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Gavin Newsom: “We put $1.9 billion of general fund money to support this…”

Featuring: Gavin Newsom, Democratic | Governor of California

Andrew Yang Has Been Preparing for This AI Moment for Years

Published May 27, 2026 | Video Starts at 09:08

And when the AI wizards develop more innovations, you're somehow getting a tiny, tiny slice of that. We put $1.9 billion of general fund money to support this [baby bonds] program. and to use these accounts for ownership, for capital accumulation, focusing on financial literacy, the notion of compounded investments. And so I'm very appreciative of what you're doing. (09:08–09:13)

CLAIM

Asserts that California allocated $1.9 billion to support the baby bonds program.

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.

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Gavin Newsom

“I think at the time they scored it, what, $2.83 trillion or something like that?”
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“We're now rolling out, working with our what we created baby bonds years ago, before The Trump accounts, 5.5 million California accounts up…”
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“We put $1.9 billion of general fund money to support this program.”
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“Elon [Musk] is turning [the factory] over to humanoid robotics to generate half a million to a million units of humanoid robots.”
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“4x higher suicide rates, deaths of despair for young men and boys.”
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“We're going to have the first trillionaires this year.”
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“UBI [Universal Basic Income] has been a bipartisan idea over the course of quite literally decades and decades.”
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“We [California] put out $35 million of general fund to seven large scale UBI projects.”
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“When you were promoting UBI, you were promoting about $1,000.”
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“California put out $35 million of general fund to seven large scale UBI projects.”
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“We just trued it up additional 5 million. So it's 40 million.”
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“We just trued it up additional 5 million. So it's 40 million.”
Andrew Yang Has Been Preparing for This AI Moment for Years | Uploaded May 27, 2026 | 08:26-08:31
“We're going to get the results of all that in an independent analysis of what it produced.”
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“We created baby bonds years ago, before The Trump accounts, 5.5 million California accounts up to $1,500 for all of our kindergarteners.”
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“Full disclosure, Andrew, was modeled after the bill that we passed here in California, SB53.”
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“The bill that we passed here in California, SB53.”
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“It was a large language model LLM, Frontier Safety and Transparency bill, and just the second in the country and one, by the way, broadly…”
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“Trump came in very enthusiastically, sort of ripped off the band aid, rolled back some of the executive order, at least directionally rolled…”
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“There was efforts to undermine our safety and frontier model legislation led by not just members of the Trump administration and Sachs, but…”
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“It was an effort to preempt states from taking that role and responsibility.”
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“A lot of folks out here in Silicon Valley are actually supporting Alex.”
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“I think he's getting more of his money from California than he even is from Manhattan.”
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“WARN act, the WARN act itself, it seems to me it's worn out its usefulness.”
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“Unemployment insurance seems to me to have worn out its benefit.”
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“What about modernizing the Warren act and having early warning systems?”
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“Businesses can't thrive in a world that's failing.”
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“We should be supporting business formation and entrepreneurialism.”
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“Why do we have a tax system, particularly when productivity and wealth are now being rewarded? Robots, technology, automation. Why are we…”
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“The proof point of that certainly manifesting now at scale here in California, in Fremont, the old factory for Tesla where he was doing…”
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“Elon will be on that list after SpaceX/X AI/ Starlink goes public.”
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“It will be interesting to see what happens with Sam's shop and OpenAI and their IPO in just a matter of weeks, months here.”
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“That kind of wealth disparity, that kind of imbalance between the rich and the poor is the oldest, as Plutarch said, and most fatal ailment…”
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