00:00In LA for the Prop G Markets Live Tour kicking off in San Francisco tomorrow night. But today
00:06and on Thursday, I'm in, I think, my favorite place to visit in the world. That is the world's
00:11most successful failed nation state, better known as Los Angeles. This is a city where you can be
00:19waiting in line with a Saudi prince, a headshot manager, a failed actor, and a TikTok star,
00:23and you're all in line for the same $24 smoothie. Kind of peak capitalism, more billionaires than
00:29any city in the world. I think with the exception of New York, that's 75,000 homeless. It's a city
00:34that's really run on delusion, but illusion with ambition can create a lot of shareholder values,
00:40Snap, SpaceX. The entertainment industry itself is a shadow of itself while the headquarters are here.
00:45The majority of the production has left. That's been happening slowly but surely over the last
00:5020 years.
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