‘Sudden amnesia’? Big Tech SCRAMBLES to regain favor with Democrats after voters rebuke Trump

I WANT TO TA ABOUT ALL THESE. COMPANIES BUT I FIRST WANT TO. START WITH THIS CLIP, BRIAN, THIS IS FROM A YEAR AGO THAT. THE COMMERCE DEPARTMENT POSTED. IT AND IT'S JENSON WONG TALKING. ABOUT HIS RELATIONSHIP WITH NONE. OTHER THAN HOWARD Lebeck. Howard is the person I talk to most. in the administration, and he's on top of the technology, is learning about the industry quickly, and I announced a historic partnership today, and he He was the first to know about it. And so I think the nature of commerce has really.

changed. And I believe that your generation, this administration, was the first to CONFRONTED HEAD-ON. OKAY, SO BRIAN, I JUST WANT TO BE CLEAR. NVIDIA'S FORMER CEO Jensen Wong. HAS BASICALLY BEEN THE. THE MOST INFLUENTIAL PERSON MAY BE IN THE WORLD, RIGHT, WHEN IT COMES TO WHAT OUR POLICIES, WHAT OUR A .I. POLICIES HAVE BEEN OVER THE LAST TWO YEARS.

AS IT RELATES TO CHINA. THIS SAME PERSON. EXEMPLIFIES THE ISSUE THAT LUTNICK IS GOING TO. HAVE WITH ALL THE THINGS YOU JUST SAID. YOU'VE GOT JENSEN WONG SAYING. ON THE RECORD THAT HE TURNED PEOPLE. THAT HE TURNED TO HOWARD LUTNICK THE MOST IN THE. ADMINISTRATION SEEMINGLY FOR ANY.

ISSUE HE MAY HAVE HAD AROUND AI. AND LIKELY CHIPS. AND THAT'S MORE, IF YOU YOU BELIEVE THAT. STATEMENT, THAT'S MORE THAN PRESIDENT TRUMP. THAT HE TURNED TO. THAT'S MORE THAN SOMEBODY LIKE. TREASURY SECRETARY SCOTT BESSEN. AND OTHERS IN THE ADMINISTRATION. HE IS SAYING IT ON I THINK THIS. IS A LITTLE BIT OF THE DEMOCRATS, AND I WOULD BET THAT IF THE DEMOCRATS ARE GOING TO SEE. THIS, THEY MAY JUST TURN TO SOMETHING. LIKE THAT AS. EVIDENCE TO SAY WAIT A MINUTE. HERE SECRETARY LUTNIK, AGAIN, WHAT WAS YOUR RELATIONSHIP LIKE. WITH THE NVIDIA C .E .O. AND WHAT HAPPENED? WHAT WINS DID Jensen Wong GET FOR.

NVIDIA WHILE GETTING TO KNOW. HOWARD LUDNICK IN SUCH A I THINK THAT'S GOING TO BE A. HARD THING FOR LUDNICK TO ARGUE. OUT OF IF THE FORMER CEO IS. ADMITTING THAT LUDNICK WAS HIS. KEY POINT OF CONTACT ON ON ISSUES POLICY-WISE AND. BEYOND WHO. KNOWS WHAT WITHIN THIS ADMINISTRATION. RIGHT THERE AS WE WE ARE LOOSENING UP OUR. REGULATIONS, ALLOWING NVIDIA TO SELL THESE HIGH-VALUE. CHIPS TO CHINA DURING THE ALL-IMPORTANT.

AI RACE WHILE DONALD TRUMP. PEOPLE THAT DONALD TRUMP IS SAYING TO THE AMERICAN. PEOPLE, YEAH, IF YOU DON'T GET, YOU SHOULD WANT A DATA. SETTER IN. YOUR BACKYARD AND IF YOU DON'T. THEN I GUESS YOU WANT. YOU WANT YOUR COMMUNITY TO BE. POOR AND YOU WANT CHINA TO BE THIS, WHILE HOWARD LUTNICK WITH THE BLESSING. OF DONALD TRUMP IS HELPING CHINA DO IT. JEFFREY, YOU THINK DAN IS WRONG. THAT THE WHITE HOUSE ISN'T I DON'T THINK I'M. GOING TO GET AWAY WITH THIS. RIGHT, THEY ARE SO SOILED BY. THEIR SUPPORT OF LUTNIK ON. THIS AND LUTNIK IS NOT GOING TO. GO LIKE CHRISTIE NOEM OR RUDI.

GIULIANI QUIETLY WITH. I DON'T KNOW HOWARD LUTNICK IS. NOT GOING TO GO QUIETLY. IF WE WEREN'T ON AIR, I WOULD SAY HOWARD LUTNICK. IS LIKE A. CROSS BETWEEN ELON MUSK AND FRED FLINTSTONE. THERE'S A LOT OF BREVARDO ABOUT THIS GUY. AND HE CAN BE PRETTY MEAN. IF HE THINKS HE'S CROSSED WITH THE PRESIDENT, HE'LL SPEAK OUT. BY THE WAY, THE NATIONAL SECURITY. ISSUES HERE ARE ENORMOUS. IS THAT WE CAN ALREADY WHAT WE SEE RIGHT NOW. AS WE'RE SITTING AROUND THIS TABLE, IT CAN BE DOCUMENTED THAT THERE ARE THE MAJOR.

CHINESE MILITARY. SCHOOLS AND MILITARY UNIVERSITIES ARE. WORKING THESE CRITICAL CHIPS. into weapons systems that are not yet. in Iran and Russia, but soon will be. This is horrible, not to mention undermining. our frontier. labs as a source of our economic advantage. because we hear about all this stuff. that supposedly Kimmy can do. And. THEY HAVE BEEN DOING IT BY STEALING U .S. CHIPS AND DISTILLING STUFF, IT'S A BIG PROBLEM. AND THEN HOW IS HOWARD TIED IN WITH IT ALL, THE STAIN THAT FLASHES BACK ONTO TRUMP?

IS THESE BIGGEST IT'S A LITTLE BIT. OF THE DATA CENTERS THAT USE THESE CHIPS, GUESS WHO IS MAJOR FUNDER OF THEM? IT'S NVIDIA. GUESS WHO HAS PROVIDED THE LOANS AND THE UNDERWRIDING. FOR. THEM AND HAS TAKEN THEM POINT IN THE PUBLIC. IT'S KANTOR FITZGERALD. BY THE WAY, BEFORE HOWARD LUTNICK HAD. THIS POSITION, KANTOR FITZGERALD WAS NOT A LEADER IN THIS. BUSINESSES, THEY ARE A BROKER'S BROKER. LET'S GO BROADER THOUGH THE OTHER. TOPIC I WANT TO COVER, SADIP, WE ARE NOW SEEING ALL OF THESE.

BUSINESSES SCRAMBLE, RIGHT? LIKE PALANTIER IS OUT THERE, LIKE WE GOT TO HIRE JOHN YOU KNOW, WE DON'T WANT TO HAVE DON JR. AS AN ADVISOR ANYMORE. THIS SHOULD NOT BE HOW BUSINESS. OPERATES. EVERY MAJOR COMPANY IS ALWAYS GOING TO HAVE. LOBBYISTS. THEY'RE ALWAYS GOING TO WORK WITH EVERY. BE ABLE TO MAKE EVERY POSSIBLE ADMINISTRATION. BUT HOW BAD HAS IT GOTTEN THAT. COMPANIES WENT FROM BEING 100 %. ALL-IN ON DONALD TRUMP OR THEY WERE AT THE VERY LEAST. HIDING FROM DONALD TRUMP BECAUSE. THEY DIDN'T WANT TO FACE HIS. WRATH AND NOW THEY'RE IN A MAD DASH TO SAY, OH, DON'T YOU FORGET, YOU KNOW,

I RAN FOR STUDENT COUNCIL IN HIGH. I WAS A DEMOCRAT BACK THEN. I WAS A DEMOCRAT BACK THEN. THERE'S GOING TO BE A LOT OF. SUDDEN AMNESIA AS PEOPLE. RETHINK THEIR RELATIONSHIPS WITH. DONALD TRUMP. THEY'LL KEEP THEIR DISTANCE, THEY'LL TRY TO COZY UP TO DEMOCRATS. I THINK THE TECH SECTOR OVERALL. IS A LITTLE UNUSUAL ONE IN THAT THEY GREW UP, PARTICULARLY THE COMPANIES THAT GREW UP. IN THE LAST 15 TO 20 YEARS IN. THEY WERE SUPPORTED AND SUDDENLY.

THEY SAW THE OPENING FOR PURE FREE MARKETS, FOR NO REGULATION, FOR PEOPLE NOT ACTUALLY PUTTING. THE PENDULUM SWINGS BACK AND. THAT THEY'LL HAVE TO LEAD TO A NEW ERA. THAT THEY FORGOT ALL THE RULES OF. WASHINGTON AT LEAST, THAT THE PENDULUM SWINGS BACK AND. THAT THEY'LL HAVE TO now pay for this, at least politically, if not in other ways. And it's coming at a particular. moment when the overbuild,

the overspend in parts of the AI industry have now. come. to a point where the web of financing is going to. have to be unraveled, whether it's NVIDIA or other companies. And the economic fallout could actually. weigh on a wider swath of companies. and the wider economy. Then I guess I want to get both of you on this, Dan, first. It's a little bit of like hate the game, not the player. Like, I think it's absurd watching. all these companies scramble to do it. But what's more absurd is that Washington has. created an environment where it's so.

Right? It shouldn't. I think you go back and make the argument. about Zuckerberg, for instance, you know, back in this guy was hauled in front of Congress. This is going back in 17, 18, about the involvement, I guess, is it related to this, you know, 16 election, that sort of thing. In September of 24, on the campaign trail, Donald Trump threatened to put.

Mark Zuckerberg in jail. I think he called him a traitor, right? So if I'm Zuckerberg, I'm probably doing the same. stuff. You know, but Zuckerberg also created. a technology that broke our brains. and now we're going to kind. of give them the keys to the kingdom. as it relates to AI, which is a far more important technology. than that of social media. So these guys were doing personally what I think. was most important to them. They're also doing it for their own companies, but they're also seeing dollar. signs that look like trillions, right? That sort of thing. I just want to make one point. because you cut me off before it is your show, okay?

I think there's a very reasonable. argument to be had or debate to be had. whether the Chinese should be, you know, reliant on our technology. Even if they are putting it into their defense and, you. know, in intelligence infrastructure, wouldn't we rather have them, I'm just making the case, be reliant on us? And, you know, one of the things about Nvidia. Yeah, let's do it. But let's not do it while there's a whole. Chinese spy situation. I'm not making the case for it. I'm saying but this is the way. that Nvidia thinks and this is the way. Silicon Valley thinks.

And this is one of the reasons why. This is the way Nvidia thinks. While they're all important CEO is embroiled. in a honeypot scandal. Brother, please. I'm not defending him. What I'm saying is it's a reasonable. argument but we could look back five years. from now and the Chinese let's just say. they innovated on their own. They created their own technology. They take a 50 year look. We take a quarterly look as our companies are. trying to manage their earnings. My point is, okay, if they were able to. innovate. in a way and then use their technology. as a digital belt and road. across the TAKE A LOOK AT THE WORLD,

WHETHER IT'S AFRICA, EUROPE, SOUTH AMERICA, ASIA. ABSOLUTELY EVERYTHING THAT YOU'RE. THAT'S WHAT YOU'RE SAYING. HERE'S MY PROBLEM WITH IT. IF ONLY WE COULD HAVE THAT CONVERSATION WITHOUT. CANTER FITZGERALD BEING THE BANKER, IF ONLY WE COULD HAVE THAT CONVERSATION WITHOUT. DONALD TRUMP OWNING MILLIONS. WE HAVE A CONVERSATION OF CHINESE SPY HONEY ON. THE SIDE. THAT TRIFECTA IS THE BIG FREAKING PROBLEM HERE. AND HUAWEI IS STILL IN INTELLECTUAL PROPERTY. BEHIND IT ALL. IT'S GREAT IF THEY USE OUR THEY ARE NOT. PAYING FOR IT. THEY ARE NOT PAYING FOR IT. THIS IS ANOTHER PROBLEM.

THEY ARE WITH THESE CHIPS, THEY ARE BUYING THESE CHIPS. BECAUSE. THEY ARE BEING PASSED TO THEM. BUT THEN EVERYTHING ELSE IS going sight unseen. You know, you talk to somebody from Nortel. You don't know anybody from Nortel. The company doesn't exist anymore. because Huawei stole their intellectual property. What's going on here is we're seeing. they're calling it distilling, you know, instead THE TRUMP ADMINISTRATION PUT. THE TARRIFFS ON. IT'S NOT A PROBLEM. THIS IS A PROBLEM. HOW DO WE HOLD THEM ACCOUNTABLE? THAT'S THE DIFFICULTY. WE'D LIKE THE WHOLE WORLD TO BE AGREED. THE IRONY IS YOU GO BACK TO 2017 WHEN THE TRUMP. ADMINISTRATION PUT. the tariffs on it was because they were.

stealing our intellectual property, right? So think about this. As it come kind of full circle, we still have tariffs on. We have more tariffs on. They haven't been effective. There's been a gray market in these chips, by the way, for years, okay? The honeypot situation is really bringing. it right to the fore, because they've gotten a lot more creative. Everything that had been going on in Singapore, where Megaspeed was set up, it'd been going on for years. There's been chips been flowing through there. So again, it IT DIDN'T STOP THEM. THE TARIFFS DIDN'T STOP THEM. THE EXPORT BANS DIDN'T STOP THEM. AT THE END OF THE DAY, I JUST FEEL LIKE THERE IS A.

REASONABLE. DEBATE ABOUT IT. NOT UNDER THESE CIRCUMSTANCES. I THINK YOU'RE 100 % IS THAT RIGHT, IT. IS YOUR SHOW? IT DOESN'T NEED TO BE MY SHOW. THIS COULD BE A DINNER PARTY. 22 % OF THEIR REVENUES CAME FROM THIS LITTLE. TINY ISLAND TAKE A LITTLE BIT MORE THAN. SIX MILLION PEOPLE THE SIZE OF PHILADELPHIA? WE'RE JUST GOING TO LEAVE IT. THERE. LISTEN, I'M HERE FOR ALL OF THIS COMPREHENSIVE REFORM, ALL OF THESE BIG IDEAS, THE PROBLEM I FACE IS ALL. OF IT. IS UNDER THIS GIANT CLOUD OF STINKY CORRUPTION. SIDEEP AND BRIAN, I'M SORRY I DIDN'T HAVE.

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