Patrick Bet-David and Tom Ellsworth are joined by economist Richard Werner and macro analyst Luke Gromen for Thomas Massie’s Kentucky primary loss, the OpenAI vs. Anthropic fight after an OpenAI founder leaves, Meta’s 8,000 layoffs and “bullshit jobs,” Trump denying Xi–Putin reports, the Russia–Ukraine war, and a Fed warning that inflation could push rates up.
Chapters
- 0:00 Show intro.
- 0:37 Topics on the show.
- 12:32 An OpenAI founder leaves for Anthropic, and the AI safety fight.
- 21:50 David Graeber’s Bullshit Jobs and bloated companies.
- 28:38 Meta lays off 8,000 employees.
- 36:15 AI data centers in the UAE as war targets.
- 47:05 Massie’s primary loss, and money in politics.
- 1:10:09 Trump denies the Xi–Russia reports; where the Ukraine war goes.
- 1:36:30 The Fed may raise rates because of inflation; debt, Treasuries and AI unemployment.
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People
On this episode
Patrick Bet-David
Host. 0:00
Tom Ellsworth
Co-host. 0:00
Richard Werner
Guest. Economist. 0:00
Luke Gromen
Guest. Founder of FFTT, LLC. 0:00
People mentioned
Xi Jinping
Reported Putin comments. 7:24
Sam Altman
OpenAI CEO in the AI-safety fight. 14:33
David Graeber
Author of Bullshit Jobs. 21:50
Thomas Massie
Lost his Kentucky primary. 47:05
Jeb Bush
Money vs. endorsements. 50:40
Vladimir Putin
Does he regret the war? 1:12:21
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Products
Luke Gromen’s FFTT research — his macro newsletter. Official site 0:00
Bullshit Jobs by David Graeber — cited by Richard Werner. Amazon 21:50
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Places
United Arab Emirates — AI infrastructure hit in the war. 36:15
Kentucky — Massie’s primary. 47:05
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Ads
- The Vault Conference 2026 (house) (10:27) — vault2026.com · Aug 31–Sept 1 · text VAULT to 310-340-1132 for speaker updates.
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