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Trump’s Reality Show Nonsense Meets Real Grifting

Amid significant developments connected to the Trump family and its associates, a notable distraction emerges as Trump’s Transportation Secretary unveils a poorly-timed reality show. This, coinciding with an AI company’s launch of a staggering $4.8 billion IPO, underscores the ongoing blend of absurdity and corruption within the Trump 2.0 administration.

The current dynamics also reveal internal power struggles within Trump’s circles, momentarily restraining at least one prominent figure associated with the controversial regime.

Starting with the Absurd

Sean Duffy, the Transportation Secretary, may not have the recognition of notable figures like former DHS head Kristi “ICE Barbie” Noem or her partner Corey Lewandowski, but he’s certainly making an effort to raise his profile through a new YouTube reality show.

This show is receiving extensive coverage from mainstream media:

NBC expresses skepticism:

“The Great American Road Trip,” a five-part reality series set to air on YouTube in honor of the United States’ 250th anniversary, features Duffy on a road trip across the nation with his wife, Fox News host Rachel Campos-Duffy, and their nine children.

Duffy’s reality TV roots date back to 1997 when he appeared on MTV’s “The Real World: Boston” and later met Campos-Duffy on “Road Rules: All Stars.”

Critics have deemed the show tone-deaf, especially as fuel prices have surged to over $4.50 per gallon, a rise of approximately 50% since the onset of the conflict with Iran in late February.

Some viewers bluntly criticized the show, equating it to “going on a foodie tour during the Great Depression.” Another viewer remarked: “Americans are struggling to afford gas and groceries while these two reality TV and Fox News figures enjoy lavish trips with celebrity encounters. Read the room, Mark and Marie Antoinette.”

Duffy contended on social media that production costs were covered by a nonprofit, The Great American Road Trip Inc., claiming that neither he nor his family profited from the project. Sizemore confirmed that the covered expenses included gas, car rentals, accommodation, and activities, clarifying that taxpayer funds were only used for official travel.

However, critics raised serious conflict-of-interest concerns since several sponsors of the show — including Boeing, Toyota, Shell, Royal Caribbean Group, and United Airlines — fall under Duffy’s departmental oversight.

The absurdity escalated further when former Biden Transportation Secretary Pete Buttigieg and his spouse Chasten clashed with Campos-Duffy online. For those seeking more sensational details, the Daily Beast has the scoop.

Yet, beyond this spectacle, more serious matters are unfolding.

Trump and UAE-Linked Cerebras Pursue $4.8 Billion IPO

The Wall Street Journal provides an overview of the IPO (archived):

Cerebras Systems is set to offer 30 million shares at an anticipated price of $150 to $160 each, an increase from the initial plan of 28 million shares priced between $115 and $125.

If successful, the IPO could raise $4.8 billion at the higher price point.

Cerebras, a startup specializing in chips customized for advanced AI processing, is expected to make its trading debut Thursday under the ticker CBRS.

These chips are tailored for inference workloads, essential for AI models to respond to user queries, and demand has surged as AI labs shift from training to implementation.

Thornton McEnery of Moby analyzes the IPO and its timing in a piece titled “Cerebras Doubles Its Pre-IPO Valuation in Three Months… Cool”:

The IPO market is revitalizing, with Wall Street treating every listing as a preliminary act for an anticipated blockbuster: SpaceX. While this IPO parade seems to prelude Musk’s rocket company, it reveals a significant hunger in the market. Enter Cerebras Systems.

The market’s appetite is evident.

Cerebras raised its IPO price range to $150-$160 a share, up from $115-$125 just the previous week. At the peak, Cerebras stands to gain $4.8 billion in proceeds and attain a valuation of $48.8 billion, soaring from its February valuation of $23 billion. It seems investors are not feeling skittish.

The selling point is straightforward: Cerebras produces chips that outpace Nvidia’s GPUs in speed and efficiency, a fact that prompts AI infrastructure investors to eagerly reach for their funds. OpenAI has invested over $20 billion in Cerebras, which is integral to their code-writing model. Additionally, AWS has announced plans to incorporate Cerebras chips into its data centers, signaling a significant endorsement.

Connecting the dots to Trump and the UAE, we turn to Reuters’ report from last September:

Cerebras Systems, a Silicon Valley startup aiming to rival Nvidia, recently announced it raised $1.1 billion and welcomed 1789 Capital, the venture firm where Donald Trump Jr. serves as a partner.

This deal included investments from Tiger Global, Valor Equity Partners, and 1789 Capital, with Cerebras’ CEO Andrew Feldman stating that 1789’s investment was driven by Paul Abrahimzadeh, an investment banker and Citigroup veteran, who previously assisted in leading an IPO for Cerebras.

Cerebras filed for an IPO on Nasdaq last year, though it faced delays due to a U.S. security review concerning a $335 million investment from G42, an Abu Dhabi-based cloud computing and AI firm.

Last autumn, there was optimism surrounding a collaboration between Cerebras and the UAE for what was called the Gulf State Stargate, as noted by Reuters:

AI chip startup Cerebras Systems aims to establish its infrastructure in the UAE to bolster the Gulf state’s burgeoning AI sector as well as markets in India and Pakistan, according to CEO Andrew Feldman.

“I’m immensely confident that there will be significant clusters of our equipment here,” which will include “megawatts worth of machinery” for the Stargate project, referring to the planned set of AI data centers outside the United States.

Details of this initiative’s progress remain unclear amidst the ongoing conflict with Iran, which has left the UAE somewhat vulnerable, but the project is not limited to one location.

TechCrunch highlights the collaboration between G42 and Cerebras in India:

G42, based in Abu Dhabi, has partnered with Cerebras to provide 8 exaflops of computing power through a new supercomputer system in India, announced at the India AI Impact Summit in New Delhi.
The system will adhere to local data residency, security, and compliance protocols, aiming to deliver computing resources for AI applications across educational institutions, government agencies, and small to medium enterprises.

Also involved in this project are Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and India’s Centre for Development of Advanced Computing (C-DAC). Last year, MBZUAI and G42 unveiled Nanda 87B, a large language model trained to understand conversational Hindi and English.

Concerns about the Trump family’s diverse business ventures during wartime are mitigated by their expanding interest in drones.

Trumps Invest in Drone Technology

Bloomberg reports:

The US Air Force has agreed to purchase an unspecified number of interceptor drones from a company backed by Donald Trump’s sons, further solidifying the military’s connections with defense contractors associated with the first family as the US conflict with Iran continues.

The West Palm Beach-based firm, Powerus, is set to supply drones to the Pentagon following a successful demonstration in Arizona, as reported by co-founder and president Brett Velicovich.

Given the firm’s association with Donald Trump Jr. and Eric Trump, the deal could garner scrutiny.

Instead of pursuing an IPO, Powerus plans to merge with Aureus Greenway Holdings Inc., a golf-course operator tied to the Trumps that is already publicly traded on Nasdaq.

Democratic lawmakers have requested the Pentagon provide more information about other defense contractors connected to the president’s family. In addition to Powerus, Eric Trump has facilitated a reverse-merger deal between Israeli drone manufacturer Xtend and JFB Construction Holdings, a publicly listed company.

In response to concerns about their business relations during their father’s second term, the Trump sons maintain their position as private businessmen.

Well, that clarification is reassuring.

To conclude this overview of the Trump administration’s recent exploits, we reflect on the precarious position of former favorite Stephen Miller.

Stephen Miller Faces Setbacks

The Atlantic aptly titled its article “Stephen Miller in Retreat” (archived), a phrase that resonates with me as a sense of relief amid changing tides.

Here’s what was reported:

The deputy chief of staff and homeland security advisor spearheaded Trump’s immigration agenda for his second term. However, within weeks of the new year, the president dismantled the Border Patrol strike forces Miller had advocated for, severed ties with Noem — who previously executed Miller’s orders — and reinstated control of the deportation program to seasoned law enforcement officials.

Sources within the White House indicate that while Miller remains a key advisor, his influence might be waning. Immigration enforcement continues to be a primary focus for the administration and is likely to be a focal point in Trump’s messaging for the midterm elections. With a long-standing relationship built over a decade, those close to Trump say Miller has adapted to the administration’s evolving agenda. “The President cherishes Stephen,” asserted White House Communications Director Steven Cheung. “And the White House staff holds him in high regard.”

The reversal is striking given Miller’s significant role and the breadth of his influence, akin to that of Vice President Dick Cheney in the early 2000s.

In summary, as the Trump family navigates both public and private interests amid significant geopolitical events, the entwining stories of reality shows, AI endeavors, and military contracts highlight a complex landscape filled with distractions and serious undertones.

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