Business Pants – 2022-11-19

Can you just do the intro? I wanted already live from Room, 11. 18, is that right at the ESG Hilton Garden? It's the it's really the garden that makes it ESG. ESG e. Just, you know Zach, green washing know. Yeah, maybe that's that's a foreshadowing to Jesse's pieces. It's the perverted esg's Friday, Show featuring Aria, the data Queen, Jesse the money whisper and Matt, I don't know why we've never really joked about this but you can't spell msci without mascardi. That's the other way around. You can't smell muscari. Without Emma way around. Yeah. But I feel like I like the idea of their can't be an msci without you. I like that. Thought better. Thank you. I'm ESD on. Today's show. ESG wins. Parking lots. Just got a whole lot sexier. The World Cup is full of homophobia, but not beer and play washing Brainwashing. It's a lot of phobias. It's not my fault. All right. So here's how it works. Friday, show wrap up of the week. I do story of the week. Ari does good list of the week although I think she was struggling this week. Matt, of course, Matt has the easiest category as holiest of the week. And finally our newest contributor Jessie. The money was exhausting s of the oh it's s. E. S t exhausting s, right? yeah, more like you're an expert like an exhausting his expert or Talking about. All right, let's get going back. Give me some kind of music. All right here, that's already fading. Sorry him. Yeah, I just fell asleep. Here, here's your give me something. All right. Story of the week. ESG wins everywhere. All right. Before we start story of the week, turn up your volume slightly. Okay, I got four ESG wins. I'm not I'm not cropping you for ESU wins. Here we go. You know, particular order the first win. The CEO in charge of the FTX restructuring calls, the case and unprecedented mess. This was the guy who also oversaw the bankruptcy of Enron. He's saying he has never seen anything as bad. In 40 years, the structuring firmness And at the heart of the matter is an utter and abject corporate governance failure, it really? That's the easiest way to sum this up. No. Utter governance failure. It's a huge win. Praise J. Is it absolutely? Is she win in my book? I'm not gonna call this the governance failure. Go ahead governance, win, you know, something. If you're gonna, if you're going to say that you have to follow up The Simpsons, this is a due diligence failure. This. I mean, So what do you failure? Which is my favorite kind of failure. That could be it too. Also that just like, sorry go on. Know continue. Well, you know, I I'm assuming one of your other stories dating this week will be about Elon which is another way dude, failure unfortunately not my fault. but yes, unfortunately look Venture Capital firms plowed Millions upon Millions if not billions of dollars into FTX and and SBF, right. And what did they ask for? In return. Did they plow that money in saying oh we'd love to see your balance sheet. What you're expected, growth rates are, we'd love to see, you know how you plan on diversifying your revenue streams. Know, they basically gave it to the Adam Neumann of crypto. That's all they would. What is different about this? They learn nothing. They learn 0 things about how did you do diligence? Because all of the governance red flags existed. Back when it was like five college buddies, swapping, you know, mating Cycles on bean bag, chairs, dreaming about the crypto Universe. This is not different. They didn't write a thing down. They literally didn't write a thing down. We hide Jesse and we have no money and they didn't hire a thing down. How was that? Not a win for ESG though? Are you not describing why it's important? No, it's it's what it is. Is a the red flag should be. If Venture capitals involved. They literally asks zero questions like this okay this is an entire industry predicated on the cult of personality. How about this investor? You know, chamath our favorite chamath. There's a headline that chamath VC investor. Once advised Sam, bankman fried. That's SBF. They're calling him SBF. He's freed. He asked him to form a board. And his response was go fuck yourself. Yeah. Yeah. Jesse. I'm not kidding. This is this is actual newest. I'm sorry. So, Matt, what is the next step when? So is it, whose failure is it there? I mean, are you suggesting that's when someone gives him Millions upon billions of dollars to build FTX right chemo is correct. But why is Shemar a, the only guy who asked that clearly? I don't know. He's the only guy that asked that and B, why are we hearing about it now? Why doesn't she say when everybody's giving him Millions upon billions of dollars. Hey moron's The basic thing you can do here is to set up like I'm not even talking about a board with like a diverse Board of interesting people. I'm just talking about like how about three people who aren't as College buddy aren't him or he's not sleeping that one guy or the girl he's sleeping with right. Yeah. Can anybody again this is not a joke because the other reports of that the 10 people I think essentially who are running the company live together and all slept with each other. Yeah, I mean the news, that's the news. Yeah. The Chamas said it. We will even settle for someone who's not your brother and someone who didn't give you several billions of dollars and and venture capital. And somehow Elon Musk still pass muster before we move on. SBF also said, fuck Regulators. They make everything worse, and and what we alluded to at the top of the show. He also said, and this is our favorite. Quote, ESG has been perverted beyond recognition and one thing that we want to get to the barn was what What was it before it got perverted. That's why I wanted. I wanted to know what his starting point is and was and I I guess I get the ending point. It's perverted. But what's the where do you think it came from? Like I just want to know. I want to know what's inside his glorious brain. Obviously, some kind of uber genius. He I think he was talking about that in relation to like that effective altruism thing where he makes a whole lot of money so that he can donate all that money. Well washing. Yeah, he thinks ESG is Like not solving the world's problems but he could through effective all true ISM. Right. Which effectively took eight billion dollars of his customers money and related on fire. Let's move on. We got some some effective and ineffective altruism later with judge, Jesse's Stories. Number two. The second ESG win. Sorry, I have to report on this. Elon Musk abruptly, shut down. Twitter's offices as workers resigned on math. So In a nutshell, he sent out this terrible email at midnight, telling people that that we need to be extremely hardcore which means working long hours. And if you're in, if you want to be a part of this, it said in the letter, please click. Yes. On the link below. Oh my God. And anyone who is not done. So by five pm tomorrow, will be good. We'll be fired. So as it turns out, most of the people there are saying did not click the link and are leaving so many. In fact that he has been calling people trying to persuade them to stay. And there are ports that several Twitter staff members are hanging up on Elon. So this is a continuing shit show going on at Twitter. Yeah go ahead. I did read too that The some employees had to call the HR department to figure out whether the email was a phishing email because they were insured. They've been taught not to click the link. I was gonna say, right? I saw that I would be like, this is a phishing email, for sure. Is why we have Jesse? She's a fishing smeller. Gotta go. Look at where what the origination email says, and if that's legitimate this, none of this feels real to me. Never mind reminds me of those notes in elementary school when you ask a question. Yeah. It's like no this is the one you put in that your that person you like blocker that's like yes check. We don't have video today but I like those but that wouldn't put in the locker. Did anybody in Middle School ever figure out how to get that note back? You just landed back. If it's a, yes. If it's a no, you're not pretend you never pretend. You never got it. Oh my God. The OG ghosting we're gonna do. We're gonna do True Confessions right now. I put that note in a girl's locker and didn't get it back and then I put it in again and then someone else came to me and said, that's not her locker. That's my locker, that's nice. It's actually last appropriate, it's not inappropriate word talking about it with this reference point because this Elon Musk is forever. Stuck in middle school? I know no joke, I'll tell you what's shocking about this. He gave them until 5 p.m. Eastern time working so hard that he should be doing. Not, if you don't get this at midnight and read it. Like, you're out clearly. I don't know if anyone listened to my solo show this week. I walk data Wednesday show, but there was also, there's a lawsuit going on where he's defending his incredibly greedy, pay package, 55 billion dollars. And one of the key points is that the chair of a Tesla board is saying, I don't care how much time that Elon actually spends a Tesla. She said, over and over and over. I don't ask him about his time. I don't care about his time. I don't, you know, it doesn't matter how much time he spends and then the same time at the literally, the same moment. He is sending this obnoxious, email out to his employees. And, and he's wondering why they're abandoning him. I I cannot believe under our watch. This is actually happening at a publicly traded company with a c. I just can't, I cannot fathom any of this is being real. Don't worry, I'll get to them in my asshole. Okay, fine, let's move on. You just went part three and the win there again, for the ESG world, is you should care who runs your company that's the win, right? This is what sells, it doesn't just sell putting drugs into children like books. It also sells caring about who runs or companies issue in part three. The, the top, the top CEO, female CEO, and all the land. Nancy Pelosi is stepping down after leading her party for 20 years. And I'm calling this an ESG when because the three people who will now take over the the house and the Democratic party is a black man, a latino, man, and a woman. So there you go. That's an ESG. When I'm calling it, I'm calling it a diverse, a diverse slate of winners and ESG win their um whereas the South Asian, quiet, man. Well, I think what you're really asking is where is the blonde woman to run HR? That's what you're really asking where's Reese snack, because that's the highest good question. Well, that's another country Matt. That's another country. Sorry, I get it's all confusing. Yeah, so I wanted to, I wanted to put that in there. I wanted to honor the top, the top female CEO in our country and its Losi was BF. One of the top donors for this election cycle. That may well be. Yeah, sure. What's your point? I'm saying that's why we ignore so much crap because he donates a lot of money. To know, we're not ignoring crap? No, not us Regulators. Oh, okay. Well part. The problem is, I guess is that these old Regulators don't, they don't know what to do with crypto. That's part of the problem and be it was a private company, right? False has to pierce the tiger, mom of crypto knows exactly what to do. Gonna throw her Pearls at them. That's all this clutching her pearls. Sorry. She's going to yell. Okay. You to leave crypto alone. I can I can I admit because I'm explaining me. What does that mean? Clutching your pearls? I've never known what that actually means. Isn't that like upper class white woman way of being like, anxious. Like, you're clutching someone's gonna steal her pearls? Like, yeah. Like you're like like anxious nervous tick. All right. I think I just made that up. I don't know. One's no one's agreeing or nodding or doing anything. Well, it says here, I looked it up. Yeah. Because to behave as if you're shocked, especially when you show more shocked than you really feel in order to show that you think something is morally bad. So it's like nice, even though eventually start washing. Oh, see, we didn't turn on the video for this show in which Damian does the little flip thing from middle school and Jesse clutches her pearls in acting job of the Year, Jesse corporate theater, maybe just, I'm gonna pause the show right now. I won't put this out in the podcast, but next time, when you Google something, don't tell people. You've looked it up just pretend like you have the knowledge. I pretend constantly. That's all you have to do you like intelligence? Yes. Yes. Thank you liberal School classic, dude. That's the guy wearing the Harvard. What else you got? Yes, she wouldn't hurt for no mountains. Have a lot to say about this. A speaking of female CEOs, Elizabeth Holmes will be sentenced today. With their owners founder. Faces up to 20 years in prison. After being convicted of defrauding investors Holmes, on the other hand is asking for 18 months of house arrest. That's a pretty Fair. And I'm gonna remind everyone because I know Matt has thoughts about this. point of comparison, Martha Stewart who was put in federal prison for insider trading with her in Clone stock back in 2001, she got five months So, I wanted to know what everyone. Thinks about this, maybe some predictions. I know you're upset about the Martha Stewart in jail thing, but where do you land on home and singing she's going to jail for. How long? What's your prediction? Our project five years? And your time has a it's up to 20, she could get up to 20 years, right? So New York Times is trying to save her for some reason there's a big story about how so many people wrote trying, you know, the court saying, please don't, you know, send her away and She's also pregnant with her second child somehow no way. Yeah, I think that's probably on purpose, come on. She's using that for a little bit of time and the format, what, where you land on this mat? I don't think sigh, he doesn't care. Jessie, I don't I like Like she's never gonna have another job again. Like not at that level, right? Like I would I would take her here but Adam Neumann will have jobs for the rest of his life after he thinks his carbon and ft credit thing. Any tanks, the other new real estate ething thing that he's doing after literally lighting, billions of dollars on fire, we won with you. That guy will have jobs forever and he's viewed as like oh people were willing to give him billions of dollars because he's a risk taker and like a big swinging dick. She will never have another job, she will work as a cleric and some, like, maybe she'll go to a nunnery, I don't know. She's gonna be like, what do you thinking you're doing a lot of just? What's happening with Ari? She's gonna be famous for her life. She doesn't need another job for life. That's called Infamous for life. She will be she can make money of her. Well, actually, I think the law doesn't allow you to make money of your the crimes that you committed yourself. Does you go do? Give speaking? Tours about, you know, Jordan Belfort, The Wolf of Wall Street. Yeah, the guy's a millionaire. Many times over really after doing a job, I don't agree with you. You're proving my point it works when I'm the point. I'm proving is that? It works for white guys. It hasn't worked for anybody else. Nobody give it. Martha Stewart is, she's back at it. She's making Lobster's and 12 dollars on an insider trading Scandal. And they made her a like she after that, she more or less. Just bowed out of the public eye until recently when she and Snoop Dogg. Got she likes the weed, Martha. All right. I'm thinking five years, Matty, predictions are just seeing Matt for the sentencing. There's, there's no way she gets less than two. Jesse, do you care about this? No, I just feel bad for her kids. So poor ponds in this whole thing. I hear you. And she's gonna spend do the two at a minimum. Minimum, like the pool party version of a minimum security prison actually. No, I actually heard, yeah, the Wall Street Journal reporting that she's actually going to be spending in Matt's 14th bedroom. We haven't built that yet though. Yeah well okay but that's part of the court order. So get ready. All right, let's vote story of the week. Is it all all ESG wins is at the collapse at FTX? Is it the collapse at Twitter? Is it this Nancy Pelosi stepping down handing over a try to diverse board? Or is it a CEO Elizabeth Holmes. Getting some action? I'm gonna go first because I don't want anyone to Send, I'm gonna pick Twitter, like this story ongoing weirder. I'm going Saga. Just when you don't think it can get worse. It gets worse. Yeah. So go to Twitter. All right, just wanted to give the right answer or I like diversity. yes, democratic is right. That would have been my vote. God. So no one's gonna pick the right, answer the right. What is the right? What FTX is the emmeryn of of Jesse this generation? It is Krypton Ron. Matt, I'm the tiebreaker and and as much as a, as much as Jesse is actually correct. That. This is the person I want to honor the most Nancy pussy. There's no doubt that the collapse at FDX has to be the story of the week has to be right? It's everywhere. It was a story last thing is no just now, like making me feel bad. Well you may feel bad because you said, you agree with me and now you, I do agree with my heart with you but my heart agrees with you and I know Matt hates my heart but I but I heart as I have to just go I have to get into ESG analyst mode and this is a I do really honestly think that this is a big win for ESG. This is why I created this story like a Lewis is he's been embedded with SBF for six months and they've already like basically option the movie rights on Netflix for this course, I'm moving on. Build these are the week Ari the data Queen. I got you guys. I have four stories for you this week. Good. So lots of good. We're gonna start with JP Morgan Chase. They're gonna give all new parents 16 weeks of leave Before they had 16 weeks of paid leave, it started in 2016, but it was only for primary care. Givers and it was very difficult to prove you were primary caregiver. If you were not the birth mother, So in 2019, there's a class action lawsuit against JP Morgan Chase. Because a man was denied a 16 week leave, and he was only given two weeks. They settled for five million dollars, which is absolutely nothing but this coming, you know, 2022. They're changing to JP Morgan please. They're changing their policy. So that both any parent of a birth child or adopt a child will get 16 week leave. And I mean, that is great. It takes a man to like bring a lot. Yeah, that's good, the same. Yeah, that's okay, that's how most progress for, like, gender equality has that not in the Democratic Leadership, you just see, exhausted. All right, I swear a couple of months ago, you reported that Norway was offering 12 months of leave or something like that and you're you're excited about 16 weeks, this enormously profitable bank. I don't I don't feel, I don't feel and I'll tell you why, okay? Women's career gets derailed is because they are gone for 16 weeks at a time while they're male counterparts, who are all. So having children are only gone for two weeks at a time. Yeah, so I mean this hurts everyone. This hurts society as a whole right like parents. Any parent should be at home enjoying this first few weeks was their child newborn child. It's like it just enjoying whatever being sleep, deprived, whatever it is. Yeah. But in women should not be getting the back like the short end of the stick twice at work and at home. So I find this good. Do I shit on this now or do I wait until the end is there room for progress? Of course there's a proper at the Low ends. I think. So you, it's very sober advice. All right, and into your question, Matt shit on it later. I'm excited. I'm gonna wait for it. I'll wait for it. Go ahead have grown meat is. Okay for human consumption. They us FDA has given us safety clearance to lab growth for the first time. Yeah, it's kind of, it's a big deal actually. Yeah. What's a prolonged like me one, step closer to having lab group me to hit the shelves but in 2020. Singapore was the first country to allow the sale of like grown chicken. No surprise. The same is premium chicken. Wait whoa. There's a term called premium chicken. Are you kidding? I love that premium chicken. What would you Down on the shelves and stuff. I don't mean knowing no one. There's a premium chicken. Why would you, why would you opt for like, like floor chicken? Because it's way cheaper. Oh yes. I'm gonna lead us. Yeah, I'm a little confused about this though because I think on a prior show we talked about regenerative farming and like totally get that this can probably help hand in hand with that, but doesn't it also dissuade Farmers from adopting regenerative farming, which is also good for the environment or is it like a two-prong approach where like both is better than Putting all our resources into her generate farming so the regenerative farming was not for animal Agriculture and animal. Agriculture is the biggest culprit of greenhouse gas emissions to come from the Food Systems as a whole So you can do both because they are different things within the food system. Doesn't aren't animals, a byproduct of like, if you're using animals, the way that I understand regenerative, farming is you're using the animals to help the farming to help regenerate the soil, and then at the end of their life, hopefully is when you're killing them and that's when you're processing them. So, not all regenerative. Farming uses animals to regenerate the soil, and the one that I talked about a few weeks ago is using different types of crops in the same Farmland. So this will reduce water consumption and also the need For green. Yeah. Yeah. The green. The mono cropping. Yeah. And the farts, right? Like right now, this is chicken. The FDA safety clearance was for chicken but there's they say that it will also be done for other types of meat. I need to say right up until our just said fart. Yeah, that was literally a significantly smarter conversation than it than it's ever been had on this show in three years. That's why I opted I told I don't that's the two notice that the smartest conversation that business pants is ever had. Yeah. Happened between not Yuri. That's why I didn't talk. Yeah, that's why I literally, I know better. I was like, you know what that and you know what I was doing? I was busy. Let me in an article, I had questions. That's I was busy looking at our article called the meat you eat is already fake. And which this featuring. Matt listen to this featuring a man named Howard Pierce. You should probably look him up to see if there's a connection and the 1940s who had a national contest looking for the chicken of tomorrow. So see the things you focus on are the premium chicken and the chicken tomorrow and the things are he's focused on is reducing carbon emissions. Through FDA approved lab grown chickens. Yeah. Oh no, I'm well aware of the different tenor of our conversations is just different. You know, what else he got already? Come on. So, this is really, wow, us does. All right. oh, this really got me going, I am so pumped yes, more than 80% of 4 years. Colleges. Yeah. Won't require standardized tests for fall 2023. Oh, whoa. 80%. This is a lot. This is huge and down with the College Board. We go. I did not realize that this is a non-profit. Did you know that? I did not know that. And Ari the US US News is getting the rankings. Yeah, I saw push back to I think Yale Harbor. Bunch of them are already like, yeah. I mean they don't need to be ranked, they will be the reigning Champs forever but it's awesome. You know, symbolically anyway, College Board. They charge students for every single thing like you want to breathe while taking this test. Oh, you're paying for it just, you know, a joke man. Is that That's my type of joke, but SATs, if you want to, if you want to take the essay question, with the SAT, you have to pay like 12 extra dollars. It is 68 dollars right now and eight, he exam that you would take in May it costs 95 dollars. However, if you register for the test after November, it will cost you a hundred and thirty five dollars if you want to send your AP score to a college, it is 15 dollars per college. like, Whoa, again a very prolonged eating. This is a company that literally makes tens of millions of dollars every year in 2019, understanding how many AP classes are, you was in high school. This all of them, the war on this podcast are very quietly thinking I didn't say any of those things. I don't know what you're even like what is AP stand for advanced placement. All right, so in 2019 the CEO made 1.7 million dollars and nine other Executives made over half a million dollars. So I think this is an amazing thing that colleges won't require this because it honestly just measures how well you are at taking a test. And if you really good at taking tests like good for you, you can still send in your scores because it's optional. So but if you're not then you got all this other stuff that will maybe help you get into the college instead. What are I don't believe her but let's not forget about the the number of courses. The kids of opulence can take to help boost their scores before the test. Like, Classes by the word. Oh God. That's a good one. I like that one. Anyway I want to see if Matt can crap on that one but go ahead. Keep going then crap on everything last one for our Franco files of the show Friends. You don't have to use the stories I send you. I just love them. France to require all large parking lots to be covered by solar panels. Yeah, baby that's kind of good that's that's like that's golf clap. Legislation. This week that will make operators of parking lots with more than 400 spots have every parking lot in the United States. Be covered by solar panels in the next three years. The smaller parking lot of years. Yeah. Three years right. Actually was an actual thing. Yeah. If you are a smaller operator of less fewer than 400 spots between 80 and 400 spots, you will have five years to do this. However, this is still weigh before. 2050, this is amazing and France estimates that this will be enough energy to power over 8 million homes. And that's about 20% of households and France. Wow, but are, does that mean like, no more? Like when you go shopping during a rainstorm is no more like Mad Dash from your car to the store. You can be that's gonna be dry in the parking lot. That's sucks Damien. I'm not gonna have to burn my legs off and the summer anymore when I go to France and have a car? Yeah. Remember when that was ever happened. Like you know when you get in and deceit Like Girls shorts like your the back of your thighs, get like your sizzling why just girl shorts, you know, we wear short, I don't know what girls I worship. I wear shorts. You got pockets, and girl clothes, don't have pockets like that. That's all right, here's what I like about this story that yeah, in Ari's right up, She Wrote quote, think about the shade. That's where that's my favorite part of the story. Just so, yeah. The shade up here in Maine, where it's cold, we need this, we need the sun because you know, we we seek it. We need it, not for your car. Oh, that's right for you. All right, are we voting on this? Yeah, let's do it. Please. You have a lot to say you want to just kick it off. Well, I mean let's just start with JP Morgan who offers all new parents 16 weeks of leave after being sued three years ago for not doing it and then changing the policy so that they won't get sued again and lose another five million dollars. Yeah, that's not altruism, that's not. We're gonna do the right thing that is literally, we are going to get sued by everyone unless we make this policy equal. So, you know what? I call this one Matt I call this the one. I'm not, I'm not gonna vote for this week, that's what I call this one. It's really hard to call it like the good list of the week when it's the result of a lawsuit. For doing bad things. Lab grown meat is okay for human consumption, that's fine. I don't know why we need to eat so much damn meat. Anyway, I don't like this either, eat less meat, what's wrong with bread and like chips. Like why don't we need so much meat? I eat a lot of beans. It's all I'm saying. Plenty of fiber and bad. You meet one, you should be bread but yeah, being good, right? Here. That's why you hate France. No no, I like Francis Brad. I don't like our bread. Know, we have another Franco File again. Who's Francis? No puns, the not requiring standardized tests. There is one part of that Damian you mentioned the story about them, pulling out of the US News rankings, the not using standardized tests. I like the pulling out of the rankings, I'm a little more annoyed at why having nothing to do with like, pulling out of the those rankings. It is a statement about rankings and I don't know if you guys know this but the business that we're in the morning we make money selling ranking's directors. Can I tell you? This is exactly why I pulled this story because I wondered initially. If this was some if it was wrapped up in the woke Wars know it's what it's wrapped up in ya the methodology of the rankings, the methodology of rankings in general in like the US News rankings favorite they've made. So they've made choices about the methodology that aren't empirical. They made choices about like because they're just making up a ranking right? But the Over the course of the last 20 years, they've become so important. And the only Benchmark that a lot of kids use for. Like, where do you want to go to school? How good is the school? You're going to that huge amounts of capital in the institution themselves. Get diverted to game the rankings, which means like better food, halls, hire more teachers. So your teacher ratio is lower like gaming, the surveys of whether this job or not. Yeah, discourage graduates from taking public serving low, paying jobs you. Exactly. You want higher paying jobs from your graduates, you want low acceptance rates? So you just want to tell everybody? No, you can't come here and you don't give a lot of student aid out, right? As a result that you've lessened the opportunities for actual applicants. So then you got two Divergent pools of applicants. You've got the applicants who could afford it and like the inflation and college education in this country's bananas. I feel like this was the wrong day for me to wear my Harvard Swatch shirt although I will say it is New England's biggest employers. So you know I'm saying yeah they're all gonna get laid off because they can't afford them if they think. I don't that but the biggest endowment. Okay? Yeah, but they don't spend it on the college. They spend that on lavish Offices. For Larry, some fake meat lab. Grown meat. It's like all Ivy League's. so, it does make me nervous because Any mod any ranking model methodology. Is Kim is fraught in this way, right? Like they you like the thing that we built to measure directors we have we built a bias in. I don't know what it is yet, right? Like sure that that's the thing that makes me nervous about it now. That is nothing to do with not requiring standardized tests. All right. Moving on France. Covering parking lots. So I don't want to like France but Aries math. Checks out three years is less than 2015. Yeah, that's good. I did that like that. I I wrote it down. I used my TI-82 and that's what I came up with. I'm going to vote for that. Yeah, I'm gonna I'll make this quick. I'm absolutely voting for that. I didn't really what I did. Was he for you? Know. No has nothing to do with France. Yes. I I thought maybe he would be one of these sort of one of these promises. One of these pledges and vows that doesn't have quick action. I didn't know really years. Oh yeah, come on. Uh, Jesse get a vote, doesn't matter. It doesn't matter, but I like the standardized tests without the tangent that we went. On other article that was not. Really, I don't know what she just said, but I'm gonna put her initials by the ability side is covering parking. Lots with solar panels, the whole world should take, not even happening in the US, can we know? But everything is very good. Even one of the top, three polluters, come on. This is jobs and all 50 states, people. This is job, and you have to maintain those panels. You have to, you have to scrape the bird crap off of the, that's a job in Arizona. All right, moving on as holy is the week Matthew McCarty. Come on. Yeah. All right, so let's do as holy is the week. Press the whoopee cushion, too. Don't do that, I did it. Um, well, start with honorable mentions, honorable mentions are the metaverse. Um, for this headline, a tiny Pacific island nation threatened by rising sea levels plans to create a digital copy of itself in the medical. I love this headline. I hate everything about this. It's my nightmare, we've destroyed the real world, so let's just duplicate what it used to look like in a fake world. That Mark Zuckerberg creates. That makes me sad Beyond Reason and the second honorable mention is the last five years, because here was the headline. I saw this morning, Dominoes Pizza, investors will be pleased with their solid 118%, return over the last five years. The last five years have been so exhausting that people are willing to buy and eat, Domino's Pizza. Yeah, I I have to admit that. I'm my film is part of that because, actually, dominoes, we found with coupons, is cheaper than frozen pizza from the, our local horrible. That is horrible and not real food. The time I might got sick. Oh, we routinely get sick off of it. It's like one of our guilty pleasures getting sick off of terrible. He calling it ordering out is even like no it is is already wrong. What are your actual story? You're actually honorable mentions? My actual story is number one, Elliott management, Silver Lake, and Scott Galloway was a throwback. Why, why are you bringing them up again? Why haven't you started your activist stake in Tesla? Ooh, like this. So This Is The Three Idiots who took an activist stake in Twitter. Not two years ago, a big loud. One made a big loud stink about it. Wrote letter or every bear they were talking about it. They took a big stake. They wanted to else Dorsey they put in place the chain of events. If not for them, they started the gym of events that right to Elon Musk right now, owning Twitter and it being a shit show, Elon Musk owning them is entirely on them. Elon Musk is the CEO of three companies. He's already said. He doesn't want to be the CEO of any company if he could help it. There are already talking about putting a new CEO in charge of Twitter, but in Tesla, when asked, on the stand about Elon Musk, they talked about at some point, Elon Musk isn't going to be the CEO of Twitter at some point, should be now Twitter. You mean our Tesla, think about what Tesla is Tesla? Has more potential value than Twitter by far it actually makes something people want. Like I want to like a Tesla car and I can't because Elon Musk owns it right now. Like it's just two, never fraught. Sorry Rob. It's time to show. I'm sorry Rob, it's an internal conflict. I love the cars. Should it really sexy? It's a great car. It's, it's a total show of man, gross. It's a total shit show of management. The board is horrific. Like, this is a, this is, it would be an activist Target. If anybody looked at it and said, like, how much value can we unlock and how bad is the board? They have a CEO CEO. Yeah, Matt I also covered on Wednesday that the who defended Elon in court but his enormously horrible pay package and this was the headline under the Wall Street Journal. They called him long-time friend, who was the chair of the compensation committee, that granted, this horrible package, the Wall Street Journal, called him long time, friend of these friends, these are cool friends, friends. Imagine a company in the top 10 of value market cap value in the entire world being run by a couple of buddies and an ego Maniac with no other overseas and his brother and his brother. They got they got they they're recalling every car they've ever made. This is the perfect Target for a bunch of activists like Elliot management and Silver Lake and Scott Galloway. I love the podcast pivot, I do, but why are you on the podcast pivot? Not talking about the fact that Elon Musk shit show at Twitter is your fault? And now, the Tesla, the outcome is all your fault. Why are you not writing the same letter that you wrote about Jack Dorsey, who just wanted to move to Africa? It's all, I mean one wanted to do To what musk can they afford it? This might be silly, but isn't like wicked expensive. Well, you could do it. One of two ways. You either take out a massive stake which they could do, they could buy. The problem is Elon Musk, stake is larger than most of what they can afford. So you have to get a voice or you go with an engine, number one approach, which is a small stake, and a massive board campaign that puts your people in place and outs. Everybody. What are digital investor? Would vote against this. All right, the good news is that it's a lot cheaper than it was. Because since January of this year this share price is already fallen from 400 dollars down to a hundred and seventy seven dollars. So it's a lot easier to be an activist today at Tesla. So that's my number one, you three assholes are the reason we're in this situation in two different places. Wow. Okay, but I don't want to belabor this, but might they be sort of a version of a hero or at least an antihero, because if we lose Twitter, because it's Twitter goes away because of Elon musk's mismanagement, isn't this a net positive for human kind and not positive for Zuckerberg? That's the only nut positive. Oh, really? I think it's more, I think it's more than that. I I don't know. I find Twitter to be just what it is depressing conflict. It's a net positive for the metal band, Mastodon because everybody is confusing, Mastodon The Social Network with Mastodon, the metal band. oh, can I just say the thing about Macedon The Social Network that is genius and on Twitter like is that they, what they don't do is put everybody in the same Arena. There's not, you know, not all the users are listening to the same nonsense and virtual it's broken up into many, many different servers and there's no actual way. A broadcasting, your horrible white nationalist message to 10 billion people all at once. So I just think maybe the Galloway Elliot and silver like a favor by letting musk. Destroy everything know. He's they're not because Trump's gonna get back on and it's going to ruin the election. And can I just say a thing about Mastodon the metal band? Blood Mountain was a great album in 2006. All right, number two, yeah. Narcissists. Oh, no not more musk. Always this isn't musk specific. It's this headline though must make the headline, but it's not actually about him particularly billionaires. Like Elon Musk want to save Civilization by having tons of genetically Superior kids, inside the movement to take control of human evolution, isn't this? What is this? What Nazism is, isn't this is a new word for so I'm sorry. Spider did some actual reporting. I was shocked to read that. It wasn't about a lady whose dog was forced to sit on her lap during a Delta flight. This was like a more embedded report and talked to tell us people talk to Simone and Malcolm Collins to Stanford grads because Stanford, only produces, absolutely insane Liberty and they started a few companies. Yeah, I want to interrupt quickly, the Sam bankman, fried SBF, his two parents, his parents were professors at Stanford, so you might squint. That's where teal went? That's where like everybody. Who's basically insane goes, and Zuck looks like the adult the room compared to them. That's, that's how insane it is. They had started a bunch of like comes and a little startups, they sell them, they sell them, make a lot of money and they are part of the pro-natalist movement, which is now a growing movement inside incredibly wealthy Tech. Types to stop billionaires from having fewer babies these, they're basically saying we need to procreate so that the idiots don't take over the gene pool, right? This is the, this is the plot of Idiocracy, the great satire, the great movie of 2006, they are looking at the sales and saying we are the only hope for Humanity. So we know procreate just just so you know who Humanity's hands are going to be in the Simone and Malcolm Collins have three kids right now and I think they're having another one because they're they're targeting as many as possible. The kids who are going to inherit the Earth currently are named Titan, Invictus thorsten and Octavian. Now if they don't sound like Bond villains now on there will be soon. Yeah but the likes of the the likers of this movement include Peter Thiel, Elon Joe Rogan Marc Andreessen. It's just a who's who of fucking dickhead assholes. Yeah, I mean, in Elon already has what? 10? 11 children 10, sorry. That was that? Yeah. Wow. Wow. Very excited about that. So many people can just move to Mars and like, Have their kids say, right? And like it'll be great if you feel like these people are asshole Lear than they are. Here's a quote from the article, they hope their progeny will quote. Become the new dominant leading classes in the world. Are they already the new dominant leading classes in the world? Are you? What are they gonna become a bigger? A better class. So more richer, like what did they talk about more exclusive? I mean, come on. Oh, just see more exhausted move on and last, the World Cup which starts this weekend on Sunday. The kickoff for the World Cup in Qatar. Qatar here's the headline Cutters. 200 billion dollars. Splurge will be hard to justify when the World Cup ends because she cuts spent 200 billion dollars in leaving people. It and and discriminating against people in order to build the stadiums and the infrastructure for this here are, here's a short list of the biggest sponsors of the World Cup Adidas. A Triple-A ESG rated company who ditched Kanye for wanting to go Defcon on the Jews. And they're still invested in Qatar who basically went deathcon on every slave they could bring in to build the stadiums and deathcon. Yeah. On the on on gay people. The world their their World Cup investor said. Recently the homosexuality is is damaged in the mind. Yeah just well I did read some Uncomfortable news, the country, that is digitizing itself for the metaverse because of climate change two Valu. They have criminalized male homosexuality. Wow, just now No gay men. Lesbians are fine. We get that. We see it in porn. We're okay with that. Wow. Um Coca-Cola, AAA rated Coca-Cola lists, ethical standards as being part of the c-suite purview and they review and audit, those standards less than every three years and somehow they must have skipped an audit. When they decided within the last three years, to sponsor This World Cup, you got Visa who's a rated Hyundai, who's b-rated, which is not great. I think, Qatar, energy, Qatar, Airways and the one to group all of which are wonderful. Unrated, one groups Chinese, the other two are Qatari. The World Cup. Your? I don't know if I'm gonna watch this here, but bunch of assholes asshole. Is there we can. Anyone is strong opinions here? Are you just mouth? Wow to herself. She's feeling the assholes. What you gotta Oh, are you did you see the Budweiser and World Cup news? They were like yeah we'll allow alcoholic sales. I think they said that earlier this week and then this morning they're like just kidding. No not, well, that's not Budweiser's call right? I'm guessing that's the country. Yeah, yeah. I mean honestly, I don't feel that bad for that. Like everybody, there's a lot of like events. I like I hate alcohol supporting events terrible. Well also you're dealing with the government that is not exactly like keen on keeping his word to begin with OR right transparency or any of those things. So whatever what are you voting for? I'm gonna go first and I am going. Oh God. I mean the narcissists man. They're genetically Superior kids that's no, screw you. No way yeah fixtures for sure. I'm with Ari narcissist. Wow that is scary to me. That is very scary. I mean, I I really should agree. I want to say the World Cup, but Let's just call it a clean sweep. I mean, that there, there is basically, that's some Nazis shit there. I mean, let's call it. What it is. That's just It is pretty disturbing. I can't even, I can't even find a humor in. It. It's just disturbing. Just not these wind. Thank you. Matt. Moving on. Jesse, who's already exhausted? We, I don't know. Have we not seen each other in a few months? Because we are going. We were talking a lot today, Jesse exhausting of the week. What you have for us. All right. First headline 42% of religious Americans. Pray for the environment. This is exhausting because yeah, we need a little bit more than prayer but it gets a little worse. So according to a new poll from the Pew Research Center, 80% of religious Americans believe, God entrusted them with protecting the Earth. Which led to the 40 to present of them praying for the environment. But then when they asked for their questions less than half of those surveyed considered the overheating Planet, a very or extremely serious problem. So 80% thing we're entrusted by God to protect it but it's not a serious problem so we'll just pray for it. Everything will work out work. Just to explain this to me, I'm a little dumb with most most things to be fair but it's actually religion. It, is it not? If the world blows up, right? If it gets destroyed, the Earth is destroyed by climate change. Isn't that good? If you're religious, don't doesn't get you to heaven faster. Do they want climate change? You know what I mean? You survive, and you live in hell, because that's the interesting thing is these religious folk will lean on scripture and stuff like that for to justify a lot of things. But then this research goes further and shows that politics are ultimately the most convincing explanation. So, regardless of God and trusting them, you really look into it. It's that the majority of religious folk at least according to the survey are falling under the Republican party, which is saying which is why they're saying that they don't believe that it's very extremely serious. Well, anytime I hear States or most countries where the with the number is in the 40 percentile area in a 42%, I know it's a political problem right? When it's split down, the middle representing, some kind of a cultural War, that's what it means. I love that Liberals are actually worse than Satan. I believe that that's what that survey said. But true. Okay. Okay. And what else is exhausting? You moving on Implement business expenses, okay? This might be. This is the nerdy Jesse. I love you to me, but as an accountant, it seems beyond obvious. You get you go for your trip to get boba tea, or your matcha latte or your poke a bowl. It is not a business expense, just because you're walking side by side with your Biz bestie that you don't get to put that on your corporate card. Right next employees. It's coming out in the bankruptcy hearings that they came to expenses. Through chat, messages, random managers would come on and approve, the expenses through use of emoji. Okay, this is not a lot of plants. So here's the thing. They didn't get a chance to be audited because it blew up before that however they did get a chance to be audited. This type of evidence, this support of a slack message, a screenshot of your slack message being approved by an emoji, does not hold up. It just doesn't so that's exhausting you can't. She might be right. I had to chase people. Down. I had to chase people down for correct support, and let me tell you, this is not it. So, come on, like back to the due diligence thing. I like how excited this is getting her. I mean, this is a true CPA at work. This is real. This is personal. Yeah, he knows that she's, like, jacked up that she jacked up the volume in her mic and she just went crazy because I'm leaning closer. I'm actually, I'm a little nervous to now use my card ever. I don't get a company cards, so don't worry about me. Oh snap, you my previous employer. I had to keep my receipts to a white piece of paper and then it was like oh man forget I don't care. Don't give me my money back. Yeah. Oh quick polls. Anyone here believe that already had a previous employer, anyone? Yeah. I only call it my previous lesson. Yes, he does. Your dominoes. All right, moving on. What else? You got a spot on it because I drew Are you sneezed on it? Next, next headline, number three, newest enabler of greenwashing. Top 27. Oh, so it's this whole thing with carbon markets, there's there are basically allowing misleading accounting, because there's A way that you can double count. So here's the example. Carbon credits are created from a forest conservation project in Zimbabwe and then sold on this un administered Marketplace that gathers all of these for another company or another company or country to buy, right? It's who's gonna clean that Zimbabwe is going to claim it and this company, so then your double counting, right So counting those credits twice Fosters, the illusion that a missions are falling faster than they actually are. Which obviously is greenwashing? So they have not yet come up with a solution in. This is one of the things that they were debating, their debating calling one side of that transaction. A contribution. Instead of a credit. So they're walking a very thin line there on. How that is actually going to be accounted for and if it's going to be transparent or what are the washing where are the environmental accountants? Like why isn't this a thing? Is this can be a good question for you. Where are they is a need for a profession that is around accountants. I've never even seen it advertised on jobs, that a real thing. No, it's a good question. Are you, or we can just double all our targets so that you even forget double counted? Are we just cover our parking lots with solar panels true. So that's upsetting like we have this whole two week thing to try to solve some of these issues and they're not salt, then we walk away. Like what did we get any? Did we get any clearer? That we establish anything. Not so that's pretty exhausting. I like that. The three of you were like realizing that the 27 of these things have been supporting Jesse just supporting her like we've done the same thing, they were 27 years, you've accomplished zero things. What else you got? Just been able to get fired up about them on people. Actually. Listen, this is the first time anyone won ladder for her opinion on a cop. Yeah, right. Just the first time anyone's ever asked you to get. Thank you, thank you. I asked you. Did anybody ask required you required? Okay, so I have a feeling this. Next one's gonna be the favorite. We have basically don't lead the jury. Go ahead. Face reports struggling to give away large sums of money. That's a good one. Those are the great headlines that you're absolutely right. And I'll break this down to make it see me to make it reflect how crazy it. Is not worth his, net worth is still four times that of Scott yet he feels very it, feels hard to give away the large sums in effective ways. Meanwhile, McKenzie has donated upwards of 12 billion dollars Before announcing this two billion dollar donation that she's made over the past seven months. Does he mean? It's hard like, because he doesn't like giving away his money or hard, like, intellectually hard to figure out how to give it away. Both. I'm assuming both is covered in that and then he's clutching his billions. That's, that's his that's his. Yeah. He's clutching it and hiding under the guise of, oh, I don't know how to make quite the impact that I want to make, but Mackenzie has found a way to do it. And she's actually her approach has been deemed unique among her peers because of how she relates to the organization and the diversity of all the causes. She has no more. Guess how about this? How about what doesn't he just? Give it to her? To give away. But why isn't anyone thought of this? I don't I don't know. All right, she's managed to give money to over 465, non profits in. Well just the prior nine months so she's figuring out who and how and all of that do you just copy her list, just mimic her list, just he could do that. Do you want to know how much he's donated throughout his entire life? Yes, two point. Four billion. It. Wait, wait. Whoa. She gave away 3.8 billion in the last nine months. The last Nine months and this announced another two billion. Yes. And to bring her total to about that. He's only giving up Jeff grow up. So, there we are. Wow, yeah, that is what that's what this meant to listen. You know, after she announced issues gonna donate like like just when she just announced about the two billion donation. He came out and announced his commitment to give away. Like I think most of his money like, throughout his life. Yeah, a pledge, he's not doing anything he's playing. He hasn't signed the giving pledge, which is what all the Billionaire's. So what's your vote? You really? Look at the giving pledge is mostly a bunch of white rich, guys. Old Rich guys giving money to The Gates Foundation, like if they just they're just they know each other and they're giving each other's foundations all the money. Yeah. This is, if you need a better case study for why Men, dudes. Look, I'm one of you. I can grow out with the best you we've been in charge for 10,000 years. Give the girls a chance, just give everybody else a chance. Give them 100 years. We'll start with the 100 years. I don't even give them, give them 10 because already also on 50 took, Mackenzie Scott, 20 minutes to to be more effective with their terrible. Just a terrible, it's terrible headline. I mean, but it's like so endemic of like, Oh, I'm a perfectionist white technologist. Male who like you have to appease his ego, right? Like I imagine being a non-profit going and pitching to Jeff Bezos like oh you want to give away your billions. Oh well, we're doing this really good work with inner city. Something or other, or we're doing this amazing malaria work, or whatever it is. And he's like well what's your supply chain look like and what are your Logistics and can we see every dollar and Mackenzie Scott's like the work matters, right? I interject with data. There's a quote I from Mackenzie Scott herself. I need an ask those, I care about what to say to them or what to do for them. I can share what I have with them to stand behind them as they speak and act for themselves. So that's exactly what mattress said. She's not my managing. Can I point out some populist data here? So populous information Jeff Bezos said this while attending the premiere of Amazon's Lord of the Rings which cost the company 715 million dollars to make That's where he had reported this at an event where they made a TV show for just short of a billion dollars. Yeah, you can use all their billions to Lobby Congress to do a billionaire tax. Right? Like, why aren't they doing that good? Too. Who wants to vote on this? Come on. We got to get this show over with a boy. Okay, I'll go first. Go ahead. I'm gonna vote for The Last Story. I just it does seem like the one that's triggering us the most. Yeah, but I, I do want to consider. So the greenwashing one. It's just old hat to me. I guess that's part of exhausting is right? Like, that's right. Don't forget. This is exhausting. Yes. Yes, thank you pasted about it. I'm already asleep just in different to it right? Like I'm dead inside like cop comes up. It used to be like for 10, 15 years at msci. When there was a climate week and cop was involved. We would like prepare all this content. We'd be pretty fun. Yeah, we were doing like research papers and getting new data and like we wanted to like show all this new stuff. We could do all around environmental ordering Dominos Oaks and like 27 we're it's literally like Yeah, I don't know. It's does sound like maybe she should vote for that. Maybe vitamin water and watch more Netflix. Employees, not understanding true business expenses. Actually feels like Like, Jesse's actually angry at us. Well, I can't vote for that. And praying for the environment. I mean, they also pray for like, people not to die of guns, instead of gun control this year, after they get shot after they get shot. They also try to pray the gay away. Yeah. Oh, you're gay. And you shoot someone dead in a desert because there's no more water and they are. This is the trifecta of prey, right? Like we don't we don't have to do anything. We've just we've maximized our prayer, the Bezos one is probably it. Yeah. I'll keep it short. I will say hats off to Jesse for energy and a new term to us, essentially, pray washing. Yeah, I love that but I gotta vote. Yeah, I got triggered. Most by Bezos being a big baby. It's really hard. He said it's really hard. Really, are you gonna vote? I already voted to clean sweep. Let's get out of here. Let's wrap up the show with who won the week. I'm gonna say college applicants on the week so like that. No. Michael Lewis won the week. Yeah, Matt you might be right. I mean that is crazy. That he's been following, he's been following around. SBF Sam bakeman fried for six months, right? Six months, he's been quote, embedded with him. That's a book that even I will read. Like like does it get any? Like the I heard what I heard was that he was planning on writing about effective altruism and how it actually works. And, like, the thinking behind it and like this crazy character, who who's supposed to goal was to make all this money to give it all away. And now he's writing the story of. A guy who basically imploded and had like nerd or Jesus. I mean, there were actually orgies but like the nerd version where you're all playing video games, and you might smooch someone next to you. Like, that's a nerdy. Is when everyone's brains are firing off and everyone. So happy. All right. I like it. That's a virgin. Yeah. There's got to be some making out. Well, Michael Lewis was there for it. Are you kidding me? It's my winner, of course, is ESG, as I pointed out before, but I want a special shout out. Also winner, business pants, corporate theater. We have I'm sorry we had an instant classic ESG, Santa piece this week where the elves The elves up in the North Pole, threatened shareholder, proposals and a proxy contest to wrestle board control away from Santa. If he does not address labor and Animal Welfare issues, I gotta tell you this. If there's ever going to be an ESG Christmas classics. This is it, we've created it. We're gonna figure out a. You gonna hear this every year that this stupid company is in business, this is going to be our Christmas, just run it every Tuesday, it is rest of the year. I I beg of you. If you're a fan of the show to go back to Wednesday and just listen to the Christmas. It's really, it's really funny and smart and really, that's Tuesday hats off to the to the people who wrote and performed. That just I think it's really smart on us. Oh, can we are? Can I ask you are the corporate theater players planning on doing any live shows of some of this theater? Actually it's a it hasn't been brought up before but since you did bring it up now. Maybe how about that for answer? Because I would love to pack a theater and do a small Road show of effectively corporate theater. I feel like that's just threw up in her mouth. It's a possibility. Keep no. Receipts though when you predictions, we can get out of here. I'll go first. After SBF is sent to prison, Larry Fink will officially steal, the acronym and Rebrand it. Super badass think. Oh, that's not a good, that's not good. Oh, okay. I thought that for sure would happen. Yeah, I'm Gonna Keep My Elizabeth home's, five years sentence prediction as my. Anyone else. Yeah, the last prediction here. In the only one that matters is that SBF Adam Neumann and Elon Musk. Will join forces to create the greatest super app of all time. That will drive your car. Rent your office. Pay for everything you own in crypto and then offset it with an nft carbon offset. It will do this all in one app and they will never be indicted for fraud again. Actually, Matt. It's our you, right? They've already have a name. It's called fail up. That's businessman Stephen. Raw is just see. The money was for re the data Queen. I was met Mascari I'm basically a shell of mascardi what to go cough on re for a little while. It's just her worst nightmare. We'll see you next week. Until then, goodbye.