Transcript
Live. Full from the 49th floor. It's a nice view today. Clear skies, it's a fashion forward edition of business pants. Joined as always by Emma, lurk tastic and Matt, Moss, discordant cardi, I don't. What is happening here? What is that? What I'm the singularity? Wow! And today's ethically scented back of high yield nuggets called May 24th 2022. Davos trousers, Human Resources, fails headline hijinks and Emma's stakeholder grab bag. Let's get to it. Come on. I smell the ethics. Let's go. They're putting a timer up for me today. What do I get today? I get Davos. Okay, people New York Times dealbook. I don't know how many people know about the New York Times dealbook but this is their serious business newsletter or do every day. Here's the here's their Here's their article today, Davos and a time of words called here are the topics at Davos Selinsky takes Center Stage, there are signs of Russia's growing isolation from the West, us politicians stressed. The unity against Russia even as cracks. Or forming beyond the Russia, you can create the CEOs are anxious and worried about the economy and then this last section, and what did they wear? No seriously here. Everything from business, casual to outfits, typically seen at pricey, country clubs from sneakers to Manolo, Blahnik heels. Good job, Etc. Yeah, thank you. Thank you. New York Times. Thank you, New York Times for talking about income inequality and then Manalo Blahnik heels. So we have, we have some of the information left on The Cutting Room floor. The New York Times was nice enough to give us some of the stuff that I didn't include in the article. And I have the three of the CEOs. We talked about a lot first Berkshire. Hathaway CEO Warren Buffett Buffett. He were a 1974. Sears men's brown three-piece jacket. It was a 44 is real. This is horse. 44 Shore, you got it ten dollars at a flea market in Saginaw, Michigan soft Brown, polyester. Twill it's got oh, two brown marble synthetic buttons in front three buttons on the cuff. Reversible vest once I brown one side a little brown blue plaid and a trousers. A slight flare towards the ankles Evan Spiegel CEO snap. He was wearing a, a logo print cotton Jersey hooded sweatshirt from Gucci which retails for 1300 dollars at matches fashion.com. It was black. That's 100% cotton hand wash only Matt and it comes from Italy. It's actually got a dual class blend of. Yeah, finally, Emma. The New York Times told us that Jane Fraser CEO City group was wearing, a two-piece lace suit dress suit from JCPenney size 4 retails for $160. But if you use a code called Kid Flash today, it gets it down to 102 dollars. So wow a line, long sleeve jacket, single-breasted two front slip Pockets, 100% polyester but dry clean only. So still classy. The dress is lined. Zippered flat fronts and that's all 100% polyester dry cleaning only and country of origin. It doesn't say where but it is important. So that's good news. It doesn't say by Pakistani children moving on. That's that's the report of Davos. Thank you. New York Times for your serious that business reporting. They left that out. Moving on quick hits from the world of Human Resources. Clarina. Klarna is joining the game of horrible ways of fire and your employees klarna is a buy. Now pay later fine Tech out of Sweden that doesn't sound good. Bye now pay later that kind of scares me actually. But what here's what clarinet did the CEO used a pre-recorded video message to tell employees around 700 of them were being laid off. Pre-recorded. Video message. I spent that time I'm gonna fire. Yeah, so I spent a lot of time at the clarinet website today. Looking through so many websites, who is the global head of HR? I have no clue. I don't know. I cannot figure out I did, but it seems like an important a mission here. Why the hell couldn't? I find this actually? Yeah, I'm not sure. This is omissions anymore. We did this for a number of companies a week ago, two weeks ago and couldn't find the mic. Like, I think, are they hiding Global? Here's where they're not hiding. Here's what I did find a clarina I found in their ESU report, that 43% of the normal employees are women 30% of management or women and to only 22% top leadership of women. So you can see how that the works. There we go. And yeah, sure. Um, this only to the benefit of Matt and Emma, unfortunately, we'll put it in our newsletter. Here are some of the photos they use for their all the reporting for their 2021 ESG report. There's a picture of a very fashionable. Black woman wearing big Green sunglasses with a big green scarf. I don't understand for their toy. She's not on management though. She's not for 2021, annual report. There is a Woman Within very red lipstick staring into a pink mirror. Okay this is all True. By the way, I'm not making this part up. Emma for the yeah, this is not the board of directors report. There is a woman again with nice, nice lipstick, nice nail polish. She's kind of sexually peeking through pinkish and blinds. The board of purple purple on the board for the again. This is all true. All true. I have links to all this for their group and parent company financials. There's a woman in a green glove. It's Bejeweled, it's using a gold knocker for, for the notes and accounting principles. There's a very fashionable young woman within a yellow kind of shiny jumpsuit with big platform, sneakers staring at her phone. And finally, for the corporate governance report is a, looks like a pair of women's boxing gloves. Against the Purple Heart with the word pow on us. So how do you know their women's boxing gloves? That's good. It's a good. You know, I'm just assuming based on all the other photos all the women washing their doing here at clarina the pink laces. Yeah. Oh, look at the other pictures and when you tell me who's boxing gloves, those are just moving on. I got one. Oh, for you Matt, you know, who's on this board is Twitter's very own, very own Omid kordestani. Yes. So oh man, is that is on the board of two current shit shows that recovering Twitter and clarina I love it. Love it. Love it, love it. None of these pictures are of omit. And my final story today and Human Resources, fails, coinbase is reportedly. Testing out having employees right each other in an app with a thumbs up or a thumbs down or neutral after meetings and other interactions. So that they can rate each other based on how. Well, they muddled 10 core values. And I looked into this one because this sounds like a great recipe for a really happy Workforce. I looked into this one and here's the outlier at this company coinbase is that their Chief people officer is actually a dude, you know, it is very rare, it is very, very rare to find a corporation with a, with a head of Human Resources. Not a woman and it happened to be a coinbase where they're asking their employees to rate each other after interactions. Yeah, there you go. I give that a thumbs neutral. I'm scared of that. I'm completely frightening. All I Kind of secretly. Want to know how you would rate me after every interaction, like right now. Like after that amazing, seven minute Rapport, what do I get? Come on. You get me going, that's it. I don't even know I said, but you get a ring me that I'm gonna give you a thumbs down for not rating. Me then you're not doing your job. I'm gonna give you, I gave you a thumbs neutral. I give everything. I remember, what do I get? Because I knowingly living in a Black Mirror episode, just so you're aware. What do I get a rate? Me Emma, I need it. Up. Yeah, Ray dalio you're taking notes. It's your company that invented. This is this this is actually called real thing where you rate your college is called dot collector brought to you by Bridgeway Associates, the hedge fund on by Ray dalio congratulations. All right, all right. Put five on the clock, I have a short segment, I'm calling. Hey, headline writer I'll start it off like this. This, it's gonna be obvious. What's going on in billionaire Diaper, Baby, founder fetish news, Here's the headline, Elon Musk lost 10 billion in net worth in a single day after sexual misconduct, claims emerged. Hey headline, writer maybe the woman who's degraded by the billionaire. Shouldn't be the afterthought in your headline relative to how much money the diaper baby lost. Can we just stop for a second and say why does the headlight? Why should I care more about the 10 million lost which is the first part of your head did billion that he lost paper relative to the sexual misconduct claims that come right after that? I care about the second thing. No one cares. How much money? Elon musk's lose more importantly, right? What happens when when people miss our pre-production meeting because Emma and I agree that we worked on talk about Elon Musk today. So Too bad. That's actually talking. I'm talking to a headline right or not about Elon Musk. Second one in my here are my real thoughts, but please don't tell anyone news the headline is HSBC executive comments, downplays climate change, right? That's the headline of the New York Times. Hey. Headline writer. Downplays. Downplays here is what he said. He said, quote who cares. If in 100 years, Miami is underwater. A follow that up by saying Amsterdam is underwater today and it's perfectly Pleasant. Then he said, quote unsubstantiated shrill partisan, self-serving a public. Apocalyptic warnings are always wrong drill. Sounds like a misogynistic adjective there. Yeah. All. So you wrote HSBC executive, the executive was the head of responsible investing? He was the head of ESG. That's who said this, the guy's job, it is to consider climate change throughout all of each species, Mars Walking Dead. I want to go more into this. There's a lot to unfold here, but can I just say two things quickly? Matt HSBC is. That's the the bank that was laundering drug money for drug karting. A lot of the the really scary liberte key in like Bros or moving to Miami. So maybe maybe I wouldn't mind if it was underwater. I don't know. I'm just, I don't know. I, well, that's that's a different. That's yes, I'll let Miami know that you don't care about the butt and other downplays news. Samuel Alito downplays Women's Health rights. Russia is currently downplaying Ukraine. And I'm down playing the framing of that article so we can all downplay. See. How that works. And my final with you, I want to pause on that again, HSBC, executive. Comments, downplays climate change. He's the head of sustainable investment. He's not just an executive I mean that headline right to fail and is downplays, is basically why do we have to care about? This is happening 50 years from now. He said he says, like I have to deal with inflation China. You know crypto regulations, it's a whole thing. We'll talk about it tomorrow, but in my final, hey headline writer in. If I used the word Target, doesn't make it sound like a strategic error news. The headline is cattle palm oil firms. Miss deforestation targets report, fine. Here's a quote from the actual report. Deforestation continues. Almost unchecked Missed the targets. Which targets did they miss? All the ones that they set that they didn't care about? I like to think that if Pepsi used all the water in India for Sugar, Ray drinks. The headline, shouldn't be Pepsi, misses water use Target and maybe it should be Pepsi, decides, it doesn't care about brown people uses. All their water says, oops. Yeah, that's a better headline. Write better. Headlines. That's all under the five minutes. Well, I don't, I really don't get that one. I'm taking you read the article. Why were they focusing on missing targets? Do you know, Because they the report goes through like cattle and like pammel using companies. And looks at the targets they set to slow defense station and says they didn't hit. So this is perfect actually, but it's not that they didn't hit them. It's that when you don't hit a deforestation Target, you know what you're doing before you just clear cutting point of view that hates all things, ESG. This is beautiful. This is beautiful music because you can, you can get out there and you can apologize for missing your targets and you don't have to apologize for deforesting. Yes, they did. That works out there saying worse. Um, you know, we missed our targets. We're gonna set New Year's. We want to be aggressive. We'll get it next year. Oh, PS, there are no more videos. You don't have to do that. Don't have to say that. All right. Come on. Emma. It's a headlines. You want to give Matt a review? Wait, I'm gonna give Matt a. I'm gonna give him a thumbs up. I like that. That's fun. Yeah, that's right. That's hate to admit. Would you give also giving Matt a thumbs up? Two thumbs up. Yeah, redial as well right? This is fun. This is fun. Writing stuff is fun. I'm a. Come on, go. All right, let's wrap this up. So well, no time, no timer for Emma. I just want sound effects for Matt. Yeah, yes. Wow, torture for me. Okay. I understand how to come on. Emma, and we all realize you Um okay, so today is Quizlet so Damian sort of advertised it as some stakeholder. Like quiz themes, but lately, stakeholder themed, but it ended up being more like, headlines. I got sucked into. So there is definitely a common stakeholder thread, but it's a little more random than that. There's more. We know that these are the things you love. You love stakeholder stories, like he loves you and all. That's all that funny stuff. All right, let's do number one, number one, here we go, he's buzzing the banter. Yeah, come on, thank you. Matt Youtube. CEO Susan, would just skis speaks out on Roe v Wade Reproductive Rights are human rights. This will be a big setback for women. So we have a CEO saying something. Thank you, Susan. However, the unfortunate part of her statement is that she did specify that her statement was personal, it had nothing to do with the company. It was not on behalf of two. He's in stocks, just Susan's thoughts. Well, it's funny. He said that because she's, I mean, YouTube is a funny one, right? Because it's technically, it's Google, right? It's alphabet. So Yeah, it's a whole it's a weird one. Yeah, weird one. So your question about this story is how much money has Susan Wojcik donated to Republicans since 2008, your choice is our zero dollars. Yeah. 700 dollars 11,000 dollars and seventy thousand dollars. I think this question slightly misleading though because Republicans really jumped a shark since 2016. I feel like from 2008 to 2016, they seemed like relatively normal human beings. They don't think I'll give you a little bit of a clarification on that sure. Don't think so much about the period of time, politically. Think about it? More like over the course of that many years, how much money could she reasonably? Give personally donated personally donated, personally don't need it. I mean, I, I'm gonna want to say it's the highest. I'm gonna go 70,000 because I just feel like she got a lot of money. Republicans buy YouTube too. So, you know, come on. That's like, that's my guess. I'm gonna say 700 dollars because I feel like that's funny. Yeah yeah and look at the audience agrees with me. Come on. What's the what's where are we going on? I have access to the sound board too and you're both wrong. It is actually zero dollars. Oh so however this was oh there's a however yeah, this is Sort of a trick question, sorry, but she is, when you go and look at her donor page, you can see all the individual people, she donated to, in addition to the parties and packs. So, she is a frequent donator or sorry, don't don't donate or donor to Google's pack which has donated to more Republicans than Democrats. Since 2012. Really Susan has given her the Google Pac about 46,000 dollars. I mean first, I'm a little surprised what you're telling me but second, I don't know if this is any of his surprise me anymore. Know the, the big joke here is that the CEO of YouTube is talking about human rights YouTube and truly that's well. Hey, see, I still support. I know you guys made fun of Sheryl Sandberg to I support anyone who speaks up about this because there's like, it's crickets out there. It is so quiet with anyone speaking up about this. So all I'm giving her Susan credit, this is not a good Susan credit for this one. Move on. You Call of Duty Studio workers, secure historic, win in gaming union. Vote know some background that Matt hates quality assurance testers from Raven software have voted to former Union with a 19-3 vote count. Yes, the national. Sorry, the National Labor Relations Board has found that Activision, Blizzard has obviously illegally threatened employees and violated their rights and it will end up in a lawsuit if Activision doesn't settle. The charge is so the National Labor Relations Board would sue Activision. So for my own entertainment, here's a question, please give me a sample response to the union vote from Activision, Blizzard corporate, I'm the news Outlet looking for a quote. You are an Activision executive Damien, your first my response. Wow, yeah. The positive vote for Union. Yep. I'm thinking like, are they trying to kiss, Microsoft's ass but then again in Microsoft doesn't want. That was a good. They don't want unions either. Probably, I mean no one actually wants unions at the corporate level. I'm going to say they're going to say it's a shame that they don't. Love us. Mmm. Yeah, no, it's a shame. They don't love. I don't answer this question. I don't know. I'm drawing a blank, I'm gonna be honest. I don't know. They're gonna say I hate you all. That's where they're gonna say. Yeah. The answer is probably more along the lines of, let's see, while we respect rights of workers to form unions. We do feel like partnership would have been a better way to go. We're hoping to have a constructive conversation with these employees as we go forward and look forward to the ability to, you know, sort of change the culture with them. Yada yada yada something. Maybe they give him a, maybe gave him a virtual, it's fine. Maybe a virtual halt cost blanket, that's right. If he hadn't already fake Applause himself, so I'm not gonna give Matt props anymore and the real response they gave was dead. On for Matt was we respect and believe in the right of all employees to decide whether or not to support have or vote for a union, we believe that an important decision that will impact the entire Raven software Studio roughly 350, people should not be made by 19 Raven boys. Okay, but okay, but yeah, explain him. How are only 19 people? Voting for 350? People believe that it is like a Union within for a specific group within Raven software. I think it is only the quality assurance testers. So what have you unionized? But they're not deciding for everybody know? They're not which is why it's a stupid thing to say. You did leave out something in this story, which was, they announced bonus or bumps and pay for the other Raven employees just not? No, that's not true. That's the Starbucks. That's great. Yes, that they shot. I like Schultz does a verb, but Hawkins, can that be legal? Cannot know, I know not legal. Which is why the National Labor Relations Board is like having a problem, right? Okay. Okay. Thanks for that. That was a pressing. Thanks. All right next one up finally. Well I like that and finally my favorite two work. Yeah. Okay. Walmart recalls ice cream commemorating. Juneteenth we will slow down what we're commemorating. What commemorating. Juneteenth ice cream backlash. Hey are you screaming? Right Juneteenth. Yeah, the whole world. It's hot. The, when black People were emancipated. Yeah. Yeah, it's like you know to I don't know I don't actually don't actually I don't I don't actually understand this one. I don't get it ice cream a statement that someone made a response to it, it'd be like making an ice cream to commemorate the Holocaust or what kind of what kind of ice cream would that be, like, what kind of Sunday we're getting to that, don't you worry? So, first of all, we have an apology. Walmart has a apologized, a pond Their heavy in the board today. Alright so here's the apology here, holiday marks a celebration of freedom and Independence. However, we have received feedback that a few items caused concern for some of our customers and we sincerely apologize. We are reviewing our assortment and will remove items as appropriate. Oh, so these were these were actually things that we're going to sell. They're selling okay. Yes, no. No they yeah they were capitalizing. Yeah sure why not? Yeah one of the most terrific human practices ever, cool and the other factoid. Before we get to your question is that it is important to me that you know that the carton of ice cream was branded with the roster in colors with yellow, green and red and I can't show you for reasons that will become obvious in a second, but it was really something on the okay? So Neapolitan, yes, yes. Yeah. If like a black and so, please leave actually know that, this question that I'm about to ask you was originally multiple choice, but before I switched it and one of the answers was the Rastafarian colors as a Neapolitan, okay? But completely lost your question. Yeah, what flavor does? Walmart think in captures the end of the most horrific human practices? In all of history, this is still in the blank question. Do you think when you put it that way really you're right. They picked the flavor, they had to pick up to it. Tastes like something. It's one thing to just have ice cream like vanilla ice cream but they're picking a flavor. Oh boy this is a good question. You know they sat in rooms and thought about this before they did it. Well maybe you know clearly not that much thought could have possibly gone? Is there what is there a flavor of repression? I'm gonna go with deep irony and say vanilla that's a good one. I was gonna say like What about? Acrid licorice. Is that a flavor? You're going with accurate licorice. Isn't that a fear? Isn't that a flavor? What would I want to eat on June? I don't even understand the question. What flavor? Yeah. What I mean? What you wrote Rocky Road? No, no, cotton candy. These are some answers. Make it as offensively. I couldn't possibly I mean it's the most expensive thing. All right. Why not roll. Please for the reveal of the ice cream flavor. Netflix and chill. It is red velvet with cheesecake swirl that delicious show. Wait, red velvet. And what cheesecake swirl? Okay, let's take, let's come on. Let's think what were they thinking? Matt? What will the Walmart executives? Think of red velvet. Okay. Maybe like a soft Landing after years of pressure. Maybe red bell pepper. And then the swirl we can't get too just because everyone will just write even black people love story. Okay. That's it. That was somehow. This is business news. It is I'm not sure. What, where in here was the business part of news, all these are real companies real, real research, all real things, most of it. Except the real things except for where Warren Buffett Evan Spiegel and Jane made out of those does them I might or may not. That's me wrong. So now I'm working. I am at Scotty, we are free float media. We'll be back here with woke Wednesday. We're gonna take a talk about hsbc's. Terrible, terrible. Oh, Bloomberg ESG, story. That quoted our very own atmosphere. I was talking about that too. Look for it. I don't know who let you beat you, I guess you were tomorrow. Goodbye.