Kind: captions
Language: en
money printing has turned the entire
world into gamblers forced to risk it
all in the stock market just to escape
the crushing effects of inflation now
today's guest is showing that even that
game is rigged Chris Joseph's
accidentally became one of the most
important whistleblowers in finance his
app autopilot started as a joke with a
tagline invest like a politician but
ended up exposing just How Deeply
corrupt Congress has become his online
trackers show how lawmakers like Nancy
Pelosi appear to be profiting from from
Insider knowledge while everyone else is
left to try their luck if you've ever
felt like the system is broken here's
your proof and here's your road map for
how to win even when the game is rigged
against
you has Congress just become a corrupt
hedge fund because looking at some of
the data that you guys are putting out
it seems self-evident that they are
trading on Insider information I mean I
wouldn't go so far as to say that they
are blatantly outright wanting to trade
on Insider information very generous
yeah I know right I'm covering my bases
but what I would say is they do a lot of
sketchy stuff that align with things
that could be portrayed and seen as
inside of trading for the everyday
individual you know examples like buying
a stock having a law come out to benefit
that stock the stock goes up 30% they
then happen to be sitting on the
committee that oversaw the law that
passed so now they're profiting from
things like that that is happening on a
day-to-day basis are they calling up
their financial adviser or going right
to their Robin Hood app doing it right
while they're in those committees I
don't know it's hard to prove but there
is sketchy stuff going on they are
outperforming the market and I think the
public is kind of pissed and fascinated
with it at the same time yeah so the
whole idea of uh invest like a
politician which is the the slogan of
what you guys are doing why was the
response to go okay well if we can't
beat him let's invest just like him the
story on how the Pelosi tracker started
that culminated into autopilot which is
you know again our app slogan invest
like a politician shouldn't be that
popular it's pretty popular and I think
it kind of captures what you were kind
of getting at they if you can't beat him
join them movement but it started back
in 2020 2021 uh where anyone on social
media would see these things going on
unusual Wales is an account on X they
deserve a ton of credit quiver
quantitative they're an account on X
they call out these politician stuff too
and they deserve a ton of credit as well
but back in 2020 when everyone and their
mom was investing in stocks because Co
happened and the government gave you two
grand to gamble with uh people started
trading stocks and people started being
paying a lot more attention to it we
were one of those people kind of
building our app at the time which was
called Iris it was a social investing
app to follow your friend stock
portfolios when I'm I'm the co-founder
of it and when I was thinking about how
do we grow the thing I turned to social
media and I saw that unusual whales were
starting to call out some of these
politician trades and it initially
caught my eye and I was surprised at it
because I the time time I didn't
necessarily know it was legal like I'm
29 now I didn't grow up studying
politicians trading in 2018 when I was
in college I noticed it in 2020 and it
surprised me that how can that kind of
be a thing how is that even legal to
begin with why would it be illegal what
is the mechanism that you think is going
on behind the scenes what's crazy is it
was they didn't even have to publish
their trades before 2012 politicians the
entire time that we've been tracking
them and I honestly I think the entire
history of the stock market they've been
allowed to actively trade in whatever
they want there has never been any guard
guard rail saying hey you as a
politician you cannot trade that certain
individual stock or that industry the
only things that have happened that have
actually kind of capped this uh blatant
hypocrisy has been the stock act in 2012
which forced them to publicly disclose
those filings and there's a story on how
that all happened because they were
trading on the uh the housing crisis
which is insane why me through that
though cuz for I think that the average
person does not understand how money
works full stop they don't understand
the stock market or even necessarily the
fundamental idea behind assets so what
is it that triggers somebody like
unusual whales to say hold on a second
this is bad versus this is a thing
that's happening I think it's two things
one is the corruption where kind of we
just hinted it at the beginning like
what caught unusual whales eyes what
caught my eyes I think it was just the
blatant Corruption of how are are these
politicians allowed to trade in in I
came from the finance background but how
are these politicians allowed to trade
in individual stocks while me you know
my friends we're all working in New York
City we can't do it so that I think was
like the first part because uh so I have
buddies that worked in Investment
Banking they would be covering you know
a certain sector like healthcare they
have Insider information on Deals they
have Insider information on the broader
spectrum of the healthcare industry they
per the SEC and per their their
employers are not allowed to trade
individual stocks in healthcare it makes
sense you know it's like if you're
working on a deal of a merger with this
one healthare company and that one
healthare company and if you know about
the information the Stock's going to go
up you would want to buy that stock the
SEC though is like no you are not
allowed to do that because that would be
called that would be Insider information
the politicians are allowed to do that
exact scenario exact same thing they sit
on the Committees though and their
employers is the US government but they
can know things and they can go trade
stocks and they can do things to set
themselves up to benefit the news that
is going to come out and you know Co the
co is where a lot of this stuff started
with Richard bur and I I can get into
that story but to answer your question
too on like why what is the average
American not truly understand about it
is 60% of Americans right now are
investing in the stock market they know
they have to do it they don't
necessarily really know why they have to
do it but you know things like inflation
the stock market is the only really way
to grow wealth everyone's got a 401k for
for the most part they should be
investing in the stock market once you
get into it though and you realize that
the game is not rigged for the everyday
retail investor it's actually rigged
against you you then start realizing and
your your eyes are opening up to more
and more kind of truths about how the
stock market works and you got to be
careful because it's a doggy dog world
there's sharks out there politicians
however though are living in this whole
another world in the stock market where
they are allowed to kind of do anything
they want meanwhile everyone is out here
trying to kind of hold their own
investing in individual stocks that
they're trying to do and it it turned
into like a
hypocritical um opposition and that I
think is where social media kind of
captured it all so what do you what do
you think is worse the fact that they
have potential Insider information or
that they can influence something so
like the chips act which is going to
essentially pick winners and
losers uh which of those two is more
problematic I think the first one I
think the trading on inside information
because there's a really simple solution
to it all it's these politicians don't
trade individual stocks put it in ETFs
put it in the broader Market the reason
why I answer that is it's hard to limit
the politician from picking winners with
some of these acts you know there was a
bill that passed this morning for the
sports betting industry that obviously
is going to be beneficial for the sports
betting companies the politicians should
not be limited on how they approach and
kind of run jurisdiction over that bill
because they own individual stocks I
think the individual stocks is the
problem part and you got to cut that
piece out and the solution is pretty
simple it's just put them in ETFs put it
in the S&P 500 or just don't own
individual stocks to begin with go about
your job being a
politician setting up regulations making
sure the American people are safe which
whole other conversation if they're
doing that uh give us some receipts so
what are the the big sort of things that
an account like unusual whales or your
trackers are picking up so my morning
routine and unusual whales does this too
is we have been studying this stuff for
so long that we know the majority of the
politicians which ones are doing it we
know what committees they're sitting on
and we know the stocks that would kind
of
um what we call you know notable
politician trade alert it would flag it
uh an example this morning actually so
it's insane yeah it's at 11:00 here I
woke up at 700 went through my kind of
morning routine studying the politicians
studying the trades and I realized that
uh there was a new politician named
Ashley Moody republican from Florida she
is the politician that actually replaced
Marco Rubio senate seat she used to be
the Attorney General in Florida uh back
in from 2021 to essentially 2024 during
that time while she was doing it she was
very much Pro getting Sports legal
sports betting legalized she would go on
the record saying you know hey this will
bring $3.5 billion of annual revenue to
Florida we should do this we should get
this done she filed the trade a week ago
but the stock was originally bought on
February 24th uh 2025 that stock was a
company called genius Sports small2
billion Sports spending company wouldn't
really kind of raise too many eyebrows
unless you knew necessarily about this
stuff turns out two weeks after that on
March 13th there was a a Democrat named
Richard Blumenthal he prop proposed the
new bill that essentially is creating
legalized Federal limits for sports
betting it is a path towards getting
sports betting legalized for the entire
country on a federal level on that news
the stock started popping 15 16% then
turns out that that bill is now got
reviewed twice and got pushed to the
next stage of this which is being
reviewed by the Senate Judiciary
Committee guess who sits on that
committee oh God it's Ashley Moody the
Republican that just bought the stock a
mon ago fast forward to today it's up
25% and when you we then went back and
we studied is like does she have any
kind of relationships and anything with
that genius Sports when she was the
Attorney General partnered with uh a
company called um rock um Hard Rock
sports betting and hard rock sports
betting is the only legal entity in
Florida that is allowed to sports bet to
some degree so now you then kind of come
full circle and you're like holy crap
the politicians been pushing for this
the entire time in her State of Florida
just bought a stock that will benefit
from this J the legislation if it does
get passed and now she's going to be
sitting on the committee that is going
to oversee and kind of pass the bill
that's the example of rules for thee not
for me how are they allowed to do that
when you go back to the example that we
were talking about with a healthc care
investment banker you know a lowlevel
guy that isn't going to do anything he
can't do that meanwhile the politicians
are blatantly doing it right in front of
us that's what irks me that's what makes
me angry and that's what inusual whales
us and quiver Quant the other guys in
the in the space are trying to stop do
you see it as problem solved though if
the guy in the health care industry can
also place the bets or is this a bigger
problem than that I think it's a bigger
problem than that I don't think the
solution is uh allowing these
politicians to trade the stocks and I
think it is for one reason and one
reason only it's trust I think that
there's a lot more of distrust that
comes out of politicians being able to
do this whether it's Shady whether it's
not shady whether it's allowed whether
it's not allowed them just having that
Optics I think creates a lot of problems
that should not be allowed and we should
cut it from the root right there that's
my solution okay so I here feel a lot of
push back on this idea of
oligarchy uh part of my drum beat is
oligarchy just means rule by the few uh
it doesn't mean rule by the wealthy it's
a different word but I think
ultimately there's two things at play
there is rule by the wealthy which
probably would really freak people out
yep uh but this feels more like a hot
button issue to me of rule by the few
that have Insider connections Insider
information and they're using that to
get wealthy um why do you think that
strikes people as so grotesque yeah I
got a good example to hit uh to set the
stage for that conversation and it's our
it's the queen of it and Pelosi um cuz I
think like what you're describing is
exactly right and it's becoming a bigger
and bigger thing now that Elon Musk is
involved with the government you know
this and that but like let's not forget
like Nancy Pelos you know we're talking
about rule by the few rued by the
wealthy Nancy Pelosi is worth 280
million she's been the speaker of the
house for you know 10 years the Biden
family they're worth millions Cala has
just signed a book deal for 20 million
you know and Trump and them they're not
making it any better but it's always
kind of necessarily it's always been
like that uh Nancy Pelos the timeline on
her wealth is she got married to uh a
tech investor Paul Pelosi back in like I
think 1994 1995 they were not wealthy at
that time maybe they had a couple
million you know justif fored they
probably were wealthy but not not you
know big whatever she has been a
lifelong politician fast forward to the
time when she became the speaker of the
house which was the first time I think
it was around 2008 2009 which
coincidentally was when the stock act
happened um her wealth stop trading on
Congressional knowledge isn't that
insane it's literally called stop
trading on Congressional knowledge that
if that wasn't a sign to begin with yeah
uh her net worth when she became the
speaker was around 20 2021 22 million
still a lot but the time of her becoming
the speaker to now she's 10x that she's
gone from 22 million to now 250 260
million it's not like she's getting paid
anymore she's been getting paid the $180
the $200,000 salary consistently for the
past you know x amount of years how do
you 12 13x your wealth kind of over that
time
period a lot of it did come from the
stock market and from her private
Investments and kind of things like that
and you know a good example of it is uh
she made like 20,000% on Visa who she
was able to get she was one of the
politicians if you know about the stage
of uh if uh there's a famous 60 minutes
interview where a politician is asking
Nancy Pelosi like do you think
politicians should trade stocks do you
think it's a conflict of interest that
you and your husband are allowed to get
into kind of these individual stocks and
um the thing went viral because she
essentially was like no yeah we should
be allowed to do it it's not that big of
an issue when she was the speaker her
and her husband her well her husband she
won't take credit for it but her husband
was given um special privilege to invest
in the Visa IPO before it went public so
how the IPOs work and Visa so you know
this is the largest IPO at the time back
in 2008 2009 the bankers they take these
baskets of stocks they CU you know
they're about to issue new shares and
they go shop it around they go to the
banks they go to the the wealthy
individuals the private off offices to
sell those shares before they bring them
public I don't know how Nancy Pelosi got
access to that but she and her husband
did and they were able to get into the
IPO before the actual before the shares
were available to the broad public and
since that time the stock is up 20
20,000% so she Pro she made probably 10
to 15 million 20 million on that trade
Alone um so how do these politicians get
rich a lot of it is that and it's weird
because they are only get paid $175,000
salary but there are countless examples
of them entering office being career
loong politicians and then leaving
office wealthier whether that's from
speaking engagements whether that's from
book deals whether that's from insider
trading you can't deny that these
people's wealth does go up while they
are in office and I think that's a big
problem that is gotten to the point now
where we're questioning everything and
we're getting annoyed at Elon we're
getting annoyed at you know Elon and
Trump they have their own problems you
know here and there but I think it's a
broader picture that uh has to be talked
about more and more how are these
politicians getting wealthy while they
are in office okay so let me ask do you
make a distinction between them getting
wealthy off of the stock market them
getting wealthy off a book deal a
Netflix deal any of that or is that all
the same to you I think it's all the
same to me um a little bit of a
difference is the individual stock
trading the hard part is a lot of these
politicians their husbands and Wives
come are working in kind
of good jobs you know the some of these
politicians there's a politician from um
Illinois Iowa he his his wife sits on
the board of a bank and they're getting
stock from that from that deal and he
the Stock's up like 70 or 80% it's
called Farmers Bank Insurance small
little micro cap Bank stock they're
making money on that he's a politician
she's sitting on the board of the bank
is that a conflict of interest ins is
that insider trading not necessarily
maybe but they are clearly getting
wealthy from that while he's in office
and maybe there are things that are
going on we haven't seen any laws that
have been passed to benefit that stock
and benefit that bank but they the
Optics again they still are getting rich
from that
um insider trading they've never been
proven multiple politicians have been
investigated Richard Burr Kelly laugher
uh that trade this morning from uh
Ashley Moody honestly should get
investigated uh they've just never been
proven and I think that's also the
frustration around you know is it a
problem yes is anything going to happen
to it not necessarily walk us through
the timeline on Richard Burr so this is
the trade that I think started the whole
um microscope on them because it was so
blatant it was actually unbelievable and
also it was insane of what he did and it
was investigated it was fully
investigated by the and doj both of them
and then nothing happened so the
storyline goes on and I may kind of get
the dates wrong a bit here but this is I
can back you up I have most of this
stuff written down so okay perfect yeah
so this is 20 late 2019 early 20120 this
is before the co scare
happened early
2020 the public is starting to hear a
little bit about covid what's going on
how bad is this how kind of severe is
this Richard Burr said as the head of
the Senate intelligence committee so he
was receiving kind of information he was
understanding kind of what was going on
probably more than the general public
that's a pretty big position head of the
Senate and intelligence committee oh I
think it was on March or uh February 7th
or something around that timeline he
wrote an oped to the American public
literally telling everyone hey don't
worry things are going to be okay we
have our in this you guys should all go
about your daily business day-to-day
Pretty much telling the public not to
don't worry you know it's fine a week
later he is briefed as the Senate
intelligence committee he probably hears
something that again the average
everyday American doesn't know he's now
realizing like holy crap the severity of
Co is way worse than I originally
thought he calls up his financial
adviser and him and his financial
adviser liquidate his entire retirement
account how long after the briefing was
this uh
the same day yo they all know this
because of what you just said they were
got investigated by the doj and the SEC
so they had to publicly talk about these
uh these phone calls that happened he
liquidated his entire retirement account
which like you're not going off and
you're not selling off your retirement
account for anything you're doing that
because there's clearly something
happening to make matters worse he then
called his brother in-law and his
brother-in-law called his financial
advisor that first in financial adviser
didn't answer so what did he do he
called his other financial adviser they
had a two-minute conversation and then
on the record after that conversation
the brother-in-law and that financial
adviser liquidated their $280 $300,000
portfolio all in that same timeline so
now you got the sen head of the Senate
intelligence committee calling up his
financial advisor selling out of his
retirement that guy then calls his
brother-in-law his brother-in-law C his
financial adviser they sell out of their
retirement account a week later
Co kind of hits the broader public
stocks fall 30% and they saved all that
then and there they then get
investigated the SEC comes in they're
like what the heck was going on doj was
there actually Insider information I
don't know how that's not Insider
information yeah that seems like the
most obvious blueprint code of they give
any sort of public statement the SEC or
the doj they said they investigated and
they couldn't find any actual
wrongdoings and you know Richard Burr he
stepped down from the head of the senent
intelligence committee he's like you
know while I'm getting investigated I
think it's a conflict of interest the
irony it's a conflict of interest to be
on this Senate intelligence committee
while getting investigated he steps down
they don't find out any problems he
retires the next election cycle and he
goes off into the sunset no problems no
harm no foul what do you make of that is
it that these people just have too much
power and so meaning that uh somebody
that's chairing the head of the
intelligence committee he's not the guy
that you want to make an enemy of the
state is he's going to know a lot of
things and he could go blab about it or
is it well maybe if I looked at all the
same details I would walk away going no
no no it's just fine yeah I think it's a
big club that we're all not in I think
Republican Democrat it doesn't matter
they all have they all are the ones
making the rules and they all don't want
to change it so the the accountability
side of you know why does nothing ever
happened I think it's cuz they're the
ones making the laws
on mitigating and um having jurisdiction
over the people doing this and they
don't want to change it for themselves
so they kind of turn a blind eye and
they don't necessarily look an example
of this is like
um the aside from obviously going to
jail so per the stock act they have up
to 45 days to file those trades if they
violate that stock act they are in
violation of the law they get penalized
for it these politicians going to be
trading hundreds of millions of dollars
tens of millions of dollars and if they
don't have if they can't file trade into
45 days like what are you essentially
doing why is it taking so long the fine
if they don't if they break the law on
that is
$250 it's it's a parking ticket you know
and why is it the fine so low it's
because they're the ones that are
overseeing and they're the ones that are
making the rules for the club that
they're in why would they make it any
bigger what are the incentives that they
have to change anything and I think that
is the problem and that's like why we're
trying to harp on this autopilot the
reason why we're essentially doing a lot
of this stuff is we're trying to get
them banned from Trading we're trying to
bring change back into it to bring trust
back into the institutions and it does
start with them making the rules for
themselves they should not be allowed to
trade stocks and they should also should
not be the ones making the laws on them
being allowed to trade stocks to begin
with too so I think it's a big rules for
thee and not for me and it's a rich
people club that we're just not in we'll
get back to the show in a moment but
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okay so you guys are banging the drum
you're posting about this on social
media certainly during Co I mean this is
Ando this is Catching Fire people are
going
crazy how is it possible that in 2025
this is still going on what where is all
of this breaking down because I would
think that we the people could make
enough noise that this would get changed
but it's not happening y you would think
and I mean on top of that like this is
why kind of the cool thing about
autopilot is uh it's one thing to call
out the politicians and like it's
another thing to then kind of some put
some money behind it you know saying you
know [ __ ] it if you guys aren't going to
change it we're going to start investing
alongside it we built an app that
literally does that and so now we have
an app that lets you go and invest
alongside the politicians it's then a
whole another thing to have it become
such a problem that there's $500 million
copying Nancy Pelosi Dan Crenshaw um
Margery Taylor green Mark Wayne Mullen
Republican Democrat doesn't matter and
that has turned into such like a rally
and cry and that's our biggest hope of
why we think that we can kind of get
something past because it's again one
thing to call them out it's another
thing to follow them it's another thing
to actually get some money and invest
alongside them because it perfectly
portrays like the corruption and the
blatant problem with it 2025 has coming
around we've been doing it four or five
years there are bills now that are being
pushed to try and get them banned from
Trading but nothing has ever happened no
politician has ever necessarily really
reached out to us to try and actually
get a ban across the across the uh the
Finish Line they haven't or because you
said they haven't really has somebody or
the only politician that we've had
constant contact with is rahana uh and
he credit to him and also credit to AOC
um they've been pushing for it Matt
Gates did a little bit um rahana is the
politician that has been pushing for
four things one ban on Congressional
stock trading two term limits three ban
um special lobbyists and interests and
then four you are not allowed to be a
politician have that job and then be
hired by you know a locked Martin and
Aon a mega Healthcare company to consult
them of how to get a get away from the
laws now he's just flirting yeah I know
right like can you imagine is he popular
I've heard the name but I know liter
the funny uh irony of that is his um
district is San Francisco so he comes
from the tech world and Nancy Pelosi
also San Francisco so I wonder what
different choices I know right um he is
popular with that 100% uh he still
though he's not one of the more powerful
Democrats I think this is just me I
don't fully understand the power laws of
these different politicians and who's
more powerful than the other but that
message that we post on our social media
accounts on Instagram and Tik Tok or
Twitter definitely gets a lot of
attention and people do 1,000% support
that there's 86% of Americans support
the politicians getting banned from
stock trading I don't know who the other
14% are but they're related to
politicians yeah and if there's one
thing that I think all Americans can
agree on right now you know we're such a
polarized Nation it's sad but everyone
agrees that these politicians should not
be allowed to trade stocks and rahana is
one of those politicians that has been
pushing for these bills and blatantly
calling it out trying to get a ban
pasted he hasn't really succeeded with
it but we do chat with him all right
let's talk about directionality here so
I love what you guys are doing to me it
seems very wise to say okay if you guys
aren't going to change it then we're
just going to ride along uh but do you
think Trump is a sign that we're moving
in the right direction or the wrong
direction yeah Trump is a tricky one
because there's never been some someone
that is so big so popular you know he's
got his whole following with him and
there's also never been someone that has
been kind of so vocally and so open
about what he wants he's very black or
white he's I want tariffs I'm going to
push for tariffs I want crypto I'm going
to push for crypto before Trump even
started we created the JD Vance stock
portfolio and JD Vance because he was a
Senator uh we were able to kind of see
and his Holdings were roughly ETFs but
he also owned Bitcoin and he owned
Rumble and a couple other salt M stocks
so we've been tracking kind of the
Trump party you know for the past year
and a half um since JD Vance was um
announced as the VP Trump though again
does make it more complicated because of
the conflicts of interests and the clear
blatant you know benefits that he would
get if some of these things do get
passed an example is the Trump coin um
that probably shouldn't have happened I
don't think that that did him any good
not sure or that yeah let me that should
not have happened yeah that one I'm as
Pro crypto as you're going to get I
think people should be able to bet on
mem coins all day long but good Lord the
president launching a meme coin is
pretty horrific yep and I don't know if
this is just bad consultation I don't
know if there's people in his party or
people in his group that didn't see the
the downside of that especially like if
you come from the crypto Community you
would know like Brian Armstrong these
CEOs are they're calling it out they're
like probably shouldn't have been
allowed um that should not have happened
and that I think set the standard and
set the the landscape for bigger kind of
problems that could kind of come down
the path from that uh he has kind of
backed away from the chump coin a little
bit really he hasn't well actually
he he so the timeline was he released it
right before the inauguration and then
the thing went up to like 3540 billion
he didn't speak about anything until
probably a week to two weeks later when
uh a reporter asked him in the White
House in the Oval Office like what do
you think about the trumpcoin and they
were like what do you think about how
your net worth went up you know however
many 10 five billion and he kind of
brushed it off he's like oh I didn't I
don't really know too much about that
you know playing the classic kind of
keep your hands clean of it if you
studied the uh unit economics of how the
trumpcoin was launched these insiders do
have a lockup period and they have I
think it was 3 months 6 months 12 months
where
after Trump launched that coin he can't
just sell it the day after because of
this lockup
period where it gets interesting though
is uh a week ago he tweeted I love
trumpcoin or something like that and
then the the coin went up again a little
bit after that yeah exactly here we go
and on Twitter people started calling it
out saying like are we getting closer to
that lockup period is he trying to pump
the coin right before we'll have to see
cuz the the beauty of crypto is you can
track it all you know the wallets he's
got you can call it out right then and
there but again the problem with it that
I run in the Pelosi tracker kind of run
into is we are very bipartisan we call
out everybody like even earlier today we
were talking about Ashley Moody we
haven't even really necessarily got into
the the stuff that Pelosi is doing
because like we are very bipartisan
Trump being so open and blatant about
that coin has to be called out by the
Pelosi tracker and we're trying to do
our best to call out what is and what
isn't but with him it's hard because
there's just so much you don't want to
tweet about it every single day um that
we are trying to balance the the calling
it out but not getting too political
with him because he is the most
polarizing dude probably out there now
him and Elon um and that's kind of the
landscape the Avenue that we're working
on but the public doesn't like that he
did it either I couldn't really find too
many people supporting the president of
the United States launching a meme coin
um but he did the same thing with djt
you know what's give people information
djt is the uh Donald Trump spack you
know it's essentially like it's the
company that oversees truth social and
you know I think per their uh earnings
reports they have around2 or3 million in
Revenue but they're worth eight or n
billion yeah and I think that that's
crazy yeah the multiples are insane on
it but impact theory is bigger than I
know right yeah you could be uh yeah you
could probably go off and like buy um I
don't think we're going to value out at
9 billion exactly exactly but what
what's fascinating about the djt stuff
is
uh the and kind of follow my path here
I'd be curious to hear your thoughts on
it is like um the djt is a
representation of the support for Trump
he launched that everyone it's so public
that this this company truth social like
yes it might have promise you know it
could be doing stuff that's great could
not be doing stuff that's great but at
least like you know you have the unit
economics they're making $2
million the people are still buying it
though you know margorie Taylor green
the politician she bought Donald Trump's
stock and I see it as like a support
mechanism for the stock market where
when he was getting um investigated by
New York for the mara Lago things like
that support him or hate him you know he
used the Donald Trump uh the djt stock
as like a rallying cry to be like
they're trying to take all my money you
can support me with this um with this
asset the world's biggest uh gofund me
exactly and what is fascinating though
about that and this is why like maybe he
was in on the trumpcoin a little bit
more than I would necessarily think this
is where I put my tin foil hat on is the
djt stock is the same kind
of GoFundMe style thing for Wall Street
As Trump coin is for the crypto industry
there's not millions and millions of
people in the crypto World lining up to
buy and support djt stock so what do you
do you launch an asset in that world
trumpcoin and now you can kind of sell
your support to the crypto community and
the C crypto Community can come in and
invest alongside and support that
politician with the money with their own
money and let me be clear I I think
there's something to that where your
dollar should support the people that
you want you know we were chatting off
air a little bit about like the whole
Alibaba and uh what we talked about in
the Tucker Carlson podcast invest your
values invest your values yeah is there
anything necessarily wrong with Trump
being open and blatant about doing these
things yes with the do you think with
the stock yes the stock is a little bit
trickier though because of that Tru
social aspect of it where there's an
actually an underlying business to it
Jesus man I when h when he's not
president I love it yay hey we have this
uh former civil former civil servant who
we believe is being prosecuted and we
want to like do a GoFundMe where um we
can show support in a way for an actual
business Endeavor there is what I call a
cover story but I think you can paint
the same picture for the whole stock
market anyway uh there's a cover story
for why we want to do this uh which is
we believe in true social and we want to
see this thing do well but the you you
started this by saying look there's just
uh there's no trust because even if they
aren't doing insider trading the Optics
give it such a look of that's what's
happening the growing wealth divide
makes that untenable where you just
cannot be playing that game yeah so when
I think about I need to lay down in my
own life I need to lay down principles
so I don't want to look at uh Trump and
say oh this is how Trump should be
treated I don't want to look at Pelosi
and go this is how Pelosi should be
treated I want to step back and go this
is how politicians should be treated and
whatever that uh whatever effect that
ends up having across the board I
actually want to be blind to all the
potential things that could come in the
future Trump Biden doesn't matter yeah
literally doesn't matter this is the
policy I think about this a lot as a CEO
you put in policies you do not go this
person can go do this this person can go
do that you just go here's our policy
and then whatever comes of it comes of
it and if I don't like the way that it's
treating somebody I'm going to adjust
the policy and now it will create a an
equal playing field for everybody else
if I'm trying to solve that one-off
thing so either and this is something
that um I we'll we'll certainly get to
today is there are two choices before us
in terms of how we solve this problem
Choice number one is you just start
outlawing all this stuff and you say no
no no if you're going to be the
president hey sorry but you are going to
have to sell out of that company so Elon
Musk if you uh pass a constitutional
amendment and one day you want to run
for president you're going to have to
sell out of all your companies and
either don't run forid or sell those are
your choices or we say yo I would I want
the best and the brightest I want the
most successful people in the world to
want to be president this is amazing uh
therefore I'm going to do maximum
transparency and I'm going to say dear
Elon dear Trump dear Pelosi dear anybody
anybody uh this is going to be real time
when you make a trade in real time
that's broadcast and now anybody uh a
Chinese um foreign national uh an
American anybody that goes oh I bet you
know something that I don't now I'm
going to be able to trade with you
instantaneously and you
effectively through technology eradicate
the idea of Insider information because
the second you move everybody can make
that same Tey in transparency of real
time right I have not thought through
this well enough to know which of those
is going to be better but that to me
feels like the play and what I hear you
guys saying is we're doing the
transparency thing because we can't get
you to stop doing things that we view as
at least optically so grotesque that
something has to change and possibly
this is just outright corruption uh and
if that's the case then I say well okay
then that applies to Trump and you can't
no matter how much once you're president
no matter how much you want people to be
able to support you no matter how good
that was when we felt like you were
being persecuted and having the justice
system turned against you now that
you're president like you just can't
[ __ ] yeah yeah it's a good point
that's a good point in the contradiction
of uh cuz like maybe even like on the on
the policy side maybe there's an
argument to be made that that the
president is just the next level of like
that is a whole another world that is
like the the ruler of the Free World him
launching meme coins him even having to
your point the Donald Trump stock which
is him even having interest in true
social which is a public company
probably kind of can raise a ton of
conflicts of interest so I hear you on
the um the hypocrisy or the the
contradiction of it I guess the the
thing that I maybe I'm kind of
downplaying a little bit is my biggest
belief is you're right these politicians
should not be allowed to trade maybe
kind of Truth full transparency around
that kind of should come into play here
with Trump being the president that
again maybe that's a whole another world
is there an argument where just full
transparency into the whole thing and it
turns into kind of the wild wild west of
these politicians
if they're all going to do it let's get
rid of the guard rails for lack of a way
to describe it and make it all
transparent all open and let the public
decide on whatever they want to do right
now we're at this this I think this
problem and now that I'm thinking about
it it's good that you're bringing it up
because it's like on the one side you
got all the politicians playing this one
game where they are behind the veil of
the stock act they still can trade but
they have 45 STS to do it they're still
allowed to essentially kind of trade
whatever they want but they can hide
behind a lot of those rules and they
don't have to be so open and so
transparent about it on the other side
though you got the most powerful person
in the world blatantly doing it to a
point where he is so overly transparent
about it that you know exactly his
entire game plan you know how much money
he's making you know how much money his
net worth is going up and he's on the
whole other spectrum of transparency
with it it turns into just this whole
crapshoot of like which way is right cuz
he he shouldn't be allowed to do what
he's doing but his transparency in his
way he's doing it or his transparency in
the way that he is kind of outlying how
the whole things work is the way that
these people should be doing and if
they're going to do it anyway so do you
do you understand where it's like the
line of the president is in a whole
another world he is being probably
openly transparent about it meanwhile
the Congress they are not being
transparent about it and they are using
the stock act and stuff to be able to
kind of hide and do things that the
American public aren't able to see
that's I think like we we see that on
social media a lot and Trump I think to
your point it's so tricky when your
initial question was like is it right
should he be allowed to do it no but
he's being so overly obviously
transparent about it that it's so easy
to call him out for it to the point
where it's like do we even call him out
because he's telling the whole world
what he's doing you can't call him out
if he's telling everybody to begin with
you know I do I think it it comes down
to a fundamental question of what do we
believe is the purpose of the
presidency um I've never had to
articulate this out loud so forgive me
if a week from now I say this is
actually not what I think anymore but my
initial reaction is the sole purpose of
the president of the United States is to
make America better for the average
American just to put a simple way to
talk about it Y and I have a feeling
that given the truth of the statement
show me the incentives and I'll show you
the outcome the last thing in the world
you want the president to do is play a
short-term game and even if you did
something because as you were talking my
initial Instinct was oh this is create
the Sovereign wealth fund the president
whoever they are gets some piece of The
Sovereign wealth fund some tiny tiny
tiny piece uh of The Sovereign wealth
fund personally and it's like cool if
you make things better for all of us
then you get something and then I just
thought oh my God that will drive them
to think so short term yeah so then uh
my thinking was okay we'll make it play
out over the next 10 years and they get
10 years after they've left office
whatever the average return is over the
10-year period that they get some
ridiculously small percentage of that
and that's their payment uh and I can
just see too many distortions coming
even over a period of time like that
that you're probably better off going
back to the system that we had with
George Washington which was effectively
Alexander Hamilton going you're the only
person I trust not to be corrupt that I
can put in this position and I know
desperately wants to not be the
president and the only reason you're
doing it is for the good of the country
and so you'd be willing to make all of
these sacrifices um I think that that
just is the right PL now we're not in
that world right now and so my thing is
deal with the world the way that it is
not the way you wish it would be and so
we have a rats nness that we have to
untangle um but just to linger on the
point of a George Washington like
character for a
minute if we can create that kind of
ethos in the culture which I think the
culture is probably closer to right now
they are so infuriated by rule by the
few they are so convinced that the few
are either already rich and got rich
through corruption or if they weren't
Rich coming in they're getting rich via
corruption while they are in this as you
said club that we don't belong to
because that's where America is at right
now it's like you really have to find a
way to create a scenario where to your
point you're reintroducing trust in the
government and I think the only way you
get there is by somebody who is saying
listen um I'm just going to isue all of
this stuff for now which sounds like
what JD Vance did uh David Sachs did
where it's like these guys made choices
that were worse for them like I love the
idea that JD Vance holds ETFs so now
it's like well if the American economy
is winning he's winning in the exact
same way that anybody else would win
it's the same companies uh he doesn't
have any specific influence because it's
such a large group of companies um so
now it's just like yeah you're
incentivized to make America better one
simple proxy would be the performance I
mean GDP might be a better way to look
at it but you can't trade on that so the
thing that we can all trade on becomes
the S&P 500 again just to oversimplify
so something like that I like um and
feels like it probably just has to be
that and if you want to be president
then you're going to have to accept I
can't have my JDT I can't have a meme
coin and
um we somehow and this is way harder
than I'm going to make it sound we
somehow get everybody to re-embrace that
sense of I become the president as a
tremendous Act of sacrifice yeah not as
a I expect to get wealthy now I will
plant one seed which is I love that
these guys then make a ton of money on
the backside by writing their story or
whatever um if they're out of office and
at that point it's as an American person
like I want to know these things I
suppose it can still be manipulated a
bit in terms of um like the speaking
circuit where it's like hey once you
leave I'm GNA take care of you Netflix
we're here you know there there would
have to be guard rails around that but
um I don't like the idea of a president
dying broke you know what I mean like so
anyway there have to be some no I mean I
I think like um because when we think
about what are the different solutions
to it you know we can again this is why
I love what we're building with
autopilot it's like we are trying to
create a rally and cry saying hey
politicians you aren't doing anything so
we are going to build an app to
literally invest alongside you because
you are not doing anything and oh by the
way we now have half a billion following
you and we're crushing it we're making
millions maybe you guys should take this
kind of more seriously and like Stop
This and like that's our way to get more
and more people eyeballs more and more
people to see it and it's worked you
know we got a million followers on
Instagram a million followers on Twitter
the Pelosi tracker we're on shows like
this people wouldn't know about this
stuff unless I think like the app is a
great way to capture that emotion
because your money is actually involved
in it when we think about Solutions
though it's like we are trying to get
them banned from Trading and the ban is
much more complicated because of the
different nuances and uh I'll get into
that in a second with the with what
bills have been passed or what bills are
getting potentially down the line but
the three kind of main Solutions and
again po president's a whole another
world you are completely right
uh one get rid of the delay allow them
to trade individual stocks but open up
that transparent layer where it's like
look if you guys are going to trade
we'll let you trade this is just one
solution but get rid of the delay so now
if you're trading the whole American
public knows that you're trading and
they can copy you not copy you do what
they want but the American people at
least could be like we're making
progress on this they are at least being
open and more transparent about what
they're doing downside of that is you
still have the terrible Optics people
don't trust them they still could be
quote unquote inside of trading but at
least you have the ability to um uh see
what they're doing second option is this
blind trust idea where you take your
individual assets and you give it to a
third party fincial adviser quote
unquote a blind trust they could do
whatever they want you don't have any
access to them and to be fair some of
these politicians do have blind trust
set up where they are not trading but
it's the financial adviser making trades
for them the problem with that solution
in my opinion is I don't think