Trump assassination attempt, Secret Service failure, Inside the RNC, VC liquidity problem

all right trath apparently the Rainman David Sachs is now the architect I think he's been working behind the scenes according to a bunch of the news stories I like Puppet Master the Puppet Master okay well we should call Sak chetto let's cut we're going live now to the RNC in Milwaukee and live coverage uh Sith Lord David sxs are you there oh he is it's Palatine tell us about your new Empire cator Palatine everything has preceded as I have foreseen let your winners ride rman David and instead we open source it to the fans and they've just gone crazy with [Music] it obviously sacks Trump makes his own decisions you're getting a little bit too much credit uh I think yeah absolutely no I mean I'm I'm mocking I'm sterzing the times and Business Insider and all these Publications are giving me all this credit listen the president obviously makes the decision he solicits feedback from lots of people I was probably one of a thousand people or at least hundreds of people who offer my opinion obviously I'm a big fan of JD Vance but I think uh it's just giving me way too much credit in all seriousness uh Sachs you're there and obviously you know president Trump how is he doing how's he feeling in the wake of this absolute tragedy I think he's doing well he was in great Spirits I think but let's maybe we just should get into the assassination attempt that's really the thing to talk about here all right everybody welcome back to episode 188 of the Allin podcast we have a full docket to get through today we are here on July 18th on the taping of this and it is five days after an assassination attempt on the former president of the United States and the likely 47th president of United States obviously president Trump we're going to start with what we know it's 5 days later we're a bit in the fog of War as it is and there are uh all the breaking news caveats that you can put on this but I want to recap what we know now about this assassination attempt and get everybody's feedback on it last Saturday at a uh rally in Pennsylvania 20-year-old named Thomas Matthew Crooks fired eight rounds with an AR-15 at the former president one bullet nicked Trump's right ear this was confirmed by the president on Truth social and uh a trump supporter tragically in the crowd Corey comparator was killed while protecting his family from gunfire two others were critically injured krooks was killed by the secret Services counter sniper team 26 seconds after he fired the first shot he didn't have a criminal record he was not known to the FBI or Secret Service he uh was a registered Republican but also donated $15 to a progressive pack and the motive is not known so we'll just wait for that there were some uh leaks from a Senate briefing I don't know if you gentlemen have heard those that just came out and it was reported that Crooks wrote on July 13th on Steam that's a gaming platform July 13th will be my Premiere watch as it unfolds he had a second phone he had a uh detonation device in his pocket there were a bomb or some sort of explosive device in his car we'll get details with that I'm sure and now we are in the phase of how the hell did this happen here's a picture of the rooftop the closest rooftop was not secured and it was a 130 yard away the head of the Secret Service said they didn't put anybody on the rooftop because of its sloped surface obviously this is being mocked on social media and questioned by journalists and anybody with any IQ points the most disturbing part of all of this aside from somebody wanting to murder the president is the timeline so ABC News is reporting the following timeline gentlemen 5:10 p.m. Crooks was first identified as a POI Person of Interest 530 he's spotted with a rangefinder 552 he's spotted on a roof by the Secret Service 602 Trump takes the stage 6:12 p.m. he fires his first shot we'll get into some clips and everything but let me just stop here and get everybody's reaction to this tragedy jamat you're that's it's absolute Insanity I actually just I had just woken up because I was flying back to the United States for a board meeting and so as I was boarding and on the way I was just on my way to the airport reading it mostly from our group chat and I was I couldn't I couldn't believe it to be totally honest with you I thought this made I thought this was this is not possible in this day and age and part of why thought it was not possible was because I had elevated in my mind who the Secret Service were and that the job they did or that they're supposed to be doing is just so sacran to the well functioning of America that you only have the absolute best people doing that job and that job is to protect these handful of individuals in America most importantly being the United the the president of the United States who are just critical to the functioning of the most important country in the world and when you see the level of negligence and incompetence you know my mind started racing how is it even possible and I guess the the the only thing that I can come up with is that we need to figure out where incompetence ended and negligence began in all of this because I think that's what's going to be the most critical and we need to figure out the totality of what happened and you know if there were other people that supported this guy trying to do this and then the second I'll just say is Trump is an absolute Legend what a boss okay freeberg where were you when the news broke and what are your general thoughts here five days after this occurred we'll get into Political ramifications and everything else but just on the event that occurred and your takeaways from it I was with a grou of people drinking beer outside we were on our fourth beer and we I thought it was a joke I think the first thing I thought after I saw the video and saw that he was okay and that his ear was bleeding was that's it it's over trumps W it was probably one of the most iconic patriotic visuals I think any of us have seen um and here's the image Nick's pulling up what a photo this is the AP photographer and I think it's really um it was so striking you see this photo which um which didn't come out right away but some of the imagery that came out right away with him pumping his fist was like okay that's it Trump's won it's over second thing I thought was this could trigger a lot of violent counter reactions um if it if Trump doesn't lead well here and I think he prevented that in his statements and from the other side third thing I thought is it doesn't matter if Biden drops out now because it's over Biden could stay in he could leave um this just feels like a lot of momentum and then the fourth thing I thought was this to chim's point I think we've all been around Secret Service people in our lives and in our careers and in meetings and interactions we've had it really was amazing that the Secret Service let this happen and if you see you know all the data and the stuff that's coming out now about how the Secret Service managed this it seems pretty scary that this was so botched certainly now the dust is settled 5 days later and it seems like they're back into the conversation about let's remove Biden and figure out who can run against Trump although there is conflicting polling data which I know we're going to get to let's get sex's reaction sex where were you and this occurred and your thoughts on um you know the event itself and obviously there's tons of conspiracy theories going around right now obviously there is some uh negligence that occurred here I don't think there's any doubt about that uh there's a Dei angle there's a ton of angles here but where were you when you saw this happen and what was your immediate thought yeah well let me your first question first I think this was one of those events where you'll always remember where you were and I was just working in my office in Los Angeles I was going to fly to the Republican convention in Milwaukee a few hours later and so someone texted me the president's been shot Trump had been shot and my heart sank I immedately went online to see the video and I think I saw in almost real time him go down and then when he stood back up and faced the crowd and told the Secret Service wait wait he didn't wanted to let them kind of drag him away he turned to face the crowd and exposed his face who knows if there had been another shooter who knows if that Sho was really down but in that moment he wanted to let the crowd know that he was fine we were one inch away from the president of the United States having his head shot you know he's got grandkids he's got a wife he's got kids uh he's got friends how do you feel about the individual his head was almost shot on television in front of thousand hundreds maybe thousands of people on live and the gravity of this I think is very significant and I think we've in this media saturated environment we've processed it too Qui which is why on the docket I wanted to slow down here and just take in what happened you know one other uh very important detail for for me is that you know my father-in-law was actually at that rally in in Butler at Butler Farm really yeah he was there and he saw everything that happened and when we saw there was a shooting there we were trying to get a hold of him and the cell reception had been shut down and we couldn't get a hold of him for a couple hours and obviously we we found out later that he was fine but what he described is that when the shots rang out the president went down there was really a feeling of of bedum and pandemonium in the crowd the crowd was afraid that the president been shot and so when he stood back up and faced the crowd and then you know said fight fight fight it created this huge sense of relief it was like palpable that he was that he was fine and then the part that I don't think's been well reported is that the crowd started chanting USA USA USA yeah so they responded with this Unity it's been well reported that you know that Trump was said fight fight fight but I don't think it's been well reported that the crowd started cheering USA USA USA so I think that the crowd turned from Fear to Unity and strength and patriotism reflecting what they saw from the president yeah it's well said yeah this is one of these things that's unbelievable and the whole world I think has just seen how iconic it is I saw there's a video online even in I think kids in Uganda were actually reenacting the assassination attempt yeah that's how iconic it was Trump's like a global legend for that and again there's just no way to fake what he did in that moment right where again he I mean the the bullet missing him was either luck or you know hand of God or destiny whatever you want to call it but him telling the Secret Service to stop to face the crowd to basically show that he was unharmed and that he was determined and was defiant in the face of an Assassin's bullet that's courage that nobody can fake and I've seen people online talk about how um soldiers Under Fire they've described how when they've been under Fire obviously they hit the deck they don't stand back up you know even soldiers don't don't do that his composure is incredible yeah he just Rose to the occasion in just such an incredible way that I think it's inspired the whole country and the whole world there's just no way again to fake something like that even though some people like read Hoffman's political hack was actually claiming that it was all staged which is just unbelievably ridiculous but yeah so but I think the rest of the rest of the world knows that he just showed unbelievable courage in that moment and Rose to the occasion and I think made the entire country proud it certainly was an amount of bravery and a and a bold response I do think this the next phase of this is sort of figuring out what happened with the Secret Service as Brave as it was for him to stand up that was a crazy thing to do can't believe the Secret Service allowed him to get back up because there could have been a second shooter and although we heard radio chatter that the shooter was down I mean how do you know in a situation like this what's actually happening they could have got a second shot off on the president maybe they they they don't miss by an inch that time and then they hit it so we got a lot of questions that need to be answered here thank God he's okay and I think I guess now it's time to talk about rhetoric and I think that's actually from my perspective you know the next thing that has to happen here in terms of leadership when something this tragic happens you know everybody's looking at the other side's retoric here whether it's putting Trump on a magazine cover as Hitler or they're saying you got to fight like hell or the oathkeepers and all this January 6 nonsense and beating up cops I think we have to put both of these things aside and the the leadership Trump and Biden should be saying right now that and Leadership does start at the top this rhetoric is not to be done anymore people have to tone things down you could be passionate about politics but using violent language there are sick people in the world and this kid I think it will ultimately turn out like all the other assassins we've seen or or these celebrity killings that occur John lenon Etc it's usually a mentally ill person likely what happened to here we don't know yet you know they interpret violent language differently than a normal person so we could say fight like hell or Target or you know you got Fight for Your Country whatever it is and we would take it a certain way sick people take it a different way and they need to put out a joint statement and just say anybody on our teams who use violence who uses violent rhetoric is no longer on our teams and they haven't done that so I think there's like more work to be done here in terms of leadership I think it's more precise than that I think it's way more precise than this I don't think that this is like years of Donald Trump using violent rhetoric I think this is years of Mis no I don't you cannot both sides this I think this is years of course give you examples of it I think what it is is we have gone through years and years of literally the words that the former president has said being perverted and misconstrued and chopped up into sound bites that Advance a mainstream media's agenda to try to vilify a person and I think that that's an important thing to take a step back I think we have to understand that the mainstream media has really gone out of their way to amplify violent rhetoric and to actually associate violent rhetoric with as a tolerable reaction and I think that that is the thing that we need to now completely get rid of in our society I saw so many reactions to the former and probably future president of the United States getting shot which was along the lines of basically hoping that that person hadn't missed and or justifying that violence on Donald Trump was somehow Justified that's insane now that person could only have gotten that idea because the media fed them that language and that idea and I think that that's extremely scary because I don't think you actually see Republicans necessarily saying that about Joe Biden they may think that Joe Biden is feeble and mentally incompetent but nobody's calling for the death of Jo bid so I think that that's a very scary place where you have one group of people who are being fed this extremely toxic narrative and I think that that part of what you're saying Jason I agree with but I really disagree with the other part which is and this is someone again as as someone who was a former Democrat I can observe this and be relatively rational here I don't see that from the other side okay well you know the media is reflecting what is said by both candidates and both sides and they both use very targeted language I'll put a couple of links in the show notes of both sides doing this and you can make your own decision as the audience but I do think leadership would be both of them saying stop this violent language and both sides do it like to address that too yeah sure go ahead just days before the shooting Peter te and Reed Hoffman had an exchange at Allen and company that was publicly reported in which Peter said that Reed had turned Trump into a martyr by funding lawfare and Reed responded I wish I had turned him into an actual martyr okay that's wishing for someone's death when the news of the assassination attempt came online I don't think it was Jack Black himself but a member of his band said that is too bad the shot missed there are other people on the Democrat side who Express similar sentiments they were disappointed that the assassination attempt had failed now I don't think those people are are mainstream political leaders so yeah that's that's that's just the distinction I wanted to make here like there's yeah no political leader who said that I'm not going to try and hang that around Joe Biden however Biden himself days before the shooting said that it was time to put Trump in the bullseye that's what he said and his defense for that rhetoric was why didn't say crosshairs well I think Bullseye means the same thing now even that I I'm willing to basically forgive because I don't think Biden meant it in a literal sense I think he was speaking rically about say campaign ads things like that I wouldn't necessarily say that was violent rhetoric okay I'm not going to try and pin that on President Biden but but the thing I do think was unacceptable by President Biden and the Democrats is a level of demonization and the level of vitriol that they have pursued against President Trump not as a one-off statement but as a campaign strategy again they have said over and over again this man is Hitler this man is a fascist this man is a threat to democracy if he wins it is the end of democracy they have repeatedly gone there and repeatedly used they tried to Hitler him now if you're saying that this man is Hitler where else is there to go rhetorically that's the worst thing you could ever say about somebody and quite frankly if he is Hitler why would you be offering him thoughts and prayers after he gets shot I mean wouldn't it be a good thing to shoot Hitler and so I do think that you know if we think about the contribution of political rhetoric to what could have happened here I'm not going to try and blame anybody for these one-off poor choices of language that could be interpreted as violent what I will blame them for is taking the demonization up to 11 taking the vitri all up to 11 because that could poison the mind of someone who's already mentally Disturbed and say okay well wait a second if he is Hitler why wouldn't I be Colonel van Stenberg for assassinating him wouldn't I be a hero for trying to eliminate this man and that's the thing that I think is really unacceptable and I do think the Democrats should be blamed for that because again they made it a campaign strategy their entire argument against Donald Trump is not about issues it's about this man being Hitler and I think it's ridiculous it's inflated it's h hyperbole to be sure and I think that we don't know yet about the mind of this shooter this Crooks but if anything contributed to the shooting it was that JD Vance referred to him as Hitler as well other people inside the Republican Party have referred to him as Hitler and a threat to democracy so there's plenty of blame to go around to correct sex that happened over eight years ago as like part of a text message exchange it wasn't public rhetoric as a campaign strategy I'm talking about a systematic strategy that gets Amplified look at the cover of the new Republic they literally turned Donald Trump's face into the face of mashup of him and Adolf Hitler and it's been Amplified and repeated over and over and over again on MSNBC on CNN on all these liberal channels okay this is coordinated political rhetoric as a campaign strategy it's not a one-off I'm not going to blame anybody for a one-off that could be misinterpreted but when you do this as a systematic campaign strategy and in fact you base your entire campaign around the idea this man is a threat to democracy and a fascist this is the language they used like I said there's nowhere else to go after that where else do you go threat threat democracy I think is a valid criticism of trump calling him Hitler yeah probably insightful so yeah I think reasonable people can parse this and it is something that has occurred on both sides it's well documented and both parties can do better I think like one thing that when the investigation happens into what happened here and we really figure out what happened in the Secret Service how many examples do we need of institutions where we put in our trust just like letting us down and they just seem to be piling up and it's independent of administration and at some point I think we have to like really check ourselves and say what has happened here like how do we objectively measure the quality of the people that are supposed to be working in these organizations and and how do we make sure that they are actually confident doing their job ke this is the key point trth is uh the outcome you know how do we judge people outcomes and if you look at the outcome how the secrets service director hasn't resigned now I mean I I know she's had a storied career and and she's probably a good person who's done plenty of great things in her career I don't know the details of it but if the outcome of what you've done results in something this tragic and that could have been avoided the proper thing is ownership and resignation and or the people who run this organization or they answer to being fired and so this absolute acceptance of mediocrity is something that has to change is it an acceptance of mediocrity or is it that they just got completely distracted on things that are not gerain to doing your job so you know if if it was we need a diverse Secret Service or we need to have inclusion all of those things have nothing to do in my mind about protecting somebody there are characteristics and I suspect that there are women that embody these characteristics as much as men that embody these characteristics but why isn't there a psychographic way of determining who the best people are that have the protective instinct to protect the most important people that run our country there's a very simple test here the job of the Secret Service is to jump in front of a bullet as we witnessed in order to jump in front of a bullet you have to be bigger than the Target right you have to be so a 6 foot2 woman who's four feet wide just as qualified as a man who 6'2 four feet wide for that job description you have to be brave enough to jump in front of a bullet I don't know if you guys saw but there was like a thing where and and I feel bad for this woman who's being derided as being totally incompetent the one in the field but was a David Attenborough voice over of her trying to put her gun back in the holster yeah I mean apparently I think Eric Trump said she's incred the the Dei Another Day memes yeah this is just I mean it's a very unfortunate say that she's like the best person ever I think he was trying to support her at she may have just had a bad moment who knows I mean I it did look pretty bad that she was having trouble holstering her weapon I mean you know not that I'm a gun adrenaline running at that moment in time but I mean look it's what's known as an outside the waistband holster which is the easiest type of holster to use cuz it's you don't have to tuck it into your pants or anything like that and I yeah I got to say it it does look pretty bad that she was having so much trouble just trying to holster her weapon but look I think this is only one of a number of questions that I think have been legitimately raised about the Secret Service performance and we need a full investigation to figure out what happened and let me just you know let me just run off a list of questions that I would like to see answered so number one is how do they fail to cover that roof it was the most obvious shooting spot in that entire Butler Farm area and it was not properly covered and then the Secret Service releases this statement that they didn't cover it because it was a slope roof which is the most ridiculous cover story ever because they did have snipers on another roof that was more sloped and five times more slop that sounds like a lie right so once you put out that that cover story which is basically a lie you only make the situation worse and it only makes the question even more poignant of how do you fail to cover that roof okay did you see the picture of Secret Service on top of the White House roof which is extremely sloped even more sloped than the I mean it's just ridiculous and the Secret Service director cheel said that on ABC okay so right there she should be fired because she's lying to us at a moment where she should be cooperating and doing a full investigation okay so and isn't it true that they were inside the the the the structure wased inside the building and outside it was proba okay but that's just question number one okay question number two is like you said he was a person of interest an hour before the shooting and no one went to go resolve that situation moreover they see him with a range finder okay what the hell do you use a rangefinder for I mean he's scoping out the target with a rangefinder and they they let the president go out there okay while they still have a person of interest out there this guy has a rangefinder he has a ladder has a backpack and he was never intercepted he was never stopped even though they had identified him and they let the president go out there so clearly there was a huge failure of communication between the Secret Service and the Trump campaign how did that happen how was there no agent stationed at the fence such that they had to Ram it with a SUV for the Secret Service to get through I don't know if you guys knew about that part of it okay no no say that say that say that again there was no agents stationed at the fence okay so in order to get there they rammed the fence with an SUV so the Secret Service quick get through oh my gosh okay that's insane and what harm would have come from just taking a half hour and have Trump have a cup of coffee and then go make sure that this person is not danger like exactly I'm just thinking judgment wise listen I understand they're in the field I understand they have I understand if like they were concerned maybe that's one of our snipers on the roof like maybe there was a moment like a 30 second moment like I'm trying to give them the benefit of Doubt here but it's hard to the secrets are a sniper who did an incredible job taking out the the shooter in one shot okay he had that person lined up so again you know why haven't they released that the um the audio there must be an audio recording of all the chatter on their earpieces their communication 100% that sniper must have identified you know Crooks as a potential Target and had him lined up which is how he was able to take him out very quickly but what was the chain of command there in terms of him seeking authorization hey who is this person why wasn't everything stopped while they go to figure out what this person is doing on the roof there okay and then once once the the shots rang out and and Trump gets shot why did it take him so long to get him in the car to get the Convoy off to a hospital there was a long delay in terms of just getting him out of there so they clearly weren't prepared for that the whole thing it just you know reeks of of incompetence yeah and they don't have a great track record of being honest about what's going on they you remember not to bring up January 6 again but they deleted all their Texs from January 6 like they do not they circle the wagons they do not want people criticizing I I doubt we're even going to get that audio I wonder if that audio is going to come out but they they don't have the right in a democracy to basically investigate themselves and say oh we're good no that's not how it works the the people of this country need accountability I mean the the once and likely future president came within millimeters centimeters of being assassinated and this whole country could have been plunged into a whole different type of situation we need answers to these questions and this director cheel is obviously in the way and putting out nonsense putting out spin at a time we need a proper investigation that needs to happen immediately cheel should resign we need to have agents okay Secret Service agents need to be offered up to testify on Capitol Hill with no fear of reprisal from the binden administration okay snip be sniper the first person that needs the first person that needs to that needs to speak in a congressional hearing is the sniper himself did you guys see there was coverage yesterday that showed there's actually two snipers and the current the Cent well no sorry there's two sets of snipers there's four snipers the one set of snipers that you see the video of where he does that there's a tree blocking their ability to see Crooks the other set of snipers are the ones that apparently took the Fatal shot and they had a line of sight but they're not on camera so you don't actually see what's going on with them that's the current rep I've seen on it so I don't want to like J to conclusions given that there's now seeming there's no excuse here because let me just say if they saw the guy on the roof and they let the president on the stage someone effed up that doesn't seem why not have a delay like not the end of the world if we can put that um that bird's eye view of Butler Farm on the screen I don't know Nick if you have that Nick pull it up where it shows the line of sight with the tree as well so you can see it all yeah there is but look at the shooter's position and look at at Trump's position okay and and I've seen broader Birds Eye views of of Butler Farm without knowing anything about Marksmanship it's just obvious that that roof is the most if you could set yourself up anywhere as a sniper assassinate the president it's number one most obvious location furthermore let me just say that when schoth and I hosted that um dinner for president Trump we worked with the Secret Service you know Advance team and they were excellent they were really great and I saw just a little bit of their process and they went through the house they mapped out the entire house the entire property then they asked well where's the president going to be sitting at dinner they wanted to know who's to his right who's to his left they looked at the window coverage of that room and they said okay whose house is that that neighbor's house and they went to go check it out every single Movement by the president was mapped out every angle on the president was basically mapped out and explored what happened here then like that's the crazy part it was actually amazing to watch I thought they did a great job it was really amazing so this is why how could this ever have happened where the most obvious shooting angle on the president was not properly covered it just makes no sense you could put two Blues up there just two beat officers on there would have solved the whole problem if you don't have enough Secret Service agents I I was at a Clinton benefit one time and I got detained by the Secret Service and went into secondary screening the reason given I had two cell phones on me they thought it was peculiar that I had two cell phones they kept me for 15 20 minutes in a side room and they literally took my phone apart in front of me took all the batteries out went through every bag they Fred me I mean wanded me like three guys around me they take this incredibly seriously yeah normally they're they're very thorough and they're very serious I mean look even at the dinner that we hosted they wanted to know what kind of steak knives we were using you know they like literally they wanted to make sure that that was safe and this is why they were so interested in knowing who is to the president's right and to his left because they want to think through every possible angle of attack on the presid it there was some breakdown here and in this case it something very strange happened and of course as I was just sort of alluding too early if this person looked like a SWAT member which apparently he did fatigues you know rang finder all that stuff I'm guessing that maybe those snipers from the Secret Service thought those were friendlies that's the only possible explanation of why they paused yeah but he wasn't dressed that way he wasn't he wasn't wearing uh he wasn't wearing a costume or he wasn't but even person laying there t-shirt the great fear you have as a police officer is shooting another police officer so I think that dude he was not in a uniform from whatever number feet away can I ask a technical question yeah are you telling me in 2024 that when you show up at an event to protect a vvvip like the president of the United States yeah that SWAT and other people aren't given some kind of like little pin that has an NFC chip or something where everybody knows who everybody is so that it's very clear very quickly when somebody in a position of risk is not on the home team they do have ways of doing that right there is a when you're under are you telling me for example like President Trump's pin or Barack Obama's pin or Joe Biden's pin doesn't actually have something in it I'm I would be shocked if answers it's just a pin well this is what they're this is a report that they're investigating that the delay in shooting the the sniper might have been that they thought it was friendly so this theory is out there now and it's part of the investigation it is a potential one you know I can tell you that that would be the nightmare scenario for the Secret Service is to shoot the local cop honestly guys I hate to be the one to say this but we've just our institutions are incompetent there's a lot of incompetent absolutely just like Afghanistan withdrawal remember that heads rolled there was no proper investigation of why so many people died unnecessarily in that Afghanistan withdrawal nobody's fired for anything anymore it's just ridiculous like and there's no resigning obviously nobody resigns nobody gets fired why would anybody so if this was a company this would be a failing company why would you not strip it down from top to bottom and rebuild it well exactly and I tweeted this counterfactual which is imagine if Elon had bought Twitter but he wasn't allowed to fire anybody do you think would have been able to restore Free Speech do you think he'd be able to restore innovation no if you're running an institution you have to be able to fire people when they don't perform but we have lost that ability of our federal government so there's something that's very very broken here when people fail they have to be held accountable or you don't get good performance right when institutions fail there needs to be a question on why are we funding those institutions nobody geted why would you give more money to a failing company You' never do this is the comment I put in the letter that I sent to that senior Democrat back in October I don't see any accountability with respect to the programs that you pass bills to fund you pass bills to fund these programs you stand up new institutions and then there is never a retrospective postmortem or review on the performance of those institutions or the objective of those programs and yet we keep funding them and asking for more money and eventually you end up with a decaying Empire like we've seen in history we need to have a series of actions that drive accountability in federal programs and then a review on the intention of those programs and make sure that they still hold and then we can move forward with new programs saaks is really right like you cannot have the Secret Service investigate themselves on this one of course not and they deleted all their text message and did a major cover up the last time around so you cannot trust them to investigate themselves no did you see all those Senators chasing them up the stairs yesterday you see that I did see that it didn't say which Senators it was I don't know if that was confirmed it was Blackburn what happened so a bunch of the senator confronted the head of the Secret Service cheet is her name right yeah and they confronted her and there's a someone video the whole thing on their iPhone of them saying we need answers why did you let this happen here's the video Nick can show it here just watch itation attempt you ow the you owe president Trump my gosh that's a bad video because what it does not show is the start and the end at the start were all standing around her having a conversation and then they started to press her and she said now's not the time this isn't the Forum then she took off they followed her and then she went into the Secret Service secure room upstairs and blocked all the senators from coming into the room her Secret Service staff blocked them so all the the guards said no you can't come in so they all got blocked out so the senators were pushing her for some feedback for conversation for dialogue and she wouldn't engage yeah oh my gosh I've seen enough resign now get out of the way proper investigation can be done total total total absolutely okay let's talk about the RNC a friend of ours gave a talk and the VP was selected uh you did a great job bestie thank you what was it like to get on that stage and I I have a bunch of questions about because it seemed like people are not sitting in in chairs right they're just mulling about tell us give us the behind the scenes and what was it what was it like getting prepped and doing all the kind of you have to review your speech like tell us all the details well let's see I mean I started working on this about I don't know a week before the convention and they they sent me some ideas for remarks and then I completely rewrote it with my research assistant/ writer and then sent it to them and there was some back and force but by and large they let me do what I wanted to do do they give you a a time like yeah the one thing the one thing that was kind of set was the time and they correlated the time with a number of words so they said you got 6 minutes which is 600 words and so that's what we work towards and then the big thing I had to learn was just how to use the teleprompter so they had these rooms set up where there were teleprompters and I could do some training on how to you know read a speech using a teleprompter what is that like like it's like it's just a matter of knowing where to look and trying to stay natural but also using the prompter as a as a nemonic device and does the prompter stop when you stop or how does that work there was actually somebody in the room who is physically advancing the words as you're speaking okay and so there's someone who's actually working the prompter and they will go get big Applause they'll pause it for you and you don't have to try to keep up exactly exactly so that was probably the biggest thing to learn and then the other thing about it is that you're speaking to a huge convention hall and so you feel like you really want to project in order to kind of Reach people but at the same time you're really speaking on TV as you guys know you'll come across as being kind of insane if you start like yelling into a TV set so finding the right balance between speaking to people in the auditorium and speaking to people watching from home that's kind of tricky and I'm reasonably happy with it and the most important thing is I got to say the substance of what I said not universally popular right I mean you you basically called for an end to the conflict in Ukraine and to stop funding Ukraine's defense against Russia and that's not a popular opinion in the Republican party is that right well I went further than that I said that this was not an unprovoked War it was a provoked war I said the Biden Administration provoked the war with with talk of NATO expansion you can just agree with that if you want I think there's plenty of evidence for it that's what I believe I feel like you went out on a limb more than most other speakers who kind of had a lot of good latory comments and you know promoted Trump yeah you could have pandered yeah you actually went out with a strongly held opinion that is you know fairly contrarian right well I think that most of the people in the Republican party and including most people on the floor actually agreed with me I think it took them a second to process what I had said and so you know what I saw when I was up there is I said that you know Biden provoked yes provoked the war and I think it was such a shocking statement to a lot of people because we've heard the whole unprovoked Invasion narrative so many times that there were like murmurs and then people got it and they started applauding I never actually intended it to even be an appause line I just thought it was an important thing to State the truth as I see it on the record at the Republican convention and that line did actually get Applause now a bunch of Ukraine stands were predictably outraged by what I said and they were trying to claim online that somehow i' had been booed or something like that there were absolutely no booze there were actually people applauding and then you know as I got deeper and deeper into the speech people applauded it more and more it was very much a speech that attacked the forever Wars it attacked the warmongers and and complimented president Trump for keeping us out of wars and complimented him for being strong but also having the savviness and the ability to negotiate with our adversaries to keep us out of wars and I think that's now a position that's very popular within the Republican party but it's a process it's it's evolving this is a perfect segue because there were reports that friend of the Pod Tucker Carson had a big impact on talking to Trump about his selection of JD Vance and said don't pick a neocon that'll get you assassinated that was one report that was advice that came before the assassination attempt obviously so conspiracy theorists are kind of losing their minds over this but let's talk about the selection of JD Vance because that is a big surprise I think in many quarters tell us about JD Vance you're friends yeah I mean I'm I'm friends with him and I very much supported his selection for for VP why is he the best pick in your mind well there's a couple of things so JD Vance repres presents a couple of very interesting characteristics on the one hand he's from this poor region of Appalachia that really represents the Forgotten man or the Forgotten cities and towns in America you could call it the the Maga Heartland and so Maga really likes him at the same time he's worked in Tech he was a venture capitalist he understands the future and he's popular in Tech so it's very unusual to get somebody who has magga plus Tech on their side together so that's one almost contradiction you could say that JD represents here's another one JD Vance was in high school when the Twin Towers came down and then we invaded Iraq and he was gung-ho to serve and to go exact retribution and Justice on America's enemies and he enlisted in the Marine Corps and he went off to serve in the Iraq War subsequently he realized that we had all been lied to about the Iraq War and that it was a gigantic mistake and moreover the forever wars were a huge mistake and to me this is something that I really appreciate about him and this is a quality that I really want at president Trump's side which is he's an American Patriot he had the courage to serve to go serve in America's Wars but he has the wisdom and the judgment to want to avoid those Wars when we don't need to fight them and there's way too many of like you said Jason these neocons these warmongers in the party who've never ever acknowledged their mistake in the Iraq war and all the forever Wars and they seem on virtually a daily basis to want to plunge us into the next Forever War so this is I think a quality that's of Paramount importance to have in our commander-in-chief and in the person who would be next in line to be commander-in-chief so for these reasons I very much support JD all right so let me get some feedback from the rest of the panel and just give you a couple of bullet points about him for those of you who don't know JD Vance yeah he worked at Peter Tal's mythal capital and Steve cas's revolu tion and so he worked for a Republican and a Democrat and Steve case started his own fir called naria capital and he went to Ohio State graduated y was uh actually classmates with v they talked about that he's only 39 years old so he's half the age of trump as you mentioned combat correspondent for six months in Iraq in 2005 39 years old and teal backed him with I think the largest Senate race donation in history 15 million and so this is quite a Ascension shth from Aventure capitalist to potentially vice president and obviously potentially president he's in the in the second spot so were you a proponent of the JD Vance as well super the Press says you Lobby Trump as well is that true he's superb I cannot say enough good things about this guy he's superb is superb he is a he's a bit of an enigma I think as saak said because he his views are so unique and he comes from a background that is very similar to mine so I have tremendous loyalty for the path that he had to navigate to get out just to get out and I think that that you know I really care for people like that and then he's done really good things with the resources that he's been given and the relationships that he's built and I really respect that too we all read hillbilly elig I don't know if we talked about on this pod years ago but you and I certainly talked about it a bunch to and you know he he came from nothing less than nothing less than nothing addicts and his and um he talks a lot in his book I don't know if you remember this about social capital and the fact that he didn't understand the name of firm is social capital people don't know the reference that he just didn't have the social capital to even understand that a lawyer went to law school totally and you know he he is an enigma his positions don't align with trumps in every case but they have quickly become aligned with trumps he's an incredible pick yeah yeah I thought he was an incredible pick before his speech last night and he even exceeded my expectations in that speech I just thought it was truly an incredible speech first of all the the introduction by his wife Usha was really you know incredible I thought she did a fantastic job and then he got up there and I a friend texts me who's not really that into politics he's just like this guy seems so normal he's happy he's normal he seems competent there was one commentator I think on one of the cable shows who I think meant this as an insult but it actually was positive he said that when you're at like a fast food restaurant something and need to ask for the manager JD Vance is the person you hope is the manager you know he comes out he's friendly he's competent he's reasonable he knows how to get stuff done I'm not sure if that was is an insult or a compliment insult I can tell you that's insult yeah but I think it's a compliment right and he's just so normal he's going to be very hard to demonize obviously they're trying to do it on cable news they're try somehow trying to portray him as an extremist or a racist even though he has a mixed race family the tent of the Republican party at this RNC Sachs is the most wideopen tent I've ever seen in politics they had Amber Rose and people were criticizing Amber Rose she was excellent she was excent she was fantastic I thought her was excellent she knocked ball out of the park and she's absolutely radi beautiful and she crushed it I thought speech was effective I thought it was authentic and it described her red pilling basically she s it described her Evolution and her journey from someone who believed the media's lies about Trump thinking that he was a racist to actually meeting the man herself realizing that the way they had portrayed him was basically a a slander and how she became friends with President Trump I thought it was an incredibly effective speech but look look there was very few people who didn't like it there was this one post by you know Matt Walsh online and he was roundly denounced for what he said I mean he kind of engaged in this Pearl clutching that they had allowed Amber Rose to speak because of her background value judging and it's like who who's it felt like it felt like a part of the Republican party that's on its way out you know this Pearl clutching social conservatism yeah in any event it was it was really an opportunity I think for people to disavow his criticism and support her yeah and point here is what you know they've done a really great job of and the did a wonderful job in his talk I want to give him a shout out of just saying Hey listen everybody can be part of this party I think there's a lot of notes the Democrats could take from what they saw at the Republican National Convention these are people who would have been at the DNC but you know one election cycle ago but because of this purity test you can't even you know win with them let's take the obvious we're trending into a direction right now where based on Donald Trump's pick for the vice president and some of the other surrogates like VI if Donald Trump were to win what you're going to see is a very youthful cabinet of a lot of 30s somethings and 4oms and I think that that's a really important thing to consider versus a bunch of 60 70 and 80y old career politicians correct absolutely Youth and vigor and again this new Direction you know a lot of people were commenting about JD's speech that large parts of it could have been given by Bernie Sanders or you know it's it it's this populist message that well let me ask you that yes sax is he he's he's had a position of breaking up big Tech and being pro-union what how do you reconcile all that and and this new Republican party yeah address those two because that seems to be a big discussion two two discussion topics yeah I think that it's definitely a new emergent republ repan party where this is I think this is Donald Trump's Republican party this is the Maga Wing the America First wing of the Republican Party we're moving from a party of basically the Chamber of Commerce you know Business Roundtable a bunch of oligarchic fat cats to being a populist party that actually represents the people and I think it's I think and they had the the teamsters up there yeah and I I think it's I think it's a very welcome change and the part of JD's speech that I like the best is when he described that hey I went off and many other people went off to fight in these forever Wars risking our lives or giving our lives we come back to our home communities and what do we find we find them hollowed out the jobs have all been exported the factories have shut down and instead the town has been poisoned by fentol that is a message that you have not heard in the Republican Party except for Donald Trump and that new part of the party and I think that Donald Trump choosing JD Vance was so important to cement this new vision of the Republican party it was a legacy pick because it means that this America First Maga message is going to continue into the future many years into the future and let me just tell you as I listened to that speech I uh hearkened back to another speech at a republic convention I heard 32 years ago I'm sorry to say I'm old enough to actually remember these things and I remember Pat Buchanan speech in 1992 and after he Pat described the factory workers who lost their jobs I just wanted to read what he said and I want you to think about what what JD said so what Buchanan said was my friends these people are our people they don't read Adam Smith or Edmund Burke but they come from the same schoolyards and the same playgrounds and towns as we come from they share our beliefs and convictions our hopes and dreams they are the conservatives of the heart they are our people and we need to reconnect with them we need to let them know we know how bad they're hurting they don't expect miracles of us but they need to know we care and I think that for two long Republican leaders ignored that advice they didn't connect with everyday Americans they were foolishly willing to cut programs like Social Security or Medicare saying that we had to uh cut the the deficit while at the same time funding forever Wars so they're totally not credible and the party was basically led by warmongers like Dick Cheney or Mitch McConnell or soulless Bean counters like Mitt Romney and Paul Ryan and I think Vance really broke with all of that and I think he represents the the future of the party he trashed the Iraq War he promised no more foreign interventions he railed against policies that benefit multinational corporations at the expense of workers and I think it's no wonder that the neocons lobbied so hard against his selection yeah but I think freeberg let's get you I think those days are over and I think that just me to say this end with this that I think that Donald Trump and JD Vance represent a conservatism of the heart that we haven't seen before and I think this is the future of the Republican Party freeberg does JD Vance being selected tip your vote towards Trump Vance ticket I think he's gonna do well for Trump uh I think if he what were who were his other options Nikki Aly I mean there were pressure for him to go after a lot of the neocons right saxs and get the never Trumper contingent wasn't that like a lot of the pressure absolutely I mean I think there was there was Doug beram who was that that was your favorite no freeberg not my favorite I met him seemed like a really thoughtful guy he's done an incredible job managing the state of North Dakota but he's got some social policy issues that I think are going to rub people the wrong way and I think to Sax's point he's more in the camp of supporting Ukraine which it seems like some part of the the party are starting to come around and say no so it seems like he was in a great fit ultimately yeah by the way I I I met um Doug bergham the other night and he's a very nice man who I think can play a very important role very nice guy who I think can play a major major role in the part incredible business sold it to Microsoft yeah there's nobody who understands I think energy better and all the regulations that have gotten in the way of making America energy independent and tapping our vast energy reserves so I found him very very impressive on that but at the end of the day you know it's it's just not the the the kind of pick that JD is I remain a moderate undecided voter I love JD Vance I think it's an inspired choice I know saaks where you're voting I'll take some guesses on youth but freeberg where are you stand right now I'm very happy that RFK Jr was not selected as the VP why to be on the the ticket I think RFK uh would have been a challenging partner for Trump and it would have led to a lot of disagreements and I think that RF K has some policy perspectives that I don't agree with particularly as it relates to Health Energy Agriculture and so there are some disagreements I have with respect to his view of the world I will say JD seems like a pragmatist he seems highly intelligent he seems highly competent and I I know that he has not been in a governing position before right so this is really critical to to note this is a train job for him in a large way he's been a senator and he's been an investor and he's been an individual contributor as an investor he's built his own firm but it's not a scaled firm so this is going to be a a really interesting kind of process to watch unfold but I think from a policy and a strategy perspective he can have a really positive impact on the direction of the things that we talked about earlier which is accountability in government programs having a clear set of objectives making sure that we focus on those objectives and don't spend time and resources on things that are fluff and perhaps aren't really meeting the objectives and I think that he'll have the thing I do have concern about I think that the Nationalist agenda the the nationalism and the isolationism agenda is counter to global trade which can be deeply inflationary and that is one concern I do have which is the ability for the US to export and import with other trade Partners around the world I think is critical for us to continue to grow our economy and keep inflation down so if we take policy action that limits our ability to import because we impose tariffs on other Count's goods and services it can be inflationary makes things more expensive for Americans everyday Americans to buy when everyday Americans go into Walmart and they buy products a lot of those products are shipped from China so if there's a tariff on those products and the price of those products now goes up by 30 40% that can be a real burden that drives inflation that's the point about the nationalism on manufacturing and inputs so freeberg you're pretty convinced at this point that a reciprocal trade agreement would cause inflation hyperinflation no no I think I think that the idea the general statement which I don't think is necessarily how this is being executed I just want to make sure that we're all cognizant of the point that if you introduce and if you introduce tariffs on reports it will drive prices up now that may be the right thing to do from a policy perspective as we heard from from president Trump when we interviewed him his belief is that this is an important security stick that we use it to drive reciprocity and we use it to hold China in check and so that may be a more important strategic priority over the increase in the price of certain Goods the problem that will arise and this is this happened during the last Trump Administration if China then responds with tariffs on the export of us agricultural products so our biggest buyer of agricultural products today is China and then China put tariffs on our export or they stopped buying from the US and they started buying from Brazil instead the farmers are hurt and when the farmers are hurt the Trump administration had to spend money to support Farmers tens of billions of dollars yeah they subsidized it they subsidized they paid farmers in a in a way and so the federal government then has to step in to meet the gap that arises from what will end up becoming an escalating tariff problem or an escalating purchasing problem so global trade allows the economy to grow gives everyone a market you can start to trade but there's also these security issues I do think it's important that we onshore a lot of manufacturing I think it's important but there's going to be a period of pain there's going to be an investment needed and it's not going to be simple and easy and we may face quite a bit of inflation on the path to doing that give us an update here at the end of the show freeberg on scholarships people been asking for the all Summit so this week we are opening up scholarship applications you can go to summit. Allin podcast.co and uh we have a very very very limited number of scholarship tickets that we hold for the summit like we did the last two years the applications are open now please get your application in right away because we expect it will be completely overbooked almost immediately and some of those scholarships are going to be sponsored by athletic Brewing Company so thank you to athletic Brewing Company we're paying for a lot of our scholarship recipients to go to the all Summit this year really exciting programming coming together we have more details to share in the next couple weeks and we do uh we we do have one more last block of GA tickets that we're going to release get your application in on the website summit. Allin podcast.co for a ga ticket for the last block thank you all right let's just do one quick business story here since we spent the bul of the episode talking about politics and current events exits creeping back stoy is doing a secondary sale of their stripe investment one of the greatest Investments of the last decade and Google is in talks to acquire whiz and this is absolutely amazing news for the industry which has been suffering from a lack of distributions as you can see in this chart chth after 2021 exit values just plummeted and there are some signs of life now let's start with Sequoia buying back some stripee shares from its own LPS sequa Capital has invested 517 million in stripe that's currently worth about 10 billion 20x Michael Moritz uh led the seed in series a skoa offered to buy back 860 million in stripe shares from LPS and its Legacy funds those are the funds between 2009 and 2012 sooa is using capital from their newer funds like it's Evergreen fund that was formed in 2021 the Heritage fund that's their wealth management team to give the Legacy fund some liquidity it's not normal that a company stay private this long it is the exception to the rule but it has happened actually happened with Uber to a certain extent so Legacy fund LPS have the choice Sachs to hold sell some or sell all of their shrip shares here's the quote from the note seoa personnel and Associated persons will not be offered the option to sell stripe shares previously received as carried interest distributions from the Legacy funds and they are are offering 2750 a share which is pretty generous $70 billion valuation as you may know stripe has hit as high as 100 billion in market cap in the private markets so this will be a from the seed which was a 20 million post a 3500x for those LPS and for the series a it is a100 million post which is 700x for those people who don't know I think it was Sam mman who did that investment as a sequa scout in the same fund that I did the Uber investment so still the number one and two Investments there your thoughts jth on this unique opportunity and device to sell early shares from the same Venture fund I have two thoughts the first is that it's interesting to see that they Mark the valuation up to 70 billion so that's a good sign for stripe but the second thing is I was a little kind of puzzled by this whole thing it's a very complicated thing when you're buying old Stakes into a new fund and Crossing funds it's sort of like actually one of those things that are supposed to be verboten and when you're trying to build a good fund with great governance this is actually at the top of the list of the things that you're never supposed to do which is to provide liquidity to a group of LPS via another fund that you control but I think the this actually shows what may be going on behind the scenes so I don't want to be conspiratorial or anything but it would be a great way for the GPS to get liquid to meet their Capital calls here without having to pay capital gains tax and that makes a lot of sense for the GPS themselves and so I suspect that that probably well they did say that the the GPS aren't going to get to liquidate anything so they did put that note in there so they've anti you provide you can provide no meaning but that what that means is you can provide liquidity you don't get to pull the money out that's fine but then now you can use it to fund Capital calls but I don't like it I don't like these kinds of like things where One Fund is basically scratching the back of another fund it's it always tends to be the case that this stuff on the surface looks a little smelly and can be a little unseemly and this is why you're not supposed to do it you're supposed to go and get some other random fund to buy these things and I think it's generally a much cleaner thing to do and the hygiene of it is clearly what we see Sachs in that documentation giving people choices you can make your own choice we're not taking carry we're not selling our shares but we're and we're only selling 10% so they they did go to Extreme Measures I guess to outline that but your thoughts on this uh type of sale it happens in private Equity all the time I understand but we don't see it in Venture all that often what what are your thoughts on this providing liquidity to the 14year old funds well first of all there's a Kid Rock concert going on behind me distracting for no no it's been uh it's going to be lit that's all I can say if he's introducing president Trump it's going to be pretty baller tonight uh we're taping on on Thursday obviously uh this episode will probably come out tomorrow but in any event with respect to the Sequoia thing look I think there there's this this overarching issue of the fact that VC funds are classically designed to be 10-year funds the money is called over time usually over the first few years it's invested and then you don't get liquidity I mean it's not like a mutual fund where you can take your money out you get liquidity if and when the fund gets liquidity and these funds are meant to be long-term IL liquid Vehicles so like I said 10 years and typically you can get two one-year extensions to the funds so then the question is what do you do at year 12 if you still got positions in those funds well I think a pretty good solution is what I think sequ is doing here and what I've heard other people do which is if you have a security that's not public yet but is semi liquid because it's a very late stage private company then what you can do is spin those shares into an SPV or to some other vehicle and you let new investors come in and buy those shares at some price and then you give the option to your old investors do you want to sell or do you want to roll into the new vehicle so nobody is forced to give up their ownership position but if they want to get liquidity and there's sufficient Demand on the buy side that you can get get them that liquidity it's a really elegant solution I can't say I know exactly all the details of what SEO is doing because they've got this two-tier fund structure that makes it a little different but I have seen in other cases people have distributed shares into an SPV and then new buyers can come in participate and then the old investors get to decide whether they roll or sell so it's a pretty good way of handling valuation just to uh sorry I didn't clarify this valuation is based on the four last 49a so that's the one thing about SEO that's a little different is remember it's their kind of like Global Mega fund that's buying the shares as opposed to an SPV normally what would happen in terms of figuring out the price is you'd want to use some sort of validated secondary price but obviously it' be have to be a market clearing price where new money wants to come in at that price and this is a little bit different because it's their pre-existing fund that's buying at that price and so how do you sanity check the valuation and I guess I would just want to make sure that yeah that that valuation is a secondary yeah it's like the secondary that's what it's trading at in secondary markets and that's what the 49a is so I guess that would be the hygiene there but it's certainly unique and uh I guess great for those lless well I mean we uh we had a similar thing happen with Uber where they did the secondary and um you know they they had masi yoshian masi yoshian come in and do an that's entirely different yeah you had you had new money coming into your point so here is the Second Story related to DPI and uh VC's getting to cash out Google's in advanced stocks acquire whiz for 23 billion according to the Wall Street Journal it's an Israeli American cyber security startup that was founded only in 2020 backed by sequa index insight and Tron and others one of the fastest growing startups ever reaching 500 million in AR in 4.5 years Google would be paying 46x forward Revenue they think they'll have a billion in ARR sometime next year and um what are our thoughts this in terms of m&a you saw it on this AT&T hack of snowflake but Cloud security is a really big deal the more cloud services you have the the more difficult it is to lock these things down and so whether it's Google or Amazon they have a or aour they each have a really big problem on their hands which is that if all these customers are convinced to move these workloads into the cloud but then you can't secure it and you get hacked that ends the business so whiz is an incredible Testament to I guess engineering prowess I don't exactly know to be honest with you the quality of the product obviously I don't interact with those kind of products every day but the fact that they're willing to pay such a premium means a the product is good but more importantly B in the absence of cloud security these Cloud vendors are going to be constrained in in how fast they can grow so what an incredible Market what an incredible incredible Market I have to say these two things have really helped the climate in the lp Community um this past week a lot of chatter about IPOs that are getting filed and that we could be ending the drought and people were feeling very very um pessimistic about Venture as a category and I think these two things have changed a lot of people's feelings on that so good work there and I think it also signals maybe some regime change expectation sacks yeah Lena Khan maybe getting booted uh when this regime change occurs and next year and then maybe more m&a would occur what what's Trump's and JD Vance's position in your mind on m&a and Lena Khan saxs if you had to interpret it well something that's very interesting is that JD Vance has been relatively positive towards lenina khon he's yeah that's the weird he's one of Lena con's few Republican fans and the reason for that is because Lena Khan for all of her faults and we've described them here has been willing to take on big Tech the fact of the matter is that the top handful of tech companies the microsofts the the Googles Amazon these are Big Tech monopolies there's just no way around that fact and they do need to be closely watched and supervised and regulated with respect to their Market power and I do think they use their Market power in inappropriate ways if we've discussed on this podcast I sometimes think that lenina Con in her approach has been a little bit more of a Cleaver when she needed to use a scalpel I don't think that she should stop some of these what I would call R&D Acquisitions from taking place where there's no accretion of market share but rather Stars being bought because they contribute a useful piece of technology I don't think you want to shut down that part of the market Lord knows we don't have enough exits as it is like we were just talking about so I think you know it would be great if we could kind of massage Lena Khan's approach a little bit but I think that it is a good thing that she's not willing to just roll over and let the big tech companies do whatever they want and I think JD Vance appreciates that about her so look I don't think that L Khan's going to be running that agency in a second Trump Administration but I think how much the problem with Republicans so saxs is the freedom of speech issue and Republicans being banned on the social platforms including it up to Trump I mean if that issue wasn't there I think you would probably see maybe a different approach yeah well I think it's a huge issue because the fact of the matter is you've got these Tech monopolies who are using their monopolistic Market power to put their thumb on the scale of our political discourse in favor of one side versus the other so obviously if you're on that side of the aisle you're going to be up in arms about that you're not going to be happy about that and I do think that given their Market power they have an obligation not to distort our democracy by artificially suppressing one side of the debate yeah so I think that yes Republicans should be up in arms about that and they should be resisting censorship and JD evance specifically mentioned censorship in his speech that seems to be his main issue I think we'll see under Trump a lot more mid-market m&a if I were to you know let's call it under 100 billion dollar hundred billion do acquisition would be fine with me under 100 well I I really like the part of his speech where he said that in a healthy democracy we we debate ideas and that's good we even have debates in the Republican party and that's good the last thing you want to do is censor the marketplace of ideas gosh I mean are we going to hear anything like that from the Democrats when they do their convention well in breaking news as we wrap up this program the hot swap summer will continue apparently Biden is predicted to resign this weekend we'll see if it happens speedrun primary noas is predicting it happens with nois Sor nois will keep his position the hot swap is coming well Jal at this point I think you're you were right about uh Biden stepping aside I thought he was out of the woods he did that press conference that NATO press conference where he did make that one mistake that senior moment where VP yeah oops but that was the kind of thing where he got his name mixed up but yeah other wise he sort of seem to be finding his footing in terms of talking about policy and the brush fire was sort of put out right but then for some unknown reason he goes on and does that ler hold interview I don't know why they were still letting him do interviews he should only be reading from a teleprompter and he mixes up he's he forgets the name of his secretary of defense Lloyd Austin and he just refers to him as the black man the the BET yeah it was a BET interview so he did the Lester hole interview which was not good and then he did the BET interview which the money up right chth so once the money goes it's over well yeah and he he also did a a horrible one with 360 with speedy speedy Mormon and that was a train wreck there was a couple moments there that are just total gaffs they they say Pelosi and uh Schumer told him it's over and I guess that mean and kenberg you're right Jason when the big money is gone and they make the call you know yeah it's done it's done isn't that amazing what we've learned about the Democratic party you know know like the the coup deoss was basically kenberg going in there say yeah I can't raise any money for you and then boom he's out I am shocked that any political party would be swayed in any way by political donations enjoy the uh enjoy the RC sacks I love you guys I gotta go dinner love you guys talk to you soon for the chairman dictator the architect David sack and your sulan of science who ducked out a little bit early I am the world's greatest moderate moderator we'll see see you next time bye love you [Applause] byee let your winners ride and instead we open source it to the fans and they've just gone crazy with it love you [Music] Queen besties are that's my dog taking your driveways yeah oh man my meet we should all just get a room and just have one big huge orgy cuz they're all just useless it's like this like sexual tension that they just need to release somehow we need to get merch [Music] our I'm going all in