1
00:00:02,002 --> 00:00:02,794
That's all right.

2
00:00:02,794 --> 00:00:05,088
We're not mad at you.

3
00:00:05,088 --> 00:00:06,548
It's freezing in here, dude.

4
00:00:06,548 --> 00:00:09,175
Yeah.

5
00:00:09,175 --> 00:00:10,010
Yeah.

6
00:00:10,010 --> 00:00:12,971
Korean barbecue. They're really good.

7
00:00:13,013 --> 00:00:16,016
So you guys got some a little kick?

8
00:00:17,142 --> 00:00:20,145
Oh. Is the music all right?

9
00:00:22,397 --> 00:00:23,898
Yeah.

10
00:00:23,898 --> 00:00:26,484
Spectrum

11
00:00:26,484 --> 00:00:26,776
again.

12
00:00:26,776 --> 00:00:29,779
I got I got A.D.D.,
so it's going to have to start.

13
00:00:31,156 --> 00:00:33,408
There's that.
That's actually not a problem.

14
00:00:33,408 --> 00:00:36,411
That's actually.

15
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Just a little bit.

16
00:00:37,996 --> 00:00:40,331
Perfect.

17
00:00:40,331 --> 00:00:43,334
You don't have to turn it off.

18
00:00:47,672 --> 00:00:49,257
Ready?

19
00:00:49,257 --> 00:00:50,550
All right, all right.

20
00:00:50,550 --> 00:00:53,636
Beanie talks with friends episode 163.

21
00:00:53,678 --> 00:00:55,972
What's up Matt? How you doing?

22
00:00:55,972 --> 00:00:57,182
Ready to riff?

23
00:00:57,182 --> 00:00:59,476
Hey. You're the. You're leading me

24
00:00:59,476 --> 00:01:00,852
You lead in the future?

25
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I love it.

26
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Matt McCarty in the house.

27
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How you doing?

28
00:01:03,855 --> 00:01:04,939
Lovely.

29
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Co-Founder of Free Flow.

30
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Yeah.

31
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Free flow.

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Free flow analytics. Free code media.

33
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We have subsidiaries. Nice.

34
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Subsidiaries of just us.

35
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But still, it's a big word.

36
00:01:19,579 --> 00:01:22,082
I only teach third grade.

37
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We got, co-host,

38
00:01:23,666 --> 00:01:27,420
business pants,
podcast host, podcast host.

39
00:01:27,420 --> 00:01:28,797
But this is not unfamiliar.

40
00:01:28,797 --> 00:01:35,762
Although you're like,
I feel like I'm in a real thing right now.

41
00:01:35,804 --> 00:01:37,639
We could see you and hear you today.

42
00:01:37,639 --> 00:01:39,057
I know, shocking.

43
00:01:39,057 --> 00:01:40,350
Where's Damien at?

44
00:01:40,350 --> 00:01:41,768
Damien's in Portland, Maine.

45
00:01:41,768 --> 00:01:44,479
He's got my other coho season for Maine.

46
00:01:44,479 --> 00:01:47,440
I think he's probably getting his tonsils.

47
00:01:47,732 --> 00:01:48,316
The guy's got.

48
00:01:48,316 --> 00:01:49,484
He's got a great sense of humor.

49
00:01:49,484 --> 00:01:51,111
That guy like it dry?

50
00:01:51,111 --> 00:01:53,488
He's a dry dude.

51
00:01:53,488 --> 00:01:54,906
All right, so it's Feeny.

52
00:01:54,906 --> 00:01:55,657
Talks with friends.

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My name is Eric Feeny, founder
and president of Friends of Feeny.

54
00:01:58,785 --> 00:01:59,702
It's a nonprofit.

55
00:01:59,702 --> 00:02:03,164
We help children and families that need
assistance after heartbreak or tragedy.

56
00:02:03,414 --> 00:02:05,583
I use this podcast,
Feeny talks with friends,

57
00:02:05,583 --> 00:02:08,920
and I talk to wonderful people in
the community that are doing great things.

58
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And you're all right.

59
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You're all right.

60
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You're in the community at least.

61
00:02:13,550 --> 00:02:16,427
Maybe we leave a

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00:02:16,427 --> 00:02:19,430
wonderful person
and we're about to find out.

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So I'm really excited.

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We've been talking for a while
to get you on, but you're a busy man,

65
00:02:24,978 --> 00:02:28,565
you know, three kids,
and you must start up a lot.

66
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Happen all the time?

67
00:02:30,733 --> 00:02:32,861
Yeah.
What do you want to talk about first?

68
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Hey, man, I'll talk about anything
you want.

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Want to talk about.

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00:02:35,780 --> 00:02:37,824
You want to talk about a will?

71
00:02:37,824 --> 00:02:39,200
We're at Luna Pizza, right?

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There you go. Pizza? Yeah. Pizza.

73
00:02:42,162 --> 00:02:44,330
You talk about what I do.

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The Red Sox, I don't know.

75
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What's your favorite pizza?

76
00:02:47,709 --> 00:02:50,503
So I'm a cheddar pizza man.

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00:02:50,503 --> 00:02:55,175
Oh, because cheddar is naturally lactose
free and I can eat it.

78
00:02:56,009 --> 00:02:58,011
All right. Yeah, I get it home.

79
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Cheddar pizza.

80
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I like it.
I wonder if they'll make that here.

81
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Should have told me
what have had a cheddar pizza.

82
00:03:02,974 --> 00:03:03,975
No one cares.

83
00:03:03,975 --> 00:03:06,186
I've asked every every establishment.

84
00:03:06,186 --> 00:03:09,731
Alex, I promise you, next time you come,
Alex, we'll have cheddar pizza for you.

85
00:03:09,939 --> 00:03:11,357
Alex is a good friend.

86
00:03:11,357 --> 00:03:14,694
Episode 70 I did a Barstool Pizza
review at the beginning.

87
00:03:14,777 --> 00:03:17,530
I cooked pizza at the end.
Go back and check it out.

88
00:03:17,530 --> 00:03:20,742
Alex, thoughtful was our toy drive.

89
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Always donating. Great guy.

90
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Oh, while we're
on it, let's thank some other sponsors.

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Direct line media.

92
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Thank you, Stephanie and Dave.

93
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Without them, this would not be possible.

94
00:03:32,212 --> 00:03:34,881
We got float 41 to fix IV.

95
00:03:34,881 --> 00:03:38,635
Parkville Management,
people's Bank, Salem, Bob's

96
00:03:39,886 --> 00:03:42,972
Keating
Agency, insurance, Brook golf Law Group,

97
00:03:43,181 --> 00:03:46,142
and we got a new one,
the JCC, the Mandell JCC.

98
00:03:46,142 --> 00:03:48,728
You ever been over there?
I have, yeah, it's lovely there.

99
00:03:48,728 --> 00:03:49,729
Yeah, yeah.

100
00:03:49,729 --> 00:03:52,690
I swam a mile this morning feeling great.

101
00:03:52,857 --> 00:03:56,402
Hey, I have seen a person swim well, so.

102
00:03:56,486 --> 00:03:58,821
Yeah, I feel like we're the same.

103
00:03:58,821 --> 00:04:00,740
Oh, I have a I have a week pass for you.

104
00:04:00,740 --> 00:04:01,574
I don't have it on me.

105
00:04:01,574 --> 00:04:05,995
I one week,
one week free pass over here somewhere.

106
00:04:05,995 --> 00:04:07,580
If not, I'll get it to you.

107
00:04:07,580 --> 00:04:09,916
I want to thank the JCC
for being sponsors.

108
00:04:09,916 --> 00:04:12,835
Great friends over there.
I just had Colonel.

109
00:04:12,835 --> 00:04:14,921
There was a Colonel Mike caber.

110
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He does kettlebells.
You ever do a kettlebell workout?

111
00:04:17,090 --> 00:04:17,757
Yeah.

112
00:04:17,757 --> 00:04:19,926
Oh, yeah. Stauffer.

113
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You sleep
great that night? Yeah. That night.

114
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So the is great.

115
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You'll see their logo on our podcast page.

116
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Their brand new sponsors.

117
00:04:28,476 --> 00:04:29,811
Thank you so much for sponsoring.

118
00:04:29,811 --> 00:04:32,480
I got a week pass for you. Nice.

119
00:04:32,480 --> 00:04:34,649
Sally and Bob, what about Sally and Bob?

120
00:04:34,649 --> 00:04:35,692
You ever been over there?

121
00:04:35,692 --> 00:04:36,776
Once a month.

122
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I've been here for six years,
and I still have not sampled the full

123
00:04:42,115 --> 00:04:45,618
the fullness of the West
Hartford culinary experience.

124
00:04:45,743 --> 00:04:46,369
Well, there you go.

125
00:04:46,369 --> 00:04:48,204
I like to give you a gift card
to Sally and Bob.

126
00:04:48,204 --> 00:04:50,832
So being a good friend and joining us.

127
00:04:50,832 --> 00:04:53,209
Thank you Helen. Yeah. Me on the podcast.

128
00:04:53,209 --> 00:04:55,044
Yeah I was there this morning.

129
00:04:55,044 --> 00:04:57,046
I'll show you my couple two pictures
we're going to do.

130
00:04:57,046 --> 00:04:58,965
Boom. There's my lunch crew
I was with here.

131
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I was with, my crew there.

132
00:05:00,967 --> 00:05:04,095
You could see Dave, Dave, Billy and Scott
right here.

133
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And then my man Caesar.

134
00:05:05,847 --> 00:05:08,808
Boom. The chef Caesar's a great guy.

135
00:05:08,808 --> 00:05:09,434
Check it out.

136
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Get the, You like eggs? Benny's,

137
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hash browns.

138
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All day they do.

139
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Oh. My weakness. Yes.

140
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Got a car?

141
00:05:20,111 --> 00:05:24,824
But, yeah, I, I don't mean to be clear,
but I will.

142
00:05:25,033 --> 00:05:27,660
All right, so let's get right into it.

143
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I teach third grade.

144
00:05:28,953 --> 00:05:31,706
Pretend you're speaking to a third grader.

145
00:05:31,706 --> 00:05:36,085
Explain what e s g is to a third grader.

146
00:05:36,586 --> 00:05:39,839
Okay, so there's
probably what you've heard about.

147
00:05:40,173 --> 00:05:41,799
Yeah. And then there's probably.

148
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And then there's what it is E
and SMG stands

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for environmental, social and governance.

150
00:05:48,514 --> 00:05:50,099
And it's data.

151
00:05:50,099 --> 00:05:54,395
It's just information environmental
information social information governance

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00:05:54,395 --> 00:05:57,357
information that gets used

153
00:05:57,690 --> 00:06:01,652
in finance, stock
market, game valuation and value.

154
00:06:01,652 --> 00:06:04,197
And how much is that asset
worth. Whatever.

155
00:06:04,197 --> 00:06:08,284
So very, very simply, it's
just information about the environment and

156
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how it can affect

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things in finance okay.

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All right.

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00:06:13,289 --> 00:06:17,335
So when someone goes to invest in
say Nike or a stock

160
00:06:17,335 --> 00:06:20,421
they check their ESG rating
or how's our ratings.

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00:06:20,421 --> 00:06:21,631
And those are kind of a different thing.

162
00:06:21,631 --> 00:06:23,591
So think of it this way.

163
00:06:23,591 --> 00:06:26,594
If you were to invest

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a lot of people, a lot of older people
invest in utilities like energy utilities.

165
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They do that

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because energy utilities are tax efficient
and they throw off a lot of cash.

167
00:06:36,646 --> 00:06:40,358
So if you're going to retire, you 
don't want to sell, but you want the cash.

168
00:06:40,775 --> 00:06:43,653
So you buy things like utilities or bonds.

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Let's say you're going to buy a utility.

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Let's say that utility
has all of its plants, power plants

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on the coast of North Carolina,
which Duke Energy has a bunch.

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ESG is the information that

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you get from using ESG data

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is how many of those power plants

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will be underwater
in the lifespan of that power plant

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because of climate change
or sea level rise.

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If you don't believe in climate change,
people can agree.

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That's right.

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You can do the same thing.

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If people in this country
are don't have access to health care,

181
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how does that affect, you know,
a health care stock or some stock

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you never thought of like, you know,
if I don't have access to health care,

183
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am I going to be ordering Uber Eats?

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Very much
because I'm spending all my money

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on health care and there's Uber pay.

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There's a lot of ways you can look at it.

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It's just information.

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What it is is information
that Wall Street stock market,

189
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for as long as that's existed,

190
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pretty much ignored the margins.

191
00:07:52,972 --> 00:07:55,933
And then it got mainstreamed during Covid.

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So everyone was talking about it,
how important it was.

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And then the recent administration
has basically banned it and said,

194
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we don't want you to see that

195
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because they

196
00:08:06,235 --> 00:08:10,323
associated that with being woke
or being liberal or something like that.

197
00:08:10,323 --> 00:08:16,412
So it's just information
that's really how does free float use ESG.

198
00:08:16,704 --> 00:08:18,831
So we came from ESG.

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Both Damien, my partner, and I built,

200
00:08:25,129 --> 00:08:29,300
various pieces of ESG models for large
financial companies.

201
00:08:29,300 --> 00:08:32,303
MSCI is where we go first. But,

202
00:08:32,970 --> 00:08:34,555
now what we do

203
00:08:34,555 --> 00:08:37,558
is we're sort of
a, a fringe inside of fringe.

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The thing that we do
when you invest in anything,

205
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most people look at the
the stock or the bond

206
00:08:47,026 --> 00:08:50,905
or whatever it is
and they say, how much is this worth?

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I want it to go up.

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00:08:53,074 --> 00:08:55,826
We say, who is running this?

209
00:08:55,826 --> 00:08:59,705
So we don't look at an asset and say,
you're buying an asset.

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00:08:59,705 --> 00:09:00,540
You look at it and say,

211
00:09:00,540 --> 00:09:03,626
you're buying a collection of people,
you're buying their output.

212
00:09:04,377 --> 00:09:08,881
So in a very simple way
we're saying how good is management?

213
00:09:09,382 --> 00:09:10,883
How much do we trust them?

214
00:09:10,883 --> 00:09:13,594
Who are they.
Have they performed in the past.

215
00:09:13,594 --> 00:09:17,848
We we treat boards of directors and CEOs.

216
00:09:17,848 --> 00:09:20,685
We treat them like sports teams
because you know everything.

217
00:09:20,685 --> 00:09:23,312
Who's your favorite team? Yankees. Knicks.

218
00:09:23,312 --> 00:09:23,854
The worst.

219
00:09:25,147 --> 00:09:28,150
Should we stop the podcast right now?

220
00:09:29,735 --> 00:09:31,153
But you know everything about the Yankees.

221
00:09:31,153 --> 00:09:32,780
Yeah. When you were growing up.

222
00:09:32,780 --> 00:09:34,699
Yeah, yeah, yeah. Okay.
I like this analogy.

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00:09:34,699 --> 00:09:38,786
Yup. So, you know everything, you know,
like Derek Jeter's shoe size, you know,

224
00:09:38,786 --> 00:09:41,998
which way that's,
you know, every position he's ever played.

225
00:09:41,998 --> 00:09:46,168
You know, like, you know like is
he better in July than he is in October.

226
00:09:46,919 --> 00:09:49,463
But you know he is. Right.

227
00:09:49,463 --> 00:09:51,007
But well he's Mr. November.

228
00:09:51,007 --> 00:09:52,008
Let's let's correct you.

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00:09:52,008 --> 00:09:52,341
Okay.

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00:09:52,341 --> 00:09:55,344
Reggie Jackson

231
00:09:56,178 --> 00:09:57,597
that one George okay.

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00:09:57,597 --> 00:10:00,474
But I assume you go to target right.

233
00:10:00,474 --> 00:10:02,435
And you buy you know

234
00:10:02,435 --> 00:10:05,646
I don't know bananas or toilet paper
at target or whatever you buy. Yep.

235
00:10:05,980 --> 00:10:08,983
Can you name one executive at target? Two.

236
00:10:09,275 --> 00:10:11,068
Can you name one board member or target?

237
00:10:12,778 --> 00:10:13,738
Can I spin that on you?

238
00:10:13,738 --> 00:10:14,822
Can you name? Yeah.

239
00:10:14,822 --> 00:10:16,824
Brian
Cornell is the executive chair of target.

240
00:10:16,824 --> 00:10:18,075
Was the CEO.

241
00:10:18,075 --> 00:10:21,245
He actually just fake stepped down
and replaced himself with Michael.

242
00:10:21,871 --> 00:10:23,789
This is what we do all day.

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00:10:23,789 --> 00:10:27,209
I can also tell you that at target,
there are two board members,

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00:10:27,209 --> 00:10:28,753
not one, but two.

245
00:10:28,753 --> 00:10:30,796
So we all know about diversity.

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00:10:30,796 --> 00:10:33,049
Dei gets talked about a lot.

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00:10:33,049 --> 00:10:36,927
There are not one, but two board
members on target who are on boards

248
00:10:36,927 --> 00:10:41,015
of other companies
who reverse their diversity policies.

249
00:10:41,682 --> 00:10:42,808
Trump.

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00:10:42,808 --> 00:10:45,895
Oh, is that why some people are banning
target and not shopping there? No.

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00:10:45,936 --> 00:10:46,646
Exactly right.

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00:10:46,646 --> 00:10:50,816
They basically backtracked
on all of their diversity targets,

253
00:10:51,233 --> 00:10:52,735
and they were a little late to the game.

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00:10:52,735 --> 00:10:56,364
They did it largely
because of, you know, internet

255
00:10:56,364 --> 00:11:00,534
trolls, outrage about, 
the bathing suits or something.

256
00:11:00,534 --> 00:11:02,036
Yeah. Merch.

257
00:11:02,036 --> 00:11:02,453
Yeah.

258
00:11:02,453 --> 00:11:07,375
But so one of the questions
that we try to answer, three, four,

259
00:11:07,416 --> 00:11:10,920
which is in ESG, mostly
because it's information

260
00:11:10,920 --> 00:11:14,423
people don't have or don't think about,
but it's not technically,

261
00:11:15,299 --> 00:11:17,593
it's not the same thing
people think of when I think of ESG,

262
00:11:17,593 --> 00:11:20,429
where the G
the governance part, who governs.

263
00:11:20,429 --> 00:11:22,723
We try to tell you who runs the company.

264
00:11:22,723 --> 00:11:24,934
How do we know their job? What do they do?

265
00:11:24,934 --> 00:11:29,939
What about well, some people will invest
based on say that could be a turnoff

266
00:11:29,939 --> 00:11:35,069
for someone for someone that the CEO did
the switch change the day?

267
00:11:35,069 --> 00:11:38,489
Someone could go, hey, I don't want to
invest with them because of that reason.

268
00:11:39,323 --> 00:11:41,617
Gotcha. For any reason you want, right?

269
00:11:41,617 --> 00:11:42,326
Like you,

270
00:11:43,285 --> 00:11:44,245
you're

271
00:11:44,245 --> 00:11:47,248
you're so it just is incredibly impactful
locally, right?

272
00:11:47,248 --> 00:11:52,336
Do you know which companies operate
locally that are publicly traded?

273
00:11:52,962 --> 00:11:54,797
It's a very small number.

274
00:11:54,797 --> 00:11:56,090
But in West Hartford.

275
00:11:56,090 --> 00:11:57,925
Oh. In local? Yeah.

276
00:11:57,925 --> 00:11:58,384
Local.

277
00:11:58,384 --> 00:11:59,969
Yeah. Okay. Gotcha.

278
00:11:59,969 --> 00:12:01,804
Gotcha. Pratt. Whitney. Yep.

279
00:12:01,804 --> 00:12:04,306
Like there are Raytheon or Raytheon

280
00:12:04,306 --> 00:12:07,309
is now Pratt and Whitney. Yep.

281
00:12:07,601 --> 00:12:09,061
Let me guess.

282
00:12:09,061 --> 00:12:12,273
Black Stanley and Decker
Stanley in New Britain and Decker.

283
00:12:12,273 --> 00:12:12,565
Sure.

284
00:12:12,565 --> 00:12:13,816
They're they're publicly traded.

285
00:12:13,816 --> 00:12:16,819
So there are some couple, right. And

286
00:12:17,778 --> 00:12:21,323
you can invest in those companies
simply because they're local.

287
00:12:21,991 --> 00:12:23,617
Okay, good.

288
00:12:23,617 --> 00:12:26,620
Good. Bad. You know, deep analysis.

289
00:12:26,662 --> 00:12:31,625
If you're in the stock market but you want
ROI, don't you want you want to return.

290
00:12:31,751 --> 00:12:32,209
Yeah.

291
00:12:32,209 --> 00:12:35,296
But sometimes that return goes beyond
like,

292
00:12:36,088 --> 00:12:38,716
look, if you're going to invest
in the stock market,

293
00:12:38,716 --> 00:12:42,720
the chances that you'd be throwing
darts at a dartboard is you zero, right.

294
00:12:42,720 --> 00:12:48,142
Because they're people have way more
information with you as a normal person.

295
00:12:48,350 --> 00:12:51,937
This is actually part of the reason why
we made our data a lot of our data free.

296
00:12:52,229 --> 00:12:55,232
We have a website, Sizzler analytics.com.

297
00:12:55,357 --> 00:12:56,525
You can it's a free.

298
00:12:56,525 --> 00:13:00,446
Just put an email address, sign up
and you can see every board

299
00:13:01,322 --> 00:13:05,034
in the world and they're active directors
and how they perform on certain things.

300
00:13:05,034 --> 00:13:06,410
Just a couple of things.

301
00:13:06,410 --> 00:13:08,496
It's a lot of information.
But we believe that

302
00:13:09,455 --> 00:13:09,997
you're in it.

303
00:13:09,997 --> 00:13:11,874
You're in information disadvantage.

304
00:13:11,874 --> 00:13:14,543
You have no idea. No. Right.

305
00:13:14,543 --> 00:13:17,838
Which means for you
picking a stock is like,

306
00:13:18,088 --> 00:13:20,257
you know,
if somebody comes in the door here

307
00:13:20,257 --> 00:13:23,260
and says, like, oh, you should buy
Coca-Cola right now, it's hot.

308
00:13:23,302 --> 00:13:26,305
You'd be like,
all right, let's do it, I guess.

309
00:13:26,305 --> 00:13:27,932
So give it to me.

310
00:13:27,932 --> 00:13:31,018
But that's like,
you know, it's not necessarily

311
00:13:31,018 --> 00:13:32,520
the best reason to buy the stock.

312
00:13:32,520 --> 00:13:35,356
We're
we're trying to like lower that asymmetry.

313
00:13:35,356 --> 00:13:37,107
But you can buy a stock for any reason.

314
00:13:37,107 --> 00:13:41,070
There's no like rule that says
you have to buy it for x, y or z reason.

315
00:13:41,487 --> 00:13:44,990
So we're just giving people a different
way to look at the stock today.

316
00:13:45,449 --> 00:13:47,368
Very cool. Very cool.

317
00:13:47,368 --> 00:13:48,452
All right.

318
00:13:48,452 --> 00:13:49,203
Fun little game.

319
00:13:49,203 --> 00:13:51,664
So sports yeah.

320
00:13:51,664 --> 00:13:54,416
You have to start sit or cut.

321
00:13:54,416 --> 00:13:57,336
So you got to start environmental social
or grievance.

322
00:13:57,336 --> 00:14:01,799
You got to sit one and you got to cut
one is a ranking of importance governance.

323
00:14:01,799 --> 00:14:07,805
Yep. You you cut social
and you have an environment on the bench.

324
00:14:08,097 --> 00:14:09,348
Okay.

325
00:14:09,348 --> 00:14:10,349
Any reasoning?

326
00:14:10,349 --> 00:14:13,394
Because I can take care of everything.

327
00:14:13,394 --> 00:14:15,688
Right. Good governance if I.

328
00:14:15,688 --> 00:14:19,233
So one thing that people don't know
when you buy stocks most stocks

329
00:14:19,859 --> 00:14:21,735
give you a vote. I'm entitled to a vote.

330
00:14:21,735 --> 00:14:25,865
It's an alternative democracy
entirely different from it's

331
00:14:25,865 --> 00:14:30,536
not entirely different, but it's, it's
outside of the federal democracy, right?

332
00:14:31,078 --> 00:14:34,206
You go, you vote for president, you go,
you vote for Sherry cancer, you go.

333
00:14:34,206 --> 00:14:38,711
You vote for your elected officials
in your retirement fund.

334
00:14:39,378 --> 00:14:40,713
You can vote for who's on the board.

335
00:14:41,755 --> 00:14:43,007
It's your children.

336
00:14:43,007 --> 00:14:45,426
Right. So

337
00:14:45,426 --> 00:14:48,429
one of the things that I can do with
governance

338
00:14:48,596 --> 00:14:53,100
is I can say, oh, I don't like the way

339
00:14:53,100 --> 00:14:56,395
this person is managing the environment
at this company.

340
00:14:56,395 --> 00:14:57,813
I will vote against them.

341
00:14:57,813 --> 00:15:01,400
So it's like a sneaky you can
you can campaign and tell your friends and

342
00:15:01,775 --> 00:15:03,152
start social posts.

343
00:15:03,152 --> 00:15:03,569
Oh yeah.

344
00:15:03,569 --> 00:15:05,613
There's a way to have you ever done so.

345
00:15:05,613 --> 00:15:08,616
I mean, we've done it. We're not really.

346
00:15:08,908 --> 00:15:10,868
So we're in the business
of sort of selling data

347
00:15:10,868 --> 00:15:13,537
and making that data available
and doing the assessment.

348
00:15:13,537 --> 00:15:14,204
We're doing something

349
00:15:14,204 --> 00:15:17,583
that no one's really ever done before,
which is Moneyball for directors.

350
00:15:17,917 --> 00:15:20,294
We are like, what?

351
00:15:20,294 --> 00:15:23,255
You know, what the early baseball,

352
00:15:23,255 --> 00:15:26,967
you know, sabermetrics for analytics
revolution was about.

353
00:15:27,217 --> 00:15:31,931
We're trying to do that for directors,
which means the case we make

354
00:15:31,931 --> 00:15:35,225
is that these people don't perform
well or they do perform well.

355
00:15:35,225 --> 00:15:37,645
We don't make the case that you should
or shouldn't vote them out.

356
00:15:37,645 --> 00:15:40,898
I especially like clients,
institutional asset managers

357
00:15:41,023 --> 00:15:44,485
and institutional investors
don't want you to tell them what to do

358
00:15:44,652 --> 00:15:48,530
if they say they want to give themselves,
you know, so I want you to tell it.

359
00:15:50,157 --> 00:15:52,451
But that means

360
00:15:52,451 --> 00:15:55,454
you can make the decision
any way you want,

361
00:15:55,579 --> 00:15:58,457
like with your vote, with the information.

362
00:15:58,457 --> 00:16:02,294
So I think I can cover everything
in governance with a vote.

363
00:16:02,294 --> 00:16:04,797
I can pull lever
in the alternative democracy,

364
00:16:04,797 --> 00:16:08,342
and I can say I can file
what's called an exempt solicitation.

365
00:16:08,342 --> 00:16:12,596
I can tell every investor in the world,
this is why I'm voting this way.

366
00:16:12,596 --> 00:16:15,182
You should vote this way too.
There's methods to do that.

367
00:16:15,182 --> 00:16:16,350
You can put up blog posts.

368
00:16:16,350 --> 00:16:18,185
You can do dumb podcasts like that.

369
00:16:18,185 --> 00:16:19,895
You know, like whatever, you can do that.

370
00:16:19,895 --> 00:16:21,313
So that's not dumb.

371
00:16:21,313 --> 00:16:24,984
Very funny,
entertaining and financially, informative.

372
00:16:25,234 --> 00:16:26,610
Come on.

373
00:16:26,610 --> 00:16:27,778
Business pants.

374
00:16:27,778 --> 00:16:29,905
Where'd you think of that
title business pants?

375
00:16:29,905 --> 00:16:33,826
We thought it was funny
because, you see big boy pants,

376
00:16:33,826 --> 00:16:37,830
but you pull up your business pants
and let's you just a picture of jeans.

377
00:16:37,955 --> 00:16:40,082
You know, it's just we're ridiculous.

378
00:16:40,082 --> 00:16:43,043
Everything we do is, like, try to you
guys.

379
00:16:43,043 --> 00:16:44,336
Yeah, but it's unique, right?

380
00:16:44,336 --> 00:16:45,963
Can you compare yourself as anyone?

381
00:16:45,963 --> 00:16:47,715
No. That's irreverent. That's what it is.

382
00:16:47,715 --> 00:16:50,634
There's my industry. They are

383
00:16:51,719 --> 00:16:52,886
convinced that they know.

384
00:16:52,886 --> 00:16:55,889
Everybody pretends
like they know what they're doing.

385
00:16:56,974 --> 00:16:59,518
But for the most part,
no one really knows.

386
00:16:59,518 --> 00:17:04,189
And you can name like directors if I fact
name some companies ready, right.

387
00:17:05,357 --> 00:17:08,068
I mean,
I always quick to say is Nike, Nike.

388
00:17:08,068 --> 00:17:09,611
Oh, you were mad at Nike.

389
00:17:09,611 --> 00:17:10,195
Yeah.

390
00:17:10,195 --> 00:17:12,531
Well,
because they sued for being too white.

391
00:17:12,531 --> 00:17:15,534
No, Nike just got sued by the,

392
00:17:15,576 --> 00:17:18,537
Equal Employment Opportunity Commission.

393
00:17:18,620 --> 00:17:21,957
Which was the commission
the government commission put in place

394
00:17:22,416 --> 00:17:23,792
for the civil rights movement.

395
00:17:23,792 --> 00:17:24,001
Yeah.

396
00:17:24,001 --> 00:17:28,047
Because of discrimination
against black people in this country. Yep.

397
00:17:28,839 --> 00:17:31,050
And now the Trump's in office.

398
00:17:31,050 --> 00:17:33,510
He appointed, woman

399
00:17:33,510 --> 00:17:36,764
who basically believes that white men
have been discriminated against.

400
00:17:37,347 --> 00:17:40,184
And so they sued Nike

401
00:17:40,184 --> 00:17:42,561
for discrimination against white.

402
00:17:42,561 --> 00:17:43,020
Yeah.

403
00:17:43,020 --> 00:17:46,023
White people, but also primarily white

404
00:17:46,231 --> 00:17:48,317
because Nike had policies that said,

405
00:17:48,317 --> 00:17:52,446
we are going to try to level
the playing field for all employees.

406
00:17:52,946 --> 00:17:55,324
They sued them saying
you're discriminating against white.

407
00:17:55,324 --> 00:17:58,494
Where does that
what's the status on that lawsuits?

408
00:17:58,952 --> 00:18:01,205
That's the kind of that what we were
we weren't angry at Nike

409
00:18:01,205 --> 00:18:03,874
so much as we were saying, Nike,
you should absolutely fight this.

410
00:18:03,874 --> 00:18:07,461
And here's an easy way to fight it,
because when we looked at Nike's,

411
00:18:08,128 --> 00:18:10,672
the diversity of Nike's executive team

412
00:18:10,672 --> 00:18:13,926
and the diversity of the EEOC
executive team,

413
00:18:14,343 --> 00:18:17,346
they were almost entirely white
and almost entirely male,

414
00:18:17,638 --> 00:18:21,058
which means the joke was sort of like Nike

415
00:18:21,809 --> 00:18:24,812
if if they're saying
you're discriminating against white men,

416
00:18:24,937 --> 00:18:27,439
you should say
they're discriminating against white men.

417
00:18:27,439 --> 00:18:30,484
Also, just countersuit
because this it's ludicrous.

418
00:18:30,984 --> 00:18:32,486
But at some level it's all press.

419
00:18:32,486 --> 00:18:35,489
It's all political show. And then Jennifer

420
00:18:35,906 --> 00:18:39,451
or Jessica Garner, Jennifer Garner,
the actress has a oh, yeah.

421
00:18:39,451 --> 00:18:40,953
Jessica Garner.

422
00:18:40,953 --> 00:18:43,831
Yeah, she's got a new IPO.

423
00:18:43,831 --> 00:18:46,291
Did you like that
mission, baby for the couch?

424
00:18:47,626 --> 00:18:48,418
Sounds tasty.

425
00:18:48,418 --> 00:18:51,421
Yeah, I know we had for.

426
00:18:54,424 --> 00:18:56,343
So you said another one IPO.

427
00:18:56,343 --> 00:18:58,178
Let's talk about that IPO.

428
00:18:58,178 --> 00:18:59,972
Initial public offering.

429
00:18:59,972 --> 00:19:04,476
It's just when a stock goes
from being a private company to a listing,

430
00:19:04,685 --> 00:19:08,313
public exchange,
just that first obviously initial move.

431
00:19:08,313 --> 00:19:10,274
That's it IPO.

432
00:19:10,274 --> 00:19:12,484
So IPO is past tense.

433
00:19:12,484 --> 00:19:14,319
There are companies that never IPO.

434
00:19:14,319 --> 00:19:15,612
They just stay private forever.

435
00:19:15,612 --> 00:19:19,658
That's actually the majority of companies
than the companies that IPO.

436
00:19:19,825 --> 00:19:23,745
And after a long time
they can IPO for short time.

437
00:19:23,745 --> 00:19:25,080
There's really no rules.

438
00:19:25,080 --> 00:19:29,084
IPO allows you to access capital
in public markets.

439
00:19:29,209 --> 00:19:32,462
So it means I can sell stock to everybody

440
00:19:32,796 --> 00:19:36,633
instead of just a couple of very wealthy
private investors.

441
00:19:37,176 --> 00:19:40,179
What about a bro PR so a broker.

442
00:19:40,179 --> 00:19:41,847
Yeah. Did you did you.

443
00:19:41,847 --> 00:19:42,389
Yeah.

444
00:19:42,389 --> 00:19:45,267
Yeah. Yeah. Damien coined that term.

445
00:19:46,226 --> 00:19:48,228
Has that, has that caught on.

446
00:19:48,228 --> 00:19:50,898
Yeah. With with you.

447
00:19:50,898 --> 00:19:53,400
I think I heard a neighbor say it once.

448
00:19:53,400 --> 00:19:58,822
No, I mean, it's a term he he made up

449
00:19:58,822 --> 00:20:02,659
because when you track, ideas
are really hot, right?

450
00:20:02,659 --> 00:20:05,662
This year, SpaceX is going to IPO.

451
00:20:05,746 --> 00:20:08,999
So is OpenAI, which is makes ChatGPT.

452
00:20:09,416 --> 00:20:12,628
There are a number of really big.

453
00:20:13,086 --> 00:20:14,880
So they're currently not

454
00:20:14,880 --> 00:20:18,926
allowed to be invested in by the public,
but they're going to be IPO.

455
00:20:18,926 --> 00:20:21,094
So then the public can invest
in public invest.

456
00:20:21,094 --> 00:20:25,974
And that's why it's like a big deal
because the public really likes Elon Musk.

457
00:20:25,974 --> 00:20:27,059
Oh yeah.

458
00:20:27,059 --> 00:20:29,645
And and ChatGPT

459
00:20:29,645 --> 00:20:33,273
also some of them both are massive liars.

460
00:20:33,273 --> 00:20:36,276
I don't know, to do liars.

461
00:20:36,777 --> 00:20:39,196
But the,

462
00:20:39,196 --> 00:20:41,823
the, the fact is that

463
00:20:41,823 --> 00:20:44,785
so the pros do it,
they are going to go public.

464
00:20:44,910 --> 00:20:46,828
Damien looks at all of the IPOs,

465
00:20:46,828 --> 00:20:50,165
all the upcoming IPOs
or the ones that have just happened.

466
00:20:50,832 --> 00:20:56,463
And what he says is not what is hot, what
company is hot, but who is running it.

467
00:20:56,463 --> 00:20:59,466
Just like everything we do
and what we find

468
00:20:59,716 --> 00:21:03,262
increasingly actually it's gotten worse
over the last few years.

469
00:21:03,720 --> 00:21:07,849
Is it used to be like all men and then or,
you know,

470
00:21:08,267 --> 00:21:12,062
during the pandemic, people were like
there was more access to capital,

471
00:21:12,062 --> 00:21:13,563
there were more women involved.

472
00:21:13,563 --> 00:21:15,857
There are more women in the C-suite there.

473
00:21:15,857 --> 00:21:17,609
And now it's back to being awesome.

474
00:21:17,609 --> 00:21:18,860
So he calls him bro.

475
00:21:18,860 --> 00:21:22,197
That's the bro all male IPOs happening.

476
00:21:22,864 --> 00:21:27,369
It's it's what about like a guy
the barstool guy who will come out

477
00:21:27,369 --> 00:21:31,206
very popular guy has a lot of money says
oh I'm going to invest in this next thing.

478
00:21:31,206 --> 00:21:34,710
You know people listen to this guy
he's called David Page.

479
00:21:34,710 --> 00:21:35,877
Yeah. Todd.

480
00:21:35,877 --> 00:21:37,170
Todd. Yeah.

481
00:21:37,170 --> 00:21:39,673
When he does the, stocks, he's page views.

482
00:21:39,673 --> 00:21:42,509
Maybe that's when he's gambling,
but then he does the pizza and then

483
00:21:43,468 --> 00:21:44,303
something he does.

484
00:21:44,303 --> 00:21:45,637
But is that a bro?

485
00:21:45,637 --> 00:21:47,389
Is that part of the bro pod thing?

486
00:21:47,389 --> 00:21:51,310
Is he he's obviously not giving
researched information and he and people

487
00:21:51,310 --> 00:21:54,313
just following him because I thought
that's what I thought the bro

488
00:21:54,813 --> 00:21:56,815
I thought the bro thing. Yeah. No.

489
00:21:56,815 --> 00:21:57,065
Yeah.

490
00:21:57,065 --> 00:21:59,526
David
Courtney is part of a different ecosystem.

491
00:21:59,526 --> 00:22:02,946
He's, he's one of the blowhards.

492
00:22:02,946 --> 00:22:06,908
It is like you go into your search
to search for stock tip on YouTube.

493
00:22:07,326 --> 00:22:09,995
You'll get a trillion hits and everyone's

494
00:22:09,995 --> 00:22:13,332
and yelling into a camera being like,
you got to buy this while it's hot.

495
00:22:13,332 --> 00:22:17,502
Or here's my three reasons why this stops,
you know, rebound or whatever.

496
00:22:17,586 --> 00:22:20,672
Oh yeah, you remind me of the guy,
the bald dude who's the most famous guy

497
00:22:20,672 --> 00:22:22,507
that does that. Oh, yeah.

498
00:22:22,507 --> 00:22:23,675
With the tie. Yeah.

499
00:22:23,675 --> 00:22:25,927
And he's got a really big podcast.

500
00:22:25,927 --> 00:22:28,347
And I don't,
I don't listen to Dave Ramsey.

501
00:22:28,347 --> 00:22:30,515
Okay. Yeah. I hate to,

502
00:22:31,808 --> 00:22:34,436
he does a lot more like
personal finance advice, which is fine.

503
00:22:34,436 --> 00:22:34,770
Whatever.

504
00:22:34,770 --> 00:22:37,773
But there's a whole cottage industry,

505
00:22:37,773 --> 00:22:39,024
blowhards.

506
00:22:39,024 --> 00:22:40,859
Right? Like,

507
00:22:40,859 --> 00:22:43,278
personal
finance advice can be very complicated,

508
00:22:43,278 --> 00:22:46,740
but it also can be save more than you
spend.

509
00:22:47,074 --> 00:22:48,283
Yeah, right.

510
00:22:48,283 --> 00:22:51,286
That's how you spend more than you can

511
00:22:51,578 --> 00:22:53,330
buy on credit sparingly.

512
00:22:53,330 --> 00:22:56,166
Pay off of it, right? Like you don't.

513
00:22:56,166 --> 00:22:58,335
Did you hear that, listener?
That's great advice.

514
00:22:58,335 --> 00:23:00,253
It's really not that hard, right?

515
00:23:00,253 --> 00:23:02,672
But Dave
Ramsey turned it into an entire industry.

516
00:23:02,672 --> 00:23:07,052
20 books and like,
podcasts and it's industry.

517
00:23:07,052 --> 00:23:10,472
So, you know,
Portnoy is part of that blowhard economy.

518
00:23:10,472 --> 00:23:10,722
Yeah.

519
00:23:10,722 --> 00:23:13,683
Going out and saying like,
this crypto coin is going to do it.

520
00:23:13,683 --> 00:23:14,601
Yes, he did that.

521
00:23:14,601 --> 00:23:16,395
He did that with crypto actually.

522
00:23:16,395 --> 00:23:18,647
That's and he does that with gambling too.

523
00:23:18,647 --> 00:23:22,526
And people just like invest and he,
he put out a loser.

524
00:23:22,526 --> 00:23:27,614
He put out men's hockey
in Michigan over Duke and he lost.

525
00:23:27,614 --> 00:23:31,034
So I want to think who what guys were like
oh I'm going to do that

526
00:23:31,034 --> 00:23:33,120
because Dave's doing it.
I'm going to invest.

527
00:23:33,120 --> 00:23:35,580
You can talk yourself into anything, man,
like I can.

528
00:23:35,580 --> 00:23:38,959
If I gave you a gamble right now,
I gave you an over under.

529
00:23:38,959 --> 00:23:43,672
Right now, you could probably
talk yourself into both sides of that.

530
00:23:43,880 --> 00:23:47,426
You might have a really strong opinion,
but I can probably convince

531
00:23:47,426 --> 00:23:50,429
you one way or the other
if I was just persuasive.

532
00:23:50,720 --> 00:23:52,806
But snake oil, sales people.

533
00:23:52,806 --> 00:23:55,725
Right. Like, not cool. I mean,

534
00:23:57,144 --> 00:23:59,563
you want real things in your life.

535
00:23:59,563 --> 00:24:02,065
The real things are hard work.

536
00:24:02,065 --> 00:24:07,320
And they're not as complicated
as people make it sound like.

537
00:24:07,737 --> 00:24:09,531
You know,

538
00:24:09,531 --> 00:24:12,033
I don't know in my opinion

539
00:24:12,033 --> 00:24:15,996
you're going to invest in the stock
market, get an index fund that

540
00:24:16,621 --> 00:24:20,208
and and as no the absolute bare

541
00:24:20,208 --> 00:24:23,211
minimum amount of expense like

542
00:24:23,336 --> 00:24:26,756
because they're charging for the next one
and just sitting there

543
00:24:27,090 --> 00:24:30,302
sitting until you retire and don't
think about it, don't worry about it.

544
00:24:30,719 --> 00:24:34,473
In fact, Warren Buffett had a bet
with a hedge fund manager,

545
00:24:35,474 --> 00:24:38,894
a ten year bet where they said,

546
00:24:38,894 --> 00:24:41,897
Buffett said, I bet anyone a lunch.

547
00:24:41,897 --> 00:24:44,900
Which means that

548
00:24:45,108 --> 00:24:48,695
if you invested in just the S&P 500,
which is like 500

549
00:24:48,695 --> 00:24:52,032
biggest stocks
in the US, 90% of your assets

550
00:24:52,657 --> 00:24:57,496
in that index and 10% in cash,
you could outperform any other.

551
00:24:57,913 --> 00:24:59,623
No, but no one's going to help. Okay.

552
00:24:59,623 --> 00:25:02,626
When you said SVB, S&P 500 is that you can

553
00:25:02,667 --> 00:25:06,338
you can put your money in all of them
just like that or you fund us.

554
00:25:06,338 --> 00:25:08,340
Yeah. Oh, just disperses it.

555
00:25:08,340 --> 00:25:10,759
You take a 500 bucks,
thousand bucks, whatever.

556
00:25:10,759 --> 00:25:13,053
You know Robinhood account in 20 minutes.

557
00:25:13,053 --> 00:25:18,058
You can do balance some stocks,
but there is some other tradable asset

558
00:25:18,058 --> 00:25:21,811
that is that's all 500 stocks okay.

559
00:25:22,103 --> 00:25:27,817
You put 500 bucks and you say like
I want to buy that, asset like spies.

560
00:25:27,859 --> 00:25:30,487
That would be oh yeah, I have Robinhood.

561
00:25:30,487 --> 00:25:32,656
Yeah. So there you go.
But it's not doing well.

562
00:25:32,656 --> 00:25:34,115
And I haven't looked at it in a while.

563
00:25:34,115 --> 00:25:36,117
And maybe I got to talk to you about that.

564
00:25:36,117 --> 00:25:38,912
That's the best way to do it. And Nike's
one of them.

565
00:25:38,912 --> 00:25:40,080
Look at it for a while.

566
00:25:40,080 --> 00:25:42,624
You individually stocks.

567
00:25:42,624 --> 00:25:45,627
So I should I have left over so I,

568
00:25:45,627 --> 00:25:48,630
I pick some individuals
and that could put the rest in S&P.

569
00:25:48,880 --> 00:25:52,592
My advice is always pick things
that you love the companies

570
00:25:52,801 --> 00:25:56,888
because you use the stuff
and don't worry about it then.

571
00:25:57,722 --> 00:25:58,515
And or

572
00:25:59,599 --> 00:26:01,685
like the vast bulk of your money

573
00:26:01,685 --> 00:26:06,565
into just yes be 500 or the Russell 1000
or some like basic

574
00:26:07,566 --> 00:26:09,609
index and P 500.

575
00:26:09,609 --> 00:26:10,860
They're called index funds.

576
00:26:10,860 --> 00:26:12,279
Just buy one of those.

577
00:26:12,279 --> 00:26:14,698
Sit and forget about it.

578
00:26:14,698 --> 00:26:15,407
Do you not?

579
00:26:15,407 --> 00:26:18,785
Is it easy to access and get your money
in and out of Robinhood?

580
00:26:18,868 --> 00:26:20,245
Do you do you use Robinhood?

581
00:26:20,245 --> 00:26:21,830
I use Robinhood a little bit.

582
00:26:21,830 --> 00:26:23,248
I do up most of my trades.

583
00:26:23,248 --> 00:26:25,375
Fidelity
does that when they're peanuts, right?

584
00:26:25,375 --> 00:26:27,711
Do they use the term peanuts or no?

585
00:26:27,711 --> 00:26:31,506
No is something else
I did a lot of, every time

586
00:26:31,506 --> 00:26:35,218
you buy something that like they do
fireworks, it's

587
00:26:35,218 --> 00:26:38,638
very cheesy to make you think
it's like it was fun in that way.

588
00:26:39,055 --> 00:26:41,391
Yes. Okay. Which is brilliant marketing.

589
00:26:41,391 --> 00:26:42,017
Let me see if I have.

590
00:26:42,017 --> 00:26:44,436
Robinhood is actually horrible for it.

591
00:26:44,436 --> 00:26:47,397
I mean, the only thing I own right now
on Robinhood is Bitcoin,

592
00:26:47,772 --> 00:26:49,649
because I think it's funny.

593
00:26:49,649 --> 00:26:50,650
Yeah, yeah.

594
00:26:50,650 --> 00:26:52,986
It's the Robinhood stocks okay.

595
00:26:52,986 --> 00:26:55,322
We'll talk more about that.
I don't want to get all personal on my

596
00:26:56,823 --> 00:27:00,577
oh back
to business pants your boy Damian.

597
00:27:00,577 --> 00:27:03,330
So our motto be a good friend.

598
00:27:03,330 --> 00:27:07,208
Hold the door, pick up trash,
give compliments, be charitable.

599
00:27:07,500 --> 00:27:09,836
What makes Damian a good friend?

600
00:27:09,836 --> 00:27:12,505
Oh, nothing.

601
00:27:12,505 --> 00:27:14,007
That's for you and Damian.

602
00:27:14,007 --> 00:27:17,010
Damian, I'll send this to you.

603
00:27:18,511 --> 00:27:20,096
No. Look, how did it start?

604
00:27:20,096 --> 00:27:21,181
Where did you meet them?

605
00:27:21,181 --> 00:27:22,307
We had.

606
00:27:22,307 --> 00:27:24,809
Well, a couple did it. MSCI.

607
00:27:24,809 --> 00:27:26,519
What's that stand for?

608
00:27:26,519 --> 00:27:27,812
It used to stand for something.

609
00:27:27,812 --> 00:27:31,608
Now it doesn't work, but it used to come
from Morgan Stanley Capital International

610
00:27:31,608 --> 00:27:33,568
as a part of mortgage. Gotcha.

611
00:27:33,568 --> 00:27:36,571
And then it flipped off to its own thing.

612
00:27:36,905 --> 00:27:42,619
All that company does is risk
analytics for stocks and index creation.

613
00:27:42,619 --> 00:27:44,996
That's what it does. Like,

614
00:27:44,996 --> 00:27:48,541
so we were doing
he was mostly governance, and I was doing

615
00:27:48,541 --> 00:27:51,795
as he probably was going to
let using the data, whatever.

616
00:27:52,879 --> 00:27:55,632
And we met
mostly because we were totally irreverent,

617
00:27:55,632 --> 00:27:58,635
like we didn't take yourselves too
seriously.

618
00:27:59,386 --> 00:28:02,305
We thought most of the

619
00:28:02,305 --> 00:28:06,267
we saw a lot of comedy and we would
we would share funny things that companies

620
00:28:06,267 --> 00:28:10,897
would say, you know, like for quirky
things he likes to do things like.

621
00:28:10,897 --> 00:28:13,817
So there's something called the CEO pay
ratio

622
00:28:13,817 --> 00:28:17,696
that is the CEO of a company, say
they make $1 million.

623
00:28:17,696 --> 00:28:18,279
Oh yeah.

624
00:28:18,279 --> 00:28:21,533
But the average that's Starbucks
is a hot topic, right?

625
00:28:21,533 --> 00:28:22,826
Starbucks.

626
00:28:22,826 --> 00:28:23,118
Yeah.

627
00:28:23,118 --> 00:28:24,703
The CEO pay ratio at Starbucks is,

628
00:28:24,703 --> 00:28:28,707
I think, 1400 to 1, 14,
17 to 1 or something like that.

629
00:28:28,915 --> 00:28:32,127
So it's basically the average.

630
00:28:32,127 --> 00:28:36,005
The median worker at Starbucks
made $17,000 last year.

631
00:28:36,756 --> 00:28:39,759
The CEO makes 1400 times that.

632
00:28:40,885 --> 00:28:41,594
Okay okay.

633
00:28:41,594 --> 00:28:43,680
So yeah yeah I like this ratio.

634
00:28:43,680 --> 00:28:47,976
It's like a way of saying like how much
discrepancy like how big is this.

635
00:28:48,184 --> 00:28:52,147
You see, over time, Damien,
the quirky things that he likes to do

636
00:28:52,647 --> 00:28:54,357
is like he likes to look at,

637
00:28:55,608 --> 00:28:56,359
one that he looked

638
00:28:56,359 --> 00:28:59,446
at was the relocation ratio.

639
00:29:00,155 --> 00:29:04,409
Because when a CEO is hired,
the company will pay relocation

640
00:29:04,409 --> 00:29:08,371
services to move them from wherever
they were to wherever the company is.

641
00:29:08,413 --> 00:29:09,164
Yeah.

642
00:29:09,164 --> 00:29:13,251
And he will say,
did you know the CEO made five times

643
00:29:13,251 --> 00:29:17,797
the average worker's salary
just to move, to move.

644
00:29:18,506 --> 00:29:19,716
Right. Like that just happened.

645
00:29:19,716 --> 00:29:20,884
You guys just mention that. Yeah.

646
00:29:20,884 --> 00:29:23,845
He does stuff like that
all the time. He always finds little.

647
00:29:23,845 --> 00:29:28,475
He likes to say, you know Brian Nicole,
who's the CEO of Starbucks

648
00:29:29,267 --> 00:29:32,270
had a 1400 to 1 ratio.

649
00:29:32,479 --> 00:29:34,981
Means that Brian Niccol

650
00:29:34,981 --> 00:29:38,693
made as much as the average worker
by 10 a.m..

651
00:29:38,735 --> 00:29:40,737
The first day of the year, right?

652
00:29:40,737 --> 00:29:43,656
Like that's the kind of.
That's the way he thinks.

653
00:29:43,656 --> 00:29:44,616
Yeah, that's good math.

654
00:29:44,616 --> 00:29:47,619
And very, catchy little catchy. A little.

655
00:29:48,119 --> 00:29:50,538
So we we bonded over stuff like that.

656
00:29:50,538 --> 00:29:54,876
So it's like Juan Soto
gets like $100,000 in a bat or some.

657
00:29:54,876 --> 00:29:56,795
There's some math there.

658
00:29:56,795 --> 00:29:58,505
There's a version of that. Right.

659
00:29:58,505 --> 00:30:02,133
And we get outraged
that one Soto gets a thousand for at bat

660
00:30:02,133 --> 00:30:03,551
because you're like, what am I getting?

661
00:30:03,551 --> 00:30:07,138
I'm only getting like,
you know, up to 60 average.

662
00:30:07,138 --> 00:30:08,640
Yeah, yeah, I really get it.

663
00:30:08,640 --> 00:30:12,060
But no one pays
attention to the fact that.

664
00:30:12,310 --> 00:30:14,687
What do you get for Brian Niccol?

665
00:30:14,687 --> 00:30:18,650
He made not $86 million
his first year, right?

666
00:30:18,858 --> 00:30:20,485
86 mil a year.

667
00:30:20,485 --> 00:30:22,111
Yeah, well, that's not for a year.

668
00:30:22,111 --> 00:30:24,781
That's like his first year with his bonus.

669
00:30:24,781 --> 00:30:26,199
Gotcha.

670
00:30:26,199 --> 00:30:29,410
And then the secret way it works
is when they bonus you.

671
00:30:29,410 --> 00:30:32,413
If you're CEO and you get a million bucks,
they will give you,

672
00:30:32,705 --> 00:30:37,335
you know, $100,000 in cash
and they'll give you $900,000 in stock.

673
00:30:37,585 --> 00:30:42,257
And they'll say to you, if you perform
at a certain level, you get all that.

674
00:30:42,257 --> 00:30:46,761
If you last three years before we get
that stuff, first of all, they never

675
00:30:47,720 --> 00:30:49,055
don't perform at the level.

676
00:30:49,055 --> 00:30:51,933
You get all the stock,
even if you're the worst company.

677
00:30:51,933 --> 00:30:53,852
Right? Like so. That's all.

678
00:30:53,852 --> 00:30:56,312
And number two is

679
00:30:56,312 --> 00:30:59,524
even if you don't last two years,
you always get one.

680
00:30:59,607 --> 00:31:00,233
Anyway.

681
00:31:00,233 --> 00:31:03,903
Choose number three
is if the stock just does

682
00:31:03,903 --> 00:31:06,823
whatever the market does
no better than the market.

683
00:31:06,823 --> 00:31:09,826
Basically,
if you have nothing to the company,

684
00:31:10,493 --> 00:31:13,830
you're still getting paid your 900,000

685
00:31:13,830 --> 00:31:16,833
you got is not $91,000, 900,000

686
00:31:17,375 --> 00:31:20,378
plus the increase in the stock price.

687
00:31:20,545 --> 00:31:25,592
So when you take Elon Musk
just got a monster pay package, $1

688
00:31:25,592 --> 00:31:29,137
trillion extra package, the stock he had

689
00:31:29,137 --> 00:31:32,140
and I say extra he had stock.

690
00:31:32,432 --> 00:31:35,768
If he hit all of the performance metrics
that they laid out,

691
00:31:36,853 --> 00:31:40,356
he would have been worth $1.6 trillion.

692
00:31:41,733 --> 00:31:43,359
Then the board

693
00:31:43,359 --> 00:31:47,488
and the investor said, well, to hit
all those numbers, we're going to give you

694
00:31:47,822 --> 00:31:51,200
an extra trillion dollar stock of that.

695
00:31:51,993 --> 00:31:55,246
I mean, we are it's absurd,

696
00:31:56,539 --> 00:31:57,498
like out of this world.

697
00:31:57,498 --> 00:31:59,167
Ridiculous.

698
00:31:59,167 --> 00:32:02,295
This is the level of absurdity
and people don't really know,

699
00:32:02,420 --> 00:32:03,212
and they don't pay attention.

700
00:32:03,212 --> 00:32:06,257
And they say, well, he's worth it
if he can, you know, go there

701
00:32:06,257 --> 00:32:07,467
more or less or something like that.

702
00:32:07,467 --> 00:32:09,302
It's like no one is worth it.

703
00:32:09,302 --> 00:32:10,553
Wow. No one's worth it.

704
00:32:10,553 --> 00:32:13,932
I mean, friends, imagine if,

705
00:32:14,390 --> 00:32:19,020
like, Elon Musk gave 1% exactly

706
00:32:20,480 --> 00:32:21,689
what gets going.

707
00:32:21,689 --> 00:32:24,692
Oh, maybe there's no school

708
00:32:24,901 --> 00:32:26,903
or delay

709
00:32:26,903 --> 00:32:28,363
or it's,

710
00:32:28,363 --> 00:32:30,323
Man.

711
00:32:30,323 --> 00:32:31,032
Yeah.

712
00:32:31,032 --> 00:32:33,368
You have two minutes.

713
00:32:33,368 --> 00:32:35,161
I expected a delay today.

714
00:32:35,161 --> 00:32:37,080
I thought it would be a delayed analysis,

715
00:32:37,080 --> 00:32:40,625
and we might not have school tomorrow
because it's going to snow again.

716
00:32:40,625 --> 00:32:42,335
1 to 3in during bus time.

717
00:32:42,335 --> 00:32:46,339
And now that that'll be a two hour
on a Wednesday, though.

718
00:32:46,339 --> 00:32:48,591
We already getting out early.

719
00:32:48,591 --> 00:32:49,884
So I'm going to get the kids.

720
00:32:49,884 --> 00:32:51,344
They'll go to lunch.

721
00:32:51,344 --> 00:32:53,346
They come back. They go home.
It's going to be a great day.

722
00:32:54,514 --> 00:32:56,933
It isn't that long enough to get together.

723
00:32:56,933 --> 00:32:57,934
Together?

724
00:32:57,934 --> 00:33:00,687
Yeah. Then a couple sneezes.

725
00:33:00,687 --> 00:33:01,729
Oh that's great.

726
00:33:01,729 --> 00:33:02,188
Speaking of.

727
00:33:02,188 --> 00:33:05,191
Yeah, we'll get, we'll,

728
00:33:06,150 --> 00:33:08,903
I was going to say, girl, dad, walk it.

729
00:33:08,903 --> 00:33:13,449
Dad, my last podcast was at walk
at school with Christina Connors.

730
00:33:13,449 --> 00:33:15,451
She went to walk at school.
Her teacher, Mrs.

731
00:33:15,451 --> 00:33:17,245
Rivera, was the music teacher.

732
00:33:17,245 --> 00:33:19,288
When Christina was in fourth grade. Mr.

733
00:33:19,288 --> 00:33:21,207
Verdi goes, hey,
you have a beautiful voice.

734
00:33:21,207 --> 00:33:22,917
You should say extra classes.

735
00:33:22,917 --> 00:33:28,089
Well, Christina, Christina went on to be
like a famous singer inspired by Rossetti.

736
00:33:28,089 --> 00:33:29,132
I had him in my classroom.

737
00:33:29,132 --> 00:33:33,678
So go back and check out at episode
160 Christina Connors.

738
00:33:33,678 --> 00:33:34,220
Good stuff.

739
00:33:34,220 --> 00:33:37,223
So we try to inspire students
to do good things.

740
00:33:37,265 --> 00:33:39,809
You know, if the kid likes art,
lead them in the art direction.

741
00:33:40,810 --> 00:33:44,272
Math, science, something,
you know, find it, find their path.

742
00:33:44,313 --> 00:33:45,898
So that's really cool.

743
00:33:45,898 --> 00:33:48,401
I'm a girl. Dad. Yeah. Man.

744
00:33:48,401 --> 00:33:49,318
Girl. Dad.

745
00:33:49,318 --> 00:33:52,321
Our last two podcast guests. 161 Rob.

746
00:33:52,405 --> 00:33:53,114
Girl dead.

747
00:33:53,114 --> 00:33:54,657
162 Marcus.

748
00:33:54,657 --> 00:33:57,660
Girl dead, owner of Maximum Beverage.

749
00:33:57,785 --> 00:34:00,747
Matt Whitney. Girl dead.

750
00:34:01,039 --> 00:34:02,915
So there's a lot of us out there.

751
00:34:02,915 --> 00:34:03,583
Out there.

752
00:34:03,583 --> 00:34:06,544
How about,
where'd you just go with the girls?

753
00:34:06,544 --> 00:34:07,587
North pole?

754
00:34:07,587 --> 00:34:10,339
Pick a pole.

755
00:34:10,339 --> 00:34:11,591
We went to Damien.

756
00:34:11,591 --> 00:34:14,594
I was funny, North Pole, because

757
00:34:14,844 --> 00:34:17,346
we, we were in Alaska.

758
00:34:17,346 --> 00:34:22,226
It turns out it's cheaper to fly to Alaska
if you have a.

759
00:34:22,685 --> 00:34:24,854
We had friends we could stay with.

760
00:34:24,854 --> 00:34:27,398
It was cheaper to fly to Alaska
with all of our gear,

761
00:34:27,398 --> 00:34:30,401
like a bunch of moves for three days,

762
00:34:30,443 --> 00:34:33,362
than it was to go to Okemo for three days.

763
00:34:33,362 --> 00:34:34,489
Geez.

764
00:34:34,489 --> 00:34:37,825
With five people,
I wonder if I have friends that.

765
00:34:37,825 --> 00:34:40,286
Do I have friends that make this happen
or what?

766
00:34:40,286 --> 00:34:43,206
Episode seven Seth Wickersham
Yeah, that's right,

767
00:34:43,206 --> 00:34:46,375
he wrote a book on Tom
Brady, wrote a book on quarterbacks.

768
00:34:46,626 --> 00:34:49,253
He's making the rounds
now. He's killing it.

769
00:34:49,253 --> 00:34:50,129
Did you read the book?

770
00:34:50,129 --> 00:34:52,298
I read both books. Yeah. Nice.

771
00:34:52,298 --> 00:34:54,092
Did he get you a signed copy?

772
00:34:54,092 --> 00:34:55,134
Nah, I had to get

773
00:34:56,135 --> 00:34:58,179
it. Good guy.

774
00:34:58,179 --> 00:34:59,555
Seth? No. Wonderful.

775
00:34:59,555 --> 00:35:01,140
He's very thoughtful and kind.

776
00:35:01,140 --> 00:35:04,977
I'm trying to get him to wear, like, a
Feeny pen or something when he's on tour.

777
00:35:04,977 --> 00:35:07,230
Or when they do the ESPN interviews.

778
00:35:07,230 --> 00:35:09,524
And, you know, you got the bookshelf.
Yeah, yeah.

779
00:35:09,524 --> 00:35:10,983
Can I get the magnet in the back?

780
00:35:10,983 --> 00:35:13,111
Come on. Set the masking to match.

781
00:35:13,111 --> 00:35:14,695
He had the sign in his yard for a while.

782
00:35:14,695 --> 00:35:15,780
Remember that? Yeah.

783
00:35:15,780 --> 00:35:18,116
Yeah I know
his yard is like three houses down.

784
00:35:18,116 --> 00:35:19,450
Good dude. Good dude.

785
00:35:19,450 --> 00:35:20,868
Also a neighbor, Susan.

786
00:35:20,868 --> 00:35:23,329
Do you know Susan and, Jason?

787
00:35:23,329 --> 00:35:23,996
Yes. Susan.

788
00:35:23,996 --> 00:35:25,540
Ivana. Yep. Yep.

789
00:35:25,540 --> 00:35:28,543
She was episode 139 oh, release.

790
00:35:28,835 --> 00:35:30,753
Coach. Author.

791
00:35:30,753 --> 00:35:31,838
Great.

792
00:35:31,838 --> 00:35:33,131
Over a thousand views.

793
00:35:33,131 --> 00:35:34,924
There.

794
00:35:34,924 --> 00:35:35,842
The people on my.

795
00:35:35,842 --> 00:35:38,845
We are the least successful.

796
00:35:39,178 --> 00:35:40,304
By like me.

797
00:35:40,304 --> 00:35:42,932
I don't know how that works out,
but that's how it worked out.

798
00:35:42,932 --> 00:35:43,474
You're doing great.

799
00:35:43,474 --> 00:35:45,351
You're doing great. Good neighborhood,
good community.

800
00:35:45,351 --> 00:35:46,602
You know?

801
00:35:46,602 --> 00:35:48,396
Oh, yeah.

802
00:35:48,396 --> 00:35:51,399
Back to your co-host.

803
00:35:51,482 --> 00:35:52,733
What are three keys? So.

804
00:35:52,733 --> 00:35:55,653
Oh, I left out one sponsor,
New England door and security.

805
00:35:55,653 --> 00:35:58,739
Watch what I'm going to do here
with New England door and security.

806
00:35:58,906 --> 00:36:01,534
What are three keys
that make you a great co-host?

807
00:36:03,452 --> 00:36:06,455
Wow, I never had a read and like that.

808
00:36:06,539 --> 00:36:09,876
Oh, shout out to Eric and Yori.

809
00:36:10,501 --> 00:36:15,631
Damian's Damian is much the he's the host
and I'm just I'm a guy that shows up.

810
00:36:15,631 --> 00:36:17,508
I'm a talk

811
00:36:17,508 --> 00:36:20,511
a decent talking head.

812
00:36:20,553 --> 00:36:21,137
Data.

813
00:36:21,137 --> 00:36:22,847
I see data for the tips.

814
00:36:22,847 --> 00:36:23,264
Data.

815
00:36:23,264 --> 00:36:29,937
Don't be afraid to screw up
because the minute you are, you suck.

816
00:36:30,521 --> 00:36:30,688
Right?

817
00:36:30,688 --> 00:36:33,274
Like, as soon as you turn
on a microphone camera.

818
00:36:33,274 --> 00:36:36,235
I spend my life in front of microphones
as a musician before day.

819
00:36:36,235 --> 00:36:39,197
And if you're afraid,

820
00:36:39,363 --> 00:36:41,699
you come off as afraid.

821
00:36:41,699 --> 00:36:45,036
And, I guess the last one to, the,

822
00:36:45,328 --> 00:36:48,956
active listener, which I'm not very good
at, actually, but I wish I was.

823
00:36:48,956 --> 00:36:49,874
That's very cool.

824
00:36:49,874 --> 00:36:51,542
I say that all the time
when I ask the three keys.

825
00:36:51,542 --> 00:36:55,129
Listening is always a key,
no matter your occupation.

826
00:36:55,129 --> 00:36:57,882
Teacher, real estate agent,
all the kids in class.

827
00:36:57,882 --> 00:37:00,134
That's why you have two ears
and one mouth.

828
00:37:00,134 --> 00:37:02,845
You should do twice as much listening
as you do talking.

829
00:37:02,845 --> 00:37:03,304
Does it work?

830
00:37:03,304 --> 00:37:04,680
Does it work? Yeah.

831
00:37:04,680 --> 00:37:06,933
Great question, Mr. Feeny.

832
00:37:06,933 --> 00:37:08,893
Mr. Feeny, you know, I hear Mr.

833
00:37:08,893 --> 00:37:11,145
Feeny about 250 times a day.

834
00:37:11,145 --> 00:37:13,564
Yeah,
but that seems like an undertaking, right?

835
00:37:13,564 --> 00:37:16,359
Middle school teachers here at about 100
times, high school

836
00:37:16,359 --> 00:37:20,613
teachers about 50 times
elementary school, 252 or 300 times a day.

837
00:37:20,613 --> 00:37:24,325
Are you going to go to start teaching at,
Sedgewick?

838
00:37:25,117 --> 00:37:27,453
My next move is going to be vice
principal somewhere.

839
00:37:27,453 --> 00:37:29,330
So yeah, yeah,

840
00:37:29,330 --> 00:37:31,707
I'm in 22 years, nine years at Kingsbury

841
00:37:31,707 --> 00:37:35,503
School, where I went to school as a kid
in Waterbury, Connecticut, 13 years

842
00:37:35,503 --> 00:37:38,798
at Wolcott, where my daughters went dream
come true when my girls were there.

843
00:37:38,798 --> 00:37:39,257
It's great.

844
00:37:40,508 --> 00:37:41,842
But now they're seniors.

845
00:37:41,842 --> 00:37:44,220
Crazy seniors in high school.

846
00:37:44,220 --> 00:37:46,597
Yeah, off to school.

847
00:37:46,597 --> 00:37:50,476
My oldest is 15, so I see.

848
00:37:50,559 --> 00:37:53,562
I see it coming. It's coming.

849
00:37:54,146 --> 00:37:55,106
Yeah. Education is great.

850
00:37:55,106 --> 00:37:57,358
You went to Brown? Did.

851
00:37:57,358 --> 00:37:58,526
I went to Brown.

852
00:37:58,526 --> 00:38:01,529
You did for a basketball game once.

853
00:38:01,946 --> 00:38:04,949
I went to the.

854
00:38:05,074 --> 00:38:07,743
I went to Yale versus Brown Riley Fox.

855
00:38:07,743 --> 00:38:10,371
My dude it was Brown is so funny.

856
00:38:10,371 --> 00:38:15,960
They, a kid, the football team was in,
you know, the north bleachers,

857
00:38:16,252 --> 00:38:19,714
the football teams
rollin up and heckling a Yale player

858
00:38:20,339 --> 00:38:23,342
and a kid half court at halftime,

859
00:38:23,426 --> 00:38:26,053
threw the ball, made it in the whole

860
00:38:26,053 --> 00:38:29,307
crowd, came in and rushed the court
like he won the championship.

861
00:38:29,598 --> 00:38:31,142
And the refs were like,
what are you guys doing?

862
00:38:31,142 --> 00:38:33,644
Get off the court.
This is a safety violation.

863
00:38:33,644 --> 00:38:34,437
It was so funny.

864
00:38:34,437 --> 00:38:36,564
But brown, beautiful campus. Yeah.

865
00:38:36,564 --> 00:38:38,316
Cool school.

866
00:38:38,316 --> 00:38:42,111
That woman was there 25 years ago now. So,

867
00:38:43,446 --> 00:38:45,781
then you got computer computers and music.

868
00:38:45,781 --> 00:38:46,198
Yeah.

869
00:38:46,198 --> 00:38:49,201
Which is basically their
their way of music production

870
00:38:49,201 --> 00:38:52,204
as live in the studio produced,

871
00:38:52,705 --> 00:38:56,000
produced music,
made weird music, experimental music.

872
00:38:56,876 --> 00:38:59,045
You know, it was early in digital music.

873
00:38:59,045 --> 00:39:02,256
And you did some of that, like Kanye
or you like Kanye or.

874
00:39:02,256 --> 00:39:05,217
No, I mean, I did before
he went full Nazi.

875
00:39:05,343 --> 00:39:06,844
Oh, that's right.

876
00:39:06,844 --> 00:39:09,805
I was going to ask for the other guy,
but I knew that I was going to

877
00:39:10,056 --> 00:39:12,183
still, bring him up.

878
00:39:12,183 --> 00:39:13,976
Who's a,

879
00:39:13,976 --> 00:39:16,979
what's the band that was at Wesleyan

880
00:39:17,396 --> 00:39:20,399
and at Wesleyan before?

881
00:39:20,524 --> 00:39:23,652
I don't know, I always think about that,
but can you play an instrument?

882
00:39:24,445 --> 00:39:25,613
I mean, I can't.

883
00:39:25,613 --> 00:39:28,949
Am I able to or am I good at, Yeah,

884
00:39:30,201 --> 00:39:30,785
I am.

885
00:39:30,785 --> 00:39:32,119
You look like a guitar player.

886
00:39:32,119 --> 00:39:35,122
Yeah, it's
good to say I was the lead singer.

887
00:39:35,581 --> 00:39:38,584
And what was the name of the band?

888
00:39:38,626 --> 00:39:41,670
The the last one.

889
00:39:42,421 --> 00:39:45,424
And when I just graduated
college, moved to New York City,

890
00:39:45,424 --> 00:39:48,719
and we played all over the city,
but we played CBGB's for, for,

891
00:39:50,888 --> 00:39:52,848
the vertical gin line,

892
00:39:52,848 --> 00:39:55,851
vertical gin line, which was a

893
00:39:55,976 --> 00:39:58,896
misquote of,

894
00:39:58,896 --> 00:40:02,191
from The Bonfire of the vanities
that my the guitarist

895
00:40:02,191 --> 00:40:05,194
thought was funny having a lot,

896
00:40:05,277 --> 00:40:08,280
but that's what the name was.

897
00:40:08,614 --> 00:40:09,865
Very cool, very cool.

898
00:40:09,865 --> 00:40:11,826
We do another game.
You ready for another game?

899
00:40:11,826 --> 00:40:13,202
Yeah, I will do.

900
00:40:13,202 --> 00:40:17,915
It's called first, last,
best, worst first last password.

901
00:40:18,582 --> 00:40:19,917
Was it sponsored?

902
00:40:19,917 --> 00:40:21,836
Oh, this is sponsored.

903
00:40:21,836 --> 00:40:23,295
We'll say Luna Pizza sponsored it.

904
00:40:23,295 --> 00:40:24,380
We're here at Luna Pizza.

905
00:40:24,380 --> 00:40:26,006
Thank you Luna Pizza for sponsoring.

906
00:40:26,006 --> 00:40:28,592
We're going to get our drinks. Last

907
00:40:29,677 --> 00:40:32,096
weekend's best is going to be the food.

908
00:40:32,096 --> 00:40:34,348
We're going to be leaving.

909
00:40:34,348 --> 00:40:36,183
Here you go. There you go, there you go.

910
00:40:36,183 --> 00:40:40,813
Well, no, mostly it's going to be podcasts
or or so your first podcast,

911
00:40:41,397 --> 00:40:44,650
your last podcast, most
recent your best one and your worst one.

912
00:40:45,943 --> 00:40:46,861
First one.

913
00:40:46,861 --> 00:40:49,864
I don't even remember the first one.

914
00:40:50,030 --> 00:40:51,365
It was a probably nightmare.

915
00:40:51,365 --> 00:40:53,701
We came out hard.

916
00:40:53,701 --> 00:40:56,078
We just left MSCI.

917
00:40:56,078 --> 00:40:59,623
So we came out
hard and talked about the industry stuff.

918
00:41:01,292 --> 00:41:04,545
We had a quick following though,
because we launched the I launched

919
00:41:04,545 --> 00:41:07,673
a podcast and I

920
00:41:07,673 --> 00:41:10,676
so all the people at MSCI
and also that podcast

921
00:41:11,719 --> 00:41:14,430
for that, the last one

922
00:41:14,430 --> 00:41:16,015
was last Thursday.

923
00:41:16,015 --> 00:41:19,018
We're actually behind,
we're usually twice a week

924
00:41:19,143 --> 00:41:21,937
and then we have a second show
we do once a week.

925
00:41:21,937 --> 00:41:23,522
But, we talked about.

926
00:41:25,649 --> 00:41:27,026
Talk a lot about,

927
00:41:27,026 --> 00:41:30,154
Musk and Epstein and, you

928
00:41:30,154 --> 00:41:34,116
know, accountability
or lack of accountability

929
00:41:34,116 --> 00:41:37,620
in the business world
for Epstein talks about,

930
00:41:38,996 --> 00:41:40,956
AI stuff.

931
00:41:40,956 --> 00:41:42,625
Best.

932
00:41:42,625 --> 00:41:45,628
So there's a run a long time ago, we did,

933
00:41:46,378 --> 00:41:49,924
where we dove into Boeing
right after the planes fell in the sky.

934
00:41:49,924 --> 00:41:55,304
And we found all these actually
launched the company,

935
00:41:55,304 --> 00:41:59,225
but I think the data for our company,
because what we did is

936
00:41:59,225 --> 00:42:02,686
I looked at the board of directors
of Boeing because we couldn't figure out

937
00:42:03,395 --> 00:42:05,397
why the CEO hadn't been fired.

938
00:42:05,397 --> 00:42:08,275
Two planes fell out of the sky,

939
00:42:08,275 --> 00:42:11,278
400 people, 350 people died.

940
00:42:11,529 --> 00:42:14,532
And the planes are grounded worldwide.

941
00:42:14,907 --> 00:42:17,910
And the CEO said,
we're trying to figure out why.

942
00:42:18,452 --> 00:42:19,828
So we did a deep dive.

943
00:42:19,828 --> 00:42:24,542
The way accountability works at a public
company is is

944
00:42:24,959 --> 00:42:28,462
the CEO's boss is the board
the board's boss is the investor?

945
00:42:29,004 --> 00:42:30,297
Yep. Okay.

946
00:42:30,297 --> 00:42:32,466
So you get to choose the board. The board.

947
00:42:32,466 --> 00:42:34,885
Then what is it responsible for?

948
00:42:34,885 --> 00:42:37,137
Removing the CEO, hiring new CEO?

949
00:42:39,306 --> 00:42:39,807
We can figure

950
00:42:39,807 --> 00:42:42,810
out why he started
job is Dennis Muilenburg.

951
00:42:43,352 --> 00:42:47,314
So we did a deep dive on the board
within 30 years of the board's past.

952
00:42:47,314 --> 00:42:50,276
And we found that two thirds of the board

953
00:42:50,401 --> 00:42:53,487
that existed at the
when the plane saw this guy

954
00:42:53,988 --> 00:42:56,699
were, clients, either

955
00:42:56,699 --> 00:43:00,703
directly or indirectly, of one person
on the board's lobbying firm.

956
00:43:00,703 --> 00:43:03,747
So there was a guy on the board,
he owned the lobbying firm.

957
00:43:03,747 --> 00:43:06,750
He's an ex Reagan administration guy,

958
00:43:06,875 --> 00:43:09,878
and they almost
all used his lobbying firm.

959
00:43:10,379 --> 00:43:14,300
So we start asking like,
well, is the CEO even in charge?

960
00:43:14,300 --> 00:43:15,634
Is it that guy who's in charge?

961
00:43:15,634 --> 00:43:18,512
Is he brought all his friends to the board
and they make the decision.

962
00:43:18,512 --> 00:43:22,182
So and that's what launched our analytics.

963
00:43:22,182 --> 00:43:25,769
But we ended up getting we did
a couple of episodes where he did that,

964
00:43:26,186 --> 00:43:29,231
like did this deep dive
and we got a call from a whistleblower

965
00:43:30,357 --> 00:43:31,775
who said, you're on the right track.

966
00:43:31,775 --> 00:43:35,654
It was one of those like tinfoil league
conspiracy theories.

967
00:43:35,696 --> 00:43:38,616
Nice, I like it.
Did you have him on the air?

968
00:43:38,616 --> 00:43:41,619
No, no it was
it's a little too volatile to do that.

969
00:43:41,619 --> 00:43:44,330
And he basically said keep going.

970
00:43:44,330 --> 00:43:45,956
You know you're absolutely right.

971
00:43:45,956 --> 00:43:48,959
You know you totally nailed it.

972
00:43:48,959 --> 00:43:50,377
Did the guy end up getting fired?

973
00:43:50,377 --> 00:43:54,048
He was he had been fired, which is like
one of the things that we were like,

974
00:43:54,632 --> 00:43:56,175
you think you caused that or.

975
00:43:56,175 --> 00:43:57,426
No, no, no. The whistle.

976
00:43:57,426 --> 00:43:59,428
No no no, that that CEO, did he get fired?

977
00:43:59,428 --> 00:44:01,347
Oh, he ended up getting fired. Yeah. Yeah.

978
00:44:01,347 --> 00:44:02,556
I mean, they never get fired.

979
00:44:02,556 --> 00:44:07,102
They step down, and take their package
and all their stocks get all their stuff

980
00:44:07,102 --> 00:44:09,480
and never get fired. For
real. For the most part.

981
00:44:09,480 --> 00:44:10,856
Is he rehired somewhere else?

982
00:44:12,191 --> 00:44:15,069
No. He was on the board of a,

983
00:44:15,069 --> 00:44:17,446
a, private startup

984
00:44:17,446 --> 00:44:22,910
that was doing, like,
AI and farm equipment, that kind of thing.

985
00:44:23,243 --> 00:44:24,787
That was a couple years ago.

986
00:44:24,787 --> 00:44:26,205
Yeah, I remember that.

987
00:44:26,205 --> 00:44:28,248
Oh, that's cool.
That's that's interesting stuff.

988
00:44:28,248 --> 00:44:29,583
You looked into that?

989
00:44:29,583 --> 00:44:33,420
I mean, like, we like good shows,
but that one was a while ago,

990
00:44:33,420 --> 00:44:36,340
and I one sticks out
because some of the actually like

991
00:44:36,340 --> 00:44:37,758
we got a whistleblower called.

992
00:44:37,758 --> 00:44:39,009
Yeah.

993
00:44:39,009 --> 00:44:42,012
Worst.

994
00:44:45,099 --> 00:44:47,559
And we've had some, we had,

995
00:44:47,559 --> 00:44:50,312
worst exactly on this one.

996
00:44:50,312 --> 00:44:53,607
We ran for president for Oh.

997
00:44:53,607 --> 00:44:54,358
Yep yep yep.

998
00:44:54,358 --> 00:44:57,361
We had him on the show.

999
00:44:57,736 --> 00:45:00,864
We had him on the show before, you know,
he was running for president,

1000
00:45:01,740 --> 00:45:05,577
and he was going on every podcast
he could find.

1001
00:45:05,911 --> 00:45:08,455
So it wasn't like he'd
listen to our show on it.

1002
00:45:08,455 --> 00:45:09,081
Come on.

1003
00:45:09,081 --> 00:45:11,625
He's got anyone who invited you. Just.

1004
00:45:11,625 --> 00:45:13,585
Oh, come on, I missed.
I missed the boat on that.

1005
00:45:13,585 --> 00:45:15,337
Yeah, he missed it.

1006
00:45:15,337 --> 00:45:17,965
And, it's a sad day.

1007
00:45:17,965 --> 00:45:20,008
What does that say?

1008
00:45:20,008 --> 00:45:23,971
Like, who was crusading against diversity,
equity and inclusion?

1009
00:45:23,971 --> 00:45:27,808
He was crusading against,
you know, at the time, it was,

1010
00:45:27,808 --> 00:45:30,811
critical race theory and stuff like that.

1011
00:45:31,061 --> 00:45:32,396
And we had him on the show, and

1012
00:45:33,689 --> 00:45:35,190
Damien, he we played a

1013
00:45:35,190 --> 00:45:38,736
quiz game with them
where you rate a headline

1014
00:45:39,361 --> 00:45:43,115
from worst to best, like,
give it a 0 to 10 is a good headline

1015
00:45:43,115 --> 00:45:47,786
in Batman and Damien Page headlines
specifically to troll one page.

1016
00:45:47,786 --> 00:45:51,874
The headline that was, you know,
5% of fortune

1017
00:45:51,874 --> 00:45:54,877
500 company CEOs are women.

1018
00:45:55,919 --> 00:45:58,922
And Damien was like,
is that a good headline or a bad headline?

1019
00:45:59,339 --> 00:46:02,342
And Vivek was like, that's irrelevant.

1020
00:46:02,676 --> 00:46:06,263
Like it's it's it's I don't know why
we why we talk about that at all.

1021
00:46:07,014 --> 00:46:10,017
And then we got into it
where we were saying,

1022
00:46:10,684 --> 00:46:12,102
well,

1023
00:46:12,102 --> 00:46:15,105
on average,
women are actually more educated than men.

1024
00:46:16,565 --> 00:46:19,318
Women have all the same experience.

1025
00:46:19,318 --> 00:46:22,738
Wouldn't you expect executives, CEOs

1026
00:46:22,946 --> 00:46:26,867
to be roughly close to 50%, at least,

1027
00:46:26,867 --> 00:46:30,662
like some proportion
of what exists in the talent pool?

1028
00:46:31,330 --> 00:46:36,126
And he ended up saying,
and then we got down the path of,

1029
00:46:36,126 --> 00:46:40,672
like, systemic bias and all these like
educational gaps, all these things.

1030
00:46:40,672 --> 00:46:43,175
And he ended up
sort of admitting, saying out loud,

1031
00:46:45,260 --> 00:46:46,053
how did he say that?

1032
00:46:46,053 --> 00:46:49,932
He was like, well, there
there was systemic bias against the way

1033
00:46:50,474 --> 00:46:52,100
these people were taught.

1034
00:46:52,100 --> 00:46:55,479
And we said on the show
that it's critical race theory.

1035
00:46:55,646 --> 00:47:00,567
And like you just described, critical race
theory was like the systemic bias.

1036
00:47:00,567 --> 00:47:01,819
Is it gaps? Yeah.

1037
00:47:01,819 --> 00:47:04,822
Like black people and diverse people

1038
00:47:05,572 --> 00:47:08,158
face equality

1039
00:47:08,158 --> 00:47:11,161
and understanding that bias
when you start expected it.

1040
00:47:11,286 --> 00:47:12,329
And he quit.

1041
00:47:12,329 --> 00:47:13,455
He quit the show.

1042
00:47:13,455 --> 00:47:15,082
Hung up. Sorry, guys, I gotta go.

1043
00:47:15,082 --> 00:47:19,253
This is great, but I'm really busy now
and I gotta get out.

1044
00:47:19,253 --> 00:47:22,256
So I got nice.

1045
00:47:22,589 --> 00:47:24,842
That might have been are the worst
and not the worst

1046
00:47:24,842 --> 00:47:25,968
because it was like a bad show.

1047
00:47:25,968 --> 00:47:28,637
The worst
because it was like a train wreck of

1048
00:47:28,637 --> 00:47:31,265
who else did you have on like, famous
names? No.

1049
00:47:31,265 --> 00:47:31,557
No one.

1050
00:47:31,557 --> 00:47:32,683
Famous people.

1051
00:47:32,683 --> 00:47:36,061
Like we had a senator from Illinois on.

1052
00:47:36,061 --> 00:47:39,773
In fact, you know, a bunch of people
on our space governance experts

1053
00:47:39,773 --> 00:47:42,776
who would be famous to teach,
you know, governance.

1054
00:47:42,818 --> 00:47:45,571
So, yeah, you gave the friends,
you gave a Feeny Talks a friend

1055
00:47:45,571 --> 00:47:49,074
shout out one episode
we did a long time ago.

1056
00:47:49,366 --> 00:47:51,994
A while ago, we got we're going
to do it again now. Like,

1057
00:47:53,036 --> 00:47:54,538
we'll have to have you come on and play.

1058
00:47:54,538 --> 00:47:57,207
Quiz. Oh, I would love that.

1059
00:47:57,207 --> 00:47:58,834
Let's see. Where. Where are you?
Are you sure?

1060
00:47:58,834 --> 00:48:01,837
I think it.

1061
00:48:04,089 --> 00:48:06,216
March 12th, 2020.

1062
00:48:06,216 --> 00:48:07,843
There it is.

1063
00:48:07,843 --> 00:48:08,802
Let's go.

1064
00:48:08,802 --> 00:48:11,013
Heyday

1065
00:48:11,013 --> 00:48:12,264
business.

1066
00:48:12,264 --> 00:48:15,267
Oh, and then Seth, I mentioned Seth.

1067
00:48:16,143 --> 00:48:16,768
Yeah, let's.

1068
00:48:16,768 --> 00:48:19,605
Let's have me back on. That'd be great.

1069
00:48:19,605 --> 00:48:20,147
We can talk.

1070
00:48:20,147 --> 00:48:22,983
I'll ask you, what's the, plc?

1071
00:48:22,983 --> 00:48:25,319
What's an SSD

1072
00:48:25,319 --> 00:48:28,238
as a Social Security?

1073
00:48:28,238 --> 00:48:29,990
What's an IEP?

1074
00:48:29,990 --> 00:48:33,035
Oh, that one is, like, extra help.

1075
00:48:33,243 --> 00:48:35,412
Yep yep yep yep.

1076
00:48:35,412 --> 00:48:37,080
Espec espec.

1077
00:48:37,080 --> 00:48:40,083
That's very good. Okay okay okay.

1078
00:48:40,334 --> 00:48:41,001
Yeah.

1079
00:48:41,001 --> 00:48:42,085
What do I know?

1080
00:48:42,085 --> 00:48:45,088
Smarter balance assessment Consortium,

1081
00:48:45,672 --> 00:48:49,551
an individual education
program is for, like, on your way.

1082
00:48:49,593 --> 00:48:52,596
Yeah, a lot of good stuff.

1083
00:48:53,055 --> 00:48:55,140
Wow, that was good. Good.

1084
00:48:55,140 --> 00:48:57,059
Oh, some upcoming events. Oh, girl.

1085
00:48:57,059 --> 00:48:59,603
Dad, I supposed to give you
the slap bracelets for your girls?

1086
00:48:59,603 --> 00:49:03,440
Oh, we just had 90s
night at the, Wolfpack game,

1087
00:49:04,524 --> 00:49:04,942
but in the

1088
00:49:04,942 --> 00:49:08,153
90s, they made these things illegal
to cheat, putting people.

1089
00:49:08,695 --> 00:49:09,571
Oh, yeah. You're right.

1090
00:49:09,571 --> 00:49:11,323
Thanks for pulling on my whole.

1091
00:49:11,323 --> 00:49:14,159
My whole event are those 80s and 90s.

1092
00:49:14,159 --> 00:49:14,910
They fix them?

1093
00:49:14,910 --> 00:49:17,621
No, they used to be metal, actually.
You're right. Yeah, right. Right.

1094
00:49:17,621 --> 00:49:20,582
And now it's like a different.
Yeah, it's a different thing.

1095
00:49:20,582 --> 00:49:22,084
They'll love these.

1096
00:49:22,084 --> 00:49:25,295
Dillon, my youngest,
is going to show up at school. Yes.

1097
00:49:25,295 --> 00:49:26,964
Did she give you the sticker?

1098
00:49:26,964 --> 00:49:27,673
She did. Yeah.

1099
00:49:27,673 --> 00:49:29,925
Yeah. Okay. Cool, cool.
I gave it a sticker.

1100
00:49:29,925 --> 00:49:30,968
I was like, you dad's coming on.

1101
00:49:30,968 --> 00:49:33,011
Write me some questions.

1102
00:49:33,011 --> 00:49:35,389
She's like, ask him about being a podcast.

1103
00:49:35,389 --> 00:49:37,766
So I'm like, I already know that. Thanks.

1104
00:49:37,766 --> 00:49:39,559
Give me some inside source.

1105
00:49:39,559 --> 00:49:42,270
Know what I did? No. It's fine.

1106
00:49:43,313 --> 00:49:44,314
How about new park, bro?

1107
00:49:44,314 --> 00:49:45,649
You ever go to New Park Brewery?

1108
00:49:45,649 --> 00:49:46,149
Yeah.

1109
00:49:46,149 --> 00:49:49,653
Yeah, yeah, I'm not a drinker,
but we go down good pizza.

1110
00:49:50,112 --> 00:49:51,405
Oh, yeah.

1111
00:49:51,405 --> 00:49:53,615
And they got a food trucks outside
sometimes.

1112
00:49:53,615 --> 00:49:54,658
Yep, yep.

1113
00:49:54,658 --> 00:49:57,244
You know, a great guy I want to thank.

1114
00:49:57,244 --> 00:49:58,495
Tom. Great.

1115
00:49:58,495 --> 00:50:01,623
I just saw him
the other day, made a great donation.

1116
00:50:01,623 --> 00:50:04,626
We hosted the 150th podcast. There it was.

1117
00:50:04,626 --> 00:50:05,919
We had a band at the end.

1118
00:50:05,919 --> 00:50:07,337
It was great shout out.

1119
00:50:07,337 --> 00:50:07,713
Do you know?

1120
00:50:07,713 --> 00:50:10,799
Oh, do you know Frank De tank is.

1121
00:50:11,550 --> 00:50:14,553
I know Frank attend from, old school.

1122
00:50:14,636 --> 00:50:15,220
Old school?

1123
00:50:15,220 --> 00:50:17,973
Yeah. This is Frank
the tank from Barstool.

1124
00:50:17,973 --> 00:50:20,976
He lost 300 pounds.

1125
00:50:21,184 --> 00:50:24,187
Podcast guest one 103.

1126
00:50:24,271 --> 00:50:26,565
It was cool to have him on a record.

1127
00:50:26,565 --> 00:50:27,858
Podcast.

1128
00:50:27,858 --> 00:50:28,734
Let's go. Yeah.

1129
00:50:28,734 --> 00:50:30,444
Sherry Kanter you mentioned her.

1130
00:50:30,444 --> 00:50:33,947
She was like 70 I'm making that one up.

1131
00:50:33,947 --> 00:50:37,367
But yeah
but you sound like the throw it out there.

1132
00:50:37,367 --> 00:50:39,870
Actually I have a Rain Man. Yes.

1133
00:50:39,870 --> 00:50:43,999
This year down 35 she was start way off.

1134
00:50:44,166 --> 00:50:46,585
We have we've done.

1135
00:50:46,585 --> 00:50:49,755
When we launched
we were doing daily juice

1136
00:50:49,755 --> 00:50:53,341
first two years with daily
and then we moved to twice a week.

1137
00:50:53,717 --> 00:51:00,098
We have a thousand easy I, I can't
remember I can't remember Thursdays.

1138
00:51:00,182 --> 00:51:01,808
They have cool titles.

1139
00:51:01,808 --> 00:51:02,809
Yeah.

1140
00:51:02,809 --> 00:51:03,477
Some things that.

1141
00:51:03,477 --> 00:51:07,856
Oh we oh yeah we talked about IPO
bro P0 I iPod.

1142
00:51:07,939 --> 00:51:09,149
Oh yeah.

1143
00:51:09,149 --> 00:51:13,779
Oh chief operations
I knew that one CFO finance

1144
00:51:13,779 --> 00:51:17,699
officer d I
we mentioned VC venture capital.

1145
00:51:18,241 --> 00:51:22,746
Venture capital I ESG yeah Alaska.

1146
00:51:22,746 --> 00:51:24,748
We talked about ring doorbell.

1147
00:51:24,748 --> 00:51:26,541
Oh that's kind of crazy.

1148
00:51:26,541 --> 00:51:28,085
That's Super Bowl ad turned that.

1149
00:51:28,085 --> 00:51:29,252
Yeah.

1150
00:51:29,252 --> 00:51:32,798
Did you how did you feel about that
I those creepy I have ring doorbell.

1151
00:51:32,839 --> 00:51:36,093
You don't have a ring doorbell
I have the Google and

1152
00:51:37,135 --> 00:51:37,385
yeah.

1153
00:51:37,385 --> 00:51:37,803
What was that.

1154
00:51:37,803 --> 00:51:42,057
So the guy I can type in
and look through everyone's ring doorbell

1155
00:51:42,099 --> 00:51:46,645
for my dog, I totally sure
whether it's like ring is watching

1156
00:51:46,645 --> 00:51:48,271
and they'll tell you where the dog is,

1157
00:51:48,271 --> 00:51:51,733
or you can see the ring network or what
that is.

1158
00:51:52,984 --> 00:51:54,778
But they put it

1159
00:51:54,778 --> 00:51:58,865
they killed the partnership with,
I mean, they they pulled it,

1160
00:51:59,116 --> 00:52:01,451
they had a partnership
with another company

1161
00:52:01,451 --> 00:52:04,246
that they were doing this
with when they pulled that partnership.

1162
00:52:04,246 --> 00:52:07,374
And then the CEO of ring has been out,
you know.

1163
00:52:07,624 --> 00:52:08,166
Who's that?

1164
00:52:08,166 --> 00:52:09,376
Oh, God.

1165
00:52:09,376 --> 00:52:11,336
That guy's name is going to escalate.

1166
00:52:11,336 --> 00:52:12,838
Who's on their board?

1167
00:52:12,838 --> 00:52:14,256
Well, business is on that board.

1168
00:52:14,256 --> 00:52:18,927
You mean to Jack and, they're a couple
like multi borders, but it's,

1169
00:52:20,387 --> 00:52:23,390
these are so Amazon's with ring rings
with Amazon.

1170
00:52:23,431 --> 00:52:24,975
Yeah yeah they own them.

1171
00:52:24,975 --> 00:52:30,272
So one of the things
that people don't know is when you go,

1172
00:52:30,272 --> 00:52:33,275
for instance you go to a liquor store,
you want some beer.

1173
00:52:33,275 --> 00:52:37,195
You're looking at the wall of beer and
you're like, oh man, I really feel like,

1174
00:52:37,195 --> 00:52:41,908
I like some light IPA this
and it looks like a craft beer.

1175
00:52:42,993 --> 00:52:45,996
They're almost all owned by two companies,

1176
00:52:46,288 --> 00:52:49,916
Anheuser-Busch
and who, InBev and, Molson Coors.

1177
00:52:50,250 --> 00:52:50,792
Oh, okay.

1178
00:52:50,792 --> 00:52:54,087
So there might be there's modelo,
and like, there's

1179
00:52:54,087 --> 00:52:57,215
another there's a couple other companies,
but you go to like target

1180
00:52:57,215 --> 00:53:00,844
and you buy like, you know, like,
you know, like toilet paper.

1181
00:53:01,344 --> 00:53:07,350
And almost every brand is one of Scott's
charm and all of fall under one company.

1182
00:53:07,350 --> 00:53:09,060
A lot of these things are actually.

1183
00:53:09,060 --> 00:53:10,687
Oh, is that a monopoly or.

1184
00:53:10,687 --> 00:53:13,732
No, it's not.
They do brand differentiation.

1185
00:53:13,732 --> 00:53:18,445
And you could argue that it is a monopoly,
but it's there's not a barrier to entry.

1186
00:53:18,445 --> 00:53:20,447
So are you a monopoly.

1187
00:53:20,447 --> 00:53:23,200
Do you need a barrier of entry
to get in the market?

1188
00:53:23,200 --> 00:53:25,493
Anybody can make toilet paper
if they really wanted to.

1189
00:53:25,493 --> 00:53:27,704
And what about like, this is crazy.

1190
00:53:27,704 --> 00:53:30,415
Maybe off topic, but Kirkland,
how does Kirkland.

1191
00:53:30,415 --> 00:53:33,335
They were like, oh, that's Tito's,
but it says Kirkland on it

1192
00:53:33,335 --> 00:53:36,296
or that's title is club
but it says Kirkland on it.

1193
00:53:36,296 --> 00:53:37,797
How does Kirkland get away with that?

1194
00:53:37,797 --> 00:53:40,800
Costco's
brand is Kirkland and Costco actually,

1195
00:53:41,218 --> 00:53:43,845
went to sources, a

1196
00:53:45,472 --> 00:53:47,807
so you can't really unless you happen

1197
00:53:47,807 --> 00:53:51,895
to have that formula for something
you can't really like, claim.

1198
00:53:51,895 --> 00:53:56,191
You know, you have the only formula
for toilet paper so they can go out

1199
00:53:56,191 --> 00:53:59,194
and they can find the same source,
and they can go to the substance

1200
00:53:59,361 --> 00:54:03,281
and undercut it, undercut it,
or like buy in a different way or,

1201
00:54:04,074 --> 00:54:07,118
and they can put up the same products,
their generic products.

1202
00:54:07,118 --> 00:54:10,205
So but Kirkland to

1203
00:54:10,205 --> 00:54:13,250
their credit, is like pretty good.

1204
00:54:13,375 --> 00:54:16,169
Like 80% is good. Yeah.
They're more quantity, right.

1205
00:54:16,169 --> 00:54:18,463
They'll just get you to buy more
because it's cheaper.

1206
00:54:18,463 --> 00:54:21,841
You can get like a
you go get olive oil for berry.

1207
00:54:21,841 --> 00:54:23,385
Oh stop and shop right.

1208
00:54:23,385 --> 00:54:26,137
Cost 25 bucks for like one thing.

1209
00:54:26,137 --> 00:54:30,475
You spend $25,
you get something, you know 50% larger.

1210
00:54:30,850 --> 00:54:31,643
Yeah.

1211
00:54:31,643 --> 00:54:35,981
It's Kirkland brand and both of them
are like watered down olive oil.

1212
00:54:35,981 --> 00:54:37,565
It's not like single sauce.

1213
00:54:37,565 --> 00:54:41,987
Who's the CEO of Costco
CEO Costco is wrong.

1214
00:54:41,987 --> 00:54:44,906
Fat Chris from that choice.

1215
00:54:44,906 --> 00:54:45,949
What about,

1216
00:54:47,742 --> 00:54:48,118
shoot.

1217
00:54:48,118 --> 00:54:51,329
Oh, Whole Foods and Aldi's.

1218
00:54:51,329 --> 00:54:52,372
What's with that connection?

1219
00:54:52,372 --> 00:54:54,416
They say the same foods that Aldi's

1220
00:54:54,416 --> 00:54:57,252
that you can get at whole Foods,
but it's a lot cheaper.

1221
00:54:57,252 --> 00:54:58,628
Maybe a different label as well.

1222
00:54:58,628 --> 00:55:01,631
Similar to the Kirkland deal
they're selling you.

1223
00:55:02,465 --> 00:55:05,844
Just it's a there's something
the brand is not selling you anything.

1224
00:55:05,885 --> 00:55:08,763
The food's not.
And that's also Amazon, right.

1225
00:55:08,763 --> 00:55:11,599
Also Amazon. Yeah. Amazon

1226
00:55:11,599 --> 00:55:14,602
conspiracy to confirm or deny.

1227
00:55:15,353 --> 00:55:18,273
The movie Melania Trump movie.

1228
00:55:18,273 --> 00:55:20,191
Yeah. Was it was.

1229
00:55:20,191 --> 00:55:23,194
Yes. Was it was a way to get money

1230
00:55:24,029 --> 00:55:26,406
for Bezos just to pay. Right.

1231
00:55:26,406 --> 00:55:29,242
So what did you talk about this yet or.
No we did a little bit.

1232
00:55:29,242 --> 00:55:32,037
But it was just a blatant graft.

1233
00:55:32,037 --> 00:55:32,245
Right.

1234
00:55:32,245 --> 00:55:35,040
Like, because the movie's not doing well.

1235
00:55:35,040 --> 00:55:36,708
Well, depending on who you ask.

1236
00:55:36,708 --> 00:55:39,711
The most expensive documentary ever. Yeah.

1237
00:55:39,794 --> 00:55:42,797
And it had and I think.

1238
00:55:43,131 --> 00:55:43,423
Where

1239
00:55:44,382 --> 00:55:46,134
did you see it?

1240
00:55:46,134 --> 00:55:49,679
And I watched one of clips that I got,
I don't feel like I don't need.

1241
00:55:49,679 --> 00:55:54,392
I read, I read reviews, but conservative
reviews, and I read, liberal reviews.

1242
00:55:54,934 --> 00:55:58,688
And the fact is, it just sounds like
another dumb documentary.

1243
00:55:58,855 --> 00:56:01,733
It doesn't sound like there's
anything new.

1244
00:56:01,733 --> 00:56:03,985
And I didn't.

1245
00:56:03,985 --> 00:56:07,322
I mean, she's not going to say this
first, like, so I can't be like,

1246
00:56:07,322 --> 00:56:08,615
yeah, my marriage sucks.

1247
00:56:08,615 --> 00:56:11,576
And I wish I could go back to, you know,

1248
00:56:12,118 --> 00:56:14,954
living in New York,
you know, walking on is one way.

1249
00:56:14,954 --> 00:56:16,414
And then I got say that.

1250
00:56:16,414 --> 00:56:18,458
So, Yeah.

1251
00:56:18,458 --> 00:56:21,086
And then they wanted to double troll you.

1252
00:56:21,086 --> 00:56:24,214
They they hired
the director who was, like,

1253
00:56:24,631 --> 00:56:27,634
implicated in a number of issues.

1254
00:56:27,967 --> 00:56:29,302
Brett Ratner, but

1255
00:56:30,303 --> 00:56:31,596
not Harvey Weinstein.

1256
00:56:31,596 --> 00:56:34,557
You know, I mean, very similar.

1257
00:56:34,557 --> 00:56:35,725
It was gross stuff.

1258
00:56:35,725 --> 00:56:38,728
It was gross stuff
from many sources. Right.

1259
00:56:39,312 --> 00:56:40,855
And he hadn't done that.

1260
00:56:40,855 --> 00:56:45,944
This was his first gig for real, you know,
big gig since since the MeToo movement.

1261
00:56:46,820 --> 00:56:51,449
And of course, it was hired by Amazon
to direct the Melania documentary.

1262
00:56:51,449 --> 00:56:53,076
He had never done a documentary.

1263
00:56:53,076 --> 00:56:57,747
I was going to say was my next
question was Albany's Jews?

1264
00:56:59,082 --> 00:57:00,333
Yeah, yeah.

1265
00:57:00,333 --> 00:57:01,835
You want conspiracies?

1266
00:57:01,835 --> 00:57:02,252
Give me one.

1267
00:57:02,252 --> 00:57:04,754
Let's give one to the friends
you don't need.

1268
00:57:04,754 --> 00:57:06,464
He you don't have to make them up.

1269
00:57:06,464 --> 00:57:07,048
That's the thing.

1270
00:57:07,048 --> 00:57:10,218
Like the conspiracies come in
small and large versions. We

1271
00:57:11,261 --> 00:57:14,264
in a show last two weeks ago,

1272
00:57:14,597 --> 00:57:18,184
we were talking about,
you know, how this one company,

1273
00:57:20,270 --> 00:57:20,728
Franklin

1274
00:57:20,728 --> 00:57:24,649
Resources, which their finance company
on their board,

1275
00:57:24,983 --> 00:57:27,986
it's owned by, like, members of the

1276
00:57:27,986 --> 00:57:30,530
of a family.

1277
00:57:30,530 --> 00:57:33,074
They might have used to be
Franklin anymore, and.

1278
00:57:33,074 --> 00:57:38,913
But they have a list of skills
of every board members.

1279
00:57:39,330 --> 00:57:40,248
Now, imagine, like, you're

1280
00:57:40,248 --> 00:57:43,251
looking at, like, left handed
hitter, right handed hitter, you know?

1281
00:57:44,085 --> 00:57:45,170
Yeah. Great.

1282
00:57:45,170 --> 00:57:47,255
And, you know, infield flies, whatever.

1283
00:57:47,255 --> 00:57:49,090
Like they write that kind of stuff down.

1284
00:57:49,090 --> 00:57:52,385
Like, I have this skill in international
marketing and his skill and,

1285
00:57:52,510 --> 00:57:55,513
you know, whatever, one of the skills

1286
00:57:55,513 --> 00:57:58,516
that every board wants to talk about is I.

1287
00:57:59,434 --> 00:58:02,228
So you want to smell conspiracy?

1288
00:58:02,228 --> 00:58:04,772
We have the skills of the directors.

1289
00:58:04,772 --> 00:58:09,110
When the guy
who's like the nephew of the owner.

1290
00:58:09,110 --> 00:58:14,073
Never worked outside of finance
and he's worked at this company for 20

1291
00:58:14,073 --> 00:58:18,036
years, is the guy on
the board with the eye skill?

1292
00:58:19,746 --> 00:58:21,206
I mean

1293
00:58:21,206 --> 00:58:23,875
that's simply so they can put in a chart.

1294
00:58:23,875 --> 00:58:26,878
You know 20% of our board has air skill

1295
00:58:27,170 --> 00:58:31,257
and investors
don't get a check and conspiracies.

1296
00:58:31,341 --> 00:58:33,718
And what's it how do you have skill in AI?

1297
00:58:33,718 --> 00:58:35,512
You just type in what you want to search.

1298
00:58:35,512 --> 00:58:38,306
Like what are we doing here? Gemini?

1299
00:58:38,306 --> 00:58:40,016
Something.

1300
00:58:40,016 --> 00:58:42,852
And then you have the skill.
That's the thing. There's no rules.

1301
00:58:42,852 --> 00:58:45,355
You know, rules like skill.

1302
00:58:45,355 --> 00:58:47,482
Punctual, good at Microsoft Word.

1303
00:58:47,482 --> 00:58:50,485
I that's the thing. Like the funny.

1304
00:58:50,568 --> 00:58:53,571
The funny thing about it to me is

1305
00:58:53,905 --> 00:58:58,952
we focus a lot on Melania's documents,
which is pure graft,

1306
00:58:59,744 --> 00:59:03,456
and make it like bribery effectively.

1307
00:59:04,374 --> 00:59:07,210
But we don't focus on
the small little like, like

1308
00:59:07,210 --> 00:59:11,339
the little white
conspiracies or the boards,

1309
00:59:12,340 --> 00:59:14,884
like even just for fun little tiny things

1310
00:59:14,884 --> 00:59:17,971
that just don't quite add up, like,
you know, like

1311
00:59:19,597 --> 00:59:21,307
people know that, you know,

1312
00:59:21,307 --> 00:59:24,310
like when you go, you buy a pound of pasta

1313
00:59:24,936 --> 00:59:27,021
off the boxes, you know, one word

1314
00:59:27,021 --> 00:59:30,316
that they're like 12oz and you know that.

1315
00:59:30,316 --> 00:59:32,652
But those are the small conspiracies,
right?

1316
00:59:32,652 --> 00:59:35,488
Like, make it look
the same. Make the box.

1317
00:59:35,488 --> 00:59:36,614
The same size.

1318
00:59:36,614 --> 00:59:39,826
Just change the weight number
at the bottom on a board.

1319
00:59:40,201 --> 00:59:42,036
Yeah. I've been on a board for 20 years.

1320
00:59:42,036 --> 00:59:43,621
I've never done anything except finance.

1321
00:59:43,621 --> 00:59:49,085
But we need I skill just waiting there
somewhere I can we can fudge that.

1322
00:59:49,085 --> 00:59:51,379
Right. Like the little sponges.

1323
00:59:51,379 --> 00:59:53,756
When you add all those up

1324
00:59:53,756 --> 00:59:56,759
oftentimes are worse
than any Melania documentary.

1325
00:59:56,884 --> 00:59:57,719
Oh boy.

1326
00:59:57,719 --> 00:59:58,136
All right.

1327
00:59:58,136 --> 01:00:00,430
We'll look into that. That was awesome.

1328
01:00:00,430 --> 01:00:01,639
Getting a lot I'm learning a lot.

1329
01:00:01,639 --> 01:00:03,391
This is great. Great podcast.

1330
01:00:03,391 --> 01:00:05,018
We're here Matt McCarty.

1331
01:00:05,018 --> 01:00:06,644
You got some upcoming events.

1332
01:00:06,644 --> 01:00:10,773
I'm going to be at a couple of conferences
that if you are a governance person,

1333
01:00:10,773 --> 01:00:11,774
you would know what they are.

1334
01:00:11,774 --> 01:00:16,195
But but otherwise
just doing shows, pumping out data.

1335
01:00:16,195 --> 01:00:16,738
We're in a

1336
01:00:17,822 --> 01:00:19,324
of data crunch right now.

1337
01:00:19,324 --> 01:00:21,200
But it's it's high season for us.

1338
01:00:21,200 --> 01:00:24,871
So crunching the numbers, do you guys want
to sponsor our parade t shirt.

1339
01:00:24,871 --> 01:00:27,665
You want to get your logo
on the back of our parade t shirt.

1340
01:00:27,665 --> 01:00:30,460
How much is sponsorship? 150 bucks.

1341
01:00:30,460 --> 01:00:31,961
Our sponsor. That. Let's go.

1342
01:00:31,961 --> 01:00:32,337
All right.

1343
01:00:32,337 --> 01:00:33,129
Cool, cool.

1344
01:00:33,129 --> 01:00:36,382
We got some upcoming events where this is.

1345
01:00:36,633 --> 01:00:37,717
This is a Lions Club.

1346
01:00:37,717 --> 01:00:41,554
But I was the ambassador of vision,
so I'm very proud and love these guys.

1347
01:00:42,055 --> 01:00:44,474
April 25th.

1348
01:00:44,474 --> 01:00:45,683
Great pancakes.

1349
01:00:45,683 --> 01:00:48,478
Jerry and Barry make the best pancakes.

1350
01:00:48,478 --> 01:00:51,272
So it's at 8 to 12, right down the street
from your house, right

1351
01:00:51,272 --> 01:00:54,275
by the stop and shop.

1352
01:00:55,109 --> 01:00:55,985
Check it out.

1353
01:00:55,985 --> 01:00:57,403
April 25th.

1354
01:00:57,403 --> 01:00:58,613
Do you golf?

1355
01:00:58,613 --> 01:01:01,282
September 12th.

1356
01:01:01,282 --> 01:01:02,617
Come hack it up, foursome.

1357
01:01:02,617 --> 01:01:05,203
Come on. It's fun. Let's say.

1358
01:01:05,203 --> 01:01:08,206
Let's say that I have golfed.

1359
01:01:08,247 --> 01:01:09,415
You're in. He's in

1360
01:01:10,750 --> 01:01:11,668
July 11th.

1361
01:01:11,668 --> 01:01:14,545
Hartford Athletic

1362
01:01:14,545 --> 01:01:15,672
Giannis jog.

1363
01:01:15,672 --> 01:01:18,675
March 22nd. Our golf event.

1364
01:01:18,925 --> 01:01:21,928
Oh we're doing a great or is yet or watch

1365
01:01:22,011 --> 01:01:25,014
or is very

1366
01:01:25,056 --> 01:01:28,101
oh resource Swedish company.

1367
01:01:28,726 --> 01:01:31,854
They're like a $3,000 watch down at luxe
bond and green. Yeah

1368
01:01:32,939 --> 01:01:36,025
$25 a ticket to get into the raffle.

1369
01:01:36,109 --> 01:01:37,944
That's something you could,
you'd be interested in.

1370
01:01:37,944 --> 01:01:40,321
Now gotta watch. Okay. Yeah.

1371
01:01:40,321 --> 01:01:41,864
Tulsa time.

1372
01:01:41,864 --> 01:01:42,657
All right. Gotcha.

1373
01:01:42,657 --> 01:01:44,450
We wanted to film.

1374
01:01:44,450 --> 01:01:45,827
That's going to be on June 18th.

1375
01:01:45,827 --> 01:01:47,161
We're doing a whole event down there.

1376
01:01:47,161 --> 01:01:49,330
Come by.

1377
01:01:49,330 --> 01:01:49,997
Cool stuff.

1378
01:01:49,997 --> 01:01:51,791
So you're going to sponsor?

1379
01:01:51,791 --> 01:01:52,375
Yeah, it's.

1380
01:01:52,375 --> 01:01:53,251
It's pretty cold out.

1381
01:01:53,251 --> 01:01:56,254
Do you want to buy a winter hat?

1382
01:01:56,337 --> 01:01:57,046
20 bucks.

1383
01:01:57,046 --> 01:01:58,506
Think about that.

1384
01:01:58,506 --> 01:01:59,424
I'm through for three.

1385
01:01:59,424 --> 01:02:02,427
Ask it on the podcast for you to

1386
01:02:03,094 --> 01:02:05,513
cool shit out the side like you want to.

1387
01:02:05,513 --> 01:02:06,305
I got to be,

1388
01:02:07,557 --> 01:02:08,307
They call me Feeney.

1389
01:02:08,307 --> 01:02:11,310
Gets whatever you need. Feeney gets

1390
01:02:11,519 --> 01:02:12,103
when a thing.

1391
01:02:12,103 --> 01:02:13,146
People's bank.

1392
01:02:13,146 --> 01:02:17,817
I want to thank,
Saint Tim's and Saint Thomas.

1393
01:02:18,192 --> 01:02:19,110
They made a donation.

1394
01:02:19,110 --> 01:02:21,821
People's bank made a donation.

1395
01:02:21,821 --> 01:02:23,239
We usually shoot for an hour.

1396
01:02:23,239 --> 01:02:25,158
We did.
Or we usually shoot for 50 minutes.

1397
01:02:25,158 --> 01:02:26,576
With Feeney, we're over an hour.

1398
01:02:26,576 --> 01:02:28,077
We got into conspiracies.

1399
01:02:28,077 --> 01:02:31,497
We talked some, you can go down.

1400
01:02:31,622 --> 01:02:32,790
Coming down to 20 minutes.

1401
01:02:32,790 --> 01:02:35,793
ESG, I love it.

1402
01:02:35,918 --> 01:02:38,337
No, it it's great talking with you.

1403
01:02:38,337 --> 01:02:41,340
Check it out. Business pants free float.

1404
01:02:41,507 --> 01:02:44,051
Any closing remarks?

1405
01:02:44,051 --> 01:02:46,512
Just good luck.

1406
01:02:46,512 --> 01:02:49,515
And stay frosty out there

1407
01:02:49,515 --> 01:02:51,434
on three will say, be a good friend. You.

1408
01:02:51,434 --> 01:02:52,852
You'll come say what? Up to the camera.

1409
01:02:52,852 --> 01:02:55,354
This is my guy right
here. Aiden Fox in the building.

1410
01:02:56,731 --> 01:02:57,023
What's up?

1411
01:02:57,023 --> 01:02:58,483
Watching pace.

1412
01:02:58,483 --> 01:03:01,819
Pace Riley Fox, episode 93.

1413
01:03:02,278 --> 01:03:04,447
Just watch what up. Riley Fox.

1414
01:03:04,447 --> 01:03:06,991
How's the foot? I'm doing better walking.

1415
01:03:06,991 --> 01:03:09,452
Great to see you
when you come in on the part.

1416
01:03:09,452 --> 01:03:11,788
He's Aiden Fox, coming soon.

1417
01:03:11,788 --> 01:03:13,956
Thank you. See you.

1418
01:03:13,956 --> 01:03:18,085
Will say, be a good friend
on three, one, two, three.

1419
01:03:18,127 --> 01:03:19,253
Be a good friend.