PBD Podcast - EMERGENCY PODCAST - PBD MAKES MAJOR ANNOUNCEMENT

Starting point is 00:00:00 I know this lies men for me. Yeah, why would you plan on delay it when we got that day? The value came in giving values, contagious, this world of entrepreneurs. We can't no value that hate it. I'd be running home. You look what I've become. I'm the under one. All right, so podcast here. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur.

Starting point is 00:00:26 I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur.

Starting point is 00:00:34 I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur.

Starting point is 00:00:42 I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm the entrepreneur. I'm reading the message and the text at the same time. We got some announcements to make today, which is pretty awesome. I'm excited about this. I've been working on this for 13 months, and it's official. I make it here momentarily. Well, I've been in 13 years. 13 months, but in a dream since 13 years old.

Starting point is 00:00:54 Well, 13, 14 years old. But we got some stories. Let me first tell you what the stories are, and then we'll get right into the announcement. How about that? I don't know. We said sports. I was wearing a Joe Barrow jersey. I saw you wearing a Aaron Judge

Starting point is 00:01:05 as that I put on the roof and you. I'm a man. I'm a man. Can somebody send Adam a jersey? Please. Why Adam get like 50 jerseys this week? I was wearing a wife-beater and you made me put on a jersey.

Starting point is 00:01:16 Well, because I want you to stay married. That's the whole like area. I want you to stay married. So anyways, here's some of the stories we got. We haven't talked to the economy for a while. This last week we had some guests on that, one of them was against delegating, and the other guest that we had on was a brilliant comedian.

Starting point is 00:01:32 And if you know, if you watch the podcast, you know who I'm referencing, but it was a blast, both of them. Yes or no? Amazing. Oh, yesterday, yesterday's guy? Anti-delegate. Anti-delegator Jeff, he gave me a book sign book.

Starting point is 00:01:42 I love that. That's what, chances nine and 10 stuck together. It was crazy One of the funniest in the his sense of humor on the way he took it. I was so I was I was in no anyways. Okay, so there's a fight yesterday Shift didn't have a good day yesterday everybody. It's listen today. It's about firing everybody, you know Indyting everybody and silencing everybody is just a mess right now in politics, which makes for entertaining news. So we can talk about that. MSNBC president has opened to a Trump town hall,

Starting point is 00:02:12 angering liberals, which if you know what happened to Alaska, who got fired, maybe this can happen to this guy as well. Economy, Adams got some stuff to talk about the economy. The SMP is back to its numbers. If not even better, record breaking numbers and ever before, does this mean, you know, all this stuff about the economy the s m p is back to its numbers if not even better record breaking numbers and ever before does this mean you know all this stuff about the financial crisis not going to be happen and we'll find out what he has to say

Starting point is 00:02:31 zucker berk wants to fight to elan which is interesting to see what happens there pentagon what is the most money folks you ever had missing i want you to think about this what is the most money you ever had missing rob what's the most money ever had missing like you Rob, what's the most money you ever had missing? Like you were like, where's that $100?

Starting point is 00:02:46 Where's that $1000? Honestly, $65. I just lost it the other day and I was really bummed out. And then I saw this story. Well, $65,000, the Pentagon accounting error provides extra $6.2 billion to Ukraine. No, you don't say. And they're not even asking for it back. They're just saying it's future money that we're going to make to you.

Starting point is 00:03:04 Such great people. I mean, when you think about this kind of things, you almost want to be Ukraine to get the aid that you're getting. Anyways, so Zuckerberg's master plan to kill off Twitter revealed. It's pretty dark, but we'll talk about it. FedShare sees a long way to go on inflation fight. BlackRock and JP Morgan helped to set up Ukraine Re, a bank, vacant office or power and up Silicon Valley. Progressive leaders encouraged to buy media outlets for boosting influence over Americans. By the way, great strategy.

Starting point is 00:03:36 Unfortunately, there is no conservative leaders encouraging them to buy media outlets. So you got to give it up to these progressives. US housing starts surge, most since 2016, exceeds all estimates. We'll talk about that. Housing shortage fuels, price bidding wars, as homes for sale hit record low. And we got a couple of feuds here. One is the one between Kevin O'Leary and Mark Cuban about woke. Disney's got the elemental, which features non-binary character flaps in open and weekend. We'll talk about that in whatever's going on with this Titanic missing, you know, it's just some strange stuff and some homelessness

Starting point is 00:04:11 cities and apparently officially this week the richest man in the world is no longer a lot of us. What? Who is that? Renault. It's officially Andrew and Tristan Tate because they own It's officially Andrew and Tristan Tate because they own 21 million bitcoins. Really? They're worth $600 billion according to this hard. Oh, wow. And where is our bit going? Oh, my God. We covered that as well.

Starting point is 00:04:33 Anyways, let me tell you what the announcement to me is. Here's what the announcement is. Oh, nice. So what went for foot? Not everybody. Just everybody knows. The only person here that knows is Tom. No one knows.

Starting point is 00:04:41 It can be asked of you. Yeah. And you should give Kudos to Kelly and everybody that's out there. I've been, I've been like, I've been, I give kudos to Kelly and everybody that's out there I've been I've been listening to fight five I've been God shut but don't know I listen I swear to God on everything that means anything to me I've been trying to find in for me. I'm like listen. I'll take you to dinner. I'll give you I'll say I'll then

Starting point is 00:04:57 Give me a hint they're good at The dinner last I sort of got you to tell me anything and I was like I go patching me proud of you I started you promising dinners, probably not. So here's what it is, guys. From the moment I came to America and as a kid, having a dream, sports, all this stuff, reading daily news, reading L.A. Times, following basketball, magic versus Jordan,

Starting point is 00:05:22 have won finals in 1991 or you know baseball relating to who Wang Gonzalez was, a Texas Rangers, my height to swing. I wanted to emulate or Or the Mickey-Manel card that you know, I wanted one day and I got a few Mickey-Manel cards or you know The dream of Babe Ruth cards. Oh my god, babe or this or that or football all these things Dream of Babe Ruth cards. Oh my God, Babe or this or that or football, all these things. This has been in the works. It's been a dream.

Starting point is 00:05:48 It's crazy. I got a call last year about a conversation of if I have any interest of being a minority owner of any team. Stop it. Oh my shut up. And stop it, babe. I at first, I was going back and forth. So let me get my lawyers involved.

Starting point is 00:06:04 We got the lawyers involved. We got the lawyers involved and After the lawyers getting involved and I'm like is this real are we doing this? Are we not in yes and then we appears the options said no? I'm not interested in this not interested, but there's this one option this man who was on the board of this team He's coming up for Retirement and he wants to sell his shares. Would you entertain this? I said sure so anyways long story short effective last Friday after background checks with MLB after 40 articles that have written after all of these things that's happened effective last

Starting point is 00:06:36 Friday. I'm a minority owner of the New York King. Let's throw you up.. There we go. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up.

Starting point is 00:06:52 I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up.

Starting point is 00:07:00 I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up. I have to throw you up What? Lawyer calls the CFO Tony from Yankees. Congratulations, you're officially part of the team. Are you kidding me? What does that even mean?

Starting point is 00:07:11 When I went to the Sholtz podcast, my idea was I was going to announce this on the Sholtz podcast. What? So I'm like, hey, we're rescheduled. I was like, why is it got rescheduled? Trust me, there's a reason why I'm rescheduled. So when I went to New York, it was thecheduled? Trust me, there's a reason why I'm rescheduled. And then, you know, so when I went to New York, it was the best meeting.

Starting point is 00:07:27 Let me tell you what happened. It's the final meeting that determines it all. We've already done a bunch of different interviews. And I'm sitting in a room with Randy Levine, who is the president of the Yangtons. You got Lon here, who's been with the organization since 1975. He's pretty much the CEO.

Starting point is 00:07:43 Oh, he's, you know, he's a decision maker. He's a he's up there big, big decision. He's an American success story. He started at the bottom. He was like one of these guys just selling stuff. Yeah. He's and he made it to the top in session. And he got Tony on this side, the CFO. And we're sitting having a conversation and then how a Steinbeerner walks in sitting here We have a nice 45 minute one hour conversation to tell us about this and what about this and what about that and what about this I said listen guys. Here's the only thing you need to I'm loud have opinions. I you know I love America. I'm a capitalist on this and that's okay great

Starting point is 00:08:17 You know here's how this works and then how gave this and he's the boss and he's this is that Incredible experience got a private tour the entire back. They took us everywhere. Lawn took to the corner office. We sat down, we had an incredible conversation with them. Look, I'm excited about this. This is a dream, this is a part of what, why we do what we do, and it was exciting, man, to see it finally happen.

Starting point is 00:08:39 Do you have any idea? I had zero idea. I thought we were bringing somebody on board, whatever. But the New York Yankees,es, the greatest sports organization in the history of sports, congrats. So, so we're going to games. Well, that's what I was trying to do. That's all we're doing. I'm trying to get it where we're going to get on the jet.

Starting point is 00:08:57 Go to New York, have dinner at 11 Madison, then go to the box. You guys, we're going to meet everybody as it was going to be that whole experience. I'm like schedule keeps,, it's gonna be conflict. I'm just gonna make the announcement today. So that announcement. That is, I'm a little upset, Pat. Because I've been rooting against the Yankees. So, not anymore, not anymore, since the 80s.

Starting point is 00:09:19 Or yours. For yours, yours and yours. Now I'm the biggest Yankees fan. Oh my God. I have to follow the Yankees. How are we gonna root for the Yankees. So what was it like that deciding moment where, well you guys are in the talks and what,

Starting point is 00:09:29 what's that moment where the decision is like, is it like a conversation to a lawyer? Did they hit you up personally? What is that? Oh, it's, it's a, listen, it's a long process. Took nearly 13 months. It's a long process. Background check everything, everything.

Starting point is 00:09:41 Everything, they have to go, it's the MLB, you're a representation of like you have to go. It's the MLB. You're a representation of like you have to. So, but anyways, you know, eventually when this what this is to get in, this is a stepping stone to if you ever want to become a majority owner, now they've done the background. Now you have the run rates. So a lot of the majority owners first start off as minority owners eventually, you know, so I mean the plan is the plan But this was a this was a step. I want to hug you the owner of the red sock started in South Florida as a minority owner of the marlins There you go. So oh my god moving forward

Starting point is 00:10:15 We're wearing Yankees. You Peter over there who the red sock lip guy is like I hate you I can't believe you're doing it and he banged his door Now Peter bang another door. I'm lit. Can I just say you're doing it. Did you hear that? He banged up the door. That was Peter banging another door. I'm blitz. But can I just say one thing? Oh my God. That's only in America. Yup.

Starting point is 00:10:31 That's right. God made in Iran. Yup. Escapes Iran. Yup. 1991. Right. November 2019.

Starting point is 00:10:39 I come here. 1990. Lives in a refugee camp in Germany. Escapes Christian. Any Iran. Escapes everything that's going on with the mullahs. 1990, lives in a refugee camp in Germany, escapes Christian, in Iran, escapes everything that's going on with the Mulas, in Ayatollah, comes here, 1.8 GPA in high school. Nobody thought you would do anything in your life. He didn't think he could exactly just go to the 20% of the army.

Starting point is 00:11:02 U.S. Army veteran. We all know those stories about tanks. So you're doing the Royal Firestone thing from Jerry McGuire and your spirit is right now. No, not at all. This is more of a message to anybody, the victim mentality. Everything you do with PHP, everything you build with value, now you're a part owner, a minority owner of the greatest sports franchise in American history. Oh my god.

Starting point is 00:11:26 Only in America. It's in, it's in the world. There's only about the, the Mount Rushmore of sports franchises is the Yankees are on that. And you're number one. Absolutely. And the most champion ships. And on a global soccer basis, even man, you is below that.

Starting point is 00:11:43 Dallas Cowboys are up there, but this is the pre-minute sports franchise in the world. And by the way, I mean, you have to, so let me tell you what I did in Bremuda, Matt Sipal, if you're watching this money smart guy, when I told you I'm only taking you because I wanted to keep it low key, this is what I was going to take you to. He's like, are we going, are we not going to, he didn't know what was going on. So we're going to still go still go mad just hang tight. I'll give you the dates when I was gonna wait till another day another time But I have something for you really I have something for you. Okay, okay, so I didn't expect this So I wait zero clue what the announcement would be but with the only in America thing being born in Iran made in America

Starting point is 00:12:23 But what people don't know, I mean, people know, but if you peel back the onion of PBD, you're a proud Armenian Assyrian. Yes. Right? Very. Your father is Assyrian, your mother is Armenian. Now, Armenians still exist.

Starting point is 00:12:39 Yeah. Assyrians, the Babylonians, everything that was going there. We're scattered there. So I was just in Israel. I went to Jerusalem. I actually FaceTime, you're like, like, I have to, I have to. He's like, I'm buying the Yankees. Leave me alone.

Starting point is 00:12:50 But I don't know anything about Armenian culture. But I went to the number one culture store in all of Jerusalem Armenians. I FaceTime do it to the lady. I said, I want to get this guy something special. I don't know anything about Armenian culture. Get me the best thing here that this guy would love and appreciate.

Starting point is 00:13:08 Can I give it to you now? Sure. All right. Yeah. See what it is. Oh, let's see what's going on with it. See what it is. Here we go, sir.

Starting point is 00:13:15 Oh my god. I've already opened it up a little bit, so you don't have to spend all your time opening it up. This is it. There's a few things. They opened up the big one first. Guy. So there's three things in there.

Starting point is 00:13:28 So she said, she thought you would love something like that. This is from Jerusalem, the basic Indian section. And Jerusalem, it's called the Cotel's Four Corners. There's the Armenian section, the Jewish section, the Christian section, and the Muslim section. And this was the number one store in all of the Armenian section. This is the Lord's Prayer in Armenian. Wow, that's very good.

Starting point is 00:13:51 From Jerusalem. Wow. From Jerusalem. I guess this isn't saying thank you. That's all I got. I can't read good. Even in English. I can't read good.

Starting point is 00:13:59 I can't read good. You know, sometimes you know, someone gets like a Chinese tattoo and they think it means like a got a free spirit. Yeah. And then it turns out that it's something obnoxious. That's awesome. I guess in Armenian culture, this is a symbol of life and peace and prosperity. Yes. The peacock.

Starting point is 00:14:17 It is in every, pretty much in every Armenian home. Yes. Yes. Do you have anything in this room? I don't have anything like this here. I'll never be. I appreciate you, man. You're the man, baby, do you have anything I don't have anything like this here? It is not here, but I appreciate you man. You're the man, baby. Thank you.

Starting point is 00:14:27 And there's one little extra thing in there that she threw in. She's like, since you've done all this, let me throw in a little extra action. Armenian pipe. Why would you give me an Armenian pipe? Hey, I want you to smoke up. She's, I look like a pipe. That's the latest. But it's not.

Starting point is 00:14:40 That's amazing. Well, thank you, of course, brother. Of course, brother. I want to appreciate it. I'm not going to tell you my shares to the Miami heater and anything like that, but it's the least I could do. Oh, okay. But I think I could speak for the whole team.

Starting point is 00:14:51 We are super proud. That is so awesome. And everything that we got. Well, listen, you know, none of this happens. It comes with a team. We've had some great people over the years. This wouldn't happen with our Tom. This wouldn't happen without the Jen being on my corner,

Starting point is 00:15:05 all the PHP people, they know who they are, what they've done, all the value teaming people. It's been a lot of work. This has been an effort for a long time. And by the way, man, you get also give credit to the enemies. I have a book being launched on December 5th, is gonna come out, I'm excited about this book here. The title of the book is called,

Starting point is 00:15:22 Choose Your Enemies, Why is It? I am thankful for all so many of the enemies over the years. Because without you, it would have been boring. It's an exciting game. Here's a crazy thing though. As wild as this is, I am telling you right now, we're just getting warmed up. I wish people knew Tom what we're doing beyond closed doors.

Starting point is 00:15:40 And by the way, it's been a hundred percent radio silent on my side and my phone is getting blown up because a certain girl wants to know if you know anybody because she wants a career in sports and I know I know who she is and she'll she'll get it. The next time we're going she's going to go with us. It's blowing up right now. P.V.D. Do me do me one last favor. Let me tell you yesterday the box we were getting was 16. I said guys, can we get a different box? They're working on getting this box with 36 or 30 people to take everybody there you know it's gonna be great if we walk in there past what we signed up for I'm gonna cry it's gonna be great do me one favor this actually might be the most important message if and when there comes a time they ask you to throw

Starting point is 00:16:22 out the opening All my I need you to pack I'm ready to say Benny I need you to I'll wear the VT journal warm up that arm. We can have a moment Where you're going to go and high left? I'm gonna bring coaches to work on me to say listen work on this arm There's some kind of a 80 mile an hour pitch here. Maybe more like a 45 mile an hour pitch But anyways as Geter said to Obama don't bounce it. They will boo you. That's your story. That's who he told us. Listen, what? Super exciting. Super excited. I want to get into the podcast, but I wanted to make this announcement that we did this. Beautiful. And it's awesome. I appreciate all

Starting point is 00:16:56 the support. By the way, while we're going into this before we get into the podcast, let me roll quick. Give a shout out to the sponsor of this podcast. Masterworks, the economy right now is strange. One minute, it's the end of the world, Adam's about to show the agreed fear index that we'll look at. Next minute, people are excited. Next minute, people are afraid. Nobody knows what's really going on,

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Starting point is 00:18:08 First things first, Tom. Fit share sees. Long way to go on inflation fight. This is a New York Times story. When you turn on the news, you'll see Kramer saying, it's back. All these fearing and all this, it's done. Everything's great.

Starting point is 00:18:23 They're in the base like, well listen, It's only seven stocks that are driving the mark. No Stop being pessimistic things are great. Look at what's going on They're not raising the rates anymore. Here's what Powell says Powell address lawmakers stating in the United United States has a long way to go and tackling inflation power Infacized inflation pressures continue to run high and the process of getting inflation back down to 2% has a long way to go. The Fed's recent decision to keep interest rates unhained, unchanged, after a series of increases does not indicate victory over inflation. Power-explain, given how far we've come, it makes sense to move rates higher, but to do

Starting point is 00:19:02 so at a more moderate pace. We compared it to slowing down as you get closer to your destination, seeking a delegate, balance and cooling economic growth, without overdoing it, the central bank's economic projections suggest the possibility of two more quarter point rate increases this year. So Tom, when you hear this story, you see where the S&P's at you see what a market's at Are we done with the market crash? Should we still stay paranoid? Are these rates done going up? You know our property value is gonna go up? What's really going on with the economy? Well, I want to give I want to encourage everybody to think of it this way

Starting point is 00:19:40 Think of the economy right now in three chapters Think of the economy right now in three chapters. Chapter one is the financial economy. You look up and you see the stock market doing good. Oh, the S&P 500. It's not far off from an all-time high. Why the bounce back in tech stocks. The things that are driving that are much different throughout the economy.

Starting point is 00:19:58 And we'll just, and I'll bring it up to one point. Do you remember all the people that were laid off by tech? Those people represent expenses. So now these tech companies have less expenses. Some of them haven't seen revenue up a lot, but if you have the same revenue and less expense, you have more profit, the stock price goes up. So that's what's going on.

Starting point is 00:20:17 It is tech driving the stock market. Now that economy doesn't translate to the personal economy because for those stocks to about back what do we just talk about a bunch of layoffs. So there are people that are hurting and we're going to talk a little bit later about amazing things are going on in commercial real estate and housing in California as a result of that. So the financial economy is one thing and you see at the stock market the personal economy is quite another and we just talked about how layoffs are impacting people. Now you step back to the housing economy, which is directly connected to the personal

Starting point is 00:20:51 economy, because everybody needs a house, whether it's rent or whether it's buy. And right now, the Fed is still impacting the personal economy, because interest rates aren't going to come down with allowing people to buy more houses for a while. And the Fed is saying we think it's slowing down but they are probably going to raise the rate in July and then skip and then raise the rate in October. What that means is this 7% mortgage we're seeing right now. Good credit, 30 year fixed, is still 675 to 7 right now. That's probably not going to change, which means you're still have pressure on housing. So what's going on? Remember, you're actually seeing three pictures

Starting point is 00:21:30 at once. You're seeing the stock market, you're seeing the housing market, you're seeing the personal market. So, but here's a part time that I got to bring this up for the real estate people because they're giving this argument and you got to give them credit. So on page 17, if you want to go to it, housing shortage fuels price bidding wars at homes for sale hits record low. Housing shortage fuels bidding wars as homes for sale hit record low.

Starting point is 00:21:56 US housing market faces a record low inventory of homes for sale with 1.4 million available homes in May, sparking intense bidding wars, redfin attributes, the shortage to homeowners feeling trapped by rising mortgage rates, resulting in 7.1% year-over-year decrease in home inventory, in May, 37% of homes sold above listing prices, raising concerns about escalating bidding wars, new construction reached a three-decade high driven by the motivation of builders to meet the man amid low existing home inventory. And at the same time U.S. housing starts surge most since 2016 talking about what's happening there in May all of us under largest margins since 2016 with a 21.7% jump to a 1.

Starting point is 00:22:42 63 million annualized rate 21.7% jumped to a 1.63 million annualized rate, surprising all economists' projections. Single-family home building also rose by 18.5% to reach an 11-month high. When you see these numbers, what is this telling you? So there's an interesting puzzle to break in here, but it'll make perfect sense with a few simple points. Point number one, when they say 37% of homes sold above lifting prices, they don't tell you that that was the fewest number of homes sold in four years So 37% of the fewest home sold so there's actually not a lot of sales going on for one simple reason Vinnie if you had a 3% mortgage and you say wow

Starting point is 00:23:18 Maybe I'll sell my home and make $300,000 on it versus what I bought then what then what do you do? You have to go get a 7% mortgage on your new house or a high rent or lease price if you want to do something in the interim. You're not going to do that. What do you do? Staying a 3% mortgage home. You're also going to delay retirement moving to Florida, Arizona or Palm Springs, and you're going to keep your home for, you know, maybe we'll just wait a year before we

Starting point is 00:23:42 downsize and move. That's happening. So the first thing is happening, There's not enough houses on the market So the this and when there's few homes on the market, it's a shortage and prices go up Now then you've got 7% interest rates, but prices are up So the home builders are saying now wait a minute inflation makes labor up to build a house It makes materials up build a house But if Pat and I had a house building company, we would say,

Starting point is 00:24:09 hey, Pat, prices are at an all-time high, and the Fed's not lower in rates, probably for a couple years. Pat, we could start houses right now, because there's profit to be made, because we're not going to be selling them at low prices. We're going to be selling them at high prices. Pat says, you know what time you're right? Let's see if we can get permits and open up another home there at homes and a little development to build. So the home builders are seeing high prices as an opportunity to build and make profits. At the same time, many people are standing in their homes not

Starting point is 00:24:38 selling them. So there's a variety of headlines going around in there, but the moral of the story at the end of the road is the housing market is constrained, but builders see an opportunity to make a buck. Can you pull up this link? This is Jerome Powell. He's talking about the interest rates and one of the folks from Fox Business, go to 37 minutes and 10 seconds if you can,

Starting point is 00:25:02 ask some a great question, Tom time and you have to see how we respond because right there perfect i want you to watch as if you can there you go watch this real quick with the question that's being asked of them thank you for taking the question i'm mr chairman Edward Lawrence with Fox Business so i want to go back to comments you made about in the past about unsustainable fiscal past the cbo projects the federal deficit to be 2.8 trillion in 10 years. The CBO also says that federal debt will be 52 trillion by 2033.

Starting point is 00:25:31 At what point do you talk more firmly with lawmakers about fiscal responsibility? Because I'm assuming monetary policy cannot handle alone the inflation or keep that inflation in check with the higher level spending? I don't do that. That's really not my job. We hope and expect that other policy makers will respect our

Starting point is 00:25:50 independence on monetary policy. And we don't see ourselves as, you know, the judges of appropriate fiscal policy. I will say, and many of my predecessors have said, that we are on a non-sustainable fiscal path and that needs to be addressed over time, but I think trying to get into that with lawmakers would be kind of inappropriate, given our independence and our need to stick to our knitting. You can pause right there. By the way, what an answer. He's right, but you know what he's asking him. He's asking him, all this work you're doing to lower inflation. But Congress keeps pumping out money into the economy.

Starting point is 00:26:30 It's as if you're no need it. Like, like Congress is telling Powell, yeah, everybody says you're the most powerful man in America. No, you're not. We're the most powerful men and women in America. Not you. Paragraphs. They can give you as much recognition as they want, as long as we pump money into the economy, the economy and the market's gonna keep going up, and it's gonna be fine. It's like, this is not a healthy. We keep delaying the pain that we gotta go through.

Starting point is 00:26:57 Nope, let's go into that. Nope, let's go into that. So as much as everybody is celebrating right now, this is going back, by the way, to all the realtors and loan officers. Congratulations to you, but guess what? We're going back to fake success again.

Starting point is 00:27:11 So this time around, to some of the folks that made a lot of money and had a lot of fake success but didn't save it and you lost it all, this time around, instead of jumping into that Rolls-Royce a little too early, wait three years. If you can make the same amount of income three years in a row and you start having some investments that are paying you outside of just your refinance and houses, you're selling, get tighter with your own investments. I got friends that did it right. They're not affected at all.

Starting point is 00:27:40 Matter of fact, they're doing great for them, so because they made the right investments. They're okay. But some of the guys that lived a fast life, they lost everything in their in a bad situation, unfortunate, I've been through this when I was my early 20s and I made the money and I was like, boom, just think this appeared, wait a minute, what was this all about?

Starting point is 00:27:55 You got to learn that lesson. And last but not least, if there's more inventory, it's there's less inventory, that means they're not selling more. Here's the other question top The same loan that I'm getting if prop values are going up. Oh, that house was 400,000 out 700,000 700,000 out one million did my income also increase? By 40% has the median income in American crease

Starting point is 00:28:20 Nope It is the average income that we all of a sudden get a massive raise in our salary Are most people going to be able to afford these increases to buy those homes? I don't think so So we're still it's still going to be early on what to do with this I know you have some thoughts on the economy if you want to kind of go through your Fear greed index and kind of share with us your thoughts on that point backhand ratios You know what backhand ratios are and you're being a Valuated for alone, but a lot of banks had gone conservative down to 3235 and what we're reading now is banks are up to 40. So we cover the fear greed index from time to time, right? Basically be fearful when people are greedy, be greedy when

Starting point is 00:28:59 people are fearful. And we referenced this, you know, monthly quarterly, quarterly, what have you. The last time I think we did this was maybe like quarterly, what have you. The last time I think we did this was maybe like two, three months ago. I remember six months ago, it was extreme fear. I don't check this every single day, I don't check the market, I used to, red green, red green, red green, red green,

Starting point is 00:29:16 and everything like that. I checked it today. No clue what to expect, did not know where the fear agreed index would be. Let's take a look at where it is today Boom extreme Greed 79 actually a week ago is I think 83 scroll down just a little bit Okay

Starting point is 00:29:36 Keep going Now go back up. All right Oh, it should say it on the right there. Yeah, is. So one year ago, one year ago in the economy, 26 extreme fear. Okay, people were paranoid. Last year in 2022, the market, the S&B 500 was down. What Tom, 18%? Incredible.

Starting point is 00:29:55 Okay, down 18% recession, two consecutive quarters of negative GDP growth. Is it a recession? How do you define a recession? The White House has changed their definition. They're moving the goalposts, what's a recession? I don't know, the housing market. Post-cognitive.

Starting point is 00:30:09 What's going on right now? Where'd my profits go? Yeah. But slowly, but surely, chug, chug, chug, chug, chug, chug, US economy bounced back, baby. So right now, I think as of today, 2022, the S&P 500 was down 18% for the first six months of the year. I think we're up 15% We're closing in on

Starting point is 00:30:29 All-time all-time highs again. I remember in 2020. Do you guys remember this? Stock market was approaching 30,000 It's March 2020 Boom COVID hits blacks want event. You don't know what to expect market tanks down 35% You know you're in a group chat with all your friends is like yeah I heard about this a couple weeks ago. I got out people are like fuck you. Why don't you tell me buddy? Like now I got out of the market and pulled my cash out boom six months later

Starting point is 00:30:57 Markets back and then some record highs Okay, so people are like well should I have taken an out have not, you know, they say it's not about timing the market, it's about time in the market, play the long game, I'm not a day trader, I'm a decade trader, that's how investing works. I know so many day traders who claim they make millions, but I know so many who lose so much frickin' money. You're bottling that's very good feedback you're given.

Starting point is 00:31:21 You ain't lying, if you're playing the long game, you're gonna be fine, if you're a day trader versus a decade trader, what a statement to say. If you're a day trader versus a decade trader, what a statement to say. I'm not a day trader, I'm a decade trader. That's the best way to look at business, life, parenting, relationships, friendships, investment, portfolio, it's a very good feedback there.

Starting point is 00:31:38 Thank you, sir. Can I give one more thing? Okay, so, you know what I say, the whole premise is buying the S&P 500 just wide by individual stocks, when you can buy the entire market, right? Why'd be an active investor? You can be a passive investor. And basically just keep your money in the market and just don't look at it and just look at it 10 years later, holy shit, a millionaire. That's what happened to me. So, um, but you know, remember, Tom, was it FANG FAANG a handful

Starting point is 00:32:03 of years ago? That's everyone's obsessed with. Thank God. Yeah. If you added one more. And that was what? Facebook, Amazon, Apple, Netflix, nobody's using that anywhere. Right. And then Google, and then what did they add to that? There is Amazon and Apple.

Starting point is 00:32:16 And Amazon and Apple. So now, not the acronym guy. And now the new number is Ammonent, okay? Because there's seven stocks that are basically carrying the S&P 500 these days. These seven stocks make up 26% of the S&P 500 total weight. These seven stocks, which I'll give you right now, this Aminant, Apple, Alphabet, Meta,

Starting point is 00:32:41 aka Facebook, Microsoft, Amazon, and then the new darling of the last few years, Nvidia. Nvidia. And then you got Tesla, which basically bounced back. We all know what Elon Musk is doing. 107 in January. So, interesting to me, we just talked about in 2023, in the last six months, the market's up 15% after last year's down 18%.

Starting point is 00:33:02 But if you eliminate those seven stocks, right, from the overall numbers, the market will be down close to 1%. So those seven stocks are basically carrying the market. But this is why you need to buy the entire market because let's just use one case as an example. I'm going to borrow your terminology case example. If you were shorting meta, because meta last year, they changed their name from Facebook to meta, disaster, everyone thinks they're gonna be parting and the metaverse hold on.

Starting point is 00:33:32 Let me buy some real assets. Meta was down 64% in 2022. 64% people were calling for the death of meta. What do you do in Mark Zuckerberg? You freaking idiot. Changing your name Facebook to meta. What's meta's stock price up this year? 98.5% bounce back Facebook meta.

Starting point is 00:33:51 So after laying off how many? Yeah, thousands of people on many layoffs are profitable. There you go. So um, play the long game, my friends. That's how you do it. By the way, did you guys hear about what Twitter just did? Did you hear the news about Twitter time or no? This morning, I'm breaking this This morning, this is the amount of employees now they have based on CNBC.

Starting point is 00:34:12 Rob, I think I may have even texted you this. Type in, there you go, right there. Click on that right there. Twitter time, look at this. Tell me this isn't crazy. Twitter is now down to few to 500 and 50. What the fuck?50. What? What?

Starting point is 00:34:26 What? Twitter. So zoom in a little bit. Internal record show that Twitter has shed about 80% of its employees since the Elon Musk took over. Headcount is hover on 1300 full-time employees today with Fywooden 550 full-time engineers. One former Twitter engineer says that the remaining team will be spread thin and will likely have a hard time maintaining the service

Starting point is 00:34:45 while adding new features in addition to 13-hour full-time employees, the new one or COE law mask has authorized about 130 people from its other companies, including Tesla SpaceX and the boring company to work for the social media business. Think about that when you create this unique culture. Question came about on one of the masterminds we were doing this week. A guy says, you know,

Starting point is 00:35:07 matter of fact, no, it was actually a conversation I was having yesterday with a good friend. A guy says, you know, what are you doing in a situation like this when you're taking over a company and you're Elon, okay? Do you fire everybody? They don't like working for a guy like you where you're not letting people work from home. You want people to be there every day. You want people driving. All of a sudden, like, they see you're not letting people work from home, you want people to be there every day, you want people to drive in. And all of a sudden, like, they see you as a dictator, Elon. They don't see you as a, what's the word, a, uh, understanding, compassionate, empathetic, yeah.

Starting point is 00:35:35 You know, somebody who values lowering anxiety and all this stuff, listen, anxiety, if you are afraid of anxiety and, and mental issues you go through, don't join a startup on don't work for a founder. Let me say that one more time. If you're worried about your anxiety, never work for a founder, never be part of a startup. Go work for a big company that nobody knows what the hell you're doing when you leave work. If you leave Friday at 2 30, nobody knows that a big company. At a small company, you leave work at 2.30, nobody knows how to be a company. At a small company, you leave work at 2.30, everybody knows when you leave at 2.30.

Starting point is 00:36:08 Some people don't like that, but you know what else is the benefit of working with a guy like you love? Here's what happens when you work with a guy like you love. 5, 10 years later, when there is a going public opportunity or an experience like that, and you're sitting there saying, Vain, did you see how much money just came to these handpicks? People know we're like regular people, that's like a big check, yeah, but don't act like you were. Yeah, so this is a great meeting work,

Starting point is 00:36:32 Paul, why don't you give your mic me back about what's taking place here? Nothing to say here. But you have to, you have to, I asked Peter, I said, Peter, you ever worked with a crazy founder before? Now I like this, ever since I'm like this, I'm like, well, that's what's gonna take. So it's not for everybody, but good for Elon for driving it. I gotta tell you, to me, when I see what's going on yesterday,

Starting point is 00:36:47 I, like, didn't post it a video when I was talking to me to Yassan, and made it sound. What a sweetheart he is. He responded. Can you pull up the tweet with him? He said a sweet guy. On the level of, like, there's a sweetheart.

Starting point is 00:37:00 There's certain words I would say when I think about a guy like this. Like, I would call when I think about it yeah this like they you know they're awesome yeah go up a little bit keep going up it's somewhere in a reaction if you just keep going up uh no you were good yeah keep going up keep going up keep going up he actually made a video back no no he respite he retweeted and he responded to it and I want to rob to show the guy tweets like you know he's tweeted's tweeted 160,000 times, 150,000 times. He's written like 17 Bibles,

Starting point is 00:37:30 is what he's written just based on his tweets. Okay, right there, zoom in, right there on his response. And I have no idea who you are, but since you're asking and assuming, go actually read the book, especially the chapter on Gish, galloping, and then come back to me. All may become clear to you.

Starting point is 00:37:46 Maybe I am enamored by your fame. And I'm so amazed by how amazing and a famous person you are and more power to you. Keep kicking ass what you got going on there. But the point is, when you're talking about all these things that we're doing here with the business, right? When you're going through a certain market, these guys are still defending Peter Hottest. Every day Peter Hottest is tweeting 20 times, sharing articles of people saying why he shouldn't

Starting point is 00:38:14 debate RFK. So, what do you think when somebody, if you go to Peter Hottest, Twitter profile, just go to his Twitter profile. We've been talking about the sky lot because, by the way, Peter, I hope you say thanks to Joe Rogan because we're gonna show the influence of Joe Rogan. Check this out. Look how many followers he's got.

Starting point is 00:38:35 How many followers does he have on Twitter? What's the number 455? Write that down. Can you write it down so we can remember? 455.1. 455.1. Okay, zoom in a little bit so we can see all the tweets skipped that one because that one he's selling COVID. 455.1. Okay, there we go. Zoom in a little bit so we can see all the tweets. Skip that one because that one he's selling COVID.

Starting point is 00:38:46 Keep going. So keep going. Every one of these tweets is about why he shouldn't debate anybody. Keep going, keep going, keep going, keep going, keep going. Keep going. Keep going, keep going, keep going. Jorugans wants a scientist to debate a vaccine denier.

Starting point is 00:39:03 Turning him down was the right thing to do a box Next one, you know, thank you for Peter Hottess for sharing the new piece from Time magazine RFK is a pedaling and Extraordinary amount of disinformation about vaccines on a daily basis. So what's the article Peter retweets RFK is dead wrong about vaccines Time magazine, right? So all right, but pillar of knowledge there. right, so what pillar of knowledge there? Yeah, so now go to social blade, Rob, if you can do that. Go to socialblade, go to socialblade.com. And then go to the top right where it says YouTube,

Starting point is 00:39:34 change it to Twitter, there you go. And type in Peter Holtes, his name. Okay, this is called the power of Joe Rogan. I don't know, you gotta put them together. You gotta put them together. Yeah, just put the name together. There you go, like that. Perfect.

Starting point is 00:39:48 So now watch this. Look at this, go down. Look how many followers he was getting. Go lower, lower, slowly. Go lower, lower, lower. Lower. Oh, it's not letting you. Go lower, go lower, keep going lower.

Starting point is 00:39:59 Right there. He was not getting any followers. All of a sudden Joe Rogan's made him famous. Wow. He's a little bit. Zoom in. Yeah, Peter Holtz has was not getting any followers. All of a sudden Joe Rogan's made him famous. Zuma in a little bit. Zuma in. Yeah, Peter Hotsay was not a household name. I remember the 400, 38,000, 55,000, 13,000, 3900. It's called the power of Joe Rogan.

Starting point is 00:40:17 Something all of these mainstream media people hate that a Joe Rogan has this kind of influence where he says one thing and the army shows up. Who is this guy? And by the way, he helps you find your audience because the people that don't like Joe Rogan say, oh my God, another person that doesn't like Joe Lemico follow him, hey, Dr. Peter Holtest,

Starting point is 00:40:41 I'm your number one fan. So, Dr. Holtest, next time you're in Austin, I don't know if Joe has time, but if you do, if you're in Austin, maybe go to his comedy club, have a laugh or two on the comedians he has there, but what a sweet art community. You think he's sending a Joe Rogan

Starting point is 00:40:55 a Christmas card this Christmas after all? Leave a nice thousand for the waitress they'll be talking about you. Yeah, yeah. But again, you're sitting here wondering who seems like the one that has courage. The one that is questioning authority and the other one that is defending authority. Folks, if you're listening to this, you're part of one of two camps. You're questioning authority that's forcing people to do certain things they didn't want to do.

Starting point is 00:41:22 Or you're defending authority and and you, now listen, I'm not telling you any of my law and order. Of course, there's something called law and order, but some people have four certain things that people struggle. Maybe you want a question and to see if that would work too. Yeah, and it's not like, Pat, like, questioning the authority,

Starting point is 00:41:35 like the authority hasn't been screwing us forever. You got to be on the other side. You know what this reminds me of, when something like this happens, if you have the facts, look at history. If you have the facts, you're running to the microphone to debate and you're fearless about it. When people have the facts, they are after that microphone and they want to be heard. When you don't have the facts, you have all, you get all your people to say, oh, tell

Starting point is 00:42:01 them all the reasons why you shouldn't do it. Tell them all the reasons why you shouldn't do it. You know what it reminds me of Pat? It reminds me of a certain letter in Washington that had 50 signatures on it that said nothing to see here. Yeah, exactly. From the, quote, intelligence community and Joe Biden. It's like, no, no, no, we don't want to talk about it. We just want to look to a letter that says 50 people saying, nothing to see here and all sign this letter.

Starting point is 00:42:23 That's what it does is doing right now. He is out there a coward. Dr. you are a coward and you are having all of your friends just basically embrace, promote and project your cowardice. You refuse to go out and you've got proxies out there saying, oh don't do it. To give yourself the line and the opening not to do it. If you had the facts, sir, and you could stand up to the heat of debate, sir, you would be in the arena. You, sir, are a coward. Vinnie, tell people out there what it means when someone shouts,

Starting point is 00:42:55 nothing to see here. Yeah, like when you put it to everybody in the audience has, when you go up to like something has happened and there's cop cars, maybe there's a fire, somebody was killed, and whenever a cop goes, hey, move along, there's nothing to see here, you know what that means? There was a mob hit, there's somebody that made the stuff so around.

Starting point is 00:43:12 Yeah, there's definitely something to see there. At Aikhtam, I agree, it's like, you are the professional, and you have people that aren't a professional in your field and expert. What are you so scared of? It's the truth, bro. And notice, all those fact checkers, Tom? We didn't have fact checkers until the truth

Starting point is 00:43:26 really started coming out. Now you have to check our fact get out of here, bro. They're all so awful to crap. Nothing to see here. Nothing to see here. Tom, that was a interesting response you had there for our friends over there. But okay, so let's go to the next story here.

Starting point is 00:43:41 BlackRock and JP Morgan helped us set up Ukraine Reconstruction Bank bank this is a financial time story on page fifteen time i'm gonna come to you again today it's kind of like this dark day economy economy economy we haven't had this for a minute black rock and jp morgan chase or collaborate with the ukraine government to establish the ukraine development fund a reconstruction bank aim to attract private investment for rebuilding projects after After the conflict with Russia, the World Bank estimates that Ukraine would require $400 and $11 billion for reconstruction.

Starting point is 00:44:11 They figured that has increased due to recent Russian attacks. The fund aims to raise low cost capital from government's donors and international financial institutions and leverage it to attract significant private investment, aiming for a ratio of 10 to 30 times the initial capital, the development, finance bank will identify investment opportunities, sectors like infrastructure, climate and agriculture to make them appealing to long-term investors. What is this really all about, Tom? Are we tied to this as taxpayers

Starting point is 00:44:39 or is this purely black rock and JP Morgan's money? I don't know. What they're, with black rock and JP Morgan, you're going to't know. What they're with black rock and JP Morgan are going to start with. So they're basically raising a fund. The fund will be private investment and institutions, governments, donors. So when it says government, that means taxpayers. So all this money, they're raising a fund. We're going to put a money in a barrel.

Starting point is 00:45:00 What are we going to do? We're telling you that we can give you, what did they just say? Up to 30X, Pat. 30X. How many people come and talk to us about value-taming investment, group investments? And we're talking to X5X on like startups over the first five years. They're talking 30X. Translation.

Starting point is 00:45:17 There, the banks of the world are coming together because they feel there is going to be a feeding frenzy to rebuild Ukraine. Because we know Ukraine is important, they're the bread basket of Europe farming and manufacturing, they're very important. And once the smoke clears, no metaphor there, the smoke of war clears, this thing is going to need to get rebuilt. And these banks are coming in to build the fund, and some of it is going to be on taxpayers to go do it.

Starting point is 00:45:44 And if any of this fails, if a war restarts or it's trips and stumbles, you know who's going to be the backstop for this? Hmm. Taxpayers, because federal government and the EU and are going to come right back in. If you think the bailout of banks, regional banks on commercial, you know, real estate was bad in America, wait till you see the bailout of a country. So that's what's going on here. They are stepping in.

Starting point is 00:46:08 And you know what? We've seen it before in history folks. We've seen it before. It wasn't a bank, but it was Halliburton that got all those contracts for power stations. Sewage treatment plants. A big infrastructure that makes cities go. Roads, power, power transport,

Starting point is 00:46:29 transmission lines, communications, and power plants. Remember all the contracts that Halle Burton got and people are saying, this is coronism. Dick Cheney made sure all of his friends at Halle Burton got that. Remember all those headlines, remember what's going on? Let me tell you, this is what's going on, but it's just the banking sign that says,

Starting point is 00:46:47 hey, hang on, hang on, black rock, JP Morgan, head of the line, we will make the loans. You need a loan for a power plant, Vinnie, come on in here. We have a fund here. What's the interest on it? Well, we're gonna make 30X on you for the investors. That's what's going on, folks. This is, look, Ukraine needs to be rebuilt,

Starting point is 00:47:05 but this is we've seen it before with Haliburton. There's some favored players that are going to come in here and get it done. That's what's going on. And bro James don't keep yesterday, but this is on page 10. He jumped the bombshell video that one of one of the recruiters at Black Rock surge, Varley, you know what he said? He goes, war is real fucking good. Sorry for my French, of good for business. Volatility creates opportunity to make profit. It's exciting. And he also said for 10 grand, you can buy a senator.

Starting point is 00:47:32 It doesn't matter who wins. They're in my pocket. And he said, this is the best one. Buying politicians to the global market. He says, it's not who is the president. It's who's controlling the wallet of the president. This is somebody at Black Rob caught on camera. And so this is not even hiding.

Starting point is 00:47:48 Like, you know, Pat, just said it. You just said it a few minutes ago, we control the dollars, right? The Fed controls the rates and things like this, but it's the government that keep spending pump and money in there with all the spending. We control it. Pat, when you were saying we, you met the House of Representatives of US Congress, right? The drunk sailors currently spending our future. And speaking of this $10,000 will get you a senator in your pocket right there, speaking of lining your pockets, $10,000. That's it.

Starting point is 00:48:17 That's a black rock. Okay, you're talking about a group, a bank, a conglomerate with AUM assets under management, close to 10 trillion. 11 out of 10. Is it 11? 11. Fact check. That's what we got PBD here.

Starting point is 00:48:33 And then right behind that, and then right behind that, yeah, be check it. Right behind that, you got Vanguard, what, seven and a half trillion. Trillion. And then stage street, what, close to three and a half trillion dollars. So collectively, these three, would you call them asset managers, would you call banks, whatever? Heads funds, what do you call those? What do you call it?

Starting point is 00:48:50 There's massive conglomerates. The asset managers. It's like, yeah, asset managers, which is a combination of hedge funds and PE. So and it's just stacks and stacks and stacks and stacks of, these guys, if you add this all up, you get 11, you get seven seven you got three and a half you're talking about over 21 trillion dollars these three asset managers are close to the GDP of the entire United States and above China you know so that what's the GDP of the United States right now 22 trillion 25

Starting point is 00:49:19 trillion what is it at this point so China's in the in the high double digits in uh what 18 trillion whatever the number is it's freaking trillions at this point? So China's in the high double digits in 18 trillion, whatever the number is, it's for controllions at this point, but that's how powerful BlackRock is. So for them to cut 10 grand a mile, a little Senator, whatever, whatever. That's my name, that's nothing. It's nothing.

Starting point is 00:49:38 It just means how cheap those guys are, but they got a lot of influence, man. These companies have a lot of influence and power right now and they're pushing their weight. They're not slowing down at all. Let's see here with the story of Disney. Disney Elemental, which features non-binary characters, Flops, in opening weekend.

Starting point is 00:49:58 Let's look at the number of Disney, man. They're just going after flops, after flops, after flops right now. So Pixar's film, Elemental Featuring, the studio's first non-binary character, earned only $29.5 million on its opening weekend, marking the lowest opening ever for Pixar. The film's underperformance added to Disney's recent string of controversial decisions in the entertainment industry, including a subscriber loss on Disney Plus, and the elimination of 75 positions at Pixar Studios, the inclusion of elements like critical race theory and shows,

Starting point is 00:50:30 such as Proud Family, Louder and Prouder, not Louder and Prouder and Prouder. A sparked controversy. Pixar's previous film, Lightyear, also faced difficulties at the box office. Some attributed the poor reception to the depiction of same-sex relationships, suggesting that the audience may have been asked too much.

Starting point is 00:50:51 Tom, is America kind of getting sick of this or are we still at a point of tolerance? Hey, let's be tolerant with these movies and cartoons. I think America is on the, I'm gonna give a summary here and this may get me shot at, but this is the summary I see I look around America and I see people working

Starting point is 00:51:10 with Straight people gave people all kinds of folks at their offices and civic groups PTA at their school and They're trying to live in harmony and there's people that have wanted marriage rights for a long time. John Roberts' decision, Supreme Court gave them that. And then along comes this whole trans thing, and which really is devolved into the Bud Light saga, the target saga, school boards, things for teaching kids. And there are gay couples that are right there protesting the same thing,

Starting point is 00:51:43 because they don't know what their kids taught young. And I think all of that is coming together saying, damn it, we've had about enough of this. And there was no picket lines for Disney Elemental. You know what it was? Nobody took their kids to see it. Nobody reached into their pocket to pay the $20 ticket for the 3D version of it with the glasses. And they said, I've had enough of it. And they said, I've had enough of Bud Light.

Starting point is 00:52:08 And I said, I have enough of Disney's Elemental. I live in a diverse world, stop trying to take an ultra-minority of that and get crazy. And I really think that the tide is turning and there's also core lesbian and gay couples that are also tired of it who also want to bring their kids up certain ways and also don't like the portrayal. I think it's, and that's my point.

Starting point is 00:52:33 I'll tell you, one of the best managers I ever had in my court and the court part of my life, one of the best managers I had was gay and it didn't matter. He was a great guy and a great leader and he drove in my, I'm talking about my corporate existence, you know, and, you know, there's nothing there. And the fact that he was gay or not gay didn't matter. And I think America lives in that. It's like if you're gay or not gay, it doesn't matter. But all the wokeism and all the stuff around trans and what's going on, Bud Light and now Disney and others, I think more than just straight America is fed

Starting point is 00:53:10 up with it. But Tom, but from what we're seeing though, because you went through the list with Bud Light and sports and this and all that, it's like they're not stopping though. You know what I mean? They're still being relentless. They're not seeing the, do you think that, like, what is the ultimate goal of this push of just this little, little minority group? What's the end game?

Starting point is 00:53:30 I think you have a lot of corporate PR people and CEOs that are whimps. And why can't you walk to the microphone that says, there's been gay people working our company for 50 years. You know, we've got equal medical programs, we've got, you know, spousal arrangements. We have all these things that we've done for regardless of who you are, just come take a job and do a good job. And where is that CEO?

Starting point is 00:53:52 And where are those PR people saying, time out, you know, we've recognized these things that work among us. Why do we have to take this other step? Why do we have to have tuck friendly kids swimsuit, sprayage five? Are you kidding me? Yeah. That's over the waterfall. we have to take this other step. Why do we have to have tuck friendly kid swimsuits, Sprayage five? Are you kidding me?

Starting point is 00:54:07 Yeah. That's over the waterfall. That's where it is. And I think that there's, there's gotta be, well, I'm not about Texas Rangers. Texas Rangers have said, baseball is for everybody.

Starting point is 00:54:18 We have everybody in our audience and we feel no need to have a special celebration of anything that may or may not be on the fringe. Everybody's here watching Texas Rangers and everybody's welcome to be here. Where's that voice in the rest of America? Because rest of America is going to say, hey, that sounds like common sense. And I think common sense is going to make a comeback.

Starting point is 00:54:37 And it's been drowned out this year by these fringes. Yep. And it's funny that the people aren't saying anything, but they're showing it with their money and they're not showing up to all these, you know what I mean? All the events, all the movies and everything. It's like the silent, the silent majority is happening with the money. So good for them. And hear me now, hear me clearly. I'm not against anybody. You are who you are in a nation where the laws and the freedoms are to be that. But when you step over the edge and you get in the face of people's kids and you want to train their kids

Starting point is 00:55:09 while they're at school and they're under age, you're no longer about personal freedom to be who you are. You're diving down into lives of their kids. And guess what, you're pissing America off. Yeah, you were about to sound like the Reverend from back in the days. We're not against rap. But we are against rappers, but we are against those thugs But by the way, I want to show you this so Brandon showed me this yesterday. This is a gallop report that just came in

Starting point is 00:55:35 Fewer in US say same sex relations morally acceptable interesting. This is the first time it's gone down Tom take a look at this 64% down This is the first time it's gone down. Tom, take a look at this. 64% down from 71% say same-sex relations are morally acceptable, slightly more 60% than last year's say death penalty is morally okay. Birth control divorce still most widely viewed as morally acceptable. So in body with this is Gallup, it's not, this is not Fox, this is not CNN, this is purely Gallup.

Starting point is 00:56:03 If you want to go a little lower to see the moral issues on where we're at on on how people are looking at this 22 to 23 bird control Change is what minus 4% divorce minus 3% sex between unmarried men and women minus 4% having a baby outside of marriage unchanged Gambling minus 2 gay or lesbian relations the biggest one. Minus seven percent people are like, yeah, I don't know if that's morally acceptable. That's gallop. That's saying this.

Starting point is 00:56:32 Medical research using stem cells unchanged. Can you zoom in a little bit? That death penalty went up. People are supporting death penalty. That went up. Buying and wearing clothes made of animal fur. Oh, that's going to be upsetting certain people here. 0%.

Starting point is 00:56:47 Dr. assisted suicide. Wow, I didn't know Hillary was a doctor. A abortion unchanged. Medical, it's interesting that abortion is unchanged. 50 to 52. Medical testing on animals minus four, sex between teenagers, minus three pornography, minus two, minus four. By the way, it's as if America became more conservative

Starting point is 00:57:07 in the last year. And you're crazy. What are the numbers that have the greatest increase or decrease if you can scroll back? It's gay. It's gay or lesbian, minus seven. It's the five. There's nothing that's greater change than that.

Starting point is 00:57:21 Nothing. Of being morally acceptable. Of not being morally acceptable. They're not open to it. They're less open to it than they were a year ago. This is America. But they went up in the death penalty. Yeah, they want to kill people.

Starting point is 00:57:32 What was the top of the article called right there? American opinion of moral issues. There was another article that he, that I think the top of the article he recently, but so with this whole moral stance. How do you process this? I'm curious. When you hear this, how do you process this?

Starting point is 00:57:50 I happen to believe that when you have an over amplification of anything in society, what happens is people are pushed back into the corner of their core belief. And I think what we're seeing here is lawlessness from what happened with the BLM riots. It's not about the point of rights and racial equality in this country. It was how it was executed, how it was pushed back. Defund the police makes people feel insecure. I think when you take all those out and you push them, what happens is it's a purification process of what their core beliefs are and it doesn't surprise me the survey would go up.

Starting point is 00:58:32 I'd like to see the survey from right now to two years from now after a new president and when people have had time to think about a little bit. I'd love to see that. To see, did it push back a little bit and then they kind of come back to where they were. You know what it is, I think this could be called the tolerance index. You know, we have the greed of... Fair greed index, yeah. It needs to be called the tolerance index because this is kind of how tolerance works. Which religion is the most tolerant religion?

Starting point is 00:59:01 Christianity. Christianity is the most tolerant religion. I mean, you can put Christianity. Judaism is pretty tolerant. I would say Judaism and Christianity is, but I would say God forbid you say something about, you know, a Jewish, what do you say? Wow, you know, when you think about Jews and their money and their distance, you could actually get canceled. You can't criticize them. Oh, yeah. You cannot say it about Christian. You can say whatever you want about Christianity. You can say whatever you want about Christianity, right? So to say the most tolerant religion is who? Christianity.

Starting point is 00:59:35 So the Gays have to thank Christians for being the most tolerant because the Christians are sitting there saying, hey, as long as you're doing your own thing. Yeah. Gays can, LGBT cannot thank the Muslim community because the Muslim community is not gonna be like, hey man, you wanna come out of here for us to do XYZ? No, it's not gonna happen.

Starting point is 00:59:49 Live your life privately, do whatever you want. It's not gonna be a public thing that we're gonna create a pride month for you. And we're gonna recognize you. I think Americans are kinda sitting there saying, well you know what, this tolerance thinks maybe there's a limit for a new cross the line. We were tolerant with you, now you're abusive

Starting point is 01:00:04 and now you're disrespecting us. Now you're insulting us, and we're gonna pump the brakes right here. That index could be called a tolerance index. Paddy, do you think, how much do you think is the trans, what I tell him was talking about, the trans movement is affected at minus seven where people are just like, listen, we were totally cool.

Starting point is 01:00:22 Everybody was chilling, now this one little mic, it's like having that drunk uncle, the trans movement is like having that drunk uncle where people are just like, listen, we were totally cool. Everybody was chilling. Now this one little mic, let's say, it's like having that drunk uncle, the trans movement is like having that drunk uncle that shows up to the barbecue. You're like, we were having fun. Now you're taking your pants off, you're jumping in the pool, you're causing a fight.

Starting point is 01:00:36 That how much you think that that is reflecting in that minus- A massive amount. A massive amount. And that's a massive amount. I don't know anybody that has a problem with gay people. Never. You give nice man- Like nobody's, it's been't know anybody that has a problem with gay people. Never.

Starting point is 01:00:45 We give nice, man. Like nobody's, it's been decades and that's even been an issue in this country. The T's resolved, too. The T's resolved. The T's resolved. The T's are messing it all up. And the kids stuff, the drag stuff, the grooming stuff. Yeah, correct.

Starting point is 01:00:59 All of a sudden it's like, I don't know about all that. It's just awareness of the trends. Yeah. That's not awareness of a self identifying group. It's not what it is. It's when they've crossed over into the family, into public. In the education, indoctrination, and conformity. Got you.

Starting point is 01:01:17 And everybody else is saying, wait, wait, wait, wait, wait, get off my lawn. Yeah. And I hate how they turn it to, like we're us talking like this, this right now, people are like, they're transphobic. No, no, no, no, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and I, and get better and everything, but pushing it down our throats, pushing it down our kids throats. And then like I said, doing all those shows where you're just butt naked in front of kids, what is, what is, how is that furthering your?

Starting point is 01:01:51 Fobic means fear, right? Yeah, I'm not scared of anything. Well, yeah, I am not transphobic. I am not afraid of you. You wanna meet at the school board and you wanna try to force education on kids? There are people that are not transphobic. They are not afraid of you

Starting point is 01:02:04 and they will meet you in the steps of the courthouse and they will hit you in the transphobic. They are not afraid of you, and they will meet you in the steps of the courthouse, and they will hit you in the mouth to show. They are not afraid of you. It's not about being transphobic. It's like, it's like, trans. Hey, I've always felt this way, and so I cross-dress, and this is what it is, and I'm trans, okay?

Starting point is 01:02:19 There's that. But then, and I think I should go to the school board, and I think there should be books, there should be this, and this, this and this and this and this. It's like, wait, wait, wait. We just went from you identifying yourself as trans and some things that are to now crossing over and you want to indoctrinate my kids, wait, wait, wait, wait, wait, wait, there's the line. That's the line and that's what's going on.

Starting point is 01:02:39 And, you know, that's where they want to say, oh, you're transphobic. No, they're not transphobic. They're pissed off at you. There's a big difference. That's where they want to say, oh, you're transphobic. No, they're not transphobic. They're pissed off at you. There's a big difference. That's you. You know, MLK famously said, don't judge me by the color of my skin, but the content of my character. One of my question is, like, I don't ever introduce myself

Starting point is 01:02:54 and be like, hey, Pat, I'm a heterosexual man. I like having sex with women. My preferred positions are dog style. And he, like, that's never my lead story. But I grew up Jewish in Miami. I was an athlete in high school. Nobody does that. It's not how it works, but when they throw that out first

Starting point is 01:03:14 of like this is how I sexually identify. This was what my sexual proclivity is. And this is how you need to accept me. It's like, bro, I just want you to get the job done. And it's like that's the lead story. And nobody cares. I don't tell you though, you did that so naturally. Like I wonder if that's how you to get the job done. And it's like, that's the lead story. And nobody cares. I'll tell you though, you did that so naturally. Like I wonder if that's how you flirt with girls at bars.

Starting point is 01:03:29 Hey Mary, I'm Andy Adam this. I'm straight up in front of this. Yeah. Are you open to leaving the club right now or the bar right now? That's in little two natural. It's like a script. Yeah.

Starting point is 01:03:39 You know, practice makes perfect. My name is Adam. 16% of the men in this bar are straight. I'm one of them. Yeah. It's true. I'm one of them I like that By the way, check if a shirt started trending. It says I'm straight Yeah, you just started some of the shirts as I'm straight. Oh my god, and people are looking at us Ask me to you do me

Starting point is 01:03:59 That's great. It becomes like a secret hashtag. I'm straight Great. That's it. It becomes like a secret hashtag. I'm straight. Like a little like a pride month. That like it's it's American straight like hey guys. I'm sorry, but you know what? I like women. But it's interesting that we're having this conversation on pride. I think you see when Elon Musk has been slowly dripping out there. No, what the flag? What do you do?

Starting point is 01:04:19 The LGT flag. Yeah, yeah. That was hilarious. We'll be like, I'm sorry, but what what country is this flag from? What? What? Yeah, where did it come from? Where are these people from? Like Elon Musk is slowly. He's a flood.

Starting point is 01:04:33 I don't know if he's a troll. Red pill. No, he's a troll. He's a troll. But he is not a fan of the rainbow mafia. Yeah. For sure. Yeah.

Starting point is 01:04:42 What do you think it is? What do you, we've been studying Elon Adam? Why do you think he's doing this? I think, you know, common sense prevails and it's just becoming complete overreach and you know, how many people from that community, from the far, far left of that community have been calling for his head.

Starting point is 01:05:01 There's so many people that hate Elon Musk now. Oh my God, because he is an entrepreneur. He's made his billions. He's a capitalist. He's a defender of free speech. And, you know, he's an easy target and he's not falling in line and he's a free thinker. And it's, it's interesting to see the pushback that he's getting right there, but he's a very, very necessary voice in the world. He put his, he put his money where his mouth is, so we can have our speech. And I respect the hell out of it.

Starting point is 01:05:28 You just traveled, you were in Romania, then you went to Israel. Yeah. I don't want to get yelled at for mentioning your vacation plans. But it's like, you went around and you're at some places there. What did you see out there when you compare

Starting point is 01:05:41 what's happening in American cities with, you know, woke demonstrations, things are going on compared to where just last week you were. Yeah. The, well, it was actually pretty interesting because I was in Jerusalem. One of the most holiest places on the planet. I just want to talk traditional conservative, holy, religious cities. I didn't see one pride flag in Jerusalem. But in Tel Aviv, my friend, forget it. Oh, man, it was everywhere. religious cities, I didn't see one pride flag in Jerusalem.

Starting point is 01:06:07 But in Tel Aviv, my friend, forgot it. Oh man, it was everywhere. Really? Everywhere. In Tel Aviv. Tel Aviv, very liberal state. Tel Aviv's a big party. Tel Aviv is South Beach, party in, going out, beach, nightlife, and they just had their,

Starting point is 01:06:24 they're, I mean, they're a very proud country. I mean, most countries are proud. There's a lot of Israeli flags, star of David. Of course. When I tell you, there were more pride flags in televially than there were their nation's flag. I was shocked. Like, you want to have a pride flag?

Starting point is 01:06:42 That's cool. But to have it everywhere Was was quite shocking Like Shabbat Shalom Did you get any of those guys? I think I'm Seventy attention editors that's an emergency short clip I don't like guy like like like like the long with their like Yamakas with like the flag and stuff on them and editors, that's an emergency short clip. Oh my God. Oh my God. Oh my God.

Starting point is 01:07:05 Like, like, like, like, oh, I would like, Yomakos would like the flag and stuff on them. I mean, they were, it was recently just flags. Oh my God. They were everywhere. I saw one sign. I love. I saw one sign that says,

Starting point is 01:07:17 well, you know, shout out to you for your pride, but you can take a straight person for your existence, straight pride. Oh, but you know. Yes, sir. Listen, I think nobody, again, it sounds like we're gay bashing. It's not that at all.

Starting point is 01:07:30 Oh, we can't make fun of everybody. It's not everybody. As a comedian, as a former comedian, it's not racist if you make fun of everybody. If you can get it and you can get it, you can get it and I'll make fun of Jews and Muslims and Christians and Gays and Blacks and White Asians, it's like,

Starting point is 01:07:44 you guys can get it too. If you actually want to be accepted, you gotta take the good with the best. 100%? Oh, do you see Pat? Just the trans sketch we did where it's on value-taming comedy, where I'm trans everything. I'm trans late.

Starting point is 01:07:56 I'm transparent. It's a comedy sketch. In the comments, some guys like, this is disgusting. And I, Bo, I never really respond. I went into, I go, who, what you think your little group is off limits? I bro, I never really respond. I went into, I go, who, what you think your little group is off limits? I go, I make fun of myself. Middle Eastern's

Starting point is 01:08:09 black, white, tall, short gay. I don't care. Your group, you ain't off limits, dog. I'm going after you, too. It's not, it's in good taste. I'm not saying any, any people that hurt them are doing this, but it's like, bro, you're not off limits and I will make fun of your ass. So nobody should be off limit. Hello. There you go. Well, and I say heterosexuals, stopping extinction for 5,000 years. Yeah.

Starting point is 01:08:34 You gotta be able to use a sense of humor. So like, there's a lot of people right now. Let's just pick on me and the Jews for a second. Yeah. I can't believe Vinnie who's not Jewish, just made fun of Adam, I'm sure. Oh my God. He made fun of the gay community, in the Jewish community,

Starting point is 01:08:50 and the gay Jewish community, all in one. Yeah. And as a Jew, I'm like, that's actually fucking hilarious. It's funny. If the Jewish guy's laughing, stop being so butt hurt. And speaking of butt hurt.

Starting point is 01:09:00 I'm gonna be. Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha in a butter. Oh my God. Oh my God. Oh my God. Oh my God. Oh my God. Oh my God. All right, let's go to the next one here. We need to channel it. Hang on. All right. So we got their role isn't to educate society.

Starting point is 01:09:16 Kevin O'Leary just ripped Mark Cuban's claim that going woke is good for business. Warns that you risk alienating 50% of your customers. So these are two, you know, two of the guys, probably the main guys on the great Shark Tank show that's out there, do you can it out here? Let me go to the store here. So here we go. Mark Cuban believes embracing woke ideology

Starting point is 01:09:39 is good for business. But Kevin only read this agree stating, when you get involved in partisan issues, you basically lose 50% of your constituency Why you don't why you would do that when you're a customer goods or service company everybody is learning makes Absolutely no sense Oliewry emphasizes that the role of a corporation is to service customers Employees and shareholders and not to educate society on social issues. He states Their role is not to educate society on the social issue of the day.

Starting point is 01:10:05 Companies like Anisor, Bush, Inbef, and Target have faced negative consequences for allegedly going to walk O'Leary points out when you lose 9, 10, 11, 12 billion dollars a market cap, you know that you've offended somebody and that person is your customer. That's bad business, really bad business, Tom. Well, first of all, Kevin and Larry comes up

Starting point is 01:10:28 from under the rock after FTX that he's been sitting on. Oh yeah, exactly. Oh yeah, that's a heavy rock. And then it's like, hey, something to talk about that's not three letters. I think there's some truth to Kevin and Larry is saying. Kevin and Larry is saying, hey, you look at,

Starting point is 01:10:44 it's kind of what I just said. There are a number of people that like our products. We're not going to be four or against any one of them. Please enjoy. And I think Kevin O'Leary is absolutely correct. And I think he points out, if you're upsetting a customer, what are you doing? Now, that's different from, if you're, they do we what are you doing? Now that's different from

Starting point is 01:11:05 if you're, they're just saw a thing about fur coats. You're making fur coats and the animal activists aren't going to be happy with you or you're tobacco and no one's happy about the addictive, the vape is so addictive and now you're getting teenagers involved. This isn't that. This is Kevin O'Leary saying, hey, if these are your customers, why would you upset any of your customers? Forget that this is about woke. That's the question O'Leary saying, hey, if these are your customers, why would you upset any of your customers? Forget that this is about woke. That's the question O'Leary's asking. Why would you upset any of your customers?

Starting point is 01:11:31 And I think he's dead right. Sorry, what is up with Mark Cuban? Is he that left-pat where he's like vaccine and everybody get this and he's getting involved and he's all this woke like what what is his deal? It's what what is up with this guy? No, no, no, no, Mark you and don't let him fool you He's one of the sharpest cats out there. He knows he knows exactly what he's doing who he's supporting He he's the type of guy that he is a sequencing guy like he knows

Starting point is 01:12:01 I'm gonna support this guy because I'm gonna to get this guy and I'm going to defend this guy and I'm going to be against he knows like he enemies he's chosen. You know who he's defending who's who's who's that he's a part of he's he's not a dummy. Mark Cuban knows what he's doing. So whether it's it's knowing the fact that if you don't go woke what is the benefit of he feels the fuels the Dallas maps. Can you, can you go to the Dallas maps valuation? What is, and a big chunk of his network is with the map. He bought it, I think, for 240 million bucks. Yeah, I'm guessing.

Starting point is 01:12:31 He bought it for not three billion. I believe his non-sports, his non-sports net worth pad, I think is 1.1 to be exact. It's not a set of us. So he's worth 5 billion. Yeah. His non-sport is 1.1. Well, I mean, his non-sport is probably

Starting point is 01:12:44 a little bit more than that, but the team is a 3.3 billion out of cover. Jack is not worth it. It might not even be 5 billion. His non-sport is 1.1. Well, I mean, his non-sport is probably a little bit more than that, but the team is a 3.3 billion dollar. Check his network. It might not even be five billion. It's 5.1. Okay, that's where it is. A Mark Cuban network. I want to say it's 4.5.1 billion. Okay, so 5.1 billion out of a network that marks God. So, what happens if all of a sudden NBA brokers a deal with China. You know what happens to that $3.3 billion? It's going up. Did you see when the Denver Broncos were all of a sudden

Starting point is 01:13:12 bought for whatever, and do you remember who made everybody in the NBA rich? Who's the most hated owner in the NBA? I made everybody rich in the NBA. What was guy saying? Donald Sterling. Donald Sterling, when he sold the LA clippers for what did he sell sell 2.1 billion?

Starting point is 01:13:26 What was LA Clippers? That was 2 billion and changed to a slipper. Who did what? Oh, 2 billion dollars. I thought it was a little over 2 billion. Okay, 2 billion dollars. Yeah. Okay. Do me favor type. How much did Donald Sterling buy the Clippers for? Because it was a San Diego Clippers when he bought it. Yeah. It was like 75 bucks. Donald Sterling pay. 85 million. San Diego Clippers. Yeah, it's okay. 12 and a half million. Oh my God. The guy buys the Clippers for 12 and a half million. sells it for two billion. You know what X that is? He had billions for 120 million. 100 X is 1.25. He sells it for nearly 180 X of what he paid for. Right? When Donald

Starting point is 01:14:02 Sterling did that, everybody went like this. I hate the guy put them, I love the guy, you know, he just made me a billionaire dog. Yeah. Okay. So the next crazy event like this that can get the MBA to be insane valuations is if they go into China and if, you know, if Adam Silver wants to be known as a commissioner like the great Robert Kraft

Starting point is 01:14:21 that made all NFL owners billionaires wear. NFL owners like, you can fly private jet for the rest of your life. And you great, great, great, great, great, great kids. We'll give you best health insurance for the rest of your life. Your entire family, you can go anywhere. That's pretty much a deal. He got plus 25 millionaire. I don't know what the deal was.

Starting point is 01:14:35 37 millionaire, some salary. He knows if he pisses off the wrong people, Mark Cuban, that sequencing of getting that contract in China. Again, I'm speculating. I don't know this for a fact, this is purely opinions here. But the guy's not a dummy. He's choosing sides, and he knows which side he's not a part of. And for you to go and like be against a musk or a rogan, really?

Starting point is 01:14:59 Like, what do you mean? Like, do you know who likes musk? Do you know who likes rogan? Do you know who likes broken? You know what kind of people like those two guys? Your audience? You're people with a bad question authority. It's people that are anti-establishment. It's people that are balsy.

Starting point is 01:15:16 It's people that can stand up for something. It's people that are willing to say some stuff that is gonna offend the doctors that you can't ever offend those people. You're offending the people that are already protected and you're putting like this, yeah, that no one respects that. People respect what the Rogans and the musks are doing. People respect those types of people.

Starting point is 01:15:35 And I don't know. By the way, like I said, I would love to see Mark going to the presidential debate. You know why I'd love to see that. You know why I'd love to see that? You know I'd love to see that? Because I'd love to see a true debate where he goes boom, boom, boom, boom, boom, boom, boom, on tennis shoes. Not a debate where it's boom, boom.

Starting point is 01:15:55 And it's like you move on. A certain tweet you call somebody, I do move on. You get quiet and often hide. And I will tell you, credit to Mark, Mark will have a debate with somebody on Twitter and it'll be a 20-part debate so he's not somebody that backs off and moves on so I'd love to see the guy run I think He actually has a shot at becoming a president. I think he can he has a shot at being a president as a democratic party

Starting point is 01:16:17 Of course he won't run as a Republican with runners-to-demo speaking of selling your NBA team What Jordan just sold to Charlotte Hornets for $3 billion or something like that, he bought it for $275 million. All the one right there. 10 years ago, and by the way, what you're saying with China and the NBA, it sounds far-fetched. It's not why would the NBA ever do something like that.

Starting point is 01:16:35 What do you mean? We have a recent case example with the PGA and live, right? Two years ago, in never in a million years that we think that Saudi, the Kingdom of Saudi Arabia, would own part of the PGA. And we've seen this kind of play out and they partnered up and they've done everything that. But yeah, PGA tour agrees to merge with Saudi-backed rival, Liv Gulf. And I think it was Greg Norman, who basically I think led the charge from Saudi. That's right. The Saudi's recruited Greg rival, Liv Gulf. And I think it was Greg Norman, who basically led the charge from Saudi.

Starting point is 01:17:05 That's right. The Saudi's recruited Greg to be their president. So very interesting. It's just when you think, why would the NBA do? It's like, all right, well, we've got something here. A little fun fact about the Kingdom of Saudi Arabia, you know, that we say that Russia is not a country. It's just a gas station masquerading as a country,

Starting point is 01:17:20 even more so in Saudi. But the Prince, MBS, Muhammad Muhammad Bal Salman, I think he developed the plan a handful of years ago, where basically said we're too reliant on oil. And the way that we need to diversify our country's resources is to start buying sports teams and sports leagues and franchises. And they've brought, I mean, what soccer teams,

Starting point is 01:17:45 massive, I mean, if you look at my, you know the story, Miami, messy, what did they try to do? Exactly, they think to buy them for like a billion bucks a year, whatever, some crazy, Saudi Arabia has bought into soccer and golf, well, the NBA and NFL be next. They've had a mandate in Saudi Arabia. Don't just be a hundred percent reliant on what Saudi Iran go, I think that's the third largest company by market cap in the world.

Starting point is 01:18:08 You think you have Apple at number one, three trillion dollars I want to say. What's number two? Help me out here, Tom. This is like number two. Four, four hundred. Yeah, exactly. Whatever. Saudi Aramco is number three.

Starting point is 01:18:24 And there were two trillion dollars or then some, it, yeah, exactly whatever. But Saudi Aramco is number three. Another worth $2 trillion or then some, it might be Microsoft, whatever. It's a big of a market cap. But they're basically saying our entire country or entire economy is basically relying on Saudi Aramco, government-owned oil company and the way that they wanna diversify their investment strategy is buy sports teams galore

Starting point is 01:18:47 how's how they end up buying live i mean it's not going to be close to the kind of money they have but but i get the fact that they diverse their diversifying and imposing their influence in different sports and yesterday i was looking at the the comparison about about China and India. Brandon Kelly and I were sitting there talking about China and India and how China started taking foreign direct investments in 1990 and it skyrocketed them into where they are today. India didn't start taking foreign investments until 2005. And so India is behind China around 10 years. Like just 10 years ago, only 70% of Indians

Starting point is 01:19:29 had full on electricity. China 100% had electricity. Today I think India is at 98% or something like that. They're at a higher number than they were before. Of course India's got a younger population than China by 12 years. I think India's like 26, China's 38. And here they come.

Starting point is 01:19:43 But the one, yeah, they're definitely going to come and they're investing into education. When it comes on to railways, they have more. Because I think China is three times the size of India, but China only has twice the amount of railways as India does. And ports wise, China's got way more than China, and then India, anyways.

Starting point is 01:20:01 But the point was them allowing outside people to invest into their country. China had the 51% rule. Like if you're going to do anything in India, in China, you've got a control 51% of it, 49% all that stuff. They kind of have that process that they did. In America, it's typically been protected. So there should be a little bit of threat

Starting point is 01:20:22 when other people want to invest too much into your country because they're having influence over it as well. So I don't know how people gonna feel about Saudi making those types of investments aggressively. You can't really prevent it. It's not like it's a 51% number, but that is something you ought to think about, long term. Is it gonna be a good thing or bad thing?

Starting point is 01:20:40 So if 20 years from now, 50% of MBA teams are owned by Saudi owners, is that a good thing? I don't know about that. So these are things that one has to consider. Go ahead Tom. Yeah, you know what's interesting is you look through history, you're path making a great point. And then 1990s commercial real estate and residential real estate in California, Hawaii were being inundated by whose money? This is what you're 90s, late 80s, through the Japanese. Correct. And Japanese were buying, like, a me for five hundred two, we're buying very large things in America,

Starting point is 01:21:16 like Manhattan soil. Like they, uh, I think, I believe, um, Japanese, maybe wrong, but I thought the Japanese company's still owns Rockefeller Center and all the stuff around it and actually it's leased back to GE and NBC and all that became. But everybody back then was like, oh my gosh, they're going to dominate world semiconductor. They're already, look what they're doing with Lexus and Akira, Nisan and Infinity. Here they come. They're going to destroy our auto industry.

Starting point is 01:21:46 They're going to do this. And they're an ally. They're part of G7. And everybody was freaked out by it. But there's cycles that happen with the wealth of nations and their currencies being trading above other people. And they overcooked it, which led to what they call the loss decade, where their economy crashed.

Starting point is 01:22:06 And if you read about Japan, you can read about the lost decade. So there's cycles that go right now. And right now, we are in a Saudi cycle. And the Saudi cycle is investing and buying a lot of things with a lot of headlines very similar to Japan in the late 80s and 90s. I just think we have to be a little bit of sports organizations,

Starting point is 01:22:25 not sports organizations, but leagues. If there is already something in place where you can't, like, A-Count, can you type something Rob to see? What is the rules about international investors buying sports teams in America? Is there a rule against that? Like what they can and can't do?

Starting point is 01:22:46 Because Americans have been buying soccer, you know, Stan Cronkian's Manchester United, don't you? On the other hand, but I like around. Is it, is it, look, as much money as we have in America, you don't have Saudi type of money. There's not guys that have that kind of money. Now don't get me wrong,

Starting point is 01:23:01 there's some people say, well, the richest guys, this guy or that guy or this guy, we have money, but if Saudis use an oil money to pick up $5 billion sports teams, how is that to them? Nothing. That's chump chain. In the oil, below your feet is a crazy AT. Yeah, I can take 100 billion and buy 20, I can buy 100 billion and by 33, three billion dollar teams. I can literally buy 33, three billion dollar teams. That's pretty much the NBA. That's the whole NBA. Because some of the teams are worth 1.2 billion.

Starting point is 01:23:27 Some of them are worth 4.5 billion. I can buy the entire NBA for $100 billion. I read a joke pad about this. You hear that? It's 30 teams. That's crazy. If each team is worth $3 billion on average, I can buy the entire NBA team,

Starting point is 01:23:39 every one of them, for $100 billion. Elon Musk could buy every single NBA team. Oh my God, that's crazy. I didn't think about it. I haven't a every single MBA team. Oh, God. I didn't think about it. I have a question. Yeah. I mean, nuts. I heard a joke made about the Saudis and says, it's not about dollars.

Starting point is 01:23:52 It's about days. So what do you mean? Says, well, I want to buy, I want to buy the Dallas Cowboys. What is that? Six billion. Okay. That's how many days do we, do we pump? It's basically there's talking about how many days

Starting point is 01:24:06 the oil out of the ground. That makes sense. I can buy the, I can buy the every 21 days I can buy the Dallas Cowboys. Yep. That's crazy. So would you say that that Saudi has the most out of every, there just the richest?

Starting point is 01:24:18 I don't know. I mean, some say Saudi, some say Putin is the richest guy in the world. Some say certain people in China that low-key, no one specifically she, not everybody, because people are leaving China. Billionaires and millionaires are leaving China a hardcore right now.

Starting point is 01:24:35 So what is that? NFL rules prohibit foreign investments in franchise, but rules were made to be disregarded when sufficiently profitable to do so. Tuesday, stunning news that the PGA lie, okay. So interesting. So in the NFL, so yes, the public investment fund, the formal neighbor the sovereign wealth fund of Saudi Arabia can get into the NFL if it wants. And if it has to set up a competing league to light the fuse, so be it, it worked in golf, why wouldn't it work in football? Man, if these guys create a competing team

Starting point is 01:25:06 and they go to guys like Joe Burrow and Josh Allen say, we'll pay you $100 million a year to come you client, who will give you a 10-year billion dollar contract? They're all gone. And next thing, you know, they recruit the 50 best players in the NFL that go over there. It's over.

Starting point is 01:25:22 That's a wrap. Do you know what I would do? What's that? I'm going to say something here. Watch this. So let's, I'm now Prince Thomas of Saudi Arabia. Hi, Prince. And I create an organization over here.

Starting point is 01:25:36 And I start doing NIL of everybody that's going to be the top draft picks pat. And I start stealing your draft picks because what I do, I go into college and I can outbid you an NIL, which is exactly what they did with Phil Mickelson and with Bryson Chambo and top-lying goffers that they paid those incredible join fees. Remember those mix of scent was rumored to have gotten $500 million to join live. So what if they go over here very legally

Starting point is 01:26:05 and create a fund and go after NIL of MBA players and NFL players at the collegiate level? Yeah, and NIL for those that don't remember its name, image, and likeness, right? The new legal way to get sponsorship dollars to athletes. What if they do high school athletes, the college athletes, which are forbidden for forever? With them legally, that's saying that they can do that, right?

Starting point is 01:26:29 Prince Thomas, I could do that tomorrow morning if I had the money and completely disrupt. I could have the top draft picks if I had a feeder system into a pro league. This is giving me very coming to America vibes. Like, he's a prince. I'm gonna say he's got his own money, but he got his own money.

Starting point is 01:26:48 Well, I'm just outlining how easy it would be to do. Could you see that happening, Pat? I can. They just did it in golf. They just did it. Everybody was hating. I can't believe you're doing this. I can't believe you're doing that.

Starting point is 01:26:58 Well, Liv and PJ have decided to team up together. What happened over here? Don't make us in. You betrayed us. You know, 500 million, I betrayed you. You know, Greg Norman was a guy that was hated. You know Greg Norman had no idea this was happening. This happened behind his back.

Starting point is 01:27:09 Yeah, no clue when this was announced. He says, I have no, I was not a part of this. No one told me this was happening. Hell? I just heard the news myself. Yeah, the top CEOs in our board, there was five people that got together. They were trying to settle the suits and they said,

Starting point is 01:27:19 well, one way the settle is, maybe we just pumped the money in the PGA and we own it. J. Monahan was like, I'd be really hypocritical with me. You could be president, J. Monahan will pay you $20 million. But you know, I think it could be a figure it out. Yeah, that's the way it is. And what's 20 million to these guys?

Starting point is 01:27:34 It's like minimum wage 15 bucks an hour for them. Okay, all right, by the way, once again, what is the most money that disappeared out of your hands, folks? Like, lost that? Lost. Has, have you ever overpaid on a check and buy how much? Okay, because here's what the Pentagon account just did. Somebody needs to fight a Pentagon account.

Starting point is 01:27:55 Pentagon accounting error provides an extra $6.2 billion for Ukraine military aid. This is an ABC story. Okay, this is an ABC story. Okay, this is an ABC story. So let's see what ABC has to say. Just a couple about this little mistake. I mean, it's just two professional teams. Claire, Claire.

Starting point is 01:28:13 Claire, Claire. Here we go. Pentagon has admitted to a $6.2 billion dollar counting gear in the value of weapons. By the way, do you have the video, rap of the lady saying it the way she just said it very casually? I love it. Send to Ukraine over the past two years, the mistake was due to using replacement costs. Instead of book value, the surplus will be used

Starting point is 01:28:28 for future security packages. The surplus funds will be utilized to support Ukraine and its counteroffensive against Russia. Ukraine air defenses successfully. A down 32 out of 35 Russian drones, the US has provided less than 34 billion dollars in aid to Ukraine. Contrary to previous estimates of 40 billion, President Biden has pledged ongoing support by concerns about costs and duration of the conflict persists. The accounting mistake will not impact

Starting point is 01:28:55 aid delivery. Here's a lady if you want to play this call. Following up from some announcements earlier this year, during the department's regular oversight of our execution of presidential drawdown authority for Ukraine, we discovered inconsistencies in equipment valuation for Ukraine. In a significant number of cases, services used replacement costs rather than net book value, thereby overestimating the value of the equipment drawn down from US stocks and provided to Ukraine. Once we discovered this misvaluation, the Comptroller re-issued guidance on March 31st,

Starting point is 01:29:31 clarifying how to value equipment in line with the financial management regulation and DOD policy to ensure we use the most accurate of accounting methods. We have confirmed that for FY23, the final calculation is $3.6 billion, and for FY22, it is $2.6 billion for a combined total of $6.2 billion. These valuation errors in no way limit or restricted the size of any of our PDAs or impacted the provision of support to Ukraine. And while the DOD retains the authority to utilize the recaptured PDA,

Starting point is 01:30:07 this has no bearing on appropriated USAI, or Ukraine PDA replenishment funding approved by Congress. Tom and then people wonder why we are so much in debt. We don't even know how to get through. For those of you day traders, pick up an index on defense contractors, because $6.2 billion has now to do or to buy more stuff going to the Ukraine. Yeah, that's insane, man

Starting point is 01:30:27 That is how how do they make a blunder like that? How do you mess? How do you how do you mess that up? I was in first grade And they told me always carry the one That is redeveloped palette what like come on I'm going to billion don't be so hard on those guys. It's it's a mistake. People make mistakes like that and they overpay on the bill. That's a pretty big couch. I have six million dollars hiding I'm sorry. This and it's going for good cause. We're gonna give it to him in the future anyways. Yeah, so am I as well. Yeah, let's not judge perfection from our government Employees. It's only expect perfection from us. We make mistakes like that. I apologize. We can get fired and go to jail But if you make mistakes like that in the government, you get a promotion.

Starting point is 01:31:05 It's like a, you should recognize this type of behavior for people to want to make those mistakes. I apologize. I don't know. I just think it's, you know, it's, it's more. Lawyers guns and money. I'm actually, I'm actually happy that this happened. Why?

Starting point is 01:31:17 For two reasons. Number one, so we can talk about stuff like this. It's like, hold on, this is what's happening, guys. All right, question. You know, I've said, vocally, I think we should have some involvement in what's going on there, but there should be some limitation so the money aspect of it, okay? And this is just one of those situations

Starting point is 01:31:37 where it's like, all right guys, we support, I get it, country just can't invade countries, we can't just sit along on the sidelines and say nothing and do nothing. But there do need, there does need to be some limitations to how much money we're going to be investing and funding this operation. And here's a situation where we can point to and say, oh, say going to the back guy, they're the back guy. Like, all right, what's going on here, guys?

Starting point is 01:31:59 Because they'll spin it. They'll say, well, you know, we were actually planning on spending, sending this in 30 days from now. So now 30 days from now accounts receivable. We'll just backtrack and we'll just deduct that from the accounting for primates. They'll spin it. But there's does need to be some limitations on how much we're spending here. So this is not a freaking Afghanistan situation where we've been and I'm giving trillions and trillions and trillions of dollars and having nothing to show for. You know what?

Starting point is 01:32:26 That's $6.2 billion would have done to just to help Americans just give like just to hand out some of that money or help some veterans or help help help some homeless. $6.2 billion and it's just a whoops. That's all all that is is a whoops for almost for $6.2 billion. But that's embarrassing. And like you said, I have nothing's gonna happen. All that is is a whoops for almost for $6.2 billion, bro. That's embarrassing. And like you said, nothing's gonna happen. They're just like, hey, at least it's going to a good cause.

Starting point is 01:32:51 Every Thursday, thousands of stray dogs are put to death. For $15,000 in the art donation. But we are living in a time where a number that starts with a B is not even a isn't that big of a deal anymore Don't talk about the T homie. Not that kind of Tea the trillion about Transformers. I Let's talk about let's talk about how we go back to that. I'm going to go away at this point So mark Zuckerberg as you cut a lot of Elon Musk. Let's first talk about the master plan

Starting point is 01:33:26 and we'll talk about the fight. Yes. And we're not going to talk about Elon Musk's perotia count. If we talk about this, we'll talk about it. Let's get to the next one. Mark Zuckerberg's master plan to kill off Twitter revealed meta to launch rival character limited app,

Starting point is 01:33:40 condemn project 92 in coming months. This is tapping up, taping up Oprah Winfrey and the Dalai Lama to track users. Oh my God. Wow, coming to a city near you type of stuff, right? Mark is not happy with what? What's his name is getting? Musk is getting and it's a little too much attention.

Starting point is 01:33:59 Well, let's see what happens here. We like competition. This is America. So Mark Zuckerberg is reportedly planning to launch a rival to the platform to go up against these guys, have expressed interest in joining the new platform, Dalai Lama and Oprah Winfrey, which aimed to provide a trustworthy alternative to Twitter.

Starting point is 01:34:14 The new app, potentially named Threads, will resemble Twitter in terms of its continuous scroll to text and like and retweet functions. It will also adopt a 500 character limit proposed. Closer to Twitter, original 180 character limit, meta aims to create an app that prioritizes safety east of use and reliability, meta's project 92 plans to integrate

Starting point is 01:34:35 the with Instagram's account systems and other decentralized platforms like maston, dawn, Tom. What do you know about this story here? First of all, let's go into history. like, Maston, Tom, what do you know about this story here? First of all, let's go into history. Name one product that Mark has made, you know, a billion dollar market cap successful.

Starting point is 01:34:56 Facebook. Facebook. Instagram, oh, wait, he bought it. What's up? Oh, wait, he bought it. Detective Trend here. Facebook has not deployed anything except Meta, and it's as it's known, has not deployed anything except Facebook

Starting point is 01:35:12 in its original form, plus the extension features that are on Facebook. They haven't been successful. Meta is a smoking crater of stock dividends that are unpaid. It's a smoking crater. It's become nothing, and how many headlines do we see, hey Mark, when do you give up on that? How many of you seen these headlines?

Starting point is 01:35:30 There's a lot of money you're spending. You keep spending. Are you gonna back off this thing maybe and go to dividends? What he's trying to do here, so Metta's gonna make a Facebook clone and get Oprah and the Dalai Lama to cause a big migration of people over there. No, no, no. Twitter is at scale.

Starting point is 01:35:49 Twitter is refining itself. Twitter is doing the right things. And Facebook has zero track record of building anything on its own successfully. Exhibit A meta. I mean, when you say that way, and the question becomes, how many people have tried to build a Twitter right now? And is there a climate for somebody to build a Twitter against Elon Musk's Twitter? Are they going to be able to compete against Elon Musk?

Starting point is 01:36:15 But people don't realize that behind closed doors, I wonder what other things Elon's building within Twitter. I'm sure they're about to launch an OTT. I'm sure they're about to pay their talent very well. I'm sure if a if a Tucker Carlson decided to put his show on Twitter, there's stuff that Tucker knows that we don't know about about what future compensation structures are coming. I'm not saying there's a side deal. I'm not seeing Elon as paying him, but I am saying there may be a little bit more until that Tucker has to take his talent to Twitter than anywhere else, maybe because

Starting point is 01:36:43 they're about to launch something. Who knows? But this is not a guy that's sitting on his laurels just like, hey, I'm gonna be okay doing this, I'm gonna be doing that. Now here's the part. If you're looking musk, he's not in the best shape. Okay. Because musk has got so much time in the best

Starting point is 01:37:00 in the company he's building. I'm not saying he's in bad shape, he's lost a lot of weight, he's looking better, but he's not in best shape. Now, Zach is an incredible shape because he's not that I'm not saying he's in bad shape, he's lost a lot of weight, he's looking better, but he's not in bad shape. Now, Zuck is an incredible shape because he's not that focused on creating the next thing, he's just buying stuff, but he's got a lot of time practice in Jiu-Jitsu and he's actually looking really good, right? And training and videos and all the stuff that's coming out.

Starting point is 01:37:18 So the story that's going, that's a bit viral right now. Is Elon Musk and Mark Zuckerberg agree to hold cage fight? And this is a BBC story. Can we know BBC tells the truth? So we have to. So here's a story from BBC. Shout out to the list. About what's going on over there with BBC. So tech billionaires, Elon Musk and Mark Zuckerberg

Starting point is 01:37:40 have agreed to cage fight with Musk's, stating on Twitter, I'm up for cage fight. Zuckerberg responded by saying send me location musk proposed holding the fight in the octagon. And last but not least, the arena used for UFC Bouts. He added humorously. I have this great move that I call the walrids. Or I gained viral attention, sparking debates and memes among social media users, unrelated news, metadaparent company of Facebook and Instagram is reportedly developing a text-based social network to rival Twitter, potentially challenging, Musk Twitter presence. Let me ask you. What are the chances of these guys doing a cage fight?

Starting point is 01:38:26 Give me the zero to a hundred. What's the chances? I think Elon, I think Elon would do it. And I don't think Zuckerberg would ever show up something. What do you mean? Zuckerberg's the one that's training. Dude, he just joined the tournament pathway. We're a mask.

Starting point is 01:38:39 He bored the sky. Let's actually let me ask you something. And just PR crew came out. Said, no, no, he didn't concede. He didn't concede last time you actually saw Mark Zuckerberg not in front of Congress or being like doing some cyborg takeover. He does podcast with Joe. He does podcast with Friedman.

Starting point is 01:38:53 He does. Zuckerberg's done this podcast with Joe Rogan. Zuckerberg's been on Rogan and Zuckerberg's been on relaxed twice. I don't think I think Zucker is trying to rebrand himself. He should. One step at a time. I think Zucker is trying to rebrand himself and we'll. One step at a time. I think Zuck is trying to rebrand himself and we'll see obviously what's gonna happen there

Starting point is 01:39:08 with these guys, but I don't know if they're gonna do it or not. And quite frankly, I gotta tell you, I don't know if Musk should do it. I think Zuck will do it, okay, if they fight. Well, can I give you a little tail of the tape? Here we go. Real quick. I'm just, you know, we were down at UFC. Our courtesy

Starting point is 01:39:26 of Joe Rogan. Yeah. Israel Adesanya fight. Trump walked in crazy and saying, but just picture this. All right. Go with me for a second here. Guys. Bruce Buffer, right? Oh, you know, that whole thing that he does coming to the coming to the octagon The challenger Okay, the man that owns Tesla the man that owns Twitter the man that owns base. Yeah, he's been out there weighing in at 200 pounds standing six foot two tall 52 years old a hailing from South Africa now currently living on Mars 25 okay Elon The what The walrus must.

Starting point is 01:40:07 Musk. Six to two. Two hundred. Six to two. No one in him he would walk up with a walrus. He had a hundred percent. Just like a kitchen sink. So now how tall do you think Zuck is?

Starting point is 01:40:18 Zuck is five nine. Five nine. Yeah, five ten. Clocking in at 160 pounds with a height of five seven. Oh, yeah. Look at look at this man. Look at me. I don't know. Five seven, 39 years old. Born and raised in a secret lab cyborg's facility somewhere and the metaverse. Guys, I don't know what you're saying. I think this guy looks good. We can say whatever we want. So I was looking good. I think Elon Musk kicks or not easy. Elon Musk is good. Whoop his ass.

Starting point is 01:40:48 If Elon lays on top of a lot, he looks bigger when your opponent is five five. Elon gets on top of a bit. So no, you, you anyway, you're underestimating the power of, you know, doing jujitsu. All right, listen. Here's how this thing works. Elon is running three freaking companies. I'm not even naming the other smaller ones. He's running boring company. He's running SpaceX. He's running Tesla. He has a solar deal. He's doing all this other stuff that he's doing. And he's doing more interviews. He's talking to people left and right. He's doing media. The guy probably sleeps four to six hours a night. I think Zuck is probably sleeping eight hours per night. Pat, you're missing the big point here.

Starting point is 01:41:28 He's just gonna plug in a neural link, Bruce Lee chip, boom, and all of a sudden, he's gonna know every single karate move out there. It's like the matrix. I don't know how many of you love Muscat. Maybe, maybe I'm just spiteful because Zuck took me down from Instagram. You know how to be dope too.

Starting point is 01:41:43 By the way, shout out to Oscar from Evolve Digital for getting my Instagram back. You're not using that? Yeah, okay. But maybe I'm just spiteful. But I'm, but hardcore. Let's look. Can we talk about the submarine situation here?

Starting point is 01:41:55 What's going on? So first of all, missing Titanic submarine updates. Fears grow for Titan crew as oxygen supply runs out, but rescue bit continues. This is a son story from today. The missing Titanic submarine named Titan is fear to have run out of oxygen, raising concerns for the crew's survival. The vessel disappeared during a voyage to the Titanic shipwreck

Starting point is 01:42:14 of the coast of Canada, approximately 435 miles south of St. John's newfound land. The Ocean Gate Expedition submersible measuring 6.7 meters 22 feet long carry a 96 hour oxygen supply on board with British billionaire adventurer harnage harding UK based businessman Shahzada Davoud and his son Soleiman ocean gate I was about to do ocean gate ocean gate your stock and rush and French sub-so what does it say? Submercible pilot Paul Henry Nergalette, the international rescue offer effort has intensified in such a way where the RAF USAF

Starting point is 01:42:55 dispatched in a specialist ultra deep sum. Anyways, they're trying to get to these guys, the eight, but it's not succeeding, right? The US Coast Guard confirms the development deployment of the French remotely operated vehicle Victor 6000 to aid the search. They're gone. What do you know about the story? I know this Pat, that their oxygen ran out and God, if they are, they have passed God rest their soul seven o'clock this morning.

Starting point is 01:43:16 Eastern Standard Time, that was it. They're on their way. If it ran out. It's not, that's all the time. If they haven't surfaced, there's no more oxygen in that little thing. And apparently, it was only big enough for one person to stretch out at a time. The one thing that jumped out for me is the Stockton Rush,

Starting point is 01:43:32 the CEO of that company, operating them, the Titanium thing, he goes, he didn't want to hire 50-year-old white guys. And this goes back to all that, people trying to be diverse and whatever. He said, when I started this business, one of the things you'll find from other sub operators Yeah out there is

Starting point is 01:43:50 They're typically our people who are ex-military summer readers and you'll see a whole bunch of 50 year old white guys I wanted our team to be younger and inspirational and he goes I'm not gonna inspire a 16 year old to go pursue marine technology But a 25 year old sub-pilot or a platform operator will be one of those texts that can be inspirational. And this is one of those things, Pat, when it comes to like, you know, you've got it in airlines with the pilots.

Starting point is 01:44:12 I don't want to be like, you know what, just because of diversity requirements, I want this type of person or a female. The best person at the job I want having, I mind you, Pat, you know they had a 35 year old, like a $35 Xbox controller on this thing. That's one thing. Number two, your billionaires,

Starting point is 01:44:31 what do you just have nothing else to do? What are two billionaires going on a little can and going to see the Titanic wreckage? Go watch the movie Titanic, go watch a documentary, do you have to go down there and look at it, what's your obsession, what is it Pat? You have a couple of dollars, are you going in a submarine,

Starting point is 01:44:51 a baby submarine and going down with your kid to go look at that? You have to listen, I will tell you, I know people that are very interested in space and they wanna go out in space and see what's out there. I know people that are more interested in going under and see what's down there, whether it's, you know, my son Tiko wants to know if there's a megalodon, he thinks a megalodon exists and he thinks aliens exist, right?

Starting point is 01:45:14 I respect them. And that's great. And by the way, there are some people that are, they didn't James Cameron go to the lowest point of the ocean when he was doing 5,000 something. What was the? Mary Anna Strunch and the Pacific Ocean. Him and his other people did that. Where we went all the way down.

Starting point is 01:45:28 These are guys that challenge you deep. Yeah, these are guys that like stuff like this. And by the way, here's what's crazy. We have to respect these guys because they're trendsetters. They're not doing this. You're not James Cameron going down there saying 100% we're going to make it. No, you're going down there saying shit. We may not make him when we come back, right?

Starting point is 01:45:45 It's not for everybody. When I was in the army, what wondered the things we had to do, and I'm sure you remember this year, there was this river, and they had built this tube like this, okay, to go under the river, because you're gonna have to do this when you're in war. He says, okay, you gotta go through this,

Starting point is 01:45:59 it was like 50 yards to go under. And when you're low crawling, and I'm a big guy, I'm like, if you ever had an MRI, na na na na's two, my shoulders are touching and you're in there for like 45 minutes. If you have any slight touch of claustrophobic and you're in the middle and you feel stuck, do you know what that does to you? Do you know what that does to you when you're in the middle? I can't move. I can't move. And you're trying to get out and you panic, right? Of course. So this isn't for everybody.

Starting point is 01:46:29 And that's you. This isn't something to do. But, you know, look, whether a miracle happens here or not, or it's done, done, we're going to find that here in the next couple, whatever. But one point you make that's very valid when it comes down to hiring jobs like this, this is where the DEI score, no one should care about.

Starting point is 01:46:50 When it comes on to military and security, no one should look at the DEI score. When it comes on to protection of your family, no one should look at the DEI scores. When it comes on to flying, and I'm trusting to fly a pilot, no one should be looking at the DEI scores. When it comes on to anything that has to do with my safety, your safety or family safety is on the line, the last thing you should

Starting point is 01:47:09 be thinking about is DI. Matter of fact, DI shouldn't be looked at anything, but especially in the area of safety and security. And they dropped the ball here. So, you know, as they're going to be conspiracies, do you know who's on there? Do you know what the guy had access to? He had a patent that he was about to launch it. Yeah, I mean, there's that part of it as well. But, you know, it's unfortunate. Like the guy Shazad the Houd, he's a Pakistani billionaire. He was speaking at the, I think he's in the world

Starting point is 01:47:39 economic form. And that's already people are like, here we go. He's that guy in this sun, but it's like, I mean, God rest his soul that they passed, but I mean, that's just the they've been down there knowing they're going to die for 90 hours, banging on the whole and hoping to God that somebody comes and save them. But I think you said it yesterday. That's what happened. That's what happened. It's a catastrophic failure on the ground. Yeah, or yeah, or imploded, but Tom, you said it. Their search radius is the size of Connecticut. You know what that means.

Starting point is 01:48:06 You're not getting found. But then you think about it, Pat. Like besides the hiring of the people controlling it, you're not going down there with the state of the art. I want the GPS on this thing better be top notch. That's how just so they can find me. What do you bananas? Well, I mean, if they, if they,

Starting point is 01:48:23 let's just say God forbid, they don't make it. They go to heaven. And St. Peter is saying, so what happened? How'd you end up here? Look, you know, we, we try to go see the Titanic, but I will tell you God. I hope you'll be proud of our ESG school. Okay.

Starting point is 01:48:38 I hope you'll hear. Listen to me. I want to know you, we'll tell you right now. See that 25 year old, look. You think God is woke? You think God is woke right now. Say now what? No problem. I mean we have now rainbow colored Cloud so you can go over there and you know

Starting point is 01:48:51 What are you talking about? I don't know what kind of I definitely play back gammon God says hang on man. I invented the rainbow. Yeah, or no except with one additional color that was missing With the one that you have but anyway, I last story before we wrap up, I'm going to touch this one as well. MSNBC president opened to Trump Town Hall and gring liberals. MSNBC president Rashida Jones indicated openness to hosting a town hall with Donald Trump. If he requested stating what I say, yes, it would be a conversation. I think you'd have to put parameters about how to control the environment. She emphasized the network's discussions with all the candidates.

Starting point is 01:49:24 I'm bringing their viewpoints to the audiences through various formats. The statement drew criticism with former MSNBCO's Keith Obramant calling for a new president at the network and stating once again, you have my most sincere apologies for what MSNBC has become CNN's. Christine Amampur also disagree with allowing Trump in this format, saying, I still respectfully disagree with allowing Donald Trump to appear in the particular format So listen CNN does this Chrissy gets fired okay

Starting point is 01:49:52 Now after Chrissy gets fired when CNN does it all MSNBC did was criticize CNN now They're saying they're open to the idea of doing this so is this just a whole point Tom that capitalism works And if you need eyeballs, you got to give a guy like that the set because he's gonna bring eyeballs to the Network Yeah, let me read a translation. There is a translation that was of what he actually said. Let me read it As Ed sales and carriage fees are in the tank We're very interested in anything that will generate revenue for MSM. I retract my previous comments about a Trump debate because we could make a hell of a lot

Starting point is 01:50:30 of money here. Please ignore my talent that is about to go into orbit. That's what exactly went on. Wow. Well, thank you for that, Tom. Do you think it's different than that, Pat? I don't think it is. I think capitalism works.

Starting point is 01:50:42 And I think capitalism wins because at the end of the day Yesterday Tiko's having a conversation with Lincoln. We're finishing up the book here with choose your enemies Why is that can't wait to launch this every time I read it? I get more excited about yes Anyway, it's gonna be awesome come up six months But one of the conversations we're having is hey, he's asking hey pat daddy. What's the difference between you know? What do you call it a republic and a Democracy yeah, so hey, we do you call it, a republic and a democracy. Okay, yeah. So hey, we're having this conversation. A republic is when democracy is when the

Starting point is 01:51:11 majority is protected because you're listened to the majority and a representative republic is when the individual is protected from the majority as well as the majority is also protected, but the individual is also protected in a republic, you know, and says, well, are we a republican and a democracy? Well, I pledge allegiance to the flag of the United States of America and to the republic which sends one nation under God in the visible liberty and justice for all, right? Okay. So, okay. So that's what it is. Yes. Eventually, in these types

Starting point is 01:51:40 of settings, when these who found it America on this freaking insane piece of paper, the Constitution, man. So lucky. Do you realize like how shit's gonna hit the fan here and there, but the level of gratitude we ought to have for these folks that came up with this? You and I would have never met. None of us would have met here. It's just because of what these men did.

Starting point is 01:52:05 1775, 1776, imagine what these guys had to do. So there is a protection to protect the constitution and there's trust in known capitalism works. The reason why capitalism works, look at the capitalist, I myself, when the company sold PHP, people got checks, there's a level of loyalty from us to each other when that happens, right?

Starting point is 01:52:27 Anything you do big, nothing's gonna be built big if other people are also not participating in the victory. Right now, what's happening with folks like MSNBCCN and guess what they're saying? Hey, someone behind closed doors, they're having this, you know what the behind closed doors conversation is? It's not, why are you supporting Trump? You know what the conversation is?

Starting point is 01:52:42 Hey, what's up with this loss? We can't only do this for three more months. If we keep losing the kind of money we're losing right now, you're Trump? You know what the conversation is? Hey, what's up with this loss? We can't only do this for three more months. If we keep losing the kind of money we're losing right now, you're fired. You know what? Call Trump. Hey, President Trump, can you please come and do this? You're going to do this?

Starting point is 01:52:53 We've got to do it. Capitalism works. Capitalism exposes bullshit. The longer you stick around and you're like, and I'm talking about real capital. I'm not talking about crony capital on top of stuff. Eventually somebody says, Damn it, you got to trust incentives.

Starting point is 01:53:10 Incentives makes everybody realize how about to get my act together. Anyways, Gank, great podcast today. We didn't have the schedule to do it, but we said, let's go ahead and do it, emergency podcast, made the announcement. Appreciate my phone is blown up, I got so many messages right now.

Starting point is 01:53:24 People sent me messages left and right to everybody if I haven't got that. Go Yankees, maybe. Yes, the day.. Appreciate my phone is blown up. I got so many messages right now. People sending me messages left and right to everybody if I haven't got back. Go Yankees, maybe. Yes, the day. Congratulations again. Thank you. Thank you. Yesterday I was getting back to Happy Father's Day messages.

Starting point is 01:53:33 That I'm like, this a man. Thank you and happy-related Father's Day to you, my phone. But I'm like, anyways, but look, a couple of things you do need to know. We are talking to two or three big names for the next live podcast at 59.90 live. I'm telling you this right now, you will wanna be at these, but they're not gonna stay.

Starting point is 01:53:56 I'm telling you right now when we announce the text, you gotta get your tickets, because it's gonna sell out ASAP, and every time we do this, we have the sheriff there, we have security there, we have guards there. It's no joke. It's no joke when we do these types of events We're about to announce the next one text award podcast to 310 340 132 Once again, Rob if you can put it on the bottom

Starting point is 01:54:15 So they have a text award podcast to 310 340 1132 just we just can't wait to see you guys on our next live one Yeah, because the energy is gonna be even crazy with all the stuff that's going on But if you do want to get registered for the next one, again, text toward podcast to 310-340-1132. Have a great weekend, everybody. Take care, bye, bye, bye.

PBD Podcast - EMERGENCY PODCAST - PBD MAKES MAJOR ANNOUNCEMENT

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