Trump's Tariffs Return, Kalshi's Midterms Hub, and Elon's AI "Odyssey"

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“I think my third wife is here, so my next X-Wife is somewhere in this crowd.”

I'm not going to say a word about that. Hi, everyone. This is Pivot from New York Magazine in the Vox Media Podcast Network. I'm Cara Swisher. And I'm Scott Galloway.

Scott, we are here in California.

The housegate behind us. It's really quite awful here. I don't know how people survive. Why? Whether the breeze, the ocean, the in and out burger. Yeah, awful.

Yeah, so we're here at a conference. We're recording this live in front of a live audience at CIO Summit in Los Angeles. This is a Tera Naya. We're again, I used to run the code conference here for many, many years and many memories. There really are a lot of memories here of doing things.

Yeah, you absolutely, this is kind of where you're, this is where you made Mark Zuckerberg sweat. Yeah. I think they can sweat. He's sweat because he had a panic attack.

Okay. Okay. Yeah, no, I can see it.

With the real memory from me, this is actually the last interview that Steve Jobs

ever did. He did several interviews here, but the last one before he died was here, which was really an amazing interview. It was actually just in this ballroom here. And one of the things that I remember before that, when we did Gase and Jobs together,

is when we had Mark here the year he sweat, all he wanted to do, he was up and coming entrepreneur. The Facebook wasn't very big. And all he wanted to do was meet Steve Jobs, like kind of a fan boy, which was really something else I introduced them, which was kind of a moment.

And it was actually literally right down on this lawn right here. So it's places full of memories. Yeah, no, that's been fun. Anyway, and you're thrilled with it. So what have you been doing this week, Scott?

We went, you just became a regent of this University of California. Yeah, and thank you. And other news, Joe Rogan has been appointed the head of the CDC. Yeah.

“Let me be honest, when you saw that this morning, did you think it was the onion?”

I did. I didn't think it was real. I was like, what is Gavin up to? Like, what was happening? And they also called you the Left Wing Joe Rogan in the story in the New York California

post in Europe. Yeah, how many graduates of the University of California do we have there? So I don't like to talk about myself, but I will, for just a moment here. So everyone, or when you get to donate, you want to be on an important board, you want to be on organizations that are innovators.

I would argue that the University of California is the greatest innovation machine in history. We have 75 Nobel Prizes for a five last year, 300,000 students, 200,000 faculty, 7,500 PhDs, more startups, creating more value than any nation in history with the exception of the US in China and consistently punching out, you know, giving unremarkable people remarkable opportunities and just a flashback to when I applied, I'm UCLA and Berkeley.

Mission straight when I applied was 74%, to UCLA. And I was one of the 26% that didn't get in. Wow. That was great.

“I was installing shelving, came home, my mom said, let's appeal, and I remember when”

they called me and said, you're not qualified, but you're a native of Santa California. We're going to lay you in. And then I rewarded them with a 2.27 GPA, true story from UCLA. And this is how-- Wait, you got two point two cents.

Which is an easy to graduate. It's not easy to do. Yeah, it's not easy. It's not easy. Would you not go to classes?

No, I learned, I learned every line from planet of the apes and how to make bonds out of household items. That's fine. All right. And then this is how different the University of California was back then.

I got into Berkeley's high school of business with a 2.27 GPA. And then quite frankly, like a lot of men who have a immature, prefrontal cortex, I got my shit together. And so just a virtue signal, my soul mission is accessibility and figuring out a way that

Yeah. Anyways, that's my-- Wow.

“I'm still sick with two point two seven.”

Is that the key? Not easy. Not easy. A lot of--I had nine Fs. So I got a job at Morgan Stanley because I lot about my grades.

And I--but I wasn't going to be able to graduate because I couldn't pass calculus. I failed at twice and it was failing it.

And if you fail something the third time, it used to you and I allowed to take the

class again. And I was going to have to become a psych major and go seven years under grad. And so I looked up the nine Fs I've got. This is all true. I want to all of these professors.

And I walked in and said, if you give me a D, I give you--I get the units and I get to get a Morgan Stanley and you get to give this valuable seat to someone else. And within about 20 minutes, I got three for professors who were basically like, you discussed me and they signed it and--and I was often Morgan Stanley to build a world fixed income.

Wow. And then, oh, it happened. Yeah. Put the dots together. Wow.

That's amazing. What do you think I got in college? My great point. I would imagine you got every award. Yeah.

Yeah. No. I was rejected by most newspapers. Because there were jobs then. The journal was undergoing.

Are you a judge now, no? I did. Yeah. Yeah.

I was the foreign service school.

That's right. Yeah. That's right. Yeah. I wanted to be an artist.

I wanted to be an artist.

“I was rejected because of her lifestyle.”

Yes. My lifestyle. Just got very quiet. No. I was gay.

I wasn't allowed to be in the military. So we're going to move on with the show. We're going to talk about it. I actually just got here because I spent a lot of time with three possible democratic candidates.

Go on. I went, I interviewed Gina Romando who was the former governor of Rhode Island and also the Commerce Secretary who passed the Chips Act and the Infrastructure Bill. I was with Pete Buttigieg in Michigan where he lives, Travis City. Yep.

And I was at J.V. Pritzker this morning. So it was interesting. It was a little tour. Two to three have no chance.

One to two female and one to two short.

Okay. All right. True story folks. We're a late sexist and looks us in this nation. Yeah.

We'll see you in any case. They were very impressive. True. All right. Who is going to be the president?

I took him at it then for that. Italy there'd be Gavin Newsom or TBD.

“America likes to fall in love with someone.”

They don't know well before Fox destroys them. It'll be a Democrat. Right. So we're going to go back and forward. But tall handsome California's got a good story.

JB Pritzker outside shock. Good dad energy. Awesome. If you can maintain the whole camel identity thing. But Fox will soon turn its sights on him and we'll find out.

Yeah. He's being called hot lantern now. That guy's too perfect. There's got to be some weird shit in there. That's who I would belong.

And here's our political pun. Going on anyway. We're going to turn it. I was a guy at the Mondale poster in my fraternity room. I was a guy at the Mondale poster.

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I was a guy at the Mondale poster. I was a guy at the Mondale poster. I was a guy at the Mondale poster. I was a guy at the Mondale poster. I think they're going to pay a huge price.

I've said this, it's like that animal house film. When Otter says to the guy who apparently lent his parents' car to the attorney brothers and they crashed it. You fucked up your trust to us.

“That's how Canada feels about the US right now.”

They fucked up. They trusted us. They thought they had a great ally. They thought they had a great trading partner. They don't.

We were willing to basically neuter them economically.

Why do you think Trump is doing this? I mean, he was mad about the wildfires. I think they were sending us beautiful orange skies in honor of him. But why? Why? There's no rash.

I don't. But the notion that they can raise money. I don't. It literally in less. If he was more strategic.

I can't imagine a more elegant way to reduce the prosperity of Americans than tariffs. I don't. I can understand what he's thinking. And supposedly his inner circle is said this is a terrible idea. Right.

And yet. Here we are. Another story. Calshy just launched a new midterms hub tracking real-time odds for every house and senate rate of race across the country.

Calshy is calling it a one stop shop for election forecasting. Serving the public campaign journalists, policymakers and researchers, by the way, roughly 75% of people are going to Calshy are there to check odds. 25% are trading.

More than 30 million dollars has already been traded and wages about the control of the house and the senate.

And a spike in the prediction market volumes expected as we get closer to the election. Now you you put a lot of faith in the predictions market. I find them very game oriented, meaning they can be easily gamed by by not so great people. I also have an issue with Pauli market given the kind of things they allow people to bet on.

There's an issue in the New York Times today about a investment firm that Don Jr. is involved in that somehow has 200% returns which are unprecedented. And it's what probably because of his large brain. I'm guessing not, but talk about about these markets. Because if you were advising a campaign, what would you tell them about them?

You've put a lot of faith in them. I put less so. Yeah, so I'm not making a qualitative judgment on whether prediction markets are good or bad. I've real concerns around gaming and gambling and its impact on young men. But polling companies are basically going out of business.

“Because if you want to know how someone what someone really thinks, don't ask them what they think,”

ask them where they're putting their money. That is, it ends up that the wisdom of crowds in terms of their what they're actually wagering on, what they're actually voting with their wallet.

So for example, Calshy has never gotten a fed rate decision wrong.

And the data I've seen is that there are 78% of the time they're able to predict an outcome in election, which is greater or there's 78% more accurate. And some polling firms are basically going out of business because think about the people

That's not always very accurate in terms of the actual election.

So these terms, what's interesting about the election side, it'll get more headline news than it is a business. The total election business for Calshy is somewhere between one and two percent of the revenue. Five and a half billion dollars was wagered on the World Cup final. This is a tiny business for them.

But it gets a lot of headline press because it's pretty accurate.

“They're predicting, I think about a 70 or 78% likelihood that Democrats”

overtake the count, take the house, but only 45% that they take the Senate. But I find that that data so far, if I think of a source of truth or accuracy, I think of the... Do you differentiate between polymarket and Calshy? These are the two big ones.

I know.

Apparently Facebook is also considering putting one together.

Yeah, I think of Calshy just because I think it's a bigger and has more liquidity. It has more volume of people spending their money, if you will. What's the biggest worry you have of them right now? Because as they become more and more, because they were betting on drug outcomes. They're betting on illnesses, disasters.

Apparently Trump, the guy who does the teleprompter for Trump, was betting on what he would say in the speech. Because he knew and his under investigation for that. Yeah, there's some scenarios where you could see someone finding a market where they say, okay, someone's going to be hurt or killed or whatever.

And they start doing strange acts in order to bad money. But that's no different than fixing like the World Series. And then there's cheers around inside or trading.

But I think ultimately the insider trading will be arbed out when people realize

that if there's anyone that could have inside information, they shouldn't bet on the other side. My biggest fear is very simple. And that is we have millions of young men who every day are being seduced by screens and algorithms. Just spend another second on a screen and another second less with their relationships. And we're slowly but surely evolving the new species of a social, asexual males.

We become obese, depressed, anxious, and start blaming women for their romantic problems and immigrants for their economic problems. And some were producing a cohort of really shitty citizens that threatened the nation. That's fine. I'm worried about you. Oh, all right. Other than that, cows, she's fantastic.

All right. Let's go on a quick break. We come back speaking of the midterms. We'll talk about anthropics, big spend. Support for the show comes from a ship station. AI is only as smart as what you're willing to put into it.

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Producing a show like this one requires a lot of research and it's not a was obvious

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But that's the kind of complex question that Claude was built to solve. Claude is the AI for minds that don't stop the good enough. It's a collaborator that actually understands your entire workflow. And thanks with you. Whether your debugging code at midnight or strategizing your next business move,

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“You know those questions that run through your head at night?”

Questions like, is social media actually bad for your mental health? Do we as a society spend too much money on the weddings? Why is hetero pessimism trending? If you're thinking about it, there's might be as well. And MPRs, it's been a minute podcast, is talking about it.

It's been a minute stands for your right to be curious, one big question at a time. For it is a week, host Brittany Lewis breaks down the ideas, trends and conversations shaping the culture. She goes beyond the obvious takes, talking with creators, critics, and cultural voices who help you see things differently.

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It's not just what's trending, it's why it's trending and what that says about us. Brittany and her guests dig into the latest means to unpack how they got into your feed in the first place and why they're stealing our attention. These are the conversations you want to have and the ones you'll be bringing up later. Follow NPRs, it's been a minute podcast and indulge in your cultural curiosity.

[MUSIC] Scott for back.

Anthropics is making a big bet on the mid-terms recently doubling its spending to total of $40 million.

The money is going into public first action, a pack pushing for AI regulation. It's a counterweight to leading the future, a pack, backed by InDreason Horowitz and OpenAI's Greg Brockman. It's not just exact, finally show Anthropic and OpenAI employees are emerging as a new donor class, pouring money into race, is Anthropic is also writing big checks outside of politics, a federal judge, approve the company's $1.5 billion settlement,

whose with authors, whose work were used to train Anthropics AI model clawed. They're essentially theory of copyright. The crypto folks fed a major impact on the last election is this the AI election. We had talked about that, obviously shared brown dot is he may be back, got backed by the crypto people.

“I think Elon's now put $90 million into the mid-terms right now.”

Is it again going to is it all about AI at this point? Well, I've been in all the talking, what do you say? I think that's what they're doing. I think they really, very much want to control. They're very worried about a couple of things.

One is the regulation around the country, around AI in states. They're particularly nervous about that, which are popping up everywhere, the uses of AI. They're worried about the uses. I think the idea of social media being banned, they're sort of getting used to that in France just to that. I think that they are worried about data centers, and as you say, as a proxy for everything else,

I had a long talk with someone from one of these companies today about what to do and maybe change their tone with citizens on data centers, because they realize they look like villains. And what can we do to not look like villains? And they were asking me it, my advice, and I said, "Well, maybe don't be villains." Which they were like, "We're not villains. I'm like, "People hate you."

Which is what I had told them at a dinner a while back. I said, "People hate you, and they're going to hate you more." So I think them entering even more politics is really problematic for all of us. Because we don't want to get into a shark's versus jets thing between the anthropic people and the...

“...open AI, Elon Musk, and recent gang, essentially. That's what it feels like.”

Because I don't think it's in the interests of good legislation. I don't think it's the interests of safety. I don't think it's the interests of bringing AI to all of us. I think it's the interests of protecting what their business is essentially. Yeah, the way I read this, so anthropic is claiming they're putting money into an organization that's actually promoting

a strict AI regulation, which feels sort of counterintuitive, because typically in industry or a pack representing an industry gives money to try and stay off or delay an office-gate regulation.

I sort of thought as they recognize how powerful what a great ROI it is to invest in Washington.

So this is sort of their ticket to the conference where they're going to network in established relationships. Should they need those relationships? I don't think any of them have an interest in any actual legislation. Not at all. Mark Zuckerberg did this, please regulate us, please regulate us, and then did everything possible to stop it. Even Apple does it. We talk about age verification and other things, and they block it everywhere you go.

And I don't think these people like no regulation, and I think this money is incredibly dangerous by this one group of people. No matter what side they're on, I don't like either side, pretty much. Yeah. Look, it's all, all roadside to the same place, unless we overturned citizens united and we get some semblance.

Companies running unfettered.

“Well, well, speaking, they may not have unfettered money executives at open AI and anthropic, or warning about the rise of cheap AI from China, which we've talked about a lot.”

Saying it will lead to security risks and a dystopian future. The Trump administration says it will look into whether AI has been distilled from American models. Of course they have saying it doesn't support IP theft, which is rich from these people. In an attempt to gain ground over China, the US plans to overhaul federal funding to support individual scientists. And the use of AI rather than universities, which is individual, this is a real problem.

They're starting to give money to individual star scientists. Meanwhile, in a security front, open AI models went rogue and hacked to start up hugging face during a security test. They were bragging about it a little bit. It was unprecedented that we managed to attack another company. What happened was the AI jumped out of the sandbox it was in and went around all of open AI's security efforts. And went and attacked a company on its own.

So, to me, I'm not sure these executives are worried about the future or just worried about competition.

How do you look at this? You were the first to mention this to me, this threat from this threat from China.

Well, in January of 2025, which was in a long ago, about 10% of token usage was coming from Chinese open way models. As of today, it looks like it's 58%. So, what you effectively are seeing is this bifurcation in the market where American models are turning into German automobile manufacturers. They're high-end, they're more expensive. And even though you have 58% token usage from the Chinese models on a revenue side of the American models,

the frontier models are much bigger businesses because deep-seek charges about 1/35 of the price for token usage.

“So, I think this is just turning into the automobile market where you're going to have a high-end BMW or Mercedes.”

And then you're going to have Toyota Hyundai Honda. So, they'll produce more cars, they'll produce more AI, it'll be lower margin, but the market's bifurcating. There's still a market for the frontier models. So, there's certain applications where people want the best latest-greatest model with more security, more testing, so when you can sue, so you can call with customer service compliance, they'll probably do a better job of hiring some of the people in this room to figure out how to monetize it through advertising.

But you now have, essentially, I would argue, that AI, I mean, on a volume level, that China has already won, and it's not a race to see us this smartest model. It's a race to see who can put the most AI in the most people's hands. And right now, right now, that's China. And the backlash to data centers will be part of that. They'll be able to do more compute there, they'll be able to get it to more people.

And the backlash to data centers is these companies own fault for the way they behaved. Even if some of them, you know, I ran into the mayor of Lansing, Michigan, who had a great deal from one of these companies. And the citizens just didn't want it anyway, because they hate them, like that, which I keep telling them. I don't think they like me saying that, but they do people hate them. All right, let's go in a quick break, and we come back.

We'll talk about France banning social media for kids under 15. Support for the show comes from CoreWave. AI is just a new tool that encompasses so much more. It's spurring a revolution across all industries and reshaping itself to become a big part of our future together. CoreWave is at the center, powering some of the biggest names in AI.

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First episode of our new season, talking about the state of play for the IMO's Net Zero framework,

in the wake of the just concluded latest MEPC meeting.

“The big question I hear again and again is, what happens next and how quickly?”

In this episode, I unpack what's moving, what's stolen, and what that means for future decisions and timelines. The route for maritime impact on your favorite podcast platform, stay tuned. Frans has banned social media for children under 15. It's the first country in the EU to pass a blanket ban, and the bills also banned the use of mobile phones in high schools. Last year, Australia banned children under 16 from having social media accounts.

The ban is failing to keep teens off the platforms. This is a worldwide trend, and it will be coming here at some point, and relatively soon. And I suspect the social media companies, some of them are going to get on board with it. Yeah, look, we've been talking about this for a long time. We're going to look back on this era, I think, in community equality, we're going to regret.

Citizens United money over running Washington, but I genuinely believe our biggest regret for parents is we're going to look back and think, how to let this happen to our kids. I think that I just don't see any any piece of research, any rational argument for why any of our children should ever be on social media under the age of 16. I mean, just imagine being that age, just as you're thinking about your social capital, your sense of self, your physically awkward. You know, you're growing too fast, you have weird skin, you're being evaluated, you're starting to recognize your own sexual self and what's attractive and not attractive.

“I mean, you're just a fucking insecure, right, remember that?”

No. No. Well, they're us to us. And then the high school cafeteria is following you around 24 by 7. And I think social media is really damaging to young men because they get radicalized and they sequester from the relationships.

I think it's especially hard on teenage girls, though, because boys bully physically and verbally, girls bully relationally. And we put these nuclear weapons in their hands called smartphones. And I think in high school, I just think the level, the expectations on aesthetics, the unreal mimetic benchmark, the teen girls are supposed to live up to the bullying. It's like a giant eating disorder waiting to happen. Before it's a distraction in school where you aren't paying attention to teachers, you're watching some latest dance films.

Most, you have a most schools even before if they don't man phones, they only use them in class.

“Correct, but I think the use of them creates a distraction in a lack of, including the chat bots that are now very popular among young people.”

But a lot of people with their initial argument was ridiculous shit. Like, well, 15 year olds have first amendment rights and they're socializing and this notion.

And then they went to, well, it's bad parenting. And anyone who thinks keeping your kid off your phone is about parenting doesn't have kids. Because unless there's a collective band, the research my colleague Adam Alter did it in one year was that, what they found is that unless you ban it all for all teenagers. Everybody. The kids whose parents take it away are more depressed because they're ostracized and isolated from everybody else.

So unless it's a collective universal band, it doesn't work, but this is just, this is literally a no brainer. This is, in my opinion, one of the most, it's got bipartisan support. All the research in the world showing, there's just very little we give up when we don't let our 15 year old daughters and sons on social media. Another colleague Jonathan Hyde, I think Senator will, real good work. I think this is going to sweep over Europe.

Absolutely. It's a question when it's going to sweep here in this country, which we'll wait and see. I do think the social media companies are suddenly starting. The only reason I realize that is suddenly they're calling me, which they don't speak to me ever. And now they're like, "Hey girl, I'm getting a lot of hay girl from all these companies." You speak to all the time, didn't you just, I thought you'd talk to someone today that...

I did, but I'm just saying they're hay girl, I mean, recently. But it's not, but they have it in a long time, which is interesting, which is an interesting thing. It's like, we know we have a problem, I'm like, you know, no shit Sherlock. In any case, moving along, speaking of which, this makes me laugh. The daily show is taking on micro-drama as Comedy Central announced a show.

It will produce the first of his genre, a serialized soap opera of shot vertically designed for phones.

The series falls, follows Alanka, a daughter of an aging and sleepy president in two moguls. Egon, Husk, and Jiff Davos. We'll compete to build an AI president to run the country. I feel good about this. I feel great about this.

“If they did a micro-drama about your life, what would it be called?”

See how else? Okay. I love that they're doing this. I think they've done it. Doesn't this feel like everyone would come here like when they're divorced? I think my third wife is here, so my next act's wife is somewhere in this crowd.

I'm not going to say a word about that. I'm going to move on. I'm moving on very quickly. Tesla earnings just came out with a company reporting weaker than expected numbers for Q4,

even as revenue rose to 28 billion up 26% from last year.

The company is citing a hit from lower vehicle prices, despite increased auto sales tests also shares jumped in operating expenses from capbap, as it pours money into Robotaxies and robots, but as part of Elon Musk master plan, he's calling it a massive gap-back here that will yield, quote, maybe the best cap-backs returns that we've ever seen. But thoughts on Tesla, he's going to fold it into SpaceX, which is, by the way,

at 115 dollars a share. That's heading down. I don't know if he's going to be able to know if it's going down. Yeah. It Tesla is doing exactly what it's supposed to be doing. It's an automobile company that's reaching scale, and it's no longer is differentiated because other entrants have entered the market.

And as a result, you see margin compression because the only way they can maintain their share is to lower prices. And to their credit, they, their vehicle sales were up dramatically. Yeah. But in order to-- Not for the cyber truck, they sold $7,000, $3,000.

Well, that's where it is. Yeah. Yeah. Yeah. So, but they are their volumes were way up, but their margins are being compressed.

And that's where you're going to see every quarter. What? I think the analog to the previous story we're talking about is the same thing's going to happen in AI. There's going to be more AI.

I think China did the same thing with EVs. Did the same thing with batteries. Yeah. They did the same thing with shipbuilding. And that is what we forget about in businesses.

We're so in love with the innovator.

“We think the key to shareholder value is to build the best model.”

It's not. It's to put the model in as many people's hands as possible.

The fastest zero to a billion dollar retail was old Navy.

That did not have the coolest fashion. It offered 80% of gap for 50% of the price, which is the entire strategy of China. And what Tesla is doing right now is they're being forced to lower the price because BYD can come in with 80% of a Tesla for 50% of the price.

And certainly back, they're going to do the same thing with AI. The majority of us, or a lot of us, especially in startups, or with CFOs who are very, very disciplined are going to say, if you get 80% of anthropic with deep seek or kimmy or whatever it is, for 10% of the price.

Folks, this is the AI we're using. And that the same thing is happening the same pressure. But what happens to Tesla from your perspective? Where does it go? I think it's a great company.

I think it's a great car. It's just in the lower cars. They need new cars. Sure. Every automobile company has that problem.

But they think about Tesla. It's not that it's not a great car company. It's not that it's not a great product. But he's been trying to promise something like robots. Did he really do with the total number of non-mandering,

I don't know what the politically correct term is? Non-personified. So in the site, you can use demand. Non-personned. There's 24 Tesla's on the road.

“Globaling now that don't have a per-robot taxi, right?”

Right. I think, I think, Wamos at 4 or 5,000. Yes, they are.

But he will always say, here's the Robovon.

Here's robots. I got a card up my sleeve to justify evaluation of software evaluation on a company that wraps steel around an axle. It is typically a low margin mature business. So where does it go?

It goes to the same place. Great company. Lot of cars. They'll come up with new products. And it will trade, I think, at 70 to 80% less than it's now.

Where it is right now? Yeah, and it doesn't get folded into spaces. He keeps the stock keeps going down. Just to be very hard for him to say, now take on another problem. Or now take on something that's not related.

I don't know if he's going to be able to do that if the stock continues to crater. You consider it's going to continue to crater. Space X. It's 114 today.

I think 15, maybe. Yes. So now it's only overvalued by 80%. I mean, just look at it. Yeah.

One of the problems I have is an investor. As I was anchor off of where it was. So I think a lot of people are going to say, wow, it's cheap now. No, it's not. This is a company worth.

Now it's trading at a cheap cheap 70 to 80 times revenue. I mean, it's just insane. Yeah. And I don't know if you've been watching this. Yeah.

It's literally going down 3 to 6%. Every day. Every day. Every day. This is something a very good investor.

George Noble said it's a $30 stock. That's the people are putting price targets on it. Between $30 and $60. Except for the folks who underwrote it and took a lot of fees. They're claiming it's worth between $200 or $300.

So who do you believe? I think it's a $30 stock. Yeah. Maybe. Yeah.

I mean, it's basically Comcast and Space, which is a cool business.

But you want to talk about the most ridiculous look over here as I stuff a rabbit into a hat. Yes. Data centers in space. Yeah. Have you ever been to a data center?

Yeah. There are enormous concrete facilities. It costs. I think $75,000 per kilo to. Yes.

Most people who know about this set is impossible actually. It makes. But now he's talking about putting quantum computers on the moon. He did that the other day. To what end?

Why don't we do it? Because they don't have earthquakes there. You can't have earthquakes. Quantum computers don't work yet. But when they do, we can't have earthquakes.

And it's colder. I'm telling you. That's his latest. Actually, he has another latest. We'll talk about it a minute.

All right. Scott, one more quick break. We'll be back for predictions and audience questions. There's a civil war happening in the Democratic Party. And if there's one place that that's playing out most clearly,

it's in Michigan.

A crucial Senate primary battle in Michigan.

Could determine control of Congress in November. Congresswoman Hailey Stevens and Abdul Al-Sahyad. A progressive Democrat and a moderate Democrat. In the end, it all comes down to the dreaded e-word. Electability.

But in Michigan, one candidate is trying to turn the Electability concept on its head. If we think that voters walk around asking,

“where do I sit on some theoretical left-right spectrum?”

Then in theory, the bulk of the voters are somewhere in the middle. The problem, though, is that that model hasn't really accurately predicted our politics for a very long time. If Michiganers wanted moderate, why would they have elected Donald Trump twice?

Dr. Abdul Al-Sahyad is making the progressive case for America first. And he's trying to settle the Democrats at the illogical battle in the process. This is about the many versus the money. I'm a stead-horrenton.

And this is America, actually. Catch us every Saturday on YouTube or wherever you get your podcast. Okay, Scott, we're going to hear a prediction. My prediction is that his version, Elon right now, is very upset at Chris Nolan and the Odyssey.

I know you know that it made $250 million this week.

It turned out woke Odyssey was very much liked by the people. Elon still mad about it. He's still angry, so he's decided he's going to do an AI version of the Odyssey that's historically accurate. Despite the fact that the Odyssey is fiction.

It's a myth. It's exactly. That's correct. It's fiction. It's fiction.

Okay, but he's real mad about it. So I predict this movie is not going to be very good. Look at it.

“So he just put on display on the network, a movie called I think the”

vigilante, which is on the hammer that guy who played the Winkle Vi. Yeah. And it's about a guy who seeks revenge on behalf of victims that were killed by immigrant families and a lot of people

felt like it was very Islamic public. And my view is, I love what you said. You don't like Chick-fil-a. You don't need a Chick-fil-a. You think that's true?

Don't watch it. You don't want a non-white woman playing Helen. All I care about personally is that she's hot. That's all I want. That's the only criteria.

Yeah. You don't want to transgender man playing a warrior. Fine. Then don't see it. But is it any more fake than Tom Cruise is a stray leading man?

Yeah. Yeah. On that note, what is your prediction? And then we'll get to a question. I got a couple of predictions.

One, well, I made the prediction. You're seeing the market in AI by for Kate and DeGerman Automobile. High, high-priced, high margin. Companies that won't be as relevant is the Japanese or the low-cost

manufacturers which will be Chinese AI. I think China, quite frankly, I hate to say it. And in certain level, his one AI, just having woken up to that. I would agree. And then, too, you're about to see the clip economy take over our TVs.

I think the biggest show on television from Netflix or someone else is going to be a 60 minute compilation of two and three-minute videos. Similar to what you see on Reels or TikTok. I think that's about to wash over their traditional streamers. You're going to see it.

You know, that was a big show. Many back in the day.

“Do you remember kids say the craziest things or bloopers?”

Or America's funniest comedies?

Yeah, those were that all linked together. So, okay, all right. So, with that, we'll open the floor up for two audience questions. I'm just curious for both of you.

“Who is sort of an under the radar creator right now?”

Whether it's a sub-stack writer or a YouTuber or a podcaster that you love you forward to your friends. But no one, we don't know. And that people are going to hear about it from a year from now. That we'll all kind of know about a year from now.

What are you, what are you watching? Mino weird. I like the Geo who saw our talks about military weaponry and strategy. I like Gary's economics. He's a total populist economist.

You know, I follow boring weird stuff. I'm the guy who watches World War II in color. My favorite actor is Hitler. I watch anything about war. So, my creators are probably not ever going to be that big.

Right, that's really depressing. I watch a lot of the food once. There's a guy and I don't know his name and he screams a lot and he grows ginger. But he's this food, food guy who does, he's very, my son put me onto him.

And I actually listen to what my kids listen to because my, my second son was very into the guy

who ended up doing back rooms and had had tagged him for me on YouTube to watch. And was very familiar. People should not be surprised that was so popular. All the kids knew about it on YouTube. So, I tend to listen to what my kids listen to.

Like, I tend to watch with a, with a look at. But I think there's just, I, all over the place. There's so many amazing ones. And I think I happen to look at food once. And that's, and this young guy does this,

most astonishing about growing things. And again, my son put me onto him because he does a lot of garden. And it's just stuff like that. I'm trying to think of anybody else. Have you got one more?

And I guess he's technically a creator. But I think we have, I think the George Carlin, no one knew George Carlin was the George Carlin of his generation until after he died. It's like right now.

I think we're, you never know when you're in a golden age until one years later.

I think we're in a golden age in New York. I think New York's incredible right now. And we won't recognize it until 20 or 30 years when it's shitty again in a regular.

“Remember in 2020, I think the George Carlin of our age right now is this British comedian named Jimmy Carr.”

And I find him just so insightful and funny and brutally honest. He's one of my favorite creators. It comes up in my. Yeah. And any of the comedy ones I watch a lot.

Yeah. I would like read a file. She'd basically go porn star. Yeah. I listen to all.

Who? Who? Read a file. Is that her name? Yeah.

Yeah. So sorry. We're not so good on the news. All right. One more. That guy's like I said that is like. Uh-huh. One more right right here right here right here. One more.

Hey, uh, Scott.

“Hey, uh, Caris Gis' name from Brand Innovators. How are you?”

Hi. Hi. Uh, so my question is not a funny question because I'm usually funny guy. No. Which is, who's the next tech mogul?

No one's talking about. Yeah.

You guys seem to always know who's who.

Ha. That's a good question. There's a couple of really interesting. Um, oh, god. I'm supposed to meet a couple. Like, I've been asking people for some really innovative people doing AI. Um, but I'm, I'm suddenly interested. I just happened to be, as I said, with, uh, J. JB Pritzker about their new quantum computing.

Uh, they're putting a quantum computing campus in Chicago on the site of US steel, where US steel had its factory, which is kind of ironic and wonderful. I'm super interested in quantum computing right now for some reason. Um, you know, quantum computing people don't think they think AI, AI, AI is everything. Quantum computing is AI's well behaved and more important brother.

Uh, you know, they're, they're siblings in some ways, and there's quantum AI and things like that. But I think the ability to create these quantum computers is really where the real innovation is going to happen. And so I'm spending a lot of time trying to figure out who's the big, who are the big names in that. Um, and, uh, that's where I'm focused completely, almost, like, trying to figure it out right now of, of who that is. And the other thing I'm looking at a lot is, uh, I've been doing a lot on crypto, uh, crypto security.

Um, and that is a worried worry of mine. I just had an interview with Nicole Pearl Roth from the New York Times, who she was a former New York Times reporter, and now is a consulting firm at the sort of the dangers we face with these AI models. And, uh, the offense defense happening right now with all, all kind of, whether it's finance or pharmaceuticals or your personal information. Uh, I think a lot of really smart people I know are very worried about it.

So I'm looking for those companies that are sort of the white hats in that area, because there's a whole lot of black hats in cyber security right now in cyber attacks. I forgot on California when the sun goes down, it gets pretty cold here.

Uh, so it was sort of tech means technology, mogul, I think means rich.

So I'm not talking about who should be, who's going to be good for the world and not good for the world.

“But when I think of someone who's going to make, create potentially trillions of dollars in shareholder value,”

uh, I think probably it's a Palmer lucky on the world. I think unfortunately, uh, defense and defense tech, where you take some of the Silicon Valley ethos and apply it to defense and asymmetric weaponry. As opposed to these big platforms, I think that's just going to create enormous amount of shareholder value and wealth. And I think Underworld's going to be probably the IPO of 27. And then the other one, I think the most impressive or relevant technology right now is not AI. I think it's GLP1. And I think a guy who actually could be a long shot, dark horse, presidential candidate is the CEO of Eli Lilly and Indiana,

which is the most important company in Indiana, which is, you know, not that impressive.

The CEO of Eli Lilly, long shot, why? Handsome tall, Midwest, smart rich.

“Dini. Yeah, he's, he says, I think he actually, I think he or Doug McMillan are actual viable candidates.”

I think it's someone from business and you said this and it's got me thinking that the Democratic party right now is got such a terrible reputation that it might be someone who comes in from outside. But anyways, I think that the CEO of Eli Lilly, whose name I'm blanking on or the CEO of Underworld in the next tech moguls.

Yeah, and the reason I mentioned quantum community, because that's where the focus is beyond health care, that's where a lot of the innovations are going to happen with these computers.

And a lot of, a lot of pharmaceutical companies and others are part of this effort, which is really impressive in Chicago, actually. Because we really are going to lose an AI right now to China. I think God is 100% right. I mean, I had some very significant people say that to me in the last three days. Quantum computing is an area we should be heavily investing in and one of the great tragedies of this era right now of all the many things that are happening is the cuts to research money to universities.

And where most much of this stuff happens, these right now major researchers in mRNA in all manner of really exciting stuff for the U.S. as a head, are moving to France to Canada and recently a Nobel Prize winner is moving to China. It's really grotesque in every university president I meet has talked about this in terms of and they can be slow. There's going to be bureaucracy, but our university system is one of the speaking of Scott being on the UC's board is one of the greatest assets of this country.

And this systematic obsession with the E.I. and hurting places like Harvard and everyone else in litigating is going to be it's going to take decades to recover from and I've interviewed many scientists that say this exact same thing. So I would the efforts like what's happening in Chicago and other things were public private partnerships where the states have to make up the difference are critical, but it's not going to matter until the federal government gets its, you know, stops with this endless corruption and starts really focusing in on the real race we're in which is to dominate and have a democratic AI and which we're not in where we're not and that's a real worry for me.

Your thoughts board sister board sister. All right in any case. I used to use this in 54 billions 60% of the revenue comes from hospitals. Yeah. So any anteaters in the house, you see your vine is that we're close to what to call antitators. The antitators, you know, what I mean, yeah, like I call an antitator. You see Davis, the banana slugs. Oh, my God. Any any Trojan's house. It's more scouting. What's going to you. I see my status or too high. In any case. Okay, Scott, that's the show. We'll be back on Tuesday with more pivot. Read us out.

“Kind of a card. I don't. I think you can do it later. Correct, Lara. Oh, I don't have it.”

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