00:00:00
I got to say, everyone's like, "Why is
00:00:02
Scott out?" And I'm like, "Uh." And
00:00:04
they're like, "Facelift."
00:00:11
Hi everyone. This is Pivot from New York
00:00:13
Magazine and the Vox Media Podcast
00:00:14
Network. I'm Carara Swisser and guess
00:00:17
who's back? Back again.
00:00:19
>> It's Audi Cornish.
00:00:21
>> You wish. She's good. You know what I
00:00:24
learned from her? She said something.
00:00:26
She had the best line
00:00:28
>> of any guest host. She said, "You asked
00:00:31
her for advice on the economy or asked
00:00:32
her for input." And she said, "No, this
00:00:34
isn't my area. I'm here to learn." I
00:00:36
have got I sent her a note saying, "I
00:00:39
took real notes from that cuz I have yet
00:00:42
to find the confidence to actually say
00:00:44
that I don't know and that everything
00:00:46
doesn't demand my judgment." Anyways,
00:00:48
Audi Cornish gets co-host or gets
00:00:50
substitute host of the week. How are
00:00:52
you, Car? Did you miss me?
00:00:54
>> I did. I need you to explain where
00:00:56
you've been to people. Sir,
00:00:58
>> I was presented with an opportunity to
00:00:59
bring potable water to the good people
00:01:01
of subsaharan Africa.
00:01:03
>> No.
00:01:04
>> Which is which is Latin for I have had
00:01:06
cosmetic surgery, Cara. Um and u
00:01:10
essentially
00:01:11
>> uh I just wanted to look natural and I
00:01:13
guess if looking natural means look
00:01:15
looking like you're surprised all the
00:01:17
[ __ ] time and your nose looks like a
00:01:19
minivan from the 80s, we've achieved
00:01:21
that. Cara, we have liftoff. So the
00:01:24
camera is off. Sorry folks, I'm I'm
00:01:27
confident enough to be transparent. I'm
00:01:29
not confident enough for the comments
00:01:31
that we would receive right now.
00:01:32
>> Yeah, you I have seen the pictures
00:01:35
picture pictures. Scott kindly sent me a
00:01:36
picture and I was at first I was like,
00:01:38
"Oh, come on. How bad could it be?" And
00:01:39
then I'm like, "Oh, no."
00:01:40
>> And there was no response. You usually
00:01:42
respond within like 10 seconds with
00:01:44
something really crisp and funny or
00:01:46
supportive. You're actually you're a
00:01:47
very people don't know this about you.
00:01:49
You're actually you're a very loving,
00:01:51
kind friend. People don't get that vibe.
00:01:53
And you were just silent for 15 minutes
00:01:56
and I'm like, is she gonna respond?
00:01:59
>> Anything?
00:02:00
>> You were off the tramodol by then.
00:02:01
>> I told I told my doctor I said I wanted
00:02:04
to look people have compared me to Ryan
00:02:05
Reynolds older brother and I'm like
00:02:07
that's the look I'm going for. And I do
00:02:09
look like him, but I look like his
00:02:10
grandfather after he's gone into witness
00:02:12
protection from literally trying to flee
00:02:14
narot terrorists and has had bad
00:02:16
cosmetic surgery in in Brazil.
00:02:19
>> This is good. I hope it's good. You're
00:02:21
gonna see. We're gonna see what what it
00:02:23
is. But uh when you have the big reveal
00:02:25
or something like that, I'd love you to
00:02:27
actually talk about that because men
00:02:28
don't talk most people don't talk about
00:02:29
their plastic surgery or or whatever.
00:02:32
And there's been a huge boom in men
00:02:34
doing this. Like
00:02:35
>> huge. It's the fastest growing part of
00:02:37
the market.
00:02:38
>> Yeah. Explain why you did it. I have
00:02:40
never had plastic surgery. I do not
00:02:41
judge it. A lot of people I know have
00:02:43
it. Um a lot of bls, that's what they
00:02:46
keep saying, the word ble to me. Um I
00:02:49
don't I think my mother had it. Like
00:02:51
tell me tell me it's mostly women. I
00:02:54
don't know a lot. I mean I do know some
00:02:55
VCs who have gotten it and I can't say
00:02:58
this was many years ago. It worked well.
00:03:01
But
00:03:01
>> I I am glad to be back with these
00:03:03
questions
00:03:05
>> masquerading as virtue signaling. What
00:03:07
is this not being able to make a [ __ ]
00:03:09
ton of money because you're not so
00:03:10
[ __ ] talented thing that people
00:03:12
complain about? Um
00:03:14
>> you are so going under the knife. Give
00:03:16
me a [ __ ] break. By the way, you were
00:03:18
asking me questions.
00:03:20
>> I never will. Never. Never.
00:03:22
>> Well, anyways, the the honest answer,
00:03:25
Cara, after having a lot of Xanax and
00:03:27
opiates to think about it is I cannot
00:03:29
for the life of me figuring out the
00:03:31
[ __ ] hole I am trying to fill here.
00:03:33
Um, I think it I think it I think it
00:03:36
comes from a lot of places. Um, I was
00:03:39
very insecure about my looks growing up,
00:03:42
as I think is probably natural for a
00:03:44
teenager. And then in my 20s and 30s
00:03:47
when I put on some weight and we've
00:03:49
talked about this and my skin cleared
00:03:51
up, I then got a lot of confidence for
00:03:53
my looks and I really like that part of
00:03:56
the program. And also I think in a
00:04:00
little bit of my business I have felt I
00:04:02
don't want to call it agism but I've
00:04:04
been really cognizant of my age
00:04:05
recently. A lot of people a lot of
00:04:08
people online are referencing my age to
00:04:10
criticize me like what does this guy
00:04:12
know? And also I think uh just more
00:04:15
practically I'm on I've been on TV a lot
00:04:19
because of the book tour and I've just
00:04:20
noticed the dark circles under my eyes.
00:04:23
And also to a strange I'm kind of
00:04:26
interested in the technology
00:04:29
and also the bottom line is if I have
00:04:31
[ __ ] you money I want to [ __ ] you face.
00:04:34
>> Okay. So you you said something really
00:04:35
interesting. You said it's mediation not
00:04:37
renovation. Although these doctors are
00:04:39
very convincing right? You weren't going
00:04:41
to do as much as you did or were you or
00:04:44
>> Well, I mean, it's very easy to get I
00:04:47
was going to just do my I was just going
00:04:49
to do my eyes and I didn't do a lot, but
00:04:51
I you add on stuff because
00:04:52
>> Can you explain what the eyes is? It it
00:04:54
>> Well, the circles around your eyes, you
00:04:55
have dark circles under your eyes as you
00:04:57
get older.
00:04:57
>> When people have hooded
00:04:59
>> Yeah. And what they do is very simple is
00:05:01
they transfer fat from other parts of
00:05:03
your body into the soft tissue that
00:05:05
creates the uh the dark circle.
00:05:08
And uh the temptation to keep adding
00:05:12
stuff if you're not careful is the
00:05:13
following. Everything heals at the same
00:05:15
time. And if you're going under the
00:05:16
knife, you just start thinking, "Yeah,
00:05:18
sure. I'll have fat transferred from my
00:05:20
hip to my chin." You just they they will
00:05:24
add on stuff. I had some crazy [ __ ]
00:05:26
laser that they wouldn't dare.
00:05:27
>> Do you have any fat? You're so skinny.
00:05:28
You're such a skinny.
00:05:30
>> Um yeah, I'm I'm entering that nice part
00:05:32
of my life where I'm skinny yet fat at
00:05:34
the same time, which is really
00:05:35
attractive. Uh but yeah, it's easy to
00:05:38
get upsold and it's it's I think I find
00:05:42
the whole thing fascinating. I've of
00:05:43
course made friends with my surgeon and
00:05:46
his team and I I'm I'm being serious
00:05:49
now. The most inspiring part of the
00:05:50
whole process
00:05:52
was I went to this place called Pearl
00:05:55
Recovery and it's this amazing
00:05:57
family-owned business where they take
00:05:59
over a floor of what is a fairly
00:06:01
mediocre hotel and they have nurses
00:06:04
around the clock looking after you. And
00:06:06
I had, you know, through through the
00:06:09
different shifts, four or five different
00:06:10
nurses and they were all out of central
00:06:11
casting. They were all the same person
00:06:13
in the sense that they were all
00:06:15
immigrants in their 30s and 40s, all
00:06:17
single mothers and all working their ass
00:06:20
off and the loveliest, most talented
00:06:22
women. It made me feel so good about
00:06:24
America. It made me realize how
00:06:25
important, again, not that I need to
00:06:27
know this, immigration is. These women
00:06:29
are work all women working four to six
00:06:32
12-h hour shifts all with a single all
00:06:34
with a kid all come to America all
00:06:37
making a good living they do get paid
00:06:38
well I think nursing is actually a
00:06:41
fantastic profession it's something that
00:06:42
will probably survive AI for a while and
00:06:45
they just couldn't they brought
00:06:47
expertise empathy humanity they were
00:06:49
great interacting with me they they had
00:06:52
great leadership skills occasionally I'd
00:06:53
be like no I don't I don't want to sleep
00:06:55
upright and they'd be like get your ass
00:06:57
upright I mean they
00:06:58
They were fantastic.
00:07:01
They were f Oh, no. They knew me. They
00:07:04
They all Google you. They all like, "Who
00:07:05
is this? Is this a star?" Because they
00:07:07
can't tell. And they'd be coming in and
00:07:09
they like They'd be coming. They like,
00:07:12
"So, I listen to a podcast." And I'm
00:07:14
like, "Oh, really? What' you think?" I'm
00:07:16
like, "Sit down. I'm going nowhere for
00:07:18
the next two days. Sit down and tell me
00:07:19
what you think." And they were just such
00:07:21
lovely women. It was really
00:07:24
>> I'm glad you had this this international
00:07:26
experience while you got your
00:07:28
>> Oh, it was fantastic.
00:07:30
>> Can I can I ask just one more question?
00:07:31
We'll we'll move on and we're going to
00:07:33
have a big reveal. Is did you what we
00:07:36
talked about whether you should say
00:07:37
anything and I said I am not going to
00:07:39
pretend if it looks really different and
00:07:41
it does. It looks slightly slightly
00:07:43
different I would say. And from what I
00:07:44
know we we don't know. I'm really
00:07:46
swollen right now. The reality is we
00:07:48
have no idea.
00:07:49
>> Your nose is very swollen. Yeah.
00:07:50
>> Yeah. We have no idea.
00:07:51
>> Yeah. I mean most when people get their
00:07:53
eyes done there is a refresh and you can
00:07:55
you assume that's what it is but what
00:07:58
they've done today everybody looks
00:08:00
pretty pretty good unless it's like you
00:08:02
know
00:08:03
>> this guy this guy's known for
00:08:06
>> I said the following thing I said I want
00:08:08
modification not transformation and if
00:08:11
we're going to air here and I kept
00:08:12
saying this we're going to air on the
00:08:14
side of underdone not overdone.
00:08:16
>> I see. And I think most surgeons
00:08:18
probably say this uh but they say the
00:08:20
key is that people think you look good
00:08:21
but they don't know how you you've had
00:08:23
anything done.
00:08:24
>> I see it looks it's it's it's Chris
00:08:26
Chris Jenner sort of is like you see you
00:08:29
remember once we were joking about
00:08:30
Jennifer Gray. Everyone noticed it
00:08:32
immediately cuz she changed her entire
00:08:33
look. Um and she got she got piled the
00:08:36
[ __ ] on. I used to I thought that was
00:08:38
very unfair. She wants to do that.
00:08:39
That's
00:08:40
>> you're a public figure. People if you're
00:08:42
known for your looks you're going to be
00:08:43
known for your looks. That's the bottom
00:08:45
line, Rene.
00:08:46
>> Yes. Well, that's what you're known for.
00:08:48
>> Yes, that's right. That's right. For
00:08:51
that.
00:08:51
>> Well, I virtually I'm not I don't want
00:08:53
to have any facial surgery done. I don't
00:08:55
>> Cara, it's not easy being a four. And
00:08:57
you know what's so scary is last night
00:08:59
>> always been a four.
00:09:00
>> Last night I was looking at Ferraris. I
00:09:04
have save me.
00:09:05
>> What?
00:09:05
>> Say I was looking at Ferrari. I don't
00:09:07
know. I don't know.
00:09:09
>> I really don't know
00:09:10
>> what is next.
00:09:11
>> I don't know. ED drugs. That's what's
00:09:13
coming next.
00:09:14
>> Yeah,
00:09:15
>> I'm trying to think. Oh my god.
00:09:17
>> No, I'm definitely I'm definitely
00:09:19
>> Scott. Well, you'll be dating the guys
00:09:21
from Heated Rivalry soon enough. That's
00:09:22
where
00:09:23
>> Jesus, those dudes are great actors and
00:09:25
they're hot. Did you watch
00:09:26
>> Oh my god, I could have won the award
00:09:29
for visual effects last night. I just
00:09:30
should have showed up and accepted the
00:09:32
rushed stage when they said and the
00:09:34
award for visual effects and they would
00:09:36
have figured out it was me. Our podcast
00:09:38
would be number one right now. We should
00:09:39
have won that
00:09:40
>> because I was at I was staying at the
00:09:41
Waldorf which is next to the hotel that
00:09:43
was having the visual and I walked
00:09:45
around with all this plastic surgery and
00:09:46
it was really strange. It was like
00:09:48
having a credential badge. They let me
00:09:49
go wherever I want cuz if you have
00:09:51
plastic clearly you have just had a nose
00:09:53
job. They're like, "Oh, they must be a
00:09:55
star. Let them in." So I could have
00:09:58
rushed the stage and picked up the award
00:09:59
and I decided definitely would have been
00:10:01
the award for visual effects. Oh
00:10:03
>> good. That we deserve the podcast award.
00:10:05
Honestly, Polar is very nice. That was a
00:10:07
weird dogs breakfast of a group of
00:10:09
podcasters. None of them were like each
00:10:11
other.
00:10:12
>> I thought, you know what though, I got
00:10:13
to give it to the Golden Globes. I read
00:10:15
the list of nominees mostly because we
00:10:16
aren't we weren't on it. But I thought
00:10:19
they did a great job. I thought all of
00:10:21
those podcasts Mel's great. I love Dak
00:10:25
Shepard. Was J Shetty in there. Who else
00:10:27
was it?
00:10:28
>> It was NPR. Stephen
00:10:30
>> Fantastic.
00:10:31
>> Yeah, Steve. Amy Puller, obviously. Um,
00:10:34
>> fantastic. Oh, the the guys from
00:10:36
Smartless.
00:10:37
>> Those guys are amazing. I thought I
00:10:39
thought, "Wow." I And by the way, I've
00:10:41
been on every one of them except for
00:10:43
Call Me Daddy
00:10:45
>> and uh Amy's. I've been on Amy's.
00:10:48
>> Um I was I don't know about you, I was a
00:10:51
little bit I don't know what the term
00:10:52
is, a little bit I don't say resentful.
00:10:54
I My understanding of Amy Polish, she's
00:10:55
a lovely person and I I haven't listened
00:10:57
to her pod. People love it. But I was
00:10:59
kind of bummed that it was someone who
00:11:01
felt like they were late to the game who
00:11:02
got it. I was kind of hoping one of the
00:11:04
original gangsters would have got it.
00:11:06
>> Yeah, the smartest guy.
00:11:08
>> But I thought I thought actually, you
00:11:10
know what? It's interesting. That's a
00:11:11
big mo I think that's a big moment for
00:11:13
podcasting.
00:11:14
>> Here's the only thing. There was an
00:11:15
interesting article in the New York
00:11:16
Times. It's like these are all the
00:11:18
others are so desperate and everyone's
00:11:20
in their place. You you can't really put
00:11:23
like they didn't have any narrative
00:11:24
podcasts which sort of began this. They
00:11:27
should split have more podcast awards.
00:11:29
That's all.
00:11:29
>> Well, that's what they'll do eventually.
00:11:32
They'll have best crime drama, best
00:11:33
episode, best best host. But they
00:11:36
already do that. I mean, we're up for
00:11:38
Webbbies again. And everyone wins a
00:11:40
Webbby. Everyone's like everyone's like,
00:11:43
you know, best male co-host who's going
00:11:45
through the mother of all midlife
00:11:47
crisis.
00:11:49
>> It's like they they've they've decided
00:11:52
the Webbies and the Streamies have
00:11:55
decided they need to make money, so they
00:11:57
charge you and they have a million
00:11:58
categories.
00:12:00
>> Yeah.
00:12:00
>> Yeah. Well, I don't that's fine. I think
00:12:02
it's it's a huge It's a 2.14 billion
00:12:04
dollar business now. I mean,
00:12:05
>> it's the fastest growing media. It's
00:12:07
growing now faster than Google or or
00:12:09
MetaF a smaller base. But
00:12:11
>> yeah,
00:12:11
>> we've said this before. It's because of
00:12:12
the audience we're attracting.
00:12:14
>> We're geniuses now. We're going to have
00:12:15
plastic surgery. They don't call it what
00:12:18
do they call it now? Is it plastic
00:12:19
surgery?
00:12:20
>> Cosmetic surgery. I don't know.
00:12:22
Pathetic.
00:12:23
>> I like you doing it cuz I'm I'm living
00:12:24
vicariously through you because I find
00:12:26
out all manner of nonsense.
00:12:28
>> You want to drive my Ferrari in Palm
00:12:29
Beach? Wait, did you buy a Ferrari, too?
00:12:31
>> I'm think I I the fact I'm even looking
00:12:33
at one. I Right now, I don't own a car.
00:12:36
Right now, I don't own a car. I I I I
00:12:38
literally I take the tube.
00:12:40
>> Coming back to the US.
00:12:41
>> I take the tube and I take this amazing
00:12:42
ride hailing service called uh uh
00:12:45
Wheelie. And when I'm in US, I take Lift
00:12:47
because I like the CEO. He's very
00:12:48
spiritual. I would like him to be my
00:12:50
rabbi. U But no, I don't I I haven't
00:12:53
owned a car in a bunch of years, but I'm
00:12:55
seriously trolling Ferraris. They're so
00:12:58
beautiful. I think they would say that
00:13:01
I'm refined and elegant and young lady,
00:13:03
you should have a random sexual
00:13:04
experience with me.
00:13:05
>> No, I don't think so. I think you should
00:13:07
think about a Chevy Bolt. Yeah.
00:13:10
>> Hasn't even entered
00:13:12
like you literally I don't know what you
00:13:14
could do. I don't know what the opposite
00:13:16
of an ED drug is, but that's what the
00:13:18
term Chevy Bolt is for me.
00:13:20
>> I am telling you, look how well I'm
00:13:21
doing with my Chevy Bolt. I'm
00:13:23
successful. I have a beautiful wife. I
00:13:26
just don't I think you have all of that
00:13:28
despite the Bolt.
00:13:29
>> No, it's
00:13:30
>> in spite of the Bolt. I think the Bolt I
00:13:33
think the Bolt does say, you know what,
00:13:34
I don't care.
00:13:35
>> Yeah, I'm looking at the new Rivian.
00:13:37
It's really cool.
00:13:38
>> Oh, those are great.
00:13:39
>> You know what? That is the Aspen car, by
00:13:41
the way.
00:13:42
>> And then I'm not looking at the Rivian.
00:13:44
Okay.
00:13:44
>> You say that when my house was ready in
00:13:47
Aspen, you're literally my house in
00:13:49
Aspen, you're literally going to be
00:13:50
like, "Hey, just FYI, I'm swinging by
00:13:52
Aspen." And it, no pressure at all, but
00:13:55
I'd like to stay there for the spring.
00:13:57
I'd like to stay there for the spring.
00:14:00
No pressure. You can say no, but I'd
00:14:02
like to meet Jeffrey Swisser and my
00:14:04
uncles and cousins and Lucky for the
00:14:06
spring. That is so coming. So, do not
00:14:09
mock Aspen. It is so I am waiting for
00:14:12
that. I it is is I think Aspen is a
00:14:15
little too much now. I used to like it.
00:14:16
It seems like something poppy.
00:14:18
>> A little too much. Awesome.
00:14:20
>> Awesome. All right. Okay. I do I'm
00:14:22
putting in my reservation now. All
00:14:23
right. We're going to move on from Scott
00:14:25
to Jennifer Granny Rene. We didn't
00:14:28
>> Welcome back Cornish.
00:14:30
>> Cornish Cornish.
00:14:32
>> Audi Cornish has not had plastic
00:14:34
surgery.
00:14:35
>> She has perfect skin. She has perfect
00:14:38
skin. That's what happens when you have
00:14:40
plastic surgery. You're sitting there
00:14:41
wrapped up like a [ __ ] mommy going,
00:14:43
"Atie Cornish has perfect skin." That's
00:14:46
That's my week.
00:14:49
>> Can you Can I tell you we want to thank
00:14:51
everybody who took filled in for you
00:14:53
during I'm a
00:14:57
>> Everybody
00:14:59
came Stephanie Rule and Bill Con. Thank
00:15:01
you.
00:15:02
>> She was spicy. I figured out Stephanie's
00:15:04
I came to so many observations under the
00:15:06
influence of opiates. Stephanie's peanut
00:15:09
butter and chocolate. is she is smart
00:15:10
and spicy. She's smart and spicy.
00:15:14
>> Oh my god. Where are you now? You had to
00:15:16
skip TV.
00:15:17
>> Oh my god. I had to fly back from LA
00:15:19
last night. I had to try and pretend to
00:15:21
sleep.
00:15:22
>> Hello. Hello, Lunesta.
00:15:24
>> And then I'm going after this. I go to
00:15:27
Miami for a speaking gig, which should
00:15:28
be interesting with this.
00:15:29
>> I was just there
00:15:30
>> with this face. Yeah. But my friend said
00:15:32
he saw you
00:15:33
>> and then I have to come back for another
00:15:35
speaking gig on Wednesday. And then I go
00:15:36
to Davos on Sunday. So I also
00:15:38
>> you also are being interviewed by me. So
00:15:40
I have to rethink that.
00:15:42
>> I'm not being interviewed by you.
00:15:44
>> Yeah. For my CNN thing. We're doing a
00:15:46
followup on our sound bar. Our sound.
00:15:48
>> Is that how poorly the show is going?
00:15:49
I'm on twice.
00:15:50
>> No, it's going great. It's going great.
00:15:52
Do you know where I am right now?
00:15:54
>> Where are you?
00:15:54
>> Morgantown, West Virginia. I'm going to
00:15:57
film at my dad's grave today.
00:15:58
>> But how do they relate that to health?
00:16:00
Or is it just what it's like to
00:16:01
>> It's about longevity. It's about try.
00:16:03
They're trying. I hate to say this, but
00:16:05
one of the feedback from the stuff we've
00:16:08
>> is your void of all emotion or humanity.
00:16:11
>> Take her to her father's grave.
00:16:13
>> She's faceeliftless. She needs a
00:16:14
faceelift.
00:16:16
>> She refuses to get her eyes done. Take
00:16:18
her to her father's grave and wide
00:16:20
angle. Focus back. Focus back.
00:16:23
>> No, they want more Cara. They want more
00:16:25
Cara in this in the series.
00:16:27
>> Yeah, more Cara.
00:16:28
>> We have so much to talk about. There's
00:16:29
You missed quite a bit. Just Just
00:16:31
saying.
00:16:32
>> Oh my god. She like crazy on your tram
00:16:34
at all.
00:16:34
>> First time first time in my life I was
00:16:36
scared to look at the news.
00:16:38
>> Really scared. I'm like, you know, I
00:16:40
think I'm just going to ignore the news.
00:16:41
>> Yeah.
00:16:42
>> Watch hot white butt sex on off the ice.
00:16:45
>> Okay, let's start that. The Justice
00:16:47
Department has opened, this just
00:16:49
happened yesterday, has opened a
00:16:50
criminal investigation into Fed Chair uh
00:16:52
Jerome Powell over the central bank's
00:16:53
renovation of its headquarters and
00:16:55
whether he lied to Congress about it.
00:16:56
The inquiry includes analysis of
00:16:58
Powell's public statements and spending
00:17:00
records. Powell called the investigation
00:17:02
unprecedented in a video released by the
00:17:04
Fed on Sunday. Let me say he's finally
00:17:07
said enough is [ __ ] enough. Let's
00:17:08
listen to the clip.
00:17:10
>> The threat of criminal charges is a
00:17:12
consequence of the Federal Reserve
00:17:14
setting interest rates based on our best
00:17:16
assessment of what will serve the public
00:17:19
rather than following the preferences of
00:17:21
the president.
00:17:22
This is about whether the Fed will be
00:17:24
able to continue to set interest rates
00:17:26
based on evidence and economic
00:17:27
conditions or whether instead monetary
00:17:30
policy will be directed by political
00:17:32
pressure or intimidation.
00:17:34
>> This guy is a [ __ ] corrupt octopus.
00:17:36
When asked about the investigation, not
00:17:38
not Powell, Trump. President Trump said
00:17:40
he didn't know anything about it. He's a
00:17:42
liar. Powell's term as chair ends in May
00:17:45
and his term as governor though runs
00:17:47
through January 2028. What in the world
00:17:51
is he doing? They've but they've been
00:17:52
lowering interest rates. I I think they
00:17:54
were going to keep them the same for
00:17:55
this particular next session. But what
00:17:58
in the world? He's going to get his guy
00:17:59
in May. What he he actually pointed
00:18:02
Powell, but let's move on from that.
00:18:04
Thoughts?
00:18:06
>> Well, before Chairman Powell released
00:18:08
that statement, there was a 15% likely
00:18:10
like likelihood that he would resign
00:18:12
before August. By the end of his
00:18:13
statement, it had dropped to 5%. And
00:18:16
that is the market where the wisdom
00:18:18
crowd said, "This guy's going nowhere.
00:18:20
He's very good. He nailed his speech. He
00:18:22
did exactly what he needed to do. He
00:18:24
wasn't defensive. He just stated the
00:18:25
obvious. This is prosecuting or
00:18:28
criminally pursuing your political
00:18:30
enemies. And I think even most
00:18:32
Republicans deep down acknowledge that.
00:18:34
Also, Republicans who are supposed to be
00:18:37
the ones that are more fiscally
00:18:38
responsible recognize that one of the
00:18:40
keys to the most prosperous economies in
00:18:42
the world. And the majority of western
00:18:45
economies that grow their economies
00:18:47
while not risking u spiraling inflation
00:18:51
have one thing in common and that is
00:18:53
they have an independent equivalent of a
00:18:55
monetary fund or or excuse me a monetary
00:18:58
association or a federal reserve that is
00:19:00
independent because of the following.
00:19:03
Presidents are under huge pressure to
00:19:05
perform and usually there's term limits
00:19:08
and they're only there for a limited
00:19:09
amount of time. So it would be almost
00:19:10
near impossible for them not to believe
00:19:13
that it would be good for them, the
00:19:14
country, and the world to lower interest
00:19:17
rates because people don't typically
00:19:18
realize
00:19:20
lowering interest rates is full stop
00:19:23
putting more money in people's pockets.
00:19:25
If you lower interest rates, you pay a
00:19:28
lower fee on your credit cards, your
00:19:29
mortgage, your auto loan, your student
00:19:30
loan. If you take mortgage rates or
00:19:33
excuse me, if you take interest rates
00:19:34
from 5% to 2%, you're putting somewhere
00:19:37
between a few hundred or a few
00:19:39
hundred,000 every month in the pocket of
00:19:42
consumers, corporations, CFOs. Everyone
00:19:44
in the short run is happy. But the
00:19:46
problem is you risk having too much
00:19:48
money facing few products. The supply
00:19:51
chain doesn't increase and you end up
00:19:54
with upward spiraling inflation. And the
00:19:56
thing about inflation going up is that
00:19:58
if people get to a point where they
00:19:59
start panic buying and that is they
00:20:01
don't hold the currency and they
00:20:03
constantly transfer it into goods, it
00:20:05
can spin out of control. And a lot of
00:20:06
revolutions start because of inflation.
00:20:09
The primary job of an independent Fed is
00:20:11
to say, "Look, we're going to appoint
00:20:13
you for 12 years and your job is not to
00:20:16
listen to anybody but the data and make
00:20:18
sure this entire society doesn't crumble
00:20:22
under massive spiral inflation." And
00:20:24
just a few data points on chairman pal.
00:20:26
He had an unprecedented increase in
00:20:29
rates when he saw inflation peak at 9%
00:20:32
and he's brought it down to about 2.8%.
00:20:35
He will go down arguably is one of the
00:20:38
most seinal figures uh uh positively in
00:20:41
terms of the US economy. The inflation
00:20:44
has mostly moved towards its target. He
00:20:46
avoided a deep recession. He pulled off
00:20:49
a Mary Lou Retin like sticking the
00:20:51
economy landing. Yeah, there was a
00:20:53
little complaint about a little too
00:20:55
much. Remember that part when they were
00:20:57
doing
00:20:58
>> everyone was complaining when he was
00:20:59
doing it. The far left is like you're
00:21:01
hurting Americans. The far right was
00:21:02
you're being you're hurting
00:21:04
corporations. But this is the bottom
00:21:05
line. He managed to cool inflation
00:21:08
massively while avoiding a recession. He
00:21:12
did.
00:21:12
>> People don't
00:21:13
>> I mean before this what is it called? He
00:21:15
kept something going too long and
00:21:17
>> easing. Quantitative easing.
00:21:19
>> Yeah. Well, Janet Yellen basically said,
00:21:22
and I've made this argument, we pumped
00:21:24
seven trillion dollars into the economy
00:21:25
and 85% of it wasn't spent. It's
00:21:28
impossible to argue we didn't overdo it.
00:21:30
Her viewpoint is the risk of overdoing
00:21:33
it are far outweighed by the risk of
00:21:35
undoing it. Yeah.
00:21:36
>> If you look at the real economic strife
00:21:38
throughout our society, it's when the
00:21:40
thing that that took the the Great
00:21:42
Depression and turned it in from a great
00:21:44
recession to a great depression is we
00:21:45
decided to tighten rather than loosen.
00:21:47
Anyways, also he's done, including up
00:21:51
until the point of the speech yesterday,
00:21:53
the Fed has maintained institutional
00:21:55
credibility and independence.
00:21:57
>> The the piece of insight is I think
00:21:59
everyone realizes this is prosecuting or
00:22:01
pursuing your political enemies.
00:22:03
>> James, those cases are all falling
00:22:05
apart, by the way. But go ahead.
00:22:06
>> They couldn't even get an indictment
00:22:07
against her.
00:22:07
>> Yeah.
00:22:08
>> Um the evidence, the grand jury or the
00:22:10
evidence presented, they said it's not
00:22:11
even worthy of an indictment. The the
00:22:13
piece of nuance that I found interesting
00:22:15
here, the the little bit of insight that
00:22:17
people may not know is the following.
00:22:19
This isn't about trying to intimidate
00:22:22
him into resigning. That's not what this
00:22:24
is about. This is about trying to
00:22:27
intimidate him into resigning from the
00:22:30
board of governors
00:22:32
because his role on this board,
00:22:36
basically on every board, this is the
00:22:38
dynamic. There's 12 board members, say
00:22:40
on a board, a public company board. It's
00:22:42
usually less than that, but let's say
00:22:43
it's 12.
00:22:45
There's everybody speaks, everyone nods,
00:22:47
and then there's one or two people when
00:22:49
they speak, everyone [ __ ] listens.
00:22:51
You got to believe that when chairman
00:22:53
Powell is just is no longer chairman,
00:22:56
but the governor, when he speaks,
00:23:00
everyone's going to listen. He's going
00:23:01
to have huge influence. And Trump Trump
00:23:04
wants him off. Trump wants someone Trump
00:23:07
wants a board of governors that is not
00:23:08
independent that will take interest
00:23:10
rates way down and give him the sugar
00:23:12
high he wants and if pal is still on
00:23:15
this board what we are going to have is
00:23:17
a much safer much more robust economy
00:23:21
anywhere
00:23:23
>> well even he he's done in May this is
00:23:26
about trying to get him to say
00:23:28
>> I get it I'm just saying he's not he's
00:23:30
not coming off the board there this is
00:23:32
like
00:23:32
>> I don't think so either
00:23:33
>> oh I think he's he wouldn't
00:23:35
This is not a man who makes a video like
00:23:38
>> this dude does not scare easily. He
00:23:40
didn't he didn't get on there and and
00:23:41
start being defensive about the actual
00:23:43
thing he's been accused of. He's like
00:23:45
he's basically said this is nonsense and
00:23:47
anyone with half a brain isn't even
00:23:50
going to get near this. Even Fox News I
00:23:52
don't think is going to go after him.
00:23:53
They realize okay this is a bridge
00:23:56
cockaman mean like well everything
00:23:58
they're saying now is coming out of
00:23:59
their mouths as a lie. So, I mean,
00:24:01
what's what's really interesting was
00:24:03
this video that he find there's a lot of
00:24:05
sudden push back in lots of different
00:24:07
places you're starting to see and um
00:24:09
including Republicans voting against him
00:24:12
particular AC subsidies. I have to say
00:24:15
this was this is such a like a signal of
00:24:18
you know what's incredible to me is he's
00:24:21
very active and everything he's doing to
00:24:24
me um is it I think it it's this one
00:24:28
reaped of desperation because he can't
00:24:30
this is not going to work and it does it
00:24:33
makes it makes Powell stronger that is
00:24:35
my feeling like this gives him much more
00:24:38
credibility to influence the Fed even
00:24:40
after he's gone you know he's going to
00:24:42
whoever he picks is no match for Jerome
00:24:45
Powell, even if he's not the Fed chair.
00:24:48
So,
00:24:48
>> I have never been more confident about a
00:24:50
future recipient of the Presidential
00:24:52
Medal of Freedom than Chairman Powell.
00:24:54
>> Yep. Yep.
00:24:54
>> I mean, he kind of right now he kind of
00:24:56
defines leadership.
00:24:58
>> Yeah. Maybe Miss Mat will give him
00:25:01
surprise. Well, anyway, let's go on a
00:25:04
quick break. When we come back, the
00:25:05
ongoing fallout from the ICE shootings
00:25:07
in Minneapolis. Support for this show
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00:26:27
>> Support for the show comes from Better
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That's betterhp.com/pivot.
00:27:21
>> We're back with more news. Thousands of
00:27:23
people across the country took to the
00:27:24
streets this weekend to protest the
00:27:26
killing of 37year-old Renee Good by an
00:27:28
ICE agent in Minneapolis.
00:27:31
This as Homeland Security Secretary
00:27:33
Christy Gnome says she's sending
00:27:34
hundreds more federal agents to
00:27:36
Minneapolis this week. Vice President JD
00:27:39
Vance and others are arguing that the
00:27:40
footage supports a claim of
00:27:42
self-defense. Most people don't well
00:27:44
most people aren't lying. Don't agree
00:27:46
with that. Meanwhile, Good's wife spoke
00:27:48
out saying on Wednesday, January 7th, we
00:27:50
stopped to support our neighbors. We had
00:27:52
whistles. They had guns. Um, you you
00:27:55
shared your thoughts with me, and you
00:27:56
know, this is uh this is a terrible uh
00:27:59
thing. And and and of course, you know,
00:28:02
I think people rightly point out that um
00:28:04
that it's it gets an enormous amount of
00:28:07
attention. This is a a white woman
00:28:09
coming back from school. I mean, the
00:28:11
narrative is really quite something, but
00:28:13
it still has sparked
00:28:16
protests everywhere. Um, because and
00:28:19
it's when it's especially when it's
00:28:20
combined with all these videos of these
00:28:23
thugs going around with masks on, um,
00:28:26
you see reaction from sheriffs and local
00:28:29
police who don't like it. They don't
00:28:31
wear masks. Um, talk a little bit about
00:28:33
what you you think is happening here
00:28:35
right now. Well, I just want to
00:28:36
acknowledge the point you referenced and
00:28:37
that the black community is like, "Yeah,
00:28:39
welcome to our world." The look, the
00:28:43
very founding of America, the very
00:28:46
principles and the reason why people
00:28:47
took so many risks and brought together
00:28:50
such thoughtful people to start this new
00:28:52
experiment called America, the very
00:28:54
cornerstone of why America was found
00:28:56
founded was to avoid this [ __ ] was they
00:28:58
didn't want an autocrat with unchecked
00:29:00
power that could harm them. And so this
00:29:04
in so many ways is just a violation of
00:29:06
everything we're supposed to stand for.
00:29:09
And the worst thing you could say about
00:29:11
uh Miss is that she was I don't even say
00:29:15
fleeing the scene, but leaving a
00:29:17
controlled environment without
00:29:19
permission. That is absolutely the worst
00:29:20
thing you could say about her, but
00:29:22
Department of Justice policy clearly
00:29:25
states you cannot discharge a weapon or
00:29:28
use lethal force when someone is fleeing
00:29:31
the scene. And I'm not even sure it
00:29:32
qualifies as fleeing the scene, but take
00:29:34
the worst interpretation of what she was
00:29:37
doing. You still cannot justify
00:29:40
>> That's right.
00:29:40
>> what this agent did. And also, if you're
00:29:43
in front of a jury talking about
00:29:45
situations like this, and look, federal
00:29:47
agents and police deal with very hot in
00:29:50
the- moment complicated situations.
00:29:53
>> And a lot of it goes to um what they
00:29:56
refer to in court as state of mind.
00:29:59
Let me give you this guy's state of
00:30:01
mind. [ __ ] [ __ ]
00:30:05
>> He put three bullets in the torso and
00:30:08
face
00:30:10
of a woman who has not physically
00:30:12
threatened him and then decided after
00:30:14
she had clearly been killed and ran off
00:30:18
the road to say [ __ ] [ __ ] That was
00:30:22
his state of mind. This is a tragedy on
00:30:26
a meta level for American principles.
00:30:29
It's obviously a huge tragedy for her
00:30:31
and her family. What was even more
00:30:34
disappointing and salt in the wounds of
00:30:36
the current state of America is
00:30:38
conservative media, including Fox, used
00:30:41
a lot of code words when describing Miss
00:30:44
Good. And I'm sure you saw this.
00:30:46
>> Oh, I saw it.
00:30:47
>> Uh, first off, a self-proclaimed poet.
00:30:51
[ __ ] She was an award-winning poet,
00:30:54
a divorced person. Oh, divorced people
00:30:56
aren't as worthy. And then the one I'm
00:30:58
sure you noticed, they kept referring to
00:31:00
her as a lesbian.
00:31:02
>> Yep.
00:31:03
>> Okay. The guy who shot her three times
00:31:05
in the face. I would bet 95% probability
00:31:10
he sleeps with women. That makes him no
00:31:13
more or no less guilty. And the fact
00:31:16
that she sleeps with women makes her no
00:31:18
less or more guilty of of anything or no
00:31:22
less a tragedy or a victim. And when Fox
00:31:25
consistently describes her as a lesbian
00:31:28
activist, what they're saying is, "Dear
00:31:30
viewers, we think you are such raging
00:31:33
[ __ ] homophobes that if we highlight
00:31:36
that this woman sleeps with other women,
00:31:38
you will have an easier time justifying
00:31:40
the murder of this woman because being
00:31:43
gay is a bad thing." In other words,
00:31:45
dear viewers, we think you too are
00:31:47
homophobic. All of this
00:31:49
>> took out a mouthy lesbian. That's
00:31:51
exactly what they're doing.
00:31:52
>> All of this coded language to try is
00:31:56
basically an acknowledgement that the
00:31:57
viewers of of whatever conservative
00:32:00
media starts using those words.
00:32:04
It makes no it makes no go. If we ever
00:32:06
get to a point of America, it makes no
00:32:09
sense in any trial or jury to talk about
00:32:11
someone's sexual orientation. I have
00:32:13
long said and and also I think the left
00:32:16
sometimes has a problem with wrapping
00:32:18
virtue around people if they're of a
00:32:20
certain special interest group. No,
00:32:22
they're no better and they're no worse.
00:32:24
>> This this had nothing to do with that.
00:32:26
It was terrifying as a you know because
00:32:28
I think it was someone who has there's
00:32:30
some personal thing happening here with
00:32:33
him and gay
00:32:34
>> well supposedly had another altercation
00:32:35
with a car.
00:32:36
>> Yeah. And I don't know something else.
00:32:39
>> Her heirs are going to be rich.
00:32:40
>> [ __ ] [ __ ] says a lot to me.
00:32:42
something else.
00:32:44
Um and so uh you know the the what
00:32:48
really look this guy is clearly a thug,
00:32:51
right? Just one and this is what they
00:32:53
hired. This is the the people that
00:32:55
killed all those people in Germany were
00:32:57
thugs. Hitler did not kill everybody. He
00:33:00
hired people who did so. And one of the
00:33:03
things um that you you notice from this
00:33:06
is the reaction from people who know
00:33:08
better. The JD Vances, the Christy
00:33:10
Gnomes, etc. and Trump himself who
00:33:13
immediately, you know, uh,
00:33:17
decided she was guilty no matter what
00:33:19
and kept pushing this thing before any
00:33:21
investigation. The only person who tried
00:33:23
to say, "Well, let's just wait and see,"
00:33:25
was of all people, Tom Hman. And then he
00:33:28
was slapped back like he was incredible.
00:33:30
He had the correct response, which is,
00:33:33
"Let's wait and see." Like, because, you
00:33:35
know, and of course now we we're living
00:33:37
in an era of video. And when they
00:33:39
release that thing and let [ __ ] [ __ ]
00:33:41
out, like they think that helps their
00:33:43
case. It sounds like this guy was in a
00:33:46
rage from someone and she her last words
00:33:49
of of her life were, "I'm not mad at
00:33:51
you, dude." Like honestly, the
00:33:54
juxaposition and her name good. Um, it
00:33:57
was and it's so clear what's happening
00:33:59
in that video. I think what's really
00:34:00
going to what's grotesque is and I have
00:34:03
to give credit to Jake Tapper for riding
00:34:06
Christy Gnome about this which was how
00:34:09
can you you she showed pictures
00:34:10
obviously of January 6 where they were
00:34:12
squeezing a police officer hitting them
00:34:14
with with um pipes and and and flags and
00:34:19
and squeezing one officer in a door and
00:34:23
they got pardoned you know and she was
00:34:25
like everyone gets the same law and he's
00:34:27
like but they don't and she goes
00:34:29
everyone get the same law. Then he shows
00:34:30
the pictures again and says, "She's
00:34:32
saying I'm not mad at you, dude." And
00:34:34
driving away. They are attacking police
00:34:37
officers. You cannot say this. I mean,
00:34:39
as far as I'm concerned, Christine Gnome
00:34:40
needs to be impeached and hopefully go
00:34:42
to jail. JD Vance is particularly losome
00:34:45
in this thing. And this
00:34:49
to me was sort of a shock. this idea of
00:34:52
like trying to impugn this victim long
00:34:54
before there's an investigation and then
00:34:56
not letting the state also be
00:34:58
participatory. This is not going to end
00:35:00
well for any of these people at some
00:35:02
point.
00:35:02
>> Well, the it's the administration has
00:35:04
been consistent. It's the Roy Con
00:35:06
communication strategy. Double down,
00:35:08
deny, attack, attack, attack. Never
00:35:11
admit any guilt. If they'd had a really
00:35:14
talented communications person with the
00:35:16
presidency, what would have actually
00:35:18
helped the administration is if the
00:35:20
president had done the following. I saw
00:35:22
the video. Quite frankly, I found it
00:35:24
very upsetting. Americans, you know, ICE
00:35:26
is there for a reason. Uh, I need to
00:35:29
review this. I need to see what the full
00:35:31
investigation says, but I found what I
00:35:33
saw disturbing. And then say nothing
00:35:34
else. I think that actually would quite
00:35:37
frankly have given ICE more cloud cover
00:35:40
and license if he had just said that. I
00:35:43
don't know if you remember when George
00:35:45
Bush they had video of when Saddam
00:35:48
Hussein was hanged and I remember him
00:35:51
saying yeah I watched the video and I
00:35:53
quite frankly I found it very disturbing
00:35:56
and I it was a real moment where you
00:35:59
said okay I feel better about this guy
00:36:02
being president. you know, as angry as
00:36:03
he was, as much military hardware as
00:36:05
he'd committed, he knew he had been he
00:36:07
had been sentenced to death, but he just
00:36:09
said, "I I found the whole thing
00:36:10
disturbing." They they would have helped
00:36:14
themselves if they had just said, "We
00:36:17
need to have a full investigation.
00:36:19
Anyone who saw the video, including us,
00:36:21
uh found this disturbing
00:36:23
>> and we need to investigate it. We need
00:36:24
to investigate
00:36:25
>> and we'll see we'll see what where the a
00:36:26
full investigation turns up."
00:36:28
>> I these people are out of control. I
00:36:30
mean, I've talked to a lot of this is
00:36:32
him unhinged with people, you know,
00:36:35
essentially his his low rent versions of
00:36:38
the SS with them. That's what it feels
00:36:40
like. My heart goes out to these the
00:36:43
children of this woman, which is um she
00:36:46
dropped a kid off at school and then
00:36:48
>> she had stuffed animals in her glove
00:36:49
box.
00:36:50
>> Yeah. I mean, there was a dog. This is
00:36:51
not a dangerous.
00:36:52
>> Yeah. Driving a Honda Pilot. It was like
00:36:54
something out of
00:36:55
>> Speaking of great cars.
00:36:56
this. Um, but he's also trying to roll
00:36:59
over uh big oil companies. He says
00:37:01
they'll invest hundred billion dollars
00:37:03
to rebuild Venezuela's oil industry, but
00:37:05
executives do not say this. And they did
00:37:07
not say it in public. Um, at a White
00:37:09
House meeting, oil companies expressed
00:37:12
interest but didn't commit to spending,
00:37:13
which means they don't want to. And I
00:37:15
have talked to several people and
00:37:17
they're they do not want to. with Exxon
00:37:19
CEO calling Venezuela uninvestable under
00:37:22
current conditions. Trump is now saying
00:37:24
he's inclined to keep Exxon out. I guess
00:37:26
he's doing them a favor. They don't want
00:37:27
to be there. He's also turning up the
00:37:29
heat on Cuba, warning the country will
00:37:30
receive zero oil and money from
00:37:32
Venezuela and telling them to make a
00:37:33
deal before it's too late. I mean, this
00:37:35
guy is like a mobster. If you were an
00:37:37
oil company executive, I mean, most of
00:37:39
them are like, I I no matter what he
00:37:42
says, they're not going to waste their
00:37:44
money on things. They've already lost.
00:37:46
He, as correctly, these oil executives
00:37:48
pointed out, they lost money there. It's
00:37:51
sunk costs that they're never getting
00:37:52
back. And they written down a lot of
00:37:54
these assets. They had to explain a lot
00:37:55
of this to him. Um, you know, which cuz
00:37:58
he's he just didn't have any idea what
00:38:01
seemed not to have any idea what had
00:38:03
happened in Venezuela. Um, so what do
00:38:05
you think about this? That was really
00:38:07
interesting for the Exxonic, the biggest
00:38:08
oil company to say, "Yeah, no, I don't
00:38:10
think so." Right in public at the White
00:38:13
House.
00:38:14
I I know what's going to happen here.
00:38:16
The the oil companies will just, you
00:38:19
know, give them a hand job, say they're
00:38:22
very interested in looking at it, wait
00:38:23
them out. But economics are going to win
00:38:25
here. And the economics at a very basic
00:38:27
level are the following. The type of oil
00:38:29
that Venezuela has, and it does sit on
00:38:31
the largest untapped reserves of oil in
00:38:33
the world, but it's heavy crude. And
00:38:35
heavy crude requires special chemicals
00:38:38
and more efforts to extract. And
00:38:41
basically the cost
00:38:42
>> fine.
00:38:43
>> Yeah, that's right. But the cost of just
00:38:44
of extraction are 70 to 80 bucks a
00:38:47
barrel. And right now in the open
00:38:48
market, it's at about 62 bucks. Now,
00:38:51
they continue to do that because they
00:38:52
have fixed costs they need to cover. But
00:38:55
right now with the current marketplace,
00:38:56
it just doesn't make an economic
00:38:58
argument for any incremental investment.
00:39:00
In addition,
00:39:01
>> big oil companies have made massive
00:39:03
multi-billion dollar investments in
00:39:04
Venezuela twice, and each of those times
00:39:07
their assets have been seized. So
00:39:09
they're kind of like, okay, fool me
00:39:10
once, fool me twice, fool me three
00:39:12
times.
00:39:13
>> We don't need it. They don't need it.
00:39:15
>> Well, there is something, and I will
00:39:17
come back to Venezuela because I have a
00:39:19
lot of thoughts on it, and I was I was
00:39:20
jonesing to talk about it. But what I do
00:39:23
think Rubio, but the president doesn't
00:39:25
seem to understand, is that while oil
00:39:27
has shaped the world, where it is now is
00:39:30
that it's not about the it's not about
00:39:32
the amount of oil. The US is a net
00:39:35
exporter. We have more oil than we need.
00:39:37
On an inflationadjusted basis, oil is
00:39:39
cheaper than it was 50 years ago. But
00:39:41
the control of the flow of oil is
00:39:44
actually very important because you can
00:39:47
in fact shut off without so 90% of their
00:39:51
oil experts from Venezuela were going to
00:39:53
China. There was a shadow fleet coming
00:39:54
in and out of Venezuela and it was going
00:39:57
to the people quite frankly that we
00:39:59
don't like. So the ability to turn off
00:40:01
that tap, if China, if you were able to
00:40:04
basically sequester China from supplies
00:40:06
of energy, they'd be out of business in
00:40:08
about 6 to 8 weeks and cannot wage war.
00:40:11
Whereas the US is energy independent.
00:40:12
That is a big
00:40:14
>> big deal. But for Exxon or Chevron or
00:40:18
name, you know, name your fossil fuels
00:40:21
company, they have shareholders and on a
00:40:24
riskadjusted basis, they look at this
00:40:26
thing. It might be worthy of some
00:40:27
incremental investment if they get
00:40:29
guarantees or backs stops from the
00:40:31
government or something like that to
00:40:33
upgrade certain facilities. But be
00:40:36
clear, this isn't going to be a massive
00:40:38
it just doesn't it doesn't pencil out
00:40:40
when oil is at 62 bucks a share. Now, if
00:40:43
oil goes to $110 a share, then they're
00:40:46
going to get, you know, they're going to
00:40:47
get their wallets out and say, "Okay,
00:40:50
we'll buy futures to lock in that price,
00:40:53
and we'll make sure that the president
00:40:54
gives us a sweetheart deal and security
00:40:56
guarantees from the Venezuelan
00:40:57
government." But the the old regime was
00:41:01
wildly corrupt. Guess who's there right
00:41:02
now? The same regime.
00:41:04
>> I know. So I it we're not going to see I
00:41:08
don't see in the near future a wave of
00:41:11
additional incremental investment
00:41:12
capital where you could see massive
00:41:14
investment capital is Chipotle and the
00:41:17
Four Seasons. There's a lot of companies
00:41:19
that are probably interested. I'm
00:41:21
actually more optimistic about Venezuela
00:41:22
than I am say about Iraq or Afghanistan
00:41:24
where you had basically these countries
00:41:27
that are a mishmash of different tribes
00:41:29
with borders drawn up by you know the
00:41:32
British. Venezuela has been a democracy
00:41:34
a many times. It's an homogeneous
00:41:37
population. I I'm actually quite
00:41:39
optimistic, not with this
00:41:41
administration, but I'm op optimistic in
00:41:43
general about the prospects. Anyways,
00:41:45
I'm getting off track. But we're not
00:41:47
going to see big capital investments in
00:41:48
the short term from from oil companies.
00:41:50
>> No, but it's true. And you have to think
00:41:52
about the economic benefits of this
00:41:54
country, right? I mean, in terms of what
00:41:56
he's done here. Um, and it was really
00:41:59
interesting because I think he expected
00:42:00
them all to follow the script and as the
00:42:02
tech bros tend to do. Um, and they
00:42:04
absolutely didn't. Which when he said
00:42:06
that I my head jerked up. I'm like, oh
00:42:09
wow, that's a big word. Un uninvestable.
00:42:11
Like it wasn't like, oh, it's
00:42:13
problematic, but we'll figure it out. It
00:42:15
was unin It was sort of very clear. Um,
00:42:19
and he was obviously irked by that. But
00:42:21
leaving them out, they're they listen,
00:42:23
he's not gonna be able to leave them out
00:42:24
if they want to be in there. They're the
00:42:25
oil companies. they'll do what they
00:42:26
want. Um, as as much as he thinks he
00:42:30
controls everything, because he likes to
00:42:31
say that the more he says I control
00:42:33
everything, the more I know he doesn't
00:42:35
in so many ways. But
00:42:36
>> we don't have an embassy in Karacus. We
00:42:38
don't have boots on the ground. I'm not
00:42:39
exactly sure other than the threat.
00:42:42
>> I'm not exactly sure how we
00:42:44
>> control to go there. Do you think
00:42:46
America Americans want to especially his
00:42:49
base, they absolutely don't want to go
00:42:50
there. I think Venezuela could be one of
00:42:53
the most attractive tourist uh
00:42:55
destinations in the world. Yeah.
00:42:57
>> If if this is handled rightly. This is
00:43:00
>> and again this might might have been me
00:43:02
thinking about this under the influence
00:43:03
of opiates. I think the analogy I would
00:43:06
use is a Bond film
00:43:07
>> and that is Bond films always have
00:43:10
amazing openings. They always nail the
00:43:13
opening
00:43:14
>> but then it goes on to be great, good or
00:43:16
awful. There's been some awful Bond
00:43:18
movies. There's been some great ones.
00:43:20
Whenever we do these adventures and
00:43:22
overseas conquest, it almost always
00:43:24
starts really well. We were able to do,
00:43:27
when I say we, I'm talking about the
00:43:29
best performing organization in history,
00:43:30
the US military. We were able to do in
00:43:32
35 minutes what Putin has not been able
00:43:34
to do in 35 months. I mean,
00:43:38
>> Ukraine, you're talking about in
00:43:39
Ukraine.
00:43:40
>> Yeah, I'm sorry. In Ukraine. Thank you,
00:43:41
Cara. This was such a flex and an
00:43:46
extraordinary demonstration of skill,
00:43:47
strength, and bravery from the US
00:43:50
military. I mean, just absolutely
00:43:52
extraordinary. Now,
00:43:54
>> if they hadn't won though, come on. It's
00:43:56
Venezuela. Sorry. Like, come on.
00:44:00
>> Single US fatality or casualty.
00:44:02
>> If there had been, I would have been
00:44:04
like, "What in the hell? How did we lose
00:44:05
one person in this?"
00:44:07
>> Oh god. Of course not. You have
00:44:09
mercenaries all around them.
00:44:10
>> No, I get it. They know they're coming.
00:44:12
You would have thought supposedly the
00:44:14
people on the ground there didn't even
00:44:16
hear them coming, right? They were hell.
00:44:19
This was such an unbelievably massive
00:44:22
flex. The problem is the administration
00:44:26
has not taken a note out of the most
00:44:28
obvious and best written geopolitical
00:44:30
strategy in history. And it's the
00:44:33
following. The Marshall Plan. All right.
00:44:36
We have the Imperial Navy which was
00:44:39
shooting surviving sailors in the sea.
00:44:41
We had the Third Reich which obviously
00:44:43
did some terrible things. So what did
00:44:44
the American people and our leadership
00:44:46
decide to do?
00:44:47
>> Give them money.
00:44:48
>> We invested in their nations.
00:44:50
>> Yeah.
00:44:50
>> And we weren't punitive. We invested. We
00:44:53
rebuilt. And what do you know? Germany
00:44:55
and Japan 80 years later are amazing
00:44:58
allies.
00:44:59
>> Well, we're turning on them now because
00:45:00
of Greenland.
00:45:01
>> Well, hold on. Let me let let's just
00:45:03
stick with Venezuela. the opportunity to
00:45:06
not say, "Give me your [ __ ] oil." and
00:45:09
and more deeply impoverish them and have
00:45:12
a transition government and then have
00:45:14
international uh voting oversight, free
00:45:17
elections, have our great institutions,
00:45:19
our great and companies encourage to
00:45:20
invest in Venezuela. Give Venezuelan
00:45:23
people a shot. Show them why democracy
00:45:25
and capitalism is so wonderful. Create
00:45:27
an amazing ally in Latin America.
00:45:29
>> Yeah, you're talking about the wrong
00:45:30
president. The movie could have been so
00:45:33
this is a Bond film. It started amazing.
00:45:36
Now we're gonna find out this may not be
00:45:38
a great movie because already he's
00:45:40
saying give me the oil.
00:45:42
>> Yeah. Pretty explicitly. So that's you
00:45:44
know related is both Greenland and Iran.
00:45:48
President Trump is considering very
00:45:49
strong options to intervene in Iran amid
00:45:51
a violent crackdown on anti-government
00:45:53
protests. He likes to help protesters in
00:45:56
other countries, but human rights groups
00:45:57
say over 500 people have been killed in
00:45:59
the last 2 weeks with over 10,000
00:46:01
arrested. PE other other estimates are
00:46:04
much higher. People are saying uh
00:46:06
reports are coming out of much higher
00:46:08
than 500. Internet access has also been
00:46:10
shut down. Telephone service, Iran's
00:46:12
foreign minister just a little while ago
00:46:13
that the country is ready for war but
00:46:15
prepared to negotiate. Um obviously most
00:46:19
most smart people on this issue whether
00:46:22
it's far there's all kinds of people
00:46:24
talking about it this this this regime
00:46:26
is facing some you know they have this
00:46:28
has happened before but most people feel
00:46:30
this is really bad for the regime which
00:46:34
is good for everybody. Um but uh uh
00:46:38
taking military action again is quagmire
00:46:41
feels quagmire and and rather dangerous
00:46:45
although it's the maybe the point to
00:46:47
attack because the this this country is
00:46:49
is on the brink I think from most from
00:46:51
what I can read from experts.
00:46:54
>> I can't think of a military operation
00:46:55
that has a higher ROI for the world and
00:46:57
for women and for feminism right now.
00:47:00
>> We have been here before where it looked
00:47:01
like the regime was going to fall.
00:47:03
>> Yeah. And uh because of the IDF and uh
00:47:07
the US air force uh we have taken out
00:47:10
Iran's air defenses. It is clear that
00:47:12
the MOSAD has penetrated the highest
00:47:14
levels in terms of uh soft assets and
00:47:16
espionage. We should absolutely be
00:47:19
supporting incredibly brave young women
00:47:23
and men who are risking their lives
00:47:25
every day and we should be striking
00:47:28
civilian support centers. We need to
00:47:31
help these folks finish the job. This is
00:47:34
argu we are on the precipice car of what
00:47:36
is arguably the greatest unlock for
00:47:39
women's rights and and to unlock what is
00:47:43
an incredible civilization and turn and
00:47:47
stabilize the Middle East for decades.
00:47:49
There is so in my opinion there is
00:47:51
nowhere in the world that canotes a
00:47:54
better reason and a bigger opportunity
00:47:56
for why we spend more than the next 10
00:47:58
militaries combined. We should be
00:48:00
coordinating with our allies in the
00:48:01
west. Although they're not going to
00:48:03
coordinate us anymore, but Israel will
00:48:05
coordinate with us and we should
00:48:07
absolutely be providing military cloud
00:48:09
cover and on the ground uh assets to
00:48:13
make sure that this isn't the 11th hour
00:48:16
for the regime. This is this is lights
00:48:18
out.
00:48:18
>> This is it right. Lights out. So again,
00:48:21
as you noted, this has happened before.
00:48:23
There have been protests across the
00:48:24
country and they've managed to tamp them
00:48:26
down over and over again. this regime,
00:48:29
>> but so many people still supposedly I
00:48:31
read this morning that 2,000 people have
00:48:33
been have been murdered.
00:48:37
>> The best way to end a war is to win it.
00:48:41
>> We have the resources. They have no air
00:48:43
defenses. We have assets. Russia is
00:48:46
preoccupied.
00:48:47
Uh
00:48:49
I I mean, I'm a hawk. I don't think
00:48:51
there's any reason to to spend$ 1.1
00:48:53
trillion dollars on the US military and
00:48:55
then not use it in situations like this.
00:48:59
>> So So what does that look like? Does it
00:49:01
look like again, you know, does it it
00:49:03
does it have that Bush feel to it that
00:49:05
that of course I suspect
00:49:08
much regret for the United States's
00:49:10
involvement there whether it was
00:49:12
Afghanistan or Iraq etc. I think I think
00:49:16
that's a fair question because the
00:49:18
reality is we are we are very good and I
00:49:20
think it would not incur much danger to
00:49:23
our men and women to filament regime
00:49:26
change here. The problem is is when we
00:49:28
decide to start trying nation build but
00:49:32
Iraq I think that that there is an
00:49:34
infrastructure and a populace and they
00:49:37
even you know everyone's excited about
00:49:39
the sha son potentially coming back and
00:49:41
he has said the right language he wants
00:49:43
to be a transition leader to free and
00:49:45
fair elections but the current what we
00:49:48
know is the current state is not good
00:49:51
for the people of Iran especially bad
00:49:54
for the women of Iran who have been uh
00:49:57
subject subject to what is arguably one
00:49:58
of the worst gender apartheides in the
00:50:00
world. Keep in mind Iran just a year ago
00:50:02
was considered the superpower of the
00:50:04
Middle East.
00:50:05
>> In addition, I mean,
00:50:06
>> when you look at geopolitics, you're not
00:50:08
only going to look at what's happened,
00:50:09
but what's not happened. Have the
00:50:10
Houthis been causing problems in the
00:50:12
Suez Canal? No. Has Hezbollah been
00:50:14
firing rockets into their neighbors? No.
00:50:18
We need to finish the job here. And just
00:50:21
personally having grown up at UCLA and
00:50:24
having friends David Ail, my mentor
00:50:28
Hamid Moadam,
00:50:30
Bak Baseri, Alex Dilei, I have never met
00:50:33
a group of people who are more American
00:50:35
than Americans than Iranians. And I
00:50:38
think they could actually be an
00:50:40
outstanding ally for us. I think the
00:50:42
cultures are much more similar between
00:50:44
the US and Iran than a lot of our
00:50:46
existing allies. Well then weigh in what
00:50:48
the hell he's doing with Greenland then.
00:50:51
>> I'll tell you exactly news conference.
00:50:53
>> I'll tell you exactly what's going on.
00:50:54
Cara,
00:50:55
>> it makes absolutely no sense.
00:50:58
>> It's all downside. Any anything they
00:51:00
that we say we want, they're like,
00:51:02
"Fine, put military bases here. Do you
00:51:04
want
00:51:05
>> Do we have rare earth?
00:51:06
>> We're allowed to." As Dave I injured
00:51:07
David Sanger, we can put them there.
00:51:09
There's there's
00:51:10
>> rare earth. Sure. What What's your
00:51:12
What's your idea? Instead, we want to go
00:51:14
to war with NATO. I mean, this one is
00:51:17
really out of a out of a I maybe you've
00:51:22
done some reporting here or talked some.
00:51:24
>> Here's what I think. This is what people
00:51:25
around. He just wants to take land to
00:51:28
show he'd be the first president to do
00:51:30
it since I don't know, Jefferson. I
00:51:32
whoever
00:51:32
>> like a real estate deal or something.
00:51:34
>> Yeah. Yeah. And he he he's someone was
00:51:37
speculating, you know, the map, it's
00:51:39
called a marator map, shows Greenland is
00:51:43
enormous, but it's actually not. It's
00:51:45
not as big as just because the way maps
00:51:48
are made. It's a real estate deal that
00:51:50
that he's obsessed with. Um, and of
00:51:53
course, it'll create so much damage to
00:51:55
our relationship with Europe.
00:51:57
>> If we start attacking an a NATO ally.
00:51:59
Yeah. I don't I don't This makes
00:52:02
>> Yeah,
00:52:03
>> I got to think even the administration
00:52:05
would go, "Uh, what are we doing?"
00:52:07
>> No, they seem to be going along with
00:52:08
him. They seem to like whatever crazy
00:52:11
[ __ ] comes out of his mouth. But we'll
00:52:14
see. Do you think he'll take military
00:52:15
action here? Prediction, Scott, and then
00:52:16
we
00:52:17
>> I don't.
00:52:18
>> Yeah.
00:52:18
>> Well, let me go this way. I think they
00:52:20
would just show up, but in Iraq. In
00:52:22
Iran. Yes.
00:52:25
>> I'm really hopeful. I think this is why
00:52:27
we have him. I think if if we're really
00:52:29
serious, I can I was trying to find what
00:52:32
Secretary Clinton thought about this cuz
00:52:33
the thing about Secretary Clinton was
00:52:35
she was always pragmatic, was always
00:52:37
willing to exert US force.
00:52:38
>> Oh, she loved it. She loved she loved a
00:52:41
bomb drop.
00:52:42
>> And she never she never forgot where she
00:52:45
came from and that is she always in the
00:52:47
back of her mind said, "We are here for
00:52:49
a lot of reasons, but we're here to
00:52:51
protect and advance the rights of women
00:52:52
all over the world."
00:52:53
>> Yeah. And there's a double whammy effect
00:52:56
there because the rights of women are
00:52:59
largely a forward-looking indicator of
00:53:01
your economic growth, prosperity, and
00:53:02
your move towards democracy. So there's
00:53:04
a lot of reasons to just
00:53:05
>> Trump is a well-known feminist because
00:53:07
you know that's
00:53:09
>> we are on the verge of such an enormous
00:53:13
unlock by toppling the Islamic Republic.
00:53:18
And unfortunately,
00:53:20
I I didn't watch the Golden Globes, but
00:53:21
I doubt there was very many mentions of
00:53:23
Iran because when you're
00:53:26
>> mentioned, Scott, let's be fair to them.
00:53:27
There was no political there was
00:53:29
>> there was there was hardly
00:53:31
>> Yeah. But quite frankly, I would argue,
00:53:32
you tell me, I would argue the amount of
00:53:34
mentions uh around Iran is is vastly
00:53:38
underproportionate or underwhelming
00:53:41
relative to its importance. And this
00:53:43
will trigger a lot of people, but I want
00:53:45
a spicy comeback. And I've decided my
00:53:47
theme for 2026 is zero [ __ ] given. It's
00:53:50
because of the moral color code. And
00:53:53
that is the media and progressives on
00:53:57
our side of the aisle, especially the
00:53:59
far left.
00:54:00
>> All right.
00:54:00
>> Uh get moral polaralysis when the
00:54:02
oppressors are brown.
00:54:04
And the number of people there I don't
00:54:06
see any flotillas. I don't see Greta
00:54:08
Tumbberg. I don't see actors talking
00:54:10
about what has been one of the most
00:54:12
oppressive, misogynistic,
00:54:14
anti-democracy.
00:54:16
Cara, they blind women.
00:54:18
>> I am aware of also
00:54:21
all of many of those countries which
00:54:23
they have protested against. Come on,
00:54:25
Scott. I mean, even if they're going in
00:54:27
the right direction, that government
00:54:28
should be eradicated.
00:54:30
>> So, let's let's let's stop there. And
00:54:31
the way we do that is is just as we
00:54:34
should be supporting the unbelievable
00:54:36
bravery of the Ukrainian people with our
00:54:39
military hardware and intelligence, we
00:54:41
should be supporting uh the brave men
00:54:43
and women of Iran right now. And we have
00:54:46
the ability to do it. We have
00:54:48
intelligence and technology from the IDF
00:54:52
and we have the muscle. It is time. It
00:54:55
is time to move to the next stage of
00:54:57
this incredible multi,000-year
00:54:59
civilization.
00:55:01
and the potential. I
00:55:03
>> I get it. I get it. We got to move on.
00:55:04
But let me just say if the goal is to do
00:55:06
that, threatening our allies over
00:55:07
Greenland is not
00:55:08
>> No [ __ ] sense. No [ __ ] anyway.
00:55:10
>> No [ __ ] sense.
00:55:11
>> All right, let's take a quick break.
00:55:12
When we come back, here's something else
00:55:14
you have an opinion on. California's
00:55:15
elite is not happy about a proposed
00:55:17
billionaire wealth tax.
00:55:19
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00:57:33
>> Scott, we're back with some more news.
00:57:34
Google co-founders Sergey Brenn and
00:57:36
Larry Page are cutting some business
00:57:37
ties with California ahead of a proposed
00:57:39
billionaire wealth tax in the state.
00:57:41
They aren't the only ones plotting for a
00:57:42
way around it. Silicon Valley leads have
00:57:44
been privately organizing to block the
00:57:46
tax through a signal chat group called
00:57:47
Save California. The tax would be a
00:57:49
one-time levy on people worth more than
00:57:51
a billion dollars. It's a couple hundred
00:57:53
people actually. It's not that many
00:57:54
people, but uh some of them are not are
00:57:57
not have a problem with. Jensen Wong
00:57:58
said he's perfectly happy to pay it. Um
00:58:01
uh at the end of the day, uh I'm not so
00:58:03
sure these people will cut ties. Uh they
00:58:05
all seem to come back to California over
00:58:07
and over again, and that's happening
00:58:08
right now. As you saw, San Francisco is
00:58:12
is is sort of back baby kind of thing.
00:58:15
um in general I know you have an issue
00:58:18
about this at the ballot passes um but a
00:58:20
lot of it's not a great look and I
00:58:23
suspect this is my feeling and I've been
00:58:25
talking to some of these people is
00:58:27
they'll have some sort of they I think
00:58:29
the smart ones understand the jig is up
00:58:32
on them being rich like being behaving
00:58:35
the way they're behaving and the image
00:58:36
of Silicon Valley and they know they
00:58:39
need to do something to to because they
00:58:42
I think they feel the smart ones do feel
00:58:45
that there is a real backlash against
00:58:48
enormous wealth and the gimmies they
00:58:50
get. And so I suspect behind the scenes
00:58:53
there's a deal at play here. Um but I
00:58:56
know behind the scenes there's a deal at
00:58:57
play. But uh thoughts that you have on
00:58:59
this. I mean I think these the Google
00:59:01
guys benefited from California. So did
00:59:03
all these billionaires the the the
00:59:05
wonderful state of California. And it's
00:59:07
not a great look the way they're
00:59:09
behaving. At the same time they can move
00:59:11
anywhere they want. So,
00:59:13
>> so if the objective is to signal to
00:59:16
billionaires that income inequality is
00:59:18
out of control and their weaponization
00:59:19
of the tax code has really damaged
00:59:22
America and created income inequality
00:59:24
that threatens and tears of the fabric
00:59:26
of our society and you want to reduce
00:59:30
receipts in the California government,
00:59:32
then this is your bill. Because this is
00:59:35
the bottom line, regardless of what you
00:59:36
think is right or ethical,
00:59:39
um billionaires are the most mobile
00:59:41
people in the world.
00:59:43
And uh this has been tried before and
00:59:45
whoever wrote this bill has just not
00:59:47
done the work. One of the people who's
00:59:49
senior in this
00:59:51
effort reached out to me thinking that I
00:59:53
would get on board with this and I said
00:59:54
there's no reason to do a call cuz I'm
00:59:56
against this. In 1990 there were 12
00:59:59
European countries with wealth taxes and
01:00:02
now only three remain. France repealed
01:00:05
its wealth tax in 2017. Sweden repealed
01:00:07
it in 2007. Finland 2006. Denmark
01:00:10
repealed its wealth tax in 1997. Ireland
01:00:12
repealed its wealth tax in 1978. Austria
01:00:15
repealed its wealth tax in 1994. Where
01:00:18
I'm living now in the UK, they have a
01:00:20
nondom act. And ethically and logically,
01:00:24
it makes a lot of sense. For a long
01:00:26
time, if you moved from Dubai or Hong
01:00:28
Kong to London and you were paying zero
01:00:30
taxes there, you got to bring your zero
01:00:32
tax status to London. That's kind of
01:00:34
unfair if you're using the UK
01:00:35
infrastructure. So, they said, "Buck
01:00:37
that. You've been here 5 years. You got
01:00:39
to pay UK taxes. Makes all the sense in
01:00:41
the world. Over a thousand million
01:00:43
10,000 millionaires have left. The UK
01:00:46
government is going to collect less
01:00:48
revenue this year, not more. Ethically
01:00:52
also or principally I'm against it
01:00:55
because I think once you get through the
01:00:57
gauntlet of taxes, it's private
01:00:59
property. And I think one of the things
01:01:01
about the West is we respect private
01:01:04
property. I don't think you can go after
01:01:05
people's assets retroactively. what they
01:01:07
should have done or what they should do,
01:01:09
and I love tax policy, they should have
01:01:12
an AMT. We don't care who you are and
01:01:14
how many tax goodies you've come up
01:01:16
with, you're going to pay at least 40%
01:01:19
above a million dollars AMT. Um uh
01:01:24
do away with a inheritance tax uh
01:01:26
deduction or vastly reduce it,
01:01:30
raise corporate taxes. There's better
01:01:32
ways to do this.
01:01:34
>> But impossible, by the way, because they
01:01:36
have all the money to stop every single
01:01:38
one of those things. I don't mind the
01:01:40
signal here to these people at all. And
01:01:43
I think it is a signal. I'm not so sure.
01:01:45
And I know there's some
01:01:46
>> I think higher taxes are coming for the
01:01:47
wealthy.
01:01:48
>> You are. It's enough with you people.
01:01:49
And I think the signal is enough to
01:01:52
begin the discussions. And they listen,
01:01:54
they don't look good. Like here's
01:01:56
especially the Google guys. They made
01:01:58
their fortune in California. So did
01:02:01
Elon, by the way. All of them did. And
01:02:03
to like kick it on the way out is such a
01:02:06
look of of greed. And it was really
01:02:08
interesting that Jensen Wong because he
01:02:11
probably knows it's not going to really
01:02:13
>> Jensen doesn't think this is going to go
01:02:14
through.
01:02:16
>> He's saying so he's saying,
01:02:17
>> "I'm a good guy. I'm one of you. I'm in
01:02:19
favor of this." He's not worried about
01:02:21
it.
01:02:21
>> He's not worried about it, but he also
01:02:23
knows he understands what's coming. See,
01:02:26
I find him much more canny. They're just
01:02:28
so [ __ ] dumb and greedy. Like there's
01:02:32
they just they just always have to react
01:02:34
when anyone wants them to do the right
01:02:35
thing. Like, oh, I don't want to have to
01:02:37
do what I want to do. That kind of
01:02:38
thing. And so, I think there's a real
01:02:40
interesting interplay here with these
01:02:42
wealthy people because I do think brand
01:02:44
Silicon Valley
01:02:46
is not good, is that?
01:02:48
>> Oh, no [ __ ]
01:02:49
>> You know, so they they need to make a
01:02:52
deal here. The UK is talking about UK
01:02:53
Australian talking about banning
01:02:55
>> banning X and it's only going to get
01:02:58
it's only going to get worse. I think
01:02:59
Europe is probably going to consider
01:03:01
banning Meta if this [ __ ] continues with
01:03:02
Trump. But just going back to tax
01:03:04
policy,
01:03:06
>> a better tax policy that would be more
01:03:08
effective. I mean, this is the problem
01:03:09
is this with this ballot and some of the
01:03:11
conversation we're having here is
01:03:13
something I've struggled with my whole
01:03:14
life professionally. The difference
01:03:15
between being right and being effective.
01:03:18
billionaires paying more tax in
01:03:20
California to support the incredible
01:03:21
infrastructure, the Cal State, the UC
01:03:23
system, the hospitals, the environment.
01:03:25
H absolutely, that's right. But the
01:03:27
question is how do you be effective? How
01:03:28
do you actually increase the treasury to
01:03:30
invest in the middle class and the
01:03:31
infrastructure that made these people
01:03:33
rich? And one thing you could do, it's
01:03:34
boring, but it would be effective is the
01:03:36
following. You get taxed when you
01:03:39
recognize a capital gain based on where
01:03:42
the wealth was accreted. So when Bezos
01:03:45
accretes whatever it is 80 or $120
01:03:48
billion in wealth and then he recognizes
01:03:50
it the tax authorities go okay it's we
01:03:54
estimate that 90 of that hundred billion
01:03:57
was accreted while you were a resident
01:03:59
of Washington state and so you are going
01:04:01
to pay Washington state taxes on 90
01:04:04
billion instead of like you know I'm
01:04:07
thinking about selling my stock I'm
01:04:09
going to piece out to Miami and [ __ ]
01:04:11
post San Francisco and then pay and
01:04:13
pretend that I'm seeing being my father.
01:04:14
I couldn't handle San Francisco politics
01:04:16
or homeless anymore. So, I'm piecing out
01:04:18
to a zero tax state and you can
01:04:20
literally be there for 12 months and
01:04:22
then recognize the entire capital gain
01:04:25
without paying anything back to the
01:04:27
great infrastructure. I think there are
01:04:28
much more much more elegant
01:04:30
>> I think this is the beginning of a
01:04:31
dialogue. I just I don't I don't know
01:04:33
but I have a they let me just tell you
01:04:36
they can walk you know do their angry
01:04:38
walk out of California but they're
01:04:40
coming for you folks. you're not. Nobody
01:04:43
likes you and they don't think you're
01:04:45
heroes and they don't think you're great
01:04:47
and they don't think what you've done is
01:04:49
great. And so if there's one brand
01:04:51
that's been more has has shot itself in
01:04:54
the foot more, it's Silicon Valley. Um,
01:04:56
not everybody, but a lot of people.
01:04:58
Anyway, um, one more quick break. We'll
01:05:00
be back for wins and fails. Support for
01:05:02
today's show comes from Upwork. If
01:05:04
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01:05:06
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01:05:07
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01:06:02
Okay, Scott, let's hear some wins and
01:06:04
fails.
01:06:05
>> Okay. Uh my win is actually
01:06:09
uh well
01:06:11
the the US military that executed the
01:06:14
capture of Madura, Delta Force, First
01:06:17
Special Forces Operation Detachment
01:06:18
Delta, which is an elite army special
01:06:21
unit. Um that led the direct raid and
01:06:24
the apprehension of Madora, the 160th
01:06:26
special operation aviation regiment. Um
01:06:29
and then there are these quiet
01:06:31
helicopters
01:06:32
just un night prowlers and then
01:06:36
supporting the uh our brave men and
01:06:38
women on the ground there where uh uh
01:06:40
elements from multiple
01:06:43
um units and intelligence mobility uh
01:06:46
the United States Air Force, United
01:06:48
States Navy, the Marine Corps all had
01:06:50
all had a role in this. I just think if
01:06:54
you think about kind of soft power, if
01:06:58
you think about America's influence
01:06:59
around the world, of the 7 billion
01:07:02
people in the world, 6.7 billion don't
01:07:04
live here and 6 billion are never going
01:07:08
to come here and four billion are never
01:07:10
going to have any interaction or 3
01:07:11
billion are probably never going to have
01:07:12
any interaction with an American to an
01:07:14
extent. So our ability to do business,
01:07:18
to continue to attract the best and
01:07:20
brightest, to convince them maybe not to
01:07:22
cooperate with people planning to come
01:07:23
here and harm us is based on our brand.
01:07:27
And part of that brand should be soft
01:07:29
power in a positive way. And that's why
01:07:31
the cancellation of USAD was so
01:07:33
terrible. But also some of it is is
01:07:36
quite frankly as Maline Albbright said,
01:07:39
Secretary Albbright said, are reached as
01:07:41
far in our memory as long. The brand
01:07:44
message of this military flex and how it
01:07:47
is executed has sent a chill down the
01:07:50
spine of every adversary globally. Jesus
01:07:53
Christ, did you see what they did and
01:07:55
how easily they did it? Uh, I think that
01:08:00
the win here and I I'm actually in favor
01:08:02
of the operation. US, Russia and China
01:08:05
were operating a shadow fleet. We also
01:08:08
actually didn't get enough press. We
01:08:09
seized a Russian tanker like it was
01:08:12
wiping sweat from our brow. They did it
01:08:14
so elegantly even though it was being
01:08:16
shadowed by an Achilas uh or class
01:08:19
Russian sub. It could be an amazing
01:08:22
ally. Anyways, we talked about this, but
01:08:25
my win is the best performing
01:08:27
organization in the history of of the
01:08:29
world and that is the US military. I
01:08:30
just don't I I'm just fascinated by what
01:08:32
people my loss here is the moral color
01:08:36
code of America where unfortunately my
01:08:40
business academics have created a
01:08:43
zeicist of oppressor and oppressed and
01:08:46
we've decided the shorthand for that is
01:08:48
the color of the skin of the oppressor.
01:08:52
And we go into moral paralysis, whether
01:08:54
it's in Sudan or Afghanistan,
01:08:57
uh, or in this case, Iran, when the
01:08:59
oppressors are brown. And I I just am
01:09:03
disappointed that there's not more
01:09:04
attention to what I don't think you can
01:09:06
call yourself a feminist if you're not
01:09:09
talking about, excited, and very
01:09:11
supportive of robust of robust action to
01:09:13
overthrow what has been one of the most
01:09:16
oppressive regimes globally. Uh, and I
01:09:19
just don't see that nearly the type of
01:09:21
coverage that some some other conflicts
01:09:23
have received. And I think it's because
01:09:25
in America we do have what I would refer
01:09:27
to as a a moral color code. And that is
01:09:30
the
01:09:32
the damage done to the oppressed, the
01:09:35
violation of human rights, the pursuit
01:09:37
of democracy,
01:09:39
the out of control misogyny are not what
01:09:42
dictates our response. What largely
01:09:45
dictates our response is the color of
01:09:47
the skin of the oppressor.
01:09:50
That's my fail. Also, I would be remiss
01:09:52
if I didn't credit a lot of my thoughts
01:09:54
around this to this this really
01:09:56
impressive woman who I had the pleasure
01:09:57
of meeting, a woman named Elica Leon.
01:10:00
And if you're not following her, you
01:10:01
should. Uh I think she's just so brave
01:10:03
and so thoughtful around issues as it
01:10:05
relates to Iran and other conflicts
01:10:06
around the world.
01:10:07
>> All right. Um, it's kind of funny you
01:10:09
say that because there was a story on
01:10:10
Fox about wine moms, white wine moms.
01:10:14
Oh my god.
01:10:17
>> I love that.
01:10:17
>> Now the lesbians and white wine the
01:10:19
women of white wine.
01:10:21
>> Oh my god. Jesus Christ. Jesus Christ.
01:10:23
>> That got started with that that
01:10:24
justice's wife who had drank wine and
01:10:27
hung the flag upside down.
01:10:28
>> Yeah. Oh, well, she's a different white
01:10:30
wine mom. She's the other side. Um uh my
01:10:34
win is uh well no let me do my fail
01:10:37
first. I just had them in my head and
01:10:38
now I've forgotten them. Oh what's
01:10:40
happening with Grock? Uh we haven't
01:10:41
talked about it and we we should on
01:10:43
Thursday but uh this and and the fails
01:10:46
are Apple and Google and of course Grock
01:10:48
as always is in terms of um allowing
01:10:52
child abuse and misogyny to just thrive
01:10:55
and pretending it's free speech. Um what
01:10:58
back in the day I feel like child
01:11:00
pornography was something we all agreed
01:11:02
shouldn't happen. Um the fact that these
01:11:04
companies haven't thrown Grock out or
01:11:06
demanded changes or anything or been
01:11:08
vocal about this issue and maybe they
01:11:10
are behind the scenes but I don't care.
01:11:11
They should say it publicly um about
01:11:14
what uh Musk has been doing at Grock
01:11:16
which is disturbing. There were pictures
01:11:19
of the woman who was killed in Minnesota
01:11:21
with bikinis on in his spicy mode. Look,
01:11:25
people are going to make these things
01:11:27
stupid anti-women things all the time,
01:11:29
but this is really repulsive when it
01:11:32
comes to um children and and and this is
01:11:36
something we shouldn't I'm going to do a
01:11:38
whole show on it because I'm just so
01:11:39
tired and I I do I I don't think the
01:11:41
media has paid enough attention to this,
01:11:43
but I don't think it's the media's
01:11:44
fault. So, I'm not going to like slap
01:11:45
the media for it. I I think Apple and
01:11:48
Google had have some influence here in
01:11:51
terms of the app store and everything
01:11:52
else. And um I I know for example that a
01:11:55
federal judge just ruled that the
01:11:57
lawsuit against open air should go to
01:11:58
trial and that's perfectly fine, but the
01:12:01
behavior of Grock is really pretty
01:12:02
heinous. And so um and if they're never
01:12:06
going to do something because it's Elon
01:12:07
Musk and he has no values whatsoever at
01:12:10
this point. Um but Apple and Google
01:12:12
certainly should and stand up and the
01:12:15
lack of standing up by many companies
01:12:16
these days is pretty disturbing on every
01:12:20
level. But this this to me is the most
01:12:22
disturbing that I've seen so far. And my
01:12:24
win is um my win continues to be uh
01:12:28
people that um you know that that are
01:12:31
standing up whether it's Jerome Powell,
01:12:33
whether it's even the Exxon executive,
01:12:36
he just said the truth out loud um about
01:12:38
things. This is an administration of of
01:12:41
cronies and hacks and terrible people
01:12:44
that are still doing damage even if
01:12:46
they're incompetent. And so anybody who
01:12:48
speaks out and says things, I'm really
01:12:51
and Jerome Powell this week sort of gets
01:12:53
that uh that for me absolutely even in a
01:12:56
small way. Um I I I don't love when
01:12:59
actors do it from stages. And I thought
01:13:01
actually Jean Smart at the besides
01:13:03
saying she's a greedy [ __ ] for winning
01:13:05
three times which was very funny was
01:13:07
really did it well. Like she said
01:13:10
something very clearly and at the same
01:13:12
time she understood. She's like, I
01:13:14
understand people don't like to hear
01:13:15
actors talking about these things, but
01:13:17
I'm a citizen and this we have to do the
01:13:18
right thing. I thought she did it in a
01:13:20
really classy way. So, that was a small
01:13:21
way. I think Jerome Powell is doing the
01:13:24
same thing. And I think everyone who
01:13:26
calls attention to all this [ __ ]
01:13:28
nonsense. Um, and also Jake Tapper for
01:13:31
doing that excellent interview with
01:13:32
Christine um deserves credit for for for
01:13:36
just saying, "Oh, come on. [ __ ]
01:13:37
enough with you people." Anyway, we want
01:13:39
to hear from you. Send us your questions
01:13:41
about business, tech, or whatever's on
01:13:43
your mind. Go to nymag.com/pivot
01:13:45
to send a question for the show or call
01:13:47
85551 pivot. Okay, that's the show.
01:13:50
Thanks for listening to Pivot and our
01:13:52
new Scott Galloway. She's so pretty. Be
01:13:54
sure to subscribe to our YouTube
01:13:56
channel. We'll be back on Friday. Scott,
01:13:59
welcome.
01:14:00
>> Stop laughing. Stop laughing.
01:14:04
>> I just I love every
01:14:05
>> It's lucky it's not at my expense.
01:14:07
>> I got to say, everyone's like, "Why is
01:14:09
Scott out?" And I'm like, uh, and
01:14:11
they're like, facelift.
01:14:13
>> No, it wasn't a facelift. Yeah, that's
01:14:15
coming.
01:14:15
>> Remember, that was what they said.
01:14:16
>> That's coming.
01:14:17
>> That's coming. All right, read us out,
01:14:19
you pretty little lady.
01:14:21
>> Today's show is produced by Laran, Zoe
01:14:22
Marcus, and Taylor Griffin. Ernie Todd
01:14:24
engineered this episode. Rich Shibi
01:14:26
edited the video. Thanks also to J Bros.
01:14:28
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01:14:30
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01:14:36
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01:14:41
We'll be back later this week for
01:14:42
another breakdown of all things tech and
01:14:44
business. I asked the surgeon just to
01:14:47
look natural and I think he misheard me
01:14:49
and said uh I want to look naturally
01:14:51
surprised.
01:14:53
I'm looking at Ferraris, Cara. I'm
01:14:55
looking at Ferraris.
01:14:58
What is the hole I'm trying to fill
01:15:00
here? What is the hole?
01:15:02
>> Oh, it's a big one.
01:15:03
>> See you later in the week.