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Anthony Scaramucci: Trump’s Red Card Reversal “Poisoned” the World Cup | Pivot

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Anthony Scaramucci: Trump’s Red Card Reversal “Poisoned” the World Cup | Pivot

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1670 segments

0:00

What organization in the world is more

0:03

corrupt than the Donald Trump White

0:05

House? The answer is boing, FIFA.

0:14

Hi everyone, this is Pivot from New York

0:15

Magazine and the Vox Media Podcast

0:17

Network. I'm Carara Swisser. Scott is

0:20

off today, so I brought in the one and

0:22

only Anthony Scaramucci, the mooch,

0:25

podcaster, founder of Skybridge Capital,

0:27

and author of the upcoming book, which

0:28

is getting a lot of kudos, All the Wrong

0:31

Moves. And I think I gave you a blurb,

0:34

Anthony, didn't

0:34

>> I got a blurb out of Hey, listen.

0:36

>> I never give blurbs. You know that.

0:37

>> I got to I got to, you know, I had to

0:39

use the crowbar, ladies and gentlemen,

0:41

to get the I pivoted on pivot. I had to

0:44

use the crowbar to get the blurb out of

0:46

her, but it worked.

0:46

>> All right, but so be honest with me. You

0:48

were at Taylor Swift wedding, were you?

0:50

>> Well, I'll be really honest with you and

0:51

tell you I would have liked to have been

0:53

invited to Taylor Swift's wedding

0:54

because when you look up in the

0:56

dictionary named dropping and

0:57

starfucking, there's a picture of me.

0:59

>> But alas, I was not invited to her

1:01

wedding. It

1:02

>> it made no sense the invitations. I

1:04

mean, I got the dancers and everybody

1:06

else like her all her friends and her

1:08

cousins and everything, but the

1:09

celebrities were just odd. It was so

1:12

they were some of them were obvious like

1:14

you know Bradley Cooper and those kind

1:16

of people but an you know like Adam

1:18

Sandler being the the the officient was

1:21

interesting. It was such a it was such a

1:23

dog's breakfast of celebrities. It was

1:25

fascinating. What do you think?

1:27

>> Well, what I love about it is it was

1:29

original and it was true to whatever

1:31

they wanted to do. You know, at the end

1:32

of the day, it's your wedding. Have at

1:34

it.

1:35

>> Yeah.

1:35

>> And they they went crazy. I mean, I one

1:38

time got married with a lot of fanfare

1:40

in a Roman Catholic church. The second

1:43

time I got married, dear and I got

1:44

married in our living room. So, I mean,

1:45

you know, you it's a it's a time in

1:47

their lives. They're both first time

1:49

married. I wish them nothing but great

1:51

success with their their marriage. But,

1:53

you know what? If you don't mind, I'm

1:55

going to give them a shout out because

1:56

they did list 20 charities and I'm on

1:59

the board of City Harvest, which is one

2:02

of the largest food banks in the

2:03

country, if not the largest, and they

2:05

gave a million dollars to City Harvest.

2:07

So, uh, God bless them for doing that

2:09

because we have a lot of food insecure

2:11

people in our great city car.

2:12

>> Yeah. Yeah. They gave a bunch Dolly

2:14

Parton. They gave a bunch to all these

2:15

like amazing They gave $26 million,

2:17

which is 13 times too, if you're a

2:19

Taylor Swift person. Um, which is her

2:22

favorite number. But it was really

2:23

interesting that it what was interesting

2:25

is how they handled it. I was going to

2:27

compare it to the Bezos wedding. I

2:28

wanted to be fair, but for some reason

2:30

that one felt awful and this one cracked

2:33

me up. And I don't know why the

2:35

difference because it was obviously an

2:36

over-the-top wedding. Um it was directly

2:38

in the middle of New York City which I

2:40

loved. And of course they did it to

2:41

protect them at Matt You've been to

2:42

Madison Square Garden a hundred times,

2:44

right? Presumably.

2:45

>> Yeah, I know. Madison I consider Madison

2:47

Square Garden one of my homes. I'm a

2:48

Nick and a Ranger fan. But I I think I

2:50

think the difference was the the Bezos

2:53

wedding was trying to be the Venice Film

2:55

Festival but for the Bezos family. And

2:58

this was like, hey, we're corny people

3:01

and we're going to have a little bit of

3:02

a cornball situation go on and we're

3:04

going to do whatever we want, but oh, by

3:06

the way, we're good people. We're going

3:07

to write some big checks to charity. So,

3:09

hey, listen, you know, I'm I'm a c I'm

3:10

all about if Jeff Bezos and his wife

3:14

Laura Buren Bezos, if they want to spend

3:16

money like that, God bless. I have no

3:18

problem with I know other people get

3:19

very upset with it. My attitude is, you

3:22

know, you make the money, spend the

3:23

money, no problem. And people forget how

3:26

many jobs are tied to events like this.

3:29

You know, you've got porters and waiters

3:31

and you've got people in the hotels and

3:33

and to me I like people spending their

3:36

money because it goes into the system

3:39

and it takes care of a lot of

3:40

>> experience right now. What's really it

3:42

was to me was interesting is one is

3:44

theirs was rather private even though it

3:46

was in the middle of New York City. one

3:48

there weren't you haven't seen pictures

3:50

very many you've seen very few pictures

3:52

come out and the ones that are out are

3:54

just people hey I'm going to this

3:55

wedding and sort of bragging about which

3:57

I'm fine with um the Bezos one was so

4:00

performative like waving from the docks

4:02

and the outfits and everything else and

4:04

I think that was one of the differences

4:06

I I suspect there's going to be a movie

4:08

of the wedding I sus I suspect that's

4:10

coming for all of us

4:11

>> let me ask Carara Swisser a question

4:13

though would you have promoted that you

4:15

were going to the wedding

4:16

>> would you have had like a selfie a

4:18

swisher like selfie.

4:19

>> I had would have to cuz it was strange.

4:22

>> I'm totally shameless. I would have been

4:24

promoting it. I would have had I maybe

4:26

even gotten a drone for myself like

4:28

follow me walking cuz I'm a revoling

4:31

person.

4:31

>> Yeah, I think they wanted that. I think

4:32

they wanted that. And I did like that

4:34

the even the celebrities were like

4:35

showing off, right? Like I was there.

4:37

Oh, by the way, I was there. And showing

4:40

off their dresses and it was a little

4:41

bit like the Met Gala. What was

4:43

fascinating is very little leaked and it

4:46

seemed adorable. It just seemed I you

4:48

know I like everything Taylor Swift and

4:50

Scott doesn't but I felt like now I'm

4:52

thrilled for you here for you can

4:54

because you probably like her but but I

4:55

do think that charitable giving

4:57

>> not to like I mean let me again I like

4:59

success stories you know God bless her.

5:01

What's not to like? All the girl every

5:03

kid likes her. God bless you know.

5:04

>> And by the way he's won you know how

5:06

many Super Bowls did the kid win? He won

5:08

two Super Bowl. Three. Three. Okay there

5:10

you go. Come on. I know they're a very

5:12

handsome guy.

5:12

>> Although I will say this about him and

5:14

he can respond to me. Uh he can direct

5:16

message me on Twitter, probably be mad

5:18

at me. He has the thinnest arms and the

5:21

least amount of biceps of any tight end.

5:24

>> He's a hunk.

5:26

>> Take a look at his arms. Okay, I'm just

5:27

tell this kid is very slender for a

5:31

tight end, which made him, in my

5:33

opinion, faster, quicker, and a better

5:35

receiver. I don't see him as a blocking

5:37

tight end. Okay. He's almost like a

5:39

third receiver for Mahomes, which was

5:42

part of the part of the warfare there

5:43

and part of the offensive success story.

5:46

>> Yeah, I guess I don't know what you're

5:47

talking about. He looks handsome to me

5:49

and I'm a lesbian. I think he's hot. Um

5:51

uh I think

5:52

>> Am I allowed to say that I'm also a

5:53

lesbian or you may say that if you'd

5:55

like, but um anyway, I was happy for New

5:58

York to do it and it actually was in

5:59

juxtaposition of something happening

6:01

down in Washington which was just a

6:03

disaster. But first, let let me start

6:05

first since we're talking about sports.

6:06

President Trump's officially inserted

6:08

himself into the World Cup. This is

6:10

really bad. I even I know this is bad.

6:12

US soccer star Foleran Balagan is set to

6:14

play against Belgium after FIFA

6:17

overturned his one match suspension from

6:19

a controversial red card. Trump

6:22

personally called a FIFA President Giani

6:24

Infantino to push uh for a review of the

6:27

decision Trump posted on True Social

6:29

saying thank you for doing what was

6:31

right and reversing a great injustice.

6:33

As we tape on Monday, Belgium has been

6:35

granted the right to appeal the ruling.

6:36

So things may have changed by the time

6:38

you listen to this. I mean, why did he

6:41

do this? It seems like it's it's just

6:43

sort of Sully's thoughts. If you're ever

6:46

on Jeopardy, they don't answer the they

6:48

don't ask the questions like this, but

6:49

they say, "What organization in the

6:52

world is more corrupt than the Donald

6:55

Trump White House?" The answer is boing

6:58

FIFA.

6:59

>> Boing. Yes.

7:00

>> That that's the answer. So, so I mean,

7:01

so you know, it's like the two of them

7:03

got married and did something very

7:05

corruptive and delicious to the world's

7:07

most favorite sport. But, but to me, cuz

7:11

I want to channel Trump for you. So, get

7:13

the barf bags out, guys, cuz I want to

7:14

tell you exactly how he thinks. I am the

7:17

man. Everything is about me. Let's

7:20

insert ourselves. Where's the attention

7:23

this week? Oh my god, there's billions

7:25

of people watching the World Cup. I got

7:26

to get myself inserted into that.

7:28

>> Right. And Taylor, he tried to insert

7:30

himself into the Taylor Swift wedding.

7:31

You saw that we tried to do that.

7:33

>> He tried to do that cuz she hates him.

7:35

He hates her. Blah blah. But let let's

7:37

just roll. But hello, Buttlick. Howard.

7:40

Howard. Howard, are you there? Butlick.

7:42

Okay. Get some evidence together. Okay.

7:45

And then he calls Infantino, who we're

7:47

calling sick sickopantino.

7:50

>> And he says, "This is what I want done."

7:52

And he basically does it. and and

7:54

everyone's looking around scratching

7:55

their heads and saying, "Wow, this is

7:57

low for America, you know, because it

7:59

just makes us look crash." But to Trump,

8:03

he's patting himself on the back. You

8:04

know what he's saying? Nobody could have

8:06

done this other than me. This is like

8:08

another war that I solved. I need

8:10

another FIFA peace.

8:12

>> Look, FIFA is very corrupt. And I did a

8:15

whole show on this about the corruption

8:16

and the ticket sales and everything

8:17

else, but the games seem to be going

8:19

well, right? people seem to be enjoying

8:21

the people here from other countries.

8:24

You know, you had Cape Verde, you had

8:26

Mexico last night. Even I I'm paying

8:28

attention to this a little bit. Um but

8:30

but this sort of it creates does it

8:33

create a problem here if this guy gets

8:36

By the way, just for people who don't

8:37

know, this soccer star was was born in

8:40

the United States. His parents are from

8:42

London. So he's what he's the kind of

8:44

the birthright citizenship that Trump

8:46

rails against at the same time which I

8:48

think is kind of of course ironic. It's

8:50

not ironic. It's typical.

8:51

>> Well, yeah. I mean that's that's Trump.

8:53

You know, he doesn't even probably not

8:54

even aware of that. And so that's

8:57

another big irony of the whole thing.

8:58

But but just just remember it has to be

9:02

about him. Uh enough of me talking about

9:04

me. What do you think of me? And how can

9:07

I get myself inserted into every

9:09

situation? Even if it's controversial,

9:11

it sort of sullies the U US win if there

9:14

is one.

9:14

>> Yeah. You see that? Okay. So, now that's

9:16

the FIFA's position. They're like,

9:17

"Okay, the Americans are going to win

9:19

anyway. It'll mean more ratings." Uh,

9:22

but somebody somebody Look, that was

9:24

supposed to be done on the QT. And then

9:26

Trump can't help himself. He's got these

9:28

AI generated truth socials which are

9:31

incredibly revolting where the guy's

9:33

pulling out the Trump card on the ref

9:35

saying, "Yeah, you're trying to throw me

9:36

out, but I've got the Donald Trump Trump

9:39

card, so I'm back in." And so, you know

9:42

what what happens is it's just a turnoff

9:44

to people. And and I got to say this to

9:46

you, Karen, and I'd love to hear your

9:48

opinion on this. I thought the games

9:49

were going great for America. I thought

9:51

people were coming in very thought the

9:53

place was so hospitable. And I'd be

9:55

like, "All right, well, America's

9:57

finally getting a a slap on the back

9:59

from

9:59

>> That's cuz he was out of it. He wasn't

10:01

near it. That's why."

10:02

>> Exactly.

10:03

>> You know, and speaking of being near, I

10:05

mean, I think it'll just You're right.

10:06

If the Americans don't win, it hardly

10:08

matters, but which is probably what they

10:10

what Infantino was thinking. Um, he also

10:13

marked America's 250th birthday, which

10:15

is kind of a a dud by giving a speech.

10:17

It was essentially a MAGA rally on the

10:19

National Mall after storms delayed the

10:21

event. He honored veterans and

10:23

astronauts while also touting his own

10:24

record and pushing for the Save America

10:26

Act. He also focused on his latest

10:28

obsession, communism, saying commun

10:30

communism is a loser and it will always

10:32

be. The night before at Mount Rushmore,

10:34

where there was hail, a lot of weather

10:36

his way, which was interesting. He

10:37

called communist menace a greater threat

10:40

than Pearl Harbor and 9/11 argued

10:42

American identity under renewed attack.

10:44

I I thought communists were losing. And

10:47

speaking of threats to American

10:48

identity, hundreds of mass members of

10:50

the white nationalist group Patriot

10:51

Front marched through DC on the 4th

10:53

carrying Confederate flags and chanting

10:55

reclaim America. Those photos were kind

10:57

of bizarre to look at. They were on the

10:59

subway. talk a little bit about what was

11:01

happening and also you know that you

11:03

couldn't see the fireworks because there

11:04

were too many of them and too much smoke

11:06

and there's smoke all we all have been

11:08

advised to stay inside over the next day

11:10

or two in DC because of the heat and the

11:12

the particullet from the from the

11:14

fireworks which nobody could see very

11:16

easily. Um talk a little bit about this

11:19

communism thing. This is I hadn't heard

11:21

communism from him. So thoughts on

11:23

what's happening here?

11:24

>> Well, it's Mandani related. This is all

11:27

related to the electoral success that

11:30

the Democratic Socialists have had

11:31

recently. And this is also related to uh

11:35

the speech that uh the mayor of New York

11:38

gave from George Washington's desk,

11:40

which uh obviously was very polarizing

11:43

to some people. Uh my arch nemesis,

11:45

Steve Bannon, somebody I can't stand,

11:48

actually nailed it in my opinion. He

11:50

said, "Hey, you better pay attention to

11:51

Zora Mandani because yeah, he's a great

11:53

communicator. He's got a vision for

11:55

things. He understands

11:58

where people are and how upset they are

12:00

and especially

12:00

>> young people.

12:02

>> Exactly. And Trump's response is to

12:03

label everything with a broad bush that

12:06

it's communism, Carl. And I think that's

12:09

a that's a big danger because when you

12:11

when you do that, you're missing the

12:13

elements of what's got people upset. And

12:17

uh this isn't communism. He if you

12:19

listen to his speech I sort of felt like

12:21

it was Scandinavianism you know it was

12:24

it was northern Europe it wasn't

12:25

communism

12:27

>> you know and Trump's trying to label as

12:28

something that it isn't and he does that

12:30

very successfully a lot of

12:32

>> who is this successful I haven't thought

12:34

about communist since like the cold war

12:36

essentially

12:37

>> yeah so I don't I don't think it's going

12:39

to be successful because you remember

12:40

Zoron Mandani is not flatfooted you know

12:43

when you're calling Hillary Clinton

12:45

crooked or Joe Biden sleepy or Jeb Bush,

12:48

low energy. They're more like standard

12:51

politicians and they're a little

12:52

flatfooted. You know, this guy, in my

12:55

opinion, has made one mistake. I won't

12:57

name the billionaire, but when he docks

12:59

a billionaire in New York City with

13:01

social media, I thought that was bad. I

13:03

mean,

13:03

>> I agree. I said so.

13:04

>> You don't want to put people in harm's

13:06

way. You want to put a peer to tear tax

13:08

in and people can pay it, no problem.

13:10

But don't name the people because you're

13:12

going to get you're going to make

13:13

people, you know, in a dangerous

13:15

position. But to me, this kid has only

13:17

made one gaff and I'm I wasn't a

13:20

supporter of his. I think the city is a

13:22

lot cleaner. The city looks very safe to

13:24

me.

13:25

>> Taylor Swift got married there.

13:27

>> You said to me last week that New York

13:30

is back. New York is flourishing. Is

13:32

that not true?

13:32

>> Yeah, absolutely. When you go there,

13:34

it's it's hard to walk the streets. It's

13:36

so full and vibrant and exciting and

13:38

along with the Knicks, the Taylor Swift

13:40

thing, just there's a lot happening

13:42

there. But what what is the you know

13:44

having the the no white nationalists

13:46

show up again was sort of my I was like

13:48

oh my god them again in that in those

13:50

weird outfits they wear the blue shirts

13:52

and the khakis with the weird white mask

13:54

that they have to hide themselves cuz

13:56

they're not proud of who they are

13:58

presumably.

13:59

>> Yeah. Okay. But you see see what's going

14:00

on. Elon Musk said that this was a uh

14:04

false flag operation. This is hard left

14:07

people that are sending out these white

14:09

supremacists. and there was a photo of a

14:11

young African-American woman on the bus

14:13

with them and people saying, "Okay, that

14:15

photo was contrived." Okay, I don't

14:17

believe I don't believe any of that, by

14:19

the way. But I'm just I'm just saying to

14:21

me, they're doing that for publicity.

14:24

They're doing that for the shock and awe

14:26

effect. And unfortunately for this

14:29

country and perhaps most countries, we

14:31

do have racist [ __ ] in this country

14:33

and we do have white supremacists in

14:35

this country. Uh but unfortunately we

14:37

have somebody in the White House that

14:39

sort of blows a dog whistle for these

14:41

people as opposed to denouncing these

14:43

people or ignoring these people. He's

14:46

like, "Oh, that sounds like a lot of

14:47

fun. Can you guys bring the matches over

14:49

here? Let's light the door flame log for

14:51

the white supremacist bonfire." You

14:53

know, that's the stuff that I I really

14:54

can't see.

14:55

>> It's all around the Save America Act,

14:57

though. I mean, that's really the focus.

14:58

There's, you know, story after story of

15:00

him the desperation of either passing

15:02

this or pulling some emergency powers,

15:05

you know, declaring a national security

15:07

emergency around voting and everything

15:09

else. To me, that's where everything

15:11

funnels down to is this fear of

15:14

November.

15:14

>> Yeah. I mean, listen, I mean, that's the

15:16

goal, right? We got to get black and

15:17

brown people not to vote. And so, we're

15:20

going to get ICE agents out. We're going

15:21

to scare you. Uh, I've got to get this

15:24

uh legislation passed, the Save America

15:27

Act. Uh, and if we get that passed as

15:29

well, you know, hopefully you'll stay in

15:32

your house and we can organize as much

15:34

of the white vote as we possibly can to

15:38

win these elections. And so Trump said

15:40

something people should really listen

15:41

to. If I can get this thing passed, we

15:44

won't lose an election for the next 100

15:47

years. Did you hear him say that?

15:48

>> He said that. Pay attention. So now

15:51

thankfully Thun is American enough still

15:54

where he's blocking Trump and he's

15:56

stopping him. Uh but you know listen you

15:59

know what what comes next is the answer

16:02

car because I think I think we got

16:04

Trump. Uh I think the courts have

16:06

knocked him to the ground a notch. I

16:08

think he's age is getting him. I think

16:11

some of the podcasters have broken from

16:13

him. Some of the traditional Republicans

16:15

are just waiting him out. Okay. So I

16:17

think we got Trump. I'm worried about

16:19

the next lunatic that shows up with the

16:21

same message, you know.

16:23

>> Any thoughts on who that would be?

16:25

>> None of the current lunatics. You know,

16:26

they they don't they don't have the Riz

16:28

Carisser. It would have to be a young

16:30

lunatic that we don't know right now,

16:33

but when I look at

16:33

>> Tucker Carlson, I've never asked you

16:35

about Tucker Carlson.

16:37

>> How do you look at him?

16:39

>> You know, Tuck Tucker is a typical dweeb

16:42

in the high school. Like, I wasn't a

16:44

click guy in high school. My uncle owned

16:46

a motorcycle shop, so I did have a

16:47

leather jacket, but I was also the

16:50

captain of the football team. So, I was

16:51

like not into the whole click thing. But

16:54

Tucker would have been that kid that was

16:57

like a sneaky bully. And so, a sneaky

16:59

bully is no one's looking. I'm going to

17:01

poke Cara in the eye. Okay, no one's

17:04

looking. I'm going to do something

17:05

devious or pranksterish to somebody

17:07

that's weaker than me due to my

17:09

insecurities. Right? So Tucker wasn't

17:11

the outand-out bully because I mean you

17:13

saw that guy, you just walk off to him,

17:14

punch him in the face, and make him go

17:16

away. And so what Tucker does, he's like

17:18

a dodgeball bully. Okay, so hear me out.

17:21

You remember when you were in elementary

17:22

school, you were probably the you were

17:24

probably the smart kid in the back

17:26

lurking with the ball.

17:27

>> I was too small to hit. I was always the

17:29

last kid before to get hit.

17:32

>> And you were always waiting for the big

17:33

jock to hit the other jock and then you

17:35

snuck up and hit the big jock and you

17:36

weren't.

17:37

>> Correct. Thank you.

17:38

>> Okay. But Tucker is a dodgeball bully,

17:41

okay? He's been sneaking around bullying

17:44

and terrorizing people, okay, for his

17:48

adult life. And now he's got a very big

17:50

broad podcast that he can do this on. My

17:54

buddy Chris Cuomo, people should go look

17:56

at the tape. He took a karate chop to

17:58

Tucker's Adams appall as as he was

18:01

spousing his BS about Russia, okay? And

18:05

you know, and and Chris doesn't give a

18:06

[ __ ] just took him to the ground. And

18:08

so I say to myself, number one, is he on

18:10

the take from Russia? I don't know. So

18:12

I'm not going to say yes or no. But he

18:14

he uses Russian talking points when he

18:16

talks. He

18:16

>> does. Yeah.

18:17

>> No. Number two, what, you know, he's all

18:19

of a sudden anti-Israel. And we can

18:21

debate that. I'm not saying Israel's got

18:22

a great brand right now. I think they've

18:24

had a lot of mishaps. But you went from

18:26

pro-Israel hanging out with Huckabe to

18:30

now you're anti-Israel. And I'm like,

18:32

guy, what are you doing exactly? And you

18:34

know what he's doing? He's feeding the

18:37

ducks of his audience. Okay. So, he's a

18:39

dodgeball bully who feeds the ducks of

18:42

his audience. I I think the guy

18:44

>> give him a chance or not.

18:46

>> No. No, he's got no chance. And I think

18:48

he's a complete tool. Also,

18:51

if Trump is alive when he announces his

18:53

candidacy, Trump is going to send like

18:56

orange maned cruise missiles up to Maine

19:00

and and blow blow Trump, you know, blow

19:02

blow Tucker out of the water because One

19:05

thing about Trump, he knows the Achilles

19:08

heel of people like Tucker. So, so and

19:11

and and I predict Tucker won't run

19:14

>> because listen, that is that is a big

19:16

boy sport as you know. It's not

19:18

podcasting. He's not hanging around

19:21

>> waiting for your next massage. It's

19:23

like, okay, we got to get on the road.

19:25

And you can hate Donald Trump, but

19:26

Donald Trump is a grinder. I watched

19:27

him,

19:28

>> you know, 8 in the morning till

19:30

midnight. Let's grind this thing out.

19:32

Tucker doesn't strike me as that.

19:34

>> I see. Pass me the nail file. I'm about

19:36

to get a Manny Petty, Tucker Carlson,

19:39

the dodgeball.

19:40

>> Can I ask you one last question on this?

19:42

Um, so what's Trump's move? We got July,

19:44

August, everything's quiet. What does he

19:46

have? He doesn't have much time till the

19:48

midterms besides trying to stop the

19:50

election itself. What What does he do

19:53

now? How does he get attention? What is

19:55

What is he going to do?

19:56

>> We have more revulsion coming. And so on

19:58

July 19th, he'll be in the Meadowlands.

20:00

He'll be at the New Jersey New York

20:03

stadium handing the trophy to somebody

20:05

who has won the World Cup because

20:07

Infantino Sikafantino is going to let

20:09

him do that. So that's going to be a big

20:11

day for him. Lots of attention on him.

20:12

You'll have billions of people watching

20:14

him. He'll be very happy about that.

20:15

Right. Exactly. And he's he's announced

20:18

his griff to the public. Okay. So if you

20:21

ever thought that he hasn't learned from

20:22

the KGB, he has actually because what

20:25

does the KGB do? They spy out in the

20:27

open, right? Remember John Lar would

20:29

explain to you that the person shows up,

20:31

they look like a KGB spy, they act like

20:33

a KGB spy, so you don't think they're a

20:35

KGB spy, but guess what? They are one.

20:37

And so Trump is like, "Let me announce

20:39

to you my grift." Okay? And so here's

20:42

all the different things I'm doing. He

20:44

even put the $15,000

20:46

of Infantino tickets that were given to

20:49

him on his financial disclosure, the

20:51

FIFA tickets that were given to him. So

20:52

So what he's going to do is he knows he

20:56

doesn't give a [ __ ] about his party. He

20:57

doesn't care who wins the election as

20:59

long as he's not overly investigated.

21:01

He's going to pardon himself and his

21:02

family. He's going to try to make $10

21:05

billion

21:07

over the next two years.

21:08

>> All right. Well, that'll get us into So,

21:09

that's what he's working on.

21:11

>> That's what he's going to do. Yeah. He

21:12

He's about glory, self angerandisement,

21:15

and moola. Those are that's the holy

21:18

trinity inside his brain.

21:20

>> Okay. Well, we'll talk about that

21:21

because we're going to talk about

21:22

something that you know a lot about,

21:23

which is cryptocurrency. Okay, Anthony,

21:25

let's go on a quick break. We come back.

21:27

Millions of investors lost billions on

21:29

Trump's memecoin.

21:31

>> This is advertiser content from Harvey

21:33

AI. We have a choice over who we work

21:35

with and who we don't. Specifically, who

21:37

we allow to advertise and who we don't.

21:38

And for those of you who watch my

21:40

content, I am not an AI catastrophist.

21:42

I'm an AI optimist. I think it's going

21:43

to create more jobs than it destroys.

21:46

And I think our job as professionals is

21:48

to figure out how to leverage these

21:50

these tools. AI uh more than almost

21:52

anything I do in terms of what I could

21:54

point to for real economic leverage and

21:56

savings is 100% in the legal fields.

21:59

Harvey is the AI designed specifically

22:01

for legal work trusted by leading law

22:03

firms and enterprise legal teams. All

22:06

right, so now I'm looking at their demo.

22:10

It plugs into tools that lawyers already

22:12

work with Lexus, Nexus, Microsoft, and

22:15

this is a key and I do this internally

22:16

with my LLMs with permissions. It lets

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you look at the firm's own files and

22:23

databases.

22:25

So here it's answering a question, reads

22:27

the complaint, pulls the relevant terms,

22:30

checks the web, weighs the evidence, and

22:32

drafts a response. But it also can do

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this in a shared workspace between the

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firm and the client. So they both have

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visibility into the work being done and

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can both add value to it. I I think this

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space is clearly sort of handinand glove

22:47

for AI, right? There's no doubt about

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it. This, I think, is uh going to be

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super helpful not only for law firms

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themselves, but internally for general

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counsels at companies. Harvey is AI

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tailored for law. You can learn more at

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harvey.ai.

23:08

Anthony, we're back. Nearly 1 million

23:10

people who bought President Trump's

23:11

memecoin have lost a combined 3.8

23:13

billion. Guess where it went. At the

23:15

same time, Trump disclosed earnings of

23:17

$636 million from the memecoin. In 2025,

23:20

Trump profited whether the coin uh price

23:23

rose or fell, collecting fees every time

23:25

the token was traded, which he which is

23:27

called a vig, which he often uh prompted

23:30

his followers on True Social to do.

23:32

Meanwhile, Michael Sailor's strategy has

23:34

abandoned its famous never sell Bitcoin,

23:37

wasn't a holder anymore, um mantra. The

23:40

company is launching a $1.25 25 billion

23:42

monetization program to raise capital

23:44

with Bitcoin sales already has sold 216

23:47

million. Trump's disclosure, by the way,

23:49

showed active trading of strategy

23:51

shares. Um, where, you know, for people

23:53

who don't understand what was happening,

23:54

we talked about this last week, he made

23:56

several billion dollars largely related

23:59

to crypto, very small amount in real

24:01

estate, similar similar to what he

24:03

always makes in real estate essentially.

24:05

uh nothing more or less but there's a

24:06

lot of you know and of course the kids

24:08

have their own griffs going on and Jared

24:10

and Ivanka have their own grift so talk

24:13

about how we should be thinking about

24:14

crypto now and what happened here with

24:17

Trump

24:18

>> well I mean it's important to people to

24:20

understand how dramatic this griff was

24:23

he needs an academy award or a FIFA

24:25

World Cup trophy maybe FIFA will give

24:27

him the grifter prize of the you know we

24:30

gave you the the FIFA peace prize but

24:33

the griing has been so Good. Here's the

24:35

FIFA Grifter Prize because this is

24:38

unbelievable. Just to put it into

24:39

context for everybody, all of the

24:41

publicly traded crypto companies

24:43

combined made less than Donald Trump did

24:46

in crypto. Just so everybody knows, he

24:49

made more money than Coinbase, Kraken.

24:50

Put them all together. Kraken's not

24:52

public, but you get get my point. They

24:53

do disclose their financials. Uh, and

24:56

remember this, okay? Trump's disclosure

24:58

was 927

25:00

pages. Barack Obama, his ex his his was

25:04

eight pages. Okay. So, this guy filed a

25:07

phone book. He didn't file disclosure,

25:10

but but the crypto stuff is so bad. It

25:13

is so egregious. So many people lost

25:15

money and the differential of 3.8

25:19

billion losing and him making 800 is

25:22

just to me insidious. But I'm I'm going

25:24

to say this to you and I know you get

25:25

this. The Emirati royal family bought

25:28

$500 million stake in his company before

25:33

the inauguration. Right.

25:35

>> Okay. So, I don't know. You tell me. Uh,

25:37

that was just a Hey, that's a nice

25:39

gesture.

25:40

>> Hey, Cara, how you doing? You know,

25:42

there's a Cara Swisser. It looks like

25:44

it's from your longevity documentary

25:47

behind you. I'd like to buy that from

25:48

you for $500 million just because, you

25:51

know, you're a nice person, Cara. Is

25:53

that how the Emirati royal family

25:55

treated that situation?

25:56

>> Right.

25:57

>> So, so to me, it's again, I'm taking the

26:01

money. And by the way, you stupid crypto

26:03

bros, what did you think was going to

26:05

happen? Oh, you thought I was supporting

26:07

you? No, no, no. This Clarity Act, which

26:10

everybody would like to get passed, that

26:12

can't happen because my opposition

26:14

uh hates me and they're going to vote

26:16

against it to spite me. And oh, by the

26:18

way, that spits you. But haha, guess

26:20

what? I didn't care about you, right? I

26:23

didn't care about you.

26:24

>> What happens to the the cryp what what

26:26

is happening like what Sailor has done?

26:28

Obviously, he's been super aggressive

26:30

and you've been deep into crypto and

26:32

Bitcoin particularly where does this

26:35

hurt the Bitcoin business because it was

26:38

actually improving allegedly under Trump

26:41

with all these you know the regula

26:43

Gensler was gone everything else. Where

26:46

does this leave crypto now? Because it

26:47

then has this taint as as as the world

26:51

the World Cup has of Trump's finger

26:54

dirty fingers all over it.

26:55

>> Yeah. So, nobody likes me in the crypto

26:57

community for saying this, but I'm going

26:59

to continue to say this. Gary Gensler

27:01

was a pain in the ass to the industry.

27:03

But you know what Gary Gensler did? He

27:05

blocked a lot of the low lives and a lot

27:08

of the people, a lot of the scammers out

27:10

of the industry. Trump has opened up the

27:12

floodgates and became the scammer and

27:14

chief in the industry. So people said,

27:16

"Oh, this is going to be great for the

27:17

industry." It's not great for the

27:18

industry. You you would want the mama

27:20

bear. You would want propitious and

27:23

ordinary transparent crypto regulation

27:27

with a defense system against

27:29

scumbaggery. We didn't get that. So when

27:32

Trump announced that memecoin, Cara, I

27:34

was at the World Economic Forum with

27:36

Brian Armstrong on a panel and I said,

27:39

"This is going to be very bad for the

27:40

industry because this makes us look

27:44

terrible." And his opposition, there are

27:47

young Democrats that would probably

27:48

support the cryptocurrency industry that

27:51

are looking around saying, "I can't do

27:52

it now because of what Trump has done."

27:54

Uh, and so so to me, I think it's a I

27:57

think it's a big issue. You mentioned

27:59

sailor, so we might as well bring him

28:00

up. You know, Michael's got to be

28:02

careful because he's an absolutist and

28:05

he's an extremist. So, he said at a one

28:07

side of his mouth, I'm never selling my

28:09

Bitcoin. You should sell one of your

28:11

kidneys to buy and hold Bitcoin, but

28:14

he's got pressure on him and he's got a

28:16

in he's got a cash imbalance. And so,

28:19

guess what he's doing? He's starting to

28:20

sell his Bitcoin. Like, Michael's not

28:22

going to take advice from me. And I like

28:23

Michael, but I would say Michael, you

28:25

become part of the story. you go on your

28:27

yacht, sail off into Sicily somewhere,

28:30

stop tweeting about Bitcoin, get out of

28:33

the story making business. Because what

28:36

happens in a situation like this is like

28:38

a fighter squadron. Let's say we got

28:40

B17s about to strafe Berlin and one has

28:44

engine trouble and is lagging behind the

28:46

others in the squadron. Uh, what are the

28:48

meersmiths going to take out first?

28:50

They're going to take out that one and

28:51

this is Michael right now. So get out of

28:54

the story. I wouldn't sell any more

28:56

Bitcoin, by the way. Your job is to have

28:59

Bitcoin go back up, and you getting out

29:01

of the story will probably help that.

29:04

I'm long-term bullish on Bitcoin. I

29:06

think we're in the typical four-year

29:08

cycle where we've corrected 50%. We

29:11

could correct more, but I think the

29:13

long-term bias for Bitcoin is up. And uh

29:16

I think if you hold it for 5 years,

29:18

you're going to be well well situated.

29:20

>> Here you have Trump sort of dirtying up

29:21

the the industry in a ways. what needs

29:24

to happen from a bipartisan, how can it

29:27

return to a way where you don't have,

29:29

you know, too much regulation and at the

29:32

same time you zero out all the all the

29:35

scammers.

29:36

>> So I I I think there's only one thing

29:38

and that is time and demography. So I

29:42

think if you're above the age of 60 and

29:44

you're in the Democratic party, you hate

29:46

crypto. I think if you're below the age,

29:48

if you're in the 50 to 60, you're crypto

29:51

by curious, but you're like

29:53

cryptokeepic. If you're below the age of

29:56

50, you're generally like, okay, I get

29:58

this, and there should be an ecosystem

30:01

allowing us for tokenization and for

30:04

general improvements of the financial

30:05

services/fintech

30:07

community. And so I think he set the

30:11

industry back. I think it'll be three,

30:13

four, five years before we see the right

30:15

type of regulation. I want to be wrong.

30:17

You know, Cynthia Lumis, Tim Scott are

30:20

saying that the Clarity Act is going to

30:22

get passed if you go to the poly

30:23

markets.

30:24

>> Explain what the Clarity Act is.

30:26

>> Okay, so the Clarity Act in the most

30:28

simple elevator pitch is exactly that.

30:31

We're going to offer you clarity on

30:35

regulation associated with crypto. Where

30:38

is Bitcoin going to be regulated at the

30:40

CFTC or the SEC? Where are these other

30:43

coins going to be regulated? What's

30:44

going to be allowed in the industry? How

30:47

are we going to deal with stable coins?

30:48

Are they going to be able to pay

30:49

interest on their um the balances that

30:52

you put at a stable coin company? Uh

30:54

what will the banks be able to do? Will

30:56

will we charge the banks on their

30:58

balance sheet, which they would do right

31:00

now if I held my Bitcoin? I can't hold

31:02

it at JP Morgan, but if I was able to,

31:04

they they they hit them with an

31:06

overcharge on their capital account. But

31:08

let's say they could segment it out.

31:10

Will the money center banks eventually

31:12

be able to custodian

31:15

Bitcoin? And so why are we calling it

31:17

clarity? Because the pendulum has been

31:19

swinging back and forth between the

31:21

administrations. You get hard

31:23

left-leaning regulation from the SEC and

31:25

it swings back to hard right leaning

31:28

regulation. We were having regulation by

31:31

enforcement under Gensler. Now we're

31:32

having light touch regulation. This

31:35

would this would provide a clear signal

31:39

to Democrats and Republicans. Here are

31:41

the laws as legislated by the Congress

31:45

signed by the president. And so this is

31:48

the interpretation bandwidth you have

31:50

now as opposed to this, you know, this

31:52

bit this wider bandwidth.

31:53

>> It feels like grift again. That's what

31:55

it it has more of a nervousness around

31:57

it because the Trumps are around. Well,

31:59

well, well, it Let me explain why it

32:01

does, though. Because all Gillibrand and

32:03

these people are asking for is, okay, we

32:06

don't want the president's family to

32:09

steal another couple billion dollars of

32:10

of crypto. So, can we at least legislate

32:14

or create a rules-based system that's

32:17

ethically guided? And the White House

32:20

said, uh, no. Uh, we like when the

32:24

president steals. Scott Bent said that

32:26

the 2.4 four billion that he took is a

32:29

sign of US innovation is what he said in

32:32

an interview. This guy I mean you know I

32:34

mean you got to be kidding me. I mean

32:35

this is this is literally unbelievable.

32:38

>> This guy

32:39

>> it's like I mean but it's you know you

32:40

know what it is it's like a sock puppet

32:42

at this point. It's like that used to be

32:44

a person you know like Prince formerly

32:46

known as Prince that used to be a person

32:48

formerly known as Scott Bent. He's now a

32:51

sock puppet for Caroline Levid and

32:54

Donald Trump. Okay. And you're saying

32:56

that with a straight face in an

32:58

interview, guy. I mean, come on.

32:59

>> I know. I agree. So, uh, last small

33:02

thing. Uh, July 4th officially marked

33:03

the end of the Department of Government

33:05

Efficiency, better known as Doge. In a

33:06

post on X, the agency said, "While the

33:08

formal mission of Doge has come to an

33:09

end, the mission to eliminate waste,

33:11

fraud, and abuse will continue. Good

33:13

stewardship of taxpayer dollars and

33:14

accountable government are not temporary

33:16

initiatives." Researchers estimate

33:18

Doge's cuts to US aid and humanitarian

33:20

aid contribute to hundreds of thousands

33:22

of deaths worldwide. Jo claims it saved

33:25

taxpayers about $215 billion through

33:27

spending cuts. The original goal was 2

33:29

trillion. Many people feel it cost the

33:32

United States. Actually, one thing we

33:33

won't be getting is a final assessment

33:35

of what actually accomplished. Uh budget

33:37

director Russell Vote recently told

33:39

Congress, "We have no plans to publish a

33:41

closing Doge report." Of course not,

33:43

because if they did a good job, they

33:45

would tell you. Uh I think this was just

33:47

as it turned out as I said it would it

33:49

was a nothing burger of of massive

33:51

proportions and actually led to death of

33:54

people around the globe especially

33:56

children. So uh any final thoughts on

33:59

Doge? Just another waste of time.

34:01

>> Again there there was a Doge. Uh it was

34:04

it was the Clinton Gore reinventing

34:06

government. That's right. Yeah,

34:07

>> I just want to remind everybody, we took

34:09

426,000

34:11

jobs and we eliminated them over eight

34:14

years through attrition and buyouts and

34:17

process redesign. Uh, and what I don't

34:20

never can understand for the life of me

34:22

is I think I'm a reasonably smart guy,

34:24

but I know I'm stupid in a lot of areas.

34:26

But if I had a B next to my name, you

34:30

have to explain this to me car because

34:31

you hang out with these people more than

34:32

I do. So, I've got billionaires that

34:35

troll me on Twitter cuz they're smarter

34:38

than me and they know more about

34:40

everything than I could possibly know.

34:43

>> But, and I understand that. Yes, you

34:44

know more about neurology than

34:46

neurologists and more about the military

34:48

than the military. Yes, you have a

34:49

billion dollars. You're the smartest. I

34:51

understand that. But why wouldn't you

34:53

have gone to 25-year veterans of the

34:58

GAO, the government administration

35:00

office, and said, "Okay, where are the

35:02

worms in the system? How can I plug a

35:04

few holes? I'm not going to save a

35:06

trillion dollars or $2 trillion, but you

35:09

know, from an engineering perspective,

35:11

the structural design and the embedded

35:14

cost of the government, what could we do

35:16

to stop some of the

35:17

>> They didn't want to do that.

35:18

>> And how could we do that gradually?"

35:21

They didn't. And

35:21

>> they didn't want to do that because

35:22

what?

35:23

>> Because they wanted to please Elon and

35:24

let him jump all over the place with

35:27

I don't know. I I think he just was to

35:29

please Elon. I think Elon felt like this

35:31

was important. And that's where they had

35:33

the falling out over the tax bill when

35:35

he started to show what he really was

35:37

made of, which was spending more

35:39

government money. Um, and I just think

35:41

it was just all a act. They thought it

35:43

was all nonsense and idiotic and

35:46

possibly gave Elon and his minions uh

35:50

access to lots of secure government

35:52

data. I always thought it was about the

35:54

data, but that's just me.

35:56

>> Well, it was definitely it was

35:57

definitely a missed opportunity because

36:00

we could have gone back to payo

36:02

legislation

36:03

uh that got us to the budget surplus

36:05

during the Clinton era.

36:07

>> We could have gone with a Clintes a

36:10

dozelike system that was bipartisan. Uh

36:13

we could have said to our fellow

36:14

Americans, "Hey, we're not going to fix

36:16

the problem in 10 years." But you know

36:18

what? Over a 20-year period of time, we

36:21

could get the debt, we could get the

36:22

spend in line with where the GDP is.

36:26

>> Uh and we didn't do that. And you know

36:28

what's going to happen? And you know

36:29

this, and I know this, my buddy Ray

36:31

Dallio knows this. You're going to have

36:33

an American president in 2036, 2040

36:37

dealing with a $55 trillion budget

36:40

deficit. Mhm.

36:41

>> And they're going to be sitting there

36:43

saying, "Okay,

36:44

the money's not worth anything anymore

36:47

because the only way we can pay for

36:48

this, guys, remember

36:50

>> unfunded tax liability is what a deficit

36:53

is." That's what Milton Friedman said.

36:55

All deficit spending, unfunded tax

36:58

liability. And guess how we're paying

37:00

for it? We're using the most pernitious

37:02

and most regressive form of taxation

37:05

because we're cowards. We're using

37:07

inflation. And so we're going to we're

37:09

going to blow out your bank account. You

37:11

think you got $1,000 in your account. It

37:13

only has $750 worth of purchasing power

37:17

cuz that's our way of monetizing our

37:19

debt. And that's a problem. And that's

37:22

one of the reasons why I am long gold

37:24

and one of the reasons why I'm long

37:25

Bitcoin because I do think that these

37:27

will be part of the as we reinvent

37:30

ourselves once again, they will be part

37:32

of the answer uh to the way the monetary

37:36

system works in the future. This was a

37:38

missed opportunity and it was all

37:39

performative. Performative. Anyway,

37:41

let's go on a quick break. We come back,

37:43

the pros and cons of Trump accounts.

37:46

>> Support for the show comes from

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38:50

Anthony, we're back. Speaking of trying

38:52

to make money for American citizens,

38:53

Trump accounts, which I hope will the

38:55

name will be changed after he leaves,

38:56

and new investment accounts for children

38:58

have officially launched. Trump marked

39:00

the occasion by ringing the bell to open

39:01

the markets from the Oval Office on

39:03

Monday morning. 6 million Trump accounts

39:05

have already been open for children

39:06

under 18, according to Treasury

39:08

Department. A fraction of eligible kids.

39:11

That's a small amount, actually. Babies

39:12

born during Trump's term between 2025

39:15

and 2028 will receive a $1,000 deposit

39:18

of seed money in these accounts. The

39:20

Social Security Administration is

39:21

introducing a process uh for parents to

39:23

enroll their babies uh in these Trump

39:26

accounts at the hospital. They register

39:28

as they register for social security

39:29

numbers. We've seen a number of

39:30

individual and corporate donors to these

39:32

accounts, including Michael Dell and as

39:34

you mentioned, Ray Dallio. The latest is

39:36

SpaceX President Gwyn Shotwell, who just

39:38

announced she's donating company stock.

39:40

Um, what do you think about these

39:42

accounts? I'm not necessarily against

39:44

them. I don't I think it's I I just I

39:47

feel like grift will happen because

39:49

Trump's involved with it. Um, and at the

39:52

same time, I feel like maybe we should

39:54

just have, you know, child care. Maybe

39:56

we should just have healthcare. maybe

39:58

she would just have these kind of things

40:00

that are that cost people. I don't mind

40:02

forced savings which essentially this is

40:05

and I have accounts for my own kids for

40:07

college and things like that but and

40:09

everyone should be able to avail

40:11

themselves to them in a tax-free basis.

40:13

So, and at the same time relying on the

40:16

stock market's problematic from my

40:18

perspective. But go ahead. Let's hear.

40:20

>> Oh, I want to listen. You know, I I have

40:23

to say this one straight. For me as a

40:25

Wall Street person, I like this because

40:29

I even if it's going to be 6 million

40:31

people, that's what it looks like right

40:33

now. Uh getting these people

40:35

autoenrolled in the stock market and the

40:37

idea that they have some investment,

40:39

which means they're technically invested

40:41

in something. Uh, and it if it could

40:44

spark some aspiration, if it could spark

40:46

some interest in long-term thinking and

40:49

saving and investing, I like those

40:51

things. You know, I you know, listen,

40:54

Michael Dell, I think, gave 6 and a4

40:56

billion. I know he's a very wealthy man,

40:57

but I think it's a very generous

40:59

statement that he's trying to make. I I

41:02

don't like the Trump name on it, but of

41:04

course, anything that Trump does, he's

41:06

going to have to put his name on it.

41:07

He's trying to get his signature on your

41:09

money. He's trying to get his face and

41:11

your passport. he cannot help himself.

41:13

So, but but here's the thing I would say

41:15

about this and people should really be

41:16

concerned about this number. 40% of the

41:19

Americans own nothing in a retirement

41:21

account,

41:22

>> right?

41:22

>> And I want you to think of the pressure

41:24

on that. And so that also, we do know

41:26

this and we don't teach it in school and

41:28

perhaps we should. We know we have a lot

41:29

of financially illiterate people in the

41:32

country. And if you're listening to this

41:34

podcast and you're financially literate,

41:37

don't look down on those people. figure

41:39

out a way to educate those people

41:40

because more educated people and more

41:43

financially literate people will mean

41:45

there'll be more self- sustaining

41:47

people, okay? And there'll be people

41:49

seeking their aspirations. So, I do like

41:51

this one. Uh Trump is taking more credit

41:53

for it than than he deserves. This was

41:55

an idea that was proposed 10 years ago.

41:58

Uh lots of people blocked it. I think I

42:01

think believe it or not uh uh Vice

42:04

President Harris if she was president

42:05

would have accepted this at this point

42:07

in our culture. You're making a

42:09

different point though and I would just

42:11

say not to conjoin those. The point that

42:13

you're making which I agree with. We

42:15

need a platform of good food in the

42:17

school so the kid doesn't go to school

42:19

unhealthy or hungry. We need some

42:22

sustainable educational ideas and we

42:24

need some health care for these kids.

42:26

That's more important than putting

42:28

$1,000 in their savings. I I accept

42:30

that. But I would just say to you, Cara,

42:32

and people listening in, you got to deal

42:33

with the world the way it is, not the

42:36

way it should be and not the way we want

42:38

it to be. And so this one I like and I

42:41

would like I would like to see more

42:43

billionaires. I'd like to see more

42:45

people do this

42:46

>> giving money. So is this like although

42:48

some people feel like open AI doing it

42:50

as a way to get a bailout at some point

42:53

or you give you give him the money and

42:55

he takes credit for it and then you get

42:59

some sort of break of something else

43:01

that giving money these things gives you

43:03

something else.

43:04

>> Well, that's been the case with Donald

43:05

Trump. I we've learned that you you give

43:07

him money, you buy a documentary from

43:09

his family, you get more rocket

43:11

contracts, you you u you line up behind

43:14

him, he takes care of you. uh you know,

43:17

you've got people that have given him

43:19

money or given money to his pack and uh

43:21

Howard Butlick has written them out of

43:23

certain tariffs and has gotten them an

43:25

exemption on certain things. So, yes, we

43:28

know that there's a pay per place system

43:31

going on. And so, yeah, there's people

43:33

thinking, you know what, I'm going to

43:34

give this I'm going to get the tax cut

43:36

and Trump's got two and a half years

43:38

left. I may need a favor from him and

43:40

he's a guy that pays for play and I I

43:42

can get in there and ask for that favor

43:45

and probably will get it done. You know,

43:47

there's there's a queue of people and

43:49

I'd be very interested. I'm not an

43:51

investigative uh reporter, but I would

43:53

love somebody to work on this. There's a

43:55

queue of people that are lined up for

43:57

pardons and I know it's in the tens of

44:00

millions of dollars is being paid to get

44:04

these pardons. They're hiring lobbyists.

44:05

They're hiring attorneys. They're

44:08

they're buying I don't know fragrances

44:10

from the family or they're buying

44:11

>> all of Kelly and Conways.

44:13

>> Yeah, they're buying meme coins. I don't

44:15

know what the hell they're doing, but

44:16

I'm I'm sure there's a legion of people.

44:18

They're like, "Hey, we got a 2 and 1/2

44:20

year window. We broke a lot of laws, but

44:23

this guy could pardon my ass."

44:25

>> And and this is Trump's personality.

44:27

Rather than using the norms in the

44:29

system, he breaks the norms and then he

44:32

brags about it. And only I only I could

44:34

have gotten our player back on the

44:37

field. only I could take in billions of

44:39

dollars for myself. These other

44:41

presidents were stupid. They could have

44:43

made billions of dollars for themselves.

44:45

I'm the genius. You see what I mean? And

44:47

it it's very corruptive. And let me tell

44:49

you what it does, which pisses me off

44:51

the most, if you don't mind, because we

44:52

grew up similarly.

44:54

>> When I was a kid growing up, maybe

44:55

Richard Nixon was corrupt, but he wasn't

44:58

so corrupt that I thought the system was

45:00

broken and unfair. I looked up at the

45:02

system. I said, "All right, the guy's

45:03

probably corrupt, but you know what? If

45:05

I go to a good school and work my ass

45:06

off, I can move classes in this country.

45:09

This guy is putting a suppression on

45:13

middle and lower income people, they're

45:15

they're like, "Holy [ __ ] there's a

45:17

two-tier justice system. You're either

45:19

one of the president's crony friends or

45:21

you're not. And if you're not, you're

45:23

not going to make it, and I'm going to

45:25

do way less economically than my parents

45:29

did. And I don't have any hope, and I

45:31

don't have any chance." That's what the

45:33

corruption does in a society and that's

45:36

what pisses me off the most.

45:37

>> Yep. I would agree. I would agree. So,

45:39

we're both sort of for these things, but

45:40

it just seems like I'd love to get the

45:42

Trump name off of it. I almost signed up

45:44

for one. I almost did, but then I was

45:45

like, I have an up stock holdings. So,

45:47

last thing very briefly. Um, so Mark

45:49

Zuckerberg told Meta employees the

45:51

company's AI agents aren't advancing as

45:53

quickly as expected. Like a lot of

45:55

corporate people, Zuckerberg said Meta's

45:57

AI reorganization hasn't delivered the

45:59

results the company had hoped for,

46:00

though he expects progress over the next

46:02

3 to 6 months. In May, Meta laid off

46:04

around 8,000 employees and reassigned

46:06

about 7,000 AI focused teams. Zuckerberg

46:09

uh said this move is not as clean as it

46:11

should have been. Meta is expected to

46:13

spend as much as $145 billion on AI

46:16

infrastructure this year. Um,

46:18

everybody's a little worried about even

46:20

uh Palanteer the Palunteer even though

46:22

he said it in a crazy way was making a

46:24

lot of sense around uh the the high

46:27

price of tokens, the effectiveness, the

46:29

safety of your data, whether you want to

46:32

hand it over to these things, all signs

46:34

of possible highs of these of this

46:37

spending. Do you think how much impact

46:40

how much patience do investors have if

46:42

companies keep saying progress is slower

46:44

than hoped, including the center

46:46

companies in this?

46:46

>> Yeah. Well, I mean, you you know the

46:48

answer to that. I know the answer to

46:50

that. They have patience until bam, they

46:53

don't have patience. And this is very

46:55

reminiscent of global crossing and very

46:58

reminiscent of Cisco. And you and I are

47:00

old enough to remember web one where we

47:02

were building the infrastructure. We're

47:04

putting all the switches in. We have all

47:06

these transatlantic, transpacific

47:08

cables. We got cables coming down the uh

47:11

Persian Gulf all the way into the

47:13

straight of Hermuz. and we are going to

47:15

electrify and globalize everything and

47:18

they overspent uh and they had too much

47:20

leverage in the system as a result of wi

47:22

which like a like a real estate

47:24

speculation

47:26

uh the system got built but it collapsed

47:28

and the people that were owning the

47:29

equity and were buying the opium at that

47:32

time actually got crushed and so what

47:34

I'm fearful is also the way this stuff

47:37

is booked right because if you're you're

47:39

you're you're you're spending on the R&D

47:41

and then someone else is booking a

47:43

profit it at the same time. You know, to

47:46

me, you've artificially stimulated some

47:49

people's earnings, okay? Particularly

47:51

the data centers and things like that.

47:53

And so, I'm worried about that because

47:55

that's exactly what happened in web one.

47:57

And you and I are old enough to remember

47:59

that movie

48:00

>> and that movie ended in tears. Yeah.

48:01

That wasn't a happy Hollywood ending.

48:03

That movie,

48:03

>> then there was Google, then there was

48:04

Meta, then there was, you know.

48:06

>> Well, yeah. Well, yeah. Well, well,

48:07

that's the bet. So, now you've got your

48:08

cards. You're playing this hand. You

48:11

gota hopefully you can close your

48:12

position out before the thing blows up

48:14

and then you wait for whatever replaces

48:18

it. Right know you know listen

48:20

alista

48:22

>> ask ask jeies.

48:24

>> Yeah I

48:25

>> okay we could you you remember the

48:27

search capital group Scott and I were

48:29

reminiscing about that. remember

48:31

Internet Capital Group. Remember the

48:32

boom in Internet Capital? They named the

48:34

They named the Pat I knew it was over

48:36

when they named the Patriots Stadium the

48:38

Internet Capital Group Stadium or

48:40

whatever the holding company was. And

48:42

so, so to me, what I'm worried about

48:44

here and I think it's fair to be worried

48:48

about this is this is a great

48:51

technology. I think it'll add to

48:54

productivity. It'll boost things. The

48:56

internet certainly did that. But as we

48:59

invest, there were pockets in the

49:01

railroad industry that blew up, pockets

49:02

in telecom that blew up. And there's

49:05

going to be pockets here that blow up.

49:08

>> Do you expect to blow up? Because a lot

49:09

of economists are suddenly sounding

49:12

alarms now. It took a years before that

49:14

happened in the one you were taught,

49:16

global crossing, and everything else. It

49:17

took several years before it broke

49:20

essentially.

49:20

>> Well, you got to tell me where rates are

49:22

going. you you tell me where the rates

49:23

are going and I'll tell you where the

49:25

fuse is because if we manage to stave

49:28

off despite the economic data and the

49:30

spectre of current inflation

49:32

uh and remember we we had 100 basis

49:34

point differential on rate expectation.

49:37

So if you and I were doing this podcast

49:39

January 1, Anthony, what are you

49:41

expecting? Three 25 basis cuts this

49:44

year. What is it now? We flipped it over

49:46

to one 25 basis point hike. So that did

49:50

affect a large part of the markets. It

49:51

did affect crypto and obviously gold

49:54

also sold off as a result of that. But

49:56

if you're telling me we have a 50 basis

49:58

point 75 basis point rate increase due

50:01

to the quagmire in Iran all the

50:03

assortment of different things you're

50:06

going to you're going to shorten that

50:07

flu fuse. Somebody could say hey I'm

50:09

going to miss a bomb payment here.

50:11

Sorry. Uh I think it's very telling Cara

50:14

that Facebook which mints money and

50:18

Google that mints money I think they

50:20

combined went out to raise in bond

50:22

market activity something like $140

50:25

billion in the last 6 weeks. And so

50:28

that's telling you something.

50:30

>> They're like, "Holy [ __ ] we're spending

50:31

so much money. we better get another

50:34

hundred or so billion dollars in reserve

50:36

here to protect ourselves uh and to

50:39

create a a layer of protection on the

50:41

interest rates that we're going to be

50:42

paying.

50:43

>> We're going to be paying. So, we'll see

50:44

where that goes. Anyway, uh one more

50:46

quick break. We'll be back for wins and

50:48

fails.

50:50

>> Support for the show comes from Vanta.

50:53

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50:55

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52:57

>> Okay, Anthony, let's hear some wins and

52:58

fails. You go first.

53:00

>> Well, listen. I mean, we talked about

53:01

it. I think the win of the week is the

53:03

Trump accounts. Actually, I I don't like

53:05

to call them that, but I want Americans

53:07

to get into the saving and the investing

53:09

mindset. And certainly, if you can get

53:11

children into the saving investing

53:13

mindset, it could be a lifecher. So, I

53:15

think that's the clearest win for me.

53:18

Uh, the second clearest win, uh, which

53:21

is obscure to people, but I I I think

53:23

it's a it's meaningful is is the

53:26

birthright citizenship. And we talked a

53:28

little bit about that last week on my

53:30

show. I think that is the big message.

53:33

is sorry. You know, you pushed and

53:35

shoved us around. We are afraid of you

53:37

here at the court, but you know what? It

53:39

was a 6-3 decision and we're going to

53:42

stick with the Constitution

53:44

over the Orange Maniac. And I and I

53:47

think those are two big wins. All right.

53:48

So, losses for me are FIFA

53:51

and Sick of Fentino. I think this is a

53:53

big loss for him. And I think and I

53:55

think weirdly, you know, and sadly, uh I

53:59

think he's uh I think he's hurt the

54:01

game. And I and I think it sucks because

54:03

the World Cup to me is about

54:06

togetherness. You know, when you want to

54:07

love people and you want to love the

54:09

world. I think of the World Cup. I'm

54:11

like, "All right, look at all these

54:12

people." You know, the happiness and the

54:14

sadness is based on a sporting event.

54:16

It's not based on a war. I love the

54:18

whole environment. I love the whole

54:20

carnival of it. And I just think the

54:22

notion that this guy poisoned that, too.

54:25

It's like he won't stop at anything. So,

54:28

so, so those are the those are the wins

54:29

and those are the losses. That sort of

54:31

goes into my fail is the continued

54:34

sucking up of people like Be Bessant and

54:37

others about like yes there's plenty of

54:39

people behind me. The the the cultism is

54:42

so strange and it's so at some point

54:45

when are you going to say the emperor

54:46

has no clothes that's that kind which I

54:48

don't want to see Donald Trump naked

54:50

necessarily but um this

54:52

>> Have you ever thought about it though?

54:54

Is it ever like you're an imaginative

54:56

person? Has it ever just gone into the

54:58

brain? I have a a sense it's like an

55:00

open spam can like you just opened a

55:03

spam can and there he is. Have you

55:06

thought of it?

55:06

>> Open spam can with a penis which a bent

55:09

penis.

55:09

>> Well, you don't know it. Yeah, we

55:11

haven't confirmed or denied that. It

55:12

just could be an open spam.

55:13

>> I believe this I believe porn stars is

55:15

what I do. Um but uh I the sycopency is

55:19

just astonishing and Douglas Bergam in

55:22

particular like with the whole thing

55:23

around the reflecting pool. I mean,

55:25

first of all, everything like that fair.

55:27

Nobody was there and they were

55:29

pretending they were there. That was

55:30

hysterical. But he was going on and on

55:32

about these cuts and without any proof.

55:34

And then when the why are you meeting

55:36

people, why don't you just accept this?

55:38

And they're like cuz you're a liar, Doug

55:40

Bergam. Like to me, he seemed to be a

55:43

even though he's an obvious suckup.

55:45

Obvious suckup, but that the level of

55:47

suckupery is really and I'm like, you're

55:50

not stupid and you're sucking up. And

55:51

that to me was um really a a a fail. I

55:56

thought that I just can't believe it's

55:58

going to continue. I just don't know

55:59

when it's going to stop. And I'm sort of

56:00

waiting for the moment where somebody

56:02

points to him and says, "You're naked."

56:04

essentially. Um my win um uh is uh is ah

56:09

this is going to seem strange. So over

56:11

the holiday I went to see Supergirl

56:12

because everyone didn't want to see it,

56:14

right? Because it's you know it's this

56:15

big disaster for Warner um and people

56:18

aren't going to see it. And I have to

56:19

tell you it's a pretty good movie. This

56:21

is a pretty good movie. Uh I know it's

56:23

not going to win. I see the numbers. Uh

56:25

you I could see why it would be hard to

56:27

get a man to go to it. Um it's pretty um

56:30

woman focused. There's there's a sex

56:32

trafficking um thematic. It's dark. Um

56:35

but I do think this actor who's in it,

56:38

Millie uh I think it's Alco uh is

56:40

amazing. Was amazing. And I think it's a

56:42

lovely I think it's a good it's a really

56:44

solid it wouldn't there's been some bad

56:47

uh movies in this genre in the superhero

56:49

genre and lots of bad ones. This is not

56:52

one of them and I'm sorry it's not doing

56:53

better. I bet it has a life outside of

56:56

this time. Later it'll become a cult

56:58

favorite I think cuz it's really

57:00

interesting and strange.

57:02

>> I'll definitely go see. Look, I'm a big

57:04

Superman afficionado and I love

57:05

>> Yeah, she's really interesting. It's

57:07

dark. It's but it's dark and I can see

57:08

why people wouldn't necessarily go to

57:10

it. So I get it. I get it. I get it.

57:12

Anyway, and of course, the biggest win

57:13

of the week is Taylor Swift.

57:15

Congratulations with you and Travis

57:17

getting married. It's just

57:18

>> it's nice. I mean,

57:19

>> two crazy kids. You two crazy kids. I

57:21

hope for the best. I hope you can make

57:23

it both of you.

57:23

>> It's great. But, you know, if guys, I

57:26

would like to if you're probably not

57:27

going to have another wedding, but if

57:28

there's an anniversary party, Cara and I

57:30

would like to be invited because

57:32

>> we will see.

57:33

>> You may have invited me to this, but I

57:35

may have just missed it in the mail, but

57:36

I you know, I would like to be

57:38

>> agree. We will be there for you. Anyway,

57:40

uh Anthony, I really appreciate it. We

57:42

just for people know we want to hear

57:43

from you. Send us your questions about

57:45

business tech or whatever's on your

57:46

mind. Go to nymag.com/pivot.

57:48

Submit a question for the show or call

57:50

85551 pivot. Okay, that is the show.

57:53

Thank you, Anthony. As always, people

57:54

can check out your book, All the Wrong

57:56

Moves this Fall. It's a it's a it's a

57:59

really terrific book. Thank you for

58:00

listening to Pivot. Be sure to like and

58:02

subscribe to our YouTube channel. We'll

58:04

be back on Friday again. Anthony, thank

58:05

you so much.

58:07

>> It's always great to be on with you,

58:08

Cara. Thank you, guys.

Interactive Summary

The podcast "Pivot" with guest Anthony Scaramucci covers a range of current events, primarily focusing on political and financial criticisms of Donald Trump. They discuss Trump's controversial intervention in the World Cup, portraying it as a corrupt act for self-promotion. The conversation also delves into Trump's memecoin venture, highlighting how he profited significantly while many investors lost substantial amounts, which they argue tarnished the crypto industry and hindered regulation. Scaramucci critiques Trump's political tactics, such as labeling opponents as communists, and offers a harsh assessment of Tucker Carlson's character. The episode touches on the failure of the Department of Government Efficiency (Doge) and the new "Trump Accounts" for children, which, despite concerns about Trump's branding, are viewed as a positive step for financial literacy. Finally, they draw parallels between current massive AI investments and past tech bubbles, fearing a similar collapse, before sharing their weekly "wins and fails," including the success of Taylor Swift and a surprisingly good "Supergirl" movie.

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