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On Trump's greatest legacy, he broke the Democratic Party and he exposed it for what it was. It was a bicoastal elite party with a bunch of billionaires who spend lavishly and a bunch of subsidized poor and a professional class that feels frustrated. They make $200,000 and $300,000 a year, but they live in these blue cities that are very expensive and they can't buy their beautiful home. That's what the Mondami constituency is, frustrated young white professionals. And then they've lost the working class. It's not just the...they have lost the muscular classes, Hispanic muscular classes, black males, white. As I said before, if you look at 2016, '20 and '24, Donald Trump's white vote, it's pretty constant and he did not win the popular vote in 2016 or 2020 and yet he did win the popular vote and the electoral college in 2024 with the same percentage and actual numbers of white voters. So what happened? He picked up some women, he picked up some young people and he got 55% of Hispanic males and he got about 25% of black males and he picked up another 10% to 15% of Asian male. And how could that be if he was supposed to be a racist according to the Democrats? It happened because they don't like...it's not that they, they're just people. They don't want to be talked to. Nobody wants to be talked to and basically this is a caricature, but the democratic attitude toward a black truck driver or a Mexican American electrician was something like this. Now, you don't know what's good for you, but those 10,000 people crossing the border every year that we're going to...every day and the two to three million people that cross every year illegally in the Rio Grande Valley, they're going to be good for you. I don't care what you say about your schools being swamped, crime going up, they're good for you. Remember that. Men have a right to transition and they are now women and they're going to compete in your daughter's sports and you don't know what's good for you because you're too ignorant. But I will represent you. I'm a black woman with a PhD. I'm a Hispanic woman that's your congresswoman. I am your white liberal Chuck Schumer and Nancy Pelosi and I will tell you what is good for you. Got it? You know what, you don't understand that gas at 550 a gallon is really good for you because the planet is heating up and the new Green Deal is going to save you. Get some solar panels and get on the team. So they talked down sanctimoniously and that was never clear when Barack Obama confronted those black democratic activists, young men, and said basically, "You don't know what you're doing. You think Donald Trump's good or something? You've got to get out there and support Harris. You're suffering basically from Marxist false consciousness and I, as an elite, know what's good for you and I will tell you, now go do it." That's what he basically said to them. For me, the locus classicus, the epitome of this is Pete Buttigieg. Everything about him represents what I just said. Sanctimonious, self-righteous, talk down, I know the answers, I know what's good for you. I am the transportation secretary. I don't think California is suffering from not enough freeways or it's too crowded. It's suffering from racist legacies of clover leaves and I'm going to make non-racist clovers. Nobody wants that and that's what the Democratic Party, it's a Karen Scold.

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Bill, I'm just, you know, you're an alumnus. What would, what should Harvard do where you'd say, okay, to get back in your good graces, what does the university need to do at this point? - Sure, so the right thing to do, or I should say the wrong thing to do is receive a letter from the administration and write back saying, we're doing nothing. In fact, we're gonna sue you. Okay, that's what Harvard did. What Harvard should have done, it should have said, you know, President Trump, you make some good points, right? You know, taxpayer money coming to Harvard, that's a privilege, it's not a right. And, you know, taxpayer money, you know, going to an institution, the institution cannot have massive amounts of administrative bloat, waste, bureaucracy, and we're gonna eliminate it. We're gonna hire Alex Partners, a restructuring firm. We're gonna take a 3G, a zero-based budgeting approach to the way we run our, you know, administration. Things that are not, inefficiency is causing harm, and we're wasting taxpayer money. Mr. President, you're right. Harvard has become, you know, there is not viewpoint diversity at Harvard. Students are self-censoring their remarks in classrooms. Faculty are doing the same, 'cause people are afraid to have real conversations. You can't learn, you go to college to be exposed to a broad array of ideas. And I guess maybe I should be looking at Joe. A broad array of ideas. And you're not, that's not happening at Harvard. You know, free speech is not happening at Harvard. So you acknowledge the areas where the president is absolutely correct, and you say, look, we're gonna fix those areas, okay? We wanna make a deal, Mr. President. What have we seen from Trump? He asked for the moon, kind of shock and all, okay? Same thing true for Harvard, the most recent letter. No, you could argue it's certainly overreaching in some of the elements, but he wants to make a deal. Make a deal with the president. Commit to fix these things, which, by the way, your alumni want you to fix. It's in the best interest of Harvard. And treat shareholder and taxpayer money like as a fiduciary, and they're not doing that. And, you know, Harvard is not in a good financial position. This is something I think is not well appreciated. They nominally have a $53 billion down. I don't believe the carrying values of their endowment. 80% of the assets are invested in real estate, private equity, and venture capital. - So it's not liquid? - It's not liquid. And they're apparently selling us a billion dollar slice of their private equity. Watch where that gets priced relative to the carrying value of the portfolio. My guess is it could be 30, 40% below the current carrying value to get a bid. In my business, if I owned a slice of something, I sold a piece of it at a 30, 40% discount, I'd have to remark my entire portfolio. So one, the endowment, in my view, is massively overstated in terms of what it's really worth. The second thing is no one talks about the fact that Harvard now has $8 billion of debt. I read the prospectus for the recent bond issue. So you have 53 billion overstated assets that are liquid, and you have $7.9 billion of debt, which you owe, as a donor. Do you want to give money to a nonprofit institution, which is going to go into the institution, going to go out the door to pay money, interest to bond holders? My experience is nonprofits that borrow money, it doesn't end well. And then you have, what do they rely on for current funding? Money every year from the US government, money every year from donations. Donations, I don't know. I have to believe they're down meaningfully. And tax-exempt status. Another reason it induces people to give money to their university is they get a tax deduction. - They're unfair to try to take the tax-exempt status away. - I think it's fair, again. Harvard became, over time, a political advocacy organization for one party. When a university goes from being a university to affecting, becoming a political advocacy organization, it doesn't deserve a nonprofit status. And they have to, Harvard should be a place where students go to learn and the best research gets done. It shouldn't be a place that is allowing pro-terrorist organizations on campus that only allows certain kinds of thinking and speech on campus. That's a political advocacy organization, it's not a university. So I don't think we're gonna end up there where Harvard loses its tax-exempt status. I want Harvard to succeed. It's been very important to me over time. But really, it got itself to a very bad place and Alan Garber is a good president, but he's not managing. The mismanagement here is Penny Pritzker, if this were any other kind of corporation, the notion that she's still chairman of Harvard leading the charge here, in terms of how Harvard managed everything from COVID, I know we have to go, but it's an important topic, to endowment management, to waste, to free speech, to who they hired as president of the university. It's time for a change in leadership and the board at Harvard.

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Larry, I can tell you that there are 50, 60, maybe almost 70 countries now who have approached us so it's going to be a busy April, May, maybe into June and Japan is a very important military ally, they're a very important economic ally and the U.S. has a lot of history with them so I would expect that Japan's going to get priority just because they came forward very quickly but it's going to be very busy and if President Trump again gave himself maximum negotiating leverage and just when he achieved the maximum leverage he's willing to start talking.

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What we're not talking about is oil was $76, now $65. Gasoline prices are going to plummet. Any other time, that would be the number one story. In fact, if you go to the polls, what will get you elected as president? Much cheaper gasoline or Wall Street crying. I'm just being honest about it, right? So yeah, people have these stocks in their 401(k)s, and guess what? We've been through it. There's a correction on average every year. There's a bear market every couple years. I think most people are accustomed to that,

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What does the president want? He wants to worry about major things for national security of America. Steel and aluminum tariffs, that's today, right? Autos coming April 2nd. Semiconductors, pharmaceuticals, things that America must have. So you can imagine these are the kind of tariffs we're gonna make sure these things come back to America and are built in America. And then on April 2nd, he does his reciprocal tariffs, which basically say to all the countries in the world, come on, you treat us a certain way. We'll treat you the same way. Let's make it fair. You want 'em high, they'll be high like they are now. You want 'em low, they'll be low, but let's treat each other fairly. And that's where we're going. Pretty basic, pretty straightforward.

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Of the seven swing states right now, President Trump, Charlie, is ahead in every single swing state, every single one. Vibrizio is one of the best pollsters in America. Trump's a plus three in Arizona, plus five in Georgia, plus three in Nevada, and then he's plus one in Michigan, North Carolina, Pennsylvania, and Wisconsin. Now, you know, they're polls, they're not votes, just the snapshots in time, but two or three or four weeks ago, Charlie heard, that would not have been the case. So the Kamala buzz is gone, I think, and it looks like Trump is taking command of the race. What do you think? Yeah, no, I agree with you and I, like you, I take all of the polls with a grain of salt. I think what's actually sort of more interesting to look at right at the moment is the change in tactics by the Harris campaign. They are now trying to put her out to do interviews, which they have assiduously avoided, and we now, of course, know why they so assiduously avoided putting her out to do interviews because there are catastrophes for her. She's terrible at it, even when she's doing something with 60 Minutes with CBS, very, very, very a fawning and favorable crew of reporters asking her questions that are really very basic questions. She fumbles through it and it's a disaster and they have to clean everything up. And so I think that to me, I'm starting, I always look at campaigns and I always look at what are they doing, and when a campaign smells the way they smell, I just smell sort of death on them. They're getting desperate, they're trying stuff, and it's not working. Well, I think one of the reasons for Trump's improvement polls is exactly what you described, all these little one-on-one or having beer with goofball late night MCs, which is the nicest thing I guess I can say about that. You're doing a sex podcast? No, on a sex podcast, I was hoping you wouldn't remember.

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