Transcript
Oh thank God. That's different music that's different. It's temporary. Every show you nuggets live. From inside the brain. Of an ISS proxy analyst. Yeah, featuring The maybe low. In the perhaps a Bellum. I mean, what side joke, we're stretching a bit there. It's a whole new, terrific Tuesday edition of business fans joint by analysts whole map mascardi. Yeah. On today's very unserem. I do love nuggets. We don't do the Mario often and maybe a figma IPO quiz, I'll leave it up to you at the end of the show, I have a quiz based on the new hot IPO figma IPO. And I realized that, Maybe the world needs to understand this company from our perspective. Now, just from the normal perspective, what's up to you all up to you. I, well, let's wait till the end and I'm gonna guess every answer, the question you asked the question? Yeah, I feel like you've seen this show before our show today is being sponsored by free, float, analytics.com. The only platform measuring board power connections and performance for free. The platform broke 500 users or 500 users. We have a new Zine that we came out with. Can we put it on the platform or no, I tried to put it on Reddit yesterday and I mean, you know, the company can be run by a bunch of graphed wielding, nightmarish, billionaire babies, who use their companies to, you know, sell Gold Bitcoin, do whatever. But I can't even post a heavily researched. Zayn on Reddit of all places. I read. I love that the moderators, pulled it down like four seconds after two Earnest. Too much research, too many facts, not enough control rolling. They didn't give you any reason but you didn't say diamond hands enough. Probably in the pose and like I like, I like that, you know, the president literally, his son starts a SPAC. Yeah, that like is going to Target. Like, whoever the government's going to give grants to. Yeah. And they're and their social media companies selling like some kind of what like Bitcoin. I don't think they got bigger. They got crypto, they got like just and we can't post a Zine with news headlines, in it in facts. Hey, ready for some business nuggets? Yeah, it's not make it funny because it's not funny yet. Well, these aren't really funny. These are very unserem. Our treaty talks begin with bold new commitment. To avoid commitment. Delegates agree to form a task force to consider considering action. And then unite to say plastic is bad. Then go back to their plastic filled hotels headline of the week. Wow, that's a lot of soccer tourism. Here's what to watch for at this. Month's Global plastic treaty talks. I want to tell you something about this treaty, this is going on in Geneva, Switzerland. Negotiators from more than 170 countries. Flew into Switzerland, right in plastic airplanes. I mean if the The this event is lasting 10 days and this is eight months after they missed their original deadline. Right for finalizing, the packed. So they're hoping to come to some agreement and plastic pollution. But the progress has been slow at each of the five preceding sessions in large part due to a consensus-based decision-making structure that has allowed oil producing countries to obstruct progress. Can you believe can you believe the world the world to me is just nutty. It's not plastic, takeout containers, do you think got thrown away during? I mean, the last time I was in a hotel, like, I just feel like it's just plastic around every corner. Everything is like, an individually wrapped plastic straw wrapped in another plastic straw wrapped in a plastic, so container I don't know what's going on. Yeah. Why can't they just do this over, Zoom? What happened to zoom? It does. It does seem like this is doable. If you just said plastic is bad, how do we get rid of attended? That's ended and our, hey, Ma The dude who got his ba at Haverford College, which costs 93.6 thousand ninety three thousand dollars, 600. Hey, Ma the dude who got his ba at Haverford College, which costs 94,000 dollars and received his JD from Stanford, His mansplaining about Elite colleges. Can you grab my water bottle my red lawn chair headline of the week? Oh wow. Here's right after that. Yeah. Palantir. CEO Alex karp. Takes a shot at Elite. Colleges and says, the company offers a new credential independent of class Isn't that great? A lot of mansplaining, dudes from Elite colleges. Now telling everyone don't basically don't, don't go to college just What is the? Credential that they offer. I don't go to college. I guess. It's like some Elite palantir certificate or something. It's like the word elite become like a dirty work. I thought every don't we like Elite athletes and are we allowed as an elite person allowed to immediately? Say, Elite sucks. Like how shouldn't there be a 20 year grace period? Where you come from Stanford, you become a lawyer at Stanford and you're already allowed to crap on the elite would Alex? Karp say that he is. Elite like he's a definition, she's not the definition of elite get his background and going to like expensive fancy colleges, but billionaires Elite billionaire, who runs a company like that? Isn't that like Elite, isn't he like amongst analysts of human beings? I, it's just someone or I want to go do though. It sounds fascinating. So the credential he he's there. Offering is permanently poor. Credential what they're doing is that They're they're speaking to one half of the country and they're reminding them don't bother getting educated at his point list. They're like don't look at me. But believe that anything that I've done to get successful in any help I've had on the way? That sucked believe the myth that being uneducated is the way to go in America. And that way we can tell you anything we want to tell you forever because you're not educated enough or Elite enough to understand it anyway in our It's better off, helping people without formal biological biology, expertise design, or recreate, biological threats, like toxins, or pathogens headline of the week. Open AI says, chat GPT shouldn't tell you to break up with someone. You know, I asked Chachi PPT like tell me some of the things that Sam Altman is a freedom of that's going on with Chucky. And remember now that Sam Altman, runs the company that right of everything and they came up with a very, very fast quick long list, including the fact that he's afraid that chachi's gonna help people create these bio weapons. But yeah, let's be worried about whether it's going to tell you to break up with your Dum ditty girlfriend. Do we really need to be worrying about that? Break up? Who cares? Savor Savor like from your future mansplaining? Yeah, so just yeah. I it's like, oh yeah. Anyway. You know, in our what an asshole. The next thing he'll probably do is call out other banks for breaking their climate pledges headline of the week who foreshadow banking CEO breaks from the pack on return to office. He goes in four days a week but leaves the rest up to the adults. He works with that's this is Standard Chartered CEO Bill Winters who seems to basically be saying the right thing about everything. What is he? The only guy who like treats his employees like an adult and act like a human being and, and calls out banks for for, you know, going against their climate pledges? Yeah, he's like, he's my one of my new favorites. This guy. CEO Bill Winter's. Well done Billy. Yeah. And finally, in the I'll hand it off to you. Matt, for this one in our citizen journalists, Robbie Starbucks, and the national legal and policy Center. Prepare shareholder proposal calling out Microsoft. And asking what about men's overez? This is woke biology. Gone too far. Headline of the week. What about it? Gates Foundation is giving 2.5 billion dollars to fund women's health research. Now they should be suing, the Gates Foundation. This is discrimination, this is absolutely discrimination. Yes, everybody needs to tell you white men in everything that they do or you've discriminated against. I mean, they should go right after Microsoft right there. The spawn of Bill Gates. This is tragic. This is tragic. It's too horrible to let me do you got me some stuff, okay? Ready? Yeah, I'm exhausted already. Yeah. Go ahead in our 8, K's revealed that Charlie sharp. Well, Wells, Fargo. CEO was awarded 30 million to open his mind space. Stephen Hemsley at United Health was given 60 million to Center his Chi and Goldman CEO. DJ D Saul got 80 million to a tune, his crystals and a line, his money Aura headlight of the week. Tesla Grant's musk's 29 billion in stock to keep elon's energy focused. Yeah I wasn't gonna touch you touch this one. Yeah so I mean think about think about that the first three that you cited all really huge important companies. I mean Fortune 50, maybe. I don't know. These are some of the biggest companies in the world Wells, Fargo, United Health, Goldman, those Retention bonuses that they gave to those CEOs are absurdly. High there, 30 million, 60 million, 80 million. This is just like unbelievably high amounts and then we get the headline about 29 billion dollars ahead spin, right? Like 29 billion. How what are we supposed to make of the world after Elon? Does things like this? So the dice section of that. Yeah, Matt Levine did in his and his his newsletter yesterday but it's basically He gets 29 billion if he stays on as an executive in any capacity at Tesla for the next two years. Yeah, well that could be anything. He makes up because the board will prove any executive matter. It could be a one-hour, a month executive title. The board will say, sure, that's that, that's his Focus to energy. He only focused it into one hour, but or if Delaware somehow reverses its invalidation, they won't of his of his prior package. Yeah, they also did it in a sneaky way, which, and lived in of the shareholder, Primacy podcast pointed out, which is to say, they didn't have to put this up for a shareholder vote because they used the 2019 plan and the 2019 options strike price as the base for this. They basically very cleverly said, we're going to give him 16% of the company, no matter what. Because you can't fight this in Texas, he can have a make Believe, it's really great. Yeah, I was gonna say what's, what's worse about this too? To me is that they've already moved to Texas, right? So that's an area. This isn't why he said they're not why there they can't control the pay package and in may they Tesla very quietly changed. Its bylaws to limit shareholders ability to sue for a breach of fiduciary duties, only shareholders who own more than 3% of the company's shares. Kidnap can now Sue and that's only Elon Musk and then two entities that will never Sue was like Vanguard and black. Yeah. So that's it. That's a beautiful. The only people could free market and meanwhile ESG research is bad because that's not capitalist, right? Like that's made up, you can't do that but you can do this. So In our, let's go ahead with Tesla here in already. Exhausted from our anger. Go ahead in our specifically, the part where they ran someone over headline of the week. Juries says Tesla was partly to blame for fatal crash. I think the part. Yeah. Where they ran someone over was the part, they blamed them for. I didn't look into this. I seen that Tesla owes like several hundred million dollars for this. Now what, who else was responsible? Not just Tesla, but it's they said Tesla was 33%, right? So when the other two thirds it was the driver and I guess the person he's three how much is Jesus involved with this? I don't like 4%. I think there's only in our, Did the awning was made of cyber truck trim. The tables were actually crashed Robo taxis and the chicken wings were made from old Nazi bathroom. Graffiti headline of the week. Tesla, Diner, patio covering collapses, smashes mother on head, and barely misses baby. Okay. Well Mr. Baby. It didn't only because the mom was taller. Really? She yeah, she blocked it. Let's be honest, I mean it hit the mother so it did she blocked her head. Yeah I got to say, we're now in this, like we've talked about this a lot. We're in this like, post sarcasm world, you know, a lot of comedians have complained about this. Like how do you, how do you sarcastically, do anything to make Trump is president, but even when we do these nuggets which is we're just making fun of the headlines. I, I tend to start, I get a little bit of a trance, I kind of like stopped paying attention, and I just kind of believe, when you said the awning was made of cyber truck trim. I was like it probably. Is it could be it right? Like falling. Yeah. I don't know what to believe anymore. What else do you have? In our retention awards, for continued leadership or pay for focus. Oh paid a show up. Oh, pay for energy. Oh, what about relocation? Pay for my sister's cousins condo and Ottawa headline of the week? 2025 CEO priorities. That was the headline. And the immediate thing that I thought were all of those things that the priority would be a retention award, a relocation, pay pay to show up to work. But no. Do you want to know some of the things on the real list? Yeah. Go ahead because I don't believe that any CEO's cousin lives in the auto in 2025, According to some people at Harvard Business Review. Yeah. Just 25 25th and Regulatory landscape. Yeah. That sounds like something. What about access to talent and Workforce. Yeah. That's a thing to be to prioritize. What about driving performance? That's seems pretty bold. Yeah. Or or navigating? Geopolitical uncertainty. Oh, it's a big one. I mean this stuff is heavy-hitting. Yeah. And this isn't even Jeff. Sonic bill. This is Harvard. Not you. This is their priorities. Really. This is what CEOs Are prioritizing buzzwords. They prioritize buzzwords. I need to do one more and then to take over, in our, If you can't tell your kid with a fever of 102 to suck it up, and fuck off. Oh maybe this company isn't for you headline of the week. Five things, the AT&T CEOs. Sweeping memo says about where Corporate America is headed, I have. Okay. I haven't, I saw this headline and I don't know what those stories about, go ahead. Okay. The CEO's name is John Stanky, great name stinky which I that's why they didn't put that in the headline. Yeah. You weren't gonna put that in that line to be. Yeah, here's a quote. In a self-directed virtual or hybrid work schedule. No, sorry, yeah, a self-directed virtual or hybrid work. Schedule is essential for you to manage your career aspirations and life challenges, you will have a difficult time aligning. Your priorities with those of the company and the culture we aim to establish Okay, he basically said if you have life problems yeah you're not going to fit in here. What kind of memo is this? Meanwhile the dude who runs a bank, not just like a stupid phone company. Whatever it runs up. Bank is saying all treat my workers like adults. An unbelievable to me. Yeah, that the CEOs like all because what they want them to come back to the office because they're paying for office space, as if you don't have record profits with people, not in your fucking office, how about this stanky? Why don't you develop some, like wild system to actually evaluate the performance of your employees? And then and then and then look at what they're doing. Make sure they're doing the job that you hire them for. How about that? How about John stanky's, executive assistant? If you're listening to the show, and I know that you are right down every second, he's not down in the not in the office. Well, keep a log and then we can send it to him and find out that 89% of his time. He's not in the AT&T offices and ask him. If life challenges or a hybrid work schedule is essential for you and you're having a difficult time. Aligning priorities with those of the company. And you know what? I know your priorities are, are articulate. A vision drive performance navigate geo-political, Uncertainty. See how I did that back to back. Yeah, plus one goes to the Cubs game. He's a business meeting. It's a business, it's a business, it's a business. All right, I need to sit down. I will say this about Matt Levine Bloomberg. I know it was is immeasurably more popular than we are. But better at his job, but does he have a Zine know? He just not have no. Better. I don't know about that. Well, I don't know. There's no, there's no Quantum quantifiable way of asserting that. Yeah, he's better in our I refuse to celebrate until we reach 7.3%. Yeah. Headline of the week. I'm with you. Yeah. The share of female CEOs running Global 500 companies hits a record, high of 6.6%. Yeah, hold up for 7.3. Yeah. 6.6 I love celebrating these record high. In that headline, did that really does that really the main focus of that story is the only one to start by this in the world, is the prior record 6.3% and it went up to 6.6 like prior record. Is it woke for me to say this is utter bulshit that this is. Okay, that well look, you gotta have a headline and we are talking about Fortune, right? It's and, Now, our Houston, American Energy, Corp announces that. Finally, the phrase. Let's hear what she thinks. Can be said in the boardroom without an immediately ironic chuckle. Now it can be an authentic condescending, chuckle headline of the week. Houston. American Energy Corp appoints, Martha Crawford to the board of directors. That's the first woman in the board, first one. Wow. Hey, this is amazing. This is exciting for Houston, American Energy Corp. Very exciting. A woman. Can I asked, was this was this in an 8K that they disclosed. Let's hear what? She could have a condescending chuckle now. Yes, yeah, I would love that 8K in our Great. When he's done, creating a practical application of cold fusion. But he explained why anyone would buy a cyber truck? Have been finished. My daughter's algebra homework. And then shared the wisdom behind Intel stock price, being down 22% from the day. He started, its until Intel CEO had landed on the week. Jim Cramer on Intel CEO quote. He totally understands everything and quote. Everything. Yeah, why is that? Why is that okay? And why is ESG like research and data? Not okay, why is Jim Cramer saying things like that? Why is that okay? Where's the, where's the Congressional probe about CNBC allowing people to say that CEOs understand everything totally his opinion wasn't. So a woman should be on a board. So his opinion that opinion is justifiable. I'm probably the most popular financial news understands it all. He totally understands everything everything. Yeah. And our You can see that this section of the show just getting off into absurd land, so I'm sorry. And now our after a nice brunch, they went to the aquarium and then to a poetry reading. Headline of the week. Mary McDowell joined zebra Technologies board of directors. I don't know. I just, I just thought, like, when I heard join, I just Sunday out, you know, I got you. I got you. Oh yeah, I'm losing it. And finally, in our They named him Peter sample. After their great-grandfather. And then chained him to his desk headline of the week. Whoa, deep pop names. Permanent CEO. Oh personally it was first they named him and then they they chained to me. They named him permanent CEO. Yeah. But they had to give him a name, right. I mean they he needed a name. Peter simple was a nice name. Was that I think they were on mushrooms. When you what do you got? Come on. Let me do a couple more and then we'll get out of this. Yeah, Look quiz. It's up to you. I'll see how exhausted you. I think quiz might be worth in our Us companies giving investors a break from voting, no, on every shareholder proposal this year headline of the week. Us companies deny record number of shareholder votes. Oh, when I read the Ft, Wright, us companies were going SEC actions against Cheryl proposals and there was a record number of omitted proposals this year, by this sec. I thought. Well, that's great. Because investors don't have to vote, no one all of them right now, right. The average ESG vote proposal was like, 20% for that means the average vote against it was 80%. So what are we really talking about? You don't care. You don't care about that. No, I care. I'm, I'm listening. I'm letting the audience absorb technology. Come up their own conclusions on that. Yeah, in our Please don't say suicidal ideation aggression reality Detachment hallucinations. Please don't say suicidal ideation aggression reality Detachment and hallucinations Please say suicidal ideation aggression reality Detachment hallucinations headline of the week. A new paper just found something horrifying about kids who get phones early and life. Chief scientist. Tara. Tara, I'm not gonna say a guardian. Yeah. Found that among the more than 100,018 to 24 year. Olds whose outcomes, they tracked, those who got phones when they were younger than 13 experience more. Suicidal ideation aggression reality Detachment and hallucinations as they age. Yeah, great cool. The Age of Anxiety. That's what I'm calling at The Age of Anxiety in our Man leaves Jim and goes to Wendy's to get fit headline of the week. Whoa, whoa, I like that man leaves. Jim and goes to Wendy's to get fit. I like that Barkley's leaves. Net, Zero banking Alliance to combat climate change. Wait, what? What's the headline? I just came with that line. That's who did that one looked that one up Barkley if you want to prove your commitment to transitioning. In a climate reality, that's a disaster, feel free to use free float data and vote out every director that underperforms on climate. There's a simple way to transition. Okay, that's simple. Just do that start with that. But I love that headline Barkley's leaves. Net Zero Alliance. Two combat climate change. Yeah, that's cool. Good for you Barkleys In our Olive Garden. A points car mechanic as executive chef headline of the week. Yeah. Harley Davidson board appoints Top Golf executive as next CEO. I mean, really in some ways, is there anything more different than a Harley driver in a golfer? All right, his name is Arty Stars. He's been the he's been the top golf CEO already started Stars. He was Pizza Hut. He's on a non-profit board that helps underprivileged children get education. He's got an economics degree from Princeton Abu Alex. Karp. Would not like that one. And he in his bio. He says, he enjoys hiking playing golf and listening to live music. He sounds exactly like everyone who rides a Harley everybody. I've ever met, who had a Harley? Yeah, good luck with that. Yeah. And finally, let's wrap this up. This is this is nonsense called at this point in our houses. and this is an upper, Yeah, in our someone is actually fighting. And of course, it's a female founder headline of the week. A long-running anti Dei lawsuit, could help companies defend themselves from Reverse Racism claims. Ooh, this gets back to your point about do something. Well, when you were talking about the which, which one was it? The banking? No. Not the bill Winter's. Oh yeah. No. Foundation. Here giving 2.5 billion. Um, Women's Health, Elizabeth Gore of hello Alice. Which is a startup company. Is fighting Stephen Miller's. Ooh! I like this already Eagle legal firm AFL. Yeah, they brought a suit, Stephen Miller brought a suit against hello. Alice of all places on behalf of a white trucker in Ohio said, yeah, he said he didn't get a shot at a grant, that went to someone black. Oh, Alice provided. Yeah. Hello Alice. Actually provided it to Progressive the insurance company and they had a program for black, you know, entrepreneurs and hello Alice as a result was ensnared in the lawsuit. While everybody else is cowering. The ivies Brown's cowering Harvard Columbia throwing like cowards. I will say this to honor my New England brother. And although I guess Brown is New England is that there was a article of the Harvard Crimson yesterday. The student journalists are trumping, the New York Times saying that they have reporting that Harvard is actually Not making a deal. There is no deal yet and that there actually are thinking of fighting this in court that they're not. So we'll see what happens. They have so much Goddamn money, they absolutely should fight. Yes. So the New York Times kind of Spun that story, kind of wrongly for some reason. But anyway, keep going, but where that's happening, and we're talking about that. Elizabeth Gore, a female founder of the small firm level, Alice is winning in court and spent more than a million dollars defending themselves on a 25,000 dollar Grant and she's winning because she's using all every technicality that about like free speech about like you have no standing to bring this. How do you even have standing to bring this like all the she's winning out all the things we know. This is a joke They're winning. So I want anyone listening to this reach out to hello Alice or Elizabeth Gore on LinkedIn or whatever. She is offered a helper to I offered her free data. I said, I don't think that you need this day at all but you can have it because I'm glad there's someone just fighting that's just great to see somebody fighting. Hello Alice, Elizabeth gore, that's how that's all I got. That's what I got. How are you got that? You got strength for a quiz. You want to get out of here and do the quiz next week. No, let's do it. It's not wammy music like my, like, Johnny Carson used to have some kind of, I don't know. I'm talking about. I'm dating myself. Yeah. How old are you? You were gonna do some predictions about the answers to this quiz before I got started? So, go ahead. Give me some just like, randomly, give me some answers. All right, let's play a little bit of tense game. Show. Music is fit the new figma IPO. This is the big sensation. The new Big IPA making lots of money figma skyrocketing price. Here are my predictions about figma the quiz about figma. Yeah. Number one? Yeah, go ahead. He's a College Dropout, founder. Okay, probably went to Stanford. Number two. The company issued at least two classes of share, if not five. Okay. Number three. The founder and or co-founders own, at least 75% of the voting shares. Probably closer to 90, okay? Number four. The stock skyrocketed and then everyone sold. Yeah, right. Okay. Number five. The founder is already a billionaire and we're talking about in like a billionaire, that's my predictions. Now let's just quiz. I've not just play the quiz. Let's just play the quiz. Then play it. This is figma. This is the figma IPO. Figma, founder, and CEO Dylan field. What percentage of shares does he actually owned the company? Does he not the voting power? What is he actually owned a company? What do you think? I have 1%. It's a very, it's a very legitimate figure, 17% a lot. Okay. That's what's the what's his total voting power? At 75? At least he got 74% and really. Yes. And that's because how many votes per share are his magical or the magical Class B shares worth? Well, I'll say this. Yeah. 10 votes for per share is so 2020. Yes, so 2019-2020. It's so boring. We're we were seeing share X creep, right? Like share vote power creep. So I'm going to say 20%, Well it's just what's the compromising? Call it 15. It's 15 votes per share. I do it wasn't 10. It couldn't be 10. Yeah. And isn't it cute that in modern day capitalism that you could have shares worth of magical 15 votes, but isn't that? Cute? 15 votes per share? Awesome. It's it's free market of those Class B shares, what percentage does, Dylan control himself? How many does he own? I mean, I, I'm guessing he has at least one co-founder and probably some VCS who owned a couple of those Class, B shares. But I'm going to say, The, you know, he's the face of it. 60%. Oh you're you're being way too fair. You get back into your other mode. 99% what is the point? There are five executive officers a figma and 10, a non-employee, directors know, 10 directors. I think only nine or not part of the company. After all those five Executives, ten directors. How many are women? Oh 15 total. How many can't be more than one and just got to be ahead of HR One. Oh no, you got that one. Wrong two, but you're kind of close there. There are no executive officers, who are women? Oh, just to be fair, but there are two non-employed directors or women. So, that's kind of woke, right to they found two women. Somehow, I was worried that somewhere in the succession plan, it would go from 6.6% of the global 500 to 6.7% of the global 500. If there was a woman executive who might someday, no, run the company. This is a trend that we've been following all year that, you know, companies are kind of quietly just getting rid of women in general women on the board women who are Executives and there was a report out of axios. I think this morning saying that a larger percentage of companies are not. They're not even really disclosing the percentage anymore. They're just kind of giving up with that disclosure like that. Yeah. Why bother who is a chair? Do you think they're asking every every female who might be on a board currently if they would legally change their name to Pat? So at least no one, no. Yeah, who was the chair of the figma board? Ah, the chair who runs who sets the agenda of the god is the CEO, their CEO, and founder and controlling shareholder Dylan field. That one was easy, that was dumb. Come on is that dumb though their the founder and controlling shareholder and we will wait they gave him the chair role to that can I guess the next question which you know you're not gonna get the next, will there be a lead in dependent director? Well, there is one. Yeah, there is the answer is. Yes, and it happens to be the longest tenure of course it is. Yeah but I didn't ask about this. You'll appreciate this question. How many friendships with Peter Thiel does Dylan Field have How many I'm giggling at my own question making, how many friendships with Peter teal is Dylan field. Have two Oh no. I'm sorry just one just oh no. Yeah. One Bromance with Peter teal. How many calls degrees is it? Dylan field have zero zero. That's right. This is the curveball And you know this is gonna hit you a little bit hard. Where did Dylan field drop out of Stanford. That one, you got wrong everyone else at the college at this company, is basically involved with Stanford, including Peter teal, but no, he actually dropped out of your alma mater Brown. Oh, you sticking me, who paid Dylan field to drop out of college. Ah, who paid him to drive out of college? Someone paid him to drop out. Yes. How does part of the whole about part of the Alex? Karp world of, you know, this is the new, the new kind of you, the guy money to drop out of college. I'll give you a hint. I've already, I've already said his name. He'll, that's it peel. There's no because Bozo Peter teal actually has some kind of a scholarship or something or not, that would be the wrong word, right? It's like some kind of a a fund. I don't know what it is. It's a it's a it's a grand but the stipulation is that you have to drop out of college for at least two years you and that's how you get the money. I would, what a more this is just makes me crazy. Okay, Let me keep going in addition to his shareholdings, which are completely vast and he's already worth seven billion dollars. This guy. That's how much how much is Dylan field? Do to receive if the stock price hits 130 dollars. And I'll tell you, it's already was over on 124. How much more money will he get? It's gotta be it's got to be another, It's gotta be at least two act, right? I'm going to say five billion dollars. Well your first things was right two billion dollars. Yeah. And with which CEOs pay package was still pay package model down after. Zuckerberg. Well know, Elon Musk we were talking about, okay, right? It's this whole like tranche of of equity bulshit where if you hit certain measures you get all this money. It's this is like this except yeah elon's was the reason why like that Elon getting paid, billions of dollars is actually misplaced. The focus should be on the fact that he drives meme stocks and he turned himself into a meme and that's how he got himself. Yeah. True number is immaterial. He could set any number and hit it because the tranches don't matter. Like it's Dylan field is not going to be the guy. That you know, memes stocks his way into another two billion. And how about this, how many years does Dylan field have to reach that stock price hurdle. So he's a certain amount of years to hit that and I'll get his two billion dollars. Well, I'm he dropped out of college and he started the company like probably 10 years ago to IPO. So if he dropped out ten years ago, so he's in the thirties, he's a young 30s. That's actually the next question, I'm gonna go 20 years that. Okay, so it makes the real answer a little bit less horrible, 10 years, just 10 years, 10 years, less horrible, 10 long years to figure it out. Just market returns. He'd be done in two. How old is this? Very rich College Dropout, I'm gonna guess 33. That's it. Exactly. 30 is it really? Yeah, it's a weird how we know. I mean we this is all like, it's weird. It's weird. This is so it's, it's yeah, I don't know what investors spend their time doing, but this is what they do. This is so patently obvious and terrible. Yeah. In response to this one. You won't guess in response to a question about how he was going to change the world. Oh, did Dylan field say? I think big but does like a design thing, right? Like that's true. They're gonna like change the world. You Gonna Change the World? Yeah, it's got to be something banal like this. This is, we're going to feel themself? Yeah, I didn't say figma Dylan field, okay? Just him. Yeah, we are going to create spaces to enable Innovation. So, I'm gonna give you the right answer here because, you know, when I think Innovation, right, when I think change the world, I'm I'm never thinking in this territory that you're thinking that Dylan Phillips would say, but he said he was going to build better software for drones. I mean, really, I'm serious. This is yes, this is how he was said, he was gonna change the world. This is who were anointing the new billionaire class. And finally, I guess you already know something about this. I had no idea. The question is then, you know, Based on this, the fact that we're anointing him as a billionaires. Now, one of the most powerful Executives already. I'm guessing figma must truly, be benefiting Humanity in some way, right? So I'm asking you, what does figma do, exactly. Right. I'm thinking it must write. I mean, no, I'm pretty sure figma is like, really, really Advanced HTML. It's like, it's like, yeah, I think give yourself the right answer. It's actually, it's collaborative web application for interface design. I could go on, but it is utterly pointless. It makes it couldn't be more appointments for me to make like an app. It could and let me give you a bonus question, and we can get the hell out of here. What did? Joshua Browder, CEO of Legal Services. Startup. Do not pay in a former teal. How did he describe Dylan field? He described him as a loose cannon genius know. I might give you the wrong. Answer on that one, the most humble. Billionaire I've ever met. No, yes everyone. Humble get takes yes, so humble 15x shares. That's what humbled does, humble, then that's it. That's what you really need to know about figma IPO. When you go to your next dinner. Party come, yeah, that's what you really want. It's just stock price tape. Avoid the headlines. That is. We are free float. We'll be back on Friday with another show. There is a shareholder Primacy this week, if you're here, actual educated, people educated people saying real educated things to look out for that. Also, If you want we are looking for people to send the zine around. This is boardroom the official Zayn. What do you mean? Like get on their bikes and like, throw the issues at like counting record stores, we got our culture needs a Resurgence. It's time. It's time to tap into your punk Roots. You don't have to tell your boss about it. Read the scene forward it around, it's on my LinkedIn. You know, look my me up on LinkedIn. I'm gonna put it on our website right now. Like as soon as the show is done, I'm gonna Chuck it on the website, so you it's, you can download it there. The goal here is to get the zine out. Yeah. If you have children, print it out on that old printer. You never use anymore and fold it up. I think there's like peripheral related lines on it folded up and handed out to like there's seventh grade party whatever they are doing. You're done. We want people to actually read it. Feel the couch or culture learn something. Join us. Your Revolution. Boardroom Revolution. That's all we got until later good till every other day.