Shamath Palihapitiya

We should call Sachs Geppetto.

We should call Sachs Geppetto.

I think like one thing that when the investigation happens into what happened here, and we really figure out what happened in the Secret Service, how many examples do we need of institutions where we put in our trust, just like letting us down? and they just seem to be piling up and it's independent of administration.

I think like one thing that when the investigation happens into what happened here, and we really figure out what happened in the Secret Service, how many examples do we need of institutions where we put in our trust, just like letting us down? and they just seem to be piling up and it's independent of administration.

And at some point, I think we have to like really check ourselves and say, what has happened here? Like, how do we objectively measure the quality of the people that are supposed to be working in these organizations?

And at some point, I think we have to like really check ourselves and say, what has happened here? Like, how do we objectively measure the quality of the people that are supposed to be working in these organizations?

Is it an acceptance of mediocrity or is it that they just got completely distracted on things that are not germane to doing your job. So if it was, we need... a diverse Secret Service, or we need to have inclusion, all of those things have nothing to do in my mind about protecting somebody.

Is it an acceptance of mediocrity or is it that they just got completely distracted on things that are not germane to doing your job. So if it was, we need... a diverse Secret Service, or we need to have inclusion, all of those things have nothing to do in my mind about protecting somebody.

There are characteristics, and I suspect that there are women that embody these characteristics as much as men that embody these characteristics, but why isn't there a psychographic way of determining who the best people are that have the protective instinct to protect the most important people that run our country?

There are characteristics, and I suspect that there are women that embody these characteristics as much as men that embody these characteristics, but why isn't there a psychographic way of determining who the best people are that have the protective instinct to protect the most important people that run our country?

I don't know if you guys saw, but there was like a thing where, and I feel bad for this woman who's being derided as being totally incompetent, the one in the field, but there was a David Attenborough voiceover.

I don't know if you guys saw, but there was like a thing where, and I feel bad for this woman who's being derided as being totally incompetent, the one in the field, but there was a David Attenborough voiceover.

Did you see the picture of Secret Service on top of the White House roof, which is extremely sloped, even more sloped than the... I mean, it's just ridiculous.

Did you see the picture of Secret Service on top of the White House roof, which is extremely sloped, even more sloped than the... I mean, it's just ridiculous.

No, no, say that again.

No, no, say that again.

And all the information needs to be made available. The first person that needs to speak in a congressional hearing is the sniper himself.

And all the information needs to be made available. The first person that needs to speak in a congressional hearing is the sniper himself.

Yeah, there's two.

Yeah, there's two.

It was really amazing.

It was really amazing.

Are you telling me in 2024 that when you show up at an event to protect a VVVIP, like the President of the United States, that SWAT and other people aren't given some kind of little pin that has an NFC chip or something where everybody knows who everybody is so that it's very clear very quickly when somebody in a position... of risk is not on the home team?

Are you telling me in 2024 that when you show up at an event to protect a VVVIP, like the President of the United States, that SWAT and other people aren't given some kind of little pin that has an NFC chip or something where everybody knows who everybody is so that it's very clear very quickly when somebody in a position... of risk is not on the home team?

There is a, when you're undercover... Like, are you telling me, for example, like, President Trump's pin or Barack Obama's pin or Joe Biden's pin doesn't actually have something in it? I would be shocked if the answer is, it's just a pin.

There is a, when you're undercover... Like, are you telling me, for example, like, President Trump's pin or Barack Obama's pin or Joe Biden's pin doesn't actually have something in it? I would be shocked if the answer is, it's just a pin.

Honestly, guys, I hate to be the one to say this, but we've just, our institutions are incompetent. There's a lot of incompetency.

Honestly, guys, I hate to be the one to say this, but we've just, our institutions are incompetent. There's a lot of incompetency.

Why would anybody, so if this was a company, this would be a failing company. Why would you not strip it down from top to bottom and rebuild it?

Why would anybody, so if this was a company, this would be a failing company. Why would you not strip it down from top to bottom and rebuild it?

Sachs is really right. Like you cannot have the Secret Service investigate themselves on this one. Of course not.

Sachs is really right. Like you cannot have the Secret Service investigate themselves on this one. Of course not.

Yeah.

Yeah.

My gosh.

My gosh.

Do they give you a time?

Do they give you a time?

Is that true? He's superb. I cannot say enough good things about this guy. He's superb. Why is he superb? He is a He's a bit of an enigma, I think, as Zach said, because his views are so unique. And he comes from a background that is very similar to mine. So I have tremendous loyalty for the path that he had to navigate to get out, just to get out.

Is that true? He's superb. I cannot say enough good things about this guy. He's superb. Why is he superb? He is a He's a bit of an enigma, I think, as Zach said, because his views are so unique. And he comes from a background that is very similar to mine. So I have tremendous loyalty for the path that he had to navigate to get out, just to get out.

It's absolute insanity. I actually just, I had just woken up because I was flying back to the United States for a board meeting. And so as I was boarding and on the way, I was just on my way to the airport reading it, mostly from our group chat. And I couldn't believe it, to be totally honest with you. I thought this is not possible in this day and age.

It's absolute insanity. I actually just, I had just woken up because I was flying back to the United States for a board meeting. And so as I was boarding and on the way, I was just on my way to the airport reading it, mostly from our group chat. And I couldn't believe it, to be totally honest with you. I thought this is not possible in this day and age.

And I think that I really care for people like that. And then he's done really good things with the resources that he's been given and the relationships that he's built. And I really respect that too.

And I think that I really care for people like that. And then he's done really good things with the resources that he's been given and the relationships that he's built. And I really respect that too.

Less than nothing.

Less than nothing.

She looked absolutely radiant.

She looked absolutely radiant.

She was beautiful and she crushed it.

She was beautiful and she crushed it.

Value judging.

Value judging.

Let's take the obvious. We're trending into a direction right now where based on Donald Trump's pick for the vice president and some of the other surrogates like Vivek, if Donald Trump were to win, what you're going to see is a very youthful cabinet of a lot of 30-somethings and 40-somethings.

Let's take the obvious. We're trending into a direction right now where based on Donald Trump's pick for the vice president and some of the other surrogates like Vivek, if Donald Trump were to win, what you're going to see is a very youthful cabinet of a lot of 30-somethings and 40-somethings.

And I think that that's a really important thing to consider versus a bunch of 60-, 70-, and 80-year-old career politicians. Correct.

And I think that that's a really important thing to consider versus a bunch of 60-, 70-, and 80-year-old career politicians. Correct.

Part of why I thought it was not possible was because I had elevated in my mind who the Secret Service were and that the job they did or that they're supposed to be doing is just so sacrosanct to the well-functioning of America that you only have the absolute best people doing that job.

Part of why I thought it was not possible was because I had elevated in my mind who the Secret Service were and that the job they did or that they're supposed to be doing is just so sacrosanct to the well-functioning of America that you only have the absolute best people doing that job.

Absolutely. I mean, I think there was Doug Burgum, who was... That was your favorite, no?

Absolutely. I mean, I think there was Doug Burgum, who was... That was your favorite, no?

And that job is to protect these handful of individuals in America, most importantly being the president of the United States, who are just critical to the functioning of the most important country in the world. And when you see the level of negligence and incompetence, my mind started racing. How is it even possible?

And that job is to protect these handful of individuals in America, most importantly being the president of the United States, who are just critical to the functioning of the most important country in the world. And when you see the level of negligence and incompetence, my mind started racing. How is it even possible?

So Freeberg, you're pretty convinced at this point that a reciprocal trade agreement would cause... inflation, hyperinflation?

So Freeberg, you're pretty convinced at this point that a reciprocal trade agreement would cause... inflation, hyperinflation?

I guess the only thing that I can come up with is that we need to figure out where incompetence ended and negligence began in all of this, because I think that's what's going to be the most critical. And we need to figure out the totality of what happened You know, if there were other people that supported this guy trying to do this.

I guess the only thing that I can come up with is that we need to figure out where incompetence ended and negligence began in all of this, because I think that's what's going to be the most critical. And we need to figure out the totality of what happened You know, if there were other people that supported this guy trying to do this.

And then the second I'll just say is Trump is an absolute legend. What a boss.

And then the second I'll just say is Trump is an absolute legend. What a boss.

I have two thoughts. The first is that it's interesting to see that they mark the valuation up to 70 billion. That's a good sign for Stripe. But the second thing is I was a little kind of puzzled by this whole thing. It's a very complicated thing when you're buying old stakes into a new fund and crossing funds. It's sort of like actually one of those things that are supposed to be verboten.

I have two thoughts. The first is that it's interesting to see that they mark the valuation up to 70 billion. That's a good sign for Stripe. But the second thing is I was a little kind of puzzled by this whole thing. It's a very complicated thing when you're buying old stakes into a new fund and crossing funds. It's sort of like actually one of those things that are supposed to be verboten.

And when you're trying to build a good fund with great governance, this is actually at the top of the list of the things that you're never supposed to do, which is to provide liquidity to to a group of LPS via another fund that you control. But I think this actually shows what may be going on behind the scenes. So I don't want to be conspiratorial or anything. But

And when you're trying to build a good fund with great governance, this is actually at the top of the list of the things that you're never supposed to do, which is to provide liquidity to to a group of LPS via another fund that you control. But I think this actually shows what may be going on behind the scenes. So I don't want to be conspiratorial or anything. But

it would be a great way for the GPs to get liquid to meet their capital calls here without having to pay capital gains tax. And that makes a lot of sense for the GPs themselves.

it would be a great way for the GPs to get liquid to meet their capital calls here without having to pay capital gains tax. And that makes a lot of sense for the GPs themselves.

Right, so you can provide, you can provide, no, meaning, but what that means is you can provide liquidity. You don't get to pull the money out. That's fine. But then now you can use it to fund capital calls. But I don't like it. I don't like these kinds of things where one fund is basically scratching the back of another fund.

Right, so you can provide, you can provide, no, meaning, but what that means is you can provide liquidity. You don't get to pull the money out. That's fine. But then now you can use it to fund capital calls. But I don't like it. I don't like these kinds of things where one fund is basically scratching the back of another fund.

It always tends to be the case that this stuff on the surface looks a little smelly and can be a little unseemly. And this is why you're not supposed to do it. You're supposed to go and get some other random fund to buy these things. And I think it's generally a much cleaner thing to do.

It always tends to be the case that this stuff on the surface looks a little smelly and can be a little unseemly. And this is why you're not supposed to do it. You're supposed to go and get some other random fund to buy these things. And I think it's generally a much cleaner thing to do.

You saw it on this AT&T hack of Snowflake. But cloud security is a really big deal. The more cloud services you have, the more difficult it is to lock these things down.

You saw it on this AT&T hack of Snowflake. But cloud security is a really big deal. The more cloud services you have, the more difficult it is to lock these things down.

And so whether it's Google or Amazon, they have a, or Azure, they each have a really big problem on their hands, which is that if all these customers are convinced to move these workloads into the cloud, but then you can't secure it and you get hacked, that ends the business. So Wiz is an incredible testament to, I guess, engineering prowess.

And so whether it's Google or Amazon, they have a, or Azure, they each have a really big problem on their hands, which is that if all these customers are convinced to move these workloads into the cloud, but then you can't secure it and you get hacked, that ends the business. So Wiz is an incredible testament to, I guess, engineering prowess.

I don't exactly know, to be honest with you, the quality of the product. Obviously, I don't interact with those kinds of products every day, but the fact that they're willing to pay such a premium means, A, the product is good, but more importantly, B, in the absence of cloud security, these cloud vendors are going to be constrained in how fast they can grow. So what an incredible market.

I don't exactly know, to be honest with you, the quality of the product. Obviously, I don't interact with those kinds of products every day, but the fact that they're willing to pay such a premium means, A, the product is good, but more importantly, B, in the absence of cloud security, these cloud vendors are going to be constrained in how fast they can grow. So what an incredible market.

What an incredible, incredible market.

What an incredible, incredible market.

I like Puppet Master.

I like Puppet Master.

I think it's more precise than that. I think it's way more precise than this. I don't think that this is like years of Donald Trump using violent rhetoric. I think this is years of mis... No, I don't. You cannot both sides this. I think this is years... Of course you can. I just gave you examples of it. I think what it is is that we have gone through years and years of...

I think it's more precise than that. I think it's way more precise than this. I don't think that this is like years of Donald Trump using violent rhetoric. I think this is years of mis... No, I don't. You cannot both sides this. I think this is years... Of course you can. I just gave you examples of it. I think what it is is that we have gone through years and years of...

literally the words that the former president has said being perverted and misconstrued and chopped up into soundbites that advance a mainstream media's agenda to try to vilify a person. And I think that that's an important thing to take a step back.

literally the words that the former president has said being perverted and misconstrued and chopped up into soundbites that advance a mainstream media's agenda to try to vilify a person. And I think that that's an important thing to take a step back.

I think we have to understand that the mainstream media has really gone out of their way to amplify violent rhetoric and to actually associate violent rhetoric with as a tolerable reaction. And I think that that is the thing that we need to now completely get rid of in our society.

I think we have to understand that the mainstream media has really gone out of their way to amplify violent rhetoric and to actually associate violent rhetoric with as a tolerable reaction. And I think that that is the thing that we need to now completely get rid of in our society.

I saw so many reactions to the former and probably future president of the United States getting shot, which was along the lines of basically hoping that that person hadn't missed and or justifying that violence on Donald Trump was somehow justified. That's insane. Now, that person could only have gotten that idea because the media fed them that language and that idea.

I saw so many reactions to the former and probably future president of the United States getting shot, which was along the lines of basically hoping that that person hadn't missed and or justifying that violence on Donald Trump was somehow justified. That's insane. Now, that person could only have gotten that idea because the media fed them that language and that idea.

And I think that that's extremely scary because I don't think you actually see Republicans necessarily saying that about Joe Biden. They may think that Joe Biden is feeble and mentally incompetent, but nobody's calling for the death of Joe Biden. So I think that that's a very scary place where you have one group of people who are being fed this extremely toxic narrative.

And I think that that's extremely scary because I don't think you actually see Republicans necessarily saying that about Joe Biden. They may think that Joe Biden is feeble and mentally incompetent, but nobody's calling for the death of Joe Biden. So I think that that's a very scary place where you have one group of people who are being fed this extremely toxic narrative.

And I think that that part of what you're saying, Jason, I agree with. But I really disagree with the other part, which is, and this is someone, again, as someone who was a former Democrat, I can observe this and be relatively rational here. I don't see that from the other side.

And I think that that part of what you're saying, Jason, I agree with. But I really disagree with the other part, which is, and this is someone, again, as someone who was a former Democrat, I can observe this and be relatively rational here. I don't see that from the other side.