Latest / The Matt Walsh Show / California is So Unlivable That Families Making 300K Are Getting Government Assistance

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California is So Unlivable That Families Making 300K Are Getting Government Assistance · The Matt Walsh Show

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  Speaker 1: Yeah, it wasn't too long ago, just about four years ago,
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  Speaker 1: in fact, that most employees at Microsoft thought they were untouchable.
• 1:00
  Speaker 1: They were working a dream job at one of the
• 1:02
  Speaker 1: biggest and most profitable tech companies on the planet. And
• 1:05
  Speaker 1: they probably assumed reasonably enough that they had some job security.
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  Speaker 1: In fact, employees of Microsoft were so thrilled by their
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  Speaker 1: good fortune that like so many other wealthy liberals, they
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  Speaker 1: felt a need to apologize for their success and a
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  Speaker 1: performative and totally meaningless fashion. To that end, Microsoft employees
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  Speaker 1: began opening their company meetings by paying homage to the
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  Speaker 1: various primitive tribes that used to exist on the land
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  Speaker 1: where Microsoft's campus is currently located. Now, as we all know,
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  Speaker 1: these primitive tribes did not create anything on the level
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  Speaker 1: of say Windows 95. They didn't even have Actual windows,
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  Speaker 1: as in the kind of windows that you open to
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  Speaker 1: let the light in. That was a level of technological
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  Speaker 1: advancement that exceeded their capabilities. They just opened the wood
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  Speaker 1: panels in their longhouses when things got too dark inside. Nevertheless,
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  Speaker 1: the good men, women, and non-binary folks at Microsoft apparently
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  Speaker 1: felt deeply indebted to these so-called indigenous tribes. So they
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  Speaker 1: put on performances like this one at major company events
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  Speaker 1: that were broadcast to millions of people.
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  Speaker 4: Hello and welcome to Microsoft Ignite. We've got a big
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  Speaker 4: day ahead and lots in store for you. First, we
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  Speaker 4: want to acknowledge that the land where the Microsoft campus
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  Speaker 4: is situated was traditionally occupied by the Sammamish, the Duwamish,
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  Speaker 4: the Snoqualmie, the Suquamish, the Muckleshoot, the Snohomish, the Tulalip,
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  Speaker 4: and other Coast Salish peoples since time immemorial. A people
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  Speaker 4: that are still here, continuing to honor and bring to
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  Speaker 4: light their ancient heritage. My name is Alison Wines. I'm
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  Speaker 4: a Senior Program Manager in our Developer Tools Division. I'm
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  Speaker 4: an Asian and white female with dark brown hair wearing
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  Speaker 4: a red sleeveless top.
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  Speaker 1: She even describes her appearance, you know, just in case
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  Speaker 1: any blind members of the Sammamish or Duwamish tribes happen
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  Speaker 1: to be listening. It's very thoughtful and inclusive, the kind
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  Speaker 1: of gesture you make when you have goodwill to spare.
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  Speaker 1: It's the corporate equivalent of throwing an extra 50 bucks
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  Speaker 1: in the collection basket because, you know, you've had a
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  Speaker 1: good year. For the 220,000 or so people who work
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  Speaker 1: at Microsoft, this was the company culture.
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  Speaker 2: And they had a good thing going. in some ways.
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  Speaker 1: Well, fast forward just a few years later and things
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  Speaker 1: have changed quite a bit. On Monday, Microsoft announced that
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  Speaker 1: they're offering buyouts to 60,000 of their 220,000 employees, more
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  Speaker 1: than a quarter of their global workforce. Yes, a quarter
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  Speaker 1: of Microsoft workforce just received an offer to leave the company.
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  Speaker 2: Now, if for some reason you still don't.
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  Speaker 1: Believe that AI is going to have massive and very
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  Speaker 1: rapid impact on the economy in a very short period
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  Speaker 1: of time, then this is a story you need to
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  Speaker 1: pay attention to.
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  Speaker 2: Watch.
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  Speaker 5: We also have some breaking news crossing the Bloomberg terminal.
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  Speaker 5: Microsoft is offering buyouts to 60,000 employees. Here with us
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  Speaker 5: for the story, Bloomberg's Brody Ford. Brody, what do we
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  Speaker 5: need to know?
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  Speaker 3: 60,000 is a lot of people, right? I mean, we've
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  Speaker 3: seen a lot of tech companies try to shed their workforce.
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  Speaker 3: the Metas, Googles, Microsofts of the world are betting that
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  Speaker 3: they can do more with less people with AI and
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  Speaker 3: their cashflow is strained from all this AI spending. And
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  Speaker 3: so this is the latest strategy Microsoft is taking to
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  Speaker 3: try to get some costs off his books.
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  Speaker 1: Now, when you look at the fine print, the deal
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  Speaker 1: gets even worse. Employees who accepted the buyout will receive
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  Speaker 1: Microsoft's standard severance package, including at least eight weeks of
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  Speaker 1: base pay with more based on tenure. So this is
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  Speaker 1: not exactly designed to be a tempting offer for most employees.
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  Speaker 1: Sometimes you hear about generous buyouts. Well, this is not
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  Speaker 1: one of them. If you accept the buyout, you're basically
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  Speaker 1: getting control over the precise timing of your layoff and
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  Speaker 1: that's it, nothing more. And in the process, you might
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  Speaker 1: be signing away your potential unemployment benefits, which is something
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  Speaker 1: you always need to keep in mind when you take
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  Speaker 1: a buyout. Now, admittedly, the timing advantage may end up
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  Speaker 1: being quite valuable for these employees. This is all voluntary
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  Speaker 1: for the moment, but obviously the company is looking to
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  Speaker 1: cut their costs dramatically. They clearly don't believe that these
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  Speaker 1: workers are essential and therefore these buyouts will almost certainly
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  Speaker 1: become layoffs before long. There are estimates right now that
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  Speaker 1: only around five to 10% of Microsoft's employees are expected
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  Speaker 1: to take this buyout. So it's probably not going to
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  Speaker 1: clear enough employees out. And employees at Microsoft seem to
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  Speaker 1: recognize that. But take this social media post, for example.
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  Speaker 1: It's from a Microsoft employee who just received the buyout,
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  Speaker 1: rather the offer in their email, which he believes is
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  Speaker 1: a sign that he's going to be laid off soon.
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  Speaker 1: So it's apparently only a certain number of employees got
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  Speaker 1: the email, even if they were eligible for the buyout.
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  Speaker 1: And here's what the employee wrote. Quote, I feel like,
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  Speaker 1: why the hell did I do so much hard work
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  Speaker 1: just to end up in this mess of a job
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  Speaker 1: market at a bloated company?
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  Speaker 2: I feel like I'm going to puke. My thought process is.
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  Speaker 1: Getting the email means you're on the layoff list. By
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  Speaker 1: hook or by crook, we will get rid of you.
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  Speaker 1: Thing is, I joined three months ago. I have very
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  Speaker 1: low knowledge about the code base. Guys, I feel desperate.
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  Speaker 1: What's next? I have three years of experience.
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  Speaker 2: That's it. No family business, six months of spending money,
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  Speaker 2: nothing more.
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  Speaker 1: Now, on the one hand, reading this, you've got to
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  Speaker 1: envy the guy for getting a buyout after spending three
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  Speaker 1: months at the company. Normally when you have only three
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  Speaker 1: months on the job, they just get rid of you
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  Speaker 1: without any severance.
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  Speaker 2: Package and that's it, see you later.
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  Speaker 1: But in general, this is a very sobering and common
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  Speaker 1: problem that young Americans have. And as they're getting laid off,
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  Speaker 1: they're noticing that H-1B visa holders, foreigners who Microsoft has
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  Speaker 1: brought to this country, aren't being impacted to any significant degree.
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  Speaker 1: In fact, Microsoft currently has thousands of listings for H-1B
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  Speaker 1: employees which at least in theory are supposed to be
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  Speaker 1: jobs that Americans can't fill. I saw this screenshot posted
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  Speaker 1: by an account on X, supposedly leaking some internal Microsoft
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  Speaker 1: communications following the big announcement on Monday. I haven't authenticated it,
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  Speaker 1: though I have no reason to doubt that it's real,
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  Speaker 1: but it really doesn't matter because the point is a
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  Speaker 1: good one. And the message reads, quote, if Microsoft is
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  Speaker 1: actively encouraging thousands of employees to leave, How should the
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  Speaker 1: public reconcile that with claims that the company needs foreign
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  Speaker 1: workers because it cannot find sufficient qualified talent in the
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  Speaker 1: United States? How can the company credibly maintain that it's
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  Speaker 1: not abused the labor certification process if it's simultaneously trying
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  Speaker 1: to reduce its existing workforce while asserting that it needs
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  Speaker 1: immigration sponsorship to fill talent shortages?
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  Speaker 2: Then there's a dismissive.
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  Speaker 1: HR lady reply that reads, I believe you still work
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  Speaker 1: with immigrant colleagues in your team. That's very interesting you
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  Speaker 1: posted such comment here. So basically, shut up and don't
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  Speaker 1: ask any questions. It'd be very racist to notice that
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  Speaker 1: at the precise moment Microsoft is planning to get rid
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  Speaker 1: of a large portion of its workforce, it's also claiming
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  Speaker 1: that it desperately needs to look overseas to find talent.
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  Speaker 1: Let's take a step back and pause to consider the
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  Speaker 1: implications here. Microsoft has never done a voluntary buyout on
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  Speaker 1: this scale before.
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  Speaker 2: Very few other companies have.
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  Speaker 1: It's reminiscent of GM's massive buyout in 2006 when around 35,000
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  Speaker 1: workers agreed to an early exit. And as far as
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  Speaker 1: I can tell, this is the single largest buyout since then. Overnight,
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  Speaker 1: one of the largest companies in the world, a place
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  Speaker 1: that many college students would kill to work for, just
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  Speaker 1: announced that it's happy to get rid of 25% of
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  Speaker 1: its workforce. They're exempting a small number of divisions, including cybersecurity,
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  Speaker 1: data centers, and marketing. But for the most part, except
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  Speaker 1: for the foreigners, everyone is potentially on the chopping block.
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  Speaker 1: Even vice presidents are getting these buyout offers. And we
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  Speaker 1: can only assume that the division in charge of land
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  Speaker 1: acknowledgements is maybe vulnerable as well, although maybe not.
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  Speaker 2: They're pretty essential.
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  Speaker 1: On some level, it might seem obvious what's going on here.
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  Speaker 1: It's the same reason that Meta cut 10% of their
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  Speaker 1: workforce earlier this year. It's why Oracle got rid of 21,000
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  Speaker 1: jobs or 13% of its workforce. It's why Amazon seems
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  Speaker 1: to announce new layoffs like every other day. And that
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  Speaker 1: is that AI has made most of these jobs redundant.
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  Speaker 1: You know, that's the conclusion that most people are drawing here,
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  Speaker 1: and it's probably correct to a certain degree. We also
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  Speaker 1: have to acknowledge another possibility, which I haven't seen many
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  Speaker 1: people point out, with the exception of a tech scientist.
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  Speaker 2: Named Brad Groh.
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  Speaker 1: It's very possible that Microsoft, like so many other AI companies,
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  Speaker 1: has realized it's spending a ton of money on AI
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  Speaker 1: without anything to show for it. AI is extremely expensive
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  Speaker 1: to maintain. You know, as Gro points out, Microsoft has
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  Speaker 1: hundreds of billions of dollars of debt on its books
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  Speaker 1: due to data center expansion. All of that new construction,
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  Speaker 1: which has caused a lot of backlash, which we've covered,
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  Speaker 1: isn't cheap. And it's also not cheap to have millions
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  Speaker 1: of people asking AI questions all day long when most
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  Speaker 1: of them are paying nothing at all or a relatively low.
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  Speaker 2: Monthly subscription fee.
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  Speaker 1: So it's quite possible that Microsoft, like other AI companies,
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  Speaker 1: including Anthropic, is burning through cash very quickly. And now
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  Speaker 1: they're panicking. And it's not just the big players. There's
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  Speaker 1: been a lot of investment in AI growth, including investments
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  Speaker 1: in smaller companies called neoclouds, which are starting to look
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  Speaker 1: dubious right now. And that could mean a much larger
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  Speaker 1: market correction is coming. And either way, from the perspective
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  Speaker 1: of young employees, the upshot is clear. Industries that seem
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  Speaker 1: to provide job security are now downsizing at a record pace.
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  Speaker 1: And even in the best case scenario, you have to
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  Speaker 1: wonder at a certain point, who's going to have any
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  Speaker 1: money to spend on all of these AI products if
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  Speaker 1: no one has a job? The reason that corporations like
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  Speaker 1: Microsoft are worth trillions of dollars is because they're supposed
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  Speaker 1: to generate a lot of future revenue, but it's not
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  Speaker 1: remotely clear right now who's going to be able to
• 11:36
  Speaker 1: afford whatever they're going to sell. Between work, errands, and family,
• 11:41
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• 11:43
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• 11:46
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  Speaker 1: And maybe no city in the country illustrates the coming
• 13:29
  Speaker 1: AI dystopia more than San Francisco or the Bay Area
• 13:33
  Speaker 1: in general, where so many of these big tech companies,
• 13:36
  Speaker 1: of course, are headquartered. And one of the reasons we
• 13:38
  Speaker 1: spent so much time talking about France last week is
• 13:40
  Speaker 1: that in many ways, France is a window into what
• 13:44
  Speaker 1: the United States could easily become if the socialists continue
• 13:48
  Speaker 1: to win elections here. France is a case study in how,
• 13:52
  Speaker 1: no matter how much government spending is provided, Socialists will
• 13:56
  Speaker 1: always demand more, no matter how high the taxes are.
• 13:59
  Speaker 1: They'll always demand more taxes. France is the number one
• 14:04
  Speaker 1: in the world when it comes to government spending, and
• 14:06
  Speaker 1: they're still pretending that the schools don't get enough money somehow.
• 14:09
  Speaker 1: And by the same token, San Francisco is an illustration
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  Speaker 1: of where the so-called AI boom could take.
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  Speaker 2: Us as a society.
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  Speaker 1: In terms of its GDP, the Bay Area is dominant.
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  Speaker 1: More wealth is generated every year in the Bay Area
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  Speaker 1: alone than in all of New England or.
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  Speaker 2: The Deep South.
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  Speaker 1: On a per capita basis, the Bay Area is wealthier
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  Speaker 1: than almost every petro state in the world, including Qatar.
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  Speaker 1: And in recent years, because so many AI companies based
• 14:36
  Speaker 1: in the Bay Area, both big and small, have been
• 14:38
  Speaker 1: going public with gigantic IPOs, these people have become wealthier
• 14:43
  Speaker 1: than ever before. San Francisco also has self-driving taxis. grocery
• 14:48
  Speaker 1: stores that automatically charge you for products you take off
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  Speaker 1: the shelf. They have robot coffee bars. So this is
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  Speaker 1: the epicenter of the AI revolution by any metric. And
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  Speaker 1: with that in mind, how are things going in San
• 15:03
  Speaker 1: Francisco specifically? Well, as it turns out, the left has
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  Speaker 1: created such an insane anti-human dystopia in San Francisco that
• 15:12
  Speaker 1: even people making a lot of money, hundreds of thousands
• 15:15
  Speaker 1: of dollars a year or more, apparently need government subsidies
• 15:20
  Speaker 1: to have kids, and they still aren't having them.
• 15:22
  Speaker 2: You know, they.
• 15:23
  Speaker 1: Have more dog daycares than actual daycares in the city.
• 15:27
  Speaker 1: The city is basically billionaires, multimillionaires, and homeless fentanyl addicts
• 15:32
  Speaker 1: at this point.
• 15:34
  Speaker 2: This is from the New York Times. It's an article
• 15:36
  Speaker 2: they published just a few days ago.
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  Speaker 1: It says, quote, San Francisco now offers free childcare to
• 15:41
  Speaker 1: families of four earning up to $ 235, 000 a year. including
• 15:47
  Speaker 1: John Marmon and Natsumi Makiyama. The city pays half the
• 15:52
  Speaker 1: cost of childcare for families making up to $ 325, 000 a year,
• 15:56
  Speaker 1: an eye-popping level that's more than 3.5 times the country's
• 15:59
  Speaker 1: median household income. Rents are higher in San Francisco than
• 16:03
  Speaker 1: in any other large city in the country, according to
• 16:06
  Speaker 1: Apartment List. The median rent for a two-bedroom apartment is
• 16:10
  Speaker 1: now $ 4, 640, the site said. The median cost of a
• 16:12
  Speaker 1: single-family home in the city tops $ 2 million, they figure
• 16:18
  Speaker 1: that these days would most likely buy a small basic
• 16:21
  Speaker 1: house in need of work.
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  Speaker 2: So you heard that correctly. The city of San Francisco.
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  Speaker 1: Will pay half the cost of childcare for families making
• 16:30
  Speaker 1: up to $ 325, 000 a year. I mean, that's a household
• 16:35
  Speaker 1: income that in virtually any other state would be pretty
• 16:40
  Speaker 1: comfortable at a minimum. But in San Francisco, making 325
• 16:45
  Speaker 1: grand a year, you're essentially on welfare. So let's break
• 16:51
  Speaker 1: this down and talk about how exactly this happens. And
• 16:55
  Speaker 1: we're still talking about this same couple, John Marmon and
• 16:59
  Speaker 1: the woman. Quote, each month, the couple pays $ 6, 400 for
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  Speaker 1: their home mortgage and $ 2, 200 for two car payments, car
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  Speaker 1: insurance and gas, since they're unable to reach their jobs
• 17:11
  Speaker 1: without their vehicles. Cell service and home wifi is another
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  Speaker 1: 300 bucks a month. They put a little each month
• 17:17
  Speaker 1: toward life insurance, their children's college accounts and retirement. They
• 17:21
  Speaker 1: spend more than $ 150 each week on groceries and have
• 17:24
  Speaker 1: become coupon clippers who try to make cartons of milk
• 17:28
  Speaker 1: last longer than they used to and who visit different
• 17:31
  Speaker 1: grocery stores on different days scouting for deals. I don't
• 17:35
  Speaker 1: want to say we're rationing, but we're definitely thinking about
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  Speaker 1: not using too much, Mr.
• 17:40
  Speaker 2: Marmon said. Every grain of rice is eaten. We make
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  Speaker 2: sure there's no food waste.
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  Speaker 1: I'm the designated garbage disposal for the kids' leftovers. I
• 17:50
  Speaker 1: like the idea that if you make 235 grand in
• 17:53
  Speaker 1: Alabama or something, then, you know, you don't have to
• 17:56
  Speaker 1: worry about all the rice here.
• 17:57
  Speaker 2: You can just leave rice all over the place.
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  Speaker 1: There's just piles and piles of untouched rice containers strewn
• 18:02
  Speaker 1: all about the upper class suburbs of the deep South.
• 18:05
  Speaker 1: But in San Francisco, every single grain of rice must
• 18:09
  Speaker 1: be consumed or else they'll starve. Now, to be clear,
• 18:14
  Speaker 1: this particular couple is not working in the AI industry.
• 18:16
  Speaker 1: One of them is a therapist and the other is
• 18:18
  Speaker 1: a pediatric nurse. So you might say, well, they're only
• 18:21
  Speaker 1: poor because they're not getting any of the AI money yet.
• 18:25
  Speaker 1: But the truth is, even people who have jobs in
• 18:27
  Speaker 1: the industry are complaining about the cost of living in
• 18:30
  Speaker 1: San Francisco. Quote, San Francisco is so pricey, even some
• 18:33
  Speaker 1: people working in the booming AI industry get city hall help.
• 18:38
  Speaker 1: Emma Hare, a legislative aide at city hall, and her husband,
• 18:41
  Speaker 1: who works at an AI startup related to robotics, bring
• 18:44
  Speaker 1: in just over $ 300, 000 per year and qualify for 50%
• 18:49
  Speaker 1: off their son's childcare.
• 18:50
  Speaker 4: Ms.
• 18:50
  Speaker 1: Hare's policy brain thinks about whether a city's role is
• 18:54
  Speaker 1: to help the median resident or have a really strong
• 18:57
  Speaker 1: social safety net for the poor, she said. Her mom
• 19:00
  Speaker 1: brain thinks about the opportunities her son will have growing
• 19:03
  Speaker 1: up in San Francisco, the parks, the museums, the culture,
• 19:06
  Speaker 1: the beauty, and has decided that daily stress is worth it.
• 19:11
  Speaker 1: You know, it reminds me of that meme, I love
• 19:13
  Speaker 1: New York, where, you know, where else in the world
• 19:15
  Speaker 1: can you get a sandwich? People living in these extremely
• 19:19
  Speaker 1: overpriced cities truly believe that, you know, like no other
• 19:23
  Speaker 1: place has parks or museums or culture or beauty. And
• 19:29
  Speaker 1: by the way, when they talk about culture in San Francisco,
• 19:33
  Speaker 1: what are they talking about? They're talking about gay pride
• 19:35
  Speaker 1: parades featuring children and, you know, weird dudes walking around,
• 19:41
  Speaker 1: full frontal nudity. I mean, they're talking about purchasing wombs,
• 19:45
  Speaker 1: defrauding investors, giving free needles to drug addicts. So to
• 19:50
  Speaker 1: the extent San Francisco has a unique culture, that's kind
• 19:53
  Speaker 1: of what it is.
• 19:54
  Speaker 2: It's not a very desirable culture, I would say.
• 19:57
  Speaker 1: But there's an amusing element in that paragraph where Emma Hare,
• 20:02
  Speaker 1: the legislative aide, wonders whether it's appropriate for her to
• 20:05
  Speaker 1: receive welfare when so many people are homeless and unemployed
• 20:09
  Speaker 1: in her city. Her policy brain has to really ponder
• 20:13
  Speaker 1: that question. But in the end, shockingly enough, she's happy
• 20:18
  Speaker 1: to take the money. All of the left-wing idealism and
• 20:21
  Speaker 1: all the concerns about wealth inequality and racial equity or
• 20:25
  Speaker 1: whatever suddenly go out the window when the government offers
• 20:28
  Speaker 1: to reduce your childcare bill by 50%. Even if you're
• 20:32
  Speaker 1: making $ 300, 000 a year, you'll take it. You know, the
• 20:36
  Speaker 1: fentanyl addicts can fend for themselves, I guess. How many
• 20:40
  Speaker 1: of those addicts have children, by the way? Is there
• 20:43
  Speaker 1: any universe in which Emma Hare needs this money more
• 20:46
  Speaker 1: than the children of homeless fentanyl addicts?
• 20:50
  Speaker 2: Well, maybe there is.
• 20:53
  Speaker 1: San Francisco, despite all of its wealth, is apparently the
• 20:55
  Speaker 1: kind of place where high net worth individuals need welfare.
• 20:59
  Speaker 1: And that's yet another clear sign, as if we needed it,
• 21:02
  Speaker 1: that the blue state model has totally failed. And this
• 21:08
  Speaker 1: is without even talking about the rest of California, which
• 21:11
  Speaker 1: is somehow in even worse shape, Los Angeles in particular.
• 21:16
  Speaker 1: Even the former communist countries behind the Iron Curtain, by
• 21:20
  Speaker 1: some metrics, are doing a lot better.
• 21:23
  Speaker 2: Now, yeah, they don't have anywhere near.
• 21:24
  Speaker 1: As much money, but on the bright side, the former
• 21:27
  Speaker 1: Eastern Bloc countries have a home ownership rate that sits
• 21:29
  Speaker 1: above 85%. Poland is around 87%. Romania is around 95%.
• 21:32
  Speaker 1: Hungary and Slovakia are over 90%, and the vast majority
• 21:40
  Speaker 1: of these homeowners have zero mortgage debt. Meanwhile, in San Francisco,
• 21:44
  Speaker 1: the homeownership rate is below 40%, and most of those
• 21:48
  Speaker 1: homeowners have massive debt, and they need welfare, apparently. In
• 21:53
  Speaker 1: terms of crime and violence, it's not even really a contest.
• 21:58
  Speaker 1: Warsaw and Prague are much safer than San Francisco, and
• 22:01
  Speaker 1: they're dramatically safer than some of the worst neighborhoods in
• 22:05
  Speaker 1: San Francisco, like the Tenderloin. The public schools are safer, too.
• 22:09
  Speaker 1: It's actually kind of remarkable when you think about it.
• 22:13
  Speaker 1: Whether they have money or not, leftists inevitably turn everything
• 22:16
  Speaker 1: they touch into a dystopia. I mean, France is poor.
• 22:20
  Speaker 1: Talked about that last week. It's a dystopia where everybody's
• 22:23
  Speaker 1: on welfare. San Francisco is rich, and it's still a
• 22:28
  Speaker 1: dystopia where everybody's on welfare. This is an ideology that's
• 22:32
  Speaker 1: incapable of producing an ideal outcome, no matter how many
• 22:36
  Speaker 1: resources you give them. We're seeing the same level of
• 22:39
  Speaker 1: dysfunction in every major American city, all of which are
• 22:43
  Speaker 1: run by the same political party. As the Wall Street
• 22:45
  Speaker 1: Journal reported recently, quote, the number of children under 18
• 22:49
  Speaker 1: living in big U.S. cities is down 6% in the
• 22:52
  Speaker 1: past decade compared with a 1% decline nationwide. The drop
• 22:56
  Speaker 1: is especially stark among families with little kids. The number
• 23:00
  Speaker 1: of children under age five in big cities fell 15%
• 23:04
  Speaker 1: compared with a drop of 7% nationwide. Even cities that
• 23:08
  Speaker 1: are gaining population are losing children. In all, the number
• 23:11
  Speaker 1: of children declined in about two-thirds of the 38 U.S.
• 23:14
  Speaker 1: cities with more than 500,000 residents. Now, the main self-reported
• 23:21
  Speaker 1: reason that this is happening, as you would expect, is
• 23:24
  Speaker 1: that people think it's too expensive to have kids. In
• 23:27
  Speaker 1: just the past decade, the percentage of Americans who say
• 23:29
  Speaker 1: that raising children is unaffordable has increased by 20%. When
• 23:35
  Speaker 1: the Times did another story on this crisis recently, they
• 23:37
  Speaker 1: found that adults in their 30s all had the same complaints. Quote,
• 23:41
  Speaker 1: nearly two dozen people in their early 30s said in
• 23:43
  Speaker 1: interviews that the image of adult life that they had
• 23:47
  Speaker 1: been promised turned out to be a sham. Many work
• 23:49
  Speaker 1: full-time and earn enough to cover the cost of basic groceries,
• 23:53
  Speaker 1: even if it means trips to three stores, but their
• 23:55
  Speaker 1: salaries are losing ground to inflation and their healthcare costs
• 23:59
  Speaker 1: are skyrocketing. They're cutting back on salon visits, social activities,
• 24:03
  Speaker 1: and Fresh fruit runs and they feel priced out of adulthood.
• 24:06
  Speaker 1: On Thursday, the long-running Harvard Youth Poll found for the
• 24:10
  Speaker 1: first time in its history that more young Americans expect
• 24:13
  Speaker 1: to fall behind rather than surpass their parents economically. Never
• 24:18
  Speaker 1: trust anybody over 30 was a rallying cry of the 60s.
• 24:22
  Speaker 1: The lead character of 13 going on 30 awoke to
• 24:25
  Speaker 1: a thriving career in a posh apartment. A pop star
• 24:28
  Speaker 1: even used 30 as a meditation on marriage and motherhood.
• 24:32
  Speaker 1: But so much about the lives of Americans has changed
• 24:35
  Speaker 1: during the last three decades. In 1990, a wedding at 26,
• 24:39
  Speaker 1: a baby shower two by 28, or a first home
• 24:42
  Speaker 1: around 30 was ordinary. But it's not ordinary anymore. And
• 24:46
  Speaker 1: the point here isn't to go into a digression about
• 24:48
  Speaker 1: birth rates. That's a topic for its own monologue. Suffice
• 24:52
  Speaker 1: it to say, the trends are very bad. And paying
• 24:57
  Speaker 1: people to have kids or giving them financial assistance when
• 25:00
  Speaker 1: they do so isn't really working. It doesn't work in
• 25:05
  Speaker 1: California or Hungary or anywhere else it's been tried. I've
• 25:09
  Speaker 1: worked on enough shows and books and films and other
• 25:12
  Speaker 1: projects to know that a good idea only gets you
• 25:14
  Speaker 1: so far. Eventually, someone has to make decisions, organize people,
• 25:18
  Speaker 1: solve problems, take responsibility when the original plan falls apart.
• 25:22
  Speaker 2: That's what leadership actually looks like.
• 25:24
  Speaker 1: And that's why Grand Canyon University's approach to business education
• 25:28
  Speaker 1: Makes a lot of sense to me. GCU treats leadership
• 25:31
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• 25:32
  Speaker 2: Rather than status.
• 25:33
  Speaker 1: That philosophy extends across more than 325 online academic programs
• 25:38
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  Speaker 1: education is outdated or irrelevant, but at Grand Canyon University,
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  Speaker 2: What if you could delay your next two mortgage payments?
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  Speaker 1: 4711 or visit americanfinancing.net slash Walsh. NMLS pound 182334, nmlsconsumeraccess.org,
• 27:24
  Speaker 1: visit americanfinancing.net slash Walsh or call 866-569-4711. Average savings based
• 27:31
  Speaker 1: on borrowers who save over 199.99. And we have to
• 27:35
  Speaker 1: be honest about the fact that as bad as these
• 27:38
  Speaker 1: trends are, AI is likely to make them substantially worse.
• 27:43
  Speaker 1: We're already well below replacement level. And if these layoffs continue,
• 27:48
  Speaker 1: we'll be close to an extinction level event within a century.
• 27:51
  Speaker 1: As even the New York Times has acknowledged, with birth
• 27:54
  Speaker 1: rates this low, the only way Democrats can remain in
• 27:58
  Speaker 1: power is to.
• 27:58
  Speaker 2: Import foreign voters. And that's, of course, exactly what they're doing.
• 28:03
  Speaker 1: Again, this is a quote from the New York Times,
• 28:04
  Speaker 1: which would call you racist for talking about demographic replacement,
• 28:08
  Speaker 1: even as they acknowledge that that's exactly what's happening. Quote,
• 28:13
  Speaker 1: the only three of these large states to have lost
• 28:15
  Speaker 1: population since 2020 are the three reliably blue states. The
• 28:19
  Speaker 1: two biggest red states, Texas and Florida, have experienced population surges.
• 28:24
  Speaker 1: It's almost entirely about domestic migration. About two and a
• 28:27
  Speaker 1: half million people in total left California, New York, and Illinois,
• 28:32
  Speaker 1: and nearly as many arrived from other states in Texas, Florida, Georgia,
• 28:35
  Speaker 1: and North Carolina. To provide more context, California and New
• 28:39
  Speaker 1: York over the past decade have both drawn people from
• 28:42
  Speaker 1: other countries and lost some of their residents to other states.
• 28:46
  Speaker 1: California and New York are the embodiment of the melting pot.
• 28:49
  Speaker 1: Younger people come from around the world and older people
• 28:52
  Speaker 1: leave for the rest of the country. Yes, younger people
• 28:56
  Speaker 1: come from around the world and older people leave for
• 29:00
  Speaker 1: the rest of the country. That's the model that Democrat-run
• 29:04
  Speaker 1: states are running with. And as you can see from
• 29:08
  Speaker 1: this chart, Now, that's exactly what's happening. The Republican states
• 29:12
  Speaker 1: like Georgia and Texas and Florida are the safe havens
• 29:16
  Speaker 1: for liberals fleeing states like New York and California. They're
• 29:20
  Speaker 1: deliberately driving out as many Americans as possible and replacing
• 29:24
  Speaker 1: them with foreigners who will vote Democrat in every election.
• 29:28
  Speaker 1: Everyone who remains, including both the foreigners and the diehard
• 29:31
  Speaker 1: leftists who are in love with San Francisco's culture or whatever,
• 29:35
  Speaker 1: is dependent on welfare to survive. And when people are
• 29:39
  Speaker 1: dependent on welfare, they're going to vote for the party
• 29:42
  Speaker 1: that keeps the welfare checks coming. Even leftists making $ 300, 000 a.
• 29:47
  Speaker 2: Year are happy to take a welfare check.
• 29:51
  Speaker 1: And indeed, it seems like the entire point of the
• 29:53
  Speaker 1: AI economy in the hands of leftists is to make
• 29:57
  Speaker 1: everyone as dependent on the government as these people are.
• 30:01
  Speaker 1: That's what they've done to their most loyal supporters in
• 30:03
  Speaker 1: San Francisco. It's what they're planning for every major city
• 30:07
  Speaker 1: in the country. In one week, there's a very real
• 30:11
  Speaker 1: chance that Democrats are going to get much closer to
• 30:15
  Speaker 1: realizing that goal. Now, it's not a foregone conclusion, and
• 30:20
  Speaker 1: the polls aren't always accurate. But at the moment, we've
• 30:24
  Speaker 1: got to be honest, they're all trending in the same direction.
• 30:26
  Speaker 1: And regardless, we just saw in Brazil, the left has
• 30:28
  Speaker 1: no problem stealing elections anyway.
• 30:30
  Speaker 2: We know that.
• 30:32
  Speaker 1: Given that we're on the verge of a major economic
• 30:34
  Speaker 1: disruption caused by AI, there's a real potential for Democrats
• 30:38
  Speaker 1: to use any political victory as an opportunity to remake
• 30:43
  Speaker 1: this country in ways most people can't even comprehend. And
• 30:48
  Speaker 1: on that note, next week, I'll be joining the other
• 30:50
  Speaker 1: Daily Wire hosts for election coverage on the Daily Wire
• 30:53
  Speaker 1: midterm hub. You can see maps, polls, forecasts, make predictions
• 30:57
  Speaker 1: all in one place. And you can join us for
• 31:00
  Speaker 1: live election coverage next Tuesday, starting at 7 p.m.
• 31:04
  Speaker 2: Central. And I hope we'll see you there. And that'll
• 31:08
  Speaker 2: do it for the show today. We'll talk to you tomorrow.
• 31:10
  Speaker 2: Have a great day. Godspeed.
• 31:51
  Speaker 3: Professor.
• 31:58
  Speaker 4: Let me out! You will remember your duty.
• 32:01
  Speaker 2: This isn't heroism!
• 32:03
  Speaker 3: You useless sod.
• 32:05
  Speaker 2: You sit there and shake because you're dependent on drink.
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  Speaker 3: You're sick as all over you. Have you ever seen
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  Speaker 3: a child starve to death, Professor?
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  Speaker 5: No.
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