Mark Cuban: Love/Hate Relationship with Trump, Why He's Backing Kamala Harris
3376 segments
all right everybody Welcome to the
number one podcast in the world here we
are on the all-in podcast we have a
fifth bestie with us today joining David
freeberg choth P hoaa David Saks and
myself is the one and the only Mark
cubin how you doing buddy what's up guys
I'm doing great thanks for having me on
of course of course and you here thank
you I've been practicing my virtue
signaling so I'm ready ready to go all
right go I think we're going to have
Twice The Virtue signaling as normal in
this episode
promise you I don't virtue signal I'll
say you to
anybody let your winners
ride rman
David and instead we open sources to the
fans and they've just G
[Music]
crazy you have gotten very vocal about
politics during this cycle uhhuh and you
seem to be I don't know if it's official
you know speaking on half of the comma
ticket so why why are you this active
what what is the um reason that you've
decided to get this active during this
election I'm proud to be an
American that's exactly why I mean you
know we all make choices and think
what's best for the country and show our
patriotism in different ways and you
know I'm not a Democrat I'm not a
republican I'm an independent through
and through oh my God like jcal he's an
independent
too is it that all the Democrats are
afraid to call themselves Democrats well
look I've said this many many times if
if it wasn't Donald Trump running it was
a non-m Maga candidate particularly if
it was Joe Biden still I'd vote
Republican I've voted Republican before
if it was a non-m magaga candidate
versus KLA Harris it would be you know
let's look at the policies let's look at
the character of the people involved and
let's make a decision it's it's just
Donald Trump is not a republican
Republicans are Donald Trump you know
the Republican party is now the family
business for Donald Trump and to me I
just think KLA Harris is a better choice
for the
country on a percentage basis how often
have you voted just a level set Democrat
versus Republican would you say out of
10 elections presidential probably I
voted for George W twice then I voted
for um Obama twice and then I voted for
um Clinton and Biden but before that I
voted for um Ros proo Jr my first vote
was for a guy named um something um John
Anderson so I mean I literally worked on
Ros Pro Jr's campaign way back when tell
us about that that's fascinating he got
19% of the vote as an independent
candidate yeah I was living out in LA
and this was 92 and this is when
computers were relatively new I sold my
company and I was taking acting classes
and just living by Manhattan Beach and
just loving life and you know being from
Texas I knew people there and they were
like look we need somebody who
understands PCS and computers and
software can you help us and I was like
definitely um I mean I wasn't to the
point where I was involved in his
decisions but I actually had met him um
my first company was a company called
micr Solutions where we did systems
Integrations local and white area
network I wrote software for you know
single multi-user app white area Network
apps and we literally helped Pro systems
um get into local and wide area
networking and so you know one of my
favorite stories from back then is you
know I'm terrified I'm a 26y old kid I'm
in Dallas I'm going into Pro systems I
get to meet Ross pero Senor the man
right and I'm walking through him and
he's got the original the the model for
the um no he had the original Magna
Carta one of like the 13 Magna cartas
and he had the original um model for the
eima um statue right with the flag up
and everything and I'm just terrified
I'm going to trip and just wipe out
American history and I walk up to him
and I said hi Mr
Cuban and reverse that yeah you know I
was so nervous um and he like had made
fun of it and you know got to be friends
and did a lot of business helped those
guys a lot I made them a lot of money
they made me a lot of money did you have
any more interactions with them when you
were on the campaign did you get a sense
of no did not no I was just a little
plea just trying to do little pley stuff
in La I didn't know that you took acting
classes that's interesting did you want
to be an actor or before a businessman
or what no no no this was after I sold
micro Solutions I bought a lifetime pass
on American Airlines mov to La got a
place right in Manhattan Beach um right
on the beach get two flight attendants
as roommates and I was just loving life
and I was like how else can I meet women
I'm gonna take acting classes and it was
like one of the best things I've one of
the best things I've ever done because
you know being a business guy you it's
always right brain right brain right
brain and acting it's like don't think
just be don't think just be just let it
go so it was a totally different
experience and that's why you see me do
all these cameos and stuff um because I
like to do it because it's the one place
where you just have to completely let go
and it's a completely different approach
to life so you know little backstory
yeah yeah you got a good character arc
on Entourage I think that was probably
the best one seven episodes plus the
movie yeah yeah yeah yeah that that was
uh pretty memorable so uh saak lead us
off here I don't know if you've been
following Mark cubin on social media at
all or if you guys interact I can't
resist asking so is your um is your
acting as a surrogate for kamla is that
acting too or
when they go Li when they go low we go
high no no at no obviously I truly
believe in it and look it's always
relative it's always relative to the
other candidate um and so obviously as
you guys know I'm not a big fan of
Donald Trump I gave a shot eight years
ago didn't work out okay wait wait could
we can we get into this because I you
obviously have like a LoveHate
relationship with Trump going back 20
something years so yeah let's just go
through the the um the timeline here
here I'm just all I don't hate the guy
at all if he was running for president
and we all got together and you know
just shot the like we are now he's
a blast he's fun to talk to you know
he's got Charisma he's got personality
he's easy to like I mean you know he's
used to SM smoing he's a he's one of the
world's best schmoozers and so he's easy
to get along with it's not personal but
that doesn't mean like you guys with
each other it doesn't mean you can't you
know as different things happen over
time you can't go back and forth and you
know he did this same thing so the whole
history of it was back um right when um
we went public at broadcast.com no right
after we announced the sale in 2000 um
was it 2000 yeah after we announced the
sale in January 2000 he threw a Super
Bowl party at marago and one of my
buddies um who um knew him invited me
and I was like cool I'll go Mar lagogo I
hadn't seen it Donald Trump maybe I'll
meet him and so you know you guys have
seen marago and beautiful po beautiful
view there's a veranda up there and he
had like a bunch of um Hooters and um
what's the suntan lotion that always had
girls whatever oh Tropicana Tropic no
but Sun Tropic Sun one of those right
and so they were all dressed in Orange
and they were walking around and it was
just like a big deal and it was funny as
hell and so not that that's a bad thing
it was actually kind of entertaining and
um
so he comes up to me and I'm with the um
VP of Visa my buddy and Jerry Yang I
think it was maybe it wasn't Jerry but
um co-founder of Yahoo yeah co-founder
of Yahoo and um he was like Hey guys
nice to meet you and I'm like hey I'm
Mark Donald da d da and just you know
not to be mean just in a flipping way he
was like Hey someday you'll be able to
sit up there with the rich people
pointing to the veranda and walked away
and I'm like okay fine you know ever and
so um then um not long after that
through my friend he got back in touch
with me and you know this is the early
days of the internet early 2000s and um
still I guess still 2000 and um I get an
invitation to go to um his office in
Trump Towers and I'm like this is cool
of course and you know he wants to talk
to me about business and I'm like you
know what Donald I'll help you all I can
he you know he's getting donaldtrump.com
and he wants to sell chachis a
merchandise I guess some things never
change um and so you know so I'm in
there trying to tell them about what you
can and can't sell online and what works
and that was all fine and good met aanka
it was all really cool but the one thing
that left with me if you've ever been or
seen pictures of his office every inch
of his office is covered with pictures
of him every single inch of the office
meeting celebrities right stuff like
that yeah yeah or you know whatever um
covers he was on and just whatever right
and I just remember walking through
there and afterwards you know it was it
was a nice meeting and we had some
follow-up calls and everything but it
never went anywhere in terms of the
online stuff but I just remember
thinking to myself if I ever become you
know visible or famous you know to that
level don't let me get so caught up in
just having pictures of myself and you
know I'd had conversations with my
buddies about it just like you know you
guys would and so then in
2004 um I got a chance to do a show
called the benefactor ABC called me and
said okay wait let's show this we have
this uh this was got tweeted so so so
this is after we got you did Oppo
research saxs you got Oppo research this
is on Twitter this all on people Tred to
with me on on Twitter they so so anyway
so when I got the gig um he was like
congratulations good luck and everything
I was like thank you and whatever and
then when I got cancelled he sent me
that letter basically saying you suck
and so well he was he was dancing on the
grave of your show but so you're saying
you didn't have beef with him before
that letter no yeah it was not a beef
but it was just like that's what it was
and so it was just like okay whatever
and um okay but then when he ran in 2016
you were supportive can we show that
let's show the there's more between
there's more in between there's a lot
more in between okay okay so that's 2004
2007 um Eric reaches out to me and goes
hey there's no hard feelings with my dad
or anything I'm like no I don't care he
goes we're working with um these Russian
MMA fighters this guy named Fedor emili
Yenko who was like one of the best ever
at that point in time and Josh Barrett
and kind of the irony of all this is we
were competing with Dana Dana White and
the UFC in some respects because a lot
of Fighters felt like they weren't
getting paid enough there was no Health
Care there was no nothing right and so I
had a TV network we had started the
first all highdefinition TV network
called hdnet back in 2000 back when TVs
cost 20 ,000 and everybody thought we
were idiots but slowly but surely it was
taking off and so they came to me and
said we like to put um we're partnering
with these guys who are putting on this
MMA fight um with Fedor and Josh Barrett
and some other folks and we'd like to
broadcast it on on hdnet because we had
a show called um this week in MMA so we
were promoting we had fights that we
were already putting on every Friday
night so it actually was a good fit so
you'll see pictures of me sitting with
them and actually and I couldn't find it
I so pissed because I was going to with
him some more um what he said in the you
know during the time we were sitting at
that Podium was everything Mark hban
touches turns to gold and so I was like
that would have been so great to to have
out there and so and anyway so we were
friends again and so it's 2007 and we're
friends and nothing happens between then
until whenever he started going crazy on
Twitter and um all the Obama stuff and
everything and the birth certificate and
the birth birth stuff so he's on Twitter
and he started with me like saying that
so let me just preface this by saying I
golfed once in my life in 1989 and I
hated it so bad I was throwing clubs
because I'm one of those really super
competitive guys I'm like never again
but I went and worked um I auctioned off
myself to be a caddy at a golf
tournament that he also was at but he
starts tweeting that I saw Mark cubin
and he swings like your girl and this
and that it swings like your girl like
nobody saw me swing because I don't Golf
and so I started back with him and so we
went back and forth on Twitter for years
for years and then he comes down to um
escalator in 2015 and I'm like all right
this guy's got no chance to win um but I
think it's great because I don't like
traditional politicians I'm not you know
there's nothing about me that thinks
that the way we do politics or the way
the government is run is a good thing
not at all I mean I my heart is
libertarian but I realize you can't Li
Arians are not problem solvers they're
ideologues you know like you look at
Rand Paul everything's only one way he
doesn't try to solve problems so anyways
um I digress so he comes down the I'm
like that's cool right he doesn't have a
chance to win but um I'm like he's the
best thing ever you know you know how
you know I forget where I was but I was
like he's the best thing that ever
happened to politics he's not a
politician he's not going to be a stepf
candidate I may not agree with his
positions but you know just the fact
that he's not a politician is a good
thing and so from there he called me and
we talked a lot probably 10 to 15 times
on the phone he would call me you know
and he tweeted one time mark cubin would
try to call I never had a number there
was no way for me to call him right he
would you know and you know the way he
emails he refuses to send an email
because he doesn't want any proof of
anything he's done right and so you know
he would write it up like you had one of
those pictures so bring up the one on
the CNN where he says what happened so
right there CNN nasty what happened see
see what he does there his email he
writes on a piece of paper and then
scans it and sends it as an image via
email and so what happened just so just
so the audience can understand so the
the email is from you to him saying tell
the boss I said congrats on his sweep
and then and then his assistant printed
it out and then wrote back to you and
like this is one of many emails that we
went back and forth on this there but
just to be just as a weird point he
literally prints out his emails writes
on them has them scanned in and sent as
an image to you Mark wow saw you on CNN
nasty how did he send this to you he he
mailed this to you or or what he mailed
it an image he doesn't use email I mean
the guy emailed it back right so he
writes on the piece system prints it out
he reads it he writes on it she scans it
she scans the sends the image to me now
the big question there you can't just
let that slide why do you think he does
that he's just a different generation at
least that's my interpretation no
absolutely not nope I'm with Mark he
don't want Paper Trails or anything he's
doing Shady stuff man I I think you're
reaching there obviously there's a paper
trail if he writes hold on if he writes
it on a piece of paper hold on if I
write right now on a Post-It notes scan
an email to you there's a paper trail no
no you can't search for it and it's not
his you know yes to your point he I'm
just telling you he won't send emails at
all he doesn't want any assistant
created an electronic record what's the
difference you have to ask him on that
but he said generational thing this is
my interpretation I think it's a
generation David he has literally said
it out loud that he doesn't want a paper
trip but anyway so let's go back so so
now we're talking back and forth and
we're having legit conversations I
remember asking him you know you realize
as president you're going to have to
make decisions where people can die and
he really wouldn't respond yeah I get it
I get it I'm like Donald you don't have
a ground game what are you g to do how
are you going to get through this beat
him yeah I got the evangelicals doing
all that I'm not worried about it I'm
like Donald you know and we would I
would bring up things about there was
this one thing where um
the FBI used used this device to break
into an iPhone and there was a big thing
about you know privacy and I tried to
engage him on a conversation on it and
it's just like I don't know I you know
just didn't want to talk about that at
all and that would that would happen
multiple times where I would try to
engage in conversations about some some
type of policy and there just it never
got anywhere and there was never a
conversation and I said to him I'm say
there's another email where I said
Donald at some point you have to learn
these things you literally have to learn
these things in order to be president
and he didn't respond to that and that's
when I went on CNN and I said basically
look I like the guy but he he's not
learning he doesn't make any effort to
learn anything and I think that can
carries on till this day because you
can't look at things he says and say
that's really an in-depth response or
that's a nuanced response and so that's
what I said on CNN and that led to the
um image that you you guys posted so
that was the falling out that was the
falling out yeah or maybe but it wasn't
a complete fall if you want me to
continue so it's not a complete falling
out because okay after that he gets
elected I send him a congratulatory
message um and I say congrats you know
um you know if I can ever help I'm happy
to and so when they were starting to
look at replacing the ACA I was starting
to get into Healthcare and and being in
excited about Healthcare and so they
invited me to the White House and I
spoke to Jared I spoke to this woman
named Brooke Rollins I think her name is
um and I spoke to a whole group of
people I went to CMS and I spoke to the
head of the agency I spoke to the head
of CMS all talking about this thing I
created called the 10 plan which is a
means tested ability to support anyways
um and so they brought me back in and
then when the pandemic hit I sent them
some ideas on you know backstopping um
bank accounts and credit card accounts
so everybody doesn't just default and he
had manin call me and then when they had
with the pandemic he connected we with
with Peter Navaro and I worked with him
and actually found a company here in
actually outside of Fort Worth that um I
put together with them and I helped that
company increase their output and Peter
Navaro worked with them closely and we
you know really made a dent in all the
PPE issues and you know he invited me to
the White House and then I went to the
White House one time went into the
overal office and there's pictures of me
talking and again I tried to explain the
healthc care stuff he just wasn't having
any type of in-depth conversation he
wanted to tell me about how much money
he saved on um on from Boeing you know
how many billions and this and that and
then it was a short conversation and
then I was leaving he goes look are you
still on that show and he goes I'm like
yeah Shark Tank he goes yeah that's
Baron's favorite show and then as I'm
leaving further he goes wait a minute I
really like that suit so you know and
and you know he's called me since um not
since he left the White House but you
know in the you know later in his tenure
at the White House and invited me to
dinner I mean and so it's not like we
left as foes and it's not like I don't
like him I just don't think he's the
best person to be president I don't
think he was a good let's just TR test
that what how would you think about the
four years that he was president in
hindsight what what would you say was
done well what would you say was done
poorly just those two things I think the
way he dealt with the zit isn't the
right word just the vibe of the country
was really really really bad I think the
hate that he conveyed I think the fact
that what he tweeted negatively you know
so companies didn't know what was coming
next you know he tweeted negatively
about me he tweeted negatively about
other people I thought that was a real
bad thing when the BLM um protest
happened and turned into riots when they
went into Minnesota he was like when the
Looting when the Looting starts the
shooting starts who the says that as a
president and so we had more people die
during riots during his term than than
Biden by a long shot and I think he
misrepresented where he stood in terms
of being anti-war if you go back to
2019 um and look at the war in Yemen um
there were hundreds at least 100,00
people plus died and there was a
bipartisan resolution to say we're not
selling any more to the Saudis we're not
selling any more weapons to the Saudis
and a bipartisan resolution including
Mark Meadows and ran Paul and others
said you know passed it and it went to
his desk and he said we're still going
to sell these um Munitions and this um
these weapons to Saudi Arabia even
though these people continue to die so
when we talk about it's you know it's
not all that much different than Ukraine
and in some respects only Saudi Arabia
got the Glen Gary leads and Ukraine got
our old stuff and we replaced it and so
when he Tod comes out now and says look
you know I'm against all wars were no
Wars that's right the
mainstream media well okay so there's
two things there so just just on the
2020 riots I don't know how you blame
Trump for the BLM Riots of Summer of I
blame him for the riots what I said was
how he dealt with it I get you don't
like the Mean Tweets I get I totally get
me twe no don't diminish it David don't
diminish it as just mean tweets people
pay attention to what happens and when
you are have people whose lives are I
think it's far worse to actually have
riots going on in the streets that's
what needed to be controlled how many
people he wanted to hold on he wanted to
send in the National Guard to Minnesota
it was actually Waltz who rejected the
National Guard he had no problem and
there were plenty of ties between oh
there were plenty of ties between
Democratic activists and the BLM
organizers of those riots Time Magazine
did story on that I'm not saying he's at
fault that the riots happened I just
yeah but I can't believe they using the
the riots throughout the summer of 2020
as an argument against Trump when it was
the left no I think what he's saying is
the leadership that he shows is of low
moral character
did he do anything right Mark well I'm
not done with the wrong stuff okay but
wait there's more right let's go back to
the the the foreign policy for a second
Trump is correct that he did not start
any new wars during his presidency you
agree with that right
um that no new war started or he didn't
start any um he didn't start any he was
like the first president in 20 years not
to start a new war well he inherited
some for sure and he inherited Syria and
Afghanistan and he wanted to get out and
the generals didn't let him and there
wasn't really a war that happened in
turkey and then when we got shut down um
he didn't know there wasn't really a war
I'll agree with that he didn't his
argument is that he did not start any
new Wars has Biden started Edy well I
would argue that Biden provoked the
proxy war in Ukraine yes I mean you can
disagree whether he provoked or not but
there's no question the US has been
deeply involved in a war with Russia in
Ukraine and I'm saying what I'm saying
is the correlat that the analogy to that
is what happened in yen and that we had
a chance to get out of Yemen and reduce
the deaths in Yemen much like they're
talking about getting us out of the out
of Ukraine now and we had the
opportunity to stop selling um weapons
but he looked the best I could tell he
looked at it as a sales opportunity to
sell to MBS all these weapons and he
thought that was a positive so a lot of
people died and we're still in there
today so it's not he had a chance to get
us out and he did not so I'm not arguing
that he's perfect and Biden's perfect
and it's tit for T it just is what it is
I'm just saying State making this
statement of fact you know and that's it
yeah okay well look we did we did
support we did support the Saudis in
their war with with with Yemen so wait
let me give you the one last thing and
then we'll yeah keep going so then I'll
go to some positives so the the next
thing you can actually Trace that y War
I I can't say you actually I'm I'm a
little bit hyperbole but I can trace
that from that Yan War to the start of
inflation and here's how I explain that
and so in Yen he did a deal with for his
boy in Saudi Arabia and sent them all
the weapons in 2019 fast forward one
year and you're in May uh no AP April
let's say of
2020 and you're looking at the price of
gas the lowest it's ever been the price
of oil just collapsing at one point
people were paying you to take their oil
and so there was an opportunity he made
a decision because there was a situ
ation that came up the oil companies
came in and said this price of oil being
so low is killing us right we're losing
a lot of money we anticipate losing more
because with the pandemic now starting
demand is dropping like a rock and so he
and that was coming from the oil
companies and so what he did he said
okay MBS owes me a favor over in Saudi
Arabia that's the connection and Putin's
my boy I'm going to go to them and ask
them to reduce
production now what happens to the price
of gas when the largest producers of um
largest producers of oil and
energy decrease their
production the price starts going up and
up and up and so you can track the
increase in the price of gas and how
that impacted the price of goods the
entire time that the production from the
10% reduction until the they increase it
like 300,000 barrels a day for two years
what is your argument here you're saying
that Som Trump caused the inflation yes
and I'm I'm explaining to you I'm again
the mainstream media first all by the
way the the war in Yemen started on
March 26 2015 according to chat GPT
which is under Obama no I started under
Obama that's fine but he had a chance he
was asked to end it by Congress he was
at he we were sending he was selling
$660 billion I I don't know the number I
I can't remember exactly in weapons to
Saudi Arabia and he there was how did
the fact that we had 9% inflation in
2022 so two years after Trump office
glad how in the world is Trump
responsible for that and not Biden Harr
so glad you asked that because the
mainstream media never talks about this
stuff and so she a little dig there so
Trump goes in and says we're going to
cut the production by 10% demand is
still relatively low but you know in
April May June as people start venturing
outside their house until the end of
2020 the end of his term that there's an
increase in demand but the increase in
demand the increase in production
doesn't match the increase in demand
they limited as part of this deal that
Trump put together between um um Russia
and um Saudi Arabia and um that led to
other people in OPEC plus um
participating they only increased the
the production of oil by 300,000 barrels
a day which didn't keep up with the
amount of demand that was happening that
started increasing the price of gas that
price of gas continued to increase for
the two years this program was in place
this program wasn't like let's just cut
it for 60 days and go back at it it
wasn't let's just do this for 90 days
let's just do this during the Trump
Administration no no no no no this deal
went before they got it took two years
before they got back to pre-pandemic
levels of produ ction and so listen to
what Trump says about drill baby drill
why does he say drill baby drill will
lead to lower costs because oil and
energy costs are part of everything and
you know what matches up perfectly what
matches up perfectly is that 99.1% in
2022 and the day that that agreement
ended where MBS and Russia limited
production that agreement ended it like
this if you did your little V diagram
that like and increase production
decrease production
bam that is the answer to your question
so just to summarize what you the
argument that you don't like about him
is you got to know him like many people
do you worked with him on projects and
like Pence bar Matas Tillerson Bill bar
and Mike Cohen and the mooch Omarosa you
realized this person is out for
themselves they don't care about the
people they work with and you fell out
of friendship with him or whatever
there's a long list of people who don't
who worked with him who think he's an
idiot and don't like him now you're on
that list yeah I mean I don't think he's
an idiot I'm not saying that's my
position I'm just summarizing it look I
don't think he's an ID not your position
no I haven't work with him he's one of
the greatest salespeople ever he's one
of the greatest you know um motivators
in terms of crowd motivation ever but
can Ro J he's Roy con Jr that is who he
is if you read books about Cohen
everything Roy Cohen says to do tracing
back to the McCarthy hearings in 54
everything Ro Roy Cohen says to do that
is exactly what Donald Trump does I just
want I just want to paint this thing and
then i' I'd like to hear the glass half
full version to the extent you have one
but basically I just I just want to
understand so my understanding was in
2020 what happened was not that Saudi
Arabia and Russia were cooperating to
cut prices but they got into a fight
because it wasn't really it wasn't
really Saudi but it was OPEC which
includes us and which versus Russia and
we initiated against them which they
counteracted a price War they they
initiate against so Saudi Arabia
initiated against Russia but what but
what I'm so what I'm trying to
understand is there's a war in Yemen
right we don't stop the armaments of
Saudi and I guess what you're saying is
that then
triggered an OPEC no no what sayings o
Trump
won MBS owed Trump one so MBS starts the
price war with Russia one year later and
the oil companies come to Donald and say
look we're getting destroyed demand is
dropping they've increased because of
this price war between um Saudi Arabia
and Russia Saudi Arabia decides to take
it to Putin and increases their
production significantly so in order to
keep their revenues up Russia's got to
do the same thing meanwhile all the all
the demand is dropping because of the
pandemic and so Donald gets asked by the
insurance comp the um oil companies to
go to MBS and to Putin and say we need
to stop this price War we need to reduce
production and to his credit if if you
think that's a positive to Trump's
credit he did it and so by reducing
production over a plan of two years and
you can go look at the production
numbers right and when that sto by doing
that that increased the price of gas the
price of oil the price of energy and
that was bad for American consumers who
utilize gas who you know paid pay for
gas for their cars really bad for him
but he decided to work with his Oil
Company buddies and protect them you can
say that's a good decision or bad
decision maybe it's strategic we really
he really felt they could go out of
business and he wasn't willing to give
them money to help them but the bottom
line was that that matches up exactly to
that 99.1% that David Sachs mentions it
also menes up matches up to okay does he
fully support the oil companies over the
price of gas and will that influence
what he will do as president again so
when he says I'll just get out of
Ukraine depends on who's making the
money and where it is when he says I'm
going to get people to drill baby drill
okay well we already learned a lesson
wait wait wait wait sorry okay so look
this is very hard to hold on a second
this is very hard to fact check in real
time because I've never heard this
Theory
before have a theory on the Pod
lete has a question yet so let mey the
point the point is that you know this is
like totally novel I don't even think
I've heard you make this theory on X
before I was waiting okay you're
Dro hasn't been able to get involved
let's have free going to let him
basically site this nonsense and I don't
get to interrogate it a little nonsense
David you no no but I just wanted to
include freeberg in the discussion 40
minutes ask question let me ask question
go chat GPT go Google it go look it up
however you want okay what about the
fact that Biden's first day in office he
cancels the Keystone Pipeline and a
bunch of leases he makes it harder to
drill in the United States so he reduces
the ability for for domestic producers
to produce you don't think that that
would have an impact yeah but it wasn't
on the price it wasn't on the price of
gas because it's the price of gas is a
global phenomenon right the price of oil
rather is a global phenomenon it's we we
are the largest producer of energy in
the world but we're still only about
133% I think it is don't quote me on
that but that's that's a range and so
the other 87% has more of an impact and
even to that there was still an
unlimited amount of drilling available
on public lands and leases available
that weren't fully used now that said I
think Biden did mistakes did make
mistakes wait okay guys hold on let
let's just finish one thing before the
other I would just like an answer of
what is the good and the bad of Donald
Trump and then what I was gonna ask you
is what was the good and the bad of
Biden I just want
those ansers guys just just just give me
one sec can I just ask make one comment
I've been here for like 40 minutes um
yeah trying to get you in I want to
respond to the inflation point mark I
you know I just shared two images first
was the US crude oil production chart
and more than half of this oil is
exported so you can see the the
reduction in production but the the
domestic oil
production
capacity remained High relative to our
consumption so us consumption if oil was
the biggest driver it really would have
affected the profits of the exporting
companies not necessarily the cost of
energy
domestically I will however point out
that the federal balance sheet the
Federal Reserves balance sheet swelled
during from4 trillion to8
trillion as we all know there was
significant fiscal stimulus meaning the
federal the federal government bought
the only Char David I didn't say it was
the only cause I didn't say it exclusive
CA well I would argue that flooding the
world with dollars which is what the
Federal Reserve did because they bought
up all the bonds as the federal
government started to issue money in
lots of different ways cause the supply
of dollars to go up which causes the
cost of anything that's dollar
denominated to grow up and I think many
economists would argue and make the case
that the fiscal policy and the monetary
policy of the federal government and the
Federal Reserve is largely to account
and I'm not going to use the word blame
but to account for the inflation we saw
in the cost of everything from energy to
production to labor to assets and so
they're not mutually exclusive they're
not mutually exclusive they're not but
there was also sign ific as we can all
acknowledge massive in a dynamical
system Global Supply chains are a
dynamical system stuff is made in one
place move to another place when one
thing breaks or it slows down it all
breaks and we had a massive shortfall
ability to move Goods around the world
and that was the biggest driver of the
inflationary effects that we saw in the
I agree 100% but even if you go back to
those the first two charts you put up it
matches up with exactly what I said
production went down demand went up and
the net result was that price of gas
went up and price of gas is in
everything is it the only but no but
production went down in everything Not
Just Energy but everything and not
because of energy but because of a lot
of other reasons and then and then and
then we had a whiplash problem where we
had over demand relative to the Natural
and none of the production systems could
keep up with demand because of the fisal
stimulus I agree 100% with you all I'm
saying you can try trace it back to
maybe it's 1% of the price maybe it's 3%
of the price maybe whatever the
percentage is I'm not saying it's
exclusive but you can trace it back to
the decision being made to support the
energy companies and say we are going to
reduce production rather than just
letting the market play out and saying
we'll let gas prices stay as low as they
are based off of supply and demand now
are do I agree with you that supply
chain disruption transitory yes of
course and fiscal and monetary policy
like stimulating the world economy by
pouring a t of money out that's never
happened in history right for sure 100%
the question is in propor you think
Larry Summers was wrong when in q1 the
first quarter of the Biden Harris
Administration Larry Summers warned that
if you pass another two trillion of
covid stimulus like they were planning
to do that could set off inflation that
we were on the brink he he said that he
did make that declaration against his
own party Mark and he said this is the
wrong thing as a Democrat he said this
is the wrong thing to do and they went
forward with what they plan to do for
various reasons some would argue
political some would argue that they
thought it was the right thing to do and
the effect was precisely as Larry had
predicted yeah and KLA Harris cast the
tiebreaking vote for that inflation
explosion act otherwise was the American
otherwise known as the American Rescue
plan actually I agree with I agree with
free B really the cause of this massive
20% inflation we've had over bid four
years is a secret deal between Trump and
NBS and like Putin's in there somewhere
you can dismiss it all you want David
just look at the data and look at the
numbers and they match up now to free
BG's point the free BG's point is it the
only thing that caused inflation of
course not when you spend too much money
when you inflate the economy when you
have Supply train chain disruption all
those things contribute but we're also
not having the conversation to say okay
how much of the supply chain disruption
contributed to inflation was it % of
that 20% was it 5% was it 7% was it 1%
we don't know it's impossible it's all
the supp the supply hold on the supply
chain was constrained during covid and
it was healing it was getting better and
then they pumped all the stimulus and
everyone got these s level let me Mark
has an opinion let's leave the opinion
I'm just really curious I just want the
high level report card on the last two
presidence what is the high level report
card Mark to put a cap on this just for
the audience here is our national debt
over the two presidencies the two terms
and as you can see with the taking out
the bump for covid it's pretty much
they're both wild Spenders I think we
can all agree they both are spending too
much money and we need to have more
fiscal discipline we all agree on that
now to Cham out's point is steel man
anything you like about the Trump
presidency and then we'll go to commo I
mean I think there was good elements of
the tax cut I think he went too far but
I think they needed to come down from
35% yeah what whatever the corporate
rate 35% I think was corporate that was
too expensive it made it difficult for
us to compete globally I thought 20 um
and I thought bringing down cap gains um
again I forget exactly what they were
maybe 29% I forget was also smart but I
think he went too far but you can argue
that there's no right answer on what
that is going to be it's a guess right
you just put it out there and you hope
what you what you plan and what you
propose and what is implemented works
and you don't know until it does so I
didn't I didn't have a problem with him
trying that yeah 35 to 21 you got it
exactly right yeah you've acknowledged
that kamla's unrealized gains tax is a
disaster well I'll acknowledge that it's
not real and you're making it up that
you've never heard her say that I made
it up yeah you made a her it was in it
was in the Biden the last Biden Harris
budget it was in the Harris platform at
the DNC it was that was the Biden
platform at the DMC right you never
heard her talk about it search place on
his name and put her name in there but
you're you're reaching David you're
reaching right you never heard her talk
about it at all she's been very specific
that cap gains goes to 28% that um that
what has Biden what has Biden done well
and what has he not done well and then
the follow-up question is if it were an
open Democratic primary would you have
voted for kamla Harris I don't know but
then again if Donald Trump participated
in the debates on the Republican Primary
in the Republican primary would you have
voted for Donald
Trump you
know you're saying you're saying it's
analogous the Republicans had an Open
Primary no but they did s
competed Nikki Haley competed that an
Open Primary Trump was 50 hold on a
second Trump trump was 50 points ahead
maybe he should have debated I don't
know no I mean look I would have been in
favor of him debating but he was 50
points ahead and everybody had a chance
to run
Democrats pretended on let me finish
then you can get your response okay the
Democrats pretended that Joe Biden was
just fine that he was sharp as attack
that he was the best version of Joe
Biden and when the primary came and you
had um Outsiders like Bobby Kennedy uh
try to compete not only did he not only
did Biden not debate they basically use
lawfare to keep Bobby Kennedy off the
ballot they did not allow him a fair
shot at the nomination which is why he
had to leave the party and run as an
independent then we find out after the
debate that actually Biden is not fine
he's actually appears to be a
significant cognitive decline so somehow
Nancy Pelosi gets him out of there and
then KLA Harris is Anointed she's never
won a primary vote ever she in 2020 she
ran and dropped out before the first
primary and then this time around she
never had to compete in the primary and
Som
the question is I don't think well the
question is how can you liken this to
what the Republicans did having an open
and competitive primary so first of all
the Republicans do not have an open and
competitive key word competitive primary
because if one of the candidates refuses
to participate because they have a lead
look what happened to Joe Biden for all
we know VC VC would have destroyed Trump
as much as Trump destroyed Joe Biden
Nikki Haley would have destroyed Trump
as much as Joe um Donald Trump destroyed
Joe Biden I don't I was supporting Des
santis at that time and it was
definitely I think Des santis would have
crushed him too right they those allow
to compete their names were on the
ballot you're talking about a very SE
would you do you think Des santis Nikki
H or VC would have beaten Trump in a in
a debate no I think when if you look at
them okay well hold on I'm saying it's
unclear I don't think you can just say
that they would have won I mean Trump
you so that means it's not a truly
competive Len when Trump when Trump was
in a crowded Republican field and
debated he crushed everybody so I just
don't know what would have happened that
was
2016 this is just debate this is just
debate okay what about the point that
the Democrats kept other contenders off
the ballot they use lawfare and moreover
they lied about Biden's cognitive
condition and then they anointed KLA
Harris through a process that is opaque
and we still don't know what happened
okay so here's my answer right first
going back to Republic it wasn't a
competitive primary if the contender
doesn't participate and yes he did well
against 15 other candidates in 2016 but
I'd be willing to bet that he's also had
cognitive decline everything he says and
does is reflective of that if Joe Biden
had said the same thing we would be
having a lot of qu we would we don't
judge Donald Trump and his cognitive
ability the way we did Joe Biden okay so
we'll put that behind now let's go to
Joe Biden I can tell Democrats lied
about Biden's condition let's just put
Let me I'm going to tell you my personal
experiences with Joe Biden right I
didn't talked to him a lot twice during
that period And I can tell you from the
first time I saw him a year before the
last time I saw him which was you know
probably in March or April I forget
there was a decline but the decline was
in his sharpness right his quickness of
response if you sat down and you listen
to him speak about something which I did
he wasn't forceful he wasn't you know he
looked like a Walking Corpse um he
looked awful right um but in terms of
content it was there and so I understand
why they positioned him the way they did
it's just to sell it was impossible so
that's part one so I don't think the
decline is nearly what you're saying it
is but I do agree why they get rid of
him why they get okay so that's now
we're moving forward right his ability
to respond in real time you slow down we
all slow down right I'm 66 years old and
I've slowed down versus where I was at
45 you so you know at 81 and at 78 you
were going to be slower Joe Biden in
just was not as quick that was a real
problem he got destroyed in the debate
by Trump because of that not because he
didn't know the the materials and the
content but he just couldn't respond and
think fast enough so I think that's
where the the misunderstanding is it's
not that he had cognitive decline in the
purest sense it's that his ability to
respond quickly was gone and he looked
like he had cognitive decline so now
let's go forward to the Democratic
National um convention where um and
right before that where they replaced it
I was curious about just the um
mechanics of the whole thing so being
the curious person I am I went and
pulled up the bylaws and the rules of
the democratic party and the Democratic
National Convention and they reset those
every four years prior to them pulling
out and it's very very clear that the
only Mission and the only task and it's
pretty much the same in the Republican
because I look that there's too the only
mission is to win you want to to win the
presidency you want to have control of
Congress that's all they care about and
they give themselves every bit of
flexibility to do whatever they damn
well please to put themsel in that
position they are a private organiz are
they the party are they the party then
of democracy as they claim to be or are
they the party of winning at all cost so
now you're trying to you know play
branding games right it start I'm just
saying that their rhetoric is at odds
what they actually did hold on a second
there were 14 million AR voters in the
Democratic primary that's the mainstream
media discussion of this right they say
there's 14 million voters I say Trump
didn't debate at all there was Zero
debates with Donald Trump which one open
primary though people got to vote for
their candidate it's not an Open Primary
because it's Donald Trump's family
business he controlled what happened in
the yeah look listen I mean I was again
I was supporting someone different
during the primary and the reason why
danus lost is he didn't get enough votes
okay the Republican Prim voter Donald
Trump
that's why won the Primary fair and
square whether he debated or not he was
up 50 points on everybody else and I bet
I don't not what happened with Biden
what happened with Biden is B bid let me
finish David let me finish Biden won the
Democratic primary he got 14 million
votes and then they threw at that threw
out that result and put in KLA Harris
because they didn't like his we ever in
a
fraternity what's that were we ever in a
fraternity were we ever in a fraternity
no okay in a fraternity they get to vote
on all kinds of but at the end of the
day if the chap
the the National Organization says no
right doesn't matter who won the
election right so you're saying the
Democratic party is a click I get it
it's meain just to just DAV you're just
talking branding you can brand it
however you want no the Democrats said
they're the party of Dem Democrat I'm
not a Democrat I don't care what they do
I don't care supporting them you're
supporting them supporting can you
acknowledge hold on can you just
acknowledge that their rhetoric is
hypocritical I don't care what the r is
I don't pay attention I don't pay
attention to their rhetoric we're not
going to get progress I really want to
hear what Mark thinks yes here we Gove
forward move forward two okay two things
seem to uh be true at the same time if
I'm recapping your position here mark
one you would have liked to seen Trump
debate two I think you would have loved
to seen a speedrun primary perhaps maybe
kamla you know battled it out I honestly
didn't care I want once Donald Trump was
the candidate I wanted the best person
to beat Donald Trump what I cared about
let me go back to my question so I'm
just going to give you a succinct
summary of Mark Cuban's position his
evaluation of the Trump presidency the
positives were tax cuts and warp speed
and operation War spe and warp speed the
negatives were continuing the war in
Yemen when they had a chance to and then
this and actually the negative wasn't so
much that sorry TR stum the negative
wasn't so much he continued it the
negative is the hypocrisy and his okay
right in the style okay now tone of how
he governed can we do Biden what are the
things that Biden and Harris did well
that have helped the country and what
are the things that they could have done
better did not do well so I'll start
with the negatives first so just so you
know that there's a lot of them one the
way they handled the Border was
horrific there's no way to you know to
say it any differently now I understand
why they took the approach they did
literally if if I were in a central a
Central American company country and my
family was at risk getting shotgun
because there's a drug war I'm doing
everything I can and I Rec I recognize
you know that if I just set foot on
American soil I have a chance for Asylum
and I get that and I get why Biden and
his administration might say just for
human humanitarian reasons we're going
to increase the number of people that we
allow to do that I understand why he
would do it but at the same time he
opened the door too wide and he made it
so that there were too many people that
came through and that created cascad
problems now to his credit down back in
June I think it was he he signed an
executive order which he now has made
permanent or is permanent as you can as
president that changed um that there's
no longer the option to just set foot on
American soil and be eligible for um a
hearing for Asylum you can't do that any
longer and to her credit she worked with
the um head of um The Mexican government
and they have taken steps to reduce the
flow of people to the border and so now
the number of encounters at the border
is about the same as what it was right
before the pandemic under the Trump
Administration so while he was too long
to do it while he um handled it
incorrectly overall and messaging was
horrible I think they got to the right
place but now we have a problem right
that he created where we have too many
um non-citizens illegal aliens however
you want to call them however you want
to Brand them and we have to understand
how to deal with them I think that they
have talked about Comm has talked about
first and even JD Vance said this first
we're going to get rid of the criminals
which makes sense but Donald Trump says
we're just going to deport everybody any
illegal were just going to deport them
now Obama was the deporter and- chief he
deported more people than Trump or Biden
over three million people but he had a
specific process in place that everybody
could understand and I think with Trump
remember um that or oron Gonzalez kid
the six-year-old kid in
Miami Gonzalez right where you all a
sudden you had these these cops with you
know riot gear on and machine you know
and AR-15s or whatever they use pointing
them at a six-year-old kid cowering in a
closet if Donald Trump does that and
that's not contrary to how he approaches
things we could have another series of
riots and protests that go really really
bad and so while I think Biden handled
things completely wrong at the beginning
I think with Harris now and she's saying
she'll support the um the immigration
bill that was bipartisan etc etc you
guys know that I think she has a more
common sense approach to dealing with
deportations and getting people through
the Asylum system and the Asylum that
bill I think said that it would reduce
the amount of time to adjudicate Asylum
to 90 days which means that there's a
chance to get control of this turns into
a r okay so that was border was bad
anything else bad or should we shift to
the good I think the spending was bad I
think um that we overspent and I think
we went through a period where uh and
I'm not trying to make excuses for him I
just think you know you guys mentioned
this before he did overspent and I think
the the infrastructure bill was good I
think the Broadband bill was good and
everybody says we spent $42 billion on
broadband and got nothing we should have
gone to Starling but the reality is the
money went to the states and they could
buy um staring from Elon all they want
so that's just kind of the mainstream
media poo pooing something they
shouldn't poo poo but the EV stuff the
EV Chargers that's a cluster you know
and there's no way around that and so I
think that was bad um so pork barrel
spending basically unaccountable
spending yeah no I think you know what
they did in health care um you know you
can take Lena KH con and say what she's
doing for the mergers you know Alberton
and kovers I think is too much I think
you know and I even told her this I sat
on a panel s right next to her and I
said the most important thing from a
technological perspective in this
country today is that we win AI that is
going toine everything militarily for us
and economically for us and that when
you try to break up companies like
Google and Facebook you diminish our
ability to compete globally with AI and
she told me now that she didn't didn't
impact her at all that she understands
that and she's heard that before I think
their approach to that is wrong I think
that what she's done with the FTC
against Pharmacy benefit manager ERS has
been good right Pharmacy benefit
managers are ripping off more companies
and costing and increasing the cost of
medications more than anything else
that's happening in healthcare and she's
called them on the carpet with a recent
report and just sued them I think that's
good um I think in terms of other
negatives like K Harris now I think um
the um um filibuster I think that's a
mistake to try to get rid of the
filibuster because then somebody else
gets rid of it for something else and
it's just cascading problems um on
spending we talked about I think he
spent too much and what have they done
well I think he changed the tone of the
country I think that was really really
important no one woke up you know and
David calls it mean tweets but not
waking up concerned about Mean Tweets is
important not waking up concerned about
there being some random um tariff on
your company that you didn't expect not
waking up being accused of of doing
something I think those were all huge
positives I think um supporting workers
I think you know just having just a
sensibility of okay we're we're not in
the middle of everything there just
wasn't this uncertainty like every
single day that every business woke up
with with Trump just removing that was
the biggest positive of all so let's
look forward now to AA Harris candidacy
for president of the things so we know
the Donald Trump track record because he
gets the credit for the things he got
right and he has to take ownership of
the things but how it's been defined
I'll use the Yon example again I'll use
the price example on oil again the you
know we have Trump nesia right we
presume that what he did in terms of the
economy and everything and no Wars you
know no everything was just Rosy under
Donald Trump and I think that's another
thing that's NE I'll be honest I've
never heard this specific Theory I'll
take the time to look and figure it out
for myself and I'll
but what I'm curious about is that track
record is there now how much of the and
do you think it's important for us to
give credit for the good things to kamla
and responsibility for the bad things to
kamla in that so that you have an
equivalent AB comparison do you think
about it that way or no no I don't and
I'll tell you why okay I'm assuming all
you guys have had a boss at one point or
another yes yeah yeah and do you all
agree with everything that that boss did
all the
time no no no no but you had to do what
the boss told you to do yeah and that's
Common's job but I like I like to take
credit for when the boss tells me I'm
owning something and then I do it well
but at the same time you get credit for
doing it but it doesn't matter you know
if it turns out to be wrong it's still
the boss that's on the hook for what
about the Border mark because you made a
comment about the border and she was
declared the borders are yeah again that
that's branding I mean we play branding
games with politics all the time if you
look at what her specific responsibility
was I alluded to it earlier her job was
to go to Central America and talk to the
heads of the countries there and try to
reduce the reasons why people were
leaving their countries to go to the
United States why do you think they uh
open the border so much I'm wondering
Mark there is a conspiracy theory or
Theory um you can you can pick how you
want to frame it that this is to
increase the number of democratic voters
at the same time we hear that a lot of
the folks coming in who are the working
class that the Republican part is now
the populist party so those votes would
to the Republicans so you know I've
heard this argument from both sides what
is there's another theory an economic
theory Mark which is that it increases
the base of workers when we're at our
lowest unemployment rate in history and
inflation is Raging so by bringing in
lowcost workers at that you're that
you're able to get to work at a lower
wage rate you actually have a
deflationary effect and a stimulatory
effect because then they end up being
tend get the logic there I don't think
there I think maybe they might have
thought of that earlier and that's why
they let too many people in but I think
they realize now that they screwed up
and that shouldn't be that shouldn't be
an executive Authority right I mean that
should be like a legislative
Congressional Authority that makes that
decision and that determination on
whether to change immigration policy do
you think that the executive branch
should be able to unilaterally determine
who comes into the country without
following laws no I prefer that the
Congress does it unfortunately that's
just not what works look at the SEC with
Gary gendler the guy's a and but
you know they
that actually yeah so that's an area we
we can agree on but before we get to
that so so your claim on Border we
finally found ground truth here we go no
we we can agree on we can agree on
that'll we'll get to that but but before
before we do that I just want to finish
up on Border here so your claim is that
KLA Harris really wanted to seal the
Border but she was prevented no doing by
Jo didn't say that David you're really
good at trying to position things so you
have you know you have talking points to
go out with um no I'm just you said that
this was a case of a VP who was thwarted
by her boss who do not what I said that
is you ad the king of virtue signaling
David you the k for virt okay so the
truth is she was on board with Joe
Biden's agenda I don't know she's doing
what she was told which is it
there's no you're creating false choices
David you're creating so David if you do
the job your boss told you to do does
that you make a declaration before you
do it if I agree or disagree how do you
know she disagreed with Joe Biden about
these policies because I see what she's
doing now well because she changed the
policy right she has a different polic
it's an election year conversion she
realizes what a disaster it's been so so
when Trump does it it's brilliant when
let me give you the proof okay her own
words okay she flipped her position she
called Trump's border wall unamerican
and medieval and mocked it and this is
before she became Biden's Vice pres so
when Trump hold on when when she was in
the Senate and Trump was trying to build
the wall remember Democrats tried to
thwart that they subjected him to years
of litigation to prevent him from
building that wall and she multiple
times was on record saying the wall was
unamerican medieval mocked and so forth
she also compared ice to the KKK she
said that images of border patrol agents
evoke slavery okay this is her rhetoric
I don't think Joe Biden made her say
that she suggested that we abolish ice
and start from scratch okay and now she
wants to talk about how tough she is on
the border ridicul maybe she talked to
JD Vance back then and was taking his
positions people changed their mind for
whatever reason people learn you're
positioning as okay so for so hold on so
so throughout her whole time in the
Senate she was arguing against a border
wall okay in the strongest possible
language she then becomes bordar or you
could call it Point person for the Biden
Administration and for three years they
GID us that the Border was not a problem
that it was not an open festering wound
like the videos were constantly coming
out I remember on the show we talked
about it and I was told when I would
raised the issue of the boorder that was
a conspiracy theory that Fox News was
just cherry-picking videos remember that
Jason in any event yeah well people were
actually it was interesting bring that
because people were sharing people were
sharing videos and playing them on Fox
that were from like 10 years ago so
there was a lot of misinformation
Democrats the whole Dem about Caravans
David all those Caravans never made it
to the Border how many Caravans did we
hear about that over 10 million migrants
have entered the country during the
Biden Harris Administration the first
thing they did hold on when Biden when B
no we know about no no we do know those
those 10 million are just the Border
encounters those are the recorded
crossings that they led into the country
the number we don't know is whether how
many more were not recorded that number
could be 20 or 30 million what happened
why why did this happen I'll tell you
why when Joe Biden took office he
repealed all of trump executive ORD no
we did not what is it
section2 of them title title 42 title 42
stuck around until the end of 23 and in
addition they got rid of Trump's remain
in Mexico policy and they changed the
meaning of Asylum so that anyone who
went to the border and said that they
were suffering economic hardship which
is basically the whole world okay could
now qualify for Asylum and they were
given they were given like a ticket to
appear in court one day like three years
5 years and they were ushered into the
country and then they were like
nonprofits working with the B
Administration to put on buses I agreed
that they screwed I agreed they screwed
up on the border you're I'm not AR screw
up no fine they screwed up but now we
are back defended it so yeah but she she
changed just like Donald just like JD
Vance JD Vance called him Hitler JD
Vance in 2020 and and after diminish
Donald Trump that was in private
Communications in 2016 and JD Vance
explained including last night why he
changed his mind about that right and
that's fine so he talked to people so so
do she representing state of the people
this was her position like six months
ago and now all of a sudden she's the
nominee so
she's you're you're trying you're virtu
signaling like a mother right you're
trying to put you're trying to Brand
anything you tried to Brand anything
that you disagree with that you think is
a negative and just put it on her which
is politics 101 right but you're not
looking at what she's actually doing
what she's she was the point person for
the administration okay look when does
it matter if she was if if she was in
charge does and she said you know what
what you want her to do was like JD van
said about um abortion right I talked to
somebody and my you know they proved it
great that was a smart move by him would
it be smart for her to say I was wrong
now I I've learned more and I've picked
up more information now that's actually
a good question for you sax if JD Vance
can Lobby and want a National Abortion
ban and then change his mind as the
number two for Trump can kamla change
her mind when she is is no longer
running for you know the number two seat
as Biden I well I think I think JD
explained why he changed his mind about
that he said that there was a referendum
in Ohio and his side lost and he so he
can change his mind can Kamala and do
you have the grace for Kamala to change
her mind or not hold on a second he's
taking a learning from that KLA Harris
has never explained why she changed her
mind fact the media hold on a second
when will the media even ask her this
question she doesn't submit for
interviews and certainly the the debate
moderators like on ABC never asked her a
question mark if she's going to change
her mind if she's going to have this
election year conversion why doesn't the
media ask her what is the basis of this
when did you change her mind was it five
minutes ago why then did you uh support
Biden throughout your entire last three
and a half years why don't they ask her
these questions if you were part of the
Biden Administration why did you
volunteer to be the borders are if you
disagree with Joe Biden about these
policies when exactly did you change
your mind those are the questions that
she should be answering why won't she
those are the question why W she submit
to an adversar interview are the
questions that you want so that you
think you can put her on the defensive
and get and
have know no look you want to know but
let me just tell you what's important
put yourself put yourself in the shoes
let's just call this a business right
and The Business of this business is
getting votes and winning this election
and you came in and the the product that
you originally had new Coke failed right
Biden's new Coke in this example and you
come in and you say I'm you know I'm
bringing it back this is the new new
Coke and we we're going to test to see
if that's working well when you brought
in KLA Harris she had no favorable
ratings whatsoever she was behind in all
polling right where Joe Biden was and
now she's either even or ahead or a
little bit behind in every single poll
and why do I bring it up because it
means what she's doing is working you
don't I think actually we agree I think
we actually have found a point to agree
on which is I think comml Harris is just
saying whatever takes to get elected you
can say the same thing about her true
belief hold on she stated her true
belief years ago and throughout the
Biden Administration which is she never
believed the Border was a problem she
thought the border wall Trump's wall was
unamerican and medieval and she thought
that ice needed to be abolished I think
that was her true belief now if it's not
her true belief I would like her to
explain when she changed her belief and
why the same way that JD Vance did and I
think the American people are entitled
to know that and I think if the media
was doing its job they'd be asking her
those questions she she's never been
asked that Stephanie rule that latest
interview did not ask that and the
debate moderators did not ask that let's
just go outside of America for one
second because Mark you're Jewish you're
of Jewish Heritage I would really like
your opinion on what's happening outside
of America there was some crazy pictures
over the last few weeks coming out from
the Middle East there's still all this
complication complicating stuff with
China where do you stand on all of these
things where do you stand on the Mir
shimer Sachs Jeffrey Sachs kind of
school of logic that there's a military
industrial accomplice that tends to just
push us towards these War zones and
these forever Wars where do you just
stand on those issues and how do you
think about that I mean honestly I don't
have enough information to give you a
qualified response I'm I'm pro-israel to
the core because I'm Jewish um I'm anti-
Hamas to the core I think you know
they're terrorists they are terrorists
um I want to see Israel to succeed I
want to see Israel succeed I want to see
the United States support them and help
them in that um but you know when Israel
was going into Gaza I thought it was too
blunt an instrument but when they went
after heala I thought they did the exact
right way and so you know I'm I'm always
only gonna resp you have a nuanced
opinion of this yeah and Ukraine yeah um
Ukraine I don't want to see American
blood spilled and as long as there's a
NATO and I agree there should be a NATO
I'd rather see us spend money than put
soldiers In Harm's Way and so U does
does the Harris campaign agree on that
point or do they have a I haven't had
that conversation I haven't had that
conversation with them I don't Mark let
me ask
you just a point on arithmetic which I
think is the most important arithmetic
we should all be talking about today is
the first uh yesterday was the first day
of the uh Federal year fiscal year right
and here's a little uh image for us to
all look at together as a group an image
that everyone should wake up every
morning in the United States and look at
the first thing they do instead of
looking at Twitter is they should look
at the image that I'm sharing on the
screen right now which is federal debt
in the United States I thought screen of
you taking a bath this is on the first
day on the first day of the new fiscal
year federal debt jumped by $24 billion
in one day federal debt now stands at $
35.7
trillion and the biggest challenge we
have in the year ahead is that 10
trillion of the outstanding debt comes
up for refinance it's going to refinance
at around 4% so we're going to be adding
another $300 billion in new interest
expense next fiscal year plus the Biden
Administration has proposed a $7.2
trillion budget for next year which will
inevitably lead to another $2 trillion
of deficit spending which means that by
the end of 2025 we could be staring at40
trillion of federal debt and if you do
the math on that at 4% interest it's 1.6
trillion a year of interest expense a
year just on interest expense on the
outstanding debt which effectively
begins to eclipse the entire federal
budget very quickly and gives us no
ability to maneuver to meet the needs of
all the policy demands that are being
described and shaped in all of these
elections and all of these debates and
all the that's going on is
really not fundable what is the Harris
campaign say about the situation with
respect to deficit spending and debt and
I don't know how high can raise taxes
and not cut spending to even make a dent
in the challenge ahead without
driving a massive recession what is what
do you think like the Harris versus the
Trump campaign's kind of intentions are
as we look at this Abyss that we're now
kind of jump I can't speak for them I
can only tell you the conversations I've
had and what they've said to me whether
or not they take these directions is
completely up to them and I don't know
but I've said the exact same thing they
know that the um the deficit is a
problem
it won't be a budget b a Biden budget
there's no Biden Administration to
happen they've already you know just the
tax rates are completely different than
the Biden budget proposals where there's
no you know um unrealized capital gains
Etc they went to 28 and 28% so it's not
going to be what was proposed by Biden
there's a limit on tax basically right
like that that that people will there's
only there's a point of diminishing
returns and raising taxes and they
realize it right so when we talked about
unrealized capital gains and I gave
thousand reasons why not they're like we
already know this um y y now to David's
Point why don't they just come out and S
say it because the 1% of high
information voters don't know the
difference of unrealized capital gains
or not and don't care the 99% want to
hear about the things that they're
talking about so that's why people like
me can go out there and talk about it
but to your point and the bigger Point
David um da that they realize that
there's only a couple ways to reduce the
deficit one you get inflation under
control and that reduces interest rates
and that's going to work in our favor
and I think that's happening now if it's
$1.6 trillion then you know if interest
rates go below 4% that saves a lot of
money probably the most you can save
they realized efficiency is an important
element in her last speech in Pittsburgh
she talked about how long it took it
only took one year to build the Empire
State Building that is crazy there's too
much friction in the government to be
able to do building the right way
they're going to reduce friction I've
had conversations with them about AI as
a service and being able to
optimize integrating um um artificial
intelligence into all these processes so
that they don't have to keep on hiring
people I don't think their mindset again
I'm speaking for myself and my
perspective of my conversations with
them I don't think their mindset is to
just go out there and just cut a ton of
people but I do think the mindset is how
can we Implement technology to become
more efficient so that we can provide
more value to the citizens of this
country at less cost I think that's
important to them I think um you're
going to see a lot of redu I'm trying to
think of the best way to say it she
knows that technology is the ultimate
driver of success and if she supports
new technologies and you heard that
again in Pittsburgh she wants she
mentioned blockchain but more
importantly she mentioned Ai and how AI
is key to us being a dominant military
um to having our mil um our military be
dominant and to have our economy grow
because the other way to get results
isn't just to slash and burn like a VC
wants to do but to grow the economy and
that there truly are ways to grow the
economy without just more spending but
do yeah do you supported Elon Musk going
in like if you're saying shed regulatory
burdens shed inefficiency improve
productivity don't we need an Elon Musk
style model that you know Trump has
talked about with Elon send someone in
and let's go fix the inefficiency across
all of the administrative efforts run by
the federal government what first of all
when you just when you do a v VC type
just cut the Department of Education
right whatever it is we don't know what
Elon would actually do well I think that
triggers a recession because then you
got a lot of people unemployed right
well exactly right and there's contracts
and so that means the United States of
America is violating all these contracts
with small businesses and medium-sized
businesses um and maybe you want to put
Doge in the the treasury who knows and
that's how we make it all up but but you
can't just crack slash and burn to your
point Dave I mean it just won't work and
so what you can do though is introduced
technology we have yet to have a
president that fully understands
technology I'm not here to tell you that
kamla Harris is a geek she's not but she
understands the impact and she has a lot
of people who truly are Geeks around
there around her and she truly believes
that implementing technology is a way to
improve efficiency but the whole idea is
you can't take the libertarian approach
that's ideologic you have to take a
problemsolving approach how do you look
at any specific problem we're trying to
solve how can you apply technology to
that I think you will get that from the
Harris Administration as opposed to
Donald just talking about the AI and how
much energy it consumes Mark you you
said of all the roles if there's a
Harris Administration you said you want
to run the SEC why was I I was
just trolling Gary gansler yeah I was
just trolling Gary gansler because it's
fun to do okay okay so you think and
particularly why is gendler has he done
a particularly bad job are you just
trolling are you just trolling are you
just trolling David trolling me now
right I can't keep up with the
troll control I agree with Mark nested
trolling
nested Mark Mark is actually supporting
Trump he's just trolling sacks and
coming on the show he's been going on
for week I know he's not supporting
Trump but but I tell you one uh one
Republican that as I understand that you
are supporting is John Deon who is
running against Elizabeth Warren in the
Massachusetts Senate race yep so uh I'm
curious about this because I think this
is an area we could agree on you're not
a I didn't know that that's pretty
that's pretty interesting yeah I mean
I'm not a fan of Elizabeth Warren I've
talked to her about crypto I mean I
understand her position her basic
position is you know bad nation states
use crypto to fund their operations the
bad stuff and she just wants to throw
the baby out with the bath water as
opposed to using you know like I
proposed a a blacklist from ofac that
can be implemented in all kinds of I
need to get into the details right but
it just it wasn't going to happen and so
when John not just being pro crypto but
you know his background his character I
thought really was a positive and so
even before he got through his hat in
his ring I was talking to him supporting
him giving him feedback and helping him
so again I'm not a Democrat I have no
problem and I think John deedon will be
better for the country better for the
citizens of Massachusetts than Elizabeth
Warren would be what would be common
sense crypto regulation obviously you
don't want people buking people out of
their money yeah so what would be a way
to balance accredited investors versus
the populace non-sophisticated investors
if that's even a thing so I've got a
compy called people are running a muck
you know right so I've got a company
called lazy.com and like if you go to
lazy.com mcin you'll see all my nfts and
all it is is a is a way to display your
nfts it's hardly makes any money but I
wanted to see if we could release a
token so first thing I did was I had one
of our people call the SEC and say hey
what steps do we have to take to release
a to toen they went through this whole
rigar about getting Securities lawyers
and this and that there's no way a
company with $100,000 in revenue is
going to be able to afford to do that so
then I said okay I'm gonna go right to
the sec.gov and see about rega and see
if I can just fill out the forms myself
and you know just see what so you start
filling in name address and then you get
to the type of business and the only
category is other and once you follow
that other um connection there's just no
way to put the um round the just there's
no way to make it work you can't you
can't make it work and I actually said
that directly to Gary Gensler and so to
answer your question you have to make it
easy to follow the rules and you can't
and in terms of everything being a
security guzzler says everything applies
to hoe right there's a hoe Rule and
everything you know but the reality is
there's also a a rule that came after
ruling that came after um called Reeves
Reeves versus ernston young that had to
do with interest and if you think about
if you guys shorted stocks or done stock
loan where you can make some money off a
stock loan a borrow yeah yeah so but you
know you can make a share you can make
one of your shares of stocks available
to the borrower and get paid a vig right
you might get 10 or 12% and so doing
that is the exact same thing as loaning
out Bitcoin for somebody else to borrow
and there's no they don't call that a
security so I asked I Ask Gary Gensler
if it's not a security to loan out um a
share of stock and why is it you know a
security to loan out a Bitcoin to
somebody
else didn't have an answer and the point
there is he has an approach that is
regulation through litigation he's going
to sue you first ask questions later and
hope that the result of that litigation
becomes a rule that everybody else has
to follow I literally said what that
well I was going to say wouldn't a more
common sense approach here be to say if
we had an accreditation test of
sophisticated investor test we've talked
about it here on the program do yeah
there is well there's not one for the
populace to take like a driver's license
where they could say hey I've taken this
test I understand diversity
diversification Etc if you're able to
register with the Securities um and
Exchange Commission for your company for
the release of your token then depending
on how many people you were trying to
sell it to you would only be able to do
that with qualified investors right but
what happens is Gary gendler is is
making it so difficult to register and
what he's what he should be doing is
saying here's the bright line
regulations if FTX wants to loan out all
their ethereum you have to do what they
did in Japan you have to have 95%
collateral and 95% of anything needs to
be put in Cold Storage if he had
followed the same rules for crypto that
Japan did FTX would still be in business
and bankman free might still be in jail
but FTX three capital they they'd still
be in business because did the wrong
thing now I've literally talked to KLA
Harris at lunch about this specific
topic of litig Regulation through
litigation and as a lawyer she got it
immediately and she knows it's a problem
and they know and she's even mentioned
in one of her speeches that that's
something that they're going to deal
with can I can I get your reaction to
the story from the Washington reporter
there was a a story I don't know if it's
true not post but no Washington reporter
so according to some Senate sources K
Harris was considering Gensler for
treasury secretary I would call that
okay what's the about that or I
I I haven't asked her about any position
at all but what I was told and and look
talking to people who are like always in
the same room with her the response to
me about Gary gansler was have you heard
anybody say anything
positive that's
intentional well I mean the reason he's
in that role is because he is Elizabeth
Warren's right Ally and she has been
enormously powerful during the Biden
Administration have you heard Mark Mark
boil it all up like what's your general
sense of her like how should we all
think about her so here's the way I look
at KLA right she is open-minded she's
smart she does the work she digs in and
learns she's ethical she's honest she
cares um she wants to bring the country
to the middle she knows that when she
was far left that might have been great
for the State of California but it
doesn't solve the problems of the United
States of the America of America today
and that's why you've seen her go to the
middle and that is truly I know David
you might not believe this it is truly
honest and through and through her when
she gave give speeches now she says I'll
take ideas from Independents I'll take
them from Republicans I don't care we
have a lot of problems to solve in this
country I I wouldn't be shocked if if
she wins she talks to Elon Musk if Elon
would talk to her she doesn't care where
the IDE why would she do interviews with
unfriendly or challenging folks this
seems to be like you know a really valid
criticism Trump here we had JD Vance
here sh I don't disagree look it is not
why she why does she hide do you think I
I don't think she's hiding there's two
elements there right one I think she
understands the assignment which is to
win the election and the best way to
reach the most number of people and get
them to change their mind is not the 1%
of people who are I am High information
voters it's all the people who are
showing up at rallies and screaming and
yelling those are the people who people
whose mind she has changed so far and
that's how she's caught up and who she
wants to change and that's where she's
putting her focus and two and this is
brutally honest um she has too long a
windup in answering every single
question and that makes interviews
difficult she wants to inspire everybody
with everything that she answers and
tries to get people all excited about
what she's going to do so she takes too
long to get to that if you cut out the
wind-ups her answers aren't so bad her
answers are ABS legit but that windup
makes it seem like the whole word salad
thing you don't think it's relevant that
she was born to a middle class family as
the answer to how she's gonna Sol I've
said she's got to drop that yeah but on
the flip side I mean if you listen I I
literally because I knew I'd be talking
to you guys I listened to Donald Trump's
speech in Milwaukee did any of you guys
listen to that yes I was there okay you
were there
was last one no no not Milwaukee not the
RNC not the RNC this I'm talking two
days ago two days agoing about the RNC
so KLA might have a long windup Donald
Trump has an eternal windup where all he
does is get to his slogans and talking
points and then talks gibberish the rest
of the time let me fill you in in some
of the gibberish talking about a rally
he will speak EX extemporaneously for
over an hour yeah but what he says
should matter I'll take that any day
over someone on a teleprompter 19 David
so what you're saying it doesn't matter
what he says no I think it does matter
but I think that watch I've watched
enough Trump rallies including his
speech at the convention where I was
there listening to understand what he's
what issues he stands for okay well tell
me what issues he stands for when he
diminishes Jimmy Carter who just has his
100th birthday tell me what issues he I
I've heard him say good things and bad
things about Jimmy let's put that aside
everyone makes fun of Jimmy Carter okay
so let's put that aside let's just say
it is what it is even though it's
aside we'll go that put that under the
character he started talking about
apartments with no windows that Builders
under KLA Harris are going to start are
being forced to build apartments with no
windows I haven't heard that bit yet
yeah oh I listened to this today and
then he also said but I also know that
people take a lot of what Trump says out
of context to make it seem a lot worse
if you actually listen to if you listen
to if you listen to what he says and you
don't try to um you know shade it in the
worst possible way a lot of what he says
makes sense I believe that if you if you
want to know why I support Trump number
one the Border okay unlike KLA Harris's
election year conversion he has been
very consistent ever since he came down
the escalator yes that we needed to have
a wall and that really that was just the
first part of our border security we
need to have a border Democrats not just
comma pretty much all the Democrats
fought him on that for the last eight
years to the point where understand
understand so the bord is one thing so
you got that okay so I think that and
only he has credibility in this election
on that issue number two on the on the
Foreign Wars we talked about this I mean
I don't think his record on foreign
policy was perfect but it is true that
he did not start any new Foreign Wars Jo
Biden and and and the no what war did Jo
bid the Ukraine war we could have ended
that he invaded Ukraine I've argued on
the show many
times in my view he provoked it he
provoked it
you're signing whatever to Joe
Biden he got he forced Putin to invade
Ukraine come on stop acting dumb you
understand that we tried to convert
Ukraine into a giant NATO base that was
the Russians said over and over again
that that was a red line to them it was
the brightest of all red blame it on bid
Bill Burns our current CIA director said
it best it's the brightest of all red L
of all red lines for the Russian Elite
not just Putin okay that has been a
consistent Russian you think
and more hold on a second even if you
don't believe even if you disagree with
me and you say that Biden didn't provoke
it we had the chance to end the war in
its first month with a deal at Istanbul
okay and you know the mainstream media
denied it for a year it was only an
alternative media and then finally the
New York Times The Wall Street Journal
wrote stories about it it is the truth
Victoria nulan just admitted it we could
have agreed to a deal in the first month
the Biden Administration shot that down
that is why we have the war going in
Ukraine okay so let's just say right but
remember
destructive and by the way if you care
about Israel hold on Mark if you care
about Israel you should be really
concerned about the fact that the United
States has significantly depleted its
stockpiles of weapons and artillery
ammunition in Ukraine on a war that is
futile we sent we sent them our old
David we didn't give them anything new
we sent them our old Israel gets the
Gary lead 155 155 Mill artillery shells
or 155 MIM artillery shells it's not
about New or Old okay get the Glen Gary
Le Israel gets the Glen Gary leads right
and and look and on top of that selinski
there's only so much air defense there's
only so many patriots to go
around all
right do you agree that zilinski could
have said yes to that
deal the the one in Istanbul yeah he
could only say yes to it if the US
supported it and instead we encouraged
him to fight we threw cold water on that
deal we blocked
it we should have told zinski you know
what just make that deal we Don't Need
Another War right now okay this NATO
thing's not happening anyway okay
because we're not letting zilinski into
NATO well no the guy from Norway the guy
who just took over NATO says
otherwise we're not gonna let in
zalinsky was just here in the US last
week with his so-called Victory plan you
know what his victory plan was let us
into NATO immediately so that you can
fight our war for us you no I get that
with the B Administration to its credit
rejected that okay I give Biden credit
for that the good news is Biden is not
running in this election whenever it's
inconvenient you want to pretend that
Harris has nothing to do with this Adra
I'm just giv you reality I'm giving you
real when I've had people who worked for
me and started went out and started
their own companies like shath and and
and Facebook right they're not people
have different opinions the people who
work for me do what I say period end of
story maybe they do a better J she was
just following orders basically then
you're in B defense do you think J do
you think JD Vance is going to do
anything contrary to Donald Trump if he
wins there's an abundant record I know
what JD van stands for there was an
abundant
record Harris as a senator before she
even got thep she was was rated the most
liberal member of the Senate by why
don't you answer Mark's question it is
the question is what does she really
stand for what she really J question
sorry what what's your question I'm
happy to answer it would JD Vance ever
go against Donald Trump no I obviously I
understand that a VP cannot go against
that's it in the nutshell that's it
period and now we cut half the episode
now moving on hold on a second that fact
does not prove that KLA Harris has a
different policy than Joe Biden whenever
it's inconvenient for you to admit that
what doing D no you you're doing the
exact thing you saying you're saying
that I'm doing you're trying to position
her so that everything from the Biden
Administration is she has ownership of
it and what I'm saying is just look at
what she's doing look at what she's
saying you're what see here's here's the
the Trump deranger here's the antithesis
of the Trump Arrangement syndome
syndrome right you tell whenever Donald
Trump says something stupid everybody
explains it for him when K Harris says
something smart everybody tries to
explain why it's stupid and not true did
she say something smart I mean seriously
what was the last thing she said that
was smart just curious Jason you want to
fact check the window list by the way
the window list the the window list
Thing Mark just so you know because
Nick's shared it with us it's an
architectural digest article apparently
Eric Adams the mayor of New York
proposed wind bedrooms as a way to
change the building codes to incentivize
more Apartments being built to fix the
housing crisis converting the problem
with converting the pl happens this is
the gaslighting they try to make Trump I
mean also I mean Trump lies and you find
out that there's a real basis to his
some cases he just lies anyway Trump
can't ever explain it himself why is it
that the guy that you like can never
come out and say Hey you know this is
crazy this is the most ridiculous thing
Eric Adam suggested everybody else has
got to do the research and explain what
Trump really means cuz he is losing it
he is
cogn
as as an example of trump do you think
he's incognitive client sex no I think
he's very sharp we met him personally so
let's W let's wrap the politics section
with just a final question because no
wait I I have a question yeah let's
leave politics Mark very very pointed
question why did you sell the Mavs at
this moment so I three quarters of them
not the whole thing I still own
27.7% um for a couple reasons one when I
first bought in in 2000 I I was The Tech
Guy in the MBA I was the media guy you
know broadcast.com just sold it um hdnet
just created the very first ever highdef
television network I had every Edge in
every angle now fast forward 24 years
later um in order to sustain growth to
be able to compete with the new
collective bargaining agreement you have
to have other sources of revenue and so
you see other teams and all sports for
that matter you know talking about
casinos talking about creating doing
real estate development hotel that's
just not me I wasn't going to put up two
billion dollars to you know to get an
education on building that so that was
one that's part one part two is my kids
are now 15 18 and 21 and over the next
10 years that's a lot of pressure on
them to have to take over the team or
deal with the trust you know God forbid
something happens to me deal with the
trust fund issues and so by selling
three4 of it I took all that pressure
off of them because you you guys see the
hate I mean Jason can tell you all day
long about Jimmy Dolan you know he's Mia
right now and the Knicks are doing great
do you think valuations Peak Mark I
don't think they've peaked yet because
it it for the reasons I just mentioned
if we're able to build a Venetian type
Casino
and Dallas with an American Airline
Center in the middle of it the valuation
is $20 billion but I own 27% of that uh
well and you bought it for under 300 and
you sold at 3.5 just not everybody's
keeping the records I think chath you
bought a 300 and sold at 3 billion as
well so congratulations boys actually
let me ask you a question about that
when you did it did you just do it for
fun and it worked out to be a great
business or did you think it's was going
to be a great business no I did it for
fun so you know this a great question
DAV um from 2000 to
2010 the the actual valuations went down
and in 2010 we were not even able to
sell the New Orleans Hornets the league
had to buy it right and it was right
around then that the Sixers got
purchased for 200 for the same price I
paid and you know the um the cap the NBA
um salary cap is a reflection of the
total revenues of the NBA there were
multiple years when the salary cap went
down meaning our overall revenues went
down which was great for me
competitively because I would buy first
round picks for $3 million I would buy
players from other teams that couldn't
afford to run their teams and that's why
we went on this you know 15year streak
of never having a losing season and
winning 50 games in a row for for for 10
years in a row so um you know it worked
against me worked for me competitively
but that just shows you that things can
change and so I didn't what's thatv deal
so when when um cable and satellite and
um over the air became very competitive
and they started to grow and
subscriptions grew to 130 million people
um or subscriptions that's a lot of
money and they had to compete for
Content so that there would be less
churn and I I literally remember in 200
U and one when we first signed a first
cable deal they NBC had the deal and
they were going back to David Stern
saying we need fewer games and I sat
there in one of our Board of Governor's
meetings and I'm like look TBS just
signed a deal to pay a billion dollars
per episode for repeats of Seinfeld if
you do that on a valuation per hour ours
is fresher our ratings are actually
better don't think of it as as um less
um Avail less product will lead to more
demand it's the exact opposite we're so
inexpensive we can charge more and that
led to the next TV deal and that led to
the explosion Mark you have a lot of
fingers and a lot of pots and other
business say you have a really important
thing you're doing in drugs that you may
want to talk about yeah thanks for
bringing that up smth if you look at the
next 10 years of your life so you're 66
between now 14 years between now and 80
81 what's your goal like what are you
working on what are the things that you
care about where are you putting your
Capital what are you trying to do but
number one's family obviously but beyond
that is cplus drugs.com um we're up the
health industry like you wouldn't
believe if you've seen just explain it
for the folks that don't understand
let's just say guys our age or you guys
are close enough to my age we
use a drug called tadil right for those
of you who know what it is and you it's
generic
seis SM from you
guys wait we gotta double click on this
so I've heard from saaks so you've heard
from Sachs are you a seis or a Viagra
guy saaks what's going on
here anyway both so seis just seems
better value for money
what are those never heard of them like
what is that never heard of them he's
turning red actually so if you go to
Cost Plus drugs.com and you put into Dil
when it comes up we show you our actual
cost and then we mark it up by 15% and
if you buy it via mail order then we had
$5 for a pharmacy fee to review
everything and $5 for shipping and
handling the net result of that is you
guys have a general idea of what the
price is now from all the ads you can
buy A9 pack of toila for about $9.90
plus shipping and handling so for less
than the price of a bag of M&M's you
could put up a a little cup or jar next
to your bed of either M&M's or the name
of this
website. be right back $9 for 90 days
right we're like let's
go that seems free it's incredible deal
so and but you apply that to the 2500
drugs that we have have and now all of a
sudden you see what's wrong with these
things called Pharmacy benefit managers
and the problem of an industry that's
opaque and I'll give you another example
there are drugs that are called
specialty generics and the only thing
special about them they're actually just
pills is that they're they were
traditionally more expensive so there's
a drug um called aat nib which is a
chemotherapy drug if you just walk into
um a CVS as an example and I a big big
Pharmacy um and just you have a cash
payer or a high deductible payer and you
just needed it they'll charge you
anywhere from $200 to $2,000 you have no
idea what you're going to pay if you get
it from Cost Plus drugs depending on the
V the number and the strength it might
be 21 to $30 there's another drug
droxidopa one of my buddies came to me
and said I'm losing my insurance they
want to charge me um the pharmacy wants
to charge me $110,000 a quarter for this
medication called droxidopa all right
Landon let me check then initially was
$64 a month now it's in the $20 per
month because the our cost goes down we
pass it on and that's just changed the
industry because think about what
happens when you get a prescription the
push back but Mark I mean what is the
push back you get because that's that's
none count it's counter to the trend
right so is it just infinite growth or
how does the industry respond when you
create that price differential so it's
the innovator's Dilemma they can't just
give up all of this margin they so most
of the business of Pharmacy benefit
manager not most so a big chunk of their
businesses comes from corporate um from
corporations right and self-insured
companies and they go to them and they
put together the thing called the
formulary which is all the drugs right
that's available to them and they say
we're going to price this so that we get
rebates and we'll pass on the rebates we
get from the manufacturers to you now
they say they're going to pass on 100%
of that rebate they don't they create
all these subsidiaries and everything
that skim 10% or whatever off the top
but they know that they can continue
working with these companies because the
core comp of a CEO is not to know their
healthare costs and literally for any
CEOs that are out there audit your PBM
contract audit it right now I promise
you that that PBM is going to tell you
you don't need to audit and then you can
say we want to add Cost Plus drugs to
our pharmacy supply contract and they're
going to say no you're not allowed to do
it because they know our prices are so
much lower that is disrupting their
industry are you doing this as like a
for-profit business are you losing money
on this and doing it just to help
Society what what's your plan here right
now um I'm losing money and most of that
was because we built a factory a whole
robotics driven Factory that
manufactures um sterile injectables that
are in short supply so now like with the
hurricane you know we're using our
robotics to switch over to sterile water
of all things and some other things so
that we can manufacture it and get it to
them at you know a reasonable price as
opposed to price scalene which KLA has
talked often about so you know cuz there
will be price Galene in in Pharmacy and
we're here to be an alternative so to
answer your question I've spent a whole
lot of money on these Robotics and
putting this together but our path is
hockey stick double triple hockey stick
and so we're taking business from them
and I think the traditional Legacy
companies in the did something did
something happen to you or somebody
around you that motivated you to go
after the pbms or with just his clinical
business analysis of like this just
doesn't make sense and it can be done
better so both um what happened was I
got an email from my partner co-founder
Dr Alex oshansky and he wanted to create
a compounding pharmacy in Denver that
made drugs that were in short supply
because there's always for whatever
reason some generic drug that is on a
shortage list and I'm like you're
thinking too small and this was right
around the time that the farmer bro was
going to jail and I asked him you know
how is it that this dude buys up a
one-year supply of der Prim the drug he
bought and just jacks it up and how does
that happen and he goes it just happened
I'm like well let me do some homework
and dig in and the reason was obvious
the industry was completely opaque the
first line in every single Pharmacy
contract and Health Care contract for
that matter is you're not allowed to
talk about it you are restricted from
talking about this to anybody anybody at
all so we had a completely opaque market
so we put together the website called
cplus drugs.com but really the smartest
thing that we did and it was
unintentional in terms of impact
we created a full price list so you can
get our 2500 drugs the actual price list
and we release it every week because
we're on a roll now where we've had
since last a year ago more than a year
ago every weekday we've lowered a price
on a drug and so we just put that out
and what's happened as a result is now
companies can just get the price list
and do comparisons to approximately what
they're paying because their PBM won't
tell them exactly what they're paying no
I got I have one suggestion for you
there mark you can make this a nonprofit
when you sell the Mavs you could donate
money to this then like six seven years
later you could flip it into a
for-profit and take it public there's
like a strategy here this could work out
exctly J exactly the point and you know
Sam mman is an investor no I'm just
kidding um and so um so we put out this
price list and all of a sudden Harvard
Medical and Vanderbilt and um the all
these research institutes took our
pricing and compared it to what Medicare
was paying for the same drugs and it was
like well this is what I was going to
ask you because CMS is now empowered to
negotiate yeah and this is sort of maybe
ties together with the governmental
efficiency and just do the obvious right
thing but shouldn't they just work with
you as an example and and why don't they
they are and it's just starting they are
right so here again I can't speak for
her to say what she's going to do but
here was the conversation I've had with
her team when it comes to reducing
out-of-pocket costs to deal with
inflation what I have told them
is one key area that impacts most
families at some level nobody dies
healthy is the cost of healthcare and
pharmaceuticals and by working by
requiring transparency in all contracts
signed by anybody anywhere in terms of
pricing you are going to see the same
impact on across the board pricing of a
decrease of 30 40% and so all that is
going to reduce out of-pocket spending
for everybody reduce government spending
for everybody and have a net positive
impact they see that they know had the
had that conversation with the
Republicans as well so that I mean seems
it makes sense for everybody I had the
coners a similar conversation like as I
mentioned you in the white house when I
went there um and it just didn't
resonate boys any any final questions
from Mark here as we uh not gonna ask me
about Elon and why troll Elon and any of
that good stuff I I want to know about
are you investing in AI techn techology
where are you investing in the stack how
do you think about that are you an
active Venture investor Mark I mean I
know we've obviously done some stuff
together but I'm curious like how how
you look at stuff so now I've kind of
slowed down I invested in grock right
with shamat right shamat is yeah let's
go right and he can tell you all the
reasons I we all I think we all have a
piece of that now okay well good so you
guys know the whole story right and so I
think that that's great picks and
shovels I think are important I think
the problem and this happens with all
new technologies is we're seeing the
Gold Rush right now where everybody
calls everything AI particularly with
agents and I think you can put all these
vertical agents together to do all these
different things but agents are just
going to be a feature not a product
because inherently in AI as it advances
and gets smarter then it's going to be
able to create its own agents for its
users and go forward from there so I've
been really hesitant now because you
know you're not going to invest in in
the foundational models I mean through a
fund I have part of um open AI but and
some others but it's that's just so
expensive you don't know who the winners
are going to be but yet everything that
everything that happens is going to be a
derivative of them what's your business
intuition tell you about that actually
so you have this crazy Capital race
between closed and open how do you think
that plays
out I think there are going to be um
tens of millions of models everybody's
going to have a model your kids are
going to have models you know their
little um invisible friend is going to
be a model that's in a you know a teddy
bear um that they grow up with so
there's going to be an unlimited number
of models but we don't know who the
winners are going to be to host those
models I have no idea and if you go back
over the history of Technology it's
that's always the case everybody there's
always a race to be the winner for the
foundation whether it was Broadband
whether it was networking whether it was
whatever streaming and everybody battles
it out and so it's okay and I for me now
I'm just like let me just wait let me
you there's a think there's going to be
or a chance at Job displacement what do
you think of like this uh Universal
basic income cataclysm I think I think
it's the exact opposite I think so I
think that in order to train a model you
need access to information and the
internet ain't what it used to be in
terms of being a source of information
right and so IP is becoming more
valuable you're not I think everybody by
this time expected um all the
foundational models to have all this
Healthcare information but if I'm Mayo
Clinic I'm not giving Microsoft or
Google or open AI my IP because that's
what brands me and so there's going to
be a lot of money available there and I
think um that there that is got to be a
way to there's got to be a way to figure
that out right first how does IP work
and how is it distributed and then how
are we using it just in general we
really don't know how we're going to
implement it or use it or what the the
interface is going to be and all that
will be figured out by some kid
somewhere so maybe just a wrap Mark so
these these next 10 or 15 years is it
about doubling down on these current
things making Cost Plus thing huge like
harvesting essentially or are you going
to do new things or does just the bar
you know when I'm gone I wanted to say
he did it was expensive
when we were sick it ain't expensive no
more and to me that's that's the
ultimate Mission now it's fun to learn
AI and you know build models and do all
that stuff right um but when it's all
said and done to me
that's let me ask you a final final
question then uh We've uh you you've
done a reality show just retired from
that cashed out of three qus of the
Mavericks check did that um helping
people with uh this Cost Plus drugs and
and saving people money it's a pretty
noble Mission kind of adds up to you're
going to run for president and there's
no way no why not it would be a great
thing to do you've checked off all the
boxes why would he too old now too old
now right Mar what are you talking about
20 years younger than Trump and bipia is
wrong I changed I'm a sock puppet in my
spare time I changed four years from now
eight years from now would you would you
even consider it or
you yeah right of our era right how
would you process making that decision
my kids hated the idea my wife hated the
idea they want you know it's hard enough
for them to have a normal life as it is
um and that just takes to a whole
another plus you'd have to run as a
republican because Democrats hate
billionaires like you Bloomberg right
you saw what happened to Bloomberg yeah
but $100 million made it to the first
question of the first debate boom
Elizabeth War knocked him out but let me
just tell you this and we don't have to
talk more about politics parties don't
exist anymore they don't they're there's
fundraising vehicles and they have
procedures in place but this is Donald
Trump he took over the Republican party
they do what he says and KLA Harris has
learned from Donald Trump give him
credit she has learned what worked for
him they're not stupid she has learned
that she has got to be that personality
that takes over and they' have got to do
what she says you haven't heard a word
from Bernie or Elizabeth Warren and
that's not unintentional she is doing it
her way now whether or not you agree
what she's doing or her approach to win
everybody can argue and that's what
makes a market but there are no
political parties anymore and the idea
of the the ideology of a party on the
Democratic side is no more in place than
on the Republican side all right so uh
with that my Nicks got a shot this year
what do you think yeah I thought the
trade was great I thought trade was
great trade was great C I think cat's
great I mean he's a little weak on the
defense but he's but with KP right
that's what they're doing how do they
match up with Boston and so KP and Cat
match up and that's why we got a shot
you're saying there's a chance Myck
might get there I'm saying you and Jim
Carrey have a lot in common there's a
chance all right everybody this has been
another amazing
episode thanks come back anytime Mark
and we'll see you all next time byebye
thanks guys that was awesome they'll
give you instructions and I upload and
I'll see you a game soon appreciate it
you guys are awesome cheers and I don't
mind arguing Dave I love to argue this
stuff right I know I know look I give
you credit you're fun to talk with and
argue with and you obviously don't take
it personally and I appreciate that and
uh yeah I give you credit for having fun
with it I know too many depressed
billionaires
so I give you I give you a lot of credit
yeah I don't get that but you know what
if you were if you were when you were
poor you're up when you're rich
right and it just doesn't change
anything I was hoping you we talk about
Elon actually well we could still go
there where's Jacob we can still go
there you can ask the question if you
want all right two of my besties last 25
years you and Elon is this uh you guys
just uh goofing on each other you got an
issue with Elon that's sincere or is it
just playful fun trolling so two things
one as an entrepreneur elon's like the
of the of the right yeah
there's I'm a huge fan what he's been
able to accomplish is insane it's
incredible I would never diminish
anything he's done as an entrepreneur as
a Twitter user he's a troll and I mean
he just trolls to troll to troll and
every good troll deserves a foil right
somebody to troll back and it's just so
easy and so much fun um now you know I
get some of the underlying principles I
think at least in my mind like when he
talks about what do you think about the
First Amendment principle that he's
doing here of like radically changing
Twitter from like it's pretty control to
hey anything goes I think that's almost
anything goes I think that's a fear of
losing um users so I think that within
the conservative Community they are more
joiners and heavier um social media
users participants yeah yeah
participants so
they they subscribe to more things they
listen to more podcasts they're more
active and I think you recognized that
and that was a fundamental underpinning
of why he kind of connected to them on
the free speech thing because he still
has its limits obviously it's his
platform and what he doesn't want
doesn't get shown so I think that's why
and I can't blame him um I wish he would
call me I'd help him on on his his
revenue and all that and then I think on
the immigration side
here's my theory and you guys can tell
me if you agree or
disagree I don't think he's
anti-immigration like he says you know
anti- illegal immigration um where
anybody who's in the country should be
deported I think as an immigrant himself
and I'm second generation you guys are
you know immigrants at some level we all
are but I think as an immigrant himself
he thinks that the number of illegal
immigrants in this country and the hate
that's pushed towards them
carries over to Legal immigrants
including himself and I think he by he
believes that by diminishing the illegal
or the non-citizens in this country and
asking for their removal it improves the
standing of the legal immigrants
including himself and so that's kind of
my theory on on both of those things
interesting yeah it's a it's certainly
different honestly I don't think you
need much of a theory to explain elon's
views because he's just so transparent
about what he believes I truly believe
that his core conviction and the reason
he bought Twitter X is because he wanted
to unlock it as a free speech platform
yeah I don't I don't think so well I
don't know how much more money he can
lose in pursuit of that go but see
here's why here's why I disagree you
don't take other people's money to do
that if he put I don't think he knew he
didn't know that he would get boycotted
by all these advertis advertisers but he
knew he knew that I think he went in
open eyes carried the sink in the door
to run it with some improvements
operationally which he did a great job
of and to taking out a huge amount of
the cost structure which he did but
Jason and I were there on the first day
the first day he took over there was an
organized boycott of advertisers and
they called him anti-semitic which is
ridiculous before he even had a chance
to one thing about that site so I've
heard from a lot of those folks um and
it's not so much
look when you talk about Free Speech
Free Speech applies to advertisers as
well they get to associate with whoever
they want to no matter what so so there
there are un unless there's a unless
there's a a collusive effort going on to
sort of organize I get that organization
just dissolved immediately so there
weren't but look I could from my own
self right I don't understand why you
won't give them credit for believing in
free speech that's clearly I I have no
problem with free speech look I've
always said people like get rid of the
anti people you get anti-semitic tropes
I get you know zillions of anti-Semitic
tropes you know in my in in my replies
just they're nonstop I mean I'm not
white you know my grandparents changed
their name to from chabinsky to Cuban
not even intentionally and so it's
always your real name is chabinsky wife
there's just the hate there is insane
and my attitude has always been I want
to know who the morons are I have no
problem with them still being allowed on
the platform but the tradeoff is for
advertisers they don't want to be
associated with that there is no upside
for being on Twitter right now or Exon
right now and you add to that the porn
kids 13 years old can go on that site
and you can find any insane thing you
want on X right now and that also is a
problem for advertisers that's part of
Free Speech but you got to pay the bill
when you're willing to accept that I
don't think he realize just how deep
users will go in order to use their free
speech and I think that really surprised
him and so that's why I don't think that
he bought it specifically for free
speech because I think he's always one
of the things I really admir I don't
know I mean he said he said before he
bought it that he was going to open it
up as a free speech platform and this is
why hold on this is why the left
immediately started boycotting him
before he even changed one policy Jake
out help me out you were there the first
freaking day I know for a fact was a
free speech mission for him I do think
you know multiple things can be true
Mark you are correct that if you have
spicy content advertisers don't want
anything to do with it and they have
choices and it's also one of the smaller
platforms they have choices that have
more scale so that makes it even easier
and it's also true that they're
boycotting him and specifically
targeting but all these things are
happening at the same time that's fair
and I and I think you know when you look
at what he's done there we'll look at it
historically as this place that was very
controlled and clean and owned by the
press and the elites became this chaotic
thing but also ultimately the one place
where at scale you cannot be cancelled
and you know if you look at cancellation
as a concept the number one place to get
canceled was Twitter you said something
even slightly off man they came down on
you they destroyed you and now now that
we've gotten rid of cancel culture and
people can say what they believe and
people can make I don't know why it's
necessary to find I do think let just
finish the thought I do think that that
will be looked at as a beautiful thing
that he gave to society as a gift and it
will be looked at as a a really
challenged business because it was an ad
business that lost its advertising base
and apple and Disney have choices I
don't see the need here to look past or
or to look for an ulterior motive in
what elon's doing Elon believes in free
speech it's very clear he's run the
platform that way and it's cost him
money so what else could the motivation
be except his principles obviously but
he was also addicted to it I can tell
you that as the person who got him I
know but that's not that's not why he's
running run as a free speech let me give
you my calendar to that you know him
better than I do I why why are we even
having this debate who cares I mean I'm
just CU he run he's running as a free
speech platform yeah and that's fine
obviously it's his choice that that is
free speech by Def let me ask you
actually to me this debate is is kind of
pointless but let's let's talk about
actually the the issue there's a new
story this week where open AI just
raised was it six billion at150 billion
valuation
um they originally started that
Enterprise with 50 million or so from
Elon it was a nonprofit then they became
a for-profit now there's a report saying
that they're telling investors in this
round that they can't invest in any
other AI companies so they're acting
like I mean they've gone from nonprofit
philanthropy to piranha for-profit
company that's pretty sharp elb Sam is
sharp elbow Sam said he wasn't going to
take compensation now he's getting
compensation yep I mean what do you
think about this I mean look it's their
company they get to do what they want
period false pretenses I mean if but
then don't but but don't invest I mean
he didn't invest he gave him a donation
let me which leads to something I want
to say very positive about Elon put
aside his genius in coming up and
running these companies the one thing I
I respect the most about Elon Musk and
he does more than anybody I've ever seen
and that is he goes all in he doesn't
just you know he takes every scent he
has and he believes in it and he goes
all mother in he never Hedges his bet at
all until Twitter right that's why I say
you know he brought in investors you
know he brought investors to Tesla and
everything but initially he went all in
himself you know I think with Twitter I
think he was kind of surprised but going
back to open
AI I don't I wouldn't do business with
people like that and there are people
who just look for what think is the next
big thing and I certainly could have
given him money didn't give him money I
said one of our funds that I'm in G did
give the money originally didn't give
them money another time to me that's
just wrong and that catches up to you
when people over investors and whatever
it always comes back karma's a in
business too now you know Gemini with
Google I've done a lot of stuff with
them notebook is insanely good Gemini
1.5 is insanely good meta as open source
on what they're doing doing is getting
better and better there is no you know
it there's nothing that says that open
AI is going to win nothing at all and so
I don't feel bad about what they're
doing and to me it tells me they're more
scared than anything by trying to
restrict what people are doing y That's
perspective is it says it's more a
reflection of Sam than anything else is
is what you're saying yep well I mean
that would be reflected in the fact that
so many people who are the co-founders
have left yeah um that that's a really
big red flag this thing is going to
change the world every all the
co-founders leave I heard 40 of the 44
co-founders left yeah the original
employees I mean I don't know if that's
true but that's and then if you well I
mean if you also think about this
business chth and where it's headed
sorry there wait there were 44
co-founders the Donald Trump c m thing
yeah yeah no but I mean if you we we did
a joke about it last week but if you
just look at the the competition set
that they're up against they're losing 5
billion a year they're making three and
a half they put this thing at 150
billion it's 40 times 50 times Revenue
to fill in that valuation on a price to
sales basis you know it's kind of crazy
here's the one thing that I'll say and I
think Mark said this in a different way
but I'll just I don't think you can
underestimate how companies like Google
Microsoft Facebook Apple Amazon will
react when they feel cornered and I
think in in the last 20 to 25 years what
you've seen is those companies when
their backs are against the wall they
use money their sharp elbowed but the
consistent thing is they've won and so
the real question is do people look at
the chart of the users because typically
what happens is it's users what tilts
these companies when something some
upstart you remember when Snapchat was
about to explode yeah there was a
decision we're going to decapitate this
company Facebook did that they relegated
it to
the Zinga there's many so the real
question is when they see that this app
is going to be at three or 500 million M
and they appear on some list where
they're bigger than I don't know pick
your favorite app inside of meta or
Google ever yeah will they freak out and
if they do freak out what do they do oh
I can tell you they're freaking right
now oh yeah it's an it's an existential
risk to them right and the crazy I mean
look what Microsoft did they
bought thre Mile Island the nuclear
reactor they bought it everybody's
looking for the ankle and the crazy part
it's really crazy yeah there used to be
Mo's law that everything followed right
the price performance curve always went
like this you know when power goes up
now because you don't know you don't
know what you don't know and what you
need to do next that's part of the
challenge that um Elon has with Tesla in
terms of full service driving you don't
know what you need to do next to get
there to solve problem you have a Tesla
Mark I do and I do also I also have a
Kia EV I have a Tesla EV and I have a
Kia EV do you use the FSD and if so how
is it what do you I have but I I stopped
using it just because it terrified me um
because it doesn't know what adversarial
things that doesn't know because you
know you know anything that's
adversarial that something it has to
train on something that's seen and it's
not smart enough to um figure out what
it hasn't seen and whether or not it's a
risk and I've said this before my my um
four-year-old mini Australian Shepherd I
can put it in a risky situation to cross
the street and Trust it'll get across
the street no matter what it is it
doesn't have to be pre-trained you can't
do that with um full service driving yet
and so until that gets to where it needs
to be where adversarial issues aren't an
issue I'm not going to fully trust it I
have the
12 Mark you've been really fun to talk
to so good to you this has been over
time with the Allin podcast with Mark
Cub we'll see you all next time got it
guys thanks so much love you
byebye let your winners
ride Rainman
David and in said we open source it to
the fans and they've just gone crazy
with it love queen
[Music]
of Besties are
that's my dog taking a your
driveway oh man my habit will meet me at
we should all just get a room and just
have one big huge orgy cuz they're all
this useless it's like this like sexual
tension that they just need to release
[Music]
somehow we need to get merch our
[Music]
I'm going all in
Ask follow-up questions or revisit key timestamps.
Mark Cuban joins the All-In podcast to discuss his views on the 2024 election, his complex history with Donald Trump, and his business ventures, particularly Cost Plus Drugs. The discussion covers his reasons for supporting Kamala Harris, his take on inflation causes, and his thoughts on current AI developments and entrepreneurship.
Videos recently processed by our community