01:07:23 · Max Read, Teddy Schleifer
[01:07:23] S1: Yeah. I mean, I expect, know, given the... Your beat that you are looking with some interest at the Anthropic IPO coming up soon because you're gonna mint a bunch of billionaires who are gonna... Who have these exactly the passions you're talking about and exactly the interests who are [01:07:36] S3: gonna spend. Mean, they're already on the cap table to some extent. I mean, I... Or or or already on the cap table of the company and I think in the... On the campaign finance cap table, so to speak. I mean, like, people like Eric Schmidt, who's a big investor in Anthropic and a huge Democratic donor, Dustin Moskovitz, who is, you know, one of the earliest investors in in the company, and is a huge Democratic donor. The the resources, though, that's gonna be created by these IPOs are gonna mint a lot of people who are not necessarily even billionaires, but, you know, it's a it's a very civically minded, community of people at at Anthropic as a... It's a casting of a massively broad brush. But, like, you know, these are people who could easily give a million or 2,000,000 or $3,000,000, and I know that Democratic fundraisers are also watching the anthropic IPO closely with the kind of the hope that, there's gonna be a lot of, you know, 30 year olds who are gonna make a ton of money and are gonna wanna host, you know, Josh Shapiro when he comes to San Francisco, for example.
01:07:36 · Teddy Schleifer, Max Read
[01:07:36] S3: gonna spend. Mean, they're already on the cap table to some extent. I mean, I... Or or or already on the cap table of the company and I think in the... On the campaign finance cap table, so to speak. I mean, like, people like Eric Schmidt, who's a big investor in Anthropic and a huge Democratic donor, Dustin Moskovitz, who is, you know, one of the earliest investors in in the company, and is a huge Democratic donor. The the resources, though, that's gonna be created by these IPOs are gonna mint a lot of people who are not necessarily even billionaires, but, you know, it's a it's a very civically minded, community of people at at Anthropic as a... It's a casting of a massively broad brush. But, like, you know, these are people who could easily give a million or 2,000,000 or $3,000,000, and I know that Democratic fundraisers are also watching the anthropic IPO closely with the kind of the hope that, there's gonna be a lot of, you know, 30 year olds who are gonna make a ton of money and are gonna wanna host, you know, Josh Shapiro when he comes to San Francisco, for example. [01:08:34] S1: You mentioned dark money before. I mean, is there a version of the next... I mean, I suppose this is the version of the next cycle where a lot of the people who are on the list right now are spending the same kind of money, but they're keeping it much more secret. [01:08:45] S3: Yeah. That's a huge caveat to everything I've said, which is that I am very curious and and hopefully self aware about the amount that we don't know [01:08:58] S1: Yeah.
01:08:58 · Max Read, Teddy Schleifer
[01:08:58] S1: Yeah. [01:08:58] S3: What... About what's happening in this space. I've been writing about this kinda on and off for ten years now, and there is less disclosed than ever. Mhmm. Especially in the Democratic world, where where so much political giving now happens through nonprofits. And and, you know, to read a campaign finance report, is just to be inundated with, like, an alphabet soup of nonprofits, like, that are, you know, Americans for America Inc. All these groups started, like, two weeks before you're reading the thing. And, like, suddenly, there's a super PAC that is $30,000,000 that got this donation from Americans for Americans Inc. And it's [01:09:35] S1: like Yeah.
01:09:35 · Max Read, Teddy Schleifer
[01:09:35] S1: like Yeah. [01:09:35] S3: How'd that happen? And that's, an attractive way of kind of engaging in politics now, especially in the Trump era where lots of Democrats are fearful about investigations or, you know, Trump regularly, threatens big Democratic and progressive donors and, you know, has gone after Harvard and other Ivy League institutions for philanthropic gifts and tried to withhold research money. There's the... So a wholly legitimate reason why I think liberals fear the Trump administration and wanna have their political giving be more shrouded in secrecy. But the downside is no one really knows much about about this stuff now. And none of the nonprofits made the list you're referencing because they were all... It's so... There's so many of them, honestly. It's like it's like it's like the the the number of different nonprofits that started in, you know, August that each donated $10,000,000 is is you could have your own list made of just that. [01:10:29] S1: Alright. Well, on that very cheery note, Teddy, I wanna thank you for coming by and talking to us about this stuff. You can find Teddy's work, as well as Erin's, on the New York Times app, where you can also watch or listen to every episode of the Ezra Klein Show. Thanks for coming on, Teddy. [01:10:42] S3: You bet.
01:10:42 · Teddy Schleifer, S0, S7, S6, S8
[01:10:42] S3: You bet. Ad[01:10:56] S0: Your financial life rarely fits between nine and five, and the questions shaping your future don't follow a schedule. That's why Citi created Citi Sky, a secure AI member of your Citi wealth team built with the Gemini platform on Google Cloud. Whether expanding your portfolio or planning your future, you'll be able to access tailored wealth guidance on your time. Start building with Gemini at cloud.google.com/ai. Citi Wealth investment products and services are provided by Citigroup Global Markets Inc, member FINRA, and SIPC. Ad[01:11:27] S7: This podcast is supported by Chevron. Ad[01:11:30] S6: We rely on energy every day. But have you ever wondered what it takes to make sure it's there when we need it? I'm Tanner Faust, and the energy tailgate is back with straight talk about the energy our world depends on. Ad[01:11:45] S8: Today's AI builders need infrastructure that scales with their ambitions. IRen is a vertically integrated AI cloud platform delivering data centers, compute, and software for AI training and inference underpinned by its expansive portfolio of land and grid connected power in renewable rich regions globally. IRen's AI cloud gives direct access to NVIDIA GPUs scalable from hundreds to thousands. For builders, that means direct access to AI compute, rapid scaling, and predictable pricing. IREN, AI Cloud for the next big thing.
01:11:45 · S8, Max Read, S7
Ad[01:11:45] S8: Today's AI builders need infrastructure that scales with their ambitions. IRen is a vertically integrated AI cloud platform delivering data centers, compute, and software for AI training and inference underpinned by its expansive portfolio of land and grid connected power in renewable rich regions globally. IRen's AI cloud gives direct access to NVIDIA GPUs scalable from hundreds to thousands. For builders, that means direct access to AI compute, rapid scaling, and predictable pricing. IREN, AI Cloud for the next big thing. [01:12:19] S1: This episode of Hard Fork was produced by Whitney Jones and Sawyer Roquet and edited by Viren Pavich with additional editorial support from Brendan Klinkenberg, Lisa Tobin, and Brooke Minters. We were fact checked by Will Peischel and engineered by Alyssa Moxley. Original music by Alicia Beitoop, Marian Lozano, Diane Wong, Alyssa Moxley, and Dan Powell. Our assistant video editor this week is Rebecca Blondone with additional video production by Chris Shaw. You can watch this full episode on YouTube at youtube.com/hardfork. Special thanks to Sam Dolnick, Jessica Testa, Hui Wang Tam, Maddie Massiello, Zach Caldwell, Dave Mayers, Sergeant Stoyikovich, Chris Moore, Thomas Trudeau, Samantha Winter, Michael Cordero, and Dahlia Haddad. If you have any questions or comments or want to give us a piece of your mind, find us at newyorktimes.com/hardfork. You can also email us hardfork@newyorktimes.com. [01:13:26] S7: This podcast is supported by Chevron.