Ravi is joined by hedge fund founder Spencer Hakimian for a deep dive into the state of the U.S. economy under Trump. They begin with the firing of the head of the Bureau of Labor Statistics, a move that raises urgent questions about data integrity and the politicization of economic institutions. From there, they discuss Fed Chair Jerome Powell’s likely exit and what Trump’s next appointment could mean for the future of the Fed. Finally, Ravi and Spencer assess the growing risk of stagflation and share how they’re personally thinking about everything from gold and short-term bonds to international stocks and AI-fueled equities in this uncertain environment.

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August 2025 marks 20 years since Hurricane Katrina altered New Orleans forever. Much has been written about the storm’s destruction and the city’s long road to recovery. But tucked behind those headlines is another story. One that shaped the lives of thousands of children.

From The Branch in partnership with The 74 and MeidasTouch, Where the Schools Went is a five-part documentary series about what happened to the city’s schools after the levees broke, and how it led to the most radical education experiment in modern American history.

The first episode drops next Tuesday, August 12! Listen and subscribe on Apple here and on Spotify here.

Ravi opens the show by diving into the latest headlines, from Trump's reluctance to rule out a pardon for Ghislaine Maxwell to the latest attacks on FEMA and the US. dollar.

He then welcomes Gisela Salim-Peyer to the show to discuss her latest piece in The Atlantic, No One Was Supposed to Leave Alive. Gisela shares more about her investigation into El Salvador's mega-prison, where some individuals based in the U.S. have been sent without due process. Ravi and Gisela examine the legal gray zone CECOT operates in, the recent Venezuela-U.S. prisoner swap, and what it all reveals about the U.S. immigration system and authoritarianism abroad.

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Ravi kicks off the show with the latest update in the Epstein scandal — a resurfaced birthday letter allegedly sent from Donald Trump to Jeffrey Epstein. He unpacks the implications of Trump's denial, the GOP's strategic calls to "release the list," and what's really at stake in the fight over grand jury testimony. From there, he turns to Trump's latest attacks on Obama, FEMA, and the U.S. dollar, connecting the dots between the President's social media meltdowns, a hollowed-out disaster response agency, and the economic fallout of chaotic trade policy.

Carter Sherman then joins the show to talk about her new book, The Second Coming: Sex and the Next Generation’s Fight Over Its Future, which explores Gen Z’s shifting attitudes toward sex, porn, dating apps, and sexual education. Ravi and Carter discuss how digital culture, incel ideologies, and the collapse of comprehensive sex ed are shaping the next generation’s understanding of intimacy and power.

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Ravi unpacks a chaotic week in politics, with Trump’s Epstein scandal spiraling into an unprecedented crisis for his MAGA coalition. He explores how conspiracy thinking fuels Trump’s base and why this case feels different.

Next, is America’s crisis infrastructure at risk? Ravi reviews FEMA’s botched disaster response in Texas. He then turns to the president’s recent erratic shifts on Ukraine and the economy and why they may signal a looming economic storm, linking Trump’s tariff threats, service sector pressure, and politicized debt policy to potential stagflation.

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Ravi welcomes The Atlantic’s Tyler Austin Harper back to the show for a wide-ranging conversation on some of the week’s biggest headlines, from the Diddy verdict and the dangers of prosecutorial outreach to Bernie Sanders’ recent appearance on Rogan and Trump’s escalating legal attacks on the press.

They then turn to Zohran Mamdani’s win in the New York City mayoral primary and explore what the victory suggests about shifting ideas of political “moderation” and deep divides within Democratic messaging.

Finally, Ravi and Tyler dive into Tyler's recent piece, "What We Lose When We're Priced Out of Our Hobbies," reflecting on the value of personal passions and their growing role as a political and social force.

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Ravi is joined by Bradley Tusk to break down one of the wildest political upsets in recent memory: Zohran Mamdani’s decisive win in the New York City mayoral primary. They unpack how it happened, why Cuomo flamed out so badly, and what Mamdani needs to do next if he wants to govern the city.

From campaign strategy to trash collection, rent freezes to charter schools, Ravi and Bradley dive into what kind of mayor Mamdani might be and what it will take to make the leap from activist to executive. They also discuss how current Mayor Eric Adams will fare running as an independent in the general, if Cuomo may try to jump back in, and what the national Democratic establishment is getting wrong in their rush to draw lessons from this race.

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Are Israel and Iran on the brink of war? Ravi takes a closer look at the rapidly escalating conflict and the unsettling possibility that the U.S. is more deeply involved than most Americans realize. He also explores the growing battle within MAGA over America’s role on the global stage, the political opportunism accompanying the recent wave of political violence, and how the Trump administration’s threats to ramp up deportation efforts could upend key industries that rely on undocumented workers.

Patrick McGee then joins Ravi to discuss his new book Apple in China, a sweeping investigation into Apple’s entanglement with the Chinese state. They discuss how one of the world’s most powerful companies may have supercharged America’s biggest geopolitical rival and what that means for the future of geopolitics, tech, and our iPhones.

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Learn more about Ravi's novel: GARBAGE TOWN

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Follow Ravi at @ravimgupta

Follow The Branch at @thebranchmedia

Notes from this episode are available on Substack: https://thelostdebate.substack.com/

Lost Debate is available on the following platforms: 

• Apple: https://podcasts.apple.com/us/podcast/the-lost-debate/id1591300785

• Spotify: https://open.spotify.com/show/7xR9pch9DrQDiZfGB5oF0F

• YouTube: https://www.youtube.com/@LostDebate

• Google: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vTERJNTc1ODE3Mzk3Nw 

• iHeart: https://www.iheart.com/podcast/269-the-lost-debate-88330217/

• Amazon Music: https://music.amazon.co.uk/podcasts/752ca262-2801-466d-9654-2024de72bd1f/the-lost-debate

Ravi opens with a deep dive into the unfolding chaos in Los Angeles, where the Trump administration has deployed federal agents and Marines to respond to the ongoing immigration protests. He breaks down what we know so far, why the deployment of federal troops may set a dangerous precedent for civilian law enforcement, and what else is at stake from a legal and constitutional perspective.

Antón Barba-Kay, author of A Web of Our Own Making, then joins the show to explain how Mexican drug cartels have become social media influencers. Ravi and Anton discuss cartel propaganda, TikTok as a national security threat, and the flattening of culture in the digital age.

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Donald Trump and Elon Musk are on a collision course to all-out political war, and it's messier—and more consequential—than anyone expected.

In this breaking news episode, Ravi unpacks how a once-symbiotic alliance devolved into internet warfare, with accusations flying and stakes rising by the hour. He then explores how a Musk-Trump feud could have massive ripple effects on national security, tech policy, and the future of the Republican Party. Finally, Ravi takes a step back to explain why this brewing battle is anything but entertainment.

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