David Sacks

So really what the New York Times is beef is with the career civil servants at OGE.

So on the blind trust,

So it's kind of funny.

One of the New York Times reporters was talking about this on a podcast, which is where I think Newsom picked it up from.

My ethics lawyer, who teaches a course on conflicts of interest at Harvard, said that that reporter should really take his course because he would actually learn something about the conflicts laws.

The blind trust idea is rarely used.

And in my case, it would not have worked because I have minor children.

You can only use a blind trust to have your kids be beneficiaries if they're adults.

That's the way the conflict laws work.

So it just wasn't even applicable in my case.

And what I did instead of creating a blind trust is I divested the positions that OGE said were a conflict.

At a discount to their fair market value in the case of my LP interest and all these funds, I divested almost 100 funds that I had invested in, venture funds, things like that, angel funds, at roughly a 50% discount to their fair market value because- That's insane.

Because, well, they're private investments, right?

And you know that selling an LP interest in a fund, there's no liquid market for that.

So in order to even find a buyer, you have to make it super attractive for them.

And then I sold XAI, I sold my interest in Grok, and those were all at substantial discounts to the next round, which has now taken place.

So joining the government is not a money-making scheme.

The simplest way for me to make more money would have just been to keep doing what I was doing.

Right.

Just go back to the 449.