00:00:00
all right trath apparently the Rainman David Sachs is now the architect I think he's been working behind the scenes
00:00:06
according to a bunch of the news stories I like Puppet Master the Puppet Master okay well we should call Sak chetto
00:00:13
let's cut we're going live now to the RNC in Milwaukee and live coverage uh Sith Lord David sxs are you
00:00:21
there oh he is it's Palatine tell us about your new Empire cator Palatine everything has
00:00:30
preceded as I have foreseen let your winners ride rman David and instead we open source it to
00:00:43
the fans and they've just gone crazy with [Music] it obviously sacks Trump makes his own
00:00:52
decisions you're getting a little bit too much credit uh I think yeah absolutely no I mean I'm I'm mocking I'm
00:00:58
sterzing the times and Business Insider and all these Publications are giving me
00:01:02
all this credit listen the president obviously makes the decision he solicits feedback from lots of people I was
00:01:08
probably one of a thousand people or at least hundreds of people who offer my opinion obviously I'm a big fan of JD
00:01:14
Vance but I think uh it's just giving me way too much credit in all seriousness uh Sachs you're there and obviously you
00:01:21
know president Trump how is he doing how's he feeling in the wake of this absolute tragedy I think he's doing well
00:01:28
he was in great Spirits I think but let's maybe we just should get into the assassination attempt that's really the
00:01:33
thing to talk about here all right everybody welcome back to episode 188 of the Allin podcast we have a full docket
00:01:41
to get through today we are here on July 18th on the taping of this and it is five days after an assassination attempt
00:01:51
on the former president of the United States and the likely 47th president of United States obviously president Trump
00:01:58
we're going to start with what we know it's 5 days later we're a bit in the fog of War as it is and there are uh all the
00:02:04
breaking news caveats that you can put on this but I want to recap what we know now about this assassination attempt and
00:02:11
get everybody's feedback on it last Saturday at a uh rally in Pennsylvania 20-year-old named Thomas Matthew Crooks
00:02:18
fired eight rounds with an AR-15 at the former president one bullet nicked Trump's right ear this was confirmed by
00:02:26
the president on Truth social and uh a trump supporter tragically in the crowd Corey comparator was killed while
00:02:34
protecting his family from gunfire two others were critically injured krooks was killed by the secret Services
00:02:39
counter sniper team 26 seconds after he fired the first shot he didn't have a criminal record he was not known to the
00:02:45
FBI or Secret Service he uh was a registered Republican but also donated $15 to a progressive
00:02:52
pack and the motive is not known so we'll just wait for that there were some uh leaks from a
00:02:59
Senate briefing I don't know if you gentlemen have heard those that just came out and it was reported that Crooks
00:03:06
wrote on July 13th on Steam that's a gaming platform July 13th will be my Premiere watch as it
00:03:14
unfolds he had a second phone he had a uh detonation device in his pocket there were a bomb or some sort of explosive
00:03:22
device in his car we'll get details with that I'm sure and now we are in the phase of how the hell did this happen
00:03:29
here's a picture of the rooftop the closest rooftop was not secured and it was a 130 yard away the head of the
00:03:38
Secret Service said they didn't put anybody on the rooftop because of its sloped surface obviously this is being
00:03:46
mocked on social media and questioned by journalists and anybody with any IQ points the most disturbing part of all
00:03:55
of this aside from somebody wanting to murder the president is the timeline so ABC News is reporting the following
00:04:01
timeline gentlemen 5:10 p.m. Crooks was first identified as a POI Person of Interest 530 he's spotted with a
00:04:10
rangefinder 552 he's spotted on a roof by the Secret Service 602 Trump takes the stage 6:12 p.m. he fires his first
00:04:19
shot we'll get into some clips and everything but let me just stop here and get everybody's reaction to this tragedy
00:04:29
jamat you're that's it's absolute Insanity I actually just I had just woken up because I was flying back to
00:04:37
the United States for a board meeting and so as I was boarding and on the way I was just on my way to the
00:04:44
airport reading it mostly from our group chat and I was I couldn't I couldn't believe it to be totally honest with you
00:04:52
I thought this made I thought this was this is not possible in this day and age and part of why thought it was not
00:05:00
possible was because I had elevated in my mind who the Secret Service were and that the job they did or that they're
00:05:09
supposed to be doing is just so sacran to the well functioning of America that you only have the absolute best people
00:05:18
doing that job and that job is to protect these handful of individuals in America most importantly being the
00:05:26
United the the president of the United States who are just critical to the functioning of the most important
00:05:31
country in the world and when you see the level of negligence and incompetence you know my mind started
00:05:43
racing how is it even possible and I guess the the the only thing that I can come up with is that we need to
00:05:54
figure out where incompetence ended and negligence began in all of this because I think that's what's going to be the
00:06:01
most critical and we need to figure out the totality of what happened and you know
00:06:08
if there were other people that supported this guy trying to do this and then the second I'll just say is Trump
00:06:14
is an absolute Legend what a boss okay freeberg where were you when the news broke and what are your general thoughts
00:06:21
here five days after this occurred we'll get into Political ramifications and everything else but just on the event
00:06:26
that occurred and your takeaways from it I was with a grou of people drinking beer outside we were on our fourth
00:06:33
beer and we I thought it was a joke I think the first thing I thought after I saw the video and saw that he was okay
00:06:39
and that his ear was bleeding was that's it it's over trumps W it was probably one of the most iconic patriotic visuals
00:06:48
I think any of us have seen um and here's the image Nick's pulling up what a photo this is the AP
00:06:55
photographer and I think it's really um it was so striking you see this photo which um which didn't come out right
00:07:01
away but some of the imagery that came out right away with him pumping his fist was like okay that's it Trump's won it's
00:07:06
over second thing I thought was this could trigger a lot of violent counter reactions um if it if Trump doesn't lead
00:07:15
well here and I think he prevented that in his statements and from the other side third thing I thought is it doesn't
00:07:21
matter if Biden drops out now because it's over Biden could stay in he could leave um this just feels like a lot of
00:07:28
momentum and then the fourth thing I thought was this to chim's point I think we've all been around Secret Service
00:07:33
people in our lives and in our careers and in meetings and interactions we've had it really was amazing that the
00:07:38
Secret Service let this happen and if you see you know all the data and the stuff
00:07:45
that's coming out now about how the Secret Service managed this it seems pretty scary that this was so botched
00:07:51
certainly now the dust is settled 5 days later and it seems like they're back into the conversation about let's remove
00:07:56
Biden and figure out who can run against Trump although there is conflicting polling data which I know we're going to
00:08:02
get to let's get sex's reaction sex where were you and this occurred and your thoughts on um you know the event
00:08:09
itself and obviously there's tons of conspiracy theories going around right now obviously there is some uh
00:08:16
negligence that occurred here I don't think there's any doubt about that uh there's a Dei angle there's a ton of
00:08:23
angles here but where were you when you saw this happen and what was your immediate thought yeah well let me your
00:08:29
first question first I think this was one of those events where you'll always remember where you were and I was just
00:08:35
working in my office in Los Angeles I was going to fly to the Republican convention in Milwaukee a few hours
00:08:41
later and so someone texted me the president's been shot Trump had been shot and my heart sank I immedately went
00:08:46
online to see the video and I think I saw in almost real time him go down and then when he stood back up and faced the
00:08:55
crowd and told the Secret Service wait wait he didn't wanted to let them kind of drag him away he turned to face the
00:09:02
crowd and exposed his face who knows if there had been another shooter who knows
00:09:07
if that Sho was really down but in that moment he wanted to let the crowd know that he was fine we were one inch away
00:09:13
from the president of the United States having his head shot you know he's got grandkids he's got a wife he's got kids
00:09:20
uh he's got friends how do you feel about the individual his head was almost shot on television in front of thousand
00:09:27
hundreds maybe thousands of people on live and the gravity of this I think is very
00:09:32
significant and I think we've in this media saturated environment we've processed it too Qui which is why on the
00:09:37
docket I wanted to slow down here and just take in what happened you know one other uh very important detail for for
00:09:43
me is that you know my father-in-law was actually at that rally in in Butler at Butler Farm really yeah he was there and
00:09:50
he saw everything that happened and when we saw there was a shooting there we were trying to get a hold of him and the
00:09:54
cell reception had been shut down and we couldn't get a hold of him for a couple
00:09:57
hours and obviously we we found out later that he was fine but what he described is that when
00:10:03
the shots rang out the president went down there was really a feeling of of bedum and pandemonium in the crowd the
00:10:09
crowd was afraid that the president been shot and so when he stood back up and faced the crowd and then you know said
00:10:15
fight fight fight it created this huge sense of relief it was like palpable that he was that he was fine and then
00:10:23
the part that I don't think's been well reported is that the crowd started chanting USA USA USA
00:10:30
yeah so they responded with this Unity it's been well reported that you know that Trump was said fight fight fight
00:10:36
but I don't think it's been well reported that the crowd started cheering USA USA USA so I think that the
00:10:42
crowd turned from Fear to Unity and strength and patriotism reflecting what they saw from the president yeah it's
00:10:53
well said yeah this is one of these things that's unbelievable and the whole world I think has just seen how iconic
00:10:58
it is I saw there's a video online even in I think kids in Uganda were actually reenacting the assassination attempt
00:11:04
yeah that's how iconic it was Trump's like a global legend for that and again there's just no way to fake what he did
00:11:10
in that moment right where again he I mean the the bullet missing him was either luck or you know hand of God or
00:11:19
destiny whatever you want to call it but him telling the Secret Service to stop to face the crowd to basically show that
00:11:26
he was unharmed and that he was determined and was defiant in the face of an Assassin's bullet that's courage
00:11:32
that nobody can fake and I've seen people online talk about how um soldiers Under Fire they've described how when
00:11:39
they've been under Fire obviously they hit the deck they don't stand back up you know even soldiers don't don't do
00:11:44
that his composure is incredible yeah he just Rose to the occasion in just such an incredible way that I think it's
00:11:51
inspired the whole country and the whole world there's just no way again to fake
00:11:55
something like that even though some people like read Hoffman's political hack was actually claiming that it was
00:12:02
all staged which is just unbelievably ridiculous but yeah so but I think the rest of the rest of the world knows that
00:12:08
he just showed unbelievable courage in that moment and Rose to the occasion and I think made the entire country proud it
00:12:14
certainly was an amount of bravery and a and a bold response I do think this the
00:12:21
next phase of this is sort of figuring out what happened with the Secret Service as Brave as it was for him to
00:12:26
stand up that was a crazy thing to do can't believe the Secret Service allowed him to get back up because there could
00:12:32
have been a second shooter and although we heard radio chatter that the shooter was down I mean how do you know in a
00:12:38
situation like this what's actually happening they could have got a second shot off on the president maybe they
00:12:43
they they don't miss by an inch that time and then they hit it so we got a lot of questions that need to be
00:12:49
answered here thank God he's okay and I think I guess now it's time to talk about rhetoric and I think that's
00:12:57
actually from my perspective you know the next thing that has to happen here in terms of leadership when something
00:13:02
this tragic happens you know everybody's looking at the other side's retoric here
00:13:08
whether it's putting Trump on a magazine cover as Hitler or they're saying you got to fight like hell or the
00:13:14
oathkeepers and all this January 6 nonsense and beating up cops I think we have to put both of these things aside
00:13:20
and the the leadership Trump and Biden should be saying right now that and Leadership does start at the top this
00:13:27
rhetoric is not to be done anymore people have to tone things down you could be passionate
00:13:33
about politics but using violent language there are sick people in the world and this kid I think it will
00:13:38
ultimately turn out like all the other assassins we've seen or or these celebrity killings that occur John lenon
00:13:45
Etc it's usually a mentally ill person likely what happened to here we don't know yet you know they interpret violent
00:13:52
language differently than a normal person so we could say fight like hell or Target or you know you got Fight for
00:13:59
Your Country whatever it is and we would take it a certain way sick people take it a different way and they need to put
00:14:04
out a joint statement and just say anybody on our teams who use violence who uses violent rhetoric is no longer
00:14:09
on our teams and they haven't done that so I think there's like more work to be done here in terms of leadership I think
00:14:14
it's more precise than that I think it's way more precise than this I don't think
00:14:18
that this is like years of Donald Trump using violent rhetoric I think this is years of Mis no I don't you cannot both
00:14:26
sides this I think this is years of course give you examples of it I think what it is is we have gone through years
00:14:32
and years of literally the words that the former president has said being perverted and misconstrued and chopped
00:14:41
up into sound bites that Advance a mainstream media's agenda to try to vilify a person and I think that
00:14:50
that's an important thing to take a step back I think we have to understand that
00:14:56
the mainstream media has really gone out of their way to amplify violent rhetoric
00:15:04
and to actually associate violent rhetoric with as a tolerable reaction and I think that that is the thing that
00:15:12
we need to now completely get rid of in our society I saw so many reactions to the former
00:15:22
and probably future president of the United States getting shot which was along the lines of basically hoping that
00:15:30
that person hadn't missed and or justifying that violence on Donald Trump was somehow Justified that's insane now
00:15:38
that person could only have gotten that idea because the media fed them that language and that
00:15:45
idea and I think that that's extremely scary because I don't think you actually see Republicans necessarily saying that
00:15:53
about Joe Biden they may think that Joe Biden is feeble and mentally incompetent
00:16:00
but nobody's calling for the death of Jo bid so I think that that's a very scary
00:16:06
place where you have one group of people who are being fed this extremely toxic narrative and I think that that part of
00:16:13
what you're saying Jason I agree with but I really disagree with the other part which is and this is someone again
00:16:19
as as someone who was a former Democrat I can observe this and be relatively rational here I don't see that from the
00:16:25
other side okay well you know the media is reflecting what is said by both candidates and both sides and they both
00:16:32
use very targeted language I'll put a couple of links in the show notes of both sides doing this and you can make
00:16:37
your own decision as the audience but I do think leadership would be both of them saying stop this violent language
00:16:45
and both sides do it like to address that too yeah sure go ahead just days before the shooting Peter te and Reed
00:16:53
Hoffman had an exchange at Allen and company that was publicly reported in which Peter said that Reed had turned
00:16:59
Trump into a martyr by funding lawfare and Reed responded I wish I had turned him into an actual martyr okay that's
00:17:07
wishing for someone's death when the news of the assassination attempt came online I don't think it was Jack Black
00:17:14
himself but a member of his band said that is too bad the shot missed there are other people on the Democrat side
00:17:21
who Express similar sentiments they were disappointed that the assassination attempt had failed now I don't think
00:17:28
those people are are mainstream political leaders so yeah that's that's that's just the distinction I wanted to
00:17:33
make here like there's yeah no political leader who said that I'm not going to try and hang that around Joe Biden
00:17:38
however Biden himself days before the shooting said that it was time to put Trump in the bullseye that's what he
00:17:44
said and his defense for that rhetoric was why didn't say crosshairs well I think Bullseye means the same thing now
00:17:49
even that I I'm willing to basically forgive because I don't think Biden meant it in a literal sense I think he
00:17:57
was speaking rically about say campaign ads things like that I wouldn't necessarily say that was violent
00:18:03
rhetoric okay I'm not going to try and pin that on President Biden but but the thing I do think was unacceptable by
00:18:11
President Biden and the Democrats is a level of demonization and the level of vitriol that they have pursued against
00:18:18
President Trump not as a one-off statement but as a campaign strategy again they have said over and over again
00:18:25
this man is Hitler this man is a fascist this man is a threat to democracy if he wins it is the end of democracy
00:18:32
they have repeatedly gone there and repeatedly used they tried to Hitler him now if you're saying that this man is
00:18:40
Hitler where else is there to go rhetorically that's the worst thing you could ever say about somebody and quite
00:18:47
frankly if he is Hitler why would you be offering him thoughts and prayers after
00:18:52
he gets shot I mean wouldn't it be a good thing to shoot Hitler and so I do think that you know if we think about
00:18:59
the contribution of political rhetoric to what could have happened here I'm not going to try and blame anybody for these
00:19:04
one-off poor choices of language that could be interpreted as violent what I will blame them for is taking the
00:19:11
demonization up to 11 taking the vitri all up to 11 because that could poison the mind of someone who's already
00:19:19
mentally Disturbed and say okay well wait a second if he is Hitler why wouldn't I be Colonel van Stenberg for
00:19:25
assassinating him wouldn't I be a hero for trying to eliminate this man and that's the thing that I think is really
00:19:32
unacceptable and I do think the Democrats should be blamed for that because again they made it a campaign
00:19:37
strategy their entire argument against Donald Trump is not about issues it's about this man being Hitler and I think
00:19:44
it's ridiculous it's inflated it's h hyperbole to be sure and I think that we don't know yet about the mind of this
00:19:52
shooter this Crooks but if anything contributed to the shooting it was that JD Vance referred to him as Hitler as
00:20:00
well other people inside the Republican Party have referred to him as Hitler and
00:20:02
a threat to democracy so there's plenty of blame to go around to correct sex that happened over eight years ago as
00:20:08
like part of a text message exchange it wasn't public rhetoric as a campaign strategy I'm talking about a systematic
00:20:16
strategy that gets Amplified look at the cover of the new Republic they literally
00:20:20
turned Donald Trump's face into the face of mashup of him and Adolf Hitler and it's been Amplified and repeated over
00:20:29
and over and over again on MSNBC on CNN on all these liberal channels okay this is coordinated political rhetoric as a
00:20:37
campaign strategy it's not a one-off I'm not going to blame anybody for a one-off
00:20:41
that could be misinterpreted but when you do this as a systematic campaign strategy and in fact
00:20:47
you base your entire campaign around the idea this man is a threat to democracy and a fascist this is the language they
00:20:53
used like I said there's nowhere else to go after that where else do you go threat threat democracy I think is a
00:21:00
valid criticism of trump calling him Hitler yeah probably insightful so yeah I think reasonable people can parse this
00:21:09
and it is something that has occurred on both sides it's well documented and both
00:21:14
parties can do better I think like one thing that when the investigation happens into what happened here and we
00:21:22
really figure out what happened in the Secret Service how many examples do we need of institutions where we put in our
00:21:29
trust just like letting us down and they just seem to be piling up and it's independent of administration and at
00:21:37
some point I think we have to like really check ourselves and say what has happened here like how do we objectively
00:21:43
measure the quality of the people that are supposed to be working in these organizations and and how do we make
00:21:47
sure that they are actually confident doing their job ke this is the key point trth is uh the outcome you know how do
00:21:54
we judge people outcomes and if you look at the outcome how the secrets service director hasn't resigned now I mean I I
00:22:01
know she's had a storied career and and she's probably a good person who's done plenty of great things in her career I
00:22:06
don't know the details of it but if the outcome of what you've done results in something this tragic and that could
00:22:12
have been avoided the proper thing is ownership and resignation and or the people who run this organization or they
00:22:19
answer to being fired and so this absolute acceptance of mediocrity is something that has to change is it an
00:22:26
acceptance of mediocrity or is it that they just got completely distracted on things that are not gerain to doing
00:22:34
your job so you know if if it was we need a diverse Secret Service or we need to have
00:22:43
inclusion all of those things have nothing to do in my mind about protecting somebody there are
00:22:48
characteristics and I suspect that there are women that embody these characteristics as much as men that
00:22:52
embody these characteristics but why isn't there a psychographic way of determining who the best people are that
00:22:58
have the protective instinct to protect the most important people that run our country there's a very simple test here
00:23:04
the job of the Secret Service is to jump in front of a bullet as we witnessed in
00:23:07
order to jump in front of a bullet you have to be bigger than the Target right you have to be so a 6 foot2 woman who's
00:23:13
four feet wide just as qualified as a man who 6'2 four feet wide for that job description you have to be brave enough
00:23:18
to jump in front of a bullet I don't know if you guys saw but there was like a thing where and and I feel bad for
00:23:23
this woman who's being derided as being totally incompetent the one in the field
00:23:28
but was a David Attenborough voice over of her trying to put her gun back in the
00:23:32
holster yeah I mean apparently I think Eric Trump said she's incred the the Dei Another Day memes yeah this is just I
00:23:40
mean it's a very unfortunate say that she's like the best person ever I think he was trying to support her at she may
00:23:47
have just had a bad moment who knows I mean I it did look pretty bad that she was having trouble holstering her weapon
00:23:51
I mean you know not that I'm a gun adrenaline running at that moment in time but I mean look it's what's known
00:23:57
as an outside the waistband holster which is the easiest type of holster to use cuz it's you don't have to tuck it
00:24:02
into your pants or anything like that and I yeah I got to say it it does look pretty bad that she was having so much
00:24:10
trouble just trying to holster her weapon but look I think this is only one of a number of questions that I think
00:24:17
have been legitimately raised about the Secret Service performance and we need a
00:24:22
full investigation to figure out what happened and let me just you know let me just run off a list of questions that I
00:24:28
would like to see answered so number one is how do they fail to cover that roof it was the most obvious shooting spot in
00:24:35
that entire Butler Farm area and it was not properly covered and then the Secret
00:24:40
Service releases this statement that they didn't cover it because it was a slope roof which is the most ridiculous
00:24:45
cover story ever because they did have snipers on another roof that was more sloped and five times more slop that
00:24:53
sounds like a lie right so once you put out that that cover story which is basically a lie you only make the
00:25:00
situation worse and it only makes the question even more poignant of how do you fail to cover that roof okay did you
00:25:06
see the picture of Secret Service on top of the White House roof which is extremely sloped even more sloped than
00:25:12
the I mean it's just ridiculous and the Secret Service director cheel said that on ABC okay so right there she should be
00:25:19
fired because she's lying to us at a moment where she should be cooperating and doing a full investigation okay so
00:25:24
and isn't it true that they were inside the the the the structure wased inside the building and outside it was proba
00:25:31
okay but that's just question number one okay question number two is like you said he was a person of interest an hour
00:25:37
before the shooting and no one went to go resolve that situation moreover they see him with a range finder okay what
00:25:45
the hell do you use a rangefinder for I mean he's scoping out the target with a rangefinder and they they let the
00:25:52
president go out there okay while they still have a person of interest out there this guy has a rangefinder he has
00:25:57
a ladder has a backpack and he was never intercepted he was never stopped even though they had identified him and they
00:26:03
let the president go out there so clearly there was a huge failure of communication between the Secret Service
00:26:08
and the Trump campaign how did that happen how was there no agent stationed at the fence such that they had to Ram
00:26:14
it with a SUV for the Secret Service to get through I don't know if you guys knew about that part of it okay no no
00:26:19
say that say that say that again there was no agents stationed at the fence okay so in order to get there they
00:26:25
rammed the fence with an SUV so the Secret Service quick get through oh my gosh okay that's insane and what harm
00:26:32
would have come from just taking a half hour and have Trump have a cup of coffee
00:26:37
and then go make sure that this person is not danger like exactly I'm just thinking judgment wise listen I
00:26:43
understand they're in the field I understand they have I understand if like they were concerned maybe that's
00:26:47
one of our snipers on the roof like maybe there was a moment like a 30 second moment like I'm trying to give
00:26:53
them the benefit of Doubt here but it's hard to the secrets are a sniper who did
00:26:57
an incredible job taking out the the shooter in one shot okay he had that person lined up so again you know why
00:27:05
haven't they released that the um the audio there must be an audio recording of all the chatter on their earpieces
00:27:11
their communication 100% that sniper must have identified you know Crooks as a potential Target and had him lined up
00:27:18
which is how he was able to take him out very quickly but what was the chain of command there in terms of him seeking
00:27:24
authorization hey who is this person why wasn't everything stopped while they go
00:27:28
to figure out what this person is doing on the roof there okay and then once once the the shots rang out and and
00:27:35
Trump gets shot why did it take him so long to get him in the car to get the Convoy off to a hospital there was a
00:27:41
long delay in terms of just getting him out of there so they clearly weren't prepared for that the whole thing it
00:27:47
just you know reeks of of incompetence yeah and they don't have a great track record of being honest about what's
00:27:53
going on they you remember not to bring up January 6 again but they deleted all their Texs from January 6 like they do
00:28:00
not they circle the wagons they do not want people criticizing I I doubt we're even going to get that audio I wonder if
00:28:06
that audio is going to come out but they they don't have the right in a democracy
00:28:10
to basically investigate themselves and say oh we're good no that's not how it works the the people of this country
00:28:16
need accountability I mean the the once and likely future president came within millimeters centimeters of being
00:28:24
assassinated and this whole country could have been plunged into a whole different type of situation we need
00:28:29
answers to these questions and this director cheel is obviously in the way and putting out nonsense putting out
00:28:36
spin at a time we need a proper investigation that needs to happen immediately cheel should resign we need
00:28:44
to have agents okay Secret Service agents need to be offered up to testify on Capitol Hill with no fear of reprisal
00:28:51
from the binden administration okay snip be sniper the first person that needs the first person that needs to that
00:28:59
needs to speak in a congressional hearing is the sniper himself did you guys see there was coverage yesterday
00:29:04
that showed there's actually two snipers and the current the Cent well no sorry there's two sets of snipers there's four
00:29:10
snipers the one set of snipers that you see the video of where he does that there's a tree blocking their ability to
00:29:16
see Crooks the other set of snipers are the ones that apparently took the Fatal shot and they had a line of sight but
00:29:24
they're not on camera so you don't actually see what's going on with them that's the current
00:29:29
rep I've seen on it so I don't want to like J to conclusions given that there's now seeming there's no excuse here
00:29:35
because let me just say if they saw the guy on the roof and they let the president on the stage someone effed up
00:29:41
that doesn't seem why not have a delay like not the end of the world if we can put that um that bird's eye view of
00:29:47
Butler Farm on the screen I don't know Nick if you have that Nick pull it up where it shows the line of sight with
00:29:52
the tree as well so you can see it all yeah there is but look at the shooter's position and look at at Trump's position
00:29:57
okay and and I've seen broader Birds Eye views of of Butler Farm without knowing
00:30:03
anything about Marksmanship it's just obvious that that roof is the most if you could set yourself up anywhere as a
00:30:10
sniper assassinate the president it's number one most obvious location furthermore let me just say that when
00:30:16
schoth and I hosted that um dinner for president Trump we worked with the Secret Service you know Advance team and
00:30:22
they were excellent they were really great and I saw just a little bit of their process and they went through the
00:30:28
house they mapped out the entire house the entire property then they asked well where's the president going to be
00:30:33
sitting at dinner they wanted to know who's to his right who's to his left they looked at the window coverage of
00:30:38
that room and they said okay whose house is that that neighbor's house and they went to go check it out every single
00:30:44
Movement by the president was mapped out every angle on the president was basically mapped out and explored what
00:30:51
happened here then like that's the crazy part it was actually amazing to watch I
00:30:55
thought they did a great job it was really amazing so this is why how could this ever have happened where the most
00:31:00
obvious shooting angle on the president was not properly covered it just makes no sense you could put two Blues up
00:31:06
there just two beat officers on there would have solved the whole problem if you don't have enough Secret Service
00:31:12
agents I I was at a Clinton benefit one time and I got detained by the Secret Service and went into secondary
00:31:19
screening the reason given I had two cell phones on me they thought it was peculiar that I had two cell phones they
00:31:24
kept me for 15 20 minutes in a side room and they literally took my phone apart in front of me took all the batteries
00:31:30
out went through every bag they Fred me I mean wanded me like three guys around me they take this incredibly seriously
00:31:37
yeah normally they're they're very thorough and they're very serious I mean look even at the dinner that we hosted
00:31:41
they wanted to know what kind of steak knives we were using you know they like literally they wanted to make sure that
00:31:47
that was safe and this is why they were so interested in knowing who is to the president's right and to his left
00:31:53
because they want to think through every possible angle of attack on the presid it there was some breakdown here and in
00:31:59
this case it something very strange happened and of course as I was just sort of alluding too early if this
00:32:07
person looked like a SWAT member which apparently he did fatigues you know rang finder all that stuff I'm guessing that
00:32:15
maybe those snipers from the Secret Service thought those were friendlies that's the only possible explanation of
00:32:21
why they paused yeah but he wasn't dressed that way he wasn't he wasn't wearing uh he wasn't wearing a costume
00:32:26
or he wasn't but even person laying there t-shirt the great fear you have as a police officer is shooting another
00:32:36
police officer so I think that dude he was not in a uniform from whatever number feet away
00:32:42
can I ask a technical question yeah are you telling me in 2024 that when you show up at an event
00:32:49
to protect a vvvip like the president of the United States yeah that SWAT and other people aren't given some kind of
00:32:59
like little pin that has an NFC chip or something where everybody knows who everybody is so that it's very clear
00:33:07
very quickly when somebody in a position of risk is not on the home team they do
00:33:14
have ways of doing that right there is a when you're under are you telling me for
00:33:18
example like President Trump's pin or Barack Obama's pin or Joe Biden's pin doesn't actually have something in it
00:33:26
I'm I would be shocked if answers it's just a pin well this is what they're this is a report that they're
00:33:31
investigating that the delay in shooting the the sniper might have been that they
00:33:36
thought it was friendly so this theory is out there now and it's part of the investigation it is a potential one you
00:33:42
know I can tell you that that would be the nightmare scenario for the Secret Service is to shoot the local cop
00:33:47
honestly guys I hate to be the one to say this but we've just our institutions are incompetent there's a lot of
00:33:54
incompetent absolutely just like Afghanistan withdrawal remember that heads rolled there was no proper
00:33:59
investigation of why so many people died unnecessarily in that Afghanistan withdrawal nobody's fired for anything
00:34:04
anymore it's just ridiculous like and there's no resigning obviously nobody resigns nobody gets fired why would
00:34:11
anybody so if this was a company this would be a failing company why would you not strip it down from top to bottom and
00:34:18
rebuild it well exactly and I tweeted this counterfactual which is imagine if Elon had bought Twitter but he wasn't
00:34:25
allowed to fire anybody do you think would have been able to restore Free Speech do you think he'd be able to
00:34:29
restore innovation no if you're running an institution you have to be able to fire people when they don't perform but
00:34:37
we have lost that ability of our federal government so there's something that's very very broken here when people fail
00:34:45
they have to be held accountable or you don't get good performance right when institutions fail there needs to be a
00:34:51
question on why are we funding those institutions nobody geted why would you give more money to a failing company
00:34:57
You' never do this is the comment I put in the letter that I sent to that senior Democrat back
00:35:01
in October I don't see any accountability with respect to the programs that you pass bills to fund you
00:35:08
pass bills to fund these programs you stand up new institutions and then there is never a retrospective postmortem or
00:35:14
review on the performance of those institutions or the objective of those programs and yet we keep funding them
00:35:19
and asking for more money and eventually you end up with a decaying Empire like we've seen in history we need to have a
00:35:25
series of actions that drive accountability in federal programs and then a review on the intention of those
00:35:31
programs and make sure that they still hold and then we can move forward with new programs saaks is really right like
00:35:37
you cannot have the Secret Service investigate themselves on this one of course not and they deleted all their
00:35:42
text message and did a major cover up the last time around so you cannot trust them to investigate themselves no did
00:35:47
you see all those Senators chasing them up the stairs yesterday you see that I did see that it didn't say which
00:35:52
Senators it was I don't know if that was confirmed it was Blackburn what happened
00:35:56
so a bunch of the senator confronted the head of the Secret Service cheet is her name right yeah and
00:36:03
they confronted her and there's a someone video the whole thing on their iPhone of them saying we need answers
00:36:08
why did you let this happen here's the video Nick can show it here just watch itation attempt you ow
00:36:16
the you owe president Trump my gosh that's a bad video because what it does not show is the start and
00:36:26
the end at the start were all standing around her having a conversation and then they started to press her and she
00:36:31
said now's not the time this isn't the Forum then she took off they followed her and then she went into the Secret
00:36:37
Service secure room upstairs and blocked all the senators from coming into the room her Secret Service staff blocked
00:36:43
them so all the the guards said no you can't come in so they all got blocked out so the senators were pushing her for
00:36:49
some feedback for conversation for dialogue and she wouldn't engage yeah oh my gosh I've seen enough resign now get
00:36:56
out of the way proper investigation can be done total total total absolutely okay let's talk about the RNC a friend
00:37:04
of ours gave a talk and the VP was selected uh you did a great job bestie thank you what was it like to get on
00:37:13
that stage and I I have a bunch of questions about because it seemed like people are not sitting in in chairs
00:37:20
right they're just mulling about tell us give us the behind the scenes and what was it what was it like getting prepped
00:37:26
and doing all the kind of you have to review your speech like tell us all the details well let's see I mean
00:37:31
I started working on this about I don't know a week before the convention and they they sent me some ideas for remarks
00:37:37
and then I completely rewrote it with my research assistant/ writer and then sent
00:37:42
it to them and there was some back and force but by and large they let me do what I wanted to do do they give you a a
00:37:48
time like yeah the one thing the one thing that was kind of set was the time and they correlated the time with a
00:37:56
number of words so they said you got 6 minutes which is 600 words and so that's what we work towards and then the big
00:38:03
thing I had to learn was just how to use the teleprompter so they had these rooms
00:38:08
set up where there were teleprompters and I could do some training on how to you know read a speech using a
00:38:15
teleprompter what is that like like it's like it's just a matter of knowing where
00:38:21
to look and trying to stay natural but also using the prompter as a as a nemonic device and does the prompter
00:38:27
stop when you stop or how does that work there was actually somebody in the room
00:38:31
who is physically advancing the words as you're speaking okay and so there's someone who's actually working the
00:38:37
prompter and they will go get big Applause they'll pause it for you and you don't have to try to keep up exactly
00:38:43
exactly so that was probably the biggest thing to learn and then the other thing
00:38:47
about it is that you're speaking to a huge convention hall and so you feel like you really want to project in order
00:38:54
to kind of Reach people but at the same time you're really speaking on TV as you
00:38:59
guys know you'll come across as being kind of insane if you start like yelling into a TV set so finding the right
00:39:06
balance between speaking to people in the auditorium and speaking to people watching from home that's kind of tricky
00:39:12
and I'm reasonably happy with it and the most important thing is I got to say the
00:39:16
substance of what I said not universally popular right I mean you you basically called for an end to the conflict in
00:39:23
Ukraine and to stop funding Ukraine's defense against Russia and that's not a popular opinion in the Republican party
00:39:31
is that right well I went further than that I said that this was not an unprovoked War it was a provoked war I
00:39:36
said the Biden Administration provoked the war with with talk of NATO expansion you can just agree with that if you want
00:39:41
I think there's plenty of evidence for it that's what I believe I feel like you went out on a limb more than most other
00:39:46
speakers who kind of had a lot of good latory comments and you know promoted Trump yeah you could have pandered yeah
00:39:54
you actually went out with a strongly held opinion that is you know fairly contrarian right well I think that most
00:40:02
of the people in the Republican party and including most people on the floor actually agreed with me I think it took
00:40:06
them a second to process what I had said and so you know what I saw when I was up
00:40:12
there is I said that you know Biden provoked yes provoked the war and I think it was such a shocking statement
00:40:19
to a lot of people because we've heard the whole unprovoked Invasion narrative so many times that there were like
00:40:24
murmurs and then people got it and they started applauding I never actually intended it to even be an appause line I
00:40:29
just thought it was an important thing to State the truth as I see it on the record at the Republican convention and
00:40:35
that line did actually get Applause now a bunch of Ukraine stands were predictably outraged by what I said and
00:40:42
they were trying to claim online that somehow i' had been booed or something like that there were absolutely no booze
00:40:46
there were actually people applauding and then you know as I got deeper and deeper into the speech people applauded
00:40:51
it more and more it was very much a speech that attacked the forever Wars it attacked the warmongers and and
00:40:57
complimented president Trump for keeping us out of wars and complimented him for
00:41:02
being strong but also having the savviness and the ability to negotiate with our adversaries to keep us out of
00:41:09
wars and I think that's now a position that's very popular within the Republican party but it's a process it's
00:41:15
it's evolving this is a perfect segue because there were reports that friend of the Pod Tucker Carson had a big
00:41:21
impact on talking to Trump about his selection of JD Vance and said don't pick a neocon
00:41:27
that'll get you assassinated that was one report that was advice that came before the assassination attempt
00:41:32
obviously so conspiracy theorists are kind of losing their minds over this but let's talk about the selection of JD
00:41:38
Vance because that is a big surprise I think in many quarters tell us about JD Vance you're
00:41:46
friends yeah I mean I'm I'm friends with him and I very much supported his selection for for VP why is he the best
00:41:53
pick in your mind well there's a couple of things so JD Vance repres presents a couple of very interesting
00:41:59
characteristics on the one hand he's from this poor region of Appalachia that really represents the Forgotten man or
00:42:08
the Forgotten cities and towns in America you could call it the the Maga Heartland and so Maga really likes him
00:42:15
at the same time he's worked in Tech he was a venture capitalist he understands the future and he's popular in Tech so
00:42:21
it's very unusual to get somebody who has magga plus Tech on their side together so that's one almost
00:42:29
contradiction you could say that JD represents here's another one JD Vance was in high school when the Twin Towers
00:42:36
came down and then we invaded Iraq and he was gung-ho to serve and to go exact retribution and Justice on America's
00:42:45
enemies and he enlisted in the Marine Corps and he went off to serve in the Iraq War subsequently he realized that
00:42:53
we had all been lied to about the Iraq War and that it was a gigantic mistake and moreover the forever wars were a
00:42:58
huge mistake and to me this is something that I really appreciate about him and this is a quality that I really want at
00:43:06
president Trump's side which is he's an American Patriot he had the courage to serve to go serve in America's Wars but
00:43:13
he has the wisdom and the judgment to want to avoid those Wars when we don't need to fight them and there's way too
00:43:19
many of like you said Jason these neocons these warmongers in the party who've never ever acknowledged their
00:43:25
mistake in the Iraq war and all the forever Wars and they seem on virtually a daily basis to want to plunge us into
00:43:32
the next Forever War so this is I think a quality that's of Paramount importance
00:43:38
to have in our commander-in-chief and in the person who would be next in line to
00:43:42
be commander-in-chief so for these reasons I very much support JD all right so let me get some feedback from the
00:43:49
rest of the panel and just give you a couple of bullet points about him for those of you who don't know JD Vance
00:43:53
yeah he worked at Peter Tal's mythal capital and Steve cas's revolu tion and so he worked for a Republican and a
00:44:00
Democrat and Steve case started his own fir called naria capital and he went to Ohio State graduated y was uh actually
00:44:09
classmates with v they talked about that he's only 39 years old so he's half the
00:44:13
age of trump as you mentioned combat correspondent for six months in Iraq in 2005 39 years old and teal backed him
00:44:21
with I think the largest Senate race donation in history 15 million and so this is quite a
00:44:27
Ascension shth from Aventure capitalist to potentially vice president and obviously potentially president he's in
00:44:36
the in the second spot so were you a proponent of the JD Vance as well super the Press says you Lobby Trump as well
00:44:44
is that true he's superb I cannot say enough good things about this guy he's superb is superb he is
00:44:55
a he's a bit of an enigma I think as saak said because he his views are so unique and he comes from a
00:45:04
background that is very similar to mine so I have tremendous loyalty for the path that he had to navigate to get out
00:45:13
just to get out and I think that that you know I really care for people like that and then he's done really good
00:45:22
things with the resources that he's been given and the relationships that he's built and I really respect that too we
00:45:30
all read hillbilly elig I don't know if we talked about on this pod years ago but you and I certainly talked about it
00:45:35
a bunch to and you know he he came from nothing less than nothing less than nothing
00:45:43
addicts and his and um he talks a lot in his book I don't know if you remember this about social capital and the fact
00:45:49
that he didn't understand the name of firm is social capital people don't know the reference that he just didn't have
00:45:54
the social capital to even understand that a lawyer went to law school totally and you know he he is an enigma his
00:46:02
positions don't align with trumps in every case but they have quickly become aligned with trumps he's an incredible
00:46:08
pick yeah yeah I thought he was an incredible pick before his speech last night and he even exceeded my
00:46:14
expectations in that speech I just thought it was truly an incredible speech first of all the the introduction
00:46:20
by his wife Usha was really you know incredible I thought she did a fantastic job and then he got up there and I a
00:46:27
friend texts me who's not really that into politics he's just like this guy seems so normal he's happy he's normal
00:46:33
he seems competent there was one commentator I think on one of the cable shows who I think meant this as an
00:46:39
insult but it actually was positive he said that when you're at like a fast food restaurant something and need to
00:46:45
ask for the manager JD Vance is the person you hope is the manager you know he comes out he's friendly he's
00:46:52
competent he's reasonable he knows how to get stuff done I'm not sure if that was is an insult or a compliment insult
00:46:58
I can tell you that's insult yeah but I think it's a compliment right and he's just so normal he's going to be very
00:47:04
hard to demonize obviously they're trying to do it on cable news they're try somehow trying to portray him as an
00:47:10
extremist or a racist even though he has a mixed race family the tent of the Republican party at this RNC Sachs is
00:47:17
the most wideopen tent I've ever seen in politics they had Amber Rose and people
00:47:21
were criticizing Amber Rose she was excellent she was excent she was fantastic I thought her was excellent
00:47:26
she knocked ball out of the park and she's absolutely radi beautiful and she crushed it I thought speech was
00:47:34
effective I thought it was authentic and it described her red pilling basically she s it described her Evolution and her
00:47:40
journey from someone who believed the media's lies about Trump thinking that he was a racist to actually meeting the
00:47:45
man herself realizing that the way they had portrayed him was basically a a slander and how she became friends with
00:47:54
President Trump I thought it was an incredibly effective speech but look look there was very few people who
00:47:58
didn't like it there was this one post by you know Matt Walsh online and he was roundly denounced for what he said I
00:48:05
mean he kind of engaged in this Pearl clutching that they had allowed Amber Rose to speak because of her background
00:48:10
value judging and it's like who who's it felt like it felt like a part of the Republican party that's on its way out
00:48:18
you know this Pearl clutching social conservatism yeah in any event it was it was really an opportunity I think for
00:48:23
people to disavow his criticism and support her yeah and point here is what you know they've done a really great job
00:48:31
of and the did a wonderful job in his talk I want to give him a shout out of just saying Hey listen everybody can be
00:48:37
part of this party I think there's a lot of notes the Democrats could take from what they saw at the Republican National
00:48:42
Convention these are people who would have been at the DNC but you know one election cycle ago but because of this
00:48:49
purity test you can't even you know win with them let's take the obvious we're trending into a direction right now
00:48:56
where based on Donald Trump's pick for the vice president and some of the other surrogates like VI if Donald Trump were
00:49:04
to win what you're going to see is a very youthful cabinet of a lot of 30s somethings and 4oms and I think that
00:49:14
that's a really important thing to consider versus a bunch of 60 70 and 80y old career politicians correct
00:49:22
absolutely Youth and vigor and again this new Direction you know a lot of people were commenting about JD's speech
00:49:27
that large parts of it could have been given by Bernie Sanders or you know it's it it's this populist message that well
00:49:35
let me ask you that yes sax is he he's he's had a position of breaking up big Tech and being
00:49:43
pro-union what how do you reconcile all that and and this new Republican party yeah address those two because that
00:49:49
seems to be a big discussion two two discussion topics yeah I think that it's definitely a new emergent republ repan
00:49:57
party where this is I think this is Donald Trump's Republican party this is the Maga Wing the America First wing of
00:50:03
the Republican Party we're moving from a party of basically the Chamber of Commerce you know Business Roundtable a
00:50:10
bunch of oligarchic fat cats to being a populist party that actually represents the people and I think it's I think and
00:50:18
they had the the teamsters up there yeah and I I think it's I think it's a very welcome change and the part of JD's
00:50:23
speech that I like the best is when he described that hey I went off and many other people went off to fight in these
00:50:29
forever Wars risking our lives or giving our lives we come back to our home communities and what do we find we find
00:50:36
them hollowed out the jobs have all been exported the factories have shut down and instead the town has been poisoned
00:50:42
by fentol that is a message that you have not heard in the Republican Party except for Donald Trump and that new
00:50:48
part of the party and I think that Donald Trump choosing JD Vance was so important to cement this new vision of
00:50:55
the Republican party it was a legacy pick because it means that this America First Maga message is going to continue
00:51:02
into the future many years into the future and let me just tell you as I listened to that
00:51:07
speech I uh hearkened back to another speech at a republic convention I heard 32 years ago I'm sorry to say I'm old
00:51:15
enough to actually remember these things and I remember Pat Buchanan speech in 1992 and after he Pat described the
00:51:23
factory workers who lost their jobs I just wanted to read what he said and I want you to think about what what JD
00:51:29
said so what Buchanan said was my friends these people are our people they don't read Adam Smith or Edmund Burke
00:51:37
but they come from the same schoolyards and the same playgrounds and towns as we
00:51:41
come from they share our beliefs and convictions our hopes and dreams they are the conservatives of the heart they
00:51:46
are our people and we need to reconnect with them we need to let them know we know how bad they're hurting they don't
00:51:52
expect miracles of us but they need to know we care and I think that for two long Republican leaders ignored that
00:51:59
advice they didn't connect with everyday Americans they were foolishly willing to
00:52:04
cut programs like Social Security or Medicare saying that we had to uh cut the the deficit while at the same time
00:52:10
funding forever Wars so they're totally not credible and the party was basically
00:52:16
led by warmongers like Dick Cheney or Mitch McConnell or soulless Bean counters like Mitt Romney and Paul Ryan
00:52:23
and I think Vance really broke with all of that and I think he represents the the future of the party he trashed the
00:52:32
Iraq War he promised no more foreign interventions he railed against policies that benefit multinational corporations
00:52:39
at the expense of workers and I think it's no wonder that the neocons lobbied so hard against his selection yeah but I
00:52:47
think freeberg let's get you I think those days are over and I think that just me to say this end with this that I
00:52:53
think that Donald Trump and JD Vance represent a conservatism of the heart that we haven't seen before and I
00:53:01
think this is the future of the Republican Party freeberg does JD Vance being selected tip your vote towards
00:53:07
Trump Vance ticket I think he's gonna do well for Trump uh I think if he what were who were his
00:53:15
other options Nikki Aly I mean there were pressure for him to go after a lot of the neocons right
00:53:22
saxs and get the never Trumper contingent wasn't that like a lot of the pressure absolutely I mean I think there
00:53:28
was there was Doug beram who was that that was your favorite no freeberg not my favorite I met him
00:53:35
seemed like a really thoughtful guy he's done an incredible job managing the state of North Dakota but he's got some
00:53:43
social policy issues that I think are going to rub people the wrong way and I think to Sax's point he's more in the
00:53:50
camp of supporting Ukraine which it seems like some part of the the party are starting to come around and say no
00:53:58
so it seems like he was in a great fit ultimately yeah by the way I I I met um Doug bergham the other night and he's a
00:54:04
very nice man who I think can play a very important role very nice guy who I think can play a major major role in the
00:54:10
part incredible business sold it to Microsoft yeah there's nobody who understands I think energy better and
00:54:15
all the regulations that have gotten in the way of making America energy independent and tapping our vast energy
00:54:21
reserves so I found him very very impressive on that but at the end of the day you know it's it's just not the the
00:54:28
the kind of pick that JD is I remain a moderate undecided voter I love JD Vance I think it's an inspired choice I know
00:54:36
saaks where you're voting I'll take some guesses on youth but freeberg where are
00:54:40
you stand right now I'm very happy that RFK Jr was not selected as the VP why to
00:54:47
be on the the ticket I think RFK uh would have been a challenging partner for Trump and it would have led to a lot
00:54:54
of disagreements and I think that RF K has some policy perspectives that I don't agree with particularly as it
00:55:01
relates to Health Energy Agriculture and so there are some disagreements I have with respect to his
00:55:09
view of the world I will say JD seems like a pragmatist he seems highly intelligent
00:55:16
he seems highly competent and I I know that he has not been in a governing position before right so this is really
00:55:24
critical to to note this is a train job for him in a large way he's been a senator and he's been an investor and
00:55:32
he's been an individual contributor as an investor he's built his own firm but it's not a scaled firm so this is going
00:55:39
to be a a really interesting kind of process to watch unfold but I think from a policy and a strategy perspective
00:55:47
he can have a really positive impact on the direction of the things that we talked about earlier which is
00:55:52
accountability in government programs having a clear set of objectives making sure that we focus on those
00:55:58
objectives and don't spend time and resources on things that are fluff and perhaps aren't really meeting the
00:56:06
objectives and I think that he'll have the thing I do have concern about I think that the Nationalist agenda the
00:56:12
the nationalism and the isolationism agenda is counter to global trade which can be deeply inflationary and that is
00:56:21
one concern I do have which is the ability for the US to export and import with other trade Partners around the
00:56:29
world I think is critical for us to continue to grow our economy and keep inflation down so if we take policy
00:56:36
action that limits our ability to import because we impose tariffs on other Count's goods and services it can be
00:56:43
inflationary makes things more expensive for Americans everyday Americans to buy
00:56:47
when everyday Americans go into Walmart and they buy products a lot of those products are shipped from China so if
00:56:54
there's a tariff on those products and the price of those products now goes up by 30
00:56:58
40% that can be a real burden that drives inflation that's the point about the nationalism on manufacturing and
00:57:05
inputs so freeberg you're pretty convinced at this point that a reciprocal trade
00:57:10
agreement would cause inflation hyperinflation no no I think I think that the idea the general statement
00:57:18
which I don't think is necessarily how this is being executed I just want to make sure that we're all cognizant of
00:57:21
the point that if you introduce and if you introduce tariffs on reports it will drive prices up now that may be the
00:57:30
right thing to do from a policy perspective as we heard from from president Trump when we interviewed him
00:57:35
his belief is that this is an important security stick that we use it to drive reciprocity and we use it to hold China
00:57:43
in check and so that may be a more important strategic priority over the increase in the price of certain Goods
00:57:49
the problem that will arise and this is this happened during the last Trump Administration if China then responds
00:57:55
with tariffs on the export of us agricultural products so our biggest buyer of agricultural products today is
00:58:02
China and then China put tariffs on our export or they stopped buying from the US and they started buying from Brazil
00:58:09
instead the farmers are hurt and when the farmers are hurt the Trump administration had to spend money to
00:58:15
support Farmers tens of billions of dollars yeah they subsidized it they subsidized they paid farmers in a in a
00:58:22
way and so the federal government then has to step in to meet the gap that arises from what will end up becoming an
00:58:29
escalating tariff problem or an escalating purchasing problem so global trade allows the economy to grow gives
00:58:35
everyone a market you can start to trade but there's also these security issues I
00:58:40
do think it's important that we onshore a lot of manufacturing I think it's important but there's going to be a
00:58:44
period of pain there's going to be an investment needed and it's not going to be simple and easy and we may face quite
00:58:50
a bit of inflation on the path to doing that give us an update here at the end of the show freeberg on scholarships
00:58:55
people been asking for the all Summit so this week we are opening up scholarship
00:59:00
applications you can go to summit. Allin podcast.co and uh we have a very very very limited number of scholarship
00:59:09
tickets that we hold for the summit like we did the last two years the applications are open now please get
00:59:15
your application in right away because we expect it will be completely overbooked almost immediately and some
00:59:21
of those scholarships are going to be sponsored by athletic Brewing Company so thank you to athletic Brewing Company
00:59:26
we're paying for a lot of our scholarship recipients to go to the all Summit this year really exciting
00:59:29
programming coming together we have more details to share in the next couple weeks and we do uh we we do have one
00:59:35
more last block of GA tickets that we're going to release get your application in
00:59:41
on the website summit. Allin podcast.co for a ga ticket for the last block thank
00:59:46
you all right let's just do one quick business story here since we spent the bul of the episode talking about
00:59:51
politics and current events exits creeping back stoy is doing a secondary sale of their stripe investment one of
00:59:59
the greatest Investments of the last decade and Google is in talks to acquire whiz and this is absolutely amazing news
01:00:10
for the industry which has been suffering from a lack of distributions as you can see in this chart chth after
01:00:16
2021 exit values just plummeted and there are some signs of life now let's start with Sequoia buying
01:00:26
back some stripee shares from its own LPS sequa Capital has invested 517 million in stripe that's currently worth
01:00:33
about 10 billion 20x Michael Moritz uh led the seed in series a skoa offered to buy back 860 million in stripe shares
01:00:42
from LPS and its Legacy funds those are the funds between 2009 and 2012 sooa is using capital from their newer funds
01:00:51
like it's Evergreen fund that was formed in 2021 the Heritage fund that's their wealth management team
01:00:56
to give the Legacy fund some liquidity it's not normal that a company stay private this long it is the exception to
01:01:04
the rule but it has happened actually happened with Uber to a certain extent so Legacy fund LPS have the choice Sachs
01:01:12
to hold sell some or sell all of their shrip shares here's the quote from the note seoa personnel and Associated
01:01:19
persons will not be offered the option to sell stripe shares previously received as carried interest
01:01:23
distributions from the Legacy funds and they are are offering 2750 a share which
01:01:27
is pretty generous $70 billion valuation as you may know stripe has hit as high as 100 billion in market cap in the
01:01:37
private markets so this will be a from the seed which was a 20 million post a 3500x for those
01:01:46
LPS and for the series a it is a100 million post which is 700x for those people who don't know I think it was Sam
01:01:55
mman who did that investment as a sequa scout in the same fund that I did the Uber investment so still the number one
01:02:02
and two Investments there your thoughts jth on this unique opportunity and device to sell early
01:02:08
shares from the same Venture fund I have two thoughts the first is that it's interesting to see that
01:02:15
they Mark the valuation up to 70 billion so that's a good sign for stripe but the second thing is I was a little
01:02:25
kind of puzzled by this whole thing it's a very complicated thing when you're buying old Stakes into a new fund and
01:02:33
Crossing funds it's sort of like actually one of those things that are supposed to be verboten and when you're
01:02:39
trying to build a good fund with great governance this is actually at the top of the list of the things that you're
01:02:45
never supposed to do which is to provide liquidity to a group of LPS via another fund that you control
01:02:54
but I think the this actually shows what may be going on behind the scenes so I don't want to be conspiratorial or
01:03:01
anything but it would be a great way for the GPS to get liquid to meet their Capital
01:03:07
calls here without having to pay capital gains tax and that makes a lot of sense
01:03:11
for the GPS themselves and so I suspect that that probably well they did say that the the GPS aren't going to get to
01:03:18
liquidate anything so they did put that note in there so they've anti you provide you can provide no meaning but
01:03:25
that what that means is you can provide liquidity you don't get to pull the money out that's fine but then now you
01:03:29
can use it to fund Capital calls but I don't like it I don't like these kinds of like things where One Fund is
01:03:35
basically scratching the back of another fund it's it always tends to be the case
01:03:39
that this stuff on the surface looks a little smelly and can be a little unseemly and this is why you're not
01:03:47
supposed to do it you're supposed to go and get some other random fund to buy these things and I think it's generally
01:03:53
a much cleaner thing to do and the hygiene of it is clearly what we see Sachs in that documentation giving
01:04:00
people choices you can make your own choice we're not taking carry we're not selling our shares but we're and we're
01:04:06
only selling 10% so they they did go to Extreme Measures I guess to outline that
01:04:11
but your thoughts on this uh type of sale it happens in private Equity all the time I understand but we don't see
01:04:17
it in Venture all that often what what are your thoughts on this providing liquidity to the 14year old funds well
01:04:23
first of all there's a Kid Rock concert going on behind me distracting for no no it's been uh it's
01:04:28
going to be lit that's all I can say if he's introducing president Trump it's going to be pretty baller tonight uh
01:04:34
we're taping on on Thursday obviously uh this episode will probably come out tomorrow but in any event with respect
01:04:40
to the Sequoia thing look I think there there's this this overarching issue of the fact that VC funds are classically
01:04:48
designed to be 10-year funds the money is called over time usually over the first few years it's invested and then
01:04:56
you don't get liquidity I mean it's not like a mutual fund where you can take your money out you get liquidity if and
01:05:01
when the fund gets liquidity and these funds are meant to be long-term IL liquid Vehicles so like I said 10 years
01:05:08
and typically you can get two one-year extensions to the funds so then the question is what do you do at year 12 if
01:05:14
you still got positions in those funds well I think a pretty good solution is what I think sequ is doing here and what
01:05:20
I've heard other people do which is if you have a security that's not public yet but is semi liquid because it's a
01:05:26
very late stage private company then what you can do is spin those shares into an SPV or to some other vehicle and
01:05:35
you let new investors come in and buy those shares at some price and then you give the option to your old investors do
01:05:44
you want to sell or do you want to roll into the new vehicle so nobody is forced
01:05:49
to give up their ownership position but if they want to get liquidity and there's sufficient Demand on the buy
01:05:54
side that you can get get them that liquidity it's a really elegant solution I can't say I know exactly all the
01:05:59
details of what SEO is doing because they've got this two-tier fund structure that makes it a little different but I
01:06:04
have seen in other cases people have distributed shares into an SPV and then new buyers can come in participate and
01:06:12
then the old investors get to decide whether they roll or sell so it's a pretty good way of handling valuation
01:06:21
just to uh sorry I didn't clarify this valuation is based on the four last 49a so that's the one thing about SEO that's
01:06:26
a little different is remember it's their kind of like Global Mega fund that's buying the shares as opposed to
01:06:31
an SPV normally what would happen in terms of figuring out the price is you'd want to use some sort of validated
01:06:38
secondary price but obviously it' be have to be a market clearing price where new money wants to come in at that price
01:06:45
and this is a little bit different because it's their pre-existing fund that's buying at that price and so how
01:06:53
do you sanity check the valuation and I guess I would just want to make sure that yeah that that valuation is a
01:07:02
secondary yeah it's like the secondary that's what it's trading at in secondary markets and that's what the 49a is so I
01:07:07
guess that would be the hygiene there but it's certainly unique and uh I guess great for those
01:07:13
lless well I mean we uh we had a similar thing happen with Uber where they did the secondary and um you know they they
01:07:22
had masi yoshian masi yoshian come in and do an that's entirely different yeah you had
01:07:28
you had new money coming into your point so here is the Second Story related to DPI and uh VC's getting to cash out
01:07:36
Google's in advanced stocks acquire whiz for 23 billion according to the Wall Street Journal it's an Israeli American
01:07:41
cyber security startup that was founded only in 2020 backed by sequa index insight and Tron and others one of the
01:07:48
fastest growing startups ever reaching 500 million in AR in 4.5 years Google would be paying 46x forward Revenue they
01:07:58
think they'll have a billion in ARR sometime next year and um what are our thoughts this
01:08:06
in terms of m&a you saw it on this AT&T hack of snowflake but Cloud security is a really
01:08:15
big deal the more cloud services you have the the more difficult it is to lock these things down and so whether
01:08:21
it's Google or Amazon they have a or aour they each have a really big problem on their hands which is that if all
01:08:28
these customers are convinced to move these workloads into the cloud but then you can't secure it and you get hacked
01:08:34
that ends the business so whiz is an incredible Testament to I guess engineering prowess I don't exactly know
01:08:40
to be honest with you the quality of the product obviously I don't interact with
01:08:44
those kind of products every day but the fact that they're willing to pay such a
01:08:47
premium means a the product is good but more importantly B in the absence of cloud security these Cloud vendors are
01:08:55
going to be constrained in in how fast they can grow so what an incredible Market what
01:09:02
an incredible incredible Market I have to say these two things have really helped the climate in the lp Community
01:09:09
um this past week a lot of chatter about IPOs that are getting filed and that we
01:09:16
could be ending the drought and people were feeling very very um pessimistic about Venture as a
01:09:23
category and I think these two things have changed a lot of people's feelings on
01:09:28
that so good work there and I think it also signals maybe some regime change expectation sacks yeah Lena Khan maybe
01:09:37
getting booted uh when this regime change occurs and next year and then maybe more m&a would occur what what's
01:09:45
Trump's and JD Vance's position in your mind on m&a and Lena Khan saxs if you had to interpret it well something
01:09:54
that's very interesting is that JD Vance has been relatively positive towards lenina khon he's yeah that's the weird
01:10:01
he's one of Lena con's few Republican fans and the reason for that is because Lena Khan for all of her faults and
01:10:08
we've described them here has been willing to take on big Tech the fact of the matter is that the top handful of
01:10:13
tech companies the microsofts the the Googles Amazon these are Big Tech monopolies there's just no way around
01:10:21
that fact and they do need to be closely watched and supervised and regulated with respect to their
01:10:27
Market power and I do think they use their Market power in inappropriate ways if we've discussed on this podcast I
01:10:33
sometimes think that lenina Con in her approach has been a little bit more of a Cleaver when she needed to use a scalpel
01:10:39
I don't think that she should stop some of these what I would call R&D Acquisitions from taking place where
01:10:45
there's no accretion of market share but rather Stars being bought because they contribute a useful piece of technology
01:10:52
I don't think you want to shut down that part of the market Lord knows we don't have enough exits as it is like we were
01:10:57
just talking about so I think you know it would be great if we could kind of massage Lena Khan's approach a little
01:11:04
bit but I think that it is a good thing that she's not willing to just roll over
01:11:08
and let the big tech companies do whatever they want and I think JD Vance appreciates that about her so look I
01:11:13
don't think that L Khan's going to be running that agency in a second Trump Administration but I think how much the
01:11:22
problem with Republicans so saxs is the freedom of speech issue and Republicans being banned on the social
01:11:30
platforms including it up to Trump I mean if that issue wasn't there I think you would probably see maybe a different
01:11:36
approach yeah well I think it's a huge issue because the fact of the matter is you've got these Tech monopolies who are
01:11:42
using their monopolistic Market power to put their thumb on the scale of our political discourse in favor of one side
01:11:49
versus the other so obviously if you're on that side of the aisle you're going to be up in arms about that you're not
01:11:54
going to be happy about that and I do think that given their Market power they have an obligation not to distort our
01:12:02
democracy by artificially suppressing one side of the debate yeah so I think that yes Republicans should be up in
01:12:09
arms about that and they should be resisting censorship and JD evance specifically mentioned censorship in his
01:12:16
speech that seems to be his main issue I think we'll see under Trump a lot more mid-market m&a if I were to you know
01:12:23
let's call it under 100 billion dollar hundred billion do acquisition would be fine with me under 100 well I I really
01:12:29
like the part of his speech where he said that in a healthy democracy we we debate ideas and that's good we even
01:12:34
have debates in the Republican party and that's good the last thing you want to do is censor the marketplace of ideas
01:12:40
gosh I mean are we going to hear anything like that from the Democrats when they do their convention well in
01:12:44
breaking news as we wrap up this program the hot swap summer will continue apparently Biden is predicted to resign
01:12:52
this weekend we'll see if it happens speedrun primary noas is predicting it happens with nois
01:13:01
Sor nois will keep his position the hot swap is coming well Jal at this point I think you're you were right about uh
01:13:08
Biden stepping aside I thought he was out of the woods he did that press conference that NATO press conference
01:13:15
where he did make that one mistake that senior moment where VP yeah oops but that was the kind of thing where he got
01:13:23
his name mixed up but yeah other wise he sort of seem to be finding his footing in terms of talking about policy and the
01:13:30
brush fire was sort of put out right but then for some unknown reason he goes on and
01:13:37
does that ler hold interview I don't know why they were still letting him do interviews he should only be reading
01:13:41
from a teleprompter and he mixes up he's he forgets the name of his secretary of
01:13:46
defense Lloyd Austin and he just refers to him as the black man the the BET yeah
01:13:51
it was a BET interview so he did the Lester hole interview which was not good and then he did the BET interview which
01:13:56
the money up right chth so once the money goes it's over well yeah and he he also did a a horrible one with 360 with
01:14:03
speedy speedy Mormon and that was a train wreck there was a couple moments there that are just total
01:14:09
gaffs they they say Pelosi and uh Schumer told him it's over and I guess that mean and kenberg you're right Jason
01:14:16
when the big money is gone and they make the call you know yeah it's done it's done isn't that amazing what we've
01:14:23
learned about the Democratic party you know know like the the coup deoss was basically kenberg going in there say
01:14:29
yeah I can't raise any money for you and then boom he's out I am shocked that any
01:14:34
political party would be swayed in any way by political donations enjoy the uh enjoy the RC sacks I love you guys I
01:14:42
gotta go dinner love you guys talk to you soon for the chairman dictator the architect David sack and your sulan of
01:14:49
science who ducked out a little bit early I am the world's greatest moderate moderator we'll see see you next time
01:14:55
bye love you [Applause] byee let your winners ride and instead we open source it to
01:15:07
the fans and they've just gone crazy with it love you [Music] Queen besties are that's my dog taking your driveways
01:15:25
yeah oh man my meet we should all just get a room and just have one big huge orgy cuz they're all just useless it's
01:15:33
like this like sexual tension that they just need to release somehow we need to get merch
01:15:47
[Music] our I'm going all in