Transcript
Live from the amazon.com Grand Ballroom at Stuart, Kirk's favorite show. I'm guessing that's us business pants. Do you think that's true? I hope that's really appreciate Us in some way. Join us. Always by Emma. Don't talk about me. Lurking. And Matt do talk about me Miss cardi, I'm just plain old me and today's ransack bag of B-side nuggets. You know what besides are B-side? What's a B-side? You know, that is Emma. I am a cannot know what to be safe. It's gonna do this record. It's an a side and a b side that was your moment tomorrow on Grandpa rolls his show. He'll talk about his first fugazi show. Where are we? Oh, it's May 26th 2022. Today, we talked about a little bit of Sexy, boardroom drama, and both Matt and Emma dive into the world of comments. I don't know what you're up to. Yeah. What are you doing? It was not a great idea. This was not a great idea. I don't know what's going on like it. Matt's looking at comments about us or other things. I don't know what's happening. What do you guys doing? What do you doing? What are we doing? Okay, forget it. I'll move on. Where am I think about? I'll do the first story. Yesterday May 25th 2022 really should be a kind of a business penalty because let me tell you the three companies that all had their annual meetings. Are you ready for this all in the same day? Probably are. Maybe our three favorite companies Amazon Which is actually beneficial renamed those as Bezos ghost. I didn't know that. Really Facebook. The marketing team did not come over the great Facebook, which is actually met a platforms. Now, officially And Twitter, which is getting to be renamed musk verse. So, yes, so Twitter meta, Amazon, all other animals. The same day and Emma wanted me to talk about it. So let's get it out of the way, you ready? You did you told me that you told me to talk about it? I said that I would do it and you went fine, I'll do it. So put on oh really I didn't okay I'm sorry I thought this is what prediction probably right. We'll start with Amazon. Amazon had a record 50 shareholder, proposals, 15. That's a lot all of them. All of them are rejected by shareholders including a proposal calling for an independent audit of working conditions at the e-commerce at their warehouses. I don't know why would you vote that down? What's wrong with the What's wrong with that one? That one seems pretty good fun. I don't know. Anyway, I mean out of 15 you should be able to find one thing we agree one thing, right? One and I said technically shareholders have a voice at Amazon because beyond the Bezos Vanguard Block rock ownership which is 25%. Technically the shareholders are allowed to say what they feel that Amazon just saying technically, here's something I haven't seen before in from Amazon, website, to express our appreciation for your participation Amazon will make a one dollar dollar charitable donation to The Nature Conservancy on behalf of every sure, holder account, that vote's Account, not share. Right. So what at Facebook? That would be one account Mark Zuckerberg. But I have you seen this before where they don't? This is like, if you hit a home run, we'll donate $50 to the Brighton. Hospital are they I mean they know exactly how many accounts there are, right. So, like they basically just said, we just donated a thousand dollars. Thank you. Move on to Facebook, made a platforms. They saved one Egret. I have to tell you, we lost two of our favorite directors, yesterday. I know it's been sad and a plan move. Peter teal. Step down from the board. Okay, it's over. He's gone. He's gone from Facebook and Metapod. He's gone and Emma, Emma. He's gone. I know, he's gone. I'm afraid of where he's going, but I also do. We know why is it just like my time is done? I think so. He has other things to do. He's been there for more than 15 years. I, I mean, I think it's part of this. I don't know what's going on with the sucks. Something's Happened. I think he got bit by a ginormous seat. Seat, seat, fly actually, but but something's going on over there. We don't know what they've been oddly quiet. Yeah, I just think, I don't know. Maybe he's sick of being hated and he wants Peter got, I don't know. I don't actually, I don't know. I don't have no idea. it happened, I think he actually I think there's a some legitimate like feeling that he left So that he could go spend more time influencing elections. I think that's what. Yeah, but it's not a great place to influence elections. The board of facebook slash meta isn't that the place you would think? But no, you would also not think otherwise, all 12 shareholder proposals, including one asking for a report. Assessing the risk of increased sexual exploitation of children. We're all voted down but we don't why don't even care about this? Because as we know Zuck controls, so 57% of the vote, and I just want to point out, one foot note that I love, not only does, he control the vote. He actually also control has voting control over dust and muskovitz chairs. Who's that? Oh, one of the co-founders. If you've seen The Social Network, you know him he's one of the co-founders of Facebook but somehow Zuck even ended up with the control those boats. I just love that. I love that. Wow, he wrote that. I did not know that. Yeah, in The Social Network, who is Dustin, which one is he makes? He's like in the room when they they're like coding and he's like in the corner. So don't give me this shit. Don't give me this. If you've seen The Social Network, you know. Whoa, I know who he this is. The only reason why I know like Eduardo. When I didn't know who Eduardo was that, might be a problem. What dusted, one of the co-founders, who is Justin officially a cop on her? A Facebook? I'm just saying. Yeah. And finally at MUSC verse which is Twitter and another plan move, man, Ready for this? We have lost Jack Dorsey from the board of Twitter. Well, we knew okay, but we need that again. We did. I know but Aren't you too little? I just feel sad. I don't know. I feel sad. I feel sad a little sad. You are you sad about that? It's gonna mess up. We have our influence scores, their product that we're going to be launching pretty soon. I hope Matt yes very soon and Matt. It's thrown here. This is gonna really affect the info. I mean, that I am, I can't wait to see how you update the board here because now who has influence, Over this board and Egon Durban, let's get to it. Here's the other big news and here's the actually the only drama going on is that elon's what? It's not elon's Cousin. He just happens to be named Egon. Egon Durban who is the coseo at Silver Lake. He got booted from the board. From Cheryl Cheryl said, no to Egon. Bootyard plays. So, technically speaking is now required to Tender his resignation, and the board actually can reject the resignation and here's where it gets interesting because the He is a big friend of Elon so what the what the no one can figure out, is this is this a shareholder vote against Elon or is it because Egon actually sits on like I think it's seven other boards which is a known. Oh and for for companies like ISS glass Lewis, they don't let that they don't like that. So they actually recommended to vote against Egon because of that, not because of Elon. But the business press seems to think that this is an anti Elon move. So. Whoa, what's the answer here? Matt. Do you know the truth? What I like about it, is it ignores how Egon actually got on the board which Egon was part of the activist group? That was the first activist in Twitter like two years ago, right? And he gets on the board through. That so Egon the activist because of Twitter's bad governance when Jack Dorsey wants to move to Africa. Is on seven boards and they put that guy on. So they put an activist on because a poor governance and in the activists that they put on is poor governance. Yeah. I I just like I like the full circle completely this of shareholders being like hey wait a minute, you sort of suck at this governance thing, maybe you shouldn't be on the boarding. Well here's a little bit more nuanced. So the who decides here is actually a nomination Committee of Twitter decides at the, except his right his nation and you know, who was on that committee, Egon himself. Oh, but beyond that say, does he have the chair of that committee is Martha Lane Fox, who, according to a recent filing is actually the one who had a, she had a one-on-one conversation with musk inviting him to join the Twitter board. So okay, hang on. Whoa. Oh yeah. Whoa, yeah. Do you know what I'm gonna say? No idea. I don't but I'm excited when we A while ago, maybe like a month ago, back in the early days of, oh my God. Twitter's imploding. We went through every single Twitter board member and we made a judgment call about if they were going to be Pro, Elon or anti Elon, like how much influence they were gonna have. And I said that Martha Lane Fox was gonna be a big Elon supporter. Because and I'm sorry and both of you shat on know so hard. Actually you both don't know. You're wrong. Actually, because we both said, no, because we agreed. It was a. Yes, actually. Didn't we? We have I have I have I'm looking at the notes on our record. We both said yes. She's talking. Specifically about Martha Layne, know, I have a, yes, here, I'm looking back at what we decided and we have a yes by her name that. Yes, she's four Elon. She's got like a Peter tilian persecution thing. Oh, no, right now, all I know is that if you go back and listen to the episode, you guys are giving me insane shit because I was fine. Marjorie Taylor Greene, you know, white lady with three names. They are always end up kind of insane. All right, except for AOC, sorry, AOC, provide the tape for next week. Let's get into it. I will. Okay, let's move on. So, I okay. Why don't you guys both make a prediction right now, then will will Egon actually be from the board. What do you think? Yes he resigned. No no but will they accept his resignation? Because this again this is really good to go up the chain to Elon. You think is Elon gonna decide this It won't matter because elon's financing is going to be different, he's gonna buy the company and it's going to be a total shitshow nightmare. So yeah, okay. I will say this glass Lewis and ISS also recommended shareholders vote against perigo. Agarwal's pay package, which is 30 million dollars but that didn't happen. So maybe shareholders are pissed at Elon. I like this comment. I saw from an article in the financial times from a woman from a user named Nancy's. Hairdresser might not be a woman Nancy's hairdresser said, where's the outrage on this clowns 30 million dollar PayPal package Yeah, Nancy Nails. Not hairdresser. And finally, I will say that again, shareholders or Twitter are obviously a lot of them are agitated which is probably a sign that they're not happy about Elon coming. They actually said, yes, to two different Cheryl the proposals. This is relatively rare don't forget, they said yes to a report on electoral spending and they said yes to report on the risks of the use of concealment closest, That you know are used to hide harassment in other issues behind ndas so I don't know, pre significant, that's it. That's what's going on. Well, I went through when I trolled because a bunch of these stories that we've been covering today and over the last two days, I wanted to know what the people think we know Twitter. They think that they hate Egon. And they hate concealment clauses. Now what we know is Nancy's hairdresser is outraged, a clown 30 million PayPal, which we don't know which clown, right? Like she didn't specify or he didn't specify which no, no, it was an article, the Twitter vote is, the clown is parole just saying, clearly it was it seemed it could have been other clown. I just so what I did was I went through and I just pulled a couple of random, like comments, good on all these websites about some of these stories and I was gonna run through those. This is not my commentary, these are comments real comments from ostensibly, real people not Russian Bots. So, speaking of Elon, let's start there. On musk buying Twitter and generally actually being a billionaire and Tesla and stuff like that. Here's some that I found. This is from Verge Island X or Rose electric cars became mainstream because of musk full stop to which Forward is till the only way is still. Yeah, forward is still the only way all one. Mashup said, I think you misspelled government subsidies. That was the response to that. That's the back and forth. So now we're talking about spell check. Okay? Is that actually? I think I have a very benign question. Matt, is it true? Is it is musk responsible for? I I always like I credit Prius for some reason. Toyota, I feel like Toyota was the I also cut the previous was like the What is it the way the bridge between these two worlds, right? But is that true that Tesla is really at the Forefront of EVS? I don't even know the answer to that. I think the important part to know is that first of all Tesla was founded in 2003 by two other people, right? Not as Emma, always says. Elon Musk bought it with his Paypal Fortune. Yeah. That he got with Peter Thiel and then they used government subsidies in order to build the R&D right which he paid back. And now the Tesla you know is because of those things now Prius I mean GM invented, the electric car and like 1975. Right? Like this. This is not like a thing that invented. So it's been mainstreamed basically what he did was turn it into like an Apple product he made it cool. Okay, I got it. That's what he did. So that's what that that back and forth was but Fox News, the comments were a little bit different. Okay, let's do it. And this was about musk buying Twitter, this is Shiloh. Comes said Twitter, shareholders, should be ecstatic. Biden, is destroying the stock market? Thanks to us. Twitter is one of the, the few stocks that isn't collapsing. What? And being reasonable responded, lost my Facebook password, two months ago. Thanks for the update phone. This is the internet. Okay? What are you lost? We lost it. Lost my face with Pastor too flying. He carries it around on a piece of paper and his pocket. I'm just saying in response to Twitter. Shareholders should be accepted. That makes a lot of sense to me, although it's worth pointing out. Shiloh comes? Yeah, Twitter stock is down about 25%. Sure. We know, we say this, right? Yes. What is collapsing? Anyway, yeah. What is collapsing? If not 25% referred to as like a stock, like a musk stock tax? Like, yeah, he's bringing it down. He's the chaos chaos attack. That's it. Yeah, exactly. That Twitter chaos. But turning now to Peter, Thiel since we talked about him as well on Peter, Thiel leaving Facebook, I did find this really great comment from Alvin Albright, okay? I wonder this is a quote. I wonder how much of their aggressive there being Facebook. I wonder how much of their aggressive tone. Deaf 0 sum approach came from Peter. It's time for a softer more empathetic, Facebook time for Zuck to also step aside. And focus on meta give Cheryl a chance at CEO for the business. That was my prediction. I I wouldn't actually I wouldn't be surprised by this. I don't know if she's gonna bring him more softer, empathetic Facebook, but I actually, this wouldn't surprise me. But Alvin, do you think Cheryl wants it? Yes. Okay. Yeah, I don't know. Alvin no idea. I I don't know how to tell you this. Facebook is meta. Mm-hmm, there's the same. They're the same company. So, Zuck can't step aside from Facebook and focus on meta. Meta. Oh no. I'm with Alvin. I think I predicted that Zach was gonna be out of this game relatively soon. I mean, also In fairness to my, my quote pulling this one. Got two thumbs up and forth. Okay, so I'm wrong. No, I really like On Stuart Kirk, we covered at length yesterday. Who's the HSBC head of responsible investment? The head of responsible Investment. You like that? Yeah, responsible. And that talking about Climate change, not being a problem for investing. Here are some comments that I found about him in this story in the New York Post. Chris Marengo said, this is all part of the wef. The world economic forum's plan for Global governance. All of those multinational corporations with these ESG, staffs and programs are merely wasting their time and money. It's the latest form of Communism. Okay, wait, what does he does? He must at least explain that because I like I feel like it's a start of a thought. No really matters. Must be some bullet points about what they're talking about, right? No, no 24. Thumbs up on that. And Chris, by the way, you know, that Stuart Kirk was ESG staff, he is the ESG staff, you're talking about so you're agreeing with his comments. And what not the fact that he's ESG spent all his life at multinational corporations that that's where he is learned? Yeah the wesf multinationals. All. So the last two comments I'm gonna allow it, I'm gonna allow extra time for Mr. Scotty Forget from Gizmodo. YC Plum said, if he was the head of any department or fund with the mission of Simply making money, this would not be an issue. However, he is hsbc's global head of responsible Investments that says a lot about HSBC. It is analogous to putting Saddam Hussein on the un's committee on human rights. Okay, I don't know if I'd go that far. Why see sort of a New Yorker joke. And this one, this last one is for you and thank you along. C. SX 3217. Yeah, just a reminder about why 2K it only turned out to not be a big deal because we programmers and other tech. People worked hard for years to make sure it would turn out to not be a big. Thank you. They, here's what they did. We're just doesn't get they identified a potential risk. They, they invested in in mitigating the risk and then they, they did their jobs and then the risk was, right? Yeah. And then part about how that works. We laugh at all that effort because actually nothing happened but yet we still laugh at that. Okay? Yeah. We think it's funny that people work their butts off to make sure nothing happened and then nothing. If anything it's the prime example of why he should he should probably should be far. He doesn't take his job very seriously. Emma. You have more comments. I think. Don't you? I do. Um but this time the comments are in response to oh God I love our fans better you or me or positive like these are, these are fans. These are the people who listen to us who like our part of our, or they watch, or they watch him on tiktok. I mean, for any of our listeners are on tiktok Emma does wonderful. What do you do over there? A lot of cartwheels. What's going on tiktok? Hey girl, So, I went through our various channels so like tiktok YouTube, Twitter and we are pretty active in those spaces and we get some comments sometimes from all of you, lovely and not so lovely people. Come on fan. Crowley mean, I want to come on. So no, don't say something mean just let's start off with tiktok. So I posted a tick tock of a show clip of us. Talking about Walmart's recent involvement in a issue with some Juneteenth flavored ice cream. Yeah. Can you pause on that, again? June 18th, it doesn't it sound like my one of my show openings? Doesn't it sound that ridiculous? Yeah, but that is truly what they, that's what they did. And we were obviously ripping them a new one for it in this clip and we had a couple of comments. People seemed interested. So we had caldinos Italian Market set, Rocky, Road flavor question, mark. Question mark, question was, I said that? That's what date did, you know what? No, I love Italian Markets. I do all sizes and kinds of salami. I do, I really love them. Yeah. And keep in mind that the caption to this tiktok read, what ice cream flavor do you think symbolizes emancipation From Slavery? Walmart says, red velvet cheesecake, we say knock it off with that shit and so it was in the caption and so they come on well and beep. Boop was given the easy out by a person called know who said, red velvet cheesecake. Thank, you know, for coming in with their answer to tiktok username is no and no. Yeah, good. Yeah, I know. Good for you. Then we have Percival, who came in with what it? Not be chocolate Vanilla swirl. And he got a couple of likes on his leg. Kind of like a good Stevie Wonder. Like Ebony and Ivory kind of thing. Is that what they're saying? Yeah, something like that. Yeah, but unless racist sounding we call you the way he said. Yeah, I did which is, you know, yeah, that's about right. Racism on racism on racism. Great. Okay, moving on tiktok. Number two, I did a tiktok and I was covering corporations who offered to cover travel costs for employee abortions, who have actually donated to anti-abortion politicians? Yeah, very performative. Got it. We have soray saying if they are really willing to pay for travel or whatever, it's only because they'd rather pay for that, then pay for maternity leave. Oh that's right. Emma levels in a cynicism. There it is cheaper. It is cheaper. I mean it's cynicism but is it not correct? Well, I don't know what what do you think the insurance policy is on like giving your employee money to like basically cross a war torn state to go get an abortion? Like, I don't know. I just seems like fraught with disaster. I mean these poor women to be targeting or torn States. I'm like they're not you crazy? Well, I'm sorry. But if you're restricting, women's human rights at your basically, you're basically adjacent to Ukraine, right? I mean, I'm gonna put, I don't think they're gonna put border cops at the edge of Texas, who knows? And asked every woman going, I don't know anymore. No, no, that's true. You all right? And then so things start off well and then we get to our guy Saxon Saxon comments, there should be less podcasts. And I agree. Actually, I agree with that. And I will say this no non-self, a facily. We actually put a lot more effort into our podcast than most of the universe of podcast makers who who basically just call maybe a friend and have a long 40 minute boring conversation. So Not like this. No, like a different know because we don't like each other. But then we have another user come in and say something that you're going to agree with even more Ali does the splits responds there should be less men with pot. I agree with that too. Right, for me to say it, but I'm with. Ali does the split only does that fairness to us though if the men left this podcast, it would currently be Emma by herself. So, what's wrong with that vacation? Yeah, so that's about to say that sounds like an ideal situation. I think, then we should do that. Let's see. If we get more listeners, the three we have. And then after Ally does the splits comes in, with that specification, with which, I agree, Saxon comes in again, with there should be less podcasts needed to do. Need to sit down. They're both, right? They can just repeat the first thought. Yep. That's clever. Okay. Like this this is and then we have like a columns. Yeah. Who says And they'll take the hit and paying the probably less than 1000 employees per year while maintaining lack of access to the general population. All right. I know that means this is like this is it sounds like reason debate. I like it. Yeah, I like it. Someone who believes in our stakeholders. Pro stakeholder perspective. Yeah. And then we have a momento Moray who gave us a little bit of love. I really appreciated this. They said this is super informative. It's easy to see the feel good headlines and not do the extra research to see the BS behind it. Thanks. Hey this listen to the good game. Alright, is that like your mom Emma? If only yeah, I wish it was my mom. Do we know that person? Because not sound. No, actual fans on her? Don't know, actually like so yeah. Wow, she gets actual track tiktok unless unless there's a couple of, I've never seen it. There are a couple of others, but my last one that I'll do on this one is from that tree hugging Virgo, who says creating an issue and selling you the solution or giving it to make them? Look good. Is the American way burn it all down. Oh, darn it all. Literally burn it all down. I don't know, I chose not to think about that part, too hard. You should invest in. Lighter fluid. I don't even know. I'm gonna be I'm gonna be honest. I mixed feelings. When someone calls himself a tree hugging Virgo says burn it all done. It's true. It's a bit of an oxymoron. Is it not? Yeah. So something going on there, like, like, we're already burning it down in the west with the droughts. Anything else, Emma. What else you got? Yeah, one more. So our biggest fan. This is our biggest fan right truly. So Here is the last one. We're gonna switch over to YouTube. Yes. Now, we had a video on YouTube, yesterday of us, discussing the Stuart Kirk bulshit, and we had a man named Peter Soraya, I believe, sorry if I butchered that. Who commented, this lovely thing. These are fans. His take is one of the rare presentations on ESG. That is honest. His analysis parentheses like many others who actually do research being the hyperbolic statements. Show that the risk is basically no risk at all, you should not have skipped the parts where he backs his points on the bright side. He got one more view for you and the time I spent listening to you made me stupider. So you diminished an opponent in some small way that that's our fans people. Yeah. Those are the people who come back again and again to hear such great Insight stupider. One second, Matthew did you mislead us? Did he actually did he actually back his points? Did he, or what, did you leave out of the clip test yesterday? I mean, I think what I think, actually, what he means is behind him like to his back was a slideshow with his points. Oh, that all said. Climate change is not a big deal and then and then required you to look at those points. Of the stock market going up forever. And why would that ever change? I did like his point. Yeah. Where he said, because the stock market has gone up before, it'll obviously keep going up. It'll always like that point just stands to although you left out what my favorite comment on that video. I mean, do we have our other fan comment from that video? Is my modem Cella. Who says, I don't get the clock. There we go. Our timer. Our timer. I don't really get it either. Frankly, I don't like it to get you to shut up. That's the point of, can you. And are you gonna do you have more? Nope. That's can you at least read the one from Dollar in 99 on from Instagram? Yes there. Oh yeah. Okay, this one, I like this one. We posted a clip about the SEC fighting with Elon over the whole Twitter, boxel and dolla dolla. $99 underscore says you're not funny on that, I like that. And yet that is cardi, thanks to our production team here, which is Emma. That's all thanks to our the, the other people here, which is everyone, you see re doesn't exist anymore. I think she's in Rome. Eating spaghetti. We'll be back tomorrow for a longer show. Goodbye.