Trump's Tariff Gamble EXPLAINED w/ Chamath

America exported manufacturing globally because they were so benevolent? WTF? The exported it do that corporations could make untold sums of money using cheap labour.

BRO HOW IS THE INTRO EVEN REAL? America outsourced production to poorer countries for cheap labour, not benevolence!!!

AMERICAN COMPANIES CHOSE TO MOVE THOSE JOBS TO MAKE MONEY. No any other way to split it that’s in good faith. We can’t blame those countries for decisions AMERICANS make

Bro this is amazing when everyone isn't talking at the same time. So much nicer to listen to

Three things — Chamath seemed reluctant to blame the offshoring of millions of U.S. manufacturing jobs (in decline since 1979) on his corporate friends. But they got exactly what they bribed—I mean, *heavily lobbied—* the govt for: cheap overseas labor, weaker regulations, massive cost savings, and _record profits._ Since the ’80s, profits soared while wages as a % of GDP fell. Productivity rose, but real wages didn’t — the gains *went to capital,* not labor (i.e. Chamath & co). When they try to spin it as some some noble experiment to spread capitalism and enrich the world, don’t fall for it. — America is the richest nation in history. The narrative that the US is this poor victim of other nation's greed isn't taken seriously overseas. — It’s always tone-deaf when a billionaire tells retirees _“put their big boy pants on”_ while their life savings take a hit. Even if Chamath meant no harm, it just looks bad.🙄

I appreciate Chamath explaining how corruption works and how he's an active participant.

The tarriff plan will evidently lead to high inflation, the high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.

I usually don’t like Alex’s inputs—too emotional and uninformed. But his pushback on Chamath’s analysis actually helped flesh out the concepts and answered key questions that were being skipped. Really solid. Also liked that he didn’t backtrack on his previous positions—he raised them directly to Chamath and let them get tested.

This guy basically said I couldn’t buy the democrats so he went and brought the republicans

Fun fact: Phil Knight, the founder of Nike, wrote his MBA papers on how to buy shoes from Asian countries for the cheap and resell them in the US. He expanded on this concept of course by making it for the cheap in Asia and resell them for a premium in the US. By a stroke of luck, they found Michael Jordan, made a ton of money, enlarged their R&D while chasing cheaper costs by hopping from one country to another and the rest is history. While this may sound outright un-patriotic or exploitative, it actually has a common sense basis. Phil Knight told the story of searching through a town in Japan in the early ’70s looking for a shoe factory, and finally realizing the entire town was the factory. US shoe manufacturing is not centralized like that, hence an American shoe factory was always waiting for someone else to deliver essential materials to the factory, with predictable and agonizing bottlenecks. This was the fundamental problem with shoe manufacturing in the US; the industry fragmentation. A shoe factory had to rely on outside sources for leather, various synthetic upper materials, lasts, rubber, sole products, vinyl, various foams, laminated items such as combinations of taffetas, tricots and foam etc. While initially only reselling shoes made in Japan, Nike began making shoes domestically in the U.S. in September, 1974, in Exeter, NH, and continued to do so until the factory was closed in 1984. After a decade, South Korea and other countries (Vietnam, Malaysia, the Philippines, and China) had become a better (lower cost, faster development of new products) source for manufacturing than the US. Hence Nike never looked back and return shoe production to the US, except for the Air MI facility in Missouri that produces the Air units used in many of their popular shoe models.