State Fiscal Risks and Market Pressure

(0:00) Bestie intros! Nick Shirley joins the show to discuss his recent investigation on potential daycare fraud in Minnesota

(3:32) Nick's background, how he got into investigative reporting and YouTube, independence, finding this story

(16:36) Why this fraud story is resonating, why the national press initially avoided it

(30:08) Future plans, California, possible Al-Shabaab connection, how high up does Minnesota's fraud go?

(49:15) What the scale of fraud means for America, Minnesota's future, potential patronage scheme

(1:09:06) CA's wealth tax: normalizing the seizure of private property

(1:33:56) Chamath breaks down the $20B Groq-Nvidia deal

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Intro Music Credit:

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Intro Video Credit:

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Referenced in the show:

https://x.com/nickshirleyy/status/2004642794862961123

https://www.startribune.com/prosecutors-charge-5-people-in-a-minnesota-housing-fraud-scheme/601548944

https://www.nytimes.com/2025/11/29/us/fraud-minnesota-somali.html

https://www.fox9.com/news/fraud-minnesota-detailing-nearly-1-billion-schemes

https://x.com/EricLDaugh/status/2005410646603473256

https://x.com/kevinkileyca/status/2006053056660541840

https://x.com/chamath/status/2006087862492582084

https://x.com/C_3C_3/status/2005722313795440956

https://x.com/OliLondonTV/status/2005988021946999166

https://x.com/tomhennessey69/status/2005556784228909441

https://x.com/WallStreetApes/status/2005849513676923358

https://x.com/MarioNawfal/status/2005179409465299219

https://dcyf.mn.gov/programs-directory/child-care-assistance-program

https://x.com/susancrabtree/status/2006079778873565541

https://x.com/chamath/status/2005386348169953607

https://x.com/aaronburnett/status/2003874734661161064

https://newsletter.amuseonx.com/p/the-somali-patronage-system-has-taken

https://x.com/realdailywire/status/2006122428196442388

https://x.com/rightanglenews/status/2006375449404866720

https://www.auditor.ca.gov/reports/2025-601/