Business Pants – 2022-12-12

Oh yeah. What the hell is Walcott? That's my kids school that they don't go to because they've got the full ring live, from ESG brain freeze. It's a knot musk free Monday edition of business. I told you I'm low energy. This is what you're gonna do. You gonna bring the musk? Well there's actually a lot more Vivid than musk this week as join us always by BS course. When I'm at Scotty I'm not smelly cheddar more on that later and today's nitrogen leak called the December 12th 2022. 60 story updates and sleazy academic paper's I don't challenge my assumptions. I am I have one that that's gonna make you throw up a little in your mouth. All right, let's get to it. I know you're, you got fluid in. I got a kid in the other room, drinking soup watching Bluey on Disney as usual. Monday is all for, it's all for catching up on things that we cover regularly and no particular order. Like I need some kind of, can we do a particular order? Do you know doing it? Okay, let's let me just start from the top here. Clearly, the business news ESG news, they're already on vacation. I think that this weekend with, we had some fabulous World Cup action. I, I think they're done. Those games were insane because there's nothing going on. I, I usually I don't struggle for hours to put things together. There's nothing going on. They're all done. That's my statement. Which is good for them. They should go on vacation. All right, everyone should yeah. All right. So, do you want a little music here? Yeah. That's not. That much fun. All right. The White House. Oh, Well, the White House lines up against big Tech. In a pivotal Supreme Court case on Section 230. We haven't talked about this in a while plaintiffs in Gonzales versus Google argue that YouTube acts more like a publisher or speaker. When it's selectively, recommends, specific content specific users, the Biden Administration, solicitor general agrees, Matt. It's been a while. You don't see that we haven't talked about section 230 in a while. I mean, this is the thing we've been waiting for right? And the left and the right seemed to align on this issue. No, it's not gonna go away. Okay, what happens now? Okay. So now what happens if section 230 gets demolished? Now, the right have a whole bunch of channels to talk on that. They're very excited about. They go to Twitter where, like, Elon Musk is currently. It's just his vanity project. He currently just he Shadow band. Did you see? He Shadow? Banned the dude who tracks his plane around after tweeting about how Shadows are not right? Like that attention, wait a minute, why but why if the outcome could seriously impact, what content Tech platforms are willing to host, know I'm saying, change the playground to which they play in because if you change section 230 now you don't just hurt the conservatives in America. Don't just hurt the Liberals. Like it's not like now they've got truth social and they got Twitter and then Elon Musk and Donald Trump own the content true. Like they're they're basically Publishers, they're gonna be response rate to be to be liable for for hate speech and they're the places where the hate speech happens, right? But we have moderation and other places, I thought if they destroyed to 30, it makes all these companies a bit more hesitant to what they're willing to put up. No. Oh for sure. And there's no way that like have you seen the content moderation at Twitter? They fired the entire everyone's fired, and they keep or the voluntarily live in. So you're just gonna make true social, and Twitter, go out of business by regulation. All right, and the majors can play this game. I'm gonna bite on your tangent a little bit. I don't get why I'm like, I'm setting you up for a joke, Mr. Free Speech absolutist. Why is he Banning Kanye West, I don't really understand that part. Wait, you don't understand what Elon Musk is doing. I would ban him. I'm not saying that I'm saying. Doesn't that go against everything? Why the hell would you ban this guy? I don't really understand. I don't. This is the short way of saying, I don't understand Elon Musk. That's all you apparently went quote too far. Okay, that makes no sense, but that makes no sense to me. Anyway, let's so you're not as excited about know, after saying he was gonna go Defcon on the Jews. That was your father. That was your way off your way off. All right, 6:30. Know what I think is gonna have, Bolding your Bolding Twitter and Truth social networking. What you're saying is that the left and the right agree on this and what I'm saying is the right no longer agrees, they they now own a lot of channels. They, I'm saying that like the left thinks this is a problem and the right has been waiting for a moment that they can say they have momentum. Now what they're if I were in the right of this country I would say is of course you're going to change section 230 as soon as Elon Twitter and Donald Trump is truth, socials bigger deal and Kanye owns parler this. You know, this is making me think that you might be part of the riding team buying car controls and You're good at like you're good at possible, conspiracy theories, I never think. I'm just saying, I'm just move on. Ah, more to that. Obviously coming up. Next is a piece in the New York Times. I, you know, hey, I gotta say New York Times And The New Yorker during our job for us in very good ways. Both of them, bringing a lot of our story lines into the mainstream. The first is, why is Howard Schultz taking this so personally, right? I mean, why are we the ones bringing our stories to the mainstream? We don't how I really you want to compare. You want to talk about Staffing, compared to the New Yorker in New York Times. Should we talk about punch above our weight? The fact that we cover? No, no, we're stories here, creative team and you ruined that. What do you mean? I ruin that, you know, you know what I mean? All right. Nothing back on it. Howard Schultz. Here's why his his opposite. This is what the New York Times saying his opposition to a union isn't primarily about the bottom line, this thing, it clashes with his image of Starbucks as a model employer. So it's really, it's all ego advantage. And here's why I'm really covering this story is that the I want to talk about the first time he came back to the company, Matt. Oh, this is awesome. Yeah, the first Boomerang. Yeah, this is the he's I think three three boomerangs so far for. Yeah he's our I think there's a in our data set. He's the only triple Boomerang so far. Yeah. And he's only 69 years old. So he could Boomerang like six or seven more times. Probably, I mean at minimum. Yeah. So this is according to the article. He first came back in 2007 because he did not like the smell of burnt cheese Burr. Cheese, is can sometimes have a delicious, is a quote from his book, which which foreshadowed his return. He said, whatever, Rich Hardy coffee Aroma remained in the store was overwhelmed by singed monterey jack mozzarella and most defensively cheddar. Oh, no, Cheddar's the best kind bars. I was concerned, Schultz said, nothing could be further from the romance at the Italian. Espresso Bar could not stand it and that's why he came back and Matt, 14 years later, he came back because, you know, his the workers are beginning to unionize. So it went from burnt. Cheese to workers fighting for their rights. Well, that, that does tell you something, right? Yeah, the two reasons to Boomerang is the CEO are cheese and labor. Yeah, I did a little bit of boring, boring populist, ESG math. And as it turns out this, this the Romance of the Italian Espresso Bar, it turns out that Italy is that the workforce is is almost half union members and in fact in the service sector, 70% of the total work forces, you know. So I don't know what he's smelling. Well I think I think actually the smell of a union actually smells like burnt cheese to him so he probably found all the non-unionized moving on. Oh, here's a little more Elon Musk for you. You know, I'm gonna let you decide because I don't need to spend too much time on this Elon Musk goes after Anthony fauci and former Twitter head of safety UL Roth you. You just referenced that you all Roth, one of the many people that has either quit or left the safety team but maybe I just wanted to help me out a little bit with this because you're more in the know on these conspiracy theories. This is where it all started. He made fun. Of course, he's making fun of two things at once. Here, he's he's mocking. The use of pronouns by saying that his pronouns were prosecuted in fauci. Okay. Did you hear about any of this? I did. I saw the actual tweet senator from Arizona, Mark Kelly. Came back at Elon saying, knock it off. You you dumbass, bully and then Elon Musk came back at that. And said, as for fauci, he lied to Congress and funded gain of function research that killed millions of people not awesome. In my opinion. What is this conspiracy theory? I don't know this one. Do you know this one? Yeah, the NIH funded the lab in Wuhan that created the covid virus. This is what this is what he's fixated on. And they funded it not to create the covid virus but they funded research like that. Ended up creating the like this. This is childish. Oh this seems childish nobody, I don't know. This one just seems like a little bit beyond just a reasonable. He's like a he is a what 55 year old man? Who spends his time? He's the CEO of savory of everything, multi-billion 200 billion, dollars companies. All of which he in various ways. Yeah, who spends most of his time looking at his phone and typing in things like my pronouns are prosecute slash fauci, you don't have something better to do with your time, you have nothing better to do with your time than that. And then spreading a conspiracy theory about where covid may have come from. And that yet fauces, the reason why covid exists that, but more see that guy. But more than that in this, in one, in the same sentence, he's aligning pouch with killing millions of people that even, I mean, yeah. I the reason why I really bring this up is what more information is a Tesla board. Need now like isn't now the time to strike I mean and you know you know what that's pretty egregious know. That's the Egregious thing but keeping a running list of egregious things. Right? Do anything, I guess you're right. But this is just seems like a step too far. I don't know. I I like that everything that you're everything into the Trump trap, right? Which is, which is every time Trump says something more. This is the word. Everyone says, this is the worst it can't. This is gotta be downfall. It never is. It is actually about to get work if it is actually worse, because just as a show when to press, I don't know what that means. I'm gonna say it. There's an article out that Elon Musk is indicating that Twitter's character limit is about to jump from 280 to 4,000. That's like, a 4,000 is like, is what, like, a 15-page essay, right? I mean, that's a lot, that's a lot of words, we're just we're, now we're just blogging on the thing and, and who's gonna read everything. I does anybody that the whole thing just needs to end, and I don't mean end in like a like a good way and in a fiery kind of good news. They had the right man in charge to end this because he seems to be taking in Kimball musk. Like what? Whatever one of the most. All right, moving on. He's got an apple, it's back to Apple. I don't think we covered this story extensively. Mostly because who knows how to cover story is like this. But here's the here's from Apple. This is from The Wall Street Journal, Tony Blevins. Former Apple executive told the Wall Street Journal this week that he spent all night, trying to take down a tick, tock featuring him making a crude comment in September. Now, he was fired for this comment. Matt, he said, I race cars play golf and fondle, big breasted women, but I take weekends and major holidays off. This was something he said, on some tiktok Channel. He spent all night trying to get rid of that. And now he's a few months later. Now, he's still whining and complaining about being fired from Apple about this. I mean, I wanted to take so I don't think we ever covered this one, two things are true. Number one, like you put up in a position where they don't have a choice. But to fire you, you're an executive. There is like easy, easy fire, right? Because because sure there are women who work on like in your, on your team. Oh, and I'm sure just statistically, some of them have big breasts and now like, this is your direction. I didn't even considered. I'm just saying. I'm just saying. So you're, you're immediately Fireball number two. Like I don't know why we would cover this. This is on the scale of like what Uh, what is benign anymore is anything benign anymore? And the scale of Tim cooking on musk? Yeah, I'm saying this is closer to Tim Cook than it is to Elon Musk, isn't it? Yeah. Well, here's either the Wall Street, The Wall Street Journal is interested in this. Maybe they're maybe the big breasted headline, kind of gets more click. I mean, if you wrote that in a headline, what a great headline, like everyone's reading that headline, here's what the wine, the whiny white man, Tony Blevins was saying he said it was 22 years, dissolved in about 25 seconds. I don't get that, I don't get that. So what does that matter? That it took you 25 seconds to say this thing about big breasted? What is that matter? That here's the problem with his math. Okay? He says he takes weekends off. That means five days a week. He actually has been trying to fondle big breasted women and for 25 years, if you just do the math, we're actually talking about a large percentage of his life that he spent dissolving the same life. He's having it doesn't 25 seconds. And here's my favorite part by far, because he's still complaining about this, he's still whining about it. The Wall Street Journal, also reports that he said that he hasn't been replaced. So they don't even replace the role. Matt, that's how important the role was apples. That they don't even need it. I don't, I mean, how important was this guy? They don't even have a new version of him in. They're just like, ah, what was he really doing? I mean, have you seen the guy? Have you have? Yeah, he looks like someone. You wouldn't replace. Know, I'm moving on. We haven't, we haven't talked about this in a long time. This is like, back in the days of Emma, lurking. I can't even believe. It's actually even a headline. I was shocked major car companies, like Ford Tesla and Toyota are at high risk of sourcing Parts made by Chinese forced labor, weaker labor report finds industry wide problem that we your labor back in the headlines. Oh, thank God. I missed it. That's all I got. I don't. The look, we actually got. We had somebody reach out to us about our conversations about. We do leave a very smart person saying like there is a incomplete picture in the General Media about what the weaker labor. Oh everything we do is incomplete and I feel like I don't fully understand it. I feel like they're probably is like a version of there's a version of enslavement everywhere. And I feel like this is Chinese version. So congrats sure enough for hearing the West. yeah, that said Would it surprise anybody if Tesla Volkswagen GM? Ford were all getting metal from like industrial dare you. Here's why I secretly tagged it in the headline that you're right my bad. Here's why I secretly tag, this story is because weaker labor was an excuse, that vimic Vivek Vivek ramaswamy. I got that. Yeah, this is one of the weird. Reasons why he didn't want to talk about the black lives matter movement. He he's like yeah what about the weaker labor? Yeah. It's that for George. Floyd was killed two and a half years ago. This is with. This is the way he was ranting about like, yeah. But do anything about our systemic problems because weaker? So yeah. We'll get to be second. Uh, can we not wall? I know I I feel like this will be one. Hopefully one of the last times because not we have a lot coming. Okay, there's a lot of things to talk about with that Walmart. We've talked about this story, Walmart executives investors actually smart Walmart executives, investigated manager, Andre bing two years before he carried out a mass shooting according to the Wall Street Journal well Walmart is facing lawsuits from employees who allege that management had been warned about being. I don't do we why do we think it? We want Walmart to be policing its employee's potential Mass shooter ISM right. And not have just some dumb rule that says hey people at risk of being Mass Shooters shouldn't get assault rifles. I don't understand we we yell at Walmart for being woke. Now if you're Vivic or you yell at Walmart for not being woke up, what do we want our corporations to do? Do we Also want to place our people, maybe they should build, you know, our roads for us and maybe they should collect our taxes. It does feels like what we expect. I don't expect Walmart to have found this guy. I don't think you're their responsibility. Here's why I bring it up. I won. I'm wondering out loud. Will there be a moment? Will there be a corporate moment? Where the the Right lawsuit affects the right company? That finally gets the bandwagon rolling on like Fanning assault, weapons, blah, blah, blah, like now, okay, we're okay, you know, I want I wonder this because I'm stupid. That's why because there's no one else. No? One else seems to be tackling, it's just not gonna. Unless the nuns against guns actually does something through shareholder activism. It's gonna well, I mean, did you see Louisiana backtracked on its own anti weapons ban so Louisiana? The state treasurer said they wouldn't work with any asset managers who ban the gun sellers or gun manufacturers, right? Yeah. And then, in order to join the current talking points of banning BlackRock for being too woke and banning fossil fuels, they Louisiana switched from BlackRock to a different asset manager that bans guns. So they had to pick their boy. Why, like asset managers? They look at things in terms of risk and money. That's all they do that. And If a client asks him to do something because they're afraid of something they do. So do that thing. They as a managers are spineless, we are estimate managers, not to be. But there are part of a lot of this is that the the very thing that they're crying out about which is that it ESG is hurting profits, the BlackRock is making all these states a shit ton of money. That's the fun. Irony of all of this. Not anymore. They're not. Okay. All right. How about this one men men without college degrees are dropping out of the workforce because they viewed their dead-end jobs as a threat to social status. I don't know what that means. What is what is that? It means that they they're embarrassed of their shity job. So they're quitting altogether. But the dropped they didn't go to college. They didn't go to college. No they're not. They're not adequately trained and and they're embarrassed with the jobs that end up with. So they're dropping out of the workforce, this might actually be the worst news you've ever ridden or read because my this was my horrible segue to the, to the final story which is just some level of male agreement. Yeah. What do they gonna do with all this time? That's what I want to know. Is it like guns to be on employed at home like play Call of Duty and start? There's nothing else to do. Does not that you'll get. Yeah. Don't you get less dates in that mode? I'm pretty sure you do. I don't know. Now, we, we basically, they're like self-selecting in cells. What is that? I don't know. It's scary, it's all scared. Speaking of self-selecting in cells. Let's get to the last story and I'm going to call this. Is this, the official? moment that ESG became mainstream at and that when I'm referring to is a New Yorker article, just released Called called the CEO of anti-woke Incorporated. And they're talking about Vivek ramaswamy, Matt. I'm kind of excited because it most of the, the the nerds the, I'm trying to think of the word the New, I came to think of the word that no, I know, we're not speaking edit this out later. Most of the idiots that I speak to at dinner, party, is read the New Yorker, right? Oh, so the neoliberals whatever. I mean we we also have a subscription to the New Yorker my house. So I'm not, I'm not casting so socialist, right? Yeah, I'm not, I'm not casting disparaging opinions and neither Direction, but, but this is solve a long problem for me and that if people actually spend the time to read this article, they'll finally understand what the hell were talking about. Well, our audience, my expand Beyond four people. Finally, they talk about ESG, they talk about the Business Roundtable, decision on stakeholder cap. They talk about all of it. The woke Wars, what did they explain what ESG sort of is all of it, they do. So they say, yes, she is a data set. That's what that they don't do, okay? So then just Because it look the The Narrative of ESG being basically what, they they're leveraging. A Polarized narrative, which is esg's woke. And then there's the anti-woke and there's just the two, right? Yes. She's not woke and it's not anti-woke. You you can be woke and use ESG data but and you can be anti-walk, you can use ESG data that but that's never described in these articles. So basically, this is a puff piece on ridiculous. Swami it's not. I wouldn't call it a puff piece. Every take a bit of a takedown. Everything for him is good. Press press is press. You get, right first of all, who's reading the New Yorker? Is it like the his investor in Ohio? That's reading the New York. Well, I'll tell you, it's the word that I fabulously started over for about 14 minutes. It's noon Nicks, that's where I was trying to think of like me. I couldn't get out for some reason. All right, let me, I just want to share some of my favorite tidbits from this new takedown from an actual non-business, non-issues and New Yorker talking about this, the same subject that we love to talk about the anti-wolf course, here we go. Some of my favorite tidbits. His mother bibik's mother. Had never heard of Tucker, Carlson or watched Fox News? Fox News before. Before her son started showing up on the network. And she said, I wish he could be on other channels as well. No. No, you can't. I don't know why that made me laugh so much. It's just that she's just lamenting the fact that only Fox News cares about this idiot. I just like that second. This is another one strives second, big biggest events, investor, Bill Ackman. Actually disagrees with Vivek. He said, quote my experience, at least with the companies we know is that being thoughtful with everything from packaging to environmental, considerations is generally something that's good for business. Did spend two hours, giving a presentation about the Ponzi scheme and governance, failures of Herbalife. So anybody who knows something about like labor conditions, which he talked about at length governance conditions like failed governance and and Ponzi schemes probably knows, me as G. Yeah he's so and it's even more proof. That Vivic is is performing. Its absolute performative piece. It's all about the money. It's all about the speaking of which Speaking of performing at Harvard, he also performed Eminem covers, and original, free market themed rep songs Under the alias, Devette. Yes, so he's it's a DJ D Saw movie. And Goldman Sachs is one of the institutions that he's attacked, because remember, it was Goldman Sachs a few years ago. That audaciously wanted at least one woman on a board before they invested in them. Isn't that? Yes yes and if it was very upset about that yeah they audaciously want to at least one woman on a board and every company that Goldman Sachs already invested in complied before they made that announcement. So that was already in the bag. So as it turns out Vivic is doing a salt David Solomon move by having a Alter Ego wrap. Free. Well he's living your fantasy too, because he wanted to do stand-up comedy and okay, I'm that's next. After graduating. Yale law school. He took a stand-up comedy class, so again, this is everybody should do that. Yes, this is just, it's just performative nonsense with Vivek. He said it was traumatizing because he sucked at it. So, I mean, like, I think this is a man with a pathological need for attention. I mean, if you can read another one of your favorite founder ego, the article said that, despite having no experience running a company right after starting, the pharmaceutical investment company called Roy van. He said it would be the Berkshire, Hathaway of drug development. Oh okay. Well that's what were the Berkshire. Hathaway of bored analytics with no experience running a company. No experience and Drug development. That's what he said. It sounds more, like he started the theranos of drug companies, that is what it sound like. Finally, my favorite speaking of Roy vent this I did not know. Three Raven directors resigned. Because what because Vivek was, what, what was he doing? A stand-up comedy. Probably close. It's because he was doing the very thing that Vivica is now targeting that you mentioned the letter campaign, he's targeting seven companies. He was being too political he was going on. Fox News, talking about black lives matter. He was going on talking about the Insurrection and three of his very own directors. Step down immediately because he himself was being too political and now that is the tagline of strive is yeah. Something about not being but political without politics is not defined politics is defined because he's doing it very well. Anyway that's that's all I got. Um, I get, we need to do a long review of this year's news and see how many times a Harvard Yale, or Stanford Alum is ever mentioned in a good light. Can you think of like one story about this? What is it 1%? It's just I I don't know what happening at Harvard or well. You know what? It's all the Harvard is is still, you know, the Princeton was evil. Where is Princeton Harbor is still the largest employer and I will say that it's full of good nerds. It's not just, it's not just it's a lot like published Lee sciency nerd. I'm just saying where are the conversations about the good ones? We just hear, we're not help us out. I have for you today, a very special. Think of five nerd alert pink with the subs. With the subtitle is going to make you throw up in your mouth, which is is Vivek, right? Oh no, speaking of Vivic, here's the paper. I'm gonna be I'm gonna be honest. I'm gonna be honest, I want you this I had to be honest with myself because I actually think Vivic. I actually think that we should try to sell our productivity because I think that our data actually is very apolitical. I think, Believe It or Not, ESG in itself is a political data set. And I think that we, you know, strive is doing a lot of activists campaigns and I think actually he could use our data quite frankly. Well, I did say or in this show that he might be a moron, so just ignore that. Like it's we're, we're that's just us being political. Like the data is a political and excellent. So you should buy it. What he got. Um, here's the paper. It's from 2021. It's called a new. Take on voice the influence of black rocks. Dear CEO letters, right up her alley. It is a bit of an older paper, but I just saw it. It's, and I saw it because I was going through strives investor deck and they cite that BlackRock has influence over these companies and in the footnote it like, it says academics find or something that BlackRock, you know, has influence of these companies and in the footnote it's it didn't say what the paper was and I was like, did they really? Is this a lie. Yeah, I was like you didn't mention you, you put it and then it said like and that black rock doesn't engagement was like the footnote. I was like, what do you even talking about? So I went to go find it and I found this, it's by Andrea Paula check Nicole Skinner and Laura Wellman from their from three different places, a university Colorado, business school, University of Georgia, business school Barbara. Princeton, no, no, not of those. The approach was They checked the language in each of the eight. K's release by three over 3000 companies. Right after BlackRock released their dear CEO level. I love this. This is great. And they isolated companies where they BlackRock owned a big block 5% or more and they just made it a binary, BlackRock owns 5% or more, they controlled for companies where Vanguard and State Street own a lot or own more so that they don't, there's not a Vanguard or State Street influence. They controlled for whether those companies already had similar language, in 8, case and they can control for BlackRock engagements, which is, they went through blackrocks engagement portal and they could see all the companies up. BlackRock was engaging with before the letters and get it, they wanted to see if companies would just read the letter and change their 8K changed their disclosure without black, rocks interference. They ended up finding Over 3,000 or 3500 unique firms, which they counted as 7900. Firm years because they did it over a period of the letters. The result was this is the green Washi finding are you ready for the green, Washington? You finding it is 8. KS filed 30 days after the letter by firms with significant BlackRock ownership Exhibit. Relatively more similar language to the BlackRock letter than those with less BlackRock ownership. Meaning relatively more language meaning if black if BlackRock owns a big stake in you. Yeah. And you have an Engaged with them. You read the letter, you did adopt blackrocks language in your 8K. Okay, the next 8K file which could be proving just AK writers in general are copy and paste, that's probably true. But here's the grease. Palm is a happy poem finding BlackRock then. Is less likely to vote in opposition of management. When firms disclosures are more similar to their own letters. But how was anyone was to know this stuff? How was BlackRock supposed to stay on top of all these thousands of letters? Because they say they don't look at just the 8's, the 8K is end up folding into the 10K. So the authors looked at 10 K's also know. But I mean, how was but, but you're saying that that there's a influence on a potential influence on black rocks, voting pattern because of the positive AKs. What their what their suggesting is that when a company took Cole sale. Copy, pasted took elements of this, dear CEO letters. Put them in official disclosures. Yeah, BlackRock was less likely to vote against those companies management. Then they would on average. So it's like saying so it sounds like a like a lot, like what capitalism is and B. It sounds like a lot. Like what? Vivica and striver trying to do is is influence voting. So here's the Vivic was right angle. Tell me that. Vivek's pissed because he says BlackRock is pushing and ideology onto its companies and BlackRock is by doing these letters. They are influencing the disclosure of those companies that is true right there, listening to their largest shareholder. When they write some flowery rhetoric, Right, that's true. But yeah, this is where I get confused. Because Vivek keeps saying that this is all about the shareholder. This is all about the right, share owners. And so why? Well, I can't Black Rock have an influence know, he's saying, the shareholders are representing individuals who don't want to be political, but the shareholder BlackRock. Yes, a manager is Black Rock was being too political guy, so he's right that whatever. If you disagree with black rocks, sort of CEO letters, Those CEO letters are moving the company to disclose things about now you they did not in this paper. Look at whether the companies were doing things. Sure. Disclosing, similar language afterwards, okay. Yeah, and again and beyond that, the definition of what is too political is in itself, a bunch of horseshit. That's not a, that's a very loose term. Like there's no method at all definition of that, what's political? We still don't know but there is a Vivic does have a point because BlackRock is effectively rewarding the companies with fewer votes against that adopt their language, okay? So like saying it like BlackRock BlackRock, you're saying things, you don't like the companies are adopting it and as language and black rocks language for it. It's but they might be adopting Jewish liberal cycle. Yeah. You're saying. Yeah about this. Here's the Vivica. The dick angle. Oh this One's not that hard. Yeah because the study as I said does not include how the firms performed afterwards. Well we never talked about that. That's no serious known as people whether or not they do we don't talk about Excellence. We need Excellence. Yeah well so here is the Excellence because Vivek, here's an example, Vivint a big win as I mentioned at the Exxon board. So strive wrote a letter Exxon saying that Exxon was being too political and offered to meet with their CEO. Yeah, apparently that meeting may or may not have happened. There's no evidence either way. No one stopped. Like I have notes on it but since then Exxon added, two board members. Larry Kellner, who if you listen to the show for a long time, you know exactly who that is. Yeah, he's a Boeing board member Boeing chair and Boeing chair. Now, John Harris who comes from Raytheon and Vivic went on Fox. Business and publicly claimed credit for putting them there? Sure. Sure. He said that, we that was us putting in like, getting back to oil. Like not that either of those people have any oil like nothing. None zero experience in oil but saying that was us getting a political and focused on Excellence. Here's what Excellence looks like and this is the board saber metric. Shout out. Are you ready? Can I get some board sabermetrics? Shout-out music, maybe do we have anything this? I can give you this. Ooh, I like that. That's good. Larry Kellner has been flagged more than half the time for TSR underperformance as a board member in his career. Wait, don't don't apply that they up there, okay, he underperforms while paying his CEOs throughout his career. The average amount which is been growing. 91% of the time, he pays them between the 75th and 25th percentile of CEO pay. And he was the ex CEO of Continental Airlines which went bankrupt and is still highly connected to the existing Exxon board, Angela Braley, Stephen kandarian, and Michael angelakis are all directly connected through second or third degree to Lawrence Kellner. As in He joins the board, he agrees, with existing board members in opposition to the engine number one activist group. Yeah, and I love really one here, I love how this somehow is still, this is not political because this is the exact same method that they want the left in the US to exercise which is to expand the Supreme Court right to to water down some of the conservative votes. And that's what Vivica is doing. He's wants to expand the Exxon board to water down the votes of people on the left that he finds to political. So he's but this, this isn't politics, right? This is no, he's not all so playing Paul. Also conveniently leaves out the fat that exxon's most profitable quarter in the history of the company ever, all-time ever came with the board. That was Put together by engine number one. Having nothing to do it. Having their most profitable year in the history of the company. And somehow not excellent enough. For Vivic need to add two, highly interconnected board members because John Harris, The Other Board member is connected directly to Ursula Burns and Joseph hooley. So we know through our data board saber metrics data that these are mediocre to underperformance performers throughout their careers on boards. If you want that data, we can give it to you just call us up. We know that they're highly interconnected to the existing Exxon board. Meaning they just vote with management right already. So you didn't do anything. And we know that Vivic is claiming victory for improved Excellence by putting two underperformers on a place that was already outperforming this year. Careful about that. What your, what Your claiming victory for, by the way, right? Because he keeps talking to about long-termism and he's claiming victory for Something. So short-term hasn't even happened yet? Victory for everything. Yeah, honestly, this was a great paper is, you should read the paper because it is interesting to know how black like a company. Just reads the CEO letter and does what BlackRock says? That's cool. I like that. I like, that's cool. I love all the nerd alerts. I love the nerd alerts. Um, but also Vivic that's the word know. Just put a sock in it. You're not the reason. Okay, that's all we got. That's a lot. That was a lot today. Let's be honest. I mean, I haven't been on in like, five days. So we had a lot to talk about. You should hand this out to all of your ESG analysts. They just listen to this. I don't see. This is the best ESG analysis, anywhere, ever that you could cancel. Just, we are free float. If you want more, saber metrics, get in. Touch with us, we will give it to you. In fact. No one has gotten in touch with us yet to get it. Free for the holidays. I said, the first person, we're just gonna give him a free dump, not one person is reached out to like everyone's afraid, don't be afraid. I'm not gonna charge you for it. Just say, can I get a day to dump for the holidays? And I'll say sure you go. You're the first caller. So be the first caller. Otherwise come back tomorrow for corporate theater. Oh yeah, that's right. Yeah. And then on Wednesday we have woke Wednesday and we'll see you all week until later. Goodbye. Up.