Chamath: Trump Created an Identity Crisis in the Democratic Party

@chamath on E214:

"The crazy thing about the Democrats is that they are the most sophisticated liars."

 "The conventional wisdom was that the Republicans were pro-capital and Democrats were pro-labor."

"And the brilliance of Trump is he took over the Republican Party and made it totally populist, which is to say pro-labor."

"Because if you look at what happened under Biden, you had record high stock markets. So it was purely in favor of asset owners."

Chamath explains other results under Biden that were anti-labor:
-- Record high deficits 📈
-- Record high illegal immigration 📈
-- Record high wage suppression 📈

"All of these things are massively pro-capital, but they tried to present themselves as pro-labor."

"They are actually not pro-labor. They are pro-capital."

"But that requires such a schism from the deepest believers of the Democratic Party who thought, 'Eat the rich.'"

"You wear it on your dress, it's so important to you."

" In fact, actually, you were feeding the rich. And the fact that you didn't even know that is just pathetic."

" That entire ruse is now being undone."

"They're going to be in a really difficult struggle to find a cohort of people beyond 15-20% of the population for a long time."

"There is no base from which to build from right now, unless they go through a great reset."