00:00:00.000The biggest democratic lie when it comes to economics is that wealth is basically a fixed pie and that the best way to run the world is to take that pie and spread it more equitably, which just means a softer form of communism, basically.
00:00:12.000But as AI companies head toward IPOs in the coming months, the magic of American innovation has generated immeasurable wealth for Americans who worked on each startup from its earliest days.
00:00:21.000We're talking like engineers to baristas.
00:00:24.000Plus, we'll get to the miracle of self-driving cars and a major Democrat policy fail in Seattle.
00:00:29.000So let's start with a Bonafide expert on economics, the church storming Democrat darling, Don Lemon.
00:00:35.000The stock market continues to do really well.
00:00:39.000This has forced Don Lemon into the awkward position of saying the stock market is not the economy.
00:00:44.000Now, again, this is usually what people out of power say the stock market is not the economy.
00:00:49.000And it's true, the stock market is not the entire economy.
00:00:51.000But it turns out that the stock market does have something to do with the economy, particularly if the inflation is not outsized.
00:00:57.000And absent the Strait of Hormuz, inflation would not be outsized right now.
00:01:13.000It is not a sign of the health of the economy.
00:01:15.000It is a sign of the health of wealthy people, people who are able to afford stocks, who have investments, who have 401ks.
00:01:24.000Most of those people are upper middle class if you can afford a 401k, and still those folks are struggling.
00:01:29.000But the wealthy people are doing very well, and that is why the stock market is doing well because they're investing in it, because they're making money hand over fist.
00:01:38.00062% of American adults have stock in their 401k, in their retirement accounts, 62% of Americans.
00:01:43.000In fact, the stock market does bear a relation to the economy.
00:01:48.000It turns out you need giant funds of liquidity, which is where liquidity comes from.
00:01:52.000When you go public, the idea is you are selling your stock in order to take money into a company that you can then expend on your employees and on growth of the company.
00:02:01.000SpaceX is about to make a bunch of people an absolute fortune.
00:02:04.000So, SpaceX, one of the most successful companies in American history, the IPO is going to be extraordinary.
00:02:11.000It is not just Elon Musk, contrary to public opinion.
00:02:14.000According to the Wall Street Journal, the beneficiaries include not just engineers and other white collar workers, but the legions of technicians who build the company's rockets, as well as baristas and other salaried employees who work at SpaceX campuses in California, Texas, and Florida.
00:02:27.000Some have held on to stakes that were valued at less than two bucks a share when they were granted, and the company hadn't yet landed a rocket.
00:02:33.000Juan Hernandez, an immigrant from the U.S. to Mexico, learned how to weld because the pay was good.
00:02:37.000In 2015, he heard about a job opportunity at SpaceX.
00:02:40.000He started as a contractor for $28 an hour, and then he was hired full time.
00:02:44.000He was given an equity stake valued at $10,000 that vested over five years.
00:02:48.000In 2020, he began selling off small chunks of his stake as SpaceX hit a $36 billion valuation.
00:02:54.000He used the money to buy properties around Texas and build a small real estate business with his wife.
00:02:58.000And his remaining shares are worth around $880,000 at the IPO price.
00:03:05.000Apparently, some 4,000 people are going to become millionaires because of the SpaceX IPO.
00:03:11.000Thousands of past and current SpaceX employees with company shares will soon be able to access life changing fortunes after the company makes its stock market debut.
00:03:20.000That is also true for people with stakes in Anthropic and OpenAI, which will also IPO.
00:03:27.000One person who used to work at the company has been in a debate with Eric Franklin, a wealth advisor who caters to tech company employees.
00:03:34.000The former employee has company shares worth $21.4 million at the IPO price SpaceX set last week.
00:03:41.000That represents 93% of his household's investable net worth.
00:03:45.000And Franklin is advising him, hey, dude, you might want to de risk yourself, get a little bit of money out.
00:05:04.000So, right now, SpaceX is offering a take it or leave it price of $135 a share rather than providing a range and pricing the deal based on demand.
00:05:15.000So, usually pricing takes place the evening before a market debut, according to CNBC.
00:05:20.000In the weeks leading up to a point, the issuer, in tandem with underwriters, provide a price range and then they lift it if the investors show signs of enthusiasm.
00:06:43.000So, AI is finally generating the kinds of profits that are necessary to prop up the arguments about productivity and also market valuation.
00:06:51.000Innovation is the lifeblood of the American economy, and the innovation is not stopping, unless, of course, Democrats do their best to stop it.
00:07:01.000So, now it turns out that there are a lot of people who are upset about technology and innovation.
00:07:08.000Apparently, some people are pissed off at the Pepsi driverless trucks.
00:07:13.000So, Pepsi has now launched a bunch of driverless trucks.
00:07:16.000And this is creating upset because there are a lot of drivers who make their living driving these trucks around the country.
00:07:23.000According to the Wall Street Journal, a 26,000 pound box truck loaded with Doritos and Frito Lay chips rolls out of a distribution center bound for a Walmart store about four miles away.
00:07:31.000It looks like any other truck, but there's no one at the wheel.
00:07:34.000This is one of the 35 driverless trucks PepsiCo is running on Arizona roads, marking it as the first major U.S. consumer goods company to disclose the real life, large scale use of autonomous trucks on public roads.
00:07:46.000PepsiCo has been working directly with a company called Gaddock since 2022 to perfect the technology.
00:07:51.000They operated with a safety driver in each truck for a few years.
00:07:54.000They started driverless runs in June 2025, and there have been no accidents on public roads so far.
00:08:04.000Here's some pictures of the Gaddock autonomous trucks.
00:08:09.000And this is, you can see here, you've got the computer.
00:08:12.000The computer is basically doing exactly what a Tesla self drive would do.
00:08:15.000I have to say, Tesla self drive is incredible.
00:08:43.000It means that a bunch of people who are bad drivers on the roads, or a bunch of people who may be having weaker vision than they had 30 years ago, or lower reaction time, or more distractibility, they can now drive without paying too much attention to the road, and they're not going to crash.
00:10:06.000That's what Seattle has been pushing for.
00:10:09.000Seattle, apparently, according to Fox 13, has now opened a new village featuring 75 individual units, each measuring approximately 70 square feet.
00:10:16.000The way they're going to overcome their rental market being too high because they haven't allowed development for a long time is to basically build you a storage facility, like a storage unit, and then you can live in it.
00:10:42.000So they are now creating basically small boxes for homeless people to live in, which will end with the homeless people trashing the small boxes because this is what happens with public housing.
00:10:52.000Here's the mayor, Katie Wilson, defending this nonsense.
00:10:55.000So again, the model here is low barrier, high support.
00:10:58.000So we are not requiring treatment for people entering this.
00:11:01.000And this is really an evidence based model that we've seen be successful.
00:11:05.000And so basically, you're bringing people in knowing that.
00:11:07.000The process of recovery is really complicated and difficult.
00:11:11.000And so we're not demanding that people be, you know, abstinent when they enter this village, but there are going to be, you know, there's kind of repeated efforts to kind of help people along into treatment.
00:11:22.000And so that treatment will always be available and encouraged.
00:11:27.000So obviously this will work out beautifully.
00:11:30.000Because if you just take the drunk dorms, that's what they were called in Seattle, and you shift them into individual units, probably it'll get better, not worse.