Transcript
Why am I hurting your head? All right from. Wow you your anti-esg corner vape store. Oh see a lot of vape stores anymore up here. It's mostly weed. I don't know when the vape store was a thing that was like a really narrow window of store type. We had a bunch of them around though. They were shady. I know, but it went from like, you know, tobacco to vape right into weed. Like there was not. It was there's like the Gen X of stores. The business pants Friday show here at September 15th Studio, featuring some of your favorites, Jesse the money whisper. Analyst whole mattress guardi. That's it, that's it. I want the audience to apply but I think they're depressed today on today's Weekly wrap-up, a loony exit at BP. Yeah, you hate. Oh, I do. I know. I don't usually do puns but felt like a Coco's Triumph. A holes named Bill and will. And and underground land grab. That's what you get to look forward to today. That you sell it hard. Come on. Let's do this story of the week. Here we go. Yes, you know I'm Melissa. I'm I'm listening to the music that I hate, all right. first, big story, BP CEO, Bernard Looney resigns, over past relationships, with colleagues, so they say, Now, I like claim. I like the s in that. Hmm like it's past relationships with colleagues. Yeah. You know when we reported on this one day Monday I kind of believed what they were saying. But the more I think about it I don't actually think I buy. I told you they would have already fired him for this. They would have already made a bigger deal. Something else is going on? I'm saying I said on Monday, they must have known about this. They must have asked him about this. They must have thought it's not a big deal and then it became a big deal. Because something happened a joke anymore, I don't know what it is but something, well, no, there wasn't internal investigation in 2022 in the company is claiming that was in 2021 wasn't completely forthright then yeah. Okay, was a year ago, he just resigned now like why now Yeah, second big story. The the United Auto Workers Union for the first time ever went on strike at all three, Detroit cars, that's just fun. General Motors, Ford motor and Jeep maker. Stellantis representing about 150,000 us Factory workers. I'm just happy that I keep hearing the words delant, I'm actually happy about the story because now I know that it's that they make cars, make, Jeeps, I knew, they made cars like I never seen it. Still Lantus. I didn't want to ask anyone. They like they have like 10 brands. They make like a whole bunch of cars. So that's the second. Big story. Third, big story. This is really a one for us. The nerdy story. Former Starbucks CEO, Howard Schultz. Steps down from the coffee chains board. Yeah. Now he's gone. Never again, will anyone hear from him? Wow. So here's the fun part of this. First of all, the announced in a filing that the company has agreed to amend the retirement his retirement agreement from 2018. So that was five years ago so they're ending keep coming back. Yeah, it's harder mending something that already happened. Five years ago. So he and his wife will be provided Security Services for a period of 10 years. Yeah, that's paid for by the company that's shareholder. What it's like is that a guy named like Butch standing like at the end of your driveway, every day for 10 years. Is that what that is? Can we take a round? Go take a quick pause here. Matt you're you're mic. Sounds a little goofy to me. It's it's not goofy. It's correct. It sounds good in my head. It sounds weird and kind of coming in and all right. Now I don't care about your head all. So he is getting re-man on Jessie. The money was pretty like this one. This guy who still owns a considerable portion of the company. It is a well-known billionaire. We'll also be getting reimbursement of his monthly Health Care insurance premiums. I mean, is that thing like so This while he's supposedly retiring. Do you do you think Butch standing at the end of his driveway? Watching the driveway to make sure it's secure also gets his health care and reimbursed by Starbucks. Yeah, I would think he gets. Yeah, he gets paid, but my Shoals Schultz pays like, who needs Healthcare? Reimbursement more, he's the security guard. He's gonna take a bullet for Howard Schultz or what, and he only gets catastrophically. How are children said, in a statement, this is really speaking to his retirement. He looked forward to quote supporting this next generation of leaders to Steward Starbucks into the future, as a customer supporter and advocate, in my role, as chairman emeritus. Oh, Meredith. Oh, as far as we know, and of course, somehow boards, avoid reporting, the real details with this. This means a chairman of America's role, typically, Jesse is that he will attend board meeting. Not have a vote, but can you imagine the incredible, right? The incredible influence. He will have just sitting there so staring at you while you're talking. I mean, totally, you're gonna look to him either full on with both your eyes or at least squarely with your left eye and be like, what do you want? Howard. Do you think mellody Hobson's gonna like sit there and be like, okay now that we're we have fresh Blood. Let's unionize fully. Well, Howard Schultz sits in the corner doing Sudoku. The fourth big story of the week, Senator US senators left Majority Leader. Chuck Schumer's AI Insight Forum in DC Wednesday. Talking about an urgent need to pass legislation. Governing AI while CEOs agreed, that Washington must play a role. So Some of the big CEOs at this, they call it was this the AI Insight forum. Tesla CEO. Elon Musk. Alphabet, CEO Sonora, everyone. Microsoft Bill Gates was there to former Google CEO, Eric Schmidt, all the All the all the tech, man, babies. All the Bros. Wow. Sounds like a lot of fist bumps. They had to separate Zuck and mask on opposite and that's the rumor after the clothes to the public meeting. Elon Musk said it was important for Tech leaders to have a referee in Washington and suggested. The meeting may go down in history. It's very important to the future of civilization. Wow, of course you would, but here's the problem. Yeah, here's what the criticism. Chuck Schumer's facing these facing Chris, is because of the clothes door, nature of the event and the fact that Senators could not ask questions directly to the CEOs. Elizabeth Warren is saying all the Senators are sitting there and ask no questions. That's what's happening. She said she's urging an end to special treatment. A big tech companies in a tech industry bill that addresses that had on. So what here's what they were doing? Because I know what they were doing. I was there in spirit. They all had their legal notepads open and crayons and they were writing down the stock tickers of the companies that were attending and they were all handing it to their team of interns to go buy those stocks on Robinhood. That's what they're doing. That's my guess. The AI Insight forum. It's a scary State of Affairs. They're the text CEOs are coming to Washington asking for regulation, but as we point out over and over and over, no one's really regulating them and their roles, like it's a lot of dictators at these companies who don't have any oversight. So it's just the whole thing is awkward to say the best there. I will say to the sentence credit. There are also there are so there are 10 CEOs of Pharmacy CEOs in the room, they're all. So 12 people representing a variety of stakeholders including AFL CEO president, Liz, Shuler and then, People from various nonprofits, that provide AI oversight. There was a American Technology ethicist from the center of Humane technology. So there were a bunch of stakeholders that represent, you know, kind of a counterbalance, the CEOs, but again, close to the public. So, no one really knows what's going on. But I don't like that. The Motion Picture Association and The Writers Guild were both present and simply because they're really loud. Like there was no, there was no, like, artists Association there like for Fine Arts or musician Association or like some of the people here. You have to wonder Like how did hugging face CEO Clemente delaying get in? Like how did he get it? I guess I didn't really get that when I looked up his organization hugging face like it's like a community for AI people. It's like a social media for AI type. I don't really know why. Like, why are they there? They're not there. Who's interested? They represent, I don't understand a human and an A-type. They should get Butch the security guard at Howard Schultz's house to weigh in on this because I bet you his views are valid. Here's what bumped me out in a story. I didn't cover but that we tagged is that it took me at least 50 minutes to come up with a full list of this meeting of the full list of attendees to this meeting. That may or may not save Humanity. Like I went to probably 20 different news sources they with listed a few of the people. But not even a full list of CEOs. Most of them did not even mention all these other stakeholders in the room and yeah, at the same time, Janet Gannett company after, you know, several rounds of layoffs affecting their Newsroom. They are now announced that they are going to have a full-time reporters, covering Taylor, Swift and Beyonce. Yeah a reporter for more. That's important. They are changing whole countries economies. There it is. They're making people money. Yeah, that's the point but they don't necessarily represent the end of humanity. I don't understand what Taylor Swift write was. I mean, we obviously maybe no one knows because it was closed doors. But like, what was the point they were trying to talk about like responsibility ethics? Like what regulation really the point is that they're trying to get the regulation ball rolling. The EU was already actually done things and they were buying from the CEOs or they want know. They're CEOs, the CEOs seem to our demanding essentially, that the government get involved that because they, they're not going to be able to figure it out. They know how hard it's gonna be to save you as they destroy as they destroy Humanity. They know that they need help. I just, I can't protecting the world from themselves. I can't get over the fact that you you invite ten CEOs into a room. All of whom agree that they are simultaneously destroying human. The problem Humanity, they are the problem and they're asking for help if you're the problem. Don't do it anymore, right? Is it that like, I don't understand the difficulty here, like they basically are like, oh yeah. No, like, that's like 10 bomb makers coming into a room saying, like all we do is make bombs, bombs are a problem. Someone really needs to stop a simple for you meant that the CEO of anti-esg company strive Asset Management had an interview yesterday where he said that the point of a company is to make money. It's none of this ESG shity said, it's to make money. So so Matt, they're just doing their jobs. They're, they're just making a ton of money. That's the whole point is the point. If we're all gonna die from this thing. Anyway, make money, okay, money. That's the point of a company, our money and not be able to use it because we're dead from AI off, your ESG bandwagon and not even money. It's like basic Humanity. Well you that's the sdsg yeah, humanity. And the Jeep because these because a lot of these companies Have no oversight. Crazy, it's crazy, right? Those are your four stories of the week. I could repeat them, but I don't feel like it. It's Bernard Looney resigns. UAW goes on strike Starbucks, CEO. Howard Schultz, fakes steps down and Senators talk about AI to people who are destroying us. Oh, this one. Oh that's I don't know if that's true that. Just just to clarify. They were really allowed to ask the CEOs questions. They, I guess they listen to this videos, begging them to get involved. Do something they were because they're destroying the world because it's a bunch of man. As they wrote in crayon, the stock tickers, they needed to try, not to mention that I'm looking at this list of the 10 CEOs, there's not a single woman in that list. Am I wrong? No, no, no women don't really do. Because why would why there are women in holders list? I'll give them credit for inviting a bunch of women there to control. But yeah, you know, the problem is the women are, I they not AI, that's the problem. So you don't need them in this conversation, you need them in the intelligence Insight Forum, not the artificial intelligence and the boats. This one's hard, okay. It's hard because I really like the two, the Schultz and the loony stories. The strike is a big deal. It's their estimating. It's going to cost like billions of dollars a day and we know how Mary Berra handled the last Labor dispute right by driving the opposite way from the from her workers. I think she looked down at her phone and was on Chevy 7 weeks when the opposite direction. So we know that like these strikes although GM just raised. I know they just raised their offer but these the labor movements like a real movement and yes after the success at UPS they're emboldened, I'm sure. Not only that like Schultz's stepping back and down largely because he lost the fight against the labor movement. I mean like the the he was not successful and quashing labor despite his Holocaust blankets story. So and then you're talking about AI. I'm gonna throw out the AI one mostly because all they did was listen and nothing actually happened. They was it was blow Hardy. I think the, the UA W and the Starbucks CEO are kind of the same story, and I'm gonna go with UAW as the modern incarnation of it. Yeah. All right. We the story of the week is the, as a midnight Oh, there's a strike against all three us. Automakers there in Detroit, love it. The story that we can. Come on, who's next? All right. Actually, this can't be already because there's not a single battery story in this, in this group. All right? Who's got the first one? I'll be me here for The French supermarket chain care for has put labels on its shelves. This week warning Shoppers of shrink the phenomenon where manufacturers reduced pack sizes rather than increase by so that. So the supermarket itself when you out that the shit going on by these companies, by by literally labeling the products pointing out. Like for instance, they're talking about one that says this product is seen its volume or weight fall and the effective price from the supplier rise. So they're just they're just pointing it out like that. You the consumers are being ripped off and it's and this is a publicly traded company car for this is not a bunch of of librarians from Des Moines. I like this. This is great. I didn't see the story and I like it a lot. I wish we could shrink flight everything. Like, I think we need a label for that on everything. Well, it's your story then. Jesse my story is obviously Coco Golf US. Open victory. and the fact that, It is the most watched women's Grand Slam final. And that's ESPN's record that it broke and It crushed the men's Sunday final in viewers? Well yeah. Who cares? I feel a part of History because not only that I did I watch the entire match but I I didn't even look to see when the men were playing. I didn't even look to see who was playing, I didn't care, but I watched the entire women's match. It was on during our party inside. My aunt was watching it and there was a bunch of kids that are trying to watch other things telling her to turn it off. And she was like, nope, you're gonna sit and watch Tennis, that's great. And that's why there were handprints on your TV from children. They were like, change. I hate this. All right, mine was This story out of the iea, it's the beginning of the end for Global oil demand ieh Chief says they predicted peak oil by 2030. But what I like about this is Damien, pulled another story and I consider this evidence of peak, oil cocaine is set to overtake oil to become Colombia's main export. Got, you know, I love those two things next to each other. You say that good. I would say it was already the largest export, but let me ask you. Um, would you rather America be flooded with oil or cocaine? The thing. Okay. Nervous about the cold day is that, it's like gonna be these Business Leaders, that we fucking hate hyped up on cocaine, that's true. It's making bad decisions. That's fine, Elon Musk. I'm okay with that. Oh, they're ketamine now, they're all good. That there's some evidence that, that can help you. And by the way, where do they get this information? Because it's not like, are they really going to disclose accurately how much cocaine is GDP? Yeah. It's one of the line items I just say thank you. I just say before we vote, I for the first time I ever, I actually saw a, an anti CEO bumper sticker. It was a on a Tesla. There was a bumper sticker with Elon crossed out. I've never seen That anywhere I've never seen any bumper sticker against any CEO before. So this is the first for me, Robin. I agreed that we could get one. Yeah, that will shut me up magnetic because I don't like the sticker. Well you're all so we'll make it not. You definitely don't want it to be permanent because you're leasing it. I'll look for a magnetic version. I tell you get that. I'm gonna assume you're an anti-semitic, a hole awake. It just wake me up when they make a Robyn denholm with a line crossed out. Well, that's the chair of Tesla. All right, this one's easy for me. It's car for Yeah, I like that. I mean, we really like the more than any story this week that is at the heart of what this company is. Like, we started free flow because we wanted like nutrition labels on everything to say. We want to like full transparency. I love it, I love that. Yeah, absolutely. All right, these are these are the week. Hold another sweep. Cara. 4 puts shrinkflation price warnings on food to shame Brands? All right, that means we're on as Holyoke. Damian. Yeah I have a lot to say, all right. Let me start by saying this first. One is a person who I'm actually connected to on LinkedIn. Okay. And I feel a little bit bad because I know he's a well-intentioned person and he's very smart dude, and whatever his name is Bill Bowie. And you're gonna have to Stick with me through this he is I'm using him as a avatar for the deeply triggered, Super Bowl proxy. Yeah. Okay. He is the deeply triggered. Super woke. That's what he's he's gonna stay deeply. Triggered, super warm. I don't know what that means. Go ahead. All right, so and this is a deep cut. So bill was a writer, a journalist, a blogger consultant, he did wrote about sustainable investing and ESG and stuff like that. He got his bachelor's in English, she got his Master's in English and then he got his master of letters in English focusing on 20th century literature. He's just a writer, right? He that's what he is after literature. Yeah. After a long career like writing about sustainability. He's one of the founders of the science-based targets initiative. Sbti this is a non-profit that was founded to set scientific targets for companies on carbon. That's what they're about like, science based targets sure. He sat on a technical committee which is a little weird, because when you look at the science-based, targets initiative, half the people, there are like scientists, right? Like, they're, they're actually like the woman who runs like their validation program. She got her Masters in carbon budgeting and accounting and her like her Bachelor's in like, you know, science environmental Sciences. These are like scientists. Yeah. But have you ever read, have you actually ever read like Faulkner? That's some difficult dense stuff. I'm not saying, I'm just saying that I'm just technical committee. They're not doing the technicalities of Faulkner doing these technicalities of carbon. That's so just saw, I'm just gonna point that out. He ends up leaving sbti because he has a number of disputes with their governance, conflicts of interests, their models that they chew they choose. It looks a little like this sbti is like a credit rating agency. It's a it's an issue where pays model companies come to sbti. Why they pay sbti to set a target for them and validate that they hit the ball, right? So we get into a business like that. So it's, it's very it's conflicting, he's right, right? Like that's there's a clear conflict there. Sbti also decides to change from one model of carbon to a less stringent model of carbon because you know the science of the stringent model would be harder to pay. It's very clear that it's harder to make money from a company. If you tell them you have to make 0 carbon like it's really hard to do that so they very quietly switch sort of the models and and build a doesn't like that. And then they refuse to be transparent about how their decisions get made. There's no transparency at all. Sbti is like, not talking to the public and bill says like you're a public interest organization, you should, everything should be public. That's the point. Like, it should be public. So he argues with them, he sound like an a-hole so far, he files a complaint With them he argues with them internally does that for a few years he gets largely ignored and then he goes for the last three years on it incredibly public. Incredibly loud ranting Where tweets or tweets, okay? LinkedIn, public letters. Public challenges official. Inquiries, he makes noise, but not the noise. That's like, you know, sbti should be doing X, Y and Z goes so far. As to say, they're fraudulent their self dealing, they're basically calls them out as like, like, there are non-profit. I don't know if you actually see where this is going now. Okay, he takes his argument really public. Last year the Biden Administration or earlier, this year passes, a law that says suppliers and procurement for the US. Government must have carbon reduction targets and they choose sbti to administer them. Now Bowie loses his mind because he says, they're not the best model and their self-dealing and their corrupts and all these things, he even says that they have become now a quote quasi regulator with no checks and balances, there's no accountability. He finally gets heard finally. After three years of throwing a mega fit, he finally gets heard by the house committee on Space Science and Technology led by Conservative. Republican Baptist representatives for right Bowie's public grants in an effort to basically whistle blow. Are now the centerpiece of an anti-wolf campaign to shut down sbti. Entire the sbti. Now the Republicans are claiming sbti is a corrupt organization based on Bowie's public ranting And he was a co-founder they claimed that as a corrupt organization, they're taking foreign company clients and they become an agent of foreign companies and then they those foreign actors are discriminating against oil and gas and out to destroy the US economy and consumers. They can conclude by saying that sbti is a national security threat and needs to be investigated and it's they're basically a centerpiece of a giant conspiracy for Russians and like stopping us oil or something so Bowie. Seeing how he's being used and this is happening in the last week. How he's being used, writes an open letter to the house committee saying, no, no, no, no, the problem isn't the regulation. We want the regulation, it just needs to be stronger, they need to use the right models, and it needs to be more transparent know. It's, it's got to be stronger. So he wrote racist open letter. The first three paragraphs are about how the regulation he agrees with and needs to be stronger. And then the next five pages are about how sbti is a corrupt, organization and self-interested. To sum up. We have a sustainability evangelist, who is angry with the direction of a sustainability non-profit. And he weaponized his anger, to accidentally get conservative lawmakers backed by Leonard Leo and the Koch brothers to shut down all science-based Targets of carbon. That's what they're now trying to do. I mean, yeah, this is why it doesn't surprise me. I mean, we've talked about this before, like, some of our original arguments against companies like BlackRock of eventually kind of got folded into the anti ESG movement, right? They they kind of just picked the Cherry Picked any criticism that could find and they conflated, it are our conversation about BlackRock was no black rock is not woke. They're saying stuff about like, how they're interested in carbon in the climate, but they're not like, right? But these are not but I'm trying to say, is that the anti ESG movement is not about logical. Well, thought out. Argument, it's about finding any criticism. And then saying, let's shut it all down because they're not doing if they were doing anything wrong. Then it must be a disaster. It must be, of course, but the point here is sitting on a self-righteous poll above everybody else and saying, this is the right way, it should be done perfectly, this is the right way to do it. You have now weaponized it to shut the whole thing down rather than saying like there, they were doing some good work, this would be better but they were doing some good work. It was when I, when you read these things, it's like he calls out individuals like the, his co-founders, the current people running it. He basically says, they have no business doing it, that they're self-dealing that they're corrupt that they're I mean he calls them out as evil. It's like like I mean it's it's some point when you're screaming loud enough, I know you want to get heard but you have to pay attention to who could be listening like you. This is not what you want. So I chose him as one of my ass holes of the week because this is what it looks like to be deeply triggered, super woke, you yell and scream and the backlash is The other people want to shut it all down. Everything. All the good stuff you build. They're going to shut it all down. So he's number one. You I don't know if I don't know if I'm gonna jump on your bandwagon on that one. That's not you're calling him. So you're saying that because he's super woke as he called it. It was too much like his curse is too much. Oh the criticism, I agree with the criticism. My problem is the way you go about the criticism. If what was he supposed to do though? I mean several hundred pages of the thread, every email he's ever written to them. And every response he's made public, what do you what are we doing? What are we doing? Like there are other ways to adjudicate these things? Like there are other ways to get satisfied. He went out and he started another organization that basically competes with them, right? Like, yeah, that's how you win. You, you do it better, right? You do the right thing better. I don't the screaming, the tough one, the screaming, when it gets picked up by the wrong hands. They're using it as an excuse. I mean, like if sbti gets shut down entirely, he will be a centerpiece as a reason. Why? And in the void there is no. Carbon budgeting, there's no carbon management. There's no standard setting. There's no targets. We need to refill that void. What are we trying to achieve here? All right, number two. What else you got? I'm not too sure about that one. Number two is will hilled an hour talking the propaganda libertarian idiot, anti-wolf pole. This is the other side of the spectrum. Yeah, now we're talking, he's actually funded by Leonard Leo, he leads consumers, research a conservative idiot front group, they're real idiots and he wrote this this, op-ed Duke Energy puts ESG over the needs of its customers. I don't know if you read this, I loved it. It's fantastic and I loved it for the following reasons here. I'll go by quote. Yeah. Quote the utility Monopoly has increasingly pledged its commitment to ESG, including environmental, extremists objectives of net-zero. Like I'm sure already by 2050 and Net Zero methane by 2030. So, first off, he's angry at a Target that is happening. 27 years from now, he's angry at something. Two, and a half decades away. Like he's, he's angry now. A quote Linn good chairwoman president and CEO of Duke Energy, has stated that the company's entire business strategy is focused on how to achieve carbon reduction. This has to be in the history of histories. The only time I've seen chairwoman when it's clearly meant is a slander, right? Like of course you never see, you know, women are called chairman. I know it's drives me crazy. And this is, why was I don't, I refuse to even say chairman anymore, its just share, right share. But this is chairwoman you don't put the woman there. Let's you want to point out. She's a woman. Quote Duke is so maniacally. Obsessed with Net, Zero targets, that executive pay is tied to ESG goals Goods. Page, jump from 21.35 million to 2022, almost 30%, more than her 16.45 million in 2021. In that statement, he links the proxy, which is his must be his evidence of that. This is happening even though, as we pointed out so many times he goes, There's no there's no correlation between that and their race and pay like it's all Equity. I'm sure he didn't read the proxy because here is the populist math. Classes were tied to short-term incentives only which were 13% of overall compensation, roughly 2.8 million. Yeah, of the short-term incentives. Climate specifically. They put this all in the proxy. Was 12.5% of the goals 350,000. So 350,000 divided by 21.3 million is 1.6% of her pay was titled 0.6%. Meanwhile, good got 116,000 dollars or half for climate pay in corporate jet use. So, we really talk about here, we're not talking about anything. We're talking about And again, how about the fact that he's doing ESG work. But while he's doing anti-esg, yelling like that, like, by even referring to the proxy, by complaining about CEO pay. But by looking at amazing competition plan, you're just, you're, you're an ESG analysts, although you're a bad, you're really a bad horrible? Yes, you're doing it. What's your seat belt on because it's about to get bonkers? Quote Duke's, ESG fanaticism serves serves as a distraction from its environmental disasters. Wait, what? That is a noun. Now I'm gonna be e stands for environmental you idiot I know. Are you ready? Quote, just last year, it lost a bid to fleece Indiana, customers of 20, 212 million to finance, a cleanup of coal ash, that contaminated, local groundwater, you want to know where I read that stat? Yeah, and msci, ESG report. That's where I read it. Again, I was just say, like, he just sounds like he believes in our in us, he believes in what ESG represents. Quote Federal prosecutors filed, criminal charges against Duke in 2015, for illegally dumping millions of gallons of toxic coal, ash in North Carolina is Dan River coal ash. He's saying in one mountain of his mouth that they're trying, they're shutting down coal and focusing on environmental stuff and on the other side he saying that that this is all a distraction from the fact that they dumped coal and shit into rivers and they pollute He is environmental you moron. It's all environmental and then he rounds it all out by saying, quote, by aligning executive pay scale, to ESG targets, rather than servicing customers, which actually is more than the climate servicing. Customers is a larger portion of her pay, then the climate, she is incentivized Duke to spend more money on wasteful projects and simply pass the costs on to Consumers. Nothing says incentive like 1% of your pay. That's nothing. Nothing smells as incentive. Yeah. So it will help. It. Is remarkable remarkable IDOC that? They're, they're now using these very slight ESG goals. Now, it's a way to prove that CEO pay is out of control. We get to dismantle the whole system. And then finally, I just said to have a number three that we're going to probably skip. That was will that was Will hill of consumers, research. Number three is a billionaire technician up bubble pole which is man. Who is actively destroying civilization warns have something else. He's working on can destroy civilization, Elon Musk tells Senators. AI is a double-edged sword that can do good, but also destroy civilization. So once again, we have Elon Musk as our Messiah telling us what's good for us and bad for us at the same exact time. I almost want to vote for you as a whole week. Just Elon Musk, he didn't have to bring up Elon. I wanted to number three and he's just so easy. All right. So it's it's it's it's Bill Bali. But really the the triggered loud complaining about what is perfect ESG and sustainability. It is Will hilled, which is which is really the the idiot like ESG analysis of the, the anti-walk, and then Elon musk's as a hungry. What he got? Jesse it's, well, held. That was just so Court, contradictory and dumb and worst. That's the problem with all of it too, is it? I think you hit it, right? Jesse is just so dumb and I don't know if it's because they're they're playing tricks. So on us. Like they know it's dumb or they're just dumb, dude. I don't know. Which is worse. Is it better to be dumb or to play dumb? I don't even know what they know, they know, right? They know this is dumb but not to mention what you had a line alone. Like I read the headline in our list to pick my own articles and I was just like, like, I just knew without reading it that it was going to be a cockle. Bulshit. I didn't know how bad but not to mention that. Once again like this part that really just angers and tweaks me is that their their their their their doing? Yes, she is just such craziness and Republicans going after publicly traded corporations telling them what what they should and shouldn't do after literally centuries of Saying how dare you tell a corporation what they should and shouldn't do? Like, it's just the whole thing is madness. Kudos to will hilde in this one. For saying, his argument against Duke was their ESG goals in PEI. As a distraction for the ESG problems that they created with coal ash, that is that's a new level of like non-self awareness, like they're humble side. All right, so next up then is exhausting us of the week. I'm exhausted. Yeah, well prepare yourself, all right, first article first headline new land, grab by oil, Giants is deep underground. So I mean, you probably know where this is going. If we want to save the world, Save Our Land. We need to sequester carbon dioxide. And one of the things that these oil Giants are doing instead of actually changing the way their businesses were to be better for the environment is let's just buy Let's just put our money towards carbon sequestering, even though it's very, very, very expensive. So, this article centers around, how companies like Chevron and Occidental, specifically are shelling out, huge, huge, huge amounts of money to get rights to subsurface holes, where they want to sequester the carbon and subsurface holder paying off farmers in Texas, in the South to use the land underneath their Farms, which I don't. Yeah, I don't know, article coverage Jesse, but how much? Okay, so, when you own surface land, how much of the land do you actually own beneath your surface land? Well, we're down to go Tara, make it a lot forever. These farmers are making a lot of money from it. So I'm guessing they have the right. No one has challenged. The fact that they don't own to the core. Sure. But so critics are saying that carbon sequestered sequestration is a Band-Aid that lets companies avoid the tough steps of actually decarbonizing and then supporters have said that it's super expensive. So you've it just doesn't seem like a great solution yet instead of actually, Doing their due diligence and being responsible changing Behavior. They're just going to pour money into this. And there's subsidies floating around from our government for capturing and storing carbon. So I don't know. This is just so typical to me that in the us, we love to Do the easiest thing and put Band-Aids on things rather than going to the root and changing the way you know and all. So obviously they're making huge money so they don't want to lose money and so they're going to do stuff like this. And it's all like secretive, like Occidental doesn't want Chevron to know because then otherwise they get into bidding wars with these Farmers or these people that own the land and then it cost them more money. I'll have to spend more of their record profit. The only thing that seemed to work just see to to alter Behavior was a covid. That was the only thing that seemed to shut everybody up. It was like a the world took a little siesta break from the heat. There's great stopped stopped, stopped running engines all the time and I do. Yeah. That's seems to be the only, the only actual thing that could work in this fight. I do think it's interesting though. That the The business model is effectively the same as nuclear waste, which is well. Bury it. Just, just put it back in the ground. I mean, what gonna go wrong? What? I don't get about. That is, like, that has to that has to call have it affect. There has to be an eventually that right someday. Not maybe not for Our Generation to worry about sure one, sure. But that, yeah, I'm hoping it's just a lot of diamonds. I'm hoping he's like compresses into a whole bunch of diamonds. But is that a good thing? Yeah. Well then then we can get minors who live in the area is to go digging for the diamonds, and then make the seats. Are those companies Rich? Yeah. Somebody's got to get rich on this. Oh, I, I would say too. There is an irony here because while they're land grabbing to bury carbon dioxide they North Dakota which famously of the Dakota access pipeline Terry Branstad and Iowa, they got like greenlit by everybody permitted by everybody and the federal government had to stop. There were protests I don't know if people remember this. But protests from indigenous people and Native Americans North Dakota, just refused a permit from a carbon Solutions company to build a car. And pipeline that would transport the carbon dioxide from fracking sites to these holes that they want to bury it in. So yeah, in the argument being that it's destroying us, the argue. They are you arguing being that it's destroying to you the environment and all. So that property rights that like where everybody was happy to have oil flow through their backyard. Carbon dioxide pipelines. Are a bridge too far. Oh, all right. Okay, next one. Next one, scientists found a massive lithium deposit inside. Ancient us volcano. That could be a game changer for American clean energy. But, but spelled disaster for Native Americans. This was, yeah, this truly feels like one of the most exhausting headlines that I've ever covered because isn't this, like the history of our country. Like here, here's a, here's new land here. You have the opportunity to grow your well, that have freedom. But, Were it's going to be at the expense of the people that literally already live. Tell me why what do you mean, why you're just gonna go in the expense? Okay, for this story. All right, so the McDermitt Caldera, which you. Probably never heard of. I've never heard of it located along. The Novato Oregon border is an. I might have heard of it. I might have. Okay. It's an extinct volcano. It hasn't erupted. In million years. Oh yeah. I that's right. I saw a documentary about this book and it was like a super volcano. Okay. Yeah. And so it's very very dormant, it's extinct but lithium Hunters have just discovered that it has a very the landscape Kimball musk. Yeah. This volcano has a very high percentage of lithium in like the clay or the soil hot. It's much higher than where they're already getting it from, which is, I don't know. It's sort of getting it some sort of clay that their their mining. Okay. Getting it under a 95 overpass from a guy in a trench coat. So because of this High concentration, it's estimated that this extinct volcano could contain 132 million tons of lithium, which would be enough to meet Global demand for decades and all. So means that the US wouldn't have to rely on other countries for lithium where right now, we don't produce much lithium at all. We do rely heavily so then the thing is, is that The local indigenous communities. Say have shared that this is sacred land, they harvest traditional medicines, they get food from this land and supplies for sacred ceremonies there's tombs. There's their ancestors are built there. So that's that's the biggest thing they're advocating against. But also this is right near their land and like an extraction methods like anything else can lead to water pollution land degradation, groundwater contamination, all of that stuff. And right now, interestingly enough 79% of lithium reserves in the US are within 35 miles of Native American reservations. So like that's not. That's an msci, sustainability Institute, stats from the mothership. I'm sure this is not been studied or maybe not revealed in this article, but is it, is it, is there any possibility that extensive mining in a dormant volcano site? Could lead to like increase seismic activity or could. Could I don't know. I mean, what do, what do we know about this? I mean, I what I remember about this site is that, that the, if this ever were to become a volcano, again, it would basically destroy most of the US, like it is such a Super volcano? I mean cool. Something do we need to? Well, I'm trying to say is, do we even need to be mining there in the first place? Like, we know what? We know that fracking it, led to like a lot of seismic activity, a lot of like small earthquakes and so they're calling supplies calling. This the biggest gold. Mine find of the century. That doesn't sound good whenever we discover anything that can be mined, I feel scared. I know same same and of course like It just, I mean, of course, it's all of these areas where lithium is going to be. Mine are lands that. Don't we have taken? What? 99% of the land of this country. Like their lands that don't belong to us. Come on. Like why? So anyways, this feels super exhausting to me. Yeah, this is why I know I've ever buy into this. This whole like this whole thing, like specialist Elon Musk thing about how ev's or saving humanity and saving the environment, because it really just keeps us reliant on on Audible use. And, and looking for things like lithium mines and doesn't solve anything really, I don't know. I do like that the without ironing. What I'm sure is a bunch of white guys with mining companies are really anxious to move in there and then the name of the past they're anxious to move into in the Native American language means rotten Moon and it was derived from a 1865 Massacre. Of Native American tribes that live there. Yeah. So I just like that. We this is like, This is par for the course Jesse. These are these first two stories are. Do we need a dead? One. This is For for me. But I read a bunch of headlines over the past few weeks that kind of sound similar. But here's the one from this week, Frontier Airlines, CEO says pandemic, pandemic made workers lazy and less heard octave. People are still allowing people to work from home, all the silliness, right? That's him. All right, so Frontier Airlines CEO old white, man, you know, of, so, like, of course, when I'm seeing these headlines and I go to look up who these CEOs are they're all old. They're all white. They're all men. And I just feel like this is a very narrow sighted narrow-minded opinion. That doesn't need to be shared. In the form of an article like if that's what you believe keep it to yourself, but the reality is you know, work has enabled, women specifically to be more empowered at work and to better balance all of their responsibilities. Where typically Careers are there's this proportionate impact on women in the late the life of their career over the life of their career, because many times they have to choose advancing their career or caring for their families. There's that vicious cycle. They're paid less, they receive fewer promotions etc etc. And what a statement like this does, is it fuels all those other people that are like, yeah. Like they're right, everyone's lazy, we need to go back to work without actually thinking about the privilege that he has to make that. First of all, your CEO, you probably make millions and millions of dollars running an airline and you're not thinking about anybody else or the impact of making a statement like this. So, This is me off. I've seen a bunch of them. I'm annoyed. I'm exhausted. Shut up. Yeah, go. You know, there was a another story. I didn't pick this week that someone was similar. There's a CEO at Australian Tim gerner who runs something called the gerner group who was, who had an event, That he thinks that the unemployment should increase by 40 to 50% to create more productive workers, of course. Now he's already backtracking in apologizing but we got that. Obviously he I don't know what the apologies for because saying it You know, he realized how insensitivity he meant it. So the apology is hollow but that kind of sort of a similar story there. Yeah. Just get to talk out of their ass without recognizing the privilege that they have and it's exhausting. Yeah, the problem with the story is the Frontier Airlines CEO does not matter. He is. But so he get, he is his company, he matters enough to get. He has 7% of the influence on his own company boy. What is that? Right? Because the company is actually run by Bill. Frank and Brian Frank, a father and son who owns several Airlines and affectively holding company that invest in Airlines. They are the largest shareholders. They have all the influences. They have 77% of the combined influence of this board and not only that but they sit both of them are the sun is the chair of the nominating committee and the father is a member of the nominating committee. So they literally pick who sits on the board and who the CEO is. So when you look around that room, Barry Biffle. The CEO of Frontier is not the guy who's calling the shots. He goes out. And he says isn't this all stupid hahaha. I think he's got like a chip in his mouth. That's controlled by the father son Duo. That's what I think. All right. Um this one is easy for me. It's lithium. I don't like see how Like we have a underground land grab by oil Giants. Lithium mine, discovered in the in the in the west and Another CEO calling out lazy worker. So, you're going for lithium, it's got a lithium. We're going to do. We're gonna stomp on a native, American group, again to get the lithium and we'll have lots of reasons, justifications. We may even pay him eight cents to do it and or four beads or whatever we traded for Manhattan, it's going to be horrible. It's going to be horrible, it doesn't end well. Yeah. Yeah, for a week a clean sweeps because that one sticks out to me too because not only what you're saying too, but I also see this Kind of like you're talking about the first Story. Jesse, it's another example of We refuse to sort of refuse to address Behavior, refused to change Behavior. We just adhesive that we just steamroll ahead. The company is just Steamroller had looking for ways to make money and we we don't ever stop to think, like, you know, what do, what are we doing? What do we need? All this lithium for, what is it all about? It is just like a constant land grabs money, grabs resources grabs, there's never a sense of any kind of future planning, we're just now, we're just, we're jumping into the battery world and jumping into the EV world, but we don't, I don't know. It's just, it's too quick too fast. Too annoying to me that one, too. That means it's clean sweep. That means we're on to who won the weekend. You finally end the show. I have a long-winded one, I'll go first, I'm giving the win to all Spanish women, soccer players, so president and future, what? Present and future. Yeah. So so they're calling this. So we covered this story in the past the the head of the soccer Federation there in Spain hissing, one of the stars of the Spanish woman's Soccer Team fully on the lips. An act that she you know, claimed that she did not like in and she did not ask for you know she is taking him to court blah blah. He first he apologies to back as a college. He said he was gonna resign I didn't resign but now he's resigned. They're calling this part of Spain's. This is their hashtag me too moment. All not only that but the coach of that team was all so fired and just yesterday Spain's, women's soccer league of cold off a strike. The Opening of the season after reaching an agreement, to raise the minimum salaries in the league from 16,000 Euros to 21,000 Euros. It's not fully what they wanted and it's still far shy of the minimum salary for the men's movement. But but this kiss, you know, they're saying really is a launching pad for, you know, for to fight for so many rights into and to bring attention to so many different issues that are affecting, not only the women's players there, in Spain, but women in general. So I I I'm calling this like, a win some ways, right? I mean, there's it's it's it's it's it's their weird wins but they're there. It's a straight up when my wins no. But I'm saying like Jesse pointed out rightly the it's a shame that all the attention on their victory in the world cup is on this stupid horrible, dude. But no, but we're gonna have the movement is using it rightly to like to fight for so many things and to draw attention to, this is like I talked about Got this before. I can't tell you how many women who have come to me and complained about this. Very one type of like sexual harassment, which is men. There are men who greet women by kissing them on the lips without their permission and and most of the women don't like feel comfortable, telling them the fuk off, you know, because often it's family members or colleagues or bosses or so. I'm glad they're using this moment to say this this is a form of sexual harassment but yeah, I mean other than being super woke, I agree with you. I mean, okay, I'll give you my winner. This week is way weirder. Okay. It's IBM CEO. Arvind Krishna yeah we don't talk about him enough. Yeah. Because He was invited to the AI insight for him. Yes. I don't, how did he even get that? You have to be sitting in that room being like, look at, like I'm like, like I am surrounded by these like Larger than Life. Founders and Loud. People everyone's doing the AI, or they're all in the headlines and I'm here, I think that, okay, I have actually a reason for that. I think it's because the average age of US senators is about 942. And I think those people think, when they think of IBM, they're like God invite Arvin from IBM. I also think he is connected to 75% of his board and those people are like the board Illuminati. I actually think that like, he's got tendrils in a lot of places, but there's a Subway winner here too, which is Larry and Sergey who weren't there. Despite the fact that Eric Schmidt, the exeo of Google and soon, DARPA chai, the current CEO Google are there just despite owning the company. They don't have to show. Up to the AI Insight Forum they just had their 2p owns. Go out and talk for them. That's amazing. Arvin must be happy that he was even there. And Larry and Sergei are high-fiving that they don't have to Bill Gates. Was there. He's and he doesn't actually not like on the board anymore. He's just a Founder. Honestly it was a room. I'd be half of them. Are founder. Sam Altman, Alex, karp, Zuckerberg, musk, they're all founders. Such as gotta be sitting there with Uncle Bill, um, because he's Microsoft CEO bills. The founder Jensen Wong founder of Nvidia. And then there's Eric Schmidt and soon to DARPA chai alone in that room and arvind alone in the room is non Founders and arvin's. Like, I can't believe I'm here and Sundar and Eric are like he's your winner here for being in the just for being invited. He's my winner. Jessie, I have a much more random one, but I chose all of Courtney's patients because a study has proven that patients have better outcomes with female surgeon small. Come on, obviously predictions. Predictions. I have a oh my my predictions actually already kind of coming. True, my prediction was I test positive for covid the day? My covid, infected House member tests negative and then as the show, as we recording the show, I get a note from my wife that my daughter is being sent home to take a covid test because she's feeling, oh horrible. There you go. Wow. All right. Keep it coming to my house. Keep it coming. All right. Well, I have a prediction Disney, after months of rumors of selling to Apple and Amazon and everybody else, they just decide not to sell all of Disney or even a business line. Not like, I just saw ABC as look there having talks with next star, which is another median Network to sell ABC and instead I think Bob Iger decides to cement his legacy, it's easier to just sell the women gay and black characters from all of their movies to somebody that somebody is Apple. Apple going forward owns every gay, black female in the Disney Pantheon look. So I trust him because of that, I already wrote from their commercials. Tim Cook becomes the woke father and Igor Samantha's Legacy. As you know, the Disney savior. I think it's a win-win Glen's. An acting gig with okay. I like that. I like that. What he got, Jesse. All right, I'm predicting that Burke and stock who is due to IPO is gonna be that all birds or Doc Marten, which all so flopped. Martin flop. Yeah, I guess you don't really see dog Martin's anymore. Do you know? Well, I'm just saying their eye, their stock price. They're so I will IPO strong and then the stock will take six months later. I think this only, it looked up their directors to see if I can find anyone. There was a few that I could find one being Alexandre, arnault. Oh no. Yeah, yeah, Bernardino baby. Obviously, he also sits on the board of care for our just like that, I like, what gestures? I mean, but he's a very mediocre performing up a baby with a batting average of 0.368. So if this is indicative of anybody else on the bus, stop board, don't have high expectations for leadership decisions and yeah, I'm calling. Well there's a real thing going on right now lbma and I think Bernard is deciding which what It basically, to hand the Empire over to. Yeah. So it's a Murdoch situation. Well, that that might be the best of the predictions. The other ones, although Damien's is like, literally to come true soon. Oh, and I do one every six or seven weeks, I gotta come strong. Know that's a good one. That's it for the seven hours of free float. Media's business pants, free floats, business pants. This show was sponsored by free. Flow analytics.com, go there, sign up. Get the board data that we talked about the CEO data. We talked about, it's all there. It's you can look at it, you can play with it, you can do things with it and you can contact us if you like, what you heard do, nobody, I ask it once like a quarter, just write the show. Just give it a five star. Tell somebody about it do something give a review, right? Three words that are like, I love this or they suck five stars, like, whatever, something. Yeah. Because you're, you're lazy and boring. If you don't, otherwise, we'll be back next week. Hopefully with Damien pre-covid or with Damien post covid, we'll be back on Monday until then.