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Speaker 1: Lots of reasons to talk on Friday with my friend

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and brother, Zach Abraham, chief investment officer Bullwark Capital Management.

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Really curious to get Zach's take on the insurance industry

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and the fires. And there's some news that Texas is

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suing All State because of an app. We'll talk about that,

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and then who makes money in these situations? Well, I

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know some people who are intended to make money. It's

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real estate speculators, right, Gavin Newsom.

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Speaker 2: I was just talking to Josh Green and the governor

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of down in Hawaii. You had some ideas around some

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land juice concerns he has around speculators coming in buying

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up properties and the like. So we're already working with

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our legal teams to move those things fun.

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Speaker 1: Absolutely, absolutely, Gavin Newsom's going to make sure ain't no

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real estate speculators come in and buying things on the cheap.

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We'll talk about this with the help of renew dot Healthcare,

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that's our e n U E dot Healthcare, and with

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God Almighty.

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Speaker 3: The Todd Horman Show is one hundred percent disapproved by

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Big Pharma technical carrats TYRN Safrian Ware from the High

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Mountains of Free America. Here's the Emerald City. Exime Todd to.

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

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these are the times through which God decided we shall

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live meeting. He has reason for planting us here at

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this period of time. Zach Abraham joins me, friend and brother,

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Chief investment Officer, Bulwark Capital Management.

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Speaker 4: Zach, welcome back, Thanks for having good as always me here.

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Speaker 1: You lived in California for a bit, right.

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Speaker 4: On a fishing boat. It was it was. It wasn't

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an It wasn't an optional It wasn't an optional choice.

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It wasn't like I decided I wanted to live there.

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Speaker 1: But he actually did live in a fishing boat.

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Speaker 4: Yeah, I lived there. Yeah, I was a commercial. Was

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one of the ways I paid my way through school

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was worked on a fishing boat. That actually didn't end

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up paying for a lot of school, because, as it

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turns out, I went down to Ventura, California for fid

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squid or squid fishing season, and wouldn't you know it,

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I walked headfirst into the worst squid fishing season in

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fifty six years, and a month on the boat cleared

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me eight hundred dollars.

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Speaker 1: Oh no, yeah, wow, you know. This is the reason

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I love you as a fund manager is there are

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very few people in your position who have ever done

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anything like that. I mean, if you've ever spent time

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around Silicon Valley or hedge funds, there's very few people

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like I shook hands at the guy once back when

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I was raising money at Silicon Valley when I started

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lifting weights again, and he like, oh, well, let me

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see your hand. Are you hurt?

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Speaker 3: No?

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Speaker 1: Those are calluses? Oh can I see those? So how

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do you get those?

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Speaker 2: Like?

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Speaker 4: It's called the work.

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Speaker 1: And if you think I'm lying or exaggerating, it's that way.

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Speaker 3: No.

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Speaker 4: I well, and my kids always like to ask me

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about it too, because you know it's I was on

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an interview with my head of research and he and I.

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One of the ways he came to to work with

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me is he and I connected because neither of us

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are Ivy league guys. Neither neither of us are you know,

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came from you know, families with money or connections or

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anything like that, and we really wanted to break into

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you know, that hedge fund world, that that higher level

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of managing money and all that kind of stuff. And

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we both came to the conclusion that if we're going

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to do it, it's not based on talent or ability,

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but if we're gonna be able to do if we

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want to be able to do this, we're gonna have

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to do it on our own because that industry, you know,

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they don't they don't. They don't pick guys like us.

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We don't have the right pedigrees. But no, I mean

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I I I sold Christmas trees, weighted tables, bus tables,

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painted stripped, you know, you name it.

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Speaker 3: Man.

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Speaker 4: I I was even a Carnie.

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Speaker 1: You did well.

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Speaker 4: I still do that. I've got an early channel.

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Speaker 1: There's vocation versus avocation at this point, right.

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Speaker 4: Yeah, well you know if yeah, so you know it's

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I'm a I'm a I'm a beautiful man and I

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just want to share the world, right So, No, yeah, no,

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it's it's it's you know, I think and I think

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all those jobs, and I think it's great for kids,

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and I think it's great for me, and I think

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it gives you a rounded view of the world, and

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I think it's like part of an education.

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Speaker 1: No, there's no doubt. There's no doubt. And I mentioned

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California obviously because of the fires, and I was looking

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at the costs, and I want to give you a

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second to think about this, but this is from Statista.

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So right now, the Western wildfare season twenty eighteen, four

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hundred billion, Hurricane Helene two hundred and twenty five to

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two hundred and fifty billion costs. This is this is

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the primary and secondary costs, direct and indirect. Hurricane Milton

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one hundred and sixty hundred and eighty billion, LA wildfires

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one hundred and thirty five to one hundred and fifty

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billion dollars in loss. One of the things I wanted

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to just plant your mind to think about is who

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makes money in these situations? Because I know there's people

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who look for catastrophe as ways to make money. There's

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other people who make money, and I think kind of

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maybe a more honest way, and it's looking at the

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gifts God gave them. There's a doctor named doctor Pat Tempo,

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and God gave him the gift of communication. He's got

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a very successful podcast called Christ Revealed and based on that,

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he's in fact chaired one of the most respected chiropractic

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organizations in the country for a number of years. Got

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to go to a trip to the Middle East and

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when he was there, he was praying, and he was

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reading the Bible, and he just noticed how many times

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herbs are mentioned and spices in almost a sacred way,

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and he was inspired to create Wisdom, which is a

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Biblical based herbal blends with about six spices and herbs

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and it's all organic. And I take this now on

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a daily basis, comes out of a dropper. It's incredibly

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potent and it helps with your immune immune system and

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it does something really cool with inflammation. It harnesses it

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to help you, helps with mind, while you with the calmness,

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clarity of mind. And again it's all based on the Bible.

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And you can try this right now. Go to try

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try wisdomow dot com you get free shipping. So have

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immune system, make inflammation in your body's friend. Try wisdomow

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dot com slash Todd. So Zach, I'm looking at this

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right now. Devastation, devastation and lives, the lies, the insanity

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that they allowed this to happen. It was predicted by everybody.

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But I'm now starting to step back and say, okay,

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putting on the cynical hat. I know California has a

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plan to build back better. I know there's smart city

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people coming in. I know there's people coming in to

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make money on this. So who are the kind of

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vulture capitalists that come into stuff like this?

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Speaker 4: Man, there's a lot, especially in the shooting gallery that

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is California. I mean I I from the outside looking in,

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I mean I just think that that whole state's for sale,

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meaning well, yeah, yeah, if you want to come in

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there with money and power new some of those people

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are going to lay they lay out the run of

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the place. Yeah, you know, real estate speculators are going

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to be huge. You're going to see a lot of

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games played with people trying to accumulate more land and

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muscle people out of it. Outside of that, though, for

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the people that want to come in and you know,

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make money that way, when you talk about disasters like this,

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they don't tend to be big money makers for really

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anybody other than that. I mean, you're going to get

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the building supply companies in that area. They get a

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boost home the world, lumber suppliers, things like that. But

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you know these are bad for the for the homeowners.

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There's a disproportionate amount of these people that didn't have

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their homes.

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Speaker 1: Insured because it was canceled.

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Speaker 4: Wait, but here's the thing. And look, I I'm a

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I like to think of myself as a very empathetic person.

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Speaker 1: Sorry, was listening to what you were saying.

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Speaker 4: I don't, but uh, and I feel very sorry for this.

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So I don't want people to take this the wrong way.

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But unfortunately, the people of California are getting exactly what

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they voted for.

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Speaker 3: Right.

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Speaker 4: And I will say this again, that's not a political statement.

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I know for a fact there are Democrats in the

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state of California that are capable of running that state

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and running that city in a responsible and efficacious way.

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I know for a fact there are Okay, I'm not

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saying you need to go red. What I'm saying is

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you need to make hiring competent people one of your

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top twenty priorities.

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Speaker 3: Right.

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Speaker 4: One of the things I've learned in life, whether we're

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talking about business, sports, whatever, success is really hard, and

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it's really hard when it is your singular focus. If

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it's not in your top twenty criteria for picking a leader,

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your chances of success are zero. There's zero. And you

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look at this. Would any of these people voting in

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California elections use the same criteria to select a nanny

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or a babysitter for their children? No?

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Speaker 1: No, And this is an endless source of frustration for me.

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You have some of the smartest money people in the world,

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some of the smartest entrepreneurs in the world, and you

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don't have to like their products, but they run successful companies.

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There's not a chance that for instance, for instance, the

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reservoirs were empty. They didn't preposition fire trucks because they

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were afraid of overtime. But all the DEI money, they

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didn't go clear the forest, they didn't rake the forests.

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None of these things happened. And they're gonna get re elected.

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And these are the same people who if you went

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into their business. Let's say the boss comes into the

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business one day and five days in a row is like, hey,

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you know, hey Hunt, can you bring me some coffee?

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Speaker 3: Oh?

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Speaker 1: Sorry, we're out a coffee. And then that's on Monday.

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Tuesday comes in, Hey Hunt, can you bring me some coffe?

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Speaker 3: Yeah?

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Speaker 1: W out of a coffee?

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Speaker 4: What?

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Speaker 1: Okay, go get me some coffee and order some Wednesday? Hey, han,

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where's my coffee? Okay? We're still out done? You know it,

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and I know it. That person is gone and maybe

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that's rightly so, and or likewise, what do you mean

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my limo's out of gas?

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Speaker 4: Did you see the one with the I believe it's

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I'm not sure. I'm not sure the position that she

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has in the fire department, But did you see the

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one where she said, what do you mean carry him out?

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What I tell him is why did he get into

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a fire in the first place?

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Speaker 1: Right? Right? I mean if I have to carry him out,

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he's got himself in the wrong position.

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Speaker 4: Well, and I said that, and I went I said that,

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and I went, wait, hold on a second. Are you

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telling me that a carrying a two hundred pounds dummy

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over your shoulders down a flight of stairs is not

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a requirement for every single fireman? Getting me out of

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the fire is your job. That's why you have a job. Yep.

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Speaker 1: She was the assistant fire chief, and her job is

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to look like other short haired, black, heavy lesbian women.

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Speaker 4: She was like if when somebody comes, if they look

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like you did, they go, Actually, lady, I don't think

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anybody gives a damn how you look when they're in

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a fire. They want to know that you're gonna get

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them out right. That's like that is. It is a

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one answer test, and if you get that one answer wrong,

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nothing else matters.

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Speaker 1: I had a friend of mine say this on social media.

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She said, I guarantee, she said, as one hundred and

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forty pound middle aged woman, I guarantee the last thing

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I want to see coming through the door if I'm

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fighting for my life in a fire is another one

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hundred and forty pounds middle aged woman.

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Speaker 4: Yeah.

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Speaker 1: I want a two hundred and twenty pounds six foot

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three inch firefighter who's going to pick me up by

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that like whatever the arm, throw mover's arm and run

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out the door.

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Speaker 4: This reminds me of the scene in Lord of the

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Rings where Gandolf is talking to Saramon and he says

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to him, you know, when did when did when did

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Sarimon the Wise become a man of you know? When

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when he's advocate that that. Gandalf joins him in saur

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On and he said, well, you know, with something along

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the lines and when did Sarrimon the Wise becomes a

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man of foolishness or something like that.

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Speaker 1: Alex is laughing the producer because he knows this by heart.

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Speaker 4: Yeah, okay, well it's a great line. But you look

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at you look at these people, and you go, what

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are guys? What are we doing here?

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Speaker 3: Right? Right?

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Speaker 1: I agreed, Let's just this is Alex correct us both

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on the line here, guys, this is are you okay

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with this sack? This has never happened.

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Speaker 4: I'm so sorry.

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Speaker 1: I just have to say, he said, when did Saramon

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the Wise abandoned reason for madness?

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Speaker 4: There we yes, yes, that was that's the quote. But

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it's where you're you're looking around going, okay, well hold on,

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I know you guys are into this whole DEI thing, right,

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but you went as far to do it with firenman like.

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Speaker 1: Okay, but but Zach, I'm gonna give you the most

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astonishing statement from Newsom and then from the Free Press,

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which is an otherwise great organization. Newsome, well, you know,

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there's a lot of debate on if having the water

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would even make a difference. And I've talked to firefighters

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and I mean having the water you're he merchandised the

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idea that one hundred and seventeen million gallons of water

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versus three million may not have made a difference. And

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you know what I can present as a counter argument

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a eighty one year old man who refused to leave

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his home and instead put a pool pump into his

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pool water and rescued his entire house, a massive estate.

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I wondered what he did, Zach, when he saw sparks land, he.

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Speaker 4: Sprayed water on, spread water on that there were I

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was reading an article about a guy that did it

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with a garden nose. House neighborhood burned down, he fended off,

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saved his house with a garden os right, yes, And

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you look at it and go, what is the percentage?

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I don't want to overstate it, but some crazy percentages

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of fire hydrants weren't even operational, right.

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Speaker 1: About forty percent?

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Speaker 4: I think, Yeah, just the level of incompetence if these

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people continue to vote, like I said, Man, I'm not

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sitting here saying you have to vote Republican to get

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competent leadership. I'm not saying that if you continue to

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vote for these same people, you just like, hey, you

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don't when a good you don't what a good idea

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to leave town is when you can't get your house insured? Right,

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What Why in the hell were these people staying there?

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Speaker 1: And you can vote, well, if they had the California

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Fair thing to back then after the insurance companies, I

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think were forced to leave, or maybe they're waiting for

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the big build back better because you know, I'm a

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very cynical guy and they'd love that build back better

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because there's going to be condos where there were single

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family houses. Mark my words, this is going to be now.

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Santa Monica is going to change completely. These beautiful single

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family homes are gone. But they were forced to leave.

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They had the California Fair right, that's the California insurance

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thing that if there's no insurance available, you get that

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seven hundred and fifty six million dollars in that fund.

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Seven and fifty six million in an area like Santa Monica,

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that's a block of houses you're talking about, No, you're

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talking about maybe twenty houses, maybe thirty in Santa Compuny

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and the beach.

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Speaker 4: But here's the kicker. The kicker to me is they

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did exactly what they told you. They were going to

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do right, like you're you're surprised that this state has

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run this incompetently to the and to new some in

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the mayor's credit. And I really mean this. They are

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doing exactly what they told the voters they would do.

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They're being true to their word. Right, They're focused on

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the things that they said they'd be focused on.

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Speaker 1: That's true.

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Speaker 4: We sat there the whole time going, guys, don't do this.

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You don't want it run that way, but you voted

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that way and now you're all up in arms because

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you got exactly what you bought. And that's what I

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have a problem with. Where I'm literally looking at people going, hey,

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if you didn't vote that way while you're still living there,

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and if you did vote that way, I don't want

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to hear you. I don't want to hear you complain

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about it, like, yes, I feel horrible for you. I'm

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not minimizing the loss of life. I'm not minimizing law.

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It's it's it's awful. But if you if I can't

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stop you, if you're not going to listen to me

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when I tell you that that stove, that that burner

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on that stove that is currently read that it's hot

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and you've got to put your hand on it to

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test it. I feel bad you're burned, but don't expect

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me to cry about it with you, because it's just

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completely self inflicted.

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Speaker 1: And we're going to pay for it. Though Figurehead Biden

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was caused to say on his way out the door,

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the federal government's going to cover one hundred percent of

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the initial rebuild. Meanwhile, in western North Carolina, and this

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is now confirmed, Fela was kicking people out of hotel rooms. Yeah,

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this this weekends. They have no place to go, and

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Figurehead Biden's cause to say this on the spot. And

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I want to extend the insurance conversation just a bit

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for just a second here, Zach, after you talk about

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bone Frog coffee, Bonefrog Coffee dot com slash todd this

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and this is a big coffee day for me. Wednesdays

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are big days, is Zach? And are sitting here to

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record this big long days for me. I talked about

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seven hours straight, So this is now my This will

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be the thirtieth ounce of bone Frog coffee for the day,

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plus of other some supplements that may have taken earlier

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to workout. And I did take if you are drinking

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coffee and you love the lift of it. You know

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it's an antioxidant for me, it helps fight against oppression.

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The only question is which coffee to drink. Let's go

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eliminate some companies. There's that company that likes to talk

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about rifles and a certain color of the rifles. Maybe

359
00:17:48,839 --> 00:17:51,640
it's good coffee. Never had it. I know this. When

360
00:17:51,720 --> 00:17:55,119
Kyle Rittenhouse needed his Second Amendment and used his rifle

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of a certain color, that company criticized him on Twitter,

362
00:18:01,759 --> 00:18:06,839
disqualified Starbucks. Well, if you like a company that helped

363
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donate to the Mermaid Fund, which chemically and surgically altered,

364
00:18:11,640 --> 00:18:16,079
let's say it that way. Kids have that, that's Starbucks.

365
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What else do we have? Folgers I used to drink

366
00:18:19,920 --> 00:18:24,480
that doesn't taste great company DEI doesn't really care about

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00:18:24,480 --> 00:18:27,839
our values. The coffee at bone Frog is made by

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00:18:27,839 --> 00:18:31,759
Tim Krookshank, a founder, the founder, former Navy seal, committed

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00:18:31,799 --> 00:18:34,119
to excellence, so God country team on every bag, that

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will never change. And Tim found a mentor, Dave Stewart,

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00:18:38,319 --> 00:18:42,599
who effectively started the Seattle coffee craze. The in other words,

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00:18:42,680 --> 00:18:46,039
good coffee. It was so good that Howard Schultz had

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to purchase it when he took Starbucks Public. And David's

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00:18:50,319 --> 00:18:53,799
your mentors or makes these roasts. So that's the decision matrix.

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00:18:54,319 --> 00:18:56,680
What would stop you from subscribing right now to bone

376
00:18:56,680 --> 00:18:59,000
Frog Coffee and just switching your coffee. It'll come to

377
00:18:59,000 --> 00:19:02,039
your house automatically, often with a handwritten note from Tim himself.

378
00:19:02,200 --> 00:19:04,519
Go to Bonefrog Coffee dot com slash todd. You'll get

379
00:19:04,519 --> 00:19:09,440
fifteen percent off subscription coffee Bonefrog Coffee dot com slash todd.

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So do you agree with me, Zach? My understanding is

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that California came and capped how much insurance companies could charge,

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how much they could raise their rates. So insurance companies,

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looking at some of the richest contracts in the world

384
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with some of the richest people who have no problem

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paying out through the teeth for insurance, they actually had

386
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to cancel because they do risk analyses, right, don't insurance companies,

387
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and particularly in big homes like this, if they see

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fire damage as a risk, they're getting out. So is

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that what you've heard as well?

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Speaker 4: Yeah, well, and not just fire damage but the certainty

391
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of it, right, which was this is sort of like

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you know, I'd make it akin to the whole Cascadia

393
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at earthquake event here in Washington State, right, which if

394
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you live here, you know, if it's the Cascadia fault

395
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and it is bound to produce a large earthquake at

396
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some point, right, it's only a matter of time. Well,

397
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a lot of experts were spin saying that for the

398
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last you know, several decades and saying that, look, it

399
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is only a matter of time until one of these

400
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fires that originates in the hills moves its way down

401
00:20:09,480 --> 00:20:11,519
and rolls through La proper all the way to the ocean.

402
00:20:11,880 --> 00:20:15,279
That was not that's not a surprise, right, So when

403
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you see on top of that, you see that ever

404
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present risk, and you know, a guy like Gavin Knwsombe,

405
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they're coming in and they're making literally uneconomical insurance standards.

406
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Insurance companies leave. I just it's not simple. If you're

407
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not going to let me charge an amount that that

408
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effectively allows me to you know, underwrite that risk, then

409
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I'm not going to take it. And you know, once again,

410
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you're doing what you're seeing here in LA And I

411
00:20:44,079 --> 00:20:45,359
know you know this. I'm not telling you that you

412
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don't know, but what you're just seeing as a classic

413
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example of ideology running up against reality. And like you

414
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and I have said reality, well, reality is undefeated.

415
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Speaker 1: Matth Wins. I don't love insurance companies. I mean I

416
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see the importance of them. Obviously, we have insurance in

417
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our house, and so do you and I have Meta Share.

418
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It's a company I don't respect, but I have them.

419
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I don't know would it be possible. I mean, what

420
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would you think about requiring insurance policies to have some

421
00:21:09,839 --> 00:21:12,759
cash value. Here's my thing is they're leaving. They know

422
00:21:12,839 --> 00:21:15,920
governments are risk, they know California is a socialist, communist state.

423
00:21:16,680 --> 00:21:18,880
You've been paying into this so long and you've got

424
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nothing from it. You've never filed the claim, and they

425
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walk away. Hey, thanks so much, one hundred percent margin

426
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in your business. Appreciate that you never got a dime

427
00:21:26,720 --> 00:21:29,519
from us. We never did anything for you. We're canceling.

428
00:21:30,400 --> 00:21:30,759
Speaker 4: Yeah.

429
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Speaker 1: In a situation like that, I think they should actually

430
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be forced to say, here's some cash value.

431
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Speaker 4: I don't disagree with you in principle, but I disagree

432
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with you in practice. Meaning if a state chooses to

433
00:21:45,000 --> 00:21:50,279
make ridiculous yes policy like California does yes, then I

434
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do not think that the reason you're exiting that state,

435
00:21:53,400 --> 00:21:57,559
like it shouldn't hurt your business because an idiot named

436
00:21:57,599 --> 00:22:02,720
Gavin Newsome, you know, UNILAD really changes insurance standards based

437
00:22:02,759 --> 00:22:06,519
on nothing other than electability and wanting to say he

438
00:22:06,559 --> 00:22:10,079
lowered premiums. Right, it's one of these. It's just it's

439
00:22:10,119 --> 00:22:11,839
it's classic modern liberalism.

440
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Speaker 3: Right.

441
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Speaker 4: What we're gonna We're gonna treat the symptom, and in

442
00:22:14,720 --> 00:22:18,720
doing so, we are going to risk stage four cancer, right,

443
00:22:18,759 --> 00:22:21,000
Like we're gonna get rid of this little inconvenience, but

444
00:22:21,039 --> 00:22:23,599
we're going to bring into it this existential threat. Right,

445
00:22:23,640 --> 00:22:27,079
that's a The cost benefit analysis of these people is

446
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as bad as any I've ever seen. Right, They continue

447
00:22:30,440 --> 00:22:34,920
to they continue to buy a dollar for five uh,

448
00:22:35,359 --> 00:22:37,920
you know it just they make the wrong, the wrong

449
00:22:37,960 --> 00:22:42,079
decision at every turn. So no, I would say, if

450
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if it was a predatory type of practice where the

451
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insurance company was let's say the let's say the state

452
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hadn't completely turned around its insurance standards and made these bos,

453
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then then I think something like that should be able

454
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to kick in, right, Right, But when it's purely caused

455
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by the state, which is in the case of California

456
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that I think you should be able to leave and

457
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not have to give anybody any fair enough once again

458
00:23:05,599 --> 00:23:08,519
once again, at some point we've got to return to

459
00:23:08,559 --> 00:23:11,559
caveat m tour and another part of that. And it's

460
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another thing that quite it frankly takes me off about

461
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the federal government stepping in. They made their choice, they

462
00:23:19,039 --> 00:23:21,039
hired these people, they voted these people.

463
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Speaker 1: I'd agree with that.

464
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Speaker 4: These people made their decisions. They got to carry the costs.

465
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Speaker 1: So they bought that. And if I were tost suggest

466
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one change, I've been trying to think about how you

467
00:23:30,000 --> 00:23:33,720
can hold officeholders responsible because you know, and I know,

468
00:23:33,839 --> 00:23:39,680
our constitution effectively forbids suing government officials for decisions they

469
00:23:39,720 --> 00:23:42,599
made in their either going to work or being at

470
00:23:42,599 --> 00:23:46,240
work in their official duties. That wasn't invented for President Trump.

471
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That was simply the Supreme Court going, yep, that's what

472
00:23:48,039 --> 00:23:51,680
the constitution says, here's what you could do. And this

473
00:23:51,720 --> 00:23:54,799
is what I would love to see. States. Do you

474
00:23:54,839 --> 00:23:59,039
take this lady who supposedly manage the water supply? Her

475
00:24:00,119 --> 00:24:01,960
heard that number seven hundred and fifty grand a year,

476
00:24:02,960 --> 00:24:07,519
that did you know that's her base salary base. So

477
00:24:07,680 --> 00:24:10,519
you take her, you take uh chicks.

478
00:24:11,039 --> 00:24:13,599
Speaker 4: But she made this is out. They are paying their

479
00:24:13,680 --> 00:24:17,920
water manager, who's clearly not good at her job, double

480
00:24:18,000 --> 00:24:20,519
the United what they pay the United States President.

481
00:24:20,279 --> 00:24:24,599
Speaker 1: Right exactly as a base, meaning she can get bonuses.

482
00:24:25,519 --> 00:24:29,519
Speaker 4: So here's what a gig man, I know, I want

483
00:24:29,559 --> 00:24:31,200
to be the head of their water.

484
00:24:32,039 --> 00:24:34,480
Speaker 1: You do a better job, because you might the day

485
00:24:34,480 --> 00:24:36,319
one go. You might walk in and go. So are

486
00:24:36,359 --> 00:24:37,119
the reservoirs fall?

487
00:24:37,640 --> 00:24:38,119
Speaker 4: Oh yep?

488
00:24:38,160 --> 00:24:42,839
Speaker 1: Hold on, yep, hold hold on. Well they're not, and

489
00:24:42,839 --> 00:24:44,440
then you're gonna fill them. And then it's gonna be

490
00:24:44,440 --> 00:24:45,559
like this guy's a genius.

491
00:24:45,799 --> 00:24:46,759
Speaker 4: Yeah, he's sharp.

492
00:24:47,519 --> 00:24:48,279
Speaker 1: He came up there.

493
00:24:48,799 --> 00:24:50,039
Speaker 4: You got to pay him a million year.

494
00:24:50,119 --> 00:24:52,079
Speaker 1: You came in and filled them. So here's here's what

495
00:24:52,079 --> 00:24:56,920
I've come up with. You can't sue them for their jobs. Okay,

496
00:24:57,319 --> 00:25:01,279
here's what you can do. They're going to sign off

497
00:25:01,440 --> 00:25:06,200
on inspections for critical infrastructure. She's going to sign a

498
00:25:06,200 --> 00:25:11,039
piece of paper that says, I attest, under penalty of

499
00:25:11,160 --> 00:25:18,880
criminal perjury felony perjury, that I attest that the reservoirs

500
00:25:18,880 --> 00:25:24,039
are full, and then working order the fire hydranturn working order,

501
00:25:24,640 --> 00:25:27,359
I attest to this and if she can't she doesn't,

502
00:25:27,920 --> 00:25:31,240
then she says, I do not attest to this. Now

503
00:25:31,480 --> 00:25:33,759
you have her on public record that she refuses to

504
00:25:33,799 --> 00:25:38,559
do this. If she lies, then you have a contract.

505
00:25:39,000 --> 00:25:42,720
Now you already said criminal perjury. You're making a statement

506
00:25:42,880 --> 00:25:45,079
of truth to the people. I mean, that would be

507
00:25:45,079 --> 00:25:47,920
one way to exact some accountability.

508
00:25:47,960 --> 00:25:51,960
Speaker 4: It would, And philosophically I love it because you know,

509
00:25:51,960 --> 00:25:54,240
I think you and I are both the same that way.

510
00:25:54,680 --> 00:25:58,759
You know, a huge fan of personal responsibility. Yeah, accountability

511
00:25:58,759 --> 00:26:02,559
and whatever boosts that. At the same time, I don't

512
00:26:02,599 --> 00:26:05,039
know that I'm in favor of it. And the reason

513
00:26:05,079 --> 00:26:11,599
why I say that is voters have to start bearing

514
00:26:11,640 --> 00:26:13,200
the weight of the votes that they cass.

515
00:26:13,480 --> 00:26:17,799
Speaker 1: I totally agree with you, and yes, because we have.

516
00:26:17,680 --> 00:26:19,759
Speaker 4: A mechanism to deal with these people. It's called voting.

517
00:26:19,920 --> 00:26:22,039
Speaker 1: We do, right. But when Gavin Newsom can go on

518
00:26:22,079 --> 00:26:24,519
TV and Adam Schiff both said the reserv urs were full.

519
00:26:27,000 --> 00:26:30,160
Speaker 4: Copyaem tour man, you get the government you deserve and

520
00:26:30,200 --> 00:26:32,640
if people want to keep voting these people in. Yeah,

521
00:26:32,720 --> 00:26:35,920
Philosophically I'm right there with you. Man. It's infuriating. I'd

522
00:26:35,960 --> 00:26:38,359
love to see these people pay at the same time,

523
00:26:38,559 --> 00:26:41,359
these are the idiots the electorate pick if they like them,

524
00:26:41,599 --> 00:26:44,599
then deal with it. What my problem is is that

525
00:26:45,000 --> 00:26:48,559
federal funds now are coming in to clean up the

526
00:26:48,720 --> 00:26:51,319
idiocy that and that to.

527
00:26:51,319 --> 00:26:54,039
Speaker 1: Me is the whole deal that you and I are

528
00:26:54,079 --> 00:26:57,440
in firm agreement there that if President Trump has said,

529
00:26:57,480 --> 00:27:00,279
and he is, he said, now you want FEMA once

530
00:27:01,240 --> 00:27:03,359
fix your forests and your water or you're not getting

531
00:27:03,359 --> 00:27:06,279
any right, So I agree with that as well.

532
00:27:06,640 --> 00:27:08,000
Speaker 4: And they're going to try to make him look like

533
00:27:08,039 --> 00:27:10,880
he's an opportunist. Now he's trying to take advantage of

534
00:27:10,880 --> 00:27:13,519
the buyers. They're gonna they're gonna do all those nonsense.

535
00:27:13,720 --> 00:27:16,880
And I just see it's it's it's madness. It would

536
00:27:16,920 --> 00:27:19,839
be it would be patently irresponsible if he didn't do that.

537
00:27:20,079 --> 00:27:21,839
Speaker 1: You know who else did that? You know who else

538
00:27:22,000 --> 00:27:26,400
said no money if you don't do what I say, Hitler.

539
00:27:26,920 --> 00:27:30,519
Speaker 4: Well, right, it's a good call. It's a good.

540
00:27:31,880 --> 00:27:35,000
Speaker 1: We need to talk about one other aspect of the

541
00:27:35,039 --> 00:27:37,960
insurance industry, which will get us into the conversation. You

542
00:27:38,000 --> 00:27:40,880
mentioned to me earlier you saw something in the Zuckerberg

543
00:27:40,960 --> 00:27:44,559
interview with Joe Rogan I didn't see and want to

544
00:27:44,559 --> 00:27:48,680
talk about with you a second about that if I

545
00:27:48,680 --> 00:27:50,400
sound like I'm starting, as I just mentioned, had a

546
00:27:50,440 --> 00:27:52,319
ton of coffee and this is a big coffee day

547
00:27:52,359 --> 00:27:54,319
for me. Wednesdays are big recording days, going on like

548
00:27:54,319 --> 00:27:58,359
seven hours of talking straight. So triple down on bone

549
00:27:58,400 --> 00:28:01,559
Frog today, which means I'm going to have trouble sleeping.

550
00:28:02,319 --> 00:28:04,920
That's what that means. I know this, So I know

551
00:28:04,960 --> 00:28:06,559
I'm going to go have a second workout when I

552
00:28:06,599 --> 00:28:08,440
get home. I know that's going to help. But I

553
00:28:08,519 --> 00:28:12,519
also know this, I will quadruple down on magnesium breakthrough

554
00:28:12,599 --> 00:28:16,200
and sleep breakthrough. Hey, this is a product stack I

555
00:28:16,359 --> 00:28:19,000
use when I know sleep is going to be a challenge.

556
00:28:19,559 --> 00:28:23,000
So magnesium breakthrough helps with things other than sleep. Regularity

557
00:28:23,640 --> 00:28:25,720
is one of the things. It helps with abating stress

558
00:28:25,720 --> 00:28:28,839
by controlling the stress hormone cortisol. It in fact is

559
00:28:28,880 --> 00:28:34,720
responsible for six hundred important body interactions and sleep. Tonight

560
00:28:34,839 --> 00:28:36,359
is going to be my focus. So I'm going to

561
00:28:36,400 --> 00:28:39,880
take four versus two magnesium breakthrough. And every time I

562
00:28:39,920 --> 00:28:42,480
do this, I start to feel warm and I get

563
00:28:42,480 --> 00:28:45,119
this relaxed feeling, and I know tonight's going to be

564
00:28:45,160 --> 00:28:47,519
particularly challenging because of my caffeine load that even for

565
00:28:47,599 --> 00:28:50,559
me today is huge. So I'm going to stack Sleep

566
00:28:50,680 --> 00:28:53,880
Breakthrough which comes in powdered form, and I drink that

567
00:28:54,119 --> 00:28:56,680
and I'll take that just before going to sleep. Actually,

568
00:28:56,680 --> 00:28:58,119
what I do is I don't drink it as scoop

569
00:28:58,160 --> 00:28:59,880
in my mouth and have a swallow of water. That way,

570
00:29:00,000 --> 00:29:01,119
I don't have a bunch of water before I go

571
00:29:01,160 --> 00:29:04,400
to sleep. You can have the same ability to deal

572
00:29:04,440 --> 00:29:08,880
with regular sleep issues, regularity and importance key sleep issues

573
00:29:08,920 --> 00:29:11,839
like tonight. Go to biptemizures dot com slash Todd, use

574
00:29:11,839 --> 00:29:13,640
promo code tod to get teen percent off, and when

575
00:29:13,680 --> 00:29:17,519
you subscribe to products like magnes and Breakthrough and Sleep Breakthrough,

576
00:29:17,960 --> 00:29:20,160
you're always gonna have products on hand. Plus you're gonna

577
00:29:20,160 --> 00:29:25,000
get access to exclusive discounts and exclusive gifts. Good to

578
00:29:25,039 --> 00:29:29,079
bibptemizers dot com slash Todd promo code Todd. So zach

579
00:29:30,039 --> 00:29:32,640
Ken Paxton, who they tried to impeach and get rid

580
00:29:32,680 --> 00:29:35,960
of in Texas, the shiny shoed Republicans and Democrats in

581
00:29:36,000 --> 00:29:40,279
the Bush family is suing all states in arity for

582
00:29:40,359 --> 00:29:44,359
unlawfully collecting, using, and selling over forty five million Americans

583
00:29:44,440 --> 00:29:47,480
driving data to insurance companies, and the way they got

584
00:29:47,480 --> 00:29:50,880
this surprise, surprise, surprise is the app. People download the

585
00:29:50,920 --> 00:29:53,240
apps so they can have the convenience of I don't know,

586
00:29:53,359 --> 00:29:55,559
checking their accounts, paying their bills via the phone, which

587
00:29:55,599 --> 00:29:57,960
is something I don't do. And that app was driving

588
00:29:58,000 --> 00:30:00,599
right along with you and it's looking at your speed,

589
00:30:00,839 --> 00:30:02,839
in the amount of urns you're making, it's comparing that

590
00:30:02,880 --> 00:30:05,880
against a map, and they're selling that to other companies.

591
00:30:07,279 --> 00:30:12,119
When this happens, are you shocked and stunts and taking

592
00:30:12,119 --> 00:30:13,720
a back? Are you looking at this going wait a minute,

593
00:30:13,720 --> 00:30:15,000
does anyone think they're not doing this?

594
00:30:17,400 --> 00:30:17,680
Speaker 3: Yeah?

595
00:30:17,759 --> 00:30:23,359
Speaker 4: I mean that. Look, unless if a company is not

596
00:30:23,559 --> 00:30:26,640
doing that, you're gonna know they're not doing it because

597
00:30:26,640 --> 00:30:28,480
they're going to go to every length to tell you

598
00:30:28,519 --> 00:30:31,559
and demonstrate to you constantly that they're not doing it. Yes,

599
00:30:31,640 --> 00:30:34,440
if they're not doing that, they're selling every single piece

600
00:30:34,480 --> 00:30:36,680
of data they have on you. Just know that right.

601
00:30:37,160 --> 00:30:41,640
If they're and if they are telling you that they're

602
00:30:41,680 --> 00:30:45,480
not doing it, it's a trust but verify scenario. But

603
00:30:45,640 --> 00:30:48,599
if they're not saying anything to you, then they're selling everything.

604
00:30:48,960 --> 00:30:52,960
Speaker 1: Everybody must understand something. Apps on your phones are spy devices.

605
00:30:53,279 --> 00:30:56,480
Speaker 4: Yes, that's why they're trying to push you in them right, right,

606
00:30:57,119 --> 00:30:59,000
That's why they've made the functionality on a lot of

607
00:30:59,000 --> 00:31:01,920
the websites purpose flee not as good to push you

608
00:31:02,000 --> 00:31:05,799
into the app because the app is like a captive place, right,

609
00:31:05,880 --> 00:31:09,200
It's it's embedded into your phone, gives them access to

610
00:31:09,279 --> 00:31:11,720
data on other apps, all that kind of stuff.

611
00:31:11,759 --> 00:31:13,960
Speaker 1: I mean, you're looking at the guy who works as

612
00:31:13,960 --> 00:31:17,079
a team to try to get Microsoft to release the

613
00:31:17,119 --> 00:31:19,960
iPhone before the iPhone was invented. I didn't invent the UI.

614
00:31:20,200 --> 00:31:22,680
I couldn't do anything like that. I couldn't revent a

615
00:31:22,720 --> 00:31:26,000
shell and placement replacement. They were incredibly smart sciencests who

616
00:31:26,000 --> 00:31:28,279
did that because they hated the way the Microsoft phone worked.

617
00:31:28,359 --> 00:31:30,039
But they brought me to get a business model in

618
00:31:30,119 --> 00:31:32,480
I'm like, oh, we call them applets.

619
00:31:32,839 --> 00:31:33,599
Speaker 4: You know what's funny?

620
00:31:33,599 --> 00:31:33,720
Speaker 3: Man?

621
00:31:34,079 --> 00:31:37,240
Speaker 4: And I don't understand, speaking of Microsoft, I don't understand

622
00:31:37,240 --> 00:31:39,000
why they don't team up with Google and go make

623
00:31:39,039 --> 00:31:42,640
a competitor to the iPhone. I mean, the iPhone's trash.

624
00:31:42,880 --> 00:31:44,839
Speaker 1: Okay, we're gonna talk about the iPhone trashing. Just one

625
00:31:44,839 --> 00:31:47,680
thing I want to mention real quick. QR codes. Do

626
00:31:47,720 --> 00:31:48,160
you use.

627
00:31:48,039 --> 00:31:52,920
Speaker 4: Them everywhere I have. Yeah, when they're when it's applicable.

628
00:31:53,000 --> 00:31:56,400
Speaker 1: Okay, I want everybody to think about this. A QR code.

629
00:31:56,440 --> 00:31:59,359
Everyone knows what that is. That's at Goblygook Square. People say,

630
00:31:59,400 --> 00:32:02,480
pointed at the code. Here's a question. Do you know

631
00:32:02,519 --> 00:32:05,519
what else your phone could take a picture of and

632
00:32:05,519 --> 00:32:13,759
send you to a website a URL? Oh, take a

633
00:32:13,759 --> 00:32:15,319
picture of the URL and your phone to go there.

634
00:32:15,359 --> 00:32:18,039
So why do you think QR codes are not human readable?

635
00:32:22,920 --> 00:32:27,839
Because it's causing your phone to undertake functions they don't

636
00:32:27,880 --> 00:32:31,839
want you to know about. Ah, you're taking a picture

637
00:32:31,920 --> 00:32:36,400
of it, and your software on your phone is sending

638
00:32:36,400 --> 00:32:39,920
you to a website and gosh, you know what they're

639
00:32:39,920 --> 00:32:41,680
going to find out is it sends you to the

640
00:32:41,680 --> 00:32:43,839
website and said, oh, by the way, it's this model phone.

641
00:32:44,000 --> 00:32:46,480
Here's the device ID, this is the Wi Fi they're using.

642
00:32:46,880 --> 00:32:49,920
Then they can take that data and apply that to Okay,

643
00:32:49,920 --> 00:32:52,599
so device ID, this is this Wi Fi. Here's this

644
00:32:52,640 --> 00:32:56,119
person's taking another QR code. Hey, same person. Wait a minute,

645
00:32:56,160 --> 00:32:58,799
Now we can figure out where they live. And this

646
00:32:58,880 --> 00:33:01,920
is the way they triangulate through on this data to

647
00:33:02,039 --> 00:33:03,680
try to figure out who we are, and they very

648
00:33:03,759 --> 00:33:06,559
quickly get there. And if people don't understand, these are

649
00:33:06,680 --> 00:33:09,279
just utter spy devices. I was at There's a pizza

650
00:33:09,279 --> 00:33:10,960
place I go to once a week called Ember's on

651
00:33:10,960 --> 00:33:14,039
the Lake at Howser, Idaho. And the other day I'm

652
00:33:14,039 --> 00:33:18,119
on Facebook, which I use for content, and this face

653
00:33:18,160 --> 00:33:23,799
pops up of an employee people you might know. I'm like, yeah,

654
00:33:23,839 --> 00:33:26,839
I know that kid. He works at the pizza place.

655
00:33:28,279 --> 00:33:31,279
Now I'm fifty seven. I don't know how old he is.

656
00:33:31,319 --> 00:33:34,839
I'm guessing twenty one. We've never gone to the same school.

657
00:33:36,079 --> 00:33:40,720
I have my phone locked down, like no location data,

658
00:33:40,759 --> 00:33:44,400
no microphone, no camera, none of those things. And so

659
00:33:44,799 --> 00:33:48,200
he recommending that I become friends with this kid who

660
00:33:48,240 --> 00:33:51,799
works young man who works at Ember's. So how they

661
00:33:51,839 --> 00:33:56,400
do that? And if only figured it out this device proximity.

662
00:33:56,759 --> 00:34:00,480
He has all his stuff turned on. So I sit

663
00:34:00,519 --> 00:34:03,200
there and I have a conversation with him about NCAA

664
00:34:03,240 --> 00:34:06,759
football in the NFL, and it's going into his phone.

665
00:34:07,359 --> 00:34:09,519
My device is proximity to that. So at some point

666
00:34:09,599 --> 00:34:12,360
or another, my device idea got into some database and

667
00:34:12,400 --> 00:34:15,719
here we go. Now it's popping me out and basically

668
00:34:15,760 --> 00:34:18,760
an ad to ping this guy. So of course, what

669
00:34:18,800 --> 00:34:20,719
fifty seven year old men do is then ask to

670
00:34:20,719 --> 00:34:22,239
be friends with a twenty one year old kid who

671
00:34:22,239 --> 00:34:26,519
works at a restaurant, because that's not creepy in the least, right,

672
00:34:26,840 --> 00:34:29,559
nothing creepy about that. He'd be absolutely thrilled. Hey, you

673
00:34:29,639 --> 00:34:32,119
know that old man who comes in by himself, he

674
00:34:32,199 --> 00:34:35,639
wants to be friends on Facebook. I think I'll say yes.

675
00:34:35,880 --> 00:34:38,559
So you had a fascinating conversation you're telling me about

676
00:34:38,960 --> 00:34:41,639
regards Apple and Mark Zuckerberg will talk about this in

677
00:34:41,719 --> 00:34:44,800
a second. I do want to once again present this

678
00:34:44,880 --> 00:34:48,079
scenario to you, and this is a lifetime scenario, and

679
00:34:48,119 --> 00:34:50,440
this is a fact for life. You're going to clean

680
00:34:50,480 --> 00:34:53,119
your body unless you are disgusting. And if you choose

681
00:34:53,159 --> 00:34:56,239
to be disgusting, your business. You know, all affirm that

682
00:34:56,239 --> 00:34:59,880
that's what we are. We're an affirming society. Or like

683
00:35:00,199 --> 00:35:03,239
you go to use soap so again in the cabinets

684
00:35:03,280 --> 00:35:06,519
at the bathroom, do you have any excuse for the

685
00:35:06,559 --> 00:35:09,679
soap you buy? Truly in a not same excuse, but

686
00:35:09,760 --> 00:35:12,800
any reason at all. Well, it's just soap, all right.

687
00:35:12,840 --> 00:35:14,800
For the rest of your life, when you're gonna be alive,

688
00:35:14,840 --> 00:35:18,480
you might spend one hundred grand on soap. Why not

689
00:35:18,840 --> 00:35:21,119
use it from a soap company that cares about you.

690
00:35:21,159 --> 00:35:23,960
This is Alan Soaps. They care because the product is

691
00:35:23,960 --> 00:35:26,159
made in America. It's all natural, it's made by family

692
00:35:26,159 --> 00:35:29,480
with three generations of soap making expertise. More importantly, they

693
00:35:29,519 --> 00:35:32,400
care about treating people the way God wants us to

694
00:35:32,400 --> 00:35:35,280
treat people. These are young people who would not be

695
00:35:35,320 --> 00:35:37,880
able to work in the world because they have autism

696
00:35:38,679 --> 00:35:42,400
high up on the spectrum nonverbal. Many of them have

697
00:35:42,639 --> 00:35:48,599
very significant structural concerns, challenges, surgeries, et cetera. They work

698
00:35:48,639 --> 00:35:51,320
at Alan's and they do a killer job. Allan himself

699
00:35:51,760 --> 00:35:55,000
is fourteen. He's been through eighteen operations. Go to Alansoaps

700
00:35:55,039 --> 00:35:58,519
dot com slash todd. You get ten percent off everything there, obviously,

701
00:35:58,519 --> 00:36:00,840
including the soaps and the what do you call them

702
00:36:00,880 --> 00:36:02,840
the other day, Alex, the things that you wash your

703
00:36:02,840 --> 00:36:07,119
face with hoofahs, lufah lufahs and soapras. It's a Alan

704
00:36:07,159 --> 00:36:09,599
Soaps dot com slash todd. That's Alan Soaps dot Com

705
00:36:09,639 --> 00:36:13,679
slash todd. So Zach, you had yourself a conversation with

706
00:36:13,719 --> 00:36:16,400
the guy who might know a little bit about the things.

707
00:36:16,480 --> 00:36:20,599
Mark Zuckerberg was talking about with Apple, and let's start there. Zuckerberg,

708
00:36:20,719 --> 00:36:23,360
apparently you heard him on Rogan say something that you've

709
00:36:23,400 --> 00:36:25,679
been saying about Apple for a long time. I think

710
00:36:25,719 --> 00:36:27,199
the word trash came out of your mouth.

711
00:36:28,079 --> 00:36:33,679
Speaker 4: Yeah, the look. It's odd to say this because I

712
00:36:33,679 --> 00:36:35,760
know so many people have big chunks of Apples sitting

713
00:36:35,800 --> 00:36:39,800
in their portfolios. The stock has performed so well, everybody

714
00:36:39,880 --> 00:36:42,400
loves it. But Apple, to me is the classic example,

715
00:36:42,400 --> 00:36:44,480
and I've been saying this for a while, of a

716
00:36:44,480 --> 00:36:47,039
company that's began to let the CPAs run it and

717
00:36:47,079 --> 00:36:50,039
a company that is completely has a dearth of innovation.

718
00:36:51,000 --> 00:36:53,920
It is an innovation black hole. The only new product

719
00:36:53,960 --> 00:36:57,039
they brought to market is that vr Hebsah headset, which

720
00:36:57,119 --> 00:37:01,840
was garbage for three thousand dollars a piece. Tim Cook

721
00:37:01,880 --> 00:37:04,880
couldn't innovate himself out of a wet paper bag. Their

722
00:37:04,920 --> 00:37:08,239
growth rates have completely fallen off. They are not making

723
00:37:08,280 --> 00:37:11,440
increased profits by bringing new products to market. They're bringing

724
00:37:11,480 --> 00:37:15,239
their increasing new products by trapping you further into their

725
00:37:15,519 --> 00:37:18,840
ecosphere and figuring out new ways to nickel and dime

726
00:37:18,840 --> 00:37:20,800
you on the service side. That's where their growth is

727
00:37:20,840 --> 00:37:24,400
coming from. You go look at the iterations of phone.

728
00:37:24,960 --> 00:37:27,920
The last iteration of phones that came out. The innovation

729
00:37:28,079 --> 00:37:32,079
in that phone was that it had a titanium outside. Right,

730
00:37:33,159 --> 00:37:35,079
they want you to pay eighteen hundred bucks for the

731
00:37:35,119 --> 00:37:38,159
new phone, even though the new phone basically has no

732
00:37:38,239 --> 00:37:40,800
new capabilities. But why do you pay up for the

733
00:37:40,840 --> 00:37:42,960
new phone because all of a sudden, remember when you

734
00:37:42,960 --> 00:37:45,199
first bought an iPhone. I remember at one point my dad,

735
00:37:46,559 --> 00:37:48,519
this was probably like five or six years ago, he

736
00:37:48,559 --> 00:37:51,559
still had like an iPhone six. And the reason he

737
00:37:51,719 --> 00:37:54,119
still had it is because those new those old school

738
00:37:54,159 --> 00:37:57,639
iPhones were indestructible. Yeah, okay, you get these new iPhones.

739
00:37:58,519 --> 00:38:01,119
I don't care what Apple is saying telling you they

740
00:38:01,159 --> 00:38:05,840
have started doing planned obsolescence. Oh Gusha iPhones last a

741
00:38:06,000 --> 00:38:09,199
third of what the older ones do. Every time I

742
00:38:09,280 --> 00:38:12,239
get a new update, all of my other apps that

743
00:38:12,320 --> 00:38:16,719
aren't Apple don't run as well. Their buggy. Apple is

744
00:38:16,800 --> 00:38:19,679
going down the road that you've seen so many other

745
00:38:19,719 --> 00:38:23,199
companies go down, Which is it it is easier to

746
00:38:23,320 --> 00:38:26,159
nickel and dime our customers than it is to innovate,

747
00:38:26,519 --> 00:38:30,280
and they I, unless you get a change in leadership,

748
00:38:30,599 --> 00:38:32,840
you will continue to see this company go down this

749
00:38:32,920 --> 00:38:36,440
path because It's a tale as old as time. And uh,

750
00:38:36,920 --> 00:38:39,159
you know, the one thing is how quick I don't know,

751
00:38:39,199 --> 00:38:41,280
because they're in such a dominant market position.

752
00:38:41,480 --> 00:38:43,519
Speaker 1: Yep, but your one phone.

753
00:38:43,519 --> 00:38:46,840
Speaker 4: You're one company coming up with a phone and an ecosystem,

754
00:38:47,000 --> 00:38:55,039
app access or ecosystem to rival Apple. And and I

755
00:38:55,119 --> 00:38:57,719
think Apple could get flipped over rather quickly.

756
00:38:58,159 --> 00:39:01,039
Speaker 1: I think that would be so sad. You can't see this,

757
00:39:01,159 --> 00:39:04,159
but this is my iPhone eight, complete with the electrical

758
00:39:04,199 --> 00:39:06,800
tape covering up the crack in this top of the screen.

759
00:39:07,280 --> 00:39:10,599
Some more down here, and finally I found an app

760
00:39:10,639 --> 00:39:12,519
that won't support this because they're not going to put

761
00:39:13,079 --> 00:39:16,280
iOS or seventeen on this, So they're trapping me at

762
00:39:16,280 --> 00:39:19,679
sixteen to five. I use this phone because it's small,

763
00:39:20,159 --> 00:39:22,320
and I don't like the company, so I don't want

764
00:39:22,320 --> 00:39:25,559
to give them more money. And yes, they've trapped me

765
00:39:25,840 --> 00:39:28,599
because but all my music and all and I get that.

766
00:39:28,679 --> 00:39:31,320
And that's the walled garden thing. And I'm telling you,

767
00:39:31,400 --> 00:39:33,760
I worked at Microsoft when they were in the same

768
00:39:34,800 --> 00:39:40,360
mental position, and I remember exactly hearing this from big

769
00:39:40,400 --> 00:39:43,960
time execs. I'm talking like CORP SVPs yep. Where are

770
00:39:43,960 --> 00:39:44,440
they going to go?

771
00:39:45,719 --> 00:39:45,920
Speaker 4: Yep?

772
00:39:46,079 --> 00:39:46,960
Speaker 1: Where are they going to go?

773
00:39:47,639 --> 00:39:50,559
Speaker 4: They always go somewhere though, right right.

774
00:39:51,039 --> 00:39:54,039
Speaker 1: I remember people saying when I started to see the

775
00:39:54,679 --> 00:39:58,000
earbuds white earbuds, when there were the iPods in New York,

776
00:39:59,000 --> 00:40:01,159
and I was like, wow, they're everywhere. And I said

777
00:40:01,159 --> 00:40:03,679
something to a VP about do you notice all those

778
00:40:03,719 --> 00:40:07,360
iPods that they're white? Because yeah, why is that? I go,

779
00:40:10,000 --> 00:40:12,760
why is that? Because no one walks around with their

780
00:40:12,840 --> 00:40:15,880
music player showing it to everybody. Yeah, but only Apple

781
00:40:15,920 --> 00:40:18,360
thought of the white headphones or that's not going to

782
00:40:18,400 --> 00:40:19,039
make a difference.

783
00:40:19,960 --> 00:40:22,840
Speaker 4: No, it signifies that you owned an iPod, right.

784
00:40:22,760 --> 00:40:26,440
Speaker 1: It's an ad Right, I want an iPod too, because

785
00:40:26,440 --> 00:40:30,039
and now it's just multiplies yea. And Microsoft was in

786
00:40:30,119 --> 00:40:34,320
this age of arrogance. They couldn't possibly see that they

787
00:40:34,320 --> 00:40:36,519
were getting out innovated by Apple on this front on

788
00:40:36,559 --> 00:40:40,800
the phones. And I remember when Bomber put the word

789
00:40:40,840 --> 00:40:43,480
out we got to kill the iPod, and I was

790
00:40:43,519 --> 00:40:48,159
just laughing, you're five years late, Steve, Yeah, right, yeah, yeah.

791
00:40:48,199 --> 00:40:50,320
Speaker 4: And they're and not only that, but just dealing with

792
00:40:50,360 --> 00:40:52,960
them in other circumstances. They just they're not a very

793
00:40:52,960 --> 00:40:56,880
smart company. They they're just not like that VR headset

794
00:40:56,880 --> 00:40:59,559
that they launched. We were looking at that going that's

795
00:40:59,599 --> 00:41:02,280
gonna be bomb, and it was. And they were no surprise,

796
00:41:02,360 --> 00:41:04,800
why because we had experience and we've done due diligence

797
00:41:04,800 --> 00:41:05,519
in that industry.

798
00:41:06,440 --> 00:41:09,719
Speaker 1: So Zuckerberg said the same thing though, right, Oh yeah, I.

799
00:41:09,639 --> 00:41:12,159
Speaker 4: Mean Zuckerberg said the exact same thing and just said

800
00:41:12,239 --> 00:41:16,800
that basically accused them of being anti competitive and monopolistic

801
00:41:16,840 --> 00:41:20,320
without using those same words. But in that conversation you

802
00:41:20,320 --> 00:41:22,400
brought up something that I think is even more interesting.

803
00:41:22,920 --> 00:41:25,039
When we were talking about Zuckerberg, you said, you know,

804
00:41:25,079 --> 00:41:28,880
has he been red pilled? Yeah, and it certainly sounds

805
00:41:28,920 --> 00:41:31,519
like that, right, And I think there is an element

806
00:41:31,519 --> 00:41:34,719
of that. But I had a really fascinating conversation this

807
00:41:34,800 --> 00:41:37,760
last Friday night. I was out to a dinner with

808
00:41:38,719 --> 00:41:41,000
There's about ten of us at this dinner, and all

809
00:41:41,039 --> 00:41:43,000
of us were in the industry managing money. And we

810
00:41:43,159 --> 00:41:46,880
got together at a dinner friends and associates, you know,

811
00:41:46,880 --> 00:41:49,320
we get together probably we do these dinners a couple

812
00:41:49,400 --> 00:41:51,360
times a year, you know, just to share ideas and

813
00:41:51,400 --> 00:41:53,159
hear what other people are thinking of that kind of stuff.

814
00:41:53,719 --> 00:41:56,800
And one of the guys there was the guy who

815
00:41:56,920 --> 00:42:00,800
about as of about five years ago, was the guy

816
00:42:00,880 --> 00:42:04,039
that was the head of Peter Teal's personal hedge funds.

817
00:42:04,079 --> 00:42:08,199
So he managed Peter Teal's personal money, worked hand in

818
00:42:08,199 --> 00:42:12,760
hand with Teal for several years, and we started getting

819
00:42:12,920 --> 00:42:15,559
we started going down that conversation and we were talking about,

820
00:42:15,599 --> 00:42:17,480
you know, because Peter Teal would be one that people'd

821
00:42:17,480 --> 00:42:19,320
say has been red pilled as well. For those of

822
00:42:19,360 --> 00:42:22,280
you that don't know, Peter Teal founded Palenteer. He founded

823
00:42:22,320 --> 00:42:26,960
PayPal with Elon Musk, you know, prominent guy in one

824
00:42:26,960 --> 00:42:30,039
of these Silicon Valley giants, probably worth ten to fifteen billion,

825
00:42:30,199 --> 00:42:36,079
something like that. And I said to him, I go, Mike,

826
00:42:36,719 --> 00:42:41,119
are these guys you know? Are they are? They like

827
00:42:42,000 --> 00:42:46,679
sociopaths and narcissistic meeting The only thing they care about

828
00:42:46,679 --> 00:42:52,119
his money and power. And he goes, no, he said,

829
00:42:52,559 --> 00:42:56,719
they have other concerns. You know, they're not They're more

830
00:42:56,760 --> 00:43:00,639
altruistic than that. But he goes, what they what they

831
00:43:00,719 --> 00:43:06,400
do do is they always believe they're right. They always

832
00:43:06,480 --> 00:43:11,119
believe they're morally justified, and they think they've got all

833
00:43:11,159 --> 00:43:13,320
the right ideas and they think they're doing it for

834
00:43:13,360 --> 00:43:15,400
all the right reasons. He goes, they do not question

835
00:43:15,480 --> 00:43:19,440
their own motives. And he goes so. If he goes

836
00:43:19,480 --> 00:43:23,599
so everything Peter Thiel says that he stand. Does he

837
00:43:23,679 --> 00:43:27,599
believe that, yes, but he also believes it unyielding, meaning

838
00:43:27,760 --> 00:43:30,599
he will not question himself. These guys think they're gods

839
00:43:30,599 --> 00:43:34,079
of the universe, and it's scary. That's scary. And it

840
00:43:34,119 --> 00:43:36,079
was just interesting to hear it from his perspective because

841
00:43:36,079 --> 00:43:39,000
he likes him personally. They had a good working relationship.

842
00:43:39,199 --> 00:43:41,960
But it was just, you know, I was trying to

843
00:43:42,000 --> 00:43:45,519
figure out, are these guys do they mean what they

844
00:43:45,519 --> 00:43:50,119
say or are they just speaking to get the desired

845
00:43:50,400 --> 00:43:53,199
you know, what they want? Is it? Is it totally

846
00:43:53,239 --> 00:43:56,039
self serving or is this somewhere in the middle. Do

847
00:43:56,079 --> 00:43:58,559
they believe some life? And what he said basically was

848
00:43:58,880 --> 00:44:03,960
it's further towards the self serving, But they they don't.

849
00:44:04,280 --> 00:44:09,159
It's not just blindly about money, but usually that's the

850
00:44:09,239 --> 00:44:12,199
underlying driver, which is odd for people that are that rich,

851
00:44:12,280 --> 00:44:14,440
Like you know, if you're worth twenty billion, how does

852
00:44:14,440 --> 00:44:16,880
another two billion change anything for you? Right, it doesn't,

853
00:44:17,800 --> 00:44:21,480
there's no difference in that. Right. But what he said

854
00:44:21,519 --> 00:44:25,760
to is, they do not they do not question their motives.

855
00:44:26,000 --> 00:44:29,679
They do not question their own goodness. They do not

856
00:44:29,960 --> 00:44:34,000
question their ability to make bad decisions and that and

857
00:44:34,000 --> 00:44:36,320
one of the biggest reasons for that is they haven't

858
00:44:36,320 --> 00:44:38,639
made a lot of them right, meaning some of the

859
00:44:38,679 --> 00:44:41,239
biggest calls in their life they've gotten right. And what

860
00:44:41,280 --> 00:44:44,559
they've done is they've confused that thinking that they're infallible

861
00:44:45,000 --> 00:44:47,159
when yeah, they're brilliant. But you know, like you and

862
00:44:47,239 --> 00:44:50,000
I both know, and anybody that's run a successful business,

863
00:44:50,000 --> 00:44:52,159
if they're honest, will tell you this, Yes, there's a

864
00:44:52,159 --> 00:44:54,639
lot of things that we did to make that success happen,

865
00:44:54,920 --> 00:44:57,840
but there were also fratuitous, lucky things that happened along

866
00:44:57,880 --> 00:45:02,360
the way. It's impossible any successful entity will tell you that,

867
00:45:02,400 --> 00:45:04,719
whether it's a sports team, a company, a political party,

868
00:45:04,760 --> 00:45:06,360
whatever it is, you got to get things to roll

869
00:45:06,400 --> 00:45:06,840
your way too.

870
00:45:06,880 --> 00:45:09,079
Speaker 1: So Zuckerberg's not going to be a guy who's going

871
00:45:09,159 --> 00:45:13,440
to sit and be introspective and self reflective saying, well,

872
00:45:13,519 --> 00:45:16,000
how come I gave into the government when they told

873
00:45:16,039 --> 00:45:19,079
me I had to take down truthful information about COVID.

874
00:45:19,119 --> 00:45:21,199
He's not going to spend five seconds in that. It's

875
00:45:21,239 --> 00:45:23,440
going to be I was right, I did the right thing,

876
00:45:23,719 --> 00:45:26,679
and now I'm doing the right thing. I'm talking about

877
00:45:26,719 --> 00:45:27,960
it now, this is the right thing.

878
00:45:28,440 --> 00:45:30,480
Speaker 4: And they're gonna play to the audience too, right. I

879
00:45:30,480 --> 00:45:33,199
mean there's like they're you know, it's not it is not.

880
00:45:33,679 --> 00:45:36,840
Basically what I was saying is I was like, are

881
00:45:36,079 --> 00:45:40,679
are any of these guys altruistic? And Mike was just like, no, no,

882
00:45:41,519 --> 00:45:43,039
not in the way that you and I think of it.

883
00:45:43,079 --> 00:45:45,440
He goes there, he goes again. I've got no complaints

884
00:45:45,480 --> 00:45:47,719
about Til. He was great to work for. I like

885
00:45:47,840 --> 00:45:51,199
him personally, fair guy. But he goes Do they believe

886
00:45:51,199 --> 00:45:54,159
they're God? Do they believe they're infallible? Do they believe

887
00:45:54,199 --> 00:45:54,599
they're right?

888
00:45:55,719 --> 00:46:01,280
Speaker 1: These are my my Silicon Valley moral the establishing quotes.

889
00:46:02,639 --> 00:46:08,239
Number one. I'm at a company that had never turned

890
00:46:08,239 --> 00:46:12,239
a profit, that wasn't going to turn a profit. The

891
00:46:12,320 --> 00:46:16,280
CEO was buying a helicopter despite having never turned a profit.

892
00:46:16,360 --> 00:46:19,840
He was buying one because Steve Jobs had one. They

893
00:46:20,079 --> 00:46:25,079
had lunch. I went and they invited me to lunch.

894
00:46:25,079 --> 00:46:27,239
He was doing business with these guys, so I got

895
00:46:27,239 --> 00:46:29,239
the lunch with them. They had a live lobster tank.

896
00:46:29,440 --> 00:46:32,800
Was the lobster lunch right, Yeah, live lobster they're pulling

897
00:46:32,840 --> 00:46:37,280
lobsters out of tanks. They're making fresh omelets they had

898
00:46:37,639 --> 00:46:41,320
brought in. People were picking herbs off of the plant

899
00:46:42,000 --> 00:46:46,159
that they'd carried in in planters. Did you want to banana?

900
00:46:46,159 --> 00:46:49,800
Because we have anana tree? And I said, this is

901
00:46:49,800 --> 00:46:51,480
his dirut quote. I said to the CEO, So what's

902
00:46:51,480 --> 00:46:55,960
the occasion? What do you mean? Well, I mean this

903
00:46:56,039 --> 00:47:00,760
is pretty amazing food. A work hard, play hard? Okay?

904
00:47:01,480 --> 00:47:06,519
That one? And then Museum of Technology in San Jose,

905
00:47:06,639 --> 00:47:10,480
California getting ready to have a Draper Fision Servisen company

906
00:47:10,519 --> 00:47:13,880
meet up or all of US CEOs, tim CEOs and

907
00:47:13,920 --> 00:47:16,239
the other guy's CEOs got to present their companies and

908
00:47:16,239 --> 00:47:20,559
meet other CEOs. Networking. I'm walking around. I talked to

909
00:47:20,559 --> 00:47:22,599
a lady in a ten thousand dollars cocktail dress, which

910
00:47:22,639 --> 00:47:24,199
I learned later from someone who was there, said that

911
00:47:24,280 --> 00:47:29,079
dress cost ten thousand dollars and she's eating mashed potatoes

912
00:47:29,119 --> 00:47:34,599
and gravy out of a very expensive martini glass. And

913
00:47:34,719 --> 00:47:38,280
she said to me, and I quote, I would really

914
00:47:38,320 --> 00:47:39,880
like to help poor people. I just don't know where

915
00:47:39,880 --> 00:47:42,760
to find any.

916
00:47:42,800 --> 00:47:44,559
Speaker 4: Are you talking about that bower clunch you attended? A

917
00:47:44,559 --> 00:47:44,840
couple of.

918
00:47:46,559 --> 00:47:48,519
Speaker 1: Well, I didn't want it. I didn't want to name

919
00:47:48,559 --> 00:47:49,239
any names.

920
00:47:49,599 --> 00:47:51,920
Speaker 4: Yeah, I mean we live lobster. We just refer to

921
00:47:51,960 --> 00:47:54,880
it as the aquarium, right, matter of fact, I got

922
00:47:55,239 --> 00:47:58,559
just lunch. Yeah yeah, bring in that tale.

923
00:47:59,599 --> 00:48:02,920
Speaker 1: I want to still twitching. But she said that in

924
00:48:02,960 --> 00:48:05,840
the presence of waiters and waitresses who are earning minimum wage.

925
00:48:07,639 --> 00:48:12,039
So I totally agree with that assessment. And if only

926
00:48:12,400 --> 00:48:17,440
there was a biblical quote about treasure, I mean there's

927
00:48:17,519 --> 00:48:20,239
not because God never said anything about treasure.

928
00:48:20,119 --> 00:48:23,440
Speaker 4: Or oh it's quite a few actually.

929
00:48:23,159 --> 00:48:25,840
Speaker 1: Yeah, did he talked about money a lot. Do not

930
00:48:25,880 --> 00:48:28,440
stirre up treasure on earth where thieves and moss can

931
00:48:28,480 --> 00:48:33,239
get at it, but treasure in heaven. Right, that's the

932
00:48:33,360 --> 00:48:35,639
paraphrase the last part. I always appreciate you coming on,

933
00:48:35,719 --> 00:48:37,480
my brother, Thank you so much. Say hello to the

934
00:48:37,519 --> 00:48:38,639
beloved bypox.

935
00:48:39,320 --> 00:48:40,920
Speaker 4: I will do so, thank you, sir.

936
00:48:41,039 --> 00:48:43,400
Speaker 1: I'll say well, I'll say hello to my white family,

937
00:48:43,440 --> 00:48:45,920
the bitter clingers that they are well.

938
00:48:46,039 --> 00:48:50,119
Speaker 4: Yeah, and please communicate to your wife that you know

939
00:48:50,199 --> 00:48:57,280
that she needs to be more constructive. No. No, The

940
00:48:57,360 --> 00:48:59,119
reason I'm telling you that is because I think that

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will probably go over just as good with her as

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it would.

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Speaker 1: Mine, got it?

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Speaker 4: So yeah, have fun with that one. Let me know

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how that goes.

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Speaker 1: This is Todd Herman Show. Please go, be well, be

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strong and be kind to Please make every effort to

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walk in the light of Christ.