PBD Podcast | Guest: Danielle DiMartino-Booth | EP 59
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PBD Podcast Episode 59 with guests Tom Ellsworth, Danielle DiMartino-Booth and Adam Sosnick. Download the podcasts on all your favorite platforms https://bit.ly/3sFAW4N
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The Bet-David Podcast discusses current events, trending topics, and politics as they relate to life and business. Stay tuned for new episodes and guest appearances.
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About the host:
Patrick is a successful startup entrepreneur, CEO of PHP Agency, Inc., emerging author, and Creator of Valuetainment on Youtube. As a natural critical thinker, Patrick takes complex leadership, management, and entrepreneurial ideas and converts them into simple life lessons for today's and tomorrow’s entrepreneurs.
Patrick is passionate about shaping the next generation of leaders by teaching thought-provoking perspectives on entrepreneurship and disrupting the traditional approach to a career.
Follow the guests in this episode:
Tom Ellsworth: https://bit.ly/3pvFrLT
Danielle DiMartino-Booth: https://bit.ly/36nGzLn
Adam Sosnick: https://bit.ly/2PqllTj
To reach the Valuetainment team you can email: info@valuetainment.com
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0:00 - start
0:37 - Jobs Friday
46:49 - Bill and Melinda Gates
53:36 - Jaime Dimon fed up with remote work
1:09:44 - Elon Musk arrives in NYC to brainstorm 'SNL' ideas
1:17:31 - Biden's Tax, wealthy may face 61% tax rate
1:32:37 - Verizon sold AOL and Yahoo for $5 Billion
1:42:48 - Heavy-handed riot police brings criticism on Colombia
1:54:58 - 6 Reasons why young adults should get vaccinated
About 30 seconds ago, Adam was giving us 10 tips on how to date cougars.
And you fully missed that part, but who knows?
Maybe he'll give us a couple tips.
This is Florida, maybe.
Podcasts.
Today, I think it's the first time we have Tom and Danielle on the show at the same time.
So, Daniel, good to have you in town.
Tom, good to have you in town.
It's a big deal.
Yes.
What's tomorrow, by the way?
Tell us what's to do.
Tomorrow's Friday, Jobs Friday.
That's Danielle's like Super Bowl.
Non-Farm Payroll Friday.
Yeah, everybody's a big deal.
8:30 a.m. Eastern Standard Time.
Everybody has to be quiet.
Everyone in your house knows do not talk to Danielle on Jobs Friday.
So ready to be lied to by the federal government.
Here come the numbers.
So from last time you were on till today, what are the jobs looking like?
Scarce.
Damn.
I mean, no.
Look, there are.
So you want to get on this right away?
Yeah, go for it.
Give it to us.
Let's get into it.
No matter whether it's across the Midwest, whether it's here in Florida, just driving around, whether it's Texas, you can't drive a block without seeing a help warn it sign.
That's right.
There is a massive undersupply of labor.
In Texas right now.
Everywhere.
This is a nationwide phenomenon because there are federal unemployment benefits that are being paid to people, and it makes no sense to work if you can get paid to sit on your ass for a lot more money.
And that's what Americans are doing right now.
This is so not American, what we're witnessing.
So you're saying that, but the numbers show unemployment's, you know, doing great.
Economy is growing.
No, no.
No, there are a lot of people who are taking jobs, but that does not take away from.
Look at what happened to small businesses during the coronavirus.
You got your big box retailers, Walmart was allowed to stay open, Home Depot, Lowe's, and all the small businesses had to close.
And now, bigger companies, Amazon, they can pay a little bit more per hour to bring these people off the sidelines.
Small businesses can't do that.
They don't have the funds, and they can't compete with these large players.
So you screwed small businesses during the coronavirus.
You're screwing them now with federal policy because they cannot afford to compete for labor that wants to sit on its ass.
I've seen things like McDonald's is paying 50 bucks just to come.
Don't get 50 bucks just to get an interview.
Are you kidding me?
No, no, no.
I went.
I got 50 bucks.
I got a happy meal.
It was great.
You make a hell of a drive-through cashier.
Oh, yeah.
I think you kill it.
That's your joke.
You wouldn't hit their 59-second time, but you would be like a four-minute drive-through.
It could take a while.
Yeah.
Productivity would crash at McDonald's.
No question.
But because you're a sapiosexual, people would want to hear from you on the other side.
I'm going to explain what that is.
Ding, Word of the day.
Word of the day.
What is a sapiosexual?
Tell us.
That is when you're attracted to somebody's brain, regardless of how their outward appearance is.
BizDoc, this is how you pull all the chicks.
Clearly.
This is it.
This is the way I got married to a teacher.
By the way, make a note.
We got to get assured saying I'm a sapiosexual.
We got to get something on the bottom.
You're attracted to someone's brains.
You're attracted to someone's brains.
So, Danielle, you having beauty and brains has never been a problem of yours, but bullets.
From a female's perspective, how important is it looks versus money, wealth, brain for a man?
Because I can tell you for a woman, you know, looking at a man, I can tell you what a lot of men in South Beach are looking for.
It's not exactly on a matrix of sorts.
You would have to run like a scenario analysis.
It depends on what your objective is.
Yes.
Really?
I mean, if you actually want to spend time with somebody, then having no brain doesn't work for more than, oh, I don't know, 10 minutes.
Okay.
Maybe less.
Maybe less.
Can I tell you what I asked?
It all depends.
Women.
That's right.
It all depends on the keyword.
It's variable.
I'll tell you what I ask a lot of women in South Beach.
I ask them this question.
It's sort of like the running joke that I ask women.
I brought this up on the podcast before.
I say, ladies, question for you.
Would you rather date like a serious date and or marry a guy who's like the hottest guy in the room?
You know, Matthew McConaughey, George Clooney type, Leonardo DiCaprio, that guy.
But you say those names.
Those are smart guys.
You got to say somebody who just got the look.
I'm just saying very good looking guy.
Very good looking guy.
Or.
Broke as shit.
He lives with his parents at home, lives in the basement.
See?
Or, okay, that doesn't do it for you.
Or wealthy, super successful, intellectual, sapiosexual.
Complete sloppy dude.
300 pounds, bald, gross.
Whoa, Not hitting on the ball, people.
I'm just saying he's not taking care of himself.
Those are your two options.
What are we going with?
The successful.
Okay, the three pounds sloppy part, that does not fit inside the scenario analysis anywhere.
You're going with the broke, good-looking guy.
Yeah, for about 10 minutes.
I'm talking about a serious relationship.
I would love to hear what we're doing.
But what you're doing is you need a third option.
What is the two options?
Who are you?
The dictator in the world to get two options.
Nobody.
Or I got a third one for you.
Or a 40-year-old single man, handsome, good-looking, can pull off a mustache, a beard, comedian, smart, good with money, saves his money, doesn't drive.
You know, you're trying to get Adam married again.
What, like, if we have an option like that, that's the direction I would be going.
That guy sounds great.
By the way, I'm right here.
That sounds like a super.
That guy sounds great.
So how the hell do we go from jobs to your idea of who is?
Because I'm looking for unemployment.
Is that what you're looking for?
Tom, how'd you get to?
We met your wife a couple weeks ago.
The Bizdock babe.
The BizDoc babe.
She doesn't even have a name.
She just goes by the Biz Doc Babe.
That's what I call her.
How did you pull that?
Because she's smart, attractive, loyal.
How did you pull that?
It was the classic golden retriever at the beach trick.
What's that?
You know, where you throw a tennis ball over at the pretty girl sitting there with her friends, and your dog goes over there, then you go over, I'm terribly sorry.
And then you strike up a conversation.
So what happened in real life?
I was at church, believe it or not, and my friend's daughter was talking to this rather attractive lady, very attractive lady.
I thought, wow, she's cute.
So I walk over to Megan, which is my friend's daughter.
I said, Megan, who's your friend?
Oh, this is Miss Fanbury.
She's my teacher.
And my first words to her was, hello, Miss Fanbury.
Boom.
So you got a referral from an eight-year-old.
Yeah, who is her teacher?
Nice.
And under the guise of being concerned that my friend's daughter's strategy.
Yeah, my friend's daughter.
She's fired today, by the way.
It didn't work for you.
As soon as we get off the air, I'm going to go buy you a puppy.
I got two cats and some tennis balls.
You didn't know that?
No.
Two cats is what he's got.
Yeah.
Yeah, yeah.
I'm so sorry.
He's got two cats.
I'm a cat guy.
No, no.
You can't say that out loud to women.
I know, but they meet the cats, they fall in love.
They judge me, and then they come over, they see the cats, they say, not so bad.
Any good cats?
Okay.
Yeah.
Back to that.
I'm not opposed to a dog.
I just.
So my ex-girlfriend liked cats.
We got cats.
That's non-farm payroll Friday.
Let's hear the conclusion to your story.
You got the referral.
No, we just struck up a conversation and started talking under the guise of me being very concerned that Megan was speaking to a stranger.
Hold on.
I got to do a stranger danger.
Yeah, no, and struck up a conversation and it went from there.
What are you looking for?
We're not turning this to a doctor.
We could talk about this for two hours.
Yeah, that's right.
We went back, had a couple shots of tequila.
A, get rid of the cats.
B, get a puppy.
Okay, we've got it.
We need to write a list.
You know what I'm most excited about today?
Because I know we're going to get to the top.
You're on Muskets on L story.
Oh, no, no, no, that's not the first time.
We got to talk about that.
I'm actually excited that the BizDoc and Miss Danielle Di Martini.
First time ever.
I've never met in person.
That's right.
That's crazy.
This is a first time.
They see each other in Valutaine Economics.
It's like ships crossing in a night, but they've never actually got out of board with each other.
So I'm excited for this.
What a brilliant answer.
Two of the smartest people I know.
The planes do fly.
Yes.
And today, your interview with Tom just went live 30 minutes ago, so it's going to be on the 10th economics.
Go check that out.
I interviewed the BizDoc a month ago on Jobs Friday.
Danielle and I sat down.
The interview crushed it.
She crushes it like she does everything.
It was the day drinking.
This is, I think, a theme that I'm doing, day drinking.
Now, hopefully, if we get to 3,500 viewers to show you.
She's not a tequila person, she said.
I'm not a ticket, but let me tell you, the country is.
So 2020 was a huge year for liquor consumption in America.
We know that people were cooped up at home and drinking a lot.
But tequila shot it out of the park.
Overall, year-over-year sales up 10%.
Super premium, ultra-high-end, sales up 20% year-over year.
Tequila's hot.
Is it just the ultra-premium or is it tequila overall?
Well, it's, well, a lot of intelligent, hot men have decided to attach their name to tequila brands.
The rock.
Who else?
LeBron.
Who else?
Who was the first?
The first?
Ryan Forensic first?
George.
George Cooner.
What's his last name?
Clooney, right?
Clooney, Clooney.
Something Cooney.
Clooney.
What's that new singer that came out?
Avril Lavant?
No, you know, it's really interesting.
There's a rule.
If you don't know how to say somebody's name, don't just.
Well, that's what happened yesterday.
Pat's going through the list of like who the top musicians are.
Okay, we got Drake.
Exactly.
We got Bad Bunny.
We got Billie Eilish.
And who's this?
Avril Levant?
It's Avril Levit, Pat.
Okay.
She had to throw that G in the Levant.
You know what's really interesting about liquor?
Live from Paris.
No, no.
That should have been recorded, bro, because I would have got it.
You know, this really teaches you something that, you know, like from a marketing standpoint, so for people that are listening to Valutaine, I actually want to get something out of this today, then let us get back to jobs and the economy.
You know, liquor has become like fashion brands, and craft beer has been like fashion brands.
If you go back from 2000 to like 2010, that was like the heyday.
Here comes the vodka.
Remember, all these vodka brands came out there like this.
Tito's in Texas, which is now nationwide.
People don't know that's a great entrepreneur success story.
But they're like fashion brands wrapped around it.
There's a mystique.
There's something.
Now, it also has to be very, very good.
You know what I'm saying?
Your liquor has got to be good.
And now, right now, we are in like the golden age of tequila.
And it started with George Clooney and everything.
I think this is very, very interesting.
And right now, the 2020s are tequila and tequila drinks.
Are you a tequila person yourself or no?
I am not really a hard liquor person, as you know.
I'm a craft beer person.
You've known me.
Yes, that's right.
And so I don't have martinis, but I'll have one once in a while.
Like the Biz Happy and I go to Ruth Chris or something.
I'll have a martini because it just seems like white tablecloth, like nice dinner and everything like that.
But not 10, but I'll have one.
But I'm really leaning back on, I've seen all these super premiums come out, and they're really, really good.
Do we know why they're doing?
Are they doing great the last 12 months because celebrities came out with it and people are clinging to their names?
Are they doing good because during the pandemic, people just decided to start drinking tequila again?
I think Casamigo's kind of changed the tequila dynamic.
I mean, for a while, it was like your high-end was Patron.
And once you cross that barrier to Casamigos, all of a sudden it was like, oh, wait.
Exactly.
And so people like stop and say, wait, that's the cool thing.
Adam, are you drinking that coffee?
And nobody intentionally or no.
Sorry, I apologize.
Nobody talks about Patron these days.
Have you noticed?
Patron was like a rap.
They do, but it's not at the level of what's happened.
And I agree.
Yes.
It's become the mixer, right?
Right.
It's what you're talking about.
Patron lived right here.
His beautiful house around right Hillsboro area, Island Beach.
Yeah, beautiful area.
Danielle, you're a Chardonnay gal.
Am I wrong?
I am.
I keep Napa in business.
Oh.
I do.
Really?
I was married in Rutherford.
Wow.
So I'm into Carnaros specifically.
Our second girl was conceived on a Napa trip.
We didn't think about it.
That might be more information than we could require Tommy.
That's why I'll tell you why.
Yeah.
Talk about that.
After that, man.
No, no, no.
That was like teeth pointers in the procreation department.
Your wife is probably watching right now saying, baby, you started good, but now it's embarrassing.
No, no, no, no.
Conceived and Napa.
This was after the Uber Ride.
After she destroyed the agreed-upon budget for the trip in a single one-hour stop at Cakebread.
So it was all the Tom.
The sentence that she destroyed.
I was ready.
I was thinking you're going in a different direction.
No, but it was amazing.
Let's stay appropriate to the city.
Let's stay appropriate.
But cake bread's an exception.
Last question before we move on.
That's a budgetary exception.
You know what he just reminded me of.
Have you ever seen the movie Four Christmases where, you know, Four Christmas with, who is it?
Vince Vaughan and is it Rhys Withers?
Reese Withers.
And then he goes to his dad's house and says, that's Denver.
That's Dallas.
He says, our parents named us after the city they conceived us in.
So you just kind of made me think about that.
But there's no correlation there because there is no such thing as a city called Bailey.
Or there is Berkey, though.
But it wasn't Brooklyn.
Bailey is making it.
Maybe you were drinking Bailey.
Yeah.
Anyway, I'm lining up with the Chardonnay thing because I'm married to a Chardonnay officer.
You're not a tequila guy.
When you do, I was a tequila.
I was a tequila guy.
Give us a little insight to what you drink.
I was hardcore tequila guy in the army.
Every weekend, we'd finish one of those small Jose Cuevos on Friday and Saturday for about a year and a half straight.
And then eventually I couldn't even stand the smell of tequila.
Couldn't even stand the smell of tequila.
And now you'll drink what?
Old-fashioned is what I'll do.
Maybe one.
Maybe one is what I'll do.
Yeah.
But I used to like Blue Moon.
I used to like Blue Moon a lot.
Tom and I would have a lot of Blue Moon together.
But yeah, I'd probably do old-fashioned today, and that's pretty much it.
Jose Cuervo, nobody talks about Jose these days.
Unless if you're in the military, they still talk about it.
Joseph's not going to be a good person.
Jose is not going away, just so you know that.
Jose's not going to be going away anytime soon.
It is like a wild drink.
But anyways, speaking of – It is like a wild drink, even the 1800s.
Yeah.
It's like that was the old super Patron.
Let's stay on the West Coast, okay?
Because what's in the water in Seattle already?
I mean, Uber billionaires getting divorced.
I mean, what do you think about that?
What do you think about this?
Because obviously a part of it is Bezos.
You know, Bezos gets cool with McKinsey, but what do you think about this one?
So Bezos, I understood, right?
Because when they split up, Bezos was always known until he kind of changed his ways as being the least charitable multi-billionaire on the planet.
That he just wasn't philanthropic at all.
And so when he and his wife split up, she immediately starts to give billions and billions of dollars away.
She marries a teacher.
She's humble pie.
You understand where the tension in that marriage was.
That makes sense.
Yeah.
I don't get this.
I don't get, I don't, I, I don't, I don't, I mean, you're talking about Bill Gates.
They are a, and they're going to continue.
Melinda and Bill Gates are going to continue to run the foundation together.
Have you heard all the different speculations and stories on why it is?
Like, have you heard, well, he had a girlfriend that he's been going and even the girlfriend, he asked approval to marry Melinda and this girlfriend, him have a place that they go see every year that's a secret hiding spot on New York Post story.
And then there's other stories like that.
So what's in the water in Seattle?
Didn't Bezos have somebody on the side?
Bezos was with that girl that Tom Zinner knew.
What's a Latino girl?
Yeah.
She's a you would recognize the Reina Sanchez.
She was married to the president.
I think her last name is Sanchez.
Because it was Melinda who filed for divorce, not Bill.
Lauren Sanchez.
Lauren Sanchez.
That's what her name is, yes.
What did I say?
Lorena?
She's the helicopter pilot, by the way.
Orville.
Orville.
Yeah, Avril Lavant.
So let's get into it, Pat.
I feel like there's a lot of stories.
But you want to talk about gates?
Let's talk about it.
We'll get in there, but I don't know if you want to read the list of stories today or talk about gates.
No, I think we go to the jobs.
I think we never finished the jobs because you were concerned about the definition of sapiosexual.
But tell us about what's going on with the job market.
So the job market right now is hot.
We have an under-supply issue in America that is being largely driven by China.
China's got they're sitting on tons and tons of steel.
They're the world's largest steel producer by a magnitude of 10.
It started with the Trump tweet that started the trade war that really pissed him off.
And then comes the coronavirus.
So what started with the supply chain disruption has become a disaster for American manufacturers.
They cannot source enough supply.
So they're going to hire cost U.S. manufacturers to get these supplies, and they're trying to ramp up production.
And they can't.
You see, Ford has shut down production lines.
Chrysler has shut down production lines because they can't get the semiconductors.
And who's flying jets towards Taiwan?
And who controls the world's semiconductor supply?
China.
And Taiwan.
Taiwan Semi.
So it's.
Taiwan is huge.
It's really.
So, yes, there's a lot of demand right now in the United States for jobs.
There's also 8 million people that we know have not had their jobs come back.
But there's also this massive skills mismatch.
Because if you're Joe Q, who used to work at name a retailer, JCPenney, Macy's, that's been closed.
You've got a certain skill set.
You're not going to pick up and go work in a factory.
It's just not going to happen.
And you're getting paid a lot to sit at home between $17 and $20 an hour.
How sustainable is this?
How long can we go like this?
As a capitalist country or a socialist country?
If we're in socialism, we can go on like this forever.
We can just pay people to not work.
Just keep printing.
Just keep printing the money.
Is that sustainable, though, to keep printing money and pay people not to work?
China hopes it is.
China thinks it is.
China hopes.
Hopes.
Hopes it is in America.
Yeah.
They want to see us bury ourselves.
By the way, with socialist policies, I mean, the irony, it's inescapable.
But right now, it looks like we're going to see 998,000 jobs.
Two months in a row, basically, of a million jobs created in this country.
Huge, huge, huge numbers.
What kind of jobs are these?
Are these good jobs, good paying jobs, skill sets needed, you know, four-year degree jobs, or are they entry-level?
No, no.
Right now, job openings for people with the least amount of education are up 60%.
Okay.
Opening.
Job openings.
Openings.
Job openings for people with a college degree, they're up maybe four or five percent.
Get out of here.
Oh, yeah.
Okay.
But most of those people didn't lose their jobs.
Remember.
They're doing fine.
They're okay.
They've kept their jobs.
Or they got replaced at another place.
Right, right.
They worked from home.
And now the people who do have requisite skill sets are, like at Google, are saying, I'm not coming back in the office.
If you force me to come back into the office, there's so many jobs out there, I'll quit.
Well, Danielle, a question for you.
By the way, just an FY.
What she just said right there is very accurate.
In interviews, people are saying that right now.
Yeah.
Well, we're interviewing people.
You know what I'm talking about.
We'll sit there and we're interviewing people, engineers.
They'll say, look, I got five offers right now.
I can work from home three days and two out of office.
Are you guys willing to match that?
Yeah.
And they're very confident about asking that question.
They're not like sitting there, hey, will you please do this now?
They're like, look, here's what I'm expecting.
Three days home, two days at the office.
This is a cushion.
Depends on the job and the sector.
I mean, some of the jobs you have no choice but to want to do it because that's becoming the norm in that industry.
But some of the jobs, you got to be at the office.
Yeah.
There are some jobs that are coders, engineers.
You know what?
We'll work something out to make that happen, but not every job.
Yeah, well, you know what?
This is my question.
Jamie Diamond just drew the line.
I saw Jamie's story.
Jamie Diamond said, I'm getting rid of.
He said, I'm canceling every single Zoom meeting I got.
Let me read that story.
I'm going to read the Jamie Diamond story because you just gave me a couple different things that you went into.
One is yesterday I had an hour conversation with Noam Chomsky, by the way.
One hour conversation with Noam Chomsky.
Yeah, very, very interesting.
Very socialist.
Yeah, world-renowned 150 million, 150 books he's written, 60 years professor at MIT.
And we went through capitalism.
I asked him, Do you love America?
He says, What does that even mean?
Do I love America?
I love my kids.
I love my wife, but I don't think one can love America.
I said, Well, are you grateful for what America did for you and what you were able to do?
Yeah, why?
So, what do you look at when you look at some stuff?
He says, My philosophy in life is to look at how things are wrong.
I look at things that are wrong, not right.
I said, So he says, I'm not the guy that likes to go to parades.
I said, So you prefer protesting over parades.
So we went back and forth with that.
It got pretty heated.
And then I. Wait, how do you not love your country?
Oh, you don't need to ask me that question.
I don't even begin to understand that.
Well, you have to see the interview to see how it went.
Because at the end of it, when I asked him about an interview with him and Thomas Sowell, I said, Look, a lot of your followers would love to see you and Thomas Sowell.
And it's been said that that's been avoided.
He says, Well, I don't really like his writing.
I read some of this stuff.
I'm like, You don't like Thomas Sowell?
He said, I said, Why don't you do it for the people?
Why don't you guys do a debate?
He says, Well, you already know how busy I am.
I said, I don't know how busy you are.
I said, Everybody's busy at this point.
Why don't we do it?
Nobody's too busy to talk about it.
And I told him, I said, If you do it, I will buy a thousand copies of any of your books and we'll send it to our listeners.
$25,000.
What do you want me to do?
Any of your books?
I'll buy a thousand copies of it.
Well, you saw how hard it was for us to get you.
I said, We just asked you a couple months ago.
I said, No, you've been trying for years.
I said, I don't know if we've tried for years.
So, anyways, long story short, it's a very interesting interview coming up, but he was talking about the concepts of socialism and you know, the businesses, these people that are tyrannical leaders like the Gates and all these other guys, it's the people that build the companies.
Anyways, here's where I'm going with it.
Where you know, Tom's famous line yesterday, Pat, is this?
I got to hear three stories before your point.
So, I've been following Forbes ever since a China investment company bought Forbes.
Okay, they own 95% of Forbes, a Hong Kong-based investment company bought Forbes.
Forbes has historically been a what?
A pro-capitalism, pro-freedom, pro-America magazine.
I don't know if you've been following their post the last six years.
There is like I don't read the Fortune magazine, but I will go Forbes.
We subscribe to Forbes, we don't subscribe to Fortune, right?
Steve Forbes.
Yeah, that's right.
Now, when you look at it, now when you look at it, yesterday, Tom made such an interesting comment.
He says, I said, Why the hell is Forbes supporting some of these comments that, hey, socialistic ideas and edifying and building up certain characters they would have never built up six years ago, seven years ago, right?
Then you look at it, 95% they own, 5% they own.
He says, China would like Americans to believe socialism is good while they go in a completely different direction.
They don't care whether it's good or not, they just care that it divides America.
I don't know if there's truth behind it or not.
All I'm saying is the fact that I think it's more fundamental.
They are U.S. politicians are playing the short game.
China's playing a long game.
100%.
And China's like, we're going to use capitalism quietly in a communist regime.
We're going to employ capitalism to overtake the United States.
And we're going to encourage socialism in the United States so that we can weaken it.
So it's an easier way to do it.
It's brilliant.
Brilliant.
I agree with you.
And by the way, I give him credit for it.
Hey, Taiwan is not a 70, 70, 70-year grudge match on the make-good that they think it's their territory.
You know what Taiwan is?
Semiconductors?
It's an enhanced market share play on semiconductors.
Because if they assimilate that, they get more market share on semi.
They get more market share on textile manufacturing.
There is a ton of stuff that you look there.
They want to assimilate this.
Yeah, it's political, and yeah, they got the planes flying overhead and this kind of militaristic and stuff.
But really what this is, this is market share of Western manufacturing.
And it is so targeted.
And the Chinese state has been pouring money into domestic semiconductor manufacturers on the mainland.
And they fully intend to have, between Taiwan and China, they fully intend to control the world's semiconductor supply.
While Biden's like, well, we'll consider $50 billion.
And I'm like, yeah, good luck with that.
Yeah, I mean, it's...
Good luck with that.
What do they control right now?
The production of any pharmaceutical industry is coming out of China.
You hear 80%.
Some say 60%.
That's a big number.
What else are they controlling?
Telecommunications.
Huawei's got a third of the world's telecommunication equipment is one company, Huawei.
And they're at the forefront of robotics because they have to be because their one-child policy is backfiring.
So their population is beginning to shrink.
But they've known this.
They've known this for a long time.
They see the data.
So they're at the top of robotics.
Let me get the mic a little closer.
Audience is saying they can't hear me cook.
So they're at the top of the automation chain because they know they have to replace their own people.
And that puts them at the front of artificial intelligence.
And think of the control that they can have.
Think of the control that they can have over the global economy.
Germany has tighter economic ties with China than Germany has with the United States because they export so much to China.
And when you think about World War II, I know it's a long time ago, but the world is split along lines, and they're always economic lines.
And are you allied with China, who butters your bread, or the United States because they've always been your ally, your friend traditionally, in a post-World War II regime?
So, but again, money talks.
And your third story?
No, the world's at war.
I'm limited to two today.
I'm working on myself.
I'm getting up here.
I believe the world is at war.
We just don't see it that way.
And right now we have producer-supplier wars, and the only difference is we don't have a bunch of poor serfs with pitchforks being led by the knights as one king fights another king.
But we are in the middle of producer-supplier wars on a global basis, and we just don't understand or see it that way.
I'm going to throw a statistic out there that's going to give you an idea of how much America has changed.
Okay.
When the boys went off to fight World War II, all right, they were leaving a country that had been decimated by the Great Depression.
They had seen, they grew up in the roaring 20s, and the average age of a GI in World War II was their early 20s.
So they enjoy the roaring 1920s heyday when they were children.
And then through their teenage years, when they're so impressionable, they're in the Great Depression.
They come back and World War I veterans, they gave a train ticket and 50 bucks.
And there was awful unemployment among World War I veterans.
Shame on the country.
Stain on the country.
The politicians, when they were coming back, said, we're not going to do that to our veterans.
We're going to take care of our veterans.
They came back.
Part of the GI Bill, we had the biggest college acceptance.
We had the best birth rate in the world, the baby boomers.
Boom, boom.
Homeownership went through the housing was massive.
This was all VA and this was paying to go to college and this was assistance getting into homes.
There was a huge aspect of the GI bill that was for unemployment.
Only 20% of those funds were tapped.
The boys came back and they refused to take the government's money because they loved their country.
They want it to work and they want it to work for it and they want it to get an education.
If they were going to get help, they were going to get help getting educated, not sitting on their ass.
And look at where we are today by comparison.
It's crazy.
You know what's crazy she's saying that?
Let me tell you.
I had a $26,000 GI bill.
Never used it.
I got a couple thousand dollars.
I stopped.
So we had friends that you just had to take like six courses or two courses, whatever it was, and they would send you to $1,200 every month.
Whatever the course was, it was, you know, you could, so guys weren't working and they were just taking a GI bill that would come to you.
And then there were certain people that are like, nah, I'm good, man.
I'm going to go out there, you know, do something else.
But I can see that pride level of, you know, being high then.
But today, man, it's, it's, you know what I said to the guy?
Here's what I said to Noam yesterday.
I'm just, all night I've been thinking about this conversation.
It's so, I said, I said, Noam, let me ask you a question.
I said, I read your books.
I watch your documentary.
He has a new documentary that came out, Requillum of the American Dream.
I may not even be pronouncing that word right.
Requoyum, right?
Requoyem of the American Dream.
And so I said, if I had 100 students that knew nothing about America, they don't have an opinion about America.
Like imagine if you took me at 18, I don't really have an opinion about America.
I wasn't a guy that paid attention in history class, 1.8 GPA guy.
I'm not like, all of a sudden 21, I started reading books, right?
I said, if I give you 100 students that went into your class and you taught them, by the time the semester is over with, they're going to hate America.
They're going to hate America.
You asked him that question.
I said, because I said, everything you're talking about, it's like, you know, going, and you know what was the scariest part?
Here's the scariest part.
60 years he's been a professor at MIT.
God.
60.
So imagine 60 years of saying his philosophies.
So my brain went to my son, my oldest son, wants to be a scientist.
So guess what I'm selling him on?
MIT.
MIT.
So I'm saying, you're going to go and be taught by what the hell is a person trying to keep.
I'm not saying it's everybody.
I'm not saying it's everybody.
But by the way, I mean, A, I took Noam Chomsky to task in my book FedO.
B, at the root of the rot at the Federal Reserve and this idea that we can print all the money is what we call the MIT mafia.
We call it the MIT mafia because of how economics is taught, how people are brainwashed at that institution that is considered to be one of the best economic institutions in the country.
The other one, did you mention Thomas Sowell?
Did you mention Stanford?
Of course.
The opposite end of the intellectual spectrum.
And we need a lot more of them at the Fed than we need the MIT mafia.
Well, you've seen the painting I have in my office, the one with Milton Friedman in there.
You'd be amazed how many people come and say, why would you put that guy on there?
All he cared about was profits.
All he cared about is profits, right?
You know, the whole thing, but Milton Friedman, the black guy he gets is the fact that all he cared about was profits.
But we need more Milton Friedman.
If anybody, you know, like Ricky, you've seen Ricky's passion?
Of course.
Ricky, prior to working with us, never followed capitalism.
He wasn't like a capitalism guy.
Ricky was a guy that grew up in a Mexican, you know, what do you want to call it, Michael Con.
Cartoon.
You know, I don't want to say, but, you know, he's been in the whatever levels of his family, very powerful family.
He's been around that for a while, right?
He openly talks about it himself.
You know, it's the first video I told him to watch.
I said, if you really want, but I said, I'm going to give you a video to watch, but be very careful.
He says, what's that?
I said, if you watch one, you're going to go down a rabbit hole.
You're going to watch 100 of his videos.
What about Milton Friedman?
Milton Friedman Phil Donahue when they talked about greed.
And he told Phil Donahue, he says, what do you say about all these rich people that are so greedy and all they care about is money?
And then Milton Friedman said, you know, it's always the other guy that's greedy.
You're not the one that's greedy.
It's always the other guy, right?
Always the other guy that's greedy.
We forget that we're greedy.
You're telling me you're not greedy, Phil?
People here are not greedy?
Who's the only one that's greedy?
The government that's greedy?
Nader's not greedy?
I'm sorry, but you're being little too naive.
That whole part when he had the exchange.
If a person wants to learn about economics, go down the rabbit hole of Milton Friedman.
Look what will happen to your brain a month later.
Then go listen to the opposing argument and try to put those two together and see what happens.
Yeah, I mean, to me, all I thought about is if kids are going to school and that's going to be the influence of like if a regular kid was sitting there saying, why would you love America?
You're supposed to love your family.
Why would you love America?
Why would you love this?
Why would you love them?
I'm like, oh my gosh.
So, anyways, I think there is a major shift on the way kids are thinking.
And I hope it doesn't go in the direction because yesterday I was in our Armenian podcast.
This girl named Sona was interviewing me, very professional.
She's been in a media site in LA for a while, you know, done some interviews, Larry King, all that stuff.
Very attractive and very well spoken, but specifically on the Armenian side.
And we were talking about media.
She's asking me all these different questions about media.
And what about Armenians, this?
What about Armenians that?
And I said, look, you have to realize what's going on right now with education.
She says, Armenia, you know, do you have any opinions of what happened?
I said, Armenia got bought by China.
China put $14 billion into Armenia.
I said, you realize once you do that, you're owned by China.
So China's going around slow.
You know, yesterday, a couple of people on Chinese, what do you call it, government, went out and tweeted.
You read the story that they went out, their own Webo, not tweet about India making fun of India.
Look at India.
They're doing 400,000 cases.
The government officials are making fun of India while India is going because India doesn't want to go and bed with China.
So they're taking shots at them.
India's telling China we don't want you.
And look what China's doing.
You don't want us?
No problem.
They have a vaccine shortage?
No problem.
Look at the way they're controlling the vaccine shortage.
Where is it coming from?
This is a very interesting game plan these guys have put together for the last 30, 40 years.
And FYI, one guy said something to me, says, this is nothing new.
This has been going on for a long time.
This is Chinese.
You forget this is not a 200-year-old nation.
This is thousands.
They're experts in war.
What are you talking about?
They can do a clinic on war.
If you study that part of the world, India and Australia and New Zealand are kind of isolated economically.
And China is everywhere else.
You think eventually somebody's going to get elected in India and they're going to cave in, you know, do business with China and take money from them?
It depends on where we are.
I hope that never happens because I think if there's one country that is the one China doesn't want to see Excel, I think it's India.
It's because of the demographics.
I think it's in 1.3, 1.3, what is the number?
1.2?
Is it 1.2?
It's the only country that has a larger population than China.
Yeah.
So of course they.
See, that's the same thing.
China and India, that's like half the population of the world.
If they figure out how to, at this point, what has India figured out?
They got the best engineers.
They produce some of the best engineers.
They do, but they don't have his infrastructure.
They don't have infrastructure.
That's the problem.
Yeah, I agree.
But that's, I mean, hello, we're the United States of America.
I mean, we can't build roads here, but we can help them build roads.
Don't hit the infrastructure button.
While we're on the topic of China and everything that Danielle talked about, you actually, your story with the World War I and the World War II, the vets come in, it's actually the timeline of that.
It's actually amazing because it kind of culminated in the late 50s, early 60s.
And that's probably why JFK said, don't ask what your country can do for you.
Ask what you can do for your country.
So it's interesting that that culminated in that.
And that was when we had the space race.
I mean, I just, I got goosebumps when you said science and MIT.
If we keep this space race going, then we'll figure out income inequality if we can get rid of the teachers' unions that have just about, I mean, if anybody doesn't understand that post-coronavirus, that the teachers' unions do not have the children's best interests at heart.
Thank you.
Unpack that.
Look, I live in Texas.
My kids have been in the classroom every single day.
Social distancing, masks.
Be careful every single day of the school year, my kids.
There are blueprints all across America for how to do this.
All you need is one school to get it right and then replicate.
That's all you need.
And yet you've got teachers' unions in Chicago, Los Angeles, New York, holding out, holding mothers and Mr. Moms.
Absolutely.
I have to be careful about that.
I get slaughtered by the dads who are like, I'm the dad at home.
I'm like, okay.
But keeping half of the income out of the household because one parent has to be there to supervise virtual learning.
And it is, I mean, if we cannot figure out how to put, and this is something that people can do, by the way, there is this thing called the Constitution.
We don't have to wait for the Democrats and the Republicans to duke it out.
We can get rid of collective bargaining via the Constitution.
We forget that we have that.
We can get rid of term limits via the Constitution.
Hell, you have to dust off the politicians in Congress right now.
They've been there for so long.
But there are things that can be done in this country with the Constitution by the people for the people that don't revolve around politics that's broken.
But teachers' unions have to go.
When you think of the space race in the 50s and the best era in this country, we were sending somebody to the moon and kids were waking up and saying, I want to be an astronaut.
And their parents are like, you want to be an astronaut?
You better study your math.
You better study your science.
But they wanted that.
They had the desire.
So I'm watching the modern day space race today and I'm like, go for it.
You can't tell children to get excited about math and science, but you can show them.
And they can want to succeed.
And if we start homegrowing our brain power, as opposed to importing it into our graduate degrees, graduate programs, and then re-exporting it to India and China, think of what we could do as a country.
But you got to get rid of the teachers unions first.
Daniel, with the space race, though, I feel like in the 50s and the 60s was such a new thing.
Are you kidding me?
We're going to space.
Like, what?
Like, mind blown.
Now it's like Elon Musk did another rocket today.
NASA did another thing.
It's so, we take it for granted.
Like, I don't feel like it's that, it has the allure that it had when it's such a new thing.
Look, how many, before, prior to 1960, how many people had been to space?
Zero.
Now, a lot of people have been to space.
500-something people.
Look, I'm not downplaying the importance of going to shape.
I'm all about American units.
You had a man crush on Musk.
I love the lifestyle.
I'm just saying.
I don't think that's.
Now you got Musk and Bezos having a war.
And then when it was a great question, I think that's great.
And then it's so trivialized that Musk will tweet at Bezos like, oh, look who can't get it up.
wink wink like it's it's because he's a comedian No, he'll be on SNL this week.
I disagree with this.
I disagree with this.
And I'll point you to two things, and you can go look at the ratings on TV with the interest of America and people around the world.
Disclaimer: Father's a rocket scientist.
You just offended him.
So I just want you to know.
Back up.
That's correct.
My mom's dad, my grandfather, was a machinist making machine parts, Southern California, aerospace industry.
He was just a machinist, blue-collar.
But he was making parts for his important stuff.
My dad, yes, was a rocket scientist.
I'm sorry for offending your dad, the rocket scientist.
No, no, it's okay.
It's okay.
Screw you.
Mr. Hammy.
He says with a smile.
So there's two things that you saw.
One was, and it goes back about, this is like six years ago.
Remember when the Red Bull stunt guy, Felix, went up to the edge of atmosphere and jumped at the highest skydive, all that?
Did you see how many people were watching that and how interested they were and all those things was going on?
There was nothing going on but him talking to the guy, going all the way up, up, up, and then he did it.
The second thing is when Elon Musk, just what was it, four months ago, brought the two first two astronauts back, astronaut Dave and astronaut Bob, whatever they guys were.
Remember those?
Astro Dave, Astro Bob.
And he brought them back and they landed and they showed them picking the ship, picking up the capsule.
America was enthralled.
Wow, somebody other than NASA pulled this off.
Go look at the ratings on that.
I don't think you're correct.
I think there's a lot of interest in what's going on there and that people are pretty amazed at the stuff that's happening, whether it's NASA or I mean Musk.
What percentage of the country was interested in that story?
Give me a number.
What percentage of the country was interested in that story?
I don't know, but the ratings were huge.
Okay, but just give me a percentage.
And this is a very qualified moment to say, what the hell is your point?
Where are you going with this?
100% of the country was interested in 1960.
Maybe it's 20% now.
Oh, my God.
Look, get to science.
On all the trading floors on Wall Street, when they landed the probe on Mars, CNBC, Bloomberg, everything turned off.
We watched that landing.
I mean, I just got space.
Add this to your list.
We need it for the future.
Why haven't we been to the moon since 1960?
So tell us, when you were in high school in the 1960s, what was it like when I got to tell you?
He's not going to experience that Sopho Sapien thing.
I think you just want to be an astronaut in the ocean.
That's, I think, what you're trying to do.
I'm trying to get out there.
Oh, I get to swim at some point.
Very cool.
I just, I think it was.
It's a bigger deal in the 60s than it is today.
What I think she was, the point she was trying to make is to get kids to dream again.
Yes.
Let's go do the impossible.
Whatever the hell is the.
I talked to Dr. Is it Michi Okaku?
I may not be saying the name right.
You know who he is?
He's a theoretical physicist.
He's like one of those.
Let's go.
What's the French pronunciation of his name?
Listen, I'm going to butcher it if it's English or whatever it may be.
I actually think I got that one right.
Michi Okaku.
The other one I totally butchered.
The Asian guy.
Yeah, top 15 favorite interviews of all time.
Favorite interviews of all time.
Top 15.
Stop, stop, stop, go.
So I'm talking to him, and I said, so tell me, is there a civilization out there?
At this point of the game, we know there's a civilization out there.
I said, you said once, you know, let's stop trying to find out about them because if we do find out about them, what if they are 10 times more powerful than us, right?
And I said, okay, I said, so here's a question for you.
He says, I said, do you think there's a twin of America in, you know, not America of the Earth out there in space, another Earth out there?
He says, I'm willing to bet there is.
And what's scary is they may be millions of years ahead of us.
You know what I said?
I said, I don't think that's possible.
He says, why do you think that is?
I says, you think, you really think this thing's going to continue?
I say, you don't think there's an end time to this?
He says, what do you mean?
I said, you don't think, you think like we're going to go the way we're going right now and not one insecure, crazy, offended.
I said, what happened in Germany?
Do you remember the guy with the weird-looking mustache?
Do you know half the story why he did what he did?
It's because he was offended because somebody offended him.
So he kept that grudge for a long time.
What are you going to do if another kid comes and gets offended and he keeps it for years and all of a sudden his vision is to destroy everything?
You think, he says, well, that's level one.
You're thinking about this.
I think the internet's going to do this.
Then we talked about whether we can time travel.
He says, that's a possibility.
He says, this is how you do time travel.
But you know how it sounds crazy.
Think about it.
If you sit there and say, you know what, I want to go to 1985.
Okay.
And then he explained how to go back in time.
He says, because if you go back in time and you save one of your parents from dying or something, now you're messing up with the future and all this stuff.
He says, then you're going to go into three dimensions.
Listen, honestly, I felt like I was on LST and I was on no drugs at that time.
Have you not seen Ant-Man?
Yes, of course I have.
I have.
But the whole thing is, look, it was like, it was like, how do I describe this to you?
It was, what was the word that we started off with?
The sexual.
Oh, the sapiosexual.
It was honesty porn for sapiosexual community.
That's what it was, okay?
That's a good way of putting it, right?
That's what it was.
Because you just listen to this guy.
Like, oh my gosh.
Now, can we time travel?
I don't know.
The fact that somebody thinks we can, that's exciting to want to go out there and do the impossible.
So, Adam, to the community of people that party with you in Miami that could care less about what we can invent, we respect them a lot.
We salute them tremendously.
But to the other community that wants to find out what the hell is in space, I applaud them to go find out.
I'm actually very curious myself.
I agree with you, actually.
Yesterday, Bezos, since he can't get it up, they announced for $200,000 they will take you to space and allow you to have a view of what Earth looks like from space.
We ought to finance you going and seeing what it looks like from space.
I think the four of us should go.
Are you down for it?
I'm down for it.
Are you kidding me?
Game.
Game.
If we finance it, you're willing to go.
Beyond, yes.
So let me get this straight.
You're not willing to go do street guys, you know, street on the, what is the, the, the, the, go-to-street interviews in Colombia.
In Colombia, but you're willing to go to space.
Yeah.
You feel safer in space than Colombia.
These days, maybe, yeah.
All right.
I have to applaud them.
I got a lot of respect for you with that.
I'm all about space.
I just don't think a lot of Americans care as much as they did in the 1960s.
Well, what she's saying is they should.
I agree with Danielle.
Adam, Adam.
You should have missed my point.
I agree with Danielle.
I just think.
Folks, do you agree with Adam or do you agree with Danielle?
If you agree with Danielle, put thumbs up.
If you agree with Adam, put thumbs down.
We're curious.
I'm on Team DDB.
You are anti-space, learning about it.
And we understand that there's a community for it.
By the way, somebody here said the most, they said, no wonder he's soy boy.
The two cats validates it.
You're getting a lot of good people today and giving you a lot of love.
I'm good with this.
I could take cats.
Okay, so wait.
Can't hear you.
Wait, we're keeping a list, right?
Yes.
Get rid of the cats.
Not getting rid of the cats.
Get a puppy.
And avoid talking about space.
So I'm talking about your pickup strategy here.
Catastrophic.
I've been on a date with you.
By the end of the show, we're going to have it down and we're going to have the girl's name from Miami because we're going to narrow it down.
Anthony Morris had sent Adam to space.
I'm going.
There you go.
Okay.
So it's taken us 51 minutes to get into topics, but this has been great.
So I have an idea.
I have an idea about what happened with Bill and Melinda.
I got an idea about Bill and Melinda Gates.
Speculation.
I don't know how you're going to do the shortcuts today because it's going to be like all over the place.
But I got an idea about Bill and Melinda Gates.
Kyle's like they all need Riddling now.
Speculation.
Speculation.
Speculation about Bill and Melinda Gates.
I think when the pandemic happened, where people were forced to be around each other, some people realized, I really don't enjoy your company that much.
Okay.
And it's unfortunate because at least when you only see somebody at night or whatever, it's an hour, you can tolerate the person.
But if you're in pandemic, you're in shutdown mode for six months, and you're Bill Gates, who at the time, even though you're not a doctor, you're one of the voices second to Anthony Fauci, that what the world should do.
And your wife, Melinda, is next to you, who's also got a pretty big ego just as much as you.
And you guys are stuck in a $50 million house for freaking six months.
I wonder what those fights would be like.
You know, I wonder what those fights were looking like.
I wonder how annoying they were to each other.
And eventually they're like, dude, I just not being around you anymore.
Well, think about how high her profile is today compared to what it was, say, five years ago.
I mean, she's done so many interviews.
She's become such an advocate for women.
Not even comparable to McKinsey, right?
As far as the voice goes, as far as influence, but they're in different leagues.
And that's why, I mean, I think that she would have never as an influence, not even close to her.
No, Melinda's way ahead.
She's there, I should say.
One of the same people.
She was behind.
She was your opportunity.
The lawyers crafted the tweet.
The lawyers crafted the tweet that they both wrote.
Melinda, I promise you, make sure that they're going to continue co-running the foundation, that co-and they're going to, because she's not giving up her leadership position.
She's got a taste for power, and she's not giving it up.
She's extremely ambitious.
From Ursuline to remember, she's using Bezos's attorneys.
She's using Trump's former attorneys.
So she is in it to win it, and she's not going to give up the power.
You think she called Trump and said, I need a referral?
I'm thinking no.
Can I get a referral, Donald?
We're focusing a lot on her.
Where do you think it is?
No, she is impressive.
Hang on a second.
Melinda Gates is very impressive, and I think she honestly believes in the things she's doing.
She was running a massive division of Microsoft.
Yeah, and also I saw her talking about the Malaria Eradication Project, which one of the first of the Gates Foundation.
There's no question she's a true believer.
And she was a true believer.
I saw her interview.
She was interviewed by Kara Swisher.
And I was really impressed.
I said, wow, there's passion.
There's how, there's when, there's who else I need.
I was like, wow, this is like listening to the business plan for malaria eradication.
I was really impressed.
It wasn't just the celebrity that questioned.
Question for you.
Picks her favorite saves.
She is shut up brilliant.
Question for you, Tom.
Not that either is going to do it, but which of the two would you think deep down inside has more aspirational wanting to become the president of the United States, Melinda or Bill Gates?
I have my own opinion.
What do you think?
Well, if you narrow it down into that question, I think it's Melinda.
I agree with you.
I agree with you.
I think she's more aspirational and more ambitious to want to do something like that.
And he was never a power executive.
He was always a thinker.
And he understood the power of the people.
He's had some meltdowns.
They said some great epic meltdowns.
But he also understands the power of platform.
And so when he and Jobs were together, he understood platform.
He understood monopolistic power.
He understood exactly what he was doing with what became the Wintel standard.
Whereas Jobs was about design, about innovation, about being about being on the edge and not being the reality.
Well, there's a wide age gap between those two as well.
I mean, Bill Gates is 65.
He's in a different place in his life.
He hangs out with, you know, he and Warren Buffett are buddies.
I mean, it's playing Jin Rummy.
Playing Jin Rummy.
Ty, pull her up.
She's probably in her mid-50s.
Maybe a 10-year age.
I think she's 56.
Okay, so there's a nine-year age gap.
All right, that's not that big of a deal.
Did we kai check it?
Yeah, she's a little bit.
Okay.
We're showing Melinda a lot of love, respect.
I get it.
But where's Bill at right now?
Give me a look.
BizDoc, where's Bill's mindset at?
I think he's totally fine.
Yeah.
I think Bill is totally fine.
How can you not be at peace with $75,000?
$60 billion.
But I tell you, $100 billion.
I tell you, it's not even a money part.
There's also an element of imagine their debates.
Imagine Bill's identity.
It's like, dude, I've been the richest man in the world for freaking 30 years until these guys showed up.
You realize who I am?
Like, everybody's been talking about me for a while.
You and I, you were in there day one.
You ran a division.
Great.
We met.
We hooked up.
All good.
Respect you.
You were somebody that did a great job with the company, but I'm Bill Gates.
You know, I am Bill Gates.
I've done a lot of stuff.
The foundation is named after me.
Let's not forget it.
It's Gates.
I know it's Bill and Melinda Gates, but it's Gates is the last one.
He's an OG, is what you're saying.
So to him, his identity, you don't think there's like a bunch of girls out there who are like scientist type of girls that are into social sexuals.
Sepiosexuals who are like, oh my gosh, get me that sapiosexual.
I want it right now.
I mean, there's a big, there's a tender site for sapiosexuals.
What's it called?
I don't even know, but it's a good idea.
What are the chances he just rolls up with like this hot model scientist?
You know what?
That's a good idea.
What the chances he goes down that path.
The underserved.
Wow.
Think about it.
Somebody right now listening to this, run with it and let us know about it five years from now when you go IPO 4 billion.
Nerd match.
Can you imagine that if there's a dating site specifically for minimum requirement to be on this dating side, you have to have a 4.5 GPA.
Like imagine it's like one of those elite, brilliant, genius, rocket scientist type of a community.
If they've got one for farmers, they can have one for sapiosexuals.
Wasn't there one that was a six-figure club ladder where you would travel and meet each other at airports?
What was it called?
Ladder?
It was a dating site specifically for those six-figure and up executives.
That was specifically their market, target market.
That's one way to filter.
By the way, I tell you what I like about that.
It was the whole idea was you're so busy you don't have time to date, which a lot of people nowadays, you're an executive, you're running a gun and traveling, you don't have time to date.
Here's a website.
Find a way to, you know, connect and have a cup of coffee together and maybe, you know.
I mean, look at one of the most popular shows that's been on TV in recent history, Big Bang Theory.
I mean, that went for season after season after season.
Sapiosexuals are a thing.
I think that's a word we're going to use often.
Sapio sexuals.
It's here.
I think it's going to stay like soyboy stuck.
It's stuck.
I don't think it's at that level, though.
It's not.
It's not at that level.
We'll do our best to see what we can.
Okay, let's go into shoot.
We talked briefly about what our buddy Jamie Diamond says.
Let's talk about that.
Go to page five.
Since we've already covered it, let's just get that knocked out of the way.
Jamie Diamond.
Okay.
Jamie Diamond, fed up with Zoom calls and remote work, says commuting to office will make a comeback.
CNBC story.
He is no fan of the new remote work structure that has taken hold during the coronavirus pandemic.
The JP Morgan Chase chairman and CEO has already told his employees they should begin getting used to returning this month with the goal of having 50% of workers rotating through offices by July.
While he's fine with greater flexibility allowed by employees working from home part-time, he said that's no substitute for being at the office.
I'm about to cancel all Zoom meetings, Jamie.
I'm done with it.
But look at the bottom line.
Diamond also said clients told him in cases where Jerry P. Morgan lost businesses to rivals, it was because bankers from other guys visited and ours didn't.
Well, that's a list.
That's through that line.
Wow.
That's the line in the sand.
Tell us about it.
That's the line in the sand.
And the thing is, investment banking is about building relationships.
And I mean, they've discovered on Wall Street that traders can trade from home.
They get that.
Even though there is a camaraderie on a trading floor that, you know, traders feed off of one another.
It's an egomaniacal environment, a trading floor.
But investment bankers build relationships.
And, you know, they're golfing.
They're on the corporate jet.
They're whining and dining.
I mean, mergers and acquisitions have just had the two biggest months in the history of the United States in March and April.
Every merger, every acquisition, there's an investment banker collecting fees behind that deal.
IPOs are hot right now.
There's an investment banker behind that deal.
And he's got the people out wherever it is in the country that you can go out.
And since Corona, whatever, they're going out to dinner in Dallas, but they're physically with the client is what Diamond's saying.
And he's saying, I'm not going to lose market share.
I'm not giving up business.
You know what I like about him?
I don't even know which side he's politically.
I don't know which side he's politically.
Is he center left?
He's he's center left.
Okay.
Yeah, but he doesn't give a crap about telling you how he feels about anything.
And it's not like he's a loyalist to his political party or what everybody on his side is saying.
He'll come out and say, this is bullshit.
This is not working out.
We got to do something about it.
All this progressive bullshit has got to be pissing him off because before the election, he said, I'll hang my hat on Biden, but you better stay in the middle.
You better not swing too far left.
Okay, so question for you.
This has got to be making him mad.
What's happening in the economy, all this?
Because the Federal Reserve is inflating a bubble that's going to come back to haunt Wall Street, and Jamie Dimon cannot like it.
Do you think he's called Biden?
Do you think they've had a conversation about the tax plan?
Give me a break.
He's the most powerful banker in the world.
Fair.
Okay, so Biden and his camp talking about the fact that he's a tax.
He always says, I haven't spoken to that person.
Ask again.
But Biden said to Putin in his face that, you know, I know you're playing all this other stuff, but he doesn't talk to Jamie Dimon.
That's definitely, when he needs to use it, that he talks to the people, he says it when he doesn't use it.
When he hasn't talked to people, he doesn't use it.
But going to Jamie Dime.
If he was talking to companies in America right now, he would know that his policies are hurting companies.
He would know that.
He would know that his policies are causing companies' labor costs to increase at the same time that input costs and shipping and freight are going through the roof.
You're squeezing the hell out of these margins with these companies.
Your storyline doesn't match with what the media storyline is because the media storyline, Biden's first 100 days for stock market best since FDR.
But you know, that's a story like, hey, he's doing such a great job the first 100 days.
34% of personal income was government transfers.
We've never seen anything like the amount of money.
Sure.
But how does stories be pitched?
How do stories being pitched by Marxists?
We're glorifying socialism.
Yes, we are.
Is that who we are as a country?
That's what we're doing, though.
Well, then just bring Noam on.
We'll have Noam on next time.
Noome run it instead of.
Yeah.
But let me go back to the question.
Here's a question for both of you guys.
I want to go with you, and then Tom, I want you to comment on this as well.
So this is my question.
I had dinner with a guy two nights ago who's one of the big estate planners here.
Solid guy, beast of a guy, legit guy.
And we're sitting out, we're talking.
I said, do you think Biden's tax plan is going to happen?
He says, that's the number one question all my clients are calling me for.
I said, do you think it'll retroactively go back to 1-1-2021?
Because that's what they're pitching.
He says, let me put it to you this way: 90% chance it's not going to happen.
I said, Tell me why.
He says, You have no idea what kind of people are calling them because if they do this, midterms will be a nightmare.
So what do you think?
Do you think it will happen retroactively, or do you think it's going to be a 1-1-2022 date?
It's, you know, Manchin's already come out and said he would maybe raise the corporate tax rate to 25%.
Maybe.
But Manchin's your line in the sand.
He's a stud, by the way.
If you don't get Manchin on board, he's your guy.
I mean, that, that, and look, the House of Representatives has a lead of six.
Six.
I mean, the midterms could be a slaughterhouse.
California lost one.
New York lost one.
Yeah.
So, but, but that's, I mean, when you think about how the lines are being drawn and how narrow the margin is in the House, and obviously the Senate's split down the middle with Joe Manchin.
Joe Manchin is more powerful than Kamala Harris.
I agree.
Period end.
I agree.
So crazy how powerful.
How the media is painting.
I'm the first president.
And by the way, when the stock market was rising, it had nothing to do with Trump, and it has nothing, it has everything to do with Biden.
And it had nothing to do with Trump.
Because when Trump was around for the majority of the time, pre-coronavirus, the Fed was basically printing money in the background, right?
And then the CARES Act comes along, and then you hire.
0% interest.
0% interest rates.
When you look at the amount of fiscal and monetary money that's been pumped into this country, it is upwards of 57%.
I'm telling you, China's licking their chops.
They're so excited to see us going down, to use your term, this rabbit hole.
The Chomsky rabbit hole.
Thoughts, Tom?
Well, there's about five things in there.
And the first thing I was going to say about Jamie Dimon is: you know, I become a student of like the banking leads and kind of understand, you know, the story behind the story.
And what he brought up here, you know, hey, I had a market share problem during COVID.
Also, people don't know that on March 5th of last year, Jamie Dimon was basically dead.
He was in his office and he heard what he thought was a pop like a crack of a knuckle.
He calls his doctor and he said he was lightheaded and things going on.
And his doctor said, I think you may have had an aortic tear.
He did.
An aorta tear.
He said, okay, well, call 911.
Jamie, you don't have time.
Tell your assistant to walk you through the elevator until you pass out and get you in a cab and get here.
And he got in a cab with an assistant zipping across New York and they got him in.
And he was open.
You ready for this?
His doctor said that he was.
Was hello Jamie Dimon age?
Doctor said he was open.
In other words, his chest was open like 42 minutes from the phone call he made.
But he said he was as good as dead.
He was a cancer survivor.
And then last year he had two knee replacements.
So Jamie.
So, and by the way, his first day back, and he was doing the kneeling thing, he was kneeling in front of a chase bank vault.
And all the memes were, ah, Jamie Dimon kneeling in front of his favorite house of worship.
But it was a bank vault.
But Diamond has come back, I think, to a human side of business.
So I think there's more going on with Jamie here.
It's market share, but I think there's a human side of it with Diamond and also the fact I think Goldman kicked his butt last year.
I think during 2020, Goldman freaking kicked his butt.
I mean, we all know that they did $2 billion in bonds with the auto industry, which was supposedly Ford.
They didn't say who.
And they said, our guys never left their homes in North Jersey.
The auto guys never left Dearborn.
Oh, Dearborn, I guess that's Ford.
And, you know, they did $2 billion with the bonds.
The relationship wins.
This is the factor.
This wins.
Touch.
And so.
And this is a good thing.
And it's like, where did you guys want to work?
And they say, we all don't want to work in West Palm Beach.
And Goldman moved that bond group supposedly to West Palm Beach, Florida.
Good job.
$2 billion.
Where do you want to work?
How about West Palm income taxes?
Great.
You can go there.
The second thing that you were talking about in all this pump and stuff going in here, you also have to remember what did the youth of America, you know, the educated youth, right?
You had college students that are like 20 to 21.
More of them took their stimulus check and opened up a Robinhood account.
And so you've had stimulus money pumping into the market.
That's called demand, which drives market prices of the Fanga stocks and anything else that they want to invest in.
So I think you also have to understand that the stimulus money for a huge number of people that got that stimulus money went right into the market.
And it also reduced consumer debt.
And so that's artificial.
Yeah.
I mean, if you look at, and I'm going to make a little point about Jamie Dimon, one last point about Jamie Dimon.
I'm getting in the weeds here, but it's kind of critical.
Jamie Dimon has the biggest balance sheet in America.
And when there were issues in overnight lending in late 2019, Jamie Dimon threw his weight around and made life at the Fed difficult, difficult.
And what company was bailed out first with the Fed's bailout on March the 23rd?
Which company was grandfathered in that had been downgraded to junk in Dearborn, Michigan?
Let me guess.
Ford?
Yeah.
First on race day?
Ford karma's a funny thing.
Jamie Dimon showed Jay Powell that he was more powerful than he was.
Seriously.
You know what's really funny about this?
Is he like a modern-day Sandy Wild?
Is he like a modern-day Sandy Wild type of person?
Sandy Wilde said the worst, the one regret of his entire career was not letting Diamond succeed because Citi would be in the place that J.P. Morgan is today.
Oh, yeah.
That's a matter of public record.
Wow.
By the way, props to Sandy for saying that.
Of course.
Props for Sandy for saying that.
You know what the power is?
If you ever lose humility, you can kiss your situation.
In that world, it's a lot of not being able to say what the truth is because you've got to protect your ego.
Good for him.
Big swing and dicks.
I love.
Hello.
I mean, that's the article.
No, no, it's in Liar's Poker.
It's a term.
That was a technical term.
Sorry.
She wasn't talking about you, bro.
Relax.
She was talking about the article from last night.
But, Tom, no, What you say about Powell, there's something that's that I love historical satire that hits the nail on the head.
And The Onion, once upon a time, had the fake newspapers, right?
They look like old, old, old newspapers.
And it says, U.S. Steel relents and grants judicial powers to government.
And it's the days of Teddy Roosevelt, the Trustbusters, and everything.
And I think what you just saw, everybody thinks, oh, ha, ha, ha, that's really kind of funny.
You have to understand it.
The Bessemer Money, Besmer Venture Capital, Boston, U.S. Steel, Carnegie, and all this kind of stuff.
Ha ha.
Great joke for the intellectual.
But on the other side of it, that's what played out with Diamond and Powell that day.
That's exactly what it's like, excuse me.
Huge power play.
There's too big to fail, and there's also too big to with.
Yep.
And so, and Jamie Dimon on that day was too big to with.
But remember, speaking of Goldman Sachs, who was the only bank that was not in the room the day that Lehman failed, Goldman Sachs was down the hall at the New York Fed meeting individually with Timothy Geithner while all the other bankers in America were at the other end of the New York Fed deciding what was going to happen when Lehman failed.
Lloyd Blankfein was already moving way past that.
He's like, if there's another company called AIG, it's coming straight down the pipeline.
I could give a damn about Lehman.
If you let AIG go, it's going to blow a massive multi-billion dollar hole in my balance sheet.
So let Lehman go, rescue AIG.
That's your guy, Ben Moshe.
You know, Hollywood likes to bend the facts a little bit, but there is a...
I was actually at the Federal Reserve that day working.
But there is a big...
There is a...
There is a great scene that's in the biggest.
Oh, my gosh.
It's at the end.
He goes, hey, they're at the White House, remember?
And he goes, there's going to be a bailout.
And this is Hollywood bending the facts and everything.
But there's some truth to it.
There was some exact truth to that.
These guys are running over.
Ford was bailed out.
Ford was bailed out period.
A year ago, Ford was bailed out.
Period.
Again.
And Alan Malali sat there in front of Congress and claimed, well, I'm the only one that didn't come here on a corporate jet.
And he didn't.
Remember Alan Malali, who came to Ford from Boeing and before that?
Yep.
Rubbermaid, I think.
By the way, if you're listening to this, you like this panel, smash that subscribe button.
And I think a lot of Alan Malali.
If you like today's panel, subscribe.
Click that subscribe button and the notifications to be notified the next time one of these podcasts comes up.
But go ahead, Tom.
Finish your thoughts on that.
No, I mean, I think this is absolutely correct.
It's like you have to look directions.
When you turn on the lights, which way do all the cockroaches go?
Right?
And there is a bunch of cockroaches went this way, and there is one that went that way.
Tom, who is the most powerful one today, though?
Like, who calls the shots?
Is it still Goldman calling the shots?
I don't know if it's calling shots or it's influence.
Is Goldman the most influential still?
They want to be.
I don't know what that means, though.
That means that Jamie Dimon was.
The pandemic changed the dynamic back.
It was a huge thing to see Goldman Sachs fall below J.P. Morgan Chase in terms of influence because Jamie Dimon had this mammoth balance sheet that turned out to be a weapon that he could use.
So is Goldman ahead now?
Well, Goldman, to Jamie Dimon's point about we lost deals, he's not going anywhere.
How is Jamie Dimon only worth $2 billion?
What a loser.
No, it's not about what a loser is.
With the amount of control and influence he has.
How much should he be worth?
I think he's got to be a $20.
Sandy was a $20 to $40 billion guy.
He should be a $20.
He would have been a magnificent Treasury Secretary.
Him?
Diamond.
Diamond.
His name was in the running.
Making $200,000 a year.
No, thank you.
He'll go back to running good.
No, I disagree.
I think he's a patriot.
I don't disagree with that.
I think he's a patriot.
I think he would serve his country.
But I think he's in the right place right now.
I think he's in the right place right now.
Diamond is a patriotic moderate, and his left is basically on social issues because he feels he doesn't want to be on the wrong side of history.
He is very predictable, and I think very, very highly of him.
You know, people of faith might say, well, I don't agree with some of the social side of him, but I think he's a moderate patriot.
Yeah, every time I speak up for Jamie Dimon, my Twitter feed just goes poof with all bankers are evil.
Wait, I thought Sandy was a 20.
When you get all the Rothschild Bilderbergers.
Oh, my gosh.
Please don't hit consideration.
We can draw a line from Sandy Diamond back to the Rothschilds and Bilderbergers.
Don't hit the conspiracy theory button.
No, I'm not.
I'm just saying I'm envisioning where these tweets are.
Oh my gosh, yes.
Well, Danielle is all about the creatures from Cheko Island.
She's like all about that.
She wrote a whole book about it.
And, you know, so that we're not going to go there, don't you?
No, we're not.
Let's go to classes.
Let's go talk to the moments in history.
How about before we talk taxes?
Let's please Adam.
Let's talk about Elon Musk.
Let's talk about Elon Musk because I think Elon is inspiring Adam.
I think Adam is gradually also starting to have a thing for aliens.
I don't know why, but I think, you know, gradually, you're talking a lot about aliens lately.
Adam in space.
Yes, I can see that.
I can see that.
It's interesting how you flirt in space.
I think our audience is interested in this story as well.
Okay, let's talk about it.
How many times are you talking about aliens?
Are you going to go back to Elon Musk?
I want to know how many times you're going to rewatch Saturday Night Live.
I know you've already got it recorded, right?
I think Elon Musk hosting SNL is going to be a ratings bonanza.
You know, it's because of him going speculation, because of him going on SNL, Dogecoin is on fire up.
You know, just because they're thinking he's going to mention it on SNL.
But let me read this to you.
Elon Musk arrives in New York City with family, brainstorms, SNL ideas with Paps, with people out there.
This is a TMZ story.
Elama still doesn't seem to know what the heck is in store for his big debut on Saturday Night Live.
And it's even escorted, resorted to asking photo, what do you call it, paparazzi folks, about what skits he should do.
The Tesla CEO was in New York City Tuesday, days ahead of taking the stage at NBC Studios where he'll be hosting SNL.
And the moment he showed his face in the streets, he was swarmed mostly by autograph seekers who shoved dozens of Sharpies and photos in his face.
So one thing on everyone's mind is what he's got in store for Saturday's show.
He regurgitated some ideas he was spitballing on Twitter over the weekend, including Baby Shark and Shark Tank merging to form Baby Shark Tank.
Doesn't seem like he's touched base with SNL staff quite yet.
What do you think is going to happen?
So I don't think we've ever seen anyone like Elon Musk.
Okay.
So traditionally, who were the, we talked about.
The Bezos of the world.
We talked about Gates.
We talked about Buffett last.
We've never seen a multi-multi-billionaire with such a big personality and a weird personality.
All right.
This guy's clearly banging aliens or has fascinations about that.
All good.
But someone with this much money, this much power, Danielle, we can go there.
Pull up a picture of his girlfriend, Kai, just so Danielle understands what we're working with here.
Stay on SNL, Katie.
Okay, well, stay on SNL.
So you had a bet with Kai A couple months ago.
Now pull up the more recent picture.
You had a bet with Kai a couple months ago.
Who would be a bigger draw on the Joe Rogan podcast?
You went with, yes, exactly, Danielle.
Now you're on my team.
Kanye West or Joey?
Kanye West or Elon Musk?
Was it even close?
I won that $10 before the show even started.
Kai, you still got that $10 from Kai.
$9?
Kai bet on Kanye.
You bet on Musk.
Who won?
Big time.
Not even close.
Don't blast Kai like that on TV again.
It hurts his ego.
Well, I don't know.
He's from Norway.
Don't do that again.
He's good.
He's a big boy.
You can take it.
I thought it was Finland.
This guy's got a...
What's the difference?
This is going to be a ratings bonanza on SNL.
I think this is going to be way bigger than any Murphy.
So many Norwegians.
It's going to be way bigger.
So we will hear from the principal of that Norway school that listens to podcasts.
Keep going.
I think this is going to be the biggest SNL episode potentially ever.
Ever.
Because he has a bigger than Chappelle.
Bigger than Murphy.
Bigger than Trump.
Bigger than any of these guys.
Yes.
John Belushi back from dead.
I think it's going to be the talk of the town on Sunday.
Who's John Belushi?
And I think it's going to be one of those car wrecks John Belushi.
I think it's going to be a car wreck situation where I don't think he's actually that funny.
I think he's like, he's got childish humor.
My hope is that he can actually make fun of himself.
Like, it'll go very well if he can embrace making fun of himself.
Maybe he can call up the White House.
I mean, if it worst comes to worst, they can just hook him up to a teleprompter, right?
Okay.
There it is.
If he like makes it.
Can I get a movie somewhere?
Boom.
God.
I think it's going to be a ratings bonanza.
I think it's going to be.
What do you guys think?
What do you guys think?
What do you think about it?
Think it's going to be a letdown?
Or you think it's going to be like, you know how you go to a movie, you're like, oh my gosh, I can't wait to watch Transformers 3 and you're like, dude, where the hell is Shia LaBeouf and Fox?
What's the other girl from Megan Fox?
I need Shia LaBeouf to be back in there.
He kind of like a letdown.
Do you think it's going to be a letdown or do you think he's going to come up and show up?
Yes, I do.
On a 1 to 10, I think it's going to be a 2 or a 3, and it's going to be like the remake of Wall Street where Oliver Stone just peed in the bed.
How about yourself?
I mean, I don't think it's going to be entertaining as much as it's going to be intriguing.
Yeah.
Curiosity.
Yeah.
People are going to just, they're just going to want to know.
You think it's going to be like a car wreck?
Like, everyone wants to see what's going on, but it's not going to be humorous.
For people who worship him, and I mean, he is probably one of the most worshipped people on the planet.
Everything he says is, I mean, hero worship.
He's talking up a joke.
Yeah.
Well, that's why I think Dogecoin is the bubble of all bubbles.
I think it's a complete joke.
It started off as a joke.
It still is a joke, but just people are.
You're just upset that it's a dog, not cats.
So get off it.
Well played.
Well played.
What do you think about Elon Musk on SNL?
What do you think is going to happen?
I think it's going to be very interesting.
I think he is an unpredictable guy, and the world loves unpredictable characters.
An unpredictable character can come up and say anything.
He's going to push buttons.
The question is going to be, who's he going to challenge when the movie, what's the recent movie that came out?
Is it Godzilla in, what is it, Godzilla?
He tweeted about it.
He says, I love this movie.
There was a subtle shout out to conspiracy theorists.
A shout out to podcasters.
A shout out to this.
He likes that.
So I think he's probably going to do something with conspiracy theorists.
I think he's probably going to do something with the number 420, 69, Doge, Bitcoin.
I think he's going to probably touch something to do with Jeff Bezos.
He's going to take a shot at Amazon.
I think he's probably going to take some kind of a shot at possibly Newsome, California.
I don't know.
I think you don't know what direction he's going to go, but a lot of people right now are sitting there saying that.
They should have him do a skit doesn't come up.
They should have him do a skit as an Amazon driver.
Him as an Amazon.
He's amazing.
That'd be hilarious.
This is the kind of stuff he needs to do.
Make fun of himself, make fun of others.
This is a legacy type of thing.
Who would you rather have on SNL?
Him or Bezos?
Who's going to do a question?
It's not even a question.
Oh, gosh.
It's not even a question, right?
I think Bezos.
Although I'd like to see him and Bezos and Amazon delivery van do like Carpool karaoke.
That'd be great.
And I'd like to see Noam Chomsky and Tana Sol.
I agree.
That's what I'd like to see.
I'd like to see that more than I'd like to see the other one.
Okay.
All right, if we cover that.
So are you going to tune in live?
Is it Saturday night?
Saturday night.
You're going to be in Miami?
You're going to be tuning in in Miami?
Maybe.
Okay.
Where am I sat down?
Whether without the cats.
Saturday.
I'm still.
I believe Sunday.
Yeah.
Sunday then?
I'm going to tune in.
I'm going to tune in to see.
Tom?
You tuning in?
Nope.
Bedtime?
What time is bedtime?
It's not bedtime.
I think it's Kim's birthday.
No, it's Mother's Day.
No, that's Sunday.
That's the following.
No, no, no.
We're doing, we got some very big business things happening in one of the other companies.
And so Saturday is Mother's Day.
Yeah, that's our Mother's Day.
Yeah, but you're not celebrating Mother's Day.
We're doing the same here.
And the next day.
We're on the same day.
You and Little Dan Flying.
Yes.
Dylan got a suit yesterday.
I got Dylan moving.
Move Mother's Day?
There's a law against that.
Well, the price for the gift doubles.
So if you can meet that requirement, move it.
Yeah, you can move it.
Oh, look at Danielle.
You can buy Danielle with a.
If I was told you're not going to get one, but two pair of shoes with red soles, I'd be like, sold!
Sold, yes, we'll change it.
One day is all we're asking for.
So anyway, so that's that part.
Let's get to the story of taxes.
I want to do this tax story on page nine.
Go to page nine.
Taxes, taxes.
Mansion, mansion, mansion.
You're trying to talk about SNL.
You want to talk about taxes?
Wealthy may face up to 61% tax rate on inherited wealth under Biden plan.
That's a CNBC story.
61% of her own Joe Biden tax plan, according to a recent analysis.
As part of his American Families Plan, Biden is proposing to nearly double the top tax rate on capital gains and eliminate tax benefits on his appreciated assets, known as the Step Up in Basis.
Combining the estate tax and a new higher capital gains rate, the repeal of step up and basis could bring total effective marginal tax rates as high as 61%.
Are you kidding me?
According to an analysis from the Tax Foundation, the rate would be the highest such rate in nearly a century.
I'll give this to you, and then I'm going to give Janet Yellen update right afterwards.
Go ahead.
Tell us about this.
Well, it's asinine.
There's not really much to talk about.
It's not.
I'm assuming you're supportive.
You're really looking forward to the tax hike to 61%.
Look, we are.
All the great social things we can do together, all the great programs.
But I'm all over philanthropy, but you're going to decimate philanthropy if you do this.
That's correct.
I mean, if you think about the Ford, Ford's come up three times, the Ford Foundation and what it's done in this country.
And so many other family legacies that have done things that the government wouldn't and shouldn't do.
Shouldn't.
I mean, there's always a place for philanthropy, but not with that tax rate.
It's not.
And by the way, did I say China?
I mean, they've got to love things like this.
They have to, I mean, there will be people who leave.
There will be people who get up and leave the country.
Where are they going?
Belize, Costa Rica.
There's a bunch of places out there that you can live very nicely.
I mean, you do have to kind of live off the grid.
Singapore is at the top.
You put Singapore there.
I mean, I mean, Singapore is definitely a place for the wealthy to live.
It's not Hong Kong.
You think people are actually going to leave?
I think that you would have a handful of people who left.
I mean, think about, okay, September the 9th, 1850, California was admitted into the United States.
Okay?
Every single year since 1850, the population of California has grown, dot, dot, dot, until preliminary census data suggests 2020.
There was a 70,000 some-odd net loss of population in the state of California.
You can't tell me that people don't try and flee high-tax high-tax cities, states.
But what if it's the country?
1850 till 2020, it's grown.
It stopped 170 years later, 2020.
Shout out to Gavin Newsom.
Oh, God.
Give me back that electoral vote.
Okay, let's take a vote.
One of you, 57, now 56, or something like that.
Kai, how many did they have?
That's exactly right.
If you look at California losing a seat, that's exactly right.
That's exactly.
Major Williams needs to use that stat right there.
Major Williams needs to use that stat right there.
Shout out to Major.
Speaking of your man crush, where does Elon Musk hang his hat?
Austin, Texas.
That's true.
In Boca Chica.
Boca Raton, Boca Chica.
There it is.
But think about it.
I don't think anyone's moving to.
When you said a handful, are you literally saying a handful?
Like, how many people are leaving the country because of this?
Genuine question.
Who's going to Singapore?
Some people are going to Puerto Rico these days, but that's still part of the country.
Some business models you can move.
Some business models you cannot move.
Eduardo Savarin.
True.
Some people are moving to Puerto Rico.
Like, hey, Pat, come to Puerto Rico, be part of the 420 program, pay only 4% taxes for 20 years.
Our model doesn't work.
I wouldn't be able to go over there anyways.
But I know a lot of hedge fund managers who've gone there.
Sure.
I know.
And that's all they need is a computer.
That's the difference.
Certain jobs you can.
I pay taxes in every state I'm appointed in.
I'm still paying tax in California.
Every quarter they come, hey, Pat, here's the cut to taxes.
Check, You know what I'm talking about?
I'm not saying it's the right thing to do.
And by the way, it's, I mean, talk about the midterms.
I mean, if they try and raise taxes to this extent, the midterms will be even more.
So you don't think it's going to go to 61?
You don't think this is going to pass?
I can't see it happen.
I can't see Manchin letting it happen.
So are you familiar with the Reagan Tax Act, what was it, in 1986?
Do you know the numbers on what he did?
Yeah, David Stockman, trickle-down economics.
But do you know what he did?
Do you know actually the numbers what he did?
No.
Do you know the numbers what he did?
But I know the capital gains change released dollars that ran into both philanthropy and venture capital as a historical fact.
So he brought ordinary income.
Kai, help me out here.
He brought ordinary income from 50 to 28.
He raised the lowest marginal tax rate from 11 to 15.
Okay.
And he brought capital gains to 28.
Everything was 28, 28, and the lowest went from 11 to 15 is what Reagan did.
And it passed, right?
And obviously, a couple years later, they'd have some changes to it, but he brought from 50 to 28.
To go to 61% here, I mean, this is catastrophic if this passes.
If it passes, say it does pass, if it passes.
You're talking about people leaving to another country.
You know, when I hear this story about people leaving to another country, it reminds me when Democrats said, if Trump gets elected, I'm moving to Canada.
Okay.
Look, I'm not saying it's the right thing to do, and I'm not saying that big names will do it.
But the head of the state, some podcasters, some engineers, some coders.
I'm saying people, people who have enough wealth to care, but they can do their job, as you say, anywhere.
Bulken, I'm out of here.
Yeah.
60%?
That's nuts to be thinking about that direction to go.
Let me read the Janet Yellen story right afterwards because I know you're a big fan of hers.
Janet Yellow.
Brought to you by Maybelline and CoverGirl.
Treasury's yelling.
Biden programs to make big difference to inequality.
Reuters story.
U.S. President Joe Biden's overall proposal, which includes stepped up spending on infrastructure, child care, and education, will make a big difference in inequality.
U.S. Treasury Secretary Janet Yellen said in remarks released on Tuesday, Republicans have criticized the proposed tax increase Biden expects to use to pay for his proposals, but Yellen said the effect of a change in marginal tax rates is much less powerful in influencing growth in either direction, adding that her aim is to make sure government deficits stay small and manageable.
Yellen also suggested U.S. interest rates may need to rise to prevent the economy from overheating as more of President Biden's economic investment programs come online.
So do you think the rates are about to increase dramatically?
And if yes, how dramatic?
Okay, so she got her hand slapped that day.
Huge.
The NASDAQ dropped 400.
The Dow is off by 350 points.
Somebody.
Do you think she cares?
she renounced her statement that day that what i meant to say was she is the treasury secretary She is a political appointee.
She is no longer the chair of the Federal Reserve.
Interest rates are not her purview.
That is the singular purview of Jay Powell.
That's like Jay Powell coming out and saying the Federal Reserve advocates for a strong dollar policy.
The Fed's not allowed to talk about the dollar.
That is the sole purview of the Treasury Secretary.
She crossed a big line.
It was highly, highly inappropriate what she did, and she had to come back and walk it back because Jay Powell had spent the prior week telling all of America that he wasn't even thinking about, thinking about reducing quantitative easing, reducing the pace at which money is being printed.
He was on an evangelism tour.
He was.
For a whole week.
And she comes out and just slaps that.
And by the way, you've got to stop growing the Fed's balance sheet before you can even get to raising interest rates.
She skipped right over that process and said that she saw interest rates as rising and the market threw up.
But it wasn't her place.
So what are you saying?
You're saying rates are not going to go up anytime soon?
She was speaking with the brain of her prior journey.
I totally get that.
I got the point.
What I'm saying is, do you think rates are not at all going to go up?
The Federal Reserve is not going to increase interest rates anytime soon.
Is he going to keep his commitment of 2023?
Because that's what he said in the past before.
We'll see.
The pressure is building on Jay Powell like you've never read because as mentioned, input cost prices, whether you're talking about copper or lumber is whatever it is.
Crazy.
36%.
Insane, insane.
But shipping, freight costs are higher than they've ever been.
We don't have enough truck drivers in the country.
And now labor is more expensive because Biden's policy is paying people to not work.
Correct.
And labor, 60% of any given company's cost structure is labor.
If Jay Powell is going to be facing companies that are challenged with extraordinary inflation, and for him to hold the line through 2023 and watch this thing blow up, It's hard to see him holding a line unless these unemployment benefits expire, which this is what he's banking on.
He's banking on September the 6th.
He's banking on companies being able to hold on long enough to wait until unemployment benefits expire and people are forced back into the workforce.
Exactly.
I completely agree with that.
And there's also something that we missed that came out of the Charlie and Warren show.
Charlie stole the headlines with all of his crypto and Bitcoin.
Oh, I hate it.
It's terrible.
It supports kidnappers.
Yeah.
Kidnappers, domestic terrorists, and people that can go and use the dark side of the web.
By the way, I'm texting something to Kai Toucher, so I'm on my phone because of that.
Now then, here's what they forgot.
And I don't think you missed it.
And we haven't spoken about this in advance, but I know this is not something you would have missed.
Charlie and Warren spoke for 10 minutes that they are already seeing inflation that could be as high as 6% to 7% this year in America.
And he said, we are seeing costs pass between our companies where companies doing business with each other.
He mentioned sugar and coke.
And now you've already brought up transportation costs, shortage of truck drivers and lumber.
And actually, you brought up correctly.
Iron ore is at a record today.
There you go.
So they're already saying, you know, is nobody paying attention here?
We're seeing a 6% to 7% inflation this year.
And it could be even greater.
And we're seeing it all right now.
All these houses and everything in South Florida going up, that's also driving up rent.
That's also driving up property taxes because it's all ad valorum.
The property tax is a trailing indicator that follows the increase in housing prices.
So if you have an increase in housing prices and a lot of transactions, all those transaction houses now are retaxed.
Or, excuse me, they're rebased and they're taxed tomorrow.
And we're wondering why Biden's already talking about a fourth stimulus check.
Correct.
Because without extra money, all of a sudden households are going to get slammed.
What did you think about all this in their talk on inflation?
I sat back and I'm like, why are they giving Charlie a headline on crypto and Bitcoin, what they just said about inflation?
Inflation was much.
Yeah, it was.
And you're right, Charlie Munger has no – Warren Buffett invited me out to Omaha years ago.
So I enjoy Charlie Munger's company much more.
One of those little sapio words.
Unhinged.
I mean, he says, here you go.
It was a sapio moment in my world.
I can see that because on the opposite side, there's nothing else going on there.
But Warren Buffett got Warren, just keep saying EBITDA.
He got a ton of criticism because he didn't talk about anything controversial in his annual letter.
People are like, well, this week, Saturday.
No, no, no.
His annual letter, which came out prior to exert his influence and he took and he used the microphone to do it.
He did it for a reason.
It was a vanilla letter because the other shoe was live.
Yeah, I mean, and he is, but when you say interest rates are going to rise, you're taking a political shot at Janet Yellen saying, meh, $2 trillion more, $4 trillion more won't make a difference.
We had the tools to fight inflation.
She says it over and over and over again.
We have the tools to fight inflation.
Not if it runs off the rails and slams the economy into a recession because companies cannot afford it.
How do you stop the inflation right now?
What Munger and Buffett were talking about, this is not government-driven inflation.
This is market-driven inflation.
How are you going to stop it?
How are you going to suddenly invent more lumber to increase the supply of lumber tomorrow morning, bring the cost of the capital?
But by 2022, we will have the sawmills.
We will have extra capacity.
But next year is a long time.
What about right now?
It's a long time from now.
You can't stop what's about to happen economically ahead of the midterms.
It's going to be a slaughter.
16 months?
Yeah.
Hello.
Confidence is pretty high, though.
By the way, if rates go up, you think rates are going to go up in the next five years to the six, seven, eight percent numbers or no?
Well, the problem is that what they're flirting with and what they're flirting with is, and Milton Friedman would tell you this.
We've had a 40-year run of falling inflation, falling interest rates.
40 years.
Normally.
Postcarters, 18%, said whatever.
CDs were paying 16.5%.
Milton Friedman would tell you that if you let the inflation genie out of the bottle, it's really hard to get her back in.
And that's when things run off the roads, especially when we're spending money like we're drunken sailors, the government.
We are drunken sailors.
Yeah.
Maybe they want that.
Maybe they actually want that, if you think about it.
I think that Biden thinks he might be the next FDR, which makes him delusional because his infrastructure plan has to be put in hyperquotes.
The actual infrastructure spending being proposed is less than what Obama proposed coming out of the financial crisis.
And Obama already talked about that.
I mean, there's trillions and trillions of dollars of infrastructure spending that could put Americans to work.
I mean, according to Mr. Chomsky, they don't want that job, nor should they have to take it.
Now, hang on a minute.
These are shovel-ready projects that I got out there.
Obama himself came out and said it didn't work.
Obama himself.
When I say that.
Can we go to a couple other stories?
I want to do one story.
I want to do the AOL-Yahoo story because there's some interesting stories behind that with Yahoo.
Just a small loss.
Yeah, what a story, though, if you think about it.
Okay, so Verizon just sold AOL and Yahoo for $5 billion.
And a new company will be known as Yahoo going forward, a business insider story.
After just over five years of ownership, Verizon has sold its ownership stake in Yahoo, NAOL, for $5 billion.
The telecom giant announced on Monday morning the new company formed by AOL and Yahoo will be known solely as Yahoo.
And the new company owner is private equity firm Apollo Global Management, Marquee Media Groups being purchased in the deal include Ingajet, TechCrunch, Yahoo Finance.
Other notable products in the sale also include AOL dial-up, Internet Customer Base, Yahoo Mail, and Yahoo Portal homepage.
Verizon originally purchased AOL back in May of 2015 for $4.4 billion and Yahoo in July for $4.83 billion, making the sale of both companies for $5 billion about a 50% overall loss.
Quite a haircut.
Yes, it is.
A huge haircut.
And Apollo still might be overpaying.
I mean, did you see part of the deal is the AOL dial-up?
Oh, my gosh.
So, guys, we got this dial-up.
Hang on, isn't it like 1.5 million people that are still paying like $24 a month?
For what?
AOL dial-up?
Because they forgot to cancel?
Or something.
My understanding is it's $24 to $26 million a month that's sitting in there.
Folks, if you're just a little bit more.
You can't change to that.
You may want to go take a look at your credit card, Bill.
You may still be paying $24.95 from 20 years ago.
Well, it just shows how the world has changed so quickly.
You're talking about AOL and Yahoo.
Were they not the two biggest internet providers in the year 2000?
I mean, I still got my AOL account that I'll give to somebody if I don't want them to be able to do it.
They were disrupting.
They were spamming my email.
It's crazy.
AOL was a network provider, and Yahoo had partnered with the RBOX, like SBC.
And they were providing, so SBC was providing the DSL, early DSL to your home.
What happened here, this is the fallacy of expanded product.
What happened is Verizon went out and bought a bunch of media assets that they thought were going to pump through phones and do things like that.
Remember, Verizon tried to build a thing called VCAST as its own network, a TV network, that would be on your phone with all this interesting content and everything.
And they were going to be, you know, they were going to be the cable system on your phone.
And what they failed to understand is they were a platform.
The mobile platform was a platform.
And you have media out there already.
You just have to figure out how to get the media on it and make a buck on it.
Apple figured out 30%, please.
For the, we're the platform with the phone.
Were we going to make stuff?
No, everybody else will make stuff, but we'll take 30% of everything that comes through the toll booth.
That's what Verizon should have done.
That's what Sprint should have done.
They were fools.
And so they went out and bought all this.
Remember, Huffington Post was part of this.
Yes, it was.
They were spun out of this.
And they got a guy named Tim Armstrong who came here and they rebranded the whole thing.
Oath.
I think it was Oath.
As I recall.
And they're going to do this.
It's going to be different.
And Tim Armstrong also said, oh, by the way, we're going to do something else with AOL.
We're going to have citizen journalism.
He had a name for it.
Remember, it was all going to be citizen journalism that gives you local stories that are very interesting and everything.
I said, I already have that.
It's called Twitter.
I just hashtag Dallas.
I have all kinds of citizen journalists up there.
And so this is just the fallacy of this.
What's really funny about this is when GoPro hired people, I believe it was from HBO, and they said, hey, we're going to make the GoPro media network and we're going to do our own media and everything.
Why do you have to do that?
You sold millions and millions of these cameras.
All your customers are making all the media.
You curate it and offer it.
You're not the media company.
But there is a fantasy about being the content creator, content provider that GoPro and Verizon had.
And this is just a remarkably bad idea.
And I happen to agree when I look at this and I put it through my thought in terms of private equity.
I don't think Yahoo, I don't think these two companies are worth $2 billion.
And I think, set your clock.
Apollo's going to dish this off to somebody and it's going to mark down again because it's a $5 billion write-off for Verizon.
So if you want to buy Verizon, you've got potential some losses that discount the business.
I just took a deep dive into private equity for my weekly, and private equity is sitting on $1.6 trillion of dry powder.
And they can't find targets, which is the same problem with the fact that they have nothing to buy.
And I mean, if you look at the post-pandemic, there was like five minutes where they could buy distressed companies, and then Jay Powell came in into the bailout.
So their window for buying distressed closed quickly.
So now they're paying, I'm going to be my Warren Buffett moment, they're paying 11.4 times EBITDA.
We've never seen multiples like this in private equity.
But they have to get rid of the money.
I mean, and public pensions are growing the money.
Yeah.
By the way, do you know what was the maximum problem, too?
Do you know what the highest AOL was valued at one point?
Market cap, highest ever.
You know what?
AOL was highest?
I've got some guesses.
I like guesses.
What do we got?
What do you think?
If you're listening to this, give me AOL and give me Yahoo.
What was Yahoo worth the most at one point?
What was AOL worth the most at one point?
God, no.
Highest ever market cap.
Circa 2000.
What's the number?
What do you think?
I don't recall.
Just throw a number out.
Probably the morning that $250 billion.
Gerald $250 billion.
Combined?
No, I was going to say.
AOL was $250 billion and Yahoo's what?
Same.
I mean, Microsoft just crossed $2 trillion, right?
So it's a while ago.
By the way, this is $5 billion they bought both of them for.
So just keep this part of mind.
Maybe $100 billion.
A piece?
I'm saying AOL, but AOL is bigger than AOL Markdown.
Follow the AOL markdown game, starting with AOL Time Order, bought by Time Award.
I think it's the number.
Just give a number.
I don't know.
Okay, AOL is.
This is not a test buddy.
It's not like no one's failing or AOBC.
$4 billion?
$4 billion?
Yeah.
$4 billion.
Way off.
AOL was a $200 billion company.
Ding, You got it.
AOL was a $200 billion company.
And Yahoo was a $100 billion company.
Max.
Do you know when?
$200 billion combined.
The moment where you saw Yahoo kind of go in a bad direction, you kind of went in that direction is when they bought broadcast.
If you remember when they bought broadcasts from Mark Cuban, they bought broadcasts from Mark Cuban on April 1st, 99.
You know for how much?
$5.6 billion.
They bought broadcast for $5.6 billion, which was a marked Cuban company, more than AOL and AOL and Yahoo Today, which when that company sold in that time, three years later, they shut the company down.
I think 30% of the shares Cuban owned, 70% was Wagner's shares.
And from that point on, Yahoo was like, wait a minute, what just happened here?
We just bought a company.
We wrote it off three years later.
The check went over there because one year, you know, the company grew 250% when they went public.
So a market wanted it.
They got it.
And also at the same time, if you read Ted Turner's book and you follow his history, when did his demise come?
When did his fall come?
Is when he went and did business with Time Warner AOL, that whole merger that took place.
Looking back, he lost control.
When he was leading, everything was good.
The moment he had no longer had voice, he no longer had any influence.
So there are certain dealings.
You know, you do certain acquisitions.
Certain things work out good.
Certain things don't.
And we're running at record, record running these last two months.
Excuse me, right now.
Speaking of expensive celebrity divorces, which one are you talking about?
Ted Turner.
Yeah, well, yeah.
That's another one.
Well, two points here.
Warren Buffett said in his latest annual meeting, do you know what percentage of companies that are the top 20 companies in the world in 1995 are still in the top 20?
Oh, this is the S ⁇ P migration over time.
Do you know how many?
Zero.
Zero.
So like all these companies that were just gangsters back in 2000 are nothing now.
And that's why we need to homegrow our scientists and mathematicians because we need to come up with whatever the next generation is going to be.
If Adam has it his way, it's not going to happen.
It's happening.
We're going to space.
Me and my cats are going to space.
What's funny is I remember being like, this was probably in early 2000s.
I was senior in college and I remember asking friends, all right, who do you use as your search engine?
Because I was still using Yahoo and there was like 10 people in the room and everyone used Google.
And I was like, what do you mean, Yahoo, guys?
They're like, nah, I don't think about that Yahoo.
And one engineer said Lycos.
Yeah.
And so they were all moving to Google and I was still on Yahoo.
So that means that at some point you're going to understand the space race thing?
One of these days.
You just got to play catch up.
100% of people were interested in 1960.
Hang on.
20% of people were interested in that.
How do you know 100% were interested in that?
I was in high school then.
I remember I'm an old man.
I'm an old soul.
Did you hear what she just did?
By the way, your lip is bleeding.
She hit you pretty good there.
Okay.
I can take it.
Someday you'll understand the space race.
Adam actually can't take it.
See, Adam, there's a spectrum, right?
So a one is two shots in a Panther, right?
Two shots at tequila and a Panther.
And a 10 is a space race.
You're just living at three.
We just need you to come on down.
I know I offended your dad.
This is the rocket scientist.
It's okay.
We'll figure things out.
Watch what's going to happen afterwards.
No, so you're talking shit about my dad?
You're going to see a rocket scientist fight, by the way.
It's legit.
You know how they do it?
They actually don't fight.
They just blow up your office like they do.
Tom had a reputation.
They're going to pull out their pocket protector and stab you.
You know, Adam's office.
The set is gone.
Did you just say pocket protector?
He's an old soul.
He just said pocket protector.
Pocket protector.
No, no, no.
Did you ever wear a pocket protector?
Can you imagine how many people are listening right now who are Googling?
Pocket protector?
What the hell's that?
Were you ever into guys that wore pocket protectors?
Hell no.
Why not?
I thought you were a sapien, a brain sapien.
What's that word?
I thought you were a homosexual.
Sapio sexual sapient.
I-O-A-O-L-E-L.
Oh, my God.
So you're never into the guys with the colours.
You are not?
Okay.
And less than two hours later, you don't even remember topic.
Did you guys see what happened in Columbia or no?
Did you guys watch any of the video on what's going on in Columbia?
It's not looking too good.
So let's read that.
I had some friends from Columbia said, do you mind covering the story?
So I say, let's just go and talk about it.
What page is it on?
Page 11.
Colombia, heavy-handed riot police bring a wave of criticism on Colombia.
This is a Bloomberg story.
Colombia is facing a wave of criticism from foreign governments and human rights organizations over heavy-handed police tactics during recent protests.
Demonstrations erupted last week in protest against a plan by the government of President Yvonne Duke to raise taxes.
More marches are planned by labor union Wednesdays, even though the tax proposal was withdrawn and the finance minister resigned.
The UN Office for Human Rights said in a statement that it was deeply alarmed by police opening fire on demonstrators in Cali, Colombia's third largest city on Monday night.
And this led to 20 people who have died so far in the recent days in clashes between protesters and security forces.
The police said that nearly 600 officers have been injured and that they have been repeatedly attacked with firearms.
Defense Minister Diego Molano said that Colombia is facing a terrorist threat from organized crime gangs who are seeking to destabilize cities, including Bocota, Medellin, and Cali.
What do you think about what's going on there?
Philosophical looks like they want to make it the next Venezuela and the people are saying we are not up for that.
We saw how that works out.
We're not willing to go there.
Do you think who wins in this battle?
Who wins in this battle?
The people or the socialists?
Megente.
The people.
Okay.
I mean, look, we have a Venezuelan and a Colombian sitting right there in our control room in our control.
Who wins, Sambel?
Who wins here?
You have family in Colombia.
The people.
You think the people win?
Have you spoken to your family in Colombia?
Yes.
What are they telling you?
What's happening over there?
How bad is it?
So basically, it's over the reform of taxes.
Alsis is because basically the reform is saying we're going to raise these taxes, but then still the country is totally shut down because of the pandemic.
So they're like, we're barely getting any food, any money to buy food.
And now you're getting that money out of us.
Like, how are we going to make, how are we going to survive?
And what do you say, being from Venezuela and your family haven't left, what do you say to folks of Colombia?
Keep fighting because I told this Adam before the podcast, I honestly believe me being Venezuela and Venezuela is screwed already.
Oh, I lived in Caracas before Chavez came in, and he's made a train wreck of that country.
And people have to remember that Colombia has been, Colombia borders Venezuela.
So Colombia has a ton of Venezuelan refugees, so they know what the other side looks like because they're with them.
And I don't think the Colombians are going to stand down on this.
No, no, no.
I have friends in Colombia too, and I keep telling them, I keep fighting because I do believe they have the chance, but they cannot stop.
Just keep pushing.
That's it.
They have the case example of what not to do literally right next door.
Yeah, I mean, social media wasn't a thing when Venezuela was basically taken over, but now the world's watching.
When we were speaking to Juan Guaido's camp, am I saying the name correctly?
Juan Guaido's camp, he was going up against Maduro.
We offered to want to interview Maduro.
We'd come to Colombia.
I wanted to sit down with them.
They said no.
But Guaido's camp was open to it only if we conduct the interview in Colombia.
So the interview was in Colombia.
So even they felt safer in Colombia.
But imagine if Colombia goes in the direction of Venezuela.
Imagine what's going to happen there.
Well, here's what they need.
And in a macro sense, so they have two problems here.
It's like Greece, where they have these failed government policies.
It just is a disaster.
And now they have to press the tax button, which was the austerity plan, which is the opposite of tax.
You get nothing.
So you're getting tax and you're going to get less as a retiree in Greece.
And everything blew up over there seven years ago.
So first of all, they've got this tinderbox that's been created by bad government policy for the people.
The second thing they have is they've got a corruption element.
And what they really need is similar to what happened in the Philippines 25 years ago when Benito Aquino came back.
Unfortunately, he was assassinated as he was stepping off the plane.
But Corazon Aquino and Laban helped stabilize what was going on in the Philippines.
Remember this?
It was messy.
It was tough.
It was 10 years getting things on its feet.
But there is a voice that is needed, and somebody needs to rise up.
I think in the days of social media, it gives candidates and people opportunity to do that because I think Colombia can survive.
But I agree that people can't stop.
They got to keep not burning things down, but they got to keep the presence of the people to put the pressure on it because they need a new leadership in the government because it's a combination of Greece and corruption all together.
But they've seen it played out and it doesn't have to end badly, but it's going to be a long walk to get it.
But look how they're spinning it, though.
Defense Minister Diego Molano said that Colombia is facing a terrorist threat from organized crime gangs who are seeking to destabilize cities, including Bogota, Medein, and California.
So as Sam said before we saw some of that, as Sam said before we came on, they're taking a page out of the United States playbook.
That's what they're doing.
Of course they are.
Yeah, they saw what worked and let us do the same thing.
It's propaganda.
Yeah.
There's something to be said for, I mean, there's some bad stuff going on down there.
Peru's about to elect a very leftist president on the cusp.
In Brazil, the current Bolsonaro was part of the military regime that existed in Brazil.
He just had the head of Brazil's largest oil company step down and he replaced him with a military guy.
So there's some bad stuff going on down in South America.
It's not good.
If you're the United States, you look at this from a macro perspective.
Central America is already a shit show, right?
With everything, the migration, everything that's happening coming through Mexico, showing up at our borders.
The last thing we need is South America to turn even more reckless and especially when they do most of their business with China.
Oh, don't.
Well, the good news is I think the president here, Ivan Duke, he already axed the tax proposal, and apparently the finance minister stepped down.
Does he have a choice?
We'll see.
But we're with the people.
Let me go into the story with India.
So, coronavirus, how India descended into COVID-19 chaos.
This is a BBC story.
In January, February, the national number of daily cases fell under 20,000 from peaks of 90,000 in September of last year.
Prime Minister Modi declared COVID beaten and all places of public gathering open.
And soon, people were not adhering to the COVID safety protocols, thanks in part to confused messaging from the top.
While Modi asked people to wear masks and follow social distancing public messages, he addressed large unmasked crowds during his election campaigns in five states.
A number of his ministers were also seen addressing large public gatherings without wearing a mask.
The Kuma, the Kumbala, a Hindu festival which attracts millions, was also allowed to go ahead.
Anyways, this goes into the number of India initially wanted 300 million people vaccinated by July, but it seems the government did not do enough planning to secure vaccine supply to run the program.
On top of it, it has opened the vaccination for adults without securing vaccine supply.
So here's a number we're looking at.
So far, only 26 million people in India have been fully vaccinated out of a population of 1.4 billion.
And about 124 million have received a single dose.
India has millions more doses on order, but still far short of what it actually needs.
This is what they need.
The federal government needs 615 million doses of vaccinate to vaccinate everyone above the age of 45, about 440 million people.
There are 622 million people ages 18 to 44, and 1.2 million doses are required to vaccinate them.
Catastrophic situation going on there.
And here's what China did.
They have pop-up crematoriums.
That's a scared.
By the way, you were talking about 400,000 people a day.
A day.
A day right now.
By the way, the United States has fallen down on this.
Maintaining India as a key ally means that we should have been sharing, hey, this is how you distribute vaccines.
We're proactive with them.
I mean, we've done it.
We've done it and we've done it successfully.
It was planned beautifully.
We have people in our military who can be advising the leadership in India.
And what have we done?
It's like there's Mr. Magoo in the White House.
I didn't say that.
Chinese government authorities, the leader posts, mocking India's.
I'm going to read this and I'm going to turn it over to you, Adam.
Chinese government authorities, the leader post mocking India's COVID-19 tragedy after receiving backlashes is another business insider story.
Images on social media.
By the way, can you try to find this image of the pictures posted on the article?
Images on social media posted by two Chinese official accounts are drawn rebuke for appearing to mock India's catastrophic battle with COVID-19.
An account linked to the ruling Communist Party posted an image on Saturday comparing this country's successful launch of its Taiyan module into space with lines of burning cremation pyres in India.
The image posted by government central political and legal affairs commissions on Weiboo account was captioned, China lighting a fire versus India lighting a fire.
It carried a hashtag noting India's coronavirus discarious cases.
Top 400,000 a day.
Multiple other government accounts run by the police and law enforcement agency shared an image too.
Posts were deleted after many Chinese Weiboo users expressed anger at the insensitivity expressed.
What are you thinking?
Well, I think China learned a few things from dealing with Donald Trump.
You know, how to do a trade war and how to be a troll.
So this response right here is very trumpy of China to basically troll a very sad situation that's going on in India.
And then the only reference that I have for India is that they were actually doing a great job beating the coronavirus.
And then they pulled it to Sean Jackson and basically spiked the ball at the one-yard line.
And the game has completely changed.
And now they're the poster child for basically taking your eye off the ball when it comes to COVID.
Tom.
This goes back to what Danielle said earlier, about an hour ago, we were talking about where's the dependency on vaccine manufacturing right now.
And who would be happy to sit on this side of the line and let India twist for a little while?
Yep.
China.
Absolutely.
This was not a dig to India.
China's loving this right now.
This was a dig to the United States.
That post was screw you and I'm not going to help.
Yeah.
That's exactly how it is.
Why don't you turn to your friends in the White House and see what they're going to do for you?
What would happen if India says, China, we need your help?
That's the only person that can give them 1.2 million doses of the country.
That's exactly right.
did they go begging saying hey please help us i mean the magnitude of this tragedy is hard to i mean i can't How does China react to it?
Does China say no?
How do you wrap your head around 400,000 people a day?
How does China respond to it, though?
If they come out and publicly ask?
Yeah.
Oh, I think that puts China in a really tough spot.
But you're talking about Modi here.
Do you see that happening with the Protestants?
I don't think you would.
I don't see that happening with Modi.
Why would they be in a tough spot if they did it publicly?
Well, because if China didn't do it, it would seem as a very, you know, tyrannical.
What do they care?
They don't care about shit.
Everyone talks shit about China anyway.
No, no, The Europeans are getting on the human rights train.
China's under a microscope right now.
And you think they care this East Global cares about human rights?
They care about the people.
Or they at least be afraid of the.
If they want to get Africa, if they want to get some other nations, they have to act like they do to get into other smaller countries to have control.
They have to seem magnanimous.
They do.
They're already in Africa.
They have major infrastructure investments that are manipulated.
Yes, they do.
Those countries into the debt trap.
This morning, did you see CNN's Instagram account this morning?
Kai, can you pull up that article this morning?
Six reasons why young adults need to get vaccinated.
I think that's what it says.
Six reasons why young, healthy people need to get vaccinated.
Go to the next one.
Long-term consequence of COVID can be quite serious for young adults.
Can you flip the screen to go on that instead of ours?
Go ahead, Tom.
Did you see the guy?
Josh Skidmore.
The first comment.
Six reasons why CNN can't vaccine.
I'm looking at the woman who gave birth to nine babies, two more than expected.
On the bottom.
Yeah, I saw that as well.
So long-term consequences of COVID can be.
You got to hear point number six, by the way.
Long-term consequence of COVID can be quite serious for young adults.
I cannot tell you how many people have taken care in the ER who are in their 20s, 30s, and 40s, who are never sick enough to end up in the ER with COVID, but who now have long-lasting respiratory difficulties.
Okay, fine.
So long-term, keep going to the next one.
Strong and healthy immune systems can backfire.
Some young, healthy patients have suffered from COVID storms.
That's basically when an immune system overreacts, which can cause severe inflammation, other serious symptoms.
When young people do succumb to COVID-19, pronounce that word for me.
Cytokine storms are often a factor, said Dr. Paul Offitt.
That was really the story of the 1918 pandemic, the flu pandemic.
We have U-shaped curve.
It was a young and old dying for different reasons.
Okay, go to the next one.
This is the next third reason.
If young people don't get vaccinated, it could leave everyone vulnerable.
We get that.
Go to the next one.
Getting vaccinated will help the economy.
Many restaurants, bars, movie theaters, and supporting menus aren't open at full capacity either because the COVID-19 case numbers are still too high or because not enough people have been vaccinated.
Go to the next one.
So the reason why restaurants are not opening up is because of the people, not because the U.S. government.
That's what they're saying.
Vaccines can save people lots of money.
COVID-19 could get very expensive medical bills, lost work days, and potential for more doctors' visits if you get long-term effects from COVID.
Okay, keep going to the next one.
Getting vaccinated can up your dating game.
This is the one.
For those on dating scene, getting vaccinated or being open to getting it is the hottest thing you could do.
Said Michael Kai spokesperson for dating site, OKCupid.
He said users who answered yes to will you get the COVID-19 vaccine have been liked up to 25% more than those who answered no or chose not to answer.
In just three months, Tinder had a 258% increase in profile mentions of the word vaccine, spokesperson Dana Bulge said.
I don't know.
I saw big media coverage of crowds in Daytona Beach, crowds in Miami, crowds in South Padre Island.
It doesn't look like the youth were waiting for a vaccine next last summer to depends on where you are.
I've taken two trips to New York in the last few months, and people are really, they're like, yeah, I got over the hump today.
And they're like brandishing.
They're like, wow, I'm out.
I'm out.
I'm out.
I'm having a blast.
I know some millennials who are like the same way.
The co-founder of my company, we're sitting at lunch, and he's like, this is my first lunch out, Danielle.
And I'm like, excuse me?
He's like, yeah.
I waited two weeks after I got my second vaccine.
And I'm like, congratulations.
But there are some people who take it pretty seriously.
It is true.
So here's the crazy thing.
What happened with Bora Bora?
We're supposed to be in Boribora in four weeks.
We get a letter from Boribora.
Did you hear about Bora Bora?
Letter from Boribora saying there's only two ways you can come.
We're taking like 150 people.
There's only two ways you can come.
You can come only if 100% of people are vaccinated or if whoever comes is willing to quarantine two weeks after being here to go back to the state.
Even walking off the plane with a negative test, two weeks quarantine.
So Maldives is open.
Turks and CACOS is open.
But if you want to go to Bora Bora today, you need to take a vaccine shot for them to let you in.
So you're not going to Boriboro.
Not our group.
So we are looking at a couple other options right now where to go.
We're supposed to be there in four or five weeks.
So now we're looking at a couple other options.
I take my hat off to the Bahamians.
Yeah.
Bora, Bora managed.
They're doing a really, really good job.
They're doing a really good job.
I mean, and you saw what happened with Australia Prime Minister saying anybody that wants to come here from India, if you travel to India, you cannot come back or else it's a $50,000 fine.
And what is it?
How long in jail?
$51,000 fine, and you'll be in jail for a month, two months, maximum penalties, five years in jail, and a $50,000 fine.
If you come back, if you're an Australian citizen, you fly back from India to Australia.
It's a $51,000 fine and five years in jail.
That's what the Australian Prime Minister said, Scott Morrison.
Okay?
So if you ever go to India, make sure you don't go to Australia because they're going to put you in jail for five years.
That's not a good idea.
Gang, we've had a good time with you.
If you enjoyed today's, yes.
We have a video from Tom's.
Oh, Doobie, is it ready?
Hey, Tom, how are you doing, Tom?
Let's hear what Tom's got to say.
Zenner in the house.
Put it up there, buddy.
He has a video here.
He said, let's see.
By the way, it's a risk when we play.
We don't know what Tom's going to say.
No one knows what Tom's going to say.
Okay.
Could be controversial.
Could be controversial.
Or it could just be in Zenner.
What is on your Cardinal book?
Are cats involved?
So obviously, he wanted me to preface this.
He left last night.
He's been following the podcast and he has some very helpful advice.
All right, let's see what he's got to say.
Hey, what's up, everybody?
Patrick, Danielle, Tom, Adam.
You got a full house in a great show.
I'm watching.
Thumbs up all the way from me.
And here's the deal: today on vtpost.com, I'm going to continue some of the themes that you guys are hammering so far.
Number one, Elon Musk.
How stupid is that cast of Saturday Night Live for putting up some roadblocks to him being on the show?
It's going to be highly rated, but for one reason alone, they should want Elon Musk on the show.
The after party, I guarantee you, he will spend at least $700 million before tips on the after party.
By the way, Pete Davidson is the one guy that's for Elon Musk, and we'll have a story on that.
Now, I'm obsessed with the Bill and Melinda Gates divorce.
I just can't get enough of it.
Today, we're going to do a story on the house in Seattle, the sickest house in the entirety.
Who gets it?
Who's going to get possession of that house?
We've got that story today.
And here's my theory: I don't think Bill Gates is a sapiosexual anymore.
No, I think he's going a completely different route in round two, and we're going to see that play out with who he's dating in the future.
And finally, Adam, this is for you.
Now, I want you to think about this: pull a Bill Gates, go back to the ex-girlfriend, redo the breakup settlement, give her the cat.
Trust me, you don't want it anymore.
To get married, you have to give all the attention to your woman.
Shout out to my videographer here this morning.
Now, Adam, I'm going to leave you with this.
Shonda.
If you continue to have cats, this, I believe, is going to be the options for you for marriage.
I don't think there's a chance in hell.
I don't think there's a chance in hell.
I don't think.
I don't think there's a chance.
Go play, Tom Zenner.
I don't think there's a chance.
Adam, you're the full package.
You can be married by the end of the weekend in South Beach if you get rid of the cats.
All right.
Everybody else is going to be aware of that.
My man, Tom, you are hilarious.
Hey, go to vtpost.com and give the man a shout out and subscribe for a dollar a month for three months, and then it's $3.99 per month after that.
With that being said, take care, everybody.
Danielle, thank you for coming out.
Tom, thank you for coming out.
Great to be here.
Good to be here.
Thank you so much next week, Thursday.
We're off on Tuesday because we're in Dallas, but we'll be here next week, Thursday.
