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Balaji Srinivasan: The COLLAPSE of the West – Why AI, Bitcoin & China Will Win | Peter McCormack

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The world is undergoing a significant geopolitical and economic rebalancing, shifting power away from the West (particularly the US and UK) towards Asia, driven by technological advancements (AI, crypto) and China's manufacturing dominance. This transition is characterized by increasing polarization within Western nations and a decline in their global influence, necessitating a strategic re-evaluation of individual and collective futures.

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recent media that portrays like a rich

non-western country. But for the most

part, you don't see that kind of media.

And the reason is because it's

depressing to people in the west who are

seeing their living standards declining.

They don't want they want to see

escapism and they want to see superhero

movies like you know clocks watches used

to say like New York, London, Tokyo. You

know they were like they sold watches in

the ' 80s with those three. Now that

would be I I think in a few years if

this Mani for example wins in New York

it'll be Miami, Dubai, Singapore. Uh

even though the colors are reversed,

China disrupted red America and the

internet disrupted blue America. This is

only set to go further in the next 10

years because the internet is doing AI

and crypto which are going to take over

all media and all money. China is doing

robots and drones. So, they're going to

take over all manufacturing and all

military because China has already won

the war. Like, you can't fight a war

with China because they make all the

parts. America was the center of the

world in the early 2000s and China and

the internet are these sort of barbarian

powers kind of growing either side. So,

the fall of the USSR is the closest

parallel I think within our lifetimes to

what is going to happen 2024, 2025 plus.

I think you need to figure out where you

Baji. >> Hi,

>> Hi,

>> sir. Good to be here.

>> Yeah, good to see you. Um, okay. Are we

uh witnessing the end of Western civilization?

civilization? >> Um,

>> Um,

as we know it and uh here's why I say

that. There's actually a graph which you

can use to kind of anchor everything.

All right, I'm going to go right into a

reference. Right. Okay. So, this is the

uh Oops. Let me move this over a little

bit here. This is the

GDP geocenter graph.

graph.

If you look at this, this is one of a

few graphs I think of as like one of the

most important. And if you can see that

graph, okay, this is showing, can you

see that from over there? Yep.

>> Okay. So, that is showing that for

thousands of years, the global economy's

center of economic mass was essentially

in Eurasia. That doesn't mean it was

like literally in Central Asia. What it

means is that if you average roughly

China's economy, Japan, Southeast Asia,

India, Middle East, Europe, you get

something that's roughly in the middle

of Eurasia. And that's why Marco Polo

sought out China. That's why Columbus

sought out India. That's why the Mongols

and the Huns were at rough military

parody with uh Europe and actually won

wars against them. That's why the Arabs

were able to win uh you know and conquer

Andalusia and so on and so forth, right?

So there's rough military economic

parody across Eurasia and um then with

the advent of the industrial revolution

the west got far ahead and so the global

economy shot out as you can see in this

graph all the way to Europe and then

with all the new wonder weapons they all

beat each other's brains in you had

world war I world war II and when all

the dust settled and Japan had been

nuked and uh Russia was communist and

India was socialist and Eastern Europe

was smashed to bits And you know,

central Europe was blown up and even you

know the UK was bombed. When everybody

else was blown up basically you had 1950

which was peak westernization, peak

Americanization, peak centralization,

the minimum number of jurisdictional

entities that had ever existed before in

human history because everything had

coalesed into these geig states like 300

million of the Soviet Union, 300

million, you know, like a billion in

China, a billion in India, all this kind

of stuff had happened, right? All these

things had coalesed these giga states

that all beat each other up and uh then

for about 40 years that continued. Then

the you know the Soviet Union fell in

1991 and since then as the Soviet Union

fell, communism and centralization fell

in its classical sense and as countries

became capitalist again Eastern Europe

uh India are you know China as well

where they became pragmatically

capitalist even if they kept the label

communist and Southeast Asia Vietnam is

now effectively capitalist even they

call themselves communist. the world

economy rocketed back out to Asia much

faster than it had been there, right?

And so this took basically thousands of

years, right? This took hundreds of

years and this happened in tens of

years. Okay? What that means is that

every institution that was founded in

1950 or even you know post 1991 like the

UN, the World Bank, um basically the

so-called postwar order is obsolete

because the money isn't there. The power

isn't there. It isn't in the west

anymore. And I can show many more charts

like this, but this is the underlying

driver is this U curve. the world is

actually reverting back to what it

looked like before 1950 and so the

entire MAGA movement and also build back

better that all thinks of 1950 as the

way things are supposed to be right the

because that the post-war order it

basically says that's the year zero the

starting point for the current

establishment that's how things are

supposed to be that you know in America

you had a guy who didn't have a high

school education and he could support a

wife and a kid and and you know multiple

kids and a home and that's like how

things are supposed to be and that was

taken from us, right? That's like what

drives a lot of the sentiment in America

today, right? And I'm not saying that

that you know there couldn't have been

better management. There could have been

part of it is just internal you know

dumbness that that happened. for sure

there's there's something to but it's

also the fact that that guy who is smart

in Poland or in China or in India or in

Eastern Europe or whatever um was dying

in a gulag or getting nuked or you know

just suffering under communism or

socialism and now they can actually

compete in the global economy. So of

course you know that high school grad is

going to face competition right global

economic competition. And so because of

that if you put all that together the

relative share of the western pie was

like absolutely maximal 1950 to 1991 and

now it's declining. Okay so it's

declining in relative terms. Just

decline in relative terms though might

not be so bad because you know you can

for example let's say um IBM has

declined in relative terms versus

Microsoft has declined in relative terms

versus Google but it's not out of

business it still makes money it still

pays its people yeah it's losing some

talent but it's not dead yet right um so

decline in relative terms is not

necessarily the end of the world the

problem is there's also in my view going

to be a decline in absolute terms should

I should I say why

>> okay so

>> well firstly so what what you're saying

here is it's really just a rebalancing.

>> It's a rebalancing. That's right. And so

the issue is though that without the

long lens of history, right? There's

another graph for example that uh let me

pull that up here. So here's another graph.

graph. >> Okay.

>> Okay.

>> So that is 2,000 years of economic

history in one chart. Right? And that

shows that essentially India and China

were basically most of the world economy

back around the time. I mean the Roman

Empire was big but these these had

always been Geiga states, right? And to

support such huge populations, they

always had to have very complex

economies and so on. They may have had a

lower per capita income. That's argued

by various historians, but there was

something that was working there to

support such massive populations, right?

There was fairly advanced social

technology or what have you. They had

they had something going on, right? And

then with the the this axis over here,

by the way, it's not uniform because

that's like a thousand years, that's

like 500 years, this is like 10 years,

and so on and so forth, right? So the

the x-axis is not uniform. It's time

dilated. This just the points where uh

the you know GDP has been estimated but

essentially this is like peak

westernization when India and China are

basically nothing and now you can see

them coming back very very quickly.

Right? Asia coming back quickly and the

US, UK, France, Italy, Germany all

declining. And so this is kind of what

people think the natural state of the

world is but it's declining over here

and they're feeling that decline. Right? M

>> there's another version of this graph

that I'll show you which is um basically

the G7 nations have just been declining

in their GDP percentage of the world and

BRICS has been rising and by bricks it's

really China and India and to a lesser

extent Russia and to some extent Brazil

not really South Africa but basically

that's that the flipping has happened

right most of the world economy when you

and I were growing up it it was like

this it was like 45 to you know 15 or

something like that right but this has

been changing very rapidly and the thing

is whenever there's something that's

changing very very rapidly unless you're

constantly monitoring it your

understanding of that is out of date

right so unless you're constantly

sampling Asia unless you're constantly

sampling Dubai and Riad unless you're

constantly sampling these various

jurisdictions it's like a fastmoving

object right if a ball is just rolling

very slowly then you can look at it look

away look back and it's basically in the

same location but if it's being thrown

really fast. If you look at it and you

think it's here, but and then you you

look back, it's like o over there, it's

moving much faster, right? So, lots of

these economic trends are just moving

zip like this. And in the absence of

like Hollywood movies and western media

portraying the rise of uh the east, the

the one exception of that to that by the

way is maybe um this this thing called

Crazy Rich Asians. You know, Right.

That's like the one exception where it's

like recent media that portrays like a

rich non-western country, right? But for

the most part, you don't see that kind

of media. And the reason is because it's

depressing to people in the west who are

seeing their living standards declining.

They don't want they want to see

escapism and they want to see superhero

movies, right? They don't want to see

like how good Dubai is. They don't want

to see how much Southeast Asia has

improved. They're basically still in

denial about China. They're still

actually in denial even about I mean if

they're in denial about China, they're

denial about the the rise of India and

so on as well, right? They're basically

in denial about their stata status in

the world and that's at different stages

in different countries. Australia is

probably the least in denial. You know

why? Because they're in Asia, >> right?

>> right?

>> Right. And much of their economy is

digging things out of the ground and and

sending it to China. I actually think

you know in the 20th century the the

Chinese world was mostly destroyed by

you know what happened with communism in

in you know the uh in the on the main

Chinese mainland but there were pockets

of Chinese culture that survived Taiwan,

Hong Kong, Singapore and that showed

that Chinese people were actually not

barbarians and in fact those were that

was the light of civilization that

allowed the reboot of mainland China

because um Taiwan was like a threat to

mainland China. Hong Kong was how they

set up Shenzhen with Denghiaing and um

Singapore was like a part of the model

for mainland China, right? So in the

same way, I think the Anglo-American

world will continue in Australia and New Zealand.

Zealand. >> H

>> H

>> like I think it's melting down in the

UK, Canada, and America. But I think

Australia and New Zealand are sort of

airgapped enough and that they so for

example one of the things is in

Australia because they're digging things

out of the ground and sending them to

China they have less bluecollar um

dissatisfaction right there's good jobs

for bluecollar men which is not the case

in America where it got

de-industrialized and so and so forth.

So Australia has risen with China or the

Australian blue collar has risen with

China. The the equivalent of the red

Americans in in Australia, right? Red

collar if you want. Um whereas in

America it's declined with China, right?

So Australia and New Zealand have a they

also don't have the illusion that

they've got the world's most powerful

military or the reserve currency. They

weren't told all the time that they were

global number one forever and ever. So

they have a somewhat realistic picture

of things. And there's other things I

can show where they have maybe the best

debt to GDP ratio, better than the G7.

Um, they're also in an Asia time zone.

So that I think is underestimated

because it means that the controversies

of America that Canada is highly attuned

to and is dealing with in real time.

There's a 12-hour air gap. So Australia

is only waking up when that's kind of

lost some of its energy and they're more

attuned to the Asia time zone. I think

that shouldn't be underestimated in

terms of an air gap. Go ahead.

>> Yeah. No, no, it's interesting you say

that. Um, you know, when I was when I

was coming over, I spoke to Danny, my

old producer, and he's like, "Oh, you

might as well come to Australia. It's

not far." Like, so I hadn't I hadn't

really thought that through.

>> Yeah. Also, if you look at the

millionaire migration map, like um

here's another one.

>> I mean, we saw a horrific one this week

where the UK is now leading >> Yes.

>> Yes.

>> 16 and a half thousand millionaires.

>> Yes. And so basically the UK is losing

millionaires but Australia is still

gaining them,

>> right? So Australia, Singapore and the

UEE are punching way above their weight

in terms of millionaires. So the Anglo

world continues down under.

>> This has been updated. So we were behind

China. We were number two. The updated

chart is now we're ahead 16 and a half

thousand. We're losing a thousand a month.

month.

>> Yes, that's right. And that's

unfortunate. Um it means basically that

London is no longer the Have you heard

the acronym EMA?

>> Yeah. Yeah, of course. Yeah.

>> Yeah. So that's like a tech kind of

acronym for like Europe, Middle East,

you know, North Africa.

>> So the the center of finance in EMA

used to be London and now it's Dubai.

And the center in in Apac was arguably

either Tokyo or Hong Kong like you know

clocks watches used to say like New

York, London, Tokyo. You know they were

like they sold watches in the 80s with

those three. Do you remember that? Right.

Right.

>> Of course. So now that would be I I

think in a few years if this Mandani for

example wins in New York it'll be Miami,

Dubai, Singapore,

>> right? The capital is a capital will

move right so because you know if you

have full communism coming to New York

or whatever um capital of capital will

move to uh Miami also has other things

going for it where it's the capital of

Latin America as well. It's like the

Singapore of Latin America. And my view

is there's actually only three locations

in the world now which are um basically

same office, same time zone and around

the world.

>> So in a sense like Sweden is closer to

Cape Town than it is to um I don't know

Moscow because it's kind of the same

time zone or very close, right? Uh and

so even you know like the longitudinal

striping of the world is different than

the latitudinal striping which is how

countries used to be organized. Like it

used to be that we grew crops of a

certain kind at this latitude and that

was a way to organize society. But now

if you're organized by the internet

longitudinal time zones may be more

important because people are

synchronized on the same time zones and

so you have more countries that look

like Chile and are vertical as opposed

to horizontal. This is something there's

a guy Corey Doctoro. He's, you know, he

definitely doesn't agree with me on many

political things, but he had a a book a

long time ago called, I think, Eastern

Standard Tribe, which was about this

kind of thing, like vertical

organization rather than horizontal

based on the fact that same time

zonesing. Anyway, coming back. So, um,

the Anglo world, I think, continues down under,

under,

>> uh, which, you know, that sounds

apocalyptic or whatever, right?

>> But I mean, so here's another piece of

it. Um, okay. So, let's say there's

decline in relative terms, right? All

the numbers show this is a, you know, as

an investor, I'm about the exponential

and the individual.

>> This is why Ray Dario has moved all his

money east.

>> Yes, that's right. Um, and so the the

exponential is kind of like a trend

that's like a structural trend of

society. And then the individual can

sometimes reverse that trend. Okay. And

sometimes those guys go together.

Sometimes the individual starts

exponential, sometimes they reverse

exponential. So for example, here is uh

what Chinese FDI looked like going into

the US. It was this humongous thing that

was going to seemingly take over.

Okay? And then Trump took over and he

just crashed that.

>> Right? So once in a while this was this

was really growing exponentially like

this going into 2016 and then it just

fell off a cliff. Right? So that's a

good example of an individual turning

over an exponential. Another is Altman

starting the exponential for AI, right? Um

so why do I say that? Well, I'm going to

give a bunch of trend lines and then you

can ask whether some great individual

could overturn that exponential and put

in a different direction, right? Because

that is possible still based on the

current trend lines. Here's what I would

extrapolate. Um, one of the things

that's happened is, uh, essentially

around 2010, China flipped US manufacturing.

manufacturing.

Okay. And this graph,

it's funny. I would have thought it had

been a long time before that.

>> No, it's it was it was it was very fat.

That's the thing is a lot of the present

the features of the present moment are

exponentials where they were it looked

like nothing for a long time and they

turned it on and they just crushed it,

right? And similarly, the internet

looked like nothing and then print media

was at 67 here. Let me see if I can zoom

in on this one. Essentially, US media

was at almost $70 billion in advertising

revenue and they just completely um fell

off a cliff

and the internet arose. Okay. And so the

uh so point being that China went and

disrupted uh even the colors are

reversed, China disrupted red America

and the internet disrupted blue America.

And both of those happened right around

the same time in 2010. Okay, that means

that we actually have not a two-party

conflict between red and blue, but a

four party conflict between China, red,

blue, and the internet. H okay. And it

was the loss of economic status

that led Blue America to go woke and

then push the tech lash wokeness because

when Blue America's resources were

getting constrained, they had a backlash

against internet which was all the

anti-tech stuff of the mid2010s and they

had a backlash against red which was

wokeness because they felt okay we're

under assault. We need to expand our

territory again. Right? And then with

Red America because they felt that

>> hold on is that so so we had a we lost

some journalist integrity to protect

revenue streams.

>> Of course in fact actually one way of

looking at that is if you look at the

so this

is a graph that actually shows New York

Times word usage frequency 1972.

>> Yeah I've seen this. Yeah. And then

exactly starting in 2013, they made an

editorial decision to start saying toxic

masculinity, male privilege, white

privilege, white this and that. Right?

This is not an organic thing that just

went vertical in that year.

>> They made an editorial decision to start

writing that narrative. Right? Why did

they do that? Because woke words get

traffic, right? And if you go and see

Basically, it was in the doldrums after

the financial crisis and then once they

started figuring out that wokeness

boosted their traffic, it started going

up like this, right? It's kind of sick.

Yes, it is. They basically destroyed

essentially trillions of dollars in the

social fabric to make a few billion in

ad revenue, right? Um but like so that's

like one piece of it, right?

And the other piece of it is that um

with with uh China being threatened by

the trade war over here or rather with

with the US with red America being

threatened by the trade war, red America

also felt under threat because

postfinancial crisis and then this so

and then they were being attacked by

wokeness. So they elected Trump and they

also did the trade war with China.

Right? So you can see um why does it

keep doing that? It's like I don't know

what's it. So you can see essentially

that blue America

was in conflict with internet and red

America and red America was in conflict

with blue America and China. You could

actually make a graphic of that, right?

Red America versus China is a trade war.

Red America versus blue America is

Trump. Blue America versus red America

is wokeness. Blue America versus the

internet is a tech lash with me so far.

Okay. The reason is that the internet is

going after blue America's strongholds

of media and money and China is going

after red America's strongholds of the

manufacturing and military. And this is

only set to go further in the next 10

years because the internet is doing AI

and crypto. So you're going to take over

all media and all money.

And China is doing robots and drones. So

you're going to take over all

Okay. So like and I can show graph after

graph, chart after chart, 50 charts on

on both of those. Okay. But so media

becomes AI, money becomes crypto. Of

course, Bitcoin is the core of that. But

I also mean every stock, every bond, all

of that goes on chain. Every contract,

Blue America has Delaware and it's

melting down. And so smart contracts can

be contract law on chain. That kind of

thing, right?

um and every video, every piece of text,

all this kind of stuff can rise. And

then China is doing manufacturing with

robots and it's doing the military with

drones. And there's this, you know, um

there's this backlash that's trying to

happen. One thing that's very public is

Trump with the tariffs, right? That's

not going to work. And the reason that's

not going to work is that assumes that

people need the US market. But if you

look, China is only um only about

like 15 16% of its revenue comes from

trading with North America.

>> Essentially in 2015, it was much more um

like you know nervous about that, right?

And uh so it was much more nervous about

the revenue streams in 2015 because the

trade war was a surprise and then it

intentionally diversified with Belt and

Road and so on to reduce its dependence

on America. So the tariffs assume that

China gets all its money from America.

But let's even assume that drops by 50%

which is a lot right? It's only 8%.

>> It's only 8%. So China's basically you

know you know the thing is the US is

harming also the US is not simply trying

to tariff. China is trying to tariff.

Vietnam is trying to tariff all these

countries and 45% tariffs don't bring

back the economy of 1945. It's like a

magical thinking type of thing. It's

it's essentially thinking Americans

don't have to sacrifice anything. We can

just push a button at the policy level

and therefore the rest of the world will

change. Um and it's also doing something

where all these neutral countries like

Vietnam, Malaysia and so on and so forth

were um in in a swing vote category and

now they are in China's camp because

what happened right after this is like

Vietnam got 49% tariffs, right? They

were being told for years they were on

America's side versus China. America was

going to and so suddenly they they got

all these bullets and it's basically

because um there's no I think long-term

strategic thinking. Red America thinks

that protectionism

is going to work in 2025 because they

think of the US as a market and they

also think that taxing their producers

is going to like the concept of putting

a 45% tariff or 49% or whatever it is to

encourage domestic US manufacturing is

roughly like me saying I'm going to

increase the price of your iPhone by

45%. Now you have an incentive to build Apple.

Apple.

>> Okay. It's just completely I mean in a

sense you do. Yeah. And now you have an

incentive to build apple, but it's

completely under like most of the time

these manufacturers just want some maple

syrup. They don't want the whole maple tree.

tree. >> Yeah.

>> Yeah.

>> And if you were actually serious about

what's called import substitution, what

you do is you'd analyze the whole supply

chain. You'd figure out what is being

imported from abroad. You figure out who

the local customers are. You would group

them together. And then you'd set up a

second supplier over here. And that

company needs to figure it out. By the

way, it doesn't just pop up overnight.

Like these are complicated parts.

There's a reason that that was hard to

do, right? So, um there are examples of

this. I wrote a thing on like if if you

had like a smart industrial policy. Um

see if I can find this. So, rational

industrial policy would basically take a

graph that looks like this. So, you've

got suppliers and you you're you're

actually mapping what the economy

actually is, right? And you might do

this with tax returns, for example. If

if you're actually if you're going to coersse,

coersse,

better than a tariff is just get the

information on what the economy actually

looks like. Okay? And then when you do

that, you can say, "Okay, this was like

a critical supplier that's upstream of

all of these other plants over there,

right?" And then you want to get a

US-based version of that supplier. Okay?

And you do that. There's something

called um I mean this is actually

there's a real issue where like

Tommahawk missiles from the US, for

example, the US military is made in

China. This graphic shows that. Do you

know that? No, it didn't.

>> Yeah, the US military is made in China.

It's all fake, unfortunately. Okay. So,

all these guys, their manufacturers

manufacturer is like a Chinese supplier

over here. So, China can just go like

this and they can cut off, they can

screw you. They can turn off the screws

and the nuts and the bolts, right? And

everything else in between. Everybody

thinks it's a high-end competition with

China, but they're crushing it at the

middle end and low end, right? Which are

the parts that you're not thinking

about, right? And so the middle and low

end is Go ahead. I'm just laughing at

it. It's hilarious.

>> Yeah, it's a it's it's basically the

whole thing is essentially the whole

posturing for war with China is

basically fake because China has already

won the war. Like you can't fight a war

with China because they make all the parts.

>> The humble bee, a keystone species

crucial to the survival of Earth's inhabitants.

inhabitants.

Here's how things would look if bees vanished.

vanished.

And here's how they'd look if humans vanished.

But imagine if instead we became a

keystone species by doing things the

right way, by taking responsibility for

our actions and becoming the solution.

Iron mines the world's most responsible

currency the right way

>> The problem with supply chain analysis

it's not great for media as well. It's

great to thump your fist and say we've

put a 49% tariff on this country and you

get media.

>> Yes. Exactly. But then but intelligent,

detailed, nuance supply chain analysis

will not be talked about.

>> That's right. Now, if you if you wanted

to be real about it, what you do is

Seitech was actually a consortium over

here that uh was something that did

build like a US domestic supplier.

That's when the Japanese were doing

well. And so um Americans went and got

together. It's basically like let's say

you've got 10 customers of an overseas

vendor. those 10 customers can get

together and effectively crowdfund a

domestic vendor if that makes sense

because their revenues are what are

making the overseas and then they get

that second one going and then they

switch over their purchases to it. That

is the mechanism for doing it. If you

were or and but you have to do that in

an organized way, right? Nothing good

ever happens by accident. Simply taxing

those 10 guys so they stop buying from

the foreigner is just it's magical

thinking like building is hard, right?

Banning is easy, taxing is easy,

building is hard. Okay. Is it capital

destruction as well? Massive. I mean the

thing is if when you actually look at

like an actual supply chain and how it

looks um like here's what an actual

supply chain looks like and I I say this

I have some experience with this, right?

um every supply chain that transits

across the US like let me see if I can

find you a visual of this. Um yeah okay

so this is this is a good example right

so you've got something where

um this was essentially ter it's like

it's like the internet right you have

this packet made from here and this

packet from here when you load your

website you're pulling Google Analytics

you're pulling this you're pulling that

you're pulling all this stuff and you

make a website and if you had some

bandwidth tax

where all those packets were slowed down

your entire website would load more

slowly and you might it might break your

whole revenue model or whatever

That's a rough analogy for people who've

been used to building internet

businesses. Point being that this over

here where this go the

the

so this auto supply chain thing over

here right um this is showing and I'll

This is showing what an actual supply

chain is. And if every single thing

there is taxed, right? It completely

destroys your margins because they're

not doing the math on how these like

it's self-defeating. It's it's more than

self-defeating. It's basically like you

couldn't come up with a more certain way

of completely destroying US

manufacturing capacity that remains.

Okay. And the reason is that it's like a

targeted drone strike. Zooming back out

and I'll come back to your original question.

question.

the trade war. These tariffs are not

going to work because they're not

actually reducing the barrier to

domestic American production, which

would have meant cutting regulations.

That's what it would have meant. That

would have cost nothing. That would not

have no allies would have gotten mad

about that. Instead, rather than working

on oneself, they tried to they thought

America was strong and it was the number

one market and everybody else needed

them and that other people would pay for

it or some silly kind of thing which was

forever reason they decided to go with

tariffs rather than regulations. They

they did not focus on building up their

own capacity. Okay, there's like some

anti-regulatory stuff but it's not as

much the focus as this insane trade war

has been. Okay. Um and so that is right

America's futile campaign versus China

which is just cranking out the robots,

cranking out the drones. Okay. On their

side, which has not been as much covered

is the journalists are getting

increasingly frantic about AI and

actually also Bitcoin and crypto. Okay.

The AI part is very front of mind for

them where um they are you know

obviously you know Gensler tried to stop

the Bitcoin ETFs and all that kind of

stuff. there was that whole backlash

which and we defeated him but

um meaning global crypto movement

defeated him but um

with AI less well known perhaps to many

people is that many uh uh many media

companies have unions now within the

companies that are trying to stop them

or have stopped them from using AI in

their production. Do you know this?

>> Yeah. And I've seen it also with Hollywood.

Hollywood.

>> Yeah, that's right. So they feel very

threatened by AI and they feel

threatened by crypto because AI goes

over takes away their control over media

and money. That's what blue America

feels threatened by just like red

America is threatened by China taking

away their control over uh manufacturing

and the military. But their reaction to

this is not to work on themselves. It's

not like red America unfortunately is

reducing the barrier to building robots.

They're doing some of that. It's not

zero. But they're not really taking into

account the concept that they need to be

competitive in a neutral third market

like Uruguay or uh or Saudi Arabia where

both the Chinese and American product

are on the shelf. The American product

has to win on uh cost and quality,

right? They're not thinking about that

as they're just playing defense on what

they already have. They're not thinking,

okay, how do we play to win? Right? This

is a weird turnaround because for

decades, every American that I worked

with, you know, we were thinking, okay,

how do we expand into Turkey? How do we

expand into Brazil? How do we expand it

to Japan? It was obvious that the

products we were making in America were

globally competitive. Suddenly, a lot of

Americans have flipped from thinking of

the world as their market to the world

as their competition. Hm.

>> Okay. This is this huge shift that I

only saw really by late 2024 really

jumped out where they just think that

they can't win a fair fight in the game

of global technoc capitalism. As a rough

analogy, you know, James Naymith

>> invented the game of basketball, right?

>> But it turns out the guys who invented

are necessarily the best at it.

African-Americans, Serbians, Eastern

Europeans are very, very good at

basketball, right? And in the same way

Americans invented the game of global

technic capitalism, they're the ones who

put McDonald's everywhere. They are the

ones who put the dollar everywhere. They

built free trade unions. They signed all

kinds of these, you know, free trade

agreements. Basically, they took the

mantle of the British Empire for like

global free trade. And they did all this

stuff globally. And now suddenly they

found actually the Chinese can compete,

the Indians can compete, the, you know,

Middle East, all these places, Southeast

Asia can compete. They can actually

compete really well. In fact, sometimes

they can win games, sometimes they can

win a lot of games. So they've decided

to try to tap out of that game of global

technoc capitalism that America itself

created, but

they can't because they might be able to

silo themselves off from the world, but

the game will continue just without America.

America.

>> Yeah. Because they're siloing themselves off.

off.

>> Exactly. So this is the same thing

that's happening with Blue America,

trying to silo themselves off from the

internet and from AI and from crypto.

Right. They can try to do that, but

media will continue outside them because

the productivity gain is so high. Right

now, I understand, by the way, why

there's this backlash here. I totally

get it. Right?

However, um these are structural forces

that are shrinking the pie for blue and

red America relative to the peak of

1950. And so, they're fighting each

other, but they're also fighting China

and the internet with me so far, right?

So, this is like sort of my macro model

of the world. And you can map thousands

of events to the to this kind of macro

model. It's not the only thing. There's

other things going on. There's stuff

going on on in Latin America. There's

stuff going on in the Middle East.

There's stuff going on in Japan and so

on and so forth. But this is this is one

of the primary I think like drivers of

the world economy. Basically, China and

the internet are the successors, right?

In roughly if we go back to Europe in in

the year 1900.

Um Europe was the center of the world,

right? Like civilization was in Europe.

It was England, it was France, it was

Germany. And there were these barbarians

on either side, America and Russia, that

were growing in population, but they

were considered sort of, you know, nuvo

ree or barbarian or whatever. They

weren't as cultured as, you know,

Europe, right? And then Europe beat each

other's brains in. And then when all the

dust settled by 1945, the American

capitalists and the Russian communists

literally split Europe down the center,

right? And you had West Germany and you

had East Germany. You had capitalism

versus communism, right? In much the

same way, what I anticipate 5, 10, 15

years out is that America was the center

of the world in the early 2000s and

China and the internet are these sort of

barbarian powers kind of growing either

on either side. And I think what's going

to happen is by 2035, 2040, maybe

sooner, maybe later, you have the

Democrats side with Chinese communists

and the Republicans become Bitcoin maximalists

maximalists

after MAGA maximalism, after orange man,

orange coin. But that is

>> that's quite extreme.

>> Is it?

>> Well, that's a that's a that's a

stronger polarization.

>> That's a stronger polarization. That's

right. But you can see, for example,

Gavin Newsome went and met with Chi in

in because Newsome no longer has DC. So

you need Chi, right? So he had this whole

whole

>> So he brought him to SF, cleaned up the streets.

streets.

>> That's right. But it was more than that,

right? So Nome

um Gavin Newsome went and visited China

and met with Chi. But it was more than

just visiting. It wasn't because Xi came

to to California only after Newsome went

to China. Other Democrats wanted to get

a meeting with Xi, but Gavin was able to

pull it off. And there's a whole series

of articles in Gininoa, Chinese state

media and so on, welcome more Newsomes

to come and and he said uh he's willing

to be China's long-term stable and

strong partner. >> Okay.

>> Okay.

>> Which is the opposite of what Trump is doing.

doing.

>> That's right. So basically um if you go

back to that four-party thing, red

America is getting its lunch eaten by

China. Blue America is getting its lunch

eaten by the internet. So the enemy of

red America is China. And blue America

at first tried to fight China because

they they were lukewarm. They they

weren't really that mad at China for a

long time. Then starting in 2020 to 2024,

2024,

China started contending for being the

most powerful state. So the Biden

administration really did try to stop

China, but now they've kind of conceded,

right? Democrats no longer Democrats

just want to be part of the strongest

state, right? Like that's a big

difference. Republicans care about the

nation. Democrats care about the state.

Republicans want to be part of like a

tight-knit group that grows from like

baseball and hot dogs to world

domination. But Democrats are

comfortable just being administrators of

some multithnic state. They just want a

promotion. They don't really care about

the the people. They care about the

government, right? they they identify

the government and you can argue with

that but I think there's some truth to

that right nation versus state in terms

of where their primary you know mode of

of affiliation is and so having been

them they join them right and so

democrats are now uh like for example

Tim Walls also said this you know

he said uh

this was his thing um the vice

presidential candidate China may be the

only moral authority to broker the Iran

Israel peace.

Okay, so these are not marginal figures,

right? That's walls, that's nuome,

right? Um and in general, if you look,

Democrats are more likely than

Republicans say US and China can

cooperate on key issues. And in fact, if

you go back in the past, you know, that

Democrats are like, you know, the

Atlantic has uh China was correct on

filtering internet speech, right? And um

>> it's kind of insane.

>> I know. I know. But I'm just saying I'm

showing you some of these references.

And then here's another one. This is in

the 80s like you know this is very

similar. Ted Kennedy's interaction with

the Soviets similar to Newsome and she

Ted Kennedy reached out to the Soviets

and said hey if you help me then beat

you know Reagan then I'll help you right

so in return the Soviet leader would

lend the Democratic party a hand. The

difference is now the communists, the

Chinese communists are the senior

partner in that relationship and the

American Democrats are the junior

partner. I think it's very likely. So,

for example, Newsome had this thing

where he was saying he would defy the tariffs.

tariffs.

Um, so California to defy Trump's

tariffs to allay global trade fears,

right? So Nome

has basically proposed doing a separate

deal with shei

and that's like a left populism because

if tariffs boost prices and he can get

cheap goods from China then he's

actually delivering from his standpoint

material benefit to his people of course

the cost is dependence on China right so

that is like one clear fragmentation axis

axis

can that lead to a a real split yeah

east and west America Yes. >> H

>> H

>> I mean like is it how geographical is

it? It's already there at the

ideological level. Yeah.

>> Yeah. So like if you look you know

>> I mean we see in the UK as well that the

left is going very communist. >> Yes.

>> Yes.

>> Attacks on free speech attacks on civil

liberties uh wealth redistribution.

>> Right. Now the thing is what's what's

upstream of that is the shrinking pie. >> Yeah.

>> Yeah.

>> Like if you know rising tide lifts all

boats a shrinking pie sinks all boats.

Right. Um, in a funny way though, like

the the closer you are to being

dependent on the US government, the

worse off you're going to be in what

comes. And the reason is this.

>> I mentioned like relative decline. So,

by this is just a graphic that shows,

you know, the US used to be highly

integrated in the year 1951 where

basically all the different, you know,

uh, Democrats and Republicans voted for

the same

>> bills basically. So each edge there,

each node is a Democrat or Republican,

blue or red. And an edge is if they

voted the same way on the same bill.

>> Here it shows them uh no longer they

Democrats only vote with their

Democrats. Republicans only vote with

their Republicans, right? >> Yeah.

>> Yeah.

>> And uh so I can show other graphs that

show basically total polarization, right?

right?

>> And I'm sure it's exactly the same in

the UK right now.

>> Actually, I don't know. I haven't seen

the UK graphs.

>> Well, it feels it the

>> it's probably right.

>> We always feel about one election away

from the US.

>> Fine. So then this is something which

shows for example on Twitter in 2017

blue and red were split apart like this.

Okay. So it's a totally different data

set showing that Democrats and

Republicans aren't friends. But now 8

years later it's even further because

there's been blue secession. Blues have

secceeded to blue sky and mastadon and

threads and Tik Tok and reds are on X

and Truth and and Gab. Okay? So they're

not talking to each other anymore. And

even further, Democrats no longer marry

Republicans. only 4% of marriages

between are between Democrats and

Republicans. Okay.

>> So that is Sunni vers Shiite that's like

a tribal kind of thing. That means that

these are no longer like it's not one

nation. one nation in terms sense of one

intermaring you know network which may

have some differences but they're

ultimate this is these are two tribes at

a minimum right it's not one country

it's two parties and when people say you

know you're against democracy democrats

identify democracy as voting for

democrats and when Republicans say

you're against America Republicans

identify America as red America so

Democrats are always confused when they

have a Democratic vote and 50% is going

to Republicans Republicans are also

confused when they define America as

their version of America and then 50% of

blue Americans have a complete different

vision of what America is, right? You

can't it's like being, you know, can you

be loyal to Korea? No, you have to be

loyal to North Korea or South Korea. Can

you know but what does it mean to be

loyal to America? There's blue America

and red America. They have completely

different visions of what America is,

right? Like airgapped value systems, you

know, different value systems, like

fundamentally different. They're pulling

apart further and further.

So that's like a spiritual moral digital

secession where they've already kind of

broken away. So you ask, can that lead

to a split? I think yes, things happen

in the cloud first and they're printed

out in the land like you do a Google

doc. Go ahead.

>> Yeah. So is is this downstream from the

debt problems or are the debt problems

downstream from this?

>> Uh good question. Right. So the thing

that is keeping it together right now,

Democrats and Republicans, they don't

vote for each other. They don't talk to

each other as we see. They don't even

marry each other. The one thing they do

do is they trade with each other, right?

>> And so essentially because the US has

had the reserve currency, it has been

able to paper this over by just printing

money and allowing people to have some

artificial prosperity there. Right now

let's talk about the debt. Essentially

one way of thinking about the last x

number of years is the US started as

this giant exporter. For example,

there's this amazing visual of like US

that shows

um after all the Philippines are only

the stepping stone to China.

Okay. And it shows Uncle Sam laden with

all these goods and a stereotypical

Chinese person is portrayed there and

they're just portrayed as a market that

wants bridges and trains and so on and

so forth. So the US started back then

the US was a good exporter and China was

an importer okay 100 something years

ago. So what happened was the US started

as an exporter then all countries

started to use the dollar because they

could buy goods from the US. Then by

degrees the US went from a manufacturing

power to just a pure financial power.

and uh and now it's a purely financial

power without the manufacturing because

it outsourced the manufacturing and so

on but it's also actually outsourced

even the financial part now to Bitcoin

and crypto and it's outsourced the media

part there so every piece of the

American empire has gone to either China

or the internet right and one way of

thinking about what the American

empire's business model was dollar

inflation is global taxation so once

America think of America as like a

factory worker Uncle Sam that worked his

way up to become CEO of the

And as co of the world, they control the

global economic system. For example,

it's the UN headquarters in New York.

It's the fact that even like Chinese

companies will go public in the US. It's

the fact that all these heads of state

are trained at the Kenny School of

Government at Harvard. It's the fact

that US regulators harmonize regulations

globally and there's a McDonald's

everywhere and Hollywood everywhere.

Right? The US was the center of the

largest empire ever in human history.

And the way it monetized that is dollar

inflation is global taxation. Those five

words explain a lot because a lot of

libertarians and conservatives in

America think that they're paying the

rest of the world. It's actually the

reverse. The world is being taxed to pay

for American profleacy. There's no way.

Like the thing is, if you think about

it, net it out, somebody in Vietnam is

grinding away to send these shoes over,

right? These Nikes. What do they get in

return? They get database entries. Does

it get printed dollars? Right? So the US

is producing nothing in return for those

shoes. What's it producing? It's

producing database entries. At a deeper

level, why can it do that? Because it is

the hub. It's the center of the global

system. And when it was working, the

American military, the right guarded all

the sea lanes and protected all the

trade routes and kept the peace

physically. And actually the American

left with the State Department signed

deals with 190 plus countries and did

all the diplomacy. And that's really

underestimated by the way. If you ever

done a deal

with 100 people, let alone 100 funds,

right? Imagine what that is for 100

countries, right? The American diplomats

were by far the best ever in history,

just like the American military was the

best in history. So when it was working,

when left and right worked together,

they had all the diplomacy and all the

military, all the money, all the media,

they had everything working. So every

country, even Russian and Chinese, you

know, people sent their elites to train

in America and so on and so forth,

right? This is the era that you and I

grew up. It's total total dominance.

So the thing is that the way that that

dominance was was monetized and was

dollar inflation is global taxation. And

what that meant is some some people

would hold dollars literally in bank

accounts or their multinationals hold

it. But lots of people around the world

were de facto taxed because their

countries would hold treasuries and the

US issued those treasuries or those

countries would be harmonized to US

regulations or their countries would

have multinationals operate there which

were getting dollar flows back.

Basically that business model it also

meant the US could freeze things. It

could sanction things. Anybody who's a

competitor like Russia or China or or

Iran could have sanctions and tariffs

imposed on them. the control of the

center like root power over the global

economy was this enormous enormous

enormous thing right global empire was

like you know today you have republicans

like Buchanan you know actually not

today he's been around for 20 30 years

but he says stuff like a republic

non-mpire right because he thinks that

empire was net worse for Americans right

and then you have the left which says um

this also against empire and they're

like oh America's going with all these

countries killing people, right? So,

both the the left and the right, the far

left, far right, if you will, are

against empire because these guys think

it's bad for Americans. These guys think

it was bad for the world. But I will

argue that at least for a period, it was

good for the world and good for

Americans because Americans kept the

world order. So, it was good for the

world on balance. I'm not talking about

all the blowing up and so on so forth.

And it was good for Americans because

they got a huge cut for stuff they

hadn't worked for via because dollar

inflation is global taxation. And that's

why there was this incredibly high

standard of living. Right now, what is

happening is Democrats and Republicans

are both sawing off the branch on which

they're sitting. Right? Democrats, for

example, doing the Russia sanctions, uh,

which you can argue whether they were

merited or not. But doing that

essentially catalyzed dalization in the

rest of the world. I can show graph

after graph on that, right? You've seen that.

that.

>> You've seen that, right? and Republicans

doing the tariffs and also cutting off

talent and cutting off tourist visas and

cut cutting off worker visas.

Republicans have the conception that

there's like adamantium under the Appalachians

Appalachians

like they think that the advantage of

America somehow inheres in like physical

America, right? That that it's like the

rolling hills of Appalachia and you know

the but they're wrong about that. that

there's no way the US could support its

current standard of living if it was

marked to market like if it was not able

to trade database entries for physical

goods right if it lost control over the

global reserve currency living would

drop 50 90 99% because dollar inflation

is global taxation you just cut off all

this revenue stream one way of thinking

so they're basically destroying their

business model

>> so So, is there an an an inevitability

to this?

>> Yes, I think so. Essentially, let me

just show you this. This is this article

from NPR that says how to spend 1.25

trillion in 2010. Okay? And they

actually admit this is like buying

mortgage back securities. It says, you

know, the the Fed came very close to

target. They were just 61. They bought 1

trillion249 billion 999,999

worth because the Fed has unique power.

It creates money out thin air when Suzu

the merchant decided to buy a bond. They

push button on the computer and all

money is created. Just emphasize this a

trillion dollars. Imagine if you made

iPhones for and you sold them for a

thousand bucks to a billion Chinese

people. That's what a trillion dollars is.

is.

>> A trillion dollars.

>> It's a lot of money.

>> That's a lot of money. But that's just

trillion dollars in revenue.

>> A trillion dollars in profit. Maybe

you're making 99 bucks. A,000 It's hard

to sell something for $1,000 to a

billion people. $1,000 is a lot of

money, right? $1,000 to a billion people

is a trillion dollars. That's an

incalculable like insane. And they just

pushed a button to get this. Okay. Now,

>> and they've done it many times.

>> They've done it many times. Okay. And

the reason is that that trillion dollar

print is spread over let's say 8 billion

people worldwide

as opposed to being spread over 330

million Americans.

So when you go from 8 billion to 300

million, that's a drop of more than 95%.

H okay. So you've been spreading this

print over billions and billions and

billions of people taxing the world,

right? That's what America's been doing

to pay for American living standards.

And by cutting off all the reasons that

those people would hold dollars, by

cutting off trade flows, right? By

cutting off talent flows, they want to

cut off remittances next year by taxing

remittances, right? Like they are going

to reduce their tax base by more than 95%.

95%.

What am I looking at? 300 million

Americans roughly. I get it. Over six

billion people is 5%. Right? I'm not

saying everybody in the world

contributes equally or whatever. You

know, even if even only reduce it by 80%

or 70%, even 50%, it' be a huge drop in

living standards. Right? So once we

really understand dollar inflation is

global taxation,

the last two US administrations are

intently destroying that business model.

And now think about this. Why? Why are

they intentionally?

>> They're intently, but I'm not saying

they're they're not. When I say

intently, I mean they're going about it

with a lot of energy.

>> Is this the political cycle being out of

sync with the economic cycle?

>> They when I say they're in So I should I

should clarify. Are they intentionally

doing it? They are doing it

intentionally in the sense that they

think it's going to inher to their

benefit, but it's going to inherit to

their extreme loss. Essentially, what

happened was American Empire was

camouflaged. even talking about it is

something that's not a typical thing to do.

do.

>> We, you know, all these people are like,

it's not an empire. We just, everybody

opted into it. I'm like, you don't

become the greatest empire of all time.

Like, you don't become global number one

in everything and have 750 military

bases worldwide and have the UN in New

York and the global reserve currency and

and 500 other things like that by

accident. Right? In fact, there's a book

by Steven Worerheim called Tomorrow the

World, which outlines exactly when

America made the play for empire, and it

was 1940, not 1945. You know why?

Because up until that point, they'd been

happy to allow the British to do the

expensive and tough job of empiring. But

after the fall of France and Britain

being on the ropes, the Americans

realized, wait a second, if we don't

become an empire, the Nazis will, and

they'll cut off our trade from Europe,

right? And then later, the Soviets will.

So they're like actually we have to

become an empire and we have to do it

better than the other guys did. So it

was at that point and there's a bunch of

memos that show that it was at that

point that America made the decision to

go from republic to empire

>> but now the empire is collapsing.

>> Now the empire is collapsing but it

lasted 85 years right it was basically

the greatest empire of all time. We have

to give it some props right that's the

thing is people think that you know you

need to have a like a simplistic view.

It was always better. I think on balance

west Germany was better off than East

Germany. I think South Korea is better

off than North Korea. I think that um

Hong Kong, Taiwan, Singapore were better

off than mainland China. I think in in

on balance and certainly, you know, it's

better off than Nazism and so on. So on

balance, the centrism of democratic

capitalism was better than the far right

or the far left. It was better than

Nazism and communism. We should praise

that empire because it did a lot of good

things from let's say 1940 to 1991. I

would prefer that over the alternatives.

But then after 191 after there were no

after the Soviet Union fell, Democrats

and Republicans had nothing to do but to

fight each other. Then also 1991 the

internet actually you had legalized

commercial traffic on the internet.

Before that the internet was not really

had had didn't have legal traffic. Do

you know that NSF acceptable use policy

it restricted traffic on the internet to

just academic and military use because

they said if you have commercial traffic

on the internet it's going to be all

spam and malware and porn. They're of

course right. They were right. Yeah. But

but you also got Google and you also got

amazing tech companies and you got

Bitcoin, you got all this other stuff.

So I think on net it was good. At the

same time after 1991, China really

veered from communism towards really I

mean you can say it started in 1978 but

it kicked into high gear after 1991. So

Democrats and Republicans started

fighting each other after 1991. That's

when polarization really got going. you

know, Gingrich and whatnot in in the

90s, Bill Clinton versus Gingrich and

then China and the internet started

really growing, right? And that brings

us to the present day.

>> Did did the did the fairness doctrine

the fairness doctrine play a part as well?

well?

>> That's right. So all of this has been

going on for a long time where basically

mass media, mass production,

centralizing technology all ramped going

into 1950. And then with the invention

of the transistor, you start to get

decentralization. So you have, you know,

as you mentioned, cable media and the

fairness doctrine and so on and so

forth. You have the personal computer,

you have um the internet, you have the

smartphone, you have cryptocurrency. So

1950 was the most centralized period

ever in human history that I know of,

right? Um and I think probably ever not

the Roman Empire, not the, you know,

nothing was ever as globally centralized

as that was. Basically, you had

technologies favoring massive choke

points on on power, right? And so we in

a sense the whole fairness doctrine

we're reverting back to what the world

was like in the 1800s and the 1700s and

so on with lots of different centers

like a genuinely multifarious world.

Right? The transition back though is uh

is going to be messy because um what are

Americans still thinking? They're

thinking it's going to be a golden age.

They're thinking you can build back

better. They're thinking you can make

America great again. Nobody is preparing

them. that they sort of know that

there's a decline, but nobody is telling

them, showing them these graphs. Who

would who'd accept it, right? That's a

problem. No one wants to accept a story

where they lose, you know?

>> You have if you thought through how what

the collapse looks like over what time period.

period.

>> Yeah. So, so let me explain something

else, which is that all of this is me

trying to be as neutral as possible,

seeing the world as it is, not as how I

wish it to be. Because there's all all

four possibilities are there. Good

things are happening and I'm happy

they're happening, right? Bad things are

happening and I'm unhappy they're

happening. All all these things like

like something is happening, it's good

or bad. So whether it's happening or not

is independent whether it's good or bad.

>> But you it's investor mindset, right?

>> It's the investor mindset. It's the

realist mindset, right? It's it's

because investing is just one piece of

the predicting the future. That's

allocation and that is one piece of it.

But you also need location. You need

organization. It's really preparation,

right? Yeah. Um, location is like where

do you want to be on the f like 2008 you

could just trade it, right? Because you

could just it was like a financial

thing, right? 2024 2025 plus I think you

need to figure out where you want to be

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because there's two forms of investment

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you have, your capital, your money,

whatever. There's also the investment in

your family.

>> Yes. Yeah.

>> And that's

like I say, I only groed this over the

last year or two that actually a lot of

my investments decisions are about my

children and what I want to invest in

them and where I want them to be. What

world do they need to be in and be

prepared for?

>> Yeah, that's right. So, so I think of it

as self tribe world. Yes.

>> Right. So, you have to take care of

yourself because if you're not alive, if

your health isn't taken care of, you

can't do anything. So that's just like

just you have to do that right tribe is

then your circle of concern that's your

family your friends your company your

community it can actually be quite large

right it can be bitcoiners whatever

whatever and then world is everybody

else right I think if you have self

tribe world you can you could obviously

have more gradation there you can have different buckets but that's a useful

different buckets but that's a useful way of thinking about it right and the

way of thinking about it right and the sovereign individual thesis is fine but

sovereign individual thesis is fine but really I believe in the sovereign

really I believe in the sovereign collective

collective >> right And after cryptocurrency comes

>> right And after cryptocurrency comes crypto community. So allocation is

crypto community. So allocation is cryptocurrency. That's like what you're

cryptocurrency. That's like what you're choosing, you know, for financial. But

choosing, you know, for financial. But community and identity is like what do

community and identity is like what do you identify as, right? Like after the

you identify as, right? Like after the Soviet Union fell, you couldn't identify

Soviet Union fell, you couldn't identify as a Soviet. You have to figure out am I

as a Soviet. You have to figure out am I a Russian and am I a Russian national or

a Russian and am I a Russian national or for example, am I a mathematician? I

for example, am I a mathematician? I don't really care whether I'm a Russian.

don't really care whether I'm a Russian. I'll migrate to America like Sergey

I'll migrate to America like Sergey Brin's parents or Vitalik's parents.

Brin's parents or Vitalik's parents. They they came out to the west to

They they came out to the west to Canada, right? or they became other

Canada, right? or they became other people became Estonian nationalists or

people became Estonian nationalists or people you know in Poland they became

people you know in Poland they became Catholics there all these different ways

Catholics there all these different ways of breaking away if I'm not Soviet what

of breaking away if I'm not Soviet what am I am I a mathematician am I a Russian

am I am I a mathematician am I a Russian am I an Estonian am I a Catholic what so

am I an Estonian am I a Catholic what so there's a there's a fragmentation and

there's a there's a fragmentation and decentralization of identity right the

decentralization of identity right the way I think that's going to work in

way I think that's going to work in America is you know like that the Civil

America is you know like that the Civil War movie like what kind of American are

War movie like what kind of American are you are you a red American blue American

you are you a red American blue American tech American Catholic American this

tech American Catholic American this that and the other'll be a giant

that and the other'll be a giant fragmentation to lots of different

fragmentation to lots of different hyphenated identities Okay. E unlurbus.

hyphenated identities Okay. E unlurbus. >> That was the the best and most unique

>> That was the the best and most unique moment of that film.

moment of that film. >> Yeah, that was the that was you take a

>> Yeah, that was the that was you take a step back and you go,

step back and you go, >> "Oh shit."

>> "Oh shit." >> Yeah, that's right. So, I think that uh

>> Yeah, that's right. So, I think that uh I I think that movie was otherwise

I I think that movie was otherwise forgettable.

forgettable. >> Yeah, it wasn't great. But that moment

>> Yeah, it wasn't great. But that moment was brilliant.

was brilliant. >> That's right. What kind of American are

>> That's right. What kind of American are you was you know the saying like e

you was you know the saying like e plurbusum like out of many one, right?

plurbusum like out of many one, right? That's an American saying. So, it's not

That's an American saying. So, it's not the correct Latin but eum plurbus out of

the correct Latin but eum plurbus out of one many. Right? You have the re

one many. Right? You have the re rehyenation because the thing is just to

rehyenation because the thing is just to be philosophical about this. You know,

be philosophical about this. You know, in China there's a famous book um I

in China there's a famous book um I think it's Romance of the Three Kingdoms

think it's Romance of the Three Kingdoms uh that there's a later addition to

uh that there's a later addition to this. It's it's like uh it's like one of

this. It's it's like uh it's like one of the great epics kind of like the Iliad

the great epics kind of like the Iliad or the Odyssey but for China, right?

or the Odyssey but for China, right? >> And there was an addition that was made

>> And there was an addition that was made to it that said the empire long united

to it that said the empire long united must divide, long divided must unite.

must divide, long divided must unite. That's just the cycle of history, right?

That's just the cycle of history, right? >> Okay. And an interesting thing where

>> Okay. And an interesting thing where I've been more philosophical about it is

I've been more philosophical about it is I realized this is obvious but also

I realized this is obvious but also nonobvious.

nonobvious. What's the first word in USA? United,

What's the first word in USA? United, right? What about the EU?

right? What about the EU? Union, right? How about the UAE? United

Union, right? How about the UAE? United Arab Emirates, right?

Arab Emirates, right? >> The United Kingdom. That's right. What

>> The United Kingdom. That's right. What is the formal name of India? It's

is the formal name of India? It's actually the Indian Union.

actually the Indian Union. >> Okay. The Russia is actually called the

>> Okay. The Russia is actually called the Russian Federation, right? And when you

Russian Federation, right? And when you when you look at this and you realize

when you look at this and you realize this, you're like, "Oh, actually all

this, you're like, "Oh, actually all these places, even Italy for example,

these places, even Italy for example, Gabaldi actually unified it, right?

Gabaldi actually unified it, right? Germany, Bismar, unified it. France, the

Germany, Bismar, unified it. France, the revolution unified it, right? Forming

revolution unified it, right? Forming these Union states was actually very

these Union states was actually very non-trivial. So non-trivial that that's

non-trivial. So non-trivial that that's why they put it in the name. so

why they put it in the name. so non-trivial that that's actually why the

non-trivial that that's actually why the left seeks to essentially homogenize

left seeks to essentially homogenize because that's how you get a large scale

because that's how you get a large scale group of people that can trade with each

group of people that can trade with each other, marry with each other and fight

other, marry with each other and fight together, right? Like the right doesn't

together, right? Like the right doesn't really neither the left nor the right

really neither the left nor the right really understand the left. People think

really understand the left. People think the left the left thinks the left is

the left the left thinks the left is about sharing and caring. The right

about sharing and caring. The right thinks the left is naive and you know

thinks the left is naive and you know ahistorical and and globalist or

ahistorical and and globalist or whatever, right? But really what the

whatever, right? But really what the left is about at the emergent level is

left is about at the emergent level is building scale,

building scale, right? Because you just get these

right? Because you just get these gigantic scale entities that you

gigantic scale entities that you homogenize across them and then you

homogenize across them and then you build a meta organism and you can fight

build a meta organism and you can fight with it or you can trade with it or what

with it or you can trade with it or what have you, right? So it tries to level

have you, right? So it tries to level out all these differences. Everybody's

out all these differences. Everybody's equal. I mean one way of looking at that

equal. I mean one way of looking at that is um and do I think it's working now?

is um and do I think it's working now? No, I don't think it's working, but it's

No, I don't think it's working, but it's worked previously in history. Like

worked previously in history. Like people all identify if you generalize

people all identify if you generalize the concept of left, they all identify

the concept of left, they all identify as Christians or Muslims or Italians or

as Christians or Muslims or Italians or French or British as opposed to Scots,

French or British as opposed to Scots, England, Wales, you know, Welsh and and

England, Wales, you know, Welsh and and Irish and so on and so forth. So

Irish and so on and so forth. So unification across ethnicities and

unification across ethnicities and building empire is in part of lefting.

building empire is in part of lefting. Even Genghaskhan had like a religion

Even Genghaskhan had like a religion that he used to kind of unify his his

that he used to kind of unify his his empire, right? So in a sense the left is

empire, right? So in a sense the left is unifying at the level of software and

unifying at the level of software and the right is unifying at the level of

the right is unifying at the level of hardware because the right says it's our

hardware because the right says it's our genetics it's our culture it's our

genetics it's our culture it's our language but reproduction is much slower

language but reproduction is much slower than conversion

than conversion right this is like Athens versus

right this is like Athens versus Jerusalem like it's a tension within

Jerusalem like it's a tension within western culture like is it genetics

western culture like is it genetics nation land soil blood etc or is it

nation land soil blood etc or is it religion law you know in a sense

religion law you know in a sense software versus hardware right like this

software versus hardware right like this the cloud versus land that's like a long

the cloud versus land that's like a long tension within humanity Okay. And I'm

tension within humanity Okay. And I'm I'm more on the cloud side of things. I

I'm more on the cloud side of things. I can understand the land side. A lot of

can understand the land side. A lot of cloud people can't even understand the

cloud people can't even understand the land and vice versa. I think it's

land and vice versa. I think it's worthwhile to speak both languages,

worthwhile to speak both languages, right? Um

right? Um but anyway, coming back, the issue is

but anyway, coming back, the issue is once you kind of see all these graphs

once you kind of see all these graphs and you realize dollar inflation is

and you realize dollar inflation is global taxation,

global taxation, you realize that the US cannot tolerate

you realize that the US cannot tolerate a decline from number one to number two

a decline from number one to number two because a decline from number one to

because a decline from number one to number two is a decline from number one

number two is a decline from number one to number 50 or number 100. Because if

to number 50 or number 100. Because if it loses that reserve currency then it

it loses that reserve currency then it loses its living standards. It's not

loses its living standards. It's not like it's going from like again IBM

like it's going from like again IBM >> the debt becomes realized.

>> the debt becomes realized. >> Yeah. Exactly. So so the debt becomes

>> Yeah. Exactly. So so the debt becomes something that you have to pay in

something that you have to pay in something other than something you can

something other than something you can print,

print, right? Like it actually gets marked to

right? Like it actually gets marked to market in a different way. And what is a

market in a different way. And what is a debt owed to? People like, "Oh, it

debt owed to? People like, "Oh, it doesn't matter because it owes it's owed

doesn't matter because it owes it's owed to ourselves or whatever." They'll say

to ourselves or whatever." They'll say something like that or they'll say, you

something like that or they'll say, you know, we can

know, we can What what happens is they owe for

What what happens is they owe for example uh healthare to all kinds of

example uh healthare to all kinds of seniors right they

seniors right they >> but this is your unfunded liabilities

>> but this is your unfunded liabilities 175 trillion

175 trillion >> yeah exactly that's right so when you

>> yeah exactly that's right so when you actually look at the numbers I had this

actually look at the numbers I had this whole post on this which goes through

whole post on this which goes through all the numbers of exactly how in hawk

all the numbers of exactly how in hawk the US is basically the true number from

the US is basically the true number from the 2024 financial statement of the US

the 2024 financial statement of the US government is $175 trillion including

government is $175 trillion including Medicare Medicaid social security and so

Medicare Medicaid social security and so on I can put that on screen

on I can put that on screen >> so in the UK kind of remind me we're 3.2

>> so in the UK kind of remind me we're 3.2 two trillion in debt but it's 12

two trillion in debt but it's 12 trillion in unfunded liabilities right

trillion in unfunded liabilities right remember we yeah I think I think I think

remember we yeah I think I think I think that's correct in the UK but people only

that's correct in the UK but people only talk about the 3 trillion the 100% debt

talk about the 3 trillion the 100% debt to GDP they don't talk about the

to GDP they don't talk about the unfunded liabilities

unfunded liabilities >> so an interesting thing is to take your

>> so an interesting thing is to take your tax revenue and divide it by your

tax revenue and divide it by your unfunded liabilities number right and so

unfunded liabilities number right and so the US is I think depending on you count

the US is I think depending on you count state and local it's on the order of

state and local it's on the order of like two to four trill right if you

like two to four trill right if you include state local federal um but the

include state local federal um but the total un you know debt as of a year and

total un you know debt as of a year and a half ago and it's probably increased

a half ago and it's probably increased since then is like 100x that right and

since then is like 100x that right and the issue is that what is that debt Odin

the issue is that what is that debt Odin it's not just monopoly money it's

it's not just monopoly money it's commitments right it's like commitments

commitments right it's like commitments to seniors that they're going to pay for

to seniors that they're going to pay for their healthcare right at some point

their healthcare right at some point somebody actually has to provide real

somebody actually has to provide real wheelchairs and dialysis or whatever

wheelchairs and dialysis or whatever right it's commitment to military

right it's commitment to military partners somebody has to provide real

partners somebody has to provide real guns and and so that cannot be printed

guns and and so that cannot be printed right you can't print healthcare you

right you can't print healthcare you can't print military bills you can't

can't print military bills you can't print food right um when it's on SNAP,

print food right um when it's on SNAP, you know, like nutrition things. So,

you know, like nutrition things. So, there's all kinds of people that the US

there's all kinds of people that the US government has made commitments to, both

government has made commitments to, both domestic and foreign, and it will not be

domestic and foreign, and it will not be able to keep all those commitments.

able to keep all those commitments. >> So, does it have two choices of

>> So, does it have two choices of sovereign debt crisis or hyperinflation?

sovereign debt crisis or hyperinflation? >> Those are really the same thing, right?

>> Those are really the same thing, right? But by the way, the you know, so this is

But by the way, the you know, so this is some this is a point that I made.

some this is a point that I made. >> I mean, just wipe the debt or I mean

>> I mean, just wipe the debt or I mean wiping the debt would destroy the value

wiping the debt would destroy the value of the currency.

of the currency. >> Well, okay. So, let's think that

>> Well, okay. So, let's think that through. But let me show you one thing.

through. But let me show you one thing. Let's talk about that. Right? So, this

Let's talk about that. Right? So, this is something a point I made. Super

is something a point I made. Super Bitcoinization is already here.

Bitcoinization is already here. Essentially, hyperinflation is defined

Essentially, hyperinflation is defined as 50% devaluation of a currency per

as 50% devaluation of a currency per month. Obviously, we aren't there. Okay,

month. Obviously, we aren't there. Okay, normal inflation is 2% per year. Now, it

normal inflation is 2% per year. Now, it really should be 0%, but the New Zealand

really should be 0%, but the New Zealand standard is 2%. Fine, that works out to

standard is 2%. Fine, that works out to 2% roughly per month. Divide by 12

2% roughly per month. Divide by 12 months, 10 months or something like

months, 10 months or something like that. Okay, I mean, if you just divide

that. Okay, I mean, if you just divide by 10, that's 02. So, it's a little less

by 10, that's 02. So, it's a little less than that. Okay,

than that. Okay, >> so normal inflation is like 02%ish.

>> so normal inflation is like 02%ish. Hyperinflation is 50%. But that's a big

Hyperinflation is 50%. But that's a big gap. What if we define something in the

gap. What if we define something in the middle? Call it 5% inflation per month.

middle? Call it 5% inflation per month. Call that superinflation, not

Call that superinflation, not hyperinflation.

hyperinflation. >> Okay.

>> Okay. >> Now, think about Bitcoin. Bitcoin was

>> Now, think about Bitcoin. Bitcoin was worth 0.1 cent per dollar in 2009. That

worth 0.1 cent per dollar in 2009. That was the first trade. Marty Malamy uh

was the first trade. Marty Malamy uh either bought or sold 5,50 Bitcoin for

either bought or sold 5,50 Bitcoin for about 50 bucks, right? So that was 0.1

about 50 bucks, right? So that was 0.1 cents per Bitcoin. Now it's $100,000

cents per Bitcoin. Now it's $100,000 Bitcoin. That is 100 millionx

Bitcoin. That is 100 millionx devaluation.

devaluation. In 16 years, if you work out the

In 16 years, if you work out the compounding rate, that is 10.41%

devaluation of the dollar versus a bitcoin every month for the last 16

bitcoin every month for the last 16 years. H So the superinflation is

years. H So the superinflation is already here. It's just super

already here. It's just super bitcoinization. We're like in a bullet

bitcoinization. We're like in a bullet train that has been accelerating so fast

train that has been accelerating so fast and so imperceptibly and we're moving at

and so imperceptibly and we're moving at such high velocity we don't even see it

such high velocity we don't even see it or perceive it. Right? But you see it to

or perceive it. Right? But you see it to some extent at the Bitcoin conferences.

some extent at the Bitcoin conferences. We see it to some extent in our numbers,

We see it to some extent in our numbers, you know, followers and so on going up.

you know, followers and so on going up. You see it in the scale of some of these

You see it in the scale of some of these events and what have you. You don't

events and what have you. You don't really see it because that's the thing

really see it because that's the thing about the internet. The internet, unlike

about the internet. The internet, unlike China, China, it's sheer physical scale

China, China, it's sheer physical scale isn't seen because it's in China. The

isn't seen because it's in China. The internet sheer scale isn't seen because

internet sheer scale isn't seen because it's invisible. So these things have

it's invisible. So these things have been rising so fast because in a sense

been rising so fast because in a sense they're sort of out of sight. You're

they're sort of out of sight. You're only perceiving them through stats, but

only perceiving them through stats, but they're already there. like the future

they're already there. like the future if the 20th century was the US versus

if the 20th century was the US versus USSR the 21st is China versus the

USSR the 21st is China versus the internet and that's also the land versus

internet and that's also the land versus the cloud by the way that's the same

the cloud by the way that's the same kind of tension that we talked about

kind of tension that we talked about earlier okay but here's my point about

earlier okay but here's my point about super bitcoinization right I have

super bitcoinization right I have thought this through I've thought about

thought this through I've thought about what it will look like see we have

what it will look like see we have what's what's funny about this is

what's what's funny about this is how many movies have you seen where

how many movies have you seen where aliens invade the earth

aliens invade the earth >> yeah a lot

>> yeah a lot >> a lot how about killer robots

>> a lot how about killer robots >> yeah a lot

>> yeah a lot >> a lot right but you actually haven't

>> a lot right but you actually haven't seen anything that really thinks through

seen anything that really thinks through what like the end of the dollar looks

what like the end of the dollar looks like.

like. >> So, no, because what we we always get we

>> So, no, because what we we always get we always get after the event, you know,

always get after the event, you know, financial crash.

financial crash. >> That's right.

>> That's right. >> Margin call.

>> Margin call. >> Yeah, we got um the big short. We get it

>> Yeah, we got um the big short. We get it after the event.

after the event. >> That's right.

>> That's right. >> So, let's just model that out. What does

>> So, let's just model that out. What does it look like? Okay. Now, the dollar's

it look like? Okay. Now, the dollar's already dropped like 10% even in the

already dropped like 10% even in the Dixie this year. Okay. Which is a lot

Dixie this year. Okay. Which is a lot because that's dropping against its

because that's dropping against its peers. That means in many ways the US is

peers. That means in many ways the US is sort of the weakest in the western

sort of the weakest in the western alliance because it's the most dependent

alliance because it's the most dependent on money printing since the cantalin

on money printing since the cantalin effect being near the money printer

effect being near the money printer >> applies the level of countries the US

>> applies the level of countries the US got the like you know people have shown

got the like you know people have shown like the US UK has been flat since

like the US UK has been flat since 2008ish

2008ish >> that's because they weren't as close to

>> that's because they weren't as close to the money printer as

the money printer as >> the Americans were so they were diluted

>> the Americans were so they were diluted down dollar inflation like America's

down dollar inflation like America's been cannibalizing even its allies like

been cannibalizing even its allies like that's why you know for example blowing

that's why you know for example blowing up Nordstream in Germany right it's it

up Nordstream in Germany right it's it was kind taking its allies and throwing

was kind taking its allies and throwing them against Russia. It's trying to take

them against Russia. It's trying to take Taiwan and throw it against China. It's

Taiwan and throw it against China. It's like sucking the marrow out of the UK,

like sucking the marrow out of the UK, right? It's like, you know, tariffing

right? It's like, you know, tariffing Canada, right? It is essentially in in

Canada, right? It is essentially in in this gravitational collapse, it's

this gravitational collapse, it's getting nastier and nastier even to its

getting nastier and nastier even to its ostensible allies. This is a huge change

ostensible allies. This is a huge change from the Cold War. In the Cold War, the

from the Cold War. In the Cold War, the US built up West Germany and it was

US built up West Germany and it was win-win and they were stronger versus

win-win and they were stronger versus East Germany. Right? Today, the US wants

East Germany. Right? Today, the US wants these allies to basically die and

these allies to basically die and sacrifice themselves for American living

sacrifice themselves for American living standards, right? Because it's gotten in

standards, right? Because it's gotten in a zero sum or negative sum mentality,

a zero sum or negative sum mentality, right? Which is why it's pushing away

right? Which is why it's pushing away Europe. And as a consequence, Europe

Europe. And as a consequence, Europe won't listen to it when it wants to

won't listen to it when it wants to sanction China, right? It's pushing away

sanction China, right? It's pushing away Japan and Korea. They've imposed big

Japan and Korea. They've imposed big tariffs on them, right? And yet, they

tariffs on them, right? And yet, they still want Japan and Korea as allies

still want Japan and Korea as allies versus China. They don't understand.

versus China. They don't understand. They've lost the concept of of empathy.

They've lost the concept of of empathy. And the reason is the left abused

And the reason is the left abused empathy for so long. They wanted you to

empathy for so long. They wanted you to have empathy for criminals, right? They

have empathy for criminals, right? They wanted you to have empathy for drug

wanted you to have empathy for drug dealers and murderers. And so the right

dealers and murderers. And so the right has decided any kind of empathy is bad.

has decided any kind of empathy is bad. >> But to be a good businessman, you have

>> But to be a good businessman, you have to have empathy. Like whenever I'm

to have empathy. Like whenever I'm proposing a deal, I always think through

proposing a deal, I always think through how the other guy wins first. And then

how the other guy wins first. And then I'm like, here is how you benefit from

I'm like, here is how you benefit from this deal. Here's the hard numbers. You

this deal. Here's the hard numbers. You can check it. And then here's my cut.

can check it. And then here's my cut. Right? Because everybody's concerned

Right? Because everybody's concerned about their benefit in a deal. And so if

about their benefit in a deal. And so if you're a good businessman, you think

you're a good businessman, you think about how did they get a win first,

about how did they get a win first, right? And if you're a great

right? And if you're a great businessman, you say, "How do they get a

businessman, you say, "How do they get a win 10 times in a row before I get a

win 10 times in a row before I get a win?" Right? And you eat best, but you

win?" Right? And you eat best, but you eat last or something like that, right?

eat last or something like that, right? You you have you have a positive sum

You you have you have a positive sum game because you can keep it going,

game because you can keep it going, right? That's how you do really great

right? That's how you do really great business. Um, and so empathy is

business. Um, and so empathy is something that even as a cold-blooded

something that even as a cold-blooded capitalist, you need empathy to

capitalist, you need empathy to understand what is the average

understand what is the average Vietnamese guy thinking? Well, for

Vietnamese guy thinking? Well, for example, all these countries that got

example, all these countries that got these tariffs, who were the people there

these tariffs, who were the people there who were exporting to America? Those

who were exporting to America? Those were the CEOs of these shoe companies or

were the CEOs of these shoe companies or or hat companies or whatever. They're

or hat companies or whatever. They're the most pro-American people in their

the most pro-American people in their country, right? These are people who

country, right? These are people who have American customers. They have

have American customers. They have American um you know like partners. They

American um you know like partners. They speak English. They they are the ones

speak English. They they are the ones lobbying their country to do more

lobbying their country to do more business with America, right? And every

business with America, right? And every single one of these CEOs around the

single one of these CEOs around the world just got wrecked. Wrecked. Because

world just got wrecked. Wrecked. Because when you have a when you're exporting a

when you have a when you're exporting a million dollars worth of goods and the

million dollars worth of goods and the tax goes up from like 0% to 49% then it

tax goes up from like 0% to 49% then it goes up and down and so first of all you

goes up and down and so first of all you have to immediately take out some

have to immediately take out some emergency loan or cut or fire people to

emergency loan or cut or fire people to get cuz your shipment is impounded at

get cuz your shipment is impounded at the port. It's not like a tax that's due

the port. It's not like a tax that's due in a year. Tariffs are a tax that's imp

in a year. Tariffs are a tax that's imp that like is due when you arrive at the

that like is due when you arrive at the port, right? It's not like you can have

port, right? It's not like you can have like a court case and this lands for a

like a court case and this lands for a long time. This is an instant tax that's

long time. This is an instant tax that's imposed today and you pay it or you lose

imposed today and you pay it or you lose your shipment. If you lose your

your shipment. If you lose your shipment, you lose your revenue. And if

shipment, you lose your revenue. And if you've got 4% margins and 49% tariffs,

you've got 4% margins and 49% tariffs, your business is just completely

your business is just completely destroyed. Right? So all kinds of people

destroyed. Right? So all kinds of people around the world who were trading with

around the world who were trading with America and trusted America got

America and trusted America got destroyed for doing that. Okay? I can't

destroyed for doing that. Okay? I can't emphasize how much damage that did. And

emphasize how much damage that did. And even if they they like somewhat came

even if they they like somewhat came down or whatever afterwards, you're

down or whatever afterwards, you're talking like this is a whole thing that

talking like this is a whole thing that ostensibly was supposed to help American

ostensibly was supposed to help American manufacturers, but it basically

manufacturers, but it basically bankrupted a bunch of them because they

bankrupted a bunch of them because they had to take out emergency loans to pay

had to take out emergency loans to pay for these taxes, which is what tariffs

for these taxes, which is what tariffs are. They're instant taxes, right?

are. They're instant taxes, right? Surprise taxes. And none of these

Surprise taxes. And none of these manufacturers asked. It's again, it's

manufacturers asked. It's again, it's like, you know, uh it's like Stalin, you

like, you know, uh it's like Stalin, you know, putting a a gun in the, you know,

know, putting a a gun in the, you know, small of your back and saying, "Okay,

small of your back and saying, "Okay, we'll fight or die, right?" It's like

we'll fight or die, right?" It's like taxing your inputs and saying, "Okay,

taxing your inputs and saying, "Okay, you know, I've taxed you by 40%. Now

you know, I've taxed you by 40%. Now build Apple." That's the that's the

build Apple." That's the that's the level of of thought that went into this.

level of of thought that went into this. These are surprise tariffs, right? So

These are surprise tariffs, right? So what's my point? Point is anybody who's

what's my point? Point is anybody who's trusting any US institution, if you

trusting any US institution, if you trusted US media, you were misled. If

trusted US media, you were misled. If you trusted Delaware, Elon and Dropbox

you trusted Delaware, Elon and Dropbox and so on had to move, right? If you

and so on had to move, right? If you trusted the FBI, Republicans trust the

trusted the FBI, Republicans trust the FBI, they found their their confidence

FBI, they found their their confidence that was destroyed. Democrats trusted

that was destroyed. Democrats trusted the US electoral system and now Trump is

the US electoral system and now Trump is being elected twice. Foreigners trusted,

being elected twice. Foreigners trusted, you know, America in terms of trade,

you know, America in terms of trade, right? Over and over again, there's

right? Over and over again, there's being rugpull after rugpull where

being rugpull after rugpull where people's faith in the US as a center of

people's faith in the US as a center of the global economy was was basically

the global economy was was basically pulled away, right?

pulled away, right? And because it's the center of the

And because it's the center of the global economy, people are still

global economy, people are still defaulting into it. And in a sense, what

defaulting into it. And in a sense, what the current administration is doing is

the current administration is doing is it's giving a strong incentive to people

it's giving a strong incentive to people to reroute flows of talent away from

to reroute flows of talent away from America. Because if you were like an

America. Because if you were like an Indian engineer, right, and you're at

Indian engineer, right, and you're at the top of your class, why would you go

the top of your class, why would you go to the US again today and have the left

to the US again today and have the left hate you because you're a capitalist or

hate you because you're a capitalist or an entrepreneur and a big chunk of the

an entrepreneur and a big chunk of the right hate you because you're Indian.

right hate you because you're Indian. Why would you do that, right? You go to

Why would you do that, right? You go to the UAE, you'd go to Singapore, maybe

the UAE, you'd go to Singapore, maybe you come to never school, you go and do

you come to never school, you go and do something else, right? There's like the

something else, right? There's like the world is your oyster. There's 30

world is your oyster. There's 30 countries that have digital nomad

countries that have digital nomad programs. El Salvador is recruiting,

programs. El Salvador is recruiting, Eastern Europe is recruiting, Japan, all

Eastern Europe is recruiting, Japan, all kinds of places. Hong Kong is recruiting

kinds of places. Hong Kong is recruiting even, right? They have like five

even, right? They have like five different talent visas. People are like,

different talent visas. People are like, "Oh, China isn't taking immigrants."

"Oh, China isn't taking immigrants." Yes, they are. Actually, they're

Yes, they are. Actually, they're recruiting heavily in Hong Kong for

recruiting heavily in Hong Kong for skilled workers, right? And um

skilled workers, right? And um and so the world is your oyster. Why

and so the world is your oyster. Why would Or you can just work from India or

would Or you can just work from India or something like that. India's radically

something like that. India's radically improved, right? They've if you have you

improved, right? They've if you have you seen Bangalore airport?

seen Bangalore airport? >> Uh probably. Yeah.

>> Uh probably. Yeah. >> Yeah. Well, so like you you could put a

>> Yeah. Well, so like you you could put a people like they don't have um

people like they don't have um they don't have a good mental visual

they don't have a good mental visual because things have improved so rapidly.

because things have improved so rapidly. Indian airport

Indian airport >> like Heathro terminal 5.

>> like Heathro terminal 5. >> It looks like he's terminal 5. It's like

>> It looks like he's terminal 5. It's like perfectly fine, right?

perfectly fine, right? >> Yeah. Here's I'll just show you a few

>> Yeah. Here's I'll just show you a few more. Right. Um like here is um

look I'm not seeing I'll show these and I'll qualify it in a second right this

I'll qualify it in a second right this is like these are just photos that I

is like these are just photos that I took you know or this one is from online

took you know or this one is from online this is you know like that's like

this is you know like that's like basically like an Indian Starbucks or

basically like an Indian Starbucks or whatever but in thumbl right yeah

whatever but in thumbl right yeah >> here is also to show this at a

>> here is also to show this at a qualitative level like lighting

qualitative level like lighting radically improved over 9 years right

radically improved over 9 years right >> it's not slum dog millionaire

>> it's not slum dog millionaire >> it's not slum dog millionaire India is

>> it's not slum dog millionaire India is actually radically radically radically

actually radically radically radically improving right and

improving right and >> but we don't get shown that

>> but we don't get shown that >> you don't get shown that but Indians are

>> you don't get shown that but Indians are seeing that right so it's this weird

seeing that right so it's this weird thing where Indians are actually rising

thing where Indians are actually rising faster than they ever have been but

faster than they ever have been but they're now now they're online and all

they're now now they're online and all these people are attacking them and so

these people are attacking them and so on and so forth in my in my view to be

on and so forth in my in my view to be clear I don't think I'm moderately

clear I don't think I'm moderately bullish on India but extremely bullish

bullish on India but extremely bullish on Indians okay so if China's a state

on Indians okay so if China's a state India is a network or if China's a state

India is a network or if China's a state Indians are a network right so like the

Indians are a network right so like the international Indian the internet Indian

international Indian the internet Indian is a big part of the global internet and

is a big part of the global internet and then like so if the future is China

then like so if the future is China versus internet Indians will be a big

versus internet Indians will be a big chunk of the internet

chunk of the internet >> okay

>> okay >> and and one of the reasons for that is

>> and and one of the reasons for that is Indians are secondass citizens in

Indians are secondass citizens in America but they're first class citizens

America but they're first class citizens on the internet

on the internet >> right in America their visa can be

>> right in America their visa can be yanked they can be yelled at all this

yanked they can be yelled at all this kind of stuff on the internet they have

kind of stuff on the internet they have the same monetary policy with Bitcoin

the same monetary policy with Bitcoin they have the same smart contracts they

they have the same smart contracts they have the same identity they of basically

have the same identity they of basically their peers. That's what the internet

their peers. That's what the internet is. It's a peer-to-p peer network. We

is. It's a peer-to-p peer network. We are all equal on the internet. You can

are all equal on the internet. You can have a fair handshake and a fair deal,

have a fair handshake and a fair deal, right? That's all you need for like a

right? That's all you need for like a rising people. They're not asking for

rising people. They're not asking for special treatment. They're asking to be

special treatment. They're asking to be treated as equals. And if they're

treated as equals. And if they're treated as equals, then they can compete

treated as equals, then they can compete and they can do very well. And how many

and they can do very well. And how many can do well? Was like a billion on the

can do well? Was like a billion on the over a billion, half a billion, 700

over a billion, half a billion, 700 million Indians have gone online the

million Indians have gone online the last 5 years. And they're accultuating

last 5 years. And they're accultuating quickly. They're like, you know, they're

quickly. They're like, you know, they're they're on Instagram, they're on Twitter

they're on Instagram, they're on Twitter and so on. They're like, "Wow, a lot of

and so on. They're like, "Wow, a lot of Westerners are really mad at others are,

Westerners are really mad at others are, you know, are happy they're there. And

you know, are happy they're there. And so there'll be this sort of collision of

so there'll be this sort of collision of these two cultures that hadn't collided

these two cultures that hadn't collided before. But on the other side of that,

before. But on the other side of that, is there another thing going on there in

is there another thing going on there in that and I'm certainly seeing this in

that and I'm certainly seeing this in the UK?

the UK? >> I'm I'm really disappointed at the

>> I'm I'm really disappointed at the younger generation at the moment. Uh

younger generation at the moment. Uh that this isn't universal, but I see a

that this isn't universal, but I see a uh I see poor education outcomes. Uh I

uh I see poor education outcomes. Uh I see the way

see the way >> GCSUs

>> GCSUs >> just across the board that we've we've

>> just across the board that we've we've lowered the bar and lowered the grading

lowered the bar and lowered the grading system. We've switched it from letters

system. We've switched it from letters to numbers. So it's a little it used to

to numbers. So it's a little it used to be abc d or an a star. You an a you know

be abc d or an a star. You an a you know a it's the first letter the top. Now

a it's the first letter the top. Now it's these kind of uh more opaque

it's these kind of uh more opaque numbers.

numbers. >> It's 100.

>> It's 100. >> No no it's it's is it one to no. Is it

>> No no it's it's is it one to no. Is it three to nine? It's a weird thing. So

three to nine? It's a weird thing. So >> So it makes it harder to know what's

>> So it makes it harder to know what's good.

good. >> Yeah. Yeah. So when my daughter says

>> Yeah. Yeah. So when my daughter says I've got a seven, I'm like what does

I've got a seven, I'm like what does that mean? Yes. What is that? Um uh

that mean? Yes. What is that? Um uh there's a there's a privilege uh mixed

there's a there's a privilege uh mixed with a lack of ambition.

with a lack of ambition. >> Mhm.

>> Mhm. >> Um yeah.

>> Um yeah. >> For the ones who aren't leaving, the

>> For the ones who aren't leaving, the ones who are leaving are ambitious.

ones who are leaving are ambitious. >> Of course. Yeah. But I just I I think

>> Of course. Yeah. But I just I I think there's a gen general dumbing down of uh

there's a gen general dumbing down of uh of the youth and but but for them they

of the youth and but but for them they don't see it themselves and they come

don't see it themselves and they come with privilege. Whereas where it comes I

with privilege. Whereas where it comes I mean obviously I'm is here I see a

mean obviously I'm is here I see a different Indian but I just see young

different Indian but I just see young ambitious hardworking intelligent

ambitious hardworking intelligent Indians

Indians >> but and they have low expectations also

>> but and they have low expectations also because if you grew up without hot water

because if you grew up without hot water life is like life is just improving

life is like life is just improving every day it's sometimes two steps

every day it's sometimes two steps forward one step back but there's a lot

forward one step back but there's a lot of people out of India that I know who

of people out of India that I know who literally grew up without hot water grew

literally grew up without hot water grew up without electricity and now they've

up without electricity and now they've got 5G you know wireless they've got the

got 5G you know wireless they've got the internet they've got cryptocurrency they

internet they've got cryptocurrency they can Crypto is really really good for

can Crypto is really really good for Indians because as I said they're

Indians because as I said they're treated as equals right and it's

treated as equals right and it's actually bad for China but it's

actually bad for China but it's interesting it's good for Chinese people

interesting it's good for Chinese people but bad for the Chinese state right why

but bad for the Chinese state right why the Chinese state hates Bitcoin because

the Chinese state hates Bitcoin because it can't control it represents total

it can't control it represents total freedom right the Chinese people like it

freedom right the Chinese people like it because it's money that the government

because it's money that the government can't control so that this way now in

can't control so that this way now in China basically the local province will

China basically the local province will treat the companies as like their bank

treat the companies as like their bank accounts so like if you're doing well

accounts so like if you're doing well they're like okay I'm going to take a

they're like okay I'm going to take a few million an R&B to just pay off some

few million an R&B to just pay off some loans. I'll take it out of your bank

loans. I'll take it out of your bank account, right? Because they've got root

account, right? Because they've got root over things, right? So, China, roughly

over things, right? So, China, roughly speaking, you know, Fukuyama has this

speaking, you know, Fukuyama has this good book called Origins of Political

good book called Origins of Political Order. And I'm radically oversimplifying

Order. And I'm radically oversimplifying here, but roughly speaking, in Europe,

here, but roughly speaking, in Europe, law equals state. In India, it was law

law equals state. In India, it was law above state. And in China, it's state

above state. And in China, it's state above law. What I mean by that is in

above law. What I mean by that is in China, they had took the pragmatic

China, they had took the pragmatic approach of basically the government

approach of basically the government can't limit itself. like your chair can

can't limit itself. like your chair can turn into like a CCP agent if the

turn into like a CCP agent if the government wants it to. They just, you

government wants it to. They just, you know, they have root access over

know, they have root access over everything and the written law doesn't

everything and the written law doesn't really matter. They can quote it at you

really matter. They can quote it at you if they want, but really the government

if they want, but really the government has root. They can do what they want.

has root. They can do what they want. Sort of like a system administrator of a

Sort of like a system administrator of a of a service. There's like routine

of a service. There's like routine things which are law, but if they want

things which are law, but if they want to, they can just boom, have root and

to, they can just boom, have root and kick anybody out, do whatever they want.

kick anybody out, do whatever they want. India had the opposite tradition where

India had the opposite tradition where they had law over state because all of

they had law over state because all of these kings believed in Hinduism and uh

these kings believed in Hinduism and uh scripture could be quoted at them and

scripture could be quoted at them and they were scared of not getting

they were scared of not getting reincarnated if they violated their

reincarnated if they violated their dharma right so there's law above state

dharma right so there's law above state that constrained the kings there but

that constrained the kings there but China is less spiritual like that they

China is less spiritual like that they didn't didn't have the same kind of

didn't didn't have the same kind of belief structure so China was state

belief structure so China was state above law India was law above state

above law India was law above state today that is the Chinese state and the

today that is the Chinese state and the international network crypto photography

international network crypto photography is law above state.

is law above state. >> Yeah, that's what Bitcoin represents.

>> Yeah, that's what Bitcoin represents. It's a government of governments. It is

It's a government of governments. It is a smart contract that constrains even no

a smart contract that constrains even no matter how proud a king is, they are

matter how proud a king is, they are constrained by cryptography. There's no

constrained by cryptography. There's no amount of violence that can solve

amount of violence that can solve certain kinds of math problems. So, I I

certain kinds of math problems. So, I I really want to get into the Bitcoin bit

really want to get into the Bitcoin bit with you, but there is a couple couple

with you, but there is a couple couple of bits I just want to uh make sure we

of bits I just want to uh make sure we do cover because I asked you if there's

do cover because I asked you if there's an inevitability of this, like can the

an inevitability of this, like can the West be saved? because it's a I feel

West be saved? because it's a I feel like I want to be part of the solution

like I want to be part of the solution cuz I got but but let me frame it. So I

cuz I got but but let me frame it. So I have two options exit or stay and try

have two options exit or stay and try and be part of the solution and I really

and be part of the solution and I really want to stay and be part of the

want to stay and be part of the solution. I don't want to leave tens of

solution. I don't want to leave tens of millions of people behind. I want to

millions of people behind. I want to help.

help. >> But if it can't be saved

>> But if it can't be saved that is futile for me and my children.

that is futile for me and my children. And layering into that I don't think cuz

And layering into that I don't think cuz we're we're in this all day every day.

we're we're in this all day every day. We're on the internet. with speakers. We

We're on the internet. with speakers. We play we're fully dialed into the risks

play we're fully dialed into the risks in Western civilization. I think most

in Western civilization. I think most people have got no idea what is going

people have got no idea what is going on,

on, >> right?

>> right? >> They sense something's bad.

>> They sense something's bad. >> Yes. But

>> Yes. But >> but it's temporary.

>> but it's temporary. >> It's exactly or they think it's going to

>> It's exactly or they think it's going to be gotten over with and sun will shine

be gotten over with and sun will shine and so

and so >> Yeah. Another party will fix this.

>> Yeah. Another party will fix this. >> Yes. So, so my view is this.

>> Yes. So, so my view is this. >> So, on this podcast you are definitely

>> So, on this podcast you are definitely hearing me talk about Bitcoin a lot.

hearing me talk about Bitcoin a lot. Well, why? We live in a really strange

Well, why? We live in a really strange time with governments driving inflation

time with governments driving inflation with their reckless spending and endless

with their reckless spending and endless money printing. There is a way out of

money printing. There is a way out of this. There is a way to protect your

this. There is a way to protect your money and that is by stacking Bitcoin.

money and that is by stacking Bitcoin. I've made loads of shows about Bitcoin.

I've made loads of shows about Bitcoin. You can go and research this. You can go

You can go and research this. You can go and read the books. But the truth is it

and read the books. But the truth is it is the hardest money ever created. If

is the hardest money ever created. If you are interested in protecting your

you are interested in protecting your financial future, it's time for you to

financial future, it's time for you to get on the Bitcoin train. I have. I've

get on the Bitcoin train. I have. I've been stacking Bitcoin personally and

been stacking Bitcoin personally and through my businesses since 2017. It's

through my businesses since 2017. It's protected me. It's secured my family's

protected me. It's secured my family's future and it also strengthens all of my

future and it also strengthens all of my businesses. So, if you want to start

businesses. So, if you want to start stacking Bitcoin, where do you do it?

stacking Bitcoin, where do you do it? Well, for me is with Gemini. They're a

Well, for me is with Gemini. They're a fully licensed full reserve exchange and

fully licensed full reserve exchange and custodian. So, they give you a secure

custodian. So, they give you a secure way for you to buy and own your Bitcoin.

way for you to buy and own your Bitcoin. There's no risks and no funny business.

There's no risks and no funny business. So, if you're serious about stacking

So, if you're serious about stacking Bitcoin the right way, head over to

Bitcoin the right way, head over to gemini.com, which is gem ni.com. Even

gemini.com, which is gem ni.com. Even the concept of the west is actually

the concept of the west is actually relatively modern. Why? It used to be

relatively modern. Why? It used to be Europe and Christendom, right? And so it

Europe and Christendom, right? And so it was geographically in Europe. It was

was geographically in Europe. It was like religious, right? And then it was

like religious, right? And then it was uh it was a shift out to America and it

uh it was a shift out to America and it was a shift towards a more secular

was a shift towards a more secular self-conception. By calling it the west,

self-conception. By calling it the west, it included Europe and America kind of

it included Europe and America kind of as the western part of the grand

as the western part of the grand Eurasian superc continent, right? And

Eurasian superc continent, right? And that's how you started to get Western

that's how you started to get Western values as opposed to Christendom. you

values as opposed to Christendom. you sort of have American Europe as opposed

sort of have American Europe as opposed to just Europe. It was a technological

to just Europe. It was a technological shift. It was a political shift towards

shift. It was a political shift towards democracy rather than kings and so on

democracy rather than kings and so on and so forth. There was several shifts

and so forth. There was several shifts on one, right? So I think the version

on one, right? So I think the version 3.0 is the internet,

3.0 is the internet, right? Just like the west is kind of a

right? Just like the west is kind of a more inclusive term in a sense than

more inclusive term in a sense than Europe because it included for example

Europe because it included for example African-Americans. included basically,

African-Americans. included basically, you know, polls and and anybody who came

you know, polls and and anybody who came to America and assimilated into America

to America and assimilated into America was considered part of the West. Even if

was considered part of the West. Even if historically you could argue whether

historically you could argue whether polls were part of, you know, the West

polls were part of, you know, the West in in Western Europe, um they weren't.

in in Western Europe, um they weren't. They were in Eastern Europe, right? So

They were in Eastern Europe, right? So the the internet is born from the West

the the internet is born from the West just as the West was born from Europe,

just as the West was born from Europe, but it is its own thing, right? And you

but it is its own thing, right? And you can have this kind of you can actually

can have this kind of you can actually argue that there's like five stages like

argue that there's like five stages like Greece, Rome, Britain, America,

Greece, Rome, Britain, America, internet,

internet, >> right? Um but let me just do three

>> right? Um but let me just do three stages. Okay. So three stages. For

stages. Okay. So three stages. For example, you go from the common law

example, you go from the common law which bound all Brits to the

which bound all Brits to the constitution which scaled up to

constitution which scaled up to Americans to the smart contract and

Americans to the smart contract and Bitcoin which scales up to the world.

Bitcoin which scales up to the world. Right? A lot of the arguing in America

Right? A lot of the arguing in America from 1865 19965 to the present day is

from 1865 19965 to the present day is about racial discrimination and and the

about racial discrimination and and the constitution. There's different views on

constitution. There's different views on this. The left and right have different

this. The left and right have different views, but they basically agree in some

views, but they basically agree in some ways that the that the laws are biased

ways that the that the laws are biased against either black people and the left

against either black people and the left says or white people that the right says

says or white people that the right says and so on and so forth. Okay, fine. But

and so on and so forth. Okay, fine. But no one's arguing that Bitcoin is biased

no one's arguing that Bitcoin is biased in such a way. H no one's arg like if if

in such a way. H no one's arg like if if you go to a to a crypto conference in

you go to a to a crypto conference in Africa, Latin America, the Middle East,

Africa, Latin America, the Middle East, India, no one's saying that, right? Why?

India, no one's saying that, right? Why? Because it's an algorithm, right? of

Because it's an algorithm, right? of legislative, executive, and judiciary.

legislative, executive, and judiciary. We have managed to automate the

We have managed to automate the judiciary on chain, right? So, we've

judiciary on chain, right? So, we've taken away the potential for human bias.

taken away the potential for human bias. And so, you have billions of dollars

And so, you have billions of dollars flowing into this and people feel

flowing into this and people feel they'll get a fair shake from the

they'll get a fair shake from the blockchain in a way they won't in

blockchain in a way they won't in America or in China. That's a really

America or in China. That's a really deep point because that means that the

deep point because that means that the internet is actually the version 3.0.

internet is actually the version 3.0. See, the thing is, I think, you know, in

See, the thing is, I think, you know, in 2020, the West was more crazy left than

2020, the West was more crazy left than it was. And I actually think today it's

it was. And I actually think today it's actually being more

actually being more for lack of a better term it's a very

for lack of a better term it's a very simplistic term racial angry and so on

simplistic term racial angry and so on than it really feels that like because

than it really feels that like because the west believes in fair play I think

the west believes in fair play I think right

right >> and Bitcoin and crypto and the internet

>> and Bitcoin and crypto and the internet are sort of enforced fair play right the

are sort of enforced fair play right the reason the right is as animated the

reason the right is as animated the western right is as animated as it is it

western right is as animated as it is it felt they tried to to abide by the rules

felt they tried to to abide by the rules of fair play and they got screwed. The

of fair play and they got screwed. The white American guy got screwed. I tried

white American guy got screwed. I tried to play by the rules and I got screwed.

to play by the rules and I got screwed. F all of you. We're going to break the

F all of you. We're going to break the rules, flip the table, and so on and so

rules, flip the table, and so on and so forth. Actually understand where that

forth. Actually understand where that comes from.

comes from. >> Yep.

>> Yep. >> But if you actually did have a fully

>> But if you actually did have a fully impartial fair court system, right, one

impartial fair court system, right, one that could not be biased against you

that could not be biased against you whether you're black or white, that is

whether you're black or white, that is what the internet represents,

what the internet represents, right? So that is the version 3.0 where

right? So that is the version 3.0 where I think the West is ending but the

I think the West is ending but the internet is just beginning. It's kind of

internet is just beginning. It's kind of like, you know, when the British Empire

like, you know, when the British Empire is ending, the American Empire is

is ending, the American Empire is booting up, right? And it was clearly a

booting up, right? And it was clearly a torch passing moment, right? And the

torch passing moment, right? And the internet is as American as America was

internet is as American as America was British.

British. >> And I'll explain. I think it's a very

>> And I'll explain. I think it's a very good analogy. There's a lot into that.

good analogy. There's a lot into that. Why did America start out British? Of

Why did America start out British? Of course it did, right? It owes an

course it did, right? It owes an enormous debt to Britain. We all owe

enormous debt to Britain. We all owe debt to Britain, right? We owe our

debt to Britain, right? We owe our language to Britain. Like for everything

language to Britain. Like for everything people dump on the British, and they've

people dump on the British, and they've seen better times, um the British Empire

seen better times, um the British Empire was probably the most benevolent Hegimon

was probably the most benevolent Hegimon uh you know, ever since, you know, till

uh you know, ever since, you know, till the American Empire. And of course, they

the American Empire. And of course, they did all kinds of bad things, but they

did all kinds of bad things, but they did more good things than most other

did more good things than most other empires. Fine. Okay. So, Americans owe a

empires. Fine. Okay. So, Americans owe a lot to the British and um it's their

lot to the British and um it's their language, it's their culture, it's their

language, it's their culture, it's their laws, all kind. And they did fork it. Of

laws, all kind. And they did fork it. Of course, they don't have a king. They

course, they don't have a king. They have a constitution. But constitution

have a constitution. But constitution comes out of in part the Magna Carta and

comes out of in part the Magna Carta and common law and a tradition that the

common law and a tradition that the British had that there was some law that

British had that there was some law that governed even the king. And they fought

governed even the king. And they fought all these battles over that and so on

all these battles over that and so on and so forth. Obviously, you know,

and so forth. Obviously, you know, there's books like Albian Seed or uh you

there's books like Albian Seed or uh you know, by uh by David Hacken Fischer and

know, by uh by David Hacken Fischer and then there's another one by Walter

then there's another one by Walter Russell me on like foreign policy about

Russell me on like foreign policy about like various British folk pathways that

like various British folk pathways that came to the US, right? Like the uh um do

came to the US, right? Like the uh um do you know the story about the English

you know the story about the English civil war?

civil war? >> Well, which bit?

>> Well, which bit? >> So, in the 1600s, you know, there's a

>> So, in the 1600s, you know, there's a bunch of fighting between roundheads and

bunch of fighting between roundheads and and cavaliers within within Britain,

and cavaliers within within Britain, right? And the Roundheads, a faction of

right? And the Roundheads, a faction of them, let's call it the left, which were

them, let's call it the left, which were the more parliamentary and democratic

the more parliamentary and democratic left faction, came to Massachusetts to

left faction, came to Massachusetts to set up the Massachusetts Bay Colony.

set up the Massachusetts Bay Colony. Another faction, which were, let's call

Another faction, which were, let's call them the right, the Cavaliers. They had

them the right, the Cavaliers. They had a bunch of nobles go to Virginia to set

a bunch of nobles go to Virginia to set up the Virginia colony. And then that

up the Virginia colony. And then that left and right of England came to

left and right of England came to America in Massachusetts and Virginia,

America in Massachusetts and Virginia, right? And then 200 years later they had

right? And then 200 years later they had another civil war in America.

another civil war in America. >> That's incredible.

>> That's incredible. >> Yeah. I didn't know that.

>> Yeah. I didn't know that. >> Right. So that shows like continuity.

>> Right. So that shows like continuity. Like in in England the left and right

Like in in England the left and right were fighting over equality versus

were fighting over equality versus hierarchy and it was expressed in a

hierarchy and it was expressed in a certain way as this religious kind of

certain way as this religious kind of thing. You know you're aware of that cuz

thing. You know you're aware of that cuz you're you know British and whatnot.

you're you know British and whatnot. >> But when you realize that those seeds

>> But when you realize that those seeds came over to the new world and then as

came over to the new world and then as these grew they slugged it out again a

these grew they slugged it out again a couple hundred years later. Basically,

couple hundred years later. Basically, they've had periods of in the 1600s they

they've had periods of in the 1600s they fought. In the 1700s, they cooperated.

fought. In the 1700s, they cooperated. In the 1800s, they fought, in the 1900s,

In the 1800s, they fought, in the 1900s, they cooperated. Now, in the 2000s,

they cooperated. Now, in the 2000s, they're fighting

they're fighting and then maybe on their side they'll

and then maybe on their side they'll cooperate again. And we can put left and

cooperate again. And we can put left and right back together, right? And that's

right back together, right? And that's what the internet means to me, right?

what the internet means to me, right? Why? Obviously, it has the libertarian

Why? Obviously, it has the libertarian values of um capitalism and markets and

values of um capitalism and markets and startups and all that kind of stuff.

startups and all that kind of stuff. That's maybe obvious, but less obviously

That's maybe obvious, but less obviously perhaps, it also has all the progressive

perhaps, it also has all the progressive values. Everybody's equal on the

values. Everybody's equal on the internet, right? You you have

internet, right? You you have essentially global free speech. You have

essentially global free speech. You have every race and religion represented

every race and religion represented there. You have essentially something

there. You have essentially something where you're basically free to do what

where you're basically free to do what you want as long as you're not bothering

you want as long as you're not bothering other people. You can learn anything.

other people. You can learn anything. You can publish anything. It's actually

You can publish anything. It's actually a really free environment in that sense,

a really free environment in that sense, right?

right? >> But we are getting the polarization

>> But we are getting the polarization there. As you said, blue sky versus X.

there. As you said, blue sky versus X. >> True. True. So, so I'm not saying there

>> True. True. So, so I'm not saying there aren't sec, but but if you um if you

aren't sec, but but if you um if you zoom out and you say, do you have a free

zoom out and you say, do you have a free internet broadly?

internet broadly? >> Yes,

>> Yes, >> you do. Right. Like broadly speaking,

>> you do. Right. Like broadly speaking, you can speak to anybody, you can

you can speak to anybody, you can transact with anybody. And there's

transact with anybody. And there's strong forces that want to keep it a

strong forces that want to keep it a global internet because that's maximum

global internet because that's maximum scale is maximum following. It's maximum

scale is maximum following. It's maximum monetization. It's maximum learning.

monetization. It's maximum learning. It's maximum training for machine

It's maximum training for machine learning. There's there's something to

learning. There's there's something to maximum scale of markets and audience,

maximum scale of markets and audience, right? And if you just had just a

right? And if you just had just a limited national audience or market, you

limited national audience or market, you would basically just be less successful.

would basically just be less successful. And the more ambitious you are, the more

And the more ambitious you are, the more you're going to seek to expand that

you're going to seek to expand that market, right? So there's good there's

market, right? So there's good there's forces that will keep, I think, the

forces that will keep, I think, the internet free. I'm not saying we take

internet free. I'm not saying we take that for granted, but that is actually

that for granted, but that is actually one side of things. And the opposite is

one side of things. And the opposite is China. China represents I'm not saying

China. China represents I'm not saying it's like pure evil or something, but it

it's like pure evil or something, but it represents the opposite philosophy. It's

represents the opposite philosophy. It's hard digital borders. That's what the

hard digital borders. That's what the great firewall is. Right now, it's not

great firewall is. Right now, it's not just control over speech. It is control

just control over speech. It is control over drones because if a you can't

over drones because if a you can't script a drone on Chinese territory in a

script a drone on Chinese territory in a real sense, by the way, China and crypto

real sense, by the way, China and crypto are the only two that take the internet

are the only two that take the internet seriously because they have the great

seriously because they have the great firewall on the blockchain, which are

firewall on the blockchain, which are defensive structures on the internet.

defensive structures on the internet. They treat the internet as a first class

They treat the internet as a first class really important thing that you need to

really important thing that you need to protect. As different as they are, those

protect. As different as they are, those are like defensive structures, right?

are like defensive structures, right? >> Yeah. And whereas America like the

>> Yeah. And whereas America like the Pentagon is hacked over and over and

Pentagon is hacked over and over and over again, right? Like you know, OPM

over again, right? Like you know, OPM personnel file hacked over and over

personnel file hacked over and over again. The US government cannot actually

again. The US government cannot actually defend itself online

defend itself online and um and everything is moving to

and um and everything is moving to either China or the internet. Right.

either China or the internet. Right. Okay. So to your point, I think my

Okay. So to your point, I think my worldview is internet first. Okay. So,

worldview is internet first. Okay. So, like I understand where America First

like I understand where America First Guys come from and actually I'm I'm

Guys come from and actually I'm I'm sympathetic to them in some ways. I

sympathetic to them in some ways. I think that they didn't want to get as

think that they didn't want to get as angry as they are. They wanted to have

angry as they are. They wanted to have like a libertarianish order and a fair

like a libertarianish order and a fair deal and so on and so forth than a fair

deal and so on and so forth than a fair handshake, right? I even understand

handshake, right? I even understand where the progressives are coming from

where the progressives are coming from in Blue America. I'm probably more

in Blue America. I'm probably more sympathetic somewhat, you know,

sympathetic somewhat, you know, centristish. I understand where they're

centristish. I understand where they're coming from as well because they had

coming from as well because they had they had a nice expense account. You

they had a nice expense account. You know, they worked at Time magazine as a

know, they worked at Time magazine as a journalist. They wrote four articles a

journalist. They wrote four articles a year and then the internet guys took

year and then the internet guys took that all away from them, right? some sim

that all away from them, right? some sim actually I can see everybody's side of

actually I can see everybody's side of this um

this um what I think you when I say internet

what I think you when I say internet first that's not country first it's not

first that's not country first it's not America first or Turkey first or

America first or Turkey first or something like that but it's certainly

something like that but it's certainly not those countries last it means those

not those countries last it means those people are equal on the internet number

people are equal on the internet number one and internet first is also like

one and internet first is also like mobile first it's like AI first it's

mobile first it's like AI first it's like it's a technology strategy as well

like it's a technology strategy as well as a political strategy and the concept

as a political strategy and the concept is the internet is the one thing that

is the internet is the one thing that has economic scale comparable to China.

has economic scale comparable to China. India doesn't by itself, right? India is

India doesn't by itself, right? India is like pretty big, but it's like, you

like pretty big, but it's like, you know, how many Indians can compete at a

know, how many Indians can compete at a Chinese level? I don't know. Even if

Chinese level? I don't know. Even if it's 100 million, that's still a lot

it's 100 million, that's still a lot smaller than than China. I don't know

smaller than than China. I don't know the exact number. We're all going to

the exact number. We're all going to find out, right? But let's just say

find out, right? But let's just say China is the single largest. It It's

China is the single largest. It It's like Apple, right? It's like vertically

like Apple, right? It's like vertically integrated, you know? It's closed,

integrated, you know? It's closed, hermetically sealed. It's aesthetically,

hermetically sealed. It's aesthetically, you know, they've got really great

you know, they've got really great visuals in China and so on, but like the

visuals in China and so on, but like the Chinese software only runs on the

Chinese software only runs on the Chinese hardware. Like the Chinese party

Chinese hardware. Like the Chinese party state and the great firewall and all the

state and the great firewall and all the Chinese apps only run on the HonChinese

Chinese apps only run on the HonChinese like in a sense hardware, right? They

like in a sense hardware, right? They they they themselves say that their

they they themselves say that their system is not meant to be exported

system is not meant to be exported outside China, right? The opposite of

outside China, right? The opposite of that, what's opposite of Apple? It's

that, what's opposite of Apple? It's Android. It runs on any device. It's

Android. It runs on any device. It's messy. It's chaotic. It's free. That's

messy. It's chaotic. It's free. That's the internet. So China versus internet

the internet. So China versus internet is like Apple vers Android, right? And

is like Apple vers Android, right? And so if you take an internet first view of

so if you take an internet first view of things, what is internet first?

things, what is internet first? >> Freedom.

>> Freedom. >> It's freedom. That's right. But

>> It's freedom. That's right. But basically, it's freedom. And so we would

basically, it's freedom. And so we would call it freedom versus order. They would

call it freedom versus order. They would call it or we'd call it freedom versus

call it or we'd call it freedom versus oppression. They would call it control

oppression. They would call it control versus anarchy.

versus anarchy. >> Right? So you want to have a balance of

>> Right? So you want to have a balance of something which is ordered liberty.

something which is ordered liberty. Right? You don't want to have anarchy

Right? You don't want to have anarchy because if you have because you're going

because if you have because you're going to have I think between Chinese control

to have I think between Chinese control and American anarchy we need to have an

and American anarchy we need to have an intermediate.

intermediate. >> Yeah.

>> Yeah. >> So just to throw into that so

>> So just to throw into that so >> so let me go back to how can you fix

>> so let me go back to how can you fix things right? So okay. All right. So

things right? So okay. All right. So with internet first as opposed like the

with internet first as opposed like the thing is when you say western

thing is when you say western civilization

civilization who are the champions of western

who are the champions of western civilization today they're not that many

civilization today they're not that many right because big chunks of you know

right because big chunks of you know Americans British are basically

Americans British are basically anti-western civilization right and even

anti-western civilization right and even the people who are on the right let's

the people who are on the right let's say are not exactly dressed in suits and

say are not exactly dressed in suits and ties and enacting was proprietary or

ties and enacting was proprietary or what have you right they're like cursing

what have you right they're like cursing at people online, they're firing their

at people online, they're firing their guns. They've got, you know, like they

guns. They've got, you know, like they they they do not look like the 1950s

they they do not look like the 1950s cleancut American, let alone the proper

cleancut American, let alone the proper Brit, right? Have you seen that thing

Brit, right? Have you seen that thing about um I mean, I'm not saying there

about um I mean, I'm not saying there aren't still some posh receive

aren't still some posh receive pronunciation Brits around, but there's

pronunciation Brits around, but there's fewer of them, right? It's not like a

fewer of them, right? It's not like a virally spreading ideology right now,

virally spreading ideology right now, right? Go ahead. Maybe you disagree.

right? Go ahead. Maybe you disagree. >> Well, no, no, no. I agree. I mean, but

>> Well, no, no, no. I agree. I mean, but I'm automatically thinking it it's

I'm automatically thinking it it's cohorts that exist like Bitcoiners.

cohorts that exist like Bitcoiners. >> Yeah. Yeah. Sure. So I so I think you

>> Yeah. Yeah. Sure. So I so I think you could have a startup society of received

could have a startup society of received pronunci actually here's a funny visual

pronunci actually here's a funny visual I don't know if you've seen this like

this is I don't know if you ever seen this but this is a great one to put on

this but this is a great one to put on your

British is seen by Americans are all upper class toss and so on British is

upper class toss and so on British is seen by Europeans

seen by Europeans Have you ever go to my Twitter?

Have you ever go to my Twitter? >> No, I've got a different thing, but I

>> No, I've got a different thing, but I think you'll find it quite funny.

think you'll find it quite funny. >> Uh, was it Peter McCorm?

>> Uh, was it Peter McCorm? >> Yeah.

>> Yeah. >> My pin tweet. It's been there for a

>> My pin tweet. It's been there for a couple of years now.

couple of years now. >> Yeah. Yeah. Yeah. Yeah. Yeah. Exactly

>> Yeah. Yeah. Yeah. Yeah. Yeah. Exactly like this. That's exactly right. Yeah,

like this. That's exactly right. Yeah, >> that's right. Liv versus Alex Jones.

>> that's right. Liv versus Alex Jones. Exactly. So, that's a different cut on

Exactly. So, that's a different cut on on this, right? Yeah. So um

on this, right? Yeah. So um so the thing is that basically um

I think the internet is is in its spring it's so

the internet is is in its spring it's so like you know you were around in ' 91 I

like you know you were around in ' 91 I was around 91 how many messages do you

was around 91 how many messages do you send on the internet in 1991 basically

send on the internet in 1991 basically zero

zero >> yeah nothing

>> yeah nothing >> how many transactions you paid in cash

>> how many transactions you paid in cash yeah right okay now today 99% of your

yeah right okay now today 99% of your communications are online 99% of your

communications are online 99% of your transactions are online right

transactions are online right >> so but What remains to be online is the

>> so but What remains to be online is the presidency, the currency, the military,

presidency, the currency, the military, the universities, the equities, right?

the universities, the equities, right? There's remaining institutions that are

There's remaining institutions that are still partially offline. Is this

still partially offline. Is this >> So, one of the things I've kind of

>> So, one of the things I've kind of observed is that I've watched the

observed is that I've watched the internet um disrupt everything.

internet um disrupt everything. >> Mhm.

>> Mhm. >> From not yet.

>> From not yet. >> Well, I I say the majority disrupted

>> Well, I I say the majority disrupted music, disrupted film, it's disrupt, you

music, disrupted film, it's disrupt, you know, we don't go to a DVD store

know, we don't go to a DVD store anymore. We buy everything online and

anymore. We buy everything online and uh politics has failed to keep up,

uh politics has failed to keep up, >> right?

>> right? >> Politics has failed to keep up from

>> Politics has failed to keep up from central government. Politics has raced

central government. Politics has raced ahead in terms of the electorate

ahead in terms of the electorate discussing things which is why for

discussing things which is why for example reform party in the UK

example reform party in the UK essentially didn't exist 3 4 years ago

essentially didn't exist 3 4 years ago and now leading the polls. The internet

and now leading the polls. The internet has enabled that. It is a reaction. And

has enabled that. It is a reaction. And it's a populist reaction to our kind of

apathy towards the uni party the complete complete failure of the state

complete complete failure of the state >> right so so on that point right

>> right so so on that point right basically everything that's happening in

basically everything that's happening in politics in media in money military

politics in media in money military everything is downstream of the internet

everything is downstream of the internet >> so in that sense internet first where to

>> so in that sense internet first where to understand any phenomenon happening in

understand any phenomenon happening in the world today start with how the how's

the world today start with how the how's the internet changing that versus 10 20

the internet changing that versus 10 20 30 years ago example of the military

30 years ago example of the military it's drones right example with politics

it's drones right example with politics the internet and from it Twitter and

the internet and from it Twitter and social media is upstream of Brexit. It's

social media is upstream of Brexit. It's upstream of Trump. It's upstream of

upstream of Trump. It's upstream of Bolsinaro. It's upstream of BLM. It's

Bolsinaro. It's upstream of BLM. It's upstream of Trump's re-election. It's

upstream of Trump's re-election. It's upstream of all of those things, right?

upstream of all of those things, right? And that's very obvious where Twitter

And that's very obvious where Twitter elected Trump and then Twitter

elected Trump and then Twitter deplatformed Trump and then X reelected

deplatformed Trump and then X reelected Trump,

Trump, >> right? the internet is actually

>> right? the internet is actually upstream, you know, and uh if you think

upstream, you know, and uh if you think about stock markets like the NY and the

about stock markets like the NY and the NASDAQ are becoming more like crypto

NASDAQ are becoming more like crypto than vice versa. Like prices moving like

than vice versa. Like prices moving like this, GameStop and AMC and stuff like

this, GameStop and AMC and stuff like that, the volatility and craziness of

that, the volatility and craziness of the internet is leeching back into

the internet is leeching back into physical world, right? And so when you

physical world, right? And so when you say the internet has disrupted

say the internet has disrupted everything, I say yes, but we haven't

everything, I say yes, but we haven't seen anything yet.

seen anything yet. >> Okay? because we haven't yet had the

>> Okay? because we haven't yet had the core institutions replaced with internet

core institutions replaced with internet first versions.

first versions. >> And is there a world that you see that

>> And is there a world that you see that we maybe skip a step and it's uh the

we maybe skip a step and it's uh the institutions are replaced by some one

institutions are replaced by some one something on the internet but something

something on the internet but something on the internet that is AIdriven? Well,

on the internet that is AIdriven? Well, I mean AI is definitely going to be a

I mean AI is definitely going to be a big piece of it, but AI is probabilistic

big piece of it, but AI is probabilistic and crypto deterministics are

and crypto deterministics are complimentary. Like AI makes errors. AI

complimentary. Like AI makes errors. AI needs to be verified, right? And we're

needs to be verified, right? And we're now two and a half years into AI. And I

now two and a half years into AI. And I mean I mean obviously we're like 50

mean I mean obviously we're like 50 years into AI, but two and a half years

years into AI, but two and a half years into the modern chatbt era, three

into the modern chatbt era, three yearsish, right? So

yearsish, right? So prompting hasn't gone away and verifying

prompting hasn't gone away and verifying hasn't gone away. And so AI can do a

hasn't gone away. And so AI can do a lot, but but basically one of the areas

lot, but but basically one of the areas AI is going to create a ton of jobs in

AI is going to create a ton of jobs in is verifying and proctoring.

is verifying and proctoring. >> Okay?

>> Okay? >> And there's because the output of AI

>> And there's because the output of AI like if if it gives you some legal

like if if it gives you some legal thing, you need a legal expert to review

thing, you need a legal expert to review it. If it's got some radological thing,

it. If it's got some radological thing, you want a radological expert to take a

you want a radological expert to take a look at it. It might be better than most

look at it. It might be better than most radiologists, but you often want a human

radiologists, but you often want a human in the loop to check at the end, right?

in the loop to check at the end, right? Especially crucially, it's best for

Especially crucially, it's best for visual things like images, video, front

visual things like images, video, front end, because you can check that with

end, because you can check that with your eye very quickly. You can verify it

your eye very quickly. You can verify it with your eye. For anything that's

with your eye. For anything that's that's text, that's contracts, that's

that's text, that's contracts, that's backend code, you have to actually go

backend code, you have to actually go line by line and verify it yourself.

line by line and verify it yourself. >> It's and you've brought out things which

>> It's and you've brought out things which have liability.

have liability. >> Yeah, that's right. So stuff that is

>> Yeah, that's right. So stuff that is basically something where there's a

basically something where there's a significant probability for getting it

significant probability for getting it wrong. You're going to have a human loop

wrong. You're going to have a human loop in AI until we have some paradic

in AI until we have some paradic breakthrough. Right? So it's not a you

breakthrough. Right? So it's not a you know panacea um or panicia how is that

know panacea um or panicia how is that pronounced panacea

pronounced panacea >> panacea. Yeah. So so AI is not a

>> panacea. Yeah. So so AI is not a panacea. Um it'll help don't get me

panacea. Um it'll help don't get me wrong but uh it is um it is something

wrong but uh it is um it is something that because you have to prompt it and

that because you have to prompt it and verify it. It doesn't do things end to

verify it. It doesn't do things end to end. It does things middle to middle.

end. It does things middle to middle. >> Okay. Okay, so there's a couple

>> Okay. Okay, so there's a couple important things I want to So the

important things I want to So the inevitability of the end um

inevitability of the end um >> can the can the US and can the UK be

>> can the can the US and can the UK be saved or is are we are facing some kind

saved or is are we are facing some kind of just terminal decline multi-deade

of just terminal decline multi-deade uh period of decline before there's any

uh period of decline before there's any turnaround is is there any hope in my

turnaround is is there any hope in my view yeah I don't think these political

view yeah I don't think these political entities are going to continue I think

entities are going to continue I think there like for example after the USSR

there like for example after the USSR like Russians still existed Right.

like Russians still existed Right. But and some they kept some of that

But and some they kept some of that territory but like the borders got

territory but like the borders got renegotiated, passports were reissued,

renegotiated, passports were reissued, that political entity went bust, right?

that political entity went bust, right? Like the USSR as a political entity went

Like the USSR as a political entity went bust. That's the scale of thing I think

bust. That's the scale of thing I think is going to happen.

is going to happen. >> So America America in its current form

>> So America America in its current form is over there will be a re

is over there will be a re >> there'll be something I mean like like

>> there'll be something I mean like like the land doesn't vanish into into so

the land doesn't vanish into into so actually this is a really important

actually this is a really important thing to think through right. What's so

thing to think through right. What's so the fall of the USSR is the closest

the fall of the USSR is the closest parallel I think within our lifetimes to

parallel I think within our lifetimes to what is going to happen right where you

what is going to happen right where you had this 300 million person state that

had this 300 million person state that was also an ideological empire that was

was also an ideological empire that was contender for global superpower had

contender for global superpower had nukes had fought the had won World War

nukes had fought the had won World War II and also told it people it was

II and also told it people it was eternal and it was going to win and so

eternal and it was going to win and so on and so forth then essentially denied

on and so forth then essentially denied it was going to fail until the very very

it was going to fail until the very very last days and it was brought apart by

last days and it was brought apart by both

both nationalist sentiments bubbling up like

nationalist sentiments bubbling up like Estonians wanted freedom but actually

Estonians wanted freedom but actually Russians also felt that they were being

Russians also felt that they were being oppressed by the Soviet Union. An

oppressed by the Soviet Union. An underappreciated thing is right at the

underappreciated thing is right at the end of the Soviet Union there was a

end of the Soviet Union there was a survey that came out that showed that

survey that came out that showed that Russians were down to 51% of the Soviet

Russians were down to 51% of the Soviet Union. Did you know that?

Union. Did you know that? >> No, I didn't know.

>> No, I didn't know. >> Yeah. So because of that, that was what

>> Yeah. So because of that, that was what stimulated a lot of Russians to get mad

stimulated a lot of Russians to get mad because they their implicit dominance of

because they their implicit dominance of the Soviet Union was going away. They

the Soviet Union was going away. They broke away. They got Russia. There is

broke away. They got Russia. There is 76% of Russia as opposed to 54% of the

76% of Russia as opposed to 54% of the Soviet Union.

Soviet Union. Okay? Okay. So they reestablish their

Okay? Okay. So they reestablish their ethnic majority by giving up their

ethnic majority by giving up their territory.

It's very important that you don't lose this. Okay. This is your inheritance

this. Okay. This is your inheritance through Bitcoin.

A >> let Bitcoin rip. Don't rip up your

>> let Bitcoin rip. Don't rip up your Bitcoin. set up inheritance with Casa

Bitcoin. set up inheritance with Casa [Music]

[Music] >> and we have these fears of ethnic

>> and we have these fears of ethnic minorities.

minorities. >> Yes.

>> Yes. >> In certainly across Europe. So

>> In certainly across Europe. So >> that's right. So, so if you give up

>> that's right. So, so if you give up empire like the Russians did, you might

empire like the Russians did, you might be able to have, if that's very

be able to have, if that's very important to you, an ethnic

important to you, an ethnic supermajority on reduced territory.

supermajority on reduced territory. >> Sure. But you can't you can't get away

>> Sure. But you can't you can't get away from the debt.

from the debt. >> You can't get away from the debt, right?

>> You can't get away from the debt, right? So, the thing is just trade-offs and

So, the thing is just trade-offs and everything, right? And this is going to

everything, right? And this is going to be something which is not no one's going

be something which is not no one's going to negotiate the best trade-off. They're

to negotiate the best trade-off. They're just going to hit the wall running at

just going to hit the wall running at 5,000 mph. And so, let me let's let's

5,000 mph. And so, let me let's let's game that out, right? What does that

game that out, right? What does that actually look like? So, Dolly has talked

actually look like? So, Dolly has talked about this. Lots of people have talked

about this. Lots of people have talked about different versions of

about different versions of hyperinflation,

hyperinflation, civil war, partition. Partition, Indian

civil war, partition. Partition, Indian partition, I think, is a better metaphor

partition, I think, is a better metaphor for what's going to come than civil war

for what's going to come than civil war in the US. And the reason is partition

in the US. And the reason is partition was like a messy Hindu versus Muslim

was like a messy Hindu versus Muslim tribal thing. It wasn't like organized

tribal thing. It wasn't like organized guys with like militaries and so and so.

guys with like militaries and so and so. There's just like I hit you, you hit me.

There's just like I hit you, you hit me. It's like BLM and J6. Like in many ways,

It's like BLM and J6. Like in many ways, that's what like America is becoming.

that's what like America is becoming. It's kind of like that tribal, right?

It's kind of like that tribal, right? Not organized. By the way, the first

Not organized. By the way, the first chatter around civil war has started

chatter around civil war has started happening in the UK, which I find wild.

happening in the UK, which I find wild. >> Just people even having that

>> Just people even having that conversation.

conversation. >> Yes.

>> Yes. >> But but it's now happening.

>> But but it's now happening. >> It's now happening unfortunately. Right.

>> It's now happening unfortunately. Right. So my my view is all right, let's just

So my my view is all right, let's just imagine all the people in the world and

imagine all the people in the world and they're walking around. You're an alien.

they're walking around. You're an alien. You're looking down the surface of of

You're looking down the surface of of the world and everybody's got like a a

the world and everybody's got like a a dashboard above their head and it's

dashboard above their head and it's their numbers. It's like their USD

their numbers. It's like their USD balance. It's their British pounds. It's

balance. It's their British pounds. It's their Bitcoin. It's their identity and

their Bitcoin. It's their identity and password. It's all these their numbers,

password. It's all these their numbers, right? All this stuff. Right

right? All this stuff. Right now, as they're moving around the world,

now, as they're moving around the world, now assume that their let's say just

now assume that their let's say just their fiat balance, their dollar balance

their fiat balance, their dollar balance goes to zero. Okay? Their USD balance.

goes to zero. Okay? Their USD balance. Okay? Moreover, all the contracts that

Okay? Moreover, all the contracts that they have that are denominated in USD go

they have that are denominated in USD go to zero, right? What happens? Well,

to zero, right? What happens? Well, first all of these particles moving

first all of these particles moving around the surface of Earth, they just

around the surface of Earth, they just kind of grind to a halt because the what

kind of grind to a halt because the what they were operating on, like the

they were operating on, like the assumptions they were operating on that

assumptions they were operating on that they had some money in the bank, they

they had some money in the bank, they were going to get more money in the

were going to get more money in the bank, that this contract was good, their

bank, that this contract was good, their customer relationships, their debts,

customer relationships, their debts, their employer, all of that has to be

their employer, all of that has to be completely reevaluated. What do I do

completely reevaluated. What do I do next to put food on the table? Okay.

next to put food on the table? Okay. Now, what doesn't go to zero are

Now, what doesn't go to zero are factories, hard assets, right? those

factories, hard assets, right? those like in a sense uh you know you know

like in a sense uh you know you know what a neutron bomb is?

what a neutron bomb is? >> Yeah, of course.

>> Yeah, of course. >> Yeah. So like in theory a neutron bomb

>> Yeah. So like in theory a neutron bomb kills people but not buildings, right?

kills people but not buildings, right? So you can you can just radiation, you

So you can you can just radiation, you know, like blast everybody in a zone and

know, like blast everybody in a zone and then you keep the buildings around. This

then you keep the buildings around. This is like something developed during the

is like something developed during the Cold War, right? At least that's the

Cold War, right? At least that's the theory about it. This is like a

theory about it. This is like a financial neutron bomb that just zeros

financial neutron bomb that just zeros out balances, but the people are still

out balances, but the people are still alive. They still got the skills and

alive. They still got the skills and knowledge in their head and the

knowledge in their head and the factories are still around. So we'll get

factories are still around. So we'll get US oligarchs.

US oligarchs. >> Well, so what's left? So, so you have so

>> Well, so what's left? So, so you have so gold still exists, right? Bitcoin still

gold still exists, right? Bitcoin still exists because fiat is gotten destroyed.

exists because fiat is gotten destroyed. Chinese factories still exist,

Chinese factories still exist, >> right? Because they've got the largest

>> right? Because they've got the largest scale footprint, right? And VHimar, like

scale footprint, right? And VHimar, like Germany was able to reboot after VHimar

Germany was able to reboot after VHimar because they had all these scaled

because they had all these scaled factories, right? Germany was still a

factories, right? Germany was still a manufacturing Goliath in the 1930s. So

manufacturing Goliath in the 1930s. So they could just kind of re even if

they could just kind of re even if people's stored points from you know the

people's stored points from you know the the Deutsch mark uh or the mark in in

the Deutsch mark uh or the mark in in the 20s were wiped out they still had

the 20s were wiped out they still had productive capacity they had

productive capacity they had organization they could reboot their

organization they could reboot their economy in the 30s and build into a war

economy in the 30s and build into a war machine right um so they had enough

machine right um so they had enough social cohesion that they could and and

social cohesion that they could and and a strong enough you know uh eventually

a strong enough you know uh eventually unfortunately central government they

unfortunately central government they could reboot right but if you have

could reboot right but if you have something like Latin American conditions

something like Latin American conditions which is more what America is like Hey,

which is more what America is like Hey, after an inflation, everybody no longer

after an inflation, everybody no longer trusts each other. They they're not

trusts each other. They they're not going to get together and and like trust

going to get together and and like trust again to reboot a currency. Okay.

again to reboot a currency. Okay. Moreover, after the US loses a reserve

Moreover, after the US loses a reserve currency, it's not like what people

currency, it's not like what people reboot on is going to be America again.

reboot on is going to be America again. That'll be the final betrayal, right?

That'll be the final betrayal, right? Delaware got rugpulled. FBI got

Delaware got rugpulled. FBI got rugpulled. Tariffs, they got rugpulled.

rugpulled. Tariffs, they got rugpulled. The courts, they got rugpulled. The

The courts, they got rugpulled. The media, they got rugpulled. Everybody who

media, they got rugpulled. Everybody who trusted any US institution got

trusted any US institution got rugpulled. And then if you trust a US

rugpulled. And then if you trust a US bank account, that's like that's like

bank account, that's like that's like the final rug pull, right?

the final rug pull, right? So but when it gets rebooted afterwards

So but when it gets rebooted afterwards see technologically the dollar is not

see technologically the dollar is not the best tech stack a is slow like in

the best tech stack a is slow like in Europe you've got SEPA you've got better

Europe you've got SEPA you've got better payments right technologically like you

payments right technologically like you know in Southeast Asia in China in India

know in Southeast Asia in China in India they've got UPI and in China they've got

they've got UPI and in China they've got WeChat you know Brazil has Poguro all

WeChat you know Brazil has Poguro all these things were built internet first

these things were built internet first so there's better payment systems both

so there's better payment systems both for both consumer and business payments

for both consumer and business payments on the rest of the world than there are

on the rest of the world than there are in the US the only thing the US has

in the US the only thing the US has going for it is legacy everybody's

going for it is legacy everybody's plugged into If that gets zeroed out and

plugged into If that gets zeroed out and you have to reboot the system, you're

you have to reboot the system, you're definitely not going to put the US back

definitely not going to put the US back at the center of it, right? So

at the center of it, right? So you're going to have something where all

you're going to have something where all kinds of economies

kinds of economies get jarred and then the ones that have

get jarred and then the ones that have the most gold, the ones that have the

the most gold, the ones that have the most digital gold, the ones have the

most digital gold, the ones have the most factories and so on can reboot

most factories and so on can reboot because in a sense it's just like you

because in a sense it's just like you know whether like the day after that

know whether like the day after that happens points get zeroed out but a week

happens points get zeroed out but a week later a month later a year later

later a month later a year later contracts start getting signed in ounces

contracts start getting signed in ounces of gold or Satoshi's the factory still

of gold or Satoshi's the factory still exists. the knowledge of how to operate

exists. the knowledge of how to operate those factories still exist that isn't

those factories still exist that isn't getting zeroed out, right? So you think

getting zeroed out, right? So you think about what inflation does. It destroys

about what inflation does. It destroys like the coordination mechanism between

like the coordination mechanism between people but doesn't necessarily destroy

people but doesn't necessarily destroy the knowledge in their heads or the

the knowledge in their heads or the goods or you know the power plants don't

goods or you know the power plants don't stop working and so on and so forth.

stop working and so on and so forth. What does happen though is if you think

What does happen though is if you think of like America as a system which

of like America as a system which depends on all these nutrients flowing

depends on all these nutrients flowing into it from abroad, you know, shoes

into it from abroad, you know, shoes from Vietnam and so all of that comes to

from Vietnam and so all of that comes to a crashing halt,

a crashing halt, right? Because the US has nothing to

right? Because the US has nothing to trade for that stuff, right? And it

trade for that stuff, right? And it doesn't have domestic manufacturing,

doesn't have domestic manufacturing, right? And it's probably also going to

right? And it's probably also going to be really mad at its tech guys because

be really mad at its tech guys because they'll say AI has taken all the jobs

they'll say AI has taken all the jobs and Bitcoin's taken all the money and

and Bitcoin's taken all the money and the tech guys will take all the blame

the tech guys will take all the blame because you know most of the violence in

because you know most of the violence in the 20th century was actually on the

the 20th century was actually on the base of class not race you know that's

base of class not race you know that's what communism was on the base of class

what communism was on the base of class right so the entrepreneurs the kulocks

right so the entrepreneurs the kulocks the land owners were killed and attacked

the land owners were killed and attacked in many many countries right and so the

in many many countries right and so the tech guys in America I would definitely

tech guys in America I would definitely not want to be an immigrant in America I

not want to be an immigrant in America I wouldn't want to be a tech guy America

wouldn't want to be a tech guy America and definitely wouldn't want to be an

and definitely wouldn't want to be an immigrant tech guy in America over the

immigrant tech guy in America over the next 10 years because you'll be very

next 10 years because you'll be very publicly blamed for all of this. I think

publicly blamed for all of this. I think that's the third coalition by the way.

that's the third coalition by the way. >> Sorry. 10 years. So do you think this is

>> Sorry. 10 years. So do you think this is going to become very obvious in the next

going to become very obvious in the next 10 years because I don't think it's of

10 years because I don't think it's of obvious net. I think the I think Trump

obvious net. I think the I think Trump just signed in for the party to continue

just signed in for the party to continue for a little bit longer.

for a little bit longer. >> Yeah. I don't it's the hardest thing to

>> Yeah. I don't it's the hardest thing to do is figure out timing on everything.

do is figure out timing on everything. These things happen slower than you can

These things happen slower than you can believe and then faster than you can

believe and then faster than you can imagine, you know. So, but let me show

imagine, you know. So, but let me show you this which is like just over the

you this which is like just over the last

last few weeks

like yield spiking in western these are all western aligned countries. This is

all western aligned countries. This is the opposite is happening in China.

the opposite is happening in China. China has yields at all-time lows.

China has yields at all-time lows. >> So people are putting money into China

>> So people are putting money into China because they think it's a good credit

because they think it's a good credit risk.

risk. >> Okay. But US, Germany, Japan, it's

>> Okay. But US, Germany, Japan, it's spiking. Okay. Um

spiking. Okay. Um >> it's down to 0% in Switzerland as well.

>> it's down to 0% in Switzerland as well. >> Yeah. Interestingly,

>> Yeah. Interestingly, >> that's right. Here is the dollar

>> that's right. Here is the dollar crashing versus other countries.

crashing versus other countries. >> Yeah.

>> Yeah. >> Here is gold spiking and here is Bitcoin

>> Here is gold spiking and here is Bitcoin spiking. Right. So, that to me shows

spiking. Right. So, that to me shows essentially like

essentially like >> reality.

>> reality. >> Reality. That's right.

>> Reality. That's right. >> You can't hide from it.

>> You can't hide from it. >> You cannot hide from that. That's right.

>> You cannot hide from that. That's right. >> So, two final things. Concures of time.

>> So, two final things. Concures of time. Take as much or little as you want to

Take as much or little as you want to answer. But another thing I've observed

answer. But another thing I've observed in the UK is we've had this uh driftable

in the UK is we've had this uh driftable socialism. And when I mention that on

socialism. And when I mention that on Twitter, people like you're an idiot.

Twitter, people like you're an idiot. This isn't socialism, but what I think

This isn't socialism, but what I think is this backdoor socialism. I know that

is this backdoor socialism. I know that our government knows they can't go in

our government knows they can't go in and just take control of companies

and just take control of companies unless they're collapsing in a financial

unless they're collapsing in a financial crisis as they've done. But they can't

crisis as they've done. But they can't go and mandate we own 51% of every

go and mandate we own 51% of every company. So I think the form of

company. So I think the form of socialism we have is backdoor socialism

socialism we have is backdoor socialism where they control the companies through

where they control the companies through regulation, through speech control,

regulation, through speech control, through taxation, through every single

through taxation, through every single way they can to get people to do exactly

way they can to get people to do exactly what they want. So it's kind of a

what they want. So it's kind of a backdoor socialism. And then I think

backdoor socialism. And then I think we're seeing that in society. We're

we're seeing that in society. We're seeing uh uh this kind of uh leftist

seeing uh uh this kind of uh leftist demonization of wealth. Uh this demand

demonization of wealth. Uh this demand for more taxes, wealth taxes, all these

for more taxes, wealth taxes, all these things that we think are stupid. I think

things that we think are stupid. I think there's similar things happening in the

there's similar things happening in the US. And I what I've kind of observed is

US. And I what I've kind of observed is that the UK, maybe Europe and the US

that the UK, maybe Europe and the US is on a trajectory to what China's

is on a trajectory to what China's doing, but doing it badly. We're bad at

doing, but doing it badly. We're bad at control. We're bad communism. And so why

control. We're bad communism. And so why try and compete with them on something

try and compete with them on something we're bad at? What we're good at is

we're bad at? What we're good at is freedom.

freedom. >> Exactly.

>> Exactly. >> We should compete on freedom, free

>> We should compete on freedom, free markets, deregulation, Bitcoin.

markets, deregulation, Bitcoin. And that's kind of like that's my

And that's kind of like that's my guiding light of the only way we save us

guiding light of the only way we save us if we m if we if we become freedom

if we m if we if we become freedom maximalist.

maximalist. >> That's right. So so I would say I would

>> That's right. So so I would say I would I would agree with all that except for

I would agree with all that except for maximalist. And the reason I say that is

maximalist. And the reason I say that is if you're m So

if you're m So >> Okay. Sorry. Yeah. Because I'm not

>> Okay. Sorry. Yeah. Because I'm not anarchist.

anarchist. >> Well, well, yeah. Yeah. Exactly. So, so

>> Well, well, yeah. Yeah. Exactly. So, so the thing is, did I tell you my parable

the thing is, did I tell you my parable of like the westest?

of like the westest? >> No. So, here's just like a fun, you

>> No. So, here's just like a fun, you know, thought experiment, right? Imagine

know, thought experiment, right? Imagine a group of people and they call

a group of people and they call themselves west. Why? They like the idea

themselves west. Why? They like the idea of California. So, they keep going, they

of California. So, they keep going, they get a group, they start going west to

get a group, they start going west to California and they make it to

California and they make it to California. And, however, rather than

California. And, however, rather than just being happy that they're in

just being happy that they're in California, a group of them wants to

California, a group of them wants to keep going west to drown in the Pacific

keep going west to drown in the Pacific Ocean. And when the rest object, they

Ocean. And when the rest object, they say, "What are you an eastest cuck now?"

say, "What are you an eastest cuck now?" Right? And so that is something where if

Right? And so that is something where if you look at the kind of utility

you look at the kind of utility function, it went all the way up until

function, it went all the way up until it got to California and then it went

it got to California and then it went sharply down where they any good thing

sharply down where they any good thing can be taken to an extreme till it

can be taken to an extreme till it becomes a bad thing.

becomes a bad thing. >> Mhm.

>> Mhm. >> Right. Like the dose makes a poison.

>> Right. Like the dose makes a poison. Like water is good for you, but if you

Like water is good for you, but if you drank 50 liters in a day, you'd have

drank 50 liters in a day, you'd have problems, right? So everything good can

problems, right? So everything good can be taken to an extreme, which is why I'm

be taken to an extreme, which is why I'm I would never call myself a maximalist,

I would never call myself a maximalist, but an optimalist. There's like an

but an optimalist. There's like an optimum number of something. Yeah. And

optimum number of something. Yeah. And that optimum may be different from

that optimum may be different from person to person. With that said though,

person to person. With that said though, I basically agree with you that in many

I basically agree with you that in many ways in the in the 80s the way the USSR

ways in the in the 80s the way the USSR fell is it started copying America

fell is it started copying America rather than doing its own thing. It

rather than doing its own thing. It started it did you know paristrika and

started it did you know paristrika and it did glazance. free speech and free

it did glazance. free speech and free markets and it tried to be a copy of

markets and it tried to be a copy of America and it was a terrible copy of

America and it was a terrible copy of America, right?

America, right? >> And since 2015, America's tried to copy

>> And since 2015, America's tried to copy China where it's put restrictions on

China where it's put restrictions on free speech with internet censorship.

free speech with internet censorship. It's putting restrictions on free

It's putting restrictions on free markets with tariffs, right? It's trying

markets with tariffs, right? It's trying to be it's obsessed with Taiwan just

to be it's obsessed with Taiwan just like China is obsessed with, you know,

like China is obsessed with, you know, like institutional

like institutional um like a like a gosh industrial policy

um like a like a gosh industrial policy like China is, right? But it's a

like China is, right? But it's a terrible China. China is a much better

terrible China. China is a much better China than America. Just like America,

China than America. Just like America, the America is a much better America

the America is a much better America than the than the Soviet Union. Right.

than the than the Soviet Union. Right. >> Diet Coke is a much worse Coke.

>> Diet Coke is a much worse Coke. >> That's right. So So instead, the

>> That's right. So So instead, the internet is the opposite of China. So

internet is the opposite of China. So that's what you and I are saying, right?

that's what you and I are saying, right? Which is free speech, free markets, um

Which is free speech, free markets, um consent of the government. Right.

consent of the government. Right. >> The right I got it here. The right to

>> The right I got it here. The right to act freely within a moral or legal

act freely within a moral or legal framework.

framework. >> Correct. That's right. So So I think the

>> Correct. That's right. So So I think the way we rebuild the world is around

way we rebuild the world is around consent and volunteerism. So that's why

consent and volunteerism. So that's why I'm I'm doing NS, you know, network

I'm I'm doing NS, you know, network state, network school, ns.com, right?

state, network school, ns.com, right? Where um I want to show that you can

Where um I want to show that you can take these cloud communities and they

take these cloud communities and they can consent to materializing in person,

can consent to materializing in person, right?

right? >> And uh we can play a clip of what we're

>> And uh we can play a clip of what we're doing and if you want to play that,

doing and if you want to play that, right?

right? >> Well, you just send us we'll put it in.

>> Well, you just send us we'll put it in. >> Yeah, I'll play some clips so you can

>> Yeah, I'll play some clips so you can see what we're doing, right? And um

see what we're doing, right? And um essentially the concept is all right, so

essentially the concept is all right, so if the old world's ending, we can be

if the old world's ending, we can be total doomers, but I'm a doomer

total doomers, but I'm a doomer optimist. I'm like I'm a doomer on the

optimist. I'm like I'm a doomer on the old world and an optimist on the new

old world and an optimist on the new one, right? I'm an optimist on the

one, right? I'm an optimist on the internet. So what does an internet first

internet. So what does an internet first society look like? So first is cloud

society look like? So first is cloud first land last but not land never.

first land last but not land never. Okay? So you start with the cloud

Okay? So you start with the cloud community and then you materialize into

community and then you materialize into the physical world. And that's what the

the physical world. And that's what the network state book is about at the

network state book is about at the networkstate.com.

networkstate.com. And the the concept there is you're

And the the concept there is you're spending more time online than you are

spending more time online than you are in the physical world. Often like many

in the physical world. Often like many people don't know their neighbors, but

people don't know their neighbors, but they know their internet neighbors,

they know their internet neighbors, right? Those are their real friends. And

right? Those are their real friends. And rather than just bitching about politics

rather than just bitching about politics all the time, it's easy to do that.

all the time, it's easy to do that. What's hard to do is actually to

What's hard to do is actually to organize people in the physical world.

organize people in the physical world. One issue with this, and this is why I'm

One issue with this, and this is why I'm not a maximalist on things. Um, we were

not a maximalist on things. Um, we were talking about this the other day, but

talking about this the other day, but individually alpha is collectively beta.

individually alpha is collectively beta. >> Yeah.

>> Yeah. >> Right. If you have a bunch of guys who

>> Right. If you have a bunch of guys who all think of themselves as super alpha

all think of themselves as super alpha males, they can't cooperate. And if they

males, they can't cooperate. And if they can't cooperate, they can't get anything

can't cooperate, they can't get anything done together. And then that means

done together. And then that means they're collectively weak. Even if

they're collectively weak. Even if they're ostensibly individually strong,

they're ostensibly individually strong, they might be able to punch somebody,

they might be able to punch somebody, they can't build something, right? So a

they can't build something, right? So a big part of internet first is figuring

big part of internet first is figuring out how to reestablish cooperation,

out how to reestablish cooperation, reestablish leadership, reestablish

reestablish leadership, reestablish positive some behavior, materialize a

positive some behavior, materialize a cloud into land. Start literally with a

cloud into land. Start literally with a co-l livingiving house and just start

co-l livingiving house and just start expanding from there, right? Establish a

expanding from there, right? Establish a zone of peace and then broaden it,

zone of peace and then broaden it, right? A zone of civility where people

right? A zone of civility where people are not dicks to each other, you know,

are not dicks to each other, you know, they're not cursing at each other

they're not cursing at each other online, you know, like they are online.

online, you know, like they are online. There there's inperson level civility.

There there's inperson level civility. There's cooperation. there may be a

There's cooperation. there may be a common cryptocurrency or a common

common cryptocurrency or a common company or something like that that

company or something like that that unifies them and they're all same team,

unifies them and they're all same team, right? And then you grow that and you

right? And then you grow that and you grow that and you grow that until you

grow that and you grow that until you can crowdfund more and more territory.

can crowdfund more and more territory. Right. Well, what you what you've done

Right. Well, what you what you've done is people where people have found their

is people where people have found their cohort online, you've brought them

cohort online, you've brought them together.

together. >> Yes.

>> Yes. >> And so one of the interesting things is

>> And so one of the interesting things is whilst we've been here, I've been online

whilst we've been here, I've been online less because I've been mixing with the

less because I've been mixing with the people here that even though

people here that even though >> they're interesting people to talk to.

>> they're interesting people to talk to. Well, so like Lucas, I was chatting to

Well, so like Lucas, I was chatting to even

even >> we're we're very similar even though

>> we're we're very similar even though we're from completely different

we're from completely different countries because we have a kind of like

countries because we have a kind of like a framework that comes from Bitcoin

a framework that comes from Bitcoin where the way we think about the world

where the way we think about the world and business and so it's kind of

and business and so it's kind of interesting.

interesting. >> That's right.

>> That's right. >> Yeah,

>> Yeah, >> that's right. And so Bitcoin is rising,

>> that's right. And so Bitcoin is rising, the internet is rising and that is the

the internet is rising and that is the successor to America and the West as

successor to America and the West as America and the West were the successor

America and the West were the successor to Britain and Europe.

to Britain and Europe. It's a decentralized successor.

It's a decentralized successor. >> That's right. And I think we go from the

>> That's right. And I think we go from the two-party system to the thousand

two-party system to the thousand community system

community system >> and for example today it's conventional

>> and for example today it's conventional at age 18 to pick your college. I think

at age 18 to pick your college. I think tomorrow it'll be conventional to pick

tomorrow it'll be conventional to pick your community or your country. It's so

your community or your country. It's so funny you should say that. We were

funny you should say that. We were talking you know when we were uh you

talking you know when we were uh you know you were walking us around and I

know you were walking us around and I said to you I had that moment and I said

said to you I had that moment and I said oh so kind of working for me is like on

oh so kind of working for me is like on the farm and you mentioned about the

the farm and you mentioned about the DNA.

DNA. >> Yes.

>> Yes. >> And afterwards we were talking go

>> And afterwards we were talking go figure.

figure. >> No you explain that for the audience.

>> No you explain that for the audience. >> Yeah sure. Sure. So what I meant is what

>> Yeah sure. Sure. So what I meant is what I said is in the 1800s like Jebidai and

I said is in the 1800s like Jebidai and Abigail would have like 10 kids and

Abigail would have like 10 kids and they'd all go and work on the farm but

they'd all go and work on the farm but because they had a genetic equity stake

because they had a genetic equity stake DNA you know 50% equity stake in a sense

DNA you know 50% equity stake in a sense and obviously I'm being flipped but it's

and obviously I'm being flipped but it's like a funny way of thinking about it

like a funny way of thinking about it they love the kids they were not going

they love the kids they were not going to work them too hard by the late 1800s

to work them too hard by the late 1800s once you had the you know the rise of

once you had the you know the rise of industrial revolution in factories and

industrial revolution in factories and you had child labor in the factories you

you had child labor in the factories you had denian conditions where the cos of

had denian conditions where the cos of those factories didn't have the same

those factories didn't have the same love for the kids the parents dead as

love for the kids the parents dead as they worked them too hard and being

they worked them too hard and being children they couldn't reasonably

children they couldn't reasonably consent. They were too young to

consent. They were too young to understand it. Right? So hence child

understand it. Right? So hence child labor laws arose which were

labor laws arose which were well-intentioned the time. But that

well-intentioned the time. But that began a long period of infantilization

began a long period of infantilization where kids who had previously been

where kids who had previously been considered to be able to work as soon as

considered to be able to work as soon as they were able to do so now had a longer

they were able to do so now had a longer and longer period of infantilization and

and longer period of infantilization and then adolescence. And now you get to the

then adolescence. And now you get to the point where like you're on your parents'

point where like you're on your parents' health insurance till your mid late 20s

health insurance till your mid late 20s or what have you and you're, you know,

or what have you and you're, you know, maybe in school until your 30s if you're

maybe in school until your 30s if you're a doctor and like half your life is over

a doctor and like half your life is over before you do anything, right? So the

before you do anything, right? So the correction to that I think is we go back

correction to that I think is we go back to the future and internships are in a

to the future and internships are in a sense the new apprenticeships and people

sense the new apprenticeships and people are starting and doing coding or things

are starting and doing coding or things like that at home. Similar to being on

like that at home. Similar to being on the farm, these kids are at home in a

the farm, these kids are at home in a friendly environment. They can't be hurt

friendly environment. They can't be hurt by hitting keys online for the most part

by hitting keys online for the most part if they're supervised. And now they can

if they're supervised. And now they can start doing tasks, they can start making

start doing tasks, they can start making money and so and start leveling up. And

money and so and start leveling up. And that is an educational system where they

that is an educational system where they can proceed at their own pace rather

can proceed at their own pace rather than having 13 years of K through 12.

than having 13 years of K through 12. Maybe they can get it done in 13 weeks,

Maybe they can get it done in 13 weeks, right? Because obviously there's no such

right? Because obviously there's no such thing as a 30-year-old really. A

thing as a 30-year-old really. A 30-year-old can be in jail or they can

30-year-old can be in jail or they can be leading a company or what have you.

be leading a company or what have you. There's huge gaps. Even at age 18,

There's huge gaps. Even at age 18, there's huge gaps. The entire like

there's huge gaps. The entire like Prussian system that's, you know, the K

Prussian system that's, you know, the K through2 system is actually inherited

through2 system is actually inherited from Germany was meant to like stabilize

from Germany was meant to like stabilize people for a centralized state. It

people for a centralized state. It wasn't meant to level up the individual

wasn't meant to level up the individual as quickly as possible, right? And to

as quickly as possible, right? And to train them in in the fastest way for

train them in in the fastest way for their their abilities. So, so I think

their their abilities. So, so I think education gets completely transformed

education gets completely transformed via internet first. And it looks more

via internet first. And it looks more like 1800s and 1700s America. There's

like 1800s and 1700s America. There's actually this great book uh called a

actually this great book uh called a craft apprentice which talks about how

craft apprentice which talks about how apprenticeship worked in Ben Franklin's

apprenticeship worked in Ben Franklin's time. I think we're going to come back

time. I think we're going to come back to something like that. Well, so I'm

to something like that. Well, so I'm thinking in terms of my daughter's 15,

thinking in terms of my daughter's 15, right?

right? >> And so we are six years away from her

>> And so we are six years away from her finishing university and I've seen just

finishing university and I've seen just the rapid change in say J Chat GPD not

the rapid change in say J Chat GPD not in three years just a year

in three years just a year >> and how can you plan for 6 years time

>> and how can you plan for 6 years time when you don't know what's going to

when you don't know what's going to happen in the next two years but the one

happen in the next two years but the one thing that we were talking about and I

thing that we were talking about and I think you know became very clear to me

think you know became very clear to me is is I'm not thinking about where she

is is I'm not thinking about where she should go to university. I'm thinking

should go to university. I'm thinking about the the basic uh framework of

about the the basic uh framework of education she should have which is I

education she should have which is I think

think >> philosophical

>> philosophical >> but also what is going to be her

>> but also what is going to be her community where she it's where should

community where she it's where should she be right what community should she

she be right what community should she be located in what's she going to take

be located in what's she going to take from that community

from that community >> and it's it's a big shift it's been a

>> and it's it's a big shift it's been a gradual shift where I've kind of

gradual shift where I've kind of realized something's wrong for the last

realized something's wrong for the last year two years and a very quick shift by

year two years and a very quick shift by been being here at network school

been being here at network school >> right where I was like huh this is

>> right where I was like huh this is community. Exactly. This is more than

community. Exactly. This is more than just, you know, it it's it's interactive

just, you know, it it's it's interactive educational sessions. It's it's just a

educational sessions. It's it's just a better way of learning. I think that's

better way of learning. I think that's right. And I think, you know, to be

right. And I think, you know, to be clear, uh Harvard started as a one room

clear, uh Harvard started as a one room schoolhouse, right? So everything, you

schoolhouse, right? So everything, you know, Google started in a garage,

know, Google started in a garage, Facebook started in a dorm room, Bitcoin

Facebook started in a dorm room, Bitcoin started as a white paper, right? So, you

started as a white paper, right? So, you know, we have modest beginnings. We do

know, we have modest beginnings. We do have ambitions, but you know, I would

have ambitions, but you know, I would consider us modest right now. With that

consider us modest right now. With that said, I think internet first learning is

said, I think internet first learning is important. AI means that wrote learning

important. AI means that wrote learning is just less, you know, you people can

is just less, you know, you people can teachers can make AI exams and kids can

teachers can make AI exams and kids can fake AI answers. Is that really

fake AI answers. Is that really valuable? What if instead we move to

valuable? What if instead we move to tasks and skills, right? Where you

tasks and skills, right? Where you complete tasks and you learn skills on

complete tasks and you learn skills on demand. Um, I think that's where we're

demand. Um, I think that's where we're going to go. That's what we're going to

going to go. That's what we're going to do here. And those tasks can be

do here. And those tasks can be completed even if they're 6 years old, 7

completed even if they're 6 years old, 7 years old with parental supervision. And

years old with parental supervision. And they can compete against a 16-year-old

they can compete against a 16-year-old or a 26-y old and they're all just

or a 26-y old and they're all just submitting things over the internet.

submitting things over the internet. they can use as much AI as they want and

they can use as much AI as they want and they add the skills as as they're going

they add the skills as as they're going right and I think that is part of the

right and I think that is part of the vision of network school and their

vision of network school and their vision is you mentioned choosing your

vision is you mentioned choosing your community right and in fact when people

community right and in fact when people pick their college they're implicitly

pick their college they're implicitly often picking their community their

often picking their community their company and their country you know why

company and their country you know why >> well especially you know for millions of

>> well especially you know for millions of engineers from India at least certainly

engineers from India at least certainly probably tens of thousands hundreds of

probably tens of thousands hundreds of thousands probably millions over the

thousands probably millions over the last 20 30 years from India from China

last 20 30 years from India from China from other places when they were age

from other places when they were age let's say 21 they would apply to

let's say 21 they would apply to Stanford or MIT or something like that

Stanford or MIT or something like that for their master's degree in electrical

for their master's degree in electrical engineering and they would come in on an

engineering and they would come in on an F1 student visa then they would go to a

F1 student visa then they would go to a company and they'd get an H-1B visa and

company and they'd get an H-1B visa and then they go to the country level to get

then they go to the country level to get a green card or a permanent residency

a green card or a permanent residency right so going to the college the

right so going to the college the company and the country was actually a

company and the country was actually a unified thing that's one of the reasons

unified thing that's one of the reasons they worked really hard is to get that

they worked really hard is to get that citizenship right now that path is being

citizenship right now that path is being cut off but you could reinvision that as

cut off but you could reinvision that as an actual offering, a full stack thing

an actual offering, a full stack thing because before they would have to system

because before they would have to system integrate all those pieces since it's

integrate all those pieces since it's three different it's like you know the

three different it's like you know the university and the company and the

university and the company and the country are all disaligned admissions

country are all disaligned admissions departments they don't care about each

departments they don't care about each other and so on but if you integrated

other and so on but if you integrated them into a talent recruitment thing

them into a talent recruitment thing where you're thinking about recruiting

where you're thinking about recruiting people picking their college company and

people picking their college company and effectively their community you could

effectively their community you could absolutely do that so the point being

absolutely do that so the point being we've already sort of beta tested the

we've already sort of beta tested the idea of picking your country at age 18

idea of picking your country at age 18 for millions of smart people and it

for millions of smart people and it worked right and you know I a oneliner

worked right and you know I a oneliner which is like you know there's 500,000

which is like you know there's 500,000 Brits who've gone to Abu Dhabi or Dubai.

Brits who've gone to Abu Dhabi or Dubai. It doesn't surprise me. Yeah. It's like

It doesn't surprise me. Yeah. It's like and you know there's a bunch of Brits

and you know there's a bunch of Brits here you know like um here at network

here you know like um here at network school we have uh we were talking about

school we have uh we were talking about Kanzuk right Canada, Australia, New

Kanzuk right Canada, Australia, New Zealand UK is 140 million people and

Zealand UK is 140 million people and they're not MAGA obviously because

they're not MAGA obviously because they're not American. And in fact Trump

they're not American. And in fact Trump basically signal to Canadian

basically signal to Canadian conservatives that he wants to invade

conservatives that he wants to invade Canada and he's being friendly to

Canada and he's being friendly to British conservatives. So like he he

British conservatives. So like he he hasn't built a global conservative or

hasn't built a global conservative or libertarian union because they're so

libertarian union because they're so anti-globalist they took it literally

anti-globalist they took it literally where it's not just Americans it's not

where it's not just Americans it's not just conservative it's only conservative

just conservative it's only conservative Americans which means it's like a tiny

Americans which means it's like a tiny fraction of the world there's 77 million

fraction of the world there's 77 million MAGA versus a billion people in the

MAGA versus a billion people in the world it's only like 1% of the world

world it's only like 1% of the world right they could have built a larger

right they could have built a larger coalition but they decided not to do

coalition but they decided not to do that fine so the Kanzuks are who are

that fine so the Kanzuks are who are neither woke nor MAGA are who are pro

neither woke nor MAGA are who are pro internet pro crypto like NS is for them

internet pro crypto like NS is for them right And frankly, anybody who's neither

right And frankly, anybody who's neither woke nor extreme MAGA, NS is is good for

woke nor extreme MAGA, NS is is good for them, right? And uh that's that means

them, right? And uh that's that means like the Chinese capitalist party,

like the Chinese capitalist party, meaning the crypto Chinese, right? The

meaning the crypto Chinese, right? The Bitcoin Chinese. Um those are the people

Bitcoin Chinese. Um those are the people who don't want to be under communism.

who don't want to be under communism. They leave China. Those, you know, we're

They leave China. Those, you know, we're for them. We're for the internet

for them. We're for the internet Indians. We're for the, you know,

Indians. We're for the, you know, builders in the Midwest and we're for

builders in the Midwest and we're for builders in the Middle East and Eastern

builders in the Middle East and Eastern Europe and Latin America and so on and

Europe and Latin America and so on and so forth. All these people are in this,

so forth. All these people are in this, you know, they're neither fully aligned

you know, they're neither fully aligned with the Chinese state, nor are they,

with the Chinese state, nor are they, you know, not they're not aligned with

you know, not they're not aligned with the Chinese state, nor are they trying

the Chinese state, nor are they trying to um like rebuild the American state.

to um like rebuild the American state. They're into the decentralized network,

They're into the decentralized network, the global network, right? And I think

the global network, right? And I think we can build a large coalition of

we can build a large coalition of people. We've got people from almost 100

people. We've got people from almost 100 countries here and they speak every

countries here and they speak every language and it's international and it's

language and it's international and it's capitalist. That's what internet first

capitalist. That's what internet first means to me. And if you think about

means to me. And if you think about that, like you know, Britain was a union

that, like you know, Britain was a union because it was, you know, the United

because it was, you know, the United Kingdom of England, Scotland, Wales, and

Kingdom of England, Scotland, Wales, and Northern Ireland. Then you had the

Northern Ireland. Then you had the United States of America. And I think

United States of America. And I think we're going to have the network states

we're going to have the network states of the internet.

of the internet. >> Yes. I met um James. He talked about

>> Yes. I met um James. He talked about he's building a layer 2 network here,

he's building a layer 2 network here, which just blew my mind.

which just blew my mind. >> Okay. One British guy. Yeah. British

>> Okay. One British guy. Yeah. British guy. Well, he's Yeah. Um so, one more

guy. Well, he's Yeah. Um so, one more quick question and then we will finish.

quick question and then we will finish. Um

Um it's a very complex world. Uh do you

it's a very complex world. Uh do you think the world has got too complex for

think the world has got too complex for humans to handle and understand in that

humans to handle and understand in that there's too much information, too much

there's too much information, too much choice? And if that's the case, how do

choice? And if that's the case, how do we adjust? So

we adjust? So I think you and I drink in information

I think you and I drink in information and organize it essentially for a

and organize it essentially for a living. And I find that the onrush of

living. And I find that the onrush of new information and changes in the world

new information and changes in the world are something where I have to sit and

are something where I have to sit and think and map things out and organize

think and map things out and organize them and so on and so forth. So for

them and so on and so forth. So for people who don't have the disposition of

people who don't have the disposition of a professional researcher or something

a professional researcher or something like that, I can imagine them just

like that, I can imagine them just trying to tune out and hope things go as

trying to tune out and hope things go as they are and so on and so forth. And so

they are and so on and so forth. And so I don't really have a great

I don't really have a great answer for that

answer for that other than to say like with great

other than to say like with great leadership, you know, hopefully there's

leadership, you know, hopefully there's people who can reestablish order and

people who can reestablish order and stability, but we're in a time where

stability, but we're in a time where things are just moving so fast like

things are just moving so fast like this, right? I I think the best strategy

this, right? I I think the best strategy is to figure out what locations are

is to figure out what locations are going to be in good shape in five or 10

going to be in good shape in five or 10 or 15 years that have good debt to GDP

or 15 years that have good debt to GDP that have low crime, very low crime,

that have low crime, very low crime, that have high rates of social

that have high rates of social stability, and those will be the ones

stability, and those will be the ones that can endure the downtimes, right? If

that can endure the downtimes, right? If there's cars being set on fire in that

there's cars being set on fire in that state like there are in California, if

state like there are in California, if there's like stabbings and bombings and

there's like stabbings and bombings and you know if there's a lot of people

you know if there's a lot of people fighting on the internet all the time,

fighting on the internet all the time, probably not a good place to be. If

probably not a good place to be. If however it's like El Salvador or Dubai

however it's like El Salvador or Dubai or Singapore or actually you know I

or Singapore or actually you know I would personally if you know I would I

would personally if you know I would I would take India like I I I prefer to

would take India like I I I prefer to spend time in Bangalore over um like LA

spend time in Bangalore over um like LA right it's safe I feel safer there right

right it's safe I feel safer there right I there's there not like the meth

I there's there not like the meth addicts on the streets it's like it's

addicts on the streets it's like it's it's a society on the way up one way of

it's a society on the way up one way of thinking about it is I think

thinking about it is I think >> of India for its faults it's almost like

>> of India for its faults it's almost like California in reverse do I explain Yeah,

California in reverse do I explain Yeah, I understand that.

I understand that. >> Yeah. So, everything new in India, it's

>> Yeah. So, everything new in India, it's like an Apple store and the old stuff

like an Apple store and the old stuff are the shanty towns and so on, but it's

are the shanty towns and so on, but it's like improving all the time if we saw

like improving all the time if we saw those graphics and everything new in

those graphics and everything new in California is a shanty town and what's

California is a shanty town and what's old are these beautiful buildings,

old are these beautiful buildings, right? So, you can point to things that

right? So, you can point to things that look really shabby in India and really

look really shabby in India and really beautiful in California, but you're

beautiful in California, but you're pointing to the old stuff in India and

pointing to the old stuff in India and and and uh you know that looks bad and

and and uh you know that looks bad and the old stuff in California, but the new

the old stuff in California, but the new stuff in India looks much much better.

stuff in India looks much much better. Right.

Right. >> Overizon and decline.

>> Overizon and decline. >> Yeah. Exactly. But it's fractal. Yeah.

>> Yeah. Exactly. But it's fractal. Yeah. Right. And so because it's a fractal,

Right. And so because it's a fractal, people can be in denial about it until

people can be in denial about it until it's no longer fractal. Like that say,

it's no longer fractal. Like that say, there's lots of little clusters of good

there's lots of little clusters of good and bad in both places, but the good is

and bad in both places, but the good is growing in India and the bad is growing

growing in India and the bad is growing in California. Right? So I think that's

in California. Right? So I think that's for the person who is unable to keep up

for the person who is unable to keep up with everything. You know, Dalio has

with everything. You know, Dalio has also talked about this. He said it in

also talked about this. He said it in the most abstract way. Did you see how

the most abstract way. Did you see how he talked about it?

he talked about it? >> I mean, possibly. It depends which one.

>> I mean, possibly. It depends which one. I mean, I've I've read the book, the new

I mean, I've I've read the book, the new book.

book. >> So here's what he said.

all right. So Dalio said over here he's like one this is so abstract very

like one this is so abstract very bloodless one risk for example could be

bloodless one risk for example could be location meaning the physical place

location meaning the physical place where you live and work you know Dalio's

where you live and work you know Dalio's rates a dozen nations attended resource

rates a dozen nations attended resource assess risks and form strategies on

assess risks and form strategies on where to live and invest right moving is

where to live and invest right moving is a hassle but it's worth considering

a hassle but it's worth considering under financially wearing services

under financially wearing services flexibility is key okay so this is like

flexibility is key okay so this is like an incredibly abstract way of putting it

an incredibly abstract way of putting it which I I understand why Dalio I

which I I understand why Dalio I actually think has a lot of courage to

actually think has a lot of courage to say what he's and he put it in cartoons

say what he's and he put it in cartoons so that like the full scope of it could

so that like the full scope of it could be understood in a cartoon standpoint

be understood in a cartoon standpoint whereas if you put it in a human sample

whereas if you put it in a human sample it look bad. Can I show you an example

it look bad. Can I show you an example of what a bad location looks like? Okay.

of what a bad location looks like? Okay. >> What he's actually saying is this is San

>> What he's actually saying is this is San Francisco right? Basically

Francisco right? Basically >> this is a literally half a mile from

>> this is a literally half a mile from where I used to live right and work.

where I used to live right and work. They're not it's giant mob that are that

They're not it's giant mob that are that are running stolen cars in circles and

are running stolen cars in circles and setting them on fire.

setting them on fire. >> Yeah.

>> Yeah. >> Okay. that like this scene is Max. This

>> Okay. that like this scene is Max. This is literally Mad Max. This is right.

is literally Mad Max. This is right. Black Mirror is the present. It's not

Black Mirror is the present. It's not like some theoretical future. The

like some theoretical future. The dystopian present. All the sci-fi

dystopian present. All the sci-fi Terminator Black Mirror assumes that the

Terminator Black Mirror assumes that the present was good enough and some tech

present was good enough and some tech guys made the future worse. But it's

guys made the future worse. But it's actually the reverse. The political guys

actually the reverse. The political guys have made the future dystopian rather

have made the future dystopian rather made the present dystopian. And maybe

made the present dystopian. And maybe technology can make a better future.

technology can make a better future. Right? So this is, you know, the Black

Right? So this is, you know, the Black Mirror of California and this is like at

Mirror of California and this is like at the pier which is like, you know, it's

the pier which is like, you know, it's right here. It's like in front of the

right here. It's like in front of the expensive restaurants and so on. So you

expensive restaurants and so on. So you can't get away from this. Well, I mean,

can't get away from this. Well, I mean, look, we have our own version of this in

look, we have our own version of this in London. You almost everybody's

London. You almost everybody's experience or seen a phone being stolen

experience or seen a phone being stolen out of hand by somebody on a moped. Uh

out of hand by somebody on a moped. Uh all the like I said, we're always one

all the like I said, we're always one election away from the US. We've now got

election away from the US. We've now got uh all all within all the stores. Like

uh all all within all the stores. Like so at my local Tesco store in the

so at my local Tesco store in the morning you have to buzz to go into the

morning you have to buzz to go into the store. I mean that is insane.

store. I mean that is insane. >> And you know on this topic by the way

>> And you know on this topic by the way there'll be a fair number of people who

there'll be a fair number of people who are like

are like >> oh my god you coward why don't you stay

>> oh my god you coward why don't you stay and fight right and actually the thing

and fight right and actually the thing is um their an so that's actually worth

is um their an so that's actually worth engaging and they'll give three or four

engaging and they'll give three or four arguments on this. The first is stay and

arguments on this. The first is stay and fight what? Stay and fight other

fight what? Stay and fight other Americans for America. Oh. Hm. I'm

Americans for America. Oh. Hm. I'm fighting Americans for America. Why

fighting Americans for America. Why would I want to do that again? Like, you

would I want to do that again? Like, you know, it's it's actually more like a

know, it's it's actually more like a tribal. It's not like you're being

tribal. It's not like you're being invaded by aliens and you're fighting,

invaded by aliens and you're fighting, you know, for you're it's like person

you know, for you're it's like person against person who is neighbor before

against person who is neighbor before fighting in this, you know, destructive

fighting in this, you know, destructive thing. Number one. Number two is stand

thing. Number one. Number two is stand what? A sovereign debt crisis. You can't

what? A sovereign debt crisis. You can't punch that.

punch that. >> Copy that.

>> Copy that. >> Yeah. You can't punch that in the nose.

>> Yeah. You can't punch that in the nose. You're It's like fighting a volcano. The

You're It's like fighting a volcano. The point is when a volcanic eruption is

point is when a volcanic eruption is happening, you get away from the

happening, you get away from the volcano. And the people who are stupid

volcano. And the people who are stupid enough to try to fight the volcano

enough to try to fight the volcano either die or have their homes

either die or have their homes destroyed. And if you're smart, you get

destroyed. And if you're smart, you get away from it. You let that thing happen.

away from it. You let that thing happen. And then maybe you can come back and

And then maybe you can come back and rebuild because the resources to rebuild

rebuild because the resources to rebuild are those that are not in the wake of

are those that are not in the wake of that volcanic destruction. The third is

that volcanic destruction. The third is stay in fight with who? Because the left

stay in fight with who? Because the left hates capitalists and a good chunk of

hates capitalists and a good chunk of the right unfortunately hates Indians.

the right unfortunately hates Indians. So they putting up signs saying like

So they putting up signs saying like tech guy get out like you know for

tech guy get out like you know for example like this techie scum leave SF

example like this techie scum leave SF and they actually mean this which are

and they actually mean this which are they're actually like insane people um

like die techy scum save San Francisco or whatever right that when they're

or whatever right that when they're lighting all these self-driving cars on

lighting all these self-driving cars on fire which they've done quite a few

fire which they've done quite a few times they're saying a signal which is I

times they're saying a signal which is I mean you know to to to actually make a

mean you know to to to actually make a point when Democrats lit uh crosses on

point when Democrats lit uh crosses on fire in front of black people's houses

fire in front of black people's houses in in the south. They were intimidating

in in the south. They were intimidating them. When Democrats in San Francisco,

them. When Democrats in San Francisco, because they are Democrats, are lighting

because they are Democrats, are lighting self-driving cars on fire, they're

self-driving cars on fire, they're telling Indians, Chinese immigrants, get

telling Indians, Chinese immigrants, get the hell out of our city because

the hell out of our city because actually most of the people who are

actually most of the people who are doing that are mostly and that's that's

doing that are mostly and that's that's the sub that's the subtext, by the way.

the sub that's the subtext, by the way. The tech guys are mostly recent

The tech guys are mostly recent immigrants and the ones who are the

immigrants and the ones who are the far-lefts in California, San Francisco

far-lefts in California, San Francisco are not, right? So, it's actually in its

are not, right? So, it's actually in its own way, get out you newcomers, right?

own way, get out you newcomers, right? It's similar to MAGA in a certain way.

It's similar to MAGA in a certain way. It's just coded as class rather than

It's just coded as class rather than race. Okay. But there's a res that's an

race. Okay. But there's a res that's an interesting filter on it, right?

interesting filter on it, right? >> Yeah.

>> Yeah. >> Okay. And if you go and look at the

>> Okay. And if you go and look at the leftist activists in the Bay Area,

leftist activists in the Bay Area, they're disproportionately second, third

they're disproportionately second, third generation, fourth, fifth, 12th

generation, fourth, fifth, 12th generation Americans and you look at the

generation Americans and you look at the tech guys, they're clearly not right.

tech guys, they're clearly not right. And you can see that when you look at,

And you can see that when you look at, for example, you know, you know, Elon's

for example, you know, you know, Elon's um so this is what the New York Times

um so this is what the New York Times editorial board looks like. Okay.

editorial board looks like. Okay. welldressed.

welldressed. >> It looks It looks like AI.

>> It looks It looks like AI. >> Yeah, I know. I know. That's the New

>> Yeah, I know. I know. That's the New York Times editorial board. And this is

York Times editorial board. And this is Elon's guys.

Elon's guys. >> Okay.

>> Okay. >> Interesting.

>> Interesting. >> Now, clearly the demographics are

>> Now, clearly the demographics are different.

different. >> Yeah.

>> Yeah. >> Right. This demographic is much more

>> Right. This demographic is much more Indian, Chinese, Asian, immigrant. And

Indian, Chinese, Asian, immigrant. And the other demographic is much more

the other demographic is much more white, black, American, female. Right.

white, black, American, female. Right. So, white, black, American, female

So, white, black, American, female versus male, international, tech, Asian,

versus male, international, tech, Asian, Chinese, immigrant. That's the

Chinese, immigrant. That's the demographic kinds of differences between

demographic kinds of differences between the two. Right? And you can argue one is

the two. Right? And you can argue one is better than the other, but we certainly

better than the other, but we certainly have quote more non-white people if

have quote more non-white people if that's better. And they have more

that's better. And they have more Americans and we have more of the globe.

Americans and we have more of the globe. You can make a moral argument for each

You can make a moral argument for each of them. And I think it's, you know,

of them. And I think it's, you know, personally I think, you know, there's

personally I think, you know, there's way more in the world, right? So I think

way more in the world, right? So I think the there's there's a moral fairness to

the there's there's a moral fairness to the internet that there isn't to just US

the internet that there isn't to just US citizenship, which is only like 4% of

citizenship, which is only like 4% of the world versus 100%. But people will

the world versus 100%. But people will make the argument the other way. Fine.

make the argument the other way. Fine. What's the point? The point is, you

What's the point? The point is, you know, class and race covary. Class and

know, class and race covary. Class and demographics covary. So,

demographics covary. So, Democrats yelling at tech guys to get

Democrats yelling at tech guys to get out and Republicans yelling at Indians

out and Republicans yelling at Indians to get out will merge into something

to get out will merge into something that's just this angry socialist

that's just this angry socialist nationalist thing by the 2030s that just

nationalist thing by the 2030s that just wants the tech immigrants to get out or

wants the tech immigrants to get out or die or take their money or whatever,

die or take their money or whatever, right? Because they'll be mad at the

right? Because they'll be mad at the internet. They'll be mad at China.

internet. They'll be mad at China. They'll be mad at crypto. They'll be

They'll be mad at crypto. They'll be mad. You can see that coming.

mad. You can see that coming. >> Yeah. Right. And for example, you know,

>> Yeah. Right. And for example, you know, the Democrats are running billboards.

the Democrats are running billboards. are [ __ ] We are [ __ ]

The Democrats are moving to this.

are moving to this. Um,

Um, this is the immigrant who took your job,

this is the immigrant who took your job, Elon. Right. Okay. So, they're moving to

Elon. Right. Okay. So, they're moving to the demagoguic right tone against the

the demagoguic right tone against the tech guys.

tech guys. Do you understand what I'm saying? Yeah.

Do you understand what I'm saying? Yeah. Right. Just as the right is moving more

Right. Just as the right is moving more anti- capitalist. Okay. So,

anti- capitalist. Okay. So, bring it back. That's why Dolly, you

bring it back. That's why Dolly, you see, that's why I'm 10,000 miles away,

see, that's why I'm 10,000 miles away, right? What is there like A, what is who

right? What is there like A, what is who is there to fight? But you're going to

is there to fight? But you're going to fight other Americans. B, what are you

fight other Americans. B, what are you fighting? You're fighting a sovereign

fighting? You're fighting a sovereign debt crisis. C, who's going to fight

debt crisis. C, who's going to fight with you? They all want you out of the

with you? They all want you out of the country, right? And D, what are you

country, right? And D, what are you fighting for? Like, you know, you can

fighting for? Like, you know, you can only you only have so much life force in

only you only have so much life force in your life, right? like what I want to

your life, right? like what I want to fight for is freedom and I want to fight

fight for is freedom and I want to fight for uh Mars and you know what I call

for uh Mars and you know what I call immutable money infinite for tier

immutable money infinite for tier eternal life right so Mars Bitcoin life

eternal life right so Mars Bitcoin life extension and you don't I I you don't

extension and you don't I I you don't need the Appalachians you don't need the

need the Appalachians you don't need the barrier there's no silicon in Silicon

barrier there's no silicon in Silicon Valley right

Valley right >> you're not like mining silicon out of

>> you're not like mining silicon out of the hills right so there's no natural

the hills right so there's no natural resource that's keeping you there and if

resource that's keeping you there and if there was there's a reason they called

there was there's a reason they called them commodities because they are

them commodities because they are commodities you You can literally mine

commodities you You can literally mine them from anywhere, right? The

them from anywhere, right? The non-commodi thing is the people, the

non-commodi thing is the people, the community, right? And so I'm loyal to

community, right? And so I'm loyal to the people who are my friends and who

the people who are my friends and who I've worked with over the years, right?

I've worked with over the years, right? And those people um you know, like it

And those people um you know, like it just may turn out that you know, you go

just may turn out that you know, you go your own ways. One fourth, you know,

your own ways. One fourth, you know, like meaning and this is a fourth point,

like meaning and this is a fourth point, America was actually founded by European

America was actually founded by European groups who also quote cut and run or

groups who also quote cut and run or left European wars behind. We mentioned

left European wars behind. We mentioned the round heads and the cavaliers from

the round heads and the cavaliers from the 1600s, right? But the Germans who

the 1600s, right? But the Germans who left the revolutions of 1848, the Irish

left the revolutions of 1848, the Irish Americans, did they betray Ireland by

Americans, did they betray Ireland by leaving the Irish potato firemen behind,

leaving the Irish potato firemen behind, right? Like did and then going to the

right? Like did and then going to the present day like the Jews who left the

present day like the Jews who left the Holocaust, the Persians who left the

Holocaust, the Persians who left the fundamentalist revolution in Iran, the

fundamentalist revolution in Iran, the Vietnamese who left communism, the

Vietnamese who left communism, the Koreans who left the Korean War, the

Koreans who left the Korean War, the Chinese who left the Chinese civil war,

Chinese who left the Chinese civil war, right? It's just

right? It's just >> it's just smart. It's called first mover

>> it's just smart. It's called first mover advantage, right? Every American ethnic

advantage, right? Every American ethnic group other than the African-Americans

group other than the African-Americans and Native Americans is the descendant

and Native Americans is the descendant of people who left war, civil war,

of people who left war, civil war, famine, revolution going back to before

famine, revolution going back to before America even existed with the round

America even existed with the round heads of cavaliers leaving behind the

heads of cavaliers leaving behind the English civil war. Right? So the entire

English civil war. Right? So the entire history of America is actually those

history of America is actually those people who didn't quote stay and fight,

people who didn't quote stay and fight, they were smart enough to have first

they were smart enough to have first mover advantage.

But I think we could have sat here for about eight hours and discuss things. I

about eight hours and discuss things. I didn't even get past my third question

didn't even get past my third question on my my incredible loved it. Um,

on my my incredible loved it. Um, everything you're doing here, network

everything you're doing here, network schools, incredible. Um, I'm going to

schools, incredible. Um, I'm going to wax lyrical about it and encourage

wax lyrical about it and encourage people to come visit. Very, very good

people to come visit. Very, very good work in this.com. Come and check it out.

work in this.com. Come and check it out. We'll take a video. We'll put a video in

We'll take a video. We'll put a video in like an advert, let people see it. But

like an advert, let people see it. But no, appreciate your time and incredible

no, appreciate your time and incredible work and can't wait. Come back and visit

work and can't wait. Come back and visit again. If you're British, if you're

again. If you're British, if you're Canadian, New Zealand, UK, if you're

Canadian, New Zealand, UK, if you're American and you're pro Bitcoin, pro-

American and you're pro Bitcoin, pro- freedom, um then maybe ns.com is

freedom, um then maybe ns.com is interesting for you. And so look forward

interesting for you. And so look forward to seeing you there.

to seeing you there. >> Thank you. See you soon. Thanks. Thank

>> Thank you. See you soon. Thanks. Thank you. Boom.

you. Boom. [Music]

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YouTube Transcript:Balaji Srinivasan: The COLLAPSE of the West – Why AI, Bitcoin & China Will Win | Peter McCormack

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Balaji Srinivasan: The COLLAPSE of the West – Why AI, Bitcoin & China Will Win | Peter McCormack