Jay Powell

To my question, Freeberg, what are the chances they allow the millionaires on Pacific Coast Highway in Malibu to rebuild those homes? Or do you think they slow roll it and those people are all 50, 60, 70 years old? They'll never be able to rebuild their homes. The California Commission would just slow roll this and say, you know what? Nature returned it to its natural state.

To my question, Freeberg, what are the chances they allow the millionaires on Pacific Coast Highway in Malibu to rebuild those homes? Or do you think they slow roll it and those people are all 50, 60, 70 years old? They'll never be able to rebuild their homes. The California Commission would just slow roll this and say, you know what? Nature returned it to its natural state.

I think we should talk about insurance. This is a great segue. Yeah, yeah, the perfect segue.

I think we should talk about insurance. This is a great segue. Yeah, yeah, the perfect segue.

What about the timing of that free burn? That was three months before, six months before this happened?

What about the timing of that free burn? That was three months before, six months before this happened?

It's not just that.

It's not just that.

Yes, so it's just crazy timing.

Yes, so it's just crazy timing.

Yeah, somebody's going to lobby somebody. But hey, we're sitting here, Chamath, in the age of Doge and saying, hey, let's make the government smaller. In fact, Dave, you and I were talking about at some point, gangs of New York and the fire departments being- Oh, yeah, totally.

Yeah, somebody's going to lobby somebody. But hey, we're sitting here, Chamath, in the age of Doge and saying, hey, let's make the government smaller. In fact, Dave, you and I were talking about at some point, gangs of New York and the fire departments being- Oh, yeah, totally.

talking about that two or three weeks before this happened. But when we look at making government smaller, well, that means that these kinds of situations would put citizens more on their own. So let's counterbalance what you think, Chamath, about who should be responsible. We all espouse, I think, free market ideology on this program and as executives and in what we do every day.

talking about that two or three weeks before this happened. But when we look at making government smaller, well, that means that these kinds of situations would put citizens more on their own. So let's counterbalance what you think, Chamath, about who should be responsible. We all espouse, I think, free market ideology on this program and as executives and in what we do every day.

Should the people who own these homes going forward who decide to rebuild them here be have to pay 5%, 10% of their value of home every year? Should their home prices collapse because it's too hard to build there? And should the free market take over this risk?

Should the people who own these homes going forward who decide to rebuild them here be have to pay 5%, 10% of their value of home every year? Should their home prices collapse because it's too hard to build there? And should the free market take over this risk?

Or should it constantly be put on the other 329 million Americans who are going to have to bear the brunt of what happens to the million people affected in this area?

Or should it constantly be put on the other 329 million Americans who are going to have to bear the brunt of what happens to the million people affected in this area?

The average is four and a half. Yeah, I was about to say, there's nothing for a million these days. Yeah, it's got to be three or four minimum.

The average is four and a half. Yeah, I was about to say, there's nothing for a million these days. Yeah, it's got to be three or four minimum.