00:00:00
you want to see something look at my eyes look look at my eyes look at his eyes it's [ __ ] contagion over here
00:00:05
brosi what happened you have conjunctivitis yeah double eye I got it from my daughter I think he got
00:00:10
something in his eye and then I got this like [ __ ] allergic reaction to it it is a it I'm just messed up dude for two
00:00:15
days now I haven't been able to see okay well let me tell you about this weekend
00:00:18
which was the most [ __ ] exhausting weekend of my life I mean where do I even start okay here's here's
00:00:25
where I start so I [ __ ] fly home from Italy from Italy y back in the arena 35,000 ft I I decide to troll the mids
00:00:34
oh no we'll talk about that later but anyways sipping a beautifully chilled white burgundy by trolling the mids you
00:00:40
mean that you were occupying their airspace you were flying at the level of commercial Jets he did a flyby instead
00:00:47
of 45,000 ft instead of 45,000 ft I went to down where the public airlines fly and I was like mid mid mid came
00:00:58
back let your winners [Music] rain David and in said we open source to the fans and they've just gone
00:01:09
[Music] crazy I land in LA and uh I go straight to house I land at like you know I get
00:01:19
there like 1:30 or 2:30 or something 3 o'cl something around there in the morning I take a no in the afternoon
00:01:25
take a ice bath and boom we start playing at 4:00 okay we start playing for the time it's not a big deal it's
00:01:30
like one day of Poker we play poker we finish at like 3:00 or 4 in the morning we're exhausted Kevin shows up in a
00:01:35
wheelchair cuz he had pulled his [ __ ] abdomen Kevin Hart Kevin Hart in a race with Steven Ridley he had a 40 yard dash
00:01:43
with step Ridley pulled pulled all this musles like door I think you mean a 40 in dash if it was Kevin Hart that's a 40
00:01:50
inch Dash anyways Kev Kev pulls all these muscles the door in the car opens and the wheelchair comes and he Wheels
00:01:57
himself to the table and I so that was the beginning I was like this is like a this is an odd way to start poker we
00:02:03
play till 4 in the morning go to bed wake up do our thing start the game again Thursday at
00:02:11
4: okay we play again till [ __ ] 3: or 4 in the morning wake up we go to bird bank at 10:00 and we fly to Port of
00:02:19
aarda for Bater party it's unbelievable okay 10 bedrooms huge Compound on the beach the whole nine yards we start
00:02:28
gambling on the plane I just want you guys to know that we slept 9 hours in 4 days and we just kept playing and
00:02:36
playing and playing at one point said and this is exactly how the interaction went said hey guys maybe we should go to
00:02:43
the St reges for D and then as soon as he was about to say dinner I was like shut up keep
00:02:49
playing the point is that we played from the plane in the car we played on an app
00:02:56
then we played in the house the food was served buffet style it all decorum just
00:03:01
went away we didn't do anything we didn't leave that house we didn't walk on the beach we didn't [ __ ] nothing
00:03:07
you didn't put your feet in the ocean I played until I landed in Moffet on Monday
00:03:14
afternoon can you [ __ ] believe it it's so it's like almost like you know six days straight of Poker I will say
00:03:20
this it's an incredible house the food was incredible I really wish I could have seen more than my bedroom and the
00:03:25
poker table I wish I could tell you that the Pacific Ocean was nice but I have no
00:03:32
[ __ ] idea you peed in a bucket you didn't even see the bathrooms in this house no I had the doors opened so that
00:03:38
I could run to my room and pee and come back I mean it yeah you don't want to waste time you it was the most Deen
00:03:44
weekend I've ever been a part of and and then all of us by the way we're so exhausted we slept for [ __ ] 10 hours
00:03:50
a day for like the last three days oh and by the way so smart you know you think it's a Bacher party it's like
00:03:55
there'll be girls be nothing not even the housekeepers were women everybody was man no
00:04:02
distraction no distraction it's just all dudes dudes cleaning the house dudes cooking dudes dudes doing this dudes do
00:04:09
that our one attempt to go offsite to go to a dinner was like no sit down the best he's the best that should pay for
00:04:16
some tequila research he's the best my Lord I just want to I don't want to make this into tequila part two but my email
00:04:22
is filled with 8,000 word tequila missives and overviews from fredberg and every tequila producer in
00:04:30
the world and my Twitter my ex is filled with posts about Jam's man in the arena
00:04:36
comments they have set off an absolute Fury as uh chth was alluding to so the man in the arena tweet I I don't know
00:04:45
the time stamp here looks like 10:22 a.m. I don't know uh what that is Italian time but chamat decided to say
00:04:51
I'm in the arena trying stuff some will work some wound but always learning you're anonymous and afraid of your own
00:04:57
shadow enjoy the sidelines and this of course was to some somebody who is criticizing a spack or something and I
00:05:03
think this person had eight followers and uh let's just go through the memes here here somebody with the AI
00:05:08
revolution has made a chth version of gladiator here is Russell Crow and chth DNA being mixed freeberg I didn't know
00:05:17
this was possible in DNA today but I guess there is a new actor storming Hollywood and it's chth Crow it's
00:05:25
Russell poopaa beautiful I mean what a great job that is it looks like you so great job to uh
00:05:32
whatever mids did that in whatever mid software do you want to actually talk about the men in the arena comment and
00:05:37
what the context of it is can we talk about that actually I think people got upset because what I said was the truth
00:05:45
and this is no different than when I've said stuff before that's become a huge Meme and a huge moment cultural moment
00:05:51
telling the truth especially when it's so clear and so obvious sometimes can really touch a nerve and what I said is
00:05:59
basically the following which is that there are all these people the four of us are examples who are constantly doing
00:06:07
things and then we come into X and we don't confuse x with the arena you know we don't do stuff in the in X we talk on
00:06:16
X but then you go back and you actually do things you start companies you invest
00:06:20
in businesses you incubate ideas you help Founders get their businesses off the ground those are meaningful things
00:06:26
and success is never guaranteed but there is small strain of people who just violently either hate themselves or hate
00:06:36
the fact that you're doing things and then that you talk about them and I think what this touched was just that in
00:06:42
a simple nutshell it forced people to confront the fact that hey hold on a second am I this Anonymous rube on the
00:06:49
sideline that just throws shade or am I actually doing stuff here I just wanted to take an actual direct line of attack
00:06:55
on people who are constantly blaming others for everything and if you aren't trying and iterating you're a [ __ ]
00:07:04
loser go out and try something and whether it works or not X is a great place to then go and talk about it
00:07:12
that's the cycle Sach your thoughts on the man in the arena well look I think speaking of crazy politically motivated
00:07:19
witch hunts did you see this latest story today that now there's a new government
00:07:24
investigation of Elon they're investigating him for supposedly Tesla was going to build him a glass
00:07:33
house which he has basically said is ridiculous it's not true so the administration you know I guess to turn
00:07:40
a phrase people who live in glass houses shouldn't be investigating glass houses
00:07:44
you have the Biden Administration now the latest Revelations is that Biden was using a pseudonym in email 5,000 emails
00:07:52
and he was emailing Hunter Biden under the name Robert Peters why would you do that about
00:07:59
barisma so this is how they were communicating first Biden said he said he knew level yeah well first Biden said
00:08:08
remember yahoo.com first Biden said I don't know anything about my son's business then it turns out based on the
00:08:14
sworn testimony of Devon Archer who was Hunter Biden's partner that Biden participated in over 20 phone calls
00:08:21
where he would call in when they were in the room with clients to quote be the brand and now we find out that Biden was
00:08:27
communicating with Hunter about BMA using a pseudonym account basically a burner account under the name Robert all
00:08:34
allegedly allegedly alleged okay but this is what the comr investigations turned up it's certainly not looking
00:08:39
good and as you said my point people live in glass houses shouldn't be investigating glass hous here's the
00:08:44
thing like if you're going to evaluate and and listen obviously I'm biased um but if
00:08:50
you're going to investigate Tesla over this like people can buy and trade the stock however they want like there seems
00:08:57
to be some Biden Administration you know like Jihad against Elon they're going after him for
00:09:03
this and totally well remember a week or two ago Summit I mean it's all I think that's where the whole thing started is
00:09:11
that they wouldn't invite him to the EV Summit because they're not a union shop and then Elon spoke out about that
00:09:16
remember Biden introduced the CEO of GM giving her credit for launching the whole EV Revolution so Elon criticized
00:09:24
the administration for that but I think the main reason why they don't like him is because what he's done with free
00:09:28
speech on Twitter Twitter yeah this glass house investigation is the second one the one that happened last week is
00:09:34
they investigating space acts for supposedly screening out foreign Nationals in the hiring process they
00:09:41
they are saying wait a second that the doj is alleging that SpaceX was hiring too many Americans and they needed to
00:09:48
hire more refugees my head's spinning even though even though thereal not refugees refugees refuges wait wait a
00:09:58
refugee is some fleeing a country because of political persecution what what where did the term refugees come
00:10:05
from no it is a term a refugee is somebody fleeing a country because of political pers persecution why would
00:10:12
they use that term the doj suit basx basically for Dei footfalls they said that there was not enough refugees and
00:10:21
Asylum Seekers that were being adequately considered and being hired by SpaceX the problem with that as it turns
00:10:27
out is that the OJ is not even allowed to hire Asylum Seekers I mean and refuges no no SpaceX is governed under
00:10:35
the same laws because it's a rocket company as advanced weapons contractors course and they and the whole industry
00:10:42
has been under the belief for many years that they could only hire American citizens and green card holders for
00:10:49
these very sensitive jobs of course and what happened is earlier in the year the
00:10:56
Biden Administration released what they called a clarification here I'll post this Nick can you pull this up so the US
00:11:01
dep us uh doj civil rights division released this again what they called a clarification how to avoid immigration
00:11:07
related discrimination when complying with us export control laws the export control laws is what governs rocket
00:11:14
companies and weapons contractors it's basically the companies that are involved in these sensitive National
00:11:20
Security areas until now the government was pretty clear that you were only supposed to hire US citizens and green
00:11:28
card holders the motivation here s explain to me the motivation crazy because they have this
00:11:33
crazy idea that that these companies these national security companies should be hiring more refugees and Asylum
00:11:41
Seekers wait even though this is the definition of a national security risk but the really crazy thing so first of
00:11:47
all I think this this update that they issued this is lawmaking okay they called it a clarification but this is a
00:11:53
Biden Administration making new law through administrative agency I think this is a crazy law uh it's really the
00:12:00
opposite of what we should want which is more Americans getting jobs but sax can
00:12:04
I ask you a question but what they've done with this lawsuit is they're going back and remember the key here is that
00:12:08
that was only issued in April of this year they've gone back and said that from 2008 to
00:12:14
2022 SpaceX is governed by this new understanding so they're basically making it retroactive okay put putting
00:12:20
aside this uh legal lease here for a second I just want to talk first principles if you were a foreign
00:12:25
government and you wanted to infiltrate company like SpaceX or andrel or whatever would it not be easier to send
00:12:34
a quote unquote Refugee to America espcially to get in versus flipping an American who already works there it's
00:12:41
should be a much easier process makes no sense right because especially since all
00:12:47
you have to do is go to the hole in the wall in Yuma Arizona as RFK Jr showed and you just mentioned the word Asylum
00:12:54
like the cartel has taught you to and all of a sudden you're a refugee you're in they give you a piece of paper that
00:12:59
tells you're going to be in court in three years but you're in thousands of people tens of thou millions of people
00:13:04
have done this also another pragmatic question freberg how many people who are coming in as Asylum Seekers have the
00:13:11
advanced degrees or background to work at andral SpaceX I don't know pick a pick an aerospace weapons based company
00:13:18
like what percentage of refugees do you think coming across the southern border or whatever border they're coming in
00:13:23
would actually have those qualifications so anyway this seems insane well and and
00:13:27
so Jak you raised an interesting point because I think one of the really unusual things about this doj lawsuit
00:13:32
against SpaceX is that the remedies they're seeking are unprecedented what they've said is anybody who was screened
00:13:40
out as part of this process was entitled to back pay lost wages since they were screened out so in other words it
00:13:48
assumes that every single one of those people would have been hired job they probably hire one out of a thousand or
00:13:54
one out of a hundred applicants gets hired it's and if they could have gotten a job at SpaceX as we all know they bar
00:14:00
for hiring is incredibly high they probably didn't have damages because they could probably get jobs at 10 other
00:14:04
companies as well oh my God the Bing Administration is just like self-inflicted wounds here this is so
00:14:09
dumb what what a stupid approach is the Glass House thing a misallocation of funds claim like it's a Securities issue
00:14:17
is that what it's a Securities issue that it was improperly disclosed and that they may not have filed the proper
00:14:23
taxes because it would have been a paid benefit to Elon right right but I mean don't you feel like this is a stretch I
00:14:29
mean they are stretching every law they can to go after this guy it's getting to
00:14:34
be a little bit Trum I hate to bring it up let's be clear here's what's happening I think that when Elon bought
00:14:41
Twitter what effectively happened is the biggest scops Organization for the Democratic party was taken away from
00:14:48
them and I think that they are increasingly feeling like if it really does if Twitter or X becomes a Town
00:14:56
Square that's really bad for them and so they can't shape people they can't amplify the victimization they can't
00:15:03
amplify the government's going to save you narratives and so this is the sort of
00:15:10
Death By A Thousand Cuts approach that the blob has of trying to bring him down and so you see a doj lawsuit over here
00:15:20
it's you know nominal but whatever then you're going to see you know the SEC investigation over $50,000 of GL I mean
00:15:29
the guy is worth a quarter of a trillion dollars and we're sweating the $50,000 glass purchase but the point is the goal
00:15:37
is to tie him up and to distract him and to basically take resources away his mind share from working now we all know
00:15:46
him so he's gonna do the exact not gonna work not gonna work Alex SPO is gonna have a job for the rest of his life
00:15:52
that's his lawyer from Quin Emanuel and Alex is going to beat these things back and generally Alex will win most
00:15:59
lawsuits I say most but not all but not all but anyways the point is that the point is that uh wellam I think you're
00:16:10
exactly I think you're exactly right about what's motivating this and what's going on but I I'll tell you when it All
00:16:16
Began is that Biden had a press conference where he said that Elon needed to be looked at do you remember
00:16:22
this and specifically Biden said well I I don't know that elon's done anything wrong but I think we need to look at his
00:16:28
relationships with other countries so this was the signal to all of the ambitious appara chics in our law
00:16:37
enforcement agencies who are looking for advancement that he's the target go after him find something now in fact
00:16:45
they couldn't find anything so they look at his relation with other countries and
00:16:49
what you'd expect is that maybe he hired some foreign Nationals he shouldn't have
00:16:55
but it was the exact opposite they didn't hire foreign National they make that the crime you it reminds
00:17:01
me of the whole Alvin Bragg thing where Alvin Bragg made that case that Trump was
00:17:07
required by campaign Finance laws to pay Stormy Daniels using donor money but you know you know that if they
00:17:16
had found that Trump paid stormmy Daniels with donations they would have charged him with that it's like
00:17:22
investigating the guy finding he did nothing wrong and then charging him with the opposite of what you no equivalency
00:17:27
between these and and Trump's Behavior but sure it's the weaponization of the justice system and show me the man and
00:17:33
I'll show you the crime no incorrect with the last two I mean he he he committed a lot of crimes but we'll
00:17:38
leave that off the docket for now we're going to agree to disagree on that one okay just very interesting media related
00:17:45
story and finance you're giving Robert Peters too much credit I mean Joe Biden I'm
00:17:51
listen Biden's got to go Trump's got to go we need a new platform I have announced that I am supporting Nikki Hy
00:17:59
and Chris chrisy re that that would be my ideal ticket right now I want the only person freeberg who brought up
00:18:07
spending in either party Nikki H all right let's just agreee move on but I just want to also
00:18:15
say we were wondering who won the um debate last week biggest increase Nikki Hy so what it look like I think she went
00:18:24
from two to n seven to nine in different uh in different uh polls so it's somewhere between she trip it was not a
00:18:32
huge bounce I think you went I think you're right she went two to seven there was one two to7 one 2 to n but any
00:18:38
putting it aside Trump the Trump people are actually promoting it because they want Trump to be up against a bunch they
00:18:44
want to be up against not against one yeah yeah yeah three people at 10 to 15% is better than one at 30 I I that's
00:18:51
probably correct could I just ask because I I haven't followed it this week what was the set like after it
00:18:58
settled after the bounces and the spikes Saxy what where where we at now in the Republican race after this past week and
00:19:05
having people having a chance to really figure out what happened in the debate yeah exactly yeah I think the consensus
00:19:11
view just about is that the biggest beneficiary of the debate was V ramaswami by far yes Nikki Haley did get
00:19:17
a little bit of a bounce but V got a much bigger one he's much better known to the base now and I think that it's V
00:19:26
and DeSantis are now more or less neck and neck for number two Haley might be number three at this point but I think
00:19:33
it helped aake the most now it's also true that he got a lot of criticism but I think that's kind of where he wants to
00:19:42
be I mean you want to be the center of attention and the people who are attacking him now are all these neocons
00:19:48
it's basically the whole military-industrial complex it's all the bought and paid for politicians and
00:19:54
think tanks who you know want America to be in these forever Wars so I think he's
00:19:59
being attacked by the right people and that's going to help him yeah so saak you you see him like basically it's
00:20:05
going to be Trump versus Vic if this continues well it's hard to say I mean I think the sance still is still in the
00:20:14
mix I think it's noteworthy that the top three candidates all have expressed significant either misgivings or
00:20:22
opposition to our involvement in Ukraine uh Trump V and DeSantis with varying degrees of strength have basically all
00:20:31
opposed Biden's policy and they are the leading candidates in the Republican primary I think that's telling you
00:20:35
something very important Haley chrisy Pence Tim Scott they all would like to do even more in
00:20:44
Ukraine and that is not where the party is so it's not where the country is nobody's there one other piece of uh
00:20:50
debate Fallout that I thought was really interesting was that they interviewed Oliver Anthony you remember the the guy
00:20:56
who sings that song the the rich north of Rich because Fox News made the first question about his
00:21:03
song and he clarified what the song was about what he said is the rich men he's talking about North Richmond are the
00:21:10
people in DC it's the blob and people on the debate stage yeah well but what he said specifically was it was the it was
00:21:17
the people who got us into all these endless Wars when I was growing up it was the Republicans who did specifically
00:21:23
he was talking about Bush Cheney Republicans neocon he made that explicit and clear I'm singing more about like a
00:21:32
lot of the older super conservative politicians that brought us into endless war through my entire
00:21:39
childhood those are Bush era neocons he said the people on that stage is who I'm
00:21:43
talking about don't use my song this song is not a left or a right song it's about the people it was a song about his
00:21:50
contemporaries is what he said not and he's talking about both parties and he said specifically it's the people on
00:21:54
that stage I'm talking about don't use my song again okay let's go on to the next story
00:21:59
there was a leaked document and we had this come up last week the leaked document was sent to chamath and it was
00:22:06
about tiger globals struggles it had a line at the top that said this was a spiked or a draft of a New Yorker story
00:22:14
I think a draft is the way they said it and we had a little conversation about here we decided not to publish it we had
00:22:20
a little discussion because we did not think in our private discussion that this was a real story IO grammatical
00:22:29
errors in it Sach said we really can't publish something like this because it it's slanderous and we don't know the
00:22:35
Providence of it and on Friday tiger sent a letter to its LPS in response to the document they wrote that they are
00:22:43
being targeted quote targeted with a series of misinformation attacks anonymously using encrypted messaging
00:22:48
platforms like signal we strongly believe these were written by a disgruntled form employee with whom we
00:22:54
parted ways unlike the anonymous cowards spreading this false narrative on the the internet you know who we are and we
00:23:00
are here and ready to answer your questions rest assured our team remains highly focused on our Core Business
00:23:05
which has been performing this year so chamath just your broad thoughts on the tiger Global non Story the fake faux
00:23:14
Story by a former employee Chase is a incredible person I've said this before he helped me get
00:23:20
into the business of investing he seated my first Angel fund I was pretty helpful I think in getting
00:23:30
them on the cap table at Facebook many many years ago which helped them get going as well so I think
00:23:37
that he's a wonderful human being and I've had nothing but positive things to say about him Scotch Scher I don't know
00:23:42
as well but he seems like clearly a hard charging person that's achieved quite a
00:23:48
lot and so I'm glad that we didn't publish it or talk about it and if there is something to be
00:23:55
said the story will be validated and people will get to the bottom of it what is crazy is I don't understand what this
00:24:03
document actually serves except exactly as you said to a disgruntled person who has absolutely no economics meaning if
00:24:12
you're an LP you don't want this document to be out if you're a partner that has carry you don't want this out
00:24:21
into the out in the wild either if you're a portfolio company you don't want this document out in the wild I
00:24:28
tend to believe that this is just a disgruntled person again look I've had this experience as well so which is that
00:24:35
there are all kinds of employees who work with you we try our best as Leaders of
00:24:41
organizations to compensate them well but invariably what I find are people overestimate their
00:24:48
contributions and people try to take way more credit they try to take credit for
00:24:53
deals that they've done that they didn't actually do they try to take credit for
00:24:58
all of the internal workings and then invariably when the leadership decides that those folks
00:25:05
aren't a good fit anymore mostly for cultural reasons and are exited they have a bone to pick and an axe to grind
00:25:14
and they try to sort of distribute misinformation to other LPS to other GPS to portfolio company CEOs it's happened
00:25:23
to me it's happened to chase it's happened to SEO it's it's happened to any of us that have been successful to
00:25:30
grind people yeah like again it's just another example of like there are the people that are in the arena doing and
00:25:37
then there are the people that kind of get kicked out and get really upset and lose track of what's important these
00:25:45
people instead of writing these missives should be working yeah I mean how how just gral saxs does a former employee
00:25:54
need to be to put in this kind of effort to write a 10 page AG faux New Yorker style Expose and um you were the voice
00:26:02
of reason I think in our group chat and just saying like I I don't even think we
00:26:05
should talk about it in a meta kind of way we weren't going to cover the details of it but even a meta discussion
00:26:09
of it you put the kabash on which we would have been first like kind of highlighting this craziness but you took
00:26:15
a pretty hard stance your thoughts on it well it was written like it was some sort of journalistic article but a
00:26:23
journalistic article has a by line you know who wrote it you know who publishes it has provenance you know therefore who
00:26:30
is liable if it's slanderous yeah this piece that was going around had none of those things and therefore my view was
00:26:39
that we shouldn't discuss it and my view is we shouldn't even mention it because
00:26:43
all you're then doing is drawing attention to something that again you don't know the Providence of and you
00:26:47
don't know whether it's true or not and you don't know who's standing by it now what's happening in the last week is
00:26:52
that tiger has issued a statement about it and that statement was covered by the
00:26:56
Press so I guess we can talk about the fact that they've had to respond to this I'm still not comfortable talking about
00:27:02
any of the contents of it because again nobody's put their name by it so why even put them in the position of needing
00:27:08
to respond to it yeah until somebody's willing to basically raise their hand say I this is what I think the piece
00:27:14
that was circulated was a mix of both business criticism or business issues and sler and personal slander yeah so I
00:27:23
mean are there business issues in there that we could discuss yeah I mean then they would be interesting but until we
00:27:29
know that there's some authenticity to it I don't feel comfortable giving any attention whatsoever to this thing
00:27:35
personally I think even talking about it now is still kind of a waste of time freeberg any thoughts on it just as we
00:27:40
wrap here no it's clearly a disgruntled person trying to cast a negative light on get a job
00:27:50
bro all right d dollarization Corner bricks added six new members climbing to 11 total and uh bricks of course
00:27:58
everybody knows Brazil Russia India China and South Africa these four countries make up 40% of the world's
00:28:05
population 25% of global GDP joining the bricks block are Saudi Arabia Iran Ethiopia Egypt Argentina and the UAE new
00:28:15
bricks and this is kind of being set up as like an alternative to G7 G8 I guess new bricks makes up almost 50% of the
00:28:24
global population with a third of GDP this is the first expansion in 13 years since South Africa joined saaks you've
00:28:31
got some thoughts on the bricks and a little presentation here uh inform the audience all right so J like you said
00:28:36
they added six new members Argentina Egypt Ethiopia Iran Saudi Arabia and UAE this on top of the original five
00:28:43
members now you've described this group of countries as mid I don't know what metric you're using to make that
00:28:52
determination if you look at share of global GDP in in purchasing power parody terms and we can debate whether that's
00:29:00
the right method or not but a lot of economists believe that PPP is the right way to look at it the original bricks
00:29:06
were 32% of global GDP the new bricks bring it to 37% and there's a couple dozen more countries that have expressed
00:29:14
an interest in joining bricks which would bring it to 45 the G7 is only 30% and that number has been declining
00:29:23
over time back in 1995 it was all the way at 45% whereas the bricks were only about 177% you can
00:29:30
see that decline or shift here in this chart going all the way back to the 1980s this is why I think a lot of
00:29:36
Americans have this casually dismissive attitude towards the bricks is they're thinking that these countries are still
00:29:42
living in the era of the 1990s of uni poity when the G7 was you know more than half of global GDP but now the bricks
00:29:54
are bigger than the G7 again in terms of PP the rest have risen and has become a
00:30:00
very substantial part of the world economy if you look at Global oil production the new Bricks now have 54%
00:30:07
of global oil production it's almost double what the G7 produces despite the US still being the number one producer
00:30:14
of oil we're not the biggest exporter because we use it all o just to add to that point oil is of course a declining
00:30:21
commodity with Renewables and nuclear and people are going to rely on it less so sure I don't think Renewables are
00:30:28
anywhere close to be able to replace fossil fuels if bricks brick no hold on let me just to answer
00:30:36
to that it's cheaper now and chamath can speak to this to install solar wind than
00:30:42
it is to do a lot of the um carbon based uh fuels so it actually has tipped economically uh where it's I think
00:30:49
cheaper in 80% of cases 85% of cases to install Renewables is that correct Troth
00:30:54
broadly speaking the cost of solar is effective now the the cheapest form of energy you on a kilow per hour basis
00:31:01
great okay continue s well this isn't preventing Germany from sliding into a massive recession because they're not
00:31:07
able to get cheap energy anymore yeah they turned off their nuclear that also supposes that you have the actual Supply
00:31:13
and to David's Point why Germany has such a difficult issues because they turned off KN gas they turned off the
00:31:19
reactors and there's just not enough solar installed right now so you know you cloudy country what I just meant was
00:31:26
more the level cost of energy which is if you had an installation here and an installation there of two different
00:31:32
modes of energy generation solar is cheaper but D David is right like you know it's still going to take some time
00:31:37
for the proliferation of solar so that yeah we all agree the US is already roughly energy independent we produce
00:31:44
about 20 million barrels of oil a day and we consume about 20 million so we are roughly neutral with respect to the
00:31:53
world we're neither a net importer or net exporter as of now so I oil is still going to be a huge it's the number one
00:32:00
global commodity if bricks adds Venezuela Algeria and Kazakhstan as they may do as soon as next year they'll
00:32:08
control 90% of all oil and gas traded globally you're going to have an OPEC Plus Brick sort of symbiosis because
00:32:16
Russia and Saudi Arabia basically run OPEC plus new bricks is also really strong in food production five of the
00:32:21
world's six biggest food producers are now part of bricks China Brazil India Argentina and Russia
00:32:27
the only other one is the US they have 46% of global population 36% of global land mass so my point is bricks isn't
00:32:36
just strong in global GDP they're strong in the production of what are currently
00:32:42
the two most important Commodities in the world which is oil and food uh they also have influence over
00:32:48
strategic trade routes so if you look at where these countries are located and I'm sure this went into the thinking of
00:32:54
who they just admitted to Bricks because they had a lot of Cho choices they have
00:32:57
something like 26 countries applied and these are the first six they've added so
00:33:03
they now control the Arctic sea route which is basically as the polar ice cap starts to melt in the Arctic you're
00:33:10
seeing a new ability to create Maritime Roots north of Russia basically from Europe to Asia it's a much faster route
00:33:18
than going Around the Horn of Africa or through the sus Canal you have this International north south Transportation
00:33:24
Corridor which is basically a combination of Overland routes and some Maritime that connect Russia Iran and
00:33:31
India you've got Belton Road these East West corridors you've got the Persian Gulf the Red Sea and the suest canal
00:33:37
they're all now part of bricks and the point of that I think strategically is to bypass choke points like the straight
00:33:45
of Singapore the straight of Mala the Bosphorus and the straight of Hormuz so the point here is that the US Navy has
00:33:52
very strategically over decades been encircling China with with military bases on you know Island chains around
00:34:00
China this is going to basically neutralize that whole strategy because China will have ways of of securing its
00:34:07
trade routes over land or again over sea going through the Arctic so this has huge geostrategic implications the other
00:34:17
big thing that I think brics is doing is they have this five to 10 year goal of allowing bricks members to settle trades
00:34:21
in local currencies I think that you guys may be seeing it the wrong way the go here is not to create a new Reserve
00:34:29
currency it's simply to create a way to bypass the dollar complex they're trying
00:34:33
to break the Petro dollar Monopoly this is not an offensive organization and they're not necessarily trying to create
00:34:40
a single alternative to the US dollar they are trying to create a way to not have to go through the dollar complex in
00:34:48
order to do their trade when they're trading with each other and what China and Brazil are doing is a
00:34:55
test case for this where they are setting up a Yuan clearing arrangement with Brazil and the goal to be clear
00:35:03
saxs here is to have a voice versus the G7 uh which they feel they've a lot of these countries feel they've been left
00:35:08
out of and to maybe not have as much dependency on the west and um form this block that has a bigger voice in the
00:35:18
world right that I go a little further and say this isn't just about them having a voice
00:35:24
it's about them having economic sovereignty they do not want to be completely dependent on the United
00:35:30
States to secure their economies and the Big Driver of this has been the weaponization of the US dollar and Swift
00:35:38
yeah what we did to Russia with swift yes so in conjunction with this Ukraine war the USC's Russia's foreign reserves
00:35:45
which were in dollars they've widely imposed sanctions we're now sanctioning dozens and dozens of countries and we
00:35:52
are tactically limiting who can use Swift as part of this so if you are any of the bricks countries you're asking
00:35:59
yourself wait a second when I am doing business with another member of bricks why should the US be any part of that
00:36:07
transaction yeah they do not want that transaction to be mediated by the us at all in a way it's like people buying
00:36:13
crypto so that they don't have to deal with the US government they have a you know they have Bitcoin over here and and
00:36:18
they're not subject to the rules of the US dollar right it's like a way of and having some Independence yeah I totally
00:36:26
get it willing to play by the US's rules when they're trading with the us but they do not want to have to play by the
00:36:31
US's rules when they're not trading with the us or the G7 and this is about creating that Independence I think it's
00:36:37
great that they haveth that there is a competitor to the US dollar because it makes us be more thoughtful about our
00:36:42
spending ultimately and our balance sheet what are your thoughts on all this Jam I have a couple so if you go back to
00:36:47
when the bricks was created this is like 20 plus years ago it was first just brick and with a small1 yeah and um and
00:36:57
then it became bricks with a big S when they admitted South Africa I think the the fact pattern in that organization is
00:37:03
pretty poor you know when they first got organized they tried to create a competitor to the
00:37:09
IMF I think it's called the idb the International Development Bank that bank has not dispersed a
00:37:15
single Dollar in 23 years they tried to create a joint program to lay undersea fiber
00:37:24
amongst these countries hasn't even started so I think it's good that this organization is
00:37:30
growing I think the problem is that the actual amount of legislative coordination that these countries has
00:37:37
been able to exhibit has been literally zero and the problem now is that they Regional rivalries are only growing so
00:37:46
China and India which are the two anchor partners of bricks are literally in a land War there's a border that they
00:37:52
fight over with with guns you have a growing anti-chinese resentment inside of both India and
00:38:01
Brazil Nick you can just throw up this little chart in India they've blocked a lot of apps they were about to block a
00:38:06
bunch of imports but India sees China as as an existential threat the Brazilian population this is just a a poll that
00:38:15
that the economist put in there's just a lot of anti-chinese sentiment so it's very hard to
00:38:22
see folks that are such polar enemies actually working together even if they're part of an organization so I
00:38:28
think that the the odds of legislative coordination in the future are probably less than what they were even 10 years
00:38:36
ago so I expect even less and it's hard to expect even less when nothing has been done and then the second is I just
00:38:42
look at the data and if you look at Swift in July you know the Swift volumes on US Dollars was the largest ever and
00:38:50
so it's kind of one of these weird things where I think that it's good that that organization exists don't get me
00:38:57
wrong because I do think that if they could oh the other thing that I'll say about the bricks which is kind of odd is
00:39:03
that unlike the G7 and unlike NATO where you have democratic ideals that underpin
00:39:08
the organizational framework here it doesn't because you have China Russia Iran which are total Polar Opposites to
00:39:17
Brazil and India in terms of democratic governance and I don't know enough about
00:39:22
Ethiopia or Egypt um to say anything so if they can challenged States at a minimum well no no I'm just saying
00:39:30
they're not Democratic the way like NATO and the G7 are all democratically elected countries it's a very good point
00:39:36
they don't share the same operating system the authoritarians and democratic nations put together so then the last
00:39:41
thing is could you see a currency framework to compete against the US dollar and I think the Practical
00:39:48
complexity is if you take all of these other issues land Wars and import controls and growing Chinese resentment
00:39:55
and now try to boil that into an exchange rate mechanism where the rimi and the rupe and the ri can be
00:40:06
interchangeable I think it's very difficult to see because if you look at the last time that that happened the
00:40:11
Frank the lra the pound sterling the deutschmark that was possible because all of those other factors were not on
00:40:18
the table they were not fighting with each other there wasn't this anti- resentment in one country to another
00:40:23
country they roughly held the same democratic deals so I think my comment is I think it's good that bricks is
00:40:29
growing I think that if they can get some legislative or policy coordination wins it'll be great the track record is
00:40:37
literally zero and the setup doesn't to me mean much yet but hopefully that something
00:40:44
happens who knows freedberg your thoughts I think the arguments about the pragmatism of
00:40:52
non-dollar denominated trade and the progress that's been real realized or can be projected to be realized from
00:40:58
current policy can be debated what I think is most important is the signal that's being
00:41:07
given which is that there is a desire by a larger percentage of global GDP than is represented by the G7 to dollarize
00:41:18
and so while these intentions may be difficult to translate into policy in the near term that signal says a lot
00:41:27
about the influence and perhaps the policy of the US in addressing and dealing with a lot of these countries
00:41:36
and global economic actors but I don't think they want to dollarize that's not part of their they want to increase
00:41:42
trade is the stated Mission and they want to collaborate on trade that that is that is the stated mission do you
00:41:49
think the stated mission is dollarization or do you think the implicit outcome is dollarization no the
00:41:55
local currency support initiatives are implicit dollarization I don't hear anyone saying we got to destroy the
00:42:01
dollar because they're all very important trade Partners most of those countries are very important trade
00:42:06
partners with the US and very dependent on on trade with the US it seems less that it's about hey we've got to hurt
00:42:13
the US and it's more about we have to be independent from the US we have to be independent implicit in that is
00:42:19
independent from the US so and I think that that tone that signal says a lot about us economic policy and US foreign
00:42:27
policy that there's something off with the unipolarity as sax has pointed out that it's not de facto anymore that
00:42:36
there is intention here for there to be something different yeah that's very healthy that's very very healthy and I
00:42:42
think that that opens up Avenues and paths that we're not thinking about today that all of a sudden we'll wake up
00:42:47
and we'll be like whoops and we need to be thoughtful about that I think that's the most powerful part of
00:42:52
Sax's commentary is that it's a very firm establishment even of of the LA of the non- unipolarity of the world but
00:43:02
the the thing that the bricks have to do is I I would just encourage them book a
00:43:07
quick win there has to be some policy coordination that they could do to prove that there's something there that's more
00:43:15
than just a get together once a year and that's been missing for 22 years so far
00:43:22
and that would have a really important I think effect yeah I agree with you David
00:43:27
I think that's the litmus test that hasn't happened yet let me partially agree with that and then partially
00:43:32
respond to what you're saying before chth so it's true that brics does not have an impressive record of
00:43:38
accomplishment to date that's simply true however recent events I think have provided the motivation for this group
00:43:46
of countries to now try and get something done in the past it was just so phenomenally convenient to be based
00:43:53
on the US dollar complex because everything's priced in dollars easy to transact in dollars and when you run a
00:44:00
trade surplus the US has an open Capital account and you can just park the money
00:44:04
in us treasuries so there was never a reason for any of these countries to want to leave the US dollar complex
00:44:10
until more recently when again US foreign policy has militarized and weaponized the dollar and to try and
00:44:18
make it a corve instrument to get these countries to do what the US wants and all those countries now are bristling at
00:44:25
that and they want to maintain their sovereignty and so now they have tremendous motivation to get this done
00:44:31
now the thing they've already agreed to and done as part of brics is that when you join brics you agree not to sanction
00:44:38
any other member of brics that is a meaningful commitment and obviously it has a lot to do with this Ukraine war
00:44:46
and the fact the US has been demanding it to the whole world sanction Russia and most of the world has not been
00:44:51
sanctioning Russia and that's why the sanctions have not been effective is the US has not been able to get that done
00:44:56
the US will not be able to get it done in the future with respect to at least the countries who are members of bricks
00:45:03
with regard to their trade with each other and as we saw in the percentage of world GDP bricks very rapidly once they
00:45:10
add a few more members they're going to be at about 50% or world GDP so the US is only going to be able to influence
00:45:16
call it roughly that half a global GDP where the us or the G7 is a major trading partner now what bricks will be
00:45:23
lacking is the way on a technical level to bring about the sovereignty they want
00:45:29
so they need to have a way to settle and clear transactions and they need to have
00:45:35
a place to park the Surplus that's created for net exporters and they haven't quite figured that out yet so
00:45:41
for example there's a recent news item where Russia which is selling a huge amount of oil to India right now it was
00:45:48
saying that they don't want to accumulate more rupees so they've got to figure out what do we do with all these
00:45:53
extra rupees so there's a lot of pieces to to figure out here and that is why they're saying this is a goal they have
00:45:59
over the next 5 to 10 years it's not one to twoe time frame it's 5 to 10 years but let them make they should make their
00:46:05
own Euro if they feel so strongly that they're a great voting block make a Euro and then they can all put into it and
00:46:11
you can see what happens when a bunch of dictators and a a long taale of failed States now share a common c a common
00:46:17
currency it's not going to work these countries each other yeah failed States who
00:46:23
share very troubled States the way yeah their GDP has been going up like a rocket jcal that's the whole point
00:46:30
inflation furore we Havey human rights yeah their goal is not to create a common currency like the Euro China and
00:46:39
India and Brazil are not going to repace Yuan and rupes with some sort of new Euro like currency moreover they're not
00:46:48
trying to create a reserve currency that's going to be a currency for the man on the street this is about
00:46:53
settlement of global trade flows and getting out from under the US dollar complex my point just to be clear
00:46:58
freeberg is if if you were to think of it as a thought experiment these to chat's point these are culturally and
00:47:05
strategically very different countries and I think what they have in common is that they haven't been included in the
00:47:10
G7 and and really America's reaction to this should be to get India out of this and get them into the G7 and make that
00:47:17
strategic decision that India is the most important country for us to have strong relationships with it's kind of
00:47:22
hard to put Saudi Arabia and to put UAE in this because they don't share the Democratic principles of the rest of the
00:47:28
G7 but we should be trying to any democracy that's in the bricks we should be trying to include in the G7 that
00:47:35
that's the Strategic chessboard that would make the most sense and then you would just leave bricks as all
00:47:39
authoritarian dictators and they do not work well together they always wind up well you're forting that brazzil is
00:47:46
still nominally a democracy no that's what I'm saying like getting Brazil I just said getting anybody who's a
00:47:51
democracy and moving them towards democracy and getting them into the G7 should be our stated goal that's what
00:47:56
the West should do Lula who's Brazil's president is one of the most Ardent advocates for dollarization here's his
00:48:04
quote every night I ask myself why all countries have to base their trade on the dollar yeah they don't they can they
00:48:11
regime change him J Cal May the CIA will get rid of him that's that's stupid that
00:48:15
that's a stupid statement nobody's saying that I just said the exact OPP there are people saying that but oh not
00:48:21
me just to be clear you're put words in my mouth out of the exact opposite of what I just said includ my point is my
00:48:27
point is this is not a simplistic dichotomy between dictators and democracies another way to consist by
00:48:34
the way South Africa is majority on a on just on a a population basis if you took
00:48:39
India out and you got them into the G7 it would be majority overwhel majority percentage of citizens in the bricks
00:48:46
living under authoritarian rule but India let me respond to that and then also CH India is the largest country in
00:48:52
the world now I mean this is the that's the Strategic important piece here in my
00:48:56
mind I think India and the US will pull tighter together in terms of security because of a mutual desire to balance
00:49:04
the power of China so I think jamath is right about that however India also has a very strong
00:49:12
anti-colonial impetus to their politics and especially their foreign policy they
00:49:17
do not like being told what to do by the west and the United States and in particular they do not believe and many
00:49:24
of their politicians have said this we don't see why we should have to sacrifice for you we're going to do
00:49:29
what's in the best interest of our own people and that is why India has rejected enormous pressure from the us
00:49:35
not to trade with Russia India and Russia as bad as the relationship is between India and China is the
00:49:41
relationship between India and Russia is very strong it historically always has been and Russia right now is supplying
00:49:48
half of India's oil and India has adamantly refused to play along with the US's sanctions rightfully so and
00:49:56
rightfully so right yeah they should make their own best decisions yeah right so I think a lot of people are thinking
00:50:03
that India's not here to be a boot licker to the United States [ __ ] that exactly exactly so look I think India
00:50:09
will pursue its interests I think when it comes to security they will align with the US to balance the power of
00:50:14
China but I think when it comes to Economic Policy India will pursue its own interest which I think has to do
00:50:20
with maintaining their economic sovereignty 100 they need cheap oil they need cheap oil yeah they're developing
00:50:25
country right they need they need oil and that's the lowest priced oil another way to think about the framing is that
00:50:33
the priorities for many of these countries for the last two decades have shifted going from a state of economic
00:50:40
insecurity civil insecurity government insecurity and as you obviously establish systems and
00:50:49
certainty in certain elements the dollar complex of sax frames it was very useful in helping
00:50:57
them with that transition but as they start to move from Emerging Market to developing Market the developed Market
00:51:05
the priorities start to shift and then the priorities become much more about sovereignty Independence institutional
00:51:13
Destiny Etc that kind of start to make this more realistic that maybe they don't have their their ducks in a row at
00:51:19
this point but there's certainly a conversation or set of conversations that emerges when you're not worried
00:51:23
about Civil War or you're not worried about economic strife and you can now start to
00:51:29
think on a global stage and that's evidenced by the PPP data that that sack Shar where you know you've seen them
00:51:34
become a much larger percentage of of global GDP share over the past 10 or 20 years that's a good metric for that
00:51:41
General opportunity to say hey I'm going to shift my priorities now and that's why maybe now's the time to start to pay
00:51:46
attention to what's happening uh and think about us policy to participate in in some reconstruction that's necessary
00:51:53
here I tell you what the most important thing here is all this all these conversations seem to come back to
00:51:58
energy chth cheap oil Russian oil Saudis UAE all participating in bricks and then
00:52:04
if you look at nuclear we just had a bunch of I think it was Senators signing a bill I think you might have tweeted it
00:52:10
chamath of support of nuclear 21 nuclear power plants are being trued at this moment in China eight in India United
00:52:18
States only has one which is kind of an extension in nuclear in goodro India just India India just turned on its
00:52:24
first home bu so just literally today so big big news inia if we really want to have a great
00:52:31
relationship with India an incredible path and with some of these other countries would be for us to really
00:52:36
invest in these reactors and help people build them and help them get energy independence from Russia's oil we should
00:52:42
be building 50 reactors in India I don't know enough I don't know enough to know
00:52:47
whether that's true or not and part of it is that like whether we should be building those reactors in quotes
00:52:56
because I don't know what those means Gen 2 gen 3 Gen 4 reactors small modular reactors my big comment in my thread is
00:53:04
just more that I think that the regulatory support in the United States for nuclear is so constipated that it's
00:53:10
impossible to get it done so you could have the greatest technology in the world I just don't see how the laws
00:53:15
change fast enough and the zoning changes fast enough and the nimbyism goes away to make these things viable
00:53:23
and so that's actually the the real question I don't know you know fre the United States what what I'm advocating
00:53:28
for here Sachs is hey what if the United States policy was we're going to help India and some other countries they
00:53:34
don't need our help grow their dependence they don't need they don't need our help they just turned on their
00:53:39
own homegrown nuclear reactor we haven't done one in 20 years yeah but our new I
00:53:43
guess we call them Gen 2 Friedberg these these new reactors would that not be a possible path if we're
00:53:49
spitballing here to help them get more energy independence from Russia wouldn't that be a great Long play
00:53:55
they don't need our help I don't think you're understanding like it's like you're thinking like we we're like
00:54:00
Michael Jordan and we're about to teach some kid how to throw free throws this is not what's happening no any help
00:54:05
would be helpful I mean if people are trying to build a large number of directors you don't you don't you don't
00:54:09
need a numb nuts to come and help you build the product do you you don't hire some two- bit product manager to help
00:54:14
you when something is is scaling and working India GDP is going to be 7% a year they're Off to the Races they're on
00:54:19
a rocket ship they're doing everything right what what what can we do we can help them rewrite their to make them
00:54:25
Byzantine so nothing gets done Z okay as a strategy if we had the ability to build nuclear actors in other
00:54:34
parts of the world which is exactly China's policy that's the belt I think I think you in a nutshell right now
00:54:40
summarizing why there's this dismissiveness which is like we can help them but what makes you think you're
00:54:45
better oh China has taken the same approach I'm saying copy China strategy which has been to go to other countries
00:54:50
listen India might need less help other countries might need more but we have this
00:54:55
capacity so what if we what capacity do we have we don't have any demonstrated capacity
00:55:00
nuclear we have plenty of companies building these new nuclear reactors free bur none of them work none of them work
00:55:06
you them work what do you mean none of them work none of them work okay none of them work when you talk to politicians
00:55:13
from a lot of these countries what you describe as Americans coming in and helping they describe as
00:55:21
exploitation they call that's exactly China strategy or neo-imperialism yes they call it Neo Imperialism or neoc
00:55:27
colonialism looking at it as collaborating on energy Independence broadly speaking so you're being
00:55:33
dismissive I'm asking you to think of what do you want Zimbabwe do you want the zimbabweans to fly in and mutually
00:55:38
collaborate with you to build something in America would you instead of trying to make jokes about me I'm proposing a
00:55:44
stry joke I'm making it to a joke I have a very viable strategy here is which is
00:55:49
to look at what China is doing and what China is doing in the belt and Road strategy which we've talked about here
00:55:53
on this program is trying to help other countries get more energy how could we do that we do I'll tell you listen to
00:55:59
what Larry Summers said remember he said that when China goes abroad they give money for infrastructure Bridges and
00:56:07
hospitals yes when the US goes abroad we give a lecture which is exactly if you want to accomplish what you're talking
00:56:13
about stop this explosion of sanctions we're now sanctioning dozens of countries stop weaponizing the dollar
00:56:19
stop militarizing the Dollar Stop seizing other countries reserves without any due process of law talking about
00:56:27
Russia right now they're entitled to due process of law just like any other country the country that invade their
00:56:32
neighbor so you just get to steal their reserves oh I think it's a pretty I thought we're a rules based order oh I I
00:56:41
think economic sanctions are much better than yeah starting a war yeah I think economic sanctions are great we're
00:56:48
talking about we're talking about the seizing of another country's foreign reserves which is what the US
00:56:53
did yeah I would say that's an extreme thing to do except in the case where people are invading other free countries
00:57:00
and then it's prob Choice yeah this is the way that the administration reacted what you're doing right now is making up
00:57:06
the rules that's what the rules-based order means to these countries is that Americans will make up the rules two
00:57:13
years ago foreign reserves were something that was not part of American foreign policy they were your reserves
00:57:21
then this Ukraine war happens by it says ah nah you know those are ill gotten gay
00:57:24
sees them those are the new rules in other words the rules-based international order is whatever
00:57:30
Americans say it is and then the entire the entire West made this decision together to sanction
00:57:39
Russia it wasn't just the usch characterizing that and you know what if Hitler was invading other countries or
00:57:44
Putin or any dictator I do think it's fair game to seize their rest of the world do not buy into this narrative 70%
00:57:50
of the world does not buy into this narrative they understand are mact countri and those are majority dictator
00:57:56
countries 70% of the world's population does not believe this narrative about the Ukraine war they understand that the
00:58:02
US is at least equally responsible for this war laughable to say the US is equally
00:58:09
respons country that is you are a spokesperson for Putin if you believe that that the US is 50% responsible okay
00:58:17
you know what you can quote any polling you want the US believe this the US is not 50% responsible for Putin invading
00:58:24
Ukraine that is laughable and disgusting every every country that wants you actually believe the US is 50%
00:58:32
responsible for Putin invading Ukraine unbelievable it's not about what I believe it's about what the world I'm
00:58:37
asking you what you believe you said it so do you believe 50% uh where 50% responsible for Putin in Hing Ukraine
00:58:43
that's insane I don't know what percentages I would ascribe but I believe this perent you had say 50% can
00:58:50
I finish my point go ahead the way you're acting right now is exactly why all these countries want to
00:58:58
create bricks they don't want to be subjected to this virtue signaling foreign policy
00:59:04
by the United States we've discussed the way as many times the us could have avoided this war it didn't yeah
00:59:11
respectfully disagree Putin's responsible for the war this is why India does not want to be subject to the
00:59:17
whims of people like you you don't have to say people like me I think the West made the decision that
00:59:24
we needed to take action against the US decision and listen the w we don't get to make decisions for the UK and France
00:59:31
and Germany we don't get to make their decisions respectfully they make their own decisions that's not really true
00:59:37
okay the US runs the US runs NATO because we pay for it all these countries go along with the
00:59:44
us because they like the defense and security that we provide the US calls the shot within the US the B
00:59:50
Administration calls the shots so basically a handful of people in the Biden Administration Biden newand
00:59:57
blinkin Sullivan that's who makes the policy I do not and the rest of the world does not want to be subject to
01:00:04
their whims I I respectfully I don't think Biden gets to choose what Germany and France and the UK do oh I think Olaf
01:00:11
Schultz is eventually gonna be voted out and M EV be voted out because their people are waking up but absolutely they
01:00:18
are the lap dogs of the United States uh would like to go on to any of other topics I want to talk about the summit
01:00:24
next week really excited sure great we're coming in hot to the summit kicks off next Sunday really excited for
01:00:30
everyone that's going to join us obviously we'll be putting out videos of the content as quickly as we can jcal
01:00:35
has I don't know saak and shamat if you guys are aware but he is in charge of the parties and he has gone well well
01:00:43
beyond Budget on these parties they're going to be outlandish they're going to be out of control show the three posters
01:00:49
let me show you the the posters explain everything night one is our 007 party are our bestie Royale if you will and
01:00:57
here is bestie Royale presenting on Sunday night bestie Royale where where your best spy outfit you could be Austin
01:01:04
poers you could be Daniel Craig you could be Sean connory you could be Charlie's Angels any spy you can be uh
01:01:12
and here is bestie Royale coming at you on Sunday night a little poker here is the closing night party we're going out
01:01:19
of order bestie Runner cyber Punk Rave with the besties announcing Grimes will be DJing
01:01:25
so we will have Grimes uh doing a set at the besti runner party that's awesome it's going to be fun and
01:01:33
so wear your best cyberpunk it could be Fifth Element you could go with any cyber can say can I just say I give up
01:01:39
right now because Claire's gonna win of course she is yeah she's whatever she's it's like it's not even worth trying
01:01:44
well I'm just gonna come every day play Runner every day but we'll have some neon stuff for you to put on is it going
01:01:51
to be cold outside no this is inside and this is a occurring at a film studio so
01:01:56
we have three warehouses at a film studio where Rec created part of the set of Blade runers some incredible Asian
01:02:01
street food will be done that's awesome it's gonna be great and then Monday night is going to be absolutely blow the
01:02:08
doors at It Fast Times at Barbie high and uh here we are wear your best Spicoli outfit your best surfer outfit
01:02:16
of any kind or sorry will this be outside this is going to be outside we have a tent for the VIP party way works
01:02:23
is you should you should well we'll see what the weather is it's gonna be warm it's gonna be warm so uh you can wear
01:02:30
your bating suit if you want just wear a trench coat over at chamath if you're going to do a thirst trap live and in
01:02:36
person and Mick will be DJing again so the Dance Floor will be lit just because we went well over the budget we brought
01:02:42
in some sponsors to help us cover the costs I want to thank those sponsors I connections which is actually running
01:02:47
the app uh that we're using to coordinate the summit our Law Firm that does the legal work for us cool
01:02:55
has agreed to sponsor and there's a group of entrepreneurs from South Africa started a company called House of
01:03:01
macadamias they make macadamia nut snacks delicious they're they're sponsoring and they you know why they
01:03:06
they reached out because chamath and I eat salt and vinegar pistachio so they made a salt and vinegar macademia bag in
01:03:12
our honor I love it oh great just and vinegar like this episode and then we've got a group called pavis which makes
01:03:19
mineral based sunscreen and obviously they heard us talking about sunscreen so they reached out and Brew bird which
01:03:25
makes a coffee brewing device came in and wanted to be a sponsor so a lot of the sponsors came to us having heard
01:03:31
about us talking about something on the show and it was very helpful in helping us cover the cost of the event so I want
01:03:36
to say thank you to all of thank you guys thank thank you to all of your sponsors thank you was very kind of them
01:03:41
yeah and then we're doing a high and low thing at we have incredible food trucks
01:03:46
where we've elevated the food to like a higher level and so we want to pair these food
01:03:51
trucks with some nice wines um and so they sent you a list list of all the different foods and then Bo is doing the
01:03:56
steak at the first night Roku Sushi really great sushi place in La is doing the sushi the first
01:04:01
night so we got some really great vendors and all the Asian street food in the blade runner part is going to be
01:04:06
great so Asian the last night Steak and Sushi the first night and then these elevated food trucks uh when is my year
01:04:12
to do this uh your I'm three you're four yeah I'm 24 you're 25 I'm just going to tell you in advance
01:04:21
that I'm taking full complete control all you will have to do is show up I don't want any intervention I don't
01:04:30
need to be in my place after this year and last year please leave me out of it great I'm taking the Sachs approach I'm
01:04:36
showing up where are you goingon to do it Jason I have three ideas where's the biggest grift Brooklyn exactly Tokyo
01:04:42
well I'll take you through it Brooklyn my hometown is one so that that's in my mind my favorite city is Tokyo you know
01:04:50
I love going to Japan so that's in my short list and then on the Griff side UAE might be great I have some Partners
01:04:56
there and so that could be amazing to do it in Dubai as a you oh Dubai would be nuts Dubai would be kind of crazy my
01:05:02
friend Andrew Sasson is in charge of opening I think it's the Winds Casino there or is he in charge of all the
01:05:08
entertainment and nightlife that would be incredible Sasson can light it up in Dubai see I I also took your off the
01:05:15
table because I had the sense that chath might pck I'm 5050 I may I may no no no
01:05:20
I may go to Oman I may but I'm going to go to do a destination thing which is going to be everybody will stay in the
01:05:25
same place it'll be a much smaller number of people and it'll be endtoend curated and
01:05:32
750 500 people there'll be clothes there'll be everything okay for the sulan of science with his sunglasses on
01:05:42
the dictator and the architect we'll see you all next time on all in podcast byebye let your winners ride
01:05:54
Rainman David and instead we open source it to the fans and they've just gone crazy
01:06:02
with it love queen [Music] of Besties are that's my dog taking your driveway oh man myit will meet me we
01:06:22
should all just get a room and just have one big huge orgy cuz they're all this useless it's like this like sexual
01:06:27
tension that they just need to release [Music] somehow we need to get mer [Music]
01:06:44
our I'm going all [Music] in