Gavin Newsom: “The system the American founders built, well was designed to…”

“It's been a, well, nearly 50 year experiment that has failed record. Corporate profits flowed into stock buybacks and executive compensation. It's time to stop pretending otherwise. We're nearing the 250th anniversary of this country's revolution. The system the American founders built, well was designed to prevent the concentration of power in a few hands. But we've allowed that concentration to happen anyway. Slowly and in plain sight over the course of decades and decades. But we can reverse it. We can reverse it together.” (01:53–02:01)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.