reSee.it Video Transcript AI Summary
Ehud: I don’t disagree with anything you said, and I don’t know who he trusts on these kinds of… Who the president really trusts. McDonough? The young guy. But he doesn’t—there was a Samantha Power—Power. No. The difference between who he trusts and who he likes. Larry Turner? She’s an idiot. I noticed that Obama listens to her. His door telephone is always open for her. He listens to her. He believes her instincts about politics, about who is against him, who is for him, what’s going around, who is hooking what from Chicago to the world.
Ehud: But it’s like, do you think Richard Nixon ultimately cared what he listened to, what B. D. Luloso thought?
Ehud: Listen to this: B. B. Robozo—Robozo was some kind of business, semi-corrupt business guy who was Richard Nixon’s best friend. And whenever Nixon went to Key Biscayne or California, B. B. Robozo was there. Nixon would spend a lot of time on B. B. Robozo’s boat. If B. B. Robozo wanted something, Nixon would stay. But I don’t think when Nixon was deciding what to do about open war, he was talking to B. B. Robozo.
Ehud: Valerie Jarrett. So—in this regard, he’s probably alone, but he feels, compared to other leaders I happened to meet in the last decades, Obama impressed me as an extremely autonomous person. He feels good with himself, even when he’s alone in the home. I didn’t see in him what we know in Clinton or in Our Palace. There is anxiety, a need for love, for explicit expressions of love, there’s deep within their personality. I didn’t see anything of this in him.
Obama: I’ve never seen that.
Ehud: There’s lots of things to say. Bob Reich told me a story—Robert Reich, Secretary of Labor—he said Clinton would look at him in a cabinet meeting, and if Clinton looked annoyed or looked away, Clinton would call within two days: “How’s it going, Bob? What’s up? Is there something on your mind?” Obama wouldn’t call. He had lunch alone half the days. He didn’t schedule time to be alone. If he did some event where he spoke to a thousand people, they would give him a little rest time afterwards. He’s human, too. It’s the same: he wants to be with the people. It’s a source of strength in tough moments in politics, probably not the most effective way to mobilize people.
Ehud: Another thing: President of the United States and you like to play golf. It’s a big asset. The President likes to play golf with his buddies—three guys: photographer, campaign guy, three buddies from Chicago. Most presidents played with members of Congress or business leaders; Obama is cerebral, and they gave him the nickname Black Jesus during the campaign. He has a sense of himself as not me, but he’s not like Clinton in that sense.
Ehud: On Iran, the discussion turned to the possibility of surgical operations vs. broader war. The Pentagon developed subtle scalpels, more effective than ours. The goal is to delay the Iranian program by years, but the regime’s strategy is to defend its continuity, to build immunity—regime immunity—against intervention. The Iranians are like Pakistan and North Korea in wanting to avoid being toppled; they want to reach a rational capability that deters intervention.
Ehud: The concern is time: for Israel, time is running out because Iran is expanding centrifuges, improving radars, and even GPS mines in the Strait of Hormuz. The regime’s calculation: they don’t have a timetable; they wait until they can secure immunity against external attempts. An election in Iran matters because it can delay or accelerate compromise, especially if the U.S. and partners are seen to be negotiating during an election year.
Ehud: There was also discussion of the Arab world: Egypt is practical, not purely ideological. The leaders are practical—engineers who understand the need to feed tens of millions, to maintain tourism, the Suez Canal, and the canal economy. The argument was that US leverage matters; Europe is seen as constrained. The topic of how to engage with the moderate Sunni world to isolate Iran and support a regional security framework with the U.S., Europe, moderate Arab states, and Israel was raised. The aim would be to block fundamentalist terror, improve missile defense, and coordinate on Iran.
Ehud: On Israel’s future, there was concern about a two-state approach versus a one-state reality. The Druze, Christians, and other minorities in Israel should be included, and there was advocacy for breaking the Orthodox rabbinate monopoly on marriage and conversions to Judaism to create a more open, plural society. The idea was to advance a plan that acknowledges borders, security, and regional cooperation, potentially with American guarantees.
Ehud: The discussion touched on the possibility of a regional security system, with the moderate Arab world, and Israel as a focal point to manage security and block threats, which would help moderate Arab leaders justify engagement with Israel. The hope was that including the Palestinians and moving toward a regional framework would ease tensions and gain broader recognition.
Ehud: The speakers reflected on the European economy: the Euro, German leadership, and the risk of “Southern Europe” becoming like Southern Italy—stable but with high unemployment and less dynamism. Germany’s role would be crucial in stabilizing Europe, but there was skepticism about rapid reforms. There was also commentary on Japan’s economic stance, with long-term bonds and potential inflation concerns; the risk of deflation versus inflation, and investor behavior in safe assets like US Treasuries.
Ehud: In the financial world, there was talk about the “wall of money” entering markets, with deals in mining and private equity accelerating as rates stay low. There was speculation about who might pay for advisory services and how much compensation one could demand as a trusted adviser. Potential clients included sovereign wealth funds, private equity, and wealthy individuals who would value access to connections with prominent financiers and policymakers.
Ehud: The conversation then shifted to Ehud’s post-government plans: he’s considering private equity, hedge funds, board roles, and advisory work. He discussed working with high-profile firms like Lookout (a cybersecurity firm), Palantir (Peter Thiel’s company), and Andreessen Horowitz, and he weighed the value of joining boards or advisory roles for significant compensation. There was talk of opportunities with Tony Blair and Panetta’s Foundation, and about leveraging relationships with influential figures like Petraeus and Panetta for strategic advisory roles.
Ehud: The two discussed a potential collaboration involving a security-focused venture in which they would assemble a leadership team and pitch to sovereign wealth funds. They debated whether to pursue exclusive arrangements and how to structure compensation—whether high upfront fees or performance-based bonuses would be appropriate, given the urgency of opportunities and Ehud’s age.
Ehud: There was talk of a German SPV structure to unlock value in suppressed German DACs, with a plan to acquire large German companies by taking minority stakes and reorganizing boards to bypass unions and passive shareholders. They described a Luxembourg or British Virgin Islands wrapper to enable financing and governance changes, and the goal of creating a management-driven, high-return vehicle akin to Berkshire Hathaway, with operational control over large assets.
Ehud: They discussed approaching sovereign funds (Singapore, UAE, China) and state-owned investors to back restructured German companies, leveraging relationships within the German business world and the French/European regulatory environment. They explored the possibility of static, long-term advisory roles with leaders in global finance and industry, and using those platforms to drive value.
Ehud: They also explored private-equity opportunities in other sectors—cybersecurity, infrastructure, mining, and even defense. They discussed the possibility of working with individuals like Klaus Kleinfeld (former Siemens exec, Alcoa head) and others to place Ehud into advisory or board roles, and whether to pursue roles that could yield immediate money while also enabling longer-term influence.
Ehud: The conversation closed with practical steps: define concrete opportunities, gather numbers and returns, determine what the partners want (exclusivity, timeframe), and set a deadline for offers. They agreed to pursue a formal offer by March 14-20, with a final decision by April 1. They emphasized the need for crisp, precise positioning due to Ehud’s age, and to avoid overpromising. They planned to meet again, compare offers, and decide which path to take—whether with a security-focused outfit, a financial advisory role, or a combination of both.
Ehud: The sense was that there are many opportunities for people with connections and credibility, and that the next few years could see rapid development in advisory services, sovereign wealth–backed deals, and strategic investments across defense, cybersecurity, and regional security. The overarching theme was leveraging decades of experience to match high-potential opportunities with the right partners, while navigating regulatory, geopolitical, and reputational considerations.