Saikat Chakrabarti

And so I think one way you do that is, hey, you do need to increase the salaries, you need to fund this stuff, but you also have to make it exciting. I think it's very radicalized. It's very underreported. It's because they're going in there and they're making a real sacrifice.

And so I think one way you do that is, hey, you do need to increase the salaries, you need to fund this stuff, but you also have to make it exciting. I think it's very radicalized. It's very underreported. It's because they're going in there and they're making a real sacrifice.

All these people could be making, you know, half a million dollars in a lobbyist firm, but instead they're taking a huge pay cut to do something good. One of the things I learned when I was in Congress was if you're a former member of Congress, you can be on the House floor. So what do lobbyists do? They hire former members of Congress so they can whip votes on the House floor.

All these people could be making, you know, half a million dollars in a lobbyist firm, but instead they're taking a huge pay cut to do something good. One of the things I learned when I was in Congress was if you're a former member of Congress, you can be on the House floor. So what do lobbyists do? They hire former members of Congress so they can whip votes on the House floor.

They're not supposed to. It's technically against the rules, but, you know, come on. How do you think about this question of state capacity?

They're not supposed to. It's technically against the rules, but, you know, come on. How do you think about this question of state capacity?

Yeah, and that's a really important point because if we actually embark on these big missions and make it exciting enough to be in government, we don't want to just be anti-people who know how to do stuff. Like when we did the World War II mobilization, The guy who ran a big part of it was this guy, Bill Knudson, who was actually the CEO of GM.

Yeah, and that's a really important point because if we actually embark on these big missions and make it exciting enough to be in government, we don't want to just be anti-people who know how to do stuff. Like when we did the World War II mobilization, The guy who ran a big part of it was this guy, Bill Knudson, who was actually the CEO of GM.

But he had come up as an engineer, you know, through the factory floor. He understood how that whole economy worked. And that was why we were able to organize all the other CEOs and the entire economy to do war production. You know, FDR almost hired like a banker who did the World War I mobilization, which wasn't as good. And that guy said, no, you got to get someone who actually knows this stuff.

But he had come up as an engineer, you know, through the factory floor. He understood how that whole economy worked. And that was why we were able to organize all the other CEOs and the entire economy to do war production. You know, FDR almost hired like a banker who did the World War I mobilization, which wasn't as good. And that guy said, no, you got to get someone who actually knows this stuff.

And we need to have people like that now. And unfortunately, Elon Musk is now going and just destroying government, but we need a Bill Knudsen today.

And we need to have people like that now. And unfortunately, Elon Musk is now going and just destroying government, but we need a Bill Knudsen today.

The thing that we've sort of lost is a little bigger than just public financing. It's sort of public institutions that proactively go out and make stuff happen. We have a little bit of this now. We have it with DARPA, you know, on sort of research and development projects. And that's kind of public financing as well of those kinds of projects.

The thing that we've sort of lost is a little bigger than just public financing. It's sort of public institutions that proactively go out and make stuff happen. We have a little bit of this now. We have it with DARPA, you know, on sort of research and development projects. And that's kind of public financing as well of those kinds of projects.

But we've lost it for the entire sector of creating industries and creating infrastructure projects. And there was a loan program at the DOE that the IRA funded for clean energy projects that Jigar Shah ran. It's a great program, but it's a wait and see approach. So people apply for loans for projects they want to do. But there's all kinds of projects that just aren't happening.

But we've lost it for the entire sector of creating industries and creating infrastructure projects. And there was a loan program at the DOE that the IRA funded for clean energy projects that Jigar Shah ran. It's a great program, but it's a wait and see approach. So people apply for loans for projects they want to do. But there's all kinds of projects that just aren't happening.

Like right now, a big bottleneck to expanding electric grids is a transformer shortage because we only have a few companies that make transformers. And we only have one company that makes electric steel that we need for transformers. And no one's popping up to make new electric steel companies.

Like right now, a big bottleneck to expanding electric grids is a transformer shortage because we only have a few companies that make transformers. And we only have one company that makes electric steel that we need for transformers. And no one's popping up to make new electric steel companies.

So what I'm imagining is something like the RFC today, Reconstruction Finance Corporation would push them to expand production. If they don't do it, fund startups. And if they don't do it, put up state-owned corporations, right? And this is what China does. This is exactly what China does. China got these ideas from us. You know, this was what we used to do.

So what I'm imagining is something like the RFC today, Reconstruction Finance Corporation would push them to expand production. If they don't do it, fund startups. And if they don't do it, put up state-owned corporations, right? And this is what China does. This is exactly what China does. China got these ideas from us. You know, this was what we used to do.