PBD Podcast
Diddy Trial BOMBSHELLS, Trump DESTROYS Neocons, Putin BAILS On Peace Talks | PBD Podcast | Ep. 587
Thu, 15 May 2025
Patrick Bet-David, Tom Ellsworth, Vincent Oshana, and Adam Sosnick cover Diddy’s explosive trial and the shocking allegations shaking the entertainment world, California’s emergency insurance rate hikes creating chaos for homeowners, and Vladimir Putin bails on peace talks with Ukraine. ------🇺🇸 VT MEMORIAL DAY COLLECTION: https://bit.ly/4jTds5r🍋 ZEST IT FORWARD: https://bit.ly/4jYg3Lh📕 PBD'S BOOK "THE ACADEMY": https://bit.ly/41rtEV4🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4g57zR2🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/4g1bXAh🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: https://bit.ly/4eXQl6A📱 CONNECT ON MINNECT: https://bit.ly/4ikyEkC📰 VTNEWS.AI: https://bit.ly/3OExClZ👔 BET-DAVID CONSULTING: https://bit.ly/3ZjWhB7🎓 VALUETAINMENT UNIVERSITY: https://bit.ly/3BfA5Qw📺 JOIN THE CHANNEL: https://bit.ly/4g5C6Or💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time!ABOUT US: Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Chapter 1: What are the shocking allegations in Diddy's trial?
Chapter 2: How are California's insurance rate hikes affecting homeowners and renters?
And ready for this? It goes up 15% for renters and condos. However, 38% if it's not a condo. So condos got their own little lane, but they gave State Farm permission to raise it 38% for renters.
I'm renting a three-bedroom house from somebody. My renter's insurance, I was paying $2,000 a year. Now I'm paying $2,800 a year. That is right. You're up to $2,800.
So that $800 is like a car payment. That's huge. And what's very interesting to me is I dug into this and the administrative law judge, Carl Frederick Seligman, he said, well, this is because of weather events. Another devastating extreme weather event would nearly eliminate State Farm surplus. Their surplus was $2.24 billion. This is what an insurance surplus is.
An insurance surplus is the money they have to set aside because someone's car is going to get stolen, someone's car is going to be in an accident, or you're going to have a fire in your kitchen, no one gets hurt, but you've got to rebuild part of your house. That is what insurance is for.
And so State Farm, when they sell X number of policies, they have to keep putting money in a savings account to cover all this stuff. They had $2.6 billion in it until Palisades burned down. And all the fires in California led by the Palisade. There was also other ones that were just horrifying. And now they're down to $620 million. So they put $1.6 billion, whoosh, out into people's hands.
Now, those people deserve it because they paid for a policy with State Farm, and they suffered a terrible loss. Mm-hmm. Well, now the judge says, hey, they're down to $620 million, and if there's another weather-related event, boy, that would eliminate their surplus. What's he blaming, Vinny? He's blaming weather. Weather event.
He's not looking at the empty reservoirs, the fire department equipment that wasn't in working order, hydrants that weren't working, and also decisions that they made about not asking PG&E to clear brush and things. No one's looking at that. Oh, it's just the weather.
So it basically is taking the bureaucrats, you know, Richard, Laura and them out of it and not putting it on people that says, wait a minute. OK, so we got the situation and you're right with only 620 bureaucrats. billion dollars, these people, excuse me, million dollars, these people could be in deep water, State Farm.
But no one's looking at what was going on in PBD before all the public policies and the mismanagement of things that led it to be such a devastating era. And when all the neglect was there, what happened when the wind and fire came to Palisades? Bawoosh. And the fire department was unarmed.
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Chapter 3: What is the significance of Trump's arms deal with Saudi Arabia?
The gleaming marvels of Riyadh and Abu Dhabi were not created by the so-called nation builders, neocons, or liberal non-profits like those who spent trillions and trillions of dollars failing to develop Kabul, Baghdad, so many other cities.
Instead, the birth of a modern Middle East has been brought by the people of the region themselves, the people that are right here, the people that have lived here all their lives, developing your own sovereign countries. Pursuing your own unique visions.
So, you know, he's doing that. Then he offers 140, uh, uh, the, the inks, the $142 billion arms deal with Saudi Arabia, which time you have some thoughts on that part of the $600 billion investment, uh, And then on top of that, he gets on a plane and goes to Qatar and does his thing there. But I'll pause right here. Tom, your thoughts on this visit. Why was this special? What was special about it?
Well, I think he's going around the world and he's doing these trade deals. and he's also trying to improve relationships with people. And America has always had this weird relationship with Saudi Arabia, where on one level, you know, we have this detente, and on another level, they do things behind the scenes. Well...
What was interesting is they announced that they were going to put all this money, $600 billion in the U.S., and they're spending $142 billion of it. So Trump came back, $102 billion, and guess what they wanted? They wanted state-of-the-art Air Force missile defense and maritime security. Because remember, they got the Gulf there, and they got the same problems.
Believe it or not, the Somali pirates bother the shipping for Saudi as well. So... He comes over and he gets an arms deal. So that's money going to some of, you know, our defense, military defense, industrial defense complex that raises their revenue and it helps the stock market. But now it's like, OK, how are they going to use these things? Because Saudi's always been kind of two sided on it.
But I think he's out there trying to be trying to. get a better position. So whenever people see these things and they think, oh, I can't believe he's doing this and that, he's trying to get us a toe up. Every one of these things. He's trying to get us a toe up. And I'm not buying off on that he's caving on this or that.
Do you think Saudi's being a good agent? Do you think Saudi's being straight up? Do you think Saudi's going to take that $142 billion arms deal and indirectly sell it to other people to make profit on it? Do you think they will do something like that? Or maybe that was in the past. They won't do it again moving forward.
They... Arms tend—not all of these regimes are altruistic. There's a little corruption all over the Middle East, and stuff goes out the back door. The French have been selling missiles and exosave fighters for decades, and all of a sudden they go over here, and then they go over here. How did you get those? Oh, we got them from the French. It's a trade deal.
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Chapter 6: How does the rising cost of living impact Americans' financial decisions?
Now, those people deserve it because they paid for a policy with State Farm, and they suffered a terrible loss. Mm-hmm. Well, now the judge says, hey, they're down to $620 million, and if there's another weather-related event, boy, that would eliminate their surplus. What's he blaming, Vinny? He's blaming weather. Weather event.
He's not looking at the empty reservoirs, the fire department equipment that wasn't in working order, hydrants that weren't working, and also decisions that they made about not asking PG&E to clear brush and things. No one's looking at that. Oh, it's just the weather.
So it basically is taking the bureaucrats, you know, Richard, Laura and them out of it and not putting it on people that says, wait a minute. OK, so we got the situation and you're right with only 620 bureaucrats. billion dollars, these people, excuse me, million dollars, these people could be in deep water, State Farm.
But no one's looking at what was going on in PBD before all the public policies and the mismanagement of things that led it to be such a devastating era. And when all the neglect was there, what happened when the wind and fire came to Palisades? Bawoosh. And the fire department was unarmed.
Here's a question, though, Tom. All that stuff we're talking about, That's not State Farm's problem. State Farm is there to insure your homeowners. Now, here's the problem. You've got to realize with State Farm. With good market share, doing a good job, a lot of customers. When you look at State Farm, State Farm, he says, right now, this is part of the story.
The independent administrative judge, non-binding order, which found State Farm is in serious financial stress and recommended a $400 million cash infusion. from its parent company. Their parent company is, I think, State Farm Automobile and Insurance Company, something like that. Then you have State Farm. Why do they need $400 million infusion? They're not making money. So guess what?
They're saying 21%. They lowered to 17%. California homeowners can't afford that. 15% for renters in a condo, 38% for renters in a house, which in California, in many cases, you're renting a house from somebody else. You're paying that 38%. That's an increase on top of what it already is But guess what the alternative is? Complain about it, State Farm leaves.
State Farm leaves, the mortgage doesn't get approved. The mortgage doesn't get approved, the real estate industry goes into shambles. The real estate industry goes into shambles, and the tweet that Vinny just sent, Rob, if you can pull this one up, this is a tweet that Vinny just sent from Mario in the fall. This is what it takes to afford to buy a house today in America. Check this out.
How crazy is that, Pat?
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Chapter 7: What does the Diddy trial reveal about Hollywood's hidden scandals?
Wow.
Keep going. Keep going.
Well, thanks. I had no idea. So they showed photos of her.
Have you verified that, Rob?
Yeah. And dragging her by her hair, doing all that stuff. And then, bro, check this out. He ran it like a business, Tom. Staff managed the girls. Flights, hotels were booked under fake names and shell companies. There were burner phones, surveillance videos used for leverage, rumors. You know, that's the whole blackmail that we always talk about.
Rumors about celebrities and political connections tied to this mess. And Brandon told me something about...
That's racketeering. That's the racketeering charge. For people listening, you just defined racketeering. A criminal enterprise operating like a business illegally is racketeering. What you just described, assistants, coordinators, you're the travel guy, I'm the SUV guy, bingo.
Yeah, and Brandon actually looked this up. Do you guys know, like, Clive Davis's name kept coming up because there was rumors and allegations, and again, allegations suggesting that there was a sexual relationship between Clive Davis and Sean Diddy, all rumors, because mind you, in... In 1993, Puffy was fired from Uptown Records, and he started Bad Boy Entertainment, but he needed the money.
Clive Davis, head of Arista Records, saw the potential and went 50-50 joint venture. But the rumors are that they had some type of hooking up with each other. I mean, dude, that guy just looks very, very sus in general. And Clive Davis publicly came out as bisexual in 2013.
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