Jonathan Herzog

that what we saw happen in europe this max exodus of the jewish population there um has unfortunately the the jewish community at least in the united states has had this peaceful and secure life now for four centuries and that's beginning to come into question um and if you look at the last time we entered a great depression if you look at germany in 1928 you see

a one-to-one correlation between the rise and unemployment um post 1928 and the nazi seats in the reichstag dictatorship was democratically elected after hyperinflation the devaluation of the mark yeah what caught what caused the hyperinflation

Well, so again, by all accounts, the collapse of the global economy and... No, but that wasn't.

Well, this is in part, I was excited to see you share this kind of passion and excitement around Bitcoin and cryptocurrency founded after the financial crisis, which we still haven't recovered from, learned a lesson from, or really changed any of our- What should we have learned from 2008?

we printed $4 trillion for the banks.

And we basically held no- Wait, Jonathan, sorry, that's not true.

Yeah, I mean, we don't even, to your point, we don't even have to look at more than a decade ago.

We can look at right now where the multi-trillion dollar response to COVID, a tiny, tiny fraction has gone to direct cash relief and grants to people, families, and small businesses.

And this is the fundamental script we have to flip, which is if you're a small business, if you're an entrepreneur, if you have skin in the game and have built your own enterprise, you're left out to drive.

But if you're a large multinational, let's say you're Amazon, you're paying essentially zero in federal taxes, then you're getting direct support.

And so we have to rebalance the scales and rewrite the rules so that people who want to start businesses can.

Certainly, if you look at the data over the past number of decades, the returns to capital and the returns to C-suite has outpaced and the gap has outpaced the returns to labor.

There's a lot of reasons for this, but part of the whole message and the driving impetus behind the Freedom Democrats and the Yang gang is we're trying to raise the floor, not lower the ceiling.

The emphasis is on a universal basic income, an idea that was supported from the like

been in effect in Alaska for almost four decades in a deep red Republican conservative state supported by Greg Mankiw George buses chief economists supported now by Anthony Scaramucci and even Steve Mnuchin at times and so it is bipartisan because the kind of really conservative economic value of

um not having government bureaucracy decide and make choices for you but empowering people with their own agency and liberty to live the lives they they they choose to lead um is both it's simultaneously a progressive principle this is what martin luther king was fighting for in his last days before he was assassinated um but also again what milton friedman um argued for and a thousand economists um argued to congress

This actually passed the US House of Representatives twice in 1971 and almost became law under Nixon.

the reality is technology is ambivalent and we often see the destructive power of technology come to the fore before its creative potential and this is true whether you're building trains and railroads or gunpowder or artificial intelligence and software and so technology can be bad or good there's nothing inevitable to it

So certainly the primary issue is the absence of cash.

And so even before this crisis,