SPEAKER_00: i gotta count the other another billion dollars i lost i've lost two two billion dollars in

SPEAKER_01: the last two days are you guys recording please record this looks like we looks like we need a

SPEAKER_04: poker game tomorrow can you imagine how tilted chamath is gonna go yeah he's gonna be in the

SPEAKER_12: markets he's gonna buy in for two million just to try and get even hey everybody hey everybody

SPEAKER_19: welcome to another episode of the all-in podcast we took a week off and boy that was sad i missed

SPEAKER_00: you guys i missed my besties we should tell people we had a we had a small medical procedure for one of the besties and uh but everything's good and uh it was planned so you know nothing nothing out of the ordinary but we just needed to take a week off that's why we missed a week and that's why we're

SPEAKER_27: back yes and one of the besties uh god i got so many jokes i'm not gonna tell all the jokes that

SPEAKER_28: came into my mind right now would get me get you cancelled really just i literally had seven jokes

SPEAKER_30: i can't tell any of them based on the amount of money that i've lost in the last two days i'm ready to get cancelled so it's fine put them in the chat and i'm just gonna let them rip

SPEAKER_37: all right everybody david sacks the rain man is here calling in from an undisclosed compound

SPEAKER_39: frieberg the queen of quinoa back in action and the dictator himself licking his wounds

SPEAKER_40: two billion dollars for billion a day keep it going checking the apple stock app hitting refresh and going thank god these companies have fundamentals because i haven't seen this much blood since

SPEAKER_44: game of thrones jason honestly at the at this run rate i can lose a trillion dollars

SPEAKER_46: tomorrow how do you feel today

SPEAKER_50: how does today feel compared to last march when the same thing was happening you know every day the market was down ten percent well this is what's important we made a joke it was like it can only go

SPEAKER_00: down ten percent so many days in a row march march uh 31st you you guys have to remember that march 31st of 2020 the headlines all over the press and you can you know go to the way back machine and look at these things but the dow was down 20 some odd percent the s p was down 20 and it looked like the world was going to end and then we had our first big stimulus bill um and things started to look up china started to reopen slowly and things started to look better and what's interesting is you have this rotational sort of deleveraging that's happening right now people are repricing in inflation people are moving into sort of these you know overlooked stories getting out of growth a little bit and it's a blood bath um but i would just i would just encourage us all to remember that we were in some pretty dark days in march of last year as well and you know when you looked at it by the end of the year it looked

SPEAKER_58: amazing so i would just add to that the markets are looking pretty grim for tech stocks right now but this all started because of a really great jobs report showing that the economy is roaring back so we added 379 000 jobs in february which beat expectations by 200 000 they also revised the january gains up 166 000 so now the unemployment rate is down to 6.2 percent remember it was at like 15 percent you know last summer during the the lockdowns for covet so i mean all of this is fundamentally due to i think really great news in the economy because covet is ending and which kind of begs the question of why we need another 1.9 trillion dollar stimulus bill but but i think that ultimately there's a lot of

David Sacks: good news in the real economy and what investors are doing is figuring out how to now price or reprice all these different stocks in light of the economy roaring back so just a little just a little math

SPEAKER_00: lesson to build on what you're saying you know everybody has a risk-free rate and all stocks are priced according to that risk-free rate and when you know for the many for the last sort of year particularly when risk-free rates were essentially zero to negative meaning you know that's that's the riskless money where you that you get from the government um it was hard to do anything except belong growth stocks in a big big way um but david to your point if we get two or three more quarters of these kinds of jobs numbers you're going to have a you know low single digit unemployment number and what that means is wages will have to go up for businesses to compete and that's the kind of traditional form of inflation that actually reprices things because you then you lever up rates to kind of control inflation when you lever up rates and you you know all of a sudden they're not zero but they're two three four five six percent this is sort of what brought the tech bubble to a halt in 2000 which is that you know you had six percent real rates and so you can't own businesses that are projecting revenues let alone profits in 2026 um when you can invest your money in a bond and make

SPEAKER_50: six percent six percent and that's what i like so just for folks that don't know this week started with this big bond sell-off and what that means is bonds that used to yield zero percent when you sell them they're now yielding ten-year treasuries i think are at one and a half points right and so as an investor if i can make one and a half percent with no risk by owning u.s treasuries over the next 10 years that may feel like a better bet than owning some risky asset um some speculative company now the other thing that that it has done and chamath correct me if i'm off on this but what i'm hearing is that that higher rate because bonds sold down because people are expecting inflation to come back up the interest rates to borrow money are going up and so if you're a hedge fund or a institutional money manager over the last year or so you've been able to borrow money for zero percent you can lever up your portfolio and and and buy as many stocks as you want without paying any interest on it and now that rates are creeping back up people are de-levering they're they're taking risk off and that's causing a sell-off in both bonds and stocks and especially

SPEAKER_68: on the speculative end of the market where you know there's been um obviously unchecked kind of

SPEAKER_00: investment capital no you're you're you're absolutely right like look at the at the end of the day the cost of borrowing for a company goes up what that's really saying is the investor that's lending them the money um you know has other alternatives um and so then they're willing to charge you more and more for this for this capital and as that happens you'll see some companies get into potentially some real trouble because you know they're going to be borrowing money at rates where they can't necessarily generate the cash flows in the future to pay those things back at the same time as you said if you look at sort of like you know the spac market has taken a real beating um what are what are spacs really well you know in many ways spacs are synthetic bonds right and and the reason is because you know if you go and boy if you go and buy a spac one share of any spac you have the ability to redeem that if you don't like the deal that it does and get back your coupon so you know your notional rather so if you were to buy a government you know german bond at negative one percent or buy any spac where you can put that same you know ten dollars to work and get back ten dollars well you do that versus getting back nine dollars and ninety cents so in many ways like you know the spac market benefited from rates at zero because you could synthetically belong spacs as almost a way of being synthetically long fixed income now as rates go up that's not true so what that leaves in the spac market are actually people who want to own long-term equity and if you combine that with what we just said which is the cost of capital going up and the discount rate going up now all of a sudden companies need to be really real and you're seeing that because if you look at the companies that have just announced spac deals just in the last few days their stocks have gotten absolutely obliterated and they're right on the knife's edge going into the redemption period so if you have one or two more months of this where all of a sudden bonds look better and you know some of these spacs post announcement but pre de-spacking

SPEAKER_70: go through you know ten bucks a share people just redeem for ten dollars um and you'll have you'll have a bunch of busted ipos or by the way by the way another thing we're seeing sorry jason

SPEAKER_50: but another thing i think we're seeing right now is in the near term is a feedback loop so as selling takes place what happens is market participants are jumping in and short selling and participating participating in the trend of that stock and so there are these these kind of experiences that are underway where it's not just about a sell-off of owners but it's also about a momentum trade that a lot of people are playing into and so there is a very short-term extremely compounded effect of the

SPEAKER_73: de-levering that's happening and the cycling that's happening in these markets and so it's super volatile and probably will be for a little bit of time here right i think so i think we need to figure out

SPEAKER_00: whether there's really um whether there's a real inflation risk dragon cooking someplace if if there if there really is inflation like again you have to think like the trillions of dollars we put into the economy eventually has to come out in productive goods and services and all of that excess capital will probably inflate prices now it begs a different question which is we maybe we've just actually been missing inflation all along because if you ask somebody who lives in a city you know what the cost of rent has been that that thing has been inflating by feels like 20 a year for years

SPEAKER_79: so you know healthcare and education costs and healthcare and education so maybe we've just done

SPEAKER_00: a really terrible job in the last few years of actually measuring inflation the way it should be you know it's calling this whole basket of you know you know cpi x energy like i mean it's kind of nutty maybe the whole thing just made no sense a few years ago to david's point and david gave me

SPEAKER_80: just a huge bag of red pills while we were off this week so i've been just i've been on a bender

SPEAKER_81: on these red pills but if you look at those three categories what do they have in common education health care and housing massive regulation uh and then if you look at the things that have gone down consumer goods electronics food etc or have stayed flat in terms of inflation those are things that the

SPEAKER_58: free market participate the government's not involved and it's not just the fact there's a lot of government regulation in things like health care and education it's also that the government pays for a significant portion of it and so there's no reason for the people you know who are building the government to keep costs down i mean this is why the price of education of a college degree

David Sacks: keeps going up is because the government's paying for a lot of it i i i david you probably i i think you

SPEAKER_00: may have seen this but when you know when we announced um our merger with clover for ipoc one of the first slides i put up there was the only place in the market since 2010 where you would have made more money than being long facebook and google and apple and amazon was being long united healthcare cigna wellspring and the reason is because health care was this incredible thing post obamacare nobody wants to talk about it on the left because it makes it look terrible but we created massive price inflation and united healthcare was a 30 billion dollar company narrative violation be careful right before right before obamacare passed today it's a 330 billion dollar company um and the level of growth that they and etna and you know cigna and wellspring these con these companies have have seen is astounding so these highly regulated you know systems of societal infrastructure oh that's where all

SPEAKER_62: the gains have been regulatory capture writ large right well as soon as the government is paying for

SPEAKER_58: it all the suppliers know they can increase their prices why wouldn't they so it's it's what happens

SPEAKER_89: is the government tries to make something free for people and all they end up doing is making it really

SPEAKER_00: expensive well they make it they make it they make it they make it now they make it expensive in this very in this very convoluted way which is hard to track right because it's like you know uh who's actually paying well you know the insurance companies want to just book more revenue even if they're you know

Chamath Palihapitiya: even if their gross aggregate profit grows much much more slowly they'd rather make the same amount of profit on a billion dollars versus a hundred million dollars so what do they do their incentive is to just jack prices up who are paying those prices companies pay those prices who bears those costs all of this stuff is really not clear because ultimately downstream somebody has to pay for this

SPEAKER_81: stuff taxpayers and it's all obscurified i mean look i mean look at the tent story that we were sharing on our group group thread 61 000 for san francisco to put people into tents with a no big contract one question i have for for you all um is if we look back the last time we were at six percent unemployment july 2014 we look at the unemployment graph it's spiked up to as we discussed fifteen percent and it has plummeted back down now to uh the six percent rate if we look back on this moment in

SPEAKER_97: time and how quickly the economy is recovering from this disaster that we've never experienced before it looks like this recession is going to be recovered and we're going to we're already back in business in such a short period of time compared to what happened in the great recession and the dot-com boom so is america and the us dollar and the economy anti-fragile now to use a taleb term what how do we look at what happened with the economy did trump do everything right with the stimulus this is a this

SPEAKER_00: is a complete outlier in the following way in a typical recession what what has to happen is so you have a contraction in the economy but you don't know when the bottom is right the bottom is some number of months in the future and government policy is basically trying to create a soft landing where all of a sudden the cost of capital is low enough now where people say uh on the margin now this incremental dollar i would rather borrow and invest which drives growth which then gets the economy growing going and so you know how does a government deal with that they are looking at

Chamath Palihapitiya: economic data and saying okay you know what let me cut rates i'll cut rates again i'll cut rates again and that's really the one tool that they have in their toolbox because they're trying to predict in the future how many rate cuts do i need to get or have rather how big do they need to be um until i get to that place where you bottom out the pandemic was the exact opposite because in many ways we actually hit the bottom in month one because we said everything go to zero right now right when you shut everything down you technically can't have less economic activity than zero yeah and so and so in many ways you price the bottom on day one boom and in hindsight you know the the real insight would have been to to see that and say i'm buying this moment because it only gets better from here so in in one ways like all of the tools are are actually now we need to think about them in opposite and i don't think we have that training to do that well so we're still going back to the same toolbox which is why what david said is so true you know we're thinking about incremental stimulus as a as like a way to get to a soft landing but we've already actually taken the hard medicine a

SPEAKER_81: year ago let's let's tackle that sax should we and let's let's take virtue signaling and populism out of this discussion just on an economic basis is it necessary to send every american another 600 000 2000 knowing what we know today with the unemployment rate going down or would be red or we'd be better off taking that capital and deploying it in education right unemployment or something else

SPEAKER_58: well first of all it's 1.9 trillion that we don't have we're borrowing it i mean i would extend unemployment for people in those hard-hit sectors that haven't come back yet but most of this money is going for blue state bailouts of cities that are totally mismanaged this is not going to help states

SPEAKER_107: like california or cities like san francisco get their house in order because this is going to bail them out and defer that day of reckoning from their chronic mismanagement so we're borrowing money we don't have to bail out people cities and states that don't really deserve it i do think we should help the people who've been impacted but um but it doesn't require two trillion and look here's the thing we're already down to six percent unemployment we're going to be down to i'd say probably three or four percent in two quarters i mean the economy is coming roaring back and the reason it's coming roaring back is because covet is ending right so the biggest announcement recently and i think this is

SPEAKER_58: playing into what's happening in the stock market as well is that biden announced that every american who's over the age of 16 who wants a vaccine will be able to get one by the end of may

SPEAKER_107: by the end of may i mean we're going to have yeah yeah right well he was just yeah when he came in

SPEAKER_07: office in january he's saying the worst is not over blah i mean that was clearly sandbagging the worst was over and we're going to have 300 million doses by the end of may and the only reason why everybody

SPEAKER_107: won't be able to get one is because of states that are you know creating these ridiculous hoops to get through confiscating them yeah exactly like california right now is has 3 million doses sitting on a shelf because of all the crazy hoops that gavin newsom has everyone going through because he wants to score uh brownie points on equity right um so if the government would just get out of the way let everyone who wants to get a vaccine get one without worrying about making sure the exact right person in the exact right line gets one first this thing will be over by memorial day over now look there'll still be a case here or there for sure there'll be i'm not saying there'll be zero cases of covet but there'll be zero pandemic understood as such by the way i'll also say one other um you know important

SPEAKER_73: point about the stimulus uh one that that sax made yesterday the cbo put out a a projection uh this is the um the budget office uh i think congress and they said that the um u.s national debt is likely

SPEAKER_50: to reach 202 percent of gdp by 2051 so the amount of debt that the u.s government will own um is 2x the amount of all the revenue generated by all of the industries in the u.s um in about 30 years that's an insane statistic and the reason that people look at you know gdp or debt to gdp is because you have to pay your debt down at some point you owe some interest on that debt you have to pay it down and every year you have to generate revenue to pay the bondholders and how do you how does the federal government generate revenue it either issues more debt or taxes and in order to meet a 202 percent level of debt relative to gdp you end up raising taxes so significantly as a percent of gdp to cover the uh the uh the interest payments and the the principal payments every year that you end up stalling out the economy cutting important services etc and so we're in a circumstance now where the the the benefit we're going to get from taking on this additional debt relative to economic growth and stimulus um doesn't actually uh outweigh the cost of that debt and we're facing a fiscal crunch at some point in the next decade or two and there is this flood this big question mark outstanding right now on a global stage is the dollar really the safest place um to be does everyone really want

SPEAKER_73: to be dollar denominated if this is the circumstance that the u.s federal government is going to be

SPEAKER_81: facing uh here's a uh question for chamath that i'm curious about if the government is buying all this

SPEAKER_120: debt shouldn't they be buying some amount of equity as well so they can profit from oh the government's

SPEAKER_97: issuing debt jason no i know but isn't the government also going into the market and buying up corporate debt through all of this shouldn't they have profits coming from that so there there was a

SPEAKER_62: risk last year where you know corporates may not have been able to fund their obligations and so

SPEAKER_00: the government basically said we're going to be the buyer of the last resort and step in and effectively what they did was they they essentially froze the credit markets because if you were going to then bet on some of these companies not being able to raise capital you would have gone to the worst part of the you know the stack or you would have bet actually that there was going to be the state transition so meaning debt is very tightly scripted as you know triple a plus you know double a a minus and these transitions from these tiers of like investment grade to junk to whatever are huge events and basically the government said nope uh everybody take your chips and go home because we are going to backstop companies like ford or whoever folks that were teetering and so they they effectively said this is going to be you know until i tell you otherwise

David Friedberg: a rigged game i'm going to make sure i backstop these things these companies will always be able to

SPEAKER_97: have money so my question though chamath is if the government is going to do that and take that risk shouldn't they get some warrants or some upside in the company's future success to then create a

SPEAKER_81: virtuous cycle here that if they did backstop it maybe they had warrants for five percent of the company like you would give if you were doing a debt instrument they could probably do it if they

SPEAKER_00: were a direct lender and they they had that chance and they didn't really do it in 2008 when they did it i mean maybe they could have done it in a better way here when you enter the open market there's no such contract and so you can't negotiate that look i i i want to sort of talk about something slightly related to this which is if you actually looked at that 1.9 trillion dollar stimulus bill the thing that makes the most sense and i think nobody would complain about was saying let's give a means based test where the poorest americans get the most money call it five or six thousand and the richest americans get nothing and i think nobody would disagree with that and if you added up all of that money it's probably on the order of 500 or 700 billion dollars if you did it if you did a really expansive package and and and i think people would i mean all of us would raise our hands and say we

Chamath Palihapitiya: shouldn't get a fucking dime and i mean you know people other people should be getting many multiples

SPEAKER_97: of 1400 why should anybody who wasn't impacted sax get anything like if you were not impacted yeah of course you didn't lose your job you're staying home you're not spending money why should you get anything because i think that's all the money going into nfts and making bets on gamestop and doing all this

SPEAKER_135: you know shenanigans with bitcoin of course look this is rahm emanuel 2.0 remember rahm emanuel back

SPEAKER_58: in the 2008 2009 financial crisis said never let a crisis go to waste this is now never let a crisis reach its end right they don't want it to be over because this crisis is a justification yeah this

SPEAKER_107: crisis is the justification for this piggy bank of spending that this this wish list that they wanted

SPEAKER_07: to pass for a long time very little of it actually has to do with helping the very little very little

SPEAKER_00: in fact if you actually look at the the breakdown of this 1.9 trillion dollar bill it's every typical bill it has a better title but ultimately it's a bunch of pork barrels by the way there's a bunch of

SPEAKER_50: insanity in there like covet testing i mean guess what we don't need to test anyone for covet in about 30 to 60 days away we needed there's a couple billion dollars we could save you know and and the list goes on but i think the point is uh what sax is making is totally true we're continuing to latch on to the covet pandemic crisis as a means to an end um and we're not really solving any problems that are outstanding as the covet pandemic and the risks remember let's just go back a year if you guys remember the reason we shut down the economy was to flatten the curve there was no assumption we were going to end covet the idea was let's make sure that the health care system doesn't get overwhelmed with people dying where we can't handle as many people in icu beds and now we're in a situation where we're saying you still can't go outside icu beds are largely open you still have to do x and y and z we still need to be testing everyone and all of those risks and considerations should be coming off the table as more people have had covet and more people have gotten vaccinated and instead we're using the fear that's been embedded in us over the past year as a mechanism to drive spending in a way that is clearly economically unsustainable um ultimately counterproductive and unfortunately is being you know used as a mechanism for keeping folks in office and paying back their friends and all this other sort of nonsense it's freeberg you had a you had a breakdown

SPEAKER_00: of uh it by the way because it's not just the the federal stimulus bill you know the the california

Chamath Palihapitiya: breakdown of what they spent insane do you have that do you have that can you fill it up what i'm

SPEAKER_144: gonna do is i'm gonna send the link because it was a through a foyer request they were forced to

SPEAKER_50: list it so california had an emergency declaration joke a total joke through that through that emergency declaration it gave the governor the power and the ability to enter into no-bid contracts to meet the the demands of the quote-unquote emergency and the contracts that were entered into are all publicly listed and available in a link that i will share with you guys um and it'll be available online i don't think a reporter has done what needs to be done which is to go through those contracts and identify how much money was spent on what and where that and why that money was spent and who ended up benefiting from it some of these contracts including for example 1.9 billion dollars to perkin elmer to provide nasal swabs and other you know reactive chemistry needed to run covet tests with an overflow capacity of their lab of 4 000 tests a day which by the way costs a few thousand dollars um for 1.9 billion dollars and ultimately california didn't really do any of the testing it was done by private labs where did that 1.9 billion dollars go there was another amount of money there was a hundred million dollars spent on accenture to build the vaccination website no bid contract 100 million dollars for a freaking website website in a weekend there was the carbon health guy did there was another um separately for his own vaccination program that he was running which you know obviously highlights just how inept this whole process is there was another um incredible multi-hundred million dollar contract entered into for a guy and then i looked up his address on google maps and i looked at his home in his office it's in like a strip mall next to a donut shop and this guy is the guy he's a he's technically a doctor but not really a practicing doctor who would who got paid hundreds of millions of dollars to source overflow um hospital and doctor capacity for prisons in the in california insane the that's in there and so um you know the the the total kind of um i think mismanagement of capital and obviously inability to kind of manage through a crisis get taken advantage of yeah by the way i think i think the covet the fiscal the federal covet stimulus looks very similar in terms of the the pork and other nonsense that's going on in there makes yeah hey mainstream

SPEAKER_30: media instead of grinding me about what you know a couple hundred million dollars of share sales so that i can allocate it to climate change why don't you do your goddamn job and tell this story yeah no because this would take what a joke don't get your signaling points what's a joke i'll post

SPEAKER_151: the link now david moore i need more red pills what a joke get me those red pills from miami

SPEAKER_153: so there's one there's one article like you're right jamath like they there's so many scandals by

SPEAKER_07: the way there was one just reported in the san francisco chronicle about how the city of san francisco paid 16 million dollars to uh to pay for something like 260 tents or something like that tents for homeless people it was the entire budget of burning man

SPEAKER_30: it was 61 000 per tent you could build an adu for that guys i have an entire gaggle of reporters sweating every single share that i buy or sell and these people no no i don't this is it's stupid and and and there's true there's trillions of dollars just swashing around like what it was all third world banana republic kind of go ahead san francisco is that's all this money all this money all this

SPEAKER_107: money was dished out according to no bid uh contract so so basically there was not a competitive bidding process because it was a coveted emergency and so yeah look i mean all of uh newsom's big backers in the healthcare industry got these giant no-bid contracts these you know the homeless industrial complex service providers in san francisco got these giant contracts none of it was bid out uh and the politicians would love to be able to keep this going because they've never had more power they've never had more degrees of freedom to reward their political supporters so you know i think there was one really good article i just want to bring up here uh that was by jonathan chape oh this is

SPEAKER_27: the uh intelligentsia in the uh new yorker yeah the new york new york magazine so yeah his

SPEAKER_107: article is called zero coveted risk is the wrong standard and he defines a term called zeroism what what chait writes is he describes zeroism as the following he says euroism is an inability to conceive of public health measures in cost benefit terms the pandemic becomes an enemy that must be destroyed at all costs and any compromise could lead to death and is therefore unacceptable so in other words if like one person might die then we need to continue all these emergency measures um it's and and and this is the thing is that look covet as a pandemic is going to be over by june okay but there will always be cases of covet it's going to return as a seasonal illness and the question is are we going to allow zeroism to be the policy every year we basically give these politicians unlimited power to do lockdowns shutdowns no big contracts and on and on and on you already see with the teachers unions right the education unions are refusing to go back to work even after their members are vaccinated yeah saying that there must be 14 days of no meaning zero community spread before they can safely return so the teachers unions or the education users are saying is we're not going to go back to work we want paid vacation until there's zero cases can i just say this is not realistic i mean i i um

SPEAKER_00: i went to get uh my daughter's passport updated at usps they're working while i was driving there i

Chamath Palihapitiya: saw all kinds of infrastructure it was happening we pay into a system that's supposed to guarantee in return some level of commitment by individuals that buy into that same system teachers are part of that yeah you can't you can't have a get out of jail free card whenever you want to just say no we're going to change the rules and it but it applies to everybody else the firefighters have to show up the cops have to show up the ambulance people have to show up the nurses show up you know

SPEAKER_176: the uber drivers bart train conductors everybody's going to work but these people the teachers should

SPEAKER_37: parents should take their kids out of school that's what they should do and then to do what jason how how how are most people basically well if you have parents people work yeah no no but if you got five or six parents together and they don't have time for that jason what are you talking about

SPEAKER_39: let me finish my sentence five or six parents get together and if they had if they had um what do

SPEAKER_97: you call it when you give parents a little bit of money for school uh voucher voucher systems the voucher system would then create the competition if six or seven families could get five ten k each

SPEAKER_188: and then run their own little bubble school their micro school this could actually put pressure

SPEAKER_107: that's not gonna happen well it's not gonna it's not gonna happen but you actually have a pretty good point what what newsom should do is he should go to these unions and say listen if you're not going to go back and you're not going to teach no problem we're going to take the money that we give to your schools and give them out as vouchers and let the parents do what they want in other words we're going to break your union that is what he needs to do it's time to problem with newsom newsom the problem with newsom is that his biggest contributor the single biggest contributor is the education union right and so look he has publicly said that yes i'm in favor of schools reopening but it's not enough for you to espouse the opinion that schools should go back i mean you're the governor you need to go make that happen you need to go tell the teachers unions you must go back right now because there is no incremental covet risk to the teachers they've seen this now that states which have open schools have not seen an increase in covet there is no science to support this he needs to

SPEAKER_07: tell him go back right now or we're going to break your union he will not do that because he's an employee of those unions and by the way i have an update i have an update on the on the recall if you

SPEAKER_50: guys want it no wait let's let's get to it in one second because i do want to i do want to just say um well first off i want to make an observation that we are um turning into the rational rush limbaugh we're all kind of yelling violent agreement it's kind of a little bit silly um but uh i am just observing the tone here a little bit um i will say like if you guys remember we talked about this like last year which is you know what will life be like post covid post the pandemic and if you guys remember i said this and i still firmly believe it and i think we're now seeing it play out which is that the fear that gets created by the actual crisis will persist in terms of the subconscious behavior of the population for a long period of time that's what happened after 9 11. you know the insanity that went on with the tsa and security checking and racism against brown people and everything that arose post 9 11 persisted for a very long time as a result of the shock that we all experienced and i don't think people were very cognizant of it occurring it was just like oh well this is now the normal way of life everyone is so fearful of catching covid and they've been so kind of trained and told that they're going to die from covid that we're finding ourselves in a circumstance where anything can then be rationalized and those are folks that then have power and the ability can magnify the circumstances into something that it seems kind of shocking and absurd if you put on kind of a rational hat but this is just one manifestation of what i think will be the case we were um we we all know people that have been vaccinated that are more than two weeks since their second shot of vaccination who are still scared of doing things like being around other people or going into grocery stores because quote unquote there may be a chance that there may be a variant that may not work on the vaccine that i may get that may end up killing me and if you actually do the math on it you think about it rationally you're not going to get covid and you're not going to die but there's a chance therefore i'm going to change my behavior and that's part of what i think we're seeing manifest at a very large scale is this like trained fear mind that we all have at this point um and policy and everything and by the yeah by the way the 1.9 trillion stimulus is is in part kind of empowered

SPEAKER_153: by this fear well that we all i i i i disagree slightly so look is there going to be some ptsd from

SPEAKER_58: covid yeah i'm sure there will be but i think people are ready to to get out and um with a vengeance and i think people want and and the problem is not that people are are afraid but that

SPEAKER_107: the people doing the health establishment doing the messaging is not out there telling us the right things i mean you've got fauci out there telling people that even after they're vaccinated they

SPEAKER_07: cannot take off their mass until 2022 that they're not gonna be able to die no seriously they're not gonna be able to dine indoors they can't go to a movie a concert or a sporting event and they can't socialize indoors except with other also vaccinated people this is what fauci is saying i mean so no wonder you've got so many people out there saying that they're going to wait and see whether the vaccine works or not well because effectively fauci and the health establishment they're being so cautious in their guidance they're effectively giving anti-vax messaging they're basically saying that the vaccines don't work very well which is just stupid i mean i mean they should be going out

SPEAKER_97: saying nobody has died who has been gotten a shot nobody has gone to the icu who's gotten vaccinated

SPEAKER_100: nobody's been on a ventilator who's been vaccinated am i correct with those three statements yes yes they

SPEAKER_202: need to say if you know that's no icu no ventilator if you have the shot what we need to be saying is

SPEAKER_07: very simple which is if you've been vaccinated you will not die if you've been vaccinated you will not die put that on a billboard and everyone's going to want to get vaccinated you know only 55

SPEAKER_107: of the population right now uh says that they're going to get vaccinated as soon as they can i'm

David Friedberg: ordering a billboard right now from the besties i think that just says if you're vaccinated you won't

SPEAKER_00: die the besties i think it's pretty reasonable that individuals would still be afraid you know because i think we learned over the last year that we can't trust the institutions that are supposed to tell us in an objective way meaning you can't trust the who you can't trust nih you can't trust the cdc you can't necessarily trust the surgeon general you couldn't trust the president very complicated right so i think it's reasonable that people are skeptical what i think is unreasonable is when you know sort of like organized um unions or organizations or corporations who have a responsibility to run the infrastructure of this country basically say um it all these rules apply to everybody else but me um that's where i think uh we have to really just kind of question ourselves and fix that that's not cool it's just fundamentally not reasonable

SPEAKER_117: so we have biden saying that everyone who wants a vaccine will be able to get one by the end of may

SPEAKER_58: we have gavin newsom saying that most of the state but not all of it will reopen in august well wait a

SPEAKER_107: second you know may june july august why is there like a three-month gap here it's because of of of the zeroism i mean i think newsom has embraced the zeroism if not zeroism what's the

SPEAKER_81: number we have 8 000 people die a day in america uh on average historically as soon as everyone if

SPEAKER_202: it's under 500 deaths a day should we be going back that's not even the question that's not even the

SPEAKER_07: question once everyone can get a vaccine it's over if you choose not to get the vaccine like sorry yes it's on you we're moving on it's like dude we're done can i ask a question

SPEAKER_50: by the way the equivalent of zeroism would be no one's allowed to drive a car because people die

SPEAKER_214: dying cars all the time cars have to be 35 miles an hour or they or you or yeah or no one's allowed

SPEAKER_50: to drink alcohol because alcohol has some adverse effect or increases chance of of cancer or or whatever or whatever at some point like do you end up you just triggered chamoff yeah sorry no wine

SPEAKER_56: nice bordeaux and burgundy doesn't give you cancer what's going on with the wine budget post

SPEAKER_218: i mean it's going to take a lot of it's going to take a lot of more billions before i stop drinking

SPEAKER_00: my wine um question um i want to throw this into the scrum um what do you guys think about uh i by the way i mean also we're all just so punchy because we didn't talk last week totally now we're all so

SPEAKER_222: agitated a little excited none of us have gotten to talk all of our wives have been telling us what to do we had nobody to vent with and now we're just going crazy it's like a bunch of 12 year old boys

SPEAKER_45: who are on timeout it's like it's like it's like we've been in a two-week time we need to get our bikes and go for a bike ride no no guys honestly honestly like have you guys like i have not gotten a word in edgewise with matt for two weeks and i was so looking forward to talking to you guys so i'm

SPEAKER_226: like i want to talk um no but listen uh no guys what do you guys think about the uh the the

SPEAKER_00: biological patriot act thing you know there's these vaccination passports that people are talking about i just want to get a sense of where you guys think this is going and and this is this is

SPEAKER_50: the slippery slope that i think ends all slippery slopes with respect to privacy right so i think it was proposed in the eu that you would need to get a you know a digitally verified kind of passport stamp that shows that you have been vaccinated in order to travel freely amongst other eu nations and so if you think about the implications of this now the government or governments have the ability to demand that in order for you to move around freely you need to represent something digitally or represent something about some healthcare procedure that you may or may not want to kind of uh you know take on so that sound everyone kind of nods their head and says that seems totally reasonable and rational it's covid we're all at risk we should protect ourselves i want yada yada but where does this go next right because then it becomes well have you had your measles vaccine or you know hey you know do you have um herpes and therefore you can't you have to show someone your herpes passport if you want to have sex with them or you know end up kind of going to a point where we we really don't have a barrier between what's private and what's nationalized um or even super nationalized in the in the context of the eu um and you know is there kind of a slippery slope that emerges by allowing this amount of invasiveness of personal decision making and personal data and making it available to government agencies in order to have access to the liberties that you you know believe may be endowed to you as an individual citizen of the world or what do you do

SPEAKER_58: what do we do well i i just think proposals like this are i think they're going to fade away very quickly once covet is over and and the the real issue we have right now is that not enough the

SPEAKER_135: population wants to get vaccinated because again the health authorities are being much too conservative

SPEAKER_107: in their guidance so you know there's some polling numbers on this that so only 15 of the public are actually opposed to getting the vaccine like you kind of call them anti-vax but there's another 20 to 30 percent that are taking this wait-and-see approach and you know they're going to make sure that like other people go first and don't sprout tails or antlers or something before you know they're going to be willing to get it but but the reason why they're all waiting and seeing is because you've got you know fauci and others saying that we're not going to have normalcy until christmas or maybe even 2022 so if if that's the case if things aren't going to be normal until next year why wouldn't you wait you know and i think what we need to be saying is look go get the vaccine where everyone who wants us can be able to get it in the next two months and covet is over it's over guys

SPEAKER_50: but sax if there is a digital passport requirement in the eu where do you think that goes like if you have to show proof of a vaccination order to enter the eu without quarantine

SPEAKER_237: where does this go yeah it's it's it's it's it's not a great precedent but i but i i don't know that

SPEAKER_107: it's going to be necessary because i just think that covet's going to end there is a so so quickly

SPEAKER_81: it's it's a this i like sax's point of view which is if you decide you're not going to do this then you've put yourself at risk but if nobody else can die from it why do we need to check it i understand like maybe in this bridge period spring to summer if you go to a warriors game or a knicks game where you want to go to burning man or the edc you know electronic daisy carnival whatever uh freeberg goes to you know uh when he goes to his raves i mean freeberg out of rave is kind of the

SPEAKER_97: video we need to see i think but why would that's fine with me in the short term but in the long term i don't want to give them that power look what happened with the patriot act and then them monitoring our data forever and the government being able to put you know what snowden found out

SPEAKER_128: like they were able to put on the att backbone the ability to sniff all data i mean it's overreaching

SPEAKER_45: last january uh or february i think jason it was one of our first pods where

SPEAKER_62: i kind of put this marker out there on this biological patriarch and i said it's coming i'm going to put another marker out there um by the way because like you know there may be something like this in new york i think most cities will have to have them i think places jason

Chamath Palihapitiya: exactly as you say for sporting events for concerts it'll be very hard um as a number of strains increase as the severity ebbs and flows over time for us to not end up in this place and i think it will be because certain people will feel a paternalistic um desire to sort of you know it'll

SPEAKER_62: come from a good place like i want to help everybody but they'll pass a law and that law will just get perturbed and and it'll create all kinds of crazy consequences but i want to put another shit out there which is you know there was a really important civil rights case called masterpiece cake shop

SPEAKER_00: versus colorado uh civil rights commission he went to the supreme court and it was basically a a guy who owned um a bakery and he refused i think it was to make a cake for a same-sex couple um and ultimately you know the decision was yeah he's allowed the supreme court gave a very narrow ruling that he was allowed to withhold service and i asked this question which is well what is the difference frankly between withholding service from a same-sex couple or withholding service from somebody that isn't vaccinated um because you know in the eyes of the business person you know assuming apparently you're allowed to make these kinds of you know judgments uh because you're a private business the implications i think are really vast um and so i'm just going to put it out there that i think that uh it's actually david i'll take the other side so i think that there's going to be these biological patriot acts unfortunately and then the second thing that i'll say is that i do think that it will get litigated to the supreme court and i think that narrowly what will come down is that businesses will be able to decide and i think this is actually what will put the vaccination or anti-vaccination movement to the forefront because i think in this complex global world where we don't know where diseases come from except we know that they are more communicable they can be more deadly and they're more pervasive and they spread faster just because of the nature in which the world is set up there's gonna there's probably going to be less and less tolerance for

Chamath Palihapitiya: anti-vaccination now that may slow down the actual process of getting vaccines to market

SPEAKER_00: um because we'll want to make it even safer if we're going to do forced vaccinations of certain things but i'm just going to put a put a cheat out there that i think that that's well i don't know

SPEAKER_58: that we need to force people to get vaccinated but i think that we need to recognize that once people have the option of getting vaccinated there's no need to have the same public policy response right so so look if biden's correct that we're gonna have 300 million doses by end of may and i think

SPEAKER_135: he must be correct because he's been very conservative in his guidance then we should declare a date certain for the end of covet i'm not saying that the virus won't exist

SPEAKER_107: i'm not saying there won't be a smattering of cases i'm saying from a public policy perspective

SPEAKER_135: there's no longer a panic a raging pandemic to justify these incredible new powers that the government has asserted i mean what would you do that based on the number of shots in arms or the

SPEAKER_107: number of deaths per day no it's look once once everyone can get the vaccine and then i think that'll be available availability so i mean look what we should and it will be available as long as you know governors like newsom get out of the way and stop restricting the administration of it but i think we need to declare a date certain where we say listen on june 1st there is no more justification for government having these extraordinary powers to lock us down to require us i don't think we even need to wear masks beyond june 1st and by the way i was pro mass i was in

SPEAKER_135: favor of a mass mandate a year ago as you guys know but there's no need for it after june 1st there's no need to have these um crazy certainly not if you're back freeberg like i mean you wouldn't

SPEAKER_73: matter i i it doesn't matter i i just um you know i think it's uh it's a good point that sacks is making it's easy for people to say let's wear a mask and protect ourselves but if you don't care about wearing a mask but there are plenty of people who do and i think the question is at what point do we allow liberty to kind of play a role here and it's it's not just about you know what one person's point of view which by the way turned out to be wrong multiple times over the last year um is uh in terms of what they think that other people should do and you know what what is what does it mean to actually have freedom of choice and liberty um i mean it's a really it's a really fundamental

SPEAKER_81: question yeah well i mean if you look at states that that is a key we have texas has opened up and said no mask mandate one of the things that hurt us in this was we didn't have a centralized government dictating everything and now we see like hey maybe okay so states by the way by the

SPEAKER_50: way i don't know if that's necessarily true i'll say something about this that i think is important it may be true that masks stop community spread of the virus but it doesn't necessarily mean that we stop the spread of the virus the virus still spread we still had a lot of viral cases in the united states we had a lot of deaths that arose and whatever restrictions we put in place people still made the choice to go into other people's homes take their mask off enjoy free air enjoy

SPEAKER_73: drinks and give each other the virus and that's where so much of the spread occurred i think you

SPEAKER_00: guys are not confronting this really obvious thing i think like this masterpiece cake shop thing is a really important concept like what happens i'm just going to use an extreme example if it goes to the supreme court you mean no let's just say that you know google's engineers unionize and they decide that you know they want everybody else at google to be vaccinated and then google says yeah you're right if you want to work at google you need to be vaccinated

SPEAKER_255: not just private company private company not just for covet it's a private company by the way that

SPEAKER_50: is a rule at schools right i mean i think my my uh my preschool where my kid goes here in san

SPEAKER_123: francisco requires that's proof of vaccination for the kids in order for traveling seems to be

SPEAKER_100: different and see traveling in some places is on wait just public infrastructure some on private

SPEAKER_00: infrastructure i know but just just focus on this issue what happens if private organizations pass a decision yeah that you have to be vaccinated it'll go to the supreme court and if

Chamath Palihapitiya: you look at masterpiece they they'll win they will be they will come out with the right to say

SPEAKER_258: that which is fine you can go work somewhere else why is that why is that a problem exactly yeah i'm

SPEAKER_218: just curious i'm just curious if only half the population of america well maybe they'll lose

SPEAKER_50: good engineers and the free market will resolve itself where google end up saying you know what we're not going to pass this mandate because all the good engineers are going to leave so let's

SPEAKER_161: just leave it you know leave it be um i'm i'm i'm more worried about the politicians the government

SPEAKER_135: to hold the government trying to hold on to the power yeah that it's asserted over us over the past year even after covet so that's my concern i don't want them having a database of my medical records no right and so this is why look i think we need to declare a date servant certain that covet as

SPEAKER_107: a pandemic is over my date is memorial day it's very clear to me that once everyone has the vaccine it's over just look i think this is up this is when yeah this is what so i actually think that the newsom recall which will be in will be going on this summer uh this is what that election is going to turn into in my opinion is so so by the way quick can i give a quick update on yes please okay so i talked to the recall uh people this morning they're up to 1.95 million signatures he's done so 50 000 votes short of 2 million they will be at or over 2 million in two weeks which is the end of the signature period their validation rate is about 84 so i think this is clearly going to pass there will be a recall election it will be around august now fast forward newsom has said the state won't reopen until august but i think that by may june july you will see just about every other state reopen obviously texas already completely reopened but even blue states like connecticut have now lifted lockdowns they still have a mass mandate for the time being but i think what you could see by this summer is that california will look like a laggard you will see that politicians like newsom are holding on to this zeroist philosophy they're being too restrictive they look ridiculous compared to other states and he still probably won't have an agreement with the teachers unions to go back to school and i think this

SPEAKER_267: could become the big issue in the in the you want to make an announcement sax you want to make an

SPEAKER_269: announcement now we have a special announcement you know tamad might be taking a hiatus from work

SPEAKER_69: given where the markets are at i thought you know i thought this governor thing would be value destructive it looks like actually i would have saved money you should have divested okay i'm back i'm

SPEAKER_275: doing it i'm doing it i'm doing it i'm doing it again i'm back in i'm back in positions

SPEAKER_279: oh my god to be cynical but if you i am losing so much money down wow in your state sacks they

SPEAKER_39: can't collect signatures at the supermarket or at restaurants or disneyland so maybe maybe newsom

SPEAKER_107: shut everything down so that you know well it's interesting because they actually found that direct mail was a very effective way of getting signatures so they've gotten around that but so gavin newsom

SPEAKER_285: is cutting the budget of the u.s postal service no look newsom is definitely there's going to be a

SPEAKER_58: recall election i think it'll be around august and now there's uh recall efforts underway for uh

SPEAKER_07: chase of budine the killer da the killer da of san francisco oh as well as gasco in la and the san francisco school board but we've got to talk you know we got to talk about how budine responded

SPEAKER_62: to our last pod right oh my lord david i i have three comments to say before we talk about booty number one i've never seen you more energetic did you get yeah where are you the right man did you

SPEAKER_271: did you get to miami did you download a fourth emotion did you download a fourth emotion he's in

SPEAKER_295: palm beach he's been at the massage parlor every morning oh it's just feeling energized you're right

SPEAKER_296: it's like a build up over the last two weeks it's like a you know uh yeah big release too much too much

SPEAKER_218: uh too much energy i mean how how how little have you spoken in the last two weeks has jacqueline spoken the entire two weeks i know what that feels like you're right you're right i need

SPEAKER_301: uh i need the bestie therapy i didn't realize i needed this absolutely bestie therapy so does the

SPEAKER_304: audience jake galfreyberg you guys you don't know this but saxie and i called each other on friday and

SPEAKER_298: we spoke for half an hour and like it was a podcast we were so lonely he did he actually

SPEAKER_304: conference called all four of us i picked up and we spoke for half an hour it felt like a mini pod it

SPEAKER_106: was so wonderful oh my god oh my god you know what men are too proud to uh men are too proud to go to

SPEAKER_57: therapy so they start i was telling a friend of mine i was i was telling i was telling a friend like this podcast was kind of one of the surprising joys of my life over the last year it really felt like a

SPEAKER_311: great kind of wait a second you got the joy oh i had your joy we did you downloaded joy yeah i

SPEAKER_312: acknowledge joy now okay he's there but it's smiling wow it's incredible okay sax go tell us

SPEAKER_58: about booty yeah okay so uh yeah let me find the the tweet so basically you know remember on the last

SPEAKER_07: pod two weeks ago we chaser was supposed to be on our pod he canceled and so then in response to that jason hold the chicken noises for a couple of minutes here hold on so uh i responded to chase us saying listen you don't have to come on our pod but i'll challenge you to debate let's do a debate whatever format you want and we posted it on on twitter so he didn't respond but it by the way it

SPEAKER_107: got like 180 000 views so a lot of people watched the challenge and so but the crazy thing is instead

SPEAKER_07: of responding directly chase i had a high school friend and campaign worker post a blog responding to me which and jason got mentioned too but it was crazy it was like why won't you just respond directly anyway he had this this uh shill respond and what he basically said was uh in this response was he cited all these charging statistics and he tried to claim that chaser has charged just as many cases

SPEAKER_107: as the previous da the problem with that is charging doesn't really mean anything because you can charge someone and then plead the charges down from a felony to a misdemeanor it doesn't mean that the person was actually punished it doesn't mean that you locked anybody up it doesn't mean that you actually got a conviction to a serious crime or protected the public from anything the real question is not chargings but dispositions of cases and that's the real that's the data that we need and i know

SPEAKER_07: there's a bunch of reporters who are trying to get that data and chase's office won't give it to him and so you know i would i would challenge this um this little uh chase a volunteer you know go find out

SPEAKER_107: you know what what is the real data on you know how many felony charges have been pleaded down to misdemeanors right how many felonies have actually been prosecuted how many felony convictions well

SPEAKER_81: it's interesting you bring this up it's interesting you bring this up if you do a search for gofundme chesa budin the number one result should be the the um the gofundme page i started it now has 455 donors and 54 000 in funding and so i am withdrawing the 54 000 and i have a meeting with the woman from the marina times who's done great coverage of this and i'm also looking for some data scientists and i'm going to give the money minus some insurance for when chesa sues me and some errors and omissions insurance and i'm going to be giving the 50 000 to a journalist or a data scientist or they can spend it however they want to to attack this very issue which is just put more sunlight on it and so chesa budin is not happy with me he's not happy with sacks uh but we are going to put the spotlight on him and it will be through journalism and it will be through constant pressure and you can help

SPEAKER_26: if you want to donate a hundred dollars go just donate it to that i'm not taking any money obviously

SPEAKER_62: this is a really interesting civics experiment i think for the rest of the country and i i want to say that i i don't know enough of these details i go up to san francisco every now and then i don't i've not liked what i've seen scary it's scary um and it's great that you guys are standing up for your city the the thing is i wonder how much of these recall movements now will pick up steam not just here but wherever else they're allowable all around the country i mean you know the san francisco board of education spent all this time and money you know basically naval gazing on the

Chamath Palihapitiya: renaming of schools and then finally just because they were just so utterly embarrassed basically had to bag that could you imagine that in the most technically advanced and most progressive city in the world basically with the kinds of companies and people that we have here that that's what people were thinking about during the middle of a pandemic when children were at home okay uh you have this da who's going to get basically recalled in los angeles you have a da that's going to get recalled in california you have an entire you know governor of the state that's going to get recalled so what are we learning we're learning that people can actually small numbers of people can be extremely

SPEAKER_39: effective at getting change done and that they represent us and that the distance between what the public clearly wants and what some of these bought and paid for radically insane people both on the left and the right that needs to stop and if people are you know going to not listen to their constituents

SPEAKER_320: we need to stop them people want people want centrism they want simple center 100 reason people want

SPEAKER_50: reason yeah the silliness is that the san francisco board of uh education people are elected when have any of you or any of the people that i know in san francisco ever actually looked up who's the person on the board of education it's not really a topic that people have paid much attention to and i think that this experience when you don't pay attention from a civic perspective on who your elected officials are and taking action in electing them you wake up when a crisis like this occurs and you're like oh maybe i should pay attention the next time there's an election and maybe i should be more active and be more thoughtful or maybe we should end up in a situation where you allow the mayor or the board of supervisors to appoint the board and have an approval process where there's a little bit more kind of not just anyone that wants to get elected puts themselves on the ballot gets elected no one really pays attention to who's getting elected and then you wake up to this crisis

Chamath Palihapitiya: isn't it true that like in the board of education there was this the whole thing came to a head because they were trying to like staff a committee again to waste time on some bullshit yeah some guy some guy raised his hand and you know he happened to be this you know gay person uh in a mixed cultural marriage i think and he wanted to be a part of this committee and he had been kind of like a really good thoughtful participant and they said no because he wasn't

SPEAKER_58: diverse enough or something yes that's exactly that's exactly what happened there was a school board meeting it started at 4 p.m okay 4 p.m and this was the first issue they discussed is whether

SPEAKER_135: the like you said this this gay white man was diverse enough to be on a committee it was a committee

SPEAKER_107: where he was volunteering his time time his good time everybody thought that he'd be additive i mean you know everybody liked him but they spent several hours debating whether they should put him on for diversity reasons because he wasn't he wasn't woke enough right exactly then they spent their time talking about renaming schools and taking abraham lincoln's names off schools and even renaming schools they didn't even know why certain names were what they got the people wrong they got the people wrong and then basically they didn't even get to the issue of school reopening until midnight so eight hours later and then everyone basically had gone to bed and the meeting ended i mean literally this is what happened and so the the parents it's like an else kid it's like insane it's it's insane and so you know the parents are up in arms and this is triggering a recall movement because the parents just want the schools reopened and you keep getting these um responses from the school board where where they keep saying oh we're listening to your concerns or whatever they keep trying to process them but they're not doing anything about it you know and then and then they say well in order for us to reopen we need to establish our testing infrastructure and we're putting an rfp out for

SPEAKER_135: that and blah blah blah and it's like what are you talking about private schools have reopened just

SPEAKER_62: reopen you know just reopen what do you guys think about um joe biden's first sort of 60 days in office

SPEAKER_81: executing at a high level with the vaccine i mean opening up all those fema sites and getting to 2 million shots a day on average is undeniably great the fact that he used the war powers act to force merc and to to do the uh j johnson and johnson uh and to work with johnson johnson to increase production undeniable um i'm not ha and i'm not happy about you know um the teachers and him kowtowing to the teachers and i'm not happy about just the hint that he wants to start the war machine up again so

SPEAKER_135: you know yeah bombing syria who wants who here wants to bomb syria it's like a right i don't want to i

SPEAKER_333: don't want anybody anymore where where where the is syria does anybody know i mean why what what what what are we doing i mean if our policy is the key issues for me there's the teachers and the bombings

Chamath Palihapitiya: i don't want that i i'd say i i give him an eight out of ten uh jason because i think the pandemic has been so well handled by him and science and that team i think they've done a very good job but those two things those two things are huge black marks for me like he and and bloomberg ripped him one you know and mike bloomberg was on tv and he was just like that is a joke the teachers unions are jokes and you need to basically tear these people to the ground you have to they and you cannot allow these folks to hold an entire generation of kids hostage okay and then the day i think it was the same day or the day after unfortunately biden kind of capitulated to the teachers union not cool

SPEAKER_45: and then this the bombing of syria was kind of like why um let's use sack sanctions let's use money i

SPEAKER_81: mean the the legacy of trump i think not starting wars was the one thing and then him you know just backing up the brings truck for the light speed those are the two best things he did and those are two things that we should say you know what he got those things right let's carry those forward we have to crack the teachers unions uh the teachers union the voucher system is the only way to do

SPEAKER_97: it and it's very reasonable to say parents who are paying shit tons of taxes should be able to take that money and educate their kids however they damn please and if we're going to spend 15 20 000 per student on public education as a parent whether you're in brooklyn or boise idaho you should have access that 15k and you should pick where it goes and you should take control of it that's the way to

SPEAKER_172: stop this meshugana jacal i had the i had the this crazy realization as you as you were saying this

Chamath Palihapitiya: which is like if you said if i said to you you know electricians union i would say thumbs up auto workers union thumbs up seiu generally thumbs up um nurses unions thumbs up but if i say teachers unions i just have this incredibly negative connotation now of an incredibly political class of people who are going completely out of their way to basically just like have exceptions and asterisks is that apply to them and them only it's i don't know am i the only one that feels that way it just seems like it's trending to where like teachers almost becoming a four-letter word yeah i don't think they care about teachers yeah they don't care about students but unions in general do a very important job or the students yeah but i think unions in general do a really important job and i think that you know like all these other unions i have a very positive thought about what they're meant to be

SPEAKER_244: you can be pro-union or pro-organized labor but be against this specific union that's what i'm just

SPEAKER_39: like you can be uh pro-reforming criminal justice and the unfairness of it while still being against chesa budin's insanity that people should be able to be murdered and killed and beaten in the streets with impunity well like this is yeah these this is not an even this is a completely logical position to have i want to not put people in jail for cannabis sales and i want to remove people from non-vi for non-violent offenders from the the incarceration you can believe that while believing

SPEAKER_97: you should incarcerate somebody who murders somebody this is not a hard logic to understand right totally

SPEAKER_58: no you're right i mean the the the it's it's a combination of ideology and special interests

SPEAKER_89: um working against common sense and what the average citizen wants you know right and did you see you

SPEAKER_97: see what happened republican or it's not republican or democrat david you and i agree on this and

SPEAKER_107: yeah of course we just want we just want common sense government that functions for uh the people as opposed to special interests or these radical ideologies i want to have a couple of pops at the

SPEAKER_97: battery and go walk to another bar without having to fear that somebody's going to stab me for my

SPEAKER_23: goddamn iphone you know or or some poor kid's going to get attacked by somebody deranged out of their

SPEAKER_135: mind on fentanyl look this is why news is going to get recalled is because crime and education are just fundamental issues we do not feel safe in our cities crime is out of control and we're going crazy that we can't send our kids to schools these are issues that affect cities and suburbs everyone's on the same page and i think you're right that the teachers unions have overplayed their hand

SPEAKER_107: and expose themselves as not caring about the kids just looking out for their own benefits they want to be on paid vacation forever effectively and do you see there was a great um example where in oakley

SPEAKER_07: which is a town in the east bay the whole uh they were caught on uh recorded on the hot mic yeah the hot there's a hot mic where the entire school board was forced to resign because they got caught mocking parents for for quote wanting their babysitters back so they could smoke pot i mean the cynicism here is unbelievable i mean these these people are supposed to care about teaching young people and they and they view themselves as just babysitters yeah you know and they view parents as stoners yeah i mean we we got to shake up this system and and the problem is competition

SPEAKER_107: we need competition and look the problem is that that the people that when you have unions running the schools there's no reward for excellence the bad the bad people don't get fired and the good people don't get rewarded so they you know if you're pro if you're anti-competition

SPEAKER_97: you are a moron everything in this world gets better when people compete on the playing field in the arena to build better products and services and in health care and in education and in housing the government and dare i say it the far left is stopping people from competing we should look at ourselves as customers and that's what's happening right now people are saying we're the customer gavin newsom and chesa boot we don't want that product that product get the get the hell out of here with that product and give us something reasonable no person who's republican no person who's democratic doesn't want safety and doesn't want competition education the only people who don't who

SPEAKER_81: want to stop competition education are special interests period amen man you've been sorry these red pills

SPEAKER_363: are great man these red pills wow these peter teal red pills are

SPEAKER_365: god man i thought adderall was good but god these miami keith reboy peter teal stanford red pills got me

SPEAKER_40: lit i'm ready to go all right anybody give a about nfts non-fungible tokens i mean i think it's kind of

SPEAKER_120: brilliant but uh by the way don't we only have two minutes two minutes and if i think we should wrap i

SPEAKER_372: think we should wrap on the red pills i mean that you can't beat that that was can't beat some red

SPEAKER_373: pills that was hot when are we going to see each other i i can't take it anymore i'm like a caged animal i need to get out of here i need to get on one of your planes i'm doing a free bird where's your

SPEAKER_62: plan get me i'm doing a home and away poker game on wednesday and thursday wednesday in la thursday up here but it's 500 and a thousand jason oh yeah oh and you got to play both days you got to play

SPEAKER_326: both days so you can't play one or the other you got to play both days oh boy tamath is trying to

SPEAKER_380: make his billions back i don't know if i want to be in a 501 1k game no i'm gonna go past that any

SPEAKER_57: different than the normal game i mean like in fact in fact i just you know you can't limp in which

SPEAKER_27: races they just you're gonna get demolished get four callers that yeah yeah rick solomon will

SPEAKER_69: jump the fence with the seven eight and bust and laugh and laugh and you gotta edit all this out

SPEAKER_37: no you don't the matcha king of malibu the malibu matcha king exactly malibu tell him i'll take a match with extra all right everybody for the queen of quinoa for rain man david sacks and for

SPEAKER_106: the demolished dictator who will rebuild i believe in you you can rebuild it you can rebuild that chip

SPEAKER_389: in a chair come on let's get back in the game chip in a chair give us another ipo gh whatever let's

SPEAKER_37: go everybody and we'll see you next time love you guys thanks to our sponsors bye guys that don't

SPEAKER_395: exist back at you back at you back at you ditto i love you besties rain man david sacks

SPEAKER_12: you've been sources to the