In conversation with Mark Cuban
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Aren't everybody welcome to the number one podcast in the world? Here we are in the all in podcast. We have a fifth busy with us today, joining David, free birch, mop, pop, p tia, David's axy. Myself is the one in the only mark and I do anybody. What's up, guys?

I'm doing great. Thanks for help me on.

of course. Of course. Thank you.

I ve been practiced in my virtue signals, so i'm ready.

I think we're going to twice .

of virtue signal .

is Normal double. I'll say you do anybody.

We can give.

We open sources to the fans .

and just got crazy.

You have gone very vocal about politics during this cycle, and you seem to be I don't know, it's official. You are speaking on behalf of the koala ticket. So why why are you this active? What what is the reason that you've decided to get this active during this election?

Because i'm proud to be an american. That's exactly why I mean, you know, we all make choices and think what's best for the country and show patric sm in different ways in not a democrats.

i'm not a republican, i'm an independent oh, is IT that all the democrats are afraid to call himself democrats?

Look, i've said many, many times if if he was no trump running, IT was non mega candidate, even if IT was joe biden, still, I vote republican. I voted republican before if he was a non maga candidate versus calmly, Harris IT would be no. Let's look at the policies that, look at the character of the people involved, and let's make a decision.

It's it's just don trump is not a republican. Republicans are Donald trump. You know, the republican party is now the family business for Donald trump. And to me, I just think calmly, Harris, a Better choice for the country.

The percentage basis how often have you voted just a level that democrats vers republican which .

just say out of ten elections presidential probably I voted for George w twice, then I voted for um obama twice and then I voted for on clinton and biden but before that I voted for um rush o junior my first vote was for a guy name um something um john Anderson. So I mean I literally worked on ross pro juniors campaign way back when .

tell us about that. That's fascinating. He got nineteen percent of the vote as an independent candidate.

Yeah, I was living out now, and this was ninety two. And this when computers were relatively knew, I sold my company. And I was taking that class and just living by manhattan vision and just love in life.

And you been from texas, I knew people there and they were like, look, we need somebody who understands and computers and software, can you help us and I was like, definitely um I mean, I wasn't to the point where I was involved in his decisions, but I actually had met him. Um my first company was company called micros lutely where we did system innovation local and wider y network. I wrote software for new single multiuser APP wider y network gaps and we literally helped throw systems um get into local wider ary networking.

And so you know one of my favorite stories from back then is, you know, i'm terrified on the twenty six year old kid. I mean, dallas, i'm going into pro systems. I get to meet ross pro senior, the main and right and I walked through and he's got the original the the model for the um no yet the original mag the card to one of like the thirteen maggard is and he had the original um model for the eugena um stati right with the flag up and everything and i'm just terrified i'm going a trip and just wipe ought american history and when I walk up to him I said, hi mister cupid.

And verse, yeah you know it's .

so nervous um and he like made fun of IT and we know got to be friends and did a lot of business help those guys a lot. I made them a lot of money. There may be a lot of money.

Did you have any more interactions with them when you are on the campaign?

Did you get a sense? No, I just a little pleb, just trying to do little plebe stuff in L. A.

I didn't know that you took acting classes as interesting. Did you want to be an actor before .

a businessman or what? No, no, no. This is I D microsoft. About a lifetime pass on american airlines. Moved to L A.

Got a place right and man at beach, um right on the beach. Get two flight attendance as roommates. And I was just love in life.

I was like, how else can I meet women? I'm going to take acting classes. And he was like, one of the best things, one, the best things i've ever done. Because, you know, being a business guy, you is always right brain, right brain, right brain. And acting is like don't think just be, don't think just be, just let her go. So IT was a totally different experience and that's why you seem to do all these cabos and stuff um because I like to do IT because it's the one place where you just have to completely let go and it's completely different approach to life. So you know, little back story.

yeah, you got a good character gone on so I think that was probably .

the best one plus.

Yee, yeah yeah yeah yeah that that was pretty memorable. So, uh, sex lead us off here. I don't know if you've been following my cuban on social media at all .

or you guys and I get with this asking so is your um is your acting as a surgit for a company? Is that acting too?

Actually 哇哦 we .

make a live， we make a love, we go high.

Obviously actually believe in IT and look is always relative. It's always relative to the other candidate. Um and so obviously, if you guys know i'm not a big fan of downdraft P I game. A shot eight years ago didn't work out o OK week.

Get into this because I you obviously have like a love hate relation with trump going back twenty seven years. So let us go through the the the time mine here and just before.

I don't hate that if he was running for president and we all got together and you know just shot this like we are now he's fun to talk to you know he's got chroma, he's got personality. He's easy to like, I mean, you know he's used to smoothin. He's one of the world's best smoothes and so he's easy to get along with. Its not personal but that doesn't mean like you guys with each other IT doesn't mean you can you know as different things happen over time, you can go back and forth and you know he did the same thing so the whole history of IT was back um right when um we went public at broadcast dot com. No right after we announced the sale in two thousand um was two thousand yeah after we have to sell and january two thousand, he threw a super bowl party at maroo go and one of my buddies who um knew him invited me and was like cool logo marlowe had seen IT downstream maybe me so you know you guys i've seen my logo on a beautiful poll, beautiful b bw. There's a brand up there and like a bunch of um booters and um what's the suntan lotion that always had girls, what .

but .

tropics, the dressing s and they are walking around and just like a big deal and IT was funny a sale. And so not that that's a bad thing. That was actually kind of entertainment. And um so he comes up to me and i'm with the um V P of VISA my body and Jerry and I think that was maybe wasn't .

Jerry but of .

yao yeah go founder yao and um he was like, hey guys, nice to meet you and I I K and IT just you know not to be mean just in a flip and way he was like, hey, someday you'll be able to sit up there with the rich people point into the rinda what the way I like. Okay fine you know whatever and so um then um not long after that, through my friend, he got back in touch with me and you know this is the early days of the internet, early two thousands and um still I guess to still two thousand and um I get an invitation to go to um his office in thump towers and like this is cool course and you know he wants to talk to me about the business not like you know what that i'll help you all I can you know get in Donald trump dot com and he wants to sell charge keys and merchandise I guess some things never change on and so you so i'm and they're trying to tell me about what you can can sell online and what works and that was all find a good metaphor a IT was all really but is the one thing that left me if you've ever been or seen pictures of his office, every inch of his office is covered with pictures of him. Every single inch of the office .

celebrity is is right so like.

yeah yeah know whatever covers he was on and just whatever right I just remember walking through there and afterwards you know IT was IT was a nice meeting and we had some follow up calls and everything, but I never went anywhere in terms of the online stuff. But I just remember thinking myself, if I ever become, you know, visible or famous, you know, to that level, don't let me get so kind of and just having pictures of myself and you know i'd had conversations with my buddies about IT just like you know you guys would so then in two thousand four um I got a chance to do a show called the benefactor A, B, C.

All me and said, so let's show this this this was got tweet so if .

you do apple.

if you did apple research sex, you get .

upper research is on .

to everyone on on on twitter .

they throw up so anyway so when I got the gig um he was like, congratulations, good luck and everything I was like thank you and whatever and then when I got cancelled he sent me that letter basically saying .

you saw and so well he was was dancing on the grave of your show but so you're saying you don't have beef .

with with him before that letter or a beef that was just that's what IT was and so I was just like, okay whatever and um okay but then .

when he ran into thousand sixteen and you were supportive, can we show that? Let's show that two thousand sixteen. So sorry OK okay so that's two .

thousand four, two thousand seven um eric reaches out to me and go there's no hard feelings of my dad or anything you like. No I don't care because we're working with um this russian M A fighters this kind of fator a millian KO who was like one of the best ever at that point time. And josh berk, and kind of the irony of all this is we were competing with dinner dinner White and the U F C.

In some respects because a lot of fighters felt like they weren't getting paid enough. There was no health care. There was no nothing, right? And so I had A T V network.

We had started the first all high definition T V network called H D. Net back in two thousand. And back when TV cost twenty thousand dollars, and everybody thought we were idiots.

But slowly but surely, IT was taking off and so they came to me and said we'd like to put um we're partners with these guys were putting on this M A may fight on with fatal and josh, bert and some other folks and we'd like to broader on on H D. Net because we had a show called on this weekend, M M. A. So we were promoting, we had fights that we were already putting on every friday night. So IT actually was a good thing.

So you see pictures of me sitting with them and actually, and I couldn't find IT was so peace because I was going to put them some more um what he said in the end, you know, during the time we were sitting at that podium was everything mark cuban touches turns to gold and so I was like that would have been so great to to help out them and so in anyway. So we're friends again and so two thousand and seven and we're friends and nothing happens between then until whenever he started going crazy on twitter and um all the obama stuff and everything and the birth certificate and the birth birth stuff. So he's on twitter and he started with me.

I shame that so let me just preface this by saying I got once in my life in one thousand nine hundred eighty nine and I hated IT so bad I was thrown clubs because I want to really super competitive guys I might never again but I went and work um I also off myself to be a catty at a golf tournament that he also was at but he starts twisting that I saw mark cuban and he swings like a girl and this and that he swing is like a girl like nobody saw me swing because I don't golf and so I started to back with him and so we went back and four thousand twitter for years for years and then he comes down the um escalator and twenty fifteen and I might alright this guys got no chance to win um but I think it's great because I don't like traditional politicians. I'm not you know there's nothing about me that things that the way we do politics or the way the government is run is a good thing. Not at all.

I mean I my heart is liberal talian, but I realize you can't libertarian an are not solves or idio logs you know like you look at rain point, everything's only one way he doesn't try to solve problem so anyways um I digress so he comes down i'm like, that's cool, right? He doesn't have a chance to win but my my he's the best thing ever you know you know how you know I cute where I was, but I was like he's the best thing that ever happened to politics is not a politician. He's not going to be a step for candidate.

I may not agree with these positions, but you know, just the fact that he's not a politician is a good thing. And so from there he called me, and we talked a lot, probably ten to fifteen times on the phone he would call me, you know, any tweet. One time mark cuban was tried to come.

I never had, no, there was no way for me to call him right. He know and know the email. He refuses to send an email because he doesn't want any proof of anything he's done, right? And so.

You know, he would write IT up like you had one of those picture. So bringing up the one on the CNN, where says, what happened? So right there CNN nasty.

What happened? See what he does there. His email, he writes on a piece of paper and then someone stands up and send IT as an image, the email and so .

what the audience can understand, so the the email is from you to him saying, told the boss I said congrats on the sweep and then and then his a system printed out and then wrote back to you and like this .

is one of many emails that we went back and forth on.

But just to be just at the weird point, he's literally prints out his emails rights on them, has them stand in and send us an image .

to you mark.

wow. Sorry.

you and CNN .

what he thought to .

you on the piece system prints IT out. He raise IT and he rides on IT SHE scan's IT SHE scanned the sense of be the big question. You can just let that slide. Why do you think he does that?

This is a different generation, least us my interpretation.

No.

absolutely not. No, I would. Mark, don't cause which shading staff guy.

I think you're reaching there obviously as a paper trail if he writes on, if he writes, you want a piece pipe on if I right right now on a posted note, skin and email to you, there's a paper trail no.

no, the chance search for IT and it's not yes, you know yes to your point.

just tell ling .

you he won't send emails at all. He doesn't .

an electronic record. What's the difference you .

have to ask him on that. I gene .

interpretation.

I think I love literally out loud. He doesn't want a paper trap. But anyway, so let's go back. So, so now we're talking back and forth, and we're having legit conversations.

I remember asking him, you know, you realize this president, you're gna have to make decisions where people can die. And he really wouldn't respond. Yeah, I get that.

I get IT. I'm mcDonald. You don't have a ground game.

What are you going to do? How are you going to get through this bit? Yeah, I got the event jell ics doing all that. I'm not word about IT.

I'm like Donald you know and we would I would bring up things about there was this one thing where um the FBI use use this device to break into an iphone and there was a big thing about you know, privacy and I tried to engage him on a conversation on IT and is just like, I don't know, you know just want to talk about that at all that that would happen multiple times where I would try to engage in conversations about some some side of policy and they're just had never got anywhere and there is never a conversation and I said to all I said, there's another email where I said, Donna, at some point you have to learn these things. You literally have to learn these things in order to be president and I didn't respond to that. And that's when I went on CNN and I said, basically, look, I like guy, but he is not learning.

He doesn't make any effort to learn anything. And I think that can Carries until this day because you can't look at things he says and say that's really an in depth response. So that's a new ones response. And so that's what I said on CNN. And that LED to the image guys post.

So that was the following out.

That was the falling out.

Yeah or maybe, but IT wasn't a complete .

all I want me to continue. So it's not a complete falling in out O, K. After that he gets elected. I sent him a congratulatory message um and I say congrats you know um you know if I can never help, i'm happy to.

And so when they were starting to look at replacing the A C, A, I was starting to get into health care and being in excited about health care. And so they advised me to the White house. And I spoke to jared.

I spoke to this woman and book roles. I think her name is um and I spoke to a whole group of people. I went to C M.

S. And I spoke to the ahead of the agency. I spoke to the head of C M. S. All talking about the thing I created called the ten plan, which is uh a means testing ability to support anyway um and so they brought me back in and then when the pandemic IT, I sent him some ideas on you know back stopping um bank accounts and credit card accounts so everybody doesn't just a fald and he had a nutrition call me and then when they had up with pandemic he connecting to be with with Peter novo and I worked with him and actually found the company here in IT actually outside of forth world that um I put together with them and I hope that company increased their output and Peter and viral work with them closely and we you know really made a day and all the P P issues and you know he invited me to the White house and then I went to the White house one time.

Went til the oval office and the pictures be talking and again, I tried to explain the healthcare stuff. He just wasn't having any type of indebt conversation. You want to tell me about how much money he saved on, on, on from boeing? You know, how many billions? And this and that. And then IT was a short conversation.

And then I always leave he goes like, I used to want that show and he goes, I am my god shark talk he goes, yeah that's parents favorite show and then as the further goes way to IT, I really like that suit so you know you know is called me since um now since he left the White hosbrook later and he is ten years at the White house and invited me to dinner. I mean and so it's not like we left bose and it's not like I don't like him. I just don't think he's the best person to be president. I don't think .

he was a good what is trust us that what how would you think about the four years that he was president in hindsight? What what would you say was done well? What would you say was done poorly? Just those two things.

I think the way he dealt with the that guy is not right, or just the vibe of the country was really, really, really bad. I think the hate that he conveyed, I think the fact that what he tweed negatively, you know, so companies didn't know what was coming next, you know, he created negatively about me. He can put negative about other people. I think that was a real bad thing.

When the billion on protests happened and turned into the riots, when they went into minnesota, he was like, when the room, when the looting starts, the shooting starts, says that as a president and so we had more people die during riots during his term, then the by and by a long shot and I think he misrepresented where he stood in terms of being an anti war. If you go back to twenty nineteen um and look at the war and women um there were hundred least one hundred thousand people plus died and there was a bay partisan resolution to say we're not selling any more to the studies. We're not selling any more weapons to the studies and a bay partisan resolution including mark metals and rain paw and others said, you know pass IT and went to his death and he said we're still going to sell these are you unions and this um these weapons to study arabia even though these people continue to die.

So when we talk about is, you know, it's not all that much different than ukraine. And in some respects, only study a rabia have got the glen gary leads, and ukraine got our old stuff, and we relied IT. And so when he talk comes out now and says, look, you know, i'm against all wars. There were no wars that most right? The main street media.

okay. So there are two things there. So just just on the twenty twenty riots, I don't know how you blame trump for the B, L, M. Riots of blame .

the riots, I said, was how dealt with OK .

I get you know like the mean tweet I get I totally get the no.

don't administrate, you don't administer IT just mean tweet. People pay attention what happens and when you are have people whose lives .

I think I think it's far worse to actually have riots going on in the streets. That's what needs to be controlled. And he wanted to send in the national guard to minus. So he was actually walk. Who ject the national guard?

He had no problem. And there were .

plenty of ties between on, there were plenty of ties between democratic activists and the bill organizers of those riots. Ts, time magazine, to my story on that.

I must saying he's a fault that the riots happened.

I just but I can't believe they're using the the riots throughout the twenty twenty argument against trump when he was the thing .

ship that he shows is a Normal character.

Did you do anything right.

mark? T but right, let's go back to .

the foreign icy for a second trauma. T is correct that he did not start any new wars during his presidency. You agree with that right?

Um that no new war started or he didn't start any um he didn't started .

like the first president in twenty years not to start a new war.

Well, he inherited some for sure and inherit .

syrian has going to stand and he wanted to get out and the generals didn't let him and there .

wasn't really a war that happened in turkey. And then when we got shut down, um he didn't know there wasn't .

really award agree .

with that. He did. He did not.

Well, I would argue that biden provoked the proxy war in ukraine. Yes, I mean, you can discard where the provoked or not, but there's no question the U. S. Has been deeply involved in a war with russia in ukraine.

And i'm what i'm saying is the coral r that the analogy to that is what happened in a men and that we had a chance to get out of women and reduce the death. And women, much like they're talking about gaines out of the u, out of ukraine now, and we had the opportunity to stop selling on weapons. But he look the best I could tell.

He looked at that as a sales opportunity to sell A, M, B, S, all these weapons, and he thought that was a positive. So a lot of people died and we're still in there today. So it's not yet a chance to get us out.

And he did not. So i'm not arguing that he's perfect and binds perfect and it's tit for that. IT just is what IT is. I'm just saying at making the statement of fair.

And that, yeah okay. Well, like we did, we did support we did support the saudis and they are war with with yemen.

So and let me give you the one .

last thing and keep going.

So then i'll go to some positive. So the the next thing you can actually trace that yim and war, I I can say you actually i'm i'm little bit high probably, but I can trace that from that yim and war to the start of inflation. 嗯， and here's how I explain that.

And so in amman, he did a deal with for his boy inside arabia a and send them all the weapons in twenty nine just for one year. And your end may, uh, no, April, let's say, of twenty twenty. And you're looking at the Price of gas, the lowest ever been the Price of oil just collapsing.

At one point, people were paying you to take their oil. And so there was an opportunity. He made his decision because there was a situation that came up.

The oil companies came in and said, this Price of oil being so low is killing us, right? We're losing a lot of money. We anticipate losing more because with the pandemic now starting, demand is dropping like iraq.

And so he and that was coming from the oil companies. And so what he did, he said, okay, N, B S, hold me a favor over inside arabia. That's the connection. And who is my boy? I'm going to go to them and ask them to reduce production.

Now what happens to the Price? I guess, when the largest producers of um largest producers of oil and energy decrease their production, the Price going up and up and up. And so you can track the increase in the Price of gas and how that impacted the Price of goods the entire time that the production from the ten percent reduction until they they increased like three hundred thousand barrels a day for two years.

What is your argument here? You're saying that some from cause inflation and .

i'm explained to you, i'm in the mainstream media first.

by the way, that the warning even started on march twenty six, two thousand and fifteen and court ChatGPT, which is under obama. So started your obama.

that's fine, but he had a chance. He was asked to ended by converse. He was that he, we were sending, he was selling six hundred sixty billion hours. I, T, I don't know the number of I I can't remember exactly in weapons to sadi arabia. And he.

the fact that we had nine percent inflation in twenty twenty two, so two years after triple office, how in the world is trump t responsible for that?

Are not buy? So glad you that because the mainstream media never talks about this, and so SHE a little dict. So drop goes in and says, we're going to cut the production by ten percent.

Demand is still relatively low. But you know in April, may, june, as people start venturing outside their house into the end of twenty, twenty, the end of this term, the there is an increase in demand. But the increase in demand the increase in production doesn't match the increase in demand.

They limited as part of this deal that trump put together between um um russia and um saudi arabia ia and um that little of other people in OPEC plus on participating, they only increase the the production of oil by three hundred thousand barrels a day. Didn't keep up with the amount of demand that was happening that started increasing the Price of gas. That Price of gas continue to increase for the two years this program was in place.

This program wasn't like let's just cut IT for sixty days and go back at IT. IT wasn't. Let's just do this for ninety days.

Let's just do this during the tropic administration. No, no, no, no, no. This deal went before they would ve got IT took two years before they would ve got back to prepare demise levels of production.

And so listen to what trump s says about drill, baby drill. Why does he say drill, baby drill will lead to lower costs because oil and energy costs are part of everything. And you know what matches up perfectly? What matches up perfectly is that nine point one percent in twenty twenty two.

And the day that that agreement ended where N. B. S. And russia limited production, that agreement ended IT like this.

You did a little band diagram at like and increase production, decrease production. bam. That is just a question.

I just to summarized what you the argument that you don't like about him is you ve got to know him like many people do. You work with him on projects and like pants bar, matteus tilson, bill bar and Michael and .

the movie .

omarosa, you realized this person is out for themselves. They don't care about the people that work. And you fall out of friendship with him. We were there's a long to people who don't who work with him, who think is in needed and don't like him. Now you're on that list.

Yeah I mean, I don't think is I think .

that's my position. I'm just summarizing IT.

Look, I don't think is your position .

no is one of the greatest sales people ever. He's one of the greatest you know um motivators in terms of crowd motivation ever.

But can I royal .

junior roy junior, that is who he is. If you read books about roy corn, everything roy coin says to do, tracing back to the mccarthy hearings, and fifty four everything roye conlin says to do that, is exactly what .

Donald trump does. I just wanted paint this thing. And then i'd i'd like to hear the glass half full version to the exact have one. But basically I just I just want to understand so my understanding was in twenty twenty, what happened was not that saudi arabian and russia were collaborating to cut Prices, but they got into a fight because he wasn't really IT wasn't really saw dy, but I was at, which includes both hands a versus russia. And we initiated against them, which they counteracted a Price war they.

they initiated again. So sarabia initiated against what?

So what i'm trying to understand this, there is a war yen, right? We don't stop the ornaments of saudi. And I guess what you're saying is that then figured an OPEC.

an old truck one. M, B, S, old trump, one. So M, B, S, start surprise war with russia one year later.

And the oil companies come to Donald and say, look, we're getting destroy. Demand is dropping. They've increased because of this Price for between arabia and russia. Sadi arabia a service to take IT to and increases their production significantly. So in order to keep the revenues up, russia got to do the same thing.

Meanwhile, all the all the demand is dropping because of the pandemic and so Donald gets us by the insurance the um oil companies to go to N B S antiproton and say we need to stop this Price war. We need to reduce production. And to his credit of, if you think that's a positive, two trumps credit, he did IT.

And so by reducing production over a place and of two years, and you can go look at the production numbers, right? And when that start, by doing that, that increase the Price of gas, the Price of oil, the Price of energy. And that was bad for american consumers who utilized pay for gas for their cars, really bad form.

But he decided to work with his oil company bodies and protect them. You can say that is a good decision or bad decision, maybe a strategic, we really, he really felt they could go out of business and he wasn't willing to give them money to help them. But the bottom line was that, that matches up exactly to the nine point one percent that David sax mentions.

IT also matches up, matches up to, okay, does he fully support the oil companies over the Price of gas? And will that influence what he will do as president again? So when he says i'll just get out of ukraine depends on who's making the money and where IT is. When he says i'm to get people to drill, baby drill.

OK learned a hard, like this is very hard to fact check in real time, because i've never heard this story before.

Theory on the pod that I favor, again, a bor has an next question. So let me try point.

The point is that this is like, totally novel. I don't think .

that .

i've heard you .

make the theory on .

x before was you just I .

go ChatGPT and .

go google, go look IT up.

everyone.

okay. What about the fact that .

by first day in office, he cancels the keystone pipeline and a bunch of leases he makes IT harder to drill in the united states, so he produces the ability for domestic producers to produce. You don't think that.

that would have an impact? Yeah, but IT wasn't on the Price. IT wasn't on the Price of gas because is the Price of gas is a global phenomenon, right? The Price of oil, rather, is the global phenomenon, is we we are the largest producer of energy in the world, but we're still only about thirteen percent.

I think IT is don't quote me on that, but that's that's arrange. And so the other eighty seven percent has more an impact. And even to that, there was still an unlimited amount of drilling available on public lands and leases available that weren't fully used. Now that said, I think biden did mistakes.

did make mistakes OK. Just finish one thing before the other. I would just like an answer of what is the good and the bad of down trump and then what I was going to ask you is what was the good and the bad of biden? I .

just want those guys, can I ask, make one comment. Uh, been here for like forty minutes. Um yeah try to be I want to respond to the inflation point, mark.

Know I just share two images. First was the U. S. Crude oil production chart and more than half of the oil is exported.

So you can see the the the reduction in production, but the the domestic oil production capacity remain high relative to our consumption. So U. S. Consumption, if oil was the biggest driver, IT really would have affected the profits of the exporting companies, not necessarily the cost of energy domestically. I will, however, point out that the federal baLanced, the federal reserve baLances swelled during covered from four trillion dollars to eight trillion dollars, actually all know there is significant fiscal stimulus, meaning the first the .

federal government order come David the cause. Well.

I would argue that flooding the world with dollars, which is what the federal reserve did, because they bought up all the bonds as the federal government started to issue money in lots of different ways, cause the supply of dollars to go up, which causes the cost of anything that dollar ominous to grow up.

And I think many economists would argue, make the case that the fiscal policy and the monetary policy of the federal government and the federal reserve is largely to account. I'm going to use the word blame, but to account for the inflation we saw in the cost of everything from energy. To production, to labor, to assets.

and they are not.

But there was also significant, as we can all acknowledge, massive in a dynamic system, global supply chains, or a dynamic system, stuff is made in one place, move to another place when one thing breaks or IT slowed down, IT all breaks. And we had a massive shortfall to move goods around the world. And that was the biggest driver of the inflationary effect that w but even if .

you go back to the the first two charges you put up IT matches up with exactly what I said. Production went down to, man went up. And the net result was that Price of went up and Price of gases and everything is .

that the good production went down in everything, not just energy, but everything, and not because of energy, but because of a lot of other reasons. And then had a White problem where we had over demand relative to the natural, and none of the production systems could keep up with demand of stimulus.

I agree one hundred percent with you all. I'm saying you can try trace IT back to maybe as one percent of the Price, maybe as three percent of the Price, maybe whatever the percentages. I not saying it's exclusive, but you can trace the back to the decision being made to support the energy companies and say we are going to reduce production rather than just letting the market play out and saying we will let gas Prices stay as low as they are based off of supply and demand. Now are do I agree with you that supply change disruption transworld, yes, of course.

and faceand monetary policy, stimulating the world economy, where pouring a on the money out that never happened in history.

right? For sure, a hundred percent. The question is.

you think Larry summers was wrong when in q in the first quarter of the band hair administration, Larry summers warned that if you pass another two trillion of covered stimulus like they're planning to do.

that could set off inflation that we'd on the against his own party, mark and he said, is the wrong thing democrat. He said, this is the wrong thing to do. And they went forward with what they plan to do for various reasons. Some would argue, political somewhat, argue that they thought that was the right thing to do, and the effect was precisely as .

never had predicted.

Yeah, commonest, cast the tie breaking vote for that inflation explosion act. Otherwise the american rest others SE notice the american rescue plan.

Actually, I I agree .

with you with before the cause of .

this massive twenty percent inflation we've had over a baLance four years is a secret deal between trump yes, and my coins in there .

somewhere you can dismiss that all you want. David.

just look at the data .

and look at the numbers and they match up about the free birds point. The free birds point is that the only thing that cause inflation, of course not when you spend too much money, when you inflate the economy, when you have supplies, train, change, disruption, all those things contribute.

But we are also not having the conversation to say, okay, I how much of the supply change disruption contributed to inflation? Was three percent of that twenty percent, was a five percent, was seven percent, was one percent? We don't know. It's impossible .

to supply the supply on the supply chain was constrained to and cove IT and I was healing IT was getting Better .

and then they pumped all the stimulus.

Never got ion. Let's leave the opinion. I'm just really curious. I just want the high level report card on the last two president. What is the high level report Carried .

to put a cap on this just for the audience? Here is our national debt over the two presidencies, the two terms. And as you can see with the taking out the bump for cove IT, it's pretty much of their both wild spenders.

I think we can all agree they bolder, spending too much money, and we need them more fiscal discipline. We all agree on that. Now, to chouse point, is still men a anything you like about the trump presidency? And they will go to come?

I mean, I think there is good ways of the tax cut. I think he went too far, but I think they needed to come down from thirty five percent. What whatever the corporate rate, thirty five percent I think was corporate.

That was too expensive. That made is difficult for us to compete globally. I thought twenty ARM, and I thought bringing down cap gains um I can I forget exactly what they were maybe twenty nine years I forget was also smart but I think he went too far.

But you can argue that there's no right answer on what that is going to be. It's a guess, right? You just put IT out there and you hope what you put, what you plan and what you propose and what is implement IT works and you don't know until IT does. So I did I didn't have a problem trying that. Yeah thirty five .

to twenty one you got exactly yeah you .

acknowledge that comes less unrealized gains taxes disaster. Well.

I acknowledge that is not real and you're making IT up that .

you've never heard the same.

I made IT up.

Yes, you made up IT was the the last biden here is budget IT was in the Harris platform .

at the dnc biden platform at the dmc. You would never talk about IT.

You did a search of place on his name and put .

her name in there. But you're reaching David, you're reaching. But you've never heard her talk about IT at all. She's been very specific that cap gains goes to twenty eight percent that .

time that what is what is about done well and what has he not done well? And then the follow up question is, if IT were an open democratic primary, would you have voted for commoner hers?

I don't know again if Donald trump participated in the debates on the republican prime mary and the republican prime mary, would you have voted for Donald trump? Know there's saying .

you're saying it's an analogous. The republicans have open primary. No, they competed, competed nak hai, competed that are open primary and fifty points ahead.

Maybe he should debated. I don't know. No, I mean, look, I would have been, but he was safety points ahead and everybody had a chance to run. They really because .

pretend .

IT on finishing, you can get your response. okay? The democrats pretended that joe biden was just fine, that he was sharpest attack, that he was the best version of joe biden.

And when the primary came and you had um outsiders like public Kennedy a try to compete, no only he he did buy a not debate. They basically use law fair to keep Bobby Kennedy off the ballot. They did not allow him a fair shot at the nomination, which is why he had to leave the party and run as an independent.

Then we find out after the debate that actually biden is not fine. He's actually appears to be significant cognitive decline. So somehow the anti y policy gets him out of there and then comment herr's is annoyed.

She's never want a primary vote ever SHE in twenty twenty, SHE ran and dropped out before the first primary. And then this time around, SHE never had to compete in the primary. And some times the candidate, the question is, I don't think, well, the question, how can you like in this to what the republicans did having an open and competitive primer?

So first of all, the republic ics not have an open competitive keyword competitive primer. Because if one of the candidates refuses to participate because they have a lead, look what happened to joe biden. For all we know, the sec, the bec, would a destroy trump as much trump destroy joe biden? Nicky Haley, would a destroy trump as much as joe um Donald trump destroyed joe biden. I know I think I was .

supporting the center at the time .

and I was definitely, I just would across him too right? They they all just .

think their names on the ballot and talking about .

a first do you think to santo, nicki helly or rebec would have beaten trump in in a debate?

No, I think when if you look to beat them OK, well, i'm saying it's unclear. I don't think you can to say that they would have won. I mean.

try so that means .

is not a truly compelling when trump when trump was in a crowded republican field and debated.

he crushed everybody.

So I just don't know what what debate this is. Just debate. okay? what? At the point that the democrats kept other contenders off the ballot, they use lafite. And moreover, they lied about violence, code of condition. And then they annointed commonly hero through a process that is opake, and we still don't know what happened.

okay. So here's my answer, right? First, going back to the public. IT wasn't a competitive primary if the contender doesn't participate.

And yes, he did well against first fifteen other candidates in twenty sixteen, but i'd be willing to bet that he's also had cognitive decline. Everything he says that does is reflective of that. If joe biden had said the same thing, we would be having a lot of quit.

We would. We don't judge Donald trump and his cognitive ability the way we did job. Okay, so we will put that behind. Now let's .

go to .

join the perona. I didn't talk to a lot twice during that period. And I can tell you from the first time I saw him a year before the last time I saw him, which was, you know, probably in march or April, I forget there was a decline.

But the decline was in his sharpness, right? His quickness of response. If you SAT down and you listen to him, speak about something which I did, he wasn't forceful.

He wasn't. He looked like a walking corps. He looked off, all right.

Um but in terms of content, IT was there. And so I understand why they position him the way they did. It's just to sell IT was impossible. So that's part one. So I don't think the decline is nearly what you're saying that is, but I do .

agree that OK.

So that's now we're moving for, right, this ability to respond in real time. You slow down. We all slow down, right? I'm sixty six years old and i've slow down verses where I was at forty five.

You saw you know, at anyone, and at seventy eight you were going to be slower, joe bind and and just was not as quick. That was a real problem. He got destroyed in the debate by trump because that not because he didn't know the the materials and the content, but he just couldn't respond and think fast enough.

So I think that's where the the misunderstanding is. It's not that he had cognitive decline in the pure sense is that his ability to respond quickly was gone and he looked like he had cognitive decline. So now let's go forward to the democrat national um convention um and right before that were they replaced IT?

I was curious about the just the um mechanics of the whole thing. So being the curious person I am, I went and pulled up the bylaws and the rules of the democratic party. And the democratic national convention, and they reset those every four years.

And prior to them, point out and is very, very clear that the only mission and the only task, and it's prety much the same in the republican as I looked, that there's to the only mission is to win. You want to win the presidency. You want to have control of congress.

That's all they care about. And they give themselves every bit of flexibility to do whatever they done. Well, please, to put themselves in that position. They are a, or are they the party?

Are they the party that of democracy as they claim to be? Are they the party of .

winning IT all now? So now you're trying to play branding games, right?

Started in that there they actually did the fourteen million primary voters in the democratic.

That's the mainstream media discussion of this, right? They say there's fifteen million voters. I said trump debate at all.

There was zero debate with them.

which was it's not an open primary because it's double trump s family business. He controlled what happened in the yeah listen I mean.

I was again, I was supporting someone different during the primary and the reason why I just send us losses, eating enough votes, okay.

the primary to trump that's .

not have won the primary fair square whether he debated or not, he was up fifty points on everybody else and not let me finish one. The democratic mary got four hundred million votes. And then they throw that throughout that result and put in commoner's.

Because they, and like we were in ernst, we ever in a fortunate, we ever in front, okay, in a fortunate, they get to vote in all kinds. But at the end of the day, if the chapter that the national organization says no right doesn't matter .

who won the election, right? You're in the the car party is a great, I get IT something .

controller. You can bring IT however .

you want the demand. Not a democrats, not a democrats.

I don't care what they do.

I don't care supporting them, supporting, supporting you acknowledged alone. Can you just acknowledge that their rhetoric is hypo critical?

I don't care with the radicals. I don't pay attention. I don't pay attention .

to their reit. We're not gonna progress. I really want .

to hear what mark thinks. Yes, here OK. Two things seem to a be sure at the same time, if i'm rehabs your here, mark, one, you would have loved to seen trump debate. Two, I think you would have loved to seen speed run primary, perhaps maybe commute. You battled IT out.

I honestly kicking I one stal. Trump was the candidate. I wanted the best person to be done to truth. That's what I heard about.

Let me go back to my question. So I mean, it's gonna you as the sink summary of mark cuban position, his evaluation of the trump presidency. The positives were tax cuts and .

warp speed and Operation warp speed.

The negatives were continuing the war in yemen when they had a chance to. And then actually.

the negative wasn't so much that, sorry, the negative wasn't so much, he continued. The negative is the apocrypha his access OK right in the style?

okay. Now time to see how we can we do by and what are the things that biden and Harris did well that have helped the country? And what are the things that they could have done Better did not do well.

So i'll start with the negatives first. So just you know that there's a lot of them. One, the way they handle the border was horrific. There's no way to you know to say any differently. Now I understand. And why they took the approach that literally, if a hour in a central, a central american country country and my family was at risk getting shot gun because there was a drug war, i'm doing everything I can.

And I I recognize, you know, that if I just set foot on american soil, I have a chance for asylum, and I get that, and I get why biden and his administration might say, just for you manette an reasons we're going to increase the number of people that we allowed to do that. I understand why he would do IT, but at the same time, he opened the door to White and he made IT so that there were too many people that came through, and that created cascine problems. Now two is credit down IT.

Back in june, I think IT was the signing executive order, which he now is made permanent or permanent. You can as president that changed on that. There's no longer the option to just set foot on american soil and be legible for um a hearing for asylum.

You can do that any longer. And to her credit, SHE worked with the um head of um the mexican government and they have taken steps to reduce the flow of people to the border. And so now the number of encounters at border is about the same as what I was right before the pandemic under the trump administration.

So while he was too long to do IT while he on handle IT incorrectly overall, and the messaging was horrible, I think they ve got to the right place. But now we have a problem right that he created where we have too many um noncitizens illegal aliens, however you want to call them, well, however you want to bring them, and we have to understand how to deal with them. I think that they have talked about, commonly talked about first, and even jd.

Van said this first, we're going to get rid of the criminals, which makes sense. But Donald trump says we're just going to deport everybody. Any illegal, we're just going to deport them.

Now, obama was the deported and chief. He deported more people than trump, or bite in over three million people. But he had a specific process in place that everybody could understand.

And I think with trump, remember on that or or yon gonzi kid, the six old kid miami on, is all this right where you are? You said you had these these cops with, you know, right here on and machine, you A R fifteen s or whatever they use, pointing them at a sexual kid, coLoring and a closet. If Donald trump does that, and that's not contrary to how we approaches things, we could have another series of riots and protest that go really, really bad. And so well, I think by and handle things completely wrong at the beginning, I think with Harris now. And he says sh'll support the um the immigration bill that was by partition etuc guys know that I think SHE has a more common sense approach to dealing with deportations and getting people through the asylum system and the asylum that bill I think said that he would reduce the amount of time to adjudicate asylum to ninety days which means that there is a chance to get control before he turns .

OK so but that was border was bad. Anything else bad should be shift to the good.

I think the spending was bad. I think um that we overspend and I think we went through a period where and i'm going to trying to make excuses for, I just think, you know, you guys mentioned before, he did overspend and I think the the infrastructure bill was good. I think the broadband bill was good.

And everybody says we spent forty two billion dollars on broadband and got nothing we should gone to starting but the reality is the money went to the states and they goodby um starting from elon all they want so that's just kind of the mainstream media poo and something they shot puo. But the E V stuff, the E V charges, that's a cost of you know and there's no way around that. And so I think that was bad. Um so port peril spending.

basically unaccountable spending.

Yeah now I think you know what they did in health care. Um you know you can take and say what he is doing for the mergers. You know everything and progress I think is too months I think you know and I even told her this, I said on a panel sitting right next to her and I said the most important thing from a technological perspective in this country today is that we win A I that is going to fine everything military for us and economically for us.

And that when you try to break up companies like google and facebook, you diminish our ability to compete globally with A I. And he told me now SHE didn't impact on that. He understands that and she's heard that before.

I think their approach to that is wrong. I think that what she's done with the ftc against pharmacy benefit managers has been good, right? Pharmacy benefit managers are rip enough more companies and costing and increasing the cost of medications more than anything else. This happening in healthcare and she's called them on the carpet with a recent report and just sued them. I think that's good. Um I think in terms of other negative like comely here is now I think um the um um fillip ster, I think that's a mistake to try to get rid of the fillibuster because then somebody else gets rid of IT for something else and it's just cascine problems on on spending we talked about. I think he spent too much .

of what and what have they done? Well.

I think he changed the tone of the country. I think that was really, really important. No one woke up, you know, David, calls of mean tweet, but not waking up concerned about mean tweet is important.

Not waking up concerned about there being some random on tariffs on your company that you didn't expect, not waking up being accused of, of doing something. I think those were all huge positives. I think, of supporting workers. I think you know, just having just a sensibility of, okay, where we're not in the middle of everything just wasn't this uncertainty like every single day that every business woke up with, with truck just removing, that was the biggest positive of all.

So let's look forward now to a koala Harris candidacy for president of the things. So we know the Donald trump track record because he gets the credit for the things he got right, and he has to take ownership of the things.

But how it's been defined, i'll use the aim in example again. I'll use the Price example in oil again. You know, we have chinese a right. We presume that what he did in terms of the economy, everything and no words, you know, no, everything was just rosy under Donald trump. And I think that's another thing that .

i'll be honest. I've never heard this pacific theory. I'll take the time to look and figured out for myself. I know let you, but what i'm curious about is that track record is there now. How much of the and do you think it's important for us to give credit for the good things to koala and responsibility for the bad things to kala in that so that you have an equivalent A B comparison? Do you think about no.

I and i'll tell you why I assume all you guys, i've had a boss at one point or another. Yes.

yeah, yeah.

And do you all agree with everything that that boss did all the time?

No, no, no, but you had to do with .

the boss told you to do now, and that's common less.

But I like, I like to take credit for, and the boss tells me i'm owning something.

and then I do IT well. But at the same time, you credit for doing IT, but IT doesn't matter. You know, if IT turns out to be wrong, it's still the boss that's on the hook.

What about the border, mark? Because you made a comment about the border and he was declared the borders are yeah again.

that's bRandy. I mean, we play branding games with politics all the time. If you look at what her specific responsibility was alluded to IT earlier, her job was to go to central amErica and talk to the heads of the countries there and try to reduce the reasons why people were leaving their countries to go to the united states.

And you think they are open the water so much. I'm wondering, mark, that there is a conspiracy theory, or there you can pick how you want to frame IT, that this is to increase the number of democratic voters. At the same time, we hear that a lot of the folks coming in who are the working class, that the republican parties, now the populist parties, so the votes we go to the republicans. So I i've heard this argue mi from both sides.

What is another? There's another theory and I cannot get theory, mark, which is that IT increases the base of workers and write our lowest unemployment rate in history and inflation is raging. So by bringing in low cost workers that you that you're able to get to work at a lower wage rate, you actually have a deflationary effect in the stimulating .

effect is the end up gic? I don't think I think maybe they might have thought of that earlier, and that's why they let too many people in. But I think they realized now that they showed up and .

shouldn't be that shouldn't be an executive authority, right? I mean, that should be like a legislative congressional authority that makes that decision in that determination on whether to change immigration policy. Do you think that the executive branch should be able to unilaterally determine who comes into the country without following laws?

No, I prefer that the congress does IT. Unfortunately, that just not what work. Look at the S.

C, C. We care against the guys are more on. And but you know we can agree to go that actually .

yeah so that we can agree on before we get to that. So so you're .

claim .

on board but before .

before .

we do that, I was going to fish upon border here. So your claim is I commonly here is really wanted to seal the border, but SHE was prevented that doing so David.

you're really good at trying to position things so you have know, you have talking points to go out with.

So and just you said that this is the case of a VP who was thwarted by .

her boss from doing they want, said OK. So you know that the.

you know so the truth, he was on boring to by agenda.

I don't know she's doing what he was being told. Ge, when you there's no you're creating false choice is David you're .

creating so David.

if you do the job your boss told you to do, does that do you make a declaration before you do? And if I agree or disagree.

SHE disagree with dw about .

about this because see what she's .

doing now because he changed .

the SHE has a different place in election, your conversion .

SHE realizes what a disasters brilliant.

Give me the proof, okay.

her own work. So he called a position .

SHE called transport wall and an american and medival and mocked IT and SHE became SHE was in the senate and trump was trying to build the wall member, a democrat tried to throw that. They objected to him to years of litigation to prevent him from building that wall. And SHE multiple times was on record saying the wall was on american medieval marketsa fort SHE also compared ice to the K, K, K.

SHE said that images of border patrol agents evoked slavery. Kay, this is her, retorted, I don't think joe, by made to her, say that SHE suggested that we abolish ice and start from scratch OK. And now he wants to talk about how tough .

SHE is on the border. If he talked to jd vans back then and was taking his positions, people change your mind for whatever reason. People learn your positioning as OK.

So for so so throughout her all time in the senate, he was arguing against the border wall. Okay, the strongest possible language SHE then becomes borders are, or you can call a point person for the by administration. And for three years they gasoline us.

That the border was not a problem, that I was not an open, festering wound like the videos were constant coming out. Remember, on the show we talk about IT, and I was told when I was raised the issue, the border. That was a good spirity theory, that fox news was just Cherry picking videos.

Remember that Jason and any of yeah what people were actually because people were sharing people were sharing videos and playing them on fox that were from like ten years ago. So there was a lot of misinformation know .

to think about caravans gave IT all those carian ans never made IT to the border. How many caravan .

ans do we hear about something? Over ten million migrants have entered the country during the bian harson. But the first thing they did hold us when.

No, no, no, we do know those. Those ten million are just the border encounters. Those are the recorded crossings that they LED into the country.

The number we don't know is whether how many more were not record company. why? I'll tell you why. When joan took off, he repealed all of trump .

s executive order. What is to .

what the .

and in .

addition.

they got rid .

of trust, main mexico policy, and they the meaning of asylum, so that anyone who went to the border and said that they were suffer economic hardship, which is basically the whole world, okay, could not qualify for asylum. And they were given, they were given like a ticket to appear in court one day, like three years, five years, and they were usher into the country. And then they were like nonprofits working with the by administration. I said .

that they screw up, read. They screw up on .

the border.

Now they screwed up. But now .

we are.

So yeah, but SHE SHE changed just like that, just like J D. Vance, jd. Vans called .

him eller j events in twenty twenty. Why you change .

his mind about right? And that's fine. So you talk to people. So so does SHE representing .

the state of the people's position like six months ago and now over something, she's phenomena.

So she's you you're trying your virtue signal like a mother, right? You're trying to put your time and you try to brand anything that you disagree with that you think is a negative and just put him on her, which is politics want to want, right? But you're not looking at what she's actually doing.

what she's actually doing for the .

administration. OK. I doesn't matter if SHE was if SHE was in charge and he said, you know what what you wanted to do was like J.

D. V said about, um abortion, right? I talk to somebody and, you know, they proved IT great.

That was a smart move by him. Would IT be smart for her to say I was wrong? Now, i've learned more, and i've picked up more information.

Now question for you, thanks. If jd events can lobby and want a national abortion ban and then changes mine as the number two for trump can commute change, mind, this is no longer running for you at. The number two is by me.

I think I think jd explained why he changes mind about that. He said that there was a referendum in ohio and his side lost. And he best can kala .

and you have the Grace for a commoner to change your mind .

or not taking to learning from that, cma hair says, never explained .

why he .

changed her. When will the media even ask this question? SHE doesn't admit for interviews, and certainly that the debate moderators, like on abc, never asked a question mark if she's going to change her mind, if he is going to have this election your version, why isn't the media ask for? What is the basis of this?

When did you change your mind was at five minutes ago? Why then did you a support biden throughout your entire last three and a half years once they ask these questions? If you are part of the by administration, why do you volunteer to be the borders air? If you disagree to show by about these policies, when exactly did you change your mind those .

the questions that you should be answering? why?

No.

those are the questions that you want so that you think you can put her on the defensive .

and get and have .

you no look you want to know. But let me just tell you what's important. Put yourself, put yourself in the shoes. Let's just call this of business, right? And the business of this business is getting votes and went in this election.

And you came in and the the product you originally had new coke failed right by this new coke in this example. And you come in and you say, i'm you know, i'm bringing them back. This is the new new coke and where we're going to test, see if that's working well.

When you brought in commoner hairs, he had no favorable ratings. What's ever SHE was behind in all polling, right where joe biden was. And now he is either even or a head or a little bit behind in every single poll. And why do I bring you up? Because IT means what she's doing is working, you know, think.

actually agree. I think we actually found a point to agree on, which is I think commons is to saying whatever IT takes so you can .

say the same thing.

You can jay belief, hold on. SHE stated her true belief years ago and throughout the by administration, which is SHE never believed the border was a problem. He thought the border wall, trumps wall, was an american and medieval.

And SHE thought that I need to be abolish. I think that was her true belief. Now if it's not her true belief, I would like her to explain when SHE changed her belief and why the same way that jd vancsik.

And I think the american people are until to know that. And I think if the media was doing its job, they're be asking her those questions. She's never been ask that the rule latest interview do not ask that and motorists do not ask that.

Let's just go outside of in amErica for one second, bigger mark. Your jewish, your jewish heritage. I would really like your opinion on what's happening outside of america.

There is some crazy pictures over the last few weeks coming out from the middle. Ast, there are still all this complications complicating stuff with china. Where do you stand on all of these things? Where do you stand on the mere shermer sacks?

Jeffrey sax, kind of school of logic, that there's a military industrial complex that tends to just push us towards these war zones and these forever words. Where do you just stand on those issues? And how do you think about that?

I mean, honestly, I don't have enough information to give you a qualified response. I'm i'm promise real to the core because i'm jewish um a manti homos to the core. I think you know there are terrorists.

They are terrorists. Um I want to see israel to succeed. I want to see israel succeed. I want to see the united support them and help them in that um but you know when israel was going into gaza, I thought I was too blunt and instrument but when they went after his ballot, I thought they did the exact right way. And so you know i'm i'm always only gonna and .

ukraine yes um ukraine I don't want to see american .

blood spill and as long as there's a nato and I agreed there should be a nato, i'd rather see a spend money than put soldiers in harms way and so does does .

the Harris campaigns ree on that point? Or do they have .

any another conversion of another conversion?

I don't let me ask you just a point on a arithmetic, which I thinks the most important arithmetic we should all be talking about today is the first a yesterday was the first day of the uh, federal right. And here's a little image for us all look at together as a group, an image that everyone should wake up every morning in the united states and look at the first thing they do. Instead of looking at twitter, they should look the image that i'm sharing on the screen right now, which is federal debt in the united .

states screen of taking a bath first day.

On the first day, the new fiscal year, federal debt jumped by two hundred and four billion dollars in one day. Federal dead now stands at thirty five point seven trillion dollars. And the biggest chAllenge we have in the year ahead is that ten trillion of the outstanding debt comes up for refinance.

It's gonna finances around four percent. So we're going to be adding another three hundred billion dollars in new interesting expense next fiscal year. Plus the bite administration has proposed to seven point two trillion dollar budget for next year, which will will inevitably lead to another two trillion dollars of deficit spending, which means that by the end of twenty twenty five we could be staring at forty trillion dollars of federal debt.

And if you do the math on that, at four percent interest at to one point six trillion year of interest expense a year, just on interest expense on the outstanding debt, which effectively begins to eclipse the entire federal budget very quickly and gives us no ability to manual to meet the needs of all the policy demands that are being described and shaped in all of these elections and all of these debates and all the ball is going on, is really not funded able. What is the Harris campaign say about the situation with respect deficit spending and debt, and I don't know how high you can raise taxes and not cut spending to even make a dent in the chAllenge ahead without driving a massive recession. What is what do you think like the hero versus the trump campaigns kind of intentions are as we look at this abyss that we're now kind of .

I can't speak for them. I can only tell the conversations i've had and what they said to me. Whether not they take these directions is completely up to them.

And I don't know, but I said the exact same thing. They know that the um the deficit, the problem IT won't be a budget by a biden budget. There's no bite in administration that happened.

They've already come. You know just the tax rates are completely different than the biden budget proposals where there's no you know um unrealized capital gains eeta, they went to twenty eight, twenty eight percent. So it's not going to be what was proposed by .

by there's a limit on tax basically, right?

The people yeah is only there's a point of administering and raising taxes may realize that, right? So when we talked about unrealized capital again and I game a thousand reasons why not they like we already know this um yet yet after David point one not they just come out and sense say IT because the one percent of high information voters don't know the difference of unrealized capital gains or not.

Don't care the ninety nine percent want to hear about the things that they're talking about. So that's why people like me can go out there and talk about but to your point and the bigger point um did that they realized that there was only a couple ways to reduce the deficit. One, you get inflation under control and that reduces interest rates.

And that's gna work in our favor. And I think that's happening now is one point six trillion dollars that interest rates go below four percent. That says a lot of money, probably the most you can save.

They realize efficiency is an important element in her last speech, and pittsburgh SHE talked about how long IT took only took one year to build the empire state building. It's crazy. There's too much friction and the government to be able to do building the right way.

They're gonna duce friction. I've had conversations with them about A I as a service and being able to um optimize integrating um um artificial intelligence into all these processes so that they don't have to keep on hiring ing people. I don't think they're mindset again, i'm speaking for myself and my perspective of my positions with them.

I don't think their mindset is to just go out there and just cut a china people. But I do think the mindset is how can we implement technology to become more efficient so that we can provide more value to the citizens of this country at less cost. I think that's important to them.

I think um you're going to see a lot of reduct. I'm trying to think the best way to say SHE knows that technology is the ultimate driver of success. And if SHE supports new technologies, and you heard that again in pinch per SHE wants to mention blockchain. But more importantly, he mentioned ai and how A I is key to us being a dominant military, uh having a um a military be dominant and to have our economy grow because the other way to get results isn't just a slash and burn like of the weak ones to do, but to grow the economy and that the truly are ways to grow the economy without just more.

But you you supported elon must going in like if you're saying shed regulatory burden, shed in efficiency, improved productivity, don't we need an elon musk style model that you know trump has talked about with elon? Send someone in and lets go fix the inefficiency across all of the administrative. What first of all.

when you just cut, when you do of a type, just come the department of education, right? Whatever IT is we what would actually do why I .

think that triggers the recession because .

then a of loyal in the contract. And so that means the united states of amErica is violated. All these contracts with small businesses and medium size businesses um and maybe one of the dog in the treasury, who knows? And that's how we make IT all of but but you can't just crap slash and burn to your points.

Ge, I mean, I just won't work. And so what you can do though is introduced technology. We have yet to have a president that fully understands technology.

I'm not here to tell you that kala Harris is a geek. She's not. But he understands the impact.

And he has a lot of people who truly artigues around her, around her. And SHE truly believes that implementing technology is a way to improve efficiency. But the whole idea you can take the libertarian approach, that's ideologies.

You have to take a problem solve in approach. How do you look at any specific problem we're trying to solve? How can you apply technology to that? I think you will get that from the Harris administration as a part of donal. Just talking about the A I. And how much energy and consumes mark .

you you said of all the rules, if there's a heir administration, you said .

you want to run the S C roling. I roling because it's fun to do OK.

Okay, so so do you think you what i'm particularly wise?

Kans lor. Has you done a particularly bad?

Are you rolling?

Are you I kick you out of the troll.

I think .

control .

the .

rolling market truck.

But but I take one republican that as I understand that you are supporting is john deaton, who is running against the lisa warn in the vast shots at senate race so uh, i'm curious about this because I think this is an area we great on.

You're not A I really interesting yeah .

I am not a of lisa by crp to I mean, I understand her position. Her basic position is your bad nation states use cyp to to fund their Operations. The bad stuff and he just wants to throw the baby out with the bath water is supposed to using, you know, like I proposed H A blacklist from o fac that can be implemented in all kinds.

I need to gin to the details, right? But just IT wasn't going to happen. And so when john not just been procyta, but you know, his background, his character, I thought really was a positive.

And so even before he got to his hands ring, I was talking to him, supporting them, giving them feedback and helping them. So again, i'm not a democrat. I have no problem.

And I think john e. Didn't will be Better for the country, Better. Third, the citizens of massachusetts lizz warn.

would be what would be common sense crypto regulation? Obviously, you don't want people building people out of their money. yeah. So what would be a way to baLance accredited investors versus the populist, non sophisticated investors of that?

Even a thing? So I people running a muck, you know, right? So i've got to got lazy 点 com。 And like if you got a lazy com slash and you'll see all my N F T and all IT is is is a way to display your N F T.

It's hardly makes any money, but I wanted to see if we could release the token. So first thing idea was I had one of our people call the S. C, C.

And say, hey, what steps do we have to take to release the token? They went through this whole regime, all beginning securities lawyers in this, than that there's no way a company with a hundred thousand dollars in rim is going to be able afford to do that. So then I said, okay, i'm going to go right to the S, C, C, that gov.

And see about reggy, and see if I could just fill out the forms myself and you know just see what. So you start filling the name address, then you get to the type of business. And the only category is other. And once you followed that other um connection, there is no way to put the um round out the just there's no way to make a work here. You can make IT work and I actually said that try again there. And so to answer your question, you have to make IT easy to follow the rules and you can in the terms of everything being a security, gansler says everything applies to how we right there's a hwy role and everything you know but the reality users also A A rule that came after ruling that came after um called reves reverses earned in Young that had to do with interest. And if you think about if you guys ever shorted stocks or done stock alone or you can make some money off a stock.

one a borrow yeah so what .

you know you can make a show you can make when you share the stocks available to the borrowers and get paid a vig, right, you might get tender twelve percent. And so doing that is the exact same thing, is loaning out bitcoin for somebody else to borrow. And there's no they don't call Better security.

So I ask I ask you against ler if it's not a security till loan out um a share stock. And why is that you know a security to loan out a bit coin to somebody they didn't have an answer. And the point there is he has an approach that is regulation through litigation. He's gone to see you first, ask questions later and hope that the result of that litigation becomes a rule that everybody else has to follow with that. Well, you say.

wouldn't a more common sense approach her be to say if we had an accreditation test to sophisticated investor test.

we talked about IT well there's .

not one for the populist to take like a drivers' license where they could say, hey, i've taken this test. I understand verity verity ation.

if you are able to register with the securities um and exchange commission for your company for the release of your token, then depending on how many people you are trying to sell IT to, you would only be able to do that with qualified investors, right? But what happens is gary gansler is making IT so difficult to register. And what is what he should be doing and saying? Here's the bright line regulations.

If F T X wants to loan out all their a theory, um you have to do what they did in japan. You have to have ninety five percent colleran and ninety five percent of anything needs to be put in cold storage. If he had followed the same rules for cyp to that japanned, F T X would still be a business.

3 pic me free might still be in jail， but F T X, three years capital, they still be a business because he did the wrong thing. Now i've literally talk to comply hairs at launch about the specific topic of regulation through litigation. And as a lawyer, he got IT immediately. And SHE knows it's a problem and they know and she's even mentioned in one of her speeches that that's something that they are going to deal with.

Before I get your reaction to the story from the washington reporter, there was A A story I don't .

know if just washing.

but no washing reporters. So according to some senate sources, common heroes was considering gangster or for treasury secretary.

I was.

okay, what's the product?

I, I, I haven't asked about any position at all, but what I was told in britain, look, talking to people who are like, always in the same room with her. The response to me about her against there was, if you heard anybody say anything positive, that's intentional. Well, I mean.

the reason he's in that role is because he is a lizbeth warns, and he has been enormously powerful during the by administration.

You are mark, mark. Boil IT all up like, what's your general sense of her? But how should we all think about her?

So here's way I look at calmet t right? SHE is open minded SHE smart SHE does the work SHE digs in and learns she's ethical, she's honest SHE cares. Um he wants to bring the country to the middle.

He knows that when he was far left that might have been great for the state of california, but IT doesn't solve the problems of the united states, of the amErica of amErica today. And that's why you've seen her go to the middle. And that is truly, I know, dave, you might not believe this IT is truly honest and drew in through her when he gave gives speeches.

Now he says, i'll take ideas from independence. I'll take them from republicans. I don't care. We have a lot of problems to solve in this country. I won't be shocked if if he was, he talked to elon mask, if elon would talk to her. SHE doesn't care where the ideas do.

interviews with unfriendly or chAllenging folks. This seems to be like a really value critics.

We are here. shine.

Yeah, I don't do a great look.

IT is not SHE. Why does he hide this thing?

I don't. I don't think she's hiding. There's two elements there, but one I think SHE understands. The assignment was to win the election.

And the best way to reach the most number of people and get them to change the mind is not the one percent of people who are high information voters. It's all the people who are showing up at rallies and screaming and yelling. Those are the people who people whose mine SHE has changed so far.

And that's how she's caught up and who he wants to change. And that's where she's putting her focus. And two and this is Billy honest um he has too longer wind up and answering every single question and that makes interviews difficult.

He wants to inspire everybody with everything that SHE answers and tries to get people all excited about what she's going to do. And so SHE takes too long to get to that. If you cut out the wind ups, her answers aren't so bad. Her answers are all absolutely legit. But that wind up makes the same, like the whole words out of them.

you know, think is relevant, that he was born to a middle school family as the answer.

too. yes. So sh'd got to drop that. yeah. But on the flip side, I mean, if you like, I literally, because I knew I be talking you. I listen to Donald trump speech in my walking. Did any of you guys listen to that?

Yeah, I was okay.

What was there? sex?

I was. No, no, no one.

Not the reno. Two days.

And now, two days ago, two days ago. So might .

have a long wind up. Donald trump has an eternal wind up where all he does is get to his slogans and talking points and then talks in jewish the rest of the time. Let me fill you in in some .

of the gym rally. He will speak separate for over an hour.

yes, but what he says .

that over one on a teleprompter for .

you're saying, that doesn't matter. What he says.

no, I think IT does matter. But I think that I watch enough, i've watched enough trump reales, including his speech at the convention where I was there listening to understand what he, what issues he stands for.

Okay, tell me what issues he stands for when he diminishes. Jimmy Carter just has this hundreds birthday.

Tell me what if you see, I D say good things and bad .

things about OK.

everyone makes me okay.

So let's put that aside. That should say that is what that is. Even IDE will go that put that under the the character. Please start talking about apartments with no windows that builders under commonly heroes are going to start are being forced to build apartments with no windows.

I haven't .

heard that bit. Yeah yeah. Ah I listen to this today .

and then he also said, but I also know that people take a lot of what trop says a context to make A N what he says and you don't try to um you shade IT in the worst possible way. A lot of what he says makes sense.

I believe that if you if you want to know why I support trump p number one, the border, okay, like commonly Harris election, your conversion, he has been very consistent, ever sense he came down the escalator or that we needed to have a wall. And that really, that was just the first part of our border security. We need to have a border. Democrats not just come up. Pretty much all the democrats thought him on that the last .

eight years to the point .

where understand you get OK. So I think that he and only he has credibility in the selection on that issue. Number two, on the on the foreigners, we talked about this. I mean, I don't think his record on foreign icy was perfect. But this is true that he did not start any new foreign war, the ukraine war .

we could ended.

that he invaded ukraine.

I've argued on the .

show many times OK.

So you're signing whatever .

to joe by. And so we got, he forced put to invade.

Come on. Stop acting dumb. You understand that we try to convert ukraine into a giant nato base. That was, the russians said over and over again that that was a red line to them.

IT was the bride's, but to blame .

IT on and biller ns are curcio director set at best is the brides all red of all red lines for the russia? Not just put, oh, that has been .

a consistent.

what think twenty, to get more over whole us. I can even if you don't believe, even if you disagree with me and you say that about and and provoke, we had the chance to end the warn at first month with a deal. Instagram, kay and the mainstream dia denied IT for a year.

IT was only an alternative media. Then finally, the new ork times, the willie journal roads stories about IT IT is the truth. Victoria newland just admitted that we could have agreed to a deal in the first month. The bad ministration shot that down.

That is why we .

have the war going in ukraine .

o so remember and is expecting.

but remember you care about israel on and mark, if you care about israel, you should be really concerned about the fact that the united states has significantly depleted its stockpiles of weapons and artillery ammunition tion in ukraine on a war that is future .

we we the money, David, we didn't give them anything new. We hundred.

hundred hundred, 2 hundred， fifty five million later, our teller shells.

not about new year old OK. Get the little gary israel, get the glen gary leaves right and and look on on top of that silly.

so much air defense is only so many .

patrie to go around. All right. We don't the one in .

this table. Yeah, he could only .

say .

yesterday if the U. S. Supported IT. And instead we encourage him to fight.

We threw cold water on that deal. We blocked IT. We should have told, we should have told.

And ski, you know what? Just make that deal. We don't need another war right now. Okay, this later things not happening anyway. Okay, because we're not letting zilli skin to nature .

will know the guy from norway, the guy who just took over nato's ys.

otherwise that we're not going to let in as linsey was just here in the us. Last week with this so called Victory plan, you know what his Victory plan was, let us in to nato immediately so that you can fight .

our war for with .

the badminton strain to its credit rejected that, kay, I get buying credit for that.

The this is biden is not running in this election.

Whenever it's inconvenient, you want to pretend that heroes has nothing to do with a demonstration.

Given you when i've had people who work for me and started, when I started their own companies like shaman in facebook, right? There are not. People have different opinions. The people who work for me do what I say, period in the story. Maybe they do.

There is an abundant record. I know what J.

D. V. Instant for.

There is an abundant .

record of come here.

says the center before SHE, even to the .

most liberal member.

IT is. The question is what he .

really stand for? What you really sorry?

What's your question?

Happy answer. What ever, ever go against donal trump?

No, I obviously I understand that .

a VP cannot go against.

What about the?

Now moving on, on second.

that fact does not prove that commonly hero has a different policy than joe biden. Whenever it's inconvenient for you to .

admit what do what you know you're doing the exact thing you say, you're say that i'm doing, you're trying to position her so that everything from the bite administration is SHE has ownership of IT. And what i'm saying is just look at what she's doing, look at what she's saying you you would see here's here's the prompt arrange. Here's the antithesis of the trumpet, the arrangement, synthetic syn, rome, right?

You tell whenever Donald trump s. Said something stupid, everybody explains IT for him. When coming, Harris said something smart. Everybody tries to explain why.

stupid and not true ID. And he said, that was smart. Just just want to .

project the window st, by the way, the window, the window less thing, mark. You know, because next year that with us, it's an architectural digest article. Apparently, eric Adams, the mayor of new york, proposed windowless bedrooms as a way to change the building codes to incentivize more apartments being built. I think it's fix the .

housing crisis in the promise .

converting the place. This is the gas lighting.

They try to make you find out that .

there's a real basis.

Some cases he just lies and truth can ever .

explain IT himself. Why is that? That the guy that you like can never and said, hey, you know, this is crazy.

This is the most ridiculous thing. Eric adam suggested. Everybody else has got to do the research and explain what trop really .

means because he is .

losing that he is .

kind and table .

as an act of you mean, no.

I think .

he's very sharp.

Mark, very, very pointed question. Why did you sell the maps at this moment?

So I saw three quarters of not the whole thing, I still in twenty seven point seven percent um for couple reasons. One when I first thought in in two thousand, I I was the tech guy in the M B A. I was the media guy, you know, breakfast I can just sold IT M, H, T, not just created the very first ever high definition television network.

I had every edge in every angle. Now fast forward twenty four years later. Um in order to sustain growth, to be able to compete with a new collector bargain agreement, you have to have other sources of revenue. And so you see other teams and all scores for that matter, you know, talking about casinos, talking about creating, doing .

something .

that's just not me. I was going to a put up two billion dollars, you know, to get an education on building that. So that was one that part one, part two is my kids are now fifteen, eighteen and twenty one.

And over the next ten years, that's a lot of pressure on them to have to take over the team or deal with the trust you know, got to someone happens to me deal with the trust fund issues. And so by selling three quarters of IT, I took all that pressure off of them because you you guys see that hate. I mean, jing can tell you all day long about Jimmy dan.

He's M. I, A. Right now. The next are doing great.

Do you evaluations peak mark?

I don't think they've picked yet because IT for the reasons I just mentioned. If we're able to build of addition type casino and dale's with an american government center in middle of the valuation is twenty billion dollars, but I am twenty seven .

percent of that. Uh, well, and you bought IT for hundred, three hundred. And you know the .

three point you did IT. Did you just do IT for fun? And IT worked out to be a great business?

Or did you think it's really a great business? No, I did IT for fun. So you know it's a great question. Um from two thousand to two thousand ten, the the actual valuations went down and in two thousand and ten, we were not even able to sell the new orleans hornets.

The league had to buy IT right? And I was right around then that the sexual got purchase for two hundred for the same Price I paid. And you know the um the cap the N B A on cellar cap is reflection of the total reviews of the M B A.

There were multiple years when the salary cap went down, meaning our overall revenues went down, which was great for me. Competitive ly, because I would buy first round picks for three million dollars. I would buy players from other teams that could afford to run their teams.

And that's why we went on this, you know fifteen years streak of never having a losing season and went in fifty games in a row for for ten years in the rope. So um you know IT worked against me, worked for me competitive ly, but that just shows you that things can change. And so I didn't do with that what the video.

So when when on cable and satellite and on over the air became very competitive and they started to grow and subscriptions grew to one hundred and thirty million people um or substitutions, that's a lot of money and they had to compete for content so that there will be less turn. And I A little ally remember in two thousand um in one when we first signed a first cable deal, they N B C had the deal and they were going back to David stern saying we need fewer games and I SAT there in one of our border governors meetings. And i'm like to look, tb s just signed a deal to pay a billion dollars per episode for repeats of science field.

If you do that on evaluation per hour, R S pressure are ratings are actually Better. Don't think of IT as as um less um less product will lead to more demand. The exact opposite. We're so inexpensive we can charge more and that lead to the next T V deal and that lead to the explosion.

Mark, you have a lot of fingers and a lot of pots and other businesses. You have a really important thing you're doing in drugs that you may want to talk about.

Yeah, thanks for bring that up much.

If you look at the next ten years of your life. So you're sixty six between now, fourteen years between now and eighty eighty one. What's your goal? Like what are you working on? What are the things that you care about? Where are you putting your capital?

What are you trying to do? One of sly but beyond that is cost of um working up the health industry like you wouldn't .

believe if you've seen just explain IT.

So let's just say guys our age or you guys are close enough my age, we use a drug called to dille film for those who you can know what .

IT is and you is generally alex, yes is.

great. What's .

going on here? both.

So I just seems .

Better value for money.

He's turned to great actually that you go to costly drugs that com and you put into deal film. When IT comes up, we show you our actual cost and then we marked up by fifteen percent. And if you buy the mail order, then we had five dollars for a pharmacy feder review everything and five dollars for shipping in handling. The net result of that is you guys have a general idea of what the Prices now from now, the ads you can buy a ninety pack of to deliver for about nine dollars and ninety cents for shipping and ending. So for less than the Price of a bag of M, M, M, you could put up and A A little cup or cup jar next to your bed of .

either eminence or this website 是。

my god, you might .

be right back. Nine dollars for ninety days.

Let me.

that is great. It's a grateful deal.

So but you play that to twenty five hundred drugs that we have. And now all the you see what's wrong with these things called pharmacy benefit managers and the problem industry that's so paid. And i'll give you another example, there are drugs that are called special e generic.

And the only thing special about them, they actually just pills, is that they were traditionally more expensive. So there is a drug um called a matter which is a chemotherapy drug. You just walk in to um A C V S as an example and a big big pharmacy um and just you your cash payer or high deductable payer and you just needed IT, i'll charge you anywhere from two hundred to two thousand dollars.

You have no idea what you're going to pay if you get up from columbus. Drugs depending on the vote, the number in the trends IT might be twenty one to thirty dollars. There's another drug drugs in dopa.

One of my bodies came to me and said, i'm losing my insurance. They want to charge me um the pharmacy wants to charge me ten thousand dollars a quarter for this medication called drugs dopa. All right then and let me check then initially sixty four dollars a month, now is in the twenty dollars a month. Because this our class goes down, we pass on on and that just changed the industry because think about what happens when you get a prescription.

what the push back. But mark, I mean, what is the push back you get because that's that's not counts counter to the trend, right? So is IT just infinite growth through? How does the industry respond when you create that Price differential?

So is the vlama they can just give up all this margin. They sold most of the business of pharmacy benefit managers, not most of big chocolate businesses comes from corporate um from corporations right in self insurance companies and they go to them and they put together and think all the formula of the drugs right that's available to them and they say we're going to Price this so that we get rebates and will pass on the rebates we get from the manufacturer to you.

Now they say they're on pass on one hundred percent of that rebate. They don't they create all these subsidies is everything that scheme, ten percent whatever off the top. But they know that they can continue working with these companies because the core competency of A C E O is not to know their health care cost. And literally for any C E O that are out there. I did your P B M contract audit IT right now. I promise you that that P B M gona tell you you don't need all that and then you can say we want to add cos plus drugs to our pharmacy supply contract and they're onna say no, you're not allowed to do IT because they know our Prices are so much lower that is disrupt in their industry. Are you doing .

this as like a four profit business? Are you losing money on this and doing IT just to help society what you're plan here right now?

Um i'm losing money. And most of that was because we build a factory, the whole robotic driven factory that um sterile injectables that are in short supply. So now, like with the hurricanes know, we're using our robotics to switch over to sterile water of all things and some other things so that we can manufacture IT and get IT to them.

And you know a reasonable Price as a poster crysis ale gene, which commonly talked often about. So you know because there will be Price scogin and in pharmacy, and we're here to be an alternative. So they answer your question.

I've spent a whole a lot of money on these robotics and putting this together. But our path is hockey stick, double, triple hockey stick. And so we're taking business from them. And I think the traditional legacy companies and .

did something happen to you or somebody around you that motivated you to go after the P P M or which is is clinical business analysis of like this. This doesn't make sense and I can be done.

But so both what happened was I got an email from my partner, cofounder doctor alex h. Oh, my ankle, and he wanted to create a compounding pharmacy and denver that made drugs that were in short supply because there's always, for whatever reason, some other drug that is on the shortage list. And i'm like, you're thinking too small.

And this was right around the time that the farmer bro was going to jail. And I asked them, you know, how is that that this dude buys up a one year supply of DRAM the druggy, but and just jacks IT up. And how does that happen? And he goes, IT just happened.

And I will let me do some homework and digging. And the reason was obvious. The industry was completely OPEC, the first line in every single pharmacy contract and health care contract for that matter, is you're not love to talk about IT. You are restricted from talking about this to anybody, anybody at all.

We had a completely o pig market, so we put together the website called cosplay rugs 点 com。 But really the smartest thing that we did, and I was unintentional in terms of impact, we created a full Price list so you can get our twenty five hundred drugs, the actual Price list. And we released at every week because we're on a role now where we've had since last a year ago, more than a year ago every weekday, we've lowered the Price on the drug.

And so we just put that out. And what happened as a result is now companies can just get the Price list and do comparisons to approximately what they're paying because they are P, P. M want to tell .

them exactly what they're suggestion for their market. You can make non profit when you sell the map. You could donate money to this. Then like six seven years later, you could flip IT into a four, take a public just like a strategy .

of minister investor of just killing um and so um so we put out this Priceless st and of a sudden arbor medical and vender build and um the all these research institutes took our pricing and compared to what medical was paying for the same drugs and I was like, well.

this is what I was going to ask you because C. M. S. Is now empower to negotiate yeah and this is sort of maybe ties together with the governmental efficiency and just do the obvious right thing. But shouldn't they just work with you as an example and and why don't think .

they are and I just are they are right? So here's again, I can't speak for her to say what she's going to do, but here was the conversation i've had with her team when IT comes to reducing auto pocket cost to deal with inflation. What i've told them is one key area that in fact, most families, at some level, nobody dies healthy is the cost of healthcare and pharmaceuticals. And by working by requiring transparency in all contracts signed by anybody anywhere in terms of pricing, you are going to see the same impact on across the board, pricing of a decrease of thirty, forty percent. And so all that is going to reduce out of pocket spending for everybody, reduce government spending for everybody and have a net positive impact.

They see that version. Republicans seems an make sense for everybody.

I had a very a similar conversation like as I mentioned you in the White house when I went there um and adjust .

and resonate boys, any any final questions for marker .

as we I I investing in A I tech logy.

Where are you investing in the stack? How do you think about that? Are you an active venture investor? And I we ve obviously one to get, but i'm curious how you look at that.

So now i've kind of slow down on investing in, greg. Right, with smart, right? smart. yeah. Let's go right.

And I can tell all I think I think we all have a piece of that now.

O good. So you have the whole story, right? And so I think that's great. Pixel shell. S, I think we're important. I think the problem this happens with all new technologies is we're seeing the gold rush right now where everybody calls everything ai, particularly with agents.

And I think you can put all these vertical agents together to do all these different things, but agents are just going to be a feature, not a product, because inherently in A I as the advances and gets smarter than it's gonna able to create its own agents for its users and go forward from there. So i've been really hesitated now because you know you're not going to invest in the foundational models. I mean, to a fun, I have part of um OpenAI but and some others but is that's just so expensive? You don't know who the winners are going to be, but yet everything that everything that happens is going to be a derivative.

a one of your business intuition tell you about bad, actually. So you have this crazy capital race between close and open. How do you think that player.

I think they are going to be on tens of millions of models. Everybody's going to have a model. Your kids are going to have models.

You, their little invisible friend is going to be a model that in a know a teddy bear um that they grow up with. So there's going to be an unlimited number of models, but we don't know who the winners are going to be to host those models. I have no idea.

And if you go back over the history of technology, that's always the case. Everybody, there's always a race to be the winner for the foundation, whether was broadband, whether was networking, whether whatever is streaming and everybody battles that out. And so it's okay. And for me now, i'm just like let me just wait.

Let me just a you think there's going to be for a chance a job displacement. What do you think of like this? Uh, universal basic income.

I think is the exact opposite OK think so. I think that. In order to train a model, you need access to information and the internet arent what I used to be in terms of being a source of information.

And so I P is becoming more valuable. You're not, I think, everybody, but this time expected on all the foundational models to have all this health care information. But if I 没有 clinic， i'm not giving microsoft or google OpenAI my I P because that's what brands me.

And so there's going to be a lot of money available there. And I think um that there that is GTA be a way got be a way to figure that out, right? First, how does I P work and how is the distributed and then how are we using IT? Just in general, we really don't know how we're going to implement IT or use IT or what the interface is going to be and know all that will be figured out by some kids somewhere.

So maybe just a rap mark. So these these next seven, fifteen years is IT about doubling down on these current things, making cost plus in huge like harvesting essentially? Or are you going to do new things?

Or is just the bar know when i'm gone? I wanted to say, mother, he did IT IT was expensive when we were sick and inexpensive, no more. And to me, that's the ultimate mission. Now it's fun to learn A I and you know build models and do all that stuff right. Um but when it's also done me that let me let me ask you .

a final final question that we've you've done a reality show just retired from that cashed out of three quarters of the mavericks checked that um helping people with uh the cost plus drugs and and saving people money. It's a pretty noble mission kind of adds up to you're onna run for president. No.

why not?

That would be a great thing to do. You've the boxes. why?

A trong .

years .

or now you would you even consider .

IT or if you were going to yeah right. Are are right. How would you process making that decision?

My kids hate of the idea. My wife hate of the idea. They want, you know, it's hard enough for them to have a Normal life as IT is. And that just takes a to a whole another .

you'd after run as a republican because democrats hate billions like you. Wright, a blue, made the first question, the first debate, this this worm knocked them out.

But let me just tell you this, and we don't have to talk more about politics. Artists don't exist anymore. They don't there.

There's fundraising vehicles and they have procedures in place. But this is Donald trump. He took over the republican party.

They do what he says. And calmly, Harris learned from Donald trump. Given credit, he has learned what worked for him. They're not stupid.

SHE has learned that he has got to be that personality that takes over, and they've got to do what he says. You ever heard a word from bernie or liza's Warren? And that's not unintentional.

SHE is doing IT her away. Now whether that you agree what she's doing, her her approach to win, everybody can argue that's what makes a market. But there are no political parties anymore in the idea of the the ideology of a party on the democratic side is no more in place than on the republican side.

Alright, so, uh, with that, my next got a shot this year.

What do you think? Yeah, I thought the train was great. I think .

I was very, I think his defense, but he, but with K, P, right? That's what .

they are doing. How do they mention with boston? And so, K, P, and can match up.

And that's why got a shot. You're saying there's A I think my next might get there saying you.

jim kerry.

have a lot in common and there is a chance. Alright, everybody, this has been .

another .

amazing up. thanks. I was awesome. Give me instruction.

I'll see a you guys and you and I don't mind argue that.

I know I I give you a and argue and you, I appreciate that. And yeah, I give you created for having fun with IT. I know too many depressed billionaire. I give you, I give you a lot of credit.

Yeah, I don't get that. And you know what? If you if you were when you were poor, you up on your rich, right? And just doesn't change anything. I would hope you do we talk about.

can still we can .

go there? You can ask you, right?

Two of my best days. Oh, has twenty five years you in elon, is this, uh, you guys just a goofy ing on each other? You got an issue with elan that's sincere or is IT just playful, fun rolling?

So two things. One, as an entrepreneur in lands like the shit of the ship, of the ship, right? There are a huge fan.

What he's been able to accomplish this insane, it's incredible. I would never diminish anything he's done as an trekker, as a twitter user. He's a troll and I mean, he just trolls to troll to trolls.

And every good roll deserves a foil, right? Somebody control back and IT just so easy and so much fun. Ah you now you know I get some of the underlying principles. I think this my mind like what .

he do you think about the first amendment principle that is zoo year of like radical changing twitter from like it's pretty control to, hey, anything goes. I think that's A I think .

that's a fear losing users. So I think that within the conservative community they are more joiners and heavier on social media users urt yeah .

purchase pant.

So they they subscribe, the more things they listen to, more podcast, the more active. And I think he recognized that, and that was a fundamental underpinning of why he kind of connected to them on the free speech thing because he still has his limit. Obviously, it's his platform and what he doesn't want doesn't get shown.

So I think that's why and I can't blame them. Um I wish would call me i'd help him on on his his revenue and all that. And then I think on the immigration side, here's my theory. You guys can tell me if you agree, you're disagree. I don't think he's anti immigration like he says your entire legal immigration um where anybody is in the country should be deported, I think as an immigrant himself and on second generation you guys you know immigrants at some level we all are but I think as an immigrant himself, he thinks that the number of illegal immigrants in this country and the hate that pushed towards them Carries over to legal immigrants including himself. And I think he he believes that by diminishing the illegal of the non citizens in this country and asking for their removal and improves the standing of the legal immigrants, including himself and so that kind of my theory on on both of those .

things interesting yeah it's a so different.

I don't think you need much with a theory to explain elon's use because he's just so transparent about what he believed. I believe that his core conviction and the reason I bought twitter acts is because he wanted to unlock IT as a free .

speech platform.

I don't know how much more money he can lose in pursuit of that.

See his way, way. I disagree. You don't take other people's money to do that. If people don't think he knew.

he didn't know that he would get boycotted by all these advertised.

Yeah, but he knew, he knew that I think he went in open eyes, Carried the sink in the door to to run IT with some improvements Operationally, what you did a great above. And to .

actually the cost structure, which J I were there on the first day, the first day he took over, there was an organized boycott of advertisers. They called him anti symmetric, which is ridiculous before he even had a chance. No thing about that site.

So i've heard from a lot of those spokes um and it's not so much OK when you talk about free speech, free speech applies to advertisers as well. They get to associate with whoever they want to no .

matter what. So so there are a exclusive to sort .

of organize .

organic .

mediately. But look, I for my own self.

right and why won't give credit for believing in free speech is great.

The first we have free speech. Look, i've always said people like get rid of the anti semitic. You get anti symmetry troops.

I get you know jillions of antisemitic c troops and you know in my in in my replies, just do none stop. I mean, i'm not why you know, my grandparents changed the name to from to bisque to cuban, not even intentionally. And so is always your your real me.

You just just the hate there is insane. And my attitude has always been, I want to know where the morons are. I have no problem with them still being allowed on the platform, but the trade off is for advertisers.

They don't want to be associated with that. There is no upside for being on twitter right now or x on right now. And you added at the point, kids thirteen years old can go on that site and you can find any and same thing you want on x right now.

And that also is a problem for advertisers, that part of free speech, but you got ta pay the bill when you are willing to accept that. I don't think he realized just how deep users will go in order to use their free speech, and I think that really surprised him. And so that's why I don't think that he bought IT specifically for free speech because I think he's always one of the things are really I don't know.

I mean, he said, he said before he bought IT that he was going to open up as a free speech platform. This is why, this is why the left immediately started boycotting him before he even changed one policy, check out, hold me out. You are there first fricking day.

There was a place, a free speech mission for him. I do think, you know, multiple things can be true. Mark, you are correct that if you have spicy content, advertisers don't want anything to do with IT, and they have choices.

And it's also one of the smaller platforms that have choices that have more scale. So that makes me even easier. And it's also true that their boycott him and specifically targeting. But all these things are happening at the same time.

And I think, you know, when you look at what he's done there will look at IT historically as this place that was very controlled and clean and owned by the press and the elites became this chaotic thing, but also ultimately, the one place where at scale, you can not be. And you if you look at cancellation as a concept, the number one place to get cancel with twitter, you said something even slightly off men, they came down on you. They destroyed you. And now that we've got rid of cancer culture, and people can say what they believe .

and people cannot .

know necessary, I would looked at as a beautiful thing that he gave to society. Gift will be looked at as a really chAllenge of business because IT was an end business that lost its advertising base. An apple and disney have choices.

I don't see the need here to look past or or to look for alterius motive. And what ell's elon believes in free speech is very clear. He's run the platform that way and it's cost in money. So what else could the motivation be? Accept this principles .

anybody was dict to? I can tell you that as .

the person who got I know but that's that's not .

why he's let .

me give you my .

counter to that you know Better than I do why you even have .

this debate who cares? I mean, I know I think .

is a free speech platform .

yeah .

that's fine. Obviously choice free speech by .

definitely to me this debate is is kind of point. But let's talk about actually the the issue. There's a new story this week where OpenAI just raised was a six billion and one hundred hundred years our valuation.

They originally started that enterprise with fifty million or so from elon IT was a non profit. Then they became a four profit. Now there's a report saying that they're telling investors in this round that they can invest in any other AI companies.

So they are acting like mean they have gone from profit panthry py to corona for profit company prety sharp and sharp output. Sam said he wasn't going to take compensation. Now is getting compensation time.

I mean.

what you think about this.

I mean, look, is their company, they get to do what they .

want two times pretences. I .

mean invest.

I mean invest. He gave my donley.

which leads to something I want to say very positive, about e participle, his genius and coming up and run in these companies. The one thing I I respect the most about elan mask, and he does more than anybody i've ever seen. And that is, he goes all in.

He doesn't just, you know, he takes every cent. He has. And he believes in IT, and he goes all mother in.

He never hedges his bag at all until twitter, right? That's why I say, you know, he brought in investors. You know, he brought investors to test and everything.

But initially he went all in himself. You know, I think with twitter, I think he was kind of surprised. But going back to OpenAI, I don't I would would do business with people like that.

And there are people who just look for what they think is the next big thing. And I certainly could have given the money, didn't give money. I said one of our fans that, I mean, did give the money originally, didn't give money another time to me, that just wrong.

And that catches up to you when people over investors and where IT always comes back. Commerce, a bitch in business too. Now you know, gami with google, i've done a lot of stuff with them.

No book is insane. Good german. I one point five is insanely good. Meta as open source on what they're doing is getting Better and Better.

There is no, you know that there's nothing that says that OpenAI is going to win, nothing at all. And so I don't feel bad about what they're doing. And to me, IT tells me they're more scared than anything by trying .

to restrict what people are doing yeah he says it's more a reflection of sam than anything else. Is is what you're up well, I mean.

that would be reflected in the fact that so many people who were the cofounder have left yeah that that's a really big red plan. But this thing is going to change the world .

and every all the cofounder ers leave.

I heard forty of the forty four cofounder. Well, I mean, if you also think about this business to moh and where is added.

sorry, where there are forty four.

Yeah yeah, yeah but I mean, if you you we did a joke about last week, but if you just look at the the competition set that they're up against, they're losing five billion a year. They're making three and a half. They put this thing at one hundred fifty billion. It's forty times, fifty times revenue to fill in that valuation on our Price of cells basis. You know this kind of crazy.

Here's the one thing that i'll say, and I think mark said this in a different way, but i'll just I don't think you can underestimate how companies like google, microsoft, facebook, apple, amazon will react when they feel cornered. And I think in in the last twenty or twenty five years, what you've seen as those companies, when they x against the all, they use money, their sharped l boat. But the consistent thing is y've won.

And so the real question is, do people look at the chart of the users? Because typically what happens is its users, what tilts these companies when something some upstart you remember when Snapchat was about to explode, there was a decision we're going to capture this company. Facebook effectively did that. They relegated.

Singer, singer.

there's many. So the real question is, when they see that this APP is gonna be a three or five hundred million mile, and they appear on some list with their bigger, then, I don't know, pick your favorite APP inside of matter, they freak out. And if they do freak out what they did.

oh, I can tell you that figure right now.

oh yeah, it's an it's an extension al ways to them and the case, I mean, look, microsoft, they bought three mile island, the nuclear reactor. They bought IT. Everybody is looking for the ankle and the crab party is really, yes. There used to be more slaw that everything followed, right? The Price performance curve all always went like this. You know, power goes up now because you don't know, you don't know what you don't know and what you need to do next as part of the chAllenge that um elon has the tesla in terms of full service driving, you don't know what you need to do .

next to get there to you.

I do and I do also I also have a care. E, V, I have a test. la. E, V.

and I, V, K, E V, do you use the F S D? And if so.

how is I? But I, I stop using IT just because I terrified me.

Because IT doesn't know what ever serial thingthat doesn't know because you know anything that's ever serial that the train on something it's seen and it's not smart enough to um figure out what IT hasn't seen a whether not is a risk。 And i've said this before, my my um four year old as many australian shepard, I can put IT in a risky situation to cross the street and trust IT across the street no matter what IT is. IT doesn't have to be pretrail. You can do that with a full service driving yet. And so until that gets to where he needs to be, where ever serial issues aren't an issue, i'm not going to fully trusted.

I have the twelve .

I mark .

talk to. So this .

has been over time with .

love this.

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Rainman give.

We open sources to the fans .

and just got crazy with.

the. roxy.

No.

you be 我。