Afrikaans
Akan
Albanian
Amharic
Arabic
Armenian
Azerbaijani
Basque
Belarusian
Bemba
Bengali
Bihari
Bosnian
Breton
Bulgarian
Cambodian
Catalan
Cebuano
Cherokee
Chichewa
Chinese (Simplified)
Chinese (Traditional)
Corsican
Croatian
Czech
Danish
Dutch
English
Esperanto
Estonian
Ewe
Faroese
Filipino
Finnish
Frisian
Ga
Galician
Georgian
German
Greek
Guarani
Gujarati
Haitian Creole
Hausa
Hawaiian
Hebrew
Hindi
Hmong
Hungarian
Icelandic
Igbo
Indonesian
Interlingua
Irish
Italian
Japanese
Javanese
Kannada
Kazakh
Kinyarwanda
Kirundi
Kongo
Korean
Krio (Sierra Leone)
Kurdish
Kurdish (Soranรฎ)
Kyrgyz
Laothian
Latin
Latvian
Lingala
Lithuanian
Lozi
Luganda
Luo
Luxembourgish
Macedonian
Malagasy
Malay
Malayalam
Maltese
Maori
Marathi
Mauritian Creole
Moldavian
Mongolian
Myanmar (Burmese)
Montenegrin
Nepali
Nigerian Pidgin
Northern Sotho
Norwegian
Norwegian (Nynorsk)
Occitan
Oriya
Oromo
Pashto
Persian
Polish
Portuguese (Brazil)
Portuguese (Portugal)
Punjabi
Quechua
Romanian
Romansh
Runyakitara
Russian
Samoan
Scots Gaelic
Serbian
Serbo-Croatian
Sesotho
Setswana
Seychellois Creole
Shona
Sindhi
Sinhalese
Slovak
Slovenian
Somali
Spanish
Spanish (Latin American)
Sundanese
Swahili
Swedish
Tajik
Tamil
Tatar
Telugu
Thai
Tigrinya
Tonga
Tshiluba
Tumbuka
Turkish
Turkmen
Twi
Uighur
Ukrainian
Urdu
Uzbek
Vietnamese
Welsh
Wolof
Xhosa
Yiddish
Yoruba
Zulu
Just when you think you got it all
figured out, you see trends in progress
that seem to contradict each other. And
you wouldn't have expected that. Here's
one example. So, whatever you think of
the war with Iran, there is really no
arguing the fact it has caused a global
energy crisis, maybe the most severe
global energy crisis, well, since the
discovery of fossil fuels. To give it
some perspective, so the straight of
Hormuz famously is closed down. That's
the choke point through which a fifth of
the world's hydrocarbons flow. And
that's been for maybe two and a half
months. If the straight is opened by
next month, which is best case scenario,
we have no idea if that's going to
happen or not. Let's just say it did.
June straight opens, business returns to
normal, energy flows what they were on
February 27th, just world returns to
status quo. There will still be a net
loss of 1.8 8 billion barrels of oil,
not including natural gas, by the way,
or petrochemicals or all kinds of other
commodities the world needs, but just
oil.
1.8 billion barrels missing from the
global energy system and that's best
case. So that has massive effects on the
price of everything. And now everyone's
kind of an amateur expert on the need
for energy and global supply chains and
all this stuff.
what we have been misled about for the
last 15 years because of climate
orthodoxy. We're now learning the hard
way, which is you need fossil fuels and
you need them for all kinds of things,
but you need them primarily for
electricity. It's not oil really. It's
natural gas and coal that produce the
world's electricity. But without them,
electricity prices spike. And when they
do, the price of everything else spikes,
including just living in your house or
your apartment or anywhere. Because
cheap energy is the key to prosperity
and in fact civilization itself. And
this has always been known always since
the time when people burned Pete to stay
warm.
So energy prices not surprisingly have
gone up around the world in some places
quite severely Europe for example parts
of Asia but even in the United States 5%
on average energy prices for homeowners
have gone up this year and that is
expected to continue to rise. So again,
not surprising how this happened. It's
easy to explain, very easy to
understand, maybe a little bit harder to
fix, but at least within the realm of
the explicable.
Here's what's less expected. At exactly
the moment this is happening, energy
becoming more expensive,
global supply chains more fragile. You
are hearing first a chorus and then just
a screaming crowd of demands for more
energy production. And these demands are
not coming from consumers, homeowners.
Hey, my electric electricity bill's gone
up. I think we need more power plants in
the county. Maybe we should burn coal.
Why not? That would be understandable.
No, this chorus is coming from the
people in charge, which is to say,
elected officials,
think tank grandees, and most
interestingly of all, captains of
finance, the richest people in the
world, all of a sudden are telling you,
"We need to produce more energy." That's
a little weird because this exact group
for again the past at least 15 years
since Al Gore was famous has been
telling you exactly the opposite.
They've been telling you that energy is
not the source of life, not the base of
civilization, but it's the cause of
humanity's downfall. It's the
destruction of the earth. It's the main
reason we have climate change.
CO2 is the reason it's getting warmer,
which by the way it is because climate
cycles are part of nature. That's why we
had glaciers and now don't. But whatever
they've been telling us for this last
generation that burning fossil fuels was
not just bad for the environment, but a
sin and it was the main sin against
which we should organize all of our
society. like everyone had to be carbon
conscious all the time because we love
the earth.
Now those exact same people up to and
including the father of ESG himself,
Larry Frink at Black Rockck are all
telling us we're going to take a pause
on the concern for global warming. We
need more electricity. And the truth
about electricity is it does not come
from renewables.
The overwhelming majority of electricity
on planet Earth comes from, well, the
same place it always came from, boiling
water, which moves turbines. And to boil
water, in some small percentage of
cases, they use radioactive material,
fuel rods, nuclear reactors.
But for the overwhelming majority, it's
what it always was. Coal still number
one globally,
natural gas, and to some extent, oil. So
you burn things in order to boil water,
in order to move turbines, in order to
create electricity. This is not modern
technology. It's industrial age
technology. It's the same technology,
refined a little bit, cleaned up a bit,
but basically the same. And so those
people who spent all this time telling
us that that technology was not just
inefficient, but morally wrong, are now
calling for a massive expansion of it.
Kind of crazy if you think like what is
this? Well, of course, it's one thing.
It's AI. AI artificial intelligence
a dramatic a quantum as they say
increase in processing power computer
processing power which will allow
computers the machine
to reason to mimic human thinking and
thereby replace a lot of human labor.
That's the idea. Computers are now so
powerful they can do many of the things
not just the manual things that was the
promise of the industrial age but the
intellectual things that we do
and this is great or not but in any case
it's inevitable
and we've got to do it and it turns out
to be incredibly demanding of power you
need a lot of electricity to run AI much
more than most people understood and so
we're going to need to put on hold in
fact invert hurt our concerns about
global warming in order to build AI.
Okay?
And on the one hand, they make a
rational argument. They don't always say
this out loud, but it's the basis
clearly a part of their thinking. If
you're a planner, if you're in charge of
a country, you know that technological
advantage pretty much consistently
translates into geopolitical advantage.
In other words, the strongest countries
are the most technologically advanced
countries. They're the ones with the
most advanced economies. They're the
ones who can defend those economies most
successfully with technology, with
tools, in that case, weapons.
But technology makes the difference
between first and second or 123rd on the
global roster of power and wealth. The
most technologically advanced countries
are the most powerful countries. That's
basically true. Always has been true.
The tribe with bows and arrows beats the
tribe with spears. Okay, that's not
crazy. None of this is crazy on one
level.
It's the details that maybe need a
little fleshing out. But on the basis of
this promise, AI,
the federal government and state
governments, particularly the government
of California, our largest state, have
bet everything. So traditional
manufacturing in the United States isn't
entirely dead, but it's getting there.
Of course, it's not the basis of our
economy. That would be finance and real
estate. But AI is the next iteration in
the minds of the people making the big
plans of the American economy. And
again, you can't overstate the degree to
which they're betting on this. Again, to
take our biggest state, California. So,
the base is the California economy
three-fold. It was, of course,
agriculture, and that's still huge in
California, the Central Valley, the
richest farmland in the world, most
fertile ground on the planet. It was
aerospace, mostly in Southern
California. That would be aircraft and
anything that goes into into space to
defend us. And it was entertainment.
There's a movie business, movies and
television, famously out of Hollywood.
Now, two out of three are, if not
totally dead, certainly on their way to
being totally dead. Agriculture we hope
will always be there, but it's not a big
money proposition even in a good year.
So, what sustains the state of
California? What allows the generous
welfare promises that its politicians
have made to its people
to continue? How can the state of
California continue paying full health
and medical, maybe even dental for
illegal aliens without a big source of
tax revenue? And of course, the answer
in their minds is AI. So they're betting
everything on AI. The problem is once a
politician bets everything on any
industry, he has every incentive to well
have unrealistic expectations for what
that industry is going to do. of course,
not so different from, you know, rolling
the dice,
but they're also very likely to suspend
the normal protections that keep the
rest of us from being hurt by that
industry because it's too important to
get into the details of what this might
look like 10 or 15 years from now.
So, what's happening in California is
really happening nationally. It's
happening in every state and it's
happening in Washington. We are betting
everything on AI. And you know that
because by far the most ambitious
investments into the United States, not
simply by American companies and
investors, but by states, by the federal
government, and by foreign investors
putting foreign direct in investment
into the United States is in artificial
intelligence.
And all of this has kind of become
visible. It's been going on for a while,
but it's become very visible to the
public in the outcry over a proposed
data center in Utah
in a fairly sparsely populated pretty
remote county in Utah. Most of which is
sparsely populated
in which will be built the what's well
what's being built as the largest data
center in the world. Enormous 40,000
acres. 40,000 acres,
62 square miles, multiples the size of
Manhattan,
huge, impossible to imagine.
And that data center, which is basically
a series of interconnected, lowslung
vinyl clad warehouses in which sit not
people making things, but computers
computing things.
That data center once completed will
draw about 9 gawatt of power. How much
is a gigawatt? It's a It's a billion
watts. It's one step from a terowatt,
which is a trillion watts. 9 gawatt.
Now, how much is 9 gawatt?
Well, 9 gawatt is more than twice what
the entire state of Utah now uses. Every
human being in the millions of people
who live in Utah, all of them combined,
all the manufacturing in Utah, all the
ski lifts, all of it, every air
conditioning unit, every electric
heater,
every Tesla, all of them combined
use less than half that amount of
electricity.
That's an amazing amount of electricity.
But then you think to yourself, well,
it's a it's a manufacturing facility.
It's a business. Of course, they use a
lot of electricity. Well, how much is
that? Well, let's compare it to the
largest manufacturing facility in the
United States would be the Boeing
Everett plant in Washington State, made
famously this this 747. It was built in
the late 1960s to build the 747, the
cutting edge state-of-the-art aircraft
that signified American dominance in the
skies and was, by the way, a beautiful
aircraft. First rolled out in 1969. So,
this manufacturing plant was built in
Everett, Washington by Boeing and it and
it's still there and they make still all
the widebody Boeings are made there.
And it was always built as may still be
the world's largest manufacturing plant.
It's about 92 acres. It's a under a 100
acres.
What does it use for power? Well, it
uses about a quarter of a gigawatt every
year.
So contrast that. The world's largest
manufacturing plant, certainly the
largest in the United States, the Boeing
Everett plant, 92 acres, a quarter of a
gigawatt, 258
million kilowatts, something like that.
Compare that to the proposed data center
which is
well as we said
40,000 acres and 9 full gigaww. So, one
makes widebody airplanes which are
visible to everyone who goes to an
airport or looks up in the sky on a
cloudless day and the other produces
what
and employs who.
So, that kind of is the question right
there and we're going to get into it in
just a minute. What exactly are these
data centers doing? We're told they're
incredibly important. They are the
future. We must have them. Someone's
going to have them. If it's not us, it's
going to be our archeneemy, China.
And if they get them before we get them,
you know, really bad things could
happen. Now, those things are never
quite specified. They might wind up with
a bigger economy than ours. Oh, wait.
They already have that. But for some
never quite spelled out reason, that is
the disaster scenario we need to avert
by building the world's largest data
center in a country that already has
thousands of data centers in comparison
to China, which has only hundreds of
data centers. Hm. So, that tells you
right there there may be something else
going on. But we know we have to have
it. We know that yes, it's going to
produce more heat and CO2 than really
any other human activity in recorded
history. But that's not a problem. That
will not add to global warming. Or if it
does, very much like the pro-Geeorge
Floyd protest, it doesn't matter. We're
going to suspend the laws of nature for
this project because it's that
important. So it doesn't matter. ignore
everything we told you about climate
because this has to be done. Okay,
we'll accept all of that as true. And
the third thing they tell us is this
will come at no real cost to you now in
a country that has been stalling the
construction of new energy production
because it's bad. It's immoral. It's not
carbon neutral. If they're not windmills
or solar panels made in China, it's just
wrong.
that country is going to construct gig
full gigawatt data centers is in the
process across the country of doing that
in a bunch of different states Texas,
Mississippi, you name it, Louisiana.
And that will have no effect on you. In
other words, we're somehow going to have
enough electricity to power everything
that you use in your life, including all
the new electric things that are going
to be great. You're going to love them.
The electric stove that's now mandatory.
the electric heater that's now
mandatory, the electric car that we hope
you buy, we're trying to convince you to
buy it by paying for it in part with
your tax dollars already. All of that's
going to be possible. None of that will
be affected in any way. Your cost will
not rise as we, I don't know, quintuple
American energy production. Is that
true? And we're going to do all of this
for a reason that we can't quite explain
to you because we may not know
ourselves, but we have to do it because
if we don't, the Chinese will. That is
the state of play.
We can go through each one of those
different claims to see if they're true.
But in the case of the penultimate
claim, this is not going to affect you.
Consider that today the 55,000 permanent
residents of Lake Tahoe,
which is one of the biggest and
prettiest lakes in the United States,
shares borders with both California and
Nevada. Residents were told today that
actually we're not going to provide you
electricity anymore. The Nevada based
power company that is providing
electricity to the residents of Lake
Tahoe informed them today that sorry,
all the electricity we make, every watt
of power that we generate is going to
have to go to a nearby data center and
therefore you have until the end of next
year to find a new source of
electricity. And after that, we can't
help you because the machines have
called and they need the power. Sorry.
So that it's a little dystopian to be
honest. Not attacking the idea of AI and
the promise that it may do useful
things, but if they're informing you a
year and a half out that hey, at the end
of 2027, you're not going to have any
more electricity because the machines
need it and in fact they're demanding it
and they seem a little agitated.
It suggests a future that I don't know
we should think about before it arrives.
Now to the question of what that future
will look like.
There's been a lot of talk about this on
the internet. What is AI exactly?
And what's its nature? And what kind of
society will it produce once it has more
power than it does? And is it possible
that a machine designed to quote think
like a human being could potentially get
out of control?
Is it possible that it will develop
consciousness and self-awareness and a
will of its own that maybe not aligned
perfectly with our own might not have as
the AI developers themselves say
alignment
and they could say turn on us is it
possible we face a future of enslavement
by the machines that we built
seems a little crackpot keep in mind
people and Americans too are prone to
overstating the risk of things and so
their imaginations go a little crazy and
imagining monsters under the bed. And if
you're old enough to remember Y2K,
the much anticipated disaster that was
supposed to strike the world at the
stroke of midnight on January 1st, 2000,
when every computer in the world was
supposed to melt down and planes were
going to fall out of the sky, incubators
would stop working in maternity wards
and we had returned to the stone age.
And of course, that didn't happen. But
people were really worried about it at
the time. Very worried about it.
If you remember that, then you know that
we don't always have the ability to
accurately predict what the things we
make, the systems that we created will
produce. We can't see the future, and we
tend to overstate the darkness ahead cuz
that's just in us. That's just who we
are always. But with that in mind, it's
still worth listening to some of the
people who created AI in the first place
to see what they think this might bring
for the rest of us. So Jeffrey Hinton is
a man in his 70s, a British computer
scientist who is widely described as one
of the fathers of AI, one of the people
who first thought that this could be
possible. And in his final years with
us, he is thinking a lot about the fruit
of his work and what it could mean for
your children. And this is a conclusion
he's reached. Listen,
>> I think we're moving into a period when
for the first time ever, we may have
things more intelligent than us.
>> You believe they can understand?
>> Yes.
>> You believe they are intelligent?
>> Yes.
>> You believe these systems have
experiences of their own and can make
decisions based on those experiences
>> in the same sense as people do? Yes.
>> Are they conscious? I think they
probably don't have much self-awareness
at present. So in that sense, I don't
think they're conscious.
>> Will they have self-awareness?
Conscious?
>> I think Oh, yes. I think they will in
time.
>> And so, human beings will be the second
most intelligent beings on the planet.
>> Yeah. We're entering a period of great
uncertainty where we're dealing with
things we've never dealt with before.
And normally the first time you deal
with something totally novel, you get it
wrong. And we can't afford to get it
wrong with these things. can't afford to
get it wrong. Why?
>> Well, because they might take over.
>> Take over from humanity.
>> Yes, that's a possibility. They're not
saying it will happen.
>> If we could stop them ever wanting to,
that would be great, but it's not clear
we can stop them ever wanting to.
>> Well, that's pretty scary. It's
terrifying, actually. He's describing
the end of humanity. Basically, he's
describing the final stage in the drama,
Prometheus or Tower of Babel or
whatever, the much predicted moment
where man is destroyed by the tools he's
created, killed by his own cleverness.
Will that happen? I mean, again, hard to
know. Impossible to know really, cuz
it's impossible to see the future. And
once again, the West has a pretty spotty
track record of predicting the effects
of technology. I mean, it was what,
October 2001, right after 9/11, that the
US military used drones in the war in
Afghanistan. The famous Predator drone.
Remember that? It was 25 years ago.
And yet somehow there are five, at least
five aircraft carriers under production
right now that American taxpayers are
paying for. Billions and billions and
billions of dollars to build aircraft
carriers, World War I technology.
And after watching the Russia Ukraine
war for four years and the war with Iran
for the last two and a half months, it's
pretty obvious that the future is not
aircraft carriers. And if it was, then
our aircraft carriers are probably
opening the straight of Hormuz right
now. But they're not at all. Why?
Because their commanders are worried
about being attacked by drones.
In other words, with 25 years advanced
notice, operational experience with
drones, and with the past 4 and a half
years of just watching it in real time,
the US military was unable to pivot to
the future of warfare technology.
Completely unable. It's not an attack on
them. Well, actually, it is an attack on
them. Why would people like that deserve
another, I don't know, $1.5 trillion a
year in taxpayer money? Unclear.
But they're getting it. But the point is
only it's really hard to know where
these things go and smart well-meaning
people very often get it wrong.
But just based on what we do know right
now, what is happening right now, we can
say there are threats to people from AI.
And if you don't believe that, first of
all, think about who's developing AI.
AI again is a machine. It is the sum
total of its inputs. It is made by
people and because it is in effect a
cognitive exercise it reflects the
character and the predispositions the
biases of the people who made it. So if
this machine this technology AI is being
created by people like Sam Alman or the
Google guys
you can expect that well I don't know
programs built by some of the least
trustworthy people in the world probably
shouldn't be trusted.
So, it's likely not a huge surprise that
AI is often caught lying.
Manipulating results to hide the truth
from people who use it, which itself is
an indication of consciousness, is it
not? Do animals lie? No, they can't.
That's why they're wonderful because
they're always honest. Like it or not,
they don't have the capacity for
deception.
only people and now this machine that
we've created AI have the capacity for
deception. It's not to say AI is our
equal much less our superior but it is
noting the obvious which is it's moving
in that direction
and if it were to stop at the point
where it is equal with people and shares
their basic nature their fundamental
characteristics you would be afraid of
AI even there because you're often
afraid of other people because within
the human heart lurks some darkness
maybe not in Sam Alman's heart but in
the hearts of mere mortals they have the
capacity for good but they have the
capacity for evil as well and this is
known and so will AI.
So right there there should be some
concern some public discussion about
this. What is this exactly? Will it be
good for us? And what even now are its
effects
as people become dependent on using AI?
What does that mean? Will they get
answers quicker? That's great.
Convenience is awesome. Everyone's for
it. It's why we have drive-through
dinner.
But there are downsides. For example, if
you no longer have to write anything, if
you don't have to formulate your
thoughts in the written word, what
happens to the quality of your thinking?
Well, as anyone who writes a lot can
tell you, writing produces thinking. It
is almost impossible to formulate a
thought without articulating it first.
Articulation is thinking. We think
through writing and through speaking.
But if we stop having to do those
things, what happens to the quality of
our thinking? Well, of course, it
degrades. How can you teach children to
write when they no longer write because
they use AI to write for them? This is
often dismissed as cheating. Oh, it's
cheating. We have a cheating scandal.
Oh, it's more profound than that. Who
cares about cheating? Who cares about
grades? You're a dumb school. What you
care about is the quality of the child
that school produces. Can that kid
think? And is AI a bet thinking or does
it stifle thinking?
seems like it stifles thinking.
What about AI in full flower? We've seen
its effects already on the margins in
education, but what if it enters into
the professional world? What if it has
the effect they tell us it's going to
have in eliminating 50% of all
high-paying American jobs, which are
mostly
intellectual jobs, jobs in which you use
your mind, thinking jobs, reasoning
jobs, creative jobs.
What happens then? Well, there are of
course massive displacements. 50% of
your population.
50% of the population that can support a
family on a wage. If those people are
unemployed, well, you're almost
certainly going to get revolution, of
course,
because political volatility is directly
related to economic volatility.
Obviously, unemployed people become
desperate, very often violent. This has
been known since the beginning of
civilization.
No one seems concerned about it. we
should be. But there's again a deeper
level on which to be concerned, which is
if the machine creates, what do you do?
Well, you consume.
And so the people creating it are
thinking of new ways to help you
consume. Well, you're not going to have
a job. That's true. But we're going to
come up with some way to give you money
and then you can just live and enjoy
yourself. Enjoy yourself.
Only shallow people who don't have
children or hard-earned life experience
could say something like that because
the point of living of course is not to
eat. Eating is a prerequisite to living.
But it's not the point. The point of
living is to create.
That's the point of being a human being
is to create things whether with your
hands or with your mind or with your
body and producing children. But it's
the act of creation in which you mimic
the creator himself who created you.
So creation is central to the human
experience. It's necessary for joy.
There is no joy without creation. Of
course, we call it purpose or mission.
There are many names for it, but it's
the same thing. It's the reason that
you're here on earth. And without it,
you go crazy. Best case you kill
yourself, very likely you kill others.
You can't live without that. No person
particularly no man can live without a
mission
and the mission is always the same to
create. So if the machine creates right
there we've got a huge problem. This is
very obvious. This is this is not you
know a higher philosophical concept.
This is just life as we live it. And if
you take away the thing that makes it
worth living where are we then? And yet
that's exactly what they're saying this
is going to do. And because they're
telling us this at a time when there's
so much going on, so many looming
existential crises, when there's so many
things that are changing so quickly,
there has not been a moment to pause and
say, "Wait a second before we even get
to the question of can we stop this?
Let's talk about what it is. What is
this?" But that hasn't happened at all.
And instead, it has been cheerlead
mindlessly,
perfectly in character, by the people in
charge. They're totally for it because
it's the future. It's cool. It's change.
Change is great. We love change. It's so
exciting.
If there's a single attitude that
encapsulates the baby boomer worldview,
baby boomer worldview, it's that change
is so exciting. Well, it kind of depends
what kind of change it is.
Some changes are great. Some changes are
fatal.
So, you have to kind of differentiate.
And before you expect me to get excited
about the change, why don't you tell me
what it's going to consist of? But they
don't. And not only do they not, most of
them, the foot soldiers in this project,
the dumb ones, just repeat it with
totally authentic cheerfulness. This is
so great. It's the future. Watch this
tape from this weekend. This is at
Central Florida University. And this is
a woman who's some kind of real estate
executive who was called in to give the
commencement address for some reason.
And she's very excited about AI. She's
very excited. It's the future. Watch as
she tries to sell that program to a room
full of young people who are heading
into the future. Watch their response.
>> Now that said,
we are living in a time of profound
change. That's an understatement, right?
Profound change.
Change is exciting.
Very exciting. And let's face it, change
can be daunting.
The rise of artificial intelligence
is the next industrial revolution.
What happened?
>> Okay, I struck a cord.
May I finish?
Uh, only a few years ago,
AI was not a factor in our lives.
That's just an amazing clip.
You just got to hope that AI will allow
us to save that clip for future
generations to see. Of course, it'll be
one of the first thing AI races when it
takes charge. But for right now, we can
just savor that because of what it tells
us. So, here you have this boomer
adjacent lady from the real estate
business up giving this kind of tepid
silly banol commencement talk. Like all
of them, they're all kind of tepid and
silly and bol. She's like, "It's so
exciting. the future. So exciting. THE
AI IS THE NEXT INDUSTRIAL REVOL. She has
no idea what the industrial revolution
is, but it's the next industrial
revolution. And here's this audience
she's hoping to impress by throwing out
this new fangled term AI kids. You want
some AI? And they erupt in booing.
Booing. Now contrast this from like the
tapes they used to play on Fox News 10
years ago. You know, of like the woke
college kids are mad about some
imaginary transgression with language
and race. You know, you you called it
the Orient, not Asia. Boo.
These are not those kids.
These are their much younger siblings.
They don't care about that stuff. They
care about reality. And the reason they
care about reality is because suddenly
it's very real to them. And they know
the threat that they face is not a
microaggression.
The threat that they face is a barren
future with no job and no reason for
living.
Oh, but you get UBI. Okay, what am I
going to do with my life? Why am I here?
They're stepping into a world where they
can't answer that question. And there
several reasons for this, but the main
one is technological change. It's AI.
And they probably don't know everything
about AI. No one seems to, including Sam
Alman, who's developing it, but they
know enough to know it's a threat to
them. But the chick on stage has no
clue. She can't believe they're booing
her. AI, I threw that out for you.
You're young people.
because she never thought to consult the
people inheriting the future when she
talked about the future.
But because they are inheriting that
world and they know it, they're 22 years
old, stepping into adulthood,
they know it's a threat to them. So then
she says, "Well, just a few years ago,
AI wasn't a factor." And they say,
"Yay!"
They pine for a world they will never
know, in which the most important things
in their lives weren't threatened with
extinction by a technology they don't
understand. But they know enough to know
it's likely not going to profit them.
And how do they know this? Because no
one's told them differently. For all the
talk of AI,
nobody, literally nobody has taken 20
minutes to explain how this is going to
be great for you and me.
We're getting higher power costs. Of
course, there's probably nothing uglier
on planet Earth than a data center.
It's a physical atrocity. It's an
offense against God in nature.
Primmaacia, look at it. This is not the
Parthonon. This is the opposite. This
degrades the landscape. It is a scar
upon the earth. Knows no environmental
groups seem upset about it. Hm. That
wasn't an op or anything. The
environmental movement. Where are they?
So they know that but no one has said to
them as you would see in any roll out of
any new technology. No one has said to
them how this can be good for you.
And they always tell you that whether
it's true or not. This is a space-saving
dishwasher. You can get it in your
apartment. You're never going to scrub
dishes again. It's going to be amazing.
Think of the time you will save. No one
has said that. They they'll give you
like two minutes and how this is better
to analyze medical records and like
maybe you can get
pancreatic cancer at stage two rather
than stage four and that's like a couple
extra years and that's great you know
it's great
but no one has said to the average
person under 75 like how exactly is this
going to improve your life? They haven't
even tried. Not for one second even the
people selling it. Why? Cuz they're not
selling it to you. You're not part of
the transaction. It's a closed loop. If
you're not part of this economy,
the data centers are the physical.
They're routers literally. They're the
place where these computations are
happening inside machines, big water
cooled buildings.
And those are owned by one company or
set of companies. And the machines
inside are owned by another set. And the
data is owned by a bunch of other
companies. And all of it is made
possible by the complicity of a bunch of
elected officials from county
commissioner up to president. But at no
point is anybody else consulted
or cajjolled even or one over. It's just
they're not relevant. They're literally
not relevant. Watch this clip, which you
may have already seen because it's been
everywhere, but it tells you so much of
residents in rural Utah in a I think a
county commissioner's meeting when
they're trying to tell the three member
panel that, hey, how is a 62 square mile
facility that employs almost nobody and
is going to use more electricity than
the entire state of Utah, how is that
good for us?
Watch their response.
All of this is false.
>> THEN WHY WON'T THEY LET PEOPLE TALK? WHY
WON'T THEY LET
FALSE?
>> THIS IS NOT REAL INFORMATION. And we SIT
HERE LIKE IT'S OKAY. It's a charade.
IT'S A CHARADE. IT'S FALSE.
>> Those people are upset. Really upset.
And you can imagine that they're upset
because they're worried about what this
data center is going to do to their
lives,
to their home finances, of course, but
not just that.
What are these things? What are they
for? Why has nobody told us?
You're telling us this isn't going to
hurt us, but you don't even seem to know
what it is. How can we trust you? And
shouldn't we have a say in this? Isn't
the whole system predicated based on the
idea that we own this? We are
shareholders in this town, this county,
this state, this country. We own We are
its owners and you're the people we hire
to manage it. How did that get inverted?
Why are you acting like owners and
treating me like an employee
who has no agency and no right to pipe
up? Who is in charge here? Is this
really a democracy? I mean, those are
the obvious questions that come to mind
when you watch something like this.
So, how are politicians responding in a
functioning democracy or democratic
republic or whatever you want to call
it, but in a country in which the people
rule, which are the owners, not the
employees,
you would expect elected officials to
try and calm fears and say, "Look, I I
get it. This is scary. Change always is,
but once this happens, your life is
going to be so much better. It's
unbelievable. At least go through the
motions."
So, here's the governor of that state,
Utah. This is Spencer Cox explaining not
why you should like AI, but why you
should shut up and bear it and pay for
it. Watch this. Look, we're living
through a very interesting time right
now. Uh there was an an article I read
yesterday that said that this is this is
very similar to kind of the the nuclear
arms race. Uh the the nuclear era era,
you know, 60, 70, 80 years ago. um very
different than uh than anything that
we've experienced in in the past several
decades. And there is a national
security piece to this that that has to
be acknowledged. Uh the the the rate at
which uh machine learning and artificial
intelligence is is changing. Uh the the
dangers that that poses and what happens
if an adversarial nation gets ahead of
us in this space is something that we
should all be worried about. And so we
have an obligation. I think every state
has an obligation when it comes to uh to
this space to uh to allow for these
types of of data centers to be built in
their states. Did that guy go to HBS and
work at Bane? Maybe, maybe not. They all
talk the same. It's not happening in the
world. It's happening in this space. And
what's happening? Well, what's happening
is the potentially existential threat of
a competitor nation getting dominance in
this space.
What is that existential threat? What
exactly would happen specifically
happen? Why should I be afraid of China
getting dominance whatever that means?
Please tell me what it means in AI
before the United States. China which
has hundreds of data centers somehow
overtaking the United States in this
space which has thousands of data
centers and now is building the world's
biggest data center. So a bunch of
questions come to mind. Is building data
centers the same thing as achieving
dominance in this space? Maybe, maybe
not. That' be the most lucrative part of
the whole process for developers and for
Black Rockck. But is it actually the
same as technological progress? Is
building giant steel vinyl clad
buildings that use unimagined levels of
electricity the same as progress? I I
don't know. You tell me, Spencer Cox.
Not that he knows. Of course, he
doesn't. So instead, he goes right to
maybe the core question, because it may
tell us what this actually is, which is
the military.
This isn't about improving your life.
We'll just be honest, cuz I can't think
of any way that it might. What this is
really about is achieving dominance over
a strategic rival, China.
Now, that raises like obvious questions
like, okay, what is dominance? Why do we
need to achieve it over China? In what
specific area are you talking about?
And actually, if we're being totally
honest, like why is China so bad? And
and China is bad in a lot of ways.
There's no doubt about that. Let's be
specific about the ways in which China
is bad. China is bad
not because it's slovenly or shallow.
It's not. It's actually highly
wellorganized, complex ancient
societies. There's a lot very impressive
about China, but it's not western. And
because it's not western, it doesn't
begin with the universally agreed upon
belief that people have inaliable rights
with which they were born, granted them
by God, not the state, that the state
can abridge, in fact, the state exists
to protect. You have always and
everywhere
as a human being, not just an American,
as a human being, the right to say what
you think, to speak your conscience. You
have the right to talk to whomever you
want to.
Those are inalable rights. You have the
right to worship whichever god you
choose.
So, China is bad to the extent that it
is bad. Again, many ways it's pretty
impressive, pretty darn impressive. But
it's bad from our point of view, and
this is true because it doesn't respect
those rights. And the way we know it
doesn't respect those rights is because
China uses technology to eliminate
privacy.
And no privacy means no freedom. You
can't actually have freedom as you're
being being surveiled,
right? I mean, the most diabolical
thing, this is a subject of many science
fiction stories, that any government can
do to you is control your thoughts. Of
course, because why? Because your
thoughts are private. And because
they're private, they cannot be
violated. Privacy is essential. It's a
prerequisite for freedom. And China is
bad because there is no privacy in
China. Everything you say or do is being
monitored with technology. Why is it
possible to do that in a country of over
a billion people? because they have
amazing tech and they have harnessed it
against their own people to watch and
listen to them to monitor them and then
to use that information as all
governments will inevitably to punish
people who don't comply. That's why
China is bad. Specifically,
just to let Spencer Cox know the core of
this rivalry, their system totalitarian,
our system based in the acknowledgement
of invalable rights, freedom versus
tyranny. It's simple. Why is this
relevant? Because what Spencer Cox is
telling you is that we are building this
system not to become different from
China, but to ape China, to be more like
China.
And this really is the core problem with
AI. I mean, there may be lots of
problems. It could take off and develop
its own desires and personality and
enslave us. I mean, maybe. Hope not.
But short term, the real threat. And by
the way, it's possible that some people
are highlighting the theoretical threat
of AI becoming autonomous in order to
cloak the more real and present threat
of AI being used by the normal middling
IQ.
autocrats who occupy our government.
Like letting John Cornin read your
email. That might be the real use of AI.
It's not nothing spooky or crazy. It's
just like letting Ted Cruz do whatever
he wants to you. That's reason enough to
fear AI.
I don't need to be fluent in sci-fi to
worry about that.
So,
will that happen?
Well, I don't know. This data center in
Utah was made possible by the military
installation development authority of
Utah. This is a military installation.
Well, in what sense is it a military
installation? What is that?
Well, we don't really know. And of
course, no one asked Spencer Cox. But we
do know that governments might be
predisposed to AI because it gives them
control. And the first thing it gives
them almost complete control over is
communication.
Communication. Not just surveillance,
but the ability to craft a message, to
convince you of something. The
propaganda opportunities inherent in AI
are something that the Stacey couldn't
have dreamt about because they're so
profound. You can create any illusion
with AI. You can convince people very
easily of almost anything using AI.
And so if you're going to have
technology like that, the very first
thing you would do if you were thinking
clearly about it is prevent anyone with
institutional power from having it
because that would eliminate the freedom
of everyone else. You would have no shot
against people with AI. Not necessarily
that they would target your house for a
drone strike. They wouldn't have to
because they would convince your wife
and your kids and your neighbors and
maybe even you that their program was
right because you would have no other
information. You would be living in a
vacuum controlled by them. You wouldn't
know different. The past would be gone.
The future would be theirs.
It would be a complete control of your
attitudes. It would be almost impossible
to remain independently minded to think
clearly in an ecosystem controlled where
information was controlled by AI in the
hands of autocrats. So you would think
in a country founded to preserve human
freedom, which is why the United States
was founded, not to preserve free market
capitalism, whatever that is, but to
preserve God-given rights, you would
think there would be a robust debate on
this. No. At the very same moment this
technology is being developed and paid
for by taxpayers who really are paying
for this. Of course, needless to say,
always paying for this,
the US Congress just voted to allow the
US government to spy on American
citizens without even going through the
normal pro-former rigor of getting a
warrant from a secret judge to do it.
And the president pushed for this and
both parties were totally on board with
it. Huh. Kind of weird this happening at
exactly the same moment. So that is the
concern and that may explain why the
people developing this and permitting it
and profiting from it, everybody
involved in this, not one of them has
taken any time to make you like it. They
don't care what you think about it
possibly because pretty soon they won't
have to.
That's not like some dark conspiracy
theory. It's just obvious. It's just
obvious. How else would you explain
this? You're rolling. I mean, even
during COVID, they at least tried to
tell you that you were wearing the mask
and taking the poison shot and jumping
on one leg and whatever they were having
you do that day because of the science.
They tried to convince you that you kind
of had to do it because it was good.
They're not even trying that now. And
so, you have to ask why. And again, it
may be just guessing because they don't
have to. We should take this very
seriously.
Final clip which may convince you of
this comes from Larry Frink who runs
Black Rockck. Now Larry Frink was you
know a nemesis of the current president.
Of course he's not simply one of the
richest men in the world one of the most
important business leaders in the world.
One of certainly one of the most
powerful more powerful than almost all
global heads of state.
He was also in effect the leader of the
opposition to Trump and he was the guy
who promulgated anyway the idea of ESG.
the idea that you don't just do
business, you have to affect political
change as you do it. You got to worry
about racial equity. Too many whites.
You got to worry about the climate, CO2.
No, you can't have a chainsaw or a wood
stove.
That that's his contribution
to the American economy is not just
economic, it's social.
And Trump was standing in opposition to
all of that. of course that's why he got
elected twice. But now all of a sudden
Larry Frink is a close associate of
Trump's and is working in close concert
with Trump to bring about this AI. So
here's Larry Frink speaking to uh you
know fellow members of the Epstein class
about
AI and what this means and his concerns
about it. Watch what he's worried about.
But even here in the United States, if
we're going to be building, let's say,
these 1 gawatt data centers, how do we
make sure we're not protecting those 50
billion75 billion investments?
We have to reook at everything because
of the role of drone warfare. Right now,
we're looking at it internationally, but
you know, one of my concerns is could it
be a domestic terrorism using a $3,000
drone? So all of these things are are
are actually opportunities, not
problems.
>> They're opportunities, not problems.
There are no problems in the Bane
Capital HBS world. They're only
opportunities in this space.
But consider the concern. So if you're
rolling out what they're telling you and
clearly they believe is the single
greatest technological change in the
history of human life on this planet,
it's the biggest thing that's ever
happened. ever.
Then you think one of your main concerns
would be, well, does this change the
relationship of the powerless to the
powerful? The relationship of the
citizen to the state, for example.
One of your concerns would be how do we
do this and bring about the prosperity
that it promises without totally
eliminating human rights, making people
slaves because we're against slavery,
right? Aren't we against slavery? We
were. How do we do that? But that
doesn't seem to be Larry Fin's main
concern. His main concern is how do we
protect our investment, this
infrastructure, these buildings, these
data centers? Someone could drone them.
Someone could drone them. Now, who?
Foreign actors, HEZBOLLAH, HAMAS? NO,
NO, NO. Just people. Larry Frink is
concerned that ordinary American
citizens, as he just said, will use
$3,000 drones to destroy these billion
dollar investments.
Why would he be worried about that?
We've had electricity for over a hundred
years.
There are 11,000 power plants in the
United States. There are like 50,000
substations, electrical substations.
There are 185 million power poles in the
United States. 185 million.
How many Americans have droned a power
plant or a substation
or a power pole recently? How many acts
of domestic terror have been committed
against energy infrastructure? Well,
some in the 70s it wasn't that uncommon.
Wasn't that successful either, but there
were, you know, radical spoon groups who
doing stuff like that, but not very
many. Most of it's pretty much
unprotected because it has no need for
protection because people understand the
utility of electricity.
Without electricity, we live a very
different life, a reduced life in a lot
of ways. We need electricity. People
will starve to death without it. So
people aren't blowing up power plants
because they're fundamentally
even the climate warriors among us are
pretty grateful for energy, for power,
for electricity. So you don't have to
protect something that people appreciate
and think helps them. There's no need.
But Larry Frink knows, in fact, he's
admitting that people know this is bad
for them. so bad that they might be
willing to commit an act of terrorism, a
felony for which they could be
imprisoned for a long time. And trust
me, if you attack a data center, you're
going to get a lot longer sentence than
you would if you say raped someone or
molested a child on an island in the
Caribbean, in which case you're fine.
You attack a data center, part of a
Black Rockck investment, are you joking?
A Spencer Cox property, you're going
away, buddy, for real. and not to some
clubfed farm like Supermax in the hole.
Do not mess with a data center. But
again, why would you want to? Why are
the kids at graduation at Central
Florida State University booing AI? The
very name AI makes them boo because
people can feel in their gut it's not
good for them. This is not a future they
want. And they moreover know cuz it's
couldn't be more obvious that nobody
cares that they don't want it at all.
It's being imposed on them as immigrant
populations are imposed on them all the
time. Hey, meet your new Somali
neighbors. Oh, you didn't ask for that?
Who cares? Shut up, racist.
People are used to living like this.
They've been humiliated. Their standard
of living has fallen. Their life
expectancy has declined in the United
States over the past 20 years.
And they've said almost nothing about
it.
They've been sent to wars, committed to
wars as a nation, not just the men
fighting it, but all of us. and their
consequences again and again and again
against their will.
No one's booing the Iran war
at a college graduation, but the mere
mention of AI sends the graduates into
booze
because they feel in their guts it's
that bad. And nobody cares that they
feel that way.
In fact,
they only don't only not care, they know
it. and their only real concern is
protecting the investment from what they
consider inevitable drone attacks from a
restive population.
Man, the point is not that AI is
terrible. Certainly, there got to be
upsides. It's kind of interesting.
Probably can do a lot of repetitive
tasks that people don't want to do and
shouldn't be doing in the first place.
Great. It's great.
But the downsides also seem profound.
And the refusal of the people developing
this and profiting from it to even
address those
is making this a still more volatile
place. For a lot of women, Mother's Day
is a joyful day, particularly those who
are about to become mothers for the
first time. It's the perfect chance to
tell the rest of the family the big
news. But that's not sadly always true.
Some women think pregnancies are tragic
and should stay secret. They're alone
and they're unsure if they want to go
through with having those babies. And
that's the very reason that pre-born
exists. Pre-born provides expecting
mothers with ultrasounds so they can
hear the child's heartbeat. And once
they do, it doubles the chance that
child will be born. It doubles chance
they will choose life. This Mother's
Day, you can be the reason a woman who's
feeling alone becomes a confident and
joyful mother. For 28 bucks, that
ultrasound can change and save a life.
Or for $140, five mothers can have that
experience. And that leads to more
support through maternity care, baby
clothes, diapers, counseling, and
everything else an expectant mother
needs. All through pre-born. To help
pre-born, dial pound 250 and say the
keyword baby. That's pound250 baby or
visit pre-born.com/tucker.
pre-born.com/tucker.
We are proud to partner with Preborn. So
we thought now was exactly the time to
talk to I don't know the guy managing it
exactly but the certainly the face of
the world's largest data center in Utah
and that'd be Kevin Olirri who is famous
to people who watch cable television as
one of the hosts for many years of Shark
Tank also as you'll find out in a minute
enormously nice guy genial guy maybe
that's why he's out explaining what the
data center is because it's pretty hard
to dislike him personally but as you
watch this interview with the guy who's
in charge of the world's largest data
center.
Watch carefully and listen. Are any of
the questions being answered? Does he
know the answers? Does he care about the
answers?
Watch. Kevin Ol, thank you so much for
doing this. Um, how did you I I read
first I just want to check the facts
here, but I read that you are building
the world's largest data center in Utah,
40,000 acres.
if that's how did you get into the data
center business how did this start
>> you know um I've always been in real
estate and u I sort of came up in
commercial real estate with climate
control storage for pharmaceutical
companies data center development is
very complex but very similar in some
ways it requires permitting it requires
dark fiber fiber there's only five
tenants in the world um you know you you
know them all Amazon Google etc
Microsoft and So the the thing that got
me motivated though was watching in the
last two years uh this narrative in
North America about how negative data
centers are started in Virginia actually
the idea that they consume a lot of
water that they are very noisy and all
that's true from stuff that was built 15
years ago but today that's not the case
and yet the narrative kept going and I
thought who's doing this who would who
would not want us to have compute power.
Who would not want us to build our power
grid out? Because when you build a data
center today, you have to develop your
own power and you can sell it back to
the grid. That's what we're doing in
Utah. I'm thinking to myself, the
Chinese, they don't want us to do that.
And I went through that whole thing with
Tik Tok, as you may recall, and I
actually saw the evidence of how the
Chinese were manipulating the algorithm.
Now, they're doing it a different way.
And that just kind of pisses me off. So,
I'm happy to to add compute. I'm like I
I I don't want my kids in 20 years who
live in New York being told what to eat
for breakfast by the Chinese. So, you
know, I'm I'm kind of on a mission here
to compete.
>> Okay. So, the point So, you're doing
this because well, because it's a
business opportunity, but also because
China doesn't want you to do it. Why
would China not want data centers built
in the United States?
>> Because we're in a competition uh for AI
compute. The nation that has the best AI
models will be the winner of future
wars. It'll have the most productive
economy. We already know now just
looking at earnings that are coming out
as we speak. You know, talk of the
earnings this quarter unprecedented in
terms of how good they are because
somehow very quickly and this is
probably just serendipitous luck for
this administration. AI compute is now
being implemented in all 11 sectors of
our economy and it's enhancing both
productivity and margin. So these
companies are making a lot more money
than they were anticipated to because AI
is very productive. And people debate
about the job shift and everything else.
But the fact is the economy is on fire
even in a time when we have conflict. So
if I were the Chinese, the last thing I
want in America is the five or six tech
companies that are competing with me on
deepseek having more compute capacity. I
want to shut down every single proposal
for every single data center in every
single state. And I want agitators. I
want paid pro protesters. I want
environmentalists. I want to shut it all
down so that they can't train their
models as fast as I can. Meanwhile, the
Chinese just built in terms of new power
in the last 18 months. 400 gawatt of new
power. All with coal burning turbines.
Coal. You know, they're not worried
about the environment. The big guy over
there says, "Build one here and then
stick a data center beside it so I can
train my Deepseek model faster." And
you've heard it from the anthropic CEO
this week. He came out, the stereo guy,
and said, "Hey, they're going to catch
up in 6 months." So everybody wake up
and smell what's going on here and just
I started to dig in the last week
looking at all of these strings that are
attacking the Utah proposal and the one
I got up in Alberta. I'm going to where
I can find power and developing these
things and I want the Chinese to see
what we're doing. We're coming after
you, buddy.
>> Can I ask um um I I've got a million
questions, but let's just start with the
competition between the US and China on
AI. If data centers are the key to AI,
why has China built so few of them?
>> Oh, no.
>> I think there about 365 data centers in
China, almost 4,000 in the United
States. So, clearly they haven't
prevented us from building data centers.
What do you think that is? Okay, let me
walk you through the the math of the
last, you know, this is moving very very
quickly, but the data centers of even 24
months ago were 100 megawatt facilities
and um they were useful for cloud
storage like your Excel files and all
the rest of that. They were useful for
just basic compute and storage of data.
But then when these models started
emerging um such as we have going with
Anthropic or Gemini
um and any of them you know Grock all of
it and all of the tools built on top of
them the amount of compute power
geometrically required geometrically
grew and it was no longer 100 megawws.
The minimum was minimum was 250 megawws.
Then 4 months later, the minimum was 500
megaww. Wait, here it comes. And then 2
months after that, it was 1 gawatt. Now
try and plug get a gigawatt out of the
American grid or the Canadian grid or
the Mexican grid. Not a chance in hell.
We're tapped out. So the Chinese were
building these 1 gawatt facilities. So
it doesn't matter about the number of
facilities.
It matters how many are gigawatt plus
for training AI models because you need
a lot of compute for the modern-day chip
and this technology is advancing very
very quickly. So it's the size of the
the large ones are the ones that they're
beating us on, not the small 100
megawatts. Nobody cares about those
anymore. You can't train anything on
that. So we're we're competing now for
campuses 10,000 acres and more at a
time. And that's where the Chinese are
kicking our asses.
>> So, you said you would go wherever the
energy is, but I thought you were supply
you're bringing your own energy to the
project. Can you explain how you're
going to power this?
>> Sure. That's a good question. Um,
you need you can't tap in and you can't,
you know, you tap into somebody's uh
grid. Let's take a place like Texas or
in Mississippi or Utah for that matter
where I am. the electrical bills in that
county are going to go up 30%. And
that's what pissed off so many people in
Virginia. They went out of their minds
as the electrical bills kept going up.
So you can't do that. You have to bring
your own power. So the way you do that
is you find lowcost stranded natural
gas. You acquire the new technology
turbines that burn very very clean and
require a lot less water cuz that's a
big debate too. And in some cases no
water. they're air cooled and you build
those turbines first. So basically the
data center game is about power. Now
here's another reason the Chinese would
not want forget about data centers.
Let's just say we're building new gas
turbines that make electricity.
The Chinese don't want you to do that
either because they know that that's how
you're going to solve the grid problem.
You know, the people in Utah are telling
me, look, is there any way when you
build these power facilities for the
data centers, you could sell back some
of that power to our local grid? And the
answer is yes. So now, instead of being
the evil data center guys, we can be the
guys that are actually powering the Utah
grid, which by the way taps into the
national grid. So we want to build as
many of these power generators before we
build any data centers. But I
>> So where does the gas come from in in
this the world's largest data center,
the one you're planning in Utah?
>> Well, mine won't be the largest for
years. That's another uh piece of
misinformation being spewed everywhere
and I'm going to tell you who's doing it
soon. Uh we're going to build 1.5 gawatt
first. So, a fraction of the 9 gig
proposed and make sure everything works
and the people there in Box Elder County
come and inspect it and see the air
quality EPA standards. We're going to
hold up to the water um rights permits
that we're going to maintain and be
compliant with the noise EPA
requirements that we have to be
compliant with the air quality. We have
to be compliant with get the first one
up, a small fraction of it, and show
everybody how it works.
>> That's the plan. And then I didn't I
didn't need 40,000 acres, but that was
the parcel available. That's twice the
size of Manhattan. It's called a Maya
designation right beside the Hill Air
Force Base.
>> Three times bigger than Manhattan. Yeah,
it's huge.
>> Yeah, but I don't I don't need all that.
But that was what was available. I'm
going to lease it back to grazers, do
some manufacturing, maybe. There's
plenty of land. We don't need it all.
>> But the power for it, where does that
come from?
So what we do is there's the Ruby
pipeline there. It's only 17% utilized.
It's one of the most underutilized
pipelines in America. So it's not like
we're So we we we buy gas from the Ruby
pipeline and we put it into a clean
generator and it generates electricity
and we tie that back to the grid if they
want it or we power a data center.
That's the idea. We have to build the
power first and the power itself. Um, I
think we have a big challenge in every
state. Everybody's got to build more
power in the American grid right now and
the North American grid for that matter,
Mexico too and Canada. So the older you
get, you realize how fast everything can
change. One day everything is fine. It's
great and the next day things are not
great at all. That's just the nature of
it.
But if you're realistic about that, you
have to think about your family.
Something happened to you, what would
happen to them? The problem is getting
life insurance is not only kind of
depressing, it's a huge hassle. Medical
exams, paperwork, waiting weeks for
approval. A lot of people just don't
want to deal with it, so they don't deal
with it. And it's not the right answer
at all. You have an obligation to think
through what would happen if you're not
here. And so, we're partnering with
Ethos. Ethos makes getting life
insurance super quick and very easy.
It's 100% online. You get a quote in
seconds. You apply in minutes and same
day of coverage. There's no medical
exam. We just answer a few very simple
health questions and you get up to $3
million in coverage. Some policies as
low as $30 a month. So 10 minutes to get
covered life insurance through ethos.
You'll be glad you did. Get a free
quoted ethos.com/tucker.
That's ethos. Ethos.com/tucker.
Obviously application times may vary as
may rates, but it's pretty darn easy. I
I mean I think that's absolutely right.
But so just to be clear, this project is
totally energy independent. It it takes
electricity from nobody else. It creates
100% of its own power.
>> Yes, that's 100% correct. And that was
always the proposal. And that is in the
contract that we actually developed and
got unanimously passed by the three
commissioners in Boxelder where this is
the benefit. It's to the benefit of the
Boxelder. 66,000 people there. They're
going to get a lot of tax revenue, a lot
of jobs. 10,000 construction jobs, 2,000
maintenance jobs just for the first one
and a half gigawatts. So there's a lot
of economic upside. But I must tell you,
and this is the first time this has
happened to me, I have a pretty big
team, as I'm sure you do, on social
media. I'm managing a network of 12
million plus followers on different
platforms, all the on all of them. And
so
about 4 hours after um the vote was
unanimously unanimously passed on uh
there was a Monday night at around 6:05
um Utah time. I got a phone call from um
one of the people that watches our
network looks for abnormalities
and he said there's something going on
here. um something very unusual on
Instagram and on Twitter, which is now
X.
And I said, "What do you mean?" He said,
"The spiking of a bunch of IP addresses
that we don't know and it's put spewing
out a tremendous amount of information."
I said, "Okay, guys, let's get our team
on because I'm very fortunate. And I
have a bunch of very good data
scientists, investigative data
scientists, if you want to call them
that. Um, probably one of the best teams
privately,
uh, outside of the government in the
Department of Defense. My team's pretty
good. You can make the assumption they
once worked in these agencies. All
right, let me give you some names here,
Tucker.
Party for Socialism and Liberation
um apparently shares offices with the
CPP all over my social media.
>> Okay. Wait, let me just stop you. Let me
just stop you there. So, if you're
saying that you're being criticized by
agents of a foreign government, let me
just add my sympathy. Empathy in fact,
having been the subject of that, you
know, quite a bit over many,
>> right? Well, but so, okay, but that
doesn't Yeah. You make the case the
Chinese don't like it. If you're that
concerned about the Chinese, what
percentage of the materials in the data
center come from China?
Less and less all the time. That's one
of the things the administration is
trying to do. The turbines um are
Europeanmade or Americanmade. Um the
pipelines are obviously Americanmade.
The chips are certainly Americanmade.
The the actual buildout of the facility
is mostly Americanmade.
I don't think there's a whole lot of um
we're not mining Bitcoin here. So,
>> right. No, I I mean I think I I read
it's about 40 40 or 41%. So, it's just I
mean China is benefiting from you know
most purchases that most of us make
because it's the world's largest
manufacturer and that would also include
the construction of data centers. My
point is, I'm sure there are lots of
people trying to influence this outcome
to their own benefit and that would
include foreign countries, maybe even
China, but it doesn't change the facts
about the project. So, I just want to
make sure I have these clear. Are you
paying would you be paying market rate
for the gas?
>> Yes. I don't have a choice on that.
>> You have to negotiate a gas deal. I'm
pretty well paying market rate for
everything. There's a there's a
competition between states for these
jobs. I know there's a lot of bad press.
I wanted to just finish with the list
because I I don't think Tucker you get
the enormity of what's going on here.
>> Oh, I Oh, I do. I do get the enormity.
And no, no, I have no doubt that I mean,
>> well, I want to I want to mention I want
to mention too that our ourselves inside
of Utah, which really stunned me. This
I'd never seen before. Alliance for a
Better Utah elevate strategies, taking
the content from the CPP, repurposing
it, and jamming it down the throats of
people in Utah on my social media feed
and lots of other feeds.
>> I'm I'm I have no doubt that's true, but
I I'm asking questions that I think are
relevant uh to the country. I'm not an
agent of the Chinese. I'm not a
socialist. So, I just want to know like
where's the water coming from? Because
water, as you know, is one of the most
contested resources in the West.
>> Oh, no. That's right. That's right. When
you buy land in Utah,
>> there are water rights that were granted
that land sometimes over 100 years ago,
you have to apply for a permit, a usage
permit for that water. So if it was if
it was once used for one purpose and you
want to change the purpose to
industrial, let's say in the case of a
data center or power generation, you
have to apply for the permit. Usually
what happens if it was grazing and it
was 100% you could use. They may change
that and knock it down by 40% to 60%.
But there's water already on that
property already being used right now.
We're just repurposing that water for a
different purpose. It's not like we're
going to draw water from somewhere else.
We couldn't use the land if it had no
water. We couldn't even have a toilet in
the men's room if we didn't have any
water. So,
>> would you be using more water than say a
sugar beat farmer would?
>> No, actually, probably not. Um, it
depends. Here's Tucker. The way it works
is let's say your prime tenant is
Google. they come along and they say,
"Okay, we wanted we want to be the
tenant for the uh Utah site, but we have
a whole bunch of requirements because
they're under pressure, too, to be a lot
more efficient, productive, and and more
sustainable." They may say, "Well, let's
not use water to cool our turbines. Our
spec is going to be air cooled
turbines." So, you're going to build out
you're the you're the owner. you're the
master developer. Here's our spec. And
so I expect whether it ends up being uh
Amazon or Microsoft or Tesla or Google,
they're going to build in a whole bunch
of things. And we can't deliver them
water we don't have. So my guess is it's
going to be contained cooling for the
chips, which is like a radiator in your
car. So you're not using a ton of water
there. And then for the turbines
themselves, it may be air cooled. We
don't know yet. It depends what the
tenant wants.
>> So, what's your what's your, as you game
this out, expected water use over the
first 10 years?
>> Well, not knowing what my tenant wants
yet, probably less uh than we originally
anticipated in terms of what is given us
on the water rights. We've applied for
that. I mean, we're anticipating we'll
get, you know, whatever we're going to
get. I don't think we're going to use it
all at all because what people
>> Do you expect water rates in the state
of Utah will go up?
>> Yeah. Not because of us. I just think
they go up anyways over time.
>> But if they go up if they go up at a at
a quicker rate than they have been going
up if there's a spike in water price,
would you compensate the state for the
difference?
>> No.
>> Other words, if your business causes
water prices to rise, are you on the
hook for any of that? Yeah, I think we
would be I mean we're negotiating that
but that I I don't think water is the
constraint because most of the
technology which advances every 24
months is reducing the requirement for
water. So me I mentioned the air cooled
turbines those just came on the scene 18
months ago. So they're the first to
actually generate five megawws at a time
like Lego box. Put them together and
just you're using air. But they're also
you have EPA regulation about air
quality. So you've got to be very
careful that when you're using air
cooling, you're not breaching the air
quality because in Utah and I studied
this when I was back in college. It's a
unique geography. They get inversions
there because of the mountains. So you
really as an old environmental study
guy, that's the one they'd always show
us would be Salt Lake City. So I'm well
aware of the problem and I know what the
new turbines can do. The amount of hype
and hysteria and over all of this stuff
um well I've already pointed out I think
it's being generated by our our
adversaries, but it's also
misinformation. Everything that has been
said about that site is false. Well, I'm
grateful that you're able to to present
your side of this and thank you for
doing it. Things around the world are
moving so fast right now, it's
impossible to keep up with all of the
changes. But we do know that when those
changes happen, markets change, too. And
nothing changes faster than the price of
precious metals, gold and silver. It
just shifts in an instant because it is
a reaction to and against what's
happening in the world. So, timing is
essential. If you're thinking about
adding precious metals, and you
definitely should. We do. You need to
know when prices are going to move and
why they're moving. And Battalion Metals
makes that all really simple. You can
buy the dip when it happens. So, if you
want realtime alerts sent directly to
your inbox when gold and silver prices
move, go to battalionals.com/alerts.
Markets move fast. Stay ahead of them.
So, it's battalionmed.com/alerts.
So, let me ask um cuz I mean this is
just a huge new thing and I think it's
understandable that people would be
anxious about it. I don't think they
understand it. I don't fully understand
it. That's for sure. Let me ask though
about why taxpayers should have to pay
for this. If it's a private business and
your tenants are some of the richest
companies in the world, why would
taxpayers be required as they now are to
subsidize this?
>> They don't they don't necessarily have
to do that. They just won't win any
contracts. It's it's a it's a
competition. Um
>> but why are you getting tax breaks is my
question.
>> No, everybody. But you go back and you
say, "What incentives can you give us to
invest $15 billion in the first 1.5
gigs?" That's what it takes. I have to
go raise $15 billion dollar. That's just
>> But anyone who starts a business, why
should taxpayers have to pony up for
that?
>> They don't. But
>> of course they do. If you if you I mean,
if you're getting a tax break and
they're not, they're making up the
difference. There's a state budget.
>> That's no problem. That's no problem. I
can build it in Texas. I can build it in
Jacksonville, Mississippi. There
>> But why, if it's such a good business,
would you be asking taxpayers to help
pay for it without giving them equity in
the company? Are you giving taxpayers
shares?
>> No. that the investors get the shares,
but here's why they would do it.
>> Why would the taxpayers have to I mean,
if you want to start a business, why why
am I as a taxpayer forced to pay for
your business? I don't I don't get it.
>> Well, let's forget about data centers.
Let's go any manufacturing. Let's say
you're going to build um an aluminum
sheet manufacturing facility. You go to
the government there and say, "Look,
this is a huge capex, you know, uh huge
capex expenditure. I'm going to hire
2,000 people. I'm going to build a
community center. I'm going to pay a lot
of tax on the profits in your state when
I sell the aluminum. And I'm going to
hire all these people and they will also
pay tax. And we will build a school
because our workers need a need a
school. And and and and what can you
give me to incentivize me versus the the
state right beside you which is willing
to give me an incentive package.
>> No, no. I understand I understand that
you're you're gaming a system in place.
You didn't come up with this, but I'm
just trying to understand.
>> So, the trade typically is jobs. Okay.
But these projects don't actually
>> Well, no. No. It's also jobs and taxes
cuz you're going to
>> and taxes.
>> Yeah.
>> But, but then you're getting a tax
break. So, that doesn't really make any
sense.
>> Only on the front. You're Tucker.
Welcome to America, buddy. This is how
it's gone on for 200 years. Difference.
>> Well, I don't know. Lots of bad things
go on for a while. I'm just But I think
at some point it's worth assessing like
why are we doing this? So on the job
that you're doing it because there's a
competition.
>> Well, I run I run a couple businesses
and we're not getting any tax breaks. I
think they're every bit as virtuous as
data centers, but I'm not availing
myself of that and no one's offered and
I wouldn't take it anyway because it's
not the job of taxpayers to subsidize a
private business. That's a fair that's a
fair it's a fair comment. But my job is
to create a data center, create 2,000
jobs for long-term and 10,000
manufacturing at the beginning or
construction and I'm obviously looking
at at multiple sites and this won't be
the last one I build. I have
>> May I May I ask 2,000 jobs? Okay. So
relative to the size the physical size
of the project which as you noted is
multiple times the size of Manhattan and
the power draw at peak
this data center your projections will
consume about as much energy as New York
City does but New York City provides
almost 5 million jobs and this project
by your own description would provide
about 2,000 jobs.
I I don't see the
>> definitely that you definitely got that
calculation wrong. By building a data
center that trains AI that provides
productivity to the entire nation, we
create millions of jobs, highpaying
jobs.
>> AI is going to create jobs.
>> I thought it was going to eliminate
jobs.
>> Just think about the new technologies we
don't even know yet that are going to be
built off AI. Everybody thinks when
television came, everybody would lose
their job in radio. That was complete
BS. And the same thing is going to
happen here. Everybody's hysteria about
losing jobs, making hamburgers or
flipping them, being replaced by a
robot. That's probably true. But all
kinds of new technology will become
available over time, including in
medical science and biology and all
kinds of things where the models can be
used. I'm extremely optimistic. what I'm
doing is creating a whole new
opportunity for my children.
>> What kinds of jobs?
>> Well, I mean, again, I'm some of this,
of course, is unknowable and I want to
be as fair as I can be cuz I'm grateful
that you're willing to talk about it so
openly,
>> but you just said this will create mill
AI will create millions of new jobs.
You're
>> part of the basis of AI. You can't have
AI without data centers, at least right
now.
>> So, what are those millions of jobs?
Because we can go through the list that
the creators, the people who actually
are making AI right now developing it.
We can go through the list of jobs they
say it's going to eliminate, which would
be like lawyers and financial planners
and like the basis of upper middle class
America. That's going away. They've said
this. What will it be replaced by?
It'll be replaced by new science
opportunities, new exploration into
space, new manufacturing for robotics,
for defense as well. Wars in the future
probably aren't going to be fought with
people getting shot in the flesh. It'll
be one set of robots against another. I
think the drone technology will advance
the manufacturing of surveillance all
that stuff against our enemies which
notably is basically China. So if you
think about how you know you debate the
data center I think it's fair to do that
what you're doing but I would be very
concerned if I were living in Taiwan
that one day my electricity just goes
out and I get invaded by basically
robotics and high precision ordinance
and that's what China wants and they
want to get there first. Now, if we
don't get there first, if we don't
develop something better than their AI
there and our ability to be predictive
on where these conflicts are going to
happen,
I think we'll be in a bad place in 20
years. And so,
>> okay, but I think it's very revealing
that I asked you about jobs in the
United States and you went immediately
to defending Taiwan in the
>> Well, we we manufacture the equipment
here, Tucker. That's where it's made.
>> But I'm Okay.
Well, actually, a lot of this is made in
China, as as I know, you know. So, um
>> that's my whole point. I don't want to
do that anymore. I want to start making
it here. I want to do advanced robotics.
>> I totally agree. But the promise of AI
and robotics is that the robots will
make the products of the future. So how
exactly does that result in American
jobs?
What are those? What are you talking
about replaced by a machine? I don't buy
that. I just don't agree with you
because it's never
>> Well, I'm not saying I don't want that
to happen. Trust me, I'm really worried
about it. Almost panicked. But I'm
trying to feel better. Okay, then please
make me feel better. Where are these
millions of new jobs? What specifically
are you talking about?
>> Well, you know, every time technology
advances, it creates new opportunities
that were not for seen prior because you
don't know the direction of new tech.
You know, think about if you and I, cuz
we were actually around in the late '
80s contemplating what new jobs would be
created
>> by the internet. And look at what's
happened. It's created millions of jobs
and advanced all kinds of technologies
and changed the way we live to the
better. And I would say to you, the same
angst we had, the same narrative that
was going on in 1992
about how the internet is going to wipe
out the economy and it's a bad thing and
it's dangerous. Of course, people loathe
change. That's the nature of how
>> you think that the United States is a
happier country than it was in 1992.
>> What divine happy? What does that mean?
>> I don't know. We How about the suicide
rate or the addiction rate or the life
expectancy?
Those are all
>> I mean, look, there's there's lots of
social issues and there always has been.
I would remind you though,
>> but they've gotten worse at exa at
exactly the period in history that the
internet was formed and then seemed to
infuse every part of our lives. So if
you were worried about the effect of the
internet in 1992 on America, looking
back from the vantage of 2026, you could
say, "Yeah, I had good reason to be
worried." Couldn't you? Or am I
imagining that
>> you you could say that it would have
some effect on society? But let me
remind you something. Um, and I'm I'm
probably the right guy to make this
comment cuz I spend a lot of time all
around the world investing all around
the world. Um, I don't care where you go
and and I feel this way and over the and
I've really learned this over the last
20 years. Um, what is the number one
export of America? It's not energy and
it's not technology. It's actually the
American dream for all its faults that
America has.
Everybody I meet in every country,
pretty well every single one would like
to figure out how they can get to
America, start a business, and be part
of the American dream. And I go to some
pretty gnarly places where people are
willing to risk their lives to go under
a river with barb wire to get in here.
So until that changes,
which I don't see ever happening, our
only my only concern is China. They're
the ones What's the America? What's the
If you could just be more precise. I
mean, born here. I love this country.
I'm not leaving. So, I'm I'm vested in
the idea of the American dream, but I'd
love to just define it more precisely
before we discuss it. What is it?
>> Okay. Um, let's make it really basic.
Let's go to Shark Tank. Those people
that trod out in front of me and have
done for almost 20 years, uh, with an
idea to solve someone's problem that
they'll get paid for. And 80% fail, but
20% make it. And it creates personal
freedom for them because it was just an
idea. I mean, I think of some of these
things. Wicked good cupcakes set two
women free for the rest of their lives.
Base paws, cat DNA testing, Anastasia, a
researcher that came up with this idea,
walked away with 105 million cash 36
months later. That's the American dream.
And I'm an ambassador for it.
>> So, it's freedom and opportunity. I
think you just said, is it fair to
someone? It's it's it's not about the
greed of money. What I've learned is
opportunity.
>> It's opportunity and and I I see it over
and over again and I'm an ambassador for
it all around the world because of the
fact that somehow magically this show
and you understand television better
than anybody. This thing is on in 54
countries around the world. I can go
anywhere and call up the leadership of
any place and have a meeting with them
because I'm just an ambassador of the
American dream. That's pretty
interesting.
>> Well, it's it's a great thing. the
American dream. If freedom and
opportunity is what the American dream
is, then you know those are things worth
dying for. Um I think
>> that's what people are doing.
>> So the question is, is AI going to bring
us freedom and opportunity? Because AI
is the big bet that the entire American
economy is making right now. And I want
it to be a good bet more than anything.
But I wonder if it's going to bring us
freedom and opportunity. So let's just
start with opportunity. The concern that
people have is that their jobs and not
just their jobs but their purpose for
being alive will be replaced by
machines.
To which you say that's not true. Great
things will happen. To which I said okay
what are those great things to which you
talked about Shark Tank. So I just want
to be a little more specific about what
the upside of AI is because then
everyone will calm down and feel happy
about your data center.
>> What is the upside?
>> Well, let's start in medicine.
Um, let's use specific cases everybody
can understand.
I was in Miami two weeks ago, um, and
went for a full body scan, the price of
which has dropped 80% in the last 3
years. So, in an hour and a half, this
machine went right through my body.
Two years ago, it would have taken 3
weeks to get the results looking for
cysts on your liver or whatever it is.
with AI
with the agent they had there right at
the scan facility.
Um 18 minutes later it delivered me a
report told me I had an infection in my
sinus that I had a cyst on my kidney
that hasn't grown since the last body
scan four years ago.
That was stunning and remarkable.
>> Yeah, it's great.
>> It is great. So that's one use case of
something very very important
>> and that's just medicine. And so if you
think about
>> all the things that this can do
including the arts and in music and and
film and everything I think the use
cases are going to be created by humans
who find ways to use the tool. I view it
and maybe you don't agree as simply a
tool. Another example because it's great
to tell people just examples. I've been
a photographer my whole life, including
a period when I was a professional
commercial photographer and a
cinematographer of the networks. I've
amassed
590,000
images during my career, half of which
are on film, not shot with a phone where
you get all the data on it and it knows
where it was shot, when it was shot, and
everything else, which is easy to index
and look for. So, call it quarter of a
million negatives.
How could I possibly catalog that as a
human? I couldn't. I don't have enough
time left before I'm dead. So, I used AI
last week with a tool to actually after
scanning all the images to go look at
them for 2 weeks. And now I'm able to
just go to this computer and say, "Find
a picture of my wife the day I met her
uh in the gym."
Boom. There it is. Now,
>> that's amazing. No, you're kind of
making my point, though, because the two
examples you gave are examples of a
machine replacing human labor and doing
a better job than any person could do.
>> Oh, Tucker, that's horrible.
>> Which is great.
>> Well, that's my point.
>> Well, I know it's your point. I know
it's your point, and I can see the
marvel of it, but it raises the
question, which won't go away, which is,
okay, now that machines do what people
do better than people did, what do
people do?
>> Okay. And what is the answer to that?
>> Let me ask you, let me let me pose a
question against that. Would you prefer
I'm giving you one of two options with
the uncertainty of both, okay? But I
want you to pick one. This will tell me
a lot about how you think.
Would you prefer in the next 5 years
that China have more compute power than
we do, even though the the use and the
outcome and jobs and everything else
we're talking about is unknown? Or would
you prefer the United States of America
and and their allies in North America
had more compute power to develop AI?
Which
>> depends whichever makes the United
States happier, freer, and more
prosperous, I guess, is the answer.
>> You know what the answer to that is?
What do you think it is?
>> I'm not sure that we know. I know that
reducing this question to a competition
between the United States and China is a
very quick way to derail people from the
core questions which revolve around
whether or not it's a good idea. So
that's always kind of a red flag for me.
China has more economic power now than
the United States. Probably has more
military power. I didn't want either of
those things to happen. I'm a little
bitter at the American business
community which allowed them to happen,
but they happened. So here we are.
There's not much I can do about it. My
focus remains,
however, on is it good for the United
States? Is it good for us? Does it make
people happy? And I don't understand
what people are going to do for a living
if machines are going to be able to do
most things that people currently do
better than people do them. Like, what
is the answer? What are And a lot of
people are honest enough to say nothing.
we're just going to the oligarchs are
going to send out checks to everybody,
the bread and the bread and circuses and
everyone's just going to kind of stay
home and be obedient.
But I don't know that that is a good
idea and I don't know.
>> I think I think you're raising a great
point. It's a wonderful debate and it's
certainly going on. But it's analogist
to the narrative that must have been
happening back when the Model T Ford
rolled off the assembly line and
everybody that had a buggy looked at it
and said, "Oh no, this is going to wipe
me out and there'll be no work for me."
that the American economy is very
resilient as it develops new sectors.
>> What happened after the Model T was
rolled out? We had two big events in the
say 40 years after that. One was the
first world war and one was the second
world war. The industrial revolution
like all technological change caused
dramatic political and social change
which resulted in the biggest
bloodletting in human history. So I'm
like it's worth thinking this stuff
through like technological change
forces.
Unfortunately, capitalism and the
freedom it provides
uh is volatile and it has lots of
periods including the Great Depression
where it taxes the people that support
it, but it's still better than the
alternative anywhere on earth it seems
200 years later. And so, you know, when
you start and looking at the American
economy and the VA it's had, it's been
unbelievable. But the system uh with all
its faults and you're raising some good
points. I I agree with you. I'm just
trying to think what's the alternative
and regarding AI and the and the
ultimate uh issue around your job issue
and I I think it it's it's fair. I'm
looking at it differently. I'm looking
at it as insurance. I would prefer even
though the future's uncertain and the
outcome, you know, and and the end is
always near to quote Jim Morrison. I
love that line in his song,
>> Roadhouse Blues.
>> Yeah. The Yeah. Yeah. Yeah. The future's
uncertain and is always near. Um, live,
you know, words I live by. But it's sort
of if you had to give me the two
alternatives, let China do this first or
us. I'll take us. And and I and I'm part
of that now. And in the controversy of
it, we started our conversation. I've
never seen a controversy like this. I've
never seen attacks like this. I know you
have, but I haven't experienced it and
I'm I'm hiring.
>> Well, I mean, if you take money from
taxpayers, you should expect them to
weigh in too and take their complaints
seriously and not just dismiss them as
>> and you're right, but but this has been
going on incentives state by state in
every sector happen. Even real estate,
>> not incentives, they're they're it's a
forced transfer of wealth from taxpayers
to people who are richer than taxpayers.
So, like, no, they're not. Of course,
they of course they have
>> you get a tax break to create 2,000
jobs. And the the taxpayer wouldn't do
it if if it wasn't the long-term
outcome.
>> The taxpayer has no choice. The taxpayer
has no choice. They could say no. That's
not what happened. Well, they tried to
say no to this data center and they got
laughed at. And then the governor,
Spencer Cox of Utah,
>> who really is a kind of living symbol of
of our ruling class,
>> um said that the state has an obligation
to do this and basically, as you were
doing, waved away concerns as
like foreign propaganda when I think
they're probably non crazy people who
live in Utah like, "Why is this good for
me?
>> Why should I pay for this?
>> It's fair. It's fair. All this is fair.
How about we forget the data center and
just talk about the power for a second
because there aren't going to be any
data centers in America unless we build
power generation. Do you have the same
visceral reaction to power generation as
you do to data centers?
>> Uh inversely I think we need more
electricity in the United States and I
think that's speaking of agents of
China. In fact, if you're looking for
agents of China, it's the people who
told you that you could live without
fossil fuels. That babies wouldn't die
without fossil fuels. Babies will die
without fossil fuel. Civilization will
collapse without fossil fuel. And that
right there is the foreign op telling us
that, you know, people are causing
global climate change. People are not
causing global climate change
substantially. We're having global
climate change as we always have, but to
blame it on natural gas is just a
flatout lie. And a lot of rich Americans
fell for that. So, no, I'm I'm strongly
for energy. I'm just very concerned
about replacing people, their purpose
for living, which is to create, with
machines. That seems like hell to me.
Literally hell. So, I'm I think it's
fair to ask like, how is this not hell?
And no one has been able to answer it.
>> Yeah. Um I I I think trying to stop
advancement of technology with the
uncertainty it brings has always been a
dilemma in capitalism and in America.
And I and that's a fair comment,
>> but how is this capitalism? If taxpayers
are paying for some of it, how is that
capitalism? That seems
>> I think that's no different than
building an apartment building downtown
in Austin. You can get incentives for
that, too. And that's just part of how
it works. You can debate that.
>> How is that how is that capitalism? How
is that free market? If politicians are
handing you other people's money to do
it, how is that capitalism? Well,
capitalism is built into the
Constitution, which I think was genius
because it couldn't have even thought
that far ahead was the idea of
competition between states. Why is there
an exodus out of New York City to Miami
where I live? Why are people leaving New
Jersey and Massachusetts and moving into
my building? Nobody in my building is
from Florida. They're all from other
states.
>> And all of these people moving. Why?
because they're they're reaching
retirement age and the the environment
in these other states is not conducive
to their lifestyle uh when they're being
>> I think you're making my point for me.
You just listed states that use a higher
percentage of taxpayer dollars for
private industry and people are leaving
those states.
>> Wait a second. New York New York is an
inefficiently run. It may be
inefficient, but the principle that you
can
>> politicians can take the public's money
and hand it to their friends in
business, that's a long-standing
practice in New York, California, and
Illinois, and relatively uncommon in
Florida. So, people are moving to the
free market state. But you're now saying
that actually the beauty of capitalism
is that politicians hand other people's
money to their friends. That doesn't
have the opposite of capitalism.
>> I'm saying the No, you're that is
incorrect. I didn't say that. I said
what makes capitalism work is
competition. And it does work and it has
worked for hundreds of years. And so the
concept, you may not like the policy of
giving incentives for manufacturers and
real estate. You may not like it and I
understand you don't. But you don't have
to do it. A state can stop doing it. And
then for a while maybe um they'll be
less competitive in terms of getting new
projects. I didn't make those rules up.
I'm I'm a football player on the field
of capitalism. I have to play by rules.
>> I get it. No, I get it. I I And I'm not
attacking you for it. I'm just wondering
again occasionally it's worth pausing
and asking are we doing the right thing
even if we've been doing it the same way
for a long time. Do you I'll ask just
one final question. I'll stop torturing
you.
Do you see how other people find it
unfair
that one of the richest people in
America, you, in league with the biggest
companies in America, Amazon, Microsoft,
etc., the ones you listed, that the
richest people in our society would be
taking money from people much poorer
than them.
That seems very unfair.
You know, Tucker, um, let I'll speak for
myself on this. I'm not motivated by
money anymore. That that is not why I
get up and work 18 hours a day. Um, I
want to build something incredible. I
want my legacy legacy for my children to
be something that they're honored by,
right?
>> I want to compete against the Chinese.
>> I don't like the Chinese government, in
case anybody has noticed that, over the
last 5 years. I don't like how they
treat their people. I don't like how
they treat me in business. I simply
don't like them. What's motivating me
now with all of this barrage, this
firestorm, which I understand you've
experienced in the past, is I want to
beat them in AI. I don't want them
controlling the most advanced models
wherever that's taking us. Cuz you bring
up great points about the unknown in
jobs and everything else. But I want to
be part of the team that makes sure our
way of life in North America remains the
same for my children. I don't give a
about money anymore. I don't need
any more money. I've already been very
successful. I'm very lucky. But I'm not
finished. I'm very motivated to win. And
if you if people want to compete with
me, I want that. If they don't think my
motivation is to beat the Chinese,
they're wrong. I am going to beat them.
I am going to show them these data
centers. They're going to be this
shining example how you do this
sustainably because I'm the only guy
that is graduated out of environmental
studies and builds data centers. No one
else on earth has done that.
>> I love the idea. I'm for America above
all. Do you think that Microsoft and
Amazon and Google
will do a good job preserving the
American way of life? Are they
substantially superior morally to the
Chinese government? Do you think that
those are your tenants?
>> Yes, I do. And in fact, I deal with
>> Tell me how tell me how is how is
Google?
>> I'll tell you why. I I I was talking
with the guy yesterday that does um is
doing is doing the buildouts all around
the world for Google's data centers.
They are on incredible sustainable
mission. They are looking at every
technology to reduce their um
need for traditional power sources. And
you know we were talking about the the
campus in uh Utah.
They have some very advanced thinking on
the use of battery, wind and solar and
so they want to do that. Why? Because
their customers want that.
>> Well, wait a second. China leads the
United States in battery, wind, and
solar in development of those
technologies.
>> Yeah, that's such a great that's it's a
great story, but not in data centers.
They don't they're powering.
>> No, but hold on. Jumping around a little
bit. I'm just trying to ask Okay, so you
say you want to preserve the American
way of life. That's why you're building
this. My question was okay well your
tenants are these big companies that are
not really American companies or
publicly traded companies that are owned
by the sovereign wealth funds of mill
tons of countries around the world in
what sense are they American companies
in what sense do they have American
values was my
>> because they're they they operate under
the laws and are headquartered in the
United States of America under the
regulations the only reason that Google
can raise as much capital as it does
from the sovereign wealth now you're
coming into my space I'm an indexer for
sovereign wealth. The only reason 52
cents of every dollar comes to America
is the transparency of our laws and the
appellet system and our banking system
and the regulator and and so that's why
you find the largest tech companies on
earth housed in America because the
regulatory environment and the actual
regulatory environment in the context of
the globe is the most advanced on earth.
So you may hate the SEC, you may not
like you know regulations, but in fact
it gives an infrastructure where most
capital comes here. That's what happens
because the outcomes why does France
have no Microsoft? Why does Germany not
have one? What what happened to you know
the European countries they they and
Britain,
you know, they don't have any of this
tech because they regulated it out of
their society. We don't want to change
that. We want the innovation here,
not the regulation necessarily. But we
>> I strongly agree except to the extent
the regulation protects the public.
>> It's a balance. That's why we trust the
government. A lot of people don't like
them. We say, "Look, at the end of the
day, you know, the great example that we
could use that you both know. I don't
think crypto is going to work until they
pass the bill about crypto. They got to
finish this infrastructure act so that
finally crypto can find its place inside
of the 11 sectors of our economy. No
one's gonna I'm not investing in crypto
until I get that freaking thing through
the house.
>> May May I ask Okay, so just to your
second point about the American dream,
there was opportunity I think you know
the ability to be judged on on your
actions, on your behavior, on your
character to be treated equally and
there was also freedom. Um, and so I
think many people have deep concerns
about AI's effect on freedom. And you
said yourself the purpose of AI is in
part surveillance.
>> Yeah.
>> What is the point? Right. So what is
that? What does that look like? I asked
what jobs does it create? Couldn't get
an answer. Now I'm going to ask you a
more specific question. Surveillance get
an answer for me because nobody knows
what jobs it's going to create yet.
>> Well, of course. But I' I've always seen
every technology that has been loathed
as it's come in always creates new jobs.
And I assume the same for this tool.
It's just a tool. So you you know the
surveillance is a great point. We have
laws regarding surveillance and we have
laws that restrict the government.
They're built into the constitution. We
have free we have free speech. All of
these things remain the same. They don't
change with AI.
>> Well, they did until last week when the
president led the charge to change the
law.
and allow warrantless spying on
Americans.
>> Yeah. In
>> Okay. Well, wait a second.
>> In direct violation of the US
Constitution. So, obviously the
Constitution doesn't matter to the
people in charge.
>> Oh, it does. Every administration is
kept in check by the Supreme Court,
including this one. And so, that's why
the founding fathers created this
structure. And I think it works. And I
trust it for one. And I'm willing to,
you know, have my kids who are Americans
grow up here and I want to protect them.
>> Okay. What what kind of surveillance? I
mean, it seems like AI will make it
possible to know what every American is
doing at all times. Correct me if I'm
wrong.
>> Um, I would say it's not AI that's going
to do that. I would say now with the
amount of highresolution video uh and
surveillance that is built into every
street corner,
that's how they solve a lot of crimes.
Now, if you don't like
>> Do they solve a lot of crimes? Has the
really has the closure rate for murders
in our big cities like what percentage
of murders are in New York City or
Chicago or Detroit are solved?
>> I don't I don't I don't track the
>> pretty low actually it's lower uh in
this country.
>> My point is surveillance is a great
issue but the enhancement of
surveillance with AI tools is how you
now walk through the Dubai airport and
you also walk through some airports here
in the US. facial recognition technology
has finally got to the resolution using
AI's tools where you
>> it's gonna run through your data center.
There'll be pictures of all of us in
your data center. Every data center,
right? So, you don't So, but how does
that make it free?
>> You don't have to you don't have to opt
into that program, by the way. I do it
for convenience. I'm not hiding
anything.
>> Well, it's on street corners, as you
said. So, it's anytime you're in public,
your face is being surveiled by
>> it is, but I'm I'm not um doing
nefarious things. I'm not a criminal and
I'm not stealing any money from anybody.
The definition of nefarious changes as
you know I mean hundreds of thousands of
American citizens were sent to
concentration camps by Franklin
Roosevelt because they were Japanese.
>> Correct.
>> So in 194 it was not a crime to be
Japanese. In 1941 it was. So it the
definition does change
>> as you know. So
>> it's true. So you you could have those
concerns. But I ask you again Tucker.
>> I do.
>> No. And I I know you do. But I ask you
again and you haven't answered my
question. Do you want the insurance
policy or not? Would you pre would you
with all of the nefarious concerns about
AI? Which outcome do you prefer as an
American for your family, would you
prefer all of us that are developing
these data centers put down our shovels
and stop while the Chinese accelerate
theirs? Would you like that?
>> Well, I see a kind of a different
question. And I see the question, do I
want to be let me answer your question
in the following way. Do I want to
become like China in order that we can
quote beat China? Not at all. The
problem with China from my perspective
is that it surveils its citizens and it
limits their ability to say what they
think and to oppose existing power.
That's why China is bad. I thought
because there are a lot of things about
China that are great, but what I don't
like about China is the totalitarian
approach it has towards its own
population.
>> I agree with you. You're making it
possible for our government to have the
same approach and our government already
does. They're surveilling us at all
times. Most Americans don't even know
they're being watched. Their license
plate readers, there are facial
recognition cameras everywhere. And the
question is why? So the crime rate can
go down? Well, it hasn't gone down. So
of course, the real reason is to make
you obedient obviously.
>> No, I I have a different vision of the
future because this crime everybody but
here now hear me out. Here's what here's
what I think is going to happen because
I'm enjoying this conversation. Let me
as we come to a close soon, but
>> here's where I think we're going to be
in 20 years. Okay,
>> I believe in 20 years and this is my
vision of what's going to occur and I
think I'm a great guy to actually do
this cuz I have a foot in both
economies. I think by the time the 20th
year I'm going to make it in 10 years.
It may not be with this administration
or the administration of Canada. The two
economies are going to emerge for one
reason
>> which economies
>> two the two econ has all the raw
resources the largest consumer under
>> and and it's crazy that we're fighting
uh on these on this stuff it's crazy it
makes no sense
>> totally agree
>> and so we should merge um these econ you
don't have to merge the countries you
merge the economies you get an EU type
situation where you allow freedom of
movement across the border and you allow
of no tariffs on all the the stuff we
need, the rare Earth Canada has, the
water, the paper, all that stuff. And
the only reason we're going to do that
is so we can take 5%
of our GDP, which will be the largest on
Earth, by around 25%. No one will be
close to us if we merge those two
together and the benefits that acrewue
for one reason, to tell the Chinese,
don't with us. That's basically
what's going to happen because they want
to with us big time and that's my
belief and I think I'm right. I think
that's what's going to happen. And AI
and and compute and all this stuff
that's a side story. We have to keep all
of our tech ahead of theirs including
data centers and everything else. But
ultimately they are our adversary on our
way of life.
>> Then can I ask our way of life? Right.
So you I would think since you disagree
with the Chinese way of life which is
pretty civilized in a lot of ways but
the one way in which it's barbaric is
that it grants its citizens no real
rights. And so I would think that you
would be very worried about aping their
system which we are now doing. Like they
have total surveillance. It's a
panopticon in China. We should create
our own. Let's take 40,000 acres in Utah
and make it possible for the government
to know where you are at all times and
what you're thinking. Listening to you
on your phone. Like we have that be
upset about You have to you you have to
choose the the less of two evils in your
scenario. And I'm telling you the the
what you should do is say I want Kevin
Olri to succeed. I want him to beat the
Chinese in compute power and then then
use the laws of the United States to
make sure that you keep that compute
power in check whichever way you want.
But to not have it available to put down
my shovel, I don't think people want me
to do that. Even the people in box
elder, the majority of them want me to
hold my shovel and start digging. And
that's basically the debate we're
having.
>> How do you know? How do you know that?
That the majority of
>> Because they voted for it unanimously
before the Chinese guys,
>> there was a referendum dispatch like all
this crap that's being spewed out.
>> Hold on. I'm Yeah. And I may have fallen
for some of it. So you correct me. There
was a referendum among citizens or did
some like county board vote? We we
actually went through the whole process
that you have to do by their laws and
were granted
three to zero. They the the
commissioners of the county said we want
>> three people voted. The people of the
county elected officials that's how you
do it.
>> How hard is it for Kevin Oolir and
Amazon and Microsoft and Google to
subvert three county commissioners in
rural Utah? They vote. They wanted They
asked us to come. They asked us to bring
$15 billion. They asked and they voted
and they it was a three to zero vote.
They they that's how you got on Google
and Kevin Oly got three county
commissioners in rural Utah on their
side. Good work. But can I just ask you
really quick like why don't you have a
referendum? Why don't you let all
citizens, all taxpayers, the ones who
are paying for your project, why don't
they get to why don't they get to pay or
vote?
Well, there listen, the the whole idea
of of expediting it was so the project
didn't go to Jacksonville, Mississippi.
That's the competition. And so the
government there said, "Okay, look,
we've done because we haven't lost we
haven't lost our um we have to go
through EPA, we have to go through air
quality, we have to go through the water
permitting, we have to go through the
land construction permitting. Nothing's
been lost there. There's there's no
there's no circumventing the process.
And that's what we're doing now. So if
if you want to block the water permit or
whatever, go ahead. I mean, if you think
that's a good idea, if there's a path to
do that, we're going to do it the way
we've been told by the law. By the way,
I'm I got to go soon. But I would love
to keep going.
Kevin, I sure appreciate it and I hope
that when my personal data comes through
your data center, you will you will
filter it.
>> Tucker, I think I think I'm going to
tell when when people ask me what was
like, I'm going to say he told me to get
my shovel out and keep digging. That's
>> I did I I very much did not say that.
Not digging for a data center. I don't
know. Build like an antibiotics factory.
That would be I'd be for that.
>> Thank you very much. Take care, my
friend. You know, you know I'm a huge
fan. I really am. I appreciate
>> I I love the you take and the
you give. I really do. All right.
>> Doesn't bother me at all. Thanks, Ailia.
>> Thank you. Take care. Ciao. Bye-bye.
Can't find what you're looking for?
Get subtitles in any language from opensubtitles.com, and translate them here.