Transcript
Hello hello, hello. Hello yeah. Whoa, yeah. Yeah. Live from your ESG Compost bin. I've used that joke so many times, I've done that one. It's a business pants Friday show here at September 13th. Lane Studios, new Friday, the 13th featuring only one of your favorite Matt McCarty? Yeah. Analyst whole mattress gardi. Whoa please give me my honorific on today's weekly wrap-up. Ongoing drama at Boeing. AI Darth Vader. Oh more AI strawberry, flavored Ai and Adam Neumann continues to fail. Yeah, which means that people continue to back him financially, that's what it really means. It always is the same story. Hooray, Today's Show is brought to you by free flow analytics.com. Everything you ever wanted to know about who runs public companies all for free. That's a very short version of that copy. I don't like that one's too short to brief, add to it. You keep complaining about it but you don't do anything. Let's get right to us. There are Friday show or we go. We cover the week, we look at the story of the week. We look at the good list story of the week. As holy is exhausting us all the favorites. Well, before we get into it, I want to tell you, I didn't tell you this, I am I'm playing for the first time in 20 years and open mic night tonight. okay, so for those of you who live within 10 miles of Matt's home, which we're not going to close, Show up at an undisclosed I'm guessing coffee shop. If you live in Central Connecticut, you can go to the coffee. It's, it's like coffee. Stop in Simsbury. It'll be two like withering 40 plus year old dads. Okay? And a bunch of high school students. It's gonna be great. It's gonna be great. Come check it out. And what do you do? Open Mic, you stand up comedy. Know it's music. I'm literally playing songs that I wrote 25 years ago, that's that's it's gonna be the most pathetic sight. If you want though if you want a touch of pathetic with you know coming coming and see it. Start your week Friday, the 13th. That's you can end your week. Let's do the story. Yeah, come on. I actually have five stories this weekend, I don't care. That's one more than I usually do, but I'm gonna keep them pretty quick Norfolk. Southern CEO Alan Shah fired for ethics violations, secret relationship. Oh, at Norfolk Southern. Wow. The crowd is so shocked by that fired for cause consensual relationship with the company's Chief legal officer nabanita. The new CEO. Is Mark George, the current CFO. So, here's the amazing part about this story. And Cora the activist investor who in the spring went after Norfolk Southern for effectively being terrible for years and years and years. apparently this the news reporting on this and I don't know how true this is, but if it is true, Is they got wind of this relationship. How they got wind of the relationship is either through the board because the board was doing an investigation or new or through employees and therefore, the board should have known. So now you're in a situation where four months. Yeah, people have known that this is going on, not to mention that he was doing this under Under the Umbrella of a very public proxy contest, a very public activist pressure, so, so it's probably the very wrong time to be lying to your board, and that would be, that would be the wrong time to do that. Not to mention, I do, I don't know, like, you know, infidelity whatever. I don't know how to say this, except it is a little bit cute that it kind of burdened during a train wreck and actual train wreck Corner reports. They be because they had to be together. So often in East Palestine, Ohio to deal with the the after effects of the train wreck. They got to know each other a little bit better. I, I kind of love that. It's so it's like it's like the beginning of a Disney story except you're right. And a lot of other reports are indicating that they made it very obvious because they would, you know, like they would they would not share, they would not stay in the same hotel as everybody else. They would go off to their own separate meals. They did all these things that would suggest that at least one member of the board and knew what was going on. I mean, someone must have heard or tattled or something. I'm just I'm just waiting for the for Disney to option this as a story. At some point. That's one. I won't be watching next story that we both Boeing always in the news, Boeing our favorite company bought, This one makes my head spin on Tuesday, Matt on our good game show. We reported that. Basically, they had that they had created a contract with workers that was the businesses was calling a huge victory for the new CEO Kelly Arbor. Well, you know, calling it an amazing contract. Now, as of Friday morning, the headline is that Boeing factory workers strike for first time since 2008 after overwhelmingly rejecting contract. Now, I don't think that accurate that had lens actually accurate. So what they've done is they've voted 95% of the workers voted to reject the contract, which include the 25% pay rise. And 96% voted to to authorize a strike but I don't think it's gone on strike yet. They're just straight it. I think it's a negotiation tactic a good one, which is that, hey, we're, you know, if you don't go back to the drawing table, we're gonna go on strike. I just like that, like the business news reported that, I was a major victory that that they ortberg handed the contract to them. And then the union read the contract and said, 75%. That's a DirecTV, so bad that all of us hated it to make all of us. A lot of the votes we've seen recently, especially with the UAW, they've been pretty close vote. This is a, this is a whitewash, this is. You know, what this is, this is the average for average four vote for a director and it is States. 90% it also represents yet. Another reason why corporate governance is so important that, you know, that, that pointing Dave, Calhoun as CEO after this, incredibly tragic events, Having him oversee this terrible safety culture, just not taking it seriously that you needed new blood on your board. This is what happens in that your your labor force, your union realizes that we have an incredible amount of Leverage right now because you guys suck and we're gonna basically do what we want, right? And make no mistake, you need us or this company is going to blow up. You need this is Dave Calhoun's, watch, this isn't Corporation. This is the extension of dude who quit when he felt like it, paid investors. Paid this guy on the way out, as he's walking out the door, he's got a barrel of money and he's saying thank you. What has happened since they go that their authorizing strikes, playing still falling out of the sky. No one wants to work with them. Again we warned you for years that the culture by by appointing difficult Callahan. The culture had not changed. You had actually not addressed any problems. That's the second story of the week. Uh, third story that big shake-up at Southwest Airlines, so Elliot Elliot Elliot management. Is that what they're called, Elliot management Ellie activist, what are they called? Elliott management, Elliot Elliot just the Elliot David fighting for Southwest for a while to change a lot. So the big news is that six directors are stepping down. Including know why? No, six directors and executive chair. That's Gary. Kelly will all be stepping down? That's a lot. That's a big shake-up. We don't know the names of the four new directors who will be joining in November, but that's a big deal. A lot going on and you know what, according to our data That represents 62% of total influence data, only that you can only get at free flow analytics.com, which is actually free, right? It's free. You just sign in. You can see it, but I, I think it's fabulous. I'm a little sad that it kills our Southwest case study know we like, send to clients. I don't agree with you. This with Boeing worth, with Norfolk, Southern, this is like, all of our like talking points, right? Really, it really has been a banner year for free flowing it because that's because unlike Jeffrey sonnenfeld who pleaded with the with the masses to keep Alan. Shaw, we were right on the side with anchor holding. We gave us a slew of of evidence of why actually Alan Shaw should be out in the board should be overturned. It's just happened in a different way that we predicted that's all well we said that we wanted to remind investors that they they don't have to put the CEO on the board. That's not you can fire him from the board and keep him as the CEO. And therefore, you have an Independence Day. Overseeing the seat. Yeah. That's That was our conversation ended. Yeah and turns out, if there was an independent body overseeing he would have already been gone. He would have been gone months ago, so true actually. Yeah. It's, it's probably the fact that he was controlling the board is the reason why the board was inactive in identifying, this, this relationship. They must have known. I mean, I know, we're back up to Story number one, of course. I know, but they must have known. When and Cora sat got seats on the board that they were just gonna have to fire him and they were just waiting for a time. They must have known. I'm guessing gossip at that level is the is the first thing that they titter and Teeter about, in their meeting, they must love Gossip like this. And boardrooms, I'm sorry, you know, they love it. It's the only entertaining thing that happens. The fourth big story, which doesn't seem as big after all those other stories, but I want to included because it is a sizeable chunk. It Apple Apple has to pay Ireland, 14 billion dollars, essentially for back taxes. But it, you know what, If I did my math, right? It's it roughly represents three. Three percent of the GDP of Ireland, that's a big deal. Holy moly. Alright, I think they're GDP is roughly like 500 billion. I mean so this is a pretty big win for Ireland. This is a lot of cash. I mean, how many years of back taxes is that so really what you should be thinking is Apple may have robbed Ireland of 3% of their GDP by not paying taxes that they should have. And finally, I include this one for you. Maybe this should have been a good list but I couldn't not include this one. On Tuesday. Prime, minister Anthony Albanese of Australia. Australian prime minister announced a plan to introduce legislation into Parliament. to block children from social media and other digital platforms, until the until the age of like, I guess, 14 or 16 or probably, How they're actually gonna control this, how they're going to verify for age. I don't know. But essentially Australia in a nutshell, Matt, they want to ban children from social media but you know what, let the people cheer let the people have loved this but here's the problem. First of all, it's just introduced and okay and second of all, you know, this stuff is coming, you know, this is coming. Second of all, you know, all of the social media sites. Say, they already comply by having a minimum age, you're supposed to sign up for and then they just know, but seven year olds on it. Like, yeah, it's like when I go to like a like a vodka website and it just asked me to input my age, maybe this is all about the enforcement of the thing. It gives them the ability to come in France. I know. Was, is piloting a program to ban smartphones from all all school students? So the changes are coming up. I love that. I'm not here. Let's be the well, you know, those are my five big stories. All right. So we got Norfolk Southern CEO. Alan Shah fired Kelly, ortberg gets his first big loss in a already. In a union, voting for strike, Southwest board, loses six members. They were most seven dead anyway. Okay. They were like 85 years old. Here's some of the ages of the people leaving 77 777 777.80 and 69 someone's 57, but that's a lot. Yeah, that's a lot of people that we've been complaining about for years. Like why are they still here? They're they're nearly Actuarial Table mortality rates and so I'm and apples. Paying 3% of GDP back to Ireland and Australia plans to ban. Okay? I just want to talk about, you forget that one. Um, look, the Boeing strike is going to be a big deal if it happens now it's live and happening like now. So they may have already stories gonna change, its gonna change, but that's a big story, especially if they walk off, because Boeing cannot afford it, they already can't. They already haven't sent the plane out in a million years because they can't build them because they stink at that and now there's no one to work on the planes. That's even worse. That's said this comes down to Norfolk Southern or South West to me. I've never seen an agreement at a company before it went to a proxy contest where six directors resigned within the next two months, Or or a company like Norfolk Southern which everybody knew they stunk voted for Alan shot to stay. And now he's out, right. I am going to go as much as I'd like to like harp on the Norfolk. Southern thing. I'm gonna go with Southwest and I'm gonna go with Southwest because I find Norfolk Southern mildly, cute. Even though I shouldn't I'm gonna enter, I got two things out here. First of all, according to the according to CNBC, 30,000 boring workers. Actually did walk off the job early Friday so that the strike has happened. There's our already a work stoppage that was fast and second of all to add to the Norfolk Southern story. I'm gonna I'm gonna enter a little ESG conspiracy theory here. Oh I like this. Remember we talked about for a long time. Why the hell did Jeffrey? Son of suddenly come out with a 90 page reporting? That the CEO? Alan Shaw? No one could figure out. In fact, even tin foil hat. Right now. Right, we're holding itself filed in their practical that they made. Filing saying, why, like, what are you doing for this? What do you doing? Like and, of course, we never heard again from Jeffery son of where this is, I mean, I think the idea was like, The Norfolk Southern or management clearly paid for this report. Why are you doing this or Alan Shaw? Shows up to, you know, Jeffrey sonnenfeld class, from time to time, and it's important to keep good. It could be. Okay, so here's where the conspiracy theories. Alan Shaw knows he's in trouble. He knows he's breaking company law. He's having a fair with the chief legal officer and he's like, hey Jeff. I kind of need, I kind of need some help right now kind of struggling. Why don't you throw a big report in my favor? Help me out. Throw me a bone. I need to get through this. If I can, if I can get through this activist campaign, maybe I can keep my job because, you know, like I got the boards all on my side. They're all my buddies. Maybe I can get them and keep my job even though I'm you know, I'm having an affair with the. Wow, that's my theory. I was hoping I Jeffrey similar to reach out and tell us like, what is the story? Like, where did this? I don't think he will. I don't. All right, so, that's the story of the week, Southwest. Shake up again, representing 62% total influence which is significant. So that's all right, let's do something else. We now why don't we go to good list? Let's do good list and then we'll go to exhausting us Um, all right, so good list. I got three quick headlines for you. Go for it. Number one, Hasbro CEO. Now remember, Hasbro was in the goodlake. Yeah. It has already mentioned. Hasbro a D&D, something to do with the autism. Yeah. In fact, the thing I said about Hasbro last week was, Hasbro becomes a Healthcare Company because Dungeons and Dragons was shown through a study to actually help kids with autism. Well, this week, which is, to me way better than like shoving pills in your kids faces. I like that more. Um, this week, they might have undermined that now, that I think about it. But I really like this for myself. I like this for myself. Hasbro CEO says AI will become core part of Dungeons and Dragons. Okay, here's where Here's what might be one of the few areas of AI which I'm okay with that was just coming up with like a lot of us. I know times have changed but what a lot of us were younger and sometimes it's like we're playing a board game with friends. Maybe we didn't have a fourth person to sit at the board, right? I think that's a perfect use of AI. Let them play board games with your children, or you know what I mean? Like that could be a nice thing. I mean, the social aspect is the thing that was helping the kids with autism. I'm not suggesting, it's the only friend. I'm just be an extra friend offering this means that 45 year old loser dads like me. Can play Dungeons & Dragons again because I don't have friends anymore. I've just got kids and like no time. So, what you? So you're gonna send the AI to the coffee house tonight to sink for you and you're gonna stay home and play DVD by yourself. Yeah, that's not, that's not your worst idea. All right, number two story. Yeah, American Airlines flight attendants. Ratify. New contract with immediate raises topping 20%. Now, this isn't what leverage means at Boeing, right? Because they rejected 25%, this is an honorary re good list if it's a labor thing and there's a contract and so um well I you know like I was looking for batteries and labor stories. I don't like that. I don't care. And last the second greatest use of AI outside. Okay. Dragons in my mind. Yes. Before he died, James Earl Jones signed paperwork to voice Darth Vader using AI. That's nice for his family, right more money for his family. I, I don't know anything about the money. I don't know if they like ripped dead. He's not gonna get the money. Matt. You know what, what I know is that these are acceptable uses of AI this to me is is what it's two things should be over. I read that James will Jones got 7,000 dollars for Star Wars the but I'm sure he got more money as the franchise went on because 7,000 dollars for his first role Star Theater. His first license in Deal made up for it. Probably. Yeah and the second thing is I don't know much about Star Wars anymore is the franchise. Like I was kind of out with the Return of the Jedi. Is he still is Darth Vader. Still a part of every Star Wars. Yeah he was in the Mandalorian. Like he was like they bring him back. He was in the new movie where they had like a vision so so yeah, you can I don't know honestly mostly what they use. Voice for is video games, that's okay. And there's a ton of money and just I guess this is cool like I I don't know why you couldn't find an actor to do the dumb voice. But whatever I got you know, I could do that voice. I don't know if that's true. He's got the he's got a singular he's like Morgan Freeman has a singular voice like Matthew McConaughey. I know I guess I don't care. I guess I don't really oh there we go, there we go. Now we're correct. I mean but you're right though this is one of the acceptable uses of AO. So now I've got so basically my three good lists are two acceptable uses of AI as Dungeons and Dragons and Darth Vader and one ratification of a massive contract for real people. And thank God, Sam Altman was not involved because Sam want to just stolen his voice. Yeah, yeah. Scar Joe hats off the Disney for actually like paying the family, some money. I don't want to be born. I don't want to take the boring one, which is American Airlines. Yeah, that is boring. You know what I'm gonna vote for. I just like this idea in general of like, Come other types of companies being part of the healthcare industry. I loved your report earlier this week about how Hasbro should be, maybe should be considered a Healthcare company, right? Because I'm saying that they help autistic kids, right? Play a game. So I'm just gonna vote for the Hasbro store just because I just like this train of thought that, you know, what you have, that's that's not only correct it fueling my desire to go back to being 12. Yeah. That's it, that's good. Is the week has exhausting us and can I just say before we go over? Is that? I think I might start a new staff, but the Step being do business news headlines, ever named the CEO so far. The answer is no, because we have Norfolk Southern CEO. Boeing CEO Southwest, CEO Hasbro CEO. They never give you the names of these. Now, what we don't care about those people. Why, why don't we care why? People don't matter, unless they're playing Dungeons and Dragons? Then we can replace them with AI. That's it. Yeah, on too exhausting, let's keep it rolling. That's a nice segue to show done unless two hours a day exhausting is the week. With me, I'm channeling the great Jesse, the money Whisperer here. I'm really not just picked the three stories exhaust. Me. I'm honoring her and her new baby. Adam Neumann. Back in the news weren't you mentioning, you're mentioning failure at some point. So we did a proxy countdown in which we talked about the Darden Restaurants Boardman. Recognize the fact that these are really nine people who just are fail adjacent or failure artists. So speaking of which Adam Neumann, here's the headline. Adam Newman's, climate startup is quietly refunding investors after failing to launch a crypto tokens there and that's What? This isn't exhausting. Because at least investors got their money back this time and he didn't get it. When I'm exhausted is just the who, who BC gives its capital. Yeah. Correct about. Why do we keep giving that guy money? We we work one of the most famous collapses and corporate American history. That should be it. That's it, you're done. I don't care what like good luck to you. Adam you walked away a lot of money but we're not gonna support you anymore. Matt Levine has this whole Theory and that if you like, if you lost a billion dollars, it doesn't say that you fail. It says that someone trusted you with a billion dollars, that's the whole Theory, and that's right. And the fact is people look at them and they're like, that guy took a billion and did something that he fell does. Not the point, is that he knows how to manage it, and it's so dumb. It's so dumb. Stop it. Its founder fetish, and it's stupid. You're right. The next exhausting story of the week, back to Boeing. I just don't like this way the way sometimes again that we're not naming the person here but it's Kelly ortberg Boeing boss tells workers strike would put recovery in Jeopardy. You know what, the you know, what put the company Jeopardy, it was company management and the board of directors. It was not, it's not the workers, were threatening a strike, that's not they're not putting anything in Jeopardy here. That's not how this timeline actually works. You know, what Kelly learn from past mistakes. Try 13 years of mismanagement and 25 or 30 years of massage, human capital, nice. You know what you thread didn't actually work because this morning that's the second one exhaust me. The third one is just this. Just the, I don't know what to call this. Just the racism. There's just racism. Can racism exhaust me that? Am I allowed to say that? Because it does, pretty sure it's awesome. I mean, yeah, here's the latest headline activist investor, Kicks d. E, i obsessed. Southwest Airlines leadership to the curb, so Matt. There's some asshole out there who is recharacterizing this story as the reason why they're failing. And what they're really doing here is that they're they're targeting the the Dei members of Southwest Airlines that that's the failure here, right? It's not has nothing to do anything else. And and, and here's some of the information from this article. They say that the prevalence of Dei initiatives across the airline industry has drawn scrutiny following a high number of high-profile mishaps and in the case of Boeing deadly, crashes. You see what they're doing? Yeah, they're conflating. They're conflating Dei practices with deadly plane crashes. Did you know you did hear in that quote? You didn't that was that was there was a link in that quote and with the word scrutiny and when you click the link Twitter publisher, who put out this story linking to their own story. Okay, just saying, well, that's what's happening. You're right the drawn scrutiny. You're right like a echo chamber. And the next one is a is a quote from a racist, American Airlines pilot. Just One Pilot says if you're looking for a diverse Workforce and not a qualified Workforce, you've got issues. Okay. Yeah. So again we're into the like the Donald Trump JD Vance world of racism and you're right. It's one horrible racist pilot but but to be fair to me, my newsfeed picks up these stories. Like I'm getting these stories of you. That's what we're about, it's tired of the, the horrible racism that the I'll call it, the Vivek ramaswamy version of racism, which is conflating diversity with Merit, you know what? Like it's full of shit. It's horrible. It's ugly. Stop it. I did like, so one of the things they talked about in this article because I almost chose this as I thought about you, for, as holy as, but then, I thought about using it as good, as it was funny. That's not the right word use of good list, but the one of the things they, they quote is the fact that South West had set a goal to double the diversity. The other executive leadership and they're citing that, as a reason why Southwest is failing. Now, first of all, it ignores the fact that for the last 20 years people sitting on the board have not been diverse, right? So, all of their failures happened under the non-diverse, watch the people leaving. I think I looked at it. I think out of the seven people leaving its, there is a one block woman, but it's six old white guys. Six white guy, maybe an old woman, so I literally everything that they're complaining about how happened because it was old, white guys in charge. Second of all the number that they're doubling, they have 70 people. And I went through the report if 70 people in the executive leadership team of them, 10 are diverse and the number they're doubling doesn't even get them to represent the country in terms of like like the talent pool. So what are we talking about? This is really stupid. I want. Also point out on the proxy countdown that we're going to release this week, you you Had this brilliant thought to draft a new board at Darden Restaurants because the current board doesn't seem to have the skill set, right? That that should be a Darden Restaurants. And all you were doing all you were doing is focusing on core key skill sets for the board of Darden and high performing directors. According to our metrics, that have absolutely nothing to do with demographics. I didn't look at you one demographic, nice gender or nothing. And here's what you. Here's what you picked is three women three men, three white women, three white men, an Asian director of black director and somebody else maybe a Latino director. So, again, Mary diversity, they have the Stars. No stop stop. There is stopped. They aren't inversely correlated know. You just stop. And finally, I have to do this, I have to do this every week. No, you don't. I can see the production. No, not have to deal Tesla shareholders until Tesla's stakeholders. I know it's customers until the Tesla board. Finally wise up and gets rid of this, this complete absolute excuse for a human being. I'm going to keep harping on it, I'm sure. I give you one headline Elon Musk threatens to impregnate Taylor Swift. So, this asshole Uh, basically said that he was going to put a baby into Taylor Swift in response to her endorsing Kamala Harris for president. Come on. She really bored members, I'm not. Okay, I don't vote for it, but I'm going to repeat this every week. Shareholders board, member stakeholders. Enough with this guy, get rid of luck. Please part of the reason why he keeps tweeting this stuff, is he gets oxygen from the attention and if it's his company too, he's tweeting on his own platform, but if you ignore, he doesn't say anything. But why should we ignore him why? Because the job of the board to kick him out and investors to say that guy needs to shut up. But other than that, to be very generate 600 headlines a day but to be fair to Alan Shaw, who is having consensual relationship with the chief legal officers fired for that. I think you should be fired. Yeah, that's kind of rhetoric when you're running up publicly fired, literally 300 times since. But yeah, the fact is you we remember when Trump got kicked off of social media for the most part and how quiet nice it was because all the headlines just were what did he say today? And that's what musk is. It's the exact same thing and he gets His, it's like, it's like The Simpsons like thing where they think they get their power because you're looking at them like just, all right, I'm almost I'm only reporting this because he's still is one of the more powerful directors and CEOs in our database, once they get him off that board, we don't have to cover him anymore because he just runs privately. Held companies. I'm hoping cast iron Cormac in Delaware Chancery. Court doesn't pay him like says that shareholder vote is null and void. What's your vote? My vote. All right, so there's there's four options here. Adam Neumann returned money but got money Boeing's, boss, blames the workers, d, e, i obsessed, South West Airlines leadership is has been the problem and Elon Musk threatens to him. Pregnant Taylor Swift. I wish. Yeah, well you made me because I have to do a summary. I am going with Boeing boss tells workers strike would put so it's not therefore I Was thinking that we just keep like when the workers. Basically stand up and say, okay. That's enough. Then everyone says, oh, if you guys, it's one thing if, like, management wants to reorg shake up the company, we want to create a culture. That's terrible. We want to create a coach that's up to us. But if you guys say anything, oh, you're gonna destroy you destroy us your fault. Another thing that we've reported on a lot is it's not like Dave Calhoun's Pace suffered. I mean, and there's been no suggestions that they're all that money back. So yeah. So he so I'm going with that one races. All right, I'm tired of that, let's hold. Yes, come on. Yeah that's me. I'm surprisingly quick today though. We're not really that quick. We're still like oh 32 minutes here. All right, first headline, open, AI launching strawberry model with human like reasoning as soon as this week. Yeah, I saw this headline. What is that mean? All right. Well, here's the part that I found as holy, this is this is a quote from their website. Quote, we founded the Open AI non-profit, late 2015, with the goal of building safe and beneficial. Artificial general intelligence for the benefit of humanity, a project like, this might previously have been the provenance of one or multiple governments, a Humanity scale Endeavor pursuing broad benefit for humankind. And then they go on to say, quote, we always suspected that our project would be Capital intensive, which is why we launched with the goal of 1 billion in donation, commitments yet over the years. Open AIS, nonprofit received approximately 130.5 million in total donations. So, they set a target of a billion. They got 130 million It became increasingly clear that donations alone would not scale, the cost of computational power in town required to push core. Research, forward jeopardizing, our mission, oh, here is the problem. Here are clues that Humanity didn't ask for this. That's the part I giggled about. When you said for the benefit of human, kind for human kind, they've been taught. We've been spent so much time talking about the non-profit, and it's supposed to its mission was supposed to be protecting Humanity from Ai. And for the benefit of humanity, Humanity did did not want this literally at all. There isn't one there are Tech bro. Jesus complex assholes here, that set the goal of for the benefit of humanity. That goal was set by Sam Altman and Elon Musk. They set a target of donations and then got none 100 million of that 130 million came from musk himself. And the rest came from Reid, Hoffman and a couple other Tech Bros. So basically what we're talking about is their pivot from non-profit to profit now and they're doing this thing of human like reasoning. And like or general intelligence, no one asked for it. I mean, it really one in the humanity part of the benefit for Humanity. Wanted this to put this, in the context of the presidential election. The only thing that's polling worse than Robert F. Kennedy Jr. Is probably AI. It's it's unbelievable to me. Nobody likes. Him or it fathomable to me how much of a Gaslight the non-profit of open. AI has been Every time we talk about it, when the two women on the board fought to get rid of Sam Altman, and then they got ousted and replaced with Larry Summers and Brett. Taylor of like endless Tech, bro. ISM when it was founded, they they set a goal of a billion in donations, got 130 million because what happened was literally no one in humanity. Wanted artificial intelligence for Humanity, only the tech Pros wanted this. They're the only ones who wanted to benefit from this because they'd make all the money from it. I don't understand why we even like, have a conversation as if that this is what this company so hosted to do and they're breaking it, what they were supposed to do, was what they set out to do, which is get money for themselves making artificial. It was a Some like Mad Science Guy wild. It was like Frankenstein stuff and it's Tech Bros, being Tech Bros, break it and ask what for like, forgiveness, later, look. I mean, one of the actual brain behind this company and the and the one who wanted, who did still want to keep it not for profit is already gone. That's co-founder elyas his name. He's already starting a new company, he's already out, but that even that fact to me it's like he's Is going to start a new company to what have war with this company? Like go to war with this company. No, underlying fact is I don't want AI, I don't want with you on that. It doesn't make my life better. I think, I think I left to preserve the non for profit nature of it but like what I want is more trees and Birds. I want clean water, I want food, I want like to light a fire and not worried that. I'm gonna get bombed, AI solves, literally nothing. I want to solve its solves made up problems like what I can't do a calendar entry fast enough, so I'm going to talk to AI to make a calendar entry for me, it's all as computational problems that that do. What? For the benefit of me or anyone else that we know like it makes no sense. I hate it. I hate it and everyone involved in. It are assholes. All the hype artists all the people who started it. I hate the mall. So that's number one. So number one is basically AI. It's basically Ai and the narrative around AI. Okay? Number two, easy vote. Yeah, what else you got? As holy is as holy is Investors in Norfolk Southern, I think that one kind of speaks for itself. Why? Because of their, how they voted during the proxy contest? They voted for Alan, Shaw to stay on the board. Yeah. Can one of you? This is now? Yeah, this is now the third time. So, just in the last year, we had musk's repay, vote, which everyone was okay with for some reason, and the board, they re-elected Kimball Musk They? All right, Santa Maria. Boeing Boeing's board vote and the Norfolk Southern border at least in coral one. Yeah. So this is you have investors every week as us holes just like I have Elon Musk every week. I couldn't exhausting us but now is, when they are shown to have been assholes because now we're literally acting the CEO for three months after four months after the proxy contest. And then last, here's my last one, here's the headline. Dear. Settles us SEC. Bribery probe into massage parlor. Other gifts in Thailand. So, this is the anti suddenly anti Dei deer. Where's Robbie Starbucks? Now, what is blaming every Dei? Yeah, he must be a big Christian Warrior Robby, Starbuck, right. This is that this doesn't sound, right? This doesn't sound good. It's the fact is Dei and ESG these things that you hate are the things that actually matter to running the company like, the human components ultimately help prevent things like this because it because they, you know, they're they're they're they're they're interested in things like corporate. Governance. Accountability. Yeah, it's a little weird. So. Oh dear. And Robbie Starbucks, you you D. You turning assholes me while you're rolling back. Your Dei policies, feel free to, you know, pay off, you know, your your clients by sending them to massage parlors in Thailand. Three, three households AI in general and investors in general and deer look I I'm gonna I'm gonna pull an old trick on this boat because I think the AI and the investor ones are evergreen. They're ongoing will hate on them. Yeah, that's true. But when I saw this deer headline, it did strike me. I did get momentarily angry because like, are you serious? I mean, you're Yeah, the hypocrisy, the, what you're focusing on, what yours you're spending on money on rolling back, Dei programs and this is your priority right now like, you know, using racism over over. What are you doing? What are the fine here was 9 million bucks? But meanwhile, how many headlines about this? Did you see relative to the headlines about the Dei rollbacks? And you know what? Hats off to Reuters on this one? Because a lot of the, the headlines that covered, this didn't actually go into details about the fact that it was a probe into a massage parlor in Thailand. Like they hid that part. A lot of the headlines just saying, oh, it's a, you know, a small, fine SCC. What are they know their bunch of yeah. Thanks, whatever, man. That's my vote. That's my vote for as holiest. All right. Let's do a headline news. Do we have too many categories? I don't know what you're talking about. All right, I'm gonna start this one because I just loved it. And the context for this choice is Elon Musk. Oh okay. Why? Because we always complained about how stupid investors and trailers are for keeping on this guy who's not only a virulent, sausage and racist and just asshole and back, maybe bad at what he does. But that's true, except for the fact that yes, he founded he controls a meme stock. That seems to have to go up sometimes, but that's not the whole point of a corporation, not just one such as your share price. But anyway, We try to push him out for, for thousands of different corporate governance reasons, including that he's the CEO at 17 other places. He's clearly not a full-time CEO at Tesla. We know that's a joke. It's an absolute joke. But here's the headline. Tennis Channel out, CEO. Citing time spent advising Dr. Phil That's the only reason they needed is that he was spending too much time. Advising Dr. Phil wow that's a corner of the Wall Street Journal. That's all it took for them the fire him you know when we're looking at the tennis channel as a source of corporate governance that's not a great sign. Mine is much lower brows and that my headline is it takes only one Cheetos bag to have world changing impact on an ecosystem, national parks, this This one actually a bit depressed me too much. So I couldn't I I don't want to tell the national park, but it actually a lot littering in a cave where would you litter? And why do you even need Cheetos in a walk through a cave? Really everything about this is wrong. It takes more than one who eats Cheetos anymore. The national park on a walking tour. Like what are you doing? Who litters in a national park? I don't even imagine that part actually, imagine. And then, who's the national park saying this to like, I don't like I don't. There's all of it is, I'm watching the show Mad Men, there's a great scene, you know, it takes place in the early 60s and part of what's wonderful about the show, which is pointing out the cultural differences between then. And now there's a great scene where Don Draper's family is enjoying a picnic on the side of the road. You know, a beautiful Lookout, they had this Big Spring, they had this, you know, with all the, all the Fiction's, all, the plastic that goes with a big takeout meal and when they're and they're, they're, they're talking about the beautiful country in The View. When they're like, oh, this is wonderful. We should do this more often and then when they're done, they're done with the meal, they get up. And they go into the car and they drive away leaving all of the plastic litter because that's what people used to, that's what they care. That's what they, you know what. Now we know that you don't leave Cheeto bags and in a, in a cave. Yeah. And a cave with caveman drawing. Yeah, it's not mad men anymore. So get over it and no one wins because let's get out of here. Winners, winners and predictions. That's what we're on. Mine's easy. For winners mind easy and it speaks to the this this historical moment of Leverage for the Union at Boeing which is coming off of like 10 years of corporate governance failure they realized that they have so much power that 96% of them vote to authorize a strike. So I'm gonna say Boeing workers are winners because they because I think that or I think they're gonna come back pretty quickly and sell they have to this is not going to be a Mary, Barrett GM situation, right? She's not gonna, they're not gonna lose billions of dollars, just like twiddling their thumbs right? They've already lost billions of dollars, dude. Like breaking their planes. I got two winners. The first one is Ankara. I think it's obvious. That ain't Cora is the big winner. It's a kind of a back door Victory. I mean, but it's a win. It's a win. They were right about everything. Nice to us. The second winner is Adam Neumann actually. Okay well he's a constant winner really? If you think about it, Well look there's nothing that can better help your standing than giving the money back to investors. Now, they're going to start to think of him as not a failure. He's the guy who gave them their money back this time. So he's a big winner. I think that makes him a winner predictions this week. All right, you go first. I know, longer one, I have a prediction that if you listen to the proxy countdown, which is our other show, I did a whole board draft. Like you said, drafted new board members Garden. Restaurant is actually quite brilliant. Yeah, darkness and good. Yeah, I think in the next 12 months, we see our first board trade. Oh God. I hope a real trade in which two companies announced that the directors are swapping from one company did others. Why wouldn't this happen? I don't know. But it's, I think it's, it's inevitable. I don't know why. We don't do it and like, and we're gonna, we're gonna talk about like, what you would be upset. They still have the director job, it's a great job. Like, you get a bio friend equity and your network. You expand your network, you still get the cred. My prediction. Okay, I don't have a prediction. I just glow. I'm just glowing. I want to Glow. I think this is the first time any of my predictions for remotely came true. So here's my prediction from just last week. Okay, I'm gonna quote myself. Volkswagen responds to the trial of former CEO, Martin winterkorn, by laying off, 10% of a global Workforce and reducing its commitment to EB manufacturing. And here's a headline from Wednesday. This is Wednesday two days ago. Volkswagen scraps decades old job guarantees Paving way for layoffs. Come on. WOW. Be proud. Thought of happy. It's not a happy Victory. It's not a happy prediction. That's all we got. That's hazelnut Rallis. I'm your analyst card. We are free float. If you like whatever this show is now, what is this? What? I don't know. But if you don't actually, it's better. If you don't like the show, go get our other show, proxy countdown serious. Show a lot of analysis but you know what, you can also get now. We have another free flow media show. It's called Lipton, and they are geniuses. They affect more. People have already reached out to me saying their show was great then even asking us about our shows. So it's probably a bigger audience which is fine, we're not in college. I am going to quietly like brewed about it but it's totally fine. Okay, that's all we got. Come back next week until then goodbye.