00:00:00
is is jkl here i can't see him
00:00:05
maybe i've been blocked i don't know i'm
00:00:07
getting static on the left i can't hear
00:00:08
anything
00:00:09
i can't hear you why do the two fat guys
00:00:11
have to ruin everything
00:00:12
i mean get your [ __ ] together youtube we
00:00:14
have
00:00:25
[Music]
00:00:37
[Music]
00:00:42
if you'd like to skip the bestie twitter
00:00:44
drama and get right into the episode
00:00:46
jump to 20 minutes and 48 seconds
00:00:49
hey everybody hey everybody we've got a
00:00:52
great show for you today
00:00:53
what a treat this is going to be here at
00:00:55
the all in podcast
00:00:56
we cover everything technology business
00:00:59
market politics science and of course
00:01:01
the besties emotions and their feelings
00:01:03
i'm dave friedberg the king of canola
00:01:06
joining me today are the guys that used
00:01:09
to be besties
00:01:10
first joining us from berlusconi's
00:01:13
palace
00:01:14
the pied piper of spaxx himself
00:01:19
welcome you look great today thank you
00:01:22
and
00:01:22
uh from one of his many houses the uh
00:01:26
sas bully himself david
00:01:30
sax and of course
00:01:33
our former moderator and host the one
00:01:36
and only
00:01:37
the internet famous the bronx
00:01:40
bully jason calacanis everybody
00:01:44
j-cal welcome you're looking great you
00:01:46
look like you're ready to do a little uh
00:01:48
jabbing a hook so for those of you
00:01:50
joining us today that haven't been
00:01:51
following on twitter i'm sorry
00:01:53
did you get kermit the frog to host the
00:01:55
show i mean
00:01:56
jesus christ that opening was the worst
00:01:58
most painful thing i've ever heard
00:02:00
it it really was not very good okay well
00:02:02
welcome
00:02:04
sax and j cal not really feeling great
00:02:07
about this
00:02:07
you can't it's a failed experiment
00:02:09
already i thought the opening was good
00:02:10
good job free bird
00:02:11
i think you're doing well it's a [ __ ]
00:02:13
four of 10. stop pre-judging his
00:02:16
performance
00:02:17
it just began and interrupting already
00:02:19
stop interrupting
00:02:20
stop interrupting calcaneus so the
00:02:22
moderator is moderating and j
00:02:24
cal has to take the money the dreamers
00:02:27
and
00:02:28
block him i'm gonna mute him thank you
00:02:30
so gentlemen welcome
00:02:31
as we know over the past week there has
00:02:34
been a twitter feud between jason
00:02:36
and um david sacks and i'm going to give
00:02:39
you guys a little bit of this background
00:02:41
for those of you who haven't followed
00:02:42
online which i'm assuming is the vast
00:02:44
majority of you
00:02:45
but there's a twitter account called all
00:02:48
in stats and they publish an analysis
00:02:49
showing
00:02:50
that j cal has been talking a lot on our
00:02:53
podcast
00:02:54
and saks uh you know kind of quote
00:02:57
tweeted
00:02:57
and said you know here is statistical
00:02:59
proof of jason's piss-poor moderation of
00:03:02
the all-in-pod
00:03:03
j-cal if you were moderating correctly
00:03:05
you would be fourth place in airstein
00:03:06
enter airtime instead of tied for first
00:03:08
your job is to facilitate discussion not
00:03:10
dominate it stop interrupting and let
00:03:12
the grown-ups talk
00:03:14
j-cal immediately jumps up with a
00:03:16
response maybe you could start your own
00:03:18
pod with peter thiel and keith or boyce
00:03:20
and have tucker carlson moderate
00:03:22
sac says i know it's rough doing 10
00:03:24
years of this week in startups and never
00:03:26
getting to number one
00:03:27
then chamoth friedrich and i do it
00:03:28
effectively on the first date on the
00:03:30
first take
00:03:31
but this is why you need to stick to
00:03:32
your lane
00:03:34
and stop talking over us oh my god so
00:03:37
brutal sex
00:03:39
jay cal then responds with a niche
00:03:41
podcast about just
00:03:42
startups is never gonna be number one
00:03:44
it's not for a general audience like all
00:03:46
in
00:03:46
by design number two sure trash the guy
00:03:49
who has relentlessly supported you for
00:03:50
decades because you're obsessed with
00:03:52
your stats and forget about the quality
00:03:54
of the conversation
00:03:55
then j cal blocks david sacks on twitter
00:03:58
publicly
00:03:59
sax tells everyone jay cal blocked him
00:04:01
and this whole thing
00:04:03
escalates and snowball so the besties
00:04:06
have they broken up
00:04:08
are they gonna get back together is this
00:04:09
podcast gonna continue my mom sent me a
00:04:11
text this morning
00:04:13
has the pod disintegrated jason pulled
00:04:16
out question mark question mark question
00:04:17
mark
00:04:18
the drama ensues so gentlemen
00:04:21
um i leave it to you saks with your
00:04:23
opening remarks and then j-cal you may
00:04:25
respond
00:04:26
i'm here to moderate this opening of
00:04:28
today's all-in pod so we can kind of get
00:04:29
past this and hopefully get the besties
00:04:31
back together and continue our
00:04:32
conversations that i think many people
00:04:33
find valuable
00:04:35
and are super helpful and useful for us
00:04:37
and for our listeners
00:04:38
saks please well i mean i i can see on
00:04:41
jason's face that
00:04:42
he's he's hurt that by my my tweets
00:04:45
um you know i uh maybe he should go
00:04:49
first and explain what's so hurtful i
00:04:51
mean look the reality is about this show
00:04:53
that you know breaking balls is part of
00:04:56
it
00:04:56
we've been doing it for you know a year
00:04:58
and a half
00:04:59
and nobody does it more than jason and
00:05:02
then all of a sudden
00:05:03
you know he's on the receiving end of a
00:05:06
couple of mean tweets and he's like the
00:05:07
schoolyard bully
00:05:09
who finally gets popped in the nose and
00:05:10
goes running to the teacher
00:05:12
and he can't stop bawling so
00:05:15
you know where is it that somehow the
00:05:18
word piss-poor crossed a red line for
00:05:20
you
00:05:20
after all of the you know ball busting
00:05:23
you've been doing for the last year that
00:05:25
somehow that's out of bounds
00:05:26
and now you're gonna block me and
00:05:29
potentially end the show in our
00:05:30
friendship
00:05:31
so explain that to me big baby
00:05:38
all right number one
00:05:41
i want to talk about the statistics in
00:05:43
my role
00:05:45
on my perception of you david is that
00:05:48
you got a taste of
00:05:52
fame and celebrity and it's gone to your
00:05:54
[ __ ] head
00:05:56
and you're out of your ego is out of
00:05:58
control
00:06:00
you now have stopped doing your job
00:06:02
every day
00:06:03
and you are obsessed with your
00:06:05
statistics and how you're perceived on
00:06:07
the pod
00:06:08
as seen by your obsession
00:06:11
and your bromance with henry or harvey
00:06:15
bell cast or whatever you're sitting
00:06:17
there obsessing over what percentage
00:06:20
each of us talk none of the other
00:06:21
besties are reading all in stats
00:06:24
or getting obsessed with henry belcaster
00:06:26
and how they're perceived on the pod
00:06:29
you have taken a championship show
00:06:32
which i pulled together with my decades
00:06:36
of experience in team
00:06:37
as the point god i am the chris paul
00:06:41
of moderating the reason this show is
00:06:44
number one
00:06:46
is because i created a super team
00:06:50
there are four people on this podcast
00:06:52
who bring a lot to the table
00:06:54
and you have asked for decades for air
00:06:58
cow i will not
00:06:59
pull out a list but the time that you
00:07:03
were going to get cancelled because of b
00:07:06
and the other time that your company was
00:07:08
in the beep
00:07:10
because the beep was investigating it
00:07:13
you called air cow you called an air cow
00:07:17
you can't deny it and nobody
00:07:21
has benefited more from my skills in
00:07:24
media
00:07:25
than you are are you speaking in an
00:07:28
accent
00:07:29
i'm not speaking in an accident i'm
00:07:31
getting uh this is when i get upset
00:07:33
what he's getting for he's getting for
00:07:34
clubs he's controlling it okay i'm just
00:07:36
bringing
00:07:37
the ball up court and i [ __ ] pass the
00:07:40
ball to everybody
00:07:41
i am white chocolate on this team i am
00:07:43
the professor i am chris paul
00:07:46
okay and i pass the ball now if you want
00:07:49
to be
00:07:50
a point guard like me and throw crisp
00:07:52
passes that make the audience
00:07:54
laugh and make them cheer and bring down
00:07:57
the whole goddamn stadium
00:07:59
well sometimes i'm going to do a no-look
00:08:00
pass it's going to hitch in the back of
00:08:01
the head
00:08:02
or it's going to bounce off you can't
00:08:04
[ __ ] cry about it
00:08:05
constantly david and if you're looking
00:08:07
at the minutes
00:08:09
i have to read the story and prep the
00:08:12
story so i can put it in your lap
00:08:15
which i love to do i love my role here
00:08:19
and you're taking my min account which
00:08:21
is at least two-thirds moderation
00:08:23
and you're saying that's indicative of
00:08:25
me being pissed poor now if it's all a
00:08:27
goddamn joke that's fine but you're
00:08:29
messing with my business
00:08:31
my business is podcasting and performing
00:08:34
if you got a problem with me as the
00:08:36
moderator
00:08:37
you have my [ __ ] phone number you can
00:08:39
call me
00:08:41
but don't go out and start some fight
00:08:43
with me and then go start hanging out
00:08:44
with henry belcaster
00:08:46
when i'm your boy okay and then
00:08:48
everything with you
00:08:49
is about your call-in clubhouse killer
00:08:53
and we've got to move the pond to that
00:08:55
you're getting out of control david you
00:08:58
need to realize
00:08:59
we started a podcast that went to number
00:09:01
one instantly
00:09:02
and be grateful about that and stay the
00:09:05
course
00:09:06
the end i'm done well all right good all
00:09:08
right so can i respond
00:09:10
so first of all j cal i agree you
00:09:13
put the the super team together for this
00:09:15
pod you're an indispensable part of it
00:09:18
i'm not questioning that you know i
00:09:20
don't think we should
00:09:21
i don't think well let me come to let
00:09:23
the adults talk let me first uh
00:09:25
let me i'm actually saying some positive
00:09:27
things about you before i get into my
00:09:28
uh critique okay so look
00:09:31
you deserve credit for putting this
00:09:33
thing together along with with chamoth
00:09:35
uh
00:09:36
it wouldn't be the same without you you
00:09:37
do bring an element of
00:09:39
entertainment to it uh lord knows if it
00:09:42
was just freeburg moderating all the
00:09:43
time it'd probably be extremely boring
00:09:45
so um look i although we're gonna give
00:09:49
him a chance today so who knows
00:09:50
um but rough start and it's not that i
00:09:53
was angry or upset or concerned about my
00:09:55
air time or any of that stuff
00:09:57
i was frustrated okay because your
00:09:59
moderation
00:10:01
i have a couple of um concerns about her
00:10:03
or
00:10:04
i guess complaints okay one is that you
00:10:07
do tend to interrupt and i'd say you
00:10:09
interrupt not true
00:10:10
more than the others false okay and
00:10:12
specifically not true
00:10:14
let's talk about the issue the the issue
00:10:17
where this came up was
00:10:18
eric adams issue last pod okay so
00:10:21
you didn't even go to me this this issue
00:10:23
the eric adams issue is all about the
00:10:25
crime issue
00:10:26
what the audience doesn't know is that
00:10:28
you went to chamath like three times
00:10:30
then you moved on and we had to come
00:10:31
back i said no listen i raised my hand
00:10:33
to get back into the conversation we
00:10:35
edited that part out
00:10:36
you skipped over me completely i don't
00:10:38
know how that was good
00:10:40
passing where was the dish okay to me
00:10:43
okay let me explain to you can i respond
00:10:45
to that sure
00:10:47
you've got three people on the team who
00:10:49
can score i come down the court
00:10:52
i pass it sometimes there's two open
00:10:54
guys
00:10:55
you're the guy who was open who didn't
00:10:57
get the pass
00:10:58
and now you're walking down the court
00:11:00
complaining no
00:11:01
instead of keeping your head in the game
00:11:03
this would be like not going to freeburg
00:11:05
on a science issue all right sorry i
00:11:07
understand
00:11:08
any chance for you to defend the cops
00:11:12
beating up criminals i understand that's
00:11:14
your wheelhouse no time when it comes to
00:11:16
that i'll make sure i it
00:11:17
would it would be it would be a concern
00:11:19
i agree with you i agree with you it's
00:11:20
an oversight
00:11:21
i can't hit every perfect pass you're
00:11:23
expecting perception so then
00:11:25
it's a missed pass and now you're upset
00:11:27
about it okay okay so then
00:11:29
so then i basically say listen i want to
00:11:31
talk to this issue i have three points
00:11:32
to make
00:11:33
i'm not through point number two before
00:11:35
you're interrupting me and taking the
00:11:36
ball away
00:11:37
the specific reason why i said i have
00:11:40
three points is to telegraph to you
00:11:42
don't interrupt me [ __ ] i got three
00:11:44
points to make okay what do you do you
00:11:46
cut me off in the middle of point two
00:11:47
how is that good moderation i don't
00:11:49
think you do that to chamof
00:11:51
or even freeburg this really is about
00:11:53
this really is about
00:11:54
chamath versus you and my relationship
00:11:56
with each other i love you both
00:11:59
the reason why i brought up the all-in
00:12:01
stats okay is not cause i'm concerned
00:12:03
about my air time but but to show you
00:12:04
i'm a little concerned
00:12:05
no because i i they broke down that i
00:12:08
was like fourth in their time and so the
00:12:10
only point about that
00:12:11
is why are you giving me the hook when
00:12:13
i'm not talking too much
00:12:14
if i were talking too much if i were
00:12:16
monologuing it'd be a whole different
00:12:18
story
00:12:19
but you're yanking the mic away from me
00:12:20
in the mid sentence before i even had a
00:12:22
chance to finish
00:12:23
and there's and there's one more thing
00:12:24
okay which is as soon as i bring up any
00:12:26
concern
00:12:27
with the moderation where do you go you
00:12:30
start calling me
00:12:31
tucker you know you start labeling me in
00:12:33
this way
00:12:34
okay it's like just like a year dinner
00:12:37
with tucker in the world
00:12:38
you're proving my point where do you go
00:12:40
where are you joke
00:12:42
yes but why i'm trying to keep the show
00:12:44
entertaining and keep it moving
00:12:45
part of keeping the show entertaining
00:12:47
moving is keeping you guys from
00:12:48
monologuing
00:12:49
i have to cut you off and make jokes a
00:12:52
year and a half ago
00:12:53
at the beginning of the pod we had to
00:12:54
have the last time we had a
00:12:56
sort of session like this it was because
00:12:58
you kept trying to paint me
00:13:00
as the trump supporter which is not my
00:13:02
agenda okay now
00:13:03
did you vote for trump now you're trying
00:13:05
to hang did you tuck her label on me
00:13:07
why aren't you saying hey let's hear
00:13:09
from george will let's hear from william
00:13:10
buckley
00:13:11
the reason why you're choosing those
00:13:13
labels is because you know
00:13:15
they are anathema to most people in
00:13:17
silicon valley and you're trying to
00:13:19
stigmatize me with them
00:13:20
no that is you're trying to are you
00:13:22
reading from your notes
00:13:23
are you reading from you're trying to
00:13:24
hang that album over my neck
00:13:27
okay and that is you're trying to
00:13:29
anatomize me in
00:13:30
in the in the view of most people
00:13:32
silicon valley you're calling that's not
00:13:34
what i'm trying to do
00:13:34
i'm trying to tell me but you are
00:13:36
causing the audience
00:13:38
to pre-judge my message my points before
00:13:40
i've even had the chance to
00:13:41
see what i'm trying to do by attacking
00:13:43
i'm trying to make a joke
00:13:45
of the left to me okay the result of
00:13:47
that is the audience is going to
00:13:48
prejudge what i have to say
00:13:49
and probably a third of the audience
00:13:51
will never want to hear what i have to
00:13:52
say because you've pre-labeled
00:13:54
and pre-judged me that is a serious
00:13:56
problem and that is [ __ ] with my
00:13:57
business
00:13:58
that is [ __ ] with my business a lot
00:14:00
more a lot more
00:14:01
than me calling out your shitty
00:14:03
moderation on one show oh sorry no it is
00:14:06
shitty moderation oh okay i thought it
00:14:08
was great
00:14:09
now we're back to a big shitty
00:14:10
moderation let me ask you you know what
00:14:12
you're doing did you know what
00:14:13
you're doing did you have photography
00:14:15
you know what you're doing have you had
00:14:16
dinner with tucker answer the question
00:14:19
i'm going to mute both of you now okay
00:14:20
i'm in the moderator do you want to
00:14:22
weigh in on these two idiots and talk a
00:14:24
little bit about how we can do this show
00:14:25
forward and at this point i'm thinking
00:14:26
about
00:14:27
vetoing the publication of the show so
00:14:29
we could just have this conversation
00:14:31
offline
00:14:31
this was this is so [ __ ] pod because
00:14:33
this is just this was paint this was
00:14:35
this was so stupid nick edit all this
00:14:36
nonsense and
00:14:38
make it 30 seconds and move on hey guys
00:14:41
this is a really important powerful
00:14:44
thing that we accidentally stumbled into
00:14:47
i'll make two points david does get
00:14:49
labeled
00:14:50
and i don't think it's fair and jason
00:14:52
does an excellent job of moderating
00:14:54
and sometimes i think that jason does
00:14:56
get excited and in
00:14:58
getting excited you know he's also not
00:15:00
just there to moderate he's there to
00:15:02
contribute as well
00:15:03
and so i think that if you look at the
00:15:06
the number of minutes as a guide it's
00:15:08
not going to be accurate because he does
00:15:10
have two jobs to do whereas the rest of
00:15:11
us only have one
00:15:13
and david does bring an enormous amount
00:15:16
of clarity to what he says
00:15:18
in a very fair way and it is unfair to
00:15:20
him that he gets
00:15:22
basically slathered with uh here's the
00:15:24
crazy guy on the right
00:15:25
so i think what i would just say is just
00:15:28
let's just tone it the [ __ ] down and
00:15:30
calm down
00:15:31
okay we're at a million [ __ ] people a
00:15:33
week we could be at 10 million people a
00:15:35
[ __ ] week and we could [ __ ] own
00:15:38
the distribution of our ideas to
00:15:40
millions and millions of people
00:15:42
let's just stay the course and calm the
00:15:43
[ __ ] down well i i agree with all that
00:15:46
actually
00:15:46
i i agree i'm 100 in agreement i want to
00:15:49
address the labeling issue i want to
00:15:51
address the legal issue
00:15:52
i am joking nine out of ten times when i
00:15:54
talk about trump
00:15:55
because it's hilarious and your
00:15:57
relationship with tucker i think it's
00:15:59
hilarious that you're part of the keith
00:16:00
reboy
00:16:02
and and teal thing and and i don't think
00:16:03
it's damaging for your business at all
00:16:05
and i think
00:16:05
people are telling me i'm purple viewed
00:16:07
we're moving to the center here
00:16:09
so i believe that we're doing something
00:16:10
noble by bringing all these voices
00:16:12
together
00:16:13
it's all a big joke and you know what i
00:16:15
don't care what you say about me on
00:16:16
twitter
00:16:17
i know i'm good at what i do there's
00:16:19
nothing you could say that can change
00:16:20
that why'd your accident change
00:16:24
i i think in general you are good at
00:16:25
what you do and i and i
00:16:27
and the reason why two of the top 10
00:16:30
tech podcasts
00:16:31
go open at your [ __ ] podcast player
00:16:33
don't tell me to get my [ __ ] shoe
00:16:34
shirt
00:16:36
number four and number eight no nobody's
00:16:39
saying that so i think i think what
00:16:40
what david's literally what he said
00:16:42
that's literally what he said what he's
00:16:44
doing right now is showing why i had to
00:16:45
tweet which is he won't take a note
00:16:47
i can't tell the guy hey listen you
00:16:50
gotta know for me
00:16:51
it's not gonna happen on twitter you got
00:16:53
my [ __ ] phone number well it doesn't
00:16:54
happen in private either
00:16:55
we know that you could [ __ ] call me
00:16:58
oh really you're gonna take a note in
00:16:59
private chat with you
00:17:01
i've tried we've had this conversation
00:17:03
before we had this specific conversation
00:17:05
about the trump thing a year ago
00:17:07
we haven't talked about trump in six
00:17:08
months you're back to all your bad
00:17:10
habits
00:17:12
can we just hear an apology from one to
00:17:14
the other and tell them yeah yeah
00:17:16
i'm absolutely willing to hear sax's
00:17:17
apology tell him what you appreciate
00:17:19
about him and what you like about him go
00:17:20
ahead yeah
00:17:21
go [ __ ] christ is this therapy all
00:17:23
right i unblocked [ __ ] sacks and i'm
00:17:25
following him enough
00:17:26
thank you move on we move forward
00:17:28
apologize to each other all right
00:17:29
sorry you tweeted that [ __ ] sex i'm
00:17:31
sorry
00:17:33
david apologize to him let's just move
00:17:35
on jason tell sacks you're sorry for
00:17:37
labeling him and
00:17:38
you know you'll be more conscientious in
00:17:40
the future please i'm sorry
00:17:42
that i brought up your relationship with
00:17:44
tucker and that i labeled you
00:17:47
a trump disciple
00:17:51
i don't even need an apology i just want
00:17:53
him to recognize me too so i'm trying to
00:17:55
be the bigger man [ __ ] it i take it back
00:17:58
okay i unblocked you and you're followed
00:18:00
i unblocked you and you're followed
00:18:01
that's enough sex
00:18:02
his feelings were hurt by you telling
00:18:04
him that his podcast sucks and
00:18:07
piss poor piss-poor okay look you asked
00:18:10
you asked me to have ten of your
00:18:11
founders on the podcast in the last two
00:18:12
years i counted your team
00:18:14
is in the [ __ ] mix trying to get
00:18:16
people booked on the show we're not
00:18:17
gonna we're not gonna keep it going
00:18:19
you've benefited from this relationship
00:18:21
as well so thank you for this i never
00:18:23
said i didn't
00:18:24
thank you all i've ever said is thank
00:18:25
you to you all right
00:18:27
we good look my frustration
00:18:30
over your moderation boiled off into a
00:18:32
couple of tweets
00:18:33
last week i did not mean to hurt your
00:18:35
feelings i was just trying to give you a
00:18:37
note
00:18:38
okay if you would take the notes in
00:18:39
private i would give you them to you in
00:18:41
private
00:18:42
i do think that overall you're a great
00:18:44
moderator
00:18:45
your contribution to the show is
00:18:48
absolutely necessary and essential
00:18:50
never disputed that i think we should
00:18:52
keep doing the show
00:18:54
um i didn't expect you to block me
00:18:56
honestly i didn't expect your feelings
00:18:58
to be so hurt by what i said and um
00:19:01
so yeah look i apologize for that all i
00:19:03
wanted to do was give you a note
00:19:05
and i would appreciate if you could try
00:19:07
and respect my note
00:19:08
not mischaracterize it i think you know
00:19:10
what i'm saying right
00:19:12
i just want the chance to be able to
00:19:13
present my views
00:19:15
without the audience prejudging them
00:19:16
because you know
00:19:18
that certain labels will not go over
00:19:20
well with our audience
00:19:21
okay it'd be like introducing chamoth as
00:19:24
the michael milken of spaxx
00:19:26
okay there is that out
00:19:29
no i mean i'm not saying he is
00:19:31
collaborating
00:19:33
no i'm saying it would be as if you did
00:19:36
that right you understand what you've
00:19:37
been doing
00:19:38
if you labeled him that way i don't
00:19:40
think that is a fair label
00:19:42
in fairness i thought the labeling and
00:19:44
the joking about you being the token
00:19:45
republican
00:19:46
was a meta joke about the fact that
00:19:48
silicon valley doesn't have too many of
00:19:50
you
00:19:50
and teals and reboys et cetera there's a
00:19:52
small i think the whole point of what we
00:19:54
were trying to say is silicon valley's
00:19:55
heads up their ass
00:19:57
i agree so maybe so maybe the problem
00:19:59
maybe the problem we've we've identified
00:20:01
is
00:20:01
all these left-leaning people are just
00:20:03
sniffing their own balls
00:20:04
basically running to a cliff sweating so
00:20:08
yeah a lot of my views like on free
00:20:09
speech are the old
00:20:11
center left exactly and now you're for
00:20:13
universal healthcare look at you
00:20:15
i haven't moved the whole world's gone
00:20:17
crazy i mean
00:20:18
everyone supported free speech until
00:20:20
five minutes ago okay that's what i went
00:20:21
on tucker to discuss you were a free
00:20:23
market about uh
00:20:25
education and you were free market about
00:20:27
about health care and now you're like i
00:20:28
mean we should have health care and
00:20:29
safety
00:20:29
i i am i am a believer in in markets all
00:20:32
right jason let's start go
00:20:33
let's [ __ ] start the shot three two
00:20:35
hey everybody hey everybody the all-in
00:20:37
podcast is back
00:20:38
besties unblocked with us again the rain
00:20:41
man himself
00:20:43
david sachs and david freeburg the queen
00:20:46
of
00:20:48
and from his italian
00:20:51
hideaway gallivanting in
00:20:55
italy chamoth paulie hepatia the
00:20:57
dictator
00:20:58
big news for besties this week robin
00:21:01
hood
00:21:02
has filed their s1 and paid a fin
00:21:06
refined
00:21:06
70 million dollars for outages and
00:21:08
misleading
00:21:09
customers multiple days of outages back
00:21:11
in march 2020 we talked about here
00:21:14
and poor communications around options
00:21:16
trading risks
00:21:18
robin hood's s1 highlighted some
00:21:21
extraordinary
00:21:22
uh growth during that period as we
00:21:24
discussed on the pod
00:21:27
18 million funded accounts and they're
00:21:30
on a two billion dollar run rate 522
00:21:33
million dollars in revenue in the first
00:21:34
quarter up 4x
00:21:36
and uh monthly active users have more
00:21:39
than doubled 8.6 million accounts to
00:21:41
17.7 million
00:21:43
uh just for in the last year revenue is
00:21:45
up 300 percent
00:21:47
any thoughts on robin hood's s1
00:21:50
obviously i'm an interested party
00:21:52
it's the largest fine ever i think of
00:21:54
this type
00:21:55
but on the other end yeah yeah so it
00:21:57
should be a black eye for the company
00:21:59
but the reality is
00:22:00
that they're happy to pay the fine and
00:22:01
just move on so they don't have this
00:22:03
issue hanging over their heads anymore
00:22:04
and now they're going to be able to
00:22:06
ipo at like a 50 60 70 billion dollar
00:22:08
valuation
00:22:10
and so for them it's just sort of cost
00:22:11
of doing business i think there's
00:22:12
something a little bit
00:22:14
off about that but um that's kind of how
00:22:16
it works
00:22:17
freeberg anything i mean congrats to you
00:22:19
jake how looks like you're gonna
00:22:20
do really well with this deal huh it
00:22:22
will return
00:22:24
roughly this one dl will do three or
00:22:27
four times
00:22:28
the value of the first fun the launch
00:22:30
fund one which was
00:22:31
uh 11 million did you invest in the seed
00:22:33
round or the a or what round did you
00:22:35
invest in
00:22:36
i think it was the seed round um and so
00:22:38
what's your multiple going to be
00:22:40
on a 50 billion dollar market cap you
00:22:42
know
00:22:43
uh it would be 500x
00:22:47
amazing amazing congrats big boy yeah
00:22:51
it's a congrats jake allen i'm happy to
00:22:52
see that you're successful
00:22:54
your success is finally catching up to
00:22:56
your ego and so i think
00:22:58
here we go
00:23:04
your net worth is catching up to your
00:23:06
weight size congrats oh my god
00:23:09
uh well actually between this and the
00:23:11
composition
00:23:12
uh i'm uh you know listen it's a long
00:23:15
way to go before we distribute obviously
00:23:17
but that first fund i did which came
00:23:19
after the scouts fun my sequoia scouts
00:23:21
portfolio my only advice to you jason is
00:23:22
talk talk to a few seasoned gps like
00:23:24
gurley
00:23:25
fred wilson and figure out the right
00:23:27
distribution strategy one of the biggest
00:23:28
things that i see these folks do is
00:23:30
early-stage venture investors thinking
00:23:32
that they're public market investors
00:23:35
trying to time the market trying to
00:23:36
figure out how to do distributions and
00:23:38
it never works
00:23:39
which means do you hold the shares for
00:23:41
another year or two
00:23:43
or you distribute them i would
00:23:44
distribute that immediately book the win
00:23:46
move on
00:23:47
yeah you know it's interesting a lot of
00:23:49
the top firms that i'm in are
00:23:50
holding their shares and i i had a firm
00:23:53
that had uh
00:23:54
square and they held some number of them
00:23:56
until it's 7xed and then distributed so
00:23:59
i guess technically they get to book
00:24:00
that win
00:24:02
what are your thoughts on that sax of
00:24:04
when to distribute and how are you doing
00:24:05
in your fund
00:24:06
yeah i mean it's a good question um the
00:24:09
the reality is
00:24:10
that you know let's say that you're in
00:24:12
your four or five a 10-year fund you
00:24:14
could hold the shares for another five
00:24:16
years
00:24:17
and if the shares go up over that five
00:24:19
year period you'll
00:24:20
you'll do better so i think the question
00:24:23
is on irr
00:24:24
your your numbers will look better well
00:24:26
i mean you're you're compensated on the
00:24:28
absolute amount of
00:24:29
return that you generate and so it might
00:24:31
happen if you distribute the shares and
00:24:33
then if you're in carry and you just
00:24:34
hold the shares you'll realize the same
00:24:36
gains
00:24:36
you know you're not saying well it
00:24:38
depends what happens to the stock price
00:24:39
i guess i guess what i'm going to do
00:24:40
but hold on a second if the stock were
00:24:41
to go 10x and you get 20
00:24:43
of those shares if there were 100 shares
00:24:45
you had 20 if it 10x you're still
00:24:46
getting 20 percent right shamaf
00:24:48
so it nets out to the same if you hold
00:24:50
the shares yourself personally this is
00:24:51
why
00:24:51
i think that if you're in the business
00:24:53
of running uh a multi-fund
00:24:55
business i think you're better off
00:24:57
generally and i think again if you talk
00:24:59
to the best firms out there
00:25:02
they typically will not try to guess
00:25:04
what's going to happen in the public
00:25:05
markets they distribute and they move on
00:25:07
to their next fund
00:25:08
um and then because you have to remember
00:25:10
the irrs you know you go through these
00:25:12
rough patches it decays quickly
00:25:14
and all of a sudden something that looks
00:25:16
great can start to look not so great
00:25:18
and the example of that might be
00:25:19
snowflake or something going down after
00:25:22
it went public
00:25:22
and if you had distributed it you would
00:25:24
have booked the win at that high
00:25:25
multiple
00:25:26
yeah and then then you're thinking to
00:25:27
yourself wow i hope it goes back up and
00:25:29
then you're like well when do i
00:25:30
distribute it's all
00:25:31
these are all not things that venture
00:25:33
capitalists should be engaged in they
00:25:34
should be there to help build the next
00:25:36
the next david versus goliath
00:25:37
i think the the count argument to that
00:25:39
is if you really believe in the company
00:25:41
and think you
00:25:41
understand it better than the public
00:25:43
markets do or or because you've been on
00:25:45
the board
00:25:45
and you have information you know if you
00:25:48
hold it for another
00:25:49
yes there's gonna be ups and downs but
00:25:50
let's say that you plan to hold it for
00:25:52
another four or five years
00:25:53
um yeah you'll still get the same 20 25
00:25:56
carry but
00:25:57
um the point at which that carry will
00:25:59
crystallize would be at like a much
00:26:00
higher
00:26:01
level and so essentially you're
00:26:03
preventing your lp's from selling
00:26:04
is what you're doing and so you may get
00:26:06
an extra turn of your fun by doing that
00:26:09
how do we feel as lps david freeburg but
00:26:12
there's sorry there's also
00:26:13
isn't there like a um i'm just trying to
00:26:15
pull up the goldman sachs report they
00:26:17
did in 2019
00:26:19
where they analyzed 4 500 ipos over a
00:26:22
25-year period
00:26:24
and i think that and i could be wrong on
00:26:27
this but if i remember
00:26:28
some summary of this i'm trying to find
00:26:29
it so i can't find it right now um
00:26:31
but that they basically highlighted that
00:26:34
ipos as an index generally outperformed
00:26:37
the market over
00:26:38
some period of time whether it's one
00:26:39
year or three years and so
00:26:41
if you have access to those ipo shares
00:26:43
assume you're a venture investor
00:26:44
you can beat the smp by 10 15 points
00:26:48
just generally without having any
00:26:50
thought about the business itself or the
00:26:51
company
00:26:52
itself um and you know participate in 20
00:26:55
carry on the upside from there or 25
00:26:57
carrying the upside from there
00:26:59
um and so generally the rule of thumb
00:27:01
becomes well you shouldn't distribute
00:27:02
right away you should hold is that not
00:27:04
kind of a common dogma amongst gps
00:27:07
nowadays
00:27:08
well look at square look at square i
00:27:10
mean square at
00:27:11
all like most of the appreciation
00:27:13
happened in the public markets i
00:27:15
think sequoia held on to their square
00:27:17
shares did way way better
00:27:19
because nobody sold effectively for
00:27:21
several years
00:27:22
and the best firms do this right i mean
00:27:24
like you you hear from gurley and others
00:27:26
that
00:27:26
you know they hold onto these shares for
00:27:28
years
00:27:29
and you know a good business going
00:27:31
public
00:27:33
has a much better chance of performing
00:27:35
well as a public company than you know
00:27:37
just tracking the s p
00:27:38
uh after an ipo regardless of the
00:27:40
valuation it exits at
00:27:42
well how do we feel as lp's chamath your
00:27:44
lp's in a lot of terrible women
00:27:46
15 terrible no offense to any gp out
00:27:50
there but i don't think they're as good
00:27:51
of a public market investor as i am so
00:27:52
give me the shares
00:27:54
i'll manage it myself uh and get out of
00:27:56
the way
00:27:57
um i i give money to a lot of to your
00:28:00
point
00:28:00
a lot of gps because i want private
00:28:03
market exposure
00:28:04
i don't want them speculating in the
00:28:06
public markets for me i do that for
00:28:08
myself
00:28:09
and so i would rather just get the
00:28:10
shares and make my own decision
00:28:12
um you know a lot of foundations for
00:28:14
example are in this situation where
00:28:16
they're there to fund programs
00:28:18
so if they have a you know multi-hundred
00:28:19
million dollar position in a great
00:28:21
company
00:28:22
and they can't fund a program or the you
00:28:25
know a hospital system can't do what
00:28:26
they need to do because some gp is
00:28:28
speculating in the public markets i
00:28:29
think it's insane
00:28:32
so give you give give give the lps the
00:28:34
money and move on it's not your job
00:28:37
otherwise you should run a generalized
00:28:39
fund and both people don't because they
00:28:41
can't
00:28:42
generally how do you guys when you are a
00:28:44
large owner in a company that goes
00:28:46
public
00:28:48
or just say the pool of venture
00:28:49
investors or owners in a company that
00:28:51
goes public
00:28:52
and the lock-up is expiring you know
00:28:54
typically six months after the ipo and
00:28:56
you can now distribute your shares to
00:28:57
your lps
00:28:58
do those um you know investors take note
00:29:02
of or
00:29:02
have concern about the impact it might
00:29:05
have on the stock price when they're
00:29:06
making those distribution decisions
00:29:07
typically
00:29:08
i think they think about that but a lot
00:29:10
of these lps particularly the
00:29:12
non-profits
00:29:13
they're forced day one sellers the
00:29:15
minute that they get the stock they're
00:29:16
just putting it in like as soon as the
00:29:17
stock gets distributed everyone's
00:29:18
selling and the stock takes a hit right
00:29:20
and yeah
00:29:20
you know what there's something
00:29:22
happening i mean uh this is
00:29:25
speculation um that i don't have so just
00:29:28
you know take it as that but my
00:29:30
understanding was some investment banks
00:29:32
went to
00:29:33
the uh and chamath might know the
00:29:35
background on this went to some of the
00:29:37
major lps in the world i'll leave it at
00:29:39
that
00:29:40
and said hey you have a position in i
00:29:42
don't know this
00:29:43
cab company um it's going public it's
00:29:46
fully valued or it's very well valued
00:29:48
would you like to collar your shares
00:29:50
before that and we will take them off
00:29:53
your hands
00:29:54
uh and and and lock you into a certain
00:29:56
price for some percentage of it
00:29:57
basically end running the gp's decision
00:30:00
making process
00:30:02
of course there's there's a lot of that
00:30:03
that happens this is why i'm saying i
00:30:04
think the gp is better off if you're in
00:30:06
the
00:30:06
venture fund business be in the venture
00:30:08
fund business do a great job at that
00:30:10
raise funds distribute cash do what
00:30:12
you're supposed to do but please don't
00:30:13
try to do some it's kind of like asking
00:30:15
you know the firemen to also operate on
00:30:17
you no i don't want that
00:30:19
take me to the hospital and let the
00:30:20
doctor do the job i think it's a very
00:30:22
valid perspective i think it's probably
00:30:23
the baseline that vcs should operate
00:30:25
from but i do think there are
00:30:27
exceptions where if the vc's been on a
00:30:29
company board for a while it feels like
00:30:30
they have
00:30:31
they understand the company better than
00:30:32
the public markets especially during the
00:30:34
first two years
00:30:35
as a public company when the markets can
00:30:37
be really choppy and the company's
00:30:39
trying to find its level and people
00:30:40
don't really understand it i think there
00:30:42
is an argument for
00:30:44
the vc having expertise in in that
00:30:46
initial public run then they might be
00:30:48
doing their lp's a favor
00:30:50
by holding but but look i i think tomas
00:30:52
point is well taken
00:30:54
also uh companies are going public
00:30:57
earlier so this is going to become a
00:30:59
bigger issue because
00:31:00
it's an easy decision in year 11 if you
00:31:03
were an uber
00:31:04
investor and airbnb investors say okay
00:31:06
it's been 11 years we're going to give
00:31:07
you your shares
00:31:09
but if you're in year five and the
00:31:10
company goes out so early
00:31:12
you know you could make an argument hey
00:31:14
maybe we hold it for two or three years
00:31:15
just going back on the previous topic
00:31:16
jkl the um
00:31:18
the finra news on robinhood right so
00:31:20
finra just
00:31:21
so everyone understands is not a
00:31:23
government regulator
00:31:25
it's a entity yeah it's called a
00:31:26
self-regulatory organization
00:31:28
and these sros are basically they have a
00:31:31
board and a you know a bunch of people
00:31:32
that run them
00:31:33
but they're pooled and managed by all
00:31:35
the participants the private
00:31:37
participants in the market so goldman
00:31:38
sachs and morgan stanley jp morgan and
00:31:40
all the banks
00:31:41
they are all part of the finra sro and
00:31:44
so the way that these sros are set up is
00:31:46
to avoid government regulation and to
00:31:48
avoid government
00:31:49
intervention in markets and allows the
00:31:51
markets to effectively self-regulate
00:31:53
themselves
00:31:54
in a way that everyone in the market is
00:31:56
kind of keeping an eye on each other and
00:31:57
making sure that this is
00:31:58
being taken care of and i think one
00:32:00
thing to take note of from this fine
00:32:03
is that it telegraphs that finra and the
00:32:05
markets in general the market
00:32:06
participants in general
00:32:08
may be rather concerned and rather
00:32:11
worried
00:32:12
about government intervention um in some
00:32:14
of these new markets and emerging
00:32:16
fintech practices
00:32:17
because they wanted to say look we put
00:32:19
the gauntlet down on robin hood we made
00:32:20
them pay the biggest fine ever we made
00:32:22
them pay 70 million dollars
00:32:24
stay away we're taking care of it
00:32:26
because the concern everyone's had is
00:32:27
that aoc and elizabeth warren and a
00:32:29
bunch of people on capitol hill
00:32:30
are waving flags saying we need to step
00:32:32
in we need to regulate these companies
00:32:34
we need to regulate these practices we
00:32:35
need to protect consumers
00:32:37
and so this fine really signals that the
00:32:39
market is a bit concerned
00:32:42
that the government is going to come in
00:32:44
and start trying to tell fintech
00:32:45
companies how to practice and how to
00:32:46
operate and generally tell
00:32:48
all market company you know market
00:32:50
participants how to operate
00:32:52
which is a very scary prospect for them
00:32:54
so to me this was really this
00:32:55
this was really big news about what
00:32:57
telegraphs the backdoor conversations
00:32:59
are you know
00:32:59
that are going on with market
00:33:01
participants right now what you're
00:33:03
almost saying is that this is a benefit
00:33:05
to robin hood to pay the largest fine
00:33:07
because it it says to the
00:33:09
you know to the politicians look we've
00:33:10
already been punished
00:33:12
in this you know maximal way you don't
00:33:14
need to layer it on top
00:33:15
so in a way it's better for robin hood
00:33:17
that they paid 70 million instead of 10
00:33:19
million
00:33:20
yeah and it's not it's not by the way
00:33:21
it's not even for robin hood i think all
00:33:23
the market participants jp morgan
00:33:24
goldman sachs they all have huge
00:33:26
you know tech teams and they all have
00:33:28
acquired fintech companies
00:33:30
and they are all trying to go digital
00:33:32
and everyone is worried about the
00:33:33
government intervening
00:33:35
and changing how this business is
00:33:36
transforming because as soon as the
00:33:38
government gets involved it's going to
00:33:39
slow down the transformation it's going
00:33:40
to you know make things much more
00:33:42
challenging
00:33:42
and i think that everyone's trying to
00:33:44
keep the government at bay while the
00:33:45
great digital transformation of markets
00:33:47
is underway
00:33:49
um and and i think that's like the
00:33:50
biggest signal from this this finra fine
00:33:53
and there's there's some interesting
00:33:56
nuances there that they brought up
00:33:57
something like the confetti so when you
00:33:59
buy something
00:34:00
on robinhood it used to explode confetti
00:34:04
gamification they're like oh we're going
00:34:05
to take that out
00:34:06
and you know if you go to vegas they've
00:34:08
got bells and whistles going off
00:34:09
everywhere when you place a bet
00:34:11
and so it is a little bit of window
00:34:13
dressing i think it's also interesting
00:34:15
that you bring up the self-regulatory
00:34:16
organizations there's two other
00:34:18
equivalents for people who are thinking
00:34:20
about this the mpa
00:34:21
motion picture association which was
00:34:23
formed back in 1922 because people had
00:34:26
the same fear about movies
00:34:28
and valentini i think was the the guy
00:34:31
who really
00:34:32
uh changed uh how movies were perceived
00:34:35
in the pg-13 era
00:34:36
allowing a lot more violence terminator
00:34:38
those kind of movies
00:34:40
and then you had a similar thing happen
00:34:42
in the video game industry
00:34:44
in 90s does robinhood still have like
00:34:47
the lawsuits with like
00:34:49
uh massachusetts uh there's like 10
00:34:52
other lawsuits class actions etc
00:34:54
about um no no but these are more like
00:34:57
with with government entities right like
00:34:58
like didn't massachusetts try to stay
00:35:00
deter state attorney general
00:35:02
yeah something like that i think right
00:35:03
yeah i don't know
00:35:05
um but the other one that was very
00:35:08
interesting was the um
00:35:09
esrb which is the entertainment software
00:35:12
ratings board
00:35:13
because video games like mortal kombat
00:35:14
and those and doom were
00:35:16
you know had to self-regulate right um
00:35:18
so either you regulate yourself
00:35:20
when champ was asking a question about
00:35:21
lawsuits that robin hood
00:35:23
i know i was trying to deflect
00:35:28
come on man can we move on to the delta
00:35:30
variant because i'm supposed to be
00:35:32
hysterically afraid of getting covet now
00:35:34
because i've been vaccinated
00:35:36
people keep talking about there's this
00:35:38
delta variant it's spreading
00:35:40
and then i'm hearing one set of
00:35:41
information which is
00:35:43
if you're vaccinated it's not an issue
00:35:45
and then uh
00:35:46
other folks are going on tv saying this
00:35:49
is gonna be
00:35:50
like we're gonna have to put masks back
00:35:51
on in california i can't find
00:35:54
any data about how many actual cases
00:35:57
there are but
00:35:58
according to the usc dc 46 percent of
00:36:00
the total u.s population has been
00:36:02
vaccinated now
00:36:03
uh and new york new jersey california oh
00:36:05
well above 50 some people are in the 60
00:36:07
percent of adults 70
00:36:09
of adults florida is still trailing but
00:36:12
i can't and people are saying this is
00:36:13
going to become the dominant variant
00:36:14
free break how should we look at the
00:36:16
delta variant if you're vaccinated
00:36:18
and then how should we look at it in
00:36:19
terms of are we going to go through
00:36:22
mandatory masks again which people are
00:36:24
starting to signal already in certain
00:36:27
uh coastal cities yeah so trevor
00:36:30
bedford's a great guy to follow on this
00:36:32
uh he's a epidemiologist virologist who
00:36:35
um
00:36:35
on twitter on twitter yeah trv
00:36:38
rb is his uh twitter handle and so he's
00:36:42
aggregated a bunch of good data so there
00:36:43
was a paper published two days ago out
00:36:45
of the uk
00:36:46
where they are trying to estimate the um
00:36:49
uh you know the reproduction rate of the
00:36:52
delta variant um and it looks like it's
00:36:54
about 1.3 that means for every person
00:36:56
that gets infected with the delta
00:36:58
variant of the sars kobe 2 virus one
00:37:01
that's the r knot you're talking about
00:37:02
that's that's yeah some people call
00:37:04
arnold yeah and so um
00:37:06
it turns out that you know that number
00:37:07
is higher than what we saw with the
00:37:09
original south kobe 2 which i think is
00:37:11
probably closer to 1.1 or so
00:37:13
and so um you know what that means is
00:37:15
this variant is much more infectious
00:37:17
right it could spread through the air
00:37:19
the proteins could last in oxygen much
00:37:21
longer and not degrade
00:37:22
all these different reasons why it might
00:37:24
be kind of more infectious
00:37:26
and there are some cases of people that
00:37:28
have been vaccinated but this is not the
00:37:30
predominance of
00:37:31
what we're seeing that have tested
00:37:34
positive for having this delta variant
00:37:35
but are having mild to moderate symptoms
00:37:37
there aren't at this point a lot of
00:37:39
people there's not a lot of data to
00:37:41
indicate that this is actually kind of
00:37:42
like a lethal risk or fatal risk to
00:37:44
people that have been vaccinated in case
00:37:46
in fact
00:37:46
that seems to be not true and one way
00:37:49
that that data
00:37:50
is kind of demonstrated right now is
00:37:52
there was another analysis that was done
00:37:53
where they showed
00:37:54
what is the reproduction rate of this
00:37:57
variant
00:37:58
based on what percentage of the
00:37:59
population has been vaccinated by state
00:38:02
and they showed that you know for a
00:38:04
state that's had maybe thirty percent of
00:38:05
its population vaccinated
00:38:07
the r naught is closer to one point
00:38:09
three five when
00:38:10
sixty percent of the state is vaccinated
00:38:12
the r naught is just at one
00:38:13
and so there's this you know um unco you
00:38:16
know uh negatively correlated kind of
00:38:18
relationship between how many people
00:38:19
have been vaccinated and how
00:38:21
much this variant is transmitting and
00:38:22
that makes intuitive sense right like if
00:38:24
people are vaccinated they're not going
00:38:25
to
00:38:25
get infected the virus isn't going to
00:38:27
hop from person to person to person
00:38:29
now when you do the analysis of what
00:38:31
percentage of the u.s population is
00:38:33
unvaccinated
00:38:35
and how reproductive this virus is a lot
00:38:37
of epidemiologists are
00:38:39
saying that the models indicate that we
00:38:41
could see up to 10 percent of the u.s
00:38:43
population now get hit with this variant
00:38:45
and what we don't know is what
00:38:46
percentage of people actually had you
00:38:48
know stars kobe 2 in the first run
00:38:50
around last year
00:38:51
um but we are seeing this this variant
00:38:53
pop up now the the fatality rate doesn't
00:38:55
appear to be much higher
00:38:56
than what we saw with stars cov2 the
00:38:58
first time around and um and so there's
00:39:00
no indication to say like hey this is
00:39:02
going to be much more lethal
00:39:03
so when you combine those factors it
00:39:04
seems like at this point you know the
00:39:06
the death rates in the u.s are remaining
00:39:08
flat uh and stable
00:39:10
while we are going to see and may expect
00:39:12
to see a continuing upsurge
00:39:14
surge up in terms of the number of cases
00:39:16
are we going to require masks this goes
00:39:17
back to kind of my previous point about
00:39:19
i think we've kind of normalized
00:39:21
ourselves to masks and shutdowns and
00:39:23
lockdowns and all the stuff that we did
00:39:24
last year
00:39:25
thinking that it had an effect a recent
00:39:26
paper showed that lockdowns had no
00:39:28
effect
00:39:29
on the reproduction rate in the united
00:39:30
states because at the end of the day
00:39:32
what if a government says lockdown or
00:39:33
government says put masks on
00:39:35
people still have a tendency to do
00:39:36
whatever the hell they want to do and at
00:39:38
least in the united states that is the
00:39:39
case that is not the case
00:39:40
likely in asian countries where we did
00:39:42
see an effect of lockdowns and masks
00:39:44
but in the united states these uh these
00:39:46
restrictions
00:39:48
obviously had adverse economic effects
00:39:50
but didn't seem to have a strong
00:39:51
epidemiological effect
00:39:54
based on a recent paper that i will
00:39:56
share uh
00:39:57
in this thing so so what are we going to
00:39:58
do i don't know i feel like we've
00:39:59
normalized math we've normalized blocked
00:40:01
we've normalized these responses but
00:40:02
sars code v2 is going to be here forever
00:40:04
and it is going to cycle through
00:40:06
variants and
00:40:06
that's the concern right in the world
00:40:08
let me let me make a prediction
00:40:10
i think that what at the end of this
00:40:12
thing
00:40:13
what i think i have come to the
00:40:15
conclusion of
00:40:17
is there was a lot of unknowns
00:40:21
that got perverted into hysteria and
00:40:25
mania
00:40:26
by a handful of organizations to
00:40:29
basically
00:40:30
sequester power and what we realized is
00:40:34
that these people were incompetent
00:40:36
and they didn't know what they were
00:40:38
doing because you ended up in the same
00:40:40
place with all of these different
00:40:42
distributions of actions
00:40:44
and so now i think when you have this
00:40:46
other variant i think there's a growing
00:40:48
sensation
00:40:49
by a lot of people not just americans
00:40:52
that
00:40:52
the cdc the who whoever it is
00:40:56
is probably at best guessing and at
00:40:59
worst making it up
00:41:00
and the ultimate result is their this
00:41:03
it's almost as if they like being drunk
00:41:05
with power
00:41:06
and so i think the last part of what you
00:41:08
said freeberg is what i really agree
00:41:10
with which is that this is not going to
00:41:12
be tolerated anymore
00:41:13
and the reason is because they are also
00:41:17
politicizing science
00:41:18
and what they're doing is when they
00:41:20
don't know they're making poor
00:41:22
guesses in the name of science which is
00:41:24
just as bad
00:41:26
so you know i don't know what's going to
00:41:28
happen with the delta variant
00:41:29
maybe a lot maybe a little but as far as
00:41:32
i can tell i think people are tired
00:41:34
of uninformed
00:41:37
impacts to their lives and they're not
00:41:40
going to put up with it anymore
00:41:41
saks chances california goes back to
00:41:44
lockdowns or some sort of mask mandates
00:41:47
uh well well they are they're they're
00:41:49
imposing mass mandates in doors in
00:41:51
places like la
00:41:52
and you have the teachers unions the the
00:41:54
national
00:41:55
education union is now putting
00:41:59
down all these conditions on going back
00:42:01
to school in the fall
00:42:03
so i think you could be in a situation
00:42:04
where we do not have they will call it
00:42:06
school reopening
00:42:07
but we will not have five day a week in
00:42:10
person learning
00:42:11
and the schools the public schools that
00:42:12
have it are going to have all sorts of
00:42:14
insane
00:42:15
restrictions and conditions like making
00:42:17
kids who really aren't at risk
00:42:19
for covet even even the delta variant
00:42:22
they're going to force them to wear mass
00:42:23
they're going to
00:42:24
enforce this ridiculous social
00:42:26
distancing they're talking about making
00:42:27
the kids who aren't vaccinated
00:42:29
sit at a separate table like the
00:42:31
outcasts i mean it's insane what they're
00:42:33
talking about doing
00:42:35
so why is that insane david not to
00:42:37
interrupt you but i'm just curious if i
00:42:38
want you to unpack that
00:42:40
because so so look i i'm pro-vaccine you
00:42:43
know i think
00:42:44
adults should get vaccinated i don't
00:42:45
think my kids need to get vaccinated um
00:42:48
i don't think that
00:42:49
is a wise policy to to force kids to get
00:42:52
vaccinated
00:42:53
they're at very low risk for getting the
00:42:55
virus they're very low risk for
00:42:56
transmitting the virus if they get it
00:42:58
and even if they get it they're at
00:43:00
almost no risk for it being
00:43:02
harmful or you know to cause serious
00:43:04
illness or death
00:43:06
and so to impose all these restrictions
00:43:08
on kids it's like we're living in a time
00:43:10
warp
00:43:10
you know back to last summer we didn't
00:43:12
know as much about the virus
00:43:14
i mean to jamaa's point they're imposing
00:43:16
all these restrictions
00:43:17
which are just unscientific and it
00:43:19
really seems like the real point
00:43:21
is to create excuses for the teachers
00:43:24
not to
00:43:24
have to go back to work and you know you
00:43:27
know a school system is
00:43:28
borked when the truancy is on the part
00:43:31
of the teachers not the students
00:43:33
the students want to go back the
00:43:34
teachers want to be truant
00:43:36
it's like they want to be on permanent
00:43:38
vacation forever it
00:43:40
is a really broken system by the way
00:43:43
let me just highlight um you know to
00:43:45
support
00:43:46
uh the concern that i think people like
00:43:49
like people that saks is kind of
00:43:51
speaking to might be having
00:43:53
a research letter was published in the
00:43:55
journal
00:43:56
um of the american medical medical
00:43:58
association two days ago
00:44:00
a lead researcher with a guy named
00:44:02
harold walsh and this paper is going
00:44:04
viral amongst kind of the
00:44:06
um you know the the scientific and
00:44:08
medical community right now and what
00:44:09
these guys did is they measured
00:44:11
the carbon dioxide content of children's
00:44:14
lungs
00:44:15
um from wearing masks and so they were
00:44:18
trying to identify like is this a
00:44:20
risk to children to actually be wearing
00:44:22
masks health-wise
00:44:23
and the results are pretty scary it
00:44:26
turns out that you know
00:44:27
um in in in air in in ambient air
00:44:31
0.07 by volume is carbon dioxide
00:44:34
when a normal and then they measured
00:44:36
kids you know
00:44:37
randomized control double blind you know
00:44:39
here's your enough double blind but
00:44:40
randomized control there's kids that
00:44:41
have masks and kids that don't
00:44:43
the kids that don't have masks their
00:44:45
carbon dioxide when they exhale is about
00:44:48
0.28 percent
00:44:50
when you have to wear a surgical mask
00:44:52
your carbon dioxide increases to one
00:44:54
point three percent
00:44:56
um and uh you know when they looked at
00:44:58
this in a more detailed way it turns out
00:45:00
that it could be as high as three point
00:45:02
eight percent and so this starts to
00:45:03
reach a medical level
00:45:04
that is concerning for doctors that
00:45:07
having these kids wear masks for
00:45:09
hours a day could actually be having an
00:45:12
adverse health effect because it is
00:45:13
increasing the carbon dioxide content of
00:45:15
their blood because
00:45:16
you know their lungs aren't strong
00:45:18
enough to breathe all this carbon
00:45:19
dioxide out it builds up in their body
00:45:21
and so there is a now a counterpoint
00:45:23
that is being made by scientists and
00:45:25
doctors
00:45:26
that maybe the benefit of the safety we
00:45:28
might get from kids wearing masks and
00:45:29
spreading the virus
00:45:30
is um outweighed uh by the uh
00:45:34
the cost of their health as a result of
00:45:36
wearing these masks and to ask
00:45:37
kids to wear masks for eight hours a day
00:45:39
or five hours a day
00:45:40
for nine months a year we're just now
00:45:43
waking up to the fact that there may
00:45:44
actually be consequences to this and i'm
00:45:46
not making a struggle
00:45:47
it's like it's like it's like it's like
00:45:48
child abuse so we sent our five-year-old
00:45:50
to a summer camp in la
00:45:52
okay and the camp is outside and all the
00:45:54
the adults are vaccinated okay
00:45:56
but they're making the kids wear masks
00:45:59
and it's no
00:46:00
fun you know and they can't play sports
00:46:02
the way they need to
00:46:03
and we just said the hell with this and
00:46:05
we took them out now what i don't
00:46:06
understand is why people
00:46:08
aren't laying this at the feet of gavin
00:46:11
newsom this is a hundred percent his
00:46:12
order
00:46:13
you know all he has to do is say listen
00:46:15
we don't need these rules anymore
00:46:17
it's kids it's outside and all the
00:46:19
adults are vaccinated what is the point
00:46:21
of this
00:46:22
and you know and i think we have this
00:46:24
recall election now that's been
00:46:26
scheduled for mid-september you know
00:46:28
right now it looks like
00:46:29
nuisance going to cruise to to to
00:46:32
winning but if we had a candidate in
00:46:34
california who could say
00:46:35
listen we need five day a week ins
00:46:38
you know in person schooling in the fall
00:46:41
no exceptions all the teachers need to
00:46:43
go back to work or they're going to need
00:46:44
to be looking for
00:46:45
new jobs we're not going to kowtow and
00:46:48
give in
00:46:48
to all these unnecessary unscientific
00:46:50
restrictions okay because newsome will
00:46:52
not make that guarantee
00:46:54
i think they could they could basically
00:46:55
steal this thing we don't have anyone
00:46:58
standing up saying that
00:46:59
and i think the closer we get to the
00:47:01
start of school if we don't have that
00:47:03
kind of five day a week instruction
00:47:05
i think parents are going to be up in
00:47:06
arms about this
00:47:08
i think they will be and i think what
00:47:09
we're going to prove is
00:47:11
none of these folks really know what
00:47:12
they're talking about and so they will
00:47:14
make it up
00:47:15
and someone will have some shred of
00:47:18
evidence about something
00:47:20
on either side of any topic and all
00:47:22
it'll do
00:47:23
is obfuscate and confuse and the end of
00:47:26
it will be
00:47:27
somebody imposing something onto you
00:47:31
that will have a negative impact on your
00:47:32
life but for their benefit
00:47:34
in the teachers for their benefit like i
00:47:37
don't want to go back
00:47:38
there's i mean listen i want to say all
00:47:39
teachers don't want to go back to school
00:47:40
i know a lot of teachers
00:47:41
want to go back to school and teach kids
00:47:44
and take the masks off because it's
00:47:45
insufferable no you
00:47:46
there is a contingency you can say the
00:47:47
union and separated from teachers
00:47:49
exactly yeah i don't think it's all
00:47:51
teachers it's some percentage of
00:47:52
teachers but i think we're
00:47:54
going to move david freeburg quickly if
00:47:56
i'm wrong here we're going to move to a
00:47:57
two-class system here if you're
00:47:58
vaccinated you get one set of rules and
00:48:00
if you're not vaccinated
00:48:02
you get another and this is where david
00:48:03
i think kids who are over the age of 11
00:48:06
or 12 who do get vaccinated
00:48:08
they shouldn't have to wear a mask at
00:48:09
school but then well sorry can i just
00:48:11
say something this is what the insanity
00:48:12
of this thing is it's like okay
00:48:14
we're going to throw around again we're
00:48:15
probably going to use the word equity
00:48:18
when we make these new rules but then
00:48:20
fine why don't you just create
00:48:22
a school that has everybody in it
00:48:25
who is vaccinated well sac state
00:48:28
i don't even understand i don't
00:48:30
understand this because all of us are
00:48:31
vaccinated so our
00:48:32
we don't need to worry about it so in
00:48:34
other words we're going to impose
00:48:35
restrictions on people and force
00:48:38
kids or whoever to get vaccinated to
00:48:40
protect whom
00:48:41
if all the adults are vaccinated we're
00:48:42
not protecting anybody all we're doing
00:48:44
is protecting i guess
00:48:45
unvaccinated adults that makes no sense
00:48:48
to me well they're taking the risk right
00:48:50
i mean if you're
00:48:50
choosing to not get the vaccine at this
00:48:53
point friedberg
00:48:54
you're taking some significant level of
00:48:57
risk or some moderate level does the
00:48:58
government have a responsibility to
00:49:00
protect that
00:49:01
person i don't think it matters what i
00:49:03
think matters is
00:49:04
remember like the societal
00:49:06
responsibility
00:49:08
is not and cannot be to protect every
00:49:10
individual
00:49:11
the societal responsibility is to make
00:49:13
sure that society functions and
00:49:16
um and if we take a zoom back and i just
00:49:18
want everyone to
00:49:19
reset your brains go back to march of
00:49:21
last year
00:49:22
and we were talking about the surge of
00:49:24
deaths in hospitals and hospitals were
00:49:26
going to be overwhelmed
00:49:27
and that was the reason we needed to go
00:49:29
into lockdowns and the reason we needed
00:49:30
to stop the surge
00:49:32
even if this delta variant is highly
00:49:34
infectious
00:49:35
there are enough people and people
00:49:37
vaccinated in the united states at this
00:49:39
point
00:49:39
that this delta variant is not going to
00:49:41
crush our hospital system
00:49:42
it's not going to cause massive amount
00:49:44
of fatalities which is the reason we
00:49:46
went into lockdowns in the first place
00:49:48
all of the concerns that we had last
00:49:49
year that rationalized a lot of the
00:49:51
extreme behavior that we undertook
00:49:53
no longer exists and we are now talking
00:49:56
about continuing those
00:49:57
those behaviors under a different set of
00:50:00
standards
00:50:00
and the set of standards is now i can't
00:50:02
put a teacher at risk i can't put an
00:50:04
individual at risk
00:50:05
and even if that individual got infected
00:50:07
if the fatality rate is so low
00:50:09
i can still say well they could die
00:50:11
therefore i can't have them exposed
00:50:13
right and that has become the new
00:50:14
standards what i think saxon
00:50:16
that that article kind of talked about
00:50:17
is heroism you know you get to a point
00:50:20
if you're if you're fighting a war
00:50:21
on a battlefield and you're like well i
00:50:23
can't let any of my soldiers die we
00:50:25
can't move down the field
00:50:27
you're not going to move down the field
00:50:28
you're not going to win the war
00:50:30
and i'm not saying that this is a war
00:50:31
the point is society has to progress the
00:50:33
economy has to progress people's lives
00:50:35
have to progress
00:50:36
people have to be educated life is about
00:50:38
progress
00:50:39
and if we halt progress because of the
00:50:41
concern that any individual might get
00:50:43
harmed
00:50:43
because of the progress of the group as
00:50:45
a whole we will not go anywhere and
00:50:47
we've created a new set of standards
00:50:48
that i think creates that very reality
00:50:50
and it is
00:50:51
frightening let me let me let me put a
00:50:54
finer point on this which is just
00:50:56
this coat this delta variant is just
00:50:58
more covered fear
00:51:00
porn okay this is the third variant of
00:51:02
concern
00:51:03
where they've been you know running
00:51:05
around alarms saying that you know we
00:51:07
have to worry
00:51:08
the truth is is it more transmissible
00:51:10
yes it is
00:51:11
going to i think sweep through areas of
00:51:13
the country
00:51:14
in the fall that aren't vaccinated but
00:51:16
the question is
00:51:18
how does it perform against the vaccines
00:51:19
and so far the vaccines are holding up
00:51:22
the the variants none of the variants
00:51:24
have really punched through
00:51:25
the vaccines in a meaningful way i think
00:51:27
the stats on pfizer were
00:51:29
it's it was it maybe reduced the
00:51:31
effectiveness from 95
00:51:33
to 88 or something like that but it
00:51:35
wasn't a material difference
00:51:36
if you were double vax with pfizer you
00:51:38
are protected against the delta
00:51:40
variant and so this is just more fear
00:51:43
porn that they keep popping
00:51:44
i'm in agreement with you and i think
00:51:46
this reminds me of
00:51:48
when we were growing up in the 80s they
00:51:50
tried to scare us
00:51:51
about sex and hiv and
00:51:54
were you not going to have sex if you
00:51:56
were in your 20s
00:51:58
in the 90s and into the 80s no you
00:52:01
learned about hiv
00:52:02
you learn to use condoms you learn that
00:52:04
you you probably couldn't do
00:52:06
uh you know what people did in the 60s
00:52:08
and 70s which had many many partners you
00:52:10
maybe had to have fewer partners
00:52:11
maybe longer term partners but you could
00:52:13
you could take your own risk
00:52:15
by putting on a condom you could make
00:52:16
that decision for yourself here i think
00:52:18
there's a group of people who don't want
00:52:20
anybody to make any decisions for
00:52:21
themselves
00:52:22
and in this case the vaccine is wearing
00:52:24
a condom
00:52:25
if you're wearing a condom like your
00:52:27
chances of getting hiv go down
00:52:28
dramatically it's just a known fact and
00:52:31
we're at 263 people
00:52:34
on average dying a day how many of those
00:52:36
fredberg do you think are
00:52:37
with covid versus from kovit
00:52:41
if you had to take a guess i have i have
00:52:42
always i i hate doing this because then
00:52:44
people think it's like an inhuman
00:52:46
analysis but the way that um
00:52:47
actuaries or economists would kind of
00:52:49
take a look at this sort of decision
00:52:51
tree
00:52:51
and this sort of data is the number of
00:52:54
life years lost
00:52:56
okay um so imagine someone is going to
00:52:58
die tomorrow
00:52:59
if someone's going to die tomorrow and
00:53:01
they catch covet today
00:53:02
and they die a day early you have lost a
00:53:04
life day and everyone yes that is
00:53:06
absolutely devastating and it is awful
00:53:08
emotionally but like when we're making
00:53:10
big decisions we have to think with the
00:53:12
data
00:53:13
and so um if someone catches covid and
00:53:15
they and they lose five years and they
00:53:17
die five years early then they
00:53:18
statistically would have died that's
00:53:20
five life years lost when a child dies
00:53:22
you are losing 68 life years right that
00:53:25
is an incredible loss of life is one is
00:53:27
one way to kind of think about this
00:53:28
statistically
00:53:29
and so um you know part of i think
00:53:32
what's been missing in the equation and
00:53:33
it's easy to tell the narrative
00:53:35
by speaking about people that have dead
00:53:37
that have died that tested positive for
00:53:39
covet when they died
00:53:40
is it now speaks to the fact that this
00:53:42
is a binary experience
00:53:44
and there's a binary number of lives
00:53:46
lost but the statistical the data-driven
00:53:48
exercise which may sound
00:53:49
inhuman and may sound awful but again we
00:53:52
have to make these decisions
00:53:53
using data if we're going to make large
00:53:55
decisions that are going to impact
00:53:56
everyone in a meaningful way
00:53:57
is to look at the number of life years
00:53:59
lost and i think if you were to do that
00:54:01
you would still find
00:54:03
that the vast majority of deaths
00:54:04
associated with covet are very elderly
00:54:06
people
00:54:07
who are already very close to dying and
00:54:09
that's why we are seeing the fatality
00:54:11
rate so low right now in the united
00:54:12
states even though covet is still
00:54:14
spreading with the delta variant
00:54:15
it is because almost 90 of people
00:54:19
over 70 have been vaccinated and as a
00:54:21
result
00:54:22
the people that are most at risk of
00:54:24
dying are well protected and we are not
00:54:26
seeing a significant loss of life
00:54:27
associated with this terrible virus the
00:54:29
terrible virus is still spreading
00:54:30
but the life loss is still not there now
00:54:32
someone might raise their hand and say
00:54:33
well we don't know the long-term
00:54:34
implications of long-term ramifications
00:54:37
i would raise my other hand and say show
00:54:39
me what the data is
00:54:41
that says that there are those long-term
00:54:43
implications ramifications because i can
00:54:44
say the what-ifs about anything and then
00:54:46
implement any policy decision i want by
00:54:48
just saying what if and we don't know
00:54:50
we have to say we do know here's the
00:54:52
data in order to make a tough decision
00:54:54
versus saying we need to be you know
00:54:56
protective and use the protective you
00:54:58
know
00:54:58
principle of um of precaution or the
00:55:02
precautionary principle and be really
00:55:03
careful in these circumstances
00:55:05
because at this point the impact and the
00:55:07
damage associated with some of our
00:55:09
practices
00:55:10
to quote unquote guard against covid and
00:55:12
and you know protect people
00:55:14
it's turning out their real consequences
00:55:15
to those decisions all right freeberg
00:55:17
final question on kovid uh
00:55:19
should you wear two condoms in other
00:55:21
words should you get moderna
00:55:23
and pfizer or j j and pfizer there are
00:55:26
studies coming out now to say
00:55:28
one plus one equals three there is some
00:55:30
super effect of getting two
00:55:32
i am looking into this i'm thinking i'm
00:55:33
gonna get a second vaccine
00:55:36
i might get to get a modern or a pfizer
00:55:37
a j j just don't make it
00:55:39
don't wait don't waste the vaccine shots
00:55:41
let them go to other countries
00:55:43
you know not needed not needed even
00:55:46
though the studies are starting to show
00:55:47
it gives you increased
00:55:49
i mean do you need your tests do you
00:55:50
need your tesla to go from 180 to 185
00:55:52
miles an hour i mean like
00:55:54
you know that's a good point i mean look
00:55:56
everything we learn about the vaccines
00:55:58
makes them look better and better
00:56:00
the protection lasts longer than we
00:56:01
thought the
00:56:03
um they're more effective against
00:56:05
variants than people were afraid of
00:56:07
and now we learn that there is even more
00:56:09
protection by sort of this mix and match
00:56:11
idea
00:56:12
so the vaccines have worked there are
00:56:13
still i think a couple of groups in
00:56:15
america
00:56:16
that are very vaccine hesitant um
00:56:19
evangelicals and african-americans are
00:56:22
the two groups
00:56:23
that was male republicans it's it's more
00:56:25
like evangelicals and so in a place like
00:56:27
mississippi where you have large
00:56:29
numbers of both the vaccine rates only
00:56:31
like 29 30
00:56:32
it's actually pretty low in a place like
00:56:34
that you could see
00:56:36
the delta variants sweep through in the
00:56:38
fall
00:56:39
and you could see a lot of cases i you
00:56:41
know let me
00:56:42
let me buck your uh labeling
00:56:44
categorization of me jake
00:56:48
by saying that i don't think the leaders
00:56:50
on the right are doing anyone
00:56:51
any favors any of their voters any
00:56:53
favors by not coming out and saying look
00:56:56
the vaccines
00:56:57
work you know i think trump could do a
00:56:58
lot of good by coming out and just
00:57:00
saying listen i got the vaccine i'm
00:57:02
pretty sure he did right he did
00:57:04
he did and so you know i think if you
00:57:06
are
00:57:08
in one of those groups you know and
00:57:10
certainly you're over like 40
00:57:11
you should be getting the vaccine i mean
00:57:14
not to harp on this but what did trump
00:57:15
say when you suggested you come out
00:57:16
publicly about it
00:57:19
nobody's listening to it nobody's no
00:57:21
it's fine nobody's listening to me
00:57:23
obviously i mean it it is very weird
00:57:28
that trump spent
00:57:31
massive amounts of money on the vaccine
00:57:33
and now doesn't want to take credit for
00:57:35
project light speed by telling everybody
00:57:36
to get it
00:57:38
i think he's got what is your other
00:57:39
issues i think he's got a lot of other
00:57:41
issues on the plate to deal with
00:57:42
including an
00:57:43
indictment that just landed yesterday so
00:57:45
maybe you know maybe he just doesn't
00:57:47
know what to focus on
00:57:48
because he he sees his uh his budding
00:57:51
empire unraveling before him did you see
00:57:53
the report that said that trump
00:57:54
was extremely thrilled by the fact that
00:57:57
his cfo was indicted
00:57:59
for two reasons one is it kind of
00:58:02
indicates that they didn't have enough
00:58:03
to go after him
00:58:04
and two is it's going to make joe biden
00:58:06
look bad and his administration
00:58:08
look bad uh because it looks like
00:58:10
they're being kind of prosecuted
00:58:11
and persecuted now but that he views
00:58:13
this as a positive and
00:58:15
and he's thinking about it as a way to
00:58:16
kind of stage a 2024 run
00:58:19
well i didn't i didn't see that
00:58:21
particular story but i do think
00:58:22
that maggie tweeted okay well
00:58:26
what the charges show i think is that
00:58:27
they got nothing on trump
00:58:29
directly um i mean this turned out to be
00:58:32
a big nothing burger after years of
00:58:34
investigation just like the whole russia
00:58:36
thing
00:58:37
and so 15 15 felony counts
00:58:44
trump was not let me finish trump trump
00:58:46
was not named they didn't get close to
00:58:48
trump
00:58:48
all they got was they're trying to
00:58:50
charge the wesley high muzu cfo
00:58:52
with basically receiving certain perks
00:58:54
as compensation t and that was tv
00:58:56
violations it was crazy yeah
00:58:58
this is penny annie's stuff it does look
00:59:00
like
00:59:01
persecution rather than prosecution and
00:59:03
what they're trying to do
00:59:04
is they're going after this guy
00:59:05
wesselheim to squeeze him to try and
00:59:07
roll over on trump
00:59:09
well good luck with that that's about as
00:59:10
likely to happen as uh
00:59:13
putin releasing the p tapes not going to
00:59:15
happen sorry jacal
00:59:16
trump is getting away one thing i would
00:59:18
say i think that i disagree with
00:59:20
respectfully is um
00:59:23
this is a 15-year uh tax avoidance
00:59:26
scheme that included more than t
00:59:28
e included people getting their tuition
00:59:31
paid for for free and free apartments
00:59:33
so they just would be and then hold on
00:59:35
they then
00:59:36
knowingly did this and changed the books
00:59:38
knowingly so they
00:59:39
caught them going into their accounting
00:59:41
and changing to hide it
00:59:43
and so the cover-up worse than the crime
00:59:45
this is an explicit way
00:59:46
to not pay their taxes this would be if
00:59:48
all of us took our personal residences
00:59:50
and our kids
00:59:51
private school tuition and didn't pay
00:59:52
taxes on it it's significant
00:59:54
jason so the the total amount for
00:59:56
example that this guy got in
00:59:58
uh tuition reimbursements over this
01:00:01
15-year period was about 375
01:00:04
000 the total amount of some other rent
01:00:07
perks that he got was for about 1.6 or 7
01:00:10
million
01:00:11
the total amount of value that i think
01:00:12
his son got you know was spending a
01:00:15
thousand dollars a month in a trombone
01:00:16
department
01:00:17
when you add it all up for a guy that
01:00:20
was accused of
01:00:21
you know being in cahoots with russia
01:00:24
this and that and everything you pinch
01:00:27
the cfo for a few million dollars of
01:00:30
effectively again t e let's just say
01:00:33
that he did it
01:00:34
you know some of these checks came
01:00:35
directly from trump it
01:00:37
i think i agree with david it's a bit of
01:00:39
a nothing burger and
01:00:40
it really does look like it's
01:00:42
politically motivated and the reason is
01:00:44
because
01:00:45
these kinds of chargers are typically
01:00:47
not brought
01:00:48
these are things that typically result
01:00:50
in a civil penalty a restatement and you
01:00:52
just kind of move on
01:00:54
you know nobody nobody's trying to send
01:00:55
somebody to jail
01:00:57
for you know getting for miscategorizing
01:01:00
or i have a theory because we don't have
01:01:01
full information
01:01:02
and they weren't investigating this
01:01:03
stuff before trump became a politician
01:01:05
why weren't wh this if this been going
01:01:07
on for 15 years
01:01:09
why didn't this investigation happen
01:01:11
five six seven years ago
01:01:12
i could tell you why his um the
01:01:15
daughter-in-law
01:01:16
of weisselbergs uh was uh
01:01:20
received a lot of these perks and then
01:01:22
she dropped a dime and gave all the
01:01:23
documents to them
01:01:24
my theory on this is because we don't
01:01:26
have complete information yet
01:01:27
i think that they have other i think
01:01:30
they have this bigger tax
01:01:31
uh case around making the assets
01:01:35
look um smaller when paying taxes and
01:01:38
inflating the value of the assets when
01:01:40
getting loans and i think they want to
01:01:42
get that and the way to get that
01:01:44
is to flip weiselberg because trump does
01:01:47
not use email and communications i think
01:01:48
that that's what's going on here
01:01:50
um but yes you're right they're trying
01:01:52
to they're trying to flip him look
01:01:54
the the kgb had a saying show us the man
01:01:57
we'll tell you the crime
01:01:58
okay they decided we're gonna go after
01:02:01
trump this is entirely political they
01:02:03
weren't interested in him
01:02:04
five six seven years ago once he got
01:02:06
into politics they became interested in
01:02:08
him
01:02:08
he became the man and now they are
01:02:10
trying to roll up and flip all these
01:02:12
people and try to get them to turn on
01:02:13
trump
01:02:14
and give them something these democratic
01:02:16
pit bull prosecutors they are going to
01:02:17
make trump look like the victim here
01:02:19
this will rebound i think in a negative
01:02:21
way it is a really stupid thing that
01:02:23
they're doing
01:02:23
i mean this this could have happened in
01:02:26
so many different ways
01:02:27
the guy was finished and washed up
01:02:30
right he was in his little hovel in
01:02:33
florida
01:02:34
you know no twitter account you know in
01:02:35
the one no twitter account no access to
01:02:37
his base
01:02:38
um the one time he actually showed up in
01:02:40
new york two or three weeks ago i don't
01:02:41
know if you guys saw the photos he looks
01:02:43
so disheveled
01:02:44
so old so broken let the guy wither
01:02:48
into obscurity but instead you pin these
01:02:51
charges you
01:02:52
create an entire press cycle you're
01:02:54
going to rally so many people on the
01:02:56
right
01:02:56
and actually a lot of people in general
01:02:58
who feel like wait what are we doing as
01:03:00
a country
01:03:01
why don't we just let it just be done
01:03:02
with this guy i don't ever want to hear
01:03:04
about him ever again
01:03:05
and instead we're kind of like bringing
01:03:07
it all back front
01:03:08
center i just think it's a bad look what
01:03:11
do you think about the insurrection
01:03:13
commission do you think that that should
01:03:14
um should be disbanded as well because
01:03:18
you think that should that should be
01:03:19
pursued yeah because that's not
01:03:21
necessarily about trump that it is about
01:03:23
a
01:03:23
whole totality of things that really
01:03:25
will lead into the fact that we have
01:03:28
a lot of far right organizations
01:03:32
that need to be understood we have one
01:03:35
far-left organization that needs to be
01:03:37
understood
01:03:38
all in the same light which is that
01:03:39
these folks are destabilizing force to
01:03:42
democracy
01:03:44
and so yeah you got to get to the bottom
01:03:45
of what the hell happened
01:03:47
sex do you do you think the insurrection
01:03:49
commission is going to be equally kind
01:03:50
of politically motivating for
01:03:52
uh for trump's face and for folks like
01:03:54
that well i just think that
01:03:57
you have to decide as a country whether
01:03:59
you're going to keep
01:04:00
relitigating you know what happened in
01:04:02
the previous administration i mean if
01:04:04
we're going to go back and keep this
01:04:05
going
01:04:06
you know we're going to go back and look
01:04:08
at why did the
01:04:09
fbi used the steele dossier
01:04:13
to go to a fisa court to spy on members
01:04:15
of the trump campaign
01:04:17
and there are 17 misrepresentations in
01:04:20
their
01:04:20
uh in their petition to the fisa court i
01:04:22
mean there was clear misconduct there
01:04:24
we're going to go back
01:04:25
and relitigate that and go after people
01:04:27
and punish them look maybe we should
01:04:29
okay but i think that this is the thing
01:04:31
about politics everyone just wants to
01:04:32
move forward
01:04:33
we're in a new administration now
01:04:35
whatever misconduct occurred
01:04:37
i think the punishment was paid at the
01:04:39
ballot box
01:04:40
i think it's just time to move on and uh
01:04:44
and i look i know there's going to be a
01:04:45
lot of partisans on both sides
01:04:47
who just want to go re-litigate and
01:04:49
punish their enemies forever
01:04:50
but you know i think the american people
01:04:52
just want to move forward
01:04:55
yeah what do you mean are you in the far
01:04:56
what are you in the far left want to do
01:04:58
well i'm not on the far left i mean i i
01:05:00
think that there is a
01:05:01
i do think that there is a bunch of
01:05:02
gamesmanship here i think this is a
01:05:04
a chess board that on the left they're
01:05:08
saying
01:05:09
if we we if we have a chance to take
01:05:12
trump out of political life we need to
01:05:16
do that because the cost of him getting
01:05:18
re-elected in 2024
01:05:20
is too great and so what we're talking
01:05:22
about here is
01:05:23
you know what is the best path to doing
01:05:25
that and you know chamats right like
01:05:27
just letting him fade into obscurity he
01:05:29
may not want to run again because he's
01:05:30
so old
01:05:31
and it's so painful to be president he's
01:05:33
75 i mean he's going to be 78
01:05:36
or no 17 he'll be the same age as biden
01:05:38
going i mean
01:05:39
this is ridiculous both of these two
01:05:41
guys are one-term presidents i think
01:05:43
that is
01:05:44
abundantly clear i think the question is
01:05:46
what is biden's transition plan
01:05:49
you know does he actually only stay two
01:05:50
years and transitions to takamala
01:05:53
i don't know but there's no way that
01:05:55
he's running for a second term either he
01:05:57
does not look healthy i think that much
01:05:59
is
01:06:00
at least and i'm saying this as you know
01:06:02
a centrist democrat he doesn't
01:06:04
look completely fit um
01:06:07
and it's only going to get worse and
01:06:08
this is the most incredibly stressful
01:06:10
job in the world
01:06:11
neither of these two guys are our
01:06:13
long-term solution it's time
01:06:15
to let it all go right
01:06:18
it's like we had four years
01:06:21
of just chaos we now get to have four
01:06:24
years to catch our breath
01:06:26
it's time to find the late 40s to mid
01:06:30
50s
01:06:31
centrist normal people again and we have
01:06:34
three years to do it
01:06:35
who do you think that is on the
01:06:37
republican side and tomorrow who do you
01:06:39
think it is on the democrat side who's
01:06:40
going to run for the next election cycle
01:06:42
because just this morning by the way an
01:06:44
article came out
01:06:46
that um highlighted that several
01:06:47
insiders in the white house are
01:06:49
completely like
01:06:50
up in arms about how uh chaotic
01:06:54
uh kamala harris's office is which is
01:06:56
basically a way of starting to shoot her
01:06:58
down
01:06:58
right so if you think about the the
01:07:00
motivation here someone in the white
01:07:01
house is starting to shoot kamala harris
01:07:03
down
01:07:03
which means they're starting to weaken
01:07:05
her a little bit in terms of whether she
01:07:07
could actually be a good replacement for
01:07:08
the next term i don't know if that's
01:07:10
truly the motivation but that's
01:07:11
typically what these sorts of stories
01:07:12
indicate
01:07:14
so if not her if not her who on the
01:07:17
democrat side and
01:07:18
you know if not trump who on the
01:07:19
republican side in the next election
01:07:21
cycle because those folks are going to
01:07:22
start to pop their head up right
01:07:23
the well i mean i think the i think the
01:07:26
person who has
01:07:28
enough credibility to take a shot it's
01:07:30
not clear that
01:07:32
she will but if she did she would be
01:07:34
really serious and
01:07:35
she could actually get people to be
01:07:37
relatively normal as nikki haley
01:07:40
on the right but ron desantis is going
01:07:42
to be the right
01:07:43
candidate correct and she's kind of
01:07:45
normal desantis is definitely the early
01:07:46
front runner
01:07:47
um there was a straw poll in which he
01:07:50
was the first republican
01:07:51
to actually run ahead of trump in a
01:07:54
straw poll for
01:07:55
what four or five years and uh so yeah
01:07:58
it looks like uh
01:07:59
he now he's running for re-election in
01:08:02
florida
01:08:03
in 2022 so that's on his plate
01:08:07
and but i think it looks like he's going
01:08:08
to sweep to victory he made the right
01:08:10
decisions on lockdowns
01:08:12
this is the central feather in his cap
01:08:15
that
01:08:16
before any other governor really he
01:08:18
looked at the data saw that
01:08:19
to freeburg's point lockdowns don't make
01:08:22
a difference
01:08:23
he went back to normal the state
01:08:25
benefited you look at per capita covades
01:08:27
in florida
01:08:28
it's middle of the pack which is
01:08:30
actually a really good result
01:08:31
given how many old people they have so
01:08:33
he did a phenomenal job i think setting
01:08:35
covet policy in florida and he did it
01:08:39
in the face of a hostile media that was
01:08:42
just tearing him limb from limb and so
01:08:43
he stowed
01:08:44
that he only can find the right policy
01:08:47
but that he's got the spine
01:08:49
to stand up for it and i think as a
01:08:51
result of that yeah he has
01:08:53
galvanized early the republican base
01:08:57
if he wins re-election in 2022 by uh
01:09:00
by a strong margin i think he does
01:09:02
become the putative front-runner
01:09:03
for 2024. very similar in a way i think
01:09:06
to the way that that george w
01:09:08
bush you know he he basically won
01:09:11
re-election in texas two years before he
01:09:13
ran for president
01:09:14
and on the heels of that victory he was
01:09:16
able to make the case look i just got
01:09:18
reelected
01:09:19
very popular in a huge state of the
01:09:21
country you know i should be the
01:09:23
front-runner
01:09:23
i think desantis is in a similar
01:09:25
position what do you think about nikki
01:09:26
haley's sex
01:09:28
i think nikki haley is sort of popular
01:09:30
with the establishment
01:09:32
wing of the republican party but she
01:09:33
does not bring together
01:09:35
both the the sort of the establishment
01:09:37
wing with the populist wing and what
01:09:39
desantis has been able to do is get the
01:09:42
business republicans and the
01:09:43
establishment
01:09:44
republicans to get behind him as well as
01:09:47
the populist
01:09:48
trump base loves him and that's that's
01:09:51
the
01:09:51
um that's the combo you got to have i
01:09:54
think to to win the republican
01:09:55
nomination and so
01:09:57
nikki haley i think you know everybody
01:09:59
who sort of
01:10:00
reads elite media is going to over index
01:10:03
on her
01:10:04
but if you go to the the straw polls and
01:10:06
the rallies
01:10:07
she's not just not going to perform in
01:10:08
those polls there's a very interesting
01:10:10
article on politico
01:10:11
though over the past week about how
01:10:13
desantis is being very careful
01:10:15
not to do anything to upset trump and i
01:10:18
think he understands
01:10:19
is he the vp candidate with trump you
01:10:22
think
01:10:23
well that that pre-assumes a lot of
01:10:24
things happening i mean look
01:10:26
we don't know what's gonna happen i
01:10:28
think that you know
01:10:30
the the number one way to resurrect
01:10:31
trump is what chamas said
01:10:33
is to keep poking that bear to fill him
01:10:36
with the
01:10:37
the rage to to sort of counter punch and
01:10:40
come back
01:10:41
i think it would be better however for a
01:10:44
new generation
01:10:45
of leaders to look we have we're being
01:10:47
run by a gerontocracy right now so
01:10:49
i mean just biden is 78 pelosi is 80.
01:10:53
schumer is 77. mcconnell is 80 and trump
01:10:56
is 75.
01:10:57
and that's today okay in 2024 all those
01:11:00
people are going to be in their 80s or
01:11:02
just about who
01:11:03
will even be alive i mean feinstein will
01:11:05
be 91 or 92.
01:11:07
it's time to have a new generation of
01:11:09
both parties why are we being run by
01:11:10
this gerontocracy
01:11:12
what a joke do we want to move on to the
01:11:14
drought and impending
01:11:16
uh death and or the facebook ftc
01:11:18
dismissal
01:11:20
oh that was incredible and also at the
01:11:22
uh
01:11:23
ftc got two gut punches in a row uh and
01:11:26
then you know amazon
01:11:28
writes this petition to recuse lena khan
01:11:30
it's like that's why she was hired
01:11:33
incredible she was hired because she's
01:11:34
an expert on amazon the the amazon the
01:11:36
amazon letter was actually extremely
01:11:38
well written and basically said
01:11:40
i know that she's in charge of basically
01:11:43
finding
01:11:44
fairness and fairness seems to be that
01:11:46
we will get legislated but we believe
01:11:47
that
01:11:48
it's unfair to us so please take her out
01:11:50
of the mix i
01:11:51
just think it was fantastic i mean it's
01:11:53
incredible it's like isn't this the
01:11:54
point of having her in the job
01:11:56
it's like we've hired a new prosecutor
01:11:58
who specializes in organized crime and
01:12:00
the gambino crime family has petitioned
01:12:02
to have them
01:12:03
exactly refused refused from doing any
01:12:06
organized
01:12:07
right there their argument is that she
01:12:09
should be recused because she published
01:12:11
um
01:12:11
articles yeah that amazon should be
01:12:14
broken up and they're saying she's
01:12:15
already prejudged the situation
01:12:16
there's no way this is gonna fly there's
01:12:19
no way she's gonna get recused
01:12:21
but i think what they're trying to do is
01:12:23
put an argument on appeal
01:12:25
so that if lena khan does break them up
01:12:28
somehow
01:12:28
they can then go appeal to the supreme
01:12:30
court or wherever and
01:12:32
this is basically reserving an argument
01:12:34
they can make later
01:12:35
so just to highlight the ftc um brought
01:12:38
this case
01:12:39
against facebook saying that they're a
01:12:42
monopoly in their monopolistic practices
01:12:43
or damaging the market
01:12:45
the dc federal court threw out the case
01:12:47
and they basically said that the ftc
01:12:50
failed to demonstrate in any way that
01:12:52
facebook has a monopoly over anything
01:12:54
because they kept using the 60 market
01:12:56
share term and they're like 60
01:12:58
what and the ftc was never able to give
01:13:01
them
01:13:01
data or facts to indicate what facebook
01:13:04
has a 60
01:13:05
share of there are other social media
01:13:08
services or other advertising platforms
01:13:09
there are other content sites that are
01:13:11
all
01:13:11
um in aggregate much larger than
01:13:13
facebook and so the case was dismissed
01:13:16
because there was no demonstration
01:13:18
at all which is why of the traditional
01:13:21
definition of a monopoly
01:13:22
and then elizabeth warren comes out two
01:13:24
days ago and says we need to rewrite the
01:13:26
laws
01:13:27
uh the anti-trust laws entirely redefine
01:13:29
what it means to be a monopoly redefine
01:13:31
what this this impacts and so i think
01:13:33
the big question is how much of a
01:13:34
priority is it going to be
01:13:36
for this administration and for this
01:13:37
congress before they're out of session
01:13:39
and
01:13:39
we end up with a split congress again to
01:13:41
step up and rewrite anti-trust laws at
01:13:43
this point is this really a high
01:13:45
priority question um
01:13:46
or is it going to get that's why khan is
01:13:48
being brought in is to
01:13:50
take another approach like we talked
01:13:51
about on the last episode which is
01:13:54
you know the harm is competition
01:13:57
uh and not uh the monopolistic power but
01:14:01
downstream competition as chamath uh
01:14:03
eloquently explained on the last pod the
01:14:05
irony of the elizabeth warren
01:14:07
uh statements was that she released them
01:14:09
on twitter
01:14:10
not her facebook somebody dunked at her
01:14:12
like she's talking about the
01:14:13
monopolistic powers of facebook on
01:14:14
twitter
01:14:15
right right you have an alternative it
01:14:17
was the point um
01:14:20
i mean how big of how big of a like
01:14:21
legislative priority is this going to be
01:14:23
for democrats because this could be real
01:14:26
if they rewrite the laws
01:14:28
it could be impactful to amazon apple
01:14:30
facebook google you know
01:14:32
huge it's a huge priority there's six
01:14:34
bills that just got passed in the house
01:14:35
is going to the senate and i do think
01:14:37
moving fast
01:14:38
this is one of the areas where you could
01:14:39
actually get some bipartisan agreement
01:14:42
in the senate you remember it's a 50-50
01:14:44
senate all it would take would be a few
01:14:45
democrats
01:14:46
to defect and they wouldn't be able to
01:14:47
pass anything but you got 21 republicans
01:14:51
who supported lena khan so you know that
01:14:54
says to me that legislation is likely i
01:14:57
think it's going to go through
01:14:59
i think we are going to see some some
01:15:01
big changes
01:15:02
and in fairness to lena khan this ftc
01:15:04
lawsuit that got thrown out
01:15:06
was brought before she got there she
01:15:07
didn't have a chance to shape those
01:15:09
arguments
01:15:10
they have 30 days to refile it'll be
01:15:12
really interesting
01:15:13
to see how she handles this hot potato
01:15:16
now
01:15:16
whether she brings the lawsuit in a
01:15:19
different way in the next 30 days or
01:15:20
whether she
01:15:21
lets it drop but i do think that of all
01:15:24
the big tech companies the argument for
01:15:26
breaking up facebook is the weakest
01:15:28
because it's true like it's it's harder
01:15:31
to say definitively
01:15:32
they have a monopoly in social
01:15:33
networking when you've got twitter
01:15:35
you've got
01:15:36
snapchat you've talked to reddit you've
01:15:38
got
01:15:39
you've got linkedin you've got so many
01:15:41
other companies in social media
01:15:42
but but that does not mean that the
01:15:45
argument
01:15:46
against amazon google and apple isn't
01:15:48
strong those companies are clearly
01:15:50
monopolies or duopolies in their spaces
01:15:52
nobody can effectively compete with them
01:15:54
their network effects or monopoly scale
01:15:56
effects i think that facebook's
01:15:58
monopolistic
01:15:59
impact probably tends towards some form
01:16:02
of information distribution but it's a
01:16:04
very
01:16:04
technical argument that has to be framed
01:16:06
accurately on the one side or
01:16:08
it's how they've aggregated long-tail
01:16:10
advertisers on the other
01:16:12
but to your point david on the idea of
01:16:13
social networking i don't think they're
01:16:14
a monopoly in the lease
01:16:16
well also they're re-litigating the
01:16:17
approved acquisitions of instagram and
01:16:20
whatsapp i kind of feel like
01:16:22
if you bought these things and you
01:16:23
approved it what is it nine years ago
01:16:25
and seven years ago
01:16:27
yeah they said they said if you guys had
01:16:29
an issue that you know the state's
01:16:30
attorney general that filed
01:16:31
the suit against the instagram
01:16:33
acquisition and whatsapp they're like if
01:16:34
you had an issue with it you should have
01:16:36
filed the suit years ago
01:16:37
you waited too long and clearly there's
01:16:39
you know you know other motivations like
01:16:40
just because google was successful
01:16:42
buying youtube
01:16:43
doesn't mean you can go back in and
01:16:45
unwind youtube because they did a great
01:16:46
job building youtube
01:16:47
99.999 percent of youtube success is
01:16:50
because of google
01:16:51
not because youtube they took a small
01:16:54
team and they
01:16:55
rebuilt that whole thing and they scaled
01:16:56
the heck out of it let me ask you a
01:16:57
question to sacks if these companies
01:16:59
paid more taxes
01:17:01
and got out of the censorship business
01:17:03
uh
01:17:04
do you think they could you know maybe
01:17:06
take a little wind out of the sales
01:17:08
yes yeah of course look the only reason
01:17:10
the only reason those 21 republicans
01:17:12
have now gotten on board
01:17:14
with regulating the power of these big
01:17:16
tech companies is they see
01:17:17
those big tech companies using their
01:17:19
gatekeeper power to restrict free speech
01:17:21
and it's all one-sided and it's partisan
01:17:24
against
01:17:24
you know their side of the aisle because
01:17:26
these companies are
01:17:28
populated generally speaking by people
01:17:30
on the other side of the aisle
01:17:31
and so you know big tech if they had
01:17:33
just reigned in their own impulses
01:17:35
to want to censor the other side they
01:17:37
would not be in the hot water they're in
01:17:39
right now
01:17:41
because it seems like facebook is
01:17:42
starting to backtrack on the trump ban
01:17:45
well they haven't twitter and i think i
01:17:47
think they got a big problem now no
01:17:49
look i think they should have been doing
01:17:50
this over the last couple of years
01:17:52
what they thought could never happen all
01:17:54
of a sudden became arbitrary
01:17:56
and the thing that they did was they
01:17:57
started to legislate
01:17:59
a private company started to legislate
01:18:02
power
01:18:02
and that's just a third rail issue the
01:18:05
minute you do that you have every
01:18:07
government in the world saying you're
01:18:08
saying to themselves wait a minute
01:18:10
i am only focused on this one thing
01:18:12
right
01:18:13
i don't take a huge salary i've been
01:18:15
grinding at the low levels of politics
01:18:17
for 40 50 years to get to this exact
01:18:19
place
01:18:20
and now i have a bunch of hipsters in
01:18:22
menlo park telling me what i can and
01:18:24
can't say
01:18:25
to the people that i worked a lifetime
01:18:27
to basically be able to govern over
01:18:29
i mean i you know yeah you can't it
01:18:32
can't stand
01:18:33
yeah so i think a big mistake that
01:18:34
zuckerberg made goes all the way back to
01:18:36
2016.
01:18:37
facebook basically bought into the
01:18:39
disinformation argument they apologized
01:18:42
for it
01:18:42
what zuck that was the time for
01:18:44
zuckerberg to fight he should have said
01:18:46
no
01:18:46
listen was the fsb were these bad actors
01:18:49
on facebook yes but when you look at the
01:18:51
total number of
01:18:52
impressions and page views it was like a
01:18:54
drop of water
01:18:55
in the ocean we're not the ones who
01:18:57
caused this election
01:18:58
to go the way it did obama used facebook
01:19:01
very effectively in 2008 and nobody has
01:19:04
examined
01:19:04
us then and that was the time to fight
01:19:07
that was the time to fight and to your
01:19:08
point david
01:19:09
he actually should have been even more
01:19:11
he said the reason trump got elected was
01:19:13
not
01:19:14
me but it was obama you know he could
01:19:16
have really gone on the attack
01:19:18
and he would have done himself well
01:19:19
hillary hillary just ran a bad campaign
01:19:21
if hillary had just campaigned in
01:19:22
wisconsin it would have gone a different
01:19:24
way
01:19:24
in 2016. so what zuck should have she
01:19:27
had an idiot team she had an idea she
01:19:29
had a terrible team and they were bad at
01:19:30
everything including facebook
01:19:32
including social media so zuck should
01:19:35
have said
01:19:36
listen don't blame us for the fact the
01:19:37
campaign was bad at social media you put
01:19:40
victory into the jaws of defeat uh
01:19:42
let's uh end on this u.s sprinter case i
01:19:44
think it's super interesting you're a
01:19:45
sprinter
01:19:47
richardson test positive for marijuana
01:19:49
and is suspended a month
01:19:51
putting her tokyo doubt uh she is the
01:19:54
gold medal
01:19:55
favorite in the women's 100 meter uh and
01:19:58
she could miss the games after testing
01:20:00
poverty
01:20:00
positive she said she smoked pot when
01:20:02
she found out uh in
01:20:04
oregon legally when she found out her
01:20:06
mom had died
01:20:07
um and it's on the united states
01:20:11
doping agency announced this result on
01:20:14
friday
01:20:16
her explanation is so [ __ ]
01:20:18
heartbreaking
01:20:20
i mean what are we doing here
01:20:23
well there was there was this is similar
01:20:24
to the golfer who was about to win the
01:20:26
pga
01:20:27
and got kicked out on the final day
01:20:29
because he tested positive for kova
01:20:30
without anything
01:20:32
outdoors he's outside guys
01:20:35
i cannot imagine a worse drug for a
01:20:38
sprinter than marijuana
01:20:40
yeah i mean for healing great but i mean
01:20:43
you're gonna like run the hundred meters
01:20:44
and
01:20:48
it's not a performance enhancing drug
01:20:49
what this is is this legalism
01:20:52
these bureaucratic legalistic
01:20:53
technicalities gone wild
01:20:55
in this case or this runner in the case
01:20:57
of the golfer i mean it's like
01:20:59
it's like the bureaucrats enforcing the
01:21:01
rules have completely lost sight
01:21:03
of what the purpose these rules are the
01:21:06
spirit of the rule is super important
01:21:08
um and there was a professional
01:21:11
snowboarder
01:21:13
and his name was ross galati
01:21:17
from canada and he wanted a medal and
01:21:20
they took his medal away
01:21:22
because he had thc in his uh system
01:21:26
and disqualified him and then they went
01:21:27
back and gave him his medal
01:21:29
back i believe and so
01:21:32
this is heartbreaking and ridiculous
01:21:35
and i i i'm not going to watch the i
01:21:38
love watching the olympics i watch a lot
01:21:40
of the olympics i really enjoy it um
01:21:42
i think it's awesome and i'm just not
01:21:43
gonna watch this this year [ __ ] it i i
01:21:45
just i'm so offended by this
01:21:47
like you want these people to take like
01:21:49
opioids for their pain
01:21:51
uh and suffering or you want to take
01:21:52
some antidepressant i mean
01:21:54
jesus christ jason look i'll also say
01:21:57
like in
01:21:57
in our friend group we have a handful of
01:22:01
nba players and i don't i don't think
01:22:03
you remember this conversation or maybe
01:22:04
you do
01:22:05
i think we were all together when they
01:22:07
talked about the
01:22:09
up until uh marijuana was more widely
01:22:12
used in the nba
01:22:14
yeah the pills that these players were
01:22:16
given
01:22:18
literally borderline opioids crazy
01:22:21
ripped their stomach apart
01:22:22
ripped everything apart you know created
01:22:25
dependencies
01:22:26
and all of a sudden you had a natural
01:22:28
alternative and people are
01:22:29
going to judge folks for taking i mean
01:22:32
these guys
01:22:33
are brutalizing their bodies for enter
01:22:35
for effectively our entertainment
01:22:37
and then we don't give them a reasonable
01:22:39
way to manage their pain it's outrageous
01:22:41
and everybody else is smoking a doobie
01:22:43
during halftime or taking a gummy on the
01:22:45
way home to sleep
01:22:47
i mean it's so hypocritical and it feels
01:22:50
like
01:22:50
i mean this country just feels like it's
01:22:52
being run by a bunch of bureaucratic
01:22:54
technocratic
01:22:55
leaders weenies and whether it's
01:22:59
whether it's we should give them a
01:23:00
wedgie and throw them in the locker
01:23:02
that's what we should do with this
01:23:03
whoever put this person they get a
01:23:05
wedgie and get thrown in a locker
01:23:08
i knew you i knew you were a schoolyard
01:23:09
bully jkl i'm not a schoolyard bully but
01:23:12
i do think the hall monitors
01:23:13
you know those people you were a wall
01:23:15
monitor
01:23:16
did you volunteer to be a home monitor
01:23:19
be honest no
01:23:20
no no no you were in the chess club i
01:23:22
liked our chess game sax
01:23:24
yeah okay this is how i knew this is how
01:23:26
i knew that jake out wasn't
01:23:28
real i knew i knew i had heard him okay
01:23:31
i knew he was genuinely hurt
01:23:32
but i knew he would get over it when i
01:23:34
got i saw my push notifications or
01:23:36
requests
01:23:37
from chess.com he started a chess game
01:23:39
with me
01:23:40
so i'm like how did i play because i'm a
01:23:42
neophyte he couldn't have easily he
01:23:44
couldn't be away from how easy was it to
01:23:46
beat me
01:23:47
as a 1200 player to my 600 yeah well the
01:23:49
chess.com analysis said that uh
01:23:52
i was never i was never in any danger
01:23:54
but uh i thought you played pretty well
01:23:56
and uh yeah give me a tip what's my tip
01:23:59
well you you didn't castle fast enough
01:24:01
you let me you left
01:24:02
you let me get that bishop out yeah you
01:24:04
let me trap your king in the center and
01:24:06
then
01:24:07
you know it was a but that but you did
01:24:09
good you did good
01:24:10
all right i knew i was okay with you
01:24:12
when i got to chess.com i think we need
01:24:14
a vegas trip
01:24:15
maybe we're all just a little cooped up
01:24:16
maybe we need to go to vegas do a quick
01:24:18
48 hour run this weekend
01:24:21
should we do a little 48-hour vegas run
01:24:25
all right everybody this has been an
01:24:26
amazing episode so
01:24:28
i'm officially unblocking saks and um
01:24:31
i even followed him love you chamoth
01:24:34
love you sacks
01:24:35
love you free birthday jkl i have
01:24:37
something to say to you as well
01:24:39
which is i appreciate you i i
01:24:55
rain man david sacks
01:25:02
and they've just gone crazy
01:25:15
[Music]
01:25:25
one big huge orgy because they're all
01:25:26
just useless it's like this like sexual
01:25:28
tension that they just need to release
01:25:30
[Music]
01:25:34
your feet
01:25:41
[Music]
01:25:53
what are those pants dude these are my
01:25:55
swim trunks whoa
01:25:57
swim trunks ah there they are the
01:26:00
internet famous legs
01:26:02
i mean these legs are actually but much
01:26:04
much bigger look look how big they are
01:26:05
oh please tell me you're recording nick
01:26:07
look at how big these are
