RUSH TRANSCRIPT Larry all ░░░░░░░░ We re going to ░░░░░░░░ in our pal Vivek ░░░░░░░░ Strive asset management executive ░░░░░░░░ A author of the ░░░░░░░░ new book hot off ░░░░░░░░ presses called nation of ░░░░░░░░ This will be a ░░░░░░░░ interesting point Jump in ░░░░░░░░ your fund you re ░░░░░░░░ esg which is the ░░░░░░░░ s work but you ░░░░░░░░ picking on Chevron and ░░░░░░░░ spoke to some senior ░░░░░░░░ executives and they re ░░░░░░░░ your team because they ░░░░░░░░ producing and they are ░░░░░░░░ and they don t ░░░░░░░░ in net zero carbon ░░░░░░░░ and by the way ░░░░░░░░ put the real blame ░░░░░░░░ bp and shell I ░░░░░░░░ that That is fair ░░░░░░░░ guys are advertising green ░░░░░░░░ renewables like they re ░░░░░░░░ in the oil business ░░░░░░░░ Of course they are ░░░░░░░░ and shell But anyway ░░░░░░░░ us about the esg ░░░░░░░░ your Chevron experience Yeah ░░░░░░░░ As you know Larry ░░░░░░░░ is competing directly with ░░░░░░░░ the message we re ░░░░░░░░ to corporate America s ░░░░░░░░ is focus exclusively on ░░░░░░░░ great products and services ░░░░░░░░ profit and maximize value ░░░░░░░░ shareholders rather than any ░░░░░░░░ social agenda So we ░░░░░░░░ with the U S ░░░░░░░░ sector which I think ░░░░░░░░ the sector that has ░░░░░░░░ most damaged by these ░░░░░░░░ demands One of the ░░░░░░░░ I find really interesting ░░░░░░░░ of these constraints have ░░░░░░░░ imposed on them by ░░░░░░░░ share holders I wouldn ░░░░░░░░ call it so much ░░░░░░░░ was not cast instigating ░░░░░░░░ I said in the ░░░░░░░░ the goal to liberate ░░░░░░░░ from esg constraints imposed ░░░░░░░░ other shareholders One is ░░░░░░░░ three emissions cap proposal ░░░░░░░░ recommended against in 2021 ░░░░░░░░ guess what Blackrock state ░░░░░░░░ vanguard all voted in ░░░░░░░░ of it carried majority ░░░░░░░░ Guess what Chevron starts ░░░░░░░░ things for the first ░░░░░░░░ ever support for the ░░░░░░░░ climate accord agreement U ░░░░░░░░ did not ratify It ░░░░░░░░ not Chevron s job ░░░░░░░░ ratify it instead A ░░░░░░░░ tax These were responses ░░░░░░░░ to shareholder pressure I ░░░░░░░░ to bring a different ░░░░░░░░ voice to the table ░░░░░░░░ on your business Larry ░░░░░░░░ the other side I ░░░░░░░░ it they by the ░░░░░░░░ understand too By the ░░░░░░░░ quickly this esg stuff ░░░░░░░░ subordinates shareholder return to ░░░░░░░░ the woke social policies ░░░░░░░░ illegal under the current ░░░░░░░░ laws okay Absolutely Larry ░░░░░░░░ had a lengthy discussion ░░░░░░░░ the brilliant tax person ░░░░░░░░ Washington D C This ░░░░░░░░ illegal this idea of ░░░░░░░░ subordinating shareholders is actually ░░░░░░░░ if somebody would enforce ░░░░░░░░ darn law Absolutely I ░░░░░░░░ it is illegal both ░░░░░░░░ erisa is a federal ░░░░░░░░ of rules an statutes ░░░░░░░░ also under state fiduciary ░░░░░░░░ as well Larry right ░░░░░░░░ is at two levels ░░░░░░░░ this illegal At the ░░░░░░░░ of the day a ░░░░░░░░ solution market competition that ░░░░░░░░ what I m bringing ░░░░░░░░ the table Larry no ░░░░░░░░ s a noble cause ░░░░░░░░ me Let s go ░░░░░░░░ your book okay In ░░░░░░░░ New York Post this ░░░░░░░░ an op ed taken ░░░░░░░░ the book too much ░░░░░░░░ government aid is fueling ░░░░░░░░ pro lazy America Earlier ░░░░░░░░ the show I ve ░░░░░░░░ this a lot I ░░░░░░░░ I think we ve ░░░░░░░░ to restore workfare and ░░░░░░░░ requirement Yep Larry we ░░░░░░░░ to make it pay ░░░░░░░░ tax to work and ░░░░░░░░ judy shelton was making ░░░░░░░░ same point so was ░░░░░░░░ moore Pro lazy America ░░░░░░░░ us more about the ░░░░░░░░ At the end of ░░░░░░░░ day we created an ░░░░░░░░ infrastructure for people not ░░░░░░░░ work Of course we ░░░░░░░░ Other economic commentators made ░░░░░░░░ observation I want to ░░░░░░░░ deeper in the book ░░░░░░░░ is a cultural point ░░░░░░░░ last book woke inc ░░░░░░░░ they were pushing one ░░░░░░░░ political agendas At the ░░░░░░░░ of the day it ░░░░░░░░ two to tango It ░░░░░░░░ not just company up ░░░░░░░░ down That is the ░░░░░░░░ One of the things ░░░░░░░░ say victim hood fits ░░░░░░░░ like a glove What ░░░░░░░░ I mean by that ░░░░░░░░ at the leaders of ░░░░░░░░ anti work movement people ░░░░░░░░ doreen ford who last ░░░░░░░░ claimed it is not ░░░░░░░░ them being lazy they ░░░░░░░░ t want to work ░░░░░░░░ is about dismantling the ░░░░░░░░ of capitalism colonialism of ░░░░░░░░ If you give sloth ░░░░░░░░ human sloth advice moral ░░░░░░░░ even moral sanctimony that ░░░░░░░░ what gives it staying ░░░░░░░░ So it is beyond ░░░░░░░░ the incentives it is ░░░░░░░░ the culture Larry by ░░░░░░░░ way political so interesting ░░░░░░░░ Sanders has made this ░░░░░░░░ My friend this surprised ░░░░░░░░ disappointed me Robert Reich ░░░░░░░░ know he a man ░░░░░░░░ the left but wrote ░░░░░░░░ thing Biden got elected ░░░░░░░░ people let them pursue ░░░░░░░░ nature walks and art ░░░░░░░░ baseball and whatever it ░░░░░░░░ Where is this coming ░░░░░░░░ Because the basic American ░░░░░░░░ was we work hard ░░░░░░░░ our families climb the ░░░░░░░░ of opportunity okay You ░░░░░░░░ you may be the ░░░░░░░░ guy in the bidding ░░░░░░░░ then you own the ░░░░░░░░ then you own a ░░░░░░░░ building Amen Larry because ░░░░░░░░ re working 1hours a ░░░░░░░░ 18 hours a day ░░░░░░░░ Where is the break ░░░░░░░░ of work coming from ░░░░░░░░ culture of incumbency We ░░░░░░░░ as a nation of ░░░░░░░░ When become a nation ░░░░░░░░ incumbents that is when ░░░░░░░░ victim hood culture comes ░░░░░░░░ Larry tell me about ░░░░░░░░ We achieved success We ░░░░░░░░ in the largest inner ░░░░░░░░ wealth transfer in human ░░░░░░░░ from baby boomers to ░░░░░░░░ gen z When you ░░░░░░░░ on the receiving end ░░░░░░░░ creates a psychological need ░░░░░░░░ justify that You see ░░░░░░░░ describe yourself as a ░░░░░░░░ There is a lot ░░░░░░░░ causes why it takes ░░░░░░░░ whole book to write ░░░░░░░░ is an uncomfortable point ░░░░░░░░ conservatives and Republicans I ░░░░░░░░ it is worth making ░░░░░░░░ year couple years ago ░░░░░░░░ Covid stimulus I will ░░░░░░░░ sign the bill unless ░░░░░░░░ is 2 000 1600 ░░░░░░░░ was Kamala Harris Bernie ░░░░░░░░ it was also Donald ░░░░░░░░ t was also Josh ░░░░░░░░ This is a Larry ░░░░░░░░ know I know This ░░░░░░░░ trans partisan issue Larry ░░░░░░░░ mnuchin and I tried ░░░░░░░░ real that back but ░░░░░░░░ were not successful My ░░░░░░░░ is not to protect ░░░░░░░░ I want to call ░░░░░░░░ out in the book ░░░░░░░░ Vivek Ramaswamy What is ░░░░░░░░ name of the book ░░░░░░░░ the book Sell a ░░░░░░░░ of books Quote nation ░░░░░░░░ victims.”