Business Pants – 2022-07-18

Hello. What was that? That's weird. Live hey from oh from your left eye socket, we finally finally broadcasting from your left eye socket. We've been in contractual talks for a long time. Oh, it's a magical Monday night and socket. Join us always by Emma, A-Rod lurking and Matt hrod moscati, I'm Rod Peak. Can anyone anyone want to help me out with that? Can you decipher that? A-Rod H ride? Aaron Rodriguez. Hrod Aaron Rodgers, no hot rod. Sorry Alex Rodriguez. Hot rod would be a rod. And then Rod p is going to be. It's not a porn star. Okay, here's the moving on. Here's the actual, I really want to do this. I really want to do this. Oh, I love this. I like Matt dancer first. A rod should be Aaron Rodriguez, the Know, that's Aaron Hernandez, the convicted. Yeah, I just actually is a Alex Rodriguez former baseball player Honor's. Actually Matt's former boss? CEO of a four of S&P 500 company Henry Rodriguez. First of all, he's Henry Fernandez not yeah, I got some on the rod thing that I forgot, you're right, it's Henry Fernandez. So I've already screwed it up in like, four different ways and Rod P was Rowdy Roddy Piper for my childhood. All right, so, I screwed that up completely, today's butter shaped bag of margin stuff nuggets called July 18th 2022, 60 update sleepy academic papers and Ms. Trendy dumpster dive. Hey oh, let's move on. Nobody's gonna like this being racist. Let's get to the updates. I, I'm gonna apologize. Look, we were a very delicate seesaw here between providing entertainment and actual information. I mean, I just figure, we went to do the information, we have at least a couple of Junior analysts glass Lewis, who are you don't know how to work the internet and then they rely on us to understand things. Hey, I'm afraid it's actually less glass Lewis and I think that we feed directly into Goldman Sachs now. All right. So for all you out there who don't understand the SEC filings, we're here to help you. We alluded to a lot last week so let's fire up the business pants merger 8,000 translator and talk about all the latest SEC Twitter filings. And I know this is probably depressing a lot of you including umap. But you know, if it really, if you really hating this, go ahead right now and Skip to our next episode. Where we cover, serious stuff, like, being addicted to Skittles in the craft non-alcoholic, Flex sober, Beer Market. Yeah, we are talking about that tomorrow. So go ahead and skip the episode. Yeah, we are if you want it. All right, ready? Chronological order. Starting last Monday. Let's start with this one, Matt. Because this sort of this sort of dovetails to the new product, you're working on board saber metrics here from free flow. So let's talk about it. Here's like filing. In connection with, depending acquisition of Twitter. They announced that they announced the lawsuit that they announced it, Brett Taylor, the chair of Twitter. and now it's that Twitter had followed a lawsuit against Elon Musk and then it goes on to say that Prague the CEO and the CFO Ned Segal each subsequently retweeted the tailor post, they called the Taylor post. Why is this important? Because I'm asking, I'm asking you two, I'm up, but I'm asking her board, saber Matrix, genius mattress, does this give us insight into the current power structure at Twitter? Because this first came from the chair Brett Taylor. Then it go, then it's the CEO and then it's the CFO. And I'm asking because have we been underestimating, the power of independent board chairs? And what does our board saber metrics have to say about this? Anything like seriously, I'm not seriously. I do. We do not have a retweet metric. We do not have no retweet or focusing on the wrong thing. That's what I really want. I really want you to focus on that. This comes from the chair. Brett Taylor, is Brett, Taylor really, in charge? We don't hear a lot from Prague. Is it really the independent chair who's in charge? Well, not look. I but I think that, I think they Like this is a merger and acquisition, that's not actually going to be driven by the CEO. It's driven by the board and the chair of the board speaks for the board and this is actually very calculated. Do we, I think the estimate here, a lot of Brett Taylor, here's what I think. We argued about this for a while before we found a data error. I think. Yeah, it's true, are there? So you all, you did error that, that we, what we are argued that Brett Taylor about the level of influence. Brett Taylor has he very clearly is the spokesperson on this issue because you're not exactly hearing people. Like language, manipulative, language, faith faily. We don't hear any statements at a fake Lee who's also on the board, parag is sort of like the internal spokesperson and Brett is acting very much as the external. Spokesperson now that does not mean. That Brett Taylor is more influential than Prague agrawal is necessarily. However, in this case, we know product to be closely puppet and a sacrificial goat. Stay tuned, because we're still running those numbers. And when we have them, I would do actually want to talk about how we see that the influence at the Twitter board to see who we can go deep, all right? Moving on, the next filing is actually Prague the CEOs, email to employees. It's basically pretty good. I mean, I'm gonna say the dude has had a right at least whoever's, writing for him. They hit lines like this. But with each challenge, we have persevered through our purpose, our focus on our customers and above all else. Our resilience He said, we plan to hold the buyer fully, accountable, to fulfill his contractual obligations. Notice unlike us, he refuses to say the word, Elon or mosque. I like that. It's like Voldemort. Very clever, totally. He also I want to point out this line to Uma. He says our resilience comic collectively comma will carry us forward. He understands common usage. This is that right? Yeah well I don't know if he knows like Prague more. I would necessarily equate that to knowing how to write because shouldn't have four properly used commas. Even if they are properly, I think Yes actually, it's debatable in my opinion. I like, you know, I I disagree. I like the multi comedy use. I like this. I love it, frankly. Yeah, in Oxford comma until I die. All right, here we go. Forever. Here's where he fails. He starts out the letter with this team comma that I asked either one of you, when did it become okay to collectively, call your entire Workforce team. I hate this. What is this team? I I do agree with this point. I think the point that you're trying to make is like team Are we a team or do we just do this for money and to live and I think it's a good distinction to make. Okay, if I was articulate, not feeble-minded, I might give you three or four reasons why hate team, but all I can say, is this. Stop it with this team shit. Is that articulate enough for you? Yeah, that was fun. Okay, I think you're, I think you're overplaying because I waiting for the slack message that says, hey team, can we work on this? Well, you did do that to us recently, didn't you didn't you team us kind of tongue and cheekily a few weeks ago during a meeting. Did I did you teamed up for like, you band of mongrels or something more interesting? You know, that's what you get into. Like, like when Facebook employees are called Facebook orders, or whatever, or Twitter employees, are called twats or whatever. They call it, whatever. They'll actually, we get to that, that's where you get those stupid names. Stay tuned. Yeah, thank you. We get to this. Okay, he goes on to say the work, all of us do as individuals and as hashtag one team impact people's lives and comes with deep responsibility. Meaning I get that using a hashtag at a company that relies on hashtags, might feel like something that is. Okay. But it's not. And which is it. Are you team or one team? This is where he throws me. I don't. I mean, he this educated are you team or one? He wouldn't address, but it does make me think back to like, the, the biannual. And by that, I mean, within the year reorg and rebrands in which you have like five new pillars of virtue that you're supposed to follow now, you're one team. Now, you're, you're the team next month. You're super team. Three months from now. It does, it does it actually gave me shivers well on that? No, actually d one, when we were at msci, they did go through a One msci, internal rebranding at one point. We had that. Yeah, we did. We had that? Yes, all one word, I think, one msci, one msci, one word. Yeah. Which yeah. What is msci with all this? Is that not one entity just msci. Then there is one. Can, you know, somewhere there's one consultant who's like laughing over a cup of coffee? Every morning being like, there's another company who wants to like, find their soul and we're just gonna put the word on it and then we're done, it's like, pay me a million bucks, it's worked out great for, where's the bipolar msci? That's I would assign up for that. I would have been more. Wait, what? You? Just triggering you just triggering him. Well, I love it. All right, the next filing in the Twitter musk war. Is this one. This is a communication simply called Twitter acquisition tweep FAQ Okay, yeah, thank you. Four words here. One is an acronym and, and one is one. I just simply don't understand. See, this is what's wrong with the world? I got somebody. Help me somebody. Help me. What the hell is a tweet? Does anyone actually know, I don't know what a twin is, and how was it before? What is it? Anyone I don't know. That's, that's someone who follows you on Twitter, isn't it? No, but this is what It really is right? Yeah, tweet. Look, when you beep me for saying, like, what is it, kind of an ugly? You know word, that's I'm not really making things up because the stupid words that they actually use like doesn't tweet sound. Sort of like a gross part of your body? Yes, don't touch my body. It's like, oh they all sound that way. Yeah. All right, let's get this. Oh, I think you needed yourself. Emma? Yeah, be yourself how dare you. Let's go selected highlights from these FAQs from this SEC filing. What does Mr? Musk's notice mean is the deal now officially off Twitter responds. No Mr. Musk's purported. Termination is invalid and wrongful. I like that double Hammer there. Well, and wrongful way. Okay, am I just am I the last one to come to the realization? That tweet is a play on peep like your peeps, but your tweeps. Is that what it is? Okay, sure. Maybe I thought it was. I thought it was a play on Easter candy. I like your first analysis of of weakness of Emma thought that was. I know they're both pretty out there for me. Maybe go with that one. Um, I I'm actually upset that they brought back Mr. Musk. Yeah, instead of this is a different filing that first one was a letter that was from Prague. This is a this is probably like. Yeah that's the internal letter and this is the external internal FAQ. I don't know what's the difference. They say, please understand that the Twitter board and executive management team are continuing to actively manage the process related to the acquisition. I mean, you know, this sentence makes me feel like they, they say this because there was some doubt, right? That know what he was, that no one's in charge of Twitter was doing right? Well, I don't think I've seen this before. It's weird that they're like, reassuring everyone, that there are people who are doing stuff, still everyone calm down. We're still doing a thing. Well, with this thing, it is one of the reasons why this is so fascinating, I think it's a people. Maybe rightfully assumed that Twitter still is kind of Jack dorsey's. Shadow. I don't know. Not wrong, that's a name. I haven't heard anywhere in any filing in any way. True. And that's that, that would be. He's the one person that would be fascinating to hear, from considering. I'm pretty sure he's the one who put musk on this, right? Like the two of them were doing this, that's what, in, which case, where's Jack. Now, after throwing his board under the bus and telling saying that they, they were the problem when he was working there. Now all the sudden Jack Dorsey is like dead, silent on the issue of throwing your insane autocratic friend, at your, your company founded and blowing it up. I actually know where. Now, where are you jack? He's currently walking to Africa via London and he got stuck in France and he's actually currently fighting the, the fires the wildfires and friends. Oh, Delta flight because I canceled next FAQ, what is Mr? Musk. Gold Twitter enters. We are not into position to speculate about Mr. Musk's objectives. Yeah, take that. We don't know. Fuck face. Also, I like that, there's a movie villain field to this answers. All, it's very Batman. What is the Joker's goal? We are not in a position to speculate about the Joker's objectives. Right, the Joker. Okay, the next one. What is our desired outcome? The Twitter board is committed to closing the merger right on the price agreed to with Musk. I guess go ahead. Yeah, they're using the word merger. I'm confused by that. Is it a merger or is it just purchase? You know, I I think it is a the way that the matte you clearly want to answer this. So here to go for it. I don't care. Um, technically you do? I made a breath you. Inhale, you do care. Yeah, I inhaled like, I have something to say but I don't care whether I say it. I'm technically musk set up a company. That company is merging with Twitter and as natural transition is a merger of the two companies, but he will control. The final company, right? So it's like okay you and I know acquisition can I leave her alone? She said she regrets asking the next I break you how do we plan to retain Talent? and they said, Our attrition is slightly higher than best practice for normal macroeconomic times. But remains in line with current industry level Trends, we will continue to monitor it to ensure that we can quickly identify any areas of concern and help mitigate where possible. First of all, that's an A+ for fancy corporate writing, right? That's like early, Oscar nomination for corporate writing, our attrition is slightly higher than best practice for normal macroeconomic times. And yeah, it's beautiful. They're true. And by the way, when they say continue to monitor means, you're probably gonna get fired. That's all I'm gonna say. It does okay, as we continue to do our job. Moving on the next FAQ is, is there a possibility for layoffs now or post closed? Here's another award winning answer. Basically, they said in four different ways that yes you're probably gonna get fired. The first one they said is we're not looking at company-wide layoffs, that means obviously they are looking at layoffs and I know it's a 22 here for Twitter but we're not looking at layoffs is not the same thing as we will. Not be laying anybody off. Oh, as I just got laid off, Yeah. And we just laid them off. That's why she's not. The next, the next thing they say is however, teams from across the company are reprioritizing and making changes to ensure we are operating responsibly an officially in the current operating environment. There's four red flags here, Matt. However, the term, however means you're gonna get laid off. Re-prioritizing me. You're gonna get laid off. Operating responsibly and efficiently means. You're gonna get laid off and current operating. Environment means you're getting laid off. That's all. I don't like how many times they said operating. Whenever you mention operating means you're gonna get laid off, that's what I learned. And then finally, they say, we may continue to see restructuring and or changes as we continue to align with our revised business. Too many continues, whose lighting this, there it is restructuring and or changes. Yep. You are definitely getting fired. You tweepy losers, right? I mean, they're not tweets that absolutely getting fired. Anytime you see the word restructuring your own? When you say Tweety it does sound pretty pretty much like a loser. Okay, so let's go over the next filing. The next communication include a link to the actual court case which Matt you alluded to last week. There's a lot to cover here. But I will say this, it's actually quite a well-constructed narrative. It's like really good. It's persuasive and oddly compelling. It's clearly going to be a Hulu show soon. I mean, it's like it's it's perfectly set up TV. No, really, I don't know if you looked at Emma, but it is just sort of like oddly readable. But here's my main takeaway, here's how I'm gonna sum it up because I just think this is just so nice. It just like this. They say musk's exit strategy is a model of hypocrisy. And here's the beautiful summation and I remind everyone who's listening. They say, one of the chief reasons, musk cited in March to want to buy Twitter was to get rid of the crypto, spam. He viewed as a major blight on the user experience. He said he wanted to take the private company because you purging spam would otherwise be commercially. Intractable in Practical, he said a tweet in April said, if our Twitter bid succeeds, we will defeat the spam Bots or die trying and then the press release. He said he would prioritize defeating the spam Bots and authenticating all humans. But then suddenly, when he decided, he didn't want to buy the company anymore, he decided that the spam was a serious problem that he couldn't buy the company. I despite like that was the reason why he wanted to take the company private. It was to eradicate the spam. So it's I love that they remind us of this that he just completely flip-flopped on all that. It's just I don't know. It's a brilliant. Did you read the musk lawyer response to the Twitter loss? Remind us remind us. Um in which they say basically musk at this point is just it's a stall, it's a stalling. The goal here is to drag this out as long as possible because the markets can come back and then you can basically renegotiate a price and Twitter can't be in limbo for that long. So that's what Twitter's calling is there. Quick trial, quick, 42 trial September, right? And musk's lawyers response. Are we asked for all this data? You you drag your feet for two months and now all the sudden you want to expedited trial like that's that's ridiculous and then just dove into the data that they didn't get the data and the spam Bots are a problem and they know the spam bought our problem from the data that they got. Its really I don't see. Yeah. How on Earth this goes? Well it mean, well first of all they gave them actually so we're never even heard before. It's beyond terabytes, they give him like 49. It was called Like Tebow's or something? It was an enormous amount of data, but second of all, just to remind you He started this off. Knowing about the bot problem. The spam problem that that's he was the savior of this problem. So I don't, this is why I can't connect. This doesn't make sense, I just what I want. Actually the only way that this ends in an interesting way to me is if Alex Spiro. Elon musk's lawyer has to fist fight to Twitter lawyer team. I don't parking lot and the winner gets Twitter. I just, that's what I want to say. I want to see that. Finally, on this last filing Twitter published a preliminary proxy statement for special meeting of stockholders to vote on the merger agreement. Blah, blah blah, you know, this is like, 250 pages. So if you really want to have a some insight information call me directly at 1, 800 free flow and we'll talk about it. That's not our phone number, don't remember. And but here's all you really need to know Emma. If the merger is completed, we will have no public stockholders and there will be no public participation in any future meetings of our stockholders. Which, which means will we all stop talking about Twitter? Like I, this is something that we haven't really covered here. What happens when one of our favorite public companies goes private? Are they dead to us? now we cover private companies, we do name one Well, we talked, like I was just looking up the other day. No, Mars Corporation who makes never. Yeah. And not real Skittle. Real from the news. Can't even eat it. Don't listen to Matt. All right, that's all I got. Here's I have one. I'm I'm really sorry if I'm yeah, prolonging this but I don't we be weakness lurking. Go ahead for sure with my word. Which is that? So I did I saw this article earlier where Twitter is still encouraging shareholders to vote. Yes. Oh yeah, in their proxy. Yeah and my question that makes sense to me, like yeah, they entered into this murders so they could see it happen and so they could fix a bunch of problems that they know that will be off of their plate if this merger goes through. But is that not like a governance problem in some way? Like, would that not affect for example, their ESG score? Hypothetically, if they are proposing that this man who was clearly not committed to the company, is going to buy it and they're encouraging that like is that bad, but it won't be, I don't know. It won't be a yeah, it won't be a publicly traded company at that point, I guess, right? I mean it drops off, I think this public market. Look, it depends on all of this depends on whether you believe in the myth of what Twitter is like, is it a powerful Town Square for the internet where people can gather and whatever? And it should be moderated in a certain way? Or is it really just like 4% of the market for social media? And if it were to fold into a Oblivion five journalists would care but nobody else would write like in which case the governance issue doesn't really exist because when Elon Musk takes it, what's likely to happen is everyone's going to leave it, right? Like all the employees will leave it. The the none of the executives are going to stay, they're going to cash their options out as part of the merger and they're going to go away. So you won't even have fundamentally Twitter as a like whatever Twitter was, that's not the thing that you would be looking at and rating and understanding. As an analyst anyway. So forget governance issues. I mean, like, it's gonna have all sorts you either think it matters or it doesn't, and if it doesn't matter, you're just kind of like, this is fun, what? I don't care. Whatever you you've hinted rightly at the problem in general these days, which is that, which is why we talk a lot about stakeholder capitalism is because really the, the only stakeholder That companies mostly still care about are the shareholders. They just want to help the shareholders get richer and you're right they don't care about any of the stakeholders. I mean this is a disaster for the employees at Twitter, absolute disaster and yet it doesn't even need to figure into their logic because it's just it hasn't been codified. At this point that you have to care about your stakeholders, you just have to care about your shareholders. So it's, you're right, though, it's a disaster. Okay. Yes, just disaster. All right, I hate it. I click on about Twitter and yeah, let's go come here about. Yeah, it is actually it is, it is, it is, I cheered. The Nerds all the time. If you were wondering, geez, this anti-wolf movement feels like really bad for liberals or ESG or whatever. You're totally wrong. The nerd alert is going to prove it. Here's the paper. Yeah, the anti anti woke paper, it's called gas guns and government financial costs of anti-esg policies. Whoa, it's written by Daniel Garrett of Wharton which as we all know is a Bastion of liberal, thought must be progressiveness and Ivan Ivanov. Yes. The person, um, of the Federal Reserve which we all know as a super liberal buyer. Everybody thinks the fed and they think coddling, you know, babies in little weaknesses or countries. That's what they think. Right here, are your takeaways from the paper. The authors estimate that Texas's ban on Banks and asset managers that have ESG policies that they say discriminates against fossil fuels. That ban that law will cost Texas between 300 and 530 million dollars in interest costs on bonds, right? Just by Banning them because they might not have enough Underwriters by law. When they're done, they actually will be forced to negotiate fees instead of minimizing them in an auction and they have to pass those costs down to taxpayers know what you're talking about. But it sounds expensive to be anti-walk in the band, the biggest Capital Market players, On the planet. And now they do not have access to cheap Capital, so they have to pay more to borrow money. Well, You're hit on the political thing that scares me the most about this, like anti-walk anti ESG and all these movements in general, is that the sum result typically is to make your constituents the people in these areas more and more depressed than poorer and angry, right? Like you. And well, so it's just like it's like creating this Future know anything. Yeah, if if any of the electorate is educated, what they'll know is Texas. Cost itself a half a billion dollars because it banned the people who gave it money. I think we're saying is that this should be required listening in Texas. I think that's what you're saying. Business pants should be required. Listen, not only that, but that's the whole paper. There's literally nothing else in the paper that an academic study. What is I don't understand that academic? Well, the process by, which they get to that estimate, and how they like actually do, the methodology is very complicated to account. A, lot of fact I don't know, they're talking about it must be complicated. But it's all it says is can I mean, this is my reading of it. Congratulations on your new law that that that that protects whatever it is. You think need to protected from the Barbarian liberals, who were? I don't know doing a thing. Congratulations on stopping them. However, You can't just write a law without consequences, the consequences, pay the financial system. Another half a billion dollars in fees and interests because you you ban them. So you basically it would be like if you said you know what, I am not allowed to go to any major car manufacturers at all because I find them all to be way too yellow. Like they make too many yellow cards. They discriminate against green cars. I'm not going to any of them and then you're stuck going to a guy named Gus under a bridge to buy a car now is the interest rate you're going to get from Gus under the bridge higher or lower from the then, the interest rate you're going to get from a massive manufacturer who has five million cars to sell, are you saying that the G and ESG stands for Gus? That's what we've been waiting for all the time. That's what we found out. That was the that's what this law, let us know. And that is My nerd alert. I like that woke calls you a lot like money, of course, kind of knew that deep down. Well, they proved it, they did prove it, Emma. He got your trendy dumpster dive for Monday, July 18th, come on. So I'm Just run through the top things from. Today. Click and then one thing that is not on Google. And that really, really should be wait. She allowed her. She allowed to add something here, Mac. Can we confirm? Absolutely. She can do whatever she wants. Yes, Emma, you can add something, you have a full approval. Okay. From our very own Prague. Yes. I am allowed at, okay. Um number one. Yes Drew Barrymore with 50,000 plus searches. The one of the headlines is Drew Barrymore fans applaud star for healing her inner child in viral clip, which is just her being happy in the rain. That's it. That's the number that, that's what. That's what this country cares about. That's always being happy in the rain. That could help in Europe with all the wildfires. I see the connection. I see the connection. Totally, um, you know, Drew Barry, you know, Matt to your comment, just wait for number two. Number two is the Valdez shooting with 50,000 plus searches. The footage from the school has been released and basically people are giving their takeaways and example was, these are the four takeaways from the Uvalde shooting investigation report some very depressing news. Yeah. Okay. That's I don't I don't want, I don't it also it's between things. I don't want to read and things. I don't want to we went from happy to sad. What's next? Number three, we have Emilia Clarke with 50,000 plus surgeons, Emilia, Clarke surprise she can speak after past aneurysm says, part of her brain is missing. I don't know what this means is happy. So who's okay Emilia Clarke was from Game of Thrones never saw? Yeah. Game of Thrones. Number four, Devon Allen with 20,000 K plus searches or sorry 20,000k redundant Emilia Clarke's sorry. Nope. Devin Allen focuses on Eagles after World track. Disqualification goal is to help Filly win. What is what is wrong? What is happening? What people paying attention to? I don't understand. And then next the 2022, MLB draft with 20,000 searches, the biggest winners and losers, blah blah blah. And then the most I would argue that the only one that caught my eye was the sixth one, which is Sesame Place, which is like the Sesame Street themed amusement park. There is one headline that where is in the Bronx? Where is it? I, I honestly don't know where it is, but Sesame Place, racism accusation accusation. As black mother says Rosie, the character ignored her kids. I don't know, I'm out. And that's story. Yeah, and then finally, the thing that is not here that 100% should be here because if it was then I would be able to do some amazingly put together bit where pop culture ties in with the financial world. Yes but no, it wasn't there. So I couldn't do that. And the headline is Kylie Jenner has been called a full-time climate Criminal. After her private jet was exposed for taking a three-minute flight. It was really a three minute. Three minute is it was a 40-minute drive? Yep. So it's just like a 40 minute drive. Is that a real? This is a real thing. So just like it shot up. And then basically they put it in neutral and just Coast it down for a landing essentially. Yeah, it was from Camarillo, California. To Vinoy, California, three minutes. And is this the kid who follows like zuck's Jets and no similar, though, this is celebrity. Okay. I do like the overall, I support all this. I don't know where you going with all this, but I support it well, our very own yes. Sorry the data Queen yes billed, a model for a client of ours and which Ari unbeknownst to the masses was actually an aviation engineer. She was an engineer. I believe in airplanes, right? Every time I see her talk to her. I want to fly far away. So I believe She built. A fully like every airplane in the world the the links she went to to get this done a carbon estimation model for how much carbon per passenger gets spewed for every plane. I absolutely need what we need to do is get a photo of whatever, all the plane stats and have a run through that model and she can tell us if Kylie Jenner was the only person on that plane other than the pilots, how much carbon she costs? Relative to if she had just driven a car we can do that. Estimation I can tell you right now that her plane is a 2019 Bombardier, BD, 700 easy right there. That means nothing to me but it will mean something to her. Okay. Thank you for my dumpster dive. How come none of those things were free float. How come we're not trending. That was Damian Ross and Emma looking I am Emma Scotty. We had some beeps before we go. Do we need to discuss the beets before we go? I don't, I mostly just want to hear Emma talked about how terrible humans we are, but you can hear that on the next show, where we're going to be terrible, humans. Come back tomorrow and listen to more, goodbye.