All-In with Chamath, Jason, Sacks & Friedberg - E144: Biden targets Elon, BRICS challenges the West, Tiger hit piece & more

Episode Date: September 1, 2023

(0:00) Chamath's big poker trip (4:32) Addressing the "in the arena" comments (7:16) Biden administration targets Elon's businesses (21:58) Tiger Global claims disgruntled ex-employee circulated fake hit piece (27:51) BRICS adds six new members, Sacks breaks down some potential advantages of the new BRICS (40:46) BRICS ultimate goals, India's key position (51:54) How energy independence plays into the future geopolitical order (1:00:22) All-In Summit party talk! Follow the besties: https://twitter.com/chamath https://linktr.ee/calacanis https://twitter.com/DavidSacks https://twitter.com/friedberg Follow the pod: https://twitter.com/theallinpod https://linktr.ee/allinpodcast Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg Intro Video Credit: https://twitter.com/TheZachEffect Referenced in the show: https://twitter.com/chamath/status/1693992134796603477 https://twitter.com/tomosman/status/1696929638935634240 https://twitter.com/KanekoaTheGreat/status/1697072553775501661 https://www.newsweek.com/joe-bidens-robert-peters-pseudonym-under-scrutiny-gop-probes-emails-1820709 https://www.justice.gov/opa/pr/justice-department-sues-spacex-discriminating-against-asylees-and-refugees-hiring https://twitter.com/chamath/status/1695073336483832007 https://www.justice.gov/crt/page/file/1579981/download https://www.cnn.com/2022/11/09/tech/elon-musk-biden-foreign-business-relations/index.html https://www.washingtonpost.com/lifestyle/2023/08/26/oliver-anthony-republican-debate-rich-men https://www.thefp.com/p/oliver-anthony-interview-rich-men-north-richmond https://www.foxnews.com/video/6335645970112 https://www.forbes.com/sites/alexkonrad/2023/08/25/tiger-global-blames-disgruntled-formeremployee-for-mystery-memo-sent-to-journalists https://www.reuters.com/world/brics-poised-invite-new-members-join-bloc-sources-2023-08-24 https://www.ft.com/content/4ff06aa6-b1bf-4e08-9b8d-aa42ee240c95 https://www.ft.com/content/669260a5-82a5-4e7a-9bbf-4f41c54a6143 https://www.voanews.com/a/india-remains-steadfast-in-partnership-with-russia/6883794.html https://www.reuters.com/business/energy/india-will-buy-oil-all-sources-who-offer-lowest-possible-prices-oil-minister-2023-08-30 https://www.budd.senate.gov/press-releases/budd-coons-lead-bipartisan-coalition-supporting-nuclear-energy https://twitter.com/chamath/status/1696295679344459807 https://www.washingtonpost.com/opinions/2023/06/02/united-states-ukraine-trust-developing-nations

You want to see something? Look at my eyes. Look at his eyes. It's fucking contagion over here. Bro, what happened? You have conjunctivitis? Yeah, double eye. I got it from my daughter. I think he got something in his eye. And then I got this fucking allergic reaction to it. I'm just messed up. Dude, for two days now, I haven't been able to see. Okay, well, let me tell you about this weekend, which was the most motherfucking exhausting weekend of my life. I mean, where do I even start? Okay, here's where I start.

So I fucking fly home for mentally, for mentally, get back in the air, 35,000 feet, I decide to troll the mids. Oh, no, we'll talk about that later. But anyways, sipping a beautifully chilled white burgundy. My trawling the mids, you mean that you were occupying their airspace? You were flying at the level of commercial jets.

You did a fly by. It's a 45,000 feet. I did a 45,000 feet. I went to town where the public airlines fly and I was like, blah, blah, blah, blah, blah, mid mid mid. I came back. You're like your winners ride. Rainman David.

We open source it to the fans. I land it like, you know, I get there like one 30 or two 30 or something, three o'clock something around there. In the morning, I take a, no, in the afternoon, take a nice bath and boom, we start playing, three o'clock, something around there. In the morning. I take a, oh in the afternoon, take a nice bath and boom, we start playing at four o'clock. Okay, we start playing for the staff. It's not a big deal. It's like one day of poker. We play poker, we finish it like three or four

in the morning, we're exhausted. Kevin shows up in a wheelchair because he had pulled his fucking abdomen. Kevin Hart, Kevin Hart in a race with Steven Ridley. He had a 40 yard dash with Steven Ridley. Pulled all this, muscles like, I think you mean a 40 inch dash if it was Kevin Hart in a race with Stephen Ridley hit a 40 yard dash with Stephen This bus was like I think you mean a 40 inch dash if it was Kevin Hart That's a 40 inch dash anyways kev kev pulls all these balls so small legs the door in the car open So that was the beginning. I was like this is like a this is an odd way to start poker

We played till four in the morning go to bed Wake up do our thing start the game again Thursday at four Okay, we play again till fucking three or four in the morning Wake up. We go to Burbank at 10 and we fight a port of Iarta for Bachelor party. It's unbelievable. Okay, 10 bedrooms huge compound on the beach the whole nine yards We start gambling on the plane. I Just want you guys to know that we slept nine hours and four days And we just kept playing and playing and playing at one point

I said and this is exactly how the interaction with Said hey guys, maybe we should go to the seat, reach us for d it. And then as soon as he was about to say dinner, I was like, shut up, keep playing. The point is that we played from the playing, in the car we played on an app, then we played in the house, the food was served buffet style. It all decorum just went away.

We didn't do anything. We didn't leave that house. We didn't walk on the beach. We didn't leave that house. We didn't walk on the beach. We didn't fucking nothing. You didn't put your feet in the ocean. I played until I landed in Moffit on Monday afternoon. Can you fucking believe it? It's like almost like six day straight of poker.

I will say this, it's an incredible house. The food was incredible. I really wish I could have seen more than my bedroom and the poker table. I wish I could tell you that the Pacific option was nice. I don't fucking idea. You pee in a bucket. You didn't even see the bathrooms in this house. No, I had the doors open so that I could run to my room and pee and come back. I mean, it was time., it was- It was the waste time. You don't wanna- It was the most dejan we can- I've ever been a part of. And then all of us, by the way,

we're so exhausted, we slept for fucking 10 hours a day for the like the last three days. Oh, I know, I'm by the way. So smart, you know. You think it's a batch of parties, like there'll be girls, there'll be nothing. Not even the housekeepers were woman. Everybody was a man.

So, dude, no distraction. No distraction. No distraction. It's just all dudes, dudes, clean the nails, dudes, cookin' dudes, dudes doin' this, dudes, doin' the, I want a temp to go off-site to go to a dinner. It was like, no, sit down.

The best, he's the best. That should pay for some tequila research. He's the best. My lord, I just wanna, I don't wanna make this into tequila, but too. But my email is filled with 8,000 word tequila missives and overviews from Freedberg and every tequila producer in the world. And my Twitter, my ex, is filled with posts about Chimoff's man and the arena comments. They have set off

an absolute loot fury as Chimoff was alluding to. So the man in the arena tweet, I don't know the timestamp here, it looks like 10, 22 AM. I don't know what that is Italian time, but Chimoff decided to say, I'm in the arena trying stuff. Some will work, some won't, but always learning. You're anonymous and afraid of your own shadow, enjoy the sign line.

And so this, of course, was to somebody who is criticizing a SPAC or something. And I think this person had eight followers. And let's just go through the memes here. Here, somebody with the AI revolution has made a Chimoff version of Gladiator, who is Russell Crowe and Chimoff's DNA being mixed. FreeBrag, I didn't know this was possible in DNA today,

but I guess there is a new actor storming Hollywood and it's Trim off Crow It's Russell polyhapatia beautiful. I mean what a great job. That is great. It looks like you So great job to whatever mids did that in whatever mid software Do you want to actually talk about the men in the arena comment and what the context of it is? Can we talk about that actually? Yeah, good I think people got upset because what I said was the truth and that actually. I think people got upset because what I said was the truth. And this is no different than when I've said stuff before that's become a huge meme and a huge moment, cultural moment.

Telling the truth, especially when it's so clear and so obvious, sometimes can really touch a nerve. And what I said is basically the following, which is that there are all these people, the four of us are examples, who are constantly doing things. And then we come into X, and we don't confuse X with the arena. You know, we don't do stuff in X, we talk on X. But then you go back and you actually do things. You start companies, you invest in businesses, you incubate ideas, you help founders get their businesses off the ground. Those are meaningful things, and success is never guaranteed. you invest in businesses, you incubate ideas, you help founders get their businesses off the ground.

Those are meaningful things, and success is never guaranteed. But there is a small strain of people who just violently either hate themselves or hate the fact that you're doing things, and then that you talk about them. And I think what this touched was just that in a simple nutshell, it forced people to confront the fact that, hey, hold on a second, am I this anonymous rub on the sideline that just

throws shade or am actually doing stuff? Here, I just wanted to take an actual direct line of attack on people who are constantly blaming others for everything. And if you aren't trying and iterating, you're a fucking loser. Go out and try something. And whether it works or not, X is a great place to then go and talk about it. That's the cycle. Sachs, your thoughts on the man in the arena. Well, look, I think speaking of crazy, politically motivated witch hunts, did you see this latest story today that now there's a new government investigation of Elon, they're investigating him for supposedly Tesla was going to build him a glass house, which

he made the service ridiculous. It's not true. So the administration, you know, I guess to turn a phrase, people who live in glass houses shouldn't be investigating glass houses. You have the Biden administration now. The latest revelations is that Biden was using a pseudonym in emails. For 5,000 emails in that. He was emailing Hunter Biden under the name Robert Peters. Why would you do that about Breesma? So this is how they're communicating.

First, Biden said he said he knew nothing about level. Yeah, well first, I said remember at Yahoo.com first Biden said, I don't know anything about my son's business. Then it turns out based on the sworn testimony of Devon Archer, who is Hunter Biden's partner, that Biden participated in over 20 phone calls where he would call in when they were in the room with clients to quote be the brand. And now we find out that Biden was communicating with Hunter about recently using a pseudonym account, basically a burner account under the name Robert Peters. Allegedly, allegedly.

Okay, but this is what the Comer Investigations turned up. It's certainly not looking good. And as you said, so my goal is, people living in the houses shouldn't be investigating last house. Well, here's the thing, like, if you're going to evaluate and listen, obviously, in biased, but if you're going to investigate Tesla over this, like people can buy and trade the stock however they want,

like there seems to be some Biden administration, you know, like G hot against Elon, they're going after him for this. And totally, we don't remember a week or two ago, the first investigation. and like, G-Hot against Elon. They're going after him for this. Totally. Remember, a week or two ago, the first investigation, the EV summit, I mean, it's all just... Well, I think that's where the whole thing started, is that they wouldn't invite the EV summit because they're not a union shop.

And then Elon spoke out about that. Remember, Biden introduced the CEO of GM, giving her credit for launching the whole EV revolution. So Elon criticized the administration for that. But I think the main reason why they don't like him is because what he's done with free speech on Twitter. Twitter. Yeah.

This glass house investigation is the second one. The one that happened last week is they're investigating SpaceX for supposedly screening out foreign nationals in the hiring process. They are saying, the DOJ is alleging that SpaceX was hiring too many Americans and they needed to hire more refugees. My head's spinning. Even though there is a law of law. Not refugees.

No, refugees. No refugees. Refugees. Wait a refugee is somebody fleeing a country because of my kid. Because of political persecution. What, where did the term refugees come from? It is a term.

A refugee is somebody fleeing a country because of political persecution. Why would they use that term? The DOJ suits basics, basically for DEI, foot faults, they said that there was not enough refugees and asylum seekers that were being adequately considered and being hired by SpaceX. The problem with that as it turns out is that the d.o.j is not even allowed to hear asylum seekers. I mean and refugees is governed under the same laws because it's a rocket company as advanced weapons contrafters and they and the whole industry has been under the belief for many years that they could only

hire American citizens and green card holders for these very sensitive jobs. Of course. And what happened is earlier in the year, the Biden administration released what they called a clarification here. I'll post this. Nick, can you pull this up? So the US DOJ Civil Rights Division released this again what they called a clarification How to avoid immigration-related discrimination when complying with US export control laws the export control laws is what governs

Rocket companies and weapons contractors. It's basically the companies that are involved in these sensitive national security areas Until now the government was pretty clear that you were only supposed to hire U.S. citizens and green card holders, what they call U.S. persons. What's the way of using your sex? Explain to me the more evasion. It's crazy because they have this crazy idea that these companies, these national security companies, should be hiring more refugees and asylum seekers.

Wait a minute. Even though this is the definition of a national security risk, but the really crazy thing, it's the first fall. I think this update that they issued, this is law making, okay? They called it a clarification, but this is a Biden administration making new law through the process of agency.

I think this is a crazy law. It's really the opposite of what we should want, which is more Americans getting jobs. But SACs, can I answer your i think that what they've done with this lawsuit is they're going back and remember the key here is that that was only issued in april of this year they've gone back and said that from two thousand eight to two thousand twenty two

space x is governed by this new understanding so they're basically making it retroactive okay for putting aside this uh... the least here for second i just want to talk first principles if you were a foreign government and you wanted to infiltrate some company like SpaceX or Andrew or whatever, would it not be easier to send a quote unquote refugee to America?

Yeah, especially to get in. Versus flipping an American who already works there. It should be a much easier process. So this makes all sense. Right. Because especially since all you have to do is go to the hole in the wall in you may Arizona as RFK junior showed. And you just mentioned the word asylum like the cartel has taught you to and all the same or a refugee you're in.

They give you a piece of paper that tells you you're going to be in court in three years, but you're in thousands of people tens of that millions of people have done this. Also, another pragmatic question, Freeberg, how many people who are coming in as asylum seekers have the advanced degrees or background to work at Andrewl Space Act? I don't know, pick an aerospace weapons based company.

Like, what percentage of refugees do you think coming across the southern border or whatever border they're coming in would actually have those qualifications. So anyway, this seems insane. Yeah. Well, and so, Jake, you raised an interesting point because I think one of the really unusual things about this DOJ lawsuit against SpaceX is that the remedies are seeking are

unprecedented. What they've said is, anybody who was screened out as part of this process was entitled to back pay, lost wages, since they were screened out as part of this process was entitled to back pay, lost wages, since they were screened out. So in other words, it assumes that every single one of those people would have been hired by the... They probably hire one out of a thousand or one out of a hundred applicants get hired. Right.

And if they could have gotten a job of SpaceX, as we all know, their bar for hiring is incredibly high, they probably didn't have damages because they could probably get jobs at ten other companies as well. Oh my God. It's a. The body administration is just like self-inflicted movements here. This is so dumb. What a stupid approach. Is the glass house thing a misallocation of funds claim? Like it's a securities issue? Is that what it's a securities issue that it was improperly disclosed and that they may not have filed the proper taxes because it would have been a paid benefit to Elon right right but i mean don't you feel like this is a stretch i mean they are stretching every law they can to go after this guy it's getting to be a little bit to bring it up let's be clear here's what's happening i think that when e-lond bought twitter

what effectively happened is the biggest siops organization for the Democratic Party was taken away from them. And I think that they are increasingly feeling like if it really does, if Twitter or X becomes a town square, that's really bad for them. And so they can't shape people. They can't amplify the victimization. They can't amplify the government's going to save

you narratives. And so this is the sort of death by a thousand cuts approach that the blob has of trying to bring him down. And so you see a DOJ lawsuit over here. It's you know nominal but whatever. Then you're going to see you see the SEC investigation over $50,000 of glass. I mean, the guy is worth a quarter of a trillion dollars, and we're sweating the $50,000 glass purchase. But the point is, the goal is to tie him up and to distract him and to basically take resources away his mind share from working. Now, we all know him, so he's gonna do the exact work. That's not gonna work.

Not gonna work. Alex Spiro is gonna have a job for the rest of his life. That's his lawyer from Quinn Emmanuel. And Alex is gonna beat these things back. And generally Alex will win most lawsuits. I say most. Not at all. But not at all.

Oh, let's. But anyways all. But not all. But anyways, the point is that the point is that, uh, what's your mind? I think you're exactly right about what's motivating this and what's going on. But I'll tell you when it all began, is that Biden has a press conference where he said that Elon needed to be looked at.

Do you remember this? Yeah, yeah, yeah. And specifically Biden said, well, I don't know that Elon has anything wrong, but I think we need to look at his relationships with other countries. So this was the signal to all of the ambitious apparatus in our law enforcement agencies

who were looking for advancement that he's the target. Go after him, find something. Now, in fact, they couldn't find anything so they look at his relation with other countries and what you would expect is that maybe he hired some foreign nationals he shouldn't have but it was the exact opposite they didn't hire foreign assets they make up the crime it reminds me of the whole Alvin Bragg thing where Alvin Bragg made that case that Trump was required by campaign finance laws to pay stormy Daniels using donor money. But you know, you know that if they had found that Trump paid stormy Daniels with donations,

they would have charged him with that. It's like investigating the guy, finding he did nothing wrong, and then charging him with the opposite of what he looks like. No, equivalency between these and Trump's behavior, but it's the weaponization of the justice system. It's showing the man and I'll show you the crime. Now, incorrect, with the last two. I mean, he committed a lot of crimes, but we'll leave that off the document for now.

We're gonna read it, just read on that one. Okay, just very interesting media-related story and finding the wrong creators too much credit. I mean, Joe Biden. Biden's got to go. Trump's got to go. We need a new platform. I have announced that I am supporting Nikki Haley

and Chris Christie slash Rebecca. Rebecca, that would be my ideal ticket right now. I want to say, the only person freeberg who brought up spending in either party, Nikki Hale. All right, let's just agree. This is the big, I'll move on.

But I just want to also say, we were wondering who won the debate last week. Biggest increase, Nikki Hale. So, I don't really know if you're buying it. Yeah, I don't know if you're buying it. I don't know if you're buying it. What does it look like? I think she went from two to not seven to nine in different

In different polls, so it's somewhere between she triple. It was not a huge pumps I think you went. I think you're right. She went to nine two to seven There was one two to seven one two to nine, but I was putting it aside The Trump people are actually promoting it because they want Trump to be up against a bunch They want to be up against a few. They want to be up against. I guess one. Yeah. Yeah. Three people at 10 to 15% is better than 130. I probably could I just ask because I didn't follow it

this week. What was the set? Like after it settled after the bounces and the spikes, saxipu, what where were we at now in the Republican race after this past week and having people having a chance to really figure out what happened in the debate? Yeah, exactly. I think the consensus view just about is that the biggest beneficiary of the debate was Vivek Ramaswamy.

By far. Yes, Nikki Haley did get a little bit of a bounce, but Vivek got a much bigger one. He's much better known to the base now. And I think that it's Vivek and DeSantis are now more or less neck and neck for number two. Haley might be number three at this point, but I think it helped Vivek the most. Now, it's also true that he got a lot of criticism, but I think that's kind of where he wants to be. I mean, you want to be the center of attention. And the people who are attacking him now are all these neo-cons. It's basically the whole military industrial complex. It's all the button paid for politicians and think tanks who, you know,

want America to be in these forever wars. So I think he's being attacked by the right people and that's going to help him. Yeah. So, Saks, you see him like basically, it's going to be Trump versus Vivek if this continues. Well, it's hard to say. I mean, I think the census is still in the mix. I think it's noteworthy that the top three candidates all have expressed significant

either misgivings or opposition to our involvement in Ukraine. Trump, Vivek and DeSantis with varying degrees of strength have basically all opposed by unspolicy. And they are the leading candidates in their public and primary. I think that's telling you something very important. Haley, Christie, Pence.

Jim Scott. They all would like to do even more in Ukraine and that is now where the party is. So, somewhere the country is, nobody's there. One other piece of a debate fallout that I thought was really interesting was that they interviewed Oliver Anthony. Remember the guy who sings that song? Yeah. The Richmond North. Richmond. Because Fox News made the first question about his song. And he clarified what the song was about what he said is the rich men he's talking about north rich men are the people in dc it's the blob

and it was a secret on the debate stage here well it but what he said specifically was it was that it was the people who got us into all these endless wars when i was growing up it was the republicans who did, he was talking about Bush, Cheney Republicans, Neocons. He made that explicit and clear. I'm singing more about like a lot of the older super conservative politicians that brought us into endless war through my entire childhood.

Those are Bush, are Neocons. He said the people on that stage, as soon as I'm talking about. Don't use my song. This song is not a left or a right song. It's about the people. It was a song about his contemporaries is what he said. Not and he's talking about both parties. And he said specifically the people on that stage I'm talking about.

Don't use my song again. Okay, let's go on to the next story. There was a leak document and we had this come up last week. The leak document was sent to Chimoff, and it was about Tiger Global's struggles. It had a line at the top that said this was a spiked or a draft of a New Yorker story, and it would draft it as the way they said it. And we had a little conversation about here.

We decided not to publish it. We had a little discussion because we did not think in our private discussion that this was a real story. High-stargrimmatical errors in it, SACs said, we really can't publish something like this because it's slanderous and we don't know the provenance of it. And on Friday, Tiger Central led her to its LPS in response to the document. They wrote that they are being targeted, quote, targeted with the series of misinformation attacks, anonymously using a cryptomessaging platform like Signal, we shrung and believe these were written by a disgruntled form employee with whom we parted ways, unlike the anonymous

coward spreading this false narrative on the internet. You know who we are, and we are here and ready to answer your questions. Russ Assure our team remains highly focused on our core business, which has been performing this year. So, Chimoff, just your broad thoughts on the Tiger Global Non-Story, a fake faux story by a former employee. Chase is an incredible person. I said this before, he helped me get into the business of investing.

He seated my first angel fund. I was pretty helpful, I think, in getting them on the cap table at Facebook many, many years ago, which helped them get going as well. So I think that he's a wonderful human being and I've had nothing but positive things to say about him. Scotch Life, right, I don't know as well. But he seems like clearly a hard charging person that's achieved quite a lot.

And so I'm glad that we didn't publish it or talk about it. And if there is something to be said, this story will be validated and people will get to the bottom of it. What is crazy is, I don't understand what this document actually serves, except exactly as you said, to a disgruntled person who has absolutely no economics, meaning if you're an LP, you don't want this document to be out. If you're a partner that has carry, you

don't want this out into the out in the wild either. If you're a portfolio company, you don't want this document out in the wild. So I tend to believe that this is just a disgruntled person. Again, look, I've had this experience as well, so which is that there are all kinds of employees who work with you. We try our best as leaders of organizations to compensate them well, but invariably what I find are people overestimate their contributions and people try to take way more credit. They try to take credit for deals that they've done that they didn't actually do. They try to

take credit for all of the internal workings. And then invariably when the leadership decides that those folks aren't a good fit anymore, mostly for cultural reasons and are exited, they have a bone to pick and enact a grind. And they try to sort of distribute misinformation to other LPs, to other GPs, to portfolio company CEOs. It's happened to me, it's happened to Chase, it's happened to Sequoia, it's happened to any of us that have been successful. So, it's just like, again, it's just another example

of like there are the people that are in the arena doing and then there are the people that kind of get kicked out and get really upset and lose track of what's important. These people, instead of writing these missiles, should be working. Yeah. I mean, how just crumpled sacks does a former employee need to be to put in this kind of effort to write a 10-page faux-New Yorker style expo-z? And you were the voice of reason, I think, in our group chat and just saying, like, I don't even think we should talk about it in a meta kind of way.

We weren't going to cover the details of it, but even a meta discussion of it, you put the Kabash on, which we would have been first, like, kind of highlighting this craziness, but you took a pretty hard stance, and your thoughts on it? Well, it was written like it was some sort of journalistic article, but a journalistic article has a byline. You know who wrote it, you know who publishes it, it has provenance. You know, therefore, who is liable if it's slanderous. Yeah. This piece that was going around had none of those things, and therefore my view was that we shouldn't discuss it. And my view is we shouldn't even mention it because all you're then

doing is drawing attention to something that, again, you don't know the proven itself and you don't know whether it's true or not and you don't know who's standing by it. Now, what's happened in the last week is that Tiger has issued a statement about it and that statement was covered by the press. So I guess we can talk about the fact that they've had to respond to this. I've still not comfortable talking about any of the contents of it because again, nobody's put their name by it. So why even put them in the position of needing to respond to it until somebody is willing to basically raise their hands and say, this is what I think.

The piece that was circulated was a mix of both business criticism or business issues and personal slander. So I mean, are there business issues in there that we could discuss? Yeah, I mean, then they would be interesting, but until we know that there's some authenticity to it, I don't feel comfortable giving any attention whatsoever to this thing. Personally, I think even talking about it now is still kind of a waste of time. How freeberg any thoughts on it just as we wrap here? No, it's clearly a disgruntled person trying to cast a negative light on the firm.

Just give a job, bro. All right, D dollarization corner. Bricks added six new members climbing to 11 total. And bricks, of course, everybody knows, Brazil, Russia, India, China, and South Africa. These four countries make up 40% of the world's population, 25% of global global population with the third of GDP. This is the first expansion in 13 years in South Africa joined. Sachs, you've got some thoughts on the bricks and a little presentation here.

Inform the audience. All right. So, Jake, like you said, they added six new members, Argentine, Egypt, Ethiopia, Iran, Saudi Arabian, UAE, the sun top of the original five members. Now, you've described this group of countries as mid. I don't know what metric you're using to make that determination. If you look at share of global GDP in purchasing power parity terms, and we can debate whether that's the right method or not, but a lot of economists believe that PPP is the right way

to look at it. The original bricks were 32% of global GDP. The new bricks bring it to 37%. And there's a couple dozen more countries that have expressed an interest in joining bricks, which would bring it to 45. The G7 is only 30%. And that number has been declining over time. Back in 1995, it was all the way

at 45% whereas the bricks were only about 17%. You can see that decline or shift here in this chart going all the way back to the 1980s. This is why I think a lot of Americans have this casually dismissive attitude towards the bricks is they're thinking that these countries are still living in the era of the 1990s of unipolarity when the G7 was, you know, more than half a global GDP. But now the bricks are bigger than the G7. Again, in terms of PPP, the rest have risen and has become a very substantial part of the world economy. If you look at global oil production, the new BRICS now have 54% of global oil production. It's almost double with the G7 produces, despite the U.S. still being the number one producer

of oil. We're not the biggest exporter because we use it all. Oil. Just to add to that point, oil is of course a declining commodity with renewables and nuclear and people don't rely on it less. Sure. I don't think renewables are anywhere close to be able to replace fossil fuels. If it breaks, it breaks, it breaks. Hold on, hold on, let me just to answer to that. It's cheaper now, and Jamaf can speak to this, to install solar wind than it is to do a lot of the

install solar wind, then it is to do a lot of the carbon based fuels. So it actually has tipped economically, where it's, I think, cheaper and 80% of cases, 85% of cases, to install renewables. Is that correct, Tramoff? We're all just speaking. The cost of solar is effectively now the cheapest form of energy, you know, on a kilowatt power basis. Great. Okay.

Continuous, sir. Well, this isn't preventing Jury from sliding into a massive recession because they're not able to get cheap energy anymore. Yeah, they turned off their nuclear. That also supposes that you have the actual supply and to David's point why Germany has such a difficult issues because they turned off Matt Gass, they turned off the reactor. New New

New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New New and there's just not enough solar in the stalled right now. So, you also have the party country. What I just meant was more the levelized cost of energy, which is if you had an installation here and an installation, there are two different modes of energy generation. Solar is cheaper, but David is right.

Like, you know, it's still going to take some time for the proliferation of solar. I agree. So that's it. The US is already a roughly energy independent. We produce about 20 million barrels of oil a day We consume about 20 million so we are roughly neutral with respect to the world. We're neither a net importer or net exporter as of now

So I oil is still going to be a huge. It's the number one global commodity if bricks ads Venezuela Algeria and Kazakhstan as they may do as soon as next year, they'll control 90% of all oil and gas trade globally. You're going to have an OPEC plus brick sort of symbiosis because Russia and Saudi Arabia basically run OPEC plus. New bricks is also really strong in food production. Five of the world's six biggest food producers are now part of bricks trying to, China, Brazil, and the Argentina, Russia. The only other one is the U.S. They have 46% of global population, 36% of global land mass. So my point is BRICS isn't just strong in global GDP, they're strong in the production of

what are currently the two most important commodities in the world, which is oil and food. They also have influence over strategic trade routes, so if you look at where these countries are located, and I'm sure this went into the thinking of who they just admitted to BRICS because they had a lot of choices, that's something like 26 countries applied, and these are the first six they've added. So, they now control the Arctic sea route, which is basically as the polar ice cap starts to melt in the Arctic, you're seeing a new ability to create maritime routes.

North of Russia basically, from Europe to Asia, it's a much faster route than going around the Horn of Africa or through the Suezk now. You have this international North-South Transportation corridor, which is basically a combination of overland routes and some maritime that connect Russia around in India. You've got built and rode, these East-West corridors. You've got the Persian Gulf, the Red Sea, and the Suez

Canal. They're all now part of BRICs. And the point of that, I think, strategically is to bypass choke points like the straight of Singapore, the straight of Malaka, the Bosphorus, and the straight of that I think strategically is to bypass choke points like the straight of Singapore, the straight of Malacca, the Bosphorus, and the straight of Hormuz. So the point here is that the US Navy has very strategically over decades been encircling China with military bases on, you know, island chains around China. This is going to basically neutralize that whole strategy because China

will have ways of securing its trade routes over land or, again, over sea going through the Arctic. So this has huge geo-strategic implications. The other big thing that I think Bricks is doing is they have this five to ten year goal of allowing Bricks and overseas settle trades and local currencies. I think that you guys may be seeing it the wrong way. The goal here is not to create a new reserve currency. It's simply to create a way to bypass the dollar complex. They're trying to break the petri dollar monopoly. This is not an offensive organization and they're not necessarily trying to create a single

alternative to the US dollar. They are trying to create a way to Not have to go through the dollar complex in order to do their trade when they're trading with each other And I would like to Try to Brazil are doing is at test case for this where they are setting up a You want clearing arrangement with Brazil and the goal to be clear Sac series to have a voice versus the G7, which they feel they've a lot of this countries feel they've been left out of, and to maybe

not have as much dependency on the West and form this block that has a bigger voice in the world. Right now, I would go further. I go a little further and say this isn't just about them having a voice. It's about them having economic sovereignty. They do not want to be completely dependent on the United States to secure their economies. And the big driver of this has been the weaponization of the US dollar. And swept. Yeah. That's what we did to drive.

So in conjunction with the Ukraine War, the US sees Russia's foreign reserves, which were in dollars, they've widely imposed sanctions. We're now sanctioning dozens and dozens of countries, and we are technically limiting who can use Swift as part of this. So if you are any of the BRICS countries, you're asking yourself, wait a second, when I am doing business with another member of BRIC's, why should the US be any part of that transaction? Yeah, they do not want that transaction to be mediated by the US at all. In a way, it's like people buying crypto so that they don't have to deal with the US government.

They have Bitcoin over here and they're not subject to the rules of the US dollar, right? It's like a way up. Right. I mean, look, looking at having some independence. Yeah, we totally get it. They're willing to play by the US's rules when they're trading with the US, but they do not want to play by the US's rules

when they're not trading with the US or the G7. And this is about creating that independence. I think it's great that they have, that there is a competitor to the US dollar because it makes us be more thoughtful about our spending ultimately and our balance sheet. What are your thoughts on our list, Shama? I have a couple. So if you go back to when the BRICS was created, the US dollar because it makes us be more thoughtful about our spending ultimately and our balance sheet. What are your thoughts on this, Jim?

I have a couple. So if you go back to when the BRICS was created, this is like 20 plus years ago, it was first just BRICS. And with the small, that was 2001. And then it became BRICS with the big S when they admitted South Africa. I think the fact pattern in that organization is pretty poor. You know, when they first got organized, they tried to create a competitor to the IMF. I think it's called the IDB, the international development bank. That bank is not dispersed to single dollar in 23 years. They

tried to create a joint program to lay undersea fiber amongst these countries hasn't even started. So I think it's good that this organization is growing. I think the problem is that the actual amount of legislative coordination that these countries has been able to exhibit has been literally zero. And the problem now is that their regional rivalries are only growing. So China and India, which are the two anchor partners of bricks, are literally in a land war. There is a border that they fight over with with guns. You have a growing anti-Chinese resentment

inside of both India and Brazil. Nick, you can just throw up this little chart. In India, they've blocked a lot of apps. They're about to block a bunch of imports, but India sees China as an existential threat. The Brazilian population, this is just a poll that the economist put in. There's just a lot of anti-Chinese sentiment. It's very hard to see folks that are such polar enemies actually working together, even if they're part of an organization. So I think that the odds of legislative coordination in the future are probably less than what they were even 10 years ago. So I expect even less, and it's hard to expect even less when nothing has been done.

And then the second is I just look at the data and if you look at Swift in July, you know, the Swift volumes on US dollars was the largest ever. And so it's kind of one of these weird things where I think that it's good that that organization exists. Don't get me wrong because I do think that if they could, oh, the other thing that I'll say about the bricks, which is kind of odd, is that unlike the G7 and unlike NATO, where you have democratic ideals that underpin the organizational framework. Here it doesn't because you have China, Russia, Iran, which are total polar opposites to Brazil and India in terms of democratic governance. And I don't know enough about Ethiopia or Egypt to say anything.

So if they can challenge states at a minimum, more than what I'm just saying, they're not democratic. The way like NATO and the G7 are all democratically elected countries. It's a very good point. They don't share the same operating system. The authoritarian and democratic nations put together. So then the last thing is, could you see a currency framework to compete against the US dollar? And I think the practical complexity is if you take all of these other issues,

land wars and import controls and growing Chinese resentment and now try to boil that into an exchange rate mechanism where the R&B and the RUPI and the ray eye can be interchangeable. I think it's very difficult to see because if you look at the last time that that happened, the Frank, the Lira, the pound sterling, the Deutschmark, that was possible because all of those other factors were not on the table. They were not fighting with each other. There wasn't this anti-recentment in one country to another country. They roughly held the same democratic ideals. So I think my comment is, I think it's good that bricks is growing. I think that if they can get some legislative or policy coordination wins, it'll be great.

The track record is literally zero. And the setup doesn't, to me, mean much yet, but hopefully that something happens. Who knows? Friedberg or thus? I think the arguments about the pragmatism of non-dollar denominated trade and the progress that's been realized or can be projected to be realized from current policy can be debated. What I think is most important is the signal that's being given, which is that there is a desire by a larger percentage of global GDP than is represented by the G7 to de-dollar us.

And so while these intentions may be difficult to translate into policy in the near term, these intentions may be difficult to translate into policy in the near term. That signal says a lot about the influence and perhaps the policy of the US in addressing and dealing with a lot of these countries and global economic actors. But I don't think they want to de-dollarize. That's not part of their... They want to increase trade. It's a stated mission their they want to increase trade is the stated mission and they want to collaborate on trade That is the stated mission. Do you think the stated mission is de-dollarization or do you think the implicit Outcome is de-dollarization no the local currency support initiatives are implicit de-dollarization I don't hear anyone saying we got to destroy the dollar because they're all very important trade partners most of those countries are very important trade partners with the US and very dependent

on trade with the US. It seems less that it's about, hey, we've got to hurt the US and it's more about we have to be independent from the US. We have to be independent. Implicit in that is independent from the US. And I think that that hone, that signal says a lot about US economic policy and US foreign policy, that there's something off with the unipolarities as SACS has pointed out, that it's not de facto anymore,

that there is intention here for there to be something different. Yeah, that's very healthy. That's very, very healthy. And I think that that opens up avenues and paths that we're not thinking about today. I got all of a sudden we'll wake up and we'll be like, whoops, and we need to be thoughtful about that.

I think that's the most powerful part of Sachs' commentary is that it's a very firm establishment, even of the non-unipolarity of the world. But the thing that the bricks have to do is, I would just encourage them book a quick win. There has to be some policy coordination that they could do to prove that there's something there that's more than just a get together once a year. And that's been missing for 22 years so far. And that would have a really important, I think, a fact, yeah, I agree with you, David. I think that's the litmus test. That hasn't happened yet. Let me partially agree with that. And then partially respond to what you're saying before

Chimath. So it's true that bricks does not have an impressive record of accomplishment to date. That's simply true. However, recent events, I think, have provided the motivation for this group of countries to now Try and get something done. In the past, it was just so phenomenally convenient to be based on the US dollar complex Because everything's price and dollars easy to transact and dollars and when you run a trade surplus The US has an open capital account and you can just park them on the US treasuries So there was never a reason for any of these countries to want to leave We run a trade surplus. The U.S. has an open capital account and you can just park them on U.S. Treasuries. There was never a reason for any of these countries to want to leave the U.S. dollar complex until more recently when again, U.S. foreign policy has militarized and weaponized the dollar and

to try and make it a coercive instrument to get these countries to do what the U.S. wants. All those countries now are bristling at that and they want to maintain their sovereignty and so now they have tremendous motivation to get this done now the thing they've already agreed to and done as part of bricks is that when you join bricks you agree not to sanction any other member of bricks that is a meaningful commitment and obviously it has a lot to do with this Ukraine war. And the fact the US has been demanding it's the whole world sanctioned Russia. And most of the world has not been sanctioning Russia. And that's why the sanctions have not been effective is the US has not been able to get that done.

The US will not be able to get it done in the future with respect to at least the countries who are members of BRICS with regard to their trade with each other. As we saw in the percentage of World GDP, BRICS very rapidly, once they add a few more members, they're going to be at about 50 percent, or World GDP. The US is only going to be able to influence, call it roughly that half, a global GDP, where the US or the G7 is a major trading partner. BRICS will be lacking is the way on a technical level

to bring about the sovereignty they want. So they need to have a way to settle on clear transactions and they need to have a place to park the surplus that's created for net exporters and they haven't quite figured that out yet. So for example, there's a recent news item where Russia, which is selling a huge amount of oil to India right now, it was saying that they don't want to accumulate more rupees. So they've got to figure out what do we do with all these

extra rupees. So there's a lot of pieces to figure out here. And that is why they're saying this is a goal they have over the next 5 to 10 years. It's not one to two year time for him. It's 5 to 10 years. But they should make they should make their own euro. If they feel so strongly that they're a great floating block maker euro, then they could all put into it and you can see what happens when a bunch of dictators and a long tail of failed states now share a common currency. It's not going to work. These countries share all of each other. Yeah, failed states who share GDP as they go. These ones are like a lot of very troubled states, by the way. Yeah, I states who share GDP has been going up like a lot of very troubled states, by the way. Yeah, I'm sure GDP has been going up like a rocket.

J. Cal, that's what a point. Inflation, they're called we have to democracy human rights. Yeah, their goal is not to create a common currency like the euro. And I'm saying, and I'm using that as a corner of place. You on and rupees with some sort of new urolyte currency. Moreover, they're not trying to create a reserve currency that's going to be a currency for the man on the street. This is about settlement of global trade flows and getting out from under the U.S. dollar

complex. My point, just to be clear, Freeberg is if you were to think of it as a thought experiment, these to Chimaltz point, these are culturally and strategically very different countries. And I think what they have in common is that they haven't been included in the G7. And really America's reactions to this should be to get India out of this and get them into the G7 and make that strategic decision that India is the most important country for us to have strong relationships with. It's kind of hard to put Saudi Arabia and to put UAE in this because they don't share the democratic principles

of the rest of the G7. But we should be trying to any democracy that's in the bricks. We should be trying to include in the G7. That's the strategic chess board that would make the most sense. And then you would just leave bricks as all authoritarian dictators and they do not work well together.

They always wind up. You're afraid that Brazil is still nominally a democracy. No, that's what I'm saying. Like getting Brazil, I just said, getting anybody who's a democracy and moving them towards democracy and getting them into the G7 should be our state of goal. That's what the West should do. Lula, who's Brazil's president, is one of the most ardent advocates for D-Dollarization. Here's his quote, every night I ask myself, why all countries have to base their trade on the dollar?

Yeah, they don't. So maybe an regime change him, Jake Calming is the idea we'll get rid of them. No, that's stupid. That's a stupid statement. Nobody's saying that. I just said the exact opposite. I see somebody else.

There are people saying that, but. Oh, not me, just to be clear, I get it. You put my mouth out of the exact opposite of what I just said. I get my point is my point is this is not a simplistic dichotomy between dictators and democracies. Another way to fix this. So by the way, South Africa is a majority on a just on a population basis. If you took India out and you got them into the G7, it would be majority,

over one majority percentage of citizens in the bricks living under authoritarian rule. But India, let me just want to that and then also, Jamoth, just going about. Maybe it's the largest country in the world now. I mean, this is the strategic important piece here in my mind. I think India and the US will pull tighter together in terms of security because of a mutual desire to balance the power of China. So I think Jamalath is right about that. However, India also has a very strong

anti-colonial impetus to their politics and especially their foreign policy. They do not like being told what to do by the West and the United States. And in particular, they do not believe and many of their politicians have said this, we don't see why we should have to sacrifice for you we're going to do what's in the best interest for our own people and that is why india has rejected enormous pressure from the u.s not to trade with russia india and russia's as bad as the relationship is between

india and china is the relationship between india and russia is very strong it historically always has been and russia right now is supplying half of india's oil and india has adamantly refused to play along with the u.s. the saying and rightfully so and rightfully so right they should make their own best decisions here right so i think a lot of people are thinking that india is not here to be a bootlicker to the United States. Fuck that. Exactly. Exactly. So look, I think India will pursue its interests. I think when it comes to security, they will align with the US to balance the power of China. But I think when it comes to economic policy, India will pursue its own interests, which I think has to do with maintaining their

economic sovereignty. 100% cheap oil. They need cheap oil. They're developing country, right? They need oil. That's the lowest price to oil. Another way to think about the framing is that the priorities for many of these countries for the last two decades have shifted going from a state of economic insecurity, civil insecurity, civil insecurity, government insecurity, and as you obviously establish systems and certainty in certain elements, the dollar complex of SACS frames it was very useful

in helping them with that transition. But as they start to move from emerging market to developing market to developed market, the priority start to shift. And then the priorities become much more about sovereignty, independence, institutional destiny, et cetera, that kind of start to make this more realistic, that maybe they don't have their ducks in a row at this point, but there's certainly a conversation or set of conversations that emerges when you're not worried about civil war or you're not worried about economic strife

and you can now start to think on a global stage and that's evidenced by the PPP data that's actually where, you know, you've seen them become a much larger percentage of global GDP share over the past 10 or 20 years. That's a good metric for that general opportunity to say, hey, I'm gonna shift my priorities now. And that's why maybe now is the time to start to pay attention to what's happening.

And think about US policy to participate in some reconstruction that's necessary here. I tell you what the most important here is, all these conversations seem to come back to energy, Chimoff, cheap oil, Russian oil, Saudis, UAE, all participating in bricks. And then if you look at nuclear, we just had a bunch of, I think it was senators signing a bill. I think you might have tweeted it, Chimoff of support of nuclear.

21 nuclear power plants are being trucked at this moment in China, eight in India. United States only has one, which is kind of an extension. In Gujarat actually. In Gujarat, India just turned on its first home built one. So just literally today. So big, big news in India. If we really want to have a great relationship with India, an incredible path, and with some of these other countries, would be for us to really invest in these.

Well, I don't understand. Well, I don't understand. And help people build them and help them get energy independence from Russia's oil. We should be building 50 reactors in India. I don't know enough to know whether that's true or not. And part of it is that whether we should be building those reactors in quotes because I don't know what those means. Gen two, Gen three, Gen four reactors.

Any small modular reactors. My big comment in my thread is just more that I think that the regulatory support in the United States for nuclear is so constipated that it's impossible to get it done. So you could have the greatest technology in the world. I just don't see how the laws change fast enough and the zoning changes fast enough and the goes away to make these things viable. And so that's actually the real question. I don't know, you know, free bird medicine. Well, that's in the United States. What I'm advocating for here, SACs, is, hey, what if the United States policy was,

we're gonna help India and some other countries? They don't need our help. They just grow, they don't need our help. They don't need our help. They just turned on their own homegrown nuclear reactor. We haven't done one in 20 years. But are new, yes, we call them Gen 2, Freeberg. These new reactors would that not be a possible path if we're

spit-bowing here to help them get more energy independence from Russia? Wouldn't that be a great long play? They don't need our help. I don't think you're understanding. Like it's like you're thinking like we're like Michael Jordan and we're about to teach some kid how to throw free throws. This is not what's happening. Any help would be helpful. I mean, if people are trying to build a large, that's not correct.

You don't need a numb nuts to come and help you build a product to you. You don't hire some two-bit product manager to help you when something is scaling and working. India GDP is going to be 7% a year. They're off to the races. They're on a rock ship. They're doing everything right.

What can we do? We can help them rewrite their laws to make them Byzantine so nothing gets done. So they're zoning everything right. What can we do? We can help them rewrite their laws to make them Byzantine, so nothing gets done. So the zoning is impossible. Okay, as a strategy, if we had the ability to build nuclear reactors in other parts of the world, which is exactly China's policy, that's the belt in strategy.

I think you and a nutshell right now is summarizing why there's this dismissiveness, which is like, we can help them, but what makes you think you're better? China's taken the same approach. I'm saying copy China strategy, which has been to go to other countries, but India might need less help. Other countries might need more, but we have this capacity. So what if we have capacity? Do we have? We don't have any demonstrated capacity in nuclear. We have plenty of companies building these new nuclear reactors. Freeberg. None of them work. None of them work. What do you mean none of them work? None of them work. Okay. None of them work. When you talk to politicians in a lot of these countries,

what you describe as Americans coming in and helping, they describe as exploitation. They call it exactly China strategy or neon imperialism. Yes, they call it Neon Periodism or Neon Colonialism. I'm looking at it as collaborating on energy independence, broadly speaking. So you're being objective about my concept. I'm just going to think of one thing. Do you want the Zimbabweans to fly in and mutually collaborate with you to build something in America? Would you be open to that? Trying to make jokes about me. I'm proposing a strategy here. I'm not making a joke. I'm just saying I'm making a joke. I have a very viable strategy here is, which is to look at what China is doing.

And what China is doing in the Belt and Road strategy, which we've talked about here on this program, is trying to help other countries get more energy. How could we do that? I'll tell you. Listen to what Larry Summers said. Remember he said that when China goes abroad, they give money for infrastructure, bridges and hospitals. When the US goes abroad, we give a lecture. Which is exactly no.

If you want to accomplish what you're talking about, stop this explosion of sanctions. We're now sanctioning dozens of countries. Stop weaponizing the dollar, stop militarizing the dollar, stop seizing other countries reserves without any due process. We're talking about Russia right now. They're in touted due process of law, just like any other country. The country that invades their neighbor.

So you get to just get to steal their reserves? Oh, I think it's a pretty good idea. I thought we're a rules-based order. Oh, I think you can't just think. You can't just think. You can't just think. You can't just think. You can't just think. You can't just think. You can't just think. You can't just think it's are much better than yeah starting a war. Yeah, I think I think I can have sanctions on the great. We're talking about we're talking about the seizing of

another country's foreign reserves, which is what the US did. Yeah, I would say that's an extreme thing to do except in the case where people are invading other free countries and then it's okay. So what you're doing right now. Yeah, this is the way that the administration reacted what you're doing right now is making up the rules. That's what the rules based order means to these countries. Yeah, Americans will make up the rules. Two years ago foreign reserves were something that was not part of American foreign policy. They were at your reserves. Then this Ukraine war happened. By the way, nah, you know, those are Elgatan Gaiden season. Those are the new rules. In other words, the rules based international order is whatever American say it is. And then you run around saying, no, no, no, no, I think the entire way, the entire West made this decision together to sanction Russia.

It wasn't just the US, you're mischaracterizing that. And you know what? If Hitler was invading other countries or Putin or any dictator, I do think it's fair game to seize their resources. The rest of the world's not buying to this narrative. 70% of the world does not buy into this narrative. They understand that the US court is taking our country. And those are majority dictator countries.

70% of the world's population does not believe this narrative about the Ukraine war. They understand that the US is at least equally responsible for this war. Laffable to say is at least equally responsible for this war. Laughable to say the US is equally responsible. You don't believe that, but that's what the rest of the world believes. That's what the rest of the world believes. That's what the world believes.

That's what the world believes. That is, you are a spokesperson for Putin if you believe that. There is a polling show in this. There is a polling show in this. But it's possible. Okay, you know what? You can quote any polling you want. The US is not 50. The press country believe this.

The US is not 50% responsible for Putin invading Ukraine. That is laughable and disgusting. Every country. That is just gross. Every country that wants to. You actually believe the US is 50% responsible for Putin invading Ukraine. Unbelievable. It's not about what I believe.

It's about what the world thinks. Why am I asking you what you believed? You said it. So do you believe 50% where we're 50% responsible for Putin and painting Ukraine? That's insane. I don't know what percentages I would describe, but I believe this is worse. Pick a percentage. Can I finish my point?

Can I finish my point? Go ahead. The way you're acting right now is exactly why all these countries want to create bricks. They don't want to be subjected to this virtue signaling foreign policy by the United States. We've discussed the ways many times the US could have avoided this war. It did it. Yeah, respectfully disagree. Putin's response before the war. This is why India does not want to be subject to the whims of people like you. You don't say people like me. I think the West made the decision that we needed to take action against the U.S.

and the decision and listen, the West is we don't get to make decisions for the UK and France and Germany. We don't get to make their decisions respectfully. They make their own decisions. That's not really true. Okay. The U.S. runs all of a sudden. I think they think they're so much more interesting. The U.S. runs NATO because we pay for it. All these countries go along with the US because they like the defense and security that we provide. The US calls the shots and within the US the Biden administration calls the shots. So basically a handful of people in the Biden administration, Biden, Newland, Blinken, Sullivan, that's who makes the policy. And the rest of the world does not want to be subject to their wins.

I respectfully, I don't think Biden gets to choose with Germany and France and the UK. Oh, I think a lot of shouts have eventually been voted out. And I think that's going to be voted out because there are people who are waking up. Absolutely. They are the lapdogs in the United States. We would like to go on to any of the topics. I want to talk about the summit next week. I'm really excited. Sure. We're coming in hot to the summit.

Kicks off next Sunday. I'm really excited for everyone that's going to join us. Obviously, we'll be putting out videos of the content as quickly as we can. J.K.L. has, I don't know, Sachs and Chimath, if you guys are aware, but he is in charge of the parties. We'll be having a party. He has gone of a party. Well beyond budget on these parties.

That's not going to be outlandish. They're going to be outlandish. They're going to be out of control. Show the three posters. Let me show you the posters. There's a poster explain everything. Night one is our 007 party or our bestie Royale, if you will. And here is bestie Royale presenting on Sunday night, bestie Royale. Where where your best spy outfit, you could be Austin Powers, you could be Daniel

Craig, you could be Sean Connery, you could be Charlie's Angels, any spy, you can be, and here's Bestie Royale. Come in at you on Sunday night, a little poker. Here is the closing night party we're going out of order. Bestie Runner, Cyberpunk Rave with the Besties announcing Grimes will be Deejing. So we will have grimes doing a set at the bestie runner price. That's awesome. That's gonna be fun. And so where are your best cyberpunk? It could be fifth element. You could go with any side.

Can we just say, can I just say I give up right now because Claire is gonna win? Of course she is. Yeah, she's okay. She's like, it's not even worth trying. Well, I'm just gonna come and see if She's going to play it around every day. Played around every day. But we'll have some neon stuff for you to put on. Is it going to be cold outside? No, this is inside and this is occurring at a film studio. So we have three warehouses at a film studio where we've procreated part of the set of Blade Runner. Some incredible Asian street food will be done. Let's also. It's going to be great.

And then Monday night is going to be absolutely below the door, sad. It's fast times at barby high. And here we are. Where are your best spikoli outfit, your best surfer outfit of any kind or. Sorry, will this be outside? This is going to be outside. We have a tent for the VIP party to be coaxes. You should, well, we'll see what the weather is. It's going to be warm. It's going to be outside, we have a tent for the VIP part. So it will be courses. You should, well, we'll see what the weather is.

No, it's going to be warm. It's going to be warm. So you can wear your bathing suit if you want. Just wear a trench coat over it, Tremoth, if you're going to do a thirst trap, live an in person. And Mick will be DJing again, so the dance floor will be lit. Just because we went well over the budget, we brought in some sponsors to help us cover the costs.

I want to thank those sponsors, I Connections, which is actually running the app that we're using to coordinate the summit, our law firm that does the legal work for us coolly has agreed to sponsor. And there's a group of entrepreneurs from South Africa started a company called House of Academias. They make macadamia and snacks.

Delicious. They're sponsoring the, and you know why they reached out? Because Chimath and I eat salt and vinegar pistachio, so they made a salt and vinegar macadamia bag in our honor. Oh, I love it. Oh, I'm just a vinegar like this episode. And then we've got a group called Pavice,

which makes mineral based sunscreen. And obviously they heard us talking about sunscreen, so they reached out and Bruberd, which makes a coffee brewing device came in and wanted to be a sponsor. So a lot of the sponsors came to us having heard about us talking about something on the show and it was very helpful in helping us cover the cost of the event so I want to say thank you to all of them. Thank you guys. Thank you. Thank you to all of your sponsors. Thank you so much. I'm sorry. Kind of. And then we're doing a high and low thing at Thanks, Martin. I'm sorry, kind of.

And then we're doing a high and low thing at, we're have incredible food trucks where we've elevated the food to like a higher level. And so we want to pair these food trucks with some nice wines. And so they sent you a list of all the different foods. And then a bow is doing the steak at the first night. Roku sushi, really great sushi place in LA

is doing the sushi the first night. So we got some really great vendors and all the Asian street food in the bladed runner party is gonna be great. So Asian the last is doing the sushi the first night. So we got some really great vendors and all the Asian street food in the blade runner party is going to be great. So Asian the last night, steak and sushi the first night and then these elevated food trucks that they don't like. So what is my year to do this? I'm your 24 year for.

Yeah, I'm 24 year 25. I'm just going to tell you in advance that I'm taking full complete control. You all you will have to do a show up. I don't want Please intervention. I don't need to be in the place after the share. I'm not sure. I'd please leave me out of it Great. I'm taking the sax approach. I'm showing up. Where are you going to do it Jason? I have three ideas. Where's the biggest grift Brooklyn? Exactly. Tokyo. Well, I'll take you through it Brooklyn my hometown is one So that's in my mind. My favorite city is Tokyo. You know, I love going to Japan. So that's in my short list. And then on the Griff side, UAE might be great to have some partners there. And so that could be

amazing to do it in Dubai as a, you know, Dubai would be nuts. Dubai would be kind of crazy. My friend Andrew Sassoon is in charge of opening, I think it's the winds, because you know, there or you see charge of all the entertainment and light and I would be incredible. Sassoon can light it up in Dubai. See, I also took you off the table, because I had the sense that you're off my pillow.

I'm seriously, I mean, no, no, no, no, no, no, I may go to Oman, I may, but I'm going to go to do a destination thing, which is going to be everybody will stay in the same place. It'll be a much smaller Number of people and it'll be end-to-end curated and 750 500 people. They'll be clothes. They'll be everything. Okay, four The Sultan of science with his sunglasses on the dictator the architect. We'll see you all next time on the All in Focus. Bye bye. open-source it to the fans and they've just gone crazy with it. I'm the US, I'm the queen of kilowatt.

I'm going on a leash. What, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what, what am the cashier, we meet the athletes. We should all just get a room and just have one big hug, George, because they're all Christmas. It's like this like sexual tension that we just need to release some time. What, you're the big, what, you're the beer of beef. Beef of beef? That's good, good. We need to get买 cheese aren't there. I'm doing all of it!

I'm doing all it.