Speaker 1: So our friend Zach Abraham, Chief Investments are Borck Capital Management,
Speaker 1: my friend and brother. He joined us. Every week he's
Speaker 1: gotten to meet and talk with a key Trump nominee,
Speaker 1: Stephen Moran. We're gonna get his tests and what he
Speaker 1: thinks about this guy plus Trump and Putin meeting in Russia.
Speaker 1: Zach does deals for a living, and I'd love to
Speaker 1: talk about that. There's much you get to including inflation
Speaker 1: and AI, plus a happening anti populace happening in France.
Speaker 1: We'll talk about this all was Zach Abraham. Chief Investments
Speaker 1: are Borock Capital Management. Thank you to God Almighty.
Speaker 2: The Todd Herman Show is one disapproved by big pharma
Speaker 2: technocorrats in tyrone s everywhere from the high mountains of
Speaker 2: Free America. Here's the Emerald City exile Todd Herman.
Speaker 1: Today is the day the Lord has made, and these
Speaker 1: are the times to which God has decided we shall live.
Speaker 1: Joining me, my friend and brother, Zach Abraham, Chief investment
Speaker 1: Officer Bower Capital Management and football coach of the youth Man.
Speaker 1: Welcome back.
Speaker 3: Thank you me. We've been grinding, grinding on that. It's
Speaker 3: funny you brought up the football we've been we've been
Speaker 3: putting in work.
Speaker 2: Man.
Speaker 3: We're we're installing a new offense this year. And installing
Speaker 3: a new offense with a group of fifth graders is
Speaker 3: a uh, it's it's a it's it's a bortage.
Speaker 1: It's interesting. How are you dealing with the endorsement money
Speaker 1: with those kids? Is that changed who they are?
Speaker 2: Right?
Speaker 1: Because I saw that kid riding up to your practice
Speaker 1: in that new uh, that new electric bicycle with his
Speaker 1: name on it.
Speaker 4: And yeah, yeah, Now, I mean for you, for the
Speaker 4: mid tier kids, you'd count on maybe like a happy
Speaker 4: or Ashwin.
Speaker 3: But if you're a blue chipper, we might get you
Speaker 3: an electric razor or an electric bike. Everybody, you know,
Speaker 3: it's I mean, everybody's getting cheeseburgers, right, cheeseburger in Sundays.
Speaker 3: That's just that's what you got to pay to play.
Speaker 3: But yeah, there, it's getting spendy, getting spendy.
Speaker 1: The world's changing so so much.
Speaker 3: Oh my gosh, man, So Trump.
Speaker 1: President Trump flew a bunch of his senior people up
Speaker 1: to Alaska to go to a military base, all of them,
Speaker 1: you know, to be in this meeting with Putin. And
Speaker 1: I'm just I'm trying to remember back to a time
Speaker 1: where figurehead Biden tried that. I don't recall that ever happening,
Speaker 1: and when it did, it was press press or Biden
Speaker 1: being distracted by a scroll during a photo session. You,
Speaker 1: I mean, I don't know that you walk around making deals,
Speaker 1: but you do investments, you sit on boards, you certainly
Speaker 1: advise on deals. What do you do in a big,
Speaker 1: super high stakes meeting like this, How do you personally
Speaker 1: prepare for something like that?
Speaker 4: Well, I you know, I don't think it's all that
Speaker 4: I don't think it's all that different, honestly in how
Speaker 4: you going back to I don't think it's honestly that different.
Speaker 4: How you prepare for a football game, any football season,
Speaker 4: meaning that.
Speaker 3: Like a big part of it is assessing who your
Speaker 3: counterparty is.
Speaker 4: Right, So, like you're looking at a guy like Putin,
Speaker 4: say whatever you want, he's not there because he's done
Speaker 4: right right, the guy's been able to hold I mean,
Speaker 4: think about what he's been able to do, consolidate power
Speaker 4: in an absolute mess, chaotic countries going here there, All
Speaker 4: that dude's able to consolidate power, get the country back
Speaker 4: on its feet, and.
Speaker 3: Hold that power for the better part of twenty seven years.
Speaker 2: Yep.
Speaker 3: So like be they you can be critical, but you
Speaker 3: better be realistic and you better have an honest assessment.
Speaker 3: And then I think it's about going in and I.
Speaker 4: Honestly believe that the smaller list of objectives and accomplishments
Speaker 4: you're trying to get to the better. Right, you want
Speaker 4: to come in with preconceived things that you are prepared
Speaker 4: to offer up.
Speaker 3: That they might think that you're not willing to. Yeah,
Speaker 3: I just it's you. You You just had You have
Speaker 3: to have it mapped out, and you have to have
Speaker 3: a battle plan because if you don't, you will get right,
Speaker 3: You'll get you'll get swung around.
Speaker 4: Now, I don't think Trump approaches it that way because
Speaker 4: I don't think he knows how to do it any
Speaker 4: other way, Like meaning, I think he approaches it that way.
Speaker 3: But I don't think he's thinking about it.
Speaker 1: Yeah you know what I mean? Well, look, when you've
Speaker 1: been doing deals like he has, it's it's almost like, hey,
Speaker 1: what do you do to prepare to get out of bed?
Speaker 2: Right?
Speaker 3: Right?
Speaker 1: You kind of have these instinctual things we used to
Speaker 1: go in and have, you know, our set of things
Speaker 1: we're going to present and these are the things we want.
Speaker 1: And if we knew someone was someone who needed to
Speaker 1: grind you down, because they're those personalities, they need to
Speaker 1: grind you down and they need to feel like they
Speaker 1: have sweated you, we would put in a couple of
Speaker 1: items there. And our agreement as a team was, we
Speaker 1: know he's gonna want to grind on these, let him
Speaker 1: grind and let's even have like good cop bad cop
Speaker 1: among us. You know, look, Todd, I mean, I don't
Speaker 1: think the lad's being wait wait no, we're not going
Speaker 1: to negotiate him wrong ourselves. Give us a break and
Speaker 1: we go out to side and you know, and talking.
Speaker 1: Part of this is Mack show. It's drama. And then
Speaker 1: if you have people who want to be the peacekeepers,
Speaker 1: you know, and you'll have those you negotiate with people
Speaker 1: that they want to be those peacekeepers. You try to
Speaker 1: create possibilities for that. I can't put a bead on putin.
Speaker 1: I know he's a meg Oh I don't know, but
Speaker 1: I think he's a meg lamaniac. He's become a multi
Speaker 1: billionaire in public service, et cetera. So in some ways
Speaker 1: I guess he and Trump are very similar, except for
Speaker 1: this that Vlad has killed people like full on right, KGB,
Speaker 1: dude has actually choked the life out of people.
Speaker 3: Being pretty hard to think of a scenary in which
Speaker 3: that isn't the case.
Speaker 1: Yes, right, right, right?
Speaker 3: Uh he was, he was, he was playing in some dark,
Speaker 3: dirty alleys. Uh.
Speaker 4: You know, I I think I'll be honest with you,
Speaker 4: I'm not entirely sure what Trump seeks to get accomplished here.
Speaker 4: I don't There really isn't any kind of deal that
Speaker 4: we can cut with Russia that I think is extraordinarily
Speaker 4: beneficial to us. I mean, they do possess the same
Speaker 4: type of crude we need, but we get that from Canada.
Speaker 3: Rare work metals. I mean they got tons of they
Speaker 3: got tons of I mean.
Speaker 4: Look, it's better for us to have a to have
Speaker 4: a complimentary and a friendly relationship with Russia. I'm just
Speaker 4: not exactly sure what it is that he's trying to accomplish.
Speaker 3: Yeah, And and by saying that, I'm not saying I
Speaker 3: disagree with it.
Speaker 4: I'm saying, genuinely, I wish that I knew what it
Speaker 4: was that they wanted out of this, because I from
Speaker 4: the outside looking in, what it looks to me is
Speaker 4: that internally, I think that their goal is to get
Speaker 4: the dollar down further, to keep a cap on energy
Speaker 4: prices at the same time, and I think that it's
Speaker 4: so cap on oil or excuse me, cap keep the
Speaker 4: dollar down, keep a cap on oil.
Speaker 3: At the same time, I.
Speaker 4: Think they want to see the I think they want
Speaker 4: to continue to see the dollar get lower and try
Speaker 4: to hold some type of control level on.
Speaker 3: CPI right, because that's I guarantee.
Speaker 4: You they're prepared to tolerate a slightly higher level of
Speaker 4: inflation than they're saying that they are right, they got
Speaker 4: to play the anti inflation game. But but when you
Speaker 4: look at the things that they're trying to do, it's tough.
Speaker 3: Man.
Speaker 4: They're trying to thread a needle and I and I
Speaker 4: and I tip my cap that they're giving it a go.
Speaker 4: But I just don't know what And I'm sure they've
Speaker 4: got I'm sure they've got bullet points.
Speaker 3: I'm just it's a little bit of a head scratcher
Speaker 3: for me. What he can get from putin that will
Speaker 3: enable that will help him in those in those aims well.
Speaker 1: Those ames same. I think I'm guessing his aim is
Speaker 1: to get to a point where he can put Putin
Speaker 1: and Zelenski in a room together so that that he
Speaker 1: can say that and then they can blow the deal up,
Speaker 1: so that it's not Trump that he sets them down.
Speaker 1: Look what I got them. I got them to come
Speaker 1: to the table. I got them discussion. But that's it,
Speaker 1: and that's a huge pr win. But I also generally
Speaker 1: think he wants peace. I actually think that Trump hates war.
Speaker 4: Oh yeah, I mean I I look, if you if
Speaker 4: you want to go back through history before Trump was
Speaker 4: even involved in politics, I mean, I think anti war
Speaker 4: is the most consistent part of everything he ever said.
Speaker 4: Yeah right, I mean you know that and some of
Speaker 4: his points about you know, free trade and NAFTA, but
Speaker 4: I mean those are the things he's been the most
Speaker 4: consistent on. So I absolutely all take him at face value.
Speaker 4: But but you know it, like so many other things
Speaker 4: today in our culture. I was trying to explain this
Speaker 4: to my kids the other night because they were asking
Speaker 4: me questions about Russia and Ukraine.
Speaker 3: And when you really sit down and assess it with
Speaker 3: clear eyes, the problem you have is that neither side
Speaker 3: has an incentive to stop. Like that's the issue, right,
Speaker 3: Like nobody has Like everybody's like Russia needs to pull out.
Speaker 3: That's not gonna happen.
Speaker 2: Yep.
Speaker 4: Right, there's no way they're given that back, not after
Speaker 4: like the very thing that you're saying that we've lost
Speaker 4: too many people. Yeah, exactly why they're not going to leave, right,
Speaker 4: there's no way they've paid that price, they're going to
Speaker 4: give that back. Yeah, Ukraine's got no incentive to fold. Like,
Speaker 4: that's the problem with this whole thing. It's a horrible situation.
Speaker 1: And I don't and we went pot committed and Zelensky's
Speaker 1: popupin and now you have europe saying and a European
Speaker 1: boss lady just said this, if we can't defeat Russia,
Speaker 1: then how do we defeat China? Yeah, you know what,
Speaker 1: You've answered your own question, because you can't defeat Russia
Speaker 1: by buying gas from the natural gas which Trump had said.
Speaker 1: Now that sort of ended, and we've got the deal
Speaker 1: now where they're going to buy energy from us. But
Speaker 1: are you just awakening to this fact lady?
Speaker 3: Yeah. The other thing is I just don't look. I
Speaker 3: could be wrong.
Speaker 4: I am not a geopolitical expert and certainly not a
Speaker 4: Russian expert, but I do not at all agree with
Speaker 4: or understand.
Speaker 3: And the narrative that suggests that Putin wants to take
Speaker 3: over Europe. The guy has got an imploding population on
Speaker 3: his hands, he's having a tough time keeping control of Europe.
Speaker 3: And then he got bogged down in Ukraine for three years, right, Like,
Speaker 3: what how does that signal he's about ready to take
Speaker 3: over Europe? That's the part to me that those are
Speaker 3: the kinds of I could be wrong. I could be wrong.
Speaker 3: I'm not omniscient. That's the kind of stuff that scares
Speaker 3: me though, because you everybody just accepts that what are
Speaker 3: we doing? We're making sure he doesn't invade Europe and
Speaker 3: you're looking around going how would that work? What are
Speaker 3: we what are we talking about? Yeah, and and and
Speaker 3: and and.
Speaker 4: I know, like you, Todd. The thing that scares me
Speaker 4: about that is, Okay, here's this great narrative out here.
Speaker 4: Who's pushing this?
Speaker 3: And why?
Speaker 1: Oh, it's it's the defense industry, the other ones and
Speaker 1: pushing this. It's the former intelligence officials who are now
Speaker 1: on boards for defense industry companies. And you know, look,
Speaker 1: I've been in this business for forty five years. Putin's
Speaker 1: position well, and you know he's good. And that's that's
Speaker 1: the thing they're pitching you. You talk to someone speaking
Speaker 1: of Trump, He's nominated to be on the Federal Reserve,
Speaker 1: and so it's just he's the power replacement Steve Moran
Speaker 1: that he wants. I want to talk to you about
Speaker 1: him because this could this, this is something that could
Speaker 1: affect us deeply. So we'll talk with Zach about this
Speaker 1: in just a second. You know, we're talking about Putin
Speaker 1: and his sort of country and our sort of country.
Speaker 1: One of the things that we bear in common is
Speaker 1: we're surveillance states. So is Europe. We're censorship states. Sorry,
Speaker 1: it's not as bad here, and President Trump is far
Speaker 1: from as bad as figure at Biden, but that stands.
Speaker 1: That's the case. There are people in both countries who
Speaker 1: hate truth. Now, I have friends at Angel Studio have
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Speaker 1: It's Angel dot Com slash Todd. So Stephn Moran, You've
Speaker 1: talked to this guy a couple of times, Zach, and
Speaker 1: he's been nominated for the Federal Reserve. So I'm reading
Speaker 1: and I went through a look at the Mockingbird media.
Speaker 1: Trump's Federal Reserve nominee may receive a cold shoulder. Why
Speaker 1: Trump's nominee is posing as an outsider. Trump's nominee a
Speaker 1: continuation of Mega anti expert stance. Those are some of
Speaker 1: the headlines Mega's anti expert stance. That's some of the happening.
Speaker 3: Okay, so here's where I love this.
Speaker 4: First of all, I'm going to say several things that
Speaker 4: sound self ingratiating, and arrogant.
Speaker 3: I can promise you I don't. I don't mean it
Speaker 3: that way. What I mean is that.
Speaker 4: So the point that I'll be trying to make when
Speaker 4: I say that is this is one of the things
Speaker 4: I love about Trump, and not because he agrees with
Speaker 4: me and I am brilliant and never wrong, but because
Speaker 4: he's looking for the same things and I think that
Speaker 4: they really matter. Meaning the reason I had Steve Miran
Speaker 4: on the show twice, and he's a great guy by
Speaker 4: the way, and very very smart, is because he is
Speaker 4: precisely the kind of person that we need in in
Speaker 4: my opinion, on the Federal Reserve Board and on the FOMC.
Speaker 4: And the reason I say that is, okay, lack of
Speaker 4: an expert. This guy is a PhD in economics from Harvard. Okay,
Speaker 4: I thought that's the I thought, that's the white I
Speaker 4: reached power of expert for.
Speaker 3: These people, right, Okay. On top of that, the guy
Speaker 3: has ran a portfolio, run a hedge fund, and been
Speaker 3: a practitioner that has actually operated in markets. That makes
Speaker 3: him a white seg right, like those guys don't exist.
Speaker 4: So and what it does is it gives him exactly Look,
Speaker 4: I don't I'm not anti economics, but without real life
Speaker 4: experience and knowledge of how markets work, and how things
Speaker 4: actually right. There's economics is all based on the idea
Speaker 4: that capital is going exactly where it should all the time.
Speaker 3: Capital ends up where it should eventually, but it can
Speaker 3: take some really big detours and economists don't have any
Speaker 3: answers for that. Guys like Miran understand that. And so
Speaker 3: this is one of like this should give everybody heart
Speaker 3: because all of those all of those articles have something
Speaker 3: in common. I can guarantee you.
Speaker 4: That whoever wrote those articles hasn't spoken into that guy
Speaker 4: for one tenth as long as I have. And yet
Speaker 4: here they are slamming this guy. Look at lack of
Speaker 4: an expert. What are you if a guy that has
Speaker 4: a PhD in economics from Harvard isn't qualified to be
Speaker 4: on the f who is right?
Speaker 3: Like like, why are you gotta be kidding me?
Speaker 4: And so I A, I love this about Trump because
Speaker 4: he's not looking to just the expert elite status, which
Speaker 4: funny enough, are you there? That group of people is
Speaker 4: never the most competent, they're never the most knowledgeable.
Speaker 3: It's a country club, right, like that, It's a social
Speaker 3: It's a social group. That's what it is.
Speaker 2: Right.
Speaker 4: You take a guy like Steve there's a reason Steve
Speaker 4: didn't come right out of the out of Harvard and
Speaker 4: just jump into those kinds of jobs.
Speaker 2: Right.
Speaker 4: He did some work for the government, but then he
Speaker 4: went to private route, went out on his own, started
Speaker 4: a hedge fund, did stuff like that.
Speaker 3: He's an outsider. He looks at things differently.
Speaker 1: Here's CNN in me world. That's said, okay, in megaworld.
Speaker 1: Stephen Moran, the White House economists President Trump nominated last
Speaker 1: week to the Federal Reserve's top ranks, is a force
Speaker 1: to be reckoned with. Moran has been a key voice
Speaker 1: in support of Trump's sweeping economic agenda, with the President
Speaker 1: praising him as distinguished and unmatched. But what it takes
Speaker 1: get nominated to the FED is different what it takes
Speaker 1: to succeed at the Central Bank. Moran was nominated in
Speaker 1: place of Adrian Coogler, who resigned from the FED with
Speaker 1: six months left in her term. That means Marann would
Speaker 1: serve on the Fed's Board of Governors until January thirty one.
Speaker 1: Should he be confirmed by the Senate, his unconventional views
Speaker 1: on the economy will be unfold display during his confirmation
Speaker 1: hearing before the Senate Banking Committee. The same views that
Speaker 1: put him out of step with the rest of the board.
Speaker 1: Unlike most mainstream economists, including those at the FED, Moran
Speaker 1: believes that Trump's widespread traffs and US trading partners won't
Speaker 1: stoke conflation, the view that suggests the FED should have
Speaker 1: already cut interest rates this year, as Trump was loudly
Speaker 1: demanded for months. He's doubled down on the position recently.
Speaker 1: Moran also co out of the little paper last year
Speaker 1: that argued that the Fed's independence, so he's struck a
Speaker 1: different tone in recent years argued against the Fed's independence,
Speaker 1: though he struck a different tone in recent years, it's
Speaker 1: unclear if he'll be unequivocal about honoring the Fed's independence
Speaker 1: as chaired Jerome Powell and other FED members typically are.
Speaker 1: This is CNN raising alarm bells that this guy might
Speaker 1: think that maybe the Federal Reserve should, oh, I don't know,
Speaker 1: be audited or be responsible to someone of themselves. That's insane.
Speaker 1: That's crazy talk megal world baby.
Speaker 3: Yeah, pure insanity. And also you sit there and go, hey,
Speaker 3: cool job writing a story about somebody where you draw
Speaker 3: all these conclusions that you've never even spoken to him. Yeah,
Speaker 3: he wait, here's the other thing to drive me nuts.
Speaker 4: And I don't want to sound too elitist or anything
Speaker 4: when I say this, but it gets so exhausting listening
Speaker 4: to people try to sound smart and try to sound
Speaker 4: like they understand what they're talking about when it's so
Speaker 4: clear that they've got no idea.
Speaker 3: One of the biggest issues you've got in this economic
Speaker 3: talk is these are pardoning Turner. But these idiots out
Speaker 3: there GDP up good, GDP down bad. Now, they'll sit
Speaker 3: there and talk at their cocktail circuits about the plight
Speaker 3: of the middle class and the financialization of the economy.
Speaker 3: And but anything you do that makes GDP go down
Speaker 3: for so much as a quarter is a disaster.
Speaker 2: Right.
Speaker 3: Well, in real life, we understand sometimes we've got to
Speaker 3: take a step back to take three steps forward.
Speaker 1: Yep.
Speaker 3: Right.
Speaker 4: And Trump isn't even doing what they're talking about. Trump
Speaker 4: is even said this might be uncomfortable, this might be
Speaker 4: you know, not ideal. There's going to be some pain, right,
Speaker 4: But we're talking about two different things. Nobody ever said
Speaker 4: that this might cause a short term recession, which when
Speaker 4: you've got record household debt or record household wealth, record
Speaker 4: household equity, at homes and four point two percent unemployment.
Speaker 3: Hey, every lost job is a bad thing.
Speaker 4: But if that's what it takes to get you know,
Speaker 4: you know what manufacturing back in America and livable wages
Speaker 4: and all that.
Speaker 3: Right, if that's what it takes, then then okay, sounds.
Speaker 4: Like a great idea, right, But it's you're gonna sit
Speaker 4: here and tell me all the horrible plights of capitalism
Speaker 4: and how it screwed everybody. And yet when we go
Speaker 4: back to policy, it's, well, you can't do anything that
Speaker 4: is GDP.
Speaker 3: Go now you're going Wait a second, I thought this
Speaker 3: was all about how evil capitalists only care about number
Speaker 3: go up. And yet any time I suggest to Paul,
Speaker 3: like I said, I have to remind myself all day
Speaker 3: that I'm not living in a black mirror episode because
Speaker 3: I'm sitting there going you, now, you are vehemently fighting
Speaker 3: somebody that wants to institute quote unquote protectionist measures that
Speaker 3: would be beneficial to wages for the middle class. Like
Speaker 3: if you hang out long enough, you'll see everything, right,
Speaker 3: I mean, that's like a and I've said this a
Speaker 3: million times before, but there's certain parts of what Trump
Speaker 3: is saying that are just pages right out of Noam Chomsky.
Speaker 3: I mean, and by me saying that, I'm not saying
Speaker 3: it's bad.
Speaker 4: Just because I don't agree with Noam Chompsky on most
Speaker 4: things doesn't mean that he didn't have some good points.
Speaker 1: Noam Chomsky was right on COVID, He's right about pharma.
Speaker 1: Noam Shansky is right about some things. And the broken
Speaker 1: clock theory applies to this. So this is going to
Speaker 1: continue the votes. You know, if he gets his temporary placement,
Speaker 1: then then it's going to be really really interesting to
Speaker 1: see what he does on the inside, because I'd love
Speaker 1: to see him challenge Powell, you know, not for the
Speaker 1: leadership perhaps, I mean, I love that, but I'd love
Speaker 1: to see because I think the era of Jerry Powell's
Speaker 1: God had just come to an end. He is just
Speaker 1: a complete repeat of what we've seen before that there's
Speaker 1: nothing that can change, nothing can be challenging. And here's
Speaker 1: my test for the SAC if no one, if they
Speaker 1: don't want to be audited, This would be my litmus
Speaker 1: test for anybody in the FED. Will you be audited?
Speaker 1: We supported an dependent out of the FED. And if
Speaker 1: the answer is no, then you're the same same type
Speaker 1: as this as Miranda. He say he'd supported an audit.
Speaker 1: Did you ask him?
Speaker 3: I don't know.
Speaker 4: If we can, I'd have to go back through the
Speaker 4: interviews and look at it again. It's it's something we've
Speaker 4: probably talked about.
Speaker 3: Here's the thing. What he's again. I've spent two and
Speaker 3: a half hours talking to the guy one on one,
Speaker 3: so you know, I would be shocked if he did
Speaker 3: not support an auditing of event. I'd be absolutely shocked.
Speaker 1: Okay, well, there's a night, there's a leit he does.
Speaker 1: There's links to Zach's interviews with Steve Moran in our podcast.
Speaker 1: So in the in the show notes, we have links
Speaker 1: up to the interviews Zach's done. You can also go
Speaker 1: to Know Your Risk podcast dot com. That's where Zach does.
Speaker 1: This podcast is Know Your Risk Podcast dot com. I
Speaker 1: want to give you something that's going on in France
Speaker 1: in a second, because we're talking about a bit of populace,
Speaker 1: but we know in megaland and there's been happening in
Speaker 1: French politics. I'll bring you up to date you here
Speaker 1: in a second, just like Zach and are doing now
Speaker 1: talking on video, we're gonna do something live and we're
Speaker 1: gonna invite you. This is with renew We've played around
Speaker 1: with this and now we've gotten serious in terms of
Speaker 1: a a webinar to talk about stem cells and how
Speaker 1: they affect you. This is going to be Thursday, September eleventh,
Speaker 1: eleven pm Pacific, our am Pacific, eleven am Pacific. I'll
Speaker 1: be there doctor Navarro. Remember doctor Navarro from Mexico, Doctor Varra.
Speaker 1: Did you get to meet him, Zach when you're in Mexico,
Speaker 1: Doctor Navarro. So he's a spinal specialist. He's going to
Speaker 1: be there on regenitive therapy. You can submit questions in advance.
Speaker 1: You go to join stem cell talks dot com. Talk
Speaker 1: about your medical condition, talk about your parents, or your
Speaker 1: wife or husband's medical condition. Go register there. You could
Speaker 1: also call six oh two four two eight four thousand.
Speaker 1: We're going to talk about how the stem cells are derived,
Speaker 1: the efficacy of this versus surgery.
Speaker 3: Plus.
Speaker 1: Everybody who attends and stays in the webinar, you will
Speaker 1: be entered to win a stay at the Nuava Verota
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Speaker 1: there three times. It's a beautiful hotel, great meals, great service,
Speaker 1: rooftop deck extraordinaire. So go to join stem cell talks
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Speaker 1: statements like this is from Lee. Lee wrote before discovering
Speaker 1: renew Healthcare, I was living with daily pain on my
Speaker 1: right shoulder due to partial rotator cuff tare simple activities
Speaker 1: like lifting groceries, reaching overhead, or swinging a golf club
Speaker 1: became difficult and frustrating. My orthopedic surgeon recommended surgery, but
Speaker 1: I wanted to explore a less invasive option with a
Speaker 1: shorter recovery time. After receiving the stem cell treatments, I
Speaker 1: noticed significant improvement within just a few weeks. The inflamation reduced,
Speaker 1: my range of motion improved, and most importantly, the pain
Speaker 1: subsided dramatically. Now, three months post treatment, I'm back to
Speaker 1: doing the things I love pain free without surgery. Choosing
Speaker 1: regenitive therapy was one of the best healthcare decisions I've
Speaker 1: ever made. I'm incredibly grateful for the care team who
Speaker 1: had guided me through the process and gave me back
Speaker 1: my quality of life. Hit us up at joined stem
Speaker 1: cell talks dot com and I will see you there
Speaker 1: and you can enter a win that week in the
Speaker 1: hotel so Zach and yeah.
Speaker 4: Hey, so little plug and I promise, man, I had
Speaker 4: to pay. I mean I didn't get sponsored by these guys.
Speaker 3: Yep, so went out two days ago. You and I
Speaker 3: were down there three months ago. Yeah, that weird. Where
Speaker 3: was it three months ago?
Speaker 2: Yep?
Speaker 3: Okay, And I'm a seven handicap golf.
Speaker 4: I went out yesterday and probably only my second round.
Speaker 4: A couple of anyway, haven't been playing as much golf
Speaker 4: because you've got to take time off after we did that.
Speaker 3: Yeah, I had the best ball striking round of my
Speaker 3: entire life.
Speaker 1: Awesome.
Speaker 4: I am hitting it further at forty three than I
Speaker 4: was at thirty five, and it has transformed. I am
Speaker 4: swinging it better than I've ever swung it in my life.
Speaker 4: And the only thing that has changed has been that.
Speaker 4: And my back feels better and better by the day.
Speaker 3: I could. Yeah, I even blew myself. Well.
Speaker 4: I was sitting there going I didn't think I could
Speaker 4: hit it there. I mean, it's been, it's been.
Speaker 1: It's been awesome though, now praise God. And that's that's
Speaker 1: why so many pro golfers are there. The guy who won, Oh,
Speaker 1: I can't remember the name of the tour, but it's
Speaker 1: what are the master's tours on some islands, are you? Well? No,
Speaker 1: folk's been down there. I've met Fred, He's really really cool. No,
Speaker 1: this is another golfer. And Steve Anderson, who runs renew
Speaker 1: He was down on this island and it was this
Speaker 1: big tournament and anyway he won. He's a renewed golfer.
Speaker 1: I'll give you one. I did a rowing and deadlife
Speaker 1: workout with my beloved wife the other day, and yeah,
Speaker 1: and I kept going up and wait, going up and wait,
Speaker 1: going up and wait, and I kept waiting for it
Speaker 1: to hurt. And I was doing doubles and triples at
Speaker 1: weight that used to make my back crack, and I
Speaker 1: feel like it was shifting, like my sijot was shifting
Speaker 1: and my hips were shifting back and forth. I kept
Speaker 1: waiting for that to happen. And I got up to
Speaker 1: a weight that I haven't repped at in a long time.
Speaker 1: I haven't repped three point fifteen in a very very
Speaker 1: long time. And so I did a triple at that.
Speaker 1: I'm like, what's this start to hurt? And it never
Speaker 1: did so and I'm I'm I am six months out.
Speaker 1: I'm at the tissue rebuilding stage and when I got
Speaker 1: my stuff because I went down before you. So this
Speaker 1: is from France. You know what they did to Marie
Speaker 1: le Penn in France. So Marie la Penn and France
Speaker 1: got banned for being in office. So there's this crazy
Speaker 1: thing that they're doing in Europe. And thank god this
Speaker 1: hasn't come here where they use law fair against politicians,
Speaker 1: you know, and they take him to courts and we'll
Speaker 1: never see that here. It's just not done. Her party
Speaker 1: is now an all time polling record this month. They
Speaker 1: now lead Emmanuel Marcron's party by eighteen percent. This is
Speaker 1: after they banned the woman who runs the party from
Speaker 1: winning elections, and all the predictions are they're just going
Speaker 1: to ban this political party. And I'm asking you from
Speaker 1: a perspective of someone who runs funds and as a
Speaker 1: dad and a Christian man, et cetera. I wanted to
Speaker 1: start at the finance level. Has there ever been a
Speaker 1: populous revolution that aided the finance of a country. I mean, immediately,
Speaker 1: ours was a populace uprising and it created the most
Speaker 1: vibrant and free economic system in the world. But I've
Speaker 1: seen a lot of populous uprisings that sort of destroy economies.
Speaker 4: Oh yeah, I mean it's one of the it's one
Speaker 4: of the you know, it's one of the reasons we
Speaker 4: called the American Experiment. One of the reasons was because
Speaker 4: usually revolutions like that and in total disaster, right the
Speaker 4: French Revolution, and they typically culminate in a strong man
Speaker 4: taking over power.
Speaker 3: And again, it was in my opinion.
Speaker 1: Pause, I'm sorry, post production. Can you take the part
Speaker 1: out about man?
Speaker 3: Oh yes, strong person, thank you.
Speaker 1: Let's try that again.
Speaker 3: So three two one, Yeah, Usually that's how a strong
Speaker 3: person comes to power.
Speaker 4: And then and then when you and when you look
Speaker 4: at the unique aspect of America's revolution was that again?
Speaker 4: And I and I attributed to the divine hand of God,
Speaker 4: but we literally had that.
Speaker 3: We had the opposite of that.
Speaker 4: We had a man that didn't want to be king,
Speaker 4: and it pushed it back, you know, and you can
Speaker 4: just see God's fingerprints all over it.
Speaker 3: Do you know?
Speaker 1: The number one criticism of George Washington's not gilla dress
Speaker 1: was first, not good dress.
Speaker 3: He didn't use the right pronouns.
Speaker 1: I don't know, Well, there was that, yeah, because he
Speaker 1: was a Yeah, but they couldn't hear them. Oh he
Speaker 1: spoke so quietly. So yeah, so he stood and I've
Speaker 1: been in the room where he gave the speech, and
Speaker 1: it's a it's a pretty small room, and he was
Speaker 1: at the lectern. And one of the big complaints was
Speaker 1: he came out with the statements. It was like one page,
Speaker 1: one page, you're the president of a new nation, like
Speaker 1: you defeated the world's biggest military, the most powerful military,
Speaker 1: and this godly man gets up and reads one basically
Speaker 1: one page, so quietly that the people in back couldn't
Speaker 1: hear it, even though this is a place designed for sound.
Speaker 2: Yeah.
Speaker 1: Right, I totally agree with you. That was the province
Speaker 1: of God that we got that, and then we got populism,
Speaker 1: but in constraints. That's why I call myself a constitutional populace,
Speaker 1: a Christian constitutional populace, because the Constitution is a restraint.
Speaker 1: But France and Europe, those people are so pent up.
Speaker 1: Like we were just talking Alex and I about Europe,
Speaker 1: about the UK. Did you see this thing where they
Speaker 1: sent undercover cops kind of I guess good looking Ish
Speaker 1: women to go jog are. No, I'm not saying I'm
Speaker 1: trying to be accurate jogging around to get cat called
Speaker 1: so they could arrest the people cat calling. This isn't
Speaker 1: a country with a rape grooming scandal where they still
Speaker 1: haven't arrested all the Muslim rape rape grimming gangs that
Speaker 1: raped tens of thousands of girls. This is gonna there's
Speaker 1: going to be a point where the Europeans rise up.
Speaker 1: And I'm wondering if that form of populism has ever produced,
Speaker 1: like anger driven populism. We're going to tear things down.
Speaker 1: We're already spraying animal feces over the government buildings in Netherlands.
Speaker 1: Has that ever resulted in hey, good economy? Or is
Speaker 1: it always a teardown.
Speaker 4: Always a tear down, always a teardown. It's just never,
Speaker 4: it never rolls that way. Like I said, it usually
Speaker 4: leads to.
Speaker 3: Now. The one bit I will say to this.
Speaker 4: Is that usually in the past, social revolutions came from
Speaker 4: really unfair practices, right, like effectively authoritarian practices, right you know,
Speaker 4: you think about you know, think think about the surf
Speaker 4: and kingdom set up and how badly they could abuse
Speaker 4: those people. The interesting thing about this is the oppression
Speaker 4: this time comes from.
Speaker 3: The kind of liberal elite of society right, and so
Speaker 3: the pushback should actually be to the legitimately like less government,
Speaker 3: you know, freedom side right, the thing that you've got
Speaker 3: to watch out for historically, and again this is just
Speaker 3: history telling us the story is it just usually goes
Speaker 3: too far right.
Speaker 4: So it's like, Okay, you're pointed in the right direction,
Speaker 4: you're mad at the right people, but now what the
Speaker 4: way you've answered back right is just as bad, if
Speaker 4: not worse, And now we're in an even uglier situation.
Speaker 4: And the French Revolution would be like just the perfect
Speaker 4: example of that, right.
Speaker 3: Where you're like, hey, you're right for all the right reasons, guys.
Speaker 3: The response is just you're compounding the problem.
Speaker 1: Yeah, there's that whole thing. You become this monster, right
Speaker 1: because you killed the monster, but she actually became the monster.
Speaker 1: And what they've done, the elites have done is I
Speaker 1: refer to it as building a monster they think they
Speaker 1: can control. Now it's firmly out of control. You have
Speaker 1: the presidents. And this is so fascinating to me, this dynamic.
Speaker 1: There are people on the left going, this is an American.
Speaker 1: He has federalized the DC police and he's arresting people.
Speaker 1: This is an American and a dude on a surfboard
Speaker 1: during COVID. Okay, we could go there. You arrested a
Speaker 1: guy for surfing on his own in Los Angeles during COVIDS,
Speaker 1: And that's not an American b What about cities that
Speaker 1: have purposely, purposely lied about crime rates, purposely allowed cartels
Speaker 1: to set up shop, have announced we're not going to
Speaker 1: prosecute your soldiers if they're caught in a DUI. That's
Speaker 1: not un American, that's not extreme. And and and look,
Speaker 1: if I'm the guy that if I got stopped in
Speaker 1: a federal ID check, you know, roadblock, I'm the guy
Speaker 1: with my hands at ten and two saying being detained,
Speaker 1: that's and and hey, if I'm being detained, just tell
Speaker 1: me the probable causes. Okay, yeah, be glad to pull
Speaker 1: my car over. Yes, officer, here you are. Here's my
Speaker 1: licensan ritradition. But if I get the I'm not being detained,
Speaker 1: I'm I'm gone. So I guess that's civil liberties. But
Speaker 1: we're at a point where people have been pushed, Zach
Speaker 1: into protesting to keep the crime going. That's that's how
Speaker 1: people have been.
Speaker 3: Pushed, I know. And and to say we've lost the
Speaker 3: narrative is like saying water's.
Speaker 1: Wet right right right.
Speaker 4: And and and that's then just yeah, it has such
Speaker 4: it in discussions like in discussions like this, you really
Speaker 4: want to keep it like fact based and feed on
Speaker 4: the ground.
Speaker 3: But I just again, I think if you're not looking
Speaker 3: at this situation through a spiritual lens, you're not seeing
Speaker 3: it for what it is. Right, the confusion, the tickling
Speaker 3: of the ears that you can do whatever you want,
Speaker 3: it's still going to get right. It's you can do
Speaker 3: whatever you want and it will not affect your outcome,
Speaker 3: or it shouldn't affect your outcome. What a harrisstic message
Speaker 3: and lie to tell people Your outcome should be a
Speaker 3: composite of those choices and what you've done. That's the
Speaker 3: way this works. You don't get to do what if
Speaker 3: you want this outcome, there's most things you don't get
Speaker 3: to do, right, Like, how do you become successful?
Speaker 4: Well, want me to say it really simple. You create
Speaker 4: a long list of things that you're never gonna do.
Speaker 3: Yep, right, Like, that's a big part of it, right, And.
Speaker 4: That's what discipline is. I'm never going to sleep in
Speaker 4: past five thirty. We think of the lie, think of
Speaker 4: the disservice you're giving these people. Because here's the deal.
Speaker 4: No matter how smart and powerful you are, you can't
Speaker 4: flip the rules of physics on their ears. So what
Speaker 4: you're telling them, despite your best efforts, you can't make
Speaker 4: that a reality.
Speaker 3: So what are you doing. You're burying these people. You're
Speaker 3: burying these kids. You're not giving them a choice. They
Speaker 3: don't have a chance. They don't have a snowballs chance.
Speaker 4: And you know where right, it's it's just it is anethhma.
Speaker 4: It is crazy to me what we're protest, you know,
Speaker 4: go right back to defund the police in the most
Speaker 4: crime written place.
Speaker 3: Are you kidding me? People? Yeah? Yeah, go ask them.
Speaker 2: You know.
Speaker 1: I wish God to put together like a list of
Speaker 1: I don't know, like ten items, you know, maybe tonight.
Speaker 4: Like but yeah, like maybe like ten like good steadfast rules.
Speaker 3: If you suggest you hold, If you hold them, things
Speaker 3: will go well with you.
Speaker 1: That kind of thing, right, right, you put suggestions or
Speaker 1: I don't know.
Speaker 3: That's a novel concept. I've heard. I've heard that things
Speaker 3: like that tend to work pretty good for people and
Speaker 3: for cultures. The rumor.
Speaker 1: Yeah, but I've heard that, Well, let's let's stay science space.
Speaker 1: And I want to talk to you about one of
Speaker 1: your casts this week at No Your Risk podcast dot
Speaker 1: com and this is inflation and AI and we'll talk
Speaker 1: about this in a second with Zach Abraham, Chief and
Speaker 1: best mouster Boat carpt Management. Subscribe to this podcast at
Speaker 1: No Your Risk podcast dot com. There is tragedy and
Speaker 1: I just really I realized why we were. I was
Speaker 1: making coffee, grinding coffee last night and I was like,
Speaker 1: broad boat fog, right out of the frog. My wife's like, no, no,
Speaker 1: there's a bag left. I always ordered this the right way.
Speaker 1: It's no, there's there's We're out.
Speaker 3: Of the frog.
Speaker 1: And you ever get that thing. You're righting around the
Speaker 1: house like you're out of your cocaine. Okaye, where's my cocaine?
Speaker 2: Go?
Speaker 1: And I'm out of the frog? Honey, who moved by cocaine?
Speaker 1: I think the kid's at it. And I come to
Speaker 1: and I'm just and I was just thinking about this,
Speaker 1: and I'm sitting here and here's the bag right and
Speaker 1: I hit it against my broadcasters microphone, so you know
Speaker 1: it's real. So this now, seeing I have to take
Speaker 1: this home and I get I get to be the
Speaker 1: coffee Hero Baby. This is the extortion blend from Bonefrog
Speaker 1: Coffee dot Com. Go there and buy bag that says
Speaker 1: on the back God Country Team. All the bags say
Speaker 1: that know that the coffee was either mentored into existence
Speaker 1: by the coffee legend who started seeuw's Best Coffee. That's
Speaker 1: Dave Stewart or Dave actually make these roasts. Made the roast.
Speaker 1: My friend Tim Kokshak runs the company. He is a
Speaker 1: retired Navy Seal. Three Jared are three three deployments on
Speaker 1: our behalf at the Navy Seal. That's why this is
Speaker 1: on the side of the bag. Biggest loss of life
Speaker 1: and special Forces history. This bag honors that team. Bonefrog
Speaker 1: Coffee dot Com slash Todd use promo code Todd to
Speaker 1: get tempers out of your first purchase fifteen percent of
Speaker 1: subscription coffee. And then I get to take this home, Alex,
Speaker 1: do not let me forget to take this home. I'll
Speaker 1: be coming back this weekend. It gets us. In fact,
Speaker 1: I'll be coming back tonight to get this. Put that
Speaker 1: right there and put that on top of my computer.
Speaker 1: Now I can't forget it. So you are at your podcast,
Speaker 1: yours podcast, You're tied together accelerating inflation and AI. And
Speaker 1: we've talked about AI driving up the need for electricity,
Speaker 1: therefore more electricity facilities, more processes, et cetera. But how
Speaker 1: is it related to inflation and accelerating inflation.
Speaker 4: Well, so we attacked it in a couple of different
Speaker 4: angles in that conversation. But but what we were saying
Speaker 4: was that when you have when you have a land grab, that.
Speaker 3: Is effectively what AI is right now, right, Yes, Katie
Speaker 3: bar the door. Everybody's out there racing, You're gonna see.
Speaker 4: Obviously all these things have to be powered, and we
Speaker 4: all know that they're incredible power sucks.
Speaker 3: So that's kind of that's going to put a bit
Speaker 3: under energy of all kinds.
Speaker 4: And I think there's kind of this thought, well, well yeah, it.
Speaker 3: Doesn't drive it up energy prices yet.
Speaker 4: Well, guys, the majority of the mavning being turned on yet, right,
Speaker 4: I mean you look at the data centers and the
Speaker 4: and these compute centers that are in process. Oh, I
Speaker 4: mean you're just the tip of the spear, right, Okay.
Speaker 3: Yeah, yeah, yeah, You're just at the tip of the spear.
Speaker 3: So so then you look at inflation, it's causing in
Speaker 3: coding jobs.
Speaker 4: And now that's a little bit inflation is probably not
Speaker 4: the right term, because there aren't enough coders. Is the
Speaker 4: percentage of the population to really say that, because a
Speaker 4: I will eat them?
Speaker 3: Yeah.
Speaker 4: So so yeah, we're doing a really I'm doing a
Speaker 4: I'm doing a We just we're having tons of scheduling conflicts,
Speaker 4: but we're trying to get it done next week.
Speaker 3: But an interview with a guy that is at the
Speaker 3: head of one of the AI teams of the.
Speaker 4: Big meg seven companies awesome, and that happens to be
Speaker 4: a friend of mine, and and the stuff he's telling
Speaker 4: me what he he just said already, he goes, he goes,
Speaker 4: a year ago when we were first starting to get
Speaker 4: really good breakthroughs. We were really pumped when the AI
Speaker 4: got as good as our junior level coders.
Speaker 3: He goes, Now there is not a better code in
Speaker 3: our company. And we're talking about a multi trillion dollar company.
Speaker 4: And he goes, it's got to the point where our
Speaker 4: base model seventy percent of the code has been written
Speaker 4: by the LLM itself. So so it's it and and
Speaker 4: and the expert.
Speaker 3: So remember More's law.
Speaker 1: With compute, I would double Yeah, the processing power process
Speaker 1: doubles ever eighteen months.
Speaker 3: Yep, yeah, yep. So what they're seeing right now with
Speaker 3: AI as it's every four.
Speaker 1: Of coding power.
Speaker 3: So when you think people.
Speaker 4: Are really bad at understanding exponential growth curves, but people
Speaker 4: do not understand what that means.
Speaker 1: So every four months, the the ability of these things
Speaker 1: to write code doubles.
Speaker 3: Yes, they go.
Speaker 4: They're effectively doubling their compute ability and processing ability every
Speaker 4: four months.
Speaker 3: Wow. Yeah, I so, so what that means and what
Speaker 3: I can tell you is that in three to four years,
Speaker 3: if not sooner, you're going to see things enabled by
Speaker 3: code that people didn't think was possible and that people
Speaker 3: never imagined.
Speaker 4: Like exactly where that takes us, I don't know, right,
Speaker 4: we haven't been there before. But it as incredible as
Speaker 4: everybody knows this is, it's more incredible.
Speaker 1: I will tell you for a fact when place it's going.
Speaker 1: Because I was just listening to Bill Gates talk about this.
Speaker 1: AI is the most incredible system for creating medicines that's
Speaker 1: have ever existed. Yes, and it's very true. Well, sure,
Speaker 1: are you going to be jumping up and down to
Speaker 1: take AI drugs?
Speaker 3: No?
Speaker 1: No, And this is I'm telling everybody this is to
Speaker 1: me a fact, and I'm not responsible for this phrasing.
Speaker 1: I wish I'd found this article and kept it and
Speaker 1: printed it out and built a wall out of it.
Speaker 1: Someone wrote about the the the the digital world going
Speaker 1: to war with meat Land, that forever digital just affected digital.
Speaker 1: There's the computer screens and it's all ethereal and it's
Speaker 1: all things you look at or listen to, but it
Speaker 1: doesn't touch you. Now when you have Bill Gates saying
Speaker 1: we're going to create new drugs every hour and they're
Speaker 1: going to be customed to you. Now, it's entering Meatland
Speaker 1: and he is that, then all this stuff is code.
Speaker 1: They are saying that you're going to go to the doctor, Zach.
Speaker 1: You're going to present with these symptoms. Your doctor is
Speaker 1: going to know your blood type and your and your DNA.
Speaker 1: He's going to go back and enter that information. A
Speaker 1: computer is going to write a drug for you, and
Speaker 1: then a three D printer is going to create it,
Speaker 1: and you're going to be given pills or an injection.
Speaker 1: And here he goes, Zach, here's your injection. And do
Speaker 1: you know how that? Do you know how they test that?
Speaker 1: It can never be tested, It can never be tested
Speaker 1: because it's made just for you.
Speaker 4: Yeah no, no, but but okay, agree with you. At
Speaker 4: the same time, here's the bright side AI is looking
Speaker 4: like right now, it is going to be far more
Speaker 4: democratized than most people thought, meaning I actually think it
Speaker 4: broadens things out. Okay, so we will also have AI
Speaker 4: that's working on homeopathic remedies and human compounds and things
Speaker 4: that are actually healthy.
Speaker 3: So if we want, we'll be able to we'll be
Speaker 3: able to get that. I think it's honestly a part
Speaker 3: of AI that those the powers that be I don't
Speaker 3: think they've fully wrapped their fingers around it, which it's
Speaker 3: to me, it's kind of like cryptocurrency in a way,
Speaker 3: and it's kind of like social media. You're not going
Speaker 3: to be able to contain it, right.
Speaker 4: Because if you think away, all tech has been such
Speaker 4: a confined space for so long because you've got these
Speaker 4: big behemoths that have all the dough and all the
Speaker 4: power and all the control, and therefore they've got all
Speaker 4: the best coders in the world, and therefore we all
Speaker 4: have to go through them to get their stuff because
Speaker 4: they got the best talent.
Speaker 3: Right, Yep, that's not the case anymore. That talent is ubiquitous.
Speaker 3: So like, I actually think that AI is going to
Speaker 3: make look and they're going to pervert it in you
Speaker 3: for you know, ways to be authoritarian.
Speaker 4: But I but I also think that it provides a
Speaker 4: big lever for us to push back with and to
Speaker 4: kind of push against the authoritarian state and to.
Speaker 3: Do things. Again, I'm just watching the way this is
Speaker 3: unfolding it.
Speaker 4: It's kind of catching me a little bit by surprise,
Speaker 4: meaning this is going to be very very hard for
Speaker 4: elites and the powers that be to contain.
Speaker 1: Then that could be good news. And I've been tempted
Speaker 1: to take an AI course because I kept seeing these
Speaker 1: Facebook ads master AI and these three days, and like,
Speaker 1: there's things that I do task wise I don't want
Speaker 1: to do. I like, when I do a show a
Speaker 1: show sheet, I open a Google document. Here's the blank document.
Speaker 1: I go to my template. This is the template. I copy,
Speaker 1: I pasted, I put it in there. Now I could go,
Speaker 1: I guess, hire an admin to do that, but I
Speaker 1: prep my own shows that if I could eliminate that,
Speaker 1: if I could eliminate things like that with AI, I
Speaker 1: would love that. But then I start thinking about I
Speaker 1: could just trap myself in a room for a week,
Speaker 1: steady AI come out and all these insane ideas I've had,
Speaker 1: Now this can be coded for me. Like I can't
Speaker 1: tell you how many stupid ideas I had. This is
Speaker 1: a true story. I was with the former CTO of
Speaker 1: my internet radio company, and you know, we sold the company,
Speaker 1: and he and I got together for lunch and we
Speaker 1: were kind of thinking and reminiscing about how things went
Speaker 1: and how we could have maybe sold for more money,
Speaker 1: and we should have taken this offer at that offer.
Speaker 1: And I said, you know what, Chris, I a stually.
Speaker 1: Christopher se you know, Christopher, I should just do the
Speaker 1: stupid ideas I have. I mean, I spent all this
Speaker 1: time in this inner radied company we did, Okay, I said,
Speaker 1: you know what I should create like a I'm just
Speaker 1: sitting there thinking, I go a fart app. And Christopher says,
Speaker 1: are you kidding? I go no, I'm in a just
Speaker 1: like something stupid. The stupidest thing I could think of
Speaker 1: as a fart app that your phone farts at you.
Speaker 1: And he goes, Todd, hold on, and he pulled up
Speaker 1: the app store and at that time it was like
Speaker 1: the number three app and it was charging money. It's
Speaker 1: like a three dollar download. I go, how much code
Speaker 1: is involved this? He goes, I could create this in
Speaker 1: fifteen minutes and they've made somewhere around six and a
Speaker 1: half million bucks twenty one years ago, six and a
Speaker 1: half billion dollars for a fart app. So you can
Speaker 1: have these stupid ideas and then sit down and turn
Speaker 1: into an AI and build me my fart app or
Speaker 1: or you know, haul of back app.
Speaker 3: Yeah, well hey there's one. There's an angle that is
Speaker 3: really it's kind of shocking me that no one's talking
Speaker 3: about that. No one's pointing to, you know, ironically, who
Speaker 3: I think.
Speaker 4: I think a lot of these companies are in really
Speaker 4: big trouble all of a sudden, are all these SaaS companies,
Speaker 4: these software is A companies?
Speaker 3: Yeah, look at look at look at look at Salesforce. Okay,
Speaker 3: well I don't need them anymore, great point, have an LLLLM,
Speaker 3: make my own CRM.
Speaker 4: I don't need a CRM to have centralized connection. I
Speaker 4: just needed to manage my clients. I don't need to
Speaker 4: be connected to Salesforce. I'm gonna have the CRM dial.
Speaker 4: I'm gonna have the ll M make me my own
Speaker 4: CRM between the hours I leave work at night and
Speaker 4: show up the next morning, and I'll have my own
Speaker 4: CRM and I don't have to pay a subscription feed
Speaker 4: anybody for it.
Speaker 1: Okay, Well, then I'm being talked into maybe starting to
Speaker 1: warm to AI. I just also know that the devil
Speaker 1: is warm to AI.
Speaker 3: Oh.
Speaker 4: Look, there's no question it's gonna be a two sided
Speaker 4: nice right, I mean two sides, like there's no.
Speaker 3: Question I and and.
Speaker 4: But what I'm saying is I'm a little bit more
Speaker 4: encouraged or less dour because I'm seeing it also simultaneously
Speaker 4: gonna it's going to put a lot more power back
Speaker 4: in our hands than I had originally anticipated.
Speaker 3: They're just not every I mean, it's a land.
Speaker 4: There's there's going to be too many models, and we
Speaker 4: know that they're going to develop models like they'll have
Speaker 4: a truth social version of an ll M isn't code.
Speaker 4: Isn't coded to say that, you know, Internet or Continental
Speaker 4: soldiers were you know, Asian and black.
Speaker 3: You know what I'm saying, Like that's gonna happen.
Speaker 1: Sure, and let me just I'll provide you one counterpoint.
Speaker 1: Do you remember the days of iceps when there were
Speaker 1: all sorts of independent ice piece. Yeah, okay, do you
Speaker 1: remember how that ultimately got changed because you had the
Speaker 1: bigs going out and trying to buy all the indies.
Speaker 1: But there were big indies, like there was an ic
Speaker 1: P and Seattle called c net that was big and
Speaker 1: and they had a lot of subscribers. They weren't going
Speaker 1: to sell. They were going to be the regional They
Speaker 1: saw it coming. We're going to be a we're going
Speaker 1: to be a cable you know, television company. We're going
Speaker 1: to be a voipe company. They saw it all coming.
Speaker 1: Do you remember what they did to make sure there
Speaker 1: were no indies?
Speaker 3: Well, it's shoot, I mean you just said complete consolidation.
Speaker 1: They went to Congress. Yeah, and they said this is phones,
Speaker 1: this is basically phone lines. We need to be able
Speaker 1: to consolidate this. And Congress got behind that. So then
Speaker 1: it was, oh, well they're interrupting the cable business and
Speaker 1: all this. I'm just gonna say, I bet you that
Speaker 1: the bigs are going to take a run at this.
Speaker 1: AI is so big and so powerful that we need
Speaker 1: to make sure that we've got the trusted companies running it.
Speaker 1: And it's really too powerful to put in the hands
Speaker 1: of amateurs. I mean, we can't have amateurs out owning
Speaker 1: powerful weapons, guns and such. So we need to make
Speaker 1: sure that this is in the hands of trusted professionals.
Speaker 1: After all, I mean, you can't go to a doctor
Speaker 1: and say I've got bronchitis, give me penicillin. Your doctor
Speaker 1: has to say, no, I need to test to you. Well,
Speaker 1: now I get bronchitis every year, or this is clearly
Speaker 1: a tooth infection. Yeah, I'm gonna need to take a biopsy,
Speaker 1: et cetera. We can't do that. Then tell me that
Speaker 1: this Big Seven are not going to go to DC
Speaker 1: and say, look, we got to make sure that people
Speaker 1: aren't coding their own stuff.
Speaker 3: Look like I said, I'm sure they're going to try that.
Speaker 4: They just don't have the levers of control with Ai
Speaker 4: that they like his kids that get together and that
Speaker 4: are really smart and start building off an existing model
Speaker 4: that's open source on the internet, and they're doing it
Speaker 4: in their mom's basement.
Speaker 3: Good luck trying to stop that. Okay, you know what
Speaker 3: I mean. So I agree with you. They're gonna try.
Speaker 3: There's no question they're gonna try. I just think it's
Speaker 3: gonna be a lot, you know, like for instance. You know,
Speaker 3: if you look at a phone company, look at how
Speaker 3: many more moving parts and the infrastructure and the maintenance
Speaker 3: and the employees. Right, there were real benefits to consolidation,
Speaker 3: which is why they did it. You look at AI,
Speaker 3: it's just completely Like I said, three kids can come
Speaker 3: up with a better model built off an open source
Speaker 3: base model on the internet in their mom's basement. I
Speaker 3: just think it's gonna be. They're gonna try. I just
Speaker 3: think that there's we have truly opened Pandora's box. I
Speaker 3: don't think anybody's gonna be able.
Speaker 1: To look for it. Well, then I look forward to
Speaker 1: watching it happen and having you taken care of my
Speaker 1: money to make sure that they take advantage of having
Speaker 1: Thank you, Zach, Zach Cabrahm, Chief Investments or Bot Capital Management,
Speaker 1: Know Your Risk podcast dot com. This is the Todd
Speaker 1: Herman Show. Please go, be well, strong, be kind, and
Speaker 1: make a decision to not just concentrate on building up
Speaker 1: treasures on earth where thieves and rus can get at them,
Speaker 1: but treasures in heaven protected by your heavenly father.