Transcript
Hello. Wait, what? Hello. Did you kill the music? How dare you know I killed itself. Hello. Live like you hate this music that it went away should be a good thing for you but it's the last time I have to hear it this week so I'm kind of excited. Live from room. 916 is that right? Yeah, at the North substation, complex and West Somalia. It's a smells like Panic AF edition of business fans. Friday featuring are the data Queen Matt, the BS correspondent and me your doctor's next patient. In this week's episode, blowhards beavers and billionaires. That is all the bees, a lot of bees. oh, sounds dirty. I'm gonna I'm gonna cover story of the week. This is how we handle Friday. This is all the all the of the weeks I handled story of the week are the data. Queen handles, what do you do? Good lease of the week, really? Not only that she present the good storage of the week map, but she Dodges our bullets of like telling her that her stories don't make us feel good. Like those are her two jobs and Blast is gonna be even better. Okay. She's starting to get into a Groove. That's what I'm sending and Matt with ass Holiness of the week, but that's Like how easy that is. I mean that's like every company and every CEO, there's no offense companies but come on it's really not that hard actually what asshole Behavior, one of the easiest things I've ever been asked to do is ask hole of the week weekend and week out. And officially this show is part of the UK's mourning period. We're not morning, but we're the mourning period. Right? Aren't we? Is that official that happened? Well, I mean, we used to be part of the The Empire. So, I'm just bike racks. This morning were closed, I haven't officially declare, the business pants is mourning. The Queen, We Are official as a as a show. As a podcast, we are mourning the queen. I can officially say the opposite is true. You don't do the show. Come on. Do we have like Show music. Do we have, like, Oh I just I just yeah you did it. You did it over mine and you want to do this one to yours. Okay. Let's do it. Yeah like breaking news. Come on, start the week. Come on, thank you. All right, let's go. Let's do it. Get away the end that I I can almost guarantee that the first order the week is the story of the week. Actually, I don't even know because you guys get to vote but I think I will probably include this. So I'll go quickly I'm calling this. The first story that we could stakeholder capitalism Victory. It's a big win Patagonia founder. Is giving away his billion dollar company in, ensuring that all profits, go towards fighting climate change. That's it. I'm not gonna say anything more. Do we have to stop? Do you have to do the rest of the stories? What are the other options? Let's go quickly. And then I have a stakeholder capitalism. Fail, the question mark, but from the headlines this morning, it looks like a fail. Yeah, I think this is yesterday the NBA National Basketball Association suspended. One of its owners at Phoenix Suns owner Robert Sarver for a year, find him 10 million dollars over workplace harassment and being a racist a hole. Okay, was that what they wrote? Yes, but here, the headlines coming in Lebron who LeBron James, you know, the the most popular figure in basketball currently says this isn't right. Expressing disappointment about the punishment. Other headlines this isn't enough or yeah. Yes. Okay. Other headlines coming in upset that Adam Silver gave a lifetime ban to former Clippers owner, Donald Sterling but not giving one to the Suns owner and then how about this? From the from the team itself, the Phoenix Suns. Vice chairman calls for server to sell his stake. Oh, which I, which I I'm I'm half with, I want to get the halfway out but why does he get the is like, the Donald Sterling problem? He gets to leave with a bag full of a billion dollar coins. So that's the point. Do you see what just happened there? Tell me. So that was probably part of the negotiation, wasn't it? It's not like I think this is a slow roll of an event. Exactly, you go. We're gonna find you but just so you know, you really are gonna be a lot of pressure for you to sell your stake and we think you should the public shame is going to be so great. That, you know, you know, you're going to be done, right? And then he sells the steak and then it looks like, you know, we find him, we didn't have to ban him, you know, like that, he got pushed out. So that's the second story that we can call that a stakeholder capitalism fail because it just failing. It feels a bit faily. Number three, the transition over from the summer travel. Chaos headlines officially began the transition to the winter energy. Chaos headline. Here we go. I got called this. You said it was coming did. And I like all three of these Paris plans to turn off, Eiffel, Towers light early to say electricity. That's a good one, right? Like what time do you think? 10. Oh really, that feels really late because you're you're young children. Yeah. Turn it off. Turn it off. Now, that's early. I looked at it. It's fine. I don't know if you've been to Paris recently but there the lights are very bombastic and fun and romantic and silly. And I like it only starts going at 10 like yeah, I like that. So I'm feeling sad about this. I have number two, desire for that. You don't care. Turn them off. Louis Vuitton reduces thermostat in light, use in shops, to save point. Oh, four, Um, and they're turning that they're turning off that light in the, in the back corner, next to the coat rack. And finally lvmh says to employees, please take the stairs to save energy, not come on. That's a headline, that's a beautiful headline that it's I'm shocked. I didn't have elevators. Christmas. Get some exercise people. And you'll be happy to know that of those three winter energy. Chaos headlines only one comes from business. Entire we have one from the guardian and one real fortune too. Yeah. Wait, which one? It is, let's play the game. Which one is the businesses that are one? Go ahead. Um, very clearly, take the stairs. Are you agree with that? I would have said the Eiffel Tower one. the buzzer goes to, Matt mascardi. Yeah, you're right already. It's the first Eiffel Tower of the I would. Yeah. So in the time, and the fourth story of the week is, I'm calling the blowhard indexes screaming at the sky is falling. Here are the big headlines, the Dow craters 1276 points as stock stock snatched their worst day since June 2020 After hot inflation reading. Can I just, I want to reread that whole thing. This is a beautiful headline, right? Dow craters. 1276 points, a stocks Notch their worst day since June 2020 After hot inflation reading. I need the word read. It's not just hot. The second one. The second one second headline, the economy is breaking hard, so like CEO dad. And CEO confidence is miserable, says billionaire, investor, Barry, Stern licked. And finally, this is the big news from ADI yesterday. FedEx, boss were warned of a worldwide recession. A FedEx has biggest drop in over 40 years after pulling forecasts. So there's a lot of this is like the tone of the Fall because because the the Press can't really do anything with covid. There's nothing they can have. They can't have their covid fun. That the airline chaos has been replaced by the energy problems and Europe. So this is the big one. Maybe, maybe they're the simultaneously saw that like a bunch of earnings actually were better than expected Starbucks. Yeah, so so killing it. It's like, it does feel very Cherry picky. It feels like, you know what? We could talk about, we have, we used craters in a headline today, know how about the Dow did? It crater this 1200 enough to call crater? That feels like. What's happening? This those are your big stories. Stick holder. Couples in my win. We have a fail. We have a winter energy chaos, and we have the sky is falling. There's no competition people, I know. Wow, they're very anxious, they should talk to someone and not the Press. Are you offering your services, your Chief, by the way, right? You're looking at an hour for your services, talk to me. All right. So story week, I see I see what you're doing here. When am I doing here NBA? I don't, I don't know what you're doing there. That's a big story. I don't know. Was it when an owner look this is except for to me. This is very exciting because this this model doesn't I don't matter. Correct me if I'm wrong. This model doesn't really exist in our corporate world with ownership of publicly traded companies. I wish it did. I wish we could walk up to elon's. Stupid. Tiny house in Texas, and knock on his door, and be like. Can you leave now? But we don't like get that opportunity. Well, boards are supposed to. Okay, stop it. Yeah, there's just say, hunter balance a counterbalance model of the NBA sports in America is socialist. Despite the fact that Americans love sports and hate socialism apparently. and the oversight of these companies is supposed to be About like boards and they don't really do their job. So really all you're saying is boards. Don't do their jobs and socialism works better. That's what you're saying. Okay. Ari would give us a score. If her face didn't freeze in whatever that face is. Well you know what she's doing, she's preparing for her next segment, which is the beaver segment. She looks like, oh that what that is. All right, why don't you vote for Ari? And I'm gonna vote for both, she's going for stakeholder capitalism, it's Patagonia. I'm also going for Patagonia there's nothing other than Patagonia or he's back. Ari's back, right, arii Internet go. Yeah. And all of us trying to say is I don't think the NBA was able to really break through Quinlan Elizabeth's noises. That's all that's kind of interesting. Interesting is that foreshadowing to your story because I don't really know where he talks. So are you suggesting that the Patagonia story broke through the Queen's death noise, and I mean, from the NBA's perspective, it broke through I, you know, a sports story goes. This is It's a pretty big story. It's dominating ESPN, got it. Hey, look, wow, what these sports leagues are essentially in competition with each other so the NBA's not going to admit it, but that they're stealing headlines away from the NFL. I bet they're secretly proud. That they have another racist that can talk about to get you excited for the next. Thank God. He's in. Thank God. Here we go. That's the story of the week better take it away. Our good list of the week. I'm gonna give you a little transition so you can collect your thoughts. There you go. I like that. I can't believe you didn't pick this story for one of your stories of the week. You don't have to disparage me when you introduce your stories. You can just she can't I trust win. Okay. Boo. I really use course, major legal Victory against Google really tell us on Wednesday, they you General Court rejected. Google's appeal against a 4.3 billion and try Anti-Trust, fine from 2018. the court agreed that Google had broken Anti-Trust laws by using Android to keep their leadership of Having the search engine be Google Chrome. Apparently, they struck deals with cell phone makers, like Samsung to have Google Chrome. Be the default and like the Google Play Store be also the default store. So He was like, no, no, we're still keeping this from 2018, and that's a big deal, because a lot of their other finds have they haven't been successful at. Up. Keeping it. During Appeals. This is okay. What's the one area where I always push back? Because I'm on, I love Anti-Trust. I love antitrust wins. I love antitrust battles. I live for, but the two things I don't get is like yelling at Apple and Google for this because they clearly have developed some. Some, their wonderful operating systems and Droid and iOS that most phones adapt. And how is that their problem? They don't have to Samsung, can they can roll out their own stupid iOS? No, no no you use and got it backwards. Tell me Google paid Samsung to make Google the default search engine. What all Samsung that's good business. Why is that? So that everyone's default is always Google. Now, the problem I have with this is have you ever gotten a phone or like, gotten a new computer and the default was not Google. And when you, when that happens, what do you immediately? Do you switch it to Google? Because everything else is kind of sucks. Sometimes it's Yahoo search and that's a real slapping. Can you imagine like, have you ever tried to use Bing? Oh, this is stupid thing ever. My doctor I was, you know, how your doctor Taps away at their screen when you're in there. Like oh saying things like, you know, this this idiot is hysterical and his ugly whatever they tap away at. I peeked over yesterday the other day he was using Bing Bing search. What kind of are you understand? He's ivy league educated. This dude, he's using Bing search. I don't know what's happening. Did you now? I mean like is that grounds for finding a new guy? I don't know who He'll do the EU general court and tell them to stop Anti-Trust because my doctor is using Bing now. Just right in the reviews of your doctor uses things, actually my daughter. So I I move on I kind of, I'm kind of surprised that you led with that one. But yeah, number two, As we mentioned earlier Patagonia founder. That's the that's the least of the way that company. So the companies annual profits which are about 100 million dollars, a year will be used to and a quote, protect nature and biodiversity supports thriving communities and fight the environmental crisis. So that story effectively broke through Queen Elizabeth dying. It's weird. How that that's the important takeaway. You're obsessed with it. Like what does talking about Queen Elizabeth like this? I haven't read that much about everything, I haven't read it. Well, you know, maybe she died. I, I read. And I feel like what you've done is spend every day since reading about other things about how deadly is? No, I go on my normal news sources and I have to scroll a whole bunch to get out of Queen, Elizabeth, and whatever. I know what's happening here. Matt is that just like Ari how she just started, she just freezes because her internet sucks. I think her CNN, or whatever freezes. Because I know right now, I don't see anything about that. Oh, but I see are, there's literally nothing. The top of the fold here about the queen. Nothing. Well, good news, her funerals on Monday. So after that, maybe we can all rest good news. Oh wow. All right, number three, good least of the week beavers. Fighting climate change, according to researchers, they're labeling, this little road into resourceful Engineers capable of increasing water storage and creating natural fire breaks with their dams. Get It Beaver? No, wait in California. Yeah, very important. Yes. Well the whole thing, the reason to pick beavers to me Is all right, killed it. Kill this kill. Oh, I didn't play that just every time someone says beavers that plays the reason the big beavers. Oh, there goes again. Is the beaver restoration unit? Oh, I like that's it. And the California Department of Fish and Wildlife has posted its first job listing for the beaver. Restoration unit, imagine are sitting around. You went to like 14 years of school to get a PhD and like double PhD and like Beaver ology. And you've been sitting around for a decade since then waiting until someone cared about beavers and then California goes and posts were looking for Beaver people and you're like my chair sit last what a great feeling that must be. All right. How do you feel about the Beavers being described as large rodents? It's just I think that's like it, don't you think that's a I just find out to be your swaying, the audience. You're you're playing a psychological trick on the audience there, you're telling them to love beavers, but then you also reminding them why you should hate them. I don't like, you shouldn't hate a beaver, because it's a large rodent. Yeah, gerbils and hamsters or rodents, come on. I don't know if you notice Damien, but I did not say large rodents, I know, but it's in the it's in the reporting of the article that you decided. Okay. All right, so we got it, trust win. The good list of the week Anti-Trust win, which no one's ever gonna vote for here, we got had to go on you, of course and beavers, so really to me it's between Patagonia and beavers, I know. I think Patagonia was the story of the week. I don't go beavers as good as the way, nothing, right? You might be right. Literally nothing. We we covered this week, made me feel better. Than beavers that story made me feel good. but there is because I'm actually super interested in what Ari things here. Not what I think not what Matt thinks I'm gonna go for the tie. I'm gonna vote for Patagonia. Are you tell us what is the good story? Oh wow, throws it back at her. All right go with antitrust. Just a troll. Damian know I don't think she's allowed the truth. No. Let me throw my employee. I'm gonna go with you. Had to go. Yeah, I feel disappointed by that too map but I also I did want to know what she thought, so Patagonia sweeping the awards so far. Let's see if Mac can turn Patagonia into all. So into as holiest of the week. Oh, I can. Honestly, can you really? I can't. Yeah. So for us all of the week, there are three options again. Yeah. Um, but you're overarching. My new thing is have one overarching theme billionaires? Is your overarching theme billionaires, collect asshole the week this week I think. And here are your three billionaires, okay? Oh, because she was from oh, because I got it. I get it. I like you get it right. We're gonna cheat between three types. You understand what he's doing? There are. Oh yeah. look, first and foremost is, um, Ironic billionaire, donors. Okay, okay, here's the thing. When Patagonia announces that there are donating the entire company to fight climate change. My instinct was to go look up the 236 billionaires, who signed buffets giving pledge. Yes, on Buffett's giving pledge. They said the pledges to quote, give the majority of your wealth to quote from their website, set a new standard of generosity among the ultra wealthy. You know, didn't we need to do? We need to ultra wealthy man. Can I suck their? Do we need to ultra wealthy? What's wrong with wealthy? I don't, this is so wealthy that their Ultra They get like a badge, I think they get about that, you know, that's how they get them to do this, you know who didn't sign the billionaire pledge. Who the founder of Patagonia who somehow managed to not sign a stupid pledge gave away his entire company and said this and the headline that every billionaire is a policy failure that's what he had to say. So okay, but maybe he just doesn't buy into the folksy nonsense of Buffett. Maybe doesn't want to like, okay, he's making all those other people look stupid. That's correct, the 236 billionaires look like assholes. Now this guy just did it, he didn't have to sign a pledge. He didn't have to like figure it out. A thing he did just did the thing. And, you know, the thing that he did, Oh, I can compare it to the thing that everybody else in this billionaire, giving pledges doing everyone else is giving their money effectively to the Bill and Melinda Gates Foundation. That is the major recipient of the giving pledge and I did that true. I didn't know, I didn't know. That is true. That is true. Warren Buffett is pledged to give the bulk of his wealth to building the gates, his friend. He? Don't Foundation. Okay, interesting, the foundation has 40 plus billion dollars in assets. They're the top five asset managers for the foundation. Make a combined 42 million dollars a year, managing the money. So this is basically ultra-wealthy money going to ultra wealthy asset managers to manage the money. And make more money off of the ultra wealthy money. They have so much money that it's equivalent to the entire state of Indiana's pension fund. At the Bill and Melinda Gates Foundation. And yet somehow, one, billionaire makes you all look like fucking assholes because you can't figure out how to allocate your money. This guy just was like, here gave it all done company, I just gave the company away. I'm done. So you're you're first asshole. A week are the 236 billion years, who signed buffets? Giving pledges are what you're saying that they couldn't do it. Yeah, that's what I'm saying. Number two asshole of the week. Yeah. On ironic billionaire. Cry, babies. Tell us what you hear. I'm just gonna read headlines. Okay, yeah. Kanye West pulls an Elon Musk sends Gap, a letter, terminating the easy deal. Kanye was a set. Yeah, very upset. He signed a 10-year deal with gap last year. That he's now pulling because he's really upset that no one asks him every time they're going to do something really upset with you. So now he's pulling the deal, he's a big Cry, Baby about the deal and then yeah, go ahead. No, please. By all means I I gotta say I'm impressed that he's even partnered with a gap in the first place because we, I live by a giant mall called The Maine Mall. Get the pun m, a i n e, it's the biggest mall in state by far and and we just got we got rid of our Gap. Like drugs, a mic drop moment. Matt, you don't get rid of the gap. So what what's up with Easy in the first place? That's because you got like L.L.Bean and stuff And then keep moving. You can get ultimate, the ultimate billionaire Cry Baby and I don't mean Elon Musk. Peter Thiel decrying. Woke poop filled California wants the GOP to embrace a more positive agenda. The man who said he had an enemies list. Yeah, what's the GOP to be more positive? You know, shut up. I found this to be a fascinating. I'm glad you brought this up. I find this actually to be quite fascinating because here's one thing we know about the right wing but Republicans they don't they don't listen to women. So let's just strike women off their list right there. Women don't know their meetings. Sure. Okay. It's just men, we know that just white men, right? But does Peter, Thiel openly gay man, Peter Thiel. He represents. He must represent the woke wing of the of the right, right of the ante so much farther right than most, but he was being gay. Do you think that that's why he's suggesting a positive? But do you think that this is the, this is the woke wing of the anti-walk because I'm saying like, oh we see more positive agenda, he's actually asking the anti woke Wing to be a bit more woke, right? Isn't that what he's doing? So is the anti wokes beard? Yeah. Like there's something going on here because he's he is asking the anti-walk to act more. Whoa, no, I think what he is that from positive agenda is pretending that this, you know, ending the world's not gonna end if we didn't do anything about climate change. Oh, see I take from it. You idiots are pulling badly. Right now. So maybe sound a little bit happier about the future. As we crush the end the woke. So it's the, it's the old political oxymoron, compassionate conservatism. Yeah, it's it's it's, it's compassionate, it's stupidity. That's what it is. Okay, enemies. On ironic billionaire crybabies number two. Number three, Is this guy? Like that, that guy. If you're watching the live stream of the video is Estee. Lauder are dual-class, family, dictator. Ronald, Lauder news broke and today, here's the headline Cosmetics. Billionaire convinced Trump that the US should buy Greenland. All I, the only reason why I'm picking this is because there is no way that this guy look at this guy. He literally is the picture of an angry, white male billionaire. He's if you close your eyes, he's what you'd see. I got two questions for your mat. First of all, why wouldn't he try to give Vince? I'm, he's French know. His nationality is unknown according to okay, then I I can't then strike that first question because I was gonna ask. Why isn't he asking France to buy Greenland? Second of all? What makes these billionaires think that they would ever sell Greenland to the US? Where is, well, they did disability. We actually pissed off. Denmark in the process, of course, but but these are just so, just so we're clear. I know, the anti-woke are listening to the show, and I know that we have a lot of very conservative listeners, you know, like just normal conservative voters, This is two down to earth. Middle class dudes. Who both went to Wharton deciding to buy whole countries Trump. Well, and the Estee Lauder are Yeah, get the fuck out. Nobody, can you imagine? Oh God can you like, can you imagine a full Bama for a friend of Obama's from college called them up and said you should buy Canada? And you imagine how? Like, the right wing of America? Would piss himself angry. But no, that's what actually happened. These two were just around golfing. Don't get me started about the Cosmetics, industry, in the first place. So, this guy started, this guy right there. You can't see him if you're not watching the live. So go watch the video that guy. That's my story. What do you think? We got ironic billionaire. Donors, unironic, billionaire, crybabies billionaire errors. What strikes? You that actually really like the an ironic billionaire cry. Babies Yeah. See the General West thing that just that just tickles me. But the ironic billionaire donors. That is Gonna be just trying to she wants a sweep. She wants a sweep. They just want that intro. Wealthy label they're like, oh, if I send this plate ultra wealthy I just can't get over the quote, this is direct from the giving pledge website. Go to the giving pledge website. Look at the about read it. It says quote, they're this what they're going to do? Set a new standard of generosity among the ultra wealthy. They? This, the Patagonia billionaire founder just through shade at them. Without knowing it. how about, you know I I initially I love the, the billionaire are story about Estee, Lauder convincing, you know, Trump to buy kids. It's like it really is but like I have to go. Unfortunately, I got to go with the Queen's. The Clean. Sweep of Patagonia only because I Like the Way Queen. Yeah, she's not like the way I like the way you set it up. I like that. You were somehow able to shoehorn Patagonia into the assholes of the week and it doesn't remind me the other. The other story we covered, who, what I forget the name of the Reddit, the guy who owned, who was married to Serena Williams, the only guy who did a thing, During Sohan. Yeah, the only guy who did a thing during the whole black lives matter movement to yours ago. We stepped down from the board immediately and handed it. His seat over to a black woman. It reminds me of that like just do a damn thing. Do the thing. Right? So I got to go clean sweep. How to make a call and that's it. You're done. Yeah, I like it so. Wow, Clean Sweep. I don't think we've had a clean sleep with this before. Oh I credit goes to you, Matt, for somehow shoehorning a great story Into the asshole is the week. I didn't even make him the asshole. I thought about it, but I couldn't find an angle. Uh, oh, looks like we can wrap up the show and under three hours today. We're already onto the who won the week section. Yeah. Well, are you guys gonna all choose the same thing? You're gonna choose something and I don't have anything clever to say here. All I said was Patagonia, duh, I don't have anything clever to add. Yeah, same. Well, I made it. I tried to make a clever. I was out. I actually think the winner of the week is the anti-woke, because the only ones who can be happier than the woke about Patagonia is the anti-woke who can use it as an example, for the rest of the election season about how capitalism is woke and failing. It's a perfect segue. Matt. It goes right into my prediction predictions already. Wow, yeah, well, I got I got to run with your segue because my prediction actually is that the anti-walk movement, which really is Florida? I suppose it's gonna sue a billionaire for donating their money wrong. Oh, wow. They're gonna call it. The two woke giving act. Well, I think we're ready for this. Yeah, like with this, I think we're ready for this. How dare he gave up his company for, for a hoax, right? For giving to a hoe, there's there's something we can see here for right. There has to there has to be, there has to be a way we can avoid selling Patagonia and our state. Now, because they gave it away, crazy, that's just alternating. It's indoctrinating youth. They're just something about it. That is just wrong. It's just They'll figure out a way. Yeah, are you predictions? I do. I think the asshole billionaires are going to feel slighted by Patagonia giving away the company and therefore, they're just gonna announce their Giving more money. Oh, billionaire. Donor dick War. Yeah, really are. So just be like random. Oh, this person donated, you know, just shockingly optimistic. Ari, mine is actually similar to Aries, though. Which is to say that when I was reading about the donors, like the giving pledge, the thing that struck me is billionaires are basically donating their money to other billionaires foundations. Yeah. And at some point, they're going to realize that they don't have to actually ever give their money away. They can just donate their money in a giant billionaire circle, jerk of donations to each other in the same amount and then named their children as Heirs of the family foundations. So the money stays entirely amongst the billionaire class because what is really happening here? Billionaires are largely giving their money away to foundations. Those foundations are In large part run by other billionaires and then billionaires get to choose how to spend the money at the foundation, but they didn't have to pay tax. They just circled it around themselves. Perfect, segue to Ari's least favorite topic. There was a headline in CNBC that the Prince Charles. Now, controls third does not have to pay a single amount of a single tax dollar for the air fortune that he is inheriting a single time. Yeah, that's exactly how I want to end this show. I got dressed. Let me, I gotta think everybody because this is the first. Oh, sorry, I forgot. I forgot that one. Little Quirk and our system, every single answer, every win this week was Patagonia. This obviously had a profound effect on us. This is a major stakeholder capitalism moment. It swept every prediction, every winner of the week and all three categories, this is never Happened. Never it's a big deal and it's so big that that's already the data Queen and that's Damien Raul's and I met mascardi and it's big enough that we would suggest that you come back next week to see if there's another big story of the week but you can only find out. If you listen all week to everything radar show in five stars subscribe and give it to all your friends. It's the only way you'll know exactly. We'll be back next week until then goodbye.