Good morning, everybody, Happy Friday. We have a million and one stories to get through this morning, as per usual, Ryan and Emily, great to see you guys.

Good morning, everybody, Happy Friday. We have a million and one stories to get through this morning, as per usual, Ryan and Emily, great to see you guys.

Nice to see you, so a.

Nice to see you, so a.

Little bit of a rundown. Actually we're going to hopefully have a special guest courtesy of Ryan is bringing this Delaware legislator. Ryan, give people just a breakdown of, like really quick t LDR, what is going on in Delaware right now, because it's super crazy and connects directly to national politics as well.

Little bit of a rundown. Actually we're going to hopefully have a special guest courtesy of Ryan is bringing this Delaware legislator. Ryan, give people just a breakdown of, like really quick t LDR, what is going on in Delaware right now, because it's super crazy and connects directly to national politics as well.

Delaware is using a very rushed and unusual process to completely upend its corporate law in order to help out Elon Musk and Tesla and Mark Zuckerberg and Meta. And I don't just mean because they're connected to their companies. It's particular about giving CEOs you know, and heads of companies more power as it relates to their their shareholders and their independent boards. And that could come up on Tuesday. And so it's the you know, this multi billion dollar effort to try to bend this already parasitic and wildly corrupt blue state of Delaware even further to their corporate will.

Delaware is using a very rushed and unusual process to completely upend its corporate law in order to help out Elon Musk and Tesla and Mark Zuckerberg and Meta. And I don't just mean because they're connected to their companies. It's particular about giving CEOs you know, and heads of companies more power as it relates to their their shareholders and their independent boards. And that could come up on Tuesday. And so it's the you know, this multi billion dollar effort to try to bend this already parasitic and wildly corrupt blue state of Delaware even further to their corporate will.

Yeah, and the thing that really precipitated this is a Delaware court struck down Elon's Tesla compensation package supposed to be like fifty six billion dollars, which is more profit than the company has made in its entire existence, and they basically said, look, you have a conflict of interest here. The board is completely controlled by you. They're basically your puppets, Like, we are not going forward with this. And so this legislation, my understanding, is drafted actually by Elon's or Tesla's law firm.

Yeah, and the thing that really precipitated this is a Delaware court struck down Elon's Tesla compensation package supposed to be like fifty six billion dollars, which is more profit than the company has made in its entire existence, and they basically said, look, you have a conflict of interest here. The board is completely controlled by you. They're basically your puppets, Like, we are not going forward with this. And so this legislation, my understanding, is drafted actually by Elon's or Tesla's law firm.

Yeah, and then there's new information now that Meta lawyers were also involved in it, because there's this Delaware investigation of Meta for some of the Cambridge Analytica stuff, which involves shareholder complaints and then some other problems, and Zuckerberg has threatened to leave Delaware. Musk has left Delaware with Tesla, and so everybody thought it was primarily driven by Musk, but it also seems like Zuckerberg is playing a key role here, but.

Yeah, and then there's new information now that Meta lawyers were also involved in it, because there's this Delaware investigation of Meta for some of the Cambridge Analytica stuff, which involves shareholder complaints and then some other problems, and Zuckerberg has threatened to leave Delaware. Musk has left Delaware with Tesla, and so everybody thought it was primarily driven by Musk, but it also seems like Zuckerberg is playing a key role here, but.

Of a class interest at work. At work.

Of a class interest at work. At work.

Wilson Anton, Yeah, she'll be able to talk a little bit about The vote is scheduled for Tuesday, and it's not a sure thing that it'll pass, but they obviously you don't want to bet against the billionaires in Delaware.

Wilson Anton, Yeah, she'll be able to talk a little bit about The vote is scheduled for Tuesday, and it's not a sure thing that it'll pass, but they obviously you don't want to bet against the billionaires in Delaware.

Yeah, well, I mean, and part of what's interesting here is this is a democratic controlled state, so good example of the corporate union party potentially at work. But there's been a lot of outcry over it, so we'll see how it all goes down. I wanted to start. We've got other news about Tasla. We've got this crazy store about story about China. We're going to start with Bernie and AOC at a rally yesterday, actually several rallies yesterday, a huge turnout for them. We've got updates in terms of the Alien Enemies Act and court orders, et cetera. So try to get through all of that. But I wanted to start with this story. This is a wild one. So New York Times and Wall Street Journal are now reporting that Elon Musk was supposed to be reefed by the Pentagon on the US military's plan for any war that might break out with China. To two US officials. It indicated that was the case to the New York Times, Like I said, the Wall Street Journal ultimately confirmed. The White House is denying this, you know, quite vociferously, and Elon is lashing out at quote unquote leakers which you know, if they're leaking information, I don't know, maybe that indicates that is true. But obviously what's crazy about those guys is the fact that if it is true, which you know, I suspect it probably is, given you've got to relatively credible outlets reporting at this point. Elon has massive business interests in China. You know, Tesla, like US is this number one market. Number two market is China. They have a huge gigafactory there. He's had high level meetings with Chinese officials. It's a wild situation to have the world's richest man, a billionaire who has great such great business interest in China. He's also SpaceX's ax been banned from doing any work in China because of the national security implications of some of the things that he's into, and so for him to be read in on our you know, these are highly classified, top secret plans for if the ship hits the fan and the US coast war with China. What our plan would be and what we would do is ryan, to say the least, pretty wild thing to be happening here.

Yeah, well, I mean, and part of what's interesting here is this is a democratic controlled state, so good example of the corporate union party potentially at work. But there's been a lot of outcry over it, so we'll see how it all goes down. I wanted to start. We've got other news about Tasla. We've got this crazy store about story about China. We're going to start with Bernie and AOC at a rally yesterday, actually several rallies yesterday, a huge turnout for them. We've got updates in terms of the Alien Enemies Act and court orders, et cetera. So try to get through all of that. But I wanted to start with this story. This is a wild one. So New York Times and Wall Street Journal are now reporting that Elon Musk was supposed to be reefed by the Pentagon on the US military's plan for any war that might break out with China. To two US officials. It indicated that was the case to the New York Times, Like I said, the Wall Street Journal ultimately confirmed. The White House is denying this, you know, quite vociferously, and Elon is lashing out at quote unquote leakers which you know, if they're leaking information, I don't know, maybe that indicates that is true. But obviously what's crazy about those guys is the fact that if it is true, which you know, I suspect it probably is, given you've got to relatively credible outlets reporting at this point. Elon has massive business interests in China. You know, Tesla, like US is this number one market. Number two market is China. They have a huge gigafactory there. He's had high level meetings with Chinese officials. It's a wild situation to have the world's richest man, a billionaire who has great such great business interest in China. He's also SpaceX's ax been banned from doing any work in China because of the national security implications of some of the things that he's into, and so for him to be read in on our you know, these are highly classified, top secret plans for if the ship hits the fan and the US coast war with China. What our plan would be and what we would do is ryan, to say the least, pretty wild thing to be happening here.

You know, we've never had a situation like this before where somebody has had this deep of a financial link to China, intimately involved with you know the work of the president. What I don't quite understand and maybe Amily you have some insight into this, Well, why on earth does he need this briefing? Like assuming that it's true, Like is Elon Musk some like military strategist that is going to sit down with the generals and like look at their game their game plan and say, well, because what I know about starlink and you know, suggest that the way to actually do this is why I like, I've seen his thought process and the way he approaches things on Twitter, and I've never been like, that's what we need in the situation room. But maybe I'm just missing some of his genius.

You know, we've never had a situation like this before where somebody has had this deep of a financial link to China, intimately involved with you know the work of the president. What I don't quite understand and maybe Amily you have some insight into this, Well, why on earth does he need this briefing? Like assuming that it's true, Like is Elon Musk some like military strategist that is going to sit down with the generals and like look at their game their game plan and say, well, because what I know about starlink and you know, suggest that the way to actually do this is why I like, I've seen his thought process and the way he approaches things on Twitter, and I've never been like, that's what we need in the situation room. But maybe I'm just missing some of his genius.

I got nothing, guys. It's insane and it was entirely predictable. And Crystal, You're right, they're denying it vociferously, like Pete Hegsath, Jean Parnell, even Trump himself. They have all come out and so this is absolutely not true.

I got nothing, guys. It's insane and it was entirely predictable. And Crystal, You're right, they're denying it vociferously, like Pete Hegsath, Jean Parnell, even Trump himself. They have all come out and so this is absolutely not true.

Okay, good, there we go.

Okay, good, there we go.

But you know what, I don't even think maybe I'm being.

But you know what, I don't even think maybe I'm being.

Those are honest guys, right, they've never said the truth.

Those are honest guys, right, they've never said the truth.

And maybe maybe I'm being what's the right word for this I don't know, maybe naive, but I can't imagine that this would not be happening every day anyway like this. I don't know that this particular instance is as disturbing as the fact that Elon Musk's job. He's not the head of dog, he's not the head of what became doge at USDs. He is a White House advisor. That's an illegal filing. His White House advisors an advisor to the President of the United States. So I just don't I imagine things almost as disturbing as this are happening on a daily, if not hourly basis anyway. So it was always going to be that way. Someone has massive business interests in China. This is a white House that's in a state department and a Pentagon that's very focused on China. So anytime he's in meetings or speaking with people, I mean, his just by osmosis at very like, at the very least, biosmosis soaking up a lot of this.

And maybe maybe I'm being what's the right word for this I don't know, maybe naive, but I can't imagine that this would not be happening every day anyway like this. I don't know that this particular instance is as disturbing as the fact that Elon Musk's job. He's not the head of dog, he's not the head of what became doge at USDs. He is a White House advisor. That's an illegal filing. His White House advisors an advisor to the President of the United States. So I just don't I imagine things almost as disturbing as this are happening on a daily, if not hourly basis anyway. So it was always going to be that way. Someone has massive business interests in China. This is a white House that's in a state department and a Pentagon that's very focused on China. So anytime he's in meetings or speaking with people, I mean, his just by osmosis at very like, at the very least, biosmosis soaking up a lot of this.

Yeah. The Wall Street Journal has this explanation of why he's getting the briefing. To Ryan's point, it says, Musk, according to one person familiar with the arrangements, is receiving the briefing because he asked for one. He has a security clearance but isn't in the military chain of command or known to be a military advisor to Trump. Defense Secretary Pete Hegseth confirm US would visit the Pentagon on Friday. In a statement on x Hegseth disputed that he would receive a sensitive China briefing, saying it is an informal meeting about innovation, efficiencies and smarter production. But I guess you know that's the alleged answer is he's getting the briefing because he wanted to get the briefing.

Yeah. The Wall Street Journal has this explanation of why he's getting the briefing. To Ryan's point, it says, Musk, according to one person familiar with the arrangements, is receiving the briefing because he asked for one. He has a security clearance but isn't in the military chain of command or known to be a military advisor to Trump. Defense Secretary Pete Hegseth confirm US would visit the Pentagon on Friday. In a statement on x Hegseth disputed that he would receive a sensitive China briefing, saying it is an informal meeting about innovation, efficiencies and smarter production. But I guess you know that's the alleged answer is he's getting the briefing because he wanted to get the briefing.

And that seems to be confirmation that it actually is about, you know, potential war with China. What it sounds like what Musk asked to be briefed about is what is China's production capacity when it comes to you know, military capacity, and what is what is the US production capacity? Which are legitimate questions for anybody who cares about the US like fighting a war with China to ask, because it does appear like right now, if we actually did get in a war, we spent a trillion dollars a year on our military. Yet it doesn't seem like we can keep up with them when it comes to manufacturing capacity. Everybody fires off their stuff in a month month two. China is looking pretty good and we're not. We're not looking so good. So it seems like that's what Musk wants to talk about. And then that hexeth answer seems to suggest that that is what was going to be talked about.

And that seems to be confirmation that it actually is about, you know, potential war with China. What it sounds like what Musk asked to be briefed about is what is China's production capacity when it comes to you know, military capacity, and what is what is the US production capacity? Which are legitimate questions for anybody who cares about the US like fighting a war with China to ask, because it does appear like right now, if we actually did get in a war, we spent a trillion dollars a year on our military. Yet it doesn't seem like we can keep up with them when it comes to manufacturing capacity. Everybody fires off their stuff in a month month two. China is looking pretty good and we're not. We're not looking so good. So it seems like that's what Musk wants to talk about. And then that hexeth answer seems to suggest that that is what was going to be talked about.

That's what innovation is.

That's what innovation is.

Yeah, innovation production like that, Like what else could that be about? So doesn't Now, it doesn't mean that he was like being read in on where the subs are going to be and where the aircraft striker groups are going to be. So maybe that's where they're doing their furious denials because it's not that, but it still is. It's the more important part. We don't war with China.

Yeah, innovation production like that, Like what else could that be about? So doesn't Now, it doesn't mean that he was like being read in on where the subs are going to be and where the aircraft striker groups are going to be. So maybe that's where they're doing their furious denials because it's not that, but it still is. It's the more important part. We don't war with China.

We don't know, and there's no way for us, no other than their denials about where the line is allegedly. So, I mean, it's that's even at the best case scenario where you have this private tech baron coming into the government to make it more efficient, and he particularly is focused on cutting the Pentagon if he has business overseas China, Israel, Ukraine, Russia, whatever it is. It is an insane conflict of interest, there's no we're all aware of that at this point, and there's no check on what we are able to discern, Like, we have absolutely no way he's supposed to be filing waivers according to the DOJ Special Government Employee status. We don't know what he's what information he's receiving. We have no idea how that's influencing his business. There's absolutely no way that he's able to separate public and private. Mentally, if you're getting information because of your clearance and because of the fact that you now have you work in the White House, there's absolutely no way that that doesn't influence at some minimal level, in the best case scenario, the way that you're handling your business. So it is just insane. Of course, DOGE was always going to be a glaring conflict of interests and playbook read these VOCIFERUS denials from Hexeth and Parnell and Trump as some type of emission that there's a line for Elon. And that's interesting because I guess there's some truth that publicly, maybe there's shame. There's still a modicum of shame, right having like a tech baron come in and a defense contractor come in right. Granted, defense contractors have been determining the Pentagon budget for decades, but to have him come in as an actual government employee and making some of these calls like maybe they still have a modicum of shame about it. I don't know, I don't.

We don't know, and there's no way for us, no other than their denials about where the line is allegedly. So, I mean, it's that's even at the best case scenario where you have this private tech baron coming into the government to make it more efficient, and he particularly is focused on cutting the Pentagon if he has business overseas China, Israel, Ukraine, Russia, whatever it is. It is an insane conflict of interest, there's no we're all aware of that at this point, and there's no check on what we are able to discern, Like, we have absolutely no way he's supposed to be filing waivers according to the DOJ Special Government Employee status. We don't know what he's what information he's receiving. We have no idea how that's influencing his business. There's absolutely no way that he's able to separate public and private. Mentally, if you're getting information because of your clearance and because of the fact that you now have you work in the White House, there's absolutely no way that that doesn't influence at some minimal level, in the best case scenario, the way that you're handling your business. So it is just insane. Of course, DOGE was always going to be a glaring conflict of interests and playbook read these VOCIFERUS denials from Hexeth and Parnell and Trump as some type of emission that there's a line for Elon. And that's interesting because I guess there's some truth that publicly, maybe there's shame. There's still a modicum of shame, right having like a tech baron come in and a defense contractor come in right. Granted, defense contractors have been determining the Pentagon budget for decades, but to have him come in as an actual government employee and making some of these calls like maybe they still have a modicum of shame about it. I don't know, I don't.

Yeah, that's a that's a good point. At least they didn't say, so what if we gave them more China China war plans?

Yeah, that's a that's a good point. At least they didn't say, so what if we gave them more China China war plans?

Yeah, which was a possibility that they would. You know, like, these liberals are melting down over you just giving Elon Musk, who's just a brave patriot sacrificing himself for the public good these war plans. But I think, Emily, to your point, like it just brings home how insane the whole situation is, how insane the entire situation is. This man is one of He's not just a Pentagon contractor, he's one of the larger Pentagon contractors. And to be honest, Doge hasn't really touched the Pentagon at all, which is interesting and telling in and of itself, given that, you know, if you actually wanted to cut out waste for an abuse, that would probably be the first place that you would really dive into But you know, we know from reporting about what he's done at the FAA, he's tried to just sort of you know, kneecap his competitors there with regard to Starlink and shift contracts to him. We know there's been an effort to shift some of the rural broadband funding to Starlink, and you know there may be a like actual case for these things, like starlink is a good product. You know, it works well and it's been good for me out here in rural Virginia before we got broadband out here, et cetera. But to just be able to go in and himself and his lackeys be like, we're taking that money. You're not getting it anymore. You're fired, you're hired. Here's how we're doing things. We're hoovering up your data, etc. When you have this sort of a news item, you know, hit the front page, it just really brings home like this whole thing is crazy, absolutely crazy. So Emily, I'm curious, you know, this just came out yesterday evening. What is the reaction from the right bin thus far? Or do they believe the denials? Is it uncomfortable for them? Has there been a backlash, like, have you seen what the general sort of vibe and approach has been.

Yeah, which was a possibility that they would. You know, like, these liberals are melting down over you just giving Elon Musk, who's just a brave patriot sacrificing himself for the public good these war plans. But I think, Emily, to your point, like it just brings home how insane the whole situation is, how insane the entire situation is. This man is one of He's not just a Pentagon contractor, he's one of the larger Pentagon contractors. And to be honest, Doge hasn't really touched the Pentagon at all, which is interesting and telling in and of itself, given that, you know, if you actually wanted to cut out waste for an abuse, that would probably be the first place that you would really dive into But you know, we know from reporting about what he's done at the FAA, he's tried to just sort of you know, kneecap his competitors there with regard to Starlink and shift contracts to him. We know there's been an effort to shift some of the rural broadband funding to Starlink, and you know there may be a like actual case for these things, like starlink is a good product. You know, it works well and it's been good for me out here in rural Virginia before we got broadband out here, et cetera. But to just be able to go in and himself and his lackeys be like, we're taking that money. You're not getting it anymore. You're fired, you're hired. Here's how we're doing things. We're hoovering up your data, etc. When you have this sort of a news item, you know, hit the front page, it just really brings home like this whole thing is crazy, absolutely crazy. So Emily, I'm curious, you know, this just came out yesterday evening. What is the reaction from the right bin thus far? Or do they believe the denials? Is it uncomfortable for them? Has there been a backlash, like, have you seen what the general sort of vibe and approach has been.

I think it's been. I don't think any of this changed anything of the right. I think people are have sort of made their peace with the Elon of it all that you don't have DOGE without Elon, and you don't have Doge without Trump and in order to and you don't have like massive cuts without DOCH. So you know, it's it's the simple, I guess, reconciling with this insanity. And again, like I said earlier, it's not as though I think this is what makes it easier for people on the right to swallow, is that it's not as though we haven't had essentially defense contractors and private enterprise, well public private enterprise determining what the Pentagon budget is for a really long time. So it's sort of like, Okay, so this guy says he wants to do some good. You know, he's actually in this for you know, not just for himself, but for you know, the country, and he actually wants to make cuts and et cetera. I think that's how it's continuing to be rationalized, because you know, it's true it has the Pentagon has been rated by defense contractors for decades and to Ryan's point, in ways that leave us less safe arguably. So I mean that is what allows it to be sort of justified in the minds of a lot of people on the right. And I don't think anything is necessarily going to change that at this point unless Trump makes some break with Elon, or unless Elon again the h one B like dust up. I think he has learned from that, and so that's those are the only sorts of thing like when he is sort of explicitly subverting MAGA, or you're trying to hijack MAGA, which I think he's probably doing every day, to be honest with you, Although Trump is Mega is what Trump says it is, and Trump says Elon is great, so maybe Elon is truly Mega.

I think it's been. I don't think any of this changed anything of the right. I think people are have sort of made their peace with the Elon of it all that you don't have DOGE without Elon, and you don't have Doge without Trump and in order to and you don't have like massive cuts without DOCH. So you know, it's it's the simple, I guess, reconciling with this insanity. And again, like I said earlier, it's not as though I think this is what makes it easier for people on the right to swallow, is that it's not as though we haven't had essentially defense contractors and private enterprise, well public private enterprise determining what the Pentagon budget is for a really long time. So it's sort of like, Okay, so this guy says he wants to do some good. You know, he's actually in this for you know, not just for himself, but for you know, the country, and he actually wants to make cuts and et cetera. I think that's how it's continuing to be rationalized, because you know, it's true it has the Pentagon has been rated by defense contractors for decades and to Ryan's point, in ways that leave us less safe arguably. So I mean that is what allows it to be sort of justified in the minds of a lot of people on the right. And I don't think anything is necessarily going to change that at this point unless Trump makes some break with Elon, or unless Elon again the h one B like dust up. I think he has learned from that, and so that's those are the only sorts of thing like when he is sort of explicitly subverting MAGA, or you're trying to hijack MAGA, which I think he's probably doing every day, to be honest with you, Although Trump is Mega is what Trump says it is, and Trump says Elon is great, so maybe Elon is truly Mega.

But yeah, Trump says Elon's right about h one B's so that's right, you know, So yeah, it is, uh, it is Mega, it is. I guess it's dark Maga. Now the Elon version of Mega, which is quite a different flavor. There's a bunch of Elon news. Let's just roll to the next thing. He's got continues to have some major issues over at Tesla They have now recalled more or less every single cyber truck after this glued stainless steel trim apparently can fall off. I'd actually seen some complaints about this before this recall occurred. One hundred and fifty one cyber truck owners had filed warranty claims after noticing this roof trim panel above the windows was coming loose. It's this panel that goes right along. You can see actually here this part here, and it's just glued on. And sometimes it says it's vulnerable to environmental imbrittlement, meaning it doesn't hold up as well as it should. And if this thing, you know, you're driving down the highway and this piece comes flying off at some other car, needless to say, that is quite a risk. And obviously, Ryan this comes at a time when Tesla is I mean, it's the most visible symbol of Elon, and sales have been plummeting globally. Right here Europe, they've fallen off a cliff. Canada they are down like sixty seven percent, they're down in China. You not only have the primary driver, I think is Elon just being such a you know, polarizing and toxic figure at this point, but you also have a stale product line. You also have incredible competition come from China. We just covered this week byd D now has a battery that can charge three hundred miles in five minutes, which is just like, you know, game changing level of technology. So the stock has been falling. Trump has been selling them in the White House lawn. Sean Hannity's doing his part. The Commerce Secretary Howard Lunnik is out there telling people to buy the stock. Ete Actually, funnily enough, the stock then went down further after he said that. But you know, this is not a not a great moment for Elon to have this particular problem with the cyber truck.

But yeah, Trump says Elon's right about h one B's so that's right, you know, So yeah, it is, uh, it is Mega, it is. I guess it's dark Maga. Now the Elon version of Mega, which is quite a different flavor. There's a bunch of Elon news. Let's just roll to the next thing. He's got continues to have some major issues over at Tesla They have now recalled more or less every single cyber truck after this glued stainless steel trim apparently can fall off. I'd actually seen some complaints about this before this recall occurred. One hundred and fifty one cyber truck owners had filed warranty claims after noticing this roof trim panel above the windows was coming loose. It's this panel that goes right along. You can see actually here this part here, and it's just glued on. And sometimes it says it's vulnerable to environmental imbrittlement, meaning it doesn't hold up as well as it should. And if this thing, you know, you're driving down the highway and this piece comes flying off at some other car, needless to say, that is quite a risk. And obviously, Ryan this comes at a time when Tesla is I mean, it's the most visible symbol of Elon, and sales have been plummeting globally. Right here Europe, they've fallen off a cliff. Canada they are down like sixty seven percent, they're down in China. You not only have the primary driver, I think is Elon just being such a you know, polarizing and toxic figure at this point, but you also have a stale product line. You also have incredible competition come from China. We just covered this week byd D now has a battery that can charge three hundred miles in five minutes, which is just like, you know, game changing level of technology. So the stock has been falling. Trump has been selling them in the White House lawn. Sean Hannity's doing his part. The Commerce Secretary Howard Lunnik is out there telling people to buy the stock. Ete Actually, funnily enough, the stock then went down further after he said that. But you know, this is not a not a great moment for Elon to have this particular problem with the cyber truck.

It's a really peculiar strategy. You know, from a business perspective, the buyers of electric vehicles have consistently been people who are kind of on the center left and have concerned about climate change and their their impact on the environment. So to me, it would sort of be like if the CEO of like Smith and Wesson went and joined the Kamala Harris administration.

It's a really peculiar strategy. You know, from a business perspective, the buyers of electric vehicles have consistently been people who are kind of on the center left and have concerned about climate change and their their impact on the environment. So to me, it would sort of be like if the CEO of like Smith and Wesson went and joined the Kamala Harris administration.

And Rachel Maddow's posing with the Smith and Wesson.

And Rachel Maddow's posing with the Smith and Wesson.

And kept posing with Rachel Matte and talking about how the NRA is a giant scam and corruption and all Republicans are corrupt, and just like having this really like presenting this like really vitriolic worldview and calling all Republicans and anybody who supports Trump, you know, traders to the country and fascists, and and then suggesting that, you know, maybe they should be jailed. Let their news outlets and their news anchors should actually be imprisoned. And then China makes a whole bunch of better guns and you watch the sales of Smith and West and collapse, like, gee, what's.

And kept posing with Rachel Matte and talking about how the NRA is a giant scam and corruption and all Republicans are corrupt, and just like having this really like presenting this like really vitriolic worldview and calling all Republicans and anybody who supports Trump, you know, traders to the country and fascists, and and then suggesting that, you know, maybe they should be jailed. Let their news outlets and their news anchors should actually be imprisoned. And then China makes a whole bunch of better guns and you watch the sales of Smith and West and collapse, like, gee, what's.

Going on happened?

Going on happened?

Why do they hate us so much? They're so filled with hate. We just make a nice product to shoot straight. If you don't like it, you don't like it, you don't have to burn it down. So yeah, so I it's se cure, like I said, bold strategy to just constantly insult and call your customer based traders. And I guess we'll see how that works out for them.

Why do they hate us so much? They're so filled with hate. We just make a nice product to shoot straight. If you don't like it, you don't like it, you don't have to burn it down. So yeah, so I it's se cure, like I said, bold strategy to just constantly insult and call your customer based traders. And I guess we'll see how that works out for them.

Well, I think we have Representative Medina Wilson Anton standing by to give us an update on this Delaware bill that Ryan was talking about before. Let me go ahead and let her in and we can get to that interview. Oh excellent, representative. Great to have you.

Well, I think we have Representative Medina Wilson Anton standing by to give us an update on this Delaware bill that Ryan was talking about before. Let me go ahead and let her in and we can get to that interview. Oh excellent, representative. Great to have you.

Hey, thanks for having me.

Hey, thanks for having me.

Yeah, of course. So Ryan set this up a little bit about what's going on in Delaware, how this connects to Elon Musk, Mark Zuckerberg, et cetera. But you know, as a legislator there, we'd love to hear your perspective of what this bill does and why it's become such a lightning rod.

Yeah, of course. So Ryan set this up a little bit about what's going on in Delaware, how this connects to Elon Musk, Mark Zuckerberg, et cetera. But you know, as a legislator there, we'd love to hear your perspective of what this bill does and why it's become such a lightning rod.

Sure.

Sure.

So I'll say the premise for all of us as legislators is we're trying to make sure that our state's budget is solid, right, And I'm not sure how much you guys know about Delaware's budget, but a large.

So I'll say the premise for all of us as legislators is we're trying to make sure that our state's budget is solid, right, And I'm not sure how much you guys know about Delaware's budget, but a large.

Part of it comes from the corporate franchise. So what we've been.

Part of it comes from the corporate franchise. So what we've been.

Told a billion a year or something.

Told a billion a year or something.

Yeah, yeah, and it's like one point three. But if you if you look at other kind of ways that it also impacts. Some folks are saying it's almost half of our budget, and so it's a really important part of what keith Delaware going. And so the arguments that we've been told is basically, there's these companies that want to leave, and for each company that leaves.

Yeah, yeah, and it's like one point three. But if you if you look at other kind of ways that it also impacts. Some folks are saying it's almost half of our budget, and so it's a really important part of what keith Delaware going. And so the arguments that we've been told is basically, there's these companies that want to leave, and for each company that leaves.

It's a quarter million dollars.

It's a quarter million dollars.

You guys know, we're looking at a federal government that's likely to cut a lot of funding that's coming to our state. So we're really not, you know, looking to lose funding. What concerns me is the folks that we're supposed to look to as knowing whether this is how to save the franchise, which is basically what we're told we're doing, are from a very small minority. So we have like two million corporate entities here in the state. Of those two million, about three thousand of them are the ones that are really making our budget, and less than three hundred are controlled companies. And you know, the only folks that I'm hearing.

You guys know, we're looking at a federal government that's likely to cut a lot of funding that's coming to our state. So we're really not, you know, looking to lose funding. What concerns me is the folks that we're supposed to look to as knowing whether this is how to save the franchise, which is basically what we're told we're doing, are from a very small minority. So we have like two million corporate entities here in the state. Of those two million, about three thousand of them are the ones that are really making our budget, and less than three hundred are controlled companies. And you know, the only folks that I'm hearing.

Work a controlled company for people who are.

Work a controlled company for people who are.

So companies that have someone like Elon Musk or Mark Zuckerberg, that's that's calling the shot. But even of that of that subset, a lot of the time, the dynamic is such that the controller is not the one with the power in the dynamic.

So companies that have someone like Elon Musk or Mark Zuckerberg, that's that's calling the shot. But even of that of that subset, a lot of the time, the dynamic is such that the controller is not the one with the power in the dynamic.

It's the board.

It's the board.

And so the controllers going to the board like, hey, I want to make these you know decisions, Can I get some more money?

And so the controllers going to the board like, hey, I want to make these you know decisions, Can I get some more money?

Can we talk about different ideas?

Can we talk about different ideas?

These like charismatic controllers like Elon, Mark Zuckerberg and others really represent a very small minority of those companies. So what concerns me as someone who's looking at like these numbers here is of those three thousand companies and we're talking about now two hundred to three hundred companies, a minority of that subset, right, are folks like Elon who want to just be able to run rough shot over shareholders, minority shareholders. And I look at that and I'm like, you know, why would I alienate the majority of my customers for a select few when they're all paying a quarter million right just because Tesla's huge, they're capped at the same amount as any other company that in that bracket. So it's been really confusing. It's you know, I'm not a corporate lawyer. This is not my bread and butter. It's been a really difficult bill to try to wrap our heads around, and it feels like it's being pushed very quickly because they want to basically save Zuckerberg billions in court fees, like and.

These like charismatic controllers like Elon, Mark Zuckerberg and others really represent a very small minority of those companies. So what concerns me as someone who's looking at like these numbers here is of those three thousand companies and we're talking about now two hundred to three hundred companies, a minority of that subset, right, are folks like Elon who want to just be able to run rough shot over shareholders, minority shareholders. And I look at that and I'm like, you know, why would I alienate the majority of my customers for a select few when they're all paying a quarter million right just because Tesla's huge, they're capped at the same amount as any other company that in that bracket. So it's been really confusing. It's you know, I'm not a corporate lawyer. This is not my bread and butter. It's been a really difficult bill to try to wrap our heads around, and it feels like it's being pushed very quickly because they want to basically save Zuckerberg billions in court fees, like and.

That's like, it's crazy.

That's like, it's crazy.

Like I'm looking at the national news as someone from Delaware watching Elon attack our judges, watching like this attack on our democracy, and then seeing it happen here, and I'm like, wait, wait, wait what We're Democrats, why are we doing the same thing here?

Like I'm looking at the national news as someone from Delaware watching Elon attack our judges, watching like this attack on our democracy, and then seeing it happen here, and I'm like, wait, wait, wait what We're Democrats, why are we doing the same thing here?

This is it's really scary.

This is it's really scary.

There's there seems to be another interesting layer to the conflict of interest here. I'm curious if it's if this is kind of in the back of legislator's minds, so it's not just that Elon Muskin Mark Zuckerberg, you know, can threaten to leave and take with them. I didn't realize it was only two hundred and fifty thousand dollars. It's like, that's that's not that much, you know in this scheme of your budget, like okay, Mark Zuckerberg, goodbye, will do a go fund me? And or you could, you know, do it do a half sent sales tax. Dellar has no sales tax. But I know you'd probably get thrown out of office if you even you know, suggested.

There's there seems to be another interesting layer to the conflict of interest here. I'm curious if it's if this is kind of in the back of legislator's minds, so it's not just that Elon Muskin Mark Zuckerberg, you know, can threaten to leave and take with them. I didn't realize it was only two hundred and fifty thousand dollars. It's like, that's that's not that much, you know in this scheme of your budget, like okay, Mark Zuckerberg, goodbye, will do a go fund me? And or you could, you know, do it do a half sent sales tax. Dellar has no sales tax. But I know you'd probably get thrown out of office if you even you know, suggested.

You're not going to get me to.

You're not going to get me to.

What do you do?

What do you do?

It's regressive? You know, good? It fine.

It's regressive? You know, good? It fine.

But the other layer of the conflict of interest is that Elon Musk is also a White House advisor. And you pointed out that you know, your budget is linked to you know, federal support for states and which can be throttled up or down, you know, to you know, to the degree that a president is satisfied with how a state is operating, so that it's not just the two hundred fifty ky like Elon Musk could actually be like Zuckerberg isn't a government employee, but he's close with Trump. So is that this in the back of lawmakers minds, Like, Okay, it's we're not that worried about this two hundred and fifty thousand dollars that we'll lose if Facebook leaves, But what we're worried about is retribution from the federal government. Absolutely, we better just give them what they want.

But the other layer of the conflict of interest is that Elon Musk is also a White House advisor. And you pointed out that you know, your budget is linked to you know, federal support for states and which can be throttled up or down, you know, to you know, to the degree that a president is satisfied with how a state is operating, so that it's not just the two hundred fifty ky like Elon Musk could actually be like Zuckerberg isn't a government employee, but he's close with Trump. So is that this in the back of lawmakers minds, Like, Okay, it's we're not that worried about this two hundred and fifty thousand dollars that we'll lose if Facebook leaves, But what we're worried about is retribution from the federal government. Absolutely, we better just give them what they want.

Absolutely, Yeah, I can say one hundred percent that that's in folks minds. What I would argue is we're already.

Absolutely, Yeah, I can say one hundred percent that that's in folks minds. What I would argue is we're already.

On the list.

On the list.

You know, it's not just California, Like, we're already on the list. You can you can type into x I still call it Twitter, but you can type into.

You know, it's not just California, Like, we're already on the list. You can you can type into x I still call it Twitter, but you can type into.

The search bar.

The search bar.

You know, Elon Musk Delaware and find tons of tweets. He does not like our state. He thinks our judges are woke active as judges, which I'll just say as a as a leftist Delaware a quarter of Chancerie, not a bastion of left but I guess, but like he doesn't like Delaware, They're not We're not on their list of states that it's going to do well. Right, We're going to be struggling regardless of whether this bill passes. What worries me is one, it's not just the Elons and you know Zuckerberg, it's lots of other folks that will benefit from this, that want to go to other states like Nevada, like Texas, And I feel like if we're racing to the bottom for those folks, we are alienating really like the majority of our customers, which is the term that they use, and it's like kind of makes my stomach hurt, but our customers, right, Like the majority of those folks do not support this legislation. And we've heard from like tons of pension funds. We heard from the largest pension fund in California last week, like they're very worried about this legislation and how it's going to impact minority shareholders pensioners, Like why would we alienate them when we're we're never gonna Like I just keep saying, like we got to stop simping for billionaires, like they're never going to come back, they're never going to like us, so at least go after folks that maybe we'll continue to stay here. And you know, it's it's often talked about that people come to Delaware because it's like this offshore place where there's no rules and whatever. But what really brings companies to Delaware is the fact that our Court of Chancery has been a mainstay for over like a century. Like it's one of the oldest courts in the world, and so there's a lot of precedent, and so lawyers they encourage companies to incorporate here because they know what they're getting into. And what scares me as a Delaware legislator is passing a bill like this that is obviously written to benefit a rich few. It really attacks that reputation and it makes it seem like Delaware is a state now where our laws are written by the highest bidder.

You know, Elon Musk Delaware and find tons of tweets. He does not like our state. He thinks our judges are woke active as judges, which I'll just say as a as a leftist Delaware a quarter of Chancerie, not a bastion of left but I guess, but like he doesn't like Delaware, They're not We're not on their list of states that it's going to do well. Right, We're going to be struggling regardless of whether this bill passes. What worries me is one, it's not just the Elons and you know Zuckerberg, it's lots of other folks that will benefit from this, that want to go to other states like Nevada, like Texas, And I feel like if we're racing to the bottom for those folks, we are alienating really like the majority of our customers, which is the term that they use, and it's like kind of makes my stomach hurt, but our customers, right, Like the majority of those folks do not support this legislation. And we've heard from like tons of pension funds. We heard from the largest pension fund in California last week, like they're very worried about this legislation and how it's going to impact minority shareholders pensioners, Like why would we alienate them when we're we're never gonna Like I just keep saying, like we got to stop simping for billionaires, like they're never going to come back, they're never going to like us, so at least go after folks that maybe we'll continue to stay here. And you know, it's it's often talked about that people come to Delaware because it's like this offshore place where there's no rules and whatever. But what really brings companies to Delaware is the fact that our Court of Chancery has been a mainstay for over like a century. Like it's one of the oldest courts in the world, and so there's a lot of precedent, and so lawyers they encourage companies to incorporate here because they know what they're getting into. And what scares me as a Delaware legislator is passing a bill like this that is obviously written to benefit a rich few. It really attacks that reputation and it makes it seem like Delaware is a state now where our laws are written by the highest bidder.

And how are your constituents reacting to this?

And how are your constituents reacting to this?

Oh, my god, have you ever heard of a didas attack?

Oh, my god, have you ever heard of a didas attack?

My email inbox is unusable because I've gotten so many emails from constituents that are talking about now like I believed something I don't evenmber what I posted on Instagram and I had constituents in the comments like yeah, yeah, yeah, but what are you doing about SB twenty one? I emailed you and you didn't respond, and so I made a can but put it on and I'm like, this is this is my position, guys, Like I can't respond to everyone because I literally can't use my inbox. I got a like a a notification from Outlook that was like, you got too many emails at once, so we just shut it down.

My email inbox is unusable because I've gotten so many emails from constituents that are talking about now like I believed something I don't evenmber what I posted on Instagram and I had constituents in the comments like yeah, yeah, yeah, but what are you doing about SB twenty one? I emailed you and you didn't respond, and so I made a can but put it on and I'm like, this is this is my position, guys, Like I can't respond to everyone because I literally can't use my inbox. I got a like a a notification from Outlook that was like, you got too many emails at once, so we just shut it down.

This doesn't seem right.

This doesn't seem right.

And you represent how many people?

And you represent how many people?

About twenty six thousand Delawarians, right, yeah, and we're in a state.

About twenty six thousand Delawarians, right, yeah, and we're in a state.

Of you only have twenty six thousand constituents and you're hearing from how many of those are constituents and how many of those are people who are just getting worked up from out of state.

Of you only have twenty six thousand constituents and you're hearing from how many of those are constituents and how many of those are people who are just getting worked up from out of state.

Honestly, Ryan, I didn't click through all two thousand and take the address included, Like, but I know, I know basically all of us have gotten about that many emails, so and I haven't heard from anyone saying to support it. The only constituent of mine. This is a little joke, but it's true. The only constituent of mine. Who supports the bill that I'm aware of is the senator who introduced it.

Honestly, Ryan, I didn't click through all two thousand and take the address included, Like, but I know, I know basically all of us have gotten about that many emails, so and I haven't heard from anyone saying to support it. The only constituent of mine. This is a little joke, but it's true. The only constituent of mine. Who supports the bill that I'm aware of is the senator who introduced it.

Wow, So now it was they had thought about putting it up yesterday. Sounds like because of the public pressure that's gonna happen. We're looking at Tuesday. My understanding is it needs two thirds to pass. So like where are you in your support for building opposition? Like how many numbers do you have and how many more do you need?

Wow, So now it was they had thought about putting it up yesterday. Sounds like because of the public pressure that's gonna happen. We're looking at Tuesday. My understanding is it needs two thirds to pass. So like where are you in your support for building opposition? Like how many numbers do you have and how many more do you need?

Yeah, I don't know, honestly, Like.

Yeah, I don't know, honestly, Like.

One of the things like it's it's not my bill, so I'm not like whip counting for it. I'm just trying to do my thing, Like I had some other bills that were pretty controversial and committee this week that I was focused on. I think my you know, I've been here now is my fifth year. Every year we do a bill like this. This is like the most egregious. But every year there's a bill like this that gets pushed through and there's often not much time to actually push back to it, and so I was really surprised that it wasn't on the floor agenda yesterday. And the only reason that I can think of is because they don't have the votes that they need.

One of the things like it's it's not my bill, so I'm not like whip counting for it. I'm just trying to do my thing, Like I had some other bills that were pretty controversial and committee this week that I was focused on. I think my you know, I've been here now is my fifth year. Every year we do a bill like this. This is like the most egregious. But every year there's a bill like this that gets pushed through and there's often not much time to actually push back to it, and so I was really surprised that it wasn't on the floor agenda yesterday. And the only reason that I can think of is because they don't have the votes that they need.

It's a two thirds. It has a two thirds threshold, so we need fourteen people to say no or not show up, and I think we're pretty close.

It's a two thirds. It has a two thirds threshold, so we need fourteen people to say no or not show up, and I think we're pretty close.

Otherwise we would have already passed this bill and someone would have already cut the ribbon on it for Zuckerberg and you know, probably had some fun on a yacht or something.

Otherwise we would have already passed this bill and someone would have already cut the ribbon on it for Zuckerberg and you know, probably had some fun on a yacht or something.

Yeah, I mean, that's one of the things I've been I'm trying to educate myself the ins and outs of this legislation. Like you said, it's fairly complicated. But not only would it help to enable Elon to get his fifty six billion dollars in compensation that had previously been blocked by a court, not only would help Zuckerberg and Meto with what they're trying to do, But can you just briefly explain that the piece about why this would also harm the ability of minority shareholders to be able to exercise influence within the company, because I think that's an important part too that sometimes under discussed with the you know, the musk is the big sort of like flashing redline here.

Yeah, I mean, that's one of the things I've been I'm trying to educate myself the ins and outs of this legislation. Like you said, it's fairly complicated. But not only would it help to enable Elon to get his fifty six billion dollars in compensation that had previously been blocked by a court, not only would help Zuckerberg and Meto with what they're trying to do, But can you just briefly explain that the piece about why this would also harm the ability of minority shareholders to be able to exercise influence within the company, because I think that's an important part too that sometimes under discussed with the you know, the musk is the big sort of like flashing redline here.

Yeah, yeah, So like so for the example, the Zuckerberg example, for example, right, like the reason why that would get thrown out has to do with books and records. And what we've heard is controllers are really frustrated because they feel like every you know, every waking moment, someone's coming that has like five shares in a company, and they're like, I want to see all the emails about this exchange, Like I want to know whether you're you know, whether this transaction was fair to us, And you know, when I meet with them, I've met with everyone, like I can I can see how it's frustrating, you know, to have to stop and pay someone to go through and within five days send all the emails and all the.

Yeah, yeah, So like so for the example, the Zuckerberg example, for example, right, like the reason why that would get thrown out has to do with books and records. And what we've heard is controllers are really frustrated because they feel like every you know, every waking moment, someone's coming that has like five shares in a company, and they're like, I want to see all the emails about this exchange, Like I want to know whether you're you know, whether this transaction was fair to us, And you know, when I meet with them, I've met with everyone, like I can I can see how it's frustrating, you know, to have to stop and pay someone to go through and within five days send all the emails and all the.

Text messages and all that.

Text messages and all that.

But what they're saying is that this is a problem that's like over the past ten five years. We want to go back like ten years to when people weren't texting and when they weren't emailing. And then when I look at the facts of the case with like Elon's.

But what they're saying is that this is a problem that's like over the past ten five years. We want to go back like ten years to when people weren't texting and when they weren't emailing. And then when I look at the facts of the case with like Elon's.

Compensation package where.

Compensation package where.

The director who was who was part of the conversation is like Bestie's with him, Elon says under oath on the record that there was no one to negotiate.

The director who was who was part of the conversation is like Bestie's with him, Elon says under oath on the record that there was no one to negotiate.

Against, so he negotiated against himself, right.

Against, so he negotiated against himself, right.

Like clearly, clearly the minority shareholders were not you know, party to that conversation, and then you know that goes through say, say it stays at fifty six billion dollars. Right if you were a testa shareholder right now watching what Elon is doing to the value of your shares, is he really worth fifty six billion dollars? Like imagine if that had not gotten overturned. Like it's like, it's it's really hard for me to even process people making this argument, but they're like, well, people voted for it.

Like clearly, clearly the minority shareholders were not you know, party to that conversation, and then you know that goes through say, say it stays at fifty six billion dollars. Right if you were a testa shareholder right now watching what Elon is doing to the value of your shares, is he really worth fifty six billion dollars? Like imagine if that had not gotten overturned. Like it's like, it's it's really hard for me to even process people making this argument, but they're like, well, people voted for it.

People voted for it.

People voted for it.

They voted for it without any information about what the internal metrics were that they'd already hit like he was supposed to be getting this, like these bonuses, if they hit this, if they hit that, they'd already hit them and they knew they were about to hit the next one. It wasn't a threat, it wasn't a reach goal, right Like, And those that types of information comes out because you have plans, attorneys that actually do the investigations to make that case. And it's clear that these you know, tech oligarchs, they don't want any accountability. Like the messaging that we've been given is the court is out of balance. It's unpredictable. We need to restore balance. But what they're really saying is when it's balanced, we don't like that.

They voted for it without any information about what the internal metrics were that they'd already hit like he was supposed to be getting this, like these bonuses, if they hit this, if they hit that, they'd already hit them and they knew they were about to hit the next one. It wasn't a threat, it wasn't a reach goal, right Like, And those that types of information comes out because you have plans, attorneys that actually do the investigations to make that case. And it's clear that these you know, tech oligarchs, they don't want any accountability. Like the messaging that we've been given is the court is out of balance. It's unpredictable. We need to restore balance. But what they're really saying is when it's balanced, we don't like that.

We don't want balance, right.

We don't want balance, right.

And you know, pension funds don't want to invest in companies that are just going to throw money in the garbage and light it on fire because a guy wants to go to space and wants to you know, moonlight as a public servant.

And you know, pension funds don't want to invest in companies that are just going to throw money in the garbage and light it on fire because a guy wants to go to space and wants to you know, moonlight as a public servant.

Like, that's not good for minority shareholders.

Like, that's not good for minority shareholders.

So folks are worried that if they do lose the ability to actually investigate these people, you know, the companies that they invest in that are in Delaware are not safe investments.

So folks are worried that if they do lose the ability to actually investigate these people, you know, the companies that they invest in that are in Delaware are not safe investments.

Yeah, well, at this point it might be more financially advantageous to pay a lot must fifty six billion dollars to go away, given the way that he's helping to tank Tesla sales and number of investors who are starting to come out and say, I don't know what going well.

Yeah, well, at this point it might be more financially advantageous to pay a lot must fifty six billion dollars to go away, given the way that he's helping to tank Tesla sales and number of investors who are starting to come out and say, I don't know what going well.

Terrified of thinking of Elon Musk being fifty six billion dollars richer, Like I mean, I don't.

Terrified of thinking of Elon Musk being fifty six billion dollars richer, Like I mean, I don't.

Got more money than any of us could wrap our heads around. You know, it's insanity, utter insanity. Well, thank you so much, representative for helping us to understand this. It's been really really useful to get your insights as someone who's trying to grapple with all of these issues and make sure you know the state's okay and state budget is okay and all of those good things do Thanks for having me, Yeah, of course. Yeah, we'll see you soon. And if you just you can just make sure that your thing is uploaded, then you can just click the leave button and we should be all good.

Got more money than any of us could wrap our heads around. You know, it's insanity, utter insanity. Well, thank you so much, representative for helping us to understand this. It's been really really useful to get your insights as someone who's trying to grapple with all of these issues and make sure you know the state's okay and state budget is okay and all of those good things do Thanks for having me, Yeah, of course. Yeah, we'll see you soon. And if you just you can just make sure that your thing is uploaded, then you can just click the leave button and we should be all good.

Got it?

Got it?

Okay, this is ninety nine percent. Do you have to click anything?

Okay, this is ninety nine percent. Do you have to click anything?

No, you should be good. Thank you. I'm gonna go ahead and pull up. Guys, this is something I've been keeping track of. Just to stick on the Tesla conversation for for one more minute. So the Financial Times Leo Michael Cores really wants me to buy something. Financial Times flagged this accounting red flag we'll call it where you know. The way that this article frames it as Tesla's missing one point four billion dollars has accounting experts asking questions. I'll just read you a little bit here. So effectively, they have a mismatch between how much they say they invested in you know, property, you plant and equipment. Those sorts of things, and how much of those sorts of assets are on the books. So the amount that they claim they invested is one point four billion dollars lower than the amount they're now reflecting on the books. So there are some you know, potential innocent explanations for this. So they say Tesla spent six point three billion dollars in capital expenditures in the last six months, but the gross values of their assets only increase by four point nine billion, leaving one point four billion on ac counted for. There were a couple of other sort of questionable pieces with regards to Tesla's accounting, including the fact that even though they claim they're sitting on thirty seven billion dollars in cash reserves, they still raised six billion dollars in debt last year at a time when interest rates are like relatively high, so it's not the best time to be, you know, raising debt. They also are not issuing any dividends whatsoever. And so there's a few things here that people who look at financial fraud are kind of scratching their head about, and you know, it tracks some with the Obviously, Tesla is not doing well as a company for the reasons that we discussed before elon stale product line competition from China, et cetera. It also tracks with this weird Canada story where they like desperately scrounged together potentially fraudulently, potentially because they had this loung like backstock of ev rebates that they came in and cashed in right before the ev rebate program ended, which also is sort of smacked of desperation. So I don't know, this is one just to sort of like put a pin in and keep an eye on. But Ryan, what did you make it? A conversation with with the representative Wilson Anton about the way she's thinking about this and how this is likely to go.

No, you should be good. Thank you. I'm gonna go ahead and pull up. Guys, this is something I've been keeping track of. Just to stick on the Tesla conversation for for one more minute. So the Financial Times Leo Michael Cores really wants me to buy something. Financial Times flagged this accounting red flag we'll call it where you know. The way that this article frames it as Tesla's missing one point four billion dollars has accounting experts asking questions. I'll just read you a little bit here. So effectively, they have a mismatch between how much they say they invested in you know, property, you plant and equipment. Those sorts of things, and how much of those sorts of assets are on the books. So the amount that they claim they invested is one point four billion dollars lower than the amount they're now reflecting on the books. So there are some you know, potential innocent explanations for this. So they say Tesla spent six point three billion dollars in capital expenditures in the last six months, but the gross values of their assets only increase by four point nine billion, leaving one point four billion on ac counted for. There were a couple of other sort of questionable pieces with regards to Tesla's accounting, including the fact that even though they claim they're sitting on thirty seven billion dollars in cash reserves, they still raised six billion dollars in debt last year at a time when interest rates are like relatively high, so it's not the best time to be, you know, raising debt. They also are not issuing any dividends whatsoever. And so there's a few things here that people who look at financial fraud are kind of scratching their head about, and you know, it tracks some with the Obviously, Tesla is not doing well as a company for the reasons that we discussed before elon stale product line competition from China, et cetera. It also tracks with this weird Canada story where they like desperately scrounged together potentially fraudulently, potentially because they had this loung like backstock of ev rebates that they came in and cashed in right before the ev rebate program ended, which also is sort of smacked of desperation. So I don't know, this is one just to sort of like put a pin in and keep an eye on. But Ryan, what did you make it? A conversation with with the representative Wilson Anton about the way she's thinking about this and how this is likely to go.

Yeah, that was I was enlightening in some ways. I because I didn't realize that Facebook et cetera. Are capped at how much they can spend.

Yeah, that was I was enlightening in some ways. I because I didn't realize that Facebook et cetera. Are capped at how much they can spend.

You know.

You know.

I know that Delaware is valuable to these companies because it's it's so cheap and because there are very few you know, the rules are tilted in the direction of corporations. But I thought that every transaction, you know, even though it's only fifty dollars or a couple hundred dollars depending on the size to like register as an LLC in Delaware.

I know that Delaware is valuable to these companies because it's it's so cheap and because there are very few you know, the rules are tilted in the direction of corporations. But I thought that every transaction, you know, even though it's only fifty dollars or a couple hundred dollars depending on the size to like register as an LLC in Delaware.

If you do a whole.

If you do a whole.

Lot of different registrations, that's going to increase the amount. But it's interesting that they're even capped two hundred and fifty k. So it was just that you would tell these you know, handful dozens of companies total that have these charismatic control controlling CEOs to be like, okay, look, this is not the state for you. Like that's why we have Nebraska and we have Nevada, and you know there are there's there's this race to the bottom with a bunch of these other states that see the amount of revenue Delaware makes from corporate registrations and wants to wants to match that. So you guys, go ahead and go there. But you know, her point is accurate that corporations also want stability and and Delaware has, because of its chance to record, offered stability for many years. So it is interesting that Delaware could throw its entire system out of whack and kill the golden goose. You know, their golden goose is this?

Lot of different registrations, that's going to increase the amount. But it's interesting that they're even capped two hundred and fifty k. So it was just that you would tell these you know, handful dozens of companies total that have these charismatic control controlling CEOs to be like, okay, look, this is not the state for you. Like that's why we have Nebraska and we have Nevada, and you know there are there's there's this race to the bottom with a bunch of these other states that see the amount of revenue Delaware makes from corporate registrations and wants to wants to match that. So you guys, go ahead and go there. But you know, her point is accurate that corporations also want stability and and Delaware has, because of its chance to record, offered stability for many years. So it is interesting that Delaware could throw its entire system out of whack and kill the golden goose. You know, their golden goose is this?

You know this?

You know this?

You know these corporations registering in Delaware. No no offense of Delaware if they killed their golden goose. You know, good like they Nevada, all the North Dakota, all these states that are doing this are parasites living off the rest of the rest of the country and the rest of the world, you know, and you know, they get no sales tax and they get lower tax so good good for them. But like that's what that ultimately is is on.

You know these corporations registering in Delaware. No no offense of Delaware if they killed their golden goose. You know, good like they Nevada, all the North Dakota, all these states that are doing this are parasites living off the rest of the rest of the country and the rest of the world, you know, and you know, they get no sales tax and they get lower tax so good good for them. But like that's what that ultimately is is on.

The back of us, right, because they're winning the race to the bottom to get all of these corporations to register in these few handful of states rather than them being distributed across the country, across the world, et cetera.

The back of us, right, because they're winning the race to the bottom to get all of these corporations to register in these few handful of states rather than them being distributed across the country, across the world, et cetera.

And facing tougher regulation and consumer protections and yes, shareholder shareholder rights, et cetera. So you know, we get worse consumer protections, worst shareholder rights, you know, lower corporate taxes so that Delaware can have no sales tax. Like, it's not a good deal for the rest of the country. Right, So it'd be interesting if they just if they screwed up, if they killed their own golden goose out of misplaced fealty to you know, Elon Musk and Mark Zuckerberg.

And facing tougher regulation and consumer protections and yes, shareholder shareholder rights, et cetera. So you know, we get worse consumer protections, worst shareholder rights, you know, lower corporate taxes so that Delaware can have no sales tax. Like, it's not a good deal for the rest of the country. Right, So it'd be interesting if they just if they screwed up, if they killed their own golden goose out of misplaced fealty to you know, Elon Musk and Mark Zuckerberg.

This is the one of the lever news reports. They've been doing a really good job tracking this I just wanted to give them a shout out. But one last thing I'll mention before we move on to some some well, I mean everything is Elon news, but not directly Elon news. Is you know you mentioned Ryan how they have to be concerned not just about oh Elon and Bill Ackman and Mark Zuckerberg and these people are mad and they're going to leave the state or they already left the state or whatever. They also have to be worried about the full force of the federal government being trained directly on them. And I did a piece yesterday tracking the way this has looked for the state of Maine. I don't know if you guys remember there was this like flap with there was a governor's meeting and Trump calls out the governor of Maine because she isn't doing what he wants with regard to trans girls in sports. Right, there's two trans athletes in the state of Maine, and you know, she's not doing what he wants her to do. And so he basically said, you know, I'll you know, you're going to lose your funding or we're going to see you in court, et cetera. Well, it's been way beyond just it's not just a Department of Education investigation. It's an HHS investigation, it's a USDA investigation, it's National Oceanic Administration. Atmospheric Administration got involved, pulled their main C grant, which is supposed to like support fishermen and you know marine.

This is the one of the lever news reports. They've been doing a really good job tracking this I just wanted to give them a shout out. But one last thing I'll mention before we move on to some some well, I mean everything is Elon news, but not directly Elon news. Is you know you mentioned Ryan how they have to be concerned not just about oh Elon and Bill Ackman and Mark Zuckerberg and these people are mad and they're going to leave the state or they already left the state or whatever. They also have to be worried about the full force of the federal government being trained directly on them. And I did a piece yesterday tracking the way this has looked for the state of Maine. I don't know if you guys remember there was this like flap with there was a governor's meeting and Trump calls out the governor of Maine because she isn't doing what he wants with regard to trans girls in sports. Right, there's two trans athletes in the state of Maine, and you know, she's not doing what he wants her to do. And so he basically said, you know, I'll you know, you're going to lose your funding or we're going to see you in court, et cetera. Well, it's been way beyond just it's not just a Department of Education investigation. It's an HHS investigation, it's a USDA investigation, it's National Oceanic Administration. Atmospheric Administration got involved, pulled their main C grant, which is supposed to like support fishermen and you know marine.

Research, massively destructive to Maine to do that.

Research, massively destructive to Maine to do that.

It actually yeah, I mean this is like a program that has supported thousands of jobs in Maine for years and years and whatever. Then and with this connect to story we're going to do later on. This Social Security Administration dude gets involved. He's the one who was put in charge because he went around the superiors backs and gave the DOJ hackers access to like whatever it is that they wanted. So he decides that he's going to cut the contract that allows the like if you're a new a parent of a newborn when you're in the hospital to just check a box like yes, please, I'd like a Social Security number. Now you're gonna have to take your baby newborn to the Social Security Field office, which has a ligne out the door to the extend it exists at all to be able to get this social Security for newborn. Also cut the same service for funeral homes, so when your loved one dies, you now have to do go through the same you know, painful rigamarole, et cetera, out of retribution. He initially was like, oh, it's just an innocent mistake, and then later on admitted that he was mad about the way that the governor treated the president was how he described it. Now, some of this stuff, because they happened to have a Republican senator, Susan Collins, has been rolled back, has been reinstated because she was able to go and make her plea to you know, the King of begging for forbearance, and so some of these things have been put back in place. But you know, I'm sure Delaware is looking at that, is looking at the threats to California, is looking at, you know, the the treatment of all kinds of people's institution, institutions, et cetera, that I've gotten crosswise with this administration, or like, do we really want to play this game.