TWiST News: Netflix Goes Live, The FCC Revamp, Free Speech, and Regulatory Shifts | E2046

Jason and Alex kick off the show (0s)

• This week's episode of "This Week in Startups" is hosted by Jason Calacanis, with co-host Alex Wilhelm, and features a diverse and interesting lineup of topics (0s).
• The show will cover Netflix's live event and data, as well as the incoming new head of the FCC and his views on tech (15s).
• The episode will also discuss the former FCC head's time on the show and his views on censorship, particularly in the UK (19s).
• Another topic of discussion is the former Uber executive who may head the Department of Transportation (27s).
• The show will also touch on the ground that venture capitalists need to make up in exits (31s).
• The episode is sponsored by Coda, which empowers startups by bringing words, tables, and teams together to strategize, plan, and track goals effectively (39s).
• Coda is offering six free months of the team plan to listeners who sign up at coda.io/twist (52s).
• Other sponsors include Lemon, which offers pre-vetted remote developers, and Kite, which delivers rental cars to customers' doors (58s).

Netflix's live event issues and potential in sports streaming (1m14s)

• Netflix recently live-streamed a boxing event featuring Mike Tyson and Jake Paul, which was marred by technical issues, including error codes and poor picture quality, with many users experiencing the "red Spinning Wheel of death" on the platform (1m39s).
• Despite the technical issues, the event was a huge success for Netflix, with preliminary data suggesting that around 60 million households watched the event, and a concurrent stream peak of 65 million, which is a significant milestone (2m35s).
• The undercard fight between Taylor and Sorrano was also a major success, with 50 million households watching, which Netflix claims is the most streamed women's sports event in history (2m45s).
• Jake Paul reportedly earned $40 million for the fight, while Mike Tyson secured a $20 million deal, despite the fight being widely panned as a "fraud" and a "disgrace" due to its lack of competitiveness and perceived staging (3m9s).
• The event was seen as a stress test for Netflix's live streaming capabilities, which will be crucial for the platform's future live sports offerings, including two NFL games on Christmas Day and a deal with WWE's Monday Night Raw starting in January next year (5m17s).
• Netflix's foray into live sports is seen as a significant move, with the platform leaning into live sports broadly, although the quality of the Mike Tyson vs Jake Paul fight was a disappointment (5m54s).
• The fight was criticized for being a "fake fight" and an "exhibition" rather than a genuine competitive bout, with some comparing it to professional wrestling due to its perceived staging and lack of competitiveness (4m31s).

The growing intersection of professional wrestling, sports betting, and viewership (6m28s)

• The recent fight between Jake Paul and a 60-year-old man was presented as a legitimate fight, but it's been suggested that it may have been staged, which raises concerns about sports betting on such events (6m28s).
• The fight's enormous handle and the fact that many people, including friends, placed large bets on Jake Paul to win, with some betting $5,000 to $25,000, further complicates the issue of sports betting on potentially staged events (6m34s).
• Jake Paul's claim that he intentionally didn't knock out his opponent out of respect may be seen as throwing the fight, which could have significant implications for those who bet on the outcome (7m15s).
• The intersection of professional wrestling, sports betting, and viewership may lead to sports events becoming as large as the Super Bowl if they are free and included in bundles (7m43s).
• Companies like Disney and Netflix should pay attention to this trend, as their large subscriber bases and global reach could make them ideal platforms for hosting sports events (7m53s).
• Sports events, like nature documentaries, have a global appeal that transcends cultural and language barriers, making them an attractive option for streaming services (8m26s).
• If sports events like NFL and NBA games were available on streaming services without payment and with advertising, viewership could potentially double or triple (9m9s).
• The current model of requiring payment for sports events, such as the NBA League Pass, may be throttling viewership, and a shift to ad-supported models could lead to a significant increase in audience size (9m26s).
• The global audience for sports events could be much larger than previously estimated, with the potential for 60 million people to watch events with ads (9m53s).

Evolving business models in streaming: Advertising vs. subscription (10m3s)

• A recent event had numerous sponsorships, with logos from companies like Meta appearing on the ring ropes, suggesting that if a major brand like Tesla, Uber, Amazon, or Disney had sponsored the event for 60 million viewers, it would have been a significant accomplishment (10m3s).
• The international viewership numbers for the event are not yet known, with preliminary data suggesting that half the audience may have been from the US and the other half international, although this split is not confirmed (10m33s).
• The fragmentation of sports broadcasting across different platforms, such as Netflix, Amazon, and Apple TV+, can be frustrating for viewers who have to keep track of which platform has the rights to which games or leagues (11m1s).
• The NFL, for example, has a contract with Amazon, while the NWSL has struggled with viewership due to its games being scattered across different platforms (11m3s).
• Having sports games available on major streaming platforms like Netflix, which many people already subscribe to, could make it easier for audiences to access them (11m22s).
• However, this can also lead to the need for multiple recurring subscriptions to watch different sports or leagues, which can be disappointing for viewers who wish for a more streamlined experience, such as a league pass model (11m36s).
• The current system appears to prioritize maximizing profitability for the platforms and leagues, rather than convenience for the viewers (11m51s).

Coda - Get a $1,000 startup credit (11m55s)

• Coda is a collaborative workspace platform that combines document, spreadsheet, and app features, allowing teams to consolidate knowledge and work more efficiently (11m57s).
• Coda is a new category of software that is easy to learn and powerful, making it suitable for various applications, including tracking investments and portfolio companies (12m13s).
• The platform is used by This Week in Startups and Launch to track their "whisper Network," a database of investments and introductions to other investors and portfolio companies (12m32s).
• Coda enables the creation of mini-apps that help organizations achieve their goals by building systems of record, which can be used to track goals, plan, and strategize (13m6s).
• Coda offers a limited-time promotion for startups, providing six months of the team plan for free when signing up through the link coda.io/twist (13m33s).
• The promotion allows startups to take advantage of Coda's features, including strategizing, planning, and tracking goals, and building the systems needed to achieve them (13m24s).

The future landscape of sports streaming rights and network deals (13m49s)

• The future landscape of sports streaming rights and network deals may see major players like Amazon, Apple, and Netflix owning the rights to various sports leagues, such as the NFL, Major League Soccer, and the NBA or Major League Baseball (13m50s).
• A rumored deal between the NBA and ESPN, where the NBA might own ESPN, raises concerns about potential conflicts of interest and censorship, as ESPN reporters would be reporting on the league they are affiliated with (14m8s).
• The relationship between sports leagues and networks can create tension, as networks may avoid criticizing the leagues due to fear of losing contracts or access to events and interviews (14m24s).
• High-profile journalists and announcers may also self-censor or avoid discussing sensitive topics, such as brain injuries in the NFL, to maintain their lucrative contracts and relationships with the leagues (14m29s).
• The influence of advertising revenue and event sponsorships can also impact the content and tone of sports reporting, with journalists and publications potentially avoiding critical coverage to maintain access and revenue streams (15m56s).
• The shift towards subscription-based models, such as those used by TechCrunch, can help reduce dependence on advertising revenue and create more editorial freedom, but may also introduce new challenges and tensions, such as the need to balance critical reporting with the desire to attract high-profile guests and sponsors to events (15m48s).

Maintaining editorial independence in media companies (17m17s)

• The relationship between the business and editorial sides of a media company can be uncomfortable, but it's essential to maintain editorial independence to avoid impacting the income stream (17m21s).
• Netflix, as the largest online streaming company, should have had its live streaming set up in better shape, considering its 280 million subscribers globally, the largest subscription business outside of China (17m55s).
• Netflix may realize that pushing people towards the advertising tier will maximize revenue, with some users paying for ad-free content and others opting for ad-supported content at a lower cost (18m23s).
• A free, ad-based tier with limited content could help Netflix increase its subscriber base to 500-700 million, as seen with Spotify's free tier, which has a large number of users (19m5s).
• The NFL is an example of how different platforms, such as Amazon Prime, Paramount+, and Fox Sports, offer live sports content, and a similar model could work for Netflix (19m23s).
• The rise of Monday Night Football in the late 1970s transformed the sports broadcasting landscape, making Monday nights a popular time for bars and businesses, but the proliferation of other sports events has watered down its impact (19m41s).

Analyzing NFL viewership trends and their influence on television (20m24s)

• The NFL is being divided into smaller segments to find the highest bidder for each, as people have noted a slow decline in cable and NFL viewership in recent years (20m24s).
• The NFL is the most popular thing on paid television, and its viewership is closely tied to the overall TV viewership, with a decline in one leading to a decline in the other (20m36s).
• Netflix's entry into live events is seen as a brilliant move, as it provides a way to bring everyone together at the same time and drive intense conversation and communication, similar to the impact of hit shows like "Stranger Things" or "Wednesday" (20m46s).
• Although Netflix faced streaming issues with its live events, the fact that many people showed up and caused these issues is also seen as a positive sign (21m5s).

Netflix's content strategy and Amazon Prime's new ad policies (21m11s)

• Netflix's content strategy involves releasing entire series at once, which disrupted the industry and changed the way people consume content, as seen with shows like "Stranger Things" (21m12s).
• However, some viewers still prefer the incremental release model, where episodes are released weekly, as it keeps them engaged over a longer period (21m34s).
• The media industry is experiencing another iteration of bundling and unbundling, with services like Amazon Prime changing their ad policies (21m47s).
• Amazon Prime has introduced ads for some of its content, which can be removed by paying more, but this change has debased the service for long-time subscribers who are annoyed by the addition of ads (22m6s).
• The introduction of ads on Amazon Prime is seen as a way for the company to make more money from its subscribers, who feel that the service has been made worse by the change (22m10s).
• Spotify offers an ad-free tier, which is a relief for some users who are unhappy with the introduction of ads on other services like Amazon Prime (22m38s).
• Spotify has a large user base, with 343 million ad-supported monthly active users and 220 million paid subscribers globally, totaling close to 600 million users (22m40s).
• The success of Spotify and other businesses that reach a large user base is expected to be significant, with some potentially reaching a billion users (23m3s).

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• The process of finding and integrating great developers into a team can be challenging, but Lemon.io handles this process, offering handpicked developers with a minimum of 3 years of experience and only selecting those in the top 1% of applicants (23m51s).
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• Many launch founders have had positive experiences working with Lemon.io (24m10s).
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• Twist listeners are eligible for a 15% discount on their first four weeks of developer time when using Lemon.io (24m27s).

AI, monetization, and the move towards ad-free experiences (24m39s)

• The current AI boom has led to successful monetization through subscription-based services, with many consumers, including those who pay for corporate and personal subscriptions, having a positive experience without ads (24m40s).
• Historically, social networks and Google search were initially ad-free, and this trend is often seen in new services that have enough venture capital backing to support growth without immediate monetization (25m6s).
• Venture capitalists often support services that demonstrate strong growth, typically in the range of 1-5% week-over-week or 10-20% month-over-month, allowing them to delay monetization and focus on growth (25m15s).
• This approach has been successful for companies like YouTube, Spotify, Google search, Facebook, and Instagram, which were able to delay advertising and eventually achieve significant user bases and ad revenue (25m41s).
• Achieving product-market fit is challenging, and investors often prioritize giving teams the ability to focus on growth without the pressure of immediate monetization (26m1s).
• The idea of having a no-growth startup without charging for services is not viable, but companies with strong growth can suspend the need for immediate monetization (26m25s).
• Advertisers are likely to be attracted to AI services when they reach large user bases, similar to the Super Bowl's massive audience, and celebrity events like the Jake Paul and Mike Tyson boxing match, which drew a large audience (26m36s).
• The success of such events may be attributed to the power of online culture and the ability of individuals like Jake Paul to attract attention to their activities (27m14s).
• The combination of Mike Tyson's fighting career and Jake Paul's online presence may have contributed to the event's success, but it is unclear whether other celebrity boxing matches would achieve similar results (27m17s).

Exploring the viability of Netflix hosting pay-per-view events (27m49s)

• Netflix's potential shift to live events and pay-per-view is considered, with the possibility of spending $100 million on events and potentially reducing churn by 1.5% of their user base, which could be economically viable given their revenue of $40 billion a year (27m49s).
• The idea of adding friction to an existing paid consumer subscription is often seen as the wrong choice, citing the example of Amazon Prime ads (29m24s).
• Netflix's revenue is estimated to be around $40 billion a year, with varying fees in different regions, and it is wondered what the total revenue for the NBA is, including their licensing deals (29m36s).
• The possibility of a service like Netflix or YouTube acquiring the rights to a major sports league, such as the NFL, is discussed, with the potential for a massive increase in subscribers (30m36s).
• The increasing availability of smart TVs and streaming devices, such as Roku, has made it easier for people to access streaming services, reducing the limitation of not having a smart TV (30m57s).
• The idea of a single service acquiring the rights to a major sports league is seen as a potential game-changer, with the possibility of a massive increase in subscribers and revenue (30m48s).
• A new concept for producing shows is emerging, which could be economically possible with a global footprint and an ad-supported tier, allowing for free access to content like NBA League Pass, potentially offsetting lost revenue through global advertising (31m41s).
• The idea of giving up paid subscriptions for a global footprint with an ad-supported tier raises questions about the potential for increased advertising revenue, but also concerns about the impact of excessive advertising on viewers (32m15s).
• A startup called Kite (KYT) is revolutionizing the car rental experience by delivering professionally maintained cars directly to customers, eliminating the need to wait in lines at airport parking garages (32m34s).
• Kite operates in large cities across the United States, including LA and San Francisco, and offers a convenient app for managing entire trips, avoiding extra fees and long wait times (33m28s).
• To try Kite, users can download the app or book online at ky.com, and use the code "Jason" at checkout to receive 10% off their first rental (33m42s).

Brendan Carr's FCC chairmanship and the future of rural broadband (33m52s)

• Brendan Carr is set to become the next chairman of the FCC, a development that is seen as positive due to his stance on issues such as government waste and rural broadband (33m52s).
• The current approach to rural broadband has been criticized for being wasteful, with plans to spend $10,000 to $30,000 per person to bring broadband to rural areas over a period of 5 to 10 years, despite the existence of viable alternatives like Starlink (34m37s).
• Starlink has been used as a backup internet connection and has proven to be fast enough, with speeds of over 100 megabits down and 10 megabits up, making it a suitable option for rural areas (34m55s).
• The government's decision to cancel the Starlink contract and instead opt for traditional broadband infrastructure is seen as a waste of taxpayer money, especially given the existence of other satellite internet providers (34m50s).
• A more cost-effective solution would be to provide vouchers to rural residents to help them pay for satellite internet connections, rather than investing in expensive infrastructure (36m21s).
• The issue of rural broadband is seen as an example of government waste, and the solution lies in reducing the size and footprint of government, rather than relying on taxpayer-funded initiatives (36m51s).
• The same principle applies to other areas, such as electric vehicle charging infrastructure, where the free market is already providing solutions, making government subsidies unnecessary (37m6s).
• There is a growing trend of hotels and other businesses investing in EV charging stations to attract customers, making government funding for this purpose redundant (37m44s).

The role of the free market in social media platform regulations (38m22s)

• Brendan Carr, who wrote the FCC chapter in the Project 2025 Manifesto, has expressed strong views on certain technology issues, including his stance on TikTok, which is in line with others (38m23s).
• Project 2025 is a conservative initiative by the Heritage Foundation, a well-funded think tank, which was disavowed by Trump due to its radical nature (38m50s).
• Carr's views on technology issues, as expressed in the Project 2025 Manifesto, seem to align with some Democratic views, particularly regarding government involvement in technology (39m23s).
• Carr has criticized big tech companies, such as Facebook, YouTube, and social media platforms, for their handling of online content, account suspensions, and demonetization, which he believes is inconsistent and potentially politically motivated (39m25s).
• The criticism of big tech companies by Carr is seen as surprising, given his supposed alliance with the tech industry, and raises concerns about potential government involvement in technology (40m1s).
• The banning of Trump from all platforms after the January 6 incident was a controversial move, with some people fearing that it could lead to further civil unrest and violence (40m19s).
• The incident led to concerns about the potential for incitement of violence and the role of social media platforms in regulating online content (41m40s).
• The Republicans have not forgotten the incident and continue to harbor resentment towards the tech companies for banning Trump (41m45s).
• The concept of free speech is being debated, with some arguing that private companies like Facebook should be able to decide what content to allow on their platforms, while others believe that these platforms have such a wide reach that they need to have a process in place to regulate the content they ban, with some conservatives arguing that this process should be regulated by the government (42m3s).
• The issue of banning conservative views from platforms like YouTube and Facebook has been a point of contention, with some arguing that these platforms should be held accountable for the content they ban, and that there should be a process in place to adjudicate these cases (43m7s).
• Some believe that it would be better for these platforms to have a clear process in place for banning content, rather than relying on government regulation, and that users who disagree with a platform's policies can simply choose to use a different platform (43m21s).
• The debate over free speech and platform regulation is a contentious issue, with some arguing that it is a matter of free market principles, and that users should be able to choose which platforms they want to use based on their policies (43m46s).
• The issue of platform regulation is also tied to the debate over the role of government in regulating private companies, with some arguing that the government should not be involved in regulating the content of private companies (43m25s).
• The debate over free speech and platform regulation is also influenced by partisan politics, with some Republicans arguing that platforms like Facebook and YouTube are biased against conservative views, and that the government should take action to regulate these platforms (43m12s).
• There is also a shift in the way that some politicians are approaching the issue of free speech and platform regulation, with some Democrats like AOC arguing that the party should be more open to different viewpoints and more reasonable in its approach to regulating platforms (44m56s).

Political shifts and their impact on tech and social media (45m2s)

• The EU has a regulation called the "very large online platforms threshold" which brings on another set of regulations that impact those platforms, a concept that is being considered in the US as well, with the new head of the FCC seemingly endorsing a similar setup (45m9s).
• The concept of free speech is nuanced, and while it's abhorrent for a bakery to refuse service to a gay couple, it's also important to consider the bakery owner's religious beliefs and allow them to have those beliefs, even if they're not widely accepted (45m37s).
• However, when it comes to social media platforms, being banned from one platform can essentially remove someone from the public square, which is a different issue than a bakery refusing service (46m4s).
• Some individuals, such as Alex Jones, Milo Yiannopoulos, and Donald Trump, have been banned from social media platforms, which has sparked debates about free speech and censorship (46m25s).
• The idea of empowering consumers to choose their own content filters is being discussed, which would allow users to pick their own algorithm and potentially break the platform's Section 230 protection (47m2s).
• The concept of transparency in algorithms is also being discussed, with the idea that platforms should allow users to choose between different algorithms, such as educational, enriching, or most popular (47m31s).
• The issue of free speech is nonpartisan, and both American political parties have been inconsistent in their support for free speech, making it important for individuals to think critically about the issue (48m21s).
• The platform X has been praised for its commitment to free speech, but it has also led to a degraded user experience for some users, who have to deal with more scrubbing and blocking of unwanted content (48m50s).

TikTok's regulatory challenges and UK censorship laws (49m50s)

• Jason and Brendan Carr are on the extreme ends of the anti-TikTok agitation, with Jason agreeing with Carr's comments on the company's untrustworthiness with data and supporting divestment or banning TikTok (49m53s).
• Trump has publicly changed his stance on TikTok, which creates tension with Brendan Carr, who is on the other side of the issue, and it will be interesting to see how this tension is resolved (50m20s).
• Jeff Yas, a big shareholder in TikTok, reportedly made a large donation to a super pack, and Trump had previously considered banning or divesting TikTok, but now seems to support the platform (50m34s).
• Shareholders in TikTok, including Jeff Yas, want to maximize their profits and secretly want the company to be divested, but they do not have the leverage to force China to do so (51m2s).
• The logical solution for shareholders would be to take the company public, allowing them to sell their shares and avoid having the company banned, while also preventing an adversary from controlling the powerful platform (51m21s).
• In the UK, people have been arrested for social media posts, including those deemed hate speech or offensive speech, but not necessarily threats like bomb threats (52m43s).
• Examples of such arrests exist, and the issue is often discussed on Twitter, with some people expressing concern about the police showing up at their doors to discuss their online posts (52m51s).
• In the UK, there have been instances where individuals were convicted for posting online content that incited racial hatred or violence, with the first conviction being Jordan Parlor, who was jailed for 20 months for advocating an attack on a hotel in Leeds through Facebook posts (53m57s).
• Another example is Tyler K, who called for setting fire to hotels housing asylum seekers, with one of his tweets explicitly stating "set fire to all the hotels full of them, for all I care if that makes me racist" (54m32s).
• Both cases involved incitement to violence rather than just expressing dislike or hatred, which is a key distinction in the UK's Public Order Act of 1986 (54m53s).
• The Public Order Act has two key sections, 19 and 21, which state that a person is guilty if they intend to stir up racial hatred through distributed written material or recorded content (54m59s).
• The UK law has been in place since 1986, but these cases are the first digital examples to be brought to court, with the distinction being that they involved incitement to violence rather than just hatred (55m21s).
• The concept of free speech absolutism ends when someone incites violence, and threatening to burn a hotel down is considered problematic, as it can incite others to take action (55m36s).
• In the United States, threatening violence against the president or elected officials can result in a visit from the Secret Service, and there are laws in place to protect against such threats (56m20s).
• The critical difference between the UK and the US is that hate speech is protected in the US, but not in the UK, where it is considered a crime to incite racial hatred (57m9s).
• The concept of "true threats" exists in the US, where speech that constitutes a true threat loses First Amendment protections, as per the Supreme Court, and this is why certain tweets or statements can be considered a true threat and not be protected by free speech laws (57m28s).
• The UK has rules in place to crack down on protesting, which have been implemented by the conservative party, and these rules have been used to arrest individuals for making offensive tweets (57m54s).
• The UK's laws on free speech are different from those in the US, and it is unclear how comedians like Dave Chappelle would be treated in the UK if they made jokes about certain identifiable groups (58m12s).
• UK comedy often pushes boundaries and makes jokes about topics that might be considered off-limits in the US, but it is unclear how jokes about certain topics, such as Muslims or Islamic immigration, would be received (58m50s).
• A 25-year-old man, Nathan Thompson, from Newcastle upon Tyne, received a 16-month suspended sentence for a series of offensive tweets that celebrated Adolf Hitler and promoted extremist right-wing material (59m34s).
• The UK's laws on hate speech and extremism have been in place since 1986, and it is not a new development, but rather an existing law that has been used to prosecute individuals for making offensive statements (1h0m9s).
• Other countries, such as Germany and France, have specific laws regarding Nazi memorabilia and propaganda, and these laws have been used to prosecute individuals and companies for selling or promoting such materials (1h0m28s).
• The discussion touches on the influence of film director Leni Riefenstahl on George Lucas, with scenes from her film "Triumph of the Will" being referenced in "Star Wars," particularly in the way Stormtroopers line up, which is reminiscent of Nazi imagery (1h1m22s).
• The conversation also mentions the importance of understanding the context of social media posts, particularly when it comes to free speech and regulation, with the example of a tweet being shown that seems to be hypothetical rather than a direct call to action (1h2m19s).
• The UK's approach to free speech is mentioned, with the suggestion that they give less leeway to the "I didn't know what I was doing" defense, which is seen as a choice they have made (1h2m50s).
• Emil Michael is mentioned as a potential candidate for Secretary of Transportation in the next administration, leading the Department of Transportation (1h3m8s).

Emil Michael's potential cabinet position and government efficiency (1h3m11s)

• A former Uber executive is being considered for the role of Secretary of Transportation, and many in the tech industry, including Elon Musk, are excited about the prospect of a business executive in the position, as they believe it would lead to more efficient decision-making (1h3m12s).
• The executive, who was previously considered for the role under the Trump administration, is known for being an aggressive dealmaker and has experience working with Travis Kalanick, the co-founder of Uber (1h3m24s).
• Having a business executive in the role could lead to more progress on projects such as high-speed rail and self-driving cars, as they would be able to approach the issues from a business perspective rather than a purely political one (1h4m11s).
• The Department of Transportation (DOT) is a large agency with 55,000 employees and a budget of $88 billion in 2021, and it will be interesting to see how the new administration approaches efficiency and waste within the agency (1h6m24s).
• The DOT oversees several key agencies, including the Federal Aviation Administration, the National Highway Traffic Safety Administration, and the Federal Highway Administration, making it a critical agency for the country's infrastructure and transportation systems (1h6m15s).
• The new administration's approach to the DOT will be a test of their ability to reduce waste and increase efficiency in government agencies, and it will be interesting to see how many people remain at the agency and how much the budget changes over time (1h6m30s).
• The discussion revolves around the concept of waste in institutions, particularly in terms of administrative costs and personnel, with the idea of cutting unnecessary positions to make the system more efficient (1h6m49s).
• It is estimated that around 35% of people in institutions could be cut without any dramatic loss, as long as the right people are targeted (1h7m43s).
• The example of Elon Musk's takeover of Twitter is cited, where he made significant cuts to save the company from hemorrhaging cash, but also allowed those who were mistakenly cut to appeal and potentially get their jobs back (1h8m12s).
• Elon Musk's approach to cutting staff was thoughtful, and he encouraged those who were let go to email him and explain why they should be reinstated if they believed their job was critical (1h9m0s).
• Some people did appeal and were able to get their jobs back, including members of the Community Notes team, which Elon Musk now frequently talks about and considers essential (1h9m25s).
• Community Notes is a feature that allows users to rate and provide feedback on tweets, and it is possible for users to opt-in to participate in the rating process (1h10m7s).
• A hypothetical scenario is presented where 20 out of 100 employees in a department are let go due to a reduction in force, with the remaining 80 employees being asked to continue working, and the 20 let go being given the option to appeal their termination (1h10m30s).
• The scenario results in 3 of the 20 employees being rehired, bringing the total number of employees back up to 83, and saving 17% of the budget, which is equivalent to 1% of the personnel budget (1h11m19s).
• It is suggested that if this same scenario were to play out across the entire federal government, with 17% of employees being let go and 83% remaining, it would not result in a significant reduction in spending (1h11m40s).
• The idea is proposed that if every administration were to add $8 trillion to the national debt, but one administration were to add nothing, it would be a huge win (1h12m0s).
• The goal of cutting 5-10% of spending per year is discussed, with the idea that if this were possible, it would be a miracle and would allow the country to start paying down its debt (1h12m14s).

Strategies for balancing the federal budget and reducing national debt (1h12m26s)

• Strategies for balancing the federal budget and reducing national debt include not extending the tax cut and jobs act, which could have a significant impact, and making 5% cuts every year for four years to compound into a significant turnaround (1h12m34s).
• Freezing spending and making gradual cuts could lead to a balanced budget and surplus, similar to what was achieved during Clinton's presidency (1h13m30s).
• The Trump Administration is seeking to ease US rules for self-driving cars, and Emil Michael, who has experience with self-driving cars from his time at Uber, may be a good fit to take point on this issue (1h13m56s).
• If the Trump Administration makes it easier to have steering wheel and pedal-free self-driving cars, it could be seen as a positive development (1h14m11s).
• The Trump Administration has a mandate to implement their policies, having won the election and control of all three branches of government, and should be given the opportunity to do so while being held accountable (1h14m25s).
• Democrats and Republicans should be able to support and hold accountable the administration in power, regardless of party affiliation (1h14m37s).
• The Democrats have not had control of all three branches of government recently, with the last time being during Obama's presidency (1h15m10s).
• The valuation of companies like Binance is still rising despite restrictions, possibly due to the business being good and a slight rebound in excitement for technology products in China (1h15m26s).
• The Chinese government may be trying to rein in the animal spirits and support the tech industry after cracking down too hard on regulation (1h15m41s).
• Binance's worth has fluctuated over time but is currently rising again, and the company may retain some equity ownership even after divesting from TikTok (1h15m55s).
• China will always be a place where investors are willing to place bets, despite issues, due to the large market size (1h16m10s).

ByteDance's valuation amidst US restrictions (1h16m19s)

• ByteDance's valuation is not explicitly mentioned, but the concept of "too big to ban" is discussed, drawing a parallel with "too big to fail," suggesting that some companies may be too large to be banned or restricted, even if they pose concerns (1h16m20s).
• The idea of creating a website to track politicians' promises and their progress over time is proposed, with the suggestion that it could be a startup idea worth backing (1h16m52s).
• The proposed website would include quotes from politicians, the date they made the promise, and a tracker to monitor their progress, providing a scorecard to evaluate their performance (1h17m49s).
• PolitiFact, a nonprofit project operated by the Poynter Institute, is mentioned as an existing organization that tracks politicians' promises and provides fact-checking, but its partisan leanings are questioned (1h18m12s).
• PolitiFact's Biden promise tracker is highlighted as an example of their work, but it is unclear if they will create a similar tracker for Trump (1h18m14s).
• The Poynter Institute is described as a left-leaning organization, but its transparency about sources, ownership, and approach to data and decision-making is appreciated (1h18m33s).
• The discussion concludes with a preview of upcoming topics, including Nvidia earnings and IPL action (1h19m11s).