Transcript
Wave from Damien's Subway tiled, French bathroom. It's an ESG Monday, Roundup, business pants. You're wondering why Damian's not here? It's because He's a bathroom somewhere. Obviously I'm joined as always by absolutely nobody. And I am full of BS. Yeah, Damien's on vacation, are the data, Queens on vacation, Jesse the Monday, Whispers on vacation, everybody's on vacation, nobody wants to be here. So, it's just me. And just me, says, in today's Argentine celebration called December, 19th 2022. It's an Elan speed round, some tidbits from the weekend and our first taste, just the taste of our Global board Power Rankings from Port saber metrics. If you're wondering what that is, Then you don't listen to this show and how dare you. But let's just get to this because Lord knows I do not want to spend a lot of time on this out of the gate. It's our weekend Elon bowel movement here the headlines, the all Elon headlines in order just from the weekend. First up, Elon Musk responds to a Twitter user saying Jeff Bezos copies. Every business move the billionaire makes Says, maybe it's a coincidence. Apparently that's newsworthy. He responded to something about Jeff Bezos that he didn't. It's just get off a Twitter. Second, Twitter reinstate some accounts of suspended journalists and that after a lot of backlash about suspending, the generalist accountant. The first place and a poll in which he asked people, whether or not he should The next headline, Twitter plans to remove tweets, promoting Rivals, social media platforms. He actually is no longer going to allow you to tweet a link to Facebook Instagram, YouTube, any social media platform. That is a rival of Twitter, said, creators everywhere. And by last, I mean, there's still three more Twitter plans to remove. Oh, I said that one, Elon Musk asked Twitter users if he should replace himself as CEO. Says this in a tweet. He says, I will abide by the result. And then, the last headline is Twitter. Poll results. Elon Musk told to quit as chief executive. Yes, that's right. Elon Musk. Is asked by his Legions of fans on Twitter to quit as the CEO of Twitter. Now, whether or not he actually buys is still unclear last tweets suggested that he doesn't have a suitable. Nobody wants the job. He said he doesn't have a successor, he said, but in other news, Twitter is and always has been pointless and stupid moving on to some actual interesting news. Different idiots featured in them. In dystopian news over the weekend. Here's the headline. The kid adult Market is booming in the toy industry. There was a report suggesting that 14% of the Toy Market is made up of adults. Up 19% in the last year. Here's some examples of what we're talking about. Now, I thought this meant just like when you go out you buy like a Super Mario, you know, doll to put on your bookshelf background for all your Zoom calls, but no. Mattel's American Girl, cafe added more adult, fare, like beet and goat cheese, salads, and Cocktails, and Bloody Marys after seeing adults show up without children, there is a an American Girl doll cafe and B adults go there without any kids. Actually Build A Bear announced that 40% of its total Sarah sales in the last year. Came from adults up from 20% in 2012, build a bear. What are we doing? People speaking of fake things. Here's another headline. The metaverse experience to sway, Real World, Travel choices in 2023. That's out of coin. Telegraph now, coin Telegraph is a crypto Focus publication. They love all and nfte crypto eating things, and they forgot to mention The following line from the survey that they quoted quote. While this sounds exciting, it's not enough to dissuade the majority of Travelers 60% who agree that virtual travel is in his fulfilling as being there in person. No shit virtual travels, not as interesting as going to a place. I'm guessing it was all the kid, adults, who want to Virtual travel with their Build-A-Bears. That would be my guess. In the same kid adults that are probably doing this. Here's the headline enraged worries that generative AI chat GPT Spurs students to vastly cheat when writing essays spawns Spellbound attention for AI ethics and AI law. Apparently. College and high school students are using chat GPT to write papers for them. Just let that sink in imagine, if you could interact with your cliff notes and just ask it to write the paper for you learning was always overrated. Anyway, I mean, didn't we all just get Cliff Notes? I'm a gen xer. Cliff Notes was the thing. Moving on to woke stakeholder news. Growing obesity crisis in the US prompts CDC to expand body mass index charts for severely overweight kids. That's right. with that headline is suggesting is that the CDC is now releasing charts with higher bmis Just to keep up with the children who were off the charts. Which is really bad news since a Friday study released by the consumer reports here. The headline from that 23 of 28, dark chocolate bars tested have high lead cadmium levels. So not only you scoring off the charts, but you you might be full of lead and cadmium. I don't know what cadmium does, but it does not sound good. And other news and other terrible dystopian, stakeholder renews Global coal, use is, on course, to hit all-time high this year. The iea says All right. Let's just do a little quick Backtrack on Cole. There is evidence that the Romans used coal as a primary fuel source in 100 AD. It goes dates back. 10,000 years Humanity has been using coal for really long time but the Romans switched from wood fire to Coal Fire. At that time, when they figured that out, there were an estimated 200 million people on Earth million people on Earth women, married at age of 12 and had 0 economic or legal rights. The earliest version of a vending machine was a released at the time and it actually dispensed. Holy water. You put a coin in and it would shoot some water at you. So you you got blessed by Jesus books were invented right around that Century, actual books, 75% of babies survive, their first year, meaning 25% did not. And in China, they invented the wheelbarrow. And now in 2022, we are using the same exact fuel to stay warm. Are you kidding me? It's been 2000 years. We can't invent something else. I am recording on a computer made of silicon chips, sending it into the atmosphere. I don't even know, I can even explain this technology to a Roman and we're still using the same exact rocks to warm us up and power our houses. That is not only insane but it makes me wonder why this headline came out. Also over the weekend NASA. Cancels climate change. Satellite to monitor greenhouse gases. they maintained their commitment to studying climate change, but they Canceled the satellite to study climate change. And we're using coal at rates. Never seen before we all insane. Is it just a bunch of kid adults in charge? First of all, I think we need to lean deeply into kid adults. I there's I didn't realize that was a thing but now I want to know everything about them. Let's wrap The Weeknd headlines. Yo, rules CEOs rule news. Here's a headline for you. Salesforce CEO says employees hired in pandemic have low productivity and now just in case you're wondering the co-ceo, their, their quoting here is co-ceo number one, Mark Benny off. Who sent slack messages to his HR. Department wondering, why is remote employees aren't working so hard and this comes as it turns out right after co-ceo, number two, might also have not been working that hard because he was distracted as the chair of Twitter. And he was so busy distracted by leaving, because he had 7% influence to Coast CEO number one, 60% board influence. There is no such thing as cos CEOs, there are no Copa hopes. A co-presidents koth the co thing. Doesn't doesn't work so well, there's always one there's there. It's like the Highlander that can only be one. Here's another CEO headline. CEOs who resist? America's growing Union. Waiver making a huge mistake in the war for talent. The companies that they talk about in this article in R Starbucks, apple, Amazon, and chipotle. One thing strikes me about the first three. You need a nation is always been a problem in like retail Industries, like retail restaurant like fast food chains, retail clothes, the lowest level employee tends to want to unionize, but apple, and Amazon are at the Forefront of unionizing at like, programmer level at the non-retail in your face level. It's like the back end people who are very upset about it, too. Hey, Google already experienced this. I'm pretty sure that if you're out there as a CEO saying, unions are a bad thing. It's not working for you. It's not because every place that you say you unions are bad thing, you know, what's happening, unions? Just embrace it just say, hey employees want to unionize, we will work with them to see what we can do and leave it at that. Why I say more. And speaking of saying more, they're a long expose. A came out this weekend. Bob Iger versus Bob chapek inside the Disney Coupe, it's a Wall Street Journal article, it details with some level of granularity the behind the scenes, working of Igor's, Boomerang CEO. And here's some Choice quotes after don't say gay. Quote, one option, they considered day being the board was replacing Mr. Chapek with board member Mark, Parker, a former a long time head of Nike Inc as an interim CEO while the board hunted for a successor. They were about to tap one of their own, a board member. Mark, Parker, who is ex CEO of Nike. To sit as the interim CEO of Disney, and then in June, quote, Disney's board instead renewed, Mr. Chapek's contract through 2024 in a unanimous, vote, two directors, Mr. Parker and Mary, Barra General Motors, CEO had been reluctant to go along. So they renewed chepik, but they were reluctant and the board forced them to as a show of force. They thought, actually bald Bob would feel better about himself if he was unanimous vote, so they wanted to be unanimous. And then later in October board members, quote board, members, Africa's, Amy Chen, Calvin McDonald and Derek a rice. Grilled Mr. Chapek over the, company's poor performance. and that was after they released a staggering 1.7 billion dollar loss in Disney Plus In stead of doing a post-mortem on Disney though, Wall Street Journal. You could have just called us up, because here's a taste from our board Power Rankings. Our board saber metrics this Is breaking news. We know everything. All right, the board members mentioned in this article that got shape of us did included, Susan Arnold the board chair and one of very few board chairs that have more influence than the CEO when there's no founder or family members present as in the board Chair by themselves just being the board chair. They're more, they're more influence inside that boardroom than the CEO does. It doesn't happen very often Arnold had a according to our metrics influence 17.4% influence to chipex 17.1%. Now, might not sound like a massive difference and it's not but the fact is any thing, anytime it's very rare in our data, that we ever see a CEO on the board who doesn't have more influence than every other board member. It just doesn't happen that much. She's also not coincidentally the head of the nominating committee. Along with Mark Parker who is on the nominating committee, Amy Chang on the nominating committee, Derek or rice on the nominating committee and Derek or rice by our metrics. He ranks 7 in the world for Global Power Rankings. Let me explain what that means. Global Power Rankings, take into account, how influential you are on your board. And how influential your friends are on all the boards they sit on. So what we did was every director Has an influence number for the board. They sit on. Say, I sit on a board and I have 10% of that board's influence and there's ten board members. It's great, it's very Democratic board, we all have 10%. Say that company is 100 billion dollar company. That's amazing. I get credited with 10 billion dollars worth of influence. I take my influence number times. The market cap of the board, I sit on. That's great. But the question that we're answering is not just how influential I am or how much power I might own by myself but how powerful my network is. So now I look at any other boards that I sit on and all of my friends in it in two degrees away from me and say let's add in all of my friends power to me. How powerful am I in? Derek arrives on the Disney board? His. His power was 7th in the world and just to give you like a board market. Cap value relativity here. Ron sugar who is currently according to our metrics. The number one, powerful board member in the world. If you've never heard of him, he's on the board of Apple. He's on the board of Amgen, he's on the board of uber, he's the board, he's the guy you've never heard of who's making decisions about all the stuff that you either love or hate. He has the equivalent of 122 trillion dollars in market cap between himself and his friends in power and Derek or Rice relative to Ron sugar. Seventh in the world has the equivalent of 59 trillion dollars of market cap between him and his friends. so, the disgruntled board members at Disney Who were grilling chapek, who wanted him to replace, who came together and very quickly? Voted him out and just brought in Iger They represent a hundred and ninety nine point nine trillion dollars in global board power. He pissed off Chapin managed to piss off the most powerful board members external. Eh. Those are people who have powerful networks, command a tremendous amount of market cap. They are incredibly powerful board members and internally Susan Arnold had more influence and he did the majority of the boards influence was stacked against him. He did not have any Sway and he did it successfully and got himself absolutely shit. That's all I got for today. That's more than enough. We've got some corporate theater. You're going to love it on Wednesday. I'm gonna do a short woke Wednesday and Thursday. Hopefully if anybody's still listening, you're out there. We're gonna have Ari the data Queen and Jesse the money whisperer on. And we are going to do some Really fantastic year. Roundup stuff. Year in review before Damian comes back and we do predictions for next year but that won't be till next year. These are our last few days so enjoy them while they last until then goodbye.