The Daily Show: Ears Edition - Trump Wrecks White House & New GOP Nazi Group Chat Drops | Catherine Bracy

Episode Date: October 22, 2025

Michael Kosta checks in on Trump's latest White House makeover, which includes demolishing the First Lady's quarters to build a gigantic ballroom in the East Wing. Plus, while a Democrat apologizes fo...r problematic Reddit posts, Trump's nominee for special counsel blames his pro-Nazi text messages on AI, and Ronny Chieng teaches politicians how to get away with racism. From Fox News to Trump, everyone on the Right is calling NYC mayoral candidate Zohran Mamdani a "communist.” Desi Lydic sits down with Joe Sims, the co-chair of the Communist Party USA, to discuss how we’re using the C-word all wrong. Catherine Bracy, author of “World Eaters: How Venture Capital is Cannibalizing the Economy,” talks to Michael about the evolution of venture capital, from its origin as a mid-20th-century funding solution for risky companies with big potential for technological advancement, to the harmful economic backbone of the tech industry it has become today. She describes how the investment structure of venture capital pressures companies to “move fast and break things,” has made for a tech industry that prioritizes investors, often at the expense of consumers, how that model has festered into other corners of the economy, including housing, and how the organization she co-founded, TechEquity, is working to put guardrails on Silicon Valley to ensure that tech benefits everyone, not just a few people at the top. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Starting point is 00:00:00 You're listening to Comedy Central. From the most trusted journalists at Comedy Central, it's America's only sorts for news. This is The Daily Show with your host, Michael Costa. Welcome to The Daily Show. I'm Michael Costa. We've got so much to talk about tonight. The White House shows whole.
Starting point is 00:00:39 Communism is running wild and texting about how you're a Nazi, good idea or bad idea. I investigate. So let's get into the headlines. Come on. The government shutdown is now in its third week. Countless federal employees aren't being paid.
Starting point is 00:00:58 Food stamps will run out soon. And there's no end in sight. But not to worry, President Trump is working day and night to build a ballroom. It's exactly what you voted for, coal miners in Pennsylvania. 90,000 gilded square feet for Trump to do the jerk-off dancing. Got it. But if you're worried such a renovation might damage the people House, let Donald Trump put your fears to rest.
Starting point is 00:01:33 It won't interfere with the current building. I won't be. It'll be near it, but not touching it. And pays total respect to the existing building, which I'm the biggest fan of. It's my favorite. Yeah, it's my favorite. I never want to leave. And I'm never going to. I believe it's his favorite building, though. He loves the history, the decor, the immunity from criminal convictions that it provides. But great.
Starting point is 00:02:00 The White House itself is going to be fine. They're not going to touch it. They're not even going to touch it. This morning demolition day at the White House, crews tearing down walls as construction for President Trump's 90,000 square foot ballroom ramps up. It looks like they touched it. I mean, holy shit.
Starting point is 00:02:26 Who's his general contractor, Bin Laden and sons? Apparently not touching the White House turned into demolishing the White House. And for what? Does he really need a ballroom attached to his home? I mean, it would be good to have one room where Baron didn't have to crouch, but still. I mean, they're tearing apart the entire East Wing. I hope there's nothing important going on there. Constructed in 1902, the East Wing House is the office of the First Lady.
Starting point is 00:02:58 That's harsh. That's harsh. Do you think Trump warned Milanian in advance, or did a crane just scooper up mid-bubble bath? Let's move on. You might remember that last week there was a little bit of a scandal where members of the young Republicans group had a bunch of their text leak,
Starting point is 00:03:22 where they reportedly made jokes about sending people to gas chambers and how much they loved Hitler. But it was a one-time thing. And now, hopefully, the Republican Party can move on from this isolated incident of Nazi text messages, right? Right? Right?
Starting point is 00:03:40 President Trump's nominee to lead the Office of Special Counsel's in Jeopardy after the publication of a group chat. The nominee, Paul Ingrossia, saying, I do have a Nazi streak in me from time to time, quote, I will admit it. First of all, why do these guys who think that the master race
Starting point is 00:03:56 always look like this. It's never a Hemsworth. It's always a big toe with eyes. But yes, we have yet another Republican apparently sending Nazi texts. And I've never heard someone say they have a Nazi streak before. That's by far the worst streak you can have.
Starting point is 00:04:18 Even worse than the streaks I got freshman year in high school. Look at that. And when you see his other reported texts, You know it wasn't a streak. It was more like a lifestyle. Ingracia allegedly wrote, Never trust a Chinaman or Indian, never.
Starting point is 00:04:35 Grascia uses an Italian-American equivalent of the N-word saying, quote, no blank holidays from Kwanza to MLK Jr. Day to Black History Month to Juneteenth, adding every single one needs to be eviscerated. In one exchange, he wrote MOK Jr. was the 1960s George Floyd, and his holidays should be ended and tossed into the seventh circle of hell where it belongs. That prompted another participant to respond, Jesus Christ.
Starting point is 00:05:05 Wow. Wow. You know you're racist when even the guys in your racist group chat are like, Jesus Christ, that was racist. Look, in general, I try not to judge people on what they say in private. Our group chats should be a safe space to express ourselves, where someone can say, I don't know, that they can't shake these feelings about their hot cousin, Stephanie. By the way, Stephanie, you never replied to that.
Starting point is 00:05:38 But the point is, I don't love people getting scrutinized for their private thoughts. But on the other hand, what I don't love even more is Nazis getting nominated to our government. Because I, Michael Costa, believe Nazis are bad. And that's my brave political stance of the day. I know. I'm a hero. I'm a hero. Now, to be fair, having a paper trail of offensive comments isn't just a Republican phenomenon. Up in Maine, there's a Democrat named Graham Platner running for Senate. He was getting a lot of momentum until this happened.
Starting point is 00:06:25 CNN reviewed social media posts mostly made under Plattenor's Reddit handle five years ago that were deleted ahead of his campaign launch. In them he once called himself a communist dismissed all police as bastards and said rural white Americans actually are
Starting point is 00:06:41 racist and stupid. Oh boy, a communist who hates police and thinks rural white people are stupid. Mr. Platner, you must step down from Maine Senate race and move to Brooklyn to be their anointed king. I'm kidding.
Starting point is 00:07:03 I think Plattner still has a chance. Sure, his posts are offensive to rural white Americans, but keep in mind, most of them can't read. But hey, it's at least refreshing that we found someone's old posts. And for once, they weren't saying racist things about black people.
Starting point is 00:07:18 In another controversial comment, Plattner referenced his time bartending, asking why black customers, quote, don't tip. Okay, so now I'm having a hard time figuring out this guy's politics. He's like, we've got to stop the police from abusing these cheap black people. Keep in mind, he's from Maine. So the stereotype he's relying on is based on the one black guy from Maine. And that black guy is actually just a white guy who likes hip hop.
Starting point is 00:07:52 And this is why I never post that. on Reddit. Well, that and I'm banned, okay? Apparently, ask me anything doesn't include asking for butthole picks. And, again, my apologies to historian Doris Kearns Goodwin. There's a lot of strange jokes here, and you guys are doing a great job with it. Just right in and right. But look, I'm not going to pretend that these two guys are the same, or that What they said is even on the same level. And one of the ways you can differentiate them is how they respond to their leaks. Graham Platner, let's start with you.
Starting point is 00:08:33 You asked why black people don't tip. Please report to the nearest podcast and explain what you meant. What's your response to people who hear that and think that is like textbook racism and it's offensive? I remember this time when I first started bartending. And then I had a conversation with a friend of mine who was black, who was a bartender, who did a great job of walking me through. structural injustice and the feelings of lack of agency
Starting point is 00:08:59 there were a whole bunch of reasons and after that I was like I that makes absolutely perfect sense okay there you go Platner says I thought black people didn't tip but then I talked to a black person and now I still think black people don't tip but it's
Starting point is 00:09:14 but it's because of structural injustice I give that apology a solid B minus and I I will say, they should add that as an option to the iPad screen, 20%, 10%, or making up for structural injustice. Why would do that?
Starting point is 00:09:34 But, okay, Platter acknowledged his mistake and learned from it, which is great to see. Plus, love the hair, right? Now, what about Mr. Nazi streak? Mr. Let's send MLK Jr. Day to hell. Let's see how he responded to his scandal. Now, reached for comment by Politico, and Graski's attorney said, in this age of AI, authentication of allegedly leaked messages is extremely difficult.
Starting point is 00:09:59 Okay. First off, if your apology starts with in this age of AI, that's not a great apology. Babe, did you forget to flush the toilet? Listen, honey, in this age of AI. He didn't even say AI doctored his messages. He just said, AI exists, deal with it. I'm sorry, sir, but that apology is not going to cut it. If you think the administration of Donald J. Trump will tolerate Nazi rhetoric and ideas,
Starting point is 00:10:29 the White House doors are closed to you, okay? But you can enter through the hole in the east wing, because it's wide open. Now, for more, for more on the response to both scandals, we go to Maine with our very own Ronnie Chang. Ronnie. Ronnie, what's the latest on these leaked messages? Well, they make me sick, Michael. Nobody should be writing racist shit online.
Starting point is 00:11:01 Thank you. Thank you. I totally agree, Ronnie. They should be saying racist shit in person, all right? That way, there's no paper trail so they can keep saying racist things. I thought you're going to say people just shouldn't be racist at all. Don't be such a stupid white moron. all right people people are always gonna be racist but before technology you just quietly be
Starting point is 00:11:26 whispering it to your friends all right and for example you walk by me and then i say to my asian friend like wow can you believe he wears those shoes from the subway into his bed what a what a gross race of people and then i walk by you and then you turn to your white friend and then you'd say racist things about asians like Like, what would you say about Asian people? I don't say racist things about Asian people. Come on, man. I already said my racist thing, all right?
Starting point is 00:11:56 This is a safe space. Just go, you wrong, a giraffe. All right. You're asking me to it. So I guess if I said anything, if I have to, it would be, stop taking so many pictures, you know, like. You asked me. The Internet exists.
Starting point is 00:12:17 How many photos of the Empire State Building do you need? Wow. Wow. That was so racist. Okay, we need those pictures because of structural injustice. You made me say it. You made me say it. No, no, no, no, no. It's okay. It's okay because we didn't write it down. So no one's ever going to know how racist you are. Okay, okay. Can we just get back on track? Do you think this is going to derail? any of these men's political careers? No, no, probably not. I mean, the Nazi guy's Republican, so his approval rating went up,
Starting point is 00:12:57 and the guy from Maine is in Maine where everyone's on heroin, so they got bigger problems, all right? Also, racial curiosity is not a bad thing. I mean, he's got questions about black people. Just like I've got questions about white people. For example, I've always wanted to ask, why don't white people wash their legs?
Starting point is 00:13:17 Okay, I'll answer you in good faith, Ronnie. It's because our maids do it for us. Okay, see? See, this is great. We are healing the nation with this dialogue. And now you get to ask me a question. This feels like a trap. No, no, no, no.
Starting point is 00:13:36 Okay, all right. Okay, all right. I guess I've always wondered why I always see Asian people driving so poorly. I mean... Oh, oh, oh. No, no, no, it's fine. No, no, I'll tell you why. It's because you are racist.
Starting point is 00:13:51 God damn it, Bonnie. You. Fuck you. Set me up again. Yeah, well. Yeah, and you set me up. Yeah, yeah, but you fell for it because Asians are smarter than you. That's true.
Starting point is 00:14:05 That's true. You people are smart. Whoa, whoa, what do you mean you people? You know what? Look, you're right. I'm sorry. I'm growing. And I will try to do.
Starting point is 00:14:17 better. Thank you. Michael, I appreciate your apologies to Asian people. And maybe you want to apologize for what you said about white people? Boy, I didn't say anything. That was AI. Ronnie Chang, everyone. I got trapped. When we come back, we have a list
Starting point is 00:14:33 of all the communists in the U.S. government. Don't go away. Welcome back for Danesha. Did you know that the way politicians describe their political opponents isn't always accurate? Desi Leidick discovered one such example. There's an election happening in New York City,
Starting point is 00:15:06 and one candidate is making people see red. Self-proclaimed New York City communist Zohran Mundani, who is a socialist communist. Well, Mandami, the communist. An avowed communist. I call him my little. communist. Well, love them or hate them, everyone seems to agree. This guy's a communist. You're saying, madame's a communist? I'm not saying that. People are saying that. Really? How come
Starting point is 00:15:31 nobody told me? I'm a co-chair of the Communist Party. Co-chair? Wow, they really make you share everything, don't they? Well, it's better. Co-operation is the name of the game. According to Joe Sims, co-chair of the Communist Party, we're using the C-word all wrong. So you're saying he's not a Not at all, no. He's a Democratic Socialist. Okay, so explain the difference to me between the Communist Party and the Democratic Socialists. Well, the Communist Party believes that capitalism needs to be replaced fundamentally. Joe, what's so distasteful about capitalism anyway?
Starting point is 00:16:05 Everything. Really? I disagree. Ooh, my package is here. I'm waiting for this. Ugh, it's the wrong color. What were you saying? Anyway, socialists in this country generally believe that capitalism can be reformed,
Starting point is 00:16:24 but also socialists believe that they can function within the framework of the Democratic Party. But we don't believe that the Democratic Party can be reformed. Well, I agree with you there. Oh, God, does that make me a communist? Oh, my life, I thought communism was about military parades. dictatorships and using the full apparatus of the state to train one single boxer. I must break you. Oh, mama.
Starting point is 00:16:53 We've gotten a bad name over the years, bad reputation, I should say. People believe that communism and socialism means government control. But that's not true. No? No, not at all. Socialism, communism, and democracy are not opposites. And one of the great things is that you should be able to choose what you do. Perhaps you'd like to run a food co-op.
Starting point is 00:17:15 And if you don't want to run a food co-op, maybe you'd like to run a farm. And if you don't want to run a farm, maybe you'd like to run a theater company. I don't think so. Maybe you'd like to be a fisher person. Nope. Hey, park ranger. No park ranger. How about an astronaut?
Starting point is 00:17:33 Terrified of space. Tell me what you'd like to do. You can spend more time with your family. Ugh, that's the worst. So communism isn't for me, but why do people think that Mom Dani supports it? Mom Dany. He's a communist. What is it exactly that you think people see Mamdani doing that would cause them to call him a company?
Starting point is 00:17:53 He champions affordability. Any effort to put forward an idea of a more equitable distribution of wealth is labeled socialist or communist in an effort to just dismiss it out of hand. It's called red-baiting. Red-baiting. Red-baiting, anti-communism. Goal is to just divide people. That's what happened to us during the McCarthy period, you know? Okay, but McCarthyism was 70 years ago. Surely we've learned our lesson by now.
Starting point is 00:18:31 Members of Congress and even former presidents have been openly embracing vile creeds such as socialism, Marxism, and straight-up communism. AOC, the little communists from New York City. Comrade. Kamala Harris is a radical left Marxist, communist, fascist. Can the commie cavalry save the day? Okay, that sounds a lot like red-baiting.
Starting point is 00:18:52 But how do we know for sure that the Democratic Party isn't full of communists? Joe, it was time to name names. Not a communist, no, no, no, no. AOC is what she says she is. Not a communist. That's a no. Right. Please, no.
Starting point is 00:19:09 No. No, not a communist. Not a communist. So none of these Democrats are communists. You know, people really need to stop throwing around the sea word. It's insulting to actual commies, like my friend Joe. It's up to me to set the record straight and remind people that words matter. What do you feel about Mondani?
Starting point is 00:19:31 I think he's extremely dangerous. I would categorize him as a communist. But he's not a communist. I think that he may be a communist. You are going to be so relieved to hear this. I just learned he is not a communist. he is a democratic socialist. Well, he can call himself that.
Starting point is 00:19:47 I spoke to the co-chair of the Communist Party, and there's actually a pretty significant difference. See, communists believe that the capitalist system cannot be reformed. Democratic Socialists, they believe... ...merementally make changes... ...work within the framework of the Democratic Party has been captured by the billionaire class. But I'm sure you already know all that.
Starting point is 00:20:09 I disagree with you. I apologize. So even though people... weren't convinced. If we're going to be divided, at least the red baiting will be word perfect. Thank you, Debbie. When we come back, Catherine Grace will be joining me. Don't go away. Welcome back to The Daily Show. My guest tonight is the founder and CEO of Tech Equity and the author of World Eaters, how venture capital is cannibalizing the economy.
Starting point is 00:20:53 Please welcome Catherine Bracey. Come on. This audience, this audience, Loves Venture Capital. Yeah, it sounds like it. Thank you for writing this book. Great book, World Eaters. You opened the book talking about your experience
Starting point is 00:21:22 of living in Oakland when Uber moves in. Share that story with us and why it inspired you to write World Eaters. Yeah, well, so I moved to the Bay Area in 2012. Oh, yeah. Yeah, big time. Go Warriors, I think. Yeah, that's good, yeah.
Starting point is 00:21:38 I moved to the Bay Area in 2012 from Chicago. I was working on the Obama campaign. They sent me to... What else can I throw out? Yeah, I know this is good, really good. Okay, all right. I moved there to open our technology office, and 2012 was like the peak of the internet.
Starting point is 00:21:58 Those were the good old days, back when the gig economy was still the sharing economy. The Don't Be Evil era. And I decided to stay because it was a really... because it was a really exciting place to be after the campaign was over. But I wanted to live in Oakland. I preferred Oakland. It was a little bit more, let's just say, colorful than maybe San Francisco was.
Starting point is 00:22:20 Fair enough. And we kind of had the best of both worlds over there. Like we could see, benefit from all the stuff that was going on with tech, but a little bit sheltered and still had, you know, just normal people. Yep. And then one day, Uber announced that they were moving in across the street from my apartment building. apartment building, and the community totally revolted. And I had kind of been in a little bit of like a fairy tale,
Starting point is 00:22:45 like not really seeing how, you know, the tech industry was evolving, and it turned out to be not great for a lot of people. And, you know, it occurred to me then that, like, their reaction, my neighbor's reaction to Uber coming to town was actually a rational reaction, and that struck me as something that had gone wrong in the economy. And, you know, grew up in Michigan in the 80s, If a company had announced they were bringing 2,500 good jobs to downtown Detroit, you know, there would have been parades, right?
Starting point is 00:23:15 So, like, what went wrong? Yeah. And so I started tech equity to answer that question and really think about how we could redirect the energy of the Internet, which felt like it was going towards not the future we were promised, to better things for better people, so that as tech was growing, it was benefiting everybody. And long story short, I came to understand that there was this force that was directing the industry towards these really negative outcomes,
Starting point is 00:23:40 and that force was the economic structure that surrounds the tech industry, and that's, of course, venture capital. Okay, and I know, but there's some dumb idiot in this audience that doesn't know what venture capital even means. Well, I didn't really know. So actually, you know, I kind of wrote this book for myself, so it's super accessible in that way.
Starting point is 00:24:00 But, you know, essentially, so it may be some history is helpful here. Venture Capital was pioneered in the middle of the time, 20th century to solve a real problem, which was that there wasn't enough what they call risk capital in the economy to support breakthrough technologies that were going to, you know, not just create financial benefit, but also really like change the world in a positive way. People investing in risky ideas. Yeah, startups that were bringing new, you know, the idea was new technologies to market, and it wasn't clear whether they could even be commercialized. And, you know, traditional financial investors were not really willing to take those kinds of risks.
Starting point is 00:24:36 So some civic and business leaders developed this hypothesis that if they created what they called portfolio approach, if they pooled their money and then spread it out across a bunch of different companies instead of just going one by one, they could see these big returners that would more than make up for the failures. And that worked. And it turned out to be the natural result of when you invest in high-risk startups, what happens in the portfolio. that's called is the power law, and that's now, like, the law that governs Silicon Valley. And you talk about the power law here, and it's essentially that the driving force behind why venture capital wants risky ideas and companies.
Starting point is 00:25:24 Well, basically... Did I just fucking crush that, or what? No, I mean... How about... Can I use a sports metaphor? Please, thank you. I've been waiting for a sports metaphor. Well, venture capitalists like to say that what they do is hit grand slams.
Starting point is 00:25:42 It's not even a home run game, it's a grand slam game. So, you know, if you're like, you know, Mark McGuire and Sammy Sosa, your strategy is every time you go out to bat or whatever, is that... That's right, that's right. You're doing this right. You're trying to hit a grand slam. Right. And that ends up really distorting how you approach baseball. And, like, for those of us who remember the Bash brothers, you know, what it usually means is you end up cheating and taking drugs and doing all these things.
Starting point is 00:26:13 So, like, ensure that you get Grand Slam outcomes. It's not enough to just hit doubles and triples, even though that's a totally, perfectly fine way to win a baseball game. Yeah, why, you know, you described it in the book, but why don't, why isn't venture capital investing in a company that hits singles and doubles? Well, what they will tell you is you have to achieve the. power law. And we don't know which of these companies in the portfolio are going to be the grand slams. So we force every company in the portfolio to try to be that outcome. And by forcing all of these companies, there's like 10 or 15 companies a year that really naturally have that potential. And thousands of startups get venture capital. For all of those companies that are not
Starting point is 00:26:56 actually built for that kind of growth, it creates a whole bunch of harms that we usually, society ends up paying the price for. Meaning these companies are forced to grow too fast or not create a better product for us? Move fast and break things. It's basically what it is. There's a sort of playbook for VCs called blitzscaling. And that's pretty much what they try to do.
Starting point is 00:27:22 And, you know, I mean, I think they may be regretting naming it after a Nazi military strategy, but not exactly great branding, but, you know, You're trying to move as fast as possible to get as big as possible, take as much market share as possible, as quickly as possible, and you steamroll everything in your wake to get there. One of the things I love in the book was when you start talking about software and why V.C. loves software because they can scale it up faster. And I am furious. Everywhere I go, I have to fill out an online form. I take my family skiing and it's like you can't even talk to a human. It's fill this thing out. insurance, it's fill out all the stuff.
Starting point is 00:28:03 And after I read your book, I'm going, holy shit, is that because of venture capital? Well, I mean... I know you don't maybe know the exact specifics of where I go skiing with my family. I do think, I mean, it is a question. The reason I called the book World Eaters is because, you know, what really did actually work for certain types of companies that were building deep technology or software companies where this model of moving fast, trying to get a as big as possible, as quickly as possible,
Starting point is 00:28:33 did actually make sense. Now you're applying it to every corner of the economy. Everything from like fast casual restaurants. Do you know Kava is VC backed? Like why does a fast casual restaurant need venture capital, right? Everything from that to like the housing market and housing is one of the issues I write about in the book. It's not built to scale like software.
Starting point is 00:28:53 Talk more about that. That was really fascinating and blew me away because there's a part of me that thinks, okay, VC shouldn't be in fast casual restaurants. But I don't really give a shit about that restaurant, whatever. But housing, this is, I mean, housing is one of the fundamental purposes of our life and who we are as a people. The cornerstone of the real economy, right? That's how you say it.
Starting point is 00:29:16 That's why she wrote the book, and I'm asking your questions. Why is VC in housing? Yeah, well, they're in housing because they're trying to make a lot of money and everything is now a financial asset. And that's what they do. But what they would tell you is, like, this is an industry that's ripe for disruption, and we need to bring this new mindset to this industry to make it work better.
Starting point is 00:29:42 But what works for software does not work for brick-and-mortar building houses. And it definitely doesn't work for the kinds of financial vehicles that they're developing in order to, like, get more people on the ladder to home ownership, which is one of the things I write about in the book. Some of these really predatory financials,
Starting point is 00:30:00 predatory financial models that are now juiced, you know, by VCs to exploit and extract. When there are other models that do actually help people get on the home ownership ladder that can't find the capital they need to build out those models because they aren't, you know, they're not going to hit the grand slam. They'll maybe only be a triple. So let's say you are, and you talk about and you share some of these stories in the book, and one thing that I took away from it was I was happy there are good people out there. There are good companies out there that aren't just going for these huge returns.
Starting point is 00:30:32 But what do you do if you're trying to start a good business that's going to be of service to people and your community and you need money? Do you have to work for these ghouls in VC? Or can you do it differently? I mean, you can. It is very hard. And actually, one of the stories that really brought home to me how hard it actually is is the story of OpenAI. And I interviewed Sam Altman for the book before he got fired. And he told me, you know, Open AI, I don't know if many people know this, is a nonprofit. Right. The same way, you know, a local soup kitchen is a nonprofit.
Starting point is 00:31:10 Strange. Yeah, very strange. A $500 billion nonprofit. But he told me, he very explicitly, he set up Open AI as a nonprofit because he did not want to be held to the same standards that a normal tech company would be held to and have to raise venture capital. he understood very clearly how investors would manipulate the incentives around the technology. And he said this technology is too dangerous to be at the whims of investors. Right. And even he, who has already had this great reputation in Silicon Valley and this company was the darling,
Starting point is 00:31:46 they are now rolling back their nonprofit structure and opening it up to investors. And investors run the show there now and are in charge of the direction this technology is going to take. We were promised, here's for cancer, and robots that were going to fold our laundry, and we're getting, you know, sexed vots for eight-year-olds and, you know, all of our jobs automate. I mean, that's true, you know. So, you know. So the investors start to take over the idea, and that's where everything gets all f*** up. And if Sam Altman can't do it, it's really hard for just any old entrepreneur off the street to come in and say,
Starting point is 00:32:20 I'm going to do this without venture capital. So it's really like the solution set has to be more structural. And I do talk about people who are really creating the template that we can follow, but it's going to require bigger systemic change in order to make those the norm. What are some other solutions you think we can do or that we should be aware of or supportive of? Yeah, well, first of all, you know, there are some sticks like closing the carried interest loophole. That's too won't know what the hell you're talking about. I won't get into it.
Starting point is 00:32:55 You talk a little bit about IndyVC, which I thought was really compelling. Yeah, and then there are carrots. So there are ways that the government can, you know, sort of catalyze money to flow to these other types of funds like IndyVC, which is basically doing, to extend the sports metaphor, they're playing money ball. They're trying to make money off of all, the vast majority of startups that are actually doubles and triples. There should be an opportunity there. And it's unclear why Silicon Valley isn't necessarily. pursuing that. So, you know, there are ways that the government can sort of shape financial markets so that
Starting point is 00:33:31 money will flow to funds like that. And I, you know, outlined some of that in the book as well. It's a refreshing voice in the tech world right now to read this book because it just feels like we're all victims of what is about to happen to us. And you explain kind of how we got here. Talk a little bit about your CEO and founder of tech equity. I don't hear tech and equity together too often. Talk a little about that and what that means.
Starting point is 00:33:56 Yeah, so we mean like the DEI type of equity and not the equity like I own a share of the company equity. In Silicon Valley, that's something you have to, that's a distinction you have to make. So, you know, we're trying to bend that arc of the tech industry towards better, you know, making sure that the industry is creating an opportunity for everybody and not just sucking all the wealth up to the top.
Starting point is 00:34:19 You know, we're not making as much progress as I would like, but, you know, we see you. California as a place where it's really possible now that the federal government is no longer a place where you can really make policy for people anymore. Trying to regulate AI in the backyard of where the companies are building it and put some guardrails around this technology and, you know, the investment that's going into it. So we've had some wins. We passed a bill that that makes it illegal for tech companies to use algorithms to set prices artificially high. that's good this year yeah yeah yeah more work to be done a lot more work to be done
Starting point is 00:35:03 thank you for writing the book thank you for being here world eaters is available now katherine bracy everybody we'll be right back after this our show for tonight. Now, here it is your moment of Zen. You came through this door. Did you notice the white marble floor that was put there? That was made out of Home Depot tiles, about one foot by one foot. They were all broken, about 30 years old. And I replaced it with book matched marble, paid for by your friend, President Trump. Explore more shows from The Daily Show podcast universe by searching The Daily Show, wherever you get
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