Resist and Unsubscribe with Gov. Tim Walz

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Bare walls, clear surfaces, the minimalist aesthetic is having a moment.

And for some, it's a form of resistance.

I think a lot of people have a sense that we live in this very consumerist society

and feel kind of a desire and need to push back against that.

How to live with less.

That's this week unexplained to me.

New episodes, Sundays, wherever you get your podcasts.

That's a word we need to be established.

It's a good word to use.

They use it in Britain.

You live there, right?

Don't they call you that all the time?

Yeah, that's one of those words that I should never ever say for any circumstance.

I'm Cara Swisher.

And I'm Scott Galloway.

And welcome to the first, resist and unsubscribe live events at the Pantages Theater in Minneapolis.

Yeah.

Whoa.

Man.

Thank you for showing up tonight and helping us support the Immigrant Law Center of Minnesota.

We're recording tonight's show.

We'll run it on the Pivot Podcast Audio Feedin' on our YouTube channel.

We're going to do a lot tonight.

We'll talk about some headlines just like we do on a Pivot Show.

And Scott will give us an update on the massive impact of resistance and unsubscribe.

People have questions and Scott's going to answer them and how much it's made.

It really has.

And I'm glad he's to be here to support it for him.

But first, we have a special guest.

We're going to chat with tonight.

We always have special guests.

You don't know about.

Please give a round of applause to Governor Tim Walls.

Wow.

Oh, how long long, remember me

Time is living and remember me

That's why I'm always down

Oh, yeah

Good

Wow

Wow, maybe you should tell Klobuchar, you changed your mind

No, this is what happens when you don't run

Yes, I don't know

Oh, suddenly you're popular

Yeah, okay

All right, I think we're going to start

We're going to ask him a bunch of questions

We've done this on all the tours that we've had

And we've had a great time and had a...

We had lots of governors and various things

But first things first, what was your immediate reaction

A Christie Nums departure?

Self deportation

Well, I was trying to act all serious and say

You know, I'm not a petty person and then I checked myself

And I said, in this case, I'm petty as hell

So...

So it was...

And I was saying this that I knew Christie Nums a member of Congress

And when they get in the orbit of Donald Trump

Because I think you would have considered us friends at one time

We authored some legislation around water quality and things like that

And then all of a sudden it turns into this

But I think for me

What happened here in Minneapolis

Was so far beyond the pale that the sense of...

The sense of anger I had towards her that

Whatever happens isn't enough

That's kind of the feeling I'm had

Whatever she has coming yet

So...

Thank you

With justice, but...

You said last week that Secretary Nums should probably get used to spending more time in Minnesota

Because we've got to get accountability

How are you planning on getting that?

Well, look, there's...

And I would make my pitch to the U.S. Congress

And especially with her, I guess, replacement in Mark Wayne, who I know too

One name, we're all getting that

I'm making my pitch to them

I know he's having a problem with the border between names

Yeah

Well, they can't...

They can't...

They can't do...

They can't fund these people

And they can't give them without putting guardrails back around

And I've been...

I think Minnesotans are demanding

Before they do anything confirming someone else

We need to make sure they give us the investigations we need here

Bringing those people back

And holding accountability

The...

The both physical and moral injury

That's happened to this state demands that justice be carried out

So, look, whether it's...

Whether it's County Attorney with Mary Moriarty or Keith Ellison

Both have talked about it

Both are incredibly talented

And both of them will get justice

And it's, of course, with Renee and Alex

But this people in Minnesota know

There are literally hundreds, if not thousands, of things that were done to Minnesotans

Both physically, mentally, economically

Somebody has to pay

Somebody has to pay a price

Do you...

Do you imagine trials with her?

I mean, she will say she's acting...

She was acting at Stephen Miller's best

Well, it's out of my wheelhouse, not being an attorney

But we all know in history

Saying you followed orders didn't get you out of anything

Just following orders didn't get you out of anything

And somebody issued those orders

And she was more than happy to tell us she was in charge

As she wrote her horse around telling us that

So yes, I think when you're in elected office

And you can make mistakes or whatever

But this was not mistakes

This was a blatant violation of human constitutional rights of Minnesotans

And she spoke to that

And I was in Congress last week too

And mine went a little better, I think, than hers went

But she claimed that everyone knew on this

But I will say this, that yes, I think that we need to find out

There certainly needs to be investigations

And if those lead to indictment trials and imprisonment for the people who did these crimes

That needs to happen

But I would just leave with this

It all goes back to the top, this is Donald Trump's started this

Donald Trump did this

Let me ask one question then

Scott will have one

They're trying to equate her with the right

I've noticed is saying the fraud around this ridiculous commercials

The $200 million given to a friend of hers in some fashion

Or Corlein Lewdowski

They're trying to equate it to what happened here

A fraud that happened here

Like if we go for fraud there, we got to go for fraud with Christie

There's a big difference in fraud and corruption

People stalled from the people of Minnesota and those people are in jail

We'll continue to do that

Ironically the amount that we know with our feeding our future scandals

Exactly what she spent on the writing the horse scandal or whatever it was

But this goes a lot deeper where people in government directing money towards their clients

These were criminals that stalled from Minnesota and Minnesotans caught them and put them in jail

So it was on the pretense of this

And there's folks that need to be accountable

I've said to all the Minnesotans over the next 10 months my job is to make sure

Again, I am not going to apologize that Minnesota has incredible social service programs

That lift people up, feed hungry kids, put people in

I will

I will tell you it is my responsibility to make sure those programs are secure as possible

And that's what we're doing

So they're not interested in any of that

And that's true

They were, they go to Louisiana but that's another

Straight up corruption of people taking money

And you know the false sense of they come here they you know right wing social media

Here in Minnesota there are folks that invited those people here

There are people here in elected office who will not condemn what happened to Alex and Renee or Liam or anyone else

And their accountability will come in November but there still needs to be other avenues to make sure that justice is served

Scott

If America calls you and says we have word or suspicion that ICE is about to have an equivalent presence to what happened in Minneapolis

What advice would you have specifically?

What do you think you got right and given you know you were in sort of uncharted territories

What did you get wrong? What would you do more of what would you do less of if you were advising a mayor about defense?

Well just to be clear our governor excuse me

What happened right and why they left was because of the people on the streets

It wasn't the elected officials they left because of that

And

Parent teacher organizations that turned into food banks and you know soccer

And basketball carpools that turned into protecting children and parents surrounding schools

What I would tell them and I don't know if you can you can't replicate it immediately

But that old adage that all politics and all action is local

Minnesotans take that to local to your house and the house next to you and the house next to you

So my take is make sure as elected leaders

That you're watching where the organic leadership is coming from

Make sure you're not doing anything to interfere with that

And we were getting a lot of feedback from folks on the streets

And to be prepared and make sure that you are ready to make these decisions that need to be made

Without any coordination like everybody in this room knows never Minnesota knows

We always work with the federal government and the FBI sex trafficking you know drug trafficking things like that

They came in here and tried to make the case that we don't cooperate with them

And I'm telling you this at the end of the day when Donald Trump and Tom Holman stand up and say

Well, you know Minnesota finally cooperate that's where we're leaving

We didn't change one damn thing we were doing before

Because our job is not immigration reform

We are not going to spend our resources going after people who are trying to follow the path towards citizenship and get here

So my advice to them is stay in your lane

There's nothing you're going to do like all of a sudden we would say

Oh sure we're going to start giving you names or something like that

I the thought of that these states that are saying because when the president called me said well we didn't have this problem

In New Orleans or or you know somewhere else and I said

We said I said well I said you didn't shoot people in the face in those states

You didn't do things and I said and he asked what's wrong with the people of Minnesota

And this was on the call I said not one damn thing is wrong with the people in Minnesota

So it's being organized it's being ready as elected officials

And I think what we learned in Minnesota the coordination between different levels of government

Because I think it was within a matter of minutes of of Renee's murder that Mayor Fry called right away

And things were starting to be put in place but just to be very clear

State and local governments were following the leads of the organic leadership on the streets

And watching what did that and that's the advice I would give

So it's one of the most important parts of this and I think most of the country got a lot of inspiration from it

But Minnesota and the cooperation with the federal government didn't seem at that point cooperative

At least with Greg Bavino may he whatever in Pete

I know it's an easy one he'll be on dancing with the Nazis someday

But and with Cash Patel as it turns out if you'd give him a surly beer he would have been fine

He likes beer

Who chugs it

What like like a fresh college that's how he chugs like a like you're like oh we're a bad chug

What adult goes into a locker room that you had nothing to do with and acts like it had to do with you

Here's my take on this for what it's where I was telling them backstage they said well we have to be afraid I said I don't care

I can say whatever I want right now

And so my thing is here's something we have to bring back shame has to be something these people don't feel shame

You have to be ashamed of yourself

I think the problem is you're dealing with people who are shameless and I say that about the tech people

So if they don't have shame they are shameless

So Minnesota residents as you just know an activist group say that arrests are reportedly still happening every day particularly in the suburbs

Talk about what local authorities are doing about it and then White House borders are Tom Holman

Promise Minnesota would be down to 150 ice agents by last week has he has he kept that promise?

No, no, I don't believe so and this is the other thing. It's very difficult for us to confirm that

And one of the things is I I again

Whether there is 650 here or not the threat of them being here and the mental

Stress that puts on especially our immigrant community

It doesn't really matter whether they're here or not. It's interfering with their life. It's causing trauma

It's doing all of the same damage and so I

No, I don't believe they probably have they they look all of us here

No, she did not get fired because of what happened here

She got fired because of those ads and they left Minneapolis not because they did some they thought they did something wrong

They left because it became politically damaged to them. I believe if they get an opportunity again

They will do the same thing somewhere else and that's why

Minnesotans I tell you this I was in Idaho last night for the Idaho Democratic Party by the way

1200 people largest it's ever been 800 waiting to get their Idaho Idaho

Every single every single one of their they they're outnumbered 102 to 13 in their legislature

The Democrats are but they have candidates in every single district

But when we got we got to town the Minnesota flag was unfurled on buildings as a sign of resistance so

So

So I talk about the Democratic party on more metal level you end from almost being vice president to facing

Impeachment articles in your home state and a lot of good luck with that

And a lot of people would argue that as bad as the Republican party is what makes a lot of progress of the angry is the Democrats don't seem to quite frankly have their act together

That we

We want to join a resistance but quite frankly we want to we want to join a more competent aggressive resistance

As someone who was on the front lines right you're in the home of the Bob sled what observations and what advice would you offer to Democratic leaders

Around building a resistance that people are just quite frankly more excited to join

Yeah, and have a more full more full-throated response to being a part of no I agree

Well look

I've said it here and it might be the wrong person to say this because I you know I accept my responsibility because we would not be in this crap show

If we had if we had won but what I think

The Democratic party is is one is

We're prisoners to kind of

Norms more a's that are out there were prisoners to our institutions and I will give you this and I detect folks drive me as crazy as they do you the one thing they possess and I will tell you I don't do this on more of a rule

Follower this idea of totally breaking something now

I would usually think if you break it you have a better plan to go forward

Democrats tend to be you know we got to listen to the system we have to send a strongly worded letter

People are sick of strongly worded letters and I made this case I made this case in

In 22 I said if we're going to ask Minnesotans to vote for us and give us a trifecta and this was with Melissa Horvin and Carrie Dezick and the leadership there I said there yes

And those two women knew it

The Democratic party's got I think in the past has been

People want to see a direct connection to what they voted for and what they work for to an improvement in the life and the things they asked for

And I remember after that legislative session in 23 where we did paid family and medical lead fed our kids, you know did

Child tax credit 2040 all that whole listening new flag all of those things

I had a young staffer who worked on my reelection campaign on that and we did cannabis and everything and he looks at me

And he said well this wasn't that hard we got all this stuff done and I'm like god dang

We've been at this for 20 years, but it was a real telling moment on this is if you want to get people excited

You want to have them believe then actually do something and here's what I say I don't going to give Donald Trump credit for anything

But what I have learned from what they did

If they can break every institution to try and go into people's houses or to kill people in the streets or go into wars that are illegal

Then we should be able to break all the norms to give universal health care break them off to protect things that we want

So who do you who do you imagine best represents that right now in the Democratic Party?

Here's my take on this and I said I think right at this point and I think it's healthy

I think we should all agree we need as broad as possible as we go past the

A broad as possible people out there as we move to 28. I don't know if that person's out there yet

But what I started last January I was doing town halls in West Virginia, you know, Ohio where I was saying by the way

Everybody's telling you you know

The road to you know, you're the road to totalitarianism

I said is littered with people telling you're overreacting and I said we're not overreacting

I was encouraging everybody to enter the fray and fill their lane because I find great joy every day

I regeven new some stuff what he's doing. There's joy in a hitting him at that

There's there's JB Pritzker's out there. I see people like Gretchen what there's there's a lot of people out there

I don't know who's doing it, but here's what I learned Donald Trump can suck up so much oxygen

There isn't one single person that is kind of the counterweight to that

But what we saw in Minneapolis is strengthen numbers strengthen unity and I want a bunch of folks out there

We just have two more questions for you. What does that mean for your political future?

Well, I'm I have 10 months to continue to build

What we've done in Minnesota. There's 11 so yeah

I think I still have a voice to go out there and and make the case to to get young people involved again to get

Like in Idaho that is pretty encouraging to be in there with 1200 people in Idaho who are sick as hell of what's going on

And they were there to you know, what can we do about it? How do we get organized?

So I think for me taking that message getting out there. I want to get

Out on the road after this and do some more and to help and and my goal is just to make sure and

Scott your point was there is not only to elect a Democrat

I want to make sure that that person we elect we hold them accountable to passing the things we know we need to get done

How long have we bought on this health care thing the days of arguing that are over whoever wins in

28 in early 29 better fix the health care system in a way for people better strength in the middle class

I want to be part of that. Are you interested in that would New Hampshire be a place you might stop?

Are you interested in running? I just interviewed Gavin and he said no, I am not, but I am interested in being a part of it and

In the ambassador ship to the Bahamas if that's available, so

All right, I have one last question

Herschel Walker, by the way, is the ambassador to the Bahamas just so you

So the last question is the Republicans using the scandal to it was partially one of the reasons you left

I think or maybe it wasn't you can correct me, but Republicans say the scandal proves Minnesota's social safety net is broken and

Democrats say it proves we need better oversight not fewer programs

What has concretely changed since these stories broke and these

And every state will they broke five years ago and folks are on it

And I I remind people that we told the Department of Agriculture and they didn't do anything, but I alone this

What's changed is is we have pre-approvals we have things in place, but again as you see this they are not

Interested in stopping the fraud. They're interesting in taking away meals from kids

They're interested in taking away Medicaid from kids and this is why this is not a victimless crime

And it's why I'm so angry about this because it weakens people's trust in the institutions that are absolutely needed

What I would assure them is there's numerous things I will fix this they won't they've got corruption, but what I can tell you

We're not going to move one inch. We have the most generous social service programs

And there's a reason that we rank at the top on army of categories

So my job is to clean those programs up make them more secure

But I totally reject where they're at and and to be lectured by

People who spend a quarter billion on horses to be lectured by the crypto brois with

Don Jr. Whatever to watch the the Trump family make money and I remind people on this I was the guy who authored the

Members of Congress shouldn't be able to trade stocks or own stocks and I

Thought it was I'll just leave you with this that difference between

Fraud and corruption

I really thought it was a flex when the Wall Street Journal did a big breaking story when I got onto the ticket and said

We believe in our analysis that Tim Walls is the poorest person to ever run for vice president

Well, you didn't elect me to get rich. You elected me to do the job

And so I'm not gonna I'll take my beating, but we're not gonna do it

So last question you've had a rough year or you've had a stressful year

What advice would you have for young people who?

Have this incredible a sin a professional life, which you have had and then you face disappointment and you face a tremendous amount of stress

I was we were talking backstage and I said

Incorrectly, I always feel like I know what to do which is dangerous and I remember when I saw the situation here

I remember trying to put myself in the shoes of a government leader. I just would have been so flat-footed

I just wouldn't have known what to do. I can't imagine the stress and quite frankly the disappointment

You have likely registered personally the last 12 months

How do you deal with that? What is your own process for managing stress and disappointment and what advice would you

Have for young people who have mostly just known success. Yeah, and then face real stress and disappointment

Well, I think you do look good. Yeah, it's great. Thank you

Have you considered running for governor of California? Yeah, there you go

No, look I I approached this job. I was 40 a schoolteacher in Mancato

I had no politically experienced no money and and no connections

I approached it as an opportunity that if I had a skill set they could help and it's the same way I told the vice president

I said you pick the person who gets you elected if you want me to go to Omaha and get a point. I'll do that

You just tell me what to do. So I always approached it as it's public if this isn't my

My concern this year and especially around making decision to run again

My number one concern was we needed to hold the seat not for me to set in the seat

But for us to hold the seat and now Republicans are totally screwed because they're not gonna win any elections in Minnesota and so I

Here's my advice to young people and I've told my team this in these jobs and the decisions you have to make or whether it's at 4 a.m

To know your best friend had been killed or to watch George Floyd or or those things you you elected me

To make those decisions the best of my ability surround my seat people who could make good decisions

But I say the way you manage the stress on this is I know we make every decision in the best interests of Minnesotans

We try and do it as ethically and as obviously following the law as possible

That's the way you sleep at night knowing you did the best you possibly can and it because I've asked I don't know

Some of these people sleep and it might be what you said they're shameless. They don't have a conscience

But I would tell young people and it's what we need

They've got horrible role models right now in many cases

But there are public servants out there serving and there's numerous ways you can do this whether it was to be on those streets

Whether it was to be in those food banks whether it was be standing at the bus stops helping kids whether it was be writing letters

Where it was be donating to the immigrant law center who's doing incredible work?

Find a way to find a way to contribute because I think what what Donald Trump did and what social media in a modern world is done

Why we should be more connected we feel more isolated and I always said this as a coach

I knew this that people it wasn't about the X's and O's

It was about being part of something bigger and I know that sports gets overblown the analogy

But you get a pass, but go ahead. Well, Trump Trump figured it out make people go to those rallies because it's a place

They want to go he even gave them a uniform in the red hats and he made them feel like they were part of something

What you saw in Minneapolis was community is still real it is still there

There are still places you can go places you can contribute find your community

Contribute to it make a difference because I think all of us know every research does this

It's it's far better to give and to help and Minnesotans by the way

None of this surprised the people in this room because it's all a correlation to highest voter turnout highest volunteer rates

Highest donations to charity, which what we do and happy very very last question

Are they still weird

If I had to do it again, I think I would have used harsher language, but

Don't know. Yes, they are cash but tell look that little dude jumping around. I

Don't what's your new word?

We have to and again, there's something about it that belonging whatever and and I don't want to say it like

flippantly or whatever but people want to be part of an organization that they're proud of that things are happening

We have the capacity to do that and one of the things is more challenging for us

They set a small parameter and you either conform or you're out of the cult with us. We're proud of our broad big tent

But that also means

We're gonna have to figure out ways to make people feel more

More a part of it and so I think there's there's somebody out there

Look, there's a lot of exciting people out there would and again

I I swore this got that I would never beta or works one of my dearest friends and after the last time

Beto ran I said I'm not putting another penny in Texas dammit. It's taken money

Anyway, now we got James Taylor Rico. I said okay. I'm putting a penny in there

Anyway, I want everybody to thank governor wall. Thank you governor

Yes, great. Thank you. Thank you. That was great. We really appreciated. I like this socks

His Minnesota socks. Did you see them? You want to see mine a little different says 100% that bitch

I'm not running anything but my mouth tonight anyway all right when we need we need to take a quick break

And when we come back we'll get to some of the latest headlines

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Scott, we're back recording live from the Pantages Theater in Minneapolis.

Let's get to some news starting with Target. It's one of the biggest employers here. I know.

I know. It's one of the biggest employers here in Minnesota has been getting heat for not pushing back on ice and the Trump administration

to Minnesota target employees who are U.S. citizens were detained by federal agents back in January, feeling protests and boycotts.

Target's new CEO gave an interview to the AP this week. He said the company is working to, quote, win back trust and the employee and guest safety is their, quote, north star.

I have never heard such fucking nonsense in my life. I interview a lot of people and I knew Brian Cornel who used to run it for a long time because I covered retail.

I thought that interview was the worst interview I've seen in a while. It said nothing. It was all talking points. It went out on no limbs. It was on brave. It wasn't genuine.

People have a great emotional relationship with Target. They have over the years. I mean, there's other issues they have.

But I thought it was a real missed opportunity for a CEO not to have a fresh start. Brian had been tarnished and rightly so for dumping gay flags, as if that's the biggest deal in the fucking world.

It was an opportunity it missed. Obviously, there's secular issues happening around retail. But Target, for a while, was really on a tear. Your thoughts?

Yeah, last century. Target's a great company. They carved out a great position. The last 20 years, they've returned about 7% a year.

The S&P is up 16%, Walmart's up 23%. So the bottom line of Target is vastly underperform the market. That's what's such a shame. I look at this through a shareholder lens.

That was a big opportunity because I think the biggest commercial opportunity I've been saying this for six months is for someone to elegantly in a non-personal way, basically to say no and demonstrate that we have stronger fidelity to our stakeholders in the Constitution without being personally vindictive around the Trump administration.

This is a huge opportunity and it looks like Dario Emote is taking it in the last week when he's kind of refused to comply with the Trump administration. He's since backpedled a little bit.

But the annual occurring revenue of Anthropic has gone from 14 to 19 billion. So the opportunity for someone to push back was enormous. And quite frankly, the CEO of Target missed an enormous opportunity.

Right now, what this city deserves is spine, not spin. And this was just such a lost opportunity. And I'm going to name job because I'm desperate for your affirmation, but I've worked with probably 150, the Fortune 500 CEOs at some point in my career. And whenever they put out a press release, I know exactly what happened here.

This was a press release that was gang banged by about a dozen eight hundred dollar in our communications consultants that were worried about different interpretations.

I used to write CEOs press releases in their IR and I'm like no more than two people can work on this because we'll get diluted into nothingness.

And also what I like to remind CEOs of is when they get stressed out about saying something or potentially a fending shareholder is like, dude, you're already rich and you're going to be dead soon.

So why wouldn't you say something? This was such an enormous opportunity to say to basically stand up for employees. He would have been a national hero. So many people would have said, you know what, I think I'm going to shop in Target this week.

This was the mother of all missed opportunities for shareholders.

So why do you again besides the I like that spine not spin you spent all day thinking that one up. I like it. I did.

I'm going to steal it. But when you have that when when when they didn't do that because again, there are secular issues around retail.

We all know and we are aware of and that even Walmart, which was the juggernaut is only up 23% but what would you this person had worked has worked their most of his career as a career person.

How difficult right now is it for CEOs to do things like that because you don't you keep saying there's going to be more and more of them.

And Dario did back pedal a little bit like he said he's called Trump a dictator, which is technically accurate. But they but they but he kind of walk back saying I shouldn't have been so rash.

He's still suing the government, suing the government for the behavior.

But we've talked about this. Look what's needed is the following. There's a lack of leadership amongst. So I'm friends with a guy named Jeffrey Salonfeld who runs the leadership course of Yale who brings together the largest

competition of CEOs in the country. And I've been having dialogue with Jeff and I said, Jeff, you're the hero we need because the reality is you have to be empathetic to it's very hard to go first right now.

And that is if you go first and you say I'm the president's enemy, the largest customer in the world is the US government. And it also has the ability to basically new to your company and you do have a responsibility to employees and shareholders.

So what's needed is collective action. And that is somebody has to get 10, 50, 100 of the fortune 500 CEOs to basically put out, you know, a real letter saying this is just gone too far.

And there are certain constitutional and democratic and civil rights that have made these companies the best performing companies, the best performing organization in history is the US military.

The second best performing organization in the world is the US corporation. And one of the reasons it's performed so well is basic separation of government and business uniform systemic laws that you get to oblige by your your compliance to but also you have the same treatment.

And they could just put out a fairly letter that says we're just not down with what's going on. And it needs to be 50 of them because right now what they all say.

And I've heard from probably about 20% of the companies are asking you to resist and unsubscribe from. And they all make a big point. They're like it's really hard to go first.

So there's a lack of leadership or there's an opening for someone to organize a group of them to push back. But the fact that effectively in the last week, I think anthropic has become more valuable than open AI.

You're going to see more knows all of a sudden a bunch of CEOs are going to reach down and find these spherical things and decide to speak up.

Well, speaking of which, let's go over anthropic. The Pentagon is officially labeled as a supply chain risk. But the company says it won't impact business partners as much as Pete Hegg says implies. And the band will only apply directly to contracts with the department.

I'm going to call them Department of Defense because I feel because it's like the Gulf of America. Dario Amode is also apologizing.

As I said from memo, he basically said the White House punished anthropic for not offering, quote, dictator style praise.

What is happening here? There's a person, as I've talked about, a guy named Emil Michael, who was a tech person, who got, who got, who had to leave Uber under very bad circumstances, including reporting by an organization I ran.

Really a bullying toadie is how I would describe him. But Hegg said, let's use him pretend he knows what's happening.

Do you think he's they're going to try to go harder on an anthropic now? And what is the price? Because he did pull back some.

What do you think went into that from a?

I think they're distracted and the only way the only thing I'm fairly certain of is that again, I'll go back to my consulting desk.

Actually, a wonderful kid are his heroes used to work with me. Kid is now three kids, listen to soda.

That means you're old, but go ahead.

But I always used to say before we'd go in to talk to a board or management, who's in the room that's not in the room.

And that is there's always a context or atmospheric in a room, companies are highly politically charged places with leaders who have a disproportionate amount of influence even when they're not in the room.

I'm like, we're going in and we're talking about you commerce or shareholder value, but who's in the room that's not in the room.

And I believe almost every decision being made by this administration is two people who are in the room and not in the room.

And that is whenever you see anyone dealing with the press or congressional testimony, Roy Cohn is in the room.

And if you look at Roy Cohn's, Roy Cohn was Donald Trump's mentor, attack, attack, attack, insult, lie, deny, never acknowledge, attack, attack, deny, insult.

And basically, one of the greatest brand erosions of the U.S. government is there used to be a certain decorum and civility when you testified in front of Congress.

We weren't that nation that broke into fisticuffs. We started throwing water at each other.

That's gone because Roy Cohn is in the room.

The second person that is present in every room, right now, right now, every decision is Jeffrey Epstein.

And I believe, and I've said this over and over, that there are three very smart people armed with every LLM monitoring the temperature of the proximity between Trump and Epstein's name in the news.

And when it gets above a certain temperature, they then ask the LLM for what action would create the most controversy, no matter how ridiculous it is, we're taking tariffs to 50% on Spain.

We're going to invade Cuba, start calling someone racist names that will push the temperature down again.

I think that Roy Cohn and Epstein are literally in every room.

So who is in Pete Hexest room besides Jack Daniels?

No really is this friend from high school.

I don't, I think.

And probably grammar school looking at him.

Yeah, I think that Dario is going to get let off the hook because my prediction is in the next two to four weeks.

Other CEOs are going to step into the void, the vacuum of leadership here.

So he'll get some help.

I think he'll get some cloud cover from other firms that'll start saying any production of what firm that would be.

It's not going to be Jeff Bezos.

I don't know. I really don't know.

I feel like it might be Ted Cerandos, someone like that, because he doesn't give a fuck now.

Yeah, Ted is in a position to do it now.

I mean, in fact, we're going to diversion here, but walking away, it's so funny.

If you wrote a book called The Worst Acquisitions in History, you just might as well call it Warner Brothers.

And by the way, I wrote that book.

You did not read it because you know the book on AOL.

Yeah, I wrote two.

Yeah.

I was called there must be a pony in here somewhere.

I was having a bottle of Lancers and watching and listening to Cisco when I read that.

And the English beat.

All right, finished up.

I got an English story.

But effectively, they walked away from $120 billion deal.

So they have $120 billion.

There's stocks up 24% since walking away from a deal and they're the 60 billion.

So my suggestion to Ted is, you know what?

You've just saved $182 billion.

You know what's worth $178?

Disney, which has the most offensive business in all of entertainment, which is the parks.

The reason I bring that up is, again, Warner Brothers is about to be the worst acquisition in history.

Yeah.

There's absolutely, there's basically, there's a basic rule.

Sherry Redstone, Edgar Brahman, Jr.

Now David Ellison, the wonderful thing about income inequality.

Unfortunately, because of our tax structure, we create dynasties.

But when we had a more sane tax structure where we taxed estates because we didn't believe in dynasties,

it had, we had, didn't have such added control income inequality.

Because here's the thing, rich, the kids of rich people are usually fucking idiots.

And they usually spend, they usually spend all of their dad's money because they're under the impression that being rich makes them smart.

And they start making really stupid decisions.

Yeah, that's been my experience.

I always say to one of them, I can't remember who it was, one of these kids.

I said, you know, it's that you were born.

The only people paying these prices in media are their children or rich people thinking what they're doing.

No, they are, but I mean, their ideas, they were born on third base and they think they've hit a home run.

And they haven't.

And it will be a disaster.

You're right.

Speaking of unusual people, some Elon Musk news.

He was in a courtroom this week, investors are suing him, claiming his 2022 tweets about pausing the Twitter deal,

tank the stock price and cost them a ton of money.

Elon's defense, he says, he put the deal on hold because he genuinely had concerns about bots and fake accounts.

If the jury doesn't buy it, he could be on the hook for close to a billion dollars in damages.

He's managed to, to anxious his way out of so many lawsuits, the pedal lawsuit, the other one where he said 420,

what do you think about this one?

He really misbehaved in this case.

He was forced to then buy it, of course.

He literally fits the SEC definition of insider trading and market manipulation.

Yeah.

If I had said, if I was on the, if I was on the board of a public company and said, made an announcement, tweeted that we had just,

that I was buying the company for $420 a share at a 60% premium and the funding was secured.

And that wasn't true.

I would never be on a public board again, much less be an officer and most likely I'd end up in jail.

We have sent people to jail for much less than this and this is the problem with this level of massive income inequality.

And that is generally speaking, the one way AI might help is AI might actually be a means of enforcing the law unilaterally, which it is not now.

Because the reality is the top 1% are protected by the law but they're not bound by it and the bottom 99 are bound by the law but not protected by it.

And Elon Musk represents that in spades.

And so what? Because most of the penalties from the law are civil penalties.

And there is no penalty big enough to get meta to stop putting out content that convinces teenage girls to stop cutting themselves.

And there's no penalty large enough, no fine large enough for Musk to stop lying and committing the types of SEC violations that the rest of us have to play by.

So what's going to happen here to him because he'll say he was concerned about but he he had an ironclad deal with no due diligence that he agreed to.

At some point the laws, the penalties have to be a percentage of your wealth or the market cap of the company because he might be fined as much as a billion dollars.

If you have the average household wealth of a family in America, 120,000 dollars, that's the equivalent of a $550 fine.

Yeah. And he's going to be a trillion hour with the space.

Who cares? He doesn't care. And he just does money and lawyers out it.

So do you think he'll win this case because he's he's won them all.

I don't know enough about it. What do you think?

I think he might win it again. I think he always manages to squeeze out of things and he says, oh, we just didn't mean to say it.

And he had real concerns. And you know, we talked about this at the time. We're like, he's going to have to buy it.

We don't care what he says.

Well, the court, the Delaware court was not impressed with them.

He did not want. He tried to do everything. He realized in a manic state, ketamine, he would that Twitter was worth $44 billion.

And then when he sobered up, he's like, oh, and he did everything to try and get out of it.

And the Delaware chancellor said, I'm just not that impressed by you.

These agreements into the board, the board of Twitter is like, we don't care if this guy's really fucking high.

If he wants to pay us this much money, just send an agreement that they are tied and they did that.

And they wouldn't let him out of it because they knew that he they was buying a $18 billion company for $44 billion.

Yeah, but he of course sailed out of that because the banks didn't foreclose on him. They did because they wanted the next deal.

And to be fair, the company is performed better than they thought.

And he moved it and you don't know how it's performed.

Well, Twitter, most of the metrics are lower.

The my understanding is advertisers have returned. That's not your understanding.

My understanding is the business sucks as it always did.

And the numbers are down and threads owned by...

Huge inroads. It's now bigger.

Bigger than Twitter.

But still, I mean, people do, still there's a lot of politicians on it and press that continue to stay on it.

Scott and I left a long time ago, despite enormous audiences there.

I mean this sincerely, and I talk about this a lot.

I struggle with anger and oppression and I try and go through a series of things that will be an unlock.

And I try to keep track of what causes when I go dark.

And one of the things I realize about fourth is at 20 to 25, very analytical.

20 to 25 percent of the time when I went dark.

It was fucking something that happened on Twitter.

Yeah, you used to go to school.

So I stopped using Twitter about three and a half, three years at Last World Cup.

My suggestion is one of the most accretive things you can do for your mental health is not be on Twitter.

Yeah, I would agree.

I would agree. I have not missed it one bit.

And I had, I continually have tech bros saying, you're really missing out and what's there.

And I'm like, oh, someone not calling me a cunt 50 times a day.

I'm good. I'm real good with that.

What?

Why does that make me happy?

I don't know why that.

That's the word we need to be established is a good word to use.

They use it in Britain.

You live there, right?

Don't they call you that all the time?

Yeah, that's one of those words that I should never, ever say for any circumstance.

Don't even do see you next Tuesday.

You're not allowed to do that.

No, no, no.

You are not word.

I can.

And I use it quite a bit.

Anyway, all right.

Next story, more than 1500 transgender people in Kansas woke up this week to find their driver's licenses are now legally invalid.

All thanks to a new state law forcing them to get new ideas that reflect the gender they were assigned at birth.

The law also has what critics are calling a bounty provision where anyone who encounters a trans person in a public bathroom feels.

Agreeved can actually sue for damages.

Courts are already pushing back with legal filing calling the law something designed to quote discrimination against and dehumanize transgender people, you think.

These anti trans laws are popping up across the country again.

We'll pushing back on this via winning or losing strategy for Democrats.

Obviously, the sports stuff did stick.

But as we get closer to midterms, this particular thing seems the most dehumanizing thing and sickening thing is trying to.

We need your license to vote.

People are immediately without a license, a real idea to fly and everything else.

And it's really, I think it's one of the cruelest things that I heard to do to transgender people as yet among the many cruel things people do.

Any thoughts about how to deal with a story like this?

Be careful, Scott.

So, something David from said kind of summarized how I feel about the Democratic Party right now.

And that is, if progressives want to enforce the border, fascists will.

And we stick out our chin and we lose our fucking minds when we try to pass legislation that demands corporations have third bathrooms.

Or when we let a trans woman, and I realize this is a wrong crowd for this, but I want to speak as I would anywhere else.

Or we decide that a trans woman can compete in a woman's NCAA meet in all progressives look around cautiously and then applaud and call it inspiring.

So you're telling me all metals, endorsement contracts, professional contracts, all money, college scholarships are ultimately going to go just to people born with penises.

We lost our fucking minds and then they move in and see an opportunity to demonize the community and just quite frankly cover it and respond with hate.

So I think with the Democratic, and I'm torn on this, I think with the Democratic community, community needs to be thoughtful.

It's like, look, we have, we have civil rights.

This is a community that deserves the same dignity as every other community.

But no, we're not going to make it our front and center issue.

This should be settled law and move on.

But it's not settled law. They took away their licenses.

This is, this is where it goes.

But the law, in my opinion, my read of the law is there's no legal justification for taking away their licenses.

But don't make it the platform for the whoever's running for president.

I think a lot about, you know, I think a lot about masculinity.

I hadn't noticed that.

And loosely speaking, I think of it as acquiring skills and strength in the service and protection of others.

You don't, you might disagree with the trans community.

You might not believe in a gender afterment, whatever your beliefs are.

But if you think of yourself as a man, right?

And you see this kind of demonization.

It doesn't matter your political views. You move to protection.

This is just straight victimization.

So where I land, where I land is this should be settled law.

You don't take their driver's license away. That's just stupid.

But don't make it, don't make it the lead in opening debate for the presidential election.

Because this is a community that, this is, I get it, this is a really tough one.

But we really screwed up on this one.

And there are a lot of Americans that have a different viewpoint on this.

But in my view, this is something when we say, all right, let's be reasonable.

We're going to afford this community the same rights and dignity as every other community.

But it's not going to be a part of our platform that we would be able to raise.

I do think they're trying to, definitely trying to get us to take our chin out.

That same time this, I think it actually is very helpful when they do this bounty provision thing.

It just seems fucking me.

Like I think just like everywhere else.

It's persecution for no reason.

I think it had resonance here in Minnesota. I didn't live here, but that definitely.

North Dakota passed a law for no free play law, whatever it's called, so no trans athletes in high school.

And then when they were asked to find a trans athlete in any high school, they couldn't find no law.

Yes, that's correct. There's six of them.

Anyway, it'll be an interesting thing going forward, but it's, it's astonishingly cruel.

And I think it will, it will hit back at them, especially these bounties.

I think there's a real trend that I think you and I talked about was,

a lot of people have immigration issues, a lot of people have this.

A lot of people who are sort of pro-Trump or voted for Trump to me has said, but not this way.

And I think there's a great deal of political strength to be saying,

okay, you can have that view, but you really want to do this to people.

Do you really want to do that?

And I think Minnesota was sort of the absolute place for people who are like, are you fucking kidding me?

Like that kind of thing.

And I think it does have resonance, especially when the citizens fight back in a way that has a lot of dignity and grace.

And suffering also at the same time.

So last one, this one is for you and it's our friends at the Minnesota Star Tribune, which we love.

Minneapolis now leads the Midwest in only fan subscriptions, according to new data from only Guider.

I think you know there was like a data for only fans.

But out of 167 cities, Minneapolis ranks fifth in the country per capita.

And sixth in the world, Minneapolis residents spent more than $14 million on only fans in 2025.

First of all, what the fuck is going on with all of you?

And Scott, will you be staying a little longer in Minneapolis?

Yes.

So I'm fascinated with only fans, not for the reasons you think.

It's exactly for the reasons you think.

It reflects a lot of things about our society and economics.

So 84% of the creators are women, 80% of the revenue, I'm sorry, 80% of the creators are women, 84% of the revenue comes from men.

It's the highest per employee revenue company in the world right now.

It's a bigger business in the New York Times at 7 billion.

And the number of registered users is greater than the population in the United States.

It's effectively a transfer of, it's basically we've monetized health care in the United States.

We've monetized rage with social media, and now we're monetizing male loneliness.

And I think it's a symptom of something much more insidious and frightening.

And that is young people aren't having enough sex.

And a lot of it is because young men are not leveling up and taking as much.

They're taking way too much risk online, and they're not taking enough risk offline.

And I offend people when I say this, but I hold to it.

Here it goes.

I think we need to celebrate young men's horniness.

But we need to celebrate it offline.

And what I would say is that the killers of masculinity are the indoors, a lack of exercise,

blaming immigrants, blaming women, and porn, I think are killers of masculinity.

And I'm very good at doing, I'm going to bring this story back to myself.

When I was about 24 years ago, I was at the Raleigh Hotel at the pool.

On Sundays, I have a DJ day.

And there was just a scorching hot woman.

And I said to myself, before I leave, I promised myself I was going to speak to her.

I'm like, I'm going to speak to her. I'm going to make the approach.

I promise I'm going to do it.

And without the benefit of alcohol, I chickened out, because I'm just not that interesting without alcohol.

And so I went to get my car, and I had the valley ticket.

And I ran back in, and I went up to it, and I showed it to the valley ticket.

And I said, I promised myself I was going to say hi to you, and I almost left.

Anyways, 18 months later, we gave birth to a son whose middle name was Raleigh.

And let me be less aspirational here.

I wasn't looking at or thinking I want lower rates on auto insurance.

I think embracing your horniness and wanting to have sex is a wonderful thing.

It encourages you to level up. It encourages you to shower. It encourages you to have a plan.

It encourages you to develop a kindness practice. It encourages you to work out.

It encourages you to get girl friends who can teach you how to behave around women.

And when they see you're a decent dude, maybe introduce you to some of their friends.

Men need to level up. And the motivation for leveling up, quite frankly, is being so horny you're willing to take risks.

And when you're quite frankly jerking off twice a day to porn,

which unfortunately through AI is getting more and more life-like and more and more seductive,

it's going to reduce your ability to do one of the most wonderful things in the world,

and that is make your own bad porn.

And let me just finish with that.

I'm waiting for this to end.

Let me just finish with this.

I hate the in-cell movement.

Involuntarily celibate, like you face so many obstacles that you've just given up

and you are like a badge of honor. Well guess what?

99% of men through 99% of history have been involuntarily celibate.

I was involuntarily celibate for the first 19 years of my life.

And this is what men do. They level up, such that they can be voluntarily in celibate.

So the fact that, okay, welcome to the fucking work week dudes.

Level up. Women are leveling up. That means you've got to raise.

You've got to, you've got to level up. Right?

Develop the attributes. I coach young men.

I call the rule of threes. If you work out at least three times a week and have data on this,

you spend at least 30 hours a week working outside of the house.

And at three times a month, you put yourself in the company of strangers in the agency

of something bigger than you, church group, writing class, nonprofit, whatever it is.

And you're willing to talk to people and endure rejection, express friendship,

express romantic interest. Every father has an obligation to teach his son

how to express romantic interest while making that woman or that man feel safe.

That is an obligation you have to, 45% of men, 18 to 22, have never asked a woman out in person.

And there are not enough men leveling up and realizing at some point,

if you do those three things, you win the top 5% of men.

And what I tell these young men is that if you win the top 5% of young men for long enough,

you will be, I trust me, voluntarily in celibate.

And the most wonderful thing in life, the most wonderful thing in life,

is building a life with a partner.

And guess where it starts?

When dudes are really fucking horny and brace their hornyness.

All right, the theory of horny from Scott Galloway.

It's why we put a man on the moon and have vaccines.

There was guys who wanted to get laid.

In any case, you know, Minneapolis, we're going to let you off the hook,

because it's super cold here.

But now that the weather is lovely like today, you better get out there and fuck.

Apparently, according, that's according to Scott Galloway.

I, of course, have never had a problem attracting people.

But it's not going to happen for you tonight.

I'm going back to his house tonight, but I'm never happening.

You always bring this up when it's loud.

You always bring this up.

I mean, it's like you're the reason I became a lesbian.

Anyway, we'll take one more quick break,

and we'll be back with Scott's update on the impact of resist and unsubscribe.

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Scott, we're back recording live from Minneapolis.

And the reason we're here is that back in February,

you started telling people how to resist an unsubscribe on our show.

Now, tell us how well it worked.

Scott, let me tell you, you're in for a treat.

Scott, doing a presentation, he used to be a very good professor

and he's going to show you why in a second.

That's how I met him.

Okay, so the agenda, why we did this, the weapon that's hiding in plain side,

what we build, what's next.

Okay, so what we don't recognize is we have a weapon hiding in a plain side,

and that is the most radical act in capitalism as non-participation.

If you go all the way back to COVID,

which is the most, quite frankly, crispest, biggest government action in history,

it wasn't because tens of thousands of people were dying,

it was because GDP crashed 31%.

The only time the Trump administration responds is when the markets crashed.

I started thinking, how can we send a signal to CEOs and to the president

about our objection to what's taking place here?

We want to rewire the incentives.

Right now, the incentive for all CEOs in tech is to dis comply.

It's just to be a sequest to the president.

We need to figure out a way, such as when CEOs, instead of complying,

instead of providing data for surveillance, whatever it might be,

they think there's a doubt potential downside to this.

And then also just personally, I have found that action absorbs anxiety.

This is the first time in my life I've had trouble disassociating from what's going on politically.

And also, I think there's way too much courage behind a mic and behind a keyboard,

and more of us sort of need to have our off mic and our off keyboard actions

foot to some of the virtue we claim to have when we get in front of a fucking keyboard.

So in a capitalist society, consumer spending, two thirds,

we are a consumer driven economy, and also the wealthiest among us are controlling more and more.

So if you want to hit the wealthiest, you go after stock prices.

And then effectively, again, what we saw was the greatest political response in history

was when GDP crashed, want to rewire the incentives of apologizing being redundant here.

So it's the weapon hiding in plain side, economic strikes.

It really is a powerful lever, and this is a brief history of economic strikes.

And the one I was point to is the Montgomery bus strike.

And there was a very cinematic moment where a courageous woman refused to give up her seat,

but it actually would move the needle. It was a 13 month economic strike

where approximately 300 cars a day organized by a young Reverend Martin Luther King

gave people carpools such that they didn't have to take the bus.

And essentially, the municipal system started losing a quarter of a million dollars a month,

and then after 13 months, they gave in and they desegregated the bus line.

So it needs to be sustained. And essentially, our president does not seem to be moved by outrage,

not as much by protest, not as much by its Supreme Court, not as much by even his own Republican party.

He seems to be moved, quite frankly, by markets.

And when he is withdrawn from discussions of annex and Greenland or of crazy terrified ideas,

it has been when one thing has happened. It's been when the market has crashed.

So how do we send a signal to him?

What I think is the soft tissue of the market right now is it's too concentrated,

and that is somewhere between a third and 40% of the stock market or the S&P

is just as handful of companies. So that's the soft tissue.

We go after these companies, and then we go after the soft tissue of the soft tissue.

And that is subscriptions. And again, these companies make up most of the market.

So when Netflix just announces that for the first time they've lost subscriptions versus gaining them,

they lose $58 billion in market cap. More recently,

T-Mobile was supposed to do add 506,000. This is from a news call a couple of weeks ago.

They only added 495,000. So just in 11,000 delta subscriptions, they lost $30 billion in market cap.

So the amount of power we have when we strike the artery of these companies,

the organs of our corpus and government, with a blow around subscriptions,

it really is the most impactful thing we can do relative to the amount of consumer disruption.

Okay, so what you're going to find when you go to resist and unsubscribe, like me,

is you might even save some money. I found out that I had four AT&T contracts

that for blackberries and iPads that would have been in landfills for 10 years.

So these companies are smart and they make it very hard to unsubscribe.

So basically the site is meant to navigate you to a link such that you can unsubscribe really easily.

And what we have found is that of the people who go there,

approximately 5% actually unsubscribe versus 4% in an e-commerce site.

And we have driven approximately 1.5 million,

we're coming up actually on 2 million unique site visits without...

Thank you.

But the most exciting thing is we haven't spent a single dollar

because neither Alphabet or Meta would take my money because it was quote-unquote political in nature.

Yeah, anyway.

So how did we drive traffic?

The thing that drove the most traffic was an article posted at npr.org.

I was not expecting it.

We've also built a calculator where if you go on and type in who you're unsubscribing from

and the size of your social media footprint,

it will give you a sense for the economic impact.

So I'll give you an example.

If you have...

If you and your family, or you have a decent sized social network,

and you unsubscribe from ChatGPT, $240,

based on the size of your social network, if it's decent,

you get another three people.

So four people unsubscribing, that's $960 in lost revenue.

Because this company is trading at 40 times revenues,

that is essentially about a $38,000 or $40,000 hit to their market cab,

just with you unsubscribing and then posting it on social media.

Again, this needs to be a sustained effort of small actions adding up over 13 months.

So Instagram, we had huge views and pick up

because we had some celebrities talk about it,

and then tried to...

The cloud cover, actually I did...

I'm doing a bunch of research on protests as media coverage.

We pelted you with this before.

I've been a total whore.

I'm going on everything right now.

But media coverage is important because if you look at when ABC acquiesce

and put Kimmel back on the air,

it was actually when unsubscribes were going way down,

but the media coverage had picked up because it hurts morale internally.

So what's next?

So what I'm trying to do is figure out a way to sustain this movement,

and I'm going to be hiring someone full-time and recognizing that we had some good momentum,

and we don't want to give it up after a month,

and try and add some innovation to it and continue to drive traffic to the site.

Also, where is our kind of red line?

What was your last straw moment?

And for me, quite frankly, it happened here.

When we had a member of the cabinet describe a nurse taking care of veterans as a domestic terrorist,

I want you to know, and I'm fairly confident of this, I don't have research.

I think there are tens of millions of Americans that just feel your fucking rage right now.

Okay.

So we have a lot of companies.

We're going to spend a few weeks focusing on one, specifically ChatGPT,

and an unsubscribe movement around ChatGPT.

Also, I think there's, essentially, we get poorer if we don't have systemic loss,

that affect all companies when we start punishing some companies and rewarding others,

with one of the reasons that America trades into the highest P multiple.

In other words, if you create a dollar at Target, the shareholders, the stakeholders,

get $27, whereas retailers in Japan get much less and in Germany.

And one of the reasons great research universities and credible risk aggressiveness,

Deep Disposal Capital.

But the reason we have the Deep Disposal Capital is because of those things,

but also rule of law, where they believe that if they invest in a company,

they know what the company is going to get to do, or it'd be enabled to,

or be restricted to, because the laws are supposed to be applied equally.

So when we have these one-off punitive efforts, the result in CEOs bending a knee to the president,

it not only is embarrassing, it not only denies us of our civil rights and our civil liberties,

it's going to make us poorer over the long term.

And we don't realize how good we've had it for so long.

Effectively, if you think of it, we have $5 million for every startup in this nation.

Europe has one million.

We have five times the amount of risk capital here, and I think it's in large part,

because until recently, we had a set of consistent systemic laws that applied to everybody in terms.

If, if Palantir or Andero want to make weapons, or provide the government with information to surveil citizens,

if it's legal, they're allowed to do it.

But at the same time, if a company doesn't want to work with the Department of Defense,

they're allowed to do that as well.

And the big myth over the last year is that the markets have performed well.

If you look at the crash in the dollar, we're 21 out of 23 right now.

We have underperformed every market, except our New Zealand and Denmark since President Trump

was inaugurated.

What I would say is one of my role models around this is Heather Cox Richardson.

I think it's really easy to be bereft.

I got about two minutes here on our wrap up.

I think it's really easy to be resigned or bereft to the notion that we're in uniquely dark times,

that this is the worst it's ever been.

That just isn't true.

This nation has survived plague, civil wars, world wars, unbelievable economic disasters.

We were in turning families because they were Japanese and what was effectively concentration camps.

Not that long ago, and many of those families had sons serving in the European theater.

But what happened to each of those instances is that Americans were equal to the moment

and our democracy came back stronger.

And effectively, that's the question now.

Are we equal to this moment?

And my fear is that people, such as myself, that effectively I would describe my economic history

as unprecedented typhoon like winds in my sales while paying the lowest taxes in history.

Never asked to serve in the military.

Never really asked to volunteer.

Incredibly low tax rates.

Pre-education, UCLA and Berkeley, unbelievable technology paid by middle-class investors at DARPA.

I got assisted lunch.

I got pell grants.

And I paid, I think, my average tax rate.

And I talk openly about this has been about 20% for the last 10 years.

So in some, and I think there's a lot of you like me in this room, we have a debt.

Our objectives are to send a signal to consumers that they have a weapon hiding in plain sight.

And to create a series of incentives among CEOs that there's a downside to enabling this to prey behavior.

The weapon hiding in plain sight is economic strikes.

Most radical act in a capitalist society is non-participation.

I talked a little bit about what we built and we're going to continue to innovate around it

and continue to try and drive traffic to it.

I'm going to hire full-time resources and probably focus in on a narrower set of companies to send a stronger signal.

And what I would ask each of us.

And I think we've been inspired by some of the sacrifice that many of you have demonstrated.

What I'm asking of a lot of people, especially my generation, is do you have a debt?

Are we equal to this moment?

Thank you.

All right.

Thank you, Scott.

So, again, one of the things you can go to, stop site, resist and unsubscribe.

Unsubscribe from one thing that you don't fucking need.

And you don't need it all. That's all.

And it does build.

There is a, one of the great things about Minneapolis was there's a stone soup quality to all this.

We all can contribute.

There's talking to your legislators.

It's talking to people at work, talking to your community, organizing community groups, things like that.

And the most important thing, the absolute most important tool in your, in your entire kit,

besides your wallet and everything else is to vote.

Voting is the most critical and important tool in this to do.

Scott always surprises me with things like this.

And I think it's really important.

And you can ask a million questions of why it won't work.

But as Scott says, what could go right?

And so that's how you should think about it.

People of Minnesota, thank you so much from the rest of us in the country.

Thank you, Minnesota.

When, when history is written, this will be one of the main stories of this era.

And I'm telling you, it's changed everybody's, it has.

You don't think it has.

The sacrifice has been worth it.

Even if it seems like an incredibly steep price to pay.

Across the country, people are, it has inspired people in a way that is, I think, going to change things rather significantly.

But it's not over.

Just remember, there's still, these sons of bitches keep coming.

Anyone who's, in any marginalized group like you, is they keep coming.

So you've got to keep vigilant against what they're doing.

And don't assume they're ever going to go away.

And so it's, well, that's true.

That too.

So keep going, Minnesota.

We have got your back.

We really appreciate this.

And we're so thrilled to have done this here.

And we will be back this year.

And you can catch tonight's show on YouTube and in your podcast feeds.

That's all the time we've got for today.

Thank you, Minneapolis.

Thank you, Minneapolis.

Minneapolis.

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