Liz Hoffman: Why We Are So Pessimistic About a Resilient Economy

Today on the Gist, digging into the rhetoric around California's Proposition 36 and examining how advocacy groups frame low-level arrest statistics to push the narrative of mass incarceration. Then, Semafor's Business and Finance editor and Compound Interest podcast co-host Liz Hoffman returns to the show. She discusses the bizarre disconnect between a strong economy and sour consumer sentiment, the fading legal backlash against social media companies, and how the massive wealth generated by AI startups could severely worsen the wealth gap. Finally, in the spiel, an analysis of the California gubernatorial race and why Katie Porter is struggling in the polls despite her high name recognition, viral moments, and status as the only woman on the debate stage. Produced by Corey Wara Video and Social Media by Geoff Craig Do you have questions or comments, or just want to say hello? Email us at ⁠⁠⁠⁠ thegist@mikepesca.com For full Pesca content and updates, check out our website at ⁠ For ad-free content or to become a Pesca Plus subscriber, check out ⁠⁠⁠⁠ For Mike's daily takes on Substack,

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Liz Hoffman: Why We Are So Pessimistic About a Resilient Economy is an episode from The Gist by Mike Pesca.

This episode is 00:37:32 long.

This episode was published on May 1, 2026.

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