This week, the cousins speed-run chaos: Houthis hitting Israel, Trump cutting side deals, and Jordan taking heat for not hosting enough sick kids from Gaza. Marko argues that the U.S. is done playing global babysitter, and that might actually be stabilizing. They dig into Israel’s delusions of American loyalty, Burkina Faso’s TikTok dictatorship, and Marko's new theory: “geopolitical tightening.” Jacob’s worried about nukes and future AI plagues, but Marko says multipolarity forces adults to act like, well, adults. Oh, and if President Traoré of Burkina Faso is listening: We accept consulting fees in gold or viral video cameos.
Timestamps:
(00:00) - Introduction and Overview
(01:16) - Middle East Tensions: King Abdullah, Houthis, and Trump
(06:39) - Israel's Strategic Challenges
(11:56) - Jordan's Geopolitical Balancing Act
(22:30) - Burkina Faso's Social Media Strategy
(29:13) - The President's Social Media Strategy
(30:38) - Geopolitical Challenges in Burkina Faso
(31:29) - The Role of Gold in Global Politics
(34:10) - Global Perception of US Tariffs
(36:20) - Hegemonic Stability and Global Order
(44:35) - The Impact of Nuclear Weapons on Global Conflict
(54:08) - China's Potential as a Global Hegemon
(56:34) - Conclusion and Final Thoughts
Hello Geopolitical cousin Land.
Jacob Smulian:It is producer Jacob, Marco and Jacob Shapiro.
Jacob Smulian:Only have time for a short pod today, and so they squeeze in
Jacob Smulian:some hot takes on the Middle East.
Jacob Smulian:They talk about Burkina Faso's social media presence.
Jacob Smulian:And then take a deep dive into Marco's new concept of geopolitical tightening.
Jacob Smulian:And then try to figure out if multipolarity is a good thing or
Jacob Smulian:a bad thing for global stability.
Jacob Smulian:That's it.
Jacob Smulian:Let's get into it.
Jacob Shapiro:All right, listeners, uh, Marco and I usually have the luxury of
Jacob Shapiro:relaxing for a two hour conversation, but we've got, we've got a tight
Jacob Shapiro:57 minutes 'cause I've gotta run.
Jacob Shapiro:So we are gonna absolutely blow your minds.
Jacob Shapiro:There's no time for foreplay, there's no time for jokes, there's
Jacob Shapiro:no time for basketball, even though the Knicks are up two oh oh my God.
Jacob Shapiro:We, we've gotta get straight into it.
Jacob Shapiro:I will integrate Jason Tatum metaphors throughout this though.
Jacob Shapiro:'cause you might remember Marco last year on a podcast with you.
Jacob Shapiro:I said there was no chance that Jason Tatum.
Jacob Shapiro:Was good enough to lead a team to the NBA championship.
Jacob Shapiro:I think in retrospect, that was the correct call.
Jacob Shapiro:It was just everybody else was so shitty.
Jacob Shapiro:Anyway, we're not supposed to do that.
Jacob Shapiro:So anyway, why don't we start here.
Jacob Shapiro:Um, there's been a lot of weird stuff in the Middle East the past couple of days.
Jacob Shapiro:Um, I. Kind of started with actually something you sent me with RFK Junior
Jacob Shapiro:and Nancy Pelosi, both raging at King Abdullah the second of Jordan.
Jacob Shapiro:Also, star Trek's most famous Extra, made an appearance in
Jacob Shapiro:the Star Trek Voyager for you.
Jacob Shapiro:Star Trek nerds out there.
Jacob Shapiro:And apparently the, the issue is that King Abdullah said that he would
Jacob Shapiro:accept 2000 till children from Gaza who had cancer and other illnesses.
Jacob Shapiro:Um, he's only taken in 44 now.
Jacob Shapiro:He's slow playing it.
Jacob Shapiro:And Jordan says that the king is slow playing it because he is not sure
Jacob Shapiro:they're gonna be able to return to Gaza.
Jacob Shapiro:I don't know who would wanna return to Gaza.
Jacob Shapiro:There's nothing left of it, but we can get into that later.
Jacob Shapiro:And Kennedy and Pelosi are taking this as a personal affront and a betrayal.
Jacob Shapiro:We can get into that, um, later.
Jacob Shapiro:Then earlier this week.
Jacob Shapiro:The Houthis struck Israel with a missile.
Jacob Shapiro:Um, this was not your garden variety missile.
Jacob Shapiro:It got past missile defense.
Jacob Shapiro:It made a huge crater near the Tel Aviv airport, shut down flights
Jacob Shapiro:in and out of Israel for a while.
Jacob Shapiro:So it got the Israeli's attention.
Jacob Shapiro:Israel went back and hit them.
Jacob Shapiro:In the meantime, uh, apparently Donald Trump had a call.
Jacob Shapiro:With the Houthis and agreed that the United States would stop bombing them
Jacob Shapiro:as long as the Houthis stopped bombing shipping to which the Houthis, and I
Jacob Shapiro:mean, we're, we're, we have to take this, you know, at face value from the source.
Jacob Shapiro:But according to Mr.
Jacob Shapiro:Trump, the Houthis said, cool, we're just gonna keep bombing Israel.
Jacob Shapiro:And Trump was cool with that.
Jacob Shapiro:Uh, there was no objection from the United States that the Houthis
Jacob Shapiro:were gonna keep on with Israel as long as they stopped bombing ships.
Jacob Shapiro:Um, I, some of the quotes here about the Houthis are also incredible.
Jacob Shapiro:Trump's saying that he had a good outcome, they had a great capacity,
Jacob Shapiro:withstand punishment, uh, quote.
Jacob Shapiro:You could say there's a lot of bravery there.
Jacob Shapiro:It's amazing what they took.
Jacob Shapiro:End quote, um, Israeli Prime Minister of Benjamin Netanyahu has come out and said,
Jacob Shapiro:fine, the Israelis will defend themselves alone against the Houthis, if they must,
Jacob Shapiro:if the United States is not on their side.
Jacob Shapiro:Um, and then amidst all of this, Israel also in the last week
Jacob Shapiro:or two, has been talking about.
Jacob Shapiro:Basically just annexing the Gaza Strip.
Jacob Shapiro:There have also been rumors and various reports that the United States has
Jacob Shapiro:agreed to administer the region on a temporary basis until the Israelis
Jacob Shapiro:or some other group of countries or whatever else can take it over.
Jacob Shapiro:Like there's a lot that is unclear here and in the background.
Jacob Shapiro:Iran and the United States continue to have negotiations, and Marco
Jacob Shapiro:Papich has been running around the Middle East briefing clients and
Jacob Shapiro:learning things from the ground up.
Jacob Shapiro:Marco, where should we start?
Marko Papic:Uh, well, I mean, I, I thought that was, uh, you know, I, I
Marko Papic:think one of the interesting things that Trump does is that he actually gives
Marko Papic:props to, you know, America's rivals.
Marko Papic:And it's very old school.
Marko Papic:It's medieval.
Marko Papic:You know, um, and I think that he had, this isn't the first time he's done it.
Marko Papic:He actually did that to Iran after the, uh, killing of general
Marko Papic:Soleimani Iran retaliated.
Marko Papic:And President Trump said, okay, I respect that.
Marko Papic:I consider this matter over actually Vice President Harris is, you know, brought
Marko Papic:that up in the debates, if you remember.
Marko Papic:And she actually accused him of being callous and glib about,
Marko Papic:uh, American servicemen being, you know, put in harms ma away.
Marko Papic:Um.
Marko Papic:You know, I think it's appropriate given that the world is multipolar
Marko Papic:and you can't, uh, enforce some sort of a unipolar normative hegemony.
Marko Papic:So you've got to, you know, recognize the reality.
Marko Papic:But what's interesting to me is just how quickly apparently the deal was
Marko Papic:struck between the US and the Houthis, and what's not clear to me, but I lean
Marko Papic:towards the view that President Trump.
Marko Papic:And the Houthis actually agreed that they would not target American
Marko Papic:vessels and American shipping.
Marko Papic:It didn't seem to me like the Houthis said that they would like
Marko Papic:stop targeting all shipping, but I.
Marko Papic:You know, I guess that's yet to be confirmed or, you know, seen in reality.
Marko Papic:So, um, it does seem to me like the US is, you know, effectively
Marko Papic:just pursuing its own interests.
Marko Papic:And I think that, uh, most countries in the Middle East, uh, already knew that.
Marko Papic:In fact, one of the interesting things that I did found out while
Marko Papic:I was in, uh, Saudi Arabia was that for many Saudis, it was really after.
Marko Papic:Various drones attacked their infrastructure, energy, infrastructure,
Marko Papic:um, that Saudi Arabia took seriously.
Marko Papic:Uh, this idea that Americans wouldn't be there to actually prevent any conflict
Marko Papic:with Iran, and therefore they went ahead.
Marko Papic:And made their own detant, I don't wanna call it a peace deal 'cause it's
Marko Papic:not Iran and Saudi Arabia are always gonna be rivals and they're all always
Marko Papic:gonna look at each other as skew.
Marko Papic:But, uh, it was interesting that that was, that was the narrative that, uh,
Marko Papic:was very prevalent in Saudi Arabia.
Marko Papic:It was like an obvious thing, like Yes.
Marko Papic:I mean, once we realized that Iran can strike in inside Saudi Arabia,
Marko Papic:you know, relatively, uh, with little costs from the American perspective, we
Marko Papic:decided to make our own deal with them.
Jacob Shapiro:Huh?
Jacob Shapiro:You, you were right.
Jacob Shapiro:Uh, so President Trump himself, he, here's the quote from him.
Jacob Shapiro:They said, please don't bomb us anymore, and we're not going to attack your ships.
Jacob Shapiro:End quote.
Jacob Shapiro:Um, but then most of the media is covering it as the houthis agreeing to stop
Jacob Shapiro:interrupting important shipping lanes.
Jacob Shapiro:So I don't know how we got to that leap.
Jacob Shapiro:Um, sort of in the media there, I'm also fairly certain that, uh,
Jacob Shapiro:the Houthis did not call President Trump and say, please don't bomb us.
Jacob Shapiro:But, but that's neither here.
Jacob Shapiro:And nor there.
Jacob Shapiro:Um, well, let me just, let me cook on Israel for a second, uh, for
Jacob Shapiro:all three of our Israeli listeners and Yes, yes, I'm gonna do that.
Jacob Shapiro:The thing I hate the most in the world, a guy with the last name Shapiro, is
Jacob Shapiro:gonna tell you about Israeli geopolitics.
Jacob Shapiro:Um,
Marko Papic:but, and I, and the guy with the name Papi, is just
Marko Papic:going to sidestep that land bind.
Marko Papic:Elegantly.
Marko Papic:Yeah.
Marko Papic:And let you fall right on it.
Marko Papic:No,
Jacob Shapiro:I jump on it.
Jacob Shapiro:Oh, by the way though, I mean, you know, in our last podcast, Marco, it was the
Jacob Shapiro:Jew who read the Vatican correctly.
Jacob Shapiro:You thought the next Pope was coming from Asia.
Jacob Shapiro:I said, no, I think he's coming from somewhere more traditional.
Jacob Shapiro:You nailed
Marko Papic:it.
Jacob Shapiro:The Jew.
Jacob Shapiro:The Jew won.
Jacob Shapiro:Nile is zero.
Jacob Shapiro:But here I'm probably gonna give up the victory right here.
Jacob Shapiro:Oof.
Jacob Shapiro:Yes.
Marko Papic:Well, you know what?
Marko Papic:That's just gonna launch a, a steady stream of new conspiracies
Marko Papic:that Jews also run the Vatican.
Marko Papic:Uh,
Jacob Shapiro:what's, that's a conspiracy.
Jacob Shapiro:Conspiracy implies lack of truth.
Jacob Shapiro:Um, so,
Jacob Shapiro:oh, I'm gonna get in trouble.
Jacob Shapiro:So when it comes to Israel, though, I think Benjamin Netanyahu.
Jacob Shapiro:Um, is an incredible domestic politician and he has survived for as long as he
Jacob Shapiro:has by creating this Iranian boogeyman.
Jacob Shapiro:And I think long term in Israel's grand strategy, it's the exact wrong thing to
Jacob Shapiro:do because the long term threat to Israel is not from Iran, from a Shiite Persian
Jacob Shapiro:country that is many thousands of miles or however much it is away from Israel.
Jacob Shapiro:It's from.
Jacob Shapiro:Local Sunni Arabs and from Turkey, and those forces have been sort of gaining
Jacob Shapiro:in power, gaining in wealth around Israel, even as some of them, like the
Jacob Shapiro:Saudis are batting their eyelashes at it.
Jacob Shapiro:And Netanyahu continues to hammer on the Houthis.
Jacob Shapiro:The other thing that Netanyahu did was he completely tripled down in
Jacob Shapiro:his relationship with Donald Trump.
Jacob Shapiro:Thought that Donald Trump was gonna look out for Israeli interests, thought
Jacob Shapiro:that, you know, he had the measure of the man, and that was a miscalculation.
Jacob Shapiro:Huge.
Jacob Shapiro:He didn't have the measure of the man.
Jacob Shapiro:I have been saying for years that the United States would jettison
Jacob Shapiro:Israeli interest just as soon it was as it was in US interest to do so.
Jacob Shapiro:And that would've been Biden, it would've been Harris, it would've been Trump.
Jacob Shapiro:It would've been anybody.
Jacob Shapiro:There was nobody who was gonna have that ironclad commitment.
Jacob Shapiro:I. With Israel, and I don't care that Jared Kushner's in the background, like
Jacob Shapiro:it's just, it's just not gonna work.
Jacob Shapiro:And Israel long term, if it's thinking about its future, it really needs to start
Jacob Shapiro:thinking about a world in which it doesn't have, um, sort of unqualified US support.
Jacob Shapiro:It needs to think about threats that are much closer to home, whether that's
Jacob Shapiro:Turkey, in its navy, in its backyard, or going after their natural gas
Jacob Shapiro:interests or, uh, you know, the breaking up of trees with Egypt and Jordan
Jacob Shapiro:or real insurgency in the West Bank.
Jacob Shapiro:Because the Palestinians realize they have nothing less left to lose.
Jacob Shapiro:Like it's a very difficult position that Israel has put itself in.
Jacob Shapiro:And I, I think from just a grand strategy point of view, it's short-term
Jacob Shapiro:politics is affecting Israel's long-term strategic interests.
Jacob Shapiro:And this should be a big warning sign to Israeli strategic decision
Jacob Shapiro:makers, security officials, they probably won't listen to it 'cause
Jacob Shapiro:they're all obsessed with, you know, the Iranian nuclear weapon.
Jacob Shapiro:And I get it, I get why you're obsessed with that.
Jacob Shapiro:But there are much bigger fish to fry closer to home, and I don't
Jacob Shapiro:think anything's gonna change.
Jacob Shapiro:And, and that's just the way that it's.
Jacob Shapiro:And, and ramp.
Marko Papic:No.
Marko Papic:I mean, I wish there was something to disagree with you on, but I think
Marko Papic:you're a hundred percent I, I don't know whether I said it on the podcast
Marko Papic:or whether I said it to my clients in meetings, but I think that it's incredibly
Marko Papic:naive to triple down on Donald Trump.
Marko Papic:I. So he moved the embassy to Jerusalem.
Marko Papic:Whoop d Do you know, like, okay, that means nothing.
Marko Papic:I, I would disagree with one thing.
Marko Papic:I think it would be very difficult for Joe Biden or Vice President
Marko Papic:Harris, uh, to turn on Israel.
Marko Papic:I. I think that they would've been accused immediately by
Marko Papic:the Republicans of being weak.
Marko Papic:Donald Trump can do it in a second.
Marko Papic:And by the way, Donald Trump can pretty much do anything he wants,
Marko Papic:and there's very little criticism he will receive, um, from I would
Marko Papic:argue a majority of Americans.
Marko Papic:And so this is, this is a big one.
Marko Papic:This is, this is where I think, um, you know, president
Marko Papic:Trump has a mix, I think of.
Marko Papic:Pretty solid instinct on us.
Marko Papic:Interest at times.
Marko Papic:At times, particularly tactically, maybe long term no.
Marko Papic:But tactically, yes.
Marko Papic:And second of all, you know, Donald Trump's interests are what's good for
Marko Papic:Donald Trump and continued conflict in the Middle East is not, I. He
Marko Papic:has branded himself very powerfully.
Marko Papic:This is important.
Marko Papic:Part of his brand is someone who can get deals done and more importantly,
Marko Papic:create geopolitical, equilibrium, equilibrium around the world.
Marko Papic:And I think Israel is making a, a, you know, a very big mistake
Marko Papic:by continuing the Gaza operation.
Marko Papic:Uh, and I don't mean that from a operational perspective or
Marko Papic:tactical perspective of like, let's find hostages and destroy Hamas.
Marko Papic:You know, that's all fine and good, and Israel could do whatever they want.
Marko Papic:I understand that, but it's more from a perspective of like, is that aligned
Marko Papic:with President Trump's interests?
Marko Papic:And they should probably fall in that line.
Marko Papic:I. If they want to continue to receive his support.
Marko Papic:And I think this Houthis deal is a great example of that.
Marko Papic:I mean, like the Houthis attacked Tel Aviv airport either right after the deal
Marko Papic:was struck, or while President Trump was, you know, phoning the Houthis.
Marko Papic:And uh, and there was no, and there has been like no comment
Marko Papic:from the United States on that.
Marko Papic:And that should be a really, that should send very cold sweat down the spine
Marko Papic:of anyone in Netanyahu's government.
Jacob Shapiro:Yeah.
Jacob Shapiro:What about, what about, uh, king Abdullah and, and Jordan and RFK
Jacob Shapiro:Jr? I'll, I'll let you cook on that.
Marko Papic:Well, no, I mean, that's, that's also aligned with
Marko Papic:your view, which is, I mean, again, maybe where I would disagree with
Marko Papic:you is a little bit on Turkey.
Marko Papic:You know, I, I don't see why.
Marko Papic:You know, I think Turkey has interest in designs on Iraq and Syria and Lebanon, but
Marko Papic:I also don't think that Turkey in any way, shape, or form has ever, you know, um,
Marko Papic:considered or thought or even fantasized or dreamed or had a nightmare about, uh,
Marko Papic:Israel not having the right to exist.
Marko Papic:So that's where I think I disagree with you.
Marko Papic:I think Turkey and Israel can coexist.
Marko Papic:They can be rivals, they can be even enemies, but it's not an existential risk.
Marko Papic:I I, I don't see why Turkey would have that kind of a, you
Marko Papic:know, confrontation with Israel.
Jacob Shapiro:May, maybe it's not an existential risk, and maybe that's like
Jacob Shapiro:the outlier scenario, but it is certainly a geopolitical imperative for Turkey.
Jacob Shapiro:Once it, it has to have control of the Levant first and of,
Jacob Shapiro:you know, uh, Iraq and all.
Jacob Shapiro:And it has to subdue, uh, any threat from Persia or whatever.
Jacob Shapiro:But eventually, um, the Neo Ottomans.
Jacob Shapiro:Have to have, what is today, Israel, like Ottoman Palestine was taken, like, it
Jacob Shapiro:wasn't a Palestinian state that the, the Jews took, uh, Ottoman Palestine from it.
Jacob Shapiro:It was the Ottoman Empire that they, they inserted themselves and then the
Jacob Shapiro:British Empire that held it afterwards.
Jacob Shapiro:And if you are, if you have imperial ambitions in the region, that the
Jacob Shapiro:area that is Israel or Palestine or whatever you wanna call it, based on
Jacob Shapiro:your politics, has always been important for those types of regional powers that
Jacob Shapiro:are thinking about connecting Middle East, Eurasia, all these other things.
Jacob Shapiro:So.
Marko Papic:I think it's tough.
Marko Papic:I think it's tough for them to repeat.
Marko Papic:You know, I, I don't think water will flow down the same channels, you
Marko Papic:know, 200 years later, but it's okay.
Marko Papic:We can disagree on that.
Marko Papic:I mean, ultimately, uh, it doesn't to, to me that's like step two, step three,
Marko Papic:and we can debate it at some other time.
Marko Papic:But to me, I would say the biggest threat is, um, collapse
Marko Papic:of states that have treaties.
Marko Papic:You, you framed it like Egypt and Jordan one day decide they
Marko Papic:don't want to tear up the.
Marko Papic:Treaties that they have with Israel.
Marko Papic:Um, and I would say that that could happen because those states
Marko Papic:collapse due to Israeli actions.
Marko Papic:Now, that's less likely to happen with Egypt because it's such a large country
Marko Papic:and an influx of Palestinian refugees into Egypt I think is relatively manageable.
Marko Papic:And it's uh, you know, it's basically run by the military and so on and so on.
Marko Papic:But what's happening in Jordan is I think, very concerning.
Marko Papic:And this is, uh, this is where the west can really be callous.
Marko Papic:Like if we had a TikTok camera, I would ask for you to like, shine
Marko Papic:it on me, because here's a country that's done nothing but like
Marko Papic:right by the west, by its allies.
Marko Papic:It's, uh, it's stable monarchy, uh, you know, king Abdullah is
Marko Papic:doing the best job he can do.
Marko Papic:Um, it's a country where Palestinian, uh, Palestinians either descendants
Marko Papic:of refugees or refugees themselves, uh, form a very large majority.
Marko Papic:It's a country where the PLO.
Marko Papic:At one time in its, uh, in its sort of rambunctious youth when
Marko Papic:they had their hair down and they were smoking cigarettes and.
Marko Papic:Running around hijacking planes, tried to overtake King Abdullah's
Marko Papic:father King, uh, in, uh, 1971, where the United States effectively had to
Marko Papic:bring in the pa, uh, the Pakistanis to save the Hashemite kingdom.
Marko Papic:So this is a country with a history of problems between the
Marko Papic:monarchy and the Palestinians.
Marko Papic:I think King Gah has really, uh, worked on fixing that.
Marko Papic:He is married to a very eloquent, very, uh, I think, uh, you know.
Marko Papic:Well-spoken Palestinian himself.
Marko Papic:Um, so he's tried to create this kind of syncretic culture, but
Marko Papic:the, that makes it more difficult for him to ignore what's going on.
Marko Papic:And over the past, you know, 18 months, I would say.
Marko Papic:Did the delta, the change in tone.
Marko Papic:From the monarchy of Jordan is probably the most severe when it comes to
Marko Papic:Israel out of any country in the world.
Marko Papic:You know, people talk about Europeans not sending weapons to Israel anymore.
Marko Papic:Like that's, that's neither here nor there.
Marko Papic:The real change in attitude and tone is from Jordan, and I think
Marko Papic:King Abdullah is basically telling the world like, Hey guys, like.
Marko Papic:I can't hold back the dam any longer.
Marko Papic:And if, uh, you know, if Israel Annexes Gaza, I think that's, you know, uh,
Marko Papic:perhaps neither here nor there, but I think the biggest problem is what
Marko Papic:happens to the Po Palestinians, the West Bank, and if they start coming
Marko Papic:across the border to Jordan, I think that Israeli threat perception
Marko Papic:is going to diametrically change.
Marko Papic:Israel has not had to guard its eastern borders, which are massive.
Marko Papic:It hasn't had to deal with them in over.
Marko Papic:You know, 30 years, it hasn't had to really worry about them at all.
Marko Papic:And so I think that this is an existential risk to Israel.
Marko Papic:I believe that the pers, the preservation of the Hashemite monarchy dynasty in
Marko Papic:Aman is more important to, honestly, Israeli continued existence then.
Marko Papic:I mean, anything in the world.
Marko Papic:And yet they're treating it so callously because you're completely right.
Marko Papic:Benjamin Netanyahu is perhaps one of the greatest domestic politicians in
Marko Papic:the world, but I think that he has absolutely no interest in what happens
Marko Papic:to his own country 24 months after today.
Jacob Shapiro:Can't argue there.
Jacob Shapiro:All right, let, let's move on from that.
Jacob Shapiro:I'm sorry, I'm,
Marko Papic:I know we're short on time, but I just wanna say Nancy Pelosi and RFK.
Marko Papic:What the hell do they even know about this region?
Marko Papic:I mean, they're blaming king of this is the hypocrisy that I, I just, I, I'm
Marko Papic:like 2000 children in Amman hospitals.
Marko Papic:The third richest country on the planet has the gall I.
Marko Papic:To criticize Jordan for not taking 2006 kids from Gaza.
Marko Papic:What?
Marko Papic:There's no space in American hospitals like, are you kidding me?
Marko Papic:This is a country of like 12 million people.
Marko Papic:You know, I mean, like it is shocking that they would've publicly voiced this.
Marko Papic:And anyone who's watching this and hates Trump and the Republicans or
Marko Papic:hates Democrats, uh, and you know, Joe Biden, please for the love of God,
Marko Papic:realize they're kind of all morons.
Marko Papic:You know, the Nancy Pelosi and RFK can be on the same page.
Marko Papic:And that page is quite frankly, like.
Marko Papic:I mean it, it's embarrassing for the United States of America to be
Marko Papic:putting that kind of pressure on a country that's trying to balance.
Marko Papic:I. Incredibly difficult politics and geopolitics.
Marko Papic:So, you know, God bless Jordan.
Marko Papic:Obviously I'm biased.
Marko Papic:I spent four years of my life there as a kid, and I think it's an awesome
Marko Papic:country and I think that, uh, they're doing the best in a very, very
Marko Papic:difficult region to balance all sorts of different, very difficult landmines.
Marko Papic:Um, so.
Marko Papic:I think it's embarrassing what, uh, Nancy Pelosi and RFK said, they're
Marko Papic:basically accusing, you know, king Abdullah of reneging on his promise
Marko Papic:to bring sick children into Ahman.
Marko Papic:But it's not that simple, you know?
Marko Papic:And if, and if, if they understood that, they would just, you know, swallow
Marko Papic:the bullet and say, you know what?
Marko Papic:United States of America will take them, because it's become a very
Marko Papic:difficult thing for King Abdullah too.
Marko Papic:To, to act on.
Jacob Shapiro:Yeah.
Jacob Shapiro:It's, it's tone deaf and I, I also appreciate Jordan, just from an
Jacob Shapiro:intellectual perspective, because on paper, if you just look at all the things
Jacob Shapiro:that like make up Jordan and all the challenges they've had, that country
Jacob Shapiro:should not exist geopolitically, I.
Jacob Shapiro:Like it doesn't make sense.
Jacob Shapiro:The fact that the hash mites have held on as long as they
Jacob Shapiro:have doesn't make any sense.
Jacob Shapiro:It's actually a, a nice piece, a nice slice of humble pie for geopolitical
Jacob Shapiro:analysts, because everything that I know about geopolitics
Jacob Shapiro:tells me that Jordan should have collapsed during the Arab Spring.
Jacob Shapiro:And the fact that they're still, they're still alive and kicking after taking
Jacob Shapiro:all the Syrian refugees after everything with the Palestinians, after Isis on
Jacob Shapiro:his borders with the rock, Saudi, all these things, sorry, lemme go further.
Marko Papic:Can I interrupt you and go further that country?
Jacob Shapiro:Please, please, please.
Jacob Shapiro:In
Marko Papic:that country may very well in some sort of parallel
Marko Papic:universe be a bastion of terrorism.
Marko Papic:I mean, you have all these refugees from all these conflicts, uh, vast
Marko Papic:majority of them with a bone to pick with Israel, and yet it's been nothing
Marko Papic:but an absolute oasis of stability.
Marko Papic:And there's many reasons for that.
Marko Papic:I think that obviously the Hashemite Marky has done a great job and King Abdullah
Marko Papic:has followed in the footsteps of his dad.
Marko Papic:But I would also say that it has to do a lot with the Bedwin
Marko Papic:culture that they've adopted.
Marko Papic:The ability to sort of, you know, listen to everyone, you know, try to be.
Marko Papic:Try to take a cold shower before making any big decisions.
Marko Papic:So there's a lot of reasons for that.
Marko Papic:And obviously the support of the United States has helped, uh, support
Marko Papic:of Saudi Arabia as well at times.
Marko Papic:Although King Hussein kind of made some mistakes, specifically with
Marko Papic:supporting Saddam a little bit during the Gulf, the first Gulf War.
Marko Papic:But the point that I'm making is you're absolutely right, and it could
Marko Papic:be even worse, not just not exist.
Marko Papic:Israel cannot ask for an, honestly, a better neighbor.
Marko Papic:And, and yet the actions of Israelis are in the long term imperiling.
Marko Papic:That.
Marko Papic:So if you are pro-Israeli, if you care about Israel and its existence
Marko Papic:in the long term, cast your eye across the river Jordan, and take a moment
Marko Papic:to consider what would happen if Jordan, um, you know, destabilized.
Marko Papic:What's gonna happen then?
Marko Papic:Israel's gonna take the East Bank, you know, I mean, I mean, yeah.
Marko Papic:So anyways, that's, I'm, I'm, that's a ran today.
Jacob Shapiro:Yeah.
Jacob Shapiro:Yeah.
Jacob Shapiro:I, I'm sure there are, uh, Zionist zealots who think that, but yeah,
Jacob Shapiro:let, let's not get too far down the
Marko Papic:rabbit hole.
Marko Papic:Now we, uh, do our, uh, first commercial read.
Marko Papic:Uh, this, uh, podcast is sponsored by, uh, Royal Jordanian visit Jordan.
Marko Papic:I'm just kidding.
Marko Papic:It's not at all.
Jacob Shapiro:But this was, but, but if anybody from Royal Jordanian
Jacob Shapiro:would like to talk about that, please, please email the podcast.
Jacob Shapiro:We would love to talk to you Flights to New York
Marko Papic:from Aman three times a week.
Marko Papic:I actually have no idea.
Jacob Shapiro:Uh, it's from what I understand from friends who, uh, it might
Jacob Shapiro:be the worst airline in No, come on.
Jacob Shapiro:One.
Jacob Shapiro:One of the worst.
Jacob Shapiro:One of the worst.
Jacob Shapiro:Worst.
Jacob Shapiro:I'm sure you have
Marko Papic:clearly not flown Sub-Saharan air lights.
Jacob Shapiro:Yeah, I was just gonna say, which is a great segue to the
Jacob Shapiro:second thing I wanted to talk about.
Jacob Shapiro:I know you wanna talk about social media and branding.
Jacob Shapiro:But you were the one who sent me that you've been getting.
Jacob Shapiro:Pro Ibrahim Chore, I don't think I'm pronouncing that correctly.
Jacob Shapiro:Videos, um, on your YouTube algorithm, uh, this is the leader, dictator,
Jacob Shapiro:president General, whatever he wants to call himself of Burkina Fasu.
Jacob Shapiro:Uh, probably most of our listeners, uh, I don't know, we have a lot
Jacob Shapiro:of nerds here, but so Burkina Fasu, landlock country in Africa.
Jacob Shapiro:Uh, borders on places like Mali.
Jacob Shapiro:Uh, yeah, Mali to the north, Ghana to the south.
Jacob Shapiro:Um, doesn't quite touch Nigeria has some Niger, um, that's in there.
Jacob Shapiro:Um, also to the south is, um, ivory Coast.
Jacob Shapiro:Um, it's about in terms of population, the size of Florida, so landlocked
Jacob Shapiro:Florida in the middle of Africa.
Jacob Shapiro:Um, over 40% of the population below the poverty line.
Jacob Shapiro:Um, agriculture is the primary sector.
Jacob Shapiro:It employs 80% of the workforce producing 35% of GDP.
Jacob Shapiro:So we're basically in the middle ages here.
Jacob Shapiro:Basically, peasants, uh, gold is their biggest export, roughly 70% of exports.
Jacob Shapiro:They also export some cottons, some zinc, some phosphates, some livestock.
Jacob Shapiro:I hope you're getting the picture of what kind of country this is.
Jacob Shapiro:Um, they have a penant for coups.
Jacob Shapiro:Um, gosh, how many coups have they had in recent years?
Jacob Shapiro:Uh, it's, uh.
Jacob Shapiro:19 66, 19 80, 19 82, 19 83, 19 87. Twice in 2000, 2020, uh, 2022.
Jacob Shapiro:They also had failed coups in 19 89, 20 15, 20 23.
Jacob Shapiro:Um, so, I mean, not exactly the most stable place.
Jacob Shapiro:They actually did have a very famous leader named Thomas Sakara.
Jacob Shapiro:I was reading about him.
Jacob Shapiro:I didn't know about him until I was, uh, doing the background on this.
Jacob Shapiro:Marco, who was the 1983 successful coup guy, he got assassinated a
Jacob Shapiro:couple years later in coup of 1987.
Jacob Shapiro:Um, but was a really interesting guy.
Jacob Shapiro:Um, embarked on a nationwide literacy campaign, land re redistribution
Jacob Shapiro:to peasants, vaccinating Burkina Faso's children, outlawing, polygamy,
Jacob Shapiro:and, uh, female general mutilation.
Jacob Shapiro:I mean, was a really, really interesting guy and talked about
Jacob Shapiro:Burkina Fosso being the vanguard of the Third world again, assassinated
Jacob Shapiro:after like three or four years by his friend in the Burkina Fa military.
Jacob Shapiro:Amidst all that Ibrahim chore is now the dictator.
Jacob Shapiro:Uh, it seems to me that he has none of.
Jacob Shapiro:Those classically liberal, uh, policies of Thomas Sankara.
Jacob Shapiro:Uh, but he fancies himself a dictator.
Jacob Shapiro:He is cozying up with Russia.
Jacob Shapiro:He, uh, went to, I forget which country he was going to for an inauguration,
Jacob Shapiro:but he came with a sidearm strapped and like gloves on, like has a whole like
Jacob Shapiro:thing for theatrics and things like that.
Jacob Shapiro:And Margo, you're getting pro videos of this guy on your YouTube algorithm.
Jacob Shapiro:So I hand it over to you.
Jacob Shapiro:What have you been watching that?
Jacob Shapiro:This is what you get on YouTube my friend.
Marko Papic:So, uh, hopefully we can get smooth to, uh, plug some of them,
Marko Papic:you know, just to, uh, to have some of our listeners, uh, sample these.
Marko Papic:So basically, I don't really wanna talk about Burkina Faso.
Marko Papic:Um, you know, it, it is a large gold producer in the world.
Marko Papic:Gold prices are shooting up, so, you know, good for them.
Marko Papic:That's, uh, drawing a lot of interest and chore has, uh, kicked out the French.
Marko Papic:He's kind of cozied up with the Russians, the Wagner group.
Marko Papic:So there's geopolitical sort of side issue here, but I wouldn't overstate it.
Marko Papic:No one's gonna fight over Burkina Faso in his gold mines.
Marko Papic:Like I bet you anything geopolitical YouTubers are
Marko Papic:like all up in arms about that.
Marko Papic:No, that's not gonna happen to me.
Marko Papic:What's interesting about it is that basically I'm sitting out, I'm sitting,
Marko Papic:uh, I think like, I don't know, somewhere trying to watch some NBA highlights.
Marko Papic:You know, and one of these YouTube shorts pops up and it's about,
Marko Papic:it's a pro like video, so I click on it 'cause I'm like, what?
Marko Papic:Burkina Faso.
Marko Papic:I haven't heard that country in a long time.
Marko Papic:And it's basically some, you know, chill dude who keeps pronouncing
Marko Papic:the country's name as Burkina Facia.
Marko Papic:Well, I mean, and he just goes, I'm not an
Jacob Shapiro:expert.
Jacob Shapiro:May.
Jacob Shapiro:Maybe that's the right way to pronounce it.
Jacob Shapiro:I don't actually, I don't think so,
Marko Papic:but like he goes off about how it's awesome and I'm like, whatever.
Marko Papic:I don't understand where this person came from, but sure.
Marko Papic:Going back to watching my Lakers get shredded by the Timberwolves
Marko Papic:and then a couple of days later, boom, another one this time.
Marko Papic:It's a cute girl.
Marko Papic:You know, young Hip, like it would be one of those videos for like how
Marko Papic:to put on nice foundation before the makeup goes on and boom, she's
Marko Papic:staring at a camera and talking about Burkina Faso and how TRO is awesome.
Marko Papic:And then I realized like, wait a minute, this guy is literally.
Marko Papic:Like paying people around the world to make these videos.
Marko Papic:Like can we just stop for a second and acknowledge that Ibrahim tra dude with
Marko Papic:a sidearm and white gloves and like he's actually paying people around the world
Marko Papic:or some PR agency to create these poorly engineered yet organic videos about how
Marko Papic:he's an awesome revolutionary leader.
Marko Papic:I'm just like, wow, geopolitics is gone.
Marko Papic:Like, no.
Marko Papic:All I'm thinking about like, Jacob, you and I are gonna become like
Marko Papic:absolute millionaires and here's why geopolitics is gone like mainstream.
Marko Papic:You know, just this guy tr he's, he's on our side.
Marko Papic:He's on our corner.
Marko Papic:God bless him.
Marko Papic:In fact, let me tell you something.
Marko Papic:He has shown perseverance.
Marko Papic:Fighting off the colonial French who wanted his minds.
Marko Papic:I, I'm just kidding.
Marko Papic:He actually hasn't paid me yet, so I can't really do the whole bit.
Marko Papic:But the point is, it's insane.
Marko Papic:Like social media has become a geopolitical battleground now.
Marko Papic:I know a lot of people are gonna say, dude, that's always been the case.
Marko Papic:Like, you know, Russia has stole the election.
Marko Papic:Like, no, no, no, no.
Marko Papic:This is much more organic, much more low key, much more lowbrow,
Marko Papic:and it's kind of awesome.
Jacob Shapiro:You know, um, he is the exact same age that
Jacob Shapiro:I am, so he's younger than you.
Jacob Shapiro:In some sense, we should view him as a competitor.
Jacob Shapiro:And maybe Marco, it shouldn't be you and I talking.
Jacob Shapiro:Maybe we should get some cute girl putting on her foundation and then looking in
Jacob Shapiro:the camera and being like Multipolarity and Royal Jordanian Airlines.
Jacob Shapiro:What is the combination of these things and why should you listen
Jacob Shapiro:to Marco Papich and Jacob Shapiro?
Jacob Shapiro:Um.
Jacob Shapiro:But so, so, so he is younger than you?
Jacob Shapiro:Yes.
Jacob Shapiro:And I, I will say, I'll, I take that, I'll take a little bit of the other side, which
Jacob Shapiro:is to say, this is obviously Russia is pushing this like the, like this has the
Jacob Shapiro:Kremlin's propaganda fingers all over it.
Jacob Shapiro:And why they're, maybe they're testing something out.
Jacob Shapiro:I don't know.
Jacob Shapiro:Like I don't think that Chori was sitting there and was like,
Jacob Shapiro:haha, I will use you YouTube.
Jacob Shapiro:No disagree.
Jacob Shapiro:In order to
Marko Papic:I disagree.
Marko Papic:You disagree, Aaron?
Marko Papic:Fine.
Marko Papic:Go.
Marko Papic:I disagree.
Marko Papic:I think you nailed it.
Marko Papic:And actually I noted his age.
Marko Papic:I looked him up.
Marko Papic:Yes.
Marko Papic:He's like 37.
Marko Papic:Right.
Jacob Shapiro:He is 37.
Jacob Shapiro:There you go.
Jacob Shapiro:So
Marko Papic:I noted that and I was like, no man.
Marko Papic:I bet you, I bet you he's doing this himself.
Marko Papic:Actually, he may not even like this.
Marko Papic:There is a department right in his like communication administrator or something,
Marko Papic:and he has literally hired the person to do this because he's 37, because he's
Marko Papic:tech savvy, because he probably spends like seven hours a day on YouTube.
Marko Papic:This guy is literally paying people to do his branding and pr.
Marko Papic:To what end?
Marko Papic:I'm not really sure, but I, I for sure hope that he listens to us.
Marko Papic:I will do a live show out of Burkina Faso, like bring it.
Jacob Shapiro:Do you know what the capital, Burkina Faso?
Jacob Shapiro:Yes, it's
Marko Papic:uga.
Marko Papic:Uh, wait.
Jacob Shapiro:Wow.
Jacob Shapiro:Something like that.
Jacob Shapiro:Okay.
Jacob Shapiro:I, yeah, I, I wasn't even gonna try to pronounce it, but I see that.
Jacob Shapiro:I see that you have it there.
Jacob Shapiro:He also Is that, what is this?
Jacob Shapiro:Wait, wait.
Jacob Shapiro:How do you, you got
Marko Papic:it, pronounce it.
Jacob Shapiro:I don't know how to pronounce it.
Jacob Shapiro:It's spelled O-O-U-A-G-A-D-O-U-G-O-U.
Jacob Shapiro:I think it's wa, yes.
Jacob Shapiro:Wagu.
Jacob Shapiro:It's got some French stuff in there.
Jacob Shapiro:Um, he's also got not an, not on an interesting past.
Jacob Shapiro:He studied geology and university.
Jacob Shapiro:He was part of an association of association of Muslim students and a
Jacob Shapiro:Marxist association when he was in school.
Jacob Shapiro:Oh.
Jacob Shapiro:At the same time,
Marko Papic:this guy is just hedging, hedging, Islamist and Marxist.
Marko Papic:You know, like he doesn't care.
Marko Papic:I mean, no, this guy, well, his biggest challenge
Jacob Shapiro:is the Jihadists, like Burkina, FASU, Niger,
Jacob Shapiro:all these different countries.
Jacob Shapiro:I mean, this is like smuggling Central and the Jihadists and all these others
Jacob Shapiro:are moving weapons and drugs and people through all these different things.
Jacob Shapiro:And the reason that he's in the position that he is and that you've had coups
Jacob Shapiro:in all of these different countries, and why they're also mad at the French
Jacob Shapiro:is because nobody could stop this and they're dealing with massive insecurity.
Jacob Shapiro:And you're probably gonna have a population that is willing to trade.
Jacob Shapiro:You know, whatever the heck he wants to do, wearing gloves with his side arm.
Jacob Shapiro:If he gives them security, I don't know if he's gonna be able to give them security.
Jacob Shapiro:This is a tall task.
Jacob Shapiro:This is not, uh, this is not like bouquet le where he can just lock
Jacob Shapiro:them all up and then start, you know, uh, uh, harvest, uh, mining Bitcoin
Jacob Shapiro:with the powers from the volcano.
Jacob Shapiro:Like Burino FSU doesn't really have much that it can really go with, and
Jacob Shapiro:he's gonna have to really defeat the GI and listen and he's gonna survive.
Jacob Shapiro:So,
Marko Papic:listen, listen.
Marko Papic:So what if the gold bugs are right and gold goes to 5,000, right?
Marko Papic:Like, look, I just, I just wanna say right away, uh, I Raheem, uh, sorry.
Marko Papic:President Tro I, Marco Poppi, I was pretty much the first to notice what you're doing
Marko Papic:on social media and call it brilliant.
Marko Papic:Uh, when you set up your Sovereign Wealth fund, I. You got your CIO right here.
Marko Papic:Boom.
Marko Papic:There you go.
Jacob Shapiro:I don't think gold going to 5,000 is gonna
Jacob Shapiro:make enough of a difference here.
Jacob Shapiro:I think you're overstating it.
Jacob Shapiro:It
Marko Papic:probably, it probably won't.
Marko Papic:It's actually, uh, look, it's a large country, as you said, the size of Florida.
Marko Papic:Uh, lots of people.
Marko Papic:Um, I think it's like 38 million or something like that.
Marko Papic:Um, and, uh, so yeah, uh, lots of challenges.
Marko Papic:This isn't, uh.
Marko Papic:This isn't an easy country to run, actually.
Marko Papic:What is the population?
Marko Papic:Let's see here.
Marko Papic:I don't think I got that
Jacob Shapiro:right.
Jacob Shapiro:Think's like 0.3 23 million.
Marko Papic:It is 23.
Marko Papic:My bad.
Marko Papic:Yeah, I just doubled.
Marko Papic:Well, you know what?
Marko Papic:I'm already thinking and I already took Ghana, uh, for my future,
Marko Papic:uh, president, so there you go.
Marko Papic:I just combined it with Ghana.
Marko Papic:But anyways, look, the point is, joking aside, I think that it's fascinating.
Marko Papic:Like I should not, my, my YouTube algorithm obviously
Marko Papic:is trying to figure me out.
Marko Papic:Knows I'm a basketball fan and I guess love geopolitics,
Marko Papic:so he just like targeted me.
Marko Papic:But I wonder if any other of our listeners were targeted with these
Marko Papic:random videos of a random president.
Marko Papic:Like, and, and to what end?
Marko Papic:I don't know, but I do know that geopolitics is becoming far more
Marko Papic:mainstream than just a bunch of nerds.
Marko Papic:You know, IR nerds who like went to model United Nations in high school.
Jacob Shapiro:Maybe one of our listeners will tell us that there's
Jacob Shapiro:much a do here about nothing.
Jacob Shapiro:But there, you're not the first one to notice it.
Jacob Shapiro:I hate to burst your bubble, like in just the last month.
Jacob Shapiro:Oh.
Jacob Shapiro:The, the Economist had a profile of him.
Jacob Shapiro:The Council on Foreign Relations had a negative profile, like most of these
Jacob Shapiro:things being anti his policies and talking about him as a pro-Russian
Jacob Shapiro:Force, anti French, anti the west.
Jacob Shapiro:That's not the point.
Jacob Shapiro:But did talk
Marko Papic:about social media.
Jacob Shapiro:Uh, they all, uh, not as much that you, you have the social media
Jacob Shapiro:thing, but I'm just saying that like, they got in the economists' algorithm
Jacob Shapiro:and they got in the CFRs algorithm so that they're like focusing on this
Jacob Shapiro:guy, which there are tons of different places all around the world where you
Jacob Shapiro:probably have leaders who would love to have a profile in the Economist, even
Jacob Shapiro:if it's a negative one and they don't.
Jacob Shapiro:And this guy does.
Jacob Shapiro:So something is happening where he is like, he's winning, getting on
Jacob Shapiro:the radar of, of Western states and of English press to, to what end?
Jacob Shapiro:Like, like with you?
Jacob Shapiro:I'm not quite sure, but it's happening.
Jacob Shapiro:It's, it's interesting that it's happening.
Jacob Shapiro:So, um, okay.
Jacob Shapiro:Um, that is segment number two.
Jacob Shapiro:Segment number three.
Jacob Shapiro:You wanted to talk about geopolitical quantitative.
Jacob Shapiro:Quantitative titan.
Jacob Shapiro:Yeah, I have no idea where you're going with this.
Jacob Shapiro:Why don't you lead us off?
Marko Papic:Alright.
Marko Papic:Well, the, you know what, uh, two, so I've been traveling the world,
Marko Papic:um, over the last three weeks.
Marko Papic:So I did an around the world trip to visit my clients and give some speeches.
Marko Papic:It started with Hong Kong, Singapore, Abu Dhabi, Dubai, musket, Riyadh.
Marko Papic:I'm actually recording this out of Vadu in Liechtenstein, um,
Marko Papic:where I had some great fun with clients and, and, and good friends.
Marko Papic:And, uh, it's interesting to me that nobody's really panicking.
Marko Papic:You know, Americans are kind of panicking about President Trump and the tariffs.
Marko Papic:The rest of the world is not, they're not happy about it.
Marko Papic:But I didn't get a sense of, you know, that the rest of the world
Marko Papic:thinks that the world is collapsing.
Marko Papic:So that was, that was interesting.
Marko Papic:I did not get asked about a recession at all.
Marko Papic:No, I got asked about
Jacob Shapiro:because we're already in one.
Jacob Shapiro:Sorry.
Marko Papic:Yeah, no, and that's fine.
Marko Papic:Like we, we, we might be already in one, but you know, it's like whatever.
Marko Papic:Sure.
Marko Papic:Whatever.
Marko Papic:It'll be fine.
Marko Papic:Uh, and maybe that's a sign that it won't be fine by the
Marko Papic:way, and that's perfectly fine.
Marko Papic:Um, I understand that.
Marko Papic:But what was interesting to me was, first of all, everyone's already kind
Marko Papic:of comfortable with this world, and I mentioned earlier Saudi Arabia.
Marko Papic:You know, and I uh, mentioned basically how after the up cake cur attack in 2019.
Marko Papic:Saudi Arabia realized that it was, you know, it, it was kind of on its own,
Marko Papic:and so it had to make the deal with Iran without American participation.
Marko Papic:And then two things happened over the past week or so.
Marko Papic:First of all, we have India, Pakistan exchanging fires.
Marko Papic:We talked about that last podcast.
Marko Papic:And Vice President Shady Vance said very similar to President
Marko Papic:Trump's comments in the Houthis.
Marko Papic:He basically said like, look.
Marko Papic:America wishes that these two countries would settle their differences peacefully,
Marko Papic:and we certainly would hope that they do so, but it's not our fight.
Marko Papic:So you've got JD Vance basically saying like, look, India and
Marko Papic:Pakistan, like, God bless you both.
Marko Papic:We hope that you figure it out.
Marko Papic:And then President Trump saying like, well, we made a deal with the
Marko Papic:Houthis, like everyone else have fun.
Marko Papic:And so there are two ways to interpret this one.
Marko Papic:Is this hegemonic stability thesis, you know?
Marko Papic:This is why Unipolarity is so good.
Marko Papic:Charles Kindleberger famous economic historian, wrote
Marko Papic:about this in various books.
Marko Papic:Um, this idea that the Hegemon provides, uh, it solves the collective
Marko Papic:action dilemma of the world by providing global public goods such as
Marko Papic:literally the freedom of navigation.
Marko Papic:So the Houthis ex, uh, example being very important because the US has effectively
Marko Papic:just announced that it will no longer.
Marko Papic:Provide a very expensive global public good, which is
Marko Papic:free seaborne transportation.
Marko Papic:Like they, they will do so for their own ships and so.
Marko Papic:So the, the consensus view is basically that without hegemonic stability, you
Marko Papic:have, you know, multipolar instability.
Marko Papic:There is no more America ensuring that the rest of the world is going to be safe.
Marko Papic:This is effectively the beginning of the end of the world as our former,
Marko Papic:uh, colleague and, and good friend Peter Zion, you know, wrote his book.
Marko Papic:But then.
Marko Papic:I have a different way to interpret this, especially when I look at what's
Marko Papic:happened with Iran and Saudi Arabia making a, a, a very stable detant,
Marko Papic:which has ensured that the Israeli Palestinian conflict doesn't actually
Marko Papic:spill over the rest of the Middle East.
Marko Papic:I mean, yes, Iran and Israel Exchange missile fire, but it hasn't spread
Marko Papic:to the rest of the Middle East.
Marko Papic:And in fact, the rest of the Middle East is quite.
Marko Papic:Quite stable.
Marko Papic:I just visited three countries in the Persian Gulf and they're awesome.
Marko Papic:There's absolutely nothing.
Marko Papic:No, I mean, there's absolutely nothing going on there.
Marko Papic:That's wrong.
Marko Papic:It would be like saying West Germany and Denmark are unstable because the Iron
Marko Papic:Curtain is next door during the Cold War.
Marko Papic:Well, that wasn't the case.
Marko Papic:Yes, iron Curtain countries behind it.
Marko Papic:Were in a bad shape, but West Germany was freaking awesome.
Marko Papic:So what I'm saying is that.
Marko Papic:Iran and Saudi Arabia actually came to an agreement.
Marko Papic:They had to sit down like adults.
Marko Papic:They had to, they had to talk, they had to delineate their interests
Marko Papic:and they had to resolve their differences in, in a very frosty way.
Marko Papic:No one's saying there's peace between them.
Marko Papic:What I'm getting at is this, yes, you can view American hegemony and provision
Marko Papic:of all these public goods as a very.
Marko Papic:Very stable, but at some point it can also become like quantitative easing qe and,
Marko Papic:and many people in finance know that with a central bank flooded the economy with
Marko Papic:effectively cheap money with qe, it's.
Marko Papic:It saved us from the great financial crisis and it's aftermath.
Marko Papic:Absolutely.
Marko Papic:I'm definitely not one of those people who shaked their little fist and angrily,
Marko Papic:you know, because I was short for the next four years and got my face ripped off.
Marko Papic:But at the same time, we all know that it created distortions in the economy.
Marko Papic:So, in other words, when, when a hegemon provides stability, it does so in a way
Marko Papic:that distorts reality and often countries and regions and entire geographies
Marko Papic:become addicted to that provision of, you know, cheap geopolitical.
Marko Papic:Um, stability.
Marko Papic:You have vassal states that effectively act with impunity because
Marko Papic:they are supported by the hegemon.
Marko Papic:You have rivals that feel slighted, that feel normatively and ideologically
Marko Papic:opposed in an existential way where they cannot come to an agreement
Marko Papic:and that creates instability.
Marko Papic:So the Withdrawal Withdrawal of American support or American oversight or American
Marko Papic:Geopolitical qe, so that you know, in financial terms would be quantitative
Marko Papic:tightening, which by the way, the Fed has been doing for several years and
Marko Papic:everybody thought it would end humanity.
Marko Papic:It hasn't at all.
Marko Papic:Similarly.
Marko Papic:The United States of America withdrawing its overarching
Marko Papic:support may not create instability.
Marko Papic:In fact, it may create stability because countries have to act
Marko Papic:with each other, like adults.
Marko Papic:They no longer, you know, countries that are American allies like Israel
Marko Papic:or Ukraine or Taiwan, may not have the blank check that they once had.
Marko Papic:Which is not a bad thing.
Marko Papic:It may force them to actually consider their security and threat environment
Marko Papic:and say, look, we don't have America at their back all the time, so we
Marko Papic:should actually sit down with our neighbors, with our rivals and create
Marko Papic:a geopolitical equilibrium that is effectively, you know, uh, more durable.
Marko Papic:They can, they can withstand a Donald Trump, they can withstand
Marko Papic:in the future a president, a OC.
Marko Papic:And so that's, that's kind of my lesson over the last couple of weeks
Marko Papic:that that's gotten me thinking that maybe we overstate how beneficial.
Marko Papic:Hegemonic stability is,
Jacob Shapiro:yeah, I think I would, I think I would push
Jacob Shapiro:back or, or caveat in two ways.
Jacob Shapiro:I think you're right that I think you're right for strong and developed
Jacob Shapiro:powers, because now stable balances of power have to emerge rather than a
Jacob Shapiro:hegemon being responsible for everything else and people pushing against
Jacob Shapiro:the hegemon and things like that.
Jacob Shapiro:But as you can see in places like Burkina Fasu or in Congo or with Indian
Jacob Shapiro:Pakistan, like places on the periphery.
Jacob Shapiro:Those places get worse because those places become the proxy wars
Jacob Shapiro:that the Olympians use to fight their battles because they're
Jacob Shapiro:not gonna fight their battles.
Jacob Shapiro:So sort of to your point with real wars, Russia tried to do that and
Jacob Shapiro:look where Russia is right now.
Jacob Shapiro:Nobody else is gonna do that, China included with Taiwan in my opinion.
Jacob Shapiro:But it's in those like forgotten places of the world that nobody really cares about.
Jacob Shapiro:I think that actually the lack of hegemonic power, and it's not even
Jacob Shapiro:hegemonic power, the lack of international order, like those are the places
Jacob Shapiro:that I think it shows up the most.
Jacob Shapiro:And the second is, um.
Jacob Shapiro:I think you're right for, for the snapshot in history where.
Jacob Shapiro:Countries are all trying to take advantage of the multipolar system.
Jacob Shapiro:But previous area eras of multipolarity eventually go to the point where you
Jacob Shapiro:have countries that get strong enough in their own backyards where they think
Jacob Shapiro:they can be the global hegemon, or they have an imperative, say like Japan in
Jacob Shapiro:the early 19 hundreds to become a hegemon because otherwise they can't continue to
Jacob Shapiro:grow or can't continue to do the things that geopolitics is forcing them to do.
Jacob Shapiro:So you have this.
Jacob Shapiro:Period.
Jacob Shapiro:I think you're right of like stable dynamism where you have
Jacob Shapiro:balancing against each other.
Jacob Shapiro:But if you get to the point where say, uh, and we're not there,
Jacob Shapiro:people have been calling this about China for example, for decades.
Jacob Shapiro:The moment where China really can't feed itself or can't power itself and
Jacob Shapiro:it has to go out and get those things from other places, and it needs, you
Jacob Shapiro:know, a Blue Water Navy to do that.
Jacob Shapiro:It needs to fight the Americans or the Russians or anybody else, wherever
Jacob Shapiro:they are, in order to secure access to those resources, and they think
Jacob Shapiro:that they're strong enough to do it.
Jacob Shapiro:Well, suddenly you can get sort of global war.
Jacob Shapiro:So I, the caveat there is, I think you're right in the short term, I just think
Jacob Shapiro:that if you go too far in that direction and you get countries that begin to
Jacob Shapiro:drink the Kool-Aid and believe that they are themselves, regional hegemons,
Jacob Shapiro:then you get the, the possibility of some of these global conflicts.
Jacob Shapiro:And I think the hardest thing for countries in
Jacob Shapiro:navigating the multipolar era.
Jacob Shapiro:We'll be 20 years from now that we're not in World War ii because I think if
Jacob Shapiro:things go unchecked and if you get the US on one side and China on one side, and
Jacob Shapiro:Europe and all of these mutually exclusive interests and countries that think they
Jacob Shapiro:are strong enough or deserve different things, like then you can get into the
Jacob Shapiro:situation that we were in in the early 19 hundreds and, and mid 19 hundreds.
Jacob Shapiro:But I, I think broadly speaking, like that's the reason I am so
Jacob Shapiro:like optimistic from an investment perspective over the next 10 to 15 years.
Jacob Shapiro:This should be a time of booming, not of, to your point, like constraint.
Marko Papic:Well, I mean, uh, but let's, let's put ourselves
Marko Papic:back in 1914, you know?
Marko Papic:Mm-hmm.
Marko Papic:I may have done this with the podcast before, so stop me if I have, but
Jacob Shapiro:you know, I don't think, I don't remember this.
Marko Papic:Okay, so let's, let's say the go of Princip,
Marko Papic:you know, shut out to my people.
Marko Papic:Serbs original terrorists since 1914, uh, started World War I, right.
Marko Papic:Um, shot.
Marko Papic:The, uh, crown Prince of basically Aster Hungary in Sarajevo, and
Marko Papic:that launches World War I. Now, let's imagine, let's create a
Marko Papic:scenario, a game where that happens.
Marko Papic:But every great power is a nuclear power.
Marko Papic:Mm-hmm.
Marko Papic:So Serbia is not a great power.
Marko Papic:So no nukes for Serbia, but also Hungary is, they have nukes, Russia has nukes.
Marko Papic:Uh.
Marko Papic:German Empire has nukes, France has nus, have
Jacob Shapiro:nukes,
Marko Papic:uh, let's say no.
Jacob Shapiro:Oh, okay.
Jacob Shapiro:That's, that's, uh, throwing some shade at the Ottomans, but, okay.
Jacob Shapiro:What, let's throw some shade.
Jacob Shapiro:I mean, like, they, they had the Janice series.
Jacob Shapiro:They were ahead of most people and, but fine.
Jacob Shapiro:No, no nukes for the Turks.
Jacob Shapiro:Yeah.
Jacob Shapiro:Well put Turkey.
Jacob Shapiro:Turkey.
Jacob Shapiro:Please remember that I was sticking up for you in this conversation.
Jacob Shapiro:You can have Burkina Fasu, uh, to, to our listeners in Istanbul and Ra with
Marko Papic:you.
Marko Papic:Yeah, well, I mean, Janice series were mostly serves in Albanians, first of all.
Marko Papic:But, uh, let's, let's not forget that.
Marko Papic:Also, also, uh, United Kingdom has nukes, but here's what happens in that scenario.
Marko Papic:I think in that scenario, what happens is Austria-Hungary attack Serbia as
Marko Papic:they did, they get their asses kicked, which, which happened in real life.
Marko Papic:They, they, they're shockingly loose.
Marko Papic:Then they invade Serbia again, and as in real life, they get their asses kicked.
Marko Papic:So it was only with a third attempt that the Austrians actually won,
Marko Papic:and it was because the Germans came along this third time.
Marko Papic:And so I think what happens in.
Marko Papic:The world, if everybody has nukes, is that basically Austria-Hungary versus
Marko Papic:Serbia becomes a Russia versus Ukraine conflict, United Kingdom, France.
Marko Papic:Then Russia supports Serbia with weapons, um, and Germany supports
Marko Papic:Austria-Hungary with weapons.
Marko Papic:And it's basically, you know, like these two blocks fighting a proxy
Marko Papic:war such as the Korean warp, such as Vietnam warp to an extent.
Marko Papic:And ultimately what's happening right now, uh, in other words,
Marko Papic:we don't get to World War I.
Marko Papic:We get to an Austria-Hungary versus Serbia conflict over effectively Bosnia
Marko Papic:here, governor, which Austrians lose.
Jacob Shapiro:Yeah.
Jacob Shapiro:And, and to your point, I mean, and maybe, maybe not a lot of people even die
Jacob Shapiro:because both sides at this point also have drones and artificial intelligence, and
Jacob Shapiro:it's just a battle of who has the best drones and robots and things like that.
Jacob Shapiro:And then whoever wins gets to conquer the social media, blah, blah,
Jacob Shapiro:blah, blah, blah, of that country.
Jacob Shapiro:And you go forward.
Jacob Shapiro:But, and obviously,
Marko Papic:yeah.
Marko Papic:Sorry, go ahead.
Jacob Shapiro:No, I just, the, the, the devil's advocate is.
Jacob Shapiro:Um, at the time when World War I broke out, like the, I, the prevailing
Jacob Shapiro:conventional theory was that economies were so interconnected that no country
Jacob Shapiro:would choose to go to war because it would be catastrophic for their
Jacob Shapiro:economies, and therefore they wouldn't.
Jacob Shapiro:Um, I think we've already, like that was proven wrong, like
Jacob Shapiro:countries were willing to do that.
Jacob Shapiro:Um, and we, I think we've seen that with the trade war.
Jacob Shapiro:Now, the extent to which the trade war has already gone shows you that
Jacob Shapiro:economic interconnectedness does not stop countries when they think their
Jacob Shapiro:geopolitical interests are at stake.
Jacob Shapiro:The, the way I'm gonna push back against you though, is that.
Jacob Shapiro:The notion that nukes will prevent great power conflict from breaking out feels
Jacob Shapiro:a little bit to me, like, oh, economic interconnectedness will obviously prevent
Jacob Shapiro:countries from going to war with each other because it would destroy them
Jacob Shapiro:like it has worked that way thus far.
Jacob Shapiro:But I, I don't know.
Jacob Shapiro:I'm not so saying when that, that is always gonna be the case.
Marko Papic:Well, look, there's two ways to look at this Jacob.
Marko Papic:Number one is that I'm right.
Marko Papic:Because people,
Marko Papic:wait, wait.
Marko Papic:Just lay.
Marko Papic:Let,
Jacob Shapiro:let, let.
Jacob Shapiro:I know it was, it was just funny the way you phrased it.
Jacob Shapiro:There are two ways to look at this.
Jacob Shapiro:First of all, I'm right.
Marko Papic:First of all, I'm right.
Marko Papic:Second of all, you're wrong.
Marko Papic:No, that would be the same thing.
Marko Papic:No.
Marko Papic:First of all, I'm right, and the reason I would be right is because it's much
Marko Papic:easier for a mere pleb to understand.
Marko Papic:Being incinerated by thermonuclear device.
Marko Papic:Then like how the web of interconnected finance and economy prevents conflict.
Marko Papic:In other words, like there is a, there's a real challenge in accepting nuclear war.
Marko Papic:Even amongst the dumbest of us.
Marko Papic:Right?
Marko Papic:So that's, that would be the first.
Marko Papic:The second way to think about it is that you are correct.
Marko Papic:I'll be wrong.
Marko Papic:There'll be the nuclear war and then we'll all die.
Marko Papic:But I'm gonna stick to my view because, and I'll tell you why.
Marko Papic:If there is a thermonuclear war and you are correct.
Marko Papic:The entire listening base of geopolitical cousins will, for a split second,
Marko Papic:think that Marco Pop is a moron, and that will be the last thought they
Marko Papic:have as they're incinerated, and I'm just comfortable with that view.
Marko Papic:I'm comfortable with being wrong for three seconds, so I'm gonna
Marko Papic:say that I'll be correct the
Jacob Shapiro:best, the best three seconds of my life.
Jacob Shapiro:Um, well, I I I don't, I don't wanna make it, I don't wanna get too grim
Jacob Shapiro:and too dystopian here, but Ha have you read, um, Mustafa Suleiman's book,
Jacob Shapiro:the Coming Wave Technology Power?
Jacob Shapiro:21st Century's greatest dilemma.
Jacob Shapiro:It's about like the sort of artificial intelligence and there's a chapter about
Jacob Shapiro:the intersection with biotechnology where the point that like some kid
Jacob Shapiro:in his garage with CRISPR could like create a virus that could go after
Jacob Shapiro:a particular family or a particular ethnicity, ethnic group you can.
Jacob Shapiro:Um, so like, you're, you're probably right, like in the outlier, thermonuclear
Jacob Shapiro:war, like, probably not gonna happen.
Jacob Shapiro:The nuclear powers aren't gonna do battle against each other.
Jacob Shapiro:Maybe Austria-Hungary, nukes, uh, Serbia in your, in your
Jacob Shapiro:metaphor or something like that.
Jacob Shapiro:But nobody's gonna nuke Austria-Hungary.
Jacob Shapiro:'cause then Austria-Hungary is gonna nuke them.
Jacob Shapiro:But could you have some radical in Austria-Hungary?
Jacob Shapiro:He was like, okay, I have now created a weapon that will wipe out the Serbians.
Jacob Shapiro:And then like, you know, what's gonna happen next is somebody gonna create
Jacob Shapiro:a virus that tries to wipe out the leaders of the, of Austria-Hungary
Jacob Shapiro:or the Austro-Hungarian themselves.
Jacob Shapiro:Like I, I think it starts to take us down these paths where maybe things
Jacob Shapiro:get really dark and, and really twisty.
Jacob Shapiro:So, so maybe it's not nukes that we should be worried about.
Jacob Shapiro:Maybe there are other ways that, that conflict and other weapons that,
Jacob Shapiro:that make that conflict less safer.
Marko Papic:That's fair.
Marko Papic:That's very dark, very fair.
Marko Papic:Um, I think to me thus far, look, I mean, the problem with nukes is
Marko Papic:that I. 99 out of a hundred times.
Marko Papic:Marco may be right, but the one time he's wrong.
Marko Papic:I mean, obviously it will be very bad.
Marko Papic:Um, and yet here we are, India and Pakistan have a clear
Marko Papic:security dilemma be between them.
Marko Papic:Uh, Pakistan used to be equivalent to India in terms of military strength.
Marko Papic:In the past, that hasn't been the case for like 50, 60 years.
Marko Papic:I mean, I, I don't even know.
Marko Papic:Uh, and yet there's a balance of power.
Marko Papic:And yet there's this very choreographed, you know, conflict every time.
Marko Papic:Like nuclear weapons.
Marko Papic:Clearly.
Marko Papic:I think clearly like if, if, if the, if the, if the South Asia subcontinent
Marko Papic:didn't have nuclear weapons, I mean, don't you think that India,
Marko Papic:given its massively overwhelming now advantage over the last at least 50
Marko Papic:years, would have at some point just said like, what are we doing here?
Marko Papic:Like, these guys can't fight us.
Jacob Shapiro:No, I think, I think you're actually making my point for me, which
Jacob Shapiro:is I think neither e Indian nor Pakistan believes it can conquer the other.
Jacob Shapiro:And that the noster there, to your point, is a defensive fail safe.
Jacob Shapiro:But we have not reached a point where either side can confidently
Jacob Shapiro:say to itself that we can conquer them and our government can survive
Jacob Shapiro:the political consequences or the pain that would come from doing this.
Jacob Shapiro:Like, sure, there's a billion Indians and there's 300 million Pakistanis.
Jacob Shapiro:How many Indians would have to die and a conventional war to number, wait a
Jacob Shapiro:minute, number one, conquer Pakistan, and then to actually govern it, like
Jacob Shapiro:it's just not realistic, but you could.
Jacob Shapiro:You could get to a scenario.
Jacob Shapiro:I don't think China's gonna do this, but let's, so let me say that now, right?
Jacob Shapiro:This is absolutely fantastical.
Jacob Shapiro:But let's say United States continues to decline.
Jacob Shapiro:We don't make ships anymore.
Jacob Shapiro:We only have 200 ships in the Navy.
Jacob Shapiro:We're having measles outbreaks everywhere.
Jacob Shapiro:China has become a true blue water Navy.
Jacob Shapiro:It's the everything else, and they decide.
Jacob Shapiro:Um, you know what?
Jacob Shapiro:We're gonna sail up the Mississippi and, and take the United States like
Jacob Shapiro:we think we can do this and we're tired of this Western power, whatever.
Jacob Shapiro:And it does.
Jacob Shapiro:The United States at that moment say, oh, the only thing we have
Jacob Shapiro:is nukes, like existentially.
Jacob Shapiro:We have to survive.
Jacob Shapiro:We fire the nukes back.
Jacob Shapiro:Like it has to be some type of scenario where a great power thinks
Jacob Shapiro:it can off another great power and then they have to resort to nuke.
Jacob Shapiro:'cause it's like a last.
Jacob Shapiro:Sort of ditch effort that,
Marko Papic:but I, I actually, I think you're creating a straw man
Marko Papic:and way too much of a high threshold because, you know, India and
Marko Papic:Pakistan could have a conventional war where a lot of people die.
Marko Papic:But overall limited.
Marko Papic:I mean, because I, I just don't see what would be the point of India conquering
Marko Papic:Pakistan for what end to what end?
Marko Papic:I don't think they would ever contemplate that, but Kashmir like
Marko Papic:taking all of it like that is a reasonable goal for a country to.
Marko Papic:Decide to start a conventional war over, and even that conflict has been prevented.
Marko Papic:And by the way, India has, has genuine, genuinely an overwhelming
Marko Papic:conventional military superiority.
Marko Papic:So clearly the reason it hasn't decided to do that is because of
Marko Papic:the Pakistani nuclear deterrent.
Marko Papic:So even a smaller conflict has been prevented.
Jacob Shapiro:Or, or because it doesn't have the imperative to do it
Jacob Shapiro:and the capability to do it, you're right that India is the, is a bad
Jacob Shapiro:example from that point of view.
Jacob Shapiro:The good example is the one I brought up earlier, which is early
Jacob Shapiro:19 hundreds Japan, which is to continue to survive and to grow.
Jacob Shapiro:Japan was forced to become imperialistic and like, you
Jacob Shapiro:know, dominant and militarily aggressive, and so they had to take.
Jacob Shapiro:C the, the East Indies, they had to take parts of China.
Jacob Shapiro:They had to take parts of Russia.
Jacob Shapiro:They had to continue to expand until they had enough control to actually maintain
Jacob Shapiro:their economy the way that was gonna be.
Jacob Shapiro:So you'd have to have a, a, a country with that kind of imperative that says, no, I
Jacob Shapiro:will go after the great powers, because if I don't, then the United States can just
Jacob Shapiro:cut off my oil and I'm done in six months.
Jacob Shapiro:Or, you know, China can just say something, great example, and I'm done.
Jacob Shapiro:That's a, so, um, I think that's a very, a very good
Marko Papic:example.
Marko Papic:That's how Ity fails.
Marko Papic:Yep.
Jacob Shapiro:Yeah, exactly.
Jacob Shapiro:And it's why China's maybe the scariest of, of all the countries,
Jacob Shapiro:because China has echoes of that.
Jacob Shapiro:Like China in its, in its vast history, usually can do things itself.
Jacob Shapiro:It's the middle kingdom.
Jacob Shapiro:It looks inwards, it thinks everybody else is barbarians.
Jacob Shapiro:But if you get to the point where China does truly have to look outward and has
Jacob Shapiro:to secure its interest by being a global hegemon, and if it starts to believe
Jacob Shapiro:that it can do that or must do that, like then you then multipolarity starts
Jacob Shapiro:to shift into a sort of darker place.
Marko Papic:And there, there are two.
Marko Papic:You know, we should probably dedicate a whole hour to China at some point,
Marko Papic:but I think there's two, there's two views on this, including in
Marko Papic:China, including with mainland China strategists and scholars and academics.
Marko Papic:And one is that no, China is genuinely different civilization.
Marko Papic:And then there's the other view which says no.
Marko Papic:Uh, you know, since the end of the last basically dynasty and
Marko Papic:the collapse of the SEN temporary regime, China has effectively
Marko Papic:adopted the operating software.
Marko Papic:I. From, you know, Europe of a nation state.
Marko Papic:And that does mean that they will eventually think like Japan did, like
Marko Papic:the United States does, thinking in terms of spheres of influence, regional
Marko Papic:hegemony, global hegemony, and so on.
Marko Papic:And so, uh, you know, I guess, I guess given your example, the world
Marko Papic:better hope that the Chinese do think there are different civilization,
Marko Papic:that they won't fall down the same path as every other regional and, uh.
Marko Papic:Global Hegemon.
Jacob Shapiro:I think they do, and I think they are.
Jacob Shapiro:But the United States one thought that it was too and
Jacob Shapiro:like history and defend it too.
Marko Papic:To your point, of all the countries that decided to wholeheartedly
Marko Papic:just adopt the operating system of European nation state, I mean,
Marko Papic:I think Japan is a great example.
Marko Papic:And so studying that early 20th century Japan and why it embarked on.
Marko Papic:The decisions it did, I think is very interesting.
Marko Papic:Of course, at the time imperialism was on mode, you know, so like the,
Marko Papic:you know, Japanese models at the time, their, their example were the
Marko Papic:expanding German empire talking about its place in the sun, the Russian empire
Marko Papic:next door, um, you know, Europeans.
Marko Papic:And so I can see how they.
Marko Papic:They thought that they were behind on imperialism, but nonetheless,
Marko Papic:I think your point is valid.
Marko Papic:Imperialism's back,
Jacob Shapiro:baby.
Jacob Shapiro:Uh, we, we've got pictures of William McKinley in the White House.
Jacob Shapiro:Remember?
Jacob Shapiro:Like, it's, it's back.
Jacob Shapiro:Yes, it's, it's, it's here to stay.
Jacob Shapiro:All right.
Jacob Shapiro:I gotta go pick up my kit.
Jacob Shapiro:That was a good 55 minutes.
Jacob Shapiro:We'll get back to y'all next week.