The White House UFC Fight, SpaceX’s Big Pop, and Fox’s Roku Deal

Running a business shouldn't feel like surviving a software group project. One app for accounting, another for inventory, another for sales, and somehow, none of them talk to each other. That's where Odo comes in, an all-in-one business management software that brings every part of your business together. From sales and accounting to inventory and marketing, all-in-one powerful platform. No messy integrations, no bouncing between tabs, and best of all, no spreadsheets. Stop managing software and start managing your business with one unified system. For free today at od.com/vox, that's od.o.com/vox. Imagine setting your makeup, then forgetting it's even theirs. Meet new grippy setting mist from Maybelline New York. Gel to mist technology locks in your look for up to 24 hours, with flexible all-day-gum fee grip. No tightness, no stickiness, no residue. Just plump, dewy, hydrated skin that still feels like your skin. I knew grippy setting mist from Maybelline New York. Maybe it's Maybelline. Admiral Swisher, take over. Hi everyone, this is Pivot from the Vox Media Podcast Network. I'm Kara Swisher. And I'm Scott Galloway. Oh, do we have a lot to talk about? Wow. Look on it. But first off, where are you? I'm in New York. Well, I know that. You're at the Equinox Hotel. Oh, thanks for telling everybody, yes. Well, I'm sorry. You're not that important. It's not a security risk. I would get it. A bunch of gay men are going to show up and ask for autographs. I'm going to tell everyone where you are all the time. Please? I'm not that important. But I try very hard not to say where you are. Yeah. Find the nearest bar. Don't get hostile. Where did you go to the lake? Did you finally go to that stupid UFC thing last night? I did not go. I did not go. I did not go. I came home early. I told you this. Yeah. To watch World Cup with my boys. Oh, good. It was a mistake. It was a mistake. I got that. Yeah. But are you enjoying the World Cup anyway? Oh, it's fucking amazing. Netherlands in Japan was an amazing game. And I know you're very excited about this. Scotland's victory over Paraguay won nothing. Scotland has so much momentum. You heard it here first. I think they're going to beat either Morocco or Brazil. Hi. If Scotland makes it to the, if Scotland makes it to the quarters of the semis, I'm taking my kids to Boston. And we're going to go see it. So I'm just so. Sounds fun. Sounds like a good thing. It sounds very wholesome. And also the US. The US had a big victory. They did. They did. So anyways, I'm all about the World Cup. Well, good. Then I did you watch the Nix or not? Did you care? I hate to say it because let me put it this way. I'm super excited about New York. I fucked up leaving. I'd love to be in New York right now because I think the city is electric. Yeah, I did. I don't care that much about basketball. So I basically watched it on TikTok and it was a nice win though. It was a nice win. It's great for the city. The city seems like everyone is really unified. It feels very kind of demonstrates the power of sport. Yeah. It feels really good. You're there. I am. I'm not going to be here. I'm going to meet you and come, but I'm going early to Paris to, um, with me. Camps. Camp, whatever. Can't. Well, that's right. We're going to be in the South of France together. That's right. We are exactly. Are you bringing in the kids? Yes, I am. The little one's not the big one. Yeah, you've got to learn how to travel. The point of travel is to escape the children. Oh, I like my kids. Let me get to the point. The next. So it turns out I was sitting next to a Nick all day during that Devil Wars product thing. I didn't recognize Carl Anthony Towns. I was sitting with Walter. I had no idea. He was so sweet when he was being interviewed. They're usually pretty easy to spot, especially in contrast to Kara Swisher. I know, but you don't, I guess, but I just don't want it. Like, I just didn't know. I knew it was a sports figure. Anyway, it was sitting next to me all day. I looked like such an idiot. But he was so. He was so good. I don't usually watch basketball, but I have to say a ball of them. I like basketball the best if I have to watch something. I thought it was very heartening. Everybody, everyone watching it from the streets and just New York, really, it makes me want to live here now. I have to say, I shouldn't say that too loudly around Amanda. You do live there now. I know, but I mean full time. Like, I was like, it's such a nice fight, but New York is such a great fight. And in a contrast, the UFC really soiled itself with that idiot player saying that terrible thing about Michelle Obama. He's not a player. He's a fighter, but yeah. He's a fighter, whatever. That was weird. No doubt about it. I was unfortunate. Let me let me let me let what happened. President Trump celebrated his 80th birthday ringside with the UFC Freedom 250 where fighters competed in front of a crowd of 4,300 with the actual White House as a backdrop as a marketing thing. There's a lot of marketing going on whether it was Bud Light or whatever. Matt, I had did something very laudable. They were giving these glasses to blind service members. I think their brand took a hit for being associated with it. Anyway, the guest list reads like a who's who's a power tech and money. Zuckerberg was there who is a big fan. And this is the only thing I genuinely like about him, I'm glad he's committed to that. Whatever. Joe Rogan was there. As you said, cabinet secretary centers, Lindsey Graham looked very happy surrounded by muscled men. Of course, Paramount CEO David Ellis was in the audience as the event streamed exclusive behind a Paramount plus paywall, nothing says the people like a paywall. We'll talk about that more in a minute because, you know, again, this one fighter grabbed into this cheap shot at Michelle Obama, which is part of a conspiracy theory among the right. And they think they seem to be obsessed with her and the Obama's. Now UFC CEO Dana White later told Time Magazine, "Everyone knows my position on free speech, but I hate that kind of nonsense. I don't think you need to defend free speech Dana." It's just, so can't you just say this is like horrible, like they always have to like find some dumb excuse. That's a, that's a, I think that was a good comment from him. I guess it's the least he could do. But we disagree on this because I actually think, well, we're going to, I think the event was a win for the White House and distinctive that dumb moment, which will get a lot of play. But I think that essentially just the way Tucker Carlson is trying to shore up the Nick Fuentes manosphere part of the party, there's still a large segment of America that wants to embrace some form of masculinity and feels like it's been shoved aside. And I feel the same way about masculinity that David Trump feels about the border and that is if progressives don't enforce the border fascist will, and if Democrats can't come up with some sort of symbolism or role models that demonstrate strength and service as masculinity, and the Republicans that have filled that hole with violence and misogyny, which is exactly what they're doing. And unfortunately, it not only highlights this performative weird dominant misogynistic form of masculinity that is just, in my opinion, absolutely the terrible role model for young men. It highlights to me that Democrats haven't been able to identify anything around an aspirational viewpoint around masculinity. I'm going to push back. Trump is down 10% among young men over the past few months. They're way down. It's not because of this event. No, I'm just saying it's just, I think this version of masculinity, you know what a better version were the next, the way they were, and I'm not, I'm taking away the owner who I don't particularly like, but I thought they display, you know, a lot of, like a support of women. If you notice, there was a lot of mothers, there was a lot of sisters, there was a lot of great. They always talk about, you know, the guy, the main guy, Brunson was, you know, he gave up a big pile of money to have other people on the team, include a cat, Charlie, a big cat. Well, he wants to ring. He wants to ring. He wants to ring, of course, but it's like, it's just shows like the difference of the watch parties was really rather insignificant. And so if you want a version of masculinity, that's a version of masculinity that is very sporty, very masculine, it did a lot to heal the male loneliness epidemic. Have you seen people out in the street like that, men out in the street like that? Absolutely. Yeah. I don't think there's any, there's any way to not highlight the next, the players, New York, what have you? Again, I think that event in the pageantry and the flyover, and there's a large segment of America that likes that stuff. I like a flyover, by the way, I'm not saying I don't like a flyer. I think the, I think there are ways into this that are very, very clear that you can support things. Um, here, this is Monica has in the question of both. I think she did a great job. And she also is a big supporter of MMA, by the way, she likes it. The problem isn't the fighting on the lawn. People who love the UFC have had to sit through decades of presidents inviting poets and cellists and opera singers to the White House, and it turn about is fair play. The problem with Sunday's broadcast wasn't the fighting. The problem was the totally incoherent emulsion of patriotism and bloodlust, history and by this crap, an event happening for the people, but tucked behind a paramount paywall. I think that exactly, that's what it felt like. It felt like, and by the way, all the, all the cheap seats, they were, they were stuck in that one area of, they weren't at the White House, which was, this is what she also wrote. What do we make of this other than this is America? Bring me your tired, your poor, your huddled masses, advertising Bud Light and trucks in Loud We Trust. Bring me your ring girls dressed skimply and sequined stars and stripes and your men with cauliflower ears and a bunch of sailors dancing to YMCA. I just, it, there was such an, I don't know, I do contrast these things. I also contrast the World Cup, too, which looks wonderful and diverse and interesting, and though the crowds are, I don't know, it's just, there is a way to appeal. I think Democrats should embrace it, but this was grotesque and it got the center of attention will be this idiot, this idiot who's had his head hit too many times, making an incredibly misogynistic, it's racist, it's just, it's just like gross and no, but no man doing anything. That's what it is. That's what it is. Yeah. Look, her, her comments, her assessment is really. I don't know, the report is commentary is really, really impressive. And I do agree the World Cup and the NICs are better. Look at the end of the day, just politically, Kara, it was a total distraction and occupied the new cycle from the fact that we have a shitty memo of understanding on something actually a lot more important. Yes, we will get to it. So just from a distraction standpoint, it was, I think it was a whim. If they hadn't had that event, the media would have been much more focused on something that has much larger implications from the world. And that is Donald Trump walked into a, you know, a car dealership demanding a Ferrari and is leaving with a camera because he's figured out he has bad credit. That he's overpaying for. Yeah. So at a minimum, they probably wasn't strategic planning the timing, but I think that I think anything did distracts from this memo for understanding. Even if it's a terrible statement, I got it, I got it. Well, we've got a lot to say. We're going to talk about that. The Trump administration, by the way, is fighting with anthropic again and SpaceX, of course, went public. That seems like a hundred years ago. But, you know, speaking of paramount, it got just as Department approval, the merger is just clear to key hurdle. The DOG says its review found the roughly $110 billion deal is unlikely in a harm competition for consumers. Or consumers. We're having a major federal obstacle, the deal isn't done yet, though. The state attorney general, including California, is just still reviewing the transaction and could challenge it. David Ellison said the merger remains untracked close by September. He's got to because after that, so-called ticking fee would kick in, making the acquisition more expensive. European regulators are still weighing approval. What's interesting to me is that the Justice Department apparently shut down its investigation into paramounts bid to buy Warner Brothers before career staffers even had a chance to weigh in. And those lawyers weren't just skeptical of the deal. They were actually leaning towards recommending the DOG sue to block it, arguing that combining two of Hollywood's biggest studios would be bad for competition. But with the Ellison's and Trump, the fix apparently was in. I think, you know, we'll get to the Roku deal, which actually Fox just bought Roku, but these mergers are just coming fast and furious. And I think no one was surprised by this. It's a question of if the States or European Union can slow this thing down. But are you concerned with net scape with higher prices? How do you feel at this moment? Netflix with higher prices? Yeah. The reality is if the economists, I talk to, say that it's hard to, it's hard to say these guys have a monopoly. When you look at the fact that the combined viewership still won't rival, when you look at the revenue, it's nowhere near what the revenue is for, you know, the media companies, the tech media companies we talk about. So you can accuse them of overpaying, I had a children down my spine over the weekend when I read that Mark Thompson has been considered as kind of the manager they need to come in for CBS news. The only one. Yeah. Actually, others who they mentioned said, go ahead, go ahead. It just, I have a son of a son that showed on my spot. I'm like, what? The Ellison's own CNN? It's like it hadn't fully dawned on you, but from a straight, from a straight regulatory standpoint. Yeah. And there was really no, in my opinion, valid reason to block it. And by the way, I've switched on that. I was worried about the consolidation of media, but when you include competitors around watch time, revenues, there wasn't, there really wasn't an economic argument. Now, in terms of mergers, you're going to see a flurry of them because anyone who's thinking maybe we'd like to buy companies, they're like, let's do it while they're doing as good, because if you get a democratic administration in there, you're going to have much more scrutiny around these mergers. And I mean, you already see it, you already see attorney general's AGs in blue states getting much more excised about this merger than the federal guys, but it's, it's going through and it'll be really interesting to see what kind of the, the first moves are or ramifications of this consolidated company. And they've got that debt to deal with as, you know, I, I'm just recently interviewed a whole bunch of big media of companies, just that that media people and they're all like, this debt is fucking ridiculous. They, most of them are very much focused on the debt and the math of the situation. I think they'll have to make enormous cuts and, you know, a lot of the rest, speaking of distraction, a lot of the rest of the distraction with the CNN thing, well, you know, my feelings on that. I'm leaving. I'm as soon as I can. So you're out. You're out of CNN. Yes. Yes. No, 24 months. No, that was before. You're not listening to me. Do you ever do invest in our relationship? I've been saying it publicly for a long time. Well, that's why, that's why lesbians have the highest rates of divorce because both of them are listening. Yes. It's important that in relationship that the man not listen a lot, that's key to the survival. Well, I'm not used to that. I'm. That is key to the survival of our relationship. There's a lot of shit that just runs right right over my head. Let me try to outline it. I don't want to work for the else and I don't want to work for their hand, pick minions because I think they're incompetent. That is what I've said over and over again. And I like, I love working with the people that's seen and I very much like Mark Thompson. And I hope they put him in charge because I think he would do a great job. I just don't see any way that these people make good decisions and I don't trust them. That's it. I just don't, I don't want to work for tech people. You know, they're more than, they're, they can, you know, I don't know, there's, there's just, I don't, I'm just not saying, I'm saying, there's lots of places to go. I don't, like you, I think TV's great, but it's not that great, like to put up with this shit. Like I don't, that's one thing. I like, you know, me, I like making that series. I just, you know, I don't, except if I owned it, if they want to buy it, they can buy shit off of me if they feel like it, but other, but I don't want it being, I don't want them to own something. You don't think, see, I would argue for Cara Swisher, if they gave you an agreement to work at CNN and said, you know, like we're just, these, this, this is the editor. This is who's in charge of your stories. Why wouldn't you, you, you don't think you'd be able to fashion an agreement? I don't think they would do that. Like if they would pay me every time person, I don't like talks to me, I guess, I don't, but no, at this moment, no, not the way they're behaving right now. And this, by the way, this whole, like, pull a Leslie Stahl demand to stay because you'll protect CNN from these evil. I am not, I don't think I have that power to do it. Anyway, I, there's lots of other options. I'm on under contract with them until the end of the year, and I'm hoping they'll let me out early because I don't want to affiliate with them. That's all. I left, I left Murdoch too. It's not, this is not a new fresh thing for Cara Swisher to flounce out and do better. No one cares. But it says something. I just want everyone to know I'm, I'm, I'm absolutely a horror and expensive horror. So, Alison's, you have my number. Oh, I heard about that. Let's not get into that issue. You've had, you have my number. Yeah, they called you. I know that. I'm sending you on that, by the way. I appreciate that. They had your number. You don't, we don't need TV. It says point on us. We are TV. We are TV. We are TV. With much better economics. It's just like a headache and then I have to see them. Anyway, let's go on a quick break. When we come back, Fox is buying Roku. Support for the show comes from Upwork. In a world where AI is changing every role in every industry, knowing who actually has deep expertise matters more than ever. That's why Upwork connects you with highly skilled freelance professionals with proven track records so you can hire it with confidence. Upwork is a one-stop platform to find hire and pay expert freelancers across more than 125 categories. Find talent and start filling those skills gaps, launch projects faster and scale support up or down without committing to full-time headcount. You can browse profiles, review people's past work and get help, scoping the role, hire confidently while sticking to your timeline. Upwork also has business plus, which lets you access the top 1% of talent on Upwork. With AI-powered shortlisting, you'll get matched to the right freelancer in under 6 hours. Upwork can also take care of operational stuff like contracts and payment so you don't have to worry about it. Visit Upwork.com right now and post your job for free. That's Upwork.com to connect with top talent ready to help your business grow. That's u-p-w-o-r-k-e.com-upwork.com. Support for the show comes from AG1. With summer coming to a close, you might notice some changes, such as changes to your bank account and your schedule. But what about changes to your diet? If you feel as if you let your diet go by the wayside, you can get things back on track with AG1. AG1 is a daily health drink with a multivitamin, pre and probiotics, superfoods and antioxidants. It helps you maintain energy while supporting gut health and immune health. Even though summer is your license to chill, AG1 helps you keep one thing consistent. High quality nutritional support every single day, no matter where you start in the morning. I actually use AG1 a lot. I have smoothies every morning with kefir or yogurt, or then I mix it in with fruit and different things like that and make a nice smoothie. I really enjoy using it. I think it tastes good. I also sometimes add in kale and all kinds of things. It actually reminds me if I don't have enough in there to have those things in there. So if you're looking to make some changes with the fall approaching, AG1 can help you make and stick to them. Visit drinkag1.com/pivot and get a free AG1 flavor sampler and a free bottle of vitamin D3 and T2, which I also use this morning. And you're welcome, kid, with your first AG1 subscription order. That's drinkag1.com/pivot. Having a business shouldn't feel like surviving a software group project, one after accounting another for inventory, another for sales, and somehow none of them talk to each other. From sales and accounting to inventory and marketing, all-in-one powerful platform, no messy integrations, no bouncing between tabs, and best of all, no spreadsheets. Try for free today at odu.com/vox. That's odl.o.com/vox Scott, we're back speaking of this. Fox Corporation is buying Roku in a $22 billion deal that can reshape Poe Americans watch TV. It's a big play for advertising-based television. Just, you know, Fox gets access to over 100 million households worldwide. Lots of people use this, combining its live news, sports, and to-be streaming service with Roku's massive platform. The combined company would become the third largest player in U.S. television by share of viewing, putting real pressure on the likes of YouTube and Netflix. I've always liked Roku, Roku will operate under the Fox umbrella with Roku founder Anthony Wood, who is a really interesting, first-enjoining Fox's board in a subordinate role. That's interesting. Fox's shareholders own about 73% of the combined companies with Roku shareholders holding their remaining 27, and the deal still needs to sign off from both shareholder groups and regulators. It's interesting because they deliver all the networks into living rooms. You know, they're like, it's almost like a cable company in a weird way. I think I'm using my Roku in Brooklyn because I didn't want to get the cable bundle or something like that. I haven't hooked it up yet, but I've always liked Roku. I don't use it that much, but I thought Anthony did a nice job. And I'm just curious, you know, he can't get any bigger presumably is why he's selling. I think it's a great move. Yeah. Something I didn't see coming in the moment I looked at it and I'm like, this makes all sorts of industrial logic. Who else could have bought Roku just before you move on from that? Who else? There's the obvious, there's the obvious Warner Brothers Paramount, Disney. I mean, this isn't a, they have assets that are incredibly important. They have, I mean, they have a ton of first-party data. They have first-party data across a hundred million households, which is a really strategic asset. It gives Fox a direct viewer relationship. The cable and broadcasts never offered advertisers, right? So because you have the cable company in the way, Fox projects 400 million and run rate cost synergies. They needed this. They needed this. It's a really savvy, bold move. It is. I thought, oh my God. It just makes a lot of sense. Yeah. What's interesting is they actually sold their shares in Roku at 58 bucks a share to fund their acquisition of Tubi and now they're buying back in at 160. They sold, owned roughly 73% of the combined company. Yeah. No, no, no. But I just said that they had had shares before. Yeah. So my understanding is that Fox actually, they had Roku shares in March of 2020 and they sold them a 58 bucks a share to fund their half a billion dollar to be acquisition. Yeah, which has been very helpful to them. So look, this is a company that's making a big bold bet, recognizing their core businesses and structural decline. I think it's really, I think the folks at Fox are really smart. Yeah. This is smart move. I thought that. That's exactly how. But it is a big bet on advertising based versions of this, right? Because Roku is advertising based and it's not subscription based. So. But here's the thing. If you look at the trends, subscription has been eating into, subscription streaming has been eating into linear advertising supported TV for the last 20 years. In 2024, it's stopped gaining share. It's like 50/50 right now. Too much here. I mean, for example, I don't know if our listeners know this. They can watch pivot or profitgy markets on Roku. It's available. We have a channel on Roku and it gets huge, huge viewership. Is it a significant revenue generator? They're total revenues around 4.7 billion. For you. For you. I don't know. We launched two months ago, but my attitude is, if you look at enterprise value, and I'm trying to be transparent about what we're trying to build the profitgy markets and what we're trying to build the pivot, if you're the way you increase enterprise value and increase the multiple on your EBITDA is one by right now adding subscription revenue, which we're doing on Substack and two, having alternative distribution and different differentiating your media mix or your revenue mix. So what starts small, I think we'll do 100 or 300 grand in revenue from Roku or advertising on Roku by serving all of our odds on Roku. But what you want is, if you ultimately think about enterprise value, it's a multiple of your profits and your growth, but what increases the multiple is how enduring that revenue is, i.e. as much subscription revenue as possible, and also a diversified set of revenue streams. Right. But my attitude is, while it's been an effort to reform out our content and put it on Roku, it's absolutely worth it because what you want to say to a potential investor or acquire is, look at all these different points of distribution and types of revenue mix that create a more enduring company. But just to get back to Roku, 4.7 billion in total net revenue of 15% year over year, platform revenue of 4.1 billion, that's up 18% gross profit of 2 billion up 15%. Last year was their first gap profitable year. The company reported negative income of 80 million and Q4 loans, so it's hit that tipping point. And again, over 100 million households have Roku by the end of 2025. And device hardware still runs at negative gross margin, but they sell hardware at a loss to capture platform users. I would argue that Roku is arguably the most important media company that people have never heard of. Yeah, let me just point to another person, actually sued young woman, chief executive to be, this is a free ad supported streaming service they have. And she was the previous CEO of them, but she's expanded the user base, I think it's 100 million users. And it's the most watch free TV streaming services. It's very quirky, and you can find all manner of stuff on there. But I think the two of them are very savvy. They're both incredibly smart, like that's the thing. And I think one of the things, I'm not, you know, Lockham Murdoch, I just think was born into his job, but these are two, one of the things, I just interviewed Peter Turnin for my podcast today, another smart former Fox executives. One thing that Rupert's been good at is executives, like they're very sharp and, and you should listen to Turnin, one, because I think it was a great interview, but, you know, just really smart executives. And this is the case. Anyway, very smart, you can also, by the way, watch us on YouTube, by the way, we're very promiscuous. The entire Scott and Kara are very promiscuous. Anyway, let's move on to the other ones. We like this deal, SpaceX, of course, it seems like a hundred years ago, officially public and as one Scott Galway predicted, it did indeed close up on its first day of training and you had said it was going to be about 20 percent and not more, which is interesting. It was a 19 point, something percent shares are at a high of 177 at the time, it's taping after the company's public debut on Friday, making the current market cap 2.32 trillion. You thought it might be a scooch under two. It's first day on the market, over 500 million shares traded hands. A lot of movement here, Elon himself, of course, crossed the milestone. Thanks to the pop becoming the world's first trillionaire. There were some notable buyers, Gina Reinhardt, Australia's richest person, bought over a billion dollars stake in the company and Kathy Woods' arc investment, bought one 500 million dollars worth of stock. Go through if there's anything surprising there, because venture and also venture funding for US space technology firms, excluding SpaceX, jumped 7.5 billion dollars in 2025 from 2.5 billion in the previous years, probably, we'll see if that goes anywhere, because it's also a money, it can be a money furnace as the word you use. Any thoughts on where it is right now? So I thought the bankers and Musk, and I think the most significant thing here is that we've never seen such engineered manufactured scarcity. There was tens of billions of dollars of demand for this IPO that is never existed for an IPO before. Then you combine it with the fact that unlike other IPOs that when public on the NASDAQ, it didn't have to float more than 10%, it only floated 5%, so you've just created manufactured scarcity. Now, to be fair, it's up again today. This has created a level of excitement in the market. I do think you have to highlight the positives here, and that is, I never want to be someone that demonizes success. There are 14 new billionaires in Texas that you've never heard of. Most people will give money away, they will start new businesses. Something that's uniquely American is that we continue to produce companies like this and entrepreneurs like Elon Musk. It's going to create a lot of economic growth. You're going to see a surge in philanthropy from Berkeley to the University of Texas. It inspires a lot of people. There's a lot of positives here. We're seeing venture funding increasing in space-related projects. lot to like here. You know, I don't like the manufactured scarcity and the what I'll call the overlying narrative of sort of like the hero's journey here. And the numbers at certain businesses are not great. Yeah, look, this from a valuation standpoint and this is this is what muskazzo has been able to do is to create this narrative over numbers that's like no one else in history. So, but right now the stock is trading 30% above the IPO price. And then he has also again, and I go back to governance, there's all these different lockups like if you trade on a certain platform and you botched shares who direct share purchase on a certain platform, they technically don't have a lockup bot, but they if they sell their shares, they can't trade on the platform before, which is like a soft lockup. There's certain criteria around when you can sell if the stock is up a certain amount etc. To be fair, Elon's locked himself up. I doubt he's planning to sell who does borrow against his stock, but what they've effectively done what you're not supposed to do is they've created different classes of shares, which you're not supposed to do. So again, I find that this is this is really inspiring and important and going to be great for economic growth on certain levels. I also believe that this entire sector is going to have not a collapse, but a pretty serious drawdown when people after two or three earnings calls are forced to justify anything resembling a future that involves the kind of earnings built into this thing. Right, and then the rush to space technology for the same thing, they're going to over invest, which is normal, like I would assume, presumably. And quite frankly, that's one of the great things about America because we over invested in the internet and the technology survived, and a lot of those companies came back and that investment was good, but you didn't want to be one of the investors over investing initially. But I said somebody called me and I said, this on pivot, someone called me and said, I have allocation, should I take it and I said, take it and trade out on the first trade. Although if you buy it and trade out, you don't do as most people don't do as well, except in certain cases, right? There were all these really interesting statistics of buying and selling that were not good in the long run over time. It's just you've got to hit the exact right one or you lose money most of the time. This was different because so first off, a trading out, trading out, you get short-term capital gains at a higher rate. So there's a lot of evidence that shows that just generally with investing, you're better off just buying and trying to never sell. Trading is a difficult game. I thought and I said this, I said they're going to manufacture a 20% pop. The bankers and everyone are figuring out a way to create a supply-demand imbalance that will exactly peg this at a 20% pop. What's impressive in punctures that theory is that it's up another 11% today. And the thing that also just the thing that deserves a nod is the best VC in the world is not Andreessen Horowitz or whoever initially funded SpaceX. Teal founders. Well, it's in my opinion, it's Uncle Sam and that SpaceX investors and the banks taking SpaceX public should remember that we would not be here today without grants from the federal government. In 2008, SpaceX was on the verge of bankruptcy and would likely have run out of money if not for a grant from NASA. And the golden law, and then the golden law of stupidity here, Trump is trying to cut NASA's funding by more than 20% this year. Same with mRNA technology, same with the government is one of the greatest investors of all time if you could think about it that way. Best VC in history, whether it's medical research for our universities or electric charging stations, what you know, and they would argue back, well, they're going to get their bite, they're going to get enormous return through tax revenues. The big debate this will stir is in America we've been talking about for decades now. What's dominated the conversation is how you create wealth. The conversation that is superseding that is what you should do with wealth. Once you have it. And so right now Elon Musk could buy all of Manhattan every building, every condo, every park with his, that's how much money he has right now. And whether or not this level of concentration of power, which comes in a capitalist society for money, presents risk. And I'm of the mind that I think it's important that eventually, and I'm in favor of eventually having trillionaires, but we should have guardrails over the power and progressive taxation, which we don't have right now. Can I just say one thing I want to push back on and that you've created all these rich people are going to give to charity. If you look at the statistics, I don't think they're going to be charitable. I don't think they're going to do good things. I just don't, I don't think this class, I don't think Elon Musk has had a very good record. So I just, I'm not expecting these people to be, I think they're going to be on an ongoing quest for more money and more power and more consolidation. So I'm not impressed with their charitable thoughts. And I'm glad they're creating jobs, but they would immediately cut you if they had to. That's why I just don't think they have that. You're talking about, okay, but I think we need to parse that. And that is, if you look at billionaires and their wives, the wives have hands down been more philanthropic. And it doesn't, and they quote unquote billionaire masters of the universe have not acquitted themselves well on a lot of levels. But there's just no doubt this type of wealth creation event is going to result in a surge in philanthropy. It just does. Hopefully because you're going to have a lot of people who wake up and have $20 million and think, I'm going to give two million bucks to the local food bank where I'm going to give 50,000. But I talk to, you know, I'm involved with the University of California. They're all revising their giving goals up for next year because of the IPOs coming down. And they have so many alumni. I'm not talking about Elon Musk. I think it would be, you could, you could make a credible argument that he's not the most philanthropic person. I get that. And you can definitely make an argument that McKenzie Scott and Melinda French gates are more philanthropic than their husbands. But when you see these types of liquidity events, local philanthropies surge in terms of, that would be great in terms of money. There's, like, there's, for all of SpaceX's problems and income inequality, there is an a nation on earth that wouldn't kill to have those problems. I would agree. I just think it's going to go into political activism in a way that could be deleterious to most of us. Oh, hi. That's where it's going. It's not going to help. Let's be clear. Elon Musk, in my view, can probably decide who the next president is. Yes, that's correct. He spent $250 million and had influence on the election. Maybe he didn't decide it, but he had influence on it. What happens if he decides to put two and a half percent of his net worth, or 25 billion, or a hundred times what he spent last time. And also to be fair, are we comfortable? And he deserves credit. One of the things that doesn't get, he doesn't get enough credit for is he has turned off Starlink for Russia. And it is, it is put Russia at a severe disadvantage to Ukraine. And I think that is a wonderful thing. And he deserves credit for it. Having said that, except if tomorrow he changes his mind. Well, that's exactly right. Having said that, is should that power reside in a private citizen that has no government or electoral oversight? But the, like, it's a ton of economic growth. The banks made a shit ton of money. You have a lot of people. 4,000 people became millionaires on Friday. I get, I get, I hope they're better, better. I just think, I'm not even, musk is one thing, but I'm worried about others that aren't quite so broad. I just, like, I always, whenever I see a box, I think the U-Leans, the U-Leans, U-L-I-N-E, I don't know how to pronounce it, but they're, like, huge givers through crazy right wing causes. And so I just am like, oh, God, the box is the list of that. Anyway, I, I just hope that they, that they share a problem. Yeah, I hope that their chair, that's, that's what I hope. We come back. We'll talk about the Trump administration coming for anthropic yet again. Support for the show comes from hymns. If weight loss has felt like a losing battle now could be your chance to change it. Skip the guesswork and try weight loss by hymns, an affordable range of FDA-approved GLP1 medications, including the wogovi pill and the wogovi pen. With wogovi at hymns, they say you can lose up to 20% of your body weight when combined with diet and exercise. It helps you regulate your appetite, eat less, and keep weight off, plus wogovi is the first ever GLP1 pill for weight loss, so there are no needles involved. Through hymns, everything happens online. You'll connect with a licensed provider who will determine if treatment is right for you. If prescribed, your medication is delivered right to your door. No insurance necessary. Ready to reach your goals? Visit hymns.com/pivot to get a personalized affordable plan that gets you. Spelt hymns.com/pivot hymns.com/pivot. Weight loss by hymns is not available in all 50 states. Wogovi is a registered trademark of NOVO Nordisk AS. To get started and learn more, including important safety information, wogovi clinical study information and restrictions, visit hymns.com so like any good millennial, I have a love/hate relationship with Gen Z. It's the phenomenon, rattling millennials. - They just look at you. - They want something bigger themselves, lifestyle's a priority. Motivation is being inspired. - But regardless of how you feel about Gen Z, it's undeniable that they're changing national politics. - Generation Z is increasingly showing less loyalty to traditional political parties. Many now more likely to identify as independent. - So what is going on with the kids? - I think the biggest misconception about Gen Z's politics right now is that all of a sudden they're all socialist. That is just not the case. - Yeah, yeah, yeah. - They are embracing candidates who are offering new bold ideas in the absence of those ideas from establishment Democrats. - This week on America, actually, Gen Z researcher, Rachel Jamfaza joins us to separate Gen Z fact versus fiction. - It's not rocket science. And this is, you know, I keep saying like, young voters aren't that complicated after all. It's pretty simple. - Catch us every Saturday on YouTube or wherever you get your podcasts. - Support for the show comes from Quince. Is there something your closet you can't wait to bring back into rotation every year? Maybe it's the jacket you throw on for just about anything? The boots that fit perfectly? Or the scarf that instantly makes an outfit feel put together? Those are the reliable pieces you come back to season after season. They're exactly what Quince does best. Quince makes premium essentials for any season using high quality materials like Mongolian cashmere, organic cotton and washable silk. The designs are timeless, expertly craft and made to be worn again and again. And all of their items are priced 50 to 80% less than similar brands. Plus they work directly with top factories cutting out the middlemen. That way you're only paying for exceptional quality and not brand markup. I just got Quince sheets of all things and I was surprised. I love them. They were incredibly well priced. They're so soft, they're well done. I didn't have to like wash them. They didn't feel scratchy in any way and they were quite beautiful. I also have this cardigan that I'm ready to wear for the fall when it stops being 90 degrees here in Washington, DC. And I'm looking forward to buying other things from Quince for the fall. Find the fall pieces you'll reach for most at Quince. Download the Quince app for app exclusive offers or go to quince.com/pivot. Get free shipping with your order and 365 day returns now available in Canada and the UK too. That's q-u-in-c-e.com/pivot. (upbeat music) Scott, we're back with more news. Anthropic had 90 minutes to take down as most powerful models, mythos and fable, which is mythos, but the public version of it. On Friday, at the request of the government who cited a national security threat, the Trump administration issued an order barring all foreign nationals from having access, including Anthropic's own non-US employees, including a lot of them at the top, essentially forcing the company to take it offline. The decision was probably made after a conversation with Amazon's Andy Jassy who told officials researchers in his company got fable to provide information to be used in cyber attacks. Anthropic went, sent staff to Washington, meet with the White House. They should have fixed the dispute. I'm sorry. I just think they're waiting for an excuse here to get Anthropic. I think maybe Jassy might have said this, but the minute they could, they jumped on Anthropic. And of course, Anthropics making the argument that every other model can do this too. And they're just cherry picking. By the way, the company is also being sued for its $200 a month AI plans with consumers alleging it oversold the usage allowances it offered. So that's that. And then by the way, a coalition of states attorney generals have opened an investigation into open AI. The company was served with the subpoenas seeking documents related to its activities and impact on users, including activity related to minors. And seniors handling of health data and company policies early this month, Florida became the first day to file a lawsuit against open AI and Sam Altman alleging the two knowingly released an unsafe product. That's an interesting. That's a separate thing. But this Anthropic attack by the White House is really interesting. Of course, they were just waiting for something to come out of them as usual, David Sachs. Just lies and waits. Yeah, I had mixed emotions here, because I think it's a good thing. I'd like to think that the government's involvement in acting crisply around the threats of AI is overdue. So I applaud the government moving in crisply and saying, we need to shut this down until we understand it better. I applaud that the problem is, I don't trust these people. I don't know what their motivations are. I don't know if they're generally concerned about the well-being of society, or if this is just politically motivated, trying to shut down one company because you have political donors at the other. And supposedly, I just had Ian Bremmer on the pod talking about Iran. He said at the G7 meeting, the shutdown of Anthropic was a bigger topic than the memo of understanding in Iran because if you're a foreign company and you've deeply integrated Anthropic into your workflow, and all of a sudden it's turned off, it's like, OK, does this mean the government has a kill switch for AI that, whoever it is is angry at them, just turns it off? So this is, again, this all comes down to the same fucking thing. You don't trust these people. And why isn't there a congressional like that everybody has to live by it? What does Andy trust you make? Have a conversation. I'd like to hear from Andy fucking Jassy right now. What did he say? Why did he-- they're an investor in Anthropic, by the way. So I'm not sure I even trust that story. I don't even know if I trust the Jassy part of the story. I'd like him to speak out publicly about it. But yeah, I agree. I don't trust these fuckers. And I think they're doing it to kneecap Dario because he's been in nuisance to me. Yeah, he's not there chosen. He's the one that said no on self-healing or on weapons or privacy violations. So he's on their shit list. And I love the idea. But Dario and Anthropic would say perhaps correctly that these same jail breaks or things that the reason why they shut down are available on other models. Again, they're not a perfect company. I get that they're being sued for overalenses. I just think there's going to be they are in the front and they are not going along with this administration. So you're going to see all manner of nonsense attacking them. And some of it-- I don't think they're perfect. I don't think-- I think he can be a little bit righteous. But at least it's righteous for the right things on some level. And I just think this is-- as I said, this is not about national security. This is about a beef and a rumble between different Silicon Valley interests. That's-- it seems to be. We need-- we need a panel or a regulatory body that's bipartisan with experts, economists, philosophers who say, OK, maybe it shouldn't take 10 years to release an AI model for the public similar to the way it does for drugs. But we need 30 days in an institution or an agency represented by the briefs, Congress that says, OK, before you release anything, it's got to go through this 30, 60, 90 day screening where we bang the shit out of it. And everyone is subject to the same regulatory approval. And that kind of regulatory certainty is good for the economy. It's good for companies. They want to know what rules they're playing by. They don't want to have to think, Jesus Christ, so I got to go to a fucking UFC fight or fear that they're going to turn off my next version of this product. But supposedly, it's created chaos abroad because a lot of companies-- Sure is, yeah. --in even defense departments. And NATO members decide to use anthropic into their scenario planning or to figure out when to turn off and on power that runs into hospitals. And all of a sudden, they've got to go, OK, you mean one guy, based on criteria we can't figure out, has again, a kill switch on an important technology. And there is-- To me, if you read David's acts as stupid excuses, he's such a pompous ass. And I just trust none of this. They do not care about all of us. They care about this Silicon Valley beep. And you can feel like the hand of others here. It's just-- you don't trust them. Like you said, I think you put your nose on it. Now, what's more serious are these lawsuits, in terms of how good their product is and whether it's accurate or not. That's, to me, where some of the real issues are going to come with all these companies, all the social media companies, everybody else. It's impact, whether it's data centers, or minors, or bad health stuff, or bad data. But unsafe products is actually where I think the action is. This is also-- I think this is headed one way. And that is, it'll probably result in the administration putting all sorts of restrictions on Chinese open-weight models, trying to come into the US and disrupt what is becoming an increasingly difficult case to justify the ROI on these token expenditures. And so this is, again, going to take on its own sort of tariff feel in the geopolit-- it helps the company like Mistrel out of France, who is not subject to the same things, although supposedly that's inferior technology. I'll be very-- I wouldn't be surprised at all if all of a sudden Trump decides these Chinese that American firms can use these open-weight models coming out of China. But this is the next big political football, I think, is who and how gets to use American AI firms? And what AI models are allowed into the US? I do think these safety things are building with parents and everyone else. I just do. I think that, as you said, the brand AI has gotten so many hits that's almost like this idiot who got hit in the head and said racist and misogynistic things at the UFC fight. It just is getting. It is getting a bad rep. And there's going to be legal implications, I think, because I think people are-- set in angry and it's not as Mr. Wonderful says about his data centers. The Chinese fault. It's your own. All right. Scott, one more quick break. We'll be back for wins and fails. When you hear an old Motown song, do you ever think about just how good it makes you feel? Well, that was not an accident. I'm Will Anderson and this week on my Music History podcast, the Monday Music Club, we're diving into the early years of Motown Records and how they crafted hits with factory level precision. With the help of Otis Williams from the legendary temptations, we walked through the entire creative process and history of the label, its founder Barry Gordy and our favorite acts like the Supreme. So if you've ever sung a long to Motown songs and want to know more about the incredible people behind those timeless hits, check out this week's episode just search for Monday Music Club right now wherever you get your podcasts. Here's a little preview of the episode. HDH had written the song and it was ready to be recorded, but as Otis tells us it was originally intended for someone else. Sean Ramasferam from today explained from box like many of you I lived through 9/11. My memories of that day are of horror and shock and devastation, which is why I think 25 years later it's so surprising that my feeds are filled with 9/11 memes that are ironic, irreverent and surely insensitive. Think pasta stacked up to look like the twin towers with M&M in the background and a caption that reads "Never forgety, mom's spaghetti." Some of you surely know what I'm talking about and some of you surely don't, so on the show we're going to try and get everyone on the same page. Please consider this a trigger warning. Bear with us as we try to understand how jokes about the worst attacks in our country's history have helped a lot of young people deal with it and avoid it. How 9/11 became a meme? Maybe the most popular meme online. You might have noticed that when you go to the supermarket these days, you can get all kinds of milk and many of them have no relationship to a cow. Soy, almond and oat are the usual suspects, but you can get rice and hemp, and pea, and cashew, and macadamia, and pistachio, and coconut. The list just goes on and on. Take oat milk. About a decade ago, I'd never even heard of it, but then suddenly oat milk was everywhere, and some people were even willing to pony up around a hundred bucks for a carton. Why, what happened? The whole plant milk vibe seems to be that they're healthy and good for the planet, but is that true? Are they better for us and for the environment than cow's milk? All that plus the weird story of how we even came to drink cow's milk in the first place in this brand new episode of Gastropod. Find Gastropod and subscribe wherever you get your podcasts. Okay, Scott, let's hear some wins and fails. Would you like me to go first? You've got first carer. I'm going to do a win and a fail together, because one of the things around this UFC thing is meta-used opportunity to do PR for itself, which, fine, I don't really care, around this giving blind veterans these glasses, right? These glasses that help them navigate. I think this is a great thing. I don't care if it's a PR thing. I don't care any manner of it. I do think, I know, and the man that was actually telling me, this is really helpful for people who have disabilities, like blindness, these glasses. I think all of them, not just met us, but everybody's, not these Ray-Bam ones, but I suspect Apple, will have a lot of utility for people who are blind. I think it's very exciting, and I think it's a good thing. Look, I don't mind if you use PR for doing that. I get it, and it's fine, and it helps people, and I give it a lot. This was an effort pushed by Dina Powell, who they just tired, and good effort. They should do a lot of these things. Nonpartisan would be great. They don't have to just mob up with Trump all the time. They should go with everybody to do these things to help people. Again, I don't care if they get a PR win off of it. That's fine by me. What I think is that them doing it during this UFC fight took the focus off the veterans in that way. Because it just is like, "Oh God, didn't you expect that something terrible would happen here?" As I said, I really do admire Marx, like of MMA. It's one of the most human things about him. It just was like, "Here's something that's for good, and then you get this idiot, say something, and create all manner of problems for them." It was a good attempt, and then it got drowned out. Something good got drowned out. Again, I don't even mind if you try Ivanka Trump out. I don't love it, but whatever for these kind of things. If it helps these veterans, a good thing, I just think it got in the way of what the veterans were trying to do for veterans, which I think is a real thing. But they should do a lot more nonpartisan things that helps the rest of us. But any, as they say, anything Trump touches turns to shit. I felt that my dad was a veteran. I have a lot of family members who are veterans. I wanted to be a veteran. As I always say, I would have been, I would have been an admiral about to be fired by Trump right now, if I had had my career choice, but it was, I really felt bad that this was got sucked up into this ridiculous nonsense at the White House with UFC. I just the vision of you being an admiral. I don't know. That would be an excellent act. Yeah. I know. By the way, Deano White's on the board of Meditu, just so you're aware. Right. That's when it failed, because I was like, "Oh, here's something good, and here it got solid." And the story, as usual, went off onto another way, and I don't blame the media for it. I don't blame it. This guy said something so terrible and grotesque at the White House. This is where this woman used to live. You fuckers. Like back off. Like and say you, sorry. Say you're fucking sorry for that piece of shit. Anyway, go ahead. Okay. My win here is the social media ban in the UK. Britain just announced the world's strictest teen social media law going further than Australia, the country that inspired all of us. A Prime Minister Kirschstarmer announced Monday that TikTok Instagram, YouTube's Snapchat, Facebook and X will be banned from offering services to under 16s. As someone who has a 15-year-old in the house, I can tell you that I think the most negative, anxiety-inducing thing in our household is our 15-year-olds usage of social media. And people say, well, that's a parenting thing. No. They pay for the tube with their phone. If you tell them not to use social media, they're isolated from their friends and become more depressed, this needs to be a collective ban. And that's what the Prime Minister here did. There was no reason, no justification for anyone under the age of 16 being on any social media platform. Some people will say, what about YouTube? Fine. Put out a kid's version of YouTube. I'm down with that. But this goes into effect in spring of 2027. Over night, it curfews and infinite scroll limits under consideration, or excuse me, overnight curfews and infinite scroll limits are under consideration. Liability falls on platforms, not on children or parents. It's consistent with Australia's approach, which finds companies up to 50 million for non-compliance. It needs to be a percentage of revenues I would argue. And then Britain's Existing Online Safety Act has already cut visits to porn sites by a third and raised the share of children encountering age checks online from 30% to 47%. Spain, Greece, Slovenia and France are already pursuing similar bans. And Australia is 2020 December 2025 laws officially triggered a global cascade and a study of 18 to 24-year-olds found out. They're not using social media for one week. Significantly reduced symptoms of anxiety by 16% depression by 25% and insomnia by 15%. This isn't just a win for teen mental health. This is a win for democracy. The more time you spend on social media, the less you believe in democracy. One thing you point, if they had gone and tried to make a safe product, you know what they're going to do? They're going to say it's not going to work in Australia, it's not going to work. That's their argument. It's never about the thing. It's never about that this is deleterious. And by the way, speaking of which, that movie's coming out, The Social Reckoning, which is the part two of the social network. Jeremy Strong from Succession is playing Mark Zuckerberg as I know it last week. Why do they never talk about the thing? They just say how it doesn't work and how it does this and this and that. But they never want to talk about the thing, which is, are you hurting people with your unsafe products? Yeah, but again, I don't think we should fall into the trap of believing that the owners of McDonald's or Ford are going to figure out, are going to focus on anything other than what card do Americans want to drive, what's the design, and we don't give a shit that it gives you diabetes. We just want basically a food orgasm in your mouth. It's up to us as voters and we have done this to implement to apply point really smart people who decided to vote their lives to government and regulatory concerns to protect the well-being of the commonwealth. If we're waiting on these companies to start thinking about the safety and harms of their product, good fucking luck. True, but look at the cost we pay for obesity and why do we keep doing this to ourselves? That's the thing. I agree, but when you say we doing it to ourselves, the capitalist system is companies are repacious, engaged in full-bodied contact violence, not worried about other people, worried about getting a product that commands margin. And quite frankly, that works as long as you have regulatory bodies ensuring that opiates don't gut small towns in Appalachia, but again, asking, we can ask the question, we can all hope for guys in charge of AI with hushed-tones who just adopted a baby boy and he's concerned about AI and this really attractive woman who says we need to do better and we're open to regulation. They're all fucking whores. And we have built a whorehouse and the whorehouse works, but you have to have a cop. Can I call you on that? We have built a whorehouse and the whorehouse works. Go ahead. That works. That's your next book, the whorehouse works. Well, it's funny. I was just in a wedding in Amsterdam and the rosewood there used to be an orphanage and then a whorehouse and I thought, well, that's a pipeline. Oh, my God. I can't believe you just said that. Anyway. I think I know. I know. But go ahead. I get mad at us. They're doing their job and we keep trying to shame them into thinking about the safety of their product. You're right. You know what I think? You think McDonald's is just going to decide we need to have salads. It did. Remember it didn't work. Yeah. I mean, anyways, we need economic incentives and regulations that punish these people and create disincentives. I like it. But my win, Prime Minister Kierstarmer, my fail. I just spent the most wonderful week in Northern Europe. I was in Stockholm and then I was in Amsterdam and Sweden is growing. It's kind of the non-European, European country. It's growing two and a half percent. It is actually produced, despite having the population of North Carolina. It's produced companies including King, Clarna, Spotify, Ericsson. They produce a ton of unicorns and they have the industrial might or productivity of Germany with some of the innovation of Silicon Valley and the social policies of Bernie Sanders. Then you go to Amsterdam where they have become kind of the ground zero for data centers in Europe. They have ASML. If Nvidia is the pixel shovels, ASML makes the pixel shovels. Productivity is up to and a half percent. The economy is strong there. These are some of the wealthiest countries in the nation. And they settle an argument and this is my fail. America has tried to convince its population that you can't have billionaires and universal healthcare. Bullshit. These companies prove you can have really wealthy people and you can have universal pre-K and you can have child services. I spent some time with the founder and the people running Spotify this weekend and they were all in the valley. They all move back to Sweden where they are paying much higher taxes and they're fine to do it because they trust that the government is going to spend their money well. They trust that being able to ride a bike to work and have a kid with special needs is going to be taken care of and I did not see a single homeless person by the way in Stockholm granted. That's probably not indicative of all of Sweden and granted. Do they have problems with immigration and housing prices that follow prosperity? 100% but we need to stop in America believing that there's a myth that inequality and billionaires and unicorns demand a repacious lack of its safety net. And I said the same thing about Korea when I was there. They're healthier. Oh my God. It's a universal healthcare for one but the other stuff I grew. Great one. Anyways, I love. I had such a nice time. I was so blown away. I'm glad. By Sweden and I was actually my best friend, Suns Wedding Jack Markman, this incredibly impressive young man that reminds me of my, he's like the mini me of my friend and I had time. I spent, I did myself a favor. I spent, I went early and I left late and I spent time in both of those places. They are such incredibly lovely places and anyways, they trusted their governments. They're going to spend their money correctly. They trust each other, they trust, there's also really strong governance such that they attract foreign investment because they know they're not going to get fucked by a corrupt government or a corrupt politician. They also just convicted in Norway the princes, I think. I saw that. I mean, they just look, when you do bad things, you get, no matter where you are, you get not all the time. Okay, Prince Andrew. I know. I agree with you. I don't know. I agree. But he was. He was removed and they kicked him out of, they, they defrocked him or whatever the fuck they does. They do with the monarchy here. Yeah, but no, he's, he's being investigated finally, but you're right, 100% sure. Well, he'll pay a bigger price than any of those billionaires on that island. That is true. That is true. Anyway, my, my, my, my fail is this false dichotomy. We've talked Americans into believing that you can have billionaires in really robust capitalism and growth and not have universal healthcare and childcare. You absolutely can and the Netherlands and Sweden produce that or prove that in spades. Yeah. And in America, you don't have to insult a very impressive black woman in order to feel like more like a man. You can't act. Not an idiot. What a fucking idiot. And by the way, Michelle Obama does demonstrate more masculinity, service, strength than that dude. You know, anyway, I, I can't even, I saw that and I thought, Jesus Christ, like what? Jesus Christ. Thank you. I thought the, like what, what, does that kind of daughters, like, okay, are you gonna wait for some fucking idiot to start saying stupid shit about your daughter? Yeah. Anyway. Oh, we don't like them. I'm not being. And you'll slicker. Take over. Thank you. By the way, I like MMA, but fuck that guy anyway. And by the way, wait, wait, see something stronger, like even stronger, like kick that fucker out. Okay, we want to hear from you. Send us your questions about business tech or whatever's on your mind. Go to nmymag.com/pivitts and a question for the show or call 85551pivitt, elsewhere in the care and Scott universe this week on On. I spoke to Peter Ternan, one of the producers of the hit film back rooms. He talked this legendary media executive entertainment, media executive. He talked about how studios are rushing to sign YouTubers and why that's a mistake. Let's listen to a clip. Every single meeting in Hollywood over the last 10 days has been finding my YouTuber. It's not the smartest thing on earth. It's no difference in saying, find me a sequel to something else. It's worth noting. We spent three years on this project. We spent a period of time chasing. We spent a long time working on the script. We spent another year on production. And it's not just saying bet on a YouTuber. It's not just saying bet on some. It's betting on a very specific piece of content and betting on a very specific piece of talent. He is a class act and so smart. Anyway, that's the show. Thanks for listening to Pivot and be sure to like and subscribe to our YouTube channel. We'll be back on Friday. Today's show is produced by Lara Neymon, Zoe Marcus, Taylor Griffin, and Todd Weisman, additional assistance from Kate Gallagher and Brad Silvestre. And you just had to enter into this episode. Thanks, Sosperger Bros. I miss you very much. I'm Dan Shalon. The shot Cora's box meet is executive producer of podcasts. Make sure to follow Pivot on your favorite podcast platform. Thanks for listening to Pivot from Box Media. We'll be back later this week for another breakdown of all things tech. In business Cora, I will see you later in the week.