Yes, I can actually

explain it.

So here's the difference.

There is – when you're raising money, you have to be incredibly buttoned up.

And if you lie or extend the truth when raising money, there's a special term for this.

Security is fraud.

Okay.

And also everything you're talking about, Jason, is socialism, and that doesn't seem to be working out very well for France.

The

reason the United States dominates the internet industry is because we have this insane capital system where you get disproportionately rewarded if you kick fucking ass.

The Google guys become billionaires.

The eBay guys become billionaires.

Yahoo guys become billionaires.

And guess what? eBay, Yahoo, Google own the internet around the world.

They're dominating around the world.

Right.

What's the end game?

Here's the thing about the power thing.

If Starlink is not the best product and Amazon's new low Earth orbit satellite is better and at cheaper price, people will go to that.

And if Tesla is not the best car and BYD produces one cheaper, which they do, it's like 15 grand for a BYD Dolphin in Mexico City or Europe.

And you see them everywhere.

people will buy that, right? So this idea that he has like this amazing amount of power, he's third place when it comes to the large language models, Anthropic and OpenAI are better, all the money's going to them.

So he's only as good as his products are in terms of power.

The Vera Rubin is like 10x more efficient.

What's the end game?

Here's the thing about the power thing.

Like if Starlink is not the best product and Amazon's new low Earth orbit satellites better and at cheaper price, people will go to that.

And if Tesla's not the best car and BYD produces one cheaper, which they do, it's like 15 grand for a BYD Dolphin in Mexico City or Europe, and you see them everywhere, people will buy that.

So this idea that he has this amazing amount of power, he's third place when it comes to the large language models.

Anthropic and OpenAI are better.

All the money's going to them.

The Vera Rubin is like 10x more efficient.

What's the end game?

Here's the thing about the power thing.

If Starlink is not the best product and Amazon's new low Earth orbit satellite is better and at cheaper price, people will go to that.

And if Tesla is not the best car and BYD produces one cheaper, which they do, it's like 15 grand for a BYD Dolphin in Mexico City or Europe.

And you see them everywhere.

people will buy that, right? So this idea that he has like this amazing amount of power, he's third place when it comes to the large language models, Anthropic and OpenAI are better, all the money's going to them.

So he's only as good as his products are in terms of power.

The Vera Rubin is like 10x more efficient.

What's the end game?

Here's the thing about the power thing.

Like if Starlink is not the best product and Amazon's new low Earth orbit satellites better and at cheaper price, people will go to that.

And if Tesla's not the best car and BYD produces one cheaper, which they do, it's like 15 grand for a BYD Dolphin in Mexico City or Europe, and you see them everywhere, people will buy that.

So this idea that he has this amazing amount of power, he's third place when it comes to the large language models.

Anthropic and OpenAI are better.

All the money's going to them.

The Vera Rubin is like 10x more efficient.

Inter-vehicle

And he's got 1,000 of these Cybercabs already with Starlink in them in the Texas area, and maybe 50 of them are actually taking rides, whatever it is, and he can probably produce a half million of them a year.

Y- there will be a world where he gets to five million Cybercabs.

Every one of them has Wi-Fi.

Every major city you're in, you're going to connect to Starlink on a Cybercab or from the sky.

And the direct-to-satellite connection is getting better and better, plus he's got other spectrum, and people can buy his spectrum.

So there'll be a bundled service for 100 bucks a month where five people in your family...

That's great

What's the end game?

Here's the thing about the power thing.

Like if Starlink is not the best product and Amazon's new low earth orbit satellites better and at cheaper price, people will go to that.

Right.

And if Tesla is not the best car and BYD produces one cheaper, which they do, it's like 15 grand for a BYD dolphin in Mexico City or Europe.

And you see them everywhere.

people will buy that, right? So this idea that he has like this amazing amount of power, he's third place when it comes to the large language models, Anthropic and OpenAI are better, all the money's going to them.

The Vera Rubin is like 10X more efficient.

always been that

way.

It's super interesting how polarized it got.

People used to actually be more objective about it.

It would actually correlate more with actual inflation and prices.

Now it's a function of political party to a point.

And the problem with... sustained three or four percent um inflation is that it's on top of an already big number and so even though it feels like that three or four it's only three or four percent more it's like okay yeah every year for you know six years now it's oppressive to people and it compounds and it compounds and then you have to ask yourself well what is what am i making on my money okay well after taxes three or four points off of that you know what I have to make 9% or 10% to hit this 6% or 7% rate.

All right, Tristan runs a

They

want to slow down open source, yeah.

They want open source to get banned.

You can't ban open source.

I'm preaching to the choir, my brother.

But they would like to say to Trump and create an FAA that goes in and says, hey, listen, GitHub, hugging face, anybody in the United States who wants to host these Chinese models, you're responsible for how the people use it.

You need insurance.

So what is your

well it's so strange that you have 15 waymo separately so you're effectively implying that waymo is not coming back to uber

i think they'll TBD, I think it's like that's a jump ball and it will largely depend on what the gold medal winner who's the gold medal winner.

And I believe the gold medal winner is going to be Elon and Tesla.

Why do I think that they win the gold? I think they will have such a significant advantage in producing hundreds of thousands of cars per year and maybe eventually even a million, two million outside estimate, even three million coming out of that factory.

you know, every year.

If you look at the number of rides I'm saying will move from people driving themselves to being driven in a car, 2% is, you know, one and a half, 2% globally is what ride sharing is.

That includes DD, that includes Grab, includes Uber, Lyft, everybody else.

anywhere in RoboTaxi, where are you putting the dollars on? What's the big bet that you're looking to make in the next 12

So you're effectively implying that Waymo is not coming back to Uber.

I think they'll...

TBD, I think it's like that's a jump ball and it will largely depend on what the gold medal winner, who's the gold medal winner.

And I believe the gold medal winner is going to be Elon and Tesla.

Why do I think that they win the gold? I think they will have such a significant advantage in producing hundreds of thousands of cars per year and maybe eventually even a million, two million, outside estimate even three million coming out of that factory.

you know, every year.

If you look at the number of rides I'm saying will move from people driving themselves to being driven in a car, 2% is, you know, one and a half, 2% globally is what ride sharing is.

Anywhere in RoboTaxi, where are you putting the dollars on? What's the big bet that you're looking to make in the next 12

Oh, yeah

...

if, if you go to Dubai, you go to any of these places, London, uh, I think today, not previously, and you have an expired visa, there's no discussion.

You get back on the plane, they send you home.

That's how it's supposed to work.

And you, you have to do this properly, again, execution matters, so that you can actually recruit the top talent around the world to come become Americans.

The-- If you can get the top talent here, every time we recruit somebody, you know, on the level of, you know, um, a, a CEO, an incredible talent, the other country loses them, and then those people pay massive taxes.

Yeah, yeah.

[laughs]

And then if you watched, there, there was, um, the Figure robotic company also doing humanoid robots had, like, a telethon where they had one of their robots sort packages.

And so this timeline is increasing, so it is a huge opportunity.

And the tokens which equal intelligence are so compelling for people to use that people are spending too much money on them.

They're, like, going crazy using them, and you've had to rein in employees.

For every story you hear that this technology is gonna change everything, you'll have people who don't know how to apply it.

But we use two terms in the industry, AGI and then superintelligence.

Yeah.

Yeah

... about people moving and geography.

This is the truth in today's era, that people who are on the top half who are business owners and who have equities are running away with it.

The people on the bottom half of society who don't own equities are stalled because America's the greatest wealth creation machine in the world.

Our equities are phenomenal.

That's the win of America.

So instead of talking about how do we take more money from the rich, we should be really concentrating on how do we get rid of waste, which is about 30% of all these budgets, we found out.

And I guess the question for, for politicians, the question for lawmakers, and anyone listening to this podcast, and let's end with your thoughts, e- both of you, on what that message should really look, sound, and feel like.

Yeah, yeah.

He's been public about this sometimes speaking after school.

He, he basically went bankrupt, and a friend of ours was loaning him money to keep him afloat, and I famously had dinner with him one time and he showed me the Model S car on his phone.

He was getting in the middle of his divorce, and he's told the story publicly, and I was like, "Uh, I have a couple of million dollars I can loan you." He's like, "Don't bother.

I'm, I'm done.

Tesla's gonna go out of business in two weeks." And I was like, "Really?" And he's like...

'Cause I had seen in Gawker, they said it was going to go out of business next month.

How cool.

Of course.

... was a completely open border, right? And- and we got about 10 million people, some say eight, some say 12.

So okay, we have 10 million people who came in who shouldn't.

Why did they bring them in?...

the theory, large theory is to, to convert them to, uh, Democratic voters over time by paying them off with the incredible thing known as American citizenship, uh, which I think everybody here, I don't know if any of the guys on the staff are, are Native Americans, but we're all immigrants here.

So, it...

Then if you look and you open the lens, there's 40 million immigrants in this country illegally.

Uh, we do have to go to Rumble Premium pretty soon, so I'd like you to kind of r- wrap up your premise so we can go to a, a back and forth.

(laughs) Like th- this is, like very harsh policies, and that, that is causing real damage.

I think there is a, a bit of, um, a sadistic red meat trait of this administration, which is their Achilles' heel.

And we saw it blow back on them when they started doing these raids, uh, at Home Depots, et cetera.

And even, you know, the Joe Rogans of the world were like, "Yeah, no, didn't vote for that.

Shut the border, yes." Uh, drag somebody out of the country with no due process who's been here for 20 years and send them to a sadistic prison that Amnesty International can list 17 different torture violations there, that's their absolute Achilles' heel, and it's blowing back against them.

And that's why you see Trump, you know, I think dialing that back.

And he even went to the point of saying, "Yeah, maybe we should do something for these farmers here and give them a work visa," which is like, um, that's something we had 20 or 30 years ago.

But the superintelligence will take us, you know, the...

Uh, "To me," says Wyn Williams, "this type of surveillance and monetization of young teens' sense of worthlessness feels like a concrete step toward the dystopian future Facebook's critics had long warned of." I mean, I have to say, Jason, same.

Yeah.

I mean, it, ugh, Zuckerberg has always been obsessed with growth, uh, and that organization, their DNA, you know, move fast, break things, um, which is a Silicon Alley ethos as well, you know, ask for forgiveness, d- you know, don't ask for permission, beg f- you know, don't beg for permission to ask for forgiveness kinda thing.

It, it's a really broken philosophy when you're doing something selfish.

Like, I want this social network to grow faster and faster and faster.

Because then you go do really pernicious, disgusting things, like, if this is true, look at w- what selfies were deleted and say, "Oh, how can we prey on their insecurity?" Oh, they didn't like, you know, whatever, their nose, their hair.

Le- let's sell them products that work on those, uh, triggers.

M- here are the broad-based issues that affect 80, 90 million Americans, and I'm gonna try to get, you know, three-quarters of them to vote for me." And that has not, that is not even close to happening right now in the Democratic Party.

Right.

... about 100 a year, and so I, I get to have approximately 20,000 people apply for funding from, um, my, my venture fund. And startups always are re-resource-constrained, right? Two or three people in a garage with just a tiny amount of money or no money. So, so they actually use technology to build these companies, and they always go for the most efficient thing. And what we've seen is, over the last two years, since ChatGPT, um, launched to the public in the 3.5 format is, the same companies that took 10 people and a half million dollars to get a product to market, it's now being done by three people. Um, so about 70% less people. And then if you were to look at some of the top technology companies, that's the next group who embraces this technology first. They're not as scrappy as startups, but they're tech companies, so, you know, they get a front row seat to the technology. And if you were to look at the number of employees at Google, Uber, Airbnb, Meta, which makes Facebook, uh, and Instagram, they have the same number of employees, Glenn, uh, when they peaked in 2021, 2022, was their peak employee count. They now have either the same number of employees or slightly less in the, in those companies, but they've grown their revenue 20, 30, 40% a year.

Yeah.

So that's deprecate. You just stop doing something. Delegating it means there, there's a workforce around the world that get, gets paid between one and, let's call it, $30 an hour, uh, for clerical work, for knowledge work, for white collar work, for people with college degree work. It turns out the people working, uh, in a place like Manila, uh, in the Philippines, where we have a company called Athena that provides, um, kind of like an executive assistant, and that company can provide an executive assistant who is in an MBA program in Manila for $3,000 a month, $36,000 a year, compared to the United States where that same person would get paid 70, 80, 90, 100,000, not from the Ivy League, but from, from an average school. And then there's automate. It turns out if you're an executive at a Google, at a Meta, the time it takes to hire a person, to train a person-

[cheering]

...

I, yeah, it was such a great show.

Lots of celebrities there.

I mean, you guys were at the peak.

You were, like, peaking, peaking on late night TV.

It was awesome, and he, you decide to end it.

Chicken cacciatore.