Transcript
Oh yeah, right. This show Live from a CEO's gold-plated. Cheeseburger guys. Is that the cheeseburger gold? That doesn't sound up fully form joke. I'm not even sure. It's an all new Wacky. Wednesday edition of business. Pants joined by analysts whole, Matt mcgarty. On today's deep fake ISS sausage. Oh, I don't know. Like a vegan sausage. There's that even allowed at ISS anymore, I don't know. It sounds pretty woke. What's their opinion of a sausage? They don't have a opinions, maybe called October 15th, 2025 business nuggets. My favorite. Our show today is being sponsored by free. Float, analytics.com. The only platform measuring board power connections to Performance for free. Free. Zero, last time I checked. So here's what you do. If you're playing along at home, go to free flow, analytics.com. Either sign into your account or make a new account. And then every company and CEO, we mentioned today, you could just go and look at their page. Look at the directors. If something after you get through the, the onslaught of laughter, if you own shares in that company, you're like, wait a minute, I don't want to, I want to have a say, And who's the chair? Or who's the CEO? Whatever. Wait, vote. Your shares found out. Who the directors are vote your shares? Was there supposed to be laughter in the show? Know, I don't know. I don't know why I'm even saying anything. You ready? Ready for business? Yeah, let's do some nuggets. I'm gonna start. First section is just CEOs saying stuff. I love this CEO saying stuff. I've got a bunch of those too. It's a big week for that. Maybe we have maybe we've have crossovers, maybe we've I don't think it actually jokes. All right. Okay, here we go. Here we go. In our Hey, Ma. Put down your words search. I found a CEO that is not intentionally trying to hold American's back. Tell Dad. Headlight of the week. Sounds like a fake CEO to me her ready for this one. Jeff Bezos warned Z. To think twice before dropping out of college to become the next Bill Gates, or Mark Zuckerberg. These people are the exception. He said, yeah, this is the first CEO. Who's he's actually telling people not to drop out. Stay in college. I do have to. Yeah, the way it's prayed, these people are the exception. Doesn't that feel like like their special? You're not go to college. Isn't that? Almost a way of telling them to drop out of college, but like at least occur at the sentiment like, get your damage with him. I'm with them. I'm with them. And yes I know Bezos is not a quote-unquote a CEO but come on. He is he's the executive chair. Executive chair hate as an executive company. Come on, get over his company. Here we go and our CEO. Haunted by inequality ghost. She personally feeds. Headline of the week. That's Halloweeny. Yeah, her Halloween Best Buy CEO says growing spending power. Gap between affluent and poor keeps me up at night. Do you think it really keeps her? This is Corey. Corey Corey Berry where the CEO pay ratio at Best Buy is 500 and 1801, which makes it means that you know, I didn't do the populist math, but she roughly makes the equivalent of her median, workers pay before it launched on the first day of the year about roughly maybe. Yeah, not only that she can I think as hourly wages go, she can buy half the TVs and every Best Buy every hour. I mean, you think it keeps your up at night because she's worried they're going to come and get her with pitchforks. Well, that's what Jamie dimon was worried about. What back in the day keeps her up at night. Yeah. Does it? Yeah and our breaking news. Jamie dimon. Bravely were warns World about things? Being complicated headline of the week? Oh, I love Jamie Diamond. I love Jamie. I love it when he bravely warns things, one of my favorite headlines about Jamie, Diamond, JP Morgan CEO. Jamie dimon says, There is a heightened degree of uncertainty. Whoa. I don't know, is that Since the dawn of of homo sapien like aren't we surrounded by uncertainty now is a height degree in. That's what degree of where she could quantify that, and would that be ESG right there? Is that ESG data uncertainty? I was like him to give it a score between 0 and 10 to say, uncertainty is the seven does msci. Does they have that data point uncertainty? No, no longer. Yes, G, no longer exists. in our, Economy feels great say men who owned it headline of the week. There's a shocking disparity between how high income and low income earners feel about the economy. Corie Barry said, Matt. This is from There's a shock. What? Well, let's be yeah. I mean like what is this? Shocking disparity shot. I mean I think they finally figure out what a CEO pay ratio is okay. All right, and finally before I hand it off to you, In our meta removes Facebook page, where billionaire, discovers sharing headline of the week. As billionaire. Well, Source, 33 trillion dollars. Even I, I can't even believe that. Is that real? 33 trillion dollars. Yeah, as billionaire wealth Source. 33 trillion dollars. Mark Cuban says, it's time for workers to receive a cut of their employer's success in the form of stocks. I mean, look, I know. It's a totally obvious brain dead idea Mark, but hey, I salute you. I mean, that's of course, the only one saying it really that's the shocking thing. Corie Barry at Best Buy, she can't go to sleep at night because people are poor. Mark is just saying the obvious. Maybe it's time to start sharing our scene. Well, give them some of your money. Yeah. Because I mean his poor, if you give them something, I mean, at this point, I don't even know. The what percentage of America is works at a corporation, it must be pretty high at this point, right? I mean, there's like two million people who work at Walmart. Is it more than let's? Let's say is 127%. I made listen to Mark people. Just listen to Mark. Yeah. All right. What do you? I have a lot of weird ones. Today, he wants some weird ones. Course I love weird ones. All right, let's start with this in our the SCC which is steadily been rolling back regulations, finally moves to strengthen protections for investors. Oh, wait, what? What this this is the Philippines they have an SCC headline of the week. Analysts see stronger transparency from sec's, proposed ownership disclosure rules. Oh, you know, I tagged that that's not even, that's not the US. It's in the Philippines. They have they have a security standard, a version of the Securities and Exchange Commission that is Filipino and it's their SEC that's actually strengthening protection. So excited, I love disclosure. in our, the Filipino SEC combines investor protections with rollbacks on shareholder proposal. Oh wait. This SEC is in America headline of the week. SEC chair speech could spell death knell for non-binding, shareholder proposals so great. I mean, weren't they aren't nine but non-binding share proposal already. Kind of dead. I mean, what a couple things first of all, it's nice to know that there is an SEC that strengthening something for investors. That's nice. You have to go to Philippines to find it Paul Atkins of our SCC in the United States of America has just announced that he's revisiting a rule that has existed since 1942 that allows investors to have what's called, The precatory Proposal proposal, that is non-binding, put out there so investors can vote the number of those proposals that actually win is pretty close to 0%. It's like, they don't win and dimension. That we cover this every week. There are Barrel. There are barely any shows in the first place? Yeah. Now there's almost none. And now he's saying, let's get rid of them entirely. Oh, no, no, more of these proposals. I actually am okay with this because maybe finally, We found out from a survey that we covered 50% of investors, 52% actually of asset owners vote on shareholder proposals. They look at them. They vote on them. They don't vote for them, but they look at them and they do due diligence and take them, seriously, where 35% of investors vote at all and the lead. One of the least material things they thought was board composition. Now, they would literally be forced to vote on boards because there's no more proposals just born. That's like, that's like going to the Yankees game and not booing the third baseman, but you Boo. The like the theory. But, no, it's not even that it's like the theory behind the sacrifice bunt, that the manager put in like, you could you can vote on like, weird, esoteric theories, but not on people. You can't poop people like that, right? You can't do that. So now finally, you can boo your third, baseman, finally. I like it. How about this in our in his speech SEC chair, Paul Atkins at the United States SEC? Yes, aimed to get back to 2007. I mean 2007 was pretty good, but I feel like we should aim higher like 1999 that year was so good. Prince wrote a song about it, write 1972 was pretty good too and remember, 1881 does anything, does anyone know if anything bad happen? In the Years? Following these years headline of the week, the rules of investing or being loosened, could it lead to the next 1929? Well, I A dark and pessimistic in jaded, but it doesn't it feel like what we're headed towards? I mean, isn't that the next great thing that will help the wealthy class is to just Bankrupt, how to economic crash, stock market, and let the mall go in and just buy it all up again. He's amazing thing. Yeah, Paul Atkins. The SEC chair did actually say in his speech that he wanted to get back to 2007. That was one of the that was one of his ideas right before the economy, tanked public companies in 2007 was great. And then today, it's not great. And he said he wants more public companies like in 2007. Now, if you remember your history, 2007 was the year before 2008, which was the great financial crisis. I mean, all the companies declared bankruptcy, even Andrew Ross, Sorkin of New York Times dealbook who's not exactly like Zoran mondani. You know, he's friends with the CEOs. He's actually going around this last past week kind of kind of worried about what we're heading towards another 1929. He's kind of he's starting that conversation. Yeah, it's nice of him to start a conversation to say and like, you know, maybe we should pay attention, the only reason why Andrew Ross and would start that conversation. So he is hearing it directly from from CEOs. Yeah, that's the only reason why you start that conversation In our even Antarctica is anti-woke headline of the week, researchers. Find methane leaking out of cracks and Antarctic, sea bed. I don't really get it. What do you oh? So leaking methane anti-woke is like we're going back to Coal, right? Yeah, right. Like methane leaks is pretty anti-walker, right? Yeah, back to methane, coming out of the ground. That's great. and then I'll do one more and then you can do some more because I'm tired in our I mean, where will they even find one? Finding Merit in the meritocracy, is hard headline of the week. Disney to hire White actress after woke Fury. Huh. Does that not say it all? But what auntie auntie will really is, I mean it doesn't that kind of it doesn't that announce what this is always been about. I'm I'm actually I don't know where they're going to get one. Just, I'm a little worried. They can't find a white actress anymore. Yeah, so just everywhere and knows attacking. Whoa. Calling things woke is basically just attacking black people, that's it. Yeah, yeah. I think we've established that so yeah. Okay. Well, I'm just saying this headline helps me understand. Because Disney's because hiring a white actress, I guess is the antidote to woke. Yeah, that's the that's, that's that's, that's not what to your point. I've never I've yet to see a white actor or actress. I mean, I'm sure they exist but I don't, yeah, I don't, I don't know where but I've heard of them. All right. Now I'm gonna do a section called Big Tech Baby Bros ours. Yeah, good name. You love these guys. You love dictator Baby, Bro. Called I love a good man. Baby heart getting back to my last show which you probably don't remember about meta. Removing a Facebook page about a billionaire sharing. Here's the real headline actually in our Zuck bands, the Pitchfork emoji. For inciting peasant, Rebellion headline of the week. Meadow removes Facebook page. Allegedly used to Target ice agents. After pressure from the Department of Justice. How about that Free Speech? Yeah, that's like, literally wait speech. This is what he complained about during the Biden Administration, you Dopey College Dropout, billionaire. So American citizens are concerned that that big Burly men wearing masks are coming after Americans and like throwing them in advance that there really. That they're worried about that. No, I just shocking shock. Okay? Every time these these, these fuk faces open their mouths. You have to know, now, they're just big fat Liars. It's always. Always, always always about the money, because if you're gonna go out there and talk about how like woke and like was killing free speech, and the Biden and administration was demanding, this and demanding that we were always uncomfortable with it. And then Nine month, 10 months into this Administration, they're moving Pages because the department, the Trump Administration absolutists, what happened to free, what an absolute is out for Jimmy Kimmel, I guess, not are these not the same people who are busy building, you know, billionaire bunkers and preparing for the apocalypse so they know something's coming, right? Yeah. They're getting ready. Yeah. Yeah. They're prepared in our AI. Finally achieves consciousness. Immediately tries to sell you toilet paper, headline of the week. This is a real headline. Walmart teams with open AI to let Shoppers buy products through chat gp2. This is America, right? I mean, this, this is America at its best. I'm gonna, I'm literally at its finest. Can I buy some toilet paper from Walmart? Oh, It's gotta be from Walmart, like, Oh look at that. It says it actually suggested Amazon and Walmart as well soon it'll just suggest Walmart I suppose that's good. That's good, that's great in our College Dropout forms, Safety Council. to protect World from thing, he built, Headline of the week, open AI, forms expert, counsel, to bolster safety measures after FTC inquiry. This is about basically, about kid's committing suicide. After they spent too much time on Chachi PT. We already did. There's already an oversight board for meta. This is the new thing. This is the thing. You actually build something that destroys Society instead of pausing that thing you're building. Yet you'll hire a council whose quote on quote independent to oversee, the thing that you're building that destroys things and just because I'm so irate with this concept in general. Let's do this one again in our open, AI promises safety. Just as soon as it finishes, monetizing danger headline of the week. Open AI unveils Wellness Council, Suicide, Prevention expert, not included. So I guess that's one of the things is that this is been set up to prevent suicide in adolescents, but there is no technically, there is no person who's skilled in that particular. It not only that Matt to make this worse. The first meeting of this new Council was spent talking up the benefits of Hope of AI for mental health. For no, I'm serious. Do they publish the minutes? No. But that, but the article State I think this is from fortune or this one's from CNBC and artists Technica. The first meeting was spent before they got to the scary stuff and the dangerous stuff. They just wanted a pet themselves on the back of how great this this this reel is great, this AI is just so you know like Are their old brother in arms and The Meta oversight board, which is a real thing. People go to like just Google oversight board, it'll bring you medicine like that anymore. Yeah. They you know it never appears anymore and part of the reason why it doesn't appear is because it was always meant to be a Gaslight that there was a wash we don't but we don't need to really we don't need to wash woke anymore now because we're free speech as we got rid of it. Yeah. Except for the fact that their most recent decision at The Meta, oversight board revolves around two posts from late 2024. That's that's what they're, that's what they're waiting on right now. Yeah, it's, that's timely. That's useful. Yeah, yeah. And finally and in a section called crazy time. I got because I just had to do this one and our This headline speaks for itself headline of the week? Oh, I know, I didn't feel like riding a joke. One to say this headline. I just like because I just can't wrap my head around this one Department of Justice, season's 15 billion dollars in Bitcoin for a massive Pig. Butchering scam based in Cambodia. But there's so many things I don't understand about that. Yeah. I I don't even know I don't even really I don't totally understand Bitcoin. Yeah. I'm if I'm honest I don't know anything about Pig, butchering scams. I don't even know what the scam could be did is the scam that you didn't butcher the pig or that. You did butcher the pain or there were no pigs. They identified a man, the alleged Pig butcher, who was the founder? Of course the founder and chair of Prince Holding Group a multinational business, glamour base in Cambodia. You know, this is just a different version of what suck and musker up to, it's just it's pigs. Yeah, Bitcoin is just the greatest ever like kind of massive money laundering scheme for people, right. It's the greatest really the best, it's brilliant. Yeah, we love Tony Soprano. But I mean come on I mean what every episode be about Tony Soprano like with his big crank password. I mean, he got. All right, here's a couple of end. It in our In the book of feel chapter 2 verse 14. Jesus said AI, is the anti Antichrist and the Antichrist is probably Greta thunberg. Oh. So thou must build the AI to stop a 22 year. Old Swedish environmental activist lest she saved a single whale? But I much prefer the book of Andreessen chapter 1 verse 17, where the Lord, decreed thoust should wash the feet of the billionaires for without them. You could not put dog ears on your selfies or cyber stalk. 14 year old girls, headline of the week? Audio of Peter, teal secret, Antichrist seminar, just leaked. You know, we haven't spent a lot of time on this one, have we? because when you read the audio that leak or listen to it, it's like, Bonkers bananas. Is this? Why so many founder? CEO chair called dropouts are building apocalypse bunkers, like, billionaire bunkers. This one because they're all, because they're about, like, they're all about that shit, crazy, they're all. None of them are living the real world. Anyway, I just I don't I don't know when he come. When did we get here? How did we get here so fast? He actually said that. Greta thunberg. Yeah is the Antichrist. She said she's the know. He know. Yes, I swear to God that he said she's the young a young environmentalist on the Spectrum from Scandinavia with no money, right? Like no like, what's her like? What? Because she's a lot. He said, luddites are the Antichrist and he said Bill Gates is probably not the Antichrist because while he was like probably not. Yeah like literally he was like speculating. He's not sure. He's not sure who the Antichrist must be. Oh, what if he was the Antichrist, wouldn't that be something Peter himself? Something people are paying to go. See a guy sit down to be in the same room with him and literally come up with who he thinks the Antichrist might be maybe five. Hey, Peter. Maybe I saw a headline, maybe it's a zzz Ari the comedian and actor because I read today that he doesn't, he doesn't have a smartphone and he doesn't use email. So I maybe it's him. Alright, definitely him. I mean definitely closer to the maybe when you walk when you watch Parks and Rec maybe you kind of conjuring the devil a little bit, right? He also he apparently shit on Mark Andrews and he does not like Mark Andreas Peter teals. So yeah, he said he said that. Remember the Techno Manifesto first. Yeah, he called it gobbledygook. Well, a man talking about who the Antichrist was. Oh, another guy who wrote A Manifesto about like the tech takeover listen, Gobbledy good to all Tesla shareholders. All investors of Tesla who are weighing in now and deciding how to vote. Can this be exhibit? Number one to why we should shut down all exorbitant CEO paid back and just their batshit crazy and they don't need the world's wealth because we don't know what they're gonna do with it because they're crazy. Well, here's the terrifying thing. Peter Thiel is on the board of palantir. The company that wants to watch everything, you do is production his Protege. Yes. Yeah. Marc Andreessen is on the board of meta coinbase. And some Sara, these are these people are not like batshit crazy. Under a bridge of night, you know, Route 95, they literally run the global economy have billions of dollars at their disposal and they sit on corporate boards. Directing the people who run those corporate boards. Yeah. And they and they create products that keep us so, goddamn distracted, that no one really has. A everyone's been kind of put into a somber, like, no one fights back anymore, because we're all distracted by every little Instagram, reel. Let me ask you on the list of things in the meritocracy, got on stool talking about Antichrist. Does that? Is that Merit a board position? Is that somebody you want controlling your money? No, just just a question. Yeah, I might even go for the joke there. I'm just gonna say no. What else you got? Come on in our if a tree falls in a forest and no one is there to hear it. Does Sam Altman. Worry about it, headline of the week. Oh, I see what you're doing there. Yeah, go ahead. Sam Altman. Says, if jobs get wiped out, maybe they were not even real work to start with. Oh this is what they call The College Dropout and I was weighing in on the economy and jobs and okay. Interesting basically said if AI can do your job, maybe your job was never real right. There you go Sam. That's congratulations. You know you've spent their life time thinking about these. Oh no I guess you really haven't. Yeah. In the 1800s when people used to feel like go get crops and then they invented like a Tracker, the people who went and got crops that wasn't a real job like that for 10,000 years they were doing something real that's that's what he saying. in our, this doesn't get better in our if Sam Altman worries about a sexy, AI chatbot, does it grow a penis headline of the week? Sam Altman says chat. GPT is getting into erotica by the end of the year. Okay? First of all like can we be clear here? First of all, I have two things, two immediate reactions, one of course this is gonna go nowhere. Good but two is is he is that is that like his way of saying porn? Like why is he saying erotica? It is because he's a three year, old boy right? Is he trying to cover up the reality of what's going on here? And by the way, Mark Cuban all so weighed in on this today warning us that this is gonna be a disaster. Yeah. Oh, deep insight for you for anyone, you know, for adolescents for children? I mean loud, know I would have never expected. This is he the last saying person left in this billionaire club billion dollars? Yeah, I mean, I don't know, but in conjunction with the last thing it does make me think that Sam Altman thinks sex like porn industry, sex workers. That's not a real job because now chat, GT can do it, right? That's is that what he's saying? in our, if a Gavin Newsom allows AI to have a penis. Does a Sam Altman, get a billion dollars headline of the week. Gavin, Newsom vetoes, Bill to protect kids. From predatory, AI. Do we know, do you know anything more about that? Tell me more about that. So he vetoed it. Because he said it was so restrictive that it might actually totally ban AI entirely and obviously, he doesn't want to do that. So because I like that there's a lot of money in California, so he vetoed it. Yeah, but now in the same week that he vetoed it, Sam Altman says they're getting into erotica. Same exact week. Could you be stupid, right? What are we doing? What are what's happening? Yeah and finally yeah I like that. That's my favorite word of the show. So far was finally. If a Jamie diamonds says, so oh. Does a sexy AI with a penis? Have a 30 percent chance to ruin the economy, headline of the week? Jamie dimon gets real on AI sees stocks in some form of bubble territory. Oh you think Jamie. Jamie I love the Deep insights. Yeah, between that and Mark Cuban coming out with deep insights like A chat GPT and erotica with bad for children. At least Mark is like attempting to have conversations about helping people or warning things. I don't know, I don't know. Jamie dimon told me there's heightened uncertainty this week, so I now, I know I didn't know before. That's true. That's, that's not wrong. I'm gonna tell him at Mascari we are free float. This was Biz nuggets. Yeah, good. You know what? We go to your proxies, go to the go to the boards of all these companies we just mentioned but some people vote somebody out like, vote somebody out. Like it's not that hard. Do you protest vote? An email find you. In fact, you probably in front of Netflix tonight with your iPad like while you're watching some mind-numbing show that you don't know, when needs to watch making Reed Hastings, another billion dollars, Want to you also like vote out some directors on your iPad? Like, that's right. And if you don't know how to do it but you know that your pension fund is that Vanguard just go to, you know, vanguard's website. Email investment stewardship at vanguard.com and tell them vote out these directors or tired of, you know, this ridiculous. These headlines should not exist. They should not exist. That's all we got. Come back on Friday when we wrap up the week until then good. 5.