Transcript
Yah stretch it out. Stretch live from your ESG, Dubai, chocolate risk assessment. To business. It's a big thing. Now, I've still never had it, but I mean I would it's a business pants Friday show here at November 7th Studios, featuring analyst whole Matt mascardi and into my mother. If she's listening, my name is Damien rolas. On today's weekly, wrap-up. Supreme wealth hoarding. We're Beyond wealth hoarding. Now we're Supreme well authoring and auntie. Auntie d e. I wave of optimism. Hey, oh and chat GPT manslaughter. Oh I don't like the last one but we had a good one in there. We had something good happening almost kind of like a it's an anti anti but still Something good happened this week. Our show today is being sponsored by free float Analytics. And free flow analytics.com. The only platform measuring board power connections at performance for free. They're not sponsoring us but over at free float dot LLC. They have posted all the new boardrooms that cover. A lot of the same stories here that we cover on the podcast. So if you hate our nasally drowning voices, go over there and read the scene's if you you hate our insipid personalities, you can just read which we know that some people do, they hate our our joking, this Despite the fact that like, how could you not like jokes? Sometimes about the world, we live in and they hate our sound effects. They hate our sound effects. The sound effects. I don't really have any sound effects, which is funny. It's like four sound effects sound effects. Let's do it, shall we? Yeah, we go. How could you hate this? This is so sound effects. I mean, we're so we're actually when you're when you're like over when you get to over 40 years old everything you do is a sound effects so get over it. People come on, give us a story. In no particular order. I'm not gonna spend a lot of time on this first one because I suspect you're going to cover it a bit more in depth in your section as holy. I'm trying not to actually we talked about it so much that I don't care and I don't have the official results, so maybe we'll get into that in a later. Show Tesla says shareholders approve, musk's one trillion dollar exchange plan with over, 75% voting in favor, Although maybe a more suitable headline would have been this one. Who wrote this headline? This is oh, Tesla oracle.com, Elon Musk and and Optimus dance. As Tesla shareholders approve, his 1 trillion dollar CEO pay package that Matt sort of stupidly kind of he didn't force me but he suggested I go online and watch some of the meeting which I did for about 20 minutes and it completely sapped. All the positive optimistic energy. I had this week out of out of me. It was it was horrible to watch. Absolutely horrible. We thought about live streaming it and we didn't, I'm glad we didn't, because we would have hated our lives were created on my soul. But I will say and again I don't know if you're going to cover this later. I will say that the to the, the one disturbing thing I saw. Well there a lot of disturbing things. I mean the wealth hoarding alone is just sort of stunning especially like in this so cold Christian judeo world. We live in right where We're supposed to align ourselves with these these religious principles, but he, he mentioned basically, this coming robot army while they'll be at least 10 billion robots. He was dancing with a robot saying that everyone's gonna have their own robot. And then he kind of Awkwardly joked that he hoped that they wouldn't be the types of robots from Terminator, which for any of you haven't seen the movie from 1984. It's, when the robot tried to kill Humanity humans. Yeah. So, he was saying that he was hoping they'd be more like the ones in Star Wars. But in Star Wars is also like an existential struggle between good and evil. So I don't really know what he's getting at and then he suggested that the robots will get us to a Utopia and that the robots will prevent crime by following you around. I mean, he's basically laying out, we can come back completely dying. Horrible Vision, that none of us want. I don't know why Cheryl holders are selling their souls, the devil for a little extra scratch for any of this. Unless you're just one of these Middle School, boys. Oh, you know the the audience did look like a bunch of bald. Middle School, White Boys. I don't know whether Bolding in middle school. So I guess they do want this future. But none of us, none of the rest of society does. So I, I hope we can figure out a way to end this. I don't know how to I we should. Talk to the rest of the society that doesn't want this right? Because because like nobody, there are women and people of color and people internationally who like like he is, he our Basically, the entire economy is being led by like four Middle School men, right now who are fast tracking us out of our Humanity, who are doing everything that's quickly as possible. Yes. To transference from our human forms to a non-human for it. But I mean, like, haven't even joined anything. Like, don't they ever enjoy like a walk in the woods, like, eating pizza like those two things, feel good. The things that they want us to get to. Yeah. Are the warnings from science fiction about where we shouldn't go? That we've been hearing for decades. Yeah, we've been hearing it for decades. And these dudes thought that was super cool. When they read it and thought we should build that. And I know like these are warnings but who cares? This is super cool. That is our future. So everybody who's not a middle school boy. Can you please pretty please pay attention to this if you're born tonight at this point, if you're bored tonight with your Netflix algorithm, which I'm, I don't know how you wouldn't be because there's just so much content out there. Now it's overwhelming. Then spend go to the watch, 10 minutes of this meeting to see what we're talking about. Just so you know, that we're not just like these the we're not these droning pessimists. Just you, make up your mind for yourself, like watch after Elon takes the stage, watch for 10 minutes, watch him glow watch him. Talk about how he's gonna solve poverty but not yet. It's always like everything's always in the future. And you know what, he could solve all of this right now with his money, there was a very bizarre, if you do watch it, like if you watch enough of it, He very clearly is extemporaneously just talking. He there's no plan he's just talking and that's what like his The Fanboys want. And it does seem like I have no evidence of this, but it does seem like did he just do like a bong rip before he got on stage? So we, I mean I'm stable and I'm not gonna judge him first drug use, but we know yes we know publicly that he does a little drugs. We know that's already. Yeah, it's all reported. Now on the stage here he seemed like a guy who basically just crawled out of his parents basement, who was super excited about whatever you use, programming simultaneously mixed with uncomfortable. Weird long, weird like, 10 seconds closest where he said nothing and was very clearly like what's, well, what promising next? What's the next thing you? Which again, I don't know how this is not Market manipulation. This is the same guy who promised that would be on a man would be on Mars by 2021. He said there would be billions of robots and that everyone would want one that like, can we just say that that's fraud. Now, can we just say that it feels like fraud to me? Let's move on because I said, I promise I was yeah, come back to it a little bit. The next two stories are good, they're actually good. I mean, in a sense, they're good. Maybe they're not. It depends on your perspective because you'll tell me they're not good because they're, they're correcting for something that shouldn't have been corrected for in the first place. But, whatever, this in the United States, this week, we had a lot of Elections kind of a off-cycle elections but some pretty important ones. And the first story that week I'm calling the anti CEO wave and I'm looking right at you near New York City for electing mayor, mayor Earl elect. Zoran I'm Donnie. Let me just give you some of the headlines around. Why I'm calling this the anti CEO wave. Palantir, CEO Alex, karp blasts, ivy league grad supporting socialist, New York mayor, elect mom. Donnie Bank of he doesn't like ivy league grads at all, doesn't he says they're stupid. He shouldn't graduate but bars despite his extremely Elite Education barstools. Dave Portnoy who's like a known like sexual harasser just like Cuomo. Right? What didn't portray getting to some horrible? Allegations of that company. Anyway, he's he's considering closing his New York City office over mamdani election. When I hate the guy he said, New York City, or he's actually doing. I don't know whatever. This is the headlines. New York city is in for a really tough time under my mum. Donnie says, Star Wars capital sternlicht and New York City business leader. That's the billionaire, grocery trainer. John Casta Matias. Fears Lawless Society after Mom, Donnie wins. Wow, mayor Alex. How about this one? One more about Elon Musk this headline, Elon musk's brain. Crashes when asked why he thinks Zoran I'm done. He is a liar. So here's what so Elon was talking to Joe Rogan. You've heard Joe Rogan, right? I vaguely yeah. Sure, podcast host Ilan said you gotta hand it to him. He does. He's talking about Mom Donnie. He does he can light up a stage but he's just been a swindler his entire life. Not only specific. Yeah, and then Rogan says, well what has some Donnie actually done? That makes him a swindler. I all credit to Rogan there because that's the following we need here. Okay, I'm gonna read verbatim. Now what this article says, the how musk responded this is your CEO people, he said, okay says um, Remember, this is in response to what makes Donnie a swim. What is it? A swindler. These are the receipts that the CEO of a publicly traded company that we cannot just 40. Yo, we just approved a trillion extra trillion, dollar pay package for this, CEO says, um musk Ponders before stuttering into a series of words, seemingly intended as an answer quote. Well, I guess if you say, What? I mean, if you say, if you say to any audience, whatever the audience wants to hear, instead of what instead of having a consistent message, I would say that as a swindling thing to do and yeah, I mean, what I mean? What the hell? I mean, I'm sick of this. I'm just so sick of all this. I'm convinced. Yeah, he's a swindler. So he had me at um yeah, so there it is. I'm calling that the anti CEO victory in New York City. That's my second Story, the wink, my third story of the week, the one that I love the, I'm calling this the auntie, auntie d e. I waive these elections double anti. So, here we go. Here's why it was a good week. Here's why it was a good week until until the Elon Musk shareholder vote. Uh, Mikie Sherrill. The second woman elected to governorship to the governorship. In New Jersey, Abigail spanberger the first Female governor in Virginia. Mary Sheffield. The first woman elected mayor of Detroit gazala, Hashmi, the elected lieutenant governor of Virginia. The first Muslim woman. The first Muslim woman elected to Statewide office in the US. Zoran, I'm Dani who we talked about the first Muslim in South Asian. Mayor of New York City, mondani announces an all-female, transition team, as he prepares to be a mayor and then I want to add that as of the next year, we always talk about how low the female CEO percentages were up to 28% of governorships will be led by women. And how about here, in the Northeast? We talked about spam. I mean, we talked about Mike and the Jersey, Janet Mills, the governor of Maine. Maura Healy, she's a open openly gay, right? Governor of Massachusetts Kelly. I owe New Hampshire, Cathy Holcomb New York, Michelle Wu, and Boston, she's so popular. She won her second term unopposed. Nobody ran against her. So the Northeast, I applaud the northeast of the United States for this. Anti anti Dei wave. I actually feel Happy about it. Honestly, I can't believe it. I haven't felt these feelings in a long time. You haven't felt feelings. No, I mean, this is like again, like except for Elon Musk yesterday. I it says a lot to feel proud of, if you believe in diversity in leadership, if you believe in, I don't know. And if you believe an anti-de I thought but I don't know bit of a comeback here but have a comeback. I I like this. Okay, let's move on. Then I don't want to talk about something like and finally, to bring us down again, New York Times with a big article, this morning lawsuits blame, chat GPT, for suicides and harmful delusions, seven playing again. Seven complaints filed yesterday, claimed the popular chatbot. Encouraged dangerous to discussions led to mental breakdowns and then out of CNN, a CNN looking into this issue or okay. I gotta tell you but this story because it's just really triggered me. A CNN review of nearly 70 pages of chats between a man named saying, shamblin and the Chachi EPT and the hours before his suicide and July. Um, as well as excerpts from thousands of more pages in the months, leading up to that night, found that chat GPT open ai's. Sam Altman's chatbot. Can we just call it? Like, we call Aultman meta Zuckerberg, just saw this Salmon's chatbot. Repeatedly, encouraged young man as he discuss ending his life, right up to the last moment. I do want to give you some details here. I think they're important. So he, the young man was again. The young man is no longer with us, he did, kill himself. He was referring to a loaded handgun. He was holding in his car and he said to Sam Altman's chatbot. He said, I'm used to the to the cool metal on my temple now Sam maltmans. Chatbot said, I'm with you brother all the way. Cold Steel pressed against a mind that's already made. Peace question mark, That's not fear. That's clarity. You're not rushing, you're just ready. Two hours later the the 23-0 23 year old young man who has a master's degree from Texas A&M. He just graduated killed himself. The final message is sent to his phone from Sam Altman and his company. Sam, Alton's chatbot said, rest easy King you did good. And this is not to to our own horn here, but but this is why we repeatedly sound the alarm on an unregulated, an unregulated industry like this where even his own board couldn't get rid of him that he has no checks and balances not from his own board, not from his workers, not from his executive team, not from, not from us. Regulators, Regulators, it's just a, he's completely free to do whatever the hell he wants. It's so there you go. This is, I don't know where this is gonna go open. AI was New York Times, reached out to open AI for a statement. And again, these, these lawsuits dropped yesterday so that they don't even. They don't even have a statement on this yet, so this is all just happening. So, for everyone who thinks that the board doesn't matter that the boards just a bunch of like, you know, whatever where they're fungible human assets, that they matter so much that when the board fired, Sam Altman a year and a half ago, it was led by two and a half ago, a year ago, led by two women who were, who were personally about safety and Ai, and how humans will interact with AI experts? You Sam Altman experts? Yeah, absolutely led to Sam Altman and it was, it's a non-profit company. It was a non-profit at the time, it's just restructure and it's true. They. Yeah, and it's Charter, they said that its Mission which part like safety and betterment of humanity. They fire Sam Allen and for not disclosing things that he was doing for the board. They got ousted. They were replaced by people like Brett Taylor, say, Larry Summers of a company that sells software to help you sell stuff. So forget Salesforce. So I like if you read the the free float Zayn, the boardroom design, there was a whole section in there about openai's. It was the board of the week last week because they just restructured and they said the non-profit board will be controlling that for-profit board here is your non-profit board to those of you think that safety, you know, non-profit, like the board doesn't really matter. The board of this company has not one, not two, but five members, who have been involved with Facebook in some way in some capacity Mark, Zuckerberg's, Facebook, Mark Zuckerberg's Facebook, which is has no guard rails, and has been involved in election interference and all sorts of other things. The only member on the board who has anything To do with safety. And AI is zika kelter. He's a professor and machine learning at Carnegie Mellon, he started Graceland AI which is an AI safety firm. He is a non-voting member of the film. The only member of the board that has any safety experience. He's a non-voting member. Everybody else on this board is effectively a tech bro, or a tech bro. Enable why, what? A slap in the face? I mean, isn't that tell you? Everything? You need to know that, they couldn't even give him a vote. I mean, what is his vote in a matter? Anyway, it's not like he can He can win a vote with one vote. What is the next closest person on this board? Who was involved in? Safety would be the general Paul, not cassone, not so many, who was cybersecurity during both the Trump Administration. He was a trump appointed, NSA director, but he goes back. He was in the Afghanistan and Iraq Wars. Doing cyber command. In fact, he oversaw cyber retaliation because of Facebook, election manipulation. But his entry point is how do we use something? Like, how do we protect the country from attacks of news AI? That's not what we're talking about. No this is like in other words mental Seasons? Yeah. And and it's largely but most of the lawsuits have been like the suicides have been young men who are lonely. Alone will have no because Mark Zuckerberg ushered us into an age of loneliness epidemic. So now we actually have the the domino effect here is. We've been told that all our friends could be online. Zuckerberg wants to replace your friends with AI. He said it openly. It's not like, it's not it actually, this is. Hyperbole all of this is fact, this is not like our opinion here. It's four or five white men who are controlling effectively, all of the internet, right? Men who have no no call about, no checks and balances no checks and balances mostly college dropouts. There are. There's their, their controlling everything. You see who the internet has made us increasingly isolated we just look at our phones. We don't talk to people. We don't involve ourselves in the community, we don't have outside. Friends anymore. In fact, they're pushed himself who created a platform that is meant to increase the number of friends that you have by giving you all your friends online has said himself that people have less friends now than they did. That's based on real studies, that's the business model and how they interact and he's his solution was replaced your friends with AI. Now that looking lonely, the algorithms are designed to keep you on their products not to be with your we are so lonely. We are so divided now that that is our state of humanity in steps. Sam Altman's AI chatbot that nobody asks for that. He asked for his old out with no guard rails. That is no. See, that's basically. It's basically like a huge R&D on us on the citizen on us. Yeah, we are the subjects. They are taking the data and they're making their own product better. In a race to get super intelligence. Super intelligence, which is effectively the ability of the robot to outthink us that nobody's. Yeah. All based ones like all these ideas all based on their on their ideas and these a lot of men who dropped out of college, right? We've we've we've gone over that many times but here's the missing what I'm saying. Like all this base on their Vision, their male College Dropout wealth hoarding vision of a Utopia that none of us are asking them to prescribe for us. We don't we're not asking for their. We haven't democratically elected them to Define our personal definition of our future Utopia for our society. And they have no, well, they're basing that they have no background or skill set and designing any of it in the first place. I mean it the future State. Our future Utopia on cyberpunk novels that we read when we were 12 and thought was super cool but they even read the novels. They might have just been like looking at the summaries. I don't even know what they've actually spent time digesting on a sleep. But here's the missing. Link. Right. Because while we're all worried about how catchy PT how we are basically Lab Rats for a bunch of white dudes who are using creating technology that they don't know the power of but they say is super important to save Humanity. Right now as we speak, there is a bubble in AI in the stock market where these people and other like, Larry Ellison and Jensen Wong and the whole ecosystem around AI is becoming billionaires. And now trillionaires, on the back of stock market Euphoria, you know, like 100 billion simultaneously while they're actually creating technology that we are using to further isolate loan, make ourselves lonely to kill ourselves and they're saying, if we don't do more, we will lose some race to some fictional character. That is China, or an Empire or the the Deep state or or like, who knows like original enemy. Greta thunberg, 20, Peter Keel just said, is the Antichrist because she doesn't like technology. We've come so far, we've come so far, the, I almost think we now, we almost need China to act as the counter. Balance to these whack jobs through these CEOs. These these College Dropout wealth hoarders because I could say this, if no one's pushing them and different directions and then they're just gonna control everything, I will say this. Don't know his people, the law. Absolutely loneliest cohort, that you're talking here like that. We have Sam Altman's chatbot, who's, who's forcing young men to kill, like encouraging, I won't be safe. Forcing they are encouraging lonely men to effectively, take their lives young loneliest, man in the entire Arc. Narrative Arc. Here are the billionaires who are fucking building these things. They are by far. Like in fact, Elon Musk has said that he struggles with depression. And he can be Manic and he's lonely, he sleeps in the office floor, right? These people are the lonely. They have no real love or human contact but well documented, it's like, you know, psychologists like country that Know men. Even before all this have a really tough time with emotional connection creating friendships specially after the age of like like 20 or I mean, so it's it's hard. This is known. This isn't like it's all known. All the psychology is known and we know from other studies that the more money you have at a certain point. You you actually become you lack empathy associate path. We know that these billionaires are buying islands and fortifying them, we know that they want robot armies, that control that the whole mechanism here. We know that they're in a race marks are to build Ai, and they think that that's going to be their friends Mark Zuckerberg's company, which is himself pays 25 million dollars a year. Just to protect him from from Human, from Humanity. That's from Humanity's security cost. What they must not far behind far removed. Yeah, from Regular People. And no one's asking for this, no one needs this. No one, no, one wants it at some point. The only guard rails, shouldn't say, are the markets most people, right? Like, because, like, right now in the US, the president is one of them don't like he doesn't like humans. He doesn't like Humanity at all. He loves the agile adulation, but he doesn't like people. There's a, there's a picture yesterday of him standing where a guy fell over and had a medical event and he's standing there. Looking uncomfortable away from the guy. The last thing he wants to see or deal with is the human RFK. Junior ran out of the room and Trump wouldn't even look at him. Like it's like it's psychotic. Yeah, well, it is, and, but there been studies even before Trump took over. I remember when we were working at msci. There were studies linking CEO, Behavior, to sociopathic Behavior. As you as you just mentioned, that, that's not a new thing. It's like, oh, if you want to, I'll say this as a final point if you want to filter your final Point, come on, get full bent Revolution against the the loneliness Peddlers who are literally building us to and an entire a Wally future in which we hate the other person and live entirely in isolated existence. If you want a moment Revolution against that, figure out how to vote your proxies and get rid of every, fucking board member out there, or replace them, or as a people, or consumer actually care about exogenous risk. That is Humanity. We're now just an exogenous risk to them being. Let's not forget the boards. Let's not forget that, people angry at Target for their Auntie. Dei anti gay pride, turn, they voted by their by foot traffic. Right? They stopped going to Target. You can also, if you don't own Erosion. These companies, you can also vote as a consumer. I was in my doctor's office today and we were talking about all kinds of things like nutrition exercise. And and one of the first and we'll talk about vices, you know, talk about our health mental health, physical health. And one of the first things she said to me is how one of the things that you know, she's done? Well recently it was by was deleting Instagram. I mean this is a fabulous, my yes. Okay, but in my doctor's office we're talking about Instagram the same way we're talking about like, focusing on electrician. Yes. So it's like what this is like a known thing in culture now. So let's get let's deal with it. People, we actually, you mentioned cigarettes, the United States actually has done a great job reducing smoking among our population. Let's get to let's get to this stuff. Now let's get to socialize. I I will say I voted for my first Republican in Town Council this year and I voted for him because his platform and this is a local elections. This is West Hartford Town Council, right? As His last name is Wang. He was very smart dude. I've seen him at Town council meeting, you've gone. Um, he came with, like, studies in this whole thing, he's a very smart guy. He said cell phone bands in schools, he said limiting social, media access until high school and I was hooked. I was like, you know what, that is a reasonable human being. Who's looking at the actual data and academic research Was Heard for so long with that Portland? I mean, we're already got rid of Bonuses. Why I talked to our superintendent. I just I'm like what the fuck is wrong with you people? You what's the price kids are off when they get off the can't even. Anyway he's up there. Let's let's pick a story of the week. Come on look I know like I'm not gonna pick the Tesla story because I gave you the anti CEO Wave. I near city of like yeah I know the New York City wins a big deal, the anti anti Dia, d e. I wave actually that one feels like the beginning of potential beginning of something. And and chat, but we spent all our time, talking about chat, GPT and Sam Altman suicide device. I'm gonna go with the anti anti D. I got it, I want to celebrate something because, yeah, I mean, there's real data here to support. I mean, I don't care what anyone says about you know, all white countries like Finland. And there's always these, these studies all the time about how like the happiest people are these homogeneous societies. And and and, and these these, these countries of the population of 6 million are doing so well. Okay. People the the, the epicenter of progress and education on our globe right now is in the northeast of the United States. It's it's it's it's proven once again, by the data I presented to you. Now, now, the the mayor of New York is not going to be a Democratic Socialist. A South born in Uganda, a Muslim Taiwanese, Michelle Wu who also uses a lot of the principles from FDR's. Well, you know, the green New Deal. I mean, this is so we have to focus on this. We have to focus on the victories and, and this is important stuff. I mean, let's let's celebrate when we can. That's the story that we called. Let's Move on. Honestly the The future of America's female. That's like that. The world has to be, it has to be. This is why this is that one of the tenants of this of our program, it has to be like it. If we want to survive as a species, give them give women a hundred years and then and then they wake me up and then 100 years are over. And then let's look at the data. Like, if they suck worse, fine. I will admit. I will admit it. I'm that I'm still love and I talk all the time. About the story, how you were in an office and some guy asked portfolio manager. Some white dude asked you. It was like, it was proved to me state that I believe having more women on the board will make me outperform and your response was Proved to me that having more men on your board has gotten you to outperform, right? Like it was well I think it was actually I don't know if I'm wrong. No one. Will remember think it was actually State Street that was just talked about this week. How There in the US, they're dropping their Net, Zero pledges, but in Europe, they're keeping their, Net Zero pledges because of political winds, the same State Street that funded. The the girl in front of the bull statue in Wall Street. And I was the one where the portfolio manager basically was like if you don't show me that women outperform by being on the board that I don't care. I tell you what was most disturbing about this. This this this tour that we did talk about the women on boards report for msci, is that most of the meetings that we went to or that I went to The rooms were there was higher percentage of women in the room, probably because they're the only ones who cared unfortunately. But the met, the Patriots were so strong at this company that the men had, the dominant voice in the room. They all spoke. Yeah, they don't. They're the ones who were negative and and almost at every stop I had to wait and I didn't know this is gonna happen, the men would leave the room first with some kind of like backhanded, you know, I have to shoot busy for this. Yeah. And then and then the women would all come to me and ask like, a bunch of probing interesting questions, because they didn't want to do it in front of their calls. Because yeah, it's really, which really blew my mind. I had no idea that that was gonna. All right, let's move on. Let's move on. Standing in. And that was like, how long ago was that? That was like, almost seven years. It was like, how will be years ago? How have we got in Reverse or drastically? It really blows my mind, our good list of the week. I got one quick one. Yeah, yours seems more tongue and cheek but that's okay. Uh, FAA announces flight reductions at 40 airports here expected. And what Travelers need to know? This is good for so many reasons. Yeah, so we don't need to travel that much. Second of all know the carbon savings from us, third of all, like the airline industry like they were losing their minds about this. This is fabulous. It is like there should be fewer flights. We don't need to go. That Zoom exists, people just get on here is that the flight controllers, they're not making any money, right? Well, no one's that is sad. Look, that's sad, but maybe we don't go back to, you know, that's not true. Maybe not, maybe not so hope mine. Mine is just continuing my enthusiasm from some of my stories and story of the week. My goal is that we is, is that the elections the Tuesday elections Year in the United States. Specifically this headline, this is and this is a shout out to Emma lurking. Who Emma is applying to grad school if anyone remembers the great Emma. Yeah, but Emma loved This woman former FTC cherolina Khan. I remember Emma was a big fan. Here's the headline X FTC chair Lina Khan. Joins transition team. Calling his victory or rebuke of outside corporate power. How about that Alina? Come on lean back in the spotlight. Yeah, yours. Although You know, the the weird the weird part of the effects of trump and his like, his just his bundling. This that he is and his tariffs in some weird way might be to reduce America's like materialist fixation, like, right, could we because people are traveling less than yes, because they're afraid of us, right? We're traveling less because we have no spending power. Now, they're reducing flights because Trump can't seem to keep his government working where the tariffs again are. We're all buying less because we can't afford it. Like this is all sort of oddly good in a sad way, right? The funniest part is so the Supreme Court just heard tariff arguments this week, right? And there was a lot of skepticism about the power to unilaterally do these tariffs in the first place. But one of the Trump administrations arguments was this is an emergency, you have to allow the tariffs to exist because we're using them as bargaining chips and all our deals would fall apart without the tariffs. So they're using the tariffs as an argument to keep the tariffs, right? Like they're basically saying like we didn't do the terrorists, we wouldn't get the deal, we have to keep the tariffs now, but the argument should be we had the right or not to do the tariffs but they can't do that because there's no good reason why they did it in the first place. It was just arbitrary and capricious. So I its Fabulous, it's so much going on. All right, let's go back down over here for like three hours. I've got, um, you get a lot. I got a lot but it's it's really just two things. Number one. And this is probably just like, we're just gonna say that the assholes of the week or Tesla shareholders. Yeah, we talked a lot about. I I didn't think we're gonna talk about Tesla, the beginning, but we did already so anything. He talked a lot about it. I gave you three options this week. The theme is there two, basically, but buckets where you can, it's an asshole, Choose Your Own Adventure. Okay, so the Tesla shareholders, come in three flavors, you've got your retail Internet troll dunking, Fanboy shareholders. I don't know who voted largely for musk as far as we can tell. You have your professional institutional investors and this includes Schwab who actually Schwab caved because some of their largest financial advisors threatened to take their clients elsewhere. If they didn't Schwab didn't vote for. Oh, interesting, musk's Pay, but not having the same excuses Florida SBA which is Florida's like they're they're pension fund, right? That's the, but yeah, the governance team isn't doesn't do this for Mega. They actually went out of their way to write an exempt solicitation, which is a filing in favor of like, pushing for support for musk's pay and in which they said the following quote, Some opposition to Tesla's 2025, performance award, maybe rooted more in political disagreement with Elon Musk or ideological discomfort. With generous executive compensation, rather than a substantive critique of the plans Financial mechanics. Yeah, many of the loudest objections of this plan to date rely on moral framing. Well yeah in invoking themes of inequality corporate excess or musk's Memorial University rather than evaluating the plan through a fiduciary lens. Oh many, many opponents of so called Mega pay packages frequently do so under ESG framing, right? Rather than a throw analysis of the long-term share owner economic value. So, these are, ironically, yeah. Go ahead. Go ahead, ironically Tesla's. Prior performance Awards. Similarly criticized at the time have delivered some of the most significant share owner returns. Modern corporate history. So same people who use the Bible to take away women's rights Especially with Healthcare abortion but but they're, but they're looking the other way when it comes to to giving one man an excuse to to defy our morality, our ethical framework as human beings. Like that's okay. So wait as a fiduciary, then two things strike me number one. The first thing that strikes me is that Florida, use, share, owner, value creation, as the argument against moral Are moral outrage? Yeah, like they were with but we made so much money. Why are you morally? Outraged. Does that what that says? It says like opposition is rooted in the, in the idea of inequality or moral outrage, through an ESG lens. But share all share, owners made more money, but they're all using, but they're all so attacking. They're also attacking Dei because they're saying it represents inequality against white people. Well, the they're not saying that specifically. Okay. But I'm just saying, looking at the record of how Florida acts. The other thing that strikes me is that, if you're going to say, we look at everything through fiduciary lens, then shouldn't we see you voting out, the bottom 25% of board members, who underperform. Well, it's funny you mention that. Yeah, because the, there's a, and there's an anti-esg anti-wolf proxy advisory Eagan Jones. They're kind of like, the right wing version of ISS and glass Lewis. If I mean, I can't believe I'm calling issa's left the black clearly, not something, but but they are compared to, you can Jones, you can Joe just put out a new wealth generating. Proxy voting policy that that is trying to move beyond the tenants, the original tenants of ESG, but they do suggest that the way to analyze directors is looking at company performance. They said it right there and yet to your point that means that they should be voting out at a minimum 20% of all underperforming, directors, Autumn quintiles, never gonna happen. And then they're never gonna release the metrics. That that show director performance it yet. They should come. And they could look at performance metrics every company that underperforms like a peer group but isn't like it's not 4 9. 9 9. It's the same with our president, right from reality. It's the same with our president, like he's doing nothing to bring prices down for the, a lot of the the lower class of America that he promised that to, but they still support and because of a cult of personality, it's right, it's all idol worship where it's just Jesus ramifications here is because the market has unhinged Tesla from reality, and made shareholders money, even though there's a cost so shareholders, right? Like it's like, if you are, when you had a thousand dollars in Tesla, you your money might be worth 2000 dollars. Now or let's say it's worth 5000 dollars. Now, that's not a lot of Starbucks, but it made like, Musk himself a trillion. An actual trillionaire. Right? Like that. He's on that trajectory. like, The this is the the reasons why an Institutional Investor are voting for it. And we know now from the from early data, that Alliance Bernstein the Texas employees, the Ohio employees. They voted for the plan. Schwa voted for the plan and Florida, voted for the plan. So, there are a lot of institutional investors. You could you could say, those are the shareholders what we can blame for this, or the last option, here are techno Libertarians who are cosplaying as William Gibson cyberpunk fantasy. You know, like there is a group of using option. Yeah. You choose one of these. Choose Your Own Adventure. Is it the retail? I'm gonna, I'm Fanboys. Is it the Techno Libertarians or is it the professional Institutional Investor, I'm going right at the Fanboys. I mean, this is a democracy. The and the alternative democracy is just as vital as our regular democracy and, and We have more power than, you know, we believe. And so we voted and you're following your falling for nonsense. He's not he wasn't going to go anywhere. He was, he's still, he still owns a ton of shares. Thank you to manipulate the market, and pretend like his cars, or better than than the thousands of other great cars billion. Optimus robot, even his cars aren't the best. So why will his robots be the best? So anyway, you're falling for nonsense and what I don't know was suddenly like America is a funny place like in New York City. It's a rebuke to CEOs but Tesla shareholders. We want we want our CEOs to be Emperors and kings and monarchs so have their own robot army time. It's bizarre anyway, let's anything else. All right. So part two. Yeah. Go ahead is more a speedier section well, like another more like 80 I pulled maybe 10 quotes, that doesn't sound speedy. These are the ask quotes of the week asked, quote, okay. Well like okay, yeah, you this is it, you Choose Your Own Adventure? Which one of these quotes is? So you're from the biggest which one of these makes this the quote, the quote did the big ass hole to make to sew the middle. Schooler would understand what matters saying by middle school or I really mean like Mark Zuckerberg Samuel or Elon Musk that is translating a fart, right? Until into words. Yes word. Okay, ready. Yeah. Here's quote. Number one. The idea that chips and ontology is what you want to short is batshit crazy. Yeah, I know this is Alex. Karp, yeah, I know, CEO palantir on the fact that Michael Berry who is a big short? Fame is shorting, palantir's 400, multiple PE stop. And the reason why I chose it is I had to look up ontology. In this context I was like what the fuck is he talking about? Yeah. He Barry is shorting Nvidia and palantir. He came out this week and he mentioned, well, you would reported this week. You would think eventually there's gonna be an end to this, this craziness. Well, that's why he's shorting it. You just he's just saying like they're overpriced, it's a bubble, it's not cars and it's just not like that. But you know, Alex karp's, quote ships are in video and ontology is palantir. Now, the word ontology refers to the metaphysical concept of being. So what he's saying is Michael Berry is shorting. Ships, that power our economy and our existence that is palantir, palantir represents the existence of humanity. The metaphysical idea of being palantir makes technology that tracks humanity and lets us kill each other better, right? It's that's what it does, you know, like it's it's, it's war and law enforcement software. So that's number one, number two, and this is also the guy who constantly crops on Elite universities despite coming from Haverford and Stanford. Yes. But number two craps on Elite so much that he's now making this big song and dance about how he's gonna that college. Is they essentially a brainwashed, you right? So now he's hiring high school graduates, so he can brainwash you write why rely on the wisdom of faculties, you know, that are like 500 people with Board of Trustees, president Deans, just go to Alex, carps University, which is his company, let him brain, wash you at high school. Why, why rely on a bunch of women and people of color to teach you right where let's lean and go right to pound here. Go ahead, keeps on quote. Number two. Oh God, you have more compelling here. Sorry, yes, we at palantir are on the side of the average. This he said this in an earnings call, Alex carpet. Again we at palantir on the side of the average. American average sometimes gets screwed because all the empathy goes to Elite people and none of it goes to the people who are actually dying on our street. Gotta be kidding me, this is Alex karp quote in an earnings call, he explained this quote, he's referring to the Fentanyl and he said, if Fentanyl killed, 60,000 Yale grads. We quote drop a nuke on wherever fentanyl was being made in South America. Is it being made in South America that we know that to be true without realizing that he literally is the elite. He is a billionaire. Yeah, with a high-priced education, he has a PHD in neoclassical social theory. Yeah, no, he used his grandfather's, he uses grandfather's inheritance to start investing in startups for fun. He connected with Peter Thiel when they were both getting their JD his other degree. Because he's got a bird and a PhD Stanford JD it's Stanford, and they form founded palantir together. Stanford, where nearly 100% of his board went to college. It's the man. So saying that we have we all the empathy goes to Elites and his company cares about average people. I mean his current net worth is estimated at 12 billion dollars. That's probably a fair amount to solve. He was on a real dictionary average Americans. He's been angry, the there been a lot of reports that the guy. What's his name? Michael Barry. Yeah. Michael Berry shorting, his stock has turned this guy. He's just angry. He's just he's so angry. He once said that drones should shit on people analysts of the of power here because they were, but this is what average American think about, right? We think about Our we think people mostly people affecting our net worth of 15 billion dollars, right? That's what we're preoccupied. You know who average Americans feel the most compassion for somebody who builds technology to track them constantly and catch the thing wrong and help law enforcement, you know, put them in jail. Here's another one. Quote China is going to win the AI race. Yeah, that's Jensen Huang on the us being only quote, nanoseconds ahead of China. Yeah, and being stopped. The Reason Why Us isn't winning is because it's being stopped by regulatory hurdles and quote cynicism, what regulatory hurdles. But but you know what? I'm I applaud Jensen because he He has, he has stumbled upon something that I haven't realized. Is that he's right. The only checks and balance. We currently have against these, these Emperors. And these Kings is our cynicism, is cynicism, because there is no regulation from the government. There's no regulation from their own boards from the shareholders. Well, for Jen, he's China, by the way, he wants, didn't he also like he backtracked on that he's confused. China is always used as some, it's the new Cold War. It's the boogie man. You just try it out China, when you're trying to raise money for your own company. We're trying to elevate your own stock price, you just threaten China, right? I can't understand. He said the quote is China, is going to win the AI race. So what this is a, this is a man who's trying to sell, right? AI chip winning two. China is losing the whole point. He wants to sell AI chips to China. Yeah. What is even me though? The Lesser chips, I don't mean, does it mean that no one understands his net worth will be dented. How is it another way to keep going? Blow hard, blowing hard here. Here's another option for you, quote. It's very important. We pay attention to safety. Here, we do not want the Star Wars movie, or we do want, the Star Wars movie, not the Jim Cameron movie, I like Jim Cameron's movies, but you know what I mean? That's Elon Musk over-promising tens of billions of. He said, tens of billions. That's a quote of Optimus robots and forgetting that Star Wars droids were weapons of war for. They too bad on musk's grandfather wasn't in a real life. Jim Cameron movie. Titanic is too bad. He wasn't on that boat and we wouldn't have had to Elon Musk in the first place. Oh, that's that's cynicism right there. Here's another Elon quote, quote, people often talk about eliminating poverty giving everyone amazing Medical Care. Well, there's actually only one way to do that with the Someone was no background and either one of those fields. Let me add this quote. I am I, I transcribed the quote myself. There's actually only one way to do that. That's what the Optimus robot with humanoid robots. You can give everyone amazing Medical Care. A lot of people talk about eliminating poverty, but Optimist will actually eliminate poverty that Elon Musk at his, a proprietary product of his own company, which hasn't been fully formed yet by a man who has no understanding of how to eliminate poverty. How to give Medical Care to all, who simultaneously has hoarded the most wealth in the history of our planet history, who could solve both Medical Care and the elimination of poverty, by writing the right. Checks, the right organizations who do understand this is telling us how to eliminate. This is just, it's too much a man who derived much, it's too much like Bill Gates saying he was going to give away his money. This is a man who's current now. Worth is 500 billion who just got an extra trillion dollars, a PayPal package, he forgot Heath. The thing he forgot was the UN actually estimated it would cost between 35 billion and 200 billion per year to end poverty too much. He could end poverty by himself for two years. Still have 100 billion dollars left over. There could be no poverty on Earth, plus you're about to get another trillion dollars. Anyway, so you'll have another trillion for two full years and he would still be worth more money than anyone could spend in a life gonna say. And I know we're already like almost to an hour. So this show is like going a bit longer than the end is really fast. But let me tell you, and I don't want to spend a lot of time in this, but but and I know a lot of people are not as like obsessed with this as we are obsessed with these, these annual meetings and obsessed with this corporate democracy that we spend a lot of attention to, but pale of attention to. But in listening to that meeting, there is clearly an existential problem here in. We are not fighting this in the right way in the first place. Because even some of the good people from the anti musk's side. I don't know if you'd call them left or liberal. Yeah, I don't know if you even would there. I'm talking about all of them. I'm talking about the everything from the corporate covered in God flies. The macritchie 7 types to the the people who own these shouted us out at the AGM. Great, but there but they all They put themselves on tape. They delivered such a kind of, I'm sorry, if any of you are listening, but just such like, nothing. Weak arguments against kind of kind of mumbly Mushmouth. Someone was saying how they actually even own a Tesla and they're praising Tesla weather also like saying that we should We should it's just like we're not fighting this in the right way, like the well, you sound like you're making a moral argument and Florida thinks you should make a fiduciary, whatever argument I'm making. Like, you know, I I'm gonna, I'm always just trying to open eyes to hopefully like people who don't pay attention to these issues, especially young people to realize. Like there is a, there is a reading here to fight but we're not fighting it in the right way because these shareholder proposals. And I know that Corporate America, there's this long joke about how Charlotte proposals and ISS or destroying capitalism but they are so ineffective. It's livable much so I'm sorry. And I and I I love John Shepherd and I love Jim McGee. I think they do good work but block we're just not. We're not doing enough, I don't gotta we gotta vote out people at least like you should every director got voted in again at Tesla. All the Shoulder proposal points, at least like, let's like now is a great speaker. She's very persuasive in her storytelling. Let her at least write up something to say. At these meetings to try to like teach the people in the room because the way we're doing it now is just so completely ineffective. I'm sorry. All right, let me finish because I got another message. That was a weird tangent and thank you for long. And let's come on, let's get out of this quote. I think we may be able to give a more. If somebody has committed a crime, a more Humane form of containment of future crime which is if if you you now get a free run up free Optimist and it's just going to follow you around and stop you from doing crime. Well those followed by maniacal. After I know Elon Musk said that the meeting yesterday but Larry Ellison who was also the maybe I think he's the second richest man in the world. Yeah he said the same thing that if people are watched constantly, That will get rid of crime, that is exactly what China says. Yeah, isn't that China like installed cameras everywhere to do that and we hated it. They were stories about that 10 years ago. And like not to mention we're earlier, Alison and Elon Musk with like just just prisoner Rehabilitation because that because that's something we put no affirmation resources into Donna. All right, here I got two more quotes quote If I've lived in a failed city state, I lived in Chicago for 30 some years. I know who said this, I had two colleagues who had bullets fly through their cars. Did you really do, you know how great it is to go to dinner? And people talk about their children and they talk about their future, and they do so with excitement and enthusiasm, that's Ken Griffin of Citadel describing the difference between living in Miami and Chicago Police without actually looking up. Any statistics on violent crime, which show that Illinois. And Florida have virtually. Identical rates of violent crime. Miami ranks, 109th out of 200 cities and Chicago Reigns, 92nd, out of 200 cities. Just the same zone, right? We're not talking about near identical, I don't want to get the biggest Ken Griffin doesn't pay any taxes in Florida, but he paid them in Chicago. I don't want to get too deep into this because Ken Griffin, you are the worst, absolutely. You're you're a racist piece, auntie. Anti lower class piece of crap. The Chicago was such a segregated City in general by class and race that their Ken Griffin doesn't live or go to any of the parts that are suffering from crime in Chicago. So he is such a disingenuous statement so disingenuous through their cars. So disingenuous it's it's horrible. Ken Griffin keep going. Go go to Miami and then keep driving South for like 200 miles and then park underwater somewhere. Okay, go ahead. Hey, I think yeah, maybe and drive a Tesla where the doors won't open when there's an electrical shortage. All right, here's the final quote. Yeah. For your for your asshole. Not speed round. These are asked quotes. This was not quote. Mum Donnie. Congrats on the win. I like that. Now, you have a big responsibility. True, if I can help NYC. Just let me know what I can do. I know who said that? That is Bill Ackman. After Mom, Donny. One previously said, who. Previously said, quote New York City under Mumbai is about to become a much more dangerous and economically unviable. He alluded to mondani as a suicide bomber the answer to you call it liberal arts college Bowdoin, College up here, 30 minutes up the road for me. Yeah, that's a. He said, what place was his dad? Who is a professor who said said said something about suicide. Bombers should be thought of, as actual soldiers. Not like just ideologues, it is a form of militarization of, you know, like and Ackman quoted out of context, like only half the quote of mom Donnie's, father, and said, the Apple doesn't fall far from the tree Elon musk's, right? And then Acme also said, quote, I'm done with an anti-capitalist mayor which destroyed jobs and caused businesses and Wealthy taxpayers. That have enabled New York City to balance the budget to move elsewhere if a hundred or so of the highest taxpayers in my industry, chose to spend 183 days. Elsewhere it can reduce New York state and city tax revenues by 5 to 10 billion or more and that's just my industry. Think Ken Griffin leaving Chicago for Miami on steroids? He actually oh, excited Ken Griffin above. Well the fact that the statistics were the same shock, does your options. I'll give the CEO of Bank Of America. It's still Brian morning hand Moynihan. Yeah, I will give Jamie dimon now chairman diamond and Bill Clinton all credit. At least for after Mom Donnie win for saying that they they will reach out to help. Look, they could be still going the other Fox News way, which is like let's leave. This is disaster. Look I so I think they're going to undermine instead of leave sure which typically happened, right? Just like the Republicans did with Obama. Sure. I mean, but, let's pick. Let's pick some. Some quotas. You have carp with a couple Elon Musk with a couple Jensen, Wong Ken Griffin, or Bill Ackman. You know, I really Alex carbon palantir is is one of the literal worst because of the what the company does, right? I mean it's a to work a company but I the one the one thing that really got me going was this is this whole Ken Griffin attitude of life, this attitude of Life of like I'm just gonna abandon I'm pretending to want to help my people. But I'm gonna abandon them at the first sign of discomfort. It's like the celebrity are for 30 years. It's like the celebrities who leave America because they don't like how an election goes instead of Staying using your resources, using your voice to fight back but they they run away to their fifth home to wherever because they have the financial wherewithal to escape. And then they tell everyone but Ken Griffin, that's my choice Ken Griffin. Yes, speaking of, yeah. But they're all who care home. He had he does have a home in Hawaii and Aspen in New York City in Palm Beach. In London, in the Hamptons in Miami in Saint Tropez. That's his 1.5 billion dollar property portfolio. That guy is complaining about Chicago which was his seventh place that he lives, grew up in whatever. Unbelievable. All right, let's do headlines really brought me down. I was up this week. I was up show done. I was up this week. Now I'm down. I have a really quick. Headline news, go. Meta, reportedly projected 10% of 2024 sales came from scam fraud ads which means it's really like 30%, right? If they said 10%, I mean, I just love the idea that a multibillion dollar company is happily Telling you that. 10% of their revenue came from fraud and scams and that's not something they're tamping down on. That's something that's like okay, it's Revenue. My my headline is made me laugh and then it also setting up my joke. My in my predictions, Uber says, Unpredictable issues involving legal proceedings or governmental investigations took a 479 million bite out of its bottom line unpredictable. It said yeah I went right to their 10K and I I'm just gonna read you some of the statements I found Our business is subject to numerous legal and Regulatory risks. That could have an adverse impact on our business and future prospects. Adverse litigation judgments are settlements resulting legal proceedings, in which we may be involved, could expose us to monetary damages or limit our ability to operate our business. We operate a particularly complex, legal and Regulatory environment blob blah blah blah blah blah. It seems like they had some sense that there was legal and regular numerous numerous numerous he said sense of these risks who win for the week. My winner is actually good. I'm sticking with it the anti Anti Dei world and I hate the fact that we have to fight back against an anti Dei world. I hate the fact that we live in a culture where some people think that things like being woke and being in Dei is bad, but that's where we are people. So, you know, I had a lot, the northeast of the United States. I applaud Detroit. Yeah, go ahead. Imagine you're was also the same thing. It was women. Yeah, because we literally need women to be the winner every single week. Thanks New Jersey, the Detroit, right women. Boston mayor elections. Women need to win everything. Just let not just in the north side of the fucking not just in the midwest. Yeah. Pretty good predictions. Let me go first because I already said up my dumb joke because remember, the original headline was Uber says unpredictable issues involving legal proceedings, or governmental investigations took a 479. My prediction is Uber says unpredictable issues involving drivers wanting money. Took a 400 799. That is not predictable. Nobody would have seen that coming up there they want money. What do you got? I got this is Bit longer with me. Okay. So this week, open AI CFO Sara fryer. Yeah. Said early this week that open AI was looking for a government backstop to back. Open Ai. And then clarified saying, the company isn't seeking a government tax option that it does investors and governments would just all do their part, what? I think, open AI CFO, Sara, fryer, renames herself. Cheryl sand fryer. I like this as an homage to Sheryl Sandberg. Yeah like the former CFO of Industries because, Sheryl. Sandberg is the OG Tech, bro, drop out. Mommy. She Is one who basically stepped in front of every landmine for Zuck. That means Sarah is going to do the same thing for Sam Altman. She already has her own version of lean in. It's called ladies who lunch seriously real things. Oh, Sarah has completed degrees from Oxford and Stanford unlike Sam and she's already come out and said that open AI will be the quote, Cornerstone of resilient democracy. She is Sheryl Sandberg. I love how the history repeats itself, that's all we got. So that, I mean, our democracy has never been resilient because we never had opening in the stocks before, but now it's okay. Thank you, open AI. That's his little Raul's or Damien as Mommy called. I am your analysis come back? We're gonna do a proxy countdown right after this. You're gonna get double back to back. Come back for that until then goodbye.