Gloria Romero is Running for Lt Governor - podcast episode cover

Gloria Romero is Running for Lt Governor

May 27, 202639 min
--:--
--:--
Download Metacast podcast app
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more

Episode description

John talks the Governor's Race with Gloria Romero

See omnystudio.com/listener for privacy information.

Transcript

Speaker 1

And we continue at two oh five in the afternoon on the John Phillips Show. Mister Randy Wegg is off today. His flight was canceled and he's stuck in Dallas. So maybe he's hanging out with Mark Cuban.

Speaker 2

I don't know.

Speaker 1

Eight hundred two two two five two two two is the telephone number one. Eight hundred two two two five two two two. It is my pleasure to welcome our next guest to the program. She is the former majority leader of the California Senate. She's also a candidate for lieutenant governor here in the state of California. You can get her online at Gloria Romero the number four ltgov dot com and you can follow her on exit.

Speaker 3

Gloria J.

Speaker 1

Romero, Senator Gloria Romero, welcome, so good to be with you.

Speaker 4

And I wish Randy a good time in Dallas.

Speaker 1

Well, if you want him to come back, tell him to buy a ticket on an airline that's not American.

Speaker 3

All right.

Speaker 1

We are are exactly one week ahead of the election. People are filling out their ballots right now as we speak. As the ballots went out in the mail to every registered voter in the state, of California. I think the voting centers have opened up as well, and of course people can vote on election day as people are making up their minds right now, make the case why should people vote for you for a lieutenant governor?

Speaker 5

Well, I think the voters are ready for change, and we see this on the right track, wrong track, pulling consistently whether you're a Republican, a Democrat, independent, we are finding that Californians are sick and tired of being sick and tired.

Speaker 4

We want change.

Speaker 5

Essentially, it's a referendum on one party monopoly rule and Gavin Newsom. I mean, we find number one in homelessness, number one in taxes, number one in crime, and yet at the bottom of the barrel when it comes to literacy and school achievement. You know, on top of it, listening to your previous segment, that about the whole covering up, the hiding the numbers and then.

Speaker 4

The cover up. And if we take a look at.

Speaker 5

Why why voters for no other reason except these that I'm about to say, should vote for change, which means don't vote Democrat anymore. Vote Republican. Gloria Romero for Lieutenant governor. I've urged Steve Hilton for Republican governor. But we take a look at the so called bullet train, the bullet train that we know has cost already an estimate two hundred and thirty billion dollars and they've now released the bullet train is probably going to turn into a high

speed bus. That's crazy. But it doesn't stop with the bullet train. You can go into these hospices. We haven't found leering centers in California, but it might be worse. We found hospice centers where basically you go to say I want to have peace until I finally, you know, expire and die going to the next world.

Speaker 4

We found that.

Speaker 5

They have hospice a center in a burrito stand, I mean a burrito stand. John, think about the crime that's there, and then you take a look at the unemployment fraud that was taken away, the so called also hearing age that turned into a sham. There were supposed to be emergency nine to one one upgrade that went down the drain. And what about the diapers, I mean the diapers that Gavin Newsom's first partner was basically going to profit off of in her so called nonprofit I mean, the giveaway that.

Speaker 4

Costs more than if you just walked into.

Speaker 5

Your local target and bought. So this is all of like the books, the waste, the fraud, the abuse. But you know what I think is even more important why voters should just turn away is that this administration and if this happened for a while, are hiding the books. They're not only cooking them, they're hiding them. And what do we mean by got well, how many of us know that the administration hired some very fansors I think it was Italian tile, to put into this new annex

in the Capitol. They created secret passageways so the members cannot be confronted like by the.

Speaker 4

Ashley Zabalas, you know, the reporters.

Speaker 5

And Sacramento who want them to answer questions. We find that they still refuse to release all of these secret settlements with you know, compromising situations allegedly between members and their staff. And we're finding now too that they're even running legislation to hide from us the cost of the so called bullet train to nowhere.

Speaker 4

So it goes on and on and on, and.

Speaker 5

We're just saying vote different. You know, this is insanity. It's not going to change unless we are willing to break one party rule.

Speaker 4

So I invite your listeners.

Speaker 5

If you know, if you're happy with your government, you can keep your government. But if you're unhappy, give us a chance. Vote differently. Vote for a Republican who understands that people deserve better government. If not how much we spend, it's what we get out of it. And nobody is getting anything good.

Speaker 4

Out of this government.

Speaker 5

So that's the pitch, and I ask people to turn out and vote. It's going to continue if we don't stand up and just say enough.

Speaker 1

As majority leader, you have worked very closely with multiple governors here in the state of California to do things like get budgets through and make the state function. We have an absentee landlord governor who is running for president and doesn't seem interested in the duties of his office, and it seems like that attitude has trickled all the way down to the other statewide constitutional officeholders and even

in the state legislature and to local government. One of your opponents in the race is the state Treasurer, Fiona ma who is running for a lieutenant governor because she's turned out a straight state treasurer. And you look at her social media accounts. She has a lot to say about Donald Trump, She opines about federal issues, she opines about ice. But if you're the treasurer when all of the fraud that you just described took place on your watch and you didn't seem to care. You weren't out

blowing the horn. You weren't trying to use the power and the duties of your office to stop it from happening, to prevent taxpayers from being fleeced. You were perfectly happy to go along and get along and allow all of these criminals to enrich themselves and allow taxpayers to have their hard earned money stolen from them by these bad actors.

It seems like Gavin Newsom's attitude has trickled all the way down to every layer of government here in California, and it's like a answer that's killing the state.

Speaker 5

You're exactly right, John, And that's how egregious it is. And the cynicism not of the people, not of the voters, but of the rulers, you know, the monopoly, the so called you know, no king's chorus that says we have to do better. They basically have a disdainful attitude towards the people of California. You mentioned Gavin Newsom. You're absolutely right.

The guy is missing an action. He's on a delusional tour that he can be made president and nobody will notice his failed record in California.

Speaker 4

The guy is a.

Speaker 5

Joke, but he's hurting us painfully. But then you take a look at the current lieutenant governor who is running for treasurer. When the governor is out of state, it's the lieutenant governor who should take over. Has anybody seen her? Has anybody heard from her? When the governor is out of state? The lieutenant governor has authoritative powers, I tell you, and I'm lutenan governor. I'm not going to be invisible

if we have another drifting type governor. I don't think we will if we elect a Republican, but stay tuned, we might if we elected Democrats. But the current lieutenant governor is as much missing in action, she's even more invisible because the people don't even know that there's an

acting governor invisible. So she's running for office. You mentioned one of my opponents, the treasurer, who is running for office too, and she also has some real problems out tied allegedly to a donor from China who is trying to buy high school diplomas from a local district. Allegedly, I'd say, but that track record looks pretty strong in terms of evidence. So she's running for office, just running

about Orange Man bad. Then continue on it. You have an attorney general failing to curb in any of the crime.

Speaker 4

He's out running for his own reelection.

Speaker 5

Then you have the Secretary of State out running for re election. Then you have the controller who's not controlling any of the ways the fraud and abuse, out.

Speaker 4

Running for reelection.

Speaker 5

Then you have the worst of them, the superintendent of public instruction, who thinks because he has run a school system into the ground, it's failing. Over fifty percent of the kids can't read, or write or do math, and he thinks he can be governor. He's out running for this position. So when you stop and you look at it, John, all of them are running for themselves, like the public be damned. Can I say that on radio? I'm not sure of It forgets the public and you have to

wonder who's running the state of California. I will tell all our listeners right now, we are on our own. The monopoly rule has basically taken us for granted. We have to stand up, speak up, show up, mail your ballot today or drop it in a dropbox or walk it in to a voting center or on election day.

Speaker 4

It's us if we want.

Speaker 5

Change, we have to throw these bums out because they don't care about us. They care about their own careers, and their record of not showing up is exactly what we have to tell the people. As a final reason, then throw them out of office.

Speaker 4

Let them go somewhere else.

Speaker 1

The Lieutenant governor's office is a largely ceremonial office where the real power comes if the governor were to die in office, take another job, become incapacitated, leave the state for a long period of time, whatever. The last time the lieutenant governor has taken over was when Goodwood Night Goodie Knight took over when Earl Warren was appointed to the Supreme Court by President Eisenhower. However, this time around

it could happen again. And I say that because in recent polls, Javier Bessera has started to move up and he is placed in the top two in several recent polls. There's a chance a good chance maybe that he could make the November ballot. There's also a chance that he could be indicted by the federal government, as we have seen his chief of staff cut a deal with the

Feds for corruption. We have seen Dana Williamson, who is the chief of staff, former chief of staff, I should say of Galvin Newsom, who has worked closely with Javier Besserra on his various political endeavors, also reportedly cutting a deal with the Feds, and a third person very close to Besserah is also in trouble right now with the

federal government regarding corruption. If he were to be indicted, my guess is there's a chance he could have to resign from office, or if he's convicted, maybe he would go to federal prison. Do you see that as a possibility as you've run for the office of lieutenant governor, It is a very real possibility.

Speaker 5

And the position of lieutenant governor number two in the state of California has always been overlooked. It can no longer continue to be overlooked, and so we need to get somebody in there. I believe it's me who's independent. I am a Republican in terms of my political registration, a former Democrat who saw the failure of a Democrat party unwilling to stand up for California's middle class and working class, dictater to far left special interest and I,

as they say, the party left me. I walked away though eventually and just said no more. The people deserve better. But we need to have somebody in there who won't just replicate the same policies of the corrupt administration that we see in one that may come after us. So you're exactly right on the question of the role of the lieutenant governor. I think historically it's been treated as

sort of a Seinfeld, a job about nothing. But I also believe that this has every potential if you get a strong person in.

Speaker 4

There who knows what can be done, who knows where the bodies are buried, the rules of the game.

Speaker 5

How to work budget, how to work across the aisle, Republican and a Democrat as well, because once you finish the campaign.

Speaker 4

You have to govern, and that's one thing that I know how to do.

Speaker 5

And the time that I spent in Sacramento before people know that I worked across the aisle to get tough things done, like even some significant education. Before that, I worked with with a governor of a party of which I was not a part of at that time. So you've got to get some good, strong people in there who are fair, have integrity, and who believe in sunshine

in government. And that's something where I have a track record on writing laws, bringing forth legislation that allows the people of California to see what their own government is doing, unlike what we see happening today and Sacramentum.

Speaker 1

Let's switch gears here for a second, because we do have some hard numbers in terms of what ballots have been.

Speaker 3

Returned and who's turning them in.

Speaker 1

At this point in twenty twenty two, Democrats represented fifty four percent of the ballots returned. At this point in this election, they represent forty two percent. They're down twelve points from where they were four years ago. At this point in twenty twenty two, Republicans represented twenty six percent of the ballots turned in. Now they represent thirty seven percent.

That's an increase in eleven points. Independents represented twenty percent in twenty twenty two and twenty one percent in twenty twenty six. That's up one point. Why is it do you think that Republicans are turning their ballots in at a faster pace this time than last time. And why have Democrats fallen off a cliff?

Speaker 5

Well, first of all, congratulation Republicans. I think Republicans are highly motivated have begun to see that we have had an administration that has been derelict in its duty and responsibility to the people under.

Speaker 4

The California Constitution.

Speaker 5

Additionally, though, I do think that the Democrats are still sort of befuddled over.

Speaker 4

This is it, This is the best you have to send us.

Speaker 5

So there's a real dismay amongst everyday voters, every day Democrats just saying, you know, who are these people? There's no real, you know, shining star in that pool for to become governor of the state of California. And then we saw that the Democrat Party itself basically was going to try to I believe, cover up the sins and scandals of their former leader until they saw, oh no,

this information is coming out. So they basically threw the equivalent of the horses hit and the mafioso move against Eric's swallwell to get him out of the race, and thinking that everything will consolidate now. But it hasn't. It's still all over the map. I think ultimately, you know, the Democrat party machine is very strong. They are holding on too ballots. Would I anticipate there's going to be

a last minute surge. Remember the governor's sort of teasing that on a rare occasion when he was in California. I think, but teasing we have a you know, break the glass in case of strategy, Make no doubt about it.

Speaker 4

I think they're harvesting the ballots. They're holding on to them.

Speaker 5

Maybe the envelopes are still unsealed, get ready to change in case they need to at the last minute change votes. But the machine is not going to give up easily. So they're holding on. Expect a surge, which means for everybody else, Republicans, independents, and I'm going to say common sense disaffected Democrats who don't want to go along with the old party line. I think these people encourage you

come out and vote. We've got to make it too big to rig, and hopefully to get some clear trends by election night so that even when that surge of votes perhaps comes in later, they can't turn around the vote and can't fool us with some obscure moves, but I think we have to be ready for all.

Speaker 4

The important thing is, don't.

Speaker 5

Worry about who's voting right now. It's a moment in time seven days. You know, it's like two minutes in a baseball in a basketball game. It'll go quickly and anything can happen in those final two minute warnings. So we are in the final week. Don't worry about what the other teams are doing. Keep turning in your ballots, turn them in, turn them in, get every neighbor out.

And I think if we do that, we continue with the momentum and we can prevail and avoid the pitfalls and potential greater chances to try to opfu, skate and erase our vote that may happen right after election day, because remember they will still be counting. We have to have a clear trend by the evening of election night. Let's shoot for that, but we got to get our ballots.

Speaker 1

In last question, we have about sixty seconds left. How much of the enthusiasm do you think can be attributed to Spencer Pratt Because his ads have gone viral. He's being covered on TMZ and forums that don't typically cover California politics. Every time he puts a new ad out, It's all over all of my social media feeds. People are texting it to me, emailing it to me. There seems to be a real appetite for that message, and he has people engaged who typically don't engage in politics.

Speaker 4

I'm a fan of Spencer Pratt. I've already voted for him.

Speaker 5

He says it this, He says, Look, I'm not a Republican, Independent or Democrat.

Speaker 4

I'm an angry voter. They burn my house down, and.

Speaker 5

Every Californian should take that Spencer Pratt message. Whatever label we put behind our name, we are an angry Californian. But we believe that we can make California golden again, and we're going.

Speaker 4

To show up and stand up.

Speaker 5

If Spencer Pratt and his family can do it and they got burned out of their home, we can do that as well. So in solidarity with Spencer, but in solidary with the people of California, let's show up to vote and just end the insanity that we have lived under for the last sixteen years. And it starts with Spencer Pratt. In Los Angeles, Gloria Romero for Lieutenant Governor. We can join a formidable partnership to turn around our state once again.

Speaker 1

Gloria Romero, candidate for Lieutenant governor here in the state of California. You can get her online at Gloria Romero the number four ltgov dot com and you can.

Speaker 3

Follow her on exit. Gloria J.

Speaker 1

Romero, Senator Gloria Romero, thanks so much for stopping by.

Speaker 4

Thank you.

Speaker 1

If you'd like to email the show, you can do so at Johnny don't like show at gmail dot com. That's Johnny don't like show at gmail dot com.

Speaker 3

You don't forget.

Speaker 1

On election Day, which is June the second, a week from today, we'll be doing double duty.

Speaker 3

In addition to noon to three, Randy.

Speaker 1

And I'll be back at seven o'clock at night all the way until nine covering all the election returns here in the state of California. We'll be on KABC in southern California, KSFO in the Bay Area, and KMJ in Fresno and the Central Valley, so hopefully you'll be able to tune into that.

Speaker 2

Well.

Speaker 1

Today was a big day on Wall Street, yet another record. The S and P five hundred and NASDAK set new records today. Of course, the s and P five hundred and NASDAK. They've been setting new records again and again and again and again. The stock market right now is cooking. Joining us to talk about this is the host of YouTube's Dumb Money Live, who's an investor best known for turning a twenty thousand dollars broke you count and eighty

million dollars using unconventional socially driven investment strategies. You can get them online at dumb money dot tv and follow him on x at Chris Camillo. Chris Camillo, Welcome.

Speaker 2

How are you doing? Good to be here?

Speaker 1

I'm great, Thanks so much for stopping by. So the stock market right now is as hot as my angels are cold.

Speaker 3

Are you surprised?

Speaker 2

No, not, not in the least. I've been in the game a long time. And you know, rather than kind of start with the stock market hot, I'd rather start with the fact that we're going through a structural technological leap unlike we've ever seen in our lifetime. So the stock market is simply a reflection of what's happening in the world with artificial intelligence and what's about to come the next decade. I think.

Speaker 1

So you think people who are currently investing, provided they're investing the right way, they're in the water right as the waves about to hit.

Speaker 2

Well, you know, it's hard to say that there's you know, you either believe that what we're seeing right now is

very real. And if you spend time working with AI directly or spend all the time deeply engage with those that are working with AI directly, I think you come to terms with the fact that the biggest thing to ever happen to our global economy, and we'll have massive implications both good and bad, on various sectors and companies, and a lot of the stock market the last couple of years has been carried by a small number of companies that I think have earned the right to kind

of get the you know, majority of benefits in terms of cash and flows in that they're you know, ideally positioned to win in this new world.

Speaker 1

And I've seen that You've said before that you think essentially that AI is going to hit in three different stages and or about ready to get hit by the third stage.

Speaker 2

Yeah, I think investors that have done the best over the last few years have always been a steps ahead. If you think about this as being like an AI super cycle, which I often cite. There was a phase one, which was that magical moment we remember when we first hopped on chat GPT and we thought, Wow, this is this thing can think, or at least pretend to think really well, it's almost like magic, and it's the change

of the world. And a lot of money was thrown at the companies that were responsible for building that technology, which was open AI and Thropic and Google and a couple others. The second wave of the AI supercycle was

what's commonly referred to now as the infrastructure layer. So all the companies that were responsible for providing the technology that enabled that step up, you know in use cases, so the chip companies like in Nvidia, the data center companies, energy companies, all the companies across the entire supply chain that enables artificial intelligence. That's all part of the infrastructure wave that has just been going on for a while now, and it's been unlike anything we've ever seen before, quite

honestly and probably deservedly. So. The third wave, which I believe is imminent to probably at most two to three years away, is what I'm calling the efficiency wave. So this is a transition from the companies that are building the shovels to make I possible, to the companies that are actually utilizing AI health to become meaningfully more productive

and efficient. So if you think about this next wave as being any company that has a high cost structure, and as we know, most companies in twenty twenty six have very high cost structures because most companies are reliant on employing a lot of humans that have gotten really expensive over the past ful of decades. So as those companies start to become more efficient as they utilize AI

to do competitive tasks, even high level strategy. We saw this month Ken Griffin at Citadel, who manages one of the largest, most sophisticated hedge funds in the world, come out and say that he could barely sleep because he saw AI doing some of the most sophisticated jobs at his company and better than any of his human employees.

As we start to see companies transitioning to a much more efficient style of an intelligence as opposed to human labor, that should reflect more productivity, high multiples for those companies, and the impact I believe will be much broader than what we've seen during this instructure wave, meaning that more companies will benefit, and I think we'll see a broader increase in valuations across the entire stock market as opposed to just ten or twenty companies that were positioned to

fuel AI. I think it will be a really exciting time for investors, and I believe that will be the next kind of meaningful leg up of the market, even though most here are very concerned that the market feels poppy and overvalued.

Speaker 1

Do you think that this wave is strong enough that it can withstand if there's global instability, if there's another war that breaks out, or we're broadcasting here in California, where we talk about the failures of our state government on a regular basis. We are a very poorly run state.

Many of these companies are headquartered here. Some of them have already moved out, but obviously when you talk about these data centers and the energy that's required and those sorts of things, California has fallen on its face in any number of occasions. Do you think that this wave is strong enough to withstand things that are beyond their control.

Speaker 2

Well, I do know one thing for sure, and that is there are going to be a lot of ups

and downs right over the next few years. These sorts, this sort of efficiency doesn't necessarily happen overnight, So there will be moments, whether it was you know, the tariffs are last year, whether it was the Iran war this year, it will be something else, I'm sure later on this year and then again in twenty twenty seven that will seem meaningfully more negative at least in the short term, as opposed to the positive ultimate income that we think we're going to get from AI in the long term.

So I think we're going to see a tremendous amount of volatility. But to answer your question, yes, ultimately, I think this AI cycle that we're in, of course of the next five or ten years, we can avoid blowing each other up with AI, right, if we can avoid the worst of all worst case scenarios. I do think that this is the main character in the storeline for the next decade, and all of the things that you

are referring to. I'm a fairly optimistic guy. I think over the long run, AI is actually going to help solve those problems as well. You know, we are all frustrated by government. You know, we're all frustrated by bureaucracy. You know, we are scared to death about how we interact with other nations, especially volatile nations like Iran and whoever happens to be leading our country at that time. Do we have the proper you know, people in place to actually you know, get us over the goal line

in these negotiations with other countries. I think EI is actually going to be one of the most powerful tools at our disposal long term to solve those problems where historically we've been really frustrated at how some humans have handled those scenarios, especially as it relates to the way government is run. I mean, if no one's really talking about this yet, but AI has the capacity to maybe be the most positive impactful thing that we've seen government

really in our history. So, you know, right at a time time when we're more concerned about government officials than we ever have been in government waste and you know, dirty politics, could AI be this illusion? I actually think it might be. Not that we're going to let AI run wild and run our government force, you know, unsupervised, but I think at some point it's going to get really difficult to overrule what we believe will be of higher level of intelligence. It's telling us, hey, here's how

you can run a great government. Here's how you can fix the problems that your voters want to fix. You know, if you think about it, most issues we've had at the government level has been about communication. I mean, I know the parties disagree with each other in some regard, but I think with most of the problems, both parties ultimately want to get to the same outcome, and they just degree on how to get there. I think AI is going to help us that.

Speaker 1

Well, maybe you're right, maybe AI will save us because if AI comes out with the sex robots, people will be less pissed off and they won't want to go to war.

Speaker 2

I wasn't even going to go there, but you know what, here you go. I mean, there's a lot of positives that are potentially out there, right why. I mean, there's just, quite honestly, there's almost an infant number of ways that AI could make the world better, right. I think along that path there will be hurdles.

Speaker 1

Do you think the public will embrace it? And I say that because let's say American Airlines comes up with AI technology that will allow the planes to fly without the need of pilots. You still have to get people to buy into it to be willing to sit in an airplane seat on a jet that doesn't have a pilot in the cockpit.

Speaker 2

The public will eventually embrace it. It's just like self driving, right, Like, did you think ten years ago we'd have cars flying around the city with no drivers in them? The point that's actually insane. I mean there are people and kids walking across the street, and we have, you know, six thousand pound vehicles with no drivers in them flying around corners. So I think if we were able to embrace that on the timeline that we did, there's no doubt in

my mind that we will embrace AI for everything. Will there be people pushing back at every step along the way, of course there will be, But there's never been a time in history when we have an ultimately embraced advancement. You really don't have a choice, right because if you don't embrace it, someone else will and you'll get left behind. So I have I'm completely confident that we will ultimately

embrace this technology. I also think that there will be an equal amount of thirst for what we're leaving behind. I think humans are really concerned learn that there is no place for humans in the future. I completely disagree. I think AI is going to allow us to expand enterprise, expand new ideas, expand economies unlike we've ever seen in

our lifetime. I think there will be companies with less people per company or less people per project, but I think there will be infinitely more projects, infinitely more problems getting solved, infinitely more companies new issues we can't even imagine today, because once we solve these problems, we'll use AI and robotics and automation to do things that we

never thought were even possible before. So I think if you think that way, AI will actually end up creating more and better and more creative jobs than we have today twenty years from now.

Speaker 3

Now.

Speaker 2

What happens over the next decade, I can't say. There will be bumps along the road. Will have to figure that out as a society, and I think we will.

Speaker 1

I did a Q and A with an economist at the California Club not long ago where we were talking about the wave came before AI, where bitcoin was the big thing, and he said, that's decentralized where you could be in Idaho, or you could be in Thailand, you could be in Europe, whatever, and bitcoin is so decentralized you didn't have to be in one place, and he said,

AI is the opposite. And a lot of these companies are headquartered in the San Francisco Bay Area where we're broadcasting right now, where the people who work there are people who are working under one roof. And because of that, because California is the epicenter of AI, one of the most undervalued assets on planet Earth is real estate in the San Francisco Bay Area because that industry is going to explode and it's taking place right there.

Speaker 2

I think that's a fair assessment, you know, I really do. There is a huge concentration of talent in that area. We saw We saw it during the dot com boom right we're seeing it again now. And I think it ultimately maybe will benefit in terms of I don't even want to use the word benefit because I think a lot of people will see it as a negative. But I think there's going to be another kind of rush for an inflationary period of real estate values and everything

else where. There's going to be a concentration of new wealth. I think this is going to bring such a massive amount of new wealth to certain areas of the world that have high concentration of people who are benefiting most from the artificial intelligence cycle, and a lot of that is where these companies sent. You're exactly right. I mean I saw an article that said there's a few hundred few hundred millionaires worth one hundred million or more that are about to pop up in Austin, Texas when the

spacexcile happens. So yeah, I think you will see it in that area.

Speaker 3

Are there any specific companies when you can look.

Speaker 2

At And by the way, every time California get itself into a hole, every time California gets itself into a hole something like that, this tends to happen right where all of a sudden you have just a massive amount of new wealth, and that wealth ends up resulting in more tax revenue. That tax revenue generally tends to save California out of its hole. Right, state will more likely

than not spend again, and the cycle starts over. I don't know how many cycles we have left, but it's ironic that here we are again and it might ai might actually save California.

Speaker 1

Well, unfortunately, you're right. I just wish we wouldn't have to be hanging off the cliff to get there. But that seems to be the pattern that we follow. We have about sixty seconds left as you take a look at your assessment of where we're headed and where this industry is. Are there any companies where you look at you go, oh my god. If there's one place to put the farm, because this company is going to benefit more than anyone else from this technology, that would be it.

Speaker 2

Yeah. I mean, listen, I don't make recommendations for others, but my largest holding is Amazon. I think they're ideally positive benefit from all of those games of a high for the most part, right, so, they are deep in the infrastructure layer with AWS. They make trainium ships, which is I think a fifty billion dollar division, which is one of a small foal of AI chip companies in the world. But they also will benefit meaningfully from this

efficiency wave through their retail division. Right. Amazon spent twenty five years building out world structure and logistics, and as AI automation robotics start to hit next day, I can't think of a company that be more efficiencies uh in margin increase than Amazon globally. And they're also the third largest digital advertising company in the world. Ad tizing is about to become more targeted, more efficient, more personalised, and

just contextually more rich. And when we have better, more targeted advertising that people relate to, the advertising mediums win. And you know Amazon's the top three company that space too, So you're getting like an entire flywheel of efficiency at Amazon. So if you believe we're going through a structural change, that will only be bigger and bigger year after year. I love Amazon here as a company that doesn't really get the respect it deserves as a beneficiary of the AI cycle.

Speaker 1

Chris Camillo, host of YouTube's Dumb Money Live. You can get them online at dumb Money dot tv and follow him on x at Chris Camillo. Chris Camillo, thanks so much for stopping by.

Speaker 2

Of course, anytime Happy.

Speaker 1

I'll be back tomorrow at noon, and hopefully Randy'll make his flight and he'll be back tomorrow as well.

Speaker 3

See you then,

Transcript source: Provided by creator in RSS feed: download file
For the best experience, listen in Metacast app for iOS or Android