State of Gold

Patrick Wolff, chess grandmaster, entrepreneur, and candidate for California Insurance Commissioner, tackles the collapse of the homeowners insurance market. He discusses how insurers pulled back after big fires, the role of regulation in blocking risk-based pricing, the need for wildfire mitigation and home hardening, and ideas to restore competition and accountability in California.

Guest:Jay Cheng, Executive Director - Neighbors for a Better San FranciscoGuest Bio: Jay Cheng is a San Francisco-based business leader and political advocate known for his work on education reform, public safety, and government accountability. He has played a key role in supporting more moderate leadership in San Francisco and focuses on restoring functionality to city governance.Show SummarySan Francisco has become a case study in what happens when policy, leadership, and accountability fall out of alignment,  but it may also offer a glimpse of what positive change can look like.In this episode of State of Gold, Jon Slavet sits down with Jay Cheng to discuss how San Francisco voters began pushing back, from recalling school board members to demanding better outcomes in public safety and education. Cheng explains why that shift happened, what triggered it, and whether California as a whole is ready to follow.The conversation dives into the realities behind San Francisco’s struggling school system, including declining enrollment, budget instability, and the lack of a standardized curriculum. They also explore improvements in public safety, the challenges of rebuilding police staffing, and what it takes for systems to actually function again.They close with a deeper look at California’s broader fiscal challenges and the proposed billionaire tax, unpacking why it could set a precedent far beyond the ultra-wealthy. It’s a candid conversation about accountability, consequences, and whether voters are ready to demand better.Chapters00:00 – “If You Don’t Like Your Leaders, Fire Them”00:48 – Is California at a Breaking Point?02:55 – What Triggered San Francisco’s Shift05:18 – The School Strike and Budget Crisis06:50 – Why Families Are Leaving the City08:52 – No Standard Curriculum? How It Happened10:08 – Leadership Failures in Education10:32 – Public Safety: Is It Actually Improving?11:47 – The Police Staffing Shortage13:01 – San Francisco’s Budget Problem14:42 – Why the City Can’t Keep Kicking the Can16:48 – A Budget Bigger Than Some Countries17:04 – The Billionaire Tax Debate19:05 – Why the Tax Scares More Than Billionaires20:23 – Rapid Fire: Fixing San Francisco & California22:40 – Expanding the UC SystemConnect with Jay ChengLinkedIn: https://www.linkedin.com/in/jaychengsf/X: https://x.com/jay_jay_chengEnjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com

Guest Bio: Jeremiah Owyang is a Silicon Valley technology analyst, entrepreneur, and venture investor focused on artificial intelligence and emerging technologies. He has spent decades studying how new technologies reshape industries and now works closely with founders building the next generation of AI-driven companies.Show SummaryArtificial intelligence is moving faster than almost any technology shift in history, and the ripple effects are already transforming how companies are built.In this episode of State of Gold, Jon Slavet sits down with Jeremiah Owyang to discuss the rapid rise of AI startups, how venture capital is evolving, and why this moment feels similar to the early days of the internet. Owyang explains how AI is lowering the barriers to building companies while simultaneously creating entirely new categories of businesses.The conversation explores what founders should be paying attention to, how AI agents may reshape work itself, and why California still sits at the center of global innovation despite political and economic challenges.Chapters00:00 – Why AI May Be the Most Consequential Technology Ever00:58 – Jeremiah Owyang Joins the Show02:13 – Where We Are in the AI Revolution03:28 – The Impact AI Will Have on Jobs05:44 – The Rise of AI-Native Startups08:25 – The First Billion-Dollar One-Person Company10:00 – Why Revenue Per Employee Is Exploding12:15 – AI Agents and the Future of Work15:05 – Why Silicon Valley Still Leads AI Innovation18:10 – How Founders Should Think About Building in the AI Era21:30 – What Society Is Not Ready For24:10 – Rapid Fire: One Thing That Will Shape the Future26:30 – What Gives Him HopeConnect with Jeremiah OwyangFacebook: https://www.facebook.com/JeremiahOwyang/Instagram: https://www.instagram.com/jowyang/LinkedIn: https://www.linkedin.com/in/jowyang/Twitter/X: https://x.com/jowyang/with_repliesEnjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of Gold X: https://x.com/realjonslavet Linked In: https://www.linkedin.com/company/stateofgold/about Instagram: https://www.instagram.com/stateofgoldpodcast/?hl=en Website: www.stateofgold.com

Guest:Antonio Villaraigosa, Former Mayor of Los AngelesGuest Bio: Antonio Villaraigosa is the former Mayor of Los Angeles and former Speaker of the California State Assembly. A longtime public servant, and now Democratic candidate for Governor, Villaraigosa has built his career around education reform, economic growth, and restoring opportunity in California.Show SummaryThe California Dream once meant opportunity, homeownership, and a better future for the next generation. Today, many Californians feel that dream slipping further out of reach.In this episode of State of Gold, Jon Slavet sits down with Antonio Villaraigosa to discuss the state’s political climate and what it will take to restore opportunity in California. The former Los Angeles Mayor shares his perspective on the Governor’s race, the challenges facing moderate voices in a polarized political environment, and why he believes California needs leaders focused on results rather than ideology.Villaraigosa also outlines his priorities for fixing California’s struggling education system, addressing housing affordability, cutting red tape that stifles business growth, and restoring the promise of the California Dream for the next generation.Chapters01:02 – Should Candidates Drop Out of the Governor’s Race?03:45 – The Political Center vs. The Extremes07:21 – The California Dream and Why It’s Slipping Away09:27 – Housing Costs and Economic Opportunity11:52 – Public Sector Pensions and Fiscal Responsibility17:10 – Fixing California’s Education System21:51 – Why Transparency and Accountability Matter23:13 – Spending, Deficits, and the State Budget24:28 – Why Villaraigosa Opposes the Billionaire Tax28:54 – Cutting Red Tape to Grow the Economy31:35 – Climate Goals vs. Infrastructure Reality34:34 – Rapid Fire: Fixing California’s Schools35:06 – Leaders He Admires in California History35:38 – Restoring the California DreamConnect with Antonio VillaraigosaFacebook: https://www.facebook.com/AntonioVillaraigosaInstagram: https://www.instagram.com/antonioforcaliforniaTwitter: https://x.com/AVillaraigosaYouTube: https://www.youtube.com/@AntonioforcaliforniaCampaign Site: https://www.antonio2026.com/Enjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com

Guest:Joel Pollak - Opinion Editor @ The California PostGuest Bio: Joel Pollak is a journalist, political commentator, and Opinion Editor at The California Post – a new publication he helped launch focused on covering California from a center-right perspective. A longtime California resident and former Illinois native, Pollak writes extensively on state policy, media bias, and government accountability.Show SummaryCalifornians are tired of things not working.In this episode of State of Gold, Jon Slavet sits down with Joel Pollak to discuss the launch of The California Post and why he believes there is a growing appetite for accountability in the Golden State.Pollak shares his personal experience surviving the Palisades fire, the insurance nightmare that followed, and why he believes government mismanagement made the disaster worse. The conversation explores President Trump’s executive order aimed at accelerating rebuilding, the controversy surrounding affordable housing proposals in the Palisades, and what local residents actually want.They then zoom out to tackle systemic issues: Behested payments to politicians, legalized corruption, COVID-era fraud, runaway state spending, and the proposed billionaire tax. Pollak explains how California risks driving away its most productive innovators and why history from Illinois should serve as a warning sign.Chapters00:00 – Why Californians Are Sick of Government Failure00:18 – Launching the California Post01:44 – Is There a Silent Majority in California?02:41 – Personal Impact of the Palisades Fire04:09 – Insurance Battles & Rebuilding Delays05:03 – Trump’s Executive Order on Rebuilding06:55 – Affordable Housing Controversy in the Palisades09:59 – Zoning, ADUs & Rebuilding Concerns12:37 – Exposing Corruption in Los Angeles14:09 – COVID Fraud & Behested Payments Explained16:45 – The Billionaire Tax and Economic Flight19:56 – The Mansion Tax Cautionary Tale22:03 – Revenue Problem or Spending Problem?23:31 – Rapid Fire: Fixing California Starts with WaterConnect with Joel PollakTwitter: https://x.com/joelpollak?s=20LinkedIn: linkedin.com/in/joel-pollakInstagram: https://www.instagram.com/pollakjoelHis latest pieces can be found on californiapost.com and nypost.com.Enjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com

Guest:Chad Peace, Co-Founder – Independent Voter NetworkGuest Bio: Chad Peace is an election reform advocate and representative of the Independent Voter Project, an organization focused on expanding voter participation and reducing partisan control over the primary process. He has been deeply involved in California’s transition from closed primaries to the current top-two open primary system, and continues to advocate for structural reforms that empower independent voters and increase electoral competition.Show SummaryNearly half of voters nationwide now identify as independent. In California, No Party Preference voters are the fastest-growing bloc. So why does the political system still revolve around partisan extremes?In this episode of State of Gold, Jon Slavet sits down with Chad Peace to unpack the rise of independent voters, the origins of California’s top-two open primary system, and the unintended consequences that followed.They explore whether the “jungle primary” has improved democracy, why both parties often resist reform, and what a top-five ranked-choice primary system could look like in California. The conversation also dives into voter ID, ballot harvesting, election confidence, and the broader debate over how to restore trust in the electoral process.From redistricting battles to Supreme Court strategy, this is a candid discussion about who gets to participate in elections and whether California is living up to its democratic ideals.Chapters00:03 – The Rise of Independent Voters01:17 – Why Both Parties Are Moving to the Extremes01:33 – The Origins of California’s Open Primary02:47 – Has the Top-Two System Improved Democracy?05:06 – The Unintended Consequences of the Current System07:50 – Top-Five Primaries & Ranked Choice Voting Explained09:08 – Redistricting, Prop 50 & Partisan Power Plays12:04 – The Supreme Court & The Right to Vote in Primaries12:38 – Voter ID: A 70/30 Issue15:43 – Mail-In Voting, Ballot Harvesting & Election Confidence17:50 – Politics, Culture & Attack of the Killer Tomatoes19:21 – Rapid Fire: One Reform to Fix California19:39 – What Gives Him Hope20:18 – California Is…Connect with Chad PeaceTwitter: https://x.com/ChadPeaceLinkedIn: https://www.linkedin.com/in/chadpeace/Enjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com

Guest:Lanhee Chen, Stanford Hoover Fellow and Policy Expert Guest Bio: Lanhee Chen is a policy expert, former candidate for California State Controller, and national commentator on fiscal policy and healthcare reform. He has advised at the highest levels of government and regularly contributes analysis on California’s budget, tax structure, and long-term economic outlook. Known for his data-driven approach, Chen focuses on accountability, structural reform, and restoring fiscal discipline to state government.Show SummaryCalifornia can swing from a $150 billion surplus to a $150 billion deficit in just a few years. Why?In this episode of State of Gold, Jon Slavet talks with Lanhee Chen to break down California’s structural budget problems in simple terms. From an antiquated tax system heavily reliant on capital gains to ballooning fixed costs and voter-approved spending mandates, Chen explains why the state is trapped in boom-and-bust cycles.They dive into the proposed billionaire tax and why, despite sounding appealing, it will drive high earners and founders out of California while reducing long-term revenue. Chen also outlines the risks of taxing unrealized gains and how that precedent could impact entrepreneurs and future innovators.The conversation then turns to waste, fraud, and abuse in programs like unemployment insurance, Medi-Cal, and IHSS. Finally, Chen shares his vision for healthcare reform, including radical price transparency, expanding provider supply, and creating a more competitive healthcare marketplace.If you want a clear, non-theatrical breakdown of California’s fiscal challenges and what real reform could look like, this is it.Chapters00:00 – California’s Boom and Bust Budget Cycles02:37 – The Structural Deficit Problem Explained03:20 – How Should California Reform Its Tax System?05:06 – Revenue Problem or Spending Problem?05:39 – Why the Billionaire Tax Is a Bad Idea07:12 – The Dangerous Precedent of Taxing Unrealized Gains08:51 – Waste, Fraud & Abuse in State Programs09:21 – The Unemployment Insurance Scandal10:30 – Medi-Cal, IHSS & Systemic Accountability Failures12:06 – Fixing Healthcare Without Government Takeover13:10 – Radical Price Transparency in Healthcare14:00 – Expanding Supply & Reducing Consolidation15:27 – Incentivizing Preventive Care17:13 – Rapid Fire: One Big Reform for California18:09 – What Gives Him Hope18:40 – Is California Punching Under Its Weight?Connect with Lanhee ChenLinkedIn: https://www.linkedin.com/in/lanheechen/Instagram:https://www.instagram.com/lanheechenX: https://x.com/lanheechenEnjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com

Guest Bio: Michael Pierce is a venture capitalist, technology executive, and founder of American Gun Owners, a California-based company focused on making legal, responsible gun ownership accessible to everyday Americans. Michael brings a unique perspective to public safety, entrepreneurship, and the growing demand for self-defense in major cities. Raised on a cattle ranch and surrounded by firearms from a young age, he approaches gun ownership as a practical tool rather than a political statement.Show SummaryWhy are more Californians who never wanted guns now feeling like they need one?Michael Pierce joins Jon Slavet to explain why rising crime, slow police response times, and social unrest have pushed ordinary Californians toward personal self-defense. Michael shares the real-world conversations that inspired him to launch American Gun Owners and why California, despite being one of the most restrictive states, is exactly where this business needed to be built.They dive into the challenges of buying a firearm legally in California, the confusion first-time buyers face, and how American Gun Owners uses technology and education to simplify the process. The conversation also explores policing shortages, deterrence, elites disconnect from everyday safety concerns, and what California must do to restore confidence and economic momentum.This episode offers a grounded, non-political look at guns as a utility, public safety as a core government responsibility, and why fear has become a daily reality for many Californians.Chapters00:00 – Why Michael Is Building American Gun Owners in California01:45 – Crime, Social Unrest & Slower Police Response Times02:19 – Why LA Is Dangerously Under-Policed03:50 – First-Time Gun Buyers and the Education Gap04:19 – How People End Up with the Wrong Firearm05:40 – Guns as a Utility, Not a Political Statement06:55 – Why Buying a Gun Legally Is So Complicated07:36 – How American Gun Owners Solves the Problem08:23 – Using AI to Match People With the Right Firearm10:05 – California Compliance, Training & Safe Storage12:30 – Liability, Self-Defense Law & Castle Doctrine14:13 – Crime in Wealthy Neighborhoods Isn’t Rare Anymore16:02 – Deterrence and Why Signs Actually Matter17:19 – What Elites Don’t Understand About Feeling Unsafe19:50 – Fixing California’s Business Climate23:02 – Rapid Fire: One Fix for California23:09 – What Still Gives Him HopeConnect with Michael PierceTwitter: https://x.com/mpierce_agoLinkedIn: https://www.linkedin.com/in/michaelpiercelaInstagram: https://www.instagram.com/americangunowners.online/Website: https://www.americangunowners.com/Enjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com

Guest:Dr. Houman David Hemmati, Entrepreneur & Political ActivistGuest Bio: Dr. Houman David Hemmati is a physician, scientist, entrepreneur, and public advocate for medical freedom and ethical healthcare reform. With a background in biomedical engineering, neuroscience, and ophthalmology, he’s advised pharmaceutical companies, led biotech ventures, and become an outspoken voice on issues ranging from pandemic policy to the misuse of scientific authority. Dr. Hemmati is also a frequent media contributor and a passionate advocate for patient rights, transparency, and innovation in medicineShow SummaryLos Angeles is collapsing in real time and Dr. Houman Hemmati says it’s not accidental.In this episode, Dr. Hemmati joins Jon Slavet to expose what he calls the “homeless industrial complex,” a system incentivized to grow rather than solve the crisis. From Westwood turning into “Skid Row West” to taxpayer-funded housing scams costing up to $2 million per unit, Dr. Hemmati details how California’s homelessness policies have failed both the vulnerable and the public.The conversation then turns to the proposed billionaire tax, why it threatens startup founders and innovation, and how taxing unrealized wealth could permanently drive entrepreneurs out of California. Dr. Hemmati explains why the state doesn’t have a revenue problem, but a spending problem, and why tough love may be the only path forward.This is a candid, no-holds-barred look at the policies, incentives, and political realities shaping California’s future and what gives him hope that voters may finally be reaching a breaking point.Chapters00:00 – Dr. Houman Hemmati’s Path from Doctor to Activist00:36 – Westwood’s Decline and “Skid Row West”02:30 – The Failure of Local Government in Los Angeles03:18 – How COVID Supercharged the Homeless Crisis04:45 – Prison Releases, Incentives, and Manufactured Chaos06:05 – The Homeless Housing Scam and Taxpayer Theft07:15 – Moral Hazard and Why Current Policies Make Things Worse08:40 – The Billionaire Tax Explained Simply10:51 – Why Entrepreneurs and Capital Are Leaving California12:45 – Taxing Unrealized Wealth and Constitutional Concerns14:30 – California’s Spending Problem vs Revenue Problem16:24 – Why California Needs an Intervention18:10 – Rapid Fire: One Fix to Save California18:21 – What Finally Gives Him Hope21:45 – Why Ordinary Citizens Are Starting to Push BackConnect with Dr. Houman David HemmatiX: https://x.com/houmanhemmati/LinkedIn: https://www.linkedin.com/in/houman-david-hemmati-md-phd-aa0486/Enjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com

Guest:Joel Kotkin, Chapman University ProfessorGuest Bio: Joel Kotkin is a renowned urban studies scholar, author, and fellow in urban futures at Chapman University. His work has appeared in Forbes, The Daily Telegraph, City Journal, and more. A longtime Californian, Kotkin has spent decades analyzing demographic trends, class shifts, and political transformations shaping the Golden State. His recent commentary focuses on the decline of middle-class opportunity, rising costs of living, and the unintended consequences of progressive policy.Show SummaryWhat happened to the California Dream? In this powerful conversation, Joel Kotkin joins Jon Slavet to unpack the root causes of California’s middle-class crisis. From skyrocketing housing costs and regressive climate policies to the rise of oligarchic politics and the exodus of working families, Kotkin makes a compelling case for how the state lost its promise — and what it will take to restore it.He also calls out how the YIMBY movement, climate dogma, and one-party rule are shaping a state that serves the ultra-wealthy and subsidized poor — while leaving the middle class behind. If you care about California’s future, this is essential watching.Chapters00:00 – California's Middle-Class Collapse01:10 – Kotkin on Coming to California in the 1970s03:00 – Climate Policy: Idealism or Ideology?05:00 – Who Really Pays for Green Mandates06:30 – Why Reform Feels Impossible08:00 – Billionaire Tax and Class Warfare09:30 – Government Growth and Wealth Redistribution11:00 – Why the Rich Get Richer in California13:00 – California's Startup Problem15:00 – Why the Middle Class Can't Stay16:00 – The YIMBY Agenda Critiqued18:00 – King for a Day: Kotkin’s First Fix19:30 – The Closing Thought: Potential vs. RuinConnect with Joel KotkinTwitter: https://x.com/joelkotkin?lang=enYouTube: https://www.youtube.com/@joelkotkinSubstack: https://joelkotkin.com/LinkedIn: https://www.linkedin.com/in/joel-kotkin-1883922/Enjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com