1
00:00:00,800 --> 00:00:03,760
Speaker 1: Hey, guys, ready or not, twenty twenty four is here,

2
00:00:03,920 --> 00:00:06,400
Speaker 1: and we here at Breaking Points, are already thinking of

3
00:00:06,440 --> 00:00:08,639
Speaker 1: ways we can up our game for this critical election.

4
00:00:08,840 --> 00:00:11,760
Speaker 1: We rely on our premium subs to expand coverage, upgrade

5
00:00:11,800 --> 00:00:15,160
Speaker 1: the studio ad staff give you, guys, the best independent

6
00:00:15,200 --> 00:00:17,400
Speaker 1: coverage that is possible. If you like what we're all about,

7
00:00:17,440 --> 00:00:19,520
Speaker 1: it means the absolute world to have your support. What

8
00:00:19,560 --> 00:00:22,000
Speaker 1: are you waiting for? Become a premium subscriber today at

9
00:00:22,000 --> 00:00:41,680
Speaker 1: Breakingpoints dot com. Good morning, everybody, Happy Thursday. We have

10
00:00:41,720 --> 00:00:44,320
Speaker 1: an amazing show for everybody today where we have Chrystal. Indeed,

11
00:00:44,320 --> 00:00:46,520
Speaker 1: we do all kinds of interesting things to get into

12
00:00:46,720 --> 00:00:50,120
Speaker 1: this morning. So we may have the return of former

13
00:00:50,200 --> 00:00:53,640
Speaker 1: President Trump to Twitter and possibly also to Facebook or

14
00:00:53,680 --> 00:00:55,840
Speaker 1: Meta or whatever we're calling it now. We'll get into that.

15
00:00:55,880 --> 00:00:59,200
Speaker 1: He's also calling out Ron DeSantis in new commentary. We'll

16
00:00:59,200 --> 00:01:02,240
Speaker 1: have to dig into that. We got also some elon

17
00:01:02,320 --> 00:01:06,000
Speaker 1: news both at Twitter and Tesla and engineer revealing that

18
00:01:06,080 --> 00:01:09,960
Speaker 1: the initial Tesla's self driving video was completely staged and

19
00:01:09,959 --> 00:01:12,720
Speaker 1: that was not advertised at all. And of course there's

20
00:01:12,720 --> 00:01:15,880
Speaker 1: been a number of crashes, some of them fatal, and

21
00:01:16,040 --> 00:01:18,200
Speaker 1: lawsuits that their facings will get into that, and also

22
00:01:18,280 --> 00:01:21,520
Speaker 1: big interest payment due over at Twitter, how will they

23
00:01:21,600 --> 00:01:24,839
Speaker 1: be able to pay those bills? Also on the tech sector,

24
00:01:25,040 --> 00:01:28,200
Speaker 1: new layoffs at Microsoft, ten thousand workers being laid off

25
00:01:28,240 --> 00:01:31,840
Speaker 1: over there, as a trend of just total bloodbath continues

26
00:01:31,880 --> 00:01:34,679
Speaker 1: over in the tech sector. We also have some new

27
00:01:34,760 --> 00:01:37,120
Speaker 1: comments from Davos, both from Senator Chris Coons, who's one

28
00:01:37,160 --> 00:01:41,160
Speaker 1: of Joe Biden's top allies closest allies in the Senate,

29
00:01:41,400 --> 00:01:45,920
Speaker 1: revealing comments there, and also Vladimir Zelinski making comments that

30
00:01:46,000 --> 00:01:48,640
Speaker 1: are quite interesting too in context of what we are

31
00:01:48,680 --> 00:01:51,960
Speaker 1: preparing to do with regards to Ukraine. We also have

32
00:01:52,000 --> 00:01:55,400
Speaker 1: a moment on CNN where they are now allowing questioning

33
00:01:55,640 --> 00:01:59,080
Speaker 1: of the COVID detal and whether or not those debts

34
00:01:59,080 --> 00:02:01,440
Speaker 1: are overcounted and who it is coming from is also

35
00:02:01,680 --> 00:02:06,600
Speaker 1: very intriguing. Sager is looking at the Chinese birth rate.

36
00:02:06,960 --> 00:02:10,840
Speaker 1: I am looking at a very interesting moment over on

37
00:02:10,919 --> 00:02:13,800
Speaker 1: Bloomberg News. They're very upset about some proposals to tax

38
00:02:13,840 --> 00:02:15,720
Speaker 1: the rich, and we have Ken Roth on I don't

39
00:02:15,720 --> 00:02:17,960
Speaker 1: know if you guys followed this story. So he ran

40
00:02:18,120 --> 00:02:21,280
Speaker 1: Human Rights Watch and he looked like he was in

41
00:02:21,320 --> 00:02:24,360
Speaker 1: line to get a fellowship over at Harvard. That fellowship

42
00:02:24,440 --> 00:02:28,040
Speaker 1: was blocked apparently because of his criticism of the state

43
00:02:28,080 --> 00:02:30,120
Speaker 1: of Israel. So he's going to join us and tell

44
00:02:30,200 --> 00:02:32,760
Speaker 1: us what he knows about that. But let's go ahead

45
00:02:32,840 --> 00:02:36,120
Speaker 1: and start with the former president Donald Trump, looking to

46
00:02:36,160 --> 00:02:39,600
Speaker 1: get back on Twitter and back on Meta as he

47
00:02:39,680 --> 00:02:42,880
Speaker 1: ramps up his presidential campaign. Let's go and throw this

48
00:02:43,040 --> 00:02:45,960
Speaker 1: up on the screen. This is reporting from NBC News.

49
00:02:45,960 --> 00:02:48,520
Speaker 1: The headline here is Donald Trump prepares for his return

50
00:02:48,560 --> 00:02:52,200
Speaker 1: to Facebook and Twitter. Trump's presidential campaign formally petitioned Facebook's

51
00:02:52,200 --> 00:02:55,480
Speaker 1: parent company Tuesday to unblock his account, according to a

52
00:02:55,560 --> 00:02:58,760
Speaker 1: letter reviewed by NBC News. Go ahead and put this

53
00:02:58,840 --> 00:03:00,840
Speaker 1: next piece up on the screen because this has some

54
00:03:00,919 --> 00:03:04,520
Speaker 1: of the key scoops that are in this NBC News reporting.

55
00:03:05,120 --> 00:03:08,639
Speaker 1: So first of all, you've got Trump campaign advisors workshopping

56
00:03:08,639 --> 00:03:11,679
Speaker 1: ideas for his first tweet. Of course, once Elon took

57
00:03:11,680 --> 00:03:14,160
Speaker 1: over Twitter, eventually he allowed Trump back on the platform.

58
00:03:14,160 --> 00:03:17,560
Speaker 1: But Trump has stuck to true social thus far, claiming

59
00:03:17,600 --> 00:03:19,240
Speaker 1: he's going to stay there, that he's not interested in

60
00:03:19,280 --> 00:03:20,800
Speaker 1: coming back in Twitter. I think we all knew that

61
00:03:20,960 --> 00:03:23,000
Speaker 1: was going to be short lived. Now that he's getting

62
00:03:23,000 --> 00:03:26,560
Speaker 1: back into campaign mode. Apparently he is workshopping ideas for

63
00:03:26,760 --> 00:03:30,040
Speaker 1: the grand return to Twitter. The next piece was campaign

64
00:03:30,080 --> 00:03:34,440
Speaker 1: is formally petitioning Facebook to unblock his account. So there

65
00:03:34,440 --> 00:03:37,920
Speaker 1: had been some speculation that they might actually sue Meta

66
00:03:37,960 --> 00:03:41,520
Speaker 1: slash Facebook in order to enable his return. Instead, they

67
00:03:41,520 --> 00:03:43,880
Speaker 1: have just written a letter saying, hey, this is really

68
00:03:43,920 --> 00:03:46,040
Speaker 1: screwing up our political process here, which I think is

69
00:03:46,080 --> 00:03:49,960
Speaker 1: frankly a very fair point. And they also say the

70
00:03:50,000 --> 00:03:53,800
Speaker 1: campaign is prepared to engage with the House GOP to

71
00:03:53,920 --> 00:03:56,960
Speaker 1: advocate on his behalf with metas the fact that you've

72
00:03:57,000 --> 00:03:59,520
Speaker 1: got the Republicans in control of the House now they

73
00:03:59,560 --> 00:04:01,480
Speaker 1: also seen as a sort of feather in their cap

74
00:04:01,560 --> 00:04:03,400
Speaker 1: or a point in their favor in order to try

75
00:04:03,400 --> 00:04:07,000
Speaker 1: to get his account reinstated on Facebook. Because remember, we

76
00:04:07,040 --> 00:04:09,080
Speaker 1: have two different dynamics here. Twitter, he's allowed back on,

77
00:04:09,160 --> 00:04:12,240
Speaker 1: but just hasn't chosen to return Meta. He still is

78
00:04:12,280 --> 00:04:15,120
Speaker 1: technically banned and is pushing to be allowed back on.

79
00:04:15,200 --> 00:04:16,800
Speaker 1: I mean, I would guess that they're going to let

80
00:04:16,880 --> 00:04:18,800
Speaker 1: him back on, and it's kind of hard to keep

81
00:04:19,000 --> 00:04:21,360
Speaker 1: yeah when you've got I mean, he's running for president again.

82
00:04:21,400 --> 00:04:25,200
Speaker 1: He is very much likely to be the Republican nominee.

83
00:04:25,279 --> 00:04:27,400
Speaker 1: You can't just keep this guy off of Facebook forever.

84
00:04:27,560 --> 00:04:31,040
Speaker 1: And they also serve two very different purposes Soga. I mean,

85
00:04:31,040 --> 00:04:33,880
Speaker 1: Twitter is very much the elite conversation. This is what

86
00:04:33,920 --> 00:04:36,320
Speaker 1: he would always use to needle the news media and

87
00:04:36,400 --> 00:04:38,640
Speaker 1: be able to sort of dominate and drive news cycles.

88
00:04:38,680 --> 00:04:42,200
Speaker 1: And he was very effective at that. Fantastic poster of

89
00:04:42,240 --> 00:04:45,920
Speaker 1: like morality and everything else aside. Meta is actually very

90
00:04:45,960 --> 00:04:49,360
Speaker 1: important for him for fundraising, especially since there are a

91
00:04:49,480 --> 00:04:51,719
Speaker 1: number of big donors who have said they're staying out

92
00:04:51,760 --> 00:04:54,720
Speaker 1: this time. We'll see also if that holds. But Facebook

93
00:04:54,880 --> 00:04:58,200
Speaker 1: has always been key for him in terms of fundraising

94
00:04:58,279 --> 00:05:00,560
Speaker 1: and also like get out the vote kind of effort. Yeah.

95
00:05:00,560 --> 00:05:02,359
Speaker 1: So this is a very important thing, which is that

96
00:05:02,400 --> 00:05:05,479
Speaker 1: the Facebook case itself probably highlighted, maybe even more so,

97
00:05:05,640 --> 00:05:08,000
Speaker 1: the capricious nature through all of this and how it

98
00:05:08,080 --> 00:05:11,159
Speaker 1: is done. Facebook's initial reason for banning Trump was that

99
00:05:11,240 --> 00:05:14,720
Speaker 1: Trump was quote inciting violence. Now they kept and had

100
00:05:14,760 --> 00:05:18,200
Speaker 1: a six month suspension that they then upheld. During that period,

101
00:05:18,240 --> 00:05:21,760
Speaker 1: Facebook had his entire fake oversight board process, right, this

102
00:05:22,080 --> 00:05:25,960
Speaker 1: supposedly independent Supreme Court. Well, the Supreme Court looked at

103
00:05:25,960 --> 00:05:28,880
Speaker 1: it and they were like, yeah, I guess we uphold it,

104
00:05:29,000 --> 00:05:31,560
Speaker 1: but it's your company, Mark Zuckerberg, and you don't seem

105
00:05:31,600 --> 00:05:35,200
Speaker 1: to have any real processes in place. So then right now,

106
00:05:36,120 --> 00:05:38,040
Speaker 1: in terms of what Facebook is saying, they say quote

107
00:05:38,040 --> 00:05:39,719
Speaker 1: at the end of this period, we will look to

108
00:05:39,839 --> 00:05:43,440
Speaker 1: the experts to assess whether the risk to public safety

109
00:05:43,800 --> 00:05:46,719
Speaker 1: has receded. First of all, come on, this is the

110
00:05:46,760 --> 00:05:50,839
Speaker 1: freedom of speech issue, cut and dry, even on January sixth,

111
00:05:50,880 --> 00:05:53,560
Speaker 1: whether you didn't like it or not. But second, two

112
00:05:53,640 --> 00:05:56,159
Speaker 1: years later, the idea that there's a quote unquote risk

113
00:05:56,360 --> 00:05:59,599
Speaker 1: to public safety by allowing an active candidate for president

114
00:05:59,800 --> 00:06:02,559
Speaker 1: to be on your platform is outrageous and it actually

115
00:06:02,640 --> 00:06:06,520
Speaker 1: highlights exactly what the original oversight board told them, which

116
00:06:06,560 --> 00:06:09,839
Speaker 1: is that you have an indeterminate and standardless penalty with

117
00:06:09,920 --> 00:06:13,240
Speaker 1: an open ended nature of suspension, with no real processes

118
00:06:13,279 --> 00:06:16,680
Speaker 1: in place, and to actually make a proper decision. I

119
00:06:16,720 --> 00:06:18,280
Speaker 1: don't know if they're going to light it back on

120
00:06:18,560 --> 00:06:20,719
Speaker 1: or not, But if you had a situation where Joe

121
00:06:20,720 --> 00:06:23,800
Speaker 1: Biden was the nominee and he is allowed on Facebook

122
00:06:23,920 --> 00:06:26,200
Speaker 1: and Donald Trump is and he's not allowed, that's just

123
00:06:27,000 --> 00:06:30,880
Speaker 1: that can't stand. It's not possible, or the other way

124
00:06:31,120 --> 00:06:33,400
Speaker 1: I've seen some speculation that the way they may get

125
00:06:33,440 --> 00:06:36,120
Speaker 1: around this is Facebook may actually just stop having political

126
00:06:36,120 --> 00:06:38,919
Speaker 1: advertising entirely on the platform. That's something that was the

127
00:06:38,960 --> 00:06:42,000
Speaker 1: original policy on the Twitter platform before Elon took over.

128
00:06:42,040 --> 00:06:45,160
Speaker 1: He's reversed that policy. Facebook never went so far to

129
00:06:45,200 --> 00:06:46,760
Speaker 1: have that. But they might just say they're like, look,

130
00:06:46,800 --> 00:06:49,080
Speaker 1: the money's not worth it, these are too many headaches

131
00:06:49,080 --> 00:06:50,920
Speaker 1: and let it just be a free fra all. I

132
00:06:50,920 --> 00:06:53,719
Speaker 1: wouldn't be a bad decision. Actually, that would be losing

133
00:06:53,720 --> 00:06:55,479
Speaker 1: a big chunk of shape, right, But that's the problem.

134
00:06:55,880 --> 00:06:58,600
Speaker 1: Advertising I think on Facebook is fairly significant, don't know

135
00:06:58,640 --> 00:07:00,600
Speaker 1: the numbers off the top of my head. And something

136
00:07:00,640 --> 00:07:02,679
Speaker 1: that Ryan Granma always pointing out is like these social

137
00:07:02,720 --> 00:07:05,320
Speaker 1: media platforms and the advertising you can do that there

138
00:07:05,760 --> 00:07:11,360
Speaker 1: are disproportionately important for upstart, grassroots candidates. So when you

139
00:07:11,400 --> 00:07:15,160
Speaker 1: talk about blanket bans on political advertising on these platforms,

140
00:07:15,240 --> 00:07:18,120
Speaker 1: I think that's a bad direction to go in. But

141
00:07:18,280 --> 00:07:21,640
Speaker 1: I mean the free speech case, listen. I have enjoyed,

142
00:07:21,760 --> 00:07:24,000
Speaker 1: as I've said many times, Trump not being on Twitter.

143
00:07:24,000 --> 00:07:25,760
Speaker 1: It was nice when we had a little break from him.

144
00:07:25,800 --> 00:07:27,760
Speaker 1: I'm not going to deny that, but I have always

145
00:07:27,800 --> 00:07:31,280
Speaker 1: said this is This is outrageous when you consider the

146
00:07:31,280 --> 00:07:34,040
Speaker 1: people who were allowed to continue to be on these platforms,

147
00:07:34,160 --> 00:07:36,560
Speaker 1: when you consider the fact that we had years of

148
00:07:36,640 --> 00:07:39,840
Speaker 1: news cycles about some frickin' Russian memes on Facebook or

149
00:07:39,840 --> 00:07:43,000
Speaker 1: whatever like that was determining the twenty sixteen election results.

150
00:07:43,040 --> 00:07:45,240
Speaker 1: Of course, we just just got the study reported by

151
00:07:45,240 --> 00:07:48,040
Speaker 1: the news media. Turns out that didn't matter whatsoever. But

152
00:07:48,720 --> 00:07:52,800
Speaker 1: to ban one of the most prominent candidates and the

153
00:07:52,920 --> 00:07:57,400
Speaker 1: most likely GOP nominee for the twenty twenty four election,

154
00:07:57,480 --> 00:08:00,680
Speaker 1: to ban him entirely continuing to ban him entirely for Facebook,

155
00:08:01,000 --> 00:08:03,480
Speaker 1: I just think that that is not a sustainable position.

156
00:08:03,560 --> 00:08:05,800
Speaker 1: But we will see what they ultimately decide to do.

157
00:08:05,880 --> 00:08:08,560
Speaker 1: I have no particular insight into their decision making there

158
00:08:08,600 --> 00:08:10,880
Speaker 1: and what they're likely to no ultimately come down on.

159
00:08:10,960 --> 00:08:13,239
Speaker 1: I mean, there is no question also because the Trump

160
00:08:13,280 --> 00:08:16,240
Speaker 1: campaign could prove, if you're thinking about this from an

161
00:08:16,280 --> 00:08:21,200
Speaker 1: election interference perspective, twenty sixteen to twenty twenty, they raised

162
00:08:21,240 --> 00:08:26,160
Speaker 1: an outrageous amount of money on Facebook, like ungodly, especially

163
00:08:26,160 --> 00:08:28,480
Speaker 1: in twenty sixteen. It was one of the major places

164
00:08:28,520 --> 00:08:31,600
Speaker 1: actually that they sold the original red Maga hat. Now

165
00:08:31,640 --> 00:08:34,800
Speaker 1: nobody's experiencing the same amount of enthusiasm they had that

166
00:08:34,880 --> 00:08:37,040
Speaker 1: time around. But if you're cut off from such a

167
00:08:37,040 --> 00:08:40,440
Speaker 1: critical financial lifeline where you were raising hundreds of millions

168
00:08:40,480 --> 00:08:43,720
Speaker 1: of dollars in twenty sixteen, just due to the private

169
00:08:43,800 --> 00:08:47,359
Speaker 1: nature of a company, and they're so fake content policies,

170
00:08:47,640 --> 00:08:49,840
Speaker 1: that's a big problem. And actually what they point to

171
00:08:50,200 --> 00:08:51,839
Speaker 1: also in the memo is they're like, if you don't

172
00:08:51,880 --> 00:08:53,720
Speaker 1: let us back on the house, GOP is now in

173
00:08:53,800 --> 00:08:55,559
Speaker 1: charge and we are going to go full bore in

174
00:08:55,640 --> 00:08:58,560
Speaker 1: terms of influencing our allies in Congress to investigate you.

175
00:08:58,600 --> 00:09:00,960
Speaker 1: And you may hate Trump, may Trump a lot, but

176
00:09:01,280 --> 00:09:04,080
Speaker 1: they look from a standards perspective in terms of how

177
00:09:04,080 --> 00:09:06,600
Speaker 1: our society has to run, like this is clearly not

178
00:09:06,800 --> 00:09:09,320
Speaker 1: fair in any way and would just set a terrible

179
00:09:09,320 --> 00:09:11,840
Speaker 1: precedent going forward. Let me also say, even if you

180
00:09:11,880 --> 00:09:14,280
Speaker 1: don't care about the free speech concerns, I did a

181
00:09:14,360 --> 00:09:17,000
Speaker 1: little bit of reading yesterday into the research around what

182
00:09:17,160 --> 00:09:21,080
Speaker 1: happens when you deplatform people and listen, I mean, in

183
00:09:21,120 --> 00:09:24,200
Speaker 1: some ways, cancelation works on one level, like even if

184
00:09:24,200 --> 00:09:27,800
Speaker 1: you are Donald Trump or Alex Jones or one of

185
00:09:27,840 --> 00:09:31,560
Speaker 1: these other larger than life figures when you lose your

186
00:09:31,600 --> 00:09:35,439
Speaker 1: place on the most central social media platforms. It does,

187
00:09:35,600 --> 00:09:38,640
Speaker 1: you do take a hit in terms of your followers,

188
00:09:38,679 --> 00:09:40,560
Speaker 1: in terms of your reach and those sorts of things.

189
00:09:40,960 --> 00:09:44,360
Speaker 1: But there's a downside, which is that the people who

190
00:09:44,400 --> 00:09:47,080
Speaker 1: follow you over to wherever your new platform is, they're

191
00:09:47,120 --> 00:09:50,559
Speaker 1: more likely to actually become more radical, more hardened in

192
00:09:50,640 --> 00:09:52,920
Speaker 1: their views. So even if you don't give a shit

193
00:09:52,960 --> 00:09:56,400
Speaker 1: about free speech and you're just concerned about like public

194
00:09:56,480 --> 00:09:59,280
Speaker 1: safety and what's going to happen here, it's not clear

195
00:09:59,320 --> 00:10:01,520
Speaker 1: that this is the right direction to go in. And

196
00:10:01,559 --> 00:10:03,520
Speaker 1: you can even see this on a micro level with

197
00:10:03,640 --> 00:10:07,000
Speaker 1: Trump himself, where since he has been pushed over to

198
00:10:07,120 --> 00:10:10,280
Speaker 1: the truth Social platform instead of being on Twitter where

199
00:10:10,280 --> 00:10:12,520
Speaker 1: there are a lot of range of different voices, when

200
00:10:12,520 --> 00:10:14,760
Speaker 1: he's just on truth Social and you just have this

201
00:10:14,880 --> 00:10:19,600
Speaker 1: sort of like one ideological contingent that is there on

202
00:10:19,640 --> 00:10:22,600
Speaker 1: the platform with him, he has become more sort of

203
00:10:22,679 --> 00:10:27,000
Speaker 1: fringe and isolated and more obsessed with like conspiracies and

204
00:10:27,120 --> 00:10:29,240
Speaker 1: QAnon and these sorts of things. I mean, he wasn't

205
00:10:29,559 --> 00:10:33,280
Speaker 1: reposting q drops before the pushover to truth Social, So

206
00:10:33,320 --> 00:10:35,880
Speaker 1: you can see how it has just with him in

207
00:10:36,000 --> 00:10:39,400
Speaker 1: his own like focus and person the way that this

208
00:10:39,520 --> 00:10:42,079
Speaker 1: move has impacted him and sort of pushed him even

209
00:10:42,120 --> 00:10:44,400
Speaker 1: more to the fringe and even more kind of to

210
00:10:44,480 --> 00:10:47,760
Speaker 1: these radical conspiracy theory notions. I think it's fantastic point. No,

211
00:10:47,760 --> 00:10:49,480
Speaker 1: none of us should be in silos. It's always better,

212
00:10:49,480 --> 00:10:53,920
Speaker 1: you know. I've always been against quote unquote alternative platforms

213
00:10:53,920 --> 00:10:56,880
Speaker 1: that are against those that are at scale, solely for

214
00:10:56,920 --> 00:10:58,400
Speaker 1: this reason, like I want to just talk to an

215
00:10:58,440 --> 00:11:00,520
Speaker 1: echo chamber. I want to talk to people, see people

216
00:11:00,640 --> 00:11:02,480
Speaker 1: who I disagree with. Part of the reason Twitter is

217
00:11:02,480 --> 00:11:04,360
Speaker 1: actually so valuable to me and I think to our

218
00:11:04,480 --> 00:11:06,840
Speaker 1: job and elsewhere is to see many of the viewpoints

219
00:11:06,880 --> 00:11:10,040
Speaker 1: which people who we vehemently disagree and probably would never

220
00:11:10,040 --> 00:11:13,800
Speaker 1: come across in real life, but have real disproportionate influence

221
00:11:13,800 --> 00:11:16,560
Speaker 1: over society and group think. Those things are valuable for

222
00:11:16,600 --> 00:11:18,040
Speaker 1: all of us, is yeah. Part of the reason also

223
00:11:18,040 --> 00:11:20,120
Speaker 1: why we cover it on the show, and I think

224
00:11:20,120 --> 00:11:22,600
Speaker 1: it's important for everyone to be involved in that, even

225
00:11:22,640 --> 00:11:24,440
Speaker 1: if it is someone you don't like, and especially if

226
00:11:24,440 --> 00:11:26,199
Speaker 1: that person is the president or the former president of

227
00:11:26,200 --> 00:11:28,520
Speaker 1: the United States. Indeed, all right, at the same time,

228
00:11:29,120 --> 00:11:32,480
Speaker 1: the former president Trump had sat for an interview with

229
00:11:32,760 --> 00:11:34,880
Speaker 1: David Brodie, who actually covered a piece of this earlier

230
00:11:34,920 --> 00:11:37,760
Speaker 1: in the week. But there was another noteworthy moment where

231
00:11:37,800 --> 00:11:42,000
Speaker 1: he got asked about potential contender Florida Governor Ron DeSantis.

232
00:11:42,280 --> 00:11:44,439
Speaker 1: Trump's comments here kind of noteworthy. Let's take a listen.

233
00:11:44,640 --> 00:11:46,760
Speaker 1: I got him elected, pure and simple. He would have

234
00:11:47,080 --> 00:11:50,600
Speaker 1: never if I said I wasn't going to endorse you,

235
00:11:52,040 --> 00:11:54,040
Speaker 1: and I was. You know, there was no reason to

236
00:11:54,080 --> 00:11:56,800
Speaker 1: go wild about the endorsing him. You know, he was

237
00:11:56,840 --> 00:11:59,920
Speaker 1: one of about one hundred congressmen who bought for me,

238
00:12:00,160 --> 00:12:02,320
Speaker 1: and so you know, I felt, I felt I might

239
00:12:02,360 --> 00:12:04,360
Speaker 1: as well endorse him because I didn't know Adam Buttnam,

240
00:12:04,840 --> 00:12:07,280
Speaker 1: but he was the three. He was ready to drop

241
00:12:07,320 --> 00:12:10,080
Speaker 1: out of the race. It was all done. Adam Putnam

242
00:12:10,160 --> 00:12:13,800
Speaker 1: had that nomination locked up, you know, the Republican nomination,

243
00:12:13,960 --> 00:12:18,000
Speaker 1: Piover of Florida. He had it locked up. It was done.

244
00:12:18,400 --> 00:12:21,440
Speaker 1: And when I, as Adam Putnam said to me when

245
00:12:21,480 --> 00:12:23,000
Speaker 1: I met him a year later, I didn't know him

246
00:12:23,000 --> 00:12:24,960
Speaker 1: at all, but I saw him. He said, it was

247
00:12:25,000 --> 00:12:28,120
Speaker 1: like a nuclear bomb went off. A nuclear weapon went

248
00:12:28,160 --> 00:12:30,360
Speaker 1: off when you endorsed him and the race was over.

249
00:12:30,400 --> 00:12:32,120
Speaker 1: He said, he didn't even spend his money there was

250
00:12:32,120 --> 00:12:34,360
Speaker 1: no way he could have beaten him after I endorsed him.

251
00:12:34,679 --> 00:12:36,439
Speaker 1: So you know, now I hear he might want to

252
00:12:36,520 --> 00:12:38,680
Speaker 1: run against me, So we'll handle that the way I

253
00:12:38,720 --> 00:12:41,600
Speaker 1: handle things. Well, handle that the way I handled that. Yeah,

254
00:12:41,840 --> 00:12:43,680
Speaker 1: think that. Oh I thought it was a great answer.

255
00:12:44,200 --> 00:12:47,119
Speaker 1: I mean that's exactly what I've said. You know, it's fine.

256
00:12:47,120 --> 00:12:49,560
Speaker 1: Trump the day after the midterm, maybe like two days

257
00:12:49,559 --> 00:12:52,160
Speaker 1: after the midterm something, he was really angry. And one

258
00:12:52,160 --> 00:12:53,560
Speaker 1: of the first he was like, look at this guy,

259
00:12:53,679 --> 00:12:56,200
Speaker 1: Ronda sand Is. He was nobody down thirty three. I

260
00:12:56,320 --> 00:12:58,240
Speaker 1: endorsed him. He shot up to number one. So he's

261
00:12:58,240 --> 00:13:00,640
Speaker 1: had this in his head for a long Yeah, and

262
00:13:00,720 --> 00:13:04,320
Speaker 1: he hates the amount of press that DeSantis is getting.

263
00:13:04,360 --> 00:13:07,440
Speaker 1: The whole run dysanctimonious thing, and it just look this

264
00:13:07,559 --> 00:13:09,679
Speaker 1: also highlight even if you are not going to run

265
00:13:09,720 --> 00:13:12,480
Speaker 1: against Trump, even if you're not actively doing it, if

266
00:13:12,480 --> 00:13:15,280
Speaker 1: the media even annoints you, he'll just start attacking you.

267
00:13:15,520 --> 00:13:18,880
Speaker 1: And we covered that poll just yesterday or sorry on Tuesday,

268
00:13:19,120 --> 00:13:21,240
Speaker 1: where we looked at the fact that Trump continues to

269
00:13:21,240 --> 00:13:25,079
Speaker 1: have forty six percent support amongst likely GOP primary voters.

270
00:13:25,280 --> 00:13:27,720
Speaker 1: I also think that the longer time moves on from

271
00:13:27,800 --> 00:13:30,679
Speaker 1: the mid terms, it's always going to be stronger in

272
00:13:30,720 --> 00:13:33,439
Speaker 1: his favor. And then, of course, the only real scenario

273
00:13:33,480 --> 00:13:35,280
Speaker 1: where this would probably work is if it was a

274
00:13:35,280 --> 00:13:37,560
Speaker 1: true head to head matchup, and who the hell thinks

275
00:13:37,600 --> 00:13:39,360
Speaker 1: that's actually going to happen. It's not going to happen.

276
00:13:39,480 --> 00:13:41,720
Speaker 1: You've got too many people with too many egos who

277
00:13:41,760 --> 00:13:43,720
Speaker 1: think that this is their moment, you know, I mean,

278
00:13:43,760 --> 00:13:46,520
Speaker 1: I covered on Tuesday, like Glenn Youngkin looks very much

279
00:13:46,559 --> 00:13:48,040
Speaker 1: like he's going to run, even though he's sitting at

280
00:13:48,080 --> 00:13:50,400
Speaker 1: like zero percent in the polls. He's convinced himself that

281
00:13:50,720 --> 00:13:54,120
Speaker 1: since he won in Virginia at a time when Republican

282
00:13:54,160 --> 00:13:56,559
Speaker 1: fortunes were at their greatest and he happened to sort

283
00:13:56,559 --> 00:13:58,560
Speaker 1: of stumble into the right moment at the right time,

284
00:13:58,840 --> 00:14:01,000
Speaker 1: but he's persuaded himself that that means he's like some

285
00:14:01,040 --> 00:14:04,000
Speaker 1: great political talent and genius. So he's probably gonna run.

286
00:14:04,040 --> 00:14:05,840
Speaker 1: You got Nicky Haley who wants to run. You've got

287
00:14:05,840 --> 00:14:09,200
Speaker 1: friggin John Bolton who wants to run, Mike Pompeo, Mike Pence,

288
00:14:09,320 --> 00:14:13,360
Speaker 1: all of these people, and individually they may not garner

289
00:14:13,600 --> 00:14:16,760
Speaker 1: that much support, but it doesn't take that much support

290
00:14:17,120 --> 00:14:19,960
Speaker 1: for them to eat into the like maybe we're not

291
00:14:20,160 --> 00:14:24,080
Speaker 1: with Trump contingent of the GOP base before it just

292
00:14:24,120 --> 00:14:27,440
Speaker 1: becomes impossible for anyone to ultimately take him down. But listen,

293
00:14:27,560 --> 00:14:29,560
Speaker 1: we got a long way to go between now and then.

294
00:14:29,760 --> 00:14:32,440
Speaker 1: Anything can happen. So who knows, I will say on

295
00:14:33,240 --> 00:14:37,040
Speaker 1: he's fixated on this particular line of attack against DeSantis,

296
00:14:37,040 --> 00:14:42,200
Speaker 1: basically like I made you and you're being disloyal. I

297
00:14:42,320 --> 00:14:44,600
Speaker 1: genuinely don't know how that lands with the GOP, like

298
00:14:44,640 --> 00:14:47,240
Speaker 1: do they care? Do they care about that loyalty test

299
00:14:47,680 --> 00:14:50,040
Speaker 1: or not? I think there's a contingent of them that do.

300
00:14:50,200 --> 00:14:53,000
Speaker 1: But there might be other stronger points to make against Rondosantas.

301
00:14:53,040 --> 00:14:55,920
Speaker 1: I really have no idea. It's certainly possible. The other one,

302
00:14:56,080 --> 00:14:58,440
Speaker 1: I think really what it is is that instead of disloyalty,

303
00:14:58,560 --> 00:15:01,440
Speaker 1: it's I'm the supreme, like I'm the you know, I'm

304
00:15:01,440 --> 00:15:04,080
Speaker 1: the alpha, Yeah, exactly, I'm the one, the alpha at

305
00:15:04,120 --> 00:15:06,400
Speaker 1: the top, Like I annoyed to you. You're the next generation.

306
00:15:06,440 --> 00:15:09,040
Speaker 1: You're just like a copycam. You can follow after me.

307
00:15:09,320 --> 00:15:11,560
Speaker 1: When I'm done, then sure you can go ahead and

308
00:15:11,640 --> 00:15:13,720
Speaker 1: take the mantle, But for now, like when it's my

309
00:15:13,800 --> 00:15:15,480
Speaker 1: time on the stage, don't you dare? And I think

310
00:15:15,520 --> 00:15:17,200
Speaker 1: that's just always going to be the case, honestly, even

311
00:15:17,200 --> 00:15:19,440
Speaker 1: while he's alive, even if he's not an active candidate

312
00:15:19,480 --> 00:15:20,880
Speaker 1: for president, You're always going to have to go and

313
00:15:20,960 --> 00:15:22,840
Speaker 1: kiss the ring if you want to do that. All

314
00:15:22,880 --> 00:15:25,080
Speaker 1: the thing is Santa's is a prideful man. You know,

315
00:15:25,120 --> 00:15:27,400
Speaker 1: he's got a very very popular governor of Florida. Yeah,

316
00:15:27,400 --> 00:15:29,320
Speaker 1: he doesn't want to do that. So you've got a

317
00:15:29,320 --> 00:15:32,960
Speaker 1: contest of wills right now. Yeah. Another little interesting note

318
00:15:33,000 --> 00:15:37,480
Speaker 1: is there's this one advisor to Trump. Now, what's her name,

319
00:15:37,560 --> 00:15:41,040
Speaker 1: Christy Wiles. Yes, Christy Wiles, who was a top advisor

320
00:15:41,080 --> 00:15:45,680
Speaker 1: to DeSantis and now is basically running Trump's campaign. He

321
00:15:45,720 --> 00:15:49,600
Speaker 1: had run his campaign in Florida before. And she seems

322
00:15:49,600 --> 00:15:51,560
Speaker 1: to be a pretty key piece here because this is

323
00:15:51,560 --> 00:15:53,880
Speaker 1: someone who had kind of a following falling out with

324
00:15:53,920 --> 00:15:58,360
Speaker 1: the Susan Wiles. Okay, Susan Wiles, so had kind of

325
00:15:58,360 --> 00:16:02,200
Speaker 1: a falling out with sis And the thought is, you know,

326
00:16:02,320 --> 00:16:05,080
Speaker 1: she would know better than anyone how to get under

327
00:16:05,080 --> 00:16:07,840
Speaker 1: his skin, what his vulnerabilities are, et cetera. So that's

328
00:16:07,880 --> 00:16:09,880
Speaker 1: an interesting thing to just kind of keep your eye

329
00:16:09,880 --> 00:16:13,280
Speaker 1: on in terms of the inside baseball here. Moving on

330
00:16:13,320 --> 00:16:16,760
Speaker 1: to the next piece. So Trump has been shockingly quiet

331
00:16:17,160 --> 00:16:22,280
Speaker 1: since he announced his presidential campaign. He did the infamous

332
00:16:22,360 --> 00:16:25,040
Speaker 1: lunch with Nick Fuentes Kanye West, but we really haven't

333
00:16:25,080 --> 00:16:27,480
Speaker 1: heard much from him other than that. Well, it looks

334
00:16:27,520 --> 00:16:29,480
Speaker 1: like they in the new year, are now beginning to

335
00:16:29,600 --> 00:16:31,800
Speaker 1: ramp up somewhat. Let's go and put this up on

336
00:16:31,840 --> 00:16:34,560
Speaker 1: the screen. From Politico, we've got some first details about

337
00:16:34,560 --> 00:16:37,120
Speaker 1: what he plans to do. They say Trump prepares to

338
00:16:37,200 --> 00:16:40,800
Speaker 1: open next phase of twenty twenty four campaign in South Carolina.

339
00:16:40,880 --> 00:16:43,680
Speaker 1: The former president will hold a more intimate event than

340
00:16:43,680 --> 00:16:46,480
Speaker 1: his typical rallies in the key state later this month.

341
00:16:46,520 --> 00:16:49,400
Speaker 1: And of course South Carolina in the Republican primary process

342
00:16:49,480 --> 00:16:51,720
Speaker 1: is one of the early states, so it's important here.

343
00:16:51,960 --> 00:16:54,040
Speaker 1: They say he slated to make an appearance in late

344
00:16:54,120 --> 00:16:56,480
Speaker 1: January in Columbia, South Carolina. It's not going to be

345
00:16:56,480 --> 00:16:58,800
Speaker 1: a rally, but as I said before, this more intimate

346
00:16:59,080 --> 00:17:01,880
Speaker 1: event with sort of you know, key players, leaders, donors,

347
00:17:01,880 --> 00:17:04,200
Speaker 1: that sort of thing. They're casting the plans as part

348
00:17:04,200 --> 00:17:07,040
Speaker 1: of a gradual buildout of the former president's campaign following

349
00:17:07,080 --> 00:17:09,720
Speaker 1: a relatively private month and a half since a November

350
00:17:09,800 --> 00:17:12,680
Speaker 1: launch that coincided with the holiday season. I mean a

351
00:17:12,720 --> 00:17:15,600
Speaker 1: couple things. First of all, the choice of South Carolina.

352
00:17:15,680 --> 00:17:18,600
Speaker 1: As I just said, it's early in the Republican primary process,

353
00:17:18,640 --> 00:17:20,920
Speaker 1: so it matters from that perspective. You also have two

354
00:17:21,119 --> 00:17:24,000
Speaker 1: potential candidates who hail from the state in Senator Tim

355
00:17:24,040 --> 00:17:28,560
Speaker 1: Scott and also his former UN Ambassador Nikki Hayley, so

356
00:17:28,840 --> 00:17:31,800
Speaker 1: could be something you know, going on there as well.

357
00:17:32,359 --> 00:17:34,760
Speaker 1: And then the other thing to note is we were

358
00:17:34,760 --> 00:17:37,840
Speaker 1: talking about Susan Wilds's advisor before. She seems to be

359
00:17:37,880 --> 00:17:41,520
Speaker 1: taking a very different approach to this his campaign rollout

360
00:17:41,520 --> 00:17:43,919
Speaker 1: than they did last time around in twenty twenty. In

361
00:17:43,960 --> 00:17:47,440
Speaker 1: these unsuccessful effort, you know, we covered they were blowing

362
00:17:47,480 --> 00:17:51,879
Speaker 1: through cash like crazy, tons of staff, had like a

363
00:17:52,040 --> 00:17:55,920
Speaker 1: you know, gleaming headquarters in Northern Virginia. This time they're

364
00:17:56,000 --> 00:17:59,400
Speaker 1: keeping it more bare bones, much smaller in terms of staff.

365
00:17:59,560 --> 00:18:03,480
Speaker 1: The camp office has like you know, used furniture and

366
00:18:03,600 --> 00:18:05,640
Speaker 1: is in a strip mall or something like that. So

367
00:18:05,680 --> 00:18:08,280
Speaker 1: it's a much lower key kind of affair, and she

368
00:18:08,359 --> 00:18:11,879
Speaker 1: seems to be approaching the roll out in a lower

369
00:18:11,960 --> 00:18:14,359
Speaker 1: key direction as well. Instead of jumping out of the

370
00:18:14,359 --> 00:18:17,840
Speaker 1: gates with these big rallies which generate media coverage and

371
00:18:17,880 --> 00:18:21,960
Speaker 1: generate enthusiasm, but also are quite expensive. So that's the

372
00:18:22,000 --> 00:18:24,359
Speaker 1: trade off there, and we shouldn't forget, you know, South Carolina.

373
00:18:24,480 --> 00:18:26,560
Speaker 1: Things were a little bit on the edge. He loses

374
00:18:26,600 --> 00:18:29,040
Speaker 1: in Iowa, he does win in New Hampshire, but South

375
00:18:29,040 --> 00:18:31,520
Speaker 1: Carolina was his second primary. I just looked it up.

376
00:18:31,520 --> 00:18:33,800
Speaker 1: He won by thirty two percent of the votes, so

377
00:18:33,840 --> 00:18:36,160
Speaker 1: it's an important state there. And also you can also

378
00:18:36,200 --> 00:18:39,200
Speaker 1: work your way back up the calendar thinking about Iowa,

379
00:18:39,240 --> 00:18:42,760
Speaker 1: Caucasus and New Hampshire and cementing your role in both.

380
00:18:42,880 --> 00:18:45,040
Speaker 1: I had seen, and I know we covered before a

381
00:18:45,080 --> 00:18:47,800
Speaker 1: poll which showed DeSantis neck and neck with Trump in

382
00:18:47,880 --> 00:18:50,320
Speaker 1: New Hampshire, so very likely that Trump also will try

383
00:18:50,359 --> 00:18:52,760
Speaker 1: to make inroads there. It's actually a smart move, which

384
00:18:52,800 --> 00:18:55,359
Speaker 1: is if you think that there is any sort of

385
00:18:55,400 --> 00:18:57,600
Speaker 1: threat to you, you want to lock down those early

386
00:18:57,640 --> 00:18:59,919
Speaker 1: states that that the medium momentum going into Super two

387
00:19:00,480 --> 00:19:02,080
Speaker 1: says that you don't have a chance in hell if

388
00:19:02,080 --> 00:19:04,679
Speaker 1: you're coming up against Trump. So I look at this, actually,

389
00:19:04,720 --> 00:19:07,240
Speaker 1: I think it's a smart move. You're also getting the

390
00:19:07,280 --> 00:19:10,840
Speaker 1: Republican political establishment, people like Lindsey Graham becoming his South

391
00:19:10,840 --> 00:19:13,280
Speaker 1: Carolina co chair and part of the leadership team. You

392
00:19:13,320 --> 00:19:14,720
Speaker 1: want to lock that down. You want to get the

393
00:19:14,720 --> 00:19:18,600
Speaker 1: political machine in process. So they're making moves even though

394
00:19:18,600 --> 00:19:22,240
Speaker 1: it is very sleepy down in mar Lago right now. Yes, indeed, okay,

395
00:19:22,280 --> 00:19:24,600
Speaker 1: let's go into the next one. Some big news with

396
00:19:24,680 --> 00:19:27,480
Speaker 1: Elon Musk. Things feels like things have been quiet over

397
00:19:27,520 --> 00:19:30,000
Speaker 1: at Twitter, and maybe we have an explanation as to

398
00:19:30,040 --> 00:19:34,320
Speaker 1: why financial bomb going off in the Elon Musk Twitter saga.

399
00:19:34,440 --> 00:19:37,000
Speaker 1: Let's put this up there on the screen. The Financial

400
00:19:37,000 --> 00:19:40,720
Speaker 1: Times has very important reporting here. There is a major

401
00:19:40,840 --> 00:19:44,880
Speaker 1: Twitter interest payment that is Elon has to make in

402
00:19:44,920 --> 00:19:48,960
Speaker 1: the coming days because he financed over thirteen billion dollars

403
00:19:49,160 --> 00:19:51,560
Speaker 1: in debt. Now, you would also notice by the way

404
00:19:51,560 --> 00:19:54,119
Speaker 1: that Elon has been tweeting a lot about federal reserve rates.

405
00:19:54,320 --> 00:19:57,200
Speaker 1: And this is why because Twitter said that the first

406
00:19:57,280 --> 00:20:00,840
Speaker 1: installment of these interest payments related to that debt will

407
00:20:00,840 --> 00:20:04,119
Speaker 1: be due at the end of January. That debt means

408
00:20:04,119 --> 00:20:08,320
Speaker 1: that Elon must personally pay one point five billion in

409
00:20:08,560 --> 00:20:13,160
Speaker 1: annual interest payments. Considering also that he financed a major

410
00:20:13,200 --> 00:20:18,240
Speaker 1: portion of this deal through Banks, Morgan Stanley, Bank of America, Barclays,

411
00:20:18,480 --> 00:20:21,920
Speaker 1: and Mitsubishi. He's got various interest payments that he has

412
00:20:21,960 --> 00:20:24,600
Speaker 1: to make there at the same time that the company

413
00:20:24,600 --> 00:20:28,720
Speaker 1: itself is losing a ton of money. Now remember before

414
00:20:28,800 --> 00:20:31,159
Speaker 1: he even took it over, Twitter lost one hundred and

415
00:20:31,800 --> 00:20:34,720
Speaker 1: two hundred and twenty one million dollars in twenty twenty one.

416
00:20:34,920 --> 00:20:37,080
Speaker 1: He's got some things going for him. He fired ninety

417
00:20:37,119 --> 00:20:39,760
Speaker 1: percent of the staff and the platform continues to be working,

418
00:20:39,800 --> 00:20:42,520
Speaker 1: so that's probably a benefit. You've got those people off.

419
00:20:42,560 --> 00:20:44,520
Speaker 1: At the same time, he had like three month severance

420
00:20:44,520 --> 00:20:46,280
Speaker 1: payments which he had to make out to all of them,

421
00:20:46,359 --> 00:20:49,000
Speaker 1: so the financial runway isn't there just yet and the

422
00:20:49,119 --> 00:20:52,200
Speaker 1: payment is still due. Also reporting in the same piece

423
00:20:52,240 --> 00:20:54,960
Speaker 1: as well as Reuters and New York Magazine that you've

424
00:20:55,000 --> 00:20:59,280
Speaker 1: seen a forty percent drop internally in Twitter. Overall advertising

425
00:20:59,320 --> 00:21:03,440
Speaker 1: revenue everybody that was approximately five billion dollars in twenty

426
00:21:03,560 --> 00:21:06,280
Speaker 1: twenty one, which wasn't even enough to cover all their expenses.

427
00:21:06,280 --> 00:21:08,760
Speaker 1: So that maybe brings you to around two point five billion.

428
00:21:08,800 --> 00:21:11,320
Speaker 1: Why does that matter because that means that their entire

429
00:21:11,560 --> 00:21:15,440
Speaker 1: revenue is barely enough to cover the interest payment that

430
00:21:15,440 --> 00:21:17,320
Speaker 1: they now have to make on the debt, let alone

431
00:21:17,600 --> 00:21:22,040
Speaker 1: the debt itself, so it's a big financial problem overall.

432
00:21:22,280 --> 00:21:25,399
Speaker 1: Also has big impact on Tesla stock if Elon has

433
00:21:25,480 --> 00:21:28,119
Speaker 1: to continue selling Tesla stock, which right now is at

434
00:21:28,160 --> 00:21:31,280
Speaker 1: a pretty substantial low as to where it was over

435
00:21:31,320 --> 00:21:34,360
Speaker 1: the last two years, and company problems over there itself.

436
00:21:34,400 --> 00:21:36,400
Speaker 1: So this is all becoming a little bit of financial

437
00:21:36,960 --> 00:21:41,280
Speaker 1: financial problem for Elon Musk having put downward pressure on Tessa,

438
00:21:41,520 --> 00:21:43,760
Speaker 1: his major source of wealth, he lost one hundred billion

439
00:21:43,800 --> 00:21:46,919
Speaker 1: dollars in wealth in twenty twenty two, and at the

440
00:21:46,920 --> 00:21:49,840
Speaker 1: same time has the biggest problem of all for any billionaire,

441
00:21:49,920 --> 00:21:52,800
Speaker 1: which is you actually have to liquidate your assets a

442
00:21:52,920 --> 00:21:54,919
Speaker 1: straight up cash, which is something that none of them

443
00:21:54,960 --> 00:21:56,639
Speaker 1: ever wants. Well, they don't want to do it. Then

444
00:21:56,640 --> 00:21:58,520
Speaker 1: you have to pay taxes, and none of them want

445
00:21:58,520 --> 00:22:01,040
Speaker 1: will to pay taxes. So yeah, so he has kind

446
00:22:01,080 --> 00:22:03,240
Speaker 1: of a couple of bad options. One of them would

447
00:22:03,240 --> 00:22:05,679
Speaker 1: be to liquidate some assets and have to take the

448
00:22:05,720 --> 00:22:08,800
Speaker 1: tax hit. Another one would be to collateralize Tesla shares,

449
00:22:09,040 --> 00:22:12,560
Speaker 1: which he's done before, but that becomes really difficult when

450
00:22:12,800 --> 00:22:16,040
Speaker 1: his the valuation of Tesla has plummeted so dramatically their

451
00:22:16,080 --> 00:22:19,600
Speaker 1: stock has fallen sixty five percent last year, Musk sold heavily.

452
00:22:19,680 --> 00:22:21,399
Speaker 1: The value of a stake in the company has plunged

453
00:22:21,400 --> 00:22:25,000
Speaker 1: about fifty billion from one hundred and seventy billion when

454
00:22:25,000 --> 00:22:27,879
Speaker 1: he offered to buy Twitter in April of last year. So,

455
00:22:28,240 --> 00:22:31,800
Speaker 1: I mean, listen, Elon Musk is still an insanely wealthy man.

456
00:22:31,960 --> 00:22:34,040
Speaker 1: No one is saying that he isn't. But in terms

457
00:22:34,119 --> 00:22:37,440
Speaker 1: of the business picture for Twitter, it's pretty bad. I mean,

458
00:22:37,480 --> 00:22:39,359
Speaker 1: it was bad before he took it over. As you're

459
00:22:39,400 --> 00:22:41,359
Speaker 1: pointing out, they were already kind of in a hole.

460
00:22:41,760 --> 00:22:45,520
Speaker 1: Then you have this huge advertiser exodus. Go and put

461
00:22:45,520 --> 00:22:47,200
Speaker 1: this next piece up on the screen from the Guardian,

462
00:22:47,760 --> 00:22:50,879
Speaker 1: they say, as Sagert has mentioned that Twitter's been hit

463
00:22:50,960 --> 00:22:54,400
Speaker 1: by a forty percent revenue drop as more than five

464
00:22:54,560 --> 00:22:59,000
Speaker 1: hundred clients have paused their spending. And you know, whatever

465
00:22:59,160 --> 00:23:01,480
Speaker 1: Elon is doing us and around with like Twitter Blue

466
00:23:01,560 --> 00:23:03,919
Speaker 1: and the eight dollars a month, it ain't coming close

467
00:23:04,440 --> 00:23:08,639
Speaker 1: to filling in that gap ultimately. So yeah, he's in

468
00:23:08,720 --> 00:23:12,680
Speaker 1: a difficult position. He's also floated maybe taking Twitter into bankruptcy.

469
00:23:13,119 --> 00:23:15,680
Speaker 1: I wouldn't expect them to actually do that, but it

470
00:23:15,760 --> 00:23:18,320
Speaker 1: could be a way of putting pressure on the existing

471
00:23:18,440 --> 00:23:20,920
Speaker 1: investors who don't want to get screwed and be last

472
00:23:20,960 --> 00:23:23,560
Speaker 1: in line in terms of some bankruptcy proceedings to pony

473
00:23:23,680 --> 00:23:25,960
Speaker 1: up more cash to ultimately keep this thing going. But

474
00:23:26,080 --> 00:23:28,680
Speaker 1: given the fact that he wildly overpaid for Twitter to

475
00:23:28,760 --> 00:23:31,160
Speaker 1: start with, he's also not in a great position visa

476
00:23:31,240 --> 00:23:34,960
Speaker 1: vi these investors. And you know, the type of additional

477
00:23:35,080 --> 00:23:37,000
Speaker 1: funds that they would put in at what rate. It's

478
00:23:37,040 --> 00:23:39,360
Speaker 1: all a big question. I mean, right now they're trying

479
00:23:39,359 --> 00:23:42,320
Speaker 1: to squeeze revenue out. And in terms of Elon, I mean,

480
00:23:42,359 --> 00:23:45,080
Speaker 1: things have been relatively quiet in terms of like major news.

481
00:23:45,200 --> 00:23:48,159
Speaker 1: They have some platform deals that they have struck that

482
00:23:48,240 --> 00:23:51,120
Speaker 1: I was looking at just today. So they signed a deal.

483
00:23:51,119 --> 00:23:52,640
Speaker 1: And then, by the way, it is a little bit suspect,

484
00:23:52,680 --> 00:23:55,280
Speaker 1: they signed a bunch of twenty twenty three content deals

485
00:23:55,680 --> 00:23:58,399
Speaker 1: with media companies. They don't appear to be really focused

486
00:23:58,440 --> 00:24:01,280
Speaker 1: on the news per se. It's more like sports races,

487
00:24:01,359 --> 00:24:05,680
Speaker 1: things like The Bachelor for Disney ABC, Paramount MTV in

488
00:24:05,840 --> 00:24:08,600
Speaker 1: order to promote their shows like the Masks saying more

489
00:24:08,640 --> 00:24:11,960
Speaker 1: like mass media entertainment, so media companies per se. So

490
00:24:12,440 --> 00:24:15,280
Speaker 1: obviously some of these companies are keeping their advertising on Twitter.

491
00:24:15,359 --> 00:24:17,600
Speaker 1: But remember also, you know, Twitter was a very small

492
00:24:17,640 --> 00:24:20,480
Speaker 1: part of the overall advertising budget writ large and corded

493
00:24:20,560 --> 00:24:23,080
Speaker 1: to all the social media companies, and even if they

494
00:24:23,119 --> 00:24:25,520
Speaker 1: scale back slightly, you know, all of that is adding

495
00:24:25,640 --> 00:24:27,880
Speaker 1: up to a major impact on the bottom line over

496
00:24:27,960 --> 00:24:30,480
Speaker 1: at Twitter. So it's a it's a big problem right

497
00:24:30,560 --> 00:24:33,720
Speaker 1: now for him financially, and it can have cascading effects

498
00:24:33,800 --> 00:24:37,000
Speaker 1: on Tesla stock, on you know, even SpaceX possibly, and

499
00:24:37,720 --> 00:24:40,320
Speaker 1: I shouldn't forget, you know, like SpaceX is also a private,

500
00:24:40,359 --> 00:24:43,159
Speaker 1: really run company. These these can have major impacts in

501
00:24:43,280 --> 00:24:45,800
Speaker 1: terms of his ability to finance all of his businesses,

502
00:24:45,880 --> 00:24:48,280
Speaker 1: just because so much of his intertwined with him personally.

503
00:24:48,400 --> 00:24:50,680
Speaker 1: So it's a problem. Yeah. Also, wasn't he going to

504
00:24:50,720 --> 00:24:52,960
Speaker 1: step down as CEO? He said he would set down.

505
00:24:53,280 --> 00:24:55,520
Speaker 1: We all voted, We all voted to say he set down,

506
00:24:55,640 --> 00:24:58,200
Speaker 1: But who knows. He said he would only run what

507
00:24:58,280 --> 00:25:00,720
Speaker 1: he said, he'd only run the engin teams and he

508
00:25:00,760 --> 00:25:03,720
Speaker 1: would step down to find a general successor will he

509
00:25:03,800 --> 00:25:07,119
Speaker 1: actually do so, We'll see, you know, we really I

510
00:25:07,200 --> 00:25:08,720
Speaker 1: love how these things get floated in and it's like

511
00:25:08,800 --> 00:25:10,920
Speaker 1: a big deal that everyone just like instantly forgets that

512
00:25:11,000 --> 00:25:13,960
Speaker 1: it happened, because this is a while ago, two months ago.

513
00:25:14,320 --> 00:25:16,280
Speaker 1: I think it happened in December he said he would

514
00:25:16,280 --> 00:25:19,399
Speaker 1: step down. Nothing yet seems to have come out. Some

515
00:25:19,520 --> 00:25:22,480
Speaker 1: of the Twitter files remain and continue to come out,

516
00:25:22,640 --> 00:25:26,160
Speaker 1: but things even that on that stage, you know, really dwindling.

517
00:25:26,280 --> 00:25:29,520
Speaker 1: I'm still waiting to see some big Twitter files. So again,

518
00:25:29,880 --> 00:25:32,320
Speaker 1: that's kind of where things stand right now for the company,

519
00:25:32,400 --> 00:25:35,159
Speaker 1: after all of the initial chaos. All right, second part here,

520
00:25:35,480 --> 00:25:37,680
Speaker 1: let's go to this again. This is a problem, and

521
00:25:37,800 --> 00:25:40,520
Speaker 1: this is actually causing problems for Tesla, the company the

522
00:25:40,560 --> 00:25:42,840
Speaker 1: major source of Elon's wealth. Let's go ahead and put

523
00:25:42,880 --> 00:25:46,000
Speaker 1: this up there on the screen. An engineer who worked

524
00:25:46,040 --> 00:25:49,920
Speaker 1: for Tesla says that the company's twenty and sixteen videos

525
00:25:49,920 --> 00:25:54,240
Speaker 1: showing quote full autopilot was actually staged. Now, this was

526
00:25:54,320 --> 00:25:57,600
Speaker 1: a senior engineer at the company, after it was shared

527
00:25:57,640 --> 00:26:00,760
Speaker 1: in a twenty sixteen blog post saying full self driving

528
00:26:00,840 --> 00:26:04,240
Speaker 1: hardware on all Tesla's The four minute video, which we

529
00:26:04,280 --> 00:26:07,000
Speaker 1: will show you in a little bit, purports to say

530
00:26:07,040 --> 00:26:09,040
Speaker 1: that a person in the driver's seat is only there

531
00:26:09,080 --> 00:26:11,760
Speaker 1: for legal reasons. He is not doing anything. The car

532
00:26:11,960 --> 00:26:14,560
Speaker 1: is driving itself. Let's go ahead and play some of

533
00:26:14,600 --> 00:26:18,000
Speaker 1: that video, which will narrate for all of you who

534
00:26:18,160 --> 00:26:21,359
Speaker 1: are just watching. As I said, it begins, the person

535
00:26:21,560 --> 00:26:23,760
Speaker 1: in the driver's seat is only there for legal reasons.

536
00:26:23,840 --> 00:26:26,280
Speaker 1: He's not doing anything. The car is driving itself. The

537
00:26:26,359 --> 00:26:29,880
Speaker 1: car is pulling itself out. The driver is getting in here,

538
00:26:30,040 --> 00:26:33,800
Speaker 1: he's engaging the Tesla autopilot system. The car begins to

539
00:26:33,920 --> 00:26:37,399
Speaker 1: move forward. It's moving on a street. There are cars

540
00:26:37,440 --> 00:26:41,200
Speaker 1: around there. It's making the coveted left turn, the Holy

541
00:26:41,280 --> 00:26:44,960
Speaker 1: Grail or AI self driving because it's an incredibly shaky

542
00:26:45,000 --> 00:26:47,680
Speaker 1: and tough thing to do. Another left turn there that

543
00:26:47,800 --> 00:26:49,960
Speaker 1: you can see, says that it shows you also some

544
00:26:50,040 --> 00:26:52,680
Speaker 1: of the right rear camera angles, and we can go

545
00:26:52,680 --> 00:26:54,360
Speaker 1: ahead and turn it off because I think people get

546
00:26:54,400 --> 00:26:57,359
Speaker 1: the picture. The car is driving itself. Okay, that's what

547
00:26:57,480 --> 00:27:01,800
Speaker 1: they claimed in twenty sixteen, however, and also the CEO

548
00:27:01,920 --> 00:27:04,480
Speaker 1: actually said that the demonstration at the time was Tesla

549
00:27:04,560 --> 00:27:07,919
Speaker 1: drives itself, no human input at all. Well, they are

550
00:27:08,000 --> 00:27:12,000
Speaker 1: now claiming Crystal that this engineer says, actually that was

551
00:27:12,240 --> 00:27:15,520
Speaker 1: entirely staged, and that's actually leading to some lawsuits from

552
00:27:15,600 --> 00:27:20,800
Speaker 1: Tesla owners around the purported viability of full self driving

553
00:27:21,080 --> 00:27:24,640
Speaker 1: and the claims that the company made itself. Now, I mean, look,

554
00:27:24,960 --> 00:27:28,000
Speaker 1: is this unprecedented? No, we should all remember what I

555
00:27:28,040 --> 00:27:31,720
Speaker 1: think it was either the original Macintosh or Mac ninety

556
00:27:31,760 --> 00:27:34,560
Speaker 1: eight where Steve Jobs basically was like, had them program

557
00:27:34,680 --> 00:27:36,960
Speaker 1: a display something and they're like, well, we'll get to

558
00:27:37,080 --> 00:27:40,359
Speaker 1: it eventually to lead consumers stuper and you know he

559
00:27:40,480 --> 00:27:43,439
Speaker 1: did pull it off to be fair, so not necessarily

560
00:27:43,800 --> 00:27:47,359
Speaker 1: without precedent, but not a good look, especially because it

561
00:27:47,440 --> 00:27:49,639
Speaker 1: could open the company up to lawsuits which are already

562
00:27:49,680 --> 00:27:52,320
Speaker 1: being filed after this report came out. There's long been

563
00:27:52,359 --> 00:27:54,680
Speaker 1: a real fake it till you make it culture in

564
00:27:54,840 --> 00:27:57,600
Speaker 1: Silicon Valley, and the ones who make it end up

565
00:27:57,720 --> 00:28:02,639
Speaker 1: as you know, world beating billionaire supposed geniuses like Elon Musk,

566
00:28:02,680 --> 00:28:04,399
Speaker 1: and the ones that don't make it end up like

567
00:28:04,440 --> 00:28:08,040
Speaker 1: a Holmes in prisoners. And you know what you have

568
00:28:08,200 --> 00:28:11,000
Speaker 1: here is listen. It would be one thing if there

569
00:28:11,080 --> 00:28:15,320
Speaker 1: was some sort of disclosure, but they insisted that this

570
00:28:15,600 --> 00:28:19,480
Speaker 1: was one hundred percent done. Tesla drives itself, no human

571
00:28:19,560 --> 00:28:21,800
Speaker 1: input at all. That's what the video says. There is

572
00:28:21,880 --> 00:28:25,240
Speaker 1: no fine print, there is nothing whatsoever. And this becomes

573
00:28:25,320 --> 00:28:28,159
Speaker 1: incredibly relevant from a couple perspectives. I mean, number one,

574
00:28:28,240 --> 00:28:30,680
Speaker 1: Elon has said himself that if the self driving feature

575
00:28:30,720 --> 00:28:33,680
Speaker 1: doesn't work, Tesla is basically worth nothing, So he sees

576
00:28:33,760 --> 00:28:36,320
Speaker 1: this as a key clearly saw this as a key

577
00:28:36,480 --> 00:28:40,200
Speaker 1: part of the financial prospects of this company. But then

578
00:28:40,280 --> 00:28:42,480
Speaker 1: word to the point, as you're pointing out here, that

579
00:28:42,640 --> 00:28:45,960
Speaker 1: this came out as part of a deposition in a

580
00:28:46,040 --> 00:28:49,800
Speaker 1: lawsuit over the death of someone who really actually trusted

581
00:28:49,840 --> 00:28:55,040
Speaker 1: these representations that the auto drive feature fully functioned and

582
00:28:55,520 --> 00:28:59,160
Speaker 1: was safe. This man who ultimately died in an accident,

583
00:28:59,440 --> 00:29:02,000
Speaker 1: he believed it was safer than human control because he

584
00:29:02,040 --> 00:29:05,000
Speaker 1: thought that the AI was that good. So it was

585
00:29:05,240 --> 00:29:07,320
Speaker 1: the death of Walter Kwang, a thirty eight year old

586
00:29:07,320 --> 00:29:10,200
Speaker 1: Apple engineer, died in twenty eighteen his Tesla crashed into

587
00:29:10,240 --> 00:29:13,600
Speaker 1: a highway median on California's Highway one oh one. The lawsuit,

588
00:29:13,640 --> 00:29:16,760
Speaker 1: which was filed by his widow, alleges that Tesla promoted

589
00:29:16,800 --> 00:29:19,920
Speaker 1: its self driving systems as safer than they truly were,

590
00:29:20,040 --> 00:29:22,320
Speaker 1: So you can see why this video becomes a key

591
00:29:22,400 --> 00:29:26,000
Speaker 1: part of this lawsuit. According to the family's lawyer, they

592
00:29:26,000 --> 00:29:30,360
Speaker 1: said Tesla is beta testing its autopilot software on live drivers,

593
00:29:30,680 --> 00:29:33,280
Speaker 1: and there have been other accidents attributed to the self

594
00:29:33,360 --> 00:29:37,920
Speaker 1: driving software as well. So not a good development in

595
00:29:38,040 --> 00:29:41,040
Speaker 1: terms of the credibility of Tesla, in terms of their

596
00:29:41,080 --> 00:29:43,800
Speaker 1: prospects with these lawsuits, and also potentially in terms of

597
00:29:43,880 --> 00:29:45,800
Speaker 1: the financial future of the company. Yeah, I will say

598
00:29:46,200 --> 00:29:48,560
Speaker 1: this is something that's beginning to annoy me. People are

599
00:29:48,640 --> 00:29:51,640
Speaker 1: pointing to self driving crashes and all that. Yeah, listen,

600
00:29:52,360 --> 00:29:56,160
Speaker 1: none of this technology is anywhere even close to one.

601
00:29:57,200 --> 00:30:00,960
Speaker 1: And frankly, if you trust AI to I view, I

602
00:30:01,120 --> 00:30:02,600
Speaker 1: really don't know what to tell you, Like if you're

603
00:30:02,640 --> 00:30:05,200
Speaker 1: not putting your hands on the wheel, they make it

604
00:30:05,280 --> 00:30:07,680
Speaker 1: pretty explicit, and all of these you know, look, it's

605
00:30:07,720 --> 00:30:10,600
Speaker 1: not to a Tesla thing because everybody focuses on Tesla

606
00:30:10,800 --> 00:30:13,160
Speaker 1: self driving. That's because which really has the most advanced technology,

607
00:30:13,240 --> 00:30:14,880
Speaker 1: So of course they're gonna have the most crashes that

608
00:30:14,920 --> 00:30:17,280
Speaker 1: are involved. But almost every car on the market at

609
00:30:17,320 --> 00:30:21,720
Speaker 1: this point, like Honda's, Honda, Acura, I believe, even Toyota.

610
00:30:21,800 --> 00:30:25,520
Speaker 1: They they all have lane assists, they all have automatic

611
00:30:25,600 --> 00:30:27,640
Speaker 1: cruise control. What's the number one thing they tell you

612
00:30:27,720 --> 00:30:29,960
Speaker 1: on the screen, don't trust it, put your hands on

613
00:30:30,000 --> 00:30:32,680
Speaker 1: the wheel. Be prepared, keep your foot on the brake.

614
00:30:32,880 --> 00:30:35,200
Speaker 1: So if you're not doing any of those things, that's

615
00:30:35,240 --> 00:30:37,760
Speaker 1: straight up just driver error. I mean you have even cases,

616
00:30:37,800 --> 00:30:40,720
Speaker 1: I believe also of people like watching movies. The Lily

617
00:30:40,760 --> 00:30:42,360
Speaker 1: Caught of guy he was like watching a movie on

618
00:30:42,440 --> 00:30:45,040
Speaker 1: his phone while he was on Tesla's self driving. He's like, Oh,

619
00:30:45,120 --> 00:30:47,160
Speaker 1: it's a Tesla's fault. Really, it's a testas fault. They

620
00:30:47,240 --> 00:30:49,840
Speaker 1: literally tell you don't do that. So I have some

621
00:30:50,240 --> 00:30:52,640
Speaker 1: I get very skeptical on all this. I think it

622
00:30:52,680 --> 00:30:54,880
Speaker 1: should be treated in the way that you should treat

623
00:30:55,000 --> 00:30:59,280
Speaker 1: any nascent technology. It's interesting, you should try it. You

624
00:30:59,320 --> 00:31:01,640
Speaker 1: should always keep your hands on the wheel, you should

625
00:31:01,680 --> 00:31:05,160
Speaker 1: always keep your eyes going forward. We're more I think

626
00:31:05,200 --> 00:31:07,360
Speaker 1: we're probably two decades away from self driving cars. It

627
00:31:07,400 --> 00:31:09,480
Speaker 1: actually might be one of the most hyped technologies that

628
00:31:09,520 --> 00:31:12,160
Speaker 1: has not yet made very complex. It's very complex to

629
00:31:12,240 --> 00:31:13,880
Speaker 1: be able to pull this off. I mean I have

630
00:31:14,040 --> 00:31:17,239
Speaker 1: like the lane assists on my car, and the thing

631
00:31:17,360 --> 00:31:20,000
Speaker 1: that it does the most is when there's like a

632
00:31:20,120 --> 00:31:23,080
Speaker 1: turn lane and so the line on the pavement goes away.

633
00:31:23,160 --> 00:31:24,720
Speaker 1: Suddenly the cars like I want to go over the

634
00:31:24,800 --> 00:31:28,360
Speaker 1: exactly like whoa, or if it's raining, right, if it's

635
00:31:28,440 --> 00:31:30,000
Speaker 1: raining and you can't see it, or if it's at

636
00:31:30,000 --> 00:31:33,720
Speaker 1: it once again, just drive. I don't know, it's that difficult. Definitely,

637
00:31:33,800 --> 00:31:35,920
Speaker 1: don't rely on this tech. Yeah, I think then don't

638
00:31:35,960 --> 00:31:39,000
Speaker 1: rely on Elon's representations about the tech either, because apparently

639
00:31:39,160 --> 00:31:41,560
Speaker 1: those are station fake. I think you shouldn't rely on

640
00:31:41,600 --> 00:31:44,120
Speaker 1: any of these companies and for this stuff, even on

641
00:31:44,200 --> 00:31:46,800
Speaker 1: automatic cruise control. Like you know, people break and are

642
00:31:46,840 --> 00:31:48,840
Speaker 1: crazy all the time. I was driving here this morning

643
00:31:48,880 --> 00:31:50,920
Speaker 1: and some person just cut somebody off, which leads another

644
00:31:50,960 --> 00:31:53,160
Speaker 1: person to cut somebody off. Like the idea that we

645
00:31:53,240 --> 00:31:54,840
Speaker 1: are yet at the point where you can do that

646
00:31:55,280 --> 00:31:58,040
Speaker 1: safely and that's going to perfectly react especially you know.

647
00:31:58,200 --> 00:32:00,680
Speaker 1: Part of the problem I think for AI cars is

648
00:32:00,720 --> 00:32:02,880
Speaker 1: the real case for it is when every car is AI,

649
00:32:03,040 --> 00:32:04,520
Speaker 1: so they can talk to each other and they like

650
00:32:04,800 --> 00:32:06,720
Speaker 1: have fully sync. They were a long way if we have.

651
00:32:06,920 --> 00:32:09,200
Speaker 1: If we have you know, some guy driving a nineteen

652
00:32:09,280 --> 00:32:12,040
Speaker 1: ninety five car and then somebody else in a Tesla,

653
00:32:12,160 --> 00:32:14,360
Speaker 1: like the tesla is going to you know hardstop on

654
00:32:14,440 --> 00:32:16,120
Speaker 1: its breaks and then it's going to get rear ended

655
00:32:16,440 --> 00:32:19,080
Speaker 1: or something in the back. Anyway, My my main contention

656
00:32:19,240 --> 00:32:22,280
Speaker 1: is Look, if you trust a car to drive you,

657
00:32:22,560 --> 00:32:24,200
Speaker 1: I don't know what to tell you. I think that's fair.

658
00:32:24,720 --> 00:32:27,400
Speaker 1: But elon point, I will say, like he does have

659
00:32:27,520 --> 00:32:31,600
Speaker 1: a track record of making like grandiose technological flames that

660
00:32:31,800 --> 00:32:34,760
Speaker 1: definitely that don't ultimately come to fruition, and this seems

661
00:32:34,840 --> 00:32:36,560
Speaker 1: very much to fit into that. And then I mean,

662
00:32:36,680 --> 00:32:39,920
Speaker 1: just the it is an extra step to put out

663
00:32:40,000 --> 00:32:44,640
Speaker 1: this video and directly a test, no human imput this

664
00:32:44,800 --> 00:32:48,720
Speaker 1: is all the car and have no fine print, no disclosure,

665
00:32:48,880 --> 00:32:52,240
Speaker 1: no nothing, and put that out to the public. I mean, listen,

666
00:32:52,480 --> 00:32:54,719
Speaker 1: I think you're right. Silicon Valley engages in this kind

667
00:32:54,760 --> 00:32:57,080
Speaker 1: of shady crap all the time. That doesn't make it

668
00:32:57,160 --> 00:32:59,920
Speaker 1: okay or acceptable. I also, to be fair, this is

669
00:33:00,120 --> 00:33:02,600
Speaker 1: just engineer said it like we haven't gotten confirmation yet

670
00:33:02,640 --> 00:33:04,840
Speaker 1: that's what he claims. So here we'll see. I'm sure

671
00:33:04,880 --> 00:33:10,880
Speaker 1: it'll come out in litigation. Yes, indeed. Okay, more tech

672
00:33:10,960 --> 00:33:12,760
Speaker 1: news for you. This is something that we have been

673
00:33:12,800 --> 00:33:17,560
Speaker 1: tracking really closely. The trend of mass layoffs across the

674
00:33:17,640 --> 00:33:21,040
Speaker 1: tech sector continues. The latest company to shed thousands of

675
00:33:21,160 --> 00:33:23,560
Speaker 1: jobs is Microsoft. Let's put this up on the screen.

676
00:33:24,360 --> 00:33:28,520
Speaker 1: They are cutting ten thousand jobs adding as writers puts

677
00:33:28,560 --> 00:33:32,240
Speaker 1: it to the glut of tech layoffs. In a note

678
00:33:32,280 --> 00:33:35,840
Speaker 1: to staff that was shared with Reuter's, Microsoft CEO said

679
00:33:35,880 --> 00:33:38,760
Speaker 1: customers wanted to quote optimize their digital spend, to do

680
00:33:38,880 --> 00:33:41,840
Speaker 1: more with less and exercise caution as some parts of

681
00:33:41,920 --> 00:33:44,719
Speaker 1: the world are in a recession and other parts are

682
00:33:44,800 --> 00:33:48,480
Speaker 1: anticipating one. Microsoft also grappling with a slump in the

683
00:33:48,600 --> 00:33:51,920
Speaker 1: personal computer market after a pandemic boom fizzled out, leaving

684
00:33:52,000 --> 00:33:56,000
Speaker 1: little demand for its Windows and accompanying software. And that

685
00:33:56,280 --> 00:33:59,440
Speaker 1: really is the story of all of these tech layoffs,

686
00:33:59,480 --> 00:34:02,600
Speaker 1: more or less, is during the pandemic, you had a

687
00:34:03,040 --> 00:34:05,560
Speaker 1: massive boom in the sector. Of course, you had the

688
00:34:05,640 --> 00:34:07,840
Speaker 1: stock market blowing up and going up and up and up.

689
00:34:08,080 --> 00:34:10,040
Speaker 1: You also had people who were at home, so they

690
00:34:10,080 --> 00:34:12,720
Speaker 1: were on Zoom, they were on Netflix, they were apparently

691
00:34:12,760 --> 00:34:15,320
Speaker 1: on their personal computers and buying new personal computers to

692
00:34:15,360 --> 00:34:18,120
Speaker 1: be able to work from home. Now that that phase

693
00:34:18,239 --> 00:34:23,319
Speaker 1: has ended, you have companies that dramatically over hired during

694
00:34:23,400 --> 00:34:27,560
Speaker 1: that period, were radically overly optimistic, and now they're having

695
00:34:27,680 --> 00:34:30,399
Speaker 1: shed tens of thousands of jobs. As I said before,

696
00:34:30,520 --> 00:34:33,600
Speaker 1: let's put some of the context here. Amazon put the

697
00:34:33,640 --> 00:34:36,080
Speaker 1: next piece up on the screen. They are now beginning

698
00:34:36,280 --> 00:34:39,640
Speaker 1: a new round of layoffs. This we reported before. The

699
00:34:39,840 --> 00:34:42,680
Speaker 1: number of people that they planned to layoff is around

700
00:34:42,840 --> 00:34:45,719
Speaker 1: eighteen thousand. This is one of the largest of the

701
00:34:45,800 --> 00:34:48,920
Speaker 1: whole sector, and these are largely white collar workers. So

702
00:34:49,120 --> 00:34:53,160
Speaker 1: this is incredibly significant and you have actually a wonderful

703
00:34:53,840 --> 00:34:57,600
Speaker 1: resource to track all of this. This is an independent

704
00:34:57,640 --> 00:35:01,279
Speaker 1: person layoffs dot what is it? Layoff? FYI, go ahead

705
00:35:01,280 --> 00:35:03,520
Speaker 1: and put this up on the screen. You've got some

706
00:35:03,880 --> 00:35:08,279
Speaker 1: indications of where the largest layoffs are coming from. You

707
00:35:08,360 --> 00:35:12,720
Speaker 1: have Meta here, you have Amazon, You've got Uberbooking dot Com, Cisco,

708
00:35:12,880 --> 00:35:17,719
Speaker 1: Twitterbetter dot Com, Peloton Group on Carvana. I can't read

709
00:35:17,800 --> 00:35:20,920
Speaker 1: that one, Bijew's I've never even heard of that. Kata anyway,

710
00:35:21,040 --> 00:35:24,680
Speaker 1: those were the top layoffs as of December twenty twenty two.

711
00:35:25,200 --> 00:35:27,680
Speaker 1: The numbers have actually grown since then because you see

712
00:35:27,719 --> 00:35:30,520
Speaker 1: Amazon on this chart with only ten thousand cuts. Now

713
00:35:30,560 --> 00:35:33,480
Speaker 1: we know it's up to eighteen thousand cuts and there's

714
00:35:33,520 --> 00:35:35,800
Speaker 1: some it's like up to one hundred and seventy thousand

715
00:35:36,160 --> 00:35:40,560
Speaker 1: jobs in the sector across the entire industry that have

716
00:35:40,719 --> 00:35:44,440
Speaker 1: been cut in the past two years. So you know

717
00:35:44,680 --> 00:35:47,600
Speaker 1: this has a potential. Listen, First of all, it's terrible

718
00:35:47,600 --> 00:35:49,640
Speaker 1: when people lose their jobs, even people who have been

719
00:35:49,680 --> 00:35:52,000
Speaker 1: earning a decent salary, even people who probably have some

720
00:35:52,120 --> 00:35:55,360
Speaker 1: decent job prospects in the future. Losing your job is painful,

721
00:35:55,520 --> 00:35:58,360
Speaker 1: it's traumatic, it's very difficult. It can put people in

722
00:35:58,600 --> 00:36:02,360
Speaker 1: a really harriz situation. So that's one piece of that.

723
00:36:02,920 --> 00:36:05,520
Speaker 1: The other piece of this is, you know, it really

724
00:36:05,680 --> 00:36:10,200
Speaker 1: does sort of change the dynamics within the workforce, where

725
00:36:10,400 --> 00:36:12,919
Speaker 1: a lot of the growth in the upper middle class

726
00:36:13,080 --> 00:36:17,279
Speaker 1: has been because of these tech jobs. So when you

727
00:36:17,440 --> 00:36:21,080
Speaker 1: have such a pullback on a part of society that

728
00:36:21,239 --> 00:36:24,520
Speaker 1: has been so important in terms of culture and also

729
00:36:24,600 --> 00:36:26,720
Speaker 1: in terms of their spend, I mean, our whole society

730
00:36:26,760 --> 00:36:31,399
Speaker 1: has practically been geared to this income class group, that's

731
00:36:31,440 --> 00:36:33,040
Speaker 1: going to have big impacts. And then at the other

732
00:36:33,160 --> 00:36:36,440
Speaker 1: end of the spectrum, while wages have been getting destroyed

733
00:36:36,480 --> 00:36:39,919
Speaker 1: by inflation, you have massive demand for people to fill

734
00:36:40,280 --> 00:36:44,480
Speaker 1: service sector pink collar jobs, blue collar jobs. Even so,

735
00:36:44,920 --> 00:36:48,480
Speaker 1: it's a real reversal of previous trends where you know,

736
00:36:48,680 --> 00:36:51,600
Speaker 1: those workers in the service sector pink collar blue collar

737
00:36:51,680 --> 00:36:54,160
Speaker 1: jobs were treated as almost like disposable, like there were

738
00:36:54,200 --> 00:36:56,040
Speaker 1: so many of them, we can just do whatever we

739
00:36:56,120 --> 00:36:58,840
Speaker 1: want with them, and now you have a different dynamic

740
00:36:58,840 --> 00:37:01,200
Speaker 1: where it's actually the tech worker who are getting squeezed

741
00:37:01,239 --> 00:37:03,680
Speaker 1: here and struggling. Yeah, And actually a big part of it,

742
00:37:03,760 --> 00:37:05,359
Speaker 1: and what I always try to focus on is why

743
00:37:05,480 --> 00:37:08,000
Speaker 1: it even matters, is a huge amount of our growth

744
00:37:08,160 --> 00:37:12,400
Speaker 1: has been disproportionately concentrated in tech, our economic growth specifically.

745
00:37:12,520 --> 00:37:15,040
Speaker 1: So for example, the S and P five hundred is

746
00:37:15,120 --> 00:37:18,040
Speaker 1: weighted to tech, I believe at somewhere around twenty five

747
00:37:18,160 --> 00:37:21,640
Speaker 1: to thirty percent. So with so many people's retirement savings

748
00:37:21,880 --> 00:37:24,560
Speaker 1: and really just a bet on America in general, you're

749
00:37:24,600 --> 00:37:27,040
Speaker 1: kind of betting on the technology industry and have been first.

750
00:37:27,080 --> 00:37:29,160
Speaker 1: So let's say twenty five odd years now, that has

751
00:37:29,239 --> 00:37:31,839
Speaker 1: been actually quite a good bet now if you're looking

752
00:37:31,880 --> 00:37:34,239
Speaker 1: at long enough time horizon, But in the short term,

753
00:37:34,280 --> 00:37:36,560
Speaker 1: if you're going to have concentration or if you're going

754
00:37:36,600 --> 00:37:38,960
Speaker 1: to have contractions in that industry, you're going to have

755
00:37:39,000 --> 00:37:40,840
Speaker 1: all signs of spillover. So you're going to have to

756
00:37:40,920 --> 00:37:43,040
Speaker 1: see a depression in the stocks, you're going to see

757
00:37:43,520 --> 00:37:47,120
Speaker 1: reduction of people's retirement overall portfolios. But we're also going

758
00:37:47,160 --> 00:37:49,400
Speaker 1: to see a lot of the subcontracting firms and other

759
00:37:49,480 --> 00:37:52,480
Speaker 1: things that rely on tech and tech money to actually

760
00:37:52,560 --> 00:37:55,560
Speaker 1: do well. It's a complicated problem. You're also going to see.

761
00:37:56,320 --> 00:37:58,759
Speaker 1: These are really the most leading indicators, the biggest and

762
00:37:58,800 --> 00:38:01,200
Speaker 1: the biggest of the tech alliance. But from what I've heard,

763
00:38:01,239 --> 00:38:04,640
Speaker 1: you know, people who work in early stage startup capital,

764
00:38:04,719 --> 00:38:07,200
Speaker 1: it is a savage and a brutal time to try

765
00:38:07,520 --> 00:38:10,240
Speaker 1: and raise money. I saw a CEO of one financial

766
00:38:10,320 --> 00:38:12,960
Speaker 1: company who's talking about how he's talking to one of

767
00:38:13,040 --> 00:38:15,400
Speaker 1: his investors. One of investors said, you're one of my

768
00:38:15,520 --> 00:38:18,040
Speaker 1: top five percent companies, and he was like, that's great,

769
00:38:18,080 --> 00:38:19,520
Speaker 1: So are you going to give me more money. He's like,

770
00:38:19,560 --> 00:38:20,839
Speaker 1: oh no, I'm not going to get you any more money.

771
00:38:20,920 --> 00:38:22,319
Speaker 1: And so he said he can't even you know, he's

772
00:38:22,360 --> 00:38:25,799
Speaker 1: literally in the top five percent of somebody's investment portfolio

773
00:38:26,120 --> 00:38:29,120
Speaker 1: and he is unable to even raise money from these people.

774
00:38:29,239 --> 00:38:32,279
Speaker 1: So a lot of venture capital firms are they're just

775
00:38:32,400 --> 00:38:35,040
Speaker 1: not writing big checks in the way that they used to.

776
00:38:35,200 --> 00:38:38,520
Speaker 1: And of course, you know, so much of industry and

777
00:38:38,680 --> 00:38:42,080
Speaker 1: growth and just money that bleeds all over not only

778
00:38:42,160 --> 00:38:44,600
Speaker 1: San Francisco but Austin. You know, any of these companies

779
00:38:44,719 --> 00:38:47,000
Speaker 1: any these cities which have really benefited from all this,

780
00:38:47,520 --> 00:38:51,160
Speaker 1: it's a big problem. Yeah. San Francisco's housing market has

781
00:38:51,200 --> 00:38:54,239
Speaker 1: seen the biggest drops of any market in the entire country. Now,

782
00:38:54,440 --> 00:38:59,120
Speaker 1: things are still wildly unaffordable, but you see the largest

783
00:38:59,440 --> 00:39:03,280
Speaker 1: percentage drop there of any metro area in the entire country.

784
00:39:03,840 --> 00:39:06,759
Speaker 1: And you know, the other piece of this is that

785
00:39:06,920 --> 00:39:09,320
Speaker 1: there's been a lot of bloat and a lot of

786
00:39:09,440 --> 00:39:13,000
Speaker 1: sort of zombie companies in the tech space. I mean, frankly,

787
00:39:13,080 --> 00:39:15,560
Speaker 1: a lot of sort of like fakery in the tech space,

788
00:39:15,880 --> 00:39:19,200
Speaker 1: where because money was so cheap, and because you could

789
00:39:19,280 --> 00:39:22,480
Speaker 1: get those infusions so easily and everybody had so much

790
00:39:22,560 --> 00:39:25,000
Speaker 1: cash to play with, there was this attitude of like,

791
00:39:25,160 --> 00:39:27,279
Speaker 1: all right, well, just start your thing, doesn't have to

792
00:39:27,360 --> 00:39:30,120
Speaker 1: be profitable, and you'll be able to keep it going

793
00:39:30,480 --> 00:39:33,560
Speaker 1: by basically taking in more and more and more cash. Right,

794
00:39:34,040 --> 00:39:37,560
Speaker 1: that cycle seems to have ended, And that's not it.

795
00:39:37,920 --> 00:39:40,120
Speaker 1: I Again, I don't want to seem heartless because of

796
00:39:40,360 --> 00:39:43,720
Speaker 1: the real human beings involved, but having an entire segment

797
00:39:43,880 --> 00:39:46,840
Speaker 1: of your economy that's really central, that's partly built on

798
00:39:47,000 --> 00:39:50,400
Speaker 1: basically like zombie companies and fakery, is not ultimately a

799
00:39:50,440 --> 00:39:53,360
Speaker 1: really healthy thing for the economy. So that's part of

800
00:39:53,400 --> 00:39:55,440
Speaker 1: the cycle that we're seeing playing out here as well,

801
00:39:55,440 --> 00:39:57,799
Speaker 1: which is significant, important to track. Yeah, I think it's

802
00:39:57,800 --> 00:39:59,920
Speaker 1: a I think it's an important story, and it's one

803
00:40:00,000 --> 00:40:02,880
Speaker 1: on which has big implications for what the future of

804
00:40:03,040 --> 00:40:05,520
Speaker 1: the US economy really looks like. I would hope some

805
00:40:05,640 --> 00:40:07,839
Speaker 1: of this money goes to hard industry, but I doubt

806
00:40:07,840 --> 00:40:11,279
Speaker 1: that we will ever learn. Yes, indeed. Okay. At the

807
00:40:11,320 --> 00:40:14,520
Speaker 1: same time, as you all may know, the global elites

808
00:40:14,560 --> 00:40:18,080
Speaker 1: have gathered once again the World Economic Forum in Davos.

809
00:40:18,640 --> 00:40:21,439
Speaker 1: This is the first time post pandemic where they're back

810
00:40:21,480 --> 00:40:23,920
Speaker 1: to the full schedule and the full timing and the

811
00:40:23,960 --> 00:40:27,560
Speaker 1: whole thing. According to McKinsey, it's the biggest Davos ever

812
00:40:27,800 --> 00:40:31,400
Speaker 1: in history, saga, and there's been a big shift in

813
00:40:31,800 --> 00:40:36,719
Speaker 1: focus at the event. At this global confab, the Russian oligarchs,

814
00:40:36,800 --> 00:40:41,040
Speaker 1: who used to be plentiful have been pushed to the side. Also,

815
00:40:41,120 --> 00:40:43,279
Speaker 1: you have a lot fewer Chinese billionaires because of the

816
00:40:43,360 --> 00:40:45,279
Speaker 1: hit the China's economy has taken. Instead, you have a

817
00:40:45,320 --> 00:40:49,640
Speaker 1: lot more Gulf billionaires apparently in attendance this year, and

818
00:40:50,040 --> 00:40:55,319
Speaker 1: the discussion has been dominated significantly by the Russia's war

819
00:40:55,440 --> 00:41:00,520
Speaker 1: in Ukraine, including an appearance by video zoo or whatever

820
00:41:00,840 --> 00:41:04,640
Speaker 1: by Ukrainian President Voladimir Zelenski. Let's take a listen to

821
00:41:04,800 --> 00:41:07,200
Speaker 1: a little bit of what he had to say. Strages

822
00:41:07,680 --> 00:41:15,560
Speaker 1: our outpacing life. The deteriary is outpacing the demothers. Russia

823
00:41:16,640 --> 00:41:19,800
Speaker 1: needed less than one second to start the war. The

824
00:41:19,960 --> 00:41:24,840
Speaker 1: rule needed it this to react with the horses sanctions.

825
00:41:26,120 --> 00:41:30,759
Speaker 1: The time the free rule uses to sing is used

826
00:41:30,840 --> 00:41:36,200
Speaker 1: by the terrorist state to kill the Ukraine. And these

827
00:41:36,520 --> 00:41:41,680
Speaker 1: allies have been resistingly if for almost a year. These

828
00:41:41,800 --> 00:41:46,040
Speaker 1: furious proved all our prompt actions grow a positive results

829
00:41:46,920 --> 00:41:50,879
Speaker 1: the opening of European motives who brandished the Grain deal.

830
00:41:51,920 --> 00:41:54,600
Speaker 1: So basically his point there is we don't have time

831
00:41:54,680 --> 00:41:57,879
Speaker 1: to wait. Russia is acting. You all can't just sit

832
00:41:57,920 --> 00:41:59,680
Speaker 1: on your hands. We need more, we need more, we

833
00:41:59,760 --> 00:42:02,160
Speaker 1: need Yeah, but I think it's a dangerous message to

834
00:42:02,200 --> 00:42:04,680
Speaker 1: say the time that you have to think, as in

835
00:42:04,840 --> 00:42:07,920
Speaker 1: basically saying like you should stop think, don't consider, just do.

836
00:42:08,239 --> 00:42:11,000
Speaker 1: This is always a difficulty in talking about Ukraine. You know, look,

837
00:42:11,120 --> 00:42:13,160
Speaker 1: they're doing what's best for them. They don't want us

838
00:42:13,200 --> 00:42:14,600
Speaker 1: to think because they don't want us to think about

839
00:42:14,840 --> 00:42:17,400
Speaker 1: the downside risk I will never forget personally. You know,

840
00:42:17,520 --> 00:42:21,000
Speaker 1: we have that fake report Russian missiles fall in Poland.

841
00:42:21,440 --> 00:42:24,560
Speaker 1: The first thing this guy does is say that or

842
00:42:24,760 --> 00:42:27,360
Speaker 1: they're Russian, it's not our missiles. We need to no

843
00:42:27,480 --> 00:42:30,440
Speaker 1: fly zone. NATO needs to intervene him and his government.

844
00:42:30,840 --> 00:42:33,320
Speaker 1: They lied to us. Let's be real here. They straight

845
00:42:33,400 --> 00:42:35,920
Speaker 1: up lied and then didn't ever really take it back

846
00:42:36,000 --> 00:42:38,640
Speaker 1: and didn't never really apologize to Poland either, right after

847
00:42:38,719 --> 00:42:41,359
Speaker 1: all that happened. Now, you know, on the one hand,

848
00:42:41,440 --> 00:42:43,920
Speaker 1: you could say, Okay, you know, that's reasonable. He's doing

849
00:42:44,000 --> 00:42:46,919
Speaker 1: what's best for his country. He's doing what's best because

850
00:42:47,200 --> 00:42:49,520
Speaker 1: ultimately that's going to be the best chance that Ukraine

851
00:42:49,560 --> 00:42:52,200
Speaker 1: has in this war. But you know, the term ally

852
00:42:52,520 --> 00:42:54,840
Speaker 1: presumes that you get something out of it too, And

853
00:42:55,080 --> 00:42:57,319
Speaker 1: the question is is like, what would we possibly get

854
00:42:57,719 --> 00:42:59,880
Speaker 1: out of being with somebody who desperately wants us to

855
00:43:00,120 --> 00:43:03,840
Speaker 1: drag us into a broader war, even if their cause

856
00:43:03,960 --> 00:43:06,880
Speaker 1: is just it's a nuance and it's a complex situation.

857
00:43:07,040 --> 00:43:09,080
Speaker 1: I just wish more and more people were able to

858
00:43:09,120 --> 00:43:11,440
Speaker 1: square those two things. You can hope that things work

859
00:43:11,480 --> 00:43:13,880
Speaker 1: out well for Ukraine, and you can also be skeptical

860
00:43:14,160 --> 00:43:16,160
Speaker 1: of some of the things that you're saying. Let's go

861
00:43:16,239 --> 00:43:17,840
Speaker 1: to the next one up here, and this is exactly

862
00:43:17,920 --> 00:43:21,840
Speaker 1: why why skepticism and thinking is actually quite warranted. This

863
00:43:21,960 --> 00:43:23,520
Speaker 1: is a headline from the New York Times, which is

864
00:43:23,560 --> 00:43:26,360
Speaker 1: why it's the most important because you almost certainly know

865
00:43:26,480 --> 00:43:29,560
Speaker 1: that it is true whenever it's hawkish news quote US

866
00:43:29,719 --> 00:43:34,000
Speaker 1: warms to helping Ukraine target Crimea. The Biden administration is

867
00:43:34,160 --> 00:43:37,480
Speaker 1: considering the argument that Kiev needs the power to strike

868
00:43:37,600 --> 00:43:42,080
Speaker 1: at the Ukrainian peninsula annexed by Russia in twenty fourteen. Now,

869
00:43:42,160 --> 00:43:44,719
Speaker 1: on the one hand, what the Ukrainians are saying, I

870
00:43:44,760 --> 00:43:48,600
Speaker 1: want to be fair here, it's not crazy. Why Because Crimea,

871
00:43:48,840 --> 00:43:51,840
Speaker 1: if you look at it purely militarily, is a major

872
00:43:51,920 --> 00:43:55,400
Speaker 1: supply line for the Russian effort going on in Ukraine.

873
00:43:55,440 --> 00:43:56,920
Speaker 1: And if you were to look at it purely and

874
00:43:57,000 --> 00:43:59,360
Speaker 1: on a military basis, this would be one which you

875
00:43:59,360 --> 00:44:02,480
Speaker 1: could totally consider as to why it matters. Because it's

876
00:44:02,520 --> 00:44:05,440
Speaker 1: a major supply base. It's where tens of thousands of

877
00:44:05,520 --> 00:44:08,839
Speaker 1: Russian troops enter and exit. They also have a lot

878
00:44:08,880 --> 00:44:11,759
Speaker 1: of military bases and critical supplies that they keep there,

879
00:44:11,800 --> 00:44:14,240
Speaker 1: specifically because they don't believe that it will be struck

880
00:44:14,280 --> 00:44:17,360
Speaker 1: by the Ukrainians. And outside of the bridge bombing that

881
00:44:17,400 --> 00:44:20,359
Speaker 1: the Ukrainians were behind, we haven't seen any major action there.

882
00:44:20,600 --> 00:44:23,800
Speaker 1: But of course, what's the overall strategic reason why you

883
00:44:23,880 --> 00:44:26,480
Speaker 1: may want to think about this, Well, the Russians think

884
00:44:26,520 --> 00:44:29,800
Speaker 1: it's theirs, and whether you agree with that or not,

885
00:44:30,280 --> 00:44:33,279
Speaker 1: they think very hard that it is Russia. Yes, and

886
00:44:33,440 --> 00:44:37,320
Speaker 1: if they think that, well, then the risk of escalation

887
00:44:37,719 --> 00:44:41,760
Speaker 1: and have specifically of using our weapons and provided weapons

888
00:44:41,960 --> 00:44:46,000
Speaker 1: to strike actual Russian territory, Well, you're entering kind of

889
00:44:46,040 --> 00:44:48,520
Speaker 1: a new ballgame. We have no idea how the Russians

890
00:44:48,800 --> 00:44:51,360
Speaker 1: will react. Part of the calculus by the Biden administration

891
00:44:51,440 --> 00:44:53,240
Speaker 1: as well. Every time we up the ante, the Russians

892
00:44:53,280 --> 00:44:56,399
Speaker 1: don't actionly do anything. And it's not true. I'm sorry,

893
00:44:56,440 --> 00:45:00,279
Speaker 1: it is true. You haven't seen any major escalation all

894
00:45:00,360 --> 00:45:04,600
Speaker 1: dispute that I mean the attacks, the massive attacks on infrastructure,

895
00:45:04,800 --> 00:45:06,600
Speaker 1: trying to turn the lights off in Ukraine. Well, I

896
00:45:06,640 --> 00:45:08,799
Speaker 1: meant against US, I mean, not against the Ukrainians. Sure,

897
00:45:09,120 --> 00:45:10,920
Speaker 1: anytime they're like, well we're gonna bomb NATO, it's like,

898
00:45:10,920 --> 00:45:13,279
Speaker 1: well you haven't done yet, so you know, and it's

899
00:45:13,440 --> 00:45:16,880
Speaker 1: obviously consideration, but this would be unknown territory. It's one

900
00:45:16,920 --> 00:45:19,680
Speaker 1: that we considered non grata six months ago. Yeah, and

901
00:45:19,760 --> 00:45:21,880
Speaker 1: I don't see any reason why you shouldn't consider it.

902
00:45:22,320 --> 00:45:24,560
Speaker 1: There's a lot to say here. I mean, first of all,

903
00:45:24,640 --> 00:45:27,640
Speaker 1: I just on the Davos thing. To me, the Zelensky

904
00:45:27,760 --> 00:45:30,960
Speaker 1: appearance and all of their posturing around human rights is

905
00:45:31,080 --> 00:45:33,360
Speaker 1: more a story of their own hypocrisy, where at the

906
00:45:33,400 --> 00:45:35,160
Speaker 1: same time they're like, of course we're on the side

907
00:45:35,160 --> 00:45:37,000
Speaker 1: of human rights and we're on the side of Ukraine.

908
00:45:37,160 --> 00:45:40,000
Speaker 1: They're welcoming in the Gulf billionaires who are profiting off

909
00:45:40,040 --> 00:45:43,760
Speaker 1: of this war through massive oil price increases, and also

910
00:45:44,000 --> 00:45:47,040
Speaker 1: you know, affiliated with like the most repressive regimes in

911
00:45:47,280 --> 00:45:51,440
Speaker 1: the entire world, human rights abusing, etc. That's fine. So

912
00:45:51,760 --> 00:45:54,560
Speaker 1: the massive hypocrisy that's on display there, I think is

913
00:45:54,640 --> 00:45:57,640
Speaker 1: probably the most noteworthy part of his appearance, because yeah,

914
00:45:57,719 --> 00:45:59,440
Speaker 1: he's going to do and say what he needs to

915
00:45:59,520 --> 00:46:01,800
Speaker 1: do to try to win this war and defend his

916
00:46:01,880 --> 00:46:04,680
Speaker 1: own people, and I can't fault him from that. However,

917
00:46:05,080 --> 00:46:09,200
Speaker 1: on the crimea piece, this is insane. The idea, the

918
00:46:09,719 --> 00:46:12,759
Speaker 1: logic that's laid out in this article of like, well,

919
00:46:13,000 --> 00:46:16,640
Speaker 1: Russia hasn't pulled down the nukes yet, so we think

920
00:46:16,680 --> 00:46:20,880
Speaker 1: they're just not going to is so foolish and so

921
00:46:21,200 --> 00:46:24,400
Speaker 1: terrifying that they're taking such a casual approach to this

922
00:46:24,600 --> 00:46:26,360
Speaker 1: that I just don't even know what to say about it.

923
00:46:26,440 --> 00:46:28,680
Speaker 1: And this isn't just you know, us talking about There

924
00:46:28,680 --> 00:46:31,319
Speaker 1: have been a lot of experts who have said, if

925
00:46:31,440 --> 00:46:35,120
Speaker 1: you did have a horrific situation where Russia reached for

926
00:46:35,200 --> 00:46:38,960
Speaker 1: the nukes, it would likely involve their red line with

927
00:46:39,280 --> 00:46:43,560
Speaker 1: regard to Crime Bea. Anatol Levin of Quincy Institute spoke

928
00:46:43,640 --> 00:46:48,960
Speaker 1: to Bronco Marctic about exactly this thing said. The thing is,

929
00:46:49,080 --> 00:46:51,560
Speaker 1: we don't know when or if Putin actually would use

930
00:46:51,640 --> 00:46:53,960
Speaker 1: nuclear weapons. My senses, it would be only in the

931
00:46:54,160 --> 00:46:56,720
Speaker 1: very very very last resort, because the damage to Russia's

932
00:46:56,719 --> 00:46:58,360
Speaker 1: image in the world, the damage to Russian troops and

933
00:46:58,440 --> 00:47:02,400
Speaker 1: territory occupied by Russia would be colossal. Talking to Russian experts,

934
00:47:02,719 --> 00:47:06,080
Speaker 1: the only scenario in which they find it plausible, though

935
00:47:06,120 --> 00:47:08,160
Speaker 1: they could be wrong too, but they say it would

936
00:47:08,200 --> 00:47:12,319
Speaker 1: be if CRIMEA itself would be in danger. We've drawn

937
00:47:12,360 --> 00:47:14,320
Speaker 1: certain red lines for the Russians, and we need to

938
00:47:14,480 --> 00:47:19,080
Speaker 1: draw red lines for the Ukrainians. So there are many experts,

939
00:47:19,200 --> 00:47:21,160
Speaker 1: not just this one, who say, if there is a

940
00:47:21,400 --> 00:47:25,360
Speaker 1: real hard red line for the Russians, this would be it.

941
00:47:25,840 --> 00:47:29,080
Speaker 1: And the fact that we have so casually escalated and

942
00:47:29,280 --> 00:47:32,200
Speaker 1: escalated and escalated in terms of our willingness in terms

943
00:47:32,239 --> 00:47:34,120
Speaker 1: of our direct involvement, in terms of what we were

944
00:47:34,160 --> 00:47:36,200
Speaker 1: sending over there, in terms of the territory that we're

945
00:47:36,200 --> 00:47:40,000
Speaker 1: willing to assist Ukrainians in striking. You know, it reminds me,

946
00:47:40,239 --> 00:47:44,200
Speaker 1: frankly of the build up to this war. Bronco also

947
00:47:44,280 --> 00:47:47,400
Speaker 1: reported on those WikiLeaks cables where it was like you

948
00:47:47,600 --> 00:47:51,080
Speaker 1: had experts, you had NATO allies, you had the US

949
00:47:51,160 --> 00:47:54,399
Speaker 1: ambassador to Russia all warning, No, they're serious about these

950
00:47:54,440 --> 00:47:57,040
Speaker 1: red lines. They're serious about this makes them feel like

951
00:47:57,080 --> 00:48:00,239
Speaker 1: they're encircled. They're serious about this is really called causing

952
00:48:00,280 --> 00:48:02,120
Speaker 1: a problem for them, and that you know, it's not

953
00:48:02,239 --> 00:48:05,520
Speaker 1: going to go unchecked. Now. Again, always say they are

954
00:48:05,600 --> 00:48:09,600
Speaker 1: responsible for their own actions, But ultimately, there were many

955
00:48:09,680 --> 00:48:12,839
Speaker 1: people who predicted exactly the outcome that we have seen

956
00:48:13,160 --> 00:48:15,640
Speaker 1: based on the actions that we were taking with regards

957
00:48:15,680 --> 00:48:18,320
Speaker 1: to expanding NATO, and some of the people who dismissed

958
00:48:18,360 --> 00:48:21,680
Speaker 1: that at the time said very similar to this logic here,

959
00:48:22,200 --> 00:48:24,640
Speaker 1: they always say that and they never do anything. They

960
00:48:24,719 --> 00:48:27,720
Speaker 1: always say that and they never do anything. So maybe

961
00:48:28,320 --> 00:48:30,560
Speaker 1: maybe it's just all a bluff. Maybe it doesn't really

962
00:48:30,640 --> 00:48:32,920
Speaker 1: matter to them, Maybe they won't really respond in the

963
00:48:32,960 --> 00:48:37,120
Speaker 1: most terrifying or horrific way. But to so casually dismiss

964
00:48:37,160 --> 00:48:39,560
Speaker 1: it and dismiss the red lines that they have laid

965
00:48:39,560 --> 00:48:41,840
Speaker 1: out very clearly, we just never learned from history, you know,

966
00:48:41,880 --> 00:48:44,120
Speaker 1: another side of it actually, so actually you're reading an

967
00:48:44,120 --> 00:48:46,640
Speaker 1: analyst and what they said made a good point. It's like, look,

968
00:48:46,680 --> 00:48:48,440
Speaker 1: even if they don't nuke it, a lot of Russians

969
00:48:48,640 --> 00:48:50,759
Speaker 1: they think that Crimea like they may not agree with

970
00:48:50,800 --> 00:48:53,880
Speaker 1: the Ukraine invasion, but they're like, Crimea is Russia. According

971
00:48:53,920 --> 00:48:57,160
Speaker 1: to them, it could actually increase domestic political support for

972
00:48:57,400 --> 00:49:00,319
Speaker 1: Putin inside of Russia and in the war. And if

973
00:49:00,360 --> 00:49:02,799
Speaker 1: he used it as a pretext to do let's say,

974
00:49:02,840 --> 00:49:04,920
Speaker 1: a call up of another three hundred thousand or some

975
00:49:05,360 --> 00:49:08,040
Speaker 1: thing troops, he would actually probably not face the same

976
00:49:08,160 --> 00:49:11,960
Speaker 1: level of domestic political pushback that they did. And look,

977
00:49:12,120 --> 00:49:14,160
Speaker 1: I mean I also think it just highlights the overall

978
00:49:14,200 --> 00:49:17,520
Speaker 1: conflict itself. When the Ukrainians say they want to take

979
00:49:17,560 --> 00:49:20,080
Speaker 1: Crimea is because they're like, as long as Crimea remains

980
00:49:20,120 --> 00:49:22,279
Speaker 1: in Russian hands, this is going to be a stalemated

981
00:49:22,320 --> 00:49:24,799
Speaker 1: conflict that we will just continue to get pounded by.

982
00:49:25,080 --> 00:49:27,680
Speaker 1: And I'm like, yeah, they're not wrong, and that's why

983
00:49:28,040 --> 00:49:31,040
Speaker 1: diplomatic solution is probably the only way it's going to end.

984
00:49:31,120 --> 00:49:33,439
Speaker 1: They're like, but we want to have the upper handed

985
00:49:33,440 --> 00:49:35,600
Speaker 1: and negotiating table, so we want to try and sever

986
00:49:35,719 --> 00:49:37,680
Speaker 1: some of the supply lines going into Rush. Of the

987
00:49:37,719 --> 00:49:40,880
Speaker 1: problem is, you don't know how exactly that could all end. Anyway,

988
00:49:41,440 --> 00:49:44,080
Speaker 1: I think it's a very important discussion overall. What they

989
00:49:44,120 --> 00:49:48,120
Speaker 1: say is that President Biden remains unswayed by the arguments.

990
00:49:48,440 --> 00:49:51,120
Speaker 1: You can look at this article as clearly being leaked

991
00:49:51,160 --> 00:49:53,960
Speaker 1: by hawks in the administration to test the waters and

992
00:49:54,239 --> 00:49:57,160
Speaker 1: see where people can there's another major decision point. Actually

993
00:49:57,160 --> 00:49:59,000
Speaker 1: it just broke this morning. So our remember I don't

994
00:49:59,000 --> 00:50:01,120
Speaker 1: know if you guys, remember we about the tanks going

995
00:50:01,160 --> 00:50:04,120
Speaker 1: from Britain. Germany is now saying they're like, we're not

996
00:50:04,200 --> 00:50:06,560
Speaker 1: going to give those tanks. We're not going to let

997
00:50:06,600 --> 00:50:10,080
Speaker 1: Poland give our tanks to Ukraine unless you give tanks

998
00:50:10,080 --> 00:50:11,960
Speaker 1: to Ukraine. Because they're like, we don't want this on

999
00:50:12,440 --> 00:50:15,040
Speaker 1: us at the United States. So they pointed apparently they've

1000
00:50:15,040 --> 00:50:16,880
Speaker 1: been calling the White House and they're like, we're not

1001
00:50:17,200 --> 00:50:19,640
Speaker 1: sending a damn thing in terms of tanks unless you

1002
00:50:19,760 --> 00:50:21,880
Speaker 1: do it, because it needs to appear joint because if

1003
00:50:21,920 --> 00:50:23,520
Speaker 1: there's a problem, then we're the ones who are going

1004
00:50:23,560 --> 00:50:25,160
Speaker 1: to face the brunt and we'll get the blame, and

1005
00:50:25,280 --> 00:50:27,080
Speaker 1: we don't want that. It needs to be a US

1006
00:50:27,120 --> 00:50:29,719
Speaker 1: based effort. And America never wanted to actually send the

1007
00:50:29,800 --> 00:50:31,960
Speaker 1: tanks as part of the reason why Britain and Germany

1008
00:50:32,000 --> 00:50:33,760
Speaker 1: were doing it because they wanted to be a European

1009
00:50:34,080 --> 00:50:35,759
Speaker 1: led thing. But the Europeans are like, no, no, no,

1010
00:50:36,040 --> 00:50:38,080
Speaker 1: we're not having any of that. We'll see how that

1011
00:50:38,080 --> 00:50:41,120
Speaker 1: does ye point. I mean, the latest reporting is that

1012
00:50:41,239 --> 00:50:44,680
Speaker 1: we're preparing another two point five billion dollar aid package,

1013
00:50:44,760 --> 00:50:47,880
Speaker 1: including you know, additional weapons shipments, including some things we

1014
00:50:47,960 --> 00:50:50,560
Speaker 1: have never said before, but that they are still ruling

1015
00:50:50,640 --> 00:50:54,440
Speaker 1: out sending tanks. I mean what they say is like, oh, well,

1016
00:50:54,480 --> 00:50:57,080
Speaker 1: these are hard, logistically difficult, and they're very heavy, and

1017
00:50:57,120 --> 00:50:59,040
Speaker 1: it's not even clear they'd be useful in the conflict.

1018
00:50:59,120 --> 00:51:01,360
Speaker 1: But I think the real concerns are more about you know,

1019
00:51:01,600 --> 00:51:04,839
Speaker 1: the continued concerns about escalations. Well, that's just that. I mean,

1020
00:51:04,880 --> 00:51:06,359
Speaker 1: you know, once you have a tank, you can move

1021
00:51:06,400 --> 00:51:08,600
Speaker 1: pretty quick if you know what you're doing, and next

1022
00:51:08,680 --> 00:51:10,560
Speaker 1: thing you know, you could be one hundred miles inside

1023
00:51:10,600 --> 00:51:12,600
Speaker 1: of Crimea And now we're in a whole other situation.

1024
00:51:12,680 --> 00:51:14,279
Speaker 1: Part of the reason why the Bidendminstration doesn't want to

1025
00:51:14,280 --> 00:51:16,680
Speaker 1: give it to them. Yes, indeed, all right, there was

1026
00:51:16,719 --> 00:51:19,839
Speaker 1: another Davos moment that really caught our attention, This one

1027
00:51:19,920 --> 00:51:23,440
Speaker 1: flagged by Front of the show Ken Clippenstein. So Senator

1028
00:51:23,560 --> 00:51:28,080
Speaker 1: Chris Coons is probably Joe Biden's closest ally in the Senate,

1029
00:51:28,440 --> 00:51:31,320
Speaker 1: so when he speaks, it's really important to listen to

1030
00:51:31,440 --> 00:51:33,960
Speaker 1: what he had to say. Now we've been covering here

1031
00:51:34,000 --> 00:51:36,200
Speaker 1: the fact that there is some angst on the European

1032
00:51:36,280 --> 00:51:39,160
Speaker 1: side about the Inflation Production Act. They're concerned about the

1033
00:51:39,200 --> 00:51:43,359
Speaker 1: incentives contained therein that some of their industry around green

1034
00:51:43,520 --> 00:51:46,600
Speaker 1: energy may come to our shores. So there's been some

1035
00:51:46,680 --> 00:51:49,759
Speaker 1: friction in the relationship. So in that context, Cenaer Chris

1036
00:51:49,800 --> 00:51:54,239
Speaker 1: Coons gets asked about near shoring and friendshoring and where

1037
00:51:54,320 --> 00:51:57,799
Speaker 1: does this terrifying protectionism all end, let's take a listen

1038
00:51:57,800 --> 00:52:00,840
Speaker 1: to what he has to say. Whole far will go

1039
00:52:01,400 --> 00:52:04,000
Speaker 1: in front shoring, making short that things goes to Mexico

1040
00:52:04,080 --> 00:52:07,480
Speaker 1: and countries that you're allied with. Did you see the

1041
00:52:07,560 --> 00:52:11,080
Speaker 1: point often IMF Managing director and who will the US

1042
00:52:11,200 --> 00:52:13,120
Speaker 1: balance this to make sure that deals will have growth

1043
00:52:13,160 --> 00:52:14,480
Speaker 1: in the years to come? And this will be a

1044
00:52:14,640 --> 00:52:17,520
Speaker 1: very shallow recession of a recession. Avol. Look, thank you,

1045
00:52:17,600 --> 00:52:19,279
Speaker 1: thank you for your comments and the opportunity. I do

1046
00:52:19,400 --> 00:52:22,800
Speaker 1: think that American leaders and business leaders in particular recognize

1047
00:52:23,120 --> 00:52:25,759
Speaker 1: that the severe disruptions of the pandemic and some of

1048
00:52:25,800 --> 00:52:28,920
Speaker 1: the challenges of the reach and the scope of globalization

1049
00:52:29,680 --> 00:52:31,640
Speaker 1: that have caused a backlash in many of our countries,

1050
00:52:31,640 --> 00:52:34,000
Speaker 1: a populist backlash certainly in the United States, need to

1051
00:52:34,040 --> 00:52:36,279
Speaker 1: be addressed. One of the ways to deal with some

1052
00:52:36,400 --> 00:52:39,040
Speaker 1: of our challenges in terms of the hemisphere and migration

1053
00:52:39,400 --> 00:52:42,080
Speaker 1: also is to do some near shoring to improve the

1054
00:52:42,280 --> 00:52:45,239
Speaker 1: job opportunities in Central America, for example. But I don't

1055
00:52:45,239 --> 00:52:48,880
Speaker 1: think it will be as robust as potentially projected. I

1056
00:52:48,960 --> 00:52:51,760
Speaker 1: do think that we will continue to have an open economy,

1057
00:52:51,800 --> 00:52:53,800
Speaker 1: to be committed to free trade and to see the

1058
00:52:53,960 --> 00:52:57,120
Speaker 1: robust value that globalization has brought to the world as

1059
00:52:57,160 --> 00:52:59,160
Speaker 1: well as to many of our people. So when they

1060
00:52:59,280 --> 00:53:03,840
Speaker 1: say fre each what they're talking about is the Transpecific

1061
00:53:03,920 --> 00:53:07,640
Speaker 1: Partnership NAFTA, which was devastating to a whole swath of

1062
00:53:07,760 --> 00:53:10,760
Speaker 1: the country. They're talking about things like PNTR with China,

1063
00:53:10,800 --> 00:53:14,160
Speaker 1: opening up normalized trade relations with China, which has been

1064
00:53:14,680 --> 00:53:19,200
Speaker 1: devastating for blue collar workers. It's been devastating for our

1065
00:53:19,400 --> 00:53:22,240
Speaker 1: industrial base. It has made it so our supply chains,

1066
00:53:22,280 --> 00:53:26,239
Speaker 1: which was manifested incredibly clearly during COVID and continuing to

1067
00:53:26,360 --> 00:53:30,920
Speaker 1: this day, are incredibly fragile and dependent on a lot

1068
00:53:30,960 --> 00:53:34,320
Speaker 1: of other countries, but China in particular and effectively. What

1069
00:53:34,440 --> 00:53:36,880
Speaker 1: Coons is saying here is like, we had to do

1070
00:53:37,000 --> 00:53:39,600
Speaker 1: a little bit of this to sort of placate the people,

1071
00:53:39,960 --> 00:53:42,600
Speaker 1: but we're still really committed to the old way of

1072
00:53:42,680 --> 00:53:46,680
Speaker 1: doing things that lines the pockets of billionaires and a

1073
00:53:46,880 --> 00:53:50,160
Speaker 1: sort of global elite class at the expensive blue collar workers.

1074
00:53:50,239 --> 00:53:52,319
Speaker 1: The irony of it is is that Europe has one

1075
00:53:52,360 --> 00:53:55,000
Speaker 1: of the most protectionist economies in the world. They just

1076
00:53:55,120 --> 00:53:57,640
Speaker 1: have the European Union. They're pissed that they don't get

1077
00:53:57,680 --> 00:53:59,640
Speaker 1: to have protectionism, and that they don't get to ship

1078
00:53:59,640 --> 00:54:01,719
Speaker 1: their car parts here and that we don't put a

1079
00:54:01,800 --> 00:54:04,200
Speaker 1: tariff on them, or that we require our stuff to

1080
00:54:04,280 --> 00:54:07,200
Speaker 1: be American made while their stuff is European made and

1081
00:54:07,680 --> 00:54:11,480
Speaker 1: European owned, especially financially. The whole thing is a total

1082
00:54:11,520 --> 00:54:16,160
Speaker 1: farce and I cannot stand. Germany's entire economy is a

1083
00:54:16,239 --> 00:54:19,880
Speaker 1: protectionist hellhole for anybody who wants to do business outside

1084
00:54:20,040 --> 00:54:22,560
Speaker 1: of the world. That's why they are one of the largest,

1085
00:54:22,600 --> 00:54:25,800
Speaker 1: I believe, the largest economy in all of Europe because

1086
00:54:25,880 --> 00:54:28,359
Speaker 1: they have all of these rules and regulations that pile

1087
00:54:28,480 --> 00:54:30,759
Speaker 1: up with the hand of Brussels. This is part of

1088
00:54:30,760 --> 00:54:33,520
Speaker 1: the reason why Britain wanted to leave the EU in

1089
00:54:33,600 --> 00:54:36,120
Speaker 1: the first place. The whole point is that when you

1090
00:54:36,280 --> 00:54:39,359
Speaker 1: look at it, they want protectionism for themselves and free

1091
00:54:39,440 --> 00:54:42,520
Speaker 1: trade for us. And that has been the case with China,

1092
00:54:42,920 --> 00:54:47,840
Speaker 1: with the European Union, with Japan, with India, with Brazil.

1093
00:54:48,120 --> 00:54:50,880
Speaker 1: I mean, almost every other major trader partner that we

1094
00:54:51,080 --> 00:54:55,520
Speaker 1: have has an incredibly closed off, homogenous system and then

1095
00:54:55,680 --> 00:54:57,400
Speaker 1: they come here and they're like, no, they expect to

1096
00:54:57,440 --> 00:54:59,880
Speaker 1: be able to just do business completely the way that

1097
00:55:00,040 --> 00:55:02,600
Speaker 1: they want and then ship all the profits back home

1098
00:55:02,800 --> 00:55:05,200
Speaker 1: while making sure that people here lose their jobs. It's

1099
00:55:05,680 --> 00:55:08,640
Speaker 1: this completely ridiculous, and it's an ideology you know that

1100
00:55:08,760 --> 00:55:10,640
Speaker 1: the Chris Coons and all of them have set from

1101
00:55:10,680 --> 00:55:12,799
Speaker 1: the top. I hope it gets rejected. I wish stuff

1102
00:55:12,880 --> 00:55:15,160
Speaker 1: like this was more at the political conversation like it

1103
00:55:15,320 --> 00:55:16,879
Speaker 1: was a couple of years ago. I feel like we've

1104
00:55:16,920 --> 00:55:19,279
Speaker 1: almost forgotten about it. Yeah, I mean this was really

1105
00:55:19,400 --> 00:55:21,920
Speaker 1: core to the rise of Trump. I mean this was

1106
00:55:21,960 --> 00:55:25,480
Speaker 1: one of the things. You know, there was an over

1107
00:55:25,600 --> 00:55:27,960
Speaker 1: attempt by the media to like say, Trump and Bernie

1108
00:55:28,000 --> 00:55:30,440
Speaker 1: Sanders are the same but on some of these issues.

1109
00:55:30,520 --> 00:55:32,719
Speaker 1: At that time, they were singing a lot of the

1110
00:55:32,760 --> 00:55:35,680
Speaker 1: same tune, and they were right, yes, And they have

1111
00:55:35,920 --> 00:55:40,600
Speaker 1: never been more vindicated in that messaging than right now. Again,

1112
00:55:40,680 --> 00:55:44,200
Speaker 1: we just lived through the terrifying experience of Oh, we're

1113
00:55:44,200 --> 00:55:47,080
Speaker 1: facing a pandemic and we literally don't make any of

1114
00:55:47,200 --> 00:55:52,560
Speaker 1: our own ppe. Oh where are all of our pharmaceuticals manufactured? Oh,

1115
00:55:53,120 --> 00:55:55,680
Speaker 1: we can't even get baby formula on the shelves. I mean,

1116
00:55:56,160 --> 00:56:01,040
Speaker 1: the amount of fragility and vulnerability that we discovered exists

1117
00:56:01,080 --> 00:56:05,200
Speaker 1: in our supply chain because exactly this thinking not to mention.

1118
00:56:05,360 --> 00:56:08,839
Speaker 1: I mean, guys, we continue to have increases in overdoses

1119
00:56:08,880 --> 00:56:11,920
Speaker 1: and deaths of despair, continued fallout from the way that

1120
00:56:12,040 --> 00:56:16,000
Speaker 1: we decimated the industrial base and the working class of

1121
00:56:16,080 --> 00:56:19,879
Speaker 1: this country in favor of growth, well growth for who

1122
00:56:20,280 --> 00:56:24,080
Speaker 1: to benefit who? That's the question they never ever answered.

1123
00:56:24,200 --> 00:56:26,399
Speaker 1: They never wanted to answer, because of course it's their

1124
00:56:26,440 --> 00:56:30,719
Speaker 1: political donors who benefited from this quote unquote free trade

1125
00:56:30,760 --> 00:56:33,560
Speaker 1: regime for so many years. So, you know, this is

1126
00:56:33,600 --> 00:56:36,200
Speaker 1: why it's always important to pay close attention to what

1127
00:56:36,880 --> 00:56:39,960
Speaker 1: elites at Davos are saying to each other, because they

1128
00:56:40,000 --> 00:56:41,719
Speaker 1: sort of forget that the rest of the world can

1129
00:56:41,800 --> 00:56:44,040
Speaker 1: hear them, and it's a little bit of a mask

1130
00:56:44,120 --> 00:56:46,239
Speaker 1: off moment. So this is why I always track these

1131
00:56:46,239 --> 00:56:49,400
Speaker 1: things really closely and really appreciate Ken also watching this

1132
00:56:49,480 --> 00:56:53,160
Speaker 1: and paying attention to it, because there was a thought that,

1133
00:56:53,600 --> 00:56:56,560
Speaker 1: you know, what, things might really be changing. There may

1134
00:56:56,719 --> 00:57:00,600
Speaker 1: really be a new consensus emerging in why Washington and

1135
00:57:00,680 --> 00:57:04,640
Speaker 1: a different approach to you know, supply chains and rebuilding

1136
00:57:04,680 --> 00:57:07,719
Speaker 1: our industrial base and getting some of this fragility on

1137
00:57:07,880 --> 00:57:11,200
Speaker 1: of our system, and the Inflation Reduction Act seem like okay,

1138
00:57:11,280 --> 00:57:12,960
Speaker 1: and we had the chip sacked right, maybe this is

1139
00:57:13,040 --> 00:57:16,320
Speaker 1: a new era of industrial policy and at least according

1140
00:57:16,360 --> 00:57:18,080
Speaker 1: to the Center in Chris Coons, so again is the

1141
00:57:18,240 --> 00:57:20,760
Speaker 1: top ally of Joe Biden in the Senate. This was

1142
00:57:20,800 --> 00:57:22,720
Speaker 1: all just you know, a little bit of a ruse,

1143
00:57:23,000 --> 00:57:24,920
Speaker 1: a little bit of a sop to the populace, and

1144
00:57:25,280 --> 00:57:27,040
Speaker 1: we're going to go back to doing exactly what we

1145
00:57:27,080 --> 00:57:29,240
Speaker 1: were doing before. Yeah, very unfortunate. All right, let's go

1146
00:57:29,280 --> 00:57:32,760
Speaker 1: to the next part here. COVID Leanna, when doctor Leanna,

1147
00:57:32,800 --> 00:57:35,240
Speaker 1: when you know, having one of the most interesting turns

1148
00:57:35,320 --> 00:57:39,200
Speaker 1: in politics to really Arc, right, real character. Arc started

1149
00:57:39,240 --> 00:57:41,960
Speaker 1: out as one of the most like wear masks all

1150
00:57:42,040 --> 00:57:44,520
Speaker 1: this and then became one of the really only people

1151
00:57:44,880 --> 00:57:47,520
Speaker 1: on CNN. I guess whenever it was safe to begin

1152
00:57:47,560 --> 00:57:50,240
Speaker 1: the acknowledging things, saying like masks don't work unless you're

1153
00:57:50,240 --> 00:57:53,520
Speaker 1: wearing an N ninety five, now saying actually we're over

1154
00:57:53,680 --> 00:57:58,520
Speaker 1: counting COVID debts, kind of stunning people on CNN itself,

1155
00:57:58,560 --> 00:58:01,400
Speaker 1: and then also drawing a major reaction afterwards. Let's take

1156
00:58:01,440 --> 00:58:03,320
Speaker 1: a listen to exactly what she said. As you know,

1157
00:58:03,360 --> 00:58:05,480
Speaker 1: I heard this closely being in the Trump White House

1158
00:58:05,520 --> 00:58:06,800
Speaker 1: when this happened. I talked to a lot of health

1159
00:58:06,840 --> 00:58:08,840
Speaker 1: officials about this who are actually kind of skeptical of

1160
00:58:08,960 --> 00:58:10,360
Speaker 1: this claim that you're making. And I think one big

1161
00:58:10,440 --> 00:58:12,840
Speaker 1: thing has been what is the evidence that these COVID

1162
00:58:12,920 --> 00:58:16,960
Speaker 1: deaths are actually being overcounted? Well, this is the reason

1163
00:58:17,000 --> 00:58:19,120
Speaker 1: why this kind of transparent reporting is going to be

1164
00:58:19,200 --> 00:58:21,080
Speaker 1: so important. There is a way for us to look

1165
00:58:21,120 --> 00:58:23,600
Speaker 1: at death certificates and also to look at the medical

1166
00:58:23,600 --> 00:58:25,680
Speaker 1: records of individuals prior to their death. And I think

1167
00:58:25,680 --> 00:58:28,160
Speaker 1: this needs to be separated into three categories. One is

1168
00:58:28,400 --> 00:58:32,240
Speaker 1: the COVID as a direct contributor, the primary cause of death.

1169
00:58:32,400 --> 00:58:34,800
Speaker 1: The second is could it be a secondary contributing cause. So,

1170
00:58:34,840 --> 00:58:37,720
Speaker 1: for example, somebody with kidney disease, COVID then pushes them

1171
00:58:37,760 --> 00:58:39,760
Speaker 1: over the edge deep kidney failure. That's COVID as a

1172
00:58:39,800 --> 00:58:41,960
Speaker 1: contributing cause. And then the third is COVID as an

1173
00:58:41,960 --> 00:58:44,120
Speaker 1: incidental finding, So somebody coming in with a gunshot wound

1174
00:58:44,280 --> 00:58:46,040
Speaker 1: or a heart attack and a happy to test positive.

1175
00:58:46,200 --> 00:58:47,800
Speaker 1: I think that we need to separate out and look

1176
00:58:47,840 --> 00:58:50,280
Speaker 1: at the percentages of each That percentage would have shifted

1177
00:58:50,360 --> 00:58:52,400
Speaker 1: over time as well. In the beginning, probably a lot

1178
00:58:52,440 --> 00:58:54,320
Speaker 1: more people were dying with the primary cause of COVID

1179
00:58:54,480 --> 00:58:57,480
Speaker 1: that probably has shifted. She's not wrong. That's been the

1180
00:58:57,560 --> 00:59:01,080
Speaker 1: case now for a long time. And actually this is

1181
00:59:01,120 --> 00:59:03,080
Speaker 1: part of why it's so difficult. I don't know if

1182
00:59:03,120 --> 00:59:06,240
Speaker 1: everybody remembers, but the CDC put out a statement, what

1183
00:59:06,400 --> 00:59:08,520
Speaker 1: was it about a year ago or so where they

1184
00:59:08,560 --> 00:59:11,040
Speaker 1: were talking about how the average person who's dying of

1185
00:59:11,120 --> 00:59:15,240
Speaker 1: COVID post mass vaccination campaign was like over eighty years

1186
00:59:15,280 --> 00:59:18,800
Speaker 1: old and had up to four comorbidities. And people lost

1187
00:59:18,840 --> 00:59:22,640
Speaker 1: it because what they are attempting to do is a

1188
00:59:22,720 --> 00:59:25,320
Speaker 1: lot of people want you to still believe that COVID

1189
00:59:25,560 --> 00:59:28,560
Speaker 1: is a major threat to your life. Now, with variance

1190
00:59:28,800 --> 00:59:33,760
Speaker 1: with vaccination, natural immunity, therapeutics, and so much of the

1191
00:59:33,800 --> 00:59:36,520
Speaker 1: evolution of where we are right now, it's just simply

1192
00:59:36,640 --> 00:59:41,240
Speaker 1: not true unless you have some pretty major underlying health conditions,

1193
00:59:41,560 --> 00:59:44,760
Speaker 1: and that's where it genuinely could be a major threat

1194
00:59:44,760 --> 00:59:47,320
Speaker 1: to your life, something that she actually even argues in

1195
00:59:47,640 --> 00:59:51,200
Speaker 1: this Washington Post op ed. Again, I don't exactly know

1196
00:59:51,280 --> 00:59:55,360
Speaker 1: why she's coming forward. The major kind of crux of

1197
00:59:55,480 --> 00:59:58,480
Speaker 1: her argument here is that it's important to actually keep

1198
00:59:58,560 --> 01:00:01,360
Speaker 1: accurate data as to what this is and to actually

1199
01:00:01,760 --> 01:00:04,440
Speaker 1: make sure that what the COVID death rate, purportedly is

1200
01:00:04,920 --> 01:00:08,720
Speaker 1: is not something that is unacceptably high or so way

1201
01:00:08,760 --> 01:00:11,400
Speaker 1: that we can actually track the virulence and the progress

1202
01:00:11,720 --> 01:00:13,960
Speaker 1: of the disease. But this has also been the case

1203
01:00:14,040 --> 01:00:16,080
Speaker 1: now for quite a long time for a lot of

1204
01:00:16,080 --> 01:00:18,240
Speaker 1: people who were even looking at you know, age tables

1205
01:00:18,440 --> 01:00:23,200
Speaker 1: and others regarding COVID, many many like I would say,

1206
01:00:23,280 --> 01:00:26,160
Speaker 1: almost two years ago, almost at this point. Now. The

1207
01:00:26,280 --> 01:00:29,040
Speaker 1: thing is, though, is that this is effectively conventional wisdom

1208
01:00:29,360 --> 01:00:31,480
Speaker 1: for most people. I think they understand it when an

1209
01:00:31,520 --> 01:00:33,760
Speaker 1: eighty five year old who's got like heart disease and

1210
01:00:33,840 --> 01:00:36,880
Speaker 1: diabetes dies because they have COVID, Like, is it really

1211
01:00:36,960 --> 01:00:40,919
Speaker 1: COVID that what's responsible for their death. That being said,

1212
01:00:41,720 --> 01:00:45,520
Speaker 1: this clip itself of benign conventional wisdom, now at this point,

1213
01:00:45,960 --> 01:00:49,640
Speaker 1: received a tremendous amount of pushback in kind of the

1214
01:00:49,720 --> 01:00:52,240
Speaker 1: liberal intelligensia. Let's go ahead and put this up there

1215
01:00:52,600 --> 01:00:57,040
Speaker 1: on the screen, actually echoing some exactly of what Caitlin

1216
01:00:57,120 --> 01:01:00,480
Speaker 1: Collins was pushing back there with quote unquote health professionals,

1217
01:01:00,680 --> 01:01:03,640
Speaker 1: please doctor when we don't have time to wonder speculate,

1218
01:01:03,680 --> 01:01:06,200
Speaker 1: the data is public. We know exactly how many COVID

1219
01:01:06,280 --> 01:01:08,840
Speaker 1: debts were primary at first contributing versus incidental. It's actually

1220
01:01:08,880 --> 01:01:11,400
Speaker 1: not true. More debts are now contributing, but that doesn't

1221
01:01:11,480 --> 01:01:14,880
Speaker 1: mean that they are overcounted. Go to the next one there,

1222
01:01:15,000 --> 01:01:18,160
Speaker 1: please on the screen Meddie Hassen saying right wingers are

1223
01:01:18,280 --> 01:01:20,560
Speaker 1: loving the latest nonsense from Leanna, when who has gone

1224
01:01:20,560 --> 01:01:23,760
Speaker 1: from COVID hawk to COVID to minimize to now aid

1225
01:01:23,880 --> 01:01:27,360
Speaker 1: in a better of COVID denialis her latest conspiratorial claims

1226
01:01:27,560 --> 01:01:30,600
Speaker 1: have been debunked by a number of actual experts. And

1227
01:01:30,720 --> 01:01:35,600
Speaker 1: then the next one there please also important similar doctor

1228
01:01:35,720 --> 01:01:38,560
Speaker 1: Lucky trand the cycle of disinformation. The White House is

1229
01:01:38,640 --> 01:01:42,760
Speaker 1: seeding talking points with handpicked minimizer Twitter docs like Leanna.

1230
01:01:42,800 --> 01:01:46,920
Speaker 1: When minimizer docs spread disinformation via priority access to the media,

1231
01:01:47,240 --> 01:01:51,520
Speaker 1: anti vaxxers amplify minimizer op ed pending, the White House

1232
01:01:51,600 --> 01:01:54,680
Speaker 1: is using dissent as an excuse to loosen its policies.

1233
01:01:54,760 --> 01:01:56,880
Speaker 1: So these are all people again who really do seem

1234
01:01:56,920 --> 01:02:00,160
Speaker 1: to believe that we Crystal are like in May of

1235
01:02:00,240 --> 01:02:03,600
Speaker 1: twenty twenty or something and want to freeze the conversation there.

1236
01:02:03,840 --> 01:02:05,640
Speaker 1: That's the part I just don't get. How can you

1237
01:02:05,720 --> 01:02:08,800
Speaker 1: possibly push back against that. Actually, that last person had

1238
01:02:09,320 --> 01:02:11,640
Speaker 1: one part of their thing had a point, which is

1239
01:02:11,720 --> 01:02:14,120
Speaker 1: that I think when you look at her character arc

1240
01:02:14,480 --> 01:02:17,600
Speaker 1: and you ask, like, why has she shifted so dramatically, Well,

1241
01:02:18,000 --> 01:02:20,760
Speaker 1: originally the claim she was making, the way she was

1242
01:02:20,800 --> 01:02:24,480
Speaker 1: positioning herself was beneficial to Democrats, And now you know,

1243
01:02:24,600 --> 01:02:27,280
Speaker 1: while you have a lot of liberals who don't want

1244
01:02:27,320 --> 01:02:29,440
Speaker 1: to engage with with what she's saying and are just

1245
01:02:29,560 --> 01:02:32,320
Speaker 1: like panicked at the very suggestion of it, the Biden

1246
01:02:32,360 --> 01:02:35,960
Speaker 1: White House is very interested in people moving the pandemic

1247
01:02:36,040 --> 01:02:38,600
Speaker 1: and feeling like things are okay and like moving forward. So,

1248
01:02:38,840 --> 01:02:41,680
Speaker 1: I mean, it does just so happen that her commentary

1249
01:02:41,760 --> 01:02:44,600
Speaker 1: has sort of tracked what is most useful for the

1250
01:02:44,640 --> 01:02:46,680
Speaker 1: Biden White House, which that last commentary, who had a

1251
01:02:46,720 --> 01:02:48,240
Speaker 1: lot of other things to say about it as well,

1252
01:02:48,560 --> 01:02:50,200
Speaker 1: did point that out, and I think that that is

1253
01:02:50,400 --> 01:02:52,560
Speaker 1: a worthwhile point. Listen, I don't claim to be an

1254
01:02:52,600 --> 01:02:55,400
Speaker 1: expert on whether the debts are overcounted or undercounted or

1255
01:02:55,680 --> 01:02:58,760
Speaker 1: just yet just write or whatever. I have not dug

1256
01:02:58,800 --> 01:03:00,920
Speaker 1: into it deeply. Let me just put that ultimately on

1257
01:03:01,000 --> 01:03:03,800
Speaker 1: the table. But what has bothered me this whole time

1258
01:03:04,520 --> 01:03:08,400
Speaker 1: is the level of panic about even having a discussion

1259
01:03:08,480 --> 01:03:11,760
Speaker 1: around it and providing a quote unquote talking point to

1260
01:03:11,880 --> 01:03:16,360
Speaker 1: someone who might be your ideological adversary, and the shifting

1261
01:03:16,560 --> 01:03:21,520
Speaker 1: nature of what you're allowed to wonder about. Question dig

1262
01:03:21,640 --> 01:03:27,040
Speaker 1: into the way public health officials have actively admitted to

1263
01:03:27,160 --> 01:03:30,720
Speaker 1: trying to shape public opinion and behavior rather than just

1264
01:03:30,880 --> 01:03:34,360
Speaker 1: present us with evidence and facts and social media and

1265
01:03:34,440 --> 01:03:36,440
Speaker 1: we've talked about that as well. Like has also played

1266
01:03:36,480 --> 01:03:38,960
Speaker 1: into this, is serving as these sort of like gatekeepers

1267
01:03:39,040 --> 01:03:40,680
Speaker 1: or what you can say, what you can't say, and

1268
01:03:40,760 --> 01:03:43,400
Speaker 1: what counts us fact and what counts as fiction. That

1269
01:03:43,560 --> 01:03:45,640
Speaker 1: has been the piece that has always really bothered me,

1270
01:03:45,760 --> 01:03:47,840
Speaker 1: And so I think that's sort of exemplified by the

1271
01:03:48,800 --> 01:03:51,880
Speaker 1: treatment of the comments here from Leon just so insane.

1272
01:03:52,200 --> 01:03:55,919
Speaker 1: I still can't It's January twenty twenty three. I can't

1273
01:03:55,920 --> 01:03:58,000
Speaker 1: even believe they were having a discussion. I thought people

1274
01:03:58,040 --> 01:03:59,920
Speaker 1: knew this a long time ago. And then the fact

1275
01:04:00,120 --> 01:04:03,600
Speaker 1: that people who have ded sway over at least public

1276
01:04:03,680 --> 01:04:06,800
Speaker 1: health opinion and public health authority in this country disagree

1277
01:04:06,840 --> 01:04:09,040
Speaker 1: with what she's saying is even more disturbing to me.

1278
01:04:09,280 --> 01:04:13,800
Speaker 1: But it is what it is, all right, Tager, what

1279
01:04:13,840 --> 01:04:15,960
Speaker 1: you're looking at well, when we first had Peter's ihon

1280
01:04:16,040 --> 01:04:18,240
Speaker 1: on the show, I gotta admit I was kind of skeptical.

1281
01:04:18,320 --> 01:04:21,640
Speaker 1: Peter is just an extraordinarily confident person, and he's obviously brilliant,

1282
01:04:21,840 --> 01:04:24,080
Speaker 1: but he would declaratively say China's going to collapse in

1283
01:04:24,160 --> 01:04:27,120
Speaker 1: exactly ten years. I couldn't help but recoil. Take it

1284
01:04:27,200 --> 01:04:29,560
Speaker 1: from the guy who said publicly he didn't think Russia

1285
01:04:29,560 --> 01:04:32,120
Speaker 1: would invade Ukraine. You can look pretty dumb when things

1286
01:04:32,200 --> 01:04:34,840
Speaker 1: go wrong, making grand pronouncements about major events in the

1287
01:04:34,840 --> 01:04:36,960
Speaker 1: heat of the moment. It can come back to bite you.

1288
01:04:37,440 --> 01:04:39,680
Speaker 1: But what if Peter is smarter than me. What if

1289
01:04:39,680 --> 01:04:41,440
Speaker 1: he's right? What if the way that we are thinking

1290
01:04:41,480 --> 01:04:43,880
Speaker 1: about China is completely wrong. What if it is not

1291
01:04:43,960 --> 01:04:46,360
Speaker 1: a jugg ornaut but it's actually an illusion the entire time,

1292
01:04:46,640 --> 01:04:49,040
Speaker 1: and it's crumbling right before our eyes. I'm not saying

1293
01:04:49,080 --> 01:04:51,200
Speaker 1: I agree, but let's go through some recent data that

1294
01:04:51,280 --> 01:04:54,160
Speaker 1: actually makes the case. First was major demographic data of

1295
01:04:54,320 --> 01:04:56,960
Speaker 1: China that just came out yesterday. The CCP, for the

1296
01:04:57,080 --> 01:05:00,040
Speaker 1: first time has admitted that its population has fallen for

1297
01:05:00,160 --> 01:05:03,640
Speaker 1: the first time in over sixty years. There are several

1298
01:05:03,720 --> 01:05:05,800
Speaker 1: things to note here. First of all, this is the

1299
01:05:05,840 --> 01:05:09,080
Speaker 1: official number. Assume the real number is much worse. Second,

1300
01:05:09,400 --> 01:05:11,919
Speaker 1: even if you go by their official numbers, that means

1301
01:05:11,960 --> 01:05:14,640
Speaker 1: that new births in China have fallen a full forty

1302
01:05:14,800 --> 01:05:17,960
Speaker 1: five percent in the last five years, a full blown

1303
01:05:18,160 --> 01:05:21,200
Speaker 1: demographic crisis that started well befare COVID, and it is

1304
01:05:21,240 --> 01:05:24,400
Speaker 1: now accelerating. China now has a birth rate behind India,

1305
01:05:24,520 --> 01:05:26,880
Speaker 1: the United States, the United Kingdom, making it one of

1306
01:05:26,920 --> 01:05:29,760
Speaker 1: the worst on the largest economies on Earth. To put

1307
01:05:29,800 --> 01:05:32,320
Speaker 1: things in perspective, the last thing time that things were

1308
01:05:32,360 --> 01:05:35,280
Speaker 1: this bad demographically in China it was because of a

1309
01:05:35,440 --> 01:05:38,880
Speaker 1: famine caused by Mao Zadong. Worse, it does not seem

1310
01:05:39,040 --> 01:05:41,400
Speaker 1: like they have any easy way out. For all the

1311
01:05:41,480 --> 01:05:43,680
Speaker 1: talk of the legacy of the one child policy and

1312
01:05:43,760 --> 01:05:46,720
Speaker 1: the culture problems that it foretold, today's problems have a

1313
01:05:46,800 --> 01:05:49,760
Speaker 1: lot to do with economics as well. While yes, China

1314
01:05:49,880 --> 01:05:53,160
Speaker 1: is an economic juggernaut in the aggregate, on the individual level,

1315
01:05:53,240 --> 01:05:55,280
Speaker 1: things are not set up there for the flourishing of

1316
01:05:55,360 --> 01:05:58,520
Speaker 1: family life. Much of this centers around couples who simply

1317
01:05:58,640 --> 01:06:01,640
Speaker 1: don't believe that it is econom possible to have more

1318
01:06:01,680 --> 01:06:03,800
Speaker 1: than one child right now, and a total lack of

1319
01:06:03,840 --> 01:06:06,000
Speaker 1: faith that the government may not reverse itself in the

1320
01:06:06,080 --> 01:06:09,160
Speaker 1: future and say, actually, only one child is now desirable.

1321
01:06:09,480 --> 01:06:11,680
Speaker 1: Michael Beckley, he's a US based professor who wrote a

1322
01:06:11,680 --> 01:06:14,200
Speaker 1: book on China. He lays this out in future quote,

1323
01:06:14,920 --> 01:06:18,400
Speaker 1: China will lose five to ten million working age adults

1324
01:06:18,640 --> 01:06:22,760
Speaker 1: and gain five to ten million senior citizens every year

1325
01:06:23,240 --> 01:06:26,840
Speaker 1: for the foreseeable future. There is no way out of that.

1326
01:06:27,320 --> 01:06:30,040
Speaker 1: Worse they are they are not on the backside of

1327
01:06:30,080 --> 01:06:32,640
Speaker 1: COVID right now. In fact, they are having their twenty

1328
01:06:32,680 --> 01:06:36,760
Speaker 1: twenty moment right now after abandoning their idiotic COVID zero policy.

1329
01:06:37,120 --> 01:06:40,400
Speaker 1: By their own admission, tens of thousands of people are

1330
01:06:40,480 --> 01:06:43,200
Speaker 1: dying of COVID per day. The virus is ripping like

1331
01:06:43,320 --> 01:06:47,600
Speaker 1: wildfire through its population. This too, is causing mass consternation

1332
01:06:47,760 --> 01:06:50,320
Speaker 1: across the population because it is a clear sign that

1333
01:06:50,400 --> 01:06:53,640
Speaker 1: they stayed locked up for two years for absolutely no reason.

1334
01:06:54,000 --> 01:06:56,440
Speaker 1: The rest of the world barely thinks about COVID, but

1335
01:06:56,600 --> 01:06:59,080
Speaker 1: for them, it's a full blown crisis, and of course

1336
01:06:59,240 --> 01:07:02,720
Speaker 1: it will ownly further weaken their population problems, and it

1337
01:07:02,840 --> 01:07:06,440
Speaker 1: highlights their economic ones. China's economy grew just three percent

1338
01:07:06,560 --> 01:07:08,880
Speaker 1: last year after a target set by the government for

1339
01:07:08,960 --> 01:07:12,280
Speaker 1: five point five percent, and again three is the official numbers.

1340
01:07:12,520 --> 01:07:15,040
Speaker 1: Who knows what the real one is. Some Western analysts

1341
01:07:15,040 --> 01:07:17,520
Speaker 1: have put their real growth as low as point five percent.

1342
01:07:17,600 --> 01:07:20,880
Speaker 1: In reality dig deeper. The overall number is still stunning

1343
01:07:20,920 --> 01:07:23,640
Speaker 1: compared to the previous periods. Just a decade ago, it

1344
01:07:23,800 --> 01:07:26,320
Speaker 1: was growing in a rapacious seven point seven percent per year.

1345
01:07:26,640 --> 01:07:29,160
Speaker 1: Its economy now looks on par of that with the West,

1346
01:07:29,400 --> 01:07:32,240
Speaker 1: except the West doesn't need speedy economic growth to fund

1347
01:07:32,360 --> 01:07:34,520
Speaker 1: hundreds of millions of people and propel enough of our

1348
01:07:34,560 --> 01:07:38,240
Speaker 1: population into the middle class to maintain social stability and

1349
01:07:38,360 --> 01:07:42,160
Speaker 1: preserve an authoritarian dictatorship. There are other signs of impending

1350
01:07:42,200 --> 01:07:44,840
Speaker 1: problems lurking beneath the surface. We all took notice of

1351
01:07:44,880 --> 01:07:47,760
Speaker 1: the Evergrand bubble earlier this year, but the overall debt

1352
01:07:47,800 --> 01:07:51,040
Speaker 1: problem right now for China is immense. Right now, their

1353
01:07:51,080 --> 01:07:53,520
Speaker 1: overall level of total debt in China is fifty one

1354
01:07:53,720 --> 01:07:57,360
Speaker 1: trillion dollars. That's three times the size of their entire economy.

1355
01:07:57,600 --> 01:07:59,720
Speaker 1: It's the highest level in Beijing since they even started

1356
01:07:59,760 --> 01:08:02,000
Speaker 1: track it in twenty seven years. And they don't have

1357
01:08:02,120 --> 01:08:05,480
Speaker 1: the American luxury of being the world's reserve currency. Furthermore,

1358
01:08:05,640 --> 01:08:08,480
Speaker 1: with their mounting demographic problems, they're having a hell of

1359
01:08:08,520 --> 01:08:11,600
Speaker 1: a time paying even for major social benefits they need

1360
01:08:11,680 --> 01:08:14,880
Speaker 1: to care for their increasingly elderly population. They have barely

1361
01:08:14,960 --> 01:08:17,760
Speaker 1: any new workers to replace them. Current trends say soon

1362
01:08:17,840 --> 01:08:20,519
Speaker 1: they will have one worker trying to support three elderly,

1363
01:08:20,840 --> 01:08:24,439
Speaker 1: leading to even more borrowing and debt, not enough taxes

1364
01:08:24,560 --> 01:08:27,200
Speaker 1: or spending. I could go on further. I could point

1365
01:08:27,240 --> 01:08:29,960
Speaker 1: to their record high inflation, the fact they import almost

1366
01:08:30,080 --> 01:08:32,599
Speaker 1: all the energy that they actually need, they have very

1367
01:08:32,640 --> 01:08:35,400
Speaker 1: little reserve. But all of this makes actually a compelling

1368
01:08:35,479 --> 01:08:38,080
Speaker 1: case for the Zihon thesis. How are they supposed to

1369
01:08:38,120 --> 01:08:41,479
Speaker 1: be tough abroad when they have to sow their entire

1370
01:08:41,640 --> 01:08:45,479
Speaker 1: society back together in such a short period of time. Worse,

1371
01:08:45,800 --> 01:08:48,680
Speaker 1: they don't have the democratic release valve that we do.

1372
01:08:49,080 --> 01:08:51,960
Speaker 1: When our people are pissed, they can vote. There it

1373
01:08:52,120 --> 01:08:54,439
Speaker 1: just boils, and it boils every once in a while

1374
01:08:54,720 --> 01:08:56,360
Speaker 1: it comes up to the surface. So we can take

1375
01:08:56,360 --> 01:08:58,559
Speaker 1: a little bit of notice. Maybe a decade is too

1376
01:08:58,640 --> 01:09:00,720
Speaker 1: short of a time horizon. I've come away in the

1377
01:09:00,800 --> 01:09:04,440
Speaker 1: last year and with a very basic normy point. Authoritarian

1378
01:09:04,560 --> 01:09:07,360
Speaker 1: societies are just bad in the long run. They really

1379
01:09:07,479 --> 01:09:09,880
Speaker 1: just don't work that well. They're actually not equal to

1380
01:09:10,000 --> 01:09:12,760
Speaker 1: us really at all, nor can they replace us. Look

1381
01:09:12,880 --> 01:09:16,759
Speaker 1: at Russia and China. COVID zero is humiliating and clearly

1382
01:09:16,840 --> 01:09:19,960
Speaker 1: their society is falling apart. At Russia, they claim they

1383
01:09:20,000 --> 01:09:22,400
Speaker 1: could have an alternative system to the West, it turns

1384
01:09:22,439 --> 01:09:25,200
Speaker 1: out they have basically no friends on the international stage

1385
01:09:25,360 --> 01:09:29,439
Speaker 1: and their economy only runs because of petrochemicals. Look, maybe

1386
01:09:29,600 --> 01:09:31,880
Speaker 1: all of this is way too optimistic. I could do

1387
01:09:31,920 --> 01:09:34,400
Speaker 1: a whole monologue on America's failures. I think I've done

1388
01:09:34,439 --> 01:09:36,759
Speaker 1: many here on the show. But looking from the outside

1389
01:09:36,800 --> 01:09:39,479
Speaker 1: in the view of the Chinese century just does not

1390
01:09:39,640 --> 01:09:42,080
Speaker 1: look the same as it did a decade ago. Maybe

1391
01:09:42,160 --> 01:09:46,080
Speaker 1: Peter's ion is completely right after all. Look, Chris, and

1392
01:09:46,240 --> 01:09:48,879
Speaker 1: if you want to hear my reaction to Sagre's monologue,

1393
01:09:48,960 --> 01:09:54,840
Speaker 1: become a premium subscriber today at Breakingpoints dot com. Christl

1394
01:09:54,880 --> 01:09:56,840
Speaker 1: what do you take a look at? Well? Guys, Today,

1395
01:09:56,960 --> 01:10:01,479
Speaker 1: in an unusual nationwide coordinated action, in seven different states

1396
01:10:01,520 --> 01:10:04,519
Speaker 1: are introducing a raft of legislation that is aimed at

1397
01:10:04,600 --> 01:10:07,439
Speaker 1: taxing the rich. The Washington Post has the story. The

1398
01:10:07,520 --> 01:10:12,240
Speaker 1: headline is billionaires in blue states face coordinated wealth tax bills.

1399
01:10:12,280 --> 01:10:14,720
Speaker 1: Some measures are based on Center Elizabeth Warren's proposals to

1400
01:10:14,800 --> 01:10:18,080
Speaker 1: make the super rich pay more, and the article details

1401
01:10:18,080 --> 01:10:20,280
Speaker 1: a range of ideas, from a wealth tax in California

1402
01:10:20,320 --> 01:10:22,360
Speaker 1: and should levy a one point five percent tax on

1403
01:10:22,479 --> 01:10:25,799
Speaker 1: assets over a billion dollars, pretty modest proposal, in my opinion,

1404
01:10:26,040 --> 01:10:29,000
Speaker 1: to proposals in Connecticut, Hawaiian, Maryland, and York that would

1405
01:10:29,080 --> 01:10:32,680
Speaker 1: increase capital gains taxes. They've also documented here efforts that

1406
01:10:32,680 --> 01:10:35,439
Speaker 1: would expand the state tax in order to curb the

1407
01:10:35,520 --> 01:10:39,600
Speaker 1: extraordinary transfers of intergenerational wealth which have increasingly locked us

1408
01:10:39,640 --> 01:10:43,080
Speaker 1: into a rigid class system. Now, each of these ideas

1409
01:10:43,160 --> 01:10:46,719
Speaker 1: has its own pluses and minuses, but all are wildly

1410
01:10:46,800 --> 01:10:49,000
Speaker 1: popular with the American people. An article a couple of

1411
01:10:49,040 --> 01:10:51,719
Speaker 1: years back summed up the research on this matter quite well. Quote,

1412
01:10:52,120 --> 01:10:55,360
Speaker 1: most Americans want the rich to pay higher taxes, according

1413
01:10:55,400 --> 01:10:58,679
Speaker 1: to every poll everywhere. They cite polls showing a Warren

1414
01:10:58,760 --> 01:11:01,599
Speaker 1: style wealth tax proposal with seventy seven percent support among

1415
01:11:01,640 --> 01:11:05,360
Speaker 1: Democrats and a majority fifty three percent support even among Republicans.

1416
01:11:05,800 --> 01:11:09,160
Speaker 1: One specific idea to tax wealth over fifty million dollars

1417
01:11:09,200 --> 01:11:11,200
Speaker 1: at two percent, much more than what's being proposed in

1418
01:11:11,240 --> 01:11:15,879
Speaker 1: California that clocked in at seventy four percent support. Overall,

1419
01:11:16,560 --> 01:11:19,439
Speaker 1: even more aggressive proposals, things like lifting the top tax

1420
01:11:19,520 --> 01:11:23,679
Speaker 1: rate to seventy percent, enjoys about sixty percent support. Overall.

1421
01:11:24,280 --> 01:11:27,640
Speaker 1: Taxing the rich is so popular that even a majority

1422
01:11:27,800 --> 01:11:34,599
Speaker 1: of millionaires supported taxing millionaires more. But we did manage

1423
01:11:34,800 --> 01:11:39,160
Speaker 1: to identify one demographic which was adamantly opposed no matter

1424
01:11:39,240 --> 01:11:44,000
Speaker 1: which proposal was tested, wealthy, bespectacled, bow tie wearing business anchors.

1425
01:11:44,280 --> 01:11:46,519
Speaker 1: This really comes from the Senator Elizabeth Warren. This comes

1426
01:11:46,520 --> 01:11:49,160
Speaker 1: from her playbook that you don't just tax income, you

1427
01:11:49,280 --> 01:11:52,160
Speaker 1: go after people's assets and wealth. And maybe it doesn't

1428
01:11:52,200 --> 01:11:54,880
Speaker 1: have legs, but this is something that is going to

1429
01:11:54,920 --> 01:11:58,240
Speaker 1: resonate with many members of the public. The demonstrable reality

1430
01:11:58,720 --> 01:12:02,200
Speaker 1: is Greg Vailier said, get out the moving vans. Here

1431
01:12:02,280 --> 01:12:04,760
Speaker 1: come the moving vans. Is what he says, verbatim. I

1432
01:12:04,840 --> 01:12:07,080
Speaker 1: mean this has been proven to Florida and other states

1433
01:12:07,120 --> 01:12:11,000
Speaker 1: as well, Florida, Arizona. There has been you see an

1434
01:12:11,040 --> 01:12:14,719
Speaker 1: exodus at times of people from these very high tax cities.

1435
01:12:14,760 --> 01:12:16,719
Speaker 1: Think about those living in New York City, you pay federal,

1436
01:12:16,800 --> 01:12:18,960
Speaker 1: you pay state, or you pay city tax. You have

1437
01:12:20,040 --> 01:12:22,800
Speaker 1: incredibly high rents, and then with an elation on top

1438
01:12:22,840 --> 01:12:25,000
Speaker 1: of that, and you compound that with the fact that

1439
01:12:25,080 --> 01:12:27,320
Speaker 1: you can for most people start to work more remotely

1440
01:12:27,360 --> 01:12:29,560
Speaker 1: at home. We obviously saw that exodus to Florida, and

1441
01:12:29,640 --> 01:12:32,439
Speaker 1: potentially there's a wealth tax. It'll continue. I know you're laughing. Oh,

1442
01:12:32,479 --> 01:12:34,840
Speaker 1: I saw. I walked by Pharaoh's desks the other day.

1443
01:12:34,840 --> 01:12:36,519
Speaker 1: We never talked. I walked by his desk once a year.

1444
01:12:36,560 --> 01:12:38,519
Speaker 1: He's got a map of Texas out of the desk.

1445
01:12:39,240 --> 01:12:41,080
Speaker 1: Tatis story to everyone. I rememberhen I was moving over

1446
01:12:41,160 --> 01:12:43,680
Speaker 1: here seven eight years ago and the accountant said, they

1447
01:12:43,720 --> 01:12:46,160
Speaker 1: give me a call. Bloomberg offs great service to relocate.

1448
01:12:46,160 --> 01:12:47,439
Speaker 1: So I take this call with the account I'm thinking,

1449
01:12:47,439 --> 01:12:49,559
Speaker 1: I'm gonna paying lower taxes in America. This will be great.

1450
01:12:50,080 --> 01:12:52,000
Speaker 1: Gets on the phone and says federal income tax will

1451
01:12:52,000 --> 01:12:54,320
Speaker 1: be excell I'm thinking fantastics. That's down from where I

1452
01:12:54,360 --> 01:12:55,360
Speaker 1: was in the UK. And they said no, no, no,

1453
01:12:55,400 --> 01:12:57,120
Speaker 1: we're not done. And then they start going state Citty.

1454
01:12:57,160 --> 01:12:59,160
Speaker 1: I'm like, what are you talking of? This is this

1455
01:12:59,439 --> 01:13:01,720
Speaker 1: is so important and I'll let you go back to

1456
01:13:01,760 --> 01:13:05,560
Speaker 1: Amrie Here, John, the summation of the meny taxes is

1457
01:13:05,600 --> 01:13:07,240
Speaker 1: and then they've got pretty taxes on top of that.

1458
01:13:07,600 --> 01:13:08,880
Speaker 1: Question I keep asking me is how on s do

1459
01:13:08,880 --> 01:13:11,240
Speaker 1: you retire it? Personally? Love here how the segment just

1460
01:13:11,360 --> 01:13:14,000
Speaker 1: evolves into a big pity party about how unbearably high

1461
01:13:14,000 --> 01:13:15,920
Speaker 1: their taxes are and how low taxes for the rich

1462
01:13:15,960 --> 01:13:18,599
Speaker 1: in the US are A quote Canard, here's a little

1463
01:13:18,680 --> 01:13:21,879
Speaker 1: reality check. Thanks to Trump's tax cut, the wealthiest Americans,

1464
01:13:21,960 --> 01:13:24,760
Speaker 1: once all taxes are considered local, state, and federal, pay

1465
01:13:25,080 --> 01:13:30,080
Speaker 1: less in taxes than any other income group. Take a

1466
01:13:30,120 --> 01:13:32,360
Speaker 1: look at these graphics. On one side, you can see

1467
01:13:32,400 --> 01:13:34,599
Speaker 1: what a reasonable tax system looks like, where the wealthier

1468
01:13:34,680 --> 01:13:37,960
Speaker 1: actually pay more. Back in nineteen fifty, that is the

1469
01:13:38,000 --> 01:13:40,160
Speaker 1: way our system worked. But with the end of the

1470
01:13:40,240 --> 01:13:42,720
Speaker 1: New Deal era and the rise of market fundamentalism and

1471
01:13:42,760 --> 01:13:45,240
Speaker 1: trickle down and the onslaught of unfettered money in politics,

1472
01:13:45,479 --> 01:13:49,599
Speaker 1: we've now got the relationship completely upside down again. After

1473
01:13:49,720 --> 01:13:52,120
Speaker 1: those Trump tax cuts, for the first time in twenty eighteen,

1474
01:13:52,520 --> 01:13:56,439
Speaker 1: the richest Americans paid a lower tax rate than every

1475
01:13:56,640 --> 01:14:00,280
Speaker 1: single other group. Think about how discussing that is. They

1476
01:14:00,360 --> 01:14:03,559
Speaker 1: have rigged the system so much that a waitress earning

1477
01:14:03,600 --> 01:14:05,680
Speaker 1: a tipped minimum wage of let's say, three dollars an

1478
01:14:05,720 --> 01:14:09,400
Speaker 1: hour has to pay more in tax than literal billionaires.

1479
01:14:09,400 --> 01:14:11,920
Speaker 1: And yet these fools are out here on TV crying

1480
01:14:11,920 --> 01:14:14,400
Speaker 1: about how unfair it all is to the wealthy. Let

1481
01:14:14,479 --> 01:14:16,120
Speaker 1: me give you a couple more stats in our little

1482
01:14:16,160 --> 01:14:19,000
Speaker 1: reality check moment here, the pandemic has ushered in an

1483
01:14:19,120 --> 01:14:22,240
Speaker 1: even warshocking era of wealth hoarding. Two thirds of all

1484
01:14:22,320 --> 01:14:25,280
Speaker 1: new wealth created globally since the start of COVID went

1485
01:14:25,360 --> 01:14:28,960
Speaker 1: to the top one percent, So sixty six percent of

1486
01:14:29,240 --> 01:14:33,960
Speaker 1: all new wealth went to just one percent of people. Meanwhile,

1487
01:14:34,200 --> 01:14:36,559
Speaker 1: right here in the US, the number of people putting

1488
01:14:36,600 --> 01:14:39,400
Speaker 1: off medical care because they can't afford it reached a

1489
01:14:39,720 --> 01:14:43,799
Speaker 1: record all time high in twenty twenty two. It spiked

1490
01:14:44,040 --> 01:14:47,519
Speaker 1: twelve percentage points in a single year. Thirty eight percent

1491
01:14:47,560 --> 01:14:50,519
Speaker 1: of Americans are putting off basic medical care because of cost,

1492
01:14:50,920 --> 01:14:52,720
Speaker 1: and a majority of these said that the care that

1493
01:14:52,760 --> 01:14:56,240
Speaker 1: they needed was for at least a somewhat serious condition.

1494
01:14:56,880 --> 01:14:59,560
Speaker 1: We wonder why we're all sicker and dying earlier, But

1495
01:14:59,600 --> 01:15:02,320
Speaker 1: go ahead, cry more about some incredibly modest proposals to

1496
01:15:02,920 --> 01:15:05,240
Speaker 1: tax the rich just a little bit more cry and

1497
01:15:05,320 --> 01:15:07,280
Speaker 1: threaten to move to another state where they'll allow the

1498
01:15:07,320 --> 01:15:09,760
Speaker 1: plutocrat class to fully run the show exactly as you

1499
01:15:09,840 --> 01:15:12,600
Speaker 1: want it. Although I do have to say much as

1500
01:15:12,640 --> 01:15:15,040
Speaker 1: I find these people's world you discussing and greedy, the

1501
01:15:15,200 --> 01:15:17,599
Speaker 1: rich really do have a track record of relocating their

1502
01:15:17,680 --> 01:15:20,519
Speaker 1: well from state to state for tax avoids purposes. So

1503
01:15:20,960 --> 01:15:22,920
Speaker 1: their cry baby threats to take their money and go

1504
01:15:23,040 --> 01:15:26,680
Speaker 1: elsewhere they're not idle California and New York Illinois comparatively

1505
01:15:26,760 --> 01:15:29,920
Speaker 1: higher tax locales. They've all been losing population of places

1506
01:15:29,960 --> 01:15:33,000
Speaker 1: like Florida, Arizona, and Texas. Plenty of wealthy New Yorkers

1507
01:15:33,000 --> 01:15:35,880
Speaker 1: spend just enough days in Florida to technically reside in

1508
01:15:35,960 --> 01:15:38,759
Speaker 1: that state. Now, that's not to say these statewide efforts

1509
01:15:38,760 --> 01:15:42,320
Speaker 1: are not a worthy endeavor, but they're no substitute for

1510
01:15:42,439 --> 01:15:47,400
Speaker 1: better tax policy at the federal level. Insanely, Republicans right

1511
01:15:47,479 --> 01:15:50,200
Speaker 1: now are pushing in the complete opposite direction with a

1512
01:15:50,320 --> 01:15:54,040
Speaker 1: so called fair tax proposal that would guarantee a regressive

1513
01:15:54,080 --> 01:15:56,080
Speaker 1: tax system, with the wealthiest paying the least and the

1514
01:15:56,160 --> 01:15:59,560
Speaker 1: poorest paying the most. A vote on this monstrosity was

1515
01:15:59,680 --> 01:16:01,800
Speaker 1: one of the demands of the McCarthy t Party two

1516
01:16:01,840 --> 01:16:05,000
Speaker 1: point zero holdouts. The bill proposed to eliminate the income

1517
01:16:05,080 --> 01:16:07,400
Speaker 1: tax in favor of a national sales tax, and it

1518
01:16:07,439 --> 01:16:11,080
Speaker 1: would dramatically hike the price of everything from groceries to

1519
01:16:11,200 --> 01:16:14,719
Speaker 1: prescription drugs. Sounds awesome, right? You know how expensive everything

1520
01:16:14,840 --> 01:16:16,840
Speaker 1: is right now? How'd you like to pay like twenty

1521
01:16:16,880 --> 01:16:20,200
Speaker 1: percent more on everything? What's more, since the poorest must

1522
01:16:20,200 --> 01:16:22,200
Speaker 1: spend a much higher percentage of their income on things

1523
01:16:22,240 --> 01:16:26,400
Speaker 1: like groceries, the tax is inherently regressive, codifying into place

1524
01:16:26,680 --> 01:16:30,560
Speaker 1: a thoroughly backward system whereby the rich are guaranteed to

1525
01:16:30,600 --> 01:16:32,840
Speaker 1: pay next to nothing in comparison to their income, and

1526
01:16:32,960 --> 01:16:35,920
Speaker 1: the poor take it on the chin. As to the Democrats,

1527
01:16:36,320 --> 01:16:39,800
Speaker 1: they failed miserably while they were in control. They let

1528
01:16:39,840 --> 01:16:42,880
Speaker 1: the Trump tax cut stand. They did nothing on capital gains,

1529
01:16:42,960 --> 01:16:45,960
Speaker 1: or wealth taxes or estate taxes, just as Joe Biden

1530
01:16:46,000 --> 01:16:49,880
Speaker 1: famously promised, nothing fundamentally changed. And now two of the

1531
01:16:49,960 --> 01:16:54,200
Speaker 1: primary villains and guaranteeing the disgusting status quo remains, kirston

1532
01:16:54,240 --> 01:16:58,080
Speaker 1: Cinema and Joe Manchin are literally high fiving in Davos.

1533
01:16:58,400 --> 01:17:02,200
Speaker 1: Bottom line, our boat friends over at Bloomberg can probably

1534
01:17:02,320 --> 01:17:05,479
Speaker 1: rest easy. The politicians they bought still have their back.

1535
01:17:06,439 --> 01:17:08,400
Speaker 1: Love these little moments, and if you want to hear

1536
01:17:08,560 --> 01:17:11,920
Speaker 1: my reaction to Crystal's monologue, become a premium subscriber today

1537
01:17:12,040 --> 01:17:17,960
Speaker 1: at breakingpoints dot com, we've been tracking an important story

1538
01:17:18,160 --> 01:17:21,880
Speaker 1: of potential academic censorship. We're very excited to welcome to

1539
01:17:22,080 --> 01:17:25,360
Speaker 1: Kenneth Roth to speak about this. He was the executive

1540
01:17:25,360 --> 01:17:27,679
Speaker 1: director of Human Rights Watch from ninety three to twenty

1541
01:17:27,720 --> 01:17:30,200
Speaker 1: twenty two. He's currently writing a book. And let's go

1542
01:17:30,200 --> 01:17:32,479
Speaker 1: ahead and put this recent i'p ed from mister Roth

1543
01:17:32,560 --> 01:17:35,000
Speaker 1: on the screen. Here. He says, I once ran Human

1544
01:17:35,120 --> 01:17:40,439
Speaker 1: Rights Watch, Harvard blocked my fellowship over Israel. Welcome to

1545
01:17:40,479 --> 01:17:43,640
Speaker 1: the show, sir, glad to have you, Thanks for having me,

1546
01:17:43,760 --> 01:17:45,960
Speaker 1: my pleasure to be here. Yeah, of course, so just

1547
01:17:46,280 --> 01:17:49,280
Speaker 1: tell us what happened here. Well. When I announced that

1548
01:17:49,400 --> 01:17:52,360
Speaker 1: I would be leaving Human Rights Watch last April, I

1549
01:17:52,479 --> 01:17:54,360
Speaker 1: was planning to leave as at the end of August.

1550
01:17:55,080 --> 01:17:58,960
Speaker 1: I very quickly received a call from the car Center

1551
01:17:59,080 --> 01:18:01,840
Speaker 1: for Human Rights Policy, which is part of the Harvard

1552
01:18:01,880 --> 01:18:04,880
Speaker 1: Kennedy School, and they asked would I'd be interested in

1553
01:18:05,080 --> 01:18:08,320
Speaker 1: being a senior fellow there during the current academic year.

1554
01:18:08,760 --> 01:18:10,800
Speaker 1: So I could work on my book there, and we

1555
01:18:10,960 --> 01:18:13,000
Speaker 1: went back and forth a little bit, and I basically said, yes,

1556
01:18:13,040 --> 01:18:15,960
Speaker 1: you know, that sounds like a good idea, and we

1557
01:18:16,120 --> 01:18:17,840
Speaker 1: thought that that was pretty much a done deal. There

1558
01:18:17,880 --> 01:18:20,040
Speaker 1: was one technical step that still needed to be taken.

1559
01:18:20,360 --> 01:18:23,960
Speaker 1: We needed the sign off of Dean Douglas Almendorff, the

1560
01:18:24,040 --> 01:18:26,240
Speaker 1: head of the Kennedy School. But we assumed that that

1561
01:18:26,280 --> 01:18:29,200
Speaker 1: would be just a mere formality, and so I actually

1562
01:18:29,680 --> 01:18:32,920
Speaker 1: over the summer contacted Almondorff and said, look, I'm going

1563
01:18:32,960 --> 01:18:34,920
Speaker 1: to be there in September. Let's get to know each other.

1564
01:18:35,360 --> 01:18:38,599
Speaker 1: And we arranged a zoom conversation and had a very

1565
01:18:38,760 --> 01:18:42,200
Speaker 1: pleasant half hour chat until the end, and then he

1566
01:18:42,320 --> 01:18:45,040
Speaker 1: asked me this weird question. He said, do you have

1567
01:18:45,200 --> 01:18:48,479
Speaker 1: any enemies? Now this is odd for me, because you know,

1568
01:18:48,640 --> 01:18:51,240
Speaker 1: I've got a gazillion enemies. I mean, I've headed Human

1569
01:18:51,280 --> 01:18:55,320
Speaker 1: Rights Slatch for three decades. You know, we document governments

1570
01:18:55,400 --> 01:18:58,840
Speaker 1: human rights violations, criticized them for it. They hate that,

1571
01:18:59,280 --> 01:19:02,479
Speaker 1: so many of them me and I ran through that

1572
01:19:02,680 --> 01:19:05,639
Speaker 1: with Almandorf. I said, well, you know, the Chinese government

1573
01:19:05,920 --> 01:19:08,880
Speaker 1: and the Russian government have personally imposed sanctions on me.

1574
01:19:09,439 --> 01:19:12,719
Speaker 1: I mentioned the Saudi government and the Rwandan government particularly

1575
01:19:12,760 --> 01:19:14,639
Speaker 1: to test me. But you know, I had an idea

1576
01:19:14,680 --> 01:19:17,120
Speaker 1: what he was driving at, so I said, And also

1577
01:19:17,560 --> 01:19:20,760
Speaker 1: the Israeli government doesn't like me. And that turned out

1578
01:19:20,800 --> 01:19:23,479
Speaker 1: to be the kiss of death because two weeks later

1579
01:19:23,520 --> 01:19:25,840
Speaker 1: I got a phone call from my friends at the

1580
01:19:25,920 --> 01:19:29,840
Speaker 1: car center who had to sheepishly admit that Dean Almendorf

1581
01:19:30,160 --> 01:19:34,240
Speaker 1: had vetoed my fellowship because of my and Human Rights

1582
01:19:34,280 --> 01:19:38,479
Speaker 1: Watches criticism of Israel. Wow. I mean, it's outraged, and

1583
01:19:38,600 --> 01:19:41,080
Speaker 1: this is something I want to focus on with you specifically,

1584
01:19:41,160 --> 01:19:44,280
Speaker 1: because you named a number of other governments. One of

1585
01:19:44,600 --> 01:19:48,280
Speaker 1: the accusations I believe that was leveled against you is

1586
01:19:48,360 --> 01:19:53,960
Speaker 1: that you disproportionately spend time criticizing Israel, whereas those appeared

1587
01:19:54,000 --> 01:19:56,240
Speaker 1: to be ones where it might be more controversial. But

1588
01:19:56,680 --> 01:19:59,519
Speaker 1: you know, layout your other track record, not just Israel,

1589
01:19:59,560 --> 01:20:01,519
Speaker 1: but everything that you covered while you were there for

1590
01:20:01,640 --> 01:20:04,960
Speaker 1: three decades, right, Yeah, I mean that's an odd accusation

1591
01:20:05,040 --> 01:20:06,559
Speaker 1: because I mean, first of all, if you just look

1592
01:20:06,560 --> 01:20:10,840
Speaker 1: at the facts, Israel is one of one hundred governments

1593
01:20:11,160 --> 01:20:14,320
Speaker 1: that Human Rights Quash regularly reports on, so you know,

1594
01:20:14,479 --> 01:20:16,640
Speaker 1: it's like one maybe two percent of our work. I mean,

1595
01:20:16,680 --> 01:20:19,080
Speaker 1: it's a tiny, tiny percentage of our work, So to

1596
01:20:19,160 --> 01:20:22,400
Speaker 1: say that we're disproportionately focused on Israel is just you know, ridiculous.

1597
01:20:22,800 --> 01:20:24,720
Speaker 1: But the other thing is that the people who make

1598
01:20:24,800 --> 01:20:28,200
Speaker 1: that allegation. There there's this sort of cottage industry of

1599
01:20:28,320 --> 01:20:32,559
Speaker 1: little groups of partisan defenders of the Israeli government, and they,

1600
01:20:33,080 --> 01:20:35,040
Speaker 1: in their view, you know, the Israeli government is never

1601
01:20:35,120 --> 01:20:37,880
Speaker 1: in the history of the world committed to human rights violation.

1602
01:20:38,200 --> 01:20:42,080
Speaker 1: They devote themselves to attacking anybody who criticizes Israel, and

1603
01:20:42,240 --> 01:20:44,560
Speaker 1: then you know, that epitome of bias. They have the

1604
01:20:44,640 --> 01:20:48,160
Speaker 1: audacity to claim that we're biased because we impartially apply

1605
01:20:48,320 --> 01:20:51,320
Speaker 1: the same factual and legal standards to Israel as we

1606
01:20:51,400 --> 01:20:53,760
Speaker 1: do to everybody else. It's just absurd. Yeah, And I

1607
01:20:53,760 --> 01:20:57,080
Speaker 1: don't think there's any doubt when you apply that same

1608
01:20:57,160 --> 01:21:00,320
Speaker 1: criticism to one of the you know, adversaries of the

1609
01:21:00,439 --> 01:21:02,800
Speaker 1: United States government, let's say, in Iran or Syria or

1610
01:21:02,800 --> 01:21:06,840
Speaker 1: another nation, there isn't nearly the same level of pushback.

1611
01:21:07,640 --> 01:21:10,160
Speaker 1: I'd love to delve into some of the facts in

1612
01:21:10,280 --> 01:21:13,680
Speaker 1: reality here at Human Rights Watch. You all authored a

1613
01:21:13,760 --> 01:21:16,519
Speaker 1: report that I followed very closely titled This was April

1614
01:21:16,560 --> 01:21:19,519
Speaker 1: twenty seven to twenty twenty one, a threshold crossed Israeli

1615
01:21:19,600 --> 01:21:23,560
Speaker 1: authorities and the crimes of apartheid and persecution. What is

1616
01:21:23,640 --> 01:21:26,439
Speaker 1: the critique that you level there, and obviously the word

1617
01:21:26,520 --> 01:21:29,639
Speaker 1: apartheid very strong, What is the evidence that you use

1618
01:21:29,680 --> 01:21:33,400
Speaker 1: to bolster that claim. I think you're right for bringing

1619
01:21:33,439 --> 01:21:35,000
Speaker 1: that up, because I think that that is you know,

1620
01:21:35,080 --> 01:21:39,200
Speaker 1: a lot of what's behind this veto of my fellowship.

1621
01:21:39,640 --> 01:21:43,920
Speaker 1: But what we did we were not making very explicitly,

1622
01:21:44,040 --> 01:21:47,280
Speaker 1: not making an historical analogy to South Africa. Rather, we

1623
01:21:47,400 --> 01:21:51,040
Speaker 1: were applying international law. And there are two relevant treaties here.

1624
01:21:51,080 --> 01:21:54,479
Speaker 1: There's the UN Convention against Apartheid and then there's the

1625
01:21:54,600 --> 01:21:57,679
Speaker 1: Roman Statute of the International Criminal Court, and this that's

1626
01:21:57,680 --> 01:22:00,000
Speaker 1: worth really clearly. You know, these are the legal stats.

1627
01:22:00,680 --> 01:22:04,000
Speaker 1: And then in a two hundred page report which is

1628
01:22:04,120 --> 01:22:09,000
Speaker 1: incredibly detailed, we outlined, you know, why there was this

1629
01:22:09,120 --> 01:22:12,400
Speaker 1: suppressive discrimination against Palestinians. And you know, if you spend

1630
01:22:12,479 --> 01:22:14,519
Speaker 1: time in the West Bank, it actually is pretty obvious.

1631
01:22:14,600 --> 01:22:17,200
Speaker 1: You know, you have these you know, well developed, beautiful

1632
01:22:17,280 --> 01:22:20,760
Speaker 1: Israeli settlements where you know, Israelis get to live under

1633
01:22:20,840 --> 01:22:23,559
Speaker 1: civil law with the full freedoms of an Israeli citizen.

1634
01:22:24,040 --> 01:22:26,360
Speaker 1: And then you know right next door in area Sea

1635
01:22:26,400 --> 01:22:29,120
Speaker 1: of the West Bank, you'll have these Palestinian villages where

1636
01:22:29,320 --> 01:22:32,000
Speaker 1: they can't even add a bedroom without getting it demolished.

1637
01:22:32,280 --> 01:22:35,200
Speaker 1: You know, they have to travel on separate roads, they

1638
01:22:35,280 --> 01:22:37,760
Speaker 1: need passes to get through checkpoints. I mean, it has

1639
01:22:37,920 --> 01:22:40,560
Speaker 1: all the hallmarks of apartheid. And the real question, I

1640
01:22:40,600 --> 01:22:43,320
Speaker 1: mean we've been asked, why didn't you call it apartheid earlier?

1641
01:22:43,360 --> 01:22:45,439
Speaker 1: And I think that's you know, that's a fair question.

1642
01:22:46,000 --> 01:22:49,120
Speaker 1: But for many years when we would point out this

1643
01:22:49,120 --> 01:22:52,120
Speaker 1: suppressive discrimination, people would say, oh, yeah, but you know,

1644
01:22:52,200 --> 01:22:55,200
Speaker 1: don't worry, there's the peace process. Once we have peace,

1645
01:22:55,439 --> 01:22:58,360
Speaker 1: all this will be taken care of. And that defense

1646
01:22:58,880 --> 01:23:01,840
Speaker 1: just stop being credible because there is no peace process

1647
01:23:02,000 --> 01:23:04,640
Speaker 1: right now. It's completely moribund. The current government is going

1648
01:23:04,680 --> 01:23:08,479
Speaker 1: in the opposite direction from any conceivable two state solution.

1649
01:23:09,040 --> 01:23:11,519
Speaker 1: And so we just you know, looked at the reality today.

1650
01:23:11,800 --> 01:23:13,559
Speaker 1: We're not going to assess the future. We just said

1651
01:23:13,760 --> 01:23:16,320
Speaker 1: what's it today? And there's just no question that it's

1652
01:23:16,360 --> 01:23:18,040
Speaker 1: a part time. This is what Human Rights Watch found,

1653
01:23:18,280 --> 01:23:20,920
Speaker 1: This is what Betsellum, the leading Israeli group, found, This

1654
01:23:20,960 --> 01:23:23,400
Speaker 1: is what Amnesty International found and you know, a plethora

1655
01:23:23,439 --> 01:23:25,400
Speaker 1: of other groups as well. So, I mean that's just

1656
01:23:25,600 --> 01:23:28,160
Speaker 1: the ugly reality. I wish it wasn't so, but it

1657
01:23:28,280 --> 01:23:31,040
Speaker 1: is what it is. Yeah, And you know, look, even

1658
01:23:31,040 --> 01:23:33,599
Speaker 1: if you disagree, I don't think that's grounds for I mean,

1659
01:23:33,640 --> 01:23:35,840
Speaker 1: I mean the idea that Harvard is supposed to be

1660
01:23:36,000 --> 01:23:40,120
Speaker 1: like endorsing all of the like the opinions of its fellows,

1661
01:23:40,160 --> 01:23:43,800
Speaker 1: I mean, that seems pretty ridiculous in an academic point

1662
01:23:43,840 --> 01:23:45,880
Speaker 1: of view. My question also is do you have any

1663
01:23:45,920 --> 01:23:48,720
Speaker 1: idea who the why where did the pressure on the

1664
01:23:48,800 --> 01:23:51,760
Speaker 1: dean come from? So was it you know, above his

1665
01:23:52,000 --> 01:23:56,760
Speaker 1: pay grade? Is it donor based like what's happening? Yeah? Well,

1666
01:23:56,800 --> 01:23:58,240
Speaker 1: first let me just pick up in your earlier point

1667
01:23:58,280 --> 01:24:00,519
Speaker 1: when you just say, you know, this is the school.

1668
01:24:00,880 --> 01:24:02,559
Speaker 1: So the Chemty School was supposed to be the nation's

1669
01:24:02,560 --> 01:24:05,760
Speaker 1: you know, foremost policy institute where they teach, you know,

1670
01:24:05,880 --> 01:24:09,120
Speaker 1: tomorrow's the next generation of leaders how to deal with

1671
01:24:09,200 --> 01:24:11,560
Speaker 1: domestic policy and how to deal with foreign policy. You know,

1672
01:24:11,800 --> 01:24:15,439
Speaker 1: how you address the Israeli government, you know, given its

1673
01:24:15,600 --> 01:24:19,719
Speaker 1: right word dangerous trend is the classic thing that Kennedy

1674
01:24:19,800 --> 01:24:23,679
Speaker 1: School students should learn about. But Evidently Dan Elmendorf doesn't

1675
01:24:23,720 --> 01:24:27,040
Speaker 1: want them to hear, you know, an impartial perspective, as

1676
01:24:27,120 --> 01:24:31,040
Speaker 1: Human Rights Watch would present. He invites literally ten Israeli

1677
01:24:31,120 --> 01:24:34,599
Speaker 1: officials to the Kennedy School every single year. But they're

1678
01:24:34,600 --> 01:24:39,160
Speaker 1: all partial. That's fine, But an impartial observer like me,

1679
01:24:39,320 --> 01:24:42,040
Speaker 1: like Human Rights Watch, No, apparently that's not okay. Now,

1680
01:24:42,160 --> 01:24:44,920
Speaker 1: what was going on behind the scenes? We know that

1681
01:24:45,040 --> 01:24:47,760
Speaker 1: it was because of my criticism of Israel. Elmandorf has

1682
01:24:47,880 --> 01:24:51,360
Speaker 1: said that to Catherine Sikink, a very respective professor at

1683
01:24:51,439 --> 01:24:55,439
Speaker 1: Kennedy School, and he also told Matthias Reese, the faculty

1684
01:24:55,479 --> 01:24:59,240
Speaker 1: director of the Car Center, that people who mattered to

1685
01:24:59,400 --> 01:25:03,400
Speaker 1: him objected to my fellowship. Now we don't know what

1686
01:25:03,600 --> 01:25:07,400
Speaker 1: that means. You know, he doesn't seem to have a

1687
01:25:07,479 --> 01:25:11,280
Speaker 1: personal strong view on Israel. But who these people who

1688
01:25:11,360 --> 01:25:14,760
Speaker 1: mattered to him were, you know, were they donors The Nation?

1689
01:25:14,920 --> 01:25:17,960
Speaker 1: Michael Massing's article in The Nation outlined a number of

1690
01:25:18,120 --> 01:25:20,080
Speaker 1: very big donors to the Kennedy School who are big

1691
01:25:20,120 --> 01:25:23,160
Speaker 1: supporters of Israel. Did he consult with them? Did he

1692
01:25:23,479 --> 01:25:26,479
Speaker 1: surmise what they would think? Was it some other influence

1693
01:25:26,560 --> 01:25:29,599
Speaker 1: that undermined academic freedom? We don't know, but the bottom

1694
01:25:29,680 --> 01:25:32,920
Speaker 1: line is the message that Harvard is sending is disastrous.

1695
01:25:32,960 --> 01:25:36,880
Speaker 1: It's suggesting that, you know, if you criticize Israel, that's

1696
01:25:37,000 --> 01:25:42,160
Speaker 1: the third rail that will compromise your academic career. Yeah, well,

1697
01:25:42,240 --> 01:25:44,640
Speaker 1: we actually have that Nation article. We can put that

1698
01:25:44,760 --> 01:25:47,360
Speaker 1: tear sheet up on the screen that tracks some of

1699
01:25:47,439 --> 01:25:51,640
Speaker 1: the significant contributors and donors to Harvard and their pro

1700
01:25:51,800 --> 01:25:54,840
Speaker 1: Israeli stances and asks whether this is you know, the reason,

1701
01:25:55,360 --> 01:25:57,559
Speaker 1: whether these were the people that mattered to the dean

1702
01:25:57,640 --> 01:26:01,120
Speaker 1: that ultimately asked your fellowship there. And part of what

1703
01:26:01,200 --> 01:26:04,240
Speaker 1: I hate about this is, frankly, the dean, by taking

1704
01:26:04,280 --> 01:26:07,479
Speaker 1: these sort of actions, plays into some of the anti

1705
01:26:07,560 --> 01:26:11,400
Speaker 1: Semitic tropes about you know, a couple behind the scenes,

1706
01:26:11,520 --> 01:26:14,599
Speaker 1: well moneyed, et cetera, et cetera. And I mean that's

1707
01:26:14,840 --> 01:26:17,439
Speaker 1: one of the angles of this that I find disturbing

1708
01:26:17,479 --> 01:26:20,439
Speaker 1: and problematic. But you know, listen, you're writing a book,

1709
01:26:20,600 --> 01:26:23,240
Speaker 1: You're you're well established in your career, You're going to

1710
01:26:23,280 --> 01:26:26,640
Speaker 1: be just fine. You didn't necessarily need this fellowship. So

1711
01:26:26,960 --> 01:26:29,479
Speaker 1: what do you think is the bigger, broader lesson here?

1712
01:26:30,400 --> 01:26:32,720
Speaker 1: Why did you feel it was important to take your

1713
01:26:32,760 --> 01:26:37,320
Speaker 1: personal story public? Well, You're absolutely right. This is not

1714
01:26:37,560 --> 01:26:40,120
Speaker 1: compromising my future. I'm fine. I have plenty of options

1715
01:26:40,160 --> 01:26:42,120
Speaker 1: because I you know, I've been leading him Rights Uch

1716
01:26:42,160 --> 01:26:44,280
Speaker 1: for three decades, so I will go someplace else. I

1717
01:26:44,320 --> 01:26:47,480
Speaker 1: am already someplace else, and I'll continue finding other opportunities.

1718
01:26:48,080 --> 01:26:50,880
Speaker 1: But as I said, I really worry about, you know,

1719
01:26:51,000 --> 01:26:55,479
Speaker 1: the younger academic, the junior scholar, even the student who

1720
01:26:56,080 --> 01:26:58,360
Speaker 1: you know, when they look at the situation, might honestly

1721
01:26:58,439 --> 01:27:00,840
Speaker 1: want to criticize this reel. But now all says, well,

1722
01:27:01,120 --> 01:27:04,040
Speaker 1: I better or not, this may really cost me my future.

1723
01:27:04,560 --> 01:27:07,080
Speaker 1: And you know, Dean Elmendorf for the Kenny School seems

1724
01:27:07,080 --> 01:27:08,920
Speaker 1: at this point paralyzed. I mean, it's just hard to

1725
01:27:09,040 --> 01:27:12,200
Speaker 1: know what he's going to do. So we've appealed to

1726
01:27:12,439 --> 01:27:15,759
Speaker 1: Laurence Backau, the president of Harvard, to step in because

1727
01:27:15,960 --> 01:27:19,280
Speaker 1: this is really, you know, Harvard's reputation that is at stake.

1728
01:27:19,760 --> 01:27:23,160
Speaker 1: And you know, if anybody can stand up to donor pressure,

1729
01:27:23,160 --> 01:27:26,679
Speaker 1: if anybody can offer a principles defense of academic freedom,

1730
01:27:26,920 --> 01:27:29,680
Speaker 1: it's Harvard, the richest university in the world. You know,

1731
01:27:29,800 --> 01:27:32,240
Speaker 1: when I ran Human Rights Watch, you know, if somebody

1732
01:27:32,320 --> 01:27:34,400
Speaker 1: came to me and said, you know, here's some money,

1733
01:27:34,479 --> 01:27:37,880
Speaker 1: but we want you to exempt our favorite country. I

1734
01:27:37,920 --> 01:27:40,800
Speaker 1: would say, no, we're not the organization for you. You know,

1735
01:27:41,080 --> 01:27:43,559
Speaker 1: we have to, like you know, apply equal standards to everybody.

1736
01:27:43,720 --> 01:27:46,599
Speaker 1: And that's just the cost of being principled. Harvard can

1737
01:27:46,640 --> 01:27:48,880
Speaker 1: afford to do the same thing. It can announce that

1738
01:27:49,160 --> 01:27:52,400
Speaker 1: regardless of donor pressure, regardless of external pressure, they are

1739
01:27:52,560 --> 01:27:55,320
Speaker 1: not going to compromise academic freedom. They are going to

1740
01:27:55,439 --> 01:28:00,920
Speaker 1: uphold intellectual independence. Harvard can't do that. Who can? Yeah, Actually,

1741
01:28:00,960 --> 01:28:03,880
Speaker 1: such a great point. I'm eighty two billion dollar indowmen, exactly.

1742
01:28:04,040 --> 01:28:07,200
Speaker 1: I mean, if they lose a few donations, they're going

1743
01:28:07,280 --> 01:28:09,920
Speaker 1: to be just fine. Thank you so much for taking

1744
01:28:10,000 --> 01:28:11,920
Speaker 1: the time. Good luck in the next endeavor. Let us

1745
01:28:11,920 --> 01:28:13,320
Speaker 1: know when the book comes out so we can talk

1746
01:28:13,320 --> 01:28:15,760
Speaker 1: to you about that as well. Really grateful to get

1747
01:28:15,800 --> 01:28:17,280
Speaker 1: to talk to you today. I'm enjoyed talking to you, sir.

1748
01:28:17,360 --> 01:28:19,639
Speaker 1: Thank you. That'd be great. Thanks for having me. Yeah,

1749
01:28:19,640 --> 01:28:21,560
Speaker 1: our pleasure. Thank you guys so much for watching. We

1750
01:28:21,640 --> 01:28:24,320
Speaker 1: really appreciate it. Maybe that'll piss some people off, don't

1751
01:28:24,320 --> 01:28:26,759
Speaker 1: particularly care, but listen, we care a lot about censorship

1752
01:28:26,840 --> 01:28:29,040
Speaker 1: and all realms of our society here and this is

1753
01:28:29,120 --> 01:28:31,400
Speaker 1: one which you're probably not going to hear about in

1754
01:28:31,479 --> 01:28:33,560
Speaker 1: some of the conservative press that often talks about it.

1755
01:28:33,640 --> 01:28:36,120
Speaker 1: So it's important to give people a fullsome picture of

1756
01:28:36,240 --> 01:28:38,960
Speaker 1: everything that's going on in our society. This is a

1757
01:28:39,120 --> 01:28:42,120
Speaker 1: major one too, which look as an American, the idea

1758
01:28:42,479 --> 01:28:45,360
Speaker 1: that you can't criticize anybody and you know, not face

1759
01:28:45,439 --> 01:28:49,000
Speaker 1: pressure like this and supposedly the nation's premier academic institution,

1760
01:28:49,280 --> 01:28:51,519
Speaker 1: that really pisses me off. When I went to Georgetown

1761
01:28:51,560 --> 01:28:53,639
Speaker 1: for my graduate degree, I walked past the sign every

1762
01:28:53,680 --> 01:28:56,200
Speaker 1: single day saying this building was go donated by the

1763
01:28:56,280 --> 01:28:59,120
Speaker 1: Kingdom of Saudi Arabia. And I don't remember anybody baton

1764
01:28:59,160 --> 01:29:02,560
Speaker 1: and I over that, or any Georgetown faculty getting in

1765
01:29:02,640 --> 01:29:05,439
Speaker 1: trouble for saying it. Well, it's not like any of them, Actress.

1766
01:29:05,800 --> 01:29:08,439
Speaker 1: It's the point about how they welcome ten Israeli officials.

1767
01:29:08,560 --> 01:29:12,360
Speaker 1: That's no problem, right, they're considered impartial. But the head

1768
01:29:12,439 --> 01:29:15,439
Speaker 1: for three decades of Human Rights Watch that soundabouts like,

1769
01:29:15,520 --> 01:29:18,800
Speaker 1: come on, all right, insanity anyway, Thank you so much

1770
01:29:18,800 --> 01:29:20,240
Speaker 1: for your support to the show so we can highlight

1771
01:29:20,280 --> 01:29:22,639
Speaker 1: stories like this one, and in general, live show tickets

1772
01:29:23,000 --> 01:29:24,920
Speaker 1: don't go ahead and buy them if you haven't already,

1773
01:29:25,000 --> 01:29:27,280
Speaker 1: and get the last couple there, but otherwise, we've got

1774
01:29:27,280 --> 01:29:29,559
Speaker 1: great content for you guys all over the weekend. We're

1775
01:29:29,600 --> 01:29:31,760
Speaker 1: back here on Monday for an amazing show and we

1776
01:29:31,840 --> 01:29:33,439
Speaker 1: love you all, love y'all. See you Monday,