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Turn off the electricity and let's dance. Let's dance. Hi, everyone. This is Pivot from New York Magazine and the Vox Media Podcast Network. I'm Kara Swisher. And I'm Scott Galloway. How you doing, Scott? What's going on? I'm doing okay. I just hauled up five flights of stairs my 14-year-old's beverage refrigerator because what...
is a 14-year-old without his own beverage refrigerator. I like a beverage. I just bought a beverage refrigerator. Yeah, you and my son. Do you know that? Yeah, but you deserve one. We renovated our house. We're moving back in. And I thought, I need a beverage refrigerator in my little pod room. I created a pod room. You know that? I have my own home pod studio like you. I'm trying to keep up with you. It's very nice. Yeah, but I got one of those old retro ones and it's blue.
What do you think? Oh, really? Yeah. I'm in favor of retro blue fruit. I'm just, I'm actually very much an evangelist for beverages, but also, also, yeah. Was it one of those like cool, what do they call it? Smeg? It's not Smeg, actually. Frigidaire. Someone bought the Frigidaire name, and it has Frigidaire across it in that script. I'm very pleased. I'm very pleased with my refrigerator. I love a refrigerator. I've always had beverage refrigerators, and my kids have too. I think it's important.
I have one in San Francisco. I had a whole mind upstairs, too. Anyway, we have a lot to get to today. My God, the news is insane, Scott. I have to tell you. It's nuts. Besides that weird Elon Oval Office presser with the kid saying whatever he was saying.
We have also how DeepSeek is threatening Tesla's dominance. We've got a million of things. Of course, it's all about fucking Elon. I'm so tired of him, but he's right in the middle of everything. So what are we going to do? What are we going to do? What are we going to do? But first...
President Trump said he and Russian President Vladimir Putin have agreed to start negotiating an end to the war in Ukraine. Trump and Putin had what was described as a lengthy and highly productive phone call on Wednesday. Trump later spoke with Ukraine's President Zelensky.
Defense Secretary Pete Hegseth offered some insights on what Ukraine can expect from a peace deal. Way to go, Pete, telling people what we're going to do before we negotiate. But go ahead. We will only end this devastating war. and establish a durable peace by coupling allied strength with a realistic assessment of the battlefield. We want, like you, a sovereign and prosperous Ukraine. But we must start by recognizing that returning to Ukraine's pre-2014 borders is an unrealistic objective.
Chasing this illusionary goal will only prolong the war and cause more suffering. So Hegseth also noted that NATO membership for Ukraine is not on the table. I mean, they just, they just, Russia. sort of won at devastating cost to itself and to Ukraine. But they're essentially saying, well, they got the land they got, and this is where we do. And I get that on some level. At the same time, it's kind of Putin's kind of won because he was willing to.
put up with all those losses on his side and the damage that they did to Ukraine on the other side. This could have been written by Sergey Lavrov, the equivalent of their Secretary of State of propaganda. What might be interesting of the wild card here is I'm not sure Europe is down with acquiescing to another murderous autocrat invading Europe and just saying, okay, it is what it is. I mean, what...
Secretary Hegs has said is probably pretty accurate. It's very unlikely we're going back to the traditional borders. That's correct. But at the same time, the time you negotiate you want to negotiate from a place of strength and what you've seen across europe and you could argue that's one of the benefits of not only not only the invasion of ukraine but also quite frankly of trump who signaled i'm sick of supporting or giving everyone this very expensive military umbrella but you have seen
a dramatic increase in military spending across the EU. So I'm not sure the EU is going to say... You know, Ukraine, if you can't, if you don't want to, if you don't want to bend the knee at this moment, courtesy of whatever Trump and Hexat say, we've got your back. And what's just remarkable about Ukraine is in every conflict there's a new weapon that kind of...
Rears up, whether World War I, it was tanks and biplanes, World War II, radar. Drones. Yeah, and this is all about drones, and it's just incredible. what they have been able to do with substantially less resources so i think you negotiate from a position of strength and when you start off with this type of rhetoric you're basically
This could have been written by the Russians. Yeah, I agree. I think it's really, you know, this is what they said they were going to do. So it's not a surprise. But Hegseth is just reading from a card, by the way. I don't think he has a...
A fresh idea in his head ever. I think he's just handed things like the TV host that he was. I heard he consulted with Jack Daniels before he did the speech. Zelensky, who's basically been sidelined here, posted on X after the Trump call writing, no one wants... peace more than Ukraine. I would imagine so, given the devastation of his country. And it's just, the question is, can Europe...
This is the goal Trump had, which is Europe should pay more of its own freight, presumably, after we have been supportive of him for so, so long. And what he's doing is he's acting like this is a real estate deal, right? The other wild card people are talking about is, you know, who doesn't want peace? China. China was a real beneficiary of the war because they get oil at dramatic, you know, on sale because Russia, because they've been. essentially shunned by every other major oil.
And then another country just went off of Russian oil the other day. They turned on the lights. They had kind of a weird Eurovision event. One of them, they were like, fuck you, Russia. It felt like a rave party. It's like, let's drop Somalia. Turn off Russian gas. And let's dance. Let's dance. And now we dance. I loved it. I loved the whole thing.
But, you know, it's this idea of giving in to Russia. This is a realpolitik, right? All right, they're there. This NATO thing on top of it, it's like they should be in NATO. They want to be in NATO. They're a European country. They are so innovative. Speaking of drones, I mean, this was a technological, this was, to me, in 10 years, there'll be tons of technology going on there when this is all settled, which is a good thing, right? They'll create a really innovative, interesting.
But if they want to be in NATO, let them be in NATO. And the fact that Hegseth did this is, you know, we all want this war to end, obviously, especially for the people of Ukraine. Russia gets what it gets because it invaded. I'm sorry for people who died in the Russians, but I'm not. because they did it, right? So they have to pay their price. But, you know, to be attacked like this and then have us throw them under the bus is just...
Not a surprise. You brought a key point, and that is, while at the end of the day, we might end up with some sort of commitment to not let Ukraine join NATO, because there is... If you talk to Professor Jeffrey Sachs at Columbia, who I disagree with on almost every foreign policy viewpoint, he would argue that we invited, that Russia was backed into the corner because of the prospect of Ukraine joining NATO.
and maybe ultimately you know that you're not going to let them join nato and america for the most part gets to make that decision but you don't offer it up before the negotiations you maybe even say And one way we'll guarantee their security moving forward is incorporating the new Ukraine into NATO. And then Russia freaks out and says, OK, if you take, you know, if you give back 60, 70, 80 percent of the territory, you know.
You don't show up and negotiate against yourself and offer that up before you need to. That's why you do all the negotiating for us, because I'm always saying what I think on the top of my head. That's why I like working with you. You're always like, and then we do this. I'm like, what? Oh, all right. Okay, fine. Like, I don't know. Anyway, it's a shame. And I have to say, I have a lot of ground for Vladimir Zelensky. He's the most Churchillian character of this millennium so far.
Jam him out. That's the next thing. They're going to find a way to get rid of him and put a pro-Russian government in there. No question. I would say I have more confidence actually in the EU. I don't think, keep in mind the EU is a large economy. They have dramatically increased the military budget. and quite frankly they still remember what happens when an autocrat is let when you give him when you say okay
Here, you can have Poland or you can have this segment of France. Yeah, it feels very Chamberlain, doesn't it? It feels very Anthony Chamberlain to me. Anyway. Well, we'll see where it goes. But Pete Hegseth just reads things on a card, just so everybody knows. Anthony Chamberlain? Wasn't it Neville or was it Will Chamberlain? Neville Chamberlain. I'm sorry, not Anthony. Neville Chamberlain. Thank you for checking my historical references.
rare. It's usually that you're just the one telling me I got it wrong. I was thinking of a different Anthony because there's so many Anthony people. Richard Chamberlain from the Thornburgs. With one of the hottest women ever, Rachel Ward. We need to redo. We need to redo. I just talked about the Thorn Birds with someone when I was being interviewed this week from Australia because I'm going to Australia in a week. A love affair. His commitment to God.
I'm like, dude, just tell God to put— Just fuck her. Oh, my God. Take that shit down and let us watch. I know. Put it on cable and let them go at it. You're not going to believe this. I mentioned it to one of the interviewers from Australia. I'm like, I love Australia, thorn birds. And literally this person was maybe 12 years old. They're like, what's that? An Australian. I was like, I need to go now. You don't know thorn birds? I need to leave now.
Anyway, we'll move on from that. I don't know how we got to thorn birds from Ukraine, but there we are. Okay, the latest inflation numbers are out and they're higher than expected. Inflation rose 3% in January, the fastest monthly increase since August of 2023.
of eggs was a big factor in the increase, up 53% from last year, which is fine with Kara, as I noted. I'm not an egg fan. President Trump was quick to point a finger at these numbers, calling the Biden inflation up. Sorry, dude, you own the car right now. Expecting lowered interest rates, Fed Chairman Jerome Powell says inflation numbers show there's more work to be done. So Jerome was right and Trump is wrong. And now he said he didn't.
fixed the price of eggs on day one, which he promised several times, and now says it's Biden's and it'll take longer. What do you think about inflation right now? Obviously, we talked about it a lot in the Biden administration. It was a big factor in his loss. Well, I mean, first off, To be fair, you can't pin egg prices going up 53 percent. It's the avian flu or whatever it is. But if you look at if you dig in, inflation is sort of a crude number because there's core inflation. And if you.
If you really get to the nut of it, the thing that drove a lot of this kind of uncomfortable number, and it's probably the reason why the Fed is now pulling back on what they thought were going to be rate, or the market thought or anticipated were going to be rate cuts.
is shelter. Housing costs, including hotel and motel rooms, rose 0.4% last month. And I've always thought that And the Democrats need to get off their heels in whining and bitching and being outraged and get onto their toes and start proposing some really dramatic, forward-looking...
Because I think one of the reasons we lost Kara was that we were seen as a party of the past and everything's fine and let's hold on to our tradition. I sent you that essay. Did you get that essay? I don't read anything you sent me. It takes too much time, and it's usually exceptionally...
It's like 140. Well, you're articulating exactly what that piece said, but go ahead. 140 pace smeared over very woke toes. Okay. 140 IQ. It's very smart woke. It was like in economics. Anyway, go ahead. Anyways, so I do want to listen to the podcast.
economists. But anyways, the really exciting thing would be, all right, how do we implement a CHIPS-like act for housing? Because if you unleash the real economy, there's a lot of great... housing builders out there, Pulte, you know, there's a ton of, and say to them, all right, I don't know if it's 3%, 5%, 10% tax subsidy and also make it more difficult.
for residents to sequester new housing permits. One of the biggest... tragedies in american history i believe was we took housing permits out of the hands of actually the bureaucrats were trying to fire and we put it into the hands of housing owners who all of a sudden decided if i own a house i don't want any more new houses bill But a dramatic, I would love the Democrats to propose a dramatic.
increase the tax subsidy, whatever it might be, that increases housing supply well beyond its current demand and says within the next 10 years, we're going to bring housing prices down dramatically. You think Trump would do this, Mr. Real Estate, right? Studies like playing games in Ukraine. It has such a huge psychological impact on our youth because, and not only that housing formation, I don't know about you, when I...
When I was younger and trying to figure out a way not to get married, I said, okay, let's get a dog. And then I was like, okay, let's get a house. And when you get a house, it's really a commitment to each other and you start saving. It's a great means of... of creating more cementing a bond with somebody. Should you and I get a house together?
Let me think. No. Okay. My housing strategy is very straightforward. It's a 0.1% strategy. Wealthy people are the most homogenous, boring people in the world. And that is, I'm convinced, essentially income inequality is only going to get worse. And the 0.1% are incredibly boring. They all wear Hermes ties, they party in St. Barts, they drive Range Rovers, and they want to live in one of six or seven places. Sounds like you, but go ahead. Invest what you know.
And, you know, boner pills and two-headed glass dildos. I'm still looking for an investment there. Anyways, but back to real estate. The 0.1% all want to live in Dubai, London, New York, Palm Beach, Aspen. certain parts of LA, and then there's maybe two or three close seconds, and they're all crowding into a small number.
of homes. And in addition, the secondary benefit is I want to make it such that my boys can't avoid me. It's like, well, we can go to Tijuana and eat cheap lobster. We could go hang out at my dad's place where we have to have lunch with him. Anyways, I know how we got here. But Trump, the Democrats need a housing.
All right. But here's the thing. Will this inflation stuff going to stick? There's the tariffs, everything else, although they're kind of a paper tiger in that regard for now, at least. Is it going to stick to him? Because he made. so many problems about fucking eggs. He went on and on about eggs. Is that going to stick on him? Well, my heart says yes, but my brain says based on all previous track records. Yeah, nothing ever sticks this guy. If he can be found liable by a jury of his peers.
selected by both his defense and the prosecution and be found liable of sexual abuse, I'm not sure inflation is going to stick to him. I would think, but what I probably know, or what I feel is yes, what I know based on fact patterns is no. Yeah, so we have to offer positive things going forward. I agree with you. All right, let's go on a quick break. When we come back, President Musk takes center stage in the Oval Office. Support for Pivot comes from Atio.
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For a limited time, our audience gets $1,000 off Vanta at Vanta.com slash Vox. That's V-A-N-T-A dot com slash Vox for $1,000 off. Scott, we're back. Elon Musk joined President Trump in the Oval Office on Tuesday to discuss his work on Doge. I'm going to call it doggy from now on. I'm calling it Doge. Doggy. He gave a very casual explanation of what he's been up to. Let's listen.
I mean, these things, it's just common sense. It's not draconian or radical, I think. It's really just saying, let's look at each of these expenditures and say, Is this actually in the best interest of the people? And if it is, it's proved. If it's not, we should think about it.
Actually, in the best interest of Elon Musk, according to a lot of reporting, by the way, a lot of these cuts have to do with his businesses. And a lot of these attacks are mostly around things that affect him. He said he speaks to Trump almost daily and checks with him before making decisions. Meanwhile, Trump signed.
an executive order giving Doggie even more power. The order requires the Doggie team, I like saying it like that, to be stationed at every government agency to oversee hiring decisions now and will only allow agencies to hire one employee for every four that depart. Aside from that, that was the weirdest visual I've ever seen. His four-year-old was there looking, what Elon used to call this kid a cute prop, and that's what it was. And he kept talking to the president who seemed...
out of it. Elon was casually dressed, sort of pontificating, saying he made, so what if he made mistakes about the gossip condoms? Who cares? He makes mistakes. It was the strangest thing I've ever seen. And Trump looked like he was drugged or something. But I don't know. How were your thoughts on that? I'm a big fan of bringing Elon to work days. I think it's. I was praying that the little kid would start goose-stepping. I think that would have been fitting.
Papa, tomorrow belongs to me. Oh, no, don't make kid jokes. Keep it out. Keep it out. Even Grimes was like, that kid should not have been in public, you think? You mean the same? Hold on. I think it's the same kid he put on his shoulders as he walked through the gates that said, work will set you free at Auschwitz. Oh, my God. Okay. All right. Okay. All right. Talk to me about this. That's true.
Yes, he did. You're right. He used his kid as a prop at Auschwitz. Anyways, I don't, I'm a big, I think it's great when... people bring their kids to work, but when you use your kids, it feels like the kid is a bit of a prop right now. He is. Well, he's called it that. And look, I don't, it all again is like the gulf of distraction. And that is the inspector general who was looking into Musk's payments and business activities has been summarily fired.
Right. And I'm putting out a post tomorrow. Basically, what people don't realize is it's just so incredibly cynical because arguably one of the biggest welfare queens in history is Elon Musk. If you look at where a lot of these payments have gone. So a lot of this large S. So I find. It's pretty obvious I have a bias against the guy, but I thought it was smart for Trump visually to be sitting, like I'm more important than to have him there standing.
um i thought elon looked good i'm trying to be i thought i thought he had i thought that fashion was kind of cool the black hat and like the the the um you know the jacket, but I thought, and I actually thought he handled the questions relatively well. So, you know, probably a win for them, but I have a difficult time just to...
absorbing and processing any of this. See, I did not. I had an exact opposite. I was like, what is going on here? This is so strange with the kids saying things to Trump. I mean, a lot of people put words in the kid's mouth. One was, you need to shush now. How much of that was real? I don't know. I'm not even going to go. He was talking to them.
the president saying something. He was saying something, and the kid shouldn't have been there. It's such a weird thing to do that, and I don't care. You can attack me all you want. This is not an appropriate place for a kid, largely for the kid's sake, not for you shouldn't have kids. at work or whatever. It's just, it's weird. It's weird and the kid is going to suffer for it. No, I'm going to make that parenting.
declaration right now and his own mother said the same thing by the way uh but whatever musk wants to do it and he gets to do whatever he wants It was disrespectful to the office of what they were doing. I still believe that. I still believe in that, even if you don't or people don't. I do. Secondly, I thought Trump looked. old next to musk and it looked like musk was running the government that i thought that's the visual i got out of it
But maybe that was different. I think actually Trump, given the fact that he is that old, I think Trump is remarkably robust and good looking for people. Sure is. So why was he sitting down and just looking out of it and saying nothing? I think it was sort of a power move.
but a couple of things come up. One, the kid was totally distracting for me and he's doing, I do the same thing. I put out pictures on social of my dogs. One, because I think they're great and they are beautiful dogs. And two, I think it makes me more likable. i do the same thing so i understand what he's trying to do the thing that propped up in my mind is i have good friends who
And I got this practice from them. Every five years, they sit each other down and they say, logistics and money aside, which is a position of privilege, what could we do that would make you really happy? And my friend said, I think it was about five years ago, I'd like to sail around the world with the family. So they spent two years planning how to homeschool their kids on a boat, how to build a boat that could circumvent, navigate the globe.
And they did it. They circumnavigated the globe. And there were some exceptionally scary moments involving pirates, rough seas, when you got like a seven-year-old on the boat. If the seven-year-old goes over, there's no getting him back. And then...
And what they said to me was, I said, would you do it again? I tried to talk them out of it. These are good friends. I'm like, I just don't think this is a good idea. I wouldn't do it. And there's certain bodies of water. I would just take a plane. You don't need bragging rights. You're both incredibly impressive people.
And I said, would you do it again? And they said, not until our kids could give consent. Because they said there were just some moments that were very scary. And I feel the same way about this. If you're the president and you have children, it's one thing to have those moments. But I don't know. Do you really take your kid to a concentration camp? Yeah, you're focused on the kids. I'm focusing on Elon. I agree. This kid should not have been there. I thought the whole thing was so fucking weird.
It was weird. It was just a weird thing. And I thought Trump did look aged. I don't think he looked powerful. I thought he looked. Like the kid and he were just overplaying with blocks over here and Elon was running the government. Anyway, OpenAI CEO Sam Altman has some harsh thoughts about Elon Musk after his bid for the company. There's a lot of legal back and forth this week, by the way, about this. There's a lawsuit.
And then Musk made a bid, which seems like a fake bid. Either it's a fake lawsuit or a fake bid. I can't tell. But let's listen to Sam Altman. Do you think Musk's approach then is from a position of insecurity about ex-AI? Probably his whole life is from a position of insecurity. I feel for the guy. You feel for him? I do, actually. I don't think he's like a happy person. I do feel for him.
The backhanded compliment. Well done, Sam. In court filing, OpenAI has said the bid contradicts legal claims. Musk made a lawsuit against the company last year. In fact, it does. Musk now says he's willing to drop the bid if OpenAI remains a nonprofit. By the way, there are emails.
where Musk indicates he wanted it to be a profit company. So he's just, whatever works for him, he says at the time. As of Tuesday, Altman told employees the board hadn't received an official offer from Musk, which is probably true. I'm going to believe Altman here over Musk.
You know, he's just trying to slow him down. That's what it seems like. He'll say whatever it takes to slow open AI and drag it into controversy and take advantage of people either who have left open AI or who have ill feelings towards Altman, etc. Which is going to be many. Yeah, I think Sam has shown a great deal of discipline around his comms and his brand. I think he's screwed up here.
Whether it's true or not, it might have felt good to say, I feel for the guy, and yes, he's insecure. I think he just sort of said, the offer isn't a serious offer, and I have no idea what's going on with Elon Musk.
Sam has taken so far the high road around this and he should continue to take the high road. He shouldn't take the bait and say, because that's basically saying he's insecure and it must have felt good. And I get why he would do it. He's probably so sick of this guy. I think so. That wants to deploy law firm. instead of actually competing against him. And it's like this poltergeist who will not go away. For all of us. That's absolutely fair.
But Sam's brand is, Sam comes across as the adult in the room, and he's very restrained, and he errs on the side of taking blows. And I don't think he should go there and say, I mean, that was... Passive aggressive minus the passive part. Oh, no, that was like, what an asshole. Yeah, I watched how he did it. I've seen him do it before. You know, these sideways.
attacks and they're funny. And he's like, oh, I feel sorry for him. He's such an asshole. I feel sorry that he's an asshole. Yeah, but I think the bright answer would have been, of course, we had our lawyers look at it. We don't think there's any merit on it. We're focused on building great products. So I'm not here to psychoanalyze.
Which one do you think, this is just about slowing down. Both of us think that, but it's just about slowing down OpenAI, not a real lawsuit and not a real bid. Possibly could be though. Yeah, but the only thing is, if you're a public company and someone makes a bid for a certain class of shares is the way I would describe this.
Then you have a fiduciary obligation to put together a special committee and look at. And I don't know if they have debt, if that changes anything. It's not clear because it's a nonprofit if they have a special responsibility, but go ahead. But when you're basically a private company and everyone's making so much money.
I just, unless there's someone on the board of the nonprofit that also hates Altman, which might be the case, and wants to create trouble. Now we sort of stacked it with friends of us. And they can pretty much do whatever they want. They don't, a public company has an obligation, the board has an obligation to.
get the highest offer and look at everything. A private company is basically a private company and they can kind of do, you know, the shareholders, the shareholders as represented by the board can kind of do whatever the fuck they want.
And I can't imagine any of them are going to go, yeah, let's bring Elon in. Well, in the case of Twitter, there was a really good, there's been very good reporting when the CEO at the time, Agarwal, said, we have to look at this offer. It's an offer. It's a huge offer.
I'm sorry to say we don't have a choice, even if he's an asshole, essentially. And then they had to take it because it was so good and ridiculous and so above their thing. In this case, they can do whatever they want. And it's not that far above it. And maybe the nonprofit gets more. Money or something like that. But they'll be lost. He'll just keep throwing.
Listen, Elon Musk has two moves. I'll buy it or I'll sue you. These are his two, like, big moves. And sometimes it works and sometimes it doesn't. He doesn't have the money to buy. Because if he were to buy it, he would have to... Look, the more interesting kind of thing that no one watched, I actually read or looked at, which is Latin for having one of my analysts read, the earnings call from SoftBank.
And a bunch of people asked questions about this anticipated investment in OpenAI at a $300 billion pre-money valuation. And basically, in so many words, they said, what the fuck are you thinking? Can you please explain this? And what will be the structure of the investment? So I'm now beginning to think that that investment might be at risk because a lot of the analysts on the call were...
What are you doing? This makes no sense. So for the first time, I'm now wondering if SoftBank actually reduces their commitment to that. Right. Right. That's exactly what Musk wants to happen, right? That's exactly what he wants to do. He wants to cut them off at the knees. He's very clever that way. All right, Scott, let's go on a quick break. How DeepSeek is threatening Teslas next.
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We're taking Box Media Podcasts on the road and heading back to Austin for the South by Southwest Festival March 8th to the 10th. What a thrill! We'll be doing special live episodes of hit shows, including Pivot. That's right. The dog's going to the great state of Texas. Where should we begin? With Esther Perel. A touch more with Sue Bird and Megan Rapinoe. Not just football with Cam Hayward.
and more presented by Smartsheet. The Vox Media podcast stage at South by Southwest is open to all South by Southwest badge holders. We hope to see you at the Austin Convention Center soon. Visit voxmedia.com. SXSW to learn more. That's voxmedia.com slash SXSW. Scott, we're back. Chinese electric car company BYD is bringing DeepSeek technology to its vehicles, of course.
The EV maker has added advanced driver assistance systems in most of its vehicles, including a model that costs under $10,000. They also continue to be adorable. The cheapest Tesla model on the market is $30,000. Tesla stock is down 17% in the last month. people are actually doing math and not thinking.
that Musk's ascendance will benefit Tesla necessarily. You know, he's a CEO, but he's focused on a lot of other things. Scott, this week you talked to Alice Han, Chinese economist and director at Green... about this very thing. Let's listen. How is our player Tesla domestically, who has its own manufacturing in China, faring against BYD domestically in China? Not well at all. I mean, the fact that Tesla is still there surprises me somewhat, given its price point.
and the fact that all these companies including Tesla have had to cut prices over the last few years because of the extremely competitive price wall landscape. I think it's only a matter of time before that share starts to diminish even further. It's going to be an open-end question. And now this is going to be based on the politics of it all, whether or not
Elon Musk gets these autonomous vehicle licenses. Explain what she was saying there. And by the way, her accent is fantastic. Oh, I cannot tell you how impressed I am with this, with Alice Han. She's my find. Occasionally you find somebody and you think. This person is a genius and I want to give them more sunlight. She's one of those people. Anyways, she's essentially said that, I mean, if you look at what's happened to Tesla in Europe, it's not much better in China.
In January, retail sales of Tesla in China were 16% lower year on year. Why wouldn't you buy a BYD? They're great cars. And get this, 60% lower than in December. So, I mean, BYD, and BYD is now the number one EV car manufacturer in the world, going to a much broader point here. I think that the most important relationship that could evolve hopefully in the next three years, let's assume that Trump, supposedly he desperately wants a Nobel Prize. And so let me go to advising.
the president in a hopeful way. The most obvious way would be to solve the civil war in Sudan. Threaten both sides, work with both sides. The other way would be if China and the US kissed and made up, the I mean, have you seen these cars? These cars are $10,000 EVs.
and really good. They're adorable. As long as they're safe, they're going to raise questions. I've had people write me about whether they're safe or not. Oh, okay. I'm just saying, they have to be if they're here. For another $2,000 or $3,000, you can install a lot of airbags and a lot of... of safety features. And in addition, I would even go further than that. I would create a bilateral AI commission where we, I mean, supposedly 38% of AI engineers are Chinese in the US.
And when we don't cooperate with them, they develop their own ships. They have incentive to do things kind of in and around us. I would have a bilateral AI similar to what Oppenheimer's vision was for nuclear, where we share everything with each other, but we also commit to ensuring that AI is not used to create bioweapons by third parties or bad actors. Because all we're doing is motivating the other to figure out workarounds to attack the other.
The most important relationship in terms of a thawing right now would be the first and second largest economy. Talk about these autonomous vehicle licenses. He needs them in China, right, if he can get these from the Chinese. Yeah, but here's the Chinese playbook, and it's happening to Tesla. The Chinese playbook is very simple. Oh Google, oh Meta, come on in.
And then they watch, listen, and learn. And then they steal their IP and prop up a local entrepreneur and capture the most of the value for the domestic market. And I think the same thing is happening to Tesla. I can't imagine a lot of that IP from Tesla didn't end up at BYD. I don't know about that. I do think that I am of the field. I agree with you about sort of the fast follower, right? The planes are covered with the bodies of pioneers, that kind of thing.
That said, I do think there's a ton of innovation. You can see it through TikTok. I think what Alibaba has done, there's a lot of innovation there, too, of their own, but they definitely wait, watch, and then innovate. And battery, too. Yeah, I don't think they necessarily steal every minute of the day, but there is that. But these cars are very different than anything I've seen. So it's not like they're copying.
Right. They're sort of copying, but there's also innovations around it that I have never wanted to buy a car more than a BYD car. And I love my Ford. I love my my Bolt, as you know, and I do. I think it's adorable to BYD sales plummet after podcast.
You have the worst taste in cars. I know, but have you seen them? I like their inexpensive. They're beautiful. They're super cool. And they're cool. And if you're a young person, you'd want one. 100%. In a second, they look like, I don't mean they're.
They're kind of like the... It's like the new VW Bug, but with technology. It's a Uniqlo of cars. Great analogy. You know, like whenever you're going to Uniqlo, I buy 10 shirts. Like, they love them. And I have to say, I love them. I don't think I'm using them as just throw them out. They're just... expensive and adorable. I just, I mean, I look adorable, by the way. It's the car equivalent of fast fashion. We have figured out supply chain to just bring you something for dramatically less money.
And as long as they figure out the safety, which they'd have to in this country. I agree. I think he's just, here's the deal. Musk does not make cars that are interesting anymore. That's all. It's an interesting car. It was an innovation. You have to update these things for consumers. I don't think he cares about the cars anymore. That's my feeling.
Some better news for Tesla and Marco Rubio in a totally normal deal that had no strings attached. The State Department procurement forecast for 2025 includes $400 million in armored Tesla vehicles. At least someone is buying them besides. douche nozzle men. They tried to hide it. They had Tesla on there. They changed it to armored vehicles and their cyber trucks. Nobody...
else wants to buy them. A small group of consumers do, of course, as there would be, but it seems like it's one of those things people buy. It's weird and interesting, but nobody is buying them and there are very few people are buying them and now the government is buying them. Another gimme for Elon Musk. The grift keeps grifting, I feel. Yeah. That's exactly right. The only thing propping up Tesla stock right now...
and his wealth is this basic, the market has said, this is now a kleptocracy and your proximity to power is more important than your innovation. Right, so they're buying them from him. Yeah, and also firing people who are investigating the company. and getting rid of them. I guess that's a plus. Yeah, it's even, unfortunately, it's even, and this isn't in the script, but I'm just curious to get your quick reaction. Have you been following what's going on with Mara Adams? Yes.
Yes, please do. I mean, just paper fillet. He's not going to be mayor soon. That's the thing. He's out. Don't you think? I feel like he's not going to be. God, I hope so. Oh, come on. Nobody in New York likes him. I agree. No, I said I hope so. Yeah. I mean, essentially, what's effectively happened is he's instructed the DOJ. or to drop all prosecution efforts against Mayor Adams. And in exchange, Mayor Adams has agreed to comply.
with all efforts by ICE to capture or retain or detain and deport. So what you have is I'll make sure that you are not subject to the same laws that every other citizen is subject to if you agree to go against your constituents and let our ICE people into, who knows, churches or schools. I mean, this is...
really fucking ugly. Oh, no, it's utter pain. You know what, Eric Adams, you're a crook. Like, you're a crook. You're a shitty crook, by the way. You only want tickets to Istanbul. Like, what a loser. You know, I know you're backing a...
particular candidate in New York. I forget who it was. Who was it? Whitney Tilson. Yes. But there's a bunch of people running. You know, there's a bunch of people. The guy who will probably win is when Andrew Cuomo actually announces that he's in the race. But there's a bunch of very good candidates.
who are not going to be criminals. It's a bunch of out-of-control progressives. One pragmatist named Whitney Tilson. Whitney, who is a pragmatist, would be a great mayor, but probably doesn't have the name recognition. Governor Cuomo is going to come in and probably just lock it. But Kathy Hochul has, I believe, the power to remove Mayor Adams, and she should. She should. This is corruption at the highest level. Yeah, they should make an example of him.
Hunter, this is really, and by the way, I was a supporter of Mayor Adams. I thought the case against him was quite frankly overdone. I did not think what he did. rose to the level of... I don't know how the media was portraying it. I know. I think he's grifty McGrift from the go. He wasn't living there. Everything came out of his mouth was a lie, this guy. And he's such a ridiculous peacock and surrounded himself with such... I get New York mayor has to be... like a little bit grifty, but.
This guy was like grifty ish, you know, they all are. I mean, come on. I mean, but you know, like he's just, he's an embarrassment for a great city. He won a little greatness out of a mayor of, you know, even back in the day, Rudy was not. Actually, you know what? I didn't support Rudy. He was the thug to a lot of people. But it's so damaging to the Democratic brand because the Democratic brand, unfortunately, has been tarred with a broad but fairly fair brush of...
Every democratically run city on the West Coast is a fucking shit show. They ignored drugs, they ignored crime, and the quality of life is... awful. I said two years ago, if I were Fox, I would just broadcast live from downtown San Francisco every day. And so the center of democratic branding for politics moved to New York, which is actually performing quite well and still offers is still.
the best place in the world to go in terms of a crush of opportunity, culture, nightlife. New York really still is the best city in the world and represents the best of America and thereby the best of the Democratic Party. And now we have this bullshit. So it's really damaging on a lot of levels. I think Governor Hochul should move in and say, do a press release and say, I'm removing him as mayor. Who would you put in place?
No, you know who I would ask? That's a good question. I just thought of it. I would ask Mayor Bloomberg to step back in. Oh, good idea. I love it. Six to 18 months until there's a special election. Great idea. Love it. All right, Kathy, get on it.
All right, last thing. The Gulf of Mexico is now the Gulf of America, at least on Google and Apple Maps in the U.S. Apparently, there are consequences for not using the new name. Associated Press reporters have now been barred from multiple White House events after AP continues to use Gulf of Mexico in its reporting.
The AP is calling this a violation of the First Amendment, but Press Secretary Carolyn Levitt, also known as Tracy Flick, says we reserve the right to decide who gets to go into the Oval Office. Oh, my God. It's so stupid. Distraction, distraction, distraction. I'm going to call it the Gulf of Scott. I don't give a fuck what people do to me if I do that. You saw my thread or whatever it is. I can't keep track. I just put out Gulf of Distraction. That's all this is.
Who cares? I don't, fine, call it that. I just don't. It's so stupid. It's so stupid. It's so manifestly stupid. And I'm sure, I don't even think like, oh, yay, we're calling it the Gulf of America. Whatever. Yeah, we'll show them. We'll show them. I got to tell you, I'm loving the new president of Mexico so much. She's such a badass. I'm going to try to interview her. Yeah. Sheinbaum. She's like, fuck you. But at the same time, she deals. She's a dealer, too. Anyway.
It's a distraction. Googly, you look like wimps, but whatever. And nobody looks good. I'm going to call it the Gulf of Scott. That's the end of it. All right, everybody? I appreciate that. Gulf of dog. Dog golf. Doggy. No, dog. Gulf of dog. No, I like Gulf of Scott. No, Gulf of Galloway sounds good. Right. Gulf of Galloway. Make America Scottish again. It feels like Ponce de Leon would have named it that. Gulf of Galloway. Anyway.
All right, it's time for this week's Threads poll. This one's open-ended. What do you wish Democrats would do in response to the Trump administration's actions? What do you wish? We've had our opinions on that. Something besides standing in front of a building and yelling, that's for sure. Visit us on threads at pivot podcast official to answer. By the way, have you noticed AOC is not outside of the buildings? She's not.
Have you noticed that? She's very calculating. She does great online stuff, I'll tell you that. She heard Pete are killing it. She's not going to be on the... go to the alumni cheerleading day where they have all these very cute 95-year-olds dressed up in pom-poms. She's an actual cheerleader. She's a gangster. She and Pete Buttigieg, I have to say, are...
Very appealing. They're in the background managing their brand really strongly with an eye on 28. And they're not going to like go down in some sort of like angry near zombie apocalypse movie. Yeah, they're too smart. We would love our listeners to write in what do you think they should do. And no violence, please, if you don't mind. All right, Scott, one more quick break. We'll be back for predictions.
The Republicans have been saying lots of things. Just yesterday, their leader said he wants to own Gaza. The U.S. will take over the Gaza Strip and we will do a job with it too. We'll own it. On Monday, the Secretary of State said an entire federal agency was insubordinate. USAID in particular, they refused to tell us anything. We won't tell you what the money's going to, where the money's for, who has it. Over the weekend, Vice President...
Elon Musk, the richest man on Earth, tweeted about the same agency that, you know, gives money to the poorest people on Earth. We spent the weekend feeding USAID into the wood chipper. Could gone to some great parties. did that instead. But what have the Democrats been saying? People are aroused. I haven't seen people so aroused in a very, very long time.
That's a weird way to put it, Senator. We're going to ask, what exactly is the Democrats' strategy to push back on Republicans on Today Explained? Over the last few weeks, America's health and science agencies have been shaken. There's been funding freezes, communications gag orders, censorship of research. It's really a chaotic picture.
I am really scared. The United States was the best place in the world to do science, and that has never felt more threatened in my career than it does right now. This week on Unexplainable. What does all this mean for the future of science in America? Follow Unexplainable for new episodes every Wednesday. This week on Prof G Markets, we speak with Alice Hahn, China economist and director at Greenmantle.
We discussed the potential impact of tariffs on China's economy, how Tesla is faring against BYD, and how a Trump presidency could shape China's foreign and domestic policies. Trump is the biggest dove in a house full of hawks. Everyone else around him wants to push him. towards being more hawkish in China on trade, on tech, on military. And I sense that, you know, whether it's Rubio or Hegseth,
or waltz, they're going to try to push the agenda of being tougher on China and having more deterrence vis-a-vis Taiwan. You can find that conversation exclusively on the Prof G Markets podcast. Okay, Scott, let's hear a prediction. So, you know, a broken clock can be right. I was a prediction machine last night. I wrote it much down. You did? What happened? What were you taking? No, I was actually sober, which was kind of frightening.
When I was talking about, when you said that fuck, marry, kill thing, and I was talking about making sweet, sweet love to Mark Zuckerberg. You're still thinking about it, aren't you? Oh my God, I can't get off it. Grabbing that chain, riding him like a... dog and singing who's self-harming now you wanton bitch oh my god my nipples are getting hard and at that moment at that moment i thought maybe i don't need drugs maybe i don't need drugs anyways
This is all going to come crashing down, Kara. Anyways, last night I had— I'm getting notes from Lara saying no, no, no, but I say yes, yes, yes, and therefore— Oh, if that's wrong, we don't want to be right. Oh, you don't. All right, go ahead. Prediction. I think Tesla is about to experience its real first major existential crisis. Sales off. Oh, gosh. Here you go again. They're off. Here I go again. I can't help it. I can't. I'm an addict.
They're off 20 to 60% across European countries. They're off 50% in China. EV demand appears to be plateauing. They are getting the shit kicked out of them. By BYD, they haven't really released a new mass adoption product in about seven years. Have I been saying that? I have been saying that. And they have what is right now the worst brand ambassador.
in the world. Or the people that want to buy those cars. Yeah. And then my more boring one is I really think Google is going to, you're about to hear a lot of stories about Google search. share falling below 90% at the hands of Perplexity, ChatGPT, and also uh reddit and i was even thinking just as youtube has become the ultimate distribution platform in 2025 i think in 26 it's going to be reddit there's just a bunch of like there's so many moons lining up
right now. I'm really, anyways, I think that Tesla is about to have I can't help it. I'm just going to say it now. Tesla stock is going to be below 200 in the next six months. You're going there. You're fine. You're going there again. I love you. Once more into the breach, Scott Galloway. At some point, I'll be right.
Well, the numbers are, the math is math, right? Look, before they were on the upswing in terms of like the quality of cars, what they were releasing. Instead, they're forced to sell things to Marco Rubio, who has to do whatever everybody says because he's such a... such a beta. Just so you know on that thing about
search. Atlantic Politico Vox, Jim Bankoff sent me this, and other major publishers are suing AI startup Cohere for copyright and trademark infringement, escalating the news battles, legal battle over the technology. That's from the Wall Street Journal. It's a Canadian company. It's valued at $5 billion, and they're using thousands of copyrighted works to train its large language model. Hmm. Anyway, we're suing Tim Bankoff on the attack.
Atlantic, Politico, they must have coordinated it all together. All right. So those are your two, that searches. Those are good. Those are big ones. Those are big ideas. We'll see, right? Yeah. We'll see. Someday you're going to be right. Anyway, you are right. You were right before in terms of the numbers. It just didn't matter. In this case, we'll see. We'll see what happens. Do you have any thoughts? Any predictions? Predictions? I predict I will buy yet another EV this year.
I will. The key is getting a little long in the tooth. And I'm trying to debate whether to get the hybrid, which I think is really, hybrids are growing like crazy. Oh, you know what we should do? What? And I'm serious about this. Alice, who...
I really respect, I would even call her a friend, a China analyst, Alice Han. She said, Scott, you should really, I haven't been to China since 2019. And I was saying, I was so excited about China and I went there probably two, three times a year and I haven't been back since 2019.
And she said, I'll take you. It'll be a ton of fun. And you'll meet with some interesting people. You and I should go to China and you should pick up your BYD and see if you can get it back to the U.S. Oh, interesting. And pay the import, pay the tariff and bring it back. Let's go to China. I bet we're popular in Hong Kong.
You know, we did one of my conferences. I had a stroke there, as you know. Last time I was there, I had a stroke. Yeah, the International Tourism Board, that's not going to be on any billboards.
Want a stroke? Come to Shenzhen. No, let's go to China. Let's do it. That would be really interesting. We should do an event in China. China, we want to come visit you. And we're going to bring, we're going to drive a BYD. We're going to drive it across the ocean. Reach out to us. Reach out to us. We're coming to China. We'll do an event, whatever you want. And I've heard that the CCP is actually a good organization because I can't find anyone who would say anything else.
Bring us to China. Bring us to China. They're so good. All right, let's do it. Let's do it in 2025. After we see Wicked. After we see, we're going to see Wicked, my friend. We could see Wicked in Beijing. That'd be interesting. Are they to let people? It's all about a surveillance economy. I wonder how big it is. I have no idea. Do you know what, what are you doing this weekend? Anything interesting? What am I? Oh yeah, I'm going to, um.
It's funny, I pause there because I feel like I rub my wealth in people's face. I'm going to Zermatt. I'm going to Zermatt on Saturday. All right. That's not very far from where you are. And I'm really excited. Supposedly we have this ridiculously hot ski instructor. Okay.
You know where I'm going? I'm going to SNL's 50th concert. Really? Is it a concert or a showing? No, there's going to be a show on Saturday. I'm just going to the concert the night before. It's at Radio City Musical. That sounds really cool.
Anyway, we want to hear from you. Send us your questions about business, tech, or whatever's on your mind. Go to nymag.com slash pivot to submit a question for the show or call 855-51-PIVOT. Okay, Scott, that's the show. We'll be back next week with more Pivot.
Please read us out. Today's show is produced by Lara Neiman, Zoe Marcus, and Taylor Griffin. Ernie and her Todd engineered this episode. Thanks also to Drew Bros, Ms. Saverio, and Dan Shulon. Nishat Kroos, Vox Media's executive producer of audio. Make sure you subscribe to the show wherever you listen to podcasts. Thanks for listening.
Pivot from New York Magazine and Vox Media. You can subscribe to the magazine at nymag.com slash pod. We'll be back next week for another breakdown of all things tech and business care. Have a great weekend.