Transcript
Yeah. That's bringing the heat throwing fastballs already, Friday. And we are live and alive. That's what happens when Ari goes on vacation. This is our the data Queen joined by asshole. I'm a guardian, he's not rawlas on today's. Weekly wrap-up Tech CEOs know each other. Hawaii. In New England are your only safe spaces. BC's are the new Godzilla in a bunch of giant wipers. I don't know anything that you're talking about. Was it that happened this week? It'll all become clear soon. Meets our weekly wrap up show. I feel like I missed the week. Look like everyone's missing the week is. Whatever happened to why do only teachers get the Summers off? How come we don't all get the Summers off? Yeah, well in Europe, they figure it out, that at least you take August off, Okay, I'll take August off. I'm down. Yeah, we probably should if we had any money then we should take the whole month off. Never mind. Come on, let's do it. Come on. Oh, we're doing it already. Yeah. The sooner we finished this Center, I can get. I can mow the lawn. Yeah, no, look, everyone's got something to look forward to. In honor of Ari. Get the battery powered. Mower out there. All right, let's do a story of the week. Excited. Now, I don't know what the story of the week is I struggle with this one? Well, I don't usually struggle with this. I find it very easy this week, I struggled, I don't know. I mean, like, last night there was a debate that. Yeah. But whatever is taking up a lot of, like comments, social show know, but it's just like that seems to that would my that might be the story of the week. The only story around the debate over the past week, was that CEOs or not willing to say anything, Yeah, well, no one is well, they used to be, but now I guess it's you're either too woke or you're not woke enough. Like I guess so they don't say anything. So despite so 30 million dollars a year, they don't say anything. So it's just crazy to me. So it's the 70s. We're back to the 70s. I think, if you're making over ten million dollars a year, in any profession, you should be forced to say something. I mean, look, the 70s were a good decade for white heterosexual men. So so we're back to the 70s like speaking of speaking of that, let's get to our first story. I did find some things so you can critique you can vote. You can tell me if I'm right or wrong, the first one, the Supreme Court actually, I have two Supreme Court stories, believe it or not know. 7 billion dollar. Perdue bankruptcy plan that gave the Sackler family immunity. Remember that one? Yeah, I do. It's been shot down by the Supreme Court 5 to 4 ruling know. Yeah. It's just the immunity that they rejected, right? It's like they just really upset about in the first place. I mean, it was pretty, it was pretty obnoxious to give the executives and the owners of this company. Immunity, from the drugs that they sold and basically killed half of America, right? I mean, my wrong here. No, you're not wrong. Who was the? Do you know how the conservative was that the conservative Bloc that voted to I mean, I'm sure there was some well, the conservative Bloc. You're talking basically about the whole Supreme Court now. Yeah, that's what I mean. I I'm guessing that there was some nefarious reason why they supported this. There's some like, you know, down the road reason why they did this to, to prevent lawsuits against Corporation to prevent lawsuits. I don't because I otherwise I'm not really clear why they would do this. I don't know. I it's just it actually kind of shocked me because most of what the Supreme Court did this week was pretty terrible. In fact let's get to the second one from this. We have four Here's the headline and Elon Musk backed Supreme Court. Ruling makes it harder to punish fraud. So, this decision basically said that the SEC can't use administrative law judges to decide disputes. In a nutshell. It it's limiting at the SEC and a bunch of other Regulatory Agencies ability to issue finds yeah, because they've been using these administrative law judges to do this. So they're really hamstringing this process. This is this is bad. I think that one's really bad mostly because the only even moderate deterrent was the seventh, find that you'd give to a company for something they did wrong. Like, that was the and even that was not much of a deterrent. But now, there are effectively saying you have to go through due process. You have to get, which will Which we know that corporations will pretty much win every time because they have the money and the and the stamina to to get through the series of appeals. And that by the time they decided it's been a decade, right? Like so, like, look at the Sackler Story, I mean, how long ago was that? Yeah, we're still talking about the Sackler Story. I mean, so it looks like for the Sackler one. It was it was Judge, contagi, Brown joined a bunch of the conservatives to say. They can't be held, you know, like they can't be giving immunity where Kavanaugh and and Roberts joined the rest of the the one or two other liberal minded judges. I don't know like that one. Feels like it was a real 50/50, right? Because the lip. So you're saying that the Liberals were being conservatives were split. They were split. Yeah, the Liberals and conservatives. It was a split case and it was mostly Around the idea that if you don't pay these families. Now, if this thing falls apart, it could decades before they get anything ever, right? And so giving them immunity is the cost of getting them something. However, I actually tend to agree that, that shouldn't be the cost, the cost shouldn't be. Oh, you know what you are. Horrible human beings and will, but we'll forget that if you just give us just a tiny bit of money for something, that's why we do both. Can't wait to take the money and accidentally put them in jail. That's, I think that was the third option that. Yeah, that was Gus. The lawyer suggested, there's there is not a single person in America, or in the world who is going to care. If the Sackler family accidentally ends up in prison for this no one supports them. There's no one on their son. Not even the CEOs of drug companies are probably on their site because they, they probably don't want to be associated with them, but the must decision is arguably way worse. Like, especially in our world. Yeah, I mean that is one of the remaining sort of threat against bad behavior and they also they unreal Biden's, the administ. The sec's repeal of proxy advisor due diligence which is a big one. I do, when I get into unreal language, I back out. I mean I'm not a part of that basically, Trump said that the proxy advisors have to tell the company at the same time, they tell their clients what their decision is and they also so as if I SS has a duty to the company, the ISS is at the mercy of their clients that someone pays for their information that would be like saying that, you know, every time a sell-side analyst gives something a thumbs up, they have to tell the universe. If you tell everybody not their clients, they like, unless you if You're buying if you're buying information. Isn't that what you get, if they have to tell it to everybody? What did you buy? You didn't buy anything. So it hurts the price, advisors ISS services are not, they're not court-ordered. It's not like you're driving drunk. And is like the court. The court orders you to, to go to ISS and get advice about voting your proxy. It's not, it's not like getting put into rehab, it's not really the same thing, it's right. It's a, it's a client customer relationship where you're paying ISS from information. I mean, they did to correct myself that the sell side analysts in the 2000s, were like selling their opinions in advance to their clients, and that got shut down by New York, suit them as a result. And I will add this. Ironically enough, John Tyson to see a full who got suspended for driving drunk. A Tyson Foods. He did court ordered to, he must become a subscriber of msci. ESG research? Oh, is that true? That's that. He talked about Tyson's ordered. All right, let's move on. I'm gonna call the first story to Supreme Court nonsense, Second Story. This one's like maybe only important to me, but it always, it always gets under my skin. And I just wanted to highlight it this week because there are two things that stuck out to me. I'm calling this one. Something, vaguely like these are the people that are constructing our future. Like we're letting these people construct our future and here's the headline AI could kill. Creative jobs that shouldn't have been there in the first place. According to open ai's CTO. Okay. Yeah. Again, we're watching this Trainwreck slowly happened, right? Where we're watching, we watch Silicon Valley, Big Data, the CEOs who have dual class shares and they can't even get fired by the board. We're watching them. Essentially control our future and do nothing about it and here is the companion piece that made me pick this story. There is a story at a Business Insider about the firing. The attempted firearm of Sam Altman, open AI. The headline, is the worst moment of Sam Altman's, open AI outing happened, just before midnight, Airbnb, CEO said, that's Brian chesky. Let me just tell you the story because it's just ridiculous. He says, the hardest moment happened at midnight about two days in, it was probably the board had led us to believe he was going to be reinstated. And right before midnight, we get information that Emmett Shear is now the CEO. Yeah I remember that at that point Brian chesky said the Altman and open AI president. Greg Brockman said they would go to Microsoft and felt like the page had turned While chesky said he wanted the two former Executives to fight to stay. They were ready to leave. If that was the best for open Ai and its employees, right? He said, so chesky said, I thought that, that was the end of it. But then he went on to say, the miraculous thing was it turns out Emmett Shear is also. All right, so I mean, this, this is the incestuous world of nude Nicks, who are we talked about, does on our proxy count on show, they're all about hyper growth. They're all about scale, unbelievable, break everything, break, every law, and every jurisdiction. It's the Uber method, right? And they're just going at Breakneck speeds, there's no guardrails. And now like the SEC doesn't have any, they have even less influence less ability to find this. Just this is the stuff that scares me up. Come on regarding his nightmare that ruins you have to love that like chesky's being interviewed here and yeah, the way He like builds the story up is weird. It's a weird buildup look. And you know what, the miraculous thing? Yeah, the miracle turns out like, like it was all a revelation to him like, like, he's talking to. All right, friends. What what what? So it turns out that he, I know. That guy. And so instead of And on the board of open AI, who were dead doing their due diligence based on their Decades of experience impressive experience? He just turned to his friend. Yeah. And then we can get Sam back at his turns out, the AI ethicists who all been lied to on the board. We're not chessie's friends so he didn't believe that to figure out what happened. And instead, he opens lines of communication because his friend is made the temporary interim, CEO. And let's not forget that the, the worst moment that he's referring to is thinking that Sam is actually gonna lose his. Yeah, that's the best moment. The worst moment to us is when he realized the Emmett Shear is his buddy and like this, we could just circumvent all corporate governance practices that open AI is likely to IPO because it's it's a non-profit but don't worry. It's not a non-profit. It's all Right, so, I mean, that's not the direction say, I'm gonna take it. So the good news is that we all have another dual-class company that chesky is the friend of the CEO. So, and let's not forget that, the, the reason why I picked this, these are the people that seem to be at the moment creating our future. First, there was another article that said that the real problem here is that the open aico thinks that creativity is something that needs to be solved for, right? Like, it's a, it's, this is the world of tech data, Big Data AI, they. They see these types of things if things, that they need to fix, right? Things that they need to get in there and manipulate and change and blah, blah, blah. Everyone turned my, I'm gonna come back to this anyway. We can rent more in a minute, the third Story, the week. Again, these are weird stories. I'm just calling this a double dip from the apology. Tours. National Transportation safety board. So believe it or not in the same week. We have two headlines from the national Transportation. Safety board. Talking about two of our favorite governance disaster's, over at Norfolk, Southern and Boeing and the same week. Yeah, listen to these headlines. And we've talked about these stories at nauseam. So we don't have to go in a great depth about why we talk about Norfolk Southern bones. But here's the first one, Norfolk Southern interfered with the East Palestine train derailment Pro. According to the National Transportation safety board chair and and the other headline Boeing blatantly violated the national Transportation safety board 737 Max investigations gets sanctioned. I mean, really the same week. And and on top of that again, the SEC is making it harder to punish fraud know, but back up a second. Sorry the Supreme Court. Yeah. Go because the boards of Norfolk Southern and Boeing were held accountable by Go ahead shareholders. Nobody re-elected like, oh and this and the CEOs are still. I mean, Dave colon is still there. Look at, you're the national championship, safety board. Do you do you look at this? And he keep saying like, we're trying, we're trying really desperately to make sure that these companies don't kill people and investors are really making it difficult by choosing the exact same people every single time to run these damn companies. So the ground I mean like literally they're actually killed people and they're still re-electing them, it's unbelievable. All right. Well those I didn't mean to get this show off on this tone. Yeah. I know those are those. Why are you just pick a story of us? Move on. All right, so this summarized it's the, it's the Supreme Court multi decision sacklers. And I would like, you know, like it's because the Sackler one I can get behind and the the due process. One, I can't get behind the AI killing basically. What the constructors of our future? The Architects of our future are don't care about governance on the Brian, chesky, friend, Revelation, and the NTSB calling out two of our favorite companies. This is hard because the same week, I can't believe that these are really, these are like long simmering stories that are basically the Supreme Court Supreme Court architects of our future, right? And the you have another story you want to pick. I don't know if I don't want to pick anything else. I have to go with Emmett shears. Also a friend of mine. Yeah. I've ever heard that's congratulations. NBC for not pushing back on that bullshit. As quote know, I'm glad they let him talk because that's quote, that's true but he back on this. The miraculous thing was it turns out matures also a friend of mine is unbelievable. Is that basically sums up govern In 2024 at the entire glass, Cliff the entire class ceiling the entire glass everything, the glass phone booth that they put in boards. Now, what did I call it? The plexiglass Booth. Yeah, it's why. I only got five clients instead of 500. That's, that's the reason. Um, yeah. All right. So that's it. That's the winner. And I'm the only vote. So there is no Orbiter. So let's go to goodle. Yes. Keep these quick, there's no re. So I picked one one, good least. I picked three all in honor of Ari and I can go quickly. All right, Hawaii will decarbonize. Its transportation in groundbreaking youth, climate change settlement know. I kind of like that. I like, how do you not like that? I like, it's not like about that youth, and settlement and decarbonizer in the same sentence. Desiree, fixers had his spinning, of course. Wow, she likes anything about that. The second one in honor of Ari, electric car, battery charges and under five minutes in track test, I don't care, but I know already loves batteries. She does love batteries, and five minutes is not very long. I like the barriers to entry though, really not very long. Is it isn't it? We've already been talking for 18 Horace. The speed. It doesn't seem to be the barrier to entry this. The the problem is infrastructure because Tesla said they were gonna charge it. Well Tesla said they were going to build out superchargers and then fired the whole fire their team Himself after taking the money to build out the Supercharger. So the problem is infrastructure. And the final one in honor of Ari and me, this one just seems too good to be true herb, Uber and Lyft. Will pay Massachusetts drivers, a minimum, 32 dollars and fifty cents an hour. Wow and and gives State 175 million dollars and settlement deal over wage violations. I don't know how you see the bad in that one. I mean, well, the bad will be when Uber and Lyft decide to charge a lot of Massachusetts. They charge the customer 32 dollars and fifty cents an hour, plus their 15 dollar fee. So, well good. The cars off the road. This is gonna be 40 dollars. This is always been my point about Tesla's, actually EVs, and Ubers and lips. And all this is that, you know, having okay. Yeah, great Elon. He got an electric car. Yeah. Yay. We it's definitely better than the gas and I agree, but it's like we don't need more cars in the road. This is not, this is not solving anything else solve anything here. Have you read about hockey ol', Katie hockey? Are there the congestion prices are? Yeah, she's got she's turned to. She's saying no, do it now. She reversed, it, flip flop, she flip-flopped. She reversed it. They were gonna do congestion pricing and Lower Manhattan. And it was going to be like 15.000% and they were gonna use all of the money from that to fund upgrades to the 100 year old Subway infrastructure. Yeah, I was just flooding and horrible. I was just gonna say the same thing that for any of you who have spent time in Boston, recently, or ever the tea, the subway system, I think is the oldest in the western world in the world and there's a lot of problems. There's a there are continuing, I mean, they're shutting down entire lines for months and Uber and Lyft is happening, right? And it's just sucking money out of infrastructure, right? What you were talking about with the with the batteries? Yeah, it's just we're we're not spending money in the right way. Anyway, that's the so much I made the story turned, a good list, the worst. What's your, what's your goodly is? There was one story Gilley. Add shot provides total protection from HIV and a trial of young African women. Can you see that? Seems to be? I mean, how do we is not the winner? Oh, that's not the winner, but look. Basically, in the Western World, we've largely forgotten HIV exists. Like, yeah, it doesn't, you see, there's no headlines about it because the cocktail, the available cocktail of drugs that you can take to basically live with it. For decades is for those drugs. If you can afford them, you they're here, but in Africa, HIV is still like I ever Present Danger. And good, except for not like turning away. And being like, no one cares about Africa. I will say, I do remember a story this week, I'm Googling it. The headline is young gay. This is four days ago from the Associated, Press young, gay Latinos. See a rising share of new HIV cases, leading to a call for targeted funding. So there is so there's not here, I'm saying that like, it's just you don't read about it anymore, and not as much. And that's my I'm voting for that. I mean, to me, that's just seems like I know. Well, this is kind of like Ari's not here to win protection or he's not here to defend the seventh battle East. So that's the winner. That's gonna be one shot. That's gonna be the winner. Talk about cocktails one shot really, I mean that's incredible protection. That's my vote too which is move on. We're moving fast. Yeah. Still now, yeah. All right. Asshole is the week. Here's your data. Um, James Dolan has 60% influence. Stop now James Dolan. Yeah. James to live in New York City, he's the asshole of the century. No. Well they you know they they started winning Next Year. Everyone forgets a meeting, forget it like, literally immediately that 60% influence James, don't if you, if you look it up, I'm free flow, analytics.com. Other people named have 20% influence. So that's you talk about the man, his mask and Square Garden Company. Madison Square Garden, Square Garden. There are seven other people named Dolan on the board. They have 20% of the influence and then there's James don't, you know, 60, speaking of infrastructure. I read an article recently in the New Yorker, talking about Dolan who owns Madison Square Garden, right? I mean that a man, oh, owns the an arena that the city, you know, loves and admires and is using is beyond me. But and because of his ownership and his abhorrent personality self-serving personality, they basically Can't read, they can't adequately rebuild the infrastructure on the west side of Manhattan that they need to do for the for the trains that come in and out of Penn Station because they share the same space, the same block the city, because James Owen basically refuses to cooperate with this. I mean, this one man is holding back progress. No, wait. Most important Transportation Hub in the entire and in the North America? It's not one guy. That one area, that one, that one city block is, probably the most important. It's not one. It's eight people named Dolan, okay? It's just think about that. Think how crazy that article made me insane. So I so James Dolan, the vote, right, what a man, the voting rights of the Class. B shares of held by people named Dolan is 10x. They have 10x voting rights Daddy good because they're probably not taking the Subway or the Amtrak know. I don't think that they don't care. Daddy. Dolan's voting Power by himself as 35.5%, and the total voting power of people named Dolan is 64% of the company. Here's your headline. They could be a coup. Yeah. Who's your headline? Madison Square Garden, entertainment, renews, CEO James Dolan's contract, for three more years. Well know, you mentioned it though. I didn't realize that he so he actually only has 36% voting power. So he does have to be nice to his family to get this. Yeah, there's some like inter family stuff. I'm sure. Okay, but a little harder, not 90, I don't know that he's like actively involved in very much. Oh wait, which don't? Okay, I'm Charles, Charlie Dolan. Is the dad still alive. Oh, 35% of the vote. Oh, okay. Runs at all. He's the head of everything. He's the, he's the number one, bill. Number one villain. And he only owns, I think he owns like 15 or oh, not aware of that. All right. So, so do you know how the those shares transfer on the event of Charles Dolan's death? That we know what happened? I don't know, I haven't maybe go to free flow. Yeah, I believe to us. Yeah, I'm gonna give him right back to the city. I'll take a little bit of cash off the top, but I'm not going to profit. I'm gonna put, I'm gonna give it to the city, but here's my real problem. Here's the, here's the real asshole because I read that. And I also read this headline, this week, the vet promise me meets with BuzzFeed CEO amid push for board seats. All right, what's your point? My point is, these These are uninvestable companies, you dumbasses like, why are They investible. Why is any investor anywhere invested in these things specially if you live in New York, I mean Vivek is a double assshole for founding strive with a mission to destroy woke companies through shareholding. They're using shareholder rights votes. That's what they do. They're voting on. It's a displace wokeness from companies and to build their own issue color, right? Like and they wanted to be like an ISS glass Lewis for conservatives. Meanwhile clearly not understanding the basic principles of dual class shares he's investing in asking for board seats from a dual class company. And when you read a headline that says, MSG renews James Dolan's contract. So, James Dolan renews James Dolan's contract, free more years is, that should be the, that should be the headline. And let's not forget this guy. This ass hat is building like Giant Pointless. So that so that fish can perform in Las Vegas and people get stoned. Why do you think that's what holding? But holding infrastructure in New York City hostage while building giant concert halls in Las Vegas? All places. Here's the most important development in entertainment and we don't need 20 years. We don't need infrastructure, but go ahead. But look the worst part about the assholes that are the investors and the writers who are talking about dual class companies without actually mentioning the fact that they're dual class companies is that you can carry yourself of your ass Holiness for free. You can go to free flow, analytics.com. You can look at the influence numbers of any company and if the influencer number of someone named Dolan is greater than 50%, it's fake public, it's not a real company. So a guy controls it, right? Like one guy and then you can just write about the fact that oh these companies aren't actually really public. They're not they have a traded security but no one has a right to it and It's basically gambling. So you have gambling companies, where you're just hoping some of the rude buys the stock after you. And then you have real companies where you invest, you can actually make it. I mean, you're not wrong. I mean, we talked about on the proxy content show this week. That was a, John had two more victories won for simple, majority voting one for what the classified aboard. He before you think you're powerless, the reason why these things are passing is it's years and years of talking about the issues, right? So, so you're not wrong Matt, I mean instead of ignoring these problems we can, we can start to talk about. Yes, we're not going to solve them overnight, but this is how progress Works, which sort of gradually chip away at it. And I think you're right, it's, we have to start talking about these companies being uninvested. We have to. We also argued in our proxy countdown, I don't know about where we covered meta Facebook, um, because it's a problem. If you're gonna come up with like some sort of recommendation for, how would you vote for a board member at these companies? Knowing that your vote effectively, doesn't matter? Sure. Well, the way we solved, it was vote against them everywhere else, where? Right? Because it should be, so toxic to be on the board of these companies and call yourself independent that you should engage with. Those directors at other companies and say it's sure you, you're you're respected, individual, you're just cashing a paycheck, it Mark, Zuckerberg's behest there, you don't represent me. So, get off that, bring back to bring it back to Boston. And to, and to, you know, self-congratulations it's the same. It's the same Theory. Matt that when Kyrie Irving left, Boston, the fans. Boom everywhere, right? That's right. You just forget about them. You don't forget your hatred for him, just because he goes somewhere else, you can still boo against them on any board, right? You can vote against him anywhere you want. You should be voting against Kyrie Irving. I did that. I did that, I like that. I was good. So, that's number one. Number two, that's what that's really number one. Okay. Keep going number two, we already covered a lot of it, but here's some data to as context, right? 290 billion has been invested in the last five years by VCS into AI alone. 143 billion last year was invested by corporates in AI. Meanwhile in 2023, non-fertilized Women's Healthcare VC Investments, had a record year and it was 435 million dollars million compared to the hundreds of billions in 2023. Black Founders, got 661 million for any company that they started. That's all the billion almost a billion company. So really what we need is a black female founder that does Women's Healthcare using AI to for anyone to pay attention to solve it and that you already read the headline, AI could kill creative jobs, that shouldn't have been there in the first place. Open AIC CTO says, Here's your asshole, VC's. You, you are the asshole of assholes. You are the Pinnacle of assholiness. You're absolute worst. And here's why? Because you're investing hundreds of billions of dollars in Ai and this is what AI can do right now, it can make movies, make digital paintings and art, it can make music, it can write it can now it can do things like commentary sporting events, right? All right. Oh my, they're using their Al Michaels at the Olympics AI generated. Al Michaels is providing daily Recaps. The 2024 Summer Olympics. But let's not forget that to do these things. Matt, they're basically breaking every copyright right? Are they stealing it is 100? And you want to know why? That's how they know how to make movies know, or, or to write or to tell jokes, but you want to know why they can do this, because art is easy to steal. It's in the public domain. You have to be able to view the art in order for it to be art, like you can't Art, you can't have stealth mode art, right? Like you can't like have some artist who's like, I've done, 400 paintings that are worth a billion dollars, but no one seen them yet, right? I should start. I should carry my garage. Like that doesn't exist. They have to be out there. You have to put yourself out there as an artist and actually that's the tension of being an artist. Like being out in the world and getting judged is the tension of being doing art a writing or anything creative. You know what AI can't do it can't take your fucking McDonald's order because it gives you hundred dollars worth of chicken nuggets and it gives you bacon covered ice cream. It. Cannot answer basic questions. Without hallucinating, trying to steal you from your wife, it can't have a conversation with you. It can't not be racist, sexist, ages, or just generally horrible. It's basically every sounds like a good America and because you know what happens when they teach it using a Twitter, Posts and read it posts and Facebook posts is that it turns out to be a horrible, human who's really good at stealing stuff from everybody else. That is what AI is AI is the living embodiment not of humans but of Mark Zuckerberg style VC, funded hypergrowth assholes. That is what. Let's not forget the CEO Brian chesky. He knows Emmett Shear here. Thank God for that. Um, so this when I read this headline, I was like, so here asshole. He's the VCS of the, as their final prolong this conversation. But what does one do about this? I mean, I know we can vote against directors and I get that I get we I the your, in the first case of the Dolan family. I'm looking right now, Charles Dolan, the father he's he's gonna be 98 this year, but anyway I your remedy their voting against the directors everywhere talks about. Well there's that but the VCS how do you handle the BC? I think there's Money on the sidelines. So, I've had a lot of conversations with with groups of basically marginalized communities, like women who aren't given board seats, who are incredibly powerful smart, wealthy lgbtq plus like there are large cohorts of people with money Who are sitting on the sidelines in part because culturally, they're it's not, it's not as easy for for them to take risk, right? Like if you marginalized, then taking risk is actually not easy because as a white guy, if I lose it's like, well, I'm a white guy. I'm gonna get a job, but if you are like a black gay man, there's like you lose your, you take a risk and you lose, you may not have a safety net, but that doesn't mean there's not a lot of money sitting on the sidelines sort of waiting to be deployed and it's being deployed. Very what I think needs to happen is your meat needs to be an entire revolution in the way. Marginalized cohorts think about their money. They need to deploy it and take the risk. Because if they don't, this is what we're left with there. Are there are tens of billions of dollars. Well, this is what we're in capital that basically is afraid to take. Chances is afraid to be aggressive, and the fact is In the absence of that, this is what fills the void Vici, white male, VCS hyper growing amp. It up all the way to AI stealing art And being the worst human in the world. Exactly, a reflection of the white male hyper-growth amp. It up, break it all bros that are funding it. It's the it's the method that demonstrates it. The best to me is that the scary the Uber method, right? That's right. The you go into every jurisdiction. You break every law, it doesn't? It just doesn't matter. Because by the time you're done, you're gonna have enough customers and users that they can't go. We're doing about it. Can't get rid of you. All right, so that's number two. Number three. Okay, last one. We had Dolan's and VC's last one. This one's faster. Um, there were 1.55 trillion dollars in Foundation assets as the second quarter of this year trillion trillion dollars and this is the US. The average distribution in the form of a grant, on an annual basis, on average, a foundation will give 7.7% of its assets per year on average. So you're saying like, roughly speaking. If they had 100 million dollars, they'll give roughly seven million, seven million of 7.7 exactly on an annual basis. That's it mean, while the average market rate of return is 10.5% since 1971 in the S&P 500. So if you're a foundation, you can take all your money put in the S&P 500. And you could give out 7% of your assets is Grants and you still make 3% a year. That you keep and doesn't get deployed to anybody for any good or anything. The asshole here is philanthropy because I read this headline, Warren Buffett gives us a preview of his will. Yeah, they love talking about how generous quote unquote warnings giving pledge, I went through all the people in the giving pledge and some of the people are just insane to me that they're, they're doing this because what Warren Buffett has said the preview of his will quote unquote is to put all of the assets into a charitable Foundation run by his kids, right? That's just asking by you know, Means we have another petting zoo in Omaha. That's unbelievable that we think that the we view these people of Paragons of, sort of social giving like rock modern Rockefeller, just this overlaps. My fear with with letting the AI industry, right our future, right? Like we're letting we're letting the children of the Warren Buffett's in the world, sort of control the cap, and they choose are and they choose, in fact, I read giving pledge all the letters because you they put a lot of the giving pledgers put up letters and the one from Bill Gates, was pick something that you're passionate about, or know it was maybe Stephen schwarzman. One of them was pick something that you're passionate about so you can see it through to the end. So that means we're at the whims of billionaires, passions, whatever their passionate about gets funded to the tune of 7% of their assets. And they keep the extra 3%. They get on market returns over the course you're over here. So that the wealthy stay incredibly well, he they're kids, get Salary for running the foundation every year. No, big deal. They've already got their houses, paid for their education paid for they got any job, they want, they the buffet on other boards now, having accomplished being Warren Buffett's kids, right? Like And so, who is your asshole here at philanthropy for the idea philanthropy because meanwhile Mackenzie Scott has herself donated 15 billion dollars since she's figured out. She just gives it out. She's she's figured out how to how to break this 7.7 distribution model. She she wrote just writes checks, she wrote in her giving pledge. She was she gave she does she signed a giving pledge quote, my approach to philanthropy will continue to be thoughtful. It will take time and effort and care, but I won't wait and I will keep at it until the safe is empty. But attitude. But then how was she gonna ensure that the 59th generation after her are still billionaires? But what about them? What about the 59th generation after her? She's really, she's really fucked up for children. You made this hard for. All right, so there's here's your three. It's it's this isn't fair. This it's it's the misinterpretation of dual class, which is a little wonky, as an assholes, go with the, but because it's not Dolan, it's not Dolan, he's Dolan, but it's like, but you can cure yourself. Hey, but see, I love thing is, cure yourself of that ass Holiness. Just by going to freefall, analytics.com and looking companies up, I actually just did. And I I first of all, I Need You who actually listened to us and don't use our platform. I really don't know what because the platform is beautiful and amazing and beautiful overstating. I put I hit the director table. I put Dolan into the search box and I'm sorry msci. This is not like msci. Where you put something in the search box and it takes you go make a cup of tea. It's like, and it's still kind of figure it out. I put Dolan in the chat, the box and I immediately got eight dolans Paul. Yeah, they're all there Dolan members. They're all there for members anyway, so there's that one. Then there's the VC's who are basically the Pinnacle last Holiness for their AI, you know, architecture. And then a philanthropy. So, these are three things that I love to hate on, right? That's why I picked them, I'm pandering this week. There's No re some pandering to you. So, here's how a little bit. Eliminate, I hate Dolan with a passion mostly because of this. Well, there's so many reasons, but the the holding the, the people of New York City hostage the by by refusing to make a deal with the the government about the massive Square Garden Transportation Hub. All that that just makes me insane. But I will say as a Celtics fan, he's in the Nixon sucked for the last 50 years. So I'll say, I'll say no to Dolan on this one. Oh, by the way, just just Dolan. Quick fact, I had forgot in this happened, but Dolan tried to put Isaiah Thomas, as the head of the New York, Liberty, the WNBA team. And that was after he settled sexual harassment, is that right after. That was after, That happened so continue and yeah, okay. Well then I feel I feel embarrassed for not picking him. I mean, look, it is, it is wise to question philanthropy. It is wise to question these giving pledges, but I'll take a silver lining here in the, in the form of Mackenzie Scott who is, you know, creating a path to actually make this work by just giving it away. So I'll I'll say no to that one. I'll always land on the VC world as because are you that Because your numbers with how the capital is being spent and we know it's just going to to short-term growth, we know what's going to their friends and and and and and the troubling part to this one is, I just don't really know how to fight it at this point, because most of society doesn't seem to want to talk about this, they don't, or they don't know how to talk about this or they don't know that it exists. It's culturally difficult because you're asking, people who are always at risk to, to take risk, and that is a really hard, ask. But the fact is, if they don't, then the people who are comfortable taking risk because they always have a safety net, then keep taking it and and control things, right? That's how control. That's how, like, if you want to manifest power and control. That's how you do it. You make it hard for somebody else to exercise power and easy for yourself to exercise power and then if you're willing to take that risk and lose and have a go badly, You know, it's it's like that's the only way to challenge it, but I I'm playing the bet I'm making is that, you know, as a white guy you're not gonna take that risk. The really troubling thing to be too isn't from a, from a very nerdy perspective. Is that I was looking at a story earlier this week, I think it's the that there's a software company that has majorly screwed up and they got they're getting hit by by hackers. It's basically shut down the car, the car dealerships, right? And I think it's called cdk software their own buy a investment company called Brookfield. Yeah, sure. And I'm, and I'm looking at their leadership. I spent way too much time on this as I do with so many different reasons. Like right research rabbit holes at this company, there's basically like 126 managing directors at this. That's a company that's a lot in their directors and I and I if I remember correctly, I think 114 of them. basically are men are and mostly white men and because a lot of these companies don't fall under the public corporation, purview that we look at There's just a lot. There's just a lot that people don't know. They don't know about these people that and and a lot of the progress that we've seen in our world like like having women, you know, more women on the boards. Although, you know, they're not really in CEO roles but again Because we just don't know about these people, we just don't know these things are happening. There aren't there isn't a data set to reflect what's happening there, and it's just, there is a little bit, very long-winded, very long-winded, way of saying that I'm picking the VCS as also all along with way saying go to free full analytics.com and look up. All right. Yeah, move on. Let's do some headlines. Can you imagine people actually sticking to this? I've already turned off the show. Let's come out here, quickly. All right, I got two headlines for headline news. One is Boeing says, it's space. Mission is going well despite its Starliner. Leaving two astronauts stuck on the ISS. Well I have a companion headline of this one actually. Mine was Boeing says that the astronauts are not stranded while the astronauts remaining. I love that. I love the real framing. It's like that's stranded. My second one is slacks, AI is saving users. 97 minutes a week, but its CEO worries. They don't know what to do with their extra time. I don't understand. Why is he worried about it? First of all, it's a. She and second of all second of all, I thought I was the owner, okay? The owner who I probably has all the yeah, yeah, that that's a man. But what? Yeah, what did she worrying about like why is she wearing what some users not doing what? No, he's talking about users like on slack. You worry about, like what are you gonna do with all this extra time? Like what are you talking about? That's a weird and my other headline, which I, which I think you picked for that is the best deadline. The cybertruck faces, another, setback, as it recalls, more than 11,000 Vehicles, over its giant white. That's it, that's it. Mostly picked that because in our proxy count, Down Show. Which if you don't, subscribe to the Practical down, what is wrong with you? There's so much information in that show and our Braxton County and there's less complaining. There's less like the world is coming to an end. And, and on Tuesday show too. I think it was a, your nuggets. You brought up you brought up this story and you called Elon Musk. You renamed him? The giant wiper. Oh, that wasn't me. The company did Tesla. He's now officially giant Viper which I think is the fabulous name. I'm voting for giant wiper mostly for that. All right, let's just ride just because you want to be done too. Here we go into winners and predictions. Yours is strange. Well, I'll go first. Uh, my winner, I'm keeping this positive are people who live in Massachusetts, specifically Lyft and Uber drivers and Celtics fan, why not? Shut out to Massachusetts there. I'm surprised go with people who live in Massachusetts. Why and Hawaii? Yeah because well I will say this, a troubling thing I just read before the show started is that they're now 40 towns in Massachusetts where the average the median price for a home is a over a million dollars. Question. That's not a good thing. That's not good. This is the cost of being better than other places, right? Like that's just the way that works. Um my my winner is actually Uruguay, okay, I don't know why I'm watching the Copa America and apparently, I did hear that the debate happened last night but I was too busy watching, Uruguay, dismantle Bolivia in, in the soccer tournament. And the real reason why I think they're the winners because I don't want to talk about the debate or anything. Thing else. So yeah, that's a better. I didn't watch. I didn't watch the debate because I knew how much agitation this show would give me. So I didn't want double. I, my wife wanted to watch the debate and I told her to put on headphones and watch it and it was apparently a disaster for Biden because he's an old daughter ring. Man, and it was a disaster. It made Trump look better. Even though Trump literally lied, his face off the entire time and said, whatever he wanted to say AI generation. Nobody. And, and, and that's how I was gonna go. And I still bring us down. Change the vote said, change it back to this, get back to the soccer. All right, that's why I have, that's why I picked the winner, you're away. Yeah, prediction. My prediction is cynical Democrats. Spend the weekend worrying complaining about Biden, while spending 270 for a dinner for two at a relatively. Okay. Place on 49th Street and say, well, there's nothing we can do about it, I don't know what kind of prediction that is a believe me, believe me, that's happening all over Manhattan. That is Peak cynical though. That is probably, that's pretty bad, that's pretty bad. I my predictions. I'm going to stick with, but I, my point being you can't do something about a people. Come on, just like Matt said, with the VCS, right? We gotta take this risk, we gotta take My prediction is that Italy beats Switzerland and Uruguay wins. The Copa. America upsetting what is Italy beats going on at the same time I'm watching football and then they're all gonna go play in the Olympics and then they're gonna go blame the Olympics. This is I love it. I am having the best soccer summer of your life, really? The Soccer Star. You don't have to leave Connecticut. This is perfect for you. My seven year old watching soccer games, every single night is the best. That's all we got. That's, I'm glad we're ending on an upper see. I brought us back up because I talked about something that only I care. Oh, except that. Maybe I'll watch them tonight at any game on today. That's Damien, hazelnut. Ross, I am here. The data Queen will be back next week, but until then, you should be listening to all of our shows, and going to free flow, analytics.com, and signing up for free. I don't know how many times I have to tell, you something, free before you'd actually go and look at it because free is the number that everyone can get behind. At worst, you'll be a little bit better at your job, right. There's a lot of great data on our platform and we like I know we're we have a poor Personnel these but you know, for yourself, we'll teach you something, we'll teach you at least two, things everywhere. That's all we got until next week. Goodbye