My liberal friends are completely oblivious about how radicalizing the last week has been for tens of millions of normal Americans. Zero clue.
I’m not talking about people who are “online”; I mean regular, everyday Americans. “Normies.” People who scroll through Facebook posts and Instagram reels from the Dutch Bros drive thru line. Political moderates who have water cooler chats about Mahomes touchdowns and Bon Jovi concerts, not Twitter threads or Rachel Maddow monologues.
Millions of them. Tens of millions. They’re logging on, they’re engaging, and they’re furious.
And I’ll be candid: They blame you guys. They blame the left.
Regardless of whether you believe it to be justified, they think you’re the bad guys here. And they are reacting accordingly.
I can already hear some of you racing toward the comments to start screeching in moral indignation, so I’m going to be blunt: Shut up and listen to what I’m telling you. Your movement will lose any semblance of relevance if you don’t develop some small measure of self-awareness, and—absent someone force-feeding you bitter medicine—you guys collectively lack the humility to do this on your own.
Here are the facts:
Fact 1. Tens of millions of Americans started the week seeing a 23-year-old blonde woman—a young woman in whom virtually every parent watching pictured their own daughter—stabbed in the neck by a career criminal. These people then found out the murderer had been released from jail 14 times over.
Fact 2. Two days later, tens of millions of Americans watched a video of Charlie Kirk get murdered speaking to college students. Millions of these people knew who Charlie was; millions of them didn’t. Upon seeing the video, however, these normal Americans from across the land and across the political spectrum agreed that he was the victim of a terrible, fundamentally unjustifiable crime, and their hearts broke in sympathy for his family. Good people who had never even heard the name Charlie Kirk before wept.
Fact 3. Immediately after seeing the footage of a peaceful young man get shot in the neck, these same people logged onto Facebook and Instagram (remember, we are talking about regular Americans, not perpetually online Twitter or Bluesky users) and saw some of their local nurses, school teachers, college administrators, and retail workers celebrating this horrific crime. Not just defending it, but cheering it.
These are all facts. You may not like the implications of these facts, and we can certainly debate the underlying causes thereof, but, indisputably, they are nevertheless factual statements.
Here’s what it means for you, the Democrats reading this:
These normal, middle-of-the-road, non-political citizens just become politically active. They realized that politics cares about them, even if they don’t particularly care about politics. After watching Iryna Zarutska and Charlie Kirk both bleed out from the neck, they think their lives and the physical safety of their families—the bedrock of human society, the foundation of Maslow’s hierarchy of needs—depend on political activation, whether they desire it or not.
These people are now sprinting—not jogging, not walking, but racing—to the right. Because they blame you guys for everything that just happened.
When they see footage of Decarlos Brown stabbing a Ukrainian refugee to death, they don’t see just one demon-possessed man. They picture every university administrator, HR bureaucrat, and DEI apparatchik that ever lectured them about systemic racism, the “carceral state,” or the need to release violent crime suspects without bail in the name of social justice.
They then think back to conversations they’ve had with their cop friends—their buddy from high school who quit the force after getting tired of being called a racist, their friend at the local YMCA who vents about having to release career criminals because Soros-funded prosecutors aren’t willing to file charges—and they realize everything the left has told them over the last five years has been utter bullshit.
And they blame you. Because, even if you count yourself as a moderate Democrat, your party supported the district attorneys, city council members, and mayors that let fictitious concerns about mental health and racial justice supersede very real concerns for their family’s safety.
When these Americans see blood erupt from the side of Charlie Kirk’s neck, they don’t see just a martyred political activist. They think of every extreme leftist they’ve ever met who (1) calls anyone to the right of Hillary Clinton a fascist and (2) constantly jokes—“jokes”—about punching Nazis and “bashing the fash.”
They realize that there really do exist people who wish to see them dead for their moderately conservative political beliefs, their Christian faith, and even the color of their skin. They ask themselves if the violence visited upon Charlie might one day show up on their own doorstep.
And they blame you. Because, even if you’re just a center-of-the-road liberal, you lacked the courage to police your own ranks. You let modern-day Maoist red guards run loose across every facet of society, and what started with social-media struggle sessions has now turned to 30-06 bullet holes.
When these Americans log onto social media and see their neighbors justifying, celebrating, glorifying murder, they realize that some who walk among them are soulless ghouls at best, literally demon-possessed at worst. These people—whether they faithfully attend church every Sunday or only attend with relatives once a year, on Christmas Eve—start talking about things like spiritual warfare. They implicitly understand that no normal human casually celebrates the mortal demise of a peaceful person.
And they blame you. Because, even if you condemned Charlie Kirk’s murder, they probably haven’t seen you condemn those in your own movement who cheered it on. They view you as complicit in allowing heartless fellow travelers to celebrate death, and it repulses them.
For all of these situations, what has your response been? Nothing but bullshit.
In response to Iryna Zarutska bleeding out on the floor of a train, you post bullshit statistics about reductions in reported crime, when everyone who’s ever been to a major urban center in the last decade knows that actual crime has skyrocketed, only for victims not to waste their time reporting it to cops that don’t have the manpower to respond and prosecutors that seek to downgrade as many felonies as possible to misdemeanor citations.
In response to a 31-year-old man taking a bullet to the neck in front of his family, you post nothing but bullshit whataboutism.
> “What about January 6th?” (Honest answer: After you let Liz Cheney spend two years operating a star chamber in the House, combined with countless other failed attempts at “lawfare” against Trump, no one cares anymore.)
> “What about Mike Lee making a dumb joke on Twitter about some guy in a mask in Minnesota?” (No one outside of Utah, DC, or Twitter knows who Mike Lee even is.)
> “What about Paul Pelosi?” (That’s not comparable to Charlie Kirk getting shot, and we all know it. And, again, Paul who?)
> “What about regulations on assault rifles?” (That’s not going to get you very far when one of these killers used a knife and the other one used a common hunting rifle.)
In response to teachers, healthcare workers, and thousands of other liberals cheering on Charlie’s murder, it’s nothing but more bullshit and misdirection.
> “It’s not THAT many people celebrating!” (Yes, it is. Everyone has seen it on their Facebook and Instagram feeds.)
> “I thought you guys didn’t support cancel culture.” (We don’t cancel people over their opinions; we’re more than happy to see people lose their jobs—especially their taxpayer-funded jobs—for actively cheering on murder, though. If you can’t see the difference, that’s your own shortcoming.)
All bullshit. Not even smart bullshit, but stale, mid-grade, low-IQ bullshit. Ordinary Americans see right through it, and they don’t like how it smells.
You probably don’t like hearing this. But you need to hear it.
Because I’m right, and, as you reflect on this, you know I’m right. The ranks of my political movement gained millions of righteously angry new members this week. We have a mandate to ensure these crimes never happen again, and that’s exactly what we are now going to do.
If you want to keep a seat at the table as we do so, you’d better clean house and start policing your own.
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Paul Singer has led activist campaigns against some of the largest companies on earth—AT&T, SoftBank, BP, Southwest.
He even commandeered a navy vessel after Argentina defaulted on its debt.
Last week, he set his sights on Pepsi.
Let's dive into his thesis and plan 🥤👇
PART 1: INVESTMENT THESIS
PepsiCo is currently undervalued, reflecting investors' lack of confidence in growth.
It's valued at 18x earnings, compared to a historical average of 22x.
PepsiCo now trades at a 4.1x P/E discount to peers, rather than its average 1.4x premium.
PepsiCo has grown revenue at a 9% CAGR over the last 60 years (nearly triple the annual growth in US GDP each year, or more than 25x US GDP growth in aggregate).
Today, PepsiCo's 200+ brands generate $92B in annual revenue.
An activist investor just released a turnaround plan for Cracker Barrel. It's incredible reading.
Sardar Biglari, who fixed Steak 'n Shake after 2008, has owned $CBRL shares for 14 years. And he's not happy with how his investment has gone.
Let's dive into the 120-page plan 👇
Cracker Barrel stock is down nearly 50% over the last year, compared to a 28% gain in the S&P 500.
Over the last five years, the stock is down 70%, compared to a gain of 108% in the index.
Even prior to Covid, guest traffic was decreasing 1-2% per year. Over the past two years, it's down 3.5% and 5.0% (these are *massive* declines for a restaurant chain).
🧵 “Why care about California? It’s more Mexican than American at this point.”
Respectfully, no. This is wrong. California isn’t just American; California is America itself, every bit as much as the colonies of New England or the plains states of the Heartland. We must cherish and protect every inch of it, no less than we would the forestland of Georgia or the prairie brush of Texas.
When tens of thousands of gold prospectors braved the Rocky Mountains and the Great Basin Desert in search of the quintessential American promises—self-reliance, wealth, a new beginning—it was to California’s mines they trekked. California is where they built San Francisco from a remote backwater of just 200 souls into the 19th century's most important city in America and the most significant trading hub in the world.
In World War II, it was California’s 140 military installations that housed 1.6M American GIs, and it was largely through the ports of Los Angeles and San Francisco that many of them embarked to the Pacific theater. For tens of thousands of them, California’s coastline would be the last American soil they would ever see in life.
The tariff situation is causing massive ripple effects throughout the economy. Failing to resolve the situation quickly means risking the return of a disastrous condition from 50 years ago.
Let’s talk about stagflation 🧵👇
If you’re not familiar with it, stagflation is the combination of three painful economic phenomena:
1. High inflation 2. Slow or negative economic growth 3. High unemployment
Our parents experienced it in the 70s and 80s. The effects were devastating, and the remedy was costly.
Stagflation is worse than an economic recession.
Stagflation a self-reinforcing financial doom loop, devouring everything in its path. The economy slows down, jobs disappear, and yet—paradoxically—prices still rise.
THREAD: Here's what a dive bar in Memphis taught me about tariffs, global trade, and domestic manufacturing.
(Yes, I'm being serious.)
Let's talk about why it's so hard to produce things in America, what it means for our country, and what we can do about it 🧵👇
Years ago, I worked on a corpdev team at a large industrial conglomerate. This company was a major player in basically every material in the world, from crude oil to glass to fertilizer.
There was only one thing missing: Steel.
So—naturally!—we decided to build a steel mill.
We worked with a boutique investment bank (Ari, if you're reading this, you're still the craziest finance wizard I've ever met), partnered with a major PE firm, wrote an absurdly large check, and got to work building a brand new steel mill in the middle of freaking nowhere.