Transcript
Live. Live from Matt mascardi, 12th, floor, terrarium. So I didn't know. He put on 12th floor. It's the only ESG adjacent game. Show ever made business pants. Thursday, of course, I don't think we really have a game show today. Is it a game? It's a game of life, and you heard who were joined by today, we are joined by are the data Queen and Jesse the money Whisperer. Hello. It's like a pre Friday show palooza party. In today's social media explosion called June 8th 2023, we'll cover a few ESG headlines and then Jesse the money whisper stops by to discuss her new social media series. She's laughing but it's actually actually we were we were just an old social media. That's true. It's our first social media series here free float. We were actually discussing it in the car on the way home from her Fringe performance last night. We're all very excited. Oh yeah, Jesse was the star All right. Let's get to a show, let's get to a few headlines because Ari told me yesterday that she likes to cover the news through me instead of reading it. So it made me feel good about myself for once. Please. All right, here we go. Let's get to the headlines wildfires, haul And Delay flights from New York to North Carolina, smoke blankets, the Eastern seaboard. These are massive Canadian wildfires. They're saying the massive smoke plume choking, the Northeast United States is what climate change. Looks like I don't have any smoke up here in Portland. Maine. Not really. Oh that made air is still I don't know what's going on. How was it for you two in Hartford? It's pretty choking. Yeah, in your face. Yeah. Yeah. smell the smoke aggravating me is like I was around a bunch of people for volleyball the other night and they're like, Hating on Canada. I'm like you guys hating on topic. The topic is climate change here, let's just get well on things straight. They're like, freaking Canada. I'm like no, I mean this is the only thing we can hate on them about I mean Canada's probably saying that about us with California and Oregon we're always having fires like would you go? Maybe we can go more into depth about this tomorrow. Because there's a suggestion online that this is either the effects of climate change or the effects of poor forest fire management or both. So I haven't done the research. I'd like to look to dig into it a bit more and see I mean if we let indigenous populations do what they do best and can be in fires, but we don't do that. We don't trust them. We're also not Canada. Yeah. Meta has set up, a task force to counter child, exploitation following a Wall Street Journal report, an investigation by the newspaper and academic. Researchers found Instagram promoted, child, sex material, highlighting the failings of big Tech, firms. And regulating the spread of illicit content and online. Here's a quote from meta. We are continuously exploring ways to actively defend against the behavior. And we set up an internal task force to investigate these planes in immediately address them. We're committed to continuing our work to blah, blah, blah, to protect the blah blah. Here's why. Internal task force will never know what happens here. Yeah, here's what scares me about this. First of all, it took an investigation about the Wall Street, Journal, and academic research for Facebook Instagram. Well, meta to figure this out in the first place that scares me second. Secondly, as we talked about a lot yesterday, Ari, this company is Mark Zuckerberg. When is it time to end these oligarchies these dictatorships? Because to me, that's the problem. Like, you're asking Mark Zuckerberg to set up an internal task force. He doesn't really have independent oversight over anything. When is it too much? Like when is enough enough, that's what gets me going about this. I think there was a shareholder proposal, the dealt with this? Yeah, you're right. A report about children's specifically, I don't know if it was in, child, exploitation context of sexual contacts, but it didn't even get like a third of the shareholder vote. Yeah, this is not the first time this is come up. Yeah, internal we're never gonna know what's happening so this is this is not matter. Yeah. And this Segways me to the next story, which sounds very familiar. Bite dances, former head of Engineering in the US is speaking out Yin Tao, you said, Communist party members access data on us users as well as protesters in Hong Kong to access was possible due to a super user or God credential he alleged. So he's saying that Communist party members have a god credential, but how is this different than Facebook, right? The owners control the data Mark, Zuckerberg controls the data, the Communist Party controls, the data, blah, blah blah. Again, these things can be regulated out. The biggest providers of social media Services. Don't have to be controlled by single entities. We can regulate this and this is not going to come as a surprise to anybody, right? No. But yeah, you're right. People don't make the connection that Mark Zuckerberg, you know, just because you put communities party or China around it. It this is what's happening in the US with the US companies as well. Yeah, I mean we could be xenophobic, we can be racist, we can be anti-common whatever, all those things are nonsense. Like it's still, there's an equivalency and that is that there are powerful figures ahead of these things as opposed to democratically. Run organizations, right? No regulations. Write another story we talked about yesterday, re the headline is that on me. Warner Brothers Discovery, CEO sent email to CNN, employees taking responsibility for the Chris lick disaster because the CNN CEO was fired yesterday. But what does it mean? When a CEO takes responsibility and he still keeps his job? What is that mean? I don't know. With his whole pay package. And yeah, I don't even, I don't get any meaningful, right? What is that gesture? All right, that's on me, everybody gets an extra week of vacation on me. You buy around forever. Why not? Why not a day off? Ari. And I kind of joke. We joked about their succession planning. Yesterday, Ari, for the new CEO of CNN, they we joked that there were three people in the intern leadership. I was wrong or maybe they've added a fourth. There's actually four people now Ari. Oh my God, two of them are women. The reason why I booked mark, this story is that I think we have another glass Cliff alert. I think another fail or organization is going to put a woman in position to try to solve everything and it's it's like an untenable situation. Well, you know after this all major works, or now, Led by women, and it's a difficult position to be in because cable news is failing, right? Exactly. Yeah. So good luck. Good luck. Reviving, CNN, good luck. This is a whole like industry glass Cliff, right? Exactly. Finally. GameStop stock is down after the company fires, CEO, Matthew Furlong and names. Its shareholder activists that they call them the meme stock activist. Ryan Cohen as executive chair. Here's why I pointed this one out because I was looking at our data and Ryan Cohen, the largest shareholder, controlled 61% of the influence. According to our data, the CEO Matthew Furlong only controlled 12% of the influence. This is what happens at companies like this, right? The CEO has no power. So, yeah, it doesn't surprise me this happens. Doesn't surprise me that the stock is down because of this mess. So I just want to point out that you can through our data. You can actually know who's actually controlling the board only with our data. So is he gonna meet a lot and make this Taco? Go up. Oh no, that's a good question. That's all I have that's those are my headlines for the day. Very cool. Thank you. Thank you. Let's, let's segue to our new feature here at free flow. Jesse the money Whisperer has started a new consumer series on social media. What first of all, what welcome Jesse what? Let's start at the top. What is does this series have a name? I'm calling it. The consumer to Consumer decision series. It's kind of hard to say though, so I may have to respond decision series. It's also a little While it's what it is. It's where will the next explanation? Where will you be posting this, this series, okay? So it will be tiktok and Instagram to start and eventually YouTube. I need to get it up on. Why not LinkedIn? I guess LinkedIn too I gotta get up on all First first, we're prioritizing consistency you know and then and then we'll focus on dissemination on all of the channels. So tell us what the series is. I'm actually very excited about it mostly because a I love the topic, I love that you're using our data using Ari's data or is the data Queen, you know, and you're genuinely excited about this. Yeah, I am. Well, yeah, and Aries that's gonna make a good series but this is, yeah, you're excitement is gonna make this pop. So, here's the cool thing. I've always, it's been years. Is now that I've been trying to like align consumer decisions with my values because that's important and, you know, you can vote with your dollar. So that has been important for me, but it's very challenging to find transparent data and things. I mean, there are apps out there now, and there are certain resources, I've come to use when I'm like, say, trying to buy a mattress or like these bigger purchases. But what I realized recently is that oh my gosh, my privilege is the company that I work for and that we have data on public companies, which own most of the brands. And things that were trying to buy from. So I was just that was kind of the impetus of this was like, oh, I'm always trying to align my decisions with values and make better decisions that I feel better about like spending my money on. Why don't I try to you? And then all I'm trying to get more into the data on familiarize myself with it. So I felt this a really good exercise on like, this is a good way in for me to start really using our data in a meaningful way, and the metrics data. Yeah. Board paper. Matric data. Yeah. And there's a fabulous example of that that we will discuss in a few minutes. Can you give me the overview of the series? I know it's a multi-part weekly series so one of the least explain what you'll be doing each day. Yes, so we're gonna try to do a video each day so we did an intro video you can go check that out. It kind of explains it but day one we're going to introduce what decision we're looking at that week. So Monday is, it's going to be like, okay, what are we looking at this week? What am I trying to buy? What someone on the team trying to buy and then we're gonna go and look, we're gonna go somewhere and try to find it. So, we're gonna go locally and, and try to make that consumer decision and see what our options are. So we're going to get all the options and that process. Yes. Yes, I will bring all of our audience along for that, then we're gonna say, then we're gonna kind of do our own research and say, okay, Seems like there's a lot of Brands out there but who actually owns these, like, who am I actually supporting? When I buy a Kleenex, for example, or I buy, you know, this brand of suntan lotion like who actually owns that and then we'll do some research on whether I want to actually be supporting them. So then I'll look into board, Sabrina Patrick, specifically, I'll pull up the data, will look at the directions to sue actually. Write to see who runs the companies themselves. Who runs it, what are they into? What are they up to? Are they in headlines, all of that sort of stuff that we like to cover anyways and then Friday, our last day, we're going to wrap it up and I'm gonna give you like a A kind of like a roadmap on. Yes, I'm gonna support that initial product that I thought or no. And if know who do I feel better? About supporting what, company, what brands? So you're committing to buying something on Friday and sharing it with the audience. You're gonna buy something. Unlike me who can spend seven weeks, buying a dishwasher, you're gonna buy something on Friday, I want to try to make a decisions. I mean, we are gonna cover some bigger decisions if they're coming up, but I want to try to make it actual things that were decisions that were facing on a weekly basis. Okay, maybe dishwasher gonna be part of this because it totally shit. Well, it should be. We know what's worse is that we're gonna have to buy a new car soon and Aries. Wow, excited about electric car so that's gonna be way worse for me. That's perfect. I want to cover math cartoon even though. he's already purchased it, but I wanted to do a little like Verse EV because you know, we have I hate to admit it but we have to Tesla and he now has the Hyundai. So we're going to do that. That's spoiler alert. I wish you would serve this series before you bought the Tesla Jesse. I know I wish I worked at this company before I bought. Yeah well we're just leasing it so we can redeem ourselves into this. The series sounds great because I love the hand wringing of consumer decisions Ari and I talk a lot back and forth about these types of things about what to buy why. So I love that you're doing this. Jesse, I love it using our data. I love that. The first series. You're already found some interesting overlap with our data. But what are you buying this first week? What is okay. so, it just so, Happens. First week, I'm Buying menstrual hygiene. Products, I'm at the store. I thought of this idea and then it just, you know, coincided perfectly. So we're getting right in to a very complex topic already. Okay, give us a few highlights from your week so far. Okay. So the reason why this decision stuck out to me as something that I wanted to spend a lot of time researching is because as a menstruating human Say we use tampons, we're going to use over 16,000 of them and every single month, we're going to be putting products into our bodies. So to me it's very important that I find one so many. Yeah, right. So yeah, there's a lot of things that come up. So, safety environmentally think about that certain brands are using better products and more environmentally friendly products. But yes, safety was the big thing for me. Like, if I'm putting something in my body, I try to really prioritize putting safe things in and on my body and my skin and stuff. So this seemed like a really great thing to. I mean, I was gonna spend a lot of time researching it for the purpose of the series. And I was like, what better than something that I'm gonna use for most of the years of my life. And I'm gonna consume a lot of them. So, and I know that there's a lot of chemicals in a lot of the products there, and I will say another, Reason why it's a good first product is because there are so many brands in the stores. Well, first it is a saturated Market. Yeah, yeah. I don't want to get down the rabbit hole of it, because, when Jesse and I were first discussed this, I started to ask questions and this will be another series, but I started to ask her questions. Why did you pick Target? Why did you go to CVS? Why didn't you go to Walmart? What did you order Amazon? Why didn't you go right to the local retailer? Or what about a independent Farmers, but you'll cover that and and other weeks? Yeah, we're gonna have to But the cool thing about tampons is that there are all these, they throw all these brand names at you and it gives us an opportunity to map the brand names to the actual Corporation, right? Because that's the thing. That is the easiest thing for consumers to miss, is that these brands are attached to corporations, right? And sometimes there are several brands on the shelf that you think are different, but they're all controlled by the same people, right? It's the same right, CEO. It's the same directors. They're just selling in different directions, right? Yep. Just repacked it, put us. Different color on it. So yeah, same boardroom. Yeah, that's the old boardroom. Yeah, let's go through the big three that I found. So when I was in Target and I was scanning everything, I, you know, took videos pictures, and then I came back and I looked up all the brands. And their, what I found is that Target actually has a decent section of small business products, which will cover later. But 90%, I would say, 90% of the products are three main players. There's Kimberly Clark, Procter & Gamble, and edgewell, which is a spin-off from Energizer, weirdly enough batteries and menstrual hygiene. Yeah, yeah. So you have like your shirts, you insert batteries, I guess. It doesn't method. There's some overlap their title. The same shape. Sure? Right. I mean, I wasn't gonna say but yeah. I guess. Um, so yeah, we have like some of the big Brands like Kotex is Kimberly Clark. And then we have Playtex, and this is L which will cover in detail, our Procter and Gamble and then you have Tampax stay free Carefree are the edge. Well, okay, products. So even there, you think that there's a large variety, but really, it's three entities. Yeah, and, you know, they all have like, like Tampax will have five different types of tampons or pads or, and then Kotex has like six or seven in their family of stuff. So, it really looks, I mean, if you look at the videos that I posted, those aisles are jam-packed with stuff. I mean, there's crazy, it's too high. So if you walk down the aisle, both sides of the aisle are all products and all sorts of different things, so it really does look like you have a lot of choice, a lot of options and then therefore a lot of friends choice if you don't have Corporation Choice. Well, you think you do well, and that's what was that was, that's what was most interesting. And then, another small tidbit is that once you look up, who who's the major shareholders of those Three main players, you're realizing that it's all owned by BlackRock State Street the your big your big owners I mean they all ostensibly own everything anyway so that's right. Yeah. So why don't you tell us what you honed in on and why you? So you you were talking about how safety was the most important. Yeah. So just for the purposes of like keeping the series short and digestible for social media, I focused on one main value and so I picked safety like above all. This is something that's going in my body, so I'm gonna pick safety. So I will say, well, I was gonna say that and this is why another reason why ESG data is is not political not, whoa, it's not anything really because That might be your Value Point, you know, my Value Point might be diversity and Leadership or my value, my moment. Yeah. Environment might be just is it a good company with a great share price? I don't know, I mean, maybe I investigate who knows, who cares. I mean, it's but there's all kinds of different value points here. So yours was safety. So. Yeah, go ahead. Yep. So, yeah, I, I honed it on safety. So what I did is there there were obviously a couple Brands small business brands that I knew that I knew of, but I, I Focused on these bigger Brands and to see if there's any in there, that would kind of pass my inspection or that I would grab off the shelf and think, oh, this could be good for me. So what I found was, there was a brand called This is L and they advertised 100% organic cotton tampons with bpa-free applicators. So I put a little picture up in social media of me holding the little box of tampons and it's to prove that you're alive and that you exist nicely branded to want to prove what they're advertising really and and what I saw and what kind of Drew me into it. So I was like okay cool I know organic Cotton's important because cons very heavily sprayed in the US. So that was like a big selling point and then you know the plastic is around the continent. So BP free pretty good. So I felt decent like I could have had I not been doing the series I could have picked that up. And left the store with, it was a great price point. Comparatively to some of the other small business brands that I already kind of knew. Well, I I knew it was a big company so I knew it was owned by Procter and Gamble. So I was like, I just don't know like I am going to Go go back to work. Do our due diligence, which I was gonna do anyways for the series and see if I still felt good going. Use our data, Jesse, come on our data. Yeah, exactly. Oh, that's what I meant. I was going to go immediately a little bit more sabermetrics, template that Ari the data Queen has beautifully made for us and it's very digestible. So, even a non analysts such as myself, can open it and use it soon, even it'll be even better because it'll be on a totally for totally investors. For institutional investors. Yeah. Yeah. And once a platform is up, I'm gonna include that in the series 2. Like I'm gonna go on and show the audience, how I'm finding it. So, what did you find about Procter & Gamble that stood out to you? So, I went to, I opened our data and I opened the template. I chose Procter and Gamble and I was like, looking at both the directors and the company. So I was like, looking at director metrics, mixed with company metrics and I scrolled all the way down to like our metrics which Are like when overall win rate TSR ibida carbon intensity and controversies and they do. So I noticed that all of the directors were below average with their overall win rate. However, their ibida and TSR like, their financial metrics were great. They were above average and I'm like, okay, what is bringing them down? And then you go to controversy and you see that they are just deplorable. Like, they must be in the news all the time because they have point zero, five, six, seven, whatever controversy rates. So that was like a red alarm for me. So maybe all that Ari, talk about that. Talk about the data a little and all explain. Tell us about those that controversies batting average. Are they are so bad Damien as a board as a whole They're 133 and this is, that's the average. Yeah, and I'm quickly looking at Kimberly and Clark, just for a comparison there at 382. So yeah, that is even even worse than that is Procter & Gamble. Yeah. So Procter & Gamble's and Consumer Staples, right? If you look at just large and mega cap Consumer, Staples companies of which we have 122 of them. They averaged, their batting average is a 539 collectively. Oh, really? It's that high, it's that high. And we're talking like the Walmarts of the world, Costco Coke Nestle. Kroger like all Are in this group of 122, right? And they are just so Episcopal compared to their peers like what? Are they doing that? Is that much worse than everybody else? Right? Because all these other companies are also on the headlines, I hope. And the headlines, a whole bunch of tools answer that question, Jesse. Now that we know what what's going on at part-time, but what are they doing? That is so bad. Like, dude, these things involve safety. Yes. So what I found. So once I found out that there's some something going on, there's something in the water there. I did some you know, really journalistic Google and I googled, are you, it's very Advanced. I Googled. This is L tampon really non-toxic. We've been there. I wish he had asked Jesus. I should have, I should have asked you for this. She wanted to google. There's another thing I can we could have as a topic as cheese versus Google. But yeah, I went and within the first I want to say first like Five or eight results. There were two lawsuits that came up. There was one class action one civil against Procter and Gamble, which is obviously the owner of this is l. Saying that when you flip over that the it's in like an oval box. But when you flip it over and look at the ingredient list, there's very small subtext. That lists other ingredients that are not organic. So I don't know how they're able. There must be some, some sort of Regulation, where, if it's below a certain percentage, they're still able to put 100% organic, but the fact is, is that they're not 100% organic, so both. Yeah, our dressing. Oh, amazing. That is, I mean, just by just because you went to our data and smell the rat with the controversy LED you directly to this information. That's incredible. Correct. I find that credible. Yeah, I just say why. Yeah, go ahead. Go ahead. I was just gonna say, I mean once I saw that, I was like, I already kind of had the right alarm, but I was like, yeah, I can't, I can't support these. So that made it very, very easy for me to make that decision. Okay, so, So we'll and we'll fight for. I hope people tune in to Jesse's web service because we'll find out tomorrow. What you ultimately do buy is that right? So well, I'm guessing it's not the Procter and Gamble product. Is that it it's not the Proctor and Gamble. And luckily Target did have some options, but I am going to list out like I did a bunch of research, okay? On some small businesses with different sort of emphasis and whether you want like a women-owned black-owned eco-friendly. So I'll have a couple options for different tags if you will and consumer. I did not realize that I could read 100% organic and not get 100% organic. And not still flip over the place. Yeah, I mean, that's more right. I mean, yeah, it is. But there's also, there's also So yeah, we're gonna go into, like, I do want to touch on who we can be mad at here, but go ahead. There is there's a couple parties, right? Like there's obviously people in Procter and Gamble that we can get mad at and I will list them, but there's also like the fda's come on. Tell me somebody okay. Okay, okay. So we have we put, you know initially okay initially I was like there's got to be all men on this board because typically you hear like okay there's men making decisions about women's health and I'm like, okay there's got to be all men on. That was my assumption. And then I opened up when I was going through our data, there's actually quite a few influential women that sit on the Procter & Gamble board, okay? And let me get their names up. Why would I do know the man? The the CEO is a man, right? Ari. The CEO is a man. Yeah, yeah. But so I saw looking at our data, I saw that there was a handful of women that had decent amount of influence and then I wanted to take it a step further, and look up the actual committee that is supposed to be protecting consumer, as they're safe, they're health. So, I found that there's a committee called P&G governance and public responsibility committee, right? So out of seven people, five of them are women. There's only two men on that committee. And here are the three women with the top influencer, you have Angela braylee 13% influence, Deborah Lee 11% influence Patricia wurtz, 10% influence. So but that's pretty influential women, right there. It is. Considering they have a big relatively speaking. Yes, but I'll tell you that there's clearly a bit of a shitshow going on at this company. Because as of last August, their last proxy statement that committee only had four members. Now, there's now there's seven members on the on the committee and most corporate governance. Research will tell you, that, that is way too many more, right? It doesn't even represent a subset of the board really anymore. It just represents, they're just clearly throwing a bunch of people at something. They're not necessarily experts in this area. But Ari, and I looked that up because when when Ari and I realized that they are, we all realize that they were Adding role we were like, we'll do they can they help with this controversy problem or and no, Sheila was like head of the World, Wildlife Fund or VP there and then the chair right? Is she the chair? She know. Okay, she was just added, I just added, I'm guessing. She doesn't have like a ton of influence but that and then Robert was was a former Senator. So, I mean, not great with controversy, I'm sure. Well, what he might be good at is, is changing the regulations to let Procter & Gamble, get away with more crap? I don't know. But this again, these are like, this is interesting stuff because you again, when you start to look at The Who Behind things you do start to see these stories. Develop. Right. Yeah, yeah. I mean I have I just have so many more questions now and yeah. Unfortunately a lot more distrust, but that's why I think the series is so important because whole cover, a lot of everyday decisions. And here's why it makes our data extra cool. And I think Ari for that because Procter & Gamble, actually, has a kind of a strange proxy reporting schedule. Most companies release their proxies in, you know, March April and they have meetings around now or may Procter. Gamble is actually due to release their next proxy in August, which means they're meeting will be coming up in the fall. Which means just if you were an investor in Procter & Gamble, you would actually be able to exercise your anger against the city. You could look at our data figure out who has the, who has the most influence that you want to Target. I mean now would be the moment for you, you know, as an activist to kind of write to vote your shares about your vote your mind here. Yeah, yeah. That's amazing. That's so awesome. So yeah, I mean, when I got angry and all fired up, I was like, who do I direct this at? That's what working here is taught me. I'm like, I need to find some names that I can direct this. It sounds like it's the shit show at the end and little, did you know that it was gonna be so many names because they just took everybody on this, right? Totally. Yeah, totally. Yeah. Yeah. And situation doesn't seem like they're actually doing what their assigned to be doing. Thank you, Jesse. It sounds like we will hear tomorrow what you actually do end up buying. You can you can fill us on the Friday? Show will be back tomorrow for the Friday shows. Is there anything else that either one of you want to add to this? I'm mad at the committee. I mean, the whole thing's going down and the CEO John Mueller. He started in 2021, he made 42 million dollars, in realized pay. He's already making that. Wow, right. And like the average again for this sector. For this size is 11 million. Like he is fifth. He ranks fifth, come on, I'll tell you where these these boards can be confusing because you're right to point out Jesse that there are a lot of women on the board with influence. But again, the main roles John Mueller, Mueller, Ari, he is the CEO and the chair and then the lead independent directors all. So a man, the company is clearly doesn't have the confidence to put women into actual power positions fail. All right, anything else from you? Just see tell him again, where they can access all this. So right now you'll find it tiktok and Instagram were at Fruitful Media or we're at business pants on tiktok and at Freeport media on Instagram, but I will work on getting it up on LinkedIn as well. And okay, we could start a thread. We're also going to I'm going to be recapping it in a blog too. Yes, because there's a lot of Church that goes behind, this is a lot of data. There's so we're gonna push that out onto our website too bright through a Blog, right? Exactly. Yeah. Yeah. Visual or you like to read, whatever you. All right. Cool. This is a great first kind of retail use case for the board symmetrics data. So it's nice exciting. if you have, That's true of things or topics or products. You want me to look at Handy bars? Candy bars, email us. Inquiries at free flow, it'll come to me. Yeah, candy bars. Chocolate is a big one's a big one. I want to know about metals and dark chocolate tea. We could go into tea. Oh my God, there's just so much. I want to know about my beloved Kit, Kat bar. Because that's really the only cat. And you know what? I'm gonna cover. I Gotta Buy Ari a baby gift for her. Oh no, that's her. Yeah. So I'm gonna you better believe. I want to get her baby. Something good and safe. And I know how to get her baby, something good. You it's called never buy. Anything is this? I'm sorry. But it's the stupidest thing you could ever. Should I go shopping? My sister's basement? And absolutely, absolutely, not wrap it because he's doing a non, our I encourage youths Damien. Just of course. Thank you. Ari and Jesse. Thanks. I will see both of you tomorrow. Yes. See you on the Friday. Show I show. Bye. Thank you. Bye.