PBD Podcast #732 Summary

Episode Title: Chinese Billionaire Birth Tourism Surges As U.S. Faces Security Threats
Date: February 4, 2026
Host: Patrick Bet-David ("Pat" or "PBD")
Panelists: Tom Ellsworth (Tom), Jeff Snyder (Jeff), Brandon ("Brandon")
Notable Guests: n/a

Overview

This episode features a lively roundtable discussion among Patrick Bet-David and his co-hosts, centering on several key national and global issues:

• The surge of Chinese billionaire “birth tourism” and concerns about the security threat it presents
• Major shifts and controversies in the entertainment and media industry (Netflix-Warner merger, Disney CEO succession)
• The economic landscape: manufacturing, tariffs, corporate migration to Florida, housing, crypto, and more
• New government moves on Venezuela oil production
• A recurring theme of skepticism regarding both government and corporate power, particularly regarding data, surveillance, and policy motivations

The panel’s approach balances skepticism, humor, and business-savvy realism, using a conversational, sometimes irreverent tone.

Key Discussion Points & Insights

1. Netflix–Warner Brothers Merger Hearing & Media Bias

[10:45–27:16]

• The episode opens in earnest with in-depth reaction to Senate hearings on Netflix’s $72bn proposed acquisition of Warner Bros/HBO Max.
• Senator Josh Hawley confronts Netflix over children’s content and its inclusion of LGBTQ/transgender themes, alleging “almost half” is “highly sexualized” and ideological ([10:00–11:38]).
  • Jeff Snyder (Netflix rep): “Netflix has no political agenda of any kind.” ([10:50])
  • Panel highlights Netflix's deflection (“wide variety of tastes”) and the lack of direct answers.
• Concerns over merger:
  • Could result in a “streaming giant” with 30%+ market share—potential monopoly/anti-competitive concerns ([17:00]).
  • Issues of "advocacy by default"—the cultural and political bias that emerges from showrunner, producer, and funding choices, even without explicit stated agendas.
  • Netflix’s defense: “If we try to promote propaganda...we fail” ([12:41]).
• Stat cited: 41% of Netflix G & TV-Y7 children’s programming contains LGBTQ elements ([18:36], referencing CWA report).
• Market cap discussion: Netflix stock has suffered, possibly reflecting merger anxiety ([24:00]).
• Panel divided on whether the merger will go through. FTC (Federal Trade Commission) approval is key ([21:03], [22:00]).
  • Jeff: “The merger is going to happen.”
  • Brandon: “I don’t think it’s as certain.”
• Quote (Jeff): “Hollywood is notoriously left-leaning…they enabled all of these left-leaning producers…now they’re stuck.” ([19:34])
• Brandon and Tom discuss potential alternative buyers like Paramount (Ellison family), and whether anyone can “neutralize” bias at CNN and other outlets.

2. Disney’s Leadership Transition

[27:16–39:48]

• Bob Iger to be replaced by Josh D’Amaro (former theme parks chief).
  • D’Amaro: “I’m a risk taker and that’s been true my whole life.” ([29:15])
• Panel skepticism:
  • Tom: “Here we go again… at a time when streaming is up there… don’t you think you’d want a forward strategist in content?”
  • Brandon: Describes Disney as “California—they’ve literally done everything possible to make people hate them and make themselves a bad brand over the last five or ten years.” ([36:55])
  • Jeff: “These are the moves of an industry that’s in the death throes.” ([34:01])
• Consensus: Disney’s board appears insular, unwilling to seek true innovation; comparison to cautious, continuity-based risk aversion. Panel calls for “forward-thinking” and “pro-family” voices to unlock Disney’s massive latent brand value.

3. Chinese Birth Tourism & National Security

[45:59–54:09]

• Pat: Highlights surge in ultra-wealthy Chinese using "birth tourism" and surrogacy to create U.S. citizen children, seen as a national security vulnerability.
  • 750k to 1.5 million U.S.-born children taken back to China in the past 15 years ([46:08]).
  • Quote: “Chinese elites have weaponized the practice…raising a generation of legal citizens with no loyalty to the U.S.” – Peter Schweitzer ([46:21])
• Tom: “It’s another example of the Chinese thinking long game… a way to create a conveyor system to put their people in power…” ([46:21])
• Jeff: “They bought up farmland near U.S. bases…have bio labs in the U.S.…Manchurian candidates lined up.” ([47:26])
• Discussion of possible legal and policy responses:
  • Tougher visa screening, prosecution of agencies/hotels ([51:01]).
  • The constitutional challenge (“birthright citizenship”) means changing the 14th Amendment would be extremely hard ([51:45]).
  • Panel agrees: U.S. intelligence services have likely been asleep, and political will is lacking ([53:03]).
• Brandon: “The problem is half of our government wants things that are destructive for the country.” ([53:03])
• General tone: Concerned, bordering on alarmist, about legal loopholes and long-term political infiltration.

4. Domestic Security, Data, and Palantir

[54:20–65:19]

• Palantir’s role in immigration enforcement and surveillance debated; CEO Alex Karp claims activists should want “more Palantir” in government ([55:48]).
• Brandon is deeply skeptical: “I don’t trust Alex Karp. I don’t trust half the CIA. I don’t trust half of Congress.” ([57:09])
• Tom: Draws parallel to post-9/11 Patriot Act—using fear to get Americans to give up privacy: “It is a playbook that the government’s been running for a long time.” ([58:59])
• Jeff: “It starts out pro-U.S., and next thing you know, it’s being used against us.” ([64:10])

5. Voter ID Laws in the U.S.

[65:19–73:53]

• Discussion of new poll showing overwhelming bipartisan and multi-racial support for photo ID to vote ([66:09]).
  • Pat: “Voter ID is not controversial in this country.”
  • Critics frame voter ID laws as “Jim Crow 2.0.”
• Panel unanimously supports voter ID. They argue only political interests, not real obstacles, drive opposition ([67:45]).
• Data: Fifteen states allow voting without ID or with simple attestation ([71:47]).
• Tom: “The voters are reasonable. This is the DNC doing it.” ([73:30])
• Pat ties public opinion to potential impact on elections, predicting chaos for Democrats if voter ID laws pass.

6. U.S. Manufacturing Retreat & Tariffs Debate

[75:16–83:57]

• Wall Street Journal reports U.S. manufacturing jobs are declining despite Trump/Biden trade/tariff moves ([75:16]).
• Panel disputes the narrative:
  • Most job losses pertain to the Biden era.
  • Larger macroeconomic trends at play (pandemic aftermath, automation).
• Brandon: Argues tariffs protect national security by preserving critical industries and that “the president needs to have that power” ([78:35], [83:25]).
• Pat: Laments that if only the U.S. president’s tariff power is curtailed (via Supreme Court/Congress intervention), America can’t fight on a level economic playing field.

7. U.N. Funding & U.S. Leverage

[85:42–89:43]

• U.S. pressure on the U.N. over unpaid dues, internal accounting, and “laundering” concerns ([85:42]).
• Tom: “The world has been using…the United States as its budget bitch for the UN.” ([87:11])
• Panel frames U.N. and WHO as U.S.-funded bodies acting counter to U.S. interests.
• General theme: Strong U.S. leverage (“carrot and stick”) needed.

8. Florida as the New Business Capital

[93:33–100:38]

• Ken Griffin and Steven Ross launch a $10 million campaign pitching South Florida as “the only place a founder can scale.”
  • Pat: Details Valuetainment’s growth since moving to Florida—from 8 to 164 employees, with plans for more.
  • Tom: Recalls U-Haul migration data and past advertising campaigns by Texas; touts Florida’s pro-business momentum.
  • Brandon: “Its best days are ahead of it… it’s infectious. You could really feel and see it… probably going to be the financial center and real engine of the country…” ([100:02])
  • Discussion: Companies relocating to Florida (including quantum computing startup D-Wave).

9. Housing Market and Trump’s Position

[100:38–108:18]

• Trump expresses a desire to “keep [housing] prices up… not going to destroy the value of their homes.” ([101:09])
  • Brandon: Points out the conflict of interest; most of Trump’s wealth is in real estate. “That’s a fundamental flaw with society… because of artificially low interest rates… people treat their house like their biggest asset. But that shouldn’t be the case.” ([101:37])
  • Pat: Stresses that those who can afford to buy should think long-term and ignore waiting/hoping for a crash. “If you’re going to be living there for five to ten years… I would buy.” ([104:40])
  • Tom: Emphasizes need for supply, relaxed permitting, and high-pay jobs to maintain housing market health ([108:18]).

10. Crypto Holdings Collapse & The Hoarding Model

[112:54–121:41]

• Companies that amassed (and leveraged against) large crypto holdings are under pressure as prices drop.
  • Brandon: “Crypto’s not a hedge against inflation—it’s as volatile as the Nasdaq… this exposes the narrative…” ([112:54])
  • Jeff: “Crypto is not a hedge against anything, really. It is—it’s a risk asset…”
  • Tom: Draws 2008 parallel—if bitcoin prices fall far enough, leveraged treasury companies “are at risk of being wiped out.”
  • Pat: Gives long-term investing advice; buy/hold strategies best suit long-term goals. “Long-term thinking is an edge that you have.” ([124:47])

11. U.S. Easing Sanctions on Venezuelan Oil

[126:15–132:14]

• License will soon allow U.S. companies to pump Venezuelan oil, reflecting the Trump administration's confidence in regime change and desire to reboot the energy sector.
  • Tom: Explains the technical/practical rationale (Venezuelan heavy crude, Houston refiners), and hints at “drill, baby, drill” strategy for energy independence ([127:50]).
  • Jeff: Sees it as both a tactical and strategic win for the U.S.—helping Venezuela, reducing prices, and setting a positive example for Cuba/other targets ([129:59]).

Notable Quotes & Memorable Moments

• Netflix hearing:

  • “Netflix has no political agenda of any kind.” – Jeff Snyder ([10:50])
  • “We deliver entertainment to consumers. Our consumers see our business… about 40% conservative, about 40% liberal…” – Netflix rep ([12:58])
  • “Hollywood is notoriously left-leaning, let’s be honest here, it’s incredibly left-leaning.” – Jeff ([19:34])

• Disney:

  • “These are the moves of an industry that's in the death throes. The entertainment industry as we knew it is dead.” – Jeff ([34:01])
  • “I’m a risk taker and that’s been true my whole life.” – Josh D’Amaro ([29:15])
  • “When was the last time Disney did something exciting?” – Brandon ([36:55])

• Chinese birth tourism:

  • “Chinese elites have weaponized the practice, raising a generation of legal citizens with no loyalty to the U.S.” – Peter Schweitzer, read by Pat ([46:21])
  • “It's another example of the Chinese think[ing] long game.” – Tom ([46:21])

• Palantir & Surveillance:

  • “I think we have more than enough technology and we've given up more than enough rights and freedom with the NSA… No, I don’t trust Alex Karp.” – Brandon ([57:09])
  • “It is a playbook that the government's been running for a long time.” – Tom ([58:59])

• Voter ID:

  • “Voter ID is not controversial in this country.” – Pat ([66:09])
  • “Nobody, nobody would actually object… We all have IDs. It’s not really hard to get.” – Jeff ([67:45])

• Manufacturing & tariffs:

  • “This is not about tariffs. This is about executive power and about the president’s pen.” – Tom ([83:25])
  • “If you take this authority away, that’s another card he loses.” – Pat ([83:25])

• Florida’s growth:

  • “Its best days are ahead of it… it’s infectious.” – Brandon ([100:02])

• Crypto:

  • “Crypto is not a hedge against anything, really. It is—it’s a risk asset.” – Jeff ([114:26])
  • “If you’re a long-term thinker… lock it up.” – Pat ([121:41])

Recommended Listening (Timestamps)

• Netflix/Warner Senate hearing & content controversy: [10:45–27:16]
• Disney CEO transition & streaming woes: [27:16–39:48]
• Chinese birth tourism & national security fears: [45:59–54:09]
• Palantir, data surveillance & oversight: [54:20–65:19]
• Massive bipartisan Voter ID support & resistance: [65:19–73:53]
• U.S. manufacturing decline, tariffs, and executive power: [75:16–83:57]
• Florida as corporate hub & migration: [93:33–100:38]
• Housing, market realities, and asset inflation: [100:38–108:18]
• Crypto strategy collapse: [112:54–121:41]
• Venezuela oil policy shift: [126:15–132:14]

Conclusion

The PBD team delivers a fast-paced, wide-ranging, and unflinchingly direct dialogue on urgent business, political, and cultural challenges. Their skepticism of both government and corporate leadership pairs with genuine business insight and concern for American competitiveness and values. For listeners wanting both headline commentary and in-the-weeds analysis, this episode is a rewarding and thought-provoking ride.