Transcript
Come on. All right. Oh there it is live. From your ESG and Dei teeth. Bleaching kit. Oh, We're what is the act turning turning your teeth? White is not woke, right? Which is the active ingredient in the teeth bleaching, the D, the e or the. I I think it's an ESG sizzle. Oh God, it's a business pants Friday show here at February 21st Studios. Featuring analyst hole at Busch Gardens. You already heard him? Come on Matt, come on. Hey, On today's weekly wrap-up, Canada still cares. Rupert Murdoch knows how to text. the illusion of meritocracy, and in an important new announcement from YouTube, Oh not. I thought you were gonna say you too. I was getting excited for a second there like, oh, they're still a thing. Yeah, I think today is being sponsored by free flow analytics.com. The only platform measuring for board power connections and performance for free. We know it's for free because the people at Freeport analytics.com, a few weeks ago, they kind of handed us a list of some of the users and none of those people. I don't think they're paying us. I shouldn't say us. They're not paying free flow, analytics.com. That's right. They don't pay free flow analytic. Well, so it is free. I mean, we can confirm that. There are people who go to free flow analytics.com, sign up for a free account, and use it for free because free flow analytics said they get zero dollars from that. Like they said. Yeah. Like and me let's uh, we're just talking. I feel like, so, we're gonna do Story the week. We're gonna do good lease of the week and so the week and we're gonna do headlines and winners and predictions. But like, every side, he's so relieved, but don't we have? We're just saying that there's a little bit of a problem because for five years, we've been kind of doing this show. Yeah, that's a problem. That's that, that's probably wrong problem. Number two is the jokes that we made five years ago about things that Were absurd we call sarcastic jokes. We like point out absurdities and we take them to the nth degree. All of the things that we did that were meant to be sort of absurd. Contortions? What? We're seeing ironic things. Yeah, they're kind of now. All. Happening, they're all we do. What did we did we play our flute wrong, we're like the where the the evil Pied Piper of the corporate world. How did we screw this up? Do we blame ourselves? Yes, this is our fault and our three listeners. Yes. Or is it or is it that the world moved in this direction? We just saw it coming. Which is better? Could we do both on this one? Okay. Yeah. Are we officially the Beavis and Butt-head of the ESG sector? Is that why msci doesn't return our calls? Are we even calling in the first place? I don't even know. I, I prefer to be the Matt Stone and Trey. Parker of the issue. Yes. Now, you just getting you above my head. Now, you two intelligent two intellectual. All right, you ready for story of the week, let's do it. Last week, I kind of focused on CEO Centrex stories this week. I'm taking a bit more of a stakeholder. View. Let's start at the confusing top. Yeah, let's start at the very confusing top and we can spend as little, or, as much time on this as you want. I don't know, maybe you're covering this later, but it's kind of in a weird nerdy ESG week. And by that, I mean, first, there was a headline saying that proxy vote support for ESG, drops to record low in 2024 and then there were all these strange headlines first. There was BlackRock and Vanguard halt meetings with companies after SCC cracks down on ESG. But then I follow up Black Rock. Resumes stewardship talks after reviewing new ESG guns. You want to weigh in on any of this? Yeah well here's my go ahead. I'm not sure which one I was rooting for with black rock. Yeah. Like, do we need them there and what do they saying? What, what is the conversation when BlackRock comes back into the meeting room? Like, well, you know, we're supporting everything anyway, right? So we're just well, that's the problem. So chat. So, but, but that was your daughter, they supported everything before they halted the meetings, and then after. So here's how is your new Audi? I think that's the connotation that is such a 90s like luxury car like you have. Yeah, come on update. Update your what is an updated luxury car? I mean, helicopter a private jet it's it's a it's a Oculus Pro that you wear in the metaverse. Thats your luxury car these days. It's so just by the way, background on the BlackRock, Vanguard story we've talked already on the show about SEC guidance around certain filings that would have made black rock look like an activist if they asked, if they quote on anything fresh heard. Any any company for anything, right? Noting of course, that BlackRock is there as a representative of you, their client. And you are the owner of that company. You basically hired BlackRock to go to that company and tell them to do stuff to protect the value of your asset. Right kind of sniff around and ask why the CEO pay ratio is 1200 to 1 that kind of thing. And their job is to say things, like look if You're Deo. Pay ratio doesn't go from 1200, to 1 to 1199 to one. We're gonna vote against pay, right? Like, that's that. That's what they're supposed to do, right? SEC said, if you say that, you now will be considered inactive artist. Your pressuring, the companies you're a big meanie and a big jerk and we're gonna make, you know, some pelts. So BlackRock and Vanguard basically stopped all their meetings to say, like okay, well, can we even do engagement anymore? And within 2048 hours, 24 to 48 hours, they resumed the meetings, and here's what BlackRock said they now at the beginning of every meeting say we are a passive investor and that's all they had to do. Now, we can have this conversation. Okay, well, let me okay, let me back up this conversation with this because I made reference to this proxy vote support for ESG. Drops to record loan. 2024, we actually covered this on one of our shows so this is a bit of a clarification to think we've got some of the data wrong. So this is from Cher action, this is their new report, first of all and looking at their methodology, Matt. They don't actually cover ESG, shareholder resolution. It's yes I didn't see a single governance resolution. So of course the headline get to wrong and and they only looked at 279 resolutions I thought it was more thorough than that and this this one percent figure that was was trotted out some other business, news articles was Misleading in the sense that there isn't one percent support for the resolution. Only 1% out of the 279 resolutions received a majority support. Okay? So anyway, let me get beyond that misunderstanding, but let me get to the most important part. They looked at 70 different of the world's largest asset managers voting patterns. Here's why I bring it up. Is that at number 67 with a score of 5, on a scale of 0 to 100? BlackRock is at number 67, right? Yeah. Meaning that they basically support management every single step of the way. Yeah, and dead. Last place at number 70, with the only zero in the whole group. They actually they vote in favor of 0% of shareholder. Proposals is Vanguard Matt. Oh cares. If they're pausing their meetings, who actually cares. Well, this is where we get into the argument of should they? This is so much Kabuki theater. Should they be voting at? All right? Like, and and frankly, that share action number that you just clarified because we did this on proxy countdown, which drops yesterday the 1.4%. So just for context sake, A director's point zero, two percent of directors. Are I'm sorry. Point two percent of directors point two. Okay, a majority vote against them. Okay. Two Which means there's seven times the support for shareholder resolutions as there is a an effort to even get a director out. That's just because Gus Gus probably missed a meeting or two, that's the way. Yeah. Yeah, he was in the hallway, sneezing for too long. I missed the, the big Parts, but the should these, I pose, this should they be voting at all? And then I'm of the second mind of. Well, now that they've been freed up to like, they don't these conversations, they can't pressure anybody, right? So they all it is, is they go in and they have to say we're a passive investor. And then they ask some questions but they say nothing that they want, they can't go out there and say, here's what we want. Here's what we're worried about it, nothing. Yeah. So all they do is say like, so, what do you guys doing on climate change? And when they say, like, oh we've got all these programs in place, you just write it down and then you say, what are you doing about diversity? Oh, we just cut all our programs because we're worried about legal liability, you just write that down and then you go home, BlackRock, and you vote against every director on the board. And there's no, you can't possibly say they pressured because they didn't hold it. There was no quid pro quo. There was no, we want you to do this thing. Doesn't that free them? Does it free them or should we revoke the vote entirely? Well, I don't know. But here's here's where that one percent figure is important is that as it was only in 2021 where that number was 21%. So the real question Matt is is are, can we pass a law that ensures that BlackRock and Vanguard remained principled and don't just bend to any Vertical pressure in the short term, right? I mean, how do we go from 21% to 1%? Well, in three short years? How is that even possible? First of all, what's changed, what's changed? Keep them principled. What it really? Well, I think 21% is a respectable figure. I mean, it's 21% of shareholder resolutions passed in 2021. That seems respectable to me. I I'm sorry. But what the hell has changed, you know, denominator in 2021. How many proposals were there in 2021? Like, I'd have to go back into like, seven wonderful report? Yeah, I don't know. I'm imagining again. This is they're looking at 300 proposes 2024. I don't know. The, I don't know that number for 2021. Hey, I want to add one another thing. There are asset managers who are actually doing their jobs. I don't want to leave them out. Yeah, that's correct. The list of 70 asset managers covered in this study, the first American company doesn't show up until number 28, that's Federated Hermes. Hermes or may I heard me? Yes. Yeah they they have a score of 80 out of a scale of zero to 100 so that's pretty good at the top. 26 are all in Europe led by Jen am and Italy with a 98. BNP paraba in France for the 97 and pggm investments in the Netherlands at 97. So anyway, I don't want to get that out. Shout out to BMP power because I posted on LinkedIn about you know this about it. Should pass investors have the right to vote and the head like someone at BMP basically replied. Yeah they absolutely should and when I looked at their data I just you know they do I just looked at the they absolutely do more than 40% of the time they vote against directors and so clearly someone is, but when you do the math and this is what we spent our time doing there are over 2000 companies between both BlackRock and Vanguard 2000 companies where they would both be 13, G files. Meaning they have more than 5% Takes. There are companies where BlackRock and Vanguard collectively owned 30% of the outstanding shares of the companies. It almost doesn't matter what you do. You should just consider them insiders at that point, right? Like if you're voting only for managed meant and you have 30% of the shares. What are you, like again? Doing we're mostly looking at the, the investment firms, like, BlackRock, and Vanguard and Fidelity. I think, State Street, those types Fidelity and State Street, they own a lot but they're rarely over the 5% threshold, like they own, almost as many they show up in the top 10 of shareholders, almost, as many times as Vanguard and BlackRock do, but they the percentage of those companies where they own 5% or more is less than a 10th of Black Rock in Vanguard, I'm going to move on because if we, if at this pace, the shows gonna be 17 hours long. This second story of the week. We always talk about a stupid C. O of Tesla. What's his name? Elon Musk. So again, I'm taking a stakeholder point of view this time. A lot of our technology, a lot of articles with this subject, this week, Tesla targeted with Worldwide protests and vandalism. Here's some of the other headlines. Tesla showrooms are being hit by a wave of anti Doge protests Sheryl Crow says goodbye to her Tesla. Uh saying you have to decide who you are willing to align with. That's right, Cheryl, that's kind of what we do here. You would be a good maybe investor in our company because that we're trying to help investors decide who they want to align with, right. Here's a sign. That's another headline. Sign that says we hate him too appears in window of Tesla dealership. So there was a there was a photo of the employees at Tesla also saying that they hate their boss and finally this headline an economist he is the former Chief Economist of the Department of Labor, Jesse Rothstein. He says a continent is warns that Elon Musk is about to cause a deep deep recession quote. This is going to be very, very bad and quote. So there you go. Those are some of the stakeholder point of views on on what's going on, move on, I hate. Okay, here's this next story. I wanted a wedge in the week because I mostly because back to Tesla here, I wonder if this is not make the case why Jamie? Why James Murdoch should not be on the Tesla board. Okay, ready for this story. Here's the headline, James Murdoch, lays bare. His relationship with misogynist father, Her amid succession fight in rare interview. So he gave a huge interview published by the Atlantic about this. This battle they had in the Nevada courts about who, you know which kid was gonna inherit Rupert's Fortune. And the interview talks about a series of withering questions. Put to James by Rupert's lawyer in a nearly five-hour session at a Manhattan law office and here's some of the questions, according to the interview and to Atlantic magazine, one is. Have you ever done anything successful on your own? Oh wow, right. Another is. Does it strike you that in your account everything that goes wrong is always. Somebody else's fault. How about this one? The lawyer also referred to James in his sister's as quote, White Privilege multi-billionaire. Trust fund babies and quote, wait a minute, the hook of the story Matt, is that James realized it was Rupert. Who was sitting silently texting, the questions to the lawyer, And James said in this article how fucking twisted is that so Matt is Rupert, not making the case that really James has no expertise to even be on the Tesla. Wait a minute, just a trust fund baby. When I go through the data in our database of the number of nepo babies in the database. Yeah, get them. Get rid of them. Get, what do we have? Any of them for? That's what Rupert's saying. This is what Rupert's saying right? Except for I guess. Except for Lachlan, he likes to Laughlin honestly, actually. So I have inherited like zero things. I grew up upper middle class. I'm a white heterosexual male. I'm as a basically, as privileged, as you get and you could ask me all the same questions. I'm not sure how I would answer, how about this one. How about this one that I left out? Why were you too busy to say? Happy birthday to birthday to your father when he turned 90? Oh, Imagine that, these are the questions being asked if 5 hours session at him in hot Manhattan, office is it that your texting? You didn't even say happy birthday, it's weird, it's weird. It's really weird. He really wants his fortune to go to Lockland, right? Because Lachlan is the only one believes in Fox News. Lachlan texted women, suck, happy birthday dad on his 90th. That's why that's my third story of the week and for any of you succession fans out there, I'm sure there's a lot of you is Eerie how much that sounds like an episode from succession. I mean, this is after the series aired so They really got that right. Nailed it and finally the four story of the week. Let's go back to United Health United Health. Here's the headline. This morning, United Health's rough stretch continues with buyouts they're offering employee buyouts. They're also hinting at potential layoffs. They also just reported. There's a department of justice has launched a civil fraud investigation into United Health. Billing practices, Bill Ackman is getting involved. You never want Bill, Ackman of, oh yeah, yeah, the share price is tanking. And again, this is all the background of all this, of course, is that one of their name executive offers. All right. Brian Thompson was murdered in Manhattan in November so bad for United Health. Yeah. Do we think? It this would have happened if not for the murder. No, I actually don't at the weird thing. I mean, I am not a conspiracy theorist, but I just feel like it opened the door to to dump on. Not only this company but the whole industry, right? And it's and I'm guessing it's pulling pretty well for both sides of the political aisle that this is I did I read on oan the One America Network the hard, right? Conservative, you know online whatever it is. They had some story that was stopped. Hey Dems, stop lying, icing Luigi, Mangione the killer. So I think they're they're moving steadily to United Health Group side so that's yeah, I don't know that it's just Democrats doing that but that remains to be seen. Yeah I think it's just I just think it's angry people who are already angry so my four options for story the week are some vague ESG stewardship voting thing it Been, it would have been a little bit more fun if BlackRock hadn't already changed his mind. But yeah, go ahead. Um, Tesla being the target of hate everyone James Murdock's story about his relationship with his father, which is fabulous and United Health. Rough, stretch, those are my stories, really? Those are, the stories help me out. You're always welcome to add a story I missed, but there's what am I gonna do? Put another horrible company. That is getting rid of his Dei policy. Like what what else should I be about? Adding to this list? Another CEO got a huge raise for. Absolutely. No reason. Like, is that a story of the week? There you go. I I have to go Because it's so wonky and dear to us. I have to go with the ESG. Yeah, why not? Yeah. I mean yeah. The other ones feel like forever stories in a weird way. All right. Let's let's spend no more time on that. Let's be happy. Let's do goodly. Yeah. Happy's, a loose term. I got a bunch. Yeah, three actually I got three but they're all short. Yeah, I have. Yeah, go ahead. Here's the first one. Just add line. NASA has some good news about the asteroid that could hit Earth. What's the good news? So we reported last week, 3.2% chance, 3.2% chance. Well, they did redid the calculations. They looked at the trajectory they watched it for another week, and they realized it's a 1.4% chance, but still above the percentage of Cheryl proposals that Vanguard is saying, yes, But now it's equal to the number of resolutions that got a majority vote in 2020 for. So that's better. Yeah, what else? Yeah. Oh, you want me to do all of them? Do all of them. It's up to you sneak one in here. Okay, dude, Coca-Cola says this Dei is good for our business. How about that? Blah, blah, blah. Oh, stop it in an annual file in. The company said, its business could be adversely affected if it was unable to attract or retain, specialized Talent OR top talent with diverse perspectives experiences and backgrounds. So someone some so somebody else is caring. What is it? Like, it's Coke, it's apple and its Costco. Was that basically what what's the saying? Twice bitten once? Whatever. What's it saying? I'm just trying to feel because here's the thing. Jamie dimon said, Bring it on, Bring It On about it, and HEI people. Yeah. And and, like, all these companies, are they Know, the companies that were serious about it, there's clearly two cohorts for me here. The companies that were serious about it in the first place recognizing benefits from it. Realizing they're expanding their talent pool. They're getting smarter about hiring, they're getting better Talent, they're making better decisions, there's more Innovation. All the things we associate with the academic studies around diverse, cohorts, create better outcomes. We know that to be true from years of Academia, in our own research, free float data. The data we get from free flow analytics that they've given us we found that black women and men have higher Merit on boards than any other cohort, based on their knowledge, their leadership. And we'll come back, I'll come back to that anyway, but the fact is their companies that know that this works and the first thing they do is say this is good. This is good for our business, Bring it on, Bring on the fight, know we absolutely need Dei. And then there's the companies that and then they all end up having to retreat, because They're terrified, it's sued and then there's the companies who never did it seriously in the first place in Retreat. Also, Yeah, well, I partially did Coca-Cola did this mostly because their headquartered in what's considered the the capital of Black America, right? The culturally, the cultural capital where the most black wealth is in Atlanta, Georgia. Do you think that has something to do with it? I I don't think so. Okay, all right, I got one for you, right? This one is actually great for future lawsuits against two against return to office mandates. I don't talk about go ahead, you know, everyone's like, get back in the office, they're still talking about, get back in the office. It's been, you know, five years since covid and there's still like thinking it matters to be back in the office, somehow you survived, you had record profits in the last five years, but everyone's got to get back to the office because that's where, you know, we need everybody. Well those those office mandates. I think you can sue based on this, here's the headline after noon, naps boost. Your problem solving study fine. You know, I might need this, you know, I, I have noticed that after we record our shows, I do dip. Well, I drastically. Maybe I just need an afternoon nap when they said after afternoon naps the study I thought like, oh, you know, like that's 20 minutes, take a 20 minute, cat dad. That's my, that's my power. Now, I set my alarm for 20 minutes. The study was 110 minute now. No, no, I can't do that. I can't do that. I almost two hours. That's terrible. I could actually fall for two hours in the middle of the day, but second of all, don't you always wake up, like, kind of a drooling hot mess like you're like in a fever dream. I don't need any of that. No, get give me my nap time even if I don't nap, I want my nap time. Okay, here's an entity. Even bigger than Coca-Cola actually. It's arguable. Maybe Coca-Cola is actually more powerful and bigger than this next entity that supporting diversity. But here's the headline. Canadian Banks must reveal diversity of board. Top managers under new rules. Oh, why? Why just Banks. You know, I don't actually know the question that maybe this is part of the sector that regulates just banking organization must. Yeah, here's the quote diversity is fundamental to creating a thriving successful financial sector that reflects Canadian values. There he goes. So so what we're seeing, Matt in the Trump era Trump 2.0. Was that? If you, if you listen very carefully to our friends from the south or the North, you'll understand how actual adults get things done? So here's a problem, Mexico in Canada for all you dummies out there. Here's a problem that I have. You have a lot of problems. Well, I'm full of problem. I'm just a giant problem. They the way they phrase this is is basically like its inclusion language and I agree with that. But if you said diversity, is fundamental to innovation. I feel like you'd have a could be implied, maybe some, I mean, right? Apply it stopped and saying, say it say basically, when we look at diverse cohorts, they tend to be more qualified for the jobs that we, that, that we are to give to non-diverse cohorts. When we look at Innovative outcomes, they're more Innovative outcomes with greater diversity. Say those things, well, that stop saying. Yeah, like that, we have to say those things map. Because again, if I had a very complicated problem to solve, my, first instinct would be to collect 10, different people representing 10, different ways of solving, that same problem. And I'm pretty sure we'll get to a conclusion, right? Like, I will figure out the answer together, not just not just a group thing of weirdos, I just don't want to hear reflex Canadian values because while it reflects my value, that's where they get their lawsuits from. Now that like well maybe not the value is yeah, I should add that. They also are regulating financial institutions that they must also Des Those policies to increase diversity while when they announced their annual meeting. So that's a, that's a step even beyond. All right, all right, I'll give you my last one. All right. You ready for this? What a good list? Yeah, it's just the headline because it's the only thing that really matters. What's in that drink? Starbucks becomes less instagrammable. You know I saw this headline too and it made me feel good for some weird reason like anything less instagrammable sounds like, that's correct. Yes. When is? What are we doing? If we're Making for Instagram, anyway. it's drink the drink, because it's Good. This is great. Don't be instagrammable before we vote on those four goodlow stories of the week. I want to already announced a couple of reversals. These are stories that we've covered in this category. Recently, first of all, Amazon workers have rejected the Union in a vote at a North Carolina Warehouse. They really they really destroy. It was like a huge loss. I don't I don't get it. I really just don't get it. The other reversal which makes me angry and very sad is one that I really love. Trump has already rescinded a Department of Transportation approval for a New York City, congestion toll, which is what the headline says, condemns the city to pollution stopping in, he's stepping into New York City and saying that they can't do that. Of course, the, the governor of New York is already like, you know, we're gonna Sue back, but this is just ridiculous. He explained to me, like, do you have to ask Daddy if you could set up a toll and you're like your state can't, just wait. But are we for we A big government or small government, which is it. You idiots like doge is firing everyone that right there there because big government, right? They're cutting funding for scientists, everything horrible, right. They're even cutting like firefighters, but but we're also stepping in and saying that we need more cars in Manhattan. It doesn't make any sense to me. All right, well, just a troll. Just a troll. The obvious goodly is here, is what's in? That drink Starbucks become fine. Let's just vote on that. Yeah, I actually agree actually, that's, I mean, I want to say Canada, but no, I think really, if we can just work together as a culture, to make everything so, less instagrammable, that eventually, it's Instagram is gone. Then I think we've won something. I agree. Let's move on to asshole's. All right, go ahead. Come on. All right. I'm I got shorter assholes this week. Thank God. All right. Number one, good list? Yeah. Go ahead. Meritocracy. The new buzzword meritocracy. Did I hate this buzzword? Here's what I saw the headline, said, Exxon swaps, diversity for meritocracy in report to investors. That's right. That's what it did. They actually just remove the word diversity, and replace it with meritocracy. Grossest, gaslighting everywhere? Yeah, go ahead. Well, according to our data or free float date, I should say one of exons, 12 directors, one meets what free float flagged. As Merit measures. That was just say and free flow. How to come up with these measures because I'm almost guaranteeing, man. I didn't look at what like precisely what Exxon said. I'm almost guaranteeing. That they did not actually release a methodology, that is why do that? When you can just shit on people of color and women by right? What, why actually release a criteria? Why do so there's that's the win everybody gets to say meritocracy instead of diversity, but no one has to Define meritocracy at all. So free float. Did it? They created Five Flags for knowledge in the industry Network, Power, economic interests performance, and whether or not you've basically been a leader in the past CEO position or multiple board positions, really simple sort of high level measures of should you be on a board? Well using those incredibly simple measures of marriage people for most people, understand directors, seriously, at least three of them, like only one you want to know who the one director on Merritt was kaisa Hai. Tala course, the woman, do you recognize that name? Know she was the Event director, put there by engine number one, in an activist vote. She's not even the director put there by EX on themselves. Yeah, Matt. Can I just say that this once again supports my theory that the the modern use of corporate boards is just insulate CEOs. It's just to protect them. The CEO is King. The board is just there to block. That's all they're doing. That's that's it. One problem. With that theory is that it you said modern went, it's really just always okay. I'm sorry, that's true. Yeah well I say modern because you know 20 25 years ago when the corporate governance movement was gaining some legs. I thought maybe there was a possibility that we were going to segue out of this like we were actually gonna find independent oversight you know. Well so for the purposes of this study, I wanted to know what where is the Merit why is there so much Merit missing. We know that having diverse candidates to boards. Good improve. Merit well, the merits missing because seven of the 12 directors are white men, right? 60% of the directors on the Exxon 58% of the Exxon board members are just white men. Seems the majority that's the majority of the majority and not I didn't include the white women. That's just the white men. That's not the white people. That's the white man. In fact, there are two people of color and they're too. First, a woman born in Egypt, who lives in Texas, her whole life and was part of the Trump Administration and the first Administration, right? Um, and then a black guy who's on three other boards, right? So he's just kind of a placeholder as soon as so. I mean our data shows that black women have more Merit on paper than any other cohort. I mentioned that already. So here's a new plan Exxon. In fact, not just for you for every company, you should all announced meritocracy targets. Now, I want to yeah, you had University targets back know, like in 2020 that you're all rolling back, rub it. I want you to set out meritocracy targets. Oh why in the number of employees Executives and directors that will meet meritocracy requirements by 2050? The results should be after you announced that that 100% of every Company employee is a black woman. That's that's what the results should be. Okay, you're welcome, stop, the horseshit stop. Stop just trying out this. This Racist misogynistic we're just proved. Tell us. Show me methodology, prove it actually. All right easy. All right, what else? Number two? Yeah. This is your job. This is your job you asshole. Here's the headline, yeah. Boeing CEO, Praises, Elon Musk for helping with delayed Air Force, One delivery. He's a brilliant guy. I saw that, that's obviously just blatant, kissing up, but yeah, go ahead. It is your literal job to build that thing for your client. I mean, imagine if free float, what came out with a bunch of sucky director data. Yeah, and we said, which one, this this sucks. And and then free float says, oh well, don't worry. We hired ISS to build it for us because they're better at it. Yeah, it's your job Boeing CEO. You're the one who has to get Air Force One. Don't ask Elon Musk for help and investors. This is the full you elected to the board. This is the full. This is your money. It's your job is the owner of the company to keep the board management team like honest if the board management team basically needs help to do their job, should they be The board and management team. Should they even be there? I mean Ohio is suing the Attorney General is suing Boeing's board for failure to do their job. Meanwhile they voted for all of them you they none of them should exist. If you can't do this job you shouldn't be begging Elon Musk for help. You should be fired. That's what you say. Yeah the man you talking about is Kelly ortberg yes Kelly ortberg. Okay he does have a name so fire and wellness. What else? Number three, I like how short these are. Yeah. This is what it was always about. This is the this is I'm gonna I'm gonna make this his craft as possible. This is the worst version of fuck. Mary kill you ever played that game. Fuck Mary kill, not really, but I know of the game and pop culture. I mean the game is like there's three people and you say, which would you fuck? Yeah. Would you marry? Which would you kill? Sure. Um but this is the worst version of the game because this is about Elon Musk. He Will fuck anyone with a vagina because he's a big middle school boy. He want, he'll marry his money in the he'll kill anybody, everybody. He doesn't care about it. It's the worst version of that game. And this is what the tech Pros are about. This is what the administration's about here. The headlines and influencer says, she had Elon musk's baby and the dramas pity pretty spectacular. Even by his standards, a 13th, baby was born and announced two days ago, three days ago by a conservative influencer, who was flirting, with musk, because he inserted himself into her DMS. Apparently, you know, this is all about getting laid. Like, you bought Twitter, the same reasons, Zuckerberg made Facebook, it's to get laid well, because you're late school, boys. He obviously wants to have children, too. I mean, and then that, and then, there's this headline Elon Musk has a problem with ex Community notes. When he disapproves of the results I saw this. Yeah, this, this was about the war in Ukraine. Yeah. So Is going to change the community notes because people were flagging him, his own Community, flagged him, and now he's going to basically make exceptions for himself, of course, because he doesn't want to be free speech, free speech. That's what free speech is. Yeah. Um, and and finally Elon Musk is flagrantly, gutting, an agency in charge of regulating Tesla. Well man. Yeah and that's that you could. There were like 20 other. I'm thank you for for giving us a bit of a break. There are 20 other headlines. I also tag that you could have used to support this category. Oh no doubt. Um and and I just like this, the second headline that goes with, he's cutting gutting and agency in charge of regulating Tesla. The headline, literally, like three headlines down, in your polls was Tesla recalls, more than 375,000 Vehicles, due to power steering issue. That's seems like a problem. First of all that almost seems like all the vehicles I've sold. And second of all anything to do with steering, I don't like that. Yeah, really bad. That's correct. This is the Genius. That's helping Boeing but this is a genius. This is the brilliant guy helping going. Yeah, look this, it's all Kabuki theater. It's only ever about how can I get laid, how can I make more? And I don't care what the consequences are? Well, that's it. One thing. One thing we've learned from the musk Trump error, the 2.0 musk Trump presidency is that it is all about controlling the narrative that because that's the only reason why these these spineless boards would be giving up on their Dei programs because they've just feel like they've lost the narrative, right? They they can't see their way out of it. They're just afraid. So those are your options. All right? Okay. One of my options, meritocracy. This Boeing, and it was always about getting laid marrying and killing people. Now, this is easy. This is probably going to be my asshole the year, it's absolutely meritocracy. I yeah. Is the biggest hateful gaslighting misogynist racist, bulshit I've heard in a long time. It's really. It's, it's awful. And I, and I applaud us on. I don't often apply to us because we're, we're basically more ones. We're basically Beavis and Butthead of the issue world. But I want us, Matt for maybe being the only People, I am seeing on the Internet or anywhere. That is asking these people to prove it prove what the meritocracy effing means. Give us your methodology, give it because because it absolutely implies that you have a spreadsheet of the tangible qualities. That Define merit. Yeah, you don't, you don't, that's what you do. If you do, let's just see a publish it publish it. All right, headlines, winners predictions. Yeah, we're flying though. Good good flying. What are we up to heaven? Like I like yours better. So I'm gonna go mine first. Zuckerberg's knew I liked when they say Zuckerberg, because that's what that is, what made up platforms is. Yeah, that's that's an actual assessment of what meta platforms really is. Zuckerberg's, new metaverse at is so bad. That the people who created it must be secretly trying to embarrass him. I just like the way that sounds. I just like, all of that. Did you watch the ad? I did, it's terrible, it's weird. I don't understand it. I don't know why anyone would invest in meta platforms after seeing that. But okay, they've spent billions, I mean, literally billions of dollars on trillions soon. Yeah. When I watched that add like, I went and watched footage of the original World of Warcraft game that was released in 2004 that's 21 years ago. In case you're counting and the ad is worse in terms of like the graphics, the people, the interactions that it's so much worse than World of Warcraft was in 2004. It did it seem like an adult swim cartoon from like 1996? If anyone remembers Adult Swim the network, it's seemed like that. It seemed like a dumb animated. I don't know what it was. Yeah, go watch it. Go, Google it. Somebody. All right, I'm gonna blow your mind with this one. Yeah. All though, I know you, I know you. All right, it is Rebel. My mind. Here's Edline YouTube. Picked a new shade of red for its logo because the old red was too read that sounds about right? That sounds about it. The old color was hex code FF 1B 1B. It was pure red and they said it was super loud. My guess is they meant diverse? Um, it was a little say that though, right? They didn't say they didn't say that, but my guess is, and they wanted to make it a little less woke, a little less diverse shrill too. So, now they've got a new hex code E2 f3b, thank God. Yeah, I mean finally, right, finally. All right, who won your week? Well, mine's an easy one because if you if you've spent any time in Manhattan if you if you've ever worked there lived there visited there. Yeah. And you know what? It's like with all the cars I the absolute winner of this week is New York City pollution because Trump is rescinding what the people of New York City, want what they voted for, actually, what they what they what they need and and he is bringing, he's getting rid of the congestion toll and he's letting all the cars flood back in for no reason. No, the real winner here is investor relations teams. Oh, because BlackRock and Vanguard halted the meetings, then resumed the meetings, but they can't do or say anything. And they won't vote against anyone. If that, if the fingers winner isn't an investor relations team who's Now setting up a meeting with BlackRock knowing full, well that they can't say anything. Like, if I were the investor relations team, I want that I would show up and be like so Black Rock. What do you want us to do? Yeah, and let them be like we can't tell you and Don't take her. Yeah. Like if Black Rock says, what are your climate goals? Do you? Do you have any be like, what do you think they should be? And don't answer the question because BlackRock cannot give you any information, otherwise you can call the SEC and say they're being an activist. They told us what our climate goals should be. Yeah, you win. If you're in the investor relation teams at BlackRock or Vanguard reach out to us, I want to understand what your annual bonus structure. Is it like, is it like the fewer things? You accomplished? Like the the right? The, like the you got to keep quiet the most have, right? Like, is that how it works like that you shut up more. You didn't do anything. You were unprincipled that kind of a thing. Well, on principle that allow me to a jerk. I just feel like being a jerk, they avoided avoided avoided work like, oh yeah. Prediction. Well, it's your prediction. My first mine years. Looks like a novel. My is very simple, Robbie Starbucks. He is he is now known. Officially, I was looking at a proxy statement from dear, dear, and company and they, one of the proposals referred to him as a citizen journalist, which means that he's, which means he's not a qualified journalist is now what that means. A citizen journalist is, is that just a person who wrote internet user, thought, it's an internet user? Right? Okay. They should have written guy on internet. Yeah, sure. But write his name is Robbie Starbucks. He is probably a name, you've heard before he is the, the vocal unaccomplished figure, who is basically yelling at corporations to get rid of their Deo practices. No idea why other than he's a racist tool. But here's my prediction, Robbie Starbucks, sues Coca-Cola. Because the color of coke itself is too Dei. Oh, why does it have to be brown? What? It is discriminating against clear liquids? Clearly it's horrible. What he got. That's true. All right, I'm gonna play myself out while I do not so long. Okay, you ready? Apple prior to their upcoming meeting next week, Sue's inspiring investing in Wayne Francis, who put a shareholder proposal in against Apple. They copy pasted, the Cheryl to proposal that was submitted from Boyer research at Deer. And the company, the lawsuit is on the grounds that Wayne Franzen who this is in their filing, Wayne France and doesn't exist. I searched for him all over. I looked through and voter records political donation. Records real estate records. The only time his name pops up is at the Apple proposal on Google. I'm not joking. And they sue on the grounds that a religious first number one, that Wayne Francis had a real person. And number two, they show on the grounds that are religious investor cannot sue for financial materiality. Because Jesus said, children how hard is it to enter a kingdom of God? It is easier for a camel to go through the eye of a needle than for someone who is Rich to enter the kingdom of God. And he also said that's from Mark 10. On your guard against all kinds of greed. Life does not consist in abundance of possession. 12, 13 are anti shareholder value. That's it. I like that one. That's hazelnut Rallis. I'm your analyst Elementary. We're gonna line up some time with a Patricia. She's the head of hypatia capital, they do, the women's leadership ETF. That is just fabulous. I'm lining up some time with Anders, who's, who's at denominator, they do diversity data. We're gonna bring in the people, bring in the people. So look out for that in the coming weeks. Otherwise goodbye.