Transcript
It's Friday. That sounds forced and we have music. I'm just excited that we have music. What accomplishment? Yup. This is Ari the data Queen joined by analysts told that was cardi and hazelnut Rollins. Come on you guys. It's a weekly wrap up. I promise I was gonna get hazelnut coffee for the Friday show. I, I'm a liar. I haven't bought it. I don't do. I liar. You and investors. Weekly wrap up AGM outcomes. A company's use of it. I that doesn't sound bad. And a check in with DeSantis before Florida. Well, we haven't talked about him in a while. I feel like we did a lot. So I saw his name while scrolling. I was like, I wonder what's going on putting fingers meatball run? Which is the grossest thing to be associated with. I don't know why. We don't call him putting fingers. All right. Well, let's get started with story of the week. Oh God. Is this gonna be the most depressing week of our Okay, in order of Max, I know Matt a lot of bias here, I don't mind wants to talk about it this morning. This is supposed to be my fourth story that I'm gonna start with this one because I think Matt wants to talk about it. This is an honor of today's AGM annual meeting at Boeing, which was held at 11:00, which we should have live streamed that we we didn't, we should have, but and honor of that meeting. I didn't think we'd have results in for this show but this is why Matt is so differently. Breaking news like seven minutes breaking news. Is that okay before? Okay I'm gonna read you a few headlines that I gather about Boeing just this week it just and I'm gonna ask you. How do you think Cheryl's voted? Really, really surprised by the answer and the main, the main things up for vote really were should. Dave Calhoun be reelected to the board? And should he get a pay ride along with the other four? Okay? Just a few headlines I picked just this week. The Department of Justice says Boeing faces criminal charge for violating deal over 737 Max crashes, Union offering Boeing representative training on us whistleblower laws because the whistleblowers are being punished at Boeing for for whistleblowing, Fallout from Alaska. Airlines blowout continues as key, Boeing supplier is laying off about 500 workers. Boeing's problems are extremely annoying according to a CEO of Lufthansa, extremely annoying. Boeing Starliner spacecraft has a risk of disaster and should be grounded. NASA contractor says, and then unions, and lawmakers protests Boeing because they're locking out firefighters So that's just from this week. So how do you think the meeting went anyone went away in? What's your question? I think investors are incredibly rational. It is been, you know, Calhoun joined the board and like 2010 2009 something like that. He's been there for 15 plus years. He clearly demonstrated. He's not good at his job. In that period, it's been the worst period for safety for accidents. In the company's history. I mean, bowling had to get bailed out there so badly, managed. He was the chair of the board. When the planes fell out of the sky, he's been a part of every part of this president. He's been a part of. I think investors are looking this and saying you had a good run but it's anyway it's time to step. All right, at some point. Infamous run. You know what, find the buzzer button and hit it. There's no there's no way that you should be paid and or Beyond this board anymore. Right? Am I right? Am I am? I totally correct. So the results are not in but the headline suggests that Calhoun has been reelected. I don't know about the other directors, some, I don't know why and say, I'm pay, his pay raise up to. What, what is it up to like 30 more million? He got a 40, something percent increase from last year. I thought for sure that they would at least reject that even that passed but like the one of his pay. Caveats from last year, was that he launches the Starliner and that like more accidents, don't happen. The door, plug popped out and the Starline has been delayed indefinitely because of like the one that NASA contractor said has a risk of a disaster. Should be grounded. Yeah. Yeah. A risk of disaster. That's what we want. And yet still not only did he get an increase in pay and investors approved it, but he has a golden exit pack. Oh yeah, of course, that is worth 45 million dollars. I'm 5 million of which instant vests when he leaves so he gets 5 million dollars just for leaving us with this rack. Let me add two more parts to the a he got to resign on his own. He wasn't even forced out, he wasn't fired. Yeah he gets to pick the departure date, he's just hanging around for as long as he feels like it. Because who else would you want in charge of succession planning at this company? Then Dave Kyle home what would you want him to hand? Pick the next CEO? It actually seems as though. Steve Mullen. Confused the acting chair. He's chair. Now was serving Boeing. Customers asking them who they thought should be the CEO. That's, that's how desperate they are. They're like, excuse me, you buy some stuff for us. Maybe, opinions on. Who might be good at this job? We have no idea. So that we are not the headlines FDR's. He still alive. He was good. I think he was pretty good actually. Okay, Elon musk's only got five, CEO roles, maybe he could do this too. If that's First early week, Second Story of the week, open ai's Chief scientist. Ilya sutskever is leaving the company. I remember that this was the guy who was instrumental along with, or it's like two or three, a female board directors for ousting Sam Altman back in the fall last fall, right? I think it was all. Yeah, because really he was basically concerned about the potential harm. The AI was gonna cause the world, right? I mean, let's say the women who were on the board, who voted against Altman, were one of whom was an AI, ethicist they're gone. And such covers role inside of open AI was alignment with the mission like to make sure the AI did not harm Humanity. I want to make sure AI was good for Humanity, and this is why this was the existential battle, the existential crisis. Ilia I don't know if I believe this, but according to reports a few days later after talking to his wife, he kind of broke down and changed his mind in a apologize. Thereby, a suppose opening the door for Sam Altman to return. But now he's gone. I mean he again this was the the barrier to destroying Humanity, I guess, right? Because Sam now is Sam. Now was completely unfettered. I don't so this. I don't know that this doesn't sound good to me and on top of it. The other big story hopping to do with openai this week was that openai is going to is going to use Reddit content to train. Its Chad GPD, Reddit of all places just greatly just on public. I mean, we'll say there's no racist content incredible. It's okay. I, I really just, I would rather they use the content from like a fourth grade class in New Hampshire. I mean, this is I love that idea that this is nuts for anyone who's spent time on Reddit. It's a nuts idea and we need Ilya back. And now, look, I think you like our like, you you're glancing over like the core part of the story to me, which is that after such cover was part of ousting Altman. He didn't work again at open a yeah I don't I wasn't, I wasn't aware of that so they sidelined him immediately, is that what happened? Apparently the there's a quote saying we tried to find like a role for him here, but we're unsuccessful. There's some quote, The Genius, the genius behind the whole operation man who basically created the created this thing. This is not He knows the pitfalls of it, like Altman was the money and this guy was the brains and and the the indications are, he basically has not had a role inside it and they've just been fighting and I think it's like, it could it be more Petty? I got all this money. You ousted me? I thought we were friends. I mean, what is this? What is it? We're talking about, an existential threat to humanity, and there are its petulant. What time is him to have him? Come back in the first place to stop the fight. Like, why? I wonder what happened? Right. I mean, what day in a David Fincher movie? I'm sure. Yeah, it's pretty. I'm pretty sure it had to do less with Allman and more to do with the employees. I think he got like he got like he just friends with his there were like, what are you doing? Why are you abandoning us? And I think like he felt in tremendous amount of guilt but you leave. This could impact Sam's bank account. He might not be able to buy his seventh Hawaiian property. So you should Probably. Oh that's my second story that we all these third story of the week back to annual meetings, too big. Maybe this will cheer you up, Matt, two big say on pay votes released first at 3 a.m. A voters rejected pay at 3M 55% said, no, although this part might depress you the page here. James fitterling 95%. Yes, so that the guy who chairs the committee confused, right. The architect behind pay a ostensibly at 3M. Shareholders said, we love you but the pay plan you created sucks. I don't it would literally it would be like if the person in charge of getting a company's like healthcare plan. Got the worst healthcare plan and every employee rejected it but they still got a 99% approval rating from the employee weird. This bananas only at the board level. The new ones here is that he is actually stepping down from being paid here. He's gonna become the lead director at 3M. So that's what's going on at 3M. And how about this one? A black rock of all places better? I don't know, I don't know what to say. I mean, maybe it's a moral victory. That he's not the page. More for somebody. I don't know. I forgot capitalism was about moral Victory. Well, let's see how he handles this paper, right? Because he's really gonna be one of the lead people in charge of reacting to the the non-binding Pavo the other big news. Speaking of non-binding, is that black rock? I know that I think. Are you want to talk about this later? But say, on pay a black rock 42% against. That's a that's a huge number to me. That that's a massive story. It's big is I suppose 42% still a majority. Let's be real. I mean who's voting against him anyway? What saying ESG stuff? Two years ago wasn't like both. I assess in class Lewis. I think that just like yeah, vote against pay. Yeah, they're voting against him for what? Like now it's like it's like they're saying, pays missed the line, he's been waiting the whole time so when they vote for them. Set, and they vote against the Europe said, what do you need out of this? What I process is a reason that makes sense. Well, if you can give you higher data for the reasons, that's my point. My point is all of these votes seem to be absent. A reason, I could tell you. The reason that they said, I mean, if Calhoun is getting, are you do that this year? You're covering this already? Do that tell us um, yeah. Oh, you want to wait for your story? Oh yeah, you tell us. Go ahead. Oh wait. Oh, how about this? You know what I realized. Matt we did the proxy content. Yesterday. We covered big three oil companies. Exxon, Chevron shell, the shell, we're shell. Its UK right? Is it UK? Yeah. Their CEO made just under 10 million dollars. So, that's my new rule for this for everyone. If the CEO makes over 10 million dollars, just vote against pay. That's how about that for easy. How about that? Okay. Fourth story of the week. Um, I feel like that's easy enough for ISS to comprehend, right? There's your trigger ISS, know, maybe, Perhaps. Yeah. Whoops, wrong sound effect. Four story the week. This was sent in from Jesse the money Whisperer, but this is too good of a story to pass up. Here's the headline. There are two many dicks in the boardroom. Okay, this this this this this story absolutely blows my mind. This is a publicly traded company right in the world where we get pushed back for even suggesting that you voted against the director. That's mean. But this publicly traded company called elf Beauty, put out a whole report they have a part of their website. Dedicated it dedicated to it, basically saying that there are too many directors named dick. Richard, Rick and dick on public boards, right? But here's the part that I really love. Here's the part that just absolutely double blows my mind. No, not only that they're doing the first place but they have a dick on the board. That's right. But they don't even tell you they don't I They don't really even disclose that. No, I think it's somewhere in there. Okay. They're like discussion. Look too many dicks. Okay, well then I then I applaud them for actually admitting to it. So the story here is that six out of their nine board, members are women, which is amazing, but if you look at our data, there was a concern here and that is that those women don't have a ton of influence because now they don't because, unfortunately, they're, they're CEO terrain a mean. He's also the chair, which is completely unnecessary and he does. He could controls 4% of shares, which is a lot for publicly traded company in the US for the CEO to have that much just shared. So, so his influence is pretty high at that company. You know, this is the worst part about it, because it's a great meme. Oh, and it's a good as I point, wonderful. And you want to apply them and then you look at them and you're like, Why can't you just like, don't make the CEO, the chair and why can't you do the other governance? Things like. So it's a meme and then it like vaguely undercuts itself that the rest of it. I will say that they have a dick on the board. Come on the dick on the boards. But I will say this first, I thought that they didn't realize that they had, it would have been funny but I'm sure they do. Um, I will say this about them though their leadership, team majority, women. People of color are represented on every Management on the board. So this company is backing a lot of it up. Maybe, maybe it's just a maybe the just, it's just funny. They have a dick on the board. Maybe it just a little like a little laughing ghost Modern humor. There, you know, man, we're talking about elf Beauty. How I love it, we have talked about those my four stories. All right, so the four stories are Elliott's. Cover leaving? Even though he kind of sort of left anyway, votes against pay too many dicks in the boardroom and boeings. AGM. He's alive. I'm gonna go first. Oh yes. I know there's one. Right answer here. Open AI story. Oh because you know, yeah, for people that thought That anyone with any sort of concern or ethic questions, could say something that could have said. Oh, but look, the chief scientist that, you know, try to oust. Sam Altman is still there, even though he wasn't doing anything now, they don't even have that. It's just so clear. Those people are very clear message. We're the Microsoft. The only problem really is the is the opening eyes, not a public traded company, so we can't unfortunately, we can't show to investors that Samuel and controls 90% of board influence, but so I I'm gonna go with Boeing's AGM is what I'm gonna go with, um, mostly because those are agrees with me. It's almost like I can control it only because, like, the reality here is this blew up my morning because I cannot figure, there is no more Logic the way these votes work. There's no one who can look on paper at anything that Boeing has delivered in the last decade and said this is cool. Like it not there's no analysis that that supports this. Well there's no thinking that supports our data definitely doesn't support it and I would have voted out the entire board. They're basically all Connected to one another. And somehow. This is a guy who this is the ultimate fail up he just got 45 million dollars, plus a 40% pay raise to fail and like the failure let's not forget where the story started. This story did not start with like a toned death marketing campaign that they had to apologize for. Right, the started with the crap, the crashing, two two Jets 2737 Max crashes. Almost 400 deaths. I mean, this is not, this is not a story for the faint-hearted. I I thought if there was ever a case Where I actually was hoping it would happen at Norfolk Southern but I thought there's ever a moment where us investors would get their priority straight and get their heads out of their asses and realize that CEOs do not need to be on the boards that provide oversight of the cells. I thought this was the instance, right? He's already leaving the company retiring so it is leaving. So you're not gonna offend him so much that he's not gonna still play golf with you. He's gonna play golf with you. People love golf and they're gonna, they're not gonna say no to you. But like, the the worst part about it to me is, if there was someone sitting where the door, plug came out like there was that seat was empty on that flight. If there was someone sitting in that seat who got sucked out of the airplane, then he might have gotten voted out, is that what it takes? You literally need someone to get sucked out of a plane because of poor safety in order to vote against them. And it's not just Him. You have a board full of people who have been there and have not overseen. This, you have an executive team wasn't overseen. This and you know where this is going next, which is a female CEO to clean up his shit. That's exactly where it's going, not forget in the meantime, two whistleblowers are dead, which is a, just a mystery, Beyond a mystery on this one. And on top of that, yeah, I try to bring that up on top of that. The union unions are coming in to educate workers about whistleblowing, because the whistle bars are complaining that they're getting punished by Boeing for coming out. So, for whistleblowing, this is the background going on while Calhoun remains in power and gets to leave when he feels like it, and he's getting a raise. So, the whole, I mean, forget, we're not asking for like, a moral vote here. There is literally zero justification for this vote and yet, and yes, that means that there's not a single. All right? Well, sir, and the investment University is doing due diligence. I was an AI is coming for you. I was Say it again, the last person that could have helped open AI has left. What do you look? I I would vote for open AI but they're not publicly traded. I really want to vote for Too Many Dicks but you two were boring losers so I don't know if I have a choice here. I guess I have to That's right, just say it, you know, they're both, they're both compelling, they're both compelling board stories. I mean, the open AI board stories is really one of the most instructive that we've come across, right? I mean, it, it speaks to what we do here is the spelling, but it speaks to what we do here is being incredibly important, right? Because Beyond normal ideas of diversity, which I'm also, you know, which all so important. Having like women on the board people of color That I was thinking of the woman that Matt that you pointed out, who was AI ethicist. Is this is like a, it's a skills crisis. I don't know what you call it right. It's like that is true, right? I mean there is, there is absolutely no grounds to fire a person like that but anyway, I don't I don't really know how to vote just vote for Boeing. Yeah. So let's move on. I don't want to talk about correct win. Let's just move on. All right. Well, let me try. Guys, just remember if you feel neutral about this, that's a positive. Well, that's not a positive. All right, here we go. Different Sam. Sam's Club and announces. It will stop checking receipts and start using AI at Exit. Wait, that's good on Earth. Is this good? Oh, wait. Wait, neutral first of all, I've never been this. I've never been to a Sam's Club or a box. One of those things in my life is so you know every time. So you have to never been to Costco so every time you leave, they look at everything. Everything in your car, everything. Oh they I you're receiving are your race. They either way you're dressed. They are your hair length. I am anybody over. So I don't know. Okay. You haven't been to Costco in a while the line backs up. You're just you're already paid. You're trying to get. You have to wait in line. Why is this good or yeah. Because now you can just walk out and it's crazy to a guy who's never been to a Sam's Club, or Costco. So why don't I care? I don't care. Well, you care about standing in lines to pay for your stuff. I live in Maine. Nobody lives in Maine. So what do I don't know. Are you happy to hear that a tools being? Used for a way that's not destroying. I just can't I don't care to the AI to automatically stop every black person. Yes, gonna say is it? Are we seven are looking at The people, it's looking sure are seven months away from that. AI, arresting someone for something for like, you know, but you can't bring me down. That's a terrible one, terrible. This is the most of the week ever, what else? All right. Keep going. 42% of shareholders, vote against black Rocky. I can apply. All right, that's okay. Now, what was the reason, the reason given by ISS to advise, vote voting against is because Larry thinks Pay was higher than the median but then they all stopped it so that they should be recommending votes against. I was happy issu suck at your job. How funny is that? That's right. No, it's good list about it. Is that is that comedy gold? That it like they would have to say, vote against half of? They know that right? I make a play. I want to make a plate or listener, Steve or jeudy or whatever, or listeners name is Sigrid. If you're contract with ISS and have any doubts, put it all in our hands, we were, we will, yeah, you're voting for you. And you know what, I promised you right here that it what whatever? Price that we give you, it's gonna be lower than what. Okay, and we will give you reasons for every vote that you can tell your clients that don't involve the word perhaps, or maybe. Okay. Voted. And that's what we know. Okay. Well 482% of them. Did, you're right? Not a major. Yeah, you're right. Across the three. I'm sorry. Yeah. And then I found out. Why is it? I love it. So here we are. And lastly, I know this will make everybody happy. Smartphones can now last seven years. What are you talking? What does that even mean? What is that? Oh you don't know this? Tell me, tell me know. Oh you know that your smartphone had an expiration date, right? Like I suppose Auto infamously, the expiration date is that Verizon kind of forces me to get a new one because the new ones free Sure. Not just a phone carriers, but the phone makers. Google, Android iPhone. They only really lasts three years or they used to only last three years because they would then send updates that your phone could no longer update. You stop working and you have to get a new one but because of it FTC and right to repair laws This is no longer going to happen and now, you can have your phone for sale years. Let me ask you. This will wurtle still work? Is the world gonna work when I wake up? No, okay, then I wouldn't have but now that this is great. This is wonderful. Thank you. That's good. All right. This this not a great week for you are. Here's your three options. Sam's Clubs. I don't want your bags. I need a Smurf phone. I yeah. Do you have one? I know you do? Yeah, I do, I wouldn't text you. If you alone we text on slack, we don't even text on phone, says more than median. Pay is now vote again and smartphones. Actually last terrible, Matt. I know I'm saying right now, whatever you vote for, I'm just gonna say I'm gonna pair it because I don't care. So, you know, I'm slightly Torn Between the phones lasting. Oh, stop it. And And ISS, well, I would only paralyze you love that demon. I do like that. Yeah, I like that. I would only vote for the ISS, one for the comedy. Come on. That's, I mean, like, that is the most ridiculous reason I've ever heard. So I would like to go with that. Guys. What are we gonna say, guys? What are we gonna say? I don't know. Well, let's check to see if it's higher. I mean, what is? Okay, that's it. That's the reason we know that we can't vote for him because he said all that stuff about ESG Once Upon a Time. So we can't vote for him. We'll look like homers. You gotta vote against him? Does anybody have a reason? Oh, glass. Lewis already said that. So, Paul in the back, yeah, he ate a lot of donuts this year. No, that's not gonna work. I can't write that in my paper. This is so fucking stupid. By the way. Black. What's taking you so long? It's been two days since the meeting. You can't put out your results. I I'm like I'm refreshing. My SCC. Come on. All right. That's your boat. This stuff is your boat? That's my vote. Okay. I agree. All right, it brings us to me. Oh. If it wasn't. Uplifting already. I hope there's a lot of Sam's Club stories. Here's the data, for number one, number of employees laid off was 450, okay. The average wage of those employees according to ZipRecruiter, was estimated around 16.44% more so 18.2. Million dollars, 18 Topps, 20 ml tops, 20 mil, we're Meanwhile, extra CEO pay. This just this year, extra million extra CEO says the raise of the radio. Got a raise of 10 million. Nice right. Here's the headline, Fallout from Alaska. Airlines blowout continues is key Boeing supplier is laying off 450 workers because production has slowed, so criminal. So what's happened is Dave, Calhoun got a massive raise, but the supplier who they're blaming everything on not bowing, had to lay off 4540 to save money because production is slowed because Boeing can't get its act together. Meanwhile, Dave Calhoun this this other headline, Dave Calhoun needs the next Boeing CEO to be a success and he has more than 45 million riding on it. If the share price Rises 37%, he gets an extra 45 million after he's gone. Great. How on Earth is that even like a thing? Like if the Price goes up after you leave. You get 40, you get paid as if you were here more than the news. Incoming CEO is like honestly paid for the year. Honestly, it's a subject that I think the corporate governance at least the corporate governance, world the issue world in America has just given up on. It's it's outrageous. Honestly like catching up. I guess you're right Ari but is out of control. Investors should be voting against every PayPal package just automatically it's out of control. And that's who my asshole is the investors again. Congratulations always get to be the asshole. Again, I'm trying to find new assholes but you keep coming. Yeah, the comp committee votes in 2023 Lin. Good was the chair 93.7% for Lynn Doty 95.2 David Joyce. 94.5. Steve mall and confirm your new chair and succession planner who spent the last few months asking customers. Who should be CEO? They voted 94.5% for him last year. The investors chose to pay Calhoun. And now the investors have doubled down and actually The Advisory vote passed to pay him. Does no one care, no one cares about anything. You guys are fucking assholes. I would care about the story, but why do you need to say 93.7%? Why can't you just say 94%? What's going on with you? Because the rounding is so inaccurate, so 20, All right, here's your number two story. Here's the data. Texas, generates 31% of its total energy. Don't you mean 31.2% or something to jail thermal? Wow, great that is amazing. 26% of all us wins power was in Texas in 2020. Is a windy State the entire country, wow. That 26% stage Texas, actually estimated. In in 2023 the total solar investment value was 22 billion dollars and it brought in 10,000 industry related jobs. Here's your headline. DeSantis signs Florida, Bill making climate change. A lesser priority and bands offshore wind turbines. Yeah, he's also isn't he restricting? The use of the term climate change, right? You can't use the term climate change. He's basically Banning renewable where, where the turtle, where can you use it just in schools or like where anywhere documentation? You can like you can do that in America. Like you can really restrict the phrase Municipal that I you know someone in like the department of the environment and Florida is going to be writing like significant alterations to environmental conditions in state, where is most void the term? Whereas musk musk should be angry about. He's a free speaker, right? He should be playing this round table is, this is crazy. I mean, this is bad for business for everything, that's the crazy part. If you're complaint comparing to Santa's in Florida to Texas, which are the two hubs of the anti, G Pro fossil fuel movements. Texas is making a tremendous amount of money on this Florida. Be like Texas. Matt, this has been my argument forever right in this in this realm in this sphere is that instead of whining like Darren Woods, does constantly just make some money off. This is America, this is so there's so much money. There's so much of the US population that is desperate for alternative fuel sources, just make money off of us. And here's added bonus. You'll never get voted off the board and your parents you're going off, rails. How dare you? All right. Number three asshole. 73.2% of America by two people. Okay, there's your point, too. I didn't, I just added the numbers 15.5 billion of Share value held by two people. Wow, okay. Here's the headline, Spotify used this one word to justify. 50% cut and royalties music Creator lawsuit. Alleges write the word was bundled. So in 2018 artists there was a there was a digital artist. Something act that basically said that you know, they have to get paid. If you're an artist you have to get paid on these platforms and that was part of the whole idea. You know, except what they left out of that act was bundled services so if the services are bundled you only get a portion of the bundle that's related to you. So what's happened here is Spotify is premium subscription which is like they have other subscriptions for books and things like that. On top what they've done, what they've done is they've created where was premium and you get to listen to all their albums with no ads in it. They've now bundled quote unquote with 15 hours of audio, books, a month. And by doing that because it's part of the bundle. They are saying your piece of that most stop it. Stop because it's now aware. Yeah. And that to justify a fit. Where is this lawsuit? Being? Where is this lawsuit being where? What jurisdiction? I don't know what the jurisdiction is here, but I do know I did some populist math because I was Damian likes it so much. I love it, I love it. So, Daniel Eck and Martin Lawrence in. That's the 70% of voting power. So stop saying Spotify, it's Daniel Eck, and Martin Lauren. Is it really both you human? Is it, is it really like a both of them equally act, on something, like 35% and that's pretty or 45% and it's, it's close enough, is Lauren still isn't executive at the company. Still don't know. It's the CEO. So really has a side, okay? second, if echin Lorenzen were the musicians that they're currently pillaging, Based on the 1500 valuation of their shares, they would need 3.1 trillion streams on their own platform to get paid that much. Wow, I did the populists math, the number one stream song on the entire Spotify is blinding Lights by The Weeknd. All right? And it was only stream 4 billion times. In fact, the total of the top 100 songs. Streamed on Spotify is only 233 billion streams which means in the equivalent worth of 13 times. The top 100 songs on Earth and 13 times the the 66 biggest artists on Earth according to Spotify. Wow, now let me ask you something. Yeah, are those two morons worth nearly that much like the mission. Got 20 million dollars for blinding lights. According to what the rough royalties are, which is 0.003 cents per stream at the low end and 005 cents for stream at the high end. They made roughly 20 million dollars on that song and that song was released in what 2019. So, it's been out for five years and they got 20 million dollars over the course of five years. And they are cutting that royalty in half, didn't Taylor Swift. Try Honestly, like I might have to go cancel. I use Spotify, I might have to cancel my Spotify. I don't know what is there is an alternative. It doesn't also have onerous ownership. It's the best one for loyalties is titled and how do they justify this? Because it does take that much. They justify with greed Ari. Ah, right. I mean there's any other justification, it's just a bigger. So those are three options. That's sad. You've got between title owned by artists. I don't remember is that that's not the one that Jay-Z started. Know that's I don't know. Um you're right. You're assholes are investors again. Every fucking week title is majority owned by block so it's a Jack Dorsey, Jack Dorsey. Oh fun, we can pay that guy. I love this. This world is not yeah, DeSantis in Florida. Outline basically wind turbines and everything and Spotify suing basically cutting their artists pack. Wow, I got a question about the wind power. The alternative Energy. Is that who's the asshole? Their DeSantis of Florida? Yeah. Or Florida's? Yeah. Okay. All right. Yeah, Texas is. I like I'm celebrating Texas which I would never ever do, probably. Yeah. What's your what's your vote are? I'm so bothered by this bundle thing that bundling is already cut their meager royalties by more. But I mean I don't know what investors can say about Dave Cohen that yeah they are the assholes this week. Who is really the best. There's a Boeing. You know what, I'm gonna make it fun for Matt. I don't think that that Daniel EK and Martin Lawrence get enough attention on them. I don't think that the dictator's behind many of the, the most famous Brands and apps, that we rely on daily. Get nearly enough attention so I can agree that those two are giant assholes. So I'm gonna well, you're wrong because it is the investors no fucking worse thing than what they're doing, right? You know, thank you. It's easy to look the other way just because what at the end of the year, we get our wraped. Like, you know, yeah. You were priorities people. I think money out of the artist hands that you'd have no app without the artists I mean without their creativity of nothing, all right? Cheer me up. Who's got one? I got one. I'll go first. Mine is a, mine made me giggle. Okay, um, here's the headline. Obviously job board indeed is laying off 8% of its staff. It was that funny because it's like they're I just imagine them immediately going to indeed to look for jobs circular like I would love it if they then announced that we had 10,000 new users or whatever to indeed. Is buying ads on Elon musk's X to get Elon, musk's 55 billion and it's just the three-time use of. Yeah, that's great. And there's some new ones here that's important. First of all, Tesla famously does not pay for advertising, right? They don't pay for marketing. Second of all Tesla, the board, they're making a decision, they're buying ads on a, on a platform that is owned by their CEO. I mean interest, you know what I mean? I it's just crazy. Mine actually, is also Tesla related. This is a article from the futurist futurism.com, based on a local article, actually that I sent around to the office earlier this week. And here's the headline Mane, Mane Mane, meaning of like, from the state of Maine, Maine man alarmed when everybody mocks his cyber truck, flips him off. So the story, the story For trucks owned in the state of Maine. And this guy just gets constant abuse people spit on it. They scratch it. They give them the middle finger. The thumbs down. I just constant abuse, but that's the story. Yeah, I love people. Don't mess around in Maine. No, no, we're good. Knowing that doesn't suffer fools. We don't like we don't like cyber trucks and Elon musks up here in New England. This one's hard. But I think the best headline pure headline here is Elon musk's Tesla is buying ads on Elias. That's the actual headline are yes, a copy paste. Is that Business Insider? I don't know but that's a great great. Yeah using the triple is great yeah that's that. Someone was paying attention and 11th grade English that's that's great. Great repetition there. All right winners this week winners and losers. No no losers. Should do losers. I like losers. Everybody's a loser. Yeah, first, yeah, go ahead. I'm gonna go with Netflix because of this headline, Netflix and the NFL signed a three-season deal. Netflix has finally broken into the live sports world and they starting out with the NFL and I mean they're just not gonna undo this. Do you know that it was only a few years ago that the NFL was the last remaining, you know, major sports. Yeah. Franchise that you could watch the games for free with your rabbit ears, right? Like with your yeah, even the modern TVs, you can hook up a five dollar antenna and you can watch beautiful hd, you know, Live Events. They are probably now spread onto 17 different horrible streaming platforms, right? Like, it's just a joke. It's a joke. I don't know. It's fine. I don't care for Netflix. I agree. I think it's true. Is he seems to be everything that looks does is a win for Netflix. They just always get it right. I mean Netflix is one share, one vote, right? He tasting is basically controlled. Most of them, he controls most of the shares, but I'm pretty sure. It's one share one vote and which case I have to look that up, that's to them. Like it's, it's, you know, so much shares. The one share, one vote. All right, Damien, what's yours? Mine's simple. Elf Beauty, the Too Many Dicks campaign. I love it. I love is a good campaign, and, and we did follow up on that campaign with dick powered board. If you miss that you're listening is Funny Too Many Dicks. Yeah, did Dick powered boards and the dick powered, a female power ratio was was on that. Um, my winner is actually bowing quality control, wait here. So we had friend of the show winner, I think, um, go to the Boeing, he went to the Boeing AGM, he was listening to it and he sent me this tidbit quote Boeing. This is this is the chair speaking just Cannon. Must this is absolutely true. Canon must be every day this He's finishing his own, Canon must be every day. I think he's talking about safety and stuff. This is the end of a sentence, like an ellipses. He's going about it. While we have made progress and strengthening our control, the quality controls systems, The line went dead and on the slide. They said we're sorry. We're having technical difficulties. Could there be a better thing? Did they call in from one of their planes? It's so good. They can't even do in an AGM. Right? That's so. And they still managed to vote for the forest. So who's the winner? Oh Boeing quality control got it? Yeah, definitely going. All right, baby shows. Can we give Dave Cohen another raise? Can you give him a double? Raise know. He's laser focused on the Texas right now. I thought that was a joke man. I can't believe that's all that is real. That is a screw. We got a screenshot and Doug's shop showing the show that says we apologize. Apologize for our technical differs on LinkedIn later. That's it. Unbelievable. All right, well, I do have a prediction and it is also about Netflix because Damien you said that you know, Netflix is just winning at everything they do except for the Tom Brady roast which oh no, I did watch and I predict that they will never host. Why I thought it seemed I I don't I didn't finish it. It seemed like a successful event know so much better if it was edited like you can't trust a lot of events go in there. Yeah it was I thought that's what was cool about it is that they actually awkward cringy moments that a nice roast like they'd be like Central. I mean all of grunk that's what you mean. I don't know. Agree with, you know, I don't think I agree. Damien what's your prediction dick? Walford the director El Beauty steps down from Elf board because doesn't he almost have to I mean I think he step down this year and it's not much of prediction, he's already, he's 79 years old. I think right? He he doesn't have to I think actually the prediction is Dick Walford changes his name to what to not dick. Whatever. Whatever his middle name is with something else. No, I think the prediction is that he has not seen this campaign. Yeah, maybe he did. Yeah, that's all right. Here's my prediction. Dave, Calhoun is reelected to the board as a boomerang in 2025, to oversee the new ladies CEO, they end up really set up to fail. That's not out of the question he met because I think you're tired and they leave on his own. He's leaving on his own volition. So it wouldn't surprise me if the pick fails if they're succession, plan fails. He's got 45 million at stake. He's definitely gonna want to be there to make sure he gets that. All right, that's all we got. That's hazelnut rollers at mascardi. I'm exhausted. I'm gonna go home and take a nap, like today, exhausted. Me we are free float. If you didn't catch our shows this week, we had one on Tuesday where we talked about the Too Many Dicks campaign. We had proxy countdown yesterday, where we gave proxy recommendations for the upcoming agms at Exxon, Chevron and shell along with the entire oil and gas sector and rolled out. Knowledge Maps which yeah nobody has about directors. So ask us about those otherwise we'll be back next week until then goodbye.