The 50-Year Economic Collapse That Created Socialism Is Happening Again Right Now | Impact Theory w/ Tom Bilyeu & Daniel Priestley

Tom Bilyeu's Impact Theory

Impact Theory

Business, News Commentary, News

4.7 • 5.2K Ratings

🗓️ 21 May 2026

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

What's up, guys? Today, I am fired up to bring you an essential episode with serial entrepreneur, author, and economic thought leader Daniel Priestley. Daniel is an expert on entrepreneurship, the future of work, and how technology is driving long-term societal disruption. With a powerful grasp of history and a keen eye on where things are heading, Daniel breaks down everything you need to understand about economic revolutions, inequality, and why socialism is suddenly such a big talking point. In this conversation, Daniel and I dive deep into how AI, rising inflation, and broken social contracts are setting the stage for massive change—and what that means for all of us. He shares the blueprint history provides for moving beyond economic stagnation, what fuels resentment and unrest, and why understanding competition, ownership, and values is vital if you want to thrive in today’s world. By the end of this episode, you’ll walk away with a clearer understanding of the real drivers behind economic turmoil, why surface solutions like simple wealth redistribution miss the mark, and how you can position yourself to survive and win, no matter how crazy the system gets. If this episode brings you value, please leave us a review—it’s the best way to help us reach more ambitious minds like yours who are ready to break through and unlock their potential. I’m Tom Bilyeu, and welcome to Impact Theory. Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderQuince: Free shipping and 365-day returns at https://quince.com/impactpodAT&T Business: Switch to AT&T Business at business.att.com Incogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact Netsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/Theory Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impact Monetary Metals: Future-proof your wealth at https://monetarymetals.com/impactPique: 20% off at https://piquelife.com/impact What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.: https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Follow Daniel Priestley:Instagram: https://www.instagram.com/danielpriestleyTwitter: https://twitter.com/DanielPriestleyLinkedIn: https://www.linkedin.com/in/danielpriestleyWebsite: https://danielpriestley.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Some follow the noise. Bloomberg follows the money, whether it's the funds fueling AI or
0:06.8	crypto's trillion dollar swings. There's a money side to every story. Get the money side of the story.
0:13.6	Subscribe now at Bloomberg.com.
0:18.0	The thing with socialism, it sounds obvious. It's like, hey, you've got one group of people who are
0:22.9	billionaires and rising class and they can afford 10 houses and private jets. And it sounds so obvious
0:29.0	that you would just take the money off those guys and give it to people who can't afford to eat.
0:33.1	How could you be so daft as to not go in for that? Anyone who looks at the problem on the surface, it's like, what are we all thick? Take money off the guy who's got a private jet and give it to the person who's struggling to feed their children. That is the most obvious thing in the world. Daniel Priestley, welcome back. I'm so glad to be back. Thank you. It's good to have you. I'm on your turf this time. So it'll be,
0:55.1	it should be a very interesting conversation. Yeah, I love the fact you're in London. It is a
1:00.3	spectacular city that I think has a lot to teach us about economics. So it'll be interesting to have this
1:06.8	here. We're living in such a palpable example of some of the things that I think are
1:12.2	in need of answers. So there's something going on right now where the social contract is broken
1:18.6	in some kind of way. You've got AI looming in the background. And suddenly, socialism is the
1:25.1	most exciting political idea on offer.
1:28.3	What is it exactly that has led us to that being so exciting?
1:32.3	So if I was to say what's actually going on in the world right now,
1:36.3	we're going through a big, long-term disruption.
1:40.3	So there's little disruptions that might happen every five to ten years,
1:43.3	and then there are big disruptions that might happen every 70, 100, 200 years.
1:48.8	And I often talk about the Industrial Revolution because it was the last time we had a really
1:54.0	big wholesale change to the economy.
1:56.6	Let me start at a strange point.
1:58.5	If we were to talk about the fundamentals of economics, because we're talking about economic systems, we had this period of time called the Engels Paws, nothing worked, we had inequality.
	...

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