Transcript
Come on. Live. From your stakeholder, teddy bear. Oh is a business pants. Friday, show here at October 24th. Studios featuring analyst Hall at mascardi. Make that quick change in the pre-production notes. On today's weekly wrap-up Army, Tech CEO Bratz I don't know what that means. Jen AI. Steak sauce. and the real American corruption is happening at A basketball court. I know it. That's not sleep, the worst. Our show today is being sponsored by free. Float, analytics.com. The only platform measuring board power, connections and performance for free. I'll say this, I'll say this about the day there. If you're part of a larger Institutional Investor grouped as you know money Capital buys a lot of data to help you make investment decisions. Sure, there is no planet where this dado wouldn't be helpful. I'm not saying there's no point, I'm not saying it necessarily has to be You know, the, the Crux of your entire investment professional could be, could be, but you absolutely need to have this data as a supplement and it's really not that expensive. So, I mean, I'm trying to say is you can afford it, but you should have it. You should have like in late or the fact that buy it like Paul Atkins of the SEC said, Cheryl the proposal should disappear, you're an idiot. If you don't already have this. I mean, this is the only thing left for you is voting and on directors. So Get it, just get a buy it, just buy it. And, you know, I if you're super rich, like if you like work at Black Rock and you're, you're in charge of buying data. But I like 10 subscriptions of it and maybe you can hand a few of them out at Halloween. Do you think so? Do you think do people go to like the BlackRock off? Yeah, say trick or treat the kid of Powerful like glass Lewis is Kid. Oh, I said that's connected, but just by 10 subscriptions. And yeah, and a few hours. It's almost Halloween. All right? It looks like you have 700 things to talk about. I don't. So, let's get going. Let's go, she's doing this thing. I just have a lot of note. Story of the week. Well, no, no, no, no story. I'm a highly. I'm a highly esteemed, professional. I'm not, but I'm high but I'm organized. I take a lot of notes like it on the live stream. You look like. Yeah, of course, because I always wear a grubby sweatshirt. I I take a lot of notes. I'm ready in case. I don't know what you're going to say. I'm ready? I just have. I have information. I don't know where your conversations gonna go, so I'm ready. Hey, this is fact-based snark. I don't want anyone to think that this is just silly. Sarcasm, know, they lead with facts, we searched everything. We we look at third party sources in the media. We look at actual SEC filings. We look at the data. Free flow, analytics.com. We look at everything. This is fact, bass snark, people. I feel like, irreverence requires facts to be a reverent about right? Like, that's really how, I don't know. I feel like that's what has to be. I don't know. I want to believe that story of the week. Did you already played me in? I don't need. Did I play you in? I'm gonna lead with a dorky one cities. Jane Fraser, consolidates power with board, chair vote, in a 25 million dollar plus bonus to boot. You know what, I don't like about that headline in particular. like, We've seen Brian Moynihan was made chair of Bank of America. We've Chris Kim Jong going back chair. Oh McDonald's, but none of the boys who became chairs. Did they say consolidates power? Yeah, they make like evil, they make it seem a little evil empire. Jane Fraser, the only female CEO to go from CEO not chair to CEO chair in recent memory, I'm looking at you David Hollerith. From Yahoo finance. First of all I pledged you for for at least you know, referring to the fact that when the CEO becomes a chair it does consolidate power, it does, it does. That's right, you for that. And I applaud you for taking that perspective in your headline, but here's where you really fail. So she's getting a 25 million dollar plus bonus. I know what the pluses Matt want to know what he do. It ready for this? It's one million 55,000 stock options. She's getting over a million stock options, So it's trading at about 100 dollars a share, right? It's already I'm five dollars dollar bonus. That's the plus since this announcement, she's already. She's already made 5 million dollars of scratch. Just because the market went up because her the price went up. I mean what nothing? What a great what a great plus I just wanted to point out a few things about Citibank before we move on sorry, City group or whatever? The first of all, the name of their compensation committees Ludacris, ready for this name. The compensation Performance Management and culture committee. oh, What a lot of things do they have a partnership with Moma? Are they, is it like, do they have Basquiat paintings? Like, what are they talking? What a culture? Where are they talking about? What does that mean? I don't know what that means, yogurt. They know it means that they actually have a string quartet play at each of their musicals, all right? But I wanted to point out, first of all, there are five six, six, there are six members of this committee. It's supposed to represent a subset of the board to be a working group. We're on the board helped to make decisions. This is like half the board. Basically I mean so I don't know how anything gets done but these people couldn't figure out a proper way to pay Jane fridge. These are the this is the competition committee at Citi group. They should know how to create a pay plan that adequately pays their CEO, but no, they had to come up with a one-time Equity Grant. And, and yeah, last year, they met 15 times Matt and they swell couldn't figure out a proper pay plan to pay their CEO. So what do you doing? A compensation committee. The other thing I want to point out about their meeting with the string, quartet playing in the background. Is that four of them are long tenured of, at least, a decade of service and three of them. I want to point out quickly, how busy these people are, maybe they just not paying, maybe they're not showing up. They're not paying attention quickly. Peter Henry here are some of his other directorships Nike and Analog Devices National Bureau of economic research, economic Club of New York biospring Partners McKenna Capital, two Bridges, football club. Renee James Oracle saber, Vodafone president's National Security. Advisory committee University of Oregon trustee Diana. Taylor Brookfield, Corporation seon, Columbia, business school, friends of Hudson River Park. Melvin school, public health. I can have a club in New York consulate relationship. Hot bread kitchen, Cold Spring Harbor Club in New York City. Ballet, what I mean? Yeah. Why times, but, why is director Brian? Hemphill was voted out because he's also the president of Old Dominion University in a world bow tie. I think he, I think he had A bow tie. Yeah that's what's going on there. At Citi group. We see too much of this governance is going backwards, we shouldn't be letting CEOs become chairs. People stupid. Yeah. And if you do get a chance, go look up Citigroup board of directors. Look at their pictures because like I want to see like a third basically all the men except for Peter Henry who is a black man? Yeah, look like Central casting for Dopey board members. Did he looks a little you could be a Dopey board member too, but I hear your point. You know what I'm saying? Yeah, I do, I do. Second Story of the week. CEO armies. Oh, I we're gonna come back to this too. Yeah. All right, so I can go quickly and we'll talk about later. Uh, can we just say CEOs are building armies now? Is that enough? Can we move on? I feel like we don't need more than that. Like there's been multiple announcements of army building and the keyword here is look, I'm already the robot part. I'm not thrilled about but Army, that's the keyword army army is suggestive of a fighting force. Is it not? Yeah. It's worth probably spending a second on Elon. Well, Elon, this is in his earnings call. he said if we build this robot army, do I have at least a strong influence over this robot army. I don't feel comfortable building this, that robot army, unless I have a strong influence, that's what he said. So, This is in response to what's going to happen if they turn down his pay package. So he sees the pay package, not as cash, but as Equity he wants more right? Power over the company also threatened to leave. If the shareholders, don't threatening his own shareholders, So I I asked you this. If it really is about voting power, why not just tweak his voting shares to give him a little bit more of the vote? Why would we get? Why are we actually giving him cash? Why we're giving him more money? Why give him shares? Why I would give why, why is it a give him? How about we give him a dollar but we we up his voting power. Now I would still vote against him. I'm just saying, what, but why can't that be the proposal? Give him a bit more voting power? I know alternative. No cash, no. Equities or just fire him for being a racist, homophobic miles. Alternative, proposal involved. I do not want him to have any influence over a robot army. I don't think that companies voting, I think that that's the point where the board should shut the company down, can you remind me what Tesla makes again? Well purportedly. They make Cars and Cars that nobody wants anymore. Yeah. And it, what's funny is that he talked a lot about these. We have so many times on this show, we have talked about all the things that he's promised and not not come through on. So, yeah, he's a Serial over promise. Hopefully this rubber armor, never happens, but one of the things he gave no guidance on is actually during this earnings, call was the evil like electric vehicles, The Cars, The Cars part of this business, he also said he said and to that point, he said to on this earnings call which other Automotive CEO, would you like to run Tesla? Because it won't be me. But you're talking about building robots Army, robot even run an auto with with Automotive CEOs. Nothing. I would like An automotive CEO to run the automotive company. Look, I would like this here with four other companies. Yeah, go ahead. Do we What x x x, a, i x a, i and space flooring and neural neuralink basic X. And didn't he make like flamethrowers at one point for fun and like do he makes children for much of a threat? Because you don't even run the automotive company, you don't do it Tesla board. Some of you have become billionaires off of your of your relationship with Elon Musk. Some of you are already billionaires your network babies, most of you have come from great wealth. One of you, is the brother of the CEO III, think it is time now because the carp isn't really going that great. Most of the country actually hate your cars. There are, there are many wonderful EVS out there that now we can buy anyway. Your CEO is a is a pig is a racist misogynist. Homophobic Pig, he is now threatening his shareholders and he is basically threatening Americans in the world by Justin Timberlake, a robot army. How about you? Just fold. You fold your card. Just say, you know what? Let's let's end this. If it's over a long time, existed, we're done, if Tesla no longer existed. Who's sad? Like is it, or is this shareholder value? You're going to get more about shareholder value. I guess the board would be sad. They're the they're the ones propping up this this weirdo. I mean he needs this not for control. He needs this so that he can cash it out and spend it on his other businesses. Be honest about what he actually wants. He cannot go raise a trillion dollars. From his private Equity buddies, his VC buddies, his you know, like like his Tech Bros. They don't have a trillion to give him and they're already deep tapped into him. So what he's doing is he's going to the shareholders and saying give me a trillion. So that I can take that money out of the car company that you own. And put it in the private companies that I own. Yeah, the problem is all, this is a lot of the the shareholders are either completely passive. And we just boat with management or there are a bunch of like, you know, Cult of Personality retail investors who just who want to see the world destroyed by this Maniac. All right. I guess the other the other CEO Army that is we're seeing a lot. Also in the media is Amazon, we saw this headline, secret plans, reveal Amazon, plot to replace, 600,000 workers with robot army. No talking about. Yeah, I just finished watching and door. Why does it all sound like a Star Wars play, like, secret plans, and well, because it is, and because I think, I think that's where they've, I think, where that, that's where these people have learned. I mean, they're not, they're not exactly sharing their what they've learned from, you know, from ethics books on ethics and great great novels. And, you know, I mean, this is where they learn they learn from from science, fiction, and sci-fi, A Tolkien and and and why are we why? First of all again, no, CEO should have armies. That's the first point here. Second of all, why are we replacing workers at all? That's it's just not, it's not a benefit to humanity. Look if they replace 600,000 workers that 600,000 people that are just roaming out in your yard basically what we want. So much cash at least through your foundation or something. How about we have these 600,000 people work on, you know, trash fixing Bridges, different. Whatever plan there were placing 600,000 employees at the foundation. Yeah. All right. So that's the second story cdrs. A third story. I'll try to go somewhere quickly in here. This is more of the same, but I it's worth pointing out the ongoing CEO Trump. Oliver oligarchical Bromance. Wow. That's tough word. Yeah. So first, Trump pardons convicted by Nance. Founder Chang paying job, who's known as CZ. He is the yeah, he founded. Where's SPF? Why didn't he get a? Did he get a party? I'm sure it's coming. He He found he founded a cryptocurrency exchange which nobody needs except for I guess these These Guys these Bros. Um, this came the pardon came two months after the Wall Street Journal reported that the Trump family's own crypto Venture which is generated about five billion dollars since the 2020 for election has been helped by a partnership with an under the radar, trading platform, quietly administered by binance. So there you go, there's some good corruption going on there and the Trump another headline, Trump calls off planned search or his words surge of federal forces in San Francisco after talking to who not not Civic. Officials, not Community leaders, not Faith leaders, but CEOs, Jensen Wong and Marc benioff. I believe it or not, that's a true story. A true story. They have condos near Jensen, weighing in on this one issues. This is what its gonna rails people it's going off the rails. Mark Penny off asked for the surge thing. Then everyone said like what an asshole you are and now he's calling out unbelievable with these types of policy decisions. And then the third story that everyone is talking about um, here are the donors contributing to Trump's White House Ballroom. So I guess that the Trump Administration is is destroyed the East wing of the White House and they're building a dumb, ballroom and here. And here are the all the the donors, it's all the. It's all the people, you know, I'll say I'll sum it up Tech Bros oil, people tobacco people in crypto people. So it's the it's all the same people. Amazon Apple, coinbase, Google meta platforms, Microsoft palantir. It's all the same Joker's. It's this is what's going on. This is, this is, this is, yeah, but you forgot the wiggle lost twins. Okay. Well they're part of the crypto's, the wincle balls. They are the cryptos but they did individually. That didn't have to do with crypto. Oh sure, right? Yeah, right. So that's my third story of the week that ongoing Bromance and finally one kind of up our wheelhouse, but it's like a football player really like. I mean, this is what it takes for. For activist investors people to pay attention, activists investor group, that includes Travis. Kelce. Aims to revive struggling six Flex. So Jana Partners has partnered up with all people, a football player, Travis Kelce. And the reason why I point that out is this, is that according to reporting by Reuters That the possible for nominees at Six Flags will include consumer executive, Glenn Murphy technology, executive Dave, habiger and Chiefs tight end. Travis Kelsey Good. Yeah, I mean what so I mean so we're we're always told that we're a bit, too aggressive. We're a bit too flippant by, by constantly pushing investors and challenging boards to we're pushing for for much more frequent a board. Refreshment, we're trying to get dead weight off of boards. We're trying to prove it by measuring performance. We're trying to get new voices on the board people of color. Women were were fighting for diversity and Leadership all these things but we're told, we're too whacked out, but sure, Jenna Partners comes around and wants to put a highly concussed tight end of a football. I'm serious? I mean. So what you're saying is that it's is all. Bulshit right? The boards are it. It's not serious or what is it? I don't even know what is. I haven't talked about a big individual project that I'm working on that. I will talk about on the show later, are you picking finally, fixing the fence in your backyard? Is that what a lot of digging still left to do? But, but when the time comes, I will tell you, the people that I'm talking to. And I'm talking to people about boards and board members takes to be a board member and like, all this kind of stuff. Travis Kelce wouldn't pass, the first hurdle of what it takes to be a board member. He's a white man. Well, I forgot that is, the pressure works, right? And did cross that one. But like If we take this job, so unserious that, we a guy who spent his entire life doing nothing but playing one way, like doing nothing, because let's be honest, let's be let's call football, really, it's a game, right? Once you must have ridden a ride once at a Six Flags, right? Like that's his qualifications to do piano analysis, Six Flags. He did do that. What are we doing? What is the point? Well investors, what is like if Jana Partners takes their own activism so unserious as to think. Travis Kelce is the answer. What do we doin'? Why? We why we bothering you couldn't find anyone else? You couldn't find another person that said it was brilliant because I think the stock price is up and and all the their banking on the swifties to write, you know, feel good about going to Six Flags. Now those are my four stories. Where do you land? You're four stories suck. It's a city's, Jane Fraser becomes chair and gets up, plus bonus. Yeah. Massive, massive bonus, the oligarchy continues, you know, like your arms. Don't forget to see your armies CEO armies and Travis Kelce on a board. I, I'm Gonna Save CEO armies because it's one of the assholes the oligarchy like Apparently there's been pulling about the tearing down of the East wing of the White House. Yeah, that no one likes it like, like Republican look overly. Don't like, well, they're that's what I thought. That's like part of what conservative is right. Like, whoa, slow down. We know I don't change our traditions and all that bullshit Heritage apparently are very hard for me to figure out because we can tear down the Department of Education, but we can't tear down the East wing of the White House. Well, look, building has more value than our kids learning shit. I mean, this is country. Here's my perspective on this, is that I care about the relationships that Trump and the Administration has with the CEO is What I, you know. Do I know the history of how many presidents have made major, Renovations the White House? No, I'm not going to speak to that, you know, Obama was doing it. Nobody would I look, I just don't want to get a lot. It's not okay. The other side would care. It's not important, that's not important to me. I and you're right there. There are so many societal issues going on. That I'm not gonna focus on this. Just like I'm not gonna focus on betting and basketball. I mean, of course, there's betting and sports. I mean, the Disney Empire is putting how much they have ese. Don't get started. Don't get me started on your bedding and Sport. I mean come on but I guess when black guys are doing it it's it's bad. That's the problem that the black players betting but anyway the story. So I don't care about that but I do care about all of these CEO. I thought this was a new age map where CEOs don't weigh in on political issues that that they're not gonna take a stand. Either way, they're going to keep their mouth shut but But they're gonna write checks instead, constantly writing checks, isn't that a form, is that a voice is not a form of a political voice, the politics that they were not going to take part of is the politics that the winning side. Doesn't want them to take part of its not know, politics. That was just the argument when The Winning Side felt like conservatives were being sidelined. But you know it's you have to be conservative in order to be equal. Like, if you're not conservative, you're not equal. I don't know what it is. But meanwhile, even the quote, unquote liberal CEOs, like, Marc benioff are calling for armies to come to their and look, I know he changed his mind, he only changes his mind because the public was mad at him. He believes in it, obviously, if he said it now because I would never, I would never say it in the first place. So, so, he, how he had conviction, there's just why he wanted the Army to come in and the only reason why he wants an army to come into his beloved City, it's because he hates the homeless people. That's what everyone knows what he's so yeah, so all this money that's being thrown around. How about we? We saw our own us American poverty and homelessness and our own drug crisis. How about that? I mean you have so much money that yeah, we could start to to solve this quite, I know. That's a boring populist perspective here but it's the truth. Yeah, go ahead. I'm I'm ready to move on. Yeah, well, I'm not only. Am I ready to move on, Cheyenne, totally at a loss of what to choose, because I cannot choose Travis Kelce, as a CEO armies. So you haven't chosen yet. I haven't even chosen yet. Like my real options here are the oligarchy Bromance and Jane Frazier. Well, the backwardness of the Jane fridge is the quiet. It's the quiet answer to me because we're we're consolidating so much power and giving so many one time, but like bonuses, he was, we're just building up their Throne like we're letting it happen again, crazy but but one woman gets their Throne. Built up slowly and Mike Mayo at Wells. Fargo says this bonus is excessive and aggressive. Meanwhile, we're getting it. I'm in two years ago, gets a retention bonus and he thought it would be impolite to not accepted. Let's not get that were rationally, arguing that Elon Musk bonus. We're like, we're taking it from both sides and we're, we're, you know, we're very seriously talking about whether it's good or not, you're right, I mean, but it's not just Jane, Fraser getting these type of bonus. It's not just, it's not just the female CEOs, of all three of them. But there are no other female CEO. But I'm saying, this is like I'm saying this is a Pattern in the governance World though. Where we're consolidating power and giving 100 time fucking. I, I agree. But we're outraged at this female CEO getting it. And how about this? Not outraged at the boys club. If you're listening to John chevin and Jim MC Ritchie if you start, if you want to start having some actual fund, why don't we propose some? Like, some actual fun stuff at proxies meetings, like this, how about this one? If your compensation committee, can't figure out their crap and create policies that pay these Executives without one time bonuses. Then you should resign immediately. Every time you do a one-time bonus, you resign from the board, because no, because you're not doing your job, you don't know what you're doing. I don't have to resign investors, just have to help them out, okay? But you know like exactly what happened. We need like a rule somewhere else. Because investors aren't paying attention, I'm picking CEO armies. I'm picking the armies because of Elon Musk. I wish that was like a real story. Like, I deeply wish It wasn't a real story. Let's go on to goodly, oh, I have a good one. Well, not really kind, I have not a good one. I have a good one. That is so idealistic, that'll never have happened, but but it's important to me, only Um, it might that's the definition of the show. I mean look it's not gonna happen but I apply these people. Here's the headline, hundreds of power players from Steve Wozniak, is he still a power player to Steve Bannon? Yes, I'm agreeing with Steve Bannon to Richard. Branson founder virgin, just signed a letter calling for prohibition on development of AI. Super intelligence know this, the letter says nobody developing. These AI systems has been asking Humanity, if this is okay, the letter cites a poll from MIT, Know if I'm sorry for from an organization that is run by MIT and Mister Professor showing that only 5% of Americans 5% of Americans. This includes people from the mega right and and the magnet the not maggot left only 5% of Americans are in favor of the rapid and unregulated development of advanced AI tools. There you go. That's what I that's what I shot about weekly so I plug this. I plot look that it that's the most impressive number you can basically get because that the average director vote for is 96%. So literally like like it's basically the same is really direct is. Richard Branson still the CEO of Virgin? He's not is he? No he's not but I love the fact that it's usually like retired. Yeah I think I think I looked at the list kind of quickly but I think he's the only like CEO adjacent like used to be a power broker. And look at least. I don't know. I like, I can't believe I'm applauding people like him and Howard Schultz for, for being on the right side of History. I hope what their opinions here, but but they're like the only ones you're right, it's like retired Founders. It's like, 83 year old X failure to me. It's who own islands that they can live on anyway. So I know, I know if it's only 5% of Americans, that means at 95% agree with these Richard Branson types. It means that there are bunch of other CEOs that actually do agree with this as well, that I actually wanna meet the five percent. Like like, I think that 5% didn't understand the question it's Tesla resale, retail investors and like Reddit like to the Moon kind of right. It's like Tesla drivers and crypto dudes and right, I don't know that even they think that depressive want to see the world end? You know that kind of those types. My goodly is ridiculous. Okay, this is the headline Linda McMahon mixed up A1. And AI. Yeah. So, of course, now the steak sauce is all over it. Well, A1 A1 used to be when I was a kid, a one was a damn big deal. It was like, I love day one. It was like, ketchup mustard and anyone sticks out. So it it's kind of lost its Glory so maybe this is good. I'm yeah, I'm glad for them but a A1, the steak sauce, not AI A1 the steak sauce came out with an ad on social that basically quoted Linda McMahon saying A1 instead of AI and that every kid should start early on A1. Well why she said yeah. Why is she even talking to kids when she's already dismantling the Department of Education? Why, why is she even wanted to educate kids? She met her own kids. Maybe she was just talking to her own kids about it so the wrestling nepo babies. Yes. But A1 put out an ad that said, agree best to start them early and kind of good. Kind of good. It's like adjacent to basically. We are Shaping the bottom of the barrel for good now like like retired Founders. No one cares about say, AI bad idea. And steak sauce makes fun of Linda McMahon. Like that's what we got but they have some good nerdy listeners. If any of you, if you, if you come across stories in our world that you actually think are good. Reach out to us and, and share them because I do struggle here a bit. I try to find, I don't want everything just so alarmist. Don't just share, the take your Dopey smartphone that everybody has and smashing voice. A voice memo of yourself, reading out. Loudly a thing, and email it to us, or send it to us. We will play it on the show and we'll just do fan, you know, goodly, I'm fine with that. All right, let's move away. There's no good list this week. We're not voting know, everyone loses. Although I did agree with Steve Bannon and I feel like, I feel like I crossed the cross the thrust, we'll say that's good list. All right, I have Really three and a half assholes this week and one you've already said to you for you. I hope that one that half asshole is seeing their doctor because that sounds like it's really uncomfortable. Number one is robot armies. Oh oh, we just talked about that, robot arm. Yeah, we already talked about it, obviously, look here. Just, I'm just gonna read the robot armies, headlines because it wasn't actually just the two that I was gonna say, oh yeah, I was gonna say where the hell is sucking. This he is the perfect. Look, Elon Musk clearly is, he is the the Hollywood villain on the. Lex Luthor, of course everyone knows but suck has to be evil villain one bee, right? I mean we're his army. It's in the metaverse right now. They're still they're building it, right? That's true. I never thought of it that way, right? It's like it's yeah, it's better Army. Yeah, it's a metal Army. It's not, it's not a physical Army. Yeah. Um, but secret plans, reveal Amazon plot to replace, 600,000 workers with robot army, and you mentioned that Elon Musk defends 1 trillion. PayPal package. I just don't feel comfortable building a robot army here and then being ousted. I feel comfortable in being a hosted. Yeah, go, I would feel comfortable with him. Not building a robot army. I feel like it's like both of those things are actually great for me. No robot army know, Elon Musk, everyone wins. Um, but here's some other ones because you asked where Zuck is, here's where Zuck is Metals, some employees, their jobs are being replaced by Tech, right? So the robot army is actually AI internal at meta that they're deploying and getting rid of employees. That's a form of our arminius, right? On your own workers. although we keep hearing reports that all bulshit, right, that that just an excuse to do we Go. I mean, I had do have to ask this to the CEOs of the world is a What is wrong with your organization that you? You can't like replenish Talent like you're just firing them immediately. Like, Can't you build other things with this Talent? Can't you reallocate them? Like you just firing them? That's that I would like I would like to hear from a CEO, what the reaction is. When they look at someone in the face and say, I'm sorry, we have to let you go, we have operational efficiencies, we can do your job with a computer. Well, according to Sam Altman of openai, I wasn't a real job in the first place. So right, you weren't real. Oh, right? Yeah, and congratulations on that fake college degree you got but then there was this too AWS outage that took down. Internet came after Amazon. Fire. Tons of workers in favor of AI. Yeah, so they fired the workers who were keeping AWS running, And they replaced him with AI and then a the internet crashed. Like nothing worked on the internet for a day. Which honestly not a problem for me. Like don't get rid of the internet entirely where we really needed for, you know, get a book out. Yeah, but I saw this one, this is a little bit older. This is from the 22nd so two days ago and said yesterday, Us firms Star Wars style, humanoid robot Soldier brings sci-fi to Battlefield. Wait what us? So there's oh, yeah, I don't like the Sun. So this is a company, a company called Foundation is a private. So, yeah. And for the, for, I know, you said you finished and or so, don't give away no spoilers because I haven't finished it. But so, so you're talking about people like dudes Bros, maybe maybe a College Dropout, maybe not actually watching that show and watching Star Wars and thinking, oh, neat, let me to build. Killer robot. Not not an exaggeration. So the, the companies called Foundation robotics, they've built a, it's called The Phantom MK1. It's a five foot nine hundred and seventy-five pounds robot designed for Warfare. It's designed specifically for Warfare. No, this is not good. And if we want to add just a little bit of comfort to it because I Know, this makes you a little bit uncomfortable. A little bit. The the why am I the only one am I the only one? The founder. Yeah, who is the phone? It is a guy who used to shocking, used to be at a company called synapse, which, you know, his name, synapse Financial, which fraudulently, ripped off its clients and failed. Oh, his name is saying Kate Pathak, okay? And Indiana, American guy about out in Silicon Valley, He's out in San Francisco. So, they designed it to look similar, or it, or it accidentally looks similar to the, like, the really bad reboot Star Wars. You know, the George Lucas reboot, Star Wars, 2 role, Bots, droid army from that. Yeah, that sounds terrible. And apparently, I didn't know this because I went down this rabbit hole but last year people developed a epithet for robots because they're so fed up with robots and AI. Yeah, here's a headline from from end of last year, what is a clunker new slur for robots catches, on the slur is from Star Wars they call the robot's clanker, okay? So literally, we are now applying. Yeah. It's because the reality there is a group of people who are building the robots from the empire in Star Wars. Yeah, they're actively building them. and people are taking the slurs for those robots from the movies and applying them to the real life War robots that were creating Hope you feeling good. So as a number one, robot armies, I don't feel good about that. No, see you emphasize Army. I emphasize robot robot. Here is is yeah, I emphasis yeah. Asshole. Number two fake retirement. Well, I like this. What's this about? Look, here's the here's the headline I saw Jeff. Bezos says he's the least retired person in the world and he'll never retire because work is too much fun. Yeah I mean, come on, we know. I mean yeah everyone calls executive chairs, the executive chair of Amazon. He's still, you know. Yeah. So free flow analytics. A free flow analytics, has his his influence on the board. As, you know, 70% basically, it's he entire company, right? Look up Like there's no question, he's the entire company, but Andy jassy. Oh, you're wrong. 67%, you're like, um, Andy jassy controls only according to the data, free flow analytics.com, which is the the only data set that has this Innovation actually does this. Yeah, revolutionary way of looking at board power, Andy jassy CEO only controls 6% of board power, right? So Andy jassy is the CEO in name, but Jeff Bezos is not supposed to say out loud. That He's not retired because when they announced Andy jassy, they said, CEO and founder Jeff Bezos stepping down, Andy jassy, to lead, Amazon does it right step down anymore? I think it's either you're either Charlie Munger you know, which means, you know, you sorry you turn 100 and you die or you, you just you stay on the board as an executive chair, right? I mean, does anyone, but this is the. So in our data, this is the year of the executive chair in our data. There are 251 us board chairs that are executive of the company and they were the CEO prior to that. Okay. So let's 2501 executive chairs and they're not currently the CEO. Now that's 251 Jeff. Bezos is who are the least retired people in the world but they get paid like the CEO to work without any accountability. They're not actually the CEO, they don't have to do the earnings calls, they don't do the press conferences, they don't control the board. That there is some accountability. Investors could vote them out. I know never do okay, 122 of those executive chairs about half of them. Are not family, or Founders, they're not like Bezos. You could say, okay, I like having the founder on the board, right? Like Jesus, founded Amazon. He can be on the board as long as he wants. 122 of them are not family, or Founders, they're just the CEO that came before, they're literally On different CEO, Dave weren't there for, you know, like they're not the greatest CEOs in the world necessarily they're just CEOs. This includes like Donald umpleby at caterpillar. That guy is the executive chair at caterpillar. Why he didn't found caterpillar? He didn't Usher caterpillars through the gold years of caterpillars. He still wants to be in control. He still wants power. At Charles Schwab, Charles Schwab himself is the co-chair with ex CEO Walter Benton jerk. That's a fun. Power struggle. I mean the board has a third CEO of us that. Well, what do we do you like, do you need Walter bettinger the second to be on this board at all? Know what does he add? What does the other guy add? The average TSR performance of these people. These these, these non-founder ex CEO executive chairs is 477, that's below average. Meaning, you're allowing them to sit on the board and they don't even give you average TSR. They don't even give you average returns. 500 is average. Look, they give you below, average people. This is how it used to work. It's called a Consulting agreement. Like I for the next two, you're done. You stepping off the board, you retired to see. Oh, thank you for your service for the next two years. We have questions of like, where are the red paper clips? We'll call you, and we'll actually pay you for this. Believe it or not? Yeah, but we're gonna call you and ask questions, but get lost, like that's called a Consulting agreement, you used to happen all the time. You don't have to stay around in like and like stink eye the new CEO and and just make everything uncomfortable because there's no control. Yeah. Because we just, we just spent, like, like A month. Talking about Brian Cornell at Target. Step down. It's a CEO, but he's the executive chair. Yeah, I'm getting that he stepped down, because he's not gone. Yeah, he's just there. Yeah, the guy who's still there. What did he do for Target? Except everything wrong? What do you think everything went wrong at Target? Do you think of the board means? Now, he's like, what are you gonna do about this? This problem? The what are you gonna do? Is probably right. You get all ornery about it. Yeah, he could be like, oh yeah. Who fucked this up? Like number two. Okay. Go out. Keep going. Number three, boys, boys are just assholes right now. Okay, here's the list of boys being assholes. Trump says Jensen, Wong and Mark Benny off helped him some not to send true. I hate, that was good. That's just boys hate, boys City CEO, 25 million bonus before you get to that. How come the headline is? Not Trump says that Jenson wing and Mark being off. Help convince him to help the homeless. And drug addicts in San Francisco. They didn't do that. They didn't, they didn't make that Mark, Benny off and Jensen Wong. You are literally horrible for your city. You're, you're you're, you're you're know your orchestrating, the ruin of your city, as there would be a real estate prices go up. People are literally sleeping on the streets. I mean, you're, and you're helping convince in the not to send troops. You want us to congratulate you Jensen to Mark? You think you're you saved your city somehow? I mean, look, if Chicago had an AI billionaire living there, then they wouldn't have ice agents there for National Guard or like whatever. They cause that's true. They only have a hotel, they have a hotel, billionaire, who's the? Yeah, I think a hotel, billionaire Governor vote Democratic. So, like, you know, nobody likes that well. So I cut City CEO, 25 million bonus is excessive top Bank analyst. Mike Mayo says this, so he must so Mike Mayo. Must look at the Tesla paper proposal and be like we should arrest so bored at Tesla like, right. Is there an ethical jail? We can put them in somewhere Mayo, only covers Banks, but it is nice to contrast it with Elon Musk got feisty about his 1 trillion, pay package, we're upset about City, Jane Frazier's, 25 million and not the one trillion I know you don't have this information available but maybe we can look at it for a future show but all almost all of Jane Frazier's peers. We've covered it Goldman Sachs JP Morgan. Goldman Sachs got lunar Chrisley High retention 100 110 million or something. So I first of all I'd like to hear what Mike Mayo said about that. And second of all I'd like to hear him. Talk about how the fact that, why? If all the other peers are doing it, why wouldn't that eventually trickle down to City Group? I mean, she's obviously gonna ask for the same same thing, right? If all of her peers are getting these ludicrous one-time bonus. But anyway, keep going well to keep going is to feel bad about yourself Palmer. Luckey, says Palmer Luckey, who created The Meta goggle head? Oh great. Yeah. Oculus right. The video game Palmer. Luckey says he told Andrew investors and drill. Another reference to a Lord of the Rings things really Enduro? Yes. Palmer Luckey is a Peter. Tealight, he is and Andrew, does defense technology, that's what they do. Palmer. Luckey says, he told Andrew investors. They can't complain if he takes time off to be on Survivor. How come these? These these idiots. They know her name. Things after like a Virginia to the light house or like Emily, like why is it always? What are we doing? Why are we always fixating on these like creepy science fiction fans because because in Lord of the Rings which like growing up as a as a pre-teen, I love that book. Well, I got you, I don't actually I never read lower the Rings but is it about like, It's just like, is it about like a all-powerful beings that that dominate Humanity. Isn't it more about underdogs fighting back? Yes. Most about Star Wars. I mean Star Wars is we literally celebrate the Rebellion fighting against the empire, so right? We were we cheer for the underdog. So why are they taking all this the wrong way? Why are they screwing it all up? Well, first of all Star Wars had a princess that was like a like a like powerful and interesting. She was fighting and she was a fighter. The old rings has has no women in it. Oh it's basically all man. Okay, and second of all like it is good versus evil, like straight up, good versus straight up. Evil, like Star Wars has new ones, like there was a guy who wanted to be good. He ends up becoming evil and then goes back to being good and in Lord of the Rings. It's not it's just evil good. Nothing in between sounds like a good George W, bush. Press conference. Yeah. And not to mention that their secret weapons in Lord of the Rings secret weapons. Oh, the ring is a secret robot armies of Amazon. So there's that I got two more Elon Musk. Accuses head of NASA of being quote, gay, So what am I accuses? What is it a bad thing to be gay? Like I don't understand. No. See, the way the headline is written is like, it makes it sound like, oh, you're you're like as a gay man. You wouldn't know about net like something like that, but he did it in that. I'm in middle school. You're so gay rights. Elon is Elon has made the determination that being gay is an insult. That. Exactly, he's gone back when I was 12 in like 1992 and it's an insult and the boards, what we're doing and the board is rewarding him for. This Behavior along with the fact that, that profits are going down and that their loot. They've lost their share in the EV market and all that. Oh, but the reason why calls, yeah, he called Sean, Duffy who isn't a blowhard that I could care less about but he called Sean Duffy gay. The reason why he gay no he's not. I believe he's married with multiple children. Doesn't mean he's not gay but like what do I know what. Um, the reason why he used gay as an insult was because Sean, Duffy and NASA said we had a contract with SpaceX and they are not fulfilling the contract. They're they're past their timeline we and we've given them chances. We're going to reopen the Contra promise. Yeah. Another over promise. Yes. So he's gonna reopen so. So he sleeping with another man because of that. That's what he was supposed to do the same gender. That's what's happening, that's what it is. He almost doesn't do what he's supposed to do. Guy says, we're gonna reopen the contract. Elon Musk goes. You're still gay, right? Well, great. What? A bunch of fucking boys. And finally, Bill Ackman calls Trump. The most pro-business president we've ever had. Well, that's true. If business means management. Then yes, absolutely true. Um, well, he was doing this because he also wanted to criticize Zoran mondani, like, right? And he was looking for another black woman to fire somewhere. Yeah, there are there. Any left Firefly know? It's, yeah, we're losing them. Yeah. He did, he did wish that China and the US had a better relationship. But otherwise he's saying like Democrats have all the wrong policies. Democrats don't exist anymore. There are no policies. What are you talking about? New England, they do Is that so? Any other assholes? Yeah. There's just one other and it's just we have integrity for sports but not for our crypto. Yeah. Crypto, you know I mean That headline Chauncey Billups others arrested in FBI Pro blinking, NBA to Mafia gambling ring. Was the headline Kash Patel was out all fucking day yesterday. Talking about Are they nailed these guys? They got them. Like we were nailing them. Yeah. Meanwhile, the East wing of the White House was destroyed by cronyism by cronyism. Like there is this more obvious corruption than starting a crypto firm, and a token of your own, paying yourself with it. The Saudis are buying, like, whatever they want out of you. Billionaires are just writing you checks for your library. He got a donation of an airplane to his library from the Saudis. And we are celebrating three black dudes who bet on a basketball game. How about getting thrown in jail? How about this? I mean, talking about Legacy Media. I mean, there there are all in on bedding. I mean, we talked about Disney and ESPN and ESPN bets. There's not trick, there's not companies a trade on our, our public exchanges like DraftKings, right? So, this is a, this is all that is betting on. On Sports and Mafia. I mean, you know, HBO reinvented Itself by the success of The Sopranos. I mean, what are we doing here people like what is a good one? Is it bad? I'm just confused, but yeah, but let's look the other way what the president's doing and let's focus on on a basketball players. Sure, it's it's really Next Level. So those are your three and a half robot armies. Fake retirement, boys, easy. And we've got Integrity for sports but not for free. I mean, God I mean, come on. I mean this, we don't normally have easy sweeps and for the sake of moving the show along, it's obviously robot armies. I mean, what are we? Yeah, that's correct. Is robot armies? Yeah. All right, I say that that's a real thing, by the way. I know that's that Elon Musk and Tesla. He, he says the word Army. He talks about robot army. Use the word Army more than Army. Yeah Army. Yeah. And he's not work force, not not robot Collective. Now a bunch of robots that are gonna help you build headlights. Yeah. Just there's no robot Butler's. You know talks about building. Non-human. Armies is absolutely time to fire your CEO. I'm sorry. It's true. It's a bare. It's true. That's the time to fire your CEO. I'm actually being dead serious. I know you are. Yeah, I pretty sure he's not gonna get fired and Tesla board. You're already so goddamn Rich, that it's not gonna protect them. You know what? Who knows. Maybe your next CEO Maybe people will, stop hating your company so much and your car business will actually take off again. So how do you know what's gonna be a drain? How do you know the real? The reason why if you want to be like I'm sorry, they won't fire Elon Musk. The company currently trades at like, a 200 PE ratio. It's a meme stock, it will trade down as soon as musk has gone to like a 10 good. It will affect all your shares today, percent good. Then then, you know, Tesla Board. Sell all your shares and fire him and go go live in a hole. No investors don't get rid of them because they know the meme is him but they are. There are no principles in capitalism, they don't believe in anything. That's true. Believe in his ability to prop up the share price and a minute. He's gone. The concern is well ship, man. We just lost her cells. The one of the most valuable companies in the world, we took it down to nearly you something up. Well, because that's probably why our company isn't exactly, you know, making 100 million dollars a year because despite the fact that I'm like, you know, working on these shows at 9 p.m. and on weekends. Yeah I don't wait for our scene, okay. Can we move headlines? Winners predictions headlines. I have a headline. Yes, it's partly setting up my joke and my prediction, but it also just it outrages me because I just hate headlines like this. So it's doing two things Airbnb, CEO, Brian chesky. Has one question, he likes to ask every entrepreneur. Why does your company deserve to exist? It just deserve. Yeah. I just like the idea of are being BC. You Brian chesky. He's kind of like the, he's kind of like the Arbiter of like of like existence. He's just like, you know, he's the he he's the one that's kind of helps to decide whether things should exist or not. When Brian chesky was at risdee, he helped create a mascot that was a penis like for their brother about great. That guy is wondering why your company deserves to exist at all. Because I'm sure part of this is that he's, he's part of a investing, right? He's investing in some of these companies or he's got billions of dollars. And what are you guys? I got a speed round of headlines for. Oh, is that hello? Yeah, it's just one of them ready. We're quick Tesla recalls over 63,000. Cyber trucks. Due to the front lights being too bright. Oh, I can apply this recall because that's a Bugaboo of mine, that's most of the cybertrucks, right? Yeah. I mean I I feel like a lot of cars now. Basically, a blinding you at night. It's like it's difficult to see when these cars go by. Luckily, so there are many cyber trucks around me. So I don't have you get the like trim fix because it falls off and the rust fixed from when it rains because it doesn't work in the rain and just a few of the problems. But yeah, then you can get the lights fixed. Here's another one. Mosquitoes found in Iceland for first time good, they should. They also should suffer if I'm suffering with mosquitoes. How about Cracker Barrel? CEO says logo update. Wasn't woke just easier to read. Well, I think that's what she went wrong there. That's woke to be easier to reading as well. Yes, definitely. That's where you're wrong. He was like Librarians, the focus people on Earth. The picture wasn't woke because I didn't have to read it. Yeah, what? Yeah, you know what? She's taking the wrong perspective on that. She needs to call this the nonsense out for what it is and say you know he needs to Rebrand and level with people and be like look my predecessors. The the executives and the board basically nearly ran this company into bankruptcy into ruin. As you know, many restaurants are constantly going out of business. My predecessors almost took it there. I'm trying to turn this company around. I'm doing everything I can. The sign is not a sign is not woke. It's not what? That's not even. What woke means this is not it. We're we're far away from what woke is It's not signs. What's reading? And finally McDonald's CEOs says he eats at the chain three or four times a week. Do you believe that? I believe none of that. Okay, I believe that he eats their zero time. Chris's. Yeah, Christmas is pretty Chris Kim's. Yeah, he's pretty spell fire. Remember, which like he there's there's, he runs Marathon. Well, maybe he's like, maybe he has a coffee. He well, there you go. He eats there three or four times a week. He gets the side salad in a coffee. That's what he's getting his father was a well-known surgeon. Who's your winner for the week? So I hope he's not eating. A surgeon's abortion should not be eating at McDonald's ever Norby working there? What a waste? I mean, you're, you're fathers are well known surgeon. And you end up, you're running McDonald's. Do you think he goes into the McDonald's like like McDonald's are in situated in places where like you want to hang out? Is he driving into work and like pulls into the drive through of the McDonald's and orders? Does he have to pay for it? Like does he get on the like the thing where they're like, help you? And he's like, I'm the CEO, I would like my regular. Like what's the deal with that to me? If this is not the problem of corporate America in a nutshell, this is it, his father was a professor of surgery and chief of vascular surgery. His mother was a teacher and this is what he does with that. With that lineage, he's running a company that is just destroying or inside destroying people, just disgusting. All right, move on winner, give winner, my winner is obvious, it's a bit of a nerdy and sir, but it's, it's got to be Jane Fraser. I mean, no. Okay, what do you got mosquitoes? Mosquitoes are the winner of the week. They're always winners. Come on. What are you doing? All right. Yeah, but now they're in Iceland now, they can go to Iceland like Iceland's lovely. I've never been so maybe I. Yeah, I'll understand if I ever go predictions. Okay, so I set up my joke from from the my headline. Yes. Which is Airbnb. CEO. Brian chesky has one question. He likes to ask every entrepreneur. Why does your company deserve to exist? So, here's my prediction in 2070. Future. Meta Soul, CEO. Not met a soul. That that's the company formerly known as Facebook and meta Platforms in 2070. Be called meta Soul. Right. So in 2070 future meta, Soul CEO, August Zuckerberg. One of the three children of Zach, who was they're all named after Roman emperors because he's a lunatic, she has has one question she likes to ask every non-ai. Human, okay. So in 2070 future me to Soul CEO. August Zuckerberg has one question. She likes to ask every non AI human. Why do you deserve to exist? Wow, so two problems with your prediction. Number one, August Zuckerberg is a sheet. Never going to. They only have daughters. I tried, man, I couldn't I. But how come on? It's not gonna leave the family like his cousin or no, I just agree with you. He's number two, he's two into his own sperm or to zoa. If you want to feel really, yeah and 270. Yeah, Mark Zuckerberg were only be 83, right? I was doing that math too and I figured like I figured he has to eventually pull up. I didn't say he's not executive chair. I just okay. Share a Meredith but he's definitely alive. Is that his evil Offspring will be asking humans to do if it's a girl does not gonna be evil. That's the problem to the Zuckerberg is. All right? And reference to my headline. Yes. The McDonald's CEO says he eats at the chain three or four times a week, my prediction. Is McDonald's CEO. Chris kimski goes from his reported way to 158 pounds to 220 pounds inside of a year. That's what he weighs 158 pounds. 100 that's yeah, he's a runner called it. He's alright. Google did. That's what it said. My brother's a Runner 2. He's like has no body fat so there I think it's wrong but he does look like a spell man. I he balloons he balloons this year's my guest, that's it. That's a lot of free float. Come back next week, we did not do approxi countdown this week. There's not that much happening yet. There's Microsoft just released its 10, its proxy. So that's coming up. In December Tesla's, big ones coming up in a couple weeks but we already covered it. Did a whole analysis of it. So you know if you wanted to see something there's a company you want to see, let us know reach out we're here. But until then go listen to Cheryl the Primus see and catch us again next week. Goodbye.