Apple Bows to Trump, Bond Market Sounds the Alarm, and Kalshi Bans George Santos

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ready for AI. To learn more about how Core Wave powers the world's best AI go to coreweave.com/ready for anything. We picked you precisely for your hair. On the final day to remind people when hair looks like, Scott will have a hair desert when Scott comes back. Hi everyone, this is Pivot from New York magazine in the vox media podcast network. I'm Cara Swisher, and this is the final day of

Scott Breogas. Yes, it's September, but Scott is still gone. We don't know where he is now. He'll make his triumphant return next week after Labor Day. In the meantime, I have my final guest, co-host. He's a senior national and political reporter for MSNow, and the anchor of Connect with Jacob so-brough, it is he, Jacob. Hello, Jacob. What a delight, Cara, and I was confused if it was going to go to Scott Free, September, but I have to know it's still Scott Free August. No, we can't do that.

But, well, there might be Scott Free all the time at some point. By the way, judging from just when you were getting ready, you were taking off your sweatshirt and we thought you were going to do a

Scott thing, which is show us his chest, which he likes to do. Never mind. I would like to move

off the, we appreciate it that we appreciate. Nobody wants to see the stat bud. Well, in any case, we don't want to see Scott see there. We are subject to it on a twice weekly basis sometimes. Anyway, we appreciate it. We appreciate it. Very much. Thank you so much. I'm seriously, I'm tickled to do this. This is very, very cool and fun for me. Thank you. Well, it was kicked off with Hillary Clinton, and you were the last one. We've had some great co-hosts. Okay, we're going on the downward slide.

I was just watching Caitlin. No. Yeah, it was good. She was great. So, where are you broadcasting now from Los Angeles? This is our, yeah, this is our LA Bureau, and this now, and this is the news from, well, I appreciate you being up with such an, oh, no. So, the newsroom, and you live in LA now, right? That's where you're broadcasting your shows from. Born and raised, and I spent the summer in New York, exactly, but the fires. Born and raised here, spent the summer in New York,

and our studio here in LA is just about ready. So, we're bringing connect to my show back to LA. Oh, great. Is there a special LA thing for it? Explain your show. We should just sort of start it, right? Correct. Yeah, I started on June 13th, and you know, I started at MS now in the summer of 2015, and over these 11 years that I've been here, I have traveled the country,

“and I've traveled the world, and I've been a guy in the field. I think I got the best job in TV.”

I love people. I love hanging around people, and from pulling place lines to the border to Ukraine, to Haiti, to Greenland, to Guatemala, getting to be around people has been, I think, like, the greatest blessing, not just of my professional life, but I honestly really, really, it makes, it fills me up, it makes me who I am. And so we wanted to bring that essence for back a color, my boss back into the studio, and so she asked me if I would do a show, and that's

what connect is all about. It's a show about people. Politics is, it permeates everything we do. But I wanted to center people we don't normally hear, you're not going to see political panels. I got three hours a day. I took over for Ali Velshy, who moved to Primetime, and on Saturday

the people that watch us care about and worry about, and we don't really do the sort of news of the week thing. How is Los Angeles, too? How's I just got back in San Francisco this morning? I love it here,

“and I'm ducking anticipating the incoming, but I think it's the greatest city in the world.”

And I love Los Angeles. Yeah. I don't know why I'm self-conscious about being from LA. I honestly grew up here, and I grew up, as you mentioned in the palstades that burned down in the, in the costliest wildfire event in American history, but I've spent most of my adult life on the other side of town in Northeast LA, and I think that you can get in LA a slice of anything and meet

people from all over the world. Yeah. I always call New York, if you flattened everything out,

if you took all the buildings, it weren't like that. Do you see enjoy your spending time? I do. I love, I don't insult the Los Angeles, I don't insult California, the way other people do, you know, and they just, it's a magnificent state. It's got a lot of issues. We hit obviously. That's exactly right. We had a, we had a, we had a really tough year in 2025 with the fires,

“and then the ice rates that kicked off here, and I think it was really bruising to so many people. But”

the resilience of the city, we sort of modeled it here during the ice rates for everyone else, and to see people spontaneously pour out into the streets, I was out there on June, whatever it was, 7th or 8th of 25. To me, it instantly gave hope to me, and I think to so many people in the city, and so people watching around the country, there's a way to band together in the face of all of this bullshit that's going on. I just introduced Chris Larson yesterday,

the billionaire up in San Francisco, has given a lot of money, and it's very civically oriented, which is unusual, and we had a really interesting discussion about what's going on there. Obviously, he's continued homeless problems. He's a very significant, climate problems, tax problems. You know, the government has grown quite a bit, but it seems like, even though it's more states, I wouldn't rather live there than many states across the country. Amen. And it contributes to so

much for that. And I think people have sort of a warped vision of it that doesn't, it doesn't

“comply with reality. And of course, that's why it's done like that. Anyway, I really like, well,”

thank you for getting up so early. I really appreciate you. And I was in for Chris Larson. I don't have any makeup on other than a little powder under my eyeballs. You look how stop it. Stop your Clark's head, you know, people do call you that, right, correct? With the hair. I'd better than Al Franken's son or Stephen Colbert's brother, although I'm on earth. Oh, you get those, too? No, no, no, no, no. No, no. We picked you precisely for your hair on the final day to remind people when

hair looks like Scott will be, we'll have a hair desert when Scott comes back. May, just say, "Propisha works and I've been taking it for a very long time." So, okay, well, it's working for you. Thank you.

But so we have a speaking of men. Let's not talk about them for a second. I want to mention

Gloria Steinem has died at age 92. She was a feminist and active as a journalist and so much more. We talk a lot about business on the podcast and Gloria once described herself as an entrepreneur of social change. Sheeran that title many times over. I've met her on several occasions, really interesting, sometimes controversial, with even within the feminist movement, very good journalist. If you go back and read her stuff, I remember loving her playboy bunny piece. If you go back and read, it's actually

quite good, where she was a playboy bunny or just a sort of investigative piece. It was just interesting. And just a very impactful person. It's kind of interesting that, you know, to be like, consider some of the leading feminist, a dolly partner Gloria Steinem died within the same couple of weeks or weeks or a week or so. How do you look at this change? How would you cover it on Saturday, for example? I've just said to my team, I have about 25 people that work for me and I think

three of them are meant. I almost want to hand the floor over to the team. I got never got to

meet Gloria. I did get to meet Dolly, which was one of the most extraordinary experiences I've ever had. But when I think about Gloria two things, one, I was just reading the Miss magazine 50th anniversary, which she founded, introduction that she wrote. And I guess I didn't realize how much of what that magazine did was informed by the readers and the letters that were written in DeGloria and how much, almost in an open-source way, 50 years ago, she let the second way of feminism

movement and particularly through the magazine, the guided by the people who were her readers, her clientele, her customers. And I'm so inspired by someone that's stuff that that I was reading. The other thought, the flesh of my head, is I'm the father of a Latino boy and a six-year-old girl.

March, which was the day after the inauguration of Donald Trump. And I was in New York for,

“excuse me, I was in Washington, DC for the first inauguration. And I was held on the lawn where”

Donald Trump said it was the inshonspizer said it was the greatest crowd of all time. And I wrote in my first book about how I stood there on that big white empty plastic jar. And no one was there. Nope. But then I came home that night. And the following morning, it wasn't supposed to work, but my wife, Nicole, and our son, Noah, and a bunch of her girlfriends and our, our, and other kids went to the March. And I called the bureau chief at NBC News at the time,

Paul E. Pal after dropping them off and said, you know, I would like to report. And I have never,

ever, I'm getting the chills talking about this. Seeing a crowd of people, like I saw that day. And I remember watching her make a speech from Washington, DC. I remember standing on the rules there. Man, what was that like? Cool. It was amazing. You know, a lot of pussyheads. I mean, I thought I felt like, you know, I'm here and there on marches because I feel like sometimes what's the point. Like, I think a lot of people felt very hopeful that there was a point. And then you

had, you know, but especially this administration, which is, I would say misogynist in many ways, would, it was, it was great. It was great. I took my sons. I took my two sons. And exactly. I didn't force them into pussyheads, but they would have if I asked, especially my older son who I consider very much feminist. But, but it was more so than me in a lot of ways. And he, he had a

“great time. We had a great, we just had a why it was a joy as a case. That's how I felt too. And so”

while I never got to me, Gloria, to me, in a way and spirit, that was the closest I've come to

being around her. I remember standing on the roof of the satellite truck because I wanted to get a vantage point of how many, you know, I've been to a lot of marches. And I actually, I really do believe in the power of all of that. I've seen it. Kick Greg, but if you know, at every one of those cities, just in the last year. And yes, you're right. There are some. There's an extraordinary power in it. And I, I'm looking back at the pictures today. I still have the sign actually that my wife

carried there in the back of our Volvo. And I found it the other day. And to me, I can't wait actually to talk to our kids about the fact that no was there that day. And the Gloria Steinem was one of the people behind it. What did the sign say? There was love winds forever. Love winds forever. Love winds forever. Oh, that's a nice one. You're a nice family. I call them mean one. No way. I got to find it. Where's my phone? There was another good one thing. And I love rules forever.

Stop the war on women. Another friend of ours Zoey held up. Women freedom. It's very special day. Yeah. Yeah. I'm partial to the vagina once. And like they're really funny once, which are great. I think today it's kind of interesting. I was, when I was speaking through, I was talking about the series, "Virious on Hulu," which is about, you know, lady, serial killer and anger towards man. And it's about Epstein, kind of like figures and getting what they deserve and everything else.

And it's really interesting because a lot of men have had a very bad reaction to it. And I'm

like, do you understand how angry lots of people, especially women are in? It's really powerful.

It's a very powerful. There's incredible women actors in it. And just the anger is their visceral, it's interesting about Gloria Steinem and then when we're on is, of course Ted Cruz yesterday before she died, said, you know, "Lord help us from white liberal women," which, I'm not kidding. I was, I said, you know, yeah, a regular link in that guy is, right? Like, you think about like,

“what in the world does it? How can you want to be president? That's how you feel about a large”

swath of people? Like, it's really, and if he's going to continue on in the Trump way and he's such an unappealing character, Trump had appeal to people. This guy has zero charm and almost despised by people who went to school with and things like that. It just seemed like I thought about it today after he did that yesterday before she died. Or look at, look at what we talked about the last night on Hays' show, what Pete Higgs said posted about those two Canadian, one cadet and

one sole, you know, instructor at the summer camp, military summer camp for, I think, kids and teenagers, basically body-shaming them. What I said on the show was what a sad loser, that this is the dude that's in charge of the most powerful military in human history, and he is shit posting, well, two exactly, but that's, that is the world in which we live, which is why I'm so, I think I felt so emotional today when I saw the news about Gloria Steinem

I'm in with other journalists, and, you know, I was thinking actually about the DC chain fields festival

“that Olivia Rodrigo put on here in LA last week and as well, all women, so many of the same goals.”

Amazing. Oh, I did it. Gloria Steinem, she lived quite a life. We've got a lot more to get to today, so let's

dig in. Apple just followed Google's lead in being a quiz-ling, changing Lake Ontario to, like, America for US users of Apple Maps. Trump celebrated the update writing on two social that the renaming is now complete, ratified and binding, none of which is true. The name change came on John Turner's first day as Apple CEO taking the reins from Tim Cook. Just not a surprise, Google had done it before, as I said, and one company, a little company called MapQuest, which I covered 100

years ago, is back, maybe, the downloads at 1.5 million, the top of the e-charts. Actually, I changed myself. It's, I forgot how good it is, actually, how, how uncreated Google maps are and changed everything, and then I've spent the past couple of days sort of giving advice to Google how to shift off of

search off of Google that you can go to Dr. Go, or some others, which I used to go. And then this

morning, I moved to the Valdi browser, which is a Norwegian browser. I saw you post that. How is that? It's great. It's a great browser. It's a, you know, it's a much, you know, very privacy focus, because it's from Europe, through Norway. I like so far, so good. It's just getting off of things you're used to, right? Like you kind of do things. Now, a lot of stuff only works on Chrome, for example,

“this software we use for this show, for example. So I can't use that. So you have to use it in some ways,”

but disentangling yourself a little bit or having some sensibility is hard, because you can't really pick, there's things that you can't avoid, there's things that you can, but I want people to have a sense that there is choices that you can make as consumers and messages you can send. Let me hear what you think about this, like America. I mean, a ball in the wake of golf. Golf of America. He exactly. He golf in America. He talks about doing an ocean. I think it's just

bothering people, changing the Pacific Ocean. Now, he's saying you want to change the name of the straight or remove the straight of Trump. It is the dumbest thing I ever heard. I want to call it the gay informer. It's pathetic and really sad and obviously just a massive attempt to distract us from the war of choice that he has gotten us into in 18 newest service members are dead and the U.S. is linking his rolling in rusty to Thailand and there is no strategy in the war

and people are suffering in the United States and can barely afford to pay for anything. Groceries much less gasoline exactly. And what are these companies doing? What are these companies doing? What do you think they're doing? What are these really? It calls back to the moment at the inauguration when all of the tech titans were sitting right behind them and they're obviously obviously in some attempt. My opinion to carry favor with them and I just love the map quest

thing because I used to, did you print them out? I used to print them out? No, no, I have printed them out. You don't have to, you know, they have an excellent app. So I'm going to download the app to have it done it yet. But I used to, I love that there. You can put it on your car play, by the way, it can go on the car. Oh, I didn't know that from there. Absolutely. Okay, so I'll, I will do that. But no, actually, there is some level of nostalgia. I have recently talked to so many people about

how my debt collected for a long time typewriters analog lifestyle is coming back into fog in a way. And like it's, it is a very nostalgic feeling to even hear the words map quest. And I'd so much rather be messing around with that and playing with that than like, you know, giving Donald Trump the satisfaction or not. I'm not sure they'll do anything about it,

but at the same time, it was an unusual choice for John Ternis to do on his first day and

quite disappointing. And they look, and at the, you know, at the very end of what feels like the neuro regime, essentially, when things could turn really quickly to do something like this. And obviously, the minute it's possible, this will be changed. These are easy things to change. Just as we'll, you know, we'll do whatever he did all around Washington. We'll change back. But, you know, at, on some level, Trump is Trump, right? This is what he's going to do. He's got

Adam Session with names and things like that. He's trying to cement his legacy. I think that's what's happening here with these buildings, all of which can be taken down, by the way, or moved, or changed, or something like that. And are, ultimately pathetic, but it's the companies, these tech companies that continue to behave in ways that are really disturbing.

“It's about down. That's what they're doing. And for what, for what? And I love actually also,”

so as you posted about how you can report on Apple, it was an awful amount. Where you can

It's so easy to sit there and, and, and do it. And I do agree as soon as they'll have the

“opportunity or as soon as they feel like they have the cover, they'll, they will undo this.”

They think the Democrats will not be vengeful the way Trump is. That's their bet. I tell them not to be so sure. And also, I do think that you're right, that the consumer, we all have so few options. And particularly when it comes to a smart phone, you know, it's not easy just to define something else or different or independent or certainly not given the Trump phone, if that still exists. But what you, what you can do is make how you feel hurt. And these sort of

suggestions that you've been putting forward, I've gotten a great joy out of them because I do think they're so easy to do. Oh, good. I like to do. I like to bother. Just to say about the rest of the

stuff that he renamed, you know, I do worry that it's not it may not be so easy to particularly

the stuff in Washington. Well, we're going to have the golden ass statue. And he's torn down the East Wing and he made tear down the Kennedy Center if he has the opportunity just because he feels sad. That his name had to be taken off of that night. There was a story that I would love to share with you, which is, and we put on my show. I went there to take a look at some of the stuff that he had done around the 250th anniversary. And I was standing outside the Kennedy Center as that

big silly tarp was there covering up his name because it wouldn't take it down. And it was behind the tarp. And a woman approached and said, she had just walked from Arlington National

“Cemetery. I think her name was Madeline and laid her brother to rest, who she said in her words”

was a war hero. And I said, why did you come here after to the Kennedy Center to see the tarp where Donald Trump's name was under? And she said, because I'm ashamed of our country. And I want to go from there where she felt something so meaningful to come and take a look at where we had come. Interesting. He talked about that cemetery. The arch that's supposed to go there. He's moving forward. It's going to block that view. People don't realize that. It's

actually Robert E. Lee's plantation. Those were all plantations back in the day. And it's been reconfigured as something quite beautiful. I happen to like cemeteries. And I think it's one of the beautiful and San Francisco. There's a lot of them. And it's going to just deface that monument to the fallen. And so, again, it's such a strange and more thing. But more seriously, it is, it is distracting. But it is serious the same time. But he's continuing his quest to find

voter fraud. It's something that I've covered. A lot whether it exists or not, hundreds of federal agents from the Department of Homeland Security are working at finding non-citizens on voter roles. This is a very small problem. What's being internally called the unlawful voter initiative, meanwhile, a whistleblower is warning of potentially catastrophic problems with the new US Postal Service screening system for mail-in ballots, which be used if Trump's executive order survives the

courts. It's probably will not. That said, they still may go ahead with it. Today in Missouri, they said they might go ahead with stuff that's already been decided around jury-mandering. The whistleblower says that the system is being rushed out without enough testing under a zero percent failure policy. One barcode error could delay thousands of ballots from being sent out. Now, you spoke with Latisha James, the New York Attorney General this past Sunday.

Let's listen to what she said about Trump's crackdown on mail-in voting. If you think affordability is a hoax, if you recognize that terrorists are having an

“impact on groceries and on the economy, if you have nothing to offer, then you have to cheat.”

And at the end of the day, mail-in ballots have been secure, and the Constitution basically

gives the right of elections time-place and manner to the states, not to the president, and not to the postal system. And so it's important that individuals recognize that the election system is up to the state, and we have not had a problem with regards to mail-in ballots. Now, North Carolina is mailing ballots out this week, and many other states are moving to protect these things and urging people to use those drop boxes and everything else.

So, how chaotic could this get as more states start sending out ballots? I think it, I mean, that's the whole intention here is that he continually loses, let me back up and just say, you're exactly right, voter fraud is a solution in search of a problem, the idea that we have some kind of widespread voter fraud, the idea that there are non-citizens voting in any way that would meaningfully affect the outcome of any election

is just a pile of bullshit, sorry. And for many, many years before I was the journalist, I was an election reform advocate with a organization called Y2sday.org, and the whole idea was let's move election day to the weekend. Why do we vote on Tuesday? No good reason. And give people the day off. Yeah. Make it a holiday, move whatever. And, you know, all these years after the voting rights act was passed, our voter turnout was

because we were forced to vote by mail, forced to make voting more accessible and convenient,

but also secure. And the evidence is indisputable. That voting by mail is secure and safe.

“It's effective and it's a way for people to exercise the franchise. What are they trying to do?”

They're trying to sew chaos. Donald Trump said about his save act as voter suppression bill. That it would guarantee Republican rule, I think, for 100 years. Somebody will correct me if I got that wrong. But he couldn't pass it. The Republicans wouldn't pass it. And so he went about all this other cock and made me ways of trying to take the elections. And if he cannot get this mail, and if this Supreme Court blocks him from doing it, what he's going to do, so many experts

that I talk to think, including election observers, the secretaries of state administrators,

that he could very well use it as a pretext on the back end to go do what he didn't

fault in County, Georgia, which is to go in and seize ballots and say there's fraud or this was a fraudional election. Think about like in Texas, if James Tallarico prevails there, over Ken Paxton, he will use it as a way to say, after the fact these were rigged elections, I didn't

“get to do what I wanted to do to make elections more secure. And so now I'm going to, I'm going to”

go in there and send my justice department or my FBI. And he's already doing it. He's sending these department of justice. I was going on. Yes, I was in Detroit, or he sent observers in the during the Michigan primary. He did it in Minnesota. He did it out here in L.A. The Wyoming governor is complaining about it. The thing about election administrators is that and the people who work under them, they are some of the most civic-minded, non-partisan

dedicated civil servants that I have ever met and I have met many civil servants across many different types of government, municipal government and state government, federal government. They're doing it because they want every day ordinary people to have a say in how we run our lives. And it is pathetic that the leader of the free world of our country targets these folks who all they want to do is allow all of us to be able to speak our minds. And it comes from this place, my opinion,

of just being a small person, of being an insecure scared. I've talked to a lot of mayors and governors that they said they're going to have police forces there to counter, which is terrifying if there's some sort of clash at any of these places. Because they only need to do it in a couple of places, right? It doesn't happen. Well, the whole idea is to intimidate and I do think my biggest concern is that it will scare away these dedicated civil servants from participating

in their elections and upholding the democracy that has worked so well for so many years. There's a reason that we're 50 ununited states of voting when it comes to our election system. The whole point is that the Constitution calls for the time place and manner of elections to be determined by the state legislatures so that there isn't a king in Washington, DC that is putting his thumb on the scale of how we participate. And yeah, the idea of sending ice agents

out the polling places to look for non-citizens. It's the same, it's this exact same strategy that they carried out in all these places that I was from LA to Charlotte to the hallways of 26 federal laws in New York to New York. Yeah, but the point was, send these Greg Bivino and his military costume out into the streets to scare the shit out of people so that in his mind, people would self-deport or Steven Miller's mind, people would leave the country.

Greg says they're trying to kill him. Give me a break. Give me a break. And by the way, find him. How could you, I'm sorry. No, it's okay. I'm going to make a tight joke. He, you're a honest person. I can do so. I'm a little high challenged also. I come in right about, I'll say I'm on the shorter side. Yeah, all right, but tell him Greg Bivino, but anyway. Rachel Maddo says that I'm the same

size in real life that I am on television. You know what? She is a giant. People don't realize

how tall she was. She's tall. I'm always like sit down before we talk because you're far too tall.

There's like two people I do that with when was a supermodel and one is Rachel Maddo. She is much taller in real life. Absolutely. So all just to say, it's an effort to intimidate both the voters and the election workers and to put forward a pretext to come in and mess with the elections after the fact, which is why it's so, so, so important that everybody gets out to vote.

“We just did a story last night about Terran County, Texas where they've reduced by, I think,”

over 100 amount of polling places there because they have a county commission that's three to two Republican, even though the Democratic electorate is growing there, this is, this is, you know, one of the biggest population centers in all of Texas at a time when the Democrats could take control of the Senate there in that seat. And it's just a naked attempt at stealing the election and there'll be more more of this. Yes, absolutely. If you can't win,

cheat on his wife, cheat to golf. She didn't mean that's this kind of brand. It's interesting, again, how many people are these enables? Same thing going along with him. That to me is a really interesting idea of who is who are these people who are doing this and what will be not just their regrets, which I assume that will have them is what is, what do you do about that, you know? You know, what though yet they're also afraid to show up at his silly midterm convention

in Texas. All these folks that are on board with his plans that have been right. This is this convention he's doing, whatever it happened. He says it's a midterm

conviction convention in Dallas. I've covered many conventions for our network. Never a midterm

convention and never one were the present of the United States wants to make himself the center of the story at a time when we're not going. No, when his own party number one doesn't want to go. Number two doesn't want anything to do with him at the ballot box. But yeah, they're all, those are all his enablers. And that's the funniest part about it is they don't want to be seen anywhere near him at this convention ultimately. No, not at all. It's interesting to see what will happen there.

I mean, I suspect there's going to be a bust presumably. And there are some push, I mean, Tom Telles just said pdx, that should go. He could have said it a little sooner, perhaps not voted for him when he absolutely knew he was incompetent before. It's like Susan Collins. I was up in Maine a couple weeks ago. You know, she's concerned about everything quote unquote, but you know, she confirmed Brett talk about the legacy of Gloria Steinem, she confirmed Brett Kavanaugh,

even though she was so worried about the the fate of Rovers' Wade. And now she's up for

“election again up there and it'll be really interesting to see what plays out. I think finally this”

guy's going to take her down, but it'll be I think it's going to be really interesting. But yeah, there's how many of them have are now speaking out because it's safe for them to do so. Corn and um, tell us who got defeated because Trump came after them, you know. You know, I call Tom Telles too late, Tom, and it was like, I'm not too late. I'm like too late. I'm like too late. We're really what you're doing after January. Exactly. Yeah. Well, he wants to he wants to get

on board. He wants to he wants to like, you know, Republican life outside and you can't push too far. But I have to say he did that the stuff he did on he exact is including a tweet that would just make, you know, essentially called him a drunk, um, was, uh, engineering things up, you know, he needs to act soberly, blah blah blah. Um, you know, that's cute, but honestly, but he did call

first that he should be fired. I read that last night. Yeah, I read that last night. There was a couple

like that. Anyway, we'll see what happens. Do you have any predictions on whether it would be successful giving your, you're an electoral advocate? Whether, whether which part of it will be successful.

“Will, will these efforts, any of them, did they interact? I don't know. Um, what I think is that”

I really do think that we're going to, I don't know if we're going to see record voter participation, but what I do feel as a travel to country is that people are keenly aware that not only are the policies of this administration, screwing over so many people, Republicans and Democrats, look at this thing with the beef. Um, yeah, everybody, everybody understands that Donald Trump, I think is in it for Donald Trump, and I, I would be very surprised if, I don't know, I don't want to be

in the market of, I don't want to be in the business of making a prediction about who's going to win, but I, I, I feel the energy on the streets that feels, um, unlike any other time, other than maybe during family separation during the first term, when hundreds of thousands, if not millions of people came out in the streets, opposed to that policy. And I, and I, and I, and I really do believe in the power of people pushing back. Yeah, I do too. I think it's really interesting. The data center

thing is are, you know, it's interesting, the attempts, again, with the neighbors, like brick wallins, the Secretary of Agriculture saying that Kamala Harris would put farmers in prison, and I was like, you knit wet, you sick of fantic knit wet. I mean, the knitwits, I don't, I was, I would be trying to be more of a knit with a Doug Bergen, or perhaps Howard Lutton, saying there's no water in data centers in another area of great anger. Um, they've all sort of, you know, soil themselves,

rather significant money. That issue is, uh, is a pretty, um, pretty incredible issue in how

sailing, it's become, it's really remarkable, and I saw it. And proxy, we talk about that. Exactly. We've been talking about this for a long time, and when I saw some tech companies recently, uh, about eight, eight months ago, I was like, this data center's going to catch on. You understand people are mad, especially when Musk was doing this, this gas-powered one, it was hurting citizens

“in, I think it was Tennessee, and Memphis. And, um, and I, they, they were just sort of trying,”

we were at a, just a lunch kind of thing, and they're like, well, what do you think is going on? I said, we all hate you. Like, I said, all of us, like, hey, you, me, Marjorie Geller Green, like, all these people, like, you're just awful, and we've had it with you people, and it will manifest itself around AI around everything else. Anyway, uh, let's go on a quick break. We get back,

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and you can see photos of past work, credentials and reviews all right in the app. For your next home project, try thumbtack. Higher the right pro today. Jacob will back with more news if the global cell-off and government bonds is pushing borrowing costs to multi-decade highs. The U.S. tenure treasury yield briefly hit about 4.8% as high as since early 2025. That is a dig number. That means it costs more to borrow, just for everyone, including

the U.S. government. Let's listen to what our friend at Park Bill Cohen has to say about it. James Carville famously said that he wanted to come back reincarnated as the bond market.

And he says that because bond market is all powerful,

can topple despots and can even get the current occupant of the old office to change his policy directions and change his mind even though he's a stubborn guy and loves to double down. And what we see now is that the bond market is basically a fount of wisdom. And right now it's sort of flashing bright yellow, nearly red, you know, 40 trillion dollars of debt, 6% budget deficits, worn Iran, straight-to-form moves, clothes, rising gasoline, prices,

and oil prices, inflation generally being at 3% plus percent is not sustainable, not good for the economy. And we need to start taking remedial action and quickly. So basically the bond market is telegraphing economic distress. And we better get our mind around it and fix it or else we could be headed for another dreaded financial crisis. By the way, Bill Cohen has a new book out called Money to Burn, the unbarnished truth about Leon Black Apollo and the rise of the new Wall Street.

This is a really big deal. This is something Trump has sort of hung his head on the stock market raging, which it has been in Wall Street has said, "Oh, we're not going to do anything about them

speaking of another psychophantic knit with Piscott Bessant who was really soiled his reputation entirely was trying to fight the bond market, which means even I know you don't

fight the bond market. It just doesn't. You never win. Wall Street is hard. It's a greed machine.

And so it will do what is best for itself. And in that way, it's a good indication of where

“people are. So talk a little bit about this because I think this goes to affordability,”

goes to a lot of issues. That's the terrifying part of all of this for me. And I'm certainly know economists and nobody should listen to me for financial advice. But what I will say is, I live in the most unaffordable city in the most unaffordable state in the Union. It is not hard to see the dividing line between the rich and the poor, getting greater and greater, particularly here in my home city and in our home state. And it is becoming increasingly unaffordable to do

just about anything in this country and the idea that any of the folks that I, when you get into a

rideshare and sure you do all the time and you talk to people, they've got almost always two jobs

if not three jobs. Nobody can afford to do anything today. And so the idea that we could have some kind of future where through borrowing money and finding a way to build equity in homes or or even to get a car or to do any of the things that we need to live our daily lives is going to get harder and harder. To me, it's a terrifying prospect, but it's not one that I'm surprised by because it's a trajectory that we've been on for a long time now. What way would you cover, say,

a stock market route? Because this is where it's going. I mean, he's saying flashing a lot, a lot really smart people. I follow a lot or quite worried about a stock market crash. Now, I know you can't ever predict this and it happens suddenly. And even though it's directly the way things are going and a little terrifying in that regard, this is, this is all like primed for something really disastrous. How would you cover that? For so many people, whatever a bubble pop would look like,

they're already living it in some respects. I think the vast majority of people are living in a life that is emblematic of this incredible incoming inequality that we have in the country. And so that's for more. Yes. What is the real trickle down? Sure. If we have a bubble pop, it'll only get worse and worse for the people that have already been experiencing it. You know what I was just thinking about is the coming back from the fires here in Los Angeles. The amount of

people who have been able to rebuild is a fraction of the people who lost their homes. The 16,000 structures. The insurance marketplace has been devastated. The cost of building materials has gone up the idea that so many of them are underwater. That number continues to grow. And when you don't have some of the institutional efforts that would help people come back, it'll be, it'll be exponentially more devastating. So like, that's one on the ground story. But as I go across the country,

“you see people every day who live with that. If you want to know what it would look like for”

the stock market to crash, all you got to do is go out to small communities all around the country because they're already living it. You go places and you go down main streets and every other

building or every building is shuttered. People are looking for work in ways that I've almost never

seen in my 11 years doing this here. The way of life that a stock market bubble crash portends is the way of life so many people are already living, I guess, when I'm trying to say that. That's a very good point. That's an excellent point. I mean, the cost of borrowing is the part that I think people don't realize is that debt gets bigger and that it gets bigger because of the cost of borrowing. Again, Wall Street is a very emotionless like this is what is going

to cost you and whatever it happens to be. When you see a lot of it, of course, the stock market itself is predicated on AI companies so that you have some of them will get public, some of them will do well but vast majority of them as it did in every other internet tech thing, I've covered, most of them will be washed out and gone and then will be, again, we subject to just a few powerful companies. Of course, they're shoveling money into political stuff that's in their

interest, not in the public interest in any way. Even when they have kind of like shitty AI efforts like grok, he's putting hundreds, probably hundreds of millions of dollars into the next elections, Elon Musk is, again, which sort of messes up the entire process of how we vote. It's only going to become more acute. The wealthiest among us being able to put their finger on the

“scale of these elections in order to further exacerbate the divide. I think it's going to be”

the defining issue of Gavin Newsom's presidential campaign if and when he decides to run. I just think that he has, I do think it's going to be one of his greatest challenges that he has presided over this state, which is, as I said, the most unaffordable, any unequal state in the

California as a leader on so many issues, it's also a place where we can see what the future might look like if we don't, if we don't, continue with it now. It's going to be tough. Anyway,

let's go on a quick break. We come back. We'll talk about calcium issuing its first

ever lifetime ban. Every living cell in every living thing is related. We're all part of the same tree of life. Now scientists are trying to make a new tree of life, building their own cells out of non-living, chemical parts, and hope that it comes to life. To create new technologies that will help our economy that will help the climate, but they have to navigate the risks. There is the potential

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“threat to life on this planet. So do you fear us more than the people who made nuclear weapons?”

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Jacob, we're back with more news. Calcy is issued its first-ever lifetime ban to none other than

former congressman George Santos, of course. Poor one out for George Santos. What a surprise. Cheating cheater is cheating. A regular say Santos made more than $17,000. But he's such small ball too, by the way. By betting on his own attendance of Trump's state of the Union while making misleading social media posts about his plans, Calcy also hit contours with a $70,000 penalty to company also temporarily suspended three political candidates after they bet on the races.

Of course, there's a lot of political anger towards these betting markets in some states, declaring the legal they're gambling essentially. They need to be regular like gambling

“companies. He'll probably be banned from polymarket, but I'm not sure if he will. I think they're”

less inclined that way. Calcy is trying desperately to look legit to sort of be the good cop kind of thing in this market, which is incredibly popular. How do you look at these markets? And obviously a lot of companies, I don't know if I'm as loud as doing deals with these people. I'm not, I don't know, I'm not privy to it. I look at it. I look at it with the stain. And I think that the, the, the reason I say that is that there's new reporting now that it

could have very well affect the outcome of the election in November, because people will be betting on and then voting based on their bets, who could become, who could control Congress or who could become the next president of the United States. I think it's really dangerous. I do think it's, the idea of, I think it's a very, very serious concern that we should all have

that ultimately this will affect the outcome of the elections, not because this is what people want

on these online betting markets. And yeah, they're very easy to cheat. There's it. How about the

story of Donald Trump's teleprompter operator betting on on the words that-- >> I think he was hit with a fine. >> Yeah. Well, the words that Donald Trump, and I think they let him go from the White House, the words that Donald Trump would say in any given speech, it is, I'm very, I'm not a betting person. You don't want to see me in Las Vegas, it's pathetic, but it's a very scary proposition to me that. >> How would you do sentiment? I mean, you can't

go to just farmers markets to get that, right? Like, it's, that's just sort of the, the caps,

“captures the moment, right? That's what people you can't. And polling has certainly been badly,”

you know, tarnished by everyone. >> Especially this year. >> Especially this year. Be a look at Michigan. >> Michigan was constant. >> Polls aren't people, betting markets are not people,

and anecdotal. >> They are. They're people with financial incentive. >> Yes, often.

>> Well said. >> Truthful. >> Well said. And talking to people anecdotally at farmers markets, it's not that, it's not the pulse of the people, but it's why I do it every week, and why I don't do it once. And I actually think I have so much admiration for the early late night host, like like Letterman or even Leonard who would go out onto the street and talk to people, Billy Eichner who would do Billy on the street. Like, when you get people in that run,

most unfiltered moment, that is actually what they think and what's on the pulse lines. And they're not expecting it, there's no calculation behind it, and it's, and it's what I love about it. We can see it reflected in the viewership of the show, actually. We said a meeting yesterday, we were talking about this. I think people want to see themselves reflected back on television. Crocodile had a quote and I'm going to butcher it, but it was something about holding a mirror up

to society, so people can see themselves on broadcasts like these. And that's why I love doing it. It's not someone hiding behind a computer screen, making a bet. >> True, but that the watching trends are using calcium, is entertainment, using polymarked, is entertainment, especially for young man. It is their television in some fashion. >> And I really do, I really, really do worry about

“that. The only thing I can do, I think, in addition to covering it and the negative impacts of it”

is as I tell my ten-year-old touch grass or touch dirt, get out there and be around real people, because being in a studio is an air condition. >> I call it airless. >> Yeah, exactly. >> We have a newsroom behind you. Newsrooms are not airless. I've been in Plenty, I was at the Washington Post, the Wall Street Journal. >> I do love being in this type of environment and around people, and because it's earlier the morning here, it's quite a thing. >> But the newsrooms are empty now,

compared to the way they used to be. They used to be just pubs of bacteria. >> Oh, if I can get on my high horse about pepper one second, there is nothing that has made me feel more confident and a bigger fan of actually local news and the definition of public service that they provide than what we went through in LA over the course of the last couple of years with the fires and then with the ice raids. I don't know if you know them, but I would love to give them a shout out, LA taco is a small

independent media organization out here in LA. Memo Torres is the Ramirez who is almost on a daily basis track the ice raids here. K A B C, one A P-body award because of their coverage during the fires.

>> For their work, the work was amazing. No, journalists do swing into action when there's the crisis

and I thought the fire coverage was incredible and the coverage of the ice raids. >> And then with the ice

“raids in Minnesota, there's been several stories where you have to be on the ground. >> Block club in Chicago,”

there are so many of these, and the more, if I was a, if I was a billionaire and wanted to put my money behind something in philanthropy, I would fund a holy hell out of local newsrooms and independent journalists. >> Oddly enough, I said that many, many years ago to several of them. They're like, where should we do this? I was like local, local, because the right wing was doing it. >> Jump money into these local independent newsrooms. Exactly. And because they are, they literally were lifesaving

in many instances during the fire. This streets on fire or that person's on his roof or that we've just seen this person where even though I was from here and on the national news, I can't get into that level of granularity about stuff. >> granularity. No, that was what my concept for owning the Washington Post. I was going to make it like a newsroom for the country. >> There's still time here. >> Yeah, no, he's not selling. He's not selling although I have to say their news is gotten a lot

better. He seems to be being much more. They seem to be more aggressive in the news section. It's on Trump. They're broken an upper of really important stories. That said, he's still a terrible owner of it and should sell it to me. All right, Jacob, one more quick break. We'll be back for predictions. >> So like any good millennial, I have a love hate relationship with Gen Z. It's the phenomenon rattling millennials. >> They just look at you. They want something bigger themselves.

Lifestyle's a priority. Motivation is being inspired. But regardless of how you feel about Gen Z, it's undeniable that they're changing national politics. >> Generation Z is increasingly showing less loyalty to traditional political parties. Many now more likely to identify as independent.

now is that all of a sudden they're all socialist. That is just not the case. They are embracing

“candidates who are offering new bold ideas in the absence of those ideas from establishment Democrats.”

>> This week on America, actually, Gen Z researcher Rachel, Jim Faso joins us to separate Gen Z fact versus fiction. >> It's not rocket science. And this is, you know, I keep saying, like, Gunkwaters aren't that complicated after all. It's pretty simple. >> Catch us every Saturday on YouTube or wherever you get your podcast. >> Hustle culture told us to grind 24/7 and we would become overnight millionaires and a lot

of us believed it. But this week on Nettworth and Chill, I'm making the case that the grind might actually be making you broke. Because between the door dash orders and the ubers and the sent out laundry, the hidden cost of overworking ad up faster than you think. I'm breaking down the real financial toll of burning out. Why trading sleep for side hustles is often the wrong math and what Gen Z quietly quitting actually gets right. Plus, I'm answering your questions, including how to tell

if your business idea is actually good, whether cash out your vacation days or take them, and how to actually grow your wealth without destroying yourself in the process. Listen wherever you get your podcasts or watch on YouTube.com/yourrichbf. >> Now it's time for predictions. Before we start, I do want to speak of Los Angeles. I do want to give a shout out to Pablo Torre, who was given enormous amounts of grief for reporting on

Steve Bomber has been kicked off his team for a year. He essentially can't participate paying

in a $30 million dollars. Essentially, he tried to find a way to pay a player more to get away from

the salary constraints in basketball. All these sweetheart deals. This was with a signed company. He invested in it. Essentially, he was a way to pay someone under the table and get away from the salary constraints. Pablo had reported a lot about this. There was a story in ESPN, a shitty story that said, "No, nothing was to see here." It turned out there was a lot to see here, and the NBA

“just really smacked them hard. I think they're not good. I think the people, when they have a”

first round drop, going forward, I think they're 10-year-olds right now. They're going to be able to pick from people or 10-years-old right now. >> My son has a chance. >> Yeah, your son has a chance. Is that hitting LA in a big way? >> I think so. On my family, Texture at my dad, my brother-in-law, my brother-in-law, we're all just texting about Pablo. I think either this morning or late last night, before I came in here, I was embarrassingly for a very long time, a Clipper fan,

because my parents didn't want to pay for the expensive seats to go to the Lakers, so we will go to the Clipper Games at the Sports Arena. I've been to hundreds, I don't know, L.A. Clipper Games, but in the seats. >> The Lakers are also in flux because of the family fighting, so yeah. >> In the steam bomber era, though, as it became, I've been into it once, I just started for the today's show before it opened about the Olympics and how we were going to

have events there. But I haven't been to the Clipper Games in this sort of tech, steam bomber era very much. It's really disappointing. It's really disappointing that the team feels increasingly inaccessible when historically the team was the team of the working class in Los

“Angeles. >> Now it's going to be shitty, so it'll be free. >> Yeah. We'll be back to free. But yeah, he's, I think,”

he's banned from even showing up at Games. >> Yep. >> Now, for a year. >> Yeah. >> Great. This whole thing was very, very disappointing and public Tory, again, to echo you. >> Finds out.

>> On the theory of the project. >> Unbelievable. That dude is incredible and I'm proud to call him a

colleague at MS. >> Yeah, you know what? The Sports Reporter is usually in the can for the owner's most of the time. And he should a lot of sports reporters were attacking him. It was really something to say. And even Mark Cuban also said he didn't have a story here in scammers. It was blamed it on the company that did this deal. And Mark said, yes, congratulations, Bob. I mean, they all kind of called it wrong. Maybe they couldn't conceive that bomber would do this. But it

looks like he's pushing, by the way, let me be there. He's pushing back and calling it a witch hunt, which just to me, like, don't use that word, which is, you know, he's tried to become a civic minded looking. >> He does have a big charity here in LA, and I do know that he spent put a lot of money through his charity towards a lot of causes. And for renovating a lot of the parks here, and stuff. >> That's not a good, it's not a good Steve. >> Yeah, no. >> The old Steve, old Steve is back.

Anyway, prediction, go ahead. >> We talked a little bit around it throughout our conversation, but I predict that we're going to see just an extraordinary flood of people come out to participate in the midterm elections. More than we're anticipating, the level of enthusiasm that have seen

the amount of people that I'm hearing from just the vibes. I'm always never accusing me of being a

particularly a VIP person, but when I'm out and I'm around people these days, you can sense that

lives back, and I'm very eager to see what how that actually manifests. But the prediction is

“not only are people very pissed off, but they're finding ways, I think hopefully at the ballot box”

that they're going to actually, they're actually going to manifest all of that. >> Yeah, the ceiling, I believe, and as voters, honestly, they'll have to say if I had to pick anyone. We'll Mitch McConnell be among them. He hasn't been seeing in public for 80 days, since nearly a month since the scene provided an update. >> I don't even talk about that anymore. I'm so glad that you brought that up. It's true. Where is he? >> Where is he?

>> Well, now Scott Jannings isn't sure he's coming back after. Honestly, Scott, it's beginning to soiling yourself over an issue. It's really astonishing. It's an astonishing thing that he's allowed to do this. I'm sorry if he's sick, but he should quit that if he's sick. I'm sorry if anyone is in capacity like that, even people I don't particularly like, but it's gross. Another interesting, I have a prediction

of short one about the speaking of Los Angeles, the Paramount merger. It's sort of dueling handsome men, stars George Clooney, when asked about the Paramount merger said,

"I don't know how this goes through. There's so many issues involved. Adding, I always worry,

whenever big companies are consolidating because it usually means a lot of people lose their jobs. He also defended Mark Ruffalo against charges of anti-Semitism in the Paramount level against

“in which I think they oversept in that regard." And then Tom Cruise came out for it saying”

"It'll help people." Of course, he's mobbed up with them in a really significant way they pay for all his movies, including the days of thunder, which I'm looking forward to. I like Tom Cruise's movies, but yeah, I wouldn't, I would say he has more at stake here from a financial interest to say to back them. But it's really interesting that you have this kind of shift happening. I can't say, unless there's a saddle net, and I know why Rob Bonta would settle at this point.

He's accusing them of being liars and walked away from a meeting last week. He did, and, you know, tomorrow they could settle in seconds. But he has the upper hand now with this meta-settlement, which it makes him look good. And he's showing that people can settle. He's willing to settle in the right terms. So it'll be interesting to see if they will present anything that's acceptable now to this group. They're trying to peel off attorney generals. I don't think

they're peeling anytime soon. If they get one big deal, but they shouldn't. They have the upper hand here. And so it'll be interesting to see if Clooney or Cruise will prevail here. I suspect Clooney might, at this point, he's a pretty powerful figure in Hollywood, but still. To be certainly everybody out here is watching that extremely closely. And in our line of work, too, you know, I think the biggest topic of conversation is the CBS CNN potential merger.

And yes, I know. I live it everywhere. I can't exactly. And what that pretends have been following your journey in that regard. But Bart's a told me when he, when he was on my show, he's been on my show a bunch of times. It was one of the things it was for my friend. But again, he didn't put it in the case, which is interesting. I think a lot of people are thinking about it. See, I can tell you, they are. I just am articulating the mood inside. Let me say. I don't think

I'm way of some people, you know, see opportunity as always. People climbing a greasy poles love to

see if they can get up higher. But I think most people are pretty, like, I don't think so, especially after this recent terrible CBS story about outside, which was entirely fictional.

“I don't know what else to say. That's what it was. So we'll see where it goes. But George Clooney”

is on the job. And I think he will top Tom Cruise in this regard. And even though I'm very excited about the new day of days of thunder with Anne Hathaway. And I always love me a top gun and I love me a mission impossible, but Tom, come on. You are actually supportive of workers. I'm surprised that you, you know, that you're pro power in this situation. Anyway, we want to hear from you, send us your questions about business, tech or whatever is on your mind and go to nymag.com/pivot

to submit a question for the show or call 855-51-pivot. Okay, that is the show. Our last show of Scott Free August, and couldn't have had a nicer guy with more magnificent hair to do that with Scott is really so jealous of your hair. He really well, honestly. It'll be a large topic.

Don, you're pro-pisha. And as a long time listener, first-time caller,

thank you so much for having me. Of course. And thanks everyone to listening to Pivot. Be sure to like and subscribe to our YouTube channel. We'll be back next week with a return of Scott Galloway, and watch a Jacob's show, connect with Jacob so far off on MS now. Scott'll be back next next Friday, a week from today. So get ready, everybody. Today's show was produced by Laira Neiman, a Zoe Marcus Taylor Griffin and Todd Wiseman, Arnie Andrew Dudt, engineer this episode,

Nishok Krua is a boxed media's executive producer, podcast. Make sure to follow Pivot on your favorite podcast platform. Thanks for listening to Pivot from box media. We'll be back next week for another breakdown of all things tech and business and the return of Scott Galloway.