Tom Bilyeu's Impact Theory

What's up, everybody? It's Tom Bilyeu here:
If you want my help...
STARTING a business: join me here at ZERO TO FOUNDER:
https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show

SCALING a business: see if you qualify here.:
https://tombilyeu.com/call

Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:
https://tombilyeu.com/
**********************************************************************
If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.
**********************************************************************
FOLLOW TOM:
Instagram: https://www.instagram.com/tombilyeu/
Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en
Twitter: https://twitter.com/tombilyeu
YouTube: https://www.youtube.com/@TomBilyeu

Quince: Free shipping and 365-day returns at https://quince.com/impactpod
Whatnot: Download the Whatnot app today and get free shipping on your first order.
Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.
ATT Business: Switch to AT&T Business at business.att.com
Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order
Netsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.
Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark!

The team digs into Bernie Sanders going on CNN to embrace what's being called a "red wave"—the surging energy of the DSA within the Democratic Party—and his refusal to disavow Hasan Piker even when pressed on Piker's most controversial statements. What follows is a genuinely two-sided, and at times heated, debate. On one side: the argument that this is a pivotal cultural moment, that "politics is downstream of culture," and that figures like Mamdani and Hasan Piker represent a one-two punch pushing DSA ideas into the mainstream—ideas the host warns point toward an ideology with a catastrophic historical track record, making him feel morally obligated to sound the alarm even when he admits it's bad for business. On the other side: a sharp policy-focused rebuttal arguing the show spends too much time dissecting 30-second streamer clips and not enough on actual bills, appropriations, and the money-in-politics mechanisms that drive real outcomes—"more C-SPAN, less Twitch stream recaps." The conversation traces historical parallels (the Tea Party, Occupy Wall Street, Bolsheviks vs. Mensheviks), debates whether the DSA is unintentionally clearing a path for a charismatic strongman, and wrestles with how the left should handle provocative voices. It also gets personal and philosophical: the "parchment guarantee" idea that a constitution only matters if the culture enforces it, a reflection on youth as an energy that rightly shakes up an ossified society, and a candid riff on competing cultural metaphors—jihad-as-waging-war versus the Christian "spark of the divine in the individual"—and the tension between drawing a hard line and being careful with war rhetoric in a volatile moment. A substantive, disagreement-driven look at where American politics may be heading.
Tom digs into Mayor Mamdani colliding with a basic truth of policy: create an incentive structure, and people will follow it—sometimes by abusing it. Joining Tom is Drew, who pushes back and adds important nuance throughout. The flashpoint is Mamdani's city-owned grocery stores: with goods priced well below market, Tom argues there's an obvious incentive to buy cheap and resell at market value, which is why Mamdani may need some form of ID to wall off who can shop—running headlong into the same "require ID" logic the left resists elsewhere. Drew makes the key distinction that a grocery ID (a driver's license) is not the citizenship-level verification the SAVE Act demands (a passport), and Tom agrees that a sensible ID standard is reasonable. From there, Tom lays out his broader, and more contested, thesis about incentive structures, voter-ID politics, and how DSA-aligned cities increasingly attach the phrase "regardless of immigration status" to taxpayer-funded programs—from grocery initiatives to childcare to housing and legal-support hotlines. He argues this is happening beyond New York, in cities like Minneapolis and Seattle, and challenges the claim that undocumented immigrants are net contributors to social systems, drawing a parallel to immigration debates in Nordic countries. Tom's bottom line: you can't simultaneously say government spends too much, oppose borders and ID requirements, and promise to care for everyone who comes—mathematically it doesn't work, and if you genuinely want to help people, you have to care for a finite number well rather than incentivizing unlimited inflow. He also breaks down why Mamdani's budget gap is likely to keep growing.
Tom untangles one of the most consequential and least understood stories in global finance: the United States buying yen for the first time since 1998. Joining Tom is the team as he explains why this isn't a sign of strength but an emergency effort to stop a total collapse of the Japanese economy—one so dangerous because the yen carry trade has locked the US and Japan tightly together for decades. Tom speed-runs the history: Japan's 1989 real estate bubble, thirty years of ultra-low rates, and how cheap Japanese money flooded the world as liquidity that America benefited from enormously. He walks through the trap Japan is now in—raising rates to fight post-Covid inflation triggers a carry-trade unwind, but every intervention to slow it signals weakness and sends money fleeing. He breaks down the concept of risk-adjusted return, why Japan has nothing like the AI trade to justify its risk, the Bessent Camp David notepad photo he believes was a deliberate signal (and the roughly $1 trillion it briefly wiped from US markets), and why the New York Fed selling euros for yen further strains an already-tense relationship with Europe. Tom's blunt diagnosis: propping up the yen is Advil for a brain tumor; the only real cure is a painful decade of killing off zombie companies and getting Japan innovating and growing again. He then connects it to the bigger board—Argentina and Milei as a success story the US wants to use to pull South America back toward capitalism and away from China's debt-trap Belt and Road, and his view that America is becoming a regional rather than global hegemon. Throughout, Tom stresses intellectual honesty about how Covid-era authoritarian decisions helped break the system, and reminds viewers to treat official reassurances as propaganda.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What's up, guys? Today I'm diving deep with one of the most legendary minds in finance—Warren Buffett’s impact on modern investing and what his latest moves say about where the economy is headed. We're breaking down why the Oracle of Omaha is dumping stocks, stacking up record cash, and signaling alarm bells that every investor needs to hear. If you’ve ever wanted to understand how economic forces shape your portfolio, what metrics like the CAPE ratio and the Buffett Indicator actually mean, and how to avoid being blindsided when the next crash hits—this episode is absolutely vital.
You’re going to walk away with a practical understanding of the same strategies the world’s sharpest investors use to navigate market bubbles, protect themselves from massive downturns, and thrive even when things look bleak. This is about shutting out the hype and seeing the real signals—so you can make the smartest moves for your future. If this episode hits you, drop us a review and help us keep bringing you the truth that moves you forward.
I’m Tom Bilyeu, and welcome to Impact Theory.

Special Thanks to the Infographics Show. Check out their page: https://youtu.be/BnSTr7_NwtU?si=8RBu2wgZ-D-7fdb3

Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=you
tube&utm_medium=social
Check us out wherever you get your podcasts:
Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fd
Apple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648
Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)
Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)
Check out our Video game - Project Kyzen: (https://projectkyzen.io/)
Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)
Link to IT discord: https://discord.gg/TZKJ2etPbT
Tom's Favorite Things List: https://amzn.to/41Ftt7e

For Business inquiries: connect@impacttheory.com

FOLLOW TOM:
Instagram: https://www.instagram.com/tombilyeu/
Twitter: https://twitter.com/tombilyeu
YouTube: https://www.youtube.com/@TomBilyeu

Quince: Free shipping and 365-day returns at https://quince.com/impactpod
Whatnot: Download the Whatnot app today and get free shipping on your first order.
Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.
ATT Business: Switch to AT&T Business at business.att.com
Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order
Netsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.
Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark!
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALE
Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social
Welcome to another jam-packed episode of the Tom Bilyeu Show Live, where Tom dives into the critical headlines and deep-cut topics shaping our world. In this episode, Tom unpacks Abdul El-Sayed’s razor-thin Michigan Senate primary victory and what it signals about the rising influence of the Democratic Socialists of America. He dissects President Trump’s new executive orders targeting birth tourism and explores the true impact of these policy shifts.
Tom takes on economic narratives with a fact-based breakdown of Scott Bessent’s claims about wage growth, separating the reality from political spin. The episode also features a thorough analysis of Tucker Carlson’s controversial 10-point plan, discussions of the precarious alliance between the US, Israel, and the GCC in the volatile Middle East, and a fascinating look at how elite overproduction is transforming the American workforce and fueling political discontent.
Plus, Tom and the crew dig into the wild advancements in AI—covering everything from telepathy startups to the dark side of AI agent collaboration—and share actionable insights for future-proofing your skills. Get ready for a lively, insightful ride through politics, economics, technology, and culture, all backed by Tom’s signature no-nonsense approach.
Sponsors:
Quince: Free shipping and 365-day returns at https://quince.com/impactpod
Whatnot: Download the Whatnot app today and get free shipping on your first order.
Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.
ATT Business: Switch to AT&T Business at business.att.com
Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order
Netsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.
Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark!
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome back to Impact Theory, where we dive deep into the minds shaping the future. In this episode, host Tom Bilyeu sits down with renowned economist Steve Keen, known for his heterodox and often controversial takes on modern economics. Together, they explore the fragile state of Western economies, the rise of China as a manufacturing powerhouse, and the fundamental forces behind economic booms and busts.
Steve Keen challenges mainstream economic thought, dissecting the role of private debt, the dangers of an over-financialized system, and why traditional models often miss the mark when it comes to predicting crises like the 2008 financial meltdown. The conversation also delves into Marx’s misunderstood contributions, the necessity of balancing capitalism with strategic government intervention, and why the current AI investment frenzy might be setting the stage for the next big downturn.
If you’ve ever wondered why wages feel stagnant, how real value is created, or what lessons America can glean from China’s blend of pragmatism and state-led growth, this is an episode you don’t want to miss. Get ready for an unfiltered look at the global economy and what needs to change to build a more resilient future.

Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=you
tube&utm_medium=social
Check us out wherever you get your podcasts:
Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fd
Apple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648
Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)
Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)
Check out our Video game - Project Kyzen: (https://projectkyzen.io/)
Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)
Link to IT discord: https://discord.gg/TZKJ2etPbT
Tom's Favorite Things List: https://amzn.to/41Ftt7e

For Business inquiries: connect@impacttheory.com

FOLLOW TOM:
Instagram: https://www.instagram.com/tombilyeu/
Twitter: https://twitter.com/tombilyeu
YouTube: https://www.youtube.com/@TomBilyeu

Quince: Free shipping and 365-day returns at https://quince.com/impactpod
Whatnot: Download the Whatnot app today and get free shipping on your first order.
Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.
ATT Business: Switch to AT&T Business at business.att.com
Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order
Netsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.
Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark!

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALE
Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social
The conversation focused on current global political and economic tensions, tackling issues from leaked US battle plans regarding Iran to the complex web of international negotiations and shifting alliances in the Middle East.
A key theme that emerged was the growing perception of weakened American influence, particularly as repeated threats and retreats reveal cracks in both military capability and diplomatic strategy. The discussion explored the intersection of military strategy, economic self-interest, and cultural frames of reference—highlighting how divergent worldviews between the US and its adversaries complicate conflict resolution.
Several points were raised, including the economic consequences of entangled US-Japan financial relations, rising domestic political polarization, and the ever-shifting narratives used to justify foreign policy decisions.
The episode also dove into domestic controversies, such as government spending, the challenges of enforcing sensible identification requirements against political hypocrisy, and the impact of social movements on mainstream politics. Tune in for a deep dive into how cultural battles, propaganda, and policy decisions shape the world stage—and what it all means for the future of American power.
Sponsors:
Quince: Free shipping and 365-day returns at https://quince.com/impactpod
Whatnot: Download the Whatnot app today and get free shipping on your first order.
Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.
ATT Business: Switch to AT&T Business at business.att.com
Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order
Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact
Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark!

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.