Latest / Breaking Points with Krystal and Saagar / 6/2/26: Trump Says Everyone Hates Israel, Anthropic Pushes For IPO, Trump Hesitant On JD 2028

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6/2/26: Trump Says Everyone Hates Israel, Anthropic Pushes For IPO, Trump Hesitant On JD 2028 · Breaking Points with Krystal and Saagar

• 0:00
  Speaker 1: Hey guys, Saga and Crystal here.
• 0:01
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  Speaker 3: We need your help to build the future of independent
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  Speaker 3: news media and we hope to see you at Breakingpoints
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  Speaker 3: dot com. Good morning, everybody, Happy Tuesday. We have an
• 0:35
  Speaker 3: amazing show for everybody today, bro show people live for
• 0:39
  Speaker 3: the Pound. It's good to see you, Ryan Not. Thank
• 0:41
  Speaker 3: you very much for joining me here on this great Tuesday.
• 0:45
  Speaker 3: Oh my god, what a difficult job setting up the elements.
• 0:48
  Speaker 1: Iran. We're going to start with Iran.
• 0:50
  Speaker 3: An explosive alleged new phone call between Donald Trump and
• 0:54
  Speaker 3: bb Netanya who where he cusses him out and as
• 1:00
  Speaker 3: he say he cusses him out, he says, I saved you.
• 1:03
  Speaker 3: Everybody hates every rail all of this, Allegedly, what's you're doing? Yeah,
• 1:07
  Speaker 3: what the fuck are you doing? Allegedly Allegedly Netsan Yahoo
• 1:10
  Speaker 3: and his proxies are denying, and all of this, of course,
• 1:13
  Speaker 3: on the heels of this fire that from the Israeli
• 1:17
  Speaker 3: side onto Lebanon. After some Hezbola rockets over Israel, Trump says,
• 1:22
  Speaker 3: allegedly it's all over.
• 1:23
  Speaker 1: We'll see a little bit about that.
• 1:25
  Speaker 3: In terms of the ceasefire, we're going to talk about
• 1:27
  Speaker 3: AI anthropic filing for its IPO, their stocks skyrocketing, trullion dollars,
• 1:34
  Speaker 3: violet valuations, stock markets are literally at all time highs. Meanwhile,
• 1:38
  Speaker 3: the Florida Attorney General actually suing Open AI for harm
• 1:42
  Speaker 3: to children. And we're basically just going to spend some
• 1:45
  Speaker 3: time on this. The backbone of the entire US economy
• 1:48
  Speaker 3: is AI. I guess I hope it works out, and
• 1:50
  Speaker 3: I guess hope it doesn't work out.
• 1:52
  Speaker 1: Kind of screwed either way. I talk about JD. Vance.
• 1:56
  Speaker 3: There's a new New York Times story saying Trump is
• 1:58
  Speaker 3: hesitant on him being the twin twenty eight fund, the
• 2:01
  Speaker 3: front runner, asking and polling some people as Marco Rubio
• 2:05
  Speaker 3: stock apparently is rising behind the scenes. Dave Rubin, we
• 2:09
  Speaker 3: just we had to do it. I mean, you know,
• 2:10
  Speaker 3: we don't usually do these types of segment.
• 2:12
  Speaker 1: No, that's true, we do, but.
• 2:15
  Speaker 3: You know, you know he traveled to the Jubilee set,
• 2:19
  Speaker 3: he did surround it, and right before he went on
• 2:22
  Speaker 3: surrounded there was actually a mash up of all of
• 2:25
  Speaker 3: his failed predictions on the Iran War. And it's one
• 2:27
  Speaker 3: of the rare cases of these like twenty year olds
• 2:30
  Speaker 3: just absolutely schooling this dude to its face. It's just fun.
• 2:34
  Speaker 3: Let's all revel in it together.
• 2:36
  Speaker 1: That one.
• 2:36
  Speaker 3: And then finally David Dayan of the American Prospect, he
• 2:40
  Speaker 3: lives in California. He's going to join us actually here
• 2:43
  Speaker 3: in studio. We're going to break down the California Governor's
• 2:47
  Speaker 3: race and then the La Mayor's race, the two highest
• 2:50
  Speaker 3: profile races in the in their jungle primary system, which
• 2:54
  Speaker 3: starts today. But right I believe we're not going to
• 2:55
  Speaker 3: know the results for quite some time because of the
• 2:58
  Speaker 3: mail in ballots and the way that things get to ulator.
• 3:00
  Speaker 4: And we'll see and I'll prob Dane about some of
• 3:02
  Speaker 4: the key house races out there, which reminds me, are
• 3:05
  Speaker 4: there no House Republican contests other than Massy, I.
• 3:08
  Speaker 3: Can't think of one I haven't heard, which, well, there
• 3:10
  Speaker 3: are a few.
• 3:11
  Speaker 4: Like Democrats have a half dozen races around the country
• 3:14
  Speaker 4: and growing, like where there's a real contest, like for
• 3:17
  Speaker 4: the direction of the party.
• 3:18
  Speaker 1: It doesn't seem like that's happening now. It's all just
• 3:20
  Speaker 1: about Trump, I mean right now in terms of the
• 3:22
  Speaker 1: Trump endorsement. There's a few they'll vote with Trump. So
• 3:24
  Speaker 1: what's the.
• 3:25
  Speaker 3: Exactly, So there's there's really nothing to be said. Part
• 3:27
  Speaker 3: of why it's so boring and haven't even really spend
• 3:29
  Speaker 3: that much time on it. Thank you to everybody who
• 3:31
  Speaker 3: has been subscribing to the show Breakingpoints dot Com. This
• 3:34
  Speaker 3: is gonna be a big month for us. Yesterday it
• 3:36
  Speaker 3: was actually a five year anniversary.
• 3:37
  Speaker 1: We didn't even mention it.
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  Speaker 3: So here we go, five years here Breaking Points. Now
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  Speaker 3: But let's go ahead and start with the alleged A
• 4:00
  Speaker 3: big bust phone call is put up here on the
• 4:03
  Speaker 3: screen from Mark Kaputo and Barak Revid, the dynamic duo
• 4:07
  Speaker 3: over at Axios. What the fuck are you doing? Trump
• 4:10
  Speaker 3: lit into net YAHUU over the Lebanon bombing. You are
• 4:13
  Speaker 3: fucking crazy. You'd be in prison if it weren't for me.
• 4:16
  Speaker 3: I'm saving your ass. Everybody hates you now, everybody hates
• 4:21
  Speaker 3: Israel because of this. Now, Ryan, This allegedly happened in
• 4:26
  Speaker 3: a Trump net Yahoo phone call yesterday afternoon. Okay, it
• 4:30
  Speaker 3: came on the heels of that dramatic announcement from NETANYAHUO
• 4:33
  Speaker 3: that they will be expanding their operation in Lebanon to
• 4:38
  Speaker 3: include issuing an evacuation order in the Daia district of Beirut.
• 4:43
  Speaker 3: And so what it signaled was renewed im massive strikes
• 4:47
  Speaker 3: on the Lebanese capital, all in the midst of these
• 4:50
  Speaker 3: alleged ceasefire negotiations and things that had been happening. We
• 4:55
  Speaker 3: did report yesterday that there was some you know, ceasefire
• 4:58
  Speaker 3: talk and all of that going on. Trump by the way,
• 5:02
  Speaker 3: has now said that Hezbola has agreed. We'll get to
• 5:04
  Speaker 3: that here in a second, but let's sorrow the next
• 5:07
  Speaker 3: element up there on the screen, just to show you
• 5:11
  Speaker 3: what the reaction is like from Neo CON's here in Washington,
• 5:14
  Speaker 3: Mark Levin saying that the leak in Axios was a
• 5:18
  Speaker 3: violation of federal law and provided support to the Iranian
• 5:22
  Speaker 3: regime and it's Hezbola proxy. Whomever leaked that story to
• 5:25
  Speaker 3: barackravied at Axios did a great disservice to our country,
• 5:29
  Speaker 3: to our president, to Israel, to Israel's Prime minister. Wow,
• 5:31
  Speaker 3: to Israel's prime minister, it must be treasonis right. The
• 5:35
  Speaker 3: Iranian regime will benefit from that leak, viewing us as
• 5:38
  Speaker 3: weak desperate for a deal. Yes true, even coming to
• 5:41
  Speaker 3: Hesbola's defense. The Israeli people will be furious the missiles
• 5:44
  Speaker 3: are aimed at them, not Washington. For one hundred other reasons,
• 5:47
  Speaker 3: what was thought to be a devastating political hit in
• 5:49
  Speaker 3: that and Yahoo by the leakers about a private phone
• 5:51
  Speaker 3: call has done much damage to us in our military
• 5:54
  Speaker 3: and our diplomatic strategy. If the leakers or others believe
• 5:57
  Speaker 3: Israel should abandoned survival for some deal, they will have
• 6:00
  Speaker 3: a hard lesson to learn. If the substance of the
• 6:02
  Speaker 3: call is accurate, it is bad enough in my view,
• 6:05
  Speaker 3: you know, I mean, what I think is just really
• 6:07
  Speaker 3: shocking Ryan is in any way that this phone call
• 6:12
  Speaker 3: where he curses him out is indicative of real policy. Right.
• 6:16
  Speaker 3: We have seen this time and time and time again
• 6:19
  Speaker 3: from five American presidents now who curse Net and Yahoo
• 6:24
  Speaker 3: in private, sometimes even curse him in public. And yet
• 6:27
  Speaker 3: when it comes time for the dollars, for the bombs,
• 6:29
  Speaker 3: for the Iron Dome and for the fad Man, it
• 6:32
  Speaker 3: sure does seem like they get every single thing that
• 6:34
  Speaker 3: they want, doesn't it.
• 6:35
  Speaker 1: Yeah.
• 6:35
  Speaker 4: Right, We can talk about like how it happened, what
• 6:39
  Speaker 4: precise words he might have used, the severity of his anger,
• 6:44
  Speaker 4: the number of cuss words he threw at him, but
• 6:47
  Speaker 4: you're right, like what matters is what's on the ground,
• 6:50
  Speaker 4: and that is that Trump is still stuck in and
• 6:53
  Speaker 4: I hate the glaze, so Professor Pape, but stuck.
• 6:56
  Speaker 1: In that escalation trust right in there.
• 6:59
  Speaker 4: And okay, so you know, it does look like he
• 7:03
  Speaker 4: got him to not bombab route, yeah right now, which
• 7:07
  Speaker 4: you know probably saved hundreds of lives in the you know,
• 7:09
  Speaker 4: for the for now, for the New York term, they've
• 7:12
  Speaker 4: killed Israel has killed thousands of people in Lebanon, southern Lebanon.
• 7:17
  Speaker 4: They continue to encroach forward. They've pushed across the Latani
• 7:22
  Speaker 4: River at this point. And you know, the the agreement
• 7:26
  Speaker 4: that ya Who's saying he's reached is that okay, well,
• 7:29
  Speaker 4: we won't shoot at them as long as Hesbla doesn't
• 7:31
  Speaker 4: shoot inside Israel. What ya who seems be trying to
• 7:35
  Speaker 4: do is lock in the kind of territorial gains that
• 7:38
  Speaker 4: they have made to this point, to say like, okay,
• 7:41
  Speaker 4: now we're we're everywhere that we are. You can't shoot
• 7:44
  Speaker 4: your FPV drones at us anymore, you can't attack us.
• 7:46
  Speaker 1: We're just claiming all of this right.
• 7:48
  Speaker 4: And Hesbel is like no, no, no, no, no, here's an idea,
• 7:51
  Speaker 4: like leave Lebanon, Like go back to Israel. If you
• 7:54
  Speaker 4: don't want us to shoot at you in Lebanon, don't
• 7:57
  Speaker 4: be in Lebanon anymore. And they are taking significant casualties,
• 8:01
  Speaker 4: like yesterday they took that stupid Beaufort Crusader castle, or
• 8:06
  Speaker 4: they took it a couple of days ago. We cover that,
• 8:07
  Speaker 4: and then yesterday it looks like three Israelis were killed
• 8:12
  Speaker 4: with FPV drone attacks in that castle or right outside
• 8:16
  Speaker 4: of that castle. And according to my colleague Maz what
• 8:21
  Speaker 4: Hesblo was saying is that because Israel celebrated their conquest
• 8:26
  Speaker 4: of this crusader castle and put up videos, as was
• 8:29
  Speaker 4: able to study exactly where they were and just quickly
• 8:32
  Speaker 4: send a drone swarm and killed several of them. And
• 8:35
  Speaker 4: it's also a pointless fort to be holding.
• 8:38
  Speaker 3: Right, which Griffin told me. There's actually a film like
• 8:41
  Speaker 3: two thousand and seven about the futility of taking this
• 8:44
  Speaker 3: last time. It's almost like these religious crusader wars don't
• 8:51
  Speaker 3: usually have a point and don't particularly work out for anybody,
• 8:54
  Speaker 3: I guess for the people who will get a sequel film. Hopefully,
• 8:58
  Speaker 3: let's put this next one up here on the screen. Netanya,
• 9:01
  Speaker 3: who's proxy Amit Segal of Israel, says exclusive. According to
• 9:06
  Speaker 3: a very senior official on the PM's team, I wonder
• 9:09
  Speaker 3: who that is the late night NETANYAHUO call, the access
• 9:12
  Speaker 3: report is inaccurate. Trump did not make personal remarks about
• 9:16
  Speaker 3: jail or claim netnya who is hated globally. Instead, he
• 9:19
  Speaker 3: focused on the conflicting social media post, Trump felt Netnah
• 9:23
  Speaker 3: who implied that the war was continuing at full intensity,
• 9:26
  Speaker 3: while Netnaho felt Trump implied a total ceasefire. Trump did
• 9:29
  Speaker 3: note that defending Israel's global position is difficult and breeds hatred. Ultimately,
• 9:33
  Speaker 3: the call ended with an understanding Israel will hold off
• 9:36
  Speaker 3: on striking Beay Route as long as it's not attacked
• 9:38
  Speaker 3: within its own borders. So that last part actually makes
• 9:43
  Speaker 3: a lot of sense, because what Netanyah, who currently has
• 9:47
  Speaker 3: been trying to do is saying that every time Israelis
• 9:50
  Speaker 3: who are occupying southern Lebanon IDF soldiers get attack, that
• 9:53
  Speaker 3: is then itself a pretext. However, remember they are occupying
• 9:56
  Speaker 3: almost half of the entire country, not just occupying, saying
• 9:59
  Speaker 3: we're not leaving, like you.
• 10:00
  Speaker 1: Don't, can't, you can't be here, you have to you
• 10:02
  Speaker 1: have to leave, like.
• 10:04
  Speaker 3: Literally, I mean. The craziest thing I think you guys
• 10:06
  Speaker 3: reported this was when they were contacting uh what was it,
• 10:10
  Speaker 3: Sunni and Christian families and being like, hey, you've got
• 10:12
  Speaker 3: any Shia people?
• 10:13
  Speaker 1: They got it, Yeah, Christian villages right, going.
• 10:16
  Speaker 3: To the Christian villages with any Shia residents. They have
• 10:19
  Speaker 3: to go and if you shelter them, we're going to
• 10:20
  Speaker 3: kill you.
• 10:20
  Speaker 1: You're checking the addicts. Wow, yeah, it's like bro bro really.
• 10:23
  Speaker 3: Yeah, exactly, very right. Yeah, you can draw the historical
• 10:27
  Speaker 3: parallel there for yourself. Let's put a one up here
• 10:30
  Speaker 3: on the screen. This is Trump's readout of the call.
• 10:34
  Speaker 3: I had a very productive call with net Yahoo. There
• 10:36
  Speaker 3: will be no troops going to be rout. Any troops
• 10:39
  Speaker 3: that are on their way have already turned back, which
• 10:41
  Speaker 3: by the way, was a real breaking news because that's
• 10:44
  Speaker 3: not even originally what was being told. They said they
• 10:46
  Speaker 3: were going to bomb them. We didn't know that they
• 10:48
  Speaker 3: were going to bay Root. I mean they may be
• 10:50
  Speaker 3: though they may have actually been on their way. Likewise,
• 10:53
  Speaker 3: through highly placed representatives, I had a very good call
• 10:56
  Speaker 3: with Hesbola. They agreed that all shooting will stop, that
• 10:59
  Speaker 3: Israel would not attack them, and they will not attack Israel.
• 11:02
  Speaker 3: Remember Hesbela has already come out and said, no, that's
• 11:04
  Speaker 3: not true. We will definitely attack Israelis who are in Lebanon.
• 11:08
  Speaker 3: In terms of striking Israel, sure, if they don't hit
• 11:10
  Speaker 3: Daia in Beirut, then yeah, we won't hit them in Israel.
• 11:14
  Speaker 3: But in the interim war in Lebanon is still on.
• 11:18
  Speaker 3: Let's put a two up here on the screen, just
• 11:21
  Speaker 3: to show you some of the video.
• 11:23
  Speaker 1: Ryan.
• 11:24
  Speaker 3: It came out in the Lebanese city of Tire. I
• 11:26
  Speaker 3: apologize from saying these incorrectly. Several buildings, including a hospital,
• 11:31
  Speaker 3: was struck. I know there were multiple casualties that were reported.
• 11:36
  Speaker 3: So yeah, you can see. I mean, this was literally
• 11:38
  Speaker 3: just yesterday in terms of the Israeli strikes that were
• 11:42
  Speaker 3: on this city, allegedly again always a Hesbolah stronghold, So
• 11:47
  Speaker 3: you can see why in Lebanon you have already had what.
• 11:51
  Speaker 1: Hundreds of thousands of people displaced.
• 11:53
  Speaker 3: IDF soldiers occupying a significant part of the country, issuing
• 11:57
  Speaker 3: evacuation orders, which thousands actually abided by. In the Daiya
• 12:01
  Speaker 3: district of Beirut, they were like, okay, hey, we got
• 12:04
  Speaker 3: to go. They're about to level this place.
• 12:05
  Speaker 1: Now.
• 12:06
  Speaker 3: Trump did hold back on those strikes. However, we all
• 12:10
  Speaker 3: know it's just a matter of time before anything like
• 12:13
  Speaker 3: that happens. Again, let's put a three up here on
• 12:15
  Speaker 3: the screen. This seems to have been the precipitating event
• 12:18
  Speaker 3: behind Trump calling off the strikes and calling that in
• 12:21
  Speaker 3: Yahoo Iran had suspended all diplomatic communication and messages with
• 12:27
  Speaker 3: the US. According to Iranian state media. The decision was
• 12:30
  Speaker 3: reportedly due to Iranian opposition to the Israeli strikes against
• 12:34
  Speaker 3: Hezbola and so again to bring it back, I think
• 12:37
  Speaker 3: to Professor Pape's analysis here on the show. He said
• 12:42
  Speaker 3: two things. First, he has his framework of the escalation trap,
• 12:44
  Speaker 3: but the second was about how Iran has turned into
• 12:48
  Speaker 3: a world power. And what you have watched now is
• 12:50
  Speaker 3: this great strategic folly of Israel. Iran's leverage over the
• 12:53
  Speaker 3: straight of Horn moves and over the nuclear issue and
• 12:56
  Speaker 3: the ability to not surrender to the United States has
• 12:59
  Speaker 3: enabled them to use the straight of Horn moves and
• 13:03
  Speaker 3: diplomatic talks, which Trump desperately desperately wants as leverage to
• 13:07
  Speaker 3: obtain restraint on Israeli action in Lebanon. And so whenever
• 13:13
  Speaker 3: they say, hey, we're pulling out of the deal or
• 13:15
  Speaker 3: we're suspending all talks, if these strikes are going to continue,
• 13:18
  Speaker 3: Trump immediately has to pick up the phone and restrain Israel.
• 13:22
  Speaker 1: First of all, it shows why this is probably.
• 13:24
  Speaker 3: A doomed effort in the long run, because Israel is
• 13:26
  Speaker 3: there and constantly wants to be pushing these things. But
• 13:29
  Speaker 3: it demonstrates Irani and veto power. And this is really
• 13:32
  Speaker 3: what Mark Levin and others are freaking out about, is
• 13:34
  Speaker 3: that for them it's intolerable because they created this monster
• 13:38
  Speaker 3: with Iran able to shut the straight of horror moves,
• 13:41
  Speaker 3: able to have all this leverage in diplomatic talks while
• 13:44
  Speaker 3: also having literal Israeli action. Even yes, extreme Israeli action
• 13:48
  Speaker 3: be restrained. I'm not going to say they haven't won,
• 13:51
  Speaker 3: you know, in the near term with all their occupation.
• 13:53
  Speaker 3: But the fact that Iran has that ability literally to
• 13:56
  Speaker 3: just come in and say nope, if the entire thing
• 13:59
  Speaker 3: is off, if this can and use and then the
• 14:00
  Speaker 3: President has to pick up the phone and call them,
• 14:03
  Speaker 3: only demonstrates their power in these negotiations.
• 14:06
  Speaker 1: Yes, absolutely, that's the key point.
• 14:07
  Speaker 4: Iran said, as a result of all of these Israeli
• 14:11
  Speaker 4: attacks on Lebanon, we are cutting off contact with the
• 14:16
  Speaker 4: American mediators mediators between US and the United States, and
• 14:20
  Speaker 4: Trump immediately called immediately. Yes, that is the key point.
• 14:25
  Speaker 4: But Trump does not seem to want to take that
• 14:27
  Speaker 4: to the next step exactly, which is okay. If that
• 14:30
  Speaker 4: is genuinely the power relationship that exists here at this moment,
• 14:35
  Speaker 4: certainly given oil prices in the global economy like approaching
• 14:39
  Speaker 4: free fall, then I need to do something about this.
• 14:42
  Speaker 4: He gets that, but the something he just can't get
• 14:45
  Speaker 4: himself to it because there's just no way to thread
• 14:48
  Speaker 4: the needle of resolving this without it being utterly humiliating.
• 14:52
  Speaker 4: I mean I would, I would sign on to some
• 14:55
  Speaker 4: type of thing. I won't make fun of him for
• 14:58
  Speaker 4: two weeks a month, like what do you need a four?
• 15:02
  Speaker 3: Because this is where I really want your analysis, because
• 15:05
  Speaker 3: it's really complicated. Let's put a four up here on
• 15:08
  Speaker 3: the screen. The Lebanese Embassy issued a statement yesterday. They said,
• 15:11
  Speaker 3: with the framework of the efforts undertaken by the Lebanese
• 15:14
  Speaker 3: State to preserve stability and spare Lebanon following communication, et cetera,
• 15:17
  Speaker 3: under the proposed arrangement is really strikes on the southern
• 15:19
  Speaker 3: suburbs of Beirut sees in exchange for Hesbola refraining from
• 15:23
  Speaker 3: carrying attacks against Israel, with the scope of the ceasefire
• 15:25
  Speaker 3: subsequently being expanded to encompass the entirety of Lebanese territory.
• 15:30
  Speaker 3: So they're claiming that Hesbola has agreed not only to
• 15:34
  Speaker 3: cease attacks on Israel, but also to ceaze attacks on
• 15:38
  Speaker 3: all IDEA soldiers in Lebanese territory as a request of
• 15:42
  Speaker 3: the Lebanese government, which again is not Hasbola, but they're, you.
• 15:46
  Speaker 1: Know, have some sort of backchannel.
• 15:48
  Speaker 3: How much faith should we put into this, because again
• 15:50
  Speaker 3: Hesbola had denied at least some of this in part.
• 15:52
  Speaker 3: We don't know yet how much of it is true.
• 15:55
  Speaker 3: But could you explain those dynamics of Lebanese government Hesbola
• 15:58
  Speaker 3: the currency fire talks doesn't actually include. That's what's so confusing.
• 16:02
  Speaker 4: The key line here and the way it's phrased is
• 16:05
  Speaker 4: with this with the scope of the ceasefire subsequently being
• 16:09
  Speaker 4: expanded to encompass the entirety of Lebanese territory.
• 16:12
  Speaker 1: So what that means is it's going in phases.
• 16:15
  Speaker 4: So first Israeli strikes on Beirut have to stop, and
• 16:20
  Speaker 4: then has Blood strikes on Israel will have to stop.
• 16:23
  Speaker 4: Then some other things have to happen, and that that's
• 16:26
  Speaker 4: what's left unsaid in between the comma and the with here,
• 16:30
  Speaker 4: and then subsequently there would be a ceasefire across all
• 16:34
  Speaker 4: of Lebanon. So then that's where that's those are the
• 16:37
  Speaker 4: that's where the devil resides in between there.
• 16:40
  Speaker 1: What else?
• 16:41
  Speaker 4: What is Hesbela asking for a full agreement with Iran
• 16:45
  Speaker 4: and that includes Israeli withdrawal from Lebanon, which is Iran's demand,
• 16:49
  Speaker 4: in which case, subsequently not firing within Lebanese territory would
• 16:54
  Speaker 4: make sense because there would be no idea of troops
• 16:56
  Speaker 4: there they were through last time. Who's there's as what
• 17:02
  Speaker 4: was hoping that they will withdraw again? Israel's clearly doesn't
• 17:05
  Speaker 4: have any intention of doing so. So this isn't This
• 17:09
  Speaker 4: is a very difficult like different two bridge here.
• 17:13
  Speaker 3: Yeah, and let's put a five up there on the screen.
• 17:15
  Speaker 3: Immediately after his Netnya who call leaked Trump truths. Talks
• 17:19
  Speaker 3: are continuing at a rapid pace with the Islamic Republic
• 17:22
  Speaker 3: of Iran. Thank you for your attention to this matter.
• 17:25
  Speaker 3: And so look, all of this was market related because
• 17:28
  Speaker 3: what happened is Nettagna, who, as we covered yesterday, announced
• 17:32
  Speaker 3: we're going to strike Beirut, and immediately you had Iran
• 17:36
  Speaker 3: cut off talks. So oil and then oh right, that's right.
• 17:41
  Speaker 3: They also threatened the bob Am Mendeth straight. Trump picks
• 17:43
  Speaker 3: up the phone, but in the meantime, Brent crude surges
• 17:46
  Speaker 3: by eight percent. Stock futures drop after the Trump phone
• 17:50
  Speaker 3: call with Netanya, who leaks and his truth social post
• 17:53
  Speaker 3: is goes up. Then the stock features went up, and
• 17:56
  Speaker 3: I believe some oil went down.
• 17:57
  Speaker 1: But let's not forget.
• 17:58
  Speaker 3: I mean, what's the Brent crude are currently at, let's
• 18:01
  Speaker 3: six ninety three dollars un barron, so it's still high.
• 18:05
  Speaker 3: And if I were to look at gas prices nationally,
• 18:08
  Speaker 3: it's still forty twenty nine a gallon, and diesel still
• 18:11
  Speaker 3: sitting around four five forty three a gallon, which is
• 18:15
  Speaker 3: only forty cents or so off of the all time
• 18:17
  Speaker 3: high back in twenty twenty two. All of this together,
• 18:20
  Speaker 3: it's not like anything is really happening.
• 18:22
  Speaker 1: I mean, and this last inventories and strategic reserves like depleted.
• 18:27
  Speaker 3: Yeah, yesterday, I believe that the SPR will reach its
• 18:32
  Speaker 3: lowest level ever by next week. Total oil inventory is
• 18:37
  Speaker 3: near record lows. All that we were going to cover this. Yesterday,
• 18:41
  Speaker 3: the Chevron CEO was talking about how it's basically inevitable
• 18:45
  Speaker 3: for oil to go to one hundred and forty one
• 18:47
  Speaker 3: hundred and fifty a barrel, which to translate into gas terms,
• 18:50
  Speaker 3: is roughly six dollars a gallon, simply because he's like.
• 18:53
  Speaker 1: Look, we don't have any more oil. We don't have oil.
• 18:55
  Speaker 3: It's like yeah, it's like because somebody's gonna have to
• 18:58
  Speaker 3: pay for it. It's a global commodity straits closed Japan Korea.
• 19:02
  Speaker 3: You have multiple months now, where you know, it takes
• 19:04
  Speaker 3: a long time for these tankers to move across the ocean.
• 19:06
  Speaker 3: So a lot of the orders placed in the middle
• 19:08
  Speaker 3: of the war, some of them are already just now
• 19:11
  Speaker 3: either arriving here or are on their way to their
• 19:15
  Speaker 3: current destination. And you know, it takes a while for
• 19:17
  Speaker 3: all of this stuff too empty. But the bills come
• 19:19
  Speaker 3: and do and I mean basically already to gassid four
• 19:22
  Speaker 3: twenty nine a gallon. Let's go to a six here
• 19:26
  Speaker 3: from Trump. This was also his immediate reaction, by the way,
• 19:30
  Speaker 3: just to show you how flailing this entire thing, when
• 19:33
  Speaker 3: the news initially broke that Iran was going to cut
• 19:37
  Speaker 3: off talks, he told this to an NBC News reporter,
• 19:40
  Speaker 3: I think we've been talking too much. If you want
• 19:42
  Speaker 3: to know the truth, I think going silent would be
• 19:45
  Speaker 3: very good, and that could be for a long time.
• 19:48
  Speaker 3: It doesn't mean we're going to go and start dropping
• 19:49
  Speaker 3: bombs all there. We will just go silent. We'll keep
• 19:52
  Speaker 3: the blockade. Blockade is a piece of steel. I think
• 19:55
  Speaker 3: I can wait as long as they want. They're losing
• 19:57
  Speaker 3: a fortune the art of the deal author he said,
• 19:59
  Speaker 3: all seem to have been some grudging respect for negotiators.
• 20:03
  Speaker 3: When I first asked about reports are suspending talks. Quote,
• 20:05
  Speaker 3: it's an appropriate thing to say, because they're better negotiators
• 20:08
  Speaker 3: than they are fighters, you know. I mean Trump is.
• 20:13
  Speaker 1: Pretty good fighters too, apparently, Yeah, not bad.
• 20:17
  Speaker 3: I think what they are seeing is the futility of
• 20:21
  Speaker 3: this Gordian knot that they are in. He can either
• 20:23
  Speaker 3: buckle or he can escalate, and that's the escalation trap. Ultimately,
• 20:27
  Speaker 3: in the meantime, they're trying to have everything half assed,
• 20:31
  Speaker 3: and even just with Israel, can we all ruminate for
• 20:33
  Speaker 3: a second that, you know, the Titanic phone call is over.
• 20:37
  Speaker 3: It's really strikes on Beirute, not the occupation of half
• 20:42
  Speaker 3: of the country, which they claim will never be given
• 20:45
  Speaker 3: back to the residents ever.
• 20:47
  Speaker 1: Again, they literally say it. They like, what do they say.
• 20:50
  Speaker 3: About Lebanon, Southern Lebanon, They're like, you will never return.
• 20:54
  Speaker 1: You will literally never. Really, they just say it out loud.
• 20:56
  Speaker 1: And that's the ceasefire position.
• 20:58
  Speaker 3: If anything. By the way, that Hasbola Iran and all
• 21:00
  Speaker 3: of them not willing to fight while half of their
• 21:03
  Speaker 3: country is occupied. Is nuts, I mean from their perspective.
• 21:06
  Speaker 4: And it's also crazy that the sticking point between two countries,
• 21:10
  Speaker 4: the United States and Iran when it comes to reaching
• 21:13
  Speaker 4: a deal is what Israel wants to do in Lebanon. Like,
• 21:18
  Speaker 4: if you just came to this cold you'd be like, well,
• 21:20
  Speaker 4: that sounds like a separate thing, because the war is
• 21:23
  Speaker 4: between the United States and Iran as far as we're told,
• 21:27
  Speaker 4: and it's like anti Semitic to say anything else. So
• 21:30
  Speaker 4: then why is it being hung up by this other
• 21:33
  Speaker 4: conflict that doesn't have anything to do with us.
• 21:35
  Speaker 3: Yeah, if you were to say, hey, we could all
• 21:38
  Speaker 3: pay lesson gas and we can negotiate bilaterally tomorrow. But
• 21:42
  Speaker 3: Israel just has to withdraw from a country which is
• 21:44
  Speaker 3: literally not theirs, everyone would be like, oh, okay, cool.
• 21:48
  Speaker 3: The only people who wouldn't sign that deal are the Israelis, right,
• 21:51
  Speaker 3: who intolerable.
• 21:53
  Speaker 1: Yeah, we're like, okay, cool, Yeah we should still reach
• 21:55
  Speaker 1: a deal with Iran.
• 21:56
  Speaker 3: Yeah, we could just reach a deal with Iran. You
• 21:58
  Speaker 3: guys just have to leave Lebanon On. You know, it
• 22:00
  Speaker 3: sucks for you if Iron is not really a problem,
• 22:04
  Speaker 3: right exactly, But ultimately that's why maybe we can edit
• 22:09
  Speaker 3: this in posts. I've just been thinking about this all day,
• 22:11
  Speaker 3: so one of my friends sent it to me. This
• 22:13
  Speaker 3: is the mindset of Mark Levin, who basically is a
• 22:16
  Speaker 3: traitor to the United States for doing something like this.
• 22:18
  Speaker 3: We will soon celebrate the two hundred and fiftieth anniversary
• 22:21
  Speaker 3: of the Declaration of Independence.
• 22:22
  Speaker 1: We're off to a good start.
• 22:23
  Speaker 3: Ryan. The declaration was in essence of declaration of war
• 22:26
  Speaker 3: against the most powerful military force on earth, the British Empire.
• 22:29
  Speaker 3: He ruminates on the patriotism. Every delegate who signed that
• 22:32
  Speaker 3: document had signed their own death warrant.
• 22:34
  Speaker 1: Here's where it gets good.
• 22:35
  Speaker 3: Let us remember this when we listen to the debates
• 22:38
  Speaker 3: about whether or not we should defeat the Iranian regime.
• 22:42
  Speaker 3: So we have a full paragraph here which is all
• 22:45
  Speaker 3: about the courage of the American Revolution and how much
• 22:49
  Speaker 3: everything was on the line. And now he goes all
• 22:52
  Speaker 3: the arguments and even excuses against it, despite forty seven
• 22:55
  Speaker 3: years of its killing, maiming thousands of our fellow countrymen,
• 22:58
  Speaker 3: forty seven years of lies and deceit, decades of developing
• 23:01
  Speaker 3: nuclear and missile technology to obliterate our nation in a
• 23:03
  Speaker 3: far more dangerous and dietrabolical ideological agenda than that of
• 23:07
  Speaker 3: the British monarchy. Yet George Washington and the brave founders
• 23:11
  Speaker 3: of our country personally risked everything. Ultimately, the British forces surrenders,
• 23:16
  Speaker 3: the Iranian regime will never surrender. They will never abide
• 23:19
  Speaker 3: by a deal any more than they have abided by
• 23:20
  Speaker 3: a ceasefire. I am mindful only thirty five percent of
• 23:23
  Speaker 3: colonists supported to war with Britain. My view maybe similarly
• 23:27
  Speaker 3: be a minority view today, I hope not. But if
• 23:29
  Speaker 3: it is so, be it so. He links the pluckiness
• 23:34
  Speaker 3: and the courage of the founders of the American Revolution
• 23:37
  Speaker 3: to his support for the war with Iran, which he
• 23:40
  Speaker 3: now says is unpopular by his own view, but is
• 23:43
  Speaker 3: as just of a cause as the American founding was.
• 23:47
  Speaker 3: Imagine the psychology of that.
• 23:49
  Speaker 4: The irony, of course, which I bet a bunch of
• 23:50
  Speaker 4: viewers have picked up on is that the Iranian revolutionaries
• 23:54
  Speaker 4: were inspired by the American revolutionaries. We both threw off
• 23:57
  Speaker 4: the British, like the Iranians threw off the British, like
• 24:01
  Speaker 4: the Shah was an American and British puppet.
• 24:03
  Speaker 1: Like we installed the Shah.
• 24:05
  Speaker 4: Because because Iran had nationalized British petroleum, British Oil Company,
• 24:13
  Speaker 4: and the Brits wanted us to take it back for them,
• 24:16
  Speaker 4: and so then the run threw them back.
• 24:18
  Speaker 1: I don't even know why we.
• 24:19
  Speaker 3: Did it when retrospect, when you read it, you're like,
• 24:20
  Speaker 3: why do we do this?
• 24:21
  Speaker 4: Why do we They were they wanted to be our allies?
• 24:24
  Speaker 4: They were they were they were democratic government. They just
• 24:28
  Speaker 4: wanted like control over their oil resources, which is a completely.
• 24:32
  Speaker 1: Musical thing to one.
• 24:34
  Speaker 3: And we're not talking about nineteen twelve or where in
• 24:37
  Speaker 3: the British Empires at its peak. We're talking about nineteen
• 24:39
  Speaker 3: fifty five.
• 24:39
  Speaker 1: They were already they were on their way out. Why
• 24:43
  Speaker 1: are we fighting with these people?
• 24:44
  Speaker 4: Yeah, so, yes, there are parallels to the American Revolution
• 24:49
  Speaker 4: and the overthrow of the British monarchy, but it doesn't
• 24:52
  Speaker 4: go in the direction that.
• 24:53
  Speaker 3: It's just I mean reading this and seeing I mean,
• 24:57
  Speaker 3: you could only read this and say and to compare
• 25:00
  Speaker 3: support for the American Revolution to support for war with Iran,
• 25:03
  Speaker 3: which is existential in no way whatsoever for the United States,
• 25:05
  Speaker 3: but is existential for one country to Israel, you should ask, okay,
• 25:09
  Speaker 3: who are you loyal to? Literally, Like, if you believe
• 25:11
  Speaker 3: that it's so existential, then that means that you seem
• 25:14
  Speaker 3: to be much more loyal to Israel than to the
• 25:16
  Speaker 3: United States, because you know what's more existential to the US.
• 25:19
  Speaker 1: Oh, I don't know.
• 25:20
  Speaker 3: Six dollars a gallon gasoline, which, by the way, he
• 25:22
  Speaker 3: even says is not that big of a deal. So yeah,
• 25:24
  Speaker 3: he's willing to sacrifice all of you, you know, for
• 25:28
  Speaker 3: his war and to try and tell you that you're
• 25:31
  Speaker 3: just like George Washington if you support it. That's the level.
• 25:35
  Speaker 3: Though in some ways it's good. If that's how reductive
• 25:38
  Speaker 3: the propaganda has gotten, then it shows how untenable support
• 25:42
  Speaker 3: the war is for itself, because this is what the
• 25:45
  Speaker 3: Iraq War was like.
• 25:45
  Speaker 1: And I remember it well.
• 25:46
  Speaker 4: As the founding father said, we must always go in
• 25:49
  Speaker 4: search of the monsters to destroy it.
• 25:51
  Speaker 1: I think that's what it says.
• 25:52
  Speaker 3: Yeah, George Washington famously in his farewell address, said we
• 25:56
  Speaker 3: must go abroad in search of monsters. So Well said,
• 26:03
  Speaker 3: all right, let's get to AI. Turning now to AI.
• 26:09
  Speaker 3: Huge news in the markets. Let's put this up here
• 26:11
  Speaker 3: on the screen. Anthropic has filed to go public in
• 26:14
  Speaker 3: a blockbuster year for IPOs. The filing could put the
• 26:18
  Speaker 3: company behind behind Claude on a path to go public
• 26:22
  Speaker 3: this year. They currently, I believe, have just raised a Series.
• 26:26
  Speaker 1: H which I didn't even know was possible.
• 26:28
  Speaker 3: Yeah, I'm like abcd fgh okay. So there's eight rounds
• 26:33
  Speaker 3: of funding, valuing their company in nearly one trillion dollars.
• 26:37
  Speaker 3: It also comes on the heels of Samalman Open Ai,
• 26:42
  Speaker 3: open Ai wanting to IPO, and also SpaceX, which, by
• 26:46
  Speaker 3: the way, SpaceX we know as a rocket company, but
• 26:49
  Speaker 3: whose current deals that they're inking with Anthropic and others
• 26:53
  Speaker 3: are mostly behind compute and creating companies which would be
• 26:57
  Speaker 3: able to have chip infrastructure, and there's cloud storage, et
• 27:01
  Speaker 3: cetera for AI. So AI is at the backbone of
• 27:04
  Speaker 3: all of these different things. And I think what is
• 27:07
  Speaker 3: crazy about it is I've really been thinking a lot
• 27:09
  Speaker 3: about what Derek Thompson said when he was here on
• 27:12
  Speaker 3: our show. Is that the simultaneous IPO of anthropic SpaceX
• 27:17
  Speaker 3: and Open AI, all in the same year, will create
• 27:20
  Speaker 3: more billionaires in a single year than at any time
• 27:23
  Speaker 3: in history, and the distorting effect in modern history too.
• 27:27
  Speaker 3: We will have literally hundreds of people worth I mean
• 27:30
  Speaker 3: a collective, you know, several trillion dollars, very likely just
• 27:35
  Speaker 3: based on their stock valuations. What is that going to
• 27:37
  Speaker 3: do to our society? First of all, in San Francisco, Yeah,
• 27:41
  Speaker 3: you're never buying a home unless you're like, if you're
• 27:44
  Speaker 3: worth a measly ten million, brother, you bet you getting
• 27:46
  Speaker 3: asked to Marin County or something like that. Yeah, right,
• 27:49
  Speaker 3: you're driving, You're driving two hours over the bridge. Yeah
• 27:53
  Speaker 3: that's right. Yeah, Sorry, I'm probably wrong. I think Marin
• 27:55
  Speaker 3: is actually really nice, but I was just coming. This
• 27:57
  Speaker 3: is my limited knowledge of northern California. It's the most
• 28:00
  Speaker 3: coacular place. Okay, how about Oakland. Yeah, it's like you're
• 28:02
  Speaker 3: living in a slum in Oakland. If you're worth a
• 28:05
  Speaker 3: mere ten million dollars, you will never buy a house
• 28:08
  Speaker 3: in San Francisco.
• 28:08
  Speaker 1: That's number one.
• 28:09
  Speaker 3: Number two, the state of California and its politics will
• 28:13
  Speaker 3: become even more billionaire influenced than at any time. The
• 28:17
  Speaker 3: number of all in podcasts copies is skyris is going
• 28:22
  Speaker 3: to skyrocket.
• 28:23
  Speaker 1: The number mon what is that number of AI Twitter posts?
• 28:27
  Speaker 3: Oh my god, Lake Tahoe. Yeah, it might forget about
• 28:30
  Speaker 3: it all right, it's just going to turn into you know,
• 28:32
  Speaker 3: even more of a billionaire playground. But to be actually serious,
• 28:36
  Speaker 3: what he was pointing out was the distortionary impact that
• 28:40
  Speaker 3: that will have on politics and political spending will be immense,
• 28:44
  Speaker 3: I mean, almost undescribable. And one of the things that
• 28:47
  Speaker 3: makes that really dangerous is that all of these people,
• 28:50
  Speaker 3: all of these people will have their wealth directly tied
• 28:54
  Speaker 3: into these AI companies and they will need it to function,
• 28:57
  Speaker 3: which means a couple of things.
• 28:59
  Speaker 1: Number one is it will become too.
• 29:00
  Speaker 3: Big to fail. It probably already is, which we'll get
• 29:02
  Speaker 3: into in a little bit, requiring government bailouts and you know,
• 29:06
  Speaker 3: all kinds of stock manipulation or regulation incentive to keep
• 29:10
  Speaker 3: the companies at the valuations their need because it's just
• 29:13
  Speaker 3: too much money being slashed around. But the second thing
• 29:16
  Speaker 3: on that is then it fuses you know, their political
• 29:20
  Speaker 3: power with this technological power and genuinely, you know, sets
• 29:24
  Speaker 3: the ground. I don't want to be hyperbolic, but for
• 29:26
  Speaker 3: like genuine techno feudalism like that, that's where things currently
• 29:29
  Speaker 3: seem to be going.
• 29:30
  Speaker 4: Yeah, We've talked before about the variations in public attitudes
• 29:36
  Speaker 4: in China versus here when it comes to the advent
• 29:39
  Speaker 4: of AI, and in China people generally have much less
• 29:44
  Speaker 4: anxiety about it and feel like it's going to be deployed,
• 29:47
  Speaker 4: you know, responsibly.
• 29:49
  Speaker 1: Here in the United States, people feel the opposite.
• 29:52
  Speaker 4: That it's going to lead to enormous numbers of job
• 29:56
  Speaker 4: losses and yawning inequality and just produce a whole bunch
• 29:59
  Speaker 4: of new billionaires and make life much more miserable. And
• 30:03
  Speaker 4: none of this, you know, none of this I think
• 30:07
  Speaker 4: is going to disabuse people of that feeling. The only
• 30:09
  Speaker 4: possibility that I can think of, well two possibilities. One
• 30:11
  Speaker 4: is what we'll talk about later with Bernie, and two
• 30:14
  Speaker 4: would be that it runs into a wall of like arithmetic,
• 30:18
  Speaker 4: and that it just they just can't compete with the
• 30:21
  Speaker 4: Chinese products because because they are their valuation is built
• 30:25
  Speaker 4: on the idea that they are selling something of serious value.
• 30:30
  Speaker 4: The Chinese are basically giving it away, and maybe some
• 30:35
  Speaker 4: of the US ones are a little bit better. But
• 30:36
  Speaker 4: if it's free versus like super expensive and a little
• 30:41
  Speaker 4: bit better, you're gonna go with the free ones.
• 30:42
  Speaker 1: It's possible.
• 30:43
  Speaker 3: Yeah, I mean, this is kind of like the Apple
• 30:44
  Speaker 3: Microsoft debait.
• 30:45
  Speaker 4: Obviously, both Anthropical and Tropics said recently that you know,
• 30:48
  Speaker 4: they're really losing a lot of market share to Gemini
• 30:51
  Speaker 4: among the public, and it feels to me like it's
• 30:54
  Speaker 4: becoming similar to how a lot of kind of you know,
• 30:59
  Speaker 4: if you have a master degree or something, you have
• 31:00
  Speaker 4: an iPhone, but most normal people have an Android.
• 31:04
  Speaker 1: Is that true? I didn't know that.
• 31:06
  Speaker 3: I mean I've looked at it. I think it's like
• 31:08
  Speaker 3: forty to fifty or something like.
• 31:09
  Speaker 4: Yeah, for a very long time, like the androids that
• 31:13
  Speaker 4: regular person.
• 31:15
  Speaker 1: So they're they're but they're spreading out a little bit.
• 31:17
  Speaker 4: It's becoming normal people are using Gemini because it's it's
• 31:20
  Speaker 4: there right in front of them.
• 31:22
  Speaker 1: It's just right there. Probably already have a Gmail account,
• 31:24
  Speaker 1: right and it's free to start and like. And so.
• 31:28
  Speaker 4: That is going to really hurt because Claude can't be
• 31:31
  Speaker 4: a trillion dollar company unless it's you know, unless you
• 31:34
  Speaker 4: completely block the Chinese from competing.
• 31:38
  Speaker 1: Just difficult to do, but maybe they can.
• 31:40
  Speaker 4: Pull it off, and it's somehow not a mass consumer
• 31:44
  Speaker 4: product because it has competition.
• 31:46
  Speaker 3: I think their selling point is about the frontier model,
• 31:49
  Speaker 3: you know, with their ability to sell to these enterprise
• 31:51
  Speaker 3: because that's where they make up.
• 31:52
  Speaker 4: They should just say, our our business models. We're going
• 31:54
  Speaker 4: to hack the federal reserves steal all the money.
• 31:56
  Speaker 3: Did you see that?
• 31:57
  Speaker 1: What was it?
• 31:57
  Speaker 3: Some company forgot to set spending limits, spent half a
• 32:00
  Speaker 3: billion dollars in a single month on claude. So that's
• 32:05
  Speaker 3: what this shows you a little bit about how they're
• 32:08
  Speaker 3: making money. I am interested. Also, let's put B two
• 32:10
  Speaker 3: up here on the screen, just to highlight again how
• 32:13
  Speaker 3: look we're all in, like we're beyond all in. So
• 32:16
  Speaker 3: April and May of twenty twenty six is one of
• 32:19
  Speaker 3: the best two month Bowl runs in the history of
• 32:22
  Speaker 3: Wall Streets. So they show here that you have got
• 32:25
  Speaker 3: January to February nineteen seventy five January February nineteen eighty seven.
• 32:28
  Speaker 1: Can't think of anything bad that happened for those years.
• 32:31
  Speaker 3: March April nine famously of phenomenal time in American history.
• 32:35
  Speaker 3: April May twenty twenty. Wow, yeah, I remember that one
• 32:38
  Speaker 3: and now April and May of twenty twenty six, and
• 32:41
  Speaker 3: actually in the journal they write it suggests the games
• 32:43
  Speaker 3: will keep coming. However, of course, you know, some sort
• 32:46
  Speaker 3: of crash is inevitable. We just don't know when or
• 32:48
  Speaker 3: where they write. The chip stocks have powered the S
• 32:51
  Speaker 3: and P up sixteen percent just across May and April,
• 32:55
  Speaker 3: matched only four other times since nineteen fifty, and the
• 32:59
  Speaker 3: index six months later each time was higher by a
• 33:02
  Speaker 3: median of seventeen percent. However, skeptics remained, with those troubled
• 33:06
  Speaker 3: by the sheer scale of the moves. For example, Micron Technology,
• 33:11
  Speaker 3: in Idaho based memory chip maker has increased roughly tenfold
• 33:15
  Speaker 3: in value over the past twelve months to a market
• 33:18
  Speaker 3: cap of one trillion. Samsung is up around four hundred
• 33:23
  Speaker 3: and sixty five percent in South Korea over that period,
• 33:26
  Speaker 3: and a semiconductor index just posted its strongest performance through
• 33:29
  Speaker 3: its hearst first hundred days of any year ever on record.
• 33:33
  Speaker 3: Even some of the companies involved recall the tech bubble era.
• 33:37
  Speaker 3: Intel has tripled to twenty twenty six for its first
• 33:39
  Speaker 3: record since two thousand. Cisco and Qualcom have both served
• 33:43
  Speaker 3: fifty percent. Many on Wall Street are all riding the wave,
• 33:47
  Speaker 3: and so look, you know, obviously this is non financial
• 33:50
  Speaker 3: advice or anything like that. But what I do think
• 33:52
  Speaker 3: is that it surges a level of froth and of
• 33:56
  Speaker 3: confidence at the higher levels of the economy.
• 33:59
  Speaker 1: I'm talking about very, very people.
• 34:00
  Speaker 3: Who on paper are worth extraordinary amounts of money in
• 34:03
  Speaker 3: terms of the gains that they've had. But we've also
• 34:05
  Speaker 3: seen the inverse now in consumer confidence, and I think
• 34:09
  Speaker 3: that's exactly what's putting downward pressure on quality of life.
• 34:13
  Speaker 3: What's interesting, too is to see the existential risk for
• 34:16
  Speaker 3: a political level. So let's put this one up here
• 34:18
  Speaker 3: and we can talk about this. The Florida Attorney General
• 34:21
  Speaker 3: is now suing open AI, seeking to hold Sam Altman
• 34:26
  Speaker 3: personally liable for alleged harms. The eighty three page complaint
• 34:30
  Speaker 3: says that chatch Hept has helped mass shooters in deadly
• 34:33
  Speaker 3: rampages driven some people to suicide. The complaints said that
• 34:36
  Speaker 3: the harms are the results of open AI's insatiable quest
• 34:40
  Speaker 3: to win the AI arms race and a mass large fortunes.
• 34:44
  Speaker 1: I mean, that's kind of an arguable.
• 34:46
  Speaker 3: But the big question is about, well, what exactly what
• 34:51
  Speaker 3: exactly is his responsibility, And I think this is like
• 34:54
  Speaker 3: a bigger question.
• 34:55
  Speaker 1: It just tells us all.
• 34:57
  Speaker 3: These there's no regulatory oversight on this whatsoever. They can
• 35:02
  Speaker 3: just do what they want. Sam Altman was this close
• 35:05
  Speaker 3: to doing pornography, like to doing literonica and sexy. He
• 35:08
  Speaker 3: only didn't do it, I think because of some advertiser
• 35:11
  Speaker 3: or business pressure. But one of the reasons they wanted
• 35:13
  Speaker 3: to do it was to get more hooked on chat, GPT,
• 35:16
  Speaker 3: to siphon even that part off of the Internet. I mean,
• 35:19
  Speaker 3: their desperate desire is to get everybody to use this thing,
• 35:23
  Speaker 3: and then not just to use this thing, to put
• 35:24
  Speaker 3: all of its data in it, to mass all of
• 35:26
  Speaker 3: that knowledge, and then to create frontier models which will
• 35:29
  Speaker 3: make it so that you don't have to work anymore,
• 35:30
  Speaker 3: or really so that you won't work, and they will
• 35:33
  Speaker 3: do all the work for you and capture all that value.
• 35:35
  Speaker 3: From anthropic to open AI, all of these frontier model companies,
• 35:39
  Speaker 3: like everything is based on making the human less important
• 35:44
  Speaker 3: in the workplace. They claim otherwise, but what gives it
• 35:47
  Speaker 3: away is every single op ed and public utterance that
• 35:50
  Speaker 3: they have is just about mass AI.
• 35:53
  Speaker 1: Job losses like that's the entire thing.
• 35:54
  Speaker 4: Yes, and if you put it before, I think this
• 35:57
  Speaker 4: is key the key development here. This is, this is
• 36:01
  Speaker 4: comparing public public sector transportation infrastructure spending versus spending on
• 36:07
  Speaker 4: data centers in the United States. And as you see,
• 36:10
  Speaker 4: but with this chart here, uh, they're now they're now
• 36:14
  Speaker 4: equal like and you know, I'm sure they looked for
• 36:16
  Speaker 4: a bunch of different things to compare, but this is
• 36:17
  Speaker 4: this is a useful one because this is you know, roads, bridges,
• 36:22
  Speaker 4: like everything, everything we need to like basically live in
• 36:25
  Speaker 4: a civilized society versus like dirt roads in the backwoods.
• 36:31
  Speaker 1: And it's now equal to data center spending. And I'm trying.
• 36:37
  Speaker 4: I've been doing news for twenty years. I don't remember
• 36:41
  Speaker 4: covering any debate over this. Not presidential levels.
• 36:47
  Speaker 1: Happens so quickly.
• 36:48
  Speaker 4: Yeah, not a there was there was no vote in Congress,
• 36:51
  Speaker 4: there was no presidential campaign that was run on I
• 36:56
  Speaker 4: think our national priority should be building data centers to
• 37:00
  Speaker 4: develop AI. There was no Senate race where that was
• 37:04
  Speaker 4: even asked that. Yet we are a we are considered
• 37:10
  Speaker 4: to be a democracy, and yet we made this extraordinarily
• 37:16
  Speaker 4: pivotal decision. Somebody made it because it's happening, but it
• 37:23
  Speaker 4: certainly had nothing to do with democracies, like, Okay, well,
• 37:27
  Speaker 4: this is the business community and the market signals just
• 37:32
  Speaker 4: decided that this is what we could do. Okay, that
• 37:34
  Speaker 4: is a system you can have, but that is not
• 37:36
  Speaker 4: self government. And I think we're governed to buy something else.
• 37:40
  Speaker 3: Yeah, I mean, you're effectively governed by disparate market forces.
• 37:43
  Speaker 3: But it's not all that disparate. It's really it's like six, yeah,
• 37:48
  Speaker 3: we're making this decision. Yeah, many of whom are on
• 37:50
  Speaker 3: the same podcasts and also work in the government. What
• 37:53
  Speaker 3: I think is really scary, though, is just is about
• 37:56
  Speaker 3: their explicit desire and public utterance about how, yeah, there's
• 38:00
  Speaker 3: going to be mass social dislocation and job loss. And
• 38:04
  Speaker 3: this is actually a big debate right now in Silicon Valley.
• 38:07
  Speaker 3: I like to go on the TDPN show with my
• 38:10
  Speaker 3: friend John Coogan and we talk about this all the time.
• 38:12
  Speaker 3: And from their perspective, they believe that a lot of
• 38:15
  Speaker 3: it is marketing. Is that with the anthropic and Open
• 38:17
  Speaker 3: AI and all them use these talking points as marketing
• 38:20
  Speaker 3: because it shows how transformative their tech is. But at
• 38:22
  Speaker 3: the same time, there's only so many times that the
• 38:26
  Speaker 3: CEOs of the companies themselves can in all seriousness be
• 38:29
  Speaker 3: like half of humans aren't going to work, and elon
• 38:31
  Speaker 3: being like, by the way, all of you will just
• 38:33
  Speaker 3: get ubi that. You're like, maybe there's something to it.
• 38:37
  Speaker 3: And I've seen researchers and others, We've had so many
• 38:39
  Speaker 3: of them here on the show talk about no, like
• 38:42
  Speaker 3: they're not lying to you. They're actually telling the truth
• 38:45
  Speaker 3: because a it makes them phenomenally rich. But they will
• 38:47
  Speaker 3: have some level of you know, they want to prep
• 38:49
  Speaker 3: the ground for what that type of thing is looking
• 38:52
  Speaker 3: like to the data center point I mean, and the
• 38:56
  Speaker 3: level of CAPEX spending. That is the only reason why
• 39:00
  Speaker 3: we are not in a full blown recession. I believe
• 39:02
  Speaker 3: Canada is actually in a formal recession. One of the
• 39:04
  Speaker 3: reasons they are is they don't have a they don't
• 39:06
  Speaker 3: have a topag and open AI. Almost any company which
• 39:10
  Speaker 3: is living in the real world of manufacturing of goods,
• 39:13
  Speaker 3: of agriculture, of oil is facing a massive downward pressure.
• 39:18
  Speaker 3: The only reason we are not, and that stocks are
• 39:21
  Speaker 3: literally at all all all time highs, is because Micron
• 39:25
  Speaker 3: and other these.
• 39:25
  Speaker 1: Companies are working trillion dollars.
• 39:27
  Speaker 3: If we were any other country in the world, it
• 39:29
  Speaker 3: wouldn't be that way. And I think that that demonstrates,
• 39:32
  Speaker 3: you know, the reliance on this tech. And that's why
• 39:35
  Speaker 3: I kind of said, you're screwed if it doesn't work out,
• 39:36
  Speaker 3: because then it's a bubble and then it's dot com
• 39:39
  Speaker 3: all over again. It took I think it took thirteen
• 39:42
  Speaker 3: years to recover the same market top from two.
• 39:46
  Speaker 1: Yeah.
• 39:46
  Speaker 3: I think it was two thousand and twenty thirteen, thirteen
• 39:49
  Speaker 3: years for the market to return it, which is insanity
• 39:51
  Speaker 3: for the people who invested at that time. But I
• 39:55
  Speaker 3: think it also shows how if it does work out, well,
• 39:58
  Speaker 3: then yeah, if you're an asset owner, oh great.
• 40:00
  Speaker 1: But if it doesn't, you know, there are all kinds
• 40:02
  Speaker 1: of problems.
• 40:03
  Speaker 3: And then you know we we you know, Ryan, you
• 40:05
  Speaker 3: and I we were there for the phone revolution. We
• 40:08
  Speaker 3: similarly didn't have a debate. It was just all of
• 40:10
  Speaker 3: a sudden we all had phones this time. Because we
• 40:13
  Speaker 3: just went through that experience, we have enough knowledge to
• 40:16
  Speaker 3: be like, well, let's let's.
• 40:17
  Speaker 1: Hold on a stud social media, right, Like, yeah.
• 40:19
  Speaker 3: Let's put this next one up here, which is a
• 40:22
  Speaker 3: great story and it's about how the University of California
• 40:24
  Speaker 3: system went all in on AI, and now it's just
• 40:28
  Speaker 3: tearing itself apart, they said. Newly admitted students to San
• 40:31
  Speaker 3: Jose University received an unusual message from the institution's president.
• 40:36
  Speaker 1: They said.
• 40:37
  Speaker 3: Her cameral curls were tucked behind her shoulders, her hands
• 40:40
  Speaker 3: were neatly classed. Dressed down in a royal blue hoodie,
• 40:43
  Speaker 3: she appeared composed and approachable. She said, congratulations on your admission.
• 40:47
  Speaker 3: You'll have opportunities to dive into technologies shaping the world
• 40:50
  Speaker 3: and redefine what's possible. That was not actually her addressing them,
• 40:54
  Speaker 3: but a brand new custom AI avatar. The avatar said,
• 40:58
  Speaker 3: I'm thrilled to share the special moment with you. It's
• 41:01
  Speaker 3: only fitting. Technology is now a cornerstone of what makes
• 41:05
  Speaker 3: the university such an incredible place to learn, innovate, and
• 41:08
  Speaker 3: to grow. This is now the AI Everywhere strategy, which
• 41:13
  Speaker 3: aims to integrate technology across all campus life. And the
• 41:17
  Speaker 3: story I mean again, it's very, very long, but what
• 41:19
  Speaker 3: it does is it just goes into the way AI
• 41:22
  Speaker 3: has gone into every single facet of this organization and
• 41:25
  Speaker 3: how it's you know, basically ripping the community apart, et cetera.
• 41:29
  Speaker 3: But I mean, for even that it's like, you don't
• 41:31
  Speaker 3: have the time to film a video. Sorry, my parents
• 41:33
  Speaker 3: are in academia, all right, Like, let's let's be honest.
• 41:36
  Speaker 1: In terms of in terms of all summer.
• 41:39
  Speaker 3: Yeah, it's like, sorry, no shade, but some shade. You know,
• 41:44
  Speaker 3: university president, like, oh, what is your job? Like you're
• 41:47
  Speaker 3: dealing with tenure bullshit and cutting ribbons and talking to donors.
• 41:51
  Speaker 3: You can film the damn video.
• 41:53
  Speaker 1: You can film the video.
• 41:55
  Speaker 3: It just shows you how they're basically trying to come
• 41:59
  Speaker 3: up with use K is for it for everything, and
• 42:03
  Speaker 3: but and it is extraordinarily useful, but it's also destroying
• 42:06
  Speaker 3: a lot of student life and homework. And it's like
• 42:10
  Speaker 3: everything is becoming AI and the students, as we all
• 42:15
  Speaker 3: saw at those graduation ceremonies, they don't even like it.
• 42:18
  Speaker 1: They're booing it at these commencement addresses. Yeah no, yes.
• 42:23
  Speaker 4: And you're also seeing a lot of companies that are
• 42:26
  Speaker 4: starting to say, wait a minute, like it's costing us
• 42:30
  Speaker 4: a lot of money to have these these agents doing
• 42:33
  Speaker 4: the work. They're not doing it as well as the
• 42:37
  Speaker 4: people were before. And now we've run through our budget,
• 42:41
  Speaker 4: our AI agent budget, and now we don't so we
• 42:44
  Speaker 4: don't have them anymore because we're out of money there
• 42:46
  Speaker 4: and we got rid of our employees and the agent
• 42:51
  Speaker 4: doesn't actually know where things are, Like there's there's a
• 42:55
  Speaker 4: there's a knowledge base that you have to have to
• 42:57
  Speaker 4: like keep things, to keep things going, and you got
• 43:00
  Speaker 4: rid of all those people. So that is the other
• 43:02
  Speaker 4: hope that that's the math, that's the wall of math
• 43:06
  Speaker 4: that this.
• 43:06
  Speaker 1: Might run into. But if that in that scenario.
• 43:11
  Speaker 4: Like there is just a river of tears, yes, that
• 43:15
  Speaker 4: flows from this entire structure kind of collapsing. But the
• 43:19
  Speaker 4: other idea from Bernie, Bernie is saying, well, and she
• 43:22
  Speaker 4: is a bible to have the public take fifty percent
• 43:24
  Speaker 4: ownership stake in the country's biggest AI companies. The American
• 43:27
  Speaker 4: AI Sovereign Wealth Fund Act would have the government take
• 43:30
  Speaker 4: AI companies fifty percent of stock and put it under
• 43:33
  Speaker 4: public control. And I think before people freak out, it's like, hey, look,
• 43:37
  Speaker 4: if we're allowed to nationalize TikTok, because Israel doesn't like
• 43:42
  Speaker 4: the way that you know, the slaughter of Palestinians is
• 43:47
  Speaker 4: getting from is allowed to be you know, posted on
• 43:52
  Speaker 4: the app, if we can literally go ahead and seize that,
• 43:57
  Speaker 4: then I think for something that is much more significant
• 44:00
  Speaker 4: to the United States, we should can we should consider
• 44:05
  Speaker 4: this as well because and speaking of we.
• 44:08
  Speaker 1: Talked about Troy kott Chocolate Party earlier.
• 44:10
  Speaker 4: One of the unusual things about him is that he
• 44:13
  Speaker 4: has an actual AI plan and one of his ideas
• 44:16
  Speaker 4: that he's running on. So he says, if something is
• 44:20
  Speaker 4: free to provide or effectively free to provide using AI,
• 44:25
  Speaker 4: then it should no longer be the realm of kind
• 44:29
  Speaker 4: of private profit and the government should just make it.
• 44:33
  Speaker 1: Available to people.
• 44:33
  Speaker 4: Like if it really is free to produce or effectively
• 44:36
  Speaker 4: free to produce a small amount of energy and running
• 44:40
  Speaker 4: on an open model, just let people use it and
• 44:43
  Speaker 4: then they can build businesses off of it. They can
• 44:45
  Speaker 4: they can use it in their own lives to make
• 44:47
  Speaker 4: their lives better. And if the if the US, if
• 44:51
  Speaker 4: the government owns half of it, then then you can
• 44:55
  Speaker 4: actually start to make those decisions as a society.
• 44:58
  Speaker 1: Right.
• 44:58
  Speaker 3: And look, Trump has our laid the ground for this. Trump,
• 45:01
  Speaker 3: it took steak In take everything. It took steak In Intel.
• 45:04
  Speaker 3: I support it, all those Cisco too, Yeah, it's some
• 45:07
  Speaker 3: one of them. Mean you know why I support it?
• 45:08
  Speaker 3: Like with Intel, I'm like, yeah, Intel is a vital manufacturing,
• 45:12
  Speaker 3: a high tech piece of the US economy. Period.
• 45:14
  Speaker 1: Yes, the government should have a say in it.
• 45:16
  Speaker 3: I mean, how can you look at TSMC or any
• 45:19
  Speaker 3: of these major Chinese conglomerates and not say that it's
• 45:21
  Speaker 3: obviously the best way for it to work. Same here
• 45:25
  Speaker 3: with Ai for to say that this is going to
• 45:27
  Speaker 3: have a national and massive import on our quality of life,
• 45:30
  Speaker 3: our way of life, our ability to work on our wealth,
• 45:33
  Speaker 3: et cetera. Not only should the government have steak and
• 45:36
  Speaker 3: or ability to guide it from a shareholder perspective, but
• 45:39
  Speaker 3: it's actually, you know, an old Republican value of like fine,
• 45:42
  Speaker 3: let's take a steak in itto from a value perspective
• 45:44
  Speaker 3: and actually make something out of this, not just tax
• 45:47
  Speaker 3: you know, some of the actual dollars that it will
• 45:50
  Speaker 3: create later.
• 45:50
  Speaker 1: On in the economy. It's actually I think it's a
• 45:52
  Speaker 1: good idea.
• 45:53
  Speaker 3: At the very least, somebody's thinking about it, you know,
• 45:55
  Speaker 3: as he has in the past.
• 45:56
  Speaker 1: So I like it. I like it.
• 45:58
  Speaker 3: But anyway, the body of rebellion where we are about
• 46:01
  Speaker 3: to see there will be more billionaires in twenty twenty
• 46:03
  Speaker 3: seven than any time in human history, and twenty twenty
• 46:06
  Speaker 3: six watching house right now, Yeah, probably, which a lot
• 46:10
  Speaker 3: of me watch based on.
• 46:13
  Speaker 4: But there are actually there are a lot of good
• 46:14
  Speaker 4: people that work inside these companies too, who are like, look, well,
• 46:19
  Speaker 4: some of them are like, we want to guide this
• 46:20
  Speaker 4: as to as the least bad or a good possibility.
• 46:23
  Speaker 4: Others are like, hey, I got you got to have
• 46:25
  Speaker 4: a job somewhere, right, I got to become a billionaire
• 46:27
  Speaker 4: somewhere you got to be.
• 46:28
  Speaker 3: It's like, how else can I buy my house in
• 46:30
  Speaker 3: We're in county?
• 46:31
  Speaker 1: I second home in Marina? That's fair? Yeah?
• 46:33
  Speaker 3: Yeah, yeah? Who's going to buy a yacht at the
• 46:36
  Speaker 3: at the Newport yacht What is it? The yacht club
• 46:39
  Speaker 3: in Newport, Rhode Island. No, No, I'm thinking of the
• 46:42
  Speaker 3: one in California. This is my say, we don't know,
• 46:44
  Speaker 3: I don't know my California geography, which is where they
• 46:46
  Speaker 3: always say to me. They're like, you're not even from here,
• 46:48
  Speaker 3: Like why are you talking about this? All right, let's
• 46:50
  Speaker 3: get to Jade Vance. Turning now to jd Vance in
• 46:56
  Speaker 3: a new long profile in the New York Times, put
• 46:59
  Speaker 3: this up here on the screen is jd Vance, the
• 47:01
  Speaker 3: twenty twenty eight front runner. Trump has questions quote. In
• 47:06
  Speaker 3: recent conversations with aids and allies, Trump often interjects with
• 47:09
  Speaker 3: the question, does JD. Vance have what it takes to
• 47:11
  Speaker 3: go all the way? He usually answers his own question,
• 47:13
  Speaker 3: He's not so sure. It's not that Trump is abandon Advance.
• 47:16
  Speaker 3: He involves him in major decisions, has given him high
• 47:18
  Speaker 3: profile opportunities for partisan warfare, and trusts the forty one
• 47:22
  Speaker 3: year old to wage partisan warfare on his behalf. Trump
• 47:25
  Speaker 3: recently compared him to Elliott Ness, the mob busting federal agent.
• 47:29
  Speaker 3: Trump is long conducted running focus groups on his closest
• 47:32
  Speaker 3: aids and appears to enjoy needling them and keeping them
• 47:35
  Speaker 3: off balance. When it comes to Vance, the stakes are
• 47:37
  Speaker 3: higher as the default front runner. Vance's fortunes ride to
• 47:40
  Speaker 3: a substantial degree on the enthusiasm and support he gets
• 47:43
  Speaker 3: from Trump, and Trump's regular polling of people of whether
• 47:46
  Speaker 3: they prefer Vance or Rubio has become one of the
• 47:48
  Speaker 3: most closely watched early indicators of how power in the
• 47:52
  Speaker 3: Republican Party might pass to the next generation. When he
• 47:55
  Speaker 3: conducts these polls in private, Trump often compares Vance's performance
• 47:58
  Speaker 3: to his own achievements. He has told several allies Vance
• 48:01
  Speaker 3: has never won a tough race without his help. He
• 48:03
  Speaker 3: has brought up the number of vacations that Trump Vance
• 48:06
  Speaker 3: has taken as a vice president.
• 48:09
  Speaker 1: Here.
• 48:10
  Speaker 3: I just want to do a quick fact check. They write,
• 48:12
  Speaker 3: mister Trump generally does not take them. Oh really, that
• 48:16
  Speaker 3: would be news to every single weekend of mar A Lago,
• 48:19
  Speaker 3: which I guess is yeah, literal life is living on
• 48:22
  Speaker 3: Air Force one in Bedminster and mar A Lago.
• 48:25
  Speaker 1: But whatever, I'll move past that one. But this was
• 48:28
  Speaker 1: the key line.
• 48:29
  Speaker 3: He has repeatedly mentioned the vice president's initial opposition to
• 48:33
  Speaker 3: starting the war with Iran, and has done so in
• 48:36
  Speaker 3: front of Vance, quote, I'm more of a peace person
• 48:38
  Speaker 3: than you are, but I had to do it. The
• 48:40
  Speaker 3: president has also questioned his decision to send a Vance
• 48:44
  Speaker 3: led delegation to a negotiation session in Pakistan that failed
• 48:47
  Speaker 3: to end the war. And I think what this does
• 48:50
  Speaker 3: is it combines with Trump's obvious preference or at least
• 48:55
  Speaker 3: more recently, with Marco Rubio, because basically all of what
• 49:00
  Speaker 3: Trump has done in the first second administration on a
• 49:03
  Speaker 3: foreign policy level, at the very least it's Rubio copy
• 49:06
  Speaker 3: and paste.
• 49:07
  Speaker 1: War with Iran.
• 49:08
  Speaker 3: Venezuela Maduro Cuba being our existential threat. And so I
• 49:14
  Speaker 3: mean this just demonstrates like the sheer futility which I think,
• 49:17
  Speaker 3: you know, really I've realized here where Trump demands absolute loyalty,
• 49:21
  Speaker 3: even internally, if you were to oppose or you know,
• 49:24
  Speaker 3: marginally opposed, let's say, in the case of Iran, where
• 49:27
  Speaker 3: publicly you're making a clowning yourself by you know, comparing
• 49:32
  Speaker 3: Iran to a suicide bomber or something like that, even
• 49:35
  Speaker 3: that is not enough, Like you need to be so
• 49:37
  Speaker 3: enthusiastic ab a bootlecker, both publicly and privately. And yeah,
• 49:42
  Speaker 3: I mean for him, he made the devil's bargain, he said, Okay,
• 49:45
  Speaker 3: I'm going to be the vice president. And but the
• 49:47
  Speaker 3: theory behind that, which I've espoused here and I've said publicly,
• 49:51
  Speaker 3: I did know him, you know, in a previous life.
• 49:53
  Speaker 3: And what the theory of the entire policy project was, we go,
• 49:57
  Speaker 3: we work for Trump and in exchange, because Trump is
• 50:00
  Speaker 3: effectively tabula rossa blanks lad you push from the inside
• 50:03
  Speaker 3: to have better policy. It's been a total failure, an
• 50:05
  Speaker 3: abject in a total failure. Now there's a lot of
• 50:07
  Speaker 3: reasons for that, and really what I think it ultimately
• 50:10
  Speaker 3: comes to is there's no forcing mechanism because even in
• 50:13
  Speaker 3: this case, let's say you did oppose war with Iran,
• 50:15
  Speaker 3: nobody will ever know the truth even if that's true,
• 50:18
  Speaker 3: And even if you do so internally, Trump still demands
• 50:21
  Speaker 3: absolute contrition in public, which neuters any ability that you
• 50:25
  Speaker 3: have because in public you have to go out and
• 50:27
  Speaker 3: defend this very nonsense as it is happening. So it
• 50:30
  Speaker 3: just creates a mechanism where Rubio would be the more
• 50:34
  Speaker 3: honest succession at this point. For mag what is maga
• 50:37
  Speaker 3: like Trump? Okay, so Rubio, let's do it, low taxes,
• 50:40
  Speaker 3: war with Cuba, war with Iran, war with Venezuela.
• 50:44
  Speaker 1: All right, I mean, yeah, that's maga.
• 50:46
  Speaker 4: And what's crazy is that in this article it suggests
• 50:49
  Speaker 4: that Trump it privately makes fun of JD. Vance for
• 50:52
  Speaker 4: opposing the Iran war, which blows my mind because you
• 50:57
  Speaker 4: would think that at this point in the World War, right,
• 51:00
  Speaker 4: that Trump would be like, you know what, JD.
• 51:03
  Speaker 1: You actually I should have listened to you.
• 51:05
  Speaker 3: No, dude, it's bunker mindset. It's it's if you ever
• 51:07
  Speaker 3: watched that movie Downfall, the German movie about Hitler in
• 51:11
  Speaker 3: the bunk. Yeah, it's this is fear amonger mindset. It's
• 51:15
  Speaker 3: like you got to be all in if you're even
• 51:17
  Speaker 3: marginally off. And to that extent, this is where I
• 51:20
  Speaker 3: don't even want to portray that there's some marginally maybe
• 51:23
  Speaker 3: behind the scenes, maybe I to the limited extent of
• 51:26
  Speaker 3: what I know, there has been you know, he went
• 51:28
  Speaker 3: to Islamabad and all that, but even then Trump set
• 51:31
  Speaker 3: him up for failure. I was saying, you remember we
• 51:34
  Speaker 3: talked about this. JD had no ability Gallibaf and Arachi
• 51:39
  Speaker 3: at that table. They had some scope to negotiate that
• 51:42
  Speaker 3: they've been given from the Supreme Leader. Jady's getting up
• 51:44
  Speaker 3: from the table every five minutes it's called Trump and
• 51:47
  Speaker 3: for Bebe to say okay, yeah, exactly like they had
• 51:51
  Speaker 3: no discretionary authority. Spent eighteen hours in Islamabad, nothing happens,
• 51:56
  Speaker 3: literally nothing. And from that, you know Jade also, I
• 52:00
  Speaker 3: mean Trump has put him out and this is Jad's
• 52:02
  Speaker 3: fault as well. He's the attack dog. So what does
• 52:04
  Speaker 3: he do. He goes out and defends the stupidest shit
• 52:07
  Speaker 3: possible that you put that, Yeah, this is my segue,
• 52:11
  Speaker 3: the absolute stupidest shit possible that later on they have
• 52:14
  Speaker 3: to rug pull and say yeah, no, actually it was
• 52:16
  Speaker 3: a bad idea. So here he was a couple of
• 52:18
  Speaker 3: days ago being questioned about this, you know, slush fund
• 52:22
  Speaker 3: that Trump was setting up.
• 52:23
  Speaker 1: Let's take a listen.
• 52:24
  Speaker 3: I want to ask you.
• 52:25
  Speaker 5: About that one point eight billion dollar fund set up
• 52:28
  Speaker 5: weaponization fund as being called why should taxpayers be paying
• 52:33
  Speaker 5: to settle a ten billion dollar lawsuit that was brought
• 52:37
  Speaker 5: by the President of the United States? And should people
• 52:40
  Speaker 5: that attacked the Capitol Building and assaulted police officers should
• 52:45
  Speaker 5: they be eligible, should they receive money? Should they receive
• 52:49
  Speaker 5: money from this one?
• 52:50
  Speaker 1: Well, let me say a couple of things about that.
• 52:51
  Speaker 6: First, John, I think in some ways the media has
• 52:53
  Speaker 6: misrepresented what this is actually about. This is about compensating
• 52:57
  Speaker 6: Americans for the lawfare that we saw under the last administration.
• 53:00
  Speaker 6: And by the way, anybody can apply for it. Republicans
• 53:04
  Speaker 6: can apply for it, Democrats can apply for it. As
• 53:06
  Speaker 6: you know, the President the United States has pardoned a
• 53:09
  Speaker 6: number of Democrats who he felt were actually subject to
• 53:12
  Speaker 6: this law. Fair I mean, if Hunter Biden wants to
• 53:14
  Speaker 6: apply for this particular fund, he is welcome to. It's
• 53:17
  Speaker 6: going to go through a normal process where we vet everything,
• 53:19
  Speaker 6: where we try to identify whether people's claims are actually legitimate.
• 53:23
  Speaker 1: But here's the question.
• 53:25
  Speaker 6: You say, why should taxpayers fund this? Whenever the United
• 53:29
  Speaker 6: States government incurs legal expenses, it pays out those legal expenses.
• 53:34
  Speaker 6: When it's settling a lawsuit, it pays out money to
• 53:36
  Speaker 6: settle that lawsuit. And the question is a dollar of
• 53:40
  Speaker 6: this money going to the Trump administration?
• 53:42
  Speaker 3: No?
• 53:43
  Speaker 6: Is a dollar of this money going to Donald Trump personally. No,
• 53:46
  Speaker 6: is a dollar of this money going to Donald Trump's family. No,
• 53:49
  Speaker 6: the people that would get the money are people, some
• 53:52
  Speaker 6: of whom have been prosecuted completely disproportionate to any crime
• 53:56
  Speaker 6: they've ever committed.
• 53:57
  Speaker 3: So he gives us passionate defense to the fund. And
• 54:00
  Speaker 3: now what happens, let's put this one.
• 54:01
  Speaker 1: Up here on the screen.
• 54:02
  Speaker 3: Oh oops, Trump is now having to drop the whole
• 54:05
  Speaker 3: fund because they're blaming the dj for or sorry, they're
• 54:09
  Speaker 3: blaming a judge for ruling against it. Here's what really happened.
• 54:13
  Speaker 3: The entire Republican Congress rallied up again. So this is
• 54:17
  Speaker 3: what I'm talking about. He's forced to go out and
• 54:19
  Speaker 3: defend the Iran war. He's forced to go out and
• 54:21
  Speaker 3: defend the weaponization fund. He was point man on the shooting.
• 54:25
  Speaker 3: What am I thinking of renee Hood?
• 54:27
  Speaker 4: I mean, he was just and like my replies, huh,
• 54:30
  Speaker 4: he was out in my replies about the real good thing.
• 54:32
  Speaker 3: God forgot about that. Yeah, so he's like dude. And actually,
• 54:36
  Speaker 3: allegedly in this New York Times story, there was this meeting,
• 54:40
  Speaker 3: there's this moment where Susie Wiles, the White House Chief
• 54:43
  Speaker 3: of Staff, allegedly tells him to give up social media
• 54:47
  Speaker 3: off of the he gave it.
• 54:48
  Speaker 1: Up for Lan. I mean, again, who knows how much
• 54:50
  Speaker 1: of this is true?
• 54:51
  Speaker 3: Who knows how much of this is like a rubio
• 54:53
  Speaker 3: op also as well, probably a lot of it. You know, Look,
• 54:57
  Speaker 3: I don't care. But my moment, my pill behind this
• 55:01
  Speaker 3: is this demonstrates, I think, the failure of a project,
• 55:05
  Speaker 3: which again I believed it was Trump tabula rasa. He's
• 55:09
  Speaker 3: a good politician, whatever. But what happens is you have
• 55:12
  Speaker 3: a bunch of people who work for him. They have
• 55:14
  Speaker 3: a specific ideological worldview. They'll use his presidency push that
• 55:17
  Speaker 3: said worldview, in which Trump ostensibly agrees. Although Trump says
• 55:21
  Speaker 3: a lot of different shit, it hasn't worked. It simply
• 55:23
  Speaker 3: has not worked. The pro Israel Lobby and the rest
• 55:26
  Speaker 3: of these people rolled that entire faction of the administration
• 55:29
  Speaker 3: to this point. Now, Iran is what Trump will be
• 55:31
  Speaker 3: known for as of right now, for what you know
• 55:34
  Speaker 3: in terms of his presidency. It really is what has
• 55:37
  Speaker 3: pushed his polls in a dramatic, new and a different direction.
• 55:40
  Speaker 3: It's changed and shifted the culture dramatically. I think, you
• 55:44
  Speaker 3: know already things were not going so well for the administration,
• 55:47
  Speaker 3: but this really put things over the edge. So in
• 55:50
  Speaker 3: a certain sense, I'm like, why would you even want
• 55:52
  Speaker 3: to be the successor of Donald Trump?
• 55:53
  Speaker 1: Now at this point, let Rubio have it, you.
• 55:55
  Speaker 3: Know, and then maybe you know, you're a young guy,
• 55:57
  Speaker 3: maybe you can make a case sometime in the future.
• 56:00
  Speaker 3: But yeah, I don't know. I'm curious for what you think.
• 56:03
  Speaker 4: Put simply, the bums lost, dude, But the blorables lost. Yeah, Yeah,
• 56:08
  Speaker 4: they were up they were up against they were outmatched. Yeah,
• 56:11
  Speaker 4: But the neo Khon and pro Israel and business lobby
• 56:14
  Speaker 4: AI guys, they beat the bums. I was rooting for
• 56:19
  Speaker 4: the bums intramural fight.
• 56:22
  Speaker 1: It is really is a remarkable story.
• 56:24
  Speaker 3: Like to think about how that happened and what I've
• 56:26
  Speaker 3: really seen is that because Trump ultimately is just a
• 56:30
  Speaker 3: cult like of personality at the end of the day
• 56:32
  Speaker 3: for the vast majority of his supporters that if you
• 56:36
  Speaker 3: cannot oppose him on any ground, you have to publicly
• 56:39
  Speaker 3: support and that removes any function to push things in
• 56:43
  Speaker 3: a different direction when he is easily influenced or decides
• 56:47
  Speaker 3: of his own accord Iran war, massive amount of corruption.
• 56:50
  Speaker 3: I mean, Kenny single Maga Republican, a real elected official
• 56:54
  Speaker 3: say what he has done with the pardon system or
• 56:57
  Speaker 3: personally enriching himself is massively correct. They can't even say that,
• 57:00
  Speaker 3: didn't even say that. Look at the Jubilee thing with
• 57:02
  Speaker 3: Glenn Greenwald. They're sitting there just barking at it. They're
• 57:06
  Speaker 3: barking at you, But what about Joe Biden?
• 57:08
  Speaker 1: Or but what about it?
• 57:09
  Speaker 3: And we're like, yeah, that's bad. Like what did Glenn
• 57:12
  Speaker 3: say at a zero? And that's Trump? Multiple it's bad,
• 57:15
  Speaker 3: multiple zeros, that's Trump. And it's like their brain short circuits.
• 57:20
  Speaker 3: They're not even willing to make a okay, lesser of
• 57:23
  Speaker 3: two evils argument. They're like, no, it's just not true.