[BidClub_]
All-In · · 54 分钟

Ro Khanna同时批评两党:移民、科技与言论自由

Chamath PalihapitiyaJason CalacanisRo Khanna

YouTube
TL;DR
  • Khanna希望围绕稀缺人才重建H-1B,而不是废除它,也不是把价格抬到初创公司无法承受。 大型外包公司通过重复申请“钻了制度空子”,部分持有人拿着低于市场水平的工资;他的两党替代方案要求支付市场工资,并将签证限定给真正具备技能的岗位。10万美元的统一费用可能吓走人才,尤其是在有报道称中国拥有全球1/3 AI人才的情况下。

  • Khanna认为,边境执法可以恢复信任,但这份政治红利应当用来推动更广泛的移民改革。 他表示,民主党必须承认Biden政府在安全保障不足的情况下允许太多人入境,而Trump则走得太远,事实上让寻求庇护变得不可能。下一笔交易应是:让长期居留、纳税且无犯罪记录的农业、食品和建筑业工人合法化,然后让技术签证持有人快速转向绿卡。

  • 民主党失去科技界,原因是文化叙事和未来叙事失守,而不只是失去了一个捐款人群。 Khanna认为Biden误判了Silicon Valley的影响力:对许多年轻黑人和拉丁裔而言,加密货币可能是他们最接近科技“亲友轮”的机会,而Trump让自己成为与创新相关的“酷 guy”。仅仅反Trump,无法重新赢回这一选民群体。

  • 美中AI竞争,较量的是中国的部署规模与美国的创意广度。 Khanna相信AI“利大于弊”,并以Xiaomi的自动化工厂为例;据称Joe Tsai提到,中国要求到2030年让95%的政府机构使用AI。但中国被引用的20%青年失业率,以及美国可以自由开发约会、喜剧和体育应用等“傻东西”的环境,可能让美国保有文化优势。

  • 政府停摆争议把宪法权力与家庭医疗成本放到了同一张谈判桌上。 Khanna认为总统不能无视国会拨款——“宪法不是这么运作的”——并表示交易所税收抵免到期后,约7000美元的账单可能升至2.1万美元。他说,医疗争议中有90%与无证居民无关。

  • 审查与法律战的循环之所以持续,是因为双方只在方便时才捍卫规范。 Khanna反对压制《New York Post》关于Hunter Biden笔记本电脑的报道,支持一名因发布跨性别歧视言论而被捕的喜剧演员,也反对向Jimmy Kimmel施压:“考验”在于保护自己不喜欢的言论。他同样反对用出于报复的起诉,替代所谓针对Trump的法律战。

  • Khanna把公共安全视为经济基础设施,而不是向右翼让步。 他的选区拥有25座最安全城市中的部分城市,以及5家万亿美元公司——Apple、Google、Nvidia、Tesla和Broadcom;他的因果判断是,如果没有安全,企业高管和家庭不会住在那里,人们也不会参与经济活动。屡犯者逃避问责“完全不可接受”,但他仍反对联邦派兵。

  • Mamdani的可负担性议程,最终要看住房交付、公共安全,以及纽约能否避免资本外流。 Khanna称他是应对美国梦流失的“一级警报”,但表示,冻结纽约市政府控制公寓的租金,必须与住房建设翻倍和可行的政商关系并存。Khanna也支持禁止国会议员交易股票;他说自己不交易,也无法控制妻子继承的信托资产。

摘要 · 为研究而整理的核心内容

1. H-1B应奖励人才、工资与长期留下

  • Khanna的判断很直接:H-1B“遭到了滥用”,大型IT外包公司熟练掌握申请流程,给部分持有人支付低于市场水平的工资,并挤出初创公司的人才。他的两党改革方案将要求支付市场工资,并设置真正具备技能的类别。

  • 主持人进一步指出了失灵机制:赢家可能是那些通过空壳公司反复申请的人,而不是由有进取心的美国雇主担保的优秀人才。Khanna反对统一收取10万美元费用,因为这“给初创公司施加了不公平的负担”,并可能让美国失去人才。

  • 在Khanna看来,国家利益豁免、O-1、EB-1和EB-5都不够。他以Sundar Pichai和Satya Nadella为例,希望让H-1B持有人快速转向绿卡,让他们获得流动性和市场化工资,同时留在美国;他警告,粗暴限制H-1B反而可能把岗位推向海外。

2. 边境管控只有在改革跟进时才能换来信任

  • Khanna表示,民主党必须承认Biden政府在安全保障不足的情况下允许太多人入境。Trump识别出了真实问题并加强了边境管控,但Khanna反对把庇护渠道事实上压缩到零:方向是必要的,手段却走得太远。

  • 他提出,应该把Trump积累的政治善意用于推动农业、食品生产和建筑业长期居留、无犯罪记录且纳税的无证工人合法化。他认为,稳定这支劳动力队伍也可能是压低食品价格的“一种方式”。

  • 留住人才,才算完成这笔交易。Khanna引用了60万名国际学生、其中包括30万名来自中国的学生这一数据,并表示,联邦支持的大学不应只是培养他们,然后把他们送回上海或北京;粗暴限制H-1B,只会把大公司的岗位推向海外。

3. 反Trump政治无法夺回未来

  • Khanna把自己描述为一名试图“公平判罚”的进步派。他称赞Trump推出的低价处方药网站,并敦促Hamas接受Trump提出的方案、释放人质并允许以色列撤军,但不接受Trump议程的其他部分。

  • 他改变后的判断很能说明问题:“我过去认为,政治中的金钱是我们最大的问题。现在,我相信仇恨和极端主义才是我们最大的问题。”注意力经济对稳健政治人物的奖励,不如对那些能带来捐款、提高基本盘支持率并持续制造冲突的挑衅者。

  • Khanna提到了Andy Beshear和Wes Moore,随后预测Mamdani、Abigail Spanberger和Mikie Sherrill会获胜。他看重的共同特征是:这些竞选强调自己的方案,而不是把Donald Trump当作组织选举的核心。

  • Khanna认为,Biden在Silicon Valley犯的错误,是把科技当成一个筹款选民群体,而不是一种文化。年轻人崇拜建设者,也在寻找数字财富;加密货币往往是他们最接近科技“亲友轮”的渠道。Trump抓住了这种诉求,把自己呈现为“未来”。

4. 经济爱国主义必须在竞争中保住美国的投入要素

  • Chamath给出了一个更底层的解释:Trump对科技业的支持,源于他把经济爱国主义描述为一种内部稳定,并借此在海外保留“几乎无限的选择权”。在白宫晚宴上,Trump让每位高管说出最大问题,并问“我能做什么?”当高管提到欧洲监管给Google带来的巨大压力时,Chamath说Trump很快施压,形成了一个释放阀。

  • Khanna接受经济爱国主义这一标签——“这一直是我的平台”——但反对关税,反对用“大锤”砸向大学和研究,也反对敌视移民。他的替代方案是为美国制定一项“Marshall计划”,把先进制造、科技、AI和医疗投资带到Youngstown、Warren、Milwaukee及其他被经济绕开的社区。

  • 在科技问题上,Khanna的基线判断是明确的:“AI将为世界带来更多好处而不是坏处”,应用场景包括疾病诊断、教育和生产。在Xiaomi位于北京的工厂,他看到机器组装手机,生产率提升的承诺因此变得具体可感。

  • 中国仍然势头强劲:据称Joe Tsai提到,中国要求到2030年让95%的政府机构运行在AI之上。Khanna用中国被引用的20%青年失业率,以及美国可以创造“傻东西”的自由来平衡这种规模优势;但他仍希望联邦政府为失业年轻人提供儿童照护、老年照护、医疗和公共服务岗位。

5. 政府停摆之争关乎支出权与医疗可及性

  • Khanna认为,第一条分歧在宪法层面:国会一旦拨款,总统就必须执行。他告诉Elon Musk,自己只会通过合法程序配合DOGE寻找合理节省;单方面削减对外援助或教育支出,意味着民主党投票支持预算将失去意义。

  • 第二条分歧是医疗。Khanna表示,交易所税收抵免到期后,部分人的支出可能从约7000美元升至2.1万美元,使许多人失去保险覆盖。如果共和党拿选举结果说事,他表示共和党可以废除阻挠议事规则,通过自己的预算。

  • 针对补贴主要惠及非法入境者的说法,Khanna表示,当前讨论的议题中“90%”与无证居民无关。他指出,紧急Medicaid会覆盖来到医院的无证患者,但强调这并不是预算中金额最大的部分。

  • 政府停摆首先会让公务人员无法领薪或延迟领薪,其中可能包括国会警察和军人。几天或几周后,机场人员配置可能导致航班减少,公园可能关闭,非紧急政府服务也会逐步恶化。

6. 言论自由与法律必须经得起党派角色互换

  • Jason强调了精神疾病和与社会脱节的施暴者;Chamath反驳说,仅用精神疾病解释问题过于简单,而Khanna表示,更广泛的人群可能被煽动或操控。Chamath举的例子是一枚子弹上写着“法西斯!抓住他”,大约10或12天后,一名知名民主党人称Stephen Miller为法西斯。

  • Khanna将损害范围扩展到刺杀、1月6日事件和袭击Pelosi住宅之外:极端言论让美国人无法识别彼此的共同立场。他借用Emanuel Cleaver的话警告:“以火攻火,最后所有人留下的都只有灰烬。”

  • 他的言论自由标准刻意跨越党派。Khanna反对Twitter压制《New York Post》关于Hunter Biden笔记本电脑的报道,认为一名喜剧演员不应因发布跨性别歧视言论而在Heathrow被捕,也反对向Jimmy Kimmel施压:“当言论是你喜欢的内容时,支持言论自由很容易。”

  • 主持人认为,Trump面临的几宗案件看起来带有“法律战色彩”,而Trump追查Comey如今也像是报复性起诉。Khanna坚持认为,1月6日事件及其他行为明显违法,但仍要求两党未来承诺遵守法律、拒绝报复;否则,“我们和任何其他国家没有区别”。

7. 安全是经济基础设施

  • Khanna表示,Fremont、Cupertino、Sunnyvale、Santa Clara和San Jose位列25座最安全城市之中,而Silicon Valley拥有5家万亿美元公司:Apple、Google、Nvidia、Tesla和Broadcom。他认为,如果没有安全,该地区不会拥有今天的经济繁荣,因为企业高管和家庭不会住在那里,人们也不会参与经济活动。

  • 进步派改革不必为连续犯罪开脱。Khanna支持起诉那些反复从Walgreens等商店盗窃1000美元以下商品的惯犯,同时承认,反对终身监禁或强制最低刑期,并不等于为反复犯罪开脱。一名被反复逮捕的罪犯仍然可以自由行动并最终杀人,“完全不可接受”。

  • Jason提议将任何国民警卫队部署转向具体热点,把Trump的干预转化为一种实际资源。Khanna同意城市必须采取行动,但反对联邦军队,认为这既违宪也不是正确方案——双方在手段上明确分歧,但都承认安全的必要性。

  • Khanna支持Daniel Lurie、Matt Mahan和Raj Salwan的做法:增加警力,为反复在街头循环的人提供法院主导的治疗,并在永久建设之外提供临时住房。引用下降的统计数据,无法抹去人们“离家不锁门”的生活记忆;要赢得公众对未来的支持,“安全第一”。

8. 可负担性政治最终要看执行与信任

  • Khanna认为,Mamdani的崛起源于明确的可负担性诉求,以及反对Netanyahu在Gaza的政策。他认为免费公交合理,因为许多乘客本来就不付费,同时承认自己在中东问题上与Mamdani存在分歧。

  • Khanna不把Mamdani称为一个只会撒钱的候选人,而称他是应对“可负担性和美国梦流失的一级警报”。治理能力才是考验:冻结纽约市政府控制公寓的租金,必须伴随住房建设翻倍;任何加税也必须避免把资本赶出纽约。

  • 主持人警告,如果Mamdani忽视安全,可能出现“Dinkins式氛围”;Khanna承认,这种失败会伤害民主党,但预计进步派会投资于务实的成功。单纯拒绝Mamdani,等于忽视了促成其支持的年轻选民与不平等问题。

  • Khanna明确支持禁止国会议员交易股票,并表示他的TRUST in Congress Act将要求每名议员都置于信托安排中。Jason提到约3万笔小额交易后,Khanna表示妻子的资产是以信托形式继承的,自己对其“没有发言权”,也“没有控制权”;他还拒绝竞选加州州长,因为“我不认为你会只是为了一个头衔去竞选”。

Jason Calacanis

Ro, how many times have you been on the pod now? Is this number 4 for you—3 or 4?

Ro Khanna

No, this is my 5th time.

Jason Calacanis

Oh, wait. Sorry. I’m not Ro. Sorry. Over to Ro. Sorry.

Chamath Palihapitiya

We all look the same.

Jason Calacanis

You’re Sri Lankan. He’s Indian. I know the difference.

Chamath Palihapitiya

We all look the same, bro. We all look the same.

Jason Calacanis

It’s like you’re saying that to the Irish guys.

Ro Khanna

That’s how I won my seat. I just had every Indian American go knock on doors and say, “I’m Ro Khanna.” They all thought the candidate came to every door.

One of my appearances—I think this is number 4—but one of them was on election night, and it was with Donald Trump Jr. I actually ran into him in the green room right before we were doing Squawk Box, and he brought up the pod interview. So there you go, bringing the sides together.

Jason Calacanis

It’s been pretty amazing how successful Indian Americans have become, and a really important topic for us to kick off with—maybe this time, on your 4th appearance—is immigration and H-1Bs. What’s your take, broadly, on what we’re seeing out of the Trump administration in trying to correct the abuse in these systems, and maybe monetize them? Do you think that’s a good strategy for correcting the abuse?

Ro Khanna

First of all, there’s definitely abuse. Second, it definitely needs to be corrected. The reality is that some of the H-1B visa holders are being paid below-market wages. Some of them are not going to super-talented individuals or to jobs that actually require a lot of skill.

I had a bipartisan bill, actually, that would have reformed it, requiring payment of a prevailing wage and making sure that the categories actually were skilled categories. I don’t love the blanket $100,000 fee. I don’t think that’s the best way to reform it, partly because it puts an unfair burden on startups and may actually hurt with talent. But if you wanted to say, “Look, there’s going to be some prevailing-wage standard and we need reforms,” I’m open to that.

Jason Calacanis

Do you think that the president is moving in the right direction by actually trying to reform the system?

Ro Khanna

Yeah, I think in terms of reforming the system, he’s moving in the right direction. I don’t agree with the specifics or the way he’s doing it. Like many things, I think sometimes he identifies the right issue and has a solution that I don’t agree with.

But the reality is that it has to be reformed. Anyone in Silicon Valley—you guys know this—it’s been abused. It’s been abused by some of the mass IT outsourcing firms that just have people coming in.

Jason Calacanis

It’s been very difficult to find some of the best young minds to work at our startups, to your point, Ro, because the system has been gamed, and the people who have perfected the application process have won the H-1Bs. I think that’s where these systems go off the rails, because it should be, as you said, the really talented young men and women who move to the United States, supported by an American company trying to do something ambitious.

It should not be because you know how to apply multiple times through multiple shell companies.

Ro Khanna

Yeah, I agree. And as you know, some of the outsourcing consulting companies—I don’t want to go through all the names, but you know what they are—like Tata Consultancy Services or Cognizant, or others, they’ve gamed the system and get a bulk of those H-1Bs. That needs to stop, and there needs to be actual talent.

But I want to make a point. I was just in China. We had gone on a bipartisan delegation there. One-third of the AI talent is in China, according to a lot of the reports. I want some of those folks to come to the United States so we can stay ahead of AI.

There are legitimate uses of the H-1B program. What we need to do is fix the program so legitimate talent can still come to Silicon Valley and around the nation.

Jason Calacanis

For that cream-skimming, do you think things like national-interest waivers, O-1 visas, EB-1s, and EB-5s are sufficient to accomplish that task, or should that be factored into the H-1B program itself?

Ro Khanna

I think there needs to be an H-1B program. I don’t think the national-interest waiver and the other programs are enough. Look at how Sundar Pichai came here, or how Satya Nadella came here, and are now leading Google and Microsoft. They studied here and then got an H-1B.

I would also make it so that you don’t stay on an H-1B indefinitely, but move toward a green card. President Trump said on your show in one of your episodes, “I’m going to make sure that we actually move folks quickly to a green card.” That seems like a win-win to me, because you’re then not exploiting an individual. You’re going to pay them the market wage, and they have the flexibility of moving. At the same time, they’re going to stay in the United States instead of going back to China or India.

By the way, if you just limit H-1Bs, a lot of the big companies have overseas headquarters. They’re going to offshore the jobs instead of bringing the jobs here.

Chamath Palihapitiya

Bro, one of the points that Jason has made really well, actually, consistently for years, is that in order to fix the immigration system, I think the first thing you have to do is rebuild trust in the immigration system.

Ro Khanna

Fair point.

Chamath Palihapitiya

One of the things that the president has done is effectively completely seal the border. I think the statistic he cited is that since January, literally, there have been no illegal immigrants at the southern border. I’m presuming it’s probably similar at the northern border as well. Can you talk about that part of the immigration spectrum and what you think the positives and negatives are of what has happened over the last 9 months?

Ro Khanna

We need a secure border. We let in too many people under the Biden administration without having proper security. I think the Democrats need to acknowledge that, own up to it, and say that we need to make sure there is a secure border.

I don’t agree with Trump in the way he’s shut down basically all asylum claims and taken it to zero. I don’t agree with that approach. But do I think we needed to do things to secure the border more? I do.

Now the question is, okay, he’s done that. I disagree with how he’s secured it, in that he’s basically made asylum impossible. But will he take some of the goodwill he’s earned in terms of trust and do things that I think can be bipartisan in terms of immigration reform?

One would be industries like agriculture, food production, and construction. For people who are here, who are paying their taxes, and who have been undocumented for a long time, give them a path to legalization. By the way, you want to see food prices come down? That would be one way to do that: give those folks a path to legalization if they’re here, have no criminal record, and have paid their taxes. I’ve seen him sometimes suggest that.

Jason Calacanis

Yeah, he came out and said it. He said, “We have to look at it,” right? He explicitly said it.

Ro Khanna

I’m a Democrat willing to work with him on that. And the second would be on this green-card thing, which he said explicitly. People are here. If they get a college degree, we’re paying for their education. We want them here.

Six hundred thousand students come here, 300,000 from China. I’m glad, by the way, that the president pushed back against his own base and said that those students should still come, because he got a hard time for saying that. They come here, study at Stanford, Berkeley, MIT, Harvard, or a state college. We’re financing their education in some way, because all these universities get federal subsidies.

Wouldn’t you want them to stay here and create jobs? You’re an investor. Wouldn’t you want them to stay here instead of going back to China and doing it in Shanghai or Beijing?

Jason Calacanis

Yeah, I think this is part of one of the reasons I love having you on the program, Ro. You take a very first-principles, logical, nonpartisan approach to this. You just gave Trump his flowers: “Good job closing the border. Good job identifying that 80% of Americans agree with that.”

I’m curious what’s going on inside the Democratic Party, where a large number of people can’t seem to give Trump any credit for this basic win and then challenge him by saying, “Hey, but this is where we have to go.” How does the Democratic Party look at you and your contemporaries when you’re a moderate, when you try to tone things down, and when you try to take a first-principles, logical approach to these issues?

How are you within your own party? Are you the skunk at the garden party just for saying that Trump actually did something right?

Ro Khanna

Well, yeah. I’m a progressive Democrat, but I’m a progressive Democrat who tries to call balls and strikes. Like I said, I don’t agree with all the policies he’s used to shut down the border. But it would be foolish to think that we didn’t have a problem at the border, that too many people weren’t coming in, or that we did enough to strengthen the border.

I think that should have been Vice President Harris's answer: what she would have done differently. She could have even said, “I learned we made a mistake. We didn't have the right approach on border security.”

Look, today I tweeted out something about how I agreed with what Trump is doing on the prescription-drug issue: he has a government website that is basically going to sell pharmaceutical drugs at a cheaper price. Now, that's a policy that, if Bernie Sanders or Joe Biden had put forward,—

Jason Calacanis

That's exactly what I was going to say. Bernie Sanders had put this out. Yeah, sorry, go—

Ro Khanna

Ahead. That we'd all be cheering. I mean, is it as far as I want? No. But it's a step in that direction. So I guess my point is, why not just say, “Okay, that's good”?

I've been very critical of the president's policies in the Middle East, and I've been critical of Biden's policies in the Middle East. But today, Trump put forth the plan that the Arab countries are saying Hamas should take. So I tweeted out that Hamas should accept this, release the hostages, and Israel should withdraw.

That's because I'm rooting for America to succeed in bringing peace to the Middle East. That doesn't mean that I adopt Donald Trump's policy. But I just think we need, as a party, to be honest about where someone is putting forth something that we may agree with and where they're not.

Now, of course, he's doing a lot of things that are unconstitutional, and he puts on antics like having J.D. in a sombrero. He's had Brendan Carr threatening to take Jimmy Kimmel off the air, and threatening universities over their speech. So there's reason for the anger, but I don't think just being anti-Trump is the way back for the Democratic Party.

Jason Calacanis

Can you just diagnose this for us? I think we've entered a phase of politics where it seems like decorum has been lost. Underneath that, is it hatred, or is it incredible competition to accumulate power and win elections? What do you believe is the root cause of why people can't call balls and strikes?

Ro Khanna

I think it's both. Unfortunately, there has been more extremism and hate in our country. People have really lost the ability to try to see the good in others and to say, “Look, we've got some humility. We may not have all the right answers, and we want to engage.”

I used to say money in politics was our biggest problem. Now I believe hate and extremism are our biggest problem in this country. You're rewarded if you do the most outlandish things because we're in an attention economy. If you pick a fight, people pay attention. So if you're sober, you're going to lose support from your own party, your own base.

But my hope—and I hope this for both parties—is that after the Trump era, and I think even Trump supporters would acknowledge that he's divisive, we can move forward. Look at what he said at Charlie Kirk's funeral, where Erika Kirk gives this beautiful statement of forgiveness and he says, “Well, I can't forgive. I hate my enemies.”

After 8 years of that, I really hope that we don't devolve into both sides just hating each other more and mimicking Trump's style of communication. I hope whoever the Republicans put forward will say, “Look, we want to go forward. It's a new generation. We've had 3 80-year-old presidents in a row in this country. We have a new generation of governors, and we're going to be aspirational and talk about positive things.” I hope the Democrats will do that.

Jason Calacanis

Who do you think those people are on the Democratic side?

Ro Khanna

I think there are folks like Andy Beshear. There are folks like Wes Moore. Whatever you think of the 3 people who are going to win in November—Mamdani, Abigail Spanberger, and Mikie Sherrill—one thing all 3 of those campaigns have in common is that they don't spend a lot of time talking about Donald Trump.

They're talking about their own vision and their own ideas about what they want to do for their city, their state, the country, and the world. That's what politics should be about. Politics should be about: Here's what my vision is. Here's my plan. Here's where I want to take the nation.

Jason, I don't agree with Ro on Medicare for All. I don't agree with him on where he thinks the tax rate should be. I don't agree with him on having the state play some role in building modern factories in Ohio, in this thing he calls economic patriotism. I'm more libertarian. I'm for deregulation. He doesn't understand how you really grow the economy.

That's what we should be talking about. Instead, everyone's trying to see how they can curse in terms of being authentic, as if that makes you intelligent. It's actually just the expression of emotion without a thought. I'm hoping that we'll have a more serious politics.

Jason Calacanis

You had a really great moment on a podcast I heard you on. I can't remember which one, but you were saying, “I wonder if comedy is the precursor now. Being funny, being witty on programs is like the precursor to running for president.”

But let's talk about how to win the technology industry back on the Democratic side. You had essentially the entire industry. You had a monopoly. Let's call it what it is: 9 out of 10, 95 out of 100 Democrats.

Chamath Palihapitiya

We even had Chamath.

Jason Calacanis

You had Chamath. You had Mark Pincus. Listen, even inside the administration: Bessent, Lutnick, Trump himself. I didn't know—

Ro Khanna

They were all Democrats. Yeah, all previous Democrats, including Trump himself.

Jason Calacanis

So, is there a road back? If we were to do a little postmortem on how the tech industry was abandoned and vilified, I know for me, as a moderate, basically up until this time, I've voted Democrat two out of three times. Now it's like 60/40-ish. The bashing of billionaires and the demonization of entrepreneurs must have been uncomfortable for you to watch.

Obviously, you see the entire digerati at the White House having dinner. You must be thinking to yourself, “My God, Biden could have done that at any time. He could have summoned everybody and said, ‘Hey, come, let's talk about your issues.’” But instead, the industry was vilified.

I don't want to spend too much time on it, but what's your diagnosis of how that happened? And then how does the Democratic Party win back technology leaders and billionaires?

Ro Khanna

I do joke that I think the tech industry has become the new aristocracy. I look at the White House: There they are—Sundar Pichai, Tim Cook, and Satya Nadella, and all the group. Then the King of England, King Charles. There they are, or something. So it's a group that obviously has a lot of stature and respect.

I guess here was my point to the Biden administration, which they either didn't agree with or ignored. I said, “You're making a mistake if you think getting Silicon Valley folks on your side is about the money,” because they would always say, “Oh, Biden's going to raise all this money. We don't need the Valley's money.”

I said, “Yeah, you're going to raise all the money.” And they did. They raised tons of money. Harris raised tons of money. I said, “That's not what it's about. It's about culture.”

I said, “There are a lot of young people in America who admire these entrepreneurs, who listen to All-In, who want to build wealth, who want to build the next generation of wealth. By the way, on crypto, why are there so many young Black and Latino folks who care about crypto? Because, frankly, it's often the closest they're going to get to a friends-and-family round in technology. We've got to expand economic opportunity so they have more options.”

There are a lot of people who want to have a part of the digital economy, who look up to entrepreneurs and innovators. You basically let Trump, this 1980s real-estate guy who was kind of passé, who was wondering whether we were going to get more reruns of The Apprentice and another act in politics, be the cool guy hanging out with all these tech folks, saying, “No, I'm the future.”

I said, “That's the worst mistake our party has made, because we've got to be the party of the future. We've got to be the party of entrepreneurship and innovation.” And you can be like me, a guy who says, “We should tax the—”

Jason Calacanis

I'll just tell you one quick story. I think it's not that.

Ro Khanna

I think it's something more basic. When we were at that dinner—

Jason Calacanis

Yeah.

Ro Khanna

He asked everybody, “What is the biggest issue that you're dealing with?” He goes around the table and asks a very basic and open-ended question.

I can say this because I think it was pretty clear what happened afterward, but one of the things that was mentioned was just the overwhelming pressure that the Europeans were putting on Google. I don't know if you remember this. The day after, beyond making some calls, what he did was put a pretty meaningful pressure campaign in place that allowed the release valve to get released, so that Google had less pressure from the European regulators and less onerous terms.

I think that's what it is, because when you sit with him, he's not selling an agenda. He mostly just asks you what's going on, and then he says, “What can I do?” I think that is a unique feature that many politicians have lost.

Chamath Palihapitiya

You said an important thing that I just want to double-click on because I would love your perspective on this. I do believe that President Trump views the world through the lens of economic patriotism. Alex Karp at an All-In Summit referred to it in the spirit of Chinese tai chi: It’s internal stability; it’s how you make sure that you have the resources so that you have effectively infinite optionality abroad.

That makes sense to me. So I’m just curious: What is the opposite of the economic patriotism that Trump offers that you’ve seen expressed in other countries? The Chinese, I think it’s very fair to say, had their own view of economic patriotism. Why is the opposite of that a better model?

Ro Khanna

Economic patriotism has been my platform. That’s why Ben Sasse says, “Watch out for this kind of guy.” I’ve been talking about and writing about economic patriotism for years. Let me talk about why it’s different from where Trump is.

I think he listens, but he’s not listening enough to people who are saying, “The tariff policy is not going to get us to economic development.” He’s not listening enough, in my view, to people who are saying that you can’t just take a sledgehammer to universities and research; that’s not going to help build the economy of this country. He’s not listening enough to people who are saying, “Don’t just have all this vetting for international students, and don’t insult immigrants coming to the United States. We do need immigrants.”

Now, I agree that he gave some of those answers in All-In, but overall, there hasn’t been the same understanding and case made for the role of immigrants in the community. What I believe is that we need a Marshall Plan for America, and I wish that we had a White House Economic Council. I did this bill with Marco Rubio that actually looks at Youngstown, Warren, Ohio, and Milwaukee, and says that, not only should we have advanced manufacturing, but we should put tech jobs there. AI is there. Health care is there.

Let’s have an economic renaissance in this country and bring the country together. To me, we should be arguing in both parties about how we do that. I have a different view on some of the policies I’ve articulated, but that should be the goal.

Chamath Palihapitiya

If you look at promoting that economic exceptionalism, there are a bunch of categories where I think the policy has diverged pretty meaningfully. Paradoxically, the most obvious example is around AI, where we’ve gone from a much more regimented, stage-gated way of seeing the world and, under President Trump and our bestie David Sacks, we’ve gone into a much more open mandate that acknowledges we’re in a very tough competition with an extremely talented Chinese competitor.

What’s your view on some of these groundbreaking areas of tech? How do we think about protection versus how do we think about proliferation?

Ro Khanna

That’s a big question. First, we start by saying I believe AI is going to do more good than bad in the world. I know that’s a simple statement, but there are many people who may not agree with that. The advances it can make in human disease and the diagnosis of human disease, in education curriculum for young people, and in production are significant.

One of the places we went to in Beijing was Xiaomi, the factory that makes these phones, and I was stunned. They have these machines that are basically putting together the phone. I mean, it’s a model of the iPhone.

Chamath Palihapitiya

To your point, we had Joseph Tsai, who is the chairman of Alibaba, at the summit. The most incredible thing that Tsai said is that, by government edict, essentially, they’ve mandated that 95% of all government institutions need to be running on AI by 2030. You and I both know that in any Western country, if such an edict or something happened, you’d kind of just say, “Let’s discount this essentially to zero. Maybe it’s PR fluff.”

Chamath Palihapitiya

But you know, I don't know, Jason, what you thought, but I was sitting there thinking the only country that can probably pull this off is the Chinese because if

Jason Calacanis

In the UAE, top down, you can mandate it.

Chamath Palihapitiya

So, to your point, Ro, we’re going to have an incredibly formidable competitor. In some ways, the infighting and the rancor just needs to get dialed down; otherwise, we’re going to miss the conditions on the field.

You’re on the verge of a shutdown. Can you walk us through the inside baseball of what’s happened over the last few days, where we are, what the sticking point is, what you think the odds are that this thing will get resolved, and what happens if there’s a shutdown? Can you just walk us through all of that?

Ro Khanna

Just 2 points on AI, though. We do need to think about job displacement and what we can do as a country. I believe the federal government has to step in, for young people in particular, to say, “Look, you can work for a few years if you can’t find a private-sector job, helping with child care, elder care, your communities, health care, and government services.” Maybe we make AI so that the DMV works better, and people start to think that government services actually are effective.

I think there has to be a lot of thought put into the displacement and being ahead of the curve. The only thing I’d say about China is, while they’re formidable, the one statistic that made me think we’ve got a lot of things right here that they haven’t is 20% youth unemployment in China. That’s because there are all these college graduates; they don’t want to work on a factory line. I tease Lutnick about screws on the iPhone or something. A lot of college graduates didn’t want to do that in China, and at the same time, not everyone is going to be making EVs.

In our country, you do a lot of what the Chinese would say are silly things, like making dating apps, comedy apps, and sports apps, and doing a lot of other things. They don’t have that, and I think that gives us a huge advantage in terms of creativity and culture if we can get the basics right.

Now, the government shutdown—the first fight is over something that I’m biased about, but I fundamentally believe is a basic principle: If Congress passes something, the president has to spend what Congress passes. It’s not discretionary. You know, Fetterman said, “Elections matter.” Well, elections to Congress matter, too, and you can’t—

Jason Calacanis

You may just want to explain to the audience, because I’m not sure all of us are up to speed on exactly the thing that’s happening.

Ro Khanna

Trump has this view that, okay, spending is too high; these agencies are wasting money. “I’m going to come in, and I’m going to make certain decisions about cutting spending that Congress may have appropriated.” He did this on foreign aid. He’s done it on some of the things with the Department of Education. We can go through other programs.

I got into an argument with Elon when he was there. I originally said, “Look, I’m open to working with DOGE if there are reasonable things that we can save, but you have to do it through a process.” They have a view. Their view is, “Well, Congress is never going to do this, so we’re just going to go there and do it.” And that’s not the way the Constitution works.

You can’t expect Democrats to say, “Okay, we’re going to give you our votes for a budget if it’s all discretionary and Trump can do whatever he wants anyway with the budget.” That’s the basic fault line.

The second argument is over health care. This is just factual: If the tax credits expire on the exchange, people who are paying about $7,000 on the exchange would go up to about $21,000. You’d basically be kicking off a ton of people from the exchanges. Democrats just can’t do that.

Now, you can say, “Well, you lost the election.” Then I have no problem getting rid of the filibuster, and the Republicans have the votes in the Senate and the House and President Trump, and they can pass the budget. But my hope is that they will realize that these tax credits are worth saving, that they’re not going to want people kicked off health care, and they’re not going to want these premiums going up high. Then that will be the deal.

Jason Calacanis

Ro, the argument on the other side—

—says that the tax credits and the health care subsidies will largely go to folks who are here illegally.

Ro Khanna

First of all, it’s a very small portion of people that we’re talking about. So 90% is not anything to do with those who are undocumented. That’s just the math, right? We can argue about the 10%.

But we have in this country something called emergency Medicaid. What does that mean? If you’re undocumented and you show up at the hospital, we will take care of you. I believe that is correct. I don’t think that if you’re undocumented and you show up to a hospital, you should be denied care.

Well, who pays for that? We have an emergency Medicaid program. And I guess if you mean that when you fund Medicaid, when you fund the Affordable Care Act, you’re saying you’re funding some of it for undocumented people who are showing up in emergency situations, then, yeah, you’re funding that. But my view is that, let’s be honest, that’s not where the big money and the budgets are. You’re talking about a small group of folks.

You can argue the cultural point about it, but don’t make that about the numbers.

Jason Calacanis

So, for the average person watching or listening, what technically happens if there’s a shutdown? What happens to their everyday lives?

Ro Khanna

Well, first of all, it’s bad for some of the public servants, right? Will the Capitol Police and police officers get paid? Will the military get paid? If they have a family member who is in government service, will they get paid? Americans and their family members may care about that, or you’re going to have people without pay.

Second, there will be some services that start getting cut, right? If you’re flying on a plane, you may not notice it for a few days, but after a few weeks, you’re saying, “Oh, there are fewer flights because we don’t have enough people showing up or staffing the airports,” and some of the parks may shut down. Things that involve the government that aren’t national security or urgent are going to get affected.

Jason Calacanis

Let’s talk a little bit about the censorship issue. This has come up multiple times. It’s a culture issue for sure, but why are both sides so obsessed with this? And how do we get this resolved between both sides?

There’s another both-sides issue, which is political speech that’s violent: “Fight like hell,” “Trump is Hitler.” The stuff that I don’t hear you saying, but that we do.

Chamath Palihapitiya

Stephen Miller is a fascist.

Jason Calacanis

Stephen Miller said it the other day. Yeah, tweeted it out.

Chamath Palihapitiya

He’s gone full Trump in terms of the trolling. I wouldn’t call it full Trump. I would just say it was really trolling each other.

Ro Khanna

Yeah. There’s a way to argue. I’ve gone back and forth with Stephen Miller, and we have exchanges. I’ve gone back and forth with Vice President Vance. Sometimes I think some of it is inane, but the point is, it’s within bounds. He’s not saying, “Deport Ro,” and I’m not using the words of Hitler or other things in talking about him.

You can have spirited debate in a way that isn’t Pollyannish, is tough, but respects certain norms—that the other person is a person of intelligence whose views you disagree with.

Jason Calacanis

Is there no leadership, though, Ro? When you’re in D.C., do people come together and say, “You know what? The people who have the most to lose here are us, so it’s in our best interest, in terms of self-preservation, for all of us to just speak in a more kind, civil way to each other”?

Because there are a large number of mentally ill people out there. I believe that's at the core of this: mentally ill people hear different things when you say “fight like hell” or “this person's Hitler,” et cetera, and they may act on it.

Chamath Palihapitiya

Can I say something? I think this is an important point, but I want to push back on that. It's too simple to sweep it under the rug as a mental illness issue. When you have somebody get assassinated where the bullet says, “Hey, fascist! Catch!” and then less than 10 or 12 days later, you have one of, if not the most visible, leaders of the Democratic Party, in all caps, screaming on X, “Stephen Miller is a fascist,” I think that's just irresponsible.

I think we can all admit that that is irresponsible. What happens is, as Ro said, the extremes have been amplified in an attention economy, but I think it's too simple to say that they have something that can just be swept under the rug. I think this is a chronic issue, and you can both-sides it.

When Trump said, “Go fight like hell,” and they went and beat police officers at the Capitol, I don't know if you were there, Ro, and what that was like, but I was—

Jason Calacanis

You were there, and it was pretty scary. That thing could have gotten out of hand. The Oath Keepers and Antifa are both radical organizations that will murder people and beat police. They're very disturbed individuals in both of these groups.

So I think you can both-sides this, and every time we see one of these crazy, extreme people, it's really the same profile. They're white men who are disconnected from reality. I don't know how a sane person drives into a church, kills people, and lights it on fire, like we saw the other day.

Ro Khanna

No, Jason, I understand. But I'm saying there's a broad group of people committing these actions who aren't just deranged. They're being incited. They're being programmed. They're being pulled into behaving in ways that, if they had other things—other attachments—they may not necessarily have done this.

Chamath Palihapitiya

I would agree with that. If there were religion and family, and they weren't shut-ins playing video games, I agree.

Jason Calacanis

Let me hear you, bro.

Ro Khanna

No, no, it's good. I feel like I'm in a therapy session with old married couples.

Jason Calacanis

Poker table. This is the whole point of the podcast: at the poker table. Here you are at the table. Go ahead. Tell us your—

Ro Khanna

Here's my view. Obviously, that kind of extreme rhetoric is leading to cases of political violence, but it's more than that, right? It's not just the Charlie Kirk assassination, January 6, or the attack on Pelosi's home. It's also making us hate each other as Americans.

It's making us incapable of coming together to say, “You know what? I agree with Donald Trump selling pharmaceutical drugs at a cheap price because that's the direction Bernie Sanders would go.” We can't do that. Why? Because we've created such anger, extremism, and tribalism in our politics.

The reality is, right now, you're rewarded for it. If you grab attention and show that you've got vengeance on the other side, your poll numbers go up within your own base. You get more contributions. We just need to speak plainly about some of the incentives.

If the election was in November of 2025—the next presidential election—I think both sides would end up nominating the side that's going to take it to the other one: “Own the libs” from the Republicans, and “fight fire with fire” with everything and “own the MAGA folks” from the Democrats.

I am hoping—I don't know if that's true—I'm hoping that people will see that this is a spiral downward, that fighting fire with fire leaves ashes for everyone. That's what Emanuel Cleaver says. We've got to find a different way of moving forward.

Jason Calacanis

By the way, even people who agree with Trump on policies—there have been a lot of presidents in our country's history: FDR, Ronald Reagan, Bill Clinton, Obama. Not all of them were divisive. There was one guy who did that, and my view is, first of all, American politics disdains a copycat. You're probably not going to be successful just mimicking him.

Secondly, why wouldn't you want this country to return to aspirational, inspirational politics, whether your choice is right? I think people are going to get burned out on it.

The other 2 issues I wanted to hear from you on are the censorship one and then the lawfare one. It was pretty clear that 6 or 7 cases brought against Trump while the Biden administration was in were reaching, right? Maybe it would be fair to say they were lawfare-esque.

Now you're having the exact same thing Trump is doing with Comey, where he's firing the U.S. attorney in that district and putting a new one in. I'm wondering how you think about the censorship wars going back and forth and then the lawfare ones, because we, as moderates—and I think moderates are the ones who are swinging these elections right now—

Chamath Palihapitiya

We're getting very tired of it.

Jason Calacanis

I am exhausted with the fact that neither side will stand down on censorship or on the lawfare. What are your thoughts?

Ro Khanna

Well, on censorship, I have a particularly strong record. When people say, “What makes you a different kind of Democrat?” I say, “Free speech.”

All these people who got outraged when Jimmy Kimmel was pulled down were often silent when Twitter was censoring the New York Post over the Hunter Biden laptop stories. As you may remember, my email leaked, where I said, “No, you shouldn't be pulling down that story, and you shouldn't be having the New York Post take that down.”

Then I got criticized from my own side, even though I'm one of the strongest defenders of trans rights. You may have disagreements over where my stance is because I said that the comedian who was arrested at Heathrow Airport for a transphobic post should not be arrested for that. I got criticized from the left.

So my point is, when I speak out and say, “Okay, Jimmy Kimmel shouldn't be pulled down, and we shouldn't be canceling speech or going after left-wing groups,” there's at least some credibility because I'm willing to say, “Look, our side is engaged in that kind of censorship as well.” It's wrong when either side does it.

I think our side would have a lot more credibility in going after Trump, even if they didn't do it back then, if we just acknowledged that we've got this speech problem on our side. It's easy to be for free speech when it's speech you like, like Kimmel. It's hard to be for free speech. The test is not whether you'll stand up for it when you like it; it's whether you'll stand up for it when you don't like it. And that's—

Jason Calacanis

Okay. Because this is—you know, I didn't like it when they did it to Trump. There did seem to be some situations where he was provocative or did some things that, on the margins, could have gotten you a ticket, let's say.

But then you have these big judgments against him that I don't think would have been brought if he wasn't running for president again, or if they didn't want him to run for president again.

And now we have the same thing happening with Comey, and they're literally picking the U.S. attorneys and firing them and putting people in who've never actually even been in front of a grand jury just to get this revenge. It's a pretty dark time, I think, on the law front. What do you think?

Ro Khanna

Yeah, look, I don't want to relitigate Trump's actions. I do think he did certain things, like January 6 and others, that were blatantly illegal and unconstitutional. But I will say this: whoever is going forward for the parties should make a firm commitment that they're going to follow the law and not engage in vengeance or retribution. And it's sad to me that we've gotten to this state.

I understand Trump feels like, okay, he won a second term. He was spared from assassination. He had everyone against him, and he's going to get the people who he feels wronged him. But it's a horrible thing for the country, and we've got to make it clear that we're going to move past this chapter—not that now Democrats are going to come in and go after everyone on their side. I mean, then we're no different from any other country.

Jason Calacanis

Jumping off tangentially from lawfare, let's talk about crime for a second. You describe yourself as a progressive Democrat. One of the themes around that is social justice reform, and you're seeing some of the implications of that: the abuse of no-bail policies, the abuses by DAs who are letting teen repeat offenders out on the street.

You're now seeing how that manifests in crime, right? Everything from this young woman from Ukraine who was brutally murdered to this young woman, the 22-year-old, who was killed as part of a home invasion. Her father gave this gripping testimony a few days ago. Where are the Democrats on this idea of keeping the streets safe and maintaining law and order through the lens of the social justice reforms you believe in as a progressive?

Ro Khanna

One of the things I say is that my district—and I don't say this to brag; I just say this to make a point—is actually one of the safest in America. When you look at Fremont, Cupertino, Sunnyvale, Santa Clara, and San Jose, they're all in the top 25 safest cities.

I say that's correlated with the fact that we have 5 trillion-dollar companies: Apple, Google, Nvidia, Tesla, and Broadcom. You wouldn't have the economic prosperity of Silicon Valley if you didn't have the safety of Silicon Valley, because you wouldn't have executives living there, you wouldn't have families living there, and you wouldn't have people wanting to participate in the economy. Safety is essential if you believe in creating economic opportunity and economic mobility.

I think that there is a group of pragmatic mayors now: Daniel Lurie, I would say, in San Francisco; Matt Mahan in San Jose; and Raj Salwan in Fremont, who recognize that the pendulum had swung too far. I supported that ballot initiative that was on the ballot last election that said, if you're committing multiple crimes of smashing into Walgreens, then you're going to be charged. You can't just say, "Okay, yeah, you can keep smashing into Walgreens, taking under $1,000, and it's okay."

I don't view that as being not progressive. I thought the whole point of progressives is that you believe in the rule of law. Now, if you say you shouldn't lock someone up for the rest of their life, or that mandatory minimums are wrong, fine. But that doesn't mean you excuse behavior that is—

Jason Calacanis

How does a 14-time felon never end up being held accountable, then end up on the streets and just savagely murder somebody? It's totally unacceptable. I mean—

Ro Khanna

It's totally unacceptable.

Jason Calacanis

Totally unacceptable.

Ro Khanna

It happened with that Ukrainian girl. I don't remember all the details, but I think it happened with that Ukrainian girl. It happened with this Indian American who was beheaded in Texas, where the person had all these arrests.

The interesting thing is, I spoke out about those, and I didn't get that much pushback from a liberal base. So what I don't understand is where the pressure is coming from in just saying, look, we've got to use common sense in this country.

Now, I don't think the answer is to put federal troops in, like Trump is. But what the Democrats should realize, in my view, is this: Why is the country letting him do that, which I don't think is constitutional or the right solution? Because they're so frustrated with what's going on, and just citing statistics, going out there and saying, "Well, the statistics are down"—

Jason Calacanis

Yeah. This doesn't match people's reality. People are smart, and I think this is a really stupid strategy by the Democrats.

If Trump says, "I'm going to send in the National Guard because you guys haven't done the job," the obvious kung fu move is to redirect that energy and say, "Yes, here are the 5 places—these are hot spots where we need those troops. If you can put these troops on these 5 corners, on Turk Street, on 6th Street, that's where we need them. How long can we get them for before you move them to the next hot spots?"

That would totally take away what is an obvious play by the Republican Party to make the Democrats fall for the trap of, "We're pro-crime, we don't care about people's safety," which, by the way, is just so dumb.

Chamath Palihapitiya

It's so dumb. Why are Democrats in these specific cities—Los Angeles, New York, Chicago, and San Francisco—so dumb?

Ro Khanna

Well, these are hard cities to govern. I mean, it's not—

Chamath Palihapitiya

Dumb. They're not hard. I'm always honest: I disagree with you on the National Guard coming there, but I do agree—

Ro Khanna

I disagree—I agree with you, by the way, that it's not constitutional. But in a situation where people are suffering day in and day out, what happened in Washington, D.C., when they brought in the National Guard, we should have, Jason. I think everybody said, "I love—"

Chamath Palihapitiya

Jason, I think this comes down to leadership. When you look at these big cities, there are examples of when they have been governed well, and it takes a point of view and the balls to just say, "This is how it's going to be." The last best example of this is Mike Bloomberg in New York. Yes.

Jason Calacanis

I remember the first thing Mike did was he said, "Soda out." The second thing he did: smoking, done.

Chamath Palihapitiya

It completely changed the way the world works. If you guys remember, you used to go to bars everywhere.

Jason Calacanis

Yeah.

Jason Calacanis

And you would smoke incessantly, and even if you didn't smoke, you were subject to all this disgusting secondhand smoke.

Chamath Palihapitiya

But when Mike did that one thing, it cascaded throughout the world.

Jason Calacanis

It takes leadership. Bratton did CompStat under Giuliani. But anyway, Ro, explain to us what the right solution here is.

Ro Khanna

Well, I think Bloomberg had a good record. Look at what Matt Mahan and Daniel Lurie are doing closer to home. They're saying, "Look, we need more police. We need to understand that if people have mental health issues and they're not getting off the street again and again and again, you can go to a court and say that they need treatment."

We need to be funding more temporary housing, not just permanent housing, because, yeah, we want permanent housing long-term, but that doesn't mean in the meantime we do nothing. I think they're pragmatic. They've acknowledged it's a problem, and they're working at it.

What I don't think works is just denying people's feelings, because when I was growing up in Bucks County, Pennsylvania, we used to leave our house doors unlocked. That's the lived memory of a lot of people.

The problem with denying it is that if you embrace Trump's whole thing—that life used to be simpler in the 1960s, you could leave your doors unlocked, you had a good job, you worked in a manufacturing plant, and you supported your family—you don't want to move backward, because there's a lot of social progress we've made. There's a lot of great parts to our diversity and people from around the planet being here. We've got to make sure that everyone buys into the future, and safety is first in that.

Jason Calacanis

Stay on this local theme for a second. Tell us about Mamdani. What is he? You know, it's—

Chamath Palihapitiya

It's $10 billion for bodegas. It's billions of dollars for this, it's billions of dollars for that. I think I heard recently he wants to charge a 2% tax on people above a certain salary. He wants to charge any company that does business in New York City an extra tax. What? What is—

Jason Calacanis

Yeah. And how does he come out of nowhere and just run the table on the establishment?

Ro Khanna

Well, I'll tell you why. I've campaigned for 3 candidates in the November elections: Abigail Spanberger, who's going to win in Virginia; Mikie Sherrill; and I've supported Mamdani because of the moment he's had.

I think Mamdani's success was based on 2 things. 1, the recognition that New York City was unaffordable and just speaking about that unaffordability. There are certain things which are pretty practical, like most people don't pay for the buses anyway. They're on the buses without paying the ticket, and if he wants to make the buses free, that's a reasonable policy.

But he was basically saying, look, you can't afford to live in New York.

And none of the other candidates really spoke about that. They were speaking about crime and public safety, and they weren't talking about the economy. The other thing is—and I have differences with him on the Middle East. I'm for a two-state solution. I've condemned “globalize the intifada,” but he was saying, “Look, there are too many people being killed in Gaza, and Netanyahu's policies are wrong.” And that resonated with people in New York City.

So the challenge for our party is: How do we recognize the—

Jason Calacanis

Is he the candidate of giveaways, or is he the candidate of where we realistically need to be in order to have stability?

Ro Khanna

I think he's a candidate who is sounding the five-alarm fire on affordability and the loss of the American dream. How he governs is, I think, going to be a challenge, and I hope that he's a very talented guy. I hope he says, “Okay, look, I'm going to sit down, as I am with business leaders and other leaders, and say, ‘Help me achieve my goals.’”

I want to have a rent freeze on the apartments that are controlled by New York, but I also want to make sure we're doubling housing construction and building new housing. How do we do that? I want to make sure that if I am increasing taxes, there's not capital flight from New York City. What happens if, after winning, he's a complete, utter disaster in how he runs that city? What does that do to the Democratic Party?

Jason Calacanis

I don't think he will be, but that would hurt us, right? I don't think he can have a record that's a failure. I think, in fact, a lot of the progressives are invested in him succeeding and making sure that he has a pragmatic success record. But look, I think people who just want to say, “Well, we should just reject Mamdani,” aren't understanding the amount of people that he speaks for in the Democratic Party who feel like we need to tackle economic inequality. He speaks to young people.

Ro Khanna

He's clearly hit a note on those issues. Then the question is, can he execute? I remember when Dinkins came into office. That was when we bottomed out in New York. I was a teenager. Then we got Giuliani and Bloomberg back to back, and we cleaned up the city. I get Dinkins vibes if he doesn't actually take on the safety issue in addition to these other issues.

Man, Ro, as we wrap, just one last question: There's a movement afoot to ban stock trading by people in Congress, and you've been supportive of that. I think we saw something recently that said—I don't even know if you know this—but somebody who manages your money has traded 30,000 times, or something, some number. Do you want to just address what that is and where you stand on banning stock trading, and whether it's simpler to move everybody to ETFs and just call it a day?

I am totally for a stock-trading ban. I've led on that. I don't trade stocks. My wife's money was inherited in trusts that I have no say over and no control over, and it's in a trust. The TRUST in Congress Act would require every person, actually, to be in a trust, and that eliminates conflict. So I've been very consistent about it, and I've been one of the leaders on a ban on stocks.

Jason Calacanis

So what do you got? What tip? Any tips for us?

Ro Khanna

No, but did you know that somebody related to you is trading 30,000 times a year?

Jason Calacanis

I have no idea. It's like a Citadel inside of Ro Khanna. I don't know if you know this, but it's—

Ro Khanna

It has nothing to do with me, right? It's not my money. I mean, I have no involvement in it.

Jason Calacanis

It's tiny amounts, too. That's really interesting. Small trades, lots of small trades. Anyway, whoever's working for you seems to be doing a good job for you.

Ro Khanna

No, not for me.

Jason Calacanis

Working for the family. Listen, Ro Khanna—voice of reason, moderate, honest, and I'm just really excited for you to run for president. Bro, last question—actually, last question. There's still a pretty open field for California governor. Have you thought about it, and if not, why not?

Ro Khanna

No. A lot of it is that I think you've got to really have spent some time in Sacramento to deal with those issues. A lot of my issues have been: How do we build economic prosperity in parts of the country that have been left out? How do we deal with our competitiveness with China and other nations? I'm on the China Select Committee. I'm on the House Armed Services Committee. I've been focused on economic patriotism.

I don't think you just run for a title. The type of person who should run is one who's going to focus on getting our utility costs down in California, who's going to focus on making our streets safer, who's going to focus on building more housing and being a YIMBY and saying that we need to do these things. I think there will be good candidates emerging with those skills in California.

Jason Calacanis

Ro, thank you.

Ro Khanna

Thank you. Thanks, Jason. Great to have you.

Jason Calacanis

Thank you, sir.