The Trillionaire Mindset - 85: How Debt Could Collapse the Economy

Episode Date: May 12, 2023

Become an exclusive member to get ad-free and bonus episodes at https://tmgstudios.tv It has been corrected time and time again…but what if the debt ceiling WASN’T raised? What would happen? This... week the Trill boys discover the nuances of our complex debt structure, how we might circumvent a disaster, and who is responsible for holding it all up. What is UP with all these old folks in Congress? Plus, a return to Theranos and Elizabeth Holmes’ “rebranding” by our pals at the New York Times. Get the only digital wallets with real cash access, activated by MoneyGram. Learn more at https://moneygram.com/stellarwallets Check out our channel page on Apple Podcasts, go to: https://apple.co/trillionaire SUBSCRIBE to Trillionaire Mindset at https://www.youtube.com/trillionairemindset Want to subscribe to our newsletter? http://bit.ly/3k4Nfar Trillionaire Highlights Channel: https://www.youtube.com/TrillionaireMindsetHighlights Trillionaire IG: https://www.instagram.com/trillionairepod Trillionaire Twitter: https://twitter.com/trillionairepod TMG Studios YouTube: https://www.youtube.com/tinymeatgang BEN https://www.instagram.com/bencahn/ https://twitter.com/Buncahn EMIL https://www.instagram.com/emilderosa/ https://twitter.com/emilderosa *DISCLOSURE: THE OPINIONS EXPRESSED IN THIS VIDEO ARE SOLELY THOSE OF THE PARTICIPANTS INVOLVED. THESE OPINIONS DO NOT REFLECT THE OPINIONS OF ANYONE ELSE. THIS IS NOT INVESTMENT ADVICE. THE VIEWER OF THE VIDEO IS RESPONSIBLE FOR CONSIDERING ANY INFORMATION CAREFULLY AND MAKING THEIR OWN DECISIONS TO BUY OR SELL OR HOLD ANY INVESTMENT. SOME OF THE CONTENT OF THIS VIDEO IS CONSIDERED TO BE SATIRE AND MAY NOT BE CONSIDERED FACTUAL AND SHOULD BE TAKEN IN SUCH LIGHT. THE COMMENTS MADE IN THIS VIDEO ARE FOR ENTERTAINMENT PURPOSES ONLY AND ARE NOT MEANT TO BE TAKEN LITERALLY.* Chapters: 0:00 This Week! 0:56 Book Worms 2:14 Personal Development 3:32 Disclaimer and Housekeeping! 5:38 Trill Awards! 7:10 Dianne Feinstein Returns 9:20 Tucker Carlson’s New Show 10:57 Thanks to Money-gram! 11:45 Google I/O’s AI 13:26 US Debt Ceiling Stand-off 16:12 Will We Default? 18:00 Janet Yellen & Extraordinary Measures 21:54 14th Amendment Loophole? 22:50 Ben’s Debt Take 24:13 Yellen Gets The Act Together 27:28 Pressure on the GOP 28:16 RFK Jr 30:41 Election Twister 32:27 The RedHead Kennedy 35:10 Berkshire Hathaway Meeting 38:37 Acquiring and Investing Strategy 42:06 Warren Buffet on AI 43:22 Charlie Munger’s OLD 43:38 Ben’s Big Breakfast 44:16 What to do with Berkshire Cash? 45:16 Elizabeth Holmes New Life 47:18 Holmes Demeanor 51:18 Liz’s Fake It Til You Make It 54:32 Elizabeth “Dazzled” 56:58 Mr. Evans “Jobs” 59:02 Good Bedside Manner 59:32 Emil’s FAVORITE Part 1:02:55 Balto the Dog… 1:04:25 Wrapping up

Transcript
Discussion (0)
Starting point is 00:00:00 This week gone trillionaire mindset, we're talking about the debt ceiling, whether or not we'll raise it or we'll send the economy into a tailspin. That's right. Plus, the birchshire had to weigh invested annual investor meeting where old farts, Charlie Munger and Warren Buffett talk about how you're never gonna be as rich as they are. And we're doing a deep dive into the New York Times's rehabilitation of Elizabeth Holmes. Does it work? We'll find out. Also, Diane Feinstein. Welcome back. Does it work? We'll find out also Diane finestein welcome back Well back to the beat man, Kramer when I get done with you They told me to help you, though. Be quick, don't do this. Be quick, don't do this! How's yours? Good. I feel better already. Yeah.
Starting point is 00:01:12 What are you reading? Well, it's chapter three called Feeling Good. Of what book? Oh, this is personal development for dummies. Hmm. I'm, of course, reading the Bible. Oh, the Christian community Bible. Do you have a favorite passage? I actually, I was just reading this in the book of Job. Uh-huh. And I, I would like to read it for you, for the audience, if, um, if I may. This is Job 1, verse 6.
Starting point is 00:01:42 One of, one day the sons of God came to present themselves before Yahweh and Satan came with them. That motherfucker. Yahweh asked Satan, where have you been? Satan answered, going up and down the earth, roaming about. He's always doing that shit. He's always doing that shit. Yahweh asked again, have you noticed my servant job? No one on earth is as blameless and upright as he,
Starting point is 00:02:05 a man who fears God and avoids evil. Wow, that really hits him. I've been reading this about cooling yourself off. Anger management has become such a buzzword recently that there's even a Hollywood movie about... There's a typo here. There's a typo in here. And you know what? I'm not even angry about it.
Starting point is 00:02:28 That's how good this book's doing. We haven't actually seen it as we're too busy helping people to not be angry. That's all. Who wrote this? The copy in this is horrible. Let's say that you are coming to a hypnotherapist for anger management treatment. Most hypnotherapist who gives a shit See, I'm already pissed. By the way, I know it's Job. You absolute fucking psychos
Starting point is 00:02:51 I know you're shitting your pants out there a bunch of people just deleted shit But it's spelled job, so I don't know what you want to do. Take it up with God. Okay God. Okay. Man, it is really funny that they were just hanging out with Satan and God was like, what have you been doing? What have you been doing, Satan? God is going up and down the earth. I think of Beetlejuice from Howard Stern.
Starting point is 00:03:16 I was just going up and down the earth. Do you think they're like, oh fuck, Satan's coming. Be cool. Hey guys, who is that? Shit, it's Satan. Yeah, he probably sucked, that's why they made this guy. I fucking hate this guy. Yeah, Jesus Christ.
Starting point is 00:03:32 As per usual, check the disclaimer in the description box so that you cannot sue us. Also, I guess thanks to everybody for joining us on the live show last week. It was real fun and if you missed it too fucking bad. No, it's actually not too bad because it's up online and you can still watch it. Yeah, so it's your lucky day, pal. Go check it out.
Starting point is 00:03:55 Yeah, so for those of you who still insist on asking, where is it? Just look around. Go to youtube.com. I just totally reminds that and hit the live tab and you can watch them all there You'll see it. There's all kinds of funny stuff. We're doing. Yeah freaky shit that we're into I mean we that's what we get real freaky man some might some are saying that that was one of our best lives yet I Do feel like they say that every time but maybe we just get better and better maybe that's probably the case
Starting point is 00:04:21 Maybe that's probably the case Man, we gotta we gotta open up with some real awesome news. We have some huge Trillionaire mindset, a medal of valor. Psst. A medal of valor. I watched Going Clear last night. What's that? The Scientology documentary.
Starting point is 00:04:39 Did you really? And they awarded Tom Cruise the, they made up an award for him called the Medal of Valor. The freedom, I think it was the freedom medal of valor. And man, when he accepted, you just see it in his eyes, he believes it. I just realized I'm wearing a shirt that I must have had in Greece and my mommy washed it for me.
Starting point is 00:05:01 It smells like, region. It smells like my mom's house in Greece. Oh man, you can't ever wash it. If region smells like my mom's house in Greece. Oh, man. Yeah, you can't If you if you're noticing my calm demeanor this episode, it's because I'm thinking of mommy And if you're noticing mine, it's because I done quitted coffee Yep, just tea just black tea for this boy. This young man Anyway, so we got to hand out these awards. First, we want to give a huge congratulations
Starting point is 00:05:26 to Mark Zuckercorn. He put his ass in the guy's face and what a mental for it. It's doing pretty sick playing jujitsu in this Porsche muck. I mean, you're the guy. Thank God, his belt is obscuring his face. A lot. They aren't. They haven't really released this, but I have heard that that is a meta employee. it does feel a little bit uh... that he's got is that and yeah you can see look at the face on Mark Zuckercorn. He is really um also he is packing heat he's got a caboose. Oh yeah dude I believe the kids are saying he's caked up. Are they really? I mean there is photographic evidence of it so look no further, but man, that's got a suck to get your ass whipped by Mark Zuckerberg.
Starting point is 00:06:10 Gally. I'd sue him after. Yeah. You're honored. He went way too hard. For the audio listener, it is a photo of Mark Zuckerberg pinning a guy. It looks like the bully. It looks like the nerd fighting back looks like the nerd fighting back,
Starting point is 00:06:25 the fighting the bully back finally. And the bully is surprised by the nerds kind of like freak monkey strength. You know, all that pent up anger from being bullied so much. He just dropped his books. He drops his books, he's got nuts. Yeah, and he does the one thing that he knows how to do because his brothers always do it to him,
Starting point is 00:06:43 which is pin him down and put your ass in his face So we want to award him the medal the medal of Valor the medal of Valor Valor did we say Valor? That's what you said. I thought it was honor. Oh, no, okay, who knows we will have to run the tape back We're gonna have to confer with our team and yeah, but the the other is getting a medal. Yeah, he is getting a medal Check it. It'll be in the mail. And yeah, Diane Feinstein, we also... This one, I don't know. We gotta give her a...
Starting point is 00:07:14 I don't feel good about this one. Oh man, oh, it's a shame that she's not at the top of the stairs in the background there. Ben, why? What is... You have such a... I mean, look at this woman. If anything, I feel bad for her. I don't want to push down. Why are we doing this to her? It's not us doing it. She's doing it to us. You're not letting that woman gas let you.
Starting point is 00:07:38 And her congressional leads. How does she not have a gray hair on her head? 89 years old. How does she not have a gray hair on her head? 89 years old. Oh, hair dye? D-Y-E. Oh, okay, got it, got it. Yeah, so just incredibly brave of this long time California Democrat Senator to selflessly continue to serve, even in her some might say, crypt keeper like decrepit old state, it is very brave of her to continue to serve the government.
Starting point is 00:08:15 No doubt to the best of her abilities with all of her cognition intact. Thank you. Kind of brave. I wouldn't be going to the Congress. No, it's very brave. I'd say I'm staying here with the milk and cookies. Yeah, look at her. She's got one eye open in this picture. Oh boy. I saw a great thing. I mean, if you wouldn't we don't allow elderly people to I mean, you wouldn't hire her to run a fucking cash register to McDonald's.
Starting point is 00:08:48 I would let her run a cash register. I sure as hell wouldn't. Yeah, it is tough. We got all these, uh, we're all, people are like, they protest in front of Congress, like, we want to be able to retire and stuff. And you have just like the oldest motherfuckers in the world like retire. Yeah. God. What is that? retire and stuff and you have just like the oldest mother fuckers in the world like retire What is that I remember when they invented retiring I
Starting point is 00:09:13 Found it against it. She probably fucking did Anyway, we wish her all the best All the next metal goes to Tucker Carlson All of these people are huge friends of the show. Tucker actually called us when he left Fox News and he was the first one to announce. He told us first, what do you think? Yeah, he did and we had to keep it secret. He's taking a show off Fox. He's going to fucking Twitter.
Starting point is 00:09:37 The last bastion of free speech. Yeah, yeah. Wait, there's a 787, oh yeah, the defamation lawsuit with Dominion. Oh man, he's just, he's a real winner and we love him. Did that video, it's probably got 20 million views at this point. I think the impressions on it,
Starting point is 00:09:58 which is, I don't know if it's different from... Insane video, where it's just like, nowadays, if you say gay on cable TV, they'll cancel you. Yeah. 25.3 million views. One, it's, see this is confusing. Then 121.6 million views. That just must be how many people use all the tweets. People will see the tweet. And then 25 million people watch the video. Yeah. Yeah. Gully. Well, this should be interesting. Did you see Fox News numbers are like the ratings
Starting point is 00:10:22 are tanking? What, since he left? Oh no, bummer. I hope they don't have to I don't know if I can go out of business. Who's the last person to get a congressional medal of honor from us? That's it. That's it. So that was the first round of metal. We hope to give many more for they are costing us a fortune though. We're probably going to use because they're costing us a fortune though. We're probably gonna use Because they're solid gold. Yeah, we're gonna have to like sell the um we might be going gold played it after this Yeah, oh, no, we're gonna have to sell the copper put piping in this in this building to pay for the gold pay for that Hey guys, we want to take a quick break to thank another sponsor of today's episode money gram
Starting point is 00:11:01 We live in a world that's more digital than ever, with nearly every want or need just a tap away. And so many of our favorite digital services seamlessly meet the physical world when they're delivered to your front door. But until now, that hasn't been true for crypto. Digital currencies have been tied up online with no easy way to bring them into the real world.
Starting point is 00:11:22 That's why we're so excited to share that you can now cash in and out of select digital wallets at participating Money-gram locations without a bank credit card or debit card. It's the best thing to happen to bread since slicing it. Get the only digital wallets with real cash access Activated by money-gram learn more at moneygram.com slash stellar wallets What's the other thing? We want to do a quick some quick Google I.O. coverage Learn more at monogram.com slash stellar wallets. What's the other one? We wanted to do a quick, some quick Google I.O coverage. So Google I.O is the annual conference that Google puts on. It's similar to Tesla's investor day.
Starting point is 00:11:57 And it's just their annual thing with the Apple convention. Yeah, the Apple thing. And we got this handy video that just... Yeah, they can explain it way we got this handy video that just they can explain it way better than it. It's a quick summary of everything. Let's just get right into it. AI, AI, AI, AI, Generative AI, Generative AI,
Starting point is 00:12:14 AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI, AI. Nice. So there it is. Yeah. That's that's Google I. Oh, yeah. Pretty much everything that you need. I know the I. O stands for. Uh-huh. What is the same for? I'm pretty sure it's ones and zeros from. Oh, yeah, yeah. Like on and off. I thought I was going to guess on and off switch, like on a computer. The old school just I. Oh, I think you're right though. I mean that also works. I kept thinking about that old Nelly song. E.I. Mama
Starting point is 00:12:56 E.I. E.I. E.I. This is I. Oh, yeah. But then he was saying A. I. Oh, yeah. Whoa, your lip just trembled there Whenever I think about Nelly I get to trembling. Yeah, I hope he's doing well. Do you hope he does something to earn a trillion Hermite set congressional metal of Valor freedom Fuck It's losing its value immediately because we can't even remember the name of it. I can't They're kind of worthless. They know they're worthless. They are worthless. Speaking of worthless, how about that debt ceiling, man?
Starting point is 00:13:28 Yeah, what do we really, what do we really want to talk about? Yeah, we're going to get into that debt ceiling. What's the biggest story right now? The friggin' debt ceiling. It would have to be the debt ceiling. I tell you what, I don't even want to talk about it because it seems like it's always a story until it's not, they always work it out.
Starting point is 00:13:44 But the problem is that every time it feels worse and worse, but there's always the standoff about the debt ceiling. And if we do default on our debt, there are dire consequences. Even if we come close, because if we come close, we could get downgraded again. Right. I think in 2011, yeah, moodies. Yeah, we got downgraded again. Right, I think in 2011. Yeah, moodies. Yeah, we got downgraded. Pretty moody of them, if you ask me. For just the little, just, for just coming close moodies.
Starting point is 00:14:12 Yeah. Down. Yeah, so for those of you who don't know, the debt ceiling is a very silly, made up thing that signifies the maximum amount we can borrow, right? The United States government spends more than they earn from taxes. Very responsible. Yes. So you have to, well, it's not irresponsible. It's just, that's the way. But it's stupid to put a cap on that then. It is stupid. And for a very, it first happened in 1917 during World War I, so we could spend more money than we were earning.
Starting point is 00:14:54 And pretty much forever it was like a, they would joke. It's like a tradition. We're going to raise the debt limit. Like it's this stupid made up thing. But recently it has become a political tool for when an opposition party wants the Democrats of the Senate Republicans do it. Republicans are doing it right now. It's become a tool. We have all these demands. Otherwise, we will throw the economy into a tailspin and fucking wreck everyone's shit. Yeah, that would wreck their own demands too.
Starting point is 00:15:29 Completely, yeah. And just to be clear, so what's happening is Kevin McCarthy and House Republicans are holding up negotiations to raise the debt limit. And so they want to, they're saying we have to come up with a new budget that has a bunch of their demands in it, including a bunch of social spending cuts. They want like, it's always like work requirements for welfare, recipients and stuff. All things that Biden has said, he's holding firm on. He is not a bunch. All things that Biden has said he's he's holding firm on he is most I think they want to expand
Starting point is 00:16:08 fossil fuel production um And if anyone watched the Trump What was it a town hall on CNN last night? He said did you see he was like he thinks that McCarthy should call his bluff and push push He said just let him default, which is wild. Okay, because I don't know if people really know what's gonna happen. So the estimate GDP would drop 4%.
Starting point is 00:16:35 Even if there's just a brief default, you're talking about two million jobs going away. Yeah. If it's more serious, over 7 million jobs, the estimate. Jesus. Go on. Yeah. Well, they also don't really, it's, and these are all estimates because they have admittedly, all the experts say we don't really know what would happen because it's never happened. Right. But I mean, if we don't have the money to pay for these things, then you know, you have government programs that millions of people rely on. Right. Are not going to be funded. Okay,
Starting point is 00:17:03 social security, Medicare and Medicaid, veterans benefits, snap, tarry pay, snap benefits, yeah, federal salaries. Everything. Yeah. And not to mention the reverberating effects that would be felt around the world when the world's reserve currency suddenly plummets in value. Right. So, you know, not a whole lot on the line if you really think about it. Well, that's what's crazy to me. So they were talking about how, so it was, what's the day, Thursday? It was Tuesday, or no, yesterday or Tuesday.
Starting point is 00:17:37 Yes, I can't remember. Tuesday or Wednesday, Biden met with the four leaders in Congress. It was Chuck Schumer, Mitch McConnell, Hakeem Jeffries and Kevin Carthy. And they talked about how they hadn't met to discuss this since February. Awesome.
Starting point is 00:17:57 And it's like, well, what the fuck are you doing? Well, because we hit the limit on January 19th. Right. We actually hit the limit. And the Treasury Department has been deploying what it calls extraordinary measures, which are basically accounting tools and tricks that curb certain government investments and prioritize things so that bills can continue to be paid. But Janie Yellen, the Secretary of the Treasury, has said that those extraordinary measures are set to kind of run out and expire by June.
Starting point is 00:18:29 June 1st. June 1st. Yeah. He said, so Biden said there was, so out of the five of them, there was three people, three out of the five said, okay, look, defaulting is off the table. It's not an option. And it's like, okay, who were the two? Yeah, I kind of have a feeling it was
Starting point is 00:18:48 Get McCarthy and Mitch McConnell. Yeah, if I had to guess, it probably the those two. Also, quick being such a bitch and just name him. If I was the president, I'd be like, yeah, these motherfuckers said they're gonna ruin our lives. Yeah, no kidding, that is kind of weird. Maybe it's a power move to just kind of be like, yeah, you guys figure out who it might
Starting point is 00:19:05 be. But it's not at all. Like if Trump was the president, he would fully come out and be like, true. You know who's trying to ruin? Yeah. Which is the move. You should do that. You should be like this.
Starting point is 00:19:16 You should name the people who are potentially going to cause you a lot of harm. Also just to really quick piggyback off of what we were saying about what could happen. Janet Yellen herself in January wrote to Congress and said, quote, failure to meet the government's obligations would cause irreparable harm to the US economy, the livelihoods of all Americans and global financial stability. Yeah, they asked their, so they're talking about,
Starting point is 00:19:42 you know, what's gonna happen, what are the consequences of everything that she was basically just like, I, it's not even worth discussing. Like, it would be so bad. Yeah. I don't even want to talk about what's gonna, like, they just need to fix it. Yeah.
Starting point is 00:19:59 And, cause what happened to like Argentina, Greece, sorry. Cut that. When they couldn't pay their debts, you know, things. And so if you had to guess, do you know what of the national debt is without looking? Because I have it written there. Yeah, I know. I was going to have you guess.
Starting point is 00:20:15 It's like 31.5 trillion. It is 31 trillion. The cap is set at 31.381 trillion. I remember back in the day when it was like 12 trillion. Boy, those were the days. Yeah, where the Clinton administration, when it was a surplus, and we had extra money, wasn't it a surplus back then?
Starting point is 00:20:35 It was a budget surplus. Yeah, we didn't spend more than we, wait, you think Clinton fixed it, and then we just, Yeah, I thought that we didn't have a national debt. Like, for like the year, I think there was a budget surplus. Got it. Okay. Well, I was wrong. Yeah, so I mean, now they're weighing all the options.
Starting point is 00:20:55 There aren't great options. You know, they can do like extraordinary measures and start trying to figure out who can get paid Bond holders would be for right treasury Federal reserve could come in and buy some of those and take those over. I mean there are Right, they could find some short-term short-term solution to extend the limit so they can negotiate further The trillion dollar coin which we probably won't go into right now, if you want, I think it's our
Starting point is 00:21:28 second episode. We discussed the trillion dollar coin. It's funny watching journalists and stuff ask him about the trillion dollar coin. He's basically said it's off the table. But that would essentially, it's a loophole, meaning that we would mint a trillion dollar platinum coin and the Fed would have to accept it and we would basically do away with the debt limit. Right. And then there's another one where, so they're getting creative, there's a thing in the 14th amendment that Biden is actually saying he's thinking about invoking where it basically states that the valid the validity of US debt shall not be questioned. So it basically invoking the constitution and saying that, you know, America will not default in its debt and the debt limit does not have to be. But didn't he admittedly say that that would just be kicking the can down the road?
Starting point is 00:22:22 Because it likely would end up failing. He said not that it would fail, he said that it would probably be litigated, so it probably wouldn't be a solution right now because there's gonna be all kinds of legal challenges to it. But that's where I get fucking frustrated. It's like, okay, so why weren't you talking about this in February, March, April, you dumb mother.
Starting point is 00:22:41 I get all the things to do, you get ice cream to eat. You know? Yeah. And so now everyone's wondering if America is gonna fucking blink. I can tell you right now what's gonna happen. I feel like I can tell you what's gonna happen to.
Starting point is 00:22:55 Fucking nothing. We are going, it's gonna come down to the wire or at least close to the wire and it will be raised or suspended because it has always been. The track record is 100% of the time. It always gets raised or suspended. Yeah, but in fact, 78 times since 1960, was it raised and suspended seven times since 2013? Yeah, but see, I don't think that's the... I think you're right that it will be raised, but I think it's
Starting point is 00:23:26 the terms that it gets raised on, right? So that's the problem is that Biden is probably going to cave because the Republicans are nuts and they go, I don't give a fuck. The only thing I saw him caving on was COVID, COVID, budgeting for COVID, fighting COVID or whatever. There's like 18 billion dollars or something, ear marks for COVID prevention and stuff. But what is it today, March 11th or something?
Starting point is 00:23:54 Yeah, it's May. There's time for him to, you were wrong by two months. Did I say March? Yeah, you said March. Holy fuck. Yeah, now who needs a fucking brain scan? Well, you know what we were talking about February march. Oh, yeah, sure.
Starting point is 00:24:08 Sure. Now cut that out though. Janet, some are some people are saying including Janet Yellen that we should get rid of the debt limit entirely in part because the argument is that it is inherently harmful to the US economy because it functions primarily to restrict borrowing that finances previous commitments. So yeah, why would you sign up to say, hey, we're going to pay for $1 trillion worth of stuff, but the debt limit is at $1.8. Like, come on. Right. And it's important to note that raising the debt limit does not like authorize new spending. Sure. Itvers existing commitments. I guess she's also calling CEOs and stuff
Starting point is 00:24:49 to tell them about the absolute hellscape that will which is weird. What is that to? I actually don't think it's weird because who really calls the shots? Who's doing all the lobbying? CEO. CEO's businesses.
Starting point is 00:25:05 So she's basically trying to be like, yo, call your fucking boys. Yeah. Tell them, tell them to get their fucking act together. Yeah. That's why I think McCarthy's gonna cave. I think the Republicans have a lot more to lose.
Starting point is 00:25:19 You don't wanna get blamed for being the ones, not only are you the ones. I still think they blame Joe Biden. Yeah, but how they're they're calling for because their whole shit is acting in bad faith, right? Like they're talking about how worried about the debt they are. I've never heard them bring up the Trump tax cuts from what was it 2018, which depending on which study you go by raised the debt by like two to four trillion dollars, but it doesn't fucking matter, right?
Starting point is 00:25:49 85% of those tax cuts went to the wealthy. So it's like, whatever. Okay, but there's, so it's all, it's like, it's like we need to get our spending in line, meaning we need to cut social security, we need to cut Medicare and Medicaid, we need to make sure, you know, if people are receiving welfare that we harass them
Starting point is 00:26:07 habitually, you know, it's never like, oh my God, we need to fucking roll back all of these Trump tax cuts. We need to make sure we're... Military spending. Yeah, it's never that. Yeah, that's why I think that it's gonna bite them in the ass. If they not only were to tank the economy,
Starting point is 00:26:24 but tank it because they wanted to gut social programs. Like how fucking soulless and spineless can you be? It doesn't matter though. It's always like, I don't know. No one's talking about that. They're just like, they're protecting us from the woke liberal mob. Thank God. Someone's got's got to. Someone's got to protect you. They're doing God's work. The Woke Liberal Mob. Man, I mean, think about it. If nobody stopped Bud Light from making fucking gay beer.
Starting point is 00:26:53 If it was up to Joe Biden, every goddamn Bud Light can would have a rainbow flag on it. Oh yeah, and your children would be drinking it and immediately wanting to go into interior design. They'd be serving it at schools nationwide. You'd be hiding booze from your kids for a whole nother reason. Yeah. Yeah, truly. Honey, lock the liquor cabinet.
Starting point is 00:27:18 It might make our kids gay. Ah, shit. I so I think that they're gonna get I think that the Republicans are going to start to get pressure from from like the guy was saying on the radio on the drive over here. They're gonna get pressure from donors and all these people who have. I think that's don't want the fucking economy to collapse. I think that's the real. What the fucking economy did collapse? I think that's the real, right. That's the real hope is that it'll come from donors and lobbyists rather than, I can't imagine. That's who props the people up. Right, right, exactly. I think Janet Yellen is making the prudent political move, whereas I don't know what the
Starting point is 00:28:01 fuck Joe Biden's doing. Dude, get out there. Be like Mitch McConnell and Kevin McCarthy are like default is an absolute option. I'm just so tired of this. I'm tired of these people running the country. Do you like a, I'm seeing a lot more like, let me get it. RFK junior, I was reading more about him. Sure. And his, his thing, and there was another big politician are talking ahead and saying the same thing that the answer is to stop the
Starting point is 00:28:36 imperial project. And like, we have how many military bases around the world, like 600, I think 800 somewhere between 700 and 800. Maybe we ought to do some about that. So do I like what like send the boys home. Yeah, but what was your question? Do I do you do you like his platform about that? Cause I haven't read or anything about F Kennedy Jr. Yeah, yeah. I'm sure that there's a problem with him that you know about that I don't because you are way more politically involved than I am. But. No, I'll tell you, it's like, it feels like he's a.
Starting point is 00:29:10 That's? No, I don't know. Every time I listen to him, I'm like, oh, he's kind of speaking my language. Oh, sure, that's great. Yeah, and he's invoking like all the shit about like, you know, Did he say that the same?
Starting point is 00:29:24 They got my uncle and they, also the funniest tweet I've seen about it was, he's invoking like all the shit about like you know did he say that the same thing i don't know also the funniest read i've seen about it was the cia now has an opportunity to do the absolute funniest thing ever yeah to kill him but after after naming the cia in blaming them for for everything including and especially his uncle's assassination if you don't know who his uncle is, it's John F. Kennedy. Yeah, no, I don't know.
Starting point is 00:29:48 I've been watching some of this stuff. I, people say he has weird stuff about vaccines, but that's the thing. I looked into it a little bit. It seems more like he's, again, I haven't looked into it enough to give him a, you know, like a proof all, but it seemed more like he was talking about big
Starting point is 00:30:05 pharma and stuff which is like that's not that crazy to not be super stoked about Big Pharma. But yeah all this stuff he's talking about with Empire and the intelligence community and I'm like dude they're gonna get your ass. Yeah really are. But like well the problem though is that someone should be talking about it. Yeah. I don't know. Got to see a little bit more from him, but every time it's like,
Starting point is 00:30:33 I'm like, God, damn. I can't believe he's saying that. Yeah. It's very refreshing. But the problem is that we still have Joe Biden as the democratic nominee. So here's what I think. I think that we ought to have a, we ought to put on a fundraiser for Joe Biden and invite him and some other prominent Democratic
Starting point is 00:30:54 figures. I don't know. Maybe Diane Fountainstein and haven't played a game of Twister. You know, like is it like a sexy thing? No, no. it's like a cuz you know you imagine old people playing Twister bad I mean it's dangerous. That'd be so dangerous. It would be dangerous. You slip and you fall the wrong way on your head It's game over I'm not going along with this. No, I mean I'm just saying it's just a it's a it's a game. I also don't know much about RFK juniors career, you know, I don't care. I do. I mean, that's a thing like at this point. You know, when the thing with Bernie was that people could kind of look back at his record and be like, oh,
Starting point is 00:31:39 shit, he's been saying the same thing for fucking decades. He's been saying the same thing for fucking decades. He's been on the front lines of all the stuff. He's been standing with workers, whatever. Should we look real fast? No. It's not worth, we don't have to do a whole, okay. Or if, I mean, even I wouldn't be able to tell just from his Wikipedia page.
Starting point is 00:32:00 But even that's the thing, you know, yeah, I don't know. If what the Kennedy Brothers, they had a whole, kind of a weird history too. I mean, they both fucking worked on the, they were legislative aides for, uh, fucking Joe McCarthy, not a great start to your political career. But then they, you know, grew a lot. I'd like to see what his backgrounds like before what's with the redhead Kennedy How do you get mother fuckers? How is he? Would he joke that mother fucker Joe Kennedy? Yeah, how is he related to RFK cousins?
Starting point is 00:32:37 No, that's gotta be his Well, I guess wait like maybe a second cousin or something. Yeah Well, I guess like maybe a second cousin or something. Yeah. Oh my God. If I see that motherfucker Joe Kennedy out. Why do you not like about him? Um. Is it red hair?
Starting point is 00:32:52 He. Oh man. Yeah. Who did he challenge in 2020? He fucking left. He looks like a royalty. Yeah. He left who did he challenge? Yeah, he ran. He ran for Congress. Ed Markey. Yes, he tried to fucking beat Ed Markey. Oh my
Starting point is 00:33:15 God. And he left. He left his position and then lost it. Oh my God. Wait, I don't understand. Okay, so in 2020, he wanted to challenge Ed Markey. Okay, and he was maybe a Was he a congressperson? I don't know sorry this was like four years ago. Yeah But yeah, he's just like a smug little I mean, why would you challenge someone who's got a good record and is like a progressive? Oh that oh, okay, so Ed Markey was a right and he is like a progressive? Oh, that, oh, okay. So Ed Markey was a,
Starting point is 00:33:47 right, and he's like, I'm a Kennedy, I deserve it. Yeah. What is he doing now, consulting? Fucking probably. When you lose, well, he's a candidate. Stanford ass, Harvard ass, motherfucker. Yeah. Fuck you.
Starting point is 00:34:02 He's part of the United States special envoy for Northern Ireland. I'm good. I guess Biden hooked him up with a little. Yeah. Remember, oh, he's a member of the, he was. Oh, he was. So he left. He left to run for, run for Senate.
Starting point is 00:34:20 And then he, okay. All right. Well, good for him. We wish him good luck in all the candidates. May the curse not follow you. Well, that's another thing. People keep bringing up. So there are a bunch of candidates
Starting point is 00:34:33 who are not supporting RFK. They said they don't support his run or whatever. And they keep bringing that up. They're like, hmm, curious that your own family hates your guts, Robert. Care to comment and he's just like, I don't agree on everything. Okay.
Starting point is 00:34:49 Yeah. Well, anyway, let's shift gears, shall we? Ahhhhhhh. Let's take a breath. Remembering that Bible quote, it's giving me power. Satan? Satan, you want all up and down the earth? We ask for your help. Remembering that Bible quote, it's giving me power. Satan. Satan. Going all up and down the earth.
Starting point is 00:35:08 We ask for your help. I wonder where he is now. Anyway, the Berkshire Hathaway shareholder meeting was this last weekend in Omaha, Nebraska. And if you don't know what Berkshire Hathaway is, it is the giant, giant conglomerate holding company that is run by Warren Buffett and Charlie Munger, his best bud, Charlie Munger. You might see them at one of Ben's Twister games. Yeah. Yeah.
Starting point is 00:35:38 Charlie Munger is the walking dead. He's 99 years old. He is, I mean, you gotta give the guy credit. 90 fucking nine. And then Warren Buffett is I think 96, or something like that, which is fucking insane. I thought he was in his 80s. They look great.
Starting point is 00:35:58 They look great. That's a trillion dollar mindset salute. Yeah, he gets an honorary medal of freedom. But so I just thought that it was kind of cool, Absolutely. Yeah, he gets an honorary medal of freedom. But so I just thought that it was kind of cool because every year they do this thing, they own so many companies and steaks and so many companies. Famously, they own like Seas Candies.
Starting point is 00:36:16 So they're always eating Seas Candies. But they do these. I'm not even wondering if that's the key to long life. To the longevity, it's that and chair. Doesn't need your cherry cook? Whatever. Yeah, he drinks like four cherry cooks a day. But they have a $370, $347 billion portfolio, most of which is actually just 11 stocks.
Starting point is 00:36:39 Apple alone paid $214 million in dividends this quarter to Berkshire Hathaway and they have a whopping 160. That's what I kind of hate the billion dollars in cash. They're always like, how to trade, like Warren Buffett and then you look at his whole thing that it's like, Apple, Coca-Cola. Yeah, Blue Cross, Blue Shield or something. Well, and part of the thing is,
Starting point is 00:37:02 Blue Cross, Blue Shield or something. Well, and part of the thing is, I was not only looking at the origins of Berkshire Hathaway and all that shit, but he gets, they do a Q&A session with all these investors, but he was commenting, Warren Buffett was talking about banking and how it relates to insurance and he was saying that banking sucks because you get this money from
Starting point is 00:37:34 from depositors and stuff and you're meant to do things with that money. That's how bankers make their money. They loan it out and all that shit, but that comes with pitfalls, of course. You gotta pay dividends, you gotta pay interests, all this all sorts of shit. Risk. Risk, yeah. And I mean, you look at what happened with the banks. Where is- Just look at what happened with them.
Starting point is 00:37:53 Look at what happened with the banks. But insurance is different. With insurance, people pay their premiums, and then the insurance company can just, it's called the float. That money that they then get is called the float and they can invest that however they see fit. And they can refuse to pay your claims.
Starting point is 00:38:13 Oh yeah. Well, they'll fight you on that shit, tooth and nail. But they don't have to pay out until someone files a claim. And I think it was in this. And sometimes when they do, they don't have to pay still. That's true. That's true. Like I said, they will fight you. Not triple A though. They sure paid me out quick for that Volvo.
Starting point is 00:38:34 I love them. But... So one of the things that they did in one of their biggest secrets, not even secret, has been... doing insurance, acquiring insurance companies, and then using that money to then invest. And like in the 90s, he bought or they, yeah, Berkshire bought just like $2 billion worth of, maybe $3 billion total, one and a half each to Coca-Cola and American Express. And now they're worth like, those positions are worth, like, $45 billion.
Starting point is 00:39:07 And like, sure, okay, to what you just said, I mean, I know you're talking about how they're boring, but in my mind, it's just like, yeah, you did it in the night. Right, right, you're not gonna get that again. Right, yeah, when you've got Rivian going public for $120 fucking billion. Right, I'm not saying it's boring
Starting point is 00:39:25 I'm just saying like that's not an option for you It I'd like to see a young Warren Buffett and Charlie Munger do what they did today Right put them in a time machine or inject them with a fucking What's the what's the? Thing that the QAnon people say that they drink baby blood for a Drenacrome. Oh yeah, yeah. Yeah, inject them with some of Drenacrome, Benjamin Button their asses, and let's see them do that again. They probably could, but they, Charlie Munger himself said,
Starting point is 00:39:57 value investors are going to have a harder time now that there are so many of them competing for a diminished set of opportunities and he said said get used to making less. Very uplifting shit. Awesome. Something that I've been harping on for the last decade is just it feels increasingly like it is harder and harder to find opportunities because it is becoming so much more impacted. There are so many more people out there, so many smart people with so many tools available
Starting point is 00:40:23 to them. It's more competitive than ever. so many more people out there, so many smart people, with so many tools available to them. It's more competitive than ever. Fuck. And he goes on to say, I think the solution of having a huge proportion of the young and brilliant people all go into wealth management is a crazy development in terms of its consequences for American civilization.
Starting point is 00:40:41 We don't need as many wealth managers as we have. I agree with you. Charlie Munger. I am surprised. So what's he saying though? Is that there's just too many people who are wanting to get rich and wanting to chase after that life and he calls out the bankers like he said I remember when bankers say he's saying a huge proportion of young and brilliant people going into wealth management. Are there more and more people going into wealth management right now? I find that odd. I'd like to see the numbers on that.
Starting point is 00:41:08 For example, I was just reading something about less and less young law school graduates want to go work for big law because when you go work for a big law firm, you're often representing corporations and just generally fucking people over. And people are saying, you know, we want to go do things that have a social impact and that kind of thing. So I'm wondering what if there are more and more young people going into wealth management.
Starting point is 00:41:36 I blindly trust what he says. I'm sure that the data that he's got, I don't know, maybe it's what's that word? Antic Total. Yeah, yeah. But he did talk about how bankers, he said they should be more like engineers looking at how to stay out of trouble instead of getting fabulously rich. Totally agree with that. I mean, that's, I'd love to see someone he'd done advice. Yeah, shut up, Charlie.
Starting point is 00:42:03 We're ruining the American economy again. I did. I liked what he said about they they had some comments on AI, which was that basically like everybody saying, it's going to change the world in ways that we can't possibly fathom or predict right now, but quite astute. I like that he said, I think it was Warren Buffett said AI can change everything in the world except how we behave. So it will The greed and the fear will never it's actually not true Charlie. I've built a virtual girlfriend out of AI And she's always home with me and she keeps me on top of my shit. It's actually great. What's her name? Her name is Melinda. And um.
Starting point is 00:42:46 That's weird. Why? My high school girlfriend's name. Well, that's my AI girlfriend's name. Melinda. And she's always like, you never take out the trash, it stinks in here. She can smell. I guess so.
Starting point is 00:42:59 She can just sense it. Maybe she can sense it. Yeah. I put in some kind of sniff plug-in. Yeah. You can adjust the levels of like attitude, humor, like the robot and interstellar. Yeah, but I'm way up on attitude. Yeah. You like that though. You like editing. I like when Melinda gives me lip. All right, all right. I'm doing it. What else was there with these old farts?
Starting point is 00:43:26 These old farts. See, this is the consequence of me not having coffee, but I actually feel better. I feel better. I feel so much stronger and more awake. I need some of that nicotine gum. I tell you. No, we gotta get you like a nice breakfast
Starting point is 00:43:39 that would really be good. I had a banana and a Belvita. No, see, that's not what I'm talking about. I wonder what do you think I should have? Like something like Neal. I wouldn a banana and a Belvita. No, see that's what I'm talking about. What do you think I should have? Like something like... Like something like Neal? I wouldn't mind you eating smoke meal. Avocado toast.
Starting point is 00:43:50 Mm. Maybe. I'll have some next time. I do a nice yogurt, a Greek yogurt. Get my cultures activating. Of course. Some granola, some active cultures. Fruit? Greek honey
Starting point is 00:44:08 Very good well anyway And that's how I feel good I just I'm curious what they're gonna do with all this um all this cash What you gonna do with all that cash? They're never gonna pay a dividend again Wormbuffet said that they paid a dividend once and it was a huge huge mistake. I don't know why I don't understand why and Yeah, they're probably just gonna be on the lookout to swoop up some more companies at some point so we're looking to swoop Maybe that should be fun. Oh, and they they've got their successors named and they said that they have 100%
Starting point is 00:44:45 Faith in them. No, they did it. Some guy named Ajit something Azit Ajit John or something is gonna head all the insurance stuff and then some White man in his 50s or something is gonna what makes you think Ajit's not white Just a wild guess. Oh, I think he might be of Indian descent. With the last name like John. It's like, Jean, J-E-A-N. I could be getting it wrong, but any who. Let's see. Don't assume things.
Starting point is 00:45:16 Can we get into the Elizabeth Holmes? Yes, of course. Who is Elizabeth Holmes? You guys know who Elizabeth Holmes is. She was the head of Theranose. Hey, what was Theranos? revolutionary blood testing. Yeah, they were gonna build a machine that would let they were gonna save everyone's lives All right, we would maybe not have to say goodbye to our loved ones so soon with the help of a Theranos device that could
Starting point is 00:45:41 That could prick your finger and take that tiny drop of blood and tell you if you have a whole wide variety of diseases or it could even tell you you were about to have a miscarriage if you actually had a healthy pregnancy, which was kind of a cool thing they figured out they could do. Yeah, things that otherwise would take vials and vials worth of blood could they could assess with merely a drop? That's the point. Yeah, I know, but that's that's that was the lie that they sold. Yeah, yeah. So yeah, there was that woman they they told her she was
Starting point is 00:46:13 going to miscarry. She didn't I think there was one woman they told that she had HIV when she did not. Which is pretty good news actually. If you give them bad stuff first, I'd be like, wow, thanks there, no? Yeah, I guess you might get a new lease on life after that. Yeah, totally. Yeah, I think they were misdiagnosing cancer patients. The whole thing was a total fraud. The machine couldn't do what it said it could do. There's a... And yeah, when it became apparent that it was not going to work out, she just decided
Starting point is 00:46:48 to plow ahead and mislead investors and defraud them. And she ended up getting indicted and I believe she's getting sent to jail for 11 years. And her co-founder. And former boyfriend. Former boyfriend. He's currently serving a 13 year sentence. Jesus. And so she has not been sent to jail yet.
Starting point is 00:47:14 She has been delaying her. She's been delaying it. And the New York Times put out a lovely little article. I didn't know. I think we might have had, maybe we had Elizabeth Holmes wrong the whole time. So it was called Liz Holmes once you'd forget about Elizabeth. The black turtle exergon, so is the voice as the convicted Theranos founder of Wait's Prison. She has adopted a new persona, devoted mother. Okay, and also, so this is the...
Starting point is 00:47:44 I'm blanking on her name. Can you, if you can see her name, this is the woman who was covering Hillary Clinton for the New York Times for Amy Chazak. Yeah. So you know, she's good at kind of, uh, sniffing out bullshit. You know, and I think she's putting out a book on her time with, on her time following Hillary Clinton on the campaign trail and everything. But, so now she's, she's doing her crack journalism with Elizabeth Holmes.
Starting point is 00:48:17 And so I was surprised, I never knew if the voice was actually, I think for a while she was saying the voice was real, but in this she says, in case you're wondering, Miss Holmes speaks in a soft, slightly low, but totally unremarkable voice, no hint of the throaty control, though she used while running her defunct blood test. Right. Because that was part of the thing. She had idolized Steve Jobs going so far as to even wear his trademark turtleneck, black
Starting point is 00:48:44 turtlenecks, but she changed her voice as well. And talk like this, my name is Elizabeth Holmes. And I'm gonna revolutionize blood testing industry. It's a little, little, little, little. And it was this, it was just a total psychopath move. So now she's trying to say face by, but to now she's owning up to that it was bullshit
Starting point is 00:49:05 and saying, I'm actually just a normal woman and I'm a mom and my name is Liz. Who's going to prison? Right, I think she had two kids after she had been indicted and probably knew she was gonna be going to jail. Why are they putting this out when she's about to spend the next decade in prison?
Starting point is 00:49:22 Because the New York, when you get out of prison. The New York Times would like to rehabilitate her image. Fraudster. Can we see what else there is? There's maybe there's some funny stuff in here. Jesus, 10 years ago she was worth four and a half billion dollars on paper in Theranos stock. Oh, perfect.
Starting point is 00:49:39 Theranos ran up to a nine billion dollar valuation. Can you believe that shit? Holy God. Oy, vey. Oh, what what the four and a half billion dollars. Yeah, that she was worth I wonder how much of that she ended up cashing out well either way at all it all went kaput but She found it there. Notice it 19 Right, so why did she create that public persona? I believed it would be how I would be good at business and taken seriously
Starting point is 00:50:04 Not taking as a little girl or a girl who didn't have good technical ideas Did she create that public persona? I believed it would be how I would be good at business and taken seriously, not taking as a little girl or a girl who didn't have good technical ideas. Maybe people picked up on that not being authentic since it wasn't. Yeah, I'd probably, some alarm bells might be going off of, hello. Yeah, are you 19? Yes. I'm going to change the world. I'm going to change the world to this blood topic. She was apparently, I mean, if you watch the Hulu show,
Starting point is 00:50:28 which I did, and it was really good, the machine worked one time, which is probably a fluke. It worked a time, a single time. Right, I mean, apparently it's really tragic. There's a, what is the guy's name? Ian, something, it was her head scientist. Like there's a, what is the guy's name? Ian, something, it was her head scientist. He killed himself with like pain killers and alcohol,
Starting point is 00:50:50 I think, around the time that she was pressuring him to just move ahead with everything. And he was like, it doesn't work. The tech is not there, it's not gonna happen. I don't know if that was because his wife apparently still holds her responsible. And I guess she was really cold around the whole thing. The only response the wife got was a Theranos employee being like, we're going to be coming to pick up his computer and materials.
Starting point is 00:51:16 Jesus. I understand, I mean, just give me a break here when I say this, but I understand what Elizabeth Holmes was doing. She was trying to do what a lot of tech people do in certain cases, which is fake until you make it. Right. It's getting the funding, selling the idea, and then making the technology work after the fact. Right. It looked like it was working at first,
Starting point is 00:51:40 which got all these investors on board. And I mean, look at the same thing happened with Nicola, the hydrogen powered semi truck company that at once was a Wall Street darling and then completely fucking floundered Elon Musk, didn't he? He skated by on vapor wear and and and smoking mirrors and it worked out for him. Right. She was hoping to replicate that success, but it, God, can you imagine living in a world where instead of this happening, Elon Musk is in jail and going, I wanna be called. Yeah.
Starting point is 00:52:15 L. I also, I just find it kind of strange that she's copying to how much this is just like a complete fabrication, you know, she said, you know, like, yeah, the black turtlenecks, the kabuki red lipstick, the green juices, the dancing to little Wayne, somewhere along the way, Miss Home says that the person got lost. At one point, I tell her that I heard Jennifer Lawrence
Starting point is 00:52:33 had pulled out of portraying her in a movie. She replied almost reflectively, they're not playing me. They're playing a character, I created. This isn't gonna help get you out of prison. I feel like she thinks this is it. I feel like it is working for some people they're like oh You know she's just a mom just like me the amount of time she said like if you didn't know is Elizabeth Holmes You would think it was just another mom in a bucket hat getting a smoothie
Starting point is 00:52:56 But I thought she's when is she going to prison? I don't know they keep pushing it off. I guess she keeps like, I don't know exactly what's going on with the- Wait, I'm not ready. She told me she's not ready. Like the last statement, I saw there was a big push, like I don't understand what you're doing more harm than good by sending her to prison.
Starting point is 00:53:19 She has two children that need her mother blah blah, which is like fine, I don't fucking care if she goes to prison. I don't know if that's like the solution here. You don't hurt me. It's just a strange, you never hear people talk about this with like, you know, a lower income person who was like stealing diapers or something. They're like, kill them. We need to kill them.
Starting point is 00:53:43 It's the only way to learn their lesson. And so like this whole thing to just like rehabilitate this woman, woman who was messing with people's health and all this things, just like, they're just all these like, they just want you to think she's so. So on the second day we spent together, Mr. Evans, her new partner, she fell in love after the whole thing blew up. Mr. Evans asked her new partner, she fell in love after the whole thing blew up. Mr. Evans asked me what the most surprising part of spending so much time with Miss Holmes was.
Starting point is 00:54:10 I told him it's that I didn't... Oh wait, oh yeah, what's the most surprising part of spending so much time with her? I told him it's that I didn't expect her to be so normal. Can you believe it? I realized that was essentially writing a story about two different people. There was Elizabeth celebrated in the media as the rock star inventor who's brilliant dazzled illustrious rich men. Oh, it's also important to know.
Starting point is 00:54:34 She really did dazzle. Rupert Murdock invested $125 million in Theranos. There was that former attorney general or something? There was a retired four star, four star marine corpse general, right? James Maddys. James Maddog Maddys. I think there was someone else who was a real who's who of psychopaths, but Rupert Murdoch called himself one of a bunch of old men taken in by a seemingly great young woman, total embarrassment.
Starting point is 00:55:04 Yeah, he invested $125 million. Poor Rupert Murdoch. Poor anyone think of Rupert Murdoch. Is he dead yet? Is he alive? He's still alive. No, he's alive. Yeah, that's great. Good for him.
Starting point is 00:55:17 The way they met, the way they met is very strange to you. I don't, Rich people, there's something I've said it before. They made it a Twister game. Basically, in 2017, as Theranos faced an onslaught of legal challenges, both civil and criminal, Miss Holmes moved to San Francisco where she met a recent MIT grad and entrepreneur, Billy Evans at a house party during Fleet Week
Starting point is 00:55:38 to the benefit wounded wars, warriors. Mr. Evans had gone out to get ice for a party he was hosting. So he left his own party to get ice Okay, and a friend texted to ask if it was going to the benefit so he agreed to swing by for a few minutes And he never made it back to his his party my friends were texting where are you were here? He's like I'm talking to Elizabeth Holmes. I'm following in love with her. Oh, yeah, the voice is actually not real He said that? No.
Starting point is 00:56:07 But I didn't imagine you have to text your friends, hey, sorry, the ice isn't coming. I met Elizabeth Holmes. Yeah, it sounds like he probably got a little turned on by even though he, so at this point, she was outed as a fraud. Yep, all the stuff, the Wall Street Journal article came out in like 2015 and then I think the investigation started in 2016. So by 2017, I'm pretty sure it all started imploding.
Starting point is 00:56:29 And then you know where they went. Where? The Burning Man. Oh, oh. Like any good tech entrepreneur entrepreneur. They went to Burning Man together? Did they say what drugs they did? No, but they burned a tribute to Theronauts. Oh, I say did that in the beginning of the Hulu show. That's right. She writes something on the thing and yeah,
Starting point is 00:56:53 oh, that's sweet, that's special. That's an internal bond for those two. I don't trust this guy. What does he do? Well, I'm glad you asked. So she asked him. Mr. Evans took a few calls for work while I was visiting. I asked what he does.
Starting point is 00:57:05 A lot of different stuff investing starting companies. What? What does that mean, pal? He's the new. I'm trying to be the new Jeffrey Epstein. Oh, me. I'm going to start saying that. What do I do investing?
Starting point is 00:57:17 A lot of different stuff. Really. I'm starting companies in, in like, in, in the lower income brackets. That means you sell drugs in, in the upper income brackets. It means you sell drugs And in the upper income brackets, it means you're what doesn't mean trying to get the sex trafficking I don't know maybe his rich parents probably they did say his parents are hotel leers. Okay, you're fuck yeah, oh my god That is a good If you're wealthy already I'm an entrepreneur. Yeah.
Starting point is 00:57:45 Sure, they've all failed. None of turn up profit. And my wife is going to prison for fraud. There's an insane story about their kid getting sick. She said, their toddler William recently had a 105 degree fever. The couple said, they raised him to the emergency room. The first thing the attending doctor said was, you look a lot like that horrible woman. Which I doubt is true. I doubt he said, I'm sure he recognized her, but there's no way he said,
Starting point is 00:58:17 you look out like there's no way. And then he said, Ms. Holmes looked at him with her piercing blue eyes. And she said, I'm sure you're a better person than she. Oh, oh, this is the doctor still. I'm sure you're a better person than she is. The doctor seemed to realize who he was talking to. She continued, then he said, are you Elizabeth Holmes? And I said, yes. And he said, I'm so sorry. And I said, don't be.
Starting point is 00:58:37 All you know is what you've read. There's no way that, something like that might have happened. There's no way you just said, I'm not sure. Hey, are you like that? I'm like like that. Hey your kids sick, but hey look a lot like that dumb asshole You look like that horrible woman. Yeah Anybody ever tell you that you look like that asshole woman? You know the one that everybody hates incredible are her Incredible bedside man someone else. Yeah, Someone else has to take care of your kid.
Starting point is 00:59:06 I remember when I first heard the term bedside manner. I overheard my sister and my mom talking about like some doctor that my sister was seeing. And my sister said, I just got great bedside manner. And my little kid brain goes, is this doctor fucking my sister? Holy shit.
Starting point is 00:59:24 Cause bedside manner, I didn't know what it meant. Like, you fucking a bed usually. I'm fucking this horrible woman. Well, I think that about wraps it up. No, no, no, there's more already, because this is my favorite part. What? Is there really? Yeah. Wow.
Starting point is 00:59:39 Her kid hates her. This is a fucking like 5,000 word rehabilitation of Elizabeth Homes. They talk to her family. It's very great. It's the best part. By Billy's father, William L Evans' tally, there are over 7.6 million web results on Miss Holmes, all of them negative, compared with 21 million results, many of which are positive for Osama bin Laden. What is his point? He's saying that it's fucked up that nearly all of the search results for Elizabeth Holmes are negative.
Starting point is 01:00:17 How can you glean that they're all positive? I, yeah. What did he, what did he Google Osama bin Laden is good? Also, not to pick nits here. Uh-huh, no pick them. But your daughter-in-law made a thing that didn't work, okay? Yeah. Osama bin Laden, famous for having a plan that did work, okay?
Starting point is 01:00:36 So, so maybe that's why there's some positive results. Not saying that I'm viewing it positively, but I'm sure there are a lot of people around the world who might view that positive. I'm so proud of you for that. That was so good. Yeah, you have to admit when it comes to executing a plan. Yeah, arguably one of the hardest plans to ever be executed. Truly, I mean, you talk this guy, what did he train 19 guys? He, I mean, he didn't Americans did, which is the fucked up part. He got Americans to play themselves. But she couldn't even figure out if you had cancer or not.
Starting point is 01:01:16 Yeah, that's a good place to end the show. I think. Is it? Yeah, yeah. I feel like there's a little more. Actually, they did fail though. The one in Shanksville, Pennsylvania We got him. Okay three for four Elizabeth's over one What else is there what do you got? Well, so this is great a bunch of people a bunch of people wrote in a bunch of people wrote in letters to
Starting point is 01:01:43 the judge and You know, so she's got wrote in letters to the judge. And, you know, so she's got people dating back to her childhood and she said, this is very funny. This is from her childhood friend. Theronos and more of a message to ambitious women everywhere. Don't girl. I think I know exactly what you're gonna say.
Starting point is 01:02:01 Do not tell me it's a real quote. Don't girl boss too close to the sun? Don't girl boss too close to the sun? Don't girl boss too close to the sun, or this could happen to you. There's an unspoken lesson for female executives. You're allowed to be successful, but not too successful, which is crazy. Okay, so this is a sorority sister of Miss Homes.
Starting point is 01:02:19 She wasn't successful. She didn't do it. Like, that's a fucking crazy thing to say. Hey, girl boss too close to this. But yeah, that is our recommendation everyone. Do not girl boss too close to this one. Yeah, don't do it. Going orbit around the moon.
Starting point is 01:02:35 Just don't get too close to that son. And then lastly, there's just a crazy story about her. She got a dog. Uh huh. I don't know what this is, but maybe this is like her to know. He paid this, this, this, this writer. Someone paid her. The New York Times. Yeah. Well, no shit. The New York Times paid her. She's on their payroll, but I can't shake an earlier story that Mr. Evans relayed in the waning days of Theronis, Theronis.
Starting point is 01:03:00 Miss Holmes got a dog. A Siberian Husky named Balto. Last year when a mountain lion carried Balto away from the porch of his home spent 16 hours searching in the woods, digging through brambles and poise and oak hoping to find him alive. Everyone knew Balto was dead, but Miss Holmes kept searching. The relentlessness, the certainty, the fanaticism, it's the same way Miss Holmes kept hanging on it there. I think he's trying to say that like she's ferocious and tenacious and she'll never give up. I think, but it's even stupider. It's like, no, dude, she doesn't know when to quit.
Starting point is 01:03:35 She's taking through Poison Oak for a dead dog. Everyone knew Balto was dead. And the best part is you think, oh, maybe he's gonna come back to it and it's like, maybe the moral of the story is that she does find Balto and she saves his life, right? Wouldn't that be nice? No. Miss Holmes eventually fell. She killed Balto.
Starting point is 01:03:55 Miss Holmes eventually found her. She eventually found her beloved Husky Balto in the woods by then the dog was gone torn apart by the mountain lion. Oh my God. The cops coming from inside the house. And then it says over anti-oxidance. We have these mishomes. Tomas, she has ideas for COVID testing. Please let her create COVID test from jail. Oh man, yeah. Let her get rally, the women's prison around to build COVID tests for all of us.
Starting point is 01:04:24 Well, we hope you've enjoyed this episode. I know I sure have. around to build COVID tests for all of us. Well, we hope you've enjoyed this episode. I know I sure have. Stay tuned for after hours where we're going to be tearing apart that Trump, oh man, the Trump CNN town hall was, it was perfection. It was true artistry and I can't wait Thanks everyone we love you. Goodbye This week on after hours he should be invited to the Twister game Yeah, get him out your Twister game. I don't want to go man. That thing sounds like a mess No, it'll be fun. You lube up the the mat without the participants knowing
Starting point is 01:05:04 No, no, no, I'll check in. I'll call later, I'll say, how's it going over there? Their old ligaments and bones cannot handle it. You think it was like weird to be around him? Yes, 100%. He seemed so normal. Yeah, he did. Did you see the one where he's talking about the woman's titties? To Google Michael Jackson titties.
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