Ivanka Trump Reveals She Shut Down $800 Million Fashion Business
"We created an accessibly priced line that was feminine and beautiful. Close to $800 million in sales annually when I shut it down when I went into government."
About this episode
In a wide-ranging Business Wednesday episode, host Patrick Bet-David convened Tom Ellsworth, Anthony Pompliano, and Brandon to dissect the explosive convergence of AI, monetary policy, and the 2026 IPO wave. The conversation opened with analysis of the red-hot IPO market, where Cerebras jumped 68% on day one despite being 20x oversubscribed, and SpaceX, OpenAI, and Anthropic prepare summer offerings that could reshape public markets. Pompliano argued forcefully that Anthropic's Fable 5 model represents the next category-defining breakthrough, revealing that 80% of Anthropic's own code is now written by AI and citing data showing AI models now cost more per hour than the average American salary. The panel debated whether to allocate capital to Bitcoin or AI, with Pompliano making the case that AI offers greater asymmetric returns while Bitcoin has matured into a gold-like store of value. Trump's aggressive push for 1% interest rates dominated the monetary policy discussion, with the President publicly pressuring Fed Chair nominee Kevin Walsh even as CPI hit 4.2%, leading to debate over whether inflation data or public sentiment matters more heading into midterms. DeSantis announced a groundbreaking $250,000 homestead exemption for Florida residents, intensifying the exodus from blue states. The episode took a darker turn discussing the Belfast beheading attack, with Pompliano arguing the coordinated Irish response signals organized resistance to immigration that is fundamentally economic rather than purely political. Throughout, the hosts emphasized that average Americans are being left behind by asset price inflation, with the wealth gap widening dramatically as those invested in equities and AI compound gains while Main Street struggles with affordability.
Key takeaways
- Anthropic disclosed 80% of its production code is now written by its own AI model Claude, up from single digits in early 2025.
- Trump stated on Air Force One he wants rates cut to 1%, putting immense political pressure on incoming Fed Chair Kevin Walsh despite 4.2% CPI.
- Eli Lilly is growing revenue 55% year-over-year as a trillion-dollar company while operating a 1,000-GPU AI data center on its campus.
- Cerebras IPO popped 68% on day one after being oversubscribed 20x, kicking off what experts predict will be the summer of IPOs including SpaceX.
- Florida Governor DeSantis passed a $250,000 homestead property tax exemption aimed at eliminating most non-school taxes for residents by 2028.
- Pompliano argued Belfast beheading sparked organized Irish resistance revealing economic tensions driving both migration and anti-immigration movements globally.
- Ivanka Trump revealed she shut down an $800 million annual revenue fashion empire spanning 11 categories when joining White House.