Transcript
Yeah. Oh let's hate do this. I'll do it. I don't feel any hate. I'm full live. From a Thanksgiving shaped Tech, bro. Kabuki theater masks. It's the ESG Industries. Only weakly woke data podcast featuring analyst Hall. Matt mascara. Yeah. Sound like it's a horse and today's ESG pre stomach ache called November 22nd 2023. A Tech Pro victory at open Ai and some billionaire CEO awesomeness. Yeah. Oh, That's so that's your priest. Stomach ache. That sounds like the stomach ache. Our show today is being sponsored by really nobody. It's an open slot. Are taking a pause, so it's always make it sound like everyone analytics. Today's Show, I'm trying to entice future sponsors. Yeah, nothing says enticement. Like nobody wants to sponsor this slot. So come on for the final time. I want to plug Allison. Taylor's book, Alison Taylor joined our show a few weeks back. I'm gonna plug her book one more time. It's called Higher Ground. How business can do the right thing in a turbulent world. That's nice. Was that just written into the copy from a copy paste? Or is that like an effort? You ready to do the show? I don't like it. I don't like what you're saying. You ready? All that said, go get the book is a good book first, a headline then, a quick wrap-up quick recap. Larry Summers and Brett Taylor are joining, open ai's board. A Sam Altman returns and CEO quick recap. If you're not incredibly nerdy and loser is like us, okay, Friday? Open AI board, fire Sam Altman. No longer had, they said they no longer had confidence in his ability to continue leading open AI. They tapped CTO, mirror Marathi to be the interim CEO, she lasted a couple of hours, maybe it's like 2036 36 ish, then they appointed twitch co-founder Emmett Shear as the new, in terms CEO and here we are. Today, Sam Altman is back and just another recap because I, the entire business news world gets this wrong because they, they all think that the board did something. Foolish or wrong? Yeah, but I want to remind everyone, what does the original dispute was why they got rid of Sam Altman. The just there's a dispute between Sam Altman and co-founder Ilya says cover who is the chief scientist officer also on the board about the future direction of the company Altman has reportedly been criticized by some within the company for trying to push the companies development of AI Tech to quickly. Yeah. Specifically know programs specifically a push to achieve artificial, general intelligence called AGI which is an AI that can learn to accomplish any intellectual task that human beings can perform. Ilya sutzkever was leading open ai's, Super alignment team which was created to stop AI from going rogue and ignoring human orders. And it's perhaps telling that the interim CEO from twitch, Emmett Shearer was also a vocal advocate for cautious, AI development. So Matt, wait, this none of this was a mistake. None of that. None of this was just happened at a bar. One night. There was an actual reason why the board did the right thing in fired Sam. But wait a minute, here's the Gap. The Gap is so you have every Tech bro, CEO in the universe signed a letter saying we're worried about AI, Sam Allman himself walking around and we have covered on this show. At least, it doesn't times has gone around in a very hand-wringing pose. Yeah. Saying we're really worried very, sheepishly very charmingly, saying, we're worried that the tech that we're creating, might destroy, destroy Humanity, even Elon Musk in an earnings call had to say that, what they, what they plan on building all these robot like a like assistant manufacturing whatever's. They, they had to say, we have to have a hard-coded off switch to avoid them. Basically going rogue like Terminator said, it in an earnings call. Okay, so and all of them are are speaking afraid, afraid? And I want one more, reminder, and to say something good about Elon Musk, it was the fear of power of It was a fear of the power of AI, which is part of the reason why they co-founded openai, the startup began as a non-profit. Yeah. With the mission of building safe and Powerful AI, that would benefit all of humanity. This is one of the reasons why Elon Musk left because he disagreed with the direction of the company. And part of the reason why the board did the right thing, getting rid of a Sam Altman was that since taking the helmets, CEO, four years ago. Altman has transformed a open AI into a leader in AI Innovation, with over 13 billion dollars in funding from Microsoft alone. How, how does that support the mission? I tell you, it does not forget forget like so also this is not a show where you're ever going to hear us like sing the Praises of Elon Musk. I just like it's really hard to see the praise of an anti-semite analyst I just buy them but it's true that he had the foresight to say this could be destructive and Needs a governance system that prevents it from being destructive. So create that governance system, in fact, musk reportedly left because they wanted to go more for profit and as soon as he left they set up this weird for-profit shell company owned by the non-profit so they could raise money led by Sam Smith, led by Sam Altman. All of them are talking about how desperately afraid they are. That AI will destroy Humanity. But this is the moment where we can say at a minimum three board members in the entire Tech, bro, AI Community stood up, and actually did something for know therefore, accept. We know that the fourth is a holdover and still on the board. Okay, fine. With the tech road. I don't care about that. That's you call it? You're talking about course, you know, Adam D'Angelo. Yeah. But that means he is back on board to say Altman, turning this into a for-profit company effect. Well the according to reporting the reason why he's the whole over is he is he he's the only one giving the previous Sports from representation. He might be the lone voicemail. That is the has any kind of caution in the rooms him. I'm gonna what what I think is there are two people on the board worth actually because there are two people, the only two women on the board stood up and Said, this is not. Okay, that's Helen. Toner and Tasha McCauley, you are all talking about how AI can destroy Humanity. We are doing studies about how AI can destroy Humanity. We know, there are tremendous risks to developing this technology. We need to do it safely, Helen toner, director at Georgetown Center for security and emerging Technologies. And here you are pushing it as a product and bringing as much money in as possible, and talking about chat, gpt-4 turbo and all them. Like, we're monetizing it faster than we should be the right thing to. And we know these conversations didn't happen after four seconds of thought like that. I'm sure they happen after months of, we need to slow down, we need to think of this through. They're the only ones who stood up and said we're not just afraid of this. We are going to do something about it, by removing the CEO, who is actively pushing against the mission of the non-profit that this was founded on. Like, the principles that this organization was founded on was Ai and safety. And if you're going to push past the safety and just go for the AI, you cannot be the CEO of this company, and they're the ones who are gone. And here's what, here's the important thing, because here's what the business news and the rest of the world is reporting. This is one is out of Business. Insider, John Bates, a British Tech entrepreneur, former fellow at Cambridge University says that the Open AI board, behaved like a bunch of kids know, but really like, but this is this is the language used often to to represent the work of the women like you were talking about, right like that. They're somehow acting like juvenile delinquents also Yahoo's, former CEO Marissa Mayer said that the board members were broken and under advised that's fun. Coming from Marissa Mayer. There is no proof of any of these opinion about that board and I will disagree with you slightly. Matt, I think all four four board members stepped up, not only Helen toner and Tasha McCauley, but also the whole over Adam D'Angelo, and of course, Ilya so that's give her. Who was the one who was, is building the forces at opening? I to prevent the discretion of doesn't matter if you stand up and then immediately back down, okay? Immediately, we're talking about 72 hours of gum by They did the right thing. Probably in the first case. You're right. But immediately a reversing course and not just reversing course, they are stepping down. Well, no order to make room for who. Well, there was a okay. Here's okay, let's talk about this part of the story ostensibly. This might be a victory for stakeholders, let's call it. Because one of the reasons why this might have happened is because there are reports that 95% of open AI employees. I think Verge said that 747 out of 770, open AI employees, Basically threatened to leave. If they did not fire the board and bring back Sam Altman. So, Without that kind of power behind them. I don't know that this would have happened and one of the reasons why and this gets us back to, you know, the tech bro, fantasy world that we live in, is it? This is why combinator co-founder Paul Graham said this about Sam Altman. You could parachute him into an Island full of cannibals and come back in five years and he'd be the king. So again, this is all is all charm offensive. This is all about just a Charming Tech, bro. Just leading the Sheep. Doesn't matter that the company veered off its path. Veered off, its nonprofit path. Beard off its path to prevent AI from destroy Community, all that matters was at the room, loved Sam Altman and of course all the investors decided into Dollars. The Peter teals the, the Thrive Capital, One of the investors and open AI. That is run, that is founded in run by Josh by Jared kushner's brother, Joshua, Kushner, they all love Sam Altman. That's what's important? Oh, thank God. Well, look, I want to talk to the 5% of employees that actually didn't sign a letter demanding for us resign and and that that the that that of all. People Brett Taylor get added to the board. I want to talk to the five percent. Yeah. Because that 5% might be the only 5% that recognized the actual mission of the company that they joined. Yes, like that. That once you're right once that the stakeholders involved, actually didn't understand the mission, either, they had too much personal incentives. In fact, they were they know there's millions of dollars to be made here, individually for each of them. I'm sure they want to be a part of the AI Revolution. They may totally believe in the founder. Fetish that is Sam Altman. They may want to lick his Foundry feet. I don't really care. That wasn't what it was designed to do. It isn't fact. It was the exact opposite of exact opposite of that. They were warning against authoritarian, rule by Tech Bros, who just are just playing with the world to make money. I mean, again, Elon musk's credit as an authoritarian figure an authoritarian Tech bro. What credit. Yeah. He had the foresight to say we cannot have ai be run in an authoritarian manner. It is way too dangerous purely for yeah. And the outcome of this, which we're going to get to the new board. You know, is our deep slide into authoritarianism, we don't care, we fetishize and it's over. It's not about governance. You we were, we reported here all the time. If you've been listening to our show which you should be. It should be required honestly our show. Yeah, it we know we were quoted school, I feel like, you know, we don't plug enough. Is that some some entity on the internet? Voted us top 10 best business, right? If it's so great that I don't remember their name. One of the best. The best part about it is that we came in just under the California, okay? Stop business, stop, don't ruin it. If you've been listening to our show, you know that what we've been covering over and over and over is the rise and the rule of authority tearing figures. We focus on the ones in the corporate world. The people that we call like the Mark Zuckerberg's, the Elon Musk, the people that control their boards and companies either through some kind of weird dude, class share system or just by shoving the board with their idiotic Brothers. But also, we've all been reporting here that many countries themselves are turning to our authoritarian rule. It recently happened in Italy, it just happened in Argentina, a couple of days ago. What's happening? Of course, in the US with Trump and the most conservative regime ever in New Zealand. It's like, we're seeing it everywhere. So, yeah. So let's get to the new board. The new initial board that we know of, as of today, I think you pointed out some of these names are ready. Matt, Brett Taylor. He is going to be the chair. Oh, dare you. He is a new chair of the board, Larry Summers and Adam D'Angelo I'll let you talk about all three of these people individually, but as far as we know, now these three new directors, their first task is to build The eventual Board of nine, people. We don't know if Sam Altman is going to be on the board. We don't know that people from Microsoft will be on this board, but we can assume that that will be true in both cases, but this is what we're starting with. Yeah, Brett, Taylor was actually named in the employee letter, right? Like the demand letter. Yeah, we laugh about that Monday, we don't know why. But anybody know, why? Brett Taylor? Well, okay, Matt, you I think we know why, Matt? You did a quick analysis, a quick, facial analysis. This morning. I didn't do that. And I also pulled a picture from of all places. Twitter of Greg Brockman, who was a board member who was fired on Friday and he stepped down, but now of course, he'll be back. We don't know what role Greg Brockman posted a photo on Twitter and all it said is we are so back with a picture of the open, AI staff and what stands out about, all these people met to you and what about in your facial analysis? So in in my rudimentary facial analysis and if you don't follow us on LinkedIn, follow like, reach out to me on LinkedIn, follow free float on LinkedIn because I put this there too. Uh, when you actually bald or semi bald? Yeah. Sam Altman. Like just just so close your eyes. You can picture Sam Alton sort of pouty face pretend he's a little bit Bolder like he's just he's mostly gone. And then you put him next to a picture of Brett Taylor and Larry Summers, who's the other board member who just joined, they are literally identical human beings and you like watching aging happen, and it is, and if you open this picture from Greg Brockman, the three, most visible faces. I see are white, balding, men. And, and not to mention that by, there are some people of color in the audience behind in the staff behind him, but by far and large, it looks like it's 95% male. So now we have a company. That was set up to avoid Tech, bro, with authoritarianism controlling AI. By governance by mandate by the structure in the Mandate of the company. It's not as a nonprofit that has replaced the two women on the board who did their jobs and slowing or stopping the authoritarian rise and product. Rise of AI to put on guard rails and and the man who was desperately fighting within the company to prevent it too. They've been but only the women have been replaced. The man Noelia is Ilya the company. Well Ilias okay. He's not not in the new board though. That's so he's not in the new board, but he's at the company. Yeah. Now the board is four people. Who when you put their pictures together? Three people three people tell ya. You wouldn't be able to tell the difference between any one of them. They literally are the same price. It's a una person. Let's talk about the new board members. Brett Taylor. He was the chair. Okay, this is how bad Brett Taylor is, this is why the audience probably boot. I know some of the people in the audience today. So, I'm guessing the reason why they boot probably write teller was the chair of Twitter, leading up to the sale to Elon Musk. So she was the one smoking, a big fat cigar as he handed over the reins to one of the most powerful social media Outlets to a petulant anti-semitic brat. So that's Brad Taylor's like credit what he did was represent shareholders incredibly well, What he didn't stick his represent Humanity at all, which is the key issue. Shoe. Yes exactly. That was the governance structure. So, Brett Taylor. Excellent job at Twitter selling it for incredibly more valuable you. You could have gotten died for years because of your sales, Twitter, I'm convinced of Buddy. Everybody is happy with the money. They got from Twitter except for the fact that now it is an anti-semitic platform. That basically is one person's Ego. And Is the worst thing for Humanity. So can we expect that they eradicate the governance structure, which is what everybody all the quotes. All the Press seems to be around, we need to get rid of the stupid governance structures is the expectation. Now we bring in Larry Summers and Brett Taylor to help blow up. This this quote, unquote, ridiculous structure, and which humanity is put place. First, let's talk about Larry Summer's Larry Summer's is currently on the board of Jack dorsey's block. And a company called and a company called skillsoft, who will Larry Summers is, is he was influential in the deregulation of the US Financial system, including the repeal, the glass, steagle act. Basically the architect of the two big to fail movement. Is that fair to say? I would say that was the beginning. Yeah. And here's a quote about that wall Street's Mega Banks want to remain too big to fail because that means they get big bonuses and good times and get taxpayers to bail them out in bad times. So that's kind of done nicely done this, how about? Because you're focusing on Tech bro. Isn't we're focusing on all these men looking alike. How about this article I found in the guardian? This is from 2006 about Larry Summers called why women are poor at science? Oh, tell me. So there was a huge. This led to so, Larry Summers was part of the Obama Administration as part of the Clinton Administration first and then the Obama Mission what led to him stepping down in the Obama Administration, we think is this this speech? He gave arguing that men, outperform women in math and science because of biological difference and that discrimination is no longer a career for female academics. He offered three explanations for the shortage of women is senior posts and Science and Engineering, starting with their reluctance to work long hours because because of childcare responsibilities, he went on to argue that boys outperformed girls on high school science and math scores because of genetic difference. He also played down the impact of sex bias and appointments to academic institutions saying, the real issue is, the overall size of the pool. And it's less clear how much the size of the pool was held down by discrimination. So, this is the man, this is the Great choice. No, I mean no not only did. He is perfect. Not only the architect potentially regulation. One of the key factors that lets the financial collapse in 2008. Also led to run away bonuses and Equity, you know, Equity packages to CEOs, but he also is maybe the grandfather of this weird anti Dei movement. That is obsessed with this notion that that the reason why that we have so many white men is because they're better. That's what we're just better. Which you heard here when Vivic said it right and had to backtrack when we pointed out the opposite. I mean, right? Really just shocking. And I look yeah, go ahead. I I can't I can't get over this because it basically This is dorsey's friends and this is like this is a repeat of everything we know. And in fact, the only notes we that I wrote down from pre-production this morning. Yeah. Were these three notes? The three these three takeaways number. One we absolutely hate women who take any stand, the only two people who are like the holy, YES, Movement, basically. Yeah, the scapegoats in this whole thing are Helen toner and Tasha McCauley. There's nobody else who's like they're the petulant child board, right Ilyas. Still at the company, the D'Angelo still on the board and they add these other two people Altman's. Now back. So, whose fault was it. Now, we're basically saying that we can, we can forgive our Tech Pro, Brethren Ilya, and, and, and D'Angelo, but because they're both in the fold but we cannot forgive the two women who stood up and said I wait our job is something. Not this, right? We have to do our job. So the this is very clearly. Number one, we really don't like women in this bowl. Yeah. Not only do we, not only do we not like oversight in general, but specifically, we hate women because you're to your point, all four directors did the right thing, but the only two who are still with the company. Are the two men. Exactly. So Dei, this is, this is a shot across the bow of anything Dei related, because if you are not in the main cohort, if you are not the fist prompting Tech, bro, the chance is that anyone wants to hear your opinion for real is almost zero. Well, that is the message that I hear. Like, when you do the job, right? When you do the job and everyone, and I mean, everyone, every media Outlet, every Tech, Silicon Valley person, everyone everywhere, including like our like pivot. Um, Kara swisher and Scott Galloway. They're talking about like, how this board is Functional and stupid everyone is piling on. Yeah, however the only ones you there. But oh, how are we, the only ones in the right side of history on this one? I don't I, and what way I'm sorry, but especially for the Charis wishers in The Gallows and, and what way did they make the wrong move here? That's number two. Yeah, everyone hates good governance. Good governance. That seems a good important. Take good governance. Yes. This is what good governance. Does it avoids fuck ups to humanity? That's what good governance does. Well, you know, governance? Well, you avoid the worst outcomes. You can't say like, okay, I'm gonna put this person on my board, I'm gonna outperform. That's not generally how it works, it might but that's not how it works. The job of these boards and these governance structures is to avoid you doing horrible things. Yeah. So measuring governance is usually things. Avoided which means is really hard to measure what those two women did was In the avoidance of horrible stuff. That's exactly what they did. That's always. But that's always the role of women in our society. And we, that's why they're not giving power. We absolutely love it and we see it in free flow analytics data. That's why uniformly across the world. Women have less influence than they have body count because we do not want anybody to say avoid doing like the big crazy boy Vision. You know what? Hey, Mommy telling us. We can't I'm glad I'm glad you brought up Mommy because in bear with me with this analogy, but in some ways to me, they represent atheists, right? Because what the world has always needed because of this incredible fear of our own mortality, right? Is we need a dad in the sky. We need a we, since we've been no. But really, since we've been alive mommy's, but since we've been alive, we've turned to God. Because we're afraid that we're afraid constantly of everything, we're but first A form of dying, right? So of course, we gravitate towards these figures that make us feel good, make us feel safe. And I don't know how this is different, the the two atheists in the women, the two, the two mothers as you call them. Basically said, you know, this daddy is going to destroy us. We have to get rid of them and everybody revolted, everybody's their mind. We need to punish and God. We need the horrible dictator Trump to yell at us and to tell massages of jokes, we need these things to feel safe because we are afraid of being alone in this vast world, right? The third takeaway, I have here is that Tech, bro? Outweighs intellectual every single time you people want to buy the dream. They don't want to buy the reality. Nobody wants to scientists in Ilya. Who sang? I'm measuring stuff. It's not like looking good. We need to do the right thing. Everybody wants to one who can come in and be like I'm going. To fucking Mars. I am building AI to replace humans at everything. That's terrible. And Matt, this is why to buy the dream. Yeah, never the reality. This is not the reality. This is why Elon Musk calls ESG satanic, right? And exactly. Refers to its evil because it is, is providing like a more sober intellectual academic, thought process, creating some kind of long-term guard rails over like a short-term need to like, piss on whatever you want to piss on. So those are my three takeaways from the whole story. We hate when women take stands and Dei is this is like an idea. I play, We Love governance and we hate anyone who says like, but who doesn't sell the dream, they sell reality, I beg of our audience, whether it's three people or three million people to, at least use the use this show, this might be our one of our most important shows use this Show. To further this conversation at your Thanksgiving tape, Thanksgiving dinner table. Be on the right side of history on this one. Understand what really happened to open AI. Don't fall for all the bullshit. You're reading out there, like, take this show to your dinner table, pour some gravy on it, eat it, enjoy it, whatever you gotta do. Here's the amazing thing in, are the Monday show when we reviewed? Like what now feels like 3,000 year old news over the weekend of Sam Altman and open AI you open the show talking about Elon Musk and his anti-semitic remarks and Bill Ackman the guy who's actively attacking Harvard Elite's and like kids who say stupid shit at Harvard and getting them docks because acne defended Elon Musk, he's And he's like, pro-israel, you can't say anything against it. You can't. You like, he's super angry once. Trying hard. Give her kids hard running. And then he goes to Elon Musk. And he says, oh well, that guy just shoots from the hip, right? Like, so the kids don't shoot from the hip. They're they're uneducated. I would never hire them, but Elon Musk, he shoots from the hell. We just don't understand him. That is exactly that that microcosm called this whole thing, you could have taken that and said that's what's going to happen here. We're just gonna bring the tech Rose in and I ironic or soft play in an ironic twist of fate. Bill Ackman. Also, one of the main proponents, one of the main antidepresseur at places like Harvard. So so really like part of that anti-esg movement in the first place, I don't say. And if If nothing else. The thing that I've learned is, first of all, and we all met as a collective Society have decided we loved authoritarians. We don't like women who stand up or people of color or anybody who's got power. That is in a white male. We loathe governance and we hate science like intellectuals and science. We like to buy the dream. Those things may be true, but I am more deeply entrenched and what we build a free flow analytics, that we should know the names and performance of every one of these people who run these companies. I think it's more important than ever. You know, why know how these people are connected? How they think, who's got power, what they do with it? I don't know when it's been more important than know, the two most important numbers that you stumbled on recently was that 96% of shareholder votes, support directors, 96%, right? And the other key number is that only point two percent of directors globally are Receive a Novo, right? Yeah. And here's what we've learned that there are. I don't care if you want to look the other way and you don't want to believe this. And you think we're being too aggressive? There is absolutely a protected class of of directors and CEOs in this world. And this story proves it. Because the reason why they're angry is that they see Sam Altman. They see the tech, bro, as a protected class and you and you cannot go after him. And this is what we're seeing at public company boards as well, they're they're protected. they're worse than protected because we know that like since 1926 57% of the stock market. And just contextualize this 1926 was nearly a hundred years ago 57% of stocks underperformed treasuries in this country. And in the same time, period directors. We don't have it back to 1926, but we know at least the last 10 years, directors, get voted out at a point two percent rate. So what we're saying is half of companies underperform, we love the meritocracy, we love the founder fetish, we love the Big Dreams. We love talking about how these Founders are outside personalities, but the fact is, they're actually average half of them by definition, are average and the numbers, bear it out in what you get in your stock market returns and yet we cannot for the life of us, figure out a way to vote anyone out that defines a protective. I'll tell you define it and I'll tell you part of the problems that they're so protected. That people don't even know, they don't even know. Who they are? They refer to the, they refer to the board at Walmart. They don't know. They don't care or know who these directors are. It's like they it's like they intentionally putting on blinders and I'm not just talking about normal investors, talk about people within our own ESG industry. They they're still stuck on governance from 2009, identifying whether they're male or female or how long, they're 10 years, that's it. They don't care who these people are and the and I'm gonna segue into the next story because I'm all amp down. Come on but but the, the penultimate example of that is, did you know that Warren Buffett has his child and like wife and everyone he's ever met and liked on his board? No don't care. Who's on his good segue because he's Warren Buffett. Good segue, because let's continue to focus on this like fetishization, or whatever you want to call it, warship of billionaires or worship of tech Bros or white CEOs. I don't know what you want to call this worship of authoritarian rule, right? Where we don't. Question him any longer once? They've passed a certain threshold of either being overly Charming or overly Rich. Those are the things, I guess that we know, and that's what it is. That how we and, Coming, I'm gonna say as an atheist. I'm I apologize for this. But isn't this, how basically people how they describe God? He's either overly Charming or overly Rich because he owns everything. He really, that's the same thing. All let's talk about the billion, the billionaire CEO class wants you to hate them less because before the holiday, this is the, these are the two headlines. Okay? Warren Buffett celebrating Thanksgiving with a nearly 900 million dollar gift. See how they dropped the story right before things? Giving Matt to your point. Here's where that gift is going. It's going to more Buffet family members. Yeah. Late wife and to three of his children's organizations. So he's just giving it all to the Buffett's. That's what he's doing but they now so we can never strapped. We can hit him a little bit less also Jeff Bezos. Also in this using the same PR strategy announcing his giving right before Thanksgiving Jeff Bezos fund donates 117 million dollars to support homeless Charities. Okay good. Yeah. Uh to put that number into perspective, Matt to put that 117 million dollars perspective. Yeah, since in October Bloomberg reported, that he has spent 147 million dollars in the last two months. Buying two homes in Miami. Oh, okay. So Jeff Bezos has pledged to give two billion dollars to to the homeless, you pledges in 2018 so far. He's given almost 640 million dollars at this rate, it will take him until 2033 to meet this place. Got a really fight the it's you got to find the homeless and then you gotta ask him if they want the money and it's slow going. Speaking of the billionaires, a new report by the guardian Oxfam and Stockholm, environmental Institute is calling calling something. They're calling it. The police leader Elite and they are disappointedly driving climate change. According to a new report with the wealthiest 1% of people in the world, putting out as much carbon pollution, as the poorest 2/3. There are also saying that the world's richest 1% are admitting enough carbon to cause heat-related deaths for 1.3 million people. And in the same report they said that, what just 12 billion years climate. Emissions output. 2.1 million homes. Oh, number people's homes, move. I still say it was a billionaire. We all want to be one of those 12. Let me, let me get to the end of the show. How dare you speaking staying with billionaires? Binance, CEO and founder Cheng Peng Zhao. He's known as season. Yeah, just close to sleazy, which is nice. He's a great to step down after pleading guilty to money laundering violation. So, the justice department says, it was Finding binance at least four billion dollars in penalties. And here's why the complaint alleges that CZ and binance prioritized, quote growth over compliance. So that takes us right back to the opening AI story. And finally, let me end this horrible show with some good holiday cheer. You you aw head Sean Fein has his sights on Elon Musk. Quote, the world's richest man is the richest man for a reason. They get this kind of well by exploiting other people so maybe Union battle Bring at Tesla. That might be a fun Christmas present. So she learned just something else to quash this. Come on this show. That's Damien. Raul is hazelnut Ross. I am your analysis. We are free float. The show Even though those sponsored by a lot of things we talked about, we get from free flow, analytics.com, go there for the love of everything. We are prioritizing governance overgrowth so that's how and the reason why you know that is because it's not growing super fast, so go there and help us grow faster so that we can govern better otherwise come back to us. We won't be here Thursday or Friday because the holiday in the US, come back to us next week until then bye.