Reality vs. Conspiracy: Ukraine Strikes Back, Biden’s Decline, and Elon vs. Trump | The Tom Bilyeu Show

Welcome back to Impact Theory with Tom Bilyeu. In this episode, Tom and Producer Drew dive straight into the heart of political chaos, exploring the ever-expanding landscape of conspiracy, media spin, and why public trust—sometimes even in the president—is at an all-time low. With Lisa Bilyeu co-hosting and special guest Victor Davis Hanson weighing in, the conversation pulls no punches: from Biden’s alleged cover-up and the inner workings of political “team ball,” to international conflicts like Ukraine’s bold drone strikes deep within Russia, and the jaw-dropping implications of global policies around information integrity. The hosts question just how much power is held by a few political insiders, why the media might be in on the game, and why the rest of us should fight ferociously for freedom of speech—especially as the UN flirts with ideas that look a lot like global censorship. You’ll also hear deep-dive explorations into economic peril, with stark warnings about ballooning national debt and insights into the human biases that keep us locked into self-defeating political cycles. SHOWNOTES 00:00 Media Bias and Political Teams 18:16 Consequences of Inaction 21:34 Uniting Through Common Challenges 31:50 Balancing Conflict and Loyalty 47:10 War-Driven Innovation Dynamics 52:07 Deflation Misunderstood: Innovation Insight 01:06:36 "Political Machinery's Constraints" CHECK OUT OUR SPONSORS Vital Proteins: Get 20% off by going to ⁠https://www.vitalproteins.com⁠ https://www.vitalproteins.com and entering promo code IMPACT at check out ButcherBox: New users that sign up for ButcherBox will receive their choice between steak tips, salmon, or chicken breast in every box for a year + $20 off their first box at ⁠https://butcherbox.com/impact⁠ https://butcherbox.com/impact Monarch Money: Use code THEORY at ⁠https://monarchmoney.com⁠ https://monarchmoney.com for 50% off your first year! Netsuite: Download the new e-book Navigating Global Trade: 3 Insights for Leaders at ⁠http://NetSuite.com/Theory⁠ http://netsuite.com/Theory iTrust Capital: Use code IMPACTGO when you sign up and fund your account to get a $100 bonus at ⁠https://www.itrustcapital.com/tombilyeu⁠ https://www.itrustcapital.com/tombilyeu Jerry: Stop needlessly overpaying for car insurance - download the Jerry app or head to ⁠https://jerry.ai/impact⁠ https://jerry.ai/impact 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.

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• 1:09Tom Bilyeu?

  Welcome. It's wonderful to have you. We have applause, apparently. I love that. But we've got some crazy things to cover today. Ukraine launches a successful drone attack deep into Russian territory. Russia calls it the Russian Pearl Harbor and vows a devastating response. Elon calls the big, beautiful bill a disgusting abomination. Let's go. An Egyptian national lit people on fire in an attempt to kill Zionists. Two Chinese nationals are caught smuggling a deadly fungus into the US that could poison the food and cause liver damage. More information has come out about that this morning. Pretty intense. Metabize their own nuclear power plant.

• 1:53Tom Bilyeu?

  And something I think we're going to start with today. The Biden cover up Drew continues to grow in importance, certainly in my mind, as the way that they're covering it is intentionally or unintentionally part of the cover up.

• 2:06Speaker 01

  Yeah. For those that don't know, Alex Thompson and Jake Tapper, they released a book called Original Sin. It's about the cognitive decline of Joe Button, of Joe Biden.

• 2:15Tom Bilyeu?

  Joe Button? Isn't there a real Joe Button?

• 2:17Speaker 01

  Yeah, there's a rapper podcast named Joe Button.

• 2:19Tom Bilyeu?

  That's hilarious.

• 2:20Speaker 01

  As, well, shout out to me, you gave me this interview that Barry Weiss did for the Free Press as like required viewing. They have evidence going back to 2021, 2022.

• 2:30Tom Bilyeu?

  2015 is when they say it kicked off. 2015 with the death of his son.

• 2:34Speaker 01

  Sheesh. So, yeah, to say that this is a cover up, a 10 year scandal is crazy.

• 2:41Speaker 01

  It was just interesting though, but to your point, we were talking about this before we started rolling, like, is this where we are with politics now? Like, it seems like it is what it is situation and it's disheartening.

• 2:51Tom Bilyeu?

  It is very disheartening. This is, this is partly the problem with experts, but more than anything, this is the moment in politics that we're living in. Everybody's on a team. Everybody wants to defend their team. And as I watched the coverage, the part I can't figure out is, does Jake Tapper know what he's doing? In terms of,

• 3:18Tom Bilyeu?

  he was one of the most aggressive attack dogs on people saying that, hey, look, this is clearly somebody who is in cognitive decline. He would go after them, making it, you know, impossible for anybody to explore that. Now is making out like, hey, we were being bamboozled by the administration. And that's where, when I was watching the Barry Weiss interview, and look, I think Barry did a phenomenal job, but this is where I wanted people to really drill down and say,

• 3:49Tom Bilyeu?

  these guys called themselves the Polit Bureau. So the small group of insiders that were keeping. Biden from the public and the public from Biden, they refer to themselves as the Politburo. A Politburo is literally by definition, a small group of political insiders of a communist party. So I certainly haven't made any bones about talking about the fact that there were two reasons that I could not vote for the Democrats in the last election, and that was fiscally, I thought that they were the even more irresponsible party and just the authoritarian leanings were just deeply uncomfortable. And the fact that internally, tongue in cheek

• 4:32Tom Bilyeu?

  or not, they're referring to themselves in that way. So you've got team ball where it is entirely possible that once you're on the team, you legitimately can't see the problems. That's what was weird about watching Barry Weiss, who I think is very even keel, very level headed, but wasn't like beating him to death with, hold on a second, how is it that we ended up in these camps? How is it that people think this is okay? How are we not freaking out that they're calling themselves a Politburo? Like this is, that politics are like that. And I, I really think it will be a mistake for people on the right

• 5:13Tom Bilyeu?

  to be like, see, the Democrats are stupid. People on the right are just as prone to doing the same thing. And that's the terrifying part to me is I've got nowhere to go. There's no camp who's like, saying the thing that I think needs to be said, which is follow cause and effect. Where do we want to end up? What's likely to take us there? I need disconfirming evidence. I know better than to overtrust myself. Just everybody right now believes that they're the person that should be listened to, that it's a completely logical stance to take that I know well enough how the world works that I can tell you that Trump is a threat to democracy, that it's perfectly okay for me to completely destroy

• 5:56Tom Bilyeu?

  democracy to protect democracy? Like, people are not recognizing the human nature at the center of all of this that leads people to want to gain power almost by any means necessary, retain power almost by any means necessary. And we're seeing that play out in real time, and nobody's talking about the human nature of it.

• 6:17Speaker 01

  Yeah, and the human nature of it is what jumps out to me is because Barry even talks about it that the Biden family almost became like a mafia family, like what happens in a family stays in a family. We have to do what's best for, we're going to prop Joe up. Jill was running meetings and there wasn't anybody that said, hey, we shouldn't do this. And then the, another reveal that came out through the interview was that there were specific people in the press junket that would get questions because they would stay away from that topic. So if you ask somebody about, hey, what's happening with Biden, he doesn't seem as sharp. Okay, now you lose question privileges. The guy Alex, who even wrote the book, said he covered the White House for four years. He never got a question in any of the press conferences.

• 6:57Tom Bilyeu?

  Yeah.

• 6:57Speaker 01

  Which is crazy to me. That's like, the, it's, the spin is one thing, but then to realize that so many people in the Democratic Party has been ducking and criticizing the Republicans for media manipulation, lying, being a court, like a, a team, playing team ball, and they're doing just the exact same thing. So it's the hypocrisy of it all. It's the smoking gun of it all.

• 7:23Tom Bilyeu?

  But you're never, no one is ever going to care about that. And this is the part that's really starting to concern me is

• 7:32Tom Bilyeu?

  these things are mappable, these things are knowable. The way that people act when they're playing a political game is knowable. It's been being written about since whatever the 16th century. So you've got man is political animal, acts in a knowable way. This is a political game, so we know that these are going to be the things that are happening. We're now living in an era where the media is more in on it. I like to believe it's entirely possible that I'm just waking up to a truth that's eternally been this way. But you've got the media now that's in on this, like in the most aggressive, complicit way possible, where they are actively trying to hide the candidate, running smokescreens, nobody calling out that this is weird. And then, and this is where this really begins to freak me out.

• 8:17Tom Bilyeu?

  You've got the UN has a new resolution that they're working on called information integrity, which is just another way of saying censorship. So I'm watching this gigantic scandal unfold, which is, oh yeah, PS, we've been hiding the candidate forever, and we think that that's completely acceptable, that it's about, it's, the presidency is not about one man, it's about the office of the president. That's psychotic. They're calling themselves a Politburo, and they want to shut down dissenting voices under the idea of information integrity. That's fucking crazy. That, that is like totalitarianism.

• 8:57Tom Bilyeu?

  And the thing that I really drew this, I have this same feeling of there is an insidious structure to the way that the human animal works, and there's no escape, that I'm caught in quicksand. I have that feeling when I write about the financial system, where it's like, I can tell you how it works, I can tell you why it's broken, I can point to all the negative consequences, I can even tell you how to fix it. No one's gonna do anything. Because there's just the perpetual motion of, but I'm in this system and it works well enough, and it's like, but, but you are going to die, like fiscally. You are going to die. And it, everyone's just gonna keep going down that path?

• 9:42Tom Bilyeu?

  It's so fucking surreal. And I have that same thing with freedom of speech. Guys, this is how politicians work. This is how we all work when we end up on a team. You have to distrust yourself and you have to let people speak. But that, we're moving in the exact opposite direction. What the fuck? Like, what do you do with that?

• 10:08Speaker 01

  Nightgale Wing said, can you address the facts? What's the signs of Biden's decline? Who hid them? Give the names and bring them to court. That's the interesting thing about this.

• 10:17Tom Bilyeu?

  He literally lists them in the interview with Barry Weiss. He gives like five names. We'll start there.

• 10:23Speaker 01

  But, but even before that, it's the fact that it was a power grab for democracy. And to me, it was a bit disheartening that the entire Democratic Party is run by five people.

• 10:35Tom Bilyeu?

  Yeah, but don't, please, please, please don't think of this as a Democrat problem. This is a man as political animal.

• 10:43Speaker 01

  I, I completely understand that. But even on the man as a political animal, all these young Democrats, nobody could have used that as a power grab. There were all these opportunities for.

• 10:53Tom Bilyeu?

  Nobody could have used that as a power grab. What do you mean?

• 10:55Speaker 01

  Almost as if, okay, I can see that Biden is, is losing a step. Let me create internal dissension. Let me take his followers to become my followers and let me prop up somebody else.

• 11:04Tom Bilyeu?

  And you want to know why they didn't do that?

• 11:06Speaker 01

  Let, let this be my coup moment.

• 11:07Tom Bilyeu?

  But this is so self-evident why they don't do that. So we are living in a moment. We are racing away from each other politically. We are psychotically, politically divided. What is the political divide? It is different frames of reference, period. What is a frame of reference? A frame of reference is biology. People on the left have a biological leaning towards compassion. People on the right have a biological leaning towards personal responsibility. It is values and it is beliefs. They value collective action, making sure that nobody on the left, making sure that nobody's left behind. And they believe that Trump is an existential threat. And I don't even know what they mean by democracy.

• 11:49Tom Bilyeu?

  Our control, probably that. But the right has the same foibles. So they have their beliefs, they have their values and they're going to fight for them. People are just playing team fucking ball. Now, when you are so wrapped up in your frame of reference and you are so convinced of your rightness and you are so blind to history and how often it batters us about the fucking head with a bat of you thought you were right, only to. Find out you were a fucking retard. Somehow people blind themselves to that. And so they're just like 10 toes down. My party's got to win. So no one's going to try to coup the party when you're like, we've got to beat this fucking guy. They are trapped inside of their frame of reference.

• 12:33Tom Bilyeu?

  And this is the part that is scaring the shit out of me. I watched Barry Weiss, who is very smart. Seems to be more aware than the next person of her own foibles. And yet is not going. This is a structural problem. This is a structural problem of the human fucking mind. We are all trapped in this. And hey, guess what? The only way out is everybody's got to be able to say what the fuck they want. And this may be the time to play the UN clip that I put in the spreadsheet. You've got the UN talking about information integrity. It's like, dude, you got to make a lot of noise when people point a finger at anyone and say dumb shit. Like this is misinformation. That is fucking really starting to mess with me.

• 13:17Tom Bilyeu?

  That people are going down this path. I'm watching what Europe is doing. This is nuts, man. It's like, people are wrong all the time. I am going to be wrong all the time. Let me yell and scream as much as I want. You guys cannot abdicate your responsibility for thinking through these fucking things. And I am but a voice that I hope you are using a medley of voices. To figure out, you're going to take a small group of things. You're going to say, these are going to be the ones that I'm going to wrap my own fucking head around. And you can't abdicate that responsibility. But the thing that we, I think, from my frame of reference, that we have to fight like, Drew, we got to really fight is freedom of speech. Because of our likelihood to be wrong.

• 14:02Tom Bilyeu?

  The thing everybody has to be paranoid about is enforced hegemony of thought. You can't have that. That is certain death. And through complexity, that's what we have in the financial system. We are racing towards a cliff. Elon screaming about it. No one's going to give a shit because of the way that getting elected works.

• 14:28Tom Bilyeu?

  Hold tight, we're gonna take a quick break.

• 14:32Tom Bilyeu?

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• 15:17Tom Bilyeu?

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• 16:02Tom Bilyeu?

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• 16:49Tom Bilyeu?

  Alright, we're back. Let's get into it.

• 16:52Speaker 01

  Okay, let's jump into the UN clip, and then I can hit the rebuttal so we can now have context.

• 16:57Tom Bilyeu?

  This fucking guy.

• 16:59Speaker 02

  Digital platforms are being misused to subvert science and spread disinformation and hate to billions of people. This clear and present global threat demands clear and coordinated global action. Our policy brief on information integrity on digital platforms puts forward a framework for a concerned international response.

• 17:27Tom Bilyeu?

  Yeah.

• 17:28Speaker 01

  I mean, okay, I'm gonna play devil's advocate for a second.

• 17:33Tom Bilyeu?

  Please be aggressive.

• 17:34Speaker 01

  There's deep fakes, there's so much misinformation there. There is people lying on the internet for clout. There are people lying for their team.

• 17:44Tom Bilyeu?

  There's people lying for evil reasons.

• 17:47Speaker 01

  Yeah.

• 17:47Tom Bilyeu?

  Forget clout.

• 17:48Speaker 01

  So, there is a certain thing to... misinformation is being spread on social media.

• 17:54Tom Bilyeu?

  Yes.

• 17:55Speaker 01

  We can agree on that, yes.

• 17:57Tom Bilyeu?

  It's being spread everywhere.

• 18:00Speaker 01

  Where do you think that line is, or where do you think that intent is coming from? Because it seems to you that you're saying like, everybody should talk...

• 18:06Tom Bilyeu?

  Control.

• 18:07Speaker 01

  Because you can't filter out right and wrong, we just need to open up the gates and just let every idea come in.

• 18:13Tom Bilyeu?

  Yes!

• 18:14Speaker 01

  Got it. Break that down for us in the sense of like... Because there is the thing about like free speech absolutism,

• 18:24Speaker 01

  but there are certain things that are like, hey, like you are lying, like this is digitally...

• 18:29Tom Bilyeu?

  You have to let people lie. You have to let people lie. What you don't have to let them do is inside violence. Just round it to something nice and simple. But, oh my god. Okay, so... The problem that we have to solve for is people want control, they believe they know best, and this is one, Drew, I need better words. If this isn't... I know this doesn't land because nobody gets behind it.

• 19:04Tom Bilyeu?

  People manipulate other people because it works. You hide Biden because you can. You give people the words to say, this is not the droids you're looking for. So they have something to repeat to their friends and then they're fine. And because manipulation works, people are going to manipulate. And once you know that, I don't understand how people are not, I mean, look, the, the country was built around protections against this exact thing, but we have somehow as a culture,

• 19:47Tom Bilyeu?

  we've lost touch with, this is how humans work. This is what they do. And so if you give them the tool of being able to crush dissent institutionally, because they can still do it through bullying tactics. But if you give them the institutional ability to crush dissent by saying, ooh, these things are high information integrity. Ooh, people are using this to lie. Oh, this is very risky. It's very dangerous. Look, look at how you say these things and bad things spread around the world. When you give people the ability to do that, you give them the materials with which they will build the prison to put you in.

• 20:26Speaker 01

  Yeah. It seems disheartening though, to call it a human nature problem and just kind of write it off as like, this is man, this political animal.

• 20:36Tom Bilyeu?

  It is disheartening, but it's true. Here's the thing, Drew, never fight against what's true. Once you know what's true, then you go, okay, well, given the reality of this situation, what do we do now? If you hit that wall and you throw your hands up and you give up, okay, that I get, you'd want to stop people from doing it. But my dad said something to me, I've gone to say this story like a hundred times and I stop myself every time. But my dad said something to me the other day that really hit me. And he said, because he was here for a while, you would see him in the comments. You don't see him in the comments anymore. And what he said to me was, man, I wish you would like cover less dramatic stuff, basically. And that was devastating because that was my dad being like.

• 21:24Tom Bilyeu?

  I mean, I'm putting words in his mouth, but I'm in my mid 70s. I don't care about this shit anymore. And I just wanna go do my thing and work on my old cars and I can't fault him for that. But as somebody who now I've hit an age where I've watched America go from turning out kids who believe that they can do just about anything to turning out kids who feel like they're in victim soup. And I'm just like, well, that has consequences.

• 21:54Tom Bilyeu?

  And I mean that on the international stage. I mean that in terms of maybe not this generation, maybe not even the next. But at some point, like you're, you're in a dire place and look at Argentina and look at what happened to them. And they went from being one of the most prosperous nations in South America to being one of the most destitute on the back of bad cultural beliefs that turn into bad policies that turn into hard lives. And I'm just saying, it doesn't need to be that way.

• 22:18Tom Bilyeu?

  But when people don't want to talk about the actual difficult things, when they run into something that is both true, but really not fun and they back off, that, that is the famous quote, "All it takes for," as a paraphrase, "all it takes for bad things to happen is for good men to do nothing." Now, I don't know how much I'm gonna ask of myself in terms of how deeply do I want to engage in this stuff? Because I don't wanna sit in negative soup all the time. How much do I expect other people to engage with this? Don't know.

• 22:58Tom Bilyeu?

  And it may simply be, it may simply be that human nature, gonna human nature, we'll move in that four-part cycle forever because when things are good, people check out. And then when they check out, things go bad. When things are bad, people are like, hey, what the fuck? I'm not willing to put up with this anymore. And so they jerk it back on the straight and narrow, then things get good, yada, yada. It repeats over and over and over.

• 23:25Speaker 01

  Where do you think like we go from here? Cause to me, the disheartening part was that president above all.

• 23:36Speaker 01

  Even though it was a small group of people, they were actually controlling the Democratic Party. This family of five had the entire half of the country in a chokehold. They stopped progress in that area and that's what's putting the left in the situation that it is now. But how do you think they get out of this? Because I feel like the skeleton's out the closet. It's being 100% exposed.

• 24:01Tom Bilyeu?

  How does the Democrat Party get out of this? Or how do we as Americans get out of it? Or how do we?

• 24:06Speaker 01

  You said it's not a democratic problem, so I'm like...

• 24:09Tom Bilyeu?

  It's not, because you traded the Biden family. And I don't think the family's right would think about it. The Politburo was certainly not just made of their family, just as the Trump administration is not just a Trump family. The thing that I really want to... The thing that I would love to see happen, but it may be truly anathema to the nature of politics, is to have somebody... And I have romanticized Lincoln. I'm becoming more and more aware of that. But he had what he called a team of rivals. So he wanted people on his cabinet that disagreed with each other so that through that friction, they could find the best idea and the best way forward. I want to return to that. I want to return to, okay, cause and effect is the name of the game here.

• 24:50Tom Bilyeu?

  But for that, you have to have a populist that wants to vote for the outcomes. And right now, we don't have that. We have a populist that wants to vote for teams. And I have a bad feeling that outcomes take a long time because nobody really understands what the outcomes are. They just know how they feel about their day-to-day life. And it takes a long time for that feeling to change and evolve. But the way out of it would be that, to get everybody obsessed with cause and effect, to, as a country, want the friction between the left and the right, but for the left and the right to be racing towards the middle, not towards the extremes. And if we did that, and we stated with clear KPIs, this is where we're trying to end up, and then we look at the data and we steer by the data and...

• 25:34Tom Bilyeu?

  You will slowly pull your way out of that. Our only hope, honestly, right now, and this is probably part of my reason to be fascinated by China, is the way out, and I hate that this is true, is to have a strong enemy. If we can get people to realize that there are consequences to bad policy, then they'll at least start paying attention and take it seriously. When you're in a competition, it has a way of clarifying your thoughts.

• 26:04Speaker 01

  Yes, red light from Michael Vander Galien. It's fascinating to see that the more you dive into politics, the more you understand that it's an incredible, that it's an in- the more you understand that it's an incredible immoral, or at least amoral.

• 26:20Tom Bilyeu?

  Incredibly immoral, I think is where she's headed.

• 26:21Speaker 01

  Yeah. Uh, good to see. Question, which one is it? Immoral or amoral?

• 26:26Tom Bilyeu?

  Uh, I think at the individual level, it's immoral, and at the organism level, it's amoral. It doesn't care, but when people are doing nefarious shit, they are being immoral. Um, so, but the blanket bureaucracy is probably best thought of as amoral, because at least for me, that puts me into the position of, oh, my God, this blob literally does not care about anything other than its own survival. And that's the right way to think about it. And so is a virus immoral? No, but it's certainly amoral. It doesn't give a fuck if it eats a kid alive. Literally could not care less. Um, so that is politics. Much to my shock, horror, and dismay.

• 27:10Speaker 01

  Said, I feel like-

• 27:11Tom Bilyeu?

  Olivia says, "Hi, Drew," by the way.

• 27:13Speaker 01

  Hey, Olivia. Um, I feel like-

• 27:15Tom Bilyeu?

  Who decides morality? Built on the Rock Productions. That is a very good question. We all do. So everybody is going to define their personal morality. This is what I'm talking about with, um, frame of reference, hiding in your frame of reference are your values. Your values are your morals. And it is ought versus is. Once you say this is how things ought to be, you are, um, enunciating your morals. And when you don't have a north star that everybody can aim at, this is where things go off the rails. This is why religion is so helpful, uh, because it says, "Here they are, and we know them to be true because Magic Man and Sky said so." Um, and that's shockingly useful.

• 28:04Speaker 01

  We'll be back in a moment.

• 28:09Tom Bilyeu?

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• 29:13Speaker 01

  All right, let's pick up where we left off. I wanted to jump into Victor Davis Hansen's response. Let's go. I love this guy. Response to the book because I feel like he summed it up in the best way possible. Let me get the right timestamp.

• 29:25Speaker 03

  CNN grandee, seven-figure salary, kind of an iconic figure in this left-wing media outlook. But my point is this, for the last four years, again and again and again, if anybody questioned the obvious mental decline of Joe Biden, his cognitive difficulties, Jake Tapper and went on CNN, Jake Tapper tore them apart.

• 29:51Speaker 03

  The locus classicus was Laura Trump, who said that he's obviously as early as 2020 in decline. And he suggested that she was berating him for a childhood stutter, which was absolutely ridiculous. So what is my point? Here is someone who promulgated the greatest cover-up in the history of the US presidency, helped.

• 30:14Speaker 03

  And we were told that Joe Biden was fit as the fiddle. We had medical reports that obviously or mysteriously did not have one critical indicator that were apparent on the Trump and Obama presidential medical records releases. There was no PSA test, an indicator of the health or malignancy of one's prostate. That was a cover up too, as we're starting to learn. But my point is this, no one was more instrumental in berating, maybe Joe Scarborough. But other than he, Jake Tapper tore apart anybody who suggested that Joe Biden was

• 30:55Speaker 03

  as cognitive in decline as they saw with their own eyes and heard him. When the Wall Street Journal wrote in a definitive story, Jake Tapper wrote them off as Murdoch, Fox propagandists. So why are we here? Why did he write a book now? Well, the obvious answer is that Joe Biden has no power. And these media people in Washington are, they're like moss to a flame. They gravitate to power. And when you don't have power, you don't have friends and there's no downside in telling the truth. Why didn't Jake Tapper write this a year ago? Because he knows what would have happened.

• 31:37Speaker 03

  Somebody in the White House would have called up and said, Tapper, no one from CNN is going to get a seat at a press conference. There's not going to be any CNN interviews. So he backed down. And now in a very cowardly fashion, now he comes out and he is blaming the White House cover up. But what he doesn't tell us is the White House cover up would have been impossible had not CNN, MSNBC, PBS, NBC, ABC, CBS, all conspired with the White House staff to downplay, not just downplay Biden's cognitive decline, but attack people.

• 32:18Speaker 01

  That's, I feel like he hit it in a nutshell. It's easy to have the conversation now. It's easy point that at these things now, but they were complicit. And I'm still on the no primary. The fact that there wasn't one Democrat that was like, hey, this is my shot. Biden is messed up. I'mma say it and like, like, it just seems like nobody had the guts to actually stand up and try to stop this thing. Even though let Jake Tapper and Alex Thompson said it, they seen signs back to 2013, 2015. Like it's, so this is not a new decline, but it's just again disheartening that this is where we are.

• 32:53Tom Bilyeu?

  This is where we are because this is what works. So if you're a politician and you're playing a political game, you've got to be honest about how things work. Again, never argue with reality. And there might be the occasional moment where you really can like take advantage of something that's going on. And you can rise to the top of the party. I think that moment is now and you're seeing people try to do the grab in the vacuum of power. But when they have a death grip on the party, that's not a smart move. And if I were advising somebody, I'd be like, wait till the right moment and then take your shot. Don't take the shot now where it's guaranteed to get you isolated. We are living in a moment where the right and the left cannot cooperate. The second you cooperate with the other side, you're seen as a traitor. Everybody's about loyalty.

• 33:36Tom Bilyeu?

  Everybody says that Trump is all about loyalty and he is. Uh, but one of the things that I found interesting in the Barry Weiss interview with Jake Tapper is that, um, Alex Thompson said, uh, loyalty is the number one idea for the Biden family. And anybody that pushed back was saw as disloyal and then you get iced out. And so if that's the reality, you have to play within that system. And this is exactly how systems corrupt is you're like, well, if I wanna still be relevant, then I've got to stay alive and to stay alive right now, I've got to keep my head down. And it's all true. And if, again, if I were advising you, I would advise you, yeah, you have to play the game, but that is precisely how the game deranges.

• 34:19Tom Bilyeu?

  But, um, yeah, man, this, this just is true. So how do you do it? Okay, you, if you really want to push back, you've got to find a way to develop your voice independent of anybody else. You've got to get to the point where you don't need people. And this is why in this age of being able to build your own platform becomes very interesting. But I often think like, there are things that I do and say that our partnerships team hates. Because they'll come to me and be like, hey, the next deep dive, like, let me know what you're going to be doing, because we can sell advertising against that ahead of time. And I'm like, okay, cool. The next one is probably, and we're literally auditioning it right now, is probably going to be about the Biden cover up. And they're like, oh, well,

• 35:01Tom Bilyeu?

  that's political, becomes really hard for us to sell against that. And so it's like, even that is like a little nudge to get me to move in a direction. And if I weren't independently wealthy, would I be like, well, I kind of need to go that way? Probably, like, I think about that in headlines and thumbnails. I've got to draw people in. Just is what it is. So, uh, a lot of this is the tragedy of the human condition.

• 35:26Speaker 01

  Feel like there is a level of accountability that I would like, um, Jake Tapper to take that he's just kind of saying, yeah, you know, I, I'm licking my wounds. You were right. Like, Lord Trump, would you yell that means?

• 35:37Tom Bilyeu?

  He's being very politically smart.

• 35:39Speaker 01

  Yeah, it's like, yeah, you're right. You got me. But I, I, I, is that it? Is that what it really comes down to? I apologize. You guys were right. I was wrong. We should have said something sooner. Sorry.

• 35:49Tom Bilyeu?

  I mean, let, let's watch. When Democrats are next in power, do people speak up or not? Probably not, because we're, dude, people are so steeped in.

• 36:01Speaker 01

  People aren't speaking up now, like Chuck Schumer is not talking about this book.

• 36:03Tom Bilyeu?

  They are steeped in, you are on a team. So, and listen, I will routinely say to my wife, and my wife will routinely say to me, never go against the family. And it's like, that's really embedded in the human psyche. Like, I actually think you're, uh, you have to walk a very fine line with your spouse between blindly supporting and being like, "Well, that's a little unhinged." And as somebody that's on camera with their spouse routinely, I think about that a lot. Like, to what degree do I push back when I don't agree with my wife? And to what degree do I go, "This is my wife, and I'm on my wife's team."

• 36:46Tom Bilyeu?

  And now exacerbate that a thousandfold when your entire livelihood and your sense of like, "We have to preserve democracy," which I really think is an algorithm that is a total bullshit algorithm that may trick the very person saying it, but the real algorithm is, "I need to stay in power."

• 37:02Speaker 01

  Moving on, um, okay, this is a fun one I want to get to, but we'll get there.

• 37:09Speaker 01

  Elon hates this big, beautiful bill. Somebody tweeted in the comments, asked earlier, "What was Elon's tweet about?" He was talking about the massive Congress spending bill. So he tweeted yesterday, "I'm sorry, but just can't take it anymore. This massive outrageous pork-filled congressional spending bill is a disgusting abomination." Gee, the TV turned off over here, I don't know why. Shame on those who voted for it, you know you did wrong, you know it.

• 37:34Speaker 01

  Complete turn. And Konstantin, friend of the show, is actually in the comments. "I think this is what happens when a normal person is confronted with the reality of politics. It's dispiriting, infuriating in equal measure."

• 37:48Speaker 01

  This is, I think, the same thing that we're kind of coming across too, is realizing the dirty underbelly of politics that is stopping actual change and actual

• 37:59Speaker 01

  improvement of lives.

• 38:03Tom Bilyeu?

  Yeah, so, um...

• 38:07Tom Bilyeu?

  Read me the quote again.

• 38:13Tom Bilyeu?

  This is about big beautiful bill.

• 38:15Speaker 01

  Yeah, I'm sorry. I just can't say anymore. This massive outrageous congressional spending bill.

• 38:19Tom Bilyeu?

  Here, here's the thing with he's been going on a tear since yesterday. The big beautiful bill and chat when you're ready to move on, definitely let me know because pork filled means tink tink mac. That a bunch of congressmen, senators want things for their constituency that they get added to the bill. That probably doesn't belong there, but everybody wants their piece. I don't remember why it's called pork, but anyway.

• 38:49Tom Bilyeu?

  So what Elon is hyper aware of is that

• 38:57Tom Bilyeu?

  there are there are physics to money and you can ignore them if you want. And I think I put in the spreadsheet, the graph that shows it's like this isn't Tesla stock. This is national debt.

• 39:09Speaker 01

  The national debt, yeah.

• 39:12Tom Bilyeu?

  Remember every dollar that's ever come into existence came with an obligation to pay interest. And the interest is growing so rapidly. It's already like the third biggest line item in the federal budget and it will eventually be the single biggest on the trajectory that we're on right now. And so interest payments will bankrupt the company. I always call it that, the country. And once you realize, there it is. Once you realize that is so crazy. What is the timeline at the bottom? Since 94, Jesus. Okay. Oh, boys and girls. Boy, do I hope you can look at your phone, screen, computer, wherever you are right now to look at that.

• 39:59Tom Bilyeu?

  That should fill you with a sense of existential dread. One of two things should go through your mind when you see that. I hope I die soon. Or I hope we figure this the fuck out. Or I've got to get my head buried back in the sand because that number is so terrifying in its implications. Because what that says is as that number goes higher.

• 40:27Tom Bilyeu?

  Factions are going to compete for what we do. Some factions are going to say, we gotta go to war. War is so good for the economy. And Drew.

• 40:39Speaker 01

  Why? Why is war good for the economy?

• 40:41Tom Bilyeu?

  Okay, so what ends up happening is you have a system that's based on inflation. You need a reason to inflate the currency because remember you're stealing from all of your constituents. And you steal from other people around the world that hold dollars. But you always, always, always need a reason to turn the printer on. Now, what's crazy is Biden turned the printer on and nobody blinked in peacetime. Nobody said a fucking word. Insane. I don't know how we got here. I'm sure I could map it out, but whoa buddy. Uh, so normally you gotta have a really strong reason to turn it on. So war gives you the reason to turn it on. It also creates a tremendous amount of innovation because you start going, hey, we've got to do this, that and the other to beat these guys.

• 41:26Tom Bilyeu?

  So look at what Ukraine is doing in terms of innovation with drone and AI. Uh, and so even if they're not the ones doing the innovation, there are people that are creating these systems that are like, hey, I know that I've got a buyer for this stuff in, um, in Ukraine. So it creates that kind of innovation. And then also, when you find yourself in a situation where, okay, we've now printed as much as we can print, this has become completely untenable, we're going to flip the tables, uh, the money tables. People need to be so emotionally fatigued and so tired from all the death that they'll say yes to just about anything. And if you're a banker, you're like, well, we don't really care who wins because we're going to fund the winner.

• 42:09Tom Bilyeu?

  And because banking is so complicated, it always happens. As soon as like somebody wins, they're just like, well, I know they were the bad guys a minute ago, but whatever. Uh, we need somebody that actually understands this shit. And so they'll be fine.

• 42:24Tom Bilyeu?

  It's really, it's really crazy, but that's the debt cycle. And for the last 500 years, we've just been looping on this debt cycle of

• 42:34Tom Bilyeu?

  the, the interest becomes so problematic that you can't do anything. And so you end up saying, I'm not going to take this anymore. You start killing people, enough people die that you then go, cool. The people that were owed money, you're not owed money anymore. It's called a debt jubilee and those people are now destitute. They go from like, wait, I took all this risk and loaned all these people all this money. Uh, and they, I just get obliterated. Yep, sorry. And then everybody else is like, well, I owed a bunch of money, but at least now I don't owe money anymore. And we can start from zero. What they're not taking into consideration is usually the country that loses.

• 43:12Tom Bilyeu?

  It's, it's not like, oh, now we, the underclass of America are at the top of America as number one. It's not like that. It's, oh shit, America is falling rapidly in international standings. And over the next 30 ish years, we become a destitute nation. That is, there's all this internecine battle happening inside of the country. We can't get our shit together. And then in a country like China that can, they do whatever they want. Now, right now, it's not on my radar that China would want to invade the US. I can't fathom that, uh, but they do take China and then, or sorry, they do take Taiwan.

• 43:56Tom Bilyeu?

  And then that limits your ability to get, uh, chip manufacturing. And then because you just showed the world that you can't be trusted from a debt perspective, uh, and let this part sink in, then businesses flee. They don't want to invest in you. So chip manufacturing doesn't happen here and you suddenly become the country that can't get a hold of the dope new chips. People do not understand how fast that flip happens and how dramatic and bad it is. People will risk their lives to get to America because, because we are number one, because we are the reserve currency, because we are a democracy, and we don't believe in that anymore. We, you, when you get born into a system, you just assume that this is the law of nature and that America is always going to be like this, and it isn't true.

• 44:41Tom Bilyeu?

  And you have to fight like hell for the principles that build that nation.

• 44:45Speaker 01

  Do you, do you agree with Elon about the criticism of this bill?

• 44:49Tom Bilyeu?

  Yeah, I don't know the bill well enough to be like, I agree on every point. But what I know is if you're going to expand the debt by $5 trillion, the deficit, if your deficit spending goes up by $5 trillion over the next, whatever, 10 years, you have a grotesque abomination, is that what you call it? You have an abomination. So you just can't do that. So when you're in a situation where you absolutely have to have debt, expanding debt for the system to survive, your only hope is to slow that expansion down as much as humanly possible. And anybody that wants to accelerate that is your enemy.

• 45:32Tom Bilyeu?

  And right now, Trump is trying to, I don't know if he's accelerating it, but he's not doing enough to slow it down. And it really seemed like he was going to. So that makes me very sad.

• 45:42Speaker 01

  All right, I gotta hit the fractal. Okay, we got a couple of questions as he broke down the monetary policy that came in. So I want to just kind of-

• 45:50Tom Bilyeu?

  You want me to fractal, or you think it was fractal?

• 45:52Speaker 01

  That was a fractal, because we, away from the bill, it's kind of the way the money system works.

• 45:56Tom Bilyeu?

  Yep.

• 45:57Speaker 01

  Vaticus, Tom, just a thought, but is it possible to curtail the debt of imaginary with the profit made from some business endeavor, which also creates imaginary money? So since money is not real, and we can just make it poof out of thin air.

• 46:10Tom Bilyeu?

  Yes.

• 46:11Speaker 01

  Can't we also make some other money poof out of thin air to pay for that money?

• 46:14Tom Bilyeu?

  You don't make the money poof out of thin air. Poofing the money out of thin air is the problem.

• 46:19Speaker 01

  Got it.

• 46:19Tom Bilyeu?

  People's fear of the real solution is the problem. Like, people will actually look at me with a straight face, and they will say the following sentence: "Deflation is bad, Tom."

• 46:32Tom Bilyeu?

  Motherfucker, are you serious? You're telling me that you want the price of gas to go up over a 50-year period instead of going down with innovation? You want the price of your TV to go up instead of down with innovation? Is that really, that's the message? Here's the problem. Eating fat doesn't make you fat. Eating cholesterol doesn't create cholesterol in the body. Innovating and making something cheaper does not create the crisis-led deflation that people are worried about.

• 47:13Tom Bilyeu?

  The government is confiscating all of the innovation, plus 2%, that's their aim. So, you should be, everything should be getting cheaper and cheaper and cheaper and cheaper and cheaper. Without AI, this is fucking innovation. Yeah. It's not, and it's not because the government robs from you. So, what Elon is saying is, "I'm not even gonna fucking engage with cost-cutting anymore. You guys don't wanna fuck you." So, what I'm gonna do is I'm gonna go grow GDP. And GDP is where you, I mean GDP is a proxy. What you're really doing,

• 47:56Tom Bilyeu?

  you're making more things for people to buy with the money that's already been printed. The reason that money inflates is because you have more money competing for the same goods. So, if I said, "There are four apples and you each have a billion dollars", you can imagine, all of a sudden, that apple becomes worth a tremendous amount.

• 48:23Tom Bilyeu?

  Or you could say a billion dollars don't buy what it used to. A billion dollars is meaningless. Yeah, because it's really just about like there's however many people. There's only four apples. And if there's a hundred people all with a billion dollars competing for four apples, they're just going to bid against each other until we find the market price for that apple, where somebody wants that apple badly enough. And let's say, uh, five or six people are literally starving to death and the apple's the only food. Well, those five or six people are going to fucking compete for that apple. Now, innovation is, uh, there's a hundred of you and we're going to make a hundred apples. Now, all of a sudden, the billion dollars is rebalanced and the billion dollars itself

• 49:06Tom Bilyeu?

  feels like it's worth more because you don't have this, the apple stops being a scarce resource. So those billion dollars aren't competing for the same four apples. They're now competing for an expanded apple supply. And so now the two things move in lockstep. So if you can make the same amount of things that people want to buy at the rate that you inflate the money supply, then the money supply doesn't inflate. Or it doesn't feel like it inflates is the right way to say it. Um, so I'll stop there.

• 49:36Speaker 01

  But can't we, that's like the reevaluation of gold proposal. Like since we are owing money to ourselves.

• 49:43Tom Bilyeu?

  You're never repricing gold. I want to be very clear. You're repricing the currency against gold, which has been stable for.

• 49:51Speaker 01

  Gotcha.

• 49:52Tom Bilyeu?

  Dude, a thousand years. It's been stable for a very long time. It's like it, a nice formal toga costs, let's say, an ounce of gold and a nice three-piece suit now costs, guess what? An ounce of gold. It, it is freakishly static. So when you're seeing the, and this is why people have to understand purchasing power, Drew, the, whenever I try to tell people how this actually works, I know I lose people with every additional fact about money and inflation. Purchasing power is what people have to understand. So I liken it to coffee. And caffeine.

• 50:31Speaker 01

  Mm hmm.

• 50:31Tom Bilyeu?

  So there's, let's say that you order an espresso shot. The espresso shot has a certain volume of liquid.

• 50:40Speaker 01

  Mm hmm.

• 50:41Tom Bilyeu?

  Now, if I say, I'm not going to change your volume of liquid at all, but I'm going to add water to it. Necessarily, I'm pushing out the caffeine.

• 50:51Speaker 01

  So it'll be more water down, less caffeine in the cup, yeah.

• 50:53Tom Bilyeu?

  And so, yeah, sure, you still have a thousand dollars in your bank account, but instead of having a thousand dollars of purchasing power, caffeine, it now has, let's say, eight hundred dollars of purchasing power. So still a thousand dollars, but it only buys the equivalent of eight hundred dollars worth of stuff. But that's just counterintuitive enough that you lose people. But purchasing power is all anybody should ever care about.

• 51:17Speaker 01

  Yeah. Um, pulling up the big, beautiful bill right now, there's, this is just the deficit increase and decrease, kind of going through the different committee and major sub items. This Ways and Means Committee, this has to do with the taxation and the revenue of the government. So this is where a lot of scrutiny is coming from, where he's extending, extending and expanding the pay cuts.

• 51:39Tom Bilyeu?

  He in this scenario is Trump?

• 51:41Speaker 01

  Is Trump, yeah, from 2016 and introducing another round currently. Um, repealing certain taxes and exemptions, uh, changing the tax code pretty much is this top part. So there's a lot of things that are happening that is to change how the government takes money from its, and, um, from its, uh, um, people, I'm blanking on that word. Um, and instead-

• 52:05Tom Bilyeu?

  How the government takes money from its people?

• 52:07Speaker 01

  How the gov- How the government taxes people through, uh, exemptions, that's the word. Um, there are changes to exceptions. So I don't want to get into like a how to do your taxes one on one, but the exception limit is now changing and then-

• 52:18Tom Bilyeu?

  I have a feeling none of that matters. All that matters, this is where, uh-

• 52:24Tom Bilyeu?

  Don't allow yourself to say, "I don't understand the bill and therefore I can't give you an answer." Instead, go, "I don't know the specifics of the bill, so let me give you my abstracted principles." "My abstracted principle is, you need a balanced budget." "Okay, so how do I know this bill is bad? Because it does not balance the budget." "Okay, cool. How do you want to balance the budget?" Some people will say, "Yeah, you gotta get way into the weeds and you've gotta find those sayings that aren't good." The reality is, all of your money goes to entitlements. Okay, so if you want to balance your budget, then you're gonna have to cut entitlements. So how do you cut entitlements in a way that's fair?

• 53:06Tom Bilyeu?

  Rand Paul has suggested just cut 6% of every single item in the bill, no matter what you're looking for. Entitlements, underwater basket weaving, whatever. Everything's just cut by 6%. Now, that seems easy. People aren't gonna vote for it, I'm well aware of that. But in terms of like, "That's fair, nobody gets to complain, we have to have a balanced budget, everybody, we're off by 6%. Everybody takes a 6% haircut." Cool, donezo, got it! And it's like, that, people are never gonna go for that. Even when we were talking about this yesterday, I could tell you don't like the idea of somebody losing Medicaid, I think was the one that you mentioned.

• 53:50Tom Bilyeu?

  And it's like, "Bro, you cannot bankrupt the country."

• 53:55Speaker 01

  I know, but my, my problem with that argument is that when we have to go through the weeds to actually get to the-

• 54:00Tom Bilyeu?

  Why? What do you think you're gonna find in the weeds?

• 54:02Speaker 01

  I, I think there's better ways to cut the budget.

• 54:03Tom Bilyeu?

  Doze tried. Doze was like, "Listen, there's like fraud, waste and abuse, we got you." And people went fucking haywire.

• 54:10Speaker 01

  And but that's the point, is that Doze tried, but they didn't do anything.

• 54:14Tom Bilyeu?

  Why?

• 54:15Speaker 01

  Because the same people that they audited are part of the, are part of the problem.

• 54:18Tom Bilyeu?

  False.

• 54:19Speaker 01

  I, I disagree, yeah.

• 54:21Tom Bilyeu?

  Drew.

• 54:21Speaker 01

  USAID didn't get a dollar taken away from it. Why? Because everybody getting paid from USAID.

• 54:25Tom Bilyeu?

  Drew, entitlements.

• 54:27Speaker 01

  No.

• 54:28Tom Bilyeu?

  Entitlements, discretionary funding is what, 20% or 30% of the budget?

• 54:31Speaker 01

  I, I pushback on it. Entitlements is, entitlements is an easy thing to blame, so that way they could take-

• 54:36Tom Bilyeu?

  What do you mean, "easy thing to blame"?

• 54:37Speaker 01

  It's an easy thing to point at and say, "We just increased the-"

• 54:39Tom Bilyeu?

  Entitlements, military and interest, what else is there? Those three things are some ungodly percentage of the budget.

• 54:47Speaker 01

  The Trump tax cuts alone, $2 trillion.

• 54:52Speaker 01

  Over the next 10 years. So if we just simply cut those, that's 2.1 right now. So now this bill goes from 3 trillion

• 54:57Tom Bilyeu?

  Can I, can I say what you just said? Dear America, fuck you, give me your money.

• 55:04Tom Bilyeu?

  That's what you just said.

• 55:06Speaker 01

  You know that's not what I said.

• 55:07Tom Bilyeu?

  That is what you said.

• 55:08Speaker 01

  You know that's not what I said.

• 55:09Tom Bilyeu?

  Drew, people do not understand what taxes are. Taxes are, you did a thing, thank you for adding value to the economy, fuck you, now give me some of it.

• 55:15Speaker 01

  Okay, that is what taxes is. That's what taxes in America is.

• 55:18Tom Bilyeu?

  That's what taxes everywhere are.

• 55:19Speaker 01

  Go to another country, do the same thing and ask for a better tax rate then.

• 55:22Tom Bilyeu?

  What?

• 55:23Speaker 01

  Like, I, I feel like that, that's a cop out.

• 55:25Tom Bilyeu?

  That's what taxes are. So it's like, listen, I'm perfectly hap- tax me. I love it. Tom Bilyeu has paid an absurd amount in tax. And I have been clowned on by my accountants for not running more sophisticated schema. And I'm just telling you, not my bag. I don't want to be looking over my shoulder. A- as they say, everything works until you get audited. Ha. I don't want to play that game. So, I'm all for tax, but I would really like my taxes to go to things that yield high-quality outcomes. The government is wildly inefficient and people are just saying, give them more money. And I'm saying, that's dumb.

• 56:02Tom Bilyeu?

  Don't give the government more money. Make the government more efficient, yes. So, dear government, you can't, 6% of my money, you are going to give back. Now, I'm open, honestly, on where you're gonna find the 6%, but you're giving me my 6% back. If I knew that like, we were gonna get a balanced budget, I'd kinda check out of the process. I'd be like, yeah, the specifics of it, like, for wha- whatever. Like, what I care about is

• 56:31Tom Bilyeu?

  great irony of my life, because I don't have kids, is all I think about is Lynn. Day and night, I gotta make sure that Lynn's future is protected. Now, I'm sort of being tongue-in-cheek, but not.

• 56:42Speaker 01

  Yeah, a little bit.

• 56:43Tom Bilyeu?

  The kids, Drew, it's about the fucking kids. And if you don't balance the budget, the 36 trillion just gets worse and worse and worse and worse and worse. 36 trillion is already terrifying. But making it 36 trillion and a dollar is worse. So, we gotta get people to fucking chill. So anyway, it feels like Tom is lying. Ma- Junto? Justo? Justo, I dare you. I double dare you, right now, unless you're joking, to say what part of what I just said you think is a lie.

• 57:16Speaker 01

  Uh, it's, the thing that frustrates me is that

• 57:22Speaker 01

  We're having a conversation, but we're not thinking of all the solutions that could get that can solve this problem, right? So if I say, let's start at zero, the government has to collect-

• 57:35Tom Bilyeu?

  Hold on. Justo, okay, this, I derail myself. He thinks I'm simping for Trump's bill. I don't understand how this is possible. I'm saying Trump's bill is fucking dumb. What, what the fuck? Anyway, I'll stop.

• 57:47Speaker 01

  Trump's-

• 57:47Tom Bilyeu?

  He's either trolling-

• 57:49Speaker 01

  You're against the big, beautiful bill. Cause you said-

• 57:51Tom Bilyeu?

  Obviously-

• 57:52Speaker 01

  You said earlier, I don't know enough about it to actually say if it's good or bad.

• 57:55Tom Bilyeu?

  Drew, how dare you?

• 57:58Speaker 01

  You just-

• 57:58Tom Bilyeu?

  I literally just said the words that if you're not sure what the specifics are, it is a cop out to be like, I don't know. So the right way to play it is to say-

• 58:08Speaker 01

  Balanced budget, yes. Balanced budget, no.

• 58:10Tom Bilyeu?

  Principles. What is my principle? Don't deficit spend. This bill deficit spends. Therefore, by its nature, it's a problem. I don't have to know anything more than they would like to deficit spend. Hard pass. Nope. Bad. Uh, then I said Rand Paul has put forward a solution that works for me, especially because I have not like gone deep into this. They're just 6% across everything. We have a 6% delta. Do a 6% across everything. Cool. I'm here for it. Now, if I knew, this is me repeating myself, if I knew that constitutionally, we had to have a balanced budget, then I'd be like, let people fight over what they want to remove. Honestly, I don't care. As long as the budget is balanced. And of course I care, but it's like, you have to limit the number of things

• 58:55Tom Bilyeu?

  you pursue and the balanced budget, I care about deeply. Where, the only thing is every time I say that sentence, I'm like, but I do care about education for kids, but I care about high impact education for kids, which we do not currently have.

• 59:07Speaker 01

  Uh, femboy Pam just might had the comment of the day.

• 59:11Tom Bilyeu?

  Let's go. Femboy, this better be good.

• 59:12Speaker 01

  Remember when Jaco said 36 trillion dollar deficit? Good.

• 59:19Speaker 01

  Yeah.

• 59:20Tom Bilyeu?

  I think he means it a little bit differently.

• 59:22Speaker 01

  I love those words.

• 59:23Tom Bilyeu?

  He means it a little bit differently.

• 59:25Speaker 01

  Okay.

• 59:25Tom Bilyeu?

  But sure.

• 59:30Speaker 01

  So we want to cut the budget. We want to cut the deficit down. But we only want to cut it if we taking it from entitlements. We don't want to cut the extra.

• 59:38Tom Bilyeu?

  Nope, nope, nope, nope. So, one more time.

• 59:41Speaker 01

  Okay.

• 59:41Tom Bilyeu?

  I, easy answer is just 6% off everything. What I'm saying is the reason that I keep bringing up entitlements, it's such a big number, you won't get to a balanced budget as a matter of physics unless you cut entitlements. Period.

• 1:00:01Speaker 01

  The, the thing about that though, right, is there's one thing to have a credit card balance that's filled with the entitlements.

• 1:00:09Tom Bilyeu?

  Hmm.

• 1:00:10Speaker 01

  It's another thing that when we're discussing a spending bill over the next 10 years, what we're adding and removing from that bill.

• 1:00:17Tom Bilyeu?

  So, so you're saying, I care deeply. Can, can we get on board? You and I both agree, balanced budget is a must.

• 1:00:25Speaker 01

  Yes.

• 1:00:26Tom Bilyeu?

  Okay, cool. So now you're saying, Tom, you're gonna check out because you don't care about the specifics.

• 1:00:31Speaker 01

  Hmm.

• 1:00:31Tom Bilyeu?

  And I, Drew, am gonna go in and find the precise places to cut so we can leave entitlements alone, but make sure that we have a balanced budget.

• 1:00:40Speaker 01

  I'm just saying that it is possible to balance a budget without cutting entitlements.

• 1:00:43Tom Bilyeu?

  Got it. And I'm saying, the realities of the political machinery is that the answer to that question is no. In this moment, right now, it is impossible, just in the reality, it is impossible to cut enough of the other programs to both have a functioning political apparatus, meaning get reelected.

• 1:01:06Speaker 01

  Hmm.

• 1:01:06Tom Bilyeu?

  And do that. How do I know? Because the single greatest technologist and capital allocator of our time went into the government and said, uh, here are all the things we found. Here's what you're gonna have to do. And they firebombed his companies, drove his stock price to like terrifying lows. Uh, were threatening to take his life, and he's not even a politician. So you can imagine, a politician is gonna be like, oh, that stove is really hot. I'm gonna take my face off the grill. So, uh, it, it just isn't.

• 1:01:38Tom Bilyeu?

  It's not real. And so from a like, it reveals Drew's value system. Cool, heard 100%. You like to fight for people. You, I think, and you'll correct me if I'm wrong. But I believe that Drew believes that if you're getting entitlements, you are vulnerable and you need to be protected. And that the role of the government is to protect the most vulnerable.

• 1:02:04Speaker 01

  I think safety nets are important. And I think the bottom percent of the population, I call them the exhaust of capitalists, of capitalism. They're going to need that, just like an engine, as powerful and as fast and as amazing as it can take you, it still has an exhaust. Every, every system in biology, when you inhale oxygen, you exhale carbon dioxide. There's also, there's a level of waste dispersed. There's a level of energies consumed and things fall out of that system.

• 1:02:37Tom Bilyeu?

  Yep.

• 1:02:37Speaker 01

  And I think that whether in socialism, capitalism, whatever system we're in, there is going to be a percentage of people that have it the worst.

• 1:02:43Tom Bilyeu?

  And do you think, what system has the most acceptable exhaust?

• 1:02:52Speaker 01

  Capitalism has the lowest exhaust I've seen.

• 1:02:54Tom Bilyeu?

  Okay. Do you think America is a capitalist system?

• 1:02:57Speaker 01

  I think America is a socially capitalist system.

• 1:02:59Tom Bilyeu?

  Yeah.

• 1:03:00Speaker 01

  I'll call it socially capitalist.

• 1:03:01Tom Bilyeu?

  Okay, I'll give you that. Cool. So you're just saying, hey, it's the best system. It's a terrible system, but it's the best.

• 1:03:09Speaker 01

  I wouldn't use the word terrible. I like capitalism. I think crony capitalism is what's fucking us up. But I think that's a different conversation.

• 1:03:16Tom Bilyeu?

  I'm just trying to figure out if you think the system that we have is good but flawed?

• 1:03:20Speaker 01

  Yes.

• 1:03:20Tom Bilyeu?

  Okay. So the best on the planet but flawed?

• 1:03:26Speaker 01

  Yes.

• 1:03:26Tom Bilyeu?

  So not the best it could be. I think we both agree on that. But the best functioning?

• 1:03:30Speaker 01

  Out of the four that we've seen tried in the last three millenniums, yeah, it's the best one.

• 1:03:36Tom Bilyeu?

  Okay. I need to look deeper at Singapore. That's my only reservation, but cool. Okay, so we agree there. And then it just becomes the, you see entitlements as the exhaust of capitalism. Great system, but has flaws. We need to take care of those people. Safety nets matter. Cool. And you don't think that we can make a single cut? To entitlements.

• 1:04:01Speaker 01

  I think it's a lazy way to start there.

• 1:04:02Tom Bilyeu?

  Okay, do you feel any kind of way about how much lower entitlements were in 2018?

• 1:04:10Speaker 01

  Do I feel any way about how much lower it was in 2018?

• 1:04:13Tom Bilyeu?

  Literally less than 10 years ago.

• 1:04:14Speaker 01

  I feel the same way about how the US dollar was much lower in 2018.

• 1:04:19Tom Bilyeu?

  Yes, but as a percentage of federal budget, it's gone up. That doesn't bother you. You're like, finally, we are taking care of those people that were being left behind.

• 1:04:28Speaker 01

  But as a percent of federal budget, that number should go up because of inflation and the cost and of living and how.

• 1:04:36Tom Bilyeu?

  If it were more people that qualified, would that be troubling to you?

• 1:04:40Speaker 01

  More people qualified for Medicaid in 2025 than in 2018?

• 1:04:46Tom Bilyeu?

  Yeah, I think technically 2019, but I'll.

• 1:04:48Speaker 01

  Don't we have a reverse pyramid population where we have more old people than young people? So doesn't that make sense?

• 1:04:52Tom Bilyeu?

  We're a column.

• 1:04:53Speaker 01

  Yeah.

• 1:04:54Tom Bilyeu?

  It's not a reverse pyramid yet, but it's on its way.

• 1:04:56Speaker 01

  Yeah.

• 1:04:57Tom Bilyeu?

  So you're like, this is, something happened magically in 2019.

• 1:04:59Speaker 01

  I feel like that's a population question. That's not a.

• 1:05:02Tom Bilyeu?

  I'd have to look more closely at it. So you're running a mental map of like, this is just an aging thing. It is what it is.

• 1:05:08Speaker 01

  That's what everybody saw when I had babies, right? Cause we're aging, we're becoming.

• 1:05:12Tom Bilyeu?

  Yeah.

• 1:05:12Speaker 01

  Boom, there's more boomers than there are Gen Alpha or Gen Beta, whatever number we're at.

• 1:05:16Tom Bilyeu?

  There are more reasons than that, but sure.

• 1:05:18Speaker 01

  Okay.

• 1:05:19Tom Bilyeu?

  Uh, just because it takes 18 years for them to become economically viable. Okay, um, so no distress for you whatsoever. That's interesting. So you and I mentally map that very differently.

• 1:05:29Speaker 01

  I do map it, yeah.

• 1:05:30Tom Bilyeu?

  Uh, that we have low expectations of our own populace. That we have been number one for so long, we forget that you have to fight like hell. And that the way that we got here was by being the collection point for the most hardcore motherfuckers from all over planet earth who believed in freedom and desperately wanted opportunity. And when we were that country, still have flaws and all that, trust me. But we really had an ethos that allowed us to climb to the top of the heap. And we've lost that ethos and we are going to get slapped off the top of the mountain and that is not going to be fun. And as we tumble down the side of the mountain, it is going to be bloodshed. Everywhere.

• 1:06:13Speaker 01

  You don't think entitlements and meritocracy can coexist?

• 1:06:16Tom Bilyeu?

  I think they can and do and will. I think the problem is that that's not the part of the arc that we're on right now. Is we have completely abandoned personal responsibility and a demand, a demand for personal responsibility and a demand for, um,

• 1:06:37Tom Bilyeu?

  like, economic output.

• 1:06:39Speaker 01

  What, what, what is, how do you define entitlements?

• 1:06:42Tom Bilyeu?

  Entitlements are payments that the government absolutely must make to people that qualify, who are no longer, it's not always no longer, because some of it is, it might be no longer. I'll, I'll have to look at that. Uh, that no longer are

• 1:07:02Tom Bilyeu?

  in the pool of people that we make the demand that they just contribute and meet the needs of their own life.

• 1:07:09Tom Bilyeu?

  So it could be you can't afford healthcare. It could be, uh, you're retired now. It could be a whole host of things, but we are not expecting you to either contribute to that system or to...

• 1:07:20Speaker 01

  But all those people who are, did contribute to the system every time that somebody...

• 1:07:23Tom Bilyeu?

  You know that's a lie, right? Please tell me you know that's a lie.

• 1:07:26Speaker 01

  So where is my Medicare, Medicaid, social security?

• 1:07:29Tom Bilyeu?

  You're paying into it, but you're paying into a scheme that does not require that everybody that's in it paid into it. I, I'm out over my skis. I am no longer confident in my answers. I want to be very clear. I will have to look at this, but I'm almost certain that that is true.

• 1:07:44Speaker 01

  Okay, so, um,

• 1:07:48Speaker 01

  I want to get very specific about definitions.

• 1:07:51Tom Bilyeu?

  I can see a deep dive coming, by the way. Can we, like, write this down so I don't forget this? Uh, doing a deep dive into entitlement spending.

• 1:07:59Speaker 01

  I'm going to slide it to you because I'm going to forget because I really want to make this point. Um, because I think that the term entitlements is kind of crazy in, in general. I think entitlement is bad and I don't think anybody should be entitled. And I think because you're 67 and you're on social security and Medicaid, that doesn't mean you're not a badass motherfucker. You could have been the most badass motherfucker from 21 to 64, but now you're just retired and you're limited income. And I think it's okay to go into the sunset and become a nanny and how about, and you're looking for...

• 1:08:28Tom Bilyeu?

  So do I. Do you have a problem bumping that up two or three years?

• 1:08:32Speaker 01

  From, it's 67 right now, so bump it up to 70?

• 1:08:35Tom Bilyeu?

  Sure.

• 1:08:36Speaker 01

  Okay, um, okay, um...

• 1:08:41Speaker 01

  As like a business owner,

• 1:08:47Speaker 01

  when you hit tough times, it's easy to, you do like an audit of like, okay, something's not working, the budget isn't balancing. What's my biggest expenditure? What's my biggest profit lever? How can I play those knobs and do all those things, right? In companies, it's easy to say, okay, labor, seventy percent of my costs, everything else is at thirty. So it makes sense, if your company is losing two million dollars a year, you're not gonna say, okay, guys, we're only going one ply toilet paper, that's how we get out of this deficit.

• 1:09:17Tom Bilyeu?

  I agree.

• 1:09:18Speaker 01

  So I understand that it takes bigger cuts to really make a dent on certain things.

• 1:09:24Speaker 01

  But in a system that currently, like it or not, takes money from my check and labels it social security, and then to say, from a government spending perspective, we need to now cut social security.

• 1:09:41Tom Bilyeu?

  Yeah.

• 1:09:42Speaker 01

  I don't know if that's necessarily gonna equate a cut into my check.

• 1:09:45Tom Bilyeu?

  Here's the thing, I love that you brought up a company, because here's what people are not realizing about the country. Unions will do this to companies from time to time, where they're like, nope, you're going to pay us this amount. And the company's like, great, then we're going out of business, and you all get fucking nothing. People do not seem to understand, countries can and do go broke. And at that point, no one gets entitlements. So I'm saying, we gotta find a way to close that delta, so that we can keep paying entitlements. But if to keep the system afloat, you've gotta let some people either stay in their job longer, or lose their Medicaid, or be forced to start applying for jobs again, then that's what you do.

• 1:10:29Tom Bilyeu?

  In business, you realize very quickly, it's the organism over any one role or person. Because in trying to take care of everybody, if the whole company collapses, then I can't take care of anybody. So what I'm saying is, the country has to go,

• 1:10:48Tom Bilyeu?

  that graph does reach a point at which the whole system implodes, and then nobody gets anything. And so, it's, when I hear arguments like I'm hearing from you, it is as if you don't realize that this will hit a point, where it just, the government defaults on his debt, like, imagine for a second, this whole money printing thing, it is...

• 1:11:11Tom Bilyeu?

  A pyramid scheme that relies you have confidence in the government. The second, and the whole world believes in America. This is why what Biden did to Russia was so fucking dumb. Because all of a sudden, we realize, oh, they'll freeze our money. Uh, yeah, I'm not gonna own their debt then, because they control my money. Whoops. So now, if you default, if you, America, default on your debt, the world stops buying your debt. Americans stop buying your debt. And now you can't print money, because without wild inflation. Because what ends up happening is nobody wants your debt. And so now, every dollar that goes into meeting the demands of the debt is made up.

• 1:11:54Tom Bilyeu?

  Whereas now, at least some massive percentage of the dollars that buy the debt are, they were always funny money. But at least it's not new funny money. It's the same funny money being allocated to the debt. Uh, and so this will become an inflationary spiral that takes the country down. This happens all the time.

• 1:12:15Speaker 01

  I understand that. I, I, I don't have a quarrel with taking, reducing the deficit. I think the deficit could be reduced. I think the deficit could be reduced, and I think the economy can thrive. Cue the 90s. So it, to me, it's just when we talk about having an honest conversation about the deficit. We don't talk about the extra 150 billion dollars going to the military. We don't talk about the 2.1 trillion that these tax cuts are gonna cause us over the next 10 years. We're not gonna talk about the expanded standard deduction that's gonna cost 1.3 trillion over the next 10 years.

• 1:12:46Tom Bilyeu?

  So let, let me, I wanna restate your position. Uh, military.

• 1:12:52Tom Bilyeu?

  Yeah, we can probably cut that. Fuck that. Make, make do with what you got. Cool. Be more efficient. Uh, at, at a knee jerk, I don't have any big pushback. Obviously, China's looming, but I'm very open to being like, there's gonna be so much inefficiency, get your shit together. Cool, no problem. Um, where this gets weird is this idea of like, tax breaks are bad. And the algorithm that runs in my mind is very simple. The government is...

• 1:13:21Tom Bilyeu?

  So inefficient with money, it's immoral. And the people who don't want to see tax breaks are saying, dear Americans, pay more money to make up for the inefficiency. That's because I already believe that the inefficiency of the government is immoral and forces the confiscation of people's hard earned money. I'm just like, dude, that is so anathema to my value system. Now, as I remind my wife all the time when we collide over values, I will say, my values aren't right, but they are mine. So I don't expect you to adopt my value system. But boy, oh, boy, do I have it.

• 1:14:05Tom Bilyeu?

  And when I look at that, I'm just like, every time I hear, I'm like, what people are saying is, I don't give a fuck how inefficient the government is. Take and take and take from hardworking Americans. I'm even staying away from the tax, the billionaires and all that shit, which becomes a totally different thing. And it's what Michael Malice calls a mousetrap that goes off in people's minds. People don't even understand what that wealth is, whatever. I'm not going to get into that argument. Just think about the average fucking person working a job to make ends meet. You're saying you're going to be taxed more. That's outlandish. It's immoral from where I'm sitting, again, at the individual level. At the system wide level, it's amoral.

• 1:14:43Speaker 01

  The unfortunate thing is that average person is already getting taxed.

• 1:14:47Tom Bilyeu?

  That's what I'm saying.

• 1:14:47Speaker 01

  Their taxes isn't going to change by cutting, by cutting this.

• 1:14:50Tom Bilyeu?

  What? So you think these taxes are just for wealthy people?

• 1:14:55Speaker 01

  Have you not seen the breakdown? That's where this conversation is at. Cause the, the tax rate where this starts, where you're going to actually start getting a tax rate is 98,000 and above.

• 1:15:05Tom Bilyeu?

  Hold on, so you think 98,000, fuck you.

• 1:15:08Speaker 01

  I'm not saying 98,000 is a fuck you, but I'm saying that, I'm saying the average median price, uh, wage in America is 60 grand.

• 1:15:15Tom Bilyeu?

  Who the fuck cares about that?

• 1:15:16Speaker 01

  So the 90 grand people, if you get the backlash, you get the backlash. But that's not the, you're, you're, you're, cause you're making it seem, you're making it seem like a majority of Americans are going to get kicked in the nuts when this tax break comes.

• 1:15:27Tom Bilyeu?

  Let's just be very clear.

• 1:15:28Speaker 01

  Good.

• 1:15:29Tom Bilyeu?

  I don't want to air your dirty laundry, but this is going to impact you.

• 1:15:32Speaker 01

  Yes.

• 1:15:33Tom Bilyeu?

  So do you feel like, yeah, fuck me?

• 1:15:36Speaker 01

  But I want my, what's the Chappelle, my money, I need my money, please. Like I, I'm okay with giving back a little bit more if I can help other people. Yes.

• 1:15:45Tom Bilyeu?

  Wow.

• 1:15:46Speaker 01

  Yeah.

• 1:15:46Tom Bilyeu?

  That is. Boys and girls, Drew off camera is even more amazing than he is on camera. For real, for real, Drew, but holy shit. You, I think, have a value system that is going to lead you into a very dark place, which is because I Drew am moral and I want to see these people do well and will therefore pay more money. I'm perfectly okay with giving money to a corrupt, Tom Billy's words, I know they're not yours, a corrupt system that uses that money in some wildly nefarious ways. And I'm okay that they're gonna keep doing that.

• 1:16:32Tom Bilyeu?

  And I will pay more and I will ask other people in my situation to pay more without absolutely putting my foot down and saying, nope, I'm not giving you more until you make this machine uncorrupted, or at least trending in the right direction and

• 1:16:50Tom Bilyeu?

  efficient.

• 1:16:51Speaker 01

  Okay, I'm, I'm getting confused. Let's, there's two things. There's the spending bill, which for chits and giggles, let's call that the budget going forward of America. And then there's the deficit. Let's call this a credit card bill that we owe a bunch of different people, right? In order to pay your credit card bill, you need to have a surplus with the, with the spending budget. So by no means am I saying if we increase the tax, it's going to turn this deficit into zero. No.

• 1:17:30Speaker 01

  But what I'm saying is if we're proposing a new spending bill, what we're doing going forward is gonna make this number go up higher. We shouldn't include it in this bill. And my thing is, even if it is those tax cuts. Because although I'm keeping more of my money, the system is still inefficient. This thirty-seven is still gonna keep getting higher. We're in the same spot. So now we're in the same spot, but I have fifteen hundred dollars more a year, so I'm good. Fuck y'all. But when America goes down, what is that fifteen hundred dollars gonna do for me? Nothing. So then it becomes, if we can take a step back, eat the bitter pill, go through it, then maybe, this is me being optimistic.

• 1:18:13Speaker 01

  This is me projecting on the hope that I have in my heart. Maybe one person on the politician's side can gain some balls and take that step up that they're asking me to do by-

• 1:18:22Tom Bilyeu?

  Let me see if I can radicalize you.

• 1:18:23Speaker 01

  Mm-hmm.

• 1:18:25Tom Bilyeu?

  We take in, I think just over, it's either just over or just under four trillion dollars in taxes.

• 1:18:34Tom Bilyeu?

  We owe thirty-six.

• 1:18:39Tom Bilyeu?

  Drew, you know how many years of taxing the economy at double what we're taxing them now? You would have to do to bring that down? Do you know how many years you'd have to tax the economy at a hundred percent to bring that number down?

• 1:18:56Speaker 01

  And I'm not proposing to do any of those things.

• 1:18:58Tom Bilyeu?

  I know, but I'm just saying.

• 1:18:59Speaker 01

  Yeah.

• 1:18:59Tom Bilyeu?

  That the mentality of just keep taking a little bit more tax from the American people. Take more tax from the American people. More tax from the American people, rather than fixing the system, is how you get thirty-six trillion dollars in debt. This is, the people get to where you're at because they're not tracing cause and effect. Cause and effect is, man is a political animal. Will promise people things for free to get into power.

• 1:19:21Speaker 01

  Mm-hmm.

• 1:19:22Tom Bilyeu?

  Then they will cram bills with pork to get re-elected. And because we have a monetary system that allows for the creation of fake money, they literally just inflate the currency to nothing. And because that process happens at like roughly two percent a year, even though it's dramatically more than that, because they're eating up innovation plus two percent,

• 1:19:47Tom Bilyeu?

  it happens just slowly enough that people don't care. Every country that's gone through this before us,

• 1:19:53Speaker 01

  Mm-hmm.

• 1:19:54Tom Bilyeu?

  They end up, at some point in history, there's just a catastrophe. And-

• 1:20:04Tom Bilyeu?

  To look at the certain knowledge that that catastrophe will happen. And go, ah, but just keep doing what we're doing because it probably won't happen on my watch.

• 1:20:17Tom Bilyeu?

  I can't get behind that. And that is what people are doing. You, you have a corrupt inefficient system and you're lobbying to give it more money. I'm just saying, mm hmm. This is where people start throwing things into the, the tea into the river because they're just like, no more. Boys and girls, we have, uh, every week we are doing the deep dives. If you would, take a look at them. Uh, we will, uh, essentially workshop ideas here partly to see if you guys care about them. Um, so today we were workshopping the Biden cover up. It's something that I think the way that people are talking about it is not the thing to take away from it. Uh, and so that will probably be the next one that I do. We will

• 1:20:59Tom Bilyeu?

  see, I never know, somebody, I have to really feel it emotionally. Uh, another potential one would be the collision of, um, values. So, um, as we get, uh, massive influx of people with, um, that you see in the West with Islamic values. So we'd have to really tease apart like Islamist Muslim. Anyway, you get the idea. Uh, that's another one. So what are things you want to see me do a deep dive on? Uh, a one that could be interesting is, um, why do people get so weird about Jews? Uh, I think that could also be interesting. I'm reading about the, um, Rothschild family. Absolutely fascinating. Way more chill than I think people think it is. Uh, there's a great book by Neil Ferguson on it called

• 1:21:44Tom Bilyeu?

  The House of Rothschild. And, um, that's been a really like measured breakdown of it. That's like, takes sort of all the sinister out of it, uh, and feels excruciatingly believable. Um, I don't know. Supposedly they have a secret island. Anyway, whatever. You get the idea. Um, so put forth those ideas. There'll be things that we'll workshop here. Uh, if you were here at the beginning today, we were specifically workshopping the Biden cover up as a way to see if there are legs for a deep dive. Uh, felt good, felt interesting to me. Um, so, uh, yeah, we'll see. Anyway, the more. Sorry, choking to death. The more you guys engage with that, the better. The more we'll know that we either are or are not on to something. And the more that you engage with them on YouTube when we drop them, the more it helps.

• 1:22:28Tom Bilyeu?

  Because if, if as a, they take me for fucking ever. So as a format, they have performed successfully, successively better. So that's very encouraging, but the more of you that watch them, if you like them, the better, as that will send us a much more clear signal. But we went from nine out of 10 to seven out of 10 to three out of 10. So that's been exciting. So we'll see if we can ever get one of these bad boys to crack one out of 10.

• 1:22:58Tom Bilyeu?

  Anyway, you guys were amazing. Thank you. This is always the highlight of my week. We'll be doing it again on Friday, 6:00 AM Pacific time. Join us, won't you? It is wonderful to have you guys here. Have a wonderful couple of days and we'll see you on Friday. All right, everybody. Peace.

• 1:23:15Tom Bilyeu?

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