Apple Bows to Trump, Bond Market Sounds the Alarm, and Kalshi Bans George Santos

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1:00The question is simply, why choose? A new standard of modern finance. It's happening with Ripple. For informational purposes only, availability of products can vary and may be provided by different ripple entities. Support for the show comes from Core Wave. Everywhere you look, AI is expanding what we thought was possible. And at the center of it all is Core Wave. Medical research and diagnosis, education, complex visual effects for movies, science, and technology breakthroughs. Core Wave powers AI pioneers around the world with purpose-built tech, building what's never been built before. Core Wave is the essential cloud for AI, ready for anything, ready for AI. To learn more about how Core Wave powers the world's best AI, go to corewave.com-slash-ready for anything. We picked you precisely for your hair on the final date. Remember, remind people when hair looks like a scott will be, we'll have a hair desert when Scott comes back. Hi everyone, this is Pivot from New York Magazine in the Vox Media Podcast Network. I'm Cara Swisher and this is the final day of...

2:03Got reogas. Yes, it's September, but Scott is still gone. We don't know where he is now. He's a champion of his triumphant return next week after Labor Day. In the meantime, I have my final guest, co-host. He's a senior national and political reporter for MSNOW, and the anchor of Connect with Jacob Sobroth, it is he, Jacob. Hello, Jacob. What a delight, Cara. And I was confused if it was going to go to Scott free September, but happy to know it's still Scott free August. No, we can't do that. There might be Scott free all the time at some point. By the way, judging from just when you were getting ready, you were taking off your sweatshirt, and we thought you were going to do a Scott thing, which is to show us his chest, which he likes to do. And then very polite. We moved off, we appreciated that. Nobody wants to see this dead bud. Well, in any case, we don't want to see Scott see there.

3:03We are subject to it on a twice-weekly basis sometimes. Anyway, we appreciate it. Thank you so much. I'm seriously, I'm tickled to do this. This is very, very cool and fun for me. Thank you. Well, it was kicked off with Hillary Clinton, and you were the last one. We've had some great co-hosts, Caitlin Collins. The downward slide. I was just watching Caitlin. Yeah, it was good. She was great. So where are you broadcasting now from Los Angeles? This is our LA Bureau. And this now. And this is the newsroom. Well, I appreciate you being up at such an audience. Oh no. Well, you live in LA now, right? That's where you're broadcasting your shows from. Born and raised. And I spent the summer in New York. Exactly, but the fires. But born and raised here, I spent the summer in New York. And our studio here in LA is just about ready. So we're bringing Connect to my show back to LA. Oh, great. Is there a special LA thing for it? Explain your show. Be sure to just sort of start it, right? Correct? Yeah, it started on June 13th.

4:03You know, I started at MS now in the summer of 2015. And over these 11 years that I've been here, I have traveled the country and I've traveled the world. And I've been a guy in the field. I think I got the best job in TV. I love people. I love hanging around people. And from polling place lines to the border, to Ukraine, to Haiti, to Greenland, to Guatemala, getting to be around people. I think the greatest blessing of my professional life, but honestly, it really, really, it fills me up. It makes me who I am. And so we wanted to bring that essence for Becca Cutler, my boss back into the studio. And so she asked me if I would do a show. And that's what Connect is all about. It's a show about people. Politics is, it per me, it's everything we do. But I wanted to center people we don't normally hear. You're not going to see political panels. I got three hours a day. I took over for Ali Velschi who moved to Primetime. And on Saturday and Sunday, we just spend an enormous amount of time on,

5:06basically the stuff that the people who watch us care about and worry about. And we don't really do the sort of news of the week thing. How is Los Angeles doing? I just got back from San Francisco this morning. I love it here. And I'm ducking, anticipating the incoming. But I think it's the greatest city in the world. And why, why, who would, I love Los Angeles? Yeah. I don't know why I'm self-conscious about being from LA. I honestly grew up here. And I grew up, as you mentioned in the palisades that burned down in the, in the costliest wildfire event in American history. But I've spent most of my adult life on the other side of town in Northeast LA. And I think that you can get in LA a slice of anything. Yeah. And meet people from all over the world. Yeah. I always call it New York, if you flattened everything out, if you took all the buildings and went like that. Do you, do you see you enjoy spending time here? I do. I love, I don't insult Los Angeles. I don't insult California the way other people do.

6:06You know, and they just, it's a magnificent state. It's got a lot of issues. We had, obviously. That's exactly right. We had a, we had a, we had a really tough year in 2025 with the fires and then the ice rates that kicked off here. And I think it was really bruising to so many people. But the resilience of the city, we sort of modeled it here during the ice rates for everyone else. And to see people spontaneously pour out into the streets, I was out there on June, whatever it was, 7th or 8th of 25. To me, that, that, it instantly gave hope to me. And I think there's so many people in the city and so many people watching around the country that like, there's a way to band together in the face of all of this bullshit that's going on. I just introduced Chris Larson yesterday, so the billionaire up in Francisco has given a lot of money and is very civically oriented, which is unusual. And we had a really interesting discussion about what's going on there. Obviously, he's continued homeless problems, very significant, you know, climate problems, tax problems.

7:09You know, the government has grown quite a bit. But it seems like, and even on its worst days, I wouldn't rather live there than many states across the country. Amen. It contributes to so much for that. And I think people have sort of a warped vision of it that doesn't comply with reality. And of course, that's why it's done like that. Anyway, I really like, well, thank you for getting up so early. I really appreciate you. And I was in for Chris Hays last night. I don't have any makeup on other than a little powder under my eyeballs. Oh, come on. You look, oh, stop it. Stop your Clark's head, yes, of it all. You know, people do call you that, right? Correct. So it's better than Al Franken's son or Stephen Colbert's brother, although I'm honored. Oh, you get those two. No, no, no, no, no. We picked you precisely for your hair on the final date. I remind people when hair looks like, Scott will be, we'll have a hair desert when Scott comes back. May I just say, uh, propitia works and I've been taking it for a very long time. Oh, okay. Well, it's working for you. Thank you. But so we have us speaking of men. Let's not talk about them for a second.

8:10I want to mention Gloria Steinem has died at age 92. She was a feminist and active as a journalist and so much more. We talk a lot about business on the podcast and Gloria wants to describe herself as an entrepreneur of social change. She earned that title many times over. I met her on several occasions, really interesting, sometimes controversial, some, with even within the feminist movement. Very good journalist. If you go back and read her stuff, I remember loving her playboy bunny piece. It was, if you go back and read it, it's actually quite good. Where she was a playboy bunny or just to, I guess, an assortment investigative piece. It was just interesting. And just a very impactful person and it's kind of interesting that, you know, to be of I consider some of the leading feminist, Dolly partner Gloria Steinem died within the same couple of, you know, weeks or weeks or so. How do you look at this, Shage? How would you cover it on Saturday, for example? I just said to my team, I have about 25 people that work for me and I think three of them are men.

9:15I almost want to hand the floor over to the team. I got never got to meet Gloria. I did get to meet Dolly, which was one of the most extraordinary experiences I've ever had. But when I think about Gloria, two things, one, I was just reading the MIS magazine 50th anniversary, which she founded. Introduction that she wrote. And I guess I didn't realize how much of what that magazine did was informed by the readers and the letters that were written into Gloria and how much. Almost in an open source way 50 years ago, she let the second wave feminism movement, and particularly through the magazine be guided by the people who were her readers, her clientele, her customers. And I'm so inspired by some of the stuff that I was reading. The other thought that flashed her in my head is I'm the father of a tenor boy and a six-year-old girl. And when my son, I guess I'll never forget that she was the honorary co-chair of the Women's March, which was the day after the inauguration of Donald Trump.

10:17And I was in New York for, excuse me, I was in Washington, DC for the first inauguration and I was held on the lawn where Donald Trump said it was the, in Sean Spicer said it was the greatest crowd of all time. And I wrote in my first book about how I stood there on that big white empty plastic tarp and no one was there. But then I came home that night and the following morning I wasn't supposed to work. But my wife, Nicole and our son Noah and a bunch of her girlfriends and our, another kids went to the march. And I called the bureau chief at NBC News at the time, Paulie Powell, after dropping them off and said, you know, I would like to report. And I have never, ever, I'm getting the chills talking about this, seen a crowd of people like I saw that day. And I remember watching her make a speech from Washington, DC. I remember standing on the roof of man. What was that like? Cool. It was amazing. You know, a lot of pussy hats. I mean, I felt like you, you know, I'm here and there on marches because I feel like sometimes what's the point?

11:20Like I think a lot of people felt very hopeful that there was a point. And then you had, you know, especially this administration, which is, I would say, misogynist in many ways, it was great. It was great. I took my sons. I took my two sons and exactly. I didn't force them into pussy hats, but they wouldn't if I asked, especially my older son who I consider very much feminist. But, but it was more so than me in a lot of ways. And he had a great time. We had a great, we just had a way. It was a joyous occasion. That's how I felt too. And so while I never got to meet Gloria, to me in a way in spirit, that was the closest I've come to being a rounder. I remember standing on the roof of the satellite truck because I wanted to get a vantage point of how many, you know, I've been to a lot of marches. And I actually, I really do believe in the power of all of that. I've seen it. Kit Gregg, but you know, every one of those cities just in the last year. Yes, you're right. There are some.

12:21There's an extraordinary power in it. And I, I'm looking back at the pictures today. I still have the sign actually that my wife carried there. In the back of our Volvo. And I found it the other day. And to me, I can't wait actually to talk to our kids about the fact that no was there that day. And the glorious sign almost one of the people behind it. What did the sign say? There was a good sign. Love wins forever. Love wins forever. Well, that's a nice one. Yeah, it's a good one. You have a nice family. Call them mean one. No, wait, I got to find it. Where's my phone? There was some other good ones hanging. Love rules forever. Stop the war on women. Another friend of ours. Zoe held up. Women freedom. It's very special day. Yeah, yeah, I'm part of the vagina ones. I like the really funny ones, which are great. Today, it's kind of interesting. I was at when I was speaking to Joe, talking about the series, Varius on Hulu, which is about, you know, Lady Serial, Geller and anger towards men. And it's about Epstein kind of like figures and getting getting what they deserve and everything else.

13:28And it's really interesting because a lot of men have had a very bad reaction to it. And I'm like, do you understand how angry? Lots of people, especially women are and it's really powerful. It's a very powerful. There's incredible women actors in it. And just the anger is their visceral and what's interesting about Boris Steinem and then one of one is, of course Ted Cruz yesterday, before she died, said, you know, Lord help us from white liberal women, which is one idiot. Sorry. I was I said, you know, yeah, a regular link in that guy is right. Like you think about like what in the world, is it how can you want to be president of that's how you feel about a large swath of people like it's really. And if he's going to continue on in the Trump way and he's such an unappealing character, Trump had appeal to people. This guy is, you know, I has zero charm and almost despised by his people who went to school with and things like that. It just seemed like I thought about it today after he did that yesterday before she died.

14:29Or look at look at what we talked about last night on Hays' show, what Pete Hegsett posted about those two Canadian, one cadet and one soul, one train, you know, instructor at the summer camp, military summer camp for I think kids and teenagers. Yes, it is basically body shaming them. What I said on the show was what a sad loser that this is the dude that's in charge of the most powerful. Military and human history and he is shit posting. Wow, too. Exactly, but that's that is the world in which we live, which is why I'm so I'm so I think I felt so emotional today when I saw the news about glorious time and I saw the reaction of people not just on my show, but another signal chats that I'm in with other journalists and you know, it's thinking actually about the DC chain fields festival that Olivia Rodrigo put on here in LA last week. And as well, all women. So many of the same goals amazing are you, Gloria sign up, she lived quite a life.

15:31We've got a lot more to get to today. So let's dig in Apple just followed Google's lead in being a quizzling, changing Lake Ontario to Lake America for US users of Apple maps. Trump celebrated the update, writing on two social that the renaming is now complete, ratified and binding none of which is true. The name change came on John Ternas's first day as Apple CEO, taking the reins from Tim Cook. Just not as far as Google had done it before, as I said, and one company, the little company called MapQuest, which I covered 100 years ago, is back baby. The downloads of 1.5 million, the top of the charts, actually I changed myself. I forgot how good it is actually how uncreative Google maps are and changed everything. And then I've spent the past couple of days sort of giving advice to people how to shift off of search off of Google that you can go to Dr. Go or some others, which I used to talk to go and then this morning I moved to the Valdi browser, which is a Norwegian browser.

16:37I saw you post that. How is it? It's great. It's a great browser. It's a much very privacy focus because it's from Europe through Norway. I like so far so good. It's just getting off of things you're used to, right? Like you kind of do things. Now a lot of stuff only works on Chrome, for example, this software we use for this show, for example. So I can't use that. So you have to use it in some ways, but disentangling yourself a little bit or having some sensibility is hard because you can't really pick. There's things that you can't avoid. There's things that you can, but I want people to have a sense that there is choices that you can make as consumers and messages you can send. Let me hear what you think about this Lake America. I mean, a ball in the wake of. Gulf of America. Exactly. Gulf America. He talks about doing an ocean. I think it's just bothering people changing the Pacific Ocean. Now he's saying he wants to change the name of the straight or most of the straight or Trump. It is the dumbest thing I have ever heard. I want to call it the gay of hormones. It's pathetic and really sad and obviously just a massive attempt to distract us from the word of choice that he has gotten us into in 18 US service members are dead.

17:47And the USS Lincoln is rolling in rusty to Thailand and there is no strategy in the war and people are suffering in the United States and can barely afford to pay for anything groceries much less gasoline. Exactly. And what are these companies doing? What are these companies do? What do you think they're doing? What is it really? I mean, it calls back to the moment at the inauguration when all of the tech titans were sitting right behind them and they're obviously obviously in some attempt my opinion to curry favor with them. I just love the map quest thing because I used to, did you print them out? I used to print them out. No, no, I have printed them out. You don't have to know them. Excellent app. So I'm going to download the app to haven't done it yet, but I used to, I love that there. You can put it on your car play by the way. You can go on the car. I'll put it out of there. Absolutely. Okay, so I will do that. But no, actually there is some level of nostalgia. I have recently talked to so many people about how my dad collected for a long time type writers analog lifestyle is coming back into

18:56this. It is a very nostalgic feeling to even hear the words map quest and I'd so much rather be messing around with that and playing with that than like giving Donald Trump the satisfaction or I'm not sure they'll do anything about it, but at the same time it was an unusual choice for John turn us to do on his first day and quite disappointing and they look and at the, you know, at the very end of what feels like the narrow regime essentially when things could turn really quickly to do something like this. Obviously the minute it's possible this will be changed. These are easy things to change just as will you know will do whatever he did all around Washington will change back. But you know it on some level Trump is Trump, right? This is what he's going to do. He's got an obsession with names and things like that needs trying to cement his legacy. I think that's what's happening here with these buildings, all of which can be taken down by the way or moved or changed or something like that and are relatively pathetic, but it's the companies, these tech companies that continue to behave in ways that are really disturbing.

20:00It's about down. That's what they're doing and for what for what and I love actually also so it's posted about how you can report on Apple was it Apple maps. That where you can click on it and basically say report a problem with it. And I love that form of resistance is so easy to sit there and and do it and I do agree is as soon as they'll have the opportunity or soon as they feel like they have the cover they'll they will undo this. They think the Democrats will not be vengeful the way Trump is that's their bad. I tell them not to be so sure. And also I do think that you're right that the consumer we all have so few options and particularly when it comes to a smartphone, you know, it's not easy just to define something else or different or independent or certainly not get in the Trump phone if that still exists, but what you what you can do is make how you feel heard and these these sort of suggestions that you have been putting forward. I've gotten great joy out of them because I do think they're so easy to do so easy to do. Oh good. I like to do I like to bottom just to say about the rest of the stuff that he renamed. You know, I do worry that it's not it may not be so easy to particularly the stuff in Washington.

21:12Well, we're going to have the gold gold and statue and he's torn down the swing and he made tear down the candy center. If he has the opportunity just because he feels sad that his name had to be taken off of that night. There's a story that I would love to share with you, which is and we put on my show. I went there to take a look at some of the stuff that he had done around the 250th anniversary. And I was standing outside the candy center is that big silly tarp was there covering up his name because he wouldn't take it down and it was behind the tarp and a woman approached and said she had just walked from Arlington National cemetery. I think her name was Madeline and laid her brother to rest who she said in her words was a war hero. And I said, why did you come here after to the candy center to see the tarp where Donald Trump's name was under and she said because I'm ashamed of our country. And I want to go from there where she felt something so meaningful to come and take a look at where we had where we had come. Interesting. You talk about that cemetery, the arch that's supposed to go there where he's moving forward. It's going to block that view. People don't realize that it's actually Robert E. Lee's plantation. Those are all plantations back in the day.

22:18And it's been reconfigured is something quite beautiful. I happen to like some of the territories and I think it's one of the, there's a beautiful one in San Francisco. There's a lot of them. And it's going to just deface that that monument to the fallen. And so again, it's such a strange and more thing. But more seriously, it is it is distracting, but it is serious at the same time, but he's continuing his quest to find voter fraud. Something that a lot, whether it exists or not, hundreds of federal agents from the Department of Homeland Security are working at finding non citizens on voter rolls. This is very small problem. What's being internally called the unlawful voter initiative. Meanwhile, a whistleblower is warning of potentially catastrophic problems with the new US Postal Service screening system for mail-in ballots, which would be used if Trump's executive order survives the courts, which probably will not not said they still may go ahead with it. Like today in Missouri, they said they might go ahead with stuff that's already been decided around gerrymandering.

23:19The whistleblower says that the system is being rushed out without enough testing under a zero percent failure policy. One barcode error could delay thousands of ballots from being sent out. Now, you spoke with Latisha James, the New York Attorney General this past Sunday. Let's listen to what she said about Trump's crackdown on mail-in voting. If you think affordability is a hoax, if you recognize that terrorists are having an impact on groceries and on the economy, if you have nothing to offer, then you have to cheat. And at the end of the day, mail-in ballots have been secure, and the Constitution basically gives the right of elections time, place, and manner to the states, not to the president, and not to the postal system. And so it's important that individuals recognize that the election system is up to the state, and we have not had a problem with regards to mail-in ballots. Now, North Carolina is mailing ballots out this week, and many other states are moving to protect these things and urging people to use those drop boxes and everything else.

24:21So how chaotic could this get as more states start sending out ballots? I think that's the whole intention here is that he continually lose, let me back up and just say, you're exactly right. Voter fraud is a solution in search of a problem. The idea that we have some kind of widespread voter fraud, the idea that there are non-citizens voting in any way that would meaningfully affect the outcome of any election is just a pile of bullshit. Sorry. And for many, many years before I was a journalist, I was an election reform advocate with an organization called Y Tuesday.org. And the whole idea was, let's move election day to the weekend. Why do we vote on Tuesday? No good reason. And... I'll give people the day off perhaps. Make it a holiday, movies, whatever. And all these years after the Voting Rights Act was passed, our voter turnout was amongst the lowest of all, so many countries in the world. During COVID, it slightly went up because we were forced to vote by mail, forced to make voting more accessible and convenient, but also secure.

25:24And the evidence is indisputable that voting by mail is secure and is safe, it's effective, and it's a way for people to exercise the franchise. What are they trying to do? They're trying to sow chaos. Donald Trump said about his Save Act as voter suppression bill that it would guarantee Republican rule, I think for 100 years, somebody will correct me if I got that wrong. But he couldn't pass it, the Republicans wouldn't pass it. And so he went about all this other cock and made me ways of trying to take the elections. And if he cannot get this mail and if the Supreme Court blocks him from doing it, what he's going to do, so many experts that I talk to, including election observers, the Secretaries of State administrators, that he could very well use it as a pretext on the back end to go do what he didn't Fulton County, Georgia, which is to go in and see spouts and say there's fraud or this was a fraudional election. Think about like in Texas, if James Talleriko prevails there, over Ken Paxson, he will use it as a way to say after the fact these were rigged elections, I didn't get to do what I wanted to do to make elections more secure.

26:32And so now I'm going to, I'm going to go in there and send my Justice Department or my FBI and he's already doing it. He's sending these Department of Justice. I was in, I was in, where was I in Detroit, or he sent observers during the Michigan primary, he did it in Minnesota, he did it out here in LA. Although the Wyoming governor is complaining about it. The thing about election administrators is that and the people who work under them, they are some of the most civic minded, nonpartisan, dedicated civil servants that I have ever met and have met many civil servants across many different types of groups. Many different types of government, municipal government and state government, federal government. They're doing it because they want everyday ordinary people to have a say in how we run our lives. And it is pathetic that the leader of the free world of our country targets these folks who all they want to do is allow all of us to be able to speak our minds. And it comes from this place, my opinion, of just being a small person of being an insecure scared.

27:38I've talked to a lot of mayors and governors that they said they're going to have police forces there to counter, which is terrifying if there is some sort of clash at any of these places. Because they only need to do it in a couple of places, right? It doesn't have to be. The whole idea is intimidating. And I do think my biggest concern is that it will scare away these dedicated civil servants from participating in our elections. And upholding the democracy that has worked so well for so many years, there's a reason that we're 50 ununited states of voting. When it comes to our election system, the whole point is that the Constitution calls for the time, place and manner of elections to be determined by the state legislatures. So that there isn't a king in Washington, DC that is putting his thumb on the scale of how we participate. And yeah, the idea of sending ICE agents out to polling places to look for non-citizens. It's the same. It's this exact same strategy that they carried out in all these places that I was from LA to Charlotte to the hallways of 26 federal plaza in New York to work. Yeah, but the point was send these Greg Bavino in his military cost to amount into the streets to scare the shit out of people so that in his mind, people with self-deporters, even Miller's mind, people would leave the country.

28:47Greg says they're trying to kill him. Give me a break. Give me a break. And by the way, how could you, sorry, it's okay. I'm going to make a height joke. You're a very short person I can do. I'm a little high challenged also. I come in right about. I'll say I'm on the shorter side. Maybe not. I don't know. But John Greg Bavino, but anyway. Rachel Maddo says that I'm the same size in real life that I am on television. You know what? She is a giant. People have realized that she was. I'm always like sit down before we talk because you're far too tall. There's like two people I do that with. When was a supermodel and one is Rachel Maddo? She is much taller in real life. Absolutely. So all this to say, it's an effort to intimidate both the voters and the election workers and to put forward a pretext to come in and mess with the elections after the fact, which is why it's so, so, so important that everybody gets out to vote. We just did a story last night about Taren County, Texas where they've reduced by I think over 100.

29:48The amount of polling places there because they have a county commission that's three to two Republican, even though the Democratic electorate is growing there. This is one of the biggest population centers in all of Texas at a time when the Democrats could take control of the Senate there in that seat. And it's just a naked attempt at stealing the election and there'll be more and more of this. Yes, absolutely. If you can't win, you have to cheat. Yeah, that's what does James say. She's a golf and she's at most things. She's on as wise. She's a golf. She didn't know that's his kind of brand. It's interesting. Yeah, how many people are these enabled or same thing going along with them? That to me is a really interesting idea of who is who are these people who are doing this and what will be not just their regrets, which I assume they will have them is what is what do you do about that? You know, what though yet they're also afraid to show up at his silly midterm convention in Texas. All these folks that are on board with his plans that have been just this convention he's doing whatever.

30:51He says it's a midterm convention convention in Dallas. I've covered many conventions for our network. Never a midterm convention and never one where the president of the United States wants to make himself the center of the story at a time when. And they're not going. No, when his own party number one doesn't want to go number two doesn't want anything to do with him at the ballot box. But yeah, they're all there. Those are all his enablers and that's the funniest part about it is they don't want to be seen anywhere near him at this convention ultimately. No, not at all. It's interesting to see what will happen there. I mean, I just best just going to be a boss presumably. And there are some push. I mean, Tom tell us just said PDA access should go. He could have said it a little sooner perhaps not voted for him when he absolutely knew he was incompetent before. It's like Susan Collins. I was up in Maine a couple weeks ago. You know, she's concerned about everything. Quote unquote, but you know, she confirmed Brett talk about the legacy of of glorious nine. I'm she confirmed Brett Kavanaugh. Even though she was so worried about the the fate of rovers is weighed. And now she's up for election again up there and be really interesting to see what plays out.

31:57I think finally this guy's going to take her now. It'll be I think it's going to be really interesting. But yeah, there's how many of them have are now speaking out because it's safe for them to do so. I'm not telling you to tell us who got defeated because Trump came after them, you know, I call Tom tell us too late Tom and I'm not too late. I'm like, you're too late. I'm not too late. I'm like, too late. What are you doing after January exactly? Yeah, well, he wants to he wants to get on board. He wants to he wants to like, you know, Republican life outside. You can't push too far. But I have to say he did the stuff he did on. I have this including a tweet that just made you know essentially called him a drunk was in ginning things up. You know, he needs to act soberly blah blah blah. You know, that's cute. But honestly, but he did call for us that he should be fired. I read that last night. There was a couple like that. Anyway, we'll see what happens. Do you have any predictions on whether it would be successful giving your year in electoral advocate? Whether whether which part of it will be successful? Will will these efforts any of them get traction or I don't know.

33:02And what I think is that I really do think that we're going to I don't know if we're going to see record voter participation. But what I do feel as I travel the country is that people are keenly aware that not only are the policies of this administration screwing over so many people, Republicans and Democrats look at this thing with the beef. Yeah. Everybody everybody understands that Donald Trump, I think does it for Donald Trump. And I I would be very surprised if I don't know. I don't want to be in the market of I don't want to be in the business of making a prediction about who's going to win. But I I feel the energy on the streets that feels unlike any other time other than maybe during family separation during the first term when hundreds of thousands if not millions of people came out in the streets. Opposed to that policy. And I and I and I really do believe in the power of people pushing back. Yeah, I do too. I think it's really using the data center thing is are you know it's interesting the attempts again with the neighbors like book wallens the secretary of agriculture saying that Kamala Harris would put farmers in prison. And I was like you knit wet you sick of panthic knit. I mean the knit with I don't I was I was trying to be more of a knit with the Doug Bergen or perhaps Howard Lutnik saying there's no water in data centers. Another area of great.

34:16Anger. They've all sort of you know soil themselves rather significantly. That issue is a is a pretty. Pretty incredible issue in how sailing it's become is really remarkable. And I saw it and proxy. We talk about the lot. We've been talking about this for a long time. And when I saw some tech companies recently about six eight eight months ago. I was like this data center is going to catch on. You understand. People are bad especially when musk was doing this this gas powered one was hurting citizens in I think it was Tennessee and Memphis and and I they they were just sort of trying to we were to just a lunch kind of thing. And I like well what do you think is going on I said we all hate you like I said all of us like hey you me Marjorie Taylor green like all these people like you're just awful. And we've had it with you people and it will manifest itself around AI around everything else anyway let's go to quick break we get back will dig into the global bond sell off.

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37:35Hey i've got the campaign brief ready built from last quarter's data and the competitive landscape approved oh agents where would we be without you somewhere with a lot more tabs open create your first Monday agent in minutes at Monday dot com. take over back with more news if the global sell off in government bonds is pushing borrowing costs to multi decade highs the US 10 year treasury yield briefly hit about 4.8% as high as since early 2025 that is a big number that means a cost more borrow just for everyone including the US government let's listen to what our friend at park bill Cohen has to say about it. James Carville famously said that he wanted to come back reincarnated as the bond market and he says that because bond market is all powerful can topple desperate and can even get the current occupant of the

38:36global office to change his policy directions and changes mind even though he's a stubborn guy and loves to double down and what we see now is that the bond market is basically a fountain of wisdom and right now it's sort of flashing bright yellow nearly red you know 40 trillion dollars of debt 6% budget deficits warn Iran straight of our moves closed rising gasoline prices and oil prices inflation generally being at 3 plus percent is not sustainable not good for the economy and we need to start taking remedial action and quickly so basically the bond market is telegraphing economic distress and we better get our mind around it and fix it or else we could be headed for another dreaded financial crisis. By the way bill Cohen has a new book out called money to burn the unborn is truth about the on black Apollo and the rise of the new wall street. This is a really big deal this is something Trump has sort of hung his hat on the stock market raging which it has been in Wall Street has said oh we're not going to do anything about them because because the stock market is doing so well and it really is the economy and of course speaking of another sick of panic with Scott Besson to his really soiled his reputation entirely was trying to fight the bond market.

40:01Which means I was even I know you don't fight the bond market it just doesn't you never win. It knows Wall Street is hard is a greed machine and so it will do what is best for itself and in that way it's a good it's a good indication of where people are so talk a little bit about this because I think this is that goes to affordability those to a lot of issues. That's that's the terrifying part of all of this for me and I'm certainly no economist and nobody should listen to me for financial advice but what I will say is I live in the most unaffordable city and the most unaffordable state in the union it is not hard to see. The dividing line between the rich and the poor getting greater and greater particularly here in my in my home city and in our home state and I. It is becoming increasingly unaffordable to do just about anything in this country and the idea that any of the folks that I when you get into a ride chair I'm sure you do all the time you talk to people they've got almost always two jobs if not three jobs nobody can afford to do anything today and so the idea that we could have some kind of future where through borrowing money and finding a weight to build equity in homes or even to get a car or to do any of the things that we need to live our daily lives.

41:17It's going to get harder and harder is to me is a terrifying prospect but it's not one that I'm surprised by because it's a trajectory that we've been on for a long time now what way would you cover say a stock market route because this is where it's going I mean he's saying flushing you a lot a lot of really smart people I follow a lot or quite worried about a stock market crash now I know you can't ever predict this and it happens suddenly and even though it's directly the way things are going in a little terrifying that regard. This is this is all like primes for something really disastrous how would you cover that for so many people whatever whatever a bubble pop would look like they're already living it in some respects I think the vast majority of people are are living in a life that is emblematic of this of this incredible income in inequality that we have in the country and so less for more yeah what's the what is the real trickle down sure if we have a bubble pop it will only get worse and worse for the people that have already been. I'm already been experiencing it you know what I was just thinking about is the the coming back from the fires here in Los Angeles the amount of people who have been able to rebuild is a fraction of the people who lost their homes the 16,000 structures the insurance marketplace has been devastated the cost of building materials has gone up the idea that so many of them are underwater that number continues to grow and when you don't have some of the institutional levers that would help people come back it'll be it'll be a lot of.

42:45It will be exponentially more devastating so like that's one on the ground story but as I go across the country you see people every day who live with that if you want to know what it would look like for the stock market to crash all you got to do is go out to small communities all around the country because they're already living it you go places and you go down main streets and and and every other building or every building is shuttered people are looking for work at you know in ways that I've almost never seen in my 11 years doing this here. The the the way of life that a stock market bubble crash portends is the way of life so many people are already living I guess what I'm trying to say that's a very good point that's an excellent point I mean it is the cost of borrowing is the part that I think people don't realize is that the debt gets bigger and then it gets bigger because of the cost of buying again Wall Street is a very emotionless like this is what is going to cost you and whatever it happens to be and when you see a lot of it of course the stock market self is predicated on AI companies has been.

43:45So that you have you know some of them will get public some of them will do well but the vast majority of them as it did in every other internet tech thing I've covered most of them will be washed out and gone and then will be will again will be subject to just a few powerful companies and of course they're shoveling money into political you know political stuff that's in their interest not in the public interest in any way and you know even when they have kind of like shitty AI efforts like rock he's putting hundreds and probably hundreds of millions of dollars into the next elections Elon Musk is again which sort of messes up the entire process of how we both it's only going to become more acute the wealth is among us being able to put their finger on the scale of these elections in order to to further exacerbate the divide I think it's going to be the defining issue of Gavin Newsom's presidential campaign if and when he decides to run I just think that he has I do think it's one of it's going to be one of his greatest challenges that he has presided over this state which is as I said the most unaffordable any unequal state in the union where the rich have gotten richer the poor have gotten poor and

44:57well we can look at California as a leader on so many issues it's also a place where we can see what the future might look like if we don't if we don't contend with it now it's going to be tough anyway let's go on a quick break we come back we'll talk about Calchi issuing his first ever lifetime Dan the perfect lunch combo that first bite of your favorite sub followed by ice cold Pepsi add a couple of friends and now that's next level suddenly the laughs get louder the stories keep flowing and the food tastes better because Pepsi brings out more flavor more fun and more of the moment food deserves Pepsi grab a Pepsi zero sugar today you're listening to deep-gram flux TTS different voices same model all ready to seek flux TTS is a streaming text to speech model built for voice agents flux reads the room it holds context across the conversation turn after turn with consistent tone interruption handling and plenty of personality

45:59so your agents keep it flowing and customers can just keep talking try deep-gram flux TTS free now until September 12 visit deepgram.com slash keep talking term supply 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

46:59they 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 wash and 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 slash pivot get free shipping with your order and 365 day returns now available in Canada and the UK too that's cui n c e dot com slash pivot jk we're back with more news kalshi is issued its first ever lifetime ban to none other than former congressman george santa's of course for one out for george santa's what a surprise cheating cheater is cheating a regular say santa's made more than uh... seventeen thousand dollars by he's such small ball too by the way

47:59by betting on his own attendance of trump's uh... state of the union while making misleading social media post about his plans kalshi also hit tauntos with a seventy thousand dollar penalty the company also temporarily suspended three political candidates after they bet on the races of course there's a lot of political uh... anger towards these betting markets uh... in some states declaring the legal they're betting they're gambling essentially they need to be regular like gambling companies he'll probably be banned from polymarket but i i'm not sure if he will i don't i think they're less climb that white kalshi's trying desperately look legit you know to sort of be the good cop kind of thing in this market which is incredibly popular how do you look at these markets and obviously a lot of companies i don't know if i'm as mad doing deals with these people i i'm not i don't know i'm not privy to it i look at it i i look at it with the stain and i think that the the the reason i say that is that there's new reporting now that it could very well affect the outcome of the election in november because people will be betting on and then voting based on their bets

49:01um... who could become who could control congress or who could become the next president of the states i think it's really dangerous i do think it's the idea of i think it's a very very serious concern that we should all have that ultimately this will affect the outcome of the elections not because this is what people want for their lives but because this is how they think they're going to make a quick buck on these online betting markets and yeah they're very easy to cheat there's how about the story of um Donald Trump's teleprompter operator betting on on the words that he was hit with a fine yeah well the words that Donald Trump and i think they let him go from the wayhouse the words that Donald Trump would say in any given speech it is um i'm very i'm not a betting person you don't want to see me in Las Vegas as a it's pathetic uh but it's a very scary proposition to me that how would you do sentiment you can't go to just farmers markets together right like it's it's that's just sort of the caps captures the moment right that people you can't and polling has certainly been badly you know tarnish by this one especially this you're we look at Michigan Michigan Wisconsin polls aren't people betting markets are not people and and anecdotal

50:10they are their people with financial incentives often well said well said um and farmer talking to people anecdotally a farmers markets is not that is not the the pulse of the people but it's why I do it every week and why I don't do it once and I actually think I have so much admiration for the for the early late night host like like letterman or even let know who would go out onto the street and talk to people billi-eikner who would do billi on the street like when you get people in that wrong most unfiltered moment that is actually what what they think and what's on people's right right and what's on people's minds and they're not expecting it there's no calculation behind it and it's in it's what I love about it we can see it reflected in the viewership of the show actually we said a meeting yesterday we're talking about this I think people want to see themselves reflected back on television um crank I had a quote and I'm going to butcher it but it was something about holding a mirror up to society so people can see um themselves on broadcast like these and that's why I love that's why I love doing it it's not someone hiding behind a computer screen making a bet true but that you know that the watching trends are using kalshi is entertainment using polymarked is entertainment for especially for young man you know it is yeah television in some fashion and I really do I really really really do worry about that it the only thing I can do I think in addition to covering it and the negative impacts of it as as I tell my 10 year old touch grass or touch dirt like get out there and be around real people because being in a studio is a is an air condition called airless yeah air air air

51:37Yeah, exactly. We have a newsroom behind you. Newsrooms are not airless. I've been in Plenty. I was at the Washington Post, the Wall Street Journal. I do love being in this type of environment and around people and because it's early of the morning here, it's quiet. Although newsrooms are empty now compared to the way they used to be. They used to be just pubs of activity. Oh, if I can get on my high horse about that for one second, there is nothing that has made me feel more confident and a bigger fan of actually local news and the the definitional public service that they provide than what we went through an L.A. over the course of the last couple of years with the fires and then with the ice raids. I don't know if you know them, but I would love to give them a shout out. L.A. Taco is a small independent media organization out here in L.A. Memo Torres. Is he Ramirez who is who is almost on a daily basis. Track the ice raids here. K a B C one a P body award because of their coverage during the fires. For their work, the work was amazing. No journalists do swing into action when there's a crisis and I thought the fire coverage was incredible and the coverage of the ice.

52:40The ice rakes in Minnesota. There's been several stories where you have to be on the ground. Block club in Chicago. There are so many of these and the more if I was a billionaire and wanted to put my money behind something in philanthropy, I would fund a holy hell out of local newsrooms and independent journalism. Oddly enough, I said that many, many years ago to several of them. They're like, where should we do this? I was like local, local, local because the right wing was to money into these local independent newsrooms. Exactly. And because they are, they are literally were life saving in many instances during the fire. This streets on fire or that person's on his roof or that we've just seen this person where even though I was from here and on the national news, I can't get into that level of granularity about stuff. I know that was what my concept for owning the Washington Post, I was going to make it like a newsroom for the country. There's still time here. Yeah, no, he's not selling. He's not selling. Although I have to say there is gotten a lot better. He seems to be being much more aggressive in the news section on Trump. They've broken a number of really important stories.

53:42That said, he's still a terrible owner of it and should sell it to me. All right, Jacob, one more quick break. We'll be back for predictions. The perfect lunch combo. That first bite of your favorite sub, followed by ice cold Pepsi. Add a couple of friends and now that's next level. Suddenly, the laughs get louder, the stories keep flowing and the food tastes better. Because Pepsi brings out more flavor, more fun and more of the moment. Food deserves Pepsi. Grab a Pepsi Zero sugar today. Did you know that mosquitoes have killed almost half of all people who have ever lived? Today, people are fighting back. With support from the Gates Foundation, American scientists and partners around the world have developed a new generation of bed nets that can kill up to 90% of mosquitoes exposed to them, helping cut malaria rates in half. The result? A safer, healthier future for everyone. The Gates Foundation, partners of human potential. Search gatesfoundation.org slash mosquito to learn more.

54:47Cozy season is ahead and you'll be spending way more time inside. Is your home ready? Don't worry. With way fair, you can upgrade your space without breaking the bank. Score up to 70% off during their Labor Day clearance on furniture, area rugs, mattresses and more. Plus, surprise flash deals you can't miss. Whether it's one room or the whole house, way fair has pieces for every style and budget. Shop way fairs Labor Day clearance now through September 7th at wayfare.com. Way fair every style every home. Now it's time for predictions. Before we start, I do want to speaking of Los Angeles. I do want to give a shout out to Pablo Torre, who was given enormous amounts of grief for reporting on Steve Bomber has been kicked off as team for a year. He essentially can't participate paying in North $30 million because essentially he tried to find a way to pay a player more to get away from the salary constraints in basketball.

55:48And so get all these sweetheart deals. This was with like a sign company. I didn't even know and he invested in it. Essentially is a way to pay someone under the table. And you know, and these salaries get away from these salary caps. Pablo had reported a lot about this. There was a story in ESPN, a really shitty story that said no nothing was to see here turned out. There was a lot to see here. And the NBA just really smacked them hard. I think they're not going. I think the people when they have a first round draft going forward. I think they're 10 year olds right now. They're going to be able to pick from people or 10 years old right now. My son has a chance. Now your son has a chance. So I would get you that is that hitting LA in a big way. I think so. It was just on my on my family text read my dad, my brother-in-law, my brother, and I were all just texting about Pablo. I think either this morning or late last night before I came in here. I was, uh, embarrassingly for a very long time, a Clipper fan because we my parents didn't want to pay for the expensive seats to go to the Lakers.

56:49So we'll go to the Clipper games at the sports arena. I've been to hundreds. I don't know if LA Clipper games, but in the Lakers are also in flux because of the family fighting. So in the Steve Balmer era though, as it became, I've been into it once. I just started for the today show before it opened about the Olympics and how we were going to have events there. But I haven't been to the to the Clipper games in this sort of tech Steve Balmer, Steve Balmer era very much. It is, um, it's really disappointing. It's really disappointing that the team feels increasingly inaccessible when historically the team was the team of the working class in Los Angeles. Now it's going to be shitty. So it'll be free. Yeah, we'll be back to free. But yeah, he's, I think I think he's banned from even showing up at games. Um, now for every year. Yeah. Great. Um, yeah. This, this whole thing was very, very disappointing and and public Torre again to echo you. Finds out. He's unbelievable. That dude is incredible. And I'm proud to call him a colleague at MS. Yeah. You know what they, um, uh, the sports reporters usually in the can for the owners most of the time.

57:50And he should a lot of sports reporters were attacking him. Um, it was really something to see. And even Mark Cuban also said he didn't have a story here and scammers. It was blamed it on a company that did this deal. Um, and Mark said, yes, congratulations. I mean, like they all kind of called it wrong. Uh, maybe they couldn't conceive that Balmer would do this. But it looks like he's pushing. By the way, let me be fair. He's pushing back and calling it a witch hunt, which just me like don't use that word. Uh, which is, you know, he's tried to become a civic minded looking. He does have a big charity here in LA. And I do know that he spent put a lot of money through his charity towards a lot of causes and they've renovated a lot of the parks here and stuff. It's not a good, it's not good, Steve. Yeah. No, the old Steve old Steve this back. Anyway, prediction. Go ahead. Um, we talked a little bit around it throughout our conversation. But I predict that we're going to see just an extraordinary flood of people come out to participate in the midterm election. Um, more than we're anticipating the level of enthusiasm that have seen the amount of people that I'm hearing from just the vibes.

58:55Um, nobody's ever accused me of being a particularly, uh, vibey person. But when I'm out and I'm around people these days, you can sense that something is going on. And people feel uneasy and people feel like they want to take control of their lives back. And I'm very eager to see what how that actually manifests. But the prediction is, um, not only are people very pissed off, but they're finding ways. Um, I think hopefully at the ballot box that they're going to actually, that they're actually going to manifest all of that. Yeah. The same thing I believe in as voters, honestly, I have to say if I had to pick anyone, we'll, we'll Mitch McConnell be among them. He hasn't been seen in public for 80 days since nearly a bit of months since he provided an update. So why aren't we even talking about that anymore? I'm so glad that you brought that up. It's true. Where is he? Where is he? Well, now Scott Jennings is in cheer. He's coming back after. Honestly, Scott. And speaking of soiling yourself over an issue. Um, uh, it's really astonishing, it's an astonishing thing that he's allowed to do this. You know, that I'm sorry if he's sick, but he should quit that if he's sick. That's, you know, I'm sorry if anyone is in capacity like that.

59:56Uh, even people I don't particularly like, but it's gross. Um, I will get another interesting, I have a prediction, a short one about the speaking of Los Angeles, the paramount merger. Uh, it was sort of dueling handsome men, stars George Clooney when asked about the paramount merger said, I don't know how this goes through. There are so many issues involved adding I always worry whenever big companies are consolidating because it usually means a lot of people lose their jobs. He also defended Mark Ruffalo against charges of anti-semitism at paramount level against which I think they overstepped in that guard. Um, and, and then they Tom Cruise came out for it saying it'll help people. And of course he's tight. He's mobbed up with them in a really significant way. They pay for all his movies, including the days of thunder, which I'm looking forward to. I like Tom Cruise's movies, but yeah, I wouldn't I would say he has more at stake here from a financial interest to say to back them. Um, but it's really interesting that you have this kind of shift happening. I, I, I can't say unless there's a settlement and I don't know why Robonta would settle at this point.

1:00:57Right. Uh, it's because them of being liars and walked away from a meeting last week. He did and, but you know, you know, tomorrow they get settled in seconds. Um, but he has the upper hand now with this metacettlement, which would make some look good. And he looked and he's showing that people can settle. He's willing to settle in the right terms. So it'll be interesting to see if they will present anything that's acceptable now to, um, this groups. They're trying to peel off attorney generals. I don't think they're peeling anytime soon. If they get one big deal, um, but they shouldn't or they have the upper hand here. And so it'll be interesting to see if Clooney or Cruz will prevail here. I suspect, uh, Clooney might at this point. Um, he's a pretty powerful figure and Hollywood still. There'd be certainly everybody out here is watching that, um, extremely closely. And in, in our line of work too, um, you know, I think the biggest topic of conversation is the CBS CNN potential merger. And yes, I know I live it every exactly. And what that pretends have been following, um, your journey in that regard. But my journey when he, when he was on my show, he's been on my show a bunch of times. Um, it was one of the things that was fun to mind for him.

1:02:05But again, he didn't put it in the case, which is interesting. I think a lot of people are thinking about it. See, I can tell you they are. I just am articulating the mood inside. Let me say, I don't think I'm way of some people. You know, see opportunity as always, people climbing a greasy poles love to see if they can get a higher. Um, but I think most people are pretty like, I don't think so, especially after this recent terrible CBS story about, uh, Elsaid, which was entirely, uh, fictional. I don't know what else to say. That's what it was. So we'll see where it goes. But George Clooney is on the job. And I think he will talk Tom Cruz in this in this regard. And even though I'm very excited about the new day of days of thunder. Then halfway and I always love me a top gun and I love me a mission impossible, but Tom. Come on. You are actually supportive of workers. I'm surprised that you, you know, that your pro power in this situation. Anyway, we want to hear from you send us your questions about business tech or whatever is on your mind and go to nymag.com slash pivot to submit a question for the show or call 85551 pivot. Okay. That is the show. Our last show of Scott free August and couldn't have had a nicer guy with more magnificent hair to do that with.

1:03:17So I was really so jealous of your hair. He really well. Honestly, it'll be a large topic. So you pro, Pecia and and as a long time listener first time caller. Thank you so much for having me. Of course. And thanks everyone to listen to pivot. Be sure to like and subscribe to our YouTube channel. We'll be back next week with a return of Scott Galloway and watch a Jacobs show connect with Jacob sober up on MS now. Scott will be back next next Friday, a week from today. So get ready everybody. Today's show was produced by Larry Naiman. And as Zoe Mark is Taylor Griffin and Todd Wiseman, Ernie Ender, got engineered this episode in a shock. Kerva is a box media executive producer podcast. Make sure to follow pivot on your favorite podcast platform. Thanks for listening to pivot from box media. We'll be back next week for another breakdown of all things tech and business and the return of Scott Galloway. Did you know that mosquitoes have killed almost half of all people who have ever lived? Today people are fighting back with support from the Gates Foundation.

1:04:23American scientists and partners around the world have developed a new generation of bed nets that can kill up to 90% of mosquitoes exposed to them helping cut malaria rates in half. The result a safer healthier future for everyone the Gates Foundation partners of human potential search gates foundation dot org slash mosquito to learn more. Cozy season is ahead and you'll be spending way more time inside is your home ready. Don't worry with way fair you can upgrade your space without breaking the bank. Score up to 70% off during their Labor Day clearance on furniture area rugs mattresses and more plus surprise flash deals you can't miss whether it's one room or the whole house. Way fair has pieces for every style and budget. Shop way fairs Labor Day clearance now through September 7th at wayfare.com. Way fair every style every home. What if you can see what's happening inside your body pre-new vows whole body scan screens for hundreds of conditions including many solid tumors as early as stage one all in under an hour.

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