Anthony Scaramucci: Elon, DOGE & America’s Fate Under New Leadership (w/ Salim Ismail) | EP #132

Summary

Highlights

• Anthony Scaramucci humorously defines a 'Scaramucci' as a unit of time in politics. ⏱️
• Elon Musk's political involvement is seen as a moonshot endeavor. 🌕
• There's a lively debate on the potential economic impacts of governmental austerity measures. 📉
• The possibility of significant constitutional amendments is discussed to address contemporary challenges. 🏛
• The podcast highlights the complex dynamics of U.S. politics and its influence on technology and innovation. 🎙

Key Takeaways

• The political landscape could greatly impact technological innovation and economic growth in America. 🚀
• Elon Musk's involvement in politics sparks curiosity and debate about his influence and intentions. 🤔
• There's a pressing need for constitutional amendments to adapt to modern societal and technological advancements. 📜
• The cryptocurrency revolution continues to gain momentum, with Bitcoin being a significant focus. 💰
• Government efficiency and reform are essential for fostering technological and economic prosperity. 🌟

Overview

Anthony Scaramucci: Elon, DOGE & America’s Fate Under New Leadership (w/ Salim Ismail) | EP #132 Transcription

• 00:00 - 00:30 hi everybody Peter D madis here welcome to moonshots in this episode we'll be diving into the department of government efficiencies Elon Bitcoin and the broader effects of the new Administration on technology I'm joined by previous White House director of communications and financier Anthony scaramucci and selem Ismael in our normal WTF just happened in Tech this week uh views expressed in this conversation belong to individuals expressing them my hope is that you are
• 00:30 - 01:00 open to this conversation and the many ideas put forward for the future of America uh you know me I'm not political I Am pro technology I Am pro creating an extraordinary World ahead for the record I'm excited about the coming four years and I believe it could be a true Roaring 20s like all things time will tell uh okay enjoy this episode all right first question everybody wants to know this mooch is Elon going to make it in the White House I mean I know you're friends
• 01:00 - 01:30 with Elon so you want me to be as honest as I usually am or what yeah tell me how many days do you think elon's going to exist in this uh this white house so you know for politics I measure things in 11-day units of time also called scaramucci okay so and you could use it in a sentence like Liz truss lasted 4.1 scaramucci right or Kevin McCarthy lasted 24.5 okay so I think Elon Musk is going to last in my opinion 30 scaramucci
• 01:30 - 02:00 that's 330 days from the inauguration that's that primarily because he's yeah it's yeah because because he is the richest person that Trump knows personally okay now maybe Putin and NBS are richer but they're governmental riches this is uh commercial riches and and Trump will bite I know this sounds crazy to people but Trump will bite his tongue at times but he heard Elon already and uh and you know you now we
• 02:00 - 02:30 heard Elon Peter right uh well he's already started heading towards uh towards Cole and regular gas cars because they're cheaper and more reliable what else how else has he done yeah so you're saying you're saying he heard him economically I'm talking about politically he teamed them with Vivic okay and so Elon is not an equal to Vivic I like Vivic I respect Vivic but they're not equals okay that was a trump move to stuff Elon little bit by the way
• 02:30 - 03:00 remember something I have is all of this on the record yeah of course I have the Trump theoda ring you know I you don't even diamandis you don't even have to buy the cereal okay and you don't have to dig into the cereal like when you were a kid to get the Trump deoder ring I have it and I'll give it to you what's it say okay so so you want you want to hear how it's GNA go and I I hear the details no this is moonshots and and and you know listen uh Elon in the White House is a
• 03:00 - 03:30 moon shot actually it's a Mars shot but I want to hear how it's going to go well first first of all you guys started the origin you have to start at the origin okay I don't know Elon you know Elon okay I obviously respect Elon I think he's a very incredible figure and a brilliant entrepreneur but but you have to start at the origin and it always starts this way you get punished by Trump Elon came to visit me he was on his knees okay you remember those tweets or you don't remember those tweets I don't so get punished by Trump what's
• 03:30 - 04:00 that I don't remember but I can imagine them I mean you know it's all no he was he was he was aerating he was eviscerating Elon in 2018 and 2019 and so because Elon was a Democrat okay and so uh the the the the game changed when Elon went to him and said I have to leave the Democratic party because they wouldn't invite me to these EV Summits which was a big mistake you know the UAW went to Biden and said you can't invite Elon to the EV summ and
• 04:00 - 04:30 Biden said okay no problem meantime Elon has got more EVS going than anybody else it was a colossal mistake why up why upset Elon but you have to understand it started an antagonism and this is how Trump's relationships go if you're in Trump's world there's one Spotlight it's on Donald Trump he's inverse Reagan okay so what was Reagan Reagan had a plaque on his desk and said you can get anywhere you want in life as long as you don't care who gets the credit Trump is inverse Reagan I get all the credit you
• 04:30 - 05:00 get none of the credit don't get too famous don't get too big for your Bridges or I'm going to hit you with a ray gun and that's what he does so you guys are pretty smart guys right I'm not as smart as the two of you but we all know that the definition of insanity is to do the same thing over and over again and predict a different outcome so let me submit to you rhetorically you both answer the question if there were 40 of us that went to work for Donald Trump and 40 of us got eviscerated in different ways and
• 05:00 - 05:30 blown out and interacted with the Mania that Donald Trump represents and then we spoke out against him and said the guy's nuts including his former Vice President are you telling me now the new group of people around him are going to have a totally different experience than the last group of people I mean people can change I mean people can change uh maybe just not that much so I am listen I I think the data so so I thought this was
• 05:30 - 06:00 like this is an S this is an unfiltered you know he's got a lot of economic interests here right you know I you know hey so question for 78 years old yeah I'm I'm I'm kidding guy 78 years old the probability is you're playing with fire um listen I I am so excited about the next four years uh from a technology standpoint which is by the way the you know the topic of this conversation this is our WTF just happened
• 06:00 - 06:30 we from technology so I'm with you I'm with you on that so can I ask you a question if you were going into this Administration not saying that you are but if you were going to go what title would you like in this Administration I I want I want sort of like a uh Secretary of abundance would be mine um Saleem how about you what do you want um I would go after the Doge thing just because I think there's an unbelievable opportunity to shift things just not in the style that's going on right now problem with the Doge
• 06:30 - 07:00 thing if you don't know what he saying austerity is a bummer and a buzz kill for everybody and so yes is there on the margin things can be cut and on the margin are the things that can be made more efficient I'm certain that that's true but I don't see $2 trillion doll in that budget cutting you know I don't see it and it it'll cause a colossal collapse in the US economy so I don't see that I mean we we could manage our way out of the debt crisis but that would be a 15-year management of it
• 07:00 - 07:30 but but I you know when he said you know Peter says Secretary of abundance I see that but like the best job the best job yeah would be Secretary of the Constitution that' be the best job is that what you want because because you you have to understand something your Prosperity your life as Peter diamandes yes has been created by that Constitution Okay you're from a family of Greek immigrants you came to the country I'm going to guess not as wealthy as you are now okay that's
• 07:30 - 08:00 probably true for most people and you're Italian immigrants yeah I come from Italian immigrants and and this country's flat decentralized system that's lasted 250 years you and me Saleem we are direct beneficiaries of that so if you said to me I was going into the administration which of course I would never be asked to go into this Administration uh I would want to be Secretary of the Constitution okay because in order to get the abundance right
• 08:00 - 08:30 we have to reframe the Constitution probably add at least two amendments to that Constitution and I'll submit to you guys because your technologists we are dealing with an old operating system that Constitution has 27 Amendments that Constitution should be amended every eight years by virtue of that we have had not had a significant amendment to that Constitution to the 1965 Civil Rights Voting Rights Amendment and so we've gone 59 years without a significant
• 08:30 - 09:00 amendment to the Constitution and that's very very dangerous that's not what the founders wanted and we need to reframe reset the boundaries of what our checks and balances are and we got to make the we got we we got to remake the system Saleem I'm going to jump you in here because you know you came from the two extremes right your family comes from India which is all about hierarchy and it's about you know where you were born B and you know what your origin story
• 09:00 - 09:30 the cast system is crazy and you then go to become a successful us entrepreneur so you've got far more the extreme of any of us um how do you think about that so I agree with um I I totally agree on the Constitution side if you could change it for me Constitution is the software that runs the country and you have to be able to update it the problem is in this political environment you can't update it very easily and you've got this whole segment of originalists
• 09:30 - 10:00 that are like oh let's go back to what the the framers were thinking and try and guess what they were thinking the problem is you can't and they built it in so that you would update the Constitution uh I totally agree that that's where a whole bunch of things need to start but how do you update it in this environment so I think that's a a valid starting point it was built this Constitution and this nation was built you know 200 300 years ago under a very different situation where people were not educated uh you couldn't communicate other than you know days worth of uh
• 10:00 - 10:30 horse piggyback horsing across the country uh we have a representative constit representative government and not a actual democracy um so I'd like to be able to vote on issues or assign my votes to to scaramucci here on things uh dealing with the Constitution to Saleem on things dealing with hair growth uh and uh and basically change the change the picture there low blow low blow I'm sorry I couldn't I couldn't um yeah I
• 10:30 - 11:00 think this is the biggest couldn't resist I think this is the biggest structural issue but I have a question Anthony when you look at the the debt issue um how do you see forget the politics of it is there any viable path to solving the debt problem yeah yeah this is definitely a viable path and you guys are close to Elon I'm not and if I if I tweeted this it's coming from me so it would be perceived as negative from the Trump Administration but let me give you some things to think about in the
• 11:00 - 11:30 Allan Greenspan book the age of turbulence which which was written in 2007 okay there was a a exposition of what the pay youo legislation was and so let me let me let me discuss that with you do you know what that is p youo with legislation I do not tell me if you don't know I'll I'll give a brief explanation so so Richard Dorman Office of Management and budget he's working for George Herbert Walker Bush he goes to Bush and says listen we had tremendous deficit spending under Reagan
• 11:30 - 12:00 we're we're we're we're going to have a peace dividend the walls come down we're going to have this peace dividend but we've got to create some guard whs on the Congress and so I'm going to propose legislation we got to get Democrats and Republicans to vote on it here's the legislation pay as you go if you want a tax cut that's fine but then you have to find something in the government to cut if you want a increase in Social Services that's fine but then you have to raise taxes somewhere and so Richard
• 12:00 - 12:30 Gart worked on this with them some Democrats actually lost their seats they passed this legislation and then we went to war accidentally the Gulf War we had a recession in the United States and they wanted to increase social services and so all of us remember Bush raised taxes pursuant to pay as you go read my lips no new taxes but he violated that right and he raised taxes okay when when Clinton won the presidency Bush said to
• 12:30 - 13:00 him listen we put this pay as you go legislation in if you adhere to it you'll run a budget surplus by the end of the decade and and Clinton said okay Robert Wright my old law school Professor wanted to run deficits he was the Secretary of Labor uh Robert Rubin my old boss from Goldman he said no go for the tax increase stick to pay as you go you'll send a big message to the bond markets and we'll get to a we'll get to a Sur Plus in this country so Clinton
• 13:00 - 13:30 listened to ruin uh at the end of his term we printed a $240 billion Surplus and just to remind everybody the CBO nonpartisan Congressional budget office estimated that there would be a $5 trillion budget surplus by the end of calendar year 2010 okay that did not happen uh you know and the campaign Bush versus Gore Gore said I want to push that money into the environment Bush said I want to give it back to the
• 13:30 - 14:00 taxpayers bush won the race he cut taxes in March but then guys we went to war in October of 2001 it's the first time in US history that we went to war without a tax increase in fact we had a tax cut before the war and it started this deficit trajectory that we're on now so if you want to curb that you have to restore pgo you got to get somebody like Elon Musk behind it yes he can shave a
• 14:00 - 14:30 point here or a point there off of the growth of these governmental agencies but if you actually put the guard rails in over time what will happen is you'll get to a surplus again now could it take 15 years selem yes it could but you would stop the exponential bleeding that we're in right now so I submit to you guys you can't cut two trillion from the budget it would be too austere it would cause an economic collapse but you could
• 14:30 - 15:00 put the country on a controlled diet what is the total budget today that you're cutting 2 trillion 6.7 trillion okay yeah so listen we're taking in about we're taking in about five trillion in tax revenues we're running about a 1.6 1.7 trillion Tron deficit one question uh which is do you guys agree that there is most likely two trillion of fat um and unrequired expense in the government budget that I I don't I do not I do not agree with
• 15:00 - 15:30 that I don't think you have that you think we can have you don't think we have to really cut entitlements or cut military could you could you cut six s% from the budget uh yes could you find3 to 500 billion of stuff to cut from the budget yes I do believe that you cut $2 trillion doll from the budget without without causing a colossal contraction in the economy no did you see the movie Oppenheimer if you did did did you know
• 15:30 - 16:00 that besides building the atomic bomb at Los Alamos National Labs that they spent billions on biod defense weapons the ability to accurately detect viruses and microbes by reading their RNA well a company called viome exclusively licensed the technology from Los Alamos labs to build a platform that can measure your microbiome and the RNA in your blood now viome has a product that I've personally used for years called full body intelligence which collects a few drops of your blood
• 16:00 - 16:30 spit and stool and can tell you so much about your health they've tested over 700,000 individuals and use their AI models to deliver members critical Health guidance like what foods you should eat what foods you shouldn't eat as well as your supplements and probiotics your biological age and other deep Health insights and the results of the recommendations are nothing short of Stellar you know as reported in the American Journal of Lifestyle medicine after just 6 months of following biomes recommendations members reported the
• 16:30 - 17:00 following a 36% reduction in depression a 40% reduction in anxiety a 30% reduction in diabetes and a 48% reduction in IBS listen I've been using viome for 3 years I know that my oral and gut health is one of my highest priorities best of all viome is Affordable which is part of my mission to democratize health if you want to join me on this journey go to vom.com I've asked naven Jane a friend of mine
• 17:00 - 17:30 who's the founder and CEO of viome to give my listeners a special discount you'll find it at vom.com Peter Saleem you know given where we are in the steepness of this curve we're going to talk about AI humanoid robotics Bitcoin a whole slew of other Technologies we have the ability to accelerate uh the US economy significantly I mean for me I think that we're about to enter a period of the roaring 20 that if we can stop if we can you know
• 17:30 - 18:00 really hit on uh deregulation across a number of Industries uh if we can increase our energy budget across the United States uh if we can give people who get their phds at our top universities a green card so they stay here we increase intellectual capacity of this nation uh that we can have a Renaissance that really drives uh the nation's revenues up and to the right in addition to Cuts I mean I think this is
• 18:00 - 18:30 the most exciting time ever to be an entrepreneur and a technologist I'm curious I mean do you agree with that that thesis um yes but I think there's so many structural issues happening like uh potential War I think there's there has to be a structured path a Glide path to balancing the budget because otherwise if we run up we keep running up dead and this is the problem that neither party dealt with in the election is The Unbelievable debt cycle CU that
• 18:30 - 19:00 that's an exponential curve in the wrong way it doesn't matter much else what we do is you'll you'll hobble the government and the country so much by doing that and the whole thing will implode that's the I think the danger that Anthony's pointing it yeah well it's never worked though I mean so the the idea has never worked the 14 years of austerity in Great Britain has left the country weaker and combined with brexit uh Ronald Reagan understood that FDR understood that uh austerity does not work and that type of radicalism at
• 19:00 - 19:30 the governmental level remember everybody says the government should be run by like a business I can prove to you empirically I can prove to you through history that the government should not be run like a business and it's not a business the government has to be run uh with a public service orientation towards policy and whether people like this or not the bottom rungs of the people in a society have to be protected by a government and I would submit to you that Henry Ford got this
• 19:30 - 20:00 right Henry Ford was a great social engineer he told people you are going to make enough money to afford the car that you're producing moreover I'm going to make sure you're in a small house with a great school system because I don't want you descending on my Dearborn Michigan mansion with a tiki torch and a pitchfork I just don't want that okay and so he understood that good social engineering from the government is aspirational my dad is a crane oper op Ator out here on Long Island with a good
• 20:00 - 20:30 union wage could afford a $16,000 house in 1962 and we could live it was a small little hallway kitchen one regular bath but five of us lived there very comfortably went to a good public school system and we Rose in America we had an aspirational bluecollar family governments have to protect that you know Trump got the salt deduction wrong and to his credit it wasn't his fault it was policy that was put on him by the
• 20:30 - 21:00 kooch family and by Paul Ryan but what what what he got wrong he now understands okay in December of 2017 when I was still talking with Trump he said what do you think of the salt tax deduction you know that and again that's a limitation of $10,000 of state income taxes off your federal return and what I said to the president at that time it's going to hurt the economy it's going to hurt the engines in the economy he said why is that well these coastal cities Santa Monica New York Philadelphia these
• 21:00 - 21:30 coastal cities need safety nets they're blue for a reason poor people are teaming into the place did Sergey Brin was he super wealthy when he arrived in the United States was Elon Musk a multi- gajillionaire when he arrived in the United States no and so what what you need from your government is you need a platform of equal opportunity we don't want equal outcomes the three of us I think agree on that we were Libertarians I want there to be Jeff bezos's Peter
• 21:30 - 22:00 diamandes Elon Musk but what we have to make sure though the government's got to supply a smart kid growing up in a poor neighborhood or growing up with a dysfunctional family at least has a shot at aspirational opportunity in America so for all of those reasons you can't run the government like a business and you can't take a hacks saw to the government if you do that you'll paralyze the system and it'll be very bad for the culture so and how do you really feel about that
• 22:00 - 22:30 you invited me on for Peter you invited me on for a reason you I did I did AB I love it listen so Trump trump Taps Taps uh musk uh to lead the Doge and then adds uh adds a buddy it's very funny one of the tweets that came out is oh my God you know Department of government efficiency uh is getting off to a bad start because it's being run by two people instead of one um how do you think think that's going to go it's not going to go well
• 22:30 - 23:00 there's a number of different reasons number one you have to understand something about Washington Washington has an immunological system yeah IE what's the immunological system and an antigen comes into Washington and they recognize it and then they blow the antigen out okay they discredit the person they drop opposition research on them or they grind them there's four ways to get grinded in Washington you want to hear the four ways I do okay way number one get an Oppo drop you get an Oppo drop
• 23:00 - 23:30 Peter diamandis here's the USB here's all the bad things about Peter's life go write that you ow I owe you a favor you owe me a favor let's get it on the front page of the Washington Post that's number one number two you grind Peter with a security clearance so you say I really hate Peter's guts let me call my buddies that are going to give him a security clearance and tell them that you can't get the security clearance they did that to Jared Kushner grinding grinding grinding okay no number three Peter has an asset on his balance sheet
• 23:30 - 24:00 that he has to dislodge okay to get into the government sometimes there's exceptions let me find the most painful asset on Peter's balance maybe it's his favorite thorough breed horse maybe it's his favorite hockey team and we say well Peter you got to sell that hockey team otherwise you can't be the Secretary of abundance right so they they have processes to grind you okay the fourth way is the front stab they come right at your face
• 24:00 - 24:30 and they say Peter we hate your guts here in Washington we don't want you anywhere near Washington okay now the Fourth Way never happens okay that's never happens that's a Wall Street thing okay so there's three ways not four but I just wanted to point out that the Fourth Way never happens okay so so they're going to grind Elon they're going to grind Vivic and remember the department of governmental efficiency is not a department it's never been created you would need a uh vote in the Congress to create that the Department you'd have to supply budget is it going to be a
• 24:30 - 25:00 cabinet level department and if it is then it there's a whole rigoll that has to go through in the Congress just ask the people that formed the Department of Homeland Security so you know this is this is not something that can happen easily and him teaming Elon with Vivic was a way for sending both of those guys out to pasture all right now they both they'll both probably be mad at me if they listen to your podcast and they' be like [ __ ] mooch what ises he talking about but I know fellas I have the Trump
• 25:00 - 25:30 decoda ring I know how the guy operates if you give me a call I can tell you what he's going to do how he's going to do it uh because it's fairly predictable it's a fairly predictable Trump algorithm do you think there's some softening between the first term and some of the rhetoric and and the second term where now he can set a legacy okay so that that's the Hope right so so let me let me say it this way the stock market believes that Donald Trump is going to run the
• 25:30 - 26:00 country as a moderate Centrist center right Republican stock market believes what Peter is saying you're going to get mild to massive deregulation beneficial to biotech beneficial to banking beneficial to crypto okay you're going to get policies that will ferment peace in the Middle East and the Ukraine he'll figure out a way to dial down the tension globally and the Market is telling you that uh the cultural stance
• 26:00 - 26:30 that Donald Trump has taken and don't underestimate the cancel culture in our society the negative impact that has had on people as evidence my friend Scott Galloway would tell you that uh men white men 18 to 36 have a 33% higher incidence of suicide than any other group of people okay and this cancel culture has really hurt the society and this is one of the reasons why you know women were voted for their husbands and they were voting for their sons and they
• 26:30 - 27:00 were voting for their brothers in the 2024 election 46% of the women voted Donald Trump over 50% of the white women voted Donald Trump when asked why are they doing that we're done we're tired of the cancel culure and the pronoun usage and the different bathrooms and the the sports being screwed up by this nonsense that we're doing in the country so so for me there is a shot here Trump 78 8 years old uh he's got four years to
• 27:00 - 27:30 run if he's going to respect the Democracy some people think he's not going to his rhetoric suggests that he may not but he's going to respect the Democracy why not run as a right why not run the government I should say as a transformative postp partisan figure he has this unbelievable opportunity 78 to 82 transform the country you know the guy got shot at I think on the 13th of July okay where nicked his ear or or
• 27:30 - 28:00 something like that um I don't know exactly what happened but he was bleeding he was shot at and it was a near Miss A near death experience God forbid no one would want that we don't we abore political violence but one would hope that that type of near-death experience would hopefully transform him maybe he'll sit there and say I've got four years I'm going to bring Peter in to learn about abundance I'm going to bring selem in to learn about a R preneurship and I'm going to push an
• 28:00 - 28:30 agenda that's healing and unifying to the country that could happen uh but there's another scenario that happens that could be ugly for the country and it would be sad if it happens what do you think is the worst case scenario oh I mean the unfortunately the worst case scenario is he takes the project 2025 Playbook and he begins a process of deportation so the the deportation would be cataclysmic I would hope somebody like Elon Musk who's a very smart man would get in his ear and beg him not to
• 28:30 - 29:00 do that because the deportation comes with SWAT vehicles armored vehicles concentration camps it's a it would be one of the bloodiest cultural exercises and it would ruin the welcome mat that this Society Presents Lee Quan Yu told Graham Allison the dean of the Kennedy School of government the founder of Singapore said that America will always be preeminent why do you feel that way because of the welcome met you can come
• 29:00 - 29:30 to America from any part of the world rich or poor you can arrive in America and in five short years you become an American maybe it's an indian-american maybe it's a Greek American maybe it's an Italian American but you become an American it's very very hard to do that in other cultures a result of which the balance sheet of intellectual Capital that can arrive in America is unlimited if you graphically Deport 15 million
• 29:30 - 30:00 people from America and again don't go by me that's what he's saying that's what Tom Holan is saying okay if you do that you will destroy the fabric of what this thing represents to the rest of the world I so I I agree with you but there are two sides of that equation right now we you know be careful you don't want to agree with me because I'm you know I'm I'm on the Trump enemy list about three days ago Trump said I was major loser on so truth social so
• 30:00 - 30:30 how much you think Trump loves me on a scale of one the I got that at a 9.5 right don't you I I agree with you talk I agree with you on the mass deportation I do believe there is a percentage of those individuals who are criminals who should not be in this country who we should be looking at removing them out of society I also think unfortunately that we send so many people back with a PhD that they earned at MIT or Harvard or Stanford and then they're exited from the country right it's it's perverse and
• 30:30 - 31:00 in reverse and so you know how do we stamp a you know green card or staple green card on those diplomas these individuals who come to the US to get the best education they you know there should be in fact not only a welcoming but like uh you know a requirement for them to stay in country and build their companies uh you know you know we have our our native uh Indian Indian here Saleem and we have you know the the CEOs of the top tech companies in the US have
• 31:00 - 31:30 come from India it's an incredible engine where we can attract those who have the aspiration and the drive and The Willpower to the United States we should keep those people here for sure so listen we we we agree but you have to understand something when the leader of the Free World and the leader of a country that Lincoln called the last best hope for mankind is using the rhetoric of d humanization on nonwhite
• 31:30 - 32:00 immigrants to the country okay when he's dehumanizing those people and he's talking about those people as US versus them and Vermin and they're eating dogs and cats okay it's very very bad symbolism for the United States it just is it's not that's not the symbolism okay that we should be projecting in the United States okay you can get Trump policies that you may like without that type of brutal rhetoric that creates Nazis walking around in
• 32:00 - 32:30 Columbus Ohio this weekend SWAT stickers getting sprayed on synagogues we don't need that Peter we do not need that I will continually speak out against that it's totally unnecessary yes it's a rough sport politics I get it but we don't have to go into the realm of hate speech we just don't have to do that I want to go into the realm of Bitcoin so uh you've got a book coming out on December 4th uh the little uh the little book of Bitcoin you just released um a
• 32:30 - 33:00 revision of the little book of hedge fund we're going to put a link in the notes here for your pre-orders for little book of Bitcoin and today OMG thank you for your help on it by the way you're welcome budy pleasure to have contributed in a small way um today we're at $94,000 per Bitcoin and Saleem the bet you took by mortgaging your house uh and spend spending it on buying Bitcoin good move buddy good move so uh
• 33:00 - 33:30 94,000 well my wife wouldn't let me do all of it but yeah well okay time to mortgage again um and put more in so here's a question right so Kathy Wood is predicting by 2030 we'll see 1.5 million to $2 million per Bitcoin I've seen higher and lower estimates um you know I remember this great cartoon that had a a father and a son talking and it said Dad do you remember when Bitcoin was under
• 33:30 - 34:00 $100,000 um you know and we're seeing that we're seeing this massive increase uh so mooch what's your prediction what are you feeling what are you seeing and let's talk about underlying forces here well the first thing I want to say is that U I didn't see it I got it wrong I went to this wonderful uh event at Singularity University and I heard Saleem speak and I heard you speak and you may or may not remember this uh but I think you wrote actually you contributed this to my book so you do
• 34:00 - 34:30 remember it I met Hal finny and he was describing to us what Bitcoin was and I don't know was it $100 s $200 I don't remember exactly what it was I didn't understand it yeah okay about okay $300 so I didn't understand it and so uh as Saleem said Michael sailor says you get Bitcoin at the price you deserve it took me a long time and and I and I finally finally got it I started buying it in October of
• 34:30 - 35:00 2020 November December aage price for the block yeah the average price for the block I bought was 177,000 I've held every every uh coin I bought more coins in the weakness into 2022 but the reason I'm starting with I didn't understand it is there might be viewers and listeners to your show that are our age Peter that may not understand it or they may be afraid of it okay so I appreciate you bringing up my book because I try to write a book The Way Saleem wrote that entrepreneurs
• 35:00 - 35:30 book you know 10 or so years ago about what it actually is so you could open the book it's not going to intimidate you you could read what it actually is and then maybe at the end of the book I would make the case this is the best investment of my lifetime and I would make the case that this is probably still got a 10x in it I would think it can get to the market capitalization of gold and I what I would say to people is I don't know anyone that's done the homework Peter
• 35:30 - 36:00 Saleem anyone that's done the homework that hasn't gone towards Bitcoin I I've never met somebody who said you know Peter I did a tremendous amount of homework on this hours and hours and hours and I wouldn't touch this with a 10f foot pull Paul tutor Jones Stan drucken Miller Howard lutnick I could name allegion of people Michael sailor Michael sailor told me and he'll tell you this Bitcoin is a joke that's what he said okay it was like 2016
• 36:00 - 36:30 2017 he started yeah early on he started buying Bitcoin in August of 20120 first Bitcoin he bought yep 2020 and then he you know he got into a conversation with my partner and says you guys have to buy some of this Bitcoin you know what he said once I figured it out I couldn't sleep I couldn't sleep once I figured it out I think his his framing of do 100 hours research on it and then see and it's really an Arbitrage on intellect and
• 36:30 - 37:00 studiousness is what it is that's a huge huge framing for me yeah so so so what I what I would say to you too okay and I would say to your viewers and listeners please give Bitcoin a chance okay and recognize like me Michael sailor perhaps the two of you and others we did start out as Skeptics about what it actually was and until we fully understood it we didn't gain confidence in it as being part of our Investment Portfolio can I
• 37:00 - 37:30 tell you a quick Sailor story before we go on to something else because you'll enjoy this okay I'll be seeing I call sailor okay so I call sailor and I say Michael I need you to write the introduction of my book happy to do it but I need the manuscript and I got to read the book I no problem I send him the manuscript he calls me late August and he says mooch I said yes sir he said you know I hate the last chapter of your book I said oh God what I'm looking
• 37:30 - 38:00 through the he said yeah he goes you say at the end of this book after you wonderfully explained this thing and I learned a lot in this thing actually a lot of stories that you put up the amandus contributions all different types of stories I learned a lot but your last chapter says that someone should put 2% of their money in Bitcoin let me ask you something how much of your net worth is in Bitcoin I said Michael 55% he said 55% okay he because you're 55% in Bitcoin uh so why are you recommending 2% let me ask you something
• 38:00 - 38:30 you say this is the best investment you've come across yes Michael do you have 50 other Investments that are as good as this I said no Michael then why the hell are you putting 2% I said because I have no balls and I'm under great regulatory scrutiny as a registered investment advisor so we rewrote the last chapter and now the last chapter Regals that story and I say I'm at 55 the I'm supposed to tell you to be at two but you should pick a
• 38:30 - 39:00 number that's good for you yeah it's my largest invest it's my largest asset myself Saleem uh where does it fair in in your portfolio yeah it's in it's for me it's in the 40% range 35 to 40% what I love about it is as time goes by the percentage of my portfolio represents inre the of your portfolio it's heaing up the percentages in your portfolio it's fantastic for for me uh the book by Jeff Boo the price of
• 39:00 - 39:30 Tomorrow is what nails it where he says the we're we're growing the global economy with 4X the debt per dollar increase in GDP and that just tells you everything you could possibly need to know and I love the back to the technology framing which is that when they floated off the goal standard they did not know that technology was deflationary and so more Advanced Technologies cost a lot therefore you could borrow $10 million build a TV Factory and a year later those TVs
• 39:30 - 40:00 should be worth more cost more but no the TVs are worth half as much a year later and if you borrow $10 million to to uh to chase after a deflationary technology you're never getting your money back it's a it's a good it's a good point I mean so there's so many different reasons to own it but but I I'm grateful for the people like Michael sailor who have been great evangelists of it grateful to you Peter you introduced me to it grateful to you Saleem uh I confess I didn't understand it uh and again if you're out there and
• 40:00 - 40:30 you don't understand it please listen to us and take the time to learn more about it you know Michael S and I were roommates at our fraternity together didn't you know that yeah MIT right you went MIT together right yeah I'll tell you some I'll tell you some fun stories when we're not on there um yes uh so so I look forward to that we we hit 94,000 per Bitcoin today pretty amazing right I was like can I move money fast enough a few days ago to get it at 90 no uh but the question is you know if my if my
• 40:30 - 41:00 head of Finance is listening um let's still move that money in you know when's the best time to buy Bitcoin now yeah today yeah to as fast as you can yeah and I have no interest in in it other than if enough people buy it the price goes up but that's a different story uh you know where is there any risk that you foresee you know we've talked about selem on previous episodes quantum computer breaking various uh encoding um and whether we
• 41:00 - 41:30 can get Quantum encryption up and whether that can work um you know you've made the point that satoshi's wallet which is now worth how many billions now 70 billion is the greatest no I think it's more because he's got 1 million tokens and we're at 94 it's 94 billion so you know you can think of that whatever when that gets hacked then it's time to work greatest X priz ever if you if you can achieve hacking Bitcoin you
• 41:30 - 42:00 get 94 million billion dollar but but hold on this is this is important distinction here is you could hack the wallet right you could get somebody's private key but that doesn't break Bitcoin right right so Quantum encryption may solve the encryption issue but it doesn't solve the distributed nature of the of the token so you you have resiliency at two levels there well here's what I here's what I would say to both of you guys I would say that um one thing that I would worry about and this is an existential thing
• 42:00 - 42:30 is we you know listen I I you you've got people in the Scandinavian region of Northern Europe preparing themselves for nuclear war okay and so we know that uh Vladimir Putin has changed his Rules of Engagement in terms of using a nuke and so you know if we're going in that direction it's going to hurt Bitcoin it's going to hurt other assets and it will put us in a situation an
• 42:30 - 43:00 unknown situation you know here's my question I understand if if the world was going to hell in a handbasket I would imagine that for some degree because you can't you can't eat your Bitcoin you can't eat your gold um it's better to have a farm but to some degree Bitcoin would seem to be the most protected asset across National boundaries and why is why isn't uh disruption in economies and governments
• 43:00 - 43:30 increasing the price of Bitcoin for security purposes so it's not it's not it's not about increasing or decreasing it it's about your quality of life and it's about your ability to use it if you needed to use it because if you've destabilized the global order to the point where we're irradiating each other on the planet that is an existential threat to every part of your asset portfolio and that's an existential threat to your standard of living and
• 43:30 - 44:00 your great- grandchildren's standard of living and so we've been able to avoid this since uh the 1940s because there have been rational actors in control of these warheads and uh you can't you have to pray that a regional conflict you see the the Europeans see the conflict differently than us guys when you go to the European capitals what do they say to you well you know Hitler walked into Poland in no in sep member of 1939 okay and it took one year but he
• 44:00 - 44:30 ended up in France and he ended up in ended up in France in June of 40 and he ended up bombing the UK in September and what I would say to you guys Finland and Sweden were not members of NATO for 74 years yet in the 75th year they raised their hand and said look we'd like to join NATO and so there's a there's a there's a threat going on and if that threat is nuclear okay yes maybe your Bitcoin would go up
• 44:30 - 45:00 uh because of the instability Peter and I accept that but you're going to have so many problems and I'm going to have so many problems alen the people listening okay we have to to get to the world that Peter wants uh and you've written some amazing books about this and I often cite your books but to get to that world of abundance and get to that world of technological advancement where we're deepening the wealth of everyone and I'm talking about lower middle inome people everybody's LIF
• 45:00 - 45:30 improved uplifting all of humanity the first thing we have to do is not kill each other that's the number one priority so if you we have to be engaged in civil discourse rational discourse okay the the bellicosity of Donald Trump's rhetoric is not beneficial it just isn't we can pretend that it is and we can make allowances for him but we can't do that any more than we can accept that we're going to lower the threshold for nuclear weaponry
• 45:30 - 46:00 deployment in Europe or potentially in the US you've got people on national TV in Russia talking about blowing up L everybody I want to take a short break from our episode to talk about a company that's very important to me and could actually save your life or the life of someone that you love company is called Fountain life and it's a company I started years ago with Tony Robbins and a group of very talented Physicians you know most of us don't actually know what's going on inside our body we're
• 46:00 - 46:30 all optimists until that day when you have a pain in your side you go to the physician or the emergency room and they say listen I'm sorry to tell you this but you have this stage three or four going on and you know it didn't start that morning it probably was a problem that's been going on for some time but because we never look we don't find out so what we built at Fountain life was the world's most Advanced Diagnostic Center as we have four across the us today and we're building 20 around the
• 46:30 - 47:00 world these centers give you a full body MRI a brain a brain vasculature an AI enabled coronary CT looking for soft plaque dexa scan a Grail blood cancer test a full executive blood workup it's the most advanced workup you'll ever receive 150 gabt of data that then go to our AIS and our physicians to find any disease at the very beginning when it's solvable you're going to find out eventually you might as well find out
• 47:00 - 47:30 when you can take action Fountain life also has an entire side of the Therapeutics we look around the world for the most Advanced Therapeutics that can add 10 20 healthy years to your life and we provide them to you at our centers so if this is of interest to you please go and check it out go to fountainlife decom back Peter when Tony and I wrote Our New York Times bestseller life force we had 30,000 people reached out to us for Fountain life memberships if you go
• 47:30 - 48:00 to Fountain life.com Peter we'll put you to the top of the list really it's something that is um for me one of the most important things I offer my entire family the CEOs of my companies my friends it's a chance to really add decades onto our healthy lifespans go to fountainlife decomp it's one of the most important things I can offer to you as one of my listeners all right let's go back to our episode there's this America First
• 48:00 - 48:30 approach um Anthony that is for me a threat to the Hony of the dollar right because if you stop being the world's policeman there's a higher chance that people stop using the dollar do you see that correlated and do you see that as real thre of course I see that so of course I see that correlated I'm going to recommend a book to both of you called America first it's by HW Brands and America First is the first America first movement which was a hostile uh movement started
• 48:30 - 49:00 by Charles Lindberg and uh father Coughlin UI long and anytime you move in that direction you create legal instability okay and so if we're going with America First and the America first movement challenges the system this unbelievable legal system that's very predictable in the United States the property rights of the United States you know you you you have imp imp impractical and unpredictable property
• 49:00 - 49:30 laws in places like Russia and China because you don't have a dispassionate legal system okay and so you don't have the legal precedent to protect you no matter who the ruler is and so if you move in that direction you lose dollar hegemony and let me provide a quote to you from the Leviathan 350 years ago Thomas Hobbs wrote The Following paragraph and I'm paraphrasing but you'll get it what hob said that the world has its greatest level of Peace
• 49:30 - 50:00 when one hegemon when one hegemon with military superiority over the other nations uses the force of its military might to put down the interent conflicts around the world so other words it's a Force for good pox Romana pox brania whatever the vagaries are of the colonialism stuff like that I'm just talking about the military suppression okay pox Americana and so what hob said 350 years ago they teach at West Point
• 50:00 - 50:30 and they say that we need to be a force for good you know when Trump was talking about the why aren't they paying their fair share uh I was on the campaign plane with him in 2016 I said Mr President I want to provide some historical context our military leadership actually did not want them to pay their fair share and he look at me what the hell are you talking about why is that they wanted military had gmany they wanted military superiority they
• 50:30 - 51:00 did not want Germany or Japan to rearm after the second world war and so even though we had that treaty in 49 related to Nato they allowed them to have that laxity so that we could be a form factor of 10 over the other people because we saw ourselves rightly or wrongly as a benevolent democracy okay and so yes that whole idea that rhetoric threatens that
• 51:00 - 51:30 position okay and so so that's why I want to be Secretary of the Constitution I think I think that world uh safety and uh predictability and stability I think no everybody believes that is uh is key let me share this uh this quick video here this is so Anthony you're going to be on stage with me in March at the abundance Summit uh we have a 2hour session on big honor to be invited there thank you a pleasure buddy uh and and Kathy Wood's
• 51:30 - 52:00 going to be with us as well at the summit uh in in early March let me play this quick video of Kathy and let's talk about it we have a 2030 Target in our base case it's around $650,000 in our bull case it's uh between1 and $1.5 million uh now remember we were the first public asset manager to gain exposure to Bitcoin in 20 5 at $250 and we still at 90,000 I think we
• 52:00 - 52:30 have a long way to go all right thoughts well you know I I not only agree with her I admire her because she was shaken to the core by the financial media in 2022 and she was unwavered and I'm also an investor I will fully disclose you I'm an arc investor and so I have a lot of admiration for her but I want to point out something to you what she's talking about is in significant in terms of the overall global market
• 52:30 - 53:00 capitalization of assets so let me just explain that quickly let's let's do that let's do that that's important let's use the $18 trillion number which is what the total capitalization is of gold and let's stipulate for viewers and listeners that gold is perceived as a store of value by people around the world okay but there's you know tens hundreds of trillions of dollars of it do you still own gold do I own gold I I don't own gold I don't own gold but many people our age Peter do own gold gold is
• 53:00 - 53:30 at an all-time high and I went back in 2008 uh this is pre my abundance mindset exponential mindset 2008 when the economy is being hit by the housing crisis and all these Predators will call you up and say hey you need to buy gold you need to buy gold and have it available and so I bought like you know a few ounces of gold just to have them in the safe so that if I ever if martial law came in I need to
• 53:30 - 54:00 go and and trade gold for uh for you know food that was available um and you know I went on I went on TV was I forget what it was CNBC I think in 2014 and 2015 and say sell your gold by Bitcoin um and I wish I had sold even more and bit and bought only Bitcoin uh so $18 trillion and what's the what's theal market capitalization of of Bitcoin today Al so so so it's 1.9 trillion M
• 54:00 - 54:30 yeah just about two yeah okay I'm just under two okay so we're you know forgive me because I'm this thing's updating every moment but let's say it's one 1.9 for the sake of this argument if it goes 10x it becomes an equivalent in the overall asset tabulations of the global Capital equivalent to Gold yeah and so you know we know that Tech technology the portability the immutability the
• 54:30 - 55:00 scarcity of Bitcoin uh it it should trade to a higher multiple than gold and that's why Kathy's saying her bll case one and a half million you know would get you to the $25 trillion number but here's the thing I would tell listeners at 18 trillion it's not even a pimple on the ass of the global economy does everybody understand that yeah gold has a 1 2 3% asset allocation big deal central banks own gold but we're talking
• 55:00 - 55:30 about something at $18 trillion that is a nonevent in terms of the overall Capital allocation but let me tell you what's going to happen because I've spent 35 years on Wall Street less my 11-day Fiasco in Washington but let me tell you what's going to happen okay these people are going to sell this idea to their investors the Great Wall Street Sales Machine we suck at so many things on Wall Street fellas but selling is not one of them okay and there are Legions
• 55:30 - 56:00 of financial advisers there are Legions of financial consultants there are PowerPoint presentations coming out of fidelity and black rock and PowerPoint comment coming out of Galaxy that are absolutely legendary and you're going to get people off zero yes okay now before you came on Peter selem told me and I don't know the answer to this but selem told me that he thinks a 20% of the Bitcoin has gone missing as a
• 56:00 - 56:30 result of early adoption somebody lost their hard drive somebody lost their laptop so I don't know let's say that's three and a half to four million Bitcoin so you're telling me because we've got to mind it over the next 100 years let's say there's 19 million that we think is out there 4 million is gone we have 60 million global millionairs we have 15 million Bitcoins so you know
• 56:30 - 57:00 you tell me what's going to happen Okay I believe that this asset will trade to that million and a half dollar number and if you get the regulation right in the deepest most liquid Capital Market in the world the United States we have a very friendly crypto Congress coming in and a crypto president okay I think this stuff happens fast and can I say one last thing is very important we're at prices right now that we should have been at in January of 22 this got
• 57:00 - 57:30 suppressed by Gary Gensler you had a approval of the Bitcoin Futures ETF the administrative law required you to approve the cash ETF right away we didn't do that we had to have a lawsuit with that man and here we are now all right so let's react to this Washington Post headline here Trump eyes Pro crypto candidates for federal financial agency um do you know these folks here Anthony
• 57:30 - 58:00 what do you think of them I do I know Hester very well I know Dan Gallagher I've been on television with Dan Gallagher uh Christian Carlo has come to my conferences I worked with the man Gary Gensler uh at Goldman Sachs uh Paul Atkins is U actually one of my best friends from uh uh uh high school went to law school with Paul Atkins so yes I know those people very well we know that Gary is obviously um you know surprising
• 58:00 - 58:30 because he did teach a class at your alma mater that was Pro Bitcoin Pro proc crypto but he decided politically he needed to be anti- crypto one will someday have to ask him why because he knows the tech the promise of that technology but those other people will be very good for the industry and here's a Fox News uh article here it at Pennsylvania House introduces Bill to implement a strategic Bitcoin Reserve talk about this one so this is uh Monumental on so many different levels
• 58:30 - 59:00 because what they're basically telling you is that this is going to be important strategic asset globally and they are looking at this thing and if if Kathy Wood is right and I believe she is you're going to buy a dollar uh at six cents right now if that thing goes to a million dollars I predict it will you can buy it at 9 cents 90 or or 0.94 cents and so yes I I I I think that will
• 59:00 - 59:30 be the first of many there will be a Avalanche of corporates an avalanche of sovereigns an avalanche of states that that do exactly that and by the way the state of Wisconsin this is a beautiful story they put $150 million into ibit the Black Rock ETF and then the guy was asked well why the hell did you do that he said Hey listen if you're not long Bitcoin you're short Bitcoin someday some Consultants coming into my office and they're going to tell me that I need
• 59:30 - 60:00 to own stocks and bonds and hedge funds and private equity and they're going to say you know you need a one or two% position in Bitcoin and I'm going to be like short Bitcoin why not own it now and so when they eventually get there I've already got my position at a lower cost basis and so that's that's also happening guys yeah s where is this going in the long term the stat I saw that I loved was if if you put 1% if 1% of the fortune 1000 puts her treasury in Bitcoin just that drives it to a million
• 60:00 - 60:30 dollars of Bitcoin yeah and I think there's a bigger picture here which is that there's about 600 trillion in global assets about half of that is real estate Y and so in that um Anthony's absolutely right this is like gold is still a couple of percent on that it's on that it's a DOT uh on that whole picture they said it was opport pimp on the ass of the economy graphic for you I'm trying to be I'm Canadian so I'm a little more polite um is is that you can you can it's just
• 60:30 - 61:00 got so much range to go and in the absence of anything else a true uh deflationary limited uh scarcity model like this gives you unbelievable upside and again 15 years later nobody's found a way of hacking it and even the guys that I know that built Cosmos and built ethereum and so on are like you know we first hated at the proof of work thing so we built proof of stake networks now we see the proof of work as a really powerful Foundation because the act of doing the work just gives you so much confidence in the foundational aspects
• 61:00 - 61:30 of it so just watching the the the kind of T the the Domino's topple everywhere that I can see around this it's unknown to the majority of the people okay I went to a 35-year reunion at Goldman Sachs I started there in August of 1989 they gave me five minutes minutes to speak I said guys I just want to do a survey how many of you in this room own
• 61:30 - 62:00 Bitcoin nobody how many of you have kids that own Bitcoin maybe three or four and there was 150 people in the room and so it's so early and it's so scarce okay and then when somebody says it's rat poison Buffett says it's rat poison it's rat poison scare but ask him has he done any work on it does he understand the technical properties that you've described does he understand
• 62:00 - 62:30 where it fits in terms of the Neil Ferguson checklist of how we think about money and stores of value okay this thing is technologically perfect for that and that's not my quote that's Michael saor uh and I'm just saying but people what you just said there's only 5% Global adoption this is where web 1 was in 199 9 what you just said 95% of the available
• 62:30 - 63:00 investors does not know let me give an example here yeah no problem I I talk about uh what I call the 6ds which is a way to think about and predict the impact of technology on different Industries um anything you can digitize enters a period of very slow deceptive growth and eventually disrupts and along the way it dematerializes it demonetizes and it democratizes right so we've seen that the first uh 3D uh printers were these
• 63:00 - 63:30 little um crosslinking uh with ultraviolet light stereolithography and it was very slow and very deceptive in the beginning and now we're 3D printing entire Rockets we're 3D printing homes you know it's disrupting Industries uh you know the Kodak digital camera that was uh that was devised in Kodak Labs um was you know 01 megapixels originally then 02 then 04 and 08 all look like zero and
• 63:30 - 64:00 Kodak ignored the digital camera and it put them out a business when it digitized you know and dematerialized and then democratized where you know these things we have happy snaps now in the trillions um and so what we're seeing here is that Bitcoin is in the same area it was deceptive in the very beginning right when it was going for you know pennies to Dollars to 300 bucks it was insignificant well guess what it's now at $100,000 almost there it's becoming disruptive and it has
• 64:00 - 64:30 dematerialized our financial systems dematerialized Banks and Traders and uh exchanges uh and it is being it's democratizing access so I I think this is just one of the normal transitions that we're seeing in this exponential growth curve across Industries Sim I am curious a decade from from now uh is is Bitcoin um something which is uh what
• 64:30 - 65:00 nations are basing their reserves on what companies are basing the reserves on how fast are we going to see this transformation and there is a uh there is a point at which it flips in which you need to have uh what you're doing based on on a Bitcoin um platform when do you think that's coming every Treasury in the world is looking at this now right and every fed and every Central Bank they canot look at it some
• 65:00 - 65:30 point the braver ones will start over and then you're right there'll be a flipping point and then the whole thing will go um I was asking Jeff Booth about this right because the key question is when do we hit that little Tipping Point he's like which snowflake creates the final snowflake that has the Avalanche come down um it's hard to predict that one all you know is the Avalanche is going to happen and so you basically bet on the Avalanche uh on that sense I think think this is uh I would take I would say it takes about another year or
• 65:30 - 66:00 two in the middle of some of this uncertainty we're dealing with and people go oh my God I have to be in it and then it'll just start a Cascade from there that's my rough guess you know I I I I agree I guess the only thing I wanted to say from a example point of view is you are going to have a permissionless based transfer of wealth system and so when I went to Rome for the first time I was 21 it was 39 years ago I waited online at the post office to buy a calling card to call my
• 66:00 - 66:30 mom it was $15 US okay and it gave me five minutes of calling time $3 a minute now I can go to Rome I can log into any internet cafe and I can FaceTime my mom for no dollars a minute or any Wi-Fi and so to understand what yeah so what's going to understand understand what's going to happen you have $7 trillion do that we're spending globally to verify
• 66:30 - 67:00 transactions to codify transactions credit card fees wire fees all different types of ancillary third-party verification that ends with this cryptology that ends with this blockchain and said differently uh two guys came to see me from El Salvador economic advisers to the president they said if we can set up a wallet to transfer we have 15 million expats in the US they want to send money to their
• 67:00 - 67:30 P parents or family they've got to go to Western Union 10 cents on a dollar goes to Western Union so if a thousand they're all unbanked guys they're all unbanked 10 cents goes to Western Union 90 cents goes to Mom and Dad they would save $400 million a year with a wallet to wallet transfer okay over the blockchain so you guys know because your technologist when it works better it's more efficient and it saves money it gets adopted and even
• 67:30 - 68:00 if the government doesn't like the government hated government hated Uber who liked Uber the people liked Uber yeah I I I talk about countries that made Uber illegal as the anti-technology Nations you don't want to start your startup in um we are seeing uh can can I do a quick Side Story on Uber just for the of course just for the heck of it of course yeah I'm going by the way I have I have I have Travis the the founder of uber
• 68:00 - 68:30 he's going to be at speaking at at abundance 360 as well um and we're going to be talking about moonshot so you'll have a chance to ask them or tell these additional stories so so a few years ago one of my community members says hey can you help me I've got a meeting with the finance minister of France uh and I would love some guidance I'm like yeah what's he want to meet about he says yeah he only he's got one question which is how did you shut down Uber because the the taxis go on strike the buses go on strike the airport goes on strike the president yells at him his life's a mess
• 68:30 - 69:00 so he's like I need to figure out a way of shutting down Uber so we did five minutes of research and around Paris you have the bonu these suburbs of North African uh horrible drug crime infested neighborhoods it turns out the French government has spent $40 billion over the decades trying to solve that problem with zero outcome except over the 18 months previous because of uber crime rates have dropped 10x because they're all out driving so so this guy's trying to shut down the thing that's saving him a $40 billion
• 69:00 - 69:30 problem and those are the little ancillary benefits that people don't see when you see this type of systemic change it's incredible how do you think about the age curve for Bitcoin adoption Anthony um I'm you know is it something that younger uh adopt it faster is it a a generational issue right now no no question our generation me and you okay
• 69:30 - 70:00 I don't know how old SIM is but you're an old bastard as Am I by the way you look fantastic what what are you you gave me 10 years ago you I'm 95 years old I think I look great for 95 okay you're amazing and by the way I you know my face is pinned back selem my face is pinned back like Joan Rivers okay I've got enough I've got enough Botox in my face to kill a snake you follow what I'm saying but but I but I I am taking the Peter Damon's cocktail of supplements that he suggested to me about eight years ago
• 70:00 - 70:30 just so you know um but but but I I think our generation is going to miss it frankly again like I said 6% adoption globally uh if you're 60 you're not buying Bitcoin 20 years from now at 80 and I think our generation is going to miss it some people will get it there are people in our generation Howard Marx told me he hated Bitcoin uh obviously the COO of oak tree multi-billionaire but his son got him into it so there will be a group
• 70:30 - 71:00 of people from the 30 years Junior to us that knock on the melons of their parents and say hey I don't know what you're doing but you have to have some of this in your portfolio I asked my mom God bless her she's 88 and I said where are you putting your distributions and uh you know show me your portfolio I said you got to put it into Bitcoin um Mom please do that and she calls me back and she says my financial adviser Stanley wouldn't allow it and they don't have a mechanism for doing it and I'm
• 71:00 - 71:30 like that's that's immoral I mean it pisses me off I said change financial advisors you know there's something happening in the younger generation that is really fascinating because I've been dragged into this entire nft world over the last two three years and you sit in these Discord channels where they're trading nfts and now trading ordinals and whatever and what's fascinating is you never ever ever ever hear the word US dollar it's all ethereum or it's all Bitcoin so the unit of account for this next generation is not tied to the
• 71:30 - 72:00 dollar for us and everybody older than us we only thing we ever knew was the dollar and therefore there's something really big because a mindset shift is that that state change is going to allow them to be flexible as to what they view as where their stores of value are I think that's a game Cher for the Next Generation I have a question for both you guys I I agree with that you go ahead yeah so I remember in 20177 uh as as Bitcoin was peing back then uh everybody was buying and trading
• 72:00 - 72:30 shitcoins 24 hours a day right it was and I I looked in my uh my treasure um you know hard wallet and said I have all these coins you know half are dead a few are still sort of like uh barely alive uh what do you think about anything other than Bitcoin what do you think of ethereum what do you think of other cryptocurrencies uh is there anything else worth looking at you know so listen I I I'm a big
• 72:30 - 73:00 believer in salana as a as a utility token as a layer one utility token it's uh it's got properties I like it's very fast low gas fees it's easy to build on it has a big tvl big community and I imagine a day uh to s's point about uh we lived in a dollar-based world but now our kids don't live in that world old I'm going to imagine a day five years from now where this phone that I'm holding is
• 73:00 - 73:30 going to have a tokenized version of my Disney stock a tokenized version of Walmart a tokenized version of Starbucks it'll likely be on salana I walk into Starbucks and they say to me hey we're having a share repurchase going on here and so that $400 coffee we're going to give it to you for $3.50 but can we take a sliver of your stock out of your portfolio from your phone or the same thing could be happening at Walmart or Home Depot and I think that stuff is going to happen on ethereum or
• 73:30 - 74:00 salana okay but I like salana better because I just think salana is a better mous strap for Speed and for cost now you guys know there was asjes there was altta Vista there was all kinds of search engines to get access to the internet before Google showed up and so maybe I'm wrong maybe there's something out there that's going to be a better op operating system than them but I do think that over the next 10 years I think they will do well s how
• 74:00 - 74:30 do you think about uh e yeah yeah I agree I've got a I've got a slight extension to that which the what I'm hearing right now talking to the various folks in the in the crypto trading world is you're going to have Bitcoin for being safe you're going to have meme coins for gambling and the utility tokens become less relevant from a gambling perspective but much more relevant from a a solid bet on certain use cases as Anthony just mentioned so I
• 74:30 - 75:00 think you end up with three categories meme coins to do you know trying to get 100x on something the utility tokens where people are excited about file coin because of that use case or salana for payments or whatever and then Bitcoin is a safe place to be yeah it's worth noting Dogecoin searched 150% since the election day right so uh you know Dogecoin spikes after Trump announces Department of Doge yeah well I me you know that's Elon I mean that's his gift you know what I mean listen I
• 75:00 - 75:30 mean the guy is a a brilliant guy he's going to out AI all the AI people you know he's gonna he's going to out bore the tunnel people you know but he's done it over and over again he's done it over and over again no no he's the man listen he's he's the man I guess my only thing with Elon I'm not a friend of his but my only thing with Elon we all have blind spots in life and you are an ancient Greek Peter and you know that the gods have gifted us with many different
• 75:30 - 76:00 things but they take certain things too from us and I'm telling you you got to be very wary of Donald Trump because he HT a lot of people a lot of forget about me there's a lot of people in his wake and Elon has got a great life he's built some amazing businesses and I know he wants to help the country I wanted to help the country and I wish him well and I hope he'll be unbelievably successful but you got to be careful uh in the midst of that man real quick I've been
• 76:00 - 76:30 getting the most unusual compliments lately on my skin the truth is I use a lotion every morning and every night religiously called one skin it was developed by four PhD women who determined a 10 amino acid sequence that is a cytic that kills scile cells in your skin and this literally reverses the age of your skin and I think it's one of the most incredible products I use it all the time uh if you're interested check out the show notes I've
• 76:30 - 77:00 asked my team to link to it below all right let's get back to the episode by the way I think it is worth noting that elon's points of view here I he honestly believes them right I don't see these as maybe I'm naive but I don't see them as manipulations I mean he honestly believes that uh you know X was required to uh enable truthful conversation the honesty believes that Tesla is important for a global electric economy that uh
• 77:00 - 77:30 that SpaceX is going to make us a multiplanetary species um he's got enough money he's driven by doing things that he finds meaningful and so I was surprised by his jumping into the election as much as he did I mean he bet everything he went all in well I mean listen again he helped Trump tremendously particularly in Pennsylvania uh and uh and I want him to help Trump you know I I hope I hope Trump listens to him you know the problem with Trump though if Elon gets a
• 77:30 - 78:00 little bit more famous than him blah blah you know he's going to hit with the ray gun that's what happens you know Trump said something the other night and I laughed he was at the America polic America First policy Institute dinner and he said Bobby Bobby you're getting more famous than me Bobby don't get too famous and that's that that that's the sentence before he hits you with the [ __ ] ray gun you know I mean that's the sentence you know and I I I've seen him do it to so many people you know so I hope I hope that doesn't Happ you know JD Vance since the
• 78:00 - 78:30 election look at me JD are you down there JD where are you JD cuz JD's smart he's like this is Trump's show let me get the [ __ ] out of here man JD you want to do an interview no no I'm good JD where are you JD uh he's got the [ __ ] Waldo hat on now Peter you know what I'm saying where's Waldo wow um you learned a lot in those
• 78:30 - 79:00 11 days didn't you but remember I work for him for nine months I traveled around on a plane with him now I remember when when your son you know and I you know used to really piss off Ryan spr your Greek friend Ryan spr used to really piss him off because the way I'm talking to the two of you I would talk to Trump like that and prus didn't understand that cuz he was like a major you know ass kisser and he was like how the hell is he talking to Trump like that and the truth is we're New
• 79:00 - 79:30 Yorkers you know I have I have a framing I'd love to bounce off you Anthony which is you know in in an Ideal World you end up with win-win outcomes and my concern with um at least the way Trump has been in the past is there's no win-win everything's win- lose and if you play the game you're going to lose so best not to play the game would be the would be the outcome there and that's why lots of very smart people don't want to get involved do you agree with that don't agree with that well yes I do agree with that but I don't agree with that very
• 79:30 - 80:00 smart people don't want to get involved because elon's probably the smartest people one of the smartest people on the planet people are intoxicated to get involved and if I will tell you guys and I will confess this to you and again going back to the ancient Greeks right my pride and my ego will be my mortal enemy and so my wife hates Donald Trump almost as much as melan hates him and that's like [ __ ] way up here Okay and like crazy hatred and and she told me not to do it but I did it
• 80:00 - 80:30 because I was my ego talking I needed to go work for the president I I built a I built a business I went to Harvard I got to go work for I got to work in the white house and there were there was a guy I can't tell you his name but you would really respect this he got a big appointment and he called me in December and he said I'm withdrawing my name I said what yeah I'm en drawing you I met with Trump three or four times and it dawned on me that I'm going to get hurt and this is going to hurt my family and
• 80:30 - 81:00 uh I'm putting my ego in the right place and I'm pulling myself out of the position and I was like wow this guy so stupid how could he do something like that he was right Saleem I was wrong he was right and sometimes the big lesson in investing the big lesson in life get your pride and your ego out of your decisionmaking you know be be self-aware you know my wife said to me you and Trump on a campaign no problem
• 81:00 - 81:30 two jackasses going back and forth with each other him as president of the United States you working for him you're going to be in a nightmare okay because you know he wants now sick of there's nobody talking to Trump the way we're talking right now nobody nobody I tell I believe I know a lot of people that are still working with them they call me all the time there nobody sitting there with the straight shot to really have the hash out all right I'm I'm I'm going on to next subject here uh We've covered this
• 81:30 - 82:00 one before and and in full respect we've crashed it to death um RFK coming in Health and Human Services uh Reinventing our food system our medical system our health care System I mean first of all uh our food system is killing us let me just put that on the record I think it we are uh we are being destroyed we're being manipulated the fact that kid cereals don't have black box warnings on them for the amount of sugars in there is just is pathetic um and just cheap
• 82:00 - 82:30 salty sugary foods for the poorest it's it's sinful for us to have that as our our Baseline uh and we need a reinvention of the entire Health Care system so uh how do you think RFK is going to uh going to serve and and fair in this that's the first question the second question I want to put out there is deregulation uh I'm in the health and Biotech Industry I invest a lot of
• 82:30 - 83:00 Biotech companies I've started a number of Biotech companies and it has been just destroyed by regulation the you know the fda's thesis is we're not happy to you not happy right doing anything new in novel is effectively illegal or super hard because you're penalized for something you approve that kills one person and you not penalized for something you don't approve improve approve that is killing hundreds of people in that disease category so let's
• 83:00 - 83:30 talk about RFK and deregulation um who wants to go first I respect Bobby full disclosure like you he helped me on the Bitcoin book um um I've helped Bobby politically and again we can talk about the vaccine situation with Bobby some of the things he's saying make sense perhaps people in the medical community would challenge some of the things saying so I'm going to lead that to the medical community I speak as a dad I
• 83:30 - 84:00 believe everything that you just said and I've experienced it Peter if I go to Greece and I eat food I lose weight if I go to Italy and I eat food or drink coffee I lose weight if I eat food here the same food I gain weight because there's so many preservatives and so much nonsensical stuff and the stuff okay and we did something to the country was well I want to be Secretary of the Constitution citizens united has corrupted the country because if I'm big
• 84:00 - 84:30 food or big Pharma let me light up everybody in the Congress and then let me tell everybody in the Congress that I need to put fertilizer and additives and preservatives in the food so I can cheapen up the manufacturing of the food yes cheapen up the price to your point but it stays on the shelf for 15 years and it makes everybody fat now you know cuz you're a scientist and a doctor if we went back to our obesity levels in 1991 we'd save two want talk about $2
• 84:30 - 85:00 trillion we would save $2 trillion in health care expenses if we just went back to the portion sizes and we just cleaned up the food so by the way I think that is the biggest savings we can have is in our health care costs right right but of course so so so Bobby talking about this and if Bobby can implement this I want a bronze statue to Bobby in front of the FDA okay and Bobby Bobby whatever you think of Bobby
• 85:00 - 85:30 Bobby's been on this for three decades fellas okay I think he's amazing and he's right about this so so you tell me I want Bobby to get that job I know there's some establishing people that don't want him to get that job but if bobb's in that job but you know what I told you about the grind in Washington right they'll find something on them they're going to grind that guy you know we need 20 people going into that department with Bobby that think like Bobby do you understand what I'm saying
• 85:30 - 86:00 because do unfortunately because I have a 11-day PhD in Washington scumbaggery okay 11 got honorary doctorate and what I'm telling you is that he can't do it alone he needs a legion of bobbi's to help him yeah um so I agree with everything you said I think citizens united has been a real nightmare for the country terrible I think need a constitutional amendment to reform that yeah that's a that's a huge problem and the problem I think we
• 86:00 - 86:30 have is that it doesn't matter with zobby Kennedy or somebody else yes he's got an unbelievable track record of environmental fighting corporate interests Etc and God help us we need 10x more of that but how much can he do to undo the regulatory capture in both healthc care and in food and that we need that and it may need happen a level above and the best thing we could do is just educate the popul that this is really what you're doing today is really bad and let the Market Drive changes so so you and I agree what I would say to
• 86:30 - 87:00 Bobby you got to go District to District there's 435 of them and you got to do podcast local radio and you got to do local media and you got to get to Peter and saleem's family in every district and say please call your Congressman please call your congresswoman yeah knock off the relationship with big food Michelle Obama and by the way if Bobby is listening please come on moonshots I would love to have because what you're
• 87:00 - 87:30 planning to do is an incredible moonshot no he's the man I I and I totally respect him but I'm just saying to you Michelle Obama tried this in ' 09 and in 2010 They Crucified her they started calling her Michael Obama they put all kinds of conspiracy theories out on the internet that was big food and big sugar that went after Michelle Obama there's a great documentary about this a couple years ago I send you the link but they crucified her and he wanted to win
• 87:30 - 88:00 reelection so they backed off the food safety standards in the country but that's why she had a garden in the white house she was growing her own stuff to feed her children we shouldn't be doing that in this country it's too rich and too successful of a country just use the European Playbook on this stuff let's talk about deregulation a little bit because you know right now if I want a to stem cells and various regenerative medicine treatments I'm flying down to Costa Rica or Mexico or other parts
• 88:00 - 88:30 outside the United States to get access to that which I think is kind of insane now does there more research needed sure but at the end of the day uh we have enough data to say there's a reasonable level of safety and if I'm an intelligent adult I should have the ability to access these regenerative medican medical uh treatments instead of having to leave the the country um I also saw as we all have the biotech stocks just going down to Whirlpool down
• 88:30 - 89:00 the drain over the last few years with short sellers so I'm hoping and believing that we're going to see uh deregulation really uh ignite uh a new health uh dividend uh for biotech how do you feel about that Anthony yeah listen I mean a couple couple things I would say to you that again once again big fora because big farmers putting pressure on the FDA MDMA which Bobby is a proponent of and
• 89:00 - 89:30 and and I believe Peter you've helped my son with his MDMA projects yes I think MDMA is yeah for people don't know MDMA is a psychoactive drug it's been uh used over and over again with people who have uh severe trauma uh to overcome that trauma uh to do it in a beautiful and graceful way so um anyway please go back to what you were saying no I'm just I'm just saying that hello FDA how are you yeah
• 89:30 - 90:00 this is fizer do you guys want a job here at fiser in two years oh yes we do okay stop MDMA hello this is fizer we don't own everything related to stem cells yet and so we don't want those approved in the United States you got to go to Costa Rica or Panama okay no problem and so oh uh semi glutide which you know is a peptide okay there always been available once they licensed it and once they made it a drug let's use it but these other
• 90:00 - 90:30 peptides like the 157 peptide or others sorry can't use it because it's too Universal so this is where bobb's going with all this and so yeah I think it's unfair and I think it's wrong and I think it's hurting the country and we weren't like that Peter yeah you know when Jonas s came up with the vaccine op sourced it they didn't make any money off it he we weren't like that okay and
• 90:30 - 91:00 we have to go back to that sort of standard in the country and so that's why you know look look whatever you think of Donald Trump Bobby Kennedy is not going to be the Secretary of Health and Human Services without Donald Trump so I spent a few moments [ __ ] on him and some of his rhetoric but as a disruptor I give him credit in that area I want to be fair and objective I I want Bobby to succeed and if Bobby's proven wrong about a vaccine or or this that or
• 91:00 - 91:30 the other thing or mol whatever he's talking about okay let's prove that R let's get the data together the data yeah 100% I I do agree one of the policies that Trump put forward and whether it was him or his advisor is that you can't regulate an industry and then jump into that industry after you retire I mean that is absolutely um it's it's a ridiculous uh farce yeah I think this goes straight back to the previous conversation on how do you get
• 91:30 - 92:00 big corporate interests out of the Regulatory and it's a systemic issue uh hopefully if there's somebody that could do it it would be Bobby Kennedy um because he's got a track record of that hopefully he has enough of a stick to be able to do it effectively so you know listen we have uh overstate our welcome here Anthony on your schedule uh but and we haven't covered AI I'm thrilled to talk to both of you I I want to have you back here on on WTF just happened in uh in Tech on on our moonshots podcast
• 92:00 - 92:30 because I love your New York attitude it's like you know and your hair is just amazing tell me when man you know Peter you know I appreciate you too brother I appreciate you too and uh your your son AJ is doing amazing right Peter got to have balls you got to you got to call it you got to call it as you see it yeah when you see my son the next time say AJ when you were walking on the beach at age 8 what did your dad say
• 92:30 - 93:00 about your Footprints I will ask you you want to hear what I said well sure what do you say yeah okay see he's afraid he's afraid of me to tell you on the podcast so you ask him you ask him all right I I will ask him wait I want to know when he shuts the recording off I'll tell you right you know uh there is so much that's happened in this last month in Ai and humanoid Rob Robotics and space um it's pretty extraordinary I think people need to realize we live during the most
• 93:00 - 93:30 extraordinary time ever in human history you know our ancestors would view us as Gods uh and I hope that what we're going to see over the next four years is the Roaring 20s that we're going to see the amount of capital flowing in the amount of ease that entrepreneurs have to reinvent you know Ai and robot and humanid Robotics can truly bring about an age of abundance and as the Secretary of abundance I'm going to be pushing that as hard as I can um selem remind me
• 93:30 - 94:00 what your what your cabinet post is here again again uh I forgotten now in the in the richness of this conversation but it would be in the Constitutional Amendment oh you you were on Doge you you were G to jump into into Doge yeah you said Doge you said Doge before but yeah but did but after hearing the the difficulties you have to lift up to the higher level to fix it and then can come back down again that's the truth and there's two things we need number one we need a constitutional
• 94:00 - 94:30 amendment to fix citizens united we've created a separate but equal democracy Money Matters more than it should in the society Trump will say no I spent less than her and I beat her it's not that it's in the Congress since January 2010 that decision was rendered the Congress is all about corporate welfare and the Congress is all about doing what big business wants it to do very very bad for our society got to get back to the people Second Amendment second big
• 94:30 - 95:00 amendment that we need so that would be the 28th and the 29th amendment is to end Jerry mandering has to be ended sorry you got to get these congressional districts to look like the geometric shapes that we could recognize from ninth grade geometry not the jigsaw puzzle nonsense that we have now and guess what would happen you would liquidate the extremist and you would liquidate long tenured uh servants because you know hey man you got to get in the middle these are marketing competitions guys I love
• 95:00 - 95:30 the term limits idea for congress how about getting rid of uh the Electoral College and just going to a straight Democratic vote of 330 million Americans will that ever happen I don't I don't want that you don't why not I don't want that no no because remember what the system is it's a republic and so the system is designed have representation but to prevent mob rule okay you have to have things in
• 95:30 - 96:00 place to protect minority voters I'm not talking about black or brown people I'm talking about the election was won 41 to you know 51 to 49 you got to protect the 49 and the founders understood that the Electoral College does that masterfully now people are upset with it because the last couple elections the Electoral College was diverging from the popular vote but that that works if you don't do
• 96:00 - 96:30 that these candidates will sit in the coastal cities and they'll go for the popular vote and the middle of this country will be ignored by those candidates and I'm telling you guys you don't want that we've already got enough strain in the country trust the 3 to 250 year mechanism of the Electoral College it maybe hasn't worked perfectly in the last 20 years but trust it over the next 50 but Anthony we're we're the candidates right now are focusing on
• 96:30 - 97:00 five states or Pennsylvania I mean how how real is that I disagree Donald Trump went to California Donald Trump did three rallies in New York state Donald Trump did a rally in New Jersey okay Donald Trump was trying to win the popular vote as well as the Electoral College vote Yes that that was a playbook for 8 12 16 and perhaps 20 that wasn't the 24
• 97:00 - 97:30 Playbook and and by the way pay attention you may dislike Trump or like Trump he's a formidable political beast and he was playing to win the popular vote he went to states that he couldn't win to improve his margins in those States and to help the representatives that were running down ballot from him yeah I like I say about Elon I would never bet against Elon ever right what he did with xai going from Raising $6
• 97:30 - 98:00 billion on day one to building out his Colossus cluster in 122 days and blowing away the competition and out doubling it again in size and I think the same thing for Trump you're not going to bet against him he's talented but you gota you gota you got to check his rhetoric my friend I'm just telling you as a citizen that loves the country and I certainly love the promise of Elon Musk and I I hope Elon Musk lives to be 150 and I hope he's worth1 trillion because
• 98:00 - 98:30 he's adding economic value and economic rent to the society but you got to check people that speak cruelty to other people can't can't do it sorry understood and I'll speak out against it for the rest of my life because I am from a family of immigrants they told my grandmother to go back to the country she came from okay and you can't have the presid talking like that sorry without somebody calling him out on it and saying hey [ __ ] cut it out it
• 98:30 - 99:00 doesn't help the disc respect is important uh across across the board especially from our leaders all right um respectful dialogue selem you're going to say something uh if we're talking about amendments and constitutional stuff uh I would go after the Second Amendment as well just to tweak it a bit but that we we don't have to touch on that that that need a general rewrite on the are co- secretaries of the Constitution okay we're going to tweak it up we're going to get it refreshed for the Next Great American Century
• 99:00 - 99:30 which makes the system Fair more plural uh and protects people from tyranny that's exactly what our Founders wanted to do that's the reason why we're so prosperous let's tweak it up again and to prevent an oligarchy we don't want an oligarch I want R to be worth three four trillion dollar but I want there to be a very deep very broad middle and and positive growing aspirational middle
• 99:30 - 100:00 class roaring that I'm incredibly encouraged by just in the world Amen is that if you went back a couple hundred years ago the richest people in the world exclusively inherited their wealth and today the richest people in the world have actually created their wealth and I think that's incredible for I mean a lot of that has to do with the American model it's been exported to India and the UK and Europe but the American came up with that right Andrew cornegy came here Penning lless yeah my my Venture it's it's amazing uh one of my Venture funds exponential Ventures
• 100:00 - 100:30 that's in AI uh fund investing in MIT and Harvard teams we have two companies founded by effectively 21 year olds that have gone from Zer to2 billion valuations in under two years the ability to create wealth today is insane and I think it's just beginning now the good news is when that wealth is created um you know Facebook and and uh and
• 100:30 - 101:00 Google and open AI have created not just a couple of billionaires at the top but hundreds and thousands of ctim millionaires below them that then go and invest in the Next Generation and there's this engine right I just got back from India I was in India uh for cities over the course of two months and the problem is that that doesn't occur there yet if you've got a great idea you leave the country you go and build the United States and the wealth is not being created that is Flowing to a large
• 101:00 - 101:30 percentage of the entrepreneurs who then reinvest and so we need to preserve this what this special sauce that we have here um and I think that spread it as you can spread some of these ideas to places like India it'll completely change the game there yeah I love it I love it remember remember something your freedom of press the First Amendment secretary the Constitution drives the economic Innovation do never forget that because we teach our second graders to
• 101:30 - 102:00 speak and think freely they create the X prise they create Singularity University Google Facebook they develop Bitcoin here in the United States and remember that okay if you teach your second graders they can't talk about dear leader uh and they got to go into a re-education camp if they do they don't innovate they they have to steal our intellectual property okay so these sacred ideas that have been in these texts for hundreds of years are there
• 102:00 - 102:30 for a reason okay that is one of The Fountains of our Innovation and our creativity is the Free Press ien don't go after the Free Press okay amen but you know the last thing I'll say is media in the United States is changing dramatically all right the old news networks are vaporizing and slowly dematerializing on their own I mean this was a podcast election I would say if for the first time ever yeah yeah totally they lost the plot the meting
• 102:30 - 103:00 look by the way by the way I don't agree with what the media is doing the hard right or the hard left or the nonsense okay and so what happened great Innovation happened Joe Rogan comes on I don't know hundreds of millions of downloads and people think a Joe is a fair Arbiter of trying to get to the truth Bobby Kennedy has a podcast talking about you uberman has a podcast you two guys have a podcast okay you know I'm inspired by your podcast when I listen to your podcast I'm like all
• 103:00 - 103:30 things are going to be okay and I and I will confess to both of you that I have stolen and by the way I don't give either of you two credit for anything I steal the entire thing full plagiarizing okay elements of what you guys talk about in terms of exponential abundance and to get people off of thinking linearly while the world is happening around the exponentially I listen to you guys and I import and incorporate what you guys are saying and that's not that's that's not Legacy
• 103:30 - 104:00 Media that's a new media I think this is a perfect and so so so so so the the media blows so now we've got people like you coming in to innovate and they're going to be forced to change yeah if they still exist uh so yeah but let's have the Free Press though they want to act like [ __ ] on the left or [ __ ] on the right who cares New Media will come in and knock those guys out yeah I mean what I love about X I still I still call it Twitter but what
• 104:00 - 104:30 I love about X is the fact that anyone can post and that in I'm not beholden to some editor who's telling me what they think should be posted I can see it all I can follow skyui here I can follow selem um listen this has been a fun conversation we still have a lot more to talk talk about so let's let's do this uh let's do this Trio again first of all I'm grateful for all the time thank you bu thank you I'm huge fans of you guys
• 104:30 - 105:00 and U uh and by the way uh thank you for introducing me to Hal finny because it's part of my lessons and stupidity that I didn't have the Insight the Judgment or the understanding of what he was saying and God bless him for coming up with it and saying it and helping it along so mooch where can people find you I just want to remind you the little book of Bitcoin is coming out December 4th uh we'll put the pre-order link down below or just Google it do you have a website
• 105:00 - 105:30 up for that already uh I do well everything's on scaramucci domnet so www scaramucci dnet really there are there is a website too for little book of hedge funds little book of Bitcoin um but scaramucci Donnet I'm scaramucci onx scaramucci on Instagram I'm @ scaramucci on blue sky I'm @ scar my sons are pissed at me I took all the at scaramucci on LinkedIn and and what can I tell you okay I got there first I'm older than
• 105:30 - 106:00 you bastards and uh and listen I have a podcast on politics I do it with a woman named caty K uh she's a British journalist it's called the rest is politics us and uh it's a fun podcast because because you're involved it's long form and I'm I'm unfiltered you know what I'm saying love it I can't wait to go listen to it and super appreciate the book recommendations if you listen to it last week's podcast starts with caddy K in
• 106:00 - 106:30 her British accent reading the last Trump tweet about me calling me a major loser a major loser of course I know that's a love message from him because I know exactly how he thinks you know you know Vance called him Hitler Bobby Kennedy had bad things to say but everyone gets everyone goes in and out of Trump World you know he changes his mind sometimes and I can imagine the phone call hey mooch come back I need you he's not going to do that trust me I guarantee that he won't do that I'm
• 106:30 - 107:00 going start I'm going to start bet pool I'm going to start a betting pool but I guarantee there'll be I guarantee there'll be peace in the Kingdom because you know and he Lo he loves Moxy and he loves balls I'm not going to let him go after my wife without taking them on a little come on man come on guys come on Peter you grew up out here what do you want me to do you want me to go to these Italian restaurants out here uh with people thinking that Trump could walk on my wife without any retaliation I mean come on that's ridiculous God forbid right all right I love you buddy youing this [ __ ] though right this is some real this is some real Italian [ __ ] right you
• 107:00 - 107:30 love realship all right all right God bless you guys God bless take care sale take care much [Music]