Podcast Summary: “And, This Is Governor Newsom Live At The DealBook Summit With Andrew Ross Sorkin”

Podcast: This is Gavin Newsom
Host: Andrew Ross Sorkin (DealBook/iHeartPodcasts)
Guest: Gavin Newsom, Governor of California
Date: December 5, 2025
Theme: A candid, no-holds-barred conversation between Governor Gavin Newsom and Andrew Ross Sorkin at the DealBook Summit, tackling the direction of the Democratic Party, wealth inequality, Trump-era politics, political communication, Silicon Valley, and Newsom's own potential future in national leadership.

Main Theme & Purpose

The episode centers on the transformation of the Democratic Party, America’s political polarization, policy debates on wealth and economic inequality, ethical challenges in business and politics, and Governor Newsom’s vision for fighting the current political climate. Newsom addresses criticism, his unique communication strategies (mirroring Trump), Silicon Valley’s shifting alliances, and speculation about his own political ambitions.

Section 1: The State and Future of the Democratic Party

Key Points

• The Old Democratic Party is Gone (04:12–06:17)

  • Newsom asserts the “Democratic Party of old is no more,” emphasizing a shift toward offense, unity, and renewed energy post-recent election wins in CA, VA, NJ, PA, and GA.
  • “We’re finally back on our toes, not our back heels. ... as a consequence, we’re winning again.” (Gavin Newsom, 04:12)

• Party Unity Amid Policy Divides

  • Newsom wants the party to be a “big tent,” welcoming “pre-distribution” and “redistribution” Democrats, but recognizes ongoing internal debates.

• Analyzing Election Losses (06:17–08:33)

  • Newsom provides a granular breakdown of the party’s recent failures, citing inflation, interest rates, border issues, incumbency fatigue, and a need to appear more “culturally normal” and less judgmental.
  • On economic disparity: “If we don’t democratize our economy, we’re not going to save democracy.” (Gavin Newsom, 07:45)

Section 2: Wealth Taxes & Economic Inclusion

Key Points

• Opposition to California Wealth Tax (08:33–10:03)
  • Newsom rejects a state wealth tax for practical reasons: “You can’t isolate yourself from the 49 others. We’re in a competitive environment.” (Gavin Newsom, 08:42)
  • Cites technical and logistical hurdles to taxing wealth fairly and the political reality of most opposition to a ballot initiative.
• Addressing Inequality Without Direct Wealth Taxes
  • Focuses on actionable affordability measures (e.g., $11 insulin by manufacturing instead of subsidizing; utility rebates; grid innovation).
  • Praises “baby bonds” backed by Cory Booker and Ted Cruz to create opportunity for all children.

Notable Quote

“Plutarch was warning the Athenians that the imbalance between the rich and the poor is the oldest and most fatal ailment of all republics ... it’s off kiltered now, and it has to be addressed.”
— Gavin Newsom (09:32)

Section 3: Newsom’s National Profile & Political Ambition

Key Points

• 2028 Presidential Speculation (12:06–13:24)

  • Sorkin references Politico calling Newsom the 2028 Democratic frontrunner. Newsom demurs but admits he’s thought about it: “I’d be lying. ... I hate those politicians say I haven’t thought about the future in that respect.” (Gavin Newsom, 13:01)
  • Stresses focus on fighting Trump and preserving electoral fairness, not personal ambition.

• Fears of Authoritarianism & Election Integrity (13:24–16:50)

  • Newsom argues 2026 could see the end of free and fair elections if Democrats lose the House.
  • Condemns Trump’s use of federal law enforcement and military to intimidate voters and stage “competitive authoritarianism.”
  • Quotes: “Wake up to what is going on in this country. It is code red.” (Gavin Newsom, 15:42)

Section 4: Prop 50 and Gerrymandering

Key Points

• Defending Temporary Redistricting Changes (17:20–18:35)
  • Newsom maintains support for independent redistricting but says recent emergency measures were justified to counter Trump’s maneuvers elsewhere.
  • “A temporary response to an emergency of Donald Trump's making was appropriate.” (Gavin Newsom, 17:20)

Section 5: “Trolling” Trump and Political Communication

Key Points

• Mirroring Trump’s Rhetoric (18:36–21:31)

  • Newsom unapologetically admits to using Trump’s “iterative style”—mimicking and parodically escalating Trump’s own language and tactics.
  • Notable Exchange:
    • Sorkin reads a recent Newsom post using terms like “seriously demented piggy” and “dimwit avengers.”
    • Newsom defends this as an attempt to “wake everybody up” and combat “normalization of deviancy.”
  • “I tried to put a mirror up to what the hell is going on in this country. This is not normal behavior.” (Gavin Newsom, 19:21)

• Trump Signature Series Knee Pads Satire

  • Newsom quips about selling “Trump signature series knee pads” as merchandise, mocking corporate and university leaders for currying favor with Trump.
  • “By the way. Some of you may need to buy them in bulk.” (Gavin Newsom, 21:31)

Section 6: Trump’s 2028 Ambitions & Election Fears

Key Points

• Potential for “Presidency Beyond 2028” (27:34–29:36)

  • Newsom suggests Trump’s health may ultimately limit his ambitions, but takes seriously attempts to manipulate future elections—including laying groundwork for extending influence even past a second term.

• Concerns About Election Security

  • Describes Trump’s plans for federalized National Guard quick response teams as deeply troubling.
  • “It’s a series of things...that stacking creates a lot of stress from my perspective.” (Gavin Newsom, 30:39)

Section 7: Silicon Valley and Shifting Political Alliances

Key Points

• Tech Leaders Leaving California—Or Not? (30:39–33:39)

  • Newsom downplays the “big move” out of California, noting that most high-value tech and R&D remains.
  • Acknowledges shifting loyalties among certain tech leaders, especially those veering toward Trump, but calls some of it fiduciary posturing.

• Grift and Self-Dealing in Tech and Government (33:39–36:24)

  • Cites a New York Times investigation, calling current scale of capital self-dealing and conflicts of interest in Trump-era politics “a different level” than historic coziness between Silicon Valley and previous Democratic administrations.
  • “There’s nothing equivalent about what’s going on in the United States right now as it relates to crony capitalism and self dealing, period, full stop.” (Gavin Newsom, 34:45)
  • Advocates for stronger ethics enforcement.

Section 8: Defending California’s Record

Key Points

• California as National Standard-Bearer? (36:24–39:41)
  • Newsom robustly defends California’s economy, innovation, and growing Fortune 500 presence, rebutting criticisms about debt, homelessness, and business outflow.
  • “We went from the sixth largest economy to the fourth ... $4.1 trillion a year ... The future happens in my state first, where America’s coming to traction.” (Gavin Newsom, 37:18)
  • Admits progress on struggle areas is slow but ongoing.

Section 9: Corporate Fealty and Cronyism

Key Points

• Criticizing “Dear Leader” Culture (39:41–42:03)
  • Newsom blames Trump for fostering unprecedented business fealty and rewarding companies that “kiss the ring.”
  • Distinguishes between necessary fiduciary action and participatory complicity in crony capitalism.

Section 10: Regulating AI and Climate Policy—State vs. Federal Power

Key Points

• Regulating AI, Emissions: State or Federal? (42:03–45:39)
  • Reflects on historic leadership from CA in environmental regulation; criticizes rollback of fuel efficiency standards by auto industry and federal government.
  • Warns that US is falling behind China in EV and mobility tech due to current policy “doubling down on stupid.”

Section 11: The Democratic Bench—If Not Newsom, Who?

Key Points

• Qualities Needed in the 2028 Nominee (45:39–47:20)

  • Values “pragmatism” and the ability to “repair the breach” in America.
  • “Divorce is not an option” for the nation; must engage with opposing views respectfully (as he’s done on his own podcast).
  • Open to any hard-headed pragmatist, mentions Kamala Harris, Andy Beshear, Wes Moore, jokes about Mr. Beast running.

• Republican Field

  • Anticipates Trump controlling his own succession, with possible mention of Rubio, J.D. Vance.

Section 12: Newsom’s Life Outside Politics

Key Points

• If Not In Elected Office... (48:08–50:03)
  • Newsom is an entrepreneur at heart, built businesses post-college, and is passionate about private enterprise and risk-taking.
  • Plans to publish a book: “Young Man in a Hurry” (Feb 23).
  • Emphasizes the importance of “the office of citizen” above all other offices.

Memorable Closing Quote

“In a democracy, the most important office is office of citizen.”
— Gavin Newsom (49:01)

Notable Quotes & Timestamps

• “If we don’t democratize our economy, we’re not going to save democracy.” (07:45)
• “I tried to put a mirror up to what the hell is going on in this country. This is not normal behavior.” (19:21)
• “Wake up to what is going on in this country. It is code red.” (15:42)
• “There’s nothing equivalent about what’s going on ... as it relates to crony capitalism and self dealing, period, full stop.” (34:45)
• “The most important office is office of citizen.” (49:01)
• “Divorce is not an option.” (46:28)
• “I encourage you, if you’re bored, Google [Trump signature series knee pads] right now. ... Some of you may need to buy them in bulk.” (21:31)

Key Timestamps for Major Sections

• Democratic Party shift: 04:12–06:17
• Wealth Tax & Inequality: 08:33–10:03
• 2028 Speculation & Authoritarian Threats: 12:06–16:50
• Gerrymandering & Prop 50: 17:20–18:35
• Trolling Trump & Rhetoric: 18:36–21:31
• Trump and Future Elections: 27:34–30:39
• Silicon Valley & Political Realignment: 30:39–36:24
• California’s Defense: 36:24–39:41
• AI, Regulation, and Climate: 42:03–45:39
• Next Democratic Leaders: 45:39–47:28
• Newsom’s Life & Philosophy: 48:08–50:03

Overall Tone

Engaged, intense, combative yet self-aware and humorous. Newsom wields sharp critique, directness, and biting satire, wielding both policy depth and rhetorical flourishes, while Sorkin presses for clarity and candor.

Summary Conclusion

This conversation places Gavin Newsom squarely in the debate over America’s political future—willing to grapple face-to-face with the challenges of polarization, economic inequality, crony capitalism, and the “Trumpist” approach to democracy. Whether or not he seeks the presidency, Newsom positions himself as both a defender and critic of his party, invoking both urgency and pragmatism as America approaches a crucial and tumultuous political era.