Mr. O'Leary's Demotions

The Chief Financial Officer of New America Acquisition I Corp, George O'Leary,  resigned recently.  

New America Acquisition I hit the newswire in August 2025 with its recruitment of the Trump boys to its Advisory Board.

In the multi "full time job" world of insiders Eric and Don Jr. have few peers.  After the boys joined New America Acquisition I Corp, George O'Leary lost his board slot (February 2026).  Then he lost his CFO slot (August 2026).  

Nearly three years ago George O'Leary expressed a desire to sit down with fellow Palm Beacher Trump II to discuss solar energy and the important role it could play going forward.  

I'm pretty sure that meeting never happened.  Did George's invite begin the long series of demotions and terminations from New America Acquisition Corp I?  Or did he do something different to piss off the boys or their old man?  We may never know.

PEU Jed York Sought "Full Service" Sexual Activity

San Franscisco 49ers owner and Aurum Partners CEO Jed York was caught prior to pulling his pants down.  

East Palestine Police arrested York at a planned paid sexual meetup in an Ohio trailer park.

York is a venture capitalist/private equity underwriter (PEU) with Aurum and previously worked with Guggenheim Partners. 

Fellow sports team owner Mark Walter is under a different kind of investigation for his insider dealings at TWG Global and Guggenheim.  

New England Patriots owner Bob Kraft dealt with charges for hiring trafficked sex workers several years ago.  Kraft was not the trafficker of those women.  He was just the billionaire john.

What prevents some people from keeping their dick in their pants or avoiding blatant conflicts of interest in their billions in assets?  It could be that PEU aura.  They are used to getting their way.

Note that York got off light.  That's because politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one.

LIV Golf Gets PEUd

Professional golfers may soon go through the same grinder federal workers faced under DOGE and corporate employees experienced after a PEU (private equity underwriter) buyout.  

Investors have their operating model and it generally comes with lots of pain for staff and new crappy technology.  

Players' "buy in" means significantly less compensation or no contract at all.  The stars may get to roll their former pay into an equity stake but then again, they may not.

PIF is selling on the very cheap or giving away their equity in LIV.  When will the mystery investor(s) reveal themselves?  Might there be political connections to the political Red Team?  Trump II would love to keep hosting their tournaments at his golf courses.

Politicians Red & Blue love PEU and their new TechGod brethren and increasingly, more are one.  

Lonsdale's Push to Criminalize Homelessness

TechGod Joe Lonsdale and his wife formed a think tank to address societal problems.

He wants the homeless off the streets, at least at night.  Exactly how this "saves capitalism" or deals with the myriad of root causes of homeless is unclear.

Cicero pushes forced addiction treatment for homeless persons.

Lonsdale stands to profit from addiction treatment through at least two 8VC affiliates, Tempero and Ritten.

A third stands to gain. Halo Health which addresses primary mental healthcare, both in person and virtually.

Also, 8VC has Galileo which delivers mental health services to underserved persons with complex and chronic conditions as part of its healthcare model.  Hopscotch Primary Care does as well in its focus on rural communities.

Joe believes in stewardship to limited partners, which is definitely not the homeless or other little people.

He believes in patriotism but may side with the widespread position that criticism of Israel is automatically anti-Semitism.  

When the colonists arrived in the free world didn't they have to camp outside? 

Gotta love the liberty loving TechGods who suckle up to Uncle Sam's bank account in venture after venture after venture.  

Add their getting government to make it a crime to sleep outside or criticize the State of Israel, as well as force people into addiction treatment, and they seem even further from their libertarian roots.

TechGods and the LP class enjoy superior influence on elected officials as today's landed, equity holding gentry.  AI is going to unemploy people and Joe wants them jailed once they lose their home.  

The greatest irony might be TechGods made billions from leveraging addiction.....and they may make billions more from that treatment.

The AI Dongularity Encroaches

AI will "cure cancer" and give everyone "a penthouse."  These are the promises of TechGods.  

The reality may be far different.  

As for the quality of TechGod leadership...it is clearly lacking:

Rushing crappy tech to market has a rich long history for those who've experienced vapor or error-ware.

We now have slop-ware.  Customer support!  Face cleanup on page 7.  

China has nothing to do with my wish to not have a data center nearby.  Actual communications from Beacon Data Centers executives are the cause.  Vague and ever changing answers arose from Canada, not Beijing.

TechGods and their private equity underwriter (PEU) financiers control corporate strategy and steer government attention away from their money making ventures while directly facilitating their further enrichment (already at obscene levels)..

Democracy is supposed to reflect the majority.  That has not been the case for some time.  People have long wanted healthcare costs to go down, for the wealthy to bear a greater tax burden, for the U.S. to not intervene militarily across the globe and for leaders to be honest and not manipulate voters.

The workplace is not a democracy but people expect to be treated decently.  Workers don't like seeing output quality disrupted or incapable processes put in place.  AI does both.  Bonus, it's addictive.  It becomes even more tiresome as TechGods lurch from one priority to another.  

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and for that the common person suffers.

Update:  Business Insider noted:

Is it a Chinese psy-op? Are Americans ignorant? Or are tech bros just completely out of touch? 

Tech leaders across the country are full of ideas about why Americans are in a furor against data centers, positing theories on social media that range from practical to patronizing.

Maybe we don't like insufferable people who lie, manipulate and deceive.

  

That PEUs, TechGods and elected officials are coalescing into one could be the dongularity.  

Update 8-24-26:  Time ran a piece by a Northeaster University professor showing TechGods are all over the place and "disinterested in philanthropy or profit sharing" while avoiding taxes and taking huge government subsidies.

the future isn’t something we build together. It’s something they get to build on our behalf. 

What makes this eschatology dangerous is that it is held by the people with the most resources to act on it. Musk, Altman, and Thiel aren’t theologians speculating about the end times. They’re building the thing their theology tells them is coming, funding the politics that protects their ability to build it, and treating anyone who asks them to slow down as a luddite or Antichrist rather than a citizen with a legitimate concern. A belief that the present doesn’t matter, held by people with the power to shape it, doesn’t stay a belief. It becomes policy, product, and precedent, with tech bros deciding the future on behalf of everyone else, without anyone else’s consent.

And a pox on all their corporate houses and lobbying firms...

Trump II Clueless & Careless

When PEU executives change an affiliate's operating model, chaos ensures and quality plummets. It's the price of disruption and many U.S. workers have lived through such efforts where tech replaces people.

TechGods imitated the PEU model on behalf of Trump II.  They called it DOGE.  I called it DOUGEBAG.  That stands for Department of Ungodly Greedy Executives Biased Against Government.

Much has been destroyed.  It can be seen in NOAA with less accurate weather forecasting, the Center for Disease Control with environmental surveillance dismantled and various diseases running amok,  as well as our National Parks which serves as the slush fund from which Trump II reshapes Washington, D.C.

For the CDC deterioration Fortune noted: 

Led by then-adviser Elon Musk and the Department of Government Efficiency, the cuts affected researchers, scientists, doctors, support staffers and senior leaders, leaving the government without many of the key experts who long guided U.S. decisions on medical research, drug approvals and other issues.

  

In the case of NOAA Forbes cited:

Experts told Forbes that there are simply fewer weather monitoring instruments being used today than before agencies like the NOAA suffered cuts under the Trump administration. 

According to the report there are fewer buoys measuring wave conditions than in 2024, and fewer weather balloons being launched to collect data on air pressure, temperature, humidity, and windspeed. That data feeds weather models, which is then used to build forecasts by weather apps and local forecasters. 

One program, enacted 20 years ago to measure arctic ice, was recently cut by the Trump administration. 

Plans for a next-generation weather satellite meant to replace two older, faltering structures that may begin to fail in the next several years have been scrapped.

As for National Parks its conservancy stated:

“A cut this massive would be catastrophic. After a year of deep staffing cuts, dwindling resources, and attacks on history and science, park staff are already at the brink. Park maintenance needs are growing, protections are eroding, and visitor experience is declining. This proposal would only accelerate the damage, putting our national parks at even greater risk and further cutting the park staff needed to care for our national treasures. 

“At the same time, the administration appears to be prioritizing a vague set of new construction projects across Washington, DC, proposing $10 billion for this program alone, which is more than three times the annual budget of the National Park Service. We support efforts to modernize and repair park infrastructure but not when it’s paired with massive cuts to Park Service operations."

Trump II's arrogance and incompetence will not be stemmed up by AI, robots or other items paraded about by his PEU supporters and the TechGod cabal who look the other way in return for political power, low taxes, government subsidies and access to Uncle Sam's wallet.

People, i.e. voters, don't like what they see.  

A majority of young adults are now more worried than enthusiastic about the growing role artificial intelligence (AI) has in their daily lives, according to a Pew Research survey released Tuesday. 

Among adults ages 18 to 29, 55% said they were more concerned than excited about AI, while just 11% said they felt the reverse.

We've seen the impacts of Elon Musk's major tampering of government which saved no money and caused actual harm.  

His dangling of AI's ideal future feels like a TechGod manipulation.

We seek Trump II spending like there is no tomorrow on wars and reshaping our nation's capital in his image ad nauseam.  

We see the PEU/TechGod club getting their way (over and over and over) while cretins and creeps "run" federal government operations into a symbolic Death Valley (the lowest place in the U.S.).

Lord help us.  Lord protect us from Old Testament Kings, their Centurions and the many usurpers of your realms.  Hear our prayer.

Update 8-25-26:  A Florida weatherman lamented the destruction of weather data collection that serves a the basis for forecasts.  He is not the only concerned scientist.

One would be wise to remember TechGod sales talk can turn into a "puffery" defense, a skillfully executed by The Carlyle Group after Carlyle Capital Corporation imploded in early 2008.

TechGods are doing a whole lot of huffing and puffing...

Ringing the Alarm on PEUnnuities

Bloomberg wrote about Leon Black before he stepped down as head of Apollo due to "health reasons" (translation:  his long term relationship with Jeffrey Epstein).  Their story included:

Apollo was busy building Athene, the insurer that would become its main source of cash. Apollo helped fuel its own growth by funneling Athene’s money into Apollo funds and collecting management fees on the investments. The arrangement drew the two companies even closer together. As Athene assets swelled at the end of 2013, it became clear to Apollo executives they were sitting on a gold mine. Rowan pushed a measure through the insurer’s board to double the fees it paid Apollo, raising them to more than triple what a typical manager would get, according to people familiar with the matter. (Apollo says it has delivered significant value to Athene and that the insurer benefits from its support, including tax, legal, and financial services.) The insurer has made Apollo the envy of Wall Street. Athene now generates a quarter of Apollo’s fee-related income, but it’s also drawn scrutiny from officials. The relationship between the companies is so intricate, says one former employee, that it would take regulators a year to understand it.

Private equity underwriters (PEU) cut their teeth packaging funds for endowments, pension funds, sovereign wealth funds and family offices.  It's much easier when the PEU owns the capital pool, as is the case with insurance companies.  

Many corporate pension funds have outsourced their pension liabilities to PEU owned life insurance companies via the purchase of annuities.  This shifts the liability for guaranteeing that pension from the employer to the state regulated life insurance company (PEU owned).  

Government regulators at the state and federal level are OK with the switch and apparently have no concerns about the quality of investments backstopping those contracts.  

Many financial experts have become concerned about PEU firms loading up their insurance affiliates with their own offerings.  Owner sells to owned insurance company its packaged investment offerings.  There is only one very strong arm in this deal.  Nothing is arm's length.  

Bond guru Bill Fleckenstein of Fleckenstein Capital noted the size of these conflicting relationships: 

Apollo has placed $227 billion of its deals into Athene US Life, its captive life insurance company; KKR has placed $163 billion of its deals into its Global Atlantic; Blackstone has put $209 billion into its Fidelity & Guaranty, Everlake, and Resolution Life; Brookfield has placed $90 billion into its American National, and so on."--Dan Oliver of Myrmikan Capital

Carlyle has Fortitude: Re "to sell" into.  

Their most recent 10-K states:

Carlyle FRL owns a controlling interest in Fortitude and has the right to appoint a majority of its board of directors. As a result, there may be real or apparent conflicts of interest with respect to matters affecting the Company, Carlyle-managed funds, and their portfolio companies and Fortitude, including with respect to the fiduciary duties that our employees that are board members owe to Fortitude in addition to the duties that they have to the Company. In addition, conflicts of interest could arise with respect to transactions involving business dealings between the Company, Fortitude, and each of their respective affiliates. The foregoing conflicts of interest may also arise with respect to subsidiaries of Fortitude.

Recall that this is what got former Lakers owner Mark Walters in trouble.  Walters loaded up his captive insurers with his affiliates' debt, while misrepresenting the size and scope of those holdings.  

Walters is connected so it will be interesting to see how his situation plays out given that politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one. 

Update 8-24-26:  Bill Fleckenstein summed it up with:

The PE industry really is despicable in so many ways.