The Information's TITV
00:16:33 · Akash Pasricha
[00:16:33] S0: Right. Okay. So let's move to some of these state specific issues. I mean, data centers are key here. I saw the local ballot measures. I mean, I don't know if they all went against data centers, I think it was pretty close, at least, Yeah. Based on what I'm look, I think before we get into sort of maybe specific states, how do you think big tech may at all change their tune? You know, there's this whole... We've seen how CEOs show up in different ways, depending on who is elected. Do you see any of that changing now?
00:17:11 · Bradley Tusk
[00:17:11] S2: Yeah. I mean, I I think what's interesting is when you look at the opposition, and it's bipartisan to data centers, it's not really about data centers. Right? Because the only credible argument against data centers will be one, consumers shouldn't have to subsidize the energy needs of data centers. I don't know any data center builder or hyperscaler that disagrees with that. Two, that the local water supply shouldn't be used for data centers. The point of a closed loop system is just a truck in the water unit originally, and it just circulates around and around and around in cools day. And third would be, you know, community benefits and just being part of the community you're in. None of these are particularly controversial or opposed by, you know, anyone involved in data centers. So the anxiety is just a general anxiety about the fear that AI will take your job, that it will hurt your kids, or it's a mode to keep saying over and over and over again, it's gonna kill us all. And it's gotta manifest itself in some way because data centers are tangible physical places that need permitting and zoning approvals. That's where the opposition goes. And so I I think what has to happen to change it is, yes, better politics, better community engagement by the data center builders. But I... And I think you've seen a lot of that. Companies like FluidStack and others are pretty progressive in that way. But at the same time, I think that there's just gotta be more of an appreciation, by the hyperscalers that, look, we understand that you're nervous about it, and here's what we're gonna try to do to work with you to make sure that we're safe. You know, emoting just scaring everyone does not accomplish anything. Or, you know, OpenAI running at just to say, AI is wonderful and it's gonna be so great for everyone. Until those things actually start happening, until cancer is cured, until carbon is removed from the atmosphere, people aren't going to really buy that. And so, they've got to really be a lot more upfront and open, not just about the risks, but how they're going to help solve them, prevent them.
00:19:06 · Bradley Tusk, Akash Pasricha
And if they are serious about self regulation, then the limits that they will impose on themselves, if they can't really force their competitors to do anything, to not release new frontier models that might be dangerous, even if it does put them in economic disadvantage. [00:19:21] S0: What do you make of the market being up this morning? Hyperscalers are trading up. Neo clouds are down. Oracle is kind of flat, which I think very much tells you something about how people think about Oracle. What do you make of that reaction?
00:19:21 · Akash Pasricha, Bradley Tusk
[00:19:21] S0: What do you make of the market being up this morning? Hyperscalers are trading up. Neo clouds are down. Oracle is kind of flat, which I think very much tells you something about how people think about Oracle. What do you make of that reaction? [00:19:33] S2: I mean, I I think that markets really hate uncertainty. And so when things are resolved, they feel a lot better. It's like people. Right? If you think about when... At least for me, and I I suspect, you know, I know you well enough to know that I suspect you're kind of similar here, which is when something bad happens, once you sort of process it, okay, here's how I'm gonna deal with this. And it might be bad, but you'll still deal with it. When you think something bad might happen and you're just worrying about it over and over again, that creates actually a lot more anxiety than dealing with the bad thing itself. I think markets are very similar. So when they didn't know it was going to happen, now they're like, okay, we know who won, we know what we're dealing with here. And by the way, you know, while I understand that Trump generally has been pretty good for the stock market, he's the most unpredictable force possible. And with both chambers now going to the Democrats, it really does rein him in, in many ways and limits at least the damage they think he could do legislatively. And so I think that they might actually like a little bit of it.
00:19:33 · Bradley Tusk, Akash Pasricha
[00:19:33] S2: I mean, I I think that markets really hate uncertainty. And so when things are resolved, they feel a lot better. It's like people. Right? If you think about when... At least for me, and I I suspect, you know, I know you well enough to know that I suspect you're kind of similar here, which is when something bad happens, once you sort of process it, okay, here's how I'm gonna deal with this. And it might be bad, but you'll still deal with it. When you think something bad might happen and you're just worrying about it over and over again, that creates actually a lot more anxiety than dealing with the bad thing itself. I think markets are very similar. So when they didn't know it was going to happen, now they're like, okay, we know who won, we know what we're dealing with here. And by the way, you know, while I understand that Trump generally has been pretty good for the stock market, he's the most unpredictable force possible. And with both chambers now going to the Democrats, it really does rein him in, in many ways and limits at least the damage they think he could do legislatively. And so I think that they might actually like a little bit of it. [00:20:29] S0: Right. Okay. So prop 40, the the billionaire tax. Look. It's not looking like it's gonna go. What do you think that tells us about the way voters are feeling? Is this a reflection of the lobbying that Silicon Valley did? Is it just a reflection of the structure I of
00:20:45 · Bradley Tusk
[00:20:45] S2: think it's a few things. I think one is the the no people ran a good campaign. They spent a lot of money, obviously. Two is the yes people made some really fatal mistakes and shot themselves in the foot. The first is because effectively you had one or two unions, namely the SEIU, saying, We're going to take all of that money and just use it for our needs and no one else. They pissed off all of the other institutional players in democratic politics in California, like the Teachersians. And so instead of having the kind of coalition that you need to pass a measure like that, they were pretty fragmented. Two, they put this insane provision in the referendum that said, Oh, the legislature at its own discretion can change the threshold for the tax. So now we could take, if we want to, 5% of the net worth for someone not worth $1,100,000,000 but $100,000,000 or $10,000,000 Or once you get into the million dollar range, that's every homeowner in California effectively. And so I think people really didn't trust the state government to not come after their money too. And third is, for all of the sort of socialist movement, for all of the anger by some at capitalism, America is still a really aspirational society, right? America is still a place where people want to get rich, think they can get rich. I know that there is sort of a lot of pessimism on Gen Z overall, but I think people do think that, hey, you know, if I do the right things, it might work out for me. And so they don't like the idea of knowing that if they succeed, maybe not to the tune of a $1,100,000,000 net worth, but at whatever level, that the government could just literally take their money. And keep in mind, this is after tax money. It's not like we're increasing the tax rate. It's saying you make money, you pay the incredibly high... Really high California taxes to begin with, and then we take more of it on top of that. I think it just doesn't feel fair to most people.