Gavin Newsom Slams CEOs and Others At DealBook Summit For Bowing To Trump, Says Some May Need To Buy Kneepads “In Bulk”

California Governor Gavin Newsom chided CEOs and others at The New York Times‘ DealBook Summit for bowing to Donald Trump and his demands, criticizing Silicon Valley executives in their quest to get in the president’s good graces.

Newsom cringed a bit as moderator Andrew Ross Sorkin read aloud some of the governor’s social media posts, which have mocked Trump by mirroring the president’s over-the-top Truth Social rants and rhetoric. Sorkin also cited Newsom merchandise sale of kneepads “for all CEOs, universities and GOP for being the knee to” the president.

“Some of you may need to buy them in bulk,” Newsom told the business-focused crowd.

“…They were sold out, just like our universities were selling out, just like our law firms were selling out, just like a lot of CEOs were selling out, selling out this country, our future, our republic, selling out my kids, your grandkids. So there’s a method to it.”

Later in the 43 minute sit down, Sorkin pressed Newsom further on his criticisms of business leaders for trying to win favor from the administration.

“If you were [Apple CEO] Tim Cook, and under the circumstances he is in, which is that he manufactures a lot of stuff in China and he was worried about the tariffs…” Cook rather famously appeared in the Oval Office to give Trump an “award,” a plaque with a 24-karat gold base.

Newsom responded, “He is able to make a phone call that no small business in my state could have made. I mean, how about my farmers and ranchers in California? How about all these small, medium-sized businesses that can’t pick up the phone and get an exception on their tariffs? So yeah, it breaks my heart a little bit. .. That is by definition crony capitalism. It is the definition of it.”

“Back to the generous analysis. That is being called a fiduciary, doing what he needs to do on behalf or the shareholders. That’s his job. So do I begrudge that? Yes. But do I begrudge him? Not as much. But what I do begrudge is the tone and tenor that this administration has set and the expectations they set, that if you don’t do the bidding, if you don’t write the check, you don’t get the contract.”

He added, “Some would argue, OK, it;s just more transparent. BS. It’s at a different scale than we have seen in the past, and for those that are complicit and participatory in that beyond their fiduciary responsibility, that’s where I have a real problem.”

Newsom was particularly harsh about David Sacks, the tech figure who is serving as White House adviser. Sacks was the subject of a New York Times profile that raised serious ethical issues of his role in shaping policy in which he and his friends benefit. In the aftermath, a number of tech leaders came to Sachs’ defense.

Newsom called the Times story a “master class analysis.”

“Talk about self-dealing,” Newsom said. “I mean, crypto czar, All In podcast — great podcast, not a knock. But one of its co-hosts is in business with Trump Jr. who is in business with Laura Ingraham on a new SPAC. They go so well. None of this is normal…This is a different level of grift than we have ever experienced in our lifetime.”

More to come.