Kind: captions
Language: en
this just in an asteroid is hurdling
towards Earth and it's called AI
billionaire Chris Saka and the dinosaurs
tell us to brace for impact all while X
reminds us that Sam ultman himself
expects AI to end civilization and yet
we can't help but be excited
legitimately CNBC anchor Andrew sorin
says someone should meme coin him and
they do whoops be careful what you say
Sachs says America will be the capital
of crypto and Drew we got a hot one
today
tell us about it it's going to be rough
let's depress all our friends let's play
that clip I think other than most
computer science the highest level of
computer science almost all of the rest
of coding is [ __ ] useless you and I
can go to chat GPT and be like I want to
build an app that does this this and
this and give me the code and it spits
out the code and then I've literally
said hey by the way I haven't coded
since basic what do I do with this and
it's like oh no problem go here download
this open this python thing and then
shove it in here and then do this and it
just talks you through it and now it'll
be a agentic and an agent's going to do
all that for you you just don't need to
[ __ ] do it anymore would you send
your kid to law school right now no
definitely not we have fewer lawyers at
our firm now than we did a year ago it's
just [ __ ] great I can tell it hey you
know what great job do it again do it
again do it again hey you know what I
forgot to tell you we have all the
leverage oh in this case actually do
this hey add this hey write out the
exhibit a schedule of services which
usually takes a couple hours it's just
so [ __ ] good would you teach your kid
accounting accounts receivable accounts
payable bookkeeping right now now would
you have your kids write marketing copy
would you train them to write any news
other than writing for the very top
newspapers no probably not dude go down
the list of [ __ ] skills man so what's
left here's my grand Theory we are super
[ __ ] there it is there it is this is
uh okay look as I said in my tweet this
is the sounds that people make when they
can't see Over the
Horizon when you look back on however
many Millennia of Technology it has
always made things better it has always
as you get into modern times it's always
ended up creating more jobs but the
period of disruption is brutal yeah so I
don't want people to take it literally
that we are all super [ __ ] what they
are saying is I don't know what it's
going to look like and that is very
scary that's why I think 2025 is really
going to freak people out because you're
going to start to feel the job market
soften suddenly it doesn't take 3 to six
months to find a job it takes 12 months
maybe takes 18 months maybe you don't
find another job and that kind of thing
is going to get scary but there will be
a world on the other side of this that
world will be unfamiliar to all of us
but odds are that that world is going to
be better than this one for reasons that
I've talked about adnasium but I'll give
the very quick thumbnail
sketch uh you're bringing on people say
that it takes 18 years to make an
18-year- old that is no longer true uh
AI will be able to produce a an embodied
robot what uh you'll hear people say a
genck AI what they mean is that AI can
do something uh first it'll start
digitally but then they'll be embodied
in a robot and so you're going to be
able to make an army of 18y olds 25y
olds 30y olds whatever and they're going
to be smarter than all of us and you'll
be able to do it instantaneously and the
level of disruption that's going to
cause is insane but it's going to drive
energy cost to effectively zero that's
going to make everything effectively
free and all of a sudden you're in a
post capitalist world what everybody uh
on the left certainly is screaming that
they want to be but you don't have to do
it by taking away from everybody it will
just be an age of
abundance and the reason I think that's
going to happen is unless
AI has a need to have it their way uh
you don't have to get into this doomsday
scenario where AI wipes us off the face
of the earth that is very much us
projecting human behaviors onto AI where
we have to have things our way um but if
AI literally doesn't care whether what
it's trying to do is accomplished or not
if a human says please stop doing that
then it stops so uh you get to the point
now where you can leverage the
intelligence you can have something do
something for you uh and the thing that
I don't think people realize is things
are expensive because people are
expensive once you can get these things
done without the expense
um you're entering an age of abundance
there's something to that though that
when you remove the people expense
things get cheaper but doesn't that also
eliminate the people who can then afford
your product and that kind of are we
shooting ourselves so you're well what
you're doing is breaking off half of it
and saying that um well oh my God wait a
second everything is um cheap now I uh
have all these people that are making
this thing but then wait a second
nobody's going to buy my thing that's
why I say it's post capitalist you're
not going to need anybody to buy your
thing because you don't have to pay for
anything now and that's a long enough
timeline that's going to be a very rocky
road I am choosing to look over a
horizon that I can't actually see and
imagine a better world I get it I can't
see around that corner either what I'm
doing is saying I think Matt Ridley's
idea of the rational Optimist you cannot
Look Backwards at an unending string of
progress and then look forward and say
it's all going to [ __ ] up now it is very
understandable to be paranoid it is very
understandable to try to do things like
aign Ai and not just assume that this is
all going to work out miraculously
well um we won't accidentally end up in
a better future but I don't see a reason
why it has to be a negative future the
the thing that I think that we have to
worry about is meaning and purpose
that's the one thing that I'm like oof I
don't think people are good at um
putting meaning and purpose in their
life now in a world where that's far
easier than when we really really don't
matter we're not necessary for that
sense of progress that I think is scary
that I think people are going to have to
address uh there's going to be a great
need for some kind of new Spiritual
Awakening uh and so that's going to be
interesting but I I am going to be very
confusing to people because I am both
completely freaked out by what's
happening and choosing to not be
paralyzed by that um and to focus on
making sure that we end up in the
positive future
but it really is an asteroid hurdling
towards Earth there's no two ways about
it I'm kind of conflicted because I do
see all the positives and you know we
talked to a lot of the same guests the
people that are coming to into the show
so I see the the glass half full
perspective of it but I am really
thinking about you called it a period of
disruption that it's going to be it's no
longer glass half full glass half empty
it is glass thrown at a th miles an hour
at the wall that is shattering and water
is going everywhere
that's the reality of what's about to
happen for real um yeah and we are all
going to live through it and look I've
mapped out you and I have talked a lot
about this so 25 is the year that
people's Souls start to get eaten in
that they just they're they really see
now they can't see the future and that's
terrifying people are not going to
respond well to that uh there will be
for sure I guarantee it play this clip
back and if I look like a fool by 2028
let's say just to give myself some
padding so be it great because my
prediction is there will be pockets of
violence um how bad those pockets of
violence get I don't know I'm going to
clock it now at call it um 2020 so when
we went through that summer and it was
brutal and there were mostly peaceful uh
protest you're going to see that my hope
is that the violence is relegated to uh
violence against robots I think that's
going to be the initial push back as
those really begin to flood the market
uh you said something to me today that I
was like well maybe uh that it happens a
little bit sooner because as people
can't find that next job they are going
to freak out uh and so we'll see but I
think I think you've got 18 months
before people really start to go uh oh
wait a second this is this isn't bad in
theory this is bad in practice sheesh 18
months all right any Doomsday Preppers
in our community let me know uh I need a
bunker goes that that that fast but um
you have to learn how to operate off the
grid you've got if you've got a billion
robots that's that's gonna that's going
to hit that's gonna feel some kind of
way
sheesh that's and that's coming in the
next seven
years I'll Pat it and say 10 but you've
got a billion robots in 10 years for
sure humanoid robots yeah like walking
and doing all the things things yep uh
for you though that's the thing like all
of a sudden it sounds good I watch iroot
I don't think so I think it's should
sound a mix of terrifying and exciting
that's the right blend man it's
interesting it's interesting so we're
trying to get uh a panel put together of
sci-fi writers because I think that's
what we need right now is people that uh
sci-fi writers job is not to imagine the
cars to imagine the traffic jam I want
to sit down and have these conversations
about what is this really going to look
like yeah over this Horizon of course
everyone's going to be wrong but
directionally I think sci-fi writers are
going to help us think through this
problem it'll be interesting well coming
soon coming soon in the meantime I got
to get rich on the crypto Market because
mem coins are back um you said it in the
intro with the Andrew slin clip uh coin
being made and then iaka Trump got an
unauthorized coin made of her in that
launch and of course we all know the
Trump and uh the Trump and ianka coin
that went live on inauguration day I
feel like crypto had a busy week and
while on one side the Strategic Reserve
is now looking interesting to now this
side of like memes can you just lay out
the atmosphere for us because I feel
like with AI how we don't see how
disrupting this is to the job market and
to technology I feel like [ __ ] that was
having a similar moment in like the
finance
industry yes let's play um the David
saxs clip I think this one sets the
stage for what we're about to see here
Donald Trump said on July 27th that he
would would stop federal agencies from
targeting Tri the crypto industry he
made good on that promise today right
yeah absolutely I mean uh president uh
Trump campaign to be the first crypto
president he gave a a now famous speech
in Nashville where he described how he
was going to change the regulatory
environment for crypto and he has now
acted on that promise he signed this
executive order today he's directed our
working group to produce a regulatory
framework that's going to encourage
innovation in crypto in the United
States keeping the industry on Shore
rather than it offshore which is what
was happening under the Biden
Administration or I believe that what we
should be doing is extending the
Dollar's dominance into digital areas
extended online and I think that could
actually create trillions of dollars of
demand for us treasuries that could be
really uh useful to us and in uh in
basically supporting our debt and also
bringing down long-term interest rates I
want to get your take on the Trump coin
uh which started right before he took
office are you concerned about a
conflict of interest there I don't think
so I think the the Trump coins
collectible like I mentioned there's
different categories of digital assets
that's a collectible it's like a
baseball card or a stamp people buy it
uh because they want to commemorate
something um so this is just my personal
opinion I'm not a regulator but my
personal opinion is that it's totally
fine yeah this is uh there there is a
lot in that announcement now uh be very
clear as David Sach said he is not a
regulator it is not going to be up to
him this executive order is not putting
a bunch of things into law um so there's
going to need to
still be a lot of clarity that comes out
of this but when he talks about the lack
of regulatory Clarity to me that is
crazy the way that they were running
that by um there's a name for it I'm
forgetting it right now but basically
they do everything through um pursuing
people legally so rather than just
saying here are the rules of the road
abide by this they're like go ahead try
it see if we sue you it's crazy that's
that is so absurd uh it would be like
saying okay we have these new things
called cars and roads but we're not not
going to tell you whether you can drive
on them we're not going to tell you what
side we're not going to tell you what
stop sign we're not even going to put
stop signs or lights or anything just
figure it out but there are rules a
whole cops lined up with gun literally
so uh dude it it is the most abusive
system ever so giving people now Clarity
I think is uh really really important
and to his point it's going to bring
that Innovation back now I think the
thing that we want to be talking about
as online Denis is is uh is this good is
this bad is crypto good is crypto bad
you're getting a lot of um that argument
happening and so now having some uh in
the creation of the regulatory framework
and getting the people to Lobby Congress
and let people know what they want to
see out of this now this can become a
really fruitful debate so stepping back
up to the 30,000 foot View and saying
okay wait a second uh why does crypto
matter so uh this has been the drum that
I've been beating forever is that web3
um uh crypto is it's a technology and
when you understand it as a technology
and you understand um what that
technology opens up then things get
interesting I don't think that we're
going to survive AI without the
blockchain period full stop end of story
you will not know what's real so the
blockchain is a way to to um bring the
properties some of the properties of the
physical world into the digital world so
for instance is this AI or is this real
with the blockchain you're going to be
able to stamp that and you'll be able to
have things like on X where it just Auto
reads and says yes this is signed by the
account that says that they're putting
it out so let's say that I make a
statement and I stamp it with something
from the blockchain and I say this
really is a message brought to you by
Tom Bilu because hearing my voice and
seeing me say that this is a message by
Tom Bilu isn't going to make any sense
anymore because people will be able to
fake that yeah deep fakes and all that
right but they won't be able to fake my
cryptographic signature so now all these
things that we've sort of taken for
granted that you can believe what you
see we all know that that's not true
anymore and it's getting more and more
sophisticated by the minute so that's
one of the many things that the
blockchain can do as a game developer I
I am beyond uh enthralled with what it
can do when I think about trying to make
Ready Player One a reality where people
can create these incredible experiences
inside of a virtual world where you need
to be able to say who owns something
where that thing is in the virtual world
what it gives you access to all of those
things are only possible with um the
blockchain so the idea of the blockchain
bringing the laws of physics to the
virtual world some of them I want to be
very clear obviously not all of them but
it brings some of the laws of the
physical world into the virtual world
it's incredibly important as virtual
world becomes more and more meaningful
to us to be able to do that so when
people look at an FTX and they think
that is crypto and huge scam people lost
a ton of the money the reality is what
happened there was you had people
violating already established laws you
can't co-mingle funds like that that was
already a legal that isn't a crypto
thing that was just a way for um that
was the thing that a very um horrific
company leveraged to do horrible things
with people's money but again that was
already illegal so what you you don't
want to say because somebody did
something illegal with the saying that
we want to completely get rid of this
that to me would be the wrong way to
approach this
so what I think this Administration is
trying to do is to say I don't know all
of the things that are going to be
created but I do know that if we give
people rules that then we will be
surprised by The Innovation that comes
out of this so Innovation is all the
stuff we can't think of all the things
that we didn't know were going to be
possible but if you give people the
restrictions the rules within which to
play then that Innovation can Thrive and
by bringing it here to America we're
going to be able to reap the benefits of
this okay I think that's all incredibly
incredibly important uh now you get into
as you zoom farther in and you start
going okay wait a second okay Tom I buy
your argument that um cryptography is
allowing us to bring some of the
properties of the physical world into
the digital world okay I can see that
might lead to some interesting and
Innovative positive things I buy the
argument about AI is just going to be
runaway fakery everywhere won't know
what's real cool I get that but let's
talk about a really specific thing
that's been born of this something like
a meme coin okay David Sachs one of the
things that he signaling there is that
this Administration is going to take the
approach that those things are
Collectibles okay uh debate time whether
these uh are Collectibles or not I think
that that's really worthy of looking at
from a regulatory perspective as
somebody that um is the video game that
we're doing leverages nfts those are
those become filthy letters when strung
together um but the idea of the Skins
inside of our video game those are done
on um web 3 rails so that you own it
right so it's a thing that if you want
to go sell you can go sell um now
originally when I got into this I
thought that it would attract collectors
it doesn't it it attracts gamblers and
so that was really surprising to me so I
don't think that issue is going to be as
culturally clean as people think whether
people should be able to do it or not
I'll come down firmly on the side of
people should be able to do whatever
they want uh that's legal with their
money so I don't see why you need to
make gambling illegal if people want to
bet on football games I think they
should be able to if people want to bet
on Meme coins I think they should be
able to uh but somebody hit me in the
comments on YouTube the other day and
they oh god I forget what they compared
now um but it was like uh Bitcoins I
think it was Bitcoin and meme coins
Bitcoin and meme coins are the same
thing Tom and uh my response was that
doesn't make any sense to me that's like
saying that uh my mom and my wife are
the same thing because they're both
women I'm like hold the phone my
relationship with my mom and my
relationship with my wife are very
different and that context matters
unimaginably as people can imagine I
treat my wife and my mother
excruciatingly different and so how you
put a regulatory framework around that
is going to be somebody El to decide but
if you can't see that there's a
difference even though you can describe
my mom and my wife at a layer of
analysis or a level of analysis where
they will sound exactly the same but we
all know in reality when you step back
and look at that objectively it's like
nope it's very easy to draw lines around
these and say Behavior with one um is
wildly inappropriate for Behavior with
the other and I would say the same is
true for Bitcoin and mem coins even
though I get it at one level of analysis
you can make them sound identical yep
now to me this is not going to be a
universally held position but to me mem
coins are simply a method of gambling
and to say that a memec coin for
instance is an equity that it's like a
stock in a company that launching a coin
is the same as launching an IPO um my
reaction to that is absolutely not now
the reason that I say that goes back to
that context uh so there is a reason
that I think allowing people the the
stock market is
gambling okay but not all gambling is
the stock market so let me be clear the
stock market is gambling it's
nonsensical to look at the stock market
in any way shape or form other than to
say this is gambling it's like saying
that my mom is a woman yes this is true
my wife also a
woman but the reason that I say not all
women are my mother is because when you
look at there's what I call a cover
story with the stock market and the
cover story for the stock market and the
reason why I think it is extremely good
that people allow for gambling in the
stock market in a way that they get
weird when we start talking about a
football game uh even though I don't
think they should but when you look at
um gambling in the stock market you're
allowing companies to aggregate Capital
just from people that just want to
gamble but you're allowing those
companies to aggregate capital from the
gamblers and they say with this money
I'm going to build a company and you're
going to be able to see into that
company I'm going to have all kinds of
reporting requirements and all that
stuff so you can see them really really
doing the things with that Capital that
I said I was going to do um but you're
allowing them to aggregate that capital
and build the economic engine that gives
this country and many others the
prosperity that has pulled God knows how
many billions of people out of poverty
okay so uh capitalism has this
tremendous knock on effect of creating a
world of Plenty very unequal
distributions I understand that but it's
still the only thing that we've seen
that pull people out of poverty okay so
that's what happens when you're allowed
to gamble on the stock market by doing
an IPO now why aren't meme coins an IPO
meme coins are not an IPO because there
is none of that quote unquote cover
story there's none of the I'm going to
do this thing with this capital and
create a thing that is um building
something that the world considers
valuable such that the uh company itself
creates a self-sustaining economic
engine okay remember companies sell a
thing of value for more than it costs
them to make so they can continue to pay
their employees continue to make that
thing so even without the IPO this is
why private companies that are not
raising capital from the outside world
can also create a self-sustaining
economic engine and they can keep going
without allowing people to gamble on
their company okay that tells you that
there's a thing there with or without
the gambling that really works okay this
is why you've got these hey they're both
women but two wildly different things um
so meme coins are people betting on
culture okay again it's gambling people
want to gamble MH they want to bet on
culture uh launching it to me is not
launching INE Equity saxs is saying uh
he as the AI and cryptos are not a
regulator but he views them as
Collectibles I think it's wildly
different I wish that it attracted
collectors but that's me applying my
definition so you disagree with that
that a meme coin is a collectible uh I
probably just disagree on what a
collectible is to me a collectible is
something that has emotional value that
people want to own because it's a thing
that matters to them and maybe one day
down the line they'll sell it but that's
not really the juice the juice is I love
this thing and I collect this thing this
is an arbitrary definition that Tom
Billy was making up I am not asking the
world to adopt it but if you want to
understand the language that comes out
of my mouth about my feelings about what
meme coins are and what whether I like
them or not how I differentiate what
we're doing doing at impact Theory from
what other people are doing to me I am
only interested in the collecting side I
am not interested in the speculation
side I got smashed in the face by that
just did not see that one coming uh when
I originally got involved in web 3 cool
not a fan don't like that energy as a
builder it's just not my shtick yeah um
so meme coins though if you look at what
the phenomenon is at this moment in
history okay we all know basically for
me everything boils down to the way that
the financial system is built and that
uh you've got Fiat money people print
the life out of it that's stealing uh
they're stealing money from people uh
without reducing the number of dollars
that you have in your bank account the
the very fancy way uh of getting that
money which causes people to go wait a
second I can't save my way to retirement
uh so now I have to gamble we lovingly
call it investing um and that has
created this culture where you've got
primarily young people that feel
completely isolated from the American
dream where their future is going to be
better than today their kids future is
going to be better than today they don't
believe it they don't believe it because
of the things that would normally get
them on that wealth building path they
really aren't available and I'll
oversimplify it to real estate okay real
estate just doesn't really exist for
them in in terms of their ability to get
on that property l so now to beat
inflation they can't buy a house and
live in it uh so they have to gamble and
they are right now gambling on things
like Bitcoin they're gambling on things
like mem coins now again I think Bitcoin
is very different than a memec coin um
for contextual Reasons I'm not saying
again you can describe Bitcoin it will
sound exactly like a memec coin but I'm
saying contextually people are using
Bitcoin as a way to store wealth uh
anybody Peter shiff I love you but
anybody that tries to get you to believe
that gold isn't a meme mineral is a fool
uh gold is a meme mineral silver is a
meme mineral they are used for things
but that's not what predicates their
value and anybody that tries to get you
to believe that's just foolish it's just
not anchored to that and so it's a
terrible strategy meme coins a terrible
strategy from where I'm sitting uh to
actually generate the kind of wealth
that you're going to be able to retire
on one day because people just keep
betting and betting and betting and
betting uh and they're probably going to
lose way more than they win um but
that's the cultural moment that's what
we're living in and as you start parsing
these things out and stop staying at
that 30,000 foot view of just being like
but FTX like that that is crypto it's
like it's
technology it's technology hitting a
cultural moment there's all different
kinds of things and this is why give
regulatory Clarity and then see what
happens happens and some of this stuff
is just going to be gambling and it's
nothing more sophisticated some of it is
going to be a flight to safety like
Bitcoin only because of the context only
because the world has agreed and the
second the world stops agreeing on
bitcoin then it will turn into a mcoin
so all of these things have to be
isolated they have to be looked at
individually but when you start doing
that I think people will one be able to
better understand what this moment is
and what's happening two they will see
oh this is a techn technology and
Technology makes Innovation possible and
so we're going to innovate um and then
we'll get the regulatory framework that
we need to ice out the things that are
trash we'll get back to the show in a
moment but first I need to talk about
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now let's get back to the show nice at
the end of the clip there David saxs
brought up specifically like the Trump
coin do you think that there's a
difference him being the president
outside of like the collectible and all
that argument like we still have to
address the fact that like Trump did
launch a coin and in that context I
understand what a meme coin is but now
politically is it okay that our
president is now participating in the
gambling I hate it so it seems I really
like that some things aren't a law but
they're a custom and you violate that
custom at uh you violate that custom and
it is not a good look and it's going to
make people feel some kind of way so
until 1951 it was just a custom that you
could only be president for two terms
and it became that custom because George
Washington left after two terms and the
vibe on the street if you will at that
time was like he's never going to do it
he's not going to give up power he
remains incredibly popular and he
basically has this opportunity to become
king of America and he said I'm not
going to do it two terms enough tapping
out going home and everybody did the
same thing they voluntarily didn't run
for a third term and then we had FDR who
ran uh and was elected four times and
then when he died in office people like
yo we need to stop this being uh a like
thing that we do like out of the
kindness of our heart and we need to say
there's two [ __ ] term limits that's
it period end of story and let's
formalize it so I think that there is
this informal thing that says hey pretty
gross if a president is coming in and
they are enriching themselves off of
being the president and so we put all I
don't know how much was law and how much
was just like hey don't be a dick um but
we have guidelines around what a
president should and shouldn't do and
people would really scrutinize things
that they did like uh did people stay at
Trump's hotel if they did bad mojo go
after him um you know we just we we
frown on this aggressively again I I
don't know if that's a law or just
something that culturally were like this
is
terrible dude with a meme
coin I I won't read his mind I won't say
this is why he did it but I will say
that it would be very easy for anybody
to go hey Trump you own 80% of that coin
wouldn't it be nice if you could sell a
little bit when I drive the price up by
buying $50 million worth of stuff and so
now it's not a
bribe technically but that's pretty
gross I don't like that I don't like
that I don't like that it could be there
I don't like the way that looks uh I
don't love anything about that so that's
one of those where if we're going to say
that um people in Congress should not be
owning stocks I would say people in
Congress or uh presidents should not
have a meme coin it just it's too ripe
for abuse so yeah not not a big fan but
it does let you know that as far as meme
coins go I would say like yo if you're
going to [ __ ] with a mem coin that's the
one to play with because what makes a
mem coin and this is what um Andrew
sorin is finding out the hard way is
mcoin is is a bet on a moment in culture
and the problem is all of those moments
begin to dwindle and go away because
people just aren't paying attention but
people are going to pay attention to
Trump for the next four years for sure
and so there are going to be remember
volatility is what people
want people want volatility they want
the price to go up they want the price
to go down and back up but somebody like
Trump that coin is going to be all over
the place it's going to be swinging
wildly and so now it gives people
something to bet on it gives them a
reason to care about politics it gives
them the ability to invest in Trump as
politician because they can like bet on
all kinds of stuff because they're going
to be thinking oh he's going to pass
this law do this thing whatever like for
instance I have not looked at this
closely whatever um but I know at some
point down the road you want to talk
about the ice um raids and did it
backfire did it work did it backfire and
so people are going to be like oh
they're going to do this piece of
legislation they're going to try this
he's going to meet with this world
leader I'm gonna Bet On It And You Bet
On It by buying or selling Your Meme
coin that is that that just is now I
will let other people decide if that
should be legal but that is that is
what's going to happen and if you
understand that sense of enthusi that it
makes it more exciting uh you'll get why
people are going to do it nice nice it's
interesting that you bring up Trump's
third turn because a republican from
Tennessee Andrew ogles has just issued
a okay I'm not going to say it's and I
just want to make sure that you know
they're they're putting the legislation
out there it hasn't gotten voted on it
hasn't gotten passed it's not in
executive order so I want to clarify
that but this does look a little
interesting that he's also enriching
himself in in power and somebody is now
voluntarily teasing out maybe a a third
Trump turn would be a good thing this
this is also icky at least that's how I
feel about it hard pass yeah hard pass
for me
uh yeah I like me some two term limits
man because woo
uh the fact that our government turns
over is our strength not our weakness I
understand how it plays internationally
but there is a reason that at the end of
the fourth term of or not the end of his
term because he died but uh once the
presidency of FDR ended there's a reason
that people were like yeah yeah yeah
ratify the Constitution okay because
people didn't want to get stuck in that
where the longer you're in office the
more likely you are to get reelected
this is exactly what happens in Congress
and the Senate is people are just like
name recognition yeah sure like that I
don't I don't want to have to think
about it again yep yep yep got it got it
uh and you lose that vibrancy of the
turnover in
fact can we talk for a second okay for a
long time Drew yeah for a long time I
was like I want to live
forever it is the very thing that
motivates me the most and then at some
point I started going I actually think
now as I get older I'm more motivated by
the reality that unless something
changes I am going to die and it just
got me thinking about what is it about
death
from an evolutionary standpoint it's not
necessary like we could like there
there's a jellyfish that lives
forever now what it does is it basically
goes back to this blob likee state where
I assume what's happening is it's going
back to undifferentiated Pur potent
cells and then they redifferentiate and
rebuild this is why we can have children
and the child isn't old yeah so we have
within us the ability to start something
again from scratch so why don't we just
do it to ourselves and I think this is I
hate that this is true uh I think the
reason is that there's a quote from Max
plank that says science does not Advance
one Insight at a time it advances one
funeral at a time meaning you got to
clear the dead intellectual wood out to
make room for the new vibrant ideas and
that as we get older we um our thinking
becomes dogmatic and all the things that
made us you know brilliant When We Were
Young they start slowing things down as
we get old and look I would still like
to live forever and be very honest uh
I'm happy if you ship me off to Mars and
that's old people at you know whatever
160 are forced to leave notice I threw
that number pretty high uh because I
think renewal is a real thing so I think
that same thing applies to the political
Machinery if we want to stay vibrant we
you w to age people out not not in terms
of their actual literal age though that
too but that's a separate conversation
um you just don't want anybody to stay
around too long it it it stops vibrancy
it stops new ideas from making their way
forward I don't know if I can live
forever I feel like that's the the
beauty of life is that it's temporary so
if you can why do you think that in a
very weird way it's kind of the
abundance trap cuz when you have more of
something it has less value
as when you have a little bit of it then
you want to kind of hold on to it let me
ask you a question yeah and maybe the
answer will scare me have you ever woken
up and thought Noah I'd rather be
dead um yes okay maybe that answers the
question I haven't and because I haven't
I think well I want to keep going I
can't imagine a day where I'd ever be
like I don't ever want another shot at
this and because I believe that I know
that I will be sad when the ride comes
to an end and my enjoyment of this ride
even when I was young my enjoyment was
never predicated on it's going to end my
enjoyment was always predicated on I can
do this and I can do this and I can do
this and so I think that there are a lot
of people that have that algorithm of
like I'm only able to play this hard
because I know I'm not going to have to
play this hard forever yeah and I like
playing this hard because I like playing
this hard and I think that might be part
of what is confusing to people there's
it's also possible that having kids
would trip something in my brain that
would say oh it's better for you to die
off and to let them go because I don't
have kids maybe that um neurological uh
algorithm just never got tripped that's
possible um but I also think that people
just wire differently so I never look at
that and think oh yeah I want this ride
to end uh so but I mean wanting death
doesn't
I I think those are the two things
aren't the same I think that going back
to it like you appreciate because you
know that people aren't going to be
around you try to appreciate them more
but if you knew that everybody was going
to be around you would think like oh I
have more time I have more time we have
more time what I'm saying is in that
moment where I'm like I have more time I
have more time or money I have tons of
money um those aren't the things that
make me value or not value something so
the very thing that makes me value my
life is not that I know it will end
though I do find that now very
motivating uh but what makes me enjoy my
life isn't that it is that I love doing
the things that I'm doing in and of
themselves this is why I really really
really really advise people do not value
yourself for Success value yourself for
the sincere Pursuit so um I'm never
thinking about Finish Lines or
accomplishment I'm thinking about right
now yeah you you and I are doing
something that I find thoroughly
enjoyable right now and as we prepare
for these episodes always a little bit
hard it's always a little bit
frustrating we never feel like we have
enough time um but I still love it like
I love that the textures of it are
different that the preparation for the
episode feels very different than the
episode itself that that feels like the
practice and then the reward is that we
get to think through these things and
talk about these things and I find that
absolutely thrilling because I'm a in
the moment guy as much as I can look I
fall pre to the same traps everybody
else does but I really do enjoy that in
the moment while I'm doing it thing and
I've tried to construct my life around
that so um take even spending time with
my mom at Christmas I am hyper aware
that I only have so many Christmases
left with my
mom but that isn't the thing that makes
it fun in the moment the thing that
makes it fun in the moment is very
complex answer but um she makes me feel
some kind of way yeah and talking to her
makes me feel some kind of way uh and
that isn't predicated on I won't have
any more of this nice nice all right we
got two catchalls and then we can wrap
this up first we have this tweet that we
talked that we talked about earlier
globalism is civilizational suicide and
to me I I caught it ironic when you
showed it to me that Western nations are
feeding into globalism now with the AI
and Technology boom we're now kind of
even departing from Capital itself so
now we really can work without the
people next to us in our immediate
communities but that also can be our
downfall just I just wanted to kind of
give a perspective on like this
globalism versus individualism debate on
the country scale there is a really
powerful idea in business that
everything is about agregation and then
disaggregation so you look at um when
the streaming wars were happening it was
just a proliferation of all these
different services and now they're going
to consolidate and people going to buy
them up and you're going to have very
few and then somebody's going to realize
there's a business opportunity and
breaking them back apart and they will
break back apart and then they will come
back together and break apart and come
back together and that is one of the
drivers in the business cycle uh the
same is true at the international level
there will be times where everybody
prospers more from cooperation and
spreading things out and getting things
done the cheapest over here because
they're going to invest in that
technology letting China specialize in
manufacturing and America is going to
specialize in technology and we break
apart and then we realize oh wait a
second the Chinese economy is getting a
little bit too strong we're weakened by
the fact that we don't have any
manufacturing uh Middle America is
really starting to [ __ ] because we've
made their lives worse not better and so
now we're bringing it back we've got the
political will to do that and so we'll
come back together and then whatever 75
100 years from now we're going to break
back apart and we're going to go
globalist again um
so it's part of a cycle right so this is
the right meme now uh but it wasn't the
right meme in the 90s now people that
could predict that this is where this
was going to go were just saying yeah
we'll go through this really rad period
but then on the other side of this this
is going to suck but you got to pass
through a really rad period so it comes
down to uh what's the moment in time
that moment in time is based on how
people are feeling based on what's
actually happening in their lives and as
circumstances change then the vibe will
change the policies will change the
reality will change and it's just a
cycle over and over and over and over
now nice and we have one Community
question this is specifically to the
biggest pain point of this new level of
our future she's referencing AI at this
point what are the pain points of this
new chapter of for the average person
and what are the kpis to be focused on
when facing these challenges separate oh
sorry and then the second part will be
how do you address this topic with
others to wake them up from the
impending
shift well uh let's take the last part
first this show we talk about it on this
show and it's going to be a mixed bag
there's no two ways about it uh okay so
the biggest pain point is going to be
meaning and purpose meaning and purpose
is ultimately all that matters all the
money in the world is not going to help
you if you don't feel like you matter if
you don't feel like you're contributing
in a positive way if you don't have a
reason for your suffering uh read Victor
frankl's book man search for meaning
even in a concentration camp uh even in
the face of the death of everyone and
everything that you love dying and being
obliterated you can find a reason to
keep going uh the nian quote anyone with
a strong enough why can survive almost
anyhow uh
so meaning and purpose is the primary
algorithm that is placed in the human
mind uh and this is why you get things
as insane as the Crusades and you can
get people to leave their homes and go
fight uh on another continent uh to
steal all their gold basically in all
their land because you're doing it in
the name of God uh this is why people
will die for their families um it's
meaning and purpose I I will give
everything up to and including my life
because this thing matters to me that
much uh and if you don't have meaning
and purpose in your life it's game over
so AI is going to rob people of the
automatic meaning and purpose I think
family is going to become tremendously
important I think and this is coming
from a guy with no kids uh I think
family is going to be the solution and
people refocusing their energy and their
efforts on uh finding love getting
married having children raising them
well that's going to be the play and the
default play it's not the path that I'm
walking down but I am I am so hyper
aware of the need to constantly Find
meaning and purpose in my life um but I
think that will be the standard path
that people will walk I think there's
going to be a tremendous Spiritual
Awakening re-embrace whatever you want
to call it but there is a god-shaped
hole in all of us and that is going to
need to be filled uh and that's those
are the dangers in this moment and
that's ultimately how it's going to be
solved so what kpis can we interested
that if we want to Def find what our
meeting purposes in life okay so
spiritual things are very difficult to
turn into a kpi but the um generic thing
because I did not think of an answer
ahead of time the generic thing is just
going to be how do you feel do you have
a sense of I matter um are you doing
something that makes you feel expansive
or makes you contract are you able to
listen to a show like this where I with
laughter say that there's an asteroid
hurdling towards the Earth uh but I
really mean it can you look at that can
you stare in the face of that anxiety
and still go about your life and look at
the people that you love um somebody
said it might be worth putting up I
tweeted this out in fact I'm gonna end
us on this I'm just going to read this
tweet um and I hope that it answers this
question in full and then uh we'll be
leaving people with something very
wonderful and very positive uh I got a
private text message from a friend uh
who was in a pretty dark
place and they were looking for me to
give them that sort of Rah R um
motivational thing and instead I gave
them the following all of life is one
big Jedi mind trick if Pursuit isn't
bringing you Joy ease off of pursuit and
focus on what you already have if all
you have is a pot to piss in good you're
not dying of cancer and if you're dying
of cancer good it will make you Savor
this moment the only reason I enjoy my
life is precisely because I don't don't
value myself for succeeding I only
pursue things because I like the chase
if I wasn't having fun with the pursuit
I would stop chasing and never look back
I remind myself constantly that in my
back pocket is the option to choose monk
likee Detachment wanting is the disease
helping others is a cure read the Dao
ding it will change your life if you let
it none of us ever achieve our desired
level of greatness greatness itself is a
trap sit with your eyes closed and think
of those you love fill your heart with
that love if you love no one get a dog
pour yourself into those who need it
stop thinking you will love yourself
when you achieve you won't you will love
yourself when you decide that you are
already enough flawed as you are when
self-improvement stops being fun slow
down and love something want nothing
more than you have need nothing more
than a warm room a full belly and
something that smiles or wages its tail
when it sees you life really is that
simple oh and have cheap Hobbies love
you brother wish life was easier but
it's
not well said that's all I got there it
is all right everybody if you haven't
already be sure to subscribe and until
next time my friends be legendary take
care peace if you're a business owner
looking to scale I can help I assume
you're here because you know the world
is a freakishly complicated place but
with the right rubric for decisionmaking
you can navigate even the most complex
problems well after scaling my last
company to a billion dollar exit I knew
I had a winning formula something I call
the physics of progress it works in any
industry in any economic climate bull
market bare Market doesn't matter every
complex problem can be solved if you
know how to approach it from first
principles in the end that's how you
avoid getting trapped in plateaus think
about the biggest challenge facing your
business right now maybe your Revenue
drops every time you step away maybe
your industry is affected by tariffs or
your business partner is holding you
back maybe your marketing is no longer
working or you hate social media and
everyone tells you that's where you have
to be these problems can seem impossible
until you approach them from first
principles that's exactly what I teach
inside the billion dooll CEO program I'm
only working with a select group of
entrepreneurs right now but if you've
got a real business and are looking to
scale apply now visit impact theory.com
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scaling if you like this conversation
check out this episode to learn more all
right Trum spoke virtually at Davos at
the world economic Forum this week and
we have a clip of something that I think
we all need to pay attention to it'll
make the United States a manufacturing
superpower and the world capital of
artificial intelligence and crypto