The Technology War You Don’t Know About - Declan Ganley

31:04And the alternate is not going to be for everybody. It's certainly not going to be for most private people. But having a completely separate communications network where you can communicate the world over without touching any of this stuff, where it can be intercepted and stored, gets to be pretty important, especially if you're a bank, financial services, a government, and a pharma company, a myriad of other sectors. And of course, there will be private individuals who will want that level of security as well. So how long are we away from this particular moment? We're probably not as close as some experts would tell you.

31:50We're definitely within a decade window. Are we six months away? Probably not. I would say three, four years, something like that. Because the worrying thing is, as you've just explained, all this data is stored somewhere. And a lot of, well, the British government used WhatsApp, didn't they? You know, the American government, some of them are on signal. So you go, well, this is a... Well, the irony of that signal thing, I don't know that maybe people have said this. A signal is probably more secure than the thing that they officially are required to use. I mean, if you look at what's in the public domain on Salt Typhoon, which is the Chinese intelligence services penetration of American networks, it's everywhere and on everything.

32:44So I was not surprised to, and there was such a hoopla about that signal chat going on. I was like, okay, they're actually using something that's more secure than the thing that they're supposed to be using because salt typhoon has penetrated everything this isn't a conspiracy theory i would ask your viewers and your listeners look up salt typhoon and this is out there i mean what is it tell us about it what is salt salt typhoon is the penetration of the ministry of state security the chinese uh spice espionage service um where they have penetrated uh u.s communications networks and compromise them by putting in what they call backdoors and other forms of software manipulation so that they have been able to not just pick stuff up general traffic, but actually target everybody, including Donald Trump and Kamala Harris's own phones and Biden's.

33:41And they can single out if they want to listen and pick up your stuff through Salt Typhoon, they've been able to do that. They did it, and it has been proven. They're getting everything. So, as worrying as that is, and let's be fair, and it is incredibly worrying, do the Americans have their own equivalent of Salt Typhoon? I'm assuming they do. I wouldn't know. I think you assume too much.

34:17i have to be polite and careful in what i say we when i was in my early 20s i had look i as a kid i grew up i you know it was reagan margaret thatcher Gorbachev, Pope John Paul II,

34:46Cole, Metron. They were people that looked competent. I might not have agreed with them, but I knew they knew what they were doing. And I went to the collapsing Soviet Union, January 1988. I was 19 years old. I saw what was a giant Potemkin village, and I just knew it wasn't going to last. I just immediately knew it. As soon as I was there, I saw people queuing for sausages. What's that queue for? For sausage? What? And you knew that this thing could not continue.

35:28And I believed that the West was competent and knew what it was doing because it had done so much to defeat Soviet communism. That alliance between Pope John Paul II, Reagan, that time inspired me. And seeing the collapse of the Soviet Union made me believe anything was possible. It actually made me a passionate optimist in life that anything is possible. the number of people in this town in London that said to me, it will never change. The Soviet Union is around forever. A person said it to me on Red Square. I asked for a picture to be taken. I was 19, 20 years old. And the big hammer and sickle red flag was over the Kremlin.

36:20I said, can you get a picture of me with that in the background? And it was a Brit, a guy that was taking the picture. And he said, well, what do you want that for? And I said, well, that's not going to be there for much longer. He said, young man, that flag is going to be there long after I'm gone and long after you're gone. And it was gone within a very short period of time after that, very short number of years.

36:43And then I assumed that we would have something like the Marshall Plan, which is what was done after World War II, when you had competent administrators. and I thought the Soviet Union or much of it would come into the West like Germany did and it didn't happen and I remember a dialogue going on when Latvia had just declared its independence and I was made an advisor to the first Latvian government not that I could have any experience or knowledge to advise them on anything they didn't have experience to be a government no one knew what the hell they were doing but people were passionate and idealistic and an American said to me that the Germans are going to have to recognize them first diplomatically.

37:28And I was like, well, why? And they said, well, Monroe Doctrine, blah, blah, blah, blah, blah. And you just saw people running for the hills when decisions had to be made fast and in real time. And I realized then that we lived in a world that was becoming chronically risk averse, when nobody wanted to take responsibility. And I was having this discussion with my sons the other day in terms of when did this start? And yeah, I think August 1914 is a very interesting point of, I think that that's arguably Europe's suicide. Hopefully not. We have to find out. The surrender of Singapore. I think the surrender of Singapore is a very interesting moment where you have an elite that takes a decision that affects huge numbers of people and literally cost them their lives where they just decided we're not up for the fight.

38:28We're not going to take the risk. It's easier to not do the job that we're being paid to do. And so fast forward that to why, why are we, are we out there? Are we doing these things? and are we being effective? I would say I hope so, but I can see, for example, in my case, little sort of subset of things that are going on. In the fight that I'm in with the Chinese, we have been subjected to 157 lawsuits, different legal actions, from the courts in Liechtenstein, Germany, Luxembourg, Belgium, France, the United States. and what they do is take the u.s for example so they will sue you on a completely flaky thing um in and uh they lose and then they appeal it and then they lose and then they appeal that and they lose and then they appeal that knowing full well that there was no point at which they

39:36Francis Foster:had any chance of winning but that's not what it's about the process is the punishment bleed you out So we have spent, I don't want to say the number, but tens of millions fighting Chinese lawfare, real lawfare. This tactic of using the laws of Western countries against them and their private sector companies to achieve an objective of the People's Liberation Army of China is in the written, published doctrine of the People's Liberation Army of China. It is a legitimate method of warfare, and it's in their published military doctrine. So guess what? They're doing it. Hell surprise. And yet, how many governments have come and sort of, the cavalry never showed up for us.

40:30We've had to keep doing it ourselves. And the brilliance of it is, is by suing in all of these different countries and in different courts in the same country. So you will face the same lawsuit five different places with five different judges. And then you're going to them, well, actually, we've already argued this over here. And they're like, what? No one does that. We're like, yeah, they do. They do it. The German Ministry of Economy published a really interesting paper on this about a year and a half ago. But lawfare is, the war is on. It's on. It has started. They want to dominate technology.

41:09any technology that will give the West the edge, they want to take it off the West and take it for themselves. And they are preparing for a major event. God willing, it will never happen. What do you mean by a major event? A war. A kinetic war? Kinetic war, metal on metal, over Taiwan. And I am certain that China wants to take Taiwan. It would love to take it where Taiwan just puts its hands up, Sun Tzu and all of that sort of thing, and just doesn't even fight. And they're certainly trying to achieve that. But if they don't achieve that, they will take it kinetically. And if they can take the internet down for six months, I mean, let's say the internet went out right now.

42:01Are you going to be thinking about Taiwan? No. You're going to be thinking about how am I going to get home? What about my family? uh how are we going to have get food um i can't contact my family because my phone isn't working so everyone's got to head home actually everybody should have a plan for what happens when all when the internet goes down because it's probably going to happen um the last thing you're going to be thinking of or that you're going to be giving a flying hoot about is what's happening in Taiwan. And let's say that that happens. Taiwan is taken and you find out about it six weeks later and it's now just a fact on the ground.

42:45Who's going to do anything about it?

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43:25Francis Foster:No melatonin involved. And customers are seeing results. Olivia says, my sleep tracker shows I've been getting more deep in REM sleep. Robert Rowe, great stuff. Both my wife and I recommend it highly. Click the link in the description or head over to ver.so and use our code trigger at checkout to save 15 % on your first order. So I understand with the Taiwan thing, but why do you think, why are you so certain that this is what the Chinese want? What makes you say that? Everybody projects... I'm 57 years old. I've been around the block a few times. Maybe I'm a bit jaded in terms of my attitude.

44:08But people... One of the great hacks and weaknesses of Western liberalism, neoliberalism, whatever you want to call it, is that we think everybody thinks the same as us.

44:22Francis Foster:do you know we talk about this on the show so much because i'm from the soviet union france's family from venezuela and you you just i look around at these people who think everyone is the same and i go what the fuck are you talking you know it you know what are you talking about i i was uh years ago so this was 1993 now there's there's also too dark of a view of humanity so So years ago, I'm in Yekaterinburg, and I had been to a place called Asbest, which is out near Siberia. And we'd driven for hours and hours from this place called Asbest to Yekaterinburg, and we've got to have some meeting or other waiting to get into something.

45:05And I'm sitting in a Volga car, and there's a guy in the back that I knew had been a colonel in the KGB. A very interesting guy. um won't say his name and i said you know we'll call him uh conrad his name wasn't conrad i think conrad i said uh there's good people in russia he said no i said come on i said you know there's good people no there are no good people in russia I said, what are you talking about? Of course there are good people. And I know there are. He said, they killed them all. I said, what do you mean they killed them? He said, they killed all of the good people. They killed all of the good families.

46:00Anybody that was left, it was an accident. He said, they killed all the good people. The Bolsheviks killed all of them. He said, Stalin killed all of them. He said, the good people in the villages would save flour, and they would save honey and food and they would store it and they used to hide it in lakes. I didn't even know this was a thing. Apparently the flour forms a cake around the bag of flour so you can put it in water, but the flour inside would stay safe and they would hide it. And he said the worst bastard in the village would spy on the good families and the good people who would not just feed themselves, but they'd feed the whole village through the wintertime when the authorities were seizing food.

46:45And he said, and they would give them up to the authorities. And he said, those people would be killed. And he said, and the bastard would get half the flour. And he said, that happened in every little village in Russia, in the Soviet Union. now i don't subscribe to my that gentleman's idea that there are no good people in russia because there are there most certainly are but that mentality the idea that such people can exist and did exist and not only did they exist they thrived they were empowered they were in power You had to be an evil so-and-so to rise to the top. You couldn't get to the top and have your soul intact.

47:37You couldn't. You literally, almost literally, had to do a deal with the devil. And it's a long way of saying, if you look at somebody like Xi Jinping, you look at the so-called cultural revolution, anybody that is at the top of a communist party is a fundamentally flawed human being and does not think the same as pretty much anybody watching this podcast yeah it's so true

48:11Francis Foster:and you know it's it's interesting you mentioned the lawfare because and the way you explained it made me think of something else because you talked about the fact that the laws of western and countries are being used against them by hostile forces. And I look around at our country now and I go, well, the laws of the ECHR, for example, are being used against European countries to flood the country with illegal immigration that nobody wants. So nuts. I mean, the writing is on the wall, to use that biblical term. We are the authors of our own destruction. It's not that anybody is doing this to us.

48:50We are ultimately doing it to ourselves. If you do not prepare, I mean, this is not even a matter of not being prepared. We are inviting our own. This is civilizational suicide that we're going through right now. And the chronic risk aversion that is allowing it to happen is it exists all the way through the system, right down to the private individual. People don't want to get married. People don't want to have children. Oh, I'll defer it. I'll put it off. I'll go on an extra holiday. I want to go and climb Machu Picchu or something. Stop deferring life. If you're a man, be a man. Make a decision.

49:36Take a risk. Make a commitment. Life is one commitment after another. It's all about rising to and enjoying the thrill of embracing the risk and taking a chance and doing something bold, like having a child, like making a commitment to one person for the rest of your life, like committing to a belief system, whatever it might be. Those are the things that save us. The foundational building block of everything ultimately is the family. It starts from there. And if that isn't right, nothing else will be right and you end up seeing all of the edifices crumbling of civilizational because the support structures have already rotted away that we're supporting them from the outset I agree with you Declan there was a one element of pushback I would put to you which is our governments and particularly UK government prioritized the rights of the elderly over the young and this was quite clearly seen during covid where we were like protect the only protect the vulnerable which we can all agree with but we shut down society young people were asked to sacrifice the literal best days of their life their youth to sit in a room watch their youth get dribbled away as long as we protected the elderly and the vulnerable and you go that can't work and then you look at house building, the fact that young people can't get on the property ladder because of planning laws, nimbyism.

51:17So I agree with you. But we also have to accept our part in this and the government's part in this, that we're also not helping young people. I agree. I mean, let's take the lockdowns. So if you look to my Twitter history over that period of time, we see this thing kicks off. in uh in wuhan and and it probably started in september um and the leak if it was a leak probably took place in earlier than has been been said um and by the way it's almost universally consensus now well there's satellite imagery of the around that center that shows a lot of traffic, a lot of activity in September. And I'm in the satellite business.

52:16There is a lot of activity. There's something kicking off, whatever it is, whether it's an effort of containment or whether it's something else. You want to be a conspiracy Theorcy theorist Hong Kong was destabilizing the Communist Party of China at that moment. The protests in Hong Kong were massive. And I think the Communist Party of China saw them as an existential threat. I don't I think it was a leak rather than a deliberate leak. But I certainly think it was harnessed. um and anyway we didn't know what it was coming into christmas i was seeing these things coming out you know buildings being welded up in shanghai and people shouting from their apartment buildings and i said to my my parents i said there's something bad happening here and my my my kids they're adult kids they're all over one of my my daughter my youngest daughter was going to Notre Dame University in the US at the time.

53:20So I'm stockpiling at this point. And what day I'm carrying in ammunition. My daughter looks very disapprovingly at me. And she goes, Dad, you're not going to need that. I said, no, I'm probably not. I said, but if I do need it, I won't be wishing I had it. so i was being a prepper in that regard in in in having you know months and months of supplies i planted crops i did all of these things i i i planted more stuff than we we needed or a lot of other people but once it became clear and it was quite quickly clear that it the lethality of this thing was way below the worst expectations the lockdowns were just completely uncalled for in fact we should have been doing the opposite i mean when i was a kid in watford before we moved back to under i remember we had a measles party where all someone caught the measles i can't remember who it was that caught it was me or my friend ian or chris or somebody else and the mums would put us all together to play together and everyone would get measles at the same time.

54:37And it was like, okay, we've done that. And then you move on to the next thing. And that's how we built immunity. Now, I'm not saying that people shouldn't get measles vaccines or whatever, but that's how we dealt with it back then.

54:51Then we got into this repressive Orwellian situation. Now, I was very familiar with the Irish Constitution because of the Lisbon Treaty and everything else. And I knew that the Constitution in Ireland, particularly protected the place of public worship at mass because of the penal laws, where the Irish weren't allowed to practice Catholicism for that period of time when practicing Catholicism was illegal in Ireland, up until penal laws were finally lifted in the 1820s. And so enshrined in the Irish Constitution is this even elevated right to public worship, learning from the lessons of that time, understanding that religious freedom is the ultimate freedom from which many other freedoms actually end up being derived.

55:46So I sued the Irish government on that point of public worship, that we should be allowed, because the churches had done all the mitigation and everything else. and this is this this is when the system really gets you so i knew i had a slam dunk case they couldn't win there had already been successful cases taken in new york and a few other scotland and a few other places switzerland there was another one where there were cases in process where it was clear that they were going to win and they did i get to the irish high court and they just didn't hear the case. And it was a high-profile case.

56:27They didn't hear it. The judge kept deferring, deferring, deferring, deferring, deferring until the restrictions were lifted. And then he ruled the case. He said, well, there's no restrictions anymore, so don't need to hear the case. So it's like, you don't even let me get onto the pitch and play. You're just going to say, well, we're not playing today because game's been canceled. So those restrictions were appalling. What we did to our kids was terrifying. What the conservative government in this country allowed to happen under their watch is unforgivable, in my opinion. They resigned their right to rule here for what they allowed.

57:10I mean, people out for a walk in their own with a bloody well drone following them around. I mean, this is Orwellian. And not only do I agree with you, I passionately agree with you. One of my kids, he'll be furious to me for saying this, but I mean, in Ireland, they did away with the exam evaluation process where you sit the exam and then you are anonymous. You're just a number. I love the Irish system, the way it works. Nobody knows who you are. It is purely meritocratic. It's like, this is what you got. Instead, they said, well, we're going to give you an estimated grade. So he got an estimated grade, which is certainly where the guy would have been, maybe even better.

57:56And he got downgraded. And the university that he chose and that had accepted him on condition that he made the grades, not only did he make the grades, he exceeded them. they downgraded him to a point where the university couldn't allow him to attend that particular university so he went to another one which is very very good university thankfully it's worked out really really well for him but the injustice that was done to these kids is appalling and to the very important point that you made house ownership if we are not allowing the next generation to put a roof over their head, to be able to get married, to have kids and everything else, what are we for?

58:47This has to be fixed. Now, the reason we are in that situation, I would say, is because of the misallocation of capital that we talked about earlier in this interview, that we so corrupted the system that the PE firms and pension funds and entities that ended up with the liquidity are sitting there with a very, very small group of people running them. And they're trying to allocate capital, hundreds of billions at a time with a team of a few hundred people to high-performing assets that are going to provide a return. But when you're running a 150 million pound or$150 million fund, you need to have good performance.

59:42You need growth of 20%, so on and so forth. If you're running a half a trillion dollar fund, you don't need performance like that to make your management fee, you need 0.1%. You don't have to blow the doors off in terms of performance. You can just provide mediocre performance, and you can make out like a bandit in terms of you will live the life of a billionaire. So what do these funds allocate for. They'll go and they will inflate and buy up housing stock, land stock, the lowest risk assets that they can do, and they end up inflating the values outside of where a normal, healthy, economic biome would have housing values.

1:00:35So we have totally artificially priced housing that is completely out of whack where a 22-year-old or 23-year-old can earn, pay a mortgage, borrow the money, pay a mortgage, and have a home. And it's because there's a great parable in the Bible. It may be my favorite one, which is called the Parable of the Talents. And for those of your listeners or viewers that haven't heard it or read it, read it. And it's about the boss who's going away and he allocates money, talents, the unit of currency, to each of his servants and says, look after these while I'm gone. And one of them goes out and he speculates and he takes risk.

1:01:22And he does extremely well. Another one takes a bit less risk and he does okay. And one of them buries the talent, actually buries it. When the master comes back, the guy that buried the talent says you gave me the talent i buried it i've dug it up again here's your talent the next guy that says look i was very careful and but you know i his his your return and then the guy that blew the doors off goes you gave me these talents i took all of these risks i made this many more talents here's you and what the master says is take the talents off the other guys give them to over performer. And as for the guy that buried the talent, he says, throw him out where there shall be weeping and gnashing of teeth.

1:02:11And that is a lesson of capital allocation. And our society now is the servant that is burying the talent.

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1:03:35Francis Foster:Click the link in the description or go to pure-gold.co.trigger to get your free copy of the Investor Guide. That's pure-gold.co.trigger. Take control of your financial future today. Well, it speaks to your point about risk aversion. And I suppose the question is, how does that get resolved? Because I was just talking to my friend Chris Williamson on his show about this this morning, actually. The risk aversion in Britain, it's particularly key. I go to America and people who think like you are much more prominent there and much more prevalent there. But in Britain, we just seem to have completely lost that.

1:04:19we had it in Europe. We had, this country had it more than anybody, more than anybody. This is the country that sent out the Cussie Sark, the East Indian man that set up the East India Company that did all of these things. And, you know, I'm Irish, I'm not supposed to say this, but, I mean, this country took insane risks and built successes out of them. And then it turned on itself. and the whole West has ended up doing this. We've become this self-loathing society. How do we fix it? Ultimately, it has to be fixed, not by the government, not by societies. It's got to be fixed by us. At the most granular, private, individual level, we have to fix ourselves first.

1:05:16and this by the way is where i think faith and religion comes into being because what are your gods what are the things that you hold to be worth sacrificing for what's worth dying for and when you do die momento momento mori remember your death who do you want around you when you are dying? Because it won't be your boss. It won't be the people that you made money for. It won't be your advertisers. They will be sorry when they hear about it, but they're not going to be there. Who do you want around you when you are dying? Your family. That's the most important thing in the world. Tom. I do see what you're saying and I agree with you but it is also as well with the government aspect of it unless we change the legislation around planning laws unless we relax them unless we kind unless we get that moving then it's just people aren't going to be creating we have to tear the whole thing apart and start again this is a broken system it is not working It is not working for the young.

1:06:38It is not protecting our national integrity. It is not protecting our culture. It is not protecting our traditions, our beliefs. It's an empty, hollowed out thing. And it's, yes, we have to fix planning laws and all of those things. But we've got to fix, these are just small symptoms of a diseased body.

1:07:05Francis Foster:I think your point is that all of that stuff is downstream if people want more risk taking and act. Because then somebody would take the political risk. Yeah. You look at the situation now. I mean, we mentioned the ECHR. The way the consensus on that has shifted, you've now got people like Jack Straw, former Labour Home Secretary. We've been told for the last 10 years, you can't leave the ECHR. You'll ruin Ireland. You'll do this. And now suddenly it turns out it's all possible. Why? Because there's people on the street. Right. Because the moment you get people on the streets, it turns out suddenly the legal realities all change overnight.

1:07:40Francis Foster:And now it's possible. And by the way, they're setting a very bad example with this, because if you don't adjust your course because people are simply saying things, they have to go out into the streets where you're going to get a lot of people in the streets a lot of the time. This is true. I agree. I think that's correct. I mean, the and the ECHR is one example of the loss of democratic or popular control over the instruments of power. And as we've seen them, and this happened with the Lisbon Treaty, you know, and I said it at the time, we are moving Europe to, and this is happening beyond Europe, but we are moving Europe to a situation where we are making the positions of decision making more distant from the people.

1:08:28Now we have somebody like Ursula von der Leyen. I'm sure she's actually a very nice person. I really am sure she's a very nice person. But she has no mandate from any electorate anywhere. And she's going in and making the President of the United States and the President of this and the President of that as the representative of all Europeans. It's like, how did we get to this place? What happened to democracy? Now, is democracy the ultimate crucible? I would say no. But democracy is a means to an end. It's, Churchill, I'm paraphrasing him now, but it's the least worst system out there. So, but to your point about people on the streets, people end up on the streets when they have found out that the levers that they have been presented that allow them to control what's happening, they don't work.

1:09:19They're not attached to anything anymore. There's actually nothing. It's like one of those Fisher-Price driving toys that my kids used to have. It's got an engine noise. It makes noises, but actually there's nothing there. Yeah. And it's a very profound point. And we're talking about people on the streets. And it's one of the things that I really want to talk to you about. And so does Constantine, which is Ireland. Because we've been looking at what's been happening in Ireland, but I haven't been following it very closely because I'm more concerned of the BIM fire that is my own country, if I'm being honest.

1:09:51So what's happening in Ireland and why are we seeing this footage of demonstrations and angry people on the streets, et cetera, et cetera? It's exactly the same thing as is happening here. In fact, indeed, it's probably the consequences of exactly the same action. So those boats, when they come across the channel and all those young fellows come piling in as they do, some of that wave ends up going to Ireland. Why? Because there's lower hanging fruit there. We are called, amongst the trafficking community and their customers, Treasure Island. I better not say this out too loud. We are known to be mugs, to be the softest touches that are out there.

1:10:40I mean, we had a minister in our last government, Roderick O 'Gorman, do an ad in multiple languages, Urdu and all sorts, saying, come to Ireland. You will get your own free owned or accommodation benefits galore. It's like, I mean, you couldn't make it up. We did an ad saying, come here for free stuff. Well, what a surprise. They came. And this is a different type of, you know, somebody that will come in, you have genuine refugees that we are more, I believe we have a moral obligation to deal with. but so much if you look at the statistics of this stuff is false is economic migration where somebody will come in and will lie and falsify and claim asylum taking up a spot that is on the boat if you will that should be for somebody that's genuinely fleeing real threat to life persecution and they will take the spot and they will take handouts and dolls and accommodation and homes I mean, right now, today, back home in Ireland at my place, back gate into my place, there's a bit of land that I have on a 99-year lease with some other neighbors in the village.

1:12:12And there's a traveler's caravan on it. And it's a family and they're looking for accommodation. They can't get me. So now it's my problem and my neighbor's problem. Because so much of our housing stock has been given away to people who shouldn't be given free housing or subsidized housing. When my father was a young man, he's 84 now, when he looked at emigration to America in the early 1960s,

1:12:48he told me, he said, you had to put up whatever the number, I can't remember the numbers, X number of dollars you had to show you had in your bank account. You had to give the name and address of the sponsor. And they had to show that they had the means to look after you and to accommodate you if you became sick and unable to look after yourself. There were all of these conditions to be able to just go to america to to to emigrate to america now we're we're in is it surprising that people will show up for free stuff and if you're a self-starter and you want to make a go of it you're you know we're attracting exactly the wrong sort when we're saying come here for the free stuff i mean you do need immigration you need to choose who comes to your country.

1:13:36You need to control immigration. You need to make sure that it does not get to a scale where it destroys the fabric, social fabric and cultural fabric of your own society and the ability of whatever country you are in to be able to support it. I have immigrants working in my company. They're brilliant people. Brilliant people, phenomenal talents. We pay them very well. Highly skilled people. I've got people from more than 30 countries working in Rivada space networks. But there's a difference. And treating all immigration as the same and saying we have to take anybody that shows up, it's suicidal.

1:14:18It's nuts. And we can't keep doing it. We can't afford to keep doing it.

1:14:24Francis Foster:Declan, what's the one thing we're not talking about that we should be? oh there are so many things um but uh well one thing that's uh and this is very niche area but but we are massively overpaying for data so the way that radio spectrum is allocated by regulators in the Western world means that you are paying probably 90 % more for data services and mobile connectivity than you should be. And if you were to allow data to be priced on a according to supply-demand basis, the prices of data, wireless data, would drop to a fraction of where they are now. And we would have whole new industries, services, and applications that would naturally be being developed by risk-takers.

1:15:25And China would not be in the dominant position it is now with quantum computing, things like TikTok, and other areas of information technology. they would lose all the advantage and that economic advantage would shift back to the West. That would be a game changer economically for us.

1:15:45Francis Foster:All right, head on over to Substack where we ask Declan your questions. Artificial intelligence will create as many new occupations as it will destroy. What do you think will be some of those new high-paying occupations?

1:16:08We'll be right back.