E24: Markets trend down, political pandemic manipulation, stimulus breakdown, biological Patriot Act

i got a counter to the other another another billion dollars i lost i've lost two two billion dollars in the last two days are you guys recording please record this it looks like we looks like we need a poker game tomorrow can you imagine how tilted your mother's gonna go yeah he's gonna be he's got a million in he's going to buy in for 2 million just to try and get even let your winners ride rain man david source hey everybody hey everybody welcome to another episode of the all-in podcast we took a week off and boy that was sad i missed you guys i missed my best we should tell people we had a we had a small medical procedure for one of the besties and uh but everything's good and uh it was planned so you know nothing nothing out of the ordinary but we just needed to take a week off that's why we missed a week and that's what we're about yes and one of the besties uh god i got so many jokes i'm

not going to tell all the jokes that came into my mind right now would get me get you cancelled really just i literally had seven jokes i can't tell any of them based on the amount of money that i've lost in the last two days i'm ready to get cancelled so it's fine put them in the chat and i'm just gonna [ __ ] let them rip all right everybody david sacks the rain man is here calling in from an undisclosed compound freeberg the queen of quinoa back in action and the dictator himself licking his wounds two billion dollars for a billion a day keep it going checking the apple stock app hitting refresh and going thank god these companies have fundamentals because i haven't seen this much blood since game of thrones jason honestly at this run rate i can lose a trillion dollars

how do you feel today how does today feel compared to last march when the same thing was happening you know every day the market was down 10 well this is what's important we made a joke it was like it could only go down ten percent so many days in a row march march uh 31st you you guys have to remember that march 31st of 2020 the headlines all over the press and you can you know go to the wayback machine and look at these things but the dow was down 20 some odd percent the s p was down 20 and it looked like the world was going to end and then we had our first big stimulus bill um and things started to look china started to reopen slowly and things started to look better and what's interesting is you have this rotational sort of deleveraging that's happening

right now people are repricing in inflation people are moving into sort of these you know overlooked stories getting out of growth a little bit and it's a bloodbath um but i would just i would just encourage us all to remember that we were in some pretty dark days in march of last year as well and you know when you looked at it by the end of the year it looked amazing so i would just add to that the markets are looking pretty grim for tech stocks right now but this all started because of a really great jobs report showing that the economy is roaring back so we added 379 000 jobs in february which beat expectations by 200 000 they also revised the january gains up 166 000 so now the unemployment rate is down to 6.2 percent remember it was at like 15 percent

you know last summer during the the lockdowns for covid so i mean all of this is fundamentally due to i think really great news in the economy because covet is ending and which kind of begs the question of why we need another 1.9 trillion dollar stimulus bill but but i think that ultimately there's a lot of good news in the real economy and what investors are doing is figuring out how to now price or reprice uh all these different stocks in light of the economy roaring back so just a little just a little math lesson to build on what you're saying you know everybody has a risk-free rate and all stocks are priced according to that risk-free rate and when you know for the many for the last sort of year particularly when risk-free rates were essentially zero to negative meaning you know that's that's the riskless money where you that you get from

the government um it was hard to do anything except belong growth stocks in a big big way but david to your point if we get two or three more quarters of these kinds of jobs numbers you're going to have a you know low single digit unemployment number and what that means is wages will have to go up for businesses to compete and that's the kind of traditional form of inflation that actually reprices things because you then you lever up rates to kind of control inflation when you lever up rates and you you know all of a sudden they're not zero but they're two three four five six percent this is sort of what brought the tech bubble to a halt in 2000 which is that

you know you had six percent real rates and so you can't own businesses that are projecting revenues let alone profits in 2026 um when you can invest your money in a bond and make six percent six percent and that's what i like so just for folks that don't know this week started with this big bond sell-off and what that means is bonds that used to yield zero percent when you sell them they're now yielding 10-year treasuries i think are at one and a half points right and so as an investor if i can make one and a half percent with no risk by owning u.s treasuries over the next 10 years that may feel like a better bet than owning some risky asset

some speculative company now the other thing that that it has done and chamoth correct me if i'm off on this but what i'm hearing is that that higher rate because bonds sold down because people are expecting inflation to come back up the interest rates to borrow money are going up and so if you're a hedge fund or an institutional money manager over the last year or so you've been able to borrow money for zero percent you can lever up your portfolio and and and buy as many stocks as you want without paying any interest on it and now that rates are creeping back up people are de-levering they're they're taking risk off and that's causing a sell-off in both bonds

and stocks and especially on the speculative end of the market where you know there's been um obviously unchecked kind of investment capital no you're you're going in you're you're absolutely right like look at the at the end of the day the cost of borrowing for a company goes up what that's really saying is the investor that's lending them the money um you know has other alternatives um and so then they're willing to charge you more and more for this for this capital and as that happens you'll see some companies get into potentially some real trouble because you know they're gonna be borrowing money at rates where they can't necessarily generate the cash flows in the future to pay those things back at the same time as you said if you look at sort of like you know the spac market has taken a real beating

um what are what are spacks really well you know in many ways spacks are synthetic bonds right and and the reason is because you know if you go and buy a if you go and buy us back one share of any spac you have the ability to redeem that if you don't like the deal that it does and get back your coupon so you know you're notional rather so if you were to buy a government you know german bond at negative one percent or by any spac where you can put that same you know ten dollars to work and get back ten dollars well you do that versus getting back nine dollars and ninety cents so in many ways like you know the stock market benefited from rates at zero because you could

synthetically be long spax as almost a way of being synthetically long fixed income now as rates go up that's not true so what that leaves in the space market are actually people who want to own long-term equity and if you combine that with what we just said which is the cost of capital going up and the discount rate going up now all of a sudden companies need to be really real and you're seeing that because if you look at the companies that have just announced back deals just in the last few days their stocks have gotten absolutely obliterated and they're right on the knife's edge going into the redemption period so if you have one or two more months of this where all of a sudden bonds look better and you know some of these specs post announcement but pre-dece packing

go through you know ten bucks a share people just redeem for ten dollars um and you'll have you'll have a bunch of busted ipos by the way by the way another thing we're seeing sorry jason another thing i think we're seeing right now is in the near term is a feedback loop so as selling takes place what happens is market participants are jumping in and short selling and participating in the trend of that stock and so there are these these kind of experiences that are underway where it's not just about a sell-off of owners but it's also about a momentum trade that a lot of people are playing into and so there is a very short-term extremely compounded effect of the de-levering that's happening in the cycling that's happening in these markets and so it's super volatile and probably will be for a little bit of of time here right i think so i think we need to figure out whether there's really um whether there's a real inflation risk dragon cooking someplace if there if there really is inflation like again

you have to think like the trillions of dollars we put into the economy eventually has to come out in productive goods and services and all of that excess capital will probably inflate prices now it begs a different question which is we maybe we've just actually been missing inflation all along because if you ask somebody who lives in a city you know what the cost of rent has been that that thing has been inflating by feels like twenty percent a year for years so you know health care and education costs and health care and education so maybe we've just done a really terrible job in the last few years of actually measuring inflation the way it should be you know it's calling this whole basket of you know you know cpi x energy like i mean it's kind of nutty maybe the whole thing just made no sense a few years ago anyway to david's point and david gave me just a huge bag of red pills while we were off this week so i've been

just i've been on a bender on these red pills but if you look at those three categories what do they have in common education health care and housing massive regulation and then if you look at the things that have gone down consumer goods electronics food et cetera or have stayed flat in terms of inflation those are things that the free market participates the government's not involved and it's not just the fact there's a lot of government regulation in things like health care and education it's also that the government pays for a significant portion of it and so there's no reason for the people you know who are billing the government to keep costs down i mean this is why the price of education of a college degree keeps going up is because the government's paying for a lot of it i i i i j david you probably i think you you may have seen this but when you know when we

announced um our merger with clover for ipoc one of the first slides i put up there was the only place in the market since 2010 where you would have made more money than being along facebook and google and apple and amazon was being long united healthcare cigna wellspring and the reason is because healthcare was this incredible thing post-obamacare nobody wants to talk about it on the left because it makes it look terrible but we created massive price inflation and united healthcare was a 30 billion dollar company narrative violation be careful right before right before obamacare passed today it's a 330 billion dollar company um and the level

of growth that they and aetna and you know cigna and wellspring these [ __ ] these companies have have seen is astounding so these highly regulated you know systems of societal infrastructure that's where all the gains have been regulatory capture writ large right well as soon as the government is paying for it all the suppliers know they can increase their prices why wouldn't they so it's it's what happens is the government tries to make something free for people and all they end up doing is making it really expensive well they make it they they make it up to maybe now they make it expensive in this very in this very convoluted way which is hard to track right because it's like you know uh who's actually paying well you know the insurance companies want to just book more

revenue even if they're you know even if their gross aggregate profit grows much much more slowly they'd rather make the same amount of profit on a billion dollars versus 100 million dollars so what do they do their incentive is to just jack prices up who are paying those prices companies pay those prices who bears those costs all of this stuff is really not clear because ultimately downstream somebody has to pay for this stuff taxpayers and it's all obscurified i mean look i mean look at the tent story that we were sharing on our group thread 61 000 for san francisco to put people into tents with a no big contract one question i have for for you all um is if we look back

the last time we were at six percent unemployment july 2014 we look at the unemployment graph it's spiked up to as we discussed 15 percent and it has plummeted back down now to uh the six percent rate if we look back on this moment in time and how quickly the economy is recovering from this disaster that we've never experienced before it looks like this recession is gonna be recovered and we're gonna we're already back in business in such a short period of time compared to what happened in the great recession and the dot-com boom so is america and the u.s dollar and the economy anti-fragile now to use a teleport term

what do how do we look at what happened with the economy did trump do everything right with the stimulus this is a this is a complete outlier in the following way in a typical recession what what has to happen is so you have a contraction in the economy but you don't know when the bottom is right the bottom is some number of months in the future and government policy is basically trying to create a soft landing where all of a sudden the cost of capital is low enough now where people say uh on the margin now this incremental dollar i would rather borrow and invest which drives growth which then gets the economy going and so you know how does a government deal with that they are looking at economic data and saying okay you know what let me cut rates i'll cut rates again i'll cut rates again and that's really the one tool that they have in their toolbox because

they're trying to predict in the future how many rate cuts do i need to get or have rather how big do they need to be until i get to that place where you bottom out the pandemic was the exact opposite because in many ways we actually hit the bottom in month one because we said everything go to zero right now right when you shut everything down you technically can't have less economic activity than zero yeah and so and so in many ways you price the bottom on day one boom and in hindsight you know the the real insight would have been to to see that and say i'm buying this moment because it only gets better from here so in in one ways like all of the tools are are actually

now we need to think about them in opposite and i don't think we have that training to do that well so we're still going back to the same toolbox which is why what david said is so true you know we're thinking about incremental stimulus as a as like a way to get to a soft landing but we've already actually taken the hard medicine to europe so let's let's tackle that saks should we and let's let's take virtue signaling and populism out of this discussion just on an economic basis is it necessary to send every american another 600 thousand two thousand knowing what we know today with the unemployment rate going down would be redder would we be better off taking that capital

and deploying it in education right unemployment or something else well first of all it's 1.9 trillion that we don't have we're borrowing it i mean i would extend unemployment for people in those hard-hit sectors that haven't come back yet but most this money is going for blue state bailouts of cities that are totally mismanaged this is not going to help states like california or cities like san francisco get their house in order because this is going to bail them out and defer that day of reckoning from their chronic mismanagement so we're borrowing money we don't have to bail out people cities and states that don't really deserve it i do think we should help the people who've been impacted but um but it doesn't require two trillion and look here's the thing we're already down to six percent unemployment we're going to be down to i'd say probably three or four percent in two quarters i mean the economy is coming roaring back and the

reason is coming roaring back is because covet is ending right so the biggest announcement recently and i think this is playing into what's happening in the stock market as well is that biden announced that every american who's over the age of 16 who wants a vaccine will be able to get one by the end of may by the end of may i mean we're going to have yeah what what wait what happened to the fossils yeah right well he was six months off this just yeah when he came in office in january he's saying the worst is not overblown i mean that was clearly sandbagging the worst was over and we're gonna have 300 million doses by the end of may and the only reason why everybody won't be able to get one is because of states that are you know creating these ridiculous hoops to get through confiscating them yeah exactly like california right now is has three million doses sitting on a shelf because of all the crazy hoops that gavin newsom has everyone going through

because he wants to score uh browning points on equity right um so if the government would just get out of the way let everyone who wants to get a vaccine get one without worrying about making sure the exact right person in the exact right line gets one first this thing will be over by memorial day over now look there'll still be a case here or there for sure there'll be i'm not saying there'll be zero cases of cova but there will be zero pandemic understood as such by the way i'll also say one other um you know important point about the stimulus uh one that sacks made yesterday the cbo put out a a projection this is the the budget office uh i think congress and they said that the

u.s national debt is likely to reach 202 percent of gdp by 2051. so the amount of debt that the u.s government will own is 2x the amount of all the revenue generated by all of the industries in the u.s in about 30 years that's an insane statistic and the reason that people look at you know gdp or debt to gdp it's because you have to pay your debt down at some point you owe some interest on that debt you have to pay it down and every year you have to generate revenue to pay the bond holders and how do you how does the federal government generate revenue at either issues more debt or taxes and in order to meet a 202 percent level of debt relative to gdp you end up raising

taxes so significantly as a percent of gdp to cover the uh the the interest payments and the the principal payments every year that you end up stalling out the economy cutting important services etc and so we're in a circumstance now where the the benefit we're going to get from taking on this additional debt relative to economic growth and stimulus doesn't actually outweigh the cost of that debt and we're facing a fiscal crunch at some point in the next decade or two and there is this fl this big question mark outstanding right now on a global stage is the dollar really the safest place um to be does everyone really want to be dollar denominated if this is the circumstance that the u.s federal government is going to be facing uh here's a uh question for chamoth that i'm curious about if the government is buying all this debt

shouldn't they be buying some amount of equity as well so they can profit from the government's issuing debt jason no i know but isn't the government also going into the market and buying up corporate debt through all of those shouldn't they have profits coming from that so there was a risk last year where you know corporates may not have been able to fund their obligations and so the government basically said we're going to be the buyer of the last resort and step in and it's effectively what they did was they they essentially froze the credit markets because if you were going to then bet on some of these companies not being able to raise capital you would have gone to the worst part of the you know the stack or you would have bet actually that there was going to be the state transition so meaning debt is very tightly scripted as you know aaa plus you know double a a minus and these transitions from these tiers of like investment grade to junk to whatever are huge events and basically the government said nope uh everybody take your chips and go

home because we are going to backstop companies like ford or whoever folks that were teetering and so they they effectively said this is going to be you know until i tell you otherwise a rigged game i'm going to make sure i backstop these things these companies will always be able to have money so my question though chamoth is if the government is going to do that and take that risk shouldn't they get some warrants or some upside in the company's future success to then create a virtuous cycle here that if they did backstop it maybe they had warrants for five percent of the company like you would give if you were doing a debt instrument they could probably do it if they were a direct lender and they they had that chance and they didn't really do it in 2008 when they did it

i mean maybe they could have done it in a better way here when you enter the open market there's no such contract and so you can't negotiate that look i i i want to sort of talk about something slightly related to this which is if you actually looked at that 1.9 trillion dollar stimulus bill the thing that makes the most sense and i think nobody would complain about was saying let's give a means-based test where the poorest americans get the most money call it five or six thousand and the richest americans get nothing and i think nobody would disagree with that and if you added up all of that money it's probably on the order of 500 or 700 billion dollars if you did it if you did a really expansive package and and i think people would i mean all of us would raise our hands and say we shouldn't get a [ __ ] dime and i mean you know people other people should

be getting many multiples of 1400. why should anybody who wasn't impacted saks get anything like if you are not impacted yeah of course you can lose your job you are staying home you're not spending money why should you get anything because i think that's all the money going into nfts and making bets on gamestop and doing all this of course you know shenanigans with bitcoin of course look this is rahm emanuel 2.0 remember rahm emanuel back in the 2008 2009 financial crisis said never let a crisis go to waste this is now never let a crisis reach its end right they don't want it to be over because this crisis is a justification yeah this crisis is the justification for this piggy bank of spending that this this wish list that they wanted to pass

for a long time very little of it actually has to do with helping very little very little in fact if you actually look at the breakdown of this 1.9 trillion dollar bill it's every typical bill it has a better title but ultimately it's a bunch of pork barrels by the way there's a bunch of insanity in there like covet testing i mean guess what we don't need to test anyone for covet in about 30. you can throw those tests away we needed there's a couple of billion dollars we could say you know and the list goes on but i think the point is uh what sacs is making is totally true we're continuing to latch on to the covet pandemic crisis as a means to an end and we're not really solving any problems that are outstanding as the covit pandemic and the risks remember let's just go back a year if you guys remember the reason we shut down the economy was to flatten the curve there was no assumption we were going to end covet the idea was let's make sure that the health care system doesn't get overwhelmed with people

dying where we can't handle as many people in icu beds and now we're in a situation where we're saying you still can't go outside icu beds are largely open you still have to do x and y and z we still need to be testing everyone and all of those risks and considerations should be coming off the table as more people have had covet and more people have gotten vaccinated and instead we're using the fear that's been embedded in us over the past year as a mechanism to drive spending in a way that is clearly economically unsustainable ultimately counterproductive and unfortunately is being you know used as a mechanism for keeping folks in office and and paying back their friends and all this other sort of nonsense freeburg you had a you had a breakdown of uh it by the way because it's not just the the federal stimulus bill you know the

the california breakdown of what they spent saying do you have that do you have that can you fill it out what i'm going to do is i'm going to send the link because it was a through a foia request they were forced to list it so california had an emergency declaration joke a total [ __ ] joke through that emergency declaration it gave the governor the power and the ability to enter into no-bid contracts to meet the the demands of the quote-unquote emergency and the contracts that were entered into are all publicly listed and available in a link that i will share with you guys and it'll be available online i don't think a reporter has done what needs to be done which is to go through those contracts and identify how much money was spent on what and where that and why that money was spent and who ended up benefiting from it some of these contracts including for example 1.9 billion dollars to perkin elmer to provide nasal swabs and

other you know reactive chemistry needed to run covet tests with an overflow capacity of their lab of 4 000 tests a day which by the way costs a few thousand dollars um for 1.9 billion dollars and ultimately california didn't really do any of the testing it was done by private labs where did that 1.9 billion dollars go there was another amount of money there was a hundred million dollars spent on accenture to build the vaccination website no bid contract hundred million dollars for free three pages there was the carbon health guy did there was another um separately for his own vaccination program that he was running which you know obviously highlights just how inept this whole process is there was another um incredible multi-hundred million dollar contract entered into for a guy and then i looked up his address on google maps and i looked at his home in his office it's in like a strip mall next to a donut shop and this guy is the guy he's a he's technically

a doctor but not really a practicing doctor who would who got paid hundreds of millions of dollars to source overflow um hospital and doctor capacity for prisons in the in california insane the ship that's in there and so um you know the the the total kind of um i think mismanagement of capital and obviously inability to kind of manage through a crisis get taken advantage of yeah and by the way i think the covets the fiscal the federal covet stimulus looks very similar in terms of the the pork and other nonsense that's going on in there it makes yeah hey mainstream media instead of [ __ ] grinding me about you know a couple hundred million dollars of share sales so that i can allocate it to [ __ ] climate change why don't you do your goddamn job and [ __ ] tell this story yeah no because this would take a joke don't get virtual signaling points a joke i'll post the link now more i need more red pills what a joke get me those red pills from miami so there's one there's one article like you're right jamath like they they there's so many

scandals by the way there was one just reported in the censure chronicle about how the city of san francisco paid 16 million dollars to uh to pay for something like 260 tenths or something like that for homeless people it was the entire budget of burning man you just it was 61 000 per 10. you could build an adu for that guys i have an entire gaggle of reporters sweating every single [ __ ] share that i buy or sell and these people no no i don't this is so [ __ ] stupid and and and there's true there's trillions of dollars just swashing around like what it was third

world [ __ ] banana republic kinda go ahead san francisco is that's all of this money all this money all this money was dished out according to no bid uh contract so so basically there was not a competitive bidding process because it was a coveted emergency and so yeah look i mean all of uh newsome's big backers in the healthcare industry got these giant no-bid contracts these you know the homeless industrial complex service providers in san francisco got these giant contracts none of it was bid out and the politicians would love to be able to keep this going because they've never had more power they've never had more degrees of freedom to reward their political supporters so you know i think there was one really good article i just want to bring up

here uh that was by jonathan chape oh this is the uh intelligentsia in the uh new yorker yeah the new york new york times magazine yeah his article is called zero coveted risk is the wrong standard and he defines uh a term called zeroism what what chait writes is he he describes heroism as the following he says eurozone is an inability to conceive of public health measures in cost-benefit terms the pandemic becomes an enemy that must be destroyed at all costs and any compromise could lead to death and is therefore unacceptable so in other words if like one person might die then we need to continue all these emergency measures um it's and and and this is the thing is that look covid as a pandemic is going to be over by june okay but there will

always be cases of covet it's going to return as a seasonal illness and the question is are we going to allow zeroism to be the policy every year we basically give these politicians unlimited power to do lockdowns shutdowns no bid contracts and on and on and on you already see with the teachers unions right the education unions are refusing to go back to work even after their members are vaccinated yeah saying that there must be 14 days of no meaning zero communities spread before they can safely return so the teachers unions are the education users are saying is we're not going to go back to work we want paid vacation until there's zero cases can i just say

this is not realistic i mean i i um i went to get uh my daughter's passport updated at usps they're working while i was driving there i saw all kinds of infrastructure it was happening we pay into a system that's supposed to guarantee in return some level of commitment by individuals that buy into that same system teachers are part of that yeah you can't you can't have a get out of jail free card whenever you want to just say no we're going to change the rules and it but it applies to everybody else the firefighters have to show up the cops have to show up the ambulance people have to show up the nurses show up you know the usps covers bart everybody

doctors show everybody's going to work but these [ __ ] teachers the teachers should parents should take their kids out of school that's what they should do and then do what jason how how are most people basically well if you have a couple or six parents people work yeah no no but if you've got five or six parents together and they're gonna have time for that [ __ ] what are you talking about this year finish my sentence five or six parents get together and if they had if they had um what do you call it when you give parents a little bit of money for school uh systems the voucher system would then create the competition if six or seven families could get five 10k each and then run their own little bubble school their micro school this could actually put pressure

well it's not gonna it's not gonna happen but you actually have a pretty good point what what newsom should do is he should go to these unions and say listen if you're not gonna go back and you're not gonna teach no problem we're gonna take the money that we give to your schools and give them out as vouchers and let the parents do what they want in other words we're gonna break your union is that his biggest contributor the single biggest contributor is the education union right and so look he has publicly said that yes i'm in favor of schools reopening but it's not enough for you to espouse the opinion that schools should go back i mean you're the governor you need to go make that happen you need to go tell the teachers unions you must go back right now because there is no

incremental coveted risk to the teachers they've seen this now that states which have open schools have not seen it in christopher there is no science to support this he needs to tell him go back right now or we're going to break your union he will not do that because he's an employee of those unions and by the way i have an update i have an update on the on the recall if you guys want it no wait let's let's get to it in one second because i do want to i do want to just say um well first off i want to make an observation that we are um turning into the rational rush limbaugh we're all kind of yelling violent agreement but no it's infuriating it's kind of a little bit silly um but uh i am just observing the tone here a little bit um i will say like if you guys remember we talked about this like last year which is you know what will life be like post covid post the pandemic and if you guys remember i said this and i still firmly believe in

i think we're now seeing it play out which is that the fear that gets created by the actual crisis will persist in terms of the subconscious behavior of the population for a long period of time that's what happened after 9 11. you know the insanity that went on with the tsa and security checking and racism against brown people and everything that arose post 9 11 persisted for a very long time as a result of the shock that we all experienced and i don't think people were very cognizant of it occurring it was just like oh well this is now the normal way of life everyone is so fearful of catching covet and they've been so kind of trained and told that they're going to die from kovid that we're finding ourselves in a circumstance where anything can then be rationalized and those of folks that then have power and the ability can magnify

the circumstances into something that it seems kind of shocking and absurd if you put on kind of a rational hack but this is just one manifestation of what i think will be the case we were um we we all know people that have been vaccinated that are more than two weeks since their second shot of vaccination who are still scared of doing things like being around other people or going into grocery stores because quote unquote there may be a chance that there may be a variant that may not work on the vaccine that i may get that may end up killing me and if you actually do the math on it you think about it rationally you're not going to get coveted and you're not going to die but there's a chance therefore i'm going to change my behavior and that's part of what i think we're seeing manifest at a very large scale is this like trained fear mind that we all have at this point um and policy and everything and by the yeah by the way the 1.9 trillion dollar stimulus is in

part kind of empowered by this fear that we all i i i i disagree slightly so look is there going to be some ptsd from kovadiya i'm sure there will be but i think people are ready to to get out and um with a vengeance and i think people want to and the problem is not that people are are afraid but that the people doing the health establishment doing the messaging is not out there telling us the right things i mean you've got fouchy out there telling people that even after they're vaccinated they cannot take off their mass until 2022 that they're not gonna be able to die no seriously they're not gonna be able to dine indoors they can't go to a movie a concert or a sporting event and they can't socialize indoors except

with other also vaccinated people this is what fauci is saying i mean so no wonder you've got so many people out there saying that they're going to wait and see whether the vaccine works or not well because effectively vouching the health establishment they're being so cautious in their guidance or effectively giving anti-vaxx messaging they're basically saying that the vaccines don't work very well which is just stupid i mean i mean they all be going out saying nobody has died who has been gotten a shot nobody has gone to the icu who's gotten involved am i correct with those three statements yes yes they need to say if you no doubt no icu no ventilator if you have the shot what we need to be saying is very simple which is if you've been vaccinated you will not die if you've been vaccinated you will not die put that on a billboard and everyone's going to want to get vaccinated you know only 55 of the population

right now uh says that they're going to get vaccinated as soon as they can i'm ordering a billboard right now from the besties i think that just says if you're vaccinated you won't die the besties i think it's pretty reasonable that individuals would still be afraid you know because like i think we learned over the last year that we can't trust the institutions that are supposed to tell us in an objective way meaning you can't trust the who you can't trust nih you can't trust the cdc you can't necessarily trust the surgeon general you couldn't trust the president very complicated right so i think it's reasonable that people are skeptical what i think is unreasonable is when you know sort of like organized um unions or organizations

or corporations who have a responsibility to run the infrastructure of this country basically say um it all these rules apply to everybody else but me that's where i think uh we have to really just kind of question ourselves and fix that that's not cool it's just fundamentally not reasonable so we have biden saying that everyone who wants a vaccine will be able to get one by the end of may we have gavin newsom saying that most of the state but not all of it will reopen in august well wait a second you know may june july august why is there like a three-month gap here it's because of of of the zero-ism i mean i think newsome has embraced the zeroism if not zero what's the number

we have eight thousand people die a day in america uh on average historically as soon as everybody if it's under 500 that's a day should we be going back that's not even the question that's not even the question once everyone can get a vaccine it's over if you choose not to get the vaccine like sorry that's it's on you we're moving on it's like we're not going to ask it can i so by the way the equivalent of heroism would be no one's allowed to drive a car because people die die die in cars all cars have to be 35 miles an hour or they or you or yeah or no one's allowed to drink alcohol because alcohol has some adverse effect or increases chance of of cancer or whatever or whatever at some point like do you end up you just triggered chemotherapy yeah sorry no why nice bordeaux and burgundy doesn't give you cancer with the wine budget post apocalypse

i mean it's gonna take a lot of it's gonna take a lot of more billions before i stop drinking my wine um question um i want to throw this into the scrum um what do you guys think about uh i by the way i mean also we're all just so punchy because we didn't talk last week totally we're all so agitated we're excited we're none of those talk all of our wives have been telling us what to do we had nobody to vent with and now we're just going crazy it's like a bunch of 12 year old boys who are on timeout it's like it's like it's like we've been in a two week time we need to get our bikes and go for a bike ride no no guys honestly honestly like have you guys like i have not gotten a word in edgewise with matt for two weeks and i was so looking forward to talking to you guys i'm like all right i want to talk um no but listen uh no what are you guys what do you guys think about the uh the the biological patriot acting you know there's these vaccination passports that people

are talking about i just want to get a sense of where you guys think this is going and this is this is the slippery slope that i think ends all slippery slopes with respect to privacy right so i think it was proposed in the eu that you would need to get a you know a digitally verified kind of passport stamp that shows that you have been vaccinated in order to travel freely amongst other eu nations and so if you think about the implications of this now the government or governments have the ability to demand that in order for you to move around freely you need to represent something digitally or represent something about some health care procedure that you may or may not want to kind of uh you know take on so that sound everyone kind of nods their head and says that seems totally reasonable and rational it's kovid we're all at risk we should protect ourselves yadda yadda but where does this go next right because then

it becomes well have you had your measles vaccine or you know hey you know do you have herpes and therefore you can't you have to show someone your herpes passport if you want to have sex with them or you know end up kind of going to a point where we we really don't have a barrier between what's private and what's nationalized um or even super nationalized in in the context of the eu um and you know is there kind of a slippery slope that emerges by allowing this amount of invasiveness of personal decision making and personal data and making it available to government agencies in order to have access to the liberties that you you know believe may be endowed to you as an individual citizen of the world what do you do what do we tax well i i just think proposals like this are i think they're going to fade away very quickly

once covet is over and and the real issue we have right now is that not enough the population wants to get vaccinated because again the health authorities are being much too conservative in their guidance so you know there's some polling numbers on this that so only 15 of the public are actually opposed to getting the vaccine like you kind of call them anti-vax but there's another 20 to 30 percent that are taking this wait-and-see approach and you know they're gonna make sure that like other people go first and don't sprout tails or antlers or something before you know they're gonna be willing to get it but but the reason why they're all waiting and seeing is because you've got you know fauci and others saying that we're not going to have normalcy until christmas or maybe even 2022. so if if that's the case if things aren't going to be normal until next year

why wouldn't you wait you know and i think what we need to be saying is look go get the vaccine where everyone who wants it's gonna get it in the next few months and covet is over it's over guys but zach's if there is a digital passport requirement in the eu where do you think that goes like if you have to show proof of a vaccination in order to enter the eu without quarantine well yeah it's it's it's it's it's not a great precedent but i but i i don't know that it's going to be necessary because i just think that covet's going to end they're saying so quickly it's it's a this i like sax's point of view which is if you decide you're not going to do this then you've put yourself at risk but if nobody else can die from it why do we need to check it i understand like maybe in this bridge period spring to summer if you go to a warriors game or a knicks game where you want to go to burning man or the edc you know electronic daisy carnival whatever

uh free bird goes to you know uh when he goes to his raves i mean freeburg at a rave is kind of the video we need to see i think but why would that's fine with me but in the short term but in the long term i don't want to give them that power look what happened with the patriot act and then them monitoring our data forever and the government being able to put you know what snowden found out like they were able to put on the att backbone the ability to sniff all data i mean it's overreaching last january uh or february i think jason it was one of our first pods where i kind of put this marker out there on this biological patriarch and it said it it's coming i'm going to put another marker out there um by the way because like you know there may be

something like this in new york i think most cities will have to have them i think places jason exactly as you say for sporting events for concerts it'll be very hard um as a number of strains increase as the severity ebbs and flows over time for us to not end up in this place and i think it will be because certain people will feel a paternalistic um desire to sort of you know it'll come from a good place like i want to help everybody but they'll pass a law and that law will just get perturbed and and it'll create all kinds of crazy consequences but i want to put another [ __ ] out there which is you know there was a really important civil rights case called masterpiece cake shop versus colorado uh civil rights commission he went to the supreme court and it was basically a a guy who owned um a bakery

and he refused i think it was to make a cake for a same-sex couple um and ultimately you know the decision was yeah he's allowed the supreme court gave a very narrow ruling that he was allowed to withhold service and i asked this question which is well what is the difference frankly between withholding service from a same-sex couple or withholding service from somebody that isn't vaccinated because you know in the eyes of the business person you know us assuming apparently you're allowed to make these kinds of you know judgments uh because you're a private business the implications i think are really vast um and so i'm just gonna put it out there that i think that

uh it's actually david i'll take the other side so i think that there's going to be these biological patriot acts unfortunately and then the second thing that i'll say is that i do think that it will get litigated to the supreme court and i think that narrowly what will come down is that businesses will be able to decide and i think this is actually what will put the vaccination or anti-vaccination movement to the forefront because i think in this complex global world where we don't know where diseases come from except we know that they are more communicable they can be more deadly and they're more pervasive and they spread faster just because of the nature in which the world is set up there's going to there's probably going to be less and less tolerance

for anti-vaccination now that may slow down the actual process of getting vaccines to market because we'll want to make it even safer if we're going to do forced vaccinations of certain things but i'm just going to put a put a [ __ ] out there that i think that that's well i i don't know that we need to force people to get vaccinated but i think that we need to recognize that once people have the option of getting vaccinated there's no need to have the same public policy response right so so look if biden's correct that we're gonna have 300 million doses by end of may and i think he must be correct because he's been very conservative in his guidance then we should declare a date certain for the end of covet i'm not saying that the virus won't exist i'm not saying there won't be a smattering of cases i'm saying from a public policy perspective there's no longer a panic a raging pandemic to justify these incredible new

powers that the government has asserted i mean what would you do the number of shots in arms are the number of deaths per day no it's look once once everyone can get the vaccine and i think that okay so availability availability so i mean look what we should and it will be available as long as you know governors like newsome get out of the way and stop restricting the administration of it but i think we need to declare a date certain where we say listen on june 1st there is no more justification for government having these extraordinary powers to lock us down to require us i don't think we even need to wear masks beyond june 1st and by the way i was pro-mass i was in favor of a mass mandate a year ago as you guys know but there's no need for

it after june 1st there's no need to have these um crazy certainly not if you're vaccinations like i mean you doesn't matter i i it doesn't matter i just um you know i think it's uh it's a good point that sax is making it's easy for people to say let's wear a mask and protect ourselves but if you don't care about wearing a mask but there are plenty of people who do and i i think the question is at what point do we allow liberty to kind of play a role here and it's it's not just about you know what one person's point of view which by the way turned out to be wrong multiple times over the last year is in terms of what they think that other people should do and you know what what is what does it mean to actually have freedom of choice and liberty um i mean it's a really it's a really fundamental question yeah i mean if you look at states

that is a key we have texas has opened up and said no mass mandate one of the things that hurt us in this was we didn't have a centralized government dictating everything and now we see like hey maybe having some states by the way i i don't know if that's necessarily true i'll say something about this that i think is important it may be true that masks stop community spread of the virus but it doesn't necessarily mean that we stop the spread of the virus the virus still spread we still had a lot of viral cases in the united states we had a lot of deaths that arose and whatever restrictions we put in place people still made the choice to go into other people's homes take their mask off enjoy free air enjoy drinks and give each other the virus and that's where so much of the spread occurred i think you guys are not confronting this really obvious thing i think like this masterpiece

cake shop thing is a really important concept like what happens i'm just going to use an extreme example if it's just supreme court you mean no let's just say that you know google's engineers unionize and they decide that you know they want everybody else at google to be vaccinated and then google says yeah you're right if you want to work at google you need to be vaccinated not just for the company private company not just recovered it's a private company by the way that is a rule at schools right i mean i think my my uh my preschool or my kid goes here in san francisco requires that's proof of vaccination for the kids in order for them to traveling seems to be different and see traveling in some places is on the way just people just infrastructure some on private infrastructure i know but just just just focus on this issue what happens if private organizations pass a decision yeah that you have to be vaccinated it'll go to the supreme court and

if you look at masterpiece they don't win they will be they will they will come out with the right to say that which is fine you can go work somewhere else why is that why is that a problem exactly yeah i'm just curious i'm just curious how this plays out if if only half the population of america well maybe they'll lose good engineers and the free market will resolve itself or google will end up saying you know what we're not going to pass this mandate because all the good engineers are going to leave so let's just leave it you know leave it be um i'm i'm i'm more worried about the politicians trying to hold the government trying to hold on to the power that it's asserted over us over the past year even after covet zones that's my concept i don't watch the biggest database of my medical records no right and so this is why look i think we need to declare a date servant

certain that covet as a pandemic is over my date is memorial day it's very clear to me that once everyone has the vaccine it's over just but look i think this is this is when yeah this is what so i actually think that the newsome recall which will be in will be going on this summer uh this is what that election is going to turn into in my opinion is so so by the way quick can i give a quick update on yes please okay so i talked to the recall uh people this morning they're up to 1.95 million well oh signatures he's done so 50 000 votes short of 2 million they will be at or over 2 million in two weeks which is the end of the signature period their validation rate is about 84 so i think this is clearly going to pass there will be a

recall election it will be around august now fast forward newsome has said the state won't reopen until august but i think that by may june july you will see just about every other state reopen obviously texas already completely reopened but even blue states like connecticut have now lifted lockdowns they still have a mass mandate for the time being but i think what you could see by this summer is that california will look like a laggard you'll see that politicians like newsome are holding on to the zeroest philosophy they're being too restrictive they look ridiculous compared to other states and he still probably won't have an agreement with the teachers unions to go back to school and uh i think this could become the big issue in the in the reason why you're making announcements you want to make an announcement now

we have a special announcement might be taking a you know might be taking a hiatus from work given where the markets are at i thought i thought this governor thing would be value destructive it looks like actually i would have saved the money you should have my message okay i'm back [ __ ] it i'm doing it i'm doing it i'm doing it i'm doing it again i'm back here positions oh my god to be cynical but if you i am losing somebody down wow in your state sacks they can't collect signatures at the supermarket or at restaurants or disneyland so maybe maybe newsom shut everything down so that you couldn't collect eggs well it's interesting

because they actually found that direct mail was a very effective way of getting signatures so they've gotten around that but newsom is cutting the budget of the us postal service no look newsome is definitely there's going to be a recall election i think it'll be around august and now there's uh recall efforts underway for uh chase abu dean the killer d.a the killer d.a of san francisco as well as gus going to la and the san francisco school board but we've got to talk yeah we got to talk about how boudin responded to our last pod right oh my god lord david i i have three comments to say before we talk about booty number one i've never seen you more energetic did you get yeah where are you did you get miami did you download a fourth emotion did you download a fourth emotion palm beach he's been at the massage parlor every morning oh it's feeling energized you're right it's like a build up over the last

two weeks it's like a you know uh yeah big really too much too much energy i mean how how how little have you spoken in the last two weeks has jacqueline spoke in the entire two weeks i know what that feels like you're right i need i need the bestie therapy i didn't realize i needed this absolutely the best even therapy is the audience j cal friedrich you guys you don't know this but saxy and i called each other on friday and we spoke for half an hour and like it was a podcast he did he actually conference called all four of us i picked up but we spoke for half an hour it felt like a mini pod it was so wonderful oh my god oh my god but you know what men are too proud to uh men are too proud to go to therapy so they start playing i was telling a friend of mine i was telling i was telling a friend like this podcast was kind of one of the surprising joys

of my life over the last year it really felt like a great wait a second you got the joy oh i had enjoyed your joy we did it you downloaded yeah i acknowledge joy now okay he's there but it's smiling wow it's incredible okay saks go tell us about booty uh yeah let me find the the tweet so basically you remember on the last part two weeks ago we uh chase was supposed to be on our pod he cancelled and so then in response to that jason hold the chicken noises for a couple of minutes here hold on so uh i responded to chase as saying listen you don't have to come on our pod but i'll challenge you to debate let's do a debate whatever format you want and we posted it on on twitter so he didn't respond but by the way it got like 180 000 views so a lot of people

watched the challenge and so but the crazy thing is instead of responding directly chasa had a high school friend and campaign worker post a blog responding to me which and jason got mentioned too but it was crazy it was like why would you just respond directly anyway he had this this shill respond and what he basically said was in this response was he cited all these charging statistics and he tried to claim that chasa has charged just as many cases as the previous da the problem with that is charging doesn't really mean anything because you can charge someone and then plead the charges down from a felony to a misdemeanor it doesn't mean that the person was actually punished it doesn't mean that you locked anybody up it doesn't mean that you actually got a conviction to a serious crime or protected the public from anything the real question is not

chargings but dispositions of cases and that's the real that's the data that we need and i know there's a bunch of reporters who are trying to get that data and chase's office won't give it to him and so you know i would i would challenge this um this little uh chaser volunteer you know go find out you know what what is the real data on you know how many felony charges have been pleaded down to misdemeanors right how many felonies have actually been prosecuted how many felony convictions it's interesting to bring this secured it's interesting you bring this up if you do a search for gofundme chess of boudin the number one result should be the the um the gofundme page i started it now has 455 donors and 54 000 in funding and so i am withdrawing the

54 000 and i have a meeting with the woman from the marina times uh who's done great coverage of this and i'm also looking for some data scientists and i'm going to give the money minus some insurance for when chester sues me and some errors in emissions insurance and i'm going to be giving the fifty thousand dollars to a journalist or a data scientist or they can spend it however they want to to attack this very issue which is just put more sunlight on it and so chesaputin is uh not happy with me he's not happy with sax but we are going to put the spotlight on him and it will be through journalism and it will be through constant pressure and you can help if you want to donate a hundred dollars go just donate it to that i'm not taking any money obviously this is a really interesting civics experiment i think for the rest of the country and i i want to say that i

i don't know enough of these details i go up to san francisco every now and then i don't i've not liked what i'm scary it's scary um and it's great that you guys are standing up for your city the the thing is i wonder how much of these recall movements now will pick up steam not just here but wherever else they're allowable all around the country i mean you know the san francisco board of education spent all this time and money you know basically naval gazing on the renaming of schools and then finally just because they were just so utterly embarrassed basically had to bag that could you imagine that in the most technically advanced and most progressive city in the world basically with the kinds of companies and people that we have here that that's what people were thinking about during the middle of a pandemic when children were at home okay uh

you have this d.a who's going to get basically recalled in los angeles you have a da that's going to get recalled in california you have an entire you know governor of the state that's going to get recalled so what are we learning we're learning that people can actually small numbers of people can be extremely effective at getting change done and that they represent us and that the distance between what the public clearly wants and what some of these bought and paid for radically insane people both on the left and the right that needs to stop and if people are you know going to listen to their constituents we need to stop them people want people want centrism they want simple central 100 percent reason people want reason yeah the silliness is that the san francisco board of uh

education people are elected when have any of you or any of the people that i know in san francisco ever actually looked up who's the person on the board of education it's not really a topic that people have paid much attention to and i think that this experience when you don't pay attention from a civic perspective on who your elected officials are and taking action and electing them you wake up when a crisis like this occurs and you're like oh [ __ ] maybe i should pay attention the next time there's an election and maybe i should be more active and be more thoughtful or maybe we should end up in a situation where you allow the mayor or the board of supervisors to appoint the board and have an approval process where there's a little bit more kind of not just anyone that wants to get elected puts themselves on the ballot gets elected no one really pays attention to who's getting elected and then you wake up to this crisis isn't it true that like in the board of education there was this the whole thing came to a head

because they were trying to like staff a committee again to waste time on some yeah some guy some guy raised his hand and you know he happened to be this you know gay person uh in a mixed cultural marriage i think and he wanted to be a part of this committee and he had been kind of like a really good thoughtful participant and they said no because he wasn't diverse enough or something yes that's exactly that's exactly what happened there was a school board meeting it started at 4 p.m okay 4 p.m and this was the first issue they discussed is whether like you said this this gay white man was diverse enough to be on a committee it was a committee where he was volunteering his time he's good and everybody thought that he'd be additive i mean you know everybody liked him but they spent several hours debating whether they should put him on for diversity reasons because he was right he wasn't woke enough right exactly then they spent

their time talking about renaming schools and taking abraham lincoln's names off schools and even renaming schools they didn't even know why certain names were what they got the people wrong and then basically they didn't even get to the issue of school reopening until midnight so eight hours later and then everyone basically had gone to bed and the meeting ended i mean literally this is what happened and so the the parents it's like an snl skit it's like insane it's it's insane and so you know the parents are up in arms and this is triggering a recall movement because the parents just want the schools reopened and you keep getting these um responses from the school board where they keep saying oh we're listening to your concerns or whatever they keep trying to process them but they're not doing anything about it you know and then and then they say well in order for us to reopen we need to establish our testing infrastructure and we're putting an rfp out for that and blah blah blah and it's like what are you talking about private schools have reopened just

reopen you know just reopen what do you guys think about joe biden's first sort of 60 days in office executing at a high level with the vaccine i mean opening up all those fema sites and getting to two million shots a day on average is undeniably great the fact that he used the war powers act to force merck and to to do the uh johnson johnson uh and to work with johnson johnson to increase production undeniable um i'm not ha and i'm not happy about you know um the teachers and him cow towing to the teachers and i'm not happy about just the hint that he wants to start the war machine up again so you know yeah bombing syria who wants who here wants to

bomb syria it's like a right-of-way i don't want to i don't want to talk about anybody anymore where the [ __ ] is syria does anybody know i mean why why what what what are we doing i mean that's the thing these are the key issues for me the teachers and the bombings i don't want that i'd say i i give him an eight out of ten uh jason because i think the pandemic has been so well handled by him and science and that team i think they've done a very good job but those two things those two things are huge black marks for me like he and and bloomberg ripped him one you know and mike bloomberg was on tv and he was just like that is a joke the teachers unions are jokes and you need to basically tear these people to the ground you have to they and you cannot allow these folks to hold an entire generation of kids hostage okay and then the day i think it was the same

day or the day after unfortunately biden kind of capitulated to the teachers you're not cool and then this the bombing of syria was kind of like why um let's use sac sanctions let's use money i mean the the legacy of trump i think not starting wars was the one thing and then him you know just backing up the brings truck for the light speed those are the two best things he did and those are two things that we should say you know what he got those things right let's carry those forward we have to crack the teachers unions uh the teachers union the voucher system is the only way to do it and it's very reasonable to say parents who are paying [ __ ] tons of taxes should be able to take that money and educate their kids however they

damn please and if we're gonna spend fifteen twenty thousand dollars per student on public education as a parent whether you're in brooklyn or boise idaho you should have access that 15k you should take where it goes and you should take control of it that's the way to stop this machina jkl i had the i had the this crazy realization as you were saying this which is like if you said if i said to you you know electrician's union i would say thumbs up auto workers union thumbs up seiu generally thumbs up um nurses unions thumbs up but if i say teachers unions i just have this incredibly negative connotation now of an incredibly political class of people who are going

completely out of their way to basically just like have exceptions and asterisks that apply to them and them only it's i don't know am i the only one that feels that way it just seems like it's trending to where like teachers unions almost becoming a four-letter word yeah i don't think they care about teachers yeah they they they don't care about students these things unions but unions in general do a very important job all the students yeah but i think unions in general do a really important job and i think that you know like all these other unions i have a very positive thought about what they're meant to be you can be pro-union or pro-organized labor but be against this specific union just like you can be uh pro-reforming criminal justice and the unfairness

of it while still being against chesapeaden's insanity that people should be able to be murdered and killed and beaten in the streets with impunity like this is these this is not an even this is a completely logical position to have i want to not put people in jail for cannabis sales and i want to remove people from non-violent forward non-violent offenders from the the incarceration you can believe that while believing you should incarcerate somebody who murders somebody this is not a hard logic to understand right totally no you're right i mean the the the it's it's a combination of ideology and special interests um working against common sense and what the average citizen wants you know right and did you see what happened republican or it's not republican or democrat david you and i agree on this and yeah of course we just want common sense government that functions for uh the people as opposed to special interests or these radical

ideologies i want to have a couple of pops at the battery and go walk to another bar without having to fear that somebody's going to stab me for my goddamn iphone you know or or some poor kid's going to get attacked by somebody deranged out of their mind on fentanyl look this is why nuisance is going to get recalled is because crime and education are just fundamental issues we do not feel safe in our cities crime is out of control and we're going crazy that we can't send our kids to schools these are issues that affect cities and suburbs everyone's on the same page and i think you're right that the teachers unions have overplayed their hand and exposed themselves as not caring about the kids just looking out for their own benefits they want to be on paid vacation forever effectively and you see there was a great example where in oakley which is a town in

the east bay the whole uh they were caught on uh recorded on zoo the hot mic yeah the hot there's a hot mic where the entire school board was forced to resign because they got caught mocking parents for for quote wanting their babysitter's back so they could smoke pot i mean the cynicism here is unbelievable i mean these people are supposed to care about teaching young people and they and they view themselves as just babysitters yeah you know and they view parents as stoners yeah i mean we got to shake up this system and and the problem is competition we need competition and look the problem is that that the people that when you have unions running the schools there's no reward for excellence the bad the bad people don't get fired and the good

people don't get rewarded so they you know if you're pro if you're anti-competition you are a everything in this world gets better when people compete on the playing field in the arena to build better products and services and in healthcare and in education and in housing the government and dare i say at the far left is stopping people from competing we should look at ourselves as customers and that's what's happening right now people are saying we're the customer gavin newsom and chesaputin we don't want that product that products get the hell get the hell out of here with that product and give us something reasonable no person who's republican no person who's

democratic doesn't want safety and doesn't want competition education the only people who don't who want to stop competition education are special interests period amen man you've been sorry these red pills are built [ __ ] great man these are wow peter t god man i thought adorable was good but god these miami keith reboy peter teal stanford red pills got me lit i'm ready to go all right anybody give a [ __ ] about nfts non-fungible tokens i mean i think it's kind of brilliant but uh by the way don't we only have two minutes two minutes and after that i think you should wrap i think we should wrap up the red pills yeah i mean that you can't beat that that wasn't beat some red pills that was hot when are we gonna see each other i i can't take it anymore i'm like a caged animal i need to get out of here i need to get on one

of your planes i'm doing a free raise you're playing get me i'm doing a home and away poker game on wednesday and thursday wednesday in l.a thursday up here but it's 500 and a thousand jason oh and you got to play both days you got to play both days so you can't play one or the other you got to play both days oh boy chamath is trying to make his billions back i don't know if i want to be in a 501 1k game no i mean like in fact in fact i just you know you can't limp in which races they just you're gonna get demolished you have four callers that yeah yeah rick solomon will jump the fence with the seven eight and busted malibu tell them i'll take a match with that all right everybody for the queen of quinoa for rain man david sacks and four the demolished dictator will rebuild i believe in you you can rebuild it you can rebuild that chip and a chair come on let's get back in the game chip in a chair give us another ipo g-h whatever let's go everybody and we'll see you next time love

you guys thanks to our sponsors bye guys that don't exist ditto i love you besties and it says we open source it to the fans and they've just gone crazy with it besties we should all just get a room and just have one big huge orgy because they're all just useless it's like this like sexual tension that they just need to release we need to get mercies