Transcript
Hello. Yeah. Whoo. Live. Yeah, live. We are actually. Live from your phlegmatic ESG machine. I told you it was important to buy one of those. You thought it was a waste of company resources. Honestly, I I was an overspend. I still don't see the value. It's yeah, another manic Monday edition of business pants joined by analysts whole mattress. Yeah. oh, See if we had the ability to. play overlapping sound effects, the crowd could cheer while the Theme music was playing but I've watched my thoughts with Riverside. OH, Dare You Riverside. And today's Preferente post Colonial plant based CEO, pay ratio bag called November 6th 2023. Well filtering, the ESG news through his Giants, stupid game. That's what we're doing. Oh there's no way we always do like the same thing we do every week. Let's do it. If you want to, if you want, you know, s&p's version of this show. Go ahead, go over there. Get the three-hour interview with some managing director of some bank. I don't care. Go even want the S&P show, CDP meets Barclays. I don't know what's going on. Well, I will say this before we launch into the actual news today. We interviewed Alison Taylor the oh yeah, he's a clinical professor at NYU Stern. She is, she's in school, not Tish intelligence by Tish but Stern, the business school she was By herself, we got a hold of her book. That doesn't come out until February, a corporate intelligence agent. She sounds like a spy. We're talking to Rachel. Allen back. Is this week we're recording right? Yeah. On live from Australia. Live from Australia on Wednesday, we're gonna drop a clip from the nail podcast that we recorded last Thursday. Don't forget one day. Yeah, full thing Monday we got the Hall of Famer. Doug chalk coming back to the show. Right. Monday Doug Charles coming back. Yeah we have like a massive Oh, we went from nobody wanted to talk to us to. Now, we have so many people coming that we can't even keep up. Yeah, and we're gonna keep this going. So please if you know anyone reach out and if you want to come on the show and not Pitch, your shity product, but just have a conversation, like a normal human being, you could picture shity product. If you let me laugh at you for five minutes straight. Yeah, well, that's fine. No here. I'll rephrase. You want to come on the show and Pitch your shity product. Feel free to pay us some advertising dollars and we'll pitch for you. Well, we're perfect segue and I and apologies to John look, I'm Nick if you're listening, but our show today is being sponsored by free flow analytics, the old platform to measure. Real bored influence. See how I went from shity products. It was seamless, you know, nobody, nobody's gonna notice. But, yeah, we have a bunch of interviews coming up. This starting this week. We got a bunch little drop on Wednesdays, and Thursdays, so cute for that. Otherwise, we always have a new show coming. Don't forget, we got a new shiny, even mention it. We got a new show coming soon. We have gotten suggestions of names like, probably tell me your pants. We got the answers one of the suggestions like that. I mean, we want to be taken seriously, people just so us Centric. Because in in the UK underwear is just called pants. So. Oh, it's really. Yeah. So it's pants pants. Your underwear and trousers. So it's just gets confusing. Underpants, I don't know what. That should be the proxy britches. I want to be serious for once, can we call it like, cnbc's, the proxy show. Can we call it that? Do we have to be affiliated with cars? That's, but that show is coming up. We're gonna record the first one this week and Probably be dropping him starting next week, but we'll keep you posted otherwise. Let's do this show. Yeah. To know as part of the new shows. Yeah, I have dedicated some budget for you to find approximately one new song. I thought you say one new hoodie. Know, there's no budget for that. Just gonna keep this little ones. Okay, here we go. Now, I got a good one for you. This is the react to the ESG business news, headline game top nine headlines. You really because, you know, top 10 is stupid, we're top nine over here. Yeah, no one does top 10, and here's how it works, Matt. You just you just You, you have the utmost discretion to rate it any way you want. You can go one to 10, you can go five unicorns, you can go, you can go like ESG ratings, agency called a triple, you know, Z or whatever, whatever you want to do, right, can I do it a mixed like a West? Absolutely, absolutely double b. Absolutely. And I got, I'm starting off strong. All right, let's do this. First headline is just this is an all-time headline. I'm a little disappointed, because I sent it to our company earlier, nobody really responded. But this is, this is kind of an all-time headline. I mean, you just, he did respond. Okay. And go, she summed up our thoughts, China. And this is a real from a real news source Business Center, China boldly claims, it has a plan to mass produce Humanoid robots that can reshape the world within two years. Oh, he didn't away. Arguing about like, you know, should we kill the acronym of ESG? And what is s? Really mean. Here's what China is up to? Yeah. Podcast talking about privacy and security China. Meanwhile has an army of robots. This does sound it sounds musky and of China oh, we're getting to musk later. The good news here. Matt is this Chinese startup, 48 intelligence said it inspires to deliver thousands of robots in 2024 that can move at five kilometers an hour. So we that we can still outrun them. This is great news, right? Yes. So just keep keep trim e healthy because as of now, we can outrun these stupid humanoid robots. Get a hold of the weight loss drugs that are everywhere. Now, you're gonna need it, you're gonna need it. There's a whole new value. Yeah, fiser stock is going up because there's a whole new value to staying in shape. You are running. Novo, Nordisk, Eli, Lilly, we are heading on you actually run away from the robots. I'm curious how you can rate this map but I want to repeat that. I'm not kidding. This is actually This is news out of the China's Ministry of Industry, industry and information technology. They published a massive roadmap of its future plans and unlike Elon musco your reference to, they might actually build what they say they're going to build. Well, yeah. Maybe I do think I, well, I think I'm, I am waiting for. So I love this story because it's terrifyingly terrible, right? I'm gonna give this a nine out of 17. All right. Wait oh okay no, no nine out of 11, out of seven. I'm wondering when we get the first report from Mark Zuckerberg that says, you see China did steal all our technology and that's what they're using to. I gotta tell you annoyed robots, I'm glad you mentioned marks. I didn't have a way of getting the story in because it wasn't this kind of show, but I'll say this. Meanwhile at American Big Data companies that are controlled by one stupid College Dropout dictator AKA meta platforms. Mark Zuckerberg the headlight about Mark today was that? He busted his knee, training for a mixed, martial arts fight and that he's like getting surgery. I mean this is what the guy who was no oversight at his, that is like, you know, multinational social media dominant company, monopolies, he is training for fighting and getting her, I mean crazy, right? Is it not absurd? Look, we free flow analytics was created to measure the Of people be inside of companies, like, in management teams, just like sports teams. So, Mark is just living what we built. That's all he's just sees, like, okay, well, they're gonna measure me like I'm on a sports team. I'm gonna join a sports team, I guess MMA for once, I'm gonna say that the owners of sports teams might be more serious than like oh no dude. Let the reins, like, get ready, your dual class shares. Get back to one share. One vote. Like get some actual independent directors. Like, do you? This is not, it's not right? It's not good. All right. That's, I'm not even here to talk about Zuck. but does the Oversight board have to weigh in. If you wants to Sunset, his share is moving on that. oh, Here's a nerdy one, Bumble founder and CEO to step down early next week, slack CEO to succeed her. All right, before I get to the Before I get to the meat of the story, I'm looking at you CNBC, these people have names. I mean, yeah, I mean use their names. I hate that we hide behind this, but the Bumble founder and CEO is actually Whitney Wolfe herd. And the slack CEO who's taking over is lydian Jones. So a woman's replacing Whitney. I got a lot of things to say here, but I'll leave you with this. According to our data, Whitney will have heard control. 64% of the influence at Bumble and Matt. She's not actually leaving. She's transitioning to rolls executive chair. So I'm gonna leave you with all that. Yeah, baby, that's right. That's what I like to hear. Finally, you know, I love this, I'm giving this a Triple-A, I love it because look, usually, it's a male founder or CEO or executive sticks around a woman, human body Shield. In front of a live grenade while they joined the executive chair role, and then do nothing. They just, they collect the check equal. If not larger to the CEO and they sit on the board, you know, for 10 meetings, a year the fact that we have a woman founder, who is, you know, a billionaire in her own right now, doing the exact same thing. Oh, she's killing the value of a shares enough that maybe she's not anymore, but I hear you keep going. But I do like that she's doing the exact same thing. I at least it proves that a woman can do it. I got two observations here. First of all, can you believe that the Bumble CEO job is more attractive than slack CEO? I don't really that one. Kind of surprised me though. Slack of course bought by cells for so they're not. They're really they're not their own entity anymore. Yeah I think it's basically I want to be a real CEO. Yeah except that lydian. Well what's her name? Lydia and Jones. Yeah and Jones you're not a real CEO know exactly. So what's the difference, really? What's the difference? She's a subsidiary of the founder, right? Yeah, that's correct. So but it is a slight upgrade because at least you're not the CEO underneath a CEO who's underneath the founder, right? You're the because Salesforce has co-ceo is one of whom that's true. It's like yeah and a Founder. Yeah. So at least this is closer. Yeah, that's true. Yeah, so the other thing I wanted to mention here is a bumble is quite the outlier and our database. And yes, our database is available, free flow, analytics.com. Matt Bumble after this transition happened, another director is leaving. They're going to be that board's gonna have only two dudes, two men. Oh, right. I have you, can you think of a board with fewer dudes, out of how many three? Yeah, do you think strive asset management is gonna like soothe them for only having two male directors? Isn't that awesome? You know what, I I want to know exactly, it would be funny, if Stripes somehow managed to vote against everyone on the board, but they're gonna use this to their advantage. Right. They're gonna use this as an example of like, diversity being racist or whatever stupid thing. They're gonna come up with I like to appoint women. Wait, to a point, women is misogynistic, right? Because because again, men, right it's sexist against men, is that what they're gonna say? It's alright have to be able to prove or show that like the women are less qualified than men to have done the job, which is not possible. They're doing it. They're probably gonna nominate Adam Neumann for that. Port is what they're probably gonna do in a proxy contest. Adam and SBF that's who they're going to put up. I'm moving on finally the meritocracy Works in historic close to my home although not why I'm picking it growing us anger. This is at a Wall Street Journal, Washington. Post Washington Post. The Washington Post has a new CEO actually growing us anger with electric utilities find its epicenter in Maine. Maine residents will vote tomorrow on a ballot measure that would dissolve. Its investor owned utilities and replace them with a non-profit. Are you aware of this? oh, I mean, this is like stakeholder shareholder battle going on here on the ballot box. I mean, we have decided the long long ago that that these are their utilities, right? They are they are by definition of utility and they're ready to talk about as in. They are highly regulated utility by the government. They can't like rate electric companies like companies. They can't rate that however, they want. There's a lot of constraints and and in fact, people have argued that you should regulate Banks after the financial crisis, are they utilities or not? So social media internet, right? Like isp's internet, the provision of the Internet, isn't that just a utility? And it's really a call for a greater oversight. Making them a non-profit is sort of the next. Next natural step in that progression that they're Community owned and the four profit and Enterprise. I think it's a great actual perspective here because what you're saying is that in lieu of actual oversight which we all need we're going to Get involved, right? We're, we're basically going to like put ourselves in to deal with this mess and I, I like that you brought up kind of the meta platforms model, because maybe that's what needs to be done. I wonder if it's going to be a dual class nonprofit like Sam Altman's. Uh, yeah. I would give this a score people like bow ties have three votes per share. Oh no. I gotta go buy a bow tie. Yeah. What's your vote on this one? My vote on. This is four out of five Globes. That's correct. Next one. This is just crack me up and made me fearful at the same time. This is from The New York Times. Chatbot May hallucinate more often than many realize according to the article. When summarizing facts chat, GPT technology makes things up about 3% of the time according to research and Google's AI makes things up at a rate of about 207%. I mean, even, even the 3% to me is absolutely frightening, but, 27% of Google. Yeah, for well, 3% does not sound like a lot. Like, actually, if you talk to another one, why should it be anything but above zero? But listen, the first conversation you have with the human any day is, hey, how are you and 98% of people live, right? Then the first to say you have, yeah, I wasn't gonna say that the New York Times actually talked about me. And that article says, I make stuff up 94%. That's true. So what are we? What are we? I mean, three percent seems like you're okay, I guess it depends on what the 3% is. If it's like inject, you know, seven milligrams of insulin into your body instead of two. That seems like a problem, maybe lie about well man, it is replacing, I don't know. It was it not? So it must be replacing. Some fact was something, I guess it is. It does. It doesn't say, I don't know very well know what Google Has so much information. Yeah. How did they manage to get so much wrong? Like, I'll tell you why, because they're another one of these like duopolies, run by two men who control everything with a like a fake CEO emplacement. Maybe it's just like their, their, their balance of power. They're oversight. It's just all wrong, right? It's just doesn't make sense. I guess there's no incentive to not lie because the two people in charge. What do you want? I'm giving this um, two and a half thumbs down Actually met agree with that one. All right, next headline. This is just bizarre. I mean, it's specially for considering the world that we cover here. I am still having trouble wrapping my head around. This one, Colombian Rum company, you know, the booze. Okay. Yeah I'm with you dick dictator. That's the name of the company. All right. Ah points and this is out of fox business.com, a point, a new AI robot called Mica as the company CEO. What? Yeah, I'm not kidding around here. So Mica is a research project between Hanson Robotics and the rum company dictator who customized the CEO to represent the company and its unique values. Here's what's crazy. Matt before you react to that, what's crazy is that this is a Colombian Rum company, this is what they're calling it. But it's actually a company based in Poland It's a Polish company but the but the, but the CEO, the AI CEO was meant to represent the company in his unique Valley is a woman of color. I don't like I really don't know what's going on, not it is it's not a woman of color. Well, I'm just saying like that's who the picture looks like. And this is a Polish, okay? I'm just telling you, she's meant to emulate a woman of color, I guess it was trained entirely on text and thoughts and feelings of people of colors. It is not a woman of color, okay? But they created an avatar but they created an avatar with great men, like skin. It's what's amazing about it is that the the sheer arrogance that you can train the thing on, like what, you know, seven white Bros think is important, and then make it look like a person of color to make with glasses with she's wearing glasses. I like she doesn't even have 2020 Vision, like that, she has a bad start. Imagine Dragons with the glasses on me. If you went through all this trouble to make a robot, To see right? Here's the, here's another funny part of it is that Mica said, on the company website, that according to the company. Mika said that with Advanced artificial intelligence and machine learning algorithms, I can swiftly, and accurately make data driven decisions, blah blah, right? Yeah. According to the Fox Business reporter. She said that there's a significant delay in the time. It takes me to process and respond to your question. Anyway. I mean, we're joke we're laughing but when you hear one of the next stories coming up, I don't know. Maybe we won't be laughing for a long on that. I have a lot of questions, some legal. Some not like like does. Do they do they have, do they get a golden? Hello did. They is there like a question? A pay package that you have to vote on is there? Like, who do you hold liable? If the company does something wrong, you can't sue an AI bot and and a company called dictator, who sells from does seem like a kind of company that when they do something wrong they want to be able to say it was the ai's fault so forget that they call themselves a Colombian rum company and they're based in Poland. I mean the whole thing is there's a lot of problems. Yeah I I'm giving this a negative 40%. All right, in light of that. Last headline, let's get right to Elon Musk. Oh, I don't. Let's stay with AI. Elon Musk says, This is a headline, this is coming out of new sources. Elon Musk says, AI will eventually create a situation where no job is needed. He's predicting He is now officially predicting a no job future I which I and yet he also wants to, of course, right? He's talking about he wants to like overpopulate, right? He's worried about there being too few people on the planet. I just, I'm now thoroughly confused of what the hell is going on. I'm but, yeah, go ahead. He is predicting something that was predicted, 10 years ago when Pixar made the movie Wall-E. I but, like, barring the cute story of two robots falling in love, it went horribly horribly badly for the people. Does anybody, anybody else see that movie? I have kids. The people part is horrible. They're always 600 pounds. They're in floating things, they do nothing. They can't even eat their teeth. Don't work. They're drinking out of straws and they haven't been back to Earth, because they polluted it so badly. While he already figured this out. It's not great, it's not good. So, No job needed is not a great thing for Humanity. I actually when we're all unemployed, like do we feel good about that or is that not a good? State like humans don't like that we might humans I think humans as I say humans and animals. Yeah they're there is definitely an enjoyment productive energy, right? I mean, you imagine, if you could if you if you didn't have a job and you spent all day on Twitter oh yeah what a horrible life that would be at the same time Matt Elon musk's artificial intelligence startup xai released its first model named Brock g r. Okay. I already screenshot of rocks responses, show the chatbot swearing and mocking its users. So this is intentionally and part of this man is that and in his selling point is, that is because it's based on the data that you get from Twitter is the company. He owns X that Cesspool of a company. And and this is gonna be the alternative to models like chat GPT. Wow. A model that is trained to be more civil. This one is just a pure asshole. Well, I look again. Matt, this is real life. This is actually happening. I like that. He's at least honest about what I mean. You it's like he's the living embodiment of garbage in garbage out. We talk about that in data all the time. Good, let me add one. Let me add one more tidbit before you rank this. This overall Elon Musk headline ex CEO Linda yaccarino stepped into remove a pro Hitler post and in a parent Divergence from Elon musk's Free Speech absolutism. So that's what's going over there at X. Oh, she's stepped in. Yeah. So what so what do you think about this? I want you to rate the original headline. Elon Musk says, AI will eventually create a situation where no job is needed. Look, I'm gonna rate this, I'm gonna rate this blue cheese on a scale of blue cheese to aged cheddar. This is not great. Well, that's that's tough because it that's a subjective rating, what you just gave because, you know, a lot of people have different interpretations. The blue cheese. So I don't know what, I don't know about. This they're wrong. Blue. Cheese is the bottom. All right, let's try to have a little bit more fun. I have three more headlines for you, that's possible. Yeah, we spoke to, and where you business professor today. So, I kind of wanted to highlight another NYU business professor. That's Susie Welch from NYU Stern school, she said this headlines, making a lot of play today. She said Gen Z remote workers are probably not going to become CEOs. Oh, I love when you can generalize about an entire generation of millions upon millions of people. Yeah, here's what here's, this is the part of what I really like. She said, the young people who choose to have that life that go into work, maybe one or two days a week or never and work entirely remotely. They may have a version of success. That is not our version of success. Okay, so that one dead Susie, but what, but what is the that's what throws me like? Because I was, like, kind of looking in the article for, like, what is the version of success that we're leaning on? But, you know, so she what version of success is she aligning with over there and why you I guess with the With the version of the CEOs, version of success. I mean, she realizes that these companies, that that often there are 50,000 non CEOs in one CEO. So most people are probably not going to become CEOs. Susie wealth, right? Am I wrong about that? That is correct. The whole argument is just, I find it to be so juvenile. It's like a middle. What? It is an argument. Yeah, it's myopic. Right? So Susie Welch. She has been at NYU, since she started in September of this year. Oh, so been there for a while, but, I'm glad she got her job before the date, which No One's Gonna have a job because that's elon's predicting. Yeah, that's true. But she she's a senior adviser to Brunswick Group which is a CEO advisory for okay. There we go. Which means that's all I get it. Represent the dumbass CEOs from today. So Susie, you get a big fat I'm giving. You a double zero out of 100. This is an easy one, Tyson Tyson Foods. We love talking about Tyson Yeah, we did. I don't love talking about Tyson know another company that is a fake public company. That's a controlled by the Tyson family. Yeah, Tyson recalls, almost 30,000 pounds of dinosaur shaped chicken nuggets. After consumers found metal pieces, and Well, I mean, like, you gotta love that headline, okay? I will. I, I will give the headline a kimchi, on a scale of mung beans to kimchi, is there something wrong with me? That I was just fixated on the fact that why do we need chicken nuggets to be shaped like dinosaurs, like, what is even happening? Yeah, look, look, if your children won't eat the chicken nuggets that are shaped like chicken nuggets. You've already got other problems existential problems because I've been a child, Matt chicken nuggets are just delicious. They're just don't need them to be a dinosaur. Yeah. Oh I guess you do need them to be a dinosaur. If you're going to use metal piece is to create the infrastructure that makes dinosaurs. I don't know. Yeah. Maybe he wrecks. So maybe hold the neck up, I didn't think structurally the structural soundness of the dino chicken nugget and finally in our, what is this? Our top I rate the stupid ESG business. I don't know what's going on with headlines. Yeah, yeah. Go back to the original name. For November 6th, 2020, three, we should have had Neil play this game, she would have loved this game. Yeah, yeah. No, nothing sends sounds credible like this game. Yeah. I had a, when we interviewed an Elmo, what? What nobody knows is that. I had a separate camera on now, and I noticed that she was hovering her Mouse button, right, over the exit button of our of our interview. So, she was always ready to bounce quickly. I actually, honestly Nell spent over an hour with us. Yeah, just because Damien would not stop fanboying with no, like it was really like talking to nose fun. I mean, she's literally the creator of modern governance, like she's still. So she's also just good at talking unlike us. Oh, I don't know. I, I'm a lot like Brock. Yeah, you're a bit more like rock last headline. Speaking of our favorite drug dealers, Starbucks wants to open eight new stores a day from now until 2030 wrap your head around, that wrap your head around that Matt. They want to add 20,000 new stores by 2030, and a long-term growth strategy, which they have named. Are you ready for it? This is the name of their long term growth. Shadowy triple shot reinvention with two pumps. Oh, the marketing team. Probably spends a year on that name, right? This is this not proof that like can we stop calling them like anything, but just a, just a big weedy Drug Company. I mean, why don't we think that they're anything other than a cocaine Factory? Speaking of which do you think will grow faster Starbucks or cannabis companies in New York City? Because you can't go a block anymore in New York with that, right? Like it just the whole city smells like. Yeah, it's the same up here, unfortunately. Like I have to pass three, different weed, shops to get to the pharmacy. Basically, like they're just everywhere which imagine if now, in, in a growth like Market, where every corner is either a Starbucks or a cannabis store. Yeah, you can go get some cannabis smoke it while you drink your coffee and all said each other, what was something that we talked about back in the day it's not going to be that long that the market is Going to accept a Starbucks. Also, probably selling weed. Eventually, right? I mean, it's it'll take some time, but eventually we're going to be comfortable with that. It's it 100% certainty or 95% certain that Starbucks sells cannabis at some point. I'm gonna go with 100. Is that allowed? I think that's a loud. I also I'm going to give. Yeah, right, let's go as my, my final rating here who's the day? It's I have to give this a coconut latte on a scale of Americano to caramel macchiato. Unfortunately, I think you're right because it's a, it's a delicious Prospect. I it's not the worst thing I've heard in my life, that's all we got that. Damian Ross, I am your analysts on that miscarriage. We are free float. We will be back on Wednesday. We're gonna do again. Now, the two of us are going to do a short woke Wednesday. Before we have a clip from the Nell minnow podcast, then we'll drop all. Yeah, just a clip. We're gonna nail talking about the anti-woke, actually, and her testimony, and then we'll drop all of Nell an hour of now on Thursday, super fascinating person to the whole conversation you should, you should it's fantastic and and then we'll be back Friday to wrap the week until then goodbye.