Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

29:26The fact that Americans don't think about their water bill that much is a mitzvah. It's a great thing. Now, if they didn't have to think about electricity, wow, amazing. We will look back and I think that we will want to have seen these big companies who are unbelievably profitable step up on behalf of American homeowners. Some might say, absolutely. I just think it's a great mission to the moon style framing to say, what if we could make all residential electricity free in the United States? And over the next decade, if we can do that, not only do we help Americans with their wallet, but we actually can enable a distributed investment scheme in American energy production.

30:09And we force the corporations to step up and do their part rather than centralize it. So I just like the framing of making this whole thing free, making residential electricity free in the US as a core benefit. The other thing is we've talked about this. I've mentioned this a couple of times before. I think the single biggest dollar short, it's not clear when, that one will be able to make will be on these utilities. Because if any version of what we just talked about happens, and all of a sudden you have private homeowners that are their own utility, and then Freeberg CNI being their own power utility, what do the utilities do?

30:48what does all this capex go to how do they pay back their bonds what happens to their rate base this is a huge economic question that i think will come up if even a small modicum of what we just talked about materializes yeah and you know people having their first x number of kilowatt hours a year free you know obviously you're not going to have unlimited free you know that that's going to be pretty transformative for america it's aspirational we all like the idea i like it okay Okay, OpenAI has struck another compute deal. This one's worth over 10 billion. OpenAI is buying compute capacity from Cerebras.

31:25That's C-E-R-E-B-R-A-S. They committed to purchase up to 750 megawatts over three years. Cerebras, like Rock, makes specialized chips for AI inference. Cerebras is in talks to raise$1 billion at a$22 billion valuation, according to reports. And they're expected to IPO this year, potentially in the next couple of months. Sam Waltman is an investor in the company. so uh he knows it well and there is he really stopped i mean it's in the notes it's in the notes you can't say this stuff if you don't know if it's true it's in the notes it's in the notes take it out and post if it's not i reported by the misinformation i don't know it could be information could be misinformation shout out okay to our friends at the information these were your competitors at rock yeah uh they were contemporaries yeah they're fantastic we both started at the same time, we took slightly different technical approaches.

32:18The big difference that what Cerebra said initially from the start, and this is my friend, Andrew Feldman, so I'll give him a shout out. Very smart guy. If you see a chip, what you actually see is a wafer. And a wafer is full of little chips, right? And you literally tear them off. That's why they're called chips. Andrew was like, no, I'm just going to make one ginormous chip the size of a wafer. And so if you look at it, Nick, maybe you can find a picture of it. These things are huge. and at the time people were like i don't think they really understood what the power of what cerebrus was building and what andrew is building and then the first folks that really got on board were the emiratis so mgx and g42 and you started to run these models and what you started to see was man their inference is blazing fast again back to what we talked about last week because when you have the compute and the memory in the same place physical distances are now minimized and the complexity is minimized.

33:11So you just have incredible speed. What I can tell you is that OpenAI is aggressively trying to diversify so that they have multiple paths of inference available. They have a huge deal with AMD. They have a huge deal with NVIDIA. They now have a huge deal with Cerebris. If you look at the trail of breadcrumbs, my belief, there's going to be a renaissance in silicon. Young, small teams building decode silicon can make a fortune over the next 10 to 20 years. it's a huge opportunity it's going to be like the pc wars dell versus compact versus all of these companies it's super exciting congrats to cerebris they deserve it is there um any argument that compute needs will level off in some way we will have built so much capacity and the software will get better there's been some talk about anthropic being resource constrained as the contemporary to open AI.

34:05And I think there's pretty much uniformity amongst elite AI users that Claude is a much better product now than open AI. And the models are better. The applications are better, but they're doing it with less. So could the build out be, could it slow down? Is that a scenario that's out there? Or is this always going to be up until the right for the next five, 10 years? What's your crystal ball say? Sax, are you still there? I'm here. Oh, okay. Why is this video off? Turn it on. I mean, you can turn it back on and then when you talk, we'll just go back and forth. Texas still has a ways to go, I have to say.

34:41All right, there you go. All right, so anyway, Abbott. This is your best internet? Texas infrastructure is... Oh my God, Sax is going to do the Texas bounce back. Abbott will send someone over immediately. They're pretty responsive in Texas. My prediction is there'll be a big meme by the end of this year called the Texas bounce back. And it's a bunch of billionaires. They do a little jiggy as they dance back from Texas back to California. No. You're there for good, huh? Well, here's the thing. Okay. Well, let me just talk about BTA because that's where this is going. Well, I mean, listen, you move houses.

35:16Say you move houses, you could have a little internet issue. It's okay. Well, I mean, I'd rather have an internet issue and keep 100 % of my money than... Lose 5%. Lose 5 % plus 13.3 per year. and it's not going to be a one-time tax. That's the biggest lie. It's 5 % now, 5 % later, 10 % after that. Yeah. You know, it'll be an exit tax. They're coming for all of it. Yeah. So the internet can get fixed. Let's put it this way. My internet can get fixed a lot more easily than California can. What are the 10 states that constitutionally ban asset taxes? Yeah, so it's direct and implicit in those states' constitutions or they have an amendment to the constitution that makes it direct or implicit that you can't do a wealth tax or an asset cession.

36:04Which are they? Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas. According to Grok, only Texas explicitly bans wealth taxes. Yes, that is correct. But because of some of the other state constitutions, it's implicit. So Texas has in their constitution a prohibition on, quote, tax on wealth or net worth. Washington has a uniformity clause, which treats income as property, which bans non-uniform rates. Florida's constitution bans any sort of personal tax. Pennsylvania has a strict uniformity clause, which would make it impossible to have graduated tax rates or distinguished tax rates amongst populations.

36:44Illinois has a strict constitutional mandate for a flat non-graduated tax rate, so you cannot do a separation. and then asset seizure is referred to as a civil asset forfeiture which is a separate legal issue but implies in states like new mexico nebraska and north carolina you cannot actually have an asset taken from you by the state so there's a bunch of states that this would be constitutionally protected against freeberg has your mind changed since last week about whether this is going to make the ballot? I don't think it's going to make the ballot. I mean, look, I think it's not, I'm not saying 100%, I'm saying slight overweight that it's not going to get there.

37:27So nothing has changed in your perspective. I think we're going through the rolling wake-up process right now, which is people are waking up to the fact that the asset seizure tax is an elimination of private property rights. That fundamentally what you're saying, and I wrote this in my tweet, that private property now becomes public property because as soon as you give the government the right to collect your post-tax assets through a legislative vote, you are basically saying that you no longer have private property because at any point in the future, the government can vote to say, I'm going to take your private property, which is different than an income tax, which is when you earn something that you didn't have before, and they take a percentage of your earnings of your income.

38:06The statement now is after you've made your income, it's now your private property, they can come and take it. And so that is a distinction that has never existed in the United States, and I will make the retort right now to property tax, because people always say to me, well, what about property tax? A property tax is a service fee on a particular specific asset. The money that is collected provides services for that asset to make it more valuable. So you get roads, infrastructure, policing, fire care, schools, all the stuff that comes with property tax makes that asset more and you have the option at any point you want to sell that property and stop paying that property tax.

38:42You have the option at any point to downgrade your property and get a cheaper property and pay it lower. And here's the other important point about property tax. It's uniform. Uniform means that everyone pays the same percentage, the same property tax rate in a county. This asset seizure tax that's being proposed is a demographic tax, meaning that the state or the legislature defines a specific group of individuals. In this case, they're saying anyone with a net worth over a billion dollars. And then they can go and take assets from only that group. that is non-uniform taxation it means that for the first time we're saying based on the demographics of a person meaning whatever you want to use to define that person in this case their wealth you are going to be treated differently and that is different than an income tax because remember when you have graduated income tax rates and you say high earners tax get taxed more what you're taxing is the earnings not the individual you're not looking through to the individual to determine and whether or not they're wealthy, all you're doing is looking at the independent earnings amount that's coming in.

39:44And so a uniformity clause is supposed to protect people from being demographically discriminated against. And you may roll your hand and be like, oh, who cares about the billionaires, eat the rich. That's great. But fundamentally, you're giving the government, the legislature, the ability to, in the future, take any demographic definition they want and go in and take any percentage they want of after-tax property from you. That is why this is so troubling. And we can harp all day long about eat the rich. And obviously this group is biased. But the general population should be very much aware of the fact that as soon as you give a legislature the ability to discriminate a group and take whatever percentage they want.

40:24You've set precedent. And it's over. Now what you've done is you've made all private property public property because the government is simply giving you permission every year to keep your stuff. And the government shouldn't even know. It's like they're coming onto your ranch and calculating how many tractors you got. You got an old Corvette. How much is that worth? What's your old roadster worth? What's your grandma's jewelry worth? How much moose is worth? Moose is, yeah, they could take 5 % of moose. Very valuable thoroughbred there. Absolutely is. There'll be a new job category, tax appraisers.

40:52Tax appraisers. And then you don't know whether the person paid - Knocking on your door. I'm here to walk around your ranch and calculate everything. And it doesn't solve the geometric debt problem, right? We have a problem where every year, if we keep funding things with a deficit in California, we're looking at a 30 billion a year deficit. We've got 500 billion of debt, and we have a nearly$1 trillion pension obligation that is not funded. That money is going to come from somewhere or it is not going to get paid. It is more likely that they're going to do everything they possibly can to get that money from somewhere rather than not pay it.

41:26And the same is true for all pension obligations across the country. Illinois has a big problem like this as well. Well, can I take the other side of that bet that you mentioned about it not getting on the ballot? Please. Yeah, go for it. Well, I've never understood why this wouldn't get on the ballot. And I've never understood why once it's on the ballot, it wouldn't pass, which is why I left. So let's take the first one of these in terms of it getting on the ballot. You only need about 8 million bucks to collect the signatures, 850 ,000 signatures. It's not that many in California. There's definitely millions of people in California who would love to stick it to billionaires.

42:02so they're going to gather the signatures that seiu has the money the only way that it wouldn't therefore make the ballot is if gavin newsom and the political machine bribe the seiu with enough political benefits that they'll withdraw it but what the seiu is asking for is whatever it is the 30 billion dollars and i don't know if gavin newsom has that much money laying around somewhere that he can just give them. Furthermore, if you're the guy running the SEIU, I understand his name is Dave Regan. Regan, Dave Regan. You got to be looking at what's happening on X right now and you got to be gleeful.

42:39You got all these billionaires are panic tweeting all day long. It's not all day long. I tweet in the morning from the bathroom. Well, we're all doing it. Morning constitutional. I went on a base tweeting spree this morning. So if you're this guy, Regan, you're like oh my god look how much leverage i've got you know twist a pig's ear watch him squeal he's twisted these billionaires ears and they're all squealing so why wouldn't you increase your leverage by spending the eight million dollars put it on the ballot and then negotiate with was that a deliverance reference i hope not no it's just an expression i don't know why your mind is going to deliverance i don't know you squeal louder You got deliverance on the brain.

43:23Maybe I do. So I'll tell you why. So I've obviously been a believer. I've been a believer in the long cycle. And I've said this for a long time. We are going to end up in either a socialist or some sort of fascist. Either way, it's a tyrannical system to get us out of the death spiral that we've been in for some time. So that is true. But I still want to retain my sense of individual agency. And I do think that those of us who are in California who actually care should retain some sense of agency rather than suspend our ability to have an influence in the outcome here. I think we need to speak openly and honestly about where this leads to, let people hear it, let the people in California decide.

44:02And frankly, if we've done our job, we've spoken loudly, we've spoken clearly, we've revealed to people where a private property seizure tax leads to for everyone in this country and the deletion of private property rights in this country and they still sign up to it, then I'm out. Yeah, I get it. If it was a centimillionaire tax, she would have been out. I agree that we should fight it. I'm not being fatalistic. I don't think the outcome is predetermined, but I don't understand why it wouldn't get on the ballot. Because that has nothing to do with how persuasive you and the opponents of BTA are.

44:36It's just about whether SEIU, UHW will spend the requisite amount of money, 8 million, 10 million, 12 million, whatever, to gather the signatures. And, I mean, we've heard they have the money, right? So why wouldn't they? It only increases their leverage to demand more concessions. They have$14 million to gather the signatures, which the estimate was they'll need somewhere between 5 and 15. So they have the cash they need to gather the signatures. It's a good bet. And they have roughly$10 million to run an ad campaign. And their estimate is they need between$50 and$100 million to run an ad campaign.

45:06Sounds like a good investment. The next step will be that they'll try and get this thing signed up. Now, the polling data, it shows that there's room for influence, Zach. So I do think that if people can understand where this is headed and look, if America wants to sign up to this, Godspeed, man, like that's where America is going to end up in the socialist death spiral loophole. Like, good luck. Have a good time. I'm going to terminus to start the foundation. I don't know where the hell that is, but I'm out. You're out. I'm out. And in the meantime, all we can do is speak truth to it and try and shine light on it and see where it goes.

45:43Hey, maybe 51st state Greenland. Maybe we'll just do the first state. Look, I'm not saying it's going to pass, although I do think it's probably slightly more likely than not to pass once it's on the ballot. I just don't understand why it's not going to be on the ballot. And once it makes the ballot in, let's say, April, I think there's going to be a big freak out and rush for the exits because there's a lot of people who, you know, this is my theory is I'm going to beat the rush before the end of the party. People don't realize this. It's not billionaires. I have received dozens of texts, emails, calls from people, founders, business leaders, CEOs that are out.

46:17If in April, this thing ends up on the ballot, because they're like writings on the wall, if no politicians in California are willing to stand up and talk about private property rights, and no one's willing to say like this leads to a death spiral for the state and potentially for the country, and no one's going to say that, then it's only a matter of time before this happens. And it's only a matter of time before it hits me. Right. So everyone is looking for a place. Let me give you a data point on that. there are other unions who weren't part of this ballot initiative who are preparing similar ones for 2028.

46:47And those ballot initiatives are going to be more bulletproof. They're going to be better lawyered, all that kind of stuff, more likely to survive constitutional challenges. The only reason why there is political opposition, I believe, to the BTA is because it was done by only one union, the SEIU, UHW. This guy did it on his own. And the loot, all the proceeds from this confiscation would go, almost all of it would go just to this one union or its causes. So they didn't cut in the other unions on the loot. They didn't wet the other unions' beaks. As a result of that, the other unions are actually against it.

47:27And this is why Newsom and the other politicians feel relatively unconstrained and saying they're opposed to it. And that's why I think that if we defeat this in 26, it doesn't mean it's dead for good. It just means it's going to come back in a new form in 28, but with much more broad-based union support. All the unions are going to do it together. So I just think this is inevitable. And I think that for all the founders and whether you're pre-exit, post-exit, or on your way to an exit, my advice would be that, to quote Maya Angelou, when a state shows you who they are, believe them the first time this is the direction of travel in california and whether it's seiu or whatever they do in teachers this is where it's going they'd love to see something you said something that resonated with me which is the next versions of this will be better lawyered and more bulletproof i've had a team of people looking at this the thing that is the biggest weakness here is looking at the fact that this is a wholly new tax that is applied retroactively.

48:35And when you look at the Supreme Court at the federal level, the case law on this, this is the strongest challenge that people will have. And this is where there is a preponderance of evidence in the favor of people saying that this is unjust, and this is a taking, and being able to use the Supreme Court to bat this back. now that'll take five and ten years to litigate because it'll be there drawing itself through the courts forever but when you look at the fact that that will be the angle of attack that people will take if this passes i a hundred percent agree with you sacks if this union were smart enough what they would have done is say this is going to start jan 1 of 2027 it probably would make the ballot, it probably would pass, and they would get all the loot, and it would be very difficult to legally challenge this thing.

49:29It was a huge miscalculation by that union, but in 28 or 30 or 32, this will rear its ugly head, it will be better architected, and there will be no way around it. And at that point, why create an artificial line at one with nine zeros after it? Why? Why? It's stupid. Go to 100 million. Get everybody. Whoa, whoa, whoa, whoa, whoa, whoa. Move that number up a little bit. Let's get it to 250. And if what we're saying is right, then why would it not happen at a national level? Of course it will. Yes, they're going to start chasing you around the country. It's disgusting. Well, because I'll tell you why.

50:10Because we still have plenty of conservatives in the rest of the country. California is screwed. But we got to start stacking sandbags around the rest of the states. Freeberg, you said something that I really liked in your post, which is it begs the question, what will happen when California goes BK and then they go to the feds? And it doesn't actually matter who is in charge at that time. But let's think about it if Trump were in charge for a second. California knocks and says, hey, I need you to bail us out. the deal that california would need to do with the president for that to even be palatable so that he could build a coalition of republicans around it man california will go through tremendous pain measures but then go through the other side so now imagine aoc's president aoc's president so she says i got to do this and then when it goes to congress how does this actually happen this is again where i think sax is right as long as there is a 49 51 kind of a balance i don't think anything can really happen without meaningfully deep austerity in california i think there's a way out for now if the filibuster is gone by that time yeah and it's simple majority and then if there's a democrat in the oval plus a democratic congress yeah david you're right because that is the one shot on goal that they have a two-year window to run that play at the federal level and they will be able to get it done now ask yourself the question what happens to the citizens of florida the citizens of texas and the citizens of north dakota and the citizens of all these states that pay federal taxes have not had this problem in their state and they're basically paying dude alaska has a surplus alaska has a surplus yeah but why should what do you do what do you think it'll happen california it's unfair all those citizens and this is where the union starts to unravel.

52:01And that's where I get very concerned about where this leads. As soon as you allow this asset seizure tax to pass, even on a state level, the economic ramifications are on a national level, the economic ramifications are inevitable that some states are going to have to bail out other states. And that's where things get very ugly. The bill will come due at some point. This is super easy out here for the Democrats or people who are supporting this. Just go after fraud first, tax a second. That's got to be the mantra going forward. We're going to eliminate fraud and waste, and then we'll have a discussion about taxes.

52:33That's the only way for them to find an escape hatch here. Okay, we've beaten this to death. Well, it's how you win the moderates. Yeah, I mean, like... Yeah, that's what I'm talking about. But just some interesting stats here. So California collects roughly double per capita what Texas and Florida do. So California collects about$10 ,319 per taxpayer, whereas Texas,$5 ,469. Florida,$4 ,914. So there's not an issue here of California not collecting enough taxes. The issue is all on the spending. And on that front, the California budget has doubled over the past decade while the population stayed flat.

53:13And in fact - And services got worse. Services got worse. Test scores got worse. Crime prevention and enforcement got worse. Where's it going? They let convicts out of jails. Everything's gotten worse. Where's the money going, Saks? Say the word. It's going to these government worker unions who have accumulated too much political power. Look, you go all the way back to FDR, and he was opposed to, even though he was for unions, he was opposed to government workers unions because he thought they would accumulate too much political power, and they elect the politicians, and then the politicians are the ones paying them.

53:49So they just end up extracting more and more and more iteratively with every election cycle. It's the same as an antitrust monopoly in a corporation. It's the same ultimate dynamics as having a monopoly in private industry and corporations. It basically gives you a monopoly on political power, and it gives you the ability to monopolize assets. And that's effectively where we are. Now they're at the point where one union is saying, I'm going to take the assets,$100 billion of assets from a small minority of people in the state. The reality is that a lot of it is the pension obligations. You can work for the state for 20 years, retire in your 40s, and you basically, what, you get like 90 % of your wage for the rest of your life.

54:31It doesn't work. It doesn't pencil out. It's got to end. They use your last year's W-2, so you stuff it with overtime your last year, and you end up retiring with like 150 % of your annual salary for life. It doesn't even apply to your spouse, too. But this was the promise that was given in order to get the votes that have gotten us to the point we're at today, because that is how the unions operate. Right. It is a system that drives political influence by making these sorts of benefits law and brings them to bear. if the average retirement age is 50 and your lifespan is 80 like this is way this is not how it was intended people used to get these at 60 and they would die at 68 it was like let's say you start working for the state at 22 and you can retire at 42 actually what a lot of people do is they'll go then take a second government job and they'll stack a second pension but yeah you could retire at 42 and if you if you stuff it with yeah yeah you can stuff it with overtime and and i think it applies to your spouse as well just fact check me on that I know I'm aware of it in New York where a little bit of this stuffing on the margins does occur, I've heard.

55:39I'm not against police officers and teachers and people getting reasonable. You need to do superannuation funds. You have to have people buying into the market over time, and the government shouldn't be managing this. It's just the government is terrible at whatever it does, and there's too much for them to do. Let it stand alone. Take it out. Carve it out. you're you're forced to put 12 into this or your employer puts a little bit into it and then we'd have a very happy society more participation in the market would solve so many problems okay i just want to hit one last topic congratulations to greenland on accepting a very generous offer from president trump we welcome you as the 51st state maybe that'll be happening any day now u.s officials met with reps from denmark and greenland at the white house on Wednesday to discuss how the US could take control of Greenland.

56:32This has been something Trump's been talking about for years. And remember my rule number one of President Trump, he says a lot of things. One way or another, we're going to get it March 4th, 2025. I need it for psychological reasons to actually own it. 2021, he said that we're going to do something with Greenland, either the nice way or the more difficult way, January 9th, 2026. Denmark doesn't seem to want to play ball they say they have a fundamental disagreement about this that being said there's only 50 000 people there and it's a poly market's got it a 17 chance that we acquire it which is significant as a starting point 50 000 people getting a half million or a million dollars each would probably be a pretty good deal it's a very strategic piece of land if you look at what's happening with the ice caps melting, SACs, and Russia positioning a lot of their ships up in the Arctic, there's a pretty clean shot going past Greenland to the northeast of America.

57:36So maybe you could just talk about why this is, and again, you're not speaking for the administration, it's not your lane, but why is Greenland so important? Well, it is becoming more significant from a national security standpoint as those Arctic ices melt and you have new shipping lanes that have opened up. So it is important on that dimension. But look, American politicians have wanted to acquire Greenland for a long time. The great Secretary of State, William Seward, wanted to acquire it. He acquired Alaska. He wanted to get Greenland, too, was unable to make that deal. But FDR and Truman both were interested in acquiring Greenland.

58:09It didn't work out, obviously. So this is an old idea that's new again, thanks to President Trump. I think he makes a great point. Why does it belong to the Danes? You know, it's a small country in Europe. It's not part of North America. And I think if we can acquire it for national security reasons and resource reasons, we should. And I think the odds of him pulling this off are much greater than 17%. Chamath or Freeberg, you have any thoughts on the 51st state? I don't know anything about it. Well, they don't have to become a state, to be clear. No, no, I don't. They can become a protector. Yeah, I mean, territory, whatever it is.

58:44Yeah. It could be like a country club, whatever. It's important that we get memberships. This is a huge piece of real estate in the Western Hemisphere. It doesn't really make a ton of sense for Denmark to own it. It makes a lot more sense for it to be part of the US. And? We're willing to pay for it. And I think that we can make them an offer that they can't refuse. Absolutely. And it has - We're going to send Luca Brasi over there. I thought Luca Brasi, get a bank of an offer. it's got a lot of railroads minerals there's a lot of oil offshore their big export now is is fish obviously but this has lots of potential freeberg in terms of the resources and um yeah why not get it done trump loves real estate we got him for another three years i say let president trump cook and if he wants to buy some other land i'm here for it i love building the empire this is my favorite trump freberg you love this trump or not the old adage is there's always a deal there's always a price except when you're negotiating with the government so i don't know how that's going to go my understanding my experience is that they do not want to deal they're not interested there's a whole bunch of national pride associated with that you can't break national pride as we know as patriots of america it is very hard to fight national pride i don't know if the economics are really going to play out.

1:00:09But security guarantees, maybe other benefits for the great kingdom of Denmark, there could be a strong alliance and partnership for the United States. I think it could be important for the U.S. to have a new frontier. You know, maybe what we can do is send all these progressive socialists off to Greenland to tame this new frontier. I want to go. Yeah, send Mondami there. They get that grit. We need that spirit of the frontier of cowboys, of exploration. yes then mandami seems like a very resilient gritty guy he'll come with this whole crew the socialist roe kanna let him set up there let's see what the idea of having what's called a freedom province or freedom state or freedom city economic free zone yeah yeah and and i do think if we if we are looking down the barrel of socialism in the united states which i think socially leads to a destruction of individual liberties and a degradation of the social fabric in America.

1:01:05Before that happens, it's important that those who are on the other side and before they get overwhelmed with the votes and the elected officials that will fight against them, before this all happens, it's important to think about carving out a legal territory. And that legal territory should allow for the resurrection of the great American union, of the great American spirit. And we should find a place within our sphere of influence before we get overwhelmed to set something up. It's called Texas, dude. It's called Texas. Remember the Alamo. We're making our last stand here. Absolutely. The.50 calibers are up on the ranch.

1:01:43I think it would be helpful to get something that's federally set up, Saks, that you could have untouchable legislation that says this is not to be touched. This is pioneering, whatever it is. Freebird, join the militia. We got a militia. And maybe Greenland is the place, but it's something that feels, it's got to be something that feels difficult, something that feels open, something that feels a little bit untouched. And it's regionally encased with a set of legislated things like Guam or Puerto Rico or something where you set it up and you're like, look, this is untouchable. It takes a big action to change it.

1:02:19Something where people can have protection against the socialist milieu that's all the way. Well, you know, it is kind of interesting as I remember from my high school history, I think the frontier was officially over by 1910. I think that was meaning every longitude basically had been fully explored. Every latitude and longitude had been sort of settled. And that is when the progressive era kind of began. And I do kind of wonder whether the frontier was this like escape valve for pressure that builds up, you know, resentments that build up in the economy. me, people could always just go west and become pioneers and find new territory.

1:03:00That's right. And in a way, that's what America was for Europe, right? I mean, Europe was sort of this overcrowded place. It was oppressive. And people just left that they could opt out by going to America and settling over in what would become the United States. And I kind of wonder whether maybe we need something like that again. And by the way, I think the digital frontier - As an escape hatch for all the discontents. You're right. So they don't become democratic socialists in America. And for a while, the digital frontier became that escape valve. But now that's being shut off, and it's being closed down.

1:03:31And the place where it's been run from is being subjugated to the socialist. So the question is, what's next? I think it's a very good question. Well, the problem is that the socialists, they're not explorers. They're not pioneers. They don't create anything. They're not builders. What they are is they're really good at hijacking existing institutions. And that's what they do is they take things that were created by great people and they subvert them and they seize control. And that's what they're going for is total control. first in California and then in Washington. But I do wonder whether the existence of some sort of release valve might defer that day, right?

1:04:13Because you get less pressure building up in the system. Yeah. All right. Another amazing episode. And just want to give a shout out. Chamath did an amazing interview with my guy, Howard Lutnick. That was fun, huh, Chamath? That was awesome. He's awesome. Yeah, I'm really impressed by him. And Freeberg, on a bit of a heater here, today we dropped an incredible interview with fda commissioner marty mccarray am i pronouncing correctly mccarray great job there and uh also you're you got to hang out with your childhood hero we grew up on howard stern on the east coast but you grew up with adam carolla and you got to interview him you were fanboy fangirling a little bit there at the start weren't you well it was great i'd never met him so it was great to interview him i mean he has a a lot of interesting ideas.

1:05:00I got a lot of texts about his coined term gyno-fascism, which I think some people - Explain to the audience what gyno-fascism - Watch the interview. Okay, watch the interview. We don't want to get a - He was great. You had to see the start of this interview. Javad Freberg's like, Mr. Carolla, I used to watch you and Dr. Drew talking on Loveline, and it really was formative in my years as a broadcaster, and now I, too, am a broadcaster. It was really cute. It was really cute. I never said I'm a broadcaster. I would never. You were like, I would never, I would never degrade myself like that. I actually am doing random acts of broadcasting.

1:05:40The sun never steps on the all in empire. And I also did a, a fun CES interview with the CEO of McKinsey, Bob Sternfels and Haymont from general catalyst. And that's up on the feed. So four, four, one, two, three, four. interview shows waiting for you in your feet and to the mainstream media trying to keep up with this gfy gfy good for you have fun trying guys believe that jacob has been invited to davos i can't wait to see i'm bringing my acoustic guitar i'm gonna tear it up we're gonna have fun did you guys see me rage bait twitter two days ago what did you know what did you do i put this thing where you showed your legs no remember when we did the interview at the all-in summit where talzi talked about the obama documents yeah well this guy did a rant i thought the rant was great but i just retweeted it and people lost their mind basically he was calling for obama's arrest oh god oh gosh i said very casually gosh this is a really underreported oh i saw that one I was wondering who that guy was though I'm like hmm Did Nat make you take it down?

1:06:54No he's still up there Wait who is that streamer? I don't know who he is It could be AI Could be AI I think he said he met Did you guys watch Nick Shirley's new video? Oh no He goes looking for the Check this out There's these transportation companies they get$10 million a day in Minnesota. A day? A day for non-emergency medical transportation. So the state will pay if you transport someone that's autistic to Target to get them groceries, 50 bucks a ride. And there's a website where the transportation company gets to log into the website and they're registered as one of the transportation companies.

1:07:39And they're like, I took someone from this place to Target. And you get, and you fill out all these forms and then you get a check immediately. It's a trust system? They never investigate. They don't audit. They don't check. Nothing. So Nick Shirley starts going around looking for the transportation companies. And it's like a liquor store. He's like, where's the transportation company? The liquor store guy's like, there's no transportation here. It's like a burrito place, like a deli. All of these places are just like transportation companies. Tens of millions of dollars a week just being given out.

1:08:12And by the way, this is not a race thing. It does no one any good to cast this as being a Somali thing. And that, I think, is what's getting everyone in trouble. No, it is. And by the way, it's what shuts off a lot of people to actually being able to look at the fraud. And it's not about the Somali people. It's about the fact that fraud is allowed by the government. And it's about the fact that the government either is implicit or complicit in this fraud. And I think that that's what people need to pay attention to and ignore all of the rattlings about what community or what group or who's doing it and just focus on the fact that the government lets this shit happen.

1:08:47If you think about the state of California spending$350 billion a year and you ask yourself the question, are those government agencies and the agents in those agencies doing their job of making sure that there's no fraud taking place? There is no way anyone's going to raise their hand and say, yes, they're great fiduciaries of taxpayer money. and that's what we should all be paying attention to and get out of the political divide on all this and the racism and all the bullshit and focus on the fact that the government does this shit. All right, everybody. Another amazing all in episodes. Thanks.

1:09:16Thank you for tuning in. Like, oh, by the way, guys, we hit a million subs on YouTube. They sent me a gorgeous plaque. I'm putting it up in my office. It's amazing. And they sent the million plaque. It's great. All the team autographed it and wrote a really nice note. Can I say something? Yeah. You're welcome. You're welcome. Jermon would like to say you're welcome. Jermon's like, you're welcome. All right. See you at Davos. Kumbaya, Davos. We'll see you there. We'll let your winners ride. Brain man, David Sack. And it said we open source it to the fans and they've just gone crazy with it. Love you, Wes.

1:09:58I scream. I can't lie. I'm going to win. Let your winners ride. Besties are gone That's my dog taking a No, it's in your driveway Oh man My avatasher will meet me at once We should all just get a room and just have one big huge orgy Because they're all just useless It's like this sexual tension But they just need to release somehow Wet your feet Wet your feet We need to get merch Besties are back I'm going all in

1:10:38I'm going all in