Business Pants – 2022-01-21

Live. Oh, you hate that. I hate that live from an es 5G Cafe in meta Dublin. Meta, Ireland. It's a very special business pants Friday, is it? Yeah, yeah, well yes, yes, it's the most special just heard why it's special All right, I'll just I'll just get, I'll just introduce everyone. Okay, well, we're skipping a normal format. We're not going to do story of the week asshole the week. We're not gonna do Problematically list of the week. We're not gonna We're not gonna do that. Oh my God. Good game. Good game. Are you serious? Is this? Yeah, we didn't know. We're doing the good game, know she called it problematically. Yes. Which we changed to irritating IST of the week? Like so many shows ago. So we weeks ago instead of all that nonsense, we're gonna skip right ahead to our newest and most beloved segments are fancy expert of the week. And we have a fancy expert and that is a new partner with clothes group consulting, is that? Yes, it's great to know. Yeah, right. It's I feel like there's only time I'd be referred to as a fancy expert so it's it's good to good to be with all know. I would think honestly if I'm gonna make an honest assessment, which is what I'm paid to do, you Have a nice fancy except for the background. Your background the shop, but you I think you you doing it right. You got something going on. You do have fancy Aura. Yeah you have. Yeah. You're ready. You're ready to live life? Yeah I was gonna wear, I was thinking about wearing a turtle neck today that might oh and we there are two a turtleneck might or might not be a part of the headlines coming up so we wouldn't want to buy a headlines. Speaking of what are we doing with our fancy expert? We're playing the good game, oh excited, but I don't really feel like it playing a good game. Here's a good game works. This is for news and for new listeners, we have any listeners know, we don't have those but we have consistently listeners. So that means that something good is going on. Here we go somewhere. Yeah, I usually this is what it is. I this is actually a game requested from my dear old mother and yes she is old. I mean let's be fair. I select headlines that appear to be good, right? Like we do a lot. We cover a lot of negative stuff. We complain a lot. We want a lot. These headlines. Just seemed good. So I picked them and I run them by our esteemed experts, Matt mascardi. I'm a lurking and they put a score on it. One to ten how good it really is. We talk about it and then you are fancy expert, will be our Arbiter of truth. You're going to tell us who's right? Okay. Can you handle all this? This is a power that I've created my entire life, I'm ready. Yeah, and Matt understands that because he's he's typically are Arbiter of Truth so I'm yeah, I'm excited. Yeah this, I'm excited about this too. Yeah, you think you think by not having the title, like I'm not gonna act like an Uber or truth. Anyway, I just like the title got taken away from me regardless of whether you act like you have it or not. Well this is what I don't like about fancy expert edition of the good game or any of our segments because I am the fancy expert. My shirt says it go to our story. Yes. Can all expert. It doesn't say I guess. That's true. Yeah. Well that's an unusual and I are right and that's Are so yes. Hello or a Trump's a t-shirt? Yeah, damn it. I need more Aura. Where can I get that? I'm gonna sell that on our Etsy store. All right, let's do that. I'm very excited. I love the good game. This is, this is like my favorite thing. You yeah. Feel free to you can tell us who's right. You can give us a score, you can do whatever you want. The power is yours, really? You can't screw this up. Okay, well I'll tell you if you will, it'll happen. Let's start at the top. This is from our big data category. Want me to tell you the categories today. Emma yes, please. There we go. Big. This is probably our story of the week. Microsoft is buying Call of Duty publisher Activision for nearly 70 billion dollars. And the reason why I include this in the good game is because there's been so much pain in this nonsense going on for the workers at Activision and I thought, hey they're getting bailed out. I calling this a huge ESG Bellow. Saving the stakeholders, you know? Saving the Activision employees? Isn't this good? Matt you're already seen. Like you're upset at this. I mean, well, the headlines should read Microsoft Access woke shield in ESG, bailout of Activision to the cost of not 70 billion, but 700 million dollar, buyout of Bobby kotick, right? Like This feels a little like, a weird mob play. Like, are we like, buying out our like, like the mob boss of, you know, Staten Island and absorbing them into our? I don't know, I don't this. It doesn't feel like happy sauce to me, although it is probably the Activision I would be thrilled. Well, if you're an employee of Activision but everybody else, what is this teach you, isn't? This look at countability zero, isn't this basically like yes I can create a culture in which we rape each other and have a Cosby suite and discriminated against everybody just to one executive. Well matters here. Somebody else? He gets 700 in dollar. Payoffs 700, he basically got the Tim Cook payout for rape culture. He is there another way to like, look at that later. I actually have a prediction about that later, but yeah, I hear. Okay my takeaway here. Is this is this is this it can't be bigger than a. It can't be bigger than a three. It's a three. I'm giving it three. That's right, I'm giving it. One. Yeah. See And so, yes, probably coaching is gonna get a 400 million dollar buyout. Woohoo, how stellar? And then One ginormous Behemoth company is buying another ginormous Behemoth company. Creating one even bigger ginormous Behemoth company which why would I rate that? Well, I don't get it. That's the one before we figure out who's right. I will add this other headline that I pulled today. Activision employees, are optimistic about Microsoft, take over. So, shut up you a new shoes, right? And maybe they're both wrong. So at this point, I think that there isn't any benefit for me to go Rogue and score this myself. So I'm going to pick between either Emma or Matt. Okay. I think that I understand that the CEO of activation getting a payout is not the desired outcome here. I think that this is the business that we and the world that we live in, and everyone's playing by the rules. Hey, I'm a judge, right? So I was playing by the rules but it's and I imagine that the valuation of the firm in some ways was impacted by the amount of the payout and the bad PR. I'm optimistic this, I'm sure will be controversial. That no Microsoft culture will certainly bring up the culture at activation as as Matt has noted, as an ESG bailout. So I am going to go with three and that on this one. That's right, that's right. That is right and the show because every time, right, Emma know, it's what would have been in the extreme. I was giving you insight into who I am in the next story, you know? He's the correct that's correct. Alright, next story let me let's let me win this one, too. Yeah, this one's miscategorized but no one's paying attention. So who cares? Here we go. Elizabeth Holmes. The all these stories from January. Just so, you know, all from January. So some of these are little bit old, some are new. Elizabeth Holmes found guilty on four of 11 charges. Former CEO of theranos Emma? Yeah, thoughts about this? I Am gonna go with a four. Other than a three that's really high. Um, I'm going with the four because first of all, I am happy that she got charged for something. I feel like she could have gone off free than she did. I am upset about the fact that the four charges that she was convicted of were all. in support of the large investors, the Betsy DeVos is the, you know, Venture Capital, firms, whatever and the Chargers that she didn't get convicted of where the charges for the patient's that she defrauded the individuals, The Who's Live, she impacted by falsely diagnosing them with AIDS or something and Kidney cancer are all the other horrible things that people got diagnosed with falsely. But I also this brings me to a slightly tangential issue, which is the fact that so many men do similarly awful shit and they never get convicted or punished in any way and that upsets me on the side. So it's a four. High score for, I want to point out while Matt's thinking that typically a news. Emma writes, everything about four. She's she's unhappy person and you can tell from her sweatshirt that there's just something off. There's nothing good. Matt believe it or not. Is slightly more optimistic in this game. He comes in around a six. Let's say so it's not gonna be a tone generally just. Yeah. I moderately bad mood but you must Point look. Yeah. The four investor charges or what. They would use convicted of every other charge was the sucker charge, which is basically your sucker if you bought anything from Elizabeth Holmes. I I have a really hard time with this mostly because Why are all the high-profile cases women and people of color? I mean, literally like right now that the Nikola CEO who got ousted is also up for charges and we for misleading investors. And we know for a fact that it's not like he's gonna get convicted and go to jail, we know it's going to be some fine, it's going to be some. I'm just projecting you bring a truck that was rolling down a hill to bake kidney cancer diagnosis. That's what you're doing. He didn't get convicted of the fake kidney cancer diagnosis. She got even real, only down the hill, he got convicted of Rolly truck. That's what she got convicted of. And that's, that's all right here, Matt. So what do you Okay, so this is it this is a very obviously well, known story. I'm gonna go with Emma here and a four. I my sister, you it's not. I mean I lied about it. If you went with a six I might have gone with you. Um, I you can do that. You're the Arbiter of truth. No, I think I'm gonna I think I'm gonna pick winners because I don't think it's really ultimately we'll pick winners. It could have been better right? But um Something's better than nothing. I'm not sure that I do agree that the media covers women. Fraud cases, right? The higher profile. I'm not sure if I don't have the data to know the absolute number of cases and how many of them are men and a total of, I would imagine there's probably more men being persecuted for these these types of crimes. Just because there's more Menace CEOs. Yeah. But I appreciate your perspective. It was a fascinating story. I don't know if you guys listen to that podcast that there's there's a good good drama and Jennifer Lawrence. Yeah. Cast in going back to yesterday's conversation, Adam Adam McKay's new film on. It was Elizabeth and Amanda Seifert is playing her in US series. All right. Okay, all right stop. So I look forward to that, so yes, Emma at a four, um, because I'll take it whatever I'm the winner. Keep going to point. Matt. What he's trying to say is that there are more HBO specials about Elizabeth Holmes in the world about your stupid. You're stupid guy. From Nicolas Marjorie Taylor Greene. Remember the story Twitter banned congresswoman woman over covid misinformation, our first high-profile social media ban of 2022. We like it, you should. I just answer for Emma and I though, yeah, this is where Emma's, I know where this one's going. Emma says it's a zero because they banned one of her accounts and other accounts there. Ironically, they did something that you probably like, too, which is that they banned her, which you can't admit. Why can't you admit that? You actually like that, though? What's wrong with you? She has a whole other ass account to post her crazy but still they banned her. They've been something. They, what do you mean? What are you doing? He really hard. I can't, I can't convince him of anything. It's bad curation here. Like no, it's beautiful. Curious, didn't they didn't she have like a million followers on that account? Probably many more, right? So I have a million followers, that's like nothing. Well, let's just say, does it matter that she got banned? If the media covers every social post, she puts up everywhere else anyway, because 14 hours ago, this is not a joke. Marjorie, Taylor Greene on telegram posted something, comparing vaccine mandates to Nazi Health passes, 14 hours ago, and it was all over the headlines. What's the point of banning? Or if we still know every stupid thing? She says. So giving it Um a low score. I like that. They did something. It's better than the Facebook 24-hour band, which is basically a joke. So I'm gonna give this a I'll give it a four. I'm gonna give it a four. I'll agree with mounts for. I mean, you both sound very fatalistic in the sense that no matter even if we were to impose regulations on social media, big Tech What does it matter? That's what you're saying, like, they'll something else will form and become a new conduit for the idiots, like, give up now. I'm thinking give up. Now, I'm saying, ban all of her shit, been everything about everything, she's been, she's right there, help me out here. They both give it a four. I mean, this is A good opportunity to make but I'm happy. So I'm gonna go with four. She's she's out there. I think there's an impact to Banning one of her accounts that does have significant followers and is I if I'm correct the account tied to her role as a congress person. So I think that that is is good and it sends the message that we uphold some of these folks to a higher standard. Okay. There are I was standards. I wasn't listening because I was just kind of figuring out like what I do about ties. What do I do about that? All right, tied you clean your clothes? You mean, let's go move on. Oh, this one's. This is perfect for this group for this. Sad. Yes, she forward. Group. Here we go. Here's the headline. Um, Damon Oh, we've moved to a new category. Oh, this is this very special hybrid category and you'll, you'll learn from the, from the headline. This one is a little bit blowhard index, a little bit woke data, a little bit, stakeholders rule a little bit CEOs rule. Oh, sorry. This is a lot. There's too much. And here's why here's the headline Black Rock CEO. Larry Fink one of our favorite topics on on these shows says nothing. Woke about stakeholder capitalism. Let's, let's do it. Let's write the old CEO letter. The old Route the CEO. This is a big rating. This is big. This is new. What you missed this week is that we had a big argument about this where I stupidly, I stupidly was like, you know, I'm happy, this conversation exists and then these two were crapping on me. So that's well just there's a lot of a new year. Entire reputation is stake down on how you rate this. So just so, you know, Emma wanted you start us. she just preemptively give it to or what like she was just you because I hate I hate everything about it. He's talking to videos. Yeah just period right there. He's talking to CEOs. But what's BlackRock doing that's so impressive? Why does he have the grounds to talk to other CEOs about what they should be doing with their companies when he's not doing anything to, you know, increase stakeholder? You know, value and rights. And instead he's saying, oh, stakeholder capitalism is shareholder capitalism. And I'm like, I don't think that's actually correct. Larry, thank you. All right Matt? What? I've been thinking a lot about this. And one thing occurred to me today because I reread the letter again today, we're so good. Yeah, he's Larry. Yeah. Cuz cuz its like us read it twice. Um yes. Do we're at least something. Is Larry think basically saying ESG is the beyond meat of capitalism? Is it deep? Fake? Capitalists like this. well, stickers capitalism could be called sort of Impossible Burger of isn't that what it kind of is? It basically is all the same fat, all the same nutritional value. It's like maybe an outcome, same desired outcome. Yeah, it's meaty. And it and it and it fake bleeds. I like. Um but it's but it's also maybe if we're lucky like it there's fewer cow farts involved. Like that's basically it's like capitalism songs. Cow farts is what he's going which there will be on me takes over many many fewer in which case he's kind of not wrong. Like I don't what I don't like about the letter itself is like he talks out of both sides of his mouth like for basically 80% of the letter I feel like he's saying the thing and then they says the opposite thing. He's saying like this and then that but I I can't say that he's wrong about It's not. Well, it is she kind of is in this Zone. That is like, it's not solving a problem, it's sort of deep fakes solving a problem. I'm gonna give it a five. I'm gonna go into the road here. Okay, but hold on here and I'll give you your score of five. He's not talking about ESG, talk about stakeholder capitalism. I know, I'm lumping them together because he kind of lumps them together a little bit too. Like something. I don't like that one thing he, well, I mean, like, look BlackRock, when they go and Market it, they don't Market anything at stakeholder capitalism. The market is ESG like everything's marketed and the premium outlets on the product. And yeah, that's why it's a little Because honestly and this is for everyone in the ESG field. I'm talking to everyone because you listening to me because I'm the only one who really understands any of this is that true. You if you murdered ESG from the perspective of a stakeholder capitalist view, people would understand what the hell you're talking about. I think stakeholder Capital tells a better story, is what I'm saying. I don't think, I think she's struggles to tell a story but with that we'll turn it over to our judge who's right here Matt with a five. I'm with a two. So it's a great question and I said I'm going to do something. I said I wasn't going to say my own sport here. Yeah, there you go. Because I have some skin in this game. I we work with Asset managers and asset owners. And I understand the the challenge that someone like Larry Fink not comparing myself to him. But has go ahead within a financial firm, a large Financial conglomerate to get I'd say some of the people who are industry vets and have, you know, a significant amount of work, experience in financial services to understand that ESG, and stakeholder capitalism is not a political statement and I think that that's the audience that he is trying to address. Unfortunately, this stuff has gotten politicized and people think it's driving an agenda. It's not right, it's good business. And so I think that that statement we're going to narrow down, what I'm judging is just to what you read as a headline dating which is, is woke part of stakeholder capitalism. I know who he's speaking to. He's not speaking to the white or Community speaking to particular group of people and I think that they need to hear that and it was a good thing. So I'm going to go I mean stop could have gone further so I'm going to go with just to six. Oh, I thought that was that sounded like eight. Territory is not a victory for that. Technically, he's the Arbiter he gets no, I'm still Trying no extreme. I'm happy with conviction. I just there's a lean deep just so you both know what he's saying is you're both wrong? That that's the that's the actual. Yeah. Loud and clear and I will say that for Larry Fink he's it must be nice to live in a world where Not everything is political because I feel like everything is political that they're going to be something that's not political sounds refreshing. I wish I could live in that world. Oh, I'll say this for the record, I hate experts. So let's move on. Yes, this is not gonna work. Well let's move on to Deepak meat category. This next headline is just as just as important just as an electrical. Let's move on. King of stakeholder capitalism here. The headline, Taco Bell. Launches Taco a day subscription program. Nationwide to drive visits Mission went to drive. Yeah. That's I love the juxtaposition between Taco Bell. Taco Bell. Taco subscription. Here we go. Oh I mean Emma. First of all, this must make you super happy. So I'm gonna let you go first. Despite the narrative that I'm obsessed with Taco Bell, I've only been once in my entire life. So individually. And personally, this does not really impact me. Um, I don't listeners, this is not a moment where a new just wondering what the hell he's doing on the show. Well, why did he agree that this show? I just oh, okay. Okay, yeah, I'm sorry. Keep going, Emma. Um, so my question about this, if I'm allowed a question is, is it like a delivery Service. Or you just it's like a pass and you can go every day and every day you get taco taco. Netflix, Taco Netflix. Okay, I feel fine about this, I suppose. Why? Five? That's a five. That's the highest score today. The highest score Emma gave today was for taco subscription. Wait, you want to say? I feel about potentially enabling people. Who are probably already in healthy to get even more Taco Bell. Oh, stop not. Oh, you're getting into dangerous territory with me. My friend, simply not my job, to police, or how people put food in their bodies based on location economic status. Access to fresh food, fight me people, that he's a thing that the subscription is 30 days. 30 tacos, for 10 dollars. These are tacos that are normally a dollar forty. Nine. Thirty days 30 talking about, it's very exciting. Yeah. Um, but I want to give you some alternative metrics, because 30 days, 30 tacos, ten dollars is the thing they're selling it as the alternative metrics are. 11 grams of saturated fat. Per dollar spent 1% of your entire month's worth of salt is consumed just if you leverage your taco subscription and 5,100 calories per month, those are the alternative metrics to think through. So it's basically one taco a day is effectively two full days, worth of adult calories using this according to the daily, recommended calories intake, which is based on that based on like fat white guys and the Midwest I know, right? My wife tells me all the time. Wait, what? I'm just telling you don't like the rest completely but is that it's based on Fest trip. Midwest, that's true. They used. They used like oh you the nutrition. The nutrition. Labeling is based off of a Midwestern cohort of mostly white. Men is what it is. So um I'm not basing that I'm not judging that I'm just saying that's like your whole argument right there. I'm not making an argue. I'm giving you alternative metrics. So I'm not, there's no argument. I turn it metrics based on one demographic of people, Emma. This is why we learn msci. So we could deliver all kind of metrics, come on, I can't believe. I actually Emma beeps, the nutritional value label cohort that I use that everyone else uses. But not that Damian is basically like saying we're making unhealthy people unhealthier like I got the beep. Like, that's that was so good. I'm actually working the system. I want to hear a new way in here. So, can you get to a score? Matt, I'm giving I'm gonna give this a nine for creativity, a Netflix Taco. So, um, the news, despite how like ridiculous it is to me and I would never use it is fantastic. Okay, I'm gonna I don't As their. Here's here's the thing I can't get into the nutritional part of it. So I'm adding that part of your argument. I mean, sure, it's Taco Bell, right? Like it's not sweet green. I think most people know what they're getting into Taco. Bell is brilliant. Like this is marketing. And you know what? There was a phase of my life where I would do anything to get to talk about every single day or you're still living that phase. That's why it's so easy for you to conjure it up. If there was one down the street, I would certainly be tempted. There was a period of time where when I was driving between Boston where I live now and there's there are some taco bells along the way at rest stops and I would seek out the rest of the top And how to Taco. So, yeah, I told disclosure, I bought them, you know, a marketing tactic that I will work. So I'm a loves every second. She loves that. I didn't expect this out of anyone. I knew she's not going into full like, you know, advertisement for Taco Bell. Yeah. And for both Matt and Emma. This is their highest score of the week so I don't know what the hell's going on. What's going on? Staying in deep baked me. The next headline is beyond me PepsiCo make vegan jerky and joint venture. That's a weird headline when you think about it. He's a joint venture for that. That's yeah, I don't know. I actually, I will say when I read this headline, the first time when I like, when I glossed over it I thought it said beyond meat PepsiCo make vegan jerks in joint venture and I was like, do you really need a joint venture? For that movie that themselves? Don't they like, isn't that? Sort of built in. I don't know if you have vegan but he's not have a vegan look to him. He has he just wax poetic about his love for Taco Bell. You think he's a I just I'm just saying he I got meat or and fancy expert Aura simultaneously at the start of the show. Wow. Am I like weighing in going right to it. I'm also going to go right to it. I could care less about this. Well I don't Know another area. I don't understand these two. I don't understand why they're not as invested as I am into this idea of Industries like this deep fake meat industry. So something that's not jerking, all don't care, okay? But solving for a bigger problem that we all point to consistently for decades that that they could make a hell of a lot of profit by by replay. I just don't get a new help me, am I? Am I crazy? You know, what's Amy? I'm I'm with you. Whatever you say, I'm gonna say, Like, yeah. I mean you know that being said like I I am a fan of just regular veggie burger. You know, versus a fake meat burger. Like I think if people are going to need to fake me, like, take a stop. Take a pit stop in the veggie rolls. Like try a veggie like this. Those are good. Yeah. Like this man, I know you. So Here like try a veggie burger. Yeah, I'm with I don't care about that. But estimates that in 2017, suggested jerky was about 1.5 billion dollars in sales, right? And a little less than half of Americans, This is according to Simmons National Consumer survey out of US Census information. A little less than half of Americans, eat jerky on some regular basis, right? I'm on making it up. This is I'm pulling this from the interwebs whose probably making it up, but when you insert this, what percentage of those people are going to eat fake meat jerky. Okay? The point is it, the point is that there's a, there's that we have, there's an issue. I'm saying there's a lot of joint ventures. You can do with something like beyond meat. You can make a lot of things that and if you want to move the levers of California is jerky. One of the places to start. Go somewhere else. You just move it along. Let's go dystopia dystopia. Emma. Here we go. Robin Hood to let most employees work from home permanently. This is the air. This is the age. We're in permanent work from home. What do we think about this? as we get closer to the metaverse, Fine. Seven. You like this, you like permanent. I mean, you know, I don't know if people want to work from home, let them work from home. Well, okay, Emma said something to me early in the year that totally blew my mind because I'm an old man, but which is that I told her that we. So I lived in New York at the same age as Emma did. And I said to her, I'm sorry that you have to work for us and work from home and you don't get to go like to because, you know, I was never home when I lived in New York. You know, I, I maybe I get home at 5 a.m. blah blah blah. She's like, no, she likes it. People, her age like working from home. So I'm the dinosaur here, right? Yeah. That's true. But I am also I'm your age and sure I love working from home. I okay, I hate the idea of going in office. If a kid. I I don't I don't like humans though. Like the the idea of having to interact with them like any way where they're like physically in my space and I can't like get around them. I'm giving this an eight. I like it. Okay? Now I want to hear from the man who was working out of a Best, Western Business Center. What? He using a Windows 95 laptop. He is the true Albert here. What do you think about this new? So I'm gonna build so that I understand that, you know, I too lived in New York City office. Yeah, that's true. I did. And I think that why it's more acceptable right now is because many people are working. But when we get to a point where there are people that are in the office and there are people that are working from home, the people working from home will certainly be missing out on stuff that's happening in worship, right? So that being said, I think we're essentially just getting to a world where and pointed out which is just the flexibility you want to work from home and you can work from home, get to the office week gets in the office a couple days week. Now, Robin Hood said permanent working. Which is different, right? So they're not gonna have any office, they're not really all. So, I'm gonna go with endless score here. Because it's a little, I don't know. It's like, why not offer the flexibility? Here, we go by billionaires the category bias. Okay, billionaire. It's a story. You covered this week. Matt more than 100 millionaires, signed an open letter asking to be taxed. More heavily does. This contribute is this good? Look, I'm gonna do this quick because I love that. The, the cohort of the 1009 is the headline, but no one actually looked to see that the millionaires or 52% female despite the fact that 85 to 90% of millionaires in the world are male. This is basically women with money care. That's, that was my takeaway from the headline, I'm giving it a 10 because when you did one nanometer underneath, you realize what it really is. So I'm giving a 10 10. Yeah. I don't know. Explanation news. Know, I'm done. I'll give you that. I'll give you that. again, yeah, do something that I said, I really Want to do. And I'm gonna go lower than both of you on this and like a seven. Um yeah I think you're right. Yes. What I mean? If you want to be taxed more fucking pay more to the IRS like you can beat that I like that and then you can make it actually do you want to pop this up and give us a little bit? No way. But you're not a letter that says you like I like it, right? Like it. I love. I'm I like that. Yes, like right. Yeah, I'm kind of surprised. You going going for 10 on that? How dare you look? I just moving on. Rule, here we go. And we coined this long before Larry Larry Fink told us that stakeholder call it capitalism was not woke. I'm just putting out there. Here we go. Goldman Sachs profit Falls 13% as it raises, Bankers pay Like good Damien has already predisposed my rating to this headline and I cannot get his words to stop ringing in my head. So my number is going to be a five. Year? What those words are, or because it, I don't remember, my, my rating is a five because Damian pointed out to me that the way this headline is Goldman Sachs profit Falls 13%. So, they put the negative thing first, as it raises Bankers pay, like they felt the need to associate, a pay raise for people who I'm sure are not paid as much as they should be, and are overworked and need better benefits, whatever. But they're like, oh yeah, we raise their pay, and look what it did our fall, our prophets have fallen, so I'm gonna be happy yourself. Hey, raise, but I'm upset about the way the headline Matt. Ah, I mean, look, they the goal and Goldman's case, they actually added 8% to their staff, on top of the fact that they increase wages. So there's actually multiple factors going on. It's not in the headline, right? Like it just says pay went up. But it didn't say they added a whole that they added almost 10% to their stack. So it's like it's not just paying off come on and I agree with like I actually you've now made me think about like they did order it in a way that makes you want to hate it first, right? Like I'm just like, look, I'm It. But I also sort of don't care about a bunch of Bankers that make 400 thousand dollars a year like getting a pay raise. Like like it is also like a sort of a bunch of whiners who are? I mean the disparity for them is like we could go work at Facebook and feel like we're saving the world to make equally, if not more money than working here, where we only it's up about making money, and we don't feel like we're fulfilled. Okay, go do that like, fake? You're Not Gonna Save the World over there. Either you make plenty of money. You want to save the world. Come join us in the not woke. Stakeholder capitalism with Larry Fink on this side of the fence, I don't care. It's a five, five news anyone right here. Yeah, I think they're both are. So I'll stay with five here. And, yes, profits can fall probably more than that, they can. Afford to pay raisins, right to their true and Associates. Those are the ones they're the workhorses. They're producing all the work. I was surprised to hear have a kind of supportive of pay raises for Bankers. That being said, the compensation rates for analysts and Associates and VPS have been following all of these announcements in the news. Over the last week, we can at this day has come. They are wild. They're they're getting they're getting, it's a lot of money. You're paying very Young people, I get it. They work hard. They work their asses off. But that's a lot of them. So yeah, it's getting into out of touch with reality, kind of, yeah, right. If you come in as a, what's right of this country? That is Money that they will never. Damien it's a five. We all agree. What's the next one? New York law would require fashion companies, show social environmental impact. Where's the governance impact? Well, I really want to know, but that that's the headline. Is that good sounds pretty damn good. Oh, that's easy. Matt. Come on. I don't think. Matt give this a tent. Look, I'm all I, I'm excited for them. All to move to mushroom leather. So, I'm gonna give this a 7.6. I mean disclosure is good, but there's a little bit more to the, to the story. Right? What news? Yeah, there's, there's a revenue component to this where they'll find you a percentage of Revenue and it's about size and that kind of stuff. Okay, this one, right? Familiar with the story, I'm gonna go with the 10. I actually wow, industry Association, that all kind of came together and, you know, But it was, it was what you want to see in terms of legislation, it wasn't just politicians legislation, it was a coordinated effort and I think it will absolutely. Now it's limited to New York, but it would be interesting, right? Usually it's New York and Massachusetts no I'm sorry usually it's California in Massachusetts that do that do something, New York New York's playing our last one is stakeholders will Tom Cotton says Warriors, co-owner should be forced to sell his stake in the NBA team. Following his comments that nobody cares about the uyghur population in China. Covered this one extensively. How do we feel about this? It's a loaded, loaded headline, this is really loaded. Yeah, Emma. Why did you start? I mean, it's tough because you're Tom caught in his, you know, as we pointed out has said many deplorable things in the past. So it you know are you supporting him here? What do you think? Is that I don't necessarily disagree with his sentiment. I don't love the stuff that Tom said and I would rather him not have power and assets and stuff and influence but it's Tom Cotton saying this. So I met across the roads. I love that this hurts. Are you break? It really does. I don't want to go too long on this. But are you aligned with the thought that she sell his ownership for one comment? I don't know. I'm I'm at a loss honestly, on this one. This one fair. This is the one that makes my brain before move on. I'm gonna go with a zero because I don't know what to do. Oh wow. That's a harsh ruling. When you don't know, it's funny. Could we talk about this? Because we've talked about CEO? Hey, claw box and I was wondering earlier. What about ownership Club X can is that a thing, you know, can that become a thing? I love that concept. I love the idea that if you are an irresponsible owner, that ship gets clawed, for example. Yeah. Well if you gets clawed from you for 700 million, does it really teach you a lesson about being an irresponsible owner but like to Emma's Point look, Tom Cotton said the Holocaust and the was a necessary evil and said slavery was an necessary evil and he simultaneously is deep in on, like The Federalist Papers and free market economics, and Adam Smith, and all that stuff. So, he's he's talking about his mouth your mouth said something that I think actually samath is saying the thing that most people think, at of his like millionaire, billionaire, ilk, and that doesn't mean it's right, but I have to say, like, It's nice when someone says what they think and I'm not sure I don't want to applaud that. He said what he thinks but I also kind of want to appreciate that. I get to hear what he thought. Yeah, I don't know. There's a lot going on. So I'm giving it a five. You're saying. No. Kind of clothes. I like that news is getting in the game. He's just giving the score now, he's One is not what Emma says zero so I'm just putting out. Yeah. I mean listen I just don't like the weaponization of cancel culture like where I think most people don't feel like as a culture is gone off the rails here. Like stay in your lane. I just you know this is my bigger bigger picture stuff of like. A politician is clearly, politicizing and weaponizing kids. I can't stand. Okay. Wow, I like it. Let's move on to our final category woke data. Yes, don't say woke. Uh, It's funny we we replace the term ESG with woke data because we just we couldn't bear ESG anymore because no one understands what it is and we picked a term that people equally seem to load. Yeah. Larry think literally said it's not so it's not so yeah I apologize. Here we go. Oh first one is is a very important topic here. Mars rebrands, its female M&M's Chocolate characters. Ditching high heels for sneakers, probably made by Weavers to make them more representative of a customers. Away. Emma, you begin. You have the best eye roll. It's I roll, is the sneakers were made by week as you're still thinking about it. Emma. I mean, this is a good. This is a kind of a weird metaverse player, right? I mean, won't these characters thrive in the metaverse I'm thinking, oh I mean I would not be surprised if Elon musk's ends up like suing Mars because they try to make their own Mars metaverse. And Elon is like, no, but I like taking humans to Mars and then once we get to Mars, I'm gonna do a metaverse on Mars and it's gonna be a nightmare. But on another planet, it's a good question. That was a meta metaverse. I mean I assume yeah, there's gonna need to be another internet on Mars, unless we can get Earth Wi-Fi. He's got the satellites. He's he owns the satellite company. That does internet, right? Like he owns. Starling. All right, what's the score, right? This is a five. Matt. Uh, look I it sort of is perilously close to reversing stupidity because you did have for a really, really long time. And Eminem wearing high heels, right? Like that was never necessary. Right. Like That Eminem was never sexy. It was never like it's not work attire that it's in it dragged. Well we know it could have been but we know that it wasn't because we know it was like a white male and Mad Men. You know Cigar Room coming up with it. Oh yeah. And the green M&M was supposed to be the one that it's about sex, right. Like an aphrodisiac because the green M&M chocolate somehow is different from the other Eminem Show. Whole thing was sort of stupider in width, so it is reversing stupidity. What's your news? You don't know this. But way we used to play this game, I used to always have a cap on what you could score for when a company does something stupid and then reverses it simultaneously. Like everything. Emma just said about The Meta metaverse and the Mars to Mars. That just made me really happy. So I'm gonna give it a seven. I'm gonna give it a seven, okay? Um, yeah, which is, I mean, an M&M in high heels, perhaps, it makes sense. I think there may have been a time remain since it's probably like a small sliver of 1950s but it's, yeah, we're going the idea that Eminem had legs, right? Like, you're okay with that. Yes. Yes. Okay. All right, here we go. Let's move on. Okay, I I chose this one because we now have another ESG expert in the room and I just didn't, I didn't understand it. So I sometimes I pick headlines a new just because I just want someone to teach me. What's going on the world? Here we go. The headline is carbon price, carbon price could spur global economy. The hell he talking about. It sounds good though, right? I mean I I feel like it could save the world but why, what is it? There, there was a fancy chart that went along with this. There's a fancy chart. Okay. um, Look, effectively. The concept of a carbon price. Is that price? There's a carbon budget and that price gets passed down to Consumers through like a mechanisms of it costs. You something for this asset that we've never priced before. Now it's it's an input to your your production process and there's a there's a cost that you bear and that goes down to the consumer and by increasing the prices of certain Goods, particularly luxury goods where the carbon cost is high, right? Like to buy a yacht, there's a suddenly a very large carbon cost to that that should get added to that Yacht Where to buy you know you know certain foods and I'm sure they subsidize the carbon costs in ways that don't disadvantage or limit the disadvantage to be people can't afford it. You'd spur. The economy by effectively taxing heavy, consumers of luxury goods, who have wealth through a carbon price and you don't necessarily do that. So somewhere else, it's a version of potentially of trickle down except the trickle down is through something that's you know, like an unpriced asset. Like I don't believe that I'm sure gonna work like as a, as a theory in and of itself where you don't tax the rich and they spend more money and it goes to, you know, people who have none and this country didn't worry at all. This is a way where it's like, you basically tax the rich through consumerist behavior, and pricing and unpriced asset. Maybe it works better. I don't I'm gonna give it. I like the concept. I like the idea I'm gonna give it an eight because I like it. It's like a coated. It's like a coated tax for the richest. What you're saying? Because you can't arbitrarily increases sales tax base on. I mean, you could, but we don't increase sales talk based on, on your network. But, but since Emma can't afford Yachts, but her buddy, Elon Musk. I see what you're saying. I like, I like that. Okay, Emma. Six. So Matt with the eight I'm with the six that's Emma's way of saying I don't want to talk about carbon prices and he was right here. I'm gonna go with that. I think that headline is a little you know it's a case where the article clickbait. Yes you clickbait very good explanation. I think there has to be a lot of rules around there. I'd be worried that carbon tax meeting increased prices of some essential Goods Wellington people. And not wealthy people. So the application of that Dependency details, so more and more suitable. Instead of six I like cynical, I like cynical six. Yeah six is five. Six is fine. Fine. We got three more left here for our good game January 21st, 2022, joined by our fancy expert. News, Shaw SEC. This is where we get really nerdy and really exposed who we are. Here's the headline SCC pushes for more transparency from private companies, What is before before I'm gonna let you run on this one. What about pushing for more transparency from public companies too. But thank you. Thank you. There's my answer. I don't that's a number. Now, literally, we know the companies are not forced to disclose the number of employees and how much they paid them in many and most cases. And we're out here. Looking for what companies who aren't listed who aren't public to get more information, about them, focus on the basics of what we don't have in public companies already. I don't, this is a waste of our focus and we're only doing it because unicorns Now, command a tremendous amount of, you know, power. Most of them are on profitable and they're unicorn, because SoftBank made a unicorns, I'm giving it a two, like, I just focus on the good stuff, focus on what we need maybe is this, a preemptive strike is this foreshadowing, it's a preemptive strike because they know that facebook slash meta is about to go private. Is that what's happening? Oh no, just no way, here's our fake people. They're fake public already. Why would they have to go private five? I'm gonna go with Emma here on a five. That is a good thing. I think there are probably people that are nervous about that managers are looking for that as well. We need more disclosures and she stays for sure. I mean it can't be I appreciate your point. I mean you kind of like you twisted the the logic there and you twisted the meaning there but it can't be a bad thing to have more disclosure from everybody. But you're right, we need more out of the public companies, all right. I will say Matt, you can't win anymore. By the way, you're falling behind the score, so Gravely, that you here is no winning. There's just oh, right? And I'm right, I'm gonna announce a winner. I'm gonna announce a winner. Two more headlines. Staying awoke data? Israel, capped CEO pay for banking Executives at one million dollars. Capping. Can I can I ask a currency question? Is that converted? I would assume so but that's a, it's not it's not a great answer. Assuming yeah, it's not a great answer. It is converted and and it's down. Well here's the context, right? The they were paid on average about three million dollars. So it be equivalent in the US at the average was like 20 million dollars. You got paid as a CEO of dropping it down to like four million or five million dollars you seven, right? Like it's it's a drop but like in Israel, the drop was not as severe as it sounds. If you dropped a US bank, right? CEO down to a million dollars, right? Okay. Um, I'm gonna give this A six. Why only six? Because why just banking execs? oh, Why it just Banks why can't like is there I don't know it's a good question. I I'm just saying that maybe Executives of other large companies should have their pay cap. Nope. You know in other jurors and other corporate governance jurisdictions. Not the US. They do sometimes apply regulation to specifically, to the banking industry, like they have different and this is not all countries, but they have different requirements for say, committee membership, whatever it is. So, sometimes banking does get a little bit more scrutiny. Matt, maybe you would know, I mean, you're the, the msci banking expert that used to be on your T-shirt but now it's some. Yeah. Somebody replace my t-shirt. Yes, it's the so banks are the maybe outside of utilities. They're the closest sector to Utilities in terms of Regulation, right? Like they they get heavily regulated for a lot of things they do and still somehow managed to break the economy in the process. So like like it's not like they're like they're totally regulated but the Here you do bring up sort of an interesting side question. Which is how big a sector is banking in Israel. That's a question. I don't actually know the answer to. I don't know. Like it's banking's like 5% of Israel's economy and the rest of it is like mining or making quilts or I don't know what what else what other some other sectors and those CEOs are making the equivalent of 20 million dollars and we've capped, you know, Bank CEOs that's the way off your way up on a nerdy tangent but I do think that was happening. Executive pay is what we're talking about. The fascinating part of what actually happened here is they kept the executive pay this happened years ago and now they're going back and they're looking three years of data and they what they found was, yes, they have executive pay. The sky did not fall. The banks actually have, you know, the value of the banks has gone up slightly and There's a caveat to the rule, that was a million dollar cap or 35 times your lowest paid employee, right? And so what they saw was Banks actually did raise the lowest paid employees salary so that it fell inside the rule. Simultaneously. They also kind of cheated by paying their subsidiaries like Bank, leumi as a subsidiary in New York and their highest paid employee in Bank Loomis, New York City area. Now makes two or three times, the CEOs pay, right? Because they're paying them more at the subsidiaries because the rule doesn't exist. Okay. So I don't know, really how to take this? Except a that. Casket of pay did not damage the profitability of the company, did not damage. Norman available at the company, and it did, in fact, increase the lowest paid employees salary. I have to give it a six amp. And 0.9 like, it does feel like that's a seven. Well, they're going to skirt rules for like dollars. Oh, geez, there's no, don't round me. I mean, this is a precise honestly, I think that from what that was a great explanation man. And that was seven, a seven that's too low news. What do you think? So, I mean actually gonna go lower. Oh, there he is. I did learn something from that so that was sure. Um, I just, I don't understand. I mean the way that the headline was written, it sounds like they actually can't pay it a fixed amount. So it like in one million dollar, why do that versus what? That was talking about, which is a ratio of, you know, the lowest wage to the highest wage in a company because you're gonna have to continue to revisit that. That makes sense to me just from an efficiency perspective. Can't use an amount ratio. Yeah, it does feel bizarrely arbitrary, right like yeah, right, you know Banks their smart people at work at Banks like compensation structures will alter and they'll be deferred comp and they'll be warrants and they'll be units and they'll pay them what they deserve to be paid or yeah. What they feel they should be doing with the market holds. So having again, like a fixed amount to meet doesn't really make sense, like I'm right in the US if you had that people who still be getting paid, right? Well it's a you know. It's a good point because it's sort of the bane of compensation Experts of, like, corporate governance. Experts is to, to have any kind of pay that's not formula. That's not based on numbers that are tied to other numbers, right? Like you're right. Like it's it's discretionary at its heart and you think that they could do better, right? They could tie it to something else. Yeah. And then again, my sort of take on this is I'd like to see more diversity in the upper ranks of these firms. And I don't want the diversity to come in. So, you know, you've got all these black and brown people and Leadership positions. And oh, hey guess what? Now, our pay is cats. Like no, I mean, let's see, you know, share, you know, it's gonna happen, you know, just once so. And that's a yeah, I never thought of that. That is deep sinuses and I love it. I love It all the words you just said what? So what score are you giving it a new? You're not buddy. Yeah, I want to again. I mean you gave us six. He gave a five I mean yeah. Simple or I really do we have to have a lesson populations closer then she was right. Let's end the show with one more headline. Yes. And at least in the good game, here we go. Oh, this is a this is a good one for me after overwhelming success with a four-day workweek pilot. Tech company bolt makes it permanent. Four day work week. I don't I cannot conceive of a reason why I care about the company bolt. Considering I do not know what bolt is nor what they do but I do care about a four-day work week and for that reason I will give it a nine. I'm already working like a three-day work week. This is like a square in Damien dream territory, isn't it? Like Scrolling salary's on the wall of every office. So everyone knows what everyone gets paid four-day week work week and 100% female CEOs. For the next 100 years is that's like the Damien dream. Trifecta. I feel like that the stand-up comedy from everybody. Oh, yes. And every employee is forced to do a stand-up comedy routine, annual that and torturous No, no. What's torch sporting? Well, creative writing. Oh, you want to hear a stand-up team from everyone? You work with that company? Absolutely. Have you ever worked not in your home? Yeah, 10 minutes. You would want, you would want to hear the inner workings of these people. There will be that energetic. Consequence of that particular. One is like employees who are incredibly shy or introverted throwing up behind backstage now. Well, it like like traumatic coaching through it lawsuits lawsuits of CEO, Damien, who's forcing them to get up and you can be, it could be absurd. It could be like, how many concerts are changing all over the place? This is not a coherent plan. Yes. But I like that. It's part of the Damien dream like the headlines. Come on. Um, we're I don't. I don't know that this this four-day Work Week works for everybody. I look, I know as as a person who runs his own company with you fools and I'm not talking about putting you a news runs his own company with another full, right? Like, we all basically kind of like work for ourselves in some way. Yeah. Um, I would never work four days a week mostly because like, I run the thing and I don't want to work four days a week. Now, Emma May sit there and be like, God, I wish I worked four days a week because like I came in and Matt or ass hats, and I don't want to work for them. I think. I think there's nothing good or bad about this. I don't know why we work five days and not four or two or seven, I don't, I don't really care. It's whatever works for your company and I feel like whatever doesn't exploit your workers. I'm happy to give this like an eight whatever works for your company if you're saying it doesn't exploit the work. I mean you're I feel like you know what like it's usually hypocritical for that state. No our work. If like our team like I couldn't make Ari the data Queen who's not here today but I could not make her work less than nine days a week she just does it. Like she's just a good thing. I tell her go home. Stop signing in. I'm not texting you. I don't stop working. There's nothing to do right now and she does it anyway like what do I know? Like? So the news is a new doesn't know, I am absurd Franco File and I very aligned with the idea that there should be some work life balance. But Matt is a Franco Hater. That was that time. I'm Franco indifferent. I'm most like, so. What's your, what's your number here? I just like French Canadians. I oh, deep in Damien. Yes. So I don't know. I mean, if I I don't. Okay, I agree with that. You know, I make you less competitive to be a four-day work week. Like some people are going to work, five days and people work. Seven days if that's what you want. All right. That's it. That's the good game for January 21st, 2022. Let me. I'm gonna give you my results. Usually, I give an average score. It was a bit of a tech nightmare. I apologize to a news for that are our fancy expert. Did not get fancy Tech, let me know the winner. Usually we do scores, We're not gonna do scores this week because we had our fancy extra Arbiter of Truth. The judge a news. And so I'm going to tell you who he thinks won the most rounds here. And I'm going to say that first of all, you tied twice, okay? Two rounds, we had 16 rounds, touch twice Matt. You only won two times twice now. Matt Mascari, look at that. He could see the SAG on his face a little bit. I don't write, you won five times, but the big winner here really is a new himself who agreed with who agree with himself. Seven times over the big winner of the week. That's why we need them. Yeah. No. This is a, this is the best outcome for me too, because I just love that both of you lost. So that's true. That's sad though. I, I do want to know that my I averaged I believe was a sixth this week and Emma's was a 5.25, Emma's a surprisingly high for me. Yes, if I want to seem like such a like a downtrodden person, I think having a fancy expert means Emma is terrified of sounding like the the hate-filled Jazzy or that she is playing the game. She played the game. She played it well. She really beat Matt. That's a good game before we get Addie here news. We typically have category who won the week, who won the week. Oh yeah, this is high level and we'll get back on the week when you think won. I mean, there's only one winner, right? We don't know Damien. And I talked about this really briefly in pre-production. I'm gonna just go out and say, Bobby kotick won the week. There's no way this yellow actually. Yeah, did not win this week, like unfortunately brought him 700 million dollars, he got an ESG bailout, everyone's gonna forget his name and in a year and there's no prosecution, there's no nothing. He gets the shiny veil of Microsoft around him and he rides off on a pony as a billionaire. Do billionaires, right? Ponies. I think that, no, they write space dildos. So he gets in his space dildo and rides off into, you know, the future. He's the big winner not just the week but he's got a year worth of winning coming. Unfortunately, I'm gonna have to agree with you on, but I will say that. He potentially invented a new category of executive Severance calling this to golden showers parachute. And I and you can edit this if you want to share this with the news with anyone, you can edit that part out. No, you can't. That's right. This isn't my, this isn't my workplace. I'm sorry. But this is I didn't create the environment that Bobby because this is what it's called and are the data Queen who's not here this week. She actually voted for a news, a news, one a week. So now I'll be one for. You know, what do you think unfortunately, Bobby did win. There's no news loses. You had a boat it wouldn't matter. You think won the week and you? It's hard to not say no pressure. Maybe Larry fake. Yeah, yeah. You know typically Wonder Woman week but this Microsoft acquisition really sort of stole the headlines. Yeah. Okay. But I think you're right. My instinct was that he think that think won the week. Yeah. Before we wrap up we usually give our predictions. I don't know if any of you have any but I can I'll say mine somewhat slowly. Give you time to think of it because I know you don't do your pre-show prep. My prediction. Is that speaking of Bobby kotick? I actually think that the severance is going to be reduced. I I don't think he's gonna at least walk away. So that the proxy statement for Activision Blizzard 2021 says that he should make in the territory of 300 million for a for change of control scenario. Termination with the change in control, which is what this is going to be. I don't think I just I don't think it's a bad look. I think Microsoft is on its ESG ratings game. I don't think this is a company that plays that game better and I'm not saying that they're doing out of her greenwashing. I actually kind of much, is Emma hates me saying this. I kind of like the way Microsoft operates itself in this way. So I I just think I'll just say this, if they don't reduce his Severance, I'm going to be this very disappointed disappointed in Satya Nadella, the guy that that I think I picked to go to Mars with. Or did I pick Sundar per child? I don't remember that was a while ago and I think you pick such an Adele. Yeah, okay. I think that's my Branson is I think it's reduced because I think it's ridiculous and I just can't, I can't stand. I just think. Yeah, they're gonna. Yeah, anyway, that's not good. I yeah, go ahead. I had a much more boring prediction, but based on this episode, yeah, I have a much more exciting prediction based on something I said earlier because I'm obviously a genius and it is that Mars, the candy company will have a metaverse. I'll decentraland all on. Nike's, metaverse. More, you can create your own M&M pursona and you can walk around a chocolate universe as you're Avatar. That's happening. It's not, it's not winning the week but it is a prediction. It won't happen in the next week, but you're 100% correct. Yes, I know that's happened. Um and another predictions. Like I I I'm gonna follow up on yours Damien. I actually think that that there's either or a shareholder lawsuit or a class action lawsuit from the employees to claw back. All I like Bobby Kotex, I like Severance. And I think that because as you pointed out rightly in a show earlier this week, something like nine out of 10 last 10, shareholder votes on Kotex pay were 11 10 out of 11 where actually pretty significantly against his pay in some way. There was a significant cohort that was against his pay and I think shareholders don't are not going to be thrilled with the fact that literally of the 70 billion dollars. That Microsoft is spending almost a billion is just going to Koch himself in the end. I don't I don't think that's going to stand. I think there's going to be a shareholder. Lawsuit to Club back as exactly. And I don't know if you have a prediction on news but before you get to get to you already the data Queen, who's not here? Again, her prediction was a new will never talk to us again. That's her. That's a good. That's not that one. I could tell you. So, okay. Sorry. He's sucking up now. I don't have my own prediction, but both of us in terms of the Metaverse and falling back the day. It seems like that. Yeah, they both. I'm gonna make a prediction. I'll make a prediction for you, a new, which is there a new version and Tamara the closed group consulting had 10, I want to thank a new Shaw and and closed group. If you need an ESG expert, you got one. Now, I have the T-shirt, they actually have the expertise call them up and you can ask him any questions that you want. In fact, we should send you guys t-shirts so that like, you'll fit in when you go to, when you go to client meetings, thank you for joining us. This has been a business pants, Fancy Pants edition of the good game. I'm at Mascari, as Emma, lurking, Damien Rallis, we are free float media. If you like this, despite the technical difficulties, we know you did. We know you like this because guess what? When you go to parties, when you got to talk about like what you do and no one gives a shit. We're giving you talking points that they care about, right? Like it's not just wonky. Bulshit, we're giving you real stuff. Send this to a friend, subscribe share. You can get this Live on YouTube and all those places, but you can also get us an apple. And Spotify and Google and Amazon, and all the places you get podcasts overcast. I don't know. I actually Are podcast Republic. Is a big thing for for our listeners. I don't even know what that is. So thanks for listening to us there but if you Go check out our news and all his social go to close group consulting.com. You can also check us out on all those social places. We'll be back next week. I won't because I'll be licking handrails at Disney world but these fools will be there and you can catch more of them next week.