Transcript
Yeah. Oh, is that nearly enough singing on the show live? Well, it's obvious that we're alive. I guess. What does that mean? What live? What do we say that? Because we're actually starting out live know, we're streaming live there's and nobody does care. That's a different problem live from your ESG Dust Bunny collection. It's a business pants Friday, show here at September 27th, Lane Studios, featuring and let's hold man, Matt mascara. I don't like that. On today's weekly wrap up, we got a lot. Commerce Banks, new CEO is perched on a glass, Cliff overlooking a crystal waterfall. Wow. Cards Against Humanity. Is actually for Humanity but against Elon Musk, former Boeing CEO Del Dave, Calhoun is laughing on a beach while your white knuckling. A red eye to Tampa and Jamie Diamond says, oh I don't like that last one. But we do have an audio clip of Dave, Calhoun, right now. Yeah, that's him. With his friends on the beach. I mean he can afford to have a lot of friends on that, he's laughing so hard. He sounds like multiple people. I would like to look at. I would like to look at the history of Dave Calhoun's. Internet searching to see if he all so just flies Airbus. Now, do you think? I think you wouldn't you let's get to that later. What was the sponsor you sponsoring this Friday? Show is being sponsored by free flow analytics. The only platform measuring board power connections performance for free. Thank you, free flow Analytics. You ready for this story? The week, good list. All the stuff all the crap you ready? I'm always ready. Let's just do it. Oh, I got five stars. I know and I saw that you added a bunch in my copy for goodly. I did, I did, like, what is that about? I don't know. I was bored. You're on a call and I was just tinkering around. All right, come on. Ready. Yeah. Let's take forever asking myself. Caroline Ellison gets two years in jail for covering up. Sam bakeman fryed FTX fraud. She was the former CEO of elevator research. She deeply regrets FTX lies. And she must now forfeit 11 billion dollars cannot be right. She had that much to Forfeit and she thought she wasn't going to prison. That's the part. I don't get, it's not a bee, is it? That's it. Well, according to this, that cannot be. There has to be a misprint, it has to be a million dollars, right? Like, like how can she forfeit 11 billion dollars to Bloomberg according to Bloomberg, like a billion with the B. I mean look at Bloomberg, take it up with the mayor. The former mayor? I don't know, I don't even know what that means. Uh, battle think we care about that story so much. So let's move on. No, it's a nice like bit of closure. Yeah, I'm just I do know that giving that Diddy and SBF are in sharing a cell right? Yes. Right Brooklyn. Actually not actually I heard that. It's an actual seller. They're sharing the same stuff. I thought it was like seems very uncomfortable. Really, I would love to listen to that conversation happening. Oh, imagine that 14 hours straight of that, in Andy. I yeah I suicide watch. I mean, this is a nice bow on that fine. Elliot Elliot investment? What are the Elliot management Elite Management to call special? Southwest shareholder meeting. Whoa, for leadership overhaul. So they're, they're still at it. Okay? Few weeks ago. They they got, they got six directors to step down and including What's his name? You got the exactly former Kelly, the yeah, the former CEO to step down. So Southwest is trotted out a bunch of nonsense. Recently, a trying to get Ellie to shut up. One of the things that they just did, is that their promising to basically add new customer perks and you can get your own seats, I know by 2026, that's their Innovation. Thank you. It's gonna shut up. Finally did their way to assign seats on an airplane. The other thing they're trying to get Elliot to stop, is there firing a bunch of people? That's always great and They're basically. The bribing shareholders by announcing 2.5 billion dollar share buyback program. You know what? You know what? You know what? A good idea is when your company's underperform for a really long time, and you have no money and somebody stuck in 70 fires, half the board calling special needs to get rid of, you know what you do? You issue a 2 billion dollar buyback? I mean, how about this? How about, how about a half a billion dollar buyback and spend two billion dollars actually, like innovating something about that. One like the science seats. Where's the here's what? The current CEO Bob Jordan had to say. I hope you can tell that this is talking to investors an investor day. I can, I hope you can tell that the plan that we presented today was intentful. The plan was detailed. The plan was well, constructed for Elliott to call that plan. Rushed, and haphazard is a name. Wow. And a name. I think I hope you can tell it was. Well, I hope you can tell what well constructed. Where is the, where is the backup piece from Jefferson and felled saying, Bob Jordan is laser focused and I hope you could tell right good point blah blah blah. All right. The next story Germany's Commerce Bank a point Commerce Bank, appoints its first woman to be CEO and it's 154 year history. That so they're promoting CFO Bettina orloff. Orloff was actually passed over four years ago. When that when the then CEO, Martin Zielke was forced out in a shareholder Revolt, here's the problem. This is what she has to do with this is like the glass Cliff moment ever. Italian rival unicredit is rapidly building a major stake in in Commerce Bank. Trying to take it over there. You welcome to the job. Must opt to like 20%, I think it's that high. Look, congratulations for finally getting promotion. You four years ago? Um, yeah. And and then immediately being put out of a job, like permanently, they feel bad for her. Well, at what point do does Commerce Bank announced the, the Press briefing, in which she apologizes for everything. Commerce day has ever done. But yeah Beyond not even 154 years of Apollo. But like, 300 for the company, you know, like like the great great grandfather of the founder. World War Two, you could apologize for that. Next big story open AI CTO mirror murati, she's gone. Wow. Yeah you know also also resigning open AI Chief research officer, that sounds important and VP of research Barrett's off, all resigning. That seems important know. I like that, they might be resigning in protest because, yeah, here's why, because open AI, which we've known about for several months because the the previous board resigned for the exact same damn reason, is that open AI is desperate to become a four profit company? There it is it, and they want to give the reports are they want to give Sam Altman about seven percent of equity? I think he has none currently which is reportedly worth roughly a hundred and fifty billion dollars. That's that is the 50 billion is not the 7% that is total valuation. He will only get like a billion by himself. He's just a billion. Sure about that. I'm sure about that. Okay, I'm sure about that but but the interesting part about it is it's still if you know they announced the move that they're going to be a for-profit company but they it's not it didn't like IPO or anything that the likelihood that if it IPOs at any point, Sam Altman gets dual class. Shares is like 120% right? Isn't it? Isn't that the likelihood? I think that's the current odds. I mean that really the amount of turmoil. This company has been going through and going under just to please this guy. Just I really that's just seems like all it is, right? They just he has a Founder fetish. He wants to become like Zach and musk and he wants to cash out Mara. The hypocrisy it wafting over you at this point, right? Because she was one of the people who threatened to quit when they ousted Sam Altman. The first time she was like they made her the temporary CEO, remember. See? For like two days, two days. She was really upset that he got shit can in the first place and now she's out. She's quitting on the Eve. They they quit before. The company could announce anything and they quit synchronous with the announcement that the company was going to become a for-profit company. Yeah, they all are like announcing, like we had a great time at this company. We wish that the best like we're just onto other endeavors, but it seems just slightly coincidental that they're going to be a for-profit company. They wanted to take over the world. They wanted their abandoning for the benefit of humanity, which didn't ask them to exist for for the prophet of Sam Altman. Who is happy they exist and that's when they quit. I mean, you know, a year ago when it happened when we, well, VCS are lining up to support this governance shit show. I mean, it's all it's the same old, tune, same old tune. All right? And the fifth Story of the week just because we got it. A Terminator director. That's the movie Terminator. Terminator director, James Cameron is going to become a director joining the board of stability. AI? What? Now, I just want to remind everyone. I know the Terminator movies, pretty old at this point but here's what the Terminator movie is about it. Explores the potential dangers of AI dominant and Rebellion where robots become self-aware, reject, human authority, and determine that the human race needs to be destroyed. That's literally what Terminators about and now the student is joining the board of AI company. How about not only that map but an AI company whose executive chair is Sean Parker who basically founded a company Napster that helped you steal music. He was the he was the first president of Facebook and he's he's not even a cold Dropout. He's a pre-call Dropout. He never even bothered to go to college. Oh, so this again. This is the face because we're talking about Sam Altman College Dropout, you know? Zach College Dropout. This is the face of the boys who are as you said, who are building AI that Humanity has never asked for. So let me Let me. Just stand. Yeah. I've been working on since I was in college, you know, like as one of those jokes things like everybody does this. But I've been working on on and off a screenplay. About. A killer clowns that ride around in an ice cream truck. And serve ice cream is like a bee horror movie serve ice cream to kids. That turn them into zombies. Okay, ice cream. A, I I know just regular ice cream. I'm wondering if that qualifies me to be on the board of Haagen-Dazs. Does that take it does? Yeah, it does, right? Because that's what just happened. I mean, definitely the story about robots taking over and that landed him on the board of a company. Well, it is, it is AI essentially that I think, is being for the film industry for video production, Film Production. Oh, that makes it a little bit different, I guess. I guess. Is it still James? I mean, really, like, you, you're replacing Humanity. Replacing jobs with your crappy AI? I don't know. That's a little depressing. I mean, he replaced the Titanic with Kate Winslet. So I don't know. We don't know what we're talking about. Those are five stories. All right, my five stories are Carolyn Ellison, Goes to Jail, Elliot and calls us. Southwest share. Special meeting Commerce Banks. First glass, glass Cliff opened. God. This is like a triple glass. Yeah, on a waterfall on it did sound in your initial opening. It did sound actually very pretty. Yeah opening. Yeah, nice waterfalls in Germany, open AI CTO murati and others all simultaneously, quit and Terminator, director, James Cameron joins and AI board of directors. This, I'm a little bit split on. Well, two of these stories. Unfortunately, an art companies, we cover. at freeway analytics, they're not, you know that FTX was never publicly traded, right? Why wouldn't that one anyway? Um and openai still unfortunately is not under our purview, I wish it was in our database but it's not I'll give it time but I am torn not that it will matter. On the open AI one because it is like the like the amount of fucking nonsense about how the board of open AI. When they ousted Sam Altman was hysterical and terrible. This is a bad governance and like what are they doing when they were literally doing their jobs? Like there was two women on the board who left, who ended up getting kicked out those. The only people who got kicked off the board and they were doing their jobs, Flash Forward, one year, just one year and everybody's quitting because they can't figure out how this company is turned into a profit seeking found company like crazy. Like and I still think we're the only ones who are upset. I just can't get Over the fact that like, zero people agreed with us when it came out. Then that they were just, they were, that's good governance. I was thinking, Sam Altman was good. Governance, is this your pick? And now I'm I have to go with Commerce Bank because I have to go with. I have to go to Commerce Bank because If I enjoyed Qantas so much. And their glass. Cliffy glass cliff. When there's a hostile takeover happening. giving the job to the woman who you passed over four years ago, it doesn't I mean like what kind of glass is that is that is that that's like the thinnest class on Earth, isn't it? Yes, this is the this is probably sound exhausted. Now, the most difficult situation I can think of is no. Again, Not only was the former CEO pushed out four years ago but the current one is also being pushed up. I mean just like well the free flow analytics data which thanks to them for sponsoring this will likely suggests that she has effectively 2% influence. Given that 20% of the company is owned by somebody else, right? Like so like you got a job at a time when you could have no influence and you basically you're going to lose your job. Yeah. Well I don't think I don't think I don't recall if this is a German practice or not but but the former CEO actually Mannford North It's not currently on the Commerce Bank boards. I don't even know if she'll be on the board, who knows? Oh, good point, which means she'll have even less influence even worse. That's what I'm going with. And I know, right. Let's go on to the next thing. What is the next thing? Um, that's a good list. Oh, goodness, do I have to read yours? I can do mine. All right. I had three. You can at least pick number. You can at least pick one on my can do the Apple Store. I had three and then Damien added two crap ones at the end. Number one, Vanguard find for greenwashing as Australia targets, ESG claims that is I want to say that again, I want to make sure you understood Vanguard. Find didn't propose a fine. It wasn't like some investigation, wasn't like a probe. Vanguard details details of the fine. Let's just say it wasn't that much but they were fine. That's what matters it was. It was about nine million dollars so not nothing but for Vanguard that's kind of a parking ticket but they were fine in Australia, you know, Australia's big on this recently. Um, well you're supposed to be bigger and it means that like it's taking off. It's a global phenomenon to find for greenwashing. So that's number one. That's it. That's it. Just the headline. Well what I like too about this is a top or the fine. They've been ordered to publish a notice about the misconduct on his website for 12 months. Yeah, I like that. And they and they apologize. Yeah, they didn't specify which Website. Have you ever tried to like navigate? That's like, yeah, you're on page to be vanguard.etf. Slash index slash aggregate Bond divided by, it's not gonna be their home page. Let's just say that. All right. Number two, Boeing confirms production of 737s has halted. Now, what did we? So we had to think we should thank the Striking workers for this, right? So we finally, I got stopped the production of these horrible. I mean Beast, right? I'm not supposed to be excited. That like a company that contributes. Like, three percent of usgp no longer can make its core product. I'm not supposed to be excited about that. But they are flying death traps. So this is it's nice. It's a nice change, you know, to not have them get built as fast, I guess. Yeah, there was a, there was a story in the New York Times. The headline is safety board, that sounds important safety board, right? That doesn't that sound does sound like, there's something you want safety board warns of Rudder control defect in some Boeing planes. This is a story. Just came out last night. Yeah. So your front running my asshole is to the week but okay, um, but yes, so effectively by them halting this you've all so solved that problem but again, the reason why they've heard of this is that the workers are going to strike. I know that Boeing has just come up with its quote-unquote best and final offer which includes a 30% raise but the workers are not buying it I guess. Best and final there's gonna be I like when a company is like I'm not doing any more and she call it not best for the middle and threatening. That's that would be a Less enticing way to put it and then my last one for good list. Yeah, is something you talked about at the top Cards Against Humanity, lawsuit, against Elon. Musk is a brilliant stunt, that makes a serious point. So we talked about this on Tuesdays show when we talk about this maybe even last week, I don't even remember. Now Cards Against Humanity, is suing Elon Musk because they bought a piece of land. When Trump was elected, they bought a piece of land in Texas, a long, which the plan was to build the wall, the border wall with Mexico. The ridiculous expensive useless border wall They bought a piece of land to block the wall. I mean the piece land they bought. They bought it using effectively donations from their fans who buy the game like 10 dollar donations and they bought this piece of land and they did it as a publicity stunt and it was funny and great and they and then they kept it. And then Elon Musk set up SpaceX next to it and started dumping crap on their land. Of course, like, actual like trash. So, From that I. Yeah, I can't. It's kind of hard to get over that fact. Like that still happens. That really well SpaceX apparently went to Cards Against Humanity as they have done with local residents in the area and offered them, lowball offers to buy the land so that they could use it for things like trash, they wouldn't even they wouldn't even make an offer for the market value of the land know, and they did not make the offer before they dumped the trash, they made, they offer after they complained, that you're dumping trash on my land, that's what happened, I guess. And I guess all makes sense that I saw a headline this morning. That's that says that at the Tesla Factory in Germany, the, the managers are now knocking on workers doors, when they're calling out sick, they going to their home. Oh, that's to see if they're actually sick. Like this is the, this is the cold environment that Elon creates a nice culture, what a nice quiet place to work and enjoy a middle class life, but so musk is dumping Crap on their land. And so they sued him and they sued him both as a publicity stunt. And to make the point that his companies, he just operates, like he should not have a single rule, everyone's in the way of him, achieving his Messianic thing of going to Mars in AI. I don't know in America and everyone's just an obstacle to to his achievement. I mean, while the rest of us are humans, like, you're not that different like you. This is, um, it's unbelievable. So those are my three Here's what you added. Yeah. Number four, Apple tax. Boom to go toward housing, energy. Irish Premier says. So this is the 14th, though. It's 14 billion dollars. 14 billion euros. The equivalent of 14% of government spending. Wow 14%. That's a lot credible. That's a lot of percent. That's how much Apple owes him back taxes. It's 2700 Euros per man, woman and child in the country, and they're going to spend it effectively on housing and energy, although I wish it was like education and and and and other things too. But Um, so those are your four. That's a you took away the fifth one. Yeah, nobody it was signing to get away. um, Yeah, California suing Exxon for being a public nuisance. Oh really. I like that. Let me know that one back. No, it's fine. We got too many. All right. What actually makes me feel good here. I mean, you know, I thought actually, I I thought the catnip here would be a plane company that no longer makes planes is not only funny but you like it's like flying about that situation. I'm concerned because I don't know what the result of this strike is going to be. I mean if you're a Boeing worker, what I mean, why would you want to continue the shit show anyway except for the fact that there's only one competitor Airbus and that's nowhere near Seattle? I just feel bad for these know, you know what if I was Pratt and Whitney right now or or Lockheed Martin, I would be calling everyone of those engineering engineer and being like you've got a job here like we will you know, will make room for you and they you could get there's towns and people who work for Boeing when it was like a brand that people were like, this is the top in the world. This is the top playmaker. um, honestly, if I were voting, the The 14 billion dollars, being allocated all though? Yeah. It was that actually paid. That wasn't paid, right? That was just assess and it's gonna be fought litigated for the next 10 know. I mean, this is there, they're spending bill is happening right now. Their budget announcement, the Irish Prime Minister Simon Harris is Currently announcing how they're going to spend this money. So it's this is not a maybe this is not, I don't think this is being appealed or anything. This money is coming. I mean, they're already. They're allocating in the budget. So I'm going to yeah it's gonna be that one. I'm gonna vote for that one. I mean they so they ordered it looks like the EU commission ordered Um, that the payment happened, but did it actually happen? Well, again, there they're allocating the money in the budget, as we speak. What I really love about this is that Ireland didn't even really want this money, because they're the ones who set up these insipid tax breaks in the first place. It's the EU that stepped in. That's like, what are you doing? You know, we can't can't be giving these trillion dollar companies, stupid text breaks. I mean, there's no one in Ireland's, gonna complain when they actually have to get. All right, let's move on. That's the story. That's the good. All right. Good. Oh wait, no, let's do exhausting us, so we go back and forth. Okay, I'll skip ahead. Ah, you know you've heard all this before. So I'll go quickly. Here's the first one is most corporate Net Zero targets. Don't go nearly far enough according to a new analysis from Net, Zero tracker. Oh, but we know this already, I guess they did. They did however, praise to corporations for good practices, Google in Volvo about that. I guess, you know, I I just I wish they would include in every one of these analyzes the who set The Net Zero targets, right? Like it's great board members. I mean it's great to say like corporate Net Zero targets. Don't go far enough but someone has to set the target approve. It it's almost always a board and management level does. Well, prove it and they never named like, Gus from three years ago, who was on the audit committee who voted. Yeah. Whatever the fuck you want to do on that Target, they know name those people and then track the fact that These are pointless targets. They don't achieve anything, they don't have to follow up on anything. Most of the people are dead, by the time, they're supposed to say that's gonna say, is that we're almost entering an age of corporate governance where it has to be, like a senate confirmation hearing for a Supreme Court Justice, right? Where we all know they often lie to us, like like Brett Kavanaugh, where you ask board directors, are you gonna? Are you gonna flip-flop on the Dei commitment? Yeah. You gonna you gonna carry through your your Net Zero Target and if you don't, what is it? What's the system you're going to set up so that the next director's are gonna, you know, we it's almost like we have to do this but of course we don't get access to these people because they're protected class of people but investors like Vanguard don't vote, no against anyone. So that's your problem, the investor no access. There's no access investors have access. They can call up these boards and they can ask these questions. That's what the engine process is, but they just don't. And according to the Vanguard dat, Only 23% of them actually do pro ESG voting, right? The rest of it. Just they just hand back to Vanguard to say, you know, with management. I mean it's Stanley Black & Decker just announced today that they're you turning on their Dei commitments. There should literally be outraged from investors that where they're saying. If you set shit targets for Net Zero, if you flip flop on a Dei commitment, you three years ago is Roe versus Wade. How much post to believe anything and commitment you've made. Like you don't keep, you don't keep up your end of the bargain just voluntary. Does that make it worse? Because you didn't have to do that in the first place. You did it because you thought it would look good. And then you roll back saying like we never really cared about it. Well what do you care about? Do you care about? I will say this, unlike the Supreme Court where we really you know we Brett Kavanaugh has a indefinite term limits, right? There's no there's no term limit for Brett. Kavanaugh you can vote out Directors. I mean, you can actually make a stand and make a state but directors don't act like that because on average, they get 96%, I know which means in practice directors act, like they have a lifetime appointment. They're acting like Brett. Kavanaugh you need to change that. Think that, if you if you got a job and you had it for life, no matter what you did said, if you lied to, everyone's faces, if you change your mind, whatever. If you got a job and you were never going to get fired, what would you do differently? That's what every one of the 96 in active directors, are thinking to themselves, like, oh, I, I can do whatever I want here. Like, I'm just gonna not only that, just eat bagels and drink OJ and do nothing, or I could be like, yeah, whatever d. I today, I hate black people tomorrow. It's okay. Only that, but they won't be called out either. They will they they will be referred to as an entity. They will be called Deere company. They won't be called out by name, who are the directors? Actually are the chair is who was Voting against these initiatives? They'll just be lumped in as an entity and it was like who whose Deere and Company? I don't know. I mean, what? Who's making these decisions? Who knows? So anyway, the exhausting part about not even the Net Zero targets. Don't go far, we have the whole thing. All right, come on. Next one Mark Zuckerberg shirt says all Zuck or all nothing in Latin but but why does he need this shirt? We already know this. We've been reporting on this forever. We know it's all Zuck. We get it. Well. I like that. You juxtapose this with the next Headline too. And yeah, well, the next headline, I I had to add to this story was the meta's information. Misinformation problem has local election, officials struggling to get out the truth. So this is the consequence. These are the direct consequences of having a social media Empire controlled by one single College. Dropout, one, dude, I just like does his shirt, does he consequences to print a shirt that says All misinformation or all nothing. Right? Like I mean, do you realize that these boys, these, these these these boys, whether they're called drop arts or not, have basically ushered us into an error. According to all the polling that that we as a population, don't know what to trust anymore. We don't know what's real essentially and it's you're right to call them little boys. They're little boys, that's what they're The next exhausting us. I always have one Elon Musk story but I don't even intentionally do it. I don't intentionally do it, but I had, I had to do this one because I because there's actually data backing up this one, Elon Musk criticizes censorship, you know? He's a free-speech absolutist. Matt, you know, that I heard that Free Speech absolutist. Absolutely, he calls himself just so we're clear. Can you define what makes someone absolute like absolute is bye now. Absolutely, I think we know what that means. Right. We're not College dropouts. We understand. I went to college. I know that. Yeah. So the headline is Elon Musk criticizes censorship but his ex, you know, the new Twitter X Grant's more government requests than Twitter did. So, this is a quote from The Washington Post which has been reviewing. X's X has a new report out the website acted on 71% of the legal. Requests, it received to remove content during the first half of 2024 that's up from 20% in 2021, that's an exact Dorsey error in 30% in Prior years. So this is one of his big stinks was getting rid of Jack Dorsey and the current regime because they were censoring everyone, but he's censoring more more than double almost. Triple not only is he censoring more, but the report does not say whose making the incoming requests to censor, right? Like a lot of governments, which governments, right? Because a lot of the discussion is he is censoring for like far, right? You know, totalitarian governments and he will not censor when like European or US Government. Say that is speech. That is not allowed. That's hate speech. He's basically ignoring a lot of that. So it's worse. When you even know where it's coming from is is it but still 9 Piece as a free speech absolutist? I don't even know what we're playing here. I don't know what I don't know. Maybe I don't understand the definition of absolute and finally and I I think I'm trumping your headline east of the week. Am I know I changed it because I saw this So you know what I'm exhausted, I'm just exhausted of. There's a there's two new trends and I think you made a joke about this on one of our recent shows, there's two new trends in in business news. Writing one is a story that starts off with Jamie dimon. Says yes, and the other is now. Sam Altman says Oh, I like that one way less. So I'm gonna go quickly, I'm gonna go quickly here just in the last week just in the last week. Jamie dimon says American schools should teach nutrition and financial literacy. Sure Dave. Jamie dimon says he likes Elon musk's idea to start a department of government efficiency. Sam Altman. Says, if you're afraid of bots, taking your job, you should get good with AI. Sam Altman says doing psychedelics during a weekend retreat in Mexico, changes life and Sam Altman says AI super. Intelligent could be just a few thousand days away thousand. What a weird way I do appreciate that. He's coined like a new like a new way of grouping a new way of measuring time like kill a year. Yeah like he's he's doing something there. That's interesting. Anyway that's it. I I do just love ABC says as a as a headline Dynamic why do we care what you say like why should we and I don't know, I don't know why it's reported on. So frequently Jamie dimon says Jamie Diamond says Diamond. Says. All right. So you know my four options here are Net Zero targets. Don't go far enough, Zuckerberg's All or Nothing, All Zucker. All nothing shirt. Elon musk's absolutism. And Jamie dimon says I can't. I'm not voting for Elon Musk. Like he's obviously you don't have to. It's you don't have stupid. I'm not exhausted yet by. Jamie dimon says I actually find it way too amusing. Yeah that it's so often. Can we could just have a whole section of this show? It's a week. Every week we review the week on Fridays, we could have one section called x y. Z says and it can be Jamie Diamond. Sam Altman, Elon Musk. And you got like five or six personalities, that everything they say is written down. Do you think the first subject in the financial literacy class in American schools? Will be wealth inequality. Starting with Jamie dimes Jamie dimon says yeah. Yeah, Jamie Damon diamonds. Wealth inequality pay ratio says. So I think that one's too funny which leads me with Zuckerberg shirt which is not so much exhausting as such so douche. It's so fucking like lame and like weird attention but and like even that he wrote it in Latin like, Really you wrote it in Latin? Is there anything? Like she like like what you're a fraternity? You're your own fraternity. Like what are those two aren't the bylaws around dual class Shares? Are they basically Latin too? I mean what is that? But think about like what do you referencing by writing something in Latin? Like the thing that you're referencing is Roman's the Roman period, right? They're smarter than everybody else. You I some maybe but to me it just feels very To Caesar like I know but that's the point, right? And I mean is he not an emperor of our of our our age of misinformation? Is it like all Caesar or all nothing? Is that like something Caesar wrote on a wall? Once I don't actually I don't, I don't, ya know. It's it was it's either or nothing. That's that's that was a play that that was the plans. Zuckerberg shirt. Great. What is that? I don't imagine. I mean we we've complaining about the open AI board, we joked about the 23andMe board member because they bravely left in protest because the share price was so low. But, you know, where is The Meta board? Mostly I'm just I, I'm mostly, I'm exhausted by the fact that I didn't put together that it was like a seizure quote faster than, like right now. You're exhausted yourself for being stupid, so that one, I can't even vote for. Come on, give me. I'm voting for our corporate Net Zero targets because that to me is a who question? It's not a entity. It's not, they don't Target. It's going well enough. Yes, that's the point of this company. It's made a Target that was dumb and no one always a who questioned. Oh question, that's where we're constantly digging at this company. That's what the data at free phone flow, analytics.com is digging at. That's what these incredible data drops that free float, LLC or digging at. Is that it is, always always do. That's what I'm voting. Which means fast move on. Get out of this. Let's do some assholes. I got a new construct for you this week. Finally, I'm going to start each of these with a riddle. I like riddles. I don't. All right, go ahead. Here's a riddle. Yeah, if a Dave Calhoun falls in a forest, does it make 47 million as an exit bonus? I think, you mean, if a Dave Cole call Huong falls asleep on a beach lounger, here's yesterday's. Headline Boeing. Expects, disruption, two to three weeks, beyond the end of the strikes as Ryanair. So this is Ryanair commenting on how long Boeing will strike might last. And then today, you already popped the headline safety board warns of Rudder control defect in some Boeing planes. Here's the problem. Here's a problem. Again, something that we complain about constantly is that the compensation committees at these companies are made up of fellow CEOs, typically and all they, all they want to do is enriched their fellow CEOs, because that means that their contract will be, you know, Pleasant wherever they are. That's it, that's it. That's the, again, it's a who it's a who problem, you know, I'm looking at the, we're covering Procter and Gamble. The next proxy countdown last year 30% of shareholders voted against say on pay, right? Sure. And the reason decided in the proxy that they were angry about is that the compensation committee out of nowhere. Decided to give the CEO like a 15 million dollar retention bonus. Yeah, bonus. And I don't know where they doubled the equity handouts to all named executive officers just because, and their reaction to this was and it's in print, it's in writing in their 2024 proxy, their reaction to this is we promise, we won't do it again. Oh, there it is. Rescinds the equity grants they just said we won't do this again. So the good news is that this year? Procter and Gamble shareholders reacted to that. I should say last year by by saying, no to to 55% said, no to the pay practice's. So it's completely rejected. That's good. So good thing. It's advisory and no one has to pay attention to it. But to make the give the Boeing a Who The Boeing Safety Committee was was started in 2019. if after the max 8 plane crashes, On the Safety Committee of the board were the following two gentle people. Number one, Ed giambastiani, who was a director since 2009. He's one of the directors that green lit, the max 8 plane in the first place so you know how you can guarantee safety. You put a guy on the Safety Committee who was cool cutting corners on the planes that fell out of the sky to make sure that they're safe. That doesn't make any sense. And the second person they put on was Larry Kellner. Who was the directors in 2011, who was chair of the board and best friends with Dave Calhoun during the entire run of the last, you know, decade and a half, those are yours. So you're assholes here are Larry Kellner, Ed GM, bostini who's gone now? And Dave Calhoun, you know, current Boeing management is, you know, basically going to be scapegoating the workers. Yeah, because they want 30 dollars a 30% increase in to their, their more than 30% increase. All right, here's your second riddle. Gerard guillot, I'm going to book. You know gimo, I'm gonna put you these names. Gerard emo Claude guimo, Michelle guimo Christian guimo, have 68% influence and enter a bar. With, with three employee reps in HR exec to finance exacts in a software advisor and a professor who have 12% influence, which one of them holds, you've gimo the CEO of a slumping software company accountable for something. That's the riddle. These are the brothers, right? These are the French brothers who control Ubisoft. Those are the French brothers who control Ubisoft Ubisoft shares the headline ubisoft's board of directors will investigate and review the company to find a way out of, its current slump. The directors are the brothers of the CEO. Yeah, I read about this is a this is a case this is depressed me this early this morning. I read about this. So one of the things that's going on, supposedly I don't know if this is like there's there's scapegoating Dei like Boeing Management's, gonna scapegoat the workers, but supposedly, there's a lot of backlash against one of its current video games, called Star Wars, or something, or Outlaws. Because, and, this Essence Creed, the new one. Because people are supposedly angry that there's some woke ideas in there, which means that one of the main protagonists is a woman but I don't buy, I mean, the game probably sucks is the problem. So they're blaming that they're all. So blaming that the, like, they're getting a lot of negative feedback about their upcoming Assassins Creed title, because it's set in feudal, Japan and features a black samurai now, but why would a video game player care? I mean, the game is good. The gameplay is great. Who cares? It turns out that the black samurai trolls. So black samurai Was actually based on a real black samurai but that that Nuance is lost. It's just woke and they are scapegoating Dei a little bit. Yeah go ahead and but I did pull a picture of the entire board just so you can see like the the picture of wokeness. This is a French for. This is a Canadian French board French. They're almost all French. There is one woman who is part two Nation. She's French to neshan The rest of the board is all white people, it is an entirely white board. That's the woke board. That's the wokeness. Well, I guess the wellness don't forget, can also refer to women, I suppose. But when, because it is a band of five brothers On the board and they're everybody on the board for the most part is white. Well, I there they will tell you that they're caving to woke Culture by making a protagonist or a woman. That's the problem. They came to what culture and meanwhile people it's a video game. None of the characters were actually real It doesn't really matter. I just love that. They announced that the board of directors are going to investigate the company. Like, the brothers are all going to sit down at spaghetti tomorrow night. And be like, this isn't this is a failure of an investment, the best, your class here. I mean and finally, your final answer here, here's the riddle. Who is the bigger quitter? The quitter who quits to save a narcissistic CEO, who doesn't have total power? Or the quitter who quits because the narcissist CEO has total power and will wreck Humanity. That's the trouble. That's, that's, that is your riddle. Who are you talking? The headline is open AI execs Mass quit as company, removes control, from non-profit board, and hands it to Sam Altman. Yeah, I don't I honestly to understand those execs like you're fucking assholes like you were up in arms a year ago when he got ousted. This is the inevitable goal. When you put Larry Summers on your board, you think the goal is good governance and like non-profit, you know, it does make you wonder, right? So the original board which we championed at openai, they didn't just resign, they actually fired the problem, right? They fired, you know, they fire. Where is the 23andMe board? Why didn't they just fire the CEO? Why did they just resign? Like what does? It's a dual class company? wait, but the board still has Some power right? Could have they could have put in effort to fire the CEO but they didn't have voting control so it wouldn't have made a difference. Like, what I'm trying to say is that the only real Champion here still still is the original board at open are, right? And the asshole. Now is the executive who at the time, the reporting was that the entire staff of open AI. Threatened to walk out. If they didn't reinstate, Sam Altman. Is this like quitting? The Trump Administration on January 7th like that your big statement? Like finally, you did it, right? Like finally, you notice that this guy is a maniac, this was all inevitable and you guys are the ones who Effectively by threatening to walk out and make it like and saying like you want Sam Altman back and knowing that you want to cash out too, you've got equity in this company and you're all self-interested. Now, you're walking out. Now, it's a mask quit because it's gonna be a for-profit. Rex Humanity, what goals, but portion, what we've learned in big data and Tech is that especially for publicly traded companies, is it? The product doesn't have to Nestle, even be that good. It just has to it has to sell, right? And it has to have proper VC backing so that you can scale and go crazy. So that, I mean, I would like to think that that mirror murty in these Executives, resigning might might threaten the future of the company, but it's not going to do that because money is pouring you. So as we speak, So, okay as holy is so those are your three options, the Boeing Safety Committee. And by French Brothers, the five, French brothers, that Ubisoft and the execs that are mass quitting at open AI. You guys are fucking assholes. Oh this is a tough one. Uh, I mean it really feel like comes down to Ubisoft the brothers or open AI. I'm pretty sure Boeing is like Evergreen. At this point, I do hate the Dave Calhoun's money wasn't called back. I mean there was a million. The only way you can claw back money. Now is if like, you have, you know, you have in a relationship with another employee and you didn't report it. Like, that's the right like and that's called that's a you fired for misconduct or something. I mean, it is crazy. That Alan Shaw got held more accountable for having an affair with an employee that was consensual, you know, regardless of the power, surely knew about the boardwalk about you versus Dave, Calhoun. Spent 10 years cutting corners and crashing planes and and he walked away with an extra 47 million. Yeah. But that's that's more than I'll call Boeing old news for now and as much as I would love. To vote for the French Brothers. It's just it's too funny. It's too funny to me. Just looking at their faces, it is just thinking about people complaining about a female protagonist and a video game, it's just so it's silly. So funny to you read the French Brothers, read their titles. Uh, you want me to read them right now? Yeah, chair and CEO. Deputy CEO, Deputy CEO. Deputy CEO. Deputy CEO. I like that. It's what their Deputy CEO in too. Is Deputy CEO in charge of operations, Deputy CEO in charge of development, strategy, and finance. Deputy CEO in charge of publishing, Deputy CEO in charge of administration. They couldn't even like the brothers couldn't even. They were, like, I want to be a CEO. Well, if you're a CEO, I should be a CEO. I mean, the whole thing's ridiculous. I'm still going to vote for the opening AI. That's the correct choice because there's some I don't think video games are well, you know, I guess I guess Tipper Gore might disagree, but I don't think that's right. I don't think the video games are gonna ruin Humanity, like open AI is trying to do so vote for that. All right, Headline News. Shouldn't he shows? Take 20 minutes. So we're the true blowhards. You're the one. You had five stories to everything. You've made the other one longer. Here's my headline of the week. Ford wants to protect drivers from becoming drug traffickers by accident. So Matt wait, Ford is actually developing a new patent for a cargo detection device that would help drivers not become blind mules for drugs. So I didn't know this is where they're spending. So this is where they're spending money while they're also rescinding their Dei policies. But this is what's important coming up with a new technology that prevents people from having drugs actually for this is what this is what's important to you look I mean speaking of a family-led company shit show, I'm sorry but this is embarrassing to me. This is what's important to you. I'm gonna text your life partner and tell her to see if you poop a bag because you apparently Your priorities are misplaced patent for cargo detection device that would help drivers not become blind mules for. I didn't even know that was a thing. Seriously, I'm honest. I didn't know. That was a thing, right? Here's my headline. Yeah, activist investor Elliot wants Southwest Airlines to ditch polo shirts, and shorts, and move to make it more upmarket. That's the winner. I hate polo shirts and I hate and, yes, I wear shorts at home, but I don't want to when I'm on a plane. I don't want to see men in a bunch of shorts. Well, here, I want to see short. Here's the quote from the article Elliot is rumored. It's only a rumor, but it's rumored to be pushing to make sells West Uniform, more premium by eliminating, the laid-back, polo shirts, and shorts flight attendants, and Airport, staff are currently allowed to wear. All right, let's move on. All right, let's yeah, we'll play us into who won the week. And Productions. I have a I was confused about this, my winner originally, I put was Sam Altman because of course, but then I'm thinking it could it be mirror Marathi for leaving. But I think you've convinced me that she's more of a, of an a-hole for jumping, ship, a little too late. So I'm gonna my winner, Sam Altman, of course, of course. Yeah, I wouldn't disagree with you, but my winner is actually Robbie Starbucks. Remind people at home, who Robbie Starbucks is Robbie Starbucks, is the music video maker, which is a throwback successful version of us who goes on Twitter, and trolls companies about their Dei policies. It's basically listening anymore and they listened and this had line Black and Decker. Reverses, Dei policies Black and Decker is now the sixth or seventh company to in like you turn immediately as soon as Robby Starbucks, like says something on Twitter about them, they deleted. Huge portions of Dei policies and things they were doing on their website by there. You mean the board? I mean, the board and the management team and and it's actually disgraceful that they did it and Robbie Starbucks. Congrats to you buddy because we haven't changed shit, but Robbie Starbucks doing it. Yeah, we're kind of arguing from the opposite side to the aisle and he's the successful version of us. Unfortunately. But but how about the, how about the Black & Decker board and management taking the call of a? Basically, he's basically an incel conspiracy theorist. You look at his Twitter feed, it is just a bunch of nauseating, racist, misogynistic conspiracy, theories. That's all he is. And this is a publicly traded company. Taking this guy seriously. It's it's crazy. Making if I told you before. like, if I told you before he reached out, A guy effectively, wearing a Dei tin foil hat is going to say that you are woke and should stop doing what you're doing. What would you listen to them? Like a guy on the internet thinks you're a jerk? Do you wouldn't listen to that? You'd be like what the fuck, do they know. But somehow this keeps working that's worse than a guy on the internet. He's a he's a he's a crazy. All right, what is your prediction for the week? Openai changes to for profit. Of course, course, Sam Altman gets. I'm gonna say roughly 9% of equity. I'm gonna say a little under 10%. Okay, they're gonna make it look like, you know, it's not that much and then he, but Sam Altman says, alright, we're back to the same Altman, says Jamie. Dimon says, he says I really had very little to do with this. I like that. He says it though. You know he's gonna defer his way out of all this and be like, you know, it's it wasn't all me, it was, you know, it was the board, it was the VCS, it was, you know, I didn't ask for this. I but he workers love me, but he says it. All right, here's mine. I read the James Cameron joins Board of AI company. And realized that we're so serious around here about Ford skills that I actually predict. And actor wore a Donald Duck costume at Disney. We'll be chosen by Carl Icahn to join the board Chick-fil-A to keep the board, a prize of the plate of poultry. I think there's just if we're just gonna throw on someone who's riding screenplays and like, you know, like the rock just got a, you know, a board seated TKO. Like why not? Why not just give me like, I know indeed. Yeah, you you work at Ben and Jerry's you should be on the, you know, the board of Uh, you know, fracture and gamble. Why not? That's all we got. It was a it was too much tired much. That's hazelnut Ross. I'm your animal Soul. Matt miscarriage. We are free float. We will be back next week. We're actually doing our super late proxy countdown because Procter & Gamble. We're doing Procter and Gamble. It will drop for Monday. So, get that. We also, we getting great success for shower privacy. We haven't heard Mike Levin and lifting yet. Go get them. They like, people like hearing. Them talk about like legal constructs of power around, you know, shareholder. Right stuff. I don't know what that is, but it's fabulous. Fabulous until next week. Good, bye.