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4/23/25: Tesla collapsing, Trump terrified of Epstein files - The David Pakman Show | Wave AI Podcast Notes

4/23/25: Tesla collapsing, Trump terrified of Epstein files

Wed Apr 23 2025

-- On the Show: -- Ned Lamont, Connecticut Governor, joins David to discuss the disastrous Trump tariffs, the trade war, and what states can do to fight back against the economic policy of the Trump administration -- Tesla records a 71% decline in...

Summary

Podcast Summary: The David Pakman Show – April 23, 2025

Title: Tesla Collapsing, Trump Terrified of Epstein Files
Host: David Pakman
Release Date: April 23, 2025

I. Tesla's Financial Collapse

David Pakman opens the episode by discussing the alarming financial downturn of Tesla in Q1 2025.

Net Income Drop: Tesla's net income plummeted by 71% ([00:00]), marking its worst quarter in three years.
Elon Musk’s Strategic Missteps: Pakman criticizes Elon Musk for diverting resources to the Cybertruck, describing its design as juvenile:

“...the cybertruck, which looks sort of like what a 10 year old would design in Minecraft.” ([00:05])
Revenue Shortfalls: Tesla missed revenue expectations by nearly $2 billion, barely turning a profit thanks to the sale of nearly $600 million in regulatory credits. Without these credits, operating income stands at a mere $399 million:

“...Tesla only made any money because it sold government favors.” ([00:15])
Declining Vehicle Deliveries: Vehicle deliveries are down 13%, further exacerbating Tesla's struggles.
Impact of Elon Musk's Actions: Pakman attributes Tesla's decline to Musk's involvement with Donald Trump's Department of Government Efficiency and Musk's controversial public behavior, including offensive memes and political alliances:

“...a brand gets hijacked by a megalomaniac CEO with a persecution complex...” ([04:45])
Consumer Reaction: A movement dubbed "Tesla Takedown" is gaining traction, with former fans and progressives boycotting Tesla, leading to a significant drop in the used Tesla market.

II. Secretary of Defense Pete Hegseth’s Turmoil

Pakman shifts focus to Secretary of Defense Pete Hegseth, highlighting concerns over his performance and possible alcohol-related issues.

Public Appearance Concerns: Hegseth appeared disheveled with unshaven sideburns ([06:09]), raising doubts about his sobriety and professionalism.
Inconsistent Statements: During confirmation, Hegseth vowed to abstain from alcohol, but his recent behavior contradicts this commitment:

“...I will speak out against the brand or I will peacefully protest at a Tesla showroom or I will not buy a vehicle.” ([04:45])
Leaked Information and Resignation Speculation: Multiple leaks and mishandled information suggest Hegseth is underperforming. Pakman anticipates his imminent resignation to prevent further distraction:

“...this is not the guy you want in charge of the Pentagon...” ([08:52])

III. Trump’s Reluctance to Release Epstein Files

Pakman addresses the ongoing speculation surrounding the release of Jeffrey Epstein's files by the Trump administration.

Trump’s Evasive Responses: When questioned about the Epstein files, Trump evades providing a clear timeline or commitment:

“You’re never going to see those files under Donald Trump.” ([14:25])
Contradictory Statements: In previous interviews, Trump expressed tentative willingness to declassify documents but ultimately downplays the relevance and necessity:

“I think that less so because you don't know...” ([15:41])
Skepticism About Transparency: Pakman underscores Trump’s reluctance as a strategic move to avoid implicating himself in Epstein-related controversies.

IV. Trump’s Trade War with China and Market Reactions

The discussion turns to Trump's fluctuating stance on tariffs and its impact on the U.S. economy.

Tariff Adjustments: Trump hints at reducing previously high tariffs on China, acknowledging China's effective countermeasures:

“We’re not really going to keep these high tariffs on China. Actually... it's not going to happen.” ([16:39])
Stock Market Surge: Following Trump's concession, the Dow Jones Industrial Average surged by over 1,000 points, reflecting investor relief:

“...The Dow up a thousand points.” ([17:32])
Inaccurate Claims: Trump makes dubious assertions about economic improvements, such as claiming a 94% drop in egg prices:

“*A dozen eggs is now $0.30. Prices are down 94%. *” ([18:30])
Policy Reversals: Trump's backtracking on his earlier aggressive trade policies is seen as an attempt to stabilize the stock market and placate investors.

V. White House Press Briefings Featuring Influencers

Pakman critiques the White House's recent strategy of including pro-Trump influencers, like Tim Pool, in press briefings.

Lack of Objectivity: Influencers like Tim Pool pose questions that are biased and lack journalistic integrity:

“This is not a real question. This is what you say to suck up to someone...” ([23:38])
Caroline Levitt’s Defense: Press secretary Caroline Levitt dismisses concerns by labeling the influencers as "unbiased," despite their clear partiality:

“We welcome unbiased journalists who really care about the truth and the facts...” ([24:12])
Pakman’s Critique: He argues that such tactics undermine genuine journalism and transparency in White House communications.

VI. Interview with Governor Ned Lamont of Connecticut

Governor Ned Lamont discusses the state-level impacts of federal policies, especially tariffs and budget cuts.

Impact of Tariffs on Consumers and Businesses: Lamont highlights how tariffs directly affect everyday products, citing pineapples priced 20% higher due to import taxes:

“...pineapples imported from Costa Rica are going to cost 20% more...” ([35:23])
Federal Funding Shortfalls: With a significant portion of Connecticut’s budget reliant on federal funding, Lamont expresses concerns over potential cuts:

“There's no way that we, the state taxpayers of the state, can make up for that shortfall...” ([37:15])
Immigration Policies and Sanctuary Status: Lamont defends Connecticut's approach to immigration, focusing on removing only dangerous criminals and maintaining safe environments for vulnerable populations:

“We are very strict in terms of getting anybody dangerous off the street...” ([39:08])
Opposition to Federal Pressure on DEI Programs: Lamont criticizes the Trump administration's attempts to dismantle Diversity, Equity, and Inclusion (DEI) initiatives, emphasizing their importance in education and community building:

“...we are honoring federal law as it goes to title six...” ([40:27])
Infrastructure Improvements: Highlighting Connecticut's infrastructure projects, Lamont illustrates ongoing improvements aimed at enhancing commuter experiences and environmental benefits:

“We are speeding up rail, we're speeding up roads...” ([45:18])
Political Climate and Voter Perception: Addressing national discontent, Lamont underscores the Democrats' commitment to tangible benefits over divisive policies:

“He's fighting for they them. We're fighting for you.” ([47:37])
Strategic Messaging: Lamont emphasizes the need for Democrats to clearly communicate their positive impacts to voters, contrasting it with Trump's policies aimed at the wealthy and undermining essential services.

VII. Trump Administration’s Autism Registry and RFK Jr.’s Misconceptions

Pakman delves into the controversial move by the Trump administration to establish a government-run autism registry, critiquing Robert F. Kennedy Jr.’s (RFK Jr.) stance.

Creation of an Autism Registry: The administration plans to compile extensive data on autistic individuals using private medical records, wearable devices, and more, under the guise of medical research:

“They are going to pull genomics records, they're going to pull Medicaid data...” ([55:00])
RFK Jr.’s Misunderstandings: RFK Jr. inaccurately claims that severe autism cases do not exist among adults, demonstrating a lack of understanding of the condition:

“Anybody with full blown autism... I’ve never seen one.” ([56:06])
Debunked Vaccine Links: Pakman highlights the longstanding discrediting of the vaccine-autism connection, critiquing RFK Jr.’s perpetuation of these myths:

“...the vaccine autism link has been debunked by decades of studies...” ([60:50])
Implications of the Registry: Pakman warns that this registry sets a dangerous precedent for medical surveillance and potential targeting of other conditions, exacerbating mistrust in public health initiatives:

“This is of course medical surveillance of a vulnerable population...” ([55:00])
Lack of Scientific Basis: The discussion underscores the flawed logic and harmful implications of attributing autism prevalence to vaccines, emphasizing the importance of evidence-based approaches.

Conclusion

In this episode, David Pakman provides a critical analysis of several pressing issues:

Tesla's Decline: Highlighting mismanagement and the adverse impact of Elon Musk's controversial actions on Tesla's financial health.
Defense Department Instability: Examining Secretary Pete Hegseth’s potential resignation amidst performance and personal conduct concerns.
Political Maneuvering: Scrutinizing Trump’s evasive strategies regarding the Epstein files and inconsistent trade policies with China, alongside manipulative White House press strategies.
State vs. Federal Dynamics: Through Governor Ned Lamont’s insights, Pakman illustrates the tangible effects of federal policies on state governance, particularly in economic and social domains.
Public Health Misconceptions: Addressing the dangers of misinformation perpetuated by influential figures like RFK Jr., and the risks associated with government-led medical registries.

Pakman’s comprehensive summary offers listeners a thorough understanding of the episode's key discussions, enriched with direct quotes and contextual analysis.

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Transcript

David Pakman (0:00)

Foreign way to start the day. Tesla is collapsing with net income down 71% in the first quarter of 2025. And we now understand why Elon Musk is leaving Doge and going to at least attempt to get back to work. Tesla posted its first quarter 2025 earnings and it's an absolute bloodbath. Net income down 71%. Just brutal. Elon Musk chose to funnel resources into the cybertruck, which looks sort of like what a 10 year old would design in Minecraft. And it is not going well. Total revenue missed expectations by nearly $2 billion. And the kicker is that Tesla only technically turned a profit this quarter because it sold nearly $600 million of regulatory credit. So if you take that away, you realize that Tesla only made any money because it sold government favors. Its actual operating income, just $399 million includes the credits. And we are to believe that this is a nearly trillion dollar company. I am so glad I got out when I did. And it gets even worse. Vehicle deliveries, which is sort of the primary activity that delivers value, generates value. Vehicle deliveries down 13%. The worst quarterly sales report in three years. And there is one thing, one man responsible for this, and that's Elon Musk. The guy spent the first quarter as the company was on the decline, working for Donald Trump's ridiculous Department of Government Efficiency, which mostly has targeted humanitarian programs in science. Plus posting authoritarian memes attacking trans people, including his own daughter, flashing an arguably fascist salute at Donald Trump's inauguration. And who could have guessed that people might not want to buy a car from a guy who's doing this stuff? There's a growing movement called Tesla Takedown, where former fans, including progressives, are dumping their cars and boycotting the brand. And if you look at the used market for Tesla's falling off a cliff. Now, to be fair, right? I always try to be fair. We are seeing a soft used market for electric vehicles in general. This is something that the EV space is going to have to contend with. But Tesla EVs in the used market depreciating even more quickly. And everything that I just told you about just gets us through March 31st. The numbers I gave you only account for Q1, which ended March 31st. Arguably, the stuff that's continued in April is even worse. And we don't even have those numbers. That's of course part of the second quarter for Tesla. April, May, June, and we will get that data in July, but it's not looking good. So the big takeaway here is that after years of exponential growth, significant growth, maybe not always exponential significant growth. Tesla is now in a freefall with regard to its primary revenue generating business justifying activity, which is delivering vehicles to people. And this is, you know, the right which says they defend speech and all of this stuff. They are now saying, oh, this is so unfair what they're doing to Elon. This is a lesson in what happens when a brand gets hijacked by a megalomaniac CEO with a persecution complex, a bad Twitter habit and some unfortunate political alliances. This is speech. And if you are a defender of speech, as I am, all you can say is that this is how capitalism works. This is how we have the consumer choices that people are allowed to make and say, here's what I want to support, here's what I don't want to support. And of course, Elon Musk's Musk gets to say and do what he wants to do and what he believes. But consumers can also utilize their speech rights to say, I will speak out against the brand or I will peacefully protest at a Tesla showroom or I will not buy a vehicle. Now, of course I do not support the burning down of the burning of vehicles, the burning of Tesla showrooms, violence. I don't support any of that stuff. But what I'm talking about is the speech rights, which include organizing against the company that you don't like, choosing not to do business with a company. All of these are values which the right claims to defend and support, except when it's Elon Musk and it becomes inconvenient. The proof is in the pudding and the numbers are a disaster. New alcohol concerns have exploded over Secretary of Defense Pete Hegseth's bizarre appearance on TV yesterday at the White House on Easter. And this has been an issue for a long time. As many of you know, Pete Hegseth promised that he wouldn't drink at all if he were made Secretary of Defense during the confirmation process. We start with his appearance yesterday morning on Fox and Friends where he was sort of a combination of manic and moving weirdly and just again the sort of thing that gets people asking, is he drinking again?

David Pakman (8:52)

So case in point, a very unusual communication style for, for a sober secretary of defense. We don't know if the alcohol problem has resurfaced. What we do know is that the performance is a disaster. Numerous leaks and information sent to people who have no business nor clearance nor reason to be involved. Receiving a bunch of this information and every indication is that this guy is on the way out and that before we know it, we will be hearing that he will resign because he has realized that he is becoming a distraction. Not because he did anything wrong, it's all because of the deep state and people going after him. But in order to allow Donald Trump to continue succeeding on a world stage, he has decided to take himself out and stop being a distraction. That is where we are right now. I expect him to go very soon. Alcohol or not, this is not the guy you want in charge of the Pentagon, the Department of Defense, or any of the United States of America's foreign dealings, that's for sure. If you run a business, you know managing multiple systems gets overwhelming. That's why there's Odoo, the all in one business management software. It simplifies your entire workflow, puts everything together in one easy to use platform. Our sponsor Odoo will seamlessly integrate all these different parts of your business. CRM and Sales Accounting Inventory Manufacturing Imagine effortlessly sending quotes, managing leads with predictive scoring, automating purchase orders, tracking real time inventory. All of it with an intuitive dashboard. Manufacturing becomes streamlined with Odoos comprehensive production planning, scheduling tools, quality management features. You know, the best part is it's fully customizable. I really find that I want to customize for my business how these dashboards work. You only need to install or use the apps that your business actually needs and tailor the platform to fit your workflow. Simplify your business management. Today you can try Odoo completely free for 14 days. No credit card required. Plus your first app is free forever. Visit odoo.com/pacman now that's od oh oh.com/pacman the link is in the podcast notes it can be really challenging to find the right learning opportunities for your kids, whether they need extra support or enrichment beyond the classroom or just something fun and engaging. To get more interested, you can check out out school. Our sponsor, Outschool is an online learning platform for kids aged 3 to 18 with small group live classes and one on one tutoring on demand courses on thousands of topics. I'm a parent and as someone who's always looking for more opportunities for my daughter to learn in new and valuable ways, I think what Outschool is doing is fantastic. Something any child could benefit from. Whether your kid likes science, art, coding, music, niche interests like mythology or chess, Outschool has it all. And what sets out school apart is really the flexibility and personalization. Kids get to learn on their own terms with passionate, expert educators, many of whom hold advanced degrees in what they're teaching. Over a million learners have taken out school courses and parents online rave about the experience. If you want to try out school, get up to $20 off your child's first class or tutoring session for a limited time. When you go to outschool.com/pacman and use the code PACMAN, that's outschool.com/pacman use code PACMAN for up to $20 off. The info is in the podcast notes. The David Pakman show is of course an audience supported program. We are primarily funded by you people who say I like this enough to support it. You can read more about membership and sign up@join pacman.com we do a daily extra show for our members called the Bonus Show. We also provide commercial free audio and video streams of the show to our members and many other great member benefits you can read about@join pacman.com Remember when Donald Trump was eagerly awaiting becoming president again so that he could immediately release the Jeffrey Epstein files? Yeah, I don't either. As you may recall, Donald Trump has always been clearly hesitant to say he would release the Jeffrey Epstein files. And of course the speculation is, the natural belief is that it is because of Donald Trump being on lists associated with Epstein flights and visits to his island, potentially that Trump has a self preservation reason not to release the Epstein files. Well, Trump was asked about it yesterday, sort of surprised by it and he goes, oh yeah, I don't know about that. Let me give you the answer before we hear from Trump. You're never going to see those files under Donald Trump. Here is Trump asked about it and how he responded.

David Pakman (30:51)

Of course, not an answer. Not an answer. It's a great place to do business. Is not an answer to there are countries warning citizens not to come here for their own safety. What do you say? A more reassuring response would have been those citizens have no reason to be concerned whatsoever. None whatsoever. But of course she answers about something else. How long are these press briefings sustainable? You know, from the point of view of the White House, I think quite a long time because her performance is certainly good in the using the rubric that Trump uses to evaluate how these are, which is she doesn't really directly answer questions, she always defends Trump, etc. From the point of view of the reporters, I don't even know why they bother asking questions at this point, because you're simply not going to get a substantive answer. You know, every time we call out Donald Trump's authoritarianism, the right calls it media hysteria. But I want to remind you that Trump admits he's looking for ways to defy the Constitution and maybe even pursue another term. Now, if you don't know the bias behind your news, you might believe, oh, Trump's just teasing us. There's nothing here. Go to Ground News, slash Pacman and see how media bias influences more than your perception from Trump's policy and ability to understand and undermine constitutional norms. I've been with Ground News for years now because this is what they do. They expose the hidden agendas behind reporting sources and make it easy to compare coverage and understand critical issues. Even better, if I'm reading a story on another site, the Ground News browser extension will flag the source's political bias and and give me other reports on the same story so I can verify the information. My viewers get 40% off the same unlimited vantage plan that I use, so you get their top tier plan for just $5 a month. Go to ground news, slash pacman. The link is in the description or scan the QR code. If you've ever dealt with nausea occasionally, more frequently, you might want to check out one of our sponsors. Relief Band, A wearable wristband designed to relieve and may maybe even prevent nausea. Many people use it for nausea related to anxiety or migraines or traveling by car, plane or boat. Sort of motion sickness. Easy to use, works quickly, lasts as long as you need. Completely drug free, no side effects. This was originally developed for use in hospital settings and it works through a process called transdermal neuromodulation accustimulation, which is a lot of words to basically say it sends a pulse to the part of your nervous system involved in regulating nausea. And there's research indicating this can be helpful for nausea from motion sickness, pregnancy, even from certain drug side effects. And there are studies that suggest that combined with medication, it can be very useful for post surgery nausea relief. Band's new Premier plus model provides advanced nausea relief and includes a digital clock. Uses smart skin sensing technology to preserve battery life. Relief Ban has earned an A plus rating from the Better Business Bureau. It has over 10000 satisfied customers online. If nausea is something you deal with, it might be worth seeing. If Relief Ban can help, visit reliefband.com and and use the code PACMAN for 20% off plus free shipping. The info is in the description. It's great to welcome to the program today. Ned Lamont, the governor of Connecticut. Governor, it's so great to have you on. You know, my audience knows I really like talking to governors because you are administrators in a way that our friends in the House and Senate in Washington, D.C. simply or not, it's a different role, it's a different job. And so where I want to start with you today is when you as governor are dealing with the on and off tariffs and the market instability and the things we are seeing from the Trump administration. What are the kind of nuts and bolts of the issues that trickle down to you as the governor of a state related to that that you are contending with?

David Pakman (49:06)

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Your conversation history is only stored on your browser. I love the pro plan because I get upgraded features like uploading files, unlimited text prompts. Check it out. If you want to use AI without censorship or fear of handing over your most intimate thoughts to a corporation or the government, go to Venice AI/PACMAN and use code PACMAN to get 20% off their pro plan. That's Venice AI/PACMAN. Get 20% off with code Pacman. The info is in the podcast notes. All right, so this just happened. And no, it is not a conspiracy theory. It is real and it is happening. The Trump administration is creating a government run autism registry, a database of autistic people in the United States using private medical records, wearable devices, pharmacy data and more. And take a guess who is behind it. Donald Trump, Secretary of Health and Human Services Robert F. Kennedy Jr. Yes, the anti vaxxer who thinks that he's going to cure autism very soon, according to NIH Director J. Bhattacharya. Also kind of a vaccine skeptical crank. The government is going to start scraping private medical data from pharmacies, from insurance companies, from labs, from the va, even potentially from smartwatches and other wearable devices to build this sort of registry. They're going to pull genomics records, they're going to pull Medicaid data, prescription history to feed this beast of an autism registry. A few handpicked researchers will get access. They can study your data, but don't worry, they can look at it, but they can't download it. Very reassuring, isn't it? This is of course medical surveillance of a vulnerable population. No one voted for this. No one asked for this. No one with an ounce of scientific integrity thinks that this is going to end well. And of course Robert F. Kennedy Jr. Has claimed on the record that autism is preventable. He's floated the idea of curing it. And he is of course trying to resurrect the debunked autism vaccine link, which has been thoroughly disproven for over a decade based on the now retracted quote study from Dr. Andrew Wakefield, who has also lost his medical license and at a financial interest in a measles only vaccine as an alternative to the MMR vaccine. But RFK now has the power of the federal government behind him. The CDC under Kennedy is investigating the link between vaccines and autism again in 2025. And we all know what's going to come next. They are going to say, hey, look, autism diagnoses are going down. Now, it won't be because autism is actually declining, but it will be because terrified parents stop having their kids tested, fearing government retaliation, insurance discrimination, and all of the rest because of this database that has been built, built. RFK Jr. And Trump will claim victory. They'll say, look, we did some stuff and autism is going down just like we said. And then they will give the credit to removing vaccine requirements. So this is the formula. We've seen this formula many times before. You manufacture a crisis, you credit yourself for the solution after making it impossible for anyone to seek help. And of course, this is not about actually helping autistic people. This is about tracking them, branding them, building a narrative. And the kicker is that it sets a precedent. Because if they can do this with autism, what stops them from creating registries for other conditions that are politically inconvenient? Depression, ADHD, gender identity. RFK Jr is a guy who can't seem to grasp that a rise in diagnoses might simply be better diagnostic tools. And we have many examples of this in medical history. For example, when mammograms were introduced and made standard of care, breast cancer diagnoses went up. That didn't mean that breast cancer suddenly appeared. It meant that we got better at finding it and finding it earlier and finding it with more precision. They are building the autism registry with your private health data, and they're going to use the impact of people hearing that the registry exists to claim that they're actually doing something medically. And of course, it's happening under the same president who is floating the deportation of American citizens to El Salvador and all of the other authoritarian stuff. The zoom out big picture is that the authoritarianism is palpable here and we're seeing it now push into the sort of area of medical surveillance. And the guy doing it couldn't possibly be less qualified. Speaking of RFK and autism, he now has made the wild claim that he has never seen an adult with what he is describing as full blown autism, meaning nonverbal and not toilet trained. That's his word, not mine. Take a listen to RFK dispensing This invaluable wisdom to Sean Hannity on Fox News this Week.

David Pakman (56:48)

There you go. This, if I said to you, you know, Bobby, I never see quadriplegics at the gym, would you say, well, they must not exist then because I don't see them at the gym. I think you get a little bit of the idea as to how ignorant, dangerous and flat out wrong this is. You know, it's like, gee, Bobby, I wonder why you don't see 70 year old nonverbal people who can't use the bathroom by themselves walking around the mall. What a mystery. Adults with severe autism often live in care homes. They often are at an age 70 year olds where their parents, who are often the primary caretakers for much of their lives, are no longer around. So the adults with severe autism that he's suggesting don't exist are living in support facilities or they are with caregivers. Many have lower life expectancy. They're not out, you know, mainlining beef tallow at a fast food restaurant with RFK Jr doesn't mean they don't exist. Means you're looking in the wrong places. Go to a care facility, talk to a specialist, walk into any autism support center in the country. RFK seems to think that the lack of severely disabled autistic adults in his personal bubble is proof that they don't exist. It's not just ignorant, it's vile. And, and by the way, even he admits that he's met people on the spectrum. Cool. Well then, so what's your point? Because when people talk about the rise in autism diagnoses, they're not talking about exclusively severe cases being created out of thin air. What we're talking about is broader and better diagnostic tools. So girls, for example, are sometimes more difficult to diagnose. With autism because it presents differently adults. Anybody who's high functioning and has sort of evaded the diagnosis for a long time. People with ADHD like symptoms, but it's not actually adhd. It's sort of, sort of lower on the spectrum autism that's most of the growth. It's not this secret wave of completely incapacitated people. The number of infantile or severely disabling autism cases is basically flat. The rise is improved screening and expanded definition. And the same guy that's parroting the vaccines cause autism stuff for years now is actually confused about the data that his own lies help to distort. Think about that. The vaccine that's not super clear. Let me explain it. The vaccine autism link has been debunked by decades of studies. But in comes Bobby Kennedy Jr. Using the absence of severely disabled adults at his dinner parties as evidence of what exactly? If he's going to lead a health agency, he should start by learning how autism actually works. And bonus clip. He also seems confused about adhd, Tourette syndrome, narcolepsy and other conditions, all of which he is now calling injuries.