Transcript
Pill tired of our tired. I'm already tired. I'm already tired. And we haven't even started live from a pile of sweaty. You know, when I say piles, it's gonna be trouble a pile of sweaty Satya Nadella tube socks. Oh no, it's all new. Terrific Tuesday edition of business pants. Featuring analyst whole Matt mcgarden. On today's glass Lewis branded Indica pre-roll with 39.26% THC. Wow, called April, 14th 2026. The audio blame game. Yeah, first of all, that last one seems live Alice, does it really it's legal where I live? Probably where most people live who were listening? Second of all, completely legal Sachin Nadella definitely buys new tube socks. Every time he wears some, right, I don't know. He looks like he could be Thrifty. It's hard to know by the way is that the theme song called kimchi? So you said yeah. It's like the like the fermented. Yeah. Cabbage. I'm trying to decide. What does that evoke fermented? Cabbage to meal. It's actually 37% fermented cabbage. Yeah, I don't feels like, I don't love kimchi. I love it. But is that the field? Is that the feeling you get when you eat it. Oh, I love it. It's okay. It's like bubbly is that does that theme song Down? Does that evoke your pleasure? Yeah, all the pleasure. Okay. All right, then I, I feel like I love the theme song again. Our show today is being sponsored by free flow analytics or free flow, analytics.com. Yeah, the only platform measuring board power connections before performance for free. although, To be fair, if you want the, you know, the API and all the, all the fun stuff that comes, you do have to, you know, maybe you're an Institutional Investor. There, we can get you a lot more and it might cost more than a dollar. Right? You it costs definitely more than a dollar. And the more that you can get is like a lot more stuff, the free Is started. Yeah, if you're a student, if you're like a researcher, even if you're an analyst msci, whatever the free stuff is a plenty. So enough, it's a lot, it's a lot. But it's also like probably a drop in the you know bucket of what date is, but there is now like it's just so much now, it's ridiculous. When is when is msci going to call and ask for some of this to incorporate into their product is what I'm really wondering. I mean tomorrow probably yeah. Okay. You ready for the blame game? I, I have heard anecdotally that this is the only show that people like and I like that. We do it. Like, once every six weeks. Yeah. It's just, it's, it's a heavier lifts. It is a heavy lift. It's a lot. I've got two, how many do you have? I have way too many have five and I and one is designed to talk about one of our new fans SEC chair, Paul Atkins. So Paul I know you're listening, I hope you like this. There's a segment about you let coming up he loves this show. How do you want to do this? I should probably go first. You should go first and second couple and then I'll go third couple. And again, I say this, every time, first of all, no bedding. I know, like, we live in a, in an age of all these horrendous apps. Everything was bad. Yeah, everything's a bet, but you are not led a bit on this. On the shows that we do cannot bet. No, no bedding. I'm sorry. And second of all, these are always presented in no particular order. Just because I start with the story, does not mean it's the most important story. That's, that's subjective. It's up to you. You ready? Yeah. I'm ready. That's a lot of disclaimers booking.com Warren's customers of hack that exposed their data. Oh, Yeah, so we're you know, this happens a lot and it's becoming more and more of an issue. In fact, Anthropic is holding back. Its latest release of its AI model because it is potentially so destructive. With things like hacking. That it was worried that getting the wrong hands. So, This is a message to shareholders and Boards of directors and CEOs, get your act together now. I mean, I've been warning about this for five years but yeah, but do it now. Get it together ten years ago when you mentioned it. Yeah. So who do you blame booking.com? First of all, do you blame CEO? This is a relatively easy who do you blame to get going? Because I got some complicated ones coming. That's that you're not gonna like how good CEO Glenn Fogel. He's been there since 2017. They've been several hacks at booking. They've gotten into a lot of trouble. They've let us go to issues. This dude, despite the fact that they referred to him as having this technology skill the board Matrix, he actually has no background in Tech, nothing other than working here. So, what potential Target CEO Glenfield? Did he go to either Harvard or Stanford? It's almost a guarantee, right? How does that answer the other? Well, it is a this was originally a Dutch and he was an eye Banker or a finance guy or he came out with it, you know. He he went to entrepreneurship class and then got the job of CEO. That's That's the pathway to running a like retail tech company with no Tech experience is to have gone to a marquee Business program. And had a background in finance and worked at like City group for six years, you know, doing mergers and neck positions, right? You're not you're not quite right, but he did go to Harvard Law School. Oh, how do you feel about that? I feel less good about that. I mean I will say this he graduated in 1988. You think they were talking about Cyprus security risk, 1988? Oh yeah, they were definitely. I mean Tada movie like what the war game with mattress out by then so and to your point. Yeah he was an investment banker. He was a vice president Morgan Stanley. So yeah, you're kind of, right? And anyway, that's the first one. What about? Let's get more serious cybersecurity. They actually have a cybersecurity subcommittee because he's subcommittee. That's what was called a chair, Larry Quinlan. Now he was the global Chief Information officer Deloitte but only up until 2021 and I'm thinking Deloitte in 2021. Wasn't that basically just covidde stuff like what are we doing Chief Information officer at a place that talks for a living like like I, what is that it's close to something though. But do you manage just their email server? Is that what you do? And because I'm laying on the sarcasm, pretty thick on this episode, you know, surprise surprise. I will say he's a Dei higher. He's a black man. Oh no. Oh, so this is his fault Cypress Security subcommittee member Nicholas Reed. He's been on the board for eight years. He they don't even listen to Technologies. One of his qualifications. He's not even in the skills Matrix. Yeah, I don't even know why he's on this committee. So, they admit that he was doing. And then finally, so cybersecurity subcommittee, member, Vanessa Whitman. This is so this is all three members that committee she was most recently CFO at an online beauty company, a beauty product company called glossier and get this. Here, they say she is technology experience, I don't. But she was, she is a director at egg. They have a technology committee egg. She doesn't serve on that technology committee. Well, of course, she doesn't because well, what I mean, if she's an expert, you know, the skills Matrix. So we did a process. You did, we did, we looked at over 50 skills. Matrices of large cap companies with directors and comment across Industries, all the stuff, and we found that they basically skills that they list are relative. They're not absolute. It's not like it would be like, so she's smart at booking in a dope at age. Yeah, gee, that's what you're saying. Oh, he'd be like if I if I made a shelf in shop class and high school but no one else on this board had I would get the carpentry, you know skill but if I was on Bob vila's board, I would definitely not get it because everyone there knows what they're doing. That's how they do the skills Matrix. So that's why free float has knowledge because knowledge is at least You got educated in that that was your role at these companies in your bios. Like it was real things that you did. This is like not surprising at all. I'm I'm surprised I gave you all three cyber security committee members and I gave me the CEO I'm gonna. This is hard. Yeah, it's hard because it's kind of a serious one. yeah, well, I mean I can't not the subcommittee member Nicholas Reed where technology is not this is a qualification that does seem like a problem of the Committee chair, picking someone, for the subcommittee with no technology background. Maybe. But it's really between the committee chair and the CEO. I'm gonna go with the committee chair because he's a Dei higher. That's what I'm gonna go with. Oh, that's the reason that's look, that's the climate we're in. Yeah, it's got to be. That guy's full. He has been there for four years. Long enough to know better. I mean, he's probably the one expert, he's a one CIO write on the board. So if you're the one CIO on the board and you keep having hacks and data breaches, That seems to be the only guy in the room with that. Knowledge that in their purview. So I'm gonna blame him. All right. Moving on. Woke coffee chain slip, this, the headline forget about the headline, but I'm gonna read it anyway. But the headline is full of nonsense. Woke coffee chain. I don't know what makes it well though. Slammed by liberal California, customers for removing Pride flags from cafes. Saying this is bound to backfire. So. Okay, here's the point. There's a, there's a coffee chain in California called fills Phi LZ. Okay, this is a publicly traded company. Is this like a guy named? Phil, it's not a publicly traded company, but it's it's important because they all the information is there. The board. I got all the information board at Phil's. Well, they have a private Equity owner who has a board. Let's just get to it here. Okay, so this is complicated, it is a little complicated. So again, this was founded in centers and San Francisco. I mean, it was created in the mission. I mean, this is a San Francisco Coffee Company. All right. So, do you blame Phil's CEO? Mahesh Sutter Road ganni. Who said, Who quote said our long-standing support of the lgbtqia plus Community is Unchained. We are working toward creating a more consistent inclusive experience across all our stores. Including removing a variety of flags and other Decor. This is how this is a change and how our stores look not who we are. So that's a great answer. No, we're just getting rid of flags just Flags, man, all the flags, right? Because I mean, when you walk into coffee shop, my only real problem because the coffee is delicious. It's just so many flags. It's just like, they're they're hitting in the face everywhere. You look, they're Flags. It's incredible. But that's a great excuse. No, like that, you could blame him. How about Oh, and let me add this. He They all list their favorite drink orders. Just like Starbucks, and his is called ether straight up. Now, okay, the street he said straight so he's probably anti-k, right? That that probably yeah baby. And then I also he came from WingStop which doesn't Wingstop. I mean the Wingstop says there are the arms, the wings of birds. I mean that doesn't that seem homophobic to you just ripping Wings up a bird, doesn't wish that it's homophobic or not. But the head of Phil's Coffee who's, like, into, like who's got a coffee named ether straight up as an option on a menu somewhere. Came from Wings. Stop really like which, like caters to NHL fans who what wings while they watched hockey? What is that? Now customers are are pointing out that last year. The company was bought by private Equity, Firm, Freeman, spogli, and Company. And they're, they're kind of potentially pointing their finger at them. So I looked at Freeman, spaghi, and Company. First of all, it was founded by three men. They have a team of 31, only five or women. They also have six industry Executives and there's zero woman there. So that's 37 with five women. They have 10 partners Wonder Woman, you know, you can see where I'm going with this, right? They actually had a filing in 2025. It was 10 executive officers, there are no women. And even this is like they even had the old-fashioned green Washi web page like when you open their web page, the front page is like littered with women. It's always like Smiley women everywhere so that you could blame them right, private Equity, Firm, Freeman, smugly what about the founders of Phil's Coffee Phil Jaber and his son? Jacob. Oh, are they not on the board or running? Just that. I don't know. I'm just trying. I'm trying to put a show together and then, finally, what about just blaming the whole San Francisco Bay Area? I mean, aren't they notoriously homophobic? That San Francisco specially in the mission? Yeah, that's that's the Castro. They probably in the Castro. So where do you land here? Uh, well. Look I I don't know. This is a throwaway. Yeah this one's a bit hard to. This is my way. This is maybe my way of sneaking in the data on private equity and how ridiculously bro Centric it is. Here's what's amazing on Phil's Coffee News page. Yeah is 0 news about flag removal right? Like they didn't put out a press release that said we're sprucing up our stores. This includes making it more inclusive. Yeah making it more inclusive by removing some Flags right? Like they want to say that they want the San Francisco people to come in. So let me ask you something. If that was true if literally if that was if you took that literally that they thought this was a good idea to be more inclusive and remove some Flags. Don't you think that would put that out as a press release and how they're sprucing up their stores, right? But they don't think that's true. Clearly. What they think is that we're removing Flags, because we're afraid that a conservative somewhere is going to, you know, snowflake their way into a lawsuit or against us or they just don't believe in it. The private Equity Firm doesn't, there's just not into it. This is, um, I think none of these fills actually has a lot of they're in there in San Diego. A little bit there, and, yeah, but there's mostly San Francisco. Mostly San Francisco. San Diego. Mostly gay. Loving places. Let's be honest. So the only one it could be is Freeman and smile. That's it. It's, that's the only one. This is what you put a bunch of smelly men in a room together. They don't, they make weird decisions when you drop 135 million on something and you don't want them to get sued because now, like, you're the owner. That's that's the only one I can blame. All right, I'm gonna do one. Okay, I was gonna say we both have one. On Microsoft and my Microsoft is coming up. So you want to do yours first, you want to do my Microsoft first go. All right, here's the headline. Microsoft, pauses carbon removal purchases. Why do we know why? So they didn't say that it was like, evolving and whatever I have no money but here, but what's it? What's fascinating about, it is like two weeks ago on this show. I made fun of Microsoft for greenwashing. Yeah, Microsoft in 2020 set. A 2030 carbon negative Target as an in 10 years, Microsoft had committed to not just Like emit zero carbon effectively, like either by buying credits, or to offset or whatever, just Renewables or whatever. They actually said, they were going to remove all the carbon since their Inception going all the way back to like, the 1970, something they were going to remove all the carbon that they ever emitted that are getting ready to Bill Gates and getting rid of what else Trump I guess. Being in the Epstein files, is carbon heavy carbon tents, a lot of flying. A lot of private jets that Ireland. No joke, really. No Jets legit. Yeah, but so, but now, two weeks ago, I made fun of them for greenwashing and and today, it broke that they are pausing carbon removal purchases including them on a sensibly by one, they made by mumbach, which is the company that I made fun of that they bought, like, tens of millions, of dollars of carbon credits from a company that's never planted a tree. And has no history of ever done and having done it before in the Amazon much less. Yeah, that's good for a press release. So who do you blame, who do you play? All right. Do you blame Sachin Nadella CEO and chair tube sock. Where tube sock wearing Satya 27% influence. He's been there. This is at this point, hasn't he? This was his Target. In fact, in the announcement is a picture of Brad him and Brad Smith. And one other person who I can't remember announcing carbon negative by 2030 and one year later in 2021, he wrote on LinkedIn as a company. We've set ambitious climate goals to be carbon negative zero waste and water positive by 2030 and we're making progress as we work towards a more sustainable future. That's on his LinkedIn profile in 2021. Yeah, but it was okay to say that, then like it was cool to say that. well, last year, Microsoft's Chief sustainability officer, Melanie nakagawa said quote in 2020, Microsoft leaders, Sachin Della. That's the leaders such as Microsoft leaders, referred to our sustainability goals as a moonshot and nearly five years later, we have to have we've we have had to acknowledge that the moon has gotten further away. Oh well that's not the right science and math, let me ask you something. If any executive set a Target and then they didn't hit that Target, they hit that Target either. The target was ill-conceived They never meant to hit that Target. Or they failed. They actually were not good. They could not manage to hit that Target. They failed, I'll take this. I don't think the peg committee cares because his pay in 2023 is 48 million and then it went up to 79 million, and then last year was 97 million. So correct. Yeah, they're they're not exactly. They don't care about Targets target. This is not this one. Like if, if I said a target for free flow to do a billion in sales by 24, I like this, like that's good. And then I invested all of our money into crypto lost it all and got 45 dollars in parking tickets and that's all we got by 2030. Do I blame the changing Market environment? Do I just say like oh well it wasn't a real Target. Anyway we were skipping the target. Like that's what Sachin Adele is doing currently. Currently. All right. So option. Number one. Sought you in a Dell option. Number two, penny pritzker. Oh, A pritzker JB pritzker baby sister cousin friend Uncle. I don't remember, I don't know what. Um but she is an apple baby. She is on the board. She is actually the chair of the environmental yada yada yada committee, like, whatever the environmental committee thing is because they all name it. Something different she bats according to freefloat data, 269 on carbon intensity overall that is in. That's almost the bottom quartile of all peer directors and at Microsoft. She's been worse. I just on the Microsoft board, it's horrific. 500 is the average director. Like so the head of the environmental yada yada committee at Microsoft, is in the bottom quartile of carbon performance. Yeah, but to be fair, she only has one percent influence on that board so maybe she's trying correct. Correct. So there we go. So we could rule, we could maybe rule her out and it's not. Yeah, according to the data, I have here is up to 33%. Now, your data is old, my date is new what you have now, 27 20, that's roughly the same. He said that. Yeah, read Hoffman, we blame Reed Hoffman. Also on the board of Microsoft, AI evangelist, founder of LinkedIn. Heavy investor, in AI. In fact, read Hoffman said, Just like last week, the AI is going to be blamed for quote, just about everything. He's one of these guys who's saying AI, who do we cover? That said the same thing that AI was going to be blamed for everything. Marc Andreessen just said it right. AI would be blamed for everything. It's, it's a, it's something. We can blame every layoffs on. Even though every company was overstaffed. Well, read Hof is on that boat. It's Trump's Biden. It's that's that's what tech Bros are. Now you saying about AI, except AI is on page to use as much as 20% of all energy in the US this year already. We're already there up from 4%, in 2024, for data centers, in fact, AI in 2026 could equal all of New York City's carbon. Yeah, all of New York City small, New York City. So it's also worth noting that Reed Hoffman a member of the environmental yada yada committee. Yes, seems like a cool place to hang out. So what is the guy who like is happy to spewed, you know, all of New York City's carbon and used 20% of the energy in the country doing on the environmental committee? What is he doing? Stupid. There wasn't like a mechanism place for shareholders to be like, you know, you know, you're on these committees. You know. I don't know that you're really coming through. Like you're not really are doing what you say, you're going to be doing thing. Yeah, we're gonna vote you out. Well, here's another Committee Member go ahead. Catherine, McGregor. Yeah. Friend. Catherine McGregor only has 4% influence. She's only been on Microsoft for two years. She did not set this target. She was not on the board that said this target. She is a newbie young and new but, She is one of the top performers, she's one of the she's the second top performer on the board for carbon 6:30 to she's the CEO of energy, the French Energy company, that's like heavy into carbon transition, renewals Renewables, like a battery storage EVS, in fact, and engine. And and I think it's energy and and she know well, listening at this. All I know is that the company that she's the CEO of Has seen an energy company that she's the CEO of has seen their scope one, two and three carbon dropped from 265. I think it's a million tons in 2017 245 and 2025 that that she has overseen. Massive drops in carbon. Yeah but that's in France. They do okay. They're trying they get stuff done there. I guess Microsoft in the same time period has seen their carbon in 2020. Go from 100 scope one. This is just the carbon that Microsoft uses by itself, 118000 tons, 243,000 tons and their scope 2 has gone from 4.3 million to 9.9 million. Yeah, Microsoft spewing more than they ever have in their history, but you're getting about all the money they're making. So you are seeing this wrong. Yeah, that's true but maybe we can blame Catherine McGregor for not coming out stronger and saying, hey, I've done this before. Could you all shut up and listen to what we need to do because I know how to do this. Well, I hope her influences has risen because they'll the last date I'm looking at. It's still a zero zero. Well, that's when she was just joined. That's when she was going up a little bit, gone up a little bit. Yeah, because she was put on the yada yada committee. Who else will finally. The 2020, Microsoft board. The board of Microsoft at the time that Satya Nadella put out their carbon targets, okay? This is the reason why they need to buy carbon removal in the first place is because of the targets that they set and they paused it the board at the time. Is. Read Hoffman Hugh, Johnston, Terry Lester and Adela Sandra Peterson, Penny pritzker, Charles Sharp, Arnie Sorenson, John Stanton, John Thompson, ml, Walmsley, and Pad masri Warrior. Oh yeah. Remember yeah. Now I went really quickly through those what I don't need to go quickly through is to say that all of them are still on the board except for three, The three who are not on the board. One died of pancreatic cancer Arnie Sorenson. John Thompson retired from everything. He retired off, he's not no more boards. And padmasree Warrior is the only one who still on boards who you could get angry at somewhere else, except she's on the boards of an Indian company, Mahindra, Mahindra and Spotify where you have no voting rights. So like, basically, you can't even hold, if you want to hold anyone accountable, the 2020 board accountable, just vote out this board right now because it's the same. All right, so you're telling me I can either Target the CEO. I could Target the members of the environmental yada yada committee, or I can just go for the 2020 board, which is essentially the 2020 entire for the entire board like that last option. Yeah, that's the correct answer. Oh, that was easy. We don't usually it's usually more of a struggle but okay, I would have also bought Reed Hoffman. I think that guy has an outside influence on this board that we don't in the data because let's annoyingly stick with my Microsoft for a bit, okay? So I might give you the chance to throw it off and my my version of the Microsoft game is maybe a bit more ridiculous shock. What a shock know? So the I feel like the saw in Adela the, the Microsoft, the the strength is certain to fail a little bit with recent headlines and the anthropics, clawed for word is another challenge for Microsoft software. Now, remember, they're saying that AI could potentially decimate, the software industry, chevron chevron and Microsoft team up for giant Texas gas power plant. That's something you talked about a few weeks back this. Yeah, that's a triggered me. Yeah, and then open AI. Rips and Tropic distance. It's it's itself from Microsoft, so open AI. Is throwing a lot of its business to Jeff Bezos over at Amazon. And now, on a screwing, Microsoft, which is my last, it was my last one. All right, about that, but we're looking at Microsoft things don't seem to be going well, so who do you blame? I'll go quickly because you you did a good job setting up most of these people. So I'm just gonna kind of give you a little one word answers here. Signing Adela, I mean, you know, he's the leader. Yes. See the guy? Yeah, read read Hoffman. He's the Epstein Island guy. Yeah, he was listed. Yeah, it's not forget that he went to Epstein Island after everyone knew that this guy was was arrested. Is there evidence? He actually went to the office. He already apologized. He's okay. He said he was very manipulative and you know we couldn't he couldn't. He got caught in the vort. I don't know. He couldn't get out of his laser beams or something. I don't know. I didn't see that laser beams. Yeah. How about Charles Scharf? This is the guy. Oh, yeah, in 2020 who said the the unfortunate reality is that there's a very limited pool of Black Talent to recruit from he said that yeah he said that. Well that's a quote as the CEO of Wells Fargo. Yes he was taking a different route from other seats. At the time, he wasn't bending a knee like, Jamie Morgan at one of his Banks. Pretending that he gave a crap. He was saying actually black people are pretty stupid and I don't know how to we can't find anyone to hire. They were stupid. He just said there's not many of those that right? Yeah, that's what he meant. What about Charles Scharf again for it, turns out in 2025, they sell the lawsuit for almost 100 million dollars. After it was revealed that they that Wells, Fargo was conducting fake interviews with my nerdy and female candidates just so they could tell people that they were looking. Well that's just a limited pool of them so they just pointed to a black guy and said come interview. That's I mean imagine this guy's still on the Microsoft board anyway so you can blame Charles Scharf twice or how about you could blame Charles Scharf and Reid Hoffman as a Duo. Oh, because because they tell they both attacked Lina Khan. Who was the chair of the FTC when she was looking into Microsoft, Charles Scharf called her a trauma to the economy in Hoffman called her said that she was Waging War in American business. So these two blowhards. Wow. You know, can you imagine the Bro hug that went out between the two of them when they penned that? I mean, to your point that read Hoffman must be powerful because I, I don't know I I don't really know. Anyway let's move on. Well a huge Johnston director. This guy. See if oh Disney and Pepsi I mean Does it get any more pointless than what? He's doing a Microsoft, right? And like is there anything more pointless in the world than Disney and Pepsi? It's just like drugs. Nobody needs. It's just bunch of nonsense. It's just sugar. It's just sugar. Terry list, you mentioned Terry list This Woman's the boring company Queen. All she does is she's on Boards of the Gap. Dicks craft, Procter, and Gamble Visa Donna. Her she's just She doesn't she, she just there. She's just a company. She's a company. Gosh, a company. Yeah, one of most connected directors and right database, as a result of those boring boards where she has no influence and gets paid. Catherine. McGregor, you mentioned. I say we could blame her just because she's a woman and she's friend. She's just like an obvious combination, but lead, independent, director, Sandra Peterson. I think you mentioned But she's been in Microsoft for 11 years. So she's a fake lead, independent director believe, independent directors thing, like I you have your triggers of like, there's a little. Yeah, you have triggers this blows my Mind, every time I hear it. On Earth. Our investors, not able to investors. Do like complicated, you know, algorithms to figure out what the price of a stock is going to be 10 years from now that they're trying to do constantly and they can't figure out how many years. A lead independent director has been there because attendance they can figure out attended think and figure out because I assess and glass Lewis, gives them a little flag that they wave over someone's head, a little pride flag, show up bills coffee. Yeah, that's all the flag giveaway. That's where the whole win but like 11 years in your lead independent director, you're not independent Penny, pritzker you mentioned. She's a nepo. Baby name, Emma, Walmsley, you mentioned and I said, you could blame her just because she's a woman, she's a Dame, should not even American. She's a degree in Classics. I mean, what are we doing? What she's the, the CEO of GSK a farmer company, right? Yeah. A classic degree like and finally Mark Mason. I just put him on because he's black so you could take the anti Dei right. A lot of names, I give you a lot to think about where just throw a dart. Who do you blame for Microsoft for getting all like weird? I losing its luster. So I I think I think there's a real. So, what's interesting about the, you know, the, when you look at these companies is there is a power dynamic between the people, right? This is not I'm not breaking new ground by saying anything like this, but it Microsoft, you know, the latest date of the week have has Sachin Adela, you know, 20 27% influence? Yeah, but when I look at the next two directors by influence Charles Scharf, right? It's Charles Sharp, over Sandra Peterson who's the lead independent director, right? So Charles Scharf actually is more influence according to freefloat metrics but it's basically the same. It's running the same. Yes, same, yeah, but that suggests to me that it's it's not wrong. That Charles Scharf and Reed Hoffman might actually be a legitimate sort of power Duo on that board like when such it got nominated as CEO. That was one of that was one of the early cases of the Southeast Asian male. CEO replacement Theory where you go from a bombastic founder-led. You know over the top personality like like founder was Bill Gates and then it was bomber, right? Was the CEO of these loud and bombastic? And he's like, all right, a co-founder of Microsoft 2 and then they go with the Quiet Satya. Nadella, who plays I will say who came in onto the board, the same year as Charles Sheriff 2014, which and Charles Sharp has gotten away with. So, I don't know how that guy still directed. He's got a way so much shit. He's overseen. Some of the worst behavior or Wells. Fargo, Wells, Fargo, I only mentioned two, horrible things. Just a couple of the races. How one Earth does he still have a fucking job? Like the shit. He's done. So between sharp and read. I actually think the duo, I'm gonna blame the Well, the duo, I'm gonna blame the duo, like the Batman and Robin of like behavior on this board. Yeah, I think you're right. I think that there's just like they just, there's a stink to those two. They right, there's just a Time. Read off in opens his mouth. I know he's like a major Democratic donor and like liberals should are supposed to like him. But every time he opens his mouth, I wish you would shut. It is Rita Hoffman the guy who who recently know that was the sales force guy, who was the guy who was like talking about bringing in troops to San Francisco. Was that the sales force guy? I was a sales for that benioff. That was I will say this AI blow hard. I have I'm sure you've noticed in the last year or so LinkedIn is turned into like a slop Factory. I get now I get so many notifications about things. I don't care about that are all kind of just stupid. They're getting into like political weird stuff that you see on Facebook and then I also noticed they have a video feature. Now what it's just the same endless, Scroll of nonsense video, like it's just becoming, I only check it. When I post on LinkedIn, I just checked Make sure I don't nobody anyway, because nobody sees it anyway. Well, you're not bowing down to the algorithms, no one's seeing all right. So that's that's yeah. I have two more. Do you want to go to want me to do one more before you go? Next watch, you do one more and then I'll do my last one. Okay, let's get to the Trump one sec. I should say SEC. Sorry. Yeah, we do because we just, we need to educate our listeners because they're pretty dope. Each other see. Trump's SEC is going after fewer Wall Street crimes. I mean, I don't really need to. I have some information here like I don't need to tell you much background. The point is that SEC chair Paul. I can just basically he's not going after people anymore 784 enforcements and two years ago down to 456 this year. So it's just going away. All right. So who do you blame? I will say this, though, he did, he did say that he promised Paula's told Congress in February, that he disputed. The report suggesting his agency was Prosecuting for your crimes and assured lawmaker's sec. In Fort Smith. Work had not seen a steep Decline and then two months later, the date comes out, and he's a liar. I'm shocked. What is a liar? He's a liar. All right. Who do you blame? You know, Trump seems like an obvious choice. Right? Trump told. And to do. And then Paul Atkins did it or but let's move on. I don't want to talk much about trouble. What about Paula's? Now, let's not forget. Paul Ackman. Paul Atkins used to be on the SEC. He was a commissioner under George W. Bush. And in fact, he was a staunch opponent of increased oversight for investment Banks and is one of the figures frequently blamed for ignoring the systemic risk that eventually led to the subprime mortgage collapse and he's he was around screwing up back in the day. I mean this is not his first dance. It could a good for him. Getting in another Tango he's the wealthiest from all the reports he's a wealthiest commissioner chair and never. Yeah. there's really a lot I could go on about, but I I'll just add this other tidbit Ballpark and in 2006, He argued that Grant granting executive stock option, right? Before. Good news was released shouldn't be considered insider trading. He said quote it is cheaper to pay a person with well-timed options and with cash. So he was He was suggesting. This is the SEC commissioner were suggesting that you could basically use you insider trading because jury rig? Yes, you should. I mean, what a joke. Paul Atkins. You blame him. What about Elon Musk? Let's not forget Doge stepped in beginning of the year, got rid of a lot of SEC workers fired. A bunch first. Then he didn't, he bought out a lot so they don't go on the board as being fired but he bought out a lot. And then he also replaced, he put some of his own Doge, people into key administrative roles and sec to oversee some of this nonsense. So, you know, could you blame Elon? I mean, can you believe like Elon Musk is skated completely free of all? This somehow, I don't did, he does anymore. But how is he not showing up to a congressional hearing on some of this stuff? I mean, what was he up? I just paid in Congress. I just read this morning that there's report. That the reason why they slashed all the money to USA was because someone thought, all they did was abortion stuff. They said abortion stuff. It didn't realize that they did other stuff. I mean, this guy Elon has such a moron that he didn't even look into stuff. He just kind of did emotional. He didn't know, didn't read like that. So so far, we have Trump. We have Atkins, we have musk. And then finally, do we just blame Biden because without Biden, this number wouldn't have fallen so much. Because, under Biden's last year, the Horsemen were up, and this makes it look bad because they've, all right, like, oh yeah, really it's, it's not a function of their worse. It's that Biden. Just overdid it and it makes everyone worse. Oh, you land on this. The SEC is basically, just stopping giving up that last one is very compelling to me to blame Biden because isn't that, who everyone blames anyway, in this government, it was all Biden's fault. Everything was fine. I mean, we only were at like, you know, you know, 2% inflation and peace and the stock market was at a highest ever. And we were, he was old man. He was old, and all of that stuff he was left and, and this country hated it so much. We hate old people here. Not just old people, we hated having good things so much. It was literally like everything up. We like Disney, and Pepsi, Biden, it's by, I'm blaming Biden. It's all about this. Oh, you're next. Come on, let's get this. Let's get quickly. My last one is relatively quick. What do you go? My last one is relatively quick to you mentioned. This actually, as a headline, one of yours. Oh, um, about open Ai and and Amazon getting married. Yeah, that this headline openai touts. Amazon Alliance in memo says Microsoft has limited our ability to reach clients. So Amazon now is ready to unleash, Sam Altman. Even after this is a, this is even after the one of the most scathing harrowing profiles of a person I've ever read was really by the New Yorker about how he's a sociopath on like bent on narcissistic control of the AI doomsday button. Yeah. Who do you blame now at Amazon? Go ahead. First on, I like this because openai has all the incentive in the world. To find any massive Mega millionaire Amazon enough. In fact, I think in one of our upcoming proxy countdowns, we're going to look at the Amazon's annual. I think we have to because go ahead. This is like Amazon is, is now becoming another evil empire that they always were, but coming more. So yeah. Okay. Go ahead, who do you blame in Amazon? Do you blame Uncle Jefe seems like the obvious one executive chair. Now people forget like people think he's not the CEO anymore, so he's gone, he's the executive chair, he still owns like 7% of the stock. He still give them like two million dollars a year on security costs. He has 67% of the influence on this board. He used his money to destroy the Washington Post to buy a mega mega yacht. And throw a mega mega mega wedding. His wife is just profiled in the New York Times as basically saying that the uber wealthy need to stop being so ashamed of their wealth and started. Wanting it like be happy and flaunt your wealth. Yeah. Like they haven't been like yeah. Okay. So you've got Uncle have a okay. CEO Andy jassy. Who has laid off 14,000 people in October. Another 16,000 in January, all for AI but I I don't know I can't seriously think he's actually running this company. Do you seriously? Do we seriously think Andy Jackson? I can't tell you like to see. Oh, I'm guessing like, he's probably yeah, he's day-to-day operational but he's not, I'm sure he's not pulling the truth. Not the guy like making the big decision, right? Like, where's the guy that like Jeff says, like make sure that that that truck gets to my house? He's probably very good at all. Do we blame board member Andrew? I don't, how do you saying? Yeah, Andrew ing. Who in his bio just on the Amazon bio says AI fund, LP managing partner deep learning dot AI, LLC founder, Landing AI founder chairman and co-founder of coceira managing partner of AI espiar. If he wrote AI any more times in his bio, it would just it would Seem like, Chad, GB team made him up as an AI, which is Paul. But he also, Partnered with open AI for courses, at his shity AI learning companies. And he apparently was Sam Altman's. Professor at Stanford. Oh, for the like, one day, that Samuel and went there. I like, yeah. Could you be any more tied know? I mean, that makes perfect sense and he's supposed to be like the AI Guru. He's on the board of Amazon. He's the AI Guru, and he's Sam Altman's and, you know, Sam condo Professor. Yeah, and I'm sure that relationship is important. Do we blame board member Patricia stonecipher just because of the name Patricia? Well, first of all, it's a woman. Yeah. Um, second of all, this is what she had her bio Miss Stone safe for his served as a trustee of the Rockefeller foundation, and private Foundation dedicated to promoting the well-being of humanity throughout the world. Look, you know, this is one of my favorite things is, like, finding the foundation to some of these people sit on because they're always about, just like, The doing the best things, right? Like we're gonna Feed the Homeless, we're gonna do everything except we're, we don't, and we, we won't, and we have the ability, but we don't we pretended to know how. And now, how can you sit on the board? Do you Trustee of the Rockefeller Foundation? Whose mission is promoting the well-being of humanity. While you sit on the Amazon board and literally promote the downfall of humans. Everyone singing around. You has a similar background. That's why that's how I just I saw, I want it. Could we blame her? We could, or finally, could we blame a tree? Oh, or a Quadro of quartet? Yes. Jonathan Rubenstein. My favorite Quadro was the Beatles. The other rooms in Keith Alexander Wendell weeks and Jamie gorelick. Why them? Free float data says they are the only ones on the board with knowledge in public safety. No interest. That's Cornell College. And in fact, almost all of them serve on the Public Safety Committee of this board, but they have a combined influence of 10%. So, but, yeah, because Uncle, he's stealing it all. He's got it all. Yeah, who do you blame? Huh. You know what? I, I would. You always have to blame Jefe, but but you know what? I got convinced that the really the person to get rid of you can't, you're not gonna be able to vote him out. It's just not gonna happen. It's like trying to get rid of musk because as much as I dream about it it's never gonna happen. So I'm gonna shut up about it. So who I want to get out? Is the the conduit to say? I'm Altman. Because we all remember our look, I actually graduated from college. I mean, I'm not trying to show off, but I actually they face. Yeah, I stayed I turned in on my paper. I got it all done but those relationships you have with professors at that age or very important. And and if if in My Chosen field, one of my professors was at a company that I was doing business with that would be a very special relationship. I mean I'm sure that would last forever you know, like it just wouldn't go away and you telling me that not only is he the stamp for doing. He's the AI guy. He's partnering with opening a guy, but he taught Sam Altman. I mean, yeah. He's the guy. The guy I'm gonna die. I like that. I like that pick. That's a sorry. Let's finish this game forever taking. Errors and now let's end on stupid. not like the rest of it hasn't been together, but still now, I'll apologize beforehand for this one but this is the stuff that's important in to the world Hudson Technologies announces election of Alan Sheriff. And Jeffrey wheeler as independent directors. Who do you blame sheriff and feeler? Yeah, you know where I'm going with this sheriff and feeler. Okay. Do you blame top shareholder Ernest Lazarus? He owns 90% of the company. Now Lazarus is a Biblical figure known for being raised from the dead by Jesus, right? Yeah, the name represents Resurrection, right? So I'm thinking that maybe he needed a sheriff in case all that digging up corpses from cemeteries went sour, right? Like, I mean that's a, that's a dirty business like resurrecting people. And right, so I mean, a Lazarus might need a law enforcement, might need a sheriff to keep it all. On the level that's not thinking I will say that that's an interesting hot take, you know how like they got elected. Do you blame direct your loan manzi now alone? Getting a good loan all names. Now, getting a good loan is all about putting out feelers right to different banks, right? So yeah, so low needed a feeler to get shit done. So, okay, so you blame loan for getting loan. Also needs to sheriff in case someone doesn't pay back. I didn't think of that. So you could. Yeah, it's a double their do both, what about direct your Vincent Abba tokola? Now, forgive me. Maybe, I've watched too many episodes of The Sopranos. But Vinny used to be the chair. The chairman of the national package is Association, and that's a kind of scary, doesn't it is that real? Is it? Yeah. No, it's real, it's in the bio in the proxy and it's like, it's like put him on Ice viney, you know? It's like it's kind of, right? It's kind of, I don't like Waste Management to me. And speaking of death Vinny is all so Direct on the United. Hospice Board. Again it's like who is this Vinny guy, who are these people by the way? This is all true. This is all real. That's okay. And then speaking of God, he's also serves on the Saint Thomas Aquinas, Aquinas College, president Council. Right. So And Thomas quietness was like, a big deal, right? Yeah. He had missed. He had a, he was declared the doctor of the church. He had mystical experiences so I don't know. It just, you know, it just all feeler you or finally. Do blame director CEO president chair, former CEO, former CFO and top shareholder at 6%, Brian Coleman, who has been with the company since 1997, right? And somehow he still said he's on the nomination committee that okay, can we just stop right there, right? I mean this that's just cheating. I mean I mean how was the CEO on the nomination committee? So I mean it must have been human asked for sheriff in a field. First of all. First of all, I don't know, just as a testament, this is the level of research and data required. All really do this, show loan manzi and, and like sheriff and Feeler and look, look to be honest. They're all real if you want to know my thought process here. This horrible shows that I I giggle at the headline, right? Sheriff and feel her, but then I open the proxy I got to make sure there's some kind of a narrative. I can't put it together, I'm not gonna do it but it all fell on the place for me on this one. It's pretty impressive Lazarus National Championship committee. I mean it's like what the hell I was yeah. Unfortunately there's only one answer. It's the director CEO CEO, president chair former so you know former CFO and and top share old alright Brian Coleman as much as I want loan man's to be there I just can't believe you know I had Hospice Board. And National packaged Isis. That is so Waste Management. That is that might be the one of your best pulls ever though. Hey I just that I'm letting the data and the research speak there. That's not me. That's that's all from the proxy statement. I love all that. That's all we got. That, that's all you got. That's the blame game that says, I'm not wrong. They see people. So I see people post on LinkedIn like one thing, like someone get a raise and they get like 55,000 Kudos, you spent probably 12 hours, pulling the show together. We'll get, we'll get three zeros and that's it. Come back on Thursday, we gonna have to do a proxy countdown show. There's a show tomorrow, the Cheryl's are Primacy that's gonna drop. Oh, and have their show tomorrow. That's dropping on Friday. We wrap up the week, oh my God. So much content until then good. Bye.