Anthony “The Mooch” Scaramucci on Trump, Crypto, & Canada

**Anthony Scaramucci** (0:00)
He had a 927-page financial disclosure this week.
He's made himself several billion dollars. He's trading stocks larger than a hedge fund. He's made more money in crypto than any publicly traded cryptocurrency company. Just to tell you what he's done in the last 18 months. And so, I don't know, at some point, I think he's decided that people are numb to it. I think there's a lot of people that are really fed up with it. And if the Democrats could seize on that, they will have a tsunami come in in 2026 November and 2028

**SPEAKER_2** (0:37)
The Amber Mac Show on Canada Talks, SiriusXM 167

**Amber Mac** (0:42)
Welcome to this week's episode of The Amber Mac Show with a very special guest whom Jeff will reveal in just a minute. Plus, we'll chat about how children are adopting AI at a rate three times faster than adults. What MIT is saying about the math behind AI and productivity and the staggering amount of money President Trump made from crypto this past year.

**Jeff MacArthur** (1:05)
Speaking of Donald Trump, we're excited to share that one of his biggest critics is joining the show this week. Anthony Scaramucci is our guest today with the latest on how the US Commander-in-Chief uses and abuses social media, what to expect in the upcoming midterm elections, and what the US really thinks about Canada.
But before we get to that conversation, let's jump into this week's headlines.

**SPEAKER_2** (1:28)
Headlines.

**Jeff MacArthur** (1:30)
Well, the public pushback against AI, in combination with the extremely transactional nature of the White House under Donald Trump, has created some unusual situations. And the latest being reported by the Financial Times is that OpenAI's CEO, Sam Altman, has suggested that his company give 5% of its equity, which would currently amount to roughly 42 billion dollars, to a US sovereign wealth fund in order to, and I quote, secure good relations with the administration and address political blowback.
Altman, being the extreme altruist that we all know he is, has of course suggested that all the other American AI firms should do the same.

**Amber Mac** (2:12)
Of course he has.
Stranger still is that Altman's proposal is basically a watered down version of what Senator Bernie Sanders, a self-proclaimed democratic socialist, proposed in June. Under Sanders American AI Sovereign Wealth Fund Act, all systemically important AI companies, which would include robotics, data centers and other infrastructure as well, would be subject to a one-time 50 percent tax on their stock. With the caveat that companies that aren't exclusively AI be allowed to spin off the non-AI parts of their companies to avoid tax on those.

**Jeff MacArthur** (2:50)
So those are some strange bedfellows, Bernie Sanders and Sam Altman. And this is all happening alongside the White House actively restricting certain AI models, as well as the upcoming initial public offerings by OpenAI and Anthropic, both of whom I'm sure would really like to avoid having to discuss regulatory uncertainty that would negatively impact their company's values before they go to IPO.
But unfortunately, at least when it comes to maximizing AI stock values, and as Forbes reported recently, quote, something odd is happening in the tech world right now. The technology that was supposed to make human labor obsolete at this moment is more expensive than the humans it was meant to replace. Companies are laying off workers to fund very AI tools that cost more than the workers they just let go of. The circular logic of it would be darkly comic if tens of thousands of livelihoods weren't caught in the middle.

**Amber Mac** (3:49)
I think that is the best quote I've ever seen. It's very good.
The times that we are in right now, and it's a great read and includes the fact that Uber spent all of what it budgeted for AI coding in 2026 in just the first four months of this year, with their COO and president saying that, and I'm quoting, AI token usage didn't seem to correlate directly with useful features shipped to users, end quote, as well as Microsoft asking some of its engineers to stop using AI coding assistance because the cost is just too high to justify. So I think that's right. It's cheaper to get humans at this point. In fact, an MIT study showed that for 77% of roles, it would make more economic sense to just use humans instead of leveraging AI automation. So Jeff, I think we can take that as a score one for actual real people.

**Jeff MacArthur** (4:46)
Absolutely.
It's fascinating to see how this narrative has changed so fast and the AI guys who are trying to sell us on a bunch of things are happy to change their story along the way.