Kind: captions
Language: en
Uh, I want to talk about Trump. What's
your report card on him? How is he
doing?
>> Okay, so uh, here's what Trump's done,
which is both admirable and it is the
reason why they had the biggest fumble
they've had thus far. And it's not big,
it's massive. So, um, Trump as a project
manager,
you know, typically if you measure a
great project manager, maybe they can
manage five to seven projects at the
same time. Deadline, hey, boom, map it
out. Okay, by December 31st, we need
this. By January 7, we need this. By,
you know, February 17, we need this. And
D and just kind of goes, if you've done
it before, you've seen it. You've seen
it probably a million times. and and and
now bring it to a small business that's
still in 5 to 20 million year maybe 100
million a year now go how many projects
are they managing tariffs with 150 plus
countries that they're managing all the
negotiation what's the bandwidth of
lutnik to do it besson to do it oh my
god travel all the deals that they're
doing then you have DHS then you have uh
uh uh HHS then you have what CIA trying
to clean the house with what's going on
there then you have Banino Then you have
Cash Patel. Then you have Pam Bondi.
Then you have Borders. Then you have Tom
Holman. Then you have, you know, ICE.
Then you want to deport all these guys
and the numbers you're trying to do and
how tough it is to do that. Then you're
trying to pass the big beautiful bill.
Then you're trying to do Doge. Then
you're trying to get all these guys that
are coming. Then you're trying He has so
many things that they're hitting at the
same time. He's trying to do in 6 months
what two presidents do in four
administrations, meaning in two terms
each, 16 years. They've been trying to
do that in six six months. So high level
of admiration to take on that much.
What's the problem with that?
>> When you try to go at that pace, you
can't get everybody to communicate with
each other to be on the same page when
you go publicly. Okay. Uh border
crossings, lowest it's been
record-breaking. safer. Okay. But all
the people that are in trying to get rid
of them, you see what's going on with
publicity on TV. ISIS is this unfair.
Look what they're doing. All the crying
videos. The average person sits there
and melts. And even if they voted for it
like, "Oh my god, I don't want to see
that. I can't." What a coldhearted
administration that they have. So easy
for media to run with that. And he told
you my number one is immigration. I'm
going to be doing this right. Russia.
Oh, peace on day one. That didn't
happen. Putin's not working with him. So
that's very difficult on what's going on
with him and Putin. And he's just
calling out Putin. Zalinski took a
minute to get the minerals deal. And
right now they're still the other day he
announced that they're going to give him
weapons to fight against Russia cuz
people are dying. Israel, Iran that one
week. That was the first time I ever
sensed an element of hesitancy and
weakness from the president while he
walked up with J Vance and Rubio and I
think it was Hexit while he came up and
he says, "We just dropped this and our
uh B2 uh B-52 uh uh uh they're on the
way back when they had gone from misery
the other way to confuse everybody." But
you could tell, you know, may may God
may God bless us and may God and you
heard his voice crack. I've never seen
his voice crack. You can tell that's
probably the moment where I hit the
highest level of pressure as a leader. I
watched him very closely over and over
and over again. And then you have this
Epstein thing, which Epstein to me
is probably the number one issue for
MAGA voters on X. It's not the number
one issue for MAGA voters or Trump
supporters,
>> but it's the number one issue or the top
three issue for MAGA voters on X
Epstein. The way they fumbled that is
embarrassing.
Whether Pam Bondi getting up there, oh
my god, let me tell you what we found.
And then Bino, rumor has it he may be
stepping down because he's having
problems working with literally their
word just came out couple hours before
you and I went live and I walked into
the meeting with you
>> and yeah, Bangino may be stepping down,
you know.
>> Interesting.
>> Yeah. So,
>> is there any reason why? I
>> I don't know. I'm sure we'll find out
the story of it, but this was a
>> uh reports or riff between Banino and
Pound Bandi 3 hours ago.
>> So, who knows whether this is true or
not, but it's trending. Okay,
>> people are saying major respect if
Banino actually steps down from the FBI
for the handling of Epstein files.
>> I kind of agree because it's been very
very bad. It's been embarrassing.
>> You can't tell us all these decades
we've had documentation on this guy and
then now you want to tell us that no,
nothing happened.
>> I'm sorry. I'm just I'm sorry, bro. You
can't do that. So, the level of
mishandling of that and then today they
came out and they said out of the
300,000 children that were missing,
President Trump just announced 2 hours
ago that they found 10,000 of the kids.
There's still 290 left. So, they're
trying to kind of find a way to, you
know, really make up for and and the one
thing I know about President Trump for a
fact, you know who he is, my opinion,
Tom, he's a guy that watches everything.
>> You know how there's a guy that's like
doesn't watch everything. It's like,
"Oh, what happened?" Oh, okay. This guy
watches everything. He watches CNN, he
watches Fox, he watches CBS, he watches
ABC, he watches podcast, he watches X,
he watches everything. And the way he
works is my opinion,
he watches and he says, "Ah, that guy's
full of shit." Yeah. where he'll attack
him because it's just defamation and
negativity and and he'll watch this guy
and he watch this guy and he says, "No,
that guy's very fair and reasonable. Why
is he saying this?" So, the three people
I respect the most that seem to be the
most reasonable disagree with me. We
effed up. Hey guys, boom. Adjust
immediately.
>> That's how he goes. And here's what'll
happen. This is the reality of it.
This is going to pass in the next two to
four weeks, 6 weeks. There's going to be
massive victory with tariffs with China
or India. The tariffs revenue is going
to go from 100 billion to 200 billion to
300 billion. Unemployment is going to go
down. Income's going to go up. Market's
going to go up. S&P is going to go up.
Next year's going to be the 250 year
anniversary. World Cup's going to be
here. Next year is going to turn 80
years old and everyone's going to move
on.
>> But with the Epstein thing, I think he
lost 2%. Permanently lost 2%. Not 20%,
temporarily he lost 20%. That 20% 18 of
them will come back. 2%'s not coming
back. That was a very bad mishandling of
things that they did. So if I give him a
score right now for the first 6 months,
it's a B. It was a C minus uh 6 weeks
ago, 8 weeks ago, it's a B right now.
But that A that B can be an A minus A,
you know, in no time. If this China
tariff gets locked in, if this India
tariff gets locked in, if the Panama
Canal, which is very important to me,
gets locked in,
>> if the tariff gets locked in, or if we
come to some sort of
>> trade agreement, trade agreement with
China and the main one is China. It's
China and India. It's really the main
ones I'm interested in. Everything else
just for show. But, uh, if he's able to
do that and increase revenue for us,
give me a break.
>> It's a big victory.
>> What do you think the odds are? I've
heard so many uh like Chinese official
accounts being like, "Guys, listen. We
are not giving you the time a day. You
don't know how to handle us.
>> Uh you think we're weaker than we are.
We've been migrating away from the US
for years. Uh this just isn't a big
problem for us."
>> Yeah. So, yes. So, to them, they're
long-term thinkers and they're only
thinking three and a half more years.
What's it to us? China, you know, we do
four-year business plan. America does
four years.
>> Who gives a [ __ ] let them he's going to
be out and we're going to have to deal
with Vance or you know Newsome or
Spritzker or whoever is going to be the
next guy that's going to come in. Right?
That's how they look at it. But if there
is ever been a BMF
that knows how to play the dark game of
negotiation
and being nasty,
it's him. What levers does he have right
now? I don't know. I don't know what the
levers are. I don't know if Taiwan is a
big enough of a lever. I don't know if
getting the minerals deal from outside
is a big enough of a lever. I don't know
if Apple leaving and making 60 million
iPhones in India instead of China is a
big enough of a lever. I don't know
what's the big enough of a lever to move
them. But he needs some levers. That's
why to us um Panama Canal is very
important very cuz right now CK
Hutchinson owns it and that's a
Chinese-based company and there's no way
they're going to let them sell that to
us. The main ports, there's two ports
that we got to get. There's no way
they're going to. If they do, I think
that's a very bad move on China's end.
>> I hope they do. I hope they don't watch
this podcast. I hope they're not
watching what we're talking about
because if we get that, that that
changes the game on this side cuz we now
have control. So that's a lever. I don't
know how many levers America has except
for the fact that we're a great
customer. What other levers do we have?
Manufacturing? No. What levers do we
have? Strong dollar? Yes. It's not
getting that much stronger. Like we have
the bricks the other day is announcing
that they're coming together. So Trump
is thinking about adding additional
tariffs. He already announced a couple
of them. All I'm thinking about is the
lar. But I trust one guy to me is the
MVP that I'm loving this guy. My
favorite guy so far in the entire
administration is Scott Bessant. I'm a
big fan of Bessant.
>> Bessant is a
whatever happened with him and Musk, I
don't know what happened. Everything we
say is speculation. Only 5, 10 people
know what happened who were in the room,
but something happened. You don't get a
black eye like that accidentally. Yeah.
>> But Bessant
may end up replacing Jerome Powell.
Bessant may be the guy that can do the
deal with China because remember what
Besson's background is? This is the one
thing most people don't know about. You
know what Besson did before he became?
>> He used to be with Soros.
>> Yep.
>> And he worked for the back of the Bank
of England.
>> That's right. And he worked there. left,
came back, became the chief investment
officer of Soros. And who does Soros do
business with? A lot of countries. So,
Bessant has already been trained how to
do that. And he knows culture.
>> If you see how Besson speak, Besson
speaks like this.
>> Lutnik speaks like a salesperson. Have
you heard how Lutnik speaks? He speaks
like a funny, exciting, but best
>> Why do you think they've sidelined him?
He's gone. Like poof, gone. Haven't seen
him in ages.
Look, man. When you have a job like
that, you have to realize
you can't be, my opinion, you can't be
bragging about things getting done that
you're doing it. Even in smaller
circles, you can't do it.
>> You can't do it.
>> To me, I get a feeling
he is
extremely ambitious himself. He's a
three and a half billion dollar guy. You
don't become a $3 half billion dollar
guy without But Bessant is the right
player right now that he doesn't need
it.
>> And and and if I'm Trump,
Bessant is more useful publicly than
Lutnik is today.
>> Lutnik was useful when we were
campaigning to win. Bessant wasn't
useful then. Besson is useful in now cuz
we're in. So, I needed somebody that was
marketing in June of last year, August
of last year. Bessent wasn't marketing.
Besson didn't win any votes, but
Besson's winning votes today in a big
way.
>> No, I agree.
>> Yeah.
>> Um, when you think about that 2% that
Trump lost with the fumble, do you think
that goes to Elon's America Party?
>> Mhm.
>> Yeah, for sure.
>> How do you think the America Party is
going to play out? Is it going to be a
spoiler or is there really something
there?
>> You know what's Elon Musk's most
important tweet that nobody looked at?
most important tweet tweet that every it
only got 16,000 likes. It's maybe the
most important tweet he's ever tweeted
out ever.
Ever.
>> I'm literally in suspense.
>> Oh, bro. Ever. Ever.
I'll show you. So, Gabe Gutierrez put
something at the top. Elon Musk message
to GOP lawmakers considering whether to
side with real Trump or Elon Musk.
And Elon Musk put this tweet. Trump has
three and a half years left as a
president,
>> but I will be I will be around for 40
plus years.
>> Yeah.
>> There has never been a more powerful
tweet by Elam than this. He revealed his
hand. He should have never tweeted that
out.
>> You know what he showed? He showed,
"Okay, make fun of me. Say whatever you
want. Talk [ __ ] about me. I'm worth $360
billion." And Monday when Tesla lost $80
billion, 70 80 billion in a day, Iran
only lost $15 billion. 15 billion may be
a lot of money to a lot of people. Not
to a guy that was worth $375 billion and
now he's worth $360 billion
>> and he's got a few hundred million
followers. He ain't going away. There's
certain people in life that when you
offend, you have to know it's a
permanent offense.
>> It's not a six year, six month sentence.
It's not a 12-mon sentence. It's not a
36-month sentence. You offended the guy.
That's a permanent life sentence. He's
coming for your throat and he's never
going to slow down. That's Musk. So, I
think Musk, you know, for him to create
a third party, there's only one thing
Musk has that drives him insane. And
here's what the problem he has, my
opinion, is
so he starts America Party. When's the
last time somebody at that level started
America Party? You kind of part their
own party that did well. Forget Andrew
Yang, good guy, but obviously he doesn't
have that kind of influence. Roso 92, he
runs for to be president. He's the
reason why George Bush senior doesn't
get reelected for a second term. He
didn't want to talk about him in his
documentary. He was at 18.7%.
Three years later, he starts a party
called the Reform Party. Then he runs
again in 96. In '92, as running it as an
independent, he got 18.7% pee.
>> Wow.
>> But in 96, when he ran as reform, he
only got 8.4%. 4%
>> and then reform Patrick Buchanan. There
was a follow on that. No one's ever
talked about the reform party. It's
gone, right? Yeah, he needs this many
signatures with this state, with that
state, with this state. I'm going to
start off with Senate and Congress and
all this stuff. Maybe later on we'll
consider somebody as a president. Okay,
great. You spent $270 million. You help
Trump get elected and you help
Pennsylvania. No problem. Whoever you
choose as a president, how the hell are
you sure that they're going to do
everything they told you they're going
to do?
>> What do they owe you? Nothing. The only
way to be a real puppet master, Tom, is
you have to have blackmail on the
individual. So, the only thing Musk can
really do to control the candidate
that's going to do 100% of what he wants
him to do is he can only choose people
that he has dark blackmail [ __ ] on them
cuz he can never be president in America
based on the current laws.
>> That's Elon Musk. That's his biggest
hurdle.
>> So, that's probably driving him insane.
Hate to say it, his business model, if
he really wants to become the puppet
master that he wants to become, he needs
people that have blackmail.
>> Yikes.
>> Yeah.
>> Speaking of blackmail, do you have a
take on the Epstein file? Like what's
going on? Is somebody on it? Is it being
used?
>> Yeah. I mean, look, if when when you
become a person that's working in the
CIA or you go and work in the government
or you're highlevel military type of
people, you think you do everything by
the books. M
>> you think the movie as great of a scene
as it is in uh you know few good men you
think you know you want to know the
truth you know code red you don't think
code reds exist in the CIA you don't
think code reds exist in the FBI maybe
not code red maybe it's a different name
that they call it right
>> you don't think that kind of stuff
happens you you don't think any of that
stuff happened I had a CI agent the guy
that got
arrested and uh he was indicted FBI went
after him he was the first whistle
blower that came out and talked about
the water boarding program that they
have, John Kirku, and he did 23 months
in jail.
>> He was on the podcast this uh Wednesday.
We had him on and he said, "When the
Mossad agents would come to CIA, they
would always give us gifts and we would
tell them, why are you bringing gifts?"
He says, "Every time they give us gifts,
they were always bugged. Every gift,
every He" He says, "Every MSAD agent
ever came to us, they always came with a
gift. And we would open a gift, we're
like, "What are you doing? We know
you're trying to bug." Well, we thought
we'd get away with it. So, think about
the natural when Intel works with Intel.
MI6 comes, hey, that's a nice iPad.
Boom. Something you'll never see. Now,
they're listen to your conversation.
Hey, you don't think this kind of stuff
happens? So, they all have stuff on each
other. So, I think they're all so guilty
by having so much [ __ ] on each other
that I think all the intel agencies are
one intel agency.
>> They're like, "Oh, really? Oh, you want
to release that?" Oh, guys, they didn't
he wanted someone to release the Epstein
stuff. This guy's so funny. Hang on. Let
me call him my six. You will not believe
what Pam just said that they Cash just
said on a podcast. Go ahead and release
it, buddy. Go ahead. Let me show you.
Boom. They're all on the same team.
>> Once you have dirt on me, I have dirt on
you. And both of us know the dirt on
each other. Today, it's so funny. A guy
came in, was my biggest enemy in
insurance for a good five years. We're
now such good friends. It's so funny.
But we wanted to kill each other for 5
years. And when I tell you kill each
other, like we would everybody knew if
we're in the same room, we're probably
going to fight, okay? And
he's here, you know, I'm telling the
story. I said, "You remember that one
time you did that? This is what I do." I
said, "Don't don't freaking [ __ ] me
now." And he starts laughing his ass
off. I'm like, "That was dirty, but I
know why you did it." I said, "Do you
remember this?" And we're going back and
forth with the store. We're laughing our
asses off right now. Listen, he's a
multi-figure guy. He sold his business,
did very well, and I'm doing good as
well. But
as you move up and you get to certain
levels,
no one's innocent in government.
>> Relax. There is the TV stuff and all
this podcast people like us. We give our
own opinions as if we know what the hell
is going on and we act all our audience
like, "Oh my god, I like what these and
then there's a legit [ __ ] that happens."
Yeah, of course they're holding people
hostage. Of course they have intel on
each other. Of course they have intel on
some of the biggest world leaders. Of
course they have intel on some of the
biggest billionaires. Of course they
have intel on some of the most
interesting people in every single You
think they're going to give that you oh
did go to jail? No he's not. I said he's
going to be OJ Simpson way before he
became OJ. I said on the podcast a while
back he ain't going nowhere. You know
all those things that he has. Who's
going to let those guys go down? Who?
Endeavor, WME, CIA, who? No, they're
going to let those $18 billion of
revenue and sponsorship and No, they're
not going to let that go away. No way.
It's a lot of people that are being
affected by it. No, but this this was a
fumble. It's a massive fumble. And they
could have released it in a different
way. And some of us who, you know, we
understand how nasty things can be on
the inside. We would have said like,
okay, that's probably what they're
doing. But at least don't come out and
say, "Oh, wait till you see what we're
going to drop." "Oh, wait till you see
it. Oh my god, it's Oh my god, they're
going to release it. Oh, so wait till
Oh, there's nothing. We're not."
It's like you're hanging out with your
girl or your wife, you foreplay 14, 15,
20, 30, 40 minutes and like, "All right,
I'm going to go watch a movie."
What happens when you do that sexually
with your partner?
>> In the middle of you're about to start
getting into action, I'm going to go
watch Netflix. Babe, what are you
talking about? That's it. I just wanted
a foreplay.
>> Yeah, even worse. They were like, you
should go out with me because I'm going
to be so good in that moment. It's going
to be incredible. And then you go watch
Netflix. Yeah. It was literally absurd.
>> [ __ ] show. But as a leader who's a
street guy who understands
that the process of making sausage, you
know this, it's nasty,
>> right? It's nasty. So even yesterday
when you were talking about when you
guys are building questing like yeah you
know most people think I'm nice guy but
to run the company in the streets or d
what we had to do and blah blah blah.
Yeah I mean startup mentality is can't
describe it to some you either
experienced startup mentality or you
haven't these guys are trying to do 600
projects at the same time Tom
think about the amount of stress they
have working there. Like when's the last
time he saw his grandkids?
>> When's the last time he went had dinner
with Imagine you're one of the guys
working for him. You're like, "Roll your
eyes." So, when are you going to come
see the kids? The kids, you know, such
and such had a breakup. He just had
this. His girlfriend did this. His wife,
you know, your granddaughter just did
this. Oh my god, babe. I'm in I'm in
Israel. Oh my god, I'm in Ukraine. Who
wants that life? It's a very chaotic
life and they have a lot of pressure
right now. A lot.
>> Yeah, no doubt.
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And now, let's get back to the show.
What do you think is the most dangerous
idea that's gaining traction in culture
if what we want is a prosperous America?
>> Well, I mean, you look at the financial
capital of the world, New York City.
Okay. New York is known for having the
most popular US team that people know
around the world, Yankees. New York is
known for certain level of pride,
swagger, capitalism, the most
billionaires. They got 123 billionaires.
uh big city, lots of pride, highrise, so
much history, you know, all of that
combined together. Now, the leading
mayoral candidate is a 33y old, 34 year
old man, uh Zohoran Mandani, who is
right now leading New York City for the
mayoral race. He's at number one right
now with 34%. Number two is Cuomo, who
he beat on the Democratic side, but he
hasn't dropped out yet. Then you have uh
uh Chris at third Republican candidate,
and the existing mayor right now is at
11%. The messaging that's resonating
with the audience that is wanting to
vote for someone like that to win is a
man who has been set on video that his
goal is to seize the means of
production. The seizing of to seize the
means of production was only written by
an economist named Karl Marx who that
was his messaging. Right? And you're not
only saying that in a city like Chaz,
Oregon. You're not saying that in
Chicago. You're not, you're saying that
in New York City. This is like the mecca
of business and capitalism, but he's
getting traction. Why is that? So then
when you look at on some of the
positions he's taken for cops where he
said, you know, 5 years ago, you know,
cops are the equivalent of, you know,
the most racist people that we have in
America and we need to defund them and
this is enough. And you look at New York
City back in 2000 compared to today. In
2000, New York City had 40,000 full-time
NYPD police officers. Today, they're at
32,000. Oh. So, it's dropped by 20%. The
population has increased by 500,000 in
the last 25 years. So, you have a bigger
population, but you've lost cops by 20%.
It's not as safe as it used to be in the
past before. And then you're getting
somebody that's coming in that's against
it. At the same time, while they have a
record-breaking, most NYPDs just
announced they're retiring this year
compared to last year 1555 are retiring
and they're just calling it quits. I'm
out of here. Last year was 1,69. So it
went from,69 last year give or take to
1555 this year. And so these ideas
>> that you look at and we never think it's
going to happen to a city like New York.
If you go back 80 years ago, 70 years
ago, Detroit was where the richest
people in the world lived. Per capita
was known as the richest, if not top
three. And nobody thought anything was
going to happen to Detroit. Bad policies
destroyed the entire place. So, I think
when you get a guy that's pitching
socialism, communism in the capital of
capitalism and it's resonating where
they want him to be, possibly the mayor
of the town, you have to be paying very
close attention to this concept of new
generation that's coming up, the new
kids that are coming up. We had this
conversation last night about Gen Z's
maybe a little bit tougher where they
can kind of do something about it. But
for me, it's amazing that after all
these decades of us seeing that
communism doesn't work, socialism
doesn't work, that idea is resonating in
the number one city with the most
capitalist billionaires. Very weird.
>> Very weird. Why do you think this moment
makes probably mostly millennials open
to the idea?
>> Um, you know, it's it's it's a it's a
love affair. It's a romance. It's the
idea where, you know, when I was a kid,
my parents got a divorce. I'll never
forget that every night I would see at
8:15, my dad would walk up her stairs
and I knew he was there. So, I I
romanticize when my mother and my father
being together, okay? And it's this idea
of, oh my god, one day again they can be
married together. You know, every year
as a boy, I was like, no, this is going
to be the year they're going to come
together. No, they're going to come
together. you're like, is that even a
good idea? I don't think it is. I don't
think it's a good idea for this to be
taking place. And this young girl who
went viral last week, who used to be a
staffer for AOC, that helped AOC win
when she was 26, she's now 33, 34 years
old. She says this fantasy of being able
to help people out and these rich people
are bad people. And she starts breaking
things down, saying if there's no
incentive, why would somebody keep
making the apartments better? or if
there's no incentive, why would somebody
make the place better? Like I'm asking a
question for New York City. Do you know
in New York City how long it takes to
get a permit? 2 to 5 years to get a
permit. It's the worst city to get
permits. So imagine if you and I want to
build a building and we have some money
we want to deploy and we want to get get
out there and finish a project. You're
sitting there waiting 18 months on a
permit, 24 months on a permit. The
permits needs to go. One of the biggest
most important
qualities of a city that expands like
Austin permits goes like this. Houston
is six months. Austin is 6 to 12 months.
New York is 2 years to 5 years. That's
insane. So when you watch some of these
ideas and the newer generation, the
younger, no, I think we're going to do
it better. I think we're going to do it
right
>> and then it takes 5 to 10 years to see
what happens there. But for me with New
York that's kind of confusing
is after COVID that happened two cities,
two states lost the most money.
>> And we know this number. You and I have
talked about this. New York lost a
trillion dollars of wealth under
management.
>> California lost a trillion dollars.
Californians went to Texas. New Yorkers
went to Florida. Okay. And now in
Florida, when we run into a bunch of
different people, these are New Yorkers.
So, a lot of those job creators that
left phase one, they left to come down
here. If this guy gets elected in in in
uh in uh New York, Ryan Sirhand, who is
one of the bigger realtors, you know,
the guy that sells $1200 million homes,
he says, "The moment the momentum was
announced that he bit uh he beat Kuomo,
all my clients are calling me telling me
we're either moving to the Hamptons
>> or we're moving to Miami or Florida.
Look for a house for us.
>> Pause those deals." Yeah, it's crazy. So
to me when I look at this it is an echo
of the economy when people they can feel
that something is wrong but they don't
know what the physics of money are. So
they have no idea how the economy has
left them in this situation. But if they
can't afford housing and inflation is
robbing them of their buying power. And
so many of them have gone into a
tremendous amount of college debt. I get
how we end up here. But there is a quote
that always scares me that this
generation does not understand which is
that the miracle is not redistribution
the miracle is the creating of the
capital and I think it was Musk that
said uh once you realize that an a
successful company is a company that can
create something that outputs something
more valuable than the inputs and it's
like that is a miracle but I think today
people are so blind to how economics
works that they don't even understand
that the government doesn't make money.
The government takes money from the
makers who create these machines that
output something more valuable than the
inputs and then they employ people and
then the government swoops in and taxes
those people. And so every time I hear
solutions where it's like in some way
going to unduly encumber those people,
I'm like, uh, they'll leave as history
shows that they will.
>> That makes sense, right? But but to me,
some of the stuff that keeps, you know,
patterns coming back up. My son right
now is is at a camp for a few weeks. Uh
last night he calls me. We haven't
spoken for four or five days. And I
talked to him like, "So, how you doing?"
Says, "Oh my god, Dad, I am so excited.
Let me tell you all these kids I'm
meeting." And he's kind of going through
the pro. And I'm remembering the first
time I'm away from my family and how
this is my chance to show up to my dad
that
>> guess what? I can hang. I can do my
thing. and and you're letting him go
through it. But now, as they're going
through this process, he's also going to
go have to figure certain things out on
his own. Unfortunately,
every generation, even though we
understand capitalism in a different
way, they're going to go through it.
Every time we have babies, this next
generation, they're always going to
start off as being socialist or
communists or coming from a place of
rich people are bad. Why?
the greatest monopoly we have in America
today that still hasn't been addressed.
It's the biggest monopoly. It's the
biggest monopoly and regulators can't do
[ __ ] about it. For every one pro-
capitalist, pro-conservative professor
in school, there's 13 that are on the
opposite side.
>> Yeah.
>> For every one. So, you got 13 to one.
Typically, when AT&T went through the
monopoly law or they were looking at
Facebook to kind of try to break them
apart or Google or some of these
companies in the past, you get to the 50
55% number where you have the market
share. Like Apple is flirting like
smartphone, they're flirting, right?
with that monopoly that they have. What
do you think is going to happen when we
send our four kids or two kids or three
kids to go to school for four years to
be around people that hate billionaires
>> that can't stand rich people that don't
believe in what they believe in? And the
books they recommend to the kids are
Communist Manifesto and they're teaching
that to your kids and then you're around
other kids who either have bought into
it or they're about to be bought into
it. What do you think is going to happen
when they're in that environment? I
mean, we keep sending our kids to the
same place to get brainwashed to come
back and hate their parents for a few
years and then go back to it again. I I
can't tell you how many of my
executives, they lose their daughter or
son. They send them to school for 250.
They come back hating capitalism. They
don't want to be around mommy and daddy
cuz they're like, "I cannot believe you
voted for that guy. I cannot believe you
did this. All you care about is my
money. I'm going to go and work for
UNICEF. I'm going to go and work for
this." And then you lose your kid for
five, six, seven years. And then they
show back up. You're like, "Why did I
spend $200,000
that I worked my ass off for this kid to
go to school to come back hating me?"
Like, for example, if I see your
employees and you're not around, I come
to your place, my job is to say,
"Listen, you guys are lucky to work with
Tom Billio."
>> Let me tell you why. Do you know this is
a guy that's a relentless guy? Do you
know how important it is to work with
somebody that's got a big vision they're
pursuing? You know why that's important?
Because when you work with somebody
else, you know he's not going to be
slowing down and you know he's fully
committed. You guys are lucky. Learn as
much as you can. Okay? Because as it
gets bigger, you're not going to have as
much time. Now, let's flip the script.
You ready? You're not around. I come
talk to your employees. Why would you
guys work for him? You know, he gets all
the money and the accolades and credit.
You guys get nothing. Why are you guys
doing this? What's this all about? He's
using you guys. That's what they're
doing in school
>> non-stop.
>> Who the hell thinks that's a good idea?
So, so to me a part of why
this has happened and you got me
thinking is parents are still
subscribing to the old way of what it is
that we want our kids to do to be
successful and we are responsible for
continuously repeating this pattern
until somebody puts a stop to it. It's
going to continue happening.
>> Yeah. And I think it happens largely
invisibly to the vast majority of the
public. But if the whole idea of the
long march for the institutions is sort
of one of the ultimate conspiracy
theories that whatever the French back
in the 40s50s decided this is how we're
going to do it. We're going to take over
these institutions. They did it. It
spread to America. It happened here as
well. It's uh Thomas I think sums this
up really well that the last 30 years
though he said this 20 years ago. So the
last 50 years have been marked by
exchanging what works for what sounds
good. And because it sounds good,
especially if you're young and emotive
and you're just wearing your emotions on
your sleeve and you want to matter, uh,
all these ideas sound phenomenal. The
bad news is they don't withstand the
test of time. And so when a country ends
up crumbling, it's far more dramatic
than people realize. It happens all the
time. It happens to big countries just
like America. I mean, unfortunately,
history, when you look back, it is just
a a neverending stream of countries that
at the time seemed impossible to fail.
they fail, it's a bloodbath for a
generation or two or in the case of
Argentina, a hundred years of
essentially being in the economic
hinterlands. And so it's these ideas
have consequences and they definitely
play out very poorly. And I think the
next 10 years for us in America, a
different phenomenon, but there's going
to be something that plays out that's
going to force America to decide who are
we? What are we willing to publicly say?
This is what it means to be American.
And the way that we define that is going
to define how well we do moving into the
future. And uh just uh I'll be so
curious to see if you agree. The thing
that I think is going to force that test
is that we are going to
immigrate people into America that don't
share America's core values. I mean,
that's a large part of So my beef with
immigration isn't with low-wage workers.
It's you didn't do anything to find out
if these people share our values. Like I
I love the vision of America as a nation
of immigrants, but they're a nation of
immigrants that over hundreds of years
because long before we founded the
company, we were still a nation of
immigrants.
>> We
had we ended up building a set of ideals
and then when we founded the company, it
was on a set of ideas that were already
like pervasive. And now I see this being
a collision of essentially
Judeo-Christian ethic versus Islam. and
they've already gone so ham across
Europe and you're seeing now I saw the
stats on the major cities in the
Netherlands and they're like 45% 55%
um first or second generation immigrant
and then in Brussels it's over 70% first
or second generation immigrant and again
I'm all for immigrants but if you have
immigrants that don't assimilate or they
uh don't share your values you're going
you're going to end up in a tugof-war
Yeah. So, and that's why we need guys
like you to encourage your viewers to
have more kids
>> because we need to have more kids.
>> And here I'm the worst guy because I
haven't had kids. But hey, the good news
is I actually do tell people it's
probably the right answer.
>> We had a conversation about it last
night. It was great at the at the
restaurant we went to. No, but you know
what's so funny? You're saying that.
Here's how I work for me. It's very
simple. It's not that hard. When I sit
down and I watch anybody that moves into
any community, what happens to that
community? Let's kind of go through it.
My chef that lives with us and and he
cooks for us every day. He's a Muslim
from Turkey. Now, keep in mind, I'm a
Christian and I'm Armenian Assyrian
>> and the Armenian and Assyrian and the
Greek genocide was done by his camp and
he's a Muslim. You know how we get
along? We're like this. We perfectly get
alone when we go to Hampton's wherever
we go. He's with us. He stays at the
house. He takes care of the kids. We
love him. Okay. However, I asked him a
question one time. I said, "You got a
family?" He says, "Yes." I said, "You
have a choice to live in a city where
it's 100% Muslim, mixture, Sunni, Shia,
you pick and choose." Another city
that's 100% Jew, 100,000 people live
there, they're Jewish. 100,000
Scientologists.
100% Scientologist. 100% Christian.
100,000 of them are all Christian. Where
would you want to raise your kids? I
said, "Give me from the highest to the
lowest."
He says, "Christian first."
>> Whoa.
>> Then he goes Jewish, then he goes
Scientology, then he goes
>> immediately did not see that coming.
>> Me too.
>> No, I'm telling you, me too. I I could
not believe he said that.
>> I said, "Why do you say that?" He says,
'Well, most Christians, wherever they
live, it's a peaceful place. I said,
'Jews, wherever they live, because
they're driven by money and finance and
success, they're going to have to make
sure the properties are good, it's safe,
it's secure, thriving, good restaurants.
Number three, Scientologists, wherever
they live, they're also going to protect
theirs. And then you have Muslims. I
said, why wouldn't you want to be there?
He says, why do you think I'm in
America? I said, this is so interesting
when you think about this.
>> This is a very raw conversation. When I
say this, I get messages. I can't
believe you're saying this.
>> Oh, yeah. I'm waiting.
>> Let me tell you what you you cannot I
lived in Iran for 10 and a half years
and I lived it. I saw it. I lived in
Thran from 70 October of 1878 till July
15th of ' 89. I lived there and I
witnessed what happened and all the
nasty the data. Oh my god. It's because
of, you know, it's really everybody
that's behind it. It's really these guys
and those guys and these guys. Who's
behind it? Because from 41 to 79 when
the Sha was in charge of Iran prior to
Kmeni coming, the Sha did business with
Israel. No problem. Frank Sinatra went
and gave one of the biggest concerts
ever in Iran in 1975.
>> Really? I didn't know that.
>> The the ambassador of Iran was dating
Elizabeth Taylor. Just go Google it.
Type in Zahedi Elizabeth Taylor. They
were together.
>> She would go to visit him there.
>> You you look at the biggest of the names
would go to Iran. You type in Iran's
mountains and snow. If you type in Iran
mountain snow, you will be blown away by
what these mountains look like. Pander
Pali, beautiful place. Port Palvi, it
was an incredible place that you would
go to.
There was no issues in the Middle East.
Iran didn't start prom with anybody.
There was no proxy wars of Houthis and
Hamas and Hezbollah and all this other.
There was no Islamic Revolutionary
Guard. It's funny. 6 months ago, I
finally got a hold of the founder of
Islamic Revolutionary Guard that started
it with Kumeni. I invited him. He came
here. We did a two-hour podcast
together. Anybody and everybody who was
from Iran was so furious the fact that I
had him here.
>> I asked him, "This is the same guy that
he and his direct report killed the
existing president and prime minister uh
uh former president and prime minister
of Iran. His reports killed the
president, his report." And then they
said, "No, the guy is the the the killer
is dead. The killer was never dead." And
then he had to go to jail for it. I
talked to him about it. How come Iran
was at peace under the show? How come
the Middle East was okay? Yeah, Israel
was still trying to do their MSAD and
all the other stuff that they were
doing, but how come he got along with
everybody? Why is it that if you type in
a meeting that took place between Stalin
between I want to say Stalin Churchill
and one other world leader could have
been Carter. Why is it when those three
had a meeting they had the meeting in
Iran
>> out of all the and by the way the sha
was not involved they're having a
business meeting to negotiate some
things that they're doing they say where
do you want to meet let's meet in tan
Iran you tell me when's the last time
the leader of Germany the leader of UK
the leader of US the leader yeah let's
go have a meeting in Iran when the last
time that that hasn't happened so so to
me what caused it extremism came in
>> when he came in he brought chaos it was
a mess
And Iran's been doing that for 79 till
today. You can tell me whatever you want
to tell me. In no place am I going to
sit there and agree. Just recently a guy
gets arrested and the and the father of
a daughter because the father of the
daughter sold his daughter to marry a
man who was in his 40s50s. The daughter
is 60 years old. Hamas finds out about
it. They come back and they say, "Shame
on you for selling your daughter to a
man at six years old. You have to wait
till nine years old."
>> Jesus.
>> Did Did you hear what I just said? So,
shame on you at 6 years old. 9 years old
is okay.
>> Yeah. Yeah.
>> My daughter's 9 years old. What do you
mean 9 years old?
>> That's crazy.
>> So, so to me, it's so uncomfortable
talking about these types of topics
>> where we're kind of like, "Oh my god, we
can't talk about that. Someone's going
to slash my tires. What if they see me
in the streets and they come up to me?
What if somebody comes and swats me?
What if I'm getting swatted? Oh my god.
Are we going to keep walking on
eggshells and being afraid of this kind
of stuff? So, you're right. If there is
a pattern, we have to ask why. This does
not mean everybody. It doesn't It
doesn't mean everybody, but there is a
pattern. Here's the other thing. When
you work for a company, any company I
work at, you go work at Microsoft, you
go work at Apple, you go work at
Walmart, you go work at any company. As
you're going through the interview
process, you're going to answer certain
set of questions, background,
qualification, what you bring to the
table, resume, all this stuff, right?
Then when I'm in, when I'm in, what's
typically the first month of orientation
for any company? How special we are, the
history of it, this is our founder, what
we've done. What are they trying to do
the first month to make you be proud of
working at Walmart? To make you be proud
of working at AT&T, to make you be proud
of working at Bridgewater? To make you
be proud of working with Dalio? Let me
tell you how we what we did. To make you
be proud of whatever the job is, right?
>> Do we do that? How much of that do we
do? When I joined the army
and I finish boot camp, uh I'm at an
event. It's either it's I went to April
15th. I joined the army in 97. So, say
there's a Fourth of July ceremony. It's
one of those that happens. There's
thousands of people at the unit at Fort
Jackson and I'm standing I'm watching
everything and then I'm seeing men and
women cry. I'm like, damn, that's an E8
crying. That's a chief warrant officer
for crying. That's an o that's a captain
cry. What what's going on? They lost a
friend. They lost his loss. I'm like,
damn. I get to my unit. When I get to
the 100 airborne division, the first
thing they did is they said, "There's a
movie coming out about your unit that
you're going to be able to see before
anybody else sees." Like, ah, whatever.
Who cares about this unit? We go in this
theater room, 600 people in the room.
You know what the movie was? Saving
Private Ryan. Wow.
>> We watched the movie before anybody else
saw it because it was about the 101st
Airborne Division.
>> Wow.
>> By the time the movie was done, I was so
proud to be part of the 100. So to me,
>> America needs to do a better job selling
America and expecting you to love
America.
>> Yes.
>> Expecting you to be proud to be an
American. If we do a lousy job there, a
part of it falls on us as well.
>> Yeah. No, I agree. This is the more I
read about history, the more I realize
that we really have a problem. We have
lost faith in who we are. And the second
you lose faith in who you are, you are
going to fall. I mean, this is like the
most classic that countries always fall
from within first. But when you present
a galvanized united front, you believe
you're willing to fight, then you've got
a chance. But man, there is uh I mean
some of it is just the the part of the
cycle things have gone so well for so
long that nobody's had to be tough. And
because we haven't had to be tough, we
can have luxury beliefs like uh we're
doing bad things and there's nothing
here to be proud of. And the very act of
doing that is going to tear it apart.
Like even if you want to rewrite history
and you want to say, "Okay, wait. I
don't like some of these things in the
past." And so I'm going to create a spin
that takes our eyes off of the things
that I think were horrible and moves
them on to the things that I want us to
be proud of today. Great. Like if we
want to start talking about like the
civil rights movement and how we did
that and the Civil War and how we stood
up for slavery, like if you've got u
America was founded on slavery and
that's horrible message, you can give
that negative version that makes
everybody feel guilty or you can give
the positive version and the UK has done
a phenomenal job of this. we were the
first ones to end slavery. And it's
like, okay, we can feel good about that.
So, even though they had slaves for God
knows how long, the story they tell
themselves is about ending slavery. We
should be telling the same story. Like,
I agree slavery was terrible.
However, whatever story we tell
ourselves is going to be the thing that
becomes part of the national identity.
It's going to be the thing that gives us
the energy to either fight for who we
are or to be like, "Well, I'm guilty and
I feel bad anyway." So, the person that
comes in with more energy, they're going
to be the ones, whether I like it or
not, whether I agree with their values
or not, they're going to be the ones
that take over.
>> It's true. It's true.
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