Transcript
Hey, hey. Oh, this Monday? I was meant to be so full but it sounded mournful. It's Everybody Monday. Ejected dog. What it sounded like? September 28th 2020. This is the time where Matt sounds surprised that it's September. It's I'm it's almost October. Whoa. How's it going? I'm at maybe I should do a check-in. I should do a personal check. And how's it going? It's Good. I have my coffee. We're doing our morning coffee show. Right. Morning Coffee, brew. This is morning. Nugget coffee. You coffee. Are you listening Bloomberg? Don't you want to buy us? I think they do. Let me ask you one question and we'll do the show. Are your kids at home or school like what are they doing? Where you at hybrid? So, they do one week on one week off, but today is Yom Kippur. So school is closed. So they're just running around the house like crazy people. Right? Because a Catholic Family from Connecticut deserves Yom Kippur off is everything. I mean, I don't know about deserves. I don't Care if they get it off. No, no, they're taking our our holidays good for you. All right. This is our Monday morning list. Show hated by our number one fan out there in the west coast but we don't have anything else. Greater I kind of like the show because of this reason, because it just lets us like, see what, you know, the people who are paid to do this or actually talk about are actually Force feeding down their readers. Throw it. So it just gives us an opportunity to tell you what you should really care about because we are the golden pundit of the business world. Yeah, I I think that's correct. That's right. The guy read that in the Wall Street Journal. All right, you ready? Yeah, let's do this. What do you want to do? Do you want to start with the top stories from Google Finance? Or do you want to do the 10 things and Tech you want? You need to know today? I actually, I just want to focus on two of the things from the top stories of Google Finance. I didn't, you actually looked at this first, I'm looking at it now. Okay, I'll read them quickly and then stop me when it's time for you to chime in doubt. Future search more through your points. Who cares? About 3,000 dollars. These high growth, ETFs are begging to be bought, oh my God. Don't listen to that. The Molly full really there are really our bunch of bulls Uber can continue operating in London. That's interesting, but not great. Claiming Social Security at 62 makes complete sense. Any of these factors applied to you, honestly even exist. How come we have like 20 listeners? Oh they have millions or horrible? Amazon Prime day set, for October 13th, and 14th. That's from CNN. What you think about that? That's Go. All right. Amazon Prime day. Also known as line. Jeff bezos's pocket day. Oh, do we need Amazon? Prime. Day is every day. Amazon Prime day. I mean, I'm embarrassed to admit that I'm a Prime member mostly because I tried to quit it a few months ago and I couldn't figure out where to put my ridiculous. Library of photos because Amazon Prime, let's see, sort of their for free. I don't even need those stupid photos but so I kept it, I just canceled Prime. I am a proud counselor of prime better, you're good. Yeah well we did an estimate a few weeks back, maybe six eight weeks back now about how much money Prime day makes Jeff, Bezos is a 16% shareholder, and Amazon and the founder, and he makes by himself like a billion. 1.2 billion dollars on Prime day, but he gives it back to his employees. I'm guessing in options and restricted shares. You respect Prime day is also the number one strike day for Amazon warehouse workers in Germany. They have gone on strike, I think three out of the last four years on Prime day or just before Prime day in the Americas, they've taken up the call. This is the number one day, where you read stories about how terrible the working Conditions are for Amazon warehouse workers and this year because the pandemic Amazon's hiring hundreds of thousands of more workers to live. Terrible lives. So the the cost of prime day while you think it's, you know, Great. I get 12% off the rubber chicken. I was gonna buy. The cost is actually immeasurable in human lives. Lack of urination. You know, morale destruction and lining of billionaires Pockets. I think Prime day is one of the worst things. In the history of Internet retail. Here's the American perspective, Amazon Prime day set, for October 13th and 14th. Here's the European perspective. Amazon pays is growing Union. Pressure in Europe as labor activists warehouse workers. Swapped tactics over the weekend, unfortunately, chain at the retail giant, the meeting comes after French, Union successfully forced Amazon to suspend, its operations in France, this summer a little bit of a difference there. Yeah. Buying this with the fact that we're just, we're reading stories now, but the strength of the US consumer, we hit 14% unemployment in this country, as a result of the pandemic and there are stories about the strength of the US consumer. There's something bananas about the like having a prime day in this sort of environment. We talked about this, I think it's because no one's doing anything fun for themselves anymore, no one on vacation and now they have more money to give to Jeff. Yeah, I'm more of them. Don't have jobs though. So what do we, why do we giving Jeff money for? You know what? Jeff made it really easy in your downtime to, you know, navigate to his site and hit the buy now button. And that actually I've been you know I read some story and I'm not a big believer in the sort of like no digital thing for kids. Like I don't think it's a good thing to have too much but I don't believe in the terrible. I don't believe in the know digital for kids, you know? Yeah, there's something wrong. Yeah, but the fact is that all of these devices, all of these websites Facebook Instagram, which is all so Facebook Twitter, Amazon, Apple products, they're all, they're all designed with your psychology in mind. What will a dick you to this thing? What will get you to buy more to click more to stay on the site longer that Is the business model because if you go in and you're like, oh I don't really need that today or it's even one step more difficult to buy a thing on Amazon. You won't do it and they'll make less money. You are actively being manipulated in ways that are utterly unregulated to buy more, spend more. Look at your device. More and I just think, at some point I feel like everyone should maybe go read a book. I think it Prime day is the worst. So the number five story on Google Finance is my favorite so far. If anybody listeners have a subscription service called Netflix, it's a place where you can stream like TV shows and movies and whatnot, sounds amazing. There is a There's a movie called The Social even though it's called the social Matrix, know The Social Network, I have no idea. It's a great documentary about what Matt was just talking about, how they're manipulating us to to stay with our, in our digital worlds. It's it's great. I love it anyway. Keep going, you said Just One More Story. You want to talk about oil Falls as surging virus cases. Plowed demand Outlook well that's just sounds weird. Yeah terrible IHOP introduces ihoppy hour value menu with five dollar meals daily from 2 to 10 p.m. that just sounds depressed. I normally would stop on that because how is this a top story for all the physical Finance? I guess it's for only for Denny's customers. They're probably interested in that Elon Musk criticizes open AI exclusively licensing gpt-3 to Microsoft right now I want to pause there. For a second. That's the one you want. Let's go. I want to pause there because I don't want to pause there about open AI or tidbits about this too. Yeah, keep going. But I want to pause there because of the, the surgeon sort of AI related stuff. And you, you chucked me a story over the weekend about Clearview, AI. Probably the, yeah, the scariest AI out there. Is there, is there a trophy for that there? They just won it. They actually it's really close this neck and neck with palantir. But really you start with the name? Clearview, AI. I'm already scared. So here, is that why I wanted to just stop here? Because Elon Musk is in the headline, he's criticizing something, right? Which I don't think that's ever happened before before you go there. Can I give you a bit below? Fuller, background about this. Give me some contacts. One of the reasons why he voices just content is that he is actually one of the founders of open AI. Okay, so he so I, you know, I the insinuation being like, what the hell I founded this and now they're doing something that they shouldn't be doing. So yeah, it's supposedly open. I yeah, I get I only raised that because I so I took a quick peek at the board and Elon Musk. He actually resigned from the board. So I mean these, so I'm bringing this up because this is one of the reasons why we make these connections on the show because You know, if he was still on the board, he probably still have an unbelievable amount of power. So, it actually does matter who your board members are right. I mean I that he no longer has control over their decisions is. Yeah, it's important. Well, so the reason why I flag this is less to do with Open AI itself and more to do actually with the Libertarians, which is the fun term that I have developed. For the these Tech billionaires who are all libertarian or libertarian leaning of which Elon Musk is one. You have Elon Musk, you Peter Thiel. You have Mark Zuckerberg. You have the Italian? Yeah, the movie called Julian. Musketeers. Oh, the teal and mustard there, you must continue. Um, I I and and the palantir CEO and and Clearview AI their CEO. Who was there? You you sent this article about Clearview who raised 8 million, sort of quietly raised 8 million in private capital and and there's a picture of him. The this Clearview AI founder at a Maga, you know, rally. So mostly what what was interesting that to this about this to me is they're very much consolidating the sort of how I in the Sky Power in this country and maybe globally between palantir and Clearview. Both teal is actually investor in Clearview between those two who are watching and tracking your every move Zuckerberg. Who knows everything about you. You know, personally and now must who created open AI, which is a platform. that's designed to, you know, you know, learn about humans ostensibly and the way humans think I I'm a little petrified. These are like, some of the largest Republican you should be, you know, conservative donors. They're all about law enforcement and and rule of law. They've they have it a basic disregard for any of the tenants of governance. Like they don't really adhere to any sort of governance at all. That would that would make you feel good. Now every time I see Elon musk's name and AI anywhere, I just feel petrified that's why I flagged it. I don't have like a deep sense of this story in particular, but it's it's just like, it feels like the rise of Liberty and is upon us. Okay, so you're not, you know, you're not giving us any anything to do about it. You just scared. That's all you. That's all you got for us. Well, I will say this one thing I would bet embedded in that article about Clearview. AI was the fact that one of the fundraisers started a fund called the Maga ETF. So effectively, you can go out and you can buy. It's it's like a mutual fund if you don't know what an ETF is but you can buy an ETF, anybody. This is already. Yeah. And it targets the 150 companies in the United States out of the S&P 500 that are have the biggest contributions to Republican and conservative political candidates. So this is all about sort of conservative, donation, conservative ideology. Focus on conservative companies. And it's called the Maga ETF. What struck me about that is a that it exists. I think that's glorious. I think that's fantastic because now I don't have to go figure out which companies are really conservative. I can just go to the Magi ETF and be like oh they're on the magnet. ETF chances are the conservative someone else done the work for me so I love that. But yeah, but B I I looked up their ESG rating. So all these funds get ratings on how environmentally socially governance Focus. They are how good at ESG they are. Yeah and they were rated in a Out, which is above average and above average conservative. That's going to piss off the conservatives, right? Because that's, that means that they're not going to make a profit. It's a win everywhere. So it's, it's the conservatives of being annoyed. Because, you know, liberal snowflakes are telling them that they're actually good at doing Progressive things. And and and the Liberals will be annoyed because how on Earth does the Maga fund getting a rating. When at the same time and I looked up a number of other funds because I just thought this was glorious. The, the impact shares sustainable development, goals, Global ETF. So there's a, there's an ETF that focuses on the UN sustainable development goals. These are things like, okay, eradicate poverty. Okay, I need to wrap this up. Yeah, they actually they also rated an A, so Mega and eradicating poverty. Both get a rating from msci. For I think I love it. Probably the number one issue with Megaforce is a radic global. Poverty. It's the antithesis of Mega. All right. All right. Come on. You. You're you you completely you're off the rails, here. I think you need more coffee. I'm going to help you out here. Stick with this, this open AI thing for a little bit. I'm gonna help you with your AI fear. These are 11 things you can do to stop being manipulated by your phone. According to the tech experts on. Netflix is the social dilemma that's the movie. I was talking about. Here we go. Don't click on videos or posts that are recommended to you, too late. How about that though? I mean, that's, that's how scary our world is it. That that's the first recommendation. So don't do what you do all the time. Install a Chrome extension that can undo recommendations on platforms that have that. Turn off notifications on apps. Know, I already did that. I hate. My phone aren't pinging. You with important information? Uninstall apps that you don't use or that you feel are wasting your time. Is there any of this helping you do you feel like I don't care? Don't use Google, use an alternative search engine. You tell that to my Google Drive before you share a piece of content, online fact, check it. Don't click on clickbait. Follow on. Here's a good one. I like this one. Follow people on social media that you do not agree with. Yeah, I already do that. That's why I hate my life. That way, it can be a confuses, the AI. And it doesn't just like, you know, overload you with, with clickbaity weirdness. Don't let your kids use social media. I failed on that one. And leave all of your devices outside the bedroom at night. Do you do that? No, and but there's one left out of that list. The last one is, delete your social media account. Well that one's that one is also was gonna say, it's also left out but there's one left out on the list that if you're on social media that you can do. But everybody, except for Facebook vote, your proxies and get the moron in the boardroom out of the boardroom. Liberty in surrounded, by diversity, means they're not so Liberty and anymore. I want to keep this to under 30 minutes. Let's let's do top 10, top 10 things in Tech. You need to know today and we can you can slow me down if you want to talk about something tiktok. See us band was temporarily blocked by a us judge and a blower to the Trump Administration, you care. Well, they already approved the Oracle transaction. I don't understand what the judge blocked. Well, we and the specific of the order remained sealed by the judge. Everything's a secret, an anonymous Facebook executive. Let's just say that Zuck. Said conservative success on the platform is due to having content that is always more engaging, the executive who identifies as a center, left Progressive said the right focus on Nation protection. The other anger fear has always been an effective tactic pointing to the 1930s. That means feel good about that deadline. That's actually make America more engaged again. I thought that was the new slogan. I still think Facebook's gone as We Know by 2030. I think it's I think it's the the the the the Vanguard of global conservative politics and it won't be gone. Google parent. Alphabet settled. A shareholder lawsuit that accused the company of mishandling sexual harassment claims the settlement eliminates forced arbitration for employees and limits the use of non-disclosure agreements. And the firm is also agreed to spend 300 and 10 million on corporate diversity programs over the next decade. Whoa, that's a big one. That's I'm glad. Made it to the 10 things. I need to know, actually. Yeah, Tech screwing up in every direction. Amazon, backed food delivery for delivery room. My IPO I, you know, come on, I don't need to know that. I already talked about this one, Amazon facing a growing Union pressure in Europe. Apple temporarily scrapped, its controversial, 30%, App Store fee, for Facebook's new online events feature. I don't know why this is always in the news. Why do we care about apples? It's billionaires. Fighting each other. It's nothing more fun than that. Oh, here we go. Facebook is launching its oversight board in October. A pseudo independent group that can review and overrule the company's decision to difficult content. Moderation cases I like this could be this is gonna be weeks of content for us. Yeah, yeah. Because we all know that first of all that they can only deal with content that has been taken down. They can't actively deal with anything and that as this article rightly points out it's pseudo independent. I love that. It's called pseudo independent. Yeah. This is just part of the, the wonderful, you know, Zuck washing of the Facebook world was pretending that he doesn't run in nefarious Enterprise. Tiktok Executives grilled by lawmakers in the UK and Australia. Nobody cares Elon Musk. We talked about this voices discontent about open Ai, and finally, oh, here's another one. Good one for you, Matt to end the show on Amazon's oh boy I don't want to read this one Amazon's new flying home drone. As prompted, horrified responses about the potential for increased big Tech, surveillance you text. Sorry. UK based, privacy, advocacy Group, Big Brother, watched described the Drone as arguably Amazon's most chilling surveillance product yet. So, What do you got for us? Well, this thing. Yeah. Because they saw a picture of it. I have not seen the video yet. it's just the one that's like it's part of what is the people had these cameras set up with their doorbells because they're deliciously paranoid and they're constantly posting pictures about Of somebody walked by their house, the wrong way. Yeah. Or want to go steal their pack. They're very important package deal. One of their their 47, Amazon. Deliveries that day. Is it, is this part of that, we're like a little mini helicopter, like, flies out of it. So it's a little box that hovers around your house and watches everything for security purposes. It's supposed to be like the ring to tell you, you know, like someone's in on your property, I think. It's in lieu of eight different cameras, hidden and the eyes of your teddy bears, like that's what it is. Okay, it is. Defying. Yeah this is the start of something chilling and of course you know handed to Jeff Bezos a genius in all kinds of evil directions that he is going to get consumers basically to test this for for him. They're gonna pay to test this, right? They are building in end-to-end encryption which is like their way of saying, this is going to be super secure. We won't be able to watch. Sure when they except when they're going to need except the you know, flash forward to the monthly article where human content moderators accidentally you know watched 100,000 hours of you walking around in your underwear. Yeah I'm a mistake Rogue bad apples. I am I just, I the this cost $250 retail. I'm just flabbergasted about who is paying for this? This is why I highlighted the difference between the US and Europe because you know, the US is allow their boat Prime day and, you know, Europe is both focusing on, you know, Union efforts who's gonna pay for America's. I mean, that they just they, this is sort of their This is what keeps them going. I just think you know gadgets Tech Hovering, but I think there is a callback here noises. I think there's a call back here to that anonymous. Facebook executive, talking about how conservative content, just is more engaging and he listed the things that make it more engaging Nation protection. The other anger and fear, right? Protection and fear is basically what they're selling you, right? Like it's all hovering device because you are afraid that the black lives matter movement might come into your house or because antifa is out there or maybe there's just a terrorist organization. That's forming in your quiet, Suburban neighborhood. I, I honestly, I don't understand. I don't really have, I guess what it is is, you know, I can't separate my my understanding of its business model from my personal indifference to fear as a consumer motivator. I just I don't really Buy things because I'm desperately afraid of something. My wife went out and got like a home security system and I was like, why, what do you really? What do we expecting? Yeah, you're for your tree line Street for our tree for our dead end Tree Line Street. It was like maybe she's worried about like a corn, we just don't even have it. We have a A 30 inch television. Like we don't even we don't have anything worth anything and but she, you know, you read one story about a family that gets held hostage and on the Mexican border or something and everyone's got a home security system. Let me ask you this Matt McCarty, what do you do? If you think they're in there anyway? You know, they're in there. What are you gonna do about it? I'm gonna give them whatever they want and go live in the basement. You, I don't know how to help to know it doesn't, it doesn't because it's not exactly, like I'm armed with AK-47s and even if you could solve, even if I shot up, anybody who walked near my house, would it make me feel like, staying in that house because I felt safe there because I have all weapons or drones hovering if you build a force field around our house, maybe don't live in that house or that place go someplace, you feel safer? Like Canada, like, like South Africa. I think what you're saying is that A Maga ETF investors are going to have this product advertised to them everywhere they go, right? It's going to be it's just constant bombardment of ads to buy this because isn't that the target audience? Isn't that what you're saying? Well, that's the craze. That's yeah, that's absolutely, the crazy sort of feedback loop. Yeah, I mean, it's like, you're, you're showing that you're afraid of things and Amazon's new hovering Eye in the Sky will be circling your house pretty soon because you're clicking on that and you're buying it and then um, mega wins. I it's really I mean yeah, yeah this too will also be able to tell you that you're running low on eggs. I wish man, that'd be so I would never running low and eggs. We think it'll do you think it'll help her by your refrigerator and like, kind of nudge the door open and then like just check what you're missing and just order automatically Amazon, why I would prefer if it actually hovered around the refrigerator and ask you to open it because it wanted some ice cream You think it can harbor around my bathroom and flush the toilet? When my stupid kids forget to do that. Enough. Believe me. You think it can just hover with a vacuum hose attached and do some house cleaning. I actually am hoping it'll hover over my cat when my cat's outside and Chase it around, just get it. Some extra exercise, could hover over my bank account and drop some like nickels in there. It doesn't know that that a distinctly does not do. No. All right, that's all I got for them. You have anything else you want to say? No, but thank you for making my Monday morning as frightening as possible. That that was well, you to be fair, you made it that way you you focused on. See you said, you know, you know a fear buyer but you did focus on the fury article well because you're just saying, you're afraid of everything but you're not spending your way out of your fear bubble. That's what I'm saying. I'm saying that that fear sells maybe more than sex and greed right now. Like I I feel like we're in a new consumer bubble where we're afraid Yeah, but you could have focused on IHOP and just talked about delicious manufactured pancakes, which also are terrifying. So yes, I'm a little afraid of those. Do they taste? Not like, you think they're gonna taste. All right. That's it. That's business. Pants. That was Damian Morales. I'm Matt moscati today is and will remain September 28th, 2020, until the end of the day, if you like your police, subscribe and share, and give this to your friends. Yeah. I I know actually a couple of you are, maybe sharing it because I'm seeing a very, like, we got one new listener. Yeah. You know, I'm not sad that but feel good because the other option is 0, new listeners. So that's yay. There's the enthusiasm, so subscribe and share go to overcast or apple or whatever you get your podcast so you can tune into us live ish on Wednesdays and Gorham Portland and wmpg or on the Internet wmpg.org because we're radio stars. Now, that's just the way this works. I would also like to thank our production assistant Emma. Who's going to mix this showdown. I'm going to send it to her and say, mix it down for me and we're going to see how that works. So go Emma and otherwise we'll be back at you tomorrow with more business pants. Thanks Damien.