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Speaker 1: So our friend Zach Abraham, Chief Investments are Borck Capital Management,

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my friend and brother. He joined us. Every week he's

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gotten to meet and talk with a key Trump nominee,

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Stephen Moran. We're gonna get his tests and what he

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thinks about this guy plus Trump and Putin meeting in Russia.

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Zach does deals for a living, and I'd love to

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talk about that. There's much you get to including inflation

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and AI, plus a happening anti populace happening in France.

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We'll talk about this all was Zach Abraham. Chief Investments

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are Borock Capital Management. Thank you to God Almighty.

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Speaker 2: The Todd Herman Show is one disapproved by big pharma

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technocorrats in tyrone s everywhere from the high mountains of

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Free America. Here's the Emerald City exile Todd Herman.

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Speaker 1: Today is the day the Lord has made, and these

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are the times to which God has decided we shall live.

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Joining me, my friend and brother, Zach Abraham, Chief investment

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Officer Bower Capital Management and football coach of the youth Man.

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Welcome back.

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Speaker 3: Thank you me. We've been grinding, grinding on that. It's

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funny you brought up the football we've been we've been

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putting in work.

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Speaker 2: Man.

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Speaker 3: We're we're installing a new offense this year. And installing

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a new offense with a group of fifth graders is

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a uh, it's it's a it's it's a bortage.

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Speaker 1: It's interesting. How are you dealing with the endorsement money

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with those kids? Is that changed who they are?

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Speaker 2: Right?

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Speaker 1: Because I saw that kid riding up to your practice

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in that new uh, that new electric bicycle with his

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name on it.

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Speaker 4: And yeah, yeah, Now, I mean for you, for the

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mid tier kids, you'd count on maybe like a happy

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or Ashwin.

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Speaker 3: But if you're a blue chipper, we might get you

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an electric razor or an electric bike. Everybody, you know,

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it's I mean, everybody's getting cheeseburgers, right, cheeseburger in Sundays.

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That's just that's what you got to pay to play.

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But yeah, there, it's getting spendy, getting spendy.

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Speaker 1: The world's changing so so much.

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Speaker 3: Oh my gosh, man, So Trump.

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Speaker 1: President Trump flew a bunch of his senior people up

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to Alaska to go to a military base, all of them,

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you know, to be in this meeting with Putin. And

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I'm just I'm trying to remember back to a time

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where figurehead Biden tried that. I don't recall that ever happening,

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and when it did, it was press press or Biden

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being distracted by a scroll during a photo session. You,

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I mean, I don't know that you walk around making deals,

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but you do investments, you sit on boards, you certainly

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advise on deals. What do you do in a big,

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super high stakes meeting like this, How do you personally

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prepare for something like that?

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Speaker 4: Well, I you know, I don't think it's all that

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I don't think it's all that different, honestly in how

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you going back to I don't think it's honestly that different.

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How you prepare for a football game, any football season,

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meaning that.

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Speaker 3: Like a big part of it is assessing who your

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counterparty is.

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Speaker 4: Right, So, like you're looking at a guy like Putin,

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say whatever you want, he's not there because he's done

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right right, the guy's been able to hold I mean,

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think about what he's been able to do, consolidate power

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in an absolute mess, chaotic countries going here there, All

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that dude's able to consolidate power, get the country back

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on its feet, and.

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Speaker 3: Hold that power for the better part of twenty seven years.

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Speaker 2: Yep.

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Speaker 3: So like be they you can be critical, but you

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better be realistic and you better have an honest assessment.

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And then I think it's about going in and I.

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Speaker 4: Honestly believe that the smaller list of objectives and accomplishments

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you're trying to get to the better. Right, you want

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to come in with preconceived things that you are prepared

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to offer up.

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Speaker 3: That they might think that you're not willing to. Yeah,

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I just it's you. You You just had You have

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to have it mapped out, and you have to have

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a battle plan because if you don't, you will get right,

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You'll get you'll get swung around.

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Speaker 4: Now, I don't think Trump approaches it that way because

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I don't think he knows how to do it any

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other way, Like meaning, I think he approaches it that way.

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Speaker 3: But I don't think he's thinking about it.

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Speaker 1: Yeah you know what I mean? Well, look, when you've

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been doing deals like he has, it's it's almost like, hey,

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what do you do to prepare to get out of bed?

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Speaker 2: Right?

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Speaker 3: Right?

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Speaker 1: You kind of have these instinctual things we used to

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go in and have, you know, our set of things

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we're going to present and these are the things we want.

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And if we knew someone was someone who needed to

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grind you down, because they're those personalities, they need to

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grind you down and they need to feel like they

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have sweated you, we would put in a couple of

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items there. And our agreement as a team was, we

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know he's gonna want to grind on these, let him

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grind and let's even have like good cop bad cop

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among us. You know, look, Todd, I mean, I don't

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think the lad's being wait wait no, we're not going

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to negotiate him wrong ourselves. Give us a break and

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we go out to side and you know, and talking.

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Part of this is Mack show. It's drama. And then

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if you have people who want to be the peacekeepers,

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you know, and you'll have those you negotiate with people

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that they want to be those peacekeepers. You try to

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create possibilities for that. I can't put a bead on putin.

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I know he's a meg Oh I don't know, but

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I think he's a meg lamaniac. He's become a multi

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billionaire in public service, et cetera. So in some ways

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I guess he and Trump are very similar, except for

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this that Vlad has killed people like full on right, KGB,

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dude has actually choked the life out of people.

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Speaker 3: Being pretty hard to think of a scenary in which

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that isn't the case.

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Speaker 1: Yes, right, right, right?

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Speaker 3: Uh he was, he was, he was playing in some dark,

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dirty alleys. Uh.

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Speaker 4: You know, I I think I'll be honest with you,

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I'm not entirely sure what Trump seeks to get accomplished here.

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I don't There really isn't any kind of deal that

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we can cut with Russia that I think is extraordinarily

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beneficial to us. I mean, they do possess the same

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type of crude we need, but we get that from Canada.

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Speaker 3: Rare work metals. I mean they got tons of they

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got tons of I mean.

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Speaker 4: Look, it's better for us to have a to have

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a complimentary and a friendly relationship with Russia. I'm just

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not exactly sure what it is that he's trying to accomplish.

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Speaker 3: Yeah, And and by saying that, I'm not saying I

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disagree with it.

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Speaker 4: I'm saying, genuinely, I wish that I knew what it

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was that they wanted out of this, because I from

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the outside looking in, what it looks to me is

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that internally, I think that their goal is to get

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the dollar down further, to keep a cap on energy

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prices at the same time, and I think that it's

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so cap on oil or excuse me, cap keep the

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dollar down, keep a cap on oil.

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Speaker 3: At the same time, I.

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Speaker 4: Think they want to see the I think they want

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to continue to see the dollar get lower and try

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to hold some type of control level on.

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Speaker 3: CPI right, because that's I guarantee.

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Speaker 4: You they're prepared to tolerate a slightly higher level of

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inflation than they're saying that they are right, they got

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to play the anti inflation game. But but when you

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look at the things that they're trying to do, it's tough.

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Speaker 3: Man.

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Speaker 4: They're trying to thread a needle and I and I

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and I tip my cap that they're giving it a go.

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But I just don't know what And I'm sure they've

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got I'm sure they've got bullet points.

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Speaker 3: I'm just it's a little bit of a head scratcher

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for me. What he can get from putin that will

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enable that will help him in those in those aims well.

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Speaker 1: Those ames same. I think I'm guessing his aim is

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to get to a point where he can put Putin

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and Zelenski in a room together so that that he

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can say that and then they can blow the deal up,

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so that it's not Trump that he sets them down.

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Look what I got them. I got them to come

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to the table. I got them discussion. But that's it,

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and that's a huge pr win. But I also generally

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think he wants peace. I actually think that Trump hates war.

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Speaker 4: Oh yeah, I mean I I look, if you if

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you want to go back through history before Trump was

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even involved in politics, I mean, I think anti war

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is the most consistent part of everything he ever said.

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Yeah right, I mean you know that and some of

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his points about you know, free trade and NAFTA, but

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I mean those are the things he's been the most

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consistent on. So I absolutely all take him at face value.

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But but you know it, like so many other things

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today in our culture. I was trying to explain this

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to my kids the other night because they were asking

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me questions about Russia and Ukraine.

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Speaker 3: And when you really sit down and assess it with

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clear eyes, the problem you have is that neither side

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has an incentive to stop. Like that's the issue, right,

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Like nobody has Like everybody's like Russia needs to pull out.

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That's not gonna happen.

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Speaker 2: Yep.

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Speaker 4: Right, there's no way they're given that back, not after

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like the very thing that you're saying that we've lost

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too many people. Yeah, exactly why they're not going to leave, right,

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there's no way they've paid that price, they're going to

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give that back. Yeah, Ukraine's got no incentive to fold. Like,

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that's the problem with this whole thing. It's a horrible situation.

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Speaker 1: And I don't and we went pot committed and Zelensky's

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popupin and now you have europe saying and a European

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boss lady just said this, if we can't defeat Russia,

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then how do we defeat China? Yeah, you know what,

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You've answered your own question, because you can't defeat Russia

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by buying gas from the natural gas which Trump had said.

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Now that sort of ended, and we've got the deal

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now where they're going to buy energy from us. But

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are you just awakening to this fact lady?

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Speaker 3: Yeah. The other thing is I just don't look. I

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could be wrong.

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Speaker 4: I am not a geopolitical expert and certainly not a

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Russian expert, but I do not at all agree with

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or understand.

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Speaker 3: And the narrative that suggests that Putin wants to take

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over Europe. The guy has got an imploding population on

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his hands, he's having a tough time keeping control of Europe.

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And then he got bogged down in Ukraine for three years, right, Like,

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what how does that signal he's about ready to take

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over Europe? That's the part to me that those are

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the kinds of I could be wrong. I could be wrong.

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I'm not omniscient. That's the kind of stuff that scares

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me though, because you everybody just accepts that what are

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we doing? We're making sure he doesn't invade Europe and

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you're looking around going how would that work? What are

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we what are we talking about? Yeah, and and and

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and and.

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Speaker 4: I know, like you, Todd. The thing that scares me

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about that is, Okay, here's this great narrative out here.

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Who's pushing this?

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Speaker 3: And why?

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Speaker 1: Oh, it's it's the defense industry, the other ones and

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pushing this. It's the former intelligence officials who are now

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on boards for defense industry companies. And you know, look,

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I've been in this business for forty five years. Putin's

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position well, and you know he's good. And that's that's

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the thing they're pitching you. You talk to someone speaking

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of Trump, He's nominated to be on the Federal Reserve,

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and so it's just he's the power replacement Steve Moran

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that he wants. I want to talk to you about

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him because this could this, this is something that could

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affect us deeply. So we'll talk with Zach about this

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in just a second. You know, we're talking about Putin

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and his sort of country and our sort of country.

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One of the things that we bear in common is

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we're surveillance states. So is Europe. We're censorship states. Sorry,

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it's not as bad here, and President Trump is far

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from as bad as figure at Biden, but that stands.

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That's the case. There are people in both countries who

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hate truth. Now, I have friends at Angel Studio have

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taken a program and they've created something called Testament. And

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here's what it is. It's the Book of Acts transposed

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into our timeline. So what's it like to spread the

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word of Jesus and more importantly, to build his church

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while you're in surveillance state, Well, everything you say is monitored,

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where they can shut down your ability to share with others,

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and where people just hate everything you say. You can

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stream this immediately right now, and it's brave Christian storytelling.

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It's not soft stope stuff. Go to Angel dot com

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slash Todd, become a premium Angel Studio Guild member. You

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can stream testament right now. You get two free tickets

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to all of the theatrical releases, and you get to

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vote on the programs that they create and distribute and promote.

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It's Angel dot Com slash Todd. So Stephn Moran, You've

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talked to this guy a couple of times, Zach, and

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he's been nominated for the Federal Reserve. So I'm reading

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and I went through a look at the Mockingbird media.

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Trump's Federal Reserve nominee may receive a cold shoulder. Why

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Trump's nominee is posing as an outsider. Trump's nominee a

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continuation of Mega anti expert stance. Those are some of

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the headlines Mega's anti expert stance. That's some of the happening.

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Speaker 3: Okay, so here's where I love this.

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Speaker 4: First of all, I'm going to say several things that

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sound self ingratiating, and arrogant.

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Speaker 3: I can promise you I don't. I don't mean it

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that way. What I mean is that.

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Speaker 4: So the point that I'll be trying to make when

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I say that is this is one of the things

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I love about Trump, and not because he agrees with

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me and I am brilliant and never wrong, but because

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he's looking for the same things and I think that

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they really matter. Meaning the reason I had Steve Miran

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on the show twice, and he's a great guy by

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the way, and very very smart, is because he is

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precisely the kind of person that we need in in

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my opinion, on the Federal Reserve Board and on the FOMC.

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And the reason I say that is, okay, lack of

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an expert. This guy is a PhD in economics from Harvard. Okay,

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I thought that's the I thought, that's the white I

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reached power of expert for.

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Speaker 3: These people, right, Okay. On top of that, the guy

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has ran a portfolio, run a hedge fund, and been

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a practitioner that has actually operated in markets. That makes

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him a white seg right, like those guys don't exist.

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Speaker 4: So and what it does is it gives him exactly Look,

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I don't I'm not anti economics, but without real life

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experience and knowledge of how markets work, and how things

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actually right. There's economics is all based on the idea

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that capital is going exactly where it should all the time.

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Speaker 3: Capital ends up where it should eventually, but it can

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take some really big detours and economists don't have any

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answers for that. Guys like Miran understand that. And so

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this is one of like this should give everybody heart

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because all of those all of those articles have something

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in common. I can guarantee you.

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Speaker 4: That whoever wrote those articles hasn't spoken into that guy

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for one tenth as long as I have. And yet

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here they are slamming this guy. Look at lack of

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an expert. What are you if a guy that has

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a PhD in economics from Harvard isn't qualified to be

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on the f who is right?

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Speaker 3: Like like, why are you gotta be kidding me?

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Speaker 4: And so I A, I love this about Trump because

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he's not looking to just the expert elite status, which

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funny enough, are you there? That group of people is

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never the most competent, they're never the most knowledgeable.

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Speaker 3: It's a country club, right, like that, It's a social

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It's a social group. That's what it is.

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Speaker 2: Right.

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Speaker 4: You take a guy like Steve there's a reason Steve

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didn't come right out of the out of Harvard and

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just jump into those kinds of jobs.

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Speaker 2: Right.

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Speaker 4: He did some work for the government, but then he

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went to private route, went out on his own, started

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a hedge fund, did stuff like that.

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Speaker 3: He's an outsider. He looks at things differently.

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Speaker 1: Here's CNN in me world. That's said, okay, in megaworld.

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Stephen Moran, the White House economists President Trump nominated last

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week to the Federal Reserve's top ranks, is a force

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to be reckoned with. Moran has been a key voice

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in support of Trump's sweeping economic agenda, with the President

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praising him as distinguished and unmatched. But what it takes

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get nominated to the FED is different what it takes

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to succeed at the Central Bank. Moran was nominated in

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place of Adrian Coogler, who resigned from the FED with

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six months left in her term. That means Marann would

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serve on the Fed's Board of Governors until January thirty one.

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Should he be confirmed by the Senate, his unconventional views

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on the economy will be unfold display during his confirmation

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hearing before the Senate Banking Committee. The same views that

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put him out of step with the rest of the board.

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Unlike most mainstream economists, including those at the FED, Moran

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believes that Trump's widespread traffs and US trading partners won't

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stoke conflation, the view that suggests the FED should have

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already cut interest rates this year, as Trump was loudly

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demanded for months. He's doubled down on the position recently.

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Moran also co out of the little paper last year

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that argued that the Fed's independence, so he's struck a

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different tone in recent years argued against the Fed's independence,

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though he struck a different tone in recent years, it's

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unclear if he'll be unequivocal about honoring the Fed's independence

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as chaired Jerome Powell and other FED members typically are.

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This is CNN raising alarm bells that this guy might

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think that maybe the Federal Reserve should, oh, I don't know,

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be audited or be responsible to someone of themselves. That's insane.

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That's crazy talk megal world baby.

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Speaker 3: Yeah, pure insanity. And also you sit there and go, hey,

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cool job writing a story about somebody where you draw

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all these conclusions that you've never even spoken to him. Yeah,

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he wait, here's the other thing to drive me nuts.

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Speaker 4: And I don't want to sound too elitist or anything

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when I say this, but it gets so exhausting listening

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to people try to sound smart and try to sound

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like they understand what they're talking about when it's so

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clear that they've got no idea.

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Speaker 3: One of the biggest issues you've got in this economic

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talk is these are pardoning Turner. But these idiots out

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there GDP up good, GDP down bad. Now, they'll sit

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there and talk at their cocktail circuits about the plight

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of the middle class and the financialization of the economy.

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And but anything you do that makes GDP go down

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for so much as a quarter is a disaster.

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Speaker 2: Right.

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Speaker 3: Well, in real life, we understand sometimes we've got to

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take a step back to take three steps forward.

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Speaker 1: Yep.

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Speaker 3: Right.

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Speaker 4: And Trump isn't even doing what they're talking about. Trump

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is even said this might be uncomfortable, this might be

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you know, not ideal. There's going to be some pain, right,

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But we're talking about two different things. Nobody ever said

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that this might cause a short term recession, which when

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you've got record household debt or record household wealth, record

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household equity, at homes and four point two percent unemployment.

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Speaker 3: Hey, every lost job is a bad thing.

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Speaker 4: But if that's what it takes to get you know,

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you know what manufacturing back in America and livable wages

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and all that.

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Speaker 3: Right, if that's what it takes, then then okay, sounds.

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Speaker 4: Like a great idea, right, But it's you're gonna sit

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here and tell me all the horrible plights of capitalism

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and how it screwed everybody. And yet when we go

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back to policy, it's, well, you can't do anything that

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is GDP.

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Speaker 3: Go now you're going Wait a second, I thought this

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was all about how evil capitalists only care about number

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go up. And yet any time I suggest to Paul,

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like I said, I have to remind myself all day

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that I'm not living in a black mirror episode because

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I'm sitting there going you, now, you are vehemently fighting

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somebody that wants to institute quote unquote protectionist measures that

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would be beneficial to wages for the middle class. Like

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if you hang out long enough, you'll see everything, right,

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I mean, that's like a and I've said this a

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million times before, but there's certain parts of what Trump

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is saying that are just pages right out of Noam Chomsky.

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I mean, and by me saying that, I'm not saying

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it's bad.

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Speaker 4: Just because I don't agree with Noam Chompsky on most

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things doesn't mean that he didn't have some good points.

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Speaker 1: Noam Chomsky was right on COVID, He's right about pharma.

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Noam Shansky is right about some things. And the broken

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clock theory applies to this. So this is going to

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continue the votes. You know, if he gets his temporary placement,

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then then it's going to be really really interesting to

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see what he does on the inside, because I'd love

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to see him challenge Powell, you know, not for the

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leadership perhaps, I mean, I love that, but I'd love

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to see because I think the era of Jerry Powell's

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God had just come to an end. He is just

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a complete repeat of what we've seen before that there's

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nothing that can change, nothing can be challenging. And here's

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my test for the SAC if no one, if they

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don't want to be audited, This would be my litmus

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test for anybody in the FED. Will you be audited?

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We supported an dependent out of the FED. And if

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the answer is no, then you're the same same type

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as this as Miranda. He say he'd supported an audit.

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Did you ask him?

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Speaker 3: I don't know.

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Speaker 4: If we can, I'd have to go back through the

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interviews and look at it again. It's it's something we've

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probably talked about.

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Speaker 3: Here's the thing. What he's again. I've spent two and

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a half hours talking to the guy one on one,

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so you know, I would be shocked if he did

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not support an auditing of event. I'd be absolutely shocked.

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Speaker 1: Okay, well, there's a night, there's a leit he does.

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00:21:25,079 --> 00:21:29,079
There's links to Zach's interviews with Steve Moran in our podcast.

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So in the in the show notes, we have links

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up to the interviews Zach's done. You can also go

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00:21:33,400 --> 00:21:36,200
to Know Your Risk podcast dot com. That's where Zach does.

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00:21:36,200 --> 00:21:39,119
This podcast is Know Your Risk Podcast dot com. I

436
00:21:39,200 --> 00:21:41,160
want to give you something that's going on in France

437
00:21:41,200 --> 00:21:43,240
in a second, because we're talking about a bit of populace,

438
00:21:43,240 --> 00:21:45,799
but we know in megaland and there's been happening in

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00:21:45,839 --> 00:21:47,559
French politics. I'll bring you up to date you here

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00:21:47,599 --> 00:21:49,960
in a second, just like Zach and are doing now

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00:21:50,000 --> 00:21:53,680
talking on video, we're gonna do something live and we're

442
00:21:53,680 --> 00:21:57,400
gonna invite you. This is with renew We've played around

443
00:21:57,400 --> 00:21:59,519
with this and now we've gotten serious in terms of

444
00:21:59,559 --> 00:22:03,000
a a webinar to talk about stem cells and how

445
00:22:03,000 --> 00:22:05,480
they affect you. This is going to be Thursday, September eleventh,

446
00:22:05,480 --> 00:22:10,279
eleven pm Pacific, our am Pacific, eleven am Pacific. I'll

447
00:22:10,279 --> 00:22:14,160
be there doctor Navarro. Remember doctor Navarro from Mexico, Doctor Varra.

448
00:22:14,200 --> 00:22:16,240
Did you get to meet him, Zach when you're in Mexico,

449
00:22:16,319 --> 00:22:19,480
Doctor Navarro. So he's a spinal specialist. He's going to

450
00:22:19,559 --> 00:22:24,160
be there on regenitive therapy. You can submit questions in advance.

451
00:22:24,480 --> 00:22:26,880
You go to join stem cell talks dot com. Talk

452
00:22:26,880 --> 00:22:29,960
about your medical condition, talk about your parents, or your

453
00:22:30,000 --> 00:22:33,079
wife or husband's medical condition. Go register there. You could

454
00:22:33,079 --> 00:22:35,640
also call six oh two four two eight four thousand.

455
00:22:36,000 --> 00:22:38,200
We're going to talk about how the stem cells are derived,

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00:22:38,599 --> 00:22:41,119
the efficacy of this versus surgery.

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00:22:41,119 --> 00:22:41,440
Speaker 3: Plus.

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00:22:41,480 --> 00:22:44,799
Speaker 1: Everybody who attends and stays in the webinar, you will

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00:22:44,839 --> 00:22:48,319
be entered to win a stay at the Nuava Verota

460
00:22:48,680 --> 00:22:51,880
Meo Hotel. Zach stayed there. I've stayed there. I've been

461
00:22:51,920 --> 00:22:55,279
there three times. It's a beautiful hotel, great meals, great service,

462
00:22:55,440 --> 00:22:59,480
rooftop deck extraordinaire. So go to join stem cell talks

463
00:22:59,519 --> 00:23:02,319
dot com and end up with people like this or

464
00:23:02,440 --> 00:23:05,960
statements like this is from Lee. Lee wrote before discovering

465
00:23:05,960 --> 00:23:07,720
renew Healthcare, I was living with daily pain on my

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00:23:07,799 --> 00:23:10,599
right shoulder due to partial rotator cuff tare simple activities

467
00:23:10,640 --> 00:23:13,200
like lifting groceries, reaching overhead, or swinging a golf club

468
00:23:13,200 --> 00:23:16,759
became difficult and frustrating. My orthopedic surgeon recommended surgery, but

469
00:23:16,799 --> 00:23:18,759
I wanted to explore a less invasive option with a

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00:23:18,799 --> 00:23:22,039
shorter recovery time. After receiving the stem cell treatments, I

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00:23:22,119 --> 00:23:25,759
noticed significant improvement within just a few weeks. The inflamation reduced,

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00:23:25,759 --> 00:23:28,079
my range of motion improved, and most importantly, the pain

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00:23:28,160 --> 00:23:31,200
subsided dramatically. Now, three months post treatment, I'm back to

474
00:23:31,240 --> 00:23:35,039
doing the things I love pain free without surgery. Choosing

475
00:23:35,039 --> 00:23:37,240
regenitive therapy was one of the best healthcare decisions I've

476
00:23:37,279 --> 00:23:39,480
ever made. I'm incredibly grateful for the care team who

477
00:23:39,480 --> 00:23:41,240
had guided me through the process and gave me back

478
00:23:41,279 --> 00:23:43,640
my quality of life. Hit us up at joined stem

479
00:23:43,680 --> 00:23:46,079
cell talks dot com and I will see you there

480
00:23:46,319 --> 00:23:47,680
and you can enter a win that week in the

481
00:23:47,720 --> 00:23:51,200
hotel so Zach and yeah.

482
00:23:51,799 --> 00:23:55,200
Speaker 4: Hey, so little plug and I promise, man, I had

483
00:23:55,200 --> 00:23:57,839
to pay. I mean I didn't get sponsored by these guys.

484
00:23:57,960 --> 00:24:03,480
Speaker 3: Yep, so went out two days ago. You and I

485
00:24:03,519 --> 00:24:05,359
were down there three months ago. Yeah, that weird. Where

486
00:24:05,400 --> 00:24:05,960
was it three months ago?

487
00:24:06,079 --> 00:24:06,200
Speaker 2: Yep?

488
00:24:06,319 --> 00:24:09,319
Speaker 3: Okay, And I'm a seven handicap golf.

489
00:24:10,440 --> 00:24:14,720
Speaker 4: I went out yesterday and probably only my second round.

490
00:24:15,400 --> 00:24:18,319
A couple of anyway, haven't been playing as much golf

491
00:24:18,319 --> 00:24:20,240
because you've got to take time off after we did that.

492
00:24:20,440 --> 00:24:23,279
Speaker 3: Yeah, I had the best ball striking round of my

493
00:24:23,480 --> 00:24:24,000
entire life.

494
00:24:24,279 --> 00:24:24,720
Speaker 1: Awesome.

495
00:24:25,599 --> 00:24:27,839
Speaker 4: I am hitting it further at forty three than I

496
00:24:27,960 --> 00:24:33,519
was at thirty five, and it has transformed. I am

497
00:24:33,519 --> 00:24:35,720
swinging it better than I've ever swung it in my life.

498
00:24:35,759 --> 00:24:38,319
And the only thing that has changed has been that.

499
00:24:38,400 --> 00:24:40,559
And my back feels better and better by the day.

500
00:24:42,160 --> 00:24:44,759
Speaker 3: I could. Yeah, I even blew myself. Well.

501
00:24:44,759 --> 00:24:46,000
Speaker 4: I was sitting there going I didn't think I could

502
00:24:46,079 --> 00:24:48,920
hit it there. I mean, it's been, it's been.

503
00:24:48,960 --> 00:24:52,519
Speaker 1: It's been awesome though, now praise God. And that's that's

504
00:24:52,519 --> 00:24:55,319
why so many pro golfers are there. The guy who won, Oh,

505
00:24:55,359 --> 00:24:57,160
I can't remember the name of the tour, but it's

506
00:24:57,359 --> 00:25:02,279
what are the master's tours on some islands, are you? Well? No,

507
00:25:02,359 --> 00:25:04,680
folk's been down there. I've met Fred, He's really really cool. No,

508
00:25:04,839 --> 00:25:07,960
this is another golfer. And Steve Anderson, who runs renew

509
00:25:08,000 --> 00:25:09,559
He was down on this island and it was this

510
00:25:09,599 --> 00:25:12,119
big tournament and anyway he won. He's a renewed golfer.

511
00:25:12,559 --> 00:25:17,000
I'll give you one. I did a rowing and deadlife

512
00:25:17,000 --> 00:25:20,119
workout with my beloved wife the other day, and yeah,

513
00:25:20,119 --> 00:25:21,839
and I kept going up and wait, going up and wait,

514
00:25:21,920 --> 00:25:23,240
going up and wait, and I kept waiting for it

515
00:25:23,240 --> 00:25:26,200
to hurt. And I was doing doubles and triples at

516
00:25:26,200 --> 00:25:29,200
weight that used to make my back crack, and I

517
00:25:29,279 --> 00:25:31,720
feel like it was shifting, like my sijot was shifting

518
00:25:31,720 --> 00:25:33,680
and my hips were shifting back and forth. I kept

519
00:25:33,680 --> 00:25:36,000
waiting for that to happen. And I got up to

520
00:25:36,160 --> 00:25:38,359
a weight that I haven't repped at in a long time.

521
00:25:38,400 --> 00:25:40,480
I haven't repped three point fifteen in a very very

522
00:25:40,480 --> 00:25:42,920
long time. And so I did a triple at that.

523
00:25:42,960 --> 00:25:46,200
I'm like, what's this start to hurt? And it never

524
00:25:46,240 --> 00:25:50,240
did so and I'm I'm I am six months out.

525
00:25:50,400 --> 00:25:53,119
I'm at the tissue rebuilding stage and when I got

526
00:25:53,119 --> 00:25:55,839
my stuff because I went down before you. So this

527
00:25:55,920 --> 00:25:58,880
is from France. You know what they did to Marie

528
00:25:58,960 --> 00:26:03,480
le Penn in France. So Marie la Penn and France

529
00:26:03,519 --> 00:26:07,240
got banned for being in office. So there's this crazy

530
00:26:07,279 --> 00:26:08,920
thing that they're doing in Europe. And thank god this

531
00:26:08,960 --> 00:26:12,160
hasn't come here where they use law fair against politicians,

532
00:26:12,279 --> 00:26:14,119
you know, and they take him to courts and we'll

533
00:26:14,160 --> 00:26:17,680
never see that here. It's just not done. Her party

534
00:26:17,839 --> 00:26:22,960
is now an all time polling record this month. They

535
00:26:22,960 --> 00:26:27,640
now lead Emmanuel Marcron's party by eighteen percent. This is

536
00:26:27,720 --> 00:26:31,519
after they banned the woman who runs the party from

537
00:26:31,599 --> 00:26:34,359
winning elections, and all the predictions are they're just going

538
00:26:34,400 --> 00:26:37,720
to ban this political party. And I'm asking you from

539
00:26:37,759 --> 00:26:39,880
a perspective of someone who runs funds and as a

540
00:26:39,960 --> 00:26:42,839
dad and a Christian man, et cetera. I wanted to

541
00:26:42,839 --> 00:26:45,839
start at the finance level. Has there ever been a

542
00:26:46,079 --> 00:26:51,519
populous revolution that aided the finance of a country. I mean, immediately,

543
00:26:51,559 --> 00:26:53,839
ours was a populace uprising and it created the most

544
00:26:54,480 --> 00:26:58,160
vibrant and free economic system in the world. But I've

545
00:26:58,160 --> 00:27:01,680
seen a lot of populous uprisings that sort of destroy economies.

546
00:27:02,359 --> 00:27:04,240
Speaker 4: Oh yeah, I mean it's one of the it's one

547
00:27:04,240 --> 00:27:06,039
of the you know, it's one of the reasons we

548
00:27:06,079 --> 00:27:09,079
called the American Experiment. One of the reasons was because

549
00:27:09,599 --> 00:27:12,799
usually revolutions like that and in total disaster, right the

550
00:27:12,799 --> 00:27:15,799
French Revolution, and they typically culminate in a strong man

551
00:27:15,880 --> 00:27:16,680
taking over power.

552
00:27:17,160 --> 00:27:19,759
Speaker 3: And again, it was in my opinion.

553
00:27:20,240 --> 00:27:23,759
Speaker 1: Pause, I'm sorry, post production. Can you take the part

554
00:27:23,759 --> 00:27:24,480
out about man?

555
00:27:25,359 --> 00:27:27,640
Speaker 3: Oh yes, strong person, thank you.

556
00:27:27,720 --> 00:27:28,519
Speaker 1: Let's try that again.

557
00:27:29,240 --> 00:27:34,039
Speaker 3: So three two one, Yeah, Usually that's how a strong

558
00:27:34,039 --> 00:27:35,079
person comes to power.

559
00:27:36,240 --> 00:27:40,000
Speaker 4: And then and then when you and when you look

560
00:27:40,039 --> 00:27:44,960
at the unique aspect of America's revolution was that again?

561
00:27:45,079 --> 00:27:47,319
And I and I attributed to the divine hand of God,

562
00:27:47,319 --> 00:27:48,319
but we literally had that.

563
00:27:48,359 --> 00:27:49,640
Speaker 3: We had the opposite of that.

564
00:27:50,039 --> 00:27:51,680
Speaker 4: We had a man that didn't want to be king,

565
00:27:52,079 --> 00:27:53,880
and it pushed it back, you know, and you can

566
00:27:53,920 --> 00:27:55,759
just see God's fingerprints all over it.

567
00:27:56,480 --> 00:27:56,759
Speaker 3: Do you know?

568
00:27:56,839 --> 00:28:00,640
Speaker 1: The number one criticism of George Washington's not gilla dress

569
00:28:00,680 --> 00:28:02,839
was first, not good dress.

570
00:28:03,759 --> 00:28:05,039
Speaker 3: He didn't use the right pronouns.

571
00:28:05,119 --> 00:28:06,599
Speaker 1: I don't know, Well, there was that, yeah, because he

572
00:28:06,640 --> 00:28:10,839
was a Yeah, but they couldn't hear them. Oh he

573
00:28:10,920 --> 00:28:14,640
spoke so quietly. So yeah, so he stood and I've

574
00:28:14,640 --> 00:28:17,839
been in the room where he gave the speech, and

575
00:28:17,880 --> 00:28:20,279
it's a it's a pretty small room, and he was

576
00:28:20,279 --> 00:28:23,279
at the lectern. And one of the big complaints was

577
00:28:23,400 --> 00:28:25,559
he came out with the statements. It was like one page,

578
00:28:25,640 --> 00:28:29,680
one page, you're the president of a new nation, like

579
00:28:29,720 --> 00:28:33,240
you defeated the world's biggest military, the most powerful military,

580
00:28:33,559 --> 00:28:36,680
and this godly man gets up and reads one basically

581
00:28:36,720 --> 00:28:39,079
one page, so quietly that the people in back couldn't

582
00:28:39,119 --> 00:28:41,640
hear it, even though this is a place designed for sound.

583
00:28:42,400 --> 00:28:42,759
Speaker 2: Yeah.

584
00:28:42,920 --> 00:28:45,079
Speaker 1: Right, I totally agree with you. That was the province

585
00:28:45,119 --> 00:28:48,599
of God that we got that, and then we got populism,

586
00:28:48,640 --> 00:28:52,559
but in constraints. That's why I call myself a constitutional populace,

587
00:28:52,599 --> 00:28:56,759
a Christian constitutional populace, because the Constitution is a restraint.

588
00:28:57,799 --> 00:29:01,640
But France and Europe, those people are so pent up.

589
00:29:02,279 --> 00:29:04,319
Like we were just talking Alex and I about Europe,

590
00:29:04,359 --> 00:29:06,720
about the UK. Did you see this thing where they

591
00:29:06,759 --> 00:29:10,480
sent undercover cops kind of I guess good looking Ish

592
00:29:10,880 --> 00:29:14,000
women to go jog are. No, I'm not saying I'm

593
00:29:14,039 --> 00:29:17,519
trying to be accurate jogging around to get cat called

594
00:29:17,559 --> 00:29:19,839
so they could arrest the people cat calling. This isn't

595
00:29:19,839 --> 00:29:22,319
a country with a rape grooming scandal where they still

596
00:29:22,319 --> 00:29:25,880
haven't arrested all the Muslim rape rape grimming gangs that

597
00:29:26,160 --> 00:29:29,720
raped tens of thousands of girls. This is gonna there's

598
00:29:29,759 --> 00:29:32,480
going to be a point where the Europeans rise up.

599
00:29:32,559 --> 00:29:35,559
And I'm wondering if that form of populism has ever produced,

600
00:29:35,599 --> 00:29:38,400
like anger driven populism. We're going to tear things down.

601
00:29:38,519 --> 00:29:43,319
We're already spraying animal feces over the government buildings in Netherlands.

602
00:29:43,680 --> 00:29:46,279
Has that ever resulted in hey, good economy? Or is

603
00:29:46,319 --> 00:29:47,680
it always a teardown.

604
00:29:47,880 --> 00:29:51,000
Speaker 4: Always a tear down, always a teardown. It's just never,

605
00:29:51,480 --> 00:29:55,279
it never rolls that way. Like I said, it usually

606
00:29:55,400 --> 00:29:55,799
leads to.

607
00:29:56,720 --> 00:29:59,640
Speaker 3: Now. The one bit I will say to this.

608
00:30:01,359 --> 00:30:09,880
Speaker 4: Is that usually in the past, social revolutions came from

609
00:30:10,160 --> 00:30:16,759
really unfair practices, right, like effectively authoritarian practices, right you know,

610
00:30:16,920 --> 00:30:20,200
you think about you know, think think about the surf

611
00:30:20,240 --> 00:30:22,680
and kingdom set up and how badly they could abuse

612
00:30:22,720 --> 00:30:27,640
those people. The interesting thing about this is the oppression

613
00:30:27,720 --> 00:30:30,279
this time comes from.

614
00:30:30,160 --> 00:30:34,640
Speaker 3: The kind of liberal elite of society right, and so

615
00:30:36,720 --> 00:30:41,920
the pushback should actually be to the legitimately like less government,

616
00:30:42,480 --> 00:30:45,640
you know, freedom side right, the thing that you've got

617
00:30:45,680 --> 00:30:47,839
to watch out for historically, and again this is just

618
00:30:47,920 --> 00:30:51,240
history telling us the story is it just usually goes

619
00:30:51,279 --> 00:30:52,599
too far right.

620
00:30:52,759 --> 00:30:54,680
Speaker 4: So it's like, Okay, you're pointed in the right direction,

621
00:30:54,799 --> 00:30:58,440
you're mad at the right people, but now what the

622
00:30:58,480 --> 00:31:02,240
way you've answered back right is just as bad, if

623
00:31:02,319 --> 00:31:04,400
not worse, And now we're in an even uglier situation.

624
00:31:04,680 --> 00:31:06,920
And the French Revolution would be like just the perfect

625
00:31:06,920 --> 00:31:08,279
example of that, right.

626
00:31:08,559 --> 00:31:11,559
Speaker 3: Where you're like, hey, you're right for all the right reasons, guys.

627
00:31:12,240 --> 00:31:15,279
The response is just you're compounding the problem.

628
00:31:15,400 --> 00:31:18,640
Speaker 1: Yeah, there's that whole thing. You become this monster, right

629
00:31:18,720 --> 00:31:21,359
because you killed the monster, but she actually became the monster.

630
00:31:21,759 --> 00:31:24,359
And what they've done, the elites have done is I

631
00:31:24,480 --> 00:31:26,279
refer to it as building a monster they think they

632
00:31:26,319 --> 00:31:29,359
can control. Now it's firmly out of control. You have

633
00:31:29,680 --> 00:31:33,599
the presidents. And this is so fascinating to me, this dynamic.

634
00:31:34,160 --> 00:31:37,039
There are people on the left going, this is an American.

635
00:31:37,640 --> 00:31:42,519
He has federalized the DC police and he's arresting people.

636
00:31:43,240 --> 00:31:46,920
This is an American and a dude on a surfboard

637
00:31:46,960 --> 00:31:50,680
during COVID. Okay, we could go there. You arrested a

638
00:31:50,720 --> 00:31:55,240
guy for surfing on his own in Los Angeles during COVIDS,

639
00:31:55,400 --> 00:32:00,359
And that's not an American b What about cities that

640
00:32:00,440 --> 00:32:06,279
have purposely, purposely lied about crime rates, purposely allowed cartels

641
00:32:06,319 --> 00:32:09,359
to set up shop, have announced we're not going to

642
00:32:09,400 --> 00:32:13,559
prosecute your soldiers if they're caught in a DUI. That's

643
00:32:13,599 --> 00:32:16,440
not un American, that's not extreme. And and and look,

644
00:32:16,680 --> 00:32:18,440
if I'm the guy that if I got stopped in

645
00:32:18,480 --> 00:32:21,599
a federal ID check, you know, roadblock, I'm the guy

646
00:32:21,640 --> 00:32:24,480
with my hands at ten and two saying being detained,

647
00:32:25,519 --> 00:32:27,480
that's and and hey, if I'm being detained, just tell

648
00:32:27,519 --> 00:32:29,720
me the probable causes. Okay, yeah, be glad to pull

649
00:32:29,759 --> 00:32:31,640
my car over. Yes, officer, here you are. Here's my

650
00:32:31,680 --> 00:32:34,839
licensan ritradition. But if I get the I'm not being detained,

651
00:32:35,160 --> 00:32:39,440
I'm I'm gone. So I guess that's civil liberties. But

652
00:32:39,480 --> 00:32:41,519
we're at a point where people have been pushed, Zach

653
00:32:41,640 --> 00:32:44,720
into protesting to keep the crime going. That's that's how

654
00:32:44,720 --> 00:32:45,200
people have been.

655
00:32:45,160 --> 00:32:49,440
Speaker 3: Pushed, I know. And and to say we've lost the

656
00:32:49,559 --> 00:32:51,319
narrative is like saying water's.

657
00:32:51,000 --> 00:32:52,759
Speaker 1: Wet right right right.

658
00:32:52,720 --> 00:32:58,920
Speaker 4: And and and that's then just yeah, it has such

659
00:32:58,960 --> 00:33:03,519
it in discussions like in discussions like this, you really

660
00:33:03,559 --> 00:33:06,000
want to keep it like fact based and feed on

661
00:33:06,039 --> 00:33:06,480
the ground.

662
00:33:06,799 --> 00:33:09,200
Speaker 3: But I just again, I think if you're not looking

663
00:33:09,240 --> 00:33:12,400
at this situation through a spiritual lens, you're not seeing

664
00:33:12,440 --> 00:33:15,519
it for what it is. Right, the confusion, the tickling

665
00:33:15,599 --> 00:33:18,200
of the ears that you can do whatever you want,

666
00:33:18,720 --> 00:33:20,880
it's still going to get right. It's you can do

667
00:33:21,000 --> 00:33:24,160
whatever you want and it will not affect your outcome,

668
00:33:25,680 --> 00:33:29,680
or it shouldn't affect your outcome. What a harrisstic message

669
00:33:29,720 --> 00:33:32,680
and lie to tell people Your outcome should be a

670
00:33:32,720 --> 00:33:37,000
composite of those choices and what you've done. That's the

671
00:33:37,039 --> 00:33:40,200
way this works. You don't get to do what if

672
00:33:40,240 --> 00:33:43,759
you want this outcome, there's most things you don't get

673
00:33:43,799 --> 00:33:47,119
to do, right, Like, how do you become successful?

674
00:33:47,440 --> 00:33:49,759
Speaker 4: Well, want me to say it really simple. You create

675
00:33:49,799 --> 00:33:51,839
a long list of things that you're never gonna do.

676
00:33:52,400 --> 00:33:55,759
Speaker 3: Yep, right, Like, that's a big part of it, right, And.

677
00:33:56,599 --> 00:33:59,000
Speaker 4: That's what discipline is. I'm never going to sleep in

678
00:33:59,039 --> 00:34:03,279
past five thirty. We think of the lie, think of

679
00:34:03,319 --> 00:34:06,640
the disservice you're giving these people. Because here's the deal.

680
00:34:06,960 --> 00:34:10,079
No matter how smart and powerful you are, you can't

681
00:34:10,199 --> 00:34:13,000
flip the rules of physics on their ears. So what

682
00:34:13,039 --> 00:34:16,599
you're telling them, despite your best efforts, you can't make

683
00:34:16,599 --> 00:34:17,360
that a reality.

684
00:34:17,719 --> 00:34:20,960
Speaker 3: So what are you doing. You're burying these people. You're

685
00:34:21,000 --> 00:34:24,079
burying these kids. You're not giving them a choice. They

686
00:34:24,079 --> 00:34:27,039
don't have a chance. They don't have a snowballs chance.

687
00:34:27,079 --> 00:34:32,480
Speaker 4: And you know where right, it's it's just it is anethhma.

688
00:34:33,039 --> 00:34:36,519
It is crazy to me what we're protest, you know,

689
00:34:36,840 --> 00:34:40,039
go right back to defund the police in the most

690
00:34:40,079 --> 00:34:40,840
crime written place.

691
00:34:40,880 --> 00:34:45,840
Speaker 3: Are you kidding me? People? Yeah? Yeah, go ask them.

692
00:34:45,920 --> 00:34:46,079
Speaker 2: You know.

693
00:34:46,280 --> 00:34:48,079
Speaker 1: I wish God to put together like a list of

694
00:34:49,920 --> 00:34:54,920
I don't know, like ten items, you know, maybe tonight.

695
00:34:54,719 --> 00:34:59,679
Speaker 4: Like but yeah, like maybe like ten like good steadfast rules.

696
00:34:59,760 --> 00:35:03,039
Speaker 3: If you suggest you hold, If you hold them, things

697
00:35:03,079 --> 00:35:03,880
will go well with you.

698
00:35:03,960 --> 00:35:07,119
Speaker 1: That kind of thing, right, right, you put suggestions or

699
00:35:07,199 --> 00:35:07,679
I don't know.

700
00:35:08,559 --> 00:35:11,559
Speaker 3: That's a novel concept. I've heard. I've heard that things

701
00:35:11,639 --> 00:35:13,599
like that tend to work pretty good for people and

702
00:35:13,639 --> 00:35:15,239
for cultures. The rumor.

703
00:35:15,400 --> 00:35:17,920
Speaker 1: Yeah, but I've heard that, Well, let's let's stay science space.

704
00:35:18,000 --> 00:35:19,480
And I want to talk to you about one of

705
00:35:19,519 --> 00:35:21,719
your casts this week at No Your Risk podcast dot

706
00:35:21,760 --> 00:35:26,159
com and this is inflation and AI and we'll talk

707
00:35:26,159 --> 00:35:28,000
about this in a second with Zach Abraham, Chief and

708
00:35:28,039 --> 00:35:30,480
best mouster Boat carpt Management. Subscribe to this podcast at

709
00:35:30,480 --> 00:35:33,880
No Your Risk podcast dot com. There is tragedy and

710
00:35:33,920 --> 00:35:36,760
I just really I realized why we were. I was

711
00:35:37,000 --> 00:35:39,320
making coffee, grinding coffee last night and I was like,

712
00:35:39,480 --> 00:35:42,760
broad boat fog, right out of the frog. My wife's like, no, no,

713
00:35:42,960 --> 00:35:45,159
there's a bag left. I always ordered this the right way.

714
00:35:45,239 --> 00:35:46,440
It's no, there's there's We're out.

715
00:35:46,360 --> 00:35:46,760
Speaker 3: Of the frog.

716
00:35:47,159 --> 00:35:48,880
Speaker 1: And you ever get that thing. You're righting around the

717
00:35:48,920 --> 00:35:51,559
house like you're out of your cocaine. Okaye, where's my cocaine?

718
00:35:51,559 --> 00:35:51,639
Speaker 2: Go?

719
00:35:52,000 --> 00:35:54,239
Speaker 1: And I'm out of the frog? Honey, who moved by cocaine?

720
00:35:54,280 --> 00:35:57,079
I think the kid's at it. And I come to

721
00:35:57,239 --> 00:35:58,679
and I'm just and I was just thinking about this,

722
00:35:58,760 --> 00:36:01,159
and I'm sitting here and here's the bag right and

723
00:36:01,199 --> 00:36:03,639
I hit it against my broadcasters microphone, so you know

724
00:36:03,679 --> 00:36:05,800
it's real. So this now, seeing I have to take

725
00:36:05,840 --> 00:36:07,880
this home and I get I get to be the

726
00:36:07,920 --> 00:36:11,840
coffee Hero Baby. This is the extortion blend from Bonefrog

727
00:36:11,840 --> 00:36:14,840
Coffee dot Com. Go there and buy bag that says

728
00:36:14,840 --> 00:36:17,039
on the back God Country Team. All the bags say

729
00:36:17,039 --> 00:36:20,079
that know that the coffee was either mentored into existence

730
00:36:20,119 --> 00:36:22,440
by the coffee legend who started seeuw's Best Coffee. That's

731
00:36:22,559 --> 00:36:26,440
Dave Stewart or Dave actually make these roasts. Made the roast.

732
00:36:26,800 --> 00:36:29,079
My friend Tim Kokshak runs the company. He is a

733
00:36:29,119 --> 00:36:32,800
retired Navy Seal. Three Jared are three three deployments on

734
00:36:32,840 --> 00:36:35,159
our behalf at the Navy Seal. That's why this is

735
00:36:35,159 --> 00:36:37,599
on the side of the bag. Biggest loss of life

736
00:36:37,639 --> 00:36:41,480
and special Forces history. This bag honors that team. Bonefrog

737
00:36:41,480 --> 00:36:43,480
Coffee dot Com slash Todd use promo code Todd to

738
00:36:43,480 --> 00:36:45,559
get tempers out of your first purchase fifteen percent of

739
00:36:45,679 --> 00:36:48,679
subscription coffee. And then I get to take this home, Alex,

740
00:36:48,760 --> 00:36:50,840
do not let me forget to take this home. I'll

741
00:36:50,840 --> 00:36:52,400
be coming back this weekend. It gets us. In fact,

742
00:36:52,440 --> 00:36:54,280
I'll be coming back tonight to get this. Put that

743
00:36:54,360 --> 00:36:56,000
right there and put that on top of my computer.

744
00:36:56,400 --> 00:36:59,199
Now I can't forget it. So you are at your podcast,

745
00:36:59,320 --> 00:37:04,320
yours podcast, You're tied together accelerating inflation and AI. And

746
00:37:04,360 --> 00:37:09,320
we've talked about AI driving up the need for electricity,

747
00:37:09,679 --> 00:37:14,960
therefore more electricity facilities, more processes, et cetera. But how

748
00:37:15,039 --> 00:37:17,599
is it related to inflation and accelerating inflation.

749
00:37:18,719 --> 00:37:22,360
Speaker 4: Well, so we attacked it in a couple of different

750
00:37:22,400 --> 00:37:24,760
angles in that conversation. But but what we were saying

751
00:37:24,840 --> 00:37:29,159
was that when you have when you have a land grab, that.

752
00:37:29,239 --> 00:37:31,559
Speaker 3: Is effectively what AI is right now, right, Yes, Katie

753
00:37:31,559 --> 00:37:35,280
bar the door. Everybody's out there racing, You're gonna see.

754
00:37:36,440 --> 00:37:38,559
Speaker 4: Obviously all these things have to be powered, and we

755
00:37:38,599 --> 00:37:40,480
all know that they're incredible power sucks.

756
00:37:40,480 --> 00:37:42,039
Speaker 3: So that's kind of that's going to put a bit

757
00:37:42,119 --> 00:37:43,960
under energy of all kinds.

758
00:37:44,360 --> 00:37:49,800
Speaker 4: And I think there's kind of this thought, well, well yeah, it.

759
00:37:49,760 --> 00:37:51,599
Speaker 3: Doesn't drive it up energy prices yet.

760
00:37:52,199 --> 00:37:54,639
Speaker 4: Well, guys, the majority of the mavning being turned on yet, right,

761
00:37:54,679 --> 00:37:56,239
I mean you look at the data centers and the

762
00:37:56,400 --> 00:37:58,800
and these compute centers that are in process. Oh, I

763
00:37:58,800 --> 00:38:04,760
mean you're just the tip of the spear, right, Okay.

764
00:38:03,199 --> 00:38:05,239
Speaker 3: Yeah, yeah, yeah, You're just at the tip of the spear.

765
00:38:05,559 --> 00:38:09,920
So so then you look at inflation, it's causing in

766
00:38:11,159 --> 00:38:11,880
coding jobs.

767
00:38:11,960 --> 00:38:15,079
Speaker 4: And now that's a little bit inflation is probably not

768
00:38:15,159 --> 00:38:17,079
the right term, because there aren't enough coders. Is the

769
00:38:17,119 --> 00:38:21,039
percentage of the population to really say that, because a

770
00:38:21,159 --> 00:38:23,119
I will eat them?

771
00:38:23,280 --> 00:38:23,519
Speaker 3: Yeah.

772
00:38:23,719 --> 00:38:26,880
Speaker 4: So so yeah, we're doing a really I'm doing a

773
00:38:27,039 --> 00:38:30,800
I'm doing a We just we're having tons of scheduling conflicts,

774
00:38:30,800 --> 00:38:32,239
but we're trying to get it done next week.

775
00:38:32,239 --> 00:38:35,400
Speaker 3: But an interview with a guy that is at the

776
00:38:35,480 --> 00:38:38,000
head of one of the AI teams of the.

777
00:38:37,920 --> 00:38:40,960
Speaker 4: Big meg seven companies awesome, and that happens to be

778
00:38:41,000 --> 00:38:44,880
a friend of mine, and and the stuff he's telling

779
00:38:44,880 --> 00:38:48,119
me what he he just said already, he goes, he goes,

780
00:38:48,119 --> 00:38:50,320
a year ago when we were first starting to get

781
00:38:50,320 --> 00:38:53,719
really good breakthroughs. We were really pumped when the AI

782
00:38:53,920 --> 00:38:57,599
got as good as our junior level coders.

783
00:38:57,880 --> 00:39:00,480
Speaker 3: He goes, Now there is not a better code in

784
00:39:00,480 --> 00:39:03,400
our company. And we're talking about a multi trillion dollar company.

785
00:39:03,920 --> 00:39:06,039
Speaker 4: And he goes, it's got to the point where our

786
00:39:06,199 --> 00:39:09,519
base model seventy percent of the code has been written

787
00:39:09,559 --> 00:39:15,880
by the LLM itself. So so it's it and and

788
00:39:15,880 --> 00:39:16,760
and the expert.

789
00:39:17,800 --> 00:39:19,039
Speaker 3: So remember More's law.

790
00:39:18,880 --> 00:39:23,000
Speaker 1: With compute, I would double Yeah, the processing power process

791
00:39:23,239 --> 00:39:24,679
doubles ever eighteen months.

792
00:39:24,920 --> 00:39:27,400
Speaker 3: Yep, yeah, yep. So what they're seeing right now with

793
00:39:27,440 --> 00:39:28,920
AI as it's every four.

794
00:39:29,559 --> 00:39:30,360
Speaker 1: Of coding power.

795
00:39:31,599 --> 00:39:35,280
Speaker 3: So when you think people.

796
00:39:35,000 --> 00:39:40,360
Speaker 4: Are really bad at understanding exponential growth curves, but people

797
00:39:40,400 --> 00:39:41,920
do not understand what that means.

798
00:39:43,000 --> 00:39:46,320
Speaker 1: So every four months, the the ability of these things

799
00:39:46,320 --> 00:39:47,760
to write code doubles.

800
00:39:48,199 --> 00:39:49,079
Speaker 3: Yes, they go.

801
00:39:49,360 --> 00:39:54,199
Speaker 4: They're effectively doubling their compute ability and processing ability every

802
00:39:54,239 --> 00:39:54,800
four months.

803
00:39:55,679 --> 00:40:00,760
Speaker 3: Wow. Yeah, I so, so what that means and what

804
00:40:00,840 --> 00:40:04,719
I can tell you is that in three to four years,

805
00:40:04,840 --> 00:40:09,280
if not sooner, you're going to see things enabled by

806
00:40:09,400 --> 00:40:12,880
code that people didn't think was possible and that people

807
00:40:12,920 --> 00:40:13,639
never imagined.

808
00:40:14,800 --> 00:40:16,639
Speaker 4: Like exactly where that takes us, I don't know, right,

809
00:40:16,679 --> 00:40:20,760
we haven't been there before. But it as incredible as

810
00:40:20,760 --> 00:40:23,840
everybody knows this is, it's more incredible.

811
00:40:24,199 --> 00:40:27,440
Speaker 1: I will tell you for a fact when place it's going.

812
00:40:27,440 --> 00:40:29,360
Because I was just listening to Bill Gates talk about this.

813
00:40:30,960 --> 00:40:35,039
AI is the most incredible system for creating medicines that's

814
00:40:35,079 --> 00:40:39,840
have ever existed. Yes, and it's very true. Well, sure,

815
00:40:40,440 --> 00:40:41,840
are you going to be jumping up and down to

816
00:40:41,840 --> 00:40:42,800
take AI drugs?

817
00:40:43,360 --> 00:40:44,400
Speaker 3: No?

818
00:40:44,400 --> 00:40:49,199
Speaker 1: No, And this is I'm telling everybody this is to

819
00:40:49,239 --> 00:40:52,119
me a fact, and I'm not responsible for this phrasing.

820
00:40:52,440 --> 00:40:54,559
I wish I'd found this article and kept it and

821
00:40:54,599 --> 00:40:56,559
printed it out and built a wall out of it.

822
00:40:57,280 --> 00:41:03,159
Someone wrote about the the the the digital world going

823
00:41:03,159 --> 00:41:08,639
to war with meat Land, that forever digital just affected digital.

824
00:41:08,719 --> 00:41:11,840
There's the computer screens and it's all ethereal and it's

825
00:41:11,840 --> 00:41:14,239
all things you look at or listen to, but it

826
00:41:14,280 --> 00:41:18,840
doesn't touch you. Now when you have Bill Gates saying

827
00:41:19,000 --> 00:41:22,559
we're going to create new drugs every hour and they're

828
00:41:22,599 --> 00:41:26,199
going to be customed to you. Now, it's entering Meatland

829
00:41:26,360 --> 00:41:28,719
and he is that, then all this stuff is code.

830
00:41:29,559 --> 00:41:32,159
They are saying that you're going to go to the doctor, Zach.

831
00:41:32,840 --> 00:41:35,599
You're going to present with these symptoms. Your doctor is

832
00:41:35,639 --> 00:41:38,679
going to know your blood type and your and your DNA.

833
00:41:39,159 --> 00:41:41,679
He's going to go back and enter that information. A

834
00:41:41,760 --> 00:41:45,039
computer is going to write a drug for you, and

835
00:41:45,079 --> 00:41:46,960
then a three D printer is going to create it,

836
00:41:47,960 --> 00:41:49,880
and you're going to be given pills or an injection.

837
00:41:50,519 --> 00:41:53,719
And here he goes, Zach, here's your injection. And do

838
00:41:53,800 --> 00:41:55,239
you know how that? Do you know how they test that?

839
00:41:56,800 --> 00:41:58,840
It can never be tested, It can never be tested

840
00:41:58,840 --> 00:42:00,000
because it's made just for you.

841
00:42:00,880 --> 00:42:05,559
Speaker 4: Yeah no, no, but but okay, agree with you. At

842
00:42:05,599 --> 00:42:11,199
the same time, here's the bright side AI is looking

843
00:42:11,280 --> 00:42:14,280
like right now, it is going to be far more

844
00:42:14,320 --> 00:42:18,039
democratized than most people thought, meaning I actually think it

845
00:42:18,159 --> 00:42:22,159
broadens things out. Okay, so we will also have AI

846
00:42:22,840 --> 00:42:26,440
that's working on homeopathic remedies and human compounds and things

847
00:42:26,480 --> 00:42:27,440
that are actually healthy.

848
00:42:27,679 --> 00:42:29,800
Speaker 3: So if we want, we'll be able to we'll be

849
00:42:29,840 --> 00:42:32,280
able to get that. I think it's honestly a part

850
00:42:32,280 --> 00:42:36,519
of AI that those the powers that be I don't

851
00:42:36,519 --> 00:42:39,480
think they've fully wrapped their fingers around it, which it's

852
00:42:40,000 --> 00:42:42,079
to me, it's kind of like cryptocurrency in a way,

853
00:42:42,079 --> 00:42:43,880
and it's kind of like social media. You're not going

854
00:42:43,920 --> 00:42:45,559
to be able to contain it, right.

855
00:42:45,480 --> 00:42:48,320
Speaker 4: Because if you think away, all tech has been such

856
00:42:48,320 --> 00:42:51,440
a confined space for so long because you've got these

857
00:42:51,480 --> 00:42:54,239
big behemoths that have all the dough and all the

858
00:42:54,239 --> 00:42:58,079
power and all the control, and therefore they've got all

859
00:42:58,119 --> 00:43:01,360
the best coders in the world, and therefore we all

860
00:43:01,400 --> 00:43:04,000
have to go through them to get their stuff because

861
00:43:04,000 --> 00:43:04,880
they got the best talent.

862
00:43:05,159 --> 00:43:10,159
Speaker 3: Right, Yep, that's not the case anymore. That talent is ubiquitous.

863
00:43:10,639 --> 00:43:15,679
So like, I actually think that AI is going to

864
00:43:15,800 --> 00:43:19,400
make look and they're going to pervert it in you

865
00:43:19,639 --> 00:43:21,480
for you know, ways to be authoritarian.

866
00:43:21,559 --> 00:43:24,440
Speaker 4: But I but I also think that it provides a

867
00:43:24,480 --> 00:43:27,000
big lever for us to push back with and to

868
00:43:27,800 --> 00:43:30,199
kind of push against the authoritarian state and to.

869
00:43:31,800 --> 00:43:33,960
Speaker 3: Do things. Again, I'm just watching the way this is

870
00:43:34,119 --> 00:43:34,639
unfolding it.

871
00:43:34,639 --> 00:43:36,559
Speaker 4: It's kind of catching me a little bit by surprise,

872
00:43:36,639 --> 00:43:40,480
meaning this is going to be very very hard for

873
00:43:40,599 --> 00:43:42,320
elites and the powers that be to contain.

874
00:43:43,400 --> 00:43:45,639
Speaker 1: Then that could be good news. And I've been tempted

875
00:43:45,679 --> 00:43:47,480
to take an AI course because I kept seeing these

876
00:43:47,480 --> 00:43:51,159
Facebook ads master AI and these three days, and like,

877
00:43:51,280 --> 00:43:53,480
there's things that I do task wise I don't want

878
00:43:53,519 --> 00:43:57,599
to do. I like, when I do a show a

879
00:43:57,639 --> 00:44:00,960
show sheet, I open a Google document. Here's the blank document.

880
00:44:01,000 --> 00:44:03,039
I go to my template. This is the template. I copy,

881
00:44:03,119 --> 00:44:05,519
I pasted, I put it in there. Now I could go,

882
00:44:05,639 --> 00:44:07,480
I guess, hire an admin to do that, but I

883
00:44:07,960 --> 00:44:11,960
prep my own shows that if I could eliminate that,

884
00:44:12,400 --> 00:44:14,239
if I could eliminate things like that with AI, I

885
00:44:14,280 --> 00:44:16,719
would love that. But then I start thinking about I

886
00:44:16,719 --> 00:44:18,639
could just trap myself in a room for a week,

887
00:44:18,760 --> 00:44:21,599
steady AI come out and all these insane ideas I've had,

888
00:44:21,639 --> 00:44:24,960
Now this can be coded for me. Like I can't

889
00:44:24,960 --> 00:44:27,239
tell you how many stupid ideas I had. This is

890
00:44:27,239 --> 00:44:29,639
a true story. I was with the former CTO of

891
00:44:29,639 --> 00:44:33,039
my internet radio company, and you know, we sold the company,

892
00:44:33,039 --> 00:44:34,400
and he and I got together for lunch and we

893
00:44:34,400 --> 00:44:36,519
were kind of thinking and reminiscing about how things went

894
00:44:36,639 --> 00:44:38,840
and how we could have maybe sold for more money,

895
00:44:38,880 --> 00:44:40,880
and we should have taken this offer at that offer.

896
00:44:41,000 --> 00:44:43,280
And I said, you know what, Chris, I a stually.

897
00:44:43,360 --> 00:44:45,639
Christopher se you know, Christopher, I should just do the

898
00:44:45,679 --> 00:44:48,039
stupid ideas I have. I mean, I spent all this

899
00:44:48,079 --> 00:44:50,320
time in this inner radied company we did, Okay, I said,

900
00:44:50,360 --> 00:44:53,960
you know what I should create like a I'm just

901
00:44:53,960 --> 00:44:57,599
sitting there thinking, I go a fart app. And Christopher says,

902
00:44:58,199 --> 00:45:00,320
are you kidding? I go no, I'm in a just

903
00:45:00,559 --> 00:45:02,880
like something stupid. The stupidest thing I could think of

904
00:45:02,920 --> 00:45:05,000
as a fart app that your phone farts at you.

905
00:45:05,000 --> 00:45:07,719
And he goes, Todd, hold on, and he pulled up

906
00:45:07,719 --> 00:45:09,679
the app store and at that time it was like

907
00:45:09,719 --> 00:45:13,000
the number three app and it was charging money. It's

908
00:45:13,039 --> 00:45:15,559
like a three dollar download. I go, how much code

909
00:45:15,639 --> 00:45:17,199
is involved this? He goes, I could create this in

910
00:45:17,239 --> 00:45:22,559
fifteen minutes and they've made somewhere around six and a

911
00:45:22,599 --> 00:45:29,360
half million bucks twenty one years ago, six and a

912
00:45:29,400 --> 00:45:32,840
half billion dollars for a fart app. So you can

913
00:45:32,960 --> 00:45:36,519
have these stupid ideas and then sit down and turn

914
00:45:36,559 --> 00:45:39,519
into an AI and build me my fart app or

915
00:45:40,519 --> 00:45:42,880
or you know, haul of back app.

916
00:45:43,559 --> 00:45:46,519
Speaker 3: Yeah, well hey there's one. There's an angle that is

917
00:45:46,599 --> 00:45:49,559
really it's kind of shocking me that no one's talking

918
00:45:49,599 --> 00:45:53,719
about that. No one's pointing to, you know, ironically, who

919
00:45:53,800 --> 00:45:54,199
I think.

920
00:45:54,639 --> 00:45:56,599
Speaker 4: I think a lot of these companies are in really

921
00:45:56,639 --> 00:45:59,159
big trouble all of a sudden, are all these SaaS companies,

922
00:45:59,159 --> 00:46:00,599
these software is A companies?

923
00:46:00,639 --> 00:46:03,559
Speaker 3: Yeah, look at look at look at look at Salesforce. Okay,

924
00:46:04,599 --> 00:46:08,519
well I don't need them anymore, great point, have an LLLLM,

925
00:46:08,559 --> 00:46:09,360
make my own CRM.

926
00:46:09,400 --> 00:46:11,599
Speaker 4: I don't need a CRM to have centralized connection. I

927
00:46:11,639 --> 00:46:13,639
just needed to manage my clients. I don't need to

928
00:46:13,639 --> 00:46:16,480
be connected to Salesforce. I'm gonna have the CRM dial.

929
00:46:16,559 --> 00:46:18,880
I'm gonna have the ll M make me my own

930
00:46:18,920 --> 00:46:22,039
CRM between the hours I leave work at night and

931
00:46:22,039 --> 00:46:23,679
show up the next morning, and I'll have my own

932
00:46:23,679 --> 00:46:25,360
CRM and I don't have to pay a subscription feed

933
00:46:25,400 --> 00:46:26,000
anybody for it.

934
00:46:26,039 --> 00:46:28,760
Speaker 1: Okay, Well, then I'm being talked into maybe starting to

935
00:46:29,480 --> 00:46:32,000
warm to AI. I just also know that the devil

936
00:46:32,079 --> 00:46:32,800
is warm to AI.

937
00:46:33,360 --> 00:46:33,559
Speaker 3: Oh.

938
00:46:34,079 --> 00:46:36,880
Speaker 4: Look, there's no question it's gonna be a two sided

939
00:46:37,000 --> 00:46:38,960
nice right, I mean two sides, like there's no.

940
00:46:39,039 --> 00:46:40,159
Speaker 3: Question I and and.

941
00:46:40,440 --> 00:46:44,719
Speaker 4: But what I'm saying is I'm a little bit more

942
00:46:45,360 --> 00:46:51,119
encouraged or less dour because I'm seeing it also simultaneously

943
00:46:52,199 --> 00:46:55,039
gonna it's going to put a lot more power back

944
00:46:55,079 --> 00:46:57,559
in our hands than I had originally anticipated.

945
00:46:57,880 --> 00:46:59,800
Speaker 3: They're just not every I mean, it's a land.

946
00:46:59,800 --> 00:47:02,559
Speaker 4: There's there's going to be too many models, and we

947
00:47:02,639 --> 00:47:05,000
know that they're going to develop models like they'll have

948
00:47:05,039 --> 00:47:08,559
a truth social version of an ll M isn't code.

949
00:47:08,920 --> 00:47:12,199
Isn't coded to say that, you know, Internet or Continental

950
00:47:12,639 --> 00:47:14,760
soldiers were you know, Asian and black.

951
00:47:14,840 --> 00:47:16,800
Speaker 3: You know what I'm saying, Like that's gonna happen.

952
00:47:16,880 --> 00:47:19,159
Speaker 1: Sure, and let me just I'll provide you one counterpoint.

953
00:47:19,199 --> 00:47:21,400
Do you remember the days of iceps when there were

954
00:47:21,440 --> 00:47:24,760
all sorts of independent ice piece. Yeah, okay, do you

955
00:47:24,800 --> 00:47:26,960
remember how that ultimately got changed because you had the

956
00:47:27,000 --> 00:47:29,079
bigs going out and trying to buy all the indies.

957
00:47:29,320 --> 00:47:31,239
But there were big indies, like there was an ic

958
00:47:31,280 --> 00:47:34,000
P and Seattle called c net that was big and

959
00:47:34,000 --> 00:47:36,119
and they had a lot of subscribers. They weren't going

960
00:47:36,159 --> 00:47:38,159
to sell. They were going to be the regional They

961
00:47:38,159 --> 00:47:39,760
saw it coming. We're going to be a we're going

962
00:47:39,840 --> 00:47:42,840
to be a cable you know, television company. We're going

963
00:47:42,920 --> 00:47:45,639
to be a voipe company. They saw it all coming.

964
00:47:46,119 --> 00:47:48,400
Do you remember what they did to make sure there

965
00:47:48,400 --> 00:47:49,119
were no indies?

966
00:47:51,400 --> 00:47:54,079
Speaker 3: Well, it's shoot, I mean you just said complete consolidation.

967
00:47:54,280 --> 00:47:58,360
Speaker 1: They went to Congress. Yeah, and they said this is phones,

968
00:47:58,679 --> 00:48:01,719
this is basically phone lines. We need to be able

969
00:48:01,760 --> 00:48:05,280
to consolidate this. And Congress got behind that. So then

970
00:48:05,440 --> 00:48:07,440
it was, oh, well they're interrupting the cable business and

971
00:48:07,440 --> 00:48:09,320
all this. I'm just gonna say, I bet you that

972
00:48:09,360 --> 00:48:10,840
the bigs are going to take a run at this.

973
00:48:11,599 --> 00:48:13,760
AI is so big and so powerful that we need

974
00:48:13,800 --> 00:48:16,960
to make sure that we've got the trusted companies running it.

975
00:48:17,159 --> 00:48:19,400
And it's really too powerful to put in the hands

976
00:48:19,400 --> 00:48:22,159
of amateurs. I mean, we can't have amateurs out owning

977
00:48:22,280 --> 00:48:25,239
powerful weapons, guns and such. So we need to make

978
00:48:25,239 --> 00:48:27,519
sure that this is in the hands of trusted professionals.

979
00:48:27,679 --> 00:48:29,440
After all, I mean, you can't go to a doctor

980
00:48:29,440 --> 00:48:33,960
and say I've got bronchitis, give me penicillin. Your doctor

981
00:48:33,960 --> 00:48:35,440
has to say, no, I need to test to you. Well,

982
00:48:35,440 --> 00:48:37,760
now I get bronchitis every year, or this is clearly

983
00:48:37,800 --> 00:48:40,519
a tooth infection. Yeah, I'm gonna need to take a biopsy,

984
00:48:40,519 --> 00:48:43,679
et cetera. We can't do that. Then tell me that

985
00:48:44,320 --> 00:48:45,840
this Big Seven are not going to go to DC

986
00:48:45,960 --> 00:48:47,679
and say, look, we got to make sure that people

987
00:48:47,719 --> 00:48:48,800
aren't coding their own stuff.

988
00:48:51,840 --> 00:48:54,239
Speaker 3: Look like I said, I'm sure they're going to try that.

989
00:48:55,199 --> 00:48:58,119
Speaker 4: They just don't have the levers of control with Ai

990
00:48:58,280 --> 00:49:02,599
that they like his kids that get together and that

991
00:49:02,679 --> 00:49:05,559
are really smart and start building off an existing model

992
00:49:05,800 --> 00:49:08,159
that's open source on the internet, and they're doing it

993
00:49:08,159 --> 00:49:09,079
in their mom's basement.

994
00:49:09,599 --> 00:49:11,320
Speaker 3: Good luck trying to stop that. Okay, you know what

995
00:49:11,360 --> 00:49:13,840
I mean. So I agree with you. They're gonna try.

996
00:49:14,519 --> 00:49:16,960
There's no question they're gonna try. I just think it's

997
00:49:17,000 --> 00:49:19,639
gonna be a lot, you know, like for instance. You know,

998
00:49:19,719 --> 00:49:21,599
if you look at a phone company, look at how

999
00:49:21,639 --> 00:49:24,199
many more moving parts and the infrastructure and the maintenance

1000
00:49:24,239 --> 00:49:27,079
and the employees. Right, there were real benefits to consolidation,

1001
00:49:27,159 --> 00:49:30,559
which is why they did it. You look at AI,

1002
00:49:30,760 --> 00:49:32,880
it's just completely Like I said, three kids can come

1003
00:49:32,960 --> 00:49:35,480
up with a better model built off an open source

1004
00:49:35,519 --> 00:49:38,000
base model on the internet in their mom's basement. I

1005
00:49:38,639 --> 00:49:40,440
just think it's gonna be. They're gonna try. I just

1006
00:49:40,480 --> 00:49:43,679
think that there's we have truly opened Pandora's box. I

1007
00:49:43,679 --> 00:49:44,840
don't think anybody's gonna be able.

1008
00:49:44,760 --> 00:49:45,920
Speaker 1: To look for it. Well, then I look forward to

1009
00:49:45,920 --> 00:49:50,239
watching it happen and having you taken care of my

1010
00:49:50,280 --> 00:49:52,119
money to make sure that they take advantage of having

1011
00:49:52,159 --> 00:49:55,679
Thank you, Zach, Zach Cabrahm, Chief Investments or Bot Capital Management,

1012
00:49:55,760 --> 00:49:58,280
Know Your Risk podcast dot com. This is the Todd

1013
00:49:58,280 --> 00:50:01,360
Herman Show. Please go, be well, strong, be kind, and

1014
00:50:01,480 --> 00:50:05,159
make a decision to not just concentrate on building up

1015
00:50:05,199 --> 00:50:07,960
treasures on earth where thieves and rus can get at them,

1016
00:50:08,280 --> 00:50:10,639
but treasures in heaven protected by your heavenly father.