Kind: captions
Language: en
we've got TDS on the left we've got shod
and Freud on the right we've got
economic Euphoria something absolutely
insane happening with Bitcoin people on
the left promising to hide undocumented
people in their attic and some pretty
rough stuff with people's negative
reaction to the Trump election and
joining me today is my producer Drew
Drew what you read on this moment man
where it's been a week it has been a
week people have been excited I have
seen too many clips of meltdowns I have
I've seen people cheering it's like have
the country think they won the Super
Bowl and I'm like hey guys he hasn't
been in office yet he hasn't done single
policy let's just take it take a step
back I get you're excited um but I was
one of those people walking the streets
when Obama was elected so I can't be a
hypocrite so how you feeling I am very
middle of the road I try to at all times
be sanguin so to your point I uh I'm
glad that he got elected I think that
there is a lot of work to be done I
think that it is going to be exceedingly
messy I think people are going to be
fighting against this the whole way uh
the thing that freaks me out right now
when I look at the reactions that people
are having is very much a tenor of I
want to prove the world that I was right
and whether you're on the left or the
right people just want to be right and
that drives me crazy you ought to and I
use that in the moral way you ought to
look for the thing that leads you
towards the desirable outcome and if
that is human flourishing for all of us
here in America and hopefully as many
people around the world as humanly
possible you should be looking for the
thing that actually leads you there by a
metric that you can actually judge and
right now what I see is people either
crying about the fact that they side
lost and you know again orange man bad
and they think that he's Hitler or it's
this big dunkfest of like ah you guys
are a bunch of morons you were leading
the country in the wrong direction and
it's like the reality that we could end
up in a civil war did not go away
because Trump got elected so I think
people have to be extremely
desirous of finding a way for us all to
reconnect and if that isn't the vibe
we're going to have a problem and right
now it's very much not the vibe all
right so Trump is now already started
he's assembled his team um telsey
Gabbert has is now the Director of
National Intelligence she will be
running all 18 of the spy agencies did
you know there was 18 spy agencies I did
not that's a l crazy um Elon and M are
now running up the department of
government efficiency Doge officially
has a department RFK still missing from
the headl but I seen your Tweet with
Elizabeth Warren you already have kind
of a take on the department of
government efficiency what do you think
of these appointments so far and how
Trump is assembling his government I
could not be more excited about Elon and
V working together now I obviously am
wildly biased towards entrepreneurs but
that's from somebody that's had to do it
and I'm not a natural-born entrepreneur
so I had to learn to do all these things
so I know what it takes to become good
at this thing and what you have to do
one of the things that an entrepreneur
has to get good at is capital allocation
you have to be efficient with your with
where you deploy money where you deploy
human resources and so I think you have
two of the greatest living entrepreneurs
right now Elon is the greatest
entrepreneur bar nun and when I see
people respond negatively to that that's
where I get crazy when you look at how
difficult what those two guys have done
individually you roll them up together
it it is absolutely absurd like anybody
you can dislike them that's fine but to
call into question what they've achieved
is crazy and if you take the lens of I
know what it takes to be that efficient
with humans that efficient with capital
to look at things from an engineering
perspective those are the people that
you want focused on the government and
so my response to that tweet was um
Elizabeth Warren had said oh government
efficiency this is crazy it's two people
doing the job of one person it's two
people doing the job of God knows how
many people it would take to go through
every line item and make a decision
about it it's it's literal lunacy to
look at that it in fact it's not lunacy
it is partisan hackery it is somebody
who wants to take control of the frame
of reference of what's Happening Here to
tell people okay I may not be able to
control what you're looking at but I
want to control what you see and what I
want you to see is that this is the job
of one person two people are doing it
it's already inefficient from the jump
so no matter what they do this is going
to be bad instead of saying look I think
we can all agree that no organization
literally none is operating at hunt at a
100% efficiency so can we get Incredible
Minds to look at this problem and make
suggestions it's not like Elon and V go
in there and just start making changes
that's not how this is going to work
they're going to make recommendations so
they're going to go in and make things
transparent which any Drew anyone that
wants things to be hidden behind
something that is somebody that's trying
to control The Narrative they are not
trying to make sure that everybody can
see what's happening in plain sight and
one of the first promises that they're
making is they're just going to make
this stuff transparent now look I think
elon's right it's going to be
devastating when you see some of the
wasteful spending but it's also going to
be kind of hilarious like when you see
like the way 9,000 for a screw the
10,000 for a desk it's it's going to be
crazy so my whole thing is what I want
people to be able to do is understand
when somebody makes a comment like that
this is two people doing the job of one
uh this is already inefficient
understand why they're doing that they
want their side to win they do not care
about a positive outcome if they did
they would be thinking it's not about
whether my side is the one that comes up
with the right answer it's about a kpi
what is the metric by which we are going
to J can you break down kpi because a
lot of people ask sorry I keep saying
that and I should also say by the way
for people who think that I'm talking
over my guest this is Drew the producer
who sets me up uh to talk about these
things I promis this this is um the the
format of the show uh and a kpi is a key
performance indicator so you need
something that says this thing is going
well and in a business you're trying to
pull the scales off of your own eyes
you're trying to find out are we
actually doing the things that are going
to make it possible for me to serve my
customer and serve my employees now this
is one of the things that really bothers
me about oh companies are evil I do not
know
entrepreneurs who have a first thought
other than I want to make sure that I
take care of my employees like you go to
bed like wanting to make sure that you
can take care of the families of all the
people that are working for you you feel
this tremendous sense of obligation and
you know that rule number one is you
have to protect the organism and that's
where sometimes you have to let people
go but even Elon is not going to be
gleeful about letting people go are
doing a good job and if people
understand that we need to want that
from the government we need to want the
government to serve the people we want
to take care of the people inside of the
government but at the same time we have
to think of the organism as a whole
right now and for the organism to
continue to thrive we have to recognize
that we are Thelma and Louise right now
our foot jammed down on the accelerator
and we are rushing towards a cliff and
so when you ask about what kpi should we
be paying atten attention to to me this
is very simple do you have a balanced
budget are you taking in more in tax
revenue than you are spending and are
you creating a pro business environment
because it is businesses that the
current economy worldwide is based on
and if you do not have those companies
for all of the um frustrations that one
can rightfully have with capitalism if
you don't have those companies then you
have nothing like the the all of the
things that we see from air conditioning
units to cars to satellites all of that
stuff the all the modern conveniences
that we have have all been born out of a
business and
so if people say I don't need my team to
win I need us to move towards this kpi I
care a lot more about the average
American feeling like their child's life
is going to be better than theirs like
if you just want to round it to
something it's that and I think that's
really what the vote for Trump this time
was that hey I think getting him in
office is going to be better for my kids
that their life will be better than mine
and if we can document that kpi like
turn that into a
number then we can steer towards it but
right now that isn't the goal the goal
is my team good your team bad and that's
a great metric to kind of put it because
I think a lot of times we get caught up
in political speak of the unemployment
is down groceries are This Grass prices
and we're kind of using these artificial
numbers on the timeline but we're not
actually thinking about the sentiment of
actual Americans every day dayto day in
the 990s I had one job I could buy a
house I could have three kids in 2020 I
have two jobs and I Uber on the weekends
and I'm still trying to figure out how
to get out of it and although
unemployment has had its lowest in
history and the in in the economy is the
highest the stock market has ever been
there are still Americans who are crying
in their cars on Tik Tok we see it every
day they're not feel like they're
getting ahead and that brings me to our
what ifal his tweet which I did I do
have to kind of give the disclaimer I
will look through the uh who numbers um
this is from what ifal his shout out to
him friend of the show apparently 3,000
people have taken their lives due to the
election 3,000 people have committed
suicides due to the election again that
number was fact checked and it was
brought down to in the 1500s and they
can't actually say it was directly
related to Trump but but but I will have
to shout out the 4B movement which is
the women that you see shaving their
head vowing absence saying they're
divorcing their husb husbands they're
making a a societal move because of the
results of this election and we even had
one guy do a murder suicide killed four
of his kids three of his kids and his
wife and he went on an anti-trump raid
the day before the election so it was
one of these things that people are
actually whether they're excited that
their new person is in or they're so
devastated that they're going to a point
of murder and suicide people are hurting
so what do you say to the people that
are in this imiddle emotional storm
where their team might have won and
they're excited and they're dunking on
people and they're making fun of other
people's misery or on the other side
where people are so sad they're
literally thinking about taking their
own lines I have seen you literally talk
somebody off a ledge Midstream so how do
you talk to those people who are really
struggling in this
moment uh woo okay so big question so
first if I'm trying to talk somebody
away from a move like that I'm
immediately going to go to you're having
a biological experience the reason that
I want to ground them in that is we all
live inside the Matrix The Matrix is our
own brain so even if this really is real
world and it's not Matrix code the
analogy of the Matrix is perfect for the
reality of your brain so your brain
you're only able to perceive
0.035% of the electromagnetic spectrum
which means your brain is filling in a
lot of gaps it's making you believe that
you see the whole picture but you really
don't there's a dim size hole in your
field division all that so I get
somebody to understand your brain is
tricking you now most of the time it's
tricking you for your benefit but right
now your brain is tricking you to the
negative and it's making you believe
that you will never be happy again and
if you truly were never going to be
happy again I understand why somebody
would take their own life nobody wants
to live in that misery so you have to
get them to anchor on that first and I
want people to understand that when
you're in that state you you are quite
literally mentally unwell and just as if
you had a knee problem you would go get
the knee problem fixed at a biological
level you want to get that under control
from a biological standpoint now
hopefully there are interventions that
you can do that stop shy of drugs but
hey if that's where we got to go to
rebalance to get equilibrium then let's
go there um so that that's legitimately
where I start now for somebody that's
really deeply distressed about this just
keep in mind that more or less no matter
who gets into office you still control
your destiny I think there's a reason to
be thoughtful about who you put in
office I cared very much about who won
this election but I also know not to
trust myself in that I have a worldview
I'm going to stand up for what I believe
I'm going to say what I believe but if
somebody said hey Tom here's a magic
wand and if you wave this magic wand
everyone will do what you tell them to
do I would say that would be the worst
thing I can imagine for ensuring that
human civilization thrives moving
forward because the reality is
everybody's blind to something and the
very thing I want is friction between
ideas so hey person that is struggling
just know that the friction between the
ideas is actually where the magic
happens you want a dynamic tension
between both sides and if you can
understand you still control your
destiny it's probably good that we have
this friction the other side one right
now you do want to ask yourself why is
there something that you're missing what
is it that they see steel Manning the
other side making a case for them I
think is really compelling to better
understand your own position about why
you think what you think okay when you
do that now you're going to get a really
clear sense of what you believe because
you really understand the other side
okay I really believe this thing well
what predictions does your hypothesis
make and can we measure it so now it's
like you don't have to worry about
railing against the other team you can
start focusing on policies and outcomes
policies and outcomes okay so what's the
policy what's the outcome that they're
predicting from this and did that policy
yield that outcome yes or no if yes does
it and it's a positive thing it's the
thing you wanted do you care that it
didn't come from your side and if you
care that it didn't come from your side
now you've got your finger on that's
that's a you problem because now you're
saying I actually don't care about the
outcome I care about it being my team
that came up with this idea now dude
most people live there so this really is
where most people are stuck they just
need it to be their idea they just need
it to be their team because they are
driven by invisible goals
invisible uh markers of self-esteem that
they've never even pulled into their
conscious mind and so they're going to
steer by uh did people do my idea did
they validate me did my team win am I
validated because I was on the right
team okay that's where a lot of people
are stuck but going back to you can't
control the outcome of an election you
can cast your vote but what you can
control is how you respond to it you can
control what you do uh I built a billion
dollar company in the Great
Recession now of course every everybody
told us that we were crazy we were
leaving software which was like that's
how you get rich we were leaving
software to go into manufacturing which
people were like you're out of your mind
but we had an outcome in mind we wanted
to end metabolic disease that felt worth
pursuing even if we failed right you
know my question if I've never said it
to the audience before uh the right
question to ask yourself in a turbulent
Moment Like This is what would I do and
love every day even if I were failing go
pursue that thing right so no matter
who's president you're going to be able
to pursue that thing that you really
believe in uh and so if you can get
people to orient around the things they
control that they can contribute to
other people make other people's lives
better that they can actually measure
kpis and go this is the thing that I
care about are we actually moving
towards that and if we're not cool then
you talk about that and you say these
policies are not moving us towards human
flourishing or whatever their thing is
um and it becomes a a call and response
game this is what won this is where it's
taking us this is what I want this is
how I think we get there and you can
argue over those things and it be it
becomes the friction that I was saying
we should want where it's like this is
where they're going but this is what I
think they should be doing if you can
Orient people around that package
they're going to be they're going to
feel positive because they'll feel like
they've got enough that they can control
that they can keep moving forward
they've got a metric by which they can
judge success and it doesn't matter what
team they're on because we all just want
to get to the same place I love that it
reminds me of a saying that one of my
old managers gave me that e plus R
equals o you can't control the e which
is the event you can't control the O
which is the outcome but you can control
the r which is your response so you
should always kind of ground your
response no matter what events or
outcomes happens which bring me to a
tangent I have seen a lot of discourse
about people saying they're cutting off
family members they're not going home
for the holidays because of this
election please please please I'll say
these in all three cameras Donald Trump
kamla whatever side you on I promise you
if you are out on the street they won't
take you in but your family may so
please don't cut off your family because
you think somebody that lives 3,000 Mi
away that lives in Big White House is
your is your is on your side um that's
just my other tangent um we have this
Piers Morgan clip which shows how some
people are reacting to Trump and how
some people are deciding to fight back
could we uh cue that YouTube one up I've
got news for our friends at the BW
podcast that strategy will not include
indulging this bizarre and Frank fantasy
mobilize the resistance and I think it
will be the resistance I'm prepared to
uh to put um undoc dou umented um people
uh in my attic I I I call BS on that I'm
sorry as a son of immigrants and I have
some illegal cousins that are roaming
this country right now I don't even want
them in my attic let alone a stranger
from Pierce Morgan is going to happily
open their doors to them I call BS in
virtal signaling how do you feel about
this okay so one I really tried to find
that clip that he's pulling that from
because I want to see the full context
so uh just because it drives me crazy
when people pull stuff out of context
reacting to the part that I can see it
is absurd in not that he would take them
in because from his world view like if
you really believe Trump is Hitler that
this is that moment that you're you told
yourself Drew I would be the one that
took Anne Frank in he's like hey I've
got a chance to prove it and maybe he
really will the way that it would play
out though is all of a sudden he'd
realize oh there's no SS at my door uh I
don't need to hide this person there is
a process that people go through they
came into the country illegally uh the
Donald Trump's ice is going through this
procedure this policy and you can debate
that policy you can push back on that
but putting people in your house is one
not going to solve the problem and two I
think people are very quickly going to
realize that this is um the worldview
that they have concocted that this is a
moment that has to be resisted massively
um it isn't accurate that there's no
point at which the rubber meets the road
on this now the interesting thing
is it is possible that the world he
wants to live in is one where there are
no borders whatsoever that people can
flood into the country as they should
that we have a moral obligation to
welcome those people in um
um in which case he really is right and
so with that I'm just I become baffled
because I think people have to build
their worldview one they have to
understand that their worldview is
constructed that it's based on a set of
beliefs and values and so those beliefs
and values make predictions and you can
run his predictions so he has a
prediction for for that to make sense he
must believe the following you have a
moral obligation to welcome anybody in
from wherever for whatever reason and
just let them into the country
and history will show you that if people
don't assimilate the culture collapses
and at the risk of being a cliche and
talking about the fall of the Roman
Empire you you don't have to look very
far to realize that what keeps a country
going is not the letter of the law it's
the fact that people believe in the
letter of the law and so to look at what
America has accomplished to become the
most prosperous to become the most equal
Nation on planet Earth and to think oh
the the culture that gave birth to this
is so rotten that we should let it be
absolutely obliterated to me just
doesn't make any sense it's like Matt
Ridley wrote a book called um the
rational optimist he said you cannot
Look Backwards at whatever 50,000 years
of forward progress and go tomorrow is
going to be worse and that was always a
very anchoring idea for me that you
can't look at the history of this nation
W which went from slavery to
having a black president and go oh
there's something so corrupt about this
culture that it it doesn't lead anywhere
good right we started in a hor horrific
Place genocide to get the country
followed by slavery but yet there was
ideals that were put in place that led
us now to the point that we're at and to
look at all of that and go oh this is
going to end somewhere bad I think
doesn't make any sense now if we had
four years of Donald Trump literally
being Hitler then okay but you don't you
have him governing as a moderate
moderate what does that mean governing
as a moderate because I think a lot of
people they see Trump with those Hitler
headlines they watch the same Outlets
that call Trump Hitler that compares all
his policies to hitleresque I'm thinking
of the Muslim band I'm thinking of the
eight countries that were on that list
that they didn't want people in and they
do see to your point a through line of
he's Hitler light so what do you mean
that he governs as a moderate okay so
first I think we have to Define what
Hitler actually did the things that
Hitler did were so insane so first of
all he had what were known as the brown
shirts and they went around and
literally beat people up and stop people
from organizing and opposing their thing
so actual just literal thugs roaming the
streets uh they did Crystal knocked uh
which was go around and basically um
smash every Jewish owned thing that you
can imagine uh they burned down I forget
the name of the building that they
burned down but but they tried to blame
it on uh the in fact I think it was
burning that building down and this is
where I'm going to need what if Al his
to uh uh fact check me here but they
burn a building down blame it on the
opposition and I think that's what
triggered Crystal KN was they used that
as the excuse to go in and smash
everything because they're like look
what they did I mean it and then
obviously putting the Jews and ghettos
and the Gypsies and then Exterminating
them I mean it's just come on Donald
Trump compared to that I think we can
agree is extremely moderate extremely
moderate so saying that we're going to
restrict the people coming into the
country that we're going to put bans
from different countries coming in uh
you may not like it but compared to
taking your own citizens stripping them
of everything robbing them of all their
belongings um blaming them for the woses
of your country which had nothing to do
with them whatsoever and had everything
to do with losing World War I uh
so when you start getting into the
nitty-gritty of what Hitler did and you
start watering that down by comparing it
to somebody who went through the
Democratic process and look everybody's
going to zoom in on January 6th happy to
have that conversation but to to keep
scope from getting
crazy use a democratic process would
talk very bombastically but was not
passing insane laws uh when you look
even at the border when Trump exited and
Biden came in they made changes that
were I would say far more radical than
Trump wanting to build a wall like
wanting to stop people from coming in
feels way less radical to me than just
letting anybody and everybody flood in
um and so if people want to point out
the policies that he did that they think
are truly hitlerian not rhetoric actual
policies that he put in place that are
truly hitlerian I'm happy to go one by
one um
but yeah he was fiscally on par with
everybody else terrible in money
printing nothing crazy some tax breaks
nothing crazy um again no demonizing in
the law of any group inside the country
so it's just when you start to do a one
for one comparison with what Hitler did
like it it is orders of magnitude
different and that's where like my
ability to track what people are even
thinking when they say that stuff the
only they could make where I wouldn't
think what the hell is it's a slippery
slope this is the first step on a very
long road but it's the first step that
you could sort of debate but that he
actually did things that are even
remotely hit laring is
insane copy that swinging the pendulum
to the other side I know my crypto Bros
are happy shouted you guys out on the
last episode and Bitcoin has only went
up the S&P hit a new high at 6,000 what
the hell is going on with the markets
huh
okay so we are having a euphoric moment
where the markets were pricing in for a
while that they thought Trump was going
to come into office on crypto I think
it's they know that he's going to bring
in a very Pro crypto um regulatory body
we've seen in the Senate the most Pro
crypto Senate we've had argu not
arguably forever it it is the most Pro
crypto uh so seeing that on the crypto
side people are like okay all the
regulatory uncertainty that we had is
gone we're pricing in some of our
optimism about where we think this is
going to go how many more people are
going to start flooding in now that you
can't point to the boogeyman Spectre of
well the government is going to clamp
down on this but also if I'm completely
honest I think they're expecting Donald
Trump this is again specifically uh
Bitcoin and it has implications in the
stock market but we'll get to that in a
second I think they know he's going to
print money and when you're printing
money Bitcoin becomes the safe haven if
they really believed that Trump was
going to get the budget balanced and was
going to do no money printing I don't
think you would see this crazy run on
bitcoin I think it would go up still
because people feel better about uh I
think there is a certain type of person
myself included who would rather be in
Bitcoin than gold but it's effectively
the same thing uh and so you would see
it go up but not to the rate that you're
seeing right now I think that's a
combination of cool we're going to have
a great regulatory environment for
crypto and he's going to keep doing
foolish things economically and so this
is going to be wonderful and so you get
that perfect storm I think on the stock
market side you have a slightly
different thing happening which is hey
he's going to start removing a lot of
these regulations so you have the um
guls travel thing of you're a giant the
giant US economy but all these
regulatory bodies are making it harder
and harder to do business we were moving
in the wrong direction you had KLA
Harris promising all of this uh money
that they were going to give out to
everybody which is inherently
inflationary and uh more regulatory
bodies talking about top down pricing
controls I mean legitimately for
entrepreneurs I don't think people
understood how apocalyptic her talk was
of course we understood a lot of it
wasn't going to be able to go through
but it showed you what the impulse was
that she had it was just like every
impulse she had was wrong uh so people
are really excited about that um but
also on the economic on the um stock
market side you've got a couple things
going on you've got the same thing going
on in the Bitcoin side it's going to
print money like crazy and so people are
going to flood into the market uh
because they have to protect themselves
from inflation but you also have if
we're in uh a position where he's
cutting back on regulation he's cutting
back on taxes businesses are really
going to start to invest and if
businesses start investing and he's
doing tariffs and he's bringing jobs
back now we've got a real strength in
the US Stock Market so I think some of
what you see there this is obviously
multifactorial but some of what you see
there is people that were like hey I'm
sort of hedging against where I think
the US economy might be going and I'm
going out into places like China China's
now having a ton of trouble he's doing a
lot of signaling that he's going to make
the dollar stronger that he's going to
make um the he's going to take a lot of
the regulatory burden off and that they
believe he's still going to be money
printing it's like every signal that you
could have on the positive and the
negative side says get into the stock
market get into uh Bitcoin specifically
more than crypto uh in general and so
you're just seeing that any Pro business
sentiment is just a spark for people to
say okay let's let's invest what do you
think about the proposal I think M
Michael sailor threw this out about a
Bitcoin strategic reserve the US
government kind of oding like a block of
Bitcoin just like I would love to see
them have u a currency that is backed by
gold I would love to see them either go
all the way to backing the currency with
gold I if I'm really honest I'd rather
see him back it with gold I think even
though I've got way more of my own
personal money tied up in that the
government should be focused on things
that are a little more tried andrue if
you're going to tie the um the dollar to
it but having the us at a minimum not
sell the crypto that they've confiscated
I think would be a brilliant idea
because if it really does continue to go
up there are people that I mean there
are crazy predictions out there but even
if it just doubled from now hey that's a
great windfall but if it really does go
up to the million 2.3 2.5 million that
you see a lot of credible voices claim
uh I mean that Jesus man that would be
such a win for any government that's
holding Bitcoin uh but I want to be very
clear right now Bitcoin is extremely
volatile and I think if the US
government were to spend a ton of money
putting it on the balance sheet there
would be so much backlash from the
taxpaying public I think it'd be pretty
nightmarish so I don't know that I would
advise Trump to do that at this point um
but not selling what they already have I
think would be very shrewd we shall see
we shall see I'm curious to see what the
markets actually do what actually
happens we have this clip from the
all-in podcast that kind of talked about
what we see how fredberg and Sach see
the future of the economy going could we
play that and by the way as these
numbers climb the cost to borrow for the
federal government climbs so the new
bonds we have to reissue a good percent
I think nearly $10 trillion I think of
our debt has to be reissued in the next
year that's going to get reissued now at
the higher rate and that higher rate
means that the annual expense just to
pay the interest on the existing debt is
now climbing at a faster rate and that
means you've got to issue more debt to
pay for your interest on your current
debt it's quite paradoxical that the FED
sets that rate right well this this
becomes the compounding problem when
your G your debt to GDP reaches a
certain level and you don't reduce
federal spending fast enough it becomes
a compounding problem you cannot get
away from and this has been the
beginning of the cataclysmic economic
collapse of every great Empire in the
last 500 years I know I've said this you
guys can joke about it all day long but
this is how it starts is it starts at a
point where you're arithmetically not
able to get out of your death spiral
okay so this is the thing that scares me
to death the fact that even the guys in
the all-in podcast make fun of David
freeberg for saying this I I want to be
very clear about what he just said over
the last 500 years every single Reserve
currency every Empire has fallen in the
same way they all take on too much debt
and they get to the point where they can
no longer make the interest payments on
the debt and they lose their status as a
reserve currency it happens over and
over and over in an incredibly
hilariously predictable fashion and
because it happens so slowly people will
make fun of the people that that say it
over and over and over that this is
where we're headed and it is truly a
game of musical chairs and for anybody
out there that never played musical
chairs it goes like this you have one
fewer chair than you have person and
when the Music Stops everyone's just
walking in a circle around the chairs
When the Music Stops you have to get the
chair knowing one person's going to get
iced out now I want you to imagine there
are no chairs and you're walking in a
circle and when the Music Stops you all
fall down see you're even
laughing now it's like and am I saying
it some aat tongue and cheek kind of but
the reality is everyone falls down and
oh my God and it's like boys and girls
if you're laughing because you don't
think it will happen in your lifetime
guess what face it's going to
happen to your kids now I don't even
have kids and I'm worried about other
people's kids you you don't escape it
the only thing you can do is get
fiscally responsible and what are people
doing instead They're laughing at people
who keep pointing out you can't keep
doing this because you can keep doing it
for a while and because you can do it
for a while everybody's like I don't
give a it's going to happen to
somebody else that is so cynical man and
then the second worst answer it's better
than that one the second worst answer is
go by crypto guess what your average
person is terrified to go buy crypto and
for good reason it's not easy and for
anybody that tells you that it is is a
liar and so I'm just like good Lord I
don't understand how people can be that
jaded that because they see a way out
they're just fine that everybody else is
going to get nuked stop overspending
stop overspending you have to stop
overspending you have to stop stealing
people's money through inflation you
have to stop overspending you have to
if how much do people freak out over
health care for everybody they freak out
okay now I want you to imagine something
far worse which is you're going to let
people people lose all the money that
they've saved in fact you've already
trained them not to save any money it
it's Madness and so you get into this
death Loop where people are not going to
be able to retire because they have no
money you've got people working three
jobs you've got get guess what stat
guess what stat brings down the life
expectancy of this great nation of ours
qdp deaths of despair of
men dude because we are disenfranchising
people as fast as we can by putting them
in a situation where you can no longer
just be a plumber and make a decent
living and make things work because
inflation is happening so fast that you
have to gamble to keep up with it and
the fact that look I love all my Bitcoin
Bros I love you guys but that is a
shitty answer to tell people just get in
Bitcoin dude my mom is not going to
buy Bitcoin so and yes I will
take care of my mother obviously but how
many people out there there have moms no
one's looking after them it's bananas
dude the reason that this happens is
because it is so
complicated that everybody just thinks
well it's not going to happen right now
and because it's not going to happen
right now I'm GNA make fun of the guy
that won't stop saying that it's going
to happen eventually dude that's so
gnarly that view on life is so dark and
Sinister I can't be a part of it is
there anything that that average guy can
do cuz to your point going into the
stock market gambling during my life
savings in the crypto risky um I'm
looking at Great Britain they lost their
status but I feel like they're doing
good now is there a way we can kind of
hide from this blowback or do you think
everybody's getting it it's going to be
like Greece I think is the last big one
like you're just going to get screwed
and we're just going to have to deal
with a a period of Hard
Times history says people will not
change until there is enough suffering
for them to be so profoundly unhappy
that they'll do anything including
except that they're financially
obliterated because they they want the
killing to stop and that's this always
ends in not
always the majority of the time it ends
in Bloodshed so catastrophically that
people just say yeah fine whatever uh
people owe me money uh I I don't care
anymore zero me out I'll start over it's
fine I'm just too fatigued or just so
many young men die that they're just
like well there's nobody left to
complain about it that that's literally
how this plays out over and over and
over and over uh it need not it need not
that's the thing that drives me crazy
but we are up against the architecture
of the human mind and the architecture
of the human mind is uh these are very
complicated
problems it's easy to push it off into
the future not deal with it today and
we will only elect politicians that we
think will make our lives better right
now in this moment um but I think in
many ways the vote for Trump was a vote
for somebody they think will do
something about it now I don't have any
faith that Trump won't print a mega
ton of money so I think he's going to do
a lot on the there there are two ways to
balance your budget make more money
spend less he's not going to do I think
enough on the spend he'll in terms of
government efficiency I think he's going
to do a lot but that it's it's
government entitlements that's what's
us up it's it's healthare it's
not getting people to eat right like all
that oh God won't derail on that uh
that's way number one spend less money I
don't think he's going to be great
there make more money I think he's gonna
be great and I think that's where people
voted and they said hey when you were in
office last time things got a little
better for me so I'm hoping if I put you
back in office Things Are get a lot
better and that's the the jubilant
moment that we're in right now is people
are forgetting that hockey stick that is
the debt and they're just thinking ah
he's GNA at least help us make more
money and he's going to help us secure
the border and he's going to make us a
badass on the world stage again which is
something we've never talked about but
probably should
so I'm
conflicted I voted for him because I
think he's going to make us more
prosperous in terms of we will make more
money we will be more
Innovative I think he's going to be
trash on spending money because I think
people will vote out the Republican
party if he cuts back on entitlements
which is the thing that's killing
us damned if you do damned if you don't
I did not vote for Trump but I'm hoping
he does something good because I'm stuck
with him for the next four years brother
at least Praise Jesus that that's your
take is like look if the roles were
reversed and KLA Harris W or third party
candidate I don't know who you voted for
uh but first of all I love and respect
you regardless of who you voted for yay
as it should be uh and if your team had
won I'd be like yeah word like how do we
help how do we help how do we either
give them a view on something they might
not have otherwise had and hope that
they make good on that they do something
positive uh or hey fingers crossed maybe
I was just wrong and they're going to
lead us somewhere awesome
no that isn't a universally held view uh
but it's the only one that makes any
sense to me well one thing we do have a
common we accepted the results of the
election I can't say the same for some
ticktockers and ex users there is now a
hypothesis that starlink was used to
hack different voting machines I just
think that it's amazing that four years
ago we all decided that we should accept
the results of the election and now in
this present moment when one side didn't
win and now now the same people are
using the same rhetoric
to say the same thing the voting
machines were hacked and now we didn't
get our way and in 2020 it was the
Dominion voting machines and in 2024 it
starlink was used to hack the Dominion
voting machines um I don't know if
you've seen some of these stories but
it's kind of crazy what's your take on
it uh my take is humans going to human
so this was the most predictable
reaction ever I think everybody knows
Trump would have thrown a fit if he
hadn't won true and I also think we can
all agree that if Trump had lost he
would have thrown a way bigger fit than
the left is throwing now and so credit
where credit is due uh despite the fact
that you're going to see that despite
the fact that it may gain traction and
people really might start rashing things
up um as far as I can tell KLA Harris is
is going to do a peaceful transfer of
power that um that we would envy from
2020 because that was a show um
but yeah people are just like that they
they legitimately are so trapped inside
of their own worldview that they cannot
fathom that the world just views things
differently than they do so uh this we
have this thing called dots inside of
our company where we can all give each
other dots now I'll be the first to
admit that we don't give each other
enough critical dots but setting that
aside for a second um the idea behind a
critical dot is that
oh I didn't realize people felt that way
about me whoa that's weird now if one
person says that let's say that I have a
positive view of myself on something uh
and somebody says you're bad at that
initially I'm GNA be like a that's weird
I'm really good at that so the fact that
they think I'm bad that's weird the
second time it comes in I'm like huh
that's interesting the third time it
comes in I'm like this is officially a
pattern and so now it is entirely
possible that I have the wrong view of
myself now the reason I'm so hungry to
update my view of myself is whatever is
true is true if I really am bad at that
thing then now I've got an opportunity
to improve that I did not have
previously because you cannot fill a cup
that is already full so if I believe I'm
good at this thing I'm not going to
listen to you when you try to give me
advice I'm like I'm already good at that
but if I'm open to O maybe I'm either
not as good as I could be or maybe I'm
just full stop not good and now that I
know that now I can seek instruction now
I can practice now I can get better but
people's ego is built around being right
and that's what you're witnessing now
and this is my own take on the dumb
voter problem I really do think that
there are some people that are too dumb
to navigate the world well uh but the
problem is I don't know that I'm not one
of them and so because I'm like and by
the way it's going to be issue by issue
like there are plenty of people that are
brilliant in one area and absolutely
radically stupid in another area and so
it's like okay well if if I'm a range of
really good to really bad on a thousand
different line items that matter now
it's like you can't even like blanket
say I'm good at this at or the other so
uh if you could just get people to lower
their defenses in terms of their ego to
go I bet I could improve on everything
and be open to that not so open your
mind falls out you have to have a
coherent sense of yourself but uh
looking for ways to get better and
improve we'd be in great shape I know
some people are never going to be able
to do that uh I just don't believe I
should or anybody should be able to have
dominion over dumb
people full stop all right you ready for
the lightning round I'm I'm ready let's
do it if you had a government position
where would you want it to be government
efficiency the one that was just created
facts copy it I would have thought you
would have said like the Department of
Commerce Secretary of State I feel like
you could BR the Middle East God nothing
that made me leave uh what I'm doing
hell no I was put on this Earth to tell
stories the thing that I'm least known
for but that is my thing and speaking of
which by the way my most recent comic
book just came out on topis if you're
not already reading it all systems go is
out baby nice so yeah storytelling I
would not do anything that led me to
give up this business so that's one of
the reasons I like that is it's sort of
outside the government it's not an
official uh head Department all right
I'm gonna push you on this if I gave you
the government budget you're a single
issue voter if I put the government
budget in front of you and said you had
to slash some things what would you
slash okay so first of all if you really
understand me you already know the
answer to that which is I would want a
Team of Rivals so I would want to sit
down with truly well-intentioned people
I would want to agree on kpis where are
we trying to go what's the end state
that we want what are the kpis that we
believe indicate that we're actually
going that way and then I would want to
debate it fiercely now I am very
comfortable in the what Bush called the
deci role perfectly to be the deci but I
want to be in a room with the smartest
people who disagree with me in good
faith that will go to battle and say
this is what I think is true and try to
figure out from as many different angles
as possible so I would not want to be
the sole decisionmaker that would be a
disaster love that all right Bitcoin hit
990,000 do you see it hitting 100K next
year yes almost certainly almost
certainly let me reach into the future
uh some relatively small percentage of
the entire universe of asset classes I
forget how much is like8 trillion do or
something stupid like that in fact if
you can fact check me just say worldwide
uh asset value it's going to be
something in the trillions uh so if you
take that all real estate art uh
equities all of it all of it all of it
454 oh wait even way more $
4544 trillion at the end of 2022 okay so
you need a very very small slice of that
to go into Bitcoin for Bitcoin to like
quintuple I mean literally a just tiny
fraction so if uh I think somebody ran
the math it's like if Bitcoin were to
get seven or eight% of that which would
put it somewhere I think roughly in the
neighborhood of gold uh it would be
worth over two million I think the
numbers are directionally correct
someone's going to need to fact check me
on the exact number so if we're at
990,000 now do we get to 150,000 almost
certainly do you get to 250,000 probably
does it get north of that it certainly
could I think there's a very easy case
to be made and I think it goes like this
right now kids are being born and all
they know is Bitcoin all they know is
that the stock tickers all show Bitcoin
that their friends care about the price
of Bitcoin they never knew that I mean I
guess they hear about the fact that at
some point people debated was Bitcoin
real was it not real but to them it's
like it won't even be fortnite but their
fortnite skin today matters as much to
them as real clothes and they think it's
weird when their parents say don't you
want to spend that money on something
real they're like what do you real what
do you mean real it doesn't compute of
course it's real like that's where their
friends see them that's where they spend
the vast majority of their time with
their friends is in the virtual world I
think people are going to be blindsided
over the next 10 years how much time
people spend in a virtual world have you
seen the I know this is the lightning
real forgive me but have you seen the um
Apple Vision Pro and how it can overlay
a skin into on your own house apartment
whatever and you can be like show me my
house in real time as if it were the
1950s show me my house in real time as
if it were in the future or a horror
movie or whatever and it just skins it
instantly you can open the fridge grab
things it just it's all seamlessly
skinned dude people do not understand
every day the world's going to get more
virtual as the world gets more virtual
obviously people that grow up in that
environment it will be weird that you
make a delineation between physical gold
and virtual gold I don't understand why
you think one is better than the other
in fact they'll be like wait I have to
store the physical gold in my house how
do I even ship it how do I move it they
pick one up they're like Jesus this is
so heavy like what are you talking about
whereas the the virtual gold they can
just send anywhere it's worth a fortune
they can store their money in it it's
way easier it's harder for the
government to seize not impossible don't
get me started on that but harder for
sure and so yeah it this is where oh all
of a sudden everybody wants to think in
short-term time Horizons it's like this
one if you just like play this game
out obviously it becomes in the long
term kids just grow up with it it'll be
it will be a de facto thing in their
arsenal of places to store value you
hear it first Tom bill you said Bitcoin
is going to 2 million so buy all the
Bitcoin did not say that don't you dare
this is not Financial advice disclaimer
disclaimer exactly when when I get that
lawsuit guess who I'm sending in that
will be Drew doing the deposition
disclaimer disclaimer Aster Aster see
your attorney see your tax guy see your
mom whoever you need to talk to we
didn't do it all right uh it's fall
season I never asked you do you like
candy corn I don't with candy corn
at all oh yeah okay not in the slightest
why I'm so glad you said that candy corn
yeah that's like a wax it's a divisive
thing people like love candy corn no
it's not okay it's not okay I don't get
it it's not okay okay followup black
licorice yeah the only thing people
should eat if it were healthy I would
probably make every meal black licorice
my tongue would be permanently stained
black I love it so much I was
heartbroken Calvin and Hobbs one of the
greatest comics of all time I was
heartbroken when he likened black
licorice to writhing maggots I was
devastated I in that moment was the
first time I realized not everybody
likes black licorice I had no idea how
can you not like it it's
delicious we had so many disagreements
in the past this one might have taken
the K that's the one this is the one
that hurts you you're like I can get
Trump Trum lior absolutely not that's
the line in the say and last but not
least Mike Tyson is fighting Logan Paul
this weekend no he's not but he's
fighting Jake Paul I'm sorry he's
fighting Jake Paul sorry I promise all
white guys on YouTube aren't the same I
promise that take over time Mike Tyson
is fighting Jak come on you gotta leave
that in that was hilarious uh so who do
I think is gonna win who you think is
gonna win
who I don't know at all so let me walk
you through through the two different
ways that I could see this going uh Jake
Paul has real knockout power and so I
worry that at 58 the brain just cannot
handle that kind of trauma and so it is
entirely possible given that Jake can
knock people out in their Prime that he
just not only knocks Mike out but like
damages Mike in a way just dude you're
58 the the padding that absorbs the
normal blows in the brain like that
liquid cushion like all that stuff it's
just not going to be as good dude like
you get way more brittle as you age so
that scares me I don't want to see 58-
year olds box with a Boxer in their
Prime full stop that's just that's bad
mojo uh so that's my sort of fear
because Mike is such a legend but Mike
is also a monster he is he is a monster
man like I I was growing up with Mike in
his prime just unlike anything man so so
I if Mike is able to generate that like
old school Power and can just put a hurt
on Jake because the One Time Jake really
went against another Boxer with a
similar record he lost so it's not like
Jake is a Phenom he's impressive and I
think taking anything away from him just
because he's a YouTuber who does fights
for the carnival of it I think that
would be a mistake
um my my fear is that he's gonna he's
gonna damage Tyson and take him out
that's my fear but it would be pretty
exciting if Mike just really put a hurt
on him that would be more fun maybe
because I'm old I think that but that
would be more fun no I definitely think
that's a sentiment like the culture is
rooting for Mike Tyson and Jake Paul is
definitely the villain here yeah but CTE
aside it should be a good fight indeed
that's all I got all right everybody
thank you so much for joining us if you
have not already be sure to subscribe
and until next time my friends be
legendary take care peace if you like
this conversation check out this episode
to learn more a lot of people wondering
what a trump victory means especially
given that he won the popular vote and
the electoral vote and we are going to
talk about it today immigration debt
inflation Bitcoin abortion and AI let's
get into it drew welcome