Open Book with Anthony Scaramucci AI Replacing Humans, Tariffs Hurting Americans & Why Markets Feel Broken
17 snips
Feb 18, 2026 
Michael Novogratz, founder and CEO of Galaxy Digital and veteran macro investor, joins to unpack big shifts. They talk AI's rapid disruption of jobs and coding. They discuss why crypto culture and conferences stay vibrant. They argue tariffs act like a consumer tax and debate market positioning amid dollar and geopolitical stress.
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Policy Stalemate Fueled By Lobby Compromises
- Congress is stalling crypto regulation by deferring to industry compromise between banks and stablecoin issuers.
- Novogratz criticizes lawmakers for expecting private parties to adjudicate public policy.
Remittance Lines Illustrate Crypto's Promise
- Novogratz described Caribbean remittance lines paying high fees at Western Union.
- He contrasted that with near-costless blockchain transfers that could materially help the unbanked.
AI Creates Political And Productivity Tension
- AI is the greatest productivity increase of our lifetime and will raise profits while reducing jobs.
- That shift creates political friction as more profit accrues with fewer workers employed.
