Latest / Yaron Brook Show / Mamdani's Supermarket; El-Sayed; FTC; Robots; Gaza; Hormuz; Profits; Achievement | Yaron Brook Show

Transcript

Mamdani's Supermarket; El-Sayed; FTC; Robots; Gaza; Hormuz; Profits; Achievement | Yaron Brook Show · Yaron Brook Show

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  Speaker 1: A little fundamental principles about readom my national self interest
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• 5:49
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  Speaker 1: The first news item today comes from Mamdani. So Mamdani
• 6:06
  Speaker 1: this week has elaborated on his plans to open up
• 6:10
  Speaker 1: city run supermarkets around New York City. And so now
• 6:18
  Speaker 1: we know a little bit more about what the plan is.
• 6:22
  Speaker 1: And you know, city run, city owned supermarkets is not
• 6:28
  Speaker 1: exactly right. So the city plans to own and control
• 6:33
  Speaker 1: the locations. The city will dictate prices and operating requirements,
• 6:40
  Speaker 1: and the city will absorb most of the financial risk involved.
• 6:44
  Speaker 1: But the city will hire private grossers to actually manage
• 6:49
  Speaker 1: the stores. So they will be managed by private And
• 6:53
  Speaker 1: what they're looking for right now is they're looking for
• 6:56
  Speaker 1: bids or actually what do you call it? Yeah, people
• 7:03
  Speaker 1: proposing how they would run a store, what they would do,
• 7:05
  Speaker 1: how much they would charge the city, and all of that.
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  Speaker 1: So they've released kind of a proposal, kind of their articulation,
• 7:15
  Speaker 1: their vision for what the stores would look like. They've
• 7:18
  Speaker 1: released out there. The idea is to have five stores. Ultimately,
• 7:22
  Speaker 1: they've only identified two locations. One will be at the
• 7:27
  Speaker 1: Peninsula in Hunt's Point. I don't know where that is,
• 7:29
  Speaker 1: but suppose that's a pretty low income area that scheduled
• 7:35
  Speaker 1: for late twenty twenty seven, so that's going to be
• 7:38
  Speaker 1: a year and a half if everything goes on plan,
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  Speaker 1: and then a second location will be in East Harlem
• 7:45
  Speaker 1: that is scheduled for twenty twenty nine. I mean, I
• 7:50
  Speaker 1: just find this funny because you know, all this fanfare
• 7:54
  Speaker 1: about opening grocery stores, and they're announcing now that they
• 7:56
  Speaker 1: can open up a store maybe in three years. I mean,
• 8:00
  Speaker 1: these are little grocery stores. This is not some major
• 8:03
  Speaker 1: construction project anyway. And then they haven't decided on three
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  Speaker 1: other other sites, so they're going to be five stores.
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  Speaker 1: The city's committing seventy million dollars in capital funding for
• 8:15
  Speaker 1: the construction and the build out, so I can't believe
• 8:19
  Speaker 1: that they're actually building a whole new building there. So
• 8:23
  Speaker 1: we're probably looking at at I don't know, buying a
• 8:30
  Speaker 1: building and renovating it to turn it into a grocery store.
• 8:34
  Speaker 1: But we will see. As I said, the stores are
• 8:37
  Speaker 1: going to be privately operated operated. The idea I think
• 8:41
  Speaker 1: is to have one operator for all five stores. Operators
• 8:46
  Speaker 1: will pay no rent and they will pay no property taxes,
• 8:52
  Speaker 1: so that'll give them, you know, that'll be an opportunity
• 8:54
  Speaker 1: to make a little bit of money, I guess, and
• 8:59
  Speaker 1: the city's going to pay for all the initial fit out.
• 9:01
  Speaker 1: So this city will will buy the place, will fit
• 9:05
  Speaker 1: it out, set it up as a grocery store, I guess,
• 9:07
  Speaker 1: in consultation with the private OAP operator. No sales tax,
• 9:11
  Speaker 1: no rent, but the city will dictate prices. Now here's
• 9:17
  Speaker 1: the kicker, right, there will be a cold basket of
• 9:20
  Speaker 1: goods prod juice, fresh meat, and seafood, plus selected milk, eggs, bread, rice, pasta, yogurt,
• 9:31
  Speaker 1: cooking oil, and similar products. I don't know what that means.
• 9:35
  Speaker 1: Similar products, but staples like things that you need in
• 9:39
  Speaker 1: order to cook a meal. They will all be those
• 9:44
  Speaker 1: goods to be identified by the city. Will be sold
• 9:48
  Speaker 1: at a thirty percent discount. Thirty percent discount. So let
• 9:58
  Speaker 1: me just see something. So thirty percent discount. Now here's
• 10:03
  Speaker 1: the thing. This, of course, we will be dictated by
• 10:07
  Speaker 1: the city that you have to sell it at a
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  Speaker 1: thirty percent discount. Now here's here's the here's the thing.
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  Speaker 1: This is not going to be achieved to thirty percent
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  Speaker 1: discount by some incredible efficiency. It's not going to be
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  Speaker 1: achieved by squeezing the operator's profit margins. What are the
• 10:30
  Speaker 1: profit margins and grocery stores two percent? Maybe right? The
• 10:35
  Speaker 1: average profit margin is about two percent, So you could
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  Speaker 1: get at two percent discount by squeezing their profit margin
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  Speaker 1: to zero. But thirty percent, where is that going to
• 10:50
  Speaker 1: come from? How are you going to get a thirty
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  Speaker 1: percent reduction in prices? And this is what makes this funny,
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  Speaker 1: if it wasn't so sad, what do you think is
• 11:02
  Speaker 1: going to happen. Well, it's going to be discounted from
• 11:05
  Speaker 1: market prices from what everybody else is selling them at.
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  Speaker 1: The discount is going to be market prices. So everything
• 11:12
  Speaker 1: else is going to sell at market price except for
• 11:14
  Speaker 1: these pre specified goods, which my guests will be expanded
• 11:18
  Speaker 1: and expanded and expanded in terms of which goods will
• 11:20
  Speaker 1: be at a discount, and they will sell thirty percent
• 11:24
  Speaker 1: from the market price. And the market price is easy
• 11:27
  Speaker 1: because there's plenty of competition out there, So New York
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  Speaker 1: products sell at pretty much the same price across the city,
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  Speaker 1: and the thirty percent discount will be achieved with what
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  Speaker 1: the operator is not going to take a loss. Why
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  Speaker 1: would anybody, any private operator, be willing to run a
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  Speaker 1: grocery store at a loss. So how are they going
• 11:46
  Speaker 1: to get a thirty percent discount? Well, the same way
• 11:50
  Speaker 1: government always does these things. It's going to be subsidized.
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  Speaker 1: So the government is basically going to pay the grosser
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  Speaker 1: the full price for the goods, and then the grosser
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  Speaker 1: basically is going to pay it out, going to sell
• 12:04
  Speaker 1: it out a thirty percent discount, So you, as the consumer,
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  Speaker 1: will be able to pay buy a thirty percent discount.
• 12:10
  Speaker 1: Right all the other so called non core products, We'll
• 12:15
  Speaker 1: see how big the core is when these things launch,
• 12:17
  Speaker 1: if they ever launched, will generally be sold in normal
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  Speaker 1: market prices. The discount is going to be universal. You
• 12:27
  Speaker 1: walk into the store, you buy the goods, it's yours now.
• 12:30
  Speaker 1: There was some question Mam Donny was asked at a
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  Speaker 1: press conference the other day about well, what about non
• 12:36
  Speaker 1: New Yorkers? What about somebody driving in from New Jersey
• 12:38
  Speaker 1: and buying stuff? And initially he said, we're going to
• 12:42
  Speaker 1: have a special ID, you know, a kind of a
• 12:45
  Speaker 1: library card, library card, anywhere, special ID that identifies you
• 12:50
  Speaker 1: as a New Yorker, and only New Yorkers we'll be
• 12:52
  Speaker 1: able to buy this. A huge backlash about this, right,
• 12:56
  Speaker 1: I mean, because I mean the left is very anti ID.
• 12:59
  Speaker 1: They won't They don't even want IDs for voting, never
• 13:02
  Speaker 1: mind for buying stuff in the supermarket. You're not going
• 13:05
  Speaker 1: to track what I buy. This is an invasion of
• 13:08
  Speaker 1: my privacy. So I'm then retracted. So now there's basically
• 13:14
  Speaker 1: anybody can go in and they can buy. The only
• 13:16
  Speaker 1: thing that will be monitored is you can't buy bulk
• 13:23
  Speaker 1: because there's an incredible arbitration here. I could go in,
• 13:26
  Speaker 1: they buy stuff at thirty percent discount, and then go
• 13:29
  Speaker 1: over to my bodega and sell it at a thirty
• 13:32
  Speaker 1: you know, normal market prices and make thirty percent. These
• 13:37
  Speaker 1: stores will not sell alcohol, tobacco, or nicotine products. Not
• 13:42
  Speaker 1: only won't these be cold products, but they won't sell
• 13:44
  Speaker 1: them at all. And they're also going to be expected
• 13:47
  Speaker 1: to limit quote unhealthy food promotion. They can sell unhealthy food,
• 13:54
  Speaker 1: they just can't advertise unhealthy food. How they're going to
• 13:57
  Speaker 1: make a profit not selling unhealthy food, I mean that's
• 14:01
  Speaker 1: what people buy. They won't be a butcher and a
• 14:05
  Speaker 1: deli counter, although they will be the sale of fresh
• 14:08
  Speaker 1: meat and seafood, So again not sure exactly how that works.
• 14:13
  Speaker 1: And oh and the other thing is in the RFP
• 14:16
  Speaker 1: there requests for proposals from private operators. They did mention
• 14:21
  Speaker 1: that operators of these stores are going to have to
• 14:23
  Speaker 1: offer best in class wages, best in class benefits, and
• 14:30
  Speaker 1: they are going to have to end to something called
• 14:31
  Speaker 1: the labor peace agreements. I don't even know want to
• 14:35
  Speaker 1: know what that is. I don't know what it is,
• 14:37
  Speaker 1: but you can only imagine what the labor peace agreement
• 14:42
  Speaker 1: actually involves, so something. Anyway, these grocery stores are going
• 14:47
  Speaker 1: to be very very very very very very very favorable
• 14:51
  Speaker 1: towards labor. So this is going to be this is
• 14:55
  Speaker 1: going to be expensive for the operator to run. But
• 14:59
  Speaker 1: don't worry. Do not worry. The city is going to
• 15:02
  Speaker 1: subsidize them. Now, given this, you know, the city could
• 15:09
  Speaker 1: just take the existing supermarkets out there and subsidize them,
• 15:14
  Speaker 1: give them the subsidy off of the basic goods, you know,
• 15:19
  Speaker 1: these core products, and just pay them for that and
• 15:22
  Speaker 1: have them sell a thirty percent discount. That would be possible,
• 15:27
  Speaker 1: but of course the city couldn't afford that. Here you're
• 15:30
  Speaker 1: taking a little store and it's not going to be
• 15:32
  Speaker 1: very big, and the volume is not going to be
• 15:34
  Speaker 1: that large, and there's still I don't know how they're
• 15:37
  Speaker 1: going to afford it, and the city doesn't quite know
• 15:38
  Speaker 1: how they're going to afford it. But if they did
• 15:44
  Speaker 1: it for every grocery store and every bodega and in
• 15:49
  Speaker 1: the in the five bubbos, it would bankrupt the city completely.
• 15:54
  Speaker 1: So you know, the government is going to provide these
• 15:58
  Speaker 1: stores what's called then an annual affordability payment. There will
• 16:03
  Speaker 1: cover operating deficits caused by the discount of basket, and
• 16:09
  Speaker 1: bidders are being asked to calculate how large that subsidy
• 16:12
  Speaker 1: it must be. So part of the competition is you know,
• 16:17
  Speaker 1: what what you estimate that will be, and what will
• 16:19
  Speaker 1: happen if they miss on the estimates. I mean, this
• 16:22
  Speaker 1: is so fart with fun, crazy socialist stuff. You know,
• 16:27
  Speaker 1: it's it's going to be it's going to be pretty amazing. Right,
• 16:31
  Speaker 1: So at the end of the day, what is this
• 16:34
  Speaker 1: at the end of the day, like really all government
• 16:37
  Speaker 1: programs that they you know, this is a massive redistribution
• 16:40
  Speaker 1: of wealth. So it is a massive redistribution of wealth
• 16:43
  Speaker 1: from taxpayers to the people who buy the core groceries
• 16:49
  Speaker 1: at these grocery stores. Right, so you know, people will
• 16:55
  Speaker 1: go to these grocery stores, maybe even people stand in
• 16:58
  Speaker 1: line to get that thirty percent discount. But you know
• 17:01
  Speaker 1: what will happen, what will happen, what's going to happen,
• 17:04
  Speaker 1: what's obviously going to happen. Right, they'll run out of
• 17:08
  Speaker 1: the court stuff very quickly. They'll have to continuously get
• 17:12
  Speaker 1: more course stuff because there'll be lions to get it.
• 17:14
  Speaker 1: Thirty percent is a lot. You'll get a lot of
• 17:17
  Speaker 1: low income people going there to buy it at thirty
• 17:20
  Speaker 1: percent discount. You'll just get a lot of people going
• 17:22
  Speaker 1: there who maybe not even low income, but just want
• 17:24
  Speaker 1: the saving. What the hell thirty percent discount? Some you know,
• 17:28
  Speaker 1: you'll stand in line, so you'll have to take a
• 17:30
  Speaker 1: lookount the cost of standing in line. But again, people
• 17:32
  Speaker 1: are quite willing to stand in line for a discount,
• 17:35
  Speaker 1: and they'll sell a lot of this stuff, and the
• 17:40
  Speaker 1: city will be massively redistributing wealth from taxpayers, people fund
• 17:44
  Speaker 1: the government. Two people who shop there, and then people
• 17:48
  Speaker 1: who shop there could be rich, they could be middle class,
• 17:51
  Speaker 1: and they could be poor. There's not going to be
• 17:53
  Speaker 1: This is not means tested, of course, not the people
• 17:57
  Speaker 1: who voted for Mamdani are not poor. Mamdani was not
• 18:01
  Speaker 1: elected by poor people. He was elected by middle class
• 18:04
  Speaker 1: and upper middle class professionals in Brooklyn. So they want
• 18:09
  Speaker 1: the discomt right. They cost up living is high, they
• 18:11
  Speaker 1: want the discount. They're stand in line too. Now the
• 18:17
  Speaker 1: city is claiming that this is going to save families
• 18:21
  Speaker 1: ninety dollars a month. Ninety dollars a month. Now, I
• 18:30
  Speaker 1: don't know what basis they estimate us. But again, you know,
• 18:34
  Speaker 1: if people stand in line and the store doesn't literally
• 18:38
  Speaker 1: run out but manages to resupply, although I don't see
• 18:41
  Speaker 1: how they can do that, then it might be a lot.
• 18:44
  Speaker 1: You know, it might be ninety dollars dollars months when
• 18:46
  Speaker 1: it might be on a lot more families than the
• 18:48
  Speaker 1: city's estimating. Now here's the thing. Five stores for the
• 18:54
  Speaker 1: city of New York. I mean, if you guys been
• 18:57
  Speaker 1: to New York, it's a big place. It's a little
• 19:00
  Speaker 1: it's a big place. Five stores. Do you know how
• 19:03
  Speaker 1: many grocery stores? You know? Tell me in the chat
• 19:06
  Speaker 1: how many grocery stores? How many grocery stores does New
• 19:10
  Speaker 1: York City have. I'm not talking about bodegas. I'll ask
• 19:14
  Speaker 1: you about bodegas in a minute. I'm talking about real
• 19:16
  Speaker 1: life grocery stores, you know, a small, medium size and
• 19:21
  Speaker 1: the big supermarkets. How many do they have in the
• 19:24
  Speaker 1: city of New York. Anybody want to guess the number
• 19:27
  Speaker 1: of grocery stores, and you can might as well guess
• 19:30
  Speaker 1: the number of bodegas. Butdiggas are these little I don't
• 19:33
  Speaker 1: know what you call them, little grocery stores. You know,
• 19:36
  Speaker 1: just with minimum stuff. We have a lot of bodegas,
• 19:39
  Speaker 1: the equivalent bodigas here in in Lisbon, Ian says eleven hundred.
• 19:43
  Speaker 1: He's cheating, he looked it up. Ian's right. There were
• 19:49
  Speaker 1: eleven hundred grocery stores in New York City. There are
• 19:52
  Speaker 1: ten thousand, ten thousand bodegas, and we're going to add five.
• 20:00
  Speaker 1: And this is gonna do what to go see prices
• 20:03
  Speaker 1: in New York City, I mean, some people will line up,
• 20:06
  Speaker 1: but the eleven hundred grocery stores are not going to
• 20:09
  Speaker 1: lower their prices because of that competition from five grocery stores.
• 20:13
  Speaker 1: I mean, that would be that would be ridiculous. And again,
• 20:16
  Speaker 1: the five groceries are going to run out of They're
• 20:19
  Speaker 1: gonna have shortages of the staple stuff, the core stuff,
• 20:23
  Speaker 1: the stuff that's a discount. Very very quickly. So the
• 20:28
  Speaker 1: people are gonna benefit from this. A're gonna be the
• 20:30
  Speaker 1: people who work and live around the five locations. Nobody's
• 20:36
  Speaker 1: gonna taxi in and and maybe they'll take public transportation in.
• 20:40
  Speaker 1: For that Ian doesn't get a price because you use
• 20:43
  Speaker 1: chat Gypt and that that that doesn't count. Only if
• 20:46
  Speaker 1: I use Chatgypt doesn't count. If you use churchy PDA
• 20:49
  Speaker 1: doesn't count. I mean, if you're working an area, walking
• 20:55
  Speaker 1: by the area, everybody gets it's it's not helping poor people,
• 20:58
  Speaker 1: it's helping whoever whoever happens to be willing to stand
• 21:01
  Speaker 1: in line to get the disco, including people from out
• 21:05
  Speaker 1: of state, including tourists. Right, So the stores promise deep discounts,
• 21:17
  Speaker 1: but they also acquire and usually generous compensation, high wages,
• 21:20
  Speaker 1: high benefits. They also, I guess in the RFP they're
• 21:27
  Speaker 1: also acquiring the grocery stores to source the groceries from
• 21:35
  Speaker 1: quote preferred, local and socially approved sources. I mean, this
• 21:41
  Speaker 1: just keeps getting better. They have to have healthy oriented merchandising,
• 21:49
  Speaker 1: and there's something about community programming and restrictions on profitable,
• 21:55
  Speaker 1: profitable product categories like junk food. So every one of
• 22:02
  Speaker 1: these things, raises the cost, makes it more expensive and
• 22:07
  Speaker 1: increases the need for a bigger and bigger and biggest
• 22:10
  Speaker 1: city subsidy. As we said, below market pricing is going
• 22:15
  Speaker 1: to generate excess demand. The RFPs, you know, anticipates demand management,
• 22:27
  Speaker 1: bulk purchase limits and a customer card. But okay, see
• 22:32
  Speaker 1: even with bulk purchase limits, you know, this is Soviet
• 22:38
  Speaker 1: style rationing. Are they going to decide how many eggs
• 22:42
  Speaker 1: you can get? Is buying two cottons? Is that bulk
• 22:48
  Speaker 1: is buying half a cotton? Okay, maybe they'll sell eggs
• 22:52
  Speaker 1: one at a time. I don't know. I mean, you're
• 22:56
  Speaker 1: going to run out of stuff a thirty percent discover
• 22:59
  Speaker 1: if meat is the liberty price of thirty percent below
• 23:02
  Speaker 1: a nearby store, that'll either run out or you know,
• 23:10
  Speaker 1: or they'll have to limit how many grams of meat
• 23:12
  Speaker 1: you buy. There's no other way to do it. Rationing,
• 23:16
  Speaker 1: rationing anyway, this is this is setting it up to
• 23:26
  Speaker 1: be a disaster. Now, there's plenty of experience doing this right.
• 23:31
  Speaker 1: There was a store in Baldwin, Florida, run by the municipality.
• 23:37
  Speaker 1: It closed in twenty twenty four because it couldn't break even.
• 23:40
  Speaker 1: Now Here at least the City of New York recognizes
• 23:43
  Speaker 1: it's not going to break even, and it's setting aside
• 23:46
  Speaker 1: money to subsidize it. It's just the subsidy is going
• 23:48
  Speaker 1: to grow bigger and bigger and begin bigger over time,
• 23:51
  Speaker 1: and at some point it won't be affordable. In Erie, Kansas,
• 23:55
  Speaker 1: there was a city run store that lost money and
• 23:58
  Speaker 1: eventually just leased it to a private operator. And Kansas
• 24:04
  Speaker 1: City's publicly backed Sunfresh closed in twenty twenty five after
• 24:09
  Speaker 1: extensive public investment, continued losses and operational problems. What is
• 24:14
  Speaker 1: it with Kansas City that they have so many govern
• 24:17
  Speaker 1: run stores. I wouldn't expect that to be Kansas. I'd
• 24:20
  Speaker 1: expect Bookley, but Kansas. So you know, there's some other experiments.
• 24:27
  Speaker 1: There's one in Atlanta, but unlikely unlikely that the one
• 24:35
  Speaker 1: in New York is going to work. So we will
• 24:41
  Speaker 1: see what happens. It's suckly where the money comes from,
• 24:46
  Speaker 1: you know, the seventy million to build it and then
• 24:48
  Speaker 1: everything else. And then of course there's these conflicts. I mean, mum,
• 24:53
  Speaker 1: Donnie says, no, no, we're not going to allow out of
• 24:55
  Speaker 1: town is to buy, and then he has to attract
• 24:57
  Speaker 1: it immediately. You can just imagine how kind of the
• 25:02
  Speaker 1: the leftist egalitarians, the anti show me an I d
• 25:08
  Speaker 1: uh uh. You know you're just gonna push mom Daney
• 25:13
  Speaker 1: further to the left. Those core set of products is
• 25:16
  Speaker 1: going to expand and expand and expand and expand over time. Uh,
• 25:20
  Speaker 1: and then they'll have problems just with the with the
• 25:23
  Speaker 1: actual with the actual inventory management. So yes, a complete
• 25:27
  Speaker 1: disaster socialist. Well, it's not a disaster yet, but it
• 25:32
  Speaker 1: You know, if you know anything about economics, supplying demand,
• 25:35
  Speaker 1: how economics works, Yes, government can subsidize. But when you
• 25:41
  Speaker 1: subsidize something, you get more of it as you get
• 25:44
  Speaker 1: more discounts, more people buying stuff, and it just grows
• 25:47
  Speaker 1: and grows, and the budget runs out, the budget runs dry. Luckily,
• 25:52
  Speaker 1: they're only starting with one then two stores. My guess
• 25:55
  Speaker 1: is by the time they reach two stores, they'll shut
• 25:58
  Speaker 1: they'll stop, and they won't open the third and fourth
• 26:01
  Speaker 1: and fifth floor because still because the city budget won't
• 26:05
  Speaker 1: be able to sustain it. Hopefully, also by then, since
• 26:09
  Speaker 1: we're talking about way in the future, mum Danny will
• 26:12
  Speaker 1: be out of office. That will be nice that Mumdanni
• 26:15
  Speaker 1: actually loses, all right, so that is that is our
• 26:23
  Speaker 1: you know, a socialist Muslim, uh, you know, economically ignorant,
• 26:30
  Speaker 1: ignorant mayor of New York. Let's shift to to you
• 26:36
  Speaker 1: guys's favorite, you know state, Michigan. We probably have more
• 26:40
  Speaker 1: listeners here for Michigan than any other state. Maybe I
• 26:43
  Speaker 1: don't know if that's true, but we have quite a
• 26:45
  Speaker 1: few active listeners from Michigan. UH. And the Democratic Party
• 26:51
  Speaker 1: in Michigan just nominated as this senate candidate abdill l
• 26:59
  Speaker 1: say ed. We talked about Abdulla in a previous show,
• 27:03
  Speaker 1: and at that time I was skeptical that he would win.
• 27:05
  Speaker 1: But he's one. He's won the Democratic primary, so he
• 27:08
  Speaker 1: will be running against Mike Rogers, a Republican and uh
• 27:15
  Speaker 1: al say doctor doctor Abdul say, he's a he's a
• 27:19
  Speaker 1: pH d uh in public health. I guess h is
• 27:24
  Speaker 1: uh is? You know he says he's not a socialist
• 27:29
  Speaker 1: because he's a Muslim first, and he can't be a
• 27:31
  Speaker 1: Muslim and a socialist, I guess. But he's he's a
• 27:34
  Speaker 1: progressive Medicare for all socialist. He is a you know,
• 27:39
  Speaker 1: a real hater of Israel and UH and everything affiliate
• 27:44
  Speaker 1: with Israel. He is a friend and associate and and
• 27:47
  Speaker 1: incredibly friendly with what's his name, Pika uh and we
• 27:55
  Speaker 1: all know, you know, we've covered Pika. Piker is a
• 27:59
  Speaker 1: a communist, a defender of Mauzeitung, A somebody who thinks
• 28:05
  Speaker 1: the Soviet unions collapses a tragedy, you know, as he
• 28:10
  Speaker 1: sits in his three thousand dollars suits and wears who
• 28:13
  Speaker 1: knows how many thousand dollars watch. Piker is a real communist.
• 28:19
  Speaker 1: Pikers also hate of America. Is an anti American, you know,
• 28:24
  Speaker 1: farrow out, freaky leftist. I think the Democrats have just
• 28:29
  Speaker 1: shot themselves in the knee. I think this might be
• 28:33
  Speaker 1: how they don't win the Senate. They really had an opportunity.
• 28:37
  Speaker 1: I think this year, because of how unpopular Republicans are
• 28:40
  Speaker 1: because of Trump, to win the Senate. But I think
• 28:43
  Speaker 1: even as much as Michiganians, Michigonians, Michigans, Michiganians, Michigans, even
• 28:51
  Speaker 1: as much as michigan Is hate Trump, I think they're
• 28:54
  Speaker 1: going to vote for a Republican over Elsie. Yeah. I
• 28:57
  Speaker 1: find it hard to believe that Michigan, which is a
• 29:01
  Speaker 1: you know, it went for Trump. I think the last
• 29:03
  Speaker 1: election it's a. It's a it's a state that could
• 29:05
  Speaker 1: go either way, it could go democratic. Republican would probably
• 29:09
  Speaker 1: elect a moderate Democrat for the Senate if there was
• 29:14
  Speaker 1: such a moderate Democrat running. But given that Elsa Yead
• 29:17
  Speaker 1: is running a man who is not moderate at all,
• 29:23
  Speaker 1: you know, I don't see I don't see how how
• 29:28
  Speaker 1: Michigan is going to vote for him. I think Mike
• 29:29
  Speaker 1: Rogers will probably be the Senator from Michigan. He's a Republican.
• 29:33
  Speaker 1: He was a house he was a member of the
• 29:35
  Speaker 1: House of Representative for many many years. Also, yeah, beat
• 29:39
  Speaker 1: a ah. You know, an establishment backed APAC, so the Israeli,
• 29:45
  Speaker 1: the pro is Well, uh super, the pros Well lobby
• 29:50
  Speaker 1: group backed you know, use Representative Hailey Stevens and uh,
• 29:58
  Speaker 1: but she lost. She lost. But if the margin was
• 30:02
  Speaker 1: very small, Holes was suggesting Al Sayyad would win by
• 30:07
  Speaker 1: a big margin. So one positive you can take out
• 30:10
  Speaker 1: of this is you won by a very small margin,
• 30:13
  Speaker 1: which suggests that Democrats are not super excited about him.
• 30:17
  Speaker 1: And I don't see how we can win in Michigan
• 30:20
  Speaker 1: in a general election if Democrats are not super excited
• 30:23
  Speaker 1: about him, Because I think the anti El Sayad anti
• 30:28
  Speaker 1: sad movement will be significant. I think Republicans will be
• 30:33
  Speaker 1: very motivated to vote against him, even if they even
• 30:36
  Speaker 1: if an independence I think will vote against him, even
• 30:39
  Speaker 1: as they hate on Trump. You know, if Michigan goes
• 30:43
  Speaker 1: to al Sayad, I don't know that that'll be that'll
• 30:46
  Speaker 1: be quite a negative indication of the direction the country's
• 30:51
  Speaker 1: heading in, as if we need another negative indication of
• 30:54
  Speaker 1: where the country's heading in now. Was outspent something like
• 31:03
  Speaker 1: eight to one by his opponent, So it wasn't about money.
• 31:09
  Speaker 1: This is about young people in Michigan voting for him.
• 31:13
  Speaker 1: So Michigan has a lot of universities, there's a lot
• 31:15
  Speaker 1: of young people, and they vote for al Sayad. And
• 31:19
  Speaker 1: this is about the Arab American community in dearborn in
• 31:24
  Speaker 1: in Michigan. Generally there's a large Arab American community in Michigan,
• 31:29
  Speaker 1: and they were very enthusiastic. And of course there's always
• 31:33
  Speaker 1: been a kind of a progressive Bernice Sanders portion of
• 31:40
  Speaker 1: the Republican Democratic Party in Michigan. So they so he
• 31:44
  Speaker 1: got the grassroots far left, he got young, he got
• 31:49
  Speaker 1: got college students and there were a lot of those
• 31:50
  Speaker 1: in Michigan, and he got the Arab community, which is
• 31:53
  Speaker 1: the largest it's the largest Arab community in the country
• 31:56
  Speaker 1: is in Michigan. But really, I mean in a general election,
• 32:03
  Speaker 1: I find it hard to believe they can win. But
• 32:06
  Speaker 1: who knows. I guess it is it is, it is
• 32:09
  Speaker 1: possible on every major issue. This guy is to the
• 32:16
  Speaker 1: left of AOC and a bigger hater than AOC. He
• 32:23
  Speaker 1: got support from Rashida Talb and of course from Minnesota,
• 32:30
  Speaker 1: a congresswoman from Minnesota who is way to the left,
• 32:33
  Speaker 1: and from Bernie Sanders. And I think for the Democrats
• 32:41
  Speaker 1: it means they probably won't win the Senate, which I
• 32:45
  Speaker 1: think is a good thing. I guess divide more divided government.
• 32:48
  Speaker 1: If they win the House, they can stop Trump, they
• 32:51
  Speaker 1: can impeach Trump, they can't actually replace Trump with Vance.
• 32:55
  Speaker 1: Maybe that's a good idea because they won't have the Senate,
• 32:57
  Speaker 1: but they won't be able to advance a lot of
• 33:00
  Speaker 1: the ideology without the Senate. I don't know. I mean,
• 33:05
  Speaker 1: there's there's something in me that says, yeah, it would
• 33:07
  Speaker 1: be good if the Democrats actually won the Senate, because
• 33:09
  Speaker 1: if they won the Senate, then Trump would have to
• 33:13
  Speaker 1: get has to get a Senate approval for his appointments, like,
• 33:18
  Speaker 1: you know, he just appointment then you appointed the new
• 33:22
  Speaker 1: toy general and he appointed somebody terrible. So it would
• 33:27
  Speaker 1: be good if he had to deal with Democrats in that,
• 33:30
  Speaker 1: but Democrats just shot themselves in the kneecap. So this
• 33:33
  Speaker 1: is going to make it impossible for them to win
• 33:37
  Speaker 1: the Senate because I don't think they can win Michigan.
• 33:40
  Speaker 1: I don't think they can win Michigan, and now I
• 33:42
  Speaker 1: hope they don't because he is so bad. He's like
• 33:45
  Speaker 1: off the charts bad. Yeah. So now the polls were
• 33:55
  Speaker 1: all wrong. The polls were all wrong, all predicted a
• 33:58
  Speaker 1: huge victory fell ill say god, and it was it
• 34:00
  Speaker 1: was like one percent. It was a very small margin
• 34:04
  Speaker 1: that he wanted. I don't know if there are any
• 34:06
  Speaker 1: Michiganians on on the Chat they can fill us in
• 34:09
  Speaker 1: on sentiments in Michigan right now. But yeah, I mean
• 34:12
  Speaker 1: I think some of the some of the Michiganians are
• 34:14
  Speaker 1: gonna have to vote for a Republican in spite of themselves,
• 34:18
  Speaker 1: just to just to prevent this guy from getting into
• 34:21
  Speaker 1: into the Senate. I'm not a fan of Rogers. Rogers
• 34:29
  Speaker 1: is a very very conservative, but a huge Trump follower
• 34:34
  Speaker 1: and a compromise and a sellout. I'm not a I'm
• 34:39
  Speaker 1: not a fan and it certainly not a free marketer,
• 34:41
  Speaker 1: so uh not a fan of his. Uh let's see, right,
• 34:50
  Speaker 1: that's all about the polling and yep, this is this
• 34:56
  Speaker 1: is uh a sun pika in the US Senate. That
• 35:00
  Speaker 1: would be an absolute unmitigated disaster, all right, talk about disasters.
• 35:09
  Speaker 1: The FTC, FTC, Federal Telecommunicators, a Federal Trade Commission, the
• 35:17
  Speaker 1: Federal Trade Commission. Interesting is the Federal Trade Commission. They
• 35:24
  Speaker 1: are putting out a public statement to get public comments
• 35:29
  Speaker 1: on a new ruling that they want to put out there.
• 35:32
  Speaker 1: A new ruling they will basically regulate the content of
• 35:37
  Speaker 1: artificial intelligence. Right, So this is what they're saying. The
• 35:44
  Speaker 1: FTC wants to hear from businesses and consumers about their
• 35:48
  Speaker 1: experiences and concerns regarding the subversion of AI systems for
• 35:53
  Speaker 1: ideological ends. This crucial input will help the Commission emulate
• 36:00
  Speaker 1: a finer policy that advance as President Donald Trump's goal
• 36:04
  Speaker 1: of expanding America's global dominance and artificial intelligence not really,
• 36:12
  Speaker 1: so what are they trying to do? They want to
• 36:17
  Speaker 1: regulate AI, so it's not biased it's not biased. So
• 36:26
  Speaker 1: they want to regulate AI. They want to make sure
• 36:29
  Speaker 1: that AI provides truthful outputs. They're not biased by any ideology. Now,
• 36:37
  Speaker 1: how are they going to do that? This is the
• 36:40
  Speaker 1: government basically explicitly, explicitly declaring that it is the arbiture
• 36:48
  Speaker 1: of truth. It is the arbitra of bias. That is
• 36:52
  Speaker 1: the arbiture of what AI should be able or not
• 36:57
  Speaker 1: be able to say to you. So, uh so, it's
• 37:07
  Speaker 1: clear violation. This is like, uh no, context violation of
• 37:12
  Speaker 1: the First Amendment. Right, this is a clear violation of
• 37:15
  Speaker 1: the issue of free speech. This is censorship power, excellons,
• 37:20
  Speaker 1: And it doesn't matter if it's a Republican a Democrat. Right,
• 37:23
  Speaker 1: this is censorship. But this is all you people who thought,
• 37:26
  Speaker 1: oh no, no, Trump is good at least on free speech. Yeah,
• 37:29
  Speaker 1: because Biden was really bad on free speech, which he was.
• 37:32
  Speaker 1: It was really bad on free speech, and Trump is
• 37:34
  Speaker 1: at least good in free speech. No, Trump is awful
• 37:38
  Speaker 1: on free speech. This is exactly an illustration of that.
• 37:41
  Speaker 1: What they want is to be able to say, oh no,
• 37:44
  Speaker 1: no anthropic you you you guys are a two leftist.
• 37:47
  Speaker 1: Your your answers on climate change a two leftist and
• 37:51
  Speaker 1: I guess Grock is okay on that. But of course
• 37:54
  Speaker 1: when a democratic administration comes in and they'll say, Grock,
• 37:57
  Speaker 1: you're bad on free on climate change and open air
• 38:00
  Speaker 1: in climate change, and they'll they'll force them to do what.
• 38:06
  Speaker 1: So this is a major violation fire the organization the
• 38:12
  Speaker 1: Defense Fee Speeches already filed comments about this to the
• 38:17
  Speaker 1: FTC arguing that they're in violation to the First Amendment.
• 38:21
  Speaker 1: I'm sure if this passes, there will be immediately a lawsuit,
• 38:25
  Speaker 1: and it will it will go at least to you know,
• 38:28
  Speaker 1: advance in the courts. I assume it to go to
• 38:30
  Speaker 1: the Supreme Court. I think this is a slim dunk
• 38:34
  Speaker 1: who knows right, But I think it really is a
• 38:36
  Speaker 1: slam dunk case in terms of the government determining what
• 38:40
  Speaker 1: is truth. Now we'll see what the ruling actually is
• 38:47
  Speaker 1: in the end. Right right now they're asking for public comments.
• 38:50
  Speaker 1: We'll see what they rule ultimately. But this is a
• 38:54
  Speaker 1: huge red flag, a major major issue and problem for
• 39:00
  Speaker 1: us to follow and fight against. You know, I can't
• 39:06
  Speaker 1: understand wanting to regulate AI on the issue of safety,
• 39:10
  Speaker 1: on the issue of not allowing it to be used
• 39:13
  Speaker 1: to hack into secure servers, not allowing it to be
• 39:18
  Speaker 1: used for bad guys to build biological weapons or chemical
• 39:24
  Speaker 1: weapons or whatever. But for the government to regulate it
• 39:28
  Speaker 1: around what answers it gives you when you ask it
• 39:31
  Speaker 1: a question in terms of the actual content. That is
• 39:36
  Speaker 1: a straight out violation. And again it shows that the
• 39:40
  Speaker 1: right is just as antagonistic to free speech as the
• 39:43
  Speaker 1: left is. It is a complete and out of myth
• 39:47
  Speaker 1: that the right and the pro Trump people try to
• 39:51
  Speaker 1: spread that somehow Trump and this administration is pro free speech.
• 39:55
  Speaker 1: They are not. They would they would shut down speech
• 39:58
  Speaker 1: they don't like in a second. In a second, you know,
• 40:06
  Speaker 1: Fire has a lengthy commentary on this. Uh and uh
• 40:11
  Speaker 1: and and you know, really breaking it apart legal legal wise,
• 40:15
  Speaker 1: and how the aspect of this violates the right for
• 40:18
  Speaker 1: few speech is the right of the of the developer
• 40:21
  Speaker 1: of AI to express itself in any way there is
• 40:27
  Speaker 1: you know, they're going to be standards by which it
• 40:30
  Speaker 1: decides how to report what a report. It's going to
• 40:32
  Speaker 1: wait for example, media outlets differently than other media outlets.
• 40:37
  Speaker 1: All of that is just part of the nature of
• 40:39
  Speaker 1: AI and for the government. And I'll say no, somehow
• 40:42
  Speaker 1: you have to create some kind of un I mean,
• 40:44
  Speaker 1: there is no such thing as unbiased. What does that
• 40:46
  Speaker 1: even mean? Being unbiased is biased like being center is on.
• 40:53
  Speaker 1: But that's not what Trump pants. I mean. You imagine
• 40:57
  Speaker 1: if if the centre's position is very critical of Trump,
• 41:00
  Speaker 1: he will consider that a bias position. Right, so you know,
• 41:11
  Speaker 1: you know. Fire rights developers possess the First amen. We
• 41:16
  Speaker 1: write to pursue a wide range of objectives in creating
• 41:19
  Speaker 1: and calibrating the AI systems, including but not limited to,
• 41:23
  Speaker 1: factual accuracy, safety, privacy, legal compliance, civility, and protection against messieus.
• 41:31
  Speaker 1: Others may seek to provide users with a unique world view.
• 41:35
  Speaker 1: The First Amendment protect each of these pursuits and many more,
• 41:40
  Speaker 1: just as it protects publications with social, literary, artistic, political, religious, journalistic,
• 41:46
  Speaker 1: and scientific focuses as varied as the American populace. The
• 41:51
  Speaker 1: statements declaration that AI models uniformly dictate themselves dedicate themselves
• 41:57
  Speaker 1: like dedicate themselves to producing quote. The best output is
• 42:01
  Speaker 1: a presumption, not a trurism. The right to determine what
• 42:05
  Speaker 1: their best output may mean in any given context is
• 42:10
  Speaker 1: a decision. The First Amendment reserves to the developer or
• 42:16
  Speaker 1: for that matter, to the consumer, not the federal government.
• 42:20
  Speaker 1: And the statement's suggestion to the contrary is dangerously misguided.
• 42:25
  Speaker 1: That's an understatement of the year. Likewise, I go on
• 42:31
  Speaker 1: for the statement, consumers' expectations are neither uniform or fixed.
• 42:35
  Speaker 1: Different users choose different AI systems socisely because they prefer
• 42:39
  Speaker 1: different balances on competing objectives, just that different readers may
• 42:43
  Speaker 1: choose to subscribe to different news outlets. Again, the First
• 42:47
  Speaker 1: Amendment protects from government encroachment that freedom to choose where
• 42:52
  Speaker 1: to share and receive information. And the Commission has no.
• 42:56
  Speaker 2: Authority to recharacterize detected editorial decisions as deceptive based on
• 43:03
  Speaker 2: a declaration that AI uses monolithically desire to as the.
• 43:08
  Speaker 1: Statement suggests, feel that their values are being respected. The
• 43:15
  Speaker 1: Commission has no authority to define American values. Yeah, that
• 43:21
  Speaker 1: deserves applause. Absolutely, So, I mean this probably this AI thing.
• 43:30
  Speaker 1: I can't think of any threat to our liberties greater
• 43:34
  Speaker 1: than this right now. This is a direct assault on
• 43:37
  Speaker 1: free speech and should be fought. If you're in a
• 43:39
  Speaker 1: position to write to the Commission and express how much
• 43:47
  Speaker 1: you think this is wrong, you should do it. I
• 43:51
  Speaker 1: don't usually tell you to write your congressman, this is
• 43:54
  Speaker 1: something worth writing to. It goes on. By treating these
• 44:00
  Speaker 1: contested propositions as a baseline for assessing deception, the statement
• 44:05
  Speaker 1: risks forming the Commission's preferred conception of AI's development, deployment,
• 44:10
  Speaker 1: and utility into an enforceable legal standard. Whether an AS
• 44:15
  Speaker 1: system has improperly steered its outputs would then depend not
• 44:20
  Speaker 1: simply and whether the company made a false commercial representation
• 44:23
  Speaker 1: about the product or service. Rather, it would rest on
• 44:26
  Speaker 1: whether the Commission agrees with the developers' editorial and design
• 44:31
  Speaker 1: judgments how the system balances competing objectives and the outputs
• 44:35
  Speaker 1: of the system. The First Amendment does not permit such
• 44:41
  Speaker 1: a result. And we could go on and on. I mean,
• 44:45
  Speaker 1: they write the statement requires the Commission to police protected
• 44:48
  Speaker 1: editorial judgment. Again, editory judgment is protected under the First Amendment.
• 44:53
  Speaker 1: The statement requires the Commission to scrutinize the content of
• 44:57
  Speaker 1: AI generated expression. They have no authority over that, and
• 45:02
  Speaker 1: they have no standards by which to do it. You know,
• 45:06
  Speaker 1: the statement creates strong incentives to suppress protected expression. So yeah,
• 45:13
  Speaker 1: here's the conclusion. Section five has long prohibited deceptive commercial practices,
• 45:19
  Speaker 1: and the editorial judgments embodied in expressive tools like AI.
• 45:24
  Speaker 1: It's like not the edatory judgments embodying the expressive tools
• 45:27
  Speaker 1: like AI. The statement would depart from the tradition by
• 45:31
  Speaker 1: requiring the Commission to they valued where the AI generated
• 45:34
  Speaker 1: expression reflects the objectives the Commission believes users expect an
• 45:39
  Speaker 1: AI system to pursue. That's what the market does. Because
• 45:43
  Speaker 1: that inquiry is necessarily normative and necessarily reaches protected editorial discretion,
• 45:51
  Speaker 1: the Commission should decline to interpret Section five in a
• 45:55
  Speaker 1: manner that authorizes the regulation of lawful expression. See a
• 46:04
  Speaker 1: real disaster, All right, let's see we so, yeah, if
• 46:14
  Speaker 1: you can, if you have any ability to provide inputs
• 46:19
  Speaker 1: to the Commission on this, you know, you guys, you
• 46:23
  Speaker 1: should do it. You should absolutely, in my opinion, do it,
• 46:28
  Speaker 1: because you know, free speech is life or death. It's
• 46:33
  Speaker 1: life and death. I mean, I'm dinny, supermarkets they're going
• 46:37
  Speaker 1: to fail. We know exactly what will happen. I feel
• 46:39
  Speaker 1: sorry for you. If you live in the city of
• 46:40
  Speaker 1: New York. You can be subsidizing all the people who
• 46:43
  Speaker 1: go buy in these stores. But it's not life or death.
• 46:46
  Speaker 1: Even Ela Yah, even if he gets elected, the Senate.
• 46:49
  Speaker 1: Here's one in one hundred. It will be awful, horrible,
• 46:52
  Speaker 1: and the fact that Michigan voted for him a very
• 46:55
  Speaker 1: negative indication about the state of the country. Government regulating
• 47:00
  Speaker 1: speech of AI an unmitigated disaster and a fast acceleration
• 47:07
  Speaker 1: of authoritarianism in this country, much worse than any other
• 47:10
  Speaker 1: news story we're covering. All right, let's see where are
• 47:18
  Speaker 1: we were. Let's see if DC robots robots. So the
• 47:26
  Speaker 1: Trump administration, in its wisdom, of course everything it does
• 47:30
  Speaker 1: is in its wisdom is wise, has announced I guess
• 47:36
  Speaker 1: a few days ago, that it was banning advanced robotic
• 47:41
  Speaker 1: devices from entering the United States. Basically, this is an
• 47:47
  Speaker 1: attempt to ban Chinese robots because Chinese robots are potential spies.
• 47:55
  Speaker 1: They could spy on all of us. So basically, you know, China,
• 48:02
  Speaker 1: which probably has at least as of now, the most
• 48:06
  Speaker 1: advanced robotic robots in the world, we are going to
• 48:13
  Speaker 1: hamper ability to use robots by not being allowed anymore
• 48:19
  Speaker 1: to purchase Chinese robots, just like we can't purchase Chinese
• 48:23
  Speaker 1: electric cars, the best electric cars in the world and
• 48:27
  Speaker 1: the cheapest ones, which directly damages and hurts our quality
• 48:31
  Speaker 1: of life and standard living. We now will not be
• 48:33
  Speaker 1: able to buy Chinese robots. Now, it turns out that
• 48:37
  Speaker 1: the you know that the this executive order, I guess,
• 48:44
  Speaker 1: this ban on robots is not about just humanoids. Humanoids
• 48:51
  Speaker 1: are robots that look like humans two legs, two arms,
• 48:55
  Speaker 1: and a face. Now, this band's all robots. That includes,
• 48:58
  Speaker 1: by the way, the banning of next generation vacuum cleaners. Now,
• 49:04
  Speaker 1: if you own a rumba rumba rumba, yes, if you
• 49:09
  Speaker 1: own a rumba, you're okay. Existing rumbas have been deemed safe.
• 49:16
  Speaker 1: The Chinese, I guess, are not spying on you yet.
• 49:21
  Speaker 1: But the fear is that the new generation of rumbas,
• 49:24
  Speaker 1: the rumbas that are coming soon, those roombas, they're going
• 49:28
  Speaker 1: to be spying on you. And we know that's a
• 49:30
  Speaker 1: national security risk. I mean, I could understand if the
• 49:37
  Speaker 1: government said no roombas in the Defense Department, the White
• 49:41
  Speaker 1: House will not use rumbas because there's something to spy
• 49:45
  Speaker 1: over there. But what exactly is your rumba gonna send
• 49:48
  Speaker 1: the Chinese? The arguments you have with your wife, the
• 49:55
  Speaker 1: you know, before bedtime stories you tell your kids, what
• 50:02
  Speaker 1: you know? I don't know the groans and moans you
• 50:05
  Speaker 1: make during sex. What exactly is going to be other
• 50:10
  Speaker 1: Chinese is going to glean from all this incredibly valuable
• 50:13
  Speaker 1: information that is now posing a national security risk. Now again,
• 50:22
  Speaker 1: this includes all kinds of robots. The robots the stack
• 50:25
  Speaker 1: shelves at Amazon, those are going to be bought. You know,
• 50:31
  Speaker 1: I assume they buy them from China. I'm not sure
• 50:33
  Speaker 1: where else they would buy them from. And you know
• 50:40
  Speaker 1: lots of other lots of other types of robots that
• 50:46
  Speaker 1: exist in manufacturing in other places. So yes, this is
• 50:52
  Speaker 1: a pretty broad broad band. It covers almost any new
• 50:57
  Speaker 1: software controlled robot it travels over the ground if it
• 51:02
  Speaker 1: weighs more than for four point four pounds, including any docks.
• 51:07
  Speaker 1: So the roll but plus the dock have to weigh
• 51:10
  Speaker 1: less than four point four pounds, and which has some
• 51:14
  Speaker 1: perception of its environment and has wireless connectivity. So if you,
• 51:21
  Speaker 1: if you again, if you softer conjoled new softer Conjolt
• 51:27
  Speaker 1: travel over the ground, weigh with your dock more than
• 51:30
  Speaker 1: four point four pounds, you perceive your environment in some way, right,
• 51:35
  Speaker 1: have some senses about your environment, and have wireless connectivity,
• 51:39
  Speaker 1: you're out. So we don't want the Chinese to have
• 51:43
  Speaker 1: the layout of your home which the roomba could give them.
• 51:49
  Speaker 1: Is this a national security or is this to protect?
• 51:53
  Speaker 1: Is this Elon Musk trying to protect himself from competition
• 51:59
  Speaker 1: for human olde will bots. He's building a big factory
• 52:02
  Speaker 1: to produce a million humanoid robots a year or other
• 52:07
  Speaker 1: lots of other American robot companies, although some of them
• 52:11
  Speaker 1: the actual manufacturer in the American robots will be done
• 52:14
  Speaker 1: in in Korea and other places. I mean, the fact
• 52:18
  Speaker 1: there is Dycon dyce In the you know, the vacuum
• 52:22
  Speaker 1: cleaner and other kind of appliance manufacturer. Even dyce In
• 52:28
  Speaker 1: is manufacturing in China, so we can't buy dice in.
• 52:34
  Speaker 1: So soon we won't be able to buy robots. The
• 52:38
  Speaker 1: dice In producers and everything is going to be a
• 52:41
  Speaker 1: robots and so yeah, I mean, how many companies in
• 52:50
  Speaker 1: the world right now have any kind of market share
• 52:54
  Speaker 1: in anything that resembles a robot that is not made
• 53:00
  Speaker 1: in China. So again, we are consciously and perversely reducing
• 53:08
  Speaker 1: our quality of life and standard living because of some
• 53:13
  Speaker 1: bogus national security risk threat. I mean, could we not
• 53:20
  Speaker 1: scan these as they came into the country for whatever.
• 53:28
  Speaker 1: I mean, it's probably software based. Could we not scan
• 53:30
  Speaker 1: the software? Could we not put in precautions? Could they
• 53:33
  Speaker 1: nssay not find ways to protect us? Is it really
• 53:36
  Speaker 1: we have to ban all the cause and all the
• 53:39
  Speaker 1: robots or is it really just deploy to protect American
• 53:43
  Speaker 1: industry and thus to reduce your stand of living, in
• 53:45
  Speaker 1: your quality of life and reduce the purchasing power of
• 53:49
  Speaker 1: your dollars. I mean, is this really you know the issue? Right? Yeah?
• 54:13
  Speaker 1: I mean, I guess those robotic lawnmowers, the Chinese could
• 54:18
  Speaker 1: program them to run us over and kill us all,
• 54:22
  Speaker 1: so they'd be they programmed their lawnmowers to become killer robots.
• 54:28
  Speaker 1: That's the real danger. More goverment overreach, more insanity, more craziness,
• 54:40
  Speaker 1: more government intervention in our lives, more goverment controls. And
• 54:44
  Speaker 1: it's all going to be on national security grounds, so
• 54:48
  Speaker 1: you won't be able to argue against it. You will
• 54:50
  Speaker 1: have no basis to argue against it. They will shut
• 54:53
  Speaker 1: you down, right, So yeah, we'll see. You know, by
• 55:02
  Speaker 1: the way, a lot of the routers you're getting for
• 55:04
  Speaker 1: their Wi Fi made in China, so you can get those,
• 55:08
  Speaker 1: but you can't get the robot Hui. By the way,
• 55:16
  Speaker 1: China has said, okay, you want to do that, all right,
• 55:20
  Speaker 1: we're gonna We're gonna we're gonna retaliate. You know, you
• 55:26
  Speaker 1: better withdraw this. We're gonna come after banning a bunch
• 55:30
  Speaker 1: of stuff. So China's already announced, uh that its countermages
• 55:35
  Speaker 1: are going to be so basing a sanctioned seven American entities,
• 55:39
  Speaker 1: tightened expert controls and drones. So China said, you don't
• 55:42
  Speaker 1: want to buy a robots, fine, we won't tell you drones. Uh,
• 55:47
  Speaker 1: you know you're my d Your d g I drone
• 55:50
  Speaker 1: is out. And you know, uh, this is after again
• 55:58
  Speaker 1: Trump administration banned in of advanced robots and power converters
• 56:03
  Speaker 1: and blacklisted more than forty Chinese firms. So yeah, you know,
• 56:12
  Speaker 1: we're just going to get a tit for tat. We're
• 56:14
  Speaker 1: China now about what products are going to be hit,
• 56:17
  Speaker 1: what products are going to be restricted. All of this
• 56:20
  Speaker 1: just all it does is just lowers our standard living,
• 56:26
  Speaker 1: lowers the availability of the best products in the world
• 56:30
  Speaker 1: to us as Americans, and the government decides what it's
• 56:34
  Speaker 1: okay for us to use and what it's an autoquy
• 56:36
  Speaker 1: for us to use. All Right, we're about let's see,
• 56:44
  Speaker 1: we just hit the first hour. We're about forty two
• 56:48
  Speaker 1: dollars short of the first hour goal. So ask questions,
• 56:52
  Speaker 1: particularly twenty dollars questions to twenty dollars questions, and we're
• 56:55
  Speaker 1: done with that. You know, also, do a sticker is
• 57:00
  Speaker 1: a great No questions, just value for value, just paying
• 57:05
  Speaker 1: for the value that you're receiving by listening to the show.
• 57:10
  Speaker 1: All right, let's see, yesterday, I think it was yesterday
• 57:16
  Speaker 1: Trump announced a new Gaza deal. Right, there's being a
• 57:20
  Speaker 1: Gaza deal in place, and part of the existing Gaza
• 57:23
  Speaker 1: deal says that Hamas must you don't give up all
• 57:30
  Speaker 1: its weapons. It must disarm immediately, and at once Hamas
• 57:35
  Speaker 1: is disarmed and a international some kind of international peacekeeping
• 57:40
  Speaker 1: force enters Gaza, is your will withdraw from Gaza. Well,
• 57:46
  Speaker 1: yesterday Trump cut a new best, greatest, greatest deal ever
• 57:51
  Speaker 1: in all of human history. That only Trump could cut
• 57:54
  Speaker 1: a new deal for Gaza. Where supposed the Hamas has
• 57:59
  Speaker 1: agreed to disarm once Israel leaves Gaza. So now the
• 58:06
  Speaker 1: order has flipped. Israel first leaves Gaza, and then Hamas disarms.
• 58:12
  Speaker 1: Now what does this army mean. In the past from
• 58:15
  Speaker 1: as has said, we'll give up our you know, big
• 58:18
  Speaker 1: guns will give up, you know, bombs will give up.
• 58:22
  Speaker 1: I don't know, missiles whatever they forgot left, r pgs,
• 58:25
  Speaker 1: I don't know what they have. And you know, we'll
• 58:31
  Speaker 1: keep our small arms, which allows them to keep control
• 58:34
  Speaker 1: of the population in Gaza. It is of course reject
• 58:37
  Speaker 1: said no, disarmament means disarmament. Trump is vague about what
• 58:42
  Speaker 1: it actually means. It's not clear right what it means.
• 58:47
  Speaker 1: So they it's disarmament without specification. And the expectation is
• 58:53
  Speaker 1: that Trump has now is that Israel would draw from
• 58:57
  Speaker 1: Gaza and then this disarm it happens somehow, and there's
• 59:01
  Speaker 1: a lot of pressure now being placed on Israel to
• 59:04
  Speaker 1: do that. And it's agnew has come out today and said,
• 59:07
  Speaker 1: no way, we're not gonna disarm. We will leave. We're
• 59:12
  Speaker 1: not gonna leave Gaza. Will leave Gaza once, you know,
• 59:16
  Speaker 1: Hamasa's disarmed. Was sticking to the original piece, you know,
• 59:21
  Speaker 1: ceasefire agreement. As I said that Israel does not approve
• 59:25
  Speaker 1: of the US plan. It's like Trump goes and negotiates
• 59:31
  Speaker 1: with Israel's enemies and that expects Israel to just go
• 59:34
  Speaker 1: along with whatever he proposes. I've always said that this
• 59:42
  Speaker 1: relationship with Trump will not end well for Israel, and
• 59:46
  Speaker 1: it certainly doesn't seem like it's going to end well
• 59:50
  Speaker 1: for Israel. So Hamas still holds weapons. There is no
• 59:56
  Speaker 1: international force that wants to go in. Of course, this
• 59:59
  Speaker 1: deal is needg siated by Tuki and Kata to enemies
• 1:00:03
  Speaker 1: of Israel and Egypt questionably what their relationship with Israel is.
• 1:00:08
  Speaker 1: They have a peace deal, but they don't act particularly
• 1:00:12
  Speaker 1: peacefully towards Israel. So you got Tooki, and and and
• 1:00:16
  Speaker 1: Kata are the two entities that have negotiated this together
• 1:00:19
  Speaker 1: with Egypt. And yeah, it's a pro Hamas deal and
• 1:00:23
  Speaker 1: one Israel has rejected and I hope, I hope and
• 1:00:26
  Speaker 1: expect will continue to reject. All right, Trump, he's not
• 1:00:32
  Speaker 1: a role with peace deals. So he announced again that
• 1:00:37
  Speaker 1: that it looks like an agreement with you on is
• 1:00:39
  Speaker 1: going to be reached about opening the States of Homos
• 1:00:42
  Speaker 1: any day now, I mean maybe tomorrow or even today,
• 1:00:46
  Speaker 1: it'll be there'll be a deal. There'll be a deal.
• 1:00:49
  Speaker 1: And he did say if there's no deal, I mean,
• 1:00:53
  Speaker 1: I don't know if I have the exact terminology, but
• 1:00:58
  Speaker 1: he did say there was no old deal, then they
• 1:01:02
  Speaker 1: would decapitate, Yeah, decapitate the Iranian regime. And the Iranians
• 1:01:09
  Speaker 1: are very scared because every other time Trump has threatened them,
• 1:01:12
  Speaker 1: He's lived up to the threat, right, I mean he
• 1:01:15
  Speaker 1: people are just shivering in their boots from Trump. They're really, really,
• 1:01:19
  Speaker 1: really afraid of Trump. So, yes, there's going to be
• 1:01:27
  Speaker 1: a deal. And it turns out that there is probably
• 1:01:30
  Speaker 1: going to be a deal that Iran and Oman, not
• 1:01:34
  Speaker 1: Iran in the United States, Iran on Oman, the two
• 1:01:37
  Speaker 1: countries that sit on the two sides of the Straits
• 1:01:39
  Speaker 1: of Homos, the Straight of almost unegotiating a deal. And
• 1:01:45
  Speaker 1: the reality is that this deal is almost for sure.
• 1:01:51
  Speaker 1: I'm going to guarantee that the Iranians control the Straight. Supposedly,
• 1:01:58
  Speaker 1: the deal is such that the Iran will control all
• 1:02:01
  Speaker 1: ships entering the strait, and though Monis will control ships
• 1:02:05
  Speaker 1: exiting the strait. Both parties will be able to charge
• 1:02:11
  Speaker 1: a quote service fee for this, and they'll be a
• 1:02:15
  Speaker 1: revenue split between Iran and Iman. Iran gets the inbound
• 1:02:18
  Speaker 1: and Oman gets the outbound. Now, this is not just
• 1:02:22
  Speaker 1: goes against maritime law that has existed basically since World
• 1:02:26
  Speaker 1: War Two and against the idea that ships should be
• 1:02:31
  Speaker 1: able to traverse these straits, this strait and the streets
• 1:02:34
  Speaker 1: of Malaka on other straits freely. It basically gives Iran
• 1:02:41
  Speaker 1: control it didn't have before the war started. So it
• 1:02:44
  Speaker 1: gives it a victory over the United States, which will
• 1:02:47
  Speaker 1: be recognized by the United States. And you know, though
• 1:02:53
  Speaker 1: Manis have no military, they have no ability to enforce this.
• 1:02:58
  Speaker 1: So the enforcement of this will completely one hundred percent
• 1:03:01
  Speaker 1: depend on the Iranians. They have the missiles, they have
• 1:03:03
  Speaker 1: the boats, they have their the mines. They can actually
• 1:03:07
  Speaker 1: block the straits the Omanis can, so they'll throw the
• 1:03:12
  Speaker 1: Amani's a bone. Uh. But this is a complete capitulation
• 1:03:17
  Speaker 1: by the United States. Right at every step, Trump surrenders more,
• 1:03:24
  Speaker 1: not less, to the Ranians, surrenders more. Right now, your
• 1:03:32
  Speaker 1: Central Command keeps saying that the southern route, the route
• 1:03:36
  Speaker 1: that hugs the Money Coast, is open and remains free
• 1:03:41
  Speaker 1: and open for all commercial vessels seeking to transit. You know,
• 1:03:46
  Speaker 1: the military also claimed that US forces have assisted more
• 1:03:49
  Speaker 1: than a thousand vessels in safely transitting the strait over
• 1:03:54
  Speaker 1: the past three months now. I don't know if to
• 1:03:56
  Speaker 1: believe that number. It's coming out of the military, so
• 1:03:59
  Speaker 1: maybe it's true, it's not coming out of Trump's mouth,
• 1:04:02
  Speaker 1: But I don't think the numbers suggest that the Strait
• 1:04:07
  Speaker 1: is open, right. The strait open means one hundred and
• 1:04:09
  Speaker 1: thirty ships a day. That means over a thousand ships
• 1:04:13
  Speaker 1: every ten days. That's not happening. Not happening, right, So
• 1:04:23
  Speaker 1: who knows what this deal is going to be. Who
• 1:04:26
  Speaker 1: knows what Trump is going to argue, you know, I
• 1:04:33
  Speaker 1: you know, it's impossible to say. Now. Media stories are
• 1:04:38
  Speaker 1: claiming that the reason that Trump is right now so
• 1:04:41
  Speaker 1: we go for a deal, you know, canceled the attacks
• 1:04:45
  Speaker 1: the other day, stop attacking you on you know, in
• 1:04:50
  Speaker 1: the last few days, is because the US is basically
• 1:04:53
  Speaker 1: run out of missiles, both long range offensive missiles tomahawks
• 1:05:00
  Speaker 1: and atcams, as well as precisions strike missiles. But also
• 1:05:04
  Speaker 1: of course patriots and THAD defense systems. We've talked about
• 1:05:09
  Speaker 1: this many times now. The Pentagon is benign. This the
• 1:05:15
  Speaker 1: chief Pentagon spokesman said today, or said, yeah, I think
• 1:05:18
  Speaker 1: today American military is the most powerful in the world
• 1:05:21
  Speaker 1: and has everything it needs to execute at the time
• 1:05:23
  Speaker 1: and place of the President's choosing. We have executed multiple
• 1:05:26
  Speaker 1: successful operation across combat commands while ensuring the US military
• 1:05:31
  Speaker 1: possesses the deep arsenal capabilities to protect people in our interests.
• 1:05:36
  Speaker 1: Secretary Hegseth War Secretary I guess quote that has manufactured
• 1:05:43
  Speaker 1: story that the media wants to paddle and ultimately, our
• 1:05:46
  Speaker 1: stock piles are great and they're only getting stronger. Now
• 1:05:51
  Speaker 1: Hexith might just be learning from their master liar himself,
• 1:05:55
  Speaker 1: Donald Trump, how to lie about these things, which is
• 1:05:58
  Speaker 1: but it's hard to tell, so we don't have direct
• 1:06:00
  Speaker 1: info about stockpiles. But again, every story that comes out
• 1:06:05
  Speaker 1: is suggesting that they're that they're low and just understanding
• 1:06:09
  Speaker 1: the military supply chain, who makes these missiles, how difficult
• 1:06:13
  Speaker 1: it is for them to make them, how you know,
• 1:06:16
  Speaker 1: how fragmented the industry is and how politicized the whole
• 1:06:20
  Speaker 1: production is. The more realistic it seems that this is
• 1:06:23
  Speaker 1: actually true, that this is that there is a missile. Uh,
• 1:06:28
  Speaker 1: you know, strange, Yeah, I mean, here's what it means
• 1:06:33
  Speaker 1: for the States to reopen. The US is now director
• 1:06:35
  Speaker 1: forty five commercial vessels heading in and out of the
• 1:06:38
  Speaker 1: Uranian port since the bacade restarted last month, so forty
• 1:06:43
  Speaker 1: five in a month, that's what a ship and a
• 1:06:48
  Speaker 1: half a day instead, that's ten percent of the normal traffic.
• 1:06:56
  Speaker 1: You know. For the for Central Command to claim that
• 1:06:59
  Speaker 1: the state of home is open, it's just a bull
• 1:07:02
  Speaker 1: face lie, just a bull face line. So we will
• 1:07:07
  Speaker 1: see what happens with this deal between between Iran and Oman.
• 1:07:13
  Speaker 1: We see how what world of the United States has
• 1:07:17
  Speaker 1: in it and what agreement actually happens. But again, right now,
• 1:07:21
  Speaker 1: by all estimates, there will be two roots, one in
• 1:07:24
  Speaker 1: one out, one controlled by Iran, one control by Oman
• 1:07:28
  Speaker 1: UH and all fee charges, which if you remember one
• 1:07:33
  Speaker 1: of Trump's conditions for a deal with Youran, there's no
• 1:07:36
  Speaker 1: fees on the streets and foremos. But that has gone
• 1:07:38
  Speaker 1: out the window. He's given up on that one. It
• 1:07:42
  Speaker 1: looks like right right, malcol Rubio recently said, if we
• 1:07:50
  Speaker 1: create a president in the Middle East where a nation
• 1:07:52
  Speaker 1: can decide that they're going to control an international waterway,
• 1:07:55
  Speaker 1: charge a toll and if you don't pay them, blow
• 1:07:58
  Speaker 1: up your ships, we created a very dangerous precedent that
• 1:08:02
  Speaker 1: will repeat itself in other parts of the world. Absolutely,
• 1:08:06
  Speaker 1: but it doesn't look like Marco Rubio has much say
• 1:08:12
  Speaker 1: in the decision making. It looks like it's basically Trump
• 1:08:15
  Speaker 1: and Vance who making the decision about this. By the way,
• 1:08:19
  Speaker 1: in the meantimes, the hutis attacking Saudi Arabian ships and
• 1:08:25
  Speaker 1: so on. Now there is a positive out of all this.
• 1:08:28
  Speaker 1: I guess you could argue that, as we've talked about
• 1:08:32
  Speaker 1: in the past, Middle East countries are figuring out ways
• 1:08:35
  Speaker 1: to get around the Strait of Homoes. So, for example,
• 1:08:39
  Speaker 1: Rock and Turkey. I've just done a deal for a
• 1:08:42
  Speaker 1: one year oil pipeline deal to boost exports. So I
• 1:08:48
  Speaker 1: Raq will export oils north into Turkey, north west into
• 1:08:53
  Speaker 1: Turkey and that's out through Turkish ports, and that bypassed
• 1:08:58
  Speaker 1: the Strait of Homoes. That allow for a lot more
• 1:09:01
  Speaker 1: oil to flow out of Iraq. We know that the
• 1:09:04
  Speaker 1: Saudis have gone west to a port they have on
• 1:09:07
  Speaker 1: the Red Sea. That's what the Hoodies is trying to disrupt.
• 1:09:10
  Speaker 1: We know the Eoe is pushing oil down south towards
• 1:09:15
  Speaker 1: the port that they have on the Gulf of Oman,
• 1:09:17
  Speaker 1: which again bypasses the Strait of Homos. So the world
• 1:09:21
  Speaker 1: is finding ways to survive without the Strait of Homos.
• 1:09:25
  Speaker 1: But given the hoodies are trying to block the Red Sea,
• 1:09:28
  Speaker 1: and given that there are limited solutions out there, these
• 1:09:33
  Speaker 1: are not You're not going to solve all your problems,
• 1:09:35
  Speaker 1: and you're certainly not going to solve them all anytime soon.
• 1:09:41
  Speaker 1: Iran still has the world economy, if you will, and
• 1:09:45
  Speaker 1: the Trump administration by the balls and is negotiating from
• 1:09:49
  Speaker 1: that standpoint, from a position of strength, not of weakness.
• 1:09:52
  Speaker 1: Even though they are weak militarily, they are weak politically.
• 1:09:56
  Speaker 1: The United States refuses to take advantage of that, refuses
• 1:09:59
  Speaker 1: to explicit sly try to topple this regime. That is
• 1:10:03
  Speaker 1: the only thing we'll change this war. It's the only
• 1:10:06
  Speaker 1: way to win this war. Explicitly target the regime for toppling.
• 1:10:11
  Speaker 1: Top all All right, all of you who still somehow
• 1:10:20
  Speaker 1: a delusional enough to believe that Trump is pro markets,
• 1:10:24
  Speaker 1: pro capitalism, Well, today or yesterday he started criticizing all
• 1:10:30
  Speaker 1: companies from making too much money, too much money from
• 1:10:35
  Speaker 1: the global energy market. You know, Brett Cruter has been
• 1:10:40
  Speaker 1: trading at about seventy dollars. It was trading seventy dollars
• 1:10:47
  Speaker 1: before the US Israeli strikes at the end of February.
• 1:10:52
  Speaker 1: But the end of April, it had sort up as
• 1:10:54
  Speaker 1: high as one twenty six now is trading at eighty five.
• 1:10:58
  Speaker 1: And of course or companies of raised prices because demand
• 1:11:04
  Speaker 1: as high as supply is limited c us so Trump
• 1:11:10
  Speaker 1: took aim at quote win for profits. Remember win for profits.
• 1:11:15
  Speaker 1: Democrats talk about wind full process all the time. Well,
• 1:11:19
  Speaker 1: now Republicans do as well. In particular, Trump took aim
• 1:11:25
  Speaker 1: at profits revealed by Excellent Mobile and Chefron in their
• 1:11:31
  Speaker 1: accounting statements last week. So yeah, Trump said, X Chevron
• 1:11:42
  Speaker 1: too much money, Excellent Mobile, too much money. They're going
• 1:11:46
  Speaker 1: to give some of that back to the public, and
• 1:11:49
  Speaker 1: they better cut the retail price, the consumer price. They
• 1:11:53
  Speaker 1: don't control the retail prices. The consumer price that's determined
• 1:11:58
  Speaker 1: by refineries, which again restricted supply. Wise VP, the British
• 1:12:07
  Speaker 1: Petroleum Chief executive said, quote, the reality is we produce
• 1:12:12
  Speaker 1: a global commodity and the product we sell hangs off
• 1:12:17
  Speaker 1: that global commodity price. Trump accusing all companies of windfow profits.
• 1:12:26
  Speaker 1: It's kind of rich. All right, Let's see where we
• 1:12:36
  Speaker 1: were we where we are we doing. We're doing about
• 1:12:41
  Speaker 1: seventeen dollars short of that first hour goal. Seventeen dollars.
• 1:12:46
  Speaker 1: So if you could step in and make up that shortfall,
• 1:12:49
  Speaker 1: that would be amazing, truly amazing, and we could go
• 1:12:55
  Speaker 1: on from there. Stickers season in season all right, a
• 1:13:04
  Speaker 1: few positive stories. This was a fun story. So a
• 1:13:09
  Speaker 1: company called you know, Joby uh Joby Aviation. Joby Aviation
• 1:13:16
  Speaker 1: is basically building uh flying taxis, flying taxis. So these
• 1:13:21
  Speaker 1: are kind of the little helicopters. They look like big
• 1:13:24
  Speaker 1: drones that you'll be able to take from spot to
• 1:13:27
  Speaker 1: spot in cities and be able to commute using these helicopters.
• 1:13:33
  Speaker 1: I assume these will be developed into bigger and bigger
• 1:13:36
  Speaker 1: in terms of holding more people, and there'll be many
• 1:13:38
  Speaker 1: of them, and but but a lot of them will
• 1:13:41
  Speaker 1: be more like an uber. They'll take you from point
• 1:13:44
  Speaker 1: to point. And part of the issue is how do
• 1:13:46
  Speaker 1: you create in a dense city, uh, you know, places
• 1:13:51
  Speaker 1: where these things in land and maybe you can transfer
• 1:13:54
  Speaker 1: from them to an uber or to a waimo to
• 1:13:57
  Speaker 1: take you to on the next leg of your trip. Anyway,
• 1:14:00
  Speaker 1: Joby Aviation, which basically makes the robo planes, these these
• 1:14:07
  Speaker 1: little helicopter things, has teamed up with an infrastructure company
• 1:14:12
  Speaker 1: called Atmas to basically build uh the infrastructure that is
• 1:14:18
  Speaker 1: going to make it possible to land these things. And
• 1:14:23
  Speaker 1: then it will also be like a pucking place where
• 1:14:27
  Speaker 1: you can be able to get get off the helicopter
• 1:14:30
  Speaker 1: and into an uber and and and drive off. So
• 1:14:35
  Speaker 1: I guess the federal government is already initiated some kind
• 1:14:40
  Speaker 1: of initiative to accelerate the introduction of electric u vertical
• 1:14:44
  Speaker 1: takeoff and landing aircraft into commercial service. Uh and uh,
• 1:14:49
  Speaker 1: now we need a landing zones, charging infrastructure, passenger facilities
• 1:14:55
  Speaker 1: transferred up to uber I guess or to Waimo or
• 1:14:58
  Speaker 1: whatever whatever it's going to be. So again, Joebi to
• 1:15:03
  Speaker 1: get it has these taxi technology Flying Taxis, Archer Aviation
• 1:15:09
  Speaker 1: Beta technology is all building flying taxis, and Archer and
• 1:15:15
  Speaker 1: Beta have launched something called Americans Consortium for Electric Skyways,
• 1:15:20
  Speaker 1: which aims to also build this kind of infrastructure two
• 1:15:24
  Speaker 1: hundred and fifty airports and vertical ports across the US.
• 1:15:28
  Speaker 1: They expect that by twenty thirty it's just around the
• 1:15:31
  Speaker 1: corner twenty thirty. One of the cool things about Atoms Atoms,
• 1:15:37
  Speaker 1: which is the infrastructure company, is that it is led
• 1:15:43
  Speaker 1: by Travis Kalanick. Travis Kalanick was the see of Uber
• 1:15:49
  Speaker 1: when Uber broke through, when Uber you know, achieved its
• 1:15:53
  Speaker 1: major success, and it was Kalanick really who pushed them
• 1:16:01
  Speaker 1: through in you know and and gnod regulations and really
• 1:16:07
  Speaker 1: really got made Uber what it is. So the idea
• 1:16:12
  Speaker 1: of him being now the seeo a company that is
• 1:16:16
  Speaker 1: going to disrupt transportation again but this time gives flying
• 1:16:22
  Speaker 1: cause I think is super cool, super cool, Callenick said.
• 1:16:29
  Speaker 1: The designing and deploying a new asset class to support
• 1:16:34
  Speaker 1: you know, uh at at the support job joby taxis
• 1:16:40
  Speaker 1: uh is critical. Uh and uh so he is involved
• 1:16:45
  Speaker 1: in this. He is a hard driving CEO, hard driving entrepreneur,
• 1:16:49
  Speaker 1: relentless and uh and and extraordinarily able and of course
• 1:16:57
  Speaker 1: uh this is this is a great way in which
• 1:17:02
  Speaker 1: Kalinikigin can disrupt disrupt transportations. So great story. We might
• 1:17:06
  Speaker 1: be getting offline cause soon soon twenty thirty, that's good.
• 1:17:13
  Speaker 1: SpaceX just launched three giant blue Bird satellites. Now, these
• 1:17:20
  Speaker 1: blue Bird satellites are direct to sell satellites. What does
• 1:17:28
  Speaker 1: that mean? That does mean you will be able to
• 1:17:30
  Speaker 1: make phone calls on your cell not through a system
• 1:17:35
  Speaker 1: of microwaves and antennas all over you know, the city
• 1:17:40
  Speaker 1: and over the countryside. But given that that is a
• 1:17:45
  Speaker 1: lot of infrastructure, and that is that has a lot
• 1:17:49
  Speaker 1: of blind spots, a lot of areas that you don't
• 1:17:52
  Speaker 1: have cell coverage even today, satellites will be able to
• 1:17:56
  Speaker 1: provide you with global coverage for cell phone TRANSMISSI. Right.
• 1:18:02
  Speaker 1: So a company called ast space Mobile is building a
• 1:18:07
  Speaker 1: massive direct to sell satellite network. The satellites themselves are
• 1:18:13
  Speaker 1: very big, but they're going to be They're going to
• 1:18:16
  Speaker 1: travel a low bit and they are going to have
• 1:18:21
  Speaker 1: to figure out how to communicate with cell phones how
• 1:18:25
  Speaker 1: to there's a lot of interference when you go into
• 1:18:27
  Speaker 1: that part of space. They're gonna have to deal with interference.
• 1:18:30
  Speaker 1: So these are the first three which are going to well, no,
• 1:18:39
  Speaker 1: actually they have already thirteen. This will be the thirteen
• 1:18:44
  Speaker 1: and this will mean the constellation is fully up and
• 1:18:47
  Speaker 1: running and now it's testing and rolling out and showing
• 1:18:53
  Speaker 1: that it's commercially viable because part of the problem is
• 1:18:55
  Speaker 1: going to be cost you know, does this is this
• 1:19:01
  Speaker 1: cost effective versus the the you know, the way we
• 1:19:06
  Speaker 1: use cell phones today. As the space Mobile began assembling,
• 1:19:13
  Speaker 1: its constellation will block one spacecraft which have communications that
• 1:19:17
  Speaker 1: rays that cover six hundred and ninety three square feet.
• 1:19:20
  Speaker 1: That's pretty big when unfold. Right. So, now Bluebird six,
• 1:19:29
  Speaker 1: which reached low Earth orbit yesterday, it has two thousand,
• 1:19:37
  Speaker 1: four hundred square feet of antennas. So these are big
• 1:19:42
  Speaker 1: has compared to the Starlink satellites which are very small.
• 1:19:45
  Speaker 1: These a big satellite with a big footprint in low
• 1:19:49
  Speaker 1: Earth orbit. Right, So looking forward to the day where
• 1:19:55
  Speaker 1: you know, we'll just have so many different competitive alternatives
• 1:20:02
  Speaker 1: for voice and data, whether it's you know, cable or
• 1:20:09
  Speaker 1: fiber optics, or whether it's cellular networks of different types
• 1:20:15
  Speaker 1: on the ground, or whether it's cellular satellite networks, or
• 1:20:18
  Speaker 1: whether it's a Stallink like system. This is this is
• 1:20:22
  Speaker 1: pretty pretty cool stuff. This is a quote from ast
• 1:20:29
  Speaker 1: Space Mobile quote. These next generation Bluebird satellites expected to
• 1:20:33
  Speaker 1: deliver neybe double the peak download speeds achieved by the
• 1:20:37
  Speaker 1: company's initial Block one Bluebird satellites, which recently demonstrated peak
• 1:20:42
  Speaker 1: download speed of ninety eight point nine megabytes per second
• 1:20:46
  Speaker 1: directly the standards smartphones. So yeah, I mean, if these
• 1:20:51
  Speaker 1: can get up to good speeds, you know, this could
• 1:20:57
  Speaker 1: make stalling opsolete because you could run everything off of
• 1:20:59
  Speaker 1: yourself one so very cool technology. It's being rolled out.
• 1:21:08
  Speaker 1: I this is a this is this is a paper
• 1:21:13
  Speaker 1: that was published and I saw this, found this on
• 1:21:16
  Speaker 1: Twitter and read the thread and looked at the paper
• 1:21:20
  Speaker 1: and there's an article in the City Journal about it. Uh,
• 1:21:24
  Speaker 1: this is a really cool academic article. And so I'm
• 1:21:29
  Speaker 1: going to read you from the City Journal article because
• 1:21:30
  Speaker 1: I think it does a good job kind of summarizing
• 1:21:34
  Speaker 1: what what is being done. Right. What the research is
• 1:21:42
  Speaker 1: trying to do before I read you is he's trying
• 1:21:45
  Speaker 1: to figure out what were the cultural values prevalent in
• 1:21:51
  Speaker 1: the West in our past. So are the cultural values
• 1:21:57
  Speaker 1: in one thousand a d the culture values in fifteen
• 1:22:01
  Speaker 1: hundred and culture values are things like the attitude and
• 1:22:07
  Speaker 1: the culture towards innovation or towards new ideas, towards risk taking,
• 1:22:15
  Speaker 1: towards the future versus the past or a tradition and
• 1:22:19
  Speaker 1: coding those Now, how would you do that? How would
• 1:22:21
  Speaker 1: you figure out what the cultural values and how do
• 1:22:24
  Speaker 1: you systematize that in a way that you can actually measure? See,
• 1:22:29
  Speaker 1: here's here's the things this academic Stefanski, he studies the
• 1:22:36
  Speaker 1: West attitude towards change and new ideas, and he asks
• 1:22:42
  Speaker 1: if shifts in these values go hand in hand with
• 1:22:45
  Speaker 1: economic development and productivity. This is from the City Journal article.
• 1:22:50
  Speaker 1: He starts by turning Google Gemini AI loose on about
• 1:22:55
  Speaker 1: twenty three thousand English language books that are publicly available
• 1:23:00
  Speaker 1: in digital form from Project Gutenberg. Some texts were published
• 1:23:05
  Speaker 1: as long ago as Jesus's time, so starting in zero
• 1:23:09
  Speaker 1: right through the early year, though the early years of
• 1:23:12
  Speaker 1: sparse and the bulk of the paper are from one
• 1:23:16
  Speaker 1: thousand to nineteen twenty, after which point you get copyrights
• 1:23:22
  Speaker 1: and that becomes an issue. So in decades past, faced
• 1:23:26
  Speaker 1: with this mountain of text, even computer programs might have
• 1:23:31
  Speaker 1: been limited to counting how many times various words and
• 1:23:35
  Speaker 1: phrases appear. A contrast, modern AI can flexibly identify what
• 1:23:42
  Speaker 1: values a book discusses, whether those values are endorsed, condemned,
• 1:23:47
  Speaker 1: or merely described objectively. Stefanski's tallies up how texts have
• 1:23:54
  Speaker 1: treated several values, most importantly hierarchy, social hierarchy, fear of
• 1:24:00
  Speaker 1: the unknown, autonomy the individual's autonomies, individualism in some sense,
• 1:24:06
  Speaker 1: and patience, that is, willingness to wait for the future
• 1:24:13
  Speaker 1: to calculate the evolving cultural stock of each a given
• 1:24:19
  Speaker 1: year stock takes into account books published previously, but all
• 1:24:24
  Speaker 1: the books gets progressively less weight. This is a case
• 1:24:29
  Speaker 1: where the war tread line tells much of the story
• 1:24:33
  Speaker 1: by themselves. So you know, what do we get from
• 1:24:38
  Speaker 1: the war tread lines. Hierarchy higherarchy is really really important
• 1:24:43
  Speaker 1: in the one thousand. It remains important, although slightly declined
• 1:24:50
  Speaker 1: to the year fifteen hundred, which is about the Renaissance,
• 1:24:54
  Speaker 1: and then starts declining sharply. So social hierarchy, aristocrat kings,
• 1:25:02
  Speaker 1: where you are in the social higher the imparts of
• 1:25:05
  Speaker 1: that declines dramatically starting in fifteen hundred all the way
• 1:25:09
  Speaker 1: to nineteen you know, really to the late nineteenth century,
• 1:25:13
  Speaker 1: and then it flattens out to nineteen twenty. Fear of
• 1:25:18
  Speaker 1: the unknown. That's an interesting one, fear of the unknown basically,
• 1:25:24
  Speaker 1: so think about this superstitious cultures, fear of that unknown.
• 1:25:30
  Speaker 1: If you take the period of one thy and nineteen
• 1:25:32
  Speaker 1: twenty peaks at i don't know, at around eleven hundred. Yeah,
• 1:25:38
  Speaker 1: you know, this is still the early Middle Ages. We're
• 1:25:42
  Speaker 1: still coming out of that Dark Ages where fear of
• 1:25:44
  Speaker 1: the unknown is heightened. It's still a very superstitious religious culture.
• 1:25:50
  Speaker 3: And then it starts going down slowly, because goes up
• 1:25:54
  Speaker 3: again around fourteen hundred, and then from about fourteen hundred
• 1:25:58
  Speaker 3: maybe thirteen fifty, right slow, steady decline all the way
• 1:26:05
  Speaker 3: to nineteen twenty, and it actually decline accelerates around nineteen hundred.
• 1:26:12
  Speaker 1: Patients. This is an interesting one. Lack of patience peaks
• 1:26:19
  Speaker 1: again at around one hundred one eleven hundred, and then
• 1:26:25
  Speaker 1: goes up a lot, going into about twelve fifty, then
• 1:26:30
  Speaker 1: declines sharply into about fourteen hundred, and then patients increases
• 1:26:39
  Speaker 1: steadily and systematically from the renaissance on till nineteen twenty.
• 1:26:45
  Speaker 1: And think about higherarchy. Fear of that known autonomy Now
• 1:26:50
  Speaker 1: let's do Let's do autonomy, and then will generalize autonomy
• 1:26:57
  Speaker 1: a measure of individualism, the autonomy of the individual to
• 1:27:01
  Speaker 1: live his life. I think it's somewhat inverse to it's hierarchy.
• 1:27:06
  Speaker 1: And you see that you see that autonomy is that
• 1:27:10
  Speaker 1: at lowest points that are around twelve hundred, let's say,
• 1:27:15
  Speaker 1: and then is a steady increase with some ups and downs.
• 1:27:19
  Speaker 1: You know, it rises to around fourteen hundred, then it
• 1:27:22
  Speaker 1: declients to fifteen hundred then it's a steady increase in
• 1:27:25
  Speaker 1: nineteen twenty and thinking about what is hierarchy, lack of hierarchy,
• 1:27:30
  Speaker 1: an embrace of the unknown or less fear of the unknown,
• 1:27:34
  Speaker 1: more autonomy and more patience. I mean this is this
• 1:27:40
  Speaker 1: is set up for capitalism, This is set up for freedom.
• 1:27:45
  Speaker 1: These are the these are the these are the kind
• 1:27:47
  Speaker 1: of values you need for freedom. So this is on
• 1:27:53
  Speaker 1: the article. The webster, or at least a literate elite
• 1:27:56
  Speaker 1: whose preoccupations are reflected in the surviving digitalized books, gradually
• 1:28:03
  Speaker 1: endorsed hierarchy and fear of the unknown, less and patience
• 1:28:08
  Speaker 1: and autonomy more over, this time spent. As Stefanski notes,
• 1:28:14
  Speaker 1: some of these trends support the importance of fifteen hundred
• 1:28:17
  Speaker 1: to seventeen hundred period. The Jaw mackayear Is two thousand
• 1:28:23
  Speaker 1: and sixteen book A Culture of Growth Emphasized, A very
• 1:28:27
  Speaker 1: good book, a highly encourage Stefanski then proves the link
• 1:28:31
  Speaker 1: between culture and economic growth, making use of these variables
• 1:28:35
  Speaker 1: an index combining them he calls the innovation wedge and
• 1:28:38
  Speaker 1: an even broader friction measure that incorporates attitudes towards indulgence
• 1:28:43
  Speaker 1: and competitive striving as well. His data allow him to
• 1:28:48
  Speaker 1: track how culture evolved at different paces in different places,
• 1:28:52
  Speaker 1: and to connect this variation to economic outcomes. It's hard
• 1:28:56
  Speaker 1: to prove that cultural change cause economic ones, of course,
• 1:29:00
  Speaker 1: but they indeed seem to go hand in hand the
• 1:29:03
  Speaker 1: highly correlated. In one exercise, Stefanski shows that his countries
• 1:29:08
  Speaker 1: produced texts with a lower innovation wedge, less higher key
• 1:29:14
  Speaker 1: and fear of the unknown, more patience and autonomy. They
• 1:29:17
  Speaker 1: also tended to produce more future inventors and scientists. Yeah.
• 1:29:22
  Speaker 1: In another, he shows that pro innovation values predict later
• 1:29:28
  Speaker 1: nearby urbanization. I mean, I love this because I mean,
• 1:29:34
  Speaker 1: it's all stuff that we know, but it's great to
• 1:29:38
  Speaker 1: get kind of an interesting take on an empirical validation
• 1:29:44
  Speaker 1: of that knowledge. It continues and im perhaps the most
• 1:29:48
  Speaker 1: speculative calculation. Based on some complex modeling, he estimates that
• 1:29:53
  Speaker 1: the falling wedge raises nineteen twenties productivity to one point
• 1:29:59
  Speaker 1: seven eight times it's counterfactual level where these values remain
• 1:30:02
  Speaker 1: frozen in the year one thousand, he explains, explains two
• 1:30:08
  Speaker 1: thirds of the first sustained acceleration and productivity growth between
• 1:30:11
  Speaker 1: fifteen hundred and seventeen hundred and accounts for thirty eight
• 1:30:14
  Speaker 1: plus seven percent of the productivity growth in nineteen twenty.
• 1:30:17
  Speaker 1: So I think this is speculative but still interesting that
• 1:30:21
  Speaker 1: you can put numbers to it, to just any concerns
• 1:30:26
  Speaker 1: about Gemini's coding or project Gutenberg's sample. Stefanski double checked,
• 1:30:34
  Speaker 1: double checks the finding in several ways, including by comparing
• 1:30:38
  Speaker 1: the AI readings of the books with human experts for
• 1:30:41
  Speaker 1: some of the books. So he does some spot checks
• 1:30:45
  Speaker 1: for a significant number of the books, and then he
• 1:30:48
  Speaker 1: uses a different digital archive of books to see if
• 1:30:51
  Speaker 1: he can validate the result using that. Now, this is
• 1:30:57
  Speaker 1: really cool and it's a kind of project you could
• 1:31:00
  Speaker 1: do you couldn't do without Ei. So I encourage you
• 1:31:05
  Speaker 1: to follow this guy. I mean, if I find his
• 1:31:06
  Speaker 1: work really Radik Stefanski radik ai d e k Stefanski
• 1:31:14
  Speaker 1: st e f a n s Ki. You know, I
• 1:31:21
  Speaker 1: like data that shows how history played out, and how
• 1:31:26
  Speaker 1: ideas presented in books reflect changes in culture and don't
• 1:31:34
  Speaker 1: reflect changes in cultures, they change the culture, and the
• 1:31:38
  Speaker 1: changes in culture then manifest and changed economic political cultural behavior,
• 1:31:45
  Speaker 1: and that results in economic growth. So really interesting stuff,
• 1:31:50
  Speaker 1: and I think, really really cool. And then he does
• 1:31:53
  Speaker 1: it for different countries. He bakes it up by areas,
• 1:31:57
  Speaker 1: and so I encourage you to go read some of
• 1:31:59
  Speaker 1: the threads about this. It's kind of fun, all right.
• 1:32:04
  Speaker 1: I was worried I would be going too short today,
• 1:32:08
  Speaker 1: so I prepared a bunch of other material. But we've
• 1:32:09
  Speaker 1: gone him an hour and a half and we haven't
• 1:32:12
  Speaker 1: really raised two hours worth of fun. So I'll cut
• 1:32:16
  Speaker 1: it short there. We'll cover some of the other stories
• 1:32:19
  Speaker 1: I had another time. Uh, and but we will turn
• 1:32:25
  Speaker 1: now to super chat questions and we'll jump into theirs.
• 1:32:29
  Speaker 1: I'll just remind you can support the show on Patreon,
• 1:32:32
  Speaker 1: So jump in with on Patreon and you can do
• 1:32:35
  Speaker 1: it right now and and become a monthly support of
• 1:32:38
  Speaker 1: the show. It's it's the most valuable way to support
• 1:32:40
  Speaker 1: the show. And yeah, and don't forget you can still
• 1:32:46
  Speaker 1: ask questions, and you can still you can certainly still
• 1:32:49
  Speaker 1: do stickers. And let me just thank the stick of people.
• 1:32:53
  Speaker 1: Let me thank Catherine from Europe Exit Bonnie Wes fifty dollars.
• 1:33:03
  Speaker 1: Thank you Wes really really really appreciate the fifty dollars.
• 1:33:06
  Speaker 1: And let's see the dumb Let's see if there are
• 1:33:10
  Speaker 1: any other stickers down that's it. That's the stick of people.
• 1:33:13
  Speaker 1: So thank you. Let's jump to the questions, and we've
• 1:33:17
  Speaker 1: got a couple of Yeah, this one's very generous from
• 1:33:20
  Speaker 1: Remo sixty European sixty euros. Do you think the film
• 1:33:27
  Speaker 1: I'm going rhetoric from Anthropic and Opening Eye would disappear
• 1:33:31
  Speaker 1: if they went public as a traditional C corp or
• 1:33:34
  Speaker 1: LLC rather, you know, instead of a public benefits corporation PBC,
• 1:33:41
  Speaker 1: rather than remain privately private. Well we'll find out, because
• 1:33:43
  Speaker 1: they're going to go public soon, supposedly because of fiduciary
• 1:33:47
  Speaker 1: duty for example. Well, well we won't find out. You're right,
• 1:33:51
  Speaker 1: because they're going to go public as public beneficiary corporations
• 1:33:54
  Speaker 1: so that they don't have a fiduciary duty to make
• 1:33:57
  Speaker 1: sure his share holder wealth. I don't know, right, I mean,
• 1:34:02
  Speaker 1: they could argue that their fearmon going is justified by
• 1:34:08
  Speaker 1: their fiducial responsibility shareholders. Shareholders are going to be harmed
• 1:34:12
  Speaker 1: by the unleashed AI destroying the world, so them warning
• 1:34:19
  Speaker 1: about it is going to help shareholders. I don't think
• 1:34:21
  Speaker 1: the courts construe protecting shareholders or even maximizing shareholder wealth
• 1:34:28
  Speaker 1: narrowly in terms of just share price. Right, if you're
• 1:34:31
  Speaker 1: producing a product that has the potential to hood mankind destroy,
• 1:34:37
  Speaker 1: you know, destroy, you know, the world, then I think
• 1:34:44
  Speaker 1: the courts would construe it as, Yeah, you have fiducial
• 1:34:46
  Speaker 1: duty to warn your shareholders of that, to let them prepare,
• 1:34:51
  Speaker 1: to let them sell their shares if they think it's
• 1:34:53
  Speaker 1: it's it's a bad idea. So I think it's the
• 1:34:55
  Speaker 1: kind of information they would have to do anyway. No,
• 1:34:57
  Speaker 1: and look, I don't think it would. I don't. I
• 1:35:00
  Speaker 1: don't know who would sue them for lack of fiduciary responsibility.
• 1:35:03
  Speaker 1: But they're really committed to the doomsday stuff, you know. Also,
• 1:35:10
  Speaker 1: they could back the argument that the doom day stuff
• 1:35:12
  Speaker 1: is allowing for a regulatory capture, which they would argue
• 1:35:15
  Speaker 1: on maximizing shareholder wealth. Right, So yeah, it's I don't know.
• 1:35:24
  Speaker 1: If they actually were profit maximizing and they went public,
• 1:35:28
  Speaker 1: I don't know what they would do. Of course, that's
• 1:35:29
  Speaker 1: not the case. They're not that they don't have to
• 1:35:33
  Speaker 1: take in account shaholders at all because they're public benefit corporations,
• 1:35:40
  Speaker 1: all right. Mark Michael. Michael says there are claims on
• 1:35:48
  Speaker 1: the right that the Islam is taking over America, citing
• 1:35:52
  Speaker 1: Michigan as evidence. From an objective's perspective, how should we
• 1:35:56
  Speaker 1: respond to the anti immigration calls and request a return
• 1:36:01
  Speaker 1: to making America Christian again? Thank you? Well, I mean
• 1:36:05
  Speaker 1: that's a big question, and I'll be covering different aspects
• 1:36:09
  Speaker 1: of this in future shows. But America is not a
• 1:36:13
  Speaker 1: Christian country. It never was a Christian country. It's not
• 1:36:16
  Speaker 1: based on Christian values or a Christian foundation. So we
• 1:36:21
  Speaker 1: should reject all cause to make American Christian again because
• 1:36:26
  Speaker 1: you know, American never was and shouldn't be. America is
• 1:36:30
  Speaker 1: founded and grounded in a secular foundation, a foundation of
• 1:36:34
  Speaker 1: individual rights, and we should be arguing for America's maintaining
• 1:36:42
  Speaker 1: its position as a rights respecting nation and that that
• 1:36:47
  Speaker 1: is at the core of what America is and what
• 1:36:50
  Speaker 1: America represents and what makes America great. So we need
• 1:36:55
  Speaker 1: to fight for a positive image of America as rights
• 1:36:59
  Speaker 1: suspecting as thus as rights was pecking a secular country. Now,
• 1:37:10
  Speaker 1: the whole idea that Islam is taking over American's ridiculous.
• 1:37:14
  Speaker 1: Muslims are very very small percentage of Americans. They're taking
• 1:37:18
  Speaker 1: over parts of Michigan, that's true. And because we don't
• 1:37:23
  Speaker 1: have you know, proper rights protections, they will pass laws
• 1:37:30
  Speaker 1: that are going to be detrimental to Americans. But that's
• 1:37:34
  Speaker 1: a problem for us, not enforcing our constitution and not
• 1:37:38
  Speaker 1: enforcing rights that makes that possible, not the fact that
• 1:37:42
  Speaker 1: they're Muslims. So, you know, Islam is not a threat
• 1:37:48
  Speaker 1: to America. Christianity is because a lot of the ways
• 1:37:52
  Speaker 1: in which Islam would like to violate our rights, Christianity
• 1:37:56
  Speaker 1: ready is you know, would like to do the same
• 1:38:01
  Speaker 1: thing right, would like to do the same thing right.
• 1:38:10
  Speaker 1: So whether it's restrictions a certain speech where there's restrictions
• 1:38:12
  Speaker 1: and on certain behaviors, look at the ftc uh so. No,
• 1:38:19
  Speaker 1: I mean, America's never Christian, should never be Christian, and
• 1:38:24
  Speaker 1: Christians actually represent the greatest threat to American liberty. The
• 1:38:27
  Speaker 1: Muslims because they're the majority. In Muslims are tiniest of minorities. Now,
• 1:38:31
  Speaker 1: I will talk more about Islam in America on a
• 1:38:34
  Speaker 1: future show. I'll try to document what's actually going on.
• 1:38:37
  Speaker 1: Where are the trouble spots. There's some trouble spots in Texas,
• 1:38:40
  Speaker 1: there's a trouble spots obviously in Michigan there's Uh, there's
• 1:38:44
  Speaker 1: there's there's problems, and you know, somalis in Minneapolis, maybe
• 1:38:49
  Speaker 1: in parts of New Jersey. And then try to extrapolate, Okay,
• 1:38:54
  Speaker 1: how does that affect the country? Coak country? And then
• 1:38:57
  Speaker 1: also what's the right way to stop them? And let
• 1:39:00
  Speaker 1: me just say, the right way to stop them is
• 1:39:03
  Speaker 1: to biden and respect the American constitution, to return to
• 1:39:07
  Speaker 1: the rule of law, and primarily the rule of law
• 1:39:11
  Speaker 1: here means the protection of individual rights. Mark, Thank you, Mark,
• 1:39:20
  Speaker 1: Mark one hundred dollars as American never was Christian. Thank you, Jron, absolutely,
• 1:39:24
  Speaker 1: thank you, Mark one hundred and fifty dollars. Really appreciate
• 1:39:27
  Speaker 1: that you really saved the day here. That's great, all right,
• 1:39:36
  Speaker 1: Ngentinian Argentinian in Taiwan Hi doctor book. Micron is dealing
• 1:39:42
  Speaker 1: with a bat conservation effort trying to block the construction
• 1:39:48
  Speaker 1: of its new plant in Syracuse, New York. Hollywood couldn't
• 1:39:53
  Speaker 1: write this shit? Ps how much to review the financial
• 1:39:57
  Speaker 1: the ft article? Why this philosopher turn down anthropic? I
• 1:40:03
  Speaker 1: don't know one hundred bucks. I'll review that article. So
• 1:40:07
  Speaker 1: just you can do that on PayPal or you can
• 1:40:09
  Speaker 1: do it here on super chat. But I'll review the article.
• 1:40:16
  Speaker 1: Send me the link if you can, to the article
• 1:40:18
  Speaker 1: with the contribution. Yeah. I mean these stories about companies
• 1:40:25
  Speaker 1: not being able to build, not being able to construct,
• 1:40:28
  Speaker 1: not being able to make stuff, which of course everybody
• 1:40:31
  Speaker 1: blames on, Oh, China, and we've exported manufacturing to China.
• 1:40:36
  Speaker 1: Why do they go to China because the environmentalists won't
• 1:40:40
  Speaker 1: let them build in the United States. I mean the
• 1:40:43
  Speaker 1: fact that we will prioritize bats and Syracuse, New York
• 1:40:46
  Speaker 1: over a manufacturing plant to build next generation chips microprocesses
• 1:40:52
  Speaker 1: is ludicrous and insane and suicidal, anti human being, an
• 1:40:57
  Speaker 1: anti man and anti rights and anti anti constant stitution
• 1:41:00
  Speaker 1: properly interpreted. So yeah, this is this is just it
• 1:41:07
  Speaker 1: is horrible. And you know, Hollywood loves stories like this
• 1:41:16
  Speaker 1: because they love the bats more than they love human beings.
• 1:41:19
  Speaker 1: Human life needs more microprocesses. By placing by not building
• 1:41:25
  Speaker 1: micros plants in order to protect bats, you're placing the
• 1:41:29
  Speaker 1: lives of bats above the lives of human beings. Jeff
• 1:41:35
  Speaker 1: new shirt, Yes to new shirt. My wife bought me camouflage.
• 1:41:40
  Speaker 1: This is my military shirt, my camouflage military shirt. I
• 1:41:43
  Speaker 1: noticed on the chat a lot of people like the
• 1:41:45
  Speaker 1: shirt partially because I guess you see the same shirts
• 1:41:48
  Speaker 1: over and over and over again. You kind of noticed
• 1:41:50
  Speaker 1: when I wear somebody something new. You guys know, you
• 1:41:53
  Speaker 1: guys know my woodrobe as well as I do. So
• 1:41:59
  Speaker 1: I'm glad you like the shirt. My wife liked it.
• 1:42:01
  Speaker 1: I like it, so she she buys my clothes. So uh,
• 1:42:07
  Speaker 1: but we have similar tastes, so yeah, it's kind of cool.
• 1:42:10
  Speaker 1: Reminds me of being in the Israeli Army wearing my
• 1:42:15
  Speaker 1: green uniform. All right, Jeffrey said from from Osa. Have
• 1:42:21
  Speaker 1: you seen the bronze bust a Bethaven by Boulldell. Thank
• 1:42:26
  Speaker 1: you for the museum wrecks couldn't get into the louver
• 1:42:30
  Speaker 1: they closed early because of the heat. Oh god, ah,
• 1:42:37
  Speaker 1: so many so many comments on in Europe and air
• 1:42:40
  Speaker 1: conditioning you could make about that. Yeah, that's god. I
• 1:42:44
  Speaker 1: am sorry you can't get into the louver. That is
• 1:42:47
  Speaker 1: a real loss. But I'm glad you can make it
• 1:42:49
  Speaker 1: to those.
• 1:42:50
  Speaker 3: Ay.
• 1:42:51
  Speaker 1: And yes, I know the Beethoven bust and I like
• 1:42:57
  Speaker 1: I I you know, I like busts of Beethoven, the
• 1:43:02
  Speaker 1: very you know, the very expressive. This one, this one's
• 1:43:08
  Speaker 1: pretty ugly, so I'm just looking at it, so I
• 1:43:11
  Speaker 1: was confusing it with something else. This is not a
• 1:43:14
  Speaker 1: bust of Beta, and I like this one is this
• 1:43:17
  Speaker 1: one is I don't know, it's it's too ugly. But
• 1:43:23
  Speaker 1: I remind you there's the young Aristotle in the Dusse.
• 1:43:26
  Speaker 1: I think I told you about that. That was my favorite.
• 1:43:28
  Speaker 1: But he made he made a whole series of Beethovens
• 1:43:37
  Speaker 1: and there, you know, the very expressionistic pieces trying to
• 1:43:43
  Speaker 1: express the anngst the Beethoven felt felt because of his deafness.
• 1:43:49
  Speaker 1: I should do a show on Beethoven because he's such
• 1:43:51
  Speaker 1: an amazing human character and human being. Yeah, I don't
• 1:43:56
  Speaker 1: like them. I like some of the other Beethoven busts
• 1:44:00
  Speaker 1: that other people have have done that are more of
• 1:44:03
  Speaker 1: him being reflective. Now I'm looking at a picture of
• 1:44:06
  Speaker 1: the one at the at the oh say yeah, this
• 1:44:10
  Speaker 1: is better than the other ones. But still yeah two
• 1:44:16
  Speaker 1: anguished two Yeah, too distressed and not you know, I
• 1:44:26
  Speaker 1: think it's abstracting away what makes Beto, the intensity of
• 1:44:29
  Speaker 1: Betro and focusing in on the anguish. What I like
• 1:44:33
  Speaker 1: is when there's intensity and you can see the anguish
• 1:44:36
  Speaker 1: he's struggling and Beta, it is a struggler, there's no
• 1:44:38
  Speaker 1: question about it. But there are other there are other
• 1:44:43
  Speaker 1: busts that I think that are better. I mean the
• 1:44:49
  Speaker 1: famous ones that you can find if en reproductions online.
• 1:44:54
  Speaker 1: I have one at home that is that is really cool.
• 1:44:57
  Speaker 1: There are a lot of them, all right, thank you, Jeffrey,
• 1:45:02
  Speaker 1: and enjoy enjoy the or say and yeah, maybe maybe
• 1:45:09
  Speaker 1: another day you can make it into the loof And oh,
• 1:45:12
  Speaker 1: what restaurants are you going to in Paris? Don't forget
• 1:45:15
  Speaker 1: to send me your recommendations for Paris Remo. What would
• 1:45:20
  Speaker 1: you say to persuade a coworker of supervisor or supervisor
• 1:45:25
  Speaker 1: to abandon stakeholder theory and focus on shareholder with maximization. Well,
• 1:45:31
  Speaker 1: the stakeholder theory is destructive. It's recital, you know. Just
• 1:45:37
  Speaker 1: want an exercise with the person make a list of
• 1:45:40
  Speaker 1: all the stakeholders and then ask them to make a
• 1:45:44
  Speaker 1: difficult decision about some corporate strategy by taking stakeholder theory
• 1:45:50
  Speaker 1: into account. How do you even do it? How do
• 1:45:53
  Speaker 1: you even approach it? How do you weigh the different
• 1:45:56
  Speaker 1: stakeholder interests? And even among stakeholders, they don't agree on
• 1:46:00
  Speaker 1: their interests. It's an exercise and futility. Like all utilitarian
• 1:46:05
  Speaker 1: exercises where shoulder at we maximization is a narrow function.
• 1:46:12
  Speaker 1: You know exactly what you'd have to do, and you
• 1:46:15
  Speaker 1: can show that most stakeholders important stakeholders a better off
• 1:46:21
  Speaker 1: if you maximize shoholder wealth. You can run that exercise
• 1:46:26
  Speaker 1: and uh it's you know, ask him put pluses and
• 1:46:32
  Speaker 1: minuses next to the stakeholders depending on whether they benefit
• 1:46:37
  Speaker 1: or lose from any particular decision. Wemo says, value for value,
• 1:46:41
  Speaker 1: Thank you, Roomen really appreciate that. Roland says your Swiss
• 1:46:45
  Speaker 1: listeners do. Indeed, like this time, I appreciate that. And
• 1:46:52
  Speaker 1: thoughts on Kuela migration overrun. Yeah, I mean, look, Guela
• 1:46:58
  Speaker 1: is a Spanish enclave. It's a Spanish town inside Morocco,
• 1:47:02
  Speaker 1: right on the coast of Morocco. It's not in Spain,
• 1:47:05
  Speaker 1: it's in Morocco. Moroccas long claimed that it's part of
• 1:47:09
  Speaker 1: Morocco and that the Spanish should leave, and indeed, decades ago,
• 1:47:18
  Speaker 1: when the Moroccans wanted the Spanish to leave the Western Sahara,
• 1:47:22
  Speaker 1: which was an area south south of Morocco which Morocco
• 1:47:27
  Speaker 1: claimed title to, but the Spanish occupied it basically sent
• 1:47:32
  Speaker 1: I think it was two hundred and fifty thousand people,
• 1:47:35
  Speaker 1: just unarmed civilians into the area and they basically overran
• 1:47:44
  Speaker 1: the place. And ultimately that led to the Spanish leaving
• 1:47:49
  Speaker 1: because the Spanish, we're not going to shoot civilians, unarmed people,
• 1:47:54
  Speaker 1: and they didn't belong there, so they left and Moroccos
• 1:47:59
  Speaker 1: claimed claimed that area. And in actually the indigenous people,
• 1:48:06
  Speaker 1: indigenous they want independence and Morocco won't let them, so
• 1:48:09
  Speaker 1: they have I think some autonomy. So they did it.
• 1:48:12
  Speaker 1: They did it back then right now Morocco. Morocco's claiming
• 1:48:20
  Speaker 1: the town of Suela. And there's plenty of evidence to
• 1:48:25
  Speaker 1: suggest that Rocan border guards encouraged people to cross the
• 1:48:33
  Speaker 1: border into Spain. Whereas usually they blocked the border. Here,
• 1:48:36
  Speaker 1: they funneled them in that the sheer number sixty thousand people.
• 1:48:42
  Speaker 1: It couldn't have just happened by happening by chance. That
• 1:48:45
  Speaker 1: it was, it was motivated by a few things. One
• 1:48:49
  Speaker 1: rumors online that the Spanish were just giving out would
• 1:48:55
  Speaker 1: make everybody a citizen and a resident, that they could
• 1:48:59
  Speaker 1: easily get it Spain from there, and then the Moroccans
• 1:49:03
  Speaker 1: shuffling in helping them along the reality is that for
• 1:49:08
  Speaker 1: the most part, you know, Morocco holds them back. Now,
• 1:49:11
  Speaker 1: there are lots of people in Morocco, young people in
• 1:49:13
  Speaker 1: Morocco who are unemployed and are relatively poor, and certainly
• 1:49:18
  Speaker 1: there are people in South Southern Africa who come to
• 1:49:21
  Speaker 1: Morocco maybe with a hope we're getting to Europe, who
• 1:49:26
  Speaker 1: are super unbelievably poor and unemployed and they have nothing
• 1:49:31
  Speaker 1: to lose. But trying to overrun Swella, now, this is
• 1:49:37
  Speaker 1: not how you do immigration policy by overrunning. And you know,
• 1:49:42
  Speaker 1: ultimately most of the people, if not all, the people
• 1:49:44
  Speaker 1: left well and went back to Morocco because it was
• 1:49:47
  Speaker 1: basically a failure border control, but a failure that was
• 1:49:51
  Speaker 1: inevitable given what the Moroccans were doing. And note that,
• 1:50:02
  Speaker 1: you know, people say, oh, if Franco was around, you
• 1:50:05
  Speaker 1: would have shot them all. Yeah, they didn't shoot them all.
• 1:50:07
  Speaker 1: And yet they're all going back the police and so
• 1:50:11
  Speaker 1: I love rounding them up and sending them back. They're
• 1:50:13
  Speaker 1: not staying there. They're certainly not putting them on ships
• 1:50:16
  Speaker 1: and transporting them to mainland Spain. Right, that ain't happening.
• 1:50:22
  Speaker 1: So the gain is still high. You say, when I
• 1:50:25
  Speaker 1: get excited, I can definitely reduce the gain. Yeah, let
• 1:50:32
  Speaker 1: me know if that is that is better, If that
• 1:50:37
  Speaker 1: is better, should be quite a bit lower gain there.
• 1:50:43
  Speaker 1: So hopefully, hopefully you don't get you don't get any distortion. So, yes,
• 1:50:54
  Speaker 1: this is this is not this doesn't represent anything other
• 1:51:03
  Speaker 1: than what we know, which is this massive demand to
• 1:51:07
  Speaker 1: immigrate to Europe. And the solution for immigration to Europe
• 1:51:11
  Speaker 1: is get rid of the welfare state in Europe and
• 1:51:14
  Speaker 1: have a process by which you accept immigrants into Europe
• 1:51:19
  Speaker 1: who can find a job in Europe. So again, my
• 1:51:22
  Speaker 1: solution to immigration is match immigrants with people who will
• 1:51:27
  Speaker 1: employ them and make it a condition to immigrate that
• 1:51:30
  Speaker 1: they can find a job. But yeah, a lot of
• 1:51:35
  Speaker 1: this was motivated by pressure moroccos putting on Spain. Andrew,
• 1:51:41
  Speaker 1: did you integate any new knowledge about objectivism or fortify
• 1:51:45
  Speaker 1: any particular area of the philosophy and the preparing and
• 1:51:49
  Speaker 1: doing the course on iron Rand for the Peterson Academy. Oh,
• 1:51:52
  Speaker 1: good question, but I don't really have a good answer.
• 1:52:03
  Speaker 1: Ask me that again. I'm not trying to ask for
• 1:52:05
  Speaker 1: more money. Just ask me that again. You know, in
• 1:52:10
  Speaker 1: a week where I'm a little bit more, have a
• 1:52:15
  Speaker 1: little bit more time to think about it. Let me
• 1:52:18
  Speaker 1: think about that and maybe even review the outline, because
• 1:52:22
  Speaker 1: right now I'm just a blank on what I did
• 1:52:24
  Speaker 1: there because it was so intense because they have to
• 1:52:26
  Speaker 1: do two court lasses in four days, you know, four
• 1:52:31
  Speaker 1: hours each day new material. I was preparing it early
• 1:52:35
  Speaker 1: in the morning. I was redoing everything. It was very, very,
• 1:52:39
  Speaker 1: very intense, and I've just blanked out of my mind.
• 1:52:41
  Speaker 1: So I have to review my outlines to give you
• 1:52:43
  Speaker 1: a good answer, Matt. Is your talk at the Jazz
• 1:52:48
  Speaker 1: Club going to be filmed? Very interesting in seeing that.
• 1:52:52
  Speaker 1: If so, what is the talk going to be focused on? Yes,
• 1:52:55
  Speaker 1: it is going to be taped. Now we'll see how
• 1:52:59
  Speaker 1: good the quality is. We're going to try to make
• 1:53:01
  Speaker 1: it high quality, but we'll see. And you know, what
• 1:53:08
  Speaker 1: do I focus on? I don't know. I mean, it's
• 1:53:10
  Speaker 1: I've got three more days. I'll let you know after
• 1:53:13
  Speaker 1: I do it what I focused on, But I haven't
• 1:53:15
  Speaker 1: prepared it yet. Cook. I hope you're right about Rogers
• 1:53:21
  Speaker 1: winning in Michigan. What sucks is the Congression of Republicans
• 1:53:25
  Speaker 1: deserve a severe butt kicking right now, Yes, they do.
• 1:53:28
  Speaker 1: The Republicans deserve to lose the Senate and lose the House. Absolutely,
• 1:53:33
  Speaker 1: particularly they deserve to lose the Senate given who they've
• 1:53:37
  Speaker 1: approved to serve in the Trump White House. But this
• 1:53:45
  Speaker 1: guy's beyond the pale. You can't vote for this guy.
• 1:53:48
  Speaker 1: The most he can do is not vote. But he
• 1:53:51
  Speaker 1: needs to be defeated. Democrats need to get a message.
• 1:53:55
  Speaker 1: Cook says. I'll add that watching Stevens debate, I'll say, yeah,
• 1:53:59
  Speaker 1: it was a good example of why principles matter. She
• 1:54:02
  Speaker 1: was absolutely pathetic in standing up to him. Yes, I
• 1:54:05
  Speaker 1: saw that I talked about in a previous episode I
• 1:54:08
  Speaker 1: did about him. He's more principled and that's why he
• 1:54:11
  Speaker 1: will win. And this is why the Socialists are going
• 1:54:15
  Speaker 1: to win the Democratic Party because they there more principled.
• 1:54:19
  Speaker 1: Regiev Hi, doctor Brook just wanted to thank you for
• 1:54:22
  Speaker 1: an incredible human being that you are. Thank you, Ajief.
• 1:54:25
  Speaker 1: Thanks a lot for your work and courage and conviction.
• 1:54:28
  Speaker 1: I appreciate that. Thank you, Ajief. Neo seems like even
• 1:54:33
  Speaker 1: Poland can't escape Islam internally. Apparently Kuta is heavily investing
• 1:54:38
  Speaker 1: internally and the Muslim population is growing. I'm surprised. I
• 1:54:42
  Speaker 1: thought Poland didn't allow immigration, so I don't know where
• 1:54:45
  Speaker 1: the Muslims are coming from. Again, it's gonna in Poland.
• 1:54:48
  Speaker 1: It's going to be such a small fraction of the
• 1:54:50
  Speaker 1: population it's insignificant. It's a bigger issue in place like
• 1:54:54
  Speaker 1: Fans and in the future potentially Spain and England, where
• 1:55:00
  Speaker 1: the fraction of the population is just larger. But no,
• 1:55:04
  Speaker 1: Poland has nothing to worry about, all right, freend Harbor
• 1:55:09
  Speaker 1: anti al Sayyad ads were so weak, so much to
• 1:55:13
  Speaker 1: slam him for. And the ADS went with he is
• 1:55:16
  Speaker 1: a known sexist, for saying Michelle Obama's work was uninspired
• 1:55:20
  Speaker 1: and saying Widimo was paid off. Go figure, he won. Yeah,
• 1:55:25
  Speaker 1: they were fai to criticize him for what. They didn't
• 1:55:28
  Speaker 1: want to criticize him being for anti Israel because they
• 1:55:31
  Speaker 1: still want to capture the anti Israel vote their fate.
• 1:55:35
  Speaker 1: Criticize him for Medicare for all because they kind of
• 1:55:37
  Speaker 1: agree for medicare for what. Are they going to criticize
• 1:55:40
  Speaker 1: him for una socialism? But they kind of socialist lights
• 1:55:44
  Speaker 1: and they're afraid of losing the socialist vote, So they
• 1:55:47
  Speaker 1: criticized him for his inexperience. Andrew el Sayad did really
• 1:55:54
  Speaker 1: well in an Arbor not surprising. It's a university town,
• 1:55:58
  Speaker 1: college town. Why does socialism continue to persists the ideal
• 1:56:02
  Speaker 1: of the educated youth because it's the only ideal they're
• 1:56:05
  Speaker 1: presented with as a visions, as something to strive. And
• 1:56:09
  Speaker 1: given that you're grown up in an altruistic culture, the
• 1:56:13
  Speaker 1: idealistic political expression of altruism is socialism. The idealistic expression
• 1:56:26
  Speaker 1: of and in politics of altruism is socialism. And these
• 1:56:34
  Speaker 1: kids want to be idealists and they're already altruistics. All right,
• 1:56:41
  Speaker 1: thank you, guys, I need to run. I really really
• 1:56:44
  Speaker 1: appreciate it. Thanks for joining me in this unusual hour.
• 1:56:49
  Speaker 1: I hope you enjoyed the show. I will see you tomorrow.
• 1:56:53
  Speaker 1: It'll be later tomorrow, so it won't be won't be
• 1:56:55
  Speaker 1: at this hour. It'll be later tomorrow, probably three pm,
• 1:56:58
  Speaker 1: maybe two pm. We'll see look forward to it and
• 1:57:02
  Speaker 1: I'll see you then. Have a great rest of your Wednesday.
• 1:57:07
  Speaker 1: Bye everybody. Mm hmm