Will Kabeck (18:15)
All right, that is it for what the right and left are saying. Hi everybody, my name is Will Kabeck. I'm one of Tangle's editors and I'm going to be reading our take today. So a quick note on that Today's take was authored by Tangle's whole editorial team, and that has a bit to do with an announcement we'll be sharing later today. We're going to put it out at around 3pm Eastern as an email. That'll go to your inbox if you're a newsletter subscriber and if you're a podcast listener, you can just look for it to drop around the same time, 3pm Eastern, wherever you get your podcasts. For now, though, let's jump into our take on Trump's inauguration. Since we're covering President Trump's inauguration as a staff, we thought it would make the most sense to share our thoughts with 19 bullet points. Number one, the inauguration speech was for the most part, like any other. It had some highs and lows, reiterated some campaign goals, and will be probably forgotten in a week. If any part is going to endure, it will probably be Trump's opening line about the beginning of the Golden Age of America. But NBC analyzed the history of inaugural addresses and found that presidents have begun speaking much more simply Post World War II, with a heightened focus on unity. And it's fair to say that Trump's address fits within this tradition. Number two, Trump hit all the right notes when he focused on collective prosperity and his desire for a thrilling new era of national success. Those are common themes in inaugural speeches, but after years of listening to Trump mostly talk about everything he thinks is wrong with the country, it was refreshing to hear a decidedly upbeat tone at the start of his address. At his best, Trump inspires real national pride in this country's potential, and his focus on our capabilities was at times quite stirring. Number three, the lowest points of Trump's speech were his insistence that he'll use his power to make some political proclamations that won't really do any material good for anyone, like renaming the Gulf of Mexico the Gulf of America and making Mount Denali Mount McKinley again. What does this accomplish other than provocation? Number four all in all, Trump speaking from a teleprompter remains a lot less authentic than Trump off script. During the speech, Trump delivered lines about America inspiring the awe and admiration of the entire world, or described how we will dream boldly and nothing will stand in our way. And these lines felt like empty rhetoric. As many commentators noted, the real Trump seemed to appear after the inauguration when he addressed an audience of supporters in the events overflow room and sounded much more like he did on the campaign trail. Expect to see much more of this latter version over the next four years. And there was one great, lighthearted example from the Oval Office on Monday, when he was asked about whether Biden left him a letter as his tradition for presidents. And he discovered in the moment that Biden had left him a letter that he wasn't aware of. We linked to that in the newsletter. Recommend checking that out if you're interested. Number five to that end, you can also expect a very different relationship between the president and the press compared to the last administration and even Trump's first administration. Back in July of 2024, Axios reported that Biden had engaged in fewer press conferences and media interviews than any of the last seven presidents to that point in their terms, a trend that continued throughout the remainder of his presidency. Yesterday, though, Trump invited the press into the Oval Office and took questions for 45 minutes, largely off the cuff, while he signed executive orders. And it's true he sidestepped plenty of those questions. I'm not saying the answers were perfect or that it was a glowing representation of how the president and the press should interact, but it was still a refreshing exercise after four years of, frankly, highly choreographed press events. Number six it was somewhat surreal to see Trump speaking to applause within the Capitol rotunda, four years removed from rioters storming the building after Trump refused to concede the election. Remember where we were at that time, still mired in the pandemic and steeped in political tension. This political moment feels entirely different. Back in 2021, Isaac wrote that the country felt like it had been at, quote, a breaking point at the end of Trump's first term, expressing optimism that Biden could relieve some of that pressure. Today, the country feels more like it's at a hinge point amid shifting political allegiances and global backlash against incumbent leaders. Number seven. That said, we should never take for granted how unique it is to see a civilization, even friendly, transition of power with all of our leaders coming together to honor American democracy. In former Vice President Harris's concession speech on November6, she committed to working with Trump's team to facilitate an orderly and peaceful transition of power. Aside from some vague grumbling from Trump earlier this month, it's clear that Harris and Biden fulfilled that promise, and they deserve further credit for earnestly partaking in the inaugural ceremonies yesterday. Number eight, the same cannot be said for Biden's final Access presidents, which we'll be writing about tomorrow. Number nine, we're starting to get a sense of how President Trump is going to prioritize his campaign goals. Ahead of the inauguration, Trump circulated a memo among congressional Republicans outlining his plans after taking the oath of office. At the very top, under the heading, quote, make America safe again, were a series of promises to address and secure the border, many of which he already acted on yesterday. Immigration and Customs Enforcement is also reportedly planning to begin mass deportations today. Number 10, putting aside whether you think the government should deport unauthorized migrants who have been found guilty of a crime, deportations on the scale of hundreds of thousands of people or even more is frankly a Herculean task involving the military or ice. At that scale, without ever overstepping the line and making some terrible mistakes will be basically impossible. Number 11. Trump has already started to walk back some of his campaign's lofty promises. The pledge to levy tariffs on all Chinese goods is now becoming an investigation into whether China upheld its end of some trade deals. The vow to end the war in Ukraine before Trump took his oath of office is turning into a hope that it'll end before six months. Though to be fair, Israel and Hamas did agree to a ceasefire before he took office, and that is a significant foreign policy win. Number 12. One of the things Trump mentioned in his speech was the crisis of trust in government institutions. We ended last week's Friday edition on the metrics to watch over the next four years by saying that we'll measure whether Trump can really make America great again by tracking the confidence Americans have in the federal government. So we'll interpret Trump's statement in his speech as him agreeing with us. Number 13. Let's zoom out on some fundamentals as Trump enters the Oval Office for his second term, starting with this Trump is 78 years old. That's the oldest any president has been upon entering office, a record previously held by Biden. That said, age alone doesn't tell us much about either man's fitness. And as has been the case for years now, Trump passes the basic eye test much better than his predecessor. Also, age isn't everything. Some people can be sharp and energetic well into their 80s or beyond, but being president takes its toll. And if you're someone who is concerned about Biden's age at the start of his term, you should also be watchful of signs of aging as Trump starts his second 14 the market loved Trump in 2016, and it loves him again in 2024 by about the same amount. In the time between election night and Inauguration day, the dollar rallied 5% in both 2016 and 2014. Any economist would say that investors like what Trump's policies indicate for the success of American companies, but the amounts being this similar, we're really not sure what to make of that. Number 15 Trump's cozy relationship with big tech is a major change from four years ago. We can see this playing out in three ways, all of which are ringing internal alarms about the coordination of government and free market power. Number 16 First Tech CEOs it was jarring to see that CEOs Mark Zuckerberg of Meta, Sundar Pichai of Google, Xu qi Chu of TikTok, and Jeff Bezos, formerly of Amazon, joining Elon Musk of x, Tesla and SpaceX in positions of prominence at the presidential inauguration, intermingling with the first and second families, past presidents, members of Congress and Supreme Court justices. How can you see that and not worry that a few immensely wealthy people are buying their way into Trump's inner circle to advocate for their own interests. Number 17 second cryptocurrency. The technology is polarizing even among Tangle's staff. But however bullish you are on the future of decentralized currencies, it's indisputable that the prevalence of meme coins that pump and dump their values is a huge threat to to their future. Now the president is running his own meme coin Trump to a fluctuating valuation in the tens of billions, which is a concerning display of both Trump's and crypto's worst tendencies towards cheap but also lucrative cash grabs. Number 18 third TikTok over the weekend, the social media app went dark, but with a message that President Trump could bring it back. Since then, Trump, who once campaigned fiercely against TikTok, has said he'd be open to splitting control of the app between its Chinese parent company ByteDance and the US government. Then TikTok went back online with a message thanking Trump for saving it for those keeping score. That means that the president has the CEOs of the companies that own the number one, number two and number four largest social media apps sitting front row at his inauguration, while number five is also there and also putting out PSAs thanking him. And the owner of number 15, that's Musk and X is working for his administration, number 19. It's easy to see politicians as celebrities representing some mass or undefinable ideal that we can resonate with. It's easy to think that if the person we voted for wins, we win, that we're sharing in their success. But that isn't the reality. Politicians are people fighting for the right to become our employees, and people who voted for them don't win when they win an election, just like the people who voted for someone else don't lose. We only win as a country if they succeed when they're in office. So as Donald Trump begins his last presidential term, everyone here at Tangle is going to be watching him closely and scrutinizing him carefully because he works for us and he works for you. We've got to make sure he's doing his job even while hoping he makes good on his promises to win for all of us.