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