The Pomp Podcast - #1560 Anthony & Polina Pompliano | Bitcoin Nears ALL-TIME HIGH Despite Debt, Chaos, & Riots

Episode Date: June 10, 2025

Polina Pompliano and Anthony Pompliano discuss Circle IPO, bitcoin, rise of crypto companies on Wall Street, what it means for your portfolio, what is going on with LA riots, how we could solve the problem, and why Invest America is pushing to give every newborn $1,000 to invest. =======================Xapo Bank, the world’s first fully licensed Bitcoin-enabled bank, offers military-grade security with an unmatched blend of physical and digital security, as well as pioneering regulatory oversight, so your funds are always protected. Beyond secure storage, they enable you to grow and use your Bitcoin. Earn daily interest in Bitcoin, spend with zero FX fees using a global card, and make instant payments via the Lightning Network for unrivalled access and convenience. Visit https://www.xapobank.com/pomp to join.=======================Maple Finance is where real money meets real yield. With over $1.5B managed, Maple offers secure lending, Bitcoin yield, and premium DeFi assets like syrupUSDC. Get started today at https://www.maple.finance !=======================Pomp writes a daily letter to over 265,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/=======================View 10k+ open startup jobs:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://dreamstartupjob.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Enroll in my Crypto Academy: https://www.thecryptoacademy.io/

This episode is brought to you by Accenture. When your advertising operations fall out of sync, everything else follows. Spotify and Accenture are working together to reinvent the rhythm of ad sales. Using automation, analytics, and smarter workflows to simplify campaign delivery and access better data across the business. The result? Less time spent on operations, more time connecting brands with the moments and fandoms that matter most. Learn more at Accenture.com slash Spotify. hear that it's your money calling it wants a promotion elevate your savings with the scotia high interest savings account always earn high regular interest rates that grow the more you

save and invest conditions apply visit scotiabank.com hisa to learn more scotia bank you're richer than you think. What's up, everyone? This is Anthony Pompliano. Many of you know me as Pomp. You're listening to The Pomp Podcast, which is my effort to find the most interesting people in the world and sit with them for hours

while I ask questions in an effort to learn. So it would mean the world to me if you would subscribe to the show on your favorite audio platform, watch episodes on YouTube, and tell your friends and family about the podcast. My goal is to help millions learn from the world's most interesting people. So let's get into today's episode.

Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only. What's going on, guys?

Today, we've got a great conversation with Polina Pompliano. In this conversation, we talk about this Circle IPO, what's going on with Bitcoin. Are crypto companies the hottest thing on Wall Street? What it means for your portfolio. And then we talk about what's going on with the LA riots. Why, actually, it is more related to the economics and monetary debasement than you may think. And then what are the potential solutions? Let's stop complaining about what's going on and talk about how we could actually solve

some of this stuff. And lastly, we finish up with Invest America, the idea to give $1,000 to every kid in America to help them participate in the stock market and in capitalism. I love it. Let's get it done as a country. Here's my latest conversation with Pullian of Pompliano. All right, Pullian, what's our first topic? The people want to get paid, I think.

Stablecoin issuer Circle launched its IPO a few days ago, and it has been one of the most successful IPOs in recent history, with shares 25x oversubscribed and the company raising $1 billion, which is more than double expectations. What do we think about this? I don't think that the oversubscription in the IPO is really the big focus. I think it's the performance of the stock after it got public. It's gone up significantly, like I think 400% or something like that.

What I will say is there's a couple of things here that people don't want to talk about, but let's talk about it. First is the investment bankers pricing the stock real low so that their clients get a big pop. Bill Gurley, many other people have been talking to us for a long time. There's a very weird incentive. The company obviously wants to raise as much money as possible at the lowest dilution possible. So they want a high valuation, but the bankers and the clients, they want the lowest valuation.

So there is some kind of thing there. That's not new. It's not the banker's fault. It's not the investor's fault. It's not the company's fault. It's just that is something that we all know about. Second thing is everyone sees the Circle IPO performance and they're like, oh my God, crypto's hot again. Whoa, whoa, whoa, whoa, whoa.

Slow down there, fella. Because I actually think that this is more about stable coins being hot, not broader crypto. And if you think about there's a lot of crypto businesses that would like to be public, if they came public, I don't think that you would get the same reaction that you're getting for Circle. So part of this is stable coins are hot, not all of broader crypto. Will there be other sectors? Of course. But I think stable coins are the big one. On top of that, you have more eyes now looking at, OK, well, how is Circle performing?

Man, Tether, which is the other large stable coin issuer, they must be worth a gazillion dollars because they're even bigger. They did $13 billion in profit. So I think we're starting to get some marks from the public market about this industry. It's very good, but I just worry, do not extrapolate out. Circle was good. Here comes the next crypto IPO. It's going to be amazing. And then I think the last thing is when you look at these businesses, one of the things

that is happening, which I keep saying over and over again, is everything is converging into finance. So you have exchanges like Robinhood, fast growing segment is crypto. You have Kraken, private crypto exchange that's now going to offer US public equities. that is a convergence of crypto and traditional finance all coming together you now have circle which is using u.s dollars in this new format of tokenization you put those together bam you've got a successful ipo and so i just think that everyone is so focused on the traditional world and the crypto world it's all going to be one big thing you're not even going to worry about which rails

is it on i just want to know does it solve a problem is it a product or service that people want if the answer is yes and it makes money and people are going to want it from an investor base Yes. And Gemini has also filed for an IPO. Go Gemini. And why go Gemini? I just think that obviously Coinbase has done a fantastic job as kind of the premier brand in the United States. They have onboarded, I think, over 100 million people as users. They were there in 2012, did a fantastic job of really getting a lot of people into Bitcoin early on.

But Cameron and Tyler Winklevoss and Gemini, I think, are kind of like unsung heroes as part of this story as well. They have consistently said, you know, there needs to be regulation. There needs to be rules. They really spent a lot of time doing that. And I think that Cameron and Tyler, in a very unique way, they drove a lot of interest in Bitcoin kind of indirectly. You know, people forget that like outside of the crypto world, Cameron and Tyler are very well known.

The Social Network movie, right? Kind of that whole story. And so their early bet on Bitcoin, they bought $11 million of Bitcoin at a very low cost. It's worth billions of dollars today. probably one of the best investments that people have had in a long time but i do think that they were able to pull a lot of like people who wouldn't have been interested in bitcoin hey why are these guys interested in this thing what's going on here then obviously they have gemini and they're now launching things like the gemini credit card and stuff like that so i just think

that uh gemini usually is uh not included in the conversation with the coin bases the binances whatever uh but i think they're a very important part of the ecosystem i think they've been a great player. We've worked with them for a long time across a variety of different things, events we've done or, you know, podcasts, stuff like that. But I do think that it's kind of like these people genuinely believe in the industry. They believe in the assets. They're trying to figure out what are the products and services that users want. And so I want to see anyone in the industry who does those things be successful. And so far, it seems like Gemini, they're going to do this IPO. I'd love to see them have the same result as Circle.

Is it fair to say that Wall Street now loves Bitcoin? Like that's the hot new thing? Well, a couple of months ago, I think we talked about the fact that Wall Street doesn't have any love for anything unless it can make money. So like Wall Street is loyal to money. And so what Bitcoin

and the broader crypto industry represents is the ability for them to get new clients, new assets under management and new revenue. And if you can do those three things for Wall Street, they'll love you until they find, you know, a new mistress to go and find and hang out with. And so I think that's really what you're seeing right now is just like Bitcoin and crypto is this new shiny thing that showed up. They saw the launch of the Bitcoin ETFs. That was really the first big Wall Street product, grand slam

for the BlackRock's, the Fidelity's and, you know, VanEck's, etc., the incumbents. And now you're starting to see it trickle down. The bankers, they're making a killing. They're raising money for the Bitcoin treasury companies. They're raising money for Circle. They're taking companies public. They're doing M&A. They love this stuff. And so anytime you have a new industry with lots of activity, activity is how Wall Street makes money. If there's a lot of turnover in trading, if there's a lot of turnover in fundraising, if there's a lot of turnover in M&A, that is how Wall Street makes money. They need volume. They need volatility. And there's nothing that has more volume and volatility than Bitcoin and crypto and the surrounding businesses. And so I think

that's why, yeah, sure, Wall Street loves them. Love them until they don't. But right now, this industry is providing a lot of paychecks to a lot of people across wall street and so until that stops you're going to see you know every single wall street executive they go yeah i love bitcoin i love crypto i love this i love that uh but guess what they also love ai they also love you know all these other industries that are providing this as well it just happens to be that maybe we're the best at marketing what's going on because of the online kind of engagement of people in the bitcoin crypto industry and speaking of bitcoin uh the price is currently tracking with the global m2 money supply and you wrote in your newsletter there

will be more money printing a larger national debt and liquid assets are going to be much higher stocks will appreciate in price gold will appreciate in price and bitcoin will likely be the biggest winner out of every asset are we going to continue to see markets go higher in the coming months book it book it take a ticket to the moon that's where that's where all this is going right because if you think about what's happening here is uh we just went through the single greatest like true faith effort to cut government spending we will see in our lifetime we took the world's greatest entrepreneur who is famous for slashing costs creating efficiencies you know uh going in and right sizing shitty businesses just call them what they are and he was within 120 days

130 days i'm out of here that's crazy crazy now it's not his fault if you go and you look like i have a lot of friends who went and worked these organizations and stuff there's a lot of crazy stuff that was going on that will be stories told later on but one example is they would go in and they'd be like okay let's just say there's a department it has 2 000 people and they're like i think this department can run with 50 people we're not talking about like 2000 you know 1900 like 2050 they can't fire anybody so if you can't fire people then obviously you don't have the best people right because what ends up happening is people just they what do they can do to get the job then they can't leave it's kind of like people don't talk about it you ever watched uh i think

it's uh called super superman or something like that it's the uh documentary about the new york city teachers oh yeah yeah and the rubber rooms i have you can't fire a teacher in some of these jurisdictions. And so again, if you can't get rid of the people who are not good at their job and bringing people who are good at their job, what do you get? You naturally, you have a reversion to the mean. That's not good. That's not what we need. And so I think that that is a big part of the story as well, is like there were a lot of things that they should have done and they wanted to do, but they weren't allowed to do it. Now, for some reason, there's laws in place that didn't let them do it. And maybe some of those laws are there for good reason. Some of them aren't. But I

think that's really the they're going to be the story there so going to finance they're going to print money and they're going to print as much money as they possibly need it is a guarantee now we took our best shot i was excited i thought we had a shot we ain't got no shot it's over lynn alden says it best no stopping this train they're going to continue to print money national debt's going up which means asset prices are going up so so so this you know cutting spending balancing the budget it's kind of a fever dream neither the republicans nor the democrats can do it they can't do it even if they want to do it they can't do it it's over game over wave the white flag the national debt won the national debt's going to the sky which means get out of

cash because that's going to get debased and get into some sort of investment i don't care what investment but you got to get out of cash are you are you disappointed personally because i know you were big on balancing that budget. Well, yes, of course. I think that the budget should be balanced. Of course I'm disappointed, right? Like that was the best faith effort that we had to go and do it. And the fact that it's not going to happen, it's incredibly disappointing. It's depressing. It is sad. We got kids. I got friends that got kids. Guess who's going to bear the burden of all this stuff? Them. 30 years from now, hopefully I'm still here, but they're not going to be gone in 30 years or 40 years. This is a one-way train now. And so how many countries

used to be living large, in charge, greatest economy, strongest currency, et cetera, and they ain't anymore. You've been to Europe. You're from Europe. That place is a museum compared to America. We got innovation. We got flying cars. Literally, we now have air taxis. We got rockets, we got DNA sequencing, we got self-driving cars, we got guns that they all need. I mean, they're begging us to give them our weapons, right? All this stuff that we got going on here. We're the kings of the world. But you know how kingdoms fall? That currency. And guess what we're doing? We're just a bunch of humans on this planet who didn't learn from thousands of years a few minutes before us we're going and we're debasing our currency which

ultimately erodes away both the purchasing power of a large portion of the population it is now 62 percent of americans have uh stocks 62 great 38 don't on top of that if you go and you look guess who owns the stocks wealthy people well-educated people and disproportionately white people over anyone else. I don't care about all the race stuff. I'm just telling you what the data says. When you look at that, you say to yourself, okay, well, then how do we go when we get other people to have exposure to the American stock market? Because if they don't, 38% of Americans got no investments. They're getting their butts kicked financially because we're debasing the currency. And it's not at 2%, which is what they want to tell us. That's not the real number. It's really

over 5%, closer to 8%. So if you say to yourself, hold on a second here, this only ends one way which is unrest you think that there's no connection between the la riots that are going on right now and what's going on in terms of uh the economy stop stop it this is how you get volatility in a society it's happening across the world it's not a u.s centric thing it's happening all around the world but what you are doing is you're creating a bifurcated society how is it possible that some people right now are like i'm killing it i'm getting richer than i ever thought and at the same time you got other people in the same country sometimes in the same city maybe on the same block saying i can't get ahead i'm only falling further and further behind it's

true that's crazy and it all comes back to it's a financial education thing one group understands own financial assets the other group was told save and get to some sort of economic freedom well guess what only one of those groups is right and so if you continue to debase the currency you should expect to continue to see unrest and all this pent up anger and uh um frustration i'm not condoning it you want to drive around a uh a burning car on a motorcycle with a mexican flag hey man this is america i know exactly what's gonna happen right you ain't gonna be doing that very long but what i also understand is you can be empathetic to people's plight but also you can be critical of the way that they express it and that's the difficulty of a lot of this stuff it's

super complex yeah but i think when there's a lot of pent-up anger it kind of like boils over it's 100 but by the way look this sounds crazy right but again how many people online are able to bounce two ideas in their head to say, I understand why these people in their position, given the situation that they're in, why they feel the way they feel. Right. Think about. Is there any right way to go about it? I, I, one thing that Anthony always says, like at home, when we're talking about the news is you often say about someone that I'm surprised you agree with, you'll say they're right about what they're saying about the message, but they're going about communicating it wrong. Take what's going on in LA right now. Let me paint a picture

for you. You're a child. You were born here in the United States, or maybe you weren't born in the United States. So all kinds of complexity, right? But just use a simple example. Let's just say that you were not born in the United States, but you were brought here when you were very young. Your parents entered the country illegally. You never became a citizen. You have lived here for maybe you're 20 years old. You've lived here for 15 years of your life. All you know is growing up in America. You probably feel some sort of tension between whether you came from, let's say, Mexico. I'm Mexican. I'm proud of my Mexican heritage. That's where I was born. That's where my family's from, et cetera, but also I enjoy the benefits of America. But you don't have a piece of

paper that says you're an American citizen. There's a large group of people in this country who say you are here illegally and they're right. You are here illegally. Your parents broke the law and they came here. The person who grew up here though, even if they weren't born here, what do they know? All they know is the American experience, right? They feel like this is home. And so you have to be able to understand both sides of that and say they're both right so rather than go into the streets right and attack police officers and i mean some of the videos are insane but this happened in 2020 we've seen it happen listen we can see it happen over and over again every single time i see it it's insane i don't know if you saw the video of all the police cars underneath the

bridge and they were all stopped and they had been abandoned by the police because they were having rocks thrown at them that's crazy town stuff right but here's the thing is the actual solution to the problem is that america needs to figure out how do we get a more streamlined uh legal immigration process because there's a lot of people who they would like to come here and go through the vetting and do it legally and all this kind of stuff but if they're told hey you can't come for seven years, right? Well, guess what? There's a lot of guys who say, I ain't waiting seven years. I'm just going to go walk across the border. And so it comes back to this whole thing of like, by the way, that's illegal. That's breaking the law. You're taking a risk in doing

that. So if you go and you balance this out, you say to yourself, both things can be true, but the solution is not what the people who are going through the plight, they're not going to accomplish the solution they want by taking the methods that they are and so look at the response there's a lot of people across the country who are saying if you are burning cars if you are attacking police officer if you're doing all this stuff you now went from somebody who is trying to be a productive uh part of american society to now you are doing the things that american citizens don't want in their cities and so it's this very very difficult situation but i attribute it back to you have a bureaucratic government that has not been focused on one securing the border

nor creating legal immigration pass let me just tell you even if you're legally here through the immigration process the bureaucracy is insane and it takes forever and it is difficult and painful for the person trying to do the right thing 100 i can understand how it's kind of like you know it's this weird thing where um there's all these uh like uh studies or game theories or you know type things that happen and i forget one of them i read a long time ago i thought it was this fascinating thing of uh there's like a plane it crashes in the jungle uh at what point do you start eating the other humans right but the whole idea was like uh there's a bunch of decisions right at some point you say like hey we don't have access to food then there's like a uh moral

ethical and like a you know reality like who do you eat first it all plays into it especially right and everyone's like oh my god i could never do that and then you're like dude if you haven't eaten in 40 days and you're gonna die right i mean it gets kind of crazy and so like today's episode is brought to you by zappo bank this is where eligible members can unlock the power of bitcoin without selling it do you need cash fast with zappo bank's bitcoin backed loans you can borrow up to 20% of your Bitcoin's value in just a few minutes, and you can do so with low interest rates and zero fees. Here's the best part. You keep your Bitcoin, meaning you get to watch your holdings grow as the price of Bitcoin increases. Whether you're looking to buy a house, fund your

child's education, or seize an exciting investment opportunity, these loans give you the flexibility to access cash without selling your Bitcoin. Unlike traditional loans, Zappo Bank's Bitcoin-backed loans, they have no minimum repayments, no early repayment penalties, and the flexibility to settle your loan in USD or Bitcoin whenever it suits you. It's liquidity entirely on your terms. Zappo understands the unique needs of Bitcoin holders. That's why they developed a product designed specifically for you. With over a decade of experience in the Bitcoin space, Zappo Bank has been a trusted partner for those looking to make the most of their Bitcoin while keeping it safe. Your Bitcoin stays safe in your vault, untouched, never lent out,

and secured a global network of military-grade bunkers with cutting-edge security technology. Head to Zappobank.com forward slash Pomp to learn more. That's X-A-P-O-B-A-N-K dot com forward slash Pomp. Go check out Zappobank today at Zappobank.com slash Pomp. Today's episode is brought to you by Maple, the go-to place for on-chain asset management. There aren't many teams in crypto who manage real money the right way, but Maple does. Maple now manages over a billion dollars, combining serious finance experience with DeFi innovation.

I use Maple because they make it simple to earn real yield, whether that's allocating stable coins for over-collateralized lending to institutions, depositing Bitcoin to their institutional Bitcoin yield offering, or accessing their premium DeFi assets like Syrup USDC. If you're serious about putting capital to work, then go to maple.finance to learn more. Once again, that's maple.finance. Go check them out today. People are performing for social media, and it's actually one of the most dangerous parts of the system.

And not just that, like, I was having a conversation earlier with someone who was like, I can't believe that some of these people are doing this, knowing that they're sharing where they work, they're showing their faces, they're on camera. And it's very important. I mean, if you've taken one sociology class or read one sociology book, you know that like mob mentality, it dehumanizes you, and you kind of become part of this whole thing. you're not thinking about i am an individual with a job with whatever you're thinking i'm part of this big movement and i'm gonna do whatever it takes and i don't care you think about the consequences later which is why i think i'm scared of mobs in general but um but it does and you also kind of it dehumanizes the other party which is why you're seeing such violence with such little remorse or i don't know if you saw uh there's a youtuber who walked up on the las vegas strip and he shot another youtuber that he'd been beefing with online and by the way when i say youtuber i'm talking about i saw a video clip online the dude had 1500 views hey i'm not judging

but you killed somebody over 1500 view videos right and what happened was like the youtuber who got killed was like i'm in las vegas or something and the guy was like looking for like record like i'm looking for you you come to my town blah blah whatever but what does that have to do with any because he's performing for social media right like the whole thing was he they were like concocting this like uh uh beef with each other and it was all this performative thing guys getting thousand views on the video imagine killing somebody over that go to jail for the rest of your life so you then extrapolate that out and say if people are willing to do that of course they're willing to throw rocks of course they're willing to do this crazy stuff get the cool photo

holding the flag stand on top of the burning waymo or whatever right of course the whole generation that's growing up with that as part of it. But I do think that there is a solution. You have to have the iron fist of enforcing the laws with the empathy of providing solutions. And it is an incredibly difficult line to thread, but you have to be able to do both. Do we think we have leadership that can do that?

I don't think that any of the leaders involved in this stuff is trying to do both. i think that you have the left-leaning california leadership that literally would watch the city burn as long as they didn't offend anyone and they say we are going to be as empathetic as possible because that's how you get that in society can you imagine in new york city people doing that why doesn't it happen in new york oh well in 2020 in 2020 there's two specific incidents that i remember there was a maltoff cocktail thrown into a police car right and they were lawyers they were literally professionals mentality i'm telling you they ended up getting arrested they

got a lot of trouble the second one is i think i remember showing you there was a video i'll never ever ever forget this in union square on park avenue right at the intersection on the northeast corner oh my god i'll never forget this and we had protesters squared up yeah yeah with the police officers he showed me and i remember saying to myself you know what i got respect for those police officers they could have shot those people they could have beat them with their baton they could have done a bunch of stuff by the way i wouldn't necessarily agree with it but i'm just saying that within their training if you're getting beat and you think that you're actually in danger you got a lot of things that you can do and be covered with the letter of law these

cops didn't do that they kept their gun in their holster they kept a baton right there and they squared up too and they said we're gonna scrap right here on park avenue so it happens but i remember one or two weeks later there was this huge march from brooklyn and they went over the brooklyn bridge and they were trying to get to manhattan and the cops met them at the base of the brooklyn bridge and i said you ain't coming into manhattan and they stopped them there and they wouldn't let anyone get into Manhattan and so that goes back to it things can happen on a one-off basis there was looting there's all kinds of crazy stuff in New York but very quickly that stuff got shut down because it went to hey we got to have an iron fist on the crime and then

I don't know if there was ever empathy frankly right I think what you're seeing there was I think I think there was a lot of like protests and marches that kept going on I don't think those were shut down no no but that's not but that people aren't they're not burning stuff Yeah, but I'm saying the empathy was, like, there's not, you know. I meant more so, like, what are the changes that the people wanted, right? I don't know if that's ever happened. But the reason I explain it this way is, again, it goes back to economics, which people, they don't want to say this, but if people feel economic pain and they lose hope, they are much more likely to go into the streets. And into the streets can mean different things in different geographies.

But what we are watching right now happen in L.A. has way more to do with economics than anyone wants to admit. And so you have a bunch of people who feel like, hey, I'm just here trying to work. I'm just here trying to make a living for my family. Right. I don't want to be involved in some geopolitical thing. I don't want to be involved in some political thing. I'm just trying to go to do my job. but you have a government that is saying you broke the law both things can be true and so i just think that again it goes back to the point of when i see a lot of these stories i try to say to myself if i was in this person or this person or this person's spot how do i understand what they think how do i understand that perspective if you can do that going around a topic usually you can actually say to yourself most of the people involved here there is a degree of truth in what they're saying it's just that they're coming at it from different angles and so what i don't like is we basically have like a pissing contest between newsom and trump but which is

which happens every time well but again it goes back to i think newsom is just performing he's out here tweeting all kinds of crazy stuff whatever he's just looking for retweets guy wants to be the president that's fine go be the president uh we'll see if you can uh win um but i don't see a lot of him talking about stop looting stop attacking law enforcement officers all that kind of stuff so it goes back to this thing of leadership matters and what you condone implicitly or explicitly is ultimately what the people are going to do so what do you think is the solution here

to say hey we're going to uphold the law but here are some of the changes that we will make or what how do you well the first thing is uh you just have to have a zero tolerance policy if you attack a police officer you are going to be punished to the full extent of the law period like there's no ifs ands buts maybes this that like done then if you destroy other people's property whether it's the government other citizens private businesses any of that stuff we will punish you to the full extent of the law. Done. No ifs, ands, buts, anything. By the way, if you want to come out into the street and protest something, that's as American as it comes. You should be allowed to do that. And you

should make your voice heard. But there's a fine line between your protesting and free speech and exhibiting distaste or frustration with something and burning cars or breaking into people's private business or assaulting police officers. And so I think that's one big thing is, again, iron fist on enforcing the rules, but having empathy for humans. The second thing is that you need to go and look at this from a root cause standpoint. We need legal immigration that is efficient, that can successfully vet people to make sure they're not a threat, that can actually understand are these people going to be productive in our society or not? And most importantly, are they going to assimilate to becoming American? That is one of the best parts about America,

is that every other country in the world does not have the ability to make someone assimilate. But that is what made America work. That is why we have so many different cultures. If you move to Bulgaria, you could never be Bulgarian, Anthony. Oh, hell no. And they don't ask you to be Bulgarian.

Best thing, they don't ask you to be Bulgarian. What we ask of people is that we say, this is a melting pot of different cultures that all come here. The one thing that we ask you above everything else is for you to become an American. And if you become an American, It means that you believe in core, core values of America.

I just think like what you said earlier, society has been has bifurcated so much that I cannot see a world in which something truly brings us back together and makes us all feel proud to be American together. It's just so many people are now, you know, unfortunately, so far gone. The thing that does is usually some sort of horrific tragedy. And we thought COVID would do that. if you think about uh 9-11 i know but that patriotism skyrocketed but that was 2000 well we don't want to have horrific you know but i'm saying like we've gone so far i don't know if society even before 9-11 i think people are still very proud to be american i don't think it was that uh of course of course there's a polarization there's social media there's the

media there's all these things but i'm just saying like that is when patriotism skyrockets is like it's kind of like we can fight with each other but if somebody attacks us from outside like hey we're americans i and i do i do think that on a microcosm of a scale new york city is like the place where that happens like i've seen such acts of kindness to random humans like on the street here that i don't think i would necessarily if i was walking alone in atlanta uh and somebody saw me struggling with something i don't think they'd help look there's kind people everywhere there's assholes in it, right? New York has a magnifying glass on both because there's just 9 million people living in a city, right? So I think that it is, yes, we would like to think

because we live here that there's nicer people or whatever. I think that you're going to get the same amount of people pretty much everywhere. But with that said, I think another core component of this is when you become a citizen of the United States, which you did, they ask you- I went to a little flag ceremony. what do they ask you they ask you to pledge allegiance to america to the flag and to denounce allegiance to any other country to renounce but um yes but you don't have to do it in any sort of obviously official way it's just more of like a i promise it's a gentleman's agreement yeah yeah people are breaking the gentleman's agreement of course they have more allegiance to another

country than america yeah but which means ultimately which means but like also this country has not allowed them to become american is the point but here's but here's the whole thing is again it goes back to we have to create an efficient legal way for people to become immigrants now i know people who uh you know online we're talking about this saying oh look uh people who escaped the country are waving that country's flag blah blah whatever there's some of that going on for sure but one of the parts of this whole thing what is the professional planning? What is the professional coordination? What is the professional logistics that are going into that? That erupted way too fast. There is no way that you get a bunch of strangers

who can go out in such a coordinated effort in so many different locations. And somehow they all got rocks in their pocket. They all got masks. They all got where they get all the flags from, right? All that stuff. Again, I don't know how that works, but I just think that there's always layers to this stuff that we don't see on the surface. And so what you have to say to yourself is the only thing I know is that you can go and you can think from first principles. There's a lot of people who want to come to the United States of America. It's the greatest country in the world. And there's a line out the door. Let's make it good, easy, cheap, and fast for the good people to get in. What's good? Somebody smarter than me will figure out.

Are you a productive part of the citizens? Are you not going to be a threat to your fellow citizens? Whatever criteria, somebody else will figure that out. But the ones that we want here, let's go get them the people who are a threat i don't know if you've been paying attention to this fbi they've been arresting arresting a number of chinese citizens who have either shipped or brought pathogens with them into the united states interesting so this stuff's going on every single day and i think that if we can figure out a way to get the people we want here great people we don't want keep them out have a border iron fist on the rules empathy for humans super complex i'm glad i'm not the person who's got to figure it all out let's end with this um trump is supposed

to announce a trump savings account which is a program that would deposit a thousand dollars in investment accounts for newborn americans dell technologies pledged monday to provide the same amount for so-called trump accounts for new children of its employees the provision to create the accounts passed the house last month as part of the major tax cut bill that trump is pushing republicans to send to his desk before the 4th of july what do you think about that i love this so what it's it's a thousand dollars in stock so brad gersner who will never get enough credit for this but brad gersner is the founder of invest america and the whole idea is uh there's a lot of people who don't participate in the capitalist system so if the government can cede a thousand

dollars in an account and i think it goes and buys the s&p 500 and it just holds that i can't Or if you're 18 or 22 years old, if you let that compound for 20 years, let's call it. And it allows for additional private contributions of up to $5,000 per year. Yeah, so somebody can keep putting more money in this thing, but you get to have that compound over time. And so when you become 18, 20, 22, whatever the age is, you have benefited from the American economy, the American stock market. One, you probably don't hate America. Two, you probably don't hate capitalism. But more importantly, even if you hate America and you hate capitalism, at least you've got a bucket of cash now, an economic value that you can go and get a head start in life.

That's the whole idea. It's a fantastic idea. Now, do I like the fact that we need the government to do this because the system's broken? They're debasing the currency. People are. No, of course not. Do I want them to print money to do this? No, of course not.

But it's better a solution than not having it at all. And so I think that Brad Gershwin's done a fantastic job. I think there's a number of other people who are all involved in this. Vlad Tenev, fellow Bulgarian who runs Robinhood. He is, I think, going to be one of the platforms where people can hold the accounts. See, I like in this public-private partnership thing where, yes, okay, $1,000 the government puts in. But then companies can use it as perks for their employees to say, hey, we'll keep investing in this for you and your kids. And I like that.

Yeah, it's great. Well, because Michael Dell's smart. He understands that that's a great perk for his employees. There's a lot of people who aren't going to see that as being super smart. But whatever. Let's see what happens. But I love the idea. I hope that it gets passed.

It's no secret. I would love for every single kid in America to have exposure to the U.S. stock market. I remember, you know what I remember being in high school? And like my parents weren't investing anything for me at that time. but um there were a lot of kids who like for their 15th birthday 16th birthday whatever would get like a stock certificate that their grandparents bought them apple stock and i was like that's kind of cool that's a cool gift but i knew one i guess i don't know i mean like they bought stock in that before the kid yeah but but like that's that's awesome that that kid in 2003

re-owns Apple stock, you know? Pretty good. Anyway. Well, hopefully they held. Hopefully. I mean, it's gone up a lot. But now Tim Cook is there. You know what I saw someone said?

I don't know if you saw the recent updates. People, very controversial. They're saying Steve Jobs rolling over in his grave. Why? Design don't look as hot, you know? It's got the cool factor. We don't know what Steve Jobs thinks. So somebody said, Tim ain't cooking.

On that note. That's it for today, guys. We'll see you guys next week.