Hi everybody. Welcome back to the show.
Now, on this episode we unpack how the US government is
pressuring foreign Nations to approve.
Elon musk's starlink in exchange for favorable trade terms, why
developing countries are using starlink licenses to deflect
tariffs and how this strategy complicates us diplomacy amid
growing competition with China, in global internet
infrastructure. Also, we're going to explain why
the state department the naming starlink in official cables and
what role from allies are playing in these efforts and how
regulatory pressure Blends would geopolitical goals, and we're
all going to examine how these moves are being interpreted by
Foreign leaders especially in Africa and Asia and what this
means for start links expansion plans.
Welcome to the Elon Musk podcast.
I'm your host will Walden Now, on March 28th, 2024 officials
and less that though, awarded Elon Musk Sterling a 10-year
set, like internet license. Now, just two weeks earlier, the
Trump administration had imposed a 50% tariff on their exports.
To the US, the decision came during early stage negotiations,
over a new trade agreement between the two countries.
The lethal Communications Authority hosted starlink
Executives. In a meeting shortly after the
Tariff announcement, internal memos from the US state
department revealed that leso hoped the license would
demonstrate Goodwill during trade talks.
Now the key will see that the move showed intent to welcome us
businesses. Specifically starlink now that
pattern has repeated and at least seven countries, since
Trump's return to office, starlink struck distribution
deals, in India and gain Traction in Somalia, Pakistan,
Bangladesh, Vietnam and the Democratic Republic of Congo and
potentially others. These deals often coincided with
new tariffs or economic pressure from the US according to
internal diplomatic cables reviewed by The Washington.
Post US embassies in State Department officials have
actively lobbied for Starlight approvals and foreign Nations
Secretary of State, Marco Rubio, signed at least two official
Communications Instructing us diplomats to promote satellite
firms naming, starlink explicitly.
In a March 28th. Action Memo Rubio said, Global
regulatory support was essential to preserving Sterling's first
mover advantage in one such case, India's Fast Track Star
Lake regulatory process. While also renegotiating trade
terms, with the US according to International sources familiar
with India's decision, making Indian leaders viewed starlinks
entry as a lubricant for the talks though, not formally.
Part of trade negotiation, starlinks access was
strategically positioned as a gesture toward Washington
Rubio's. Diplomatic memos frame, Chinese
and Russian satellite services is threats to US National
Security. The argued that American firms
needed help, entering Mark gets before, competitors gained
footholds officials cited by name in nearly every single memo
even as they promoted a general preference for us settlers
Services, the Trump White House tonight, any conflict of
interest related to musk's involvement musk donated to a 77
million dollars to Trump aligned candidates and currently leads
the US Doge service though. He announced plans to step down
the White House said, the only priority in trade deals was
protecting American economic interests.
However, the Optics around musk's political influence, have
created some tension. Foreign officials are finding it
difficult to separate us official interest from you as
musk's business Ambitions. And analysts point to the timing
and coordination between two trade pressure and starlight,
license approvals as strong signals of implicit pressure.
Now in Cambodia the connection between tariffs and starlink
approvals was even clearer on April 2nd.
Trump slept the 49% Tariff on Cambodian Goods.
The next day us business represented in Cambodia urged.
Local officials to offer starlink access and duty-free
entry for Ford vehicles to restore trade ties.
Now even before the Tariff though, The embassy documented
Cambodia is consideration of Starling as a trade balancing
tool, cables. Dated March, 28th, showed local
officials were exploring Sterling access to Signal
alignment with the US government and the embassy noted, the
Cambodian government wanted to promote Boeing and starlink to
of economic penalties Meanwhile, in Mali Embassy staff reported
the local authorities were building a regulatory framework
to bring starlink in to the country.
Embassy Personnel said they had already identified a company
preparing to launch a local Sterling franchise.
Now, the memo noted the embassies internal deal team was
actively assisting the process. And in Turkey, Embassy staff,
delivered, talking points directly from Rubio's memo to
senior space agency, officials. Turkish Regulators had already
expressed interest in services, like Sterling and Amazon's
project Kuiper and the cable recorded the meeting and
described it as part of an ongoing us effort to push
satellite internet the diplomacy.
There's other similar campaigns underway.
And other countries have pledged to continue to follow up on.
Starlink musk satellite business has enormous Financial stakes in
this International expansion, according to quilty space for
specializing and satellite marketing research, internet
company, starlink could generate one billion dollars annually.
For just 1% of India's Broadband Market comparable, growth,
potential, existence of Latin America in sub-Saharan Africa.
Now the state department of the United States as a longstanding
interest in Satellite based internet access under President,
Biden secretary Anthony blinken. Signed a cable supporting the
low earth orbit or Leo said, like vendors as alternatives to
traditional isps the cable issued in.
December Cent, 50 US, Embassy is already used Leo systems and
more would follow Lincoln's cable did not favor.
Starlink exclusively. It said that department would
expand access to other vendors as they became available.
However, since Trump's return, diplomatic cables, increasingly
referenced. Starlink by name in urge
officials to advocate for its Market entry, wqa more of the
center for Global departments that African nations are
approving. Starlink licenses more
frequently under Trump. Than, during the previous
administration, he explained that many African officials
perceive musk's interest as deeply intertwined with us
diplomatic efforts. Now that perception he said
affects how countries make licensing decisions.
Now for every day people in these countries though, starlink
offers faster internet in places where traditional Broadband just
doesn't exist governments facing pressure to improve
connectivity. See Starling as a shortcut to
digital accents, but these choices are being made under
Trade stress, which raises questions about severity and
transparency for American citizen.
The story, reveals how foreign policy supports certain private
companies that hold political leverage, taxpayer funded,
diplomacy being used to sheep deals that enrich a few
individuals. Why you have advancing
geopolitical goals? Whether or not starlink
performs. Well, in these countries, the
business is winning access through methods, tied to trade
negotiations, not just open markets.
Now, the strategy. Also, reforms how China's Tech
expansion is, reshaping US foreign policy.
The United States sees the Telecom race with China is a
zero, some contests, and by tying Starling to trade deals,
the US government is actively prioritizing internet.
Structure as a strategic resource while no formal deals.
Have yet been signed since the April 2nd, tariff announcements,
the groundwork for trade link. Concessions is being laid
through technology access Each country, they Grant Sterling a
license sends a message to Washington that it is willing to
play ball. The balance of power in these
negotiations is tilting toward whoever controls connectivity.
Elon Musk now has his own city in Texas SpaceX is private
launch site in Boca Chica Village, has officially become a
city named Starbase after residents, voted 212 to 6 in
favor of incorporation. Nearly all voters were SpaceX
employees or family members since the company owns.
Most of the homes in employees. Most of the people living in the
area, this vote turns, what was once a sleepy Coastal Village
into an officially recognized municipality lighting entirely
by people who work for Elon Musk.
Now this episode will cover Starbase how musk made it
happen, why some people are celebrating it, why others are
protesting breakdown, the vote who's now in charge and what it
could mean for public land acts as environmental concerns.
And how companies might take control of entire communities in
the future, the creation of Starbase also raises a huge
question, what happens when a private Corporation becomes the
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Thank you so much. Elon Musk now has his own city
in Texas, spacex's Private launch site in Boca Chica
Village, has officially become a city called Starbase after
residents, voted 212 to 6 in favor of incorporation.
Nearly all voters were SpaceX employees or family members
since the company owns. Most of the homes and employees.
Most of the people living in the area this vote turns, what was
once a sleepy Coastal Village with a few people living there
into an officially recognized municipality, led by people who
work for Elon Musk. Now, this episode we're going to
cover what star base is, how musk made it happen and why some
people are celebrating It. While others are also
protesting, we'll break down the vote who's now in charge and
what it could mean for public land deck, assess environmental
concerns and how companies might take control of entire
communities in the future, the creation of Starbase has a big
question attached to it. What happens when a private
Corporation becomes the government Elon Musk has talked
about building a city in South Texas, for years.
Now, we've done it on Saturday voters, mostly SpaceX employees
approved turning Boca Chica into the city of Starbase.
The town covers just one point, five square miles, but includes
the SpaceX launch site for Starship and that's the massive
400 plus foot tall rocket. That Elon Musk hopes will take
humans to Mars. I want to go back a few years
right after the pandemic, I went to Starbase and I lived there
for around a year. I was covering Starbase and
everything happening there when they were building the initial
Starship, I was on the side of Highway 4 every single day, in
the 110 degree Heat. Filming videoing live streaming
them. Completing the first ship and
booster and putting it on the pad.
Now, let me tell you this. They are Far away from
everything. The closest city is Brownsville
Texas and it's about 30 minutes away you have to go.
Way down a desolate Road and there's nothing there.
So, building spacex's Starbase into an official City, you might
have thought, maybe they were encroaching on a lot of people,
but they really were not. There were only a few people
living there when they're making this into its City.
So, Take that into consideration when you learned a little bit
more. But the city elected, its first
mayor, who's Bobby peden, who has worked at SpaceX.
Since 2013, two City commissioners were also elected
both with close ties to the company, and all three ran
unopposed. There were no public debates.
No, local forums and no traditional campaigning, the
move gives musk more control over roads, zoning and local
Services. SpaceX says this will help them
build housing, and infrastructure for employees.
Something County officials have previously blocked now with
their own City, they can improve what they want faster, and with
fewer outside or restrictions, but not everyone supports this
Protesters have gathered in nearby Boca, Chica Beach, the
day of the vote, local activists environmentalists and members of
the Carrizo tribe of Texas. Say the beach and surrounding
land are being destroyed each rocket launch requires
evacuating the whole area and residents, say the losing access
to places they've used for Generations.
And musk is not commented on these concerns though, but the
new city is already pushing from more Authority.
A bill moving through, the Texas legislature, would let start be
officials who are actually musk's own employees decide when
to shut down a public beach. During the weekdays, if it
passes SpaceX won't need County approval anymore to close the
beach for racket tests. They can do whatever they want
to. And this sets a dangerous
precedent, the city is entirely populated by people who depend
on SpaceX for their jobs and housing.
That means the local government serves the company not the
people Starbase now operates, like a private company town,
with real, political power. And musk is not the only Tech
figure with these ideas though. Mark andresson and read, Hoffman
are funding a similar project in California, and Peter Thiel.
Once backed plans for floating cities, but Elon Musk is the
first to actually figure this out.
He got a city recognized staffed by employees in designed to
serve a private companies needs. Now.
This players alliance between private business in our
government Starbase. Now, controls roads utilities
and soon. Possibly the beach, that means
SpaceX can shape the laws any way that they want.
There are transparency laws though in Texas, so the city has
to follow public records rules. But oversight is minimal.
If there are no independent voices in power, the big risk is
that other companies can do the same thing.
If this works for Elon Musk, it's likely others will follow a
tech, billionaire, could build a Workforce Town, gain control of
local, rules and shape. The community that exists solely
to serve one business. And now Starbase is a real City.
Its run and owned and built by the world's richest man.
Let me know. What you think in the comments
if you have comments on your podcast app, what you think of
this? Do you think it's a good thing?
Do you think incorporating the city will help Elon Musk and
SpaceX get to Mars faster? Well, they have less red tape to
go through in order to test Starship which could push them
faster and faster to build building hundreds of these
Rockets to get to Mars. Let me know in the comments.
Hey, thank you so much for listening today.
I really do appreciate your support.
If you could take a second and hit this subscribe or the follow
button on whatever podcast platform that you're listening
on right now. I greatly appreciate it.
Helps out the show tremendously and you'll never miss an episode
and each episode is about 10 minutes or less to get you
caught up quickly and please if you want to support the show,
even more go to patreon.com slash stage zero and please take
care of yourselves and each other and I'll see you tomorrow.
Why is Jeff Bezos cashing out about four point?
Eight billion dollars in Amazon stock and what is that say about
his future, Amazon's Outlook in the timing of his move to
Florida. So Jeff Bezos has submitted
notice that he will sell up to 25 million shares of Amazon by
May 29th 2026. The public filing made with the
Securities and Exchange Commission.
States, the sales are part of a pre-arranged trading plan,
initiated on March 4th at Amazon's current share price.
The potential sale amounts to about 4.8 billion.
Now this comes just one day after Amazon posted its first
quarter results which while strong on paper stirred new
concerns about what lies ahead Bezos who is still Amazon's
largest shareholder with over 1.5 billion shares.
As a February has already sold large blocks of stock before.
But this latest disclosure raises new questions.
Not just about Bezos, but about the shifting Financial realities
inside, one of the most influential companies of all
time, by Amazon's earnings reporter, arrived late, Thursday
and beat expectations. In several categories, Revenue
reached one 1 5 5. 7 5, 9% increase from the same period.
A year ago, and net income surged to 17.1 billion or 1.59
per share, outpacing, wall, Street's expected, 1.837 per
share. Now these numbers confirm that
Amazon's core businesses. E-commerce, Cloud advertising
are still delivering but the stock barely moved shares closed
with just a 0.2% bump trading at 190.62, dollars on Friday
afternoon and that limited reaction reflects.
What investors are still trying to understand, how Amazon will
handle the uncertainty, stemming from political pressure, in
international trade volatility, the much of the concerns on new
terrorists, introduced by Donald Trump's White House.
Trump's measures could affect Amazon supply chain and pricing
structures report service this week.
The Amazon was planning to visibly show customers the cost
of tariffs on the website. Now that detail set off alarms
for Donald Trump and he personally called Jeff Bezos
ambesonne later clarified, that it was not making such a change,
but the incident Illustrated love of scrutiny.
Now shadowing Bezos and his company, a basso has a History
of liquidating, large volumes of Amazon stock to fund his other
Ventures 2023. He sold 13.5 billion dollars
worth of shares the first time he had done.
So since stepping down to CEO in 2021 and then included two major
sales, one of February involving, 50 million shares,
another in July covering, 29 million more in those
transactions were both worth billions and worst strategically
timed. Now, one aspect of the timing
caught particular attention. Bezos officially moved from
Seattle, Washington to Florida, are on the same time.
So sales now Washington State implemented, a 7% capital gains
tax in 2022 and at Bezos had remained of Washington.
Those sales would have resulted in nearly 949 million dollars in
tax liability. And while he never publicly
sighted the tags as the reason for his relocation public
records, show that he did not sell any Amazon stock in 2022 or
2023, while living in Washington, Florida has no state
income tax or capital gains tax. The timing location change.
In stock sales, paint a picture of carefully.
Calculated Financial strategy. Now, the new trading plan filed
in March allows Bezos to spread the 25 million share sale over a
span of more than two years and the structure, suggests some
more gradual exit compared to last year as compressed
schedule. But even at a slower Pace, it
still adds up to a large dollar amount.
It also signals that Bezos is not retreating from liquidating
pieces of his Amazon stake, you need to feed continues to hold a
billion shares in the company. And Jeff hasn't been in
day-to-day control of Amazon since 2021, when Andy Jesse took
over a CEO but it's Financial moves, still send a message just
specially. When they follow big corporate
events or aligned with major political regulatory
developments after stepping away from Amazon Bezos has devoted
his attention to Blue origin Aerospace company and the 10
billion dollar Earth fund, he launched to address climate
change in biodiversity still active, in Philip, the Epic
efforts including the day one fund, which supports education
and housing initiatives and underserved communities.
And selling shares allows him to fund these Endeavors but it also
naturally invites scrutiny. I'd be selling 4.8 billion
dollars worth of stock people want to know why and where it's
going. Is he making a personal pivot?
Does he anticipate headwinds for Amazon was he simply
capitalizing on a favorable tax and marketing environment.
Now the reality could be a combination of all three but
when the world's second richest man moves billions out of the
company, he founded observers pay attention.
There's another detail here that matters.
Bezos adopted the trading plan on March, 4th a full month
before Amazon's q1 earnings report timing.
Ensures the sale. Complies with SEC rules,
governing insider trading under rule 10, B 51.
Executives can set up pre-arranged sales to avoid
accusations that their trading on material non-public
information. These plans are meant to instill
public confidence that such sales are routine and not
opportunistic. Now, the muted reaction to
Amazon's earnings suggests that, even big profits are not enough
to dispel anxiety about trade, friction, political
intervention, and global economic shifts and bassist
decision to sell more shares. Can amplify that anxiety, the
stock sales last year came during high points, in Amazon's
evaluation now. This year's announcement
arrives, amid growing volatility in a different tone in Amazon's
forward guidance. Now, what sets this round of
sales, apart from those in 2023 is the broader context in 2023,
the sales. Followed a market rebounded,
coincided with Bezos has moved to Florida.
This time. Amazon is facing renew tension
with the White House and structural uncertainties in its
supply chain. Where the tariffs will stick or
How Deeply they will affect, Amazon's cost structure remains
unclear, but Bezos making this move now suggests, he wants
flexibility and a potentially more turbulent business climate.
The sac filing didn't outline specific dates or mounts.
For each individual sale, simple lays out the maximum resales
shares and maybe sold by May 29th 2026.
Lack of a detail. Calendar is a market, May face
sporadic moves as a trades unfold.
Now, in the end bases, his plan to sell 4.8 billion dollars in
stocks. It's a move that he's making
that strategic, whether the signals Point per slam bishan
political calculation, or corporate uncertainty is
preparing for what comes next, he's doing it with his own
money. And his own terms.
Hey, thank you so much for listening today.
I really do appreciate your support.
If you could take a second and hit subscribe or the follow
button on whatever podcast platform that you're listening
on right now, I greatly appreciate it.
Helps out the show tremendously and you'll never miss an episode
and each episode is about 10 minutes or less to get you
caught up quickly and please if you want to support the show,
even more go to patreon.com slash stage zero and please take
care of yourselves and each other and I'll see you tomorrow.
Tesla, stock price. Fell nearly 25% in the first
four months of 2025 investors. Watching the slide wonder
whether the company has a plan. If its CEO, Elon Musk leaves or
Feast stays in keeps doing damage unless Wednesday.
The Wall Street Journal reported, the Tesla's board had
reached out to multiple executive search firms to start
building a short list of potential successors, and
according to the story, at least some test, the directors were
exploring how to replace Elon Musk on that Revelation lit.
A match under a question that's been quite quietly simmering for
years. What is Tesla without Elon Musk?
Now the report created immediate attention inside Tesla's
leadership hours after publication, Tesla board chair.
Robin Dunham posted a denial on X.
She said the journal was erroneously claiming the testis
board had contacted recruiters for a CEO search.
They said this is absolutely false.
Now, Dental added that this clarification had been sent to
the Press before the story even ran, but our statement left room
for interpretation. She denied action from the Tesla
board but not that any individual directors may have
reached out on their own. now, this ambiguity fuels and already
pressing concern, If Tesla's leadership hasn't begun,
considering what life looks like after musk, the Running Blind
into a critical future. Elon Musk is both Tesla's
greatest asset and its most unpredictable liability, the
Stock's performance still bullying, but his presence is
known. But increasingly, it's personal
behavior is dragging the company until vital territory.
A musk is shifted from Tech Mogul to political combatant.
It become a loud voice for Far, Right causes openly supporting
Donald. Trump publicly criticizing the
federal government in antagonizing Democratic
officials. The shift has turned off, many
of Tesla's most likely buyers liberal climate Focus consumers,
who prefer clean energy and efficient transport to
libertarian rhetoric. These political stunts have cost
Tesla. More than just Goodwill though.
They've hit the bottom line. Car sales are slowing, investors
are getting nervous and the people more responsible for
maintaining faith and Tesla's brand is too often making
headlines for everything, but the business and at a time when
EV Market is tightening, and competition is getting tougher,
and all the tariffs that are happening, Tesla is still
trading at a stock value in wildly out of sync with its
actual sales performance. And the core problem for Tesla's
board is that Elon Musk is the reason the company stock trades
at levels. Other automakers could only
dream of now, as of this week, test this price to earnings
ratio. However, is around 167 that's
more than 20 times which General Motors trades at now.
Musk has managed to sell the idea that Tesla isn't just a car
maker. It's an avatar for the future.
The illusion keeps the stock inflated and that illusion
depends entirely unmask continuing to project division,
people believe in. It's not new though.
For years ago, a business school Professor described Tesla to us
as the mother of all meme. Stocks, the stocks performance
is always relied more on musk's Cult of Personality than the
company's fundamentals. Tesla often behaves, more like a
social media phenomenon than a stable manufacturing business
and Retail investors treat musk like a prophet not just a CEO as
long as he stays loud and provocative, a portion of the
market stays loyal, but that loyalty has its limits when musk
bought Twitter in 2022 and turned it into a political and
cultural way to speak. His mind Tesla's shares took a
hit when he launched his Department of government
efficiency, the stock dropped. Again, public trust in musk is
an constant while his, depending on how extreme his latest move
is, when those wobbles turn into sharp downturns, Tesla pays the
price and so do its shareholders.
The dynamic is created a dangerous Loop for the board
though. Musk does something outrageous,
Tesla suffers, but if they push back the situation could have
gave him worse, they fire him, the stock would completely
crater, and if they try to Reign him in, he might walk away or
retaliate, No one on the board seems eager to challenge.
The one person who makes their company worth what it is.
At the same time, musk's personal Behavior.
Raises serious questions about his capacity to continue leading
the company for some people. His physical health is unclear.
He rarely sleep, and he has openly admitted to recreational
drug use. He has claimed without evidence
that he is the second, most targeted individual for
assassination after Donald Trump.
And at public events, he has appeared distracted or
disoriented. It's not a stable foundation for
a multi-billion dollar. Enterprise now Tesla's
financials tell one story, but musk's Antics, tell another over
the last year, test, the stock has generally trended upward
them, might seem like Vindication.
But the growth masks erratic tips, the kind of instability
that must bring us to the brand can't be priced in Forever.
At some point, the market may stop giving him the benefit of
the doubt. They can happen.
If his political integuments grow more toxic, or if the
public gets tired of his Acts, It was also the matter of
government oversight, when a trump White House and power musk
has enjoyed a regulatory leniency.
For instance, the administration recently rolled back crash
reporting requirements for autonomous vehicles.
A move that directly benefits Tesla.
But this favorable treatment might not last if Democrats take
back the house or when the presidency in 2028 they get just
decide to start investigating Tesla safety record or musk's
use of political power for private gain that possibility.
Alone should be enough for the board to consider succession
planning. It's not just politics.
That make a transition plan necessary, eventually musk will
leave one way or another. He might get bored and he might
move on and take all of his money with him.
And if Tesla doesn't have a plan in place for that moment, I
could face a crisis far more damaging than any single stock
drop. Now, the question of course, is
who could replace Elon Musk? Finding a new CEO isn't just
about business Acumen or leadership skills.
It's about Charisma. It's about who you are and how
you act Tesla, doesn't need a traditional executive, it needs
someone, who can keep that idea alive.
Someone who can maintain investor enthusiasm.
Even when car sales are flat or when profit margin sync, this
put the word in a difficult situation.
Standard executive search firms, may not be useful here
traditional CEO candidates are measured experience and
discipline. That's not actually, what keeps
Tesla stock inflated. The next leader has to be able
to generate Buzz to sell police to play the markets like a
showman. They need to be more like a
YouTube personality than a Fortune 500 veteran.
The board might be better off, looking at figures like Ryan
Cohen who led games stops memes. Stock Friendzy or Adam Aron of
AMC who wants appeared in a viral video in his underwear to
drive up investor morale, that was absurd ass.
As it might actually be closer to a Tesla needs to survive in
its current form. Even social media provocateurs,
like cat turd which is right-wing influencer, might
make more sense in this weird stock market reality than a
veteran from Ford. Now, that's the real challenge.
Tessa is created a structure. That depends on a person who
resists structure musk's unpredictability is the
foundation of the company's valuation planning for his
departure is like trying to blueprint a wildfire, that
Paradox has led the board to accommodate nearly every whim.
He has, had over the years, they've absorbed the risk
because the reward has always come The math might change if
musk continues to alienate one side.
If the government starts scrutinizing, his moves, if the
market turns on him more permanently, the company could
be left with no margin for error.
And with out someone ready to step in Tesla, may find itself,
Stumbling In The Dark Now, Tesla isn't just a company.
Isn't this Ford or Chevy or whatever?
So what are the most visible? American manufacturers, the past
decade help Define the electric vehicle movement and inspired a
wave of competitors. Now, if test the falters, the
effects won't be limited to shareholders, though.
We can Tesla could shift public perception of EVS themselves.
Delaying broader adaptation. I would also affects workers
both at Tesla and across its Supply.
Chains, thousands of jobs depend on the company's continued
success. They've musk's Behavior, starts
triggering bigger, Financial shocks.
Those jobs could disappear communities, that rely on tests
as factories would feel the blow and suppliers with these
business. Now, the damage wouldn't stay
contained. That's why the boards refusal to
be transparent about succession planning isn't just a question
about corporate drama. It's a potential economic risk
Tesla's, too large and two Central to the EV markets to be
led by someone who refused to share the wheel.
The board owes it to everyone involved.
To take that seriously. And to look around to this
feature depends on more than one man's Christmas in the board has
a responsibility to prepare for the day.
When that Charisma, no longer holds what happened to the two
trillion dollars in savings that Elon Musk.
Once promised to pull from the federal budget, like a rabbit
out of a hat. And where is the detail plant?
Where are the receipts? And why are Republicans
accelerating a tax overhaul with without waiting for the
supposedly enormous cuts, the Elon Musk swore would
materialize? Also, why is no one in
Washington? These questions out loud?
Are they talking about it? I'm back in the fall musk
captured headlines, with sweeping claims.
He had discovered a way to cut an almost unimaginable 2
trillion dollars in waste Fraud and Abuse from the federal
government. Now, that figure was not backed
by any detail, but budgetary work or itemized list.
But it was politically useful, you gave the Trump campaign, the
illusion of a balanced fiscal policy, aggressive tax cuts paid
for not by gutting, social programs, but by eliminating
inefficiencies later, the math didn't hold up.
Must revise is estimate down to one trillion dollars, but even
that wasn't viewed as realistic by budget analysts.
Despite the concerns musk held firm in interviews, he described
uncovering, massive fraud with social security benefits going
to the deceased. He claimed, and a wide array of
shady transactions involving non-profit groups.
His message was Dire. If these savings were not
realized soon the federal government risked going
bankrupt. now, the Trump Administration is going ahead
with tax cuts anyway, Treasurer, secretary Scott dissent has set
an ambitious deadline urging Congress to pass the new tax
legislation by July 4th. Two months away.
The Proposal carries a cost estimated at 500 billion dollars
per year and that's before factoring and additional
exemptions giveaways. Such as a plan to eliminate
taxes on tips, the administration is given no
indication that it plans to wait for musk's projected savings.
Before moving forward, these tax cuts are happening regardless of
whether or not any budgetary offset exists, there is no one
trillion dollars in hand, there's no final audit, there's
no finalized policy to reduce spending accordingly that raises
questions. The savings haven't been
realized in the spending cuts are nowhere in sight.
How does the government plan to pay for the tax cuts?
Short answer is it doesn't and what's taking shape is an
unfunded text cut. The federal debt will absorb the
cost at least for now or the next 10 years.
The price tag could exceed five trillion in according to
estimates from lawmakers, such as Senator Rand, Paul.
And Paul, who is one of the few Republicans voicing concerned
put it bluntly. Yes, weather.
Washington was serious about cutting spending or whether it
had quietly accepted ever-increasing debt.
It was simple though. There's no plan to pay for the
tax cuts. They will just add to the
deficit. Musk's plant to deliver a
trillion dollars and savings through Doge hasn't come close
to deliver it. On its website Doge claims to
have uncovered just 160 billion dollars in savings.
The numbers misleading, though, independent review by the BBC
found that only 62 billion dollars of those cuts are
actually itemized within that 33 billion have documented
receipts. That means he actual confirmed
savings maybe less than 3% of the trillion dollar figure, the
musk continues to promote. There's also a problem with how
these cuts are defined budget, experts point out that many of
the so called savings appear to be one time items like the sale
of government assets. A building sold for 10 million
dollars, can't be sold again next year.
It's not a reoccurring cut to annual spending.
It's a temporary boost in Revenue, presenting it as
ongoing saving misleads the public and Congress alike.
The route of the skepticism lies at a long history of similar
promises musk is far from the first person to suggest that
cutting waste Fraud and Abuse can balance the federal budget
and the 80s. David Stockman, who served as
Ronald Reagan's budget director made similar claims in his
Memoir the Triumph, the politics Stockman later admitted.
The cuts never came That's because the vast majority of
federal spending isn't discretionary, it goes to
programs like Social Security, Medicare Medicaid, military
spending and interest payments on the national debt.
This spending is hard to touch with without major political
consequences that makes any sweeping plan to cut 15% or more
of the budget has muscles suggested incredibly hard to
execute even if you eliminated. Every non-defense, discretionary
program is still wouldn't reach musk's Target.
Further, undermining musk credibility is the way his team
has used data, the government accountability officer the GAO
did Issue an estimate suggesting federal fraud May account for as
much as 5% total spending. Then number was never meant to
be definitive. It was presented as a rough
range, influence heavily by pandemic era, fraud in 2020.
And 2021 when emergency spending programs were rushed through
Congress. The GAO didn't endorse the claim
that have a trillion dollars is routinely stolen from the
federal budget. In fact is the agency's OWN
director told reporters that high-end estimate, reflects
outlier conditions. Now, in a more typical year, the
level of fraud is much lower, and even when fraud does occur,
it's difficult to recoup those losses without extensive
investigation and enforcement. There's another issue that
undermines must claims the federal government already has.
Dozens of oversight bodies and anti-fraud mechanisms in place.
There are 17 separate inspectors general for various departments.
There's also a strong whistleblower reward system.
Now last year alone, the federal government paid 400 million
dollars in whistleblower awards for help uncovering 2.4 billion
dollars in fraud. If a trillion dollars in fraud
was really sitting in plain sight, it's hard to imagine that
no one noticed it before Muslims to have uncovered, a fraud of
unprecedented scale but he has not produced.
Whistleblower testimony detailed reports or referrals to law
enforcement if whistleblowers really knew about fraud at that
level they could be entitled to tens or even hundreds of
billions of dollars in rewards yet.
No one has stepped forward. The contrast between mus Grant
claims and the underwhelming evidence, make this more than a
political sideshow. Speaks to a serious issue about
how public policy is for him to tax cuts and deficit spending,
have long term consequences, selling them with fictional.
Offsetting savings is a recipe for financial instability, and
for ordinary aromatic story matters, because it affects
national debt in Economic Security.
Tax cuts are passed without funding future Generations.
Could face the burden higher deficits often lead to higher
interest rates inflation or reduce spending on vital
programs. In the end voters will have to
pay for today's choices either through taxes or through reduced
Services. Moreover, the idea that
government waste is so massive. It could fund both tax cuts and
deficit reduction, gives people a false sense of security.
It diverts attention from the real fiscal challenges that the
country faces. So social programs like Medicare
and Social Security projected to face long-term funding.
Shortfalls Pretending those issues can be fixed by cutting.
Generic waste, doesn't help them at all.
People also need to understand how these kinds of narratives
affect policy making when lawmakers rely in exaggerated
claims. It creates an atmosphere where
transparency and realism are seen as optional.
That undermines trust in both government and private
institutions. So far, musk's team has offered
no credible evidence, that is proposed, savings are real, or
repeatable, they provided big numbers and vague stories.
That's not enough though. If the administration is going
to pass large tax cuts based on supposed budget savings, it owes
the public a full accurate accounting of where those
savings are and how they'll be realized Republican.
Leadership, isn't waiting for those answers though, they're
moving forward. Now, the sentence and others are
betting that, the political momentum for tax cuts is strong
enough to carry the plan over the Finish Line.
Even without musk's trillion, dollar cushion, the savings ever
do materialize. That'll just be a bonus.
It's not a requirement anymore, though.
The disconnect between campaign rhetoric and actual policy is
very glaring. Text Cuts were supposed to be
paid for by cleaning up the federal budget that clean up his
barely begun if it ever will. And instead, the cuts will be
funded to get old-fashioned way. With borrowed money.
In musk for his part continues to insist, he's on to something.
He's got it. He says the fraud is there.
He's fighting to see if the country from bankruptcy but he
has yet to deliver results on anything like the scale that he
promised and that's the story. The tax cuts are happening.
The spending cuts aren't in the two trillion dollar Miracle musk
promised. Its forgot.
The Trump Administration is moving ahead with expensive test
Cuts, without the savings that must promised.
And so far, this is no credible evidence that money has ever
existed. Let me know what you think about
this in the comments down below. Also give this video a like
thumbs up if you like this kind of content.
Take care yourself in each other.
And I'll see you in the next one.
In India has ordered X to block access to more than 8,000
accounts or face legal punishment for its local
employees. Now, X complied with the
directive, but called the action censorship noting that it
received little to no evidence or justification in most cases.
This incident comes amid growing India.
Pakistan tensions, following a deadly attack and Kashmir and
raises serious questions about how far governments can go in,
pressuring platforms, to restrict content X confirmed on
Thursday, that the Indian government issued multiple
executive orders demanding, it block thousands of user accounts
in India, the platforms Global government Affairs.
Team stated that India threatened significant fines and
imprisonment for the companies employees based in the country.
If it refused to imply, Well expertise cashmere killed 26.
People triggering renewed military friction between India
and Pakistan and the Indian government's response has
included digital censorship of accounts, tied to Pakistani
figures media and public figures.
Now, officials accused these accounts of sharing what they
termed as provocative or inflammatory content.
The Indian ministry of information and broadcasting
also took action against Pakistani content on YouTube
blocking. Over doesn't Channel since the
Kashmir incident, these included, major Pakistani news
outlets with wide followings. Now, the government said it
acted under National scrutiny laws or a security laws but did
not make specific posts public in its jurisdiction.
Now meta separately restricted, a major Muslim news page on
Instagram within India. The pages founder said the
removal, came at the government's request again with
little explanation, this signals that the censorship is extending
beyond x to other Global Tech companies operating in the
country. Now, exit is strongly disagreed
with the Indian orders but stated Ed, no realistic choice
but to follow them to protect its employees.
The company claimed, the move amounted to direct censorship of
both current and future content. It also emphasized that it had
received no clear legal explanation from many of the
accounts flagged. Now, exported out that several
cases the government failed to identify any individual posts
that violated Indian law. The company said, many of the
orders lacked supporting documentation or contacts.
Now, this lack of transparency has made a harder for the
platform. The challenge, the government's
actions under Indian law. Now the issue is especially
complex because of Elon musk's growing business ties in India.
Musk met with the Indian Prime Minister Modi in April to
discuss deeper, cooperation between his company is an Indian
tech. Sectors, Tesla is planning to
enter the Indian car market with showrooms, and Delhi, and
Mumbai, and starlink is a waiting regulatory approval to
launch satellite internet services in India.
This puts Elon Musk in a difficult situation.
And one hand ex claims to stand for free speech and open
internet. Access on the other hand musk
has business priorities in India, they require him to
maintaining working relationship with the Modi government.
These recent action raised a pressing question, can Global
Tech platforms maintain their principles while trying to
expand it to country as with strict information controls the
Indian government's approach in this case shows that it expects
platforms to comply with out, detail legal processes or
justification, the situation creates direct tension between
company policies and National regulations for users in India.
This means that because it limits the content, they can
access online based on opaque decisions for journalists and
human rights groups. The suppression of international
and Regional news sources. We can accountability Now, for
platform employees though, this introduces legal risk, tied to
decisions, they may have little power to change.
The Indian government's legal pressure on X May set a
precedent for future interactions with foreign tech
companies if the current pattern holds any, social media firm
that wants to do business in India, will have to accept the
possibility of orders to block content without detailed
jurisdiction. Now, the risk is that this
normalizes government control over what users in India are
allowed to see or say on line X is legal options in India.
Remain on clear, the platform has limited to appeal, executive
orders issued, under India's information laws.
Specially when National Security is cited.
Musk's companies may push for policy changes Beyond closed
doors but public challenges appear unlikely.
Now, the conflict between India's censorship orders and
musk's Global business plans will likely continue though the
Modi government wants tighter control over online narratives.
So special during moments of heightened, National tension.
Musk's platforms want to maintain their presence in one
of the world. Largest markets, but that
requires compliance within recently, rigid demands.
Hey, thank you so much for listening today.
I really do appreciate your support.
If you could take a second and hit this subscribe or the follow
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