00:00:00
Let's assume his roommate was transitioning. I mean, who the [ __ ] cares? What does that have to do with
00:00:08
anything? Hi everyone, this is Pivot from New York Magazine and the Vox Media Podcast Network. I'm Cara Swisser
00:00:20
and I'm Scott Galloway. Why don't we just get started on this first? We have some competition as we tape. JD Vance is hosting the Charlie
00:00:26
Kirk show over uh on Rumble. announced on X. It would be an honor to quote, "Pay tribute to my friend." Charlie
00:00:32
Kirk's suspected killer, 22-year-old Tyler Robinson, is expected to be formally charged this week. He's currently not cooperating with
00:00:38
authorities. I think he's in that [ __ ] that mode since he did what he did. That's we seems, as we Scott and I have
00:00:44
talked about, to be terminally online. Um Robinson's motive is still unknown. There's a lot of speculation and
00:00:50
misinformation floating around. Uh uh Utah Governor Spencer Cox shared some details over saying Robin was
00:00:55
indoctrinated with leftist ideology and spent much of his time on the deep dark internet. I I don't he just uh they SC
00:01:04
Cox is saying that Robinson had a roommate and romantic partner who was transitioning. Again, they're not providing any details, so I'm not going
00:01:10
to believe anything including what Cox said. I think he is trying his best and he's getting enormous pressure from
00:01:16
Trump. But when asked it was irrelevant to motive, Cox said, "That's what we're trying to figure out, though." FBR director Cash Patel shared a link to a
00:01:22
Fox News story about it on X. I mean, literally make your own announcement, Cash Patel, if you don't mind, rather
00:01:28
than doing stuff like that. What a what an idiot he is. Um, so we don't know his motives at all. Again, as Scott and I
00:01:35
have been saying, let's find out. Um, obviously when you move to murder, uh, there's something very deep and, uh, and
00:01:41
and tragic going on and also possibly mental illness, too. Um, talk about you just talked a little bit about your overall thoughts in terms of what we know and don't know. And since you've been down a rabbit hole, I just don't
00:01:54
I'm not going to believe anything until a trial. That's my feeling. I just don't I don't trust Cash Patel in any way. I
00:02:00
think people are grabbing bits and pieces for their own. You know, the bullet was trans. No, it wasn't. The
00:02:05
shooter was trans. No, he wasn't. Oh, his roommate is trans. Well, I don't know. And so, I'm going to go with the
00:02:11
and I don't even know it has anything to do with it. Like that's the other thing is that's the really key part. Um so
00:02:17
your thoughts? Well, it's clear what's happened here. Um Governor Cox made the mistake of
00:02:25
acting like a leader. Mhm. and trying to take down the volume and not engage in the violence
00:02:31
entrepreneurship that the president and some people on the left but mostly people on the right
00:02:37
have engaged in to find an opportunity uh around violence to create advantage at the expense of potentially fermenting more violence. So let me go to the notion let's assume his roommate was
00:02:50
transitioning. Okay. So the [ __ ] what? If he had been in a relationship with a white girl in a sorority at ASU, does that mean this is
00:03:02
the Republican's fault? I mean, who the [ __ ] cares? What does that have to do with anything with
00:03:11
anything? I agree. His grandmother was like, "Where Magga?" I'm like, "I don't care. That has nothing to do with you." So,
00:03:17
thank you, grandma. And this all this all goes what's so frustrating for me about this
00:03:23
is look at the data and to try and figure out who the real culprit is such that we can stop this or reduce it the likelihood of it happening again.
00:03:34
98% of mass shooters are men mostly young men. Almost every act of political violence of course here's my rabbit hole. Let's just talk about the the right, mostly the right, but also the
00:03:48
left is doing everything they can from interpreting the font on these bullets to who their roommates are to find
00:03:54
evidence to cherrypick evidence to try and show that it's the other polit side of the political spectrum's fault. And
00:04:01
this is the bottom line. This kid, he was 22, was raised in a Republican household, registered unaffiliated,
00:04:09
and I I'm not sure, but I don't think he's voted yet. No, he didn't. Okay. Thomas Matthew Krooks, the person
00:04:17
who shot Trump and Butler, registered Republican and when he was 17, he gave 15 bucks to a voter registration drive
00:04:24
that used act blue. Luigi Manion, he was more mission and policy oriented in so much as he taken on corporate greed and healthcare as his cause, but he didn't come across as partisan or
00:04:37
of any left or right aligned political movement. Vance Luther Bolter, age 57, the alleged killer of the Minnesota
00:04:45
political figures. He was more politically oriented, but ultimately no more politically engaged than the
00:04:51
stereotypical angry uncle at a Thanksgiving who rants. Cody Allan Balmer, aged 38, arrested after the
00:04:58
attempted arson and to kill um attempted murder of Governor Josh Shapiro. No political associations beyond some angry social media post. David DuPage, age 42,
00:05:09
attacked Pelosy's husband with a hammer, broke into Pelosy's house, very online and immersed in conspiracy content, but
00:05:16
again, not a member of any group. And so each side is trying to blame the other,
00:05:22
and then media tries to play referee to get their ratings up. But this is the bottom line. What do we have in common
00:05:29
across all these acts of violence? They are almost always young men and they are
00:05:35
almost always not political extremists but extremely online. So if you just want to reduce how about we just reduce violence including political violence including mass
00:05:46
shootings. Let's figure out how we get more young men to engage with guardrails in the form of relationships. More male mentorship. More males in high school. More economic opportunity.
00:05:57
Yes sir. More safeguards. And how about we hold the rage machine that has been attached
00:06:02
to 40 that is driving 40% of the S&P's value. How about if we hold them to the same standards we hold every other media and say if you elevate content that has
00:06:13
been directly correlated to rage which results in violence mostly violence against themselves. Social media creates a lot of violence against themselves
00:06:25
among young girls. a lot of violence of young uh of young men against themselves, but also with young men
00:06:31
sometimes, and I don't mean to pathize, young men who are extremely online. Most of them will not pick up a gun, but some
00:06:38
of them do. So, if anyone is interested in actually reducing the violence, they're going to talk about removing
00:06:44
section 230 protection for algorithmically elevated content and providing more opportunity and more
00:06:50
empathy and quite frankly, more love and relationships for young men. Yeah, I'm gonna interject. Um, I would
00:06:57
say they don't want to do that. C groups do not when they want to engage in this sort of sharks versus jets kind of
00:07:03
situation that's going on. And it's like I have to say one thing I picked up my mother's phone. She had so she's somehow gotten on some Trump group things. Her texts were full of the most heinous
00:07:15
efforts to get money. Charlie's a martyr. Charlie's a this. You must fight the left who's trying to kill us. It was
00:07:22
so upsetting to read her text. I deleted every single one of them. I tried to block them all. Um it was such and her
00:07:30
email was worse. It was all these like efforts and you know it's fine JD Vance can go on his show but they're all doing it in order to raise money for themselves and to push their cause. He
00:07:42
is not This is just grotesque what they're like same thing with Donald Trump Jr. like they're all trying to push. They literally are walking over this guy and using him as like a a way
00:07:55
to raise money, a way to get people mad, a way to get political advantage. I mean, it it's grotesque at this point.
00:08:02
Like I I I have they forgotten their friend died or something like that. I just find it really strange. Like the
00:08:09
stuff on my mom's phone was so disturbing, Scott, I couldn't I was sort of like And then you have someone like
00:08:15
Elon Musk who is making it worse. like Democrats are the party of murder party party murder. He just was like we should he's putting out lists of people who said who said negative things about
00:08:26
uh uh Kirk uh he's done like a number of things that we we have to stop these people. We have to and now the words deindoctrinate. We have to it sounds like [ __ ] Russia. Like it's really
00:08:39
disturbing. Let's let's move to that because um people across the country are getting fired, suspended or investigated
00:08:45
over a post criticizing Charlie Kirk after his assassination. Washington Post columnist Karen Aia just shared a little
00:08:52
while a while ago that she's been fired over her blue sky post which are at best nothing like seriously nothing that
00:08:59
she's done here has that they're waiting to fire her. That's another story. But uh far-right activists have been doxing
00:09:05
people they say are celebrating Kirk's death. Um the def then they're just deciding what a celebration is and
00:09:10
what's not. Just regular criticism. Defense Secretary Pete Hex ordered his staff to identify military personnel who
00:09:16
mocked uh Kirk's killing so they can be punished. These are the free speech warriors. These are the people that went on and on about. So cancel culture they
00:09:27
used to their advantage and now they are doing cancel culture in full. They are the most cynical non-free speech people
00:09:34
I have ever encountered. And it's really astonishing how quickly they move to to
00:09:41
this thoughts. Well, again, it's it's term I like it's violence entrepreneurship. Um trying to
00:09:47
reap capital and advantage from an opportunity where you see violence. And two, the and another thing we're just
00:09:54
not talking about is the CCP and the GRU are having a field day. And do your own do your own research here. go on Tik Tok
00:10:01
or go on threads or Instagram or on Facebook or on Twitter and when you see something really inflammatory from either side, look at the comments. The algorithms elevate content that gets a
00:10:14
lot of comments because every comment results in the person uh the people who respond to the comment coming back and
00:10:20
that's another impression, another ad um more shareholder value. Look at the really heinous comments that would
00:10:27
likely inscent and do motivate more comments, more Nissan ads, more shareholder volume. Click on the
00:10:33
profile. It's someone with 38 followers. Yes, exactly. Guess what? If I were in the GRU in the
00:10:39
CCP and I couldn't beat us economically or kinetically, might I decide to do what is happening now and divide us
00:10:46
internally, make the call come from inside of the house? Y talked about this very specifically to
00:10:52
us. And by the way, the Nazis talked about it. I mean, we they have done a great job of convincing us, no, the threat isn't
00:10:59
massive energy, a willingness to kill millions of their own people, technology, the largest consumer economy
00:11:06
economy in the world, India, China, and Russia binding together to push back on our interests. We've decided, no, it's
00:11:13
some young white liberals saying really heinous things, and they are heinous things. So, let's elevate that content.
00:11:19
Or let's listen to senior adviser Steven Miller claiming that it's civil war against the Democrats. Let's elevate
00:11:26
that content by filling up anything with those feeds with bots with comments that
00:11:31
take that content beyond its organic reach on its own. And what Governor Cox initially said, go out and touch grass. Go out and touch people because generally what you find is well with their consent. But go ahead.
00:11:44
Go ahead. Don't just go touch people. Go out. Go out. I don't think that's right. I think we need to be more affectionate.
00:11:50
But anyways, and I also think we need a lot more sex and a lot more alcohol. Trust me, kids, the risk to your
00:11:55
25-year-old liver of alcohol is dwarfed by the risk of social isolation. I go to conservative places. I I meet a lot of
00:12:02
people in person. It is shocking how lovely people are. I get it. I agree with you. But I'm just
00:12:08
saying it's being for you've got speaking of you going down a rabbit hole. You have to get offline. Elon Musk literally just tweeted, someone said, "I
00:12:15
am now 100% confident that Charlie's assassination was carried out by Charlie's cuz he's a friend of his,
00:12:20
right? Uh was carried out by radical left-wing transgender terror cell. Let's get into the evidence." And then Elon
00:12:27
Musk tweeted, "Seems likely." Now, Elon, I'm sorry your kid's trans and you have this reaction. I'm not sorry your kid's
00:12:33
trans. I'm sorry that you're such a jackass about it and such a strange twisted person. But to do things like
00:12:40
this, just to create this, they I think they believe there's a transgender terror cell, which there isn't. But
00:12:45
fine, there's no evidence. The only evidence we have on mass shooters is the following. The overwhelming evidence is that there are young men who are
00:12:56
disenfranchised. This isn't about division. It's about the disenfranchised. This isn't even about I
00:13:01
would argue it's not even about political extremism. It's about being extremely online.
00:13:07
Yep. And you and I agree on this. You could get around the most hostile table of political, you know, you could
00:13:13
take Rachel Matto and Tucker Carlson, these shooters, these these folks committing this political violence. They are less politically affiliated than those two. These are people who have not
00:13:25
connected to others and have easy access to weapons, to guns, and go extremely online and don't have a good friend. Don't have a romantic
00:13:37
partner. Don't have in-person work. Don't have a male role model to say something's going on with you. What's
00:13:44
going on? What are you thinking? Where are you spending your time? What? What? No, that's not right. Come come to my
00:13:49
church group. You're going to see how good people are from both political spectrums. Hey, have we have we been
00:13:54
thinking about getting in better shape? Well, I noticed you're acting strange lately. What's going on? You know how much we care about you, right? Are you a
00:14:00
right? It it it's literally a case of um it's a it's a case of lack of mamalia. If you put an orca in a tank alone, it goes
00:14:11
[ __ ] crazy. Yeah. The worst thing you can do to a dog is leave it alone. And then when you put it in a tank where
00:14:19
they start pumping in sound waves to make the orca go crazy because whoever pumps in the sound waves can make
00:14:25
billions or trillions of dollars in shareholder value, which is effectively what's going on. 40% of the S&P right
00:14:30
now is represented by companies that have an economic incentive to divide us, right? And instead, we want to find dissect the font on a [ __ ] bullet so we can blame
00:14:41
the other side. This is it works so well. That's the thing. Let me go back to Spencer Cox because I people are like, you shouldn't
00:14:48
like him. I'm like, I'm going to a little bit. Okay. So, he has kept up his criticism of social media since you're doing it right now, calling it a cancer.
00:14:54
Uh, in an appearance on Meet the Press, he appeared to be taking notes from you, Scott Gallery. Let's listen. I can't emphasize enough um the damage
00:15:02
that social media and the internet is doing to all of us. Those dopamine hits, these companies, trillion dollar market caps, the most powerful companies in the history of the world, have figured out
00:15:14
how to hack our brains, uh get us addicted to outrage, which is the same type of dopamine, the same chemical that you get from taking fentanyl. Uh get us addicted to outrage and get us to hate
00:15:26
each other. I'm seeing it in real time since the tragic death of Charlie Kirk. I'm seeing it in in every corner of our
00:15:33
society. The conflict entrepreneurs are taking advantage of us and we are losing
00:15:38
our agency and we have to take that back. Conflict entrepreneurs. I love that. You should still have conflict ent. That's
00:15:45
exactly what they are 100. And the same conflict entrepreneurs, may I point out,
00:15:50
people like Elon and Jeff Bezos, who owns the Washington Post, are shutting down actual free speech, which people
00:15:57
should be able to do. Thoughts? At what point do we get serious about this problem? It's the media has a vested interest in pretending the
00:16:08
referee and in getting more clicks and more views. And notice how quiet big tech has been on this. They know what's going on. They know I I mean it's really
00:16:19
they'll try to shut down Cox. You know that you know anytime they anytime you arbitrage one
00:16:25
substance into another you have externalities. The greatest arbitrage in history has been fossil fuels to energy. You can't
00:16:32
build a hospital without massive fossil fuels. The externalities there carbon are obvious. the externalities of
00:16:39
turning attention into shareholder value. The externality there is rage. These guys know it. They they know what's going on. They know that they profit off of this divisiveness and this
00:16:52
rage. They're they're not bad people by commission. They didn't set out to do this. They are bad, irresponsible
00:16:59
Americans by efforts of omission. They are ignoring and obuscating what is going on here. They know what's going on and there are and also the illusion of
00:17:10
complexity has been weaponized here. There are common sense people are bereft and throw up their arms and say it's
00:17:17
only going to get worse. [ __ ] There are absolutely common sense solutions here. No social media under the age of
00:17:24
16. No smartphones in schools. They have banned uh phones in I think about 19 states. And that's with a lot of teachers telling me that kids can't wait to get to their phones even when they ban them.
00:17:34
Right. That's even a problem. That's okay. But at least they're not they're not I I don't think my kids are capable of of any longer sitting through a two-hour movie because of the way their brains
00:17:46
have been have been rewired. And again, it's political. I don't care. In the next 6
00:17:52
hours, there's going to be more gun deaths in America than there will be in the UK over the next 12 months. This is
00:17:58
is if we want to get serious, there are variety of programs, more after school programs, national service, more men in
00:18:05
primary uh education, more money for young people such that they're more economically secure and they start they
00:18:11
start mating 8 million houses in 10 years such that people have something to look forward to and a way to save money
00:18:17
and don't feel as is hopeless. Also, let me just take a page out of the right. We
00:18:22
have orientation at universities for a week. We have increasingly spent more time at orientation talking about mental
00:18:30
health and saying, "Look, if you're feeling bad because you get your first D. If you're feeling bad because you
00:18:36
haven't had a lot of experience with relationships and someone breaks up with you, that is a normal part of life. And
00:18:41
what has happened over the last 20 or 30 years is because kids are so sheltered with concierge parenting and with social
00:18:48
media, you might feel hopeless. It's not hopeless. Trust me, we've all been there. You need to reach out to
00:18:53
someone." There is something to the notion that these kids have turned into uh this oppress turned to this oppressed or oppressor ideology and are going on the hunt for
00:19:06
people that say certain things and you think that's changing Scott and now it's the right that's doing it. Just
00:19:12
let's be clear. I actually don't agree Carol. One out of three people on campus now believe that
00:19:18
political speech and certain words are violence and can warrant actual violence. And it is mostly from kids who
00:19:25
are strongly on the left. And hold on, let me finish. College should be a safe place physically. It should be a dangerous place intellectually. And we have to tell
00:19:35
these kids, and I've seen this firsthand. I've seen them turn it on each other. There's like two or three kids who are brave enough to support
00:19:41
Trump in my class and everyone turns on them. We are supposed to say provocative
00:19:47
offensive things. Can I make a point there? If they want to do that then they should be strong enough to defend it. Like that's
00:19:53
actually a good thing to critical thinking. Let's debate it. Let's debate it. Let them let them have it. Like but I have to say one of the
00:20:00
things you accuse the left of not you one accusing thing down is the people that are actually banning getting people
00:20:07
fired and are the free speech warriors are are all the free speech warriors and it wouldn't be so irritating that they were such free speech warriors lecturing us you know someone like Chris Rufo the
00:20:19
rest of them are now using cancel culture oppositely and it's just it's typical we have to move on but conflict
00:20:25
entrepreneurs Governor Cox has that right that's what they're trying to do and un unfortunately because this is a
00:20:31
dopamine hit we have we are we are drug addicts we are addicts but but you've already seen his narrative change and quite frankly
00:20:36
Governor Cox stick to being a leader. You can see, you know what happened over the weekend? He tried to go back again.
00:20:42
Other over the weekend, Trump called him and said, "Sign up, motherfucker." And all of a sudden, he's saying that there
00:20:47
was certain leftist ideology. No, there isn't. Certain leftist tendencies. He may have
00:20:52
had a roommate that was going through transition. Why would you even bring that up?
00:20:58
Doesn't matter. Doesn't matter. Doesn't matter unless they're there. No, it doesn't matter. Doesn't matter at all.
00:21:03
He he was dating someone that went to a gun range. This clearly is the rights fault. Said no Democratic governor ever
00:21:10
in the midst of this type of violence. Ever. Nothing about his grandmother. Great. His grandmother's MAGA. We're not blaming her. Who
00:21:16
cares? Right. Exactly. He likes Sydney Sweeney and her family is MAGA. It must be a conspiracy from
00:21:21
the right. Yes. Exactly. It's It's exhausting. People just pull yourselves out of it. Um, okay. Let's go on a quick break.
00:21:28
When we come back, Trump teases a Tik Tok deal. We'll see. Support for the show comes from Mint
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00:22:40
Scott, we're back. President Trump says the big US China trade deal in Europe is going quotequite very well. Who knows?
00:22:46
He posted on True Social that the two countries have reached a deal on TikTok that will make the young people very
00:22:52
happy. Uh, I don't think he named Tik Tok, but whatever. That's what he was talking about. Treasury Secretary Scott Besset, meanwhile, is calling the quote
00:22:58
framework of a deal, which always makes me like wonder what the hell's going on. Parent company Bite Dance is supposed to
00:23:04
sell US assets or face an nationwide ban by Wednesday the 17th, which is just a few days. Trump is saying he'll talk to
00:23:11
Xi Jinping on Friday. All this comes as China accuses Nvidia of violating antirust law. Uh, I don't know. It's
00:23:19
Everyone who's near this deal tells me it's such a fake deal. It's such a like that are really not separating them.
00:23:24
It's really not going to be anything but a lot of um fakery on top of what it is
00:23:31
and then they'll give some pretty stuff to Larry Ellison who seems to be winning
00:23:36
all all day long. Your thoughts? I just think it's [ __ ] I I I think this is a fake story. Let me use the Let me use the term fake news. I I just don't I don't
00:23:48
You don't do it with conviction. I don't buy it. I don't know. It's not It's fake news. It's from Yeah. Sure.
00:23:55
Okay. Sure. They're just trying to stave off that that deadline. Yeah. It's an excuse to to not ban Tik
00:24:02
Tok because Trump has decided that Tik Tok the CCP when they were about to be banned said dial up the algorithm to be positive Trump. And then somebody on his team came back and said, "Oh no, Tik
00:24:14
Tok's good for us." And all of a sudden he now likes it. and one of his biggest donors who gave him nine figures is one
00:24:21
of the biggest shareholders in Tik Tok. This is payforplay and he thinks it's good for him. So, he didn't like it
00:24:27
until he liked it. And also, this represents a breakdown in government because this was a law passed by both
00:24:34
houses, signed into law, and we've decided just not to do it. Yeah, it's ridiculous. By the way, Scott Dent is starting to really irritate me on so many levels. He's like such a
00:24:46
suckup and such a like he's punching people. I don't like that much either. I don't care if it's Elon he's punching. I
00:24:52
don't like him punching anybody. Well, I thought violence was never the answer. Carol, that's correct. I know. I just find it
00:24:57
so like gh. Anyway, yes. Scott and I will believe it when we see it and we think it's probably a lot of nonsense
00:25:03
and that you aren't going to be protected from the CCP with this gang. That's for sure. Um, OpenA is also
00:25:09
making some big moves on the way to becoming a for-profit company. This is something they've been trying to do. who Musk has been trying to stop fin that
00:25:14
they're finalizing terms for a new agreement with Microsoft. Microsoft is expected to take roughly a 30% take in
00:25:19
the reorganized company. OpenAI's nonprofit parent will also hold an equity stake valued over hundred billion
00:25:25
dollars, but attorneys general in California and Delaware say they still have serious concerns about user safety. Good for them and want to see
00:25:31
improvements before signing off on restructuring. Um, what do you think about this? I assume there'll be an IPO,
00:25:38
correct? that's that's the way it looks like it's heading once they get this through this idea of essentially a
00:25:43
for-profit company with a vague nonprofit hanging over it. Um, and again, Musk still has legal uh
00:25:50
challenges to a lot of this and he has a lot of allies still. I think it would be so interesting to see what OpenAI's
00:25:57
legal bills are and what's happened to the cadence of those legal bills because there is so much money on the line and
00:26:03
this thing is so just as there's technical debt you know you come into an organization and they've invested so
00:26:08
much in old mainframe technology that I was on the board of yellow pages company and they said when we actually fired the
00:26:14
CIO was when he came in and basically said you know it's going to take us 18 months to reconfigure the techn it's like it's a [ __ ] yellow pages company this isn't a cloud company and he kept
00:26:25
going on about technical debt. So the term technical debt means pre-existing investments make it just really
00:26:31
difficult to sort of untangle everything and expensive. I would love to know what the legal debt is at open AI and that is
00:26:38
this company has such an unusual corporate structure that they are trying to unwind. Yes.
00:26:45
And how much they've invested in legal work. I would love to know how much they're using AI. They must be spending
00:26:51
10 or$20 million a month on lawyers right now. I would love to know as a case study how
00:26:57
if and how they're deploying their own AI to reduce their own legal costs. That's so funny. But what about an IPO?
00:27:03
I assume if this gets through and the restructuring gets through, which probably it will given the money at
00:27:08
stake here because they're spending money all over the damn place. They got to they got to get cooking on the making
00:27:14
of the money. It's a really interesting question because there are 3,700 publicly traded companies right now.
00:27:19
That is down by 50% since 1997. It's down 17% just since co because every time there's an acquisition or a bankruptcy or a take private, it's like it's like in China
00:27:33
now there are more people dying than there are being people born. So the same thing there are more companies coming
00:27:38
off of the NASDAQ and the S&P than are going on. And we'll talk more about this. Some of it say it's regulation,
00:27:44
but more than anything, a company like OpenAI, I think OpenAI just did a secondary where they gave every employee
00:27:50
like a $1.6 million bonus. They can raise capital, they can acquire companies, and they don't have the
00:27:56
regulatory burden of being public. So unfortunately, unlike in 2003 when Google goes public
00:28:03
at effectively what was $2 a share and gives retail investors the chance to 100x their money, there's so much money
00:28:09
in the private markets that effectively as long as the company is still jamming its current investors and private market investors and institutions which tend to be wealthier Americans say no, no, no,
00:28:21
no. We want to hold on to all that juice ourselves. So increasingly you would have never had a company like Open AI
00:28:28
worth a half a trillion dollars having not gone public. So what does that mean? It means the retail investor no longer
00:28:35
has access to these great growth companies and these guys have less incentive to go public. And typically
00:28:42
when they do go public it's the following. All right the smart guys who really know our company have decided there's not much upside left here. We gotta we gotta find a group of people
00:28:54
who will turn this into a meme stock. Oh, I know public market investors, right? Just like what's happening with
00:29:00
Tesla. So, all of the juice, you know, the juice has been squeezed by the time these guys go public. Now, does that mean there's still not opportunity in the public markets? No, there probably
00:29:11
still is. But you would have never, it used to be it took a company seven years to go public. Now, it's 14. The really good
00:29:18
companies are staying private because they can get everything they need in the private markets now. Yeah. So, we'll see.
00:29:23
This is the seventh most valuable company in the world, I think, right now. It's not public. It's crazy. What's the
00:29:29
only one that I was thinking that was that really valid but never went public was Mars. Remember the Mars people never went public.
00:29:34
It was the Mars family. Also, it used to be a company called Becttel. And then before that, my biggest client in the
00:29:41
90s was Levi Straussson Company. Yeah. Yeah. And these were not like big companies because the only the only way
00:29:46
you could attract employees, make acquisitions, all of that good stuff was to be a public company. All of those things are now available in the private markets. So, I mean, we'll see what happens, but
00:29:58
they definitely probably will go public presumably. Correct. That's my I'm assuming they will at some point um when
00:30:04
when when when that moment passes. I I want to mention a bizarre moment from Tucker Carlson's interview with OpenAI
00:30:11
CEO Sam Alman last week. Carlson brought up a conspiracy theory about the death of an open AI whistleblower, which is
00:30:17
being pushed by Elon Musk, by the way, suggesting it was murder, not suicide, as authorities had ruled. Let's listen.
00:30:23
And if he was your friend, I would think he would want to speak to his mom or I did offer. She didn't want to.
00:30:30
So, do you feel that, you know, when people look at that and they're like, you know, it's possible that happened. Do you feel that that reflects the worries they have
00:30:43
about what's happening here? Like people are afraid that this is like I haven't done too many interviews where I've been accused of like Oh, I'm not accusing you at all. I'm just saying his his mother says that. I
00:30:56
don't think a fair read of the evidence suggests suicide at all. I just don't see that at all.
00:31:02
Well, now thank you, Inspector [ __ ] Cluso. What are you talking about? This is like This was the craziest thing.
00:31:08
Like, don't you think we should entertain conspiracy theories that there's a cult in, you know, there's a
00:31:13
whatever, a murderous cult inside of Open AI? I mean, I don't know why he sat down. I I was I couldn't understand why he would talk to this guy given I get
00:31:24
why he would, but ew. Ew. The whole thing was really strange. Tucker Carlson's gotten really strange.
00:31:30
This is like everything else. First off, Tucker Carlson now appears to be a fully
00:31:36
credentialed psychiatrist around self harm. Yeah. Uh because he's decided that this guy
00:31:41
does not qualify as one of the 25,000 people who every year decide I'm really down. I'm really depressed. And oh, by
00:31:47
the way, there's a gun upstairs. I I know what to do. Okay, first off, this is just all about
00:31:52
money. And that is Tucker Carlson, who I think is a bright guy, decided, "Oh, I know how to get this to be a Ted Cruz like viral moment and be number one instead of number four in podcasting and
00:32:05
make more money. I'll create a rumor in front of one of the most powerful people in the world that he's a murderer."
00:32:10
That's what he's saying right here. Yes, he is. That's what Sam was like. Murdered
00:32:16
this guy in some sort of thriller. And let's go back. Aside from the fact that while I think Sam Alman might be a sociopath and that
00:32:27
is ignoring the harm of AI because there is so much pressure on him to live up to
00:32:32
the incredible expectations and that's that is not a nice thing to say but I have a lot of fact patterns around all
00:32:38
these guys who in their hush tones pretend to give a flying [ __ ] and then go on to build character AIs with no
00:32:44
guard rails that result in real harm. I think I believe that there is no that economically it would be really stupid for Sam Alman to put out a hit on one of
00:32:56
his employees. I would agree. for a lot less money. He can give money to Charles Schumer and to
00:33:01
and and to to to Senator Cotton and make sure that there's no legislation that gets in the way or slows down AI or show up to a dinner and say, "Gee, President Trump, your big orange [ __ ] is like
00:33:14
nothing I've ever seen and it's so huge little and mushroom and you're such a great kisser." It is
00:33:21
so much easier and low risk for Sam Alman to pursue legal means of economic success than to order a hit on one of his employees. Sam Alman is already a billionaire. He is he would never risk
00:33:35
spending the rest of his life in prison. He would never risk the economic implosion of putting a hit out on his
00:33:42
own employees. and Tucker Carlson. In my opinion, no one should go on that show if they're going to be falsely accused of being a murderer for clicks.
00:33:54
Agreed. I agree. I think it's crazy that he sat there. I actually texted him. I'm like, "Oh, so you're a murderer. Good to
00:34:01
know." It's just ridiculous like that that this guy did this. Anyway, uh we don't believe he's murderer just
00:34:06
officially. All right, Scott. Let's go on a quick break. When we come back, Paramount Sky Dance tries to shake up
00:34:12
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00:35:08
important safety information, and restrictions. Scott, we're back in the small ball area. As I predicted last week, Paramount Sky Dance is praying for a mostly cash bid for Warner Brothers
00:35:21
Discovery, backed by the Ellison family, who's richer than ever. For those trying to keep score at home, Paramount itself was just acquired uh by Sky Dance last
00:35:28
month. And Warner Brothers Discovery has plans to split into two separate companies. One with the big studio and streaming properties, the other gets the
00:35:34
live cable networks. Uh currently Warner Discovery has double the market cap of Skyn. It's like it's a lot of money.
00:35:40
It's 30 some billion dollars. Um they this would be for all of it. So not to split it up. Um obviously uh they want the Warner Brothers studio and streaming properties. I'm not sure why they're not
00:35:50
waiting for the split. Um the bid hasn't been submitted. We'll see what the FCC thinks. Although that guy is a toad to
00:35:57
the Trump administration and if Ellison wants it will get it. Um and uh and uh you know we'll see. There'll be other biders presumably Comcast and some others if there are biders in fact
00:36:09
thoughts. Uh this is huge. Um in the last I mean because there's so much news this would
00:36:16
have been huge news. It's been drowned out. Warner Brothers Discovery who has the highest paid investment banker in
00:36:23
history. Their CEO convinced a bunch of investors to buy Warner Brothers from AT&T and in exchange for destroying a massive amount of shareholder value has taken out about a third of a billion
00:36:35
dollars. He's the most maybe with the exception of Chimath Palihapatia, he's the most well compensated investment
00:36:41
banker in history. Now what you have here is in the last five days the stock is up 55%. It's had
00:36:49
its best week in history. Why? because Larry Ellison figured out there should be a number two to Nvidia, stopped doing stock buybacks, made a massive bet on
00:37:01
being the number two infrastructure provider in AI, and announced an agreement where OpenAI was going to
00:37:08
commit to $60 billion a year in compute from Oracle, despite the fact it's only running at 10 billion a year. And in one
00:37:14
day, Larry Ellison increased his net worth $130 billion. So, he can afford this. Larry Ellison
00:37:20
could buy three Warner Brothers with the gain in wealth he registered in one day. And this is where it all heads. And I think it's [ __ ] fascinating. And I wish I had the time to do more about this, but instead I'm
00:37:32
spending a ton of time trying to talk about young men and its relationship to online speech and everything. Anyways, I went to go see the Fantastic 4.
00:37:44
I hope there is never a sequel or a sup superhero movie ever again. I I just I hate these superhero films. Yeah, this one didn't get good reviews. Superman did, but go ahead. Anyways, I love Vanessa Kirby. I think
00:37:56
Pedro Pascal is a movie star and my son loves superhero movies. So, we went and like all 15-year-olds, or not all, my
00:38:02
son makes me stay through to the very end because these goddamn movie makers always have an Easter egg at the very
00:38:08
end. Do you realize how long the credits went on for? How long? I've done it. I've done it, my
00:38:14
friend. So, I typed into AI approximately how many people worked on Fantastic 4. Somewhere between 12 and
00:38:22
1,500 people worked on that film. And I got screenshots on online. It had things like costume design Sweden and it had 20 people. This is what's
00:38:35
going to happen. They're going to roll up these companies and then at some point Larry's going to
00:38:40
go say to his son, "All right, I gave you a bunch of money to play in traffic. Now it's time to get serious. Are they
00:38:45
going to do that through innovation or new types of movies? No. This is what they're going to do. That movie probably cost $200 million to make before even
00:38:52
marketing. He's going to go, "We're very good at AI. We have the best AI infrastructure cloud relationships with LLMs. I need you, David Ellison, to come
00:39:02
here and we're going to figure out how to take a $200 million film and produce it for 20 million by going through each
00:39:11
each line item. Let's say costume design, 50 or 60 people. We're going to use AI,
00:39:18
the agentic layer that speaks to AI enabled fabricators in China. And we're going to need three highly skilled
00:39:24
costume designers to basically put in long prompts that use 3D imagering and all sorts of [ __ ] to basically get the costumes made with three people, not 20.
00:39:35
And they're going to go through each of these things that have 30 40 people and then we're going to reduce it to three
00:39:41
or four and it's going to happen at Ellison's company with the help and the urging of dad at Oracle Tik Tok involved with it too. The whole thing and you interesting you thought
00:39:52
this was like a nothing burger small ball. You always like parent who cares but you think this is a big deal or you
00:39:58
just in the world of media it is. But when I say small ball, if you can if you if Larry Ellison
00:40:04
had 15 kids, he could give each of them a paramount with the with the economic gain he had in one day.
00:40:10
Yeah. So there's the economy and then there's the economy which is AI. I mean everything is being driven. Who would have thought? You're about to see costume designers, 70% of them get their
00:40:23
real estates licenses in Hollywood because Oracle announced its best earnings in history.
00:40:30
This is impacting everything. Well, see, others will try to get this. Comcast will try to go for this. Maybe I
00:40:35
don't think they can afford it. Apple, that's the thing. He's so [ __ ] rich. This is the thing, Cara.
00:40:40
These are shitty businesses and they're declining. And I put together I was approached by a
00:40:46
group. Here's two examples of companies that are going to get the [ __ ] kicked out of them with AI. Gartner has this
00:40:53
amazing business where if you're a small regional bank trying to figure out, should we use Azure or or AWS, you call
00:41:01
a stay-at-home ma mom who's learned everything about cloud companies who lives in Madison, Wisconsin. She makes
00:41:07
200 grand a year. She works from 7 in the morning to 3:00 in the afternoon answering questions from clients. And Gartner charges First National of
00:41:14
Oklahoma $120,000. Now that person, the CTO, and they do a good job. It's an amazing business. Stock has tripled since 2017. They do an amazing job. Now the CTO at First
00:41:26
National of Oklahoma has figured out if they type in a thoughtful prompt, they can get the pretty much the exact same answer back for their $20 a month, you
00:41:34
know, GPT5 Pro subscription. And since the beginning of the year, Gartner stock has been cut in
00:41:42
half. And I think it's it I AI is going to come after that business. Only fans. I was approached by a group of people
00:41:48
that said, "We're putting together an investor group to buy only fans." Why are they selling? Because to do 60
00:41:53
minutes of video count with a live creator costs anywhere from $300 to $1,200 depending on the popularity of
00:42:00
that creator. AI is going to start to create AI girlfriends that get closer and closer to the thrill of watching a live person talk dirty to you or whatever. And the guys, the folks that
00:42:13
own Only Fans are like, "We're out. We have seen the future." I mean, you're going to see
00:42:19
so many so much of this stuff, so many interesting places. And here's the issue. Moving to solutions.
00:42:27
This is going to create so much economic value. Here's an idea. any company that does over a billion in profits, we have
00:42:33
a progressive tax structure of say 40%. And we figure out really thoughtful retraining and apprentice programs that people can sign up for and say, I see the writing on the wall. You know, I've
00:42:44
always wanted to be u you know, I've always wanted to be who knows. I've I've always wanted to be a Christ a therapist. I've always wanted to be a nursing. I've always wanted to be do
00:42:55
something in in with my hand. Whatever it is, retraining, right? But instead, we're like, let the thoroughbreds run and let the [ __ ] shake out where it where it is. That is correct. Guess where we are. We
00:43:07
he is now trained daddy from Gilded Age. That is what's happened here. Uh we'll see how that goes. It's not going so well for train daddy. That was almost as good as your your What was that? You were making a
00:43:18
reference to that 50s musical, The Sharks and the What was it? The Sharks and the Jets. Westside Story. I'm very trained.
00:43:24
Could you be any older? Oh, stop. Jesus. Train daddy. Gilded Age is very popular. I'm sorry to tell you that, but it's
00:43:29
owned by uh Warner Brothers, by the way. Speaking of which, she will now own Was that the one with uh Cynthia Dixon?
00:43:35
Yeah, Cynthia Nixon. Yeah, Cynthia Nixon, excuse me. Nixon. Yeah. Well, anyway, we'll see if they get it. I can tell you one thing,
00:43:40
Caris Wisher will not be working for the Ellison's. Let me just make that statement right now. Oh, who knows? No, I will not be I don't work for
00:43:46
Rupert Murdoch. I'm not Let me just say Let me just say I'm I'm here for there's enough money. Yeah,
00:43:52
I'm wrong. You can do it. I'm not. Cara doesn't need to. Daddy's a [ __ ] He's an expensive [ __ ] but daddy's a [ __ ] why they
00:43:57
don't pay enough. Honestly, I don't make as much money from that stuff as I do in other things. Anyway, uh one more
00:44:03
corporate shakeup very quickly. Trump is now suggesting that US public companies should no longer report earnings quarterly, but every six months. Um I
00:44:10
would think you might like this idea. I didn't hate it. I don't but maybe not. No, shareholders should know what's
00:44:15
happening at companies, although then people focus on the short term. Your thoughts very quickly. The reality is is that I mean there's a
00:44:23
fine line here. One, there's too much administrative and very costly burden on public companies. It costs $2 or3
00:44:29
million at least a year just to be public. More than that, CEOs, CFOs, IR professionals spend 2 weeks of their life every 12 weeks managing the
00:44:40
earnings call and trying to figure out the right words and legal liability and the fallout from the markets. So, it
00:44:46
makes sense that the administrative burden should lessen. Having said that, one of the reasons our market trades at
00:44:52
26 or 27 times PE and every other market trades from 22 to 12 is because of the regulatory burden. Orphans and widows are less likely to find out they own stock in Enron when they buy a company
00:45:05
in the S&P versus a company I was pitched by a hedge fund 10 years ago that said, "All we do is find fraudulent
00:45:11
companies in China and they're everywhere." Because the regulatory standards, and they have gone up the
00:45:16
last 10 years, weren't as high. So the whole idea of these regulatory standards is when you buy a company in the S&P
00:45:22
500, it may go down. It may not have a good future, but there's not there's much less likelihood of outright fraud
00:45:28
because of these regulatory constraints. Now, good private companies, every company I've run or been an investor in
00:45:35
that's a good company. We do effectively what is an earnings call every 3 months. However, it's not the same level of
00:45:41
regulatory burden. What I think what I think is going to fill the void of the delta quite frankly
00:45:47
and this is an opportunity is some sort of AI good seal of approval and that is okay company X if you send us your
00:45:54
financials and let us tap into your um APIs we're every 3 months going to put out a rating on the financial health basically these companies every 3 months are to signal growth and also to make
00:46:05
sure there's not fraud I can see an AI good housekeeping seal of approval better business viewer Rotten Tomatoes
00:46:12
which has become an arbiter of whether you want to waste your time that says it doesn't look as if this company similar
00:46:19
to a Fitch or a Moody's or an S&P. It doesn't look as if there is fraud here. It's got a 2% rating of fraud, not 99
00:46:27
because you probably Well, that calls for more scrutiny then, not less. You you you like six months or
00:46:32
do you not like six months? Oh, I like it because the the reality is the administrative burden. It goes back
00:46:39
to what we said previously. There's too few companies that are public and there's too few companies for retail investors to pick from. Part of the
00:46:46
reason companies are not going public is because of what has probably become burdensome regulatory oversight. Now,
00:46:52
it's a it's a fine needle to thread. You do want some disclosure requirements. I believe that AI will create a level of
00:46:59
disclosure and fraud protection should you decide to engage in with it that could give you a good good housekeeping
00:47:05
seal of approval that it's unlikely fraud is taking place here and there will be hopefully more public companies
00:47:12
because the reality is I if you can bet on whether there's civil war which you can right now in poly market should we really be infantilizing investors and not letting certain
00:47:24
companies go public for risk or belief that we need to protect them. Jesus Christ, people can bet on the Super Bowl
00:47:29
on their phone right now. So, if you know it's gone overboard, we need more public companies. We need retail investors to have access to more companies. I thought you would like it. I thought I
00:47:40
actually do too because the short-term thinking of all our companies is really problematic. I think in a lot of ways that's a bigger problem in the United
00:47:46
States in America, but still. All right, one more quick break. We'll be back for wins and fails. Okay, Scott, let's hear
00:47:53
some wins and fails. Would you like me to go first or Okay, guess what's coming back? Hunting Wives and they did the funniest say the L word or something.
00:48:04
No, that is maybe coming back. Um, uh, the Hunting Wives is coming back for season two. And they did I have to say
00:48:10
Hunting Wives. You need to watch it. Just watch it and then call me. Oh, wait. Is that the one where Charlie and
00:48:17
someone else make out? No, that's another one. There's plenty of lesbian things material going on these days, but no, it's this it's
00:48:24
magristian guntoing lesbians. So there you go. Christian gun toading le whatever just
00:48:30
what you said there. I'll see it twice. Exactly. So it's coming back to and they did the best. Malin and Britney Stow did
00:48:36
the funniest um announcement using a self like a cell phone conversation that was very hysterical and congratulations ladies and hoping to interview the creator of it because it's just such so
00:48:47
funny. It's exactly what we need at this moment. I have to tell you, it brings together MAGA and lesbians in a way
00:48:53
that's really satisfying. I don't know how they did it, but they did it. That is my win. My fail is Donald Trump and
00:48:58
his incessant lies. And especially Py, Bill Py, who is just a Nepo baby imbecile. They accuse this woman, Lisa Cook, of Morgan. Turns out it's [ __ ]
00:49:10
Registered as a vacation py. Oh my god. Stop it, you liars. They just they they raise a This is what they do. They raise
00:49:16
a lie and then they and then they and then it's not true but they've caused damage along the way. They do not care
00:49:22
about the truth and that is mil in any other place. So would cash Patel so would Pete he says so would Christino be fired for their incompetent their like rank incompetence but as long as they
00:49:35
salute at the at the at the leader dear leader they're going to stay in their jobs. But that guy is really a heinous
00:49:43
piece of [ __ ] And let me tell you, Billy, call me up. I come in to visit Caroser cuz what you did to this woman
00:49:48
is reprehensible in ter and I know why you're doing it. Um but it's grotesque and at some point uh this has to stop. I maybe it doesn't, but it should stop.
00:49:59
Anyway, that's my that's my fail. So funny. I don't know. One of my favorite movies
00:50:05
is a movie called Hannah and her sisters. Hannah. Yes. Yes. And there's a scene uh Max Vonido is having an affair with a
00:50:11
much younger woman who I thought was one of the most beautiful women and I'm dating myself but Barbara Hershey.
00:50:16
Yeah. And I always remember that movie oh god what was it with B Midler Beaches. Beaches. Thank you. And I just thought it was hilarious. I always joke that of course one of them gets cancer and dies
00:50:28
and everyone's crying at the end and I thought if B Midler was dying there would be there wouldn't be a tear in the not so I love that B. Midler.
00:50:34
Oh no. No. When it's the hot, sublime, beautiful one that dies of cancer, everyone's crying. National [ __ ] treasure. But go ahead.
00:50:40
I'm not I'm not making a statement on B. Midler. I'm making a statement on how looks we are. Anyways, but in the movie
00:50:47
Hannah and her sisters, uh, Barbara Hershey wises up and decides to to that she's going to leave Max Vonido and he's like he's panicked and he's upset and he's like, "You're my link to the
00:50:58
outside world. I feel like you have become my cultural link to the outside world. I watch Premier League football. Other than that, I don't turn the TV on anymore. Trust me on the hunting wives. Go ahead.
00:51:09
No, I I take your recommendations. I just wrote down the hunting wives. Anyways, okay. So, my fail is along the
00:51:14
lines of government incompetence. One of the most storied best brands in government institutions. One of the best
00:51:21
institutional brands in the world is the FBI. I've known some people worked at the FBI and universally they're these
00:51:26
low-key people who literally of competence and humility. They are the last people to go on social media and start saying, "I
00:51:37
have a suspect in in custody." And then have to go back and say, "Oops, idiot." The FBI typically doesn't speak. They speak with arrests, indictments, and prosecutions.
00:51:50
That is how they communicate. And with a workforce of incredibly talented people
00:51:55
who could make a lot more money elsewhere, but decide they want to serve their country. And what is the elite of
00:52:01
the elite of our law enforcement until [ __ ] Cash Patel who is there are so many reports inside of the FBI about what a bumbling idiot this guy is
00:52:13
announcing they have a suspect before it's confirmed and having to walk that back
00:52:19
firing competent people because they're a woman or person of color. Go ahead. And then the ultimate contradiction of
00:52:25
the speak softly but carry a big [ __ ] stick. That is the FBI is he goes on national TV and says on a press release and says and says and my friend Charlie
00:52:38
oh god you know rest now my he said rest now we have the watch I will see you in Valhalla
00:52:45
dude if this first off if this is your friend you should recuse yourself from the
00:52:51
investigation that every FBI director would have done. Yep. And this is not I I don't People
00:52:58
have the right to own their grief and miss their friend. I get that, brother. Good for you. And I think it's important
00:53:04
that men that men say how much they're going to miss their friends. That's not what the head of the FBI does. That that is the last thing that
00:53:14
a podcaster that is so opposite children's book author. That is so opposite of the FBI brand.
00:53:21
It's this have you no sense of the history of the FBI? No, they they they makes Jay Edgar Hoover
00:53:29
look they are just quietly very good at what they do tracking down bad guys. They don't go on social media anyway. The continued incompetence and
00:53:40
erosion of some of the best institutional brands in history run by people who are more for like there for
00:53:47
personal satisfaction than operational excellence. as evidenced by RFK Jr. and now Cash Patel who has no business running one of the finest institutions,
00:53:58
one of the best brands in the world. My win is New Mexico announced that they're going to basically have universal uh
00:54:04
child care and distinct of the morality of it. I'm not going to go to like, you know, mothering is the hardest job in the world. I've never bought that. I I fine. Okay. It's a it's a difficult job.
00:54:17
Most people are are pretty decent at it. I've never bought this notion. It's the toughest job in the world. Let's just
00:54:23
look at the economics of it. When you give people universal child care, it stimulates labor force
00:54:29
participation particularly among mothers who by the way are increasingly more educated and in higher demand for
00:54:36
information economy uh like jobs. It reduces poverty and income inequality. Right? Because child care costs can push working families into poverty or force them to no longer
00:54:48
work. It boosts disposable income and consumer spending. Because typically the person going to work when you have the
00:54:56
scale of universal child care such that it costs less for good care. Then they have this positive arbitrage where they have more money. Because when you send a
00:55:07
highly qualified woman into the workplace, she makes more money than the cost of good child care at scale. When
00:55:14
you get universal child care, it it strengthens the child care sector. As employers pay better, facilities improve, it creates jobs. It improves
00:55:24
future economic outcomes via better early childhood development, which means less remedial education, higher
00:55:30
earnings, etc. The return on investment studies show distinct of the morality and all the stuff about the toughest job
00:55:36
in the world. And it is the toughest job in the world. I'm going to keep my mouth shut. It's one of them. Go ahead. Well, okay. But the majority
00:55:43
literally both my kids were sick separate weeps and Amanda and I are about to like fall over dead. But go ahead. Go ahead.
00:55:48
I I I get it. But 90% of parents manage in my opinion to do a pretty good job. This is a different conversation for a different day. Yes. But if you look just there was a study at at at war the Wharton school at
00:56:01
Penn and it found that um child care expansion and child uh universal child care increases GDP by 0.1% um relative to even if you were to
00:56:14
deficit finance it even if you were to borrow money to pay for universal child care you get a positive return on that
00:56:21
investment. We are the only G7 nation that doesn't offer. So, I'm not going to make I don't want to make a far-left
00:56:26
argument around how difficult it is and mothering and mothers need help. All I'm saying is, okay, let's go for the money.
00:56:33
Let's create economic growth, more shareholder value, more household income, more Netflix, more trips to
00:56:40
Disneyland, more money to take care of our parents. How what is a way to get there? How do we get a positive return
00:56:46
on investment from the government? Universal childare. more money. I like your argument. I like more money. High standards. High standards. Ensure
00:56:57
that you're getting your money's worth. Every other Democrat nation does it, too, by the way. And it pays off. So, my Anyways, my fail
00:57:04
is Cash Patel undermining one of the great brands in institutional history, the FBI. And my win is this new uh
00:57:12
universal child care program being implemented in New Mexico, which creates economic benefits and economic growth.
00:57:18
Let me say woman a woman governor there. Men can do this too by the way. It doesn't matter. Do you hear the stress in my voice? I
00:57:24
sound like I'm ranting. No, you are ranting. That's okay. You know what? It's been a hard week. It's been a hard week. Um, we want to hear
00:57:31
from you. Send us your questions about business tech or whatever's on your mind. Go to nymag.com/pivot to submit a question for the show or
00:57:36
call 8551 uh pivot. Uh, elsewhere in the Cara and Scott universe, I recently spoke with Christoal Valenuela, the co-founder and CEO of Runway AI. We talked about how
00:57:48
Hollywood is using AI and why it's not necessarily a job killer. I didn't agree with this, but let's listen to him.
00:57:54
Technology will change jobs all the time. Look at the the history of film is a history of technology. It has changed
00:58:00
many times before through many of the decades we've seen. Um, and it wasn't really about the jobs as much as like the people doing the jobs. And so if you're um if you're hiring people, if
00:58:11
you're a guild member, if you're in a union, like well help your people understand how to use these tools, like train them. um uh get them on board with
00:58:18
the latest, understand how they can upskill what they already know. I think it changes a little bit the perspective
00:58:24
and I think that's that's been my my position so far. I think it's it's allows us to work alongside them in much
00:58:29
more productive ways. He's making a good case, but we'll see. Did he bring his crackpipe with him?
00:58:35
Okay. Okay. That's the show. Well, he's selling anyway. Uh okay, that's the show. Thanks for listening to Pivot and
00:58:41
be sure to like and subscribe to our YouTube channel. We'll be back on Friday. Scott, read us out.
00:58:48
Today's show was produced by Larara Neon, Zoe Marcus, Taylor Griffin, and Karen Ruff. Ernie Entertained
00:58:56
the video. Thanks also to Jubos, Miss Savial, Dan Shalon, and Kate Gallagher. Nishak Kuras, Vox Media's executive
00:59:01
producer podcast. Make sure to follow Pivot on your favorite podcast platform. Thank you for listening to Pivot from New York Magazine and Vox Media. You can
00:59:08
subscribe to the magazine at nymag.com/pod. We'll be back later this week for another breakdown of all things tech and
00:59:14
business. How do we grow our economy? Simple. Universal childcare.