Varn Vlog

Jamie Merchant, the author of Endgame, joins us to talk about the current chaos. Start with the spectacle and you miss the structure. We step past the daily outrage to map Trumpism as a regime built by a new insurgent fraction of capital—tech oligarchs, private equity, and venture investors—who are eager to smash norms, rewrite rules, and route public money through tariffs, defense contracts, and boutique industrial policy. Their rise squeezes out the old asset-management establishment, pushe...