Transcript
Yeah. Will I get this room? Come on. Oh, fading fading. Look at that. Yeah, expert. Who needs Matt live from your CEOs cigar cutting thingy? I always hate those. That thing always scared me. I always thought they're gonna like Cut off a finger you ever seen that thing. You cut the end of your cigarette. Yeah, it's yeah. Another manic Monday edition of business pants. Join by Jessie the money Whisperer. Yeah, why not? Matt, I don't know where Matt is. Where's Matt Matt's on vacation? Matt quit, that was fired. What happened? Do we know actually I do I think they're in route to being arrested by the tax fraud office of Connecticut. In today's expired, milk called October 2nd, 2023 Monday morning headlines, even though it's actually one yet for noon and A Dopey CEO quiz. Love that for our money Whisperer. Perfect. Okay, that's all I got. Oh, our show today is being sponsored by free flow analytics. The only ESG data platform to measure real board influence. I'm so excited. We got it. We can start by going to our website, reaching out to us, go to freeflow analytics.com, you can do all those things really or just really just reach out to us. Okay. Ready for some headlines? Yeah, I'm just rushing right through because I haven't had my sandwich yet. Although fair warning to the audience, I don't even need a sandwich for lunch. I eat oatmeal and Jesse lapse at me, even in the hot summer. Here we go. Come on. Let's do that. Let's do some news. Yeah. Notice that I didn't do I didn't do maths weird transition with that whoopee cushion. I don't I'm not a big fan of that so I'm gonna do my own transition. I'm gonna do in fact I'm gonna play it again. So proud of it. That one. All right, kind of scary. All right, here we go. Jesse, I have a bunch of random headlines. Feel free to react in any way you want. Okay, they're probably mostly gonna depress you, but there is one later that is maybe seems somewhat nice. All right, here we go. The fraud trial of Sam, Bateman fried. I call them Bank, you know, fried. That's my stupid little joke with myself. The founder of the failed crypto exchange, FTX will begin with jury selection tomorrow. Nice, okay, facing seven counts. And if convicted possibly a, he could face a life sentence in prison. Yeah, hello. Yeah and this is just to say that our quiz today, Jesse is actually focused on Sam bakeman fried. This. I already learned something. I didn't. He was the same age as me. 31 years old. I thought he was actually younger than that. Yeah, because he acts like a, like a really excellent 19 year old really that's be fair or maybe even a 12 year old, but I have a big quiz for Jesse later. So stay tuned for all fans of CEO quizzes and for fans of Jessie. Please stay. All right the you in a story. We've covered many times. Oh no! No this is different. The US Department of Justice is finally posted what? Judge emit Metta described At the Google search antitrust trial as an embarrassing exhibit that Google tried to hide from the public. Jesse, the document in question contains meeting notes that Google's vice president for finance. Michael rochak. I guess he created for a course on Communications in his notes, Michael wrote that Google's search advertising is one of the world's greatest business models ever created. With economics, that only certain illicit, businesses selling cigarettes, or drugs could rival. How did they uncover this? Well, that's part of the, an Anti-Trust suit. And you know, one of the many cases being made by the FTC in school. What so the argument here or what he was trying to get at, is that What is this just like very persuasive. Well I guess that that even Google even alphabet itself knew that it's it's it's algorithm its product was set up essentially to addict you and was so powerful. So monopolistic. that, you know, people would Smoke it like cigarettes, right? I mean, which is true, if really, if you think about the nature of searching, would you do anything other than Google search? know, however, I'm trying to think about whether searching is as harmful as like to me Google search isn't as harmful as social media. No, I would agree with you but in general the way I see all of that. So social media searching, it's all meant to addict you, right? It's like a moment to add the user. Yeah, no it is quite convenient when I have a question and I just go pop on. Type it in find the answer. You seem not to care about this one. Let's cover some yeah. You don't have to care, I got a bunch of stakeholders rule news, you know, United Airlines Pilots approve, new contract with up to 40% raises. the new contract valued at 10 billion dollars, the largest ever for any US Airline JetBlue raises flight attendant pay. Also, the union agrees to support the merger with spirit. so, I guess That was really like hey, if you support our merger will give you a raise. Is that what that was? Yeah, I got I guess. Well, at least where it's getting erased. Yeah, are they Where is this coming out of like these are its you just mentioned United. JetBlue like what's happening in the airline industry. That everybody is finally like we need more money. Well, the as we've reported here, many times, the pilots to Pilot unions that are actually very, they're very effective because we've already talked about major raises at American Airlines at Delta. Now at United the only one that has an agreed to a new deal is South West, Pilots are treated. Well, I don't know if it's a gender thing. Flight attendance. We don't hear a lot about. We've heard a lot about. Anger now directed at flight attendance, like a very abusive working environments since the pandemic. But this one seems to me more of a the, the company wanted to Some Union leverage for their merger so they offer to throw. It looks like the flight attendant Rays is only gonna be 5% next year which is not a not a huge boost, but where is it? Coming from seems normal. Yeah, I don't know there's an upswing and Reporting about unions in general because of the car, the car strikes and because of Hollywood strikes, I don't know I don't know how to answer that question. Okay also speaking of Auto Workers the United Auto Workers Union expanded strikes on Friday I believe ordering 7,000 more workers to walk off the job. The strikes were escalated because Ford in GM refused to make meaningful progress. it sounds like still Atlantis is being spared from this round of strikes because I guess they are talking to the unions more. Okay. And finally, John Oliver lashes out at studios in late night returned. After writers strike, the late night. Host said he was happy, the Striking writers won a fair deal but said he was quote Furious that. It took the Studio's 148 days to achieve a deal that could have. They could have offered on day fucking one. Now I only include this recipe because this was exactly my thought was that The Studio's, probably did this intentionally they probably decided they didn't want to pay all this money for the summer. They could have offered this exact deal on day, one of making all these people suffer for for so many months. Don't forget that some of these writers and actors were on strike because they couldn't even afford basic things like health care. Right. So, so it does, I this is why I included it because I absolutely had the exact same thought it was like, why the hell couldn't they have done this immediately? What else is going on. Oh, and finally, you know, and something that we've reported about many times, I guess this just happened late. Last week the US Equal. Employment opportunity commission suing Tesla. alleging that the violated the Civil Rights Act of 1964 by subjecting, black employees in California to quote severe, or pervasive racial harassment, and created and maintained a hostile work environment because of their race, the black workers reported swastika's threats, nooses Uh yeah so that's what's going on there in Tesla. You mean there's chaos happening? Yeah, I thought this case was already actually brought this just went this is just finally started last week. Meanwhile. Tesla's cybertruck. Misses another deadline, Jesse this read that. Yeah, this cybertruck was initially set for release in 2021 and then Elon Musk promised it in the third quarter this year 2023, and it's being delayed again. This is this is the CEO that keeps that keeps his job. I mean this is just for both ends of the spectrum from the just a product Spectrum, he sucks. And from the spectrum of, I don't know what you'd call it. Just being a good leader being a good boss. I mean, he's all seems to stop an ability and feeling through. We're probably gonna get called mouth breathers for this, but I hope so. What is he doing, right? Like why has he been doing rightly? Well he he I guess he makes a car that that techie Bros kind of love and the stock price goes wild. He can't even introduce the new car that has seen rivian's everywhere. Just saying, so it is amazing. I think that 99% of other CEOs would have been, let go up already but this book but the star again the share price is just so ridiculously high that I guess it keeps shareholders happy. That truck is hideous. I really want to see it on the road. No, the side, the cybertruck, I don't want to feed on the road, I hope it keeps getting delayed next story, climate change in New York City, Historic rains, Buckle cities infrastructure, organist severe storm dumped more than seven inches of rain in less than 24 hour over parts of New York. Here's a quote from someone from The Brookings Institute who focuses on infrastructure. The realities staring city leaders in the face is that the climate is getting more Extreme, More unpredictable, and recording. More investment this. We already knew. Here's why I bring this up. Well, first of all, I never heard of this. I lived in New York for about 10 years. I never heard of anything like this ever happening near New York City. But secondly, maybe more importantly I don't know. The last time you were in New York, just see but the infrastructure there is scary looking It is. It's like it's like but it's like a bunch of rusted bolts and a bunch of like cricket and I'm serious, like it is a scary that this is happening in New York. That that now they are dealing with the impact of severe climate change. That is directly, you know, there's impacting their infrastructure, it just scares me. I just don't. Yeah, I don't know how long the city can withstand this. If this becomes these become regular events. It's just it's, it's, it's always a thing that hits me first and the face when I travel from Europe back to United States through, New York is just how shity our infrastructure really is here in the United States. Do you think that it's, it's a lack of upkeep, you're saying, because obviously, Europe, absolutely must be older. It's a lack of upkeep and it is a fetishization and worship of people like Elon Musk allowing them to hoard. Like all the well, essentially, I don't know what else it could be, really. I mean, remember, this is the guy who taunted the UN when the UN said that it would take six billion dollars essentially to to save 42 million people who were imminently on death's door. There's a lot of starvation because of starvation He taunted them by saying, you know, if you prove it I'll give you the money. Of course they didn't prove it in a way that satisfied him. So they never got the money but this this is who we let have the money as opposed to you know not only feeding the people but also you know fixing our crumbling infrastructure. Just anyway scares me. Yeah it was scary. Speaking of the world's richest men, the set the world's second richest person Elon Musk would be the first richest person. I believe, the second richest person is French billionaire, Bernard arnault. He is the founder, chairman and CEO of lvmh, which is the world's largest luxury goods company. He is being investigated for allegedly money laundering. Over his business, ties to Russian oligarchs. Really. You think you can get away with everything? Like, do you really he's gonna do you, he's gonna get away with it, of course. But what would be the, what would be the fine? It would be like a slap on the wrist, me. What could really happen? I don't know, but it it's not a great precedent to set like, oh, just because you are the second richest man. Like, you can basically do whatever you want or the orders we just orange. We just reported on the world's first richest man. You know leading rich, man. This is what you can get away with right. Yeah. A black. Okay here's the maybe the good news I don't know if this is good news. It's just I I know this is cheesy and Matt would laugh at me but I just felt like I needed to report on this one. Black rocks Larry Fink has called on leaders to inject more hope into the economy to prevent a self-fulfilling recession. He said he's never seen as much fear from consumers and businesses alike, as he has at the moment. Look, I know you're gonna laugh. It's just a new strategy. I Know You're gonna laugh, but but just immediate in general. So full of and I guess we're included, because we're reflecting, you know, the business news that we see, but it is just so full of just fear and negativity, and Terror. That I don't know. Maybe there's a different path forward and I don't know. I, I know you're right to be skeptical and roll your eyes. No, I just think it's funny because, I mean, he's essentially saying injector more money, but he's just replacing it with hope. Yeah, I mean he's saying I know I'm stupid for coating. This prevent a restaurant. Well, I think what he's saying is that every single CEO is constantly saying that that it's all going to hell is about to break loose, they don't really but the CEOs are these companies. They don't really suggest measures to prevent it from happening and I know That injecting hope is kind of like offering prayers after, you know, Mass Gun Violence. I know it's pretty stupid, but I just, I just in some weird way. I agree with them. I'm just, but wouldn't it be more powerful if he was like, here's what we're doing. Yes, to be hopeful or something, you know, like, rather than just being this is, this is what we have to do. That's exactly right. And the audience reads with you. Here's what black rocks doing. Yeah. Okay. I know, I was stupid to bring it up and finally in a story that it just is just too horrible and crazy. It makes my head spin I don't, there's not a lot of reporting on this. Guess, you know the company guess it's actually. It's I'm saying it wrong because it's a question mark. How would I say that? Yes. Right, make jeans, right? They make jeans. This is from a filing on Friday. Guest directors agreed to a settlement worth as much as 30 million dollars to resolve claims that they turned a blind eye to co-founder Paul Martin's harassment of the company's models, despite sexual misconduct allegation. So the lawsuit says that marchiano treated, the companies models as his personal harem. And that the board essentially fail to Monitor to Monitor him. Because of all these allegations. He's he he stepped down from CEO actually stepped down in 2015. So this is before the allegation happened, but he remained in places Chief creative officer. The lawsuit said that basically left him in the position that he could quote, literally force himself on one model after another. So, my point here is Jesse, is that despite all of this, despite all these allegations, despite the board to willingness to pay 30 million dollars to solve this, and to, you know, to to acknowledge the lawsuit, he, he still on the board, he's still isn't executive with the company. His Allison on Friday, his brother and co-founder, what's his name? Martin know, I don't know. His name is Maurice. Maurice actually did step down from the board. But Paul the subject of these allegations somehow stays on the board. As part of this agreement, the board has agreed to create something called the diversity equity and inclusion Council. Which will be comprised of one independent director and two Consultants. Essentially, to oversee, the horrible behavior of Paul and to prevent this from happening again, came out of the right is, is maddening. Absolutely maddening is. Why is going on? I have no, I literally have no idea. Five babysitters for this guy to make sure he doesn't, harass people, that is a problem. And, and is it turns out the Paul who was the chief creative officer, he made more money than the CEO. Last year, he made nine million dollars in the CEO made 5 million dollars. This is how important he is. And I will say that the brothers owned 45% of companies stocks. So that means that that ostensibly 55% of shareholders could get this guy Paul out of there, but they're just don't seem to care. According frustrating is, we I mean, we cover this all the time. Like, okay, you paid I just looked up their earnings. This is one percent of what the company earned. Cool. That's what you're, that's your fine. Is one percent of your earnings and what you don't even, he's not even getting a slap on the wrist. He sure he stepped down but he still gets to be the creative Mastermind. And do whatever he wants to do. Like, that's crate. We always talk about like, is that enough and it? It isn't. It's not enough. Like he, she should have paid 30 million dollars. Actually, he should have paid way more but way more. Yeah, at minimum, you should have been removed from his job at minimum at minimum and stopped being like when he stops down, he should have for went any pay that he would get. He could be a volunteer if you want to be creative Mastermind, fine, volunteer your time. Yeah. You could be not, pay him. He could be the guy who, you know, when people go to the jeans store and like, there's a they look at the jeans and they don't know how to fold them, right? And they kind of shove them back on the Shelf, he could be the guy falling them correctly. Here's the crazy thing, Jessie. Well, it's all crazy, but part of the stipulation agreement, I again, the company doesn't acknowledge any wrongdoing, of course. But yeah and yet and yet not only the forming this Council to overlook his abhorrent Behavior, but they're agreeing. To add two new independent directors to the board. The board on, which Paul will be sitting there. One of the co-founders of the company will be sitting there staring at these two new independent directors. Right? And according to our data, this is why our data I think is so important is that yes, the brother is owned. 45% of company shares but they actually control 78% of all board influence. So, But again, one of the brothers is leaving. So I don't know how those numbers will change. And here's another crazy thing about the shareholders there. It's the last thing. I'll say one more crazy thing about the shareholders of gas get gas. My singing right? Guess is that at last at the company's last annual meeting? It wasn't Paul the abhorrent Paul Marciano. The discussing, you know, a guy who treated the models like his own hair, it wasn't Paul that received the most votes against his reelection. He got 16, 16 percent votes against it was actually the chair of the nomination committee. Cynthia Livingston, who somehow received 28% votes against her re-election while Paul only received 16. So I don't know what the hell is going on with the shareholders. And again, as Matt says all the time, so many reasons why perspective clients are unsure or a data is because they're afraid of voting out directors right there shy about Offending directors by voting against them. But here at this company, Uh, they're more willing to vote the woman, a woman out, who's the chair of the nomination Community. They are the man who was, who has been caught up in these allegations for the last. These allegations first came out in 2018, they first came out, when model, Kate Upton outed him on Twitter. Wow, wow, insane. Of course insane. I'm sure we'll cover this more because there's probably a lot more on Earth about this board and I'm sure Matt will like to get into this too, but that's what's happening at guests and those are our headlines. Jesse for Monday, October 2nd. Wow. Excited for what's coming up next? Yeah, those were kind of a drag kinda. They're always. They're always a drug. They're always a drug, sorry. Yeah. Excited for the quiz. Here we go. I had to hide this quiz from Jessie so the it was legal. So there's legally binding. This is our Sam bake. You win. If I say if you win, you get that horrible looking plant behind you. This is our Sam Bachman fried. Quiz our SBF quiz. Here we go. I'm gonna kill the music so we can get really get focused here. This is not all this is real. Jesse, I know it doesn't. I know, it doesn't seem possible that that Big Venture Capital firms. Can hand over so many millions of dollars to deplorable human beings Young on an inexperienced human beings like this. But this is what's going on and Corporate America corporate world really here we go. Here's our quiz. In light of all the talk about paying off student debt. Who's debt did Sam bankman fried want to pay off? He wanted to pay off the debt of someone you know who that person is. Not get like multiple choice, you have to guess. I don't have time to do a multiple choice. Just Can I ask can I? Yes, absolutely. No one that worked for him. He was someone that worked for him. Okay? Okay. Think I'm think corruption. Think cronyism think just, just think. Yeah. Is this a tough? It's a tough one. Think world leaders. Think of where SPF where the company resided, where it was domiciled. It was I'm going to give you a wrong answer in this one does not Putin. It was the Bahamas. Prime minister Philip Davis. In bonus question, how? Yeah. Well okay, here's the thing. The country itself was in debt and takari favor. SBF thought, why not just pay off the entire debt of the Bahamas, the country, right? Because they needed totally make sense, right? Because they needed a favorable place to do their corrupt business and why not? Why not pay off the debt of the Bahamas that debt was 10 billion dollars. That's what he went 10 billion dollars. Yeah, that's the first question. Number two, question. Number two. Yeah, do you like this quiz? Yeah, so far. So challenging. Okay. After serving house arrest, unfortunately, Jesse there's no multiple choice questions, you're gonna seem like an idiot. But I wouldn't have gotten any of these right either. So, That you sent me up for Success here. I'm sorry, that's it. I gotta tell you, you think setting up a simple, multiple choice quizzes, easy, it actually, it takes a lot of effort and considering that I'm still recovering from my two vaccines. I had last week. I just didn't I couldn't do it for you today. I'm sorry. Friday off. Wasn't enough for you a three-day weekend, Friday off. Yeah, so being in bed delirious and achy is, that's that's day off. Oh, dare you. After serving house arrest and his parents, palatial estate in California. How did SBF violate his bail? Sending him to jail in Brooklyn. He did two things. That violated his bailed. You know what they are? I'll give you a hint, they are in the form of essentially of witness tampering. Oh, I'm slept with a like this. Wait and that's closed. Actually that one. Yeah. What else to pizza with a witness? You know what you're wrong. But in spirit, I think you're basically correct. One thing he did is he leaked the diary from his ex-girlfriend, Caroline Ellison to the New York Times. That's one of the things he did and he also on an encrypted messaging app. He sent texts to ftx's General counsel's. So, in a sense, you're right, they're totally not tapping his phone or like, how did he Think, well, he did think I'm sure he got away with a lot more than that too. But he didn't, in fact, Get away with it for a little while I guess. Question number three. Two times a week SPF is permitted to leave his detention center for a Manhattan Courthouse. I don't know, I don't really understand why he goes from Brooklyn to Manhattan. I don't really understand this part of it so we're so he does this because he's given a laptop and he's giving five hours to review case information. So twice a week he's giving five hours of the laptop right in Manhattan. I don't know again I don't know why they don't have a laptop. at the Detention Center, they don't have Our does not like a break employees break, for me. It's like a Special. Cure, I don't understand. Sure has all these permissions. Name two things his attorneys have complained about during these visits. So they're, they're pissed off about two things about this about this. These visits to him. Manhattan, what do you think? Again, you're not going to get the answer, right, but it just fun to watch you. Look out the window. Coffee. They're not. I like that one but it's, you know, it's the answer sort of close to that. That's what your second guess. Well, if it's close, then they don't go to get a dirty hot dog. No dirty review info. Here's what the attorneys are complaining about. I imagine the level of corruption that this man has is responsible for. Here's what they're complaining about. The internet is not good enough. It was one and two the battery on the laptop is not good. Which ironically is a thing that I complain about. Jesse the Great, Jesse, the money whisper gave me gifted me a, what was it, a Mac Air book? And that's the thing that I complain about that after about 40 minutes, it dies. So we I have something in common with SPF. We both complain about battery laptop. I feel so proud. That you want to have a lot in common with him. But I don't complain about the internet is fine at my house. Oh, the internet here, we do that. Okay, you can complain about that. All right, moving on with our Quiz October 2nd 2023 SPF quiz. Let the music play little. Just get you back in the mood. How did Arthur Michael Lewis of the upcoming SBF? Biography called going infinite, the rise and fall of a new Tycoon. Answer the following question. How did he answer this question? Where I think you might get this one, this might be an easy one. Where would Sam Bateman fried? Where would he prefer to live? In a 39, million dollar, Penthouse in the Bahamas without the internet. Or. In the Metropolitan Detention Center in Brooklyn with the internet. So in the very jail that he's in with the internet, So that, what's your you think he answered that SPF would rather be in jail with the internet. Yeah. Mike, yes, my famous author. Michael Lewis said there's no question in my mind. He'd take the jail. So he could do more corrupt things on the internet. We were just and I were just waxing poetic this morning about how lovely it would be to go somewhere, quiet and in nature without the internet. And this this guy, this is he's claiming that this dude would rather be in jail with a laptop but then And not only that, Jesse we were talking about going camping. This is a 39 million dollar Penthouse in the Bahamas. I mean, geez, yeah why? Yeah. Well, I believe that. Uh, next question in our quiz, who did SPF want to pay? Not to run for election in 2024, I mean, really, you don't have a lot of options here. Who did SBF want to pay? Not to run for president in America in the US in the 2024. I don't really know. What? His political stances, but Trump. Yes. Donald Trump. And what was the reported price tag? Jesse to keep Trump from running? How much did he think he could pay to keep Donald Trump from running? Two billion, that's close enough. Supposedly according to Michael Lewis that price tag was five billion dollars. Wow, well, I knew it wasn't going to be 10 billion because that's what he was willing to pay off deaths. So I mean, here's the, here's the trouble in question, would you take the six billion dollars to rescue the 42 million, starving people or the to, or would you take the five billion to prevent this horrific Maniac from? That's honestly tough. It is actually, I like I'm ashamed to admit, that, that's a tough one. The sad thing about that to me is that Is that it's tough. Like he has a, he has a chance at we're so scared that. He's a chance of winning that we're willing to pay 5 billion for him. Not to run versus saving people that but scary. How about this? Sad deal? Jesse, let's take the five billion dollars to prevent Trump from running. And let's we have out. We'll have a billion dollars left over and then we can still pay that money to the UN world food program. All right. Okay. So does that mean SPF is a Democrat? I don't know. I don't know. I mean like according to report he paid lots of don't. He gave lots of donations to both parties, I would assume deep down. He probably does hate Trump, but it also might be a bigger picture thing because I think there are plenty of conservatives and Republican demon who just fear the chaos and the hell of what another presidency with Trump means. I don't even know if you have to be a Democrat to fear. Another Trump presidency. So the next question in our wonderful quiz, I wonderful SBF quiz. I know Matt would hate this quiz, so I'm gonna call it. Wonderful SBF used a private jet, by the way, Jesse all this is real, all those are all real. This is a real person. This is a real, a real guy. That's crazy. SBF used a private jet on several occasions to bring what to the Bahamas from the United States and its dancers, not people. Just so, you know. Because he also yes, they also spent tons of money you saying dogs. Actually, it could be dogs. So or New York Pizza. But I doubt it. They actually the answer is packages from Amazon. Oh my God, why Amazon does not deliver to the Bahamas know. But, you know begs the question why not? Just order from a company that does deliver to them Amazon I mean to the SIP at Hamas. Yeah I'm surprised that the Amazon does not deliver to the bomb is frankly, there's a lot of rich people that probably won. Convenient packages, you know? Yeah, and also, there's stores. You could just go to the store. I'm just very true, but Two more questions here for SPF quiz. Okay, I'll let you free and I'll let our audience free. What else was happening when SBF was being interviewed on live TV for the first time? So when he was interviewed on live TV as the CEO of FDX, for the first time, what else was going on? Again, this is the CEO of with him or yes with him. Externally. Okay with him. And again, this is a, this is a guy this company this FDF the X cryptocurrency exchange. But once time was valued at almost 30 billion dollars I believe and this is a guy that was showered with VC Capital. So I don't this, I'm bringing this up, you know, to raise a bigger point about the kinds of fools that people will shower money on, but what was he doing? What was that, what was going on during his first live TV interview, any idea? Dopey teenage boy. Like playing video games. Absolutely. That's it. Exactly. That is it he was playing a video game. It's like on Twitch having like yeah, how about that? And finally look Sam Bachman fried. He definitely he really looks guilty. Right? I mean I think most people just seem to assume he's guilty. All this evidence is stacked up against him. I think four of his Executives of already pled guilty. In fact This is how bad it is. But according to one headline out of Fortune Magazine, they're saying that there are two reasons why experts believe he is taking this gamble to to actually take this quick case to trial, not just pleading out because again he could get a life sentence. So what are the, what do you think? The two reasons? This is this is not humorous, just warning. You. This is just like boring normal answers. What are the two reasons why he's taking this case a trial? Yeah, go ahead. I might have read this. Okay, that's fine. So, go out on a victory. Think? One of them is they believe he actually believes himself, like, he actually believes, he did not do anything wrong. And then the other narcissist, yes. If he could trick just one. Yes. Wow. Are you got it right on? Yeah, he basically the unpredictable nature of juries in the fact that SBF thinks he didn't do anything wrong so that's yeah that that's how it is. I think it's a little bit of everything, right? Scary. Yeah, I don't I mean I guess I don't know what I would do in this situation. Yeah the trial go on for I, I don't know. I it's a, it's a complicated trial with a boatload of evidence. It's a very, it's a very complicated relationship between FTX and the font, the family fund that where they would shuttle billions of dollars back and forth. So I imagine this is gonna go on for many months. They'll be appeals. I also imagine that he is gonna lose and go to jail for a very long time as my guests. Yeah, so that's it. That's the show business pants for October, 2nd, 2023. Thank you, Jesse. I don't know if you have anything you want to say, on our way out. Just go check out free full Analytics. That's I think that's enough. We will be back hopefully with Jesse maybe with Ari on Wednesday so stay tuned for that. That's it. Enjoy your life right? Thank you. Jesse.