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