I'm glad they got these pictures of this

guy. At the same time, this is an edge

case. They're they're keeping your video

that which I which everyone thought they

were doing and they said they weren't.

>> Hi everyone, this is Pivot from New York

Magazine and the Vox Media Podcast

Network. I'm Cara Swisser.

>> And I'm Scott Galloway.

>> Scott, we just did a great on with Cara

Swisser about resist and unsubscribe,

but I'd like

>> you have another podcast. Did I find

that out? This

>> dude, you were quite substantive. Where

are we right now? Give us a quick

update.

>> Uh, it lulled Tuesday and Wednesday. It

appears to have come back today because

Chelsea Handler, who reached out to me,

posted something of all the things she

was unsubscribing to. And just to give

you an example of how much impact one

person can have. Uh, I went on AI, I

went on to my site analytics. I think

she just that one video she did on

Instagram, that one post is going to

inspire 6 to 7,000 unique site visits.

conversion of 5% that's 300 people

unsubscribing average of two platforms

600 unsubscribes average 200 that's

$12,000

times or excuse me $120,000 times 10 so

$1.2 $2 million in market cap getting

taken out of these companies because of

one Insta Post. So,

>> Right. Exactly. And, you know, I'm going

to see her uh tomorrow night, I think.

Um, tomorrow night. She's here in DC. We

should get them all to do things like

that. Let's let's reach into the celebs,

we know, and get them to do.

>> I'm going to bug them all.

>> Okay.

>> I like it. Thank you.

>> Yeah. If they do that and put even just

one thing up, it matters and it's an

easy thing for a lot of them. And they

>> what people don't realize about about

economic protests, the most famous one

was a Montgomery bus strike. It wasn't

the one cinematic moment. It was it was

um an organization of thousands of car

pools over the course of a year.

>> Yeah.

>> So it takes it takes a while, but

>> any individual who subs unsubscribes

from Open AI OpenAI right now is taking

$10,000 out of their market valuation,

>> which is great. And that

>> and there's a substitute, the free the

free chat GBT

>> and also all kinds of other free

services. Gemini, all the others, you

don't have to pay for it necessarily.

And by the way, you can use things for

free. You're taking stuff from them,

right, without paying them. Like paying

is the issue is what you pay for. So

just keep that in mind. Everyone's like,

"Oh, now I can't use Google." I'm like,

"No, it's free."

>> Well, just just to give an example how

how these this unsubscribes to these

recurring revenue tech platforms or tech

companies, T-Mobile just had an earnings

call. They were projected to add 992,000

new subscribers. they added 962. So

30,000 fewer because 30,000 people

didn't show up for subscription. So not

only do these do these actions punch

above their weight class in terms of

economic impact, if you take if Sam

Alman is grows his subscriptions 7 12%

versus 8% month, he's not going to close

his $850 billion round.

>> Yep.

>> So this is literally this is the string.

If you if if you don't have the time or

the energy to do some of the very other

important work, whether it's protests or

or or calling your congressman, you can

have a massive impact by unsubscribing

right now.

>> Yeah, you can. Now, speaking of which,

and something the administration does

care about, Attorney General Pam Bondi,

who we'll talk about more in a minute,

was testifying in front of the the Jan,

crazy Jan, was testifying in front of

Congress about Epstein on Wednesday. She

made it clear she'd prefer to be talking

about other things. What did she zero in

on? Let's listen. Dow is over $50,000. I

don't know why you're laughing. You're a

great stock trader as I hear rascin. The

Dow is over $50,000

right now. The S&P at almost 7,000

and the NASDAQ smashing records.

Americans 401ks and retirement savings

are booming. That's what we should be

talking about.

>> Well, she's not the Treasury Secretary,

but this is what shows what they care

about. They really do. the fact that it

was inappropriate to bring this up in

here given they were talking about

victims sexual uh uh abuse victims, but

nonetheless, this is what floats their

boat is is this money, right? And so,

let's also listen to a great idea one of

our listeners sent in.

>> Every child of an elderly person should

also go through all of their parents

subscriptions. I went through my

mother's this weekend and was able to

take $125

off of some bills by unsubscribing

subscriptions she didn't even know she

had.

>> That is a great idea. I do that with my

mom all the time and I'm trying very

hard to take the New York Post off of

her subscriptions.

>> Two years after my mother died, I found

that Geico was still taking $220 out of

her bank account a month for car

insurance.

>> Wow. Crazy. if you don't, and I've used

this example before, when I unsubscribed

from AT&T, went to Noble, I'm saving

about 20 or 30 bucks a month, but in

addition, I found out

>> I had four accounts with AT&T for

Blackberries and iPads, which have been

in landfills for years, cuz I never went

on and unsubscribed them. And even

though they know they're not getting a

GPS signal from these things, and they

could send you an email saying, "Hey,

you know, you're paying 70 bucks a month

>> for something you haven't used in 5

years,

>> you're going to save money. It's these

companies are very good at figuring out

a way to get you to subscribe and get

you to forget that it's coming that this

money is coming out of your pocket every

month.

>> Yeah. You know, there's a couple

services and I don't have the names to

show where your subscriptions are and to

unsubscribe, but this is a better way to

do it. But then you can use those

services to find them all over the

place. You'd be surprised of what you're

I found an AT&T thing. I was still from

when Apple first had the iPhone when

they had unlimited if you remember.

Anyway, uh it's a great thing to do.

Keep going. We're going to do more.

We're gonna every little thing we can

pull on. The administration cares about

this issue. Uh it's the only thing left

is the DAO at this point. The fallout

from the

>> What's that $50,000? She's the [ __ ]

attorney general. She clearly knows

nothing about economics. What is she

talking about? She called the Dow.

>> I know. Also, also calling a

representative Rascin. Who does [ __ ]

does she think she is? She's in his

house. She's in his house. He calls him

Rascin. I'm going to call you Galloway

when I use your house. Hey, Galloway.

Anyway, the fallout from the Epstein

files continues. Speaking of which, as I

mentioned, crazy Attorney General Pam

Bondi, who really needs to be medicated,

testified before the House Judiciary

Committee on Wednesday, and things got

heated. She soiled herself multiple

times. Um, Bondie sparred with

Democrats, not just Democrats, over DH's

handling of the Epstein files and

refused to apologize to survivors. She

wouldn't even look at them there. It

turned out she's never talked to them.

She also clashed with uh GOP Congressman

Thomas Massie. Massie criticized Bondi

and the DOJ for failing to redact

victim's names while blacking out the

names of businessmen uh businessman Les

Wexner. Let's listen to the exchange.

>> Within 40 minutes, Wexner's name was

added back

>> within 40 minutes of me catching you

redhanded.

>> Red hand. There was one redaction out

and we invited you in. We This guy has

Trump derangement syndrome. He needs to

get You're a failed politician.

Uh really crazy crazy craziness I have

to say. I just don't know what to say.

She's What is wrong with her? Like ser

speaking of derangement syndrome. Like

honestly I don't know what she was doing

up there. I know it's an audience of one

but he can't even find this impressive.

It's grotesque. I mean I don't know.

>> Yeah. It really feels like we have

>> wheels are coming off. I mean it's it's

it's a shame because it's just so

>> it's a serious issue

>> weird and it's the attorney general

making a mockery of the institution and

just

u no no decorum but for I'm curious what

you thought about the hearings but the

moment that I found really chilling

was when I think it was representative

Jaipal

had um some of the the survivors uh

stand up and asked how many of them have

reached out to the DOJ

>> to provide evidence or input, but all

these survivors stood up.

>> Yeah.

>> And it was clear they've reached out to

the DOJ and the DOJ has um has is has

ignored them. And you thought, let me

get this, the Department of Justice

>> investigating what is arguably may go

down as the crime of the century to date

>> and survivors and people with direct

knowledge about what happened or what

didn't happen. They could also, quite

frankly, they might exonerate some

people.

>> Right. Exactly.

>> They don't want to talk to them.

>> Right. Right. And she wouldn't look at

them. That was another moment. She

wouldn't turn around. She wouldn't do

it. She This woman is insane. I just I

don't She a crazy one. She's like, it

was so strange. And And I know this

audience of one they always do, but in

this case, I was like, "Wow, you people

are desperate and terrified of what's

coming next for you." You know, I

thought Massie was effective. I thought

Becca Balant was effective. I thought

Gipol's effective, Rascin, um I thought

they all one of the things someone who

works there said, "How do you think it

went?" And I said, "The only problem

with this kind of thing was you lay down

with pigs. The only one only people that

like wrestling with pigs are the pigs,

right? If you get in the mud with them."

But I thought they rel they relatively

handle it well. It's just that the the

craziness is what gets attention and not

the victims, right? It becomes a

ridiculous circus. And on some level,

what was interesting is Fox didn't show

it, right? They they they they keep

they're obsessed with the Nancy Nancy

Guthrie kidnapping, which is a terrible

thing, too. But they're not even airing

it. They don't want to see show you the

crazy like and any normal person looking

at this would be like, "What? Honey, you

need some you need some therapy like

stat kind of thing." And you're you

know, and what happened to you? So, I

thought that was it was a really

interesting This Epste thing isn't going

away, Pam. I'm sorry. It's just not now

cuz it's so very clear that you didn't

do your job and neither did people

before you, by the way. But guess what?

>> It's a valid point.

>> You're in the chair now. I don't really

>> It's her It's her DOJ.

>> It's her DOJ

>> and her boss her boss is mentioned

>> in the Epstein files more times than

Jesus is mentioned in the Bible or the

term meth is mentioned in Breaking Bad

over eight seasons. And I felt like

every day, every time yesterday, she

>> she claimed that, you know, the

president had been the most quote

unquote transparent president. When she

uses the term transparent, I think some

somewhere there's a thesaurus filing for

protective custody. It's just

>> why are you laughing at me was just

and al just it's it was so weird. It's

so weird. It's so culty. It's so

strange. One of the things I do think is

effective is a lot of these Congress

people are going in and seeing

unredacted versions which are very

upsetting. um

>> when they come out and they look like

they've seen a ghost.

>> I know. Even Cynthia Lumis who was I

didn't know it was there now. Whoa.

Whoa. Folks, like Cynthia Lumis, I'm so

glad she's leaving politics. But I have

to say, even someone like that who

literally puts in the least effort

possible. Um same thing. They're looking

like, "Oh my [ __ ] god, you're kidding

me here." And you know, nobody's

>> I got to be honest. I didn't I didn't

realize it was this bad.

>> Yeah. when the more information you you

read about this

>> Yeah.

>> in terms of the number of victims.

>> Yeah.

>> In terms of how many people were

involved, uh how many

>> how many opportunities there were to

stop it.

>> Yeah.

>> And it just gets the web keeps getting

deeper and uglier.

>> Yes. And the lies like when commerce

secretary Howard Letic was on Capital

Hill this week as well. He told the

Senate committee he and his family had

lunch on Epstein's island in 2012, but

insisted he'd not have a relationship

with him. Of course, this was he had

given this sort of haha interview with

one of these right-wing outfits where he

said, "I never in that."

>> He was indignant. I was disgusted by him

and I said, "We're never we're going to

have no contact with him again." And

here's the thing.

>> He took his kids. I I I took my four

kids and their nannies and I got all the

kids off the island. That by

>> But this is the thing. It's not It's

It's not It's usually not the the

infraction itself. It's the cover up. If

he had said,

>> why'd he say the first thing? That's

>> But if he had just said right up front,

he's a neighbor. He had powerful

friends. I didn't do the diligence I

should have. I went with me and my kids

to his island once cuz it sounded like

fun.

>> Yeah.

>> Okay. Poor judgment, but go along, get

along.

>> Instead of trying to wrap yourself in

some sort of indignance that you

immedately smelled a rat and you're

lying

>> and you decided to

>> I mean, if he just come clean in the

beginning, said like, "Yeah, it was bad

judgment. took my kids to his island,

had a lunch. I'd heard he was a big

philanthropist and who knows maybe it

was okay. All right. Bad judgment. Move

along. But it again, it's the cover.

>> He had to take a laugh. He had to take a

I'm so pure laugh. And he that's cuz

he's a [ __ ] Let's let's be clear. This

guy's a [ __ ] And people are asking for

him to resign. He really is a liar. He's

a liar and a [ __ ] And it doesn't mean

he had to do anything, but he's a liar

and a [ __ ] The one that one that's

interesting under scrutiny is

entertainment executive Casey Wasserman.

Chapel Rowan and other artists have cut

ties with Wasserman as is their right

after latest file show exchanged emails

was Julian Maxwell seemed to have some

kind of relationship with her probably

extramarital who knows who serves as

chairman of the LA Olympics organized

appears to be holding on to that role.

They're backing him. There were other

names floated to take his place. He let

me be clear for people not letting him

out but it was 2003 before any of this

was known. He may have been able to pick

it up. That's different. Um but uh but

this was well before the first

conviction, the first um sweetheart deal

that Epstein did with in Florida. Um so

he's even even he's under scrutiny and

people are cutting ties. And again, this

is this artist right. They don't like

the cut of his jib. That's perfectly

fine. In his case, there's just the the

blast zone of this is so far right. It's

really

>> it's so indiscriminate. And again, I go

to the following.

>> Yeah.

>> If we had an institution we could trust,

including the Department of Justice and

the institutions that actually assembled

these files, if they could go through it

and go, "Okay, there are three circles

here. There's people who either engaged

in provided infrastructure or trafficked

and facilitated crimes, we are going to

release those names in the form of grand

jury indictments, and we're going to go

after these people." That's the headline

here. That's what the Department of

Justice isn't supposed to ruin people's

careers. It's supposed to create an

incentive system where people follow the

law by prosecuting criminals and

exonerating people who are not guilty.

That is what they are there to do. And

then the second circle, and this is a

harder one, is okay, if a cabinet, if a

cabinet member has clearly lied under

their testimony or under oath, should

they release that information? Didn't

didn't commit a crime. This is Howard

Lutnik. Should the president, who has

not so far been accused of a crime, if

he's mentioned in this thing 6,000

times, should we release that

information? I think that is a really

important point. The biggest circle,

quite frankly, is go I have seen on Tik

Tok and on Instagram people talking

about models, how they talked about

going to a museum with Jeffrey Epstein

and we should no longer uh have anything

to do. They're trying to shame all these

people and it's like, you know what,

folks, that's just pure gossip. And

unfortunately, the ring light shaming of

all these courageous, virtuous people

when they're behind a a keyboard and

have much higher standards for other

people than they do for themselves, that

is distracting from what the Department

of Justice is supposed to do. And that

has put pedophiles in prison.

>> Yeah, I would urge people to read. It

was really interesting. you know, Kathy

Katherine Rumler, who's the the legal

head of Goldman, you know, she was she

had a lot of emails and very chummy kind

of emails with Epstein going on for a

while. Um, I thought Bill Cohen did a

great job talking about why she was in

that relationship and most of it was in

fact she was professional. She's looking

for work, right? And that's a whole

different

>> guy who knows rich guys who can send me

a for wealth management.

>> Yes, exactly. So I would urge people to

read that and again one or two of them

and and one or two places she when he

said oh I it was only prostitution she

goes that's justice abusive Jeffrey like

she she unfortunately he kept saying

there are gifts there was a business

relationship I thought it was it was

actually a really um complex situation

that made me think god if she was a guy

and she did like golf with him she'd get

off because she was a woman was vaguely

flirty kind of she wasn't like it was it

was a great piece cuz it made me rethink

I was like okay like not great judgment

right should have known better should

have stopped talking to him after the

first thing um but didn't business it

was just interesting it was it made me

think a lot I recommend Bill Cohen's

column in pock and I thought this was

this is his area of expertise in finance

and I thought okay I got this is why

there she was he was trying to explain

why they haven't let her go, right? So,

I thought that was interesting. Anyway,

um speaking of uh um power, six

Republicans joined Democrats in the

House on Wednesday to vote for a

resolution aimed at ending President

Trump's tariffs on Canada that it's a

symbolic gesture, even if it clears the

Senate. Uh Trump would veto it, but that

didn't stop him from making threats.

Trump posted on True Social, that any

Republican who votes against the

terrorists would seriously uh suffer

consequences come election time, and

that includes primaries. Uh I think he's

losing the grip, as they say. What what

do you think?

>> Well, there's some new data that shows

that about So, the initial notion was

the tariffs would

uh mostly be paid by either

corporations, sort of a populist thing,

or the uh uh importer or excuse me, the

exporter themselves, the the country

would absorb it or whoever was sending

the products. It ends up and there's

finally analysis 94%

of the costs have been borne by US

consumers and then the other 6% have

been borne by companies either deciding

to take a bit of a hit or the the

importer themselves or excuse me the

exporter themselves reducing their

prices. You have about 15% of the

economy is um imports.

It they thought the tariffs average

around 20% so that's 3%. some managed to

get out of it. So, call it a 2% to the

economy, but the problem is it's an

unnecessary 2% hit to the economy. To be

fair, it hasn't had the catastrophic

effect a lot of people thought it was

going to have, but in a weird way.

>> Well, if Yeah, it's just

>> I feel it myself and the shelves are

emptier. It's weird. I never have

noticed that.

>> Well, but why reduce people's prosperity

by 2% for no real reason? It doesn't

cause growth. It doesn't cause

innovation. And all it's doing is is is

urging or reconfiguring the supply chain

>> around the United States. The EU is

entering into an agreement with

Merkasaur. There all kinds of new trade

zones being opened up such that people

are not as reliant on the US. And a

weird a weird thing though is that if

his tariffs are overturned

in by the Supreme Court or by the

Congress, I actually think the markets

will rip. So, in a weird way, it could

end up it could end up helping him if if

these things are turned back. I think

the markets will scream if these tariffs

are found to be uh illegal.

>> Yeah. Well, we'll see. And although

apparently he's got all these plans to

put other kinds of fees in place to take

their place that are that he that he'll

have to go back to court and stop him

for those. He's doubling down. This is

something he's talked about for years.

So, I don't know if he's going to back

off so quickly and take the

>> take the victory here. He'd like to take

the L. Honestly,

>> I don't know. No, they you know that

lunatic Peter Navaro talks about him

like that we have a whole bunch of

things to happen if the Supreme Court

>> overturns this. What's taking the

Supreme Court so long by the way?

Anyway, uh we'll see what happens. I do

think on the broader sense that there's

lots more um Republicans willing to push

back because of their own political

survival is not linked to Donald Trump

as much anymore. The other thing is it

looks like they may lose control of the

House.

>> That's right. Another person's

resigning, right?

>> So, you know, they're one they're one

sick person away from losing having the

Democrats in control. So, it's a really

interesting time. He doesn't have the

the power is slipping away and that's

why he screamy Pam or this nonsense and

stuff. So we'll see more of that I

think. Um okay Scott let's go on a quick

break. When we come back social media on

trial very important case

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Scott, we're back with more news. A

landmark social media trial got underway

this week with Meta and YouTube accused

of deliberately designing their

platforms to addict young users. You

think the lawsuit is the first of more

than500 similar cases to go to trial.

This is something that's been building

for a long time. The plaintiff's lawyer

is arguing that his client, a

20-year-old woman, got hooked on these

apps as a kid because they were like

digital casinos delivering dopamine

hits. Instagram head Adam Msari uh

testified on Wednesday that he doesn't

think users can be quote clinically

addicted to the app. Adam Msari is not a

doctor, just so you know. I can't

believe he said that. It was kind of a a

mistake on his part. Meanwhile, and also

he's wrong. Meanwhile, YouTube is

arguing it's not social media, it's an

entertainment platform like Netflix and

it's not addictive. That is also not

true. The jury, anyone who has kids

knows that. Uh it's very different from

Netflix. The jury trial, I mean, it's

become more like Netflix recently, but

it's also an addictive situation. The

jury trial is expected to last six to

eight weeks with Mark Zuckerberg and

YouTube's Neil Mo expected to testify.

This is a really important trial. The

big names are coming out and talking

about an issue you and I have talked

about for years. Um, what what are the

actual effects and who is responsible

for creating an addictive product? And

I'm sorry, Adam. I'm not a doctor

either, but any fool will tell you it's

anyone, not fool, any person will tell

you it's addictive. Anyone who uses it.

Um, and you design and there's so much

proof that you've designed it like a

casino or a cigarette or whatever it

happens to be. Thoughts?

>> Well, imagine you're 14 and someone you

go into your room and if you were like

me, your mom wasn't home until 6:00 or 7

p.m. and you're home alone.

>> Gilligans Island

>> and yeah, that's it was Bugs Bunny and

Gilligans Island and I Dream of Genie

for me. But what if in the corner there

was a casino? What if there was an

arcade? What if there was?

What if there was unlimited music? What

if there And then you say, "No, no, no.

Study. What if there was the high school

cafeteria where I could say something

mean about someone else or someone could

say something mean about me and all I

could think about the rest of the day

and night was what they were saying

about me?" That the high school

cafeteria never never left. And it ends

up that about 6% of teenagers are

clinically addicted or or meet the

clinical definition of addicted to

either drugs or alcohol. But under that

same those same standards, 24% are

addicted to social media. And just some

data, the average American team teen

spends 4.8 hours a day using social

media. 16% of teens or one in six use

Tik Tok almost constantly. 15% for

YouTube, 13% for Snap, 12% for

Instagram. And roughly half of all teens

report feeling addicted to social media.

And you say, well, okay, fine. What's

the impact? Teens who are in the highest

use group expressed two times more

suicidal intent or self harm than those

in the lowest use group. And the highest

use group also express poor uh body

image at three times more than the

lowest use group. And it typically takes

a society or it takes America 20 to 30

years to respond to really negative

externalities. Took us 30 years with

tobacco. It took us 20 years with

opiates. And if you think about social

going on mobile in 2012, it 20 years is

probably the right number. I think when

I'm I mean parents always ask me what

should I do with my kids and I say how

old are your kids? And if they say three

or five, I'm like, we'll have it figured

out by then because the data here is so

overwhelming and we're up against uh

intrigence and people trying to delay an

opuscate similar to those tobacco

executives and they have more money and

they're more skilled this time. But

eventually the tide, the tsunami of

parental concern here, you know,

understandable parental concern is

washing over all this [ __ ] where so

I think in I would say I mean you have

entire countries now age gating. Look at

what Australia is doing. I think another

two to three years I'm hopeful the

landscape's going to be much different

for children. The the remedies would be

warning sign there's lots of remedies

like with cigarettes peopleating age

gating warning signals um they check

ages legal liability the age checking is

harder

>> what every what every other substance

company and manufacturers media company

is subject to

>> they've got to be kidding you know

there's so much you they have so many

emails of them talking about this that's

the problem for Adam is sorry to say

this he doesn't think it's clinically

addictive come on Adam, come on. We all

think it is. We The problem is every

adult knows this in their bones, right?

It's like

>> cuz we're addicted.

>> We're addicted. Like, we are. It's a

problem. You cannot put it down. And it

is different from television. It is very

different. And television. Listen,

Gilligans Island's addictive enough. I

can't believe I watched all that [ __ ]

But you can walk away from it in a way.

You cannot walk away from this. It's I

find myself I'm I have to throw the

phone across the room, right? Sometimes

I'm like, "Put it down." Um, you know,

every Amanda, same thing. We just It's

really interesting. And sometimes I

think about it. I'm like, I like news

and I'm read I'm mostly reading news,

but I don't stop. That's the difference.

I put down magazines. I put down

newspapers. And I love news. So, this is

the all this stuff as it gets out, as

you see the emails in inside the company

talking about it. And especially early

on, they knew just what they were doing.

And um perhaps they weren't meaning to

be malevolent at the beginning, but it's

malevolent for many young people and the

impact is huge. And then they just keep

doubling down with AI relationships and

synthetic relationships and everything

else. This is the time has come round at

last for these companies. We'll see how

well how how this trial does, but it's

going to it's going to just uncover more

and more about what they knew. very much

like the cigarette companies.

>> When you have hundreds of billions of

dollars in shareholder value, trillions

of dollars of shareholder value, hundred

billions in revenue, millions of some of

the brightest people in the world, and

trillions of data points, all trying,

all aiming towards one thing. How do we

get people to spend one more second

every day on social and less time

somewhere else, whether it's sports,

friends, studying, sleep, and they're

winning. And young people, especially

young men, who have this tremendous fall

in their brains where they're constantly

dopah hungry, they're up against an

indomitable foe. And then the other

>> like sugar. It's like sugar. It's the

same thing. It's the same.

>> And then there's two or three. But your

kid your kid can take, you know, a 10

pound bag of sugar into his bedroom with

him.

>> The the the other kid my kid could, but

go ahead.

>> The other two things it is a cumulative

effect that I think have really hurt our

youth are one. I do think parents have

some culpability here and that is we

have decided that our job is to clear

out all borders and obstacles for our

kids. We engage in concierge and

bulldozer parenting and by the time the

kid gets to college he or she has never

had a sea or a disappointment

>> and we've created this princess and pee

um generation with good intentions. We

thought we were doing our kids a good

thing. And then something that doesn't

get talked a lot about but I absolutely

think is adding up to a generation that

is at a disadvantage and that is if you

are 21 since the age of 10 the person

you are supposed to look up to most in

the world is Donald Trump. So

performative verality, coarseness and

cruelty,

>> online scams,

>> crypto, doubling down on lies. This has

been the role model

>> as kids brains are being wired during

puberty. And no matter who is president

or what you think of the office,

>> president is the person that millions of

young Americans look to as the as the

ultimate of success in American values.

So what have we done? We've raised a

generation of kids who are dopah hungry

and their primary role model maybe with

a close second the richest man in the

world

>> the greatest control of all time

>> are exhibiting values that are very

>> I mean and what do you know these 21

year olds are not it's shocking it's

shocking what good people they are what

they have to deal with

>> I would agree I think they do resist

more than you think and actually there

are a lot of parents one of the things I

spent a lot of time doing with my kids

whenever like can Can you go get this

from me? Can you talk to that person if

they wanted something? I'm like, you

need to do it. Like you I you figure it

out has became one of my lines with my

kids, my older kids. You figure it out.

I do it with my younger kids now. With

Saul, I'm like, you figure it out. I

don't know. I know, but you can do it

yourself. And so that's it's the best

piece of advice you can give to like a

kid. You

>> I've started giving my kid pounds when

he gets good grades. Is that wrong?

>> I slip him I slip him a 20 pound. And I

slip him a note when he gets an A on a

test.

>> Do not do that. Well,

>> totally.

>> No. No.

>> Anyway, um

>> that's called that's called capitalism.

>> Okay.

>> You got to get a bunch of money.

>> Okay. All right. Whatever. Whatever you

want to do there, Scott. We should write

competing parenting books. Uh in the

same genre about surveillance, as you

know, that's another thing I go crazy

about. Um investigators in the Nancy

Guthrie abduction case have recovered

footage from the Nest doorbell. Nest is

owned by Google. It was initially

thought to have no video because there

was no active subscription. When you

sign up, you have, for people who don't

know, for Nest or any of these things,

you can buy a subscription. If you

don't, they say they don't keep the

video. As it turns out, they do. The

incident shows that Nest uploads video

to Google Cloud before you decide to

keep it with a paid plan so it can

linger after it says it's been deleted,

is supposed to be deleted. I'm glad they

got these pictures of this guy. At the

same time, this is an edge case. They're

they're keeping your video that which I

which everyone thought they were doing

and they said they weren't. The FBI

working with Google engineers took 10

days to recover the footage from

Guthri's camera. I the companies need to

spell out in plain English how long

deleted footage actually remains on

their servers. And by the way, they're

also getting incredible push back from

the Ring ad for the Super Bowl, which is

like, "We're watching everybody, but

only for your dogs." And there's been a

million memes about only for people we

need to take away. like the surveillance

of these kind of things and the ease of

which they are hacked by the way not

just taken off the door like this

terrible person did um but hacked into

are quite something a lot of people are

getting them hardwired into their house

so that they can't do that and also so

that they can't be um taken via wireless

there's a lot of wireless activity here

but there are ways to a lot of these

things are open season on your home I

don't when I Just speaking of my son, my

kids, Alex took I had one of them up at

one of our houses when we bought it. It

was there, one of these Amazon or Echo

or whatever. He took them all out. He

took one day I came back and everything

was gone. And I was like, "Why?" And he

goes, "Because they can watch us." And I

was like, "Don't be paranoid." He goes,

"I'm not." And he was right. So

>> I think we're I think we have a bit of a

different view on this in the sense that

I think technology I think we gave up

our privacy a long time ago. Yes, Scott

McNeely, we did

>> what I want to see. Oh, remember Scott?

>> Yeah, he said that

>> privacy doesn't exist. Get used to it.

Remember,

>> if you are in London or New York, you

can't go more than I think it's 30 feet

agree

>> outside without a camera.

>> And the reason they did that was they

implemented massive they have like a a

security headquarters because of 911.

And I actually what I think you need

though is really really wellthoughtout

laws and institutions that say we're not

going to go fishing unless it's a felony

crime. We don't investigate it.

>> In other words, people have the right

You said something I've thought about a

lot and that is people have the right to

have secrets.

>> Yeah.

>> And if you want to if you want to go

into a store, if you're I don't know,

you you should be able to do what you

want. If you murder somebody then quite

frankly and there are enough there's

enough evidence to say that you are a

reasonable person of interest then we

are going to utilize uh cameras data

video footage

>> I agree with you I just think you buy

this product and it says it isn't

keeping it if you don't pay for it then

it's not keeping it like I'm sorry

that's just the deal that's just the

deal when you buy I have several of

these and I've taken most of them off my

house, but they say ex and I pay a lot

of attention. We if you don't pay this

stuff is deleted. This is deleted. If it

says it's deleted, it should be deleted.

That's all. It's just the deal you make

with them. And so I don't think they

should keep it if it's supposed to be

deleted. Same thing with Echo. It

shouldn't be listening if it says it's

not listening. Right. That's what that's

if you want it to listen, you can tell

it. That's in your home. I'm talking

about this outside. I think we've lost

that battle. They're going to their

cameras are everywhere in talk about

London. Monte Carlo is really wired. So

is the United States of America. And

that's a good thing when it comes to

crime, but it's a very bad thing when it

comes inside of your house. Cuz Scott, I

know if you want to wear your frilly

underwear, I think I Oh, wait. Was that

a secret? Um, I back people in their

homes. I'm just

>> Daddy goes commando. Big and the twins

want to be free. But I I think it's it's

in this case it was good to be able to

get the picture of this guy. At the same

time, she didn't the intent wasn't to.

So if plain English of what you're doing

and how long it remains and then it

should tell you when it's deleted and

permanently deleted. If they say

permanently deleted, it needs to be

deleted. That's I I feel like that's

>> at some point you should be able to

have, you know, I have cameras around my

house. You can see almost everything.

I try to sneak in all the time

>> if someone were to break in. But I think

what you want is like

this is the hack that I think is coming.

Somebody hacks into Uber with your Uber.

If you use Uber a lot, I think you can

find out when someone is with a thin

layer of AI on top of your Uber trips

where

>> they go.

>> Mhm.

>> They'll be able to know if you just

terminated a pregnancy.

>> Yep.

>> Or if you're a Russian spy. Why is this

person continually going to the Russian

embassy? Why is this are you having

affairs with sameex?

A thin layer of AI on top of your ride

history when and where you are going

places.

>> It would be they would it would be very

easy to say, okay, this person is

clearly suffering from diabetes. This is

why they keep going to this

>> type of clinic. You could. This person

is clearly engaged in a love affair with

this dude at this address. This person

is clearly

>> sure is constantly going to Amtrak. But

go ahead.

>> This person is clearly cooperating with

the CIA as evidenced by the fact they

keep going to this one address that is a

co. They could find out. So that hack,

folks, this is this is the trade we all

make and we all talk a big game. Anyone

who talks about privacy is typically

over the age of 50 and in Brussels or

DC. We consistently trade our privacy

for utility.

>> Yep, we do.

>> And and what I want is massively

Okay. Unless it's a felony, maybe even

more than that, it's a felony that with

that has a threat of violence and

there's really strong evidence against

one person, all that [ __ ] is off limits.

No one can use it.

>> All I'm saying is if they say it's off,

it needs to be off like

>> or at least give you the power to delete

it.

>> It's like if you buy like I don't know,

organic apple, it's not organic. You

can't do that. I mean,

>> it's the same thing. You're selling a

product, you say what it is, stay with

what you say it is. But at the same

time, I love the fact, okay, when when

there's a crime,

>> crime is hitting despite all the

scariness and everyone saying whether

it's whether they saying saying it's,

you know, Eric Adams or mom Donnie or

it's it's bedum in the streets,

>> crime, the number of shootings in New

York last year, I think, hit like an

all-time low.

>> Violence is going and crime, violent

crime has consistently gone down the

last several decades. It was, is it

because we're a better people? I don't

think so. is because if you commit

crimes now, everyone has seen those Law

and Order SUVs

>> that if you if you go into a 7-Eleven in

the middle of [ __ ] nowhere

>> and shoot the clerk,

>> they're film

>> ATMs have cameras. So, was there any

ATMs outside? Then they check the

footage on the ATM. I like I don't like

a surveillance state. I like a state I

like a place where if a really strong

lawyers that where they consistently

say, "I get you think a crime is

committed here. There's not enough

evidence. You do not have access to this

video.

>> Right.

>> Stop. There's evidence that you're

planning a terrorist attack. Sorry,

boss. We're violating your privacy

rights. Every ring light, but we have

Uber. We still I still think we have a

dupe process. We can't have the wrong

people getting a hold of stuff. Anyway,

I I hope they find Nancy Guthrie and I

hope it helps that they have these, but

we have to be it brings up a big issue

about surveillance and we should pay

attention to it. Um, and I hope it helps

find find her and bring her home safely

to her family. Um, anyway, let's go on a

quick break. We come back, uh, we'll

talk about the latest in AI news.

There's a lot of it.

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Scott, we're back with more news. Time

for rapid fire of AI news. First up,

Anthropic is in the final stages of

raising $20 billion in new capital at a

valuation of $350 billion

uh valuation. And also at Anthropic, a

researcher submitted a resignation

letter saying the world is in peril,

saying employees constantly face

pressures to set aside what matters

most. That researcher is going off to

write poetry, by the way, which should

trouble you. Over at XAI, Elon Musk has

lost two co-founders, Jimmy Ba and Tony

Woo. Both announced their departure is a

big restructuring over there too when he

as he's brought it into uh SpaceX. The

company at OpenAI, the company's fired

an executive after she opposed plans for

an AI erotica feature in chat GBT citing

sexual discrimination. We don't actually

know what happened here. Uh Anthropic

raised the funding uh raised twice the

funding initially sought based on

investor demand. Uh so thoughts on any

of these stories? Lots of different lots

of stuff happening around AI again.

>> Yeah, the why people get fired or why

they say they were fired? I don't know.

I haven't sorted through that. What I I

think is already happened whether it's

reflected in the valuations or not. I

think Anthropic is now worth more than

open AAI. I think open AAI

>> what was their valuation? 800 billion.

>> Well, they're I think they're trying to

close around at 850.

>> Yeah. 850.

>> But that one VC who kind of if there was

a moment where the the the balloon was

burst, if you will, the bubble was

burst. It was when that VC had Sam Alman

on his podcast and said, "You've made a

trillion dollars in spending commitments

on a company with 20 billion in revenue.

How are you going to do that?" And he

got very defensive about it. And they've

gone consumer anthropics gone

enterprise. Uh they haven't made the

kind of crazy commitments. I I think

there's been the kind of the mother of

all industrial pivots. I think now, if

you will, Avis is now hurts. I think

Anthropic is now worth more or will be

soon than Open AI.

>> They are not making the money.

>> Yeah, that's but they're they're

stronger in the enterprise. Anyways, I

none of this makes any sense in terms of

a multiple on revenues, but uh I think I

think Open AI is in real

um I don't know, crisis is the wrong

word. There's a lot of arguments over on

X about that they have now do not have

he his big thing was I have the best AI

researchers now he does not right from

what most people intelligent people are

saying about it but you know he always

does this he always goes in and shakes

the tree and then shakes the tree again

that's that's his emmo I guess they're a

distant what third or fourth something

>> well these guys are all here's an a

symbol of how easy it is and how

difficult or how vulnerable they are. It

says, "Here are some Daario and Daniela

Emodi.

Uh, we're at OpenAI now at anthropic."

Ilia Sitsker, open AAI, now at safe

super intelligence. Aravan Shinavas,

Open AI, now at Perplexity. Mera Morati,

open AAI now at thinking machines.

Arthur Mench was at Google, now at

Mstral AI. It's the brightest minds here

are supposedly in I used to work with a

lot of luxury brands and they said the

biggest problem they were having in

China

>> Mhm. is that at the biggest malls, if

Prada was had a store across the street

from Bautega Vanetta,

>> if if the manager of that Prada didn't

have people show up, he could go across

the street during the lunch hour to the

lunch court and offer someone 11 bucks

an hour from the Bautga store who was

making 10 and they wouldn't even go back

after their lunch break. They would go

over and work out. It was just so easy

to pick off people by offering them a

dollar more per hour. And it feels so

many of these deep these people who

have, you know, fairly or unfairly have

established themselves as some of the

few minds that really understand this

stuff. The amount of money and

temptation to go do their own thing or

join another firm. It is I mean

supposedly wasn't there reports that

Zuckerberg was paying some people$100 or

$300 million and then he wasn't.

>> I mean it just feels like it's total I

don't know bedum right now. Right. It's

it's they all think they're going to be

the one, right? I'm going to be the

final one standing and I'm going to own

the world essentially, which is a bet.

It's a bet, right? I think one of the

things that continues to plague these

companies are these researchers who are

like, we're [ __ ] everybody. Like they

come out and almost, you know, like

they're sort of like, sh it's going to

kill us,

>> I think. But quite frankly, K, I think a

lot of it is people

backfilling

uh the reason why they're living with

leaving with morality sometimes or some

sort of victimhood. If you look at just

to go back to musical chairs here, if

you look at XAI, the company lost its

second co-founder in just two days. And

that means that half of XAI's founding

team, six of the 12 have left the

company in less than three years of

existence. and Mus said, you know, we we

reorganized XAI to improve the speed of

execution, which required parting some

ways with some people. And I think for

some of these founders, there's legal

risk to staying at XAI. The EU is

currently investigating the company for

its creation of non-consensual sexual

deep fakes based on real people,

including children. So, this really is

the wild west. This is um you know, I

don't know. I I think it's just it's so

difficult to even keep track of

>> Yeah. Yeah.

>> You know, who ends up where and why.

>> It's like as if a science people went

crazy, right? But I I do think the

warnings are getting really interesting.

They're like I wish someone would just

explain what we're in peril. How how are

we in

>> Yeah. How does that manifest? What does

that mean? Hey. Hey. Like, oh, it's like

the people who knew that we were about,

you know, in those movies where a bunch

of people know we're about to get hit by

a like a comet or something and they're

not telling us. They're like, I would

>> love your family. Why

>> is it Arnold Schwarzenegger showing up

at your door wearing Oakleys and a lot

of leather? Like, what is it?

>> What is happening?

>> What does it look like here? What does

it What does it mean? Cuz the employment

destruction that was supposed to be

already well underway, I would argue is

not happening yet. I don't know. But why

would someone say they're in peril?

We're in peril and set aside what

matters most, which is safety

presumably. And then they go off and

write poetry. I would like some more

information if you don't mind. If you're

going to do that, you need to tell me.

>> Yeah. Why exactly why are we in peril?

>> Why are we in peril? But

>> from what? Tell me. Tell us. I know. I

know there's these legal things, but if

it's so terrifying, you need to like

step out and like tell us tell us what

it is and have bring proof, too. by the

way, would love to know when the comet's

going to hit us. In any case, uh

>> but the VP of product policy at OpenAI

was fired after she voiced opposition to

Open AI's upcoming erotica features for

adult users.

>> Yeah,

>> she she did something else

>> that enabling erotica would likely

strengthen feelings that users already

have for the chatbot. Based on a recent

report released by OpenAI, out of chat

GBD's 800 million weekly users,

>> 1.2 And 2 million users are prioritizing

talking to chat GBT over their family,

friends, school, or work. That's less

than I would have thought. Roughly 560K

are experiencing psychosis or mania.

This is shitty research. As a as a as a

ratio by 800 million people, is that

normal or not normal?

>> That's a lot.

>> And about 1.2 million people discuss

suicide with chat GPT. Again, what I

want to see is someone to say,

>> "All right, is that just a function of

people who are depressed thinking they

can talk to chat GPT just as they would

talk to a friend or a therapist, right?

>> Or is it something about talking to chat

GPT?"

>> Right? You get the psychosis,

>> suicidal ideiation or psychosis.

>> Ladder, you know, interesting. I just

did an interview with Sher Challe from

my doc series and she's been saying it

for years and she's like, I've never

seen anything like it now. It was before

on the sidelines and in the darker

places or people had, you know, it was a

small group of people. She goes, "It's

really gone mainstream in a way. I I

would like the information from these

people. Would you come out and bring a

bag and bring it to me or Scott or

something like that?"

>> Anyway,

Carisher, on a separate note, speaking

of sort of normal journalism and getting

information out, one of the most

depressing things, Hong Kong media mogul

and pro-democracy activist Jimmy Lie was

sentenced this week to 20 years in

prison after he found guilty in a

sedition and collusion with foreign

forces. It's the longest sentence ever

handed down under a death sentence.

>> Death sentence. Uh Eli's children are

saying a potential visit by President

Trump April could be crucial in securing

the release of their 78-year-old father.

This is something Trump should do. Back

in December, Trump said he asked uh

President Xi to consider releasing lie.

But on the campaign trail in 2024, he

was a lot more confident saying 100%

I'll get him out. He'll be easy to get

out. He's not so easy to get out. Let's

not forget the real surveillance

economy, the real control economy. We've

talked about these issues around control

and the uses of AI for badness. Um,

China wins the boats everywhere and they

they go after this guy who's a really

important uh figure um uh figure in in

this area. And so if President Trump can

do anything, please do it. If anyone can

do anything, but Jimmy Li is a hero and

and what's happened to him is is as you

say a death sentence.

>> Look, I go to the economics. when you

start imprisoning journalists, whether

it was Turkey in 2012, Soviet Union at

the turn of the century or China, uh,

putting the, you know, taking a very

hardfed approach to Hong Kong in 2021 as

kind of best epitomized by Timi being

imprisoned,

distinct of the morality of it, distinct

of the importance it plays in a society,

the nation gets poorer and angrier. It's

a it is literally a conard a canary in

the coal mine saying we are about to

send a chill across some of the most

talented people and scrutiny about what

can be said about companies that hurts

the economy. The nations get poorer and

angrier and it's literally a symbol of

when an economy is about to move to an

authoritarian state which is really bad

for innovation for attracting outside

capital.

When you're thinking about investing

in Turkey, and all of a sudden they

start locking up journalists. Does that

thing does that does that if you're

Google, you think, "Yeah, I'm going to

start I'm going to open an office in I'm

going to open an office in Istanbul."

You think, you know, I'm going to wait

and see if they sort that out. If you're

one of the brightest PhDs in the world

and you're doing research on

authoritarian governments or you're

doing research on innovation and you're

worried that your research might might

contradict something that the leadership

is espousing to do you go teach at those

universities? No, you go somewhere else.

So

this is look China is not you know is

not a model for

but having said that I was just supposed

to be on with Don Lemon who got

arrested. Why the [ __ ] why are they

arresting Don Lemon?

>> Don Lemon like give me a break. They

shouldn't be arresting any journalist

like this. It's just ridiculous. I would

agree. Um I'm going to finish up with

any Jimmy L. Let's get him out. Let's

let's get him out. He's a hero. Um I'm

going to finish up with something that

just happened. Um Gail Slater, who a

hugely respected lawyer, antitrust

lawyer who was running antitrust of DOJ,

just announced she's stepping down. It

follows uh the the resignation of a guy

named Mark Hammer, who was one of his

her top deputies. She's had clashes with

Pam Bondi over the Hanley antitrust

investigations. I have heard she was in

a real bind over the Paramount thing.

They're trying to like shove through

things that are friendly to the Trump

administration and she just can't do it.

She can't do it. that during her 11

months on the job, she found herself in

this bind caught between the Trump

administration's um

she was close to JD Vance. This is a

very respected and well- reggarded

antitrust version. This should be an

enormous signal that Gail Slater is

stepping down. Um I had hoped to talk to

her, but everyone had told me they

didn't know what she was going to do

about the the Netflix Paramount thing.

Um you cannot be against the Netflix

thing if you're not against the

Paramount thing. I'm sorry. like and of

course she's being, you know, she she

had a she's been put in a bind all over

the place. A talented and and well

regarded person has put into a bind and

so she's stepping down. Um I just don't

know who they'll put in some idiot like

a Brandon Carr type of person who will

just do what they say. Um but it really

brings it down rather significantly.

Even even um Megan Del Reinver works for

Paramount actually now very well

regarded like they're going to have to

put in it in a village [ __ ] idiot in

the Pam Bondi mode. So not a good sign.

Not a good sign.

>> Yeah, great.

>> Anyway, uh one more quick break. We'll

be back for predictions.

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>> Okay, Scott, let's hear a prediction.

>> I think that

what was supposed to be the most

anticipated IPO, maybe with the expect

exception of kind of Space X, AI, Tesla,

the

>> whatever Tesla's not in there yet.

>> Probably the most anticipated was Open

the IPO of Open AI in 2026, sometime

this year, early 27. I don't think

that's going to happen. Um I think that

yeah I think this company is is now is

gone into full

um I don't call it panic mode but it

feels as if the m momentum has a habit

of creating more momentum and I think

the momentum is really negative around

this company

>> what happens where does it go what does

it do

>> well I think they'll substantially

um scale back there I mean have you

already seen the war have you already

seen Jensen Hang and Sam Alman who were

you

Bud buddies are already [ __ ] posting

each other,

>> right?

>> Claiming that the hundred billion dollar

agreement with was a framework and

they're actually not the hundred billion

investment.

>> May I just say you said that

>> well that was ridiculous. These circular

deals I'll give you a hundred billion.

I'll invest 100 billion if you invest

100 billion in our chips. And now and

now quote unquote Jensen's backtracking

and saying well it was just a framework

they couldn't justify it. Nvidia stock

has gone down because people are worried

about exposure to open AI. Right. So

what does OpenAI do? They start ship

posting Nvidia and saying no was because

their chips didn't live up to our

expectations. When when the biggest

player in the space Jensen Hong and kind

of the young gun Open AI start ship

posting each other and and they back out

of this hundred billion dollar

investment framework. That is a really

bad sign.

>> He kept using what was the word? We're

honored to be invited. What was he

saying? It was so funny. Yeah, but

they're both going on background now and

blaming each other.

>> Oh, totally. Utterly. Like, can I just

give people a lesson? When you hear

sources close to the situation, if they

were any closer to either of them,

they'd be on the other side of them.

>> That's them, right? The

>> So, I think I think the momentum the the

worm has turned. And it's not that

OpenAI isn't an unbelievable company

that could go public at like a $50

billion market capitalization. But the

problem is when you sell some investors

in at 250, 450, and then if he's able to

close this round at 850, they're not

willing to go public or let you have a

liquidity event that cuts there. What

happens in an IPO? Say he went public at

300 billion next year and said, "Okay,

the market isn't what we thought."

Unless there's a couple years where the

latest round of investors get so

fatigued they're willing to take a 60%

haircut. All of your shares, the last

round of investment has a preference,

meaning they they're the first money

out. So the 50 or 100 billion going in

at 850 doesn't want to give up their

liquidity preference and let them go

public if they're going public at less

than 850, which I think they would. So

your last round of investors become a

veto block for going public unless

you're going to go public at a valuation

greater than 850.

>> So what do they do? You haven't answered

my question.

>> They'll dramatic, in my opinion, they'll

dramatically scale back their capital,

their capex and they'll end up with a

much smaller, much less ambitious

amazing company that's only worth a

100red or 200 billion. It's only one of

the 30 most valuable companies in

America. Not the

>> get bought what? Well, that means

everyone else will get collapsed, right?

Or not. I think the whole my opinion if

you look at and I look at weird signals

the percentage of ads at the Super Bowl

right if you look at all this I think

there's a ton of anecdotal evidence

showing that while AI may live up to its

potential the market cap of the biggest

players this year is about to throw up

which isn't to say that similar in 2000

when the market cap of Amazon went down

95% it's still not going to be an

unbelievable company but I think we're

about to see a dramatic recalibration in

the markets which includes Open AAI's

IPO plans getting queered. Now, who's

going to take their place? And this is

the prediction.

>> Mhm.

>> The most impressive numbers hands down

that no one I wasn't expecting.

>> Khi's

year on year

>> and not Poly Market, right?

>> Well, Khi's Khi is actually of the two

the clean well-lit space of this I see.

Okay.

>> Of this marketplace, right? It's a

little Cali is CFTC regulated. It's also

in the US. It's peer-to-peer trading.

It's federally regulated. Um I have some

I don't have moral clarity around these

issues because I do think they tap into

the dopa of a young more risk aggressive

male brain. But just let me go straight

to the numbers here.

>> In 2026 or in this Super Bowl, right,

>> over a billion dollar in trading volume

on Cali. That's up 2,700%.

It was up 28fold this year. And you know

who's getting absolutely the [ __ ] kicked

out of them is Flutter is the gambling

sites.

They're killing these guys. The sports

market accounted for about 90% of Kow's

activity this month. And it's it's

having an incredible impact on

traditional gambling and sports book. Um

analysts have noted that Khu's ride ride

rise coincides with the underperformance

in major sports books stock prices draft

kings flutter as traders shift some

activity towards prediction markets and

with a venue that's easy to access

nationwide which koshi is even in states

without legal sports betting the firm is

attracting betterers who might otherwise

um have used traditional sports books.

So this is this company and my my

prediction is the following.

Open AI way to the downside doesn't get

public. Khi is about is going to be in

my opinion the kind of IPO we're all

trying to get into in Q2 of Q3 of this

year.

>> Kchi it is. All right. Well, that's

interesting. You've been sounding this

alarm for these companies. Interesting.

Fascinating. That's a big one, Scott.

That's a big one.

>> We'll see. Right.

>> Yeah. Anyway, we want to hear from you.

Send us your questions about business,

tech, or whatever's on your mind. Go to

nymag.com/pivot

to submit a question for the show or

call 85551 pivot. Uh elsewhere in the

Cara and Scott universe this week on

Profy Markets, Scott spoke with Esar

Prasad, professor of trade policy and

economics at Cornell University to

discuss why he thinks economics,

domestic politics, and geopolitics are

stuck in a doom loop. Doom loop. Let's

listen to a clip. Globalization used to

be seen as a positive sum game where

countries could benefit mutually from

trade and that would be an offset to

what is intrinsically the zero sum game

of geopolitics where one country can

gain influence only at the expense of

another. But now even globalization has

become seen as a zero sum game. So it

isn't offsetting the zero sum game of

geopolitics and worse some of the

negative dynamics of globalization have

started infecting domestic politics not

just in the US but in many other

countries.

>> God I feel smarter already my people

>> you know there's

professor um

>> Prasad that one of the things that

struck me and I said this

>> we graduated the same year from

undergraduate me from UCLA him from the

University of Madras.

>> Mhm. I graduated with a 2.27 GPA with an

incredible ability to make bongs out of

any household item.

>> He won a scholarship in India that

identified like one of the 50 smartest

kids of a billion kids.

>> And so what what do what does a guy

who's one of the 50 like he this guy

could walk into the Rose Bowl and take

the average IQ of those 80,000 people up

a couple points. That's how smart and

hardworking this man is. So what are we

doing to what are we saying to these

people now? Can you imagine a kid coming

out of the University of Memphis right

now in 2026? Is he going to go to Brown?

>> Yeah.

>> No, he's going to go to Miguel or he's

going to go to Instituta or he's going

to go to

>> INSEAD

>> or who knows maybe

>> maybe the University of Cordova in

Argentina. I mean,

>> speaking of doom loops, academic doom

loops.

>> We're the sports team that used to have

access to the number one draft at any

college in the world and we've said no,

we don't want

>> and now we just have Prof coming back to

the

Anyway, it's it sounds like a great

interview. I'll be listening to it. That

is the show. Thanks for listening to

Pivot and be sure to like and subscribe

to our YouTube channel. Uh we'll be back

next week.