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all right everybody Welcome to the number one podcast in the world here we are on the all-in podcast we have a
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fifth bestie with us today joining David freeberg choth P hoaa David Saks and myself is the one and the only Mark
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cubin how you doing buddy what's up guys I'm doing great thanks for having me on
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of course of course and you here thank you I've been practicing my virtue signaling so I'm ready ready to go all
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right go I think we're going to have Twice The Virtue signaling as normal in this episode
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promise you I don't virtue signal I'll say you to anybody let your winners ride rman
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David and instead we open sources to the fans and they've just G [Music] crazy you have gotten very vocal about
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politics during this cycle uhhuh and you seem to be I don't know if it's official
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you know speaking on half of the comma ticket so why why are you this active what what is the um reason that you've
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decided to get this active during this election I'm proud to be an American that's exactly why I mean you
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know we all make choices and think what's best for the country and show our patriotism in different ways and you
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know I'm not a Democrat I'm not a republican I'm an independent through and through oh my God like jcal he's an
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independent too is it that all the Democrats are afraid to call themselves Democrats well
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look I've said this many many times if if it wasn't Donald Trump running it was a non-m Maga candidate particularly if
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it was Joe Biden still I'd vote Republican I've voted Republican before if it was a non-m magaga candidate
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versus KLA Harris it would be you know let's look at the policies let's look at the character of the people involved and
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let's make a decision it's it's just Donald Trump is not a republican Republicans are Donald Trump you know
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the Republican party is now the family business for Donald Trump and to me I just think KLA Harris is a better choice
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for the country on a percentage basis how often have you voted just a level set Democrat
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versus Republican would you say out of 10 elections presidential probably I voted for George W twice then I voted
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for um Obama twice and then I voted for um Clinton and Biden but before that I voted for um Ros proo Jr my first vote
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was for a guy named um something um John Anderson so I mean I literally worked on
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Ros Pro Jr's campaign way back when tell us about that that's fascinating he got
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19% of the vote as an independent candidate yeah I was living out in LA and this was 92 and this is when
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computers were relatively new I sold my company and I was taking acting classes and just living by Manhattan Beach and
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just loving life and you know being from Texas I knew people there and they were
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like look we need somebody who understands PCS and computers and software can you help us and I was like
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definitely um I mean I wasn't to the point where I was involved in his decisions but I actually had met him um
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my first company was a company called micr Solutions where we did systems Integrations local and white area
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network I wrote software for you know single multi-user app white area Network apps and we literally helped Pro systems
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um get into local and wide area networking and so you know one of my favorite stories from back then is you
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know I'm terrified I'm a 26y old kid I'm in Dallas I'm going into Pro systems I get to meet Ross pero Senor the man
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right and I'm walking through him and he's got the original the the model for the um no he had the original Magna
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Carta one of like the 13 Magna cartas and he had the original um model for the eima um statue right with the flag up
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and everything and I'm just terrified I'm going to trip and just wipe out American history and I walk up to him
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and I said hi Mr Cuban and reverse that yeah you know I was so nervous um and he like had made
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fun of it and you know got to be friends and did a lot of business helped those guys a lot I made them a lot of money
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they made me a lot of money did you have any more interactions with them when you
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were on the campaign did you get a sense of no did not no I was just a little plea just trying to do little pley stuff
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in La I didn't know that you took acting classes that's interesting did you want
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to be an actor or before a businessman or what no no no this was after I sold micro Solutions I bought a lifetime pass
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on American Airlines mov to La got a place right in Manhattan Beach um right on the beach get two flight attendants
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as roommates and I was just loving life and I was like how else can I meet women
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I'm gonna take acting classes and it was like one of the best things I've one of
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the best things I've ever done because you know being a business guy you it's always right brain right brain right
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brain and acting it's like don't think just be don't think just be just let it go so it was a totally different
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experience and that's why you see me do all these cameos and stuff um because I like to do it because it's the one place
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where you just have to completely let go and it's a completely different approach
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to life so you know little backstory yeah yeah you got a good character arc on Entourage I think that was probably
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the best one seven episodes plus the movie yeah yeah yeah yeah that that was uh pretty memorable so uh saak lead us
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off here I don't know if you've been following Mark cubin on social media at all or if you guys interact I can't
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resist asking so is your um is your acting as a surrogate for kamla is that acting too or
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when they go Li when they go low we go high no no at no obviously I truly believe in it and look it's always
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relative it's always relative to the other candidate um and so obviously as you guys know I'm not a big fan of
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Donald Trump I gave a shot eight years ago didn't work out okay wait wait could we can we get into this because I you
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obviously have like a LoveHate relationship with Trump going back 20 something years so yeah let's just go
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through the the um the timeline here here I'm just all I don't hate the guy at all if he was running for president
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and we all got together and you know just shot the like we are now he's a blast he's fun to talk to you know
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he's got Charisma he's got personality he's easy to like I mean you know he's used to SM smoing he's a he's one of the
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world's best schmoozers and so he's easy to get along with it's not personal but
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that doesn't mean like you guys with each other it doesn't mean you can't you know as different things happen over
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time you can't go back and forth and you know he did this same thing so the whole
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history of it was back um right when um we went public at broadcast.com no right
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after we announced the sale in 2000 um was it 2000 yeah after we announced the sale in January 2000 he threw a Super
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Bowl party at marago and one of my buddies um who um knew him invited me and I was like cool I'll go Mar lagogo I
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hadn't seen it Donald Trump maybe I'll meet him and so you know you guys have seen marago and beautiful po beautiful
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view there's a veranda up there and he had like a bunch of um Hooters and um what's the suntan lotion that always had
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girls whatever oh Tropicana Tropic no but Sun Tropic Sun one of those right and so they were all dressed in Orange
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and they were walking around and it was just like a big deal and it was funny as
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hell and so not that that's a bad thing it was actually kind of entertaining and
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um so he comes up to me and I'm with the um VP of Visa my buddy and Jerry Yang I
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think it was maybe it wasn't Jerry but um co-founder of Yahoo yeah co-founder of Yahoo and um he was like Hey guys
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nice to meet you and I'm like hey I'm Mark Donald da d da and just you know not to be mean just in a flipping way he
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was like Hey someday you'll be able to sit up there with the rich people pointing to the veranda and walked away
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and I'm like okay fine you know ever and so um then um not long after that through my friend he got back in touch
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with me and you know this is the early days of the internet early 2000s and um still I guess still 2000 and um I get an
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invitation to go to um his office in Trump Towers and I'm like this is cool of course and you know he wants to talk
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to me about business and I'm like you know what Donald I'll help you all I can he you know he's getting donaldtrump.com
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and he wants to sell chachis a merchandise I guess some things never change um and so you know so I'm in
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there trying to tell them about what you can and can't sell online and what works
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and that was all fine and good met aanka it was all really cool but the one thing
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that left with me if you've ever been or seen pictures of his office every inch of his office is covered with pictures
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of him every single inch of the office meeting celebrities right stuff like that yeah yeah or you know whatever um
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covers he was on and just whatever right and I just remember walking through there and afterwards you know it was it
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was a nice meeting and we had some follow-up calls and everything but it never went anywhere in terms of the
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online stuff but I just remember thinking to myself if I ever become you know visible or famous you know to that
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level don't let me get so caught up in just having pictures of myself and you know I'd had conversations with my
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buddies about it just like you know you guys would and so then in 2004 um I got a chance to do a show
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called the benefactor ABC called me and said okay wait let's show this we have this uh this was got tweeted so so so
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this is after we got you did Oppo research saxs you got Oppo research this is on Twitter this all on people Tred to
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with me on on Twitter they so so anyway so when I got the gig um he was like congratulations good luck and everything
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I was like thank you and whatever and then when I got cancelled he sent me that letter basically saying you suck
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and so well he was he was dancing on the grave of your show but so you're saying
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you didn't have beef with him before that letter no yeah it was not a beef but it was just like that's what it was
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and so it was just like okay whatever and um okay but then when he ran in 2016 you were supportive can we show that
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let's show the there's more between there's more in between there's a lot more in between okay okay so that's 2004
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2007 um Eric reaches out to me and goes hey there's no hard feelings with my dad
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or anything I'm like no I don't care he goes we're working with um these Russian
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MMA fighters this guy named Fedor emili Yenko who was like one of the best ever at that point in time and Josh Barrett
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and kind of the irony of all this is we were competing with Dana Dana White and the UFC in some respects because a lot
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of Fighters felt like they weren't getting paid enough there was no Health Care there was no nothing right and so I
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had a TV network we had started the first all highdefinition TV network called hdnet back in 2000 back when TVs
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cost 20 ,000 and everybody thought we were idiots but slowly but surely it was taking off and so they came to me and
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said we like to put um we're partnering with these guys who are putting on this MMA fight um with Fedor and Josh Barrett
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and some other folks and we'd like to broadcast it on on hdnet because we had a show called um this week in MMA so we
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were promoting we had fights that we were already putting on every Friday night so it actually was a good fit so
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you'll see pictures of me sitting with them and actually and I couldn't find it I so pissed because I was going to with
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him some more um what he said in the you know during the time we were sitting at
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that Podium was everything Mark hban touches turns to gold and so I was like that would have been so great to to have
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out there and so and anyway so we were friends again and so it's 2007 and we're friends and nothing happens between then
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until whenever he started going crazy on Twitter and um all the Obama stuff and everything and the birth certificate and
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the birth birth stuff so he's on Twitter and he started with me like saying that
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so let me just preface this by saying I golfed once in my life in 1989 and I hated it so bad I was throwing clubs
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because I'm one of those really super competitive guys I'm like never again but I went and worked um I auctioned off
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myself to be a caddy at a golf tournament that he also was at but he starts tweeting that I saw Mark cubin
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and he swings like your girl and this and that it swings like your girl like nobody saw me swing because I don't Golf
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and so I started back with him and so we went back and forth on Twitter for years
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for years and then he comes down to um escalator in 2015 and I'm like all right this guy's got no chance to win um but I
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think it's great because I don't like traditional politicians I'm not you know there's nothing about me that thinks
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that the way we do politics or the way the government is run is a good thing not at all I mean I my heart is
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libertarian but I realize you can't Li Arians are not problem solvers they're ideologues you know like you look at
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Rand Paul everything's only one way he doesn't try to solve problems so anyways um I digress so he comes down the I'm
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like that's cool right he doesn't have a chance to win but um I'm like he's the best thing ever you know you know how
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you know I forget where I was but I was like he's the best thing that ever happened to politics he's not a
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politician he's not going to be a stepf candidate I may not agree with his positions but you know just the fact
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that he's not a politician is a good thing and so from there he called me and we talked a lot probably 10 to 15 times
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on the phone he would call me you know and he tweeted one time mark cubin would try to call I never had a number there
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was no way for me to call him right he would you know and you know the way he emails he refuses to send an email
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because he doesn't want any proof of anything he's done right and so you know he would write it up like you had one of
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those pictures so bring up the one on the CNN where he says what happened so right there CNN nasty what happened see
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see what he does there his email he writes on a piece of paper and then scans it and sends it as an image via
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email and so what happened just so just so the audience can understand so the the email is from you to him saying tell
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the boss I said congrats on his sweep and then and then his assistant printed it out and then wrote back to you and
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like this is one of many emails that we went back and forth on this there but just to be just as a weird point he
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literally prints out his emails writes on them has them scanned in and sent as an image to you Mark wow saw you on CNN
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nasty how did he send this to you he he mailed this to you or or what he mailed it an image he doesn't use email I mean
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the guy emailed it back right so he writes on the piece system prints it out he reads it he writes on it she scans it
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she scans the sends the image to me now the big question there you can't just let that slide why do you think he does
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that he's just a different generation at least that's my interpretation no absolutely not nope I'm with Mark he
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don't want Paper Trails or anything he's doing Shady stuff man I I think you're reaching there obviously there's a paper
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trail if he writes hold on if he writes it on a piece of paper hold on if I write right now on a Post-It notes scan
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an email to you there's a paper trail no no you can't search for it and it's not
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his you know yes to your point he I'm just telling you he won't send emails at all he doesn't want any assistant
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created an electronic record what's the difference you have to ask him on that but he said generational thing this is
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my interpretation I think it's a generation David he has literally said it out loud that he doesn't want a paper
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trip but anyway so let's go back so so now we're talking back and forth and we're having legit conversations I
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remember asking him you know you realize as president you're going to have to make decisions where people can die and
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he really wouldn't respond yeah I get it I get it I'm like Donald you don't have
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a ground game what are you g to do how are you going to get through this beat him yeah I got the evangelicals doing
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all that I'm not worried about it I'm like Donald you know and we would I would bring up things about there was
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this one thing where um the FBI used used this device to break into an iPhone and there was a big thing
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about you know privacy and I tried to engage him on a conversation on it and it's just like I don't know I you know
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just didn't want to talk about that at all and that would that would happen multiple times where I would try to
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engage in conversations about some some type of policy and there just it never got anywhere and there was never a
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conversation and I said to him I'm say there's another email where I said Donald at some point you have to learn
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these things you literally have to learn these things in order to be president and he didn't respond to that and that's
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when I went on CNN and I said basically look I like the guy but he he's not learning he doesn't make any effort to
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learn anything and I think that can carries on till this day because you can't look at things he says and say
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that's really an in-depth response or that's a nuanced response and so that's what I said on CNN and that led to the
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um image that you you guys posted so that was the falling out that was the falling out yeah or maybe but it wasn't
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a complete fall if you want me to continue so it's not a complete falling out because okay after that he gets
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elected I send him a congratulatory message um and I say congrats you know um you know if I can ever help I'm happy
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to and so when they were starting to look at replacing the ACA I was starting to get into Healthcare and and being in
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excited about Healthcare and so they invited me to the White House and I spoke to Jared I spoke to this woman
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named Brooke Rollins I think her name is um and I spoke to a whole group of people I went to CMS and I spoke to the
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head of the agency I spoke to the head of CMS all talking about this thing I created called the 10 plan which is a
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means tested ability to support anyways um and so they brought me back in and then when the pandemic hit I sent them
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some ideas on you know backstopping um bank accounts and credit card accounts so everybody doesn't just default and he
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had manin call me and then when they had with the pandemic he connected we with with Peter Navaro and I worked with him
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and actually found a company here in actually outside of Fort Worth that um I put together with them and I helped that
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company increase their output and Peter Navaro worked with them closely and we you know really made a dent in all the
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PPE issues and you know he invited me to the White House and then I went to the White House one time went into the
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overal office and there's pictures of me talking and again I tried to explain the
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healthc care stuff he just wasn't having any type of in-depth conversation he wanted to tell me about how much money
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he saved on um on from Boeing you know how many billions and this and that and then it was a short conversation and
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then I was leaving he goes look are you still on that show and he goes I'm like yeah Shark Tank he goes yeah that's
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Baron's favorite show and then as I'm leaving further he goes wait a minute I really like that suit so you know and
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and you know he's called me since um not since he left the White House but you know in the you know later in his tenure
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at the White House and invited me to dinner I mean and so it's not like we left as foes and it's not like I don't
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like him I just don't think he's the best person to be president I don't think he was a good let's just TR test
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that what how would you think about the four years that he was president in hindsight what what would you say was
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done well what would you say was done poorly just those two things I think the way he dealt with the zit isn't the
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right word just the vibe of the country was really really really bad I think the
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hate that he conveyed I think the fact that what he tweeted negatively you know so companies didn't know what was coming
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next you know he tweeted negatively about me he tweeted negatively about other people I thought that was a real
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bad thing when the BLM um protest happened and turned into riots when they went into Minnesota he was like when the
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Looting when the Looting starts the shooting starts who the says that as a president and so we had more people die
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during riots during his term than than Biden by a long shot and I think he misrepresented where he stood in terms
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of being anti-war if you go back to 2019 um and look at the war in Yemen um there were hundreds at least 100,00
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people plus died and there was a bipartisan resolution to say we're not selling any more to the Saudis we're not
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selling any more weapons to the Saudis and a bipartisan resolution including Mark Meadows and ran Paul and others
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said you know passed it and it went to his desk and he said we're still going to sell these um Munitions and this um
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these weapons to Saudi Arabia even though these people continue to die so when we talk about it's you know it's
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not all that much different than Ukraine and in some respects only Saudi Arabia got the Glen Gary leads and Ukraine got
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our old stuff and we replaced it and so when he Tod comes out now and says look you know I'm against all wars were no
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Wars that's right the mainstream media well okay so there's two things there so just just on the
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2020 riots I don't know how you blame Trump for the BLM Riots of Summer of I blame him for the riots what I said was
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how he dealt with it I get you don't like the Mean Tweets I get I totally get me twe no don't diminish it David don't
00:21:18
diminish it as just mean tweets people pay attention to what happens and when you are have people whose lives are I
00:21:24
think it's far worse to actually have riots going on in the streets that's what needed to be controlled how many
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people he wanted to hold on he wanted to send in the National Guard to Minnesota
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it was actually Waltz who rejected the National Guard he had no problem and there were plenty of ties between oh
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there were plenty of ties between Democratic activists and the BLM organizers of those riots Time Magazine
00:21:45
did story on that I'm not saying he's at fault that the riots happened I just yeah but I can't believe they using the
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the riots throughout the summer of 2020 as an argument against Trump when it was
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the left no I think what he's saying is the leadership that he shows is of low moral character
00:22:00
did he do anything right Mark well I'm not done with the wrong stuff okay but wait there's more right let's go back to
00:22:06
the the the foreign policy for a second Trump is correct that he did not start any new wars during his presidency you
00:22:12
agree with that right um that no new war started or he didn't start any um he didn't start any he was
00:22:21
like the first president in 20 years not to start a new war well he inherited some for sure and he inherited Syria and
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Afghanistan and he wanted to get out and the generals didn't let him and there wasn't really a war that happened in
00:22:31
turkey and then when we got shut down um he didn't know there wasn't really a war
00:22:37
I'll agree with that he didn't his argument is that he did not start any new Wars has Biden started Edy well I
00:22:43
would argue that Biden provoked the proxy war in Ukraine yes I mean you can disagree whether he provoked or not but
00:22:49
there's no question the US has been deeply involved in a war with Russia in Ukraine and I'm saying what I'm saying
00:22:54
is the correlat that the analogy to that is what happened in yen and that we had
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a chance to get out of Yemen and reduce the deaths in Yemen much like they're talking about getting us out of the out
00:23:05
of Ukraine now and we had the opportunity to stop selling um weapons but he looked the best I could tell he
00:23:12
looked at it as a sales opportunity to sell to MBS all these weapons and he thought that was a positive so a lot of
00:23:19
people died and we're still in there today so it's not he had a chance to get us out and he did not so I'm not arguing
00:23:25
that he's perfect and Biden's perfect and it's tit for T it just is what it is I'm just saying State making this
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statement of fact you know and that's it yeah okay well look we did we did support we did support the Saudis in
00:23:37
their war with with with Yemen so wait let me give you the one last thing and then we'll yeah keep going so then I'll
00:23:42
go to some positives so the the next thing you can actually Trace that y War I I can't say you actually I'm I'm a
00:23:50
little bit hyperbole but I can trace that from that Yan War to the start of inflation and here's how I explain that
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and so in Yen he did a deal with for his boy in Saudi Arabia and sent them all the weapons in 2019 fast forward one
00:24:06
year and you're in May uh no AP April let's say of 2020 and you're looking at the price of
00:24:16
gas the lowest it's ever been the price of oil just collapsing at one point people were paying you to take their oil
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and so there was an opportunity he made a decision because there was a situ ation that came up the oil companies
00:24:30
came in and said this price of oil being so low is killing us right we're losing
00:24:36
a lot of money we anticipate losing more because with the pandemic now starting demand is dropping like a rock and so he
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and that was coming from the oil companies and so what he did he said okay MBS owes me a favor over in Saudi
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Arabia that's the connection and Putin's my boy I'm going to go to them and ask them to reduce
00:25:01
production now what happens to the price of gas when the largest producers of um
00:25:07
largest producers of oil and energy decrease their production the price starts going up and
00:25:15
up and up and so you can track the increase in the price of gas and how that impacted the price of goods the
00:25:22
entire time that the production from the 10% reduction until the they increase it
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like 300,000 barrels a day for two years what is your argument here you're saying
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that Som Trump caused the inflation yes and I'm I'm explaining to you I'm again the mainstream media first all by the
00:25:39
way the the war in Yemen started on March 26 2015 according to chat GPT which is under Obama no I started under
00:25:47
Obama that's fine but he had a chance he was asked to end it by Congress he was at he we were sending he was selling
00:25:54
$660 billion I I don't know the number I I can't remember exactly in weapons to Saudi Arabia and he there was how did
00:26:02
the fact that we had 9% inflation in 2022 so two years after Trump office glad how in the world is Trump
00:26:10
responsible for that and not Biden Harr so glad you asked that because the mainstream media never talks about this
00:26:14
stuff and so she a little dig there so Trump goes in and says we're going to cut the production by 10% demand is
00:26:25
still relatively low but you know in April May June as people start venturing outside their house until the end of
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2020 the end of his term that there's an increase in demand but the increase in demand the increase in production
00:26:39
doesn't match the increase in demand they limited as part of this deal that Trump put together between um um Russia
00:26:46
and um Saudi Arabia and um that led to other people in OPEC plus um participating they only increased the
00:26:55
the production of oil by 300,000 barrels a day which didn't keep up with the amount of demand that was happening that
00:27:04
started increasing the price of gas that price of gas continued to increase for the two years this program was in place
00:27:12
this program wasn't like let's just cut it for 60 days and go back at it it wasn't let's just do this for 90 days
00:27:18
let's just do this during the Trump Administration no no no no no this deal went before they got it took two years
00:27:25
before they got back to pre-pandemic levels of produ ction and so listen to what Trump says about drill baby drill
00:27:32
why does he say drill baby drill will lead to lower costs because oil and energy costs are part of everything and
00:27:40
you know what matches up perfectly what matches up perfectly is that 99.1% in 2022 and the day that that agreement
00:27:50
ended where MBS and Russia limited production that agreement ended it like this if you did your little V diagram
00:27:59
that like and increase production decrease production bam that is the answer to your question
00:28:06
so just to summarize what you the argument that you don't like about him is you got to know him like many people
00:28:11
do you worked with him on projects and like Pence bar Matas Tillerson Bill bar and Mike Cohen and the mooch Omarosa you
00:28:22
realized this person is out for themselves they don't care about the people they work with and you fell out
00:28:27
of friendship with him or whatever there's a long list of people who don't who worked with him who think he's an
00:28:32
idiot and don't like him now you're on that list yeah I mean I don't think he's an idiot I'm not saying that's my
00:28:38
position I'm just summarizing it look I don't think he's an ID not your position
00:28:41
no I haven't work with him he's one of the greatest salespeople ever he's one of the greatest you know um motivators
00:28:48
in terms of crowd motivation ever but can Ro J he's Roy con Jr that is who he is if you read books about Cohen
00:28:59
everything Roy Cohen says to do tracing back to the McCarthy hearings in 54 everything Ro Roy Cohen says to do that
00:29:05
is exactly what Donald Trump does I just want I just want to paint this thing and
00:29:09
then i' I'd like to hear the glass half full version to the extent you have one but basically I just I just want to
00:29:15
understand so my understanding was in 2020 what happened was not that Saudi Arabia and Russia were cooperating to
00:29:23
cut prices but they got into a fight because it wasn't really it wasn't really Saudi but it was OPEC which
00:29:30
includes us and which versus Russia and we initiated against them which they counteracted a price War they they
00:29:41
initiate against so Saudi Arabia initiated against Russia but what but what I'm so what I'm trying to
00:29:47
understand is there's a war in Yemen right we don't stop the armaments of Saudi and I guess what you're saying is
00:29:57
that then triggered an OPEC no no what sayings o Trump won MBS owed Trump one so MBS starts the
00:30:09
price war with Russia one year later and the oil companies come to Donald and say
00:30:16
look we're getting destroyed demand is dropping they've increased because of this price war between um Saudi Arabia
00:30:22
and Russia Saudi Arabia decides to take it to Putin and increases their production significantly so in order to
00:30:28
keep their revenues up Russia's got to do the same thing meanwhile all the all the demand is dropping because of the
00:30:36
pandemic and so Donald gets asked by the insurance comp the um oil companies to go to MBS and to Putin and say we need
00:30:47
to stop this price War we need to reduce production and to his credit if if you think that's a positive to Trump's
00:30:54
credit he did it and so by reducing production over a plan of two years and you can go look at the production
00:31:02
numbers right and when that sto by doing that that increased the price of gas the
00:31:08
price of oil the price of energy and that was bad for American consumers who utilize gas who you know paid pay for
00:31:15
gas for their cars really bad for him but he decided to work with his Oil Company buddies and protect them you can
00:31:22
say that's a good decision or bad decision maybe it's strategic we really he really felt they could go out of
00:31:27
business and he wasn't willing to give them money to help them but the bottom line was that that matches up exactly to
00:31:37
that 99.1% that David Sachs mentions it also menes up matches up to okay does he
00:31:45
fully support the oil companies over the price of gas and will that influence what he will do as president again so
00:31:53
when he says I'll just get out of Ukraine depends on who's making the money and where it is when he says I'm
00:32:00
going to get people to drill baby drill okay well we already learned a lesson wait wait wait wait sorry okay so look
00:32:06
this is very hard to hold on a second this is very hard to fact check in real time because I've never heard this
00:32:11
Theory before have a theory on the Pod lete has a question yet so let mey the point the point is that you know this is
00:32:22
like totally novel I don't even think I've heard you make this theory on X before I was waiting okay you're
00:32:28
Dro hasn't been able to get involved let's have free going to let him basically site this nonsense and I don't
00:32:34
get to interrogate it a little nonsense David you no no but I just wanted to include freeberg in the discussion 40
00:32:40
minutes ask question let me ask question go chat GPT go Google it go look it up however you want okay what about the
00:32:47
fact that Biden's first day in office he cancels the Keystone Pipeline and a bunch of leases he makes it harder to
00:32:54
drill in the United States so he reduces the ability for for domestic producers to produce you don't think that that
00:33:01
would have an impact yeah but it wasn't on the price it wasn't on the price of gas because it's the price of gas is a
00:33:09
global phenomenon right the price of oil rather is a global phenomenon it's we we
00:33:13
are the largest producer of energy in the world but we're still only about 133% I think it is don't quote me on
00:33:19
that but that's that's a range and so the other 87% has more of an impact and even to that there was still an
00:33:26
unlimited amount of drilling available on public lands and leases available that weren't fully used now that said I
00:33:33
think Biden did mistakes did make mistakes wait okay guys hold on let let's just finish one thing before the
00:33:40
other I would just like an answer of what is the good and the bad of Donald Trump and then what I was gonna ask you
00:33:45
is what was the good and the bad of Biden I just want those ansers guys just just just give me
00:33:51
one sec can I just ask make one comment I've been here for like 40 minutes um yeah trying to get you in I want to
00:33:58
respond to the inflation point mark I you know I just shared two images first was the US crude oil production chart
00:34:04
and more than half of this oil is exported so you can see the the reduction in production but the the
00:34:11
domestic oil production capacity remained High relative to our consumption so us consumption if oil was
00:34:21
the biggest driver it really would have affected the profits of the exporting companies not necessarily the cost of
00:34:27
energy domestically I will however point out that the federal balance sheet the Federal Reserves balance sheet swelled
00:34:34
during from4 trillion to8 trillion as we all know there was significant fiscal stimulus meaning the
00:34:43
federal the federal government bought the only Char David I didn't say it was the only cause I didn't say it exclusive
00:34:49
CA well I would argue that flooding the world with dollars which is what the Federal Reserve did because they bought
00:34:55
up all the bonds as the federal government started to issue money in lots of different ways cause the supply
00:35:00
of dollars to go up which causes the cost of anything that's dollar denominated to grow up and I think many
00:35:05
economists would argue and make the case that the fiscal policy and the monetary
00:35:09
policy of the federal government and the Federal Reserve is largely to account and I'm not going to use the word blame
00:35:15
but to account for the inflation we saw in the cost of everything from energy to
00:35:20
production to labor to assets and so they're not mutually exclusive they're not mutually exclusive they're not but
00:35:26
there was also sign ific as we can all acknowledge massive in a dynamical system Global Supply chains are a
00:35:34
dynamical system stuff is made in one place move to another place when one thing breaks or it slows down it all
00:35:40
breaks and we had a massive shortfall ability to move Goods around the world and that was the biggest driver of the
00:35:47
inflationary effects that we saw in the I agree 100% but even if you go back to those the first two charts you put up it
00:35:52
matches up with exactly what I said production went down demand went up and the net result was that price of gas
00:36:00
went up and price of gas is in everything is it the only but no but production went down in everything Not
00:36:07
Just Energy but everything and not because of energy but because of a lot of other reasons and then and then and
00:36:13
then we had a whiplash problem where we had over demand relative to the Natural and none of the production systems could
00:36:18
keep up with demand because of the fisal stimulus I agree 100% with you all I'm saying you can try trace it back to
00:36:26
maybe it's 1% of the price maybe it's 3% of the price maybe whatever the percentage is I'm not saying it's
00:36:32
exclusive but you can trace it back to the decision being made to support the energy companies and say we are going to
00:36:39
reduce production rather than just letting the market play out and saying we'll let gas prices stay as low as they
00:36:44
are based off of supply and demand now are do I agree with you that supply chain disruption transitory yes of
00:36:52
course and fiscal and monetary policy like stimulating the world economy by pouring a t of money out that's never
00:36:59
happened in history right for sure 100% the question is in propor you think Larry Summers was wrong when in q1 the
00:37:07
first quarter of the Biden Harris Administration Larry Summers warned that if you pass another two trillion of
00:37:13
covid stimulus like they were planning to do that could set off inflation that we were on the brink he he said that he
00:37:20
did make that declaration against his own party Mark and he said this is the wrong thing as a Democrat he said this
00:37:26
is the wrong thing to do and they went forward with what they plan to do for various reasons some would argue
00:37:31
political some would argue that they thought it was the right thing to do and the effect was precisely as Larry had
00:37:36
predicted yeah and KLA Harris cast the tiebreaking vote for that inflation explosion act otherwise was the American
00:37:44
otherwise known as the American Rescue plan actually I agree with I agree with free B really the cause of this massive
00:37:54
20% inflation we've had over bid four years is a secret deal between Trump and NBS and like Putin's in there somewhere
00:38:02
you can dismiss it all you want David just look at the data and look at the numbers and they match up now to free
00:38:08
BG's point the free BG's point is it the only thing that caused inflation of course not when you spend too much money
00:38:14
when you inflate the economy when you have Supply train chain disruption all those things contribute but we're also
00:38:20
not having the conversation to say okay how much of the supply chain disruption contributed to inflation was it % of
00:38:28
that 20% was it 5% was it 7% was it 1% we don't know it's impossible it's all the supp the supply hold on the supply
00:38:35
chain was constrained during covid and it was healing it was getting better and then they pumped all the stimulus and
00:38:41
everyone got these s level let me Mark has an opinion let's leave the opinion I'm just really curious I just want the
00:38:48
high level report card on the last two presidence what is the high level report card Mark to put a cap on this just for
00:38:54
the audience here is our national debt over the two presidencies the two terms and as you can see with the taking out
00:39:03
the bump for covid it's pretty much they're both wild Spenders I think we can all agree they both are spending too
00:39:08
much money and we need to have more fiscal discipline we all agree on that now to Cham out's point is steel man
00:39:14
anything you like about the Trump presidency and then we'll go to commo I mean I think there was good elements of
00:39:22
the tax cut I think he went too far but I think they needed to come down from 35% yeah what whatever the corporate
00:39:30
rate 35% I think was corporate that was too expensive it made it difficult for us to compete globally I thought 20 um
00:39:37
and I thought bringing down cap gains um again I forget exactly what they were maybe 29% I forget was also smart but I
00:39:45
think he went too far but you can argue that there's no right answer on what that is going to be it's a guess right
00:39:51
you just put it out there and you hope what you what you plan and what you propose and what is implemented works
00:39:56
and you don't know until it does so I didn't I didn't have a problem with him trying that yeah 35 to 21 you got it
00:40:03
exactly right yeah you've acknowledged that kamla's unrealized gains tax is a disaster well I'll acknowledge that it's
00:40:09
not real and you're making it up that you've never heard her say that I made it up yeah you made a her it was in it
00:40:16
was in the Biden the last Biden Harris budget it was in the Harris platform at the DNC it was that was the Biden
00:40:23
platform at the DMC right you never heard her talk about it search place on his name and put her name in there but
00:40:30
you're you're reaching David you're reaching right you never heard her talk about it at all she's been very specific
00:40:36
that cap gains goes to 28% that um that what has Biden what has Biden done well and what has he not done well and then
00:40:45
the follow-up question is if it were an open Democratic primary would you have voted for kamla Harris I don't know but
00:40:52
then again if Donald Trump participated in the debates on the Republican Primary
00:40:58
in the Republican primary would you have voted for Donald Trump you know you're saying you're saying it's
00:41:05
analogous the Republicans had an Open Primary no but they did s competed Nikki Haley competed that an
00:41:13
Open Primary Trump was 50 hold on a second Trump trump was 50 points ahead maybe he should have debated I don't
00:41:20
know no I mean look I would have been in favor of him debating but he was 50 points ahead and everybody had a chance
00:41:25
to run Democrats pretended on let me finish then you can get your response okay the
00:41:32
Democrats pretended that Joe Biden was just fine that he was sharp as attack that he was the best version of Joe
00:41:39
Biden and when the primary came and you had um Outsiders like Bobby Kennedy uh try to compete not only did he not only
00:41:49
did Biden not debate they basically use lawfare to keep Bobby Kennedy off the ballot they did not allow him a fair
00:41:56
shot at the nomination which is why he had to leave the party and run as an independent then we find out after the
00:42:03
debate that actually Biden is not fine he's actually appears to be a significant cognitive decline so somehow
00:42:10
Nancy Pelosi gets him out of there and then KLA Harris is Anointed she's never won a primary vote ever she in 2020 she
00:42:19
ran and dropped out before the first primary and then this time around she never had to compete in the primary and
00:42:25
Som the question is I don't think well the question is how can you liken this to
00:42:31
what the Republicans did having an open and competitive primary so first of all the Republicans do not have an open and
00:42:36
competitive key word competitive primary because if one of the candidates refuses
00:42:42
to participate because they have a lead look what happened to Joe Biden for all we know VC VC would have destroyed Trump
00:42:50
as much as Trump destroyed Joe Biden Nikki Haley would have destroyed Trump as much as Joe um Donald Trump destroyed
00:42:58
Joe Biden I don't I was supporting Des santis at that time and it was definitely I think Des santis would have
00:43:03
crushed him too right they those allow to compete their names were on the ballot you're talking about a very SE
00:43:09
would you do you think Des santis Nikki H or VC would have beaten Trump in a in a debate no I think when if you look at
00:43:17
them okay well hold on I'm saying it's unclear I don't think you can just say that they would have won I mean Trump
00:43:22
you so that means it's not a truly competive Len when Trump when Trump was in a crowded Republican field and
00:43:28
debated he crushed everybody so I just don't know what would have happened that was
00:43:32
2016 this is just debate this is just debate okay what about the point that the Democrats kept other contenders off
00:43:41
the ballot they use lawfare and moreover they lied about Biden's cognitive condition and then they anointed KLA
00:43:48
Harris through a process that is opaque and we still don't know what happened okay so here's my answer right first
00:43:53
going back to Republic it wasn't a competitive primary if the contender doesn't participate and yes he did well
00:43:59
against 15 other candidates in 2016 but I'd be willing to bet that he's also had
00:44:04
cognitive decline everything he says and does is reflective of that if Joe Biden
00:44:09
had said the same thing we would be having a lot of qu we would we don't judge Donald Trump and his cognitive
00:44:16
ability the way we did Joe Biden okay so we'll put that behind now let's go to Joe Biden I can tell Democrats lied
00:44:21
about Biden's condition let's just put Let me I'm going to tell you my personal experiences with Joe Biden right I
00:44:26
didn't talked to him a lot twice during that period And I can tell you from the first time I saw him a year before the
00:44:34
last time I saw him which was you know probably in March or April I forget there was a decline but the decline was
00:44:42
in his sharpness right his quickness of response if you sat down and you listen to him speak about something which I did
00:44:49
he wasn't forceful he wasn't you know he looked like a Walking Corpse um he looked awful right um but in terms of
00:44:57
content it was there and so I understand why they positioned him the way they did
00:45:02
it's just to sell it was impossible so that's part one so I don't think the decline is nearly what you're saying it
00:45:09
is but I do agree why they get rid of him why they get okay so that's now we're moving forward right his ability
00:45:14
to respond in real time you slow down we all slow down right I'm 66 years old and
00:45:20
I've slowed down versus where I was at 45 you so you know at 81 and at 78 you were going to be slower Joe Biden in
00:45:29
just was not as quick that was a real problem he got destroyed in the debate by Trump because of that not because he
00:45:34
didn't know the the materials and the content but he just couldn't respond and think fast enough so I think that's
00:45:40
where the the misunderstanding is it's not that he had cognitive decline in the purest sense it's that his ability to
00:45:47
respond quickly was gone and he looked like he had cognitive decline so now let's go forward to the Democratic
00:45:54
National um convention where um and right before that where they replaced it I was curious about just the um
00:46:02
mechanics of the whole thing so being the curious person I am I went and pulled up the bylaws and the rules of
00:46:09
the democratic party and the Democratic National Convention and they reset those
00:46:14
every four years prior to them pulling out and it's very very clear that the only Mission and the only task and it's
00:46:22
pretty much the same in the Republican because I look that there's too the only mission is to win you want to to win the
00:46:27
presidency you want to have control of Congress that's all they care about and they give themselves every bit of
00:46:34
flexibility to do whatever they damn well please to put themsel in that position they are a private organiz are
00:46:41
they the party are they the party then of democracy as they claim to be or are they the party of winning at all cost so
00:46:47
now you're trying to you know play branding games right it start I'm just saying that their rhetoric is at odds
00:46:53
what they actually did hold on a second there were 14 million AR voters in the Democratic primary that's the mainstream
00:46:59
media discussion of this right they say there's 14 million voters I say Trump didn't debate at all there was Zero
00:47:05
debates with Donald Trump which one open primary though people got to vote for their candidate it's not an Open Primary
00:47:11
because it's Donald Trump's family business he controlled what happened in the yeah look listen I mean I was again
00:47:18
I was supporting someone different during the primary and the reason why danus lost is he didn't get enough votes
00:47:23
okay the Republican Prim voter Donald Trump that's why won the Primary fair and square whether he debated or not he was
00:47:31
up 50 points on everybody else and I bet I don't not what happened with Biden what happened with Biden is B bid let me
00:47:37
finish David let me finish Biden won the Democratic primary he got 14 million votes and then they threw at that threw
00:47:42
out that result and put in KLA Harris because they didn't like his we ever in a fraternity what's that were we ever in a
00:47:48
fraternity were we ever in a fraternity no okay in a fraternity they get to vote
00:47:52
on all kinds of but at the end of the day if the chap the the National Organization says no
00:48:00
right doesn't matter who won the election right so you're saying the Democratic party is a click I get it
00:48:05
it's meain just to just DAV you're just talking branding you can brand it however you want no the Democrats said
00:48:13
they're the party of Dem Democrat I'm not a Democrat I don't care what they do I don't care supporting them you're
00:48:19
supporting them supporting can you acknowledge hold on can you just acknowledge that their rhetoric is
00:48:24
hypocritical I don't care what the r is I don't pay attention I don't pay attention to their rhetoric we're not
00:48:31
going to get progress I really want to hear what Mark thinks yes here we Gove forward move forward two okay two things
00:48:37
seem to uh be true at the same time if I'm recapping your position here mark one you would have liked to seen Trump
00:48:43
debate two I think you would have loved to seen a speedrun primary perhaps maybe
00:48:48
kamla you know battled it out I honestly didn't care I want once Donald Trump was
00:48:52
the candidate I wanted the best person to beat Donald Trump what I cared about let me go back to my question so I'm
00:48:59
just going to give you a succinct summary of Mark Cuban's position his evaluation of the Trump presidency the
00:49:05
positives were tax cuts and warp speed and operation War spe and warp speed the negatives were continuing the war in
00:49:13
Yemen when they had a chance to and then this and actually the negative wasn't so
00:49:18
much that sorry TR stum the negative wasn't so much he continued it the negative is the hypocrisy and his okay
00:49:24
right in the style okay now tone of how he governed can we do Biden what are the
00:49:29
things that Biden and Harris did well that have helped the country and what are the things that they could have done
00:49:35
better did not do well so I'll start with the negatives first so just so you know that there's a lot of them one the
00:49:40
way they handled the Border was horrific there's no way to you know to say it any differently now I understand
00:49:47
why they took the approach they did literally if if I were in a central a Central American company country and my
00:49:55
family was at risk getting shotgun because there's a drug war I'm doing everything I can and I Rec I recognize
00:50:02
you know that if I just set foot on American soil I have a chance for Asylum and I get that and I get why Biden and
00:50:09
his administration might say just for human humanitarian reasons we're going to increase the number of people that we
00:50:15
allow to do that I understand why he would do it but at the same time he opened the door too wide and he made it
00:50:23
so that there were too many people that came through and that created cascad problems now to his credit down back in
00:50:29
June I think it was he he signed an executive order which he now has made permanent or is permanent as you can as
00:50:35
president that changed um that there's no longer the option to just set foot on American soil and be eligible for um a
00:50:44
hearing for Asylum you can't do that any longer and to her credit she worked with
00:50:49
the um head of um The Mexican government and they have taken steps to reduce the
00:50:55
flow of people to the border and so now the number of encounters at the border is about the same as what it was right
00:51:04
before the pandemic under the Trump Administration so while he was too long to do it while he um handled it
00:51:11
incorrectly overall and messaging was horrible I think they got to the right place but now we have a problem right
00:51:17
that he created where we have too many um non-citizens illegal aliens however you want to call them however you want
00:51:25
to Brand them and we have to understand how to deal with them I think that they have talked about Comm has talked about
00:51:33
first and even JD Vance said this first we're going to get rid of the criminals which makes sense but Donald Trump says
00:51:39
we're just going to deport everybody any illegal were just going to deport them now Obama was the deporter and- chief he
00:51:46
deported more people than Trump or Biden over three million people but he had a specific process in place that everybody
00:51:52
could understand and I think with Trump remember um that or oron Gonzalez kid the six-year-old kid in
00:52:00
Miami Gonzalez right where you all a sudden you had these these cops with you know riot gear on and machine you know
00:52:08
and AR-15s or whatever they use pointing them at a six-year-old kid cowering in a
00:52:13
closet if Donald Trump does that and that's not contrary to how he approaches things we could have another series of
00:52:22
riots and protests that go really really bad and so while I think Biden handled things completely wrong at the beginning
00:52:30
I think with Harris now and she's saying she'll support the um the immigration bill that was bipartisan etc etc you
00:52:37
guys know that I think she has a more common sense approach to dealing with deportations and getting people through
00:52:44
the Asylum system and the Asylum that bill I think said that it would reduce the amount of time to adjudicate Asylum
00:52:51
to 90 days which means that there's a chance to get control of this turns into a r okay so that was border was bad
00:52:59
anything else bad or should we shift to the good I think the spending was bad I think um that we overspent and I think
00:53:06
we went through a period where uh and I'm not trying to make excuses for him I just think you know you guys mentioned
00:53:11
this before he did overspent and I think the the infrastructure bill was good I think the Broadband bill was good and
00:53:18
everybody says we spent $42 billion on broadband and got nothing we should have gone to Starling but the reality is the
00:53:23
money went to the states and they could buy um staring from Elon all they want so that's just kind of the mainstream
00:53:29
media poo pooing something they shouldn't poo poo but the EV stuff the EV Chargers that's a cluster you know
00:53:36
and there's no way around that and so I think that was bad um so pork barrel spending basically unaccountable
00:53:43
spending yeah no I think you know what they did in health care um you know you can take Lena KH con and say what she's
00:53:49
doing for the mergers you know Alberton and kovers I think is too much I think you know and I even told her this I sat
00:53:55
on a panel s right next to her and I said the most important thing from a technological perspective in this
00:54:00
country today is that we win AI that is going toine everything militarily for us
00:54:05
and economically for us and that when you try to break up companies like Google and Facebook you diminish our
00:54:11
ability to compete globally with AI and she told me now that she didn't didn't impact her at all that she understands
00:54:17
that and she's heard that before I think their approach to that is wrong I think
00:54:22
that what she's done with the FTC against Pharmacy benefit manager ERS has been good right Pharmacy benefit
00:54:29
managers are ripping off more companies and costing and increasing the cost of medications more than anything else
00:54:36
that's happening in healthcare and she's called them on the carpet with a recent
00:54:40
report and just sued them I think that's good um I think in terms of other negatives like K Harris now I think um
00:54:47
the um um filibuster I think that's a mistake to try to get rid of the filibuster because then somebody else
00:54:54
gets rid of it for something else and it's just cascading problems um on spending we talked about I think he
00:55:00
spent too much and what have they done well I think he changed the tone of the country I think that was really really
00:55:07
important no one woke up you know and David calls it mean tweets but not waking up concerned about Mean Tweets is
00:55:13
important not waking up concerned about there being some random um tariff on your company that you didn't expect not
00:55:20
waking up being accused of of doing something I think those were all huge positives I think um supporting workers
00:55:28
I think you know just having just a sensibility of okay we're we're not in the middle of everything there just
00:55:37
wasn't this uncertainty like every single day that every business woke up with with Trump just removing that was
00:55:44
the biggest positive of all so let's look forward now to AA Harris candidacy for president of the things so we know
00:55:52
the Donald Trump track record because he gets the credit for the things he got right and he has to take ownership of
00:55:59
the things but how it's been defined I'll use the Yon example again I'll use the price example on oil again the you
00:56:06
know we have Trump nesia right we presume that what he did in terms of the economy and everything and no Wars you
00:56:13
know no everything was just Rosy under Donald Trump and I think that's another thing that's NE I'll be honest I've
00:56:21
never heard this specific Theory I'll take the time to look and figure it out for myself and I'll
00:56:26
but what I'm curious about is that track record is there now how much of the and
00:56:31
do you think it's important for us to give credit for the good things to kamla and responsibility for the bad things to
00:56:38
kamla in that so that you have an equivalent AB comparison do you think about it that way or no no I don't and
00:56:43
I'll tell you why okay I'm assuming all you guys have had a boss at one point or
00:56:47
another yes yeah yeah and do you all agree with everything that that boss did all the
00:56:53
time no no no no but you had to do what the boss told you to do yeah and that's Common's job but I like I like to take
00:57:01
credit for when the boss tells me I'm owning something and then I do it well but at the same time you get credit for
00:57:07
doing it but it doesn't matter you know if it turns out to be wrong it's still the boss that's on the hook for what
00:57:13
about the Border mark because you made a comment about the border and she was declared the borders are yeah again that
00:57:19
that's branding I mean we play branding games with politics all the time if you look at what her specific responsibility
00:57:26
was I alluded to it earlier her job was to go to Central America and talk to the
00:57:31
heads of the countries there and try to reduce the reasons why people were leaving their countries to go to the
00:57:37
United States why do you think they uh open the border so much I'm wondering Mark there is a conspiracy theory or
00:57:43
Theory um you can you can pick how you want to frame it that this is to increase the number of democratic voters
00:57:49
at the same time we hear that a lot of the folks coming in who are the working class that the Republican part is now
00:57:54
the populist party so those votes would to the Republicans so you know I've heard this argument from both sides what
00:57:59
is there's another theory an economic theory Mark which is that it increases the base of workers when we're at our
00:58:06
lowest unemployment rate in history and inflation is Raging so by bringing in lowcost workers at that you're that
00:58:13
you're able to get to work at a lower wage rate you actually have a deflationary effect and a stimulatory
00:58:18
effect because then they end up being tend get the logic there I don't think there I think maybe they might have
00:58:23
thought of that earlier and that's why they let too many people in but I think they realize now that they screwed up
00:58:30
and that shouldn't be that shouldn't be an executive Authority right I mean that
00:58:32
should be like a legislative Congressional Authority that makes that decision and that determination on
00:58:37
whether to change immigration policy do you think that the executive branch should be able to unilaterally determine
00:58:43
who comes into the country without following laws no I prefer that the Congress does it unfortunately that's
00:58:49
just not what works look at the SEC with Gary gendler the guy's a and but you know they
00:58:57
that actually yeah so that's an area we we can agree on but before we get to that so so your claim on Border we
00:59:02
finally found ground truth here we go no we we can agree on we can agree on that'll we'll get to that but but before
00:59:10
before we do that I just want to finish up on Border here so your claim is that KLA Harris really wanted to seal the
00:59:15
Border but she was prevented no doing by Jo didn't say that David you're really good at trying to position things so you
00:59:23
have you know you have talking points to go out with um no I'm just you said that
00:59:28
this was a case of a VP who was thwarted by her boss who do not what I said that
00:59:34
is you ad the king of virtue signaling David you the k for virt okay so the truth is she was on board with Joe
00:59:41
Biden's agenda I don't know she's doing what she was told which is it there's no you're creating false choices
00:59:49
David you're creating so David if you do the job your boss told you to do does that you make a declaration before you
00:59:57
do it if I agree or disagree how do you know she disagreed with Joe Biden about these policies because I see what she's
01:00:02
doing now well because she changed the policy right she has a different polic it's an election year conversion she
01:00:08
realizes what a disaster it's been so so when Trump does it it's brilliant when let me give you the proof okay her own
01:00:15
words okay she flipped her position she called Trump's border wall unamerican and medieval and mocked it and this is
01:00:22
before she became Biden's Vice pres so when Trump hold on when when she was in the Senate and Trump was trying to build
01:00:28
the wall remember Democrats tried to thwart that they subjected him to years of litigation to prevent him from
01:00:33
building that wall and she multiple times was on record saying the wall was unamerican medieval mocked and so forth
01:00:41
she also compared ice to the KKK she said that images of border patrol agents evoke slavery okay this is her rhetoric
01:00:49
I don't think Joe Biden made her say that she suggested that we abolish ice and start from scratch okay and now she
01:00:56
wants to talk about how tough she is on the border ridicul maybe she talked to JD Vance back then and was taking his
01:01:03
positions people changed their mind for whatever reason people learn you're positioning as okay so for so hold on so
01:01:10
so throughout her whole time in the Senate she was arguing against a border wall okay in the strongest possible
01:01:16
language she then becomes bordar or you could call it Point person for the Biden
01:01:20
Administration and for three years they GID us that the Border was not a problem
01:01:25
that it was not an open festering wound like the videos were constantly coming out I remember on the show we talked
01:01:31
about it and I was told when I would raised the issue of the boorder that was a conspiracy theory that Fox News was
01:01:36
just cherry-picking videos remember that Jason in any event yeah well people were
01:01:39
actually it was interesting bring that because people were sharing people were sharing videos and playing them on Fox
01:01:45
that were from like 10 years ago so there was a lot of misinformation Democrats the whole Dem about Caravans
01:01:50
David all those Caravans never made it to the Border how many Caravans did we hear about that over 10 million migrants
01:01:57
have entered the country during the Biden Harris Administration the first thing they did hold on when Biden when B
01:02:05
no we know about no no we do know those those 10 million are just the Border encounters those are the recorded
01:02:11
crossings that they led into the country the number we don't know is whether how
01:02:15
many more were not recorded that number could be 20 or 30 million what happened why why did this happen I'll tell you
01:02:22
why when Joe Biden took office he repealed all of trump executive ORD no we did not what is it
01:02:28
section2 of them title title 42 title 42 stuck around until the end of 23 and in
01:02:34
addition they got rid of Trump's remain in Mexico policy and they changed the meaning of Asylum so that anyone who
01:02:40
went to the border and said that they were suffering economic hardship which is basically the whole world okay could
01:02:45
now qualify for Asylum and they were given they were given like a ticket to appear in court one day like three years
01:02:50
5 years and they were ushered into the country and then they were like nonprofits working with the B
01:02:54
Administration to put on buses I agreed that they screwed I agreed they screwed up on the border you're I'm not AR screw
01:03:02
up no fine they screwed up but now we are back defended it so yeah but she she changed just like Donald just like JD
01:03:10
Vance JD Vance called him Hitler JD Vance in 2020 and and after diminish Donald Trump that was in private
01:03:17
Communications in 2016 and JD Vance explained including last night why he changed his mind about that right and
01:03:22
that's fine so he talked to people so so do she representing state of the people
01:03:27
this was her position like six months ago and now all of a sudden she's the nominee so
01:03:32
she's you're you're trying you're virtu signaling like a mother right you're trying to put you're trying to Brand
01:03:38
anything you tried to Brand anything that you disagree with that you think is a negative and just put it on her which
01:03:45
is politics 101 right but you're not looking at what she's actually doing what she's she was the point person for
01:03:51
the administration okay look when does it matter if she was if if she was in charge does and she said you know what
01:03:58
what you want her to do was like JD van said about um abortion right I talked to
01:04:02
somebody and my you know they proved it great that was a smart move by him would
01:04:06
it be smart for her to say I was wrong now I I've learned more and I've picked up more information now that's actually
01:04:12
a good question for you sax if JD Vance can Lobby and want a National Abortion ban and then change his mind as the
01:04:20
number two for Trump can kamla change her mind when she is is no longer running for you know the number two seat
01:04:28
as Biden I well I think I think JD explained why he changed his mind about that he said that there was a referendum
01:04:34
in Ohio and his side lost and he so he can change his mind can Kamala and do you have the grace for Kamala to change
01:04:40
her mind or not hold on a second he's taking a learning from that KLA Harris has never explained why she changed her
01:04:45
mind fact the media hold on a second when will the media even ask her this question she doesn't submit for
01:04:50
interviews and certainly the the debate moderators like on ABC never asked her a
01:04:56
question mark if she's going to change her mind if she's going to have this election year conversion why doesn't the
01:05:01
media ask her what is the basis of this when did you change her mind was it five
01:05:04
minutes ago why then did you uh support Biden throughout your entire last three and a half years why don't they ask her
01:05:11
these questions if you were part of the Biden Administration why did you volunteer to be the borders are if you
01:05:16
disagree with Joe Biden about these policies when exactly did you change your mind those are the questions that
01:05:21
she should be answering why won't she those are the question why W she submit to an adversar interview are the
01:05:26
questions that you want so that you think you can put her on the defensive and get and
01:05:32
have know no look you want to know but let me just tell you what's important put yourself put yourself in the shoes
01:05:39
let's just call this a business right and The Business of this business is getting votes and winning this election
01:05:46
and you came in and the the product that you originally had new Coke failed right
01:05:52
Biden's new Coke in this example and you come in and you say I'm you know I'm bringing it back this is the new new
01:05:57
Coke and we we're going to test to see if that's working well when you brought in KLA Harris she had no favorable
01:06:05
ratings whatsoever she was behind in all polling right where Joe Biden was and now she's either even or ahead or a
01:06:13
little bit behind in every single poll and why do I bring it up because it means what she's doing is working you
01:06:20
don't I think actually we agree I think we actually have found a point to agree on which is I think comml Harris is just
01:06:24
saying whatever takes to get elected you can say the same thing about her true belief hold on she stated her true
01:06:30
belief years ago and throughout the Biden Administration which is she never believed the Border was a problem she
01:06:35
thought the border wall Trump's wall was unamerican and medieval and she thought
01:06:39
that ice needed to be abolished I think that was her true belief now if it's not
01:06:42
her true belief I would like her to explain when she changed her belief and why the same way that JD Vance did and I
01:06:49
think the American people are entitled to know that and I think if the media was doing its job they'd be asking her
01:06:54
those questions she she's never been asked that Stephanie rule that latest interview did not ask that and the
01:06:59
debate moderators did not ask that let's just go outside of America for one second because Mark you're Jewish you're
01:07:05
of Jewish Heritage I would really like your opinion on what's happening outside of America there was some crazy pictures
01:07:14
over the last few weeks coming out from the Middle East there's still all this complication complicating stuff with
01:07:22
China where do you stand on all of these things where do you stand on the Mir shimer Sachs Jeffrey Sachs kind of
01:07:30
school of logic that there's a military industrial accomplice that tends to just
01:07:35
push us towards these War zones and these forever Wars where do you just stand on those issues and how do you
01:07:40
think about that I mean honestly I don't have enough information to give you a qualified response I'm I'm pro-israel to
01:07:47
the core because I'm Jewish um I'm anti- Hamas to the core I think you know they're terrorists they are terrorists
01:07:54
um I want to see Israel to succeed I want to see Israel succeed I want to see the United States support them and help
01:08:01
them in that um but you know when Israel was going into Gaza I thought it was too
01:08:07
blunt an instrument but when they went after heala I thought they did the exact right way and so you know I'm I'm always
01:08:15
only gonna resp you have a nuanced opinion of this yeah and Ukraine yeah um Ukraine I don't want to see American
01:08:21
blood spilled and as long as there's a NATO and I agree there should be a NATO I'd rather see us spend money than put
01:08:27
soldiers In Harm's Way and so U does does the Harris campaign agree on that point or do they have a I haven't had
01:08:33
that conversation I haven't had that conversation with them I don't Mark let me ask
01:08:37
you just a point on arithmetic which I think is the most important arithmetic we should all be talking about today is
01:08:43
the first uh yesterday was the first day of the uh Federal year fiscal year right
01:08:50
and here's a little uh image for us to all look at together as a group an image that everyone should wake up every
01:08:56
morning in the United States and look at the first thing they do instead of looking at Twitter is they should look
01:08:59
at the image that I'm sharing on the screen right now which is federal debt in the United States I thought screen of
01:09:07
you taking a bath this is on the first day on the first day of the new fiscal year federal debt jumped by $24 billion
01:09:14
in one day federal debt now stands at $ 35.7 trillion and the biggest challenge we
01:09:20
have in the year ahead is that 10 trillion of the outstanding debt comes up for refinance it's going to refinance
01:09:28
at around 4% so we're going to be adding another $300 billion in new interest expense next fiscal year plus the Biden
01:09:37
Administration has proposed a $7.2 trillion budget for next year which will inevitably lead to another $2 trillion
01:09:44
of deficit spending which means that by the end of 2025 we could be staring at40
01:09:50
trillion of federal debt and if you do the math on that at 4% interest it's 1.6 trillion a year of interest expense a
01:09:58
year just on interest expense on the outstanding debt which effectively begins to eclipse the entire federal
01:10:04
budget very quickly and gives us no ability to maneuver to meet the needs of all the policy demands that are being
01:10:11
described and shaped in all of these elections and all of these debates and all the that's going on is
01:10:16
really not fundable what is the Harris campaign say about the situation with respect to deficit spending and debt and
01:10:24
I don't know how high can raise taxes and not cut spending to even make a dent in the challenge ahead without
01:10:32
driving a massive recession what is what do you think like the Harris versus the
01:10:36
Trump campaign's kind of intentions are as we look at this Abyss that we're now kind of jump I can't speak for them I
01:10:43
can only tell you the conversations I've had and what they've said to me whether
01:10:46
or not they take these directions is completely up to them and I don't know but I've said the exact same thing they
01:10:52
know that the um the deficit is a problem it won't be a budget b a Biden budget there's no Biden Administration to
01:11:00
happen they've already you know just the tax rates are completely different than
01:11:04
the Biden budget proposals where there's no you know um unrealized capital gains
01:11:09
Etc they went to 28 and 28% so it's not going to be what was proposed by Biden there's a limit on tax basically right
01:11:18
like that that that people will there's only there's a point of diminishing returns and raising taxes and they
01:11:21
realize it right so when we talked about unrealized capital gains and I gave thousand reasons why not they're like we
01:11:26
already know this um y y now to David's Point why don't they just come out and S
01:11:30
say it because the 1% of high information voters don't know the difference of unrealized capital gains
01:11:36
or not and don't care the 99% want to hear about the things that they're talking about so that's why people like
01:11:42
me can go out there and talk about it but to your point and the bigger Point David um da that they realize that
01:11:48
there's only a couple ways to reduce the deficit one you get inflation under control and that reduces interest rates
01:11:54
and that's going to work in our favor and I think that's happening now if it's $1.6 trillion then you know if interest
01:12:00
rates go below 4% that saves a lot of money probably the most you can save they realized efficiency is an important
01:12:07
element in her last speech in Pittsburgh she talked about how long it took it only took one year to build the Empire
01:12:13
State Building that is crazy there's too much friction in the government to be able to do building the right way
01:12:19
they're going to reduce friction I've had conversations with them about AI as a service and being able to
01:12:25
optimize integrating um um artificial intelligence into all these processes so that they don't have to keep on hiring
01:12:33
people I don't think their mindset again I'm speaking for myself and my perspective of my conversations with
01:12:38
them I don't think their mindset is to just go out there and just cut a ton of people but I do think the mindset is how
01:12:44
can we Implement technology to become more efficient so that we can provide more value to the citizens of this
01:12:49
country at less cost I think that's important to them I think um you're going to see a lot of redu I'm trying to
01:12:58
think of the best way to say it she knows that technology is the ultimate driver of success and if she supports
01:13:06
new technologies and you heard that again in Pittsburgh she wants she mentioned blockchain but more
01:13:11
importantly she mentioned Ai and how AI is key to us being a dominant military um to having our mil um our military be
01:13:20
dominant and to have our economy grow because the other way to get results isn't just to slash and burn like a VC
01:13:27
wants to do but to grow the economy and that there truly are ways to grow the economy without just more spending but
01:13:33
do yeah do you supported Elon Musk going in like if you're saying shed regulatory
01:13:38
burdens shed inefficiency improve productivity don't we need an Elon Musk style model that you know Trump has
01:13:44
talked about with Elon send someone in and let's go fix the inefficiency across all of the administrative efforts run by
01:13:51
the federal government what first of all when you just when you do a v VC type just cut the Department of Education
01:13:59
right whatever it is we don't know what Elon would actually do well I think that
01:14:01
triggers a recession because then you got a lot of people unemployed right well exactly right and there's contracts
01:14:05
and so that means the United States of America is violating all these contracts with small businesses and medium-sized
01:14:11
businesses um and maybe you want to put Doge in the the treasury who knows and that's how we make it all up but but you
01:14:19
can't just crack slash and burn to your point Dave I mean it just won't work and
01:14:23
so what you can do though is introduced technology we have yet to have a president that fully understands
01:14:30
technology I'm not here to tell you that kamla Harris is a geek she's not but she
01:14:36
understands the impact and she has a lot of people who truly are Geeks around there around her and she truly believes
01:14:42
that implementing technology is a way to improve efficiency but the whole idea is
01:14:47
you can't take the libertarian approach that's ideologic you have to take a problemsolving approach how do you look
01:14:53
at any specific problem we're trying to solve how can you apply technology to that I think you will get that from the
01:15:00
Harris Administration as opposed to Donald just talking about the AI and how much energy it consumes Mark you you
01:15:08
said of all the roles if there's a Harris Administration you said you want to run the SEC why was I I was
01:15:14
just trolling Gary gansler yeah I was just trolling Gary gansler because it's fun to do okay okay so you think and
01:15:21
particularly why is gendler has he done a particularly bad job are you just trolling are you just trolling are you
01:15:26
just trolling David trolling me now right I can't keep up with the troll control I agree with Mark nested
01:15:34
trolling nested Mark Mark is actually supporting Trump he's just trolling sacks and
01:15:40
coming on the show he's been going on for week I know he's not supporting Trump but but I tell you one uh one
01:15:45
Republican that as I understand that you are supporting is John Deon who is running against Elizabeth Warren in the
01:15:51
Massachusetts Senate race yep so uh I'm curious about this because I think this is an area we could agree on you're not
01:15:58
a I didn't know that that's pretty that's pretty interesting yeah I mean I'm not a fan of Elizabeth Warren I've
01:16:03
talked to her about crypto I mean I understand her position her basic position is you know bad nation states
01:16:09
use crypto to fund their operations the bad stuff and she just wants to throw the baby out with the bath water as
01:16:15
opposed to using you know like I proposed a a blacklist from ofac that can be implemented in all kinds of I
01:16:22
need to get into the details right but it just it wasn't going to happen and so when John not just being pro crypto but
01:16:29
you know his background his character I thought really was a positive and so even before he got through his hat in
01:16:35
his ring I was talking to him supporting him giving him feedback and helping him
01:16:39
so again I'm not a Democrat I have no problem and I think John deedon will be better for the country better for the
01:16:46
citizens of Massachusetts than Elizabeth Warren would be what would be common sense crypto regulation obviously you
01:16:52
don't want people buking people out of their money yeah so what would be a way to balance accredited investors versus
01:17:00
the populace non-sophisticated investors if that's even a thing so I've got a compy called people are running a muck
01:17:05
you know right so I've got a company called lazy.com and like if you go to lazy.com mcin you'll see all my nfts and
01:17:12
all it is is a is a way to display your nfts it's hardly makes any money but I wanted to see if we could release a
01:17:18
token so first thing I did was I had one of our people call the SEC and say hey what steps do we have to take to release
01:17:24
a to toen they went through this whole rigar about getting Securities lawyers and this and that there's no way a
01:17:30
company with $100,000 in revenue is going to be able to afford to do that so then I said okay I'm gonna go right to
01:17:35
the sec.gov and see about rega and see if I can just fill out the forms myself and you know just see what so you start
01:17:43
filling in name address and then you get to the type of business and the only category is other and once you follow
01:17:49
that other um connection there's just no way to put the um round the just there's
01:17:55
no way to make it work you can't you can't make it work and I actually said that directly to Gary Gensler and so to
01:18:01
answer your question you have to make it easy to follow the rules and you can't and in terms of everything being a
01:18:09
security guzzler says everything applies to hoe right there's a hoe Rule and everything you know but the reality is
01:18:15
there's also a a rule that came after ruling that came after um called Reeves Reeves versus ernston young that had to
01:18:22
do with interest and if you think about if you guys shorted stocks or done stock
01:18:26
loan where you can make some money off a stock loan a borrow yeah yeah so but you
01:18:31
know you can make a share you can make one of your shares of stocks available to the borrower and get paid a vig right
01:18:36
you might get 10 or 12% and so doing that is the exact same thing as loaning out Bitcoin for somebody else to borrow
01:18:45
and there's no they don't call that a security so I asked I Ask Gary Gensler if it's not a security to loan out um a
01:18:52
share of stock and why is it you know a security to loan out a Bitcoin to somebody
01:18:59
else didn't have an answer and the point there is he has an approach that is regulation through litigation he's going
01:19:08
to sue you first ask questions later and hope that the result of that litigation
01:19:14
becomes a rule that everybody else has to follow I literally said what that well I was going to say wouldn't a more
01:19:20
common sense approach here be to say if we had an accreditation test of sophisticated investor test we've talked
01:19:26
about it here on the program do yeah there is well there's not one for the populace to take like a driver's license
01:19:33
where they could say hey I've taken this test I understand diversity diversification Etc if you're able to
01:19:40
register with the Securities um and Exchange Commission for your company for the release of your token then depending
01:19:46
on how many people you were trying to sell it to you would only be able to do that with qualified investors right but
01:19:52
what happens is Gary gendler is is making it so difficult to register and what he's what he should be doing is
01:19:59
saying here's the bright line regulations if FTX wants to loan out all their ethereum you have to do what they
01:20:06
did in Japan you have to have 95% collateral and 95% of anything needs to be put in Cold Storage if he had
01:20:14
followed the same rules for crypto that Japan did FTX would still be in business
01:20:18
and bankman free might still be in jail but FTX three capital they they'd still be in business because did the wrong
01:20:25
thing now I've literally talked to KLA Harris at lunch about this specific topic of litig Regulation through
01:20:32
litigation and as a lawyer she got it immediately and she knows it's a problem and they know and she's even mentioned
01:20:38
in one of her speeches that that's something that they're going to deal with can I can I get your reaction to
01:20:43
the story from the Washington reporter there was a a story I don't know if it's true not post but no Washington reporter
01:20:49
so according to some Senate sources K Harris was considering Gensler for treasury secretary I would call that
01:20:57
okay what's the about that or I I I haven't asked her about any position at all but what I was told and and look
01:21:06
talking to people who are like always in the same room with her the response to me about Gary gansler was have you heard
01:21:13
anybody say anything positive that's intentional well I mean the reason he's in that role is because he is Elizabeth
01:21:23
Warren's right Ally and she has been enormously powerful during the Biden Administration have you heard Mark Mark
01:21:32
boil it all up like what's your general sense of her like how should we all think about her so here's the way I look
01:21:37
at KLA right she is open-minded she's smart she does the work she digs in and learns she's ethical she's honest she
01:21:47
cares um she wants to bring the country to the middle she knows that when she was far left that might have been great
01:21:54
for the State of California but it doesn't solve the problems of the United States of the America of America today
01:22:01
and that's why you've seen her go to the middle and that is truly I know David you might not believe this it is truly
01:22:07
honest and through and through her when she gave give speeches now she says I'll
01:22:12
take ideas from Independents I'll take them from Republicans I don't care we have a lot of problems to solve in this
01:22:18
country I I wouldn't be shocked if if she wins she talks to Elon Musk if Elon would talk to her she doesn't care where
01:22:25
the IDE why would she do interviews with unfriendly or challenging folks this seems to be like you know a really valid
01:22:32
criticism Trump here we had JD Vance here sh I don't disagree look it is not why she why does she hide do you think I
01:22:41
I don't think she's hiding there's two elements there right one I think she understands the assignment which is to
01:22:47
win the election and the best way to reach the most number of people and get them to change their mind is not the 1%
01:22:53
of people who are I am High information voters it's all the people who are showing up at rallies and screaming and
01:22:58
yelling those are the people who people whose mind she has changed so far and that's how she's caught up and who she
01:23:04
wants to change and that's where she's putting her focus and two and this is brutally honest um she has too long a
01:23:11
windup in answering every single question and that makes interviews difficult she wants to inspire everybody
01:23:19
with everything that she answers and tries to get people all excited about what she's going to do so she takes too
01:23:25
long to get to that if you cut out the wind-ups her answers aren't so bad her answers are ABS legit but that windup
01:23:33
makes it seem like the whole word salad thing you don't think it's relevant that
01:23:37
she was born to a middle class family as the answer to how she's gonna Sol I've said she's got to drop that yeah but on
01:23:42
the flip side I mean if you listen I I literally because I knew I'd be talking to you guys I listened to Donald Trump's
01:23:48
speech in Milwaukee did any of you guys listen to that yes I was there okay you were there
01:23:55
was last one no no not Milwaukee not the RNC not the RNC this I'm talking two days ago two days agoing about the RNC
01:24:04
so KLA might have a long windup Donald Trump has an eternal windup where all he does is get to his slogans and talking
01:24:12
points and then talks gibberish the rest of the time let me fill you in in some of the gibberish talking about a rally
01:24:17
he will speak EX extemporaneously for over an hour yeah but what he says should matter I'll take that any day
01:24:23
over someone on a teleprompter 19 David so what you're saying it doesn't matter what he says no I think it does matter
01:24:28
but I think that watch I've watched enough Trump rallies including his speech at the convention where I was
01:24:35
there listening to understand what he's what issues he stands for okay well tell
01:24:39
me what issues he stands for when he diminishes Jimmy Carter who just has his 100th birthday tell me what issues he I
01:24:47
I've heard him say good things and bad things about Jimmy let's put that aside everyone makes fun of Jimmy Carter okay
01:24:51
so let's put that aside let's just say it is what it is even though it's aside we'll go that put that under the
01:24:56
character he started talking about apartments with no windows that Builders under KLA Harris are going to start are
01:25:03
being forced to build apartments with no windows I haven't heard that bit yet yeah oh I listened to this today and
01:25:09
then he also said but I also know that people take a lot of what Trump says out of context to make it seem a lot worse
01:25:15
if you actually listen to if you listen to if you listen to what he says and you
01:25:19
don't try to um you know shade it in the worst possible way a lot of what he says
01:25:24
makes sense I believe that if you if you want to know why I support Trump number
01:25:28
one the Border okay unlike KLA Harris's election year conversion he has been very consistent ever since he came down
01:25:35
the escalator yes that we needed to have a wall and that really that was just the
01:25:40
first part of our border security we need to have a border Democrats not just comma pretty much all the Democrats
01:25:46
fought him on that for the last eight years to the point where understand understand so the bord is one thing so
01:25:51
you got that okay so I think that and only he has credibility in this election on that issue number two on the on the
01:26:00
Foreign Wars we talked about this I mean I don't think his record on foreign policy was perfect but it is true that
01:26:07
he did not start any new Foreign Wars Jo Biden and and and the no what war did Jo
01:26:14
bid the Ukraine war we could have ended that he invaded Ukraine I've argued on the show many
01:26:20
times in my view he provoked it he provoked it you're signing whatever to Joe Biden he got he forced Putin to invade
01:26:30
Ukraine come on stop acting dumb you understand that we tried to convert Ukraine into a giant NATO base that was
01:26:36
the Russians said over and over again that that was a red line to them it was the brightest of all red blame it on bid
01:26:43
Bill Burns our current CIA director said it best it's the brightest of all red L
01:26:47
of all red lines for the Russian Elite not just Putin okay that has been a consistent Russian you think
01:26:54
and more hold on a second even if you don't believe even if you disagree with me and you say that Biden didn't provoke
01:27:00
it we had the chance to end the war in its first month with a deal at Istanbul okay and you know the mainstream media
01:27:06
denied it for a year it was only an alternative media and then finally the New York Times The Wall Street Journal
01:27:12
wrote stories about it it is the truth Victoria nulan just admitted it we could have agreed to a deal in the first month
01:27:17
the Biden Administration shot that down that is why we have the war going in Ukraine okay so let's just say right but
01:27:22
remember destructive and by the way if you care about Israel hold on Mark if you care
01:27:28
about Israel you should be really concerned about the fact that the United States has significantly depleted its
01:27:34
stockpiles of weapons and artillery ammunition in Ukraine on a war that is futile we sent we sent them our old
01:27:41
David we didn't give them anything new we sent them our old Israel gets the Gary lead 155 155 Mill artillery shells
01:27:49
or 155 MIM artillery shells it's not about New or Old okay get the Glen Gary Le Israel gets the Glen Gary leads right
01:27:56
and and look and on top of that selinski there's only so much air defense there's
01:28:00
only so many patriots to go around all right do you agree that zilinski could have said yes to that
01:28:08
deal the the one in Istanbul yeah he could only say yes to it if the US supported it and instead we encouraged
01:28:15
him to fight we threw cold water on that deal we blocked it we should have told zinski you know
01:28:22
what just make that deal we Don't Need Another War right now okay this NATO thing's not happening anyway okay
01:28:28
because we're not letting zilinski into NATO well no the guy from Norway the guy
01:28:32
who just took over NATO says otherwise we're not gonna let in zalinsky was just here in the US last
01:28:38
week with his so-called Victory plan you know what his victory plan was let us into NATO immediately so that you can
01:28:44
fight our war for us you no I get that with the B Administration to its credit rejected that okay I give Biden credit
01:28:50
for that the good news is Biden is not running in this election whenever it's inconvenient you want to pretend that
01:28:56
Harris has nothing to do with this Adra I'm just giv you reality I'm giving you real when I've had people who worked for
01:29:03
me and started went out and started their own companies like shath and and and Facebook right they're not people
01:29:09
have different opinions the people who work for me do what I say period end of story maybe they do a better J she was
01:29:15
just following orders basically then you're in B defense do you think J do you think JD Vance is going to do
01:29:20
anything contrary to Donald Trump if he wins there's an abundant record I know what JD van stands for there was an
01:29:26
abundant record Harris as a senator before she even got thep she was was rated the most
01:29:33
liberal member of the Senate by why don't you answer Mark's question it is the question is what does she really
01:29:38
stand for what she really J question sorry what what's your question I'm happy to answer it would JD Vance ever
01:29:45
go against Donald Trump no I obviously I understand that a VP cannot go against that's it in the nutshell that's it
01:29:52
period and now we cut half the episode now moving on hold on a second that fact does not prove that KLA Harris has a
01:30:00
different policy than Joe Biden whenever it's inconvenient for you to admit that
01:30:05
what doing D no you you're doing the exact thing you saying you're saying that I'm doing you're trying to position
01:30:10
her so that everything from the Biden Administration is she has ownership of it and what I'm saying is just look at
01:30:16
what she's doing look at what she's saying you're what see here's here's the the Trump deranger here's the antithesis
01:30:23
of the Trump Arrangement syndome syndrome right you tell whenever Donald Trump says something stupid everybody
01:30:29
explains it for him when K Harris says something smart everybody tries to explain why it's stupid and not true did
01:30:35
she say something smart I mean seriously what was the last thing she said that was smart just curious Jason you want to
01:30:41
fact check the window list by the way the window list the the window list Thing Mark just so you know because
01:30:46
Nick's shared it with us it's an architectural digest article apparently Eric Adams the mayor of New York
01:30:52
proposed wind bedrooms as a way to change the building codes to incentivize more Apartments being built to fix the
01:31:01
housing crisis converting the problem with converting the pl happens this is the gaslighting they try to make Trump I
01:31:08
mean also I mean Trump lies and you find out that there's a real basis to his some cases he just lies anyway Trump
01:31:15
can't ever explain it himself why is it that the guy that you like can never come out and say Hey you know this is
01:31:21
crazy this is the most ridiculous thing Eric Adam suggested everybody else has got to do the research and explain what
01:31:27
Trump really means cuz he is losing it he is cogn as as an example of trump do you think
01:31:36
he's incognitive client sex no I think he's very sharp we met him personally so let's W let's wrap the politics section
01:31:42
with just a final question because no wait I I have a question yeah let's leave politics Mark very very pointed
01:31:48
question why did you sell the Mavs at this moment so I three quarters of them not the whole thing I still own
01:31:56
27.7% um for a couple reasons one when I first bought in in 2000 I I was The Tech
01:32:03
Guy in the MBA I was the media guy you know broadcast.com just sold it um hdnet just created the very first ever highdef
01:32:12
television network I had every Edge in every angle now fast forward 24 years later um in order to sustain growth to
01:32:21
be able to compete with the new collective bargaining agreement you have to have other sources of revenue and so
01:32:27
you see other teams and all sports for that matter you know talking about casinos talking about creating doing
01:32:33
real estate development hotel that's just not me I wasn't going to put up two billion dollars to you know to get an
01:32:40
education on building that so that was one that's part one part two is my kids are now 15 18 and 21 and over the next
01:32:50
10 years that's a lot of pressure on them to have to take over the team or deal with the trust you know God forbid
01:32:56
something happens to me deal with the trust fund issues and so by selling three4 of it I took all that pressure
01:33:03
off of them because you you guys see the hate I mean Jason can tell you all day long about Jimmy Dolan you know he's Mia
01:33:10
right now and the Knicks are doing great do you think valuations Peak Mark I don't think they've peaked yet because
01:33:17
it it for the reasons I just mentioned if we're able to build a Venetian type Casino
01:33:24
and Dallas with an American Airline Center in the middle of it the valuation is $20 billion but I own 27% of that uh
01:33:33
well and you bought it for under 300 and you sold at 3.5 just not everybody's keeping the records I think chath you
01:33:39
bought a 300 and sold at 3 billion as well so congratulations boys actually let me ask you a question about that
01:33:44
when you did it did you just do it for fun and it worked out to be a great business or did you think it's was going
01:33:48
to be a great business no I did it for fun so you know this a great question DAV um from 2000 to
01:33:54
2010 the the actual valuations went down and in 2010 we were not even able to sell the New Orleans Hornets the league
01:34:04
had to buy it right and it was right around then that the Sixers got purchased for 200 for the same price I
01:34:10
paid and you know the um the cap the NBA um salary cap is a reflection of the total revenues of the NBA there were
01:34:18
multiple years when the salary cap went down meaning our overall revenues went down which was great for me
01:34:25
competitively because I would buy first round picks for $3 million I would buy players from other teams that couldn't
01:34:32
afford to run their teams and that's why we went on this you know 15year streak of never having a losing season and
01:34:38
winning 50 games in a row for for for 10 years in a row so um you know it worked
01:34:43
against me worked for me competitively but that just shows you that things can change and so I didn't what's thatv deal
01:34:51
so when when um cable and satellite and um over the air became very competitive and they started to grow and
01:34:58
subscriptions grew to 130 million people um or subscriptions that's a lot of money and they had to compete for
01:35:07
Content so that there would be less churn and I I literally remember in 200 U and one when we first signed a first
01:35:13
cable deal they NBC had the deal and they were going back to David Stern saying we need fewer games and I sat
01:35:21
there in one of our Board of Governor's meetings and I'm like look TBS just signed a deal to pay a billion dollars
01:35:28
per episode for repeats of Seinfeld if you do that on a valuation per hour ours is fresher our ratings are actually
01:35:36
better don't think of it as as um less um Avail less product will lead to more demand it's the exact opposite we're so
01:35:45
inexpensive we can charge more and that led to the next TV deal and that led to the explosion Mark you have a lot of
01:35:51
fingers and a lot of pots and other business say you have a really important thing you're doing in drugs that you may
01:35:56
want to talk about yeah thanks for bringing that up smth if you look at the next 10 years of your life so you're 66
01:36:02
between now 14 years between now and 80 81 what's your goal like what are you working on what are the things that you
01:36:10
care about where are you putting your Capital what are you trying to do but number one's family obviously but beyond
01:36:14
that is cplus drugs.com um we're up the health industry like you wouldn't believe if you've seen just explain it
01:36:21
for the folks that don't understand let's just say guys our age or you guys are close enough to my age we
01:36:27
use a drug called tadil right for those of you who know what it is and you it's generic
01:36:36
seis SM from you guys wait we gotta double click on this so I've heard from saaks so you've heard
01:36:43
from Sachs are you a seis or a Viagra guy saaks what's going on here anyway both so seis just seems
01:36:51
better value for money what are those never heard of them like what is that never heard of them he's
01:36:57
turning red actually so if you go to Cost Plus drugs.com and you put into Dil when it comes up we show you our actual
01:37:06
cost and then we mark it up by 15% and if you buy it via mail order then we had $5 for a pharmacy fee to review
01:37:13
everything and $5 for shipping and handling the net result of that is you guys have a general idea of what the
01:37:19
price is now from all the ads you can buy A9 pack of toila for about $9.90 plus shipping and handling so for less
01:37:29
than the price of a bag of M&M's you could put up a a little cup or jar next to your bed of either M&M's or the name
01:37:38
of this website. be right back $9 for 90 days right we're like let's go that seems free it's incredible deal
01:37:50
so and but you apply that to the 2500 drugs that we have have and now all of a sudden you see what's wrong with these
01:37:56
things called Pharmacy benefit managers and the problem of an industry that's opaque and I'll give you another example
01:38:02
there are drugs that are called specialty generics and the only thing special about them they're actually just
01:38:07
pills is that they're they were traditionally more expensive so there's a drug um called aat nib which is a
01:38:13
chemotherapy drug if you just walk into um a CVS as an example and I a big big Pharmacy um and just you have a cash
01:38:23
payer or a high deductible payer and you just needed it they'll charge you anywhere from $200 to $2,000 you have no
01:38:29
idea what you're going to pay if you get it from Cost Plus drugs depending on the
01:38:33
V the number and the strength it might be 21 to $30 there's another drug droxidopa one of my buddies came to me
01:38:39
and said I'm losing my insurance they want to charge me um the pharmacy wants to charge me $110,000 a quarter for this
01:38:45
medication called droxidopa all right Landon let me check then initially was $64 a month now it's in the $20 per
01:38:52
month because the our cost goes down we pass it on and that's just changed the industry because think about what
01:38:58
happens when you get a prescription the push back but Mark I mean what is the push back you get because that's that's
01:39:05
none count it's counter to the trend right so is it just infinite growth or how does the industry respond when you
01:39:11
create that price differential so it's the innovator's Dilemma they can't just give up all of this margin they so most
01:39:19
of the business of Pharmacy benefit manager not most so a big chunk of their businesses comes from corporate um from
01:39:25
corporations right and self-insured companies and they go to them and they put together the thing called the
01:39:31
formulary which is all the drugs right that's available to them and they say we're going to price this so that we get
01:39:37
rebates and we'll pass on the rebates we get from the manufacturers to you now they say they're going to pass on 100%
01:39:43
of that rebate they don't they create all these subsidiaries and everything that skim 10% or whatever off the top
01:39:49
but they know that they can continue working with these companies because the core comp of a CEO is not to know their
01:39:55
healthare costs and literally for any CEOs that are out there audit your PBM contract audit it right now I promise
01:40:03
you that that PBM is going to tell you you don't need to audit and then you can say we want to add Cost Plus drugs to
01:40:10
our pharmacy supply contract and they're going to say no you're not allowed to do
01:40:14
it because they know our prices are so much lower that is disrupting their industry are you doing this as like a
01:40:21
for-profit business are you losing money on this and doing it just to help Society what what's your plan here right
01:40:27
now um I'm losing money and most of that was because we built a factory a whole robotics driven Factory that
01:40:33
manufactures um sterile injectables that are in short supply so now like with the
01:40:38
hurricane you know we're using our robotics to switch over to sterile water of all things and some other things so
01:40:44
that we can manufacture it and get it to them at you know a reasonable price as opposed to price scalene which KLA has
01:40:51
talked often about so you know cuz there will be price Galene in in Pharmacy and
01:40:56
we're here to be an alternative so to answer your question I've spent a whole lot of money on these Robotics and
01:41:01
putting this together but our path is hockey stick double triple hockey stick and so we're taking business from them
01:41:09
and I think the traditional Legacy companies in the did something did something happen to you or somebody
01:41:16
around you that motivated you to go after the pbms or with just his clinical business analysis of like this just
01:41:21
doesn't make sense and it can be done better so both um what happened was I got an email from my partner co-founder
01:41:27
Dr Alex oshansky and he wanted to create a compounding pharmacy in Denver that made drugs that were in short supply
01:41:35
because there's always for whatever reason some generic drug that is on a shortage list and I'm like you're
01:41:40
thinking too small and this was right around the time that the farmer bro was going to jail and I asked him you know
01:41:47
how is it that this dude buys up a one-year supply of der Prim the drug he bought and just jacks it up and how does
01:41:54
that happen and he goes it just happened I'm like well let me do some homework and dig in and the reason was obvious
01:42:00
the industry was completely opaque the first line in every single Pharmacy contract and Health Care contract for
01:42:05
that matter is you're not allowed to talk about it you are restricted from talking about this to anybody anybody at
01:42:12
all so we had a completely opaque market so we put together the website called cplus drugs.com but really the smartest
01:42:19
thing that we did and it was unintentional in terms of impact we created a full price list so you can
01:42:26
get our 2500 drugs the actual price list and we release it every week because we're on a roll now where we've had
01:42:33
since last a year ago more than a year ago every weekday we've lowered a price on a drug and so we just put that out
01:42:39
and what's happened as a result is now companies can just get the price list and do comparisons to approximately what
01:42:45
they're paying because their PBM won't tell them exactly what they're paying no I got I have one suggestion for you
01:42:50
there mark you can make this a nonprofit when you sell the Mavs you could donate
01:42:54
money to this then like six seven years later you could flip it into a for-profit and take it public there's
01:43:01
like a strategy here this could work out exctly J exactly the point and you know
01:43:06
Sam mman is an investor no I'm just kidding um and so um so we put out this price list and all of a sudden Harvard
01:43:15
Medical and Vanderbilt and um the all these research institutes took our pricing and compared it to what Medicare
01:43:23
was paying for the same drugs and it was like well this is what I was going to ask you because CMS is now empowered to
01:43:30
negotiate yeah and this is sort of maybe ties together with the governmental efficiency and just do the obvious right
01:43:36
thing but shouldn't they just work with you as an example and and why don't they
01:43:43
they are and it's just starting they are right so here again I can't speak for her to say what she's going to do but
01:43:50
here was the conversation I've had with her team when it comes to reducing out-of-pocket costs to deal with
01:43:56
inflation what I have told them is one key area that impacts most families at some level nobody dies
01:44:04
healthy is the cost of healthcare and pharmaceuticals and by working by requiring transparency in all contracts
01:44:12
signed by anybody anywhere in terms of pricing you are going to see the same impact on across the board pricing of a
01:44:18
decrease of 30 40% and so all that is going to reduce out of-pocket spending for everybody reduce government spending
01:44:26
for everybody and have a net positive impact they see that they know had the had that conversation with the
01:44:33
Republicans as well so that I mean seems it makes sense for everybody I had the coners a similar conversation like as I
01:44:39
mentioned you in the white house when I went there um and it just didn't resonate boys any any final questions
01:44:44
from Mark here as we uh not gonna ask me about Elon and why troll Elon and any of
01:44:48
that good stuff I I want to know about are you investing in AI techn techology where are you investing in the stack how
01:44:55
do you think about that are you an active Venture investor Mark I mean I know we've obviously done some stuff
01:45:00
together but I'm curious like how how you look at stuff so now I've kind of slowed down I invested in grock right
01:45:04
with shamat right shamat is yeah let's go right and he can tell you all the reasons I we all I think we all have a
01:45:10
piece of that now okay well good so you guys know the whole story right and so I
01:45:13
think that that's great picks and shovels I think are important I think the problem and this happens with all
01:45:18
new technologies is we're seeing the Gold Rush right now where everybody calls everything AI particularly with
01:45:24
agents and I think you can put all these vertical agents together to do all these
01:45:29
different things but agents are just going to be a feature not a product because inherently in AI as it advances
01:45:35
and gets smarter then it's going to be able to create its own agents for its users and go forward from there so I've
01:45:42
been really hesitant now because you know you're not going to invest in in the foundational models I mean through a
01:45:48
fund I have part of um open AI but and some others but it's that's just so expensive you don't know who the winners
01:45:55
are going to be but yet everything that everything that happens is going to be a
01:45:59
derivative of them what's your business intuition tell you about that actually so you have this crazy Capital race
01:46:05
between closed and open how do you think that plays out I think there are going to be um
01:46:12
tens of millions of models everybody's going to have a model your kids are going to have models you know their
01:46:18
little um invisible friend is going to be a model that's in a you know a teddy bear um that they grow up with so
01:46:24
there's going to be an unlimited number of models but we don't know who the winners are going to be to host those
01:46:30
models I have no idea and if you go back over the history of Technology it's that's always the case everybody there's
01:46:38
always a race to be the winner for the foundation whether it was Broadband whether it was networking whether it was
01:46:44
whatever streaming and everybody battles it out and so it's okay and I for me now
01:46:49
I'm just like let me just wait let me you there's a think there's going to be or a chance at Job displacement what do
01:46:56
you think of like this uh Universal basic income cataclysm I think I think it's the exact opposite I think so I
01:47:03
think that in order to train a model you need access to information and the internet ain't what it used to be in
01:47:11
terms of being a source of information right and so IP is becoming more valuable you're not I think everybody by
01:47:18
this time expected um all the foundational models to have all this Healthcare information but if I'm Mayo
01:47:25
Clinic I'm not giving Microsoft or Google or open AI my IP because that's what brands me and so there's going to
01:47:33
be a lot of money available there and I think um that there that is got to be a way to there's got to be a way to figure
01:47:41
that out right first how does IP work and how is it distributed and then how are we using it just in general we
01:47:49
really don't know how we're going to implement it or use it or what the the interface is going to be and all that
01:47:54
will be figured out by some kid somewhere so maybe just a wrap Mark so these these next 10 or 15 years is it
01:47:59
about doubling down on these current things making Cost Plus thing huge like harvesting essentially or are you going
01:48:07
to do new things or does just the bar you know when I'm gone I wanted to say he did it was expensive
01:48:15
when we were sick it ain't expensive no more and to me that's that's the ultimate Mission now it's fun to learn
01:48:22
AI and you know build models and do all that stuff right um but when it's all said and done to me
01:48:29
that's let me ask you a final final question then uh We've uh you you've done a reality show just retired from
01:48:36
that cashed out of three qus of the Mavericks check did that um helping people with uh this Cost Plus drugs and
01:48:46
and saving people money it's a pretty noble Mission kind of adds up to you're going to run for president and there's
01:48:53
no way no why not it would be a great thing to do you've checked off all the boxes why would he too old now too old
01:48:57
now right Mar what are you talking about 20 years younger than Trump and bipia is
01:49:02
wrong I changed I'm a sock puppet in my spare time I changed four years from now
01:49:06
eight years from now would you would you even consider it or you yeah right of our era right how
01:49:13
would you process making that decision my kids hated the idea my wife hated the idea they want you know it's hard enough
01:49:18
for them to have a normal life as it is um and that just takes to a whole another plus you'd have to run as a
01:49:24
republican because Democrats hate billionaires like you Bloomberg right you saw what happened to Bloomberg yeah
01:49:30
but $100 million made it to the first question of the first debate boom Elizabeth War knocked him out but let me
01:49:36
just tell you this and we don't have to talk more about politics parties don't exist anymore they don't they're there's
01:49:42
fundraising vehicles and they have procedures in place but this is Donald Trump he took over the Republican party
01:49:50
they do what he says and KLA Harris has learned from Donald Trump give him credit she has learned what worked for
01:49:56
him they're not stupid she has learned that she has got to be that personality that takes over and they' have got to do
01:50:02
what she says you haven't heard a word from Bernie or Elizabeth Warren and that's not unintentional she is doing it
01:50:08
her way now whether or not you agree what she's doing or her approach to win everybody can argue and that's what
01:50:14
makes a market but there are no political parties anymore and the idea of the the ideology of a party on the
01:50:20
Democratic side is no more in place than on the Republican side all right so uh with that my Nicks got a shot this year
01:50:27
what do you think yeah I thought the trade was great I thought trade was great trade was great C I think cat's
01:50:33
great I mean he's a little weak on the defense but he's but with KP right that's what they're doing how do they
01:50:39
match up with Boston and so KP and Cat match up and that's why we got a shot you're saying there's a chance Myck
01:50:46
might get there I'm saying you and Jim Carrey have a lot in common there's a chance all right everybody this has been
01:50:52
another amazing episode thanks come back anytime Mark and we'll see you all next time byebye
01:50:59
thanks guys that was awesome they'll give you instructions and I upload and I'll see you a game soon appreciate it
01:51:03
you guys are awesome cheers and I don't mind arguing Dave I love to argue this stuff right I know I know look I give
01:51:09
you credit you're fun to talk with and argue with and you obviously don't take it personally and I appreciate that and
01:51:16
uh yeah I give you credit for having fun with it I know too many depressed billionaires
01:51:20
so I give you I give you a lot of credit yeah I don't get that but you know what
01:51:25
if you were if you were when you were poor you're up when you're rich right and it just doesn't change
01:51:30
anything I was hoping you we talk about Elon actually well we could still go there where's Jacob we can still go
01:51:35
there you can ask the question if you want all right two of my besties last 25 years you and Elon is this uh you guys
01:51:44
just uh goofing on each other you got an issue with Elon that's sincere or is it
01:51:49
just playful fun trolling so two things one as an entrepreneur elon's like the of the of the right yeah
01:51:57
there's I'm a huge fan what he's been able to accomplish is insane it's incredible I would never diminish
01:52:04
anything he's done as an entrepreneur as a Twitter user he's a troll and I mean he just trolls to troll to troll and
01:52:14
every good troll deserves a foil right somebody to troll back and it's just so easy and so much fun um now you know I
01:52:22
get some of the underlying principles I think at least in my mind like when he talks about what do you think about the
01:52:26
First Amendment principle that he's doing here of like radically changing Twitter from like it's pretty control to
01:52:34
hey anything goes I think that's almost anything goes I think that's a fear of losing um users so I think that within
01:52:43
the conservative Community they are more joiners and heavier um social media users participants yeah yeah
01:52:51
participants so they they subscribe to more things they listen to more podcasts they're more
01:52:57
active and I think you recognized that and that was a fundamental underpinning of why he kind of connected to them on
01:53:06
the free speech thing because he still has its limits obviously it's his platform and what he doesn't want
01:53:12
doesn't get shown so I think that's why and I can't blame him um I wish he would
01:53:17
call me I'd help him on on his his revenue and all that and then I think on the immigration side
01:53:23
here's my theory and you guys can tell me if you agree or disagree I don't think he's
01:53:28
anti-immigration like he says you know anti- illegal immigration um where anybody who's in the country should be
01:53:35
deported I think as an immigrant himself and I'm second generation you guys are you know immigrants at some level we all
01:53:42
are but I think as an immigrant himself he thinks that the number of illegal immigrants in this country and the hate
01:53:49
that's pushed towards them carries over to Legal immigrants including himself and I think he by he
01:53:59
believes that by diminishing the illegal or the non-citizens in this country and
01:54:05
asking for their removal it improves the standing of the legal immigrants including himself and so that's kind of
01:54:12
my theory on on both of those things interesting yeah it's a it's certainly different honestly I don't think you
01:54:19
need much of a theory to explain elon's views because he's just so transparent about what he believes I truly believe
01:54:24
that his core conviction and the reason he bought Twitter X is because he wanted
01:54:31
to unlock it as a free speech platform yeah I don't I don't think so well I don't know how much more money he can
01:54:36
lose in pursuit of that go but see here's why here's why I disagree you don't take other people's money to do
01:54:43
that if he put I don't think he knew he didn't know that he would get boycotted by all these advertis advertisers but he
01:54:49
knew he knew that I think he went in open eyes carried the sink in the door to run it with some improvements
01:54:58
operationally which he did a great job of and to taking out a huge amount of the cost structure which he did but
01:55:04
Jason and I were there on the first day the first day he took over there was an organized boycott of advertisers and
01:55:10
they called him anti-semitic which is ridiculous before he even had a chance to one thing about that site so I've
01:55:16
heard from a lot of those folks um and it's not so much look when you talk about Free Speech
01:55:24
Free Speech applies to advertisers as well they get to associate with whoever they want to no matter what so so there
01:55:31
there are un unless there's a unless there's a a collusive effort going on to sort of organize I get that organization
01:55:38
just dissolved immediately so there weren't but look I could from my own self right I don't understand why you
01:55:44
won't give them credit for believing in free speech that's clearly I I have no problem with free speech look I've
01:55:49
always said people like get rid of the anti people you get anti-semitic tropes I get you know zillions of anti-Semitic
01:55:56
tropes you know in my in in my replies just they're nonstop I mean I'm not white you know my grandparents changed
01:56:03
their name to from chabinsky to Cuban not even intentionally and so it's always your real name is chabinsky wife
01:56:08
there's just the hate there is insane and my attitude has always been I want to know who the morons are I have no
01:56:15
problem with them still being allowed on the platform but the tradeoff is for advertisers they don't want to be
01:56:21
associated with that there is no upside for being on Twitter right now or Exon right now and you add to that the porn
01:56:29
kids 13 years old can go on that site and you can find any insane thing you want on X right now and that also is a
01:56:38
problem for advertisers that's part of Free Speech but you got to pay the bill when you're willing to accept that I
01:56:45
don't think he realize just how deep users will go in order to use their free speech and I think that really surprised
01:56:52
him and so that's why I don't think that he bought it specifically for free speech because I think he's always one
01:56:59
of the things I really admir I don't know I mean he said he said before he bought it that he was going to open it
01:57:03
up as a free speech platform and this is why hold on this is why the left immediately started boycotting him
01:57:09
before he even changed one policy Jake out help me out you were there the first freaking day I know for a fact was a
01:57:16
free speech mission for him I do think you know multiple things can be true Mark you are correct that if you have
01:57:23
spicy content advertisers don't want anything to do with it and they have choices and it's also one of the smaller
01:57:29
platforms they have choices that have more scale so that makes it even easier and it's also true that they're
01:57:34
boycotting him and specifically targeting but all these things are happening at the same time that's fair
01:57:39
and I and I think you know when you look at what he's done there we'll look at it
01:57:44
historically as this place that was very controlled and clean and owned by the press and the elites became this chaotic
01:57:54
thing but also ultimately the one place where at scale you cannot be cancelled and you know if you look at cancellation
01:58:02
as a concept the number one place to get canceled was Twitter you said something
01:58:06
even slightly off man they came down on you they destroyed you and now now that we've gotten rid of cancel culture and
01:58:12
people can say what they believe and people can make I don't know why it's necessary to find I do think let just
01:58:19
finish the thought I do think that that will be looked at as a beautiful thing that he gave to society as a gift and it
01:58:24
will be looked at as a a really challenged business because it was an ad business that lost its advertising base
01:58:30
and apple and Disney have choices I don't see the need here to look past or or to look for an ulterior motive in
01:58:37
what elon's doing Elon believes in free speech it's very clear he's run the platform that way and it's cost him
01:58:43
money so what else could the motivation be except his principles obviously but he was also addicted to it I can tell
01:58:49
you that as the person who got him I know but that's not that's not why he's running run as a free speech let me give
01:58:56
you my calendar to that you know him better than I do I why why are we even having this debate who cares I mean I'm
01:59:01
just CU he run he's running as a free speech platform yeah and that's fine obviously it's his choice that that is
01:59:07
free speech by Def let me ask you actually to me this debate is is kind of pointless but let's let's talk about
01:59:12
actually the the issue there's a new story this week where open AI just raised was it six billion at150 billion
01:59:21
valuation um they originally started that Enterprise with 50 million or so from Elon it was a nonprofit then they became
01:59:30
a for-profit now there's a report saying that they're telling investors in this round that they can't invest in any
01:59:37
other AI companies so they're acting like I mean they've gone from nonprofit philanthropy to piranha for-profit
01:59:45
company that's pretty sharp elb Sam is sharp elbow Sam said he wasn't going to take compensation now he's getting
01:59:50
compensation yep I mean what do you think about this I mean look it's their company they get to do what they want
01:59:58
period false pretenses I mean if but then don't but but don't invest I mean he didn't invest he gave him a donation
02:00:05
let me which leads to something I want to say very positive about Elon put aside his genius in coming up and
02:00:11
running these companies the one thing I I respect the most about Elon Musk and he does more than anybody I've ever seen
02:00:19
and that is he goes all in he doesn't just you know he takes every scent he has and he believes in it and he goes
02:00:27
all mother in he never Hedges his bet at all until Twitter right that's why I say
02:00:35
you know he brought in investors you know he brought investors to Tesla and everything but initially he went all in
02:00:40
himself you know I think with Twitter I think he was kind of surprised but going
02:00:44
back to open AI I don't I wouldn't do business with people like that and there are people
02:00:50
who just look for what think is the next big thing and I certainly could have given him money didn't give him money I
02:00:57
said one of our funds that I'm in G did give the money originally didn't give them money another time to me that's
02:01:02
just wrong and that catches up to you when people over investors and whatever it always comes back karma's a in
02:01:09
business too now you know Gemini with Google I've done a lot of stuff with them notebook is insanely good Gemini
02:01:17
1.5 is insanely good meta as open source on what they're doing doing is getting better and better there is no you know
02:01:25
it there's nothing that says that open AI is going to win nothing at all and so I don't feel bad about what they're
02:01:33
doing and to me it tells me they're more scared than anything by trying to restrict what people are doing y That's
02:01:41
perspective is it says it's more a reflection of Sam than anything else is is what you're saying yep well I mean
02:01:49
that would be reflected in the fact that so many people who are the co-founders have left yeah um that that's a really
02:01:55
big red flag this thing is going to change the world every all the co-founders leave I heard 40 of the 44
02:02:00
co-founders left yeah the original employees I mean I don't know if that's true but that's and then if you well I
02:02:07
mean if you also think about this business chth and where it's headed sorry there wait there were 44
02:02:12
co-founders the Donald Trump c m thing yeah yeah no but I mean if you we we did a joke about it last week but if you
02:02:20
just look at the the competition set that they're up against they're losing 5 billion a year they're making three and
02:02:26
a half they put this thing at 150 billion it's 40 times 50 times Revenue to fill in that valuation on a price to
02:02:34
sales basis you know it's kind of crazy here's the one thing that I'll say and I
02:02:39
think Mark said this in a different way but I'll just I don't think you can underestimate how companies like Google
02:02:47
Microsoft Facebook Apple Amazon will react when they feel cornered and I think in in the last 20 to 25 years what
02:02:58
you've seen is those companies when their backs are against the wall they use money their sharp elbowed but the
02:03:04
consistent thing is they've won and so the real question is do people look at the chart of the users because typically
02:03:10
what happens is it's users what tilts these companies when something some upstart you remember when Snapchat was
02:03:17
about to explode yeah there was a decision we're going to decapitate this company Facebook did that they relegated
02:03:23
it to the Zinga there's many so the real question is when they see that this app
02:03:30
is going to be at three or 500 million M and they appear on some list where they're bigger than I don't know pick
02:03:38
your favorite app inside of meta or Google ever yeah will they freak out and if they do freak out what do they do oh
02:03:44
I can tell you they're freaking right now oh yeah it's an it's an existential risk to them right and the crazy I mean
02:03:50
look what Microsoft did they bought thre Mile Island the nuclear reactor they bought it everybody's
02:03:59
looking for the ankle and the crazy part it's really crazy yeah there used to be
02:04:02
Mo's law that everything followed right the price performance curve always went like this you know when power goes up
02:04:08
now because you don't know you don't know what you don't know and what you need to do next that's part of the
02:04:13
challenge that um Elon has with Tesla in terms of full service driving you don't
02:04:18
know what you need to do next to get there to solve problem you have a Tesla Mark I do and I do also I also have a
02:04:25
Kia EV I have a Tesla EV and I have a Kia EV do you use the FSD and if so how is it what do you I have but I I stopped
02:04:32
using it just because it terrified me um because it doesn't know what adversarial
02:04:38
things that doesn't know because you know you know anything that's adversarial that something it has to
02:04:43
train on something that's seen and it's not smart enough to um figure out what it hasn't seen and whether or not it's a
02:04:49
risk and I've said this before my my um four-year-old mini Australian Shepherd I
02:04:55
can put it in a risky situation to cross the street and Trust it'll get across the street no matter what it is it
02:05:02
doesn't have to be pre-trained you can't do that with um full service driving yet
02:05:06
and so until that gets to where it needs to be where adversarial issues aren't an
02:05:11
issue I'm not going to fully trust it I have the 12 Mark you've been really fun to talk
02:05:19
to so good to you this has been over time with the Allin podcast with Mark Cub we'll see you all next time got it
02:05:25
guys thanks so much love you byebye let your winners ride Rainman David and in said we open source it to
02:05:38
the fans and they've just gone crazy with it love queen [Music] of Besties are that's my dog taking a your
02:05:56
driveway oh man my habit will meet me at we should all just get a room and just have one big huge orgy cuz they're all
02:06:03
this useless it's like this like sexual tension that they just need to release [Music]
02:06:12
somehow we need to get merch our [Music] I'm going all in