Yesterday, Elon Musk, who I guess is going to be in charge of the federal government, soon stated that the FTC chair, Lina Khan, quote, will be fired very soon. Now, I don't know if that's as a result of a conversation with Donald Trump [00:00:15] or if it's just his preference, as you will find out. He certainly has incredibly biased financial reasons to want her thrown out of that position. But interestingly, while I don't know what Donald Trump is going to do in this area, Donald Trump's second biggest donor, as well as his running mate JD Vance, [00:00:31] might not feel the same. JD Vance has actually spoken more positively about Lina Khan. Now, first, before we get to what Vance has said, why might Musk or other Republicans want to take Lina Khan out as head of the FTC? [00:00:47] Well, Musk was responding to a report by the GOP House Oversight Committee that is is alleging that she has abused her authority as the head of that organization. And I'm going to list the things that they say are evidence of her abusing her position. [00:01:02] And I don't know about you, but I got vibes of, like, a checklist that Sean Hannity would put as a sidebar. It's like he's saying that they're bad things, but they all sound good. So they say that Khan tried to stop too many mergers, [00:01:17] tried to litigate too many mergers instead of just taking settlements. She didn't recuse herself from the FTC's lawsuit against meta, given that prior to her term at the FTC, she had publicly stated that the FTC should oppose any merger attempts by meta. She took inspiration from and corresponded with regulatory bodies in the EU, [00:01:39] which I guess is bad. They're not even stating why that's bad. You're just supposed to assume that it's the EU? I guess it's bad. Anyway, she worked with European governments and attempted to stop non-compete agreements. By the way, the EU has been one of the few government bodies in this world [00:01:54] that has actually been successful and interested in reining in some of these big tech companies. But I guess it's bad to even know that that's happening. But anyway, it is not just a, you know, Elon Musk and others in the orbit of Trump that are getting ready, getting ready to get rid of Lina Khan. [00:02:11] Here's Reid Hoffman and Mark Cuban speaking out against the chair of the FTC. Even Reid Hoffman conceded that he's not thrilled with all parts of the Biden administration. In particular, he strongly criticized Lina Khan, the FTC chair. [00:02:30] He said that Lina Khan is, quote, waging war on American business. And he went so, so far as to say that he hopes that a President Harris would replace Lina Khan at the FTC. And specifically, according to Semafor Mark Cuban said this of Lina Khan, [00:02:48] if it were me, I wouldn't keep Khan on next year. And I know that lately Donald Trump has not been a big fan of Mark Cuban. Well, that's what Mark Cuban wants. Trump. Are you going to give him what he wants? You should probably go in the opposite direction. But anyway, as I said, JD Vance at least previously, [00:03:06] had sounded different back in February. He said A lot of my Republican colleagues look at Lina Khan and they say, well, Lina Khan is sort of engaged in some sort of fundamental evil thing. And I guess I look at Lina Khan as one of the few people in the Biden administration that I think is doing a pretty good job. [00:03:21] And I agree with him there. And here's the thing. He is on the record as having said that, he wouldn't do like an about face and totally change his position or anything. - Not JD Vance. - Yeah. So first of all, I got a note that my great amusement [00:03:39] that she's working with the Europeans. What was she supposed to do, not coordinate with our allies? Hey, what are you guys doing? What are we doing? Like, if she never talked to other countries about their regulatory agencies, [00:03:56] that would be a reason to fire her, right? But they want to celebrate ignorance. No, we shouldn't talk to anyone. Can you would believe. She talked to an Englishman and a Swiss. A Swiss. Okay, so now the main point of this story is told. [00:04:16] You all the donors agree. So Kamala Harris's donors, Reid Hoffman and Mark Cuban fire Lina Khan. She's against corporate power. Trump's donors, Elon Musk, the biggest donor. He has fire. Lina Khan, she's against corporate rule while he's pretending to be a populist. [00:04:34] You know why? He's got a t shirt on. So he must be a populist. He's the richest man in the world. He has over $200 billion and over 200 billion reasons to oppose Lina Khan. Yeah, because you know who Lina Khan is. And I love that. [00:04:50] She's the tough cop that they're all afraid of. Because, like Main Street, Wall Street needs cops. These are another word for regulation is law. Their job is to enforce the law. So when she says you are not allowed to have monopoly power [00:05:07] because when you have monopoly power, then you could jack up prices on the American people and you can get away with things that you normally couldn't. In fact, monopoly power kills off capitalism. Please read Adam Smith Wealth of Nations. [00:05:23] Please get an education. Okay, now Elon did get an education. Same place I did. And so he knows. But he's got a lot of reasons to want Lina Khan out. Because the more he swallows things up, the more power he has. [00:05:38] So the idea that Elon Musk is supporting Donald Trump because he's for the little guy. No, no, it has nothing to do with his gigantic business interests. And when Trump says he's going to give him all of government efficiency [00:05:54] and that he's going to cut $2 trillion out of the budget. Oh, look at that. One of the things he's looking to cut is the Federal Trade Commission, which would be the cops that would regulate lead him, All of a sudden they want to defund the police, Okay, [00:06:11] as long as it's the police on Wall Street. So that's. Now it's become your. And by the way, what's funny is that I don't agree with everything Lina Khan is doing. So I think she should focus on other industries more than she's focusing on the tech industry. But for me, she's now become a person we must protect. [00:06:29] And the reason is, like, if all of the corporatists say that she's their biggest danger, that means she's the one person standing in the way of them totally rooking us and and enforcing corporate rule we can't recover from. [00:06:46] So let's go. Lina khan all right. Sharon. Yeah, she's got my vote to stay as well. Elon wants absolute power, as you pointed out. That's really what he's after here. And it's just so funny to me how sensitive he and others are in corporate America [00:07:02] that the minute that you start looking under their skirts, it's. Whoa, we got to stop this at all costs. They should be investigated, followed, tracked the same way they want women to be. And our wombs. That's actually the kind of scrutiny that they need. [00:07:20] And this is also something that people need to look at and understand that these aren't fantasies. This is what's coming our way in a second Trump presidency. He is so prepared. He has all of his 1%. I don't even know if they're one percenters. [00:07:35] We got to call them, you know, 10th of a 1% or something, if that makes sense. Elon Musk and all these billionaires, they will make sure that we don't have a comeback. Yeah, yeah. I mean, look, guys, I'm worried that if he wins, they're going to rob the place blind [00:07:51] by the time we get back in four years later or anybody gets back in. There's nothing left. Because, remember, Trump added 40% of the debt in just four years. That's an astounding number on just the corporate tax cuts. He added 10% to the national debt. [00:08:07] We're all going to be paying that the interest on those loans so that rich people could get an even larger tax cut. And now they're saying we're going to gut the government of any cops on Wall Street, and we're going to give them another corporate tax cut, bigger, more, trillions more that are us and our kids have to pay for. [00:08:25] So I'll end you on this. I or I'll end on this. I won't end you on it. Don't worry. - You sound like. - Trump. Yeah. So last night, I realized what the American dream stands for. Donors rule everything around me. [00:08:42] - That was the. - Worst rap song in the late 80s. - Thanks for watching. - The Young Turks. Really appreciate it. Another way to show support is through YouTube memberships. You'll get to interact with us more. There's live chat emojis, badges. 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