The Rich Are Getting Screwed + The AI Industry's Dirty Secret

This week, Mike and I are getting into everything: the Iran ceasefire that isn't really a ceasefire, Alex Karp's unfiltered indictment of the entire AI business model, and why we think Trump Accounts might be the single best policy idea to come out of this administration. Plus, we're discussing whether we think a California billionaire wealth tax is a good idea. This and much more on this week's episode of All Things Markets. Michael Novogratz is the Founder and CEO of Galaxy Digital. He was formerly a Partner and President of Fortress Investment Group LLC. Mr. Novogratz served on the New York Federal Reserve’s Investment Advisory Committee on Financial Markets from 2012 to 2015. He serves as the Chairman of The Bail Project and has made criminal justice reform a focus of his family’s foundation. Learn more about Galaxy here: https://www.galaxy.com/ Follow Anthony on X: https://x.com/Scaramucci Follow Novo on X: https://x.com/novogratz Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. Learn more about SALT here: https://www.salt.org/ Pre-order my next book, All the Wrong Moves: How Three Catastrophic Decisions Led to the Rise of Trump, out on the 17th of September in the UK and the 22nd of September in the US: ⁠https://www.scaramucci.net/allthewron... 📄 Articles mentioned in this episode: https://www.wsj.com/world/trump-says-...    • Palantir CEO Alex Karp says 'something has...   https://www.theguardian.com/technolog... https://www.businessinsider.com/calif... https://www.wsj.com/personal-finance/... https://www.wsj.com/finance/investing... https://www.forbes.com/sites/ninabamb... Timestamps 0:00 Mooch and Novo are back! 0:52 What is going on in the markets? 4:02 Alex Karp's indictment of the AI business model 6:12 AI regulation coming: James Talarico, data centers, sharing AI upside with society 7:18 Is AI more like the cloud or something more dangerous? 10:05 California's billionaire wealth tax debate 15:04 Novogratz at the White House to launch Trump accounts 17:21 Trump accounts deep dive: "The best thing they've done" 20:32 Bullish or Bearish Begins 27:09 What made you smile this week?