Transcript generated automatically by AI and may contain errors.
Chapter 1: What is discussed at the start of this section?
Adam, what's your point?
The future looks bright. My handshake is better than anything I ever signed, right here. You are a one of one? My son's right there. I don't think I've ever said this before. Who was sick on Monday? Not me. You were not sick on Monday? No. Sick in the head, maybe. Different story. But today's all love. I'm wishing Tom health and well. Guys, you missed it. Brooklyn was here in the house.
My four-year-old this year running around making sure we're squared away. We got a lot of stories to cover with you. And Vinny's got a surprise. Let me take these glasses off. I'm looking 62 years old. I like those glasses on you, Pat. Anyway, I'm going to hear from Mehran saying, you know, wear better glasses. But lots happening. Lots happening.
Folks, what do you think the chances are of, let's just say you live in a city, where math maybe is not that popular, and they need additional time to count. You know what I'm saying, Tom? Like some cities, they need a lot of time to count to 20,000, 20,400, whatever it is.
And then imagine there's like these two guys that one of them could possibly pass up the other person, but he's got a massive lead. and the other one is way behind them. But out of the 20,000 plus votes that they're counting, only seven or so went to this guy named Spencer Pratt in LA. Now, of course, it would never happen, but Tom has some ideas of what he thinks is going to be taking place.
There is now a cow sheet. There's a little bit of audio, so somebody's thing is on. There's a little bit of a cow sheet that is saying, what did cow sheet say, Rob? I think his chances, Spencer Pratt's chances of advancing, according to cow sheet, dropped to 8%. I don't know if it was cow. I think it was cow sheet. Dropped to 8% suddenly out of nowhere. Yeah, 6.8%. Look at that. Look at that.
Now they're saying Nithya Ramon is going to pass up and go into it. And the volume on this is $62 million. So what the hell happened the last 24, 48 hours? We will talk about that. The SAVE Act may be one of the biggest things that happened recently.
I don't know the exact numbers, but I thought it was 50 to 48, which is a good thing for the people that want to be able to not have people have an ID to vote. Because I don't know if you know or not, there's many states that you can vote without an ID. And the SAVE Act, which, by the way, Humberto sent a very good chart this morning that 83, 84% of Americans, Humberto, can you verify that?
83, 84% of Americans want voter ID to vote. So it's only 16, 17% that don't want it. 84% want voter ID, but the SAVE Act, we'll talk about that, then there's this guy that for 18 years wore a tattoo of a concentration camp, what was it? Concentration camp guards. Concentration camp guards.
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Chapter 2: What are the implications of the SAVE Act's failure?
We have a guy here who's rooting for him to lose everything. I don't want to say his name. I don't want to disclose him. But we got a guy that's looking like the guy from Boogie Nights. Dirk Diggler looking back. You put Humberto on the podcast twice. He now walks around thinking he's a superstar.
He was signing autographs. I saw that. That's the FedEx guy, dude.
No problem. No problem. I can go again. We haven't talked about World Cup, what happened. Japan goes to Mexico, and they say the conditions are so bad they're threatening to leave the World Cup, Japan. And by the way, Japan's been improving a lot with some of the stuff they're doing training-wise. But we'll talk about the World Cup. There's a lot of stuff there.
Henry Nowak, apparently there's a new video that came out, Rob, of the killer. Apparently he's accustomed to running around with that ceremonial knife that he has and he pulled it out and apparently they verified that it's him. We'll play that clip. And then I got a letter I want to write, read to mothers out there written by a daughter.
You know, a lot of times people say, oh, you talk about his father and son and all this stuff. How about some mothers and daughters? To all the mothers and daughters, I'm going to read something to you that's going to get you emotional. I read it. I said, this is awesome. Shared it with my wife. I think every mother needs to read this. It was very insightful and inspirational.
Anyways, having said that, we got some massive, massive news from our friend here, Vinny. Massive news that you guys have been waiting for. Go ahead, Vinny. Well, thank you, Pat. The black, the hat that I'm wearing right now, I'm going to take it off, my hair's going to be messed up, is the new Faith Over Fear black and gold. We have our shield here.
And I'm talking about gold stitching, like not real gold. Sick. But look at how ridiculous that is. Cross. Gold on the back, snap back with the Hebrews. Our crosses are on the inside. And I'm telling you guys right now, Pat, I wore this hat to- breakfast with Humberto and an older lady, 80 years old. Her name was Amy. She grabs me. She's like, I want that hat.
And I felt so bad because I couldn't give it. I couldn't. I'm like, I got to pitch for the podcast. And Pat, she went on the story for 20 minutes. Ask him. He's my witness. About cancer and beating it and having faith in her. She was so calm, Tom, saying that. She's like, even if I didn't, I still have faith that God would take care of me. It was an emotional.
I forgot that we're even eating breakfast. But this, I'm telling you, besides just a hat. It's a conversation starters, letting people know. I can't tell you how many times in that same diner, Pat, I'm sitting there at the counter and there's a congregation, people are telling their stories. So this hat is out right now, people have been asking for it and the white and black just got restocked.
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Chapter 3: What changes are proposed in New York's gender-neutral language laws?
We were working with our partner, Decision Desk HQ, and we had feeds from all 50 of the secretary of states coming in and we could see the votes coming in and we could see the way they came in. And it looked there were some states that looked really funky. Lumps will come in. You get the Bucks County, Pennsylvania, and it's a crapshoot. You just that was my word for it. But you go to L.A. here.
Well, we're doing this methodically. And they show you this beautiful warehouse, organized tables, people sitting there apparently doing their jobs. But the question is, where are those white buckets full of those mail-in boats coming from? And when does the music stop? And who doesn't get a chair? Rob, what is this, Rob?
This is the president yesterday talking about the California elections, gubernatorial and the L.A.
mayor.
Go for it.
We just don't want cheating in our elections. And you see it happening in California. Those numbers are coming down rapidly. They found a lot of mail-in ballots last night, shockingly.
So we don't want that. Then we added best of. This is best of Trump. No men in women's sports. No transgender mutilization surgery for our children. Okay. Okay. So go ahead, Tom.
And it goes to voter ID. We have seen everybody in the media, even CNN. Harry Enten has done several segments. We don't need to go to them. But he covered that overwhelming percents of Hispanics, of black voters, of white voters, of rich voters, of poor voters, of Republican voters, of Democrat voters.
Voter ID is not a controversial issue in this country. Look at this. Play this rap. Go play it from the beginning, please. The American people are with Nicki Minaj, because what are we talking about here? So take a look here, favor voter ID to vote. Look, I got all this polling on the screen going back since 2018.
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Chapter 4: What are the implications of the Democratic Party's stance on Trump?
So you can't even use the whole narrative of like, she's just a Trump sycophant. All she does is vote for Trump. Her whole notion is that she sort of is the most moderate or even liberal conservative, if that makes any sense. But it just affirms one last thing. Democrats are willing to look
The entire different wrong way, as long as you say, dude, we don't care if you're a Marxist, Islamist, communist, trans, woke agenda, do you hate Trump or not? And he goes, I solemnly swear to hate Trump. Boom, Nazi tattooing you, you're part of the party. That's the problem with the Democratic Party. Wasn't Susan Collins one of the ones that... What is it, J6? Yeah, J6. No, no, not just J6.
She's one of the ones that voted against Save America Act. She just voted against it yesterday.
Chapter 5: What is Michael Saylor's Bitcoin strategy amid market challenges?
This is what she does.
This is who she is.
She and Lisa Murkowski of Alaska are buddies, and they are the two problem children when you're trying to get the Republican vote in the Senate. And you know what? This is what's interesting. You're starting to see people on the right. big, big names, starting to endorse Susan Collins for the first time in 20 years. They say, listen, I mean, big names, you know all the names.
They say, I've never endorsed this woman. She's a rhino. What do they call that, a rhino? Republican in name only. So all these people are basically saying, this is the first time that I'm going to endorse Susan Collins just because they want to anoint this Nazi-loving guy. That's the Democratic Party. Let's talk about a guy that...
He's got different kind of problems he's dealing with, but he's staying cool, calm, and collected. And that's Michael Saylor, who is $10 billion Bitcoin hole. What does strategy do now? I don't know if you guys have seen this. Bitcoin is down now 50% of its high that it hit. I don't know what the number is right now. It could be between $59,000 to $61,000. It's at $60,000 as of right now.
If you go max, go to five years, Rob. Look at the peak right there. Go all the way to the peak, $1.25, $1.20 something.
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Chapter 6: What warning does Anthropic give about the future of AI?
So it's down 50% from its peak. Just last fall. That's right, just last fall. And so Strategy Inc. is facing renewed scrutiny as the company faces an unprecedented $10 billion of unrealized loss on its Bitcoin holding. Marketing commentator Kyle argued on Exxon June 4th that the company's preferred share dividend obligations could turn Michael's
sailor from Bitcoin's biggest buyer into potential for seller. The company's Bitcoin accumulation model worked while the company funded purchases through equity issuance, convertible notes and other financing tools that did not require near term cash payments. The concern now is that strategies newer preferred shared products, including Nasdaq's STRC, carry yield obligations.
Strategy owns roughly 4% of Bitcoin's total supply, making it balance sheet, one of the biggest swing factors in crypto markets. Kyle argued that earlier strategy financing was easier for bulls to defend because common equity has no guaranteed return. The company could sell the stock, but Bitcoin and rely on BTC's long-term appreciation to support share price.
Preferred shares changes the math, he said. Tom, your thoughts on this? So I take us back into history. You know, let's go back to Elon Musk's difficult and painful 2018. Remember when we talked about Elon Musk? Oh, my gosh, the debt's coming due. He has so much debt on the gigafactories.
And he's doing this to build batteries. He's doing all this. And he's spending all this thing.
And he went down and he's trying to build a launch pad at the end of Texas. What's he going to do? And remember all this, Adam? You remember this? We talked about this. All of a sudden, guess who will show up? Middle East financers show up, or he comes up with a bond and shows up. Great entrepreneurs find a way out.
Right here, the real question isn't, oh, my gosh, is he going to sell the Bitcoin? Is it going to crash? Maybe that happens. What happens if the market crashes tomorrow and Bitcoin bounces back to 115 or 120? Mm-hmm. Or beyond it?
What if Bitcoin gets to 140 because our own Senate can't get out of its own way and we can't get things passed and we have this debt and we have all the things going on and we have the inflation spike statistics get used and Kevin Warsh is forced to actual raise rates, which I don't think is a good idea. What happens if all this happens? You know what happens? Guess what?
The market's going to crash. It's going to be tough.
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Chapter 7: What new rules are introduced for the 2026 World Cup?
And what if Bitcoin bounces back as the alternative asset at that point? Where's Michael Saylor then? I think people are talking here are just, you know, they love to point at him. He was the first balance sheet company, right, where the Bitcoin on the balance sheet is really the reason to own the stock. Yeah. You know, I bet that's how I feel, Pat. I think people are making a lot out of this.
The math they're doing is correct. He does have dividends to hit. But I remember 2018, how hard it was for Elon Musk, you know, and how he had to go back. And in 2018, but guess what? He found financing partners. He got it done. He then achieved the launches on SpaceX. He launched more Starlinks. He figured out great entrepreneurs find a way to get it done.
And I think Michael Saylor will find a way to figure out the financing and to figure out what he's going to do on this. Because guess what? If a stock goes down, if you owned 100 shares of NVIDIA, let's say a month ago, And you bought them at $230. I think three weeks ago, two weeks ago, it was like $230. And now today it's like at $220. And you own 100 chairs. I lost a little.
On paper, you're down $20. It's now $211 this morning. It's down $746. I'm buying. Right. But do you see my picture? You're holding the shares that you bought for $230. Nvidia. You bought them for $230. And go back one month. Just go one month. There should be a $230 in there. There it is. So you bought it at $235. And yet today it's here. But you're holding the share.
Until you sell it, there's no loss and there's no gain.
Got you.
And so Michael Saylor's got to find his way out of this. True. He owns 840,000 Bitcoins in his company. And he owns $17,000 to $18,000 personally. So personally versus the company. You know, if Bitcoin goes to a million dollars, his net worth's around $100 billion, give or take. So this guy's banking on it long term. And by the way, to be in the business you're in, You have to be cool.
What do they say? Cool as a cucumber? You have to be so cool. He's got the right. Imagine somebody that panics, anxiety, all that stuff. If you're going through it right now, sell all of it. Sell it all. You have to be able to be like him. By the way, this guy is either going to be one of the richest people in the world or he's going to lose it all. And we'll see what side it's going to go.
Adam, thoughts? Look, I think Michael Saylor is going to have the last laugh here. To all the people, all the haters out there who are basically saying, you know, he's the poorest guy in the world. All right, give it a couple months. Let's see who wins here. Because, you know, it's always the people that don't have Bitcoin or that don't have money that want to hate on the people that have money.
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