The Journeyman: Unfiltered

Air Date: 12/10/2025Key ThemesPrediction Markets as Infrastructure, Not Entertainment: Marlon explains that platforms like Polymarket and Kalshi should not be viewed as novelty “betting” products, but as large-scale sentiment-pricing engines. Drawing on his fintech research work for TABB Group—where Wall Street’s long-standing interest in monetizing sentiment and behavioral data was already evident—he frames Intercontinental Exchange’s $2B investment in Polymarket and CNN’s integration of Kalshi data as the logical next step: folding belief itself into market and media infrastructure.Egberto deepens the critique, warning that these systems present “raw data without context,” which creates an illusion of objectivity while quietly steering narratives. Once capital owns the pipes, he argues, independence disappears regardless of how disruptive a platform began.AI Is Not Magic — It’s Ownership and Incentives: Egberto repeatedly demystifies AI, stressing that it is not autonomous intelligence but human-built systems operating on massive datasets under profit-maximizing incentives. He pushes back against AI mysticism, arguing that fear-based narratives obscure the real issue: who controls the models and who benefits from them.Marlon agrees, connecting this directly to his fintech and markets background. Just as trading algorithms reflect the priorities of their designers, AI systems reflect the incentives of their owners. He emphasizes that the underlying value of AI is human-generated knowledge—often produced by independent writers and analysts whose work is absorbed without compensation.Capital Capture vs. Democratic ControlEgberto returns repeatedly to a central warning: capitalism absorbs what it cannot kill. Independent innovations—whether in AI, prediction markets, or media—are quickly purchased, consolidated, and folded into existing power structures. Without regulation, technological progress simply accelerates inequality.Marlon reinforces this point with a markets analogy familiar from his TABB Group work: consolidation doesn’t reduce risk, it concentrates it. What appears efficient in the short term often becomes systemically dangerous over time.Creators, Media, and Invisible LaborEgberto highlights the structural unfairness facing independent creators: they produce analysis, insight, and cultural value that is freely harvested by AI systems and media companies, while receiving none of the downstream economic upside. He frames this as a modern form of uncompensated labor.Marlon connects this to the Substack ecosystem and independent media more broadly, noting that creators are expected to survive on thin margins while their work quietly trains systems that may later compete with or replace them—an echo of earlier fintech disruptions he analyzed as an SME.Healthcare, Risk Models, and Human CostWhen the discussion turns to healthcare, Egberto delivers a sharp critique of AI-driven risk management. He argues that in a profit-first system, advanced data models will be used primarily to deny care more efficiently rather than improve outcomes.Marlon builds on this by explaining how market logic inevitably pushes people out of coverage and into emergency care, raising costs system-wide. He frames this as another case where sophisticated modeling masks deeply unsustainable incentives.Politics, Pundits, and Grassroots RealityEgberto challenges mainstream political punditry, arguing that consultants and media figures consistently misread voters because they are structurally disconnected from grassroots reality. He points to recent political successes driven by direct engagement rather than consultant orthodoxy.Marlon agrees, noting that the persistence of failed strategies mirrors what he’s seen in markets: bad models survive not because they work, but because they serve entrenched interests.Why This Conversation MattersThis livestream offers a shared diagnosis from different but complementary vantage points. Egberto grounds the conversation in moral clarity and democratic necessity, while Marlon connects those concerns to lived experience inside Wall Street and fintech research—particularly his work as a subject-matter expert for TABB Group analyzing how data, incentives, and power interact. Together, they argue that without regulation, ownership reform, and creator-centric models, AI, media, and markets will amplify the very inequalities they claim to solve. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

The Journeyman. is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.Air date: 12/02/2025About This EpisodeIn this wide-ranging conversation, Marlon Weems and Arturo Domínguez break down escalating U.S. military actions in the Caribbean, the real consequences of sanctions on Venezuela, and what these moves reveal about a deeper collapse of institutional competence inside the Trump administration.What begins as a discussion of foreign policy quickly expands into a sharp analysis of corruption, elite criminality, and the normalization of incompetence at the highest levels of power.⸻About Arturo DomínguezArturo Domínguez is the editor of Antagonist Magazine, a decolonized journalism project focused on Latin America, immigration, policing, and human rights. His work challenges U.S.-centric narratives and centers the lived realities of communities affected by imperial policy, sanctions, and state violence.⸻Key Themes • U.S. military escalation in the Caribbean and Venezuela • Why sanctions consistently fail — and still keep getting used • The destabilization risks facing Latin America and the Caribbean • Trump-era governance: incompetence, corruption, and impunity • Market manipulation, insider advantage, and elite self-dealing • How power, wealth, and spectacle have replaced accountability⸻Why This MattersThis episode connects U.S. foreign policy abroad with institutional decay at home. The same forces driving reckless military action — arrogance, impunity, and elite self-enrichment — are hollowing out democratic governance inside the United States.The result is a government that is louder, more dangerous, and less serious than ever.⸻About Marlon WeemsMarlon Weems is the writer behind The Journeyman, an independent, un-paywalled newsletter covering politics, economics, markets, and media power. A former Wall Street professional and fintech analyst, Marlon brings a structural, historical lens to current events — connecting policy decisions, market behavior, and democratic risk. He is also the founder of The Journeyman Network, a creator-owned media collective focused on independent analysis and accountability journalism. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Air date: 11/19/25About EleanorIn this conversation, I sat down with UK-based writer and political commentator Eleanor Anstruther to explore the forces shaping politics on both sides of the Atlantic. She brings a sharp, historically grounded perspective to questions of power, culture, and democratic stability.Billionaire InfluenceWe dug into the expanding role of billionaire networks—especially Peter Thiel’s political and technological footprint—and how elite funding structures quietly shape public life. Eleanor unpacked the strategic motives behind these networks and why they matter right now.Tech & DemocracyTogether we connected the dots between tech-sector influence, global political realignments, and the rise of creator-led media. We talked about how concentrated power in technology is reshaping narratives, public discourse, and the future of democratic institutions.US–UK ParallelsFrom culture wars to economic pressure points, we traced the similarities between U.S. and U.K. politics, and what they reveal about broader shifts in governance and political identity.Thank you Egberto Willies, Nick Paro, Caro Henry, Francesca Bossert, John H, and many others for tuning into my live video with Eleanor Anstruther! Join me for my next live video in the app. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Thank you Reda Rountree (she/her), Jacquie Verbal, Pablo Andreu, Natasha K., Miss Lucy, and many others for tuning into my live video with Walter Rhein and Will Fullwood! Join me for my next live video in the app. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

On the first Friday of this month, I went live on Substack to talk about something I’ve never seen in my 30 years in finance. For the first time in U.S. history, the Bureau of Labor Statistics (BLS) failed to release the Employment Situation Report, better known as the jobs report, for the second month in a row. That’s never happened before. Not during any government shutdown. Even in 2013 when there were short delays, the data still came out. This time, there’s no plan to release it at all.If you want more independent and honest breakdowns like this, subscribe and consider upgrading to a paid membership. This work exists because of readers like you. Subscribe now and get 20% off forever.Why It MattersWe’re not just missing one report. The Consumer Price Index report CPI (inflation data), retail sales, new home sales, and other major indicators have all been suspended—not postponed. That means there’s no clear picture of inflation, wages, or economic growth.This affects everything:* The Fed can’t decide whether to cut or raise rates.* Businesses don’t know whether to hire or lay off workers.* Consumers can’t tell if it’s a good time to buy a home or hold cash.Meanwhile, according to the private Challenger, Gray & Christmas report, we’ve already passed one million announced job cuts this year—the highest since 2020. And yet, with no official BLS data, we don’t really know how bad it is.I was on a trading room floor during every market collapse from Black Monday in 1986, to the housing meltdown in 2008. This is more than a technical glitch or bureaucratic delay—it’s a full-blown information blackout. Without government data, we’re steering blind through an economic storm. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Last week, I filled in for Dana DuBois, joining Lawrence Winnerman as a guest host on the Daily Whatever Show. What started as a chat about hurricanes and climate denial turned into a deeper conversation about America’s unfinished business—reparations.We talked about how slavery wasn’t just a moral atrocity—it was the country’s original business model. In 1860, enslaved people were collectively valued at roughly $3 billion, more than the nation’s entire industrial output at the time. In today’s terms, that’s over $100 trillion in stolen labor and human capital.I shared a piece of my own family history—tracing roots from North Carolina through the Cherokee Nation to Arkansas—and a land grant document that promised “40 acres.” That promise was never fulfilled. Had it been, those acres could’ve translated into generational wealth worth millions today.We also dug into how those broken promises echo through our modern economy, from tipping culture and “right-to-work” laws to policing and the racial wealth gap. When people ask, “How would we even do reparations?” I tell them: We already know how. Federal trusts. Land and housing grants. Education funds. Baby bonds.All doable.Lawrence and I closed with a conversation about truth and reconciliation. If we can’t tell the truth about our history, we’ll never reconcile with our present. Reparations aren’t just about money—they’re about honesty, dignity, and national healing.Want to see these conversations in real time?I’m building The Journeyman Unfiltered on YouTube — where I go deeper and unpack what’s really going on.🎥 Subscribe here🎧 Episode Highlights* Slavery as America’s original business plan—and Wall Street’s foundation* My family’s “40 acres” story and what generational wealth could have been* The lingering impact of tipping, labor, and policing systems rooted in slavery* Real-world examples: Evanston, California’s task force, and Bruce’s Beach* Why the moral case for reparations precedes the logistical one* What truth and reconciliation should really look like in AmericaIf this conversation resonates, please share it—and consider becoming a paid subscriber. Your support helps me keep digging into the kind of history, policy, and economics that mainstream media won’t touch. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

I recently joined Stephanie G Wilson, PhD, the host of Freedom Over Fascism, to discuss my transition from a 30-year career in finance to independent political and economic commentary. I walked Stephanie through my rather eclectic history, how I started in the bond business in 1980s Little Rock, founded Arkansas’s first Black-owned investment firm, then spent more than a decade on Wall Street before turning to writing. The Journeyman. is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.Our conversation shifted to Substack’s changing landscape, and the platform’s financial backing of celebrity journalists while smaller creators struggle for visibility. That said, it’s probably the best platform among many less than optimal choices.Ironically, Substack’s recent growth is driven largely by progressive audiences who have abandoned mainstream media outlets, which enriches venture capitalists such as Marc Andreessen, who helped fund the platform from its inception.More: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

This week, I had a chance to join Zuri Stevens in exploring a central question: How do we raise kind and empathetic children in a world that often rewards cruelty? She shares painful childhood memories of bullying and explains how learning judo helped her stand up for herself, shaping how, as a mother, she teaches her own kids to defend themselves without becoming aggressors. The Journeyman. is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.Together, we reflect on how bullying has changed. Now, technology delivers harassment directly into the home through phones and social media. Parenting today requires new tools, from monitoring online environments to modeling integrity and respect Our conversation expands to include our concerns about truth, social justice, and the influence of media. We point out how children absorb behavior from adults — at home, on screens, and in politics — where lies can be rewarded. We agree that teaching critical thinking is essential in an era of misinformation and manipulative algorithms.Near the end, we discuss independent media — particularly platforms like Substack — as a hopeful alternative to legacy systems captured by political and tech elites. We question the notion of “good billionaires,” emphasizing that systemic change won’t come from the very people who profit most from inequality and disinformation.More: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

I welcomed my friends Dana DuBois and Lawrence Winnerman for a rare three-person conversation on The Journeyman. I kicked things off with a discussion of the Young Republicans’ racist text messages making headlines, sharing my frustration that the media refuses to plainly call racist behavior what it is. We talked about why words matter — how public discourse has been softened to the point where clear acts of racism, anti-Semitism, and misogyny get tiptoed around instead of confronted directly.There is the growing realization across the country that U.S. democracy is far more fragile than many of us believed, and norms we assumed were rules or laws have proven to be nothing more than a handshake agreement among powerful people. We examine the disconnect between the mythology of American progress and the harsh truths being exposed today — especially around race and gender power. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

My guest for a roundup of the week’s events is the brilliant Shari Dunn—former mainstream journalist, attorney, and author of the book, “Qualified,” now based in Portland by way of Milwaukee. Shari and I discuss about the current situation in Portland, Oregon—a city in the Trump administration’s crosshairs. Shari laid out the history: Oregon’s white-utopia origin story, summers when Proud Boys rolled in from out of state to provoke fights, and how local antifascists emerged as a community pushback—not as a shadowy organization, but as residents who refuse to be bullied. From there, we talk about Columbus Day’s roots in anti-Italian violence, and how immigrants learned to access whiteness by distancing themselves from Blackness. We closed with the latest on SHRM’s platforming Robbie Starbuck—an activist with no HR credentials, and plenty of anti-DEI rhetoric.If you value independent voices that tell the truth without permission slips, subscribe, share, and—if you can—become a patron. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

I recently had a conversation with Arturo Dominguez, a seasoned investigative journalist who covers Latin America. Arturo argues that opposition figures such as Venezuela’s María Corina Machado, who is being lauded in U.S. media for being awarded the Nobel Peace Prize, align with far-right networks, including Javier Milei (Argentina) and Jair Bolsonaro (Brazil). Based on his reporting, Arturo says Machado has a historical record of backing coups, foreign intervention, and frequently espouses xenophobic rhetoric.We shifted to Argentina, where I contextualized U.S. Treasury Secretary Scott Bessent’s recent $20 billion U.S. currency swap, which in effect, was a tool to prop up the country’s peso and by extension, support its president, Javier Milei.Meanwhile, Trump has publicly tied the swap to Milei’s electoral success, warning that aid could be withdrawn if his coalition underperforms.More: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

A few Fridays ago, I joined Dana DuBois and Lawrence Winnerman—hosts of genxy’s “The Daily Whatever Show.” Since it was the end of the week, I got to participate in their “Fucked-Up Friday” program, in which we chronicle the week’s worst events. It was a 10:00 spot, so my coffee had just kicked in. I rarely get the opportunity to drop f-bombs so early in the day.👉 The Journeyman is your source for independent takes on the economy, markets, and democracy. To support this work, become a free or paid subscriber.Dana and Lawrence’s opening focused in part on Taylor Swift’s latest album (sorry folks, I’m not a Swiftie). Once I joined the conversation, we pivoted to my favorite topics—markets, policy, and power.As for our “Fucked-Up Friday” pitches, Lawrence flagged the alleged AI face-scanning of military brass summoned by Pete Hegseth. Dana pitched Chicago’s midnight ICE raid on a low-income apartment complex, and I bought up an anecdote about ex-cons possibly staffing ICE. More: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Legacy media has bent the knee. Become a paid subscriber, and get 20% off—forever!A few days ago, I a great conversation on Blue Amp Media’s Amped Up show with Cliff Schecter and David Shuster. We discussed the struggling jobs situation, and whether this was all part of Trump’s or if he and the rest of his team were in over their heads. Our discussion reminded me of a talk I gave to a class of international business students at the University of North Carolina at Wilmington a few days after the tariffs were announced. To illustrate the situation Trump had caused, I borrowed this quote from former Treasury Secretary and Harvard professor Lawrence Summers:“To borrow a word from the doctors, this is our first iatrogenic financial crisis. An iatrogenic illness is when you go into the hospital, and you catch an infection there. It’s when the people whose job it is to make things better are the active agents of making things worse.”It doesn’t take a genius to know the difference between an economic “act of god” like the pandemic, and something that feels almost engineered. What we’re seeing since Trump took office isn’t bad luck or a plan that went wrong. It’s about power, greed, and political cynicism; and it’s all colliding in ways that could blow a hole straight through the economy—and what’s left of the middle class.Unless we stop him. Read: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Every once in a while, one of my livestreams falls onto the proverbial cutting room floor. That was the case with this livestream, which originally aired in May 2025. In it, I discuss my days as a young, brash securities salesman in Little Rock, Arkansas. Read: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Last week,Last Friday on The Journeyman Unfiltered, I unpacked ABC’s indefinite suspension of late-night host Jimmy Kimmel for his comments regarding the murder of Charlie Kirk and what it means for everyday Americans. I also broke down what’s driving the media’s willingness to acquiesce to political pressure (spoiler alert: it’s money).The Journeyman. is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.Read: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

A few days after the assassination of Charlie Kirk, the founder of Turning Point USA, I had the opportunity to speak with The Conscious Lee. We discussed Kirk’s rise to prominence in Republican politics and the flood of money that enabled it. When I left the conversation, I’d gained a new perspective—not just on racism and white supremacy, but also on how the right leverages the left's platform of tolerance and empathy, and uses it as a weapon to promote their message of hate.👉🏾Join the The Journeyman’s 12,000+ readers for clear and independent takes on the economy, race, and American culture. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Thank you The Bathrobe Guy (Robes) 👘, Cryn Johannsen, Mc Nelly Torres, Dr. Mary M. Marshall, Prof. Anthea Butler, and many others for tuning into my live video with Egberto Willies! Join me for my next live video in the app. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

Yesterday, I broke down the week ahead:At 8:30 today, the BLS releases its preliminary revision estimate to employment for the year through March. This revision, which is based on a more accurate data set, will give us an even clearer indication of the weaken in the jobs market. Economists anticipate a downward adjustment of anywhere from 475k to 900k fewer jobs during this period. The markets have a 25 basis point interest rate cut by the Federal Reserve practically built in, so a downside surprise in the BLS employment number could raise the ante, forcing the Fed into a 50 basis point cut.We’ll have a better picture of inflation later this week with the Producer Price Index (PPI) on Wednesday, and the Consumer Price Index (CPI) on Thursday. Both numbers could add to the Fed’s calculations on interest rates.Read: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

I recently had a great conversation with Dr. Shanté Holley about the phenomenon of white male anger and the downside of systems of privilege.Dr. Holley is a mental health coach, college professor, and wellness advocate. She holds a doctoral degree in Curriculum and Social Inquiry and regularly speaks on diversity, equity, and personal development. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe

WARNING: This story involves a violent crime.This story recalls a gruesome incident from decades ago involving a man I worked with in Little Rock at one of the largest investment banks in the country. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thejourneyman.substack.com/subscribe