m going to put you on blast basically because the reaction would be quite severe or you could take this conversation, he doesn't say this but sort of conceptually, or you could take this conversation as your fake. Because I've taught you that in persuasion there's a thing called a fake because it's the reason that you give because it sounds good but it's not the real reason. I think the real reason that Nissan is backing off on DEI is that management really wanted to back off on DEI like really really wanted to. Just didn't have a way. So now they can say oh the activist got us. Ah we tried to do this DEI but the activist was going to make a big deal and oh by the way Trump got elected and he says it's illegal so we don't want to be on the wrong side of the law and we don't want to expose our shareholders to this activist attack. So this is the reason we're backing off. It's a fake because they want to back off. I promise you most big companies want to get rid of it and they want it badly at the executive level.

All right here's a question that I know some of you will get quite worked up about and I'm going to disagree with you. And that's one of the ways that I hope I establish credibility. If you can't disagree with the people you're talking to sometimes you're probably not very credible. So here's where I disagree with you and I'm going to disagree with Steve Bannon who I generally think is on the right page for just about everything. So if I disagree with Bannon that's notable. And so listen for the disagreement.

So Bannon said he's also for big restrictions on legal immigration. He says every college and engineering school is flooded with foreign students taking American jobs. So far that's true. I will agree with that statement. And he said American jobs should be for Americans. Well I mean in principle you know I lean in that same direction. But here's my take. I'm going to give you one sentence to argue against Steve Bannon. Now remember Steve Bannon is very engaged in this topic. I believe he probably knows more background about the specifics of people being trained here and then staying here than I do. I'm going to give you one sentence and then I'm going to completely win this argument. You ready? One sentence. Whoever has the most engineers wins. That's it.

So if we're training people in American colleges to become American doctors that might be a bad idea because doctors actually don't make a lot of money anymore because there are enough doctors. So if they're going to a school in America to become DEI directors I think maybe we should ship them back after they get the degree. Thanks for coming. If they want to work for a sales organization ship them back. If they went to college to learn how to be really good at marketing ship them back. Ship them back. But in the world in which we live whoever has the most engineers wins. Why does Israel have a commanding advantage in the Middle East over its allies? Engineering. I miss lots of other things but they have good engineers. Why does America do so well? Engineers. Right? There's no, I don't think that you'll find an exception to this.

So where I disagree with Steve Bannon is never say no to engineers. Never say no to engineers. Never ever ever ever. There's no situation where that's going to work out for you. You know unless you're trying to see how many you fit in a phone booth or something. But if you're talking about the country, engineers add to the economic growth of the country fairly reliably. Right? Not every engineer every time but as a group the countries with most engineers have the best economies. Why does South Korea have a great economy? Engineers.

All right so I think I would ask Steve Bannon to investigate that assumption. Now I'm using engineer to maybe double for other technical jobs where we don't have too many people but you can't have too many engineers because they start their own companies if they can't get hired.

Did you hear about, I've asked you this before but have you heard the story about the highly qualified Black American engineer who couldn't get a job at a good corporation? So he had an MIT education, engineer, no bad things on his resume, whatever, just solid, solid, great engineer. He's a Black American but he couldn't get a job because of all the foreigners. Have you heard about that story? No you haven't heard that story because it never happened and never can. Every single Black engineer who went to a good school has a job at a big corporation and three more offers. You can't get enough engineers. Nobody's being hurt by bringing in engineers. And if you spend 10 minutes in the Valley yo