E45: Theranos & VC fraud risks, China bans video games, Texas SB8, Apple app store, CA fires, Rogan
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On the day I .

get sex .

and one guys.

I guess sex isn't, I get sex is blown IT .

OK three.

two rainman .

give.

We sources to the fans .

and got this.

Hey, everybody, everybody, welcome to the oil in podcast with us today, the queen of kwai on fire in california, which is also happy to be on fire. Sadly, h and the dictator champ polio atia a David sax will not be joining us today. He's too busy with his calling all in APP h i'm sorry it's actually call in and he put a in front of IT. It's Allen Allen Allen is calling apps, which is debo this week. But sex will be if you're sex stand I think .

sex is now we've done .

one show without freedom. Never doing .

eod alde here. I'm here. I'm here. good.

All too eager to take credit .

for call in on twitter. So don't pretend like you're not part of this.

Call me up. I hope Colin is .

worth a truly house.

Yes, I can't believe that this guy is complained that .

in the part style licensing of the term all to x and gotten paid like seven million dollars and equity for him using our name.

And I gave you guys so many shot out in the know he did because .

I listen to his a interview with the Emily chain and I listen to his thing with um x IOS with that premark and his very David had a very good and he was magana ous presentation and then he was really magana ous in times so thanks sexy .

and I and I I was IT to JK A I said that if he wasn't for J A D, the pocatello IT was too hard and never fired IT.

And you gave me a shout out because like of organizing IT so that we could all be friends. And I like read very .

nice and I actually haven't listen to IT, but give us a for those who don't know, David sax has created a podcast and slashed casual audio APP. It's called call in is available for download for IOS just coming out of private beta. My understanding is you're at somewhere around ten thousand folks.

Yeah I mean, there is a lot of sign yesterday. I haven't got all the latest numbers yet. But but yeah, no, it's you know it's taking off.

The all the reviews of IT have been sort of very reviews, people really excited about IT. But yet look, the concept is we're combining social audio with podcasting. We called social podcasting.

You've seen these apps where people create a room and they have these many to many conversations. They tend to be a femoral. No one really records or saves them.

And the quality of the conversation is a little bit chaotic, but we've taken that concept and put IT in the service of creators. You can now essentially like record their part of form of life to the audience. They can bring up the um we call callers.

They can bring up people from the audience one by one to answer questions. It's much more organized and structured, some of free for all to trying grab the mike. And then once you record the episode, you can then going to post production in the APP can edit the transcript in order to edit the episode and that you publishing.

you can share IT. So is IT like so basically like only fans, but .

it's only fans. But .

for people .

who do the .

end family .

come.

Going to is my birthday today.

Got right.

Happy birthday to ths.

We're gonna the horn here. Everybody's padding themselves on the back. Uh, let's all take a moment to say what we like about.

Okay, great. Let's get back. And so I was quick.

What are you? You know, I was thinking about, what birthday? President, do I get virtual? Th, and then I was like, g, what do you get for the dictator who has everything I don't?

What is keep .

your GLE me.

What did they get?

Mbs, for his birthday?

我是 要 tell you no.

actually there's actually .

answer that question. Apparently metal and all bright one, Scott king jang won a basketball signed by Michael Jordan for his birthday. So appeared tly that yeah, apparently that's what you get a dictator access.

You get them access to people they would Normally have, or a ba.

a very, very, very old, a french bergan deam White, but the White doesn't hold up as well. But you know, if you go back IT, I mean, I wonder if you could drink like a yesterday I had the the two pills dodge and muth at my house, and we had a, we drank nineteen ninety six salon for the mission, no, sorry, one thousand and ninety seven salon prodigy in. And then we drank a bottle of nineteen ninety six polo J R. Winston .

churchill champagne, fabulous.

Only champagne .

is is fabulous.

We get you to come and play poker next thursday, you focus. And then I was just bring a bottles of, uh, bring a really nice bottle of wine or champagne will drink IT.

Oh my god, I got cases of terrible one.

I'm going to be no. You ask, did you hear what this is? My school showed up last year and it's like to make here these fantastic bottles. And I looked at, this is like nineteen eighty five camers.

And i'm like, that's not a good, but IT gets .

Better and is Better. He has two bottles, and so he gives them to Joshua. And Joshua looks at a dos and and so just like, wow, David, thanks freeburg. This is incredible. I appreciate.

And then freeburg does the fuck. And most brutal thing.

I T IT.

Let's just no, he said, where did you to find this is? Oh, IT was in my basement in the hot tempered human co, either for ten years I had.

no, I moved, you know, I moved like two weeks ago and I went to the basement, like, get all my boxes and I like, i've got like hundreds of bottle of wine that I have not seen in years. And I not temporary control the first as they weren't line flat. Like these .

are like they're and pour them the.

we.

Anymore oh, I have to say about that .

game is tangoed.

mr. Bee has a hundred million followers on youtube. Rest R, I, P, mr. beast. This just .

want to say mr. B is fucked in incredible, an an entrepreneur, human being, three years old to be that sophists twenty. This guy, I thought, guy, this guy is clearly on track to be an formal figure in culture, is a multi .

determined, hard working, smart, hard.

good cious ambition .

is great. And his ideas, he's creative, and he just a good human.

The most impressive people i've met in a really.

really, really long.

I mean, he and I had been texting for a long time on witter and on and then just on text, but then to finally meet him in, and we had talked on the phone, and we assume before i'd never met in prison.

But what an incredible. What do we have made the best.

best.

Fly to a to Greens and surprise him a .

little game. Here's an idea no we could do is we could tweet, fill, help youth and just have a game and replace film in the game with him as our new bassy. My gos replace .

like a Better.

best thing in many ways. The way are we skipping next week to .

record at symphony monday or going to do next and then also do monday?

No doubt .

that I like .

good notification.

We're doing our first altogether recording of the all in pod a week for monday at the T P. B. symposium. No reason to production board. I'm excited because .

there is a close event. What is the Price of event?

I just get together a bunch of scientists, investors, entrepreneurs and CEO. And um it's it's a day of science talks mostly and then some business talks on next day. But we're having a really fun of that the night before with poker. Our so but the .

poker nights gona have poker and and we're .

gna record the all in pod live or or together in person for the first first time yeah .

that should be really cool. Um and for those of you wondering, you know, we're going to do our own all in summit, which will be probably like a hundred or two hundred icon clastic people um and we're going to probably do that in the first quote of the second quarter of next year .

post we got choose a date. My people are crazy because you won't give a date.

Well you I think .

we should do IT and um here we go in rome. Okay.

so what's the enery rome? So what's my amy?

I'm telling you guys.

there are the hotel may be the cause.

the world. And i'll tell you why the people you have never seen.

these people.

the people are amazing, amazing, tremendous people and they they tracks the hottest st people that I mean.

fucking we're not doing a pasta thetis we're doing an ideas to is not just static.

but people are going to go to room. You know, miami, the good thing about miami is we know it'll be open no matter what, right? You know.

we can count and we can host our own super spreader ament. fantastic. no. I mean, where host the the code conference, Carry swisher ous conferences at the end of the month and sky and broken out hosting our poker again. And I was like, is there any way this conference is going to occur? And if IT does occur, what happens if there, I mean, obviously, body is going to be vx, everybody is is going to be mac massed.

I don't know if they can. Do you test said you think everyone should be mass at the conference?

They are going be unless .

as well they're going to be because it's indoors and there's a break out event among gs, the vaccinated, which can happen .

between delta and data to you, uh, you, you're gonna forced.

What do unix? Well, I just think, how do you effectually have a meeting with people and ever indoors, only a mass? I just .

think.

really.

we ready to mask indoors are not doing the dinner and stuff. Look, I mean, I think for poker, but we are testing everyone on entry all three days OK.

That makes sense to me, right? We do a rapid test at the door. And so but then once you've done the test, so was negative.

Why would you need the bus to go in rapid?

The stupid thing is they do stuff like make you the mass, but then take IT off for dinner, like what you you can get coffee when your mouth is full.

I mean, how does that makes no sense? Put your house.

Let's do risk and assessment here.

And then take IT off when you sit down.

breathed away its security theater.

Let's do IT. Let's do risk assessment. None of us would go to an indoor event if IT wasn't full vax, correct. Would anybody attended indoor event of this nature? Hundreds of people, if they didn't have a vx requirement?

I, yes, I don't give IT. I well, I mean that what I would care about is I wouldn't attend IT if people weren't all being .

tested on entrance. okay. Well, i'm trying .

to do the doesn't seem to eliminate transmission.

You to go to an event you would have to be vacant and tested that day morning of rapid test. yeah. Look.

I mean, I think in general, everyone's kind of standard is like make sure that, that reduces the likelihood transmission but still like it's not stopping transmission. Clearly i'd rather what I care more about is is point of um entry testing which doing that our simple I want everyone .

to get test to a proneness ts .

talk about something important OK.

Listen, I think the most interesting thing going on in our industry this week is Elizabeth mes. The trial has begun a jury election h started this week and it's going to cover twelve counts of fraud conspiracy to commit wire fraud d over false claim SHE made about the blood test results from their nose um they uh have now selected a jury of twelve northern california new residents consisting of seven men and five women he took two days to question around one hundred potential jurors about their answers to a twenty eight page questionaire ah that included news outlets they read ah what news outlets are read if they knew any witnesses and have had any negative medical experiencing experiences.

And um IT was complicated um to get these because IT is impossible to not know about IT and now IT seems the uh interesting thing is elisabeth homes who worked on this company for two day close to two decades and was involved in this fraud from start to finish, is now uh taking the position that SHE uh was under the control of her business partner Sunny bowani uh and that he uh had been abusing her and controlling her uh what are your thoughts on? And so he's being tried separately. By the way, there's going be tried in sequential waters whenever this trial ends, then he gets to get tried. What do you thoughts on if he will be convicted? And her defense strategy.

I think this is more this is like less about a specific evidence against her as much as it's um and it's much more right now about the um whole silicon valley. Take IT before you make IT um approach to entrepreneurship.

And you know we all hear this from um you know all the entrepreneur kind of advisors and you know is stories of experience and stories of success that in order to kind of achieve success as an entrepreneur, you really have to oversell and promise and create incredible narrative about where your business is headed and in many cases that gets ahead of you. Now the public the general public that doesn't Operate within silicon valley with as much breath as we do. I think they hear the stories of the adam newmans and we work in the collapse and Elizabeth homes and the trevor milton guy and and nicola. But um there's a thousands of these other sorts of smaller stories where A V C roles is eyes, where the first board meeting after raising money is like wait is like we're actually gonna half our forecasts when we raise money or the numbers are going to be way below or the product doesn't actually work as we presented IT.

I don't think i've ever funded a company where that hasn't been the case exactly.

And so I think that's the that's the the big question right on off is like does this prae does this trial kind of indeed the way silicon valley Operates in the storytelling models and the narrative models? There are examples of these people getting a little too far ahead of their skies. And maybe you can argue they could perceive something to be non fraudulent, while other people can, you know, kind of perceive IT to be fragile.

And but don't we see this kind of broadly in silicon valley? And doesn't this kind of bring up a question unlike are all start up now? And is the industry gonna a shift as a result of this trial in terms of behavior as investors and as entrepreneurs and how you tell stories, how you diligence up this.

this is going to get meaningfully worse. Um I don't know if Elizabeth mes committed fraud or not. I think that you know these folks will be able to um figured that out in detail. But here's something that I do know pretty precisely, which is the amount of money that's trying to get into silicon valley is going exponentially up.

And as that happens, you guys now see IT at every day where there are firms whose entire business now is just to literally write a check every day they're closing deals every single day. They're doing zero diligence. And so what that's going to create is an incentive for founders, particularly those whose backs s are against the wall or who's doing something that's highly speculative and hard to diligence to stretch the truth, to get the capital.

And it's impossible for guys like us to actually step in and due diligence on a lot of these companies even if you actually have time. But then if the competitive dynamic is such that you don't even have the time because somebody else besides you was going to be rip in a check with by just meeting somebody um and you know coron code having done the work on the own, which is impossible because they are not you don't have access to somebodies you know financial books, this problem is only going na get worse. And so I think we, as an industry, just have to realize that there's going to be an incentive to lie. There's going to be an incentive to stretch the truth. And it's because of the amount of money that's available and the lack of diligence that's happening.

sex. Is this an example of in the ACE of a list with homes of somebody being delusions as they strength or somebody committing fraud as a crime?

It's probably both. Now look, I think you guys are giving a little bit too much experience to the media and narrative that there s is a quality silicon valley failure. The truth that matter is there was no major slim valley VC firm, in fact, not even a minor one that had invested in theron's.

S as far as I know, there is no VC on the board of the real. We've talked about this before is a bunch of kind of grand hobo types, and there was no one who actually had a technical competence to do diligence. And so a list with homes isn't so much an example of silicon valley.

As somebody who was selling silicon valley, he was selling the promise of silicon valley, he was selling the idea that this was going to be a decor n or a senate corn to people who are too unwilling to know. And I see you tim draper are a lot people are really hanging in their hat on the fact that tim draper er wrote a sea investment to elise with homes. You know that that really is very different. You know when you write a seed investment, apparently, as with homes, was like a neighbor of his.

SHE her daughters were friends as my yeah.

And he clearly was an impressive person. You know, SHE came across impressively in person SHE obvious y cast a pretty big reality distortion field to a lot of, you know, smart people. So know he is a type of person who you would write potentially A C, C, C, two, just based on your a talent bet the fact that he later chose to engage in and fraud D I don't think that's like tim rappers fault. And IT doesn't make this like a silicon valley fraught again. You show us the VC firm that was hot wind by this.

but you are seeing, David, this trend of the the firms coming in and not doing diligence, not having audit rights, not having information rights, not doing proper diligence and basically relying on the previous investors. right. How troubling is that? And what are you doing to protect craft alpes?

Yeah so so luck. I think there's a big difference between going into A A board meeting and finding out the projections were inflated because like Frankly, we all take projections with a grain assault, right? But VS, the founder lying about the past, right? So people are always going to put the rosie picture.

Are they going to puff up with the future is going to look like IT is up to use the investor to determine if that's or not. But they cannot lie about the past. They cannot lie about what their revenue was last year, what complex they signed before you invested.

That is fraud, right? And that is what that's where I lived with homes cross the line. SHE wasn't just painting a rosy y picture of, you know what the technology would look like you know years now he was lying about their capabilities at the time people were investing that is the alone you can across um look, we conduct diligence.

We try to look at we financials, we try to make sure that the numbers are all true. Um you Frankly, we're not investing in things that involve a commence from a technical risk of technology rest. So we always use the product before we invest. The idea that the product would be faked, I think that would be hard to perpetrate that kind of frame with the test company. But so I look I mean .

that you up I just dropped a link into the zoom chat cofounder, former C E O palo altho by started up technology company head spin charge with security fraud and wire fraud and um this guy lock oni forty five from sana clara county basically was lying about their A R R in a test company and this rains a bunch of money so this is an example of something happen in every company yeah can happen at yes yeah I think .

I think you are knocks at .

just because you invest in set. My point is, if you have a person that's willing to rip in a check one hundred million dollars three hours after meeting you, asking for no diligence at some point, David, you're back. Is gonna be against the world because you're going have to justify your L P S.

Why you aren't in some of these theoretically good deals, right? And some of them will become fraught. They'll just turn out to be just the loves of distribution.

So it's a bit of a prisons to, in your math, don't do how you have to get deals done and you gets people who won do diligence. No, IT actually .

comes down to something different, which is then you have to differentiate with real brand. Meaning if somebody really wants you on the table table, they will absolutely slow everything down to get you close to, for example, like let's let's assume like it's mike more i'll use up there is nobody in the world, I think, who's not a complete botho moron who wouldn't slow his process or her process down to get mike to be on their board.

And so if you're willing to basically just scuttle an entire process um then just take the fastest money, I think IT actually says something that there is more risk in backing somebody like you, then somebody that wouldn't so done so or right. So then you know the problem is there's fewer there's fewer and fewer mike Morris in the world. You know, I think sax is one of those people.

I think Peter tel is another kind of person. You know bill girl is in other kind of person. So there are these people in our industry where I think that you will um slow things down.

And I do think a lot of these folks to do diligence and I think they'll be less fraud in in general for that cohort. But if your platform becomes one, that's just about ripping money in. And I think the late stages are roughly this. They're all it's all brand independent because the money .

is the same. The value of the thing that introduced the risk of the retail investor, you know we're seeing more retail participation, the a syndicates um you know via um you know one of investments online kind of marketplaces and also spaces where the retail investor relies on you to of some of these kind of bigger institutional or perhaps some name that gets some Carried interest in and investment doing the diligence. And if the activity level is going up and the dollars are flowing in and the margin of error is increasing, you know, is there are not some inevitable kind of S, C, C backlash and consideration around how are private companies ultimately raising money and how much they are closing. And we kind .

of face this can addressed nica. You know, we only take a credit investor money at this time. And so or anything that happens is with obviously sophisticated people, the top four percent of americans investing in companies and in our diligence. Now we have seen a Spike in what i'll call uh massage uh uh or painting the picture in a way that i'm not comfortable with. And we have maybe tripled the amount of time we're putting into diligence now because I really care about my reputation.

And maybe twenty thirty percent of the companies we wind up after initially wanting to invest, maybe giving them an offer, getting an allocation in recent history, twenty thirty percent we're winding up backing out during the diligence process because, uh, their revenue was not software bed. There was a hundred thousand and consultant revenue for me. It's like if you're going to you know make these kind of decisions early on in the company, I think it's indictment of a future fraud or future um moral ethical issues.

So where we're sitting out a in a lot cases, there are uh public platforms. Now republic and seed invest, which I know are also increasing there diligence process because there are so many newcomers ce to the space. And I think there's a level i'll be quite Franker of entitlement among founders that is being um let's say, encouraged unintentionally by the lack of diligence that's going on. People are not taking the process as seriously as they did ten years ago.

even five years ago. Well, well, yeah, look, I agree. I think the diligence you're doing is really good. And here's why agree with with chaos. Um so we have seen this friend in our industry of the private equity money coming in, in greater volumes in greater earlier and earlier and faster and faster right and started with you.

You have these um like Frankly like public company investors were looking at the the value at IPO relative to the last private round and they saw wow there's like two three x market here for one year. There's a phenomenal returns. Let's that by getting into the last private around, then they look at the second last private around.

They're like, wait, there's a big return there. So they keep moving earlier and earlier to all about that return. But to to mos point is just are applying a financial model where they're not in the diligence business. They're just and I think they just see like fdd is a costly doing business, right? I mean, they can model with a portfolio.

But but the only reason they can model and out that way and have the fragile and acceptable and predictable sort of costly business is because you had these firms in our industry who actually did diligence at the seed at the series a right. And and now the prime guys, they move in so early, they're actually even now doing the move in all the way to series a. So no one's doing the diligence.

And so so that that is a risk, I think, because IT might actually change things. And this is where bringing you back to Elizabeth mes, I think is important here that there's a conviction, I think you should do time. This was clearly A A major fraud, big time fraud. And even if you didn't directly perpetrate on silicon value VC, I think the message to the industry would be absolutely horrible if he gets away with IT. And Frankly, i'm a little concern she's gona get away with that, you know.

because he is incredibly charismatic jan kerrey was saying on A C, C, M, B, C had that don't underestimate her charisma and ability to snow people and the shangla defense. And SHE just had a baby, which you know people don't want to discuss because IT seems like IT sexist, but he is a mangali herself who will .

manipulate people .

in the I like .

what you say .

that I think you spend .

all but conviction.

I think is probably like a fifty fifty, and I think so. So here's here's a thing, when he was run this company, SHE wanted everyone to believe he was Steve jobs SHE even did the media tour with the turtle neck. SHE wanted everyone to know that he was a jobs is in micromanager who made every decision, was responsible to success. Now that she's on prior, he wants us to .

believe that he wasn't calling the shots.

SHE wasn't the voting o and this is sort of the rome high school reunion defense where he wants us to suddenly believe that he was sort of like, you know, sort of engineer who didn't know anything. And but SHE might get off because he kind of looks .

like least a cujo.

you know, that is.

A about save .

it's super offensive that he wants .

to get up there and say that he was this abused woman. I mean, for women who actually are abused for heard to get up and say, you an abuse woman and .

SHE perpetrated this twenty years, we don't know what, we don't know whether he was abused or not. And if he was IT may or may not have implicated in what he did, which we don't know whether he did because, again, thank god for the laws in america. SHE is presumed.

So let's let's all just like I think I think what David, where I agree with you is the following, which is we do need to know that uh, you know, investors, we all sign up for expressing the fiduciary responsibility, ie. S, on behalf of our L P, S, or on behalf our stay holders OK, there needs to be some equivalent standard that founders are held to. And there needs to be consequences for lying, particularly about the past.

Because in the future, you say, i'm just projecting, but in the past you write, you have to be able to realize on what's is given to, like when we do diligence in a company, we are given everything that they have, right? We talk to their lawyers. We talk to their lawyers.

Lawyers in some cases in the public markets, all of this has to be transparently published so that we can come to our own conclusion. Sometimes those conclusions are right, sometimes they are wrong. But we can at least know that they're not lying to the minute that IT turns out that they were fudging the numbers that they gave.

You're making, you know the best decisions you can. You're assuming that it's great data, but if the data is fudged, your fuck. And so to the extent that he did that, then he should be punished. We need that standard.

This is this goes beyond money. SHE was switching people's results. He was saying that he was giving them a blood result on her incredible very nose machine. And SHE was running IT to the back and running IT on an in, yes, and SHE.

So SHE was taking investors, putting their blood into her machine, the vernois machine, then taking them for coffee, running IT to IT out of the machine, and giving their resolves. I mean, this was the definition of a premeditated, deliberate and multi year fraud. I put her at eighty percent likely od of guilty, and I put the over under at thirty two point five months, served.

served.

I don't know what .

taking the under thirty .

two point five .

months s observed.

but I .

hope you're right. I am, I am worried that way to pull the .

rock over. what? What are kids gna get in jail if we were chinese right now and they played video games?

Basically, I think you do harder time. Uh, so moving on your next.

the consequences of the chinese internet companies?

No, what's the consequence to the kids if they're caught on deo by the companies, have to turn IT off. Right.

right, right. Here we go. China banks, Young people from playing video games, this is for kids who are under the age of A.

T, and they are now restricted from playing games on weekdays, can only play for three hours, most weekends. And these were set as a response to china's physical and mental health being affected by gaming, according to reuters. Uh IT limits. Um I think they're doing .

what all american parents would want, uh, our government to do for our kids.

I don't disagree with that. Gamers are now panny zed. If they don a bab and the game companies will be as well, gaming companies will have to prove they have an identification system in place, like a car monitor.

use their real name. And haris, I have three kids in that age, age. I am sweating. Who they're texting, who they're talking to, what game they're playing, the new game they wanted download. Fuck that. This is the only thing i've ever said that would make me want to move to china. This is one rule.

This is the most .

incredible thing i've ever heard there. So smart, by the way. What's so beautiful is they send fenty little tiktok to us so that we get addicted to actually and they know you, I, we're going to learn stamps so that you can know, take over the world. It's beauty is brilliant.

Yes, I would say like everything about china is is a measure decision, right? The the the the public burrow, the decision makers are not sitting their randomly ly shooting from the head based on intuition and saying, here I think we should stop. Video games seem bad for kids. There is clearly evidence and data and statistical models that are driving the decision. And their objective function is improve the health, the longevity and the economic prosperity of our society as a whole.

So you get state from china, what are you doing?

Continue com A A fever continue.

But i'm pointing out these guys, these guys generally don't make decisions based on someone's kind of like clip and intuition. They make decisions based on what they believe to be in the Better interest. And i'm not saying .

it's right or wrong.

but in the Better interests of economics. And I think I do. We can certainly report.

But in the united states, we value individual liberties above all else. And so we don't find ourselves in the circumstances that seems foreign, scary and crazy. But again, it's another and it's we're going to get to something else later. T yes.

that's true. But let's let's be you don't value here individual liberties. That's not true. That is what we tell people, but that's not totally true.

And you know, wow, I mean, we are .

literally sitting here fighting. There is a group of individuals who are fighting to wear masks or not have to wear mass for rather not have to take the vaccine. And at the same time, and I didn't know we want to go there, um we are denying a woman we have .

let's go to, let's go to tx.

Dave, sex, are you in support of texas abortion .

ban .

on china? No, I know. I think it's a stupid law on explain wine in a second. But just on the the china thing for a second um this is like i'll be a dissenting voice here.

This is like if we had given tipper gore dictor al powers, I mean, this is insane. They're a they're going to determine how many hours a kid can play video games. I mean, look, I get that the potential benefit, but this is incredible, impressive into the lives of citizens.

And i'm not sure that video game playing is all together a negative thing. You know, I think it's mostly our kids go through a face where they play a lot of games and they grow out of IT. And you talk to developers and computer programmer, they all went through some phase where they were like hyper addicted to video games IT you builds hanni oration IT builds sort of computer, uh, literacy.

So i'm not sure it's like that to look. Obviously, if someone does nothing but computer games or whole life, that's a problem. But as a face that I could go through.

I agree with you because I used to play three hours of fucking in sell a day 是不是 because I was a large key kid， because I was a large key kid and I didn't have anybody to take care of me. Um I don't think, David though that that's what kids are getting when they're playing four hours of fucked and .

call of duty every night, four hours.

These kids are playing ten hours. I think china has another motivation for this ban, which is they've got a lot of because of the one child policy, right? They've got a radical this baLance of sale, the female ratio.

They've got a lot of Young males without romantic prospects in that country. Basically, they have an insult problem. It's it's a giant insull problem.

And I don't think we hear much about IT because they control the media. But I won. Be surprised if there's a lot of this random violence out there. And the last thing they want to do is have these in cells playing fourth night and color duty, shooting people five hours a night and then gain their brains wired that way. That might be playing in this decision.

I don't know. Well, again, you're just dating the little health and the mental health .

implications of videos. 反倒 的 for the ban。 I'm arguing for the fact that china has certainly done something to indicate they have some data that indicates why they should make the decision that maybe you're right and maybe about kind of you know growing, getting people to be more romantic and get out of the house and go get marry and but there are certainly and remember their objective function is always about longevity and economic prosperity so you know there's something that making them say that we can increase economic spirity increase on getting ity by doing this and that outworked ver detrimental social and effects might be um and you know I think there's something to read IT to IT, but no matter what, every big decision they make has some degree of competitive advantage for them.

And you know those kids, if they are not playing video games, they are going to doing something else like, I don't know, programing computers, doing biotechnology in a lab, figuring stuff out on the internet, writing the next crypt of currency, I don't know. But there is gonna some advantage that's going to a rise out of the the time and the and the productivity is going to be generated by this. And I think that's the calculated the undertaking here. I'm not now we all agree their thought for .

the question is, what is this going to do for this generation if they don't play video games? And are they going to be more productive? Are they going .

to be will be good drones for the the collective?

You know exactly. And and that's the downside here .

is even if they get IT right in this particular case, how much freedom you have to give up, how much state surveilLances are in the enforcement and how many other insane policies will they force on people with this mentality of you don't get to live your life individually.

you've got a this is actually, I think your best points acts is that I think what could happen here is you can overplay a hand. And by squazing people too tightly, you can play video games, uh, you can't run your own companies. You're going to get replaced.

You can practice your own religion and you you can't say what. You won't be a journalist. These things could add up and and they could, you know, pass off a Young group of people who do what happened to ten square or in hong kong, and they could be dealing with, you know, their own revolution.

And what if its video games? A revolutions have started over similarly seemingly simple acts by an authoritarian government taking away people's right to sell fruit on the street. You famously started um this spring awaiting um in the middle so you you could see this actually I think you know maybe it's a small chance, five percent or ten percent, you creating a lot of social unrest.

Do you want to? Guy, you got a texas. You have one talk about them.

Speaking of social and rest.

i'm going to lose my mind here.

Uh, all right, here we go. S, B, eight creates a private cause of action that enables taxes to sue those who perform are aid and a beat. The performance of abortions after a fetal heartbeat has been detected.

The bank comes two years after abortion restrictions were proposed in georgia, mississippi, conducting in lousianner. The previous propositions were spoken out publicly against by progressive tech companies, companies with a fema customer base when we have businesses that proposed bill never became law. Uh sex you want to just a frame for us the legal sort of case here and then let's go to you.

You want to go back and actually frame uh robi weight and plant paot versus cases. I think those are important. Understand what those going on here.

sure. okay. Well, so you know row obviously gave away the right to choose um you know the reproductive freedom over you invalidate abortion law is very, very in a very, very sweeping way casey sort of modified uh row IT upheld IT and modified IT saying that the state could impose some restrictions as was IT didn't place an undo burden that was a key to m undo burden on a woman's right to to choose and I think what was at issue in that case was um I think of pennsylvania the sea pennsylvania imposed a waiting period and some consultation with an advisor and so IT delayed the abortion but I didn't restrict I didn't wise with me and yeah so so casey casey row as modified by casey. Really the is really the law, the land right now, which is the undo bird, then texas comes along and you would explain .

this .

law yeah so this law is regards of what you think about abortion is a really bizarre law because what IT does is IT doesn't just um ban IT IT doesn't ban abortion outright. What he does is create a private right of action, basically a right to sue uh in civil court, anyone who AIDS in a bets and abortion after about five or six weeks. So six weeks spaceless after a federal heart be can be detected, so which is about six weeks into the pregnant y in the way the law works is that um okay. So point one, abortion providers are prohibited from performing abortion if they can detect federal heart tones um again at six weeks there's no exception for rape and instance I think that's really exposed politically um and .

horrible do you think it's horrible as a human? Yeah here is your personal .

position yeah get I me to explain that the law so the law puts the owner of enforcement on private citizens, not government official. Okay, they do that to avoid to make IT harder to lily chAllenge this under row. And casey, okay, so what what the government has done here where text is done IT is IT gives private citizens y ability to sue abortion vida or anyone who aides and a bet someone to to get abortion so could be and uber driver IT could be a friend who simply drive so into the oration clinic. IT could be a person provides financial assistant that could be a secretary who works at the abortion clinic.

They can all be sued now under eighteen and abetting and here's here's really the the person who had the version cannot be so but but anyone who added about IT can be that's how they're getting around the the right to choose. And here's craziest part is the citizens who choose to sue don't need to show any connection to the person who are suing, and they don't even have to live in the state, right? So there's no connection to them.

There's no personal injury to them, but they are basically suing under a personal injury under a civil right of action. And if they succeed, the law states that they were told to at least ten thousand dollars in damages in addition to their leal cost. So if they win, their legal has got leal cost scape pay.

But if they lose, they don't have to covered the defendant's legal fees. So they just get a free shot here, which is also i've never seen a loser pay rule like this. I mean, there are loser pay rules but the symmetric so we have a symmetric loser pays well.

But I don't think we've ever had a civil law like this where um where somebody can sue, where there's no injury to them, there's no standing here. This is the thing that fundamentally, I think, at with our entirely legal tradition and I think regards of what you think about abortion, this law will eventually be invalidated by this record or a lower cord on that ground that they're allowing people to sue without standing. Um and and it's a horrible president because can you imagine if what texas is basically doing is deputising private citizens to enforce in civil courts a prohibition that they cannot or will not pass directly?

Is this the best they could .

come out and you'd let's just stay a couple more. The facts like this was an extremely well thought out law. Um I think that the the the prolife faction in taxes clearly had some very smart constitutional thinkers that were able to navigate around robi wait and and plant parented versus casey to get something written that could be passed in a way where you know sami do is basically punted and said we're not gonna a stay and so this is gonna have to meander through the course.

There is still lorist that I could just get kick down to taxes and I could remain a state issue, which there is a big rise. And if that's true, then, you know, other states could basically take a run at copying this this life. What I what I wanted to talk about was, if you bring IT all together, you know, freeburg said something about like a we really value personal freedom.

And this is where I was like cynically like actually that's not true. This is an example in my, in my opinion of where this is. Just like we are very hypocritical where, you know, if we talk about a vaccine Mandate, you know, there is just an entire fire, you know, up in arms of people usually, typically in the same states that are very anti abortion, that are like, treat me, likely you can touch my body, you know, I have the right to decide.

But when IT comes to this topic, they abandoned all of that and they go to the extreme opposite side, which is the government Mandates, and to be able to say that to fifty percent of the population that just because you are born with reproductive organs that you are treated different, specifically a uh over reason of agent, you're treated differently than a man, to me just seems absolutely insane and just like fundamentally just erodes this idea of equality like at just a very principal level. And the even worse thing is that then, you know, the corporations that actually used to be on the front lines of helping to drive social justice so far have been completely absent, right? You have remember in two thousand and nineteen, when he had these very impressive abortion laws, I think he was in mississippi, alabama, you had all of these companies come out and say, hey, no, not here, not under our watch.

Then when you had all these voter suppression laws in georgia, right, you had all these companies come out and say, hey, absolutely not, not on our watch. We will leave the state if you implement these things. But so far, what you've seen in this law is complete radio silence in texas.

And this is, you know, you've remember, texas is the ninth largest economy in the world, right in the world. So you have every single kind of company from technology to otherwise, who have chosen to either start or relocate their businesses in the state. And I gotta think that, you know, these employees and these leaders of these businesses should be saying something, and they haven't said a daming.

Free, free where .

you have that. And no good you. thanks.

Look, I feel. Um everyone has a limit to what they believe um defines individual liberty um you know should everyone have complete freedom to the point that they can take a gun and go shoot anyone that they want, the answer is no. I think even the most dire librarians would argue that there is some degree of what if the john Stuart mail sex um you know you should have the ability to do whatever you want within your sphere of influence of language doesn't interact with the sphere of influence of others and so the philosophical argument that I believe the pro life movement may, which is really A A different point of view on values, is that the sphere of influence of athas exists at some point in time and therefore shouldn't be invaded by the, by the, by the mother. Now i'm not speaking obviously my point of view.

My point of view is a extremely pro choice um just to be very clear but the argument is um is I think one that we we all kind of blush over and assume that it's it's about taking away women's right without recognizing the voice on the other side which says that there is a uh a right to to life by a future at a certain point in time. And so to me that there's almost like this principal debate that arises and IT probably certainly falls more along religious lines than IT does long on a religious spectrum, IT does on a uh kind of a libertarian spectrum or respective of liberties um that that kind of defines that that cross over point for people but clearly texas is a really interestingly confused state, right? There's this argument about individual freedom.

But now what comes across as highly kind of conservative point of view with respect uh the freedom of of of a pregnant an um and so you know I don't know if there really is an easy answer IT certainly seems to me in nowadays that the pro choice movement is the majority of the pro life movement minority and maybe i'm on that you probably know Better um but you know i'm not sure this truly does set a precedent that becomes kind of a widespread recognition of a new way of addressing kind of the pro life movement or giving the pro life moving to additional movement. I still think that the pro movement remains uh a minority and um and and over time that that will you know they'll be perturbation, but there will certainly be some resolution over time. Where are all the politically correct people?

Where are they? Where are they right? Where are all the politically? I mean, I I guess they are they were happy to get mike Richards or whatever the guy's name was fired from jeopardy last week. But where are they now when we really need them?

But to out that you really saying is one of outrage about this M M, C, in ton of outrage on social media.

See nothing.

I see a lot of useless virtually signals.

I don't see anything that I think we talking about here.

Is the leadership of companies and leaders in I going to be a million person march within forty five days okay.

Well, let me make go back to her mos point about whether you know he call this this bills smart in the sense that IT was really thought through. I agree that it's a deliberate attempt to circumvent robi waited, making harder to sustain a legal chAllenge against IT. But I don't think this is smart.

I think it's stupid philosophical politically and legally for the even for the prolific vein. So philosophical. I think the problem here is they're creating unlimited standing to sue across state boundaries by somebody who hasn't even experienced harm.

I mean, this is so far from what conservative juries and legal scholars have always professior believe. I mean, I remember twenty years ago, tor reform and ending frivolous lawsuit was the absolute bedrock plank on the of the republican party. So they're just throwing that out the window here with unknown consequences.

Hold on second, for example, why would this be used to sort of about people second member rights? Why wouldn't you just create a private right of action to see anyone who wouldn't? You know, I den beit um a gun crime, you know. So I I, I I think this is gna boom ing on .

conservative. Second.

here we get to the political stupidity of .

IT and Harry bedrooms. Ter, one of this is one piece we enough to .

do so much editing to no look for no the walls y journal has a great editorial. Al, today, okay, this is the walls y journ editorial pages, a great peace. This is from, they basic, say, luck.

They said, sometimes we wonder if texas, a journey to turn general and accident is a progressive plant. That's the guy behind this is ill conceived, legal attacking and obama ACCA backfire. Republicans in last year's election and loss of the streaming court.

Now he is leading with his chin on abortion. How about thinking first? So they're pretty clear this is going to get overturned.

And Frankly, then politically, this is just handed. This is democrat already having a field day with this. So binton said, this law is so extremely designed, allow for exceptions in the case of rape and incest. Let me like he's right about that and gather the polling for him is now going through the roof because all he has to do for the next ten days is talk about right to choose in this texas bill. And he's gonna cruise towards defeating the recall because is .

talking about something differently than I was. What what i'm saying is something very specific. If you go back to robi, wait, IT was written by a man for all we know. We can debate whether that makes any fucking in sense. But Harry black men went to the mayo clinic and lived there for like six or eight weeks reading medical textbooks and came up with this trimester framework.

And again, i'm just going to go on a limit, say, I don't have a fucking clue what's going on in a woman's body and I don't think kerry blackman did, even though he was much marter than I and was on the supreme court OK. And then casey tried to clean this up by going to this feedle viability thing. So we have this law that was really kind of ill conceived, but was kind of going in the right direction.

But I was really a very first form of judicial activism. We tried to clean IT up in the early nineties, but it's always been an issue where eventually what's really been happening as we've been pushing this to the state's right issue. And I think that the cleverness of this bill and its dangerous, but I was very well fought out. This was not a random thing where two haphazard dip shits got together and wrote this bill. David, I think that this was method ally planned out for years.

They are jeep shift. So it's totally going to backfire on them.

It's not going a little. For example, we now have an activist supreme court who may actually not opening on this on the validity of the issue, but say, this is a state's right issue. If this stays in texas and doesn't get outside of texas, you will have this specific thing hold and stand. And I think that that's a very bad president to have said, I think that these folks planned this out and I don't think they thought that I was an easy way to overturn IT. And I think that's why when everybody was waiting with baited breath for a leader to basically stay this, he didn't listen.

I think there's a lot of hysteria hyperbola on social media right now saying that rovio weight been overturned. The same court has overturned, yes, I get, but they're in that because court ruled on very narrow procedure grounds that I wasn't ready to hear about the texas law because a harm hasn't been committed yet. But they haven't said they won't look at IT in the future. I believe they will. I believe that this law be found on constitutional, not necessarily do think not because of abortion.

but just because you're because they're changing .

the legal definition of standing in a way that flies against everything we know about how the court system works. I just I think ultimately this is too clever by half, by the by the same attorney general. I think I was .

I don't think I think do we .

want to move on and talk about, uh, apple allowing people to, uh, link to their own websites?

The the apple thing is really big news because IT IT kind of goes to show you that you had you had a pretty progressive legislator framework in south korea. I don't think it's particularly a huge market for apple because most of the most of the um um up activity I think is android more than that is apple. Um but they basically just ceded the market and by deciding to basically confirm this law and then they started with these reader apps and allowing uh payments of people, it's the beginning of the beginning for you know the APP stores to be reconstructed and opened .

this just so people understand um apple said that would um allow media apps to create in APP links to sign up pages on those companies of websites, allowing the likes spotify, netflix to buy pass the iphone makers cut of subscriptions. Now of course you can use spotify, netflix on your phone, but you may have probably people haven't experienced this because they've already become members of IT and died on their site.

But you can actually pay through your phone and you can sign up through the APP. They're not they were technically not allowed to link to IT. So this is a small, small concession only to media folks. So what do you think sex?

Um I think your mother is kind of said, this is the beginning of the end. Um I think there's some truth to that. Um luck.

I think the root of this is the fact that apple has this thirty percent rate on any in APP purchases. And like bill gurley said, it's a rake too far, right? Just because you can charge thirty percent doesn't mean you should charge thirty percent.

Ultimately, this is why the whole ecosystem has been up in arms. Informing instate coalition to chAllenge apple that resulted in a lot of leal chAllenges, lawsuits and you are these companies like modify and tired they testified against apple um in hearings. Um so I think this thirty percent rate has ultimately backfire and apple um is created a huge backlash.

And now paying the Price theyve ready had to roll IT back for these so called reader apps. So you know if what you're doing is buying a description to, say, netflix, netflix will now be able to redirect you to the website. You can buy IT there and then consume the content you know on your IOS APP without apple getting a part of the split.

But h this now opens the door for, uh, this type of thing to apply to a to games as well, where there's a lot more in that purchases like fortnight, right? So I just think this is the case where what's your online that pigs get fat and hawks get. A apple has been a hug and now going slaughter .

yeah I know I want .

to point out like this is a really interesting experience of the free market. You know clearly consumers and the uh developers on the apps in the up store ecosystem were vocal and angry enough that that um that this behavioral change from apple, the structural change kind of came to bear didn't require regulatory intervention. I just want to point out how important relevant that is that .

you have the market is the the market .

is functional and having the government and regulators come in and you know people complaining to the senate about google and apple monopolizing them out, businesses um ultimately gets resolved when enough there's enough kind of collective mass from the consumers slashed partner that says to the the big income and player we're gonna play by these games anymore. But these rules .

anymore I got think on being appointed did make .

apple think maybe can stop me start giving .

concession, right, some modest concession that you're a spotify or a netflix or audibly we're going to let you buy through the ask.

do you want to let don't you think this is a nice win for the free market? Yeah.

I do. Well, look, I don't think monopoly are I don't think letting monopoly do whatever they want as free market. okay?

I mean, a monopoly competition, they will squash innovation. They will you know, they will basically a get in the way of permissionless innovation. So I you know, i'm in favorite raining in these monopoles.

And the two big issues, I think with apple and google will apple especially is number one, sidelining of apps. So the idea that they have total control over what s what apps get looter on your IOS device, people want the ability to create alternative APP stores that really exists for android, right? So I think that is coming for apple. Apple claims is a security issue.

but IT is. I mean, what they should do is if if you click on sid load apps, if you just give you a warning, you are no longer protected by us, you know you're subjecting yourself to fishing scams, your information and buy your beware, and then people can make their own decision.

I've always would be the best decision for what I like about this is I think this gives apple the ability to now just compete against everybody in the APP store without having to have this um you know what wear partners with you. They are not partners with people in the APP store. They watch the APP store, and when something great comes and emerges, they will copy IT.

They just do IT slower than facebook. So apple music studied spotify, and they create their own apple product, apple T. V. plus. Now, with ted, lasso is competing in netflix.

They watch netflix, and I signed up for apple arcade for my my daughters because I didn't want them to be paying for lake. You're in that purchases that rather just have the games be stopped up selling them. And that's been wonderful for five, ten bux a month to have that.

And I pay for the news products. So now they can just compete against everybody directly. I think all of these media companies are gonna be video games, podcasts, T V shows and music.

So I don't if you saw netflix is going to be doing podcasts about their shows and video games, I think amazon will be video games content. It's all going to be one thing. And disney plus will have games built into disney plus, I bet, in that subscription Price so that consumers are going to win.

Ultimately, you I think monos are good because monopolizers just like lazy. It's easier to innovate and compete against the monopoly. Y to be honest than IT is to compete against chronister when there is kind of embedded got a government regulation that prevents emerging competitors from competing effectively, uh, it's a lot harder to win then against some slow, big uninnovative monopoly. And well, yeah good. Well, here's here's the the canary.

So I I agree with you that big, slow lumber and also can be great compete against. But here's a problem when they could pull access to an ecosystem, when the gatekeepers, that's the problem because now you have to go to them and they're going be slow, library and stupid in terms of of allowing you to innovate. And when they see you becoming a threat to squat to you, that's the problem.

If these guys didn't control platforms, that be one thing, but they control the most important platform there is, which the Operating system. So I just think that, you know this is microsoft windows all over again, except there's two of them, right? There's IOS. And in a microsoft example.

you could know whatever software you wanted. They were just bundle ling. They weren't saying you couldn't, uh, nets cape. They're just say we're going to give you internet explorer with the Operating system. So this is even worse.

I mean, right.

apple, you can even install your APP.

yeah. Microsoft is actually pretty open by comparison. There is like a version button here. What spotify said is, look, when we have to pay thirty percent and apple music doesn't ough to pay anything, we can peat with that, you know and they have a point .

there yeah it's it's a completely well point. Uh, california is on fire. This is what the third or fourth year in a row this has gotten acute for the bay area. People are now making plans.

As freeburg mentioned on the last pot, I think that there's or two pots ago, there is like two or three weeks of the year, maybe even a month where you just can't really be outside in north n. california. You you can be outside.

Three of friends have been evacuated. They moved up there in the middle of they had to come down. They said he was raining ash.

You know one of our friend's homes is is literally threaten. Um it's just like and then the fire season is moving up. Earlier earlier in the year, you know my kids were in camping to how this this july and they had to be evacuated. Unfortunately for us, you know we had a really good friend of hers, neighbor here whose whose kids were also that can't be able to drive up um but my god like that was um there about .

what's going on about a trillion dollars of real state value um in california and you you assume a tent of that is exposed in middle of this kind of dense fire um uh these dense fire regions lets lets take to trillion dollars so the truly at all was a real tive value that you cannot ensure anymore.

So I had an idea about this freeburg I I was looking to three years ago and the fire started maybe was four, five years ago. Now, for a blanket that could go over a home could be installed or dropped over a home with helicopters. I know this sounds crazy, but is there a material that's light enough that you could put him on a helicopter and dropped over one of these three? yes. Well, what is in the startup exist? I mean, this, we'd a amain imagine if these homes had on the roof some sort of a system that when fire he got there, I just deployed the blanket and protected the home.

I know if you guys know this, but right now county in california is nearly impossibly to get fire in charts.

And um this is becoming kind of a predominant factor in california, particularly all the areas of lots of forest land is one hundred million of forest if a trillion dollars of real estate is actually exposed to fires and you can get fire insurance, ask yourselves the question, what's gonna happen when hundreds of billions of dollars of real estate literally goes up in smoke or um or get sold off? Who ultimately bears the cost? Where does that cost have its economic flow? And that's just the tip of the iceberg of the effect that may arise as these things start to take hold.

Know we have this huge jobs swing in real state. In ta hoo, is everyone moved out to california when the taha o you're in the pandemic. Now we're seeing ta ho real estate sell off like crazy. This happened in one country and cinema NPC county last year after the big fires they had there. And so there are county where you start to have these massive fires causing this massive m real state cell off and or the real state burns and it's uninsured.

I guess what happens? Famous desent, right? The federal government that, and ultimately the federal governments gonna these like crying events four, five times a year that we're gonna under writing losses for people's real estate that valued in a way that doesn't account for the effects of climate change.

This started sive shift in economic value that gonna someone's going to have to pay for over the next decade. And this just the beginning of IT. All of my is my strong.

I, I, I tweet this out about maybe six or seven months ago but with another with this fabulous entrepreneur's vid saw off I cofounded an insurance company called ott risk and in a we've been trying to build models and Price um uh this kind of insurance climate insurance you know social media kinds of like disruptions um civil and rest insurance things that are very typical A A typical sorry and to your point three burg IT is really, really hard to try to forecasts what's going on in a way where you can actually ensure these things with a margin of safety.

And so just as the as a person who would be the provider of this kind of insurance, what i'm telling you know what i'm learning is, man, these and burn negotiating multiple million dollar policies with these big corporate um and you know for example, like you know they want uh pandemic atures if there's the next delta very into whatever and I have to cut down my facility and here's my economic laws. I want to you know you to ensure that and OK uh, it's impossible and so I can only imagine what it's like the on the ground floor, somebody to just buy some insurance that of my house burns down. Yes, it's very hard and this kind of parametric insurance doesn't exist. Which means that if you live in any of these areas like I basically I think what that means is that climate change is gonna ravage um uh suburbs and it's gona ravage these sort of like far flung communities because um nobody y's gonna want to step in there and ensure the parametric Grace that allows .

people to live their we were what we started in two thousand and six. We offer parameter weather insurance online. So IT was all about our our mission with the manager of the change.

And so you could buy whether insurance online and you underwrite the risk in the way you wonder, write risk like this, auto insurance and any kind of insurance. You look at past data, you build the statistical model that represented the past data, the frequency of certain things happening, and that's how you Price the insurance. The problem now is the past data has absolutely no bearing on what's going on.

And so you have to basically create more fundamental deterministic models of fires, which is something no one's really good at. No one has any ability to do because we've never seen this kind of environment before. We've never seen hard year after hard year, dry year after dry here.

And so there's no historical data to draw from to build the model. So all the insurer throw their hands in the and we can take on that risk. We don't know how to Price IT, and we may not do that. I'm telling you, the governments can end up having a step in and pay people money for the loss.

Or the governments gone to have to say you, the reality here is that we can't afford to do this and you can build homes there. In what's talk about functioning markets, I think what we're realizing is the market now is so convinced that global warming is real and you can't deny IT that we just can't ensure for IT. Therefore, we're going to have to make serious societal changes. And that's part of this process, insurance being denied for hurricane zones and insurance being denied for fire zones is part of the process of people accepting the reality that we're not doing enough.

Yeah check out. The problem is not that gonna be denied, you're not going to be able to get that. And if you are, you're not going to be able to afford IT. Um and so so it's not even that people are really open to writing the kind of cover that allows you to go and safely live in like taaoa ten or fifteen years from now and that that's a shame of IT. So we have these beautiful places that I think you're just gonna under the rest and under pressure, and it's going to force everybody to live more and more in the major metropolis as which is, you know, I am not sure that that's what everybody .

is going to change building. I mean, that we saw now in florida and other places, luiz, an other places out of flood zones, nobody builds on the ground floor anywhere. Everybody builds, you know, on stilts.

And they put A A car garage underneath that cause it's get flooded. I have friends in new york this week and i'm here. I had to change my flight to come to new york for the wedding that i'm going to.

I had to change my flight because last night we're going to be flying into this crazy. This year they got three inches of rain in one hour. Fifteen people, my understanding is died in basement apartment because they couldn't or they didn't get out in time. It's going hard to understand, but I guess people stayed in their apartments while they were filling .

up with water and then did. Do you see the video of the the flood is ripping into the new york's subway? Yeah.

it's crazy. And go. And new york is not built for at this.

Now new york can just basically have to say, you know what? All the basement apartments, all the basement that exist, they're not livable. You can't live in a basement anymore.

And when we build new structures, the first floor is going to be built like they built them in miami, which is for water to flow straight through them. And the gracious underneath are designed to cept massive flood waters. I've been spending .

a lot time on water recently, and the the thing that I learned this week, which I had, not the thing that I learned, but a great way to summarizes, for folks listening, they don't understand climate changes. The areas that are hotter get hotter. The areas that are drier get drier, and the areas that get Better get much more wet.

And so when you have a period of, uh, dryness or heat, it's gonna extreme. And when IT rains, it's gonna be so extreme and we're just onna get buffer back and forth between these two extremes. And this is only going to escalate over the next twenty years or thirty years because we have so much embedded pollution that we have to work our way through. Forget all the new stuff, but all this embedding lum has a cost and was just starting to begin processing that pollution.

Well, welcome to the all in depressed episode.

I mean, for depressive, what way? This is my god day and birthday, guys. What .

happy birthday, the happy birthday. Women's rights are being taken away. Planet is on five.

New york is underwater. A covet is not ending. Nobody can sure ensure anything. And yeah.

I don't know, man, in the market dripping, there's lots of money coming in the climate change, investors and entrepreneurs are more optimistic. We've ever been you know, there's a backdrop of chAllenge. But what chAllenge is opportunity. And I think people are pursuing IT like not right now and it's pretty exciting.

I like the way you say entrepreneurs because I say entrepreneurs.

but you say entrepreneurs .

supreme is a very .

literal pronunciation .

of IT that look like you .

to tize something. Now sex checks .

your new APP leverage yeah, that's that's a good news .

here calling soon really well, great. long.

Fire the great world. Of I luck .

I think I think that is in terms of processing the the bad news. I do think we have attended a underestimate how much political partisans sort of whipped things up. In any event, we should we end with this rogan thing actually is a pretty good, is sure to talk .

about joe rogan got code um he was I think they are miss frame what he said, I actually saw the original quote where he said, should a Young person take the vaccine? This was in the very early days of the vaccine or should they wait a little bit and see if it's safe? I think was this position um not when I agree with, but I don't think what he said was absolutely crazy.

His quote was if someone has an ideological physiological reason for not getting vaccinated, I don't want to force to get vaccinated. So and then he got IT, and he had to cancel some shows. I think there's .

something kind of funny here, but also kind of serious here about the way the media covers news like this.

First, all yes, the media is positively gleeful whenever they can report that somebody who expressed any vaccine has since see your skepticism gets coated right? It's almost goolies I think um look, I am vaccine and really happy I got the vaccine I think IT gave me that helped me have a much, much milder case of cover than other was what I had so i'm prove x or whatever but here's what the media doesn't. The crazy st headline I saw about rogan was that rogan is taking a horse d warmer referring .

to iver mecon right now.

Look, I don't know whether I ver mecon is a helpful treatment or not. I think you're got to do a double blind study to figure that out but I also think that it's very dishonest to to be describing iver mecon as a horsey where I mean that the the person who invented I vacant intended as a treatment for humans. Humans do take IT as a treatment of certain parasites.

IT also happens to have a benefit in d warming horses, but this is one of its applications. So to describe this drug as a horsey warmer, as if I was the only thing that does, the purpose of that is to make anyone who thinks that I remember is a possible treatment, to make them look ridiculous, right? And know.

So why? Why is the press doing that? Well, the agenda is the press decided that things are good. Okay, I agree with them about that. But but this is where he goes off the rails.

They decide that anybody in in pursuing that agenda, they have to make any alternatives vaccine, which be any third treatment, and anyone who had take that their treatment look ridiculous. And this is where I think the media is cross over into total dishonesty. They're doing the same thing with money clonal anybodies, which actually I think our treatment that works. But anyone who is expressing .

support for this all goes back to the polarization with trump, right?

Was the drug that he was.

So so I think it's back to that. What do you think freedoms g um are you have any opinion on the rogan getting dunk on another anecdotal story?

Something is interesting to observe how much we've kind of as as with a lot of things when I say we I mean like society, each of us reading social media, the internet media, self uh kind of orient things along a spectrum, right and wrong, black and White, left and right. Uh, I feel like vaccination and vaccines have similarly become you either vaccinated and you're good or you're not fascinated or your bad or the opposite is true.

Um and it's pretty clear the tons of evidence that vaccination while IT may reduce kind of the um the severity of code. Um you know there seems to be uh much less protective effect with respected transmission, particularly with this delta very now and that's just a fact you know you can say, oh my god, Young vaccinated therefore i'm safe. But it's like, no, you're also exposed to delta uh, as someone who's unvaccinated in terms of catching IT and transmitting to other people.

Um there may be less severe and there will be less transmission. One interesting back, by the way, is that there's much, much, much less time when you're vacation ated you get with delta when you actually infect yeah incredibly uh incredibly a reduced them at the time for my ten days like one to two days um but still that is a very infectious kind of variant and so spreading but it's almost like we're blaming people that aren't vaccinated for delta spreading. Delta spreading because it's a really effective virus at spreading like at the story and uh this orientation around like your you're the reason the delta spreading is completely false and everyone tries to then fit the story into that narrative.

You think there is like such A.

I got infected. IT sucks. Like IT has nothing to do.

IT vaccinated or not.

he was vaccinated. I don't OK like the point is it's not about he didn't really, really wrong in the sense, and he's not to blame. This delta variant is infecting people.

Sx got infected with delta? No, I I I think I think the point people are trying to make her free burger is that he's been kind of people believe that with his platform he should be more or provos because vaccines, there's no downside.

But jack outlook don't don't agree there's such a media agenda here like once they decide what the agenda is going to be in this case is profess. And i'm not saying that's wrong. Okay, i'm just saying the way the media works is, first they decide what the agenda going, then they distorted everything to fit what their agenda is.

So for example, I ve vectis called a horsey warmer in the logic here is completely tortured. They just don't want there to be any theraputics alternatives of accident tions don't want to give and they don't want to give credit p potentially in the same thing to not look, i'm not saying I ver mcnish effective treatment. I have no idea, but there's no need to distort and demonize IT before .

even know what the truth is. By the way, I wouldn't I wouldn't use the term agenda. I know that that's a commonly used term that the media has an I would argue that the media has a narrative. And I would secondly argue that that narrative isn't necessarily defined by the media or by some set of people in control, but that that narrative is in effect defined by the consumers that consume the media and they click on the they vote with their views. And so the more views, the more clicks, the more dollars you spend on certain media outlets and certain writers, the more those writers get more stories to write, and the more the consumption happens.

And so my point of view is that the consumer ends up ultimately being the rider of the narrative and the definer of the narrative, and the storyline starts to fit that narrative versus feeling like we maybe felt years ago that all, my god, a few people, the cable in control of the media, they're running everything. They're telling us what to believe in. C, T, I think we vote. I think consumers vote with their dollars. They vote with their views and as a result that that is the narrative that gets .

written ah they were not supposed to be tribal, they was supposed to be objective. That was the concept of reporting is to who just reported the facts and let the came a good product. Well, now it's IT. Well, it's always been a consumer product.

but now it's just become so hard to run those special the more money make.

And it's gotten what I was supposed to be subscriptions. We're supposed to inoculate the reader the readers from this that oh were getting paid for subscribers. Therefore, we don't have to worry about clicks. And now what happened? It's worse because you will lose your paid subscribers if you don't give them what they want.

Yeah, i'm going to pretty now our download and tube going to sixty ten percent rate. So we've covered we've covered in you like .

this to be a world, right.

because but IT was a good .

discussion between the the four of us, everybody, the rain man, David's acts, please downtown, the all in APP. Just put a sea in front of all in and you'll find IT in the APP store. Congratulate to the uh folks who got into the syndicate and thank you to sax for allowing the to participate and lead the series. B going to be leading the series bay. Sax gave us the ability to lead the series .

bay and forty five, but just forty five and .

five four. You, but we have a show called all in after party and where we have done a couple episodes, including we entrust our wack pack uah, the sort of in between. So like actually what we should do is all the fans of the show, if you like all in and you want to know more busy.

go go to the park.

go to the go and sign up for all. And after party we have forty four hundred describes .

already after one day on the APP. Pretty good. Be great for those ah especially if the wat packets in there.

I I talk to our guy who does the merch the best emerge guy and he said he's made like five or six grand on merge in the last quarter. He is way through school on IT. That's so great.

Yeah right. Freeburg will see you at the production board closed event, nobody can get in. Sorry, if you want a ticket, it's not available to not. Happy birthday.

happy birthday. See.

thanks, guys. sex. This is where you say happy birthday that you fucking yeah.

happy birthday. Say I love you best back. Hp d, flash, H P D.

H P D. Has sex .

ever used an G? I don't think sex is ever used in a mog.

I mean, I I have, I have ten years of text messages with this fucking is never .

use a single log once? No, that's because he has no emotion.

We'll put the g in the day and he's written at one point smile .

and he wrote words all I congratulate to produce nick, who is getting .

married yeah very talking decision. See on the other side, you fuck in the lations s raco you gonna .

get a half .

of the call and congratulations .

you got have a his advisor shares to to call in. I will see you all next time. Bye E.

your.

Winter, man.

We open sources to the fans and .

just got crazy with.

Sexual attention to release .

here. B B.