14:15 based on this logic, no one should move to the US. To understand why, speak to a Native American. Or read a book. Or read the US foreign policy that purposefully interferes with elections and installs puppets. Or read the declassified files showing the US knew Iraq had no WMDs and knew Afg didn't gave OBL and still waged a racist war to kill brown people. All to profit the war machine. Ofc only white lives matter.
48 years ago I worked for a law firm who represented lending institutions. We have gone so far adrift from reasonable people making and following rules and regulations. Lending institutions need a risk officer on the job, doing their job or the regulators in a timely approach step in to do an enforcement. Basic contract principles and practices need to be explained and understood before giving those in charge the title and pay. Thanks so much Scott and Ed for all your discussions on financial issues.
Scott’s analysis of the Silicon Valley’s VC’s starting bifurcate between those that are more aligned with American economic stability vs those that benefit from chaos was interesting.
If you don't think the folks holding most of the coins understand the entire thesis for the next bull run is bank collapse.... well, not sure what to tell ya. Now, when we discuss those being mostly the same folks. Yeah... cool tech. Totally owned at this point.
It wasn't just interesting, it was the curtain being pulled back and seeing the Almighty Oz is just another grifter. If that change in perspective becomes the norm, things can only get much better. The idolatry is wearing thin.
It’s exactly right. People think Peter Thiel supports Trump and MAGA because he aligns with them ideologically. But actually, he supports them because he thinks they will finally break the U.S. government and send it into chaos. He thinks they will bring about the libertarian, New Zealand doomsday-prepper’s wet dream.
Scott, Are you serious when you say that the new cities in Saudi will be more liberal than Dubai? You clearly haven't spent enough time with Saudis. Saudis are 10x more "conservative" than virtually anyone in Dubai. I've actually spent a fair amount of time there.
Scott recently about Facebook stock: I don't have it because it is bad for teenage girls Scott about China and Russia: I don't go there Scott about Saudi Arabia: let's watch soccer and their cities will be more liberal than Dubai What is most dangerous for a teenage girl? Saudi Arabia or Facebook?
Geographically based answer. Facebook is insidious worldwide, but in the Gulf, in my experience, you are at least aware of the rules....convoluted as they may be. Facebook bets on her not knowing how she is being judged. Merely, she must be certain that she IS being judged, and likely not flatteringly. She is never solid, never quite good enough, always needs something more than she has in order to 'check the box' (finally) That box never gets checked...FYI.
AI scares me because I believe it can effectively replace all careers, and the only competitive advantage in that environment, is to not destroy yourself by having exactly what you want given to you by the AI.
“Don’t have moral clarity” is not a statement you are selling successfully here. “Loving the energy” is not “Taking a bonesaw to a journalist is morally confusing”.
Ok, Ed. I see you cutting the bad VCs down to chuck with one key comparison. Scott, I'm glad you have him, and I hope you can afford to keep him for as long as he wants to stay.
Scott, really love your show! I'm a fan :) But on Ed's question around is it ethical to engage with Gulf, I'd like to say it's not fair for the west to be the flag bearer of what is ethical and what is not. America is far from a perfect country (gun shootings in school, BLM, sheer greed at the highest level, massive destruction in the middle east, etc.) It took the west centuries to reach to a place where women and LGBTQI have rights and equality. Rest of world, countries and cultures will grow at their own pace. Let the citizens of the country and the followers of a particular culture decide at what pace they want to progress. In the end, banning countries or sanctions have little impact on overall progress. Whereas, dialogue and engagement go a long way.
I can't disagree with Scott more on people calling out a catastrophe ahead of time. Michael Barry has tried to be a whistleblower for the harm that wall street has done. What Scott is asking whistleblowers to do is to be silent and everything will be fine. In 2008, everyone was silent and everyone got blindsided. This time around, people are FAR more informed to the what scummy behavior happens in wall street and how to protect themselves. Is there self-interest? Sure. Scott G makes a profit informing people on his opinion; why shouldn't others be encouraged to do the same? Now the question comes of moral hazard. I don't know how to answer that. What about those who have a vested interest in the collapse? That is difficult to police. However, I think informing a populace to know that everyone you're getting information has motives and biases is a great way to inoculate everyone from a contagion of misinformation. Maybe we start there?
Great POV on the narcissist , pathology, catastrophic, doom & end times personas. Many lack the citizenship in modern society. Being ex-military in the tech industry, most tech are just mercenary & lack any moral compass. When chaos hits they fold as they lack basic leadership. They have weak moral compass, are non citizen, building a better society people they don't care about adding actual value, value stream focus vs. building free consumer tech which is focused on attention, junk value, time suck/waste narcissist mindset. Its one of the reasons 95% of VC, Tech, Startups funded are only in SV, LA, NY, Austin, Toronto, Boston, DC, Seattle, Miami, which is only 20% of GDP in North America. As this where 95% of the narcissist attention economy is based (culture, academy, adtech, media, finance, tech, entertainment) Its one of the reason that 90% of VC investments are not in Industry 4.0, Manufacturing, Trade/Logistics, Healthcare delivery, Public sector 4.0, Education, Defense, Ag 4.0, Natural Resources, Energy even though those sectors are $15 Trillion in North America GDP across US, Mexico, Canada.
There might be a financial crisis, but it has nothing to do with SVB. SVB seems to be mismanagement, mostly duration issues, loaning long and borrowing short. It’s seems kinda like the Milken junk bond problem of about 1989, since new ideas need to be funded and it generally takes high risk funding. So, like Milken, the SVB mismanagement might have also included some criminal behavior.
Instead of not making payroll, make 80% of payroll... The bay area needs to have the high costs knocked down a bit. The biggest hurt will come from entrenched landlords as well as oligopoly's.
This sounds really disingenuous to me. The Saudis are ok as long as I don't look at what their doing. Banks can lend more than they have despite Government stress tests. Nothing to see here.
I usually agree with Prof G in most things, but on the SVB bailout, I totally disagree. The bankers in question made bad bets (buying treasury bonds and losing money due to inflation) and then cashing out before failure. The depositors below $250K are the only group that ought to be “saved” here. The investors and depositors over $250K absolutely 100% deserve to lose every penny. Otherwise, you have a two-tiered system that loses even more confidence amongst Americans over time.
48:00 Im with andreessen horowitz on this. They didnt cause the bank run or the lack of risk management, svb screwed up. Their whole thesis is the banking system sucks and this plays perfectly into their argument, so why not take a victory lap?
The idea that cyprto is decentralized is a ridiculous. Elon can tweet and send different coins value up or down 20-30%. That is incredibly centralized.
VC's that own or can coordinate the majority of the book also need forever low interest rates to keep their space moving. Can coordinate a bank run, while shorting bank stock and longing BTC ALL while ensuring the FED has to back off rate hikes. Pretty fuckin brilliant, honestly.
The brand Silicon Valley has become a boom town - gold rush - culture. It is a Meca of misfit foreign cultures that are not interested in the established culture compared to the financial dreams they are seeking. The "national" or locally raised culture consist of fairly rich privileged kids / recently graduated students that are all indoctrinated with privilege and revolution vs evolutionary ideas. The example comes from Mia's last comment or more so tone.
Scott- I’ve been a fan for a while and respect your opinions but your take on Saudi Arabia disappoints me. I’m sure you could give 2 sh*ts but yes indeed you are rationalizing. How much more money do you need? At what point does morality kick in?
![Stromae, Pomme - “Ma Meilleure Ennemie” (from Arcane Season 2) [Official Visualizer]](http://i.ytimg.com/vi/1F3OGIFnW1k/mqdefault.jpg)
This show is becoming a part of my required content diet
@Nelly Frittata .. +1 Agreed. . Recent subscriber .. Vail, Colorado
@@michaelschneider- this guy vails!!!
Factzzz
Well that's why you're so gant lately you've been trying to eat content instead of food!!!! -your dad
@@2brazy4ubitch Dad!?
Not sure if Prof G is always right, but he is always the realest
rillist
Ed, you're making really insightful comments and asking great questions (especially the moral one about Saudi!)....
14:15 based on this logic, no one should move to the US. To understand why, speak to a Native American. Or read a book. Or read the US foreign policy that purposefully interferes with elections and installs puppets. Or read the declassified files showing the US knew Iraq had no WMDs and knew Afg didn't gave OBL and still waged a racist war to kill brown people. All to profit the war machine. Ofc only white lives matter.
Ed growing out his hair so people don't think he's Scott's son lol
48 years ago I worked for a law firm who represented lending institutions. We have gone so far adrift from reasonable people making and following rules and regulations.
Lending institutions need a risk officer on the job, doing their job or the regulators in a timely approach step in to do an enforcement. Basic contract principles and practices need to be explained and understood before giving those in charge the title and pay.
Thanks so much Scott and Ed for all your discussions on financial issues.
Looking for a great show tonight on Real Time with Bill Maher. Scott always brings it!
Scott’s analysis of the Silicon Valley’s VC’s starting bifurcate between those that are more aligned with American economic stability vs those that benefit from chaos was interesting.
If you don't think the folks holding most of the coins understand the entire thesis for the next bull run is bank collapse.... well, not sure what to tell ya.
Now, when we discuss those being mostly the same folks.
Yeah... cool tech. Totally owned at this point.
It wasn't just interesting, it was the curtain being pulled back and seeing the Almighty Oz is just another grifter. If that change in perspective becomes the norm, things can only get much better. The idolatry is wearing thin.
It’s exactly right. People think Peter Thiel supports Trump and MAGA because he aligns with them ideologically. But actually, he supports them because he thinks they will finally break the U.S. government and send it into chaos. He thinks they will bring about the libertarian, New Zealand doomsday-prepper’s wet dream.
Wow, that was a really good show this week. Prof G for president! Let’s go!
Ur honest and straightforward. That's why they invite you
Saw you Bill Maher, glad to find your channel
Scott not going to Russia and China and being fine with Ryadh is quite something. An amount of mental gymnastics is quite remarkable.
Scott, Are you serious when you say that the new cities in Saudi will be more liberal than Dubai? You clearly haven't spent enough time with Saudis. Saudis are 10x more "conservative" than virtually anyone in Dubai. I've actually spent a fair amount of time there.
Scott recently about Facebook stock: I don't have it because it is bad for teenage girls
Scott about China and Russia: I don't go there
Scott about Saudi Arabia: let's watch soccer and their cities will be more liberal than Dubai
What is most dangerous for a teenage girl? Saudi Arabia or Facebook?
Geographically based answer. Facebook is insidious worldwide, but in the Gulf, in my experience, you are at least aware of the rules....convoluted as they may be.
Facebook bets on her not knowing how she is being judged.
Merely, she must be certain that she IS being judged, and likely not flatteringly. She is never solid, never quite good enough, always needs something more than she has in order to 'check the box' (finally)
That box never gets checked...FYI.
Yeah, lots of your typical lib, pedo, trans, prog, send ukrainians to their death for Biden=dem, talking points hypocrisy
48:14 totally nailed it, I’d almost given up on ever finding rationality online. Thanks, needed this.
I wonder if Scott would have moral clarity if the journalist that was assassinated was someone he hosted a podcast with.
🤣🤣
Scott has a unique insight, very often it may be missed by the ordinary person.
AI scares me because I believe it can effectively replace all careers, and the only competitive advantage in that environment, is to not destroy yourself by having exactly what you want given to you by the AI.
“Don’t have moral clarity” is not a statement you are selling successfully here. “Loving the energy” is not “Taking a bonesaw to a journalist is morally confusing”.
Ok, Ed. I see you cutting the bad VCs down to chuck with one key comparison. Scott, I'm glad you have him, and I hope you can afford to keep him for as long as he wants to stay.
Agree on Riyadh; I have been a few times and it will compete with Dubai in 15 years
Well done gents
"the most fortunate Americans the least patriotic". well said. fear the guy with the gulfstream and a bunker in NZ
Scott, really love your show! I'm a fan :) But on Ed's question around is it ethical to engage with Gulf, I'd like to say it's not fair for the west to be the flag bearer of what is ethical and what is not. America is far from a perfect country (gun shootings in school, BLM, sheer greed at the highest level, massive destruction in the middle east, etc.) It took the west centuries to reach to a place where women and LGBTQI have rights and equality. Rest of world, countries and cultures will grow at their own pace. Let the citizens of the country and the followers of a particular culture decide at what pace they want to progress. In the end, banning countries or sanctions have little impact on overall progress. Whereas, dialogue and engagement go a long way.
Brilliant.
at 12:50 - they are warm people. Yes they are, 100+ degree summers and already in the 90s!
Vital conversations going on here. One thing, though: why no captions all of the sudden?
I can't disagree with Scott more on people calling out a catastrophe ahead of time. Michael Barry has tried to be a whistleblower for the harm that wall street has done. What Scott is asking whistleblowers to do is to be silent and everything will be fine. In 2008, everyone was silent and everyone got blindsided. This time around, people are FAR more informed to the what scummy behavior happens in wall street and how to protect themselves. Is there self-interest? Sure. Scott G makes a profit informing people on his opinion; why shouldn't others be encouraged to do the same?
Now the question comes of moral hazard. I don't know how to answer that. What about those who have a vested interest in the collapse? That is difficult to police. However, I think informing a populace to know that everyone you're getting information has motives and biases is a great way to inoculate everyone from a contagion of misinformation. Maybe we start there?
Great POV on the narcissist , pathology, catastrophic, doom & end times personas. Many lack the citizenship in modern society. Being ex-military in the tech industry, most tech are just mercenary & lack any moral compass. When chaos hits they fold as they lack basic leadership.
They have weak moral compass, are non citizen, building a better society people they don't care about adding actual value, value stream focus vs. building free consumer tech which is focused on attention, junk value, time suck/waste narcissist mindset.
Its one of the reasons 95% of VC, Tech, Startups funded are only in SV, LA, NY, Austin, Toronto, Boston, DC, Seattle, Miami, which is only 20% of GDP in North America. As this where 95% of the narcissist attention economy is based (culture, academy, adtech, media, finance, tech, entertainment)
Its one of the reason that 90% of VC investments are not in Industry 4.0, Manufacturing, Trade/Logistics, Healthcare delivery, Public sector 4.0, Education, Defense, Ag 4.0, Natural Resources, Energy even though those sectors are $15 Trillion in North America GDP across US, Mexico, Canada.
There might be a financial crisis, but it has nothing to do with SVB. SVB seems to be mismanagement, mostly duration issues, loaning long and borrowing short. It’s seems kinda like the Milken junk bond problem of about 1989, since new ideas need to be funded and it generally takes high risk funding. So, like Milken, the SVB mismanagement might have also included some criminal behavior.
Has no-one ever watched the run on the bank in 'It's a Wonderful Life'? Exactly what happened here.
Instead of not making payroll, make 80% of payroll... The bay area needs to have the high costs knocked down a bit. The biggest hurt will come from entrenched landlords as well as oligopoly's.
The Gulf States plan: the rationalization industrial complex
This sounds really disingenuous to me. The Saudis are ok as long as I don't look at what their doing. Banks can lend more than they have despite Government stress tests. Nothing to see here.
Wondered why their was a cap of withdrawals at ATM's. Bank runs.
Freakishly good
I usually agree with Prof G in most things, but on the SVB bailout, I totally disagree. The bankers in question made bad bets (buying treasury bonds and losing money due to inflation) and then cashing out before failure. The depositors below $250K are the only group that ought to be “saved” here. The investors and depositors over $250K absolutely 100% deserve to lose every penny. Otherwise, you have a two-tiered system that loses even more confidence amongst Americans over time.
Scott, you are so honest. U make me laugh..luv ur honesty, but I would have to be really angry to use profanity on any platform
48:00 Im with andreessen horowitz on this. They didnt cause the bank run or the lack of risk management, svb screwed up. Their whole thesis is the banking system sucks and this plays perfectly into their argument, so why not take a victory lap?
great again
Who is Scott referring to as venture Catastrofist?
I guess these guys don’t understand the US debt problem
I wonder if they would have survived if they bought options on those same bonds.
@40:38 Weaponizing Government ? Please elaborate for the record.
nice!
Maybe they need to take advice from Ryan Reynolds 😂
The banking system should be like the DOJ, but obviously it's not. Will see! ' TRUST' is important, very important
The idea that cyprto is decentralized is a ridiculous. Elon can tweet and send different coins value up or down 20-30%. That is incredibly centralized.
VC's that own or can coordinate the majority of the book also need forever low interest rates to keep their space moving.
Can coordinate a bank run, while shorting bank stock and longing BTC ALL while ensuring the FED has to back off rate hikes.
Pretty fuckin brilliant, honestly.
Prof G is upset he didn’t get the gift bag with the hair restoration. 😂
If you think BA is bad try flying Air Canada.
Mandatory to wear grey shirts now?
Prof.g suddenly looks older .
Venture capitalists need a huge government slush fund that they can dip into with no legal consequences.
The brand Silicon Valley has become a boom town - gold rush - culture. It is a Meca of misfit foreign cultures that are not interested in the established culture compared to the financial dreams they are seeking. The "national" or locally raised culture consist of fairly rich privileged kids / recently graduated students that are all indoctrinated with privilege and revolution vs evolutionary ideas. The example comes from Mia's last comment or more so tone.
Sorry you missed the hair restoration appointment 😓
Now we’re all ok….right?
Media MAKES tumult.
Saudi Money... you can almost imagine the blood and oil leaking from it as you hold it
Scary word....connective tissue 😬
Scott- I’ve been a fan for a while and respect your opinions but your take on Saudi Arabia disappoints me. I’m sure you could give 2 sh*ts but yes indeed you are rationalizing. How much more money do you need? At what point does morality kick in?
Why publish a book about America's headwinds, chastise Musk about abandonment, then move to the U.K.?
It's the last part I can't reconcile.
you know the world is mostly not americans right?
@27:24 Why stop there? Nationalize & consilidate
England isnt ethical so like what was the point of that comment? 14:21
God, what's not to love about this :) adults in the room :)
I stopped following Jason Calacanis during all of this. Simply embarrassing. Would never want to be in a fox hole with that guy.
I have morals unless they pay me , but that won't stop me from playing woke and prosecute others
What's an "oscars"?
Bring on the mkt crash. Have 1 mil in cash waiting for past 6 months.
Same...but past 17 months. Let's fugg'n get to work.
That young crypto man got roasted in earnest.
49:40
.75.
2nd?
Saudi... 911...
55:32 "the most fortunate Americans are the least patriotic" - #NoLiesDetected
I think ur handsome 🙃🖤❤❤️🔥💔🧡
Lol david ballz sack scared to talk to swisher 😅😅😅😅
I guess ethical/moral blinders will always be for sale. Disappointing.
I'm first
Not.
😁
Too long. Self promotion.
😅 ur a mess...how dare u miss the oscars
Scott might enjoy this clip? ruclips.net/video/QwL0ql0OliA/видео.html
Thanks Ed for always asking the questions we are wondering.