Transcript
Come on. You ready? I was born. Ready. Let's get right into this live from your ESG Hotel. Where the materiality of the pillows is constantly being questioned. Ah, what happened? It's a business pants Friday. Show you stop playing with things over there here at December 5th Studios. Featuring analyst whole, Matt McCarty who's been Vibe coding all night and is turning into a creep. I should add. Ah, I'm real tired. I'm not gonna lie and you told me that it's called Vibe coding. I didn't know it was called five coding, I think I think it's called Vibe called when you use AI to help you coach stuff because you don't know what I do a thing for me and then something appears and you're like, wow, I'm amazing on today's weekly wrap up a company gets Brave. A company gets a one. One single, robot dogs flesh based dogs. And the arrogant prick Rights Movement. Begins arrogant prick. It right does? Yeah, you could write for arrogant Pricks. Our show today is being sponsored by free flow analytics free. Full analyst.com, the only platforming board power connections performance for free. In fact, I love those guys. I have heard on the inside that updates are coming any day now and they're working on like different kinds of new scorecards and all kinds of cool stuff. Yeah, check out, you know what free float has one social media account Do we LinkedIn? Yeah, just the one. I don't know. It seems like one too many. Honestly, it is. It's it's yeah, it's one is the numbers, right? Social media accounts is all less than the number you have plus or minus 0.5. Yeah. And I think they're gonna, they told me they're gonna start pumping out like scorecard images of internal just spamming Out Sports Cards. So, all right, well, at least it's useful and it's based on objective data and all that. I know it's somebody's got to do something objective. Ready for it when you get it story of the week. Yeah, let's just do this thing because we could December. What is this week? December 1st. First, we get a god. I don't know, I don't know what's happening this week. Maybe this is like the last week that Companies and executives are working because there was just so many new I tagged, so many stories this week. It was so many directors coming on leaving their boards. So many weird stories just everything's happening at once. I mean, and then even this morning, A huge even bigger stories happening. Netflix, Netflix, they say, Netflix is gonna buy Warner Brothers, I don't want to 83 billion. That's the gonna start with that one. Let's start with that. Why is every week just us talking about a story that I really don't want to talk about. Well how is that like the way to like to end the week? Here's the Silver Lining here is that Larry Ellison and his nepo. Baby. David Ellison's, son. Over there at Paramount. They must be really angry today, right? They're having a bad day. Yeah. They because supposedly they the New York Post was reporting that they were talking to Trump. Earlier this week making the case against Netflix buying what about how do you even make that cake? What is the case? Well how do you make this case? You're all the same company who cares? Forget the case. Oh, didn't Larry Ellison like lose? Like a whole bunch of net worth. Yeah. Because of his partnership with one of the AI companies, I can. Yeah, the stock like it. So, so maybe should they celebrate? Like, because now he's not worth 300 billion. He's worth 78 billion or whatever. I'm not here to talk about like, consolidation of anything. That's not really where my strengths. Lies. Where does? I don't know? Where is strange. I don't know. But, what do I care who it is? That buys Netflix would seem like, the most powerful Media company. So why would they be the one who does it? Why do we only have like three media companies anymore, isn't it? Like, it's always know. Netflix, Fox and Paramount, like I guess Comcast is NBC but does anybody watch that except for Sunday Night Football? And the Olympics, is there, any other thing on there? I say another big win for the college up, the road from me boating, which is, you know, up here in cold horrible, man, because now they got mom dhoni, who's, who's taking over New York City? Read Hastings is taking over the world, the media, the drug world, media world, yeah, right. So there you go, that's it. That's where the line that's just two of them. It's not all that really matters. Though is like the drugs that we consume in New York City like what people care about anything else. So that's the story. I mean we can move on that's the first big story that we let me just ask you this and then we can get out of that story. Do you think this will happen? Do you think Netflix is actually going to buy one of her brothers? Uh, does price was 83 billion? Yeah, and this is after. So this is expected to close third quarter next year because Netflix is smart here because they're waiting for Warner Bros to get rid of CNN TNT and discovery which I don't blame them. It's like I wouldn't want that either, right? Where would you want cable channels? I mean, were they gonna get rid of that, too? They're gonna spin off. Believe it or not. They're gonna spin off to a separate public company. I mean, this is the meat, the way media always works. It's just a nightmare media. Oh, you know, it's funny. Um, the they basically spent 83 billion dollars for HBO, that's basically what they just yeah. For The Sopranos in The Wire that I mean like which good for them for like a nice thing? Yes. Yeah, I don't know. I don't know what to tell you anymore. It's too much. Too much by a library. All right, that we canceled the HBO, Max subscription or whatever that is and just have Netflix good. Second Story. Which was gonna be the first story but I had this lead with the Netflix Costco. Okay. Matt I know this is gonna shock you but there's actually a company that's like like standing up to Trump. How about this? A headline from CNN. Costco is poking, the Trump bear. So they're saying that big big cup, public companies have been afraid of trump. All during a second term, they've basically, quietly, avoiding conflict, or agreeing with them, or showing up a dinners or, you know, whatever going to lunch. But now cost goes to sue the Trump Administration, contending that Trump overstepped. His emergency Powers by imposing sweeping tariffs and their claiming that they want to refund, they want the money back. I just think look I don't again I don't know legality of all this. I don't know if this is actually a political move or not but I do know this to be the first one to stick a flag into into having headlines that say, Costco is suing Trump. That's a big, that's a big. It's a courageous move in this in this like current Fortune 500 climate, we live in honestly, honestly, this is this flag, like there's two flags. The first flag is that they didn't pass the Tariff costs on to the customers, right? Because if they're suing Trump for the terrorists, I mean, they paid and they swallowed it, they didn't give it to the customers. So it's hurting their business and they're swallowing it, which is what Trump wanted all the businesses to do. They did it because it was right for the customer. Now they're suing trumpets, that's number one, they pay. Number two. They're actually out there saying You're fuking up my business, right? Like and this is not the first time, this is the second time because they did it with Dei know. I mean, they started the Year by sticking a flag into his bloated, you know, misogynist belly by saying no D. Like we're sticking with you because it's great. It's yeah. It's we win. Yes, give it to us. Now, how about this other troll? How about this other troll? That that happened just today? I think just, just an AK file with the SEC, they're bringing on. Not only a person, an official from the Biden Administration, which is already in troll, but it's a woman, the fourth Commerce Secretary, the former governor of Rhode Island. Gino re Mondo. I mean, and, and this is gonna be the greatest, they're gonna complain about this being a Dei higher because in their Universe, this is not merit-based. This is Dei, right? And, and this is a woman who Not only was a road scholar. But again, the governor of Rhode Island and the Commerce Secretary. So again this, she just blows up all of the Dei messages because we're as we're gonna talk about next with AT&T, every time they drop Dei, they always tell you that because now everything's merit-based. And we know what that means, right? We know what they're inferring by saying, that now we're doing merit-based hiring, right? We get it, wink, wink, right? Women are dumb, right? I mean, we get it. Yep. They're only their women. No gays. No. Whoa. That's all the reason why they're there. That's Costco was like, this is a troll of the year, like this news. What? I don't actually, the only thing I don't like about this story is, why is the media covering it like their poking Trump? Are they just doing what everyone should do? Like, how do you know framing it like clickbaiting? Trump is poking. Everyone else. Yes, that's true. Costco is the one who's like, you know what normal, looks like you hire women and people of color and gay people because they're good at their jobs. You hire the X Commerce, Secretary, who's a Rhodes scholar, because she's awesome and qualified for your board. You don't charge tariffs. I agree. Like, it seems like really they're doing, they're not poking the bear, they're fucking doing what they're supposed to. This is not about, it's not just about Trump either, it's about his entire Administration. It's about the entire Republican party, that this is nothing, right? I mean, it's not about one man. I mean, it's just the Senate, the Congress, the Trump Administration in the past week is managed to probably commit war crimes without a war. They have. He fired the architect on the East Wing because he didn't like how big it was gonna be. He wanted to hear that. He just he just fired the like they wanted to go big or and faster like it's everything about. It is like a clown cars. It's a clown car. Well, it costs like you know, you do with clowns. You laugh at them and you sue them. You know what you do? I know, governance threshold the Costco. Is now gonna meet. Now that now that Gina is going to be on the board. They're now 50/50, that's it's half women now officially. So that's that's like a very rare. I don't know how many of the boards we cover that gets especially at this size, get up to that level usually like their They're kind of, I mean, I shouldn't say they're Fringe companies, but there's something like in like where do we see a lot of 50/50 boards we see like in some, some small forms of retail or write a lot like Ulta beauty who's gonna be right? Exactly. Yeah, addicts. Yeah, like Cosmetics was again. So this is another thing that they're, they're just like, just like the Costco troll announcement. But anyway, that's the second story of the week. And then this, and then we get sad again. And, and so, and picking up AT&T commits to drop. D e, i programs and goals, and That's so obvious. We know it's coming so this is what they said 18t does not and will not have any roles focus on. So again this is all part of like Brendan Carr. He's the FCC chair. He's just going after telecommunications come. I guess he's just going under any company that's in his purview right? Like this is his thing. He actually put out a whole things. He announced this on Twitter or X. First of all it's like a government official is using a social media. I'm shot company that is like not even one of the biggest social media companies. So already there, I'm like I don't understand but he actually sights. The FCC chair. He cites. Robbie Starbucks in that announcement like oh yes, it's like I How is any of this serious? I mean, I, they're so proud of themselves. So, 18 c says also saying, That they were, they were moved training related to Dei as well as any references to it from our internal and external messaging. I mean, and here it is. And here's the part is now AT&T's practice to pay in advance individuals, based on Merit and qualifications. So we have to make sure that we we slide that in because remember, it's the white man that have the Merit and a qualified, right? It's not the former governor of Rhode Island, she's not qualified for anything. I just like, I remember. Vividly. Don't say gay as a policy in the Army, right? Like that was a Clinton administration. There's a Clinton administration thing and it wasn't until like, Obama that they basically were like, okay, we can say gay. Like you, we can say gay, you love We the make America great. Again has been don't say anything except white guy, it's don't say anything. It's mostly don't say billionaire, right? Like like you could say you could talk about Billy. Whatever billionaires say is what you can say is kind of where we're at. But how about yeah to remove any references and they didn't say any references period. They said any references from our internal and external messaging like they can't even say to each other diversity. They were. We were moved references to diversity Equity inclusion that we would say to each other. Like if Jerry at the water cooler is like wow. You're you know like there's a diverse set of flags that I saw at the UN when I drove by today. Does he get fired? He should now. It should. Yeah, how about this hats off to Anna Gomez? This not only one Democrat on the, on the FCC board. The I don't know how this only one commission. I don't even know how this is possible. I I but anyway, and a Gomez. She says it perfectly AT&T's reversal isn't a sudden transformation of values, but a strategic Financial plate to Curry favor with this FCC in administration companies. Should remember that abandoning fairness and inclusion for short-term gain will be a stain to their reputation, long into the future. Now, that stain is something that we've been talking about internally is how do we, how do we start to credit or discredit companies and directors, who are part of these things, right? How do we, how can we build in a system? I equated it to like there's the Ohio State football team used to put these stupid stickers on their helmet, whenever they like hit a guy, so hard that he was like, you know, maybe crippled or something like when they did something good. So why can't we develop in our database? Why don't we develop some kind of system where we know The AT&T board made the decision 18 T board. Which includes such luminaries as Marissa mayor right, Mr. Meyer who The former Yahoo CEO is also on the wall. Yeah. So she's a double d e. I disser, right? So anyway I wanted to I want to Credit, Anna Gomez there for that, quote on this move by AT&T. They're one of my assholes of, let's move on the fourth story of the week. Is one from like the ESG pile. Zillow doesn't care. I always like to include a nerdy story that No One's Gonna care about, but me, Zillow doesn't care. If Climate Change destroys your new home, the real estate platform has is now removing climate risk scores from its listings. They're calling this a potentially ruinous development for some buyers. I can't see any reason to do this but I hears what I want to talk about. And I was playing around with free flow analytics and new tool new scorecard tool and Zillow. Zillow is one of these companies, it just angers me, right? So Zillow is lead by Two Bros. I'm shocked, Lloyd Frink and Richard Barton. They control 76% of board, influence, that's a lot. They hold 55% of the voting power, despite actually owning only 12% of companies shares. So do actually, 12% is high for for most of these Bros, he's still, they still pay themselves. They they made a combined 83 million dollars over the past three years. Ah, they have. There are three women on this board. There's a minus 23%. Gender influence Gap, April underwear. Amy buttinsky and Claire, tilke combined, hold 4% of influence. They have no leadership positions on the board. Come on, buttinsky buttinsky doesn't count. Because she's a former, she was a former Zillow executive. She basically worked for the pros. This company is full of Dopey long tenured directors, including Jay Hoag. Yeah, finally, Jay. Oh, getting a shot who serves on the board at Netflix with cocoa founder. Richard Barton, my dad. And remember the shareholders at Netflix, don't know how to get rid of j-hope. They've tried multiple times, they can't get rid of him. Audit committee chair, Greg McPhee who sits on like 17 boards. Oh my God, he's everywhere. He's right retail. All again with Richard Burton. So compensation committee chair j-hope is on a board with one of the founders and so is audit committee chair. Greg McPhee. The whole point is this this company should delete people. I can't we can't do it anymore. We can't have We can't have dual class shares, we can't have dictatorships, it's just it's a joke. It's a joke to the public markets. I mean that j-hope even when he gets voted out, gets kept his his Accomplishments are being on the board of Netflix, TripAdvisor and Peloton. Is anybody talking about TripAdvisor? And Peloton is like major companies. Greg McVeigh was the CEO of TripAdvisor Netflix on the board. He's on the board with Richard Barton. It is a joke that investors keep voting anything but no against anyone on the sport. And I get it. I get it. It's a dual class company. You can't vote them out. Yeah, it's a capitalist company. Every single vote should then be 45% against every single one. This is a, I mean this is really one of the old time boards. This is also a guy, I haven't even mentioned the CEO, but there's but there's also a guy I call him the earnings underperformer Bill Gurley He's back in 94 at Stitch fix and butting 010. 0.01. Oh yeah, next door and he's struggling at Zillow. I mean, the whole thing, I mean zillow's Zillow is earnings, overall are like I don't have the number in front of me. It's, it's low. It's a one. It's like 100, the battery, like 100. I'm over it. Can we vote? 109, 109 and earnings. This is a terrible anyway, that's my fourth third of the week. Why don't you stop and give me your vote? Netflix, buying Warner Brothers, Costco Costco, doing the right thing, they're not poking a bear, they're doing the thing, they should be doing. Everyone should be doing the only company doing AT&T dropping Dei and Zillow doesn't care. I can't do. AT&T, dropping D, E, I simply because everybody else has John Stanky came out and basically said he hates his pregnant employees and he hates. If you didn't, he say, like, like there was a memo, he released that was like, if you're not willing to basically, you know work every day of your life here, including through your, you know, maternity leave, if you need like maternity leave, you should get out what he said. He had some memo that was grossly asked, holy dick, written, right? Like he wrote it actually I think with his penis and then your last story is Zillow, doesn't care. Mostly, your story really is zillow's bored as a shit show. Um, well, Zillow is a shit show. And, and and, and, and investors don't have any say. When the company they invest in is like, you know, dropping like maybe this could be important then but there's no, there's no Avenue into Zillow, it's not a public company, it's a private company. So So you can't like you can't even weigh in on decisions like this, it's hard for me to choose Zillow as the story of the Week. John Stankey. He had the big memo about loyalty. That's lawyer to Loyal. Yeah. Yeah. Loyal to the company. We covered it on this show, and there was some stuff. He said that was just gross and ridiculous. I can't use that one, Dei 18t. I first of all, it's up for asshole a week but mostly the asshole is like this Echo chamber of conservative snowflakes right in car really write car referencing Robby Starbuck, who's referencing like like all the other, all they do is like talk to the to each other and themselves, right? Like they're basically It's it's it's it's like whatever the white male version of Naval gazing is because I mean, this is a guy who like who you know, who went to Georgetown, he's a lawyer. I mean, he was like, what what? I don't even know why he's interested in this fight. I don't even know what he's doing in this territory. But how they even has an opinion about diversity? Inclusion is beyond me. I know that Netflix buying Warner Brothers is a big deal for the media landscape, but I'm choosing Costco. I'm gonna go with Costco. Yeah, I think it's gonna be happy because because like, look, it's rare and more. When we talk about a company that does the right thing as the normal right? Like now we're talking about he's basically doing nothing but the opposite of what they should be doing. Simply they get favor, right? Like because it's a it's a give me favor's government. So I like that caused them is doing the thing. It's supposed to do. Yeah, the main, the mainstream media all. So picked up on the CNN. Did say that that they're just a decision last week to see the Trump Administration. Was Shocking. Because they're the only company there have been some smaller companies also doing it, but they're the only big company like they're that's it. And it's like like and if you were to attack, Costco is one of the few companies that offer an answer to affordability, right? Like you can finally get toothpaste and toilet paper. I mean, even like this is sold at a discount. The gas is sold at a discount. Like it's it's the whole brand is about affordability. So have fun going after cost going to put them out of business. All right, let's move on a good leaders making me angry with stuff. I need to feel good again. I feel good about Costco. I feel good about COs I should lead with Costco. I feel angry that, why are we only talking about one? That's right. I'm like all, I'm like weirdly excited about Costco and then you're right to point out that, it's one, it's one, whereas everybody else, like what they're doing, it's not their standing up. Not saying about moral grounds or basically saying we're not a corrupt company, we're just doing the thing. That is the right thing for our business and our people. But it's not that complicated. Speaking of which and you probably, Won't like my goodies of the week, but it's kind of on the same vein. There was a headline that says there are more billionaires than ever and they have almost 16 trillion dollars in wealth. So I I wanted to highlight, Melinda French Gates, the headline this week is Melinda French Gates, slams, billionaires, who aren't giving away enough of their wealth again, it's like Melinda and Mackenzie. I mean, Elon Musk went on the record this week saying that philanthropy is hard. It's very hard. You know what know who also went on the yeah. This week Jeff Bezos said it was hard. It's difficult. So to your point about Costco, that goes to Mars is not that hard but I can raise really, every time they give and every time they call out others, handing my money to somebody who needs it is hard, that's hard. I hate everybody. Well in the meantime they're like developing their investing heavily into AI into going to space those things. Seem maybe tricky and yet they can't, like just hand off their money. That's difficult to them. That's hard. Yeah, it shows you the mentality of these people. It's really kind of mess. I mean, Bezos. And this is another one of my assholes a week, but Bezos talked about, like it's hard to find, you know, like high leverage or lever. Lever up opportunities for philanthropy. Basically, what he's saying is, you know like when I deploy Capital like Amazon, like every dollar I deploy bring back five in returns, right? When I give a dollar in philanthropy, how do I prove that? It does not turns and it's like sorry, you know, do you give the fucking dollar? Yeah, that's it. You could, you could take your entire fortune and give it to every person in this country who makes below, you know, the poverty line. And they wouldn't make below the poverty line anymore, but this Jeff just do it, start with an easy experiment, you could do it right there in DC area. 5,000 homes and then and then drive by once a week. And look at the lights on and look at you, look at the Christmas trees, like there, there's proof people are living in there. You can look at the smoke coming out of the chimney. There's some proof. All right, my goodly is obviously ironic, it's this is good, I like this, this is fabulous. This is the headline, billionaire. Heads on robot dogs. Pooping photos. Go viral at Major. Miami art, fair. Let's find. That's in Miami too, right? Isn't that where the billionaires like to go now? That is so art basil. Basil is an annual. It's a massive, like art culture or installation in Miami. My wife is bench. He says it's amazing. Somebody took the Beeple is the name of the artist took those little robot dogs. Yeah. And basically calling them skin colored robot dogs. He put wax faces like life like Wax phases of billionaires. On the dogs said a dog heads and make them occasionally poop out pictures Oh pictures. Yeah, a digital picture of what I think they're just they're literally taking a picture of the people there and just interesting like it's just like um but this I saw the pictures of it. First of all. They are heads or a remarkable creepy looking like that really like Zuckerberg and others. This is um people Studios based in Charleston, South Carolina. And watching them walk around, they walk into each other and occasionally they go and poop mode where they like Squat and print out a picture. Yeah, this is the best use of Robotics I've ever seen. The only good use of other other thing going to actual Mars with a Rover and learning stuff about Mars. This is the second best use ever. This is what I want. I would buy that for my house. Yeah, that's what I want those open. What? Like that. like like that life, like Head of Mark, Zuckerberg walking around my floor. That was picking up dust or something. I don't want to say, that's the good list. All right, let's move on. Let's go live. She assholes and I want to move quickly through these because we already touched on half of them. I've got three. Number one, the actually, let's do the ones that we've touched on. First number first, we'll go with merit-based ass kissing and again, and again, you're talking about AT&T. Now, I wanted this has to do with the fact that the FCC chair Brandon car. He's strong, arming these companies right? Because they have deals they want to make right? And they're they're just acquiescing because they want to do these deals. Isn't that right? That is not basically what he's doing, is threatening them and saying that I won't, I'm not gonna allow you to buy this or merge with that, that is correct. That is exactly what he's doing. Um, but here here is like my problem with this. Yeah, AT&T comes out and says there are limiting Dei and it will now be all American Bass. The man, I looked at just the data on the board before we get there. Did they Define merit know? Here's a great opportunity for them to find what the hell we're talking about moment, wouldn't it? Alright, this, this could have been the moment for that, but how about a big list of objective criteria? They're using to Define? Is anyone ever gonna Define merit? What is Merit look like? Is it that? Is it like how many tuna sandwiches you can eat in an hour that could be part of Merit? What is it? What is it? Well, part of what might be Merit, what on the board of AT&T, is the fact that on the board of a AT&T Roughly 40 to 50% of the board members are connected to one another through other boards. Meaning that doesn't like merits like a broke Club. Mary Club at 18 is you know, the other people on the board, that's how you get your job. If in fact, the top according to free flow, analytics data the top knowledge type at on. This board is economics which is useful for phones in what way. Like don't do they still do phones right? Communication Telecom technology. But why how is it that? Like the majority of the board has is basically just backgrounds and economics. It doesn't have to do with anything. If they almost have like a profile of a bank, not, not a telecom company. Their team TSR performance is 482, where 500 is average return for a board controversies is one of the worst. It is 204 as a company. It's one of the worst. John Stankey himself to CEO of 18t is one of the worst performers on Earth at 0.028 meaning. He's he's in the worst. 3% of all people on publicly traded boards for cars. He's facing their companies. This is Merit, should we fire the entire 18t board for hiring based on Merit? This is what drives me nuts about it. Yeah. So it's not Merit. It's just asking stop with the gas lighting. Nobody was buying it. I don't, nobody cares. I mean, I wouldn't be okay with it. But I almost be okay with getting rid of Dei, if you didn't follow up with these horrible, the horrible racist and sexist thought that we're going to be hiring based on Merit. Now, I, I could almost stomach it if you didn't do that, but they always do that. They always just oh, you know what the president's there. Not only is the inference, their hateful. But it's wrong because the women are as we've proved over and over and over and papers on these shows data, they're actually more qualified than the men least on the boards, the press release should just read 18t moving to higher white men. So that branding car and the Trump Administration gives them deals. That's all it should say. Okay. That's what it then. No one's gaslit. We know exactly what's happening. People deal with that how they will that we could just deal with that reality and move on. So they're first second and let's not forget that. A Verizon T-Mobile. They're the third telecommunication company that done this this year, right? That all three of our this year, basically, throw your phone out the fucking window. Because they if you're a brown person or a woman. Yeah. They don't want you to use it. Have it. They don't want to employ you. They're not interested in you at all. Number two, replacing government safety nets with billionaires. Talking about you Dell the Dell donation. So this week, Michael and Susan Dell donated 6.25 billion dollars to fund Trump accounts, right? Like right. The Trump is giving money to kids. He wants his name on everything so that like certain kids like Robin Hood, not all kids and you have to opt in to. So it's not 25 million. Kids was the total amount that they would give to if you opted in for your born and you get in the rules are really not there because nothing, there's something they do random stuff, but no execution that was announced like I also saw Jeff Bezos. And Lauren, Sanchez. Bezos commit 102.5 million to organizations combating homelessness across the US quote, this is just the beginning. You mentioned we mentioned a Melinda French Gates, slamming billionaires we mentioned, Elon Musk saying it was hard in the article about Jeff Bezos. And Lauren Sanchez that Jeff Bezos says it's hard. Here's what Lauren Sanchez had to say. Such a yeah this is a quote from the article quote, there aren't Saint our San Jose Sanchez. Bezos were counted meeting families, benefiting from local organizations to which the Bezos day one family's fund offered Grant's. She met one woman who had been kicked out of her home with her infant daughter but the organization took her in for the night. Gave them a bed with sheets and a locked door quote. It brought tears to my eyes, seeing this little baby and seeing her flourish Sanchez Bezos said, selfishly it fills My Heart Meeting these families it really really does. 102 million is part of a, I think a six billion dollar less than that offering that they've they've made or over an eight year period. Meanwhile he is worth 260 billion dollars. Yeah, I mean while is not he's not like going after the the legislative the legislation that could provide for these families, right? They're not about creating a A social safety net. Like these are that that fight against affordable housing, because they want real estate prices, they don't want to live next to it affordable. Housing complex, they want real estate prices to go up because it's it and yet, then we then I have to read Lauren Sanchez. Talk about bringing tears to her. I seeing see give a woman and a baby who were kicked out one night one night to sleep. Yeah. Like hypocrisy is tough because let's not forget that it was mere month ago that the amount of Executives and billionaires in New York City who were crying. And threatening to leave upset about Mom Donnie, who was all about affordability, you know, the New York City's ruined, they're giving their wedding. Check million dollar checks to prevent it like anything, they could to prevent anyone coming in to create any kind of affordability, guess what? They didn't leave. Not one of them left. In fact, in fact, I just read a story that prices in November jumped. Of course, they actually went up more billionaires and millionaires bought houses in New York City after mum, he was elected. But here's the thing that, here's my problem with it. Here's the like the big asshole trade that everybody's fucking ignoring its that The Trump Administration has gutted all forms of social safety nets. We know that it's covered at the same time billionaires are out there. Giving more money are quote more money than they ever have. Right? Where we're getting announcements about how much money they're giving and we're celebrating the dell and Bezos for giving so much money, there was just a story in the times about how musk has the largest, you know, Foundation. Now with 14 billion dollars in it. And these these billionaires are so philanthropic. The trade has been the government used to give equal access to safety as in. Everybody had an opportunity to partake in the social safety, net of the United States government, as a US citizen. Now. It's only what billionaires decide they want to give you when they decide, they want to give you in the amount. They decide they want to and they get to press releases as well. And they get, they get all the press for it. They are not losing money on this trade because the way that they're making money is there money sits in accounts and a cruise, and they're giving you less than the interest you make on their money. In fact, when you do the math, right? Bezos is worth 265 billion or something like that, that is he's giving 8 billion or 6 billion over eight years. It's less than 3% of his net worth today, which means all he has to do is, make 3% on his money and all he is giving you is interest. He's made right? Do you understand? He's not giving you a lot of money, he's giving you less than the interest he makes on the amount of money he has. Can you imagine if you had 10,000 dollars and you got 3% interest on something, and you decided to give somebody like 30 bucks and you want, you press release it. That's what he's fucking doing. Yeah. Like he's releasing giving you a like a, you know? Four cups of Starbucks. Yeah, for a normal person, these assholes actually nuts. So your second. Wait, so did we already do your first asshole was merit-based ass kissing, that's eight companies like AT&T. You know, doing the proper races. Misogynistic thing for the Trump industry. The second was Placing placing government, safety nets with billionaire women, right? Like that. And now my third ready for third, that's just a singular. Arrogant prick. Yes, and the rise of arrogant Pricks. The ride. I mean, what do you mean the rise you? Yeah, palantir, CEO Alex, karp defends being an, arrogant prick quote and says more CEO should be too. Okay, now the help me out here is that clickbait? Or does that really what's happening? Is he really did this, he really? He said, yeah, he said the deal book conference. He said, in his world near Times steel, were they invited Erika Kirk the new CEO of hell? I don't know. Speaking at any, I have no idea. Like honestly, honestly, I I thought we were, I thought the whole move was like, government are supposed to be kept out of business and that's a business conference to deal with conference. We have literally the most political organization we could find unemployment on stage really the most Divisive, political organization crazy on the planet. At this point, with the exception of maybe the Taliban. Yeah, I know that wasn't your point, but I got a call out the deal book conference for that. But go ahead, but in carp said, arrogance is a necessary survival mechanism for a leader who intends to be right, even when it is unpopular. And again, like, to be this is again, like, this is, this is how these these Tech Bros operate, right? Like, they their statements are said always as facts, right? It's just because we don't, we don't know. We don't know if arrogance is necessary survival mechanism for leaders. We don't, we do know that it's not because the majority, if you just look and I'm talking about on average, because there are getting women too, but if you look at women as a cohort as a massive diverse cohort on average, arrogant doesn't really isn't like a central line that runs through women and yet somehow we survive, Well, we not only do we survived, we Thrive. Women are actually better at survival mechanisms. The other problem too, is that we don't have an updated to study this because there aren't enough women in charge of companies right across the world. And and when they are, they're often like in their, they've come in crisis mode or clean up mode. So, A probably acting like arrogant in that situation might be necessary, I don't know, but they're, they're on a glass Cliff to begin with. Alex karp is viewing the world through the singular lens of building. A business is the only thing that matters in fact he said quote, the only people who pay the price for being wrong in this culture. In complete fashion, our poor people, the rest of us. Somehow Outsource all the times were wrong and stupid to the whole society. He's talking about like when the in the financial crisis, the banks basically fail, the failure gets socialized but the bank you know Executives make still make bonuses and all the money that is correct and he is separating himself from that because of his the way he does business, he's also a full. He's he's really dug deep this year into like a full populist rhetoric where he represents the little guy. He's not a leader would suggest that he should. Where remember he kept saying that like he's He's anti Elite universities, and we pointed out that his, including him, his entire board is either, it's a Stanford or Duke, right? That like, it's all Elites, it's all, it's all Stanford and one, but he's embracing this nonsensical faux populism where he's where he he's fighting for the little guy like this is what he thinks he's doing so there's there's carbs view on arrogance which in and of itself is arrogant and stupid and it's totally misinformed because it's myopically through the lens of business leadership, as some sort of conflation for the way the world needs to run, and the way the world does run, which isn't true at all. But the rise of arrogant Pricks includes now, we're hearing from Sundar pichai at a weekly basis. The quiet Google CEO who's who's trying on like Cassandra as a as a personality type? He's like cosplaying as AI. Kendra now. Well, this he's talking about this group that lunches with Trump all the boys, they they are emboldened even more than ever this year to, to give us their constant stream of Consciousness, which they, which they think are the facts that sort of form our world, right? You pulled the story about Sam almonds. Now, talking about building Rockets because every every fucking as soon as you make a certain amount of money and everybody's listening to you, the first thing you want to do is build a giant penis that pierces the mesosphere like, well I don't understand anything. These aren't even scientists, these aren't these aren't even physicists, so they're not chemists. They're like like like the Rockets are like, it's like Howard Hughes like it's building. Are like it's, it's like a strange like desire of men to somehow like, conquer some physical Beast. That I don't even understand it at all. Like, get the fuck out of the way but Musk Zuckerberg and Bezos everyone. Everyone with the 6,000 to one CEO pay ratio at this point or net worth ratio is pontificating. Yeah, it used to be just Jamie. Dimon says, now, is everybody fucking says, if you got a billionaire just say shit and everyone, oh nice about it. These people, these people make Jamie diamond look like, you know, like Albert Camu. I mean, like, you know, he's like relatively philosophical compared to these dopes. I'm done with these people. The Arrogant enough to think. Anyone should listen to you. Alex karp, show your fucking mouth. No one needs to listen to you. All right, so for you existed the world went on and we did amazing things. After you exist, the world will go on and the things will happen, you don't matter. Well, maybe, I don't know, the last part is to be seen like if if our future continues to be controlled by the arrogance, we don't know everybody. If you know how long, it's everybody. Alex karp still gonna die. And Everyone's going to die and you can't escape it and guess what you don't matter. Like you don't you you really don't, you're gonna play, You're Gonna deflate your ranting. I'm going to vote for as always. So it's arrogant pricking of CEOs, Merit based asking and replacing government safety nets with billionaire Williams Oh this is a tough one. Because I know having the same as they all kind of feel like the same problem here, do they know it? Is a little bit. Yeah, but everything is always the same problems. Basically, men doing like white guys, doing white guys. Shit, I'm gonna notice I'll just go for the easy vote here and I'm looking right at Michael Dell. Oh, because wow, I wouldn't guess that because again, like, you got a giggle in the first place, like that Dell is that is still even relevant and that he made all this money by selling, like, a plastic box that has like a stupid, like, motherboard. I don't even know, like, who cares, but, but to call them, Trump accounts to go on such a nauseating, like, PR run with all this and you're right, what it's all. That's actually doing is replacing social welfare, safety nets, that's all it's doing and to make us and to trick. And what's worse is that they're they're tricking people, they're and they're really the tricking their voters. They're they're they're tricking them into thinking that they care and that they're taking care of them and it's that hypocrisy that is the most nauseating to me. So for Dell Adele's case, there's net worth is 1005 billion dollars, okay? It is index. Net worth is 145 billion. His offer is 4% of his net worth to this, which means I know again a net worth built on on. Twitter. Like forget, they all build it on something different. The point is the amount that they're actually giving is less than the interstate make on their ass. No, I agree with you and I'm saying, it's not like he developed life-saving vaccines or something and number two, if the government had taxed him at a that's another reasonable rate, of course we wouldn't be talking about needing your six billion dollars. No, we talking about having plenty of money to do all the things that you're doing that. You're choosing for us, right? It was the it is and was maybe I'm parenting, Elizabeth Warren here and I think that actually Melinda French Gates mentioned this too. It is the regulatory environment in the United States that allowed you to, gain this wealth, so quickly, and to your point that without any obstacles in your way without without, you know, a Texas system. In place that helps, it helps the social welfare net. You wouldn't have had this wealth in the first place so your benefiting from us regulation to get this. So you're right. Yeah so you should be giving back because you're the ones who are making people poor in the first place. So their estimating that Mackenzie Scott has given 19 billion. So far and she's still a multibillionaire. Do you know how much that is as a percentage of her net worth telling 55 percent of her net worth? And it's hard for these boys, remember the giving pledges, they're giving what percent, and they're giving place, like, at least 99% of your will, what was the giving pledge originally? Yeah, it's to give a substantially all of it like 90, and people like, Elon Musk did sign that, giving pledged and like, but they didn't say when right, this is their lifetime, but, like, move on. I voted. I I'm tired. I'm tired, I'm shutting you down. Let's do headlines. Winners predictions. I think we might actually finish pretty quickly. This week, the Costco of thing. Like we ran did a bit less at the top of the show because Costco has made us like unusually a bit cheaper, but then you kind of brought us back into that. Of course, I always bring us down. You have headlines a minor bit more long-winded. Do you want to go quickly or want me to want me to go first? I have like, I did, I did the assignment this week. You did it right. Pick a headline. Right? Like no other thing. I just had two that I couldn't avoid. So, I'll go first. Yeah. Go first. Zuckerberg basically giving up on metaverse after renaming, entire company meta. Remember he actually, I still don't really understand it. Remember, he renamed his social media Empire, which really is Facebook, Instagram and WhatsApp, right? Yep, it's incredible Monopoly, that the FTC was just looked the other way on there, just like whatever he called. He's weirdly pivoted, to call it meta platforms, which still no one knows what that is, or was intended to be and now he's because remember, the metaverse was all the rage, I remember. Yeah, I was the Raiders. Yeah. But now, he's like scaling back, he's firing everyone. He's not investing anymore. He's giving up. I just thought that was cute. I just think it's funny. I just think Zuck is funny. What do you think? He pivots the name to next? Um, why not just get what get right to it and just call it like, like like the the Commonwealth of soccer or something like that. That's at least Sovereign Nation of Zucker, Stan, or something. Yeah, the other one, that is just galling to me. I had to point out. I just, I can't believe the world we live in speaking of like Market manipulation and blowhard CEOs. And like I just sometimes just the world moves so fast. Now, that it makes my head spin and this is one of the reasons why I'm proud to be involved with this company, even though it's like, are we constantly like pissing into the wind here because we can't even get people to vote for money. Yeah, we can't give people to vote against directors but but, you know, we're trying our best to act as like sort of a watchdog the corporation here, but listen to this headline. Nvidia CFO. And of course it's a woman collect Crest, right? Because it's always gonna be a woman who has a conscience Nvidia CFO admits. The 100 billion dollar open AI Mega deal. The one that basically, I don't know, if you remember basically launched, they call it the biggest AI infrastructure project in history and launched this madness of AI spending and investing and spending the bubble, the stockpile, she admits that the mega deal with open eyes still isn't even signed two months after it helped fuel this amazing AI, right? It's still not official. It's not a real. I mean, just ironing out the details on. I just can't honestly like I I don't understand anything when I read headlines like this, it's really just incredible. Not even signed, not even a real thing, not even and and still I last time I checked are their colonies on Mars has Elon Musk. Are we doing? We have colonies on Mars yet? Not yet. No, not currently, but that for colonies on Mars, just hasn't been signed yet. That's why that's why. What do you played the game correctly this week? Yeah, I played the game correctly. I'm Just gonna read the headline. And I'm just gonna let the headline linger like a fart. Children Saab, as waymo runs over, dog. Waymo being a one of these self-driving cars. No, that's sad. Was it a robot dog? Or was it a flesh? Fleshy know? It was a real dog. It wasn't a robot dog. With a Mark, Zuckerberg billionaire, head your head on it. That would have been better. Look, I'll be honest with you. Like I'm forever. Torn about the self-driving car world because there are two things competing in my head. First of all, like you know, we're you know, America and maybe the rest of the the world. We're getting stupider as time goes on and what? And and I've really noticed since covid that driving drivers really, they're really bad. Yeah, they're bad. They're actually and they're dangerous. I have like like conspiracy theories. That that something about the virus itself, like prepared, like anger in our brain. Yes, part of it. Yeah, well, we're also socially isolated and we're angry everything that's part. I mean, to why in the virus and our phones and like, you know, like Netflix it basically, we don't know how to deal with people anymore. And therefore, if you don't get something like one nanosecond, your beeping, you're running red lights. You like like, you know, signaling because here's the thing. I, the one thing I told my daughter and hats off to my son, who decided not to get a driver's license, because I think that's the right move, like just use your bike or ride the bus or walk. Like we don't, you know, but the one thing I really told my daughter was this It driving is easy, you know, sure there's a learning curve to it all but it's easy. It's just that the other, it's the other drivers you have to worry about, right? Because that's all responding, because you're expecting a certain pattern of driving, but they're not going to give it to you, and that's why it's gonna be a nightmare. Because so, so on the one hand, I self-driving cars, really could actually save a lot of live. Say, a lot of, like, not dog lives, but, but the other hand, it's the people who run the companies that create something. That's the that's what scares me the most. It's like, the Elon musks and the world. So, I'm touring on this whole world. So, You know, I my sense is that if self-driving cars took over we'd have, we'd have fewer dead dogs. Would we not maybe well to that end. There was another story that you pulled yesterday. I think that the story is this is the headline waymo just reprogrammed, its Robo, taxis to drive, less safely. Yes, this is, the problem is that like when you put it in the hands of like corporations and like, arrogant prick, CEOs, and dual-class companies, then then I don't know what the future of self-driving cars is. If it was under control by people like Elizabeth Warren and or people like or like Scholars who lived in Massachusetts, maybe I'd be a little bit more comfortable with it but that's not home. You is a black woman. Okay. Well, there you go. See Yo, a COS CEO. The other is obviously a white guy. He's the male CEO. He's amazing. He's Yeah. Well that yeah let's move on. Who won the week for you? Easy one for me, not even a joke, not even sarcasm, not nothing, even witty here, or I should just say, attempt it being witty, because probably not what he at all. But I'm just gonna go with Costco Oh, that's good. That's right. I mean I mean not only do they are they doing the Trump Administration? But they just, they're hiring a probably one of the smartest women in America to help them with that. Yeah, and it's a holiday season and everybody should shop at Costco. At the board is not 50/50 women. My winner is robot dogs because no robot dogs were killed, by a way. They won't run over and they're pooping their poop. They have plenty of fiber and it's a down that they look a little like, a billionaire but, but I think robot dogs are a big winner. What's your, what's your prediction? My preaching sucks. I'm almost ashamed to admit it, but I'm gonna read it anyway because I don't have time to come up with a better one. So there was a headline and this actually there were two headlines. I was gonna make a story about it but I couldn't figure out how to do it. So both it's the same story Larry Fink and Jamie dimon, you know, originally with all this like crypto, bulshit and Bitcoin originally there, you know, they thought it was nonsense and of course. Now they're just they're gonna get rich off of it. The headline was the I'm looking at Jamie dimon once called Bitcoin a frog, right? Yeah, because again, billionaires pontificating billionaires. They're telling you what's real. And what's not real? Now, JP Morgan is quietly. Making blockchain history and betting this crypto winter will be short-lived the point being that they're they figured out a way to that. They're just want to make money. That's all they ever want to do Larry, think included, once they can make money without losing money, then they're all in, and it doesn't matter what they previously said, it didn't, it didn't, it doesn't even matter if maybe him calling a fraud disrupted other things, it doesn't matter that matters. So based on that, Jamie decides to invest in a volcano volcano, powered Nft mining Farm. I don't even know what that is. I don't remember, nfts was the big thing, so just whenever volcano erupts, it's gonna it's gonna fuel into a farm that creates and I don't know like a Bitcoin mining. He was trying here, mine's a lot simpler up with the volcano was gonna kill a bunch of people going. A lot simpler. Mine is Costco will. Start selling a new kind of robot dog because they actually already sell a robot dog Costco. Yeah Costco does. It's a little furry one. It's for kids really right? Like you pet it I don't go on that but they're going to start selling a new kind of robot dog that has Gina raimondo and He rakes his face on it and it poops out pictures of Howard lutnick so it has two of the, the stronger directors of Costco pooping out. Pictures of the Commerce. Secretary, Howard, lutnick, who's who is getting rich with all of his Enterprises in his son to everything. They they're in on is just like making tons of this rod. That's all, we got that rallies. Come back next week. When we've got more shows, you've got more stuff. In fact, there's a crossover episode happening next week, between shareholder Primacy and business pants, proxy countdown. It is us together with Anne and Mike at Charlton. Privacy to talk about 2026 proxies and what's gonna happen next Tuesday, we've got a guest host. Yeah, because hazelnuts, not here, we have Doug Shaw coming back and I are gonna do some bling games. I'm gonna ask him who to blame him. He's going to give me the answer until then good.