US Debt Hits New Levels, China, JPMorgan Harassment  & Friday Funnies | Tom Bilyeu Show Live

Key Takeaway

The US debt now exceeds 100% of GDP for the first time since WWII. Unlike 1946, we're not spending to save the world—we're spending on fraud, bureaucracy, and optional wars. With a trillion dollars going to interest payments alone (14% of the federal budget), we're in a 'kill box' where the Fed can't raise rates without bankrupting the Treasury. The only path forward is financial repression—a 'soft default' that will eviscerate the middle class while the government tries to inflate away debt. Without an AI productivity miracle, this ends badly.

Episode Overview

Tom Bilyeu and Drew discuss the alarming milestone of US debt exceeding 100% of GDP, examining how financial repression—keeping interest rates below inflation—will impact the middle class. They explore China's ruling banning AI-driven layoffs purely for cost-cutting, debating the tensions between free markets, geographical economic realities, and government control as AI transforms the workforce.

Full Transcript

Transcript of US Debt Hits New Levels, China, JPMorgan Harassment  & Friday Funnies | Tom Bilyeu Show Live from Impact Theory. Auto-generated from episode audio; may contain minor errors.

Good morning, everybody. Welcome to another episode of the Tom Bilyeu show live. We are as live as it gets. Drew, what's up, my man? Happy Friday, bro. Happy Friday. Happy Friday. Happy Friday. We out here. People are saying you you hit some nice LA traffic on the way in. You know, I may I get here on time, though. I get here on time. They They are calling out it doesn't quite look like you. I got a I had a body double do the AI for me.

Um Ryan Coogler was my stand-in. Nice. You know, only the best for you guys. Only the best. Tip-top, everybody. And speaking of tip-top, the US debt now exceeds 100% of GDP for the first time since World War II. Republicans gave in on the shutdown and agreed to partial funding of DHS. FISA 702 was just extended so the government gets to keep illegally spying on you. I can't believe that one's real. China is refusing to allow corporations to fire people and replace them with AI as a cost-cutting measure and many Americans love the idea, but it's going to backfire spectacularly.

We're going to be going into that one. That's probably the one I'm most excited to talk about today. A Democratic Socialist is polling in first place in the LA mayoral race. That one's interesting. The more I dig into her policies, she's a mixed bag. So, this one's not only negative. That'll be fun to talk about. Rand Paul is going after Fauci. Man, if we've got any any any uh COVID people in the house, [snorts] [snorts] [snorts] yeah, Rand Paul's going after Fauci for his COVID-related crimes.

He's going pretty hard in the paint. He's also trying to end birthright citizenship, so I'll be interested to see if there's alignment for people on that one or if that splits people down the middle. Texas is out here showing the world that deregulation deregulation deregulation in housing does indeed work. Deregulate, deregulate, that's going to be a key thing. And Bryan Johnson has gone hyper-viral for a post about taste testing his girl's most holy of holy microbiomes. microbiomes. microbiomes. Wild. If you guys were on X last night, woo, buddy, you got a mouthful of something wild.

It was a crazy time. That's going to be like the new flicks now? Like, yeah, my girl got 99% biomes. Yeah, like Yeah, like Yeah, like Yeah, it's like 1%. It was crazy. I'm 1%. It was crazy. I'm obviously being coy for a reason, just in case. Every now and then I'll get somebody and this means actually a lot to me. I'll get somebody who's like, "Hey, man, I'm 12. I found your content. I'm, you know, taking this or that on board." And it's very cool and I feel a huge sense of responsibility uh to be a positive impact.

I won't even say influence, but a positive impact on people's uh lives when they're young. I think that's incredibly meaningful. So, I'll be a little bit coy so the parents don't uh feel too bad, though. I know that I can be unhinged later in the show, for sure. Um but that one was wild. The Bryan Johnson thing was wild. That That's hilarious. But, okay, we got to start it. Um you are king and uh king balanced the budget. Right now, we have a devastating stat that the US has officially has more debt than their GDP.

I know we always talk about US debt, but this one's a little bit different. So, give us the clarification on what actually this 100% thing means. Yeah. Yeah. Yeah. All right. For the first time since the year we won World War II, America now owes more in debt than it produces in a year. year. year. For anybody that's not sure about the difference, I talk often times about us being at 120% debt to GDP. The number that we're talking about today is just the debt owned uh owed to the public.

So, you've got intradepartmental debt that gives you the higher number and this lower number, which we're going to talk more about, uh is just the debt that's owed to the public. So, our debt now really does exceed our GDP and this time we can't blame it on needing to save the world from the Nazis. The current debt held by the public hit $31.27 $31.27 $31.27 trillion against a GDP of just $31.22 trillion. So, we're now at 100.2%. The all-time record was 106%, which we hit back in 1946.

Now, you guys will be excited to know that we're set to break that record by 2030 and we're expected to hit 120% by 2036, 2036, 2036, which would be catastrophic, by the way. And if we keep going in that range, you will have long past the 130% as you broaden out to that bigger number that I was just explaining. Uh so, yeah, if we don't right course, you can expect something very bad to happen to be measured in human casualty and blood. Now, when you're spending the money like that to beat the axis of evil, you can kind of justify the cost.

But, when you're doing it to support fraud, fraud, fraud, an absolutely staggeringly large government bureaucracy, and we'll call it an optional war, it gets a lot harder to justify and it will eventually break the US economy. Now, I know I beat this drum a lot, but the world really isn't getting it. Uh so, by way of arming all of us with the things that we need to be able to repeat ad nauseam so the people actually understand what's going on, uh the economy works on physics.

So, if we are we are we are exceeding our GDP, which you can think of as our ability to pay it back, so our debt has is now so far outpacing what we're actually going to be able to pay it back. We won't be able to pay it back and so there's a very specific way that this is going to play out, uh which is exactly, by the way, what happened after World War II. The way that you have to pay your debt back when it starts getting that big is something called financial repression.

I actually have a deep dive coming out on Kevin Warsh's approach, which I think is going to be financial repression. financial repression. financial repression. Uh so, Uh so, Uh so, more coming. Now, without an AI productivity miracle that creates excessively high-paying jobs, if we try to use the financial repression that we used at the end of World War II to dig our way out of this, we're only going to further eviscerate the middle class. If you want to understand the political violence that is on the rise, it is because the middle class has been abused.

So, to take this path, which is the only real path before us. The other's what's known as an honest default. That has its own problems. But, this is a soft default of um creating the financial repression, which we can get into the specifics of. If Drew asks follow-up questions, I certainly have uh the answers for you, but as of today, there's nothing that's being proposed other than that. Um Um Um what Kevin Warsh is talking about is more financial repression. He's not saying that, but that if you just read between the lines, it's very obvious that that's what he's actually going to do.

Um now, he's also counting on the AI productivity miracle, but I think at this point that's best understood as hopium. Look, I'm a huge believer in AI. A huge believer in AI. However, until you actually see that coming through uh in the actual economic data, counting on that before it happens, I think is extraordinarily high risk. And the unambiguously horrifying debt number that we're all being strangled to death by by by is due to what the Committee for Responsible Federal Budget has rightly called a total bipartisan abdication of making hard choices, which I think is a brilliant way to sum up what is actually going on.

We have all got to snap out of our stupor and realize that the interest alone is going to eat us alive. Meaning, cuz that's uh it's a hyperbolic statement that abstracts what's really going to happen. It's going to make it impossible for the government to function at the level that it is now. The credit markets will seize. The eurodollar market, which basically allows the global economy to run, will falter. You get inflation. I'll stop shy of calling it hyperinflation, but you're going to continue to get the kind of inflation that is so destructive to savers um that you create real long-term problems for yourself.

Now, the federal government right now is going to be spending roughly a trillion dollars in net interest in fiscal year 2026 alone, making it I think it's the second biggest line item on the budget right now. That is insane. A full 14% of every dollar that Washington spends goes to just servicing the debt. Not paying it off, just paying the interest. More than one in seven federal dollars is going to service the debt. That is bananas. And the number gets worse every month because trillions were issued at near zero rates back when we were at essentially zero interest.

But, all of that is going to be rolled over at 4 and 5%, 5%, 5%, which is going to be absolutely crippling. crippling. crippling. That's a kill box that we've essentially navigated our way into and the Fed cannot hold rates high without bankrupting the Treasury. So, they are going to find a way to cut. They will print. They will use financial repression. The inflation cycle is already eating already eating already eating all of our uh purchasing power, but it's affecting the middle class and the working class the most.

It is the thing that is driving the populist division as it always does. And the only real way to begin digging ourselves out of this is an absolutely horrifying strategy. And by the way, if we really want to solve the problem, this is where I imagine myself holding the mic out to you guys to sing along, we have to balance the budget. We have to balance the budget. If you don't see people balancing the budget, just know that the problem is there. You don't even have to understand the way the economy works.

You just have to know, is the budget balanced? Because if the budget isn't balanced, you have an ongoing problem. And uh there are growing voices on X that are coming after me because they think I don't understand the economy, which is hilarious. It is impossible to say something that details every element of the economy in any single tweet, boys and girls. Uh but yeah, I am not sure where they think this goes. So, oh jeez. you should have pulled up that tweet, man. We could Here's the thing, I did.

I actually fed a troll yesterday and I was like, why am I doing this? Uh so, anyway, it it is exactly like the thing where people are pushing the meme of me saying if you aren't going to have kids, you better have a damn good reason without any context and explaining why I said that. Uh yeah, it's the same thing. It it doesn't matter. It doesn't matter. You just have to keep messaging what is true. No, got you. Um okay, so let's just do some checkpoints real quick.

So, US debt more than 100% of GDP. The equivalent of everybody in my household, our total credit card debt is more than what we all make in a year. Yeah. Nice easy way easy way easy way Yeah, sure. Sure hit. Okay, cool. And then from that perspective, when this debt gets higher, is it that one, bailouts happen, which means deficit print spending, or would it be individual bankruptcies that won't necessarily get pushed up to the federal level? No, no. So, the you're thinking about private debt.

So, private debt is where where where if you start looking at the total debt, dude, it is psychotic. I'm not even asking people to take that on cuz you've got all of the responsibilities that we have to like pensioners, for instance. That's a staggering number that nobody talks about. You've got what we're all holding in private credit card debt. That's a totally separate number. You've got corporate debt. These are all separate numbers. So, we're just talking about the what does the US government has sold a bunch of treasuries to raise debt to deficit spend.

Yes, that's a simplification. simplification. simplification. I'm well aware. Uh but to get people the ability to wrap their head around this and understand what's going on, they've sold a bunch of treasuries to people, not just Americans, but largely Americans, Americans, Americans, to people and governments and central banks all around the world. And that is the only part of the debt that we're talking about that has now exceeded GDP. Got you. Okay. Um and then I pulled I looked up CalSHI real quick cuz you kept saying like would the Fed artificially hold rates, would they cut?

Right now, it's a 94 94% chance that it remains the same. Uh Over what period of time, though? Um this is it for the next decision that will be happening in Got it. Yeah, yeah. Yeah. Um listening to Jerome Powell do his last address, he was leaning on the neutral side. We're not trying to keep rates high or push them up. We're just trying to wait and see what happens. That Okay, just keep in mind, every word out of Jerome Powell's mouth is just like, okay, what do I need to say to keep everybody nice and calm?

Like, that's it. He's not trying to indicate what he actually believes to be true. I'm not even sure that's his job when it comes to messaging. His job really is to keep people calm. So, one of the things Kevin Warsh is talking about doing away with is that. This like whole weird messaging thing that we do to try to soothe everybody. And so, um I uh men, chat, please correct me if I'm wrong here, but I think he wants to get rid of the dot plot.

And so, the dot plot is all the different people on the Fed committee saying, well, this is where I think it's going. This is where I think it's going. That way you can sort of get, okay, this is where they as a collective think it's going. So, you can have outliers, opens up discussion. I think he wants to get rid of all that and just um really start I haven't thought a lot about this, but my initial instinct is part of what he wants to do is stop being beholden to managing people's expectations and just like go heads down and uh manipulate the economy.

economy. economy. [clears throat] [clears throat] [clears throat] And then it's like, what happens happens. I don't There's not a way around it. Like, speculators are going to speculate, and that speculation is going to have a tremendous impact on the economy. There's no way that that is the nature of markets. Um so, yeah, I don't see a way around that. So, anyway, I have not thought a lot about that. Full disclosure, that one on inspection, I may say, oh, there's actually something brilliant here, but uh my initial reaction is not that.

Okay, then with but based on the research that you did for the deep dive and kind of what you just told us now about it, are you optimistic that we'll be able to control inflation? I know there might be some deficit spending, I know things, but are you at least confident in the Fed that they'll be able to not drive us completely off the cliff right now. We still have some time to maneuver and I think financial repression is best understood as chemotherapy. And will we get extraordinarily extraordinarily extraordinarily sick as we go through this?

Yes, 100%. My quick explanation of what financial repression is, financial repression is where the interest rates that are being paid out are in real terms, they're negative. Meaning, the interest rate being paid out is lower than inflation. So, if you buy treasuries, you're going to get a negative real return. So, they do it on purpose. They know they're doing it. This is not Obviously, they want the general public to think this is all just a law of nature, but they're they're actively doing it through policy.

And so, right now, they've built up this captive demand for treasuries through a couple different policy things. things. things. Uh one of them being the genius act. Another one being these regulations that were were were from where I'm sitting are kind of obscure. People that are like deep deep deep in the economy would be like, well, you you think that's obscure? That's like really mainstream stuff. But the average person's not going to know what it is. Um but they've made some changes to that. It's banking regulations about the ratio of assets that banks have to or sorry, cash on hands versus assets that they hold that they have to keep for emergencies, aka bank runs.

And so, they've allowed now banks to take bigger risk. Now, by allowing banks to take bigger risk, that frees up tens, if not hundreds of billions of dollars. I can't remember the exact number, but I think it's in the neighborhood of like 150 billion immediately freed up. Now, there are regulations, though, that dictate dictate dictate how banks what kind of assets banks can hold to still be in good standing. Those assets are basically US treasuries. So, they're like, okay, we're going to let you take more risk.

It essentially is going to force you into buying treasuries. And then when you're in treasuries, we're going to financially repress you, and you're going to be losing money. You just won't lose money as rapidly as you would if you just held cash. So, it's it's one of those things where think of it as chemotherapy. It's going to make us all very sick cuz it's going to inflate the currency, which is going to hurt the working and middle class. And it'll be a race, just like chemotherapy is.

Does the chemo kill the patient or does it kill the cancer just enough that you end up living longer than you would have lived from the cancer. But the chemo's really going to hurt you. So, the in this case, the cancer is the inflation. The chemotherapy is pushing us more towards revolution. So, which is going to kill you first? Just the absolute default because your interest rates are getting so out of hand, your inflation is getting so out of hand. Um so, it it's you're going to be hurt by one or both of them.

And I just don't know which is going to kill us first. Will people be so unable to buy Taco Bell that they revolt? Uh or will we get to the point where um we've just done so much damage to the currency that as a government, we just we are forced into austerity and or hyperinflation. Either one is going to be a death knell. That would be hilarious. A bunch of people in Massachusetts just dumping chalupas in the in the bay. Give me liberty or give me Somebody ran a number on the what they what they call it.

It wasn't the Taco Bell inflation, but it was something like that. And that inflation number over the last 25 years is like over 300%. So, and that's 6% annualized. So, he's like, listen, over the last 25 years, the real inflation, what he calls the only inflation that matters, what it cost you to eat at Taco Bell, uh has run at 6% which is exponential. And people don't talk about that. When you do something where the percentage repeats year over year, that is exponential. That is so like every business in the world is trying to grow exponentially.

And it's like the exciting buzzword, exponential growth is wild. Uh even at 6%, that number stacks because it's 6% on the higher number every year. So, when you're doing 6% on a number that's already 6% higher on a number going back 25 years, that's that last 6% is a staggering number compared to year one. And so, that's where it gets into this 300, you know, whatever range. So, range. So, range. So, uh when people tell you that inflation is 2 or 3%, that's [ __ ] And it really is [ __ ] Like, they shuck and jive and pick different baskets of goods to look at, whatever keeps that number low.

And then as a reminder, every year, cost should be going down and quality should be going up for your products. Cost should be going down, quality should be going up every year via in uh innovation. And that is being stolen from you through inflation. It's a perfect segue cuz speaking of stolen innovation, there's been a lot of buzz in the US about these Chinese BYD vehicles. And how China has vehicles that can transform and fight crime, and they're $16. Have you heard of the Autobots? They're being made in China.

Exactly. Like, they got a whole Transformers lineup. Uh but lawmakers are passing regulations in order to continue the ban on um Chinese vehicles. A lot of people are saying, hey, what happened to the free market? Hey, you guys love capitalism so much, what's happening now? Whoa, whoa, whoa, whoa. Hey, hey. Hey, hey. Hey, hey. We we have to draw Couple of people in the back understand what's going Yeah, yeah. So, first of all, we have to draw a line between free markets and globalism. Uh if you really are fine with um regionally, I don't care about you at all.

Uh so, I'm perfectly happy for China to spend the next 50, 100 years um getting wealthier and wealthier and wealthier, then globalism is awesome. But it is really, really terrible for localized workers. localized workers. localized workers. And because right now, geographical boundaries still matter so much for your quality of life, this is what they talk about when they're talking about PPP, so purchasing parity. So, it's like, okay, they might make less money in China, but if they can buy more stuff, does it really matter? really matter?

really matter? Um and so, that's where looking at things through that lens is very important. So, when we globalized, we made things much less expensive. A lot of incredible things came out of globalization. However, it also left a huge contingent of people I'll just speak from an American context. It left a huge contingent of Americans just completely [ __ ] So, they were unable to um get the factory jobs cuz the factory jobs were geographically located elsewhere in the world. So, if it was as easy as just you go work for a Chinese manufacturing and suddenly you live in, you know, Beijing or whatever and you're not bothered by the Foxconn need for uh nets to stop you from committing suicide because that's how a dictatorship rolls is like, nope, you're going to serve your purpose and that really is just that, then yeah, you could have gone to China and dealt with that and you would have been quote unquote A-OK.

But obviously it doesn't work like that. So, what we're learning now is there just geographic and cultural realities to be faced and so, by globalizing, you end up hurting and or helping very different geographical pockets. That causes a ton of unrest and this is a big part of what's going on with the populism and all the anger. So, it's like as a free market capitalist guy, I really get it, but we run into a geographical reality that has to be dealt with. And so, that's where you've got to tease these two things out because we still want to be as close to free market as we can in our geographical boundaries called the US, called North America, think about, you know, however large you want to make that pool, but you've got to start thinking about, okay, now within this, just what system works the best?

It's not like I like capitalism for the sake of capitalism and if somebody comes up with a system that is better, which by the way, if AI does the things that we all hope it will do over the next 30 [clears throat] years, on the other side of that, capitalism will be largely nonsensical. So, this isn't something where I need to fight for capitalism. I fight for I I round it to a thriving middle class. I just mean the majority of the average people in the world, the system needs to work for them.

And if it's only working for elites, that's just nonsensical. So, um that's what we need to be looking at. So, right now, as we separate those two things out, capitalism geographically constrained is still the only system we see that actually works in terms of spreading uh goodwill and cheer. I don't know how else to say it. Uh to the broadest number of people. Okay, with that in mind, you were going to say. Did you have more to No, no, I could hear you like it was kind of like uh put it out.

Um I I guess what I'm really trying to like wrap my head around is I think a lot of times when we see these numbers, we relate them to ourselves. We look at our own bank accounts. We see like there's both macro and micro things happening like both at once. So, when this number is ticking, it seems like it's more of a macro versus something that's a bit more micro. micro. micro. Yeah, in the sense that, okay, so one of the cool things about the post-World War II thing is um anybody that's paying attention should be asking, okay, Tom, financial repression is so bad, but you just said that we used it at the end of World War and everybody knows that America absolutely boomed post-World War the baby boomers who've just had this so easy, they grew up under financial repression.

If that's the case, give me financial repression. This sounds awesome. awesome. awesome. And the reality is that what ended up happening was post-World War had that productivity boom that was miracle-like, that is unprecedented in history. That was a confluence of a whole bunch of weird events. Uh the US ends up basically the strongest economic force in the world. We're completely untouched by World War We now become the um the like center of everybody else's debt. So, everybody owes us money and we're in charge of helping them rebuild and we have a young population.

So, it's just like everything. We were the the manufacturing manufacturing manufacturing um powerhouse the world over. So, it was just like, man, we were poised to be able to financially repress the [ __ ] out of people, which is absolutely terrible. And yet, everything was so good economically that we still grew faster than the financial repression. And so, even though people were being stolen from, it was a rad exchange where it was like, okay, cool. Thank you, America, for fighting this battle. Yes, you secretly taxed us tremendously, tremendously, tremendously, but things are going so well that all is well.

And that's where I'm like, yeah, if you told me that you want to tax me more, but there's going to be this outcome that's absolutely extraordinary, I would literally be a fool not to be like, cool, sign me up. It is when you want to keep taxing people for a worse and worse outcome where people start going, what the [ __ ] are you talking about? for? Yeah, so like this is just nonsensical. So, right now, the economic structure of America is so different that as you try to use financial repression, you accelerate the movement towards revolution.

Mhm. So, that's where I'm like, okay, hold on. Like we're going to need a different strategy here. Um so, period. Yeah. period. Yeah. period. Yeah. Um so, Um so, Um so, to me, the policy seemed a bit protectionist cuz I feel like we want to protect our auto industry. We want to make sure that we have at least some things locally that are homegrown that we can't completely outsource to China. Yes, and by the way, we have to decide, okay, are we going to be so philosophically dogmatic that it's like um capitalism no matter what?

I would advise us not to write move. To me, it's like capitalism has an aim. Ask yourself what that aim is. The aim is like what China showed is to pull people out of poverty, create broad-spectrum um economic opportunities for people because when people are progressing economically, they have a tremendous sense of well-being. But the well-being is largely what we're aimed at. That's why anybody that dismisses the Chinese model and is just like, uh it's all bad. It's like, no, it's high risk. But there are times where it's extraordinarily good.

When China started adopting free market capitalism with absolutely draconian, we will murder people um dictatorship, they still went through an extraordinary period of growth where it was like, yep, that was a winning formula. And for like 30 years, globally, it was the best strategy ever. Now, that's cold comfort for the guy that got run over by the tank in Tiananmen Square and all the people that got shot in the face uh or for the Uyghurs in concentration camps, but we would be lying if we said, hey, that [ __ ] didn't like really yield some extraordinary results.

But what I think we're about to see is the flip side of that coin. When you're not letting the market come in and say, listen, like this is where things are going, AI being a great example, and instead China now trying to repress what you can and can't do with that, um you start getting back into that dangerous zone where now they're trying to do things from the top down, which causes people to push back harder, which then causes them to have to repress you harder, and so you get into this loop where you end up with Mao's China where 45 million people are starving to death.

So, it's like ultra high risk, but free market capitalism also has its own risks. And so, it becomes a question of do you value freedom, which America's racing away from. So, people that criticize Americans say, look at these evil capitalists, look at the outcomes. I'm like, I wish we were capitalist. Like at least that I could stand on the merits and be like, yeah, it's rough. There is a guy literally dying on the streets because nobody's helping him. That [ __ ] sucks and I wish his family would rally around him, but Tommy doesn't have a family.

Brutal. I wish the church would rally around him. Why, he doesn't belong to a denomination or he refuses to step into a house of God, whatever. And it's like, [ __ ] those things are hard to watch and I totally get that. But so is watching people be put in a concentration camp. So, it's like like like which China is doing today. So, it's Choose your hard. Yeah, choose your hard. Thank you. What a [ __ ] brilliant way to sum that up. So, anyway, I err on the side of freedom.

I would much rather uh be in the camp of it is the individual that is uh the spark of divinity and therefore it's the individual that needs to be protected. Anyway, we've we can have that debate if we want, but not to fractal too hard. So, you're going to pick your hard. Uh all of this stuff is trade-offs. Capitalism Capitalism Capitalism America's not running the capitalism I'm referring to, just to be very clear. But capitalism capitalism capitalism is the only thing that has proven over time that it can create this broad-spectrum broad-spectrum broad-spectrum um um um well-being.

well-being. well-being. Yeah. Uh I want to break down the AI China regulation now that we talked like we covered it. So, um a court in China has ruled it illegal to replace human workers with AI purely to cut costs. They have put responsibility back on corporations. They can't automate just to boost margins while workers are pushed out. China has decided that wages, fairness, and employment are optional and that's a big shift. While the West replaces the replace labor as fast as possible, viewing AI as a free-for-all, China has set a precedent that profit alone isn't enough and corporations must answer to society.

society. society. Yeah. What's your initial reaction to that? that? that? this one is wild. A Chinese court just ruled that firing a worker because AI can do their job better is the illegal. Now, many here in the West are cheering this one on, which gives me the creeps, but this kind of law is going to backfire. Not only will it do little to nothing to stop people from being replaced by AI. It just gives governments more control, which is extremely dangerous given the insane historical like writ large reality that governments kill their own citizens.

Okay? Not just China. The numbers in the 20th century alone are so staggering people just are either ignorant to it or they think somehow human nature has changed. I don't know. Governments kill people like for real. On a long enough timeline governments are extraordinarily at that. Now, the lead case tied to the Chinese ruling here involves an AI quality assurance supervisor who made roughly 25,000 yuan a month. Um and he his job is to verify AI output. Now, you can imagine that an AI is going to be better at verifying a lot of this stuff than a human is or certainly a human augmented with AI is going to be better and so you're going to need fewer and fewer these humans.

When his company tried to demote him to a 15,000 yuan role because the AI was outperforming him, he refused and then was fired. Now, the court ruled that the AI adoption is a voluntary business strategy, which is already wild that they're saying that hey, you've got to have force majeure, which this was not, if you want to fire somebody. So, under Chinese labor laws being worse at your job than AI doesn't legally justify moving you to a different role. Now, I know right now that there is a large number of people that are hearing this that think I am just some capitalist [ __ ] who cannot understand the plight of people.

I get that that's the read and I really want to talk about that. Because that is not the place that I'm coming from even though I know that that is my general frame of reference. I understand that and I'm willing to get as nitty-gritty as people want on the hard reality cuz this has to be dealt with. That if we just leave people to suffer out in the streets, there will be a revolt and it will end horrifically. That is not the outcome that I want.

So, bear with me. Now, remember in the beginning they did not try to fire this guy, okay? They just tried to move him to a less expensive role. Keeping a company alive is brutally difficult. 94 94% of all companies fail. So, when you've got a government trying to tell you from the top down something that's going to make that even harder, now you run into the madness of top-down control. The reason top-down control doesn't work is you're not close to the reality. This is why I want parents to raise their children even though I know that there are some parents that are absolutely godawful.

But that is far better than the state, which is way removed from the day-to-day realities of what raising your child is like. And so them trying to have these blanket policies is just always going to be a disaster. You want to push the responsibility down to the people that are closest to the problem. And in this case people running the business are the closest. It doesn't mean that there won't be terrible people in these decision-making positions. There will be. It doesn't mean that people won't abuse this to fire somebody that they just don't like.

It will happen for sure. sure. sure. But the reality of why China is doing this isn't just about altruism. This is largely related to Xi and the CCP needing to remain in power. Right now China has a massive demographic problem and there is growing reports of unrest at the margins. I'm not saying that there are revolts in China, but you're going to start seeing this more and more people talking about like there's a level of unhappiness that is reaching higher and higher levels, which is why Xi has been doing his purges, which by the way, nobody denies is happening.

Xi is ousting people left, right, and center because he's having to put a tighter and tighter grip on his control because the economy is in a worse and worse place place. Youth unemployment in China hit 16.9% in March. March. March. And with all numbers coming out of China, that's the cleaned-up number. It excludes students, by the way. And it's going to be the number that the CCP believes is fit for international consumption. They know who reads these numbers. numbers. numbers. Now, the old methodology that they were using showed that it was higher than 21% and I'm sure those were already cleaned-up numbers.

That was back in 2023. Beijing, when they started getting those numbers, they just straight-up stopped publishing the data for 6 months. months. months. They're just like, nope, sorry, no more data for you. There is no data. Correct. This is not the data you're looking for. And they go in, they make changes, and now they start presenting this new number, which has dropped significantly. And this is all BS numbers. Current youth unemployment in China isn't even just like a sheer numbers problem. It's a mismatch problem because China is an aging demographic.

China doesn't have enough young people. So, this isn't an aggregate demand problem. China has about 12 million college graduates entering the workforce each year. They should want more, by the way, a lot more. They're going to need more, but the white-collar pipeline that was supposed to absorb them has been gutted. The property crash, the tech crackdown, the shutdown of the private tutoring industry, the slowdown in foreign investment. It's all hitting at once. Meanwhile, factories and delivery jobs go unfilled because educated urban grads won't take them.

So, now you have to ask, do you want the government here in the US for all the people clapping so hard for this, do you want the government to tell you what job you're going to take? Okay? Cuz this is where this stuff goes. So, it's not that China has too many people and too few jobs in aggregate. It's too many people with degrees. This is known as the overproduction of elites. We have the same problem here in the US. So, you've got too many people with degrees, too few jobs that match those degrees, and that's putting serious strain on an economy that's already in trouble.

Now, when you layer in the reality, everything is going to transition to AI if it's better. That that just is the reality because we're all competing on a global market. So, this is a huge problem for China because the entire legitimacy of the Chinese Communist Party rests on a single bargain. They say to the people, hey, we're going to deliver economic stability and exchange you guys are not going to revolt. That's the deal. With AI, China is in a damned if you do, damned if you don't scenario because they also have a demographic time bomb that is ticking away.

They have very few young people like staggering, scary low number. And a rapidly aging population that will either need young people or AI and robotics to take care of them. Given that young people take 18 years to mature and AI is instant, AI is inevitably going to play a major role in solving the problem no matter what legislation China tries to push down en masse from the top. As the working-age population shrinks, AI product- productivity becomes absolutely critical to China. to China. to China. They will need AI to compensate for the workforce that is just disappearing.

So, telling companies that they can't fire workers or even demote them to keep a business more efficient when you're talking about a 94% failure rate of companies, companies, companies, that just means that new companies will get started that use AI from the jump so that they're not having to fire anybody. They just don't hire them in the first place. And then if China insists that they do hire employees instead of using AI, they're not going to be competitive on a global scale. So, all of these new efficient companies that are going to come up will just replace the old ones that have underperforming humans.

That's just a reality. We have been through these kinds of technological transitions before and they are rough. There's no doubt, but in the end they create more jobs than they take. The only alternative for China is a completely draconian government draconian government draconian government that just keeps trying to gain tighter and tighter control over the populace, which is what we're seeing, and then control everything from the top down. Now, you guys have heard me talk about a million times. China has a long and bloody history of doing that.

And in the 20th century alone, that method killed a staggering number of people. The low the low estimates are 45 million. Okay? It is a terrible strategy. This is why I absolutely despise the reaction that I'm seeing from people here in the US and across the West. Way too many people on both sides of the aisle are clapping for this, acting like this is the model that we should be copying here, which is insane. Giving the government veto power over hiring and firing decisions is the exact that is paved with good intentions.

As the road to hell is always paved. So, yeah, man, this one is going to go somewhere very dark very fast. And I expect the people in the chat are going to hate my take on this. I want to fight about this one. Oh, this this one we're going for. This one we're going for. It It It is it I cuz I know we here we usually I don't want to say dumb it down, but we usually end up getting to populism. I'm feeling it, so that's why I'm like running into the arms of this other system.

other system. other system. Is is it just because I'm feeling it, that's why I'm running? Is that like the I'm talking about Part of it. So, I think though that you really have your finger on something. I feel a level of anxiety. Uh-huh. So, if I'm looking at AI and I'm like, "Ooh." And I'm super wealthy, I understand investing, I'm one of the people in the 10% that own 93% of the assets, all of that, uh if I'm like, "Ooh, this one makes me uneasy." Mhm.

Then I can only imagine somebody who's already like, "Fuck, if my car breaks down, I can't replace uh the parts." So, like I get it. But this is where it's like you have to eject out of your emotions and go, "Okay, I've got my finger on the right problem. Mhm. But do I have my finger on the This is my whole beef with Gary's economics. He understands the problem and he's absolutely moronic when it comes to the solution. And so it's like, okay, hold on. We This is a problem we're going to have to address.

How do we address it? What is the way in which we're going to make this work for people? I don't think there are going to be easy solutions there. I think this is all going to be trade-offs. We all have to understand, okay, let's put the solutions on the table. Let's look at the trade-offs that history tells us those are going to have and let's decide what trade-offs we're willing to make. Now, the populace obviously is going to stay in their feels. So this is going to be largely emotional.

This is the iron law of oligarchy. This decision really is going to be made by a small group of people, but it's going to be a battle between essentially the DSA and conservatives. And so we'll see what ends up being the solution, but coming in and trying to have top-down control over this won't play out well because if if I can get people to use a historical analogy, this is literally like the knocker-uppers or the lamplighters going, "Bro, you can't replace this with alarm clocks." Or if people know the story of Paul Bunyan, obviously it's just mythology, but it was meant to explain what was happening to logging, which is exactly like what's happening now.

So Paul Bunyan, mythological story about like the ultimate logger, lumberjack. And he was just so good with an axe he could cut down at a faster rate than anybody else, but eventually the chainsaw gets invented and despite him being this extraordinary guy that everybody revered and being this real hero, he and and in the Disney retelling of this, of this, of this, the chainsaw really is the villain. It's painted as the villain all the way through to the end. You love Paul Bunyan. You were sad to see him fall, but the reality is he like win he out cuts the chainsaw and then he dies or something.

something. something. I don't remember like the final final punchline. You would have to look it up, but any kid watching the story of Paul Bunyan goes, "My dad uses a chainsaw not an axe." So you know what ends up being the real winner in all of this. And this is always the case. Like the technology is going to advance. Technology is a promise of a better tomorrow as long as we are wired the way that we're wired, we're always going to back the thing that gives us a better tomorrow.

But technological advancements and innovation do not care about the people that get mowed over. And so when you have these big technological revolutions, there's a generation sometimes two that they struggle at a level that is truly profound. But then the world makes up for it and we move on and it just is what it is. And so it's like it it is an unstoppable force. And so wasting our time trying to stop it without answering the question, how many people are you willing to kill to stop it because you will have to kill them.

them. them. That really is the thing because remember like take just that is so random to pick on Estonia, but take Estonia. They're tiny and they look around and go, "How are we going to differentiate ourselves from the rest of the world?" And so they become hyper-technological. hyper-technological. hyper-technological. So you can imagine that a country like that or El Salvador or some of the things that they're doing. People go, "I've got to compete with the big boys. How am I going to do it?" Argentina is doing this now.

Argentina just got Peter Thiel, one of the richest people on the world to buy a home and start planting roots there. And they put out a public message that was like, "Hey, you think you're being taxed too much by your country? Come here." And so anybody that's like, "Oh, were you just crushed? Was your company just crushed by your government because you were trying to use AI in your company? Come to us. We're the safe haven for AI." Which then will cause capital to flood over there.

So the people that try to like crush this stuff down by killing their people. I want to be very clear about what has to happen to make that stop. stop. stop. People just leave. And so you might you admittedly you might extend the timeline with enough human suffering. You might kill enough people that instead of this happening in 20 years it happens in 50 years, but it does happen. And so do we really want to kill a lot of people rather than try to find a logical solution?

To me it's like the story of Paul Bunyan is rough. It's sad and we're all going to either be or know a Paul Bunyan in this scenario, but man, like you just have to find ways to adapt better rather than murder your way to a solution. solution. solution. I feel like you've seen many moons. You've been through a couple of decades. So you've seen this Who's calling me old? That's nice. It's a nice way to say I'm old. That's good. Is this the moment where you you turn into the kid, then you become the cooler uncle like cousin older cousin and then you become the old guy on the lawn like shaking his fist?

Yes. Dude, that's so great. So what is his name? Shane Gillis has a hilarious bit on this where he's like um uh nobody intends to be a Republican. He's like, "You don't wake up being like I want to be the [ __ ] yelling at kids to get off my lawn." It's So this is about cause and effect. And there's a real harsh reality to be faced when raising kids for instance. Part of why I don't have kids is I did not trust myself to like enforce the level of discipline that I knew would be good for them in the long run, but it's really brutal in the short term.

Like I'm still haunted. I have a dog that is very stubborn and she was stealing her sister's food and I had to go interrupt it and as a long-time viewer of the dog whisperer, I put her on her side and do that like three-finger like neck pressure thing that's supposed to be like a dog bite and she bit me. And so now I've got to hold her on the ground in that this is where my wife starts crying by the way cuz when she gets bit she takes it like so personally.

And I'm like, "This is what dogs do. She wants the food. I'm stopping her from eating the food." And so she bites me so I like pin her down. In fact, that's why I pinned her down was because she bit me when I pulled her away from the food. And I put her down and I'm just you know being calm holding her there, but she since then just isn't as affectionate with me. And like this was this is a while ago. This is like maybe a month ago.

So literally Lisa carried her towards me this morning and I reached out to her and she just turned her head. And literally it's since I stopped her from eating her sister's food. That's crazy. But now if I don't do that I've got a dog that runs the house. That you cannot have. Yeah. So there are there are cause and effect things that have to do with the way economies function. There are cause and effect things that have to do with the way the human mind function.

This is why I think having some government is good because you will get abused by humans. Humans are tyrannical if they're not checked. checked. checked. So government's good. It's amazing. It's weak people coming together and saying I want to be protected from somebody that's strong enough to just do whatever the [ __ ] they want like we're doing in Iran. Right? We're the bully that nobody can check. And so as hopefully people can see this can have pretty gnarly consequences. consequences. consequences. So anyway, it's like you get older and you just start realizing like, "Oh [ __ ] there are things that work and there are things that don't work." And being an entrepreneur certainly has painted my view of the world because you have a gun to your head if you can either make payroll or you can't.

And so it really forces you or it forced me. I'm shocked how many entrepreneurs don't do this, but but but it's really forced me to look at my life through through through cause and effect window that can be mapped in a spreadsheet. So when something's [clears throat] going wrong I can identify the cell in the spreadsheet that's broken. And it does make you sound like an [ __ ] though. [ __ ] though. [ __ ] though. Uh you know, it's the cost of doing business, right? Uh it's the cost of being effective.

How about that? Yeah, I'll take it. Uh all right, we have some super chats. Yes, we do. Marusha Dark says, "Have you been tracking GitHub's crash out over the last year? Seems they burned credibility with a lot of devs who would have formally taken a bullet for them. A lot of devs mad at Anthropic, too. Elon called them misanthropic." Uh I am not aware at all of GitHub's crash out. Now you make me want to know more. So I'll definitely be looking into that. that. that.

Yes, I get the beef with Elon and Anthropic. Anthropic. Anthropic. The AI thing is going to get violent. People are going to die because of their stances on AI for sure. The thing that scares me the most is my stance on AI. Like in terms of what I think the public will turn on me for. That one legitimately unnerves me. My poor wife. Um so When the first like million people lay off that amount or something happens everybody There's going to be endless clips of me saying, "No, it's going to be okay.

Like come on. This technology is going to take over. Why are we fighting it?" Yeah, and I don't think that my comic book is is going to do me any good where I'm like, "No, no, no. Look, I have an idea how we get to the other side of this." this." this." People won't care. Marusha Dark, thank you for the 40 total. I feel like we could solve so many problems if we just taught everyone economic literacy, but we struggle to even teach many people's alphabetic literacy.

Also thoughts on the new 401k e.o. Isn't government matching money printing? Okay, so yes first of all, when you don't have a balanced budget throwing more fuel on the fire. That's one thing I would like to see us do. I don't know that this generation like if they had some sort of cut off like you have to already be actively working. Maybe we have to push the retirement age out, but doing some sort of matching is dope especially for like millennials and younger. That's really going to be I think a big win.

Um however, you just can't keep adding to an unbalanced budget. So even though I love it, you got to balance the budget first. The first part of that was something I really wanted to address. Re-ask that. Uh it was about uh economic literacy and people struggling to learn the alphabet. Um Um Um We the good news is that we're in an era now where teachers can be supplemented by AI, but you have to have some of the best and the brightest teaching. And when you look back in days of old, there were really extraordinary people that were um tutors.

And we have to do something culturally to um attract incredibly bright people to the profession of teaching. We have to do something economic so that there's huge money to be made. I mean, by way of like a good uh life. I don't expect teachers to be making um you know, millions of dollars a year. But, you do want to make sure that they're being compensated very, very well because they are in charge of teaching the future generations. Again, I think we need fewer teachers armed with AI, uh but uh but uh but the biggest part of the reason that it's difficult to teach economics is economics is very difficult to understand.

Um as somebody that's spent the last however many years now learning about the economy, even I'm routinely like, wait, what? Uh and I have to like spend ungodly hours like trying to go in and figure out, what does this really mean? And I really wouldn't do it if I didn't own assets because assets become the justification where spending this level of time allows me to reap economic rewards for spending that time. But, that's a really big ask for most people. people. people. Uh and so, if you're paying them, you know, whatever 30 to 60,000 dollars a year uh to put up with the kids and the parents and all of that and expect them to be good at that and get so good at it that they could make enough money off of what they're able to teach, but they still want to stay engaged with teaching.

teaching. teaching. Um yeah, that one's tough. Uh man, super random note, but there I saw a game developer, young kid, like really doing interesting stuff. And he was like, yeah, I'm going to tap out of game dev. And the guy interviewing him was like, why? And he was like, well, I think I'm just going to go invest. And I was like, uh that really is where we're at. Like, he from an economic standpoint, I've got no arguments. Like, yeah, that's you should be doing that. Because uh doing game development is years of your life on huge question marks.

Whereas investing, it's like other people are taking the risk. You've just got to back enough right horses over a long period of time. You'll be fine. And compound interest will just keep building and building and building. you learn, oh god. So, anyway, makes me sad, but that's where we're at. Tally for life with a $50 super chat. Hey, thank you, Tally, for the Let's go. Let's go. And by the way, quick, before you read this, quick shout-out to Marushia Dark, who always comes in hot. We were talking about you before we went live, dude.

What a long-time supporter of the show. So grateful to you. And a moderator on the Discord. Shout-out to Marushia. Marushia. Marushia. Marushia. The local church used to be the glue that held society together. People used to find someone to marry there, found help when they were down in life, community, friends. God was kicked out of schools and replaced with sickness. sickness. sickness. Yeah. Yeah, listen, you I don't think you want to force-feed people religion. Um I'm very glad that I was raised in an era where we still believed that the individual was uh the point of sovereignty and divinity.

Uh but that I wasn't being forced to believe um in anything that I didn't uh believe in. So, I think that's good. I think there's a reason we separate church and state. I think that's very good. Um but, we do have a reality to be faced, which is that there is a god-shaped hole in people's hearts that will be filled with something. And religion is an extraordinary way to pass on values. And if you have a religion that is uh benevolent and truly interested in taking care of the poor, um now you've got a very localized way to go, I know this guy, they are worthy, let us help them.

And I know this guy, and he's a thieving [ __ ] and we're not going to help him. And so, that's the kind of thing you need. Right now, you do it at the government level, you see just how insane the fraud gets cuz there's nobody that knows these people. So, it gets rough fast. Question Things says, our ability to question things is in a society is the greatest currency. Thanks, guys. Jonathan. Yeah, agreed. You also need people to be able to say what they think is true, especially um I was going to say before the age of AI, but the reality is AI is so prone to lie to you, you have to be very careful.

Um that you need people to say what they think is true. Look at COVID, man. I think we're going to look back on COVID and have a very different view of what it felt like in the middle of it uh when people were being told to shut up. So, yeah, people need to be able to say what they think is true. And there's basically only America that has that for real. Like, I used to think it was the UK as well and many countries in the West.

Nope. Uh in the UK, you get jailed faster for things you say on social media than in Russia, which is wild. So, uh we've got America, and even America's on shaky ass ground. And I mean that culturally. I mean, young people are way less interested in freedom of speech, which is crazy. Voodoo Priest says, hey guys, as we're in a populist moment, do you feel the red-blue button nonsense is being debated this emotionally because of political allegory? Like, if the colors were green and yellow, would people still be this emotional?

Yes. Yeah, the the team doesn't matter. From that perspective. It is interesting, though, how red just keeps making its way uh into things. Black, red, they There's color theory around why that is. Speaking of the daughter that got herself in trouble. Um Um Um so, yeah. I mean, you you could pry into that stuff, but I don't think that's a meaningful part of it. I think the biggest part of all of this is simply uh the pie actually is shrinking. And when a pie is shrinking and you're having trouble making ends meet, you're going to fight for You're going to find yourself going onto a team cuz you need someone to help fight you.

Remember, governments are weak people coming together to defeat the strong. And so, if you're feeling in a weakened position, you're way more likely to jump on a team to make sure that you've got more people fighting for you. And that's it for the super chats. And having the team is definitely the biggest thing. All right, let's jump into a new bill that was just passed. This is FISA 702, and it just passed the House. This bill lets the government search Americans' private communications without a warrant, in direct violation of the Fourth Amendment.

But, don't blame the GOP alone. 42 Democrats betrayed the American people to help Mike Johnson pass it. Mhm. Mhm. Mhm. Also, I think this has gone uh unchallenged by multiple administrations. That's the bad news. But, listen, Republicans got to hold the L. Like, this is they're in control right now. right now. right now. Uh so, sure, you've got Democrats that are voting uh for this as well, but this really really really uh can be laid at the feet right now of the Republicans. the Republicans. the Republicans.

So, to all of you out there, bad news. The US government has decided to continue spying on you. The Constitution? Apparently, it's merely a suggestion, which makes me very sad. Section 702 of the Foreign Intelligence Surveillance Act has been extended. Now, on paper, 702 only permits surveillance of non-US persons located outside of the United States. Um so, you're going to hear a lot of people saying, what's the problem? This is about foreign people, and of course we need to keep an eye on them. And we're not targeting American citizens, and we're not targeting anyone here in the United States.

But, the word targeting is going to be doing a lot of heavy lifting. lifting. lifting. So, the problem is that downstream, even if US citizens and people inside the US aren't expressly targeted, when the NSA collects communications from the roughly 350,000 roughly 350,000 roughly 350,000 foreign targets that they spy on annually, many of those foreign targets are speaking to, you guessed it, Americans. So, Americans' emails, texts, calls, all of it. All ends up in 702 database, even though Americans weren't actually targeted. The FBI, CIA, NSA, National Counterterrorism Center, all of it, they can and do run thousands of warrantless searches against that database, expressly using American names.

Okay? names. Okay? names. Okay? addresses. They do it on purpose. [clears throat] [clears throat] [clears throat] So, how it ended up in the database becomes of little concern if you know that you're still using it without a warrant to do all these searches. They're known as backdoor searches, and the government does them routinely. Again, without warrants. The abuse record is freakishly well documented. FBI queries have hit protesters, journalists, donors, members of Congress, Congress, Congress, uh political campaigns. In August of 2024, the DOJ found FBI agents had been using a tool that bypassed even the weak-ass procedural reforms that Congress had put in place.

Okay? These guys are getting around this stuff on purpose. They want this so they can spy on everybody. on everybody. on everybody. This is unlawful. And the program was supposed to sunset April 20th of 2026. But, the House just passed a 45-day extension. The Senate signed off as well. And there are reforms on the table that add written justifications justifications justifications um and attorney approval needs for these queries, but still, they don't require a warrant, which is what you should be getting if you want to be constitutionally accurate.

And that's what privacy hawks on both sides are asking for, by the way, uh but they're not getting. Now, my hope is that the reason that they're doing the 45-day extension is because they could not get everybody on board. There are more conservative people that are like, nope, we're not doing this. They tried to throw them the CBDC thing, which I do want, by the way, that bans that. Uh but, they didn't buy They I think they went for it in the Senate, but not in the House.

Um so, yeah, anyway, they pivoted to this version, which at least is only 45 days, but man, it's hard for people to maintain a level of um outrage long enough to stop these guys from doing this kind of stuff. So, while I have no evidence, I imagine it goes something like this. By us 45 days, people won't get as worked up about it the second time around uh and we'll be able to get this thing through. It's wild. It's really frustrating. It is really frustrating, man.

We at some point just abandoned the idea of keep government small. government small. government small. Yeah. And speaking of this brawling government, they are officially wrapping up the shutdown. Uh Senate and the House have agreed to a funding deal that would partially fund DHS, but all of the shutdown stuff might be finally done. So. Yeah, I think it officially is, right? Didn't he already sign this? I think it was signed yesterday. So, yesterday. So, yesterday. So, um yeah, the good news is that we at least now have uh a funded DHS, but the battle continues in terms of um border enforcement.

So, if you get down with strong borders, strong borders, strong borders, uh you're going to be maybe less keen on this, but they're what the Republicans are saying is we're going to do all of this through uh budget reconciliation. So, it is going to be funded. You don't have to worry about that. So, we'll see. The battle continues, uh but it does look like that the Republicans just finally realized we don't have the leverage here. We're not going to be able to get this done. So, capitulate, capitulate.

Which is fine. I mean, listen, ultimately politics has to get done. There is always going to be compromises everywhere, uh and as long as the enforcement actions that we need to keep Americans safe are in place, um yeah, great. You're You're going to have to do something to get this stuff across because, man, it it has been, I think, unnecessarily risky at a time where where where we're at war with Iran and the odds that there are like sleeper cells and stuff is distressingly high. Uh for that to be unfunded is a bad idea.

So, I'm not super uh freaked out about this one. Got you. Got you. All right. Now, also staying in Congress, Rand Paul is going after Fauci. Um this is what he tweeted yesterday. I've said it from the beginning, lying to Congress is a felony, destroying federal records is a felony, advising others to destroy federal records is a felony. Fauci did all three. His advisor was just indicted. Fauci is next. The pressure to prosecute Fauci The deadline to prosecute Fauci is May 11th. The DOJ must act now.

I'm going to give you a yes or no, then I'm going to let you cook. cook. cook. Should Fauci be prosecuted? Here's the bad news. I don't know. I'm not super close to this one. So, I have a feeling as this heats up, I'll probably do more and more research on it. So, the easy one is to say that if he was he was he was lying about things, if he was telling people to destroy records, yes. So, this is one where I'm like, "Hey, don't do political prosecutions unless there's like it's a real slam dunk case.

You cannot allow people to do this." If he is doing the things that he was accused of, yeah, you cannot have people do that, dude. The way that we handled COVID to me was patently insane and forcing people to get inoculated is absolutely crazy. Like, to me, oh god, this is not going to be a popular position, but to me, people need to have bodily autonomy. bodily autonomy. bodily autonomy. And um I want to live in a world where if the public wants to shun somebody because like I I I'm not going to let you be around me because you haven't gotten vaccinated, cool.

But the government's going to stay the [ __ ] out of it. of it. of it. And the fact that we were all like, "Yeah, cool." Like people are losing their jobs be like government jobs because they refuse to get vaccinated is insane. And I'm saying like let's say that you're like it's it's empirically proven. If you don't get the vaccination, that you put me at greater risk. I still shouldn't have the right to force you to get the vaccination at the government level. That is insane. Now, if I want to say I refuse to be around you, absolutely [ __ ] you a thousandfold.

Like personally, just as me saying you're doing a bad thing, I think you're a bad person, stay the [ __ ] away from me, you're not going to be near my kids. At hard pass, like whatever, I'm going to check public spaces. If you're going to be there, I'm not going to be there. Cool. Do your thing. But oh man, you should not be allowed to say you lose your job uh at the government. If a private company wants to take a stance, fine. But if a government job that's being funded by the public says that, for me, that is a way hard pass.

And then the thing that I was the most outraged, I'm not asking people to join me, but this is the thing that really lit me up was them saying uh that true thing that you just said, just said, just said, that hurts our ability to get compliance and therefore like you can't be allowed to say it. It's called malinformation. Something that we all agree is true, but it's inconvenient and therefore you can't say it. [ __ ] you and the horse you rode on. That uh that is a level of tyranny, bro.

That one for me is psychotic. psychotic. psychotic. So, yeah, it's that it's psychotic because it's so dangerous. Like once people can't say what they think is true, we can't try and triangulate on the truth. We can't find an actual sensible path forward. But I know some people are just like safety over everything and if you could put me in danger, yeah, [ __ ] them, chain them down, jab them. Uh I'm just not there. Yeah. It's It's interesting to see how how things actually play out with it because because because on one side, I get where they're trying to go and I get the right scene.

I always try to leave it empty of like, "Okay, I get why you thought that was a good idea at the time with the information you had present." Yeah, sure. You know what I mean? So, I'm trying to give them grace there, but there has been a lack of accountability of like and just say, "Hey, my bad. We were trying our best." and walking away, I feel like something else needs to be done. Well, also, I I from the little bit I have seen on Fauci, it doesn't look like that's the case.

He's straight telling people, "Destroy this email once you've read it." Um other people have said, "Oh, he's told me privately that you can like bring a document to his house, but don't send him an email." This is a guy who's like, "I don't want FOIA requests." Um that I don't know if it was him, but other people have like inserted other words or they'll intentionally misspell something. So, when a FOIA request is put forward and you do the search, it doesn't show up. Bro, you can't do that [ __ ] So, that that is wild.

Yeah. Working in the gray area. I mean, go Rand Paul. It'll be uh interesting to see if he's effective at this, but he's got people in his sights. And that's the thing. Him, Rand, Thomas Massie, I love them to death. They're trying their best, but there is something to populism. There is something to rallying the truths together and I think they're posture as we're the adults in the room, we'll tell you what to do, isn't necessarily hitting in this moment. So. Well, also, if you're into the nanny state, then you're like, "Yeah, of course the government should be able to tell you what to do." Like I don't even understand.

Like this is wild. Like they will point to me and say, "This is crazy. He's saying that you can put other people in danger." Like the absurdity of that argument is at its face value just ridiculous. This guy should not be allowed in polite society. And I don't I Listen, I think they understand the consequences. I think they just think they'll be the ones in control control control [snorts] [snorts] [snorts] that are um making all the wise decisions. They think they see the future clearly and so, yeah, you can leave me to make a decision.

I'll always make the right one. That's so crazy. Life has not taught me that. Life has taught me that um yeah, over time I can usually correct course and like get pointed in a better direction, but that I make mistakes all the time, that I read the situation wrong and I have to adjust. And so, for me, um focusing on that, like constantly identifying the right answer instead of focusing on being right. being right. being right. I Yeah, I am I get the heebie-jeebies from anybody that is like, "No, no, no, I'm right.

You'll listen." Well, Tom, I am right and you will listen cuz I said we need to lower the prices of houses and we need to build more houses. Dallas has done this. This is like the sixth like Texas city that we're just starting to notice at this point. First, it was Houston. Shout out to Ryan. to Ryan. to Ryan. He moved here. He He got suckered in. Like we've got him here in LA. But yeah, first it was Houston. Um lowest housing rate, biggest market out of everything.

Uh Phoenix is another one that's declining. Austin was declining and now we have this that's saying uh Dallas is declining. Dude, look at I wish people were looking at their phone right now or their screen because hot damn, that didn't come down a little. That came down a lot. And if you're wondering why it went up so high, that was the flood of everybody leaving California. So, uh they went in, it caused a temporary like decrease in the availability of housing compared to the demand and then the free market does what the free market does.

People get greedy and they think, "Oh, I can make money." They start building, building, building and the cost just comes racing back down. It's perfect. And it balances out. So, uh I think it was our Scott Galloway interview when we talked about it where it's like, "We're seeing these models. We're seeing these success stories. Why don't we duplicate them? Why don't we just copy and paste across all 50 states?" states?" states?" Because governments want to be in control. People want regulation. They think they know better than everybody else.

They think the landlords are greedy. They're absolute morons and they don't understand the reason that the free market works is because the only thing that you can trust humans to do at all times is be selfish. And that doesn't So, yes, I'm saying things like loving your kids more than the next person. That's selfish act. I get people going to squabble over that. I'm just saying, people live life in their perspective. They're seeing things from where they're at. They're more worried about whether their kids eat their next meal than the kid down the street or the kid in the next town.

And so, instead of fighting against that and expecting everybody to be altruistic at scale like they would be inside of their own family, which is [ __ ] idiotic, people will act one way towards their family and it's completely different to the outside world. And that's as we are wired. I won't ask you to believe that's as it should be, but it is as we are wired. So, when you build policies that take that into consideration, you get something great because the reality is it's exciting that an entrepreneur will look at all these people from California coming in.

They go, "Whoa, there's like a a real need in the market for these houses. I'm going to take the big risk to build this out. I'm going to build these houses because I want to make more money. I want to like, you know, build my business, make my family wealthy, all of that stuff." It's a very selfish but beautiful impulse from where I'm sitting and it creates this incredible cascade where the cost just comes back down and it will hit an equilibrium point where now people go, "That's not a good risk anymore." And by the way, people will have gone too far.

They'll probably overbuild. A bunch of those builders will lose their ass and that's how the market works. And it's like, yeah, some people win because they figure it out. Other people lose because they don't. And that is as it should be. It is a risk-reward game and we spend so much time trying to remove risk that we end up bailing out banks so that nobody gets hurt and then we kill the middle and working class. It's just so wild. So, yeah, we don't copy and paste it because people are so convinced that they are right.

They are so convinced that corporations are evil, that landlords are bad, and that they see everything clearly, that they are the morally right, and that people just need to do what they think. It's so infuriating. It's one-sided, short-sided, but we all think we know everything. Um Man, I I will go on record. I do not know everything for sure and I am hyper aware of that in myself. So, um yeah, it is the thing that has made me wealthy is my unending paranoia that I'm missing something.

something. something. Well, LA voters will I think they got the person that they're missing right now because Nithya Raman, dubbed the next Mom Donny, which I haven't really seen anything to back it up. I'm going to have to look at her signs. Yeah. signs. Yeah. signs. Yeah. Yeah, there's actually a better um candidate in the mix that has like just a straight DSA um take. She's less Look, I'm early in my research, but she's less terrifying. And so, this will be one where people will find out whether I just blanket people and everything she says is bad because she's uh related to the DSA or if I pull things out cuz there are some things that she's at the headline level that she's putting forward that I'm like, "Yep, that makes sense." And then there are other things where it's like, "Nope, you're that's lunatic." lunatic." lunatic." So, we'll see.

But I'll take it policy by policy. I've got no just general beef. Got it. Um cuz we are right now in the middle of two big elections for LA. First, the governor and for the entire city or the entire state. And then we have, of course, the Los Angeles mayor election for the biggest city in the state. So, it's one of those things where it's like, we see what's happening in New York. He had some wins where there's the snow removal in two days and all these other things, but then he had some losses where we're having these budget shortfalls and these things are happening.

I know California historically has done bad with fraud, historically has done bad with managing our finances. It's also done historically bad with managing our fire problem. And so, that's really what's got people up in arms now. And then all the [ __ ] about we're going to help people build back and cut the red tape, which they have not done. And so, it's like they still can't build. The railway, all of it is just absolutely ridiculous. These problems are so solvable and it is only incompetence that has stopped them from being solved.

Now, whether she's our girl or not, that I don't know. Um like I said, she's got some policies that make sense. Like she really does seem interested in reducing housing prices through building. Uh so, you know I'm going to clap for that every time. I don't care who says it. You [ __ ] Karl Marx could roll up and say, "You know what we need to do? We need to build more housing." I'd be like, "Fuck yes, we do, Karl." Uh now, if in the next sentence he says something moronic, then I'm going to say the next thing is dumb.

The first thing makes sense. This is all about cause and effect. So, anyway, I'm early with her, but but but there's some things that she's saying that I was actually into. But it does echo to your earlier point that there is this malaise around people and they are leaning into these alternative forms of political parties and that's why the Democratic Socialists of America is even on the mayoral ballot. Yeah, and it makes me weep because here's the thing, they want good things. They I'll I'll just blanket assume these are good intention people that are struggling and somebody's telling them that they're going to make that struggle go away.

I can't remember if I pulled the link, but there was a really brilliant really brilliant really brilliant um um um image that summed up the difference between capitalism and uh socialism. And it showed two vending machines and the one on the left was capitalism and stock full and the one on the right is a big sign. So, the one on the left big sign says capitalism. One on the right big sign that says free. And there's no further explanation. And so, you're like, "Oh, damn. Like capitalism, you got to pay for [ __ ] and then the other one's just free." And then you look closer at the image and you realize, "Oh, the capitalism vending machine is actually stocked.

The free vending machine is empty." And that's what socialism and communism are known for are the breadlines, not being able to get things because there's no incentive to make it. And there's no way People talk about the pricing mechanism and that really is true. People don't know how to how much to charge for things. But the more important thing is what happens when you don't know what to charge for things. Uh they end up being too cheap. Everybody floods in. They hoard. They grab as much as they can.

You start putting restrictions. You say you can only have this amount, but how do they know? Again, your needs are going to be different. So, now everybody's appealing, "No, you don't understand. I've got nine like kids that I'm trying to help or whatever." And it's like, "Nope, sorry. Everybody gets one." And so, it just ends up being so lunatic. So, instead, what we have found is the free market is the best way to find all those price signals. So, you find the point at which you're making enough money that you can run the thing profitably profitably profitably and that you're able to keep things in stock, that there's enough incentive to get people to build, that there's enough incentive to get people to innovate, so on and so forth.

And without that, it just all falls apart. What do you want like NIMBYism? Are you okay if there was like a high-density apartment down the block? Are you I'm I'm a YIMBY guy. Yes in my backyard. So, here's the reality. Why would I do that? Okay, that kind of thing would hurt my property values. Drew, I'm telling you I don't expect people to believe it maybe other than you and the people that know me like look me in the [ __ ] eye. Uh I care deeply about a thriving middle class.

I care deeply about people's ability to move up and down on the economic ladder and I because I because I because I I have at this stage of my life won the game of capitalism. Hopefully, I will live live live for an extended period of time, which means that maybe there are times where I'm up and times where I'm down. But um I really just want the game to be fair at the starting line. After that, I expect the people who build the best skill set to win more than the other people.

And so, um I am willing to eat my own dog food. So, if I put forward a policy that is good for the masses and it's bad for me, it is what it is. Like I want a policy that's good for the masses. Um so, yes, in my backyard, build that [ __ ] Like let's go. Um now, that doesn't mean that I don't go. So, look at the Pacific Palisades, for instance. The Pacific Palisades is one of the most beautiful areas in the world, which means if you just let the free market decide, the people with the most money are going to go in and they're going to buy.

They're going to do big, beautiful single homes and all that. And you and I, one of our earlier arguments was about, yes, some places are going to be too expensive for people. people. people. But if there's a developer that's like, "No, I'm going to build these beautiful apartments. It's going to be high-density housing." Um cool. Love it. Now, I would expect those apartments per square foot to be way more expensive than that same apartment in a different area. area. area. Uh but if you've got somebody that believes that they can pull that off, go for it.

for it. for it. Nice. Nice. Nice. Um Um Um yeah, we'll see cuz it it seems to your point the most predictable problem. Like we know how to get there. We know it's a supply and demand thing, but yeah, we haven't been building more houses. So, uh we'll see how the most unaffordable housing market in history reacts over the next couple months, years through the end of this administration. administration. administration. Yeah. Um yeah, we've seen a similar story like this in New York a couple weeks ago where it came out that in the I think the homeless charities were paying homeless people more than the medium income of a working person in New York.

Seems like We can't even buy that one. That's so wild. wild. wild. We seem like we have a similar problem in France. Corruption. Yeah, this this is aggravating. This might be a slightly different problem unless you just blanket assume that the government is corrupt. But so, this is crazy. The cost to a French employer of like if you want to get $39,000 in your employee's pocket, the cost to the employer is over $90,000. $90,000. $90,000. That is insane. The employee should be outraged. They're not because [ __ ] French.

I can say that because I am French. But the French, bro, like dude, what happened to you guys? That [ __ ] is wild. So, they should be up in arms, but they're not. They want more nanny state, not less, which means more dollars are going to be taken out of your pocket. And then somehow, some way, they can't see how disincentivized entrepreneurs are where it's like, "If I have to pay $90,000 I think it's more it's like $95,000 or something. If I have to pay $90,000 plus to put $39,000 in an employee's pocket, I'm just going to be like, "This doesn't make sense.

I'm going to go somewhere else, man. For sure, I'm going to go somewhere else." As well. And the caveat there is all this is before taxes, too. So, it's No, no, no. The 39K is because you're getting taxed. That's So, if you look at the breakdown, see those three bars? It shows like, okay, this is what the uh employee is going to get. This is how much goes to taxes. And then there's one that's too small for me to read from here. Uh but there's one other thing.

It's like pensions. Net salary, yeah. Employee deductions, taxes, and social security, employer contributions, employer pays. There you go. So, uh you it does include taxes that the employee is paying, but it also includes the additional that the uh employer has to pay. Jeez. Brutal, man. It is brutal. That is insane. 42. Legitimately, France, you should be ashamed of yourselves. This is crazy. Crazy. Crazy. Crazy. And so, this kind of sets this tone for all the backlash that the billionaire tax got because people were like, "Hey, this started off as just billionaires, and then as time goes on, it's going to get to hit more and more people." Yeah, but you're but you're but you're a long enough thing, this is going to be what happens to the average person, or you just start seeing more and more of our paycheck dwindle away.

Yes, but you're you're too educated. And so, cuz most people are totally for the billionaire tax. billionaire tax. billionaire tax. And it is going to take a lot of convincing to get people to understand they're calling it the billionaire tax, it won't be a tax on billionaires, it will be a tax on everybody, and they have specifically put into the bill that without out requiring a vote of the people, they can make it apply to anybody and make it recurring. So, dude, that is the craziest Trojan horse ever.

So, the majority people don't understand [clears throat] what you understand. you understand. you understand. So, I I don't think that there is pushback on the billionaire tax at this point other than from people that either are wealthy and know that like they're in the next tranche, or people that are educated that are like, "Oh yeah, this will eventually make its way to me." And it's crazy, too, cuz I do think that the sentiment is starting to change a bit, but I think because it's coming from those that have, it's just going to be like, "Oh, you're just a billionaire trying to get out of the bill," and nobody's going to actually look at the nuance of the other side of that argument.

Uh so, very very interesting. Uh Uh Uh okay, there's been a couple funny stories. Um this is not uh Friday funnies just yet, but I don't know if you've been following this JP Morgan uh fiasco, but it's been like hilarious. the memes on this are legendary. Parents, if you have kids in the room, now is the time to eject them. Uh this was terrible. This is terrible. I want to be very clear. If this is real, it is terrible. And there was a um uh like AI movie made like really showing sort of like a a more grounded take, and I was like, "Yeah, if that's what's happening, this is really terrible." Now, at a high level, it does not appear that that's actually what happened.

happened. happened. Well, we In the fullness of time, we need to let all this stuff come out. Who knows what knows what knows what I've seen a couple posts that you guys community noted, so they're not It's seeming like it he made it up, and none of this is true. That is correct. Yeah, so. Yeah, so. Yeah, so. Seems like allegedly, unknown at this stage, but stage, but stage, but his time, but Yeah. Yeah. Yeah. But this one is wild. Memes, the memes are worth the price of entry.

Catching those up, a JP Morgan executive allegedly used her power to sexually harass and abuse a junior male employee, drugging him, submitting him to racial abuse, and threatening his career. Some of the highlights from them are um Again, exit the kids. Exit the kids. the kids. the kids. With his boss saying, "I bet your little Asian fish head wife doesn't have cannons. Doesn't have these cannons." Yeah, so supposedly she was saying that as she was um presenting her endowments in an aggressive fashion. aggressive fashion. aggressive fashion.

That's the best way to motor to say motorboat I've ever heard in my life. Uh you really think management wants some brown boy Indian leading or originations? By By the way, my brains out tonight, I'm going to sabotage your promotion. The The one, do you really think they uh want some brown boy Indian uh leading It says or originations there. Other places have just said um organizations, so I don't know which is the actual real quote. But like, yes, [ __ ] do you know how many uh Indians from India run the biggest country companies in America?

It is [ __ ] staggering. So, that's like the lamest uh threat of all time. If I were him, I'd be like, "Yeah, yes, I think I think they do. The evidence backs that up." Uh if you if you check your screen real quick, I thought this was hilarious. You can see the shadow of the cannons POV your junior baker at JP Morgan, and your MD wants to have a performance chat. That is [ __ ] hysterical. That is goated in the extreme. Okay. extreme. Okay. extreme. Okay. What's that?

What's that? What's that? the joke Okay. Yeah, not tall like but, you know, she's powerful and Oh, she's powerful. She's talented, as the kids say. talented. Talented. talented. Talented. talented. Talented. A lot of talent. Okay, this is already some of your best Friday funnies, and I'm so sorry, because again, God, if this is real, it is an absolute tragedy. However, However, However, meme game strong, and it seems like it may not actually be as presented. Uh but Drew, do you have any of the memes where it's like the people in S&M gear running to apply for vacancies at JP Morgan?

That is the one I was in [ __ ] hysterics. There's a shot of a guy in BDSM gear, like full [ __ ] gear, waiting to be I hear it is. It's like, "Oh my God, this is so clutch." Uh okay, that last one was not funny. Sexual Sexual Sexual Sexual discomfort isn't funny. All those things. Memes. Yeah, things. All those things. Memes. Yeah, it's kind of There's There is that double standard, though, and I kind of want to talk about this. There was also the the hot teacher who slept with like a kid.

That story, and then in the deposition, he was like, "Yeah, she came over at 7:00, and she didn't leave until 11:00." And everybody was like, "Yeah, nice." Like, but it's just like, you're a kid, and that's wrong, and I know we should take this more seriously, but Yes. jokes. The memes are so good. I I I I will say there is a double standard, and for any human that is actually impacted by this, like if you were abused by a woman and everybody's clapping for you, but you legitimately feel traumatized.

And by the way, the reason that sex with kids is just it should be so taboo in all capital letters, they don't understand what's happening. And so, if you're a kid and you're you're you're a male, especially, and you're getting touched up, it's entirely possible you get an erection that you cannot reconcile like consciously. Where you're like, "Wait, I'm freaked out. I don't know what's going on, but I am also erect. So, now this is confusing." You hear this a lot with people that were abused, and they're like, "Physically, it felt good, and psychologically, I'm [ __ ] forever." Yeah.

And so, both of those things are true. So, it's always very disingenuous when people are like, um how could he ever get an erection like if he wasn't into it? It's like, "Well, unfortunately, overly tight pants can give you an erection if you're like young enough. You know what I mean? So, it's like uh that kind of stuff like it's not a good argument. So, like all of that stuff is real, but the reason that the double standard exists is the when you just average this stuff out, the level of sexual um appetite from men, especially young men, is like much much much higher than it is for women.

So, anyway, it's like those things are also true, which is where the comedy is born. It doesn't mean that it isn't a tragedy if it isn't what somebody wants. It still is an absolute tragedy. Um but anyway, There's something to the power dynamics thing, too, of just like like your boss and being submissive and dominant and all that. So, it's like, what's that quote? Everything is about sex except sex. Sex is about power. So, it's like it it goes into that. True. That's the problem. So, God, do we [clears throat] really want to have this conversation?

conversation? conversation? Uh I'm trying to to be very disciplined about not saying things that will damage Project Kaizen, but sometimes I can't help myself. Uh the power dynamics are They've gotten a bad reputation, but the reality is that power dynamics are such a huge part of sexual attraction that you cannot throw the baby out with the bathwater on that and be evolutionarily sound. The reality is is is um that there is a reason, especially when it's powerful male and the woman is drawn very specifically to that.

Mhm. Uh that That's just way too real. That is baked in at an evolutionary level. A woman is going to be in a hyper-fragile position as she tries to care for her kids. She is physically weaker than the man. So, for her to be um attracted to power is a survival mechanism that one would expect. Um so, that [clears throat] kind of power dynamic is always going to exist. Now, does that mean that some people abuse it? Obviously. Mhm. And so, is it disgusting when people abuse it?

Of course it is. But will women eternally be attracted to power? Yes. power? Yes. power? Yes. So, you're you're not going to be able to pull those apart cleanly. Well said. Well said. Um and then we talked about it in the intro. Um Brian Johnson, uh I I feel like he's just trolling at this point, like He is He's a good marketer. Yes, he does this aggressively on purpose. Uh this is the vaginal microbiome report, 100 out of 100 score. What Drew is leaving out, his first post does not give that context at all.

So, kids out of the room, this is the initial post. Just gave Kate oral sex, period. Good night, everyone, period. Full tweet. Full tweet. Full tweet. That's it. That's the tweet. Then he threads it with this is her vaginal microbiome report. Yeah. Yeah. Yeah. Top 1% of all vaginas. Literally, that's in the tweet. This is not Drew speculating. Everything reminds me of her, like top 1%. Slide into her DMs, guys. It's Friday. Go for it. That was one of the funniest This guy screenshot his uh like DM to somebody, and it just said, "Guys, send the text." I'll be honest, I actually considered sending the text, "Baby, this reminded me of you." I didn't, but I was like I was for real too.

Yeah, I see what the microbiome says, like, "Girl, come over." Send me a tweet and just say us. There was a guy that was like, "My new dating app application, uh the algorithm's going to match people by vaginal and penile microbiome reports." microbiome reports." microbiome reports." That's funny. Crazy. Uh Uh Uh yeah, I mean, this is technology and we're going to live forever and all these other things. So, there is that evolution of technology and health and how those that marriage of the two of those things, but come on, bro.

Like But there's also the evolution This one's hilarious. This guy Bryan Johnson organ tyrant Uh so, going back to Bryan Johnson. The first time I had him on the show, very informative, super smart guy, but he was very dry, a little bit dull. So, seeing him realize, "Oh, I get it now. I get the game. I know how to get people's attention." is hilarious cuz he really burst onto the scene by talking about his erection. And he was like, his the first hyper viral one he had was like, "I have the erection of a teenager." And so, that one went crazy.

So, he's probably had this one in his back pocket for a while. Now, the funny thing is that poor Kate came into the thread later and was like, "Okay, guys, Kate here. Yes, this is completely unhinged." Right? So, I'm like, now, she works at the company. Speaking of power dynamics, uh so, she worked there before they got in a relationship. relationship. relationship. Yeah. Yeah. Yeah. Now, whatever, to me that's just like that that is history at play, but I don't know if he went to her and was like, "Hey, I'm about to post this." And she's like, "Oh god, here we go." Or if she's like, "Yeah, it's going to be banger for the company.

Do it." Uh I have no idea, but she did come into the the chat and address it. Uh uh I don't know. It's one of those things where it's like, do we Is that kissing and telling? Is that dirty macking? Like Listen, with the amount of things I've talked about between Lisa and I, I'm not going to throw shade on anybody. Yeah. It's like, this is the the era that we're in on social media is you're going to talk about whatever you're comfortable talking about. And if you're down to go all the way there, hey, it'll get you the views.

Yeah. Now, it's a caustic strategy because there are people now that just hate him more and more with every passing day Mhm. and have more reason to say, "This guy's a shock jock. He's just doing this to get people's attention." But it's like, when you've got to cut through the noise as a business strategy, it has massive upside, but it has a cap. Like, there're going to be people that'll tune that one out. But if you have no other way to cut through the noise, yeah, cool.

Use it. So, um So, um So, um I I don't have beef from that perspective. It just comes down to how do people want to run their own strategies? strategies? strategies? This is crazy. Uh yeah, we got to talk about Erica Kirk, man. I I watched the whole thing. This is exaggerated. She wasn't really just breathing heavy for 30 seconds. This This is AI. Um But have you seen the stuff that isn't AI? AI? AI? Yeah, but that's the thing. Like, you're showing up looking like Darth Vader.

Like, what are what are we doing here? This is only mildly worse than the actual footage. That's the problem. It It It It doesn't make sense to me and this is like in in her monologue, it became she gets attacked every day. Candace Owens thinks I killed my husband. I shouldn't be out. I'm not qualified to run Turning Point USA. It's like she's regurgitating the Twitter talking points, but it's like you're doing everything but going back in the house and just relaxing. Like, just take a step back.

PR team, come up with a new plan. Like plan. Like plan. Like I'll say something slightly different. 3 weeks weeks weeks So, I don't know that she needs to take a step back. She is a very public figure that's being charged with like, assume that she's super ambitious. Mhm. Your husband dies, you want to honor his legacy. I get that not everybody's going to believe this, but just give it this read for a second. Yeah. Uh very ambitious person, husband dies, he leaves an incredible company behind that needs a new leader.

The people in the company want you to step into that role. It will, you know, feel uh very cathartic to see you step forward and do all this. But, you have a very unfortunate unfortunate unfortunate neutral face, a very weird affectation that you do. And legitimately, as somebody who has a very unfortunate neutral face myself, people have got to be honest about it and say, "Look, don't do that thing. It's very weird. You look very moody, very upset, very strange. Like, there's something about the way that when you open your eyes, it just doesn't read the way you think it does." It's the way we open your eyes.

It just looks weird. It does. And so, listen, I get it cuz there are there I'll see my own face in photos and be like, "Wow, that isn't how I felt internally when I was making that face." Yeah. And so, I have to come to grips with how I look and how I come across and it just is what it is. And so, it's like, "Okay, I've got deficits. I have to deal with those deficits." But like, I hope nobody here feels like they have to dance around true things about the way that I come across.

And somebody's not telling her something or she is just not listening because it's like, "Yo, you are not doing yourself any favors with these crazy ass looks." Like, you've got to understand like, "Okay, somebody said Oh god, this is a tweet I'm totally stealing this, but it was hysterical. And it was like you're talking about reducing Are you talking about anti-violence while dressed like a sniper? Come on, girl." And I was like, "Yeah, like, what is with that outfit? Like Yes. that [ __ ] is wild." So, anyway, somebody's got to help her from a PR perspective cuz this ain't it.

That's that I just feel like she just needs a rebrand, something. Like, she just needs to take a step back, come out for the children's awards, you know, hand out some teddy bears, something. Like Just give us something to just look at you and say, "Aw." And that's our only reaction. Just, you know, start there for a second. the fireworks budget. No more fireworks. No more fireworks at all. Um all. Um all. Um she is still getting slack. I know you were kind of like, Candace Owens kind of went a little bit too far.

Are you Candace Owens is straight-up unhinged. Here's the thing. So, my current flag in the ground, Candace is unhinged. Uh I don't think she is mentally ill. I think she sees patterns where the patterns don't exist and she's getting reinforcement from her community, which makes her see more and more of it. I think in the final analysis, it will be self-evident that she found she was like way over-indexing on the patterns. Um but if she ends up being right, like, I'll be the first to be like, "All right, damn.

Like, they I was wrong. She had the read." I will update my mental model of I'm under-seeing patterns. I'm not seeing enough conspiracy theory. I'm Whatever ends up being true will be true. true. true. Mhm. But wow, right now does she read like, "You are seeing patterns and they are leading you very, very astray." And then also the need to feed your audience and they're giving you so much positive feedback. Like, it it's just that's really tough. And I think about that a lot. I don't find myself pulled in that direction from a content perspective.

I'm only going to say the things that I believe to be true, but I can feel the danger on the gaming side. Where I'm like, "I'm going to make the game that people want to play." Yeah. So, it's like, like, what do you do at the edges where it's like, I've always said, "Okay, I want the game to be empowering." But I'll slide to neutral to make sure that the game exists long enough for me to figure this out. So, I'd be very disappointed if my game ended up just being like a Fortnite or something, but I will dry my eyes with the $10 billion a year.

I'll just I'm going to be very honest with you. So, it's like, I can see that like, "Oh, okay. I'm making a game for the public." Yeah. And if the public doesn't want to play the version that I put out, I'm going to change it. So, I get how people start going down that path, but you have to have bumpers. So, anyway, it feels like the bumpers are just gone for Candace. Like, there was something keeping her restrained previously that is no longer keeping her restrained because she has been a public figure for a very long time and for a long time I was just like, "Yo, this girl is really smart." And so, now seeing the like really like a beautiful mind schizophrenic like ties and stuff.

Well, now, again, I fully understand I may end up being the person who was like, "Bro, it was all there. You just couldn't see it. Bad on you." I will have literally no emotional friction with updating my mental model of my own ability to read the situation. the situation. the situation. But that's just not my read right now. Yeah. Yeah. Yeah. Um I don't think I got your Tucker Carlson take cuz Tucker Carlson recently apologized for voting for Trump and said that he's been misled, things like that.

I don't have a We I don't think we talked about Tucker Carlson. I've been gone deep on Tucker. So, my sort of high-level thing is, okay, what I know about the Dominion lawsuit is he's saying one thing behind the scenes versus the thing that he says in the public. I mean, didn't he say like outright that he does not like Trump even back then? Mhm. And so, but he was going online being like pro-Trump and behind the scenes saying he doesn't like him. So, it's like, there I'm already like, "Okay, this is a guy that will spin and position and all of that." Saying So, now, like, what do I believe that he's putting forward?

That he's putting forward spin, that he's saying the thing that he needs to say. So, I don't know enough about Tucker to know how mortified I should be. He is not somebody whose content I consume a tremendous amount of. Um so, I don't know. I don't get like, Tucker is not an easy um easy um easy um like, "Oh, he's somebody I want to get to know." Like, there's something there that always made me feel a little bit like I'm I'm seeing a representative versus I'm actually seeing the real person.

person. person. Mhm. Um so, take that for what it's worth, but um for him to say that he now apologizes for voting for Trump, I think there's a strong argument to be made if people feel that I shouldn't have voted for him. Like, I get that. That to me is like, "Oh yeah, there's um there's um there's um certainly a case to be made." So, I don't have beef with that. I would need to see what are the specific things that he's taking exception. Like, anybody who says Israel runs the world, I'm already like, "Okay, hold on.

Pump the brakes. Like, I don't see the evidence for that." Um So, that's where I start getting into cuz I've heard him say things like that. It seems like he's going down that path. So, on those things I'm like, "I don't know about that." Um that." Um that." Um But I'd have to see like line by line what he's got beef with, but there is plenty of [ __ ] to have beef with Trump on. Yeah. Is there any validity in your opinion of like this whole split on the right?

Like, the Candace Owens factions, the Tucker Carlson, some of the other people. It's obviously happening. obviously happening. obviously happening. Yeah, but it's just one of those things where it's like it's it's it's hindsight is 20/20. What they signed up for they didn't get and it's just kind of a natural breaker or do you think it's something it's something it's something That one I don't know. So, I don't know if I think that what people [clears throat] signed up for with Trump versus what they've got, I think you would have a very easy time going this is not America first.

I do not know how he thinks that the things that he's doing are going to make America great again. So, I'm totally off that team. This is what I voted for, this is what I got, doesn't line up. Um so, totally get that. Now, what their agenda is, like what they actually want to see, to see, to see, um if they laid that out line by line, then it's like, oh cool, I get where this is coming from. But there does seem like it's largely an anti Again, I'm headline level with uh Tucker for the most part.

Uh it does just seem like a lot of anti-Israel stuff that starts to feel fringy versus being well-grounded. Like, you can take Dave Smith very seriously. I think Dave really believes the things that he says. I think he's super well-researched. I disagree with him at some um of the conclusions that he draws, but sharp guy, well-intentioned, like I don't have beef with him even though we diverge sort of in the final analysis. But um somebody like Tucker I feel like might be a little more positiony.

Okay. And then positiony means like strategic like He's spinning. He he's trying to build an audience. He's trying to build a huge media empire and he understands that you've got to feed your audience. You've got to reflect back [clears throat] to them what they want to see, that he's far more likely to be um showing you political instincts. Like, I don't think you see um almost any of the time what Trump actually believes. Uh I think you see what Trump knows he needs to say in order to position people where he needs them to go where he wants to go.

And so, he's certainly more He reveals a lot more about himself than most people do and he will say the quiet part out loud all the time. But he he is very good at saying, yeah I'm not going to talk about that uh or just outright lying and saying this is the biggest, the best, the whatever. I don't think he actually believes those things. I think he knows that if I repeat that enough, other people will believe those things. So, Trump is anything but stupid. I don't understand people who think he's dumb.

Um he's brazen. That is for sure. for sure. for sure. Um meaning he'll lie straight to your face over and over and over with conviction and enthusiasm. Yeah. Um so, Um so, Um so, take that for what it's worth. But I I put at my headline level I put Tucker in that camp. Yeah. Uh I got to give credit to Ryan for this one cuz you were the one who told me he said that you think Tucker Carlson's going to run for president. Oh, yeah. His a whole like I've been analyzing his post-Fox career cuz I don't know if y'all saw it leaked recently.

They Someone hacked his website, found out he only has 7,000 subscribers on his website. 7.3 and how dare you? Yeah, 7.3 Yeah, 7.3 Yeah, 7.3 You saw the tweet. Um but uh basically, he is communicating and pivoting to the populist moment right now in order to I think gear himself up for the 2028 election to be the conservative candidate. That's my theory. That would be interesting. be interesting. be interesting. Because his pivot from um loving Israel to all of a sudden hating it felt so out of nowhere, right?

And so, to me I'm like, oh he's 100% just trying to get the populace and the most people on his side cuz now he's then pulling from both the left and the right audience that is now disliking Trump because of the MAGA civil war. That that read makes a lot of sense to me. me. me. Yeah. Yeah. Yeah. We'll see. It's going to be interesting 2028 cuz at the same time, Democrats still haven't still haven't still haven't spun up an actual candidate yet. Like, I know Gavin Newsom, Kamala Harris I'm sure she's coming back.

Nobody wants to vote for any of those people, but for somehow I do think the DNC is going to fumble the bag again and I think that whoever comes out of the right is probably going to win. I just don't think they have a going to happen at the midterms? Midterms is going to be Dems. Dems going to get it. I think for that reason the the president will flip as well unless something happens in the intervening time where the Republicans um pull off a growth miracle.

growth miracle. growth miracle. Uh it it it will once again be enough to say, I'm not Donald Trump. I really think that like will be enough. Like, for for an election that wasn't enough. But now, like bro, if you held the elections today and were just like, I'm not Donald Trump. I'm not a [ __ ] psychopath. I'm not uh attacking other countries. I'm not alienating every ally that we have. I'm not corrupt. Look at all the crazy [ __ ] that he's done. It's like, yeah, that's probably going to be enough.

And and I that makes me very sad, PS by the way, because I want somebody running on fiscal discipline. fiscal discipline. fiscal discipline. Um but I think for again, as of today, I'm not Trump is once again a winning strategy. It it sounds good. I just I don't I don't think it is cuz I Republicans are better at campaigning than the Democrats are. Democrats are going to go to their sweet spot cities. They're not going to try to get anybody in the center. They're going to spin up Nazi, I'm not Trump, free everything.

And I think the Republicans are still going to do keen middle ball. There's going to be somebody that's center MAGA, but is still traditionally right of Democrats and everything like that. And I think that's the white space that they can do. Like a classic Mitt Romney style conservative who is okay with Israel, but doesn't talk about it. Somebody who votes along party lines, but acts says some Democratic talking points that people shouldn't just die with their health care. Like, it's going to be one of those types of spins that's going to end up winning.

Oh, I was just going to toss in. I feel like the biggest problem between the Democrats and the Republicans is Republicans understand how to listen to their base and feed into that, give them the red meat. Democratic politicians across the board do not feed into what their base wants. And right now, what a lot of their base is asking for is a more left turn versus the center turn, which is what the Republicans did back in 2016 with the first election of Trump. I'm going to take exception to that.

What I think is they are um accidentally aligned with the far left and have been pitching that message non-stop violence. And now, the world is catching up to them. And so, even if they're not doing it specifically to appeal to their base, they are going to appeal to their base because with every dollar that we print, uh we are putting ourselves in a situation where the middle class is getting hollowed out harder and harder. And now you're in a position where people are just like, the only way for me to get ahead is if you make this [ __ ] free.

If you start um repressing wage or not wage increase, but uh pricing increases in housing and things like that, it's just all going to start to sound better and better. Um and so, from the second Mondani got elected, I was like, uh-oh. Like, this is where the energy is culturally. Um we'll see. The thing that Mondani had going for him is being in a city with so many foreign-born foreign-born foreign-born um people. And so, does that then hold across the US because people that were born in America were far less likely to vote for Mondani than people that weren't born in America.

And so, New York is going to have a much higher proportion of that presumably than across the US. Uh but you will have places like California where we have a ton of non-US-born people. And so, if they vote in similar ways, um if there are enough pockets like that, and I certainly haven't thought through this, but if there are enough pockets like that, I could see um that energy really just igniting. That one feels like it's on the upswing. I'll give I'll say that much. Yeah.

Uh all right. Let's do the jokes that I do got. Um got. Um got. Um we covered a couple of them. This one was just funny. Hasan, you set yourself up for this one. I don't even know what you were thinking. The caption reads, "Lenin in one hand, Cartier on the other." And a performative post from Hasan reading a book from uh That's Lenin, right? Um What it What is to be done? While wearing a $4,300 Cartier ring. Maybe it was a fake. He No, no, no.

It's real. Like, this kid is bougie as [ __ ] And let let me just say, this kid is for real a Chad. He is tall as [ __ ] He's broad all day long. He's good-looking. He's rich. Like, goddamn. And he's got that populist message. This guy, like, get on Brian Johnson's subscription model cuz he can have the caviar of uh I'll leave it at that. But like, goddamn. like, goddamn. like, goddamn. have all the microbiomes he wants. All the microbiomes, Drew. Top 1%. He wants the top 0.1%.

This kid could get it. So, uh there's no reason to deny my man's prowess. He's got the money. He's got the drip. Like, he dresses well. He's got style for days. For real. Like, this guy is the total package. The only problem is problem is problem is the things that he like puts forward, his political um philosophy, gets people killed. So, that's the only catch. But like, man, he is really in tune with what people want to hear. Now, how much of it does he believe?

He probably believes a lot of it. And he may just be young enough that he doesn't see where it breaks. He hasn't thought through like like like why has this always failed historically? Like, where So again, going back to I look at the world through the lens of a spreadsheet. There there is a cell somewhere in the spreadsheet that breaks. And one of the things that people just don't account for is uh humans are altruistic with their family and friends and absolutely not when it comes to the wider world.

And the second you expect them to be, then parasites come from all over the place who are the people that just won't get in line with what you're doing. And so, then all of a sudden you have to have secret police to figure out who are the parasites. Then all of a sudden you realize, wait a second, there's some parasites in the secret police. And so, now are we actually killing the right people? And it just gets psychotic so fast. And so, if I could get him to read like the Gulag Archipelago and stuff like that, he might walk away going, okay, here's my strategy for why this isn't going to work, why we won't have these same problems that we had in the past, we won't have them in the future.

And if he can detail them out, then you can just start going, "Okay, but how are you going to address this problem, this problem, this problem that made that happen before?" Like, how do you actually stop parasites from becoming part of the government? How do people stop hiding? Who do you trust to actually identify the right people? It it it's one of those where he'll have an answer, but everyone will be able to to hear that it's terrible. And so, if I'm going to continue doing interviews, that's the thing that I really have to start doing is go, "I'm just here to map out how they plan to solve for these problems." Mhm.

Mhm. Mhm. Um that would be at least the thing that would make this interesting. I got close to it with Dave Smith, but probably not all the way there. I'd have to go back and watch the episode. Um but yeah. Anyway, that's where these guys all fall down is they stop at a feeling. This feels right. And because it feels right, then I don't push this any farther. Yeah. I'm with it. Uh Yeah. I'm with it. Uh next one. 52-year-old American Pie actress Shannon Elizabeth earned over $1 million in her first week on OnlyFans.

That is crazy. True. Seven years of feminism and the most profitable occupation for women is still prostitution. So, you did it, women. Oof. Oof. Oof. This one This one This one Here's the thing. Glad that she has the opportunity to do it. It is utterly hilarious to me that uh men really do be like this. Like, they really just Let me just see him. I just want to see him. How much does it cost me to see him? Yeah. That's what I will pay. Dude, monkeys.

Remember, boys and girls, the second monkeys were taught that grapes are currency, the first thing they traded it for was sex. So, uh this is is not even just a human thing. Like, this is what we do. Um so, I get it. It is There's something interesting about interesting about interesting about as you get older, it starts to feel weird that you're still using your sexuality to get ahead. Mhm. And I've even thought about this. So, because I really um am focused on creating entertainment that positively impacts kids specifically in the 11 to 15-year-old range, 15-year-old range, 15-year-old range, the only way I'm going to be able to do that is if I'm aware of youth culture.

Mhm. Mhm. Mhm. And there's like these two paths before me. So, um if you guys don't know, I can't believe the following statement is true, but it is true. The best asset class of last 5 or 10 years, but certainly last 5 years, is uh pop culture merchandise. So, um um um uh uh uh Pokémon cards being one of the easiest to point to, but it's not just that. So, imagine. It's outperformed Bitcoin. It's outperformed the S&P 500. Pokémon cards. It's wild. So, I can interface with the culture, Pokémon cards.

Like, I legitimately collect One Piece cards. Uh I'm watching One Piece like a psychopath. And so, there's that and getting in touch with that, but you're doing it as an investor, as somebody who's interested in like, "Okay, where is youth culture? How's it going?" And then there's being of youth culture and trying to like Like, I've really In fact, if you are a game developer, for the love of God, I I want to start like a WhatsApp group or a Telegram group or something for developers.

And I really want to um see like how young people play the games and all that. But anyway, as I think about remaining relevant to that group, like actually myself being forward-facing, I start to feel weird. Like, there is just something about I don't feel weird at all engaging with culture as an anthropologist, as an investor, but I feel weird trying to be of the culture. And it's like, "Why?" But there really is something there. And this triggers that same feeling for me. Where it's like, when I'm an anthropologist as an older woman of female sexuality, cool, makes sense.

When I try to express my sexuality as an older woman, it starts to be like, "Uh There's something weird about that." And now, I'm married to a woman who is about to be in her late 40s. And so, it's like, but I still see her as this incredibly sexually charged, sexually attractive woman. And I want her to be completely embodied in her sexuality, to enjoy her body, to feel sexual, to move sexually, all of that. So, it's like, "Well, then why does it feel weird when she does it?" Because it's abstracted from my life, I guess.

But there still really is something weird. And there will become an age where I'm like, "Yes, baby, I want you to do that kind of thing for me, but it feels weird now if you're posting on Instagram in like a sexually um you know, provocative manner." manner." manner." So, there is something there. And I don't quite know how to reconcile it. Yeah. Cuz it seems like it's it's less even about the sexuality, but more so like the time frame that deals with it. So, it's almost It is old people trying to cling to youth is the weirdness.

I'm just not sure why it's weird. Let me make a pitch for you. Uh I Uh I Uh I I think I don't know yet. This will play out in the fullness of my life, but I think one of the reasons that I've been able to do different businesses and continue to be successful is that I um there's a part of my brain that does not function {quote} {unquote} well, which is that I don't calcify. My beliefs are I've I've often told people, "If you exit my life within 10 years, I'm going to struggle to remember your name." And I hate that about myself.

But I think it actually has an upside, which is I don't calcify into dogma the way that people normally do. So, there's this great quote in um physics that science does not advance one insight at a time. It advances one funeral at a time. time. time. Mhm. Uh there's another quote, "Genius is a young man's game." Why? Why are these two things true? Why do people have to die off for the new thing to come forward? Why can't old people go, "Oh, yeah, that is better.

That is more useful." Why is it that when we're young, we're far more likely to have the breakthrough than when we get older? Think the answer is you learn that certain things work and you just optimize. These are the things that work. But the world doesn't stay the same. It changes. So, the very thing that helped you when you were young becomes a liability as you get old. That doesn't happen to me. And it's just I'll forget how I used to do something. And I'll have to like re-remind myself, "How did I approach that problem?" And so, because of that, I can update, update, update.

Now, I may find this is delusion and I'm lying to myself and I'm just as calcified as anybody else and and I can't stay relevant. Whatever. We'll see in the fullness of time. But right now, what I'm saying feels true to me. It really does feel like I'm just constantly on the search for what's the thing that works right now today. Uh so, for instance, I grew up on Western um entertainment, comics, things like that. But I have legitimately fallen in love with Japanese storytelling. Um and so, if we can refresh ourselves and fall in love with something new that's youthful, why is that so weird?

It is weird. I can feel it. I can see it. I see it in other people, certainly even more than myself. But I'm not yet sure why that's so weird. Mhm. But it is. So, don't know. All right. We got some super chats right at the buzzer. Yep. Two to close it out. From Jose Mata says, "Hey Tom and Drew. Thanks for your work. Love tuning in. As a would-be first-time homeowner in a market like uh PHX with a family, what's that?" Phoenix. Phoenix. Uh Phoenix with a family, would you buy a home given the debt crisis?

I'm finally able to afford it, but how'd you decide? Phoenix rentals have been dropping like flies, too. You can get a nice rental in Phoenix. So, are you one of those like buy when it makes sense, rent otherwise? Or Yes, aggressively. So, if you think of owning a home as a forced savings account, if you're willing to pay the premium to force you to save the money, it can be great. But you're going to have to do upkeep. You're going to have property tax. I'd be far more interested in buying somewhere if they get rid of property tax, which Florida is talking about doing.

Um so, that gets more interesting. But houses are tough to upkeep. Um but you're going to get a lot of pressure from your wife, if you have a wife, uh to nest. And so, men think of it as a nest egg. Women think of it as a nest. So, it ends up being just psychologically often times the right thing to do, even if economically it's a little bit questionable. Um so, from that perspective, it's good to have a forced savings account. But if I could snap my fingers, right now I would own zero property.

I think right now in California is a terrible time to own property. I don't know the Phoenix market well enough. Um so, think of it that way. Um I would optionality right now, I think is really strong. I think that we've got bumpy road ahead of us. Now, having said that, keep in mind, if I'm right that Kevin Warsh is going to come in and it's going to be financial repression, having debt is actually useful. Because the debt is going to reduce in value every day.

And as long as your wages at least keep pace with inflation or inflation or inflation or at least outpace the rate at which the dollar weakens, you end up in a better scenario. So, the government is almost certainly going to work to your advantage. The government and the Fed is going to work to your advantage devaluing the dollar so that the debt becomes easier to pay off over time. All of that's real, but it starts to get very complicated. You'll have to look at this specifically to sort of run the math to see where you come out ahead.

And last super chat from my favorite user name, Senile Old Man. Tom, love the show. If we accept the premise that our universe is a simulation, couldn't God be programmed a programmed entity within it? Like many modern games include deities. [ __ ] That's really interesting. Yes, of course. Now, there are still though the unmoved mover that people are going to have a question about. So, you you don't dodge the need to answer the question of why something instead of nothing, which is the most profound question any human will ever ask, but as soon as I say it, it just sounds like sounds like sounds like empty words.

But when you really stop and think about that one, that one's the question. Um so, yes, there may be a thing inside the simulation that we think of as God that's doing all the like I can pray to him and it does a thing. Like it's possible that that's coded into the matrix, for sure. It's really, really fascinating. Uh but the unmove mover remains a question. question. question. It's inside of the lore of Project Kaizen, there is a question of where is the array. Not what is the array, where is the array?

Meaning where is the server that's running this simulation. And so, that's the question that people still have to contend with. If we're a simulation, where where are the servers running this thing? That's our super chat. All right, that's all I got. There it is. All right, everybody. Happy Friday, as Drew said. Have a wonderful weekend. And for any of you guys out there that want to build a business using AI, remember, we've got a ZTF, Zero to Founder, AI Masterclass on Thursday, May 7th. So, this coming Thursday at 1:00 p.m.

Pacific. It is free. And I will show you how to build a company using AI. This is an awesome class. It is super free, and you will get a ton of value out of it. So, I hope to see you this Thursday, May 7th at 1:00 p.m. Pacific. All right, everybody. Have a wonderful weekend. Peace.