33 Burst results for "Peter Thiel"
Is Bitcoin a Chinese Financial Weapon?
"What's going on guys. It is thursday april eight and today we have a juicy one. We're talking about a question. Brought up by peter thiel yesterday. Is bitcoin a chinese financial weapon. So some days. I'll be honest. It's a bit of a struggle figuring out what to dedicate a show to. That's less so in the bull market certainly a little bit more in the bear markets. Other days there's some big news that makes it obvious the most interesting days however are when it's not big news item but a big community discussion that drives the days content so when i saw headlines last night coming out saying that peter thiel a stalwart supporter of bitcoin had said that bitcoin was a weapon of the chinese government and that because of that the us government should be asking more questions about how that works. Oh boy did. I know that this was going to be today's topic. I want to have this conversation in three parts. First i want to look at interpretations of what the actually said second. I want to look at the specific idea of bitcoin as a weapon for the chinese government. And i want to look more broadly at the geopolitical geostrategic battle around the world reserve currency. As i've said innumerable times this is a show about power shifts power so this should be a fun part one. What actually said now i will be honest the parsing and pinching trying to argue what a specific person meant when they said something is actually sort of the least interesting part of this discussion to me much more fascinated in the broader conversation at brings up however there are a lot of people on all sides of this discussion trying to lay claim to the statement itself. So let's look at that first and before we get into interpretations actually listened to what he said from china's point of view. They want to get on. They don't like the us having this reserve currency because it gives us a lot of leverage over iranian oil supply chains and all sorts of things like that they like They don't want the room to become a reserve currency. Because then you have to open your capital count and do all sorts of things that they really don't want to do on the euro you could think of as you know is in part chinese weapon against the dollar didn't last decade hasn't quite worked out that way but that was china we've liked to see to reserve currencies like like the euro and know even though i'm sort of pro crypto pro. Bitcoin maximalist person. I i do wonder whether at this point. Bitcoin is also should also be taught in part of as a chinese of financial weapon against the us. Where it's it is. It threatens fiat money but especially threatens the the us dollar and And china wants to do things to weaken it. So it's sort of china's long bitcoin and perhaps from political perspective The us should be a little bit off some tougher questions about exactly how that works.
"peter thiel" Discussed on Reset
"Tech billionaire. Peter thiel just made a big splash in politics. Thiel gave ten million dollars to a super pac backing potential. Us senate candidate jd. Vance who you probably know is the author of the best selling memoir hillbilly elegy bush. Twenty sixteen supposedly shed light on white working class. Voters in appalachia supported donald trump now teals big donation backing vance reveals. How the billionaire. Philanthropist is trying to reshape the republican party. Joining me as rico steady with more on the story. Hey teddy hey. I think a lot of people who listen to this show. No peter thiel is but remind all of us who he is and why were you pay attention to him so peter. Thiel isn't just another rich person. He's the founder of pay pow. He's on the board of facebook. So that's kind of the resume explanation but probably more than other. Silicon valley billionaires -til has sort of cultivated an influence network in conservative politics in media along the margins of silicon valley. I think is the best way to think about it. So -til has money but he also has influenced in a way that a lot of people look to him and he sort of become a leading figure in i guess parts of the backlash to tack. He's unusual among silicon valley billionaires for two reasons right both his politics and the fact that he has politics up until twenty sixteen most of the billionaires silicon valley sort of stayed away from politics but has always been sort of interested in conservative philosophy in thought and theology fair. He's been a leader of sort of the backlash to the dominant strain of silicon valley progressivism frankly for decades ever since he was a student at stanford so he has been sort of a leading figure in the conservative movement intact. And i think increasingly is. He's gotten wealthier and wealthier. He started converting at influence in the technology industry political influence and he's become a leading figure in his own right there. Yeah notably we saw him speak. At the two thousand sixteen republican national convention endorsing donald trump. I'm peter thiel. I built companies and i support people who are building new things from social networks to rocket ships. I'm not a politician but neither is donald trump. He's a builder. And it's time to rebuild america. So what is the super pac that he's backing. And what's the connection. A jd vance. So this is a super pac. That is being created anticipation of vance running for senate in an open race in ohio. Judy vans actually used to work for peter. Thiel at a venture capital firm. That i reported on a called myth roll capital. So -til is you know. Nose vance well and vance is anticipated to run in this. Ten million dollars is a way of encouraging him but also sorta clearing the field a little bit. You know it was interesting to me that you know. The group announced this. They didn't have to. You know they get it prematurely before an advance of any kind of campaign finance deadline but it sends a signal to other people in ohio that. Hey there's a rich guy. He's been spent a lot of money in one of america's most competitive elections next year. So watch out. And i remember after hillbilly algae came out we started hearing the jd. Vance might be a political candidate for something wire people interested in making jd and of political figure. That's a great question. I mean you can easily see a timeline in american politics for the last five years where no one cares about. Jd events right you know. He's just another guy with a compelling personal story and a great book and okay. But the reason why judy vans is seen as a possible senate candidate is as you pointed out at the outset is that he has become this translator of trumpism maybe incorrectly maybe correctly but people think of him that way you know. I think his book really took off with You know to to stereotype people you know someone on the upper east side who voted for hillary clinton in two thousand sixteen. I think's themselves. Who are these trump voters. And they see a you know a well written book yale law school grad. That is you know obviously very gripping personal story for sure And j van sorta became this introduction or an appetizer to trumpism for a lot of people So that's why he's here in ohio. I don't think it's It's mean to say that jd vinci's most prominent for the book. He's an author and frankly to be sure. I mean tons of politicians who've never run for anything before. But i think one of the questions. He's an encounter in his senate race and i'm not an expert on ohio politics that are going to be regular politicians right who run for this race. And what is judy. Mrs qualifications beyond that. He's a celebrated author with a rich guy backing him. That's i'm sure someone's gonna say yeah. It seems like the the hope right. Is this someone who can speak to trump voter right base that trump energize without trump excess without some of the noxious miss. I think that's the the the sort of thought by the way we should note that hillbilly elegy is now a movie yeah It is now an oscar nominated movie. Yeah i wonder i wonder. To what extent the it's gonna be the net flicks movie that introduces him to a lot of americans who are not reading his book but bright certainly fortuitous. Timing that this movie's coming out right before he's about to make a political play. So talk briefly about peter teal's other sort of network building. Where else is he spending his money he gave. He gave money to trump famously. In two thousand sixteen he did not give any as far as we know in twenty twenty. Is he spending his money. Now yeah i mean thiel gave a million dollars or just about to support trump in two thousand sixteen which You know this is ten times that amount so Teal has certainly become Very prominent for his backing of trump. Obviously the rnc speech was a big deal and it was so rare in silicon valley to support trump publicly that it became a big deal but it was only a million dollars And obviously this is a guy with many million dollars behind him But -til the sort of over the last five years cultivated this network of politicians and there's some commonalities among the people. He tends to find himself drawn to lots of them. Are populist hardliners. Outsiders but there's always sort of the patna of sort of an inside insider to some extent. Right i mean lots of these. People went to yale law school as just a just to give it some up very very succinctly. Is the josh hawley. bold of. yeah the josh hawley. Mold josh hawley. Obviously one of the people that has backed last year Peter thiel two million dollars. Toback chris kovach who was an immigration hardliner running for the senate in kansas kodak lost and now there's jd vance and a host of other politicians that -til is finding himself drawn to and you know he got lots of successful people in silicon valley sort of collects other successful people And i've heard people describe what deal is doing politics with with sort of that terms. Is there a peter thiel school of thought regarding technology and how he views silicon valley these days into the people that he's supporting share that The josh hallways of the world are have been spending a lotta time bashing google and facebook and twitter. Really for lots of reasons to this point. Is peter thiel. Someone is out there bashing clue bashing facebook. since he's on the board is he bashing other big companies. Yes probably no company. That peter thiel wants to a regulator or break up more than google Teal has you know kind of cast google monopoly over the years especially over the last two or three years and you see that you do see that reflected in kind of the political candidates. He's backed josh. Hawley is the most prominent among them. I mean before. He became infamous for his role in the january sixth events. I mean holly was seen as sort of the intellectual half of the conservative antitrust movement. Right hollies been going after google for awhile and he was also going after facebook. So it's not it's not necessarily concerned. Yeah yeah it's interesting you know till Sort of leaves critique at the doorstep facebook Which i guess makes sense but also should make you question the overall arching ideology. I think it's why we use the phrase strange bedfellows sometimes for sure for sure..
"peter thiel" Discussed on The Eric Metaxas Show
"And it's not that if you had lived in the time of christ you would have done better. Which was you know. The cause for medieval anti was go after the jews because they'd christ if we lived in a time of christ we would have done better or the modern liberals who say they would have been more tolerant in the in the middle ages whereas the people who who style themselves as being part of the resistance. That very fact often tells you that they would have just been collaborators. Because you know or something like that and The second second yet on the that. I always give is not not catholic. But i think the there's something about the catholic doctrine of the trans substantiation. That's always super humbling. Where it's it's literally the body and blood of christ and you're still no better than a cannibal and a cannibalistic meal. And you're still the problems of human nature the problems of violence or this continuous the past and the only hope we have of doing better are to realize that we're still this content contiguous with the entire human past. And when we think we've set that behind us we've transcended we're much better. Hyper christian were communist. Were you know. We're we're the the tolerant. People would have been super tall in the middle ages. That's when you're simply worse. I have to say you're you're pretty short guy pete. I don't know. I was thinking about when she said you weren't. I think everybody here would would disagree with say that. You're pretty sharp guy. And i think most of us would also say at the head of the pack that we're just so grateful to you for coming here. Being a part of our little group called socrates in the city. I know even do it. The money and those sorts of sumptuous. But how much money. Yeah and that's no no no. It's because how will we pay. That's why shouldn't believe everything on the internet. That was i think. Actually that was my final question. It was given given your tremendous wealth. How can you help me. Specifically we leave it at that i I really will let you go. But not before i say again. How genuinely great. Flam peter for much of what you do but specifically for for just coming here and being willing to You know submit to the humiliation of being introduced by me and then submit to the to the free form nature of the conversation. I'm just really really grateful to you. And we're gonna we're going to let you go but before that i'm going to give you a copy of my my new books here you go and i know i know hoffer was a little heavy for you and and i just thought this maybe maybe like these but we really do want to say thank you so folks as peter leaves. How about a rousing socrates sitting. Hey folks you have helped build my pillow into the amazing company. It is today now. Mike lindell the inventor and ceo of my pillow wants to give back to my listeners. You can get deep discounts on all my pillow products if you go to mypillow dot com right. Now and click on the new radio listener specials. You can get deep discounts on my pillows mattress toppers robes and so much more for example. They are bringing back the bogo offer for the giza dream sheets. That's right by one set of sheets. Get another set absolutely free. Remember all michael products come with a sixty day. Money back guarantee and a ten year warranty just go to mypillow dot com click on the new radio listener specials and get deep discounts on all my pillow products including the buy one get one free for the giza dream sheets. Enter promo code. Eric or call eight hundred nine seven eight three zero five seven for these great radio specials. Eight hundred nine seven eight. Three zero five seven used the code. Eric this stuff is great. Folks you know. I use these products in their fantastic. Use the code era..
"peter thiel" Discussed on The Eric Metaxas Show
"I think we should think universities as in a sense the successor to the catholic church. It is the easiest church and you mean a bad catholic. There's always wanna be clear. I'm not catholic. But my most even most catholics like this because they think the catholic church is pretty screwed up and so if the universities are as bad as the catholic church the catholic. Church isn't as bad as well people to talk about the catholic church of the pre reformation. There's no question that what was going on. There was bad. I mean. I think that many people like rasmusen francis who'd never would dream of leaving the church. They knew it was bad and it needed reformation. So we're the reformation how to come from without these institutions. They're not reform. That's that's the. That's the main point of the analogy. I would get you know. What do we do with with universities. What do you mean. We just tried to get people out of them. We try to. You know you're you're one of one of the things. I one of the things. I try to do years ago. Had this fantasy of starting a new university that we sort of better versions for the all around good liberal arts education with less political correctness less thought control and one of the people who worked for me a spent about a year looking at all the universities have been started in preceding one hundred years nineteen ninety seven to two thousand seven. We're we're looking at this and it was a sewri tale of donor. Intent portrayed wasted money just all stuff had not worked. And you got the sense that there's something about the setup that's really bad. There's a mathematical description. You can give this where corporations are mortal beings and overtime corporations get worse and worse and then if they're sort of very corrupt they sort of go out of business and universities tend to be immortal. They last forever and you know the top universities the most prestigious ones in the us are the ones that were here seventeenth. Early eighteenth century. And so we're dealing with the corruption of something. That's a quasi immoral bam. And i don't think it's there but i'm glad to hear that but but It's it's gotten it's dramatically dramatically worsening dramatically worse than they were thirty forty years ago. And it's still very hard to come to. Alternatives are still some sense which you know. Harvard is at the top of the pecking order. But but yeah. I think i think the i think we have to try to find ways to exit the system altogether well but ultimately no way to sort of co opted to change from within those are all think complete fools earns but i guess my question would be doing you have a situation where harvard and yale or the new york times to skip over to you. Know another kind of institution there institutions that have value because people say they have value right. It's that simple right. I having been to yale. I can say that it has really really minimal actual value. There's no question in my mind that the value that it has is. I think i think when you're saying things like this. That's not what we're supposed to say this would you why because people say they have value than if someone like. You says the things you're saying right now that's undercutting what other people are supposed to say right. Well that's the whole point of this. That's that's why we're here. I mean freak you out. But that's exactly what i want to talk about because you realize this is true right. There are people who are unwilling to say that or unwilling to let see that they become politically correct asylums. They're just there's pure madness in their kids. You're spending all this money so really so that your kid can can catch this virus and have have messed up worldview forever and once people realize that one stop people. Stop giving money once people start. Stop saying i want my kid to go to that place. Those places won't any longer be able to have the value they're seeing to have and so you. I'm slightly more pessimistic. I think they are very robust. They're not going to go away. That quickly the analogy. I would have or harvard. Is like a studio fifty four nightclub and you have probably bad for the morals of the people and maybe it's good for their status and we can debate which is more important which is less important. But it's a these institutions are remarkably robust..
"peter thiel" Discussed on The Eric Metaxas Show
"As fast as we're often told.
Could This Simple Hack Reduce Anxiety and Panic Attacks? with Dr. Kristen Allott
"Dr analogy welcome to the broken brain podcast. It's an honor and a privilege to have you here. Thank you so much drew. I am so excited for this conversation. I think it'll be just fine Back and forth to share information. Yeah i love what. You're bringing to the world in this topic of anxiety and i think that we zoom out in the context of the current world even prior to cove nineteen pandemic anxiety. You could see that. The instances and usage of the word in just general language newspaper social media is skyrocketing and you know languages so powerful and sometimes we really have to parse apart a word to really understand like what do we really mean when we're saying that because sometimes we say anxiety and we actually could be meaning something else when you talk about this world of anxiety and your new book which we're going to get into in a little bit. What do you really want people to help understand. What exactly is anxiety. Yeah so i think that's a great question. And i will just tell you how i approach that When i started in practice about fifteen years ago Because i'm a naturopathic physician acupuncturist decided to specialize in mental health. And people were coming in. And saying i'm anxious and and i just didn't think it was like so. How does that apply. Physiology was really the question that i was interested in and because some for some people it's stress for some people. It's i'm afraid to move forward and take a step forward for some people. It's a i'm overwhelmed like there's all sorts you know. It's a catch word as you say. And but there's also a curious about what the physiology of depression or anxiety or whatever these words were saying. And and so i. When i started in practice i literally in my on my living room floor. I had stock physiology textbooks a stack of neurology. Textbooks and the dsm and the dsm is the diagnostic statistical manual. It just describes. What the diagnosis categories for anxiety are and i was just like will. I think it's more than just an emotion like a candy but like the people were coming in with panic. Attacks like that is not an emotion that is a full embodied experience right. And and so i started just parsing out like what are the. What are the fizzy. What physiology causes these physical symptoms of shaky and racing thoughts and your heart racine. And maybe you're sweating and and all those symptoms that you know sometimes it starts small and Escalates to really big asu started to parse that out and then was like well. Once once i started to understand the physiology in the neuro physiology will. Where do we. Where can we intervene to help. People feel better and so answering your questions kind of copying out. But it's like. That's that's the approach that i took because so many people were using words and i was like i want a grounded in something concrete. Absolutely i mean if we look at the history and evolution of just anxiety and a lot of mental health. A lot of these things in early medicine were considered to be They're kind of in your head right like nothing else is going on right. We made a documentary a few years ago. Which then led to the name of this podcast. Broken brain my business partner. Dear friend dr mark hyman. We made a documentary called broken brain and the underlying premise. That documentary was what you do to your body you do to your brain. Your brain is not in. This isolated eight oregon that just as floating on top of your head. That's completely disconnected than the rest of everything. That's going on there actually an intertwined system and we have to understand that yes there can be. Let's call for lack of a better term emotional factors that are there right. Stressor is the complete driver of so many different things that we feel but let's also look at the physiology of what's happening underneath so when it comes to that topic of anxiety and the physiology gonna ask you a question which is a question that i came across a few years ago in a book by peter thiel little bit of a controversial character. But i really love this question that he had inside of this book. I think the book is called zero to one and he said what truth do you believe is true that other people disagree with in that category. So when you look at right what do you believe is true when you think about anxiety and physiology that people maybe traditional western medicine will say like. I don't know if that's true. Yeah so The one truth. That i see time and time again is it is really hard to have a panic attack. If you just ate. And i don't see panic. Attacks occur unless people are five hours from food or more at or they may have eaten some really sugary substance to at two hours ago. But if you had a real meal. It is really hard to have a panic attack. That's powerful right. There and people like that is not true and and the same applies to suicidal Which is know just part of the spectrum of people keep doing doing panic attacks they can get there and and and and the reason for that is that are i mean i can go into the physiology but but people don't believe that until they start looking mental health professionals or physicians and then when they want start looking at the pattern it holds true. Now there's always an exception to the rule ways but it holds like ninety five percent true
How Jessica Lessin got people to pay for The Information
"I wanna start off by talking about something you right you have. Yuba weekly column comes on saturday. It's one of my favorite reads I recommend it to everyone and either this week or the last week you had big tech and media making up your argument was that. They'd been at loggerheads for a while. And now things seem to be have patched patched up but since then rupert murdoch has come out with a screed yelling about social media His new york post ran a screed from josh hawley complaining. That he was being censored by by big tech and social media. andriessen horowitz. One of the premier maybe the most powerful of vc firm in the valley announced that they are going to start their own publication which is quite clearly an end run around publications like yours. And the one. I work for so. Do we still think that big tech and media. I made i mean. I don't think so what i was reading about in that piece was i think a sort of detente between basically the big tech platforms and big publications. Like the new york times like the wall street journal that have for years in. You've been leading the documentation of this wanted more money for their content from the tech platforms. And i think it's notable that in many cases the tech companies are paying out those sums. You know facebook has new news tabs that is significant enough to the new york times that they mentioned it in their earnings report says contributing to revenues so rupert murdoch's company held a big event with face work announcing announcing the payments. That mark zuckerberg was going to hand him. The wall street journal has a multi year error apple news. Deal that who knows if it makes sense for either side but What happened and is that the tech companies have realized. It's better to have sometimes these publications on your side than against you and and these aren't hugely meaningful sums to them so i think that part has changed and it's worth noting because three years ago we would have been here talking about how acrimonious it was. I think you're absolutely right though. There's so that's on the business side of the relationship right the editorial side do you think side. I think thankfully. I think publications are still coming out. Swinging against which i think is very important thing. It's one of the reasons. I started the information seven years ago. You didn't see a lot of that. You saw a lot of hype. He saw a look. How much founders worth. So you know. Reporters and their editors aren't going to back off and they shouldn't in that's very healthy for the business. It's leading to something you mentioned which. I'm really noodling on right now. Though which is more of these senior powerful leaders intact wanting to do an end. Run around the press whether it's chitchatting all day on clubhouse war injuries and horwitz cases launching. Is we broken the information a new media publication where they're hiring you know i. I suspect dozens of staff to the go to source for news. And so yeah. I think we in the media have to be very vigilant about what Leaders particularly intact. Who are very tech. Savvy are doing To get their own message out right now. Want to back up for one second. You said You said tech is coming in. The press is coming out swinging against big tech. And that's good. And i'm sure it will people listen to this. Podcast see con. We've confirmed another another bit of confirmation that the the media is biased against tech with. They're angry about tech they cover tech but they don't like it. I'm generally not very interested in this. I think it's kind of a fake feud but do you have any sympathy for for tech folks. Who do feel like they are. They have been unfairly targetted over x. Lasted for years. Five years. Absolutely not not in sympathy. No because i think the issues and challenges that these companies in their growing power present. Our major i do think the one area i am sympathetic to the grousing tech. Exac is the lack of coverage the sort of narrow scope of coverage right. I think there's a lot happening in the world of technology that is interesting that is important. That is hard to understand and not being written about. And so i would love more of that. I'm sitting down to interview sam altman. Who's running open. A and i'm preparing my questions for him. And it's a range of focusing in on the challenges of ai. But i'm actually inherently curious about all these things. I haven't thought about that. Maybe i could help as well. And so i think we need more of that but but in no way do we need to. To pull back. And i am frankly a little tired of it too and of of the grousing. But but it's it's accelerating in. It's getting louder and technology is giving a bigger mouthpiece to people who feel a real animosity towards the press and i think the environment during the trump administration has empowered that in and we have to be vigilant. So i don't like the peter thiel bankrupt being Gawker a especially Doing it Anonymously for some period of time And there's all sorts of problems with this sort of trump fake news argument but if Vc's or anybody else want to start their own publication to get their own message out and it'll be somewhere in between useful and pravda. What's the problem with. You know. I think if you think of it as like their content marketing arm shore remain. I have the d problem with it. I want hire all the best journalists in the world. I do not want them to go. Work for injuries. And horowitz so Practically speaking i think it's important that talented journalists get opportunities to do real journalism. And so i worry about that a tweet that said it's a call to arms to do this in reference to the andriessen horwitz publication which doesn't exist it. Come out. i think this summer is a called arms to do what we do. Better than ever to show readers. White journalism was must always be independent. And just to play devil's advocate. I don't wanna go work for injuries. And horowitz either you know so. What if they they had. They have twitter forever. They'd had they used to blog a lot Mark injuries and can go on any stage. He wants whenever he wants And talk at length. What's the problem with. Why is this a in any way something we should spend much. It's interesting but why should we spend much time carry about it as journalists welfare. They're hiring just to go back to. I think that is a big deal and they could potentially hire a lot of them. And i think the experience of journalists working in that publications could be very different. Could you write learn about some interesting technologies. Yes but i think we need journalists asking the tough questions and pushing back on power not being a mouthpiece for it and i have learned so much from reading blogs from smart investors about technology. I'm pro that but to say as they did that. They wanna be the go to source. I think misleads the public around. What should be the standard for information for understanding companies and it shouldn't be from the companies themselves
The Biden administration is inheriting working COVID-19 hospital data
"The biden administration is inheriting at least one thing around covid nineteen. That's working hospital data from american public media. This is marketplace tech. Molly would on the first full day of his administration. President biden signed an executive order designed to ensure a data driven response to covid nineteen and future public health threats. Now the administration already faces a big choice around cova data in july. The trump administration directed hospitals to stop sending data to the centers for disease control. And instead send it to the department of health and human services and hhs asked the data analysis company pollen tear to harmonize this whole massive information at first hot mess but by the fall the system was really working and now is tracking relations at least really really well. Alexis matter goal runs the kobe tracking project at the atlantic. He says the biden administration should try to ignore the messy politics in favor of the good data. You know part of it is. Cdc is seen as less political organization versus hhs in which you know it's seen as more a part of the administration did not have standing apart. You know one of the things. I really learned this reporting is that description is not totally accurate. In all cases you know the people who built this new hospital data system. They're all career civil servants. And so it really takes getting pretty deep inside these agencies to really understand the dynamics within these very complex organizations so what choices does the biden administration face around this data collection right. They could try to push the data collection for hospitalizations back into cdc into this sort of less flexible and older system or they could keep it inside. Hhs and to one of the things that i've been really worried about. Is that sort of to do this. Sort of abstract good of having the data collection be you know in the place where it belongs that you actually take away the system that working really well right now and that's incredibly transparent for the public. Do you have any sense from the one week by administration has existed of which way they might go. You know. I think the real thing is that the vaccine data is on right you saw. Cdc director will lemke saying you know she wasn't sure about the vaccine data right now and i just got to say i mean that was a system that was designed and built inside the cdc. I mean this is arguably the first major pandemic to exist in the big data age right like it. Sounds like you're saying there's just a skill set there that might not have been developed. Yeah it's not. As if the cdc doesn't collect of course cdc collects tons of data bud for different purposes. It's one thing to need rough and ready data to make decisions today. It's another thing to collect data for research projects over time in which you really want like precise answers but you have a lot of time to develop. Those data sets the questions. Do you ask the process that you build in the pandemic response. I would say by primary criticism of the cdc on a bunch of different levels is they've just moved too slowly. It hasn't seemed enough flake crisis. I mean the early example of that for me was in the very early days when the cdc had put up there cova tracking apparatus. They just didn't update it on the weekends. At a time when cases were like doubling like they stop updating on friday. They'd updated on monday. And there'd be twice as many cases as when they stopped you know. And i just thought to myself like guys. Everyone is working the weekend right now. Like we need to know what happening. The public needs to understand what's happening. You can't just take the weekend off. And i'm happy to say that the vaccine tracking the cdc is doing. They're updating it over the weekend you know. It's like right so so maybe this is a good. Maybe this is a good sign. You know that the administration cdc maybe as reinvigorated and has some renewed sense of purpose and are treating this like the crisis that it really is. Talk to me a little bit about palin tear and its role in this data collection because pailin tier is a name that inspires some dread either in the book or with respect to privacy and transparency. Like what do we know about. Its role in this data collection and how much transparency there is in in what they can. Use this data for to pailin here. It was co founded by peter thiel Who i think for a lot of democrats become sort of a republican supervillain and peter thiel and pailin tier have a lot of government contracts. People are rightfully worried about the extent of their reach into the federal government. But here's the thing people used the fact that. Hhs is data system which is called. Hhs protect was built by pollen tear as a reason to move data out of hhs. The problem is that. Hhs protect actually grew out of a cdc system also built by pailin tier also nih. They also use talent here so we have a system in which pailin tier is pretty thoroughly threaded throughout our public health surveillance infrastructure. Which in my mind. The way that i would set it up if i were doing this. Probably not on the other hand. It's not really an issue of hhs versus cdc. They both used talent here. Right pal to your says that they don't use that data that's that's flowing into system. They built for anything else that they basically just built the database in their hands are off it for what it's worth. Do you think we have that in writing somewhere in federal contract that may over tax.
Leadership Amid Chaos
"In the wake of wednesday's violent breach of the us capital business leaders have spoken out. Condemning the rioters effort to disrupt american democracy. Some of those leaders like famed activist investor. Nelson confessed that his support for president. Donald trump is a mistake. What happened yesterday is a disgrace than i as an american. I'm embarrassed you know. I didn't vote for trump in sixteen. I voted for him in this past election november. Today i'm on sorry. I did that. The national association of manufacturers a trade group that has been supportive of the president's economic agenda went out in front wednesday calling vice president pence invoke the twenty fifth amendment and begin proceedings to remove donald trump from office and keep him from ever running again over the last four years and this last year of two thousand twenty in particular business leaders have weighed in on politics again and again corporations and our public spheres are intertwined like never before. We've seen the very richest of americans billionaires express preference for candidates. Investors like stephen ross. Peter thiel and new york real estate developer. Richard lefrak have all unapologetically supported. President trump over the years pailin tear. Ceo alex carb famously aligned himself with the trump administration in the company's preliminary ipo filing august of twenty twenty. He called out fellow silicon valley giants for being unpatriotic. His company has contracts with the pentagon an ice but this week speaking to the washington post carp struck a different political tone. There's certain monica of adult leadership necessary to run a significant organization of any kind whether it's a university newspaper a church synagogue or mosque this this is below that line and we shouldn't tolerate in some ways. Donald trump may have helped bring these people deeper into the political sphere. These business leaders one's who've praised him and ones like apple's tim cook who quietly worked with him have proved crucial to the president's efforts and successes in office from woohoo market tweets to corporate tax cuts to president trump's unorthodox involvement in corporate dealmaking. We're looking at you tiktok so all this means what ceos have to say matters
Unpacking Palantirs Public Debut: CEO Alex Karp
"This is squawk pod I'm CNBC producer Katie Kramer today on our podcast. unpacking Pailin, tear the high profile highly secretive software company has operated quietly for seventeen years and it's finally on the public markets. And -ticipant I I think for maybe the past ten years CEO Elon on why it it took. So long my lawyers will shoot me what I can tell you is we are very very focused on building software a longtime before other people building and how he expects to become profitable with a small, but mighty and mighty controversial of customers. Well, how can you have the Super Valuable Company? They're only a hundred and twenty-five customers to which I respond. Yeah. But one, hundred, twenty, five most. Interesting institutions in the world I would ask people who are watching this to make a list of the institutions they admire in the world, and then roughly figure out if they're using pounder that interview plus the politics behind listing journalist Joanne Lipman fits a company that is very, very closely aligned with the trump administration. There's a huge question here about what happens if trump does not win the presidency it's Thursday October first October twenty twenty the year is still twenty twenty squawk pot begins right now. Good morning and welcome the squawk box right here on CNBC. I'm Andrew Ross Sorkin along with Joe Kernan Becky off today. Today on the PODCAST volunteer goes public analytics company that is usually described as secretive debuted yesterday the direct listening selling new shares on the New York Stock Exchange covered live on CNBC how tears for trading why secretive well here is named after magical orb and Lord of the Rings. But in seventeen year history, it hadn't made much public volunteer received early funding from the venture arm of the CIA and provide software products designed to crunch numbers. One of these programs is called Gotham and it's for government clients. Who Need to organize an understand massive amounts of data. So surveillance predictive policing, possibly rooting out potential terrorism threats, Pailin tear works with US Army Navy Department of Homeland Security and it's working with health and human services to help track the spread of Corona virus case data that we just recorded. We can immediately narrow into emerging hotspot counties, notable backers of talent tear include investor, and Co founder Peter Thiel who has gotten attention for his conservative politics and support of president trump in the two thousand, sixteen campaign. Evening. I'm Peter Thiel I'm not a politician, but neither is donald trump as well as his work technology companies. He was facebook's first big investor other pollen tear backers include wall streeters like Hanlon and Stanley Druckenmiller when talent tear filed paperwork with the SEC to pursue publising listing earlier this year it's called the swan event is finally got a sense of the books turns out pollen tear had never turned a profit and. A, huge chunk of its revenue came from its three biggest clients which are anonymous in the first six months of twenty twenty. It's revenue of nearly half a billion dollars a big jump from the year before this was addressed by pollen tear CEO, Alex Carp investor roadshow, which true to carbs personality, and true to the weirdness of twenty twenty was virtual and started on cross country skis. Welcome to Powell, tears investor day. We're very proud to have you here. Carp is an Orthodox for a CEO. He has amazing curly hair. He uses the modifier super allot super cool and speaking to potential investors. He made the pitch for the importance of Pailin tears purpose. This way of looking at the world war literally savior situation and in many cases Save Your Life Allen to has moved beyond. Just government clients fifty-three percent of its customers are in the private sector big name businesses who use a software program called foundry include Airbus Merck Ferrari and United Airlines but it's work for governments here and others around the world stuck to its reputation allentown faced criticism from privacy groups and for its work with the US Customs and border. Patrol. Tracking immigrants at the border. But Carp in the company not backed off in. That s one filing the leader of this highly valuable tech uniform said, Pailin tears work is different in his view software missions to keep safe may have become controversial but companies built on advertising dollars are commonplace and carp took aim at big tech culture directly writing quote our company was founded in Silicon Valley. But we seem to share fewer and fewer of the technology sectors, values and commitments. Helen tear moved its corporate headquarters to Denver and its shares headed to Wall Street. If you think, we are going to change our internal culture drastically if you think we're going to work with regimes that are not allied with the US enter abusing human rights if you think. that. That the future is going to be a super rosie place where the past ways of supplying software are going to work because enterprises and governments do not need to be reformed you should not invest in pounder. Andrew. Ross Sorkin has interviewed Alex Carpet number of times. This conversation was reported Wednesday yesterday right after the first trade for here on the New York. Stock Exchange. We've had lots of conversations over the years. This has been probably one of the most highly anticipated offerings or listings in a very long time. Almost every year that we would talk in Davos I would invariably ask you are you going to go public? Are you gonNA list and invariably you wouldn't. So let's start with why now? Well, first of all, thank you for having me and I and I really would like to thank all the pound tyrians who stuck with us and built this company and our investors you're stuck with us and you know over the years we've been skeptical about listing and for lots of reasons, we really needed to build our products. With enough protection so that we would be ready to launch them into the public space. And we built we built out PG government and foundry product and and built a way to maintain them so that we wouldn't have to scale the number of people and. You know we've reached a base where where our company's very significant and we believe being in the public space will help us with our clients and help us grow and quite frankly I believe the people apparently who built this company over seventeen years. Deserved a access to liquidity. So we we decided this would be great time for us and so far. It's been a really interesting process and and our clients are embracing it. So it's a really good time for us and I'm very, very grateful. Outlets. The single biggest question that investors ask about this company is seventeen years in while you know may have an operating profit, the company unto itself is still not profitable. So so walk us through what the path to profitability looks like. Well, you know we build these products years before people build them, and that takes money and what you see in the cove it pandemic crisis is we had built this way of going to market with foundry, which would allow us to literally supply an enterprise with a completely new stack of products within six hours and maintain them. And what you saw when we did that is we grew the company forty, nine, percent, forty, nine percent off of a seven, forty, three base and the divergence between expenses and in growth is dramatic. And we're just going to be very very focused on on an invigorating, our software offering. But when you're growing forty-nine percent off of a seven forty base. I think that's a pretty strong indication of what the future could hold and we're super proud of that and I think you're seeing that people are taking a look at our financials and our our company is often been used viewed as complex and. Needing explanation both moral and financial but it turns out our financials are quite simple and you look at this dramatic growth with flat lining expenses and I think that gives investors comfort and it certainly makes me feel as. Co Founder and CEO that we made the right decision to invest heavily over well over a decade in building software, the way other people don't to build it and you see the results do you think the profitability is at twenty twenty, two, proposition twenty, twenty, three proposition can I put you on that? Well, you you can push me but of course, my lawyers will shoot me I can tell you what I can tell you is we are very very focused on building software a time before other people building, supplying it and I think that are year I. First Half of the year growth will be reflective of the future and if I'm right. That will answer all of your interesting questions and we'll be interviewing. You'll be interviewing me again maybe not a Davos but virtually, and we'll see how we do. Confident confident we'll do well. Alex, one of the other questions people ask is how to comp your company meaning what are the comparable should this be considered a technology company as SAS company or should this could be considered a much more traditional consulting company? Can you speak to that? Well I think what the investors are seeing is they're asking the question at this point they used to ask is this is this a company that built software for the government and how do they build it? Of course we always sold this as a license. Then they saw our margins of the first half of the year round eighty percent. So I think the real debate now is. Move significantly away from is this software services because although people think we're very smart, we're not smart enough to get eighty percent margins off of a services company. The question then is, how do you comp it and honestly I think that's something investors will have to figure out. We're not focused on that we're focused on we are going to be the most important software company in the world. And people will figure out what valued over a long period of time and we're very comfortable with investors toying around it could be like this. It could be like that. We are going to deliver the best software. With the morals most efficient way of delivering it investors will decide what's that. What's that were is worth to them and I think you'll find a number of years that will be a consensus. Palette. Here is a truly special software company that is arguably the most important software company in the world. Alex has everybody knows You have contracts with various government agencies, obviously and some of the bluest of the blue chip companies in America today, but it's a concentrated list of about one hundred and twenty-five companies. About Twenty eight percent of the revenue actually comes from three of those clients unto themselves. Two thirds of the revenue comes from the top twenty. How much of a risk does that pose on one side but also when you think about the opportunity on the other, if we're having a conversation like this in in twelve or twenty, four months, how much do you want that list to increase in size or do you just want to keep that group effectively and a effectively raise the margin or cost for those clients? And grow that business. Well, we want to do all the we're going to do all of the above. So interesting about our client list people people ask, well, how can you have the super? Valuable Company they're only one hundred and twenty-five customers to which I respond but one hundred and twenty-five most interesting institutions in the world. These aren't just any institutions. The literally, I would ask people who are watching this to make. A list of the institutions they admire in the world and then roughly figure out if they're using, we don't go out and advertise our product, but I would say the list of our clients is the single most impressive institutions in the world I've ever seen we. So we want to keep these clients. Also investors will of noticing in the one that well over ninety percent of our growth in the first half of the. Year came from our existing clients. What does that mean our existing clients? The most important clients in the world are really happy that's what it means. So of course, we're going to expand those really happy clients who happen to be the coolest people on the planet, and then we've built this product which has gotten very little attention called Apollo Apollo allows us to maintain and deliver software to any number of clients with essentially. Not growing our our force apparent and force at all. So we're planning now that we have Apollo to grow the number of super cool customers all over the world, and we can do it without raising our headcount, and so what you're going to see is we're going to continue building with our clients why they're the most interesting clients in the world and they clearly based on our numbers like us and some of us. We are going to expand our client base. Why? Because now with Apollo, we can deliver the whole stack in six hours. I don't think any other company I've ever seen in the world can do that, and we can do with efficiencies that I don't know any other companies going to do because we can do this with a small number of people sitting in our office that we have maintaining, updating and providing them with new products we built. So they don't have the Frankenstein monster that takes two years to build and has to be maintained with either human hours like in the government contracting case or by purchasing new product or compensating sales people or behind. It people you don't even talking to you can actually buy one stack. So we are going to increase revenue with current customers, get new customers and continue our march. Alex how easier heart is because I know you've talked about trying to keep things in in terms of the platform if you will how he's your heart it for four clients to leave in terms of the churn. Well, as I mentioned, ninety, five percent of our revenue comes from existing customers. So customers, obviously if a customer wants to leave they, can I think the main reason our customers stay besides the fact that the output is very significant as they look at this product, we supply foundry the average customers paying less than six million dollars and they compare it to buying twenty products paying ongoing licensing. Fees. You can't get out of or building something over years, and the last thing they compare it to is we're not delivering a roadmap. Most people are living roadmap of what are you going to get in a year we're delivering a product after six hours so customers can leave. But what you see in the numbers is they by and large don't, and it's not because of my charming personality. Alex well, let me ask you a different question. We've had lots of fascinating geopolitical and philosophical questions about the role of technology and Pailin tear itself as well as the approaches silicon valley has taken. I'm curious in terms of risks how you think about this Amnesty International as you know, criticized, the company recently for its role of working with ice. How much of that does that pose a risk to the larger business? Especially, the corporate business at a time when we have corporations at taking both political positions and also being oftentimes being socially at activist. To Your Business Well, look the fact that we take positions that are sometimes controversial can cost. US clients. But it also gets us. Clients because when we talked to a client and we say look we're going to work with you. We're not gonNA walk away just because the winds change and this is super important especially to our government clients if you're supplying special forces and army and the US, those clients have to know that they will not be left on the battlefield. Because a because Silicon Valley has decided they don't like the warfighter. So of course that costs revenue many of our decisions of cost US revenue we only work in certain countries we've walked away from work because if human rights issues we've said, we disagree with very prominent human rights organizations and we engage in dialogue but also by the way is a reason why I Think people who are watching this may consider investing or not investing. We are not going to stand up here and say we're for everybody we're not going to pretend, and by the way we're going to try avoid jargon. We will actually tell you what we think it's not going to be created by fifty media people it may have to be carried by a couple. Of Lawyers but one of the unique things about power tears, we actually say things and we actually stick to them and that's something not everyone likes but many of our customers do and by the way I think it is a reason why ninety five percent of our revenue comes from customers because when we tell them, we're going to deliver we are going to deliver. Alex. One of the other questions now you all republic company. But as you know, you have three tiers of stock classes of shares that is and to some degree there have been critics who said, this is effectively a private company masquerading as a public company. Can you speak to the decision to structure the shares the way that they are structured and how governance experts and folks should think about that I think it's important for government experts to look and make an deliver opinion but I would also ask them to consider the environment we live in pound tear has been in silicon valley up till recently for seventeen years and in silicon. Valley. Defending the. warfighter providing our troops with technology that allowed them to come home is very controversial. I do not believe a company like ours that makes really consequential decisions for government clients and non-government clients could be run without an F. share structure and I understand there's criticisms investors look and say, well, why should talent you're having F. structure? What is my? What is my what? What can I do if? I don't agree with them. The primary reason why we fought for an structure and we asked investors to buy into it was we need to be able to go to our especially our Intel and defense clients and say, we will not just blow with the wind. And does shares for a company like ours gives us a unique ability to have long-term commitments to the most important clients in the world, both commercial and government, and that's why I believe they're super important, and I also again would encourage people if that's not something you're comfortable with there are many shares to buy. We don't have to buy challenge your shares. You should buy shares knowing that these shares reflect our views. Alex we've often had these conversations in Davos where globalization has ruled the roost but as you know so well, the world seems to be shifting to a globalized world, a splinter net if you will. How do you think long term that will affect the business of here We made this decision, which is actually a secret only because no one believes it's true which is that we didn't solve the problem of fighting terrorism. We solve the problem of doing data protection and fighting terrorism, and the architecture we built both PG and for foundry will allow a super set to work with subsets, which means if the world's splinters and every country has its own jurisdictions, it's GonNa be very hard for normal software companies because they're not built to do that but it's going to be very good for Palette here and finally Alex. Decision five years from now today. How would you measure success? Here, what would be the metrics which measure it? We know they're there obviously financial metrics but I'll tell you Powell cheer has recruited and retained I believe the most interesting most talented most ethical people I've ever met and we work I've interacted with thousands of institutions and in five years when meet I think he'll say to me. Wow, that wasn't just you saying that because it was the right thing to say it's actually true. And the products that will build over that period we'll we'll. We'll be unique and they will tilt the course of history. In favor of things that are good and noble. And will not avoid the complexity that's necessary to do that outlets. Carpool. You lots of luck and we do look forward to having that conversation hopefully in five years. But hopefully sooner than that. Thanks so much Alex.
Palantir Plans to Go Public
"Details on one of the most anticipated public debuts of the last few years, data analytics company. Pailin. Tear. Technologies has released its prospectus to debut on the public markets in the filing pound here reveals that plans to list on the New York Stock Exchange under the ticker he l. t. are and will pursue a direct listing rather than a traditional IPO, the same unconventional route taken by slack and twenty nineteen and spotify two, thousand, eighteen the company said it lost about five hundred eighty million dollars last year despite a twenty, five percent increase in revenue from the prior year. Tear was founded in two thousand three by a group of Silicon, valley entrepreneurs, including CEO, Alex, Carp, and Peter Thiel became wealthy as a founder of pay PAL and an early investor in facebook, and just in case you didn't know I did not until today Pailin tear the company was named after a magical or in the Lord of the rings that lets you travel. Vast distances. Here's Andrew Ross Sorkin with more in the filing co Alex Carp said quote our company was founded in Silicon Valley and by the way now, it goes to take on a shot at Silicon Valley but we seem to share fewer and fewer of the technological technology sectors, values and commitments from the start. We've repeatedly turned down opportunities to sell, collect or mind data of technology companies including some of the largest in the world have built their entire businesses on doing just that. Carp recently announced plans to move its headquarters from Palo Alto to Denver in part because of. This value issues talked up how also clear on its stance on China. Says we not work with the Chinese Communist Party and had chosen not to host our platforms in. China. which may limit our growth prospects. Company proposed three classes of stock, a Class B and Class F which will be held voting trust established by its founders including Peter Thiel with just below fifty percent of the total voting power for that stock that's similar to voting structure of other tech giants, clean facebook, and Google. So if you're concerned about the power structure. That is that is something they do share in common with with the rest of the
Interview with Alex Karp, CEO and Co-founder of Palantir
"This is walk. Thought this next segment is the conversation. Andrew had with Alexander Co Founder and CEO of Pailin. Tear the Tech Company provides software and data services for well a a lot of groups as you'll hear but it's probably best known for its relationship with the US government also quite controversial Given the company's role full working with the government in defense on ice with our allies with corporations there's always been view. It's a very secretive company in two thousand nineteen gene alone. The company signed one and a half billion dollars in. US government contracts one of those contracts in eight hundred million dollar deal with the Army Peletier beat out fortune. Five hundred company Raytheon for that one marking the first time that a venture backed firms received that caliber of recognition from the Pentagon and possibly more than anything else though. It's the company's Partnership With Immigration and Customs Enforcement that's created a stir until valley as well as internally Turnley at Peletier Alex Carp founded the company alongside a few other entrepreneurs including famed venture capitalist. Peter Thiel he co-founded Pay Powell and founders fund and invested in facebook anyway. Alex is he is one of the most unique interesting people in the world of business. He rarely does interviews but luckily for us. He's speaks Andrew. I gotTa tell you it's every time I have an opportunity to speak with him and really we've been able to do it now and you'll hear Davos you're just sort of blown away by the things that he says so here. It is Andrew. Ross sorkin annual interview with outs carp mark. CEO of talent here in the Alpine ski town of Davos Switzerland. Arc's thank you for doing this. Thank you so this was a very big year for you. We have a number of contracts. This is true we did very well so what happened. Well the long version is about five years ago we looked at our product offering and decide to rebuild our core offering for the government start with a commercial product which can be used to commercial and government and revitalize tragic going to market and and we saw the results Last year but dramatically this year and so that ended up with two very very large contracts that are public number of contracts that are not public and commissioner impact. That we're very proud of just so we're clear that's released publicly. One point five billion dollars in new contracts with that's true to you speak about those contracts. Let's well two of them are public. One of them is essentially. Give the DOD glow operating system in software with a on a timeline that otherwise I wouldn't be realistic so transformed the way. Decisions are made inside what amounts through the largest data organization in the world in timeline. That is very very aggressive. Another there is a little more classified and And we're we're just pouncing forward. The Core Mission of our company always was to make the West especially America the strongest longest in the world. The strongest ever been And for the sake of global peace and prosperity and we feel like this year we really showed what that would mean visit today. Do you believe is being driven by the government work versus the corporate. Well in the last couple of years most of our revenue has been commercial. Most of our clients have been government the the government government work inside and outside America's so strong Because of how it compounds that it's gone from being sixty forty commercial government to probably probably fifty fifty the impact of government. Work is the thing we are obviously the most proud of and is the past year. This sort of larger geopolitical Nicole conversation around. What does that into the business? Well you know decoupling. And and and strict regulation is a bonanza for pounder when we looked at what what did what should be done with data fifteen years ago. Most people aren't thinking about it and instead of thinking of this simplistic problem with aggregation of data. We thought about data's how can you aggregate and disaggregated this aggregate disaggregation meaning. How can you have silos while at the same time being able to call up at a granular level of what you're allowed to see in that silo? And what does that mean at a political level as Countries and states both need to have a horizontal view but want to have a more vertical view. They need Assad for platform that can allow a two countries to work together without sharing all all the information or to jurisdictions to work or to companies that for example a global company will have data stores in America data stores in Europe. Where only a subset can be shared in our architecture is is quite frankly built to deal with that and was built fifteen years ago to deal with that and revitalize five years ago so this decouple these these this decoupling world combined with Regulation quite frankly also combined with deep skepticism towards consumer in the valley is very much helping us. WanNa get to the sketches of the valley and just a moment but I wanted to ask you specifically about the protests this year about your work for ice and that ice this contract and what it's meant for your business we as everyone who's followed our company knows we take what amounts to strong but often Controversial positions the position of our company from the beginning was we're GONNA make America and the West Song and safer by integrating world class software into what amounts to legacy I see do systems one of our contracts at ice and there's an we started this contract under Obama and obviously there's a lot of concern legitimate concern about what happens on employer how it happens and what is the enforcement. Look like certainly diminish part of our work Finding people in our country who are undocumented. But it's a legitimate intimate complex issue. My personal position is We acknowledged a complexity people protesting whom I respect also dogs complexity is an issue that that is controversial and complex enough that the small island in Silicon Valley. That would love to decide what you eat. How you eat and monetize all your data should also decide who lives and your country and on what your conditions? There are elections. There are rules. They should be enforced. A transfer of one presidency and other and the the view of Silicon Valley that we get to the decide should not be the way the site of course this led to protests. My House has been protested for many months almost every day. Our officers protested many Palestinians who do not just follow what I say but are critical people. protested against internally. Some people were so upset about it that they left. These are very hard decisions. I I respect the people that that reside they can't be involved in this but we have a position. Are you comfortable with the trump administration's approach on the border.
"peter thiel" Discussed on Uncommon Knowledge
"The events of eighty nine is that was inevitably going to happen in the East and China Rhythm. It's not going to happen because we'll learn. WE'RE GONNA learn from history. We're GONNA make sure it doesn't happen here and the exact same events were interpreted in in different ways and they were probably not going to happen because China was going to let them and we were oblivious to this because we were just so convinced of this determinant of of history you know the riff I always have on this is that two thousand seventeen two thousand eighteen is the year that she became president for life and that's the year that Fukuyama 's and of history definitively came to an end but you know they're all these reasons you could have said. There was a lot eh early at the things were off. Okay in your book zero to I'm quoting all kinds of th- of at least get high marks for doing my homework. Okay in your book zero to one quote. China is the paradigmatic example of globalization. It's twenty. Your plan is to become like the United States today close quote so China this is this is another think dated thought but I'll let you tell me China can only copy it is incapable of genuine innovation on its own and as long as the United States remains innovative than we have the hope of remaining step or two ahead of them. Yes yes the agree with that but I read it a little bit differently so I think I do think that the West is still far more innovative than than than than in China but if you're only one or two steps ahead that's not very much and so if things are copied very quickly than maybe you don't need to unabated all you can outsource. All the very hard are in d work to to the West. You have a lot of deadweight economic costs associated with that and then if you can just steal all the Ip it might even be more efficient way to to innovate near maybe six months behind but right behind that far and so I think that's I think that's roughly the way to think of a lot of the contemporary sort of technology she racist if there's innovation happening in. Ai and I think most of the breakthroughs or just about all the breakthroughs I believe have happened in the West but the they get transmitted China within six twelve months and so that's that's it for us so we yes. We're innovating but it only gives you so much. Now you have said actually this is something else I have in here but I'm not going to take the time to go back and find it so paraphrasing said one of the signal accomplishments of the trump administration is causing everybody to rethink to re evaluate China. How is so trump. We've got a number of what's getting all. The attention is the trade policy slapping on tariffs. The Wall Street Journal takes one whack at him after another's arguing that were harming ourselves Bob Zelic and the Journal. This morning was arguing. We're doing far more harm to ourselves and our own trading partners than we are to China then you've also got. I believe you know more about this. Listen I but I believe there are also stepped up intelligence efforts and stepped up enforcement efforts concerning technology transfers. Just a sort of open ended question. How is the trump administration doing in terms not just of waking everyone up to the danger of China the actual implementation of specific policy well. I think I think this is all still very much a work in progress right. I do think that there has been a sea see change on the on the perception with China and in a way the the way I think of. US politics gets badly tribal. It's too polarized most of the times we just have this trench warfare with the two parties fighting each other. No one makes much progress. It's when you really went on issues when you get the other side to agree with you and I I believe that on the China issue the trump administration has gotten the entire center left to left to to agree with him. I think maybe maybe Biden is still the one pro China candidate running and that seemed like a catastrophic Albatross for him in the Democratic Primary this year sure I think all the others are are probably as anti China whereas tough on China as as the president is maybe they'll be even tougher if they get end because to some extent the trump administration policies are still moderated by we're trying not to hurt American businesses and I suspect the Democrats will be concerned about about business got it but but I think I think there's been a there's been a sea change a sea change on that yes and of course the free trade eight theories are correct in theory. They're all sorts of but in in the real world the stuff is always super messy and if you're negotiating a free trade treaty Ridi. You want the person negotiating to be one. WHO's not a doc doctrinaire free trader because the talk to near free-trader will believe that the worst job to do negotiating thing the better job they're doing because if you even if even if you concede everything and you get nothing from the other side there still are these gains from trade eight and that's what Free Trade Doctrine always tells you that you don't need to work very hard on these trade treaties and the US is really the only country in the world that that believed that Western Europe Japan have ineffective far higher barriers to trade you. Have you have tariffs in the form of taxes you know percents you're across the board on goods in Western. Europe Japan and and you know it's yes if we got rid of all that. Maybe that would be a more efficient world but we've obviously got into very very unbalanced. The the other the other metaphor I always give on this. Is that the basic flow is you know five hundred billion dollars that we import from China one hundred billion a year that we export to China and ineffective four hundred billion dollars of cash flows uphill from being saved by poor Chinese Peasants and being invested in low-yielding US government bonds and so if you're looking at this from outer space that alone tells you that it's just it's just a completely crazy regime but what what if they want their peasants to finance our government debt why not right let free trade argument if we believe in globalization yes the way globalization supposed to work is the less developed countries are supposed to converge they converge they grow faster therefore you get a higher return on investing in them and therefore capital should be exported from the developed to the developing countries that is the direction which capital of flowed circa nineteen hundred right when the United Kingdom had a current current account surplus of four percent of GDP and the extra capital was invested in Argentinian bonds and Russian railroads and all these different things and you know the globalization ended badly sadly nineteen fourteen in the late nineteenth twentieth century but that at least makes outs the money flowed in the correct direction this time we're in a much crazier form where the money is flowing but the wrong way. That's not what Chinese peasants shouldn't be saving money and low-yielding government. US bonds or negatively building European and bond there should be investing in China where they should be getting a higher return and so should we wanna come back trump in a moment but first it sort of summary question about China population of one point three billion intense work ethic the ability to to deploy capital and infrastructure. Everybody says including you have told me this you go to China and the airports are dazzling and the trains run fast and they're clean and efficient and of course now they have a habit of rapid economic growth and in the long contest to come between the United States and China. What have we got democracy a free press innovation that keeps US six months ahead. Are you optimistic will. It's very hard to to score score I I would I would say the the Mike Pessimists hoping you cheer me up about this. My neutrally pessimistic description is is that you know if you if you scored. I think both sides think they're going to lose. I think the United States thinks that yeah it's sort of like this declining power but but China Lena does not think it's going to win. You know you have a demographic collapse right. you know anyone who makes. Money tries to get their capital out of the country. People are still will you know if at all possible trying to to get out of China and so so if you sort of if you were to try to you know psychologically score for the two sides and say who believes they're going to win. Actually they both think they're going to lose and and even if you think you're GONNA wind us. You're you'RE GONNA win. Although I think if you think you'd better go through life. You think you're going to lose you will see if you think of an attested. Don't always get away if you think you're getting nephew always getting off right and and and so so what's what's very confusing as I think I think both sides think they are. They're going to lose. I told a lie one more question about China. You said a moment ago that in the fifties and sixties a lot of technological progress was driven in effect by the Cold War by the NEAT. The military need to develop technology algae which reminds me of again. I can't quote this can only paraphrase but there's some place in fairly early George Kennan one of the diplomats an important writers in the Cold War fairly early George Kennan in which he wrote that he welcomed the long struggle to come between the United States and the Soviet Union because it would bring out the best in the United States. We had nothing to fear from this. As long as we lived up to our best traditions he he expected it to be bracing struggle struggle between China and the United States help us technologically would be good for our character. Well the Cold War we we won the Cold War but but there are a lot of louder in ways that could have gone so I am not quite sure rather not totally not totally convinced that but I think yeah I think I think that I think the future the future version of you know I do think that we we the the future. The China represents is not a future that is that is particularly desirable. I was I was struck by this. When I was in western Europe a a few months ago that I think I think the future is something that always has to be thought of relatively concrete terms and it has to be different from the present and only something that's different from the present and very concrete can have any sort of charismatic force and and looking at western Europe I would you say there. Are Basically three plausible futures on offer number. One is Islamic Sharia law and if you're a woman you got to wear a burqa number two is totalitarian. Ai Alah China now where the computers track you in everything you do all the time and that's kind of creepy so the die of sore on he's The Lord of the Rings Referees Watching it all times and then the third one is is hyper environmentalism where you drive in east scooter and you you recycle and even though I'm not not a radical environmentalist I think if those are the three choices you can understand why the green movements winning because those are the three visions of the future we have right and and the challenge the challenge on the conservative or Libertarian side is is to offer something. That's that's a picture of the future that's different from from these these two very. STOPE IAN and one somewhat stagnant Bagman okay a note from a friend of mine young friend of mine who took the oath that he took in your class so this isn't in your syllabus..
Lucky Stripe: Silicon Valley Fintech Startup Zooms to $35B in Value
"This episode of Business Wars daily is brought to you by sent pro online from pitney bowes shipping and mailing from your desk is never been simpler than with sent pro online from Pitney Leabeau's. Try It free for thirty days and get a free ten pounds scale when you visit. PBA DOT com slash B W daily the from wondering I'm David Brown and this is business wars daily happy Monday everyone. It may be the biggest his tech startup. You've never heard of unless you own your own business that is stripe and online payment service and outs last Thursday that it is now worth more than thirty five five billion dollars that's according to valuations by investors who just poured another two hundred fifty million into the company which helps small businesses accept payments over the Internet funding boosted stripes valuation by twelve billion dollars making it the third most valuable startup in the US according to Bloomberg that news outlet says only the we the company owner of we work and jewel the vape company are worth more and unlike those two companies stripe doesn't appear to be financially troubled as the week company is or struggling with controversy like jewel but if you're not familiar with this giant company well that's reasonable stripe handles back in payment systems for businesses ranging from tiny one person startups to mammoth businesses like airbnb lift facebook and shop affi- and its CEO and president the young brothers Patrick and John Collison in who founded the company have operated quietly without the flash of more well known Silicon Valley UNICORNS becomes roots sound like they were made for Silicon Valley origin origin story the Carlson's hail from drama near an Irish village with a population of one hundred and two while still in high school patrick and John moved to the US in founded business that managed transactions on Ebay then they sold it for five million dollars at ages nineteen and seventeen and each had brief stints at College John at Harvard and Patrick at Mit but the entrepreneurial bug had taken hold and two years later in two thousand ten. They founded stripe the point of their start up to take the pain out of what was then a clunky complicated task for businesses and shoppers alike. It took off quickly. Mostly by word of Mouth College soon went by the wayside. One of their first funders was Peter Thiel. One of pay pal founders fast forward to today and stripe not only helps businesses process payments. It's expanding into other areas areas of finance last week announced a new lending arm called Stripe capital and stripe corporate credit card strike plans to use its new funding mm to continue expanding geographically. It has its ion eight new countries at its heart though the brothers want to enable new businesses to get off the ground by streamlining payments. Amos no matter where their customers are despite its fairytale like origin story stripe isn't without competition far from it. Its closest. Rival is square now. That's the company that offers those little square devices that lets you take credit card payments from your mobile device twitter founder. Jack Dorsey Co founded square both businesses now process hundreds of millions of transactions both companies forgo the monthly processing fees that banks charge businesses in charge flat rate fees instead and squares been making business loans for five years and boasts that it has lent more than five billion dollars so far still as of last Thursday stripe is now worth ten billion dollars more than square according to the New York Times back when Patrick can John Collison were still teenagers messing around trying to find their next business idea they found that the hardest thing about starting a new company was figuring out how to get paid paid. They seized on that problem as the right one to solve but today they say that less than eight percent of all commerce happens online so as big as they are and as big as their rivals square us to one thing seems certain when it comes to the growth of financial technology her you you ain't seen nothing yet from around wondering business worst do a quick favor and tell us more batch yourself visit one three dot com slash survey. We'd love learning more about I'm I'm David Brown. Thanks for listening and we'll be back. This episode is brought to you by send pro online from Pitney Bowes Shipping and mailing from your desk has has never been simpler than with San pro online from Pitney bowes with simple online is just click sand and save for as low as four dollars ninety nine cents. That's right at four dollars and ninety nine cents a month. Send envelopes flats packages right from your PC and you are back to business in no time. Try It for free for thirty days and get a free ten pounds scale but only when you visit P B dot com slash B._w. Daily that's P._B. Dot Com slash B W daily.
"peter thiel" Discussed on Pivot with Kara Swisher and Scott Galloway
"Really will help you in that regard. You don't need a neural network implant it in your brain. What about Peter thiel going after Google? We'll move onto Peter Thiel situation honestly this guy. This guy suddenly crawls out of his troll whole by the way he's been quiet for a while. If you've noticed he's been super quiet and and you know here he is board member of facebook. Someone involved with Pailin Tier and all kinds of things that have been problematic going after Google is way. It's the only way I look at it is that Pailin tear wants government contracts at that. They're competing with Google on and he wants to fight up the situation. That's the only that's the only thing I can say and of course he goes to his friend Tucker Carlson who is ended up with a spoon. That's how I look at it here to saying that. He's worried about Google being co opted by the Chinese and at this is near treasonous aboard member of facebook saying that is literally similar to Jeffrey Obscene sayings disturbed by the documentary on Michael Jackson is just okay boss. You're just not really in a position -sition moral authority to be criticizing other big tech. I just you got it. It's just incredible that he would. I would imagine the other facebook board members giving them the same advice at Albert Brooks gave William hurt him broadcast news when he said what do you do reality exceed C._J.. Wildest imagination and Albert says keep it to yourself. This guy should not do anything because they didn't do anything during the Gawker thing I had Cheryl mark on stage asking about when Peter went after Gawker secretly I had the problem with he's aboard member of a company. That's trying really hard to help publishers or say they are and then there's more members secretly suing went out of business and they're like well. Peter does when he wants nothing to face with. That's usually their position on Peter Thiel. It seems like he can do what he wants separately from it's nothing separate with Peter Tail Yeah. He's a unique individual. I don't it's very hard to put your finger on him. I loved his book zero to One <hes> but he's an odd dark. There's just no I don't I don't see how that Calculus pays off for facebook or all. I can think of was what agenda is going. which many agendas Peter Thiel was happening here? There's so many to choose from there all nefarious in some fashion and I was like which one why now why does he suddenly get loud when he was quiet before what's his move and he's so sma he was talking about a chess player. I don't don't even think I can figure out what his grand move is and I think you know you'll see more of them as the election goes forward but it's interesting that he just POPs up. I was like Whoa high you again. It like you know they're making it to another version of the clown. It's the guy with a hockey mass and the chainsaw. We weren't expecting you back so <hes> and the last thing did you see the testimony is his name David Marcus the guy's head of libra libra. Oh you like them. He's Nice. He's a Nice Guy Yeah but he claims claims that his argument has gone to this nationalist argument that well if we don't do it a foreign companies going to do this and it's like well from what I understand. There's other American companies J.. P. Morgan or Amazon could do this and it's so funny face. He's running facebook sleep yeah. He's running running Lebron by the way for all the supposedly a lot of people in Silicon Valley Listener podcast. If you're working for libra you're literally heading to work this morning to waste your life..
Jeff Bezos vs. National Enquirer could be a watershed
"The big news of yesterday is that Jeff Bezos went to war went to war with the National Enquirer now to be perfectly accurate the National Enquirer. I went to war with Jeff Bezos. Now, you'll recall the Jeff Bezos is the owner of both Amazon and the Washington Post, and he has been running gun battle with President Trump fort legitimately three four years now over President Trump's politics president from belief that the Washington Post is a smear machine against him. And so president from his revelled in all of the allegations about Jeff Bezos. And all of the new information that pizzas was cheating on his wife with his next door neighbor. And now they're gonna get a divorce and his wife is going to walk away with one hundred and seventy billion dollars or something. Well, now it turns out that the National Enquirer was trying to blackmail visas. They head of pain photos and text messages. Of Bezos, his crotch, basically. And then they went to be and they said we'd like for you to stop using the Washington Post to investigate us or these photos might unfortunately. Well, beezus then just basically said all right. Well, if you wanna play this game here, we go, and he just unzipped and put everything under the table. So yesterday in a very long post from medium dot com. He wrote. No, thank you, Mr. Packer it. There is something unbelievable about the fact that the owner of the National Enquirer is named Packer which led to the headline in the New York Post as well as the Huffington Post today. Beeson exposes Packer, which is a fantastic fantastic. Headline here is what Jeff Bezos posted. He said first of all just word to the wise. Don't blackmail a die worth one hundred and seventy billion dollars who also has the capacity to create two delivery for anything. Right and has drones like squads of drones that worked for him. It just to go very poorly, by the way, it turns out the main distributor for the national inquirer owned by Amazon dot com. Okay. So here's what here's what he says. Something unusual happened to me yesterday. Actually for me. It wasn't just unusual. It was I I was made an offer I couldn't refuse or at least. That's what the top people at the National Enquirer thought. They thought that because in of them to put it all in writing rather than capitulate to extortion and blackmail. I've decided to publish exactly what they sent me despite the personal cost and embarrassment they threaten AM, I the owner of the National Enquirer led by David pecker recently entered into an immunity deal with the department of Justice related to their role in the so-called catch and kill process on behalf of President Trump and his election campaign, Mr. Packer and his company have also been investigated for various actions, they've taken on behalf of the Saudi government and sometimes mister pecker mixes it altogether after Mr. Trump became president. He rewarded Mr. Packers loyalty with the White House Jenner switch the media executive. Brought a with important ties to the royals in Saudi Arabia at the time, Mr. pecker was pursuing business. There will also hunting for financing, for physicians that is from an article from I believe, the Washington Post federal investigators legitimate media have of course, suspected improved that Mr. pecker has used the Enquirer, and I for political reasons and yet AM I keeps claiming otherwise American media emphatically rejects any assertion that it's reporting was instigated dictated. Or influenced in any manner by external forces political or otherwise. Of course, legitimate media have been challenging this assertion for a long time. And then he has a list and sources he says I didn't know much about most of that a few weeks ago when intimate text messages from me were published in the National Enquirer, I engaged. Investigators to learn how those texts were obtain and to determine the motives for the many unusual actions taken by the inquirer, as it turns out there are now several independent investigations looking into this matter so lead my investigation, Gavin tobacco. I've known Mr. tobacco for twenty years. His expertise in this arena is excellent. And he's one of the smartest and most capable leaders. I know I asked him to prioritize protecting my time since I have other things I prefer to work on to proceed with whatever budget. He needed to pursue the facts in this matter perks of being billionaire. Here's a piece of context by ownership of the Washington Post is a complex afire for me. It's unavoidable that certain powerful people who experience Washington Post, news coverage or wrongly conclude. I am their enemy President Trump is one of those people obvious by many tweets also the post is essential and relents unrelenting coverage of the murder of its columnist Jamal shaggy is undoubtedly on. Popular in certain circles back to the story several days ago, and I leader advised us that Mr. Packer is apoplexy about our investigation for reasons. Still to be better. Understood the Saudi angles seems to hit a particularly sensitive nerve a few days after hearing about Mr. Packers apoplexy we were approached verbally at first with an offer. They said they had more of my text messages and photos that they would publish if we didn't stop our investigation. My lawyers argued that has no right to publish photos since any person holds the copyright to their own photos and since the photos in themselves don't add anything newsworthy. That is the case, by the way, the Peter Thiel and hulk HOGAN made against Gawker, and basically bankrupted Gawker AM is claim of newsworthiness that the photos are necessary to show Amazon shareholders that my business. Judgment is terrible. I founded Amazon in my garage twenty four years ago and drove all the packages to the post office myself today. Amazon employs more than six hundred thousand people. I went those results speak for themselves. Okay. Back to that threats publish intimate photos of me. I guess we me my lawyers and Gavin de Becker didn't react to the generalized start with enough. You're so they sent this. And then. Chief content officer he he pays an Email from the chief content officer of to the litigation counsel for tobacco about Jeff Bezos. And it says Marty I leaving the office for the night, however in the interest in expiating, the situation, and what the Washington Post poised to publish unsubstantiated. Rumors of the Washington inquirers initial report I wanted to describe to you the photos obtained during your news gathering in addition to the below the belt selfie. Otherwise, colloquially known as a bleep pack, the Enquirer obtained a further nine images, and then they described the images including including images from visas to his lover whose name is Sanchez and pictures of his crotch and all the rest visa says attention, but not in the way, they likely hoped any personal embarrassment AM, I could cause me takes a back seat because there's much more important matter involved here if in my position, I can't stand up to this kind of extortion. How many people can on that point numerous people have contacted our investigation team about their similar experiences with I and how they needed to capitulate because for example, their livelihoods were at stake? In the letters. I'm making public. You will see the precise. Details of their extortionate proposal. They will publish the personal photos unless Gavin to Becker. And I make these specific false public statements in the press that we have no knowledge or basis for suggesting that AMA's coverage was politically motivated or influenced by political forces. If we do not agree to affirmatively publicized that specific why they'll say, they'll publish the photos and quickly and there's an associated threat, they'll keep the photos on hand, and publish them in the future. If we ever deviate from the short, no real journalist ever proposed anything like what is happening here. I will not report embarrassing information about you. If you do X for me, and if you don't do X quickly our report, the embarrassing information, nothing, I'm at right here could tell the National Enquirer story is eloquently as their own words below and then he just dumps out all of their emails. So here is why this is relevant number one AM. I was being used to go between by President Trump during the campaign to pay off various women, and that obviously has been reported on the dot that has yet to be connected, and the one the media are jumping on here is this. Suggestion that President Trump both hates the Washington Post and used AM is the go between. So maybe the reason that AM I was going after Beeson is because visas was going after Trump. So basically, am I was frayed that Beeson was going to discover some sort of corrupt relationship between the Saudi government, and am I on the one hand in Saudi government and the Trump administration on the other and his corrupt triangle colluded together to go after Jeff Bezos? And then I tried to blackmail visas to that notion apparently Becker has now been telling reporters that he thinks that these text message, we're actually obtained maybe by a government source meaning that the phone wasn't hacked instead government. Data gathering allowed the Trump administration to grab the text messages. And then hand them off to AM. I obviously if that's true. Trump gets impeach right me. If that's true, then at the end of the road for the Trump administration using government resources in order to grab the text messages of your political opposition in the reports four you'll feel and then blackmail that would be the end of the line for president forget about impeachment. He'd go to jail. I mean that that's an actual crime for a variety of reasons. But beyond that they're trying to now connect that have not yet been connected. Nobody really understands why am I was going after visas? It doesn't make a lot of sense from going after visas makes sense in the sense that Trump doesn't like visas, but the idea that AM I was blackmailing Bezos to stop reporting about their connection with the Saudi government where they do that on their own if they're doing it on their own. It just demonstrates what we've already known, which is the AM. I is basically just a payoff organization and is used by various rich people in order to shutdown stories. They don't like also they blackmail people. Right. This is this is pretty well known all of this is going to come out. We're gonna find all of this. Because remember that David Packard AM. I are currently in a plea arrangement with the southern district of New York in the US district attorney for the southern district of New York. They're in a plea arrangement by which they are obligated to cooperate with the southern district of New York's if you think that all of this is going to stay secret. It is not I will say this all credit to beat us really like. I, you know, I'm a fan of Amazon, I think it's a great company. I was one of the first subscribers to Amazon prime I've been a member of Amazon says like nine thousand ninety eight but putting aside my own business interests in this journalist blackmailing people people blackmailing people, generally, he's really disgusting and trying to suggest that you're going to reveal personal information about someone unless they do what you want is not only a violation of law. It is a breach of basic human decency. So good for us. I mean the man can't afford to do it. And honestly, what does he have to lose at this point? Like people are going to see his his junk. What does he care? He's the richest man on planet earth. So what I did. He has the same junk everybody else does. And he's feeling the same way. So honestly good for be so good for visas should personal issues be used by journalistic purportedly journalistic organizations to blackmail. You the answer, of course, is no so good for for
"peter thiel" Discussed on We Study Billionaires - The Investors Podcast
"All right back to the show. One example of this going back to this crooked discussion, perhaps someone the listless know Peter Thiel was one of the first major figures that invested in bitcoin, and he did that in the early days. I've read an interview with him that was reason very recent that he still felt that there was probably an eighty percent chance that bitcoin would be worthless. Whenever he did wait that outcome with the pro ability of it being right, or if that was I would say. A secret that was about to be revealed as he would probably say based on this question. It was just such a good bet that there was no reason why he shouldn't do it. And the thing that tells you so much about how he thinks about things that he's thinking as a contrary investor knowing that he's most likely wrong because very often the heard is right to some extent. But if you can pick the places where it's not, and if you have a good model or multiple models to figure out where the hurt is wrong. That's really when you can make money as investor and grow as a human being next question. This is the last one we're gonna play Peter Thiel was asked do you worry about artificial intelligence, and what it'll do to us and our ability to earn a living, and this is how he responded. I'm a strong is still play the long ways. Aw. If we ever words get artificial intelligence, whoever to build computers that are as smart as human beings in every way, this would be a momentus event. This would be you know, it'd be as a significant extraterrestrials landing on this on this planet and aliens landed the first question would not be about the economy. And what does it mean for your job? The first question would be political. Are they friendly? Are they unfriendly I think even frame it as a question about jobs is to understate the importance or or is it seismic nature. I would represent I think short of strongly. I However, I think people are way too worried about computers in this economic sense. I think we have we live in a financial in a capitalistic age. I argued elsewhere that I think we do not live in a scientific or technological age. And and most people in the US, western Europe, really don't like science. They don't like technology. They're biased against it. And also. Lots of ways. It's true people. It's true. The politicians it's true of the government's. It's true. The culture these way to see this as you just look at all the Hollywood movies that basically show technology that doesn't work the kills people's destructive. You can choose what it's matrix. Terminator avatar. I watched the gravity. Maybe we other day you'd never want to go to Mars even outer space be much happier being back on somebody island somewhere on this world..
Palantir may go public, but can it turn a profit?
"This marketplace podcast is brought to you by hot cloud storage. If your company is thinking about moving data storage to the cloud, then you need to think about Sabi, it's less expensive than just the maintenance on your current on premises storage. See for yourself with free unlimited storage for a month. Go to Assab dot com. Click free trial and use the offer code was Sabi. And by the Michigan economic Development Corporation when it comes to mobility, more and more businesses are turning to planet, m Michigan is home to the largest concentration of auto related engineers in the nation as well as various all road and all weather autonomous testing centers. The learn more had to planet m dot com. Planet in Michigan where big ideas and mobility are born. Helen tear promises to see all crime with data. But does it work from American public media? This is marketplace tech demystifying the digital economy. I'm Ali would. Data analytics company Pailin tier is reportedly considering going public Pailin tier is the company co founded by controversial Silicon Valley billionaire Peter Thiel, formerly of pay pal. It's named after an all seeing artifact in the Lord of the rings trilogy, and it promises police departments governments even the IRS that it can take in a huge amount of data and make a informed guesses to help track down criminals and in a secret pilot program in New Orleans, Pailin tear tech even tried to predict when crime would happen or who might be a victim. But lately, it's huge twenty billion dollar valuation is in doubt and privacy. Activists are concerned about its tactics. Let's dig into this in quality assurance the segment where we take a deeper look at a big tech story. Mark Harris is a reporter who's covered Pailin tear for wired politics selling point is that can take these hundreds of data streams from old different kinds of systems that don't nobody worked together. And it can squeeze them all into this pot to come up with these insights. But that's actually really tricky because you have to understand a lot of different types of Audra, a lot of different types of software and databases and every company and every jurisdiction dustings way. Well, in one of the other things that's been speculated is that pollen tear may have actually promised cities like New Orleans or Los Angeles that it could do sort of pre crime prediction, right that it could sort of use artificial intelligence to say, oh crimes are more likely to happen here. You should direct resources that way. Yeah. It's the case that police departments want to be smarter about the way they deploy their offices and deployed their resources to question is can you do that in a way that respects people civil liberties that doesn't talk it populations minorities, perhaps a poll neighborhoods that have disproportionate amounts of policing? Even though there's plenty of crime happening. Elsewhere there's a cycle of there's been crime here in the past. So let's go there gin and. Or you can institutionalize a lot of biases and discriminations. The you know that we've seen historically in cities across America. It reminds me a little bit of the Cambridge Analytica story where they were saying look, we can use this data to micro target to such an extent that it will be like, we're psychic. We can get right inside someone's brain. And I wonder if there is a possibility that no company can do as much with mounds of data as they promise. Right. That's really true. Right. It's nice that they have success stories, but we're not seeing the day today work with not seeing how useful it is for officers, and some of the emails that I've seen, you know, found that some people using the thought it was path other people, you know, had struggled with it and struggle to get it usable by them and to give them useful results in their work. So you're right Parenti has this mystique of having trouble the intelligence agencies. They have a grey attractive background. They sound like a an interesting company to have that sort of technology working in your organization into the truth of it is can you actually see whether it pays for itself. I haven't seen those data it's entirely possible. And if they go public, which they're planning to do in the next couple of years, then we'll have a lot more visibility into what they're doing. Mark Harris wrote about Pailin tear in wired this month, you can find a link to that story at our website. Marketplace tech dot org. And now for some related links literally related this time. First of all, you have to read the Wall Street Journal story from the other day about pollen tear, and it's and possible problems with its business plan if only for the description of Pailin, tears, the Alex carp his beanies, but Varian farmhouse tied cheese swords loud German phone calls and how he describes Pailin tear as a quote colony of artists, but plenty of people find surveillance software. Neither Corky nor artistic last month. Several immigrant rights groups put out a report accusing Pailin tear along with Amazon and bay area company called forensic logic. Which does predictive crime analysis of helping the Trump administration excessively target immigrants for jail or deportation? Amazon you may have heard has been selling facial recognition technology to law enforcement agencies. The software is called recognition spelled with a creepy. K instead of a sif. In may the ACLU ran a test of the system and found that it accidentally match twenty eight members of congress with mugshots of other people. Amazon said it was mis calibrated last month and anonymous Amazon employee wrote a medium post saying that four hundred fifty employees inside the company had signed a letter to Jeff Bezos asking the company to stop selling the recognition software to law enforcement and actually to kick Pailin tear off of Amazon web services. What a tangled web of surveillance. We we've happy weekends everyone. I'm Ali would. And that's marketplace tech. This is APN. This marketplace podcast is brought to you by the Michigan economic Development Corporation. Our world is becoming more hands free. Thanks to planet, m that will also include the future of transportation, Michigan has the most comprehensive Thomas real world testing under every road and weather condition and leads the nation and patents relating to navigation and smart mobility to learn more, visit planet m dot com. Planet m Michigan where big ideas mobility are born.
Murdoch Caps Long Career by Laughing All the Way to Bank
"R. a. dot net The brewing trade war is moving into currency markets the dollar weakening yet again after President Trump complained, on Twitter that the greenback is getting stronger is also. Criticizing the Federal Reserve raising interest rates Lucy. McDonald the chief investment officer, for global equities at Ali on. Global investors the timing that I would suggest is to, do with the concerns, about currency if there is a feeling that the trade tensions are moving into a. Currency war event he would definitely want to be involved in, that will say that from the reading. Of the timing that would, look to be the case, Federal Reserve has raised interest. Rates five, times since, President Trump took office and China's currency and focus again after the country's central Bank weakened it's fixing by the most in more than two years Leland Miller is CEO. China beige book, international it's definitely. Trade, were related but China's not, devaluing the currency. They're just not stepping up to prop it up six seven may worry markets but, it's not the place where, the PVC wants to step in to stop. This so I think the two critical number One six nine six nine. Is where President Trump. And, inherited that you want and if, it gets any weaker the NAFTA means if you want has weakened on his watch, that's not, a good symbol it's something that the Chinese would really be prodding. And poking President Trump if they knew that the Chinese Yuan has declined more. Than four percent over the past month j. p. Morgan Chase has the decade-long bull market, at US stocks has more room to run the banks asset management team forecast that US equities could keep gaining for another two and a. Half years at the same time, j. p. Morgan warns that returns won't be as high as in the past Rupert Murdoch cemented his reputation, as a great media dealmaker he's poised to complete a. Seventy one billion dollars sale of selected twenty-first-century. FOX assets to Disney now, that Comcast has dropped out of. The running Bloomberg billionaires index estimates Murdoch is worth eighteen, billion dollars he's dance, to add about three billion of business stock to that fortune at billionaire Peter Thiel. Is considering strategies to invest in Chinese Startups Bloomberg has learned that the oil is weighing different approaches for investment including raising a fund. Or entering a partnership feel was an early investor in Facebook and. Co-founder pay pal just ahead a check. Of the markets this is Bloomberg global news twenty four hours a day at Bloomberg. Dot.
Broadcom acquires CA Technologies for $18.9B in cash
"The us the eu and japan the boards of both companies have already approved the deal and quote tech crunch notes that it's a bit of a surprise to see a chip maker like broadcom acquire a software and services company broadcom ceo hocktan released a statement that said quote this transaction represents an important building block as we create one of the world's leading infrastructure technology companies with its sizable installed base of customers see a is uniquely positioned across the growing and fragmented infrastructure software market and its mainframe enterprise offer franchises will add to our portfolio of mission critical technology businesses we intend to continue to strengthen these franchises to meet the growing demand for infrastructure software solutions and quote but as tech crunch notes that statement doesn't exactly explain the rationale behind this deal other than by merely hinting at a product line diversification attempting to buy a fellowship maker qualcomm tom had the obvious logic of industry consolidation but this purchase essentially means broadcom is entering an entirely new business though this deal does have the advantage that it's unlikely the us government will try to block it axios says quote the qualcomm experience suggests that broadcom which was based in singapore before redone asylum to the us is unlikely to get regulatory approval for another chip deal so it's going with a software play instead kind of like win intel bought mcafee though as axios own enough read tweeted quote dear broadcom you know intel is trying to get out of mcafee right this after noon and an auction at the law firm ropes and gray llp in new york city the remaining assets of gawker more than fifty domain names in archive of two hundred thousand articles going back nearly twenty years some social media accounts and a sort of trademarks were all purchased by bustle and bleacher report founder brian goldberg at the time of this recording i could not confirm the actual purchase price but the opening bid did come in at one point one three million dollars and some have tweeted that the winning bid was one point three five million if you'll recall gaca media was forced into bankruptcy after losing a lawsuit brought by hulk hogan a case which it later was revealed had been secretly financed all along by peter thiel other gawker properties including moto jesu bell kotoka and deadspin were bought by univision communications for one hundred thirty five million dollars but nobody wanted to pick up gawker and it's archives until today no word on what brand goldberg intends to do with gawker yet but as many have pointed out on twitter goldberg was the target of some fairly scathing gawker post back in the day gawker once called bleacher report quote an enormously popular sports site written by and for idiots and quote so will goldberg resurrect gawker or did he simply by to bury it time'll tell this actually hasn't been a happy week for the memory of gawker media in a related story just two years after buying the former gawker media which has now been renamed gizmodo media group univision media is reportedly putting that property back on the market also up for sale the onion which univision bought around the same time so not only are gizmodo and company looking for.
"peter thiel" Discussed on Hello Internet
"His big early investments was facebook which paid off for him very well in current day time peter thiel is a bit of a controversial billionaire back in two thousand seven he wasn't really in the public eye and the way he is now but he was already a very successful venture capitalist but he was still kind of making a name for himself in the broader world at that time but he was billion a multibillionaire he wasn't a billionaire until after the facebook ipo which happens after two thousand seven but he's like he's already a hundred millionaire he's a man not lacking in resources in two thousand seven but i'm just trying to portray that if people know the name peter thiel now like he was not the guy he is is now then he was just a very successful person like crazily successful person he wasn't a public figure at that point so peter thiel operated in these venture capital silicon valley circles and you know it's his whole business to make investments in companies and the intersection between these two men is when gawker runs a story outing peter thiel as gay the headline very gawker kind of headline was peter thiel is totally gay people which pay to it was not happy about peter thiel not happy about it we can get into the precise details of why a little bit later but this incident and this article where they outed peter thiel is not a thing that he lets go it was part of a series of articles nick denton interestingly is also gay and he was of the belief in two thousand seven that gay people should not be in the closet like that the world was a worse place because of that and i think it's important to also remember that like in two thousand seven none of the potential presidential candidates endorsed gay marriage like this is a social issue upon which the world has changed its mind in the relative blink of an eye and so two thousand seven feels like the modern world like that's when the iphone comes into existence and the internet has already been around but on this issue was still not the modern world as it is now and i think it's useful to just kind of make a note of that so nick denton felt like he was on a bit of a crusade to out people who he regarded as being an open secret that they were gay and he considered peter thiel to be one of these people and there were a series of similar articles outing other people and so peter thiel like it wasn't in just about him it was also about the way gawker was operating to editor realize somewhat like gawker was a really salacious gossip company and peter thiel also thought that like they were not good for the world but he kept this in his mind and eventually what happens is that peter gray he stewed i think it is fair to say that he was doing about it over time there's a lot of descriptions about how he is talking to other powerful friends about what he's describing as like the gawker problem and he's looking for some way to push back against gawker he actually ends up having like meetings with the reporters to try to see is there some kind of truce that they can have here and that doesn't go very well but yeah i i think it is fair to characterize at some part of his brain is stewing on this as a problem and he's looking for what can be done about it and what eventually happens like four years later is that he is pitched an opportunity to try to sue gawker to essentially create a little bit of a law firm that peter thiel will be separated from that he won't be publicly known to be involved in and that little law firm their whole purpose will be to try to comb through everything that gawker has ever published and look for potential suits that they can bring against gawker for wrongdoing but note the two when it's important to point the one that upset taylor in the first place about himself it's about other third parties who are being done over by coca this is where it starts to get interesting and this is why the book is called conspiracy because it is fair to say that peter thiel is conspiring at some point he stops talking to his friends about the gawker problem in any public way he.
Memory transplant in snails achieved by scientists
"Apparently some memories are stored in genetic code and apparently right here in california down at ucla scientists seriously in a new study extracted rn a from one snail and implanted it into another snail they dribbled that same rna over a bunch of loose neurons in a petri dish both experiments the recipient either the snail or the petri neurons remembered something that donor snail had experienced they're transferring memories now they're transferring memories that is deeply upsetting and now you're gonna get peter thiel who's gonna live way
'Memory transplant' achieved in snails
"Apparently some memories are stored in genetic code and apparently right here in california down at ucla scientists seriously in new study extracted rn a from one snail and implanted it into another snail they dribbled that same rna over a bunch of loose neurons in a petri dish both experiments the recipient either the snail or the petri neurons remembered something the donor snail had experienced they're transferring memories now they're transferring memories that is deeply upsetting and now you're gonna get peter thiel who's gonna live way beyond the five hundred years he's promised if you're able to do this with a human and remember chinese scientists are working on transferring a human head from one body to another because who doesn't want a memory of snail what well how about an elephant i mean i don't know did snails remember they do apparently if it's in the genetics but the memory was really simple though it remember there brainless nervous system so it was the shock of an electric zap in the rear so they would they would one snail and the other snail feels that when once it's transported remember it and and so they would move there it would retract its little belly a little bit so shocking snail often enough it will remember it's getting zapped a lot lately and it's pair of patio will retract for longer and longer periods of time while that was that's a simple memory so they were able to transfer that from one snail to another that it needed that alison it needed to retract itself more and more often it all they did was transferred urinate and then new snail.
"peter thiel" Discussed on How I Built This
"We had a meeting with peter thiel answer just as in this conversation we sort of told them structurally what we saw as being all the kind of major flaws in pay pal looking back on it i said cringe little as you know how impolite aghast i must have been again founder of copan right exactly and so you know at at at great length belabor the point of how they'd kind of bad things wrongly but peter being as such a sort of you know an inveterate contrarian was quite sympathetic to this case and decided on the spot to make you know a fairly gam material investment of two hundred thousand dollars so what did peter tlc and stripe like what was it easy to use them in what was it the kind of thing where a software developer would be like oh my god somebody is finally figure this thing out i i think many of the developers were just really glad that someone who is finally paying attention to them at all now as it happened we paid obsessive attention to them and we're really building for that audience but the baseline that people were working with was very low it was not competitive i think what changed and wash we were fortunate to be a part of was the fact that now for internet businesses payments is actually part of the strategy that matters i it's part of the product experience and so bas.
"peter thiel" Discussed on EconTalk
"Sexual orientation of peter thiel who into doesn't seven was sort of best known simply as founder of pay pal and then you know the this early investor in facebook the magnitude of that bet hadn't fully been made clear yet obviously and then at the bottom of the article and i think this is what til reacts to the most denton would post a series of comments serve speculating as to why to was so secretive about his sexuality and and so as you said it was it was not just that peter to was gay which was a fact although a not particularly well known fact that peter thiel was gay and not willing to talk to people about it and so till was not happy about this and it some point maybe right away thought about whole set of things including that he was angry yes that this may be was good or bad i'm sure started thinking about whether it's good or bad for the world at this kind of thing would would become well known something that person wanted to keep private and there's a dinner in what year is that dinner in berlin two thousand eleven so four years go by and peter till what happens in those for years and then what what happens at that dinner yeah it's actually interesting in denton comments he even alludes to at that time that til may have been threatening or there may be some sort of reprisal for gawker running this article that the thiel was very upset and and yet nothing really happens for the next four years till does higher and attorney in new york city named eddie hayes who's a character in in bonfire of the vanities is sort of a famous mob attorney and worked for a number of other outlets and intil hires him just to sort of explore what his options are not not necessarily legally like teal.
Facebook and Cambridge Analytica hit with first state lawsuit
"In hundreds of events called march for our lives many came with signs nine says please keep me safe mine actually guns do kill people ryan says protect kids not done smyth fine says it has sought some prayers crossed out and assess policy change instead sampling of people in washington dc the austin cereal package bomber left a confession in which he called himself a psychopath in that recording mark condit who blew himself up on tuesday expressed no remorse for his victims loyola of illinois is heading to the final four of men's college basketball after cruising past kansas state seventy eight sixty two in the night's other elite eight game michigan leads florida state by four about midway through the secondhalf on richard johnson and i'm susanna palmer from bloomberg world headquarters the wall street journal reports federal reserve bank of san francisco president john williams is the leading candidate to replace william dudley as head of the new york fed williams who's fifty five has led the san francisco fed since two thousand eleven when he took the reins from janet yellen who went onto become fed chair before she stepped down february third dudley who's sixty five has said he plans to step down by mid year as we've been reporting to people familiar with the matter say president donald trump is preparing to expel dozens of russian diplomats from the us this in response to the nerve agent poisoning of a former russian spy in the uk trump agreed with recommendations from advisers and the expulsions are likely to be announced on monday the people said though they cautioned that trump's decision may not be final facebook ceo mark zuckerberg and members of the company's board are being sued by a shareholder for breach of fiduciary duty this for failing to protect users from misuse of personal data in the controversy over cambridge analytica the shareholder filed the suit in san francisco federal court the board reads like a who's who in silicon valley mark zuckerberg marquette andriessen erskine bowles susan desmond hellman reed hastings yawn com sheryl sandberg and peter thiel saudi arabia and energy minister khalid al follow us as americans will have a chance to own shares in saudi arabia's oil company saudi aramco he spoke today to an audience at the massachusetts institute of technology saudi crown prince mohammad bin salman is visiting the us this week traders and investors have another day of rest and.
"peter thiel" Discussed on KGO 810
"Which is a gossip empire they outed the tech investor peter thiel gay for the next four years he simply waited any waited until two thousand twelve when dr would run another sort of invasion of privacy so they published the illegally recorded sex tape of the professional wrestler whole cogan and working in secret ceo has an operative reach out to whole game they fund this case and for the next four years at winds its way through the legal system doctor thinks they're simply fighting this absurd professional wrestler who doesn't have much of a case and they don't realize that actually it's their enemy peter thiel dade so thoughtlessly picks a fight with that was plotting their destruction and ultimately he wins one hundred and forty million dollars verdict in canals county florida they kept expecting that oh it's first amendment privilege whatever man they legally obtain these tapes and against his will against his wishes air these horrible tapes and and they just went after it and because it costs so much most people just stay dan down here the depositions these guys gave it gawker was the insolence and the well the the unintended consequences of their insulin and the those depositions the media is often under the impression that first amendment covers every single thing you could possibly say or do and this is just an objective we false impression because there's copyright law there's privacy laws and the fact that someone is a celebrity doesn't mean that you can run a sex tape of them one because you don't have the copyright to and too because it can be seen as an invasion of their privacy and in this case you know this wasn't a collaboration between hulk hogan and this woman it was something that was recorded without his knowledge or consent and so doctors sort of never really was able to explain why they ran the tape and i think the truth is they ran it because they thought it would get lots of clicks and they didn't run it by their lawyers they didn't think about the consequences if they certainly didn't say oh we're going to be held accountable for in pinellas county florida where media outlet manhattan what do we care about the laws of florida the listeners how the attorneys that were deeply involved with all this are now people were looking at in the home stormy daniels bass well what's so surreal about this.
"peter thiel" Discussed on The WIRED Podcast
"That's what gharka wrote about and so they they wrote about it and you could argue you know that it is not simply to said look you know peter deals this in a wellknown technology investor and an it's worth celebrating that he's gay the article was much snarky or than that and and and and i think what particularly struck peter though and he he said to me but it was never the article it was the comment at the bottom and there's a common to the post as the combat is no longer there but there was a comment from nick denton post posted about twelve or so hours after the post went live that speculated about the reasons why peter kept his sexuality secret and i think the line that struck peter was denton saying the weird thing about peter thiel is why he's so paranoid about it and why he's been so for so long and peers read on this was that a detonator was implying that there was something psychologically wrong with it now it's really interesting because i don't read it that way when i see it that's not what i read but i think it's i think what matters and what a lot of people have missed is that that's what peter thiel saw and ultimately that's what matters and so he he took he it you know there's this saying in the united states it's not what you say it's what people here and and what peter heard was an attack and he met that attack with an attack of his own as soon as he was able to and you mentioned the similarity between ptom mick denten and he's yes riddick bowe striking i mean both immigrants to the united states i'm both intelligence successful a both gay boat both incredibly a well.
"peter thiel" Discussed on Reliable Sources with Brian Stelter
"The trial begins in in march of two thousand sixteen it had been originally set for july of two thousand fifteen and again this i think goes to that point gawker had had fought and fought for a delay of the trial it's it's pushed another nine months you know if you're fighting whole cobian that's a that's a huge victory right because now he has to pay his lawyers your another nine months he's he's he's his bank account is running low uh when you're fighting someone with a limited resources you're you're in some ways only digging the whole deeper for yourself and i think gawker one some ways ran a perfect legal strategy if they were fighting an ordinary celebrity they ran the exact opposite strategy that you would want to run if you were fighting a billionaire if you're fighting a billionaire you want to present yourself as the little guy you would want to perhaps apologized to the jury you would want to you know you'd want wanna highlight different things than if you were fighting a professional wrestler so this trial on one level it's about a sex tape and how was published but then on this other level that's about this billionaires vendetta when did it become really clear that peter tale was the man behind this that is the million dollar question uh obviously in retrospect uh there there's hints like you said uh th there was some suspicion but it is not until two months after the trial that peters identity is confirmed and and the public is made aware that there was more going on to the story so disney incred in some respects it didn't even matter right because the verdict had already been rendered may 25th two thousand sixteen it's the andrew ross sorkin column in the new york times headlined peter thiel tech billionaire reveals a secret war with gawker how'd you been studying this case at that point i mean but by then in the trial was over the jury it awarded hall kogen one hundred forty million dollars then we find out it was really peter thiel he gives an interview he says this was less about revenge and more about specific deterrence and it did shocked the entire media business when did you start to get interested in this.
"peter thiel" Discussed on Reliable Sources with Brian Stelter
"Conspiracy so the the verdict against gawker media in march of two thousand sixteen seemed to be sort of the end of uh of the story and most people didn't actually understand where the beginning was the beginning was not in two thousand twelve when when gawker ran an illegally recorded sex tape of the professional wrestler it began in december of two thousand seven when a gawker reporter ii called valley wag outed uh than the uh relatively unknown technology investor peter thiel and for the next several years uh peter who who is a notoriously private person uh many call him a sort of a contrarian thinker uh was was in some ways obsessed and and distressed by this sort of violation of his privacy and ends by the idea that a that a site would sort of so capricious lee wheeled its it's power as a media outlet this is uh his opinion although it was one in a shared by many people and so he he just sort of despaired at not being able to do anything about this it's not it's not illegal in most cases to two out some one even if they don't want to be uh especially if they're in some ways a public figure and so he he was he was unable to do anything about it and and eventually came to the conclusion that well well uh outing someone was not a legal perhaps other articles that gawker had written or would right would rise to the rise to the level of being the legitimate cause of action in a court of law that that perhaps and an outlet that would be so uh reckless or thoughtless might have made other mistakes and ends up hiring a highpowered attorney he he puts together what i call a conspiracy at a number of collaborators and and sort of a secretive uh uh people in his employ who then plot a way to destroy gawker and and when the whole kogan sex tape is run.
"peter thiel" Discussed on The Hustle Show: Entrepreneurs with No Filter
"Sixteen that ultimately failed as well and so what i was doing when they had this this internship termed job ended up becoming like an early team member of the starter is i was building my own thing on the side of the entire time and so at sixteen tried the new start up i worked on that from sixteen seventeen and scott a little bit more progress on but again didn't really have any major success with that company or went working for david and building on the side allowed me to do was to get in touch with the the thiel foundation and charter what they were doing i'd so for everyone listening doesn't necessarily know what i'm talking about peter thiel from pay pal theme started this foundation and part of the foundation is a fellowship where he gives twenty kids under twenty about one hundred grand to drop out of school and builds crazy sainz things are starting to company he announced become aged naas stake in sort of just anyone in their twenties not necessarily after the under20 but i was i i caught window this program right is there was beginning and it was sort of the first beacon signal to young entrepreneurs that abe is one okay to do things that a young age that had your potential global impact or could really be a career for you even if you don't go to college and two it a a community it was really a connector odds young entrepreneurs around the world because when i was fifteen i didn't know the result a young entrepreneurs out there i was growing up in south florida you'll was sort of isolated from these obsolete new york san francisco that were were maybe a lot of these kids were hanging out and even then they didn't know each other in in these hubs unless they were lucky enough to be in some very like nishi areas but the tail fellowship brought everyone's together and it was through new building my own things on the side in sort of doing that.
"peter thiel" Discussed on Before the Millions
"What is your favorite before the millions i really like zerotoone by peter thiel what's that book about in why do you like it so much peter tills one of the early investors in facebook and he founded either pay pow or exculpate on x merge to become the about we know today you founded when a ju you on must hate out of the other one yet this is hen talking about what create billion dollar companies it's companies that as the book titled suggests go from zero to one things that goes from something not having that existed before two existing rather than for one two three so rather than taking something that exists in making it better you're actually creating something that's never been done before sakata takes that concept in explored lots of things around things that people find counter intuitive so people often think that competition is good you wanna see some competition the industry you're going to but really the most successful companies in the world are monopolies look facebook is a monopoly over social network schools monopoly research and how you know if you really want to discuss will company the goal at in the end is to become a monopoly so it's it's a lot of talent you'd of things that you would really on the no if you had built several billion dollar companies co yes probably the book that i recommend a you know this is also in investing podcasts so i do have to ask the question in you know speaking along mas musk space x and pay pounding all of that so do you do you currently invest your money in in any paper assets such as stocks bonds mutual funds.
"peter thiel" Discussed on Inc. Uncensored
"I'm not sure if i say this ingest in horror or an anger but izilien here's lake peter thiel the fate of humanity is not your fucking a b test like think before you do shit like this god when you've lost peter thiel you've lost like strange libertarians i wanna live forever and zoe what are you got an thorough in keeping with my usual i have a a horror button dan as as my colleagues rough when today of night i just hanging exit inc now i you know i have a sunny demeanor but on the inside i actually like you know really think that everything is bleak and we're all going to die eminent win like kind of what's the point so on mortality tuesday which is what i like to call it i i was i was having a conversation with one of the editors whose appeared on this podcast maria when we were talking about the latest news over a coup goal which is that an engineer on friday as probably listeners are familiar published a memo basically fighting back against koogle's diversity practices and saying that there are simply biological and genetic differences between men and women which make men more inclined to be good at tech in engineering jobs were not allowing for a diversity of ideology because this is sort of become you know a liberal elite bias that leaked into silicon valley he was terminated uh this week sooner pki the ceo of google basically wouldn't have it the employee was fired but there but there's been sort of an interesting backlash in the media and in silicon valley with people arguing that he shouldn't have been letko that his voice should have been better heard that his argument should have been better represented and to me it's incredibly frustrating for multiple reasons i mean so i think the biggest issue that i have is that.