Transcript
Hell. Hey live. That's all I have live from the ESG, deep freeze. It's a musk free Monday edition of business pants. That's true. Is it true for you to I didn't I don't talk about them at all joined as always by our BS correspondent. Matt mcgarty. I'm not Elon or Kimball. Thank God. It's a victory today. It would be nice to have the money though. Well, today's methane leak called November. Oh, December 5th, 2022. Excuse me. Sexy story, updates and sleazy, academic papers. Whoo. We were talking right before the show that the you know, where we cover the anti, woke movement a lot. We did academic papers and research, you know, the nerd alert that you do Matt that used to that's like the old-fashioned version of the anti-walk that you should be the thing that they targeted. They hated researchers? Oh, gee Auntie baby. That was back. When woke was called PC. Yeah, that we were when we were researching things to find things out. Super woke of us. I mean Fans of the anti-woke. How does one get woke without researchers figuring things out? Well, that that's what makes me laugh. Every time is that woke really, is just a metaphor, not even a metaphor to literal. Meaning, the little meaning is just being educated, right? It just knowing me, you're aware. Just, I just Eyes Are Open something. I just learned something new. I get that being aware of the world is exhausting and depressing, but so, why? All right. Yeah. Welcome to the world. Yeah, anyway, It really sucks where people like me, who don't drink, I don't really drink alcohol. So I'm forced to be aware. Smoke a joint higher. All right, let's go. Come on. Sexy story updates. Let's do it. I'm waiting for you. Let's do it. No, I get ah, I missed. You know, the transition. Let's go. Let's go. All right, I broke it into some categories today to help you out. Let's start with Paul ticks and honor of the Georgia Senate runoff, but that tomorrow in honor something, it is tomorrow. They've been voting for many days now. So, it's funny, how we still call it election day? Well, they did find a massive drop in mail-in ballots. After the the anti, what do you call it? Anti-wolf law. That stops people from voting by mail. What is that anti-woke? Yeah, but it wasn't that just because there was a massive surge in mail-in ballots because of the pandemic and the pandemic is Wayne. Yeah, but nobody likes know like that. I'll start with your favorite run DeSantis. This is good though Matt Ron DeSantis is lawyers were forced to admit. They actually know the definition of woke. Oh yeah. So there's a trial going on now challenging to Santa's suspension of a state attorney? So, the state attorneys, this is the guy that the Santa suspended because he said he was not going to prosecute people who who gave doctors who gave abortions, okay? Okay. yeah, so remember that the lawyers for the suspended attorney Asked the lawyers for descendants to Define. Whoa. Because you know, don't forget to say, Santa said that, Florida is the place where woke goes to die. Okay. And I, I'm covering this for you say, that's where woke gets aborted. Oh, okay. Let me say that. I guess I'm not. Okay. So here's how they Define. Well, here's how to synthesis team to find woke. The belief, this is a quote. The belief there are systemic injustices in American society in the need to address them. Wow. All right and then he went on to say that. DeSantis does not believe there are systemic and justices United States. That's it. Matt that's the whole story here. That's it. We That's what he's fighting. He doesn't think they're any Injustice. Is that really none? Injustice know. That's it. I mean, if he did Define woke as Getting educated about a topic that you didn't know that much about before it's really hard to fight against that, right? Like it's hard to like, say like we are anti that but this is something, this is, this is something this is yeah this is I like that it's he defined it as a belief. That there are no systemic Injustice, and then said, he does not have that belief. Like it's like a real like it's like a religion religious Choice. Like, I'm just like you're a Jew or a Christian or a Hindu or something else, but that's what it believed. All right? Just Stamp politics. This is a conversion of some of our favorite things, the woke Wars, and the insipid Airline headlines. Oh, okay. What do you mean, insipid? So, this one's about the, the politics here. It's Chris Christie's, niece, Chris Christie, former governor of New Jersey. Well, ask, anybody, anything? Trump cronies, what she thinks Chris Christie. This is the headlines reporting. The ESG news. Chris Christie's niece bit and kicked deputies trying to escort her off of Spirit Airlines after she asked passengers who she thought were Latino, if they were smuggling cocaine, She bit and kicked deputies. But Matt this is a convergence of all the things you love anti-wolf and the Business Insider Airline, I thought you'd be really pleased. I would have been more pleased if she bit and kicked a dog that was in a bag underneath, the seat for having cocaine in it. I mean, this ties in the beyond meat Story, the guy who bit the other guy knows. I mean, there's just so much material going on here. I didn't America nutshell. Yeah that didn't make that connection. I like that Chris Christie's niece all. And finally in our ESG political news, A record number of women were elected governor in 2020, a total of 12 women. And now look there are only 36 elections. So this means that a third of all those elections resulted in a woman winning the governorship. And I point this out because this is absolutely destroying the corporate world. Yes, that is also correct where they're going at a snail's pace. Yes. In finding women for the boardroom. So and here's a quote from democratic pollster celinda Lake. She said nobody questions, whether they can lead women, nobody questions whether they can lead anymore. Now, how come this isn't happening in the corporate world? Why are they still questioning me? What's the whole body here, the audience seems to be questioning. I want to know the holdup is, I mean, you still, the problem is the board is elected by investors and investors in 90. We did a study of the BlackRock portfolio managers who actually file the votes and they were 80% male and like 92% white, right? So, I, if it's only white men, voting for you to be elected. Now, imagine if this country was like 82% white men, well in some states that seems to be what's outgoing on well, but how many women would get elected? Probably not that many, right? They say things like they're a little too shrill to lead ESG world. I know you're listening. You want to fight back against the anti-esg? Ness, I know you do. Why don't you start here? I don't know why don't you complain use this information fight back against the lack of female leadership in corporation because people will get behind, you know, look there's an apocryphal tale that at one point Adidas or Nike Beyonce was getting pitched like a product and the product team shows up and it's a bunch of white people. Pitching to be on say and Beyonce says, is this the team that would run this initiative and they said, yes and she says, there's not one person that represents Beyond it. I don't know why the ESG Community doesn't walk into every portfolio management team and say is this your team? Because if you're going to do like an inclusive ESG thing, That's not the group to do it, so that's where you should fight. You should be and then tell people you're fighting something because this is how you win, the right about it. To us. We'll tell you. We can tell people, we can tell the story for you if you're too afraid. Yeah, you could be a, you can hide in a closet. We'll do it for you. All right. Let's go to ESG Sports World. oh, And honor. This Is Where It gets weird and honor of the World Cup. Here we go. In honor of I'm just, I'm just trying to pretend, like there was a rationale with how I put this together. I'm just wanted to talk about sports because there's Sports every weekends. I don't need this need to be an honor of anything. I can talk about sports here. Honestly, if anything, all we do is spend our time honoring Sports. I'm gonna do that at the SEC Championship game over the weekend doctor like this headline, Dr. Pepper was forced. To give 100,000 dollar scholarship prize to two students. After after it botched its content. So the contest was throwing footballs into giant soda cans the two contestants they tied in round one, they tied in round two. So instead of allowing a third round tiebreaker, they went back to some obscure rule which counts the points from a qualifying round before the actual event. So that they can award it to one contestant. Right? And just have another round and of course the audience went crazy and started booing them. And then people started yelling about on social media here, some of the quotes, give them both the money. You cheap skates Dr. Pepper pitting two college students against each other National TV. With a tuition prize is so depressing. Every time and another person said, in a proper Society, we wouldn't need Dr. Pepper to fund higher education. So they heard about, you know, an hour of the backlash and then they decided to award them, both 100,000 dollars was one of the contestants, a white man in the other one. A woman of color actually. I think that there were both women of color to be fair. I think. Yes. I was saying, I think I don't actually know. All right, so stupid, this controversy took to give it a little bit of ESG populist math. Dr. Pepper used this opportunity to show off to flex about how great it is but that since 2008 2008, they've given away 13 million dollars in college tuition. Okay, Here's the ESG, populist math, just last year. In the proxy statement. The the the CEO Robert Gambler, who's returning to CEO because the guy that just yet. Yes, because the guy that they just appointed lasted three months and left for code of conduct violation, that the company won't actually tell you why, that guy. Yeah. So the between the two or them, they're total realized. Pay according to msci, was 174 million dollars, that was just last year 174 million dollars. I'm just trying to put it in an ESG populist math context for you. Well, yeah, but they did give 13 million to college students over since 2008. By 13 million, by making them, do some version of the squid Game on live TV against. And then choosing one of them randomly based on Arcane rules of fake game and this is all money. They've recruited for selling sugar water. Oh delicious, delicious terrible. All Right. Moving On. This is a disturbing report out of the New York Times. And their headline was some guy named Dave Ramsey, blasting us universities for promoting online, gambling to students and reaping, millions and fees. so, the New York Times had a piece Reporting on, at least eight universities have partnered with online sports betting companies. Here's some of the examples. Online. Betting companies Caesars sports book, which is part of Caesars Entertainment, which is a publicly traditional company struck a whopping 8.4 million dollar deal with Michigan State, University of Colorado, collects, 30 dollars. Every time one of their students uses the University's, promotional code to download the points, back gambling app and starts betting. How about that one? Wow, not great. And they're more of these stories, I could tell, you know, University of Maryland LSU. But that does it take away here is a is universities getting in on some non and they reason why there's supposedly the New York Times reporting. The Partnerships are helping athletic departments score back. Some lost revenue from the covid-19. Oh it's you know what I've been thinking? Yeah, you know who you know, who really could use some money. Michigan State's football team. I've been thinking it's like I just don't know what they're going to do. Without all the extra, the Caesar's money considering that their current coach of the Michigan State football team. Men's football team makes 9.5 million dollars a year and probably is the highest paid state employee. I'm guessing so just think of it in two years if that guy gave his entire salary to college students, he would have given more than Dr. Pepper has since 2008, How's that for populist? Matt, not as good. Let me use this opportunity to plug our product. I like plugging her product. I really want to does, I went to a random ESG research provider and I looked at the board and the executives at Caesars Entertainment, right? Yeah. We have access to all of the providers too. So I'm not singling out. Anyone where is not one and we have all. Here's what I'm gonna tell you. I couldn't really figure out what was going on, Matt, I didn't really know what. I just looking at the way they presented the data. I don't really understand anything, but when I went to our data, I was able to pinpoint a certain individual Carano who is actually has the most influence and it turns out that the Carano family founded the company that became seized entertainment. So that's trying to tell you is that through our data. I could actually figure out the actual power structure at the company through our data. Yeah, just here, it's the only place you can get it. I'm not kidding. Actually, this is the one moment I'm not kidding, but I know you're not kidding and the audience loves it, and let's and let me back up that Shameless plug. Thank you audience. How many of that people clapping actually are subscribing to our daily hero Point? That's the number, they all stopped and one more, I'm one more, sexy story update. This is from the CEO world. And this is another Shameless plug for our data. The headline is about Amazon could bring back Jeff Bezos just like Disney, right? Oh, really And the article, this is from the street.com. They say, tough times call for great leaders, that's what they say, Matt, but that's not the reality. The reality is reflected in our data and that is that that companies like Amazon, where the the CEO holds only 7% of the influence. There is a absolute vacuum in leadership because Jeff Bezos lurks behind with 68% of the influence. And it is right. It is right for him to sneak back in and take over that, this is nothing to do with great leadership. It has to do with leaders who were incapable of going away and yet still control the boards. That's what is really about the street.com you should reach out to us. We can help make your stories more interesting. The Igor return is being called like, Boomerang CEOs, but it really what it is, is what you said, which is CEO vacuums, helicopter, ceoe, helicopter, CEOs, the creative vacuum of power. They keep all the power for themselves, but puppet in charge. We saw it with Prague and Jack Dorsey and Jack Dorsey manufactured the purchase of Twitter while he was still the chair of the board of Twitter. We saw it with Eiger and in Disney. Now we see it with Amazon and Bezos. Yeah, here. Absolutely. Right. And the coolest thing about our data and I'm again, I'm being genuine for half a second. Is that we have a hit, we have a bit of a history in the state of two. So you can actually see the moment that the leadership transition happened and the influence doesn't change this CEO. Doesn't suddenly have a flex of power. There's no, there's still just nothing a big nothing, just nobody sorry Andy Jesse. We love Andy Jessie and he actually features in my story it's coming up right now. For our what is my new? Absolutely. Written nerd alert of all time. Oh, this is the best one I've ever read. Fair every week you say that it's not it's I would not call this like a super rigorous academic study. Okay. How do you say that? What? But you sound like the anti woke like you don't, what are your criteria for that assessment? Well, let's just say it's a small sample size. It's not, it's, there's research that went into it, but it's not like a peer-reviewed study. It's not like that kind of thing. It's just a different kind of thing. Are you ready for this? Kind of thing, though? Just, you're gonna enjoy this, okay? You deeming is no idea what I've chosen. Here's the paper. The paper is called smells like the American workplace Misfit and perceptions of ostracism in foreign workers, okay? The author of the paper is Sachin Sharma. Matthew alpen, Haus and Sarah Willie, all of whom are from the University of Missouri Saint. Louis And this is the short abstract for you legal. Foreign-born employees are less productive and consider themselves Outsiders as a result of the smells emanating from American offices. Okay, I'm not kidding. I'm with you so far, I'm not kidding about this at all. So it's what they did. It's their, their perception of our smells of their perception of our smells that we smelling more horns. Okay. Employee got it. Love it. And they say in here. So there are 500,000 foreign-born workers in the United States. Every year H1B visas. It was a big deal with the Trump Administration. They were they tried to kill the H-1B visas and a lot of companies use them. Get rid of there's a step. We don't need a smart people here in America. Yeah, I know get rid of the smart people especially if they're not from here. Build the wall against the smart people. The there is, they mention of the paper, The Stereotype that foreign food smells are Considered Terrible by the American palette. They actually cite research about this. Yes, but they found that smell directly or indirectly were the primary cause of lived ostracism of the foreign-born workers in the in the American office spaces. You tell I want to hear more. There are five smell types that offended. The workers could probably guess these. Yeah, go ahead. Go ahead. Give me a guess. Well, I mean I'm just thinking about myself and I yeah I hate people's. I hate people's leftovers. Like yeah food. Just like the microwave nonsense. I of course body odor. Yep. That's number two. You're doing them in order is really impressive. People have heinous Cosmetics like perfume is number three. Well, hello. This is really on that. I'm a little confused Beyond maybe like, cigarettes or weed, or milk is number four. Yeah. Okay. Number five and that I don't know more. I mean what? Yeah, I don't number five. Last one. I can't believe you got an 80% on this random quiz where I had a job before this. I worked in office is like, I know you, you all of my co-workers. The last one is pet smells. Oh yeah, I didn't have to deal with that. We didn't have pets at my pets. Smells that I wouldn't like that. The primary offensive smell was pork. It was, it was straight up pork. Those show that maybe I, because I was an American. I love the smell of baked. And so I probably I'm an offender. Here, you are in a fender. The actually, the second largest source of of smell based ostracism came from this. I'm not kidding. This is what the paper says it says meet based body odor. Yeah, it's like when your Bo smells like meat. I've heard this before. Yeah. I remember hearing this in Europe, that, that there was this perception that Americans. Yeah. This their sweat their smell like they smell like cows. Yeah, yeah. I don't know what that smells like probably because I've lived here but I've heard this before. But this is a tiny study it was based on 22. Structured interviews. Is an awesome little 22. Yeah, very small. Okay. Well, I had to be going for a while, but I still love this, here is, um, the free float addition to this, this is a free float analytics moment. It's a company risk alert. We're gonna turn this into a company risk alert. Do it? Risk alert music? Don't have? Don't we have like a siren somewhere like an alert. Like I've been ready for this. How about this? That's good enough. Risk alert from free. Float Analytics. I found the list of companies with the most H-1B visa. Okay. All right. I'm just playing with the sound. I was just getting ridiculous. I found companies with the most H1B Visa workers in 2022, that information I find. I find information all over the place. That's fine. And I'm gonna give them to you in reverse order, I'm gonna work on way up because you're gonna notice a pattern really quickly here. First of all, I did the top to for six eight, I did the top eight. I just chose her number HCL America, which I'm sure you've never heard of no. Number eight. They guess their CEO, guess what their CEO is nationality wise. Well, you're leading me somewhere because of the H1B, you telling me to guess, and I guessing a white man would be, you wouldn't ask me to guess. So it's your incorrect is the South Asian CEO, right? That's what I'm saying. Like you wouldn't have been a white man, okay, I can see where this is going. By the way. Cap Gemini. Is number seven, don't know. Their CEO is a euro, dude. Oh, France, although I I'm pretty sure he is of Middle Eastern descent. Okay? Number six, Google. Okay, Sundar pichai. South Asian CEO. Yeah. Number five, Microsoft. Yes. In Adela, I like where this is going. No Asian CEO. Yeah, number four, Cognizant Technology Solutions. And you're going to tell me South Asian their last CEO and their longest running One, South Asian CEO. The one is just a guy named like Brian Humphries like a guy. I don't know how we are but we're somehow we're secretly. Brilliant Tata consultancy. Okay. Well that obviously yeah South Asian CEO Infosys and I know for a fact in possess does have we just talked about Infosys South Asian, CEO, South Asian CEO. I am. Now on the number one, seven, I've got through seven of the top eight and of them, six have current or past South, Asian CEOs, and do you have the the data do? Most of these H-1B workers? Do they come from, say India? Or that region a lot. Do come from India but I don't have the data on that, okay? There's a lot, right? Asia. It's mostly Asian sure the number one user of the H1B Visa in 2022. According to this, dataset was Amazon. Oh, that's surprises me. Okay, that would surprise you especially, this is where this is a company risk alert and it's specific to you Amazon. Because my guess is, if you are South Asian CEO, you probably recognize how terrible Americans smell to you. Like we smell terrible period, like objectively, and if you are bringing in lots of foreign-born legal workers into this country, you're probably warning them in advance. Hey, just as an FYI. Yeah, the office is going to stink like if you need to wear a mask for the first few days, you're among friends here. There's a I know I get it. I get it. So I'm sure that they're lived experience. Maybe they can help each other out. Amazon here is a quote, Yeah. From Vanity, Fair article written about Andy jassy at the end of 2019, when he when he was announced his taking the helm, you ready for this quote, the greatest quote I've ever read about. That makes me think of smells ready quote. And everyone. And I mean everyone I spoke to about jassy spent a good portion of the conversation talking about Jesse's Wing eating contests, which he calls to Tonka named after the word buffalo in the movie, Dances with Wolves. Oh my God, this doesn't feel good. The annual competition was Jesse originally hosted at the wing Dome restaurant in the Greenwood neighborhood of Seattle includes Wing referees, where black and white. Striped jerseys to inspect bones for any leftovers and offers a vegetarian segment with celery sticks. Okay. So they the vegetarians can just have the celery. Sure until fashion he created competitions within the competition. One of these is where participants weigh themselves before and after the tournament to see who is gain the most weight during the contest, Rick doll who worked in, Jesse for two decades at Amazon told me that he once watched Jesse so intent upon winning eats so much that he ran out of the room because he was going to vomit. I did wait, this is all associated with his work as an executive at Amazon he was already at Amazon. He was already an executive. So this is why the French are suing that they don't want to have fun at the office. This is what I mean like they don't want to, they don't want to participate in this nonsense. All I'm saying here this is incredible. This is important. Company alert. Yeah. Andy jassy, if you are foreign-born worker H1B Visa, you're excited to work at Amazon, Andy jassy is going to smell terrible and you will feel ostracized as a result that man exalts buffalo sauce. I think what we're all saying here is that in the short term Bezos will probably take over and then he will. And then the succession planning will result in him looking for a South Asian CEO to take that, right? That's coming. It's all coming. That's in order that we only we talked about here. Look at the pattern holds. You need to South Asian CEO. If you're going to get H-1B visas, we are the we are the ESG narrative, princes and princesses. That's who we are. We just yeah, that is not how I would but that's Damien Raul's and I'm Matt. Scotty, we are free float if you like this. Come back tomorrow where we have some corporate theater. Right. We got corporate theater tomorrow. Yeah we should don't. Should we might hope you know we do not have to means I have to actually edit it together. Yeah it's hard work doing your job and then on Wednesday we'll do probably. I gotta woke Wednesday. There's a couple Charleston in the world. Good there's a lot of things happening. So come back. Join us all week until then goodbye.