I think the easiest thing for them to get done with the doge is the naming, the shaming, the auditing, the transparency of what we're actually spending because so many of the audits that are just not completed, people don't know what's being spent. And if you show Americans a

$112,000 hammer or people with job titles not coming into the office or coming into the office one day a week, one day a month, that's going to infuriate taxpayers. And I think there's a very easy way to navigate all this, you

just create the leaderboard, and you not only shame people who are wasting our tax dollars, you celebrate the people who are heroes who start showing frugality and cost-saving. And they're going to do this with a leaderboard of the heroes and the goats. This could be the unifying

not just the Republican party, as as sax is pointing out, that I think this could unify the whole country. Is there anybody paying taxes that wants to see money wasted? That wants to see us pay people high salaries to not come to work? That

What's your take on the sequence of events here? What are easy layups that they could actually get done, and then where is the machine going to fight and try to stop this thing? I think you are highlighting something that they can do right away, which I think is very powerful, which is

just using these distribution channels that Elon has now to create a massive layer of accountability. I do think that Sunshine is a really incredible disinfectant. I think the best way that they could start, if possible, is to stop paying their vendors until you actually have some

amount of accounting to figure out, as you said, how many $600 soap dispensers are actually being bought and sold. Now, that kind of, whatever you want to call that, corruption or grift, it's not going to account for hundreds of billions or trillions of dollars, but I do think that

it is a very moral and symbolic win that says we're going, we're going to start to get much more rational, and it starts to allow the average American to actually feel like they have a little bit of control and they have a more vested interest in how the government spends

money. But I want to, I actually want to take a step back for a second, and before I talk about what Doge can do, I just want to highlight something that's been going on in California because I think it, it explains a lot in California and

I'm just going to read this that because it's incredible. The regulatory burden in Cali, as a state, from 1997 to 2015, this is when the data is available that I found, has increased by almost 50%. As of May of

2022, there are almost 61,000 individual regulations in the state of California. So, what does that mean and where does it come from? And Nick, if you can just put out the tweet, it has happened over a period of time in which the government has been the

absolute singular source of employment in the state. And we talked about this before, where this is also a problem at the federal level when you look at GDP and job growth because it looks like a lot of these jobs are actually fake, manufactured, government type jobs. So, why

Is this a problem you've seen in California? The issue that we have is that if you have a growth in the number of employees, in this case in California, all the job growth in recent memory has been state employees. What is the byproduct? Regulations go up. What is the byproduct

of that? There are actually no private sector jobs and more to the point, the private sector flees. So now let's bubble that up and look at the federal government. Nick, if you want to just show that chart that I that I sent you, what is incredible, J. Cal, is that the more

people are hired by the government, lo and behold, what do you see? The number of regulations issued by federal agencies has just continued unabated year in year out. You cannot run a country like this. So because these these accumulate, right, Congress is doing less and less of

a job, actually trying to frame how the country should work. That white space is filled in, as Freeberg said, by these federal agencies. It compounds and accumulates. This is not replacing laws. None of these regulations have expiry dates and so as a result, I think what

you probably have is an incredible restraint on the US economy. I think that the US economy could be growing at four or five percent, but the reason that it doesn't grow at 45% is in that one single chart. It is impossible to be able to live up to your

economic potential when you have this burden on your neck. So I think the real opportunity for Doge is to basically do whatever it needs to do using the law to wipe as many of these regulations off the books. We are better cutting them all to zero and then finding the ones we

really need and then repassing those, then we are going at this piecemeal, and there's some incred - there's some incredible ideas by the way that this creates. Nick, I don't know if you can find this tweet, but Doge asked what people think of the

IRS, and there was an enormous amount of activity that essentially said, give us a flat tax and wipe out the tax code, and people were very flexible in the amount of tax that they were willing to pay, but could you imagine the simplification in the tax code and the

implications of that? I was in Singapore by the way 10 days ago when I started my trip. Nick, beep out the name of the person I'm about to say, but I had a long meeting with who you know is there, and I was asking him the

complexity of dealing with taxes. He's like, "What do you mean? We don't - we pay a very simple tax system. There's no capital gains in Singapore, and so as a result, our filing requirements are de minimis, small. But as a result, people like him, meaning great entrepreneurs, can

spend all their time thinking about what to build, not how - not tax optimization exactly, or how to account for it. So could you imagine if these guys basically use Doge as a mechanism to shrink the tax code, create a flat tax, potentially? I know that that has to be

passed by Congress, I understand that. But the idea of just cutting this all the way down and then finding through that process what you actually need, I think can find America 100-200 basis points of GDP growth. It could be an economic Renaissance. I mean just to build on that.

cutting all the regulations to zero you might have thrown out some babies with the bathwater so why not put a clock on them and just say whenever this was enacted plus 5 years and then it rolls off or plus two years whatever number of

months and then you could have them rolling off every month I think a good idea but it has to I think that's a good idea but JCal I think you first have to cancel all these regulations and then say whatever we need we will reenact to

your point on a five-year shock clock that then has to be renewed in a new Congressional period And I think that that's extremely healthy well because you know what people die paradigms shift and then nobody even remembers these regulations you have to do archaeology

to figure out who created this what was the intent and you would never do that you would never live with all of these rules forever just one last comment In fairness to these government employees the one thing is that it's not their fault right meaning in the sense

that they were hired into a regime where the incentive was to regulate so that you had things to oversee and so they did their job in fact I would say they did their job incredibly well but the point is that now we need to pivot for them to do a totally different job

DOGE's Opportunity: Unleash American Growth by Cutting Regulations

Chamath Palihapitiya, Jason Calacanis, David Sacks & David Friedberg cover all things economic, tech, political, social & poker.

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All-In Podcast

Addressing Government Waste and Inefficiency

Focus on improving government transparency regarding spending.

Highlighting examples of wasteful spending to garner public outrage.

Proposing a leaderboard system to shame wasteful spending and reward frugality.

Suggesting this approach could unify public opinion across political divides.

Discussing the potential for using existing communication channels to enhance accountability.

Suggesting to halt payments to vendors until proper accounting is done.

Acknowledging that addressing all corruption won't solve all financial issues.

Emphasizing the importance of symbolic wins to restore public trust.

The Impact of Excessive Regulations in California

Presenting data on the significant increase in regulations in California since 1997.

Linking the increase in regulations to the growth of government employment.

Discussing the negative impact on private sector job growth.

Extending the observation to the federal level, showing a correlation between government hiring and increased regulations.

The Economic Burden of Excessive Regulations

Highlighting the negative impact of accumulated regulations on economic growth.

Discussing the role of federal agencies in filling the void left by Congress' inaction.

Suggesting the need to review and eliminate unnecessary regulations.

Estimating the potential economic benefits of regulatory reform.

Proposing a complete overhaul of the tax code, potentially leading to a flat tax.

Mentioning public support for tax code simplification.

Illustrating the benefits of simpler tax systems using Singapore as an example.

Discussing the potential for increased economic growth through tax simplification.

Acknowledging the need for Congressional approval for tax code changes.

Addressing Concerns and Potential Solutions

Addressing the possibility of unintended consequences from eliminating regulations.

Suggesting a time-limited approach to regulation review.

Suggesting a phased approach to regulatory reform.

Highlighting the benefits of periodic regulatory review.

Acknowledging that government employees are not solely responsible for the current regulatory burden.

DOGE's Opportunity: Unleash American Growth by Cutting Regulations

DOGE's Opportunity: Unleash American Growth by Cutting Regulations

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