Former US Secretary: America Is On The BRINK, And We're Running Out Of Time! | Pete Buttigieg

I'm really worried about where we're. headed as a country. Right now. >> American system is so out of whack that. if you are a multi-billionaire, you. probably pay a lower percentage in taxes. than if you're a school teacher or a. firefighter. >> You have levels of inequality that we've. almost never seen. There's a rise in. political violence, the collapse in. trust, and the biggest thing of all that. we're facing right now is this massive. debt. But it's now escalated to a level. that no one can ignore. >> How How do you think this plays out? >> I mean, you know, we're on the brink of. losing our democracy and we're running.

out of time to do something about it. >> Secretary Pete Buttigieg, Trump made a. lot of promises when he came into power. Keen to get your perspective on the Iran. war. >> So the president can't explain why we're. there. There's a lot of reasons to. suspect that we're just at war cuz he. wanted us to. And now he can't figure. out how to get us out of it. Troops have. lost their lives. [music] Prices are. higher. You're paying more for gas and. for food, for for mortgages because of. this war. And so the the next president. will be doing this at a big disadvantage. because so many relationships with our. allies have been burned. >> So I'm keen to get your perspective on. the AI, good, bad? Should we implement a.

wealth tax? Is there anything you. respect about Trump? But also greater. Israel, for example. What does Netanyahu. want in the region? And then be the. first person in a presidential candidate. to be openly gay? >> Uh definitely the first person who's. considered to have a shot. And when I. finally made peace with this [music]. reality. that I was gay, I was well into my 20s. cuz I wanted so bad for it not to be. true. And I'd like to believe we'll get to a. day when it's just.

not a thing. No one cares. >> Secretary Pete Buttigieg, are you going. to run to be president in 2028? >> Um. >> This is super interesting to me. My team. gave me this report to show me how many. of you that watch this show subscribe, and some of you have told us, according. to this, that you are unsubscribed from. the channel randomly. So favor to ask. all of you, please could you check right. now if you've hit the subscribe button. If you are a regular viewer of the show. and you like what we do here. We're.

approaching quite a significant landmark. on this show in terms of a subscriber. number. So, if there was one simple, free thing that you could do to help us, my team, everyone here to keep this show. free, to keep it improving year over. year and week over week, it is just to. hit that subscribe button and to. double-check if you've hit it. Only. thing I'll ever ask of you. Do we have a deal? If you do it, I'll tell you what I'll. do. I'll make sure every single week, every single month, we fight harder and. harder and harder and harder to bring. you the guests, some conversations that. you want to hear. I've stayed true to. that promise since the very beginning of. the Diary of a CEO, and I will not let.

you down. Please help us. Really. appreciate it. Let's get on with the. show. >> [singing]. >> Secretary Pete Buttigieg, how are you. feeling about the nature of. politics at the moment? But I should. probably say the nature of American life. at the moment. >> I'm really worried about where we're. headed as a country. I think many ways. our our entire existence has been about. creating a different kind of political. system and introducing it to the world. That's what we're about. And now that. whole project is in question. That whole.

project is In my view, it's on the. brink. >> On the brink? >> Yeah. >> What do you What do you mean by that? >> I mean, we're on the brink of losing our. democracy. The whole idea of this. country, the whole idea of overthrowing. a king. was that everyday life would get better. if we set up a country where the people. are in charge of the government instead. of the other way around. And now we're in this moment where after. all of the things we've gone through for. decades, for 250 years, it's not clear if that's going to work.

out. I think it will. I believe it will if we. do what we have to do. But that means reforming, tuning up, changing that political system. because the the problems in that. political system help to explain. all of the economic problems. that I think so many Americans are. living with, where you've had enormous. economic growth and shockingly little of. it making it into people's pockets. Where you have. levels of inequality that we've almost. never seen.

in this country. And then the other. thing is. there's there's the American promise in. terms of the system, the politics, the. government, democracy, the America's. gift to the world. Creating democracy. But there's the economic version of. that, which is the American dream. Like the idea that no matter how you. start, no matter who you are, you can come out ahead of where you. started economically. That used to. happen for nine out of 10 Americans. Statistically, the place where you're most likely to. live out the American dream right now is. Denmark. And I want that to be America.

>> And systemically, if we just think from. a high level, what is the what is the. essence of of why Denmark is a better. place for the American dream? What are. the systemic problems? Is it with the. current administration? Is it with the. perspective on what a good life looks. like in America? Or is it greed? Or is. it something else? >> Well, I wouldn't say it's just the. current administration. I mean, I think. I think the current administration isn't. helping, but I I think the problem is. much deeper than that. Uh a lot of it is. the last 30 or 40 years, we've had. policies in this country.

that make it harder to get ahead if. you're not already starting out well. off. Even just the way our taxes work, they they they tax work. more than they tax wealth. That's really. catching up to us. I mean, it has. created problems. I believe it's created. problems for decades, but you feel it in. a different way now. And when inequality reaches a certain. level, and when the inequality of power follows. the economic inequality to a certain. level, that's when I think you start to. have earthquakes in in the society and.

what it feels like to live in this. country. And I think we're going through. those earthquakes. Uh not just Trump and. everything he represents, but the rise. in political violence, the collapse in trust in our society. All of these things I think are related. to that. And we're running out time to do. something about it. >> Trump made a lot of promises when he. came into power. >> Mhm. >> He won in a bigger than expected. victory, I would say. Why does he. resonate? >> Well, first of all,

I think he speaks to a lot of people who. know that the system has let them down. And even though I think he's somebody. who really benefits from the system. as it is, it's made him rich and kept. him rich. You know, his message was, "I'm going to blow it all up.". And I think he's blowing up all the. wrong things. But look, if if the. system's let you down, you know, you're. only going to vote so many times within. that system before somebody comes along. says, "I'm going to blow it all up." And. you say, "Well, I I might not even like the guy, but uh.

I'll give him a shot to see if that. makes me better off." Now, I also think. he lied to a lot of people. Um. you know, some people voted for him. because they believed him when he said. he's not going to start a new war. Many people voted for him because they. believed him when he said, "On day one, he was going to start lowering costs.". And right now, inflation's higher than. it was the day he took over. So, these promises weren't true, but they spoke to something that I think. a lot of people had on their mind that.

that made a lot of people willing to. burn things down. And there's a lesson for my party in. that. I'm obviously passionately against. many destructive things that he's doing. That doesn't mean the answer is to. quote-unquote reverse the damage, put. everything back the way it was. >> Mhm. Because I you're right that that the. Democrats have a lot of responsibility. here. Um for a lot of reasons. I think the. very fact that Trump was voted into. power says something about how people. felt with the previous administration,

which was a Democratic administration. What responsibility does the Democratic. Party have for getting the country to a. place where they thought Democrats. weren't the solution? Because that's kind of I think a lot of. people thought that's just like more of. the same. Yeah. Maybe. people are getting increasingly I think. across the Western world by the looks of. it increasingly tired with like. politicians. saying these like cute words and like. we're going to help the working people. and blah blah blah blah and being very. polished and then you see this these. other figures that have come in and said. I'm not a politician. Yeah. And as you.

say, I'm going to burn it down. And for. some reason people are choosing that. >> Yeah. Even though when they do usually. that person makes it worse and so that's. why the president's unpopular. But the. president is unpopular. To your point, that doesn't mean people are. automatically going to trust Democrats. >> Yeah. >> Right? Uh so I mean the answer to your. question is yes, Democrats have a. responsibility. to present something that is better not. just better than now, but it's got to be. better than before. The fact remains a. lot of these results have unfolded on.

you know, kind of regardless of who's in. power. >> Are you going to run to be president in. 2028? >> I don't know. Um. I would have to believe and this is how. I've approached every every time I've. decided to run for office. It's. looking at everything that the office. seems like it needs. not just generally but in that moment. And then looking at what I bring to the. table and asking myself, okay, am I. bringing something that's different. enough from what others are bringing. and that fits like that moment. Like.

that's what led me to run for mayor. which is a pretty unlikely move in in. South Bend, Indiana when I was in my. 20s. It's what led me to run for president. when I did almost eight years ago now. >> Oh, you're in what's here? Secretary. Um. you said politics often favors someone. who is completely different to the. current leader. And that you could not be more different. from Trump. I quote, an intellectual young. gay mayor from the Midwest.

You know, Amazon have this really. interesting thing when they hire people. um which we've copied. They every time. you meet someone you have to vote one of. four things. You either vote strongly. not inclined, not inclined, inclined, and strongly inclined. So, you've got. four options when you interview someone. We do the same in our company now. We. took it from them. And the whole idea. here is to prevent people from sitting. on the fence, which is like what is your. inclination? So, if I presented you with those four. options as it relates to you running for. president in 2020 as things stand, and. this is just a balance of probability,

are you inclined, not inclined, strongly not inclined, strongly inclined? >> Um. >> On these podcasts, nobody ever tells the. bloody truth. This is why it's difficult. sometimes to interview politicians, cuz. we all have an inclination, right? >> Yeah, I mean, one of the reasons why I. hesitate to to talk in those terms is. because you know that like people are. going to run with it and it'll be this. like news of the day thing and it'll, you know, it'll kind of dominate the. next couple of days when you're trying. to talk about something else. But. >> Does the truth just not matter more. though than the consequence of the truth.

in this regard? >> Yeah, but the truth about like what you. know, what I'm maybe going to do like. there's a there's a level of like not. even being certain. some of the things I'll have to weigh. Like before having made a decision like. this before, I can tell you that there's. the read. >> I need to the inclination. >> Like I'm I'm obviously not to one end or. the other. >> Yeah, okay. So, you're not those two. >> I think I'm. like more inclined than not. >> Okay. Then.

I appreciate. >> Um. But there's so much we don't know. There's so much I don't even know about. what's going to happen this year, let. alone you know, what we need to know. later. Um. And this is not. you know, the weight of a decision like. that. And I don't just mean like the. national political weight, but just like. the weight of a decision to run for. office for you and your family, which frankly I did not fully understand. but until I had kids. Uh that's changed. all of my equations.

>> Mhm. >> [clears throat]. >> Um it it's just something that you. really sit with and take seriously. At. least you you should. >> One of the big things that people are. talking about at this moment in time is. the Iran war. Yeah. And this feeds into. some of the points we were touching on. around promises kept and not kept. What is going on. in plain terms? Cuz Americans are. getting lots of messages. We've. destroyed everything in Iran, the. military bases are all gone, and then. we're back at war and American lives. have have been taken. >> Right.

>> Can you help us see through all of this? >> I think what's going on is the president. has painted himself and the country into. a corner. There was a a moment where it seemed to. him that he was better off politically. if we were at war. Even though he promised that we wouldn't. be, even though a lot of his supporters. didn't want the war, and certainly the. the American people as a whole don't. want it. But, he was under a lot of heat. over cost of living, over the Epstein files, which was. dominating the conversation every day,

being proven to be as connected to an. infamous pedophile. as Jeffrey Epstein, and then doing. everything he could to cover up. disclosures about it, right? This is. something that obviously was something. that was creating a ton of heat on the. president. Meanwhile, there's a lot of. people in his ear every day, and some of them, from American. politicians to people around the world, would really like to see him go to war. >> Why?

>> Well, it's kind of the tradition of the. Republican Party is to generally be more. pro-war, right? That's I mean, that you. know, my coming of age was at the time. of the Iraq war. In fact, a big part of what kind of. pulled me fully into politics was being. opposed to the Iraq war. >> One of the things that a lot of people. won't know about you is that you did. actually go and serve. your country. I got some photos of you. here serving. And I think got your. parents I think post Afghanistan as. well. >> Yeah, so the day I got back. >> I just think it's important for people. to know that you can speak to this quite. accurately having served your country.

>> Yeah, man. I know what it feels like to. get on a. gray tail airplane that's taking you. into a war zone and and wondering what's. waiting for you there. Where we are now. is a lot of troops are in that. situation. They're in harm's way. And. the president doesn't seem to have a. plan. He can't explain why we're there. He's said it's for regime change. He's. said it's for unconditional surrender. He's said that it's to get deal with. their nuclear program, but last year he. said they obliterated the nuclear. program. And so it.

does a lot of reasons to suspect that. we're just at war cuz he wanted us to. be. And now he can't figure out how to get. us out of it. And it appears that any way forward. leaves us worse off. than we were before the war. Prices are higher. Troops have lost their lives. And it seems like the least bad options. still involve Iran having more control. over the Strait of Hormuz than they were. asserting. But here we go. Most.

Americans shouldn't have to be worrying. about the Strait of Hormuz. They got. enough to worry about. And a year ago we weren't. That was not. a problem. Whatever was going on in the. Strait of Hormuz did not feel like it. was a problem. You know, where I live in Michigan. And. now it is. >> Why though? What What was the like. domino effect that caused him to go, "You know what? I think we can just go in there, decapitate the leader. >> Yeah. >> and and that's victory.". >> Obviously this is a question for the. president, but honestly. I don't fully understand why they would.

do something like this, especially. because we know. like you didn't have to be like an. expert in international affairs and. security studies to know. if we actually attacked Iran. they were going to shut down the Strait. and try to the world economy. The It was literally the most obvious. next thing that could happen. And yet it seems like. he either didn't understand or didn't. believe. Surely he was told this. We. know in fact it's been reported that he. was told this.

And he did it anyway. So, how does that happen? I mean, I have. long given up trying to see into the. mind of this president. >> Dare I say, if you are president in. 2028, this could be your responsibility. to resolve. >> I mean, I really hope that the next president. isn't facing this war dragging on into. 2029, but I mean, yeah, one thing we. have learned is that it is harder to. stop a war than it is to start one, which is why if you have any other. reasonable choice, you don't start one. >> So, what are you going to do if you are.

president? >> Look, the next president will face a. complicated, violent, and challenging Middle East and world. map, no matter what. And the next president's going to have. to deal with that. while dealing with a more assertive. China, and a. dramatically, swiftly evolving security. landscape, partly because of things like. AI. >> Mhm. >> But just as you and I are sitting here. now, there's a lot of headlines about a. big safety issue created by an AI model.

that was supposed to not even be able to. access the internet, managing to get. itself on the internet and hack into. another company to get the answers to a. test that it was told to solve, right? And that's as of today. in 2026. The things that could be going. on by 2029. are surely going to change. both what we're up against and what's. possible. Look, in the same way that there was a. nuclear hotline between Washington and. Moscow, because it turns out.

even while at each other's throats in a. lot of ways, one thing that. Americans and Soviets didn't want was to. incinerate the planet. >> Mhm. >> There's going to have to be some way for. countries that do not trust each other. on things like making sure AI doesn't. lead to bio weapons being made by rogue. actors or even individual actors. Making sure that it doesn't lead to. nuclear proliferation or any number of. other problems, right? That could. happen. So, the security picture I think.

will be more challenging for the next. president than it's been for. any president since the Cold War. >> So, what kind of president in terms of. mentality or character experience do you. think can meet those challenges? >> Well, you need somebody who's deliberate. and decisive. Uh those two things sometimes are in. tension because deliberation means you. slow down, you look at what's going on, and you think about it. >> Mhm. >> But, decisive doesn't mean that you. immediately make a call every time a. question is put to you. It does mean. that you once you feel like you've got. enough information,

you make a decision, you own the. consequences of that decision, you move. on to the next decision. And I think in terms of kind of. character and style, we're going to need. both of those things. We're going to. need wisdom, we're going to need. judgment. And we're going to need judgment that is. not twisted or changed or colored or um. biased. based on. corrupt reasons. And the reason I. mention that is because right now. we've got for the first time ever out of. all of our presidents.

uh. a president whose family is making. billions of dollars. from things that are sometimes directly. connected to the decision. of a foreign government. Right? Uh there. was one government in the Middle East. that put hundreds of millions of dollars. into the family crypto fund of this. president. You got Saudi Arabia investing in the. first family's business interests to the. tune of I believe a couple of billion. dollars for the president's son-in-law, right? And we just can't afford with everything.

that's on the line right now. to have the next president be. someone who could remotely be influenced. by those kinds of considerations given. everything that's on the line for the. American people and for American. security. >> When you look at that the picture um in. Iran, it's all well and good saying we. have to uh we have to get out of there, but how? >> No, the only good way to do it is to not. be there in the first place. Yes, it's. too late for that. And so, as is often. the case in difficult decisions that.

executives face, it will be finding the. least bad combination of options, which. probably means engaging a lot of other. countries, a lot of regional partners, uh a lot of allies. Now again, the next. president will be doing this at a big. disadvantage. because. so many relationships with our allies. have been burned. It turns out you you build relationships. with allies not just out of friendliness. or cuz it's neat. You do it cuz you're going to need each. other someday. And the worse something. is, the more difficult a problem. It's.

just like life. You know, the times I'm quickest to call. a friend are the times when I'm hurting. the most or feel like I I I need help. the most. Same is true for countries. The tougher your situation, the more you. got to have friends you can count on. We. are in a very tough situation in Iran. We will be for a long time. We need our. friends. >> Cuz you know, you're dealing with a lot. of um dare I say very large ego leaders. around the world. You got your Putins. I don't even know. who's running around at the moment. Then. you've got China.

Um. does it need a leader with a ego of the. same size? You cuz I sometimes I think like I I I. think crazy people kind of respect crazy. people. You know, in which way? >> I think a lot of different ways to deal. with people like that. But I think the the most useful is to. earn a level of credibility. And when we're talking with allies, a. level of trust. When you're talking with adversaries, it's maybe not the same thing as trust, but it is credibility. That when you say.

you're going to do something or you seem. like you're going to do something, you're going to do it. It means less energy gets wasted on. guesswork. And it means you have just a little more. stability. I think something all of us. are looking for in the world right now. is for it to just be a little more. stable. And. by the way, the way to do that is not to. like rewind and imagine that we can make. the world look the way it looked in. the '90s or the '50s. It's not like. that. We're going to have to find new.

ways to create a stable future. But. look, there there are as many different. kinds of personalities in world leaders. and presidents as there are, you know, in humanity in general. But it'll need. to be somebody who, like I said, is. deliberate and decisive, tough and fair, and credible. >> Yeah, the the the Iran situation is. particularly. particularly uncertain for many reasons. In part because I don't know who the. leadership there is anymore. In part. because they it seems like they will now. control the Strait of Hormuz, or at. least use it as leverage, really.

respective of what outcome takes place. And in part because you still have this. nuclear threat. >> Yeah. >> Um but they are probably now more. motivated to develop nuclear weapons. than they probably were under Obama when. he signed that. that agreement with them. >> Yes, they may have less capacity, but. they certainly have more motivation at. this point. >> Would you let them develop nuclear. weapons if you were president? >> No. They should not be allowed to have. nuclear weapons. Uh a nuclear-armed. Iran, I mean, look at the malevolent. activities that they already have.

pursued with conventional means, terrorist groups around the region, around the world. Like this is not a. regime, certainly not in its current form or. anything resembling its current form, that could ever be trusted with nuclear. weapons. No. Different presidents, each of the last. few presidents, had a way of making sure. that that never happened. The best way to do that was through. diplomacy. That was the whole point of. the Obama deal. The first Trump administration tore up. the Obama deal, but couldn't get a better deal. And. then, when the Biden administration was.

trying to get a better deal. It was very hard to work across the. table to get the Iranians to negotiate. because they remembered that it was. Trump who tore up the Obama deal, right? It's part of what I mean when I talk. about credibility. It doesn't mean that. people across the table have to like. you. It means they have to have some sense. that it's at least worth dealing with. you, right? And there's not a lot of that given that. kind of instability, that pattern that. we face. You know, I followed American. politics I think since I was about 10. One of the things I've never heard. mentioned so much in politics is.

Israel. Mhm. It appears to me as a. objective observer that the subject of. Israel is now so central to politics. >> Yeah. >> Why? What's going on with the the US's. relationship with Israel and the public. sentiment towards Israel? >> Well, it's getting a lot of attention. because many very important things are. at stake and they've been put into. conflict with each other. Right. And each of those things is a valid. thing, at least in my opinion. And then. I'll name three. One, which has become.

very challenging for many Jewish. Americans, is the safety of Jews around. the world and in America. Theoretically, that could be separated. from what's happening in Israel and. Palestine. But in the real world, there's been a relationship. between between what's going on there. and an explosion in anti-Semitism that. has many American Jewish families afraid. for their safety. Another thing. is the.

safety and dignity of Palestinian people. who in Gaza, but not only in Gaza, have been subjected to horrific violence. and in my opinion, war crimes. And alongside that, there is the safety and dignity of. people in Israel. who we have a security relationship with. as a country and have since the since. the Jewish state of Israel was founded. The future and survival of Israel as a.

Jewish state. And. a country that is still responding to. the worst day of the most violence. against Jews since the Holocaust. Those three things, I believe in. principle. can be honored at the same time. In. fact, I believe in principle they have. to be honored at the same time. >> Is that what Netanyahu wants? >> No. I don't think he is remotely. interested in. the safety and dignity and security of. Palestinian people. I think he believes. that uh he would be better off if they.

didn't exist. Or at the very least, he doesn't want. them around, right? And so we see a. policy which. obviously has led to what it did in. Gaza, but also in the West Bank. which gets less attention, maybe because. there's been. fewer deaths there, but uh. pretty horrific behavior and conduct and. violence. from settlers. that is part of a project of making it. impossible for there to be a.

secure, viable Palestinian state. >> So what does Netanyahu want in the. region? >> Well, I don't know that I'm much more. capable of seeing into the mind of. Netanyahu than I am seeing into the mind. of Trump, but looking at his choices, it seems that he wants to be able to. assert. domination of. uh any other regional player. And something that is beyond just. security and safety for the people of.

Israel, which is something that I. believe in and something I think is hard. to argue with, but something else, which is a. project of. taking over what is called Greater. Israel uh in his ideology, in his. worldview. >> Greater Israel, yeah, Eretz Israel. >> Which is a vision that does not have a. lot of room for Palestinians. anywhere between the river and the sea. He won't say it in those terms, but. if you look at his actions, it is hard to believe that he is.

comfortable with anything less. >> What's your take on how Trump has. treated Netanyahu in that relationship? Is that the relationship you would have. had? >> It's not the relationship I would have. Um I think like all things with Trump, it's pretty transactional. It's. instrumental. It's what's in it for me. And I think part of how that has. developed into a frenemy relationship. now is that. you know, the relationship that maybe. served him well politically is not so. good for him now because among other.

things, Netanyahu has an interest in a. continued US presence in an Iran war. that has gone from being something Trump. would thought would be politically. useful for Trump to something that is. politically dangerous for Trump. >> How How do you think this plays out, Secretary. What what do you think happens? You. know, I said there I sort of. hypothesized that by 2028 this will. still be dragging on because from my. perspective, you're either going to kind. of lie to the American public and say.

that and declare some kind of victory, >> Hm. >> or you're going to stay in there. There. I can't actually see a third option. personally. So, how how do you imagine. this playing out? >> It's going to be hard to get out of. Iran. Like we just cannot. First of all, the president has already. backpedaled a lot, even though he would. never admit it, on what we're there to do. Cuz he said. unconditional surrender, that's not. happening. He said regime change, regime. hasn't changed. We went from Ayatollah. Khamenei to Ayatollah Khamenei Jr. At. least on paper. Who knows if the guy's. alive, but the regime is alive. But the.

regime's entire ideology is based on. hating the United States, right? And now. that the United States has done this, hard to believe that's going to change. There will have to be an exit that is. very unlikely to be the unconditional. surrender that Trump promised. But it has to be something that is. tolerable to this country, to our. country, to Americans, which includes. passage through the Straits of Hormuz. And the only way to do that, I think, is with a lot of international partners. who want the same thing to happen. Remember, anyone who is to Iran is.

feeling more economic pain even than we. are from what's happening in the. Straits. >> China and. >> Yes, because East Asia relies on oil and. and goods that go through there more. >> Mhm. >> So, I think what you're going to have to. have is a regional and international. partnership. that. ensures something at least resembling. free passage of goods and security. without the US sending troops in there. or continuing to be a war. It's it's.

it's seems like the only way, but it's. unquestionably worse than where we were. a year ago before the war started. >> Did you hear recently that Trump. mentioned, I think it was at the G7. summit, we run out of reserves about 4. weeks. You know, there are reserves all. over the world and we would really run. out and there'll be time when we. wouldn't be able to get it. It would be. bedlam. And he made these comments last. month, 2026 at the G7 summit, in regards. to the amount of oil the United States. have left in the reserves. He was I.

think he was framing it around why he. signed this memorandum of understanding, this agreement with them. But, you know, in the last week we've gone back to war. in the Strait of Hormuz appears to be. closed again. >> Right. >> So, when we think about oil reserves and. how that impacts ordinary Americans and. what might be around the corner. Like, there's a real pressure here. to find a solution and to find a quick. >> Yes, I mean, look, this is why he signed. an MOU. that was frankly more on Iranian terms. than American terms. I mean, the. ceasefire, so-called ceasefire,

emerged from a deal that was really us. responding to what Iran came up with, not vice versa. Again, he said he was. out for regime change and unconditional. surrender. We're not even talking about. that anymore. We're nowhere near that. And now we have is a set of conditions. it's us redlining their texts, not the. other way around, right? And then he's. trying to figure out how do I go out and. sell that? And so he points out. something that is true. Sometimes he. tells the truth when it serves him. And. when he was trying to explain why he. backpedaled on his war goals, the way he explained it was by admitting.

that there was a level of economic. vulnerability. that was unleashed by closing the. strait, which is what Iran did to. respond to the US attacks, right? But the problem is that ceasefire is not. happening, at least not as you and I are. sitting here right now. Still a hard thing for them to admit. You know, in the same way that. he took out a Sharpie to modify a. hurricane map rather than acknowledge. that he was mistaken about some detail.

uh during a national disaster once. His administration deleted four names. from the ranks of those killed in action. in this conflict. because they were afraid that listing. their names. would contradict him saying that we had. a ceasefire. >> Really? >> Yeah. At least that's the only explanation I. can think of. The crazy thing is all of us know. there's a war. We've even had moments, remember I think it was Secretary Rubio. said in Congress. where there's.

punishment for lying. You know, you're. supposed to lie to Congress. He said the war's over. We all know the war's not over. >> Are they stuck? Cuz they seem a bit stuck to me. I was. watching Hegseth in in front of I think. it was Congress. Yeah, it was Congress. the other day and they're just repeating. his quotes back to him over and over and. over and over again. >> Yeah, cuz how's he supposed to explain. that we're in a war that supposedly we. already won? That we're not getting any of the things. that were supposedly worth going to war. over. And that the bill for this keeps getting.

bigger in terms of tax dollars. I think. his latest number was 37 and a half. billion dollars. It's our money, all of us as American. taxpayers. And of course the cost in lives. And the cost in terms of everything in. America starting with gas being more. expensive. They don't want to be. explaining that, right? But they don't have a great way out. either. And. they're not prepared to lead us to a. better place cuz they don't even know. what it looks like.

>> Is there anything you respect about. Trump? >> Sure. Um. I think he has been able to. create the impression. of a bias for action. And I think he gets a lot of credit for. that. I think in general and especially. in government. there's a lot of hand ringing. Like, oh, we got to have a 19-step process to get. all these things exactly. I saw this. during my four years trying to get stuff. built in this country.

as Secretary of Transportation that. there were so many hoops and so much red. tape. And he comes in and he says like, don't. not do that. We're just going to do. this. Yeah. Often what he's doing turns out to be. illegal and it gets reversed. And. obviously I think most of his policies. are probably destructive. But I I think. you have to respect the effect that he. has had. with that kind of bias toward just doing. something. And I think we could learn a. bit from that. >> Is that a case for less politicians in.

power and more entrepreneurs? >> Look, I I think he's a politician. through and through. I think that on. some level. every CEO is a politician. Every general is a politician. Every. bishop is a politician. You just reach a. certain level. where part of what you're doing, if. you're being honest with yourself, is. is what is considered politics. Which by. the way, I don't mean it in a pejorative. way. I mean it's. organizing people's choices.

loyalties. and organizing power in order to get. things done. >> I think the difference I I I understand. what you're saying. I think the. difference especially with founders is. um founders got from. started at zero and got somewhere. because. they had to be like highly. have a high bias to action. >> Yes. >> Believe that walls were made of paper. and be disruptive in some I mean that. the reason they were successful is. because of disruption. >> Yeah, the best thing about founders is. they see something that could be.

>> Yeah. >> and the way things are just doesn't even. bother them. >> They just see that vision and they just. go after it and they blow through every. wall between them. >> Yeah. and getting it done. >> That's the best thing about founders. The worst thing about founders if from a. political perspective is that sometimes. because they were so good at one thing, like uniquely sometimes world. historically good at one thing, they imagine that they're good at. everything. >> Yeah. >> Now, that's not just a problem with. founders, that's probably lots of smart. people. >> Yeah. >> But politics requires you to be a little. bit humble about how much you don't know.

and surround yourself by people who are. smarter than you at whatever it is. they're in charge of and not imagine. that you've got all the answers. >> Founders hate bureaucracy. >> Yeah. >> This is why they often. >> I mean look, I'm pretty impatient with. bureaucracy, too. Like I I believe in. the idea of a policy entrepreneur who. can recognize. here's a problem, here's a whole bunch. of solutions and here's a window of. opportunity and let's just like line it. all up and make it happen. >> Also, the laws exist in order to protect. people. And when we're talking about. bureaucracy, like we're really talking. about laws. Now, sometimes those laws.

need to be changed, simplified, stripped. down to the most important things. I. learned this very early on in my time in. office where sometimes I was trying to. get something done as a policy. entrepreneur and somebody tapped the. brakes on me and used a bureaucracy to. do it. You know, sometimes they were. right. Sometimes. they made me better, they made me. sharpen what I was trying to do. by fighting me. >> The other issue you mentioned a second. ago that I think is going to be really. pertinent over the next 24 months that. is increasing in interest amongst. Americans. I'd say especially young. Americans that are thinking about.

getting a job and going into the. workforce is the subject of artificial. intelligence. >> Uh-huh. >> Talked to a lot of AI experts on my show. over the last couple of years and I've. also reflected a lot on the different. types of comments that the CEOs of the. big AI companies have made through time. and how those quotes have changed. >> Mhm. >> Um if you go back couple of years, it. was doom and gloom. >> Uh-huh. >> Um but now that they are running. trillion-dollar companies, the quotes. seem to be a bit more optimistic all of. a sudden. >> Huh. >> One thing that I that I think they do. agree on is that there's going to be.

significant job disruption, especially. if you look at some of Anthropic's. reports, >> Yeah. >> which are the maker of Claude. They. already show that entry-level positions. are at risk first, especially. entry-level knowledge jobs. >> Huh. >> And people are scared. First time I I. saw that um Eric Schmidt's speech where. the the crowd the college. audience are booing every time he says. the word AI. >> Yeah. >> This is presumably going to accelerate. this sentiment towards AI. And in part because people are going to. find it harder to get jobs and. they're going to experience more.

more of AI sort of permeating through. their life. >> Right. >> How do you feel about all of this? What. is the What is the balance of of AI, good, bad, ugly, risks? >> I think it can be all of those things. and we've got some decisions to make. about where AI goes. And the simplest way I put it is this. Either we're looking at a future where. because of AI we have. a shorter work week. and more money in our pocket. Or we're looking at a future where there.

is even more extreme concentration of. wealth and power in this country than. we've already got. And which way it goes, which of those. things happen, it's actually not. something that's in the technology. It's. not a tech question. It's a policy choice. It's about whether we make sure these. technologies. unfold. in a way that is empowering for families. and workers and college graduates and. manage all of the harms that could come. from it. Every technology brings good and bad.

things. And we've certainly seen that. with digital technology. We've seen it. with social media. We've seen it with. the internet itself. Good and bad things. always. AI has incredible capabilities. I think a lot about uh something that's. not usually in the top 10 thing people. talk about, but it's self-driving. vehicles. Easy to be freaked out by. them. They actually have enormous potential to. save lives. That's just one example of. how we could be better off if we. responsibly develop these technologies. But if we don't,

I'll tell you what I think could happen. And I come at this based on where I grew. up, right? I'm from the industrial. Midwest, northern Indiana, a place. dominated by the auto industry. And starting in the '60s, but definitely. in the '90s when I was growing up in the. early 2000s, there was a huge amount of. job loss because the economy was. changing. What happened was there were a whole lot. of people who. didn't just lose their jobs. Often they. would lose their jobs, maybe find. another job, maybe be trained to find a. new career even,

but never recovered their sense of. identity. You're an auto worker, you're in a tool. and die shop, and it's your your whole. sense of belonging revolves around your. job. Not just your paycheck. It's. how your spouses know each other from. the union picnic. It's it's it's how. you're sponsoring Little League. It's. what you explain, you know, at least in. the US. We don't even say like what's your job. We say what do you do, right? What we. mean is what do you do professionally, but we say what do you do basically as a. way of saying who are you. And that's true for blue-collar workers.

That's even more true. for white-collar workers. And so I think that there is a. generation of workers who are about to. have. their. identity, not just their job, their. identity, disrupted. Whether we can come up with. new sources or better sources of. belonging. than what your job is. could decide everything about what it. feels like and is like to live in this. country within the next few years. >> And I just think about what you said. there about growing up in the Midwest.

Um. people working in the auto industry. making cars. And you also used the. example of full self-driving vehicles. being a net positive. But when I put. those two things together, I thought, "Okay, so the people in the factories. are at risk of being replaced by. robotics now." Huge acceleration in. robotics, both humanoid but just. generally intelligent machines, which is. right here. It's not theoretical. It's. not sci-fi anymore. They're building. them right now. And Sam Altman said, "On. the current trajectory, we believe we. may only be a couple of years away from. early versions of true.

superintelligence. If we are right, by. the end of 2028 more of the world's. intellectual capacity could reside in. inside of a data center than outside of. them." Dario, who's also the founder of. Anthropic, said, "If the exponential continues, then it. cannot possibly be more than a few years. before AI is better than humans at. essentially everything." And the quotes. go on and on and on. Dennis from Google. said, "We're only a few years, maybe. within a decade, away from systems that. have general human-level intelligence. across the board." And Elon Musk in an. interview this week talked about how.

with robots being physical and. disruption and AI being intellectual. disruption, you now have the perfect. combination where work will become a. choice. What does that mean for those. people in the Midwest? Because Dara, the. CEO of Uber, sat there in front of me. and said the 9 million drivers he had. would be replaced. And but also now you if I think about. the production line, the people making. the cars as well, theoretically could be. at risk. There's always going to be. something. worth doing with our time. We need to arrange an economy that. rewards things that are worth doing with.

our time, especially things that only. people can do. Some of that is creative work. Some of that is very human work like. caregiving. I'm thinking about this more. and more because I belong to this. sandwich generation that's taking care. of kids and aging parents at the same. time. But whether those kinds of things are. rewarded or not is what I worry about. I. mean, imagine a a world where. just for the sake of imagination. you've got a machine that can make more.

and more things. It's like the. replicator from Star Trek. You know, I. love Star Trek as a kid. Captain Picard. goes up to it and he just says like, "Give me a cup of tea, Earl Grey, hot.". And like, it happens. Right? Imagine a. some combination of artificial. intelligence and robotics. that. leads to factories where you can kind of. do that. Over time you need fewer and fewer. people in them. And that means that. less and less in the economy depends on. the wages that those workers can command.

because you need fewer of them. That means more and more is going to. depend on well, who actually owns. the machine. By which I mean both the intellectual. property, the AI. and the the physical plant, right? And that's where we've got to make sure. that the American people own enough of. this or at least to own enough of the. value that's being created. that people's needs can be met. >> How? >> Well, there's a lot of ways you can do. it. Uh I think some version of a. dividend makes sense. What I mean by.

that is there's some public share. We can argue about whether it should. come with like a vote like being on a. board or whether it's kind of closer to. a tax. By the way, I think this is also. fair game. I mean, these things trained. on data that all of us put in the world. for free. These things are based on the internet, which was created by the American. taxpayer basically free of charge in the. 1960s when DARPA uh the Defense Advanced. Research Projects Agency created what. became the internet. And and now it's time to return more of.

that to the American people. If you do. that, we really could have a shorter. work week and more money in our pocket. But there's a big butt here, which is. it hasn't always worked out that way. with labor-saving technology. 100 years. ago, the economist John Maynard Keynes. wrote. an essay called Economic Possibilities. for Our Grandchildren. He wrote this in. 1930, and it was all about what the. world would be like 100 years from then, so 2030. And he predicts that the productivity of. our economy.

because of automation, technology, all. these things. will go up something like five to. eightfold. And because of that. really, we're not going to have to work. more than 10 or 15 hours a week. And so far, we are on track to almost. perfectly match his prediction about. productivity. But we're nowhere close to that. If. anything, we're working more. right now. So, how does that happen? Well, it turns out that it has to do. with policy choices about what is or. isn't a good use of time.

And it has to do with social choices, too. Right? I mean, one question I think. about a lot is. if we go into the best possible. scenario, we get the policy choices. right, we make sure the companies act. right. This is saying a lot, but imagine. that we do. And we do in fact have, you know, most. of us have a shorter workweek. and more money in our pocket. How do we know we're going to use our. time well? Because in many ways, I think many of us. are aching to have more time to use. well. I know, just doing my thing, I.

wish I had more time with my kids. This. is always the lament of a politician, but like anybody in an intense job. wishes they had more time with people. they love. Well, you know, also a lot of our time. right now is being absorbed by. right? Scrolling. Things where you spend an hour doing it, and an hour later. nothing sticks. It's exactly as if you. hadn't. You regret Put your hour Yeah, or you feel worse, but the hour is gone. So, we need to figure out how to also be.

be stewards of our own time. These, by. the way, are not. just not This This sounds like a very. 21st century problem, and in one way it. is. But, you know, the Stoic philosopher. Seneca, the Roman philosophers, writing. about this kind of stuff more than 2,000. years ago, talking about how we are so. careful about who can get our money. And and and are very up in arms if. anybody looks like they're cheating us. or taking our money. But, then our time, which is the one. thing where we have every reason to be. uh even more stingy about it than money,

cuz you can get more money, but you. can't get more time in your life, we let it get wasted in all kinds of. ways. >> Bernie has this proposal where he. believes we should terminate I was. reading about, you know, you discovering. Bernie I believe in college, right? Wasn't it you. >> High school, actually. >> In high school. He has a proposal where. we should take 50% of the stock of these. AI companies, gives the general public. 50% ownership and board voting seats to. block job-killing decisions, and. redistribute AI profits directly to. citizens for health care, education, and. housing.

Viable proposal? >> Part of that overlaps with what I'm. talking about. I do think a public share. of the profits, which could mean a. public share of the ownership, can make. sense. And again, for reasons that I. shared earlier, I I think that would be. fair. I do think we need to weigh. whether the right way to make sure the. public has a say in how these companies. behave is to be on the board. >> Mhm. >> versus. just have some rules to make sure that. the rules are such that the companies. can do what they do best, create value, innovate, but they can't do it in a way that hurts. people, which is generally how.

regulation's supposed to work. I mean, I. say this having been in the cabinet of. the Department of Transportation, where. our job was to. regulate companies. So, what that meant. was we have something like the FAA, right? The Federal Aviation. Administration. You know, it doesn't create aircraft, it. doesn't invent. uh aviation technology. Uh what it does. is it sets a very elaborate set of rules. to make sure that aviation is safe. And the consequence of that is actually. an incredible unsung civilizational. achievement. And just in the time I was.

Secretary of Transportation, we had 4. billion people get on an airplane. 4. billion passenger airplane minutes on. commercial airplanes. The number of. fatalities was zero. Zero out of 4 billion. >> Crazy. >> There are very few things you can do in. life. I mean, all the way down to like. crossing the street or eating a. cheeseburger. >> Right. >> They would have a zero to 4 billion. fatality rate. So, that's an amazing. achievement that happened because. there was is the right framework with.

technology and rules. Where you have a. lot of innovation. I mean, the aviation. aerospace sector is known to be very. innovative. But, also you make sure it's. safe. And it's worth considering that when. we're saying, "Okay, how do we make sure. that these AI technologies develop so. that we can have safer vehicles or you. can get a better. uh uh screening of a. uh of a radiology scan for for cancer or. all any of these other things all the. way down to like, you know, these. amazing ideas about curing cancer, figuring out nuclear fusion. Which are urgently important things to.

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to join, and use code doac25. for a $25 credit. There's There's also just a broader. debate, which I guess in some ways. connected to this at the moment in. America, but actually also across the. Western world. It's happening in the UK. as well. Around capitalism, socialism, and um I think a lot of it's driven by. the inequality Yeah. that people are. experiencing. And if my if my memory is. true, the US has more extreme inequality. It.

has more growth GDP growth, but it has. more extreme inequality than a country. like the United Kingdom. >> Yeah. >> Um so, socialism is often considered to. be the solution to this inequality. Mamdani's now the mayor of um New York, and we're seeing, you know, in the UK, socialist parties are are becoming more. and more popular. The idea of taxing the. rich is becoming very popular. Big. debate that actually this week in the UK. is, should we implement a wealth tax on. people who have wealth above 10 million?

>> Mhm. >> Keen to get your perspective on this. Yeah. Is socialism, is wealth tax is the. right solution to some of these. problems, some of the inequality? >> Look, I find socialism is a word that. means less and less the more people use. it. It gets thrown around as a label and. it means different things to different. people. And and I'll I'll I'll take your. example. uh, to illustrate this. You know, higher taxes for very wealthy. people is an idea that. is broadly popular. I think it's the right thing to do. And importantly,

we have a tradition of doing that. already in the United States. Some of the highest tax There was a. point where the income tax. for the wealthiest tax bracket in the. country. was around 90% in the United States. I'm. not saying we need to go back to that. I'm just saying. then that was happening in the '40s and. '50s and '60s. when the Cold War was going on and the. US represented capitalism against. communism or some would put socialism. would lump it in with that, right? So, there is a tradition of the US being a.

fully capitalist country. and also doing a better job of heading. off this inequality. And the point of. dealing with the inequality wasn't to. punish the wealthy, it was to make sure. that that level of wealth didn't go off. the rails and that it didn't turn into a. level of political power. that could bring down the whole system. Which, by the way, is the problem I. think we're facing now. First of all, our tax system. taxes wealth less than it taxes work. That's a problem. That's an even bigger.

problem now that AI is coming for jobs. because there's basically a thumb on the. scale, a subsidy in effect, from the US. government saying. giving you a little more reason to. automate a job than you otherwise would. because things like capital gains taxes. are coming in lower than things like. income taxes. Now, wealth tax, which is. a property tax by another name, can be part of the menu of taxes you. have to get enough revenue. and to make sure that outcomes are fair. You can argue about where to draw the.

line. I think some people have proposals. that set it too high. You can also argue. about whether you have to have a wealth. tax or whether you can get the job done. with capital gains and income and other. taxes. >> But what we know right now. is that our system is so out of whack. that if you are a multi-billionaire. you probably pay a lower percentage of. what you make. in taxes than if you're a school teacher. or a firefighter. We even in percentage. terms, generally tax billionaires less.

than we tax millionaires. because again of this system that kind. of favors wealth. So, the more you have. uh the more you make and the less it's. taxed. Surely we can do better than that. >> So, you supportive of wealth taxes? And. I'm defining that as. um not taxing income, but looking at the. net worth of somebody and taking a. percentage of their net worth. >> Yeah, again, to me that's just a. variation on the idea of a property tax. I think it's legitimate. There are some. problems with doing it uh. in in practical terms.

>> Yeah, this is why it's hard, right? Like. how do you. >> tax like somebody's art collection? Are. there things that can make it tricky? >> One of the things that I learned when um. I. I had this company it was a public. company, so I had public stock. And. someone came along and said, "Steven, you know with your your public stock. that you have?" So, started this company. when I was 21, does well, by 27 the. stock that I have is public stock, which. means it's on a stock market. Someone. came to me and at 27 and said, "Steven, do you know you can just take a loan. against your public stock?" And I went, "What?" They went, "You can just get a.

tax-free loan. So, if your stock is. worth $50 million right now, they will give you a 50% loan without. paying tax on that on that stock. So, they will crazy low interest rate. Like not almost nothing. They will just. transfer you today 25 million dollars in. cash and you will have to pay no tax. And guess what? If the stock comes down, they'll just sell it. So, you'll never. really have like a a real sort of tax. liability there. I couldn't believe this was possible. I. was like, is this what all the rich. people do? And they told me, yes, this.

is what how it works. This is what. Elon's doing. Elon is taking a tax-free. pretty much tax-free loan against his. Tesla stock and they're transferring him. a billion dollars in cash. And he can. live off that, start new companies with. that, and never have to have a tax. transaction. So, I thought, why don't. politicians tax that? >> There's always going to be a cat and. mouse, right? Whenever we figure out a. way to make sure you can't hide all of. your wealth from or all of your income. from being fairly taxed, very wealthy. people will figure out some other place. to hide it. >> Yeah. >> And then we'll have to develop a new.

policy to deal with that. Well, I guess. my point is that's okay. Too often we. have just. to do anything because it might be hard. or because it might not last. >> Yeah. >> But if if the idea that somebody will. figure out a way around this law meant. that you shouldn't have the law, that. would be an argument against having any. law. >> Mhm. >> So, it's messy. It's hard. But I am sure. that if we had a more reasonable. rate of taxation on capital gains. and on corporate income, and if we made. it harder to pass along wealth without.

especially inherited wealth without. paying any taxes on it, or some of these. other maneuvers like this borrowing. thing you're talking about, >> Mhm. >> we would have a fairer country because. we'd still have capitalism. There'd. still be lots of motivation and lots of. reason to innovate and build a business. and create jobs and do all the things. that very wealthy people. have done. And also, we would be out of this doom. loop we're in where they're saying, well, we can't possibly have as good. health care as other countries. We. couldn't possibly do something like, I. don't know, fast trains here in the.

United States. We couldn't possibly have. rural hospitals be properly funded or uh. public education. Of course we can. We're the wealthiest economy in the. world. It just doesn't add up. that we can't have nice things. But, if we aren't. collecting a fair level of taxes, then. then of course we're going to come up. short when we're trying to fund those. things. And the biggest thing long. uh that numerically that we're facing. right now is this massive debt. Now, it's not fashionable on the left to. talk about deficits and the debt. Partly.

because you know, I think Democrats are. pretty sick of that being invoked as a. reason not to do things like roads and. bridges and schools and hospitals that. we believe in. But, it's now escalated to a level that. no one can ignore. It turns out, you know, if some analysis. has suggested or shown that if. you start the clock at the beginning of. this century with the big Bush tax cuts. in I think 2001, and then you go through the Trump tax. cuts for the wealthiest, you add all. that up, if it weren't for all those tax.

cuts, the debt would actually be going down. right now. So, they can fully account. for what's happened to the increase in. the debt. And it we just don't have don't have to. accept that. >> Got this. graph here of US national debt growth. over that one on the screen between 1970. and 2026. It looks like a rocket is taking off. >> Yep. >> And I sat here with Ray Dalio just a. couple of days ago. He talks about the. sort of big economic boom and bust. cycles. He talks about how every 80. years.

>> or so you you kind of see a great power. >> falter and struggle. And we are 80 years. into the American power. And he says. that the writing is on the wall as it. relates to what happens next when you. let that go like this and you start. getting sort of internal conflict and. you start trying to please the world and. >> Yeah. And what's going on with the debt. is both evidence of it and part of the. problem. I think it's a symptom, but in. some ways it's a cause. It could be a. cause of a currency crisis or force us. to. redo our whole tax code within the next. few years. One thing I learned about.

recently. uh. is a principle called Stein's law. It's. named after uh Reagan era economist, actually the father of Ben Stein from if. you remember Ferris Bueller. The. principle is very simple. If something cannot go on forever, it will stop. It's one of these blindingly obvious. things. that we don't think about enough in a. moment like this where everybody agrees. the debt can't keep going up like this. This is almost definitely definitionally. impossible. Pretty much everyone agrees our politics. can't go on like this.

And. if something. can't go on forever, it won't. So then the question is, okay, then. what's going to happen? I believe one of. two things can happen. Reform. or catastrophe. And the whole reason I'm involved in. public life is to try to make for make. sure that it's reform. and not catastrophe. Can I. >> ask a question on this? So, on this. Stein's law thing, and and why, irrespective of what you've just said, which makes perfect sense to me, this. line keeps going up of national debt? Is.

it in part kind of like musical chairs. with politicians where you come in for 4. years. and the music is playing, and you're. kind of hoping that the music doesn't. stop during your term because you want. to spend money because that's. politically. positive. If you're helping people's. health care, if you're building. infrastructure, positive. People are. going to like you more, they're going to. vote you in. But. the nature of politics means that you. really do play for 4 years. And then. maybe you play for 8. >> Right. >> But this might be a 2-decade. catastrophe. The music might stop in 2.

decades. So, actually, when you think. about people's incentive structures, you're incentivized to actually not. think about the future. You're. incentivized to like be remembered and. pass the baton to the next Democrat in 4. years' time in a way that's positive. So, that's why we're seeing this cuz. clearly if someone was in power for 100. years, or maybe if the time horizon was. even longer, maybe they would have thought about this. debt rapidly increasing. >> Yeah, but I think it also comes down to. why why do you think you're here if. you're in office? Like are you in office. just in order to hold it? >> It seems like that sometimes.

>> It's not worth it. Being in a position. to make a difference and hold public. office like it it's an exciting thing. It's a compelling thing. It's a. meaningful thing. And it comes with with. a lot of things that are, you know, good. for your ego. I get all of that. But. also, it's just not worth it unless you. understand that you hold an office. in order to. do things with policy and power to make. people better off, not the other way. around. >> I guess the American people and. everybody listening now will be. thinking, "Fool me once.".

Secretary Pete Buttigieg because I've. sat there and I've watched the elections. and I all of them talk about bringing. down the public debt and and then you I. look at this graph and I go, "Oh, it. goes up again." And Trump says the same. about spending and nope, it's gone up. again. It almost feels like in a way that. I feel like you're trying to be nice. No, no, no. I just I don't know. I can. understand where people are sort of. disenfranchised with politics. >> Yeah, me too. >> And I wonder if this is why they're. picking a radical, you know, this is why. and so. >> [clears throat]. >> this is why Oh god.

>> [laughter]. >> Because this is disruption. This is kind. of burn it down to some degree and. >> Right. So, this is why everywhere I go. I'm trying to talk to my own party. about making sure that we understand. that. dealing with this. is not. the be-all and end-all. That our mission. can't be to just take power and then go. back to what we had before. That what we had before is actually what. led to this. In other words, guys like Trump don't. get very far unless you're already in an. environment where the political and.

social and economic systems are letting. people down. Which is I think how we wound up here. And I worry there's a big temptation, there will be a big temptation in my. party. to say, "Okay, our job is to take power, turn back the clock, reverse the damage, fix what was broken, and get us back to. where we were, get us back on track. I. hear the word back a lot. I hear the. prefix re a lot. Reverse, rebuild. And. I'm very worried about that distracting. from what our actual mission has to be. Which is to change and fix things so.

that we'll be set up well for the next. 80 years. So that that's a harder project, for. sure. But also sometimes. the incentives change because the public. is ready for something different. And I think the public tried one flavor. of something different with Trumpism and. is ready to spit it out. And so the question then is, okay, what. are we offering in its place? And to me, that's where some very day-to-day things.

like. setting up a better health care system. >> Mhm. >> or. or reducing what we're paying in tariffs. or better infrastructure or any any of. the other policy, you know, paid family. leave, all these policy things that I'd. like to see happen. Really depend on. fixing a political system that's just. not as sexy. But. it can be. powerfully motivating because our. country was started by people. who fought a revolution.

to change the political system. I just. can't imagine that it was just like. Jefferson and Hamilton and these guys. sitting in their studies. reading, you know, John Locke and. Rousseau and thinking, oh, it would be. neat to try that somewhere. I I I think. that they believed that like their lives. and everybody's lives would be better, different if we actually had a different. system. And then they risked violent. death. in order to challenge the existing. political system that was the monarchy. and replace it with the republic, the. democratic country that they set up that.

is the United States of America, right? So it's not like this can't stir. passion. Should we not be a country. where everybody's vote counts the same? That would mean a popular vote for the. presidents. We ought to do that. I just. think everybody's vote ought to count. the same. And the person who gets the most votes. ought to win. This is a hard thing for us to buy into. in literally any other election we run. in our political system. We need to do things like make it just. ban gerrymandering where districts are. being drawn.

So consider this. We have 435 seats in. the house. Nine out of 10. are so red or so blue. that you basically know who's going to. win. before the first vote is cast. Nine out. of 10. In a 50/50 country. That makes no sense. And of course what. it leads to is the people in those seats. are either. very comfortable and not really worried. about being responsive to the people. Or. if they are in danger, they're in danger from their own side.

What's amazing to me when I look at how. Americans feel about certain big issues, like making sure there's health care for. everybody, or raising the minimum wage, or having higher rates of taxes on the. wealthy and on corporations, or. background checks on guns, or marriage equality for same-sex. couples, all kinds of things. There's. like 60 or 70% agreement. on most of the issues that most people. tell pollsters they care about the most. So how can we be a country that's got 60.

or 70% agreement on issue after issue. after issue? And we failed to get those policies done. and we keep proceeding like it's normal. to be a 50/50 country where everybody's. at each other's throats. That to me is. evidence of a broken. system. If we don't fix the system, I. don't think we're going to get going to. get very far. >> It's interesting cuz when I think about. the last sort of 20 years of politics we. had, you know, the the Bush era, then we. had. Democrats and and so on that were very. polished. Bush was kind of very polished. as well. Then we had Biden who was um.

very polished, kind of like career. politician, says the right things, reads. off the teleprompter. And then it seems. globally like people wanted some. We had Brexit going on over there. We've. got Nigel Farage increasing in. popularity over the last 10 years or so. as it relates to his political. probabilities. And then over in the. United States, we have Trump arrive. Again, not a career politician, not. clean, not teleprompter kind of guy. If. Democrats are to win, as you say, it's. certainly not going to go back to the. polished Joe Biden teleprompter. I almost think that there's going to. need to be some disruptive character on.

the left side of politics to get to win. over those independents some of those. Republicans. Is that Do you agree with that broadly? >> I think that's right. I mean, I think it. depends what we mean by polished, right? That can mean a lot of different things, I think. Uh but I think you're talking about a. sort of authenticity that people expect. And the paradox of Trump is he's. authentic even when he's lying. Cuz he. he it just seems like he's, you know, whatever he is, he's not reading talking. points. At least, that's how it seems. I. think also part of this is just the it's.

actually technology thing. So, the. technology that dominated politics for. as long as I've been alive was. television. And. I think it produced a generation of. people. You know, George W. Bush, Bill. Clinton, and Donald Trump were all born within a. few weeks of each other. >> Really? >> Yeah, they were they were all products. of the summer of I think it's 1946. Coming out of that generation, Joe Biden. near to them in age, right?

Into whatever is next, I think you're. going to have leaders. I have this can. be. potentially a very good thing. Who are just a little bit. better able to just kind of show their. humanity. Being a long podcast like this. one, right? Like I remember when long. form meant like maybe a 30-minute NPR. interview. Now, you're sitting for. sometimes two or three hours. I don't. think it's possible as a matter of. physical stamina to stay on talking. points for two two or three hours even. if you wanted to. Like it just you know, And so, you know, somebody once said.

that the running for office is like an. MRI of the soul. Anyway. But that's even more true now than it. used to be because you just. there's so many different kind of ways. of having to kind of show who you are. We used to imagine that the people in. charge are just like next level. like on a different plane of existence. And I think it's become harder and. harder to believe that because it just. we know too much, right? And so I think we're trading that for. just wanting people that we.

have a reason to trust. >> We see the same across. across business. We talked talked a lot. about it over the last 10 years how. we've shifted from this black box world. where the PR department would pay would. paint the image of the company on the. outside of this black box. And then we. moved because of phones and everyone has. a mobile phone now and a camera in their. pocket and social media platforms so. they can give their own opinion. This. glass box world where actually the job. is to let everybody see inside. Because if you don't, someone else will. paint the black the box for you. So. actually being defense became the big.

CEOs in the world now coming on podcast. and having a personal brand and having a. social media account. I would say I. think the same to politicians that. actually the winning strategy now is. being a glass box which is yeah. build your own reference points through. transparency. >> Yeah. >> Which is why the podcast like this are I. think probably going to dominate the. next election cycle to some degree. >> Yeah, I think it's true not just for. politics for even running and being a. candidate. I think it's increasingly. true for government, too. I mean I I. started to feel this at the Department. of Transportation. You're running this. huge enterprise, 55,000 people, 145.

billion dollars. It's bigger than most. GDPs of most countries. And. what I found was that there were so many. situations where people. who just are generally mistrustful of. government or media would assume the. worst. And the only antidote to that was to be. way more transparent than a federal. agency or department was used to being. But what I found was kind of the. machinery of the department was not set. up for that. It was designed to be. you know, accountable but accountable in. the sense that if there's something. going on and a member of Congress is.

worried about it, they can write a. letter and 6 months later they'll get a. record. And I'm trying to figure out how. do I cuz you know, I carry a phone in my. pocket, too. Like how do I take it out. sometimes and like shoot a video and. like tell people what's going on? Sometimes they're going to think that. we're that we don't care about them, that we're putting a highway through. their neighborhood and we don't care how. it's going to hurt them or that we're. not responding to a disaster in a. Republican area because it's a. Republican area or any other number of. things with people. might believe if we don't show them what. we're actually doing and why. >> Go to Cap here.

>> Okay. Pete Buttigieg 2020A. When you when you think about running. for president or being president of the. United States, the most powerful nation. on Earth, do you not have imposter syndrome? And. what is it about the job that you think. cuz you know, it's pretty crazy for anyone to think. they could run the most powerful nation. on Earth and not think, "God, there's a. couple of things that I'm not going to. be great at.". >> Yeah, I mean, the whole idea of the. system was that. no one person should have too much. power, right? That's why we got rid of. monarchy. But we've wound up with this presidency.

that uniquely in our country, not just. the country, the world, right? Has this. incredible amount of power that the. lives of billions of people go. differently and could be much better or. could be much worse. based on decisions that get made in that. office. And the idea that we would have. just one human being doing that. is on some level terrifying. But, you. know, part of what we did as a country. is we set up a whole bunch of things. around that human being. And. that's everything from like advisors to.

laws to Congress, you know, and the. courts like to make sure that there's. some balance to try to make sure that. that whoever's in that seat. can make the best decisions they. possibly could. and and has to act within certain. boundaries. But yeah, I mean, look all. the way down to when I was elected mayor. and I was in my 20s. Like obviously I. believed I could do the job or I. wouldn't have run for it. But you know, even just walking into the office of the. mayor of the fourth largest city in. Indiana on the 14th floor of the county. city building, and the snow's coming.

down the first day I It was New Year's. Day, first day I was officially in. office, and I'm thinking. I'm now responsible for making sure the. snow gets plowed. And And And if we. don't do it right, not only will I get. in trouble politically, but somebody. could be harmed, right? But I think any. office, any job like you have to. let that weight. sit on your shoulders and then have it. push you to be better at the job. >> That's the. >> Oh, there we go. >> There we go. >> Yeah. Yeah, that was election day.

That was a great feeling. But I I. remember also immediately feeling this. thrill of of of having won. And if. you're a competitive person, it's also. the excitement of having. beaten your competitors, but having to. balance that with, "Okay, I said. that if you elected me, I'd be able to. get these things done, and now. I actually got to produce.". >> Are you scared of the consequences of. being president one day? >> Any president should be. Anybody who's. even being seriously talked about or. considered for it should be. It puts you. in a position where you have a.

responsibility to say things that make. sense, and think about what you have to. say, and know that your words, even if. you have no official power, but that. still things that you do or say could. help or hurt people. Just by Just by. talking. Just by going on a podcast that. millions of people listen to. >> And there's really four front-runners um. according to the data that I saw, which. is yourself, Gavin Newsom, AOC, and Kamala Harris. I've now interviewed three of them. Which one haven't I got to yet? AOC. I think this thing is in the works. Very different. candidates, I'd say.

>> Yeah. >> As individuals. >> Yeah. >> If not you, then which one of them. >> Mhm. >> is just a better idea to answer that. question. >> I'm sorry. Like I want to be. transparent, but like. >> You must have an answer, though. >> I don't know. >> Let the truth set you free, secretary. Kamala, I I met her, she was lovely. Kevin's nice. >> Which one are you closest friends with? >> I mean the one I've spent most time with. is. is her because, you know, she was vice. president and I was working. transportation and there were times we. traveled together. She was very involved.

in trying to get the infrastructure bill. done, which was kind of the biggest. thing that I worked on, the the. legislation did to get roads and bridges. and airports. >> Is she misunderstood? >> I think anybody in at that level is. misunderstood. There's just uh. I don't know that I can. I don't know if I'm qualified to. evaluate kind of more than more or less. than. other people in that job. I think. anybody the vice presidency or any job. with that visibility. puts you in a position where. it's hard for people to see your.

humanity. when you're. bearing the responsibility that you. have. And even at other levels of government, I think this is this is true. I think high office does that, but I. think office that high, especially, does. it. >> Do you think she could be a good. president? >> Sure. I mean I campaigned for her. very energetically when she was running. for president. I went all over the. country uh trying to convince America to. elect her. And um I did that because I.

thought she'd be a very good president. >> What about Gavin Newsom? >> Yeah, he's he's been uh he's not someone. I know as well as as her, but he's. somebody I've worked with a lot. Obviously, California was the place we. were doing a lot of our best. infrastructure work and he's somebody. who. I think he understands how to break. through in this kind of attention world. that we're in. um. where. you know, the old formats and the old. norms. um just don't cut it anymore in terms of. getting your message across.

>> And AOC? >> I think she has spoken to. so many people who understand that the. system is letting them down. I might not. agree with her on every policy. For. example, on the infrastructure law that. I worked with the Vice President on and. worked with with Gavin on, she didn't see that the way we did. You. know, I respect that she has activated a. lot of young people, not just young. people. She's activated a lot of people. who were looking around saying, "The way. things work. doesn't serve me." And there's the. generational thing. And when I ran for.

president, I was running on. largely on a message of generational. change. I didn't win, obviously. >> Joe Biden won, you got behind him. Mhm. Near the end of his uh his time as. president, he I mean, we all saw it. We. saw him go out and do those debates. against Trump. And I think it was obvious to anyone. who's being intellectually honest with. themselves and objective that Joe Biden. wasn't the same Joe Biden that we've. seen over the last 20, 30 years. And. that something had changed quite. considerably with his cognitive.

performance. Um. Did you Were you aware of that? Cuz you. were in his you were part of his team at. that time. Were you aware that something. was different? I saw the same thing that. America saw, right? Um it's not like I. was in a room with him every day, but. you know, whether it was in front of. cameras or whether it was I was invited. to be in a meeting at the White House. Uh I saw what America saw, which is that. he was getting older. >> I mean, cognitive performance is pretty. important for the. the most powerful job on earth, yeah?

Were you concerned? >> I was definitely concerned when I saw. the debate. I mean, >> You weren't concerned at any point. before the debate? >> Up until that moment, I I saw that he. was visibly growing older, but there's. never some moment where I saw him like. make a different decision or at least in. terms of anything that I was involved. with in transportation that I thought it. was going different or worse or I. couldn't get what I needed from him or. from the White House because of his age. But, of course, the job is not just. policy guidance. But, the job is also to.

convey and communicate to the American. people like what your administration is. doing and why. That's the job of a. president. It's in in some ways 100% the. job of a candidate. And there was no watching the debate and. not realizing how much of a burden that. was. >> You just said then that um you were even. conscious of like even in this medium. every sentence counts. >> Mhm. Yeah. >> You say one sentence, that's the wrong. sentence. Theoretically, it could have. consequences. And that and you just said. it, this is a someone that doesn't. currently have a job. But President of.

the United States, Joe Biden, muddling. up his sentences in front of the nation. like he did in that debate. >> Yeah. >> is um. it's probably not good enough. >> Yeah. >> to be in that in that position. >> Yeah. And that was the beginning, of. course, of the process that led him to. reach the same conclusion. >> Did you have a private conversation with. him? >> No, I wasn't I was in the cabinet, but. that doesn't mean I was invited to rooms. when they were talking about things like. whether he's going to run for president. again. >> Did the Democrats make the right. decision there, 100 100 days until the.

election to. swap in Kamala Harris at that point? Look, in hindsight, if you were honest. with yourself. >> Yeah. I I I thought about that a lot, because I think in the moment it felt. like, oh, we have very little time. We've all got to pull together. We've. got to put ego aside. We've got to put uh kind of internal. politics aside, and we got to quickly. speak with one voice. Partly because. I knew uh. and we all knew. what could happen to this country if. Donald Trump was elected again. And I.

believe all of those harms, and then. some, have come to pass. But the other side of the coin is, if. there had been some way to have a. competition. even with that very short timeline I. think that. even if the candidate had still been. Kamala Harris, I think she likely would. have been a better candidate. I think in. 2020, Joe Biden was a better candidate. because he had to compete with Kamala. Harris and me and like 18 other. Democrats before winning. that process. And.

I think that. in general, we know the competition. sharpens you. We know the competition. gets more information out. Um and I'm not saying I have it all. solved in my head how that could have. been done on the timeline that we faced. Or what it would have been like. But I think with the hindsight that we. have now, I think it's pretty clear that. we would have been better off if we had. that. >> You know, we talked about that maybe. people are looking for something a. little bit more radical this time. around. >> Mhm. >> What are your most radical ideas as it. relates to policies you would.

be in favor of? I know you would um. you're keen to remove the Electoral. College. >> Yeah. >> And do it based on numbers, that the. quantity of votes for either. presidential candidate. >> And I still can't believe that anybody. considers this radical. Like to me it's. there's nothing radical about thinking. the person who gets the most votes ought. to be the winner. But I think people haven't thought. through. how much benefit would come from that. If we did that, there are so many votes in red and blue. states that you couldn't ignore anymore.

Like if you were running for president. as a Democrat, you'd have to go to. Texas. >> Yeah. >> And even if. Texas is still going to vote mostly for. Republicans, you'd have to turn out. every Democratic vote you could in. Texas. And I just think we'd be so much better. off if a Republican and Democratic. candidate were competing over Texas. And. by the way, New York, even if New York. is definitely going to vote more for. Democrats, a Republican candidate would. have to come to New York. And states from Alaska to Rhode Island, so it's small states, too, that get.

ignored now, would finally be part of this. competition. So yeah, Electoral College. for sure. Supreme Court needs to change. >> Court? What would you do to the Supreme. Court? >> I would have term limits, more justices, and. some process that makes it less partisan. who the justices are. Some different. ways to do that. The one I think is most. interesting is called the balanced bench. proposal. You have a mix. But anyway, the point is that it needs to change. Yeah. Uh House of Representatives. like I said earlier should be.

proportional. >> What does that mean? >> It means that I was saying earlier how. it worked for like. school board or city council where. sometimes you get more than one vote and. more than one person wins. We could do. that for Congress. The people get the. top three votes, not just one. Get to go. to Congress. So you'd have bigger. districts, fewer districts, harder to. gerrymander. By the way, an easier change that I. think we should do right away is ban. gerrymandering. >> That's a good four things there. >> Uh let me give you one more. Constitutional Amendment to deal with.

money in politics. If the Supreme Court said in the. Citizens United decision that a. corporation is the same thing as a. person for these purposes and that. spending money to manipulate an election. is the same constitutionally protected. behavior as writing an op-ed or carrying. a sign at a protest, we need to clarify. that corporate spending is not speech. and corporations are not citizens, people in the same way that that a human. being is. And we can do that with a. constitutional amendment.

>> And so what would that mean? It would. mean that you couldn't just if a company. couldn't just pump money into a. political campaign. >> Right. Congress could have Then you. could actually have laws, which we used. to have, like the McCain-Feingold law, which was struck down in Citizens. United, but we could get to where. Congress can once more have laws saying. that you can't put unlimited. unaccountable corporate dark money into. a super PAC to manipulate how an. election's going to go. And it's one. more of these things that like. two-thirds of the people think we ought. to do. >> Why doesn't it happen then? >> Because so many people who are already.

in office like the system just the way. it is. And because of the Supreme Court. I actually think you could get it. through Congress, but the Supreme Court. won't let you because their. interpretation of the Constitution is. that you can't have these kinds of. rules. So what do you do? If necessary, amend the Constitution. People forget. that the best thing about the. Constitution. is its capability to be amended. When we. talk about the most cherished part of. the Constitution, many people will say the First. Amendment, right? That's the one that.

gives us free speech. And we miss that. the word amendment being in there. signals to us. that it wasn't part of the original text. of the Constitution. It's an amendment. It's something they had to add on after. So is the Second Amendment. I mean, all. of them, by definition, right? So we shouldn't be afraid of that kind. of thing. It's only by an amendment that. we get to pick who our senators are. Before that, it was the legislature. Same thing for making sure that black. voters and and and the women could be. voters. We shouldn't be afraid.

to use maybe the most elegant feature of. the entire Constitution, which is that it has a process. to change it. We should use it. All of the things you. I've mentioned are these kind of system. reforms. They're about the engine. So. then the policies, what comes out of the. engine, like do we get paid family leave. in this country? Do have fair taxes? Is. there a health care system that gives. everybody health care? All that stuff is. decided by a government that works. better. >> Much of the reason most people haven't.

posted content or built their personal. brand is because it's hard and it's time. consuming and we're all very very busy. And if you've never posted something. before, there's so many factors in your. psychology that stop you wanting to. post. What people will think of you. Am. I doing this right? Is the thing I'm. saying absolutely stupid? All of these. result in paralysis, which means you. don't post and your feed goes better. I'm an investor in a company called. Stand Store, which you've probably heard. me talk about. And what they've been. building is this new tool called Stanley. that uses AI, looks at your feed, looks.

at your tone of voice, looks at your. history, looks at your best performing. posts and tells you what you should. post, makes those posts for you. You can. also just use it for inspiration. And. sometimes what we need when we're. thinking about doing a post for our. social media channels is inspiration. Building an audience has fundamentally. changed my life, and I think it could. change yours, too. So, I'm inviting you. to give this new tool a shot and let me. know what you think. All you have to do. is search coach.stephan.store. now to get started. There should be a button just down below.

here. And if it says subscribe, you're. already subscribed. If it says subscribe. bar, that means you're not yet. And if. you're not subscribed, please could you. do us a favor and hit that button. It. helps the show more than you know. And. according to the algorithm, you're. someone that watches our show, but you. haven't hit that hit that button. Thank. you so much. >> What do you think of Elon Musk? >> The richest man on Earth, the arguably. most famous entrepreneur on planet. Earth, building companies here in America. >> Very intelligent. Has had an extremely important impact on.

a whole bunch of things. Um is right about. a lot of things and is very wrong about. a lot of things. And lacked the humility. to understand. some things that would have saved him. from doing a lot of damage based on how. long he was. So, you look, for example, at the tragedy of the failure of Dodge. And the thing that most upsets me about. the failure of Dodge. is that we actually needed. an effort around government efficiency.

But what we got. was unbelievably sloppy, making math. errors. And the one thing they're. supposed to be really good at ought to. be math. Maybe I don't mean like little rounding. errors, like saying billion when they. meant million. On the {quote} "wall of receipts", the. whole purpose of which was to show that. they knew what they were doing, and they. were transparently documenting their. choices. Firing people they didn't know what they. did, and then having to scramble and. hire them back on things like nuclear. weapon safety,

or managing biohazards and communicable. diseases, and leaving a federal government that. actually spent more. after Dodge than before. Elon used to be. a Democrat. >> Yeah. >> He would then have had him say this that. the Biden administration basically. snubbed him. They were sort of. adversarial towards him. There's always. the the story people talk about about. the electric vehicle summit in 2021. where everybody was invited, GM, Ford, Chrysler, but Elon wasn't invited and.

that was a mistake. >> I was there for that. I can tell you how. the mistake happened. There was a. difficult and complex set of. negotiations happening between the big. three automakers to try to get to a new. framework moving forward on tailpipe. standards. This event was built to kind. of celebrate the agreement that had been. reached. around tailpipe standards. Um and Tesla, because all they make are. EVs, doesn't even have tailpipes. And so. people weren't really thinking about. inviting Tesla, but what Elon saw was.

there's an event at the White House. about EVs. He is. if not single-handedly responsible, certainly is the person most responsible. for EV excellence on American soil. And he's saying, "What the fuck?" And I. I don't blame him for that. >> And he publicly broke ranks with the. Democrat party. He bought Twitter. and ultimately became Donald Trump's. largest donor and key surrogate. It's. It's interesting I think I asked this. question because I think uh the any. president is going to need to contend.

with both solving the probably a problem. in of inequality, this national debt, while also keeping entrepreneurs happy. and highly productive at the same time. And the the. of the two parties, Republican and. Democrat, the party that is typically, according to the data, more associated. with being entrepreneur-friendly is the. Republican party. It's not often you hear billionaires are. evil coming from the Republican side. from the Republican side. But that.

that's a prevailing narrative on the. Democratic side is that billionaires are. evil. >> I don't know if that's the prevailing. narrative, but I get what you mean. >> It's It's more dominant on the left than. it is on the right. >> Yeah. I think that's fair. >> Yeah. But, look. I mean, you have to. engage. everybody if you want to be in a high. position of leadership. Like, the last. time I had a specific problem with Elon. when I was Department of Transportation, uh I called him. We talked it out, and. we figured it out. And we actually. solved the problem together. It is. amazing in my experience how many. problems can be, if not solved, at least. better faced if you just pick up the. phone.

And well, we have this style of politics. now where everything's combat. You're. not just disagreeing with somebody, you. got to destroy them, right? And that's really bad for America. It does not lead to good political. outcomes. And so, especially when I disagree with. somebody or I have a problem with what. they're doing, we should be talking. >> On the left, you've got AOC saying, "You. can't make a billion dollars, you take a. billion dollars.". Is that true in your view? >> I don't know. That doesn't make a ton of. sense to me. I I will say there's a lot.

of different ways you can get a billion. dollars. And right now, the easiest way. to get a billion dollars is to have 10. billion dollars and do nothing. You know, the thing we most admire about. the entrepreneur is that they work hard, and they do things, and they make. things, right? And they generate value. And And I think most Americans don't. spite you the value that you get from. having created even more value. I think at the same time, we see a lot. of outcomes in the market that seem to. be about just like money just sort of. happening to whoever already has money.

Many of them have seen their wealth go. up like tenfold in the last few years. Way more than how much their wealth went. up in the few years before that. So, I. guess like. the thing you did between zero and a. billion, in my experience, is usually much more. impressive than whatever you did between. 1 billion and 10 or 10 and 100 or 100. and 500. And I think we are in a political system. where it would just be so naive to think. that the amount that the market gives.

you is just purely equal to the amount. of benefit that you create or the amount. of hard work that you put in. >> Yeah. >> Some people work hard and they earn a. lot. And some people don't do and. they wind up with a lot. And some people. are a mix of those two things. >> It's definitely not correlated to hard. work, that is for sure. I've never met. anyone that worked harder than my mom. and working in you know coming from. Nigeria, can't read or write, comes to. the UK, uh works every waking hour that she can, never complains, and still financially. struggling as a result of that all the. time growing up.

So I you know I know that very. intimately that hard work doesn't equal. wealth at all. >> And I don't think people would be as. angry about billionaires as they are. if there weren't millions of people. whose story is closer to that of your. mom. >> Mhm. >> And it brings me back to this idea of. the American dream where. you know it's supposed to be the case. that generally. you come out ahead if you as the saying. goes you work hard and you play by the. rules. And that definitely happens. sometimes. But it doesn't happen enough now. And. most importantly it happens less in.

America than in certain other countries. And it happens less in America than it. used to in America. And those two things. are the big blinking alarm lights to me. >> AOC also said a system that allows. billionaires to exist is immoral. >> Yeah, I don't think I agree with that. It's not whether they exist, it's. having too much power. It's it's being able to turn economic. power into political power. And then using that power to get even. more wealth. That's why people are so furious because. they see that happening and are not.

wrong. And the role of money in our. politics is just one example, probably. the biggest example. of how that can happen. I think. Americans wouldn't mind people being as. wealthy as they are nearly as much if we. didn't have the inequality that we have. And if we didn't have some of those. people using their wealth to assert. political power in a country whose whole. founding principle is that the. millionaire or I guess billionaire. stands in line next to the dishwasher.

and the taxi driver in the voting booth. and they all have the same political. power. >> Yeah, I can It's It's interesting cuz I. can weirdly relate to both sides of the. spectrum. If you go back, I don't know, 13 years, I am broke, family not. speaking to me um cuz I've decided to. drop out university, and I am I can't. feed myself. to put it in a nice way for a long. period of time living many hundreds of. miles away from home in terms of a round. trip. And then you jump 13 years forward. and I'm running these businesses and the.

businesses are going well. So I I kind. of It's weird. I oscillate between these. two worlds of. entrepreneurship and being very pro. entrepreneurship entrepreneurship, but. then falling back into that 18 19. 20-year-old me who really needed society. to catch up to be quite honest. >> Mhm. >> Um thankfully I lived in the United. Kingdom where we have health care. >> Yeah. >> But when I moved here. >> Yeah. >> at 25 years old to launch the business. here in New York City and run the office. here, I discovered that you guys don't. offer like health and that I had to ask.

the employer. >> Yeah. >> pay for all of my team members' health. care. I was just really What the hell. What the hell What the hell is going on? I thought this was the land of the free. and the. all those kinds of things. >> Yeah. >> So I kind of I kind of understand both. ends of the spectrum and I it makes me. realize that actually it's the. inequality. It's the people at the the. sort of bottom of the ladder, per se, being so far from the top of the ladder. that is the central issue. So what is. the radical idea that you bring forward. to end inequality? Is it I mean. presumably it's not just tax wealth. >> Well, here Yeah, here's the thing.

>> you lift people up? >> I actually think the ideas for fixing. those economic problems aren't that. radical. The weird thing is in order to get what. I think of as very reasonable economic. ideas through, you have to have radical. change on the political side. Economically, we can do this mostly with tools that. are very familiar to us. Make sure that. there are higher tax rates, not to. punish the wealthy, but to get enough. revenue to do so government can do its. job. Make sure there are higher tax. rates on the uh not on all Americans.

compared to today, but on the corporate. profits and on the the wealthiest. individuals. Make sure that it is harder to hide and. move around money so that you never have. to pay taxes on it at all. And then what. do you do with that money? You make sure. there's a healthcare system where, for. example, somebody in the situation you. were in. still gets to be an entrepreneur cuz. they don't actually have to worry that. they won't have healthcare if they don't. just take the next low-wage job. available to them. Invest in education enough that we are.

preparing for people who know not just. how to work, but how to think so that. when work changes, they're ready. Make sure that we make it easier to have. a family. Things like paid family leave. and. using tax credits to compensate people. who. give care to their parents and or. children. It can have a huge freeing effect on. people and I think it's the right thing. to do. And it's a way to respect that. that's work, too. Yeah, I I've had roles.

and jobs where. I have worked very, very hard, but the. hardest I've ever worked in my life. was when I was on parental leave when. we adopted our newborn son and daughter, our twins. That was the only time that they are. Yeah, I mean, that was the only time. that. I was routinely getting up at 3:00 in. the morning. If I was lucky, I could get. a nap at 5:30 in the morning. Uh and was just working until I. physically couldn't work anymore and.

then. tapping out and then Justin trying to my. husband trying to, you know, we'd. alternate and and and help each other. And that work was a beautiful work, very. hard work. Is work. I think we also need to. invest in things like national service. so everybody has an experience Military. is not for everybody, but everybody. should know what it's like to be. part of something bigger than yourself. and to work on something that is hard. with people you don't already know. I. think if we have that, we'll have more. trust.

Where did you find this one? >> So, this These are some uh. some photos. >> Wow. >> of a much younger Pete. I'm really. curious that you know, I saw the Kamala. I learned a lot lot lot lot about her by. just understanding where she'd come. from. >> Yeah. >> And her parents and her early contacts. What is it about your early context that. shapes your world view as. Mayor Pete, but also Secretary Pete, and. potentially someday. President Pete. >> Huh. Well, my dad came to this country because he. thought he could have a better life.

here. Um. not exactly in a rags-to-riches sense. He came from a middle-class family. uh in the tiny country of Malta. And the way he tells the story is that. he he he he knew that he wanted to come. to the US and go to grad school. and he had a mentor who said, "Look, if. you stay here, I can promise you that you will be a big. fish in a small pond.". And he said, "I'd rather be a medium-sized fish in a. very big pond.".

Which is a great way to think about. coming to America. And that's exactly. what he did. Um he came he went to grad. school. in Binghamton, New York. And then he got a job in New Mexico, Las. Cruces, New Mexico. He met my mother who. was teaching there, too. She was a young. uh linguist. They got married and then the first good. job he got was at University of Notre. Dame uh in South Bend, Indiana. They. moved there and pretty soon after that I. was born. And so, I grew up with parents who you.

know, cared a lot about literature and. learning and they cared a lot about. politics. We weren't like politically. connected. I don't think I ever met an. elected official while I was a child, but I grew up with this sense that it. was very important to know what was. happening in the world. My dad was. always reading the newspaper, the TV was. always tuned to the news. It was just a. sense like that's the most important. thing. Whatever's happening in the world. is the most important thing that you. ought to be paying attention to out. there. I don't know, it was a great. upbringing. It was great parents and um. a good neighborhood and good friends. You know, I felt in both a sense of.

belonging and a sense of being an. outsider kind of at the same time. And I. had this name that nobody could. pronounce and we were in this great. neighborhood. People did all kinds of. different things. Our neighbor to one. side laid carpet. Uh family across from. us were retired public school teachers. Waiting on the corner was a nurse and. I'd see her walk down to the night shift. at the hospital a couple blocks away. every day. And. I felt like the texture of that. neighborhood like really belonged to me. But at the same time like I also felt.

and knew that I was like I was. different. Like this is before it was. like trendy to drink espresso for. example. That's like a weird immigrant. thing that my dad did. You know, like he. had this little thing you'd put on the. stove and make espresso. Um and I. remember them being kind of bewildered. when like Starbucks became a thing, you. know. And then the the surroundings of it all, the city of South Bend, which people. know that you know, the University of. Notre Dame is there. But the other thing. that was there was Studebaker. This was. as big a car company as like GM or Ford. in its day. But it stopped making cars.

in 1963. They just couldn't quite. innovate and keep up and the company. collapsed. That was a catastrophic thing. for the city. The city lost a big chunk. of its population and never really. recovered it. And when I was a kid, I didn't really. know any different. I didn't realize it. was unusual that factories. that hadn't been operating for decades. in some cases that that looked like. they'd been hit in a war. Just like. collapsing big giant structures falling. apart all over the city.

I'd see them, you know, out the window. of my dad's Chevy on the when he was. driving me to school. And gradually as I grew up, I kind of. put the pieces together of what it meant. to live in a place whose. best economic days had been behind it. And and the message that I got, the kind. of lesson that I was given was I don't. know if anybody said this to me in a. sentence, but but the world kind of said. to me was if you want to be something, go and be someone, you have to get out. You have to move out. >> Did your dad say that? >> Not that I remember. I mean, he That's.

the irony, you know, he's this worldly. very worldly man, you know, been all. over the world, but he chose to live in. South Bend. He died in South Bend, Indiana. That was where he lived his. life. But I I don't know. You do You just get. this. sense that that was what you were. supposed to do. And then I did. I got into Harvard, got to the East Coast to go to college, and then immediately began to understand. that I was I was a from somewhere in a. way that I didn't understand when I was. growing up and started to feel this kind. of. loyalty, this kind of like almost militant.

attachment, partly cuz I heard the way. these people talked about where I was. from. >> He passed away while you were running. for president? >> Yeah, it was just right about the moment. that I was announcing the the beginning. of the campaign. Yeah, like literally. the same week. >> Unexpectedly? >> He had been diagnosed with cancer. in September, and we knew that it it was pretty rough, and he passed away in January. So, yeah, I mean, there was. you know, not overnight, but three or.

four months. >> Destabilizing in the lead-up to the most. consequential decision and period of. your life? >> Yeah. Yeah. I mean, you know, this really big important part. of your world. And we were close. I, you know, I moved. into. a house that was on the same block as. where my parents lived in South Bend. Home for dinner every Sunday night. I. mean, to have him become ill. and then to have him. pass away. just at the moment that we were starting.

to launch. Sometimes I look back on it. and. actually don't know how it worked. I was. trying to remember something and I. looked back at my like emails and I saw. some. email I sent at like 3:30 in the morning. to my someone on my staff like it was. normal. I think on the city staff cuz the other. thing is I was still mayor, right? So I. was running the city. facing my father's death. During that period my mother had a. heart attack and heart surgery. And then launching this campaign like.

all within a few within a few weeks with. each other. It's a lot. It's a lot at once. >> It's a lot for one person to take. How. how do you deal with all of that? The. noise, the the family stuff at home, the. loss of your father all at once. What's. the strategy for. >> How do I strategize a word? Um. but my way of dealing with it. First of. all, I had a lot to do with Chasten, so. Uh all this happened Yeah, we got. married in.

2018. And all of this happened toward the end. of 2019. So we hadn't been. married for long. I never. guessed when. Neither one of us guessed on our first. date. or even when we got married that that. this was happening. >> What is the you know, I've got lots of. friends who have been on the journey of. um. sort of. discovering their sexual orientation at. a young age and then. going through the process of being. comfortable enough in that kind of.

environment to. announce it to the world. >> Yeah. >> How does that What's the sort of the. journey of of you knowing who you are. and then feeling comfortable enough to. announce it? And what was the How do I. put together the picture of like how. your parents understood that, how the. world understood that, how you. understood that? And also I guess the other question that. I have is like. American politics. >> Yeah. >> How does that understand it? You know, you've got the right, the left. How do. you think about all of that at the. moment? >> Yeah, I mean I'd like to believe we'll. get to a day when it's just.

not a thing. No one cares. And it doesn't affect your career. It. doesn't affect your opportunities in. life. It just is what it is. That's how I feel it should be. But, you. know, that's not. how it was or how it is. I mean, when I. was commissioned into the Navy Reserve, it was still the law of the land that if. I was known to be gay, I'd be fired,

right? In fact, when I. when I finally made peace with this. reality. that I was gay, >> What age? >> I was well into my 20s cuz I wanted so. bad for it not to be true. that even though. obviously I was the whole time, I just needed it not to be true. And working through that took most of my. 20s. And then when I finally kind of came to.

terms with it, it was also around the time that I was. I was running for mayor. And maybe because. not being able to come to terms with it. meant that I didn't have really a dating. life, maybe in some ways that helped. professionally cuz I I had nothing else. to do with my energy, you know? Um. but I remember. when I realized I was going to win, I I realized it was important that I.

kind of finished the process of coming. out to myself, which meant. I had to come out to somebody else. That was what kind of marked it, you. know? And so. I had a conversation with a close and. trusted friend. And I remember. part of his reaction was to. say, you know, to joke that like. you didn't exactly make it easy on. yourself because well, you know, my. whole career professional life had two. parts.

One was being. a Navy officer when that could be. career-ending. And the other was being an elected. official in Indiana, which had. was well on its way to getting a. reputation as. maybe the most anti-gay state in the. country. Mike Pence hadn't yet become. governor, but he soon would. On one level I was at peace with this. fact. But I also knew it could be a. career-limiting fact. So I kept it to myself.

for. a long time. And then I just hit a point where I. couldn't do that anymore. And then it was time to come out because. well, the thing that really put me over. the edge was when I was getting ready to. deploy to Afghanistan. I was already in. there, but like a lot of people in the. reserve, you leave your day job to go. when you get called up. So. when you deploy in a war zone, they tell. you to write a letter. just in case you don't come back.

Which I did. And. in that I. in that process, you're kind of taking. stock of your life. You're thinking. about what you want to say. to the people you love most if you don't. come back. And that was kind of the the moment that. really is the final moment where I just. thought if I Here I am, I'm taking stock. of my life. I have a great life. But I'm a grown man in a position of. responsibility. I'm a homeowner. I'm. going to be a veteran. I don't know what it's like to be in. love. And I just thought that's not that's.

untenable. And so I promised myself that. if I came home. safe, I would deal with this. And I came home physically safe. And. the problem was there was a re-election. coming up, but I didn't want to have to wait until. I'd been reelected. Um so I figured out a way to come out. And I I was kind of resentful of the. idea that I even had to, like straight. people don't have to come out. But I knew that if I just. tried to just like show up at some. Chamber of Commerce dinner and my date.

was a dude that night, like that was. just not I couldn't do it that way. Um. and I didn't want to be like quote. unquote found out. Like I definitely. didn't want to be hiding it. But I wanted to start dating. What about. you? >> Your parents? >> I remember. it was weird cuz again I I knew that. they were forward-thinking. I knew they. were accepting. I knew how much they. loved me. Uh. but I had a it took me a while to be.

ready to come out to them. And I do, you know, like I said, I used. to go home for Sunday dinner every. night. And uh and so I was home for Sunday. dinner one night and. kind of. pushing my ice cream around with a spoon. in the bowl and just thinking about and. then I just took a deep breath and it's. just like I got to tell you something. And um. yeah, as I expected, like they, you. know, responded with love and acceptance. and I know not everybody gets to expect. that, so I'm I'm thankful for that.

My dad was immediately worried about. what it might mean for my future. Not in. a way that he was trying to like talk me. out of anything, he just. thought about that and talked about it. My mom wanted to know if I was dating. somebody. I think she had had her eyes. on, you know, maybe becoming your. grandma for a long time. Um I wasn't dating anybody, but you. know, I don't know, it was probably within a. year of that that I brought Chasten home. for Sunday dinner for the first time and. watched him hit it off with my parents, which is just like everything about that.

everything about that scene at dinner. was just not a thing that I. could have thought would have been. possible. just just a few years before it was. happening. >> By the way, I just to say that's really. beautiful. And I it's I think you. probably don't realize the um. the net impact that decision had on. many, many people who are contending. with their own sexuality um by being. both a politician. I think you were the. you were also the um. Were you the first person in a. presidential candidate to be openly gay.

as well? >> Uh definitely the first person who was. considered to have a shot. Yeah. I mean, not that I was considered to have a shot. when I started. >> Yeah. But I think in the same way that. Obama paved the way for lots of other. people to expand their minds as to what. was possible for them because of their. identity, I think you've certainly done. that. And I think it's um. it's a weird word word to say courageous. or brave. um as it relates to just being yourself. >> Yeah, I mean, it was a personal. decision, but. >> But I think that when there's. consequence and there's obvious. consequence and you do something. irrespective of that, I do consider it. to be very admirable in that regard. We.

have a closing tradition where the last. guest leaves a question for the next not. knowing who they're leaving it for. The question left for you. is what is the thing. that the world needs to hear right now. that it maybe doesn't want to hear. that is uncomfortable but necessary. Hmm. I think it's. that.

it doesn't have to be the way it is. but. we have to do the hard things. to change it. Like. people can feel that things can't go on. like this. And I go around all around the country. reminding people that it doesn't have to. be like this. But it's not going to change on its own. Like you can't just sit back and let. some pattern. or some. wave of history. or some technology just like come save.

the day. It doesn't work that way. Everybody's got to be part of it. Everybody's going to have to give a. little something up. And. if we do it, it'll be great. But hard things are hard. >> One of the things that's quite different. between you and other politicians as. well as I think you are most willing to. go and talk to the other side. >> Yeah. >> But just before you arrived here, you. were actually over at Fox News. >> Yeah. >> And I think that's also something that. gosh, both political sides haven't. always wanted to do. If we're talking. about the things that are not nice to.

hear is you actually have to go talk to. your quote and quote enemies or. adversaries or those that are totally. against you. And I applaud you for. really leading the way there and you do. a remarkable job of it cuz you're so. bloody articulate and smart. Um. but I think there's a that's that's. something important as well in this. moment in time. >> I think it's. like politics good politics is about. encounter. Like it's about encountering people. What's the point of doing this if you're. only. truly talking to people who already. agree with you. So yeah, to me it's it's it's a very. natural part of the job. I get why it's.

hard. I get why not everybody does it. Um but to me it's one of the most. important ways to earn my my keep. >> Thank you for doing that. Because it's. so wonderful to see the. I'd say conflict of ideas in in in. public. Well, it's wonderful to see you going to. the other side and I know you've been on. a bit of a tour of red states recently. doing exactly that. I I wish more. politicians would do that because as we. get to see those ideas that often exist. on extreme poles um collide and we get. to make our own mind up and please keep. doing what you're doing. Thank you. I. think it's really really remarkable and.

the values that you have I also respect. a huge amount. So thank you for being. here and I appreciate your generosity. >> Thank you for coming. Thanks for having. me. >> YouTube [snorts] have this new crazy. algorithm where they know exactly what. video you would like to watch next based. on AI and all of your viewing behavior. and the algorithm says that this video. is the perfect video for you. It's. different for everybody looking right. now. Check this video out. I bet you you. might love it.