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E18: Inauguration talk, breaking down the $1.9T stimulus, the case for recalling Gavin Newsom & more

January 23, 2021 / 01:23:29

This episode covers the aftermath of Biden's inauguration, reactions to his speech, and the political landscape following Trump's presidency. Guests include Jason Calacanis, David Friedberg, and David Sacks.

Jason Calacanis expresses relief at Trump's departure and shares emotional moments related to Biden's inauguration. He discusses the significance of Biden's executive orders and their impact on his personal life.

David Friedberg reflects on the tone of Biden's speech, emphasizing the need for unity while acknowledging the ongoing tensions in the country. He highlights the challenges facing Biden from both sides of the political spectrum.

David Sacks critiques the political climate, discussing the implications of Trump's potential impeachment and the rise of a possible fringe party. He raises concerns about the consequences of increased surveillance and the need for reconciliation.

The conversation also touches on social media censorship, the future of TikTok under the Biden administration, and the economic implications of Biden's stimulus plans.

TL;DR

The episode discusses reactions to Biden's inauguration, Trump's political legacy, and social media censorship issues.

Video

00:00:00
hey everybody it's me jason  calacanis welcome welcome   hey everybody it's me jason thank god  trump's out i hate trump and i love myself
00:00:22
and they've just gone crazy everybody happy  days over here again champagne cottage bottles  
00:00:36
popping both again happy days are here again  yay sax is so happy trump's out of office he  
00:00:46
gave an amazing speech about how great biden's  inauguration was welcome to the all-in podcast  
00:00:57
oh my gosh with me today in our post inauguration  after glow is the dictator the queen of quinoa  
00:01:07
david friedenberg and riding the blue wave diving  in no more red pills the blue wave is david  
00:01:18
rain man sax is with us david how did it feel to  watch biden's inauguration speech which you said  
00:01:27
hit all the notes and i see you wearing blue today  let me have a sip of my woof click oh and tell us  
00:01:33
you've got the blue jacket the blue shirt and  the blue headset on you've ridden the blue wave  
00:01:39
tell us how you feel with biden in office i'm  going to drink my viv jason i'm just happy to  
00:01:44
see that uh that you're happy ah and uh it's  it's does this mean does this mean that i that  
00:01:51
uh your trump derangement is over you're uh you've  gone uh cold turkey you're on the wagon and uh  
00:02:01
yeah i'm just happy i'm just happy to have my  friend back and uh not have you part of this   uh this trump derangement zombie horde that uh  that you've been in for the last few years i  
00:02:11
uh i'll tell you two quick stories um the first  one turned out not to be true but there was a new  
00:02:18
york times alert that came out this weekend saying  that um they were gonna lift the travel plan  
00:02:25
and um for uh for a moment i was like i i  was a i was a little in shock and you know  
00:02:32
my my i'm canadian my family's in canada  i haven't seen them in a year my mom is 80   years old i haven't seen her in a year um and  then the second was on the day the inauguration
00:02:45
biden signed an eo um i guess that  that you know starts to get basically  
00:02:50
um create a path to citizenship  and there are um you know two women  
00:02:58
in my life who i i think are just lovely lovely  people who i've never been able to hire and uh  
00:03:06
and now this gives us a path to  hire them and compensate them and   the way that we wanted to and so in in these  moments i started crying and uh i i've probably  
00:03:16
had three or four moments and i realized like holy  [ __ ] i have had so much pent-up emotion waiting  
00:03:22
for honestly just like a normal average day um and  like simple humane good things and i'm not i'm not  
00:03:31
trying to sort of jump on the biden bandwagon  i think that he's got a lot of work to do  
00:03:37
but but i i do think that just at a level simple  basic level of humanity it was a different it   was a big sea change how did you take it  freeburg i'm curious did you cry as well  
00:03:47
i observed the inauguration it was interesting  i didn't upgrade your firmware sorry we were  
00:03:53
supposed to push the two david firmwares for  the ability to cry but did you feel any emotion  
00:03:59
of the three emotions we've given you  in your programming did any of them move   at all i don't remember i mean i don't  remember the origin of my non-emotional  
00:04:08
um uh characterization uh jason but um yeah  i think it's just based on every interaction  
00:04:15
we've ever had with you but continue right i guess  that makes sense so um i feel like the biden um  
00:04:23
the biden moment uh on on inauguration day um it  really did feel like a sigh of relief because so  
00:04:32
much of trump love him or hate him has been driven  by a degree of tension right i mean he came in  
00:04:38
uh to office on the premise that he was going  to drain the swamp i mean that's kind of a   very kind of active um you know position he's  going to go in he's going to change things and  
00:04:49
and i think you know the biden tone  is like let's take it down a notch   let's all take a deep breath and i feel like that  that generated a collective side relief i'll also  
00:04:58
say that i watch that with the eyes of someone  who voted for trump um i didn't vote for trump uh  
00:05:06
but um i don't think i voted this year uh i  can't remember it was in the middle of pandemic   but um i basically feel like there's a lot of  folks it's easy to say let's unite the country  
00:05:18
um when you're on the winning side and when  you're not and you're sitting there and your guy  
00:05:26
got kicked out of office and your guy claimed that  he got kicked out because of fraudulent activity  
00:05:31
and you're one of the 46 percent of americans that  are already disapproving of biden's performance  
00:05:38
in his first two days of office uh you don't  look at that as a moment of relief you don't  
00:05:43
look at that as a moment of um of respite and  i feel like there's a little bit of a missed  
00:05:49
point of view in terms of how we're all covering  it and talking about it it certainly feels good   to take the tension down and take take  a deep breath and have leadership not be  
00:05:56
putting the tension out there but there's  a lot of anger and disappointment still   festering out there and i think we need to  be very cognizant of why and what we can do  
00:06:04
and it would have been nice to see biden not just  say let's unite but actually step over the line   and declare some of the policies and points of  view of the other side as being valid and and  
00:06:13
engaging more directly on those points versus  saying we'll all work together in the future  
00:06:18
and we're already seeing and we're already  seeing this rift with mcconnell and others   in terms of how to deal with the filibuster in a  unified senate um and i i just don't think that  
00:06:26
we're there so um yeah yeah sax what are you what  are your thoughts and then we'll go to youtube   yeah i mean look i'm not gonna swoon over an  octogenarian reading cliches off a teleprompter  
00:06:36
i'm sorry i just can't do it now that that  being said uh you know the the the inauguration   speech struck all the right notes of you know  reconciliation lowering the temperature coming  
00:06:46
together these are the things you're supposed to  say at an inauguration these are the presidential   layups if you will it's kind of a weird thing  that trump could never quite get these layups  
00:06:55
in uh biden did what he was supposed to do and  um and i agree that there is a sense of relief  
00:07:01
in the temperature being lowered and uh and  this and the the situation washington feeling  
00:07:08
a bit depressurized and so i think he deserves  credit for that that's all for the good i think  
00:07:13
the problem biden's going to have is not just  sort of um the trump right opposing him but the  
00:07:20
uncivil warriors in his own party you  know uncivil warriors i think was the most   memorable line in his speech there are people  i think you know on the left who aren't really  
00:07:30
on board with the reconciliation agenda i mean  shortly after the election you had aoc proposing  
00:07:35
a truth and reconciliation commission right  uh to go after everyone from the the trump   era i don't think that's exactly the kind of  reconciliation binds talking about you have i  
00:07:45
think the repressive hand of big tech playing into  this revenge agenda by acting as a speech cartel  
00:07:51
and now we have the rest of the tech stack jumping  on board with the the speech cartel you had  
00:07:56
an announcement from a whole bunch of finance  companies paypal stripe square that said they  
00:08:02
would uh cancel the accounts and by implication  livelihoods of anyone connected to january 6. well  
00:08:09
what exactly does that mean i mean there were many  thousands of people at this rally on the mall only  
00:08:16
a few percent of them breached the capital an  even smaller percentage engaged in violence but   everybody who was at the mall and really everyone  in the maga movement is quote unquote connected to  
00:08:26
to that protest so how many degrees of kevin bacon  are we going to play in acting out these reprisals  
00:08:34
and i think the worst part of all is that now we  have in congress a bill put forward by adam schiff  
00:08:41
that basically would create a domestic patriot act  to uh to create giant new surveillance powers for  
00:08:48
the state to go after people they they deem to be  traitors and seditionists and domestic terrorists  
00:08:55
and you know i actually tweeted a letter by  rashida toleb of the squad opposing this it's  
00:09:00
the first time i've stood with the squad i was  proud to because the last thing the state needs   right now is is more surveillance powers and  this idea that we're fighting a war against  
00:09:12
fellow americans based on basically political  dissent that's not going to create reconciliation  
00:09:17
that's going to lead to the next step in this  um horrible tit-for-tat game just to build on  
00:09:23
this for a second um there was a rasmussen  poll that came out today today is friday   january 22nd so two days after the inauguration  and biden's disapproval rating is 45  
00:09:34
and you know all of a sudden  you can think again as you said  
00:09:39
three days ago you know a lot of people were on  the losing side and are now on the winning side  
00:09:45
and today um a lot of people that were on  the winning side are quote unquote on the  
00:09:50
losing side and you see how reflexive  the reaction is it's like an auto hate  
00:09:55
right it's like auto disapproval and so if  that's the case it just it just begs the question
00:10:03
how much room and how much tolerance will we have  as a society if we start to go after folks that is  
00:10:10
you know that effectively have an  enormous amount of political dissent   are there fringes of both parties that need to  get basically found out exposed and put in jail  
00:10:21
whether they're antifa on the left or you know  the far right extremists on the right absolutely  
00:10:27
but hopefully the fbi already has enough power to  do that and that's already their remit and what  
00:10:32
we're not gonna have to do is pass an enormous  number of laws i mean i've said this before like   the patriot act was so crazy because it was a  foreign actor and a foreign event on domestic  
00:10:41
soil that created it but you know between the  pandemic and now it happened in the capital   a biological patriot act a domestic patriot  act these are all in the offing and i think  
00:10:52
what we're going to have to do is again it  sounds cheesy but find the common ground so  
00:10:57
that we can expose who are at the fringes of  both parties who are the real crazy people   round those folks up and deal with  them with the laws that we have today  
00:11:06
because otherwise the unintended consequences for  the overwhelming majority of the americans who are  
00:11:11
just normal folks is going to be a little scary i  thought a really interesting reconciliation moment  
00:11:19
happened with the woman who stole nancy  pelosi's laptop i don't know if you guys were  
00:11:24
have read that story but this woman who stole  the laptop and was considering selling it to  
00:11:30
the russians or something she's 22 years old  she's obviously was misguided in doing this  
00:11:37
and the judge basically explained to her  that she was releasing her to her mother's  
00:11:42
you know care and that her mother would go to jail  if you know she did anything further um but she  
00:11:48
said listen you know you're a beneficiary of the  constitution you are getting a speedy trial you  
00:11:54
are getting representation and she used it almost  as a civics lesson and i think we had a discussion  
00:12:00
maybe two episodes when the pod got a little  hot um which was great for ratings by the way
00:12:07
and for our relationships and it resulted  in a reconciliation dinner that we had   a little a little uh wives dinner our  wives brought us together for dinner to  
00:12:16
just make sure everything was on the well  chamoth brought us together for dinner
00:12:23
uh um i mean it was it was a good thing because   frankly jason i was starting to  hate you just just a little bit  
00:12:30
uh but but i could feel the hate you know and uh  chamoth uh being uh empathetic as he is recognized  
00:12:37
the situation and uh so we've decided to do  you know at least a quarterly besties dinner  
00:12:42
to make sure that uh yeah that the contentiousness  does not get out of hand and interfere with our  
00:12:47
friendships which are more important than our  politics ultimately that's what we all hope  
00:12:54
is comes out of this podcast which is a deeper  understanding of reconciliation of of issues that  
00:13:00
we disagree on and breaking bread having a meal  or having a civil conversation even if it gets  
00:13:06
a little heated keeping it civil is important i  thought that this is the way to handle it a lot  
00:13:11
of these we're going to be able to use some amount  of judgment on the people who storm the capital   and say okay this person's misguided they took  a selfie this person broke windows and then this  
00:13:22
person you know through a fire extinguisher a cop  and we have to make sure that the justice system  
00:13:27
is deployed in in a fair way and more surveillance  and and more investigations i don't think that's  
00:13:34
the solution i think more surveillance more  investigations absolutely because i think the fbi  
00:13:40
has the power today to do that and i think they  should they like i said they should find every  
00:13:45
single person involved find the appropriate crime  make sure that they're punished but the idea of  
00:13:51
passing broad sweeping surveillance powers over  every american citizen is [ __ ] nuts bonkers and  
00:13:57
by the way all that's all that's going to do is  create these honey pots for foreign governments to   want to attack anyways because if that capability  exists it exists in code on servers somewhere and  
00:14:08
folks in china and other places will want to find  out where that is and they will be attacking it   all day long and so the last thing we need  is we're already leaking enough information  
00:14:18
uh about ourselves online willingly and  unwittingly um i don't want there to be a  
00:14:23
honeypot that's the first thing the second thing  i just want to say is i thought it was incredible   um what mitch mcconnell did just back to your  comment jason about making sure folks get the  
00:14:33
right adjudication i think mitch mcconnell set  the stage to have donald trump impeached and   the reason i think that is this was the first  time he was completely unequivocal which is  
00:14:44
that donald trump provoked all these folks and  i think what it allows the republican party to  
00:14:49
do is to get together under closed doors you  know behind closed doors circle the wagons and  
00:14:54
say it's either him or us we choose right now and  i think what's going to happen if i had to guess  
00:14:59
is that that allows a lot of people to break ranks  and support the impeachment in the senate that's  
00:15:05
going to start on monday and i think there's  a real chance now that that this impeachment   goes through and he gets convicted i think it's  worth just thinking about the implications of that  
00:15:14
um if you did that there are there are trump  loyalists there aren't really gop loyalists  
00:15:20
um and uh i guess there are gop loyalists but  there are a lot of trump loyalists that are   not loyal to the gop at this point and sax you  know correct me if i'm wrong but if trump does  
00:15:30
actually create a fringe party does create a a  patriot party as he suggested he might um you  
00:15:37
could see up to 20 million americans joining that  party and you know that would reduce the ranks of  
00:15:42
the republican party significantly and then kind  of my understanding is in political theory what   would result is you always have a balance in the  parties and so the parties kind of adjust left or  
00:15:53
right to create that balance ultimately it's  just kind of the organic way this this works   in order for the republican party to gain um it  you would probably see a lot of membership move  
00:16:04
over the republican party which means that the  democratic party is going to move further left and  
00:16:09
um you know think about the implications of that  if trump does actually if they do actually kick   trump out of the party and he does set up a french  party you will likely see the democrats move  
00:16:20
further left creating a much more um kind of  conflicting story for some of the centrists  
00:16:25
than what they're telling today of what's going to  happen in the future and that's a very different   america in the next two to three years that could  be created if they took that risk and i think  
00:16:33
they have to associate that calculus when they're  making this decision you know you can talk about  
00:16:39
justice and wanting to kick him out of the party  but the implications of him leaving the party are   rather profound oh it would fracture the  republican party it would be i guess the best  
00:16:50
historical analog would be when teddy roosevelt  left the the party uh to form the bull moose  
00:16:56
party he actually fractured the republican party  and that allowed um i think woodrow wilson to win   the presidency uh beating taft um yeah i mean the  republicans would basically lose every election um  
00:17:07
from now until trump is no longer you know a force  in american politics if he created i guess the  
00:17:12
or they'd have to they'd have to move left  right i mean in order for them to gain   you know more people they'd have to get the  centrist democrats they'd have to move left and  
00:17:19
that'll give the democrats the ability to move  left yeah i mean it it's it's a it would be a   dream scenario for for the democrat party um i'm  surprised i'd be surprised at the end of the day  
00:17:29
if if if enough republicans went along with  this to to fracture the party but um look i  
00:17:37
i understand that on some basis you know trump  trump caused what what happened at the capitol  
00:17:43
he convened everybody he rabble roused but i think  that um frankly if you have a trial i think the  
00:17:50
question we have to ask is like what agendas does  this serve does this serve a reconciliation agenda  
00:17:56
or does this serve a revenge agenda i mean  the guy's already out of office i thought we   cancelled the trump reality show and this is like  bringing it back for another season because this  
00:18:05
trial is going to be a [ __ ] show just like all  things trump you have a trial in the senate and   it's going to turn into a total farce okay and you  know look i think cosmically trump was reckless he  
00:18:17
was responsible but when you actually look at the  legal definition of incitement it's actually very  
00:18:23
hard to prove incitement so now trump's going to  get his lawyers up there and they're going to be   pushing back on this and it's going to consume the  country for months and i just think we should be  
00:18:33
moving forward right now the government's already  going to be first three days and done all right   why would it take months i'm curious you're  just saying you overhang from it they're going  
00:18:41
to start at mid-february right it's not going to  be three days this goes on until the trial's over  
00:18:47
i mean it's it'll be at least a week of of uh  discussion right sex so saks is it do you think  
00:18:56
the gop preventing trump from being able to run  again is worth the year the week of animosity  
00:19:02
let's call it i i don't i think we should just  move on as a country um and i you know at the end  
00:19:08
of the day i think that's what's good for biden's  agenda i mean this will become very consuming   what's good for the gop though if you're if as a  person who would align themselves with republicans  
00:19:18
mainly i would say what do you think is best for  your party the party you're part of just moving  
00:19:24
on just moving forward what if trump comes back  and gets the nomination in 2024 i mean i think  
00:19:30
that is definitely a risk you you take um but  i think that that risk um i you know i'll leave  
00:19:36
it to the voters to decide what what makes sense  um interesting i i think that the only salvation  
00:19:43
for the republicans is to repudiate trump and  and i actually agree with um with uh friedberg  
00:19:50
i think that this creates the opportunity for this  i think trump wants to call it the patriot party  
00:19:55
to be sort of center right i think democrats  probably ebb over time you know center left  
00:20:01
and then the republicans actually are this  interesting power broker because they can   actually tack to the middle and be centrist you  know about a social safety net combined with  
00:20:11
you know small government if you could somehow  tiptoe and and and balance on that line i think  
00:20:17
that is the winning strategy that people want but  i think that's that's my point is the republican   party is going to have to move left in order  to create balance between the two parties again  
00:20:27
because they're going to lose 20 million voters  to the patriot party and that's the profound shift  
00:20:32
that's going to happen and when the republican  party moves left the democrats are going to   move further left and so maybe i don't think that  moving that far left is a really winning strategy  
00:20:42
for no but i think i think friedrich is right so  as an example i i think i can say this but like i   i had a call this week with um the mayor of miami  francis suarez what an unbelievably impressive guy  
00:20:55
holy [ __ ] [ __ ] this guy is amazing um what  he's done in miami is incredible um i mean the  
00:21:04
gdp growth is like chinese gdp growth ten percent  eight percent six and a half percent he's running  
00:21:10
fiscal surpluses you know crime is down down  down he's done an incredible job this guy is  
00:21:15
a fundamental centrist you know and when you talk  about what his beliefs are i was like what is this  
00:21:20
guy is he a democrat is he republican i was like  he's like honestly i'm a centrist you know and and  
00:21:25
so my point is if whoever tacks to the middle  we'll find the ability to attract incredible  
00:21:33
leaders that i think are are our next generation  set of leadership so in that way trump as a change  
00:21:41
agent uh sax was a success in that he broke  the system and this was peter thiel's kind of  
00:21:47
concept when he put him in and i know you  don't speak for peter but peter's idea   was hey this person's a change agent he's gonna  be this you know drain the swamp person maybe that  
00:21:57
didn't happen but he has basically made everybody  reconsider what party they want to be part of and  
00:22:03
what they actually want on the political agenda  and now we're so we've never been more focused on  
00:22:08
politics and how our country runs in our lifetime  have we well trump you're right that trump was a  
00:22:14
classic disrupter you know keith rabboy has  this line about founders that uh disruption  
00:22:21
is created by disruptive people and trump was you  know one of those very disruptive people i mean  
00:22:27
it just to take two examples i mean he created  a total realignment on our views around china   i think it's now a bipartisan consensus that  you know we should not keep feeding china  
00:22:38
uh and making you know keep feeding that  the chinese tiger and turning into a dragon   um everyone seems to think now that that some  reappraisal is warranted and the other the other  
00:22:47
big issue was the forever wars of the middle east  you know i think trump first created a realignment  
00:22:53
within the republican party when he said no more  bushes he met no more of these stupid foreign wars  
00:22:59
and i think that was an important realignment  um so yeah i mean he's been a very disruptive   figure i think that um everyone's breathing a sigh  of relief because we've moved on i think that he  
00:23:08
unnecessarily was incendiary and  sort of pressurized the situation  
00:23:14
but i think the best thing at this point is to  move forward and not keep rehashing the trump era  
00:23:20
speaking of rehashing um i don't know  if you guys know about what is happening  
00:23:26
with facebook but they have an oversight  board they created last year in the spring  
00:23:32
and the oversight board is not to do  the day-to-day policing of facebook  
00:23:38
and instagram and whatsapp activity but it is  to be a place where people who have been have  
00:23:43
had content removed or have had their account  suspended to appeal they have taken the trump  
00:23:51
case as it were and given it to their  supreme court which is the oversight board  
00:23:56
and the oversight board is uh going to make a  judgment based on should trump get his social  
00:24:02
media accounts back they have complete autonomy  from facebook they are funded by facebook with 120  
00:24:09
or 130 million over the next six years so they're  getting like 20 million dollars a year to run this   they've got a really amazing bench of  intellectuals public intellectuals and  
00:24:19
and they're sort of above facebook  in this regard what do we think   uh should happen to trump's social media  accounts should he have a path to reclaiming them  
00:24:30
and would this uh board that exists as this of  budsman as i talked about in the last episode  
00:24:35
what do we think of this process  and do we think maybe twitter   and youtube should join this oversight board let's  separate these two things and actually jason you  
00:24:44
just framed it perfectly let's separate the two  issues one is is any of us comfortable with a  
00:24:49
random set of people that some people will like  and other people not like making these decisions   on our behalf that are not necessarily trained  to make these decisions i mean these aren't  
00:24:58
elected trained judges or lawyers that sit for a  bar exam these are just you know private citizens  
00:25:04
ultimately at the end of the day um i think that  if you allow this to happen at scale there's  
00:25:10
going to be a bunch of decisions that you'll be  okay with and support i think a lot of people   probably are cheering when trump got blocked but  if you can abstract it away and think about all  
00:25:19
the people that you actually care about what if  the administration was on the other side and now   all of a sudden you know these people to curry  favor with the administration went in a different  
00:25:27
direction and people that you cared about got  blocked it is an untenable situation and i think   this is the slippery slope that the framers never  intended i don't think it should be people like  
00:25:37
this making any decision like this and in many  ways it's a it's a fig leaf for these companies  
00:25:43
to pretend they're doing the right thing while  they're really shirking the real responsibility   friedberg you agree it's hard to say on the  specifics so i think we should just take a  
00:25:53
broader point of view on this which is how  do tech companies um create independence in  
00:25:59
the platforms that they're building so that  they don't get scrutinized as monopolists   and so there are several examples of this being  done both successfully and not successfully  
00:26:08
across the tech ecosystem google made  android open source and by making the  
00:26:15
android operating system open source they were  able to have their own forked versions that   they were able to install on phones with  partners like htc and samsung and others  
00:26:24
that they could then have their search engine be  the primary search engine so the entire android   operating system is available for anyone to work  on for anyone to fork for anyone to use and then  
00:26:34
google's iteration of that open source platform  and google's contributions which they were making   regularly allowed them to kind of have a  great commercial outcome without being the  
00:26:44
owner of the operating system having learned  from the mistakes of microsoft in the past   facebook tried to take a similar approach with  libra and it was a total [ __ ] show and a  
00:26:52
disaster and i don't know where it is today but  they tried to create this also independent board  
00:26:57
um to provide oversight uh and to you know to kind  of do the you know all the open source work on the  
00:27:04
libra currency and facebook was going to then use  that on their platform as their kind of you know  
00:27:10
token uh cryptocurrency solution um and obviously  there was so much scrutiny because no one believed  
00:27:17
the independence and i think we're hearing the  same thing now about the facebook oversight board   jack dorsey is now taking the same approach  with blue sky which is meant to be this um  
00:27:25
open sourced um you know independently managed um  social media protocol system and so twitter would  
00:27:35
effectively become an application layer on top of  this open sourced approach to how do you decide  
00:27:41
what goes on social media how do you decide  what's inappropriate and appropriate and what   technology protocols are available for everyone  to use and what business and and um arbitration  
00:27:50
protocols are available for everyone to use in  an open source way and we'll see where jack goes   with blue sky he seems to be doing a better  job messaging and organizing teams of people  
00:28:00
to work on this and i don't see the pushback that  facebook is getting with their oversight board so  
00:28:05
unfortunately a lot of these the big tech  platforms in order to avoid the monopolistic  
00:28:10
allegations and the allegations of control and  influence uh they're creating independence uh  
00:28:16
independent systems and that's hit or miss and i  don't think we yet know i think in the next year   or two we'll see how blue sky libra the facebook  oversight board and some of these other platforms  
00:28:25
what would you do david platforming what would you  do let me just put it to you if you were in charge   you were the ceo of facebook or twitter would  you have a path to reinstating trump yes or no  
00:28:37
yeah let me just get freebergs would you yes or  no reinstate trump oh yeah 100 we should have a  
00:28:42
path to it i i think be like i've said in the  past having some objective i think that number   one i don't think it was inappropriate for them to  kick him off the platform from a legal perspective  
00:28:50
i don't sacks and i might disagree but we can  probably argue for an hour but i think from a   freedom of speech point of view they're private  companies with private accounts and they did what  
00:28:57
they wanted to do was it the right thing to do  um i don't think that was the right thing so yeah   give him a path to getting his account back free  and so i think you need to create an objective  
00:29:05
system and you need to give everyone whether  it's trump or whoever else everyone has to have   the same set of standards that they're held  to and then a universal approach that anyone  
00:29:14
can appeal and okay but that's the approach but  knowing what trump did on january 6 would you let  
00:29:19
him back on your platform if you were ceo is the  question i'm trying to get out of your freebird   but okay david you go yeah i mean so so here's the  fundamental problem is that the town square is now  
00:29:30
owned by facebook and twitter the town square  got privatized and our speech rights are now in  
00:29:36
the hands of mark zuckerberg and jack dorsey  as a practical matter i mean you do not have   speech rights in the modern world if you get  d platform by big tech and until now there's  
00:29:45
been no way to appeal their decisions we have  had no transparency into their decisions so i   think facebook creating this appeals board is a  step in the right direction but you know they're  
00:29:55
calling it their supreme court but i'll tell you  my supreme court is the supreme court you know   at the end of the day we all know that the most  important part of a trial is jury selection and  
00:30:04
zuckerberg is still picking these 20 people and  you know actually just in case in point he picked  
00:30:10
the top he picked the four and the four pick the  next 16 and then they don't have an ongoing um  
00:30:17
ability to pick the next ones and they have some  amount of terms so just to give you that okay   well fair enough and like i said look i don't  want to criticize this move on its own because  
00:30:26
it is a step in the right direction we need an  appeals process when people get cancelled okay  
00:30:32
um that part is good but but what i would like to  see like i said my supreme court is the supreme   court and they've spoken to this issue and i would  like to see these social networking monopolies  
00:30:41
apply a first amendment standard a speech policy  broadly consistent with the first amendment  
00:30:46
and sometimes that will mean allowing speech  we don't like but it will result in a greater  
00:30:52
level of speech protection for all of us well  it wouldn't just reach back on the platform no   but hold on a sec if you're gonna go by that  standard the problem is with this oversight  
00:31:00
board concept is that it completely violates  exactly what the supreme court is meant to be   which is a country-by-country set of governance  and standards and laws like i'm just looking at  
00:31:10
the oversight board people right now these people  look incredibly well credentialed emmy palmer of  
00:31:16
israel catalina botero moreno of colombia nigat  dad from pakistan helle thorning schmidt from  
00:31:22
denmark catherine chen from taiwan jamal green  from the united states alan rusbridger from uk  
00:31:28
andreas sagio from hungary and it goes on  and on how are we supposed to adjudicate  
00:31:35
a set of standards at a national level like when  when we have the are all these people from all  
00:31:41
these different countries supposed to opine on  u.s constitutional right of free speech and have   it the idea would be they would use some global  standards but then also take into consideration  
00:31:49
local standards that's what they their stated  purpose is and why they're so diverse the setup   for that though jason is that then you know when  when there's a you know the hindu nationalist bjp  
00:31:59
party has a specific point of view and so when  modi wants to get elected there's going to be   specific kinds of free speech laws there you  know poland's going to have a different point  
00:32:07
of view and they're not going to respect what's  happening in the oversight board case in point  
00:32:13
australia passed a potential law or is considering  passing a law which is basically around if you  
00:32:18
know treating facebook and google uh as quasi  publishers and that you know they're i think  
00:32:23
that they have to pay some kind of royalty now for  articles that are shared or published or whatever   and google said i'm out and then facebook said i'm  out too um and so what does that mean for you know  
00:32:36
200 million people you're out what does that mean  you're out you can make money when the getting's   good and all of a sudden you build this public  infrastructure when the country's rules change i  
00:32:46
i actually respect that more than trying to create  some of this broad holistic governance committee  
00:32:51
because i think it's a [ __ ] show you can't  cherry pick which laws you want to observe and   respect and and then which laws you don't you know  i i think trimath makes an excellent point about  
00:33:01
how difficult this is going to be to implement let  me propose an alternative that actually comes from  
00:33:06
a former law professor of mine at the university  of chicago richard epstein he made the point that  
00:33:13
he wants to apply common carrier regulation at  least in the u.s to these monopolies and the  
00:33:18
example he gives is that the railroad monopolies  could not deny you service based on your political  
00:33:24
views and you know this is this is a um this is  a real issue imagine you know going back in time  
00:33:30
you know we had the lincoln douglas debates  for example the way that lincoln and douglas   went around the country was by train imagine  if some railroad magnate some oligarch said mr  
00:33:40
lincoln i don't like your views i'm not going  to give you passage on my railroad monopoly  
00:33:46
the common carrier rules would have prevented them  from doing that and what epstein suggests we do is  
00:33:52
a if you're a essentially a um a monopoly a speech  monopoly in the in the us one of these platforms  
00:33:59
that has uh you know gigantic network effects  you have to apply the common carrier uh rules  
00:34:05
it's an interesting concept i think let's move  on to um the economy uh and it'd be interesting  
00:34:11
we'll monitor obviously what the this oversight  board does we're going to monitor uh what's going   to happen with this uh january 6 uh sorry jason  the last thing on this is you could you can tell  
00:34:22
if you if you graphed and i'm sure somebody uh  listening to all in can graph and tweet this but  
00:34:29
if you graphed the price to earnings ratio of big  tech as all of these issues have come out like  
00:34:39
you know if you looked at a time series of their  pe um and you put on their you know things like  
00:34:45
george floyd things like the capital riots you  know all of these things that have created these  
00:34:50
um flash points issues around free speech  flashpoints the the massacre in new zealand  
00:34:56
and christchurch that was live streamed on  facebook all this stuff what you'll see is at   least capitalism is voting that these companies  will not be allowed to be companies much longer
00:35:08
so the smart money is betting that they're going  to be regulated and something's going to change   it's going to be a quasi governmental  organization exactly that the level of  
00:35:14
regulation at a government but government level  um is going to be so onerous as to make these   companies quasi nonprofits that work on behalf  of countries they're going to become utilities  
00:35:24
right they're getting they're going to get  regulated like utilities at some point or   they're going to have to adopt some governance  like we've talked about or other options will  
00:35:34
emerge and i think what jack is doing with  the is it blue sky is what they're calling   it blue sky yeah yeah what they're really doing  with blue sky is saying your profile and your  
00:35:44
data is going to be stored on some blockchain or  some decentralized system like bitcoin or like  
00:35:51
any other peer-to-peer service which means it's  not on their server twitter just pulls all that  
00:35:56
data together so we would all have our own  domain names and calicanus.com or saks.com  
00:36:04
profile dot whatever the html equivalent is let's  just call it dot social you know your sacs.social  
00:36:13
url would be your profile on facebook twitter  and everywhere else and when you post it to it it  
00:36:18
would post to facebook and twitter therefore they  could say we don't actually host this stuff we're   just pulling it together which then destroys their  business model champ's point what do we think  
00:36:28
as a little aside is going to  happen with the tick tock case   now that trump is out of office and biden  is in office we sort of alluded to china  
00:36:36
sacks being a super important thing that we  all have consensus on now what should happen  
00:36:42
with tick tock and do you think biden will  go after tick tock and say hey we got to get   this out of here because it's you know essentially  spyware and jack ma was just resurfaced and let's  
00:36:52
just talk about china for a second yeah i think  the sad reality is that the whole tick tock thing   is going to get swept under the rug um i think  there'll be no restrictions on tick tock i think  
00:37:02
what we need the issue with like with uh banning  tick tock though is that it's just one place where  
00:37:09
china can collect data on all of us i mean the  reality is there's thousands of places and so  
00:37:14
you know i do think that taking some action on  tick tock is warranted but it would it it is   a little bit of selective enforcement but what i  would like to see is some guarantee some assurance  
00:37:26
that um that tick tock is not is collecting data  in the way they're saying they're collecting   it and that there's not um sort of spyware uh  within the app and i don't think we know for sure  
00:37:38
whether there's spyware or not i'll say it i'll  say it slightly differently i've maintained   this for a while but it is inconceivable  that inside of big tech in every single  
00:37:47
company that you define big tech is  not at least one spy from russia china  
00:37:56
india israel pakistan saudi arabia did i tell  you guys i had a spy working for me a climate no  
00:38:05
you got arrested did i tell you guys about this  no tell us the story it's public so i'll share   it we had a data scientist um named hightower  great guy uh worked on our remote sensing team  
00:38:16
and worked on our nitrogen model which predicted  nitrogen content in soil and was very deep in the  
00:38:22
in the in the code base and everything and shortly  after i had left i found out this so climate just  
00:38:29
for the audience my company i started and ran was  acquired by monsanto in 2013 which is a big seed   company a lot of people know it for other things  and um and so i left and i found out that the guy  
00:38:41
quit went to the airport and the fbi intercepted  him at the airport and they found tucked into his  
00:38:48
bag a thumb drive and he had downloaded all of  our code base for our nitrogen models and he was   taking them to give them to the chinese government  and so he's in jail right now he's in prison in  
00:38:57
the u.s right now but this was like the most  non-descript super nice scientist data scientist  
00:39:03
guy uh you've ever met like you would have had  zero suspicion and um and it turns out this is  
00:39:09
the point how many of those exist in facebook and  by the way it was so easy for him to get access to  
00:39:14
our code base and he pulled all the stuff down and  he had the whole model and you know there's a lot   of uh articles about what happened in our case um  but you're right it's happening all over the place  
00:39:24
and um and i don't think that we fully appreciate  like how much of america's ip is stored in  
00:39:30
software uh and data and how accessible that is to  employees inside of these organizations and that  
00:39:35
the security is not adequate uh to protect that  data and that ip and then the crazy thing is like  
00:39:41
you know when just to connect the two dots here  on this jack muffin like when you saw that video   where like you know basically he was  forced to you know um show field team okay  
00:39:52
i'm okay and you know this is all  about the chinese party held captive  
00:39:57
my gosh like i mean these are  all quasi-governmental companies   alibaba exists uh because of the largesse of the  communist party in xi jinping if that wasn't clear  
00:40:08
after last week i mean and so to your point  like you know if any company gets a hold of  
00:40:13
of us user data or otherwise it's effectively the  chinese government getting a hold of that data  
00:40:18
yeah we don't need proof david when jack  ma disappears and then comes back and looks   he looked nervous on that video i'm no expert  but he did not look like he was the jack ma  
00:40:29
who was giving speeches and inspiring people and  i don't know what this does to entrepreneurship  
00:40:34
in china but i mean who in china is going  to start a company now and want to be  
00:40:39
the next jack ma or jeff bezos no i think i think  jason it's even simpler what happens it makes it  
00:40:45
makes entrepreneurship even simpler meaning for  those entrepreneurs that thought that there was a   balance between financial imperative and moral  imperative there's no balance you can flush  
00:40:54
the moral imperative down the [ __ ] toilet  they china will allow you to get super rich  
00:41:00
and super successful as long as you super toe the  line and that's the message right it's like what  
00:41:06
uh putin did with uh kordakovsky in russia it's  like he basically told all the oligarchs you work  
00:41:12
for us now and uh and it worked that's basically  that it worked that's basically the message  
00:41:19
uh from the ccp to jack ma and to every other  entrepreneur in china is you work for us now   and by the way civil military fusion was part was  was a policy expressly announced by president xi  
00:41:31
you know one other data point on this i  think is really interesting is that biden   just announced that he was keeping on christopher  wray as the head of the fbi um christopher wray  
00:41:41
gave a speech back in july at the hudson institute  about um the counter espionage efforts uh that the  
00:41:49
fbi has engaged in and he was saying that the  fbi has more cases now related to uh to chinese  
00:41:57
uh counterintelligence he said that the fbi is  opening a new china related counterintelligence  
00:42:02
case every ten hours and two days and two  a day and of the of the nearly 5 000 active  
00:42:09
fbi counterintelligence cases currently underway  across the country almost half are related to  
00:42:14
china so this is directly from a speech he gave  in july so i think it's really interesting now at  
00:42:19
the time that he gave the speech you know a lot  of people were saying well this is just trump's   more of trump's china baiting but i think that by  biden keeping on chris christopher wray there's  
00:42:30
a continuity of policy there and i think you know  focusing on tick tock is probably the wrong thing  
00:42:35
we need a more comprehensive policy to deal with  counterintelligence well it's a good start though  
00:42:40
to say if you hit scale we're not going to let  you operate here and we want reciprocity adding   to this uh outgoing secretary of pompeo and is  the day before the inauguration uh tweeted i have  
00:42:52
determined that the people's republic of china is  committing genocide and crimes against humanity  
00:42:58
in china targeting the uyghurs muslims and members  of other ethnic and religious minority groups  
00:43:05
that's quite a bomb to leave the  day before and i think this signals   we are going to keep resetting this relationship  and what an incredible opportunity for us to  
00:43:13
bring factories back here bring as we've talked  about here manufacturing back correct freeburg  
00:43:18
that's what i think oh let's keep going  let's kick it off we got we got three   three million factories in china i think we've  got less than a hundred thousand in america  
00:43:28
let's go and it will be so glorious it will be so  [ __ ] glorious i mean think about this right look  
00:43:33
think about the amount of money like at the end  of the day what is a government's purpose is it   to run a profit no you know that's our job right  is it to run at break even i would actually say no  
00:43:45
i think it's to basically promote the prosperity  of current and future generations of its citizens  
00:43:51
and so you should be investing so if this is the  you should be an investment so if we're going to   be printing you know trillions of dollars and  you know we should talk about the stimulus bill  
00:43:59
because biden's going to rip in another 2 trillion  which i think is the perfect segue and by the way   and then after that there's going to be this it's  amazing infrastructure bill put the money to work  
00:44:09
let's reclaim a bunch of this capability  on shore and let's re-build america okay  
00:44:16
uh freeburg you looked at the um 1.2 trillion  dollar stimulus package that biden is  
00:44:22
proposing how much of that goes towards rebuilding  factories in america well none so so remember
00:44:29
yeah but it's 1.9 billion yeah it's 1.9 trillion  1.9 trillion yeah absolutely and so just to put  
00:44:36
that in context you know wall street has  talked about there were going to be four   um four massive stimulus bills you know since  last april may i think they've talked about this  
00:44:44
and we're seeing this come to to fruition now and  jamal correct me if you've heard differently but   there's always been the expectation we would have  the big first stimulus which we had last march  
00:44:53
then a second stimulus people have been waiting  for the state stimulus or the local government   stimulus which this one now it captures and  then the fourth program was always going to  
00:45:02
be infrastructure and we haven't seen details  of the proposed biden infrastructure plan yet  
00:45:07
but i'm pretty sure it's going to have a  lot of green energy uh stuff tied up in it   but let's just let's just hit the numbers  right so in 2009 post financial crisis to  
00:45:18
keep the global economy from collapsing  um congress passed an 800 billion dollar  
00:45:25
aid package 800 billion was extraordinary at  the time and we had never seen anything like it  
00:45:31
tarp and um last march if you'll recall we passed  this emergency two trillion dollar package you  
00:45:38
know more than 2x what we had during the financial  crisis and now just in december right before   the year wrapped up congress passed another 900  billion dollar package and now we're talking about  
00:45:47
this 1.9 trillion dollar package getting passed  so we've eclipsed anything you could have ever con  
00:45:53
considered possible um in terms of fiscal stimulus  at this point the m1 money supply which i sent the  
00:45:59
link out ahead of this for has gone up by 75 uh  in just the past year and now if we break down  
00:46:07
the 1.9 trillion dollar stimulus bill um you  know a huge chunk of it and this is what wall  
00:46:12
street's been waiting for is 350 billion dollars  is going to state and local governments so think  
00:46:18
about san francisco or the state of california  um the city of chicago the city of new york  
00:46:24
all of these folks have seen their revenue decline  and they've had to run massive emergency programs  
00:46:29
where's that money coming from they haven't been  able to raise taxes they've had to put a hold on   on receipts and so this is meant to bridge the gap  at the local level and this is really important  
00:46:39
because so much of capital markets still very  much fund local and state governments through  
00:46:46
municipal bonds and those bonds if they start to  default are going to have a dangerous rippling  
00:46:51
effect in the economy so bridging the state and  local government budgets with this 350 billion  
00:46:57
dollar package turned out to be um you know an  absolute need and the republicans prior to the  
00:47:03
the election were pushing hard against this and  saying let those states fail they're mostly blue   states let those cities fail they're mostly blue  cities they're mismanaged they're they're being  
00:47:11
stupid about how they're operating so this is a  big deal there's 160 billion for covid fighting  
00:47:17
some of which you know i throw up on 20 billion  dollars for vaccination which equates to about 150  
00:47:22
dollars per person they expect to vaccinate which  is an extraordinarily high cost if you actually   think about it on a first principles basis  it's ridiculous how inefficient they're going  
00:47:30
to be at this 50 billion dollars for testing 40  billion dollars for protective gear and supplies  
00:47:36
and what this indicates to me is so much of  what goes on in government government spending   is skating to where the puck used to be  not skating to where the puck is going  
00:47:45
and it's almost like by the time this money gets  deployed i'm not sure we're going to need as much   protective gear and supplies i'm not sure we're  going to need as much testing if we can actually  
00:47:53
get the vaccinations done in the next 90 to 100  days and much of the country starts to recover   from this you know you've now got 150 billion  dollar program sitting out there that doesn't need  
00:48:02
to be out there and it's a waste of money what we  should be doing is taking that money and investing   in biomanufacturing infrastructure so we can more  quickly develop and deploy vaccines in the future  
00:48:12
what would it cost to build a factory just back of  the envelope that was capable of making the next  
00:48:18
you know let's call it one two billion vacancy  shots one two yeah it's it's not a lot so  
00:48:24
let me i'll give you guys the unit economic  build and you can do the math at home four  
00:48:29
grams per liter is the expected yield of a um of  a biomanufacturing facility and a leader is like  
00:48:37
you know how many liters of water do you have in  a tank you can build half million liter facilities  
00:48:43
for a couple hundred million dollars and  that's four grams per liter every seven days  
00:48:48
and us vaccine or the the antibody therapies  that we've seen the antibody therapies are  
00:48:53
about two grams and that'll save someone's life  uh the the vaccines are a fraction of a gram  
00:48:59
and so you can start to kind of do the  math on how just a few billion dollars   invested in building some of these  biomanufacturing facilities that are  
00:49:06
modular and can be very quickly reprogrammed  to make a new molecule can be used to support  
00:49:12
the future vaccine supply chain and the future  anti-antibody therapeutic supply chain which is  
00:49:18
critically needed in this country and if i were  to take 160 billion dollars for covet fighting   give me 10 of that and we'll be ready for any  virus in the future and we'll be able to print  
00:49:28
out vaccines for the whole country within 30  days um and so a little bit again of this is   not really forward thinking it's scientists and  doctors saying what they need what they're talking  
00:49:36
about is last year's need they're not thinking in  terms of what the industrial supply chain needs   are going to be in the future on an ongoing basis  for this country at this point i'm not seeing it  
00:49:44
and so i feel a little bit let down by that and  i hope that the infrastructure programs that are   going to be proposed in the next in the next  bill will start to encompass some of that work  
00:49:53
paradoxically it's going to cost a trillion  dollars to upgrade our nuclear weapons so we're  
00:49:59
literally going to spend a trillion dollars over  the next decade open upgrading our nuclear weapon  
00:50:05
is that is that true that's nutty that's what i  i'm reading a headline right here um here's my  
00:50:10
here's my little wish list for this infrastructure  build i think um when you look at some of the  
00:50:16
most compelling work that's happened in the  developing world so like if you're going to go and   you know build a massive water facility or  an energy installation um a lot of people are  
00:50:28
worried hey listen i have to deal with you know  local currency risk i have to deal with you know  
00:50:34
corruption i could have the government you know  take away this facility from me without notice the   rule of law may not be strong and the world bank  has this mechanism where you can basically go and  
00:50:44
ensure you know for i think it's like one or two  percent of your project costs the whole project   and it really makes things work i would love to  see the us government effectively create a program  
00:50:56
that is similar but different in the following way  there are some enormous things america needs to do  
00:51:02
where the ip exists with our allies and there  is an enormous fear what would happen if that  
00:51:12
ip leaked specifically to china one example is  if you believe and you care about climate change  
00:51:20
and the making of batteries um there's an  enormous amount of ip that sits with the japanese  
00:51:25
um that you know if we could license and work  with as a country we could build factories all  
00:51:31
over the country and we would be the leader in  climate but that'll take the us government to  
00:51:36
basically work bilaterally with the japanese  government to basically say listen if it takes   the nsa to [ __ ] protect this [ __ ] we will  do it um but you can run them they we could  
00:51:47
just give them their sovereignty and those facts  you know these are these are these are for-profit   companies that are you know relatively risk-averse  they're not going to rip in 10 million bucks to  
00:51:54
10 billion dollars to build you know a cathode  plant in the u.s i would other people would um  
00:52:00
but that's my hope in the infrastructure bill is  that we take some of these things that have worked   in the developing world and we use it to grease  the skids in how we rebuild america it would be  
00:52:10
[ __ ] glorious and also just think about how much  a nuclear power plant costs it's like six to nine   billion dollars to build a nuclear power plant and  we haven't built many new ones and we're on the  
00:52:20
way there but if part of this trillion dollars we  could build 10 more of those energy independence   would uh continue in global warming would go down  uh anything to add there dave it looks like you  
00:52:29
want to come well i just did just one final word  you know the um the the the great senate leader  
00:52:37
uh everett dirksen famously said that you  know billion here are a billion there pretty   soon you're talking about real money and now we're  talking about a trillion here and a trillion there  
00:52:46
and these are really big numbers uh and i think we  should be very concerned about debt and deficits  
00:52:53
no one's really talking about this yet but all  of this money has to be paid back at some point   um well what's the worst that can happen david  let's actually do that i'm i mean i'm asking  
00:53:02
the question in a non-joking way what is the  worst that can happen oh i mean crisis inflation  
00:53:08
inflate well not not just so inflation because the  government will eventually have to monetize the   debt by printing more money the dollar stops  becoming the world's reserve currency maybe  
00:53:17
bitcoin becomes the world's reserve currency  maybe something else does um it could be lead to  
00:53:22
you know very severe to basically a debt crisis in  the future what would that look like for companies  
00:53:28
and citizens of america well if you're middle if  you're middle class your savings get wiped out you  
00:53:33
know if you so so if you're super rich the reality  is there's already been tremendous asset inflation  
00:53:39
so there's already been a lot of inflation but  frankly if you are very rich and own assets in  
00:53:44
the stock market you're you're sort of you're  protected you know but if you're a middle-class  
00:53:49
person with most of your savings in your bank  account that money is not worth a lot less  
00:53:55
or your home yeah you get destroyed by that yeah  it's really very sad so if you are in equities and  
00:54:00
the market is on a rip you know paying an extra  couple of million dollars for your second home  
00:54:05
is not a big deal because your equities have gone  up more than that or equal to that and if you're   right somebody who get makes income we have uh a  separate issue well look this is this is a this  
00:54:15
is a bigger issue but but and i think we should  talk about this at some point because this is what   the grand fallacy of technology was  supposed to be like you know if you  
00:54:24
if you break down capitalism into its two most  natural states you have labor and you have capital  
00:54:29
right you have workers and you have owners and  the biggest problem that technology did was it  
00:54:35
drove a wedge and it created an extremely small  owner class and an extremely massive labor class  
00:54:41
and so the reality is that a very few very  a handful of people can can get extremely   wealthy by being owners of these next generation  assets and then everybody else is essentially you  
00:54:52
know rendered as labor um and so this wealth  inequality just grows and grows and compounds  
00:54:57
um and so we have to figure out a way yeah how's  that different than the past because i think it's  
00:55:02
got i think i think technology accelerated that  dynamic well i think jumping in on this i mean i  
00:55:08
i think that technology creates bigger winner take  all outcomes and that's fed into inequality but  
00:55:13
the good thing about tech or the tech ecosystem  is that frankly we have option pools right we have  
00:55:18
broad-based ownership of these companies if you  go work for a google or facebook or whatever um  
00:55:24
you get all these brands yeah that's what 10 000  people that's 10 000 people that's no one and  
00:55:30
they're and they're replacing 2 million jobs with  10 000 people i mean this is this is why we need  
00:55:36
to have a hundred percent participation in the  markets by everybody in the country joe greenblatt   who i had on my podcast recently is a proponent  of this chemotherapy so you tweeting about it  
00:55:45
when you're born in the united states we should  put five thousand dollars in a 401k that you   can't touch until you're 65 years old that is in  whatever index funds and every person born gets  
00:55:56
that 5 000 and cannot touch it and then we see  where it winds up it doesn't solve the problem  
00:56:03
that a lot of people have to climb up a hill first  right they take on a lot of debt to get education   to put themselves in a position to ultimately be  able to generate the income to do that and i think  
00:56:12
you know sure give them 5 000 in the beginning but  it's not going to get them where they need to be   but it does solve one portion of the problem which  is they don't have participation and we could take  
00:56:20
out the wondering what your retirement is going to  be like i think both of you are right i think like   there needs to be um something that allows people  to have a line of sight to savings like a lot a  
00:56:30
lot of about being invested in in anything where  you own it whether it's real estate or whether  
00:56:36
it's a piece of artwork or whether it's stocks and  bonds so many people don't even know how to begin  
00:56:42
and don't understand the concept of ownership and  so they are stuck in being in the ghetto of labor  
00:56:47
and i think like one of the biggest things  we can do is you can give them the taste   of ownership so that they understand that  difference so that they want to be an owner  
00:56:55
yeah okay number one yes and then to david's point  number two is we still have a responsibility to  
00:57:01
educate people so that they can actually have  skills that they can monetize and we have a  
00:57:06
responsibility to do that and right now we make it  so [ __ ] hard and we trick people because like we  
00:57:13
we send them down the path of getting a 200 000  art history degree and then they end up working   at a starbucks and then which is impossible to  monetize i mean it's free you can't monetize that  
00:57:23
you can't by the way by the way what you're saying  is the reason i think retirement accounts were set   up in the u.s was to shift away from pension  fund models where people were getting a fixed  
00:57:32
income at retirement and shifting them to a model  of equity and ownership in the markets where they   could participate actively on a tax-free basis  um but obviously it hasn't done enough you know  
00:57:43
i think the big difference between the industrial  revolution the first and second industrial   revolution and where we are with software in  the last two to three decades is the capital  
00:57:53
required right it's very little capital to build  a highly valuable software business it required  
00:57:58
a lot of capital to build oil infrastructure and  railroad infrastructure and factories and so to   your point you get extraordinarily different  outsized returns today than you did a hundred  
00:58:07
years ago as an owner versus labor the and the  bridge to try and give people ownership through  
00:58:12
retirement accounts certainly hasn't been enough  so so to your point to your point david i saw this  
00:58:18
study it was [ __ ] crazy i'm going to get the  exact numbers wrong but the trend is accurate  
00:58:23
when um when when people used to actively manage  their 401k there was a very small participation  
00:58:30
rate but the mean return was off the charts and  the amount of dollars as a function of their   paycheck was off the charts call it you know 50  60 cents of every theoretical dollar you could  
00:58:41
put into it the minute that we went to passive and  that you know you could sort of trickle money in  
00:58:47
the number of people that participated literally  more than doubled but then the amount of that  
00:58:52
max dollar went off of a cliff and so the the  problem that we've had is we haven't taught people  
00:58:59
you know we've misdirected some of them to  say have a 401 k it replaces your pension  
00:59:04
as if it's the solution that's still not the  solution um and we need to have ways of teaching  
00:59:10
people how to actually manage it it's not that  hard and the basics can be taught very simply  
00:59:15
but right now we are massively exacerbating this  wealth gap the way that we behave and that all of  
00:59:21
this money that's going to go in this 1.9 trillion  whatever how many trillion comes afterwards   is frankly for the few that are smart enough to  take advantage of it will be amazing but it'll  
00:59:30
still push the overwhelming majority of americans  who are stuck in labor deeper and deeper into that  
00:59:37
ghetto and they'll never get up it is definitely  every little bit helps right like if you have the  
00:59:42
401k that helps and then you know educate people  and i think if we gave everybody an isa at birth  
00:59:48
or an i you know an income sharing agreement for  these 20 professions and the government provided   why jason why is it that you know for example  if to invest in a startup you either have to  
00:59:59
have more than five million dollars or more than  you know a million 200k a year it's not more than   they're going to change it and so if you're if  you're a product manager that's like really really  
01:00:07
talented or if you're like you know somebody else  who's just got a you know a phd in nuclear biology  
01:00:13
and frankly is you know is decided to teach for  sixty thousand and you can't participate even   though you have the intellect to judge like  we're just like kind of like compounding it's  
01:00:23
even worse than that the person who's changing the  accreditation laws at the sec and working on this  
01:00:28
said i cannot i'm writing the accreditation laws  and because i make 150k a year or whatever it is  
01:00:34
under 200k i can't participate and i'm the one  responsible for the law that person must be one  
01:00:40
of the most sophisticated people in the world it  literally is the most sophisticated person in the   world when it comes to accreditation and that's  why we need to move to sophisticated investor  
01:00:48
not accredited and just some test and if you  did that every single uber driver lyft driver  
01:00:55
post mates driver airbnb host uh or a person who  used the cash app or paypal would have said i can  
01:01:01
as one of the first users i have access to buy  shares i'm just going to say this i'll buy them   this problem has to get fixed because i think in  the next 10 i think in the next 10 and 20 years  
01:01:11
the united states is going to [ __ ] re-emerge  like a phoenix and the reason the reason is going  
01:01:17
to be because of innovation around climate change  and agriculture and biotechnology and technology  
01:01:22
these four areas are going to recast gdp but  what that also means is that if we're going to   create you know 20 or 30 trillion dollars a year  for the next 10 and 20 years 300 500 trillion  
01:01:36
how the [ __ ] do we make sure that more than  18 people participate absolutely great well  
01:01:44
so i agree with a lot of what you guys are  saying but i can tell you every single one   of the companies that i've invested in are looking  to hire people right now they cannot hire people  
01:01:52
soon enough it's their biggest challenge and it's  not just coders it's sales people it's marketing  
01:01:58
people it's hr people it's every every role in  their company they have trouble trying to hire  
01:02:03
the right person and and and they give options to  all those people so it's not just a small number  
01:02:08
of founders getting equity uh this is basically a  new category of call it entrepreneurial labor it's  
01:02:14
labor who gets ownership in the company that's  never existed before and really what this comes  
01:02:19
down to is we need more people participating in  the new economy if you participate in the new   economy then you get ownership and if you're in  the old economy then you really are stuck in labor  
01:02:29
and so we need to do is spread the opportunity  that that technology represents to more people  
01:02:36
across part of the minimum wage maybe we should  have a minimum equity participation so we have   the minimum wage over here but if you're working  for an entrepreneurial enterprise why not get a  
01:02:43
minimum you know participation in equity because  the free market takes care of that i mean if you  
01:02:48
have the right market it hasn't taken care of it  david no it has no no the free market has i agree   with david the free market has the problem isn't  that how does a person working at walmart ever  
01:02:57
participated in the walmart appreciation that's  the point they will they will leave and go to a   company that gives them equity and that's why  you'll see this this that's convenient to say  
01:03:05
but if walmart's the only job within an hour  of their house it's not they got to have the   right skills jason and so this all comes back  to education you know we gotta yeah who are in  
01:03:16
rank and file jobs the 30 million truck drivers  cashiers etc have equity participation as a right  
01:03:22
i think i think you're saying something different  should they absolutely should the company that  
01:03:27
does that be created absolutely will they be  rewarded with all the people that want to work  
01:03:32
there absolutely so now somebody should go and  start that [ __ ] company okay i just think it's  
01:03:39
an interesting concept i mean we do have a minimum  wage why not have a minimum jason participation  
01:03:44
you know the same woman that ran elon out of  california lorena gonzalez she's doing another  
01:03:50
thing just proposed a new bill like do you want  her to basically pick the equity thresholds  
01:03:57
because that's what you're saying uh well no  let's pivot let's put it to california okay   let's pay over to another disaster california so  the recall is uh well uh on its way they need to  
01:04:09
get 1.5 million signatures we're at 1.1 or 1.2  but we actually really need two because there's   some verification process that goes on so in all  likelihood we will see gavin newsom recalled we  
01:04:20
agree on that yeah i'll tell you this the stats  i heard there's about a million call it a million   million one signatures they've seen about an  85 percent verification rate today uh saks  
01:04:29
correct me if i'm wrong on this they're getting  they're getting about 200 000 signatures a week   um they're you know the cost for marketing and  attracting people to get these signatures is  
01:04:38
coming in at like three to six bucks a signature  so it's really not a lot of money's needing to be   spent to get this done and um you know even  if the verification rate drops to 75 or 65  
01:04:50
you're still on track at this rate to hit the  recall target by march 17th which is the deadline  
01:04:56
and so it appears highly likely they're going to  get there sax am i right on all that uh yeah i  
01:05:01
think they're at 1.2 million uh signatures that's  what i heard and they're trying to get they're   trying to get to 2 million to have a buffer so  that you know they that you know they don't get  
01:05:10
pushed under the but 1.5 is the number they need  yeah they need 1.5 million certified signatures  
01:05:17
seventy percent of the way they are according  to the website recallgavin2020.com which   think i think i think they will get there  i think they'll get there and then their uh  
01:05:25
and then the recall election would take place  about four to five months after uh after that  
01:05:30
there's a a couple of months where it moves  through the finance committee the recall election  
01:05:36
has to be budgeted and then um newsome would  have the opportunity to set a date within i think  
01:05:42
60 to 80 days roughly so i think we're looking  at july for a a recall election and sex how how  
01:05:50
do you get um how does a candidate get on the  ballot because champ um is asking for a friend
01:05:58
wait a second i want to be on two that can should  we have all four besties be on yeah we should
01:06:10
we're probably going to have four kardashians  on there so we might have four besties on there   um kardashian yeah so the uh it's it's  it's stunningly easy to be a replacement  
01:06:20
candidate we should expect there'll probably be  about 150 replacement candidates on the ballot   every every third tier seedless celebrity  is gonna you know like you know back to gary  
01:06:31
coleman did it like you know 20 years ago all  every single celebrity that you're talking about  
01:06:37
yeah to try and boost their cue rating  uh i'm sure we'll see kathy griffin   on there i mean what she'd been  doing um and so it's gonna be a farce
01:06:51
can we deal with celebrities by the way can we  talk about why he's getting recalled because i  
01:06:56
do get this question a lot from people in tech  and out of tech and i just want to highlight  
01:07:01
some of the reasons i've heard and i'd love  to hear why you guys think he's you know why   there's this push against him but from people  within the tech community i've heard that the  
01:07:10
ad hoc lockdown rules have really pissed a lot  of people off in terms of when businesses are  
01:07:15
allowed and not allowed to be open and kind of  the responsiveness and the guiding principles   around this during covid obviously the you  know the inability to fight against the tax  
01:07:23
rate but no one wants to be publicly saying that  um the failed vaccine roll out the failed testing  
01:07:29
um you know saks jamal jason what what do you  guys think is the reason he's getting recalled  
01:07:35
what are the top five hypocrisy is number one  i think it's the hypocrisy of going to those   restaurants and then making people not go to the  beach which is crazy and then i think number two  
01:07:44
is the virus we've only deployed 37 of our doses  in california and that makes us you know of the  
01:07:52
major states that are putting out a lot of these  vaccines uh one of the worst performers uh second  
01:07:59
yeah we're talking about florida and new york are  the other large states and they're at 56 49 and 50  
01:08:06
we're still stuck at 37 california the cradle  of innovation and technology and this bum  
01:08:12
he's a bum 37 percent deployed we  should be leading should be 70 percent   he's a bum can i get it wait wait it's it's new  some derangement syndrome oh my god i'm just going  
01:08:23
to get a viral clip i'm trying to get a bottle  of clothes you guys know you're besties jason   just has a problem with anyone in authority  you know i know it's the hair it's a problem  
01:08:32
it's the hair is too good french laundry the  hypocrisy and then get to work so personally  
01:08:39
personality personality for you is the biggest  driver is that right jason no it's it's literally   the performance of their washington dc west  virginia north dakota south dakota all 66 to  
01:08:51
three percent of their vaccines employed they're  double us now it's smaller states but still we're   goddamn california here's what i would say as a  list um number one we're the most heavily taxed  
01:09:05
number two we are we have some of the  worst infrastructure in the country  
01:09:10
we have some of the lowest and poorest performing  schools in the country we have the highest   homeless rates for veterans in the country we have  the worst preparedness for climate in the country  
01:09:22
um and so it's basically just a complete bungling  at every level and so and then the fourth or the  
01:09:30
then the last which is the biggest one is  we have now created an inhospitable culture  
01:09:35
for innovation and the biggest problem with that  is if these climate jobs and these technology jobs  
01:09:42
and these biotechnology jobs pivot to more  accepting and progressive um local and state  
01:09:51
managements like austin texas and miami  florida we lose these things forever this is a  
01:09:57
multi-generational decay that we're starting and  so if we care about the state i love california  
01:10:03
i love san francisco i love how eclectic and  unique and different it is i was always happy   to pay 10 11 12 13 14 because it was worth  it now i don't know what we get for it and  
01:10:14
so i think we i think i think he should  get recalled i just think he's he's trash  
01:10:20
and yeah and just to just underscore the point  on lockdowns um we now have certainly more cases  
01:10:27
we have more deaths and we have more deaths per  capita than florida despite the fact that florida  
01:10:34
has no lockdowns and a much older population and  so i was just in florida a few weeks ago like um  
01:10:41
you know like chemoth was saying you know suarez  the mayor there has created really a land of the  
01:10:46
free i mean it's really unbelievable you can go to  bars you can go to restaurants there's no lockdown   whatsoever they don't have as big a problem as  california does right now why do you think that  
01:10:55
is because well because i think that the last  scientific basis yeah i think the lockdowns  
01:11:01
only forestalled the problem um eventually the  virus finds a way around them and i also think   the thing that's happening in florida is that  okay so my aunt lives there she's in her 70s  
01:11:11
she's not going to bars and restaurants because  she knows she's highly at risk and so just because   the government doesn't lock down doesn't mean that  people don't take sensible precautions on their  
01:11:20
own and so and so i think that what's happened is  that people are going out to bars and restaurants  
01:11:26
are low risk and they're keeping the economy going  over there and instead in california we have this   very draconian lockdown policy and has put all  these small businesses out of out of work no no  
01:11:35
it's worth it it's not a draconian lockdown policy  it's a whip saw at oh it's open okay great now go   and invest in a bunch of cat-backs to make sure  there's outdoor dining oh hold on you're closed  
01:11:45
what is that that's just that's just stupid tons  of restaurant bar owners in san francisco spent  
01:11:50
on average 30 thousand dollars building outdoor  seating for their facility only to have it all   shut down three and a half weeks later incompetent  i mean can you imagine being an owner of that  
01:11:59
business what the it's unfair no i mean you  would literally they're going to kill themselves  
01:12:05
people will lose everything and there'll  be suicides depression domestic violence   and then this guy's having dinner at french  laundry during the whole i mean it's just such a  
01:12:13
watch i just got a note what about that he  will he's he's actually been banished from   being at the french laundry apparently it's  been renamed the sri lankan laundry and some  
01:12:24
notable sri lankan billionaire has bought  the french laundry french laundry by the way
01:12:30
they got a 2.6 million dollar ppp lawn that got  forgiven so you know there's a there's a lot of   heat on the french laundry as a whole what  does it cost to go to french laundry 800 a  
01:12:39
person anybody who wants who's listening to  this who wants to go to the french laundry   stay at home pour a bunch of salt on whatever  you're gonna eat okay melt a stick of butter  
01:12:49
in the microwave stick a butter in the microwave  drink it and then basically take fifteen hundred   dollars light it on fire you've been to the  french laundry you're welcome here's what you  
01:12:58
do take a really great steak trash and throw out  percent of it that places and put the cube in the  
01:13:05
middle of a big large plate that is that that's  not even nouveau riche it's just nouveau stupid  
01:13:11
oh i got trash meanwhile people are down in like  texas getting like a a brisket burrito for four  
01:13:19
dollars but i think california really needs to  fix this we need to figure out what's going on and  
01:13:25
i just want to ask one more question  of you guys you don't think that this   um you know because i was having this debate  with my family about newsome and i was telling  
01:13:32
them about the perspectives i was hearing from  tech people and why everyone's so against newsome   and i've heard all these different things that  you guys have shared today and you know they're  
01:13:40
very you know and i'm hearing a lot of people kind  of making the counterpoint like this is a very um  
01:13:45
difficult time it's been an impossible year for  everyone everywhere so first of all you know new  
01:13:51
sim was dealt a pretty difficult hand to play and  at the same time we are all psychologically primed  
01:13:58
to look for grass being greener on the other side  i think a big part of you know certainly there's a   lot of people leaving california my belief for  texas and florida primarily because of taxes  
01:14:07
and then you justify it with all the things that  are wrong with california but we're all really   primed right now um with this notion that that  it's a difficult place to be but we're also really  
01:14:18
having a shitty year we've had this pandemic  businesses have been shut you know everyone's   sick the economy is having issues i mean you know  this was a really difficult hand that's been dealt  
01:14:27
well i i don't buy that as an excuse for newsome  i mean look it is true that we're going through a  
01:14:32
very difficult time but the reason i don't buy  that as an excuse for newsom is because this   is not april or may of 2020 when we thought the  fatality rate was seven percent right and you know  
01:14:42
lockdowns could lock downs could be justified then  but we now have so much more data we've seen that  
01:14:48
states that did not do lockdowns like florida and  texas frankly have been no worse off than those   that have done very severe lockdowns and so what  is the point of continuing with this facade um and  
01:14:58
that is what i think we can legitimately  blame newsome for is the failure to learn   and to change courses based on data to adapt and  where is the last briefing on most of the spread  
01:15:12
is not happening at businesses it's happening in  homes and in california we have a particularly   difficult problem because of multi-generational  family homes especially in the latino communities  
01:15:21
that have been hardest hit by kovit and the um  the transmission just with diabetes as well but  
01:15:28
yeah the transmission rate in those communities  is three to five x what it is elsewhere um and  
01:15:33
i think you know and that is not a result of  businesses being open in fact those communities   are also suffering the biggest hardships because  businesses are closed well by the way this goes  
01:15:43
to the vaccination strategy just being so idiotic  like you know if you wanted to be equitable then  
01:15:48
why weren't we just rolling through and basically  getting those families to be vaccinated first  
01:15:53
independent of age you know you're you're you yeah  apparently those are all these vaccination sites  
01:15:59
nobody shows up i spoke to sfdph uh department of  public health about this last week and they told  
01:16:04
me that they cannot get those communities  they're very non-trusting of the vaccine   and they're having a real struggle getting people  to sign up to take the vaccine the problem is even  
01:16:12
if that is the case the problem is you should not  be holding up vaccines for one community then get  
01:16:18
everybody else vaccinated so they overheat you cut  the head off this [ __ ] transmission over 60 gets  
01:16:24
it that's it there's nothing to discuss let's wrap  it up everyone everyone gets it but you allocate   a certain number of doses to you you basically  have like a tsa pre-check line if you're over 60  
01:16:33
or you're in certain communities you jump to the  front of the line and that's it but everyone can   stand in line and put [ __ ] shots in arms because  everyone i know that's over 65 can't even get an  
01:16:41
appointment and it's [ __ ] um and the whole thing  is it's incompetence so i think but i think what  
01:16:47
sack said is so right it's like in these moments  jacal uh and friedberg like a light gets sean on  
01:16:54
the ability for people to figure things out and  then you know what the intellectual capability  
01:17:00
of these people are and like look we saw the  intellectual incapability of trump because we all  
01:17:07
stopped this guy could not adapt okay and um and  so we are now seeing the intellectual incapability  
01:17:14
of gavin newsom and i just think they're they're  part of the same lot they're just kind of  
01:17:19
you know people who are um in over their head  and they're beholden to people who got them there  
01:17:26
and their number one concern is staying in office  which means appeasing a bunch of special interests  
01:17:31
uh speaking of special interest david sachs is  still on tilt about uh conservatives being uh  
01:17:38
canceled uh david you wanted us to wrap with this  uh wilkinson cancellation so every uh podcast  
01:17:44
we're going to have a right winger who's canceled  and david's justification for putting them back on   the platform god david well actually so yeah this  is this is this is the uh issue of the week with  
01:17:56
david yes yes it's well this is actually it's  not a it's not a left wing it so this is the  
01:18:02
issue to draw on social media right now is that  a writer named will wilkinson was just fired from   his job and canceled but here's the thing it was  he's not a conservative he's actually a liberal  
01:18:11
what and it was a yes and it was a right-wing  tweet mob that got together to get him fired  
01:18:18
yes and so how did you get this mop together to  get him cancelled explain it uh yeah so we're back  
01:18:26
everybody so much for the wives dinner my gosh  yeah i'm gonna need another wives dinner well  
01:18:31
no i look i i feel the need to speak out on this  because i gotta make it really clear that i do   not support cancel culture when perpetrated by the  right against the left i think it's what did he do  
01:18:42
okay so he posted a tweet making a joke that maybe  was important not that funny basically saying  
01:18:48
that if we want unity the one thing that like the  trumpers and the bind supporters can agree on is   hanging pence you know it's what it's hanging  lynching minecraft lynching senses what's that  
01:19:00
do you use the word lynching or hanging he said he  said hang i think no i think he said i said hang  
01:19:06
on maybe a taste and it's inciting violence on  the march because it's in poor taste yeah well no  
01:19:12
look it it's it's a it's a it's a joke that's not  actually that funny and maybe in poor taste what   he's referring to is the fact that the you know  that there were people on january 6 who were going  
01:19:22
after mike pence right that was sort of the joke  anyway look he that's not the point he deleted it  
01:19:28
he apologized for it his bosses still fired him  for it nobody believes that he was trying to  
01:19:33
incite violence okay i mean come on we all know  that was not inciting violence but um but the  
01:19:41
mob pretended that he was in order to create  its phony outrage and then his bosses have to  
01:19:48
uh pretend that caterpillar doesn't yeah in  order to appease the mob and they pretend   like it was incitement to violence so they  can fire him and then he even had to pretend  
01:19:58
that he was inciting violence because he  had to then objectively apologize for it   and there's this that's the thing about cancer  culture i really don't like is just it's just so  
01:20:06
fake and phony we all have to pretend and  things that aren't true in order to pacify  
01:20:11
some you know tweet mob whose outrage is  manufactured anyway and i don't like seeing  
01:20:16
the right doing this um and that's what i tweeted  about and then we had all these people on the   right responding to me saying an eye for an eye  you know you know the left deserves this too now  
01:20:25
they're gonna get a taste of their own medicine  and the problem with that is look you know you're   you might win this particular battle but you're  losing the war because you're now buying into  
01:20:34
the premise of cancelled culture you're now buying  into this idea that we need to economically cancel  
01:20:40
people who disagree with us and i i really  reject that it's certainly bad timing to say  
01:20:47
lynch or hang whichever word he used  obviously lynching is a much worse word   uh after people were chanting hang mike  pence but he was making a commentary on that  
01:20:56
the joke didn't land and when the joke doesn't  land you need to just take ownership of that   and say that you shouldn't be canceled you just  say it was a poor attempted humor i apologize  
01:21:05
right and jason you know better than anybody  else is when a joke doesn't land so yeah i mean
01:21:13
here's one thing to learn about comedy people  don't remember the jokes that don't land they   they remember the ones that land okay everybody  it's like investing in startups it's like  
01:21:21
you've got a lot of losers to find the few winners  absolutely that's my i'm a volume guy you know   that uh governor moth.com governorsacks.com  governorfreeberg.com and government sorry can i  
01:21:31
just say jason jason if if newsom is recalled i i  would like to put my name on the ballot and my my  
01:21:36
commitments are quite simple i just want to i'm  going to cut the taxes to zero and i'm going to   basically create an incredibly pro climate change  um jobs and pro tech jobs and pro biotech jobs  
01:21:50
economy and i'm going to raise teacher salaries  and i'm going to give everybody a school  
01:21:55
can we maybe maybe maybe on the next episode we  can all uh declare that we're running for governor  
01:22:01
and present our platforms oh let's do that let's  do that next friday all right go to governor.com
01:22:22
love you besties love you saks back at you
01:22:30
we'll let your winners ride rain man david  
01:22:50
besties  
01:23:01
we should all just get a room and just have one  big huge orgy because they're all just useless  
01:23:14
we need to get
01:23:23
i'm going on

Badges

This episode stands out for the following:

  • 70
    Most emotional
  • 60
    Most heartwarming
  • 60
    Best overall
  • 60
    Best performance

Episode Highlights

  • Pent-Up Emotions
    A poignant moment as one host shares tears of relief after a year of tension.
    “I realized I have had so much pent-up emotion waiting for a normal average day.”
    @ 03m 16s
    January 23, 2021
  • The Importance of Civility
    The hosts discuss the need for civil conversations amidst political disagreements.
    “Keeping it civil is important.”
    @ 13m 06s
    January 23, 2021
  • The Oversight Board's Role
    Facebook's oversight board is set to make a judgment on Trump's social media accounts.
    “Should Trump get his social media accounts back?”
    @ 23m 51s
    January 23, 2021
  • The Future of Big Tech
    Discussion on how tech companies are creating independent systems to avoid monopolistic scrutiny.
    “They're creating independence in the platforms they're building.”
    @ 25m 53s
    January 23, 2021
  • China's Influence on Big Tech
    Concerns about espionage and data security within big tech companies.
    “It's inconceivable that there's not at least one spy in big tech.”
    @ 37m 47s
    January 23, 2021
  • Biden's Infrastructure Bill
    Biden's infrastructure plan is expected to focus heavily on green energy initiatives.
    “I'm pretty sure it's going to have a lot of green energy stuff tied up in it.”
    @ 45m 07s
    January 23, 2021
  • Massive Stimulus Packages
    The U.S. has passed unprecedented stimulus bills totaling over $5 trillion since the pandemic began.
    “We've eclipsed anything you could have ever considered possible in terms of fiscal stimulus.”
    @ 45m 53s
    January 23, 2021
  • Inefficiencies in COVID Spending
    Concerns arise over the efficiency of COVID-related spending, particularly in vaccination efforts.
    “It's ridiculous how inefficient they're going to be at this.”
    @ 47m 22s
    January 23, 2021
  • Wealth Inequality and Technology
    The conversation highlights the growing wealth gap exacerbated by technology and economic structures.
    “The biggest problem that technology did was it drove a wedge and it created an extremely small owner class.”
    @ 54m 35s
    January 23, 2021
  • Gavin Newsom's Recall Effort
    California's recall effort against Governor Newsom is gaining momentum, with 1.5 million signatures needed.
    “They're getting about 200,000 signatures a week.”
    @ 01h 04m 29s
    January 23, 2021
  • Celebrity Candidates Expected
    The recall election may see numerous celebrity candidates, reminiscent of past political stunts.
    “We might have four Kardashians on there!”
    @ 01h 06m 10s
    January 23, 2021
  • Criticism of Newsom's Leadership
    Critics highlight Newsom's handling of the pandemic and lockdowns as reasons for his recall.
    “It's the hypocrisy of going to those restaurants and then making people not go to the beach.”
    @ 01h 07m 35s
    January 23, 2021

Episode Quotes

Key Moments

  • Celebration00:22
  • Civility in Discourse13:06
  • Manufacturing Revival44:09
  • Wealth Inequality54:35
  • Recall Effort1:04:09
  • Celebrity Candidates1:06:10
  • Vaccine Rollout Issues1:07:23
  • Cancel Culture Debate1:18:02

Words per Minute Over Time

Vibes Breakdown

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