1 00:00:00,000 --> 00:00:00,880 Speaker 1: Michael and Dragon. 2 00:00:01,200 --> 00:00:04,520 Speaker 2: Well, you certainly don't hear of anybody throwing a Jimmy 3 00:00:04,600 --> 00:00:08,159 Speaker 2: John sandwich too delicious. You don't hear anybody throwing a 4 00:00:08,240 --> 00:00:12,160 Speaker 2: quiz No, sub too damn expensive. Something to be said 5 00:00:12,200 --> 00:00:14,720 Speaker 2: for subway there, Michael. 6 00:00:14,400 --> 00:00:18,520 Speaker 1: As your biggest Florida goober, I wear that g on 7 00:00:18,640 --> 00:00:24,279 Speaker 1: my back, no problem. Sometimes it gets hidden by my cape, though, And. 8 00:00:24,320 --> 00:00:25,680 Speaker 3: As long as you have your cape so you can 9 00:00:25,680 --> 00:00:29,600 Speaker 3: fly around, that's that's all we need, sweetheart. That for goober. 10 00:00:30,600 --> 00:00:35,640 Speaker 3: So I have a question, and I again i've this 11 00:00:35,680 --> 00:00:40,640 Speaker 3: has been in my pos. No, it's not what you think. 12 00:00:40,800 --> 00:00:43,960 Speaker 3: It's a pile of stuff. My pile of stuff for back, 13 00:00:44,320 --> 00:00:47,680 Speaker 3: I'd say five six days now, and I'm finally ready to, 14 00:00:47,760 --> 00:00:52,000 Speaker 3: I think, dive into it. And it kind of reached 15 00:00:52,040 --> 00:00:56,360 Speaker 3: its nadier last night when I went with his friend 16 00:00:56,400 --> 00:01:01,200 Speaker 3: to the Columbine Steakhouse up on Federal and I'd always 17 00:01:01,200 --> 00:01:03,520 Speaker 3: heard about it, and all you know, it's like it's 18 00:01:03,560 --> 00:01:06,520 Speaker 3: like an iconic place in Denver. It's got to be 19 00:01:06,520 --> 00:01:09,199 Speaker 3: one hundred years old, and it looks like it's hundred 20 00:01:09,280 --> 00:01:12,120 Speaker 3: years old, and it's it's really strange. But you go 21 00:01:12,200 --> 00:01:14,320 Speaker 3: in and the very first thing I noticed, Drey, you 22 00:01:14,400 --> 00:01:17,800 Speaker 3: love this. So the menus are a blue sheet of 23 00:01:17,800 --> 00:01:22,000 Speaker 3: eight and a half by eleven paper laminated. Okay, it was laminated, 24 00:01:22,360 --> 00:01:28,360 Speaker 3: and the prices have changed, so they've scratched out with 25 00:01:28,400 --> 00:01:31,520 Speaker 3: the black magic marker the price and written. 26 00:01:31,200 --> 00:01:33,480 Speaker 1: In the new price on top of the laminatee topes. 27 00:01:33,720 --> 00:01:36,200 Speaker 3: Yes, so that got me to thinking about gee, I 28 00:01:36,319 --> 00:01:38,920 Speaker 3: wonder and I should have asked that the waitress how 29 00:01:39,080 --> 00:01:42,480 Speaker 3: you know what the server was? Oh, my usual, the 30 00:01:42,520 --> 00:01:44,760 Speaker 3: word waitress. Somebody's gonna be offended by that now too. 31 00:01:45,920 --> 00:01:48,600 Speaker 3: I should have asked what were the old prices? I 32 00:01:48,640 --> 00:01:51,040 Speaker 3: can I know what the old prices were, just by comparison, 33 00:01:51,520 --> 00:01:55,480 Speaker 3: because compared to the steakhouse that that Tara and I 34 00:01:55,720 --> 00:01:59,480 Speaker 3: and my friends took me to on Saturday for my birthday, 35 00:02:00,120 --> 00:02:03,680 Speaker 3: let's just say that one was magnetude orders of magnitude 36 00:02:03,680 --> 00:02:08,120 Speaker 3: more expensive than the Columbine steakhouse was. So the two 37 00:02:08,520 --> 00:02:12,400 Speaker 3: two of us ate pretty cheaply last night, but it 38 00:02:12,440 --> 00:02:14,320 Speaker 3: was still more expensive than And I don't know when 39 00:02:14,320 --> 00:02:16,840 Speaker 3: they changed the prices than the original price when they first. 40 00:02:16,720 --> 00:02:17,800 Speaker 1: Laminated of those menus. 41 00:02:19,639 --> 00:02:22,320 Speaker 3: So my question to you is are things really more 42 00:02:22,360 --> 00:02:26,040 Speaker 3: expensive or not? Or is it just that perception is 43 00:02:26,120 --> 00:02:29,280 Speaker 3: reality and you perceive things to be more expensive when 44 00:02:29,280 --> 00:02:33,960 Speaker 3: they're really not. Because the new buzzword, what is it, 45 00:02:34,840 --> 00:02:41,679 Speaker 3: that's right, affordability. Everybody's talking about affordability now. Well, door dash, Yes, 46 00:02:41,840 --> 00:02:44,760 Speaker 3: door dash. I've never used door dash for my entire life, 47 00:02:44,880 --> 00:02:48,720 Speaker 3: but apparently DoorDash has done their first ever state of 48 00:02:48,840 --> 00:02:54,440 Speaker 3: Local Commerce report, and that report, when you dig into it, 49 00:02:54,440 --> 00:03:00,480 Speaker 3: finds that prices on everyday essentials have either stabilized, which 50 00:03:00,520 --> 00:03:04,920 Speaker 3: means they've leveled off or they're actually falling. And the 51 00:03:05,000 --> 00:03:08,880 Speaker 3: local restaurants remain resilient, which means there are prices that 52 00:03:08,960 --> 00:03:11,919 Speaker 3: got checked up during COVID are still there, but their 53 00:03:12,000 --> 00:03:15,800 Speaker 3: business has you know, maybe the customers customers, uh, the 54 00:03:15,880 --> 00:03:18,720 Speaker 3: number of customers has dropped off a little bit, but 55 00:03:18,800 --> 00:03:21,160 Speaker 3: they're still able to maintain their profit margins and they're 56 00:03:21,160 --> 00:03:23,160 Speaker 3: still able to keep the door open. That's the way 57 00:03:23,240 --> 00:03:27,320 Speaker 3: I would interpret door dash saying that restaurants remain resilient. 58 00:03:28,200 --> 00:03:30,920 Speaker 3: And I found this one interesting buried in the report 59 00:03:31,040 --> 00:03:32,359 Speaker 3: is that week day. 60 00:03:32,320 --> 00:03:36,680 Speaker 1: Downtown lunch demand is rebounding. 61 00:03:36,920 --> 00:03:41,040 Speaker 3: In more than half of US city's So this report 62 00:03:41,120 --> 00:03:45,120 Speaker 3: kind of gives us a street level view that nuances 63 00:03:45,160 --> 00:03:48,360 Speaker 3: beyond these broad national indicators that we keep getting getting 64 00:03:48,400 --> 00:03:50,760 Speaker 3: on all the cable channels and from the cabal. 65 00:03:51,440 --> 00:03:53,600 Speaker 1: How do they do this? What's their methodology? 66 00:03:54,600 --> 00:03:57,560 Speaker 3: Well, it's built on hundreds of millions of transactions across 67 00:03:57,640 --> 00:04:03,360 Speaker 3: grocery stores, restaurants, and main street retail this year. It 68 00:04:03,520 --> 00:04:06,880 Speaker 3: highlights this is what they This is kind of the 69 00:04:07,560 --> 00:04:13,120 Speaker 3: TLDR of the report. It highlights a fourteen percent drop 70 00:04:13,720 --> 00:04:19,359 Speaker 3: in breakfast basic price baskets between March and September, a 71 00:04:19,560 --> 00:04:23,760 Speaker 3: ninety three percent year over year survival rate for restaurants, 72 00:04:24,960 --> 00:04:27,839 Speaker 3: and a twenty I'm sorry, a two point five percent 73 00:04:28,720 --> 00:04:34,040 Speaker 3: national rise in business district weekday lunch orders, with outsize 74 00:04:34,120 --> 00:04:40,280 Speaker 3: rebounds in places like San Francisco and Chandler, Arizona. 75 00:04:40,680 --> 00:04:41,680 Speaker 1: So what does this report? 76 00:04:42,839 --> 00:04:47,360 Speaker 3: It's what they did is they compiled They compiled transaction 77 00:04:47,560 --> 00:04:52,320 Speaker 3: derived indicators from literally hundreds of millions of orders so 78 00:04:52,440 --> 00:04:55,600 Speaker 3: they could figure out what the localized economic conditions are 79 00:04:55,640 --> 00:05:00,200 Speaker 3: across thousands of neighborhoods. They were aiming to complement the 80 00:05:00,279 --> 00:05:06,120 Speaker 3: lagging sample based national stats with real time microeconomic signals 81 00:05:06,160 --> 00:05:10,800 Speaker 3: from on platform purchasing behavior. So now that they and 82 00:05:11,480 --> 00:05:13,200 Speaker 3: Obviously I didn't know this, but this is what the 83 00:05:13,240 --> 00:05:16,000 Speaker 3: report tells me. That door dash has now expanded in 84 00:05:16,200 --> 00:05:20,640 Speaker 3: new verticals such as grocery and retail, and that data, 85 00:05:20,760 --> 00:05:25,360 Speaker 3: that data increasingly spans beyond restaurants. So it gives door 86 00:05:25,440 --> 00:05:29,520 Speaker 3: dash a broader lens on local commerce patterns in all 87 00:05:29,600 --> 00:05:33,360 Speaker 3: the essentials that we buy, prepared food and household goods. 88 00:05:33,440 --> 00:05:37,360 Speaker 3: Those three categories, the essentials, prepared food and household goods. 89 00:05:37,920 --> 00:05:40,880 Speaker 3: So what are some of the key price indicators? Does 90 00:05:40,920 --> 00:05:44,920 Speaker 3: this align with what you see? Because I can tell 91 00:05:44,920 --> 00:05:48,640 Speaker 3: you that in our household, it just seems that the 92 00:05:48,720 --> 00:05:52,919 Speaker 3: grocery bill hasn't gone down. The eating out bill, I 93 00:05:52,920 --> 00:05:57,280 Speaker 3: wouldn't say has gone up. I'd say it's stabilized now 94 00:05:57,320 --> 00:06:00,679 Speaker 3: from COVID from the shutdown, that's now. I ever forget 95 00:06:00,720 --> 00:06:03,680 Speaker 3: that from the shutdown, when a lot of restaurants went 96 00:06:03,720 --> 00:06:07,799 Speaker 3: out of business and they were faced with increasing costs 97 00:06:07,800 --> 00:06:10,040 Speaker 3: of you know, everybody had to take your stuff out. 98 00:06:10,080 --> 00:06:12,520 Speaker 3: Always fascinate the immediate, Oh we can cook your food, 99 00:06:12,560 --> 00:06:13,960 Speaker 3: but you can't eat it here. You got to take 100 00:06:13,960 --> 00:06:15,960 Speaker 3: it home. I mean, the dumb assy that we put 101 00:06:16,040 --> 00:06:20,480 Speaker 3: up with was absolutely insanity. But I noticed that our 102 00:06:20,839 --> 00:06:25,520 Speaker 3: eating out prices have generally leveled off, but they've leveled 103 00:06:25,560 --> 00:06:28,680 Speaker 3: off at a new baseline. So the you know, the 104 00:06:28,760 --> 00:06:31,200 Speaker 3: Chinese food, you know you might go for two people 105 00:06:31,360 --> 00:06:33,320 Speaker 3: and the Chinese food might cost you twenty five bucks, 106 00:06:33,400 --> 00:06:35,640 Speaker 3: now cost you thirty five or forty bucks, and it's 107 00:06:35,720 --> 00:06:37,760 Speaker 3: leveled out at that price. I don't see any drop 108 00:06:37,800 --> 00:06:42,719 Speaker 3: in it. Prices for everyday essentials like toilet paper, diapers. 109 00:06:43,520 --> 00:06:46,200 Speaker 3: Dorda says that was flat over the same time frame. 110 00:06:46,920 --> 00:06:48,839 Speaker 3: Now I would imply from that that there's some sort 111 00:06:48,839 --> 00:06:53,400 Speaker 3: of stabilization going on in household goods after all of 112 00:06:53,440 --> 00:06:59,839 Speaker 3: those previous inflationary spikes. They have a cheeseburger index, Yes, 113 00:07:00,720 --> 00:07:08,919 Speaker 3: they've got cheeseburger index. That index highlights meaningful regional affordability dispersion. 114 00:07:10,160 --> 00:07:12,680 Speaker 3: That means they went to all sorts of different places. 115 00:07:12,760 --> 00:07:17,120 Speaker 3: They everywhere from like Lincoln, Nebraska to Milwaukee to Detroit. 116 00:07:17,880 --> 00:07:22,679 Speaker 3: So it's offering significantly lower typical prices versus the high 117 00:07:22,680 --> 00:07:26,160 Speaker 3: cost markets, which I would throw the front range in. 118 00:07:26,320 --> 00:07:30,120 Speaker 3: I think we are a high cost market, effectively doubling 119 00:07:30,280 --> 00:07:35,880 Speaker 3: purchasing power for comparable items in those locations, which is 120 00:07:35,920 --> 00:07:38,040 Speaker 3: a good point here to put a little asterisks in 121 00:07:38,240 --> 00:07:43,120 Speaker 3: and think, yeah, this might be true in Chandler, Arizona. 122 00:07:43,400 --> 00:07:46,600 Speaker 3: It might be true even in San Francisco. It might 123 00:07:46,640 --> 00:07:50,080 Speaker 3: be true in some place in Nebraska, someplace in Wisconsin. 124 00:07:50,120 --> 00:07:52,520 Speaker 3: It might be true in some of these places like Detroit. 125 00:07:52,800 --> 00:07:57,080 Speaker 3: But is it true here? I don't think so. Now, 126 00:07:57,240 --> 00:08:02,760 Speaker 3: restaurant continuity I found pretty interesting because I find that 127 00:08:03,480 --> 00:08:06,040 Speaker 3: as I travel around Denver and go to business lunches 128 00:08:06,080 --> 00:08:08,720 Speaker 3: and things, that I see more and more restaurants being 129 00:08:08,800 --> 00:08:13,440 Speaker 3: closed down. When you read Westward, you know, when you 130 00:08:13,480 --> 00:08:19,480 Speaker 3: read when you read it either weekly or maybe daily, 131 00:08:19,560 --> 00:08:23,360 Speaker 3: I forget, but they'll have a list of recent restaurant closings, 132 00:08:24,280 --> 00:08:27,560 Speaker 3: and it seems to be a staple of the newspaper. 133 00:08:28,520 --> 00:08:31,720 Speaker 3: So whatever Patty Calhoun does to send people out, they 134 00:08:31,800 --> 00:08:33,800 Speaker 3: get list of all the restaurants closing. And every week 135 00:08:33,800 --> 00:08:35,719 Speaker 3: they've got plenty of people to list that all these 136 00:08:35,760 --> 00:08:39,240 Speaker 3: restaurants have closed. But according to door dash, ninety three 137 00:08:39,320 --> 00:08:42,040 Speaker 3: percent of restaurants that are active on door Dash. There's 138 00:08:42,080 --> 00:08:46,280 Speaker 3: that there's that parameter. In September of twenty twenty four, 139 00:08:46,960 --> 00:08:50,880 Speaker 3: we're still open in this past September. September of twenty 140 00:08:50,920 --> 00:08:55,640 Speaker 3: twenty five. Now, the reason I point that out is 141 00:08:55,679 --> 00:08:58,400 Speaker 3: because all the other stories that I read indicate that 142 00:08:58,400 --> 00:09:03,400 Speaker 3: that's contrary to the expects of these widespread closures in 143 00:09:03,480 --> 00:09:07,600 Speaker 3: high cost environments, which I think, once again we have 144 00:09:07,640 --> 00:09:10,000 Speaker 3: to take Denver put it out here on its own, 145 00:09:10,360 --> 00:09:13,200 Speaker 3: because I think Denver is one of those high cost environments. 146 00:09:13,720 --> 00:09:16,959 Speaker 3: And I'm eventually going to get to another story, not today, 147 00:09:17,000 --> 00:09:19,640 Speaker 3: but eventually about why is it that Denver is such 148 00:09:19,640 --> 00:09:22,800 Speaker 3: a high cost area. Well, I think, in a nutshell, 149 00:09:23,120 --> 00:09:28,000 Speaker 3: not going into the details, it is regulations, all the 150 00:09:28,080 --> 00:09:31,760 Speaker 3: environmental bull crap that they're shoving down our throat, prices 151 00:09:31,800 --> 00:09:35,280 Speaker 3: in general, and just the influx of let's say, twenty 152 00:09:35,280 --> 00:09:38,800 Speaker 3: five to thirty five year olds who have disposable income 153 00:09:39,200 --> 00:09:41,240 Speaker 3: that are willing to spend it on. You know, I 154 00:09:41,360 --> 00:09:44,800 Speaker 3: jokingly mentioned something about a six shot latte. Have no 155 00:09:44,880 --> 00:09:47,480 Speaker 3: idea of a six shot latte costs, but I bet 156 00:09:47,960 --> 00:09:50,520 Speaker 3: it's more than five dollars. I bet it's not quite 157 00:09:50,559 --> 00:09:52,400 Speaker 3: ten dollars, but it could be. I'm just not a 158 00:09:52,400 --> 00:09:54,400 Speaker 3: coffee drinker, so I don't know, but they're willing to 159 00:09:54,400 --> 00:09:57,720 Speaker 3: pay that. Old boomers are probably not. Just give me 160 00:09:57,760 --> 00:10:01,719 Speaker 3: some black coffee. That's all I want. New restaurant on 161 00:10:02,000 --> 00:10:08,000 Speaker 3: boarding in other words, opening bringing new employees in accelerated 162 00:10:08,040 --> 00:10:12,000 Speaker 3: more than eighteen percent year over year. And again it's 163 00:10:12,040 --> 00:10:14,760 Speaker 3: in places where you would least expect it. They in 164 00:10:14,800 --> 00:10:18,839 Speaker 3: particular pointed out the Raido Texas, Milwaukee, Wisconsin, Saint Paul, Minnesota, 165 00:10:19,880 --> 00:10:26,640 Speaker 3: and their argument is that indicates continued entrepreneurship and platform 166 00:10:26,679 --> 00:10:29,080 Speaker 3: adoption in secondary metros. 167 00:10:30,559 --> 00:10:32,640 Speaker 1: So if you live in New York, you live in. 168 00:10:32,679 --> 00:10:35,800 Speaker 3: La or San Francisco, you live in Harris County, Houston, Texas, 169 00:10:36,280 --> 00:10:39,240 Speaker 3: then maybe it's not so much. And then I hear 170 00:10:39,280 --> 00:10:41,559 Speaker 3: all the horror stories about Las Vegas, about how Las 171 00:10:41,679 --> 00:10:43,920 Speaker 3: Vegas is. You know, the big mantra about Las Vegas 172 00:10:43,960 --> 00:10:46,360 Speaker 3: right now is they're nickel and diming everybody to death. 173 00:10:47,040 --> 00:10:48,880 Speaker 3: He said, if you know a free cocktail where you're 174 00:10:49,280 --> 00:10:51,599 Speaker 3: in you know, poker, or you're you know, pulling the 175 00:10:51,600 --> 00:10:54,440 Speaker 3: one armed Bandits or whatever, Now you're paying for those drinks. 176 00:10:54,720 --> 00:10:56,920 Speaker 3: They're nickel, and they're charging you for everything. They're charging 177 00:10:57,040 --> 00:10:58,559 Speaker 3: for parking. Oh, you want to go swim in the 178 00:10:58,600 --> 00:11:00,760 Speaker 3: pool we have already built here. Yeah, we're gona charge 179 00:11:00,760 --> 00:11:04,280 Speaker 3: you for that too. So the consumer sentiment, which is 180 00:11:04,280 --> 00:11:08,200 Speaker 3: the most important thing to me, mirrors that resilience because 181 00:11:08,240 --> 00:11:10,880 Speaker 3: seventy two percent of there of their customers they talk 182 00:11:11,000 --> 00:11:14,880 Speaker 3: to reported they see the same or more shops opening 183 00:11:14,920 --> 00:11:19,760 Speaker 3: relative to last year. Now that's obviously a churn, but 184 00:11:19,840 --> 00:11:23,840 Speaker 3: that churn means that it's being offset by new people 185 00:11:24,080 --> 00:11:30,360 Speaker 3: entering the market or established places starting to expand. But 186 00:11:30,520 --> 00:11:31,200 Speaker 3: is it true here? 187 00:11:31,800 --> 00:11:32,600 Speaker 1: I don't know yet. 188 00:11:32,679 --> 00:11:36,360 Speaker 3: I'm just giving you this broad overall picture because the perception, 189 00:11:36,840 --> 00:11:40,840 Speaker 3: I sincerely believe that the perception is being driven by 190 00:11:40,880 --> 00:11:44,680 Speaker 3: the narrative on the cabal. The cabal is trying to 191 00:11:44,720 --> 00:11:49,760 Speaker 3: convince us that prices having come down, that inflation remains high. 192 00:11:49,880 --> 00:11:50,200 Speaker 1: It's not. 193 00:11:50,400 --> 00:11:52,800 Speaker 3: It's you know, between two and three percent, which is 194 00:11:53,080 --> 00:11:57,520 Speaker 3: pretty normal for any booming economy, any growing economy. But 195 00:11:57,679 --> 00:12:00,200 Speaker 3: we're pounded and pounded and pounded about the EU shoe 196 00:12:00,240 --> 00:12:04,360 Speaker 3: of affordability, and with gas prices coming down, of course 197 00:12:04,400 --> 00:12:06,640 Speaker 3: that's not going to change overnight. But when you think 198 00:12:06,640 --> 00:12:10,520 Speaker 3: about if you're driving an eighteen wheeler and you're paying 199 00:12:10,920 --> 00:12:13,959 Speaker 3: X dollars a gallon for diesel, or you're commuting to 200 00:12:14,040 --> 00:12:17,240 Speaker 3: work and you're paint, whether you're buying regular unleaded or 201 00:12:17,280 --> 00:12:20,880 Speaker 3: premium unleaded, and that's dropped by seventy five cents, just 202 00:12:20,960 --> 00:12:21,760 Speaker 3: drop by a dollar. 203 00:12:21,880 --> 00:12:24,640 Speaker 1: Whatever it is. That starts to ripple through the. 204 00:12:24,600 --> 00:12:32,440 Speaker 3: Economy because virtually everything that we do relies on energy. 205 00:12:32,559 --> 00:12:33,560 Speaker 1: I had to I had to. 206 00:12:33,559 --> 00:12:35,640 Speaker 3: Fill my car up last night, didn't have enough gas 207 00:12:35,640 --> 00:12:41,280 Speaker 3: to get home. Well, obviously that affects my income because okay, 208 00:12:41,280 --> 00:12:43,240 Speaker 3: I gotta fill the car. I gotta fill the car 209 00:12:43,320 --> 00:12:45,120 Speaker 3: up all the time anyway, because I'll drive him to work. 210 00:12:46,640 --> 00:12:49,640 Speaker 3: But for the people that live paycheck to paycheck, for 211 00:12:49,760 --> 00:12:52,600 Speaker 3: people who really you know, if I watched people do this, 212 00:12:52,640 --> 00:12:54,839 Speaker 3: maybe you've done it. I'm only going to put ten 213 00:12:54,880 --> 00:13:00,679 Speaker 3: dollars in. Well, all that's doing is that's postponing the pain. Eventually, 214 00:13:00,920 --> 00:13:03,000 Speaker 3: that ten dollars worth of gas, being with the price 215 00:13:03,000 --> 00:13:04,760 Speaker 3: of gases might be a couple of gallons. If you 216 00:13:04,800 --> 00:13:07,599 Speaker 3: live in you know, San Francisco or you live in Manhattan. 217 00:13:07,880 --> 00:13:11,120 Speaker 3: That two gallons of gas for ten bucks is I 218 00:13:11,200 --> 00:13:13,319 Speaker 3: gotta last you very long? And you're right back. They're 219 00:13:13,320 --> 00:13:16,959 Speaker 3: putting ten dollars in again. So are there any consumer 220 00:13:17,679 --> 00:13:24,720 Speaker 3: shifts in behavior? Their data indicates that households are spending smarter. 221 00:13:25,880 --> 00:13:29,120 Speaker 3: What does that mean to you? Because I thought about it, 222 00:13:29,160 --> 00:13:32,880 Speaker 3: I tried to think in my life, am I spending smarter? 223 00:13:33,800 --> 00:13:36,880 Speaker 3: I don't know that I'm spending smarter. I think I'm 224 00:13:36,960 --> 00:13:39,120 Speaker 3: just being a little and maybe this is the same thing. 225 00:13:39,760 --> 00:13:41,560 Speaker 3: But you know, maybe today I'm not gonna go out 226 00:13:41,559 --> 00:13:44,280 Speaker 3: for lunch. Maybe today instead I'll just you know, in fact, 227 00:13:44,320 --> 00:13:46,000 Speaker 3: I got a meeting to go to, but I don't 228 00:13:46,040 --> 00:13:49,280 Speaker 3: think lunch is involved. But instead maybe I'll just snack 229 00:13:49,360 --> 00:13:53,080 Speaker 3: on something, you know, diet coat and nuts and just 230 00:13:53,120 --> 00:13:56,960 Speaker 3: move on. And there are people they're taking advantage of 231 00:13:57,000 --> 00:14:02,040 Speaker 3: localized price differentials because again, categories like breakfast staples deflate 232 00:14:02,559 --> 00:14:03,960 Speaker 3: while the others stabilize. 233 00:14:04,120 --> 00:14:05,880 Speaker 1: So maybe habits begin to shift. 234 00:14:06,840 --> 00:14:11,439 Speaker 3: Platform level behaviors, I think are probably indicative of a. 235 00:14:11,280 --> 00:14:13,520 Speaker 1: Broader substitution pattern. 236 00:14:13,800 --> 00:14:18,760 Speaker 3: Which means that consumers like you are turning to value 237 00:14:18,840 --> 00:14:24,640 Speaker 3: driven options. You're taking advantage of membership savings you had 238 00:14:24,800 --> 00:14:28,760 Speaker 3: just order timing and the occasion weekday lunches versus how 239 00:14:28,760 --> 00:14:30,640 Speaker 3: many times do you go out on the weekend, do 240 00:14:30,680 --> 00:14:32,400 Speaker 3: you go out during the week, or have you stop 241 00:14:32,480 --> 00:14:38,040 Speaker 3: doing that? And as returned to office habits incrementally normalized 242 00:14:38,080 --> 00:14:40,280 Speaker 3: they're not back to normally yet, even in this building, 243 00:14:40,320 --> 00:14:43,920 Speaker 3: they don't seem to be back to normal. That people 244 00:14:44,120 --> 00:14:47,240 Speaker 3: shift where they spoke. I don't have to go to lunch. 245 00:14:48,160 --> 00:14:49,920 Speaker 3: Maybe I was too lazy to bring lunch anyway, so 246 00:14:49,920 --> 00:14:51,320 Speaker 3: every day I went out to lunch. But if I'm 247 00:14:51,320 --> 00:14:53,120 Speaker 3: not going to the office but three or four days 248 00:14:53,120 --> 00:14:56,320 Speaker 3: a week, then that fifth day that I don't go, 249 00:14:56,480 --> 00:14:59,160 Speaker 3: or the fourth and fifth day I don't go, I 250 00:14:59,200 --> 00:15:03,960 Speaker 3: don't go out to ear there for us save some money. 251 00:15:04,440 --> 00:15:08,520 Speaker 3: What are the implications and what's the context with say 252 00:15:08,560 --> 00:15:16,080 Speaker 3: door Dasher's trajectory. It complements door Dasher's broader twenty twenty 253 00:15:16,120 --> 00:15:22,360 Speaker 3: five narrative. They're experiencing accelerated growth. They see an expansion 254 00:15:22,400 --> 00:15:25,840 Speaker 3: of their grocery partnerships with Kroger and others that are 255 00:15:25,840 --> 00:15:29,360 Speaker 3: out to like two thousand almost three thousand stores, and 256 00:15:29,400 --> 00:15:32,280 Speaker 3: of course they're expanding into new verticals that expand the 257 00:15:32,360 --> 00:15:36,520 Speaker 3: data set that underpins their local commerce insights. So it's 258 00:15:36,600 --> 00:15:40,840 Speaker 3: just it's just one company, but it shows us that perhaps, 259 00:15:40,920 --> 00:15:47,000 Speaker 3: just perhaps that the affordability crisis is not as bad 260 00:15:47,040 --> 00:15:51,760 Speaker 3: as we think, but maybe only in some areas, because 261 00:15:51,840 --> 00:15:52,520 Speaker 3: in all the. 262 00:15:52,920 --> 00:15:55,040 Speaker 1: How many times. How many times you think I found 263 00:15:55,080 --> 00:15:56,680 Speaker 1: Colorado on the story. 264 00:15:56,840 --> 00:15:58,520 Speaker 3: How many times as I dug through the report and 265 00:15:58,520 --> 00:16:00,280 Speaker 3: did a word source, do you think I found ver 266 00:16:01,040 --> 00:16:03,400 Speaker 3: or any of the suburbs or Colorado Springs, Orfot, Collins 267 00:16:03,400 --> 00:16:03,880 Speaker 3: are Boulder. 268 00:16:04,040 --> 00:16:04,320 Speaker 1: None. 269 00:16:04,360 --> 00:16:06,440 Speaker 3: I didn't find it at all. Those sayings not there, 270 00:16:06,480 --> 00:16:09,360 Speaker 3: I just didn't find it. So I think we're still 271 00:16:09,400 --> 00:16:11,840 Speaker 3: one of those high cost cities, and so I think 272 00:16:11,880 --> 00:16:16,440 Speaker 3: we're an outlier, which obviously would lead to a pretty 273 00:16:16,440 --> 00:16:20,440 Speaker 3: intense political discussion about why are we an outlier? What 274 00:16:20,560 --> 00:16:23,640 Speaker 3: are all the factors that make us an outlier? So 275 00:16:23,800 --> 00:16:28,680 Speaker 3: this state of local Commerce study, the door dash is done, 276 00:16:29,440 --> 00:16:35,480 Speaker 3: kind of gives us a granular, real time lens on 277 00:16:35,840 --> 00:16:38,960 Speaker 3: local economic dynamics. But just in those cities where they're 278 00:16:38,960 --> 00:16:42,680 Speaker 3: operating that are not high cost cities that we have 279 00:16:42,840 --> 00:16:48,840 Speaker 3: easing prices on key staples, we got resilient restaurant ecosystems, 280 00:16:49,600 --> 00:16:51,760 Speaker 3: and we have a cautious but what I would describe 281 00:16:51,760 --> 00:16:56,240 Speaker 3: as a broad based downtown lunch recovery. Yeah, why do 282 00:16:56,320 --> 00:16:58,640 Speaker 3: I think the downtown lunch recovery is important? 283 00:16:59,000 --> 00:16:59,200 Speaker 1: One? 284 00:16:59,200 --> 00:17:02,040 Speaker 3: That means people are going back to offices, That means 285 00:17:02,040 --> 00:17:04,520 Speaker 3: that people are actually on their lunch time, going out 286 00:17:04,560 --> 00:17:07,200 Speaker 3: and spending money on lunch as opposed to brown bagging it. 287 00:17:07,880 --> 00:17:13,639 Speaker 3: So all that indicates increased economic activity. So increased economic 288 00:17:13,840 --> 00:17:18,680 Speaker 3: activity translates into a higher gross domestic product, which means 289 00:17:18,680 --> 00:17:21,640 Speaker 3: that as a consumer economy, we're doing more and more consuming, 290 00:17:22,000 --> 00:17:25,280 Speaker 3: which means that the economy must be growing. Why is 291 00:17:25,320 --> 00:17:28,040 Speaker 3: it that we don't feel that way? Why is it 292 00:17:28,080 --> 00:17:32,520 Speaker 3: we keep getting fed just the opposite that actually over enough? 293 00:17:32,840 --> 00:17:36,480 Speaker 3: We are in an affordability crisis, are we? 294 00:17:36,840 --> 00:17:40,439 Speaker 4: Michael? I would say that my door dash would be 295 00:17:40,520 --> 00:17:44,159 Speaker 4: even cheaper if I didn't have to pay the delivery 296 00:17:44,240 --> 00:17:48,480 Speaker 4: fee that the Colorado State Pollup Bureau tacked on a 297 00:17:48,520 --> 00:17:51,320 Speaker 4: couple of years ago. I think it's like twenty nine 298 00:17:51,400 --> 00:17:56,560 Speaker 4: cents per delivery. So anyway, affordability is something that I 299 00:17:56,560 --> 00:17:59,600 Speaker 4: don't necessarily want to say good job, because then they'll 300 00:17:59,640 --> 00:18:01,000 Speaker 4: just tack to make it higher. 301 00:18:01,359 --> 00:18:04,080 Speaker 1: Hey, you know that you're on K zero way? Are 302 00:18:04,119 --> 00:18:05,680 Speaker 1: you drinking coke zero? Now? 303 00:18:06,840 --> 00:18:10,080 Speaker 3: No, it's just still the same old McDonald's diet coke. 304 00:18:11,640 --> 00:18:14,280 Speaker 1: Same guy was in the window today. Oh hi Michael, 305 00:18:15,000 --> 00:18:17,840 Speaker 1: Hey yeah yeah, actually said hi Michael, yeah. 306 00:18:17,440 --> 00:18:20,840 Speaker 3: Wow, which kind of gave me the creeps because that 307 00:18:20,920 --> 00:18:25,480 Speaker 3: means that money either because this was at the where 308 00:18:25,480 --> 00:18:29,240 Speaker 3: you order, the ordering spot in the drive through, what 309 00:18:29,280 --> 00:18:30,480 Speaker 3: would you technically call that. 310 00:18:31,480 --> 00:18:34,920 Speaker 1: Just the speaker the speaker? Yeah, I mean, but I wasn't. 311 00:18:35,000 --> 00:18:38,040 Speaker 3: I guess I was at the speaker, but I was 312 00:18:38,080 --> 00:18:40,240 Speaker 3: in my car, so I'm not really standing at the 313 00:18:40,280 --> 00:18:45,000 Speaker 3: speaker anyway. He said, Oh, hi, Michael, come on around, 314 00:18:45,320 --> 00:18:45,680 Speaker 3: like you. 315 00:18:45,840 --> 00:18:46,680 Speaker 1: Gave my code. 316 00:18:46,920 --> 00:18:49,520 Speaker 2: But yeah, so you already he already knew that you 317 00:18:49,560 --> 00:18:52,320 Speaker 2: were there because you gave him whatever code it was. Yes, 318 00:18:52,400 --> 00:18:55,040 Speaker 2: that makes a little bit of sense. Yeah, yeah, he 319 00:18:55,359 --> 00:18:57,520 Speaker 2: doesn't feeme ego that he knew I was. Well, at 320 00:18:57,560 --> 00:19:00,359 Speaker 2: least he's easier to train than the early morning girl 321 00:19:00,400 --> 00:19:03,399 Speaker 2: at at like five am, which she had a teacher 322 00:19:03,440 --> 00:19:05,400 Speaker 2: how to say, teach how to say thank you? 323 00:19:05,520 --> 00:19:08,000 Speaker 3: Welcome, Yeah, thank you, you're welcome, thank you, and you're welcome. 324 00:19:08,119 --> 00:19:11,520 Speaker 3: Good grief. So I imagine most of you know what 325 00:19:11,680 --> 00:19:15,399 Speaker 3: a pink slip is drag, and I know what ping 326 00:19:15,480 --> 00:19:20,520 Speaker 3: slips are. Yeah, pink slips all the time, king slips everywhere. 327 00:19:20,520 --> 00:19:23,399 Speaker 3: Do you know what a blue slip is? I'll tell 328 00:19:23,400 --> 00:19:26,400 Speaker 3: you what a blue slip Isn't a blue slip is 329 00:19:26,440 --> 00:19:27,800 Speaker 3: in just a minute. But I want I want you 330 00:19:27,840 --> 00:19:31,120 Speaker 3: to think about something about what really goes inside the beltwagh. 331 00:19:31,200 --> 00:19:32,800 Speaker 1: Right. Now, Trump's been. 332 00:19:32,720 --> 00:19:37,080 Speaker 3: In office since well it's well not in office, but 333 00:19:37,359 --> 00:19:40,960 Speaker 3: it's been a year since he was elected and since 334 00:19:41,040 --> 00:19:44,240 Speaker 3: January twentieth. We're now in November, so it's been just 335 00:19:44,280 --> 00:19:47,679 Speaker 3: about eleven months. Sometime next week it'll be eleven months. 336 00:19:48,960 --> 00:19:52,240 Speaker 3: He still does not have all of his political appointees 337 00:19:52,280 --> 00:19:55,720 Speaker 3: confirmed by the United States Senate for those which require 338 00:19:55,720 --> 00:20:00,439 Speaker 3: a Senate confirmation. This is something that has given me 339 00:20:00,760 --> 00:20:06,200 Speaker 3: nuts for decades now. Fortunately I had two Senate confirmation hearings. 340 00:20:06,520 --> 00:20:10,080 Speaker 3: I had one for my first presidential commission and then 341 00:20:10,160 --> 00:20:13,439 Speaker 3: one several years later for the second presidential commission, you 342 00:20:13,440 --> 00:20:15,199 Speaker 3: know post nine to eleven, when they stood up that 343 00:20:15,480 --> 00:20:19,080 Speaker 3: wonderful organization called the Department of Homeland Security. But in 344 00:20:19,160 --> 00:20:24,280 Speaker 3: both cases, I fortunately had a couple of senators that 345 00:20:24,720 --> 00:20:29,600 Speaker 3: from Colorado, Wayne Allard and Ben Nighthorse Campbell, who saw 346 00:20:29,640 --> 00:20:31,720 Speaker 3: to it that we you know, wam bam, thank you man, 347 00:20:31,760 --> 00:20:37,000 Speaker 3: we got it done. But now if you don't have 348 00:20:37,600 --> 00:20:43,760 Speaker 3: your team in place, the bureaucracy runs a knock. They 349 00:20:43,800 --> 00:20:46,720 Speaker 3: do what they want to do. They're they're like a 350 00:20:47,320 --> 00:20:51,119 Speaker 3: they're just like the energizer bunny. They just keep doing 351 00:20:51,200 --> 00:20:54,720 Speaker 3: what they had been told to do prior to the election. 352 00:20:55,880 --> 00:20:59,520 Speaker 3: And even though during the transition from Biden to Trump, 353 00:21:00,240 --> 00:21:02,840 Speaker 3: I've tried to explain this before, during that transition team, 354 00:21:03,200 --> 00:21:07,640 Speaker 3: during the transition period, the transition team parachutes all these 355 00:21:07,680 --> 00:21:09,880 Speaker 3: people into all the departments and agencies. 356 00:21:10,560 --> 00:21:11,320 Speaker 1: Now they're not. 357 00:21:11,320 --> 00:21:14,640 Speaker 3: The people who will ultimately take control of that department 358 00:21:14,680 --> 00:21:17,679 Speaker 3: and agency, as if they ever really do get control 359 00:21:17,720 --> 00:21:19,440 Speaker 3: of it, but that's them the story for another time. 360 00:21:20,320 --> 00:21:23,080 Speaker 3: So they parachute in and the purpose is find out 361 00:21:23,119 --> 00:21:26,800 Speaker 3: everything you can about the five w's, where, when, and 362 00:21:26,840 --> 00:21:31,160 Speaker 3: why of what's going on in that department or agency. 363 00:21:31,320 --> 00:21:34,840 Speaker 3: They compile this gigantic book. My book when I showed 364 00:21:34,880 --> 00:21:39,960 Speaker 3: up in DC in January of twenty twenty of twenty 365 00:21:40,240 --> 00:21:43,120 Speaker 3: twenty twenty, I wish it was twenty two in January 366 00:21:43,119 --> 00:21:48,520 Speaker 3: of two thousand, was probably almost six inches deep. 367 00:21:48,520 --> 00:21:50,120 Speaker 1: And there's two or three of these books. 368 00:21:51,160 --> 00:21:55,879 Speaker 3: And it was every program, it was every policy, every regulation, 369 00:21:56,680 --> 00:22:03,879 Speaker 3: every initiative that the prior administration in this that in 370 00:22:03,920 --> 00:22:07,240 Speaker 3: that case it would have been the Clinton administration. What 371 00:22:07,520 --> 00:22:11,600 Speaker 3: they were doing. And so our job was once we 372 00:22:11,680 --> 00:22:14,560 Speaker 3: got confirmed, because we can't do anything until we're confirmed, 373 00:22:15,359 --> 00:22:17,360 Speaker 3: was to go through those books and decide what to keep, 374 00:22:17,400 --> 00:22:19,600 Speaker 3: what not to keep, what to change, what not changed. 375 00:22:19,520 --> 00:22:20,159 Speaker 1: To do all of that. 376 00:22:20,600 --> 00:22:24,119 Speaker 3: But you can't do any of that until you're confirmed 377 00:22:24,160 --> 00:22:27,480 Speaker 3: by the Senate because you have no authority, so. 378 00:22:27,560 --> 00:22:29,720 Speaker 1: You're really just in limbo. 379 00:22:30,640 --> 00:22:32,240 Speaker 3: So all I could do was just read through the 380 00:22:32,240 --> 00:22:33,639 Speaker 3: books and start marketing it up and try and to 381 00:22:33,640 --> 00:22:35,280 Speaker 3: decide what I wanted to change, what I wanted to do, 382 00:22:35,320 --> 00:22:37,240 Speaker 3: and everything else while I waited on the Senate to 383 00:22:37,280 --> 00:22:38,320 Speaker 3: confirm my nomination. 384 00:22:39,359 --> 00:22:40,360 Speaker 1: And of course you you don't. 385 00:22:40,520 --> 00:22:43,240 Speaker 3: It depends on you know, the White House has priorities, 386 00:22:43,520 --> 00:22:46,040 Speaker 3: so clearly the under Secretary Home Insecurity is going to 387 00:22:46,080 --> 00:22:48,560 Speaker 3: get a lower priority than say, the Secretary of State. 388 00:22:48,960 --> 00:22:53,080 Speaker 3: I understand that, but again it hinders you because you 389 00:22:53,240 --> 00:22:56,760 Speaker 3: don't realize how quickly four years goes. 390 00:22:57,640 --> 00:22:58,640 Speaker 1: We stop and think about. 391 00:22:58,720 --> 00:23:03,200 Speaker 3: Right now Trump is getting close to his first year 392 00:23:03,640 --> 00:23:08,080 Speaker 3: to twenty five percent of his term almost finished. Now, 393 00:23:08,119 --> 00:23:11,240 Speaker 3: for you Trump haters, that's a reason to be ecstatic, 394 00:23:11,680 --> 00:23:14,320 Speaker 3: and for the Trump lovers, that's a reason to be concerned. 395 00:23:15,680 --> 00:23:20,560 Speaker 3: So back to the pink slip. The blue slip is 396 00:23:20,600 --> 00:23:23,159 Speaker 3: something that began as a courtesy. It was not a rule, 397 00:23:23,840 --> 00:23:28,159 Speaker 3: and it's certainly not in the Constitution. Back in nineteen seventeen, 398 00:23:28,720 --> 00:23:34,560 Speaker 3: the Judiciary, the Judiciary Committee at that time, they started 399 00:23:35,359 --> 00:23:40,080 Speaker 3: sending literal blue slips of paper to home state senators 400 00:23:40,119 --> 00:23:43,359 Speaker 3: because remember then the senators represented the states. So the 401 00:23:43,440 --> 00:23:46,959 Speaker 3: state would send their senators a blue piece of paper 402 00:23:48,000 --> 00:23:50,200 Speaker 3: in which they would get the views on the nominees 403 00:23:50,200 --> 00:23:55,320 Speaker 3: who would serve those states. Now, the animating thought simple, 404 00:23:55,760 --> 00:23:58,360 Speaker 3: a senator might know local conditions better sold. The committee 405 00:23:58,359 --> 00:24:01,119 Speaker 3: ought to listen to that local senator. But listening is 406 00:24:01,160 --> 00:24:05,320 Speaker 3: not vitally and for the first decades that difference mattered. 407 00:24:05,720 --> 00:24:08,800 Speaker 3: Negative or unreturned slips were weighed. Then the committee often 408 00:24:08,840 --> 00:24:11,840 Speaker 3: proceeded so the full Senate could decide on a nominee. 409 00:24:12,119 --> 00:24:15,960 Speaker 3: That was what is required in the Constitution. Advice and 410 00:24:16,040 --> 00:24:22,520 Speaker 3: consent in substance, consultation. That's married to accountability. That's not 411 00:24:22,640 --> 00:24:28,159 Speaker 3: what's occurring now. Are people like that curmudgeon listener are 412 00:24:28,160 --> 00:24:30,920 Speaker 3: the reasons why conservatives have a problem building a big. 413 00:24:30,800 --> 00:24:33,080 Speaker 2: Tent, So yeah, go away. 414 00:24:33,640 --> 00:24:38,080 Speaker 3: Uscubers need a safe space. I know because you're all 415 00:24:38,359 --> 00:24:41,639 Speaker 3: all of you are just so so pathetic and weak 416 00:24:41,720 --> 00:24:47,399 Speaker 3: and sad and well, yeah, I love my goobers, I 417 00:24:47,520 --> 00:24:48,119 Speaker 3: really do. 418 00:24:48,400 --> 00:24:54,760 Speaker 1: I love my audience. They're great. Although here's the butt. 419 00:24:56,280 --> 00:25:00,720 Speaker 3: The text line number is three three ones year o three. 420 00:25:00,960 --> 00:25:05,119 Speaker 3: Keyword micro Michael. I'm not reading the other not logging 421 00:25:05,200 --> 00:25:09,080 Speaker 3: into it. That's not mine mine three three one zero three. 422 00:25:09,480 --> 00:25:11,680 Speaker 3: So if you want to scream at me, if you 423 00:25:11,720 --> 00:25:13,840 Speaker 3: want to yell at me, or you want to give 424 00:25:13,880 --> 00:25:15,960 Speaker 3: me kudos, or are you going to tell me to 425 00:25:15,960 --> 00:25:18,200 Speaker 3: go away? You got to do that at three three 426 00:25:18,200 --> 00:25:20,679 Speaker 3: one zero three keyword micro Michael. What are you looking at? 427 00:25:20,800 --> 00:25:22,440 Speaker 2: I'm just going to say that you're a special boy 428 00:25:22,440 --> 00:25:23,760 Speaker 2: and you need your own text line. 429 00:25:23,800 --> 00:25:28,399 Speaker 1: You think you're No, it's because. 430 00:25:29,600 --> 00:25:32,960 Speaker 3: The NSSA has to read through them and approve anything 431 00:25:33,000 --> 00:25:35,240 Speaker 3: that shows up. I don't want you to think that 432 00:25:35,280 --> 00:25:37,359 Speaker 3: the NSA would be reading anything, So I mean, how 433 00:25:37,359 --> 00:25:38,040 Speaker 3: would I know that? 434 00:25:38,160 --> 00:25:40,439 Speaker 2: But I you know that, Well they're not right now 435 00:25:40,480 --> 00:25:44,000 Speaker 2: because the government shut down, so resuming tomorrow hopefully then maybe. 436 00:25:43,840 --> 00:25:46,720 Speaker 1: Oh you silly boy, you silly boy. 437 00:25:46,960 --> 00:25:49,840 Speaker 3: So you think that because the government shut down, that 438 00:25:50,080 --> 00:25:53,360 Speaker 3: all the nerds with their little headphones on, sitting out 439 00:25:53,400 --> 00:25:57,600 Speaker 3: at Fort Mead, are just asleep, or they're at subway 440 00:25:57,640 --> 00:26:02,240 Speaker 3: eating sandwiches. Eh, they're listening to you. Just be they're 441 00:26:02,240 --> 00:26:05,760 Speaker 3: listening to you. Back to the blue slip. So the 442 00:26:05,760 --> 00:26:09,239 Speaker 3: blue slip changed in the nineteen fifties. That's when they 443 00:26:09,280 --> 00:26:15,760 Speaker 3: converted this consultative custom into a one senator veto no 444 00:26:15,960 --> 00:26:19,480 Speaker 3: hearing unless you had two positive slips. Now this is 445 00:26:19,720 --> 00:26:23,560 Speaker 3: again another slippery slope today. The motive was not noble. 446 00:26:23,920 --> 00:26:29,920 Speaker 3: The effect in the South. This this is truly part 447 00:26:30,040 --> 00:26:35,320 Speaker 3: of old Jim Crow. It was to keep integrationist judges 448 00:26:35,400 --> 00:26:40,359 Speaker 3: off the bench. So the result was not just delay, 449 00:26:40,400 --> 00:26:43,199 Speaker 3: It was trying to drift. It was trying to effect 450 00:26:43,359 --> 00:26:48,199 Speaker 3: public policy. So this practice that was intended originally to 451 00:26:48,200 --> 00:26:53,720 Speaker 3: gather facts became a mechanism to block and then later 452 00:26:53,840 --> 00:26:58,960 Speaker 3: chairs reverse course. Again, it's like anything that you think 453 00:26:59,040 --> 00:27:02,080 Speaker 3: the government does today, Well, hold on, I'll tell you 454 00:27:02,080 --> 00:27:06,480 Speaker 3: about something they do differently tomorrow. You had Ted Kennedy, 455 00:27:07,280 --> 00:27:10,000 Speaker 3: then you had Strong Thurman, then you had Joe Biden, 456 00:27:10,760 --> 00:27:14,400 Speaker 3: then you had Orange hatcherm o'hia from Utah. They all 457 00:27:14,960 --> 00:27:19,800 Speaker 3: permitted the hearings to proceed despite missing slips if the 458 00:27:19,840 --> 00:27:24,200 Speaker 3: White House would quote consulting good faith. Then came along 459 00:27:24,320 --> 00:27:27,880 Speaker 3: Patrick Leahy, and he reverted to strict enforcement in two 460 00:27:27,920 --> 00:27:30,840 Speaker 3: thousand and one. So it's not that long ago, and 461 00:27:30,920 --> 00:27:34,440 Speaker 3: blue slips once again operated as a pocket veto. 462 00:27:34,600 --> 00:27:36,480 Speaker 1: Now the history's not a straight line. It's just simply 463 00:27:36,520 --> 00:27:37,360 Speaker 1: a pendulum. 464 00:27:37,760 --> 00:27:40,639 Speaker 3: But that alone lot of cautionness against treating a committee 465 00:27:40,680 --> 00:27:43,760 Speaker 3: habit as somehow that were part of the constitutional architecture. 466 00:27:43,760 --> 00:27:44,199 Speaker 1: It is not. 467 00:27:46,440 --> 00:27:52,640 Speaker 3: The Constitution's architecture is pretty darn clear. The President nominates, 468 00:27:53,640 --> 00:27:59,040 Speaker 3: the Senate gives advice and consent by majority vote, not 469 00:27:59,560 --> 00:28:04,639 Speaker 3: sixty votes, a majority vote. There is nothing in the constitution. 470 00:28:04,760 --> 00:28:09,120 Speaker 3: There is no role for a single senator silently blocking 471 00:28:09,200 --> 00:28:11,080 Speaker 3: a hearing on a nomination. 472 00:28:13,320 --> 00:28:14,480 Speaker 1: There is no role for. 473 00:28:14,440 --> 00:28:18,240 Speaker 3: A secret hold that never has to be to be defended. 474 00:28:18,520 --> 00:28:21,240 Speaker 3: You you just put your blue slip on the clerk's 475 00:28:21,280 --> 00:28:24,880 Speaker 3: desk that says I want to hold Michael Brown's nomination. 476 00:28:26,040 --> 00:28:28,600 Speaker 3: And so Michael Brown never understands why, well, I can 477 00:28:28,640 --> 00:28:30,760 Speaker 3: go have a meeting with that senator. Let's just say 478 00:28:30,760 --> 00:28:34,439 Speaker 3: it's in current. It's contemporary. It's contemporary. You know, you 479 00:28:34,520 --> 00:28:37,480 Speaker 3: know that John Hickenlooper and Michael Bennet would put a 480 00:28:37,480 --> 00:28:42,120 Speaker 3: hold on my nomination to be dog catcher. So how 481 00:28:42,120 --> 00:28:45,000 Speaker 3: do I find out what the objection is? I already 482 00:28:45,000 --> 00:28:48,320 Speaker 3: know what the objection is. I'm a Republican, they're Democrats. 483 00:28:48,680 --> 00:28:52,240 Speaker 3: Well that the Constitution doesn't deal with that. The Constitution says, 484 00:28:52,400 --> 00:28:55,600 Speaker 3: your job is to give advice and consent. You're vetoing 485 00:28:55,800 --> 00:28:59,160 Speaker 3: a presidential nomination, and you're not giving any reason. 486 00:28:59,600 --> 00:29:02,040 Speaker 1: You're not being held accountable for your reasons. 487 00:29:02,640 --> 00:29:05,960 Speaker 3: Now, what the White House will do is, and they'll 488 00:29:05,960 --> 00:29:07,680 Speaker 3: do this anyway, but in particular in case of a 489 00:29:07,720 --> 00:29:11,360 Speaker 3: blue slip, they'll schedule meetings. All right, Brown, we want 490 00:29:11,360 --> 00:29:13,760 Speaker 3: you to go meet with Hickenlooper and Bennett. So I 491 00:29:13,800 --> 00:29:16,360 Speaker 3: go up and i'd sit down their office. What's your objection? 492 00:29:16,640 --> 00:29:18,200 Speaker 3: You know, what are your concerns? 493 00:29:18,520 --> 00:29:19,800 Speaker 1: Why do you you know? Me? 494 00:29:19,960 --> 00:29:22,840 Speaker 3: Being the what as would be that I am? Would 495 00:29:22,840 --> 00:29:25,280 Speaker 3: probably just say to them, how come you don't like me? 496 00:29:26,480 --> 00:29:30,400 Speaker 3: What's the problem? Tell me what the problem is. That's 497 00:29:30,480 --> 00:29:35,000 Speaker 3: not a way to do nominations. That is a one 498 00:29:35,080 --> 00:29:37,880 Speaker 3: man man in this case of duo Bennett and Hickenlooper 499 00:29:38,160 --> 00:29:40,240 Speaker 3: deciding that, oh, that guy's never going to get into 500 00:29:40,280 --> 00:29:43,800 Speaker 3: his position as the under secretary. That's not what the 501 00:29:43,840 --> 00:29:47,880 Speaker 3: constitution requires. The blue slip is an accretion of barnacle 502 00:29:48,480 --> 00:29:52,520 Speaker 3: on this whole of all these appointments. Now, barnacles can 503 00:29:52,520 --> 00:29:54,880 Speaker 3: be harmless, but they can also slow down the ship. 504 00:29:55,160 --> 00:29:57,240 Speaker 3: And today, what are they doing? They're slowing down the 505 00:29:57,280 --> 00:29:58,840 Speaker 3: ship in an era? 506 00:29:58,920 --> 00:29:59,280 Speaker 1: Will we go? 507 00:29:59,320 --> 00:30:04,240 Speaker 3: All these pullar politics a device, it's not in the constitution, 508 00:30:04,520 --> 00:30:08,600 Speaker 3: not a Senate rule, just a device that allows one 509 00:30:08,640 --> 00:30:13,040 Speaker 3: Senator to halt consideration of a nomination for any reason, 510 00:30:13,800 --> 00:30:21,120 Speaker 3: or even worse, for no reason, that undermines electoral accountability. 511 00:30:21,320 --> 00:30:24,480 Speaker 3: I don't care if you dislike Donald Trump. Donald Trump 512 00:30:24,520 --> 00:30:28,280 Speaker 3: got elected. He got elected with a majority of the 513 00:30:28,280 --> 00:30:31,760 Speaker 3: popular vote, a majority of the electoral college, The majority 514 00:30:31,760 --> 00:30:34,240 Speaker 3: of the voters in this company voted said we want 515 00:30:34,240 --> 00:30:37,560 Speaker 3: this guy, and with this guy comes his team. Now, 516 00:30:37,600 --> 00:30:40,640 Speaker 3: if you have a legitimate objection to somebody in particular, 517 00:30:41,000 --> 00:30:43,680 Speaker 3: then have the colonies to stand up on the Senate 518 00:30:43,720 --> 00:30:46,959 Speaker 3: floor when that nomination comes forward and try to convince 519 00:30:46,960 --> 00:30:48,880 Speaker 3: you other senators that you don't like that person. 520 00:30:50,080 --> 00:30:51,080 Speaker 1: And then voters can. 521 00:30:51,200 --> 00:30:55,200 Speaker 3: Voters can judge a president's choices, and senators votes when 522 00:30:55,240 --> 00:30:58,560 Speaker 3: they get hearings and floor action, not when they exercise. 523 00:30:59,080 --> 00:31:01,120 Speaker 1: A simple paper veto