Business Pants – 2022-11-11

Live. From room 1111. At the ESG, fake sheep stew. Pop-up. It's the I guess Jesse's officially part of the front, I show now. So this is the last time an introduction will waste any time talking about Jesse. All right, I promise everybody. It's the Friday show edition of business pants. Featuring here we go. Are the data Queen. You're always first are that's, that's kind of that's good. I'm a better way. That's happened a lot. Jesse the money Whisperer. Oh here it says Jess the money Whisperer well oh no, no no no, no, no old man movie was guardi and me. Yes, D, I'm actually younger than you are my old man. Well, you're attitude is very angry. You're always calling everybody asshole. He's very good off my lawn Ash. Yeah, okay, let me ask you this before. We begin the show. Should I be ESD or ESG d? But what's with the D? You see what he did there? I can't decide. Yes. Is Amy in ah, that I got both the wrong. You should be SD know but that's like age. That's true. Never gets old on today's show. Nothing about yay. Alright, nobody has a yes, I know. Yay stories. Yeah, all of yays friends. I can see are in this show today. It's hard to avoid. All right, let's get to it. We got Story of the week. That's me Goodluck is the week that's Ari as holy as of the week, is Matt. And of course, Jesse's shoved at the end almost like an afterthought, Jesse. I don't know why they put you at the end. I gotta work my way up with exhausting of the week, which is actually kind of my favorite. I like this exhausting this because I told you before. That's who I am an exhausting, I'm exhausting, and, are you exhausted or exhausting? Everything was exhaust is meant to be clear. I am not exhausting. I am actually get. You don't actually get lost in this. Yeah, it's not gonna work. It's we need a new name for this exhausted. Let's just start. Come on, yeah, store the week. Oh, I like it. I don't. Why do you have to do that? I don't like the I like to minimize your contribution to the show. I don't like Elementary School humor. All right, here we go story. I'll start with the obvious one here in the US. The US elections happened on Tuesday. The real, the easy takeaway here is that the the Red Wave did not happen, which is the referring to the, the anti-walk, I guess, the climate denied climate change, deniers the anti-wolf. They? Like it was like a golf clap Victory, though. I mean, they saw no actually, they might directly speaking based on the president's approval rating based on the state of the economy. Historically speaking, they really underperformed? Because usually great. Yeah. Okay. So why even slightly outperformed? Yes, she would be illegal, abortion would be illegal, it would be illegal to be Brown in this country. I mean, they've probably lost he's already going to the asshole. Yes. So the week okay stop. Here's the reason why this this matters to us. The ESG part of it climate here, the headlines, climate Advocates, win Key Governors races. As Democrats, the five Red Wave woke is on the battle at this midterm. So it sounds like, you know, the anti woke, maybe lost a little bit and school culture War campaigns fall flat in some races. All right? So that's that's first story that we us elections. I'm sure you three will have more to say about this. I'm guessing Yeah, yeah. Same with the next story. I'll try to keep it short. Twitter's shit, show. I mean, this is even, I mean, we talk about it. I know it's too much but, you know, we, we're dedicated ourselves to a daily news show here, so we don't really have a choice. So here's what you missed just from yesterday, just yes, just one day Elon Musk warning, that bankruptcy could be possible at Twitter and then these key people all quit. Head of trust and safety UL, Ross, Chief security officer Leah Kisner Chief, privacy officer, Damian and chief compliance officer Marion Fogerty all gone. And these are important roles. So important. That the FTC, the Federal Trade Commission said is tracking recent developments at Twitter with deep concern. Yeah, that's all happened in one day. They resign or they quit. Oh, one of them already said she came back musk asked her, like that's true. So it's already a reversal who came back. It's been 24 hours, came back and it was the head of advertising, like, sales advertising something. She can't I didn't list that one. Yeah, because yeah, no, yeah, this is the, that was like she quit on Thursday. So, um, so so it may not have made your 24 hour loop because it was like 26. Yeah. Okay, Matt. I don't, I'm not gonna call head of advertising important. Here's where I'm gonna call important head of trust and safety Chief security officer, Chief privacy officer Chief compliance officer. I mean, those feel important. There is, I mean, like isn't musk, isn't the point of buying a social media Network that you invade other people's privacy when you don't like the things that you're saying, if you're the billionaire who bought it like that's the point. Why is the FTC even concerned? Yeah. Why did they shut up regulators? I got more to say here but I'm gonna take a brevity, I'm going to move on. That's the second story of the week which is a Twitter show. The third story that we all know what ship show Which I don't really cover your think God. But it's the crypto shit show. I don't even know how to talk about this again because we don't talk about it. But essentially FTX which had a 32 billion dollar valuation is now gone bankrupt and the Man In Charge there, the Wonder kid Sam. Bankman freed has resigned And why is this a big story for us? I suppose, I'm gonna call this, maybe an ESG win, definitely a win for board. Saber metrics. Listen to this headline. Sam bankman-fried's, crypto Empire was run by a gang of kids in the Bahamas. Who all dated each other. That's right. And they're looking into you and investigating you. Yeah. Literally, I mean like we are reliving history, right? Like, isn't this, the Silicon Valley Tech 2000 bubble. But like where everybody was like in a bean bag, chair playing hacky sack and like printing money and there's a few more women in this one. Second time date to date. They yeah it doesn't specify whether they were heteronormative once again. Sorry. Sorry. Once again the takeaway is you can't put everything control of one. Person. Can't hand it over to one, idiot. Yeah, before I move on. This other article about crypto, CNBC investors have lost more than two trillion dollars in crypto in one year. Is that possible that sounds like a trillion is that a lot? That's money was for just two trillion dollars a lot to lose one year. Just said yes. Don't talk over that, right? All right. Jesse nailed that one. I don't have a trillion. So yeah even if they pretended they had anyway I don't lose real money. That's my we think God we don't cover crypto here but do you have anything? You have any crypto takeaways for us other than the governing thing go like, what am I supposed to know about this? What I don't, I do have crypto takeaways in the asshole yesterday. Okay. Moving on over this part. Yes, the takeaway is crypto, is a governance story and yes, thank you. So fucking boring. That no one knows about it and now they care. Wait, to be clear. This is the exchange that FTX change. Oh wait boom. But the exchange was funded through collateral given by another organization where the CEO owned both and it was like cross shareholdings, effectively. And the way it was governed, I mean, the way it was governed was one making decisions with his Bros and it's not that he wasn't like, supposedly a thoughtful guy or wanted to do the right thing. It's that he had zero checks and balances and he's already admitted, he made like two bad decisions that have wiped out. Billions upon billions of dollars for for people. The real estate takeaway here is is this is that you usually all the horrible in this happened at a Stanford but but this is a block guy for MIT. These people came out of MIT I know. Fourth, big story the week. Last two or quick number four, meta laying off 11,000 people. So Zach is again. Yeah. Another company in the, in the hands of one single person meta Facebook, things aren't going well over there and fifth. This is purely a business pants story of the week, but I have to include it because it's important for us Tyson Foods CFO arrested for public intoxication. Falling asleep in the wrong house. Another But yet another governance story because the reason why it doesn't matter is that he is part of a family Empire. John R Tyson the great grandson of Tyson. Founders, can you talk like that more great? Yeah, we had a gossip column, this would be great for the gossip column. We do have a gossip column. It's our show. It's our life. We talked about the last. Yeah, we we are the ESG tabloids. This is why no one listens to us. But actually like their their you've have five stories. Yes. But of which four of them are effectively massively Consolidated College, Dropout, losers. Should be in here. There's no. Oh it's in charge of things who are idiots. Screw up your Empire. With no checks and balances, that's what you're right. Story of the weekly, right? Absolutely right. Because crypto is unregulated. It's too woke Jesse, it's no but really, but no one knows really what it is. So they have no idea how But I think that's part of what the anti-esg movement is that they don't want anyone telling them what to do. That's basically it like they're big babies, they don't want anyone to help them. Well crypto thrives in Shadows, right? It does not want transparency because in order as soon as you introduce transparency into a decentralized process that value is anonymity and is built on libertarian you know ethos then you've ruined the whole point of it and then like the rest of them are just like there are obvious just white men with no checks and Bell musk, has no checks and balance Tyson family has no checks and balance. And on that company meta Zuckerberg is the Dual class autocrat there. The only one that's not sort of strictly white men with no checks and balances was the US elections well which has been mostly white men. Still does not represent the demographics of the US, but so, let's just a lot of that. All right. Time to vote. All right, I'm gonna sew Twitter. Twitter is interesting to me. I also read that Elon was like, Twitter's gonna be the most valuable company in the world, and he actually said that about Tesla and it became true. So, no, you're buying it, you're buying the Personnel is not, the is not the most car company. Okay, fine, fine. And gee I was like, okay, to back you up Ari. He's this is a Bloomberg. He said, just last week at an investor conference that he believes Twitter can become the most valuable company in the world. Yeah, you know this, I might get fired for this but I'm like a little bit rooting for him. Oh wow. So you and Jesse both both musk Bros because Jesse has a test Rob. I wish I had I don't care. Rob is Jesse to me. I'm never gonna meet Rob, he's Jesse. Anyway, I do think that even though Twitter is that car accident? You just can't stop looking at. It is definitely. Last week for this week, election, obvious choice, but the crypto thing, the FTX, that's what your show. That's, that's what I'm going with, really interesting. Yeah, and I'm just posted at even though Facebook laid off, you know, so many employees like, 13% of their company or whatever. Well, because they trimmed the fat, their stock went up like 5%, how dare you call them, the fat, That's all so capitalism. I know you reduce the cost without changing the output, right? And guess what, you can attest to. She ate her pet lamb last week. It was delicious. No, I can't. Nothing is safe with you guys know, one for us. Jesse, do you have a vote? Story the election, of course, come on. I was doing here. Oh, what's wrong with you about them? And I like this, no Reggie. She chose a meltdown at FTX over the yeah. How dare you? How dare you Matt you can basically break a tie here maybe or can go your own way. Well I'm deeply deeply tempted to go the business pants way and she's a good one. I mean really okay you joke about it but it is actually very important to what we do here. Very important state bird metrics very important to our whole. The whole reason we started this stupid company and it's the story. Nobody cares about. But doesn't it encapsulated? This should have our existence. Yeah, last two decades like this is what we've dedicated Our Lives to the CFO of a company going into the wrong house, falling asleep in a bed next to a college aged woman. That's 0.00. Nothing with the board. Nothing's gonna get fired. Still going to have his inheritance. He's, there's unlikely to be any consequence. That's literally what we built this company on. Like, to point to that guy and be like, you see, that's what we do. But for the only thing is the election, that's the only conversation. How you doing in the United States? I'm gonna agree with Jesse and and I guess, kind of Matt us election story of the week. Moving on, what do we have? Oh, goodly is the week. I almost said, godliest. Maybe we should turn yours into godliest, are you? Go ahead. All right, I got three things for you first. One, it just made my morning. It was it Twitter users with blue, check marks. Impersonating big Brands and they had the most amazing tweets here. Explain this. Yeah, sharing the story. I don't open these articles, I don't get it. You please defensively, tell me what the hell's going on with this stupid verification. I don't get it. Yeah, go ahead. Yeah. So as you know you can pay eight dollars and get a blue check mark because you're very fine. But these were like fake, but verified because they clearly stated in their bio that they were parody accounts of big companies. All right. So you have to back up very slightly because he's got that like I'm confused face. I just don't want a blue check. Mark is a couple weeks. There's all right. Well, that was a rollout that they did and then they recalled and they actually today announced the re-rolling it out. Not, I'm not joking. They launched it on like Monday. They recalled it because it was terrible and then they relaunched it today because what they've got is terrible, but people who check marks just give up. Historically you get a blue check mark on your account when you're the real person. So I could be Mike Tyson and there could be 5,000 Mike Tyson accounts but one Mike Tyson is the blue check mark from Twitter. He's the Mike Tyson. I like your example. I must Mike Tyson's, a good throwback. Yeah yeah, I like that Elon Musk decided. The best way to make money is to sell blue, check marks to anybody who wants to pay eight dollars. Best way to make money is not piss off half your advertisers by existing and or don't buy Twitter, you want to make some money. Oh there don't do that. Okay, continue Ari. So anyway, Fortune had an article of some of the greatest hits, some of the greatest tweets and one of them was buy a Tesla parody account named Tess capital, i a real. So it looks like Tesla real with the font. And here's all for that. Yeah, it did. Everyone's everyone's talking about Twitter Growing Up in Flames but our cars did that before. It was cool. That's actually true. Yeah, then we will be offering 10,000 vehicles to support the Ukrainian military. Our cars are the most advanced explosive devices on the market. That's come on. I have they have this morning and literally left out. I don't laugh at anything and maybe laugh. It's just really, I said it's so many people. So this happened over in eight hours stretch right and sensing the end was near the account. Said we ride this till it combusts like a Tesla battery, so lots of fire jokes but I thoroughly enjoyed it all. So another another parody account, sure impersonating, Eli, Lilly. They tweeted that insulin. This is so bad. That insulin was now free which forced the real Eli Lilly to issue an apology saying that the Tweet was fake and that the price is not going away and people can keep rationing their insulin because capitalism and fuck you. And just a reminder for more than 14% of insulin users, the cost of insulin is 40% of their income. They spend half their money, buying insulin, you know what even worse than that is that everyone knows like stealing what we do here. Like, they're all doing nuggets. They're all doing corporations. I know that we just had to explain on top of this. I don't care. I'm pissed. I'm pissed. I didn't think immediately to start a test like account or like accounts of any dual company. The Russell was like, The for eight dollars a month, the pure genius something. Yeah, like Activision. Be like, okay, we've been great before you get the next one. Can someone please explain the how was this different than it was? Like how are these parody account? Why is this a thing now? Okay, the reason why it's such a big thing out is Well, multiple reasons, but one of them is the blue checkmark thing. Before people who were able to get the blue check marks, are people who already had a ton of followers and people who were actually like this either famous for being famous. Now, you can buy it one two. It's a giant Fu to Elon right, also, Elon the guy that was like, show me how many Bots is, you know, getting trolled, so hard. By the way, I love it. It's great. Yeah, he was, he was good, you know, the guy that's like Trump should not have been banned. From Twitter is now Banning Accounts to make fun of him. It's just the way. He's owned Twitter for a while now. Trump is still banned. So, Elon seems like a liar to me. I think there's a lawyer that do this and you'll blow up like your cars. You lost me on that last one but I still love what you're saying. Next good leaves the week, French scientists call for ban on private jets, a symbol of climate inequality. So I love scientists protests and scientists are increasingly joining Civil Disobedience. And as part of a broader International campaign called make them pay, I love that we have shirts, make them pay, friends is gathered outside. Just all Aviation headquarters in Paris to denounce private jet use. Worst Taylor Swift. The group demands, the band of private jets frequent flyers and overall making polluters pay for their outside contribution to greenhouse gas emissions in a separate protest on the eve of cop. 2700 of activists blocked the departure of private jets from the tarmac. At an Amsterdam airport, okay? And as we covered in one of our previous podcasts on, in book Data before, private jets can be five to 15 times more polluting per passenger than an airliner. So this is an eat. This is like one of the easier things to be like This shouldn't happen anymore. You know, normally I would I would crap on this story but since it's scientists yeah doing the protesting. I'm gonna, I love it. Yeah you know just protesters but they because everything but that scientists were throwing tomato juice on things I would awesome. It's important. How do you throw tomatoes? Do you like make a cup with your hands? And then you kind of like They could throw it people's faces, that we funny, right? All right. And then, last but not least, obviously the elections big deal this week and voters approved protecting abortion rights. Yay, I feel weird about those because it's sad that we have to celebrate this but California Vermont. Michigan voters, chose to protect abortion axes and in China in their state constitutions. In Kentucky voters rejected and amendment that would deny. I feel like I'm seeing a 1,000 negatives talking and but like somehow we still have to celebrate that and other election highlights Joshua, California Vermont Michigan. These are no brainers but Kentucky that's that's big that's big. They rejected an amendment to deny okay yeah I guess so. Sorry standards are so low, nowadays. You know, anything in the Deep Red, this is a victory for women in the Deep Red State. I'm sorry. Come on, that's big? Yeah. Okay, Dr. Oz name. An amendment of any Constitution? That just says you have no rights. Like the Constitution is your list of Rights. They literally wanted to enshrine in the Constitution. A not, right? You do not have the right to me, you mean can I tell you why? Men, that's what you're talking about the theory. I think because the question was An amendment to deny a thing. People get confused with how was true. So they know they should vote in favor or against the thing because he didn't know, you know, two negatives. Are you terrible? I know what happened since I know for sure we have no listeners from Kentucky, what I'm gonna say doesn't matter but you're a terrible person for saying, that all of Kentucky is stupid or was it just deceitful because they're like oh we're gonna get them on this. Know maybe and they were like, they're not to see. We're well read, we don't have read anyway. Dr. Oz from the show. He ran First Tennessee in Pennsylvania. He lost great news. Good. Lauren bobert did not immediately win the race is not to win. Yeah. Well it hasn't been officially called yet and she's up by less than half a percent which means they have to do recount. This is in Colorado. FYI, a record 12, women will serve as Governors starting next year, the previous record was nine women and it was set, it's still sad. 24% is still up, but hey, it's better than S&P 500, right? There's just like 20, 30%, that seems to be the real ceiling for women. That's it. That's all you can make on the Friday show, I'll say that officially 50% on the Friday show. Anyway, that is it. What's our influence though? Oh wow. What is a good question actually. No, I am the money Whisperer. I feel like yeah and has to be decently High. Just like Matt is a good thing and then Ari says, I'm not building it. I think they're influence is actually near 100%. You say that but Jesse has a good point because unfortunately for this Crimea company, we're the co-founders. Matt. We're the so our influence does is a little too high. Maybe I'm well why don't we renounce our co-founder ship and just give it to them, probably won't happen. All right, so please vote. How your heart desires? Please vote you oh you mean on the good list of the wheels like you know like elections are over. You just talked about the election vote. No, no, thank you. Have you ever been to Atlanta and sat in the traffic Atlanta? I've never been. No, I've never been, I've only been one since I was like, that was enough? Yeah. All right. I'm team here. I want you specifically to vote on this? Here's the ballot question. Yeah. Are you in favor of amending, the Constitution of Kentucky by creating a new section of the Constitution to be number 20 section 26. A to State as follows to protect human life. Nothing in this constitution shall be construed to secure or protect a right to abortion or require the funding of abortion. I have a master's degree. Wow. That's what they rejected because you would actually, you might actually think that it was saying you have the right to an abortion. Like it's very confusing. I think the new what they were doing. I think the women in Kentucky, for I think they must they must have had multiple campaigns throughout Kentucky to explain. What the fuck that says, that's that's on this the week who wants to go first. me just Hi scientists. I feel like the protecting of abortion rights is almost skirting. The line of the most exhausting. Yes. Unfortunately, we are ready established women's agency over their bodies, 60 years ago and now. So, yeah, that's exhausting to me. So I say French scientist, good list, and some insight into it for our listeners. And anytime that Ari has a story about the French doing something, it means that she has dropped the ball and can't find her own stories. And I've sent her something because I read French news because I'm a nurse, a loser. Chief. Yeah. But they do a lot of things there. They like this strike and they like to yell, I love to strike and I love that about them. So anyway, that's that's Jesse's boat. Matt, you gotta vote. Yeah, I can't vote for for scientists asking you something. No, I can't. It's at like, how is the good list of this week? Some scientists asks for thing, right? Up on Jesse's Choice, um, it's either voters approving protecting abortion rights or musk's troll fight. I'm not gonna go with protecting abortions, right? Because I do actually think it was too confusing, I'm not sure I cannot in California Vermont and Michigan. That's like a true thing. But in Kentucky, I feel like that ruins it for me. I'm pretty sure they would have voted for the opposite thing and they were voting for like this line of you. I'm just saying, I read out the ballot. It's not obvious. Isn't Harvard Harvard's in? Kentucky, isn't it? They're pretty smart down there but the good list of the week was, I immediately thought, when I read the Twitter responded for this one, I immediately Thought why didn't we started Twitter account in? Which we said, we've asked, Kimball must to step down from the board because we just realized it's elon's brother. Like I just thought that would have been amazing. Cowboy hat. The cowboy hat? Confused them. They're like, he couldn't be heard. They don't even look like that. One's wearing a hat. This one hats. It would have been amazing and I can't I'm really pissed. I didn't think of it so that to me is a good list. I'm gonna give you a tiebreaker Ari because although I do agree with you Jesse that is just utterly distressing depressing, whatever you want to say that. We actually now have to vote on protecting abortion rights. It's still I still feel pretty good about it. I mean I I don't know I feel emboldened by the elections this week. Especially Michigan a lot of success in Michigan, going blue and protecting abortion and I made me feel good. So I'm gonna vote for that one. And let our re decide what the guiltiest. They were, you break? Wow, I was not expecting this. Well, I am totally caught off guard. Yeah, come on. You have to have a feeling here. Yeah. One more than the other. Goodly. Okay, she's literally realizing what is right now. Going like what? I don't even know is this I mean I'm just I'm crafting all of my head so oh really. You're all right I mean the voters are just so depressing to me so I can't possibly do that. Okay that's out. Oh God the president things also very depressing. I love science protesting that he's gonna go for the chuckles. It really made me laugh. It made me laugh at the week. Trolling a horrible. It's the greatest. It is the good. All right, where we got. Oh, as holy to the week, this is all, you know, this is too easy for you. Matt, I feel like Maybe we need to retire this category, it's just everyone. Yeah. It is true that it's a lot. All right, I got three assholes for you. The first asshole actually piggybacks off of last week's Sasso. The last week's asshole was Tesla's board as the primary enabler of Elon Musk. I get into secondary enabler of Elon musk's and I'm calling him. The twit Bankers Morgan Stanley Bank of America on Berkeley's. So here's the headline, Twitter, buyout loans. Get bid at 60 cents as Banks, sound out investors. What's that? Sorry, I'm sorry. And don't laugh at me. Jesse, what does that mean? So I'll get there. Here's the short, asshole Bank timeline. Musk offers to buy Twitter signs agreement tries to back out and kills the Twitter price. Okay, musk says afterward, he decides he has to buy Twitter. He's obviously overpaying for Twitter then dumps 4 billion of his Tesla stock in order to quote save Twitter. He's now admitted that. That's why he did with that, right? That kills the price of Tesla, which is his collateral for the loan. He took out to buy Twitter, right? Banks, still fund him because he is Elon Musk like a fucking bunch of assholes. They're like you're Elon Musk, you're a genius, whatever, you've got billions because Tesla and now Banks took the loans. What they wanted to do is take the loans. They gave to musk and they wanted to Syndicate them, effectively, sell them to investors. They say you will sell you the cash flows, you give us, you know, investment capital. Then the loans off their books, the risks off their books, they pay him, the cash flows, and they've syndicated out the loans. They can Syndicate it in smaller bits. It's like you turn it into an investment security. but it turns out musk has been such an asshole that the banks have literally lost 40% of their money in two weeks because of his asshole behavior on Twitter. Okay, no responsibility is born by musk. The banks have to eat the losses. What about this conspiracy theory? I read this morning Matt that that he isn't and I don't understand it. So, you know, I might butcher this but he's intentionally Screwing with this, so that he can then rebuy the debt is he can make money off the debt. Somehow is this a thing? Yeah, well sure. That that that's not not possible, Right? But this is like the Trump all the Trump theories. I remember when Trump was president was that he is intentionally being really stupid as this like long-term game plan, you know like 10 years from now. This is gonna happen but really they just idiots at work and we're trying to save them right. In Trump's case it was obvious that he was actually an idiot without a plan, he's just self-interested, I don't know, he went to Wharton. He went to Wharton, I take it back but in musk's case I I think he could be that clever but he might bankrupt himself on the way to it, right? Like because this is, if he was, that clever is, as long term plan at Tesla to tank the stock there and get sued by everybody. He works there and to recall Every car that he's ever sold there so that he can do something set them on fire. Like, what is that? I don't know. This just seems like dumb everywhere. He's tweeting pictures of Nazis. Literally this week this week that's just on the side, okay? To side. I will see God what else? Number two is crypto Bros and this gets to the FTX thing but here's the headline. I pulled crypto peaked a year ago. Investors have lost more than two trillion scents and Jesse did confirm that two trillion is a lot. So it was rocked my world. But here I want to I want to the reason why this is asshole. The week is I want to focus on the word investors. This is a paper from morning consult July 2022. They said that crypto ownership basically surged in 2021 when there was that crypto Mania and everybody was buying and buying and buying a majority of the people who bought 72% were men, 28% were women. Crypto owners are actually ethnically diverse, 23% are Hispanic and 41% overall identify as non-white. Wow. And of the, of the crypto owners that they, they surveyed, 60% were Millennials or younger and almost half of them, make less than 50,000 dollars a year. So let's summarize. Yeah. When it says investors have lost more than 2 trillion, what they're saying is Hispanic men who are 27 year old and working at Walmart lost two trillion dollars. That's what they're saying. Yeah, this is a, this is like, this is even more depressing to me, because really, it speaks to me that that they targeted a generation. That was disillusioned with the stock market, right? With traditional Finance or travel. This is why they piled in, they piled into this damn part of gambling, right? I mean is not where essentially what you're saying, that's essentially what I'm saying and the crypto Bros including Hester Peirce, whose crypto tiger mom of the SEC commissioner Hester Peirce who wrote in June of 2022. Bitcoin Market has grown matured become more liquid and attracted, more and more sophisticated participants those sophisticated. Participants include 27 year old Hispanic men working at Walmart. That's the sophistic. Now participant, I'm not saying those people aren't sophisticated. I'm saying when you make less than 50,000 dollars a year, There are rules that you cannot buy private Equity. You can't buy hedge funds. You can't buy certain Securities because they're incredibly high risk and every dollar you put in them could you could lose however you can put whatever you want into Bitcoin and Hester Peirce was making the argument that because Bitcoin is so big and mature and liquid that sophisticated people are getting into it. It's not just you know like small little retail investors anymore and she went on to say that one feature of non-sovereign censorship resistant mechanism for storing and transferring value is its ability to function outside of the traditional Financial system and finishes by saying that if you drag it into a To the people, the concern is liberty and personal autonomy. That if you prefer, we ought, instead of fiat currency which is just stupid. You would reject a government that arbitrarily limits people's investment options. effectively, she's saying, like The that people are going to reject regulation in this market. I bet you wish you had a regulator. Now I bet you wish that this was a regulated entity so that before you bought it you knew that a it was well, governed and B. You had rights of some kind that included getting your money back. It's fake money. That we're so sold to basically poor young minorities that what it was. So what you're saying, it sounds like every other recent Financial collapse, it's a money. Grab for the elite for the rich for the right like but worse, when things collapse ideology, at least the other money apps are like, widgets and gizmos. This is like an ideology like a more Prime was like a gizmo. It was like we're gonna give you a loan and don't worry, you'll make your money back. It was like they're selling you on this, on a promise of of money, but it was like, a widget sold by the traditional Financial system. I'm not traditional Financial history, land are better. What I'm saying is this literally harvested money from people who could not necessarily afford it. And there was no guardrails, there's no guard fascinating. I and I did not know that about the demographics of crypto owners. Did not know that and, and, you know, maybe ironically is the wrong word coincidentally. But but your first two story musk and crypto are are tied together, too. I mean that is that Should I be surprised by that? That's just a coincidence. I all the this is these are the crypto Bros Dorsey musk SBF. These are their ideologues like they believe in the concept and the concept May bear fruit someday. But the concept without guardrails, I mean, they effectively sold it to people knowing that this is the wild west. We have no idea, so it's Tesla crypto. It's like, it's like fake. Libertarianism for white, dude. Yeah, true libertarianism selling my test. You own the rest? I get the money. That's what it is. It's just like feel depressed. Can you move on? I feel really depressed. The last asshole. This week is robots. Oh, a bunch of stories about robots and you so old-fashioned Matt. Yeah, I know. This is old fashioned asshole. Here's the, here's the story Amazon. Yeah, robot spread but we quote still need humans is what the? That was the headline. I think that's a company saying, have you not created robots to fix the broken robots robots yet? Well, I, I just, I think that the asshole who gave a quote that says we still need humans. I mean, thanks. Well, that's okay. Something we've reported on many, many times Amazon's actually famous for not knowing how to keep its humans. That they, they're attrition rate is more robots, right? Like, I don't know how to they don't know how to keep their workers. They're like injury rates is higher at their most automated warehouses. because everyone's like teasing the robots or like a peanut and then the robots slap It would be amazing. I wish I had at my fingertips that bit that we had a caller once upon a time, we had people call us and there was a call one time who left. It was an Amazon executive, you left a voicemail that said they were going out and collecting homeless people because they had such a high attrition rate, right? Putting best on them and sending them to work. And they had like not that they were fetched they. You're using bulldozers to collect them or something. It was great. It was a good call. But here's a, here's a quote from the article. Quote companies across the supply chain are pouring money into such Investments pushed in part by difficulty, finding workers. So, they're blaming the Wailers. For increasing the robots. Sure, that's fun. And here's a short time line of the workers and companies being assholes, if you need to remember it. Number one, companies treat workers like shit. Number two, covid hits workers, die. Number three, companies are then forced to pay workers, more because workers are quitting. Realizing companies are assholes Number four companies forced to realize they also treat brown people like assholes and then number five, they go higher more of those. And number six. Now, they mold the idea that maybe workers are annoying and they invest heavily in robots. And then finally this is this is part of my prediction humans left to wish they had legs and Mark Zuckerberg's and word filled metaverse. That's okay. Now you guys left for us and meanwhile, I just as a side note to robots while we're investing. On getting you your rubber chicken as fast as fucking possible with his few humans involved as possible. Here's a headline climate change. 1.5 degrees Celsius warming threshold to be passed in nine years. As a missions, hit record high, only the robots now Will Survive because we spent all our money on them. well, maybe the robots will be in Miami and they'll get all wet, and then they'll short out, We can only hope that that the crypto capital of the world. Miami has two minutes, right? Another good connection there. Yeah, that's true. That's right, I forgot about that. So this was, this was completely depressing down here. You're just want to get off the show. Now, my god. Well, hankers cooking and I'm gonna spend all day in bed just like morning life. The nine years of life, we have, you know what? No, at all know what that means. It means that the I wrote this really, really well. So you're well, I'm gonna vote first and quickly. The bankers that seems like every week. No, offense, Bankers, I love you. Keep listening to our show and if you want to sponsor, go ahead sponsors, anybody here in the banker Monopoly. I was always the bank. Oh me me. Me me. Yes, and robots. Yeah, that's a story that doesn't really go away. But I, this is the god to be the week to put a big asshole label that that story should know. It seems like I'm gonna copy you but like Hester peers is a tiger mom of Krypto just killed me. Yeah, I'm voting crypto too. Wow sweet, wow. Let me get the hell out of this category and go to our newest finest Edition. The money Whisperer. The great Jesse scanland, maybe we should play Monopoly one day know just for a 10-hour game. Of the week. This is all gonna be a little bit depressing. So now I now I feel bad. Okay, I guess yeah because being exactly. It's all right, go ahead. All right, so as if we don't pay teachers small enough, salaries they're messing. We're messing with their current lives. Now, Canadian teachers, I saw this pensions are being messed with too piggy. Backing off one of her other stories. Headline is Canadian teachers could have a 95 million dollar hole in their pensions due to the FTX crypto implosion oh he's doing I tracked it. I checked what I know in the US we don't pay teachers anything. So I just wanted to make sure before I made that claim Canada's doing the same average starting salary as low as 46,000. So still pennies yes yesterday. Ontario teachers Pension Plan released a statement saying that in October 2021 invested, 75 million, in both FTX International and then the US city area FTX, then it made a follow-up because obviously there was a crypto craze, so it made a follow-on investment of 20 million in FTX Us in January of this year. The prize by that, I'm surprised at how aggressive they were. But apparently, yeah, it said, any loss from exposure would have a limited impact because it represents less than 0.05% of the pension fund total. Net assets, which is great point. Oh, five percent even I understand that math that's clickbait, which is great, but still there, that means there's some degree. High risk in these pension plans, and some of write whisper whisper. Well, anyways yeah, it might have been clickbait but it's still sucks and we still need to pay teachers more. So, Ontario, teachers, Pension Plan? They're always been big. They're biggie SG. Fans. Right? Big ESG clients aren't they normalize G fans get on with crypto. We're just walked up and Know there's different greater. I've met with different groups. I've met with them. And yes, he met with them. Ours. You can back off the mic. I mean. Like the them. There's a lot of them. And Ally of them about yes, she's stuff and they were very condescending. It was very nice. Alright, Pension funds. If you usually very kind, I hear they acted like I didn't know what the fuck I was talking about this but the fact that I spent 10 years making issue stuff, it was nice. He's looking at you Toronto race. So you like you like condescending I like it. I actually, I do. I condescending, I like less than pure asshole. I prefer pure assholes, like, we know. Sending is we live? We live with you. We understand you? All right. All right. Two, just, we are still coming in hauling over daylight savings. A lot turned her clocks. Wow. Funny enough, we just returned to Standard Time which according to the American Academy of sleep medicine. Which has been backed by cardiologists dentists national Safety, Council. And others? Yeah. Bros. Topic crypto Bros aligns, best with human circadian, biology and provide wasting benefits. Like we're all Standard Time right now. Correct. Now, it's in the it's in the spring when we jump ahead. That's daylight savings time and apparently it affects our public health and safety which means that Studies have shown accident Strokes heart attacks. Spike, when we switch in the spring, That's what that stage here. I think. I like the other time. More. The other Jesse just do a stand-up routine on sleep. What's the deal was? No. The best part about Jesse's Daylight Savings Time exhausting bit, is that the list of medical professionals include someone who looks at your teeth as a barometer for your sleep? I think it makes sense. You think it's funny, but the oral microbiome is really taking over the medical field right now. So just won the show with that time in the Limelight. Wow. That's the rise of dentists. Why is that? Not the prediction of the week. True. All right. Maybe that's a good way to make it. We're in standard time right now. So are you understand? The story was mainly presented for Ari, because she is exhausted. I got a special request to include this. The reason why ourselves switch. Also my husband snores, but this switch is detrimental, especially to like the younger. You are so kids, it can take them up to a month to adjust to the switch. All right, literally drink. More coffee kids is, is one hour behind us and understanding which one is daylight. That's why she's always so delayed. Okay, that's why it's so slow. All right, okay, I did hear that. Dangerous time. Oh, shoot. Now, I don't remember which one. Oh, one of the two. Yeah, aligns better with deer. So here. Yeah with deer with the with dear circadian rhythms I guess are. So if we picked one, it could save a billion dollars in yearly from Dear car accidents, 33 people, die, every year, thousands of deer die. But it all amounts to a billion dollars. I know really Advocate. Where did where'd you know, random dear stats. This is the point, the show where we have to tell Ari that direct don't drive cars. And also do, we have to explain you the difference between a.m. and p.m. now like what else? Don't you understand? I don't know if she's just went to Google University and pulled that up. But she did have on the tip of her tongue, that 33 people die a year of from dear related car accident. Not enough, she wanted me to include this story, she wanted me, it was all recorded here. In Surprise. Yeah we have Egypt hosting cop, 27 this week. It's the sixth funny and it's 18. Yes, exactly. Because while hosting this un climate change conference, they're still holding the priority of selling fossil fuels and critic. Critics have Challenger Fitness of Hosting due to other glaring, climate contradictions, such as lackluster emissions, cutting targets and massive infrastructure in restructure projects. Destroying Green Space, across Cairo and sucking water from the already stress Nile. Oh blah. So Truly, they would be a great place to host the biggest climate change conference. Well Jesse, if they need water, Coca Cola sponsoring company. What's the problem here? With a good good. You know are you a Coke and chipotle kind of, girl, I oh, that's a dream date. So yeah, very romantic. So anyways, the government in Cairo is really, really excited about Europe, being in sudden need of natural gas and they are they are creating shortages in Egypt to supply to Europe and make money off of it, and they're hosting. So yeah, all around contradictions and what else you got? That anything. Not depressed. I guess exhausting is exhausting is its long-term depressive. Like, we've been depressed about this for years and years and years. So, all right, last one is finding show that tracking remote workers has no positive effect on productivity instead, it leads to a lack of trust surprise thing that's like, 307% of employers, have added. Or increase employee tracking. Since the start of the pandemic, unsurprisingly, 45% of employees are stressed out about being tracked, surprise, surprise adults don't be. Don't like being tracked by other adults. Well, don't do that. I don't get that. Like why do you even think that would solve your problem if you as a manager, don't trust your the person's reports to you, what are you just fire them? I mean, well, there's all industries that have productivity like any companies that build clients have productivity into performance. Like, when I worked at a international accounting, firm part of our performance, was was based on metrics like this law firms. Same well. It is now the time to admit, that one of my duties here and when they're in there, what I do after every show is I actually stare at the green dots on slack and I record. I do I do this for I give this data to Matt. Every week I record the amount of hours that your green light is on both Jesse, and are you and I send it to mass what I mean gaming actually. You said me. Some, I am sometime it's, yeah, with like no reason and I want to see how long take to respond. Yeah. I'm gonna say it's really creepy, because he told he did tell me, how many goats were killed to feed Jesse last year. So. Okay. But in my defense this is exhausting because who thinks that it's a good idea. To micromanage like how are we? Still micromanaging. Our employees think it's going to help creativity. Yeah, it's a lack of creativity and it's here in greed. It's never anything. It's proof that despite that they're hiring women, to be the head of human resources and I actually give them actual any power because that's like a male Elon kind of move. You know, at my previous employer, super large firm. There's this person in my cubicle that would just click up like his on his desktop. He would just click his mouth. I kid you not. A thousand times because he thought that the numbers clicks were tracked, stop it. Yeah this person. Wow, this person was also Happens to be an immigrant from happens, to be your husband, Asian country. And my first thought was like, oh maybe this is what they did over there. Turns out, look, this is what they do here. I don't like the direction. You're going with this already know. I'm serious. You can't PC beeper. Sorry government, you know. Same here. I guess this was her annual bonus. Bigger than yours. Did the clicks work it. Was an engineer drive a Tesla guy. I wouldn't you assume it was a man. I would soon they wouldn't see why wouldn't you assume it was a man? That's her response. Thank you. Jesse sauce is of the week and we want to go and we got exhausting. We got I don't even want to read some of them up. Yeah, go ahead are gonna go with daylight savings because Daddy, I'm gonna go with climate contradictions. I think this one I got I got unsold on the crypto one. When it's point zero five percent of their most. Yeah, tracking remote workers is has it's always a thing and daylight savings, I don't trust dentists. So I'm going with client contradictions. And I told my dentist is this recently because I didn't know if I should be embarrassed or not. I I know basically routinely fall fall asleep, during my dental, visit I put on your one of the only relaxing places I know but I'm laying down. It's like in the morning I don't have to work, it just relaxing with your mouth open. Yeah. We're talking about something else. I'm gonna vote most exhausting of the week. It won't matter. I don't know. I I'm exhausted by this category already in honor of cop 27 because we purportedly on ESG show. We we supposedly used to work for MSI. I'll just say, I'm gonna agree with you. Matt, climate contradictions. It's, it's absolutely, it's exhausting just forever. We had that same conversation about rich people. Flying to copy 27 conversations exactly 77. Yeah, if you don't include the world economic Forum, which is and it's like sponsored by cocoa, Lottie here. Who won the week? Somebody help me. Somebody. I'm gonna start, I'm gonna say me because my great state of Maine rejected. Our many Trump, former governor, and we're stuck with what I love being stuck with a woman in charge. That's right, we re-elected Janet Mills for governor. I feel like a winner this week. Thank you, Janet. When you can Kentucky on this week because even if Trump on me for support, what? Okay, go ahead. When you mean I was like, oh, proud of Kentucky. You're like you believe that we're in confused? I believe that. Why? Why are there the winners? Because through their confusion, they made the right choice for now. Wow, that's really good. Well, I said our ovaries when the week thank, you know, so just he did not have ovaries of regionally. I just want to point out, she opposite of ovaries is what she had before and now it's over. I saw it on the document. Baron, I'm gonna go with company, fake, Twitter accounts, one this week for me. Okay, fake accounts on Twitter are the Zeitgeist. I'm now very excited about that. Okay? And before we get to predictions, my first predictions only met in Philadelphia. I'm gonna go first here, predictions a Friday, the Friday before Christmas and a classic corporate news release dump apple is gonna reveal that its CEO. Tim Cook is actually been dead for four years and this is why Apple consistently over performance because that's the key to success a dead CEO that doesn't upset. Anybody. Wow, hologram. I expect. Anyone else? Yeah, I predict that because we're still switching times more deer world. Yeah, that's more of a fact, the best part about that one is I saw you type it in just, that's my favorite part about this. Sick prediction, or this thing wrong with the death. Oh, Bambi's. At least, at least we know that with Jessica ever dinner though. So, that's I'm gonna predict that. I don't need. It will be soon, she will soon. We're gonna be lit by dear and you're gonna be out there with a knife dancing. I am predicting a climate change, kills all the humans, but the robots continue to deliver their drone deliveries to their houses. Oh, like dead. That's my pile up of nonsense. I'm gonna go back to being Back next week everyone. This is business pants. This is the only show that will make you vegan. If you join it. Till next week that is US, goodbye.