BREAKING: David @friedberg says "California is functionally bankrupt"
"People don't realize how screwed California is, & I worry that if California falls, so does the union.
"$250 billion to $1 trillion short."
"This is because for California to get rescued would be a big cost to red states, & I think it creates in the years ahead a lot of tension."
"California's functional bankruptcy is a major risk to the country. & I think we need to figure out what we can change to fix it."
How we got here:
"California has a public pension system, & that public pension system retirees have paid into it & they get some benefits out, & the amount that they're owed back out is somewhere between $250 billion - $1 trillion dollars more than has been paid in.
$250 billion to $1 trillion short.
If it was the federal government, it would be like, okay, we'll just print more money. California doesn't have the ability to print money, so California has to pay this out, and you can't restructure retirement benefits.
There is a Supreme Court case in California that said that once an employee has been offered retirement benefits, even if they're currently an employee, you can never restructure their retirement benefits.
It has to stay forever, and the state cannot declare bankruptcy. There's no way for the state to functionally declare bankruptcy. There's no law to allow it. No state has ever declared bankruptcy, and the retirement benefits sit senior to the bonds in California.
So you have to pay out the retirement benefits before you pay out all the bond holders that have loaned California the money that they use to run all their programs and services."
Hill & Valley Forum 2026 (@HillValleyForum)
David Sacks says the biggest risk of AI was described not by James Cameron in The Terminator but by George Orwell in 1984.
“I almost feel like the term ‘woke AI’ is insufficient to explain what’s going on because it somehow trivializes it.”
“What we’re really talking about is 'Orwellian AI.' We’re talking about AI that lies to you, that distorts an answer, that rewrites history in real time to serve a current political agenda of the people who are in power.”
“To me, this is the biggest risk of AI... It’s not The Terminator, it’s 1984.”
@DavidSacks
@AlecLace@elonmusk Biden opened the boarder to 10M illegals to cross. The fight is against the media and a neo marxist party. 90 days in, we're just getting started.
Victor Davis Hanson tells you the truth about why everyone is attacking Elon Musk
The Truth Exposed: “Have you noticed that the crescendo of hatred toward Elon Musk is becoming surreal?”
“We had a congresswoman from Ohio, her name was Marcy Kaptur, she recently said that she wasn't sure where Elon Musk loyalties lay because he'd only been a citizen for 22 years.
Elon Musk is a naturalized citizen.
This is very interesting because remember the left says that people who are here illegally and not citizens should gain all of the protections and rights of citizens. They should be de-facto citizens. Anybody who would question a naturalized citizen's loyalty according to the left would be xenophobic, nativist”
“This follows a whole series of personal attacks:
- We had posters in Washington, D.C. saying, Eliminate Musk
- We had a man arrested from Indiana online for promising, threatening to kill Elon Musk
- Here in California, we have Representative Garcia, he was on television and he said that Elon Musk was a D-I-C-K, and when called on it he said you had to bring weapons, i.e. against Musk, for this bar fight. Weapons
- Then we had this unhinged minister, Steve Caudle from Tennessee, he got up in his pulpit, and it was televised, and he said that Elon Musk was satanic, a devil, and sometimes you had to use violence to stop such devilry
“We have turned someone who has
- Saved the U.S. space program and will probably save two astronauts who otherwise would perish in space if it was left to the government program.
- Who reinvented the entire auto industry
- Who opened up all of social media with X
We have turned this person into a demon, a disloyal demon, a traitor, someone that we smear and we slander all day long for what?
For saying that the $36 trillion in debt and the $1.5 to $2 trillion + Joe Biden in some years had $5 and $6 trillion deficits are unsustainable?
And through a series of revenue enhancements and drastic cuts of programs that are unnecessary, we can get near a balanced budget
He takes no money. He's not confirmed as the head of a government agency, but of course there's all sorts of deputies and heads of agencies that require no confirmation, including the National Security Advisor of the United States of America.”
“I think it's time to stop this because if you continue this rhetoric, somebody as this person in Indiana or this minister in Tennessee is going to openly call for violence if they have not already against one of the most iconic Americans in our history.”
@AandGShow While the California government decided to withhold information on the battery fire in Moss Landing yesterday. What was in the "coastal fog?"
BREAKING: House Republicans have introduced legislation to defund the World Economic Forum.
The Defund Davos Act would specifically block any federal agency from providing funding to the WEF.
The U.S. has spent tens of millions on the WEF over the years, something GOP lawmakers say needs to end.