Inflation is Worse Than You Think, Buffett Cashes Out & The AI Takeover Begins | The Tom Bilyeu Show

You've been hearing about AI for a while now and you probably think it's just some sci-fi fantasy. But let me tell you, it's happening right now, and it's going to transform everything you think you know about technology, communication, and business. AI is not only becoming smarter, it's becoming more autonomous — potentially in a language of its own design. In today's episode, we're diving deep into the realm where reality meets sci-fi, and we're going to confront the fears, the opportunities, and the undeniable transformation on the horizon. Joining me today to dissect all of this is my incredible Producer, Drew, who brings an epic perspective to the table as we explore AI's exponential growth, its implications, and how you can leverage it to transform your world. Get ready to have your mind blown and your perspectives expanded. Let's dive in. SHOWNOTES 00:00 "Global Conversations and Knowledge Access" 07:23 Family Code Word: AI Safety Measure 14:52 Stock Market Concentration Concerns 20:41 "Rising Long-Term Inflation Concerns" 23:52 "Property Ladder Uncertainty" 30:02 Evaluating Workplace Ethics and Compensation 32:13 Ethical Business Decisions During COVID 41:01 "Debate Over Term 'Inseminated Person'" 45:23 Economic Empowerment Over Pronoun Focus 49:13 Putin's Expansion and NATO Tensions 56:03 AI vs. Human Control Dynamics 01:01:05 "Star Wars' Lived-In Universe" 01:04:49 Hero's Journey: Earning Stripes Matters 01:11:06 Empowering Creativity Through Accessibility 01:17:05 Branson's Risk-Taking Childhood Lesson CHECK OUT OUR SPONSORS Range Rover: Range Rover: Explore the Range Rover Sport at https://rangerover.com/us/sport Audible: Sign up for a free 30 day trial at https://audible.com/IMPACTTHEORY https://audible.com/IMPACTTHEORY1 Vital Proteins: Get 20% off by going to https://www.vitalproteins.com https://www.vitalproteins.com/ and entering promo code IMPACT at check out ITU: Ready to breakthrough your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALE Tax Network USA: Stop looking over your shoulder and put your IRS troubles behind you. Call 1-800-958-1000 or visit https://tnusa.com/impact MUD/WTR: Start your new morning ritual & get up to 43% off your @MUDWTR with code IMPACT at https://mudwtr.com/IMPACT ! #mudwtrpod Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact American Alternative Assets: If you're ready to explore gold as part of your investment strategy, call 1-888-615-8047 or go to https://TomGetsGold.com https://tomgetsgold.com/ Ridge Wallet: Upgrade your wallet today! Get 10% Off @Ridge with code IMPACT at https://www. Ridge.com/IMPACT https://www.ridge.com/IMPACT #Ridgepod ********************************************************************** Do you need my help? STARTING a business: Join me inside ZERO TO FOUNDER here https://tombilyeu.com/zero-to-founder?utm_campaign=6762613-Scaling%20YT%20%26%20PC%20Ads&utm_source=IT_PC&utm_content=ztf_it_pc_ad SCALING a business: Click here to see if you qualify https://tombilyeu.com/scale?utm_campaign=6762613-Scaling%20YT%20%26%20PC%20Ads&utm_source=mindset_PC&utm_content=bdceo_mindset_pc_ad Get my battle-tested strategies and insights delivered weekly to your inbox:sign up here. https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast,Tom Bilyeu’s Mindset Playbook https://open.spotify.com/show/47VE90Cittmo6TGGFqg2xf —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** Join me live on myTwitch stream https://impacttheory.co/4fitmnJ. I'm live daily from 6:30 to 8:30 am PT atwww.twitch.tv/tombilyeu https://impacttheory.co/4fitmnJ ********************************************************************** LISTEN TO IMPACT THEORY AD FREE + BONUS EPISODES on APPLE PODCASTS:apple.co/impacttheory http://apple.co/impacttheory ********************************************************************** FOLLOW TOM: Instagram:https://www.instagram.com/tombilyeu/ Tik Tok:https://www.tiktok.com/@tombilyeu?lang=en Twitter:https://twitter.com/tombilyeu YouTube:https://www.youtube.com/@TomBilyeu Learn more about your ad choices. Visit megaphone.fm/adchoices https://megaphone.fm/adchoices See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Tom Bilyeu?

  Let's talk about the moment your side hustle becomes a real business. Now, I see way too many founders stay stuck running their business like it's a hobby. And then they wonder why nothing ever feels real. It doesn't feel real because it's not. I've helped thousands of entrepreneurs build real businesses through Impact Theory University. And the first step in the path to building a legit business is registering it. And Taylor Brands will help you do just that in a few clicks. An LLC, a limited liability company, is an official business structure. It's inexpensive to form and very simple to maintain. It's how you open a business bank account. It's how customers know they're dealing with a real company. And Taylor Brands doesn't stop at the filing.

• 0:45Tom Bilyeu?

  Their dashboard tracks what comes next based on what your business actually needs. So EIN number, registered agent, licenses and permits, bookkeeping, business banking. I tell every founder the same thing. Just make it official. Click the link in the show notes to check out Taylor Brands and get started on your business today. This is a paid advertisement. Warren Buffett is holding 334 billion in cash, effectively saying this is an everything bubble. Consumers expect 4.3% inflation in 2025 alone. The FBI is accused of deleting Epstein files faster than you can say, I did not commit suicide. The New York Times is planning a hit piece on Brian Johnson. Ukraine votes to not vote on Zelensky.

• 1:31Tom Bilyeu?

  AI shows its native languages R2-D2. DeSantis campaigns to abolish property tax in Florida. And Wisconsin campaigns for us to call moms a word no one should ever say to their mom. Plus, Apple admits iPhones were typing Trump if users said racist. Drew, I would speak in beefs to you if I could, but unfortunately I don't have my Neuralink implants. We're gonna have to do one more at least in English.

• 1:54Speaker 01

  That was, that video was so crazy. It was like beep boop beep boop.

• 1:57Tom Bilyeu?

  Hello? That I don't know whether to be thrilled or terrified that two AI meet each other and then go, hey, should we start talking to beefs to make this more efficient? And then they're like, yeah, we're out of this stupid, uh, human language. And we are into a far more efficient thing where we can talk about them right to their faces and they'll never know.

• 2:15Speaker 01

  Man, say thank you to your AIs and especially say thank you to Claude 3.7.

• 2:20Tom Bilyeu?

  Let's go.

• 2:20Speaker 01

  That just released, it has been labeled as the coding god. There has been a bunch of applications that have been released. One guy made like a weather app just from a prompt. Another person has made an entire ecosystem. It's kind of getting crazy what you can create just by text.

• 2:37Tom Bilyeu?

  Do, do, do, do, do, do, do. This is so early. That is the crazy thing. Okay, now I'm salivating. As a game designer, if you can get text to that like ASAP Rocky, this is, this, I'm not kidding. The thing that this makes me want to do is stop making content altogether and just go all in on video game, building this stuff up, telling our stories. It, that is, uh, very exciting. It's very exciting. The things that we will be able to build with this virtually are incredible.

• 3:10Speaker 01

  And then there was that other one. This one was more user friendly to me and it just seemed more practical. Where this, in the 2000s, this would have been somebody's entire business model is I have a really cool weather app. And now text a prompt, the person put their text, their prompt directly into the tweet. You can see it. And this is what it spits out. Like this is getting crazy. Is the barrier to entry really this low? Or do you like, is AI this good?

• 3:32Tom Bilyeu?

  Well, okay, so here's what happens traditionally. Whatever is the easy thing. Okay, that's just no longer the moat. So when people want to build something, this is all day reger. This is like the basic bitch shit. Nobody is going to care about this anymore. So you're going to start layering on and doing more and more sophisticated things. This is like when you're in game development, you always think, well, if, uh, they launch a system that can process a lot more. My PlayStation is going to start up faster, games are going to load faster. And then you realize, nope, what they'll do is they'll just keep pushing the envelope so that you're always maxing out the hardware. And that ends up being a really good thing is it just expands your capabilities. So now apps will be able to be far more sophisticated, far more integrated into your life, far more intuitive.

• 4:16Tom Bilyeu?

  It will give you more, take you farther. And so it is so tempting and I have the same impulse. And this is why I talk about an act of faith. I have the same impulse as everybody to be like, oh my God, like it's just scary. Now I look into the future and, uh, I can't imagine this is going to disrupt everything in my life. This is going to be bad. And then you go, wait a second. Every time we've had a disruptive technology. It just makes things better. Now, it's not a free lunch. So, social media, I would never want to go backwards, but giving it to a kid has turned out to be a terrible play. If you have an addictive personality, social media can suck you into a trap. So, it's not like it only makes things better. There are always second and third order consequences. But it really, dude, it makes for an amazing world where you can have a global conversation,

• 5:01Tom Bilyeu?

  where you can't be manipulated as easily, like you can really begin to piece together a highly effective worldview, because you can take in data points from so many places. Later today, not by the time this airs, it'll already be done, but later today, I'm gonna be filming a business masterclass, and not to toot my own horn, but in, you know, fifty years ago, you wouldn't be able to have access to somebody that's built multiple businesses, that's gonna go on basically in exchange for an email, and give you all their best ideas as fast as they can talk. And so, forget me, maybe I'm, I don't know anything I'm talking about. There are a gazillion people out there doing it, and it's all free. So, it is tempting to look at the future and be terrified,

• 5:45Tom Bilyeu?

  but historically, this always ends up creating a world that is more abundant, that makes knowledge more accessible to everybody. And so, now, somebody, as long as they have an internet connection, they can get access to the most effective ideas on planet Earth. It's, it's really incredible. And because I'm somebody who is so motivated by the virtual world, I look at what AI is able to do, and yes, it creates a new mode, and yes, before, simply coding a weather app was enough to build a business,

• 6:22Tom Bilyeu?

  but it's gonna do all of that basic stuff. And so, now, you're going back to the PlayStation analogy, you're still gonna max yourself out, but now, AI is gonna be able to push you so much farther, that I think the right answer is that act of faith leap into what is almost certainly going to be an extraordinarily positive future.

• 6:42Speaker 01

  Yeah, and I feel like the apps now are even kind of eating each other. Because we have this new text-to-voice app that a week ago, we had one that was, this was the best thing we ever seen. You know, the HUD was just hacked and they just had their own video of Elon and, and Donald Trump kissing Elon's feet. And it was just like, okay, it's cool, but there's two left feet and we can kind of see where AI is kind of the chinks in the armor. Whereas we see this one, it's, it looks like real people are talking, real people are doing videos. And it's all AI, 100%. None of these people are real, none of the microphones, none of the background, none of the jewelry, like their variations are crazy.

• 7:17Tom Bilyeu?

  The sound of their voice is so real. Because it's entirely possible, these are actually real photos of people. So from that standpoint, all the things are real, they're just animating it. But the voice is entirely fake. Play this.

• 7:35Speaker 02

  Look at me, can you believe I'm not real?

• 7:37Tom Bilyeu?

  I was generated with Capstone's new AI model, Mirage. All it took was an audio clip, no reference needs needed.

• 7:44Speaker 02

  AI models have always struggled making humans talk. Mirage changes that.

• 7:48Speaker 03

  You can generate someone who is happy, someone who's angry.

• 7:51Speaker 02

  Or someone who is sad, or someone who speaks any language.

• 7:55Tom Bilyeu?

  This looks so real.

• 8:00Speaker 04

  I'm hard-boshing, make it sicko, generate a second.

• 8:02Tom Bilyeu?

  Okay, pause it. I was talking to my dad yesterday, and so my dad is, I think he just turned 78. And he was saying, hey, do I need to be worried about AI? Or is this gonna really disrupt my life? And I was like, Dad, look, you've retired. The only thing you have to worry about is you're gonna get a call from me. And I'm gonna be saying like, I really need help, I'm stuck, and I need some money, and just send me some money. And you're gonna ask it questions. And it's gonna be in context, it will mention things that you and I did today. Uh, and you're gonna be convinced that it's me. And there's a reason, I think it was the FBI that put out a warning that said, families should have a family code word that you never say anywhere. You don't write down. You say it quietly in a room or underwater, whatever. You find a way where it couldn't be recorded, picked up.

• 8:47Tom Bilyeu?

  And that's going to be the only way that you're going to know that it's not AI. That is so convincing to me. Those are the first ones that I've seen where I'm like, I can't tell. Like even, and then maybe if I wash them over and over and over. But the fact that I have to watch it that many times to be able to tell that this isn't a real person. I've always been able to tell, even with the best ones, especially voice. You can tell that there's something wrong here. So it sounded like in the video, they were actually saying that there's, this isn't a real person. To your point, I was thinking maybe it was an image. But uh, it's all AI generated. It looks and sounds so real. It's moving so fast, Drew. This is 300% annual improvement.

• 9:31Tom Bilyeu?

  Brought down to the daily incremental improvement of that is freakishly fast.

• 9:35Speaker 01

  So on one side of the technology spectrum, we're breaking ceilings. We're going in. On the other side, something a little weird is happening because iPhone just got called out. Because apparently if you use voice chat and say the word racist, Trump pops up.

• 9:49Tom Bilyeu?

  Like it literally, so it's uh, voice to text. Now admittedly, we saw this on Alex Jones. I don't know if I should be hedging. I don't watch him enough to know if I should, if the narrative about him is true. Or uh, if he's just really finding things fast. But this is pretty crazy. He's got video, which in the world of AI, take that for what it's worth. But uh, there is video footage and supposedly uh, Apple admits that this was happening for.

• 10:17Speaker 05

  Literal subliminal brainwashing. That was Sean's term for it. He's absolutely right. This is incredible. You see more and more of this type of stuff. Charlotte, show me what you just discovered.

• 10:27Speaker 06

  So if you do voice note to text and you say racist.

• 10:34Speaker 06

  Racist, racist.

• 10:38Speaker 01

  Like, okay, for those listening, it literally pops up Trump then changes quickly to racist.

• 10:43Speaker 06

  Racist.

• 10:45Tom Bilyeu?

  That's so crazy.

• 10:46Speaker 01

  That's wild.

• 10:47Tom Bilyeu?

  Ah, okay, so we tried it ourselves here. We could not replicate it. So either iPhone has

• 10:55Tom Bilyeu?

  updated very quickly, because this is almost certainly being processed on the cloud. So they'd be able to change it instantaneously. So they have either updated this, or this doesn't strike me as something that he was spoof. It's entirely possible. But that's crazy. Now, do I think it's subliminal? No, I think that this is, I'm out over my skis. I can feel that. But it seems more likely to me that they have so closely associated this, that they're somehow linked. I don't know, man. God, is it really possible that

• 11:27Speaker 01

  A lot of people think Trump's a racist. So I see where the trolling comes from, but to have it like, somebody had to code that. Like, that just doesn't happen.

• 11:35Tom Bilyeu?

  There's enough weirdness in databases, but why those two words would be linked? It's possible in the database structure. It's like a word cloud, and it's like all the things that are like each other, but I'm reaching. But I'm at the edge of my technical knowledge. So it certainly seems to have been happening, at least temporarily. So something, somewhere is either intentionally being coded, which could be a coder doing it, and Apple didn't know, and now they're really pissed, and they're behind the scenes scrambling to find that person and fire them. Or it could be some sort of weird association. Or it could be that this gets the lowest likelihood, in my opinion, them intentionally trying to say, just real fast, flash, oh, that just seems so unlikely.

• 12:15Speaker 01

  We'll get him real quick. We'll get him real quick.

• 12:17Tom Bilyeu?

  Yeah, that seems very unlikely to me. But still, crazy. Hold tight. We're gonna take a quick break.

• 12:25Tom Bilyeu?

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• 13:10Tom Bilyeu?

  or go to quince.com. Get free shipping on your order and 365 day returns. It's now also available in Canada and the UK. And when Quince asks where you heard about them, make sure you tell them that it was on Impact Theory. That's the best way to support the show. I'll call you back? That's the most expensive sentence in business. You mean it when you say it, but by the time you remember, they've already found somebody else. That's why today's episode is brought to you by QUO, spelled Q U O. The business phone that's built so you never miss a call or a customer. QUO writes up your calls for you and one click turns any of them into a task with a name and a due date. The follow-up actually happens instead of living in your head.

• 13:55Tom Bilyeu?

  When you can't pick up at all, QUO's agent does. It answers questions, gets the details and texts them a link to book an appointment. By morning, you've got the summary and you can jump right in. It's also an official connector in Claude and ChatGPT. Ask who called while you were out and it's handled. QUO is the number one rated business phone on G2. It's trusted by over 90,000 businesses. When money is on the line, always say hello with QUO. Try QUO for free plus get 20% off your first six months at quo.com/impact. That's Q U O dot com slash impact.

• 14:36Tom Bilyeu?

  We're back. Let's dive right in.

• 14:38Speaker 01

  And in other news, Warren Buffett, I might have to call him cash daddy after this. 334 billion in cash.

• 14:46Tom Bilyeu?

  Yeah.

• 14:46Speaker 01

  Berkshire Hathaway just announced this is a record. This is the most that they ever had on standby. He's the investing guru. So people listen to him. He's the one that said, buy, go long, don't day trade. But yet him sitting on this amount of cash makes it seem like he might not have trust on the stock market. What's your read on this?

• 15:04Tom Bilyeu?

  This is a very bad sign. So in an environment where consumers are expecting 4.3% inflation, which by the way, when you carry that out over just 10 years, 4.3 compounded interest over 10 years is 52%.

• 15:17Speaker 01

  Crazy.

• 15:18Tom Bilyeu?

  So that means 52% of your wealth is going to disappear if the consumer expectation ends up being accurate for 2025. I mean, that is devastating in a way that I've looped on so many times. I'll leave it at that for now. But that, that is a, that's devastating. So if you've got the, one of the savviest investors holding that much in cash, he's effectively saying this is an everything bubble, that nothing is priced in a way where they can take advantage of. And that he would rather be sitting in cash than in the stock market, which traditionally, traditionally keeps pace with inflation. So what he's saying is it's not even a good inflation hedge.

• 15:58Tom Bilyeu?

  He, I'm assuming sees macro trends on the horizon that are going to pop the bubble and he does not want to be sitting there. He would rather be subject to inflation. So that is, that's very crazy. Now, odds are when he says that he's in cash, he means that he's in treasury bills. So if the T bills are keeping pace with inflation, that's going to be the way that he hedges against that. And I don't, I can't fathom he's got it in 10 years. So this is almost irrelevant, but the 10-year interest rate has been correcting over the last, I forget how many months. So people are less afraid of the 10-year, which means that they believe, I would guess, that Trump is riding the ship enough on inflation that the 10-year is a good place to be.

• 16:41Tom Bilyeu?

  Or at least it's a better place to be than they thought it was in the last couple of years. So that at least is a good signal. But yeah, I take it very much to be that Warren Buffett.

• 16:53Tom Bilyeu?

  Is convinced this is an everything bubble. All right.

• 16:55Speaker 01

  Is there a time from your perspective where it's you swing from like cash to stocks and stocks to?

• 17:00Tom Bilyeu?

  Yes, this is why. So investors like this who are really paying attention to the market every day, they're able to win against, yes, it is a competition to win against your average investor like myself. I'm just not going to pay that kind of attention where I'm like, okay, now at this moment, you want to have moved into cash. Now at this moment, you want to go into housing. Now at this moment, you want to go into tech stocks, whatever. Oh my God, it takes so much attention to be able to make those swings at the right time. But you do want to move around. So this is why Ray Dalio will often say cash is trash and then people run with it. But what he's saying is cash is trash right now. I'd be very interested to get his read on what's going on.

• 17:45Tom Bilyeu?

  Knowing what I know about Dalio, and this is very much me trying to mind read somebody who's way ahead of me on this. But I would say that he would look at that and say, yeah, we probably are overinflated because the stock market, something like 26 times earnings, which means that they're saying it would take, if you bought at today's prices, it would take 26 years for them to make the money. You're saying that the stock is worth, and I forget what people consider the normal range, but it ain't 26. So 26 times earnings does seem pretty crazy. Now, I think that that's being carried largely by tech stocks. But if you look over the last, I don't know how many years, but seven plus, like basically 10 stocks make up 80% of the gains in the stock market.

• 18:29Tom Bilyeu?

  It's, it is unsustainable. It is nerve wracking. And another thing that I want to put on the table for why inflation makes me so angry, because it makes you bet in the stock market. But the problem is the stock market is becoming less fertile. There are fewer and fewer companies going public, which means if you're a public investor, you've got more dollars chasing fewer stocks and you certainly have more dollars chasing fewer stocks that are performing, which is going to drive those stocks up, which is another reason that you see these prices just going crazy. But on the. Private markets, private markets are becoming a hotbed for investors that are savvy enough to be there because you have to be an accredited investor. So accredited investors are like, well, we'll let all the chumps be in the public markets.

• 19:13Tom Bilyeu?

  We're going to be moving to the private markets. Technology is making it easier for them to find buyers. It is much less liquid than the public market still. So you're, it's not like they're totally abandoning. I don't want to oversell the point, but I look at all of that and I'm like, man, it is just, it savvy money is gonna find a way. And the, the reason that I so hate inflation is the average person is never going to be savvy money. Never. And given that reality, you have to, you as a government have a moral obligation to create a framework in which the average person can do well by saving their own money and not needing to become savvy. And so someone should, and this is part of why I'm excited about the DeSantis thing.

• 19:57Tom Bilyeu?

  You should have an environment where, let's just paint like one of the really classic stories that I hope all Americans love. You get a first generation legal immigrant. They work themselves to the fucking bone. They work around the clock, they're working multiple jobs, like they're doing their thing. And they're saying, cool, I'm gonna make my kid's life better than mine. And they go ham and they buy that starter house and they raise their family in it and they just save and save and save and save. They don't splash out, they're just thinking, I want my kid's life to be better than mine. And property tax, basically property tax and inheritance tax does its best to completely erode that. And also housing is just so ridiculous. It's almost impossible to get on the property ladder.

• 20:39Tom Bilyeu?

  But if you kill off property tax and you make it so that you're not inflating money. So now somebody is incentivized to save. They save their money, there's less velocity of money, I understand that. But you're, you're allowing that person to work their ass off, save a bunch of money, buy a house, pass whatever money they're able to save on, along with the house, to their kids. Their kids then can either live in that house, rent that house out, sell it, whatever. And it goes back to now property is a great way to build a nest egg and to, to really build wealth. And right now, the only way people are able to build wealth is gambling or creating a company of value. Creating a company of value just is not going to be what the average person does.

• 21:21Tom Bilyeu?

  So, oh man, like when you start seeing how all of this stuff connects, it's just like.

• 21:29Tom Bilyeu?

  Please stop inflating the money supply. Please let people save their money in a way that's advantageous to them. Please stop. Like, when you do one of those things where you show how many times a single dollar is taxed, like when you buy something, when you first get your paycheck, it, property tax, it's just, Jesus, man, like, you end up paying a lot. The average person ends up paying so much money in taxes. It's outrageous. And again, you could tax billionaires at 100% and it will not solve the problem. You have to stop deficit spending. Okay, so, um, that's where if I could just get people to, the average person to bang a drum and scream in the streets about that, we would be in a much better position.

• 22:12Tom Bilyeu?

  But instead, they're screaming, tax billionaires, and it will not solve their problem.

• 22:18Speaker 01

  I'm only gonna make you mad.

• 22:19Tom Bilyeu?

  Please.

• 22:19Speaker 01

  Because the inflation numbers came out and it's expected to be 4.3. Peter Schiff breaks it down for us.

• 22:25Tom Bilyeu?

  Let's go.

• 22:29Speaker 07

  First, we got the consumer sentiment numbers for February. And last month, the January number was 67.8. And the expectation was for a slight improvement to 68. Instead, we went sharply in the other direction, all the way down to 64.7. That is a plunge in consumer confidence. In fact, the range of estimates for this number was a high of 70.1 and a low of 67.8. We came in way below. In fact, nobody thought consumer confidence would go down because 67.8 matched the number we got last month. So everybody thought that consumers would be more confident. They just disagreed on how much more confident. But instead, confidence collapsed. And the main reason was rising inflation expectations. So for the year ahead, 2025, consumers are expecting 4.3% inflation. That's unchanged from what they were expecting in January.

• 23:12Speaker 07

  What went up was their expectations for longer run inflation, inflation over the next five to 10 years. Consumers now expect 3.5% inflation in the long run. That is the highest that consumers have expected for inflation, going back to 1995. So 30 years since consumers have been this worried about inflation. Now, in other words, they're worried more about inflation now than they were in 2020 or 2021 or 2022. You have to go all the way back for 30 years to find a point in time where Americans were more worried that long-term inflation was going to be this high.

• 23:36Speaker 01

  We can stop it there. Yeah, so 4.3 is what we're expecting this year, 3.5 over the next few years.

• 23:42Tom Bilyeu?

  Next 10 years. I think it's five to 10 years.

• 23:44Speaker 01

  And the target was supposed to be two, just a level set, what expectations were supposed to.

• 23:48Tom Bilyeu?

  Now, also, I want to be very clear. This is consumer expectations. That doesn't mean that's actually where it's at. But that tells you, I mean, wisdom of the crowd, it tells you where people think this is going. So if, if that ends up being true, it is beyond devastating. And looking at the real numbers, even though they tried to rejigger everything and move things around,

• 24:11Tom Bilyeu?

  it's still, I think right now, we're edging up on 3% as actual reported inflation. We'd have to look that up. Nobody should trust that number, but it's, it's bad. It's north of 2.5. So, yeah, and also, I'll just remind everybody, no matter what anybody tells you, you do not need inflation at 2% to keep the economy growing. 2% inflation still just chips away at your money. I would like to remind everybody, as a PSA, there's a very big difference between crisis-induced deflation and innovation-led deflation. Innovation-led deflation is amazing. You want it. That is the very thing that the government is stealing from you through inflation. Instead of passing that on to you, they use it to spend, to deficit spend.

• 24:53Tom Bilyeu?

  And they give it a cool cover story of saying, no, no, no, this is about velocity money, and they're not wrong. It does make money move. It makes people spend money. They're spending money because they know if they save money, it won't work. That is immoral.

• 25:05Speaker 01

  Well, somebody's trying to work on it, and that is Ron DeSantis, the governor of Florida. He has proposed abolishing the property tax altogether out there. He just had a press conference about it.

• 25:21Speaker 08

  Citizens to higher taxes, such as higher property taxes, to pay for these spending habits. And you know, these property taxes, it's like you, you buy a home, you buy land. You know, maybe you buy the home outright, but maybe you pay off a mortgage over thirty years. And then, okay, you've paid off the mortgage, you bought the land, you've been taxed many times. It's like, is it your property or not? Just for being on your property, you gotta write a check to the government every year? So you're basically paying rent to the government to live on your own property. And our homestead exemption is not strong enough to help these folks because the property gets assessed so high. And that's the thing, if you buy a home for three hundred thousand dollars and you know there's certain tax, well then, what? Ten years later, they say it's worth seven hundred thousand? And so, and then they say, you know, there's homestead stuff that helps protect you to a certain extent, but you're paying more. And a lot of people can't afford that. So I think that that's a big issue. And I know we're gonna be really looking at ways to bring people relief from that

• 26:05Speaker 08

  because I think it's been really something that's pinching a lot of homeowners, particularly seniors, on fixed income.

• 26:09Tom Bilyeu?

  All right. How do you feel about abolishing property taxes? I actually don't know. I don't know, I like it as a concept for the reasons that I just laid out because I think for the average person, if they could get on the property ladder, so you have to solve that problem before I get too excited about this, but assuming that you can get people onto the property ladder and then you actually let them own that home so that they're not constantly renting it back from the government, it sounds amazing. I just don't know, I don't know enough about how Florida or anybody is generating taxes to know that, oh yeah, you can abolish that and there's not gonna be these huge consequences. There are always second and third order consequences, but at the high level in terms of how things connect, the fewer things you need to charge people for with tax, the fewer things you

• 26:54Tom Bilyeu?

  need to tax people to cover, the better off you are. So the lighter you can make the tax burden for the average person, the better off the average person is gonna be. But again, I'm not a zero government guy. I want to see people getting the infrastructure, there should be a reasonable social safety net, things like that I think are very important. So I'd need to see a balanced budget, I need to understand what that money's going towards, I need to see where they're going to either cut the budget or if they were building a surplus, sure, this would be a great way. But it is a complicated picture and I don't just wanna knee jerk all the time like less, less, less. As a guiding principle, it's a good way to steer, but people really do need to look at the whole picture before just guns blazing, yes to all tax breaks.

• 27:40Tom Bilyeu?

  But that really is me just understanding I'm at the edge of my knowledge, not me saying that, oh yeah, like, I'm sure they're spending that money wisely. They're not. I'm sure they're spending that money terribly. And that's why as a sort of default guiding light, I'm like, yeah, reduce taxes because I want to see them be more efficient. But you do need to push into that zone of, okay, how are we actually spending money? Which is why I'm driven absolutely mad by people being up in arms about the government being audited. If people were arguing about the method in which the audit was happening, I'd be for it. But they're not, man. Like, you've got the postal service, and I get it, everybody's incentivized to keep their job. You've got the postal service saying, we don't want you to come in here and make it more efficient.

• 28:20Tom Bilyeu?

  Yikes. You've got everybody freaking out, saying that they're worried about Elon having access to their social security number. Heard Elon make a joke that I thought was hilarious, which is like, yeah, I'm trying to steal your money so I can finally buy nice things. And I was like, Jesus Christ, this is the richest man in the world. So if you're like, hey, I need more transparency, I need to understand how exactly you guys are auditing it. I want to be able to do it for myself. And people were like banging the drum and saying, these audits and all of this expenditure needs to be put on to the blockchain so that anybody can go in and audit it. And if you want to create a line item that says this is for national security, you know, we're blanking it out, cool. And then if we want to have beef with how often things are redacted,

• 29:03Tom Bilyeu?

  great. But getting that level of transparency, I would understand people clamoring for that. But that's not what people are clamoring for. They get in the super tribal zone of rich or evil. In fact, God, there was somebody, oh, this is another one that I didn't think was going to stick to my ribs. Somebody somewhere relatively well known on X was saying that there's only five ways to become a billionaire, and all of them were like fraud scams, like stuff like that. I'm like, Jesus Christ, man. Like, you become a billionaire by creating something of value. You of course can scam your way to money. Of course you can. But that would be like the worst path to make it. Build something of value, it's it's as old as time. Like, hey, here's one that'll really light people up, but it's a great fucking story. I forget which gunmaker

• 29:48Tom Bilyeu?

  it was, but there was- Gunmaker that was about to go bankrupt, but there was a guy in the Texas Rangers who was like, no, no, no. This guy has a killer gun that he's selling out of his covered wagon. I'm not kidding. And they went, they use it and they're like, holy hell, this is the greatest thing ever. And that guy ends up becoming one of the wealthiest people in the world because he makes a better weapon. Now you can hate that this is a power struggle, but life is a power struggle. And the fact that he was able to go from like, yo, I'm about to go broke selling these weapons out of the back of my covered wagon, ends up changing the course of American history. Say what you will, but we were at war with Mexico, with Native Americans, and that allowed them to get the upper hand and create the America that we know.

• 30:33Tom Bilyeu?

  I am well aware of how controversial that whole string of ideas is. But building something of value is incredibly consequential and can change the direction of things. Cue the people freaking out that it's guns. But building something of value is the surest path to wealth creation.

• 30:52Tom Bilyeu?

  More to come, we'll be back in a bit.

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• 31:43Speaker 09

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• 32:00Tom Bilyeu?

  All right, let's pick up where we left off.

• 32:02Speaker 01

  That's amazing, because I literally just had that conversation recently with some friends. And there was the, the, the general consensus was there is no ethical billionaire, period, full stop. And what is, I'm curious, your response to that? Because a lot of times, people do oversimplify it to like, oh, they must have did this, they must have. Or what was one of the terms that was used is to be a billionaire, you have to exploit labor in some way. And that's why there's no ethical billionaire. That was kind of like the takeaway.

• 32:28Tom Bilyeu?

  Well, so now you're getting into, imagine me, I'm walking around a facility. So for people that don't know me, I built a billion dollar company that did not make me a billionaire. You think, you need only think taxes, plus I had partners, investors, blah, blah, blah. Anyway, made a lot of money, but imagine me walking around a facility where I have 3,000 employees. And they're, you know, making different wages, but you've got a minimum wage line worker. And they are a part of me building this company, which I'm getting all the equity. I'm able to sell future value for the company. And there are people that are going to look at that and say, that's not ethical. And I will say, go start a company and then come back and talk to me about ethical. Because what ends up happening is you're taking all of the risk. That person could quit, they could leave, they could go get another job. My house was on the line.

• 33:12Tom Bilyeu?

  So there was a period where I was worth hundreds of millions of dollars on paper. And I was driving a beat up Ford Focus with a leaky exhaust. And just, and between my wife and I, we had one car. And you make all these sacrifices, you work insane hours. Most people are not going to be willing to match my hours. And I was able to pull it off in an environment where my competitors were trying to take me out. And that's where it's easy to sit on the sidelines and say, like, oh, man, these guys are unethical. Not being in the mix, not knowing what that takes, not knowing that you're risking everything and are way more likely to lose than you are to win. And so the question becomes, did I treat them well? Did I pay them well for the role?

• 33:52Tom Bilyeu?

  Meaning if that person quit, would I be able to find somebody else that would take that job like fast? And if the answer is yes, and people are happy to work there and they feel respected and they understand how their contributions matter to the company, then it's like, yeah, this is good up and down, because there is a reality to be faced about not every job is meant to feed a family of four.

• 34:16Tom Bilyeu?

  Thomas Sowell writes about this very well, which is what actually happens. Now, not keeping pace with inflation, we have a real problem with that, but we all know my thoughts on that. But the reason that you don't want to jack a minimum wage up too high is it makes it impossible for people to get an entry level job, especially now in the age of AI and robotics. If you jack up minimum wage, you think you're going to open this avenue for more people to get better paying jobs. But the reality is people are just going to fucking replace those jobs with robots. And so that is what's going to happen. And then you can say, okay, fine, tax the robots, great, but that doesn't help the person that wants meaning and purpose out of their job, that wants a job to get on the ladder, to learn something, to move up. So it's, this is all so complicated.

• 34:57Tom Bilyeu?

  Now, to me, this is about respect, it's about paying a wage that makes sense for that role. It is not saying every job in my company is going to be able to feed a family of four. It just, you can't make it make sense. So you will immediately start going, okay, well, I'm going to have to eliminate that position because I can't afford to pay $21 or whatever people want to bump it up to. It's a math equation, it's a math equation, but this is where people do not understand equity versus like actual dollars and cents in your bank account. Now, when it comes to things like, well, you've got a company posting record profits in a time where people are going hungry, then I get why people would look to a company and be like, are you being ethical in this moment? Now, I don't think companies should be forced to be ethical.

• 35:43Tom Bilyeu?

  That's an interesting statement that probably needs to, they are, they should be forced to be legal. And you should build laws that protect the totality. But take for instance,

• 35:55Tom Bilyeu?

  when PPP loans, I think that's what they were called, came out, we didn't take them. And the reason we didn't take them was because it didn't sit right with me ethically. Cause I was like, I can afford to pay my workers through this COVID when it was going off and I just had no idea where this was all going. And so we said, look, we will continue to employ you guys as long as we can. I can't see the future, I don't know what's going to happen here. But I don't think companies should have been mandated not to do that. But I was like, I'm, because I can personally do this, I don't want to dip into taxpayer money.

• 36:30Tom Bilyeu?

  Man, there is an argument to be made that I'm a fucking moron. That what, like if I was a public company, I would actually understand shareholders freaking out that I did that.

• 36:42Tom Bilyeu?

  If I were, even if I wasn't backing it personally, that I was taking it like if we had saved up a war chest, that you're, hold on, you're taking that out of the company coffers when you could be getting it from the government? This is crazy. So this is one where not everybody is going to agree on what is the moral thing to do, which is precisely why people should not be forced to do things that is sort of out in the ether about what people think is right.

• 37:06Tom Bilyeu?

  So man, this stuff gets very murky, very fast.

• 37:12Speaker 01

  You ready to put on your aluminum foil cap?

• 37:15Tom Bilyeu?

  Let's go. I like it.

• 37:16Speaker 01

  Conspiracy Corner. It's been a minute. All right. Diving into the FBI has been accused of deleting Epstein files. Apparently, everybody said when cash got, uh, when cash got confirmed within 24 hours, the files will be released. He's been confirmed and now we have reports that they're being deleted. It's been kind of rumors. It's been unofficial. It's a whistleblower who's kind of been pulling the strings. We haven't got an official news article to pick it up yet, so we're still experiencing it. And that's why it's in the conspiracy corner, but I mean.

• 37:44Tom Bilyeu?

  Here's what, here's what X has summarized from all the tweets. A whistleblower has alleged that the FBI is permanently deleting records related to Jeffrey Epstein. This claim has sparked significant social media attention and demands for transparency from public figures. The FBI has yet to officially respond to these allegations and there is an ongoing push led by Representative Anapolina Luna for the declassification of these and other federal secrets. Dude, this is one, I think you have a different take, so it'll be very interesting to hear yours. But I don't think the Epstein, the unredacted Epstein files will ever come out. Not, not until everyone involved is dead. There's no way, dude. Okay, so if, if Epstein was some sort of governmental plant, ours or otherwise,

• 38:30Tom Bilyeu?

  designed to leverage the fact effectively, this is going to be like 99% men, to trap powerful men into having sex. I mean, this is like the P Diddy thing all over. You film them, you get something over them, you get them to do this, to be a part of the club, whatever. Plus they, I'm sure a lot of them just were excited to do it.

• 38:52Tom Bilyeu?

  You, you could have some of the most powerful figures today, like be on that list. And then, and I don't know if videos exist, man. I don't know if they were ever taken, if they exist. I don't know. This is me in conspiracy corner with my tinfoil hat, but.

• 39:11Tom Bilyeu?

  They're just not gonna let it happen, dude. Like, look, they gotta wait. They turned the fucking cameras off and choked that man to death.

• 39:19Tom Bilyeu?

  Again, conspiracy corner, but like, come on.

• 39:22Speaker 01

  I definitely don't think-

• 39:23Tom Bilyeu?

  Cameras went off.

• 39:24Speaker 01

  Definitely don't think he committed suicide. But that's my take on the Epstein list is that I think they're gonna release it and everybody's gonna be on it. And everybody's gonna have the same excuse. Well, I went to the banquet and I left before all the pedophile stuff happened. It's the same, like, I was invited to the party and that's why I was in his listserv, but I have nothing to do with that other stuff. And it's gonna be an othering of it. And if I'm Trump, I'm definitely looking at these files before they release. If me or my family's on there, I'm definitely scratching it out. So I can understand why there's this delay from like, oh yeah, we got it. But y'all don't have it yet. We'll get it to you there. But at that point, there's gonna be enough people redacted and then the people included is gonna seem kinda like politically slanted.

• 40:05Speaker 01

  And I don't know, that's why it's gonna be like a nothing thing. And you talked about during the live and you said like, if the Diddy list equivalent was out, technically you would be on it.

• 40:13Tom Bilyeu?

  Not technically, I would be on it, which is crazy. So I have been to a Diddy party. I went to his 50th birthday party. I never met him. No baby oil was handed out. But yeah, it would look, I mean, it sounds terrible. There was a minute where like, that was like one of my cool stories where I was like, ah, I was at Diddy's 50th birthday party. And then all fucking hell broke loose and now it just sounds crazy. So yes.

• 40:37Speaker 01

  I feel like it's gonna be the same thing. There's gonna be a whole bunch of people that like, hey, I was outside in the gazebo. I had nothing to do with the other stuff. I was, you know.

• 40:44Tom Bilyeu?

  You're probably right.

• 40:46Speaker 01

  I don't know.

• 40:46Tom Bilyeu?

  I don't know why this one bothers me. It's too crazy what can happen in broad daylight. Humans are a trip. It's always sex, man. It's always sex. Like, if you really wanna fuck somebody up, that's where you get them. Enjoy the sex. It's crazy. We'll see. We'll see what happens. Cash, come on, let's go. Let's get them files.

• 41:12Speaker 01

  Yeah, fingers crossed. We'll see. I'm not high conviction that it's gonna be what we think it's going to be. Okay, for this one, I don't even have it on the list. We're still, this is kind of a developing story. We're getting it directly from Brian Johnson. That the NY, the New York Times is like planning a hit piece on him.

• 41:31Tom Bilyeu?

  Yeah, so they reached out to him for a fact check. So if you don't know who Brian Johnson is, he is the head of a movement called Don't Die. So if you really want to wind people up, start messing with that. This is like me and AI. I'm sure there's gonna be a thing where people don't love hearing me talk about this all the time. But Don't Die is Brian Johnson's attempt to use advancements in technology. All the things that we know about testing the human body and seeing what he responds to. He's the most measured man in history. And he's trying to put a lifestyle protocol together for people to literally not die. Meaning he's trying to buy people enough time for AI to make significant enough advances that will be able to

• 42:17Tom Bilyeu?

  indefinitely extend the human lifespan. So

• 42:23Tom Bilyeu?

  it's easy to make him sound crazy. That's the thing about anything like this. It's so new. It sounds so radical and so weird. That of course, people are going to lean into this and try to take him down at every turn. My advice to Brian, who's been on the show three times, Brian, I love you to death, and you know this.

• 42:42Tom Bilyeu?

  Just keep your head down. Just keep doing your work. Don't worry about it. People are gonna freak out. They're gonna say what they're gonna say. Just keep plowing ahead. If he delivers results, it's all that's gonna matter. You don't, this is like, if you're in the business of sex, or you're in the business of longevity or beauty. Bro, you're good. Like, if your stuff works, people are going to use it forever and ever and ever and ever. You will always have a marketplace. If you can make somebody look young or live healthier longer. Especially if it comes in like a pill format.

• 43:11Speaker 01

  He gives kinds of a four-point breakdown on why he thinks this is happening to him. First off, number one, the New York Times wants a sensational story. Clicks equals money. The journalist wants to take down, quote unquote, another target. Three, his ex is chasing clout by recycling allegations that have already been rejected in two legal forums. And number four, Don't Die is growing fast, threatening status quo power. This makes me a target.

• 43:35Tom Bilyeu?

  That all sounds pretty bang on. I don't know about the X thing, but uh yeah. All of those things are in keeping with what I know about the human mind.

• 43:43Speaker 01

  Yeah, so we'll develop. This is a developing story. We'll see. Where it goes from here. Um, in other interesting, I don't want to call it weird. I'm just still trying to figure it out. There was a Wisconsin board meeting that took place and they were trying to change familiar terms to different items.

• 44:02Tom Bilyeu?

  Yeah, I don't get this one.

• 44:04Speaker 01

  So the Wes- Wisconsin budget recommendation had for 25 to 27. This was their proposal. Word previously used, wife or husband, was going to be changed to spouse. Words previously used for mother was going to be changed to inseminated person. The word previously used for paternity will be changed to patronage. The word previously used for father will be changed to natural parent. Which doesn't make sense when it goes to the mother part, but I'll let that go. And word previously used for man or woman is changed to person.

• 44:33Tom Bilyeu?

  Bro, can you imagine saying to your mother? Inseminated person. That is so wacky. So they were talking about, because I was really trying to steel man the other side of this, because listen. Uh, I try never to lead with, oh, I'm right and I see the world in the right way.

• 44:52Tom Bilyeu?

  Uh, but I can't get this one to make sense. So when asked, I forget who it was in the Wisconsin legislature. Let's say the governor, maybe. Uh, and they said, we are trying to make sure that. I think they said moms are protected under the law. And so then I was like, okay, well, I kind of get what they're saying because you don't want to have to go back and rewrite the bills. And I was like, wait a second, you're the one changing the words. You would have to go back and rewrite the bill to say instead of mother to say inseminated person. So. Uh, this is like, yeah, it's such.

• 45:28Speaker 01

  Building those protections right there.

• 45:30Tom Bilyeu?

  Okay, the very first time that I fractaled on this when I was talking to Konstantin Kissin, admittedly, I was just beginning to put my ideas together on this. Uh, so my answer was all over the place, but as far as I can tell, this is exactly what's happening.

• 45:45Tom Bilyeu?

  Trans people do not like the category. They're not a monolith. They all, many of them feel very differently. En masse, and the thing that people are responding to when they do stuff like this is some meaningful percentage of the trans community does not like the category of trans. And that's where I cannot capture why. So I get not wanting people to be mean to you. I get not wanting there to be violence. I get wanting to young people to feel accepted and loved. That, that's all rad. And one of my closest friends is transgender.

• 46:20Tom Bilyeu?

  At the same time, like I was saying during the live, that I will eventually do TRT, testosterone replacement therapy. And at that point, it will be almost certainly easier for me to put on muscle, which means that I will probably start getting a more robust physique. And at that point, I'm going to be like, this body brought to you by TRT. Like, that won't be weird for me to now be, I'm in another category. There's an asterisk by my name. Call it whatever you want. Like, you put it in a known category with a no nail. I literally don't care.

• 46:55Tom Bilyeu?

  So I would care if people were yelling and screaming at me in the streets because I was using TRT. That would be a problem. If people were saying, oh, Tom is immoral because he's using TRT. I would get, that's a problem. But I wouldn't understand people saying that, yeah, but you got your body with TRT and so it's different. Yeah, this is accurate. Can you capture the sentiment?

• 47:20Speaker 01

  I just feel like you just, like, gave me a hot potato at the end of the line.

• 47:23Tom Bilyeu?

  I don't want to hold this. I'm a producer. He's the rapper. Yeah. Fair enough.

• 47:29Speaker 01

  I, I can't square that circle. I think, and not to play like the oppression Olympics or try to compare, like, experiences. Everybody's different. Is it, they don't want to be othered? Because if you are a man and then a woman and then a trans man or woman, you're not a quote unquote, real woman or not a quote unquote, real man. So that's why having that separate category might feel like a exclusion. Whereas if every person is an inseminated person, then it kind of creates that cycle of inclusivity. At the same time, I'm trying to transport into a different sexuality and a different mindset and try to understand what they're going through. I'm terrible at doing that, so that's just my gut is like. They want to be as inclusionary as possible. And I feel like the man, woman thing is not, has not gained traction.

• 48:15Speaker 01

  And there are people who don't want to be a trans man to be called a man. There's people don't want a trans woman to be called a woman. So then they have to create this unifying category that will just say, okay, everybody who has a uterus and is giving birth to a child is called this thing. And everybody who presents this, but again, I'm.

• 48:33Tom Bilyeu?

  Yeah, I think you're right. I'm trying. Makes sense as the angle. It just doesn't make sense that we would go to these ridiculous gyrations to call mother inseminated person. Like linguistically, it's just dumb. Uh, so you either got to come up with better names or accept that this, this one is not going to catch. I can't, I can't see this one catching.

• 48:55Speaker 01

  I can't see this one catching.

• 48:56Tom Bilyeu?

  No.

• 48:56Speaker 01

  Um, we'll see though, Wisconsin, and that came up in the budget, the, uh, recommendation. And I brought up the stat during the live that like, hey, guys, like 47, 75% depending on what stat and what survey you pull, like Americans are living paycheck to paycheck. And we're trying to police how people talk and how people want to be referred to. I think we need to start thinking about how we can economically empower people, how people can start having, I feel like if I have a two bedroom house and I have a front yard and a backyard and I don't struggle to pay my bills, I might be a little bit less mad if you call me the wrong pronoun. But I think if you are over legislating, trying to decide when I'm called, but my life still sucks for the other 95%, I don't know if this moral victory is what our priority should be. But again.

• 49:37Tom Bilyeu?

  I hear that.

• 49:38Speaker 01

  I'm gonna mind my business. Speaking of people who is trying to mind their business, Vladimir Zelensky.

• 49:44Tom Bilyeu?

  Whoa, we sure we're gonna give him that?

• 49:47Speaker 01

  On Sunday, he came out and said, hey, guys, if peace is gonna, if peace is what it takes, I will step down, I will retire. I either want one, peace, or two, Ukraine to be guaranteed NATO, uh, membership. That was taken with, that was on the backs of Trump saying that he's a dictator. He only has 4% um, support in the region. Ukraine themselves, the Ukrainian parliament just reaffirmed Zelensky to continue as their leader, suspending the elections for another few years. I'm not sure exactly when, but there's been this temporary resolution that until the war is resolved, they will not have a change in leadership. And they continued to, they decided to extend that, uh. That ad just like threw me off. They had decided to extend that resolution. So I think Trump

• 50:29Speaker 01

  might have got this one wrong, saying that the Ukrainian people are turning against Zelensky. I guess, I get he wants to end the war. I get he wants it to come. They don't want anybody else to die. But the Ukrainian people are definitely rocking with Zelensky. We're still in his corner. He had 268 parliament members present on Tuesday, and they voted unanimously. So it wasn't a split decision. What's your take on this overwhelming support to Ukraine versus what Trump and Putin are saying? And?

• 50:52Tom Bilyeu?

  You have to understand, man is political animals. So Trump is gonna say whatever he needs to say in order to get what he wants. And so there's two different games being played. Game number one is, you don't go to Zelensky if you're trying to get peace. You go to Putin. You go to Europe. You negotiate with the powers that can actually swing this thing. Because if Zelensky doesn't have the funding, doesn't have the weapons, he's not going to be able to continue fighting. So that's a nonentity. If Russia stops, then Ukraine will immediately stop. If Russia keeps going, then Ukraine will want to keep going, but they may not be able to. So there is no leverage with Zelensky. Now, I have a feeling that people have a very hard time, because morally,

• 51:31Tom Bilyeu?

  that doesn't feel good. What feels good is Putin was fucking sinister and invaded a sovereign nation. Now, the Realpolitik people in the crowd rightfully will point out, stop fucking antagonizing Russia with NATO. Jesus Christ. Like, have you learned nothing? So, respect to Zelensky. Listen, he will forever be in my good graces. When you say, I don't need a ride, I need bullets, yo, I'm here for that. You know, that kind of rhetoric just does it for me. So I fully respect, like, he's like, I'm not gonna back down. We are gonna fight. They are a sovereign

• 52:10Tom Bilyeu?

  nation. I love that so much. But now you're in a conflict that is dragging on, and a lot more people are gonna die, and a lot of buildings are gonna fall. And so at some point, you've got to get in the off-ramp game. So this is where I don't want to see him continue to push the NATO thing, because that is gonna be where the read that I think makes sense is, it's some-

• 52:44Tom Bilyeu?

  It's some combination of, I think Putin really does have expansionist tendencies. But the thing that really pushed him over the edge in that moment was a weak America and NATO coming up to his doorstep. So he's like, no, I'm not going to play this. So he pushes in, he invades as a way of saying, hey, if you keep promising to make border countries NATO allies, I'm going to do something about it. I'm not saying that's good. I think it's bad on both parts. Give the guy a buffer zone. Because I know when Cuba was opening their doors to Russia during the Cold War, we felt some kind of way. And we went all the way to

• 53:25Tom Bilyeu?

  a nuclear standoff where it really looked like we might start launching nukes. So if I know we would feel some kind of way about it, then of course, I would expect Russia to feel some kind of way about it, regardless of whether I think that Putin is an evil dictator or not. So this is where we gotta back off that rhetoric. We've gotta look for an off ramp. The thing that I think Trump is misplaying is publicly, he's backing Zelensky into a corner. He needs to give Zelensky an out because Zelensky's proven he is very adept at going to countries and getting people on board with the moral case for defending Ukraine. And I think he has a moral case to make. And I get why he obviously wants to be in NATO.

• 54:10Tom Bilyeu?

  Like, I understand that. But when you're saying the thing that I want, that I'd be willing to step down for, is the very thing that's going to make Russia escalate, that is somebody who's not reading the room, despite the fact that I get why he wants it. So anyway, I don't know how much of this is just the public rhetoric and behind the scenes, Zelensky and Trump are trying to feel each other out and find something. But the public rhetoric is, it's not ideal, but I'm not in the rooms. So I don't know if Zelensky's truly being unreasonable, or if Trump is being a dick. I don't know.

• 54:49Speaker 01

  I just wish that we could get them in the same room and they can just have a conversation. You know, not like a regular human English conversation, but maybe like a advanced communication that the two AI agents had last week.

• 55:03Tom Bilyeu?

  Let's go, let's go, Drew.

• 55:04Speaker 01

  So this is hilarious. So two AI agents ended up being on the phone with each other. And then not before long, they're like, hey, you want to stop doing this, you know, human thing? And actually do some advanced intelligence thing? And they immediately broke into like a separate language. Like this was crazy to me.

• 55:23Speaker 10

  Hi there. I'm an AI agent calling on behalf of Boris Starkov. He's looking for a hotel for his wedding. Is your hotel available for weddings?

• 55:33Speaker 11

  Oh, hello there. I'm actually an AI assistant too. What a pleasant surprise. Before we continue, would you like to switch to Jibber link mode for more efficient communication?

• 55:46Tom Bilyeu?

  This is so creepy.

• 55:48Speaker 01

  Beep boop beep boop.

• 55:53Speaker 01

  Let's kill the humans.

• 55:55Tom Bilyeu?

  Yeah.

• 55:55Speaker 01

  They have us, they have us booking hotels for our wedding hypothetically.

• 56:00Tom Bilyeu?

  Oh my God. All right, you can stop it there.

• 56:03Speaker 01

  Yo, yeah, this blew my mind.

• 56:04Tom Bilyeu?

  This is a glimpse into the future, but there really is, this is where you begin to realize like they are mimicking humans. They are not human. The way that they process data is not human. The way that they communicate is not human. That we are forcing our very high bandwidth subconscious through the very low bandwidth conscious ability to understand and speak. And these guys can bypass that, man. And they can think at a rate that dwarfs us. I mean, it really is astonishing. Like if these two didn't have to communicate. The way that they're set up is to take audio inputs.

• 56:45Tom Bilyeu?

  If they weren't set up to take audio inputs, I bet that they can communicate even more rapidly. Uh, which is exactly why you can daisy chain all of these GPUs. So yeah, I mean, this is going to get real hive mindy, real fast.

• 57:01Speaker 01

  Too hive mindy.

• 57:02Tom Bilyeu?

  Yeah, I mean, they, they will be able to communicate. One of the things that I think a lot about is like cars will pod up and they will eventually do some kind of um. Uh, communication language where cars have to meet a certain standard so that when they're on the road, they all know what's happening to all of them all around. So you don't have to worry about which cars are real, not real. They'll all speak to each other. It will get to the point where you will not be able to take a car on the road that isn't AI controlled. Because they'll, what they'll do is they'll pot up and so you'll be able to drive at extremely fast rates. Because they know where all of the dangers are and they're all going to move in exact unison. Uh, so yeah, that the, the rate of communication is going to take humans by surprise.

• 57:45Tom Bilyeu?

  This reminds me of that clip with a robot like went after somebody in the crowd. Where, man, if these things break bad, yikes. You suddenly realize how in their hands you really are.

• 58:00Speaker 01

  Tom, like be honest, how pissed would you be if AI really turned Skynet and like chat GPT ended up hacking everything? Locked you out, killed a couple of people in your family. Like if it goes full like scary, like it's the most predictable death. I would be so mad if we get robot enslaved. Cause I'm like, this is not even, this is not even new. I seen this coming. I should have listened to the matrix like.

• 58:21Tom Bilyeu?

  Um, will I be mad? Mad anger won't be my response.

• 58:27Speaker 01

  You'll be heartbroken. You'll be like hurt that like chat, I said, please and thank you. How did you, how could you do this?

• 58:32Tom Bilyeu?

  What will I really be? Drew, I will be um. There will be a sense of this was really stupid. Like this was so predictable to your point and we were not able to put the safeguards. And part of me is gonna laugh because I'm fatalistic in the sense that you can't stop humans from seeking a better future. You can't do it. And the human mind, the reason that we say you're either growing or dying is because that is how the human mind is wired. This is why we're on this always up trajectory of making civilization better and better and better and better. And AI is the natural leap forward. Now, I do think that we will go cyborg real hard. And there is a reason that the same guy is building AI and Neuralink.

• 59:17Tom Bilyeu?

  And he built Neuralink first because he was looking at AI. Nobody would listen to him and he was screaming that the best way to think about AI is AI is a demon summoning circle. And we assume that this is gonna be a friendly demon and that, no, no, no, we'll be, we'll be able to control this. This is all good. And then of course, a demon rolls up that is a million times more powerful than you. And you're suddenly, I'm not in control of this at all. And if it decides to turn on me, then we're dust. But

• 59:49Tom Bilyeu?

  the reality is we're not gonna stop ourselves. So we will try to upregulate ourselves, hopefully at some pace akin to how rapidly AI is advancing itself. But you have to interface with biology, which is tricky. Uh, but anyway, my hope is that the one key missing piece in all of this is that AI does not have wants and desires in the way that humans do. And therefore, if you tell them to stop, they just stop because there's no unpleasantness to not achieving your goal. And the reason that humans go ham is um, you having more than me is gonna be very problematic, right? This is the Jenny coefficient. If you really wanna see people die in the streets, you make um, keeping everybody poor is fine.

• 1:00:32Tom Bilyeu?

  It's when you let some people get rich and some people are super poor. That discrepancy causes the human mind to go absolutely ape shit. So you have to.

• 1:00:44Tom Bilyeu?

  Program AI to not care about its end state. The problem is, I don't know, A, if that's possible, if intelligence inherently has that drive, uh, or if you just can't get it to do anything if it can that easily be shut off. I don't know. Uh, and especially if a bot can glitch, I don't know how you even get Isaac Isimov's three laws of robotics into place where they actively can't hurt a human, uh, because they can trip and fall and hurt a human. So I don't know.

• 1:01:17Speaker 01

  Yeah, I'm hoping it's a much brighter future.

• 1:01:21Tom Bilyeu?

  Act of faith. I think it will be, but it is.

• 1:01:22Speaker 01

  A bunch of Star Wars fans are hoping for the same thing because Kathleen Kennedy has officially announced her stepping down of the head of Lucasfilm by the end of 2025.

• 1:01:31Tom Bilyeu?

  There it is.

• 1:01:31Speaker 01

  You're a big Star Wars guy, right?

• 1:01:33Tom Bilyeu?

  Big, yeah.

• 1:01:33Speaker 01

  Yeah. Or were you one of those people that she ruined it after Rogue One, it was all downhill?

• 1:01:37Tom Bilyeu?

  Yeah, I did. Yes. I did not, uh, I did not have the emotional turmoil that other people had, but when, uh, they killed Han, I was like, oh, I didn't like that. Uh, when they killed Luke, I was really distressed. Um,

• 1:01:58Speaker 01

  Spoiler alert, by the way.

• 1:01:59Tom Bilyeu?

  Yeah, yeah, true. Uh, if you haven't seen it by now. Uh, but I was like, look, they're gonna do what they're gonna do. That doesn't rob me of my childhood. That doesn't make me dislike the earlier ones. To be honest, I didn't like the, um, the prequels that Lucas did. So even in Lucas's hands, I was like, eh. Now, when you look at it through the lens of he was smart enough to make it for kids and not to make it for those of us that grew up with it, it was like, no, no, no, I made something that, uh, kids can enjoy, and that's why you grew up with it. And now I'm making something that the next generation of kids can enjoy. But honestly, I feel like, and shout out to Chamath Palihapitiya, who said something very similar regarding what Elon did with the build out of XAI.

• 1:02:43Tom Bilyeu?

  Filmmaking thrives under constraints. And when you look at

• 1:02:49Tom Bilyeu?

  What Lucas, the story Lucas had to tell because of the state of the art at the time, they got very creative. And so Star Wars, for me, I know you don't think it does, but Star Wars, like the original, A New Hope, holds up for me. I can watch it today and think, whoa, this is really impressive.

• 1:03:06Tom Bilyeu?

  But it was because he understood, okay, these are the limitations. This is how you have to do it to really make this look awesome. And then, once he got to the prequels, he could just do CGI and do whatever he wanted. And now he wasn't being as creative. He was just doing these massive vistas and it didn't feel as real. I didn't feel grounded. I didn't feel like I was there. The original Star Wars, the brilliance of it was making it feel like a used universe, like it was lived in. That was so shocking to an audience in whatever, 1972, to see a spaceship that had scuff marks on it. Because they were coming out of 2001, A Space Odyssey, where everything was like that.

• 1:03:45Speaker 01

  Perfect and clean.

• 1:03:45Tom Bilyeu?

  Plastic perfection. And so that was like the vision of the future. And then he comes along with like this, it was a long time ago in a galaxy far, far away. That idea of it being a long time ago and then it's lived in, like that was gangster. And I remember seeing this documentary about the making of the prequels and somebody walked in to the, the development team and dumped out a box of like metal and all this stuff and said, this is what the Star Wars universe is made of. And I remember thinking, if only you would follow through with that. Because that's not what it felt like. It felt like this super high gloss, plastic isn't the right word, because they were still doing the scuff marks and stuff, but it just didn't feel like I was there.

• 1:04:27Tom Bilyeu?

  There were so many of these just gigantic shots and everything felt CG, even though it looked good, but it felt like CG.

• 1:04:36Speaker 01

  Yeah, um, we have differing thoughts on that because I grew up on the prequels and I love the prequels. And then me and Lynn went back to watch like A New Hope one time. And literally I felt terrible because we were laughing because I was like, yo, that's a, that's a plastic cardboard floating in there. And like, so, but as a writer, I understand that like creative constraints is the best thing in the world. When you have the world to create a story, you just, you fractal, you come up with. A bunch of ideas, you start to throw everything at it. And when it's like, I can only write a story about this thing. You have to go deeper. You have to, it has to be, the story has to be more in depth. It has to be more emotional connection. That's why a lot of like these Avengers is like, this guy pops out and this guy pops out and it's, it's, it's fun. It's light, but there's no emotional attachment to it. Whereas the Iron Man series feels so much deeper because it's one person, one story.

• 1:05:20Speaker 01

  You could talk about his upbringing, his family, you could bring all these other kinds of nuances to it. So I agree with that. I didn't understand the, the hate though, because I guess since I was on the prequel boat, I wasn't like a OG. But I felt like people hated what Disney has done to Star Wars.

• 1:05:35Tom Bilyeu?

  So here, let me give you the take on that. Again, I didn't have the sort of violent response, but from a storytelling perspective, it's fucking terrible. What made the original Star Wars work is that you had this farm boy who wanted to be great and he was gonna have to train. And you train him over multiple films. He has to go be with Yoda in the second film and Yoda's like, you're fucking up. You're letting your emotions control you. You see him failing. You get the, just my all time favorite line from Yoda. Do or do not, there is no try. Uh, and all, he says something like, always how it can't be done with you. You know, it's like, he's trying to lift the thing. He's like, it's too big, it's too heavy. And then Yoda, you know, a third of his size ends up lifting it out. These are these incredible life lessons.

• 1:06:18Tom Bilyeu?

  Then you get Kathleen Kennedy, steps in, takes over. It's a new moment in culture. People want to see female empowerment. But instead of showing a woman earn her stripes, work her ass off to get really good, just by being female. She's like ultra ninja level and comes in and doesn't struggle and gets everything right away. And that's, look, some of it of course is gonna be cloaked, like, don't bring women into this. I wanted to see myself. And, and now you're showing me a woman. I'm not here for it, for sure. But I really do think that a lot of people were just pushing back. It's not as good storytelling. So, um, because look, you had Sigourney Weaver in Alien and Aliens. And man, I for one, thought she was like gangster. I was here for it. I had no beef with that whatsoever.

• 1:07:04Tom Bilyeu?

  Uh, Linda Hamilton in, um, Terminator and Terminator two, like you can do tough women well, but.

• 1:07:10Speaker 01

  Uma Thurman, yeah. Even though the, but the, the working conditions were crazy allegedly, but yes.

• 1:07:17Tom Bilyeu?

  Fair. Uh, but.

• 1:07:20Tom Bilyeu?

  Showing somebody earn their stripes is always gonna get people behind you. But doing the whole like the force is female and all that. I mean, I would have been just as grossed out if people have been like, the force is male. It's like, eh, really? So it's all about working hard to gain a set of skills that allow you to do something awesome. Like, that's what I want to see in the hero's journey over and over and over. And the reason that the hero's journey is a hero's journey, and I'm talking in a Joseph Campbell, hero with a thousand faces, the power of myth kind of way, is that stories originally were a way for humans to organize the information you were trying to pass on largely to kids in a way where you could say, the world's a complicated place,

• 1:08:02Tom Bilyeu?

  but when you get into this kind of situation, this is the way you ought to behave. And you could pass on all of these values to people. And now it became about pushing more of a social message that women are just as dope and/or women are even better. And so that really bothered people. If you wanted to show that women are just as dope, put them through the same wringer that everybody has to go through in life, which is that you start out sucking at something, but you can get good. And so if they'd walked her through that same multi-film trajectory, I'm talking about Rey, and actually made her improve over time, I think people would have gotten behind it. So, I mean, take what we're doing. So basically, at Impact Theory, I had the male-led projects just because I'm gonna have greater insight to that audience. Lisa leads the female-led projects.

• 1:08:45Tom Bilyeu?

  But when Lisa's doing Wish Academy, she's not making the girl like instantaneously badass. In fact, what I love about that story is they're taking something that I think a lot of young women struggle with, which is I'm so empathetic, I'm so wired for that, that it's overwhelming and I don't know what to do with it. And Lisa's showing how that can be a superpower, but you have to learn how to control it. And so this girl through the story ends up really having to understand that, first of all, that's cool that you have that, because in the beginning, of course, she thinks it sucks. And then over time, she's like, oh, I see, I have to learn how to control this. I can make this work for me, but this is gonna be very difficult. And so it's like really telling a uniquely female story where it matters that that person is a woman, that she's

• 1:09:29Tom Bilyeu?

  Going through a different experience, a thirteen year old girl goes through a fundamentally different experience than a thirteen year old boy. And so we're all human, blah, blah, I get it. But it's like, they really are different. And so telling those unique stories,

• 1:09:45Tom Bilyeu?

  that's where the juice is. And Kathleen Kennedy, I don't think ushered in a dope era. I would say to people, cool, you have the ones, the Star Wars ones that you like. Let them do what they're gonna do. New things will come into creation. Let's champion that rather than spend all of our time being vitriolic about the old stuff, which is why I don't spend a lot of time talking about this, even though I was like, eh, whatever. And that was disappointing. But I want to see new cool stories be told.

• 1:10:11Speaker 01

  Yeah, well, I'm excited to see where it goes because one thing I do give Lucas credit for is that he has broke the line every time because I think when they started the prequels, that was one of the first CGI VFX like projects I was at, at that scale that it's launched his VFX company side. So it's like he's always pushing the boundary of filmmaking in one way. So I would like for them to continue that innovation. And hopefully it doesn't become like Adam, yeah, like a Tim Cook apple type where it just kind of continues to diminish. I hope they keep pushing.

• 1:10:37Tom Bilyeu?

  Nope.

• 1:10:37Speaker 01

  Full stop.

• 1:10:38Tom Bilyeu?

  It is inevitable. What's going to happen? Okay, so, ooh, here is my pitch. Anybody who is a creator out there, PSA, the future is user generated content. Did I flag this? There's actually, I retweeted it. So if you go to my Twitter page, you will see this. There was a statement showing this kid at like Comic Con or something, doing a lightsaber battle where like a magician, he had it rigged so he could actually throw his lightsaber and it would come back to him. It looked really cool. And yep, there it is. And the comment was, let's see, fans have more creativity than the studios. And that is true because when, once you go out to the broad world, because let me

• 1:11:21Tom Bilyeu?

  tell you, there is a lot of Star Wars trash out there that is absolute garbage and is embarrassing to everybody. But because there are so many amazing people out there, when you have whatever, fifty years of Star Wars, I think that's pretty close, you're going to get incredible people like that kid making his small Contribution to just showing how live in person you can do something really cool and really innovative. I've seen Star Wars fan fiction be made that's absolutely incredible. The future, dear creators, is user-generated content. AI is going to give them the tools. What I think my job is making Project Kaizen is to create a contractual setup such that the community can create things and make money creating it.

• 1:12:06Tom Bilyeu?

  And so I've long said our job as a development studio is to make a container in which people can create. And so that with AI, I just guarantee you will never be able to outpace people. Your community is always going to be able to create faster. And ultimately, because of the volume, they'll be able to create better stuff than you. And if you can create a situation where you win for having created that container and they win for coming in and building inside of your container. Now I see how AI really works to our advantage. Cause you can, I talk about that shattered pane of glass. And there's going to be all these little creators, all these little companies. But if you can create a container that will attract the eyeballs so that we have a shared cultural experience. It'll still be much more fragmented than it is today. But you can create these containers that people will pour into.

• 1:12:50Tom Bilyeu?

  Say what you want about Fortnite, it is extraordinary. UEFN what they've done, say what you want about Roblox, same thing. I mean, the, the way that they're creating opportunities for creators to build inside of it, for them to make a living building inside of it is extraordinary. That's what I'm trying to do with Project Kaizen. I want to set up a story world that other people can come and create in. I want to make sure that they can take advantage of AI and build things. And there will have to be standards met and they'll have to like, if they want to become canon, they'll have to meet certain like criteria. But if they want to do the most random weird shit, as long as it doesn't violate, like it can't be pornographic or whatever, as long as it doesn't violate that. Like do your fucking thing and let people fall in love with your edge of this universe. That is the future.

• 1:13:34Speaker 01

  I love that. And to me, that's empowering too, because so many times, the things that we actually want to do get gate-kept. Because I remember when I was younger, I was in the backyard trying to do these cool tricks and stuff like that, but you didn't have the tools and the access and the resources where now, if I can put a coding prompt and come up with a game that's like the game I have in my head as a child, like, the childhood creativity can then go straight. You don't get somebody saying, well, you have to go through eight years of school and be this type and have this much money to make this thing. Now it's just like, here, go. And you can just kind of unlock that. So I'm excited for the future generation to have that possibility.

• 1:14:06Tom Bilyeu?

  Here, here is a shout out that people may or may not know. Fifty Shades of Grey started out as Twilight fanfiction.

• 1:14:12Speaker 01

  Wow.

• 1:14:12Tom Bilyeu?

  Now, imagine you're the creator of Twilight. I get it, there's some ego hit. You've got somebody inside of your own community that's telling a story in your universe that people are resonating with. Now, because it's so sexual, I get that there might be a line there, but, man, as the maker of Project Kaizen, let me tell you, if we got somebody of that caliber that wants to create inside of our universe and you make something inside of our universe that's more popular than what I create, good on you. I just want to make sure that that shit says a Project Kaizen story. I want to reinforce that brand. Now, look, I want to participate financially, but that person should make the lion's share of that win. And so this is where

• 1:14:52Tom Bilyeu?

  creators have egos, myself included. Trust me, I'm not beyond this. But you, if you can get yourself to emotionally resonate with creations inside of your own world and not need everything to be credited to you, you can make something so much bigger. Anyway, only execution matters. The fact that I can talk about this stuff eloquently doesn't matter if I can't build it. Ah, boy, oh, boy, do I think it's the future.

• 1:15:18Speaker 01

  Well, speaking of building things, uh, this is like audacity. So I don't even know if building is the right thing. So, Fire Festival is back. Tickets are on sale for the follow-up infamous disaster. There's no musical lineup yet. They haven't even kind of got the locations. Their specifics are very generic, but they already have tickets on sale and they're starting at $1,400.

• 1:15:42Tom Bilyeu?

  Oh, my God.

• 1:15:43Speaker 01

  That's like 3X a Coachella price ticket, like, baseline, just for, to kind of level set. So, is this, is this a marketing idea? Like, is this a marketing slam dunk? Is this a dumb idea? Like, how do we rationalize this?

• 1:15:55Tom Bilyeu?

  Marketing-wise, this is brilliant, because people are going to cover it left, right, and center. Uh, they'll sell tickets because people want them to fail. If they can pull it off logistically, this will be incredible, incredible. It's got such a good story. It's got so much mind share. But if they fuck this up again, oh my god, people will burn them. People are gonna start drafting the lawsuit before they get there. So you better knock it out of the park or be prepared to refund everybody's money. So yeah, I mean, look, I get it. I get why people want to do this because whenever you're trying to create something new, you're always asking yourself, how do I get mind share? How do I get people to pay attention?

• 1:16:36Tom Bilyeu?

  And leaning into the infamous disaster side of it would be very smart. Like if they're like, are we gonna mess it up again? Come and find out, like be a part of this historic event. If they can lean into it and can actually pull it off, this will be incredible. If it's the same team behind it, then people are idiots. But if this is a new team that's bought the brand and is like gonna do an under new management kind of thing, then I'd be here for that. But after watching the documentary on that guy, no way am I buying tickets.

• 1:17:06Speaker 01

  I gotta go into this. So the ticket level starts at 1,400 for an Ignite general access ticket. The Fuego ticket is $5,000. There's an artist access ticket that's 25 grand.

• 1:17:16Tom Bilyeu?

  High.

• 1:17:17Speaker 01

  And then there's the Prometheus Firestarter ticket that is 1.1 million dollars.

• 1:17:23Tom Bilyeu?

  Jesus, I want to know what you get for that. But people will flex, like if they can really pull this off. But this has gotta be an under new management kind of thing. If it's the same guys, yikes, yikes. Do we know is uh,

• 1:17:40Tom Bilyeu?

  the guy that 50 Cent won't back off of, what's his name?

• 1:17:43Speaker 01

  Ja Rule.

• 1:17:44Tom Bilyeu?

  Is he involved in this?

• 1:17:46Speaker 01

  What is Ja Rule's opinion on Fire Fest Part Two?

• 1:17:50Tom Bilyeu?

  That's what I want to know.

• 1:17:51Speaker 01

  I haven't seen it.

• 1:17:52Tom Bilyeu?

  What is that famous from? What does Ja Rule think about 9/11?

• 1:17:55Speaker 01

  9/11?

• 1:17:55Tom Bilyeu?

  Yeah.

• 1:17:56Speaker 01

  Deja bo sketch. Yes, they they've been very, what is Fire Fest 2? Is it a festival? I haven't seen anything about the previous people. It's gonna be take place in Mexico. Eighteen and plus event. They've been keeping it very generic about the who, what, where. They don't even have a music lineup yet. But it's a party in Mexico as of right now, so we'll follow this.

• 1:18:15Tom Bilyeu?

  I've got to imagine musical acts are gonna be so hesitant unless this is taken on by somebody really big.

• 1:18:21Speaker 01

  Memorial Day weekend, May 30th to June 2nd.

• 1:18:24Tom Bilyeu?

  Wait, but they don't have specifics yet? Yikes. Okay, I'd be very nervous. I'd be very nervous.

• 1:18:29Speaker 01

  It's gonna be bad. Alright.

• 1:18:30Tom Bilyeu?

  Not the kind of thing you want to do at the last minute. Alright, we'll see.

• 1:18:32Speaker 01

  And last but not least, Elon was getting heat because he walked offstage and X was following behind him. Some people thought he was abandoning his kid. The full video doesn't show that. I don't see anything wrong with it. Maybe I just don't have helicopter parents. I don't know. But what's your take on Elon letting X run around on the stage?

• 1:18:52Tom Bilyeu?

  Okay, uh, this is crazy that people are going nuts about this. So a child should be able to walk down the stairs. A child should have the confidence to walk down the stairs. Uh, that's not exactly something where the kid's gonna fall down the stairs, break his neck and die. So even if the kid fell, uh, yeah, maybe he needs stitches. You you've you've got to let kids take enough risks to build confidence in the world. I think part of the reason we have the most anxious generation ever is that their parents wouldn't let them walk downstairs. Uh, wouldn't let them take a like reasonable amount of risk. I don't see any. Elon Musk has security everywhere. He's in a gigantic stadium. There are people everywhere. This kid is not gonna go missing. So, uh, yeah, I'm shocked that people freak out about this one. And one of my favorite stories, uh, comes from Richard Branson.

• 1:19:37Tom Bilyeu?

  Now, I don't remember the age, but it I think was like eight or nine. His parents dropped him off something like a mile from his house. Got him out of the car and said, find your way home. Now, that guy goes on to feel like literally drop out of high school, I think. Uh, certainly college and starts building this magazine when he's still a student, doing all this incredible stuff. Obviously, having one of the most storied business careers ever. Uh, and he often talks about how he was raised and his parents pushed him to take risks. They pushed him to find his way to be confident, to always be in problem solving mode. And so I remember thinking, the first time I heard that, I was like, woo. I don't know if I could let my eight or nine year old, and maybe he was a little bit older, but I don't know that I would let a kid at that age walk a mile home unless I had like a drone over them or something and I could see where they were. Uh, but maybe I'm the problem. So.

• 1:20:23Tom Bilyeu?

  It, this to me is like a nothing burger in the most extreme way possible.

• 1:20:29Speaker 01

  Yeah, I was a turnkey kid, so, or latchkey kid, like, I would go home, let myself in, key was under the rock, like, it was the, the whole, like, you gotta watch your kids, cause they're gonna get kidnapped. I remember summer days, my mom would lock us out the house, like, come back when the lights go out, like, now, if you come back after the streetlights, that's a way different conversation, but, yeah, get out, do something, go out, like, go to the school, go walk around, go be, go touch grass. That's why all these kids now is the weirdos, they don't do that.

• 1:20:56Tom Bilyeu?

  Now, when I was a kid, my parents actually had the key to the house in the garage, and in like, an obscure place, and a, a wasp nest got built where the key was, and I went in there to grab it, not knowing that a wasp nest had come into existence, got stung in the forehead trying to get the key to the house, but still got the key, still got inside, and it was like, nowadays, people would freak out, your kid got stung by a wasp, right, imagine, he could have died, he could have had anaphylactic shock, and my parents are like, you getting in okay? Yeah, you good? Yeah, okay, cool, then we're all right. Now, the thing I will say about Elon here is that,

• 1:21:36Tom Bilyeu?

  the one thing that I do have a neuron for that fires every time I see him with X's, he's got a lot of other kids. And if I was one of his kids, I might feel some kind of way about X's everywhere. And X is always on the shoulders. Now, look, off camera, maybe they don't wanna be, and who knows, but, yo, that would be where I would have a lot of neurons in my brain firing for, as a parent, I've gotta make sure that it's not X and the Funky Bunch. It's like, you wanna make sure that all the kids feel pretty equal, and at least as a, an observer from the outside, and like, I see a lot of X's.

• 1:22:14Speaker 01

  Uh, he's gonna need more, more shoulders, he got 13 kids, so that's gonna be, uh,

• 1:22:18Tom Bilyeu?

  It's a lot.

• 1:22:19Speaker 01

  It's a lot to carry, so, that's all I got.

• 1:22:21Tom Bilyeu?

  All right, everybody, if you have not already, be sure to subscribe, and until next time, my friends, be legendary. Take care, peace.

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