Jamal
Appearances
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
And we talked about this before, where this is also a problem at the federal level when you look at GDP and job growth, because it looks like a lot of these jobs are actually fake manufactured government type jobs. So why is this a problem? You've seen in California, the issue that we have is that if you have
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
A growth in the number of employees, in this case in California, all the job growth in recent memory has been state employees. What is the byproduct? Regulations go up. What is the byproduct of that? There are actually no private sector jobs, and more to the point, the private sector flees. So now let's bubble that up and look at the federal government.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Nick, if you want to just show that chart that I sent you. What is incredible, J. Cal, is that the more people are hired by the government, lo and behold, what do you see? The number of regulations issued by federal agencies has just continued unabated year in, year out. You cannot run a country like this. So- Because these accumulate, right?
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Congress is doing less and less of a job actually trying to frame how the country should work. That white space is filled in, as Freeberg said, by these federal agencies. It compounds and accumulates. This is not replacing laws. None of these regulations have expiry dates. And so as a result, I think what you probably have is an incredible restraint on the US economy.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I think that the US economy could be growing at 4% or 5%. But the reason that it doesn't grow at 405% is in that one single chart. It is impossible to be able to live up to your economic potential when you have this burden on your neck. So I think the real opportunity for Doge is to basically do whatever it needs to do using the law to wipe as many of these regulations off the books.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
We are better off cutting them all to zero, and then finding the ones we really need and then repassing those, then we are going at this piecemeal. And there's some incredible ideas, by the way, that this creates. Nick, I don't know if you can find this tweet, but Doge asked what people think of the IRS.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
And there was an enormous amount of activity that essentially said, give us a flat tax and wipe out the tax code. People were very flexible in the amount of tax that they were willing to pay. But could you imagine the simplification in the tax code and the implications of that? I was in Singapore, by the way, 10 days ago when I started my trip.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Nick, beep out the name of the person I'm about to say, but I had a long meeting with who is there. And I was asking him the complexity of dealing with taxes. He's like, what do you mean? We pay a very simple tax system. There's no capital gains in Singapore. And so as a result, our filing requirements are de minimisly small.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
But as a result, people like him, meaning great entrepreneurs, can spend all their time thinking about what to build. Not tax optimization. Exactly. Or how to account for it. So could you imagine if these guys basically use Doge as a mechanism to shrink the tax code, create a flat tax potentially? I know that that has to be passed by Congress. I understand that.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
But the idea of just cutting this all the way down and then finding through that process what you actually need, I think can find America 100, 200 basis points of GDP growth. It could be an economic renaissance.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I think that that's a good idea, but it has to be quarterly. I think that's a good idea, but J. Cal, I think you first have to cancel all these regulations and then say, whatever we need, we will reenact To your point, on a five-year shot clock that then has to be renewed in a new congressional period. And I think that that's extremely healthy. Well, because you know what?
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Just one last comment. In fairness to these government employees... The one thing is that it's not their fault, meaning in the sense that they were hired into a regime where the incentive was to regulate so that you had things to oversee. And so they did their job. In fact, I would say they did their job incredibly well.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
But the point is that now we need to pivot for them to do a totally different job.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
The emperor. You know what happened to the 10-year when Elon and Vivek wrote that essay? I actually don't. What happened? Yields contracted by five basis points. You know what the value of that is? A couple billion.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
He was playing his skin flute. What happened? You had to go for a quick game of pocket pool. How'd you ride it? Oh, my God.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
$15 billion per year. Yeah, yeah. So I think that it was probably a $100 billion essay just writing it.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Forget about the fact... Guys, the essay saved us $100 billion. Just the essay. Thank you. They should write an essay a day.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
But Jason, don't you think that that's going to happen no matter what? What? Which part of it? That they're going to say that no matter what. So I actually disagree with the first part of what you said. I agree with you that the media, the mainstream media will try to characterize this as hurting the poor. I agree. And I'm not sure yet whether it's true or not. Yeah.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
But I think the first part I disagree with is I don't think they should operate towards consensus. I think that they should do what's right.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
How does that cut taxes on rich people?
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
100%.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I think it benefits other people way, way more than it benefits me.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
That's my point. Okay, but can we just agree that they're, okay, but that's different than how you started. You said only work on consensus projects. I agree. No, no, I didn't say that.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
That's not true. That's not true.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I think it's deranged, the idea that 74 million people are actually rooting against him. I don't think that that's true.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I voted more to make America great again than I did vote for being a Republican. I think that the Republican Party is less important than it's ever been. And I think MAGA is more important than it's ever been.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Would you have a strategy? I think Sachs laid it out, which is that if you use the combination of the carrot and the stick, I think the carrot is creating transparency. And I think The other part of the carrot is you'll have now an extremely well-funded PAC that can support people who are on board with this agenda.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
But the stick is, if you don't, I think that if Elon makes this a really concerted long-term part of his strategy, then I think you should run candidates who actually are aligned with the agenda consistently. that the Make America Great Again movement wants.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
So I think that's the carrot and stick, Jason, which is like some of these old Republicans will have to decide, do I basically help invest in a renewal of the American spirit or do I keep pushing back because I like the way it was and I want to go to war and I want to cozy up to these lobbyists?
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I think those folks are going to have a very tough four and eight years because I think you'll see a bunch of MAGA candidates rising up to run against them everywhere in the United States.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Could you imagine America clocking in 4% GDPs? Do you guys deal with regulatory?
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I'm dealing with massive regulatory issues.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I don't have any. I think I'm very blessed to work in an industry that's very light with regulation. I think it affects many, many other industries that, if they were unleashed, could contribute to American GDP in exceptional ways.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Rip these regulations out.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
They haven't hurt me. They haven't hurt me.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
They definitely are throttling the economy, right? I can snap a finger and raise a couple billion dollars. So I'm in a unique position, and I recognize that. What is much harder is if you're trying to be an electrician, if you're trying to be a hairdresser, if you're trying to be a massage therapist, when you have to spend 15%, 20%, 30% of your salary on licensure, why? Totally.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Why do we need these stupid rules? Totally. If you're a person that's trying to construct a home, why does it take six and eight weeks to get permits approved? Why? Totally. And there are no good answers for these things. So forget about me. It doesn't matter about me. But the mainline part of the United States economy, as I said before, is a coiled spring.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
If you get rid of those regulations, it disproportionately impacts middle income and lower middle income jobs. This is why if you see GDP, if America clocks in GDP at 4% to 4.5%, Watch out, folks.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I think there's many more traditional forms of economic growth that we can have before we need to make ICOs legal and easier. I want to say something. I think that the person that runs for governor in California should commit to cutting those 65,000 regulations down to 10,000 as needed, to replacing the DMV with a digital app, and to cut taxes to near zero, and to create school choice.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Whoever does that will create a renaissance in California. It's the fifth largest economy in the world, folks. And it can be a bellwether for the rest of the world.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
She's pretty based.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Well, I think it's just completely deranged because it's not just that. Forget Biden and Trump for a second. If you take a step back, what was voted in was to end this war and for the United States to get our hands out of it. So you couldn't have a clearer message to the sitting president in the White House, which is this is not what Americans want.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
And so to basically ignore the will of the voters and to essentially go and push another country into the brink, I think is so incredibly responsible. And, you know, other times we've said in the past, take Donald Trump seriously, but not literally. Russia, you should take seriously and literally. because they actually write it down for you and tell you.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
And so when they said every act of aggression from now on is going to be viewed by us on a look-through basis to the actual country that is enabling this to happen, you couldn't be more clear. But Americans couldn't have been more clear, which is we don't want this war anymore. And I just think it's really deranged what the Biden White House is doing. It's incredibly dangerous.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
By the way, not to mention, it's incredibly costly as well. I mean, we've had like some last minute efforts to sort of tamp down on these last minute budget approvals and whatnot. But we're talking about tens and hundreds of billions of dollars that we're giving on top of the risk of nuclear escalation. I just think it's absolutely crazy. It's absolutely crazy.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Joe Biden is martingaling. That's his strategy for the Ukraine-Russia war. Just keep doubling down and doubling down and doubling down.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Oh, yeah. Sorry. Martingaling is a strategy in gambling where, let's just say, you know, you start betting a dollar and you lose. Your next bet is $2. If you lose, your next bet is $4. If you lose, your next bet is $8. And eventually you'll win once is the theory. But there's many times where martingaling does not work.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Did I tell you about the losing a million dollars playing roulette? What? Me? Nick, you got to beep out the names. Me? It was me. Oh, you did tell me this. You did tell me this. Yeah, this is so good. It says, guys, I've developed a system. It's full. Oh, no.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Somebody says that. It's like, we need to risk a million. We can win like two or three. And it's like 99.996%. So I say to him, so are you really telling me that we just have to fade 0.004% chance of like total loss? And he says, yep. Well, guess what hit? The 0.004% shot. Me. Totally. And it was devastating. I just kept looking at this thing like, what just happened? He's like, oh, we lost. Yeah.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
And I was like. There it is, folks. Never again. I'm never going to play roulette again.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Yeah, he definitely knew more than that picture let on. Because the interpretation of that picture was they are getting along. He's being super gracious. What an incredible gesture.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Escalation, yeah.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
You do it right before you go to bed?
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
No, I did not. You got busted looking at porn? You want to know what it was? Yeah.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
By the way, did you guys see this? Did you see this tweet from Brian Johnson? He tweeted out all of his blood levels. This is incredible. I love this guy. Look at these results. They're incredible. If he can break this down into like a turnkey thing that normal folks like us can follow.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Dude, look at some of these results. His speed of aging. He says his birthday now happens every 19 months. What? The f***?
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
Slowly. He's reading it very slowly. Wow, he's got a 240-pound bench press and an 800-pound leg press. Jesus. He looks like he's dead, though.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
I think you are highlighting something that they can do right away, which I think is very powerful, which is just using these distribution channels that Elon has now to create a massive layer of accountability. I do think that Sunshine is a really incredible disinfectant. I think the best way that they could start, if possible, is to stop paying
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
their vendors until you actually have some amount of accounting to figure out, as you said, how many $600 soap dispensers are actually being bought and sold. Now, that kind of whatever you want to call that, corruption or grift, it's not going to account for hundreds of billions or trillions of dollars.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
but I do think that it is a very moral and symbolic win that says we're going to start to get much more rational and it starts to allow the average American to actually feel like they have a little bit of control and they have a more vested interest in how the government spends money. But I actually want to take a step back for a second.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
And before I talk about what Doge can do, I just want to highlight something that's been going on in California, because I think it explains a lot. In California, and I'm just going to read this stat because it's incredible. The regulatory burden in California as a state from 1997 to 2015, this is when the data is available that I found, has increased by almost 50%.
All-In with Chamath, Jason, Sacks & Friedberg
DOGE unveils a roadmap, Unlocking GDP Growth, WW3 escalation, Fat cell memory
As of May of 2022, there are almost 61,000 individual regulations in the state of California. So what does that mean and where does it come from? And Nick, if you can just put out the tweet, it has happened over a period of time in which the government has been the absolute singular source of employment in the state.