1 00:00:02,560 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:10,240 --> 00:00:15,320 Speaker 2: Hello, Dina Shanker, food writer for Business Week. Thank you 3 00:00:15,360 --> 00:00:18,279 Speaker 2: for taking our call at this last minute. Excited to 4 00:00:18,320 --> 00:00:22,640 Speaker 2: be here because we have a mission. 5 00:00:22,960 --> 00:00:25,680 Speaker 3: Should you choose to accept it? Exciting? 6 00:00:26,160 --> 00:00:31,680 Speaker 4: So, Dina, this question comes from Julio, and Julio emailed 7 00:00:31,760 --> 00:00:38,080 Speaker 4: us subject line the triscuit cracker mystery, and he's in Florida. 8 00:00:38,760 --> 00:00:42,919 Speaker 4: He's a big fan of triscut crackers, good the woven 9 00:00:44,200 --> 00:00:50,680 Speaker 4: you know, snack made by I guess I think it's Mondolizer. 10 00:00:51,320 --> 00:00:55,520 Speaker 4: I'm not Mandalize and he and here here. 11 00:00:55,400 --> 00:00:56,560 Speaker 5: Is what Julio writes. 12 00:00:56,960 --> 00:00:59,960 Speaker 4: We used to purchase store brand versions because they taste 13 00:01:00,320 --> 00:01:02,840 Speaker 4: just as good as the original, and we're frankly cheaper. 14 00:01:03,120 --> 00:01:05,160 Speaker 4: But all of a sudden, we cannot find store brand 15 00:01:05,280 --> 00:01:08,400 Speaker 4: versions at all, the Public's, Trader, Joe's, or Walmart. They 16 00:01:08,400 --> 00:01:11,560 Speaker 4: are still listed on the websites, but every one of 17 00:01:11,600 --> 00:01:14,360 Speaker 4: them is now showing out of stock. He then includes 18 00:01:14,800 --> 00:01:19,960 Speaker 4: links to all four of the leading off brand trisc its, 19 00:01:20,520 --> 00:01:24,520 Speaker 4: asking what gives is this a classic case of collusion 20 00:01:24,600 --> 00:01:26,720 Speaker 4: between the leading manufacturer and the retailers. 21 00:01:26,920 --> 00:01:28,800 Speaker 5: Should the FTC investigate? 22 00:01:29,160 --> 00:01:32,600 Speaker 4: Dina Stacy I like this question, but we have no 23 00:01:32,680 --> 00:01:33,880 Speaker 4: idea how to answer it. 24 00:01:34,160 --> 00:01:35,720 Speaker 1: You ambushed me into an. 25 00:01:35,640 --> 00:01:40,319 Speaker 5: Assignment that is exactly what we see. 26 00:01:40,360 --> 00:01:45,800 Speaker 2: You're thinking of it as a spontaneous collaborative journey. 27 00:01:46,040 --> 00:01:48,680 Speaker 1: I'll you know my contact at ALDI. I'll be like, 28 00:01:48,920 --> 00:01:50,240 Speaker 1: please help me look cool. 29 00:01:51,440 --> 00:01:53,920 Speaker 2: So you have a contact at Aldi. We definitely contacted 30 00:01:53,920 --> 00:01:57,200 Speaker 2: the right person for our collaborative spontaneous journey. 31 00:01:57,480 --> 00:01:59,560 Speaker 4: Well, we'll check back in with you later in the 32 00:01:59,600 --> 00:02:02,560 Speaker 4: show and find out get get to the bottom this week, 33 00:02:02,640 --> 00:02:06,560 Speaker 4: risk it a little closer to the bottom, and then 34 00:02:06,640 --> 00:02:08,960 Speaker 4: we'll send the referral to the Justice Department if need be. 35 00:02:09,160 --> 00:02:10,040 Speaker 6: We'll see what I can do. 36 00:02:10,600 --> 00:02:11,760 Speaker 5: Thank you, Thanks Dina. 37 00:02:16,760 --> 00:02:17,320 Speaker 3: Okay, Max. 38 00:02:17,360 --> 00:02:19,280 Speaker 2: We will get back to Dina at the end of 39 00:02:19,280 --> 00:02:21,280 Speaker 2: the show, but before we do, we have some important 40 00:02:21,280 --> 00:02:25,120 Speaker 2: ground to cover. There is your very favorite topic of 41 00:02:25,240 --> 00:02:27,960 Speaker 2: late the World Cup big soccer match. 42 00:02:27,960 --> 00:02:30,720 Speaker 5: Football as the rest of the world calls it, but 43 00:02:30,760 --> 00:02:31,160 Speaker 5: not me. 44 00:02:32,400 --> 00:02:34,799 Speaker 3: But also residential profits. 45 00:02:35,040 --> 00:02:37,320 Speaker 4: Yeah, there's been a ton of news around this lately, 46 00:02:37,600 --> 00:02:41,800 Speaker 4: around President Trump and his family enriching themselves. 47 00:02:41,600 --> 00:02:43,400 Speaker 5: While they are in power. 48 00:02:43,680 --> 00:02:48,400 Speaker 4: We have Bloomberg's Tim O'Brien, longtime, longtime Trump reporter and 49 00:02:48,600 --> 00:02:50,800 Speaker 4: expert on this stuff here to talk about that. 50 00:02:51,160 --> 00:02:52,560 Speaker 3: I'm Stacey Mannix Smith and. 51 00:02:52,520 --> 00:02:56,000 Speaker 4: I'm Max Chafkin, and this is everybody's business from Bloomber 52 00:02:56,000 --> 00:02:56,519 Speaker 4: Business Week. 53 00:02:56,760 --> 00:03:00,840 Speaker 3: Stick around. 54 00:03:03,120 --> 00:03:06,840 Speaker 2: So, Max, the US economy is, I don't know. I 55 00:03:06,840 --> 00:03:09,200 Speaker 2: think it's this amazing machine. I never get tired of 56 00:03:09,200 --> 00:03:13,079 Speaker 2: thinking about it, writing about it. But there are moments 57 00:03:13,560 --> 00:03:17,360 Speaker 2: when I have to admit it feels a little rigged, 58 00:03:18,400 --> 00:03:22,480 Speaker 2: things like payday loans or predatory loans or profiteering. There 59 00:03:22,600 --> 00:03:25,560 Speaker 2: is a degree of unfairness that is always baked into 60 00:03:25,560 --> 00:03:28,600 Speaker 2: the economy and it does feel like we've been seeing 61 00:03:28,680 --> 00:03:29,040 Speaker 2: more of that. 62 00:03:29,360 --> 00:03:33,000 Speaker 4: And not to suggest that the great micro lending industry 63 00:03:33,480 --> 00:03:36,600 Speaker 4: or great capitalists are doing anything on tour, but this 64 00:03:36,840 --> 00:03:40,240 Speaker 4: month's issue of Bloomberg BusinessWeek is all about grift, all 65 00:03:40,280 --> 00:03:44,280 Speaker 4: about the different places in the economy that we're seeing. 66 00:03:44,880 --> 00:03:47,720 Speaker 4: You know, it's sort of different flavors of unfairness maybe, Stacy. 67 00:03:47,600 --> 00:03:50,800 Speaker 2: Yes, And you know, I think consumer sentiment has been 68 00:03:50,840 --> 00:03:53,280 Speaker 2: at an all time low, and I think grift is 69 00:03:53,320 --> 00:03:57,080 Speaker 2: part of why. And speaking of consumers, we sent our 70 00:03:57,200 --> 00:04:00,480 Speaker 2: wonderful producer, Jasmine gt Green out to talk to some 71 00:04:00,520 --> 00:04:04,520 Speaker 2: real consumers about how they feel about the economy and 72 00:04:04,600 --> 00:04:08,240 Speaker 2: where they see grift, where they feel like things are unfair. 73 00:04:09,200 --> 00:04:11,320 Speaker 7: I feel like I'm getting scammed on my health insurance. 74 00:04:12,000 --> 00:04:14,480 Speaker 7: I pay maybe three hundred dollars a month for my 75 00:04:14,520 --> 00:04:19,039 Speaker 7: health insurance, and I cannot find a therapist on this 76 00:04:19,120 --> 00:04:21,520 Speaker 7: green Earth who takes my health insurance. 77 00:04:21,920 --> 00:04:24,880 Speaker 6: A year ago, a cookout tray in North Carolina was 78 00:04:25,520 --> 00:04:29,680 Speaker 6: seven dollars, and even that was too expensive. Now it 79 00:04:29,760 --> 00:04:31,880 Speaker 6: is like eleven dollars for a cook carat tray, and 80 00:04:31,920 --> 00:04:34,400 Speaker 6: I know that it cannot be that expensive, They're still 81 00:04:34,440 --> 00:04:35,279 Speaker 6: they're scamming on me. 82 00:04:35,600 --> 00:04:40,040 Speaker 7: I feel like I'm getting scammed in the entire marketplace 83 00:04:40,240 --> 00:04:42,080 Speaker 7: of like things that. 84 00:04:42,040 --> 00:04:45,400 Speaker 8: You are marketed to when you are pregnant and when 85 00:04:45,440 --> 00:04:45,720 Speaker 8: you have. 86 00:04:45,720 --> 00:04:46,520 Speaker 3: A baby coming. 87 00:04:48,480 --> 00:04:50,400 Speaker 9: They really want you. 88 00:04:50,440 --> 00:04:54,279 Speaker 7: To spend like thousands and thousands of dollars on items 89 00:04:54,320 --> 00:04:55,880 Speaker 7: that you will use for like two years. 90 00:04:56,080 --> 00:04:58,240 Speaker 3: And I refuse. 91 00:04:58,120 --> 00:05:02,440 Speaker 10: My biggest expenses rent say, I don't know. I feel 92 00:05:02,480 --> 00:05:04,400 Speaker 10: like the majority of my of the money I make 93 00:05:04,520 --> 00:05:09,800 Speaker 10: is getting going towards rent. That and taxes. I feel like, 94 00:05:10,440 --> 00:05:12,000 Speaker 10: you know, you see how much you get in your 95 00:05:12,040 --> 00:05:13,880 Speaker 10: paycheck pre tax, and then you actually look at your 96 00:05:13,880 --> 00:05:16,159 Speaker 10: bank account and you're like Where did it all go? 97 00:05:17,160 --> 00:05:18,120 Speaker 7: It feels like a scam. 98 00:05:18,760 --> 00:05:21,320 Speaker 5: How come no one mentioned crypto? I don't understand. 99 00:05:22,720 --> 00:05:25,480 Speaker 2: Well, not everyone is as tuned in to the world 100 00:05:25,600 --> 00:05:27,040 Speaker 2: of cryptocurrency as you are. 101 00:05:27,120 --> 00:05:27,839 Speaker 3: Max Luckily. 102 00:05:27,920 --> 00:05:31,920 Speaker 2: I feel like crypto aficionados are always excited to explain. 103 00:05:31,560 --> 00:05:34,000 Speaker 3: Crypto to people and why they should get into it. 104 00:05:34,400 --> 00:05:36,080 Speaker 3: But here to discuss grift with us. 105 00:05:36,080 --> 00:05:39,440 Speaker 2: We're very lucky, is executive editor of Bloomberg Opinion, Tim O'Brien. 106 00:05:39,960 --> 00:05:41,080 Speaker 3: Welcome, Tim tebe. 107 00:05:42,279 --> 00:05:46,440 Speaker 2: You have a great column in BusinessWeek about Trump and grift. 108 00:05:46,720 --> 00:05:48,359 Speaker 2: But before we get to that, I would love to 109 00:05:48,440 --> 00:05:51,600 Speaker 2: hear your thoughts on what you heard. What people are 110 00:05:51,600 --> 00:05:54,080 Speaker 2: talking about where they see grift in the economy. 111 00:05:54,360 --> 00:05:59,880 Speaker 11: Well, you know, I always feel sympathetic. Would anyone talk 112 00:06:00,080 --> 00:06:04,600 Speaker 11: about struggling in the richest country in the world. And 113 00:06:04,640 --> 00:06:06,480 Speaker 11: I think, you know, one of the secrets to American 114 00:06:06,560 --> 00:06:09,239 Speaker 11: stability and prosperity has always been a big middle class. 115 00:06:09,640 --> 00:06:12,760 Speaker 11: And when you have middle class people saying I can't 116 00:06:12,760 --> 00:06:15,840 Speaker 11: afford to send my children to college, my electricity bill 117 00:06:15,880 --> 00:06:18,760 Speaker 11: of skyrocketing, my food bill of skyrocketing, I can't pay 118 00:06:18,760 --> 00:06:21,840 Speaker 11: for health care, I can't do cookouts, I can't buy 119 00:06:21,880 --> 00:06:25,559 Speaker 11: a stroller, then something's wrong. And when you layer upon 120 00:06:25,720 --> 00:06:29,240 Speaker 11: that people at the top of the food chain being 121 00:06:29,240 --> 00:06:32,360 Speaker 11: in a position to further pad their wallets that are 122 00:06:32,520 --> 00:06:36,560 Speaker 11: already very comfortably fat, I think it only adds to 123 00:06:37,000 --> 00:06:39,840 Speaker 11: a very good question we should ask, which is what 124 00:06:39,960 --> 00:06:40,800 Speaker 11: is wrong about all of this? 125 00:06:41,240 --> 00:06:41,600 Speaker 5: Tim? 126 00:06:41,880 --> 00:06:44,120 Speaker 4: I want to get to the potential connection between what 127 00:06:44,160 --> 00:06:46,839 Speaker 4: we heard and kind of what you wrote about. But 128 00:06:46,960 --> 00:06:50,720 Speaker 4: just to lay it out, you wrote about Trump and 129 00:06:51,400 --> 00:06:55,279 Speaker 4: the notion of grift, the suggestion I guess that he's 130 00:06:55,320 --> 00:06:58,359 Speaker 4: somebody you know's full of schemes. Can you just talk 131 00:06:58,480 --> 00:07:02,320 Speaker 4: through how you see this aspect of the Trump presidency. 132 00:07:02,440 --> 00:07:04,720 Speaker 11: Donald Trump is an eighty year old man who has 133 00:07:04,800 --> 00:07:08,000 Speaker 11: been in business for the better part of sixty years, 134 00:07:08,360 --> 00:07:11,560 Speaker 11: and in no single year in that entire sixty year 135 00:07:11,600 --> 00:07:14,520 Speaker 11: span did he earn as much money as he did 136 00:07:15,120 --> 00:07:18,000 Speaker 11: during essentially the first year and a half of his 137 00:07:18,120 --> 00:07:21,360 Speaker 11: second term as president. And why is that? Is it 138 00:07:21,400 --> 00:07:24,880 Speaker 11: because he's very hard working? Is it because he's uniquely 139 00:07:24,880 --> 00:07:28,720 Speaker 11: inventive and entrepreneurial. No, it's because he's president. And then 140 00:07:29,120 --> 00:07:31,240 Speaker 11: what is it about the presidency that enables him to 141 00:07:31,280 --> 00:07:32,760 Speaker 11: do this? Well? The president of United States is a 142 00:07:32,840 --> 00:07:35,880 Speaker 11: very powerful figure. They all have been very powerful figures, 143 00:07:36,320 --> 00:07:41,720 Speaker 11: and they are the superintendent and the caretaker of the 144 00:07:41,760 --> 00:07:47,360 Speaker 11: regulatory system laws. And then just the basic ethical clothing 145 00:07:47,600 --> 00:07:50,320 Speaker 11: that attaches itself to the most powerful office in the world. 146 00:07:50,800 --> 00:07:53,560 Speaker 11: And presidents prior to Trump have been very careful not 147 00:07:53,640 --> 00:07:57,080 Speaker 11: to pierce that veil because they respect the idea that 148 00:07:57,160 --> 00:08:01,720 Speaker 11: because the president is so powerful, things shouldn't happen the 149 00:08:01,760 --> 00:08:05,200 Speaker 11: president should arbitrarily abuse his or her powers. And then secondly, 150 00:08:05,480 --> 00:08:07,800 Speaker 11: you certainly shouldn't be turning the White House into a 151 00:08:07,800 --> 00:08:10,720 Speaker 11: Walmart and taking your winnings to the bank on a 152 00:08:10,720 --> 00:08:14,200 Speaker 11: weekly basis, especially the tune to the tune of billions 153 00:08:14,240 --> 00:08:16,960 Speaker 11: of dollars, all of which Donald Trump has done. And 154 00:08:17,200 --> 00:08:19,200 Speaker 11: that's a bad thing. And I say that, I don't 155 00:08:19,200 --> 00:08:22,119 Speaker 11: think that's a partisan issue. This is a completely about 156 00:08:22,120 --> 00:08:25,000 Speaker 11: good government. It's about making sure that the stewards of 157 00:08:25,000 --> 00:08:27,280 Speaker 11: our public well being aren't stealing. 158 00:08:27,720 --> 00:08:31,960 Speaker 4: You alluded to Trump's long career in business, the sixty 159 00:08:32,040 --> 00:08:34,319 Speaker 4: years of sort of building up his image of making money. 160 00:08:34,400 --> 00:08:38,240 Speaker 4: You were kind of like the expert in this topic. 161 00:08:38,280 --> 00:08:42,040 Speaker 4: I don't think I'm exaggerating you. You covered Trump at 162 00:08:42,040 --> 00:08:44,400 Speaker 4: the New York Times for more than a decade, wrote 163 00:08:44,400 --> 00:08:48,439 Speaker 4: a book, Trump Nation, the Making of the Trump Mythology 164 00:08:48,559 --> 00:08:51,319 Speaker 4: and his and his business, you know, empire, and then 165 00:08:51,440 --> 00:08:54,000 Speaker 4: became a you know, a player in that story when 166 00:08:54,080 --> 00:08:57,560 Speaker 4: when Donald Trump took issue with your characterization of his 167 00:08:57,640 --> 00:09:00,679 Speaker 4: net worth, you know, to give you me and sued you. 168 00:09:01,080 --> 00:09:02,640 Speaker 5: And I'm kind of curious. 169 00:09:03,840 --> 00:09:07,120 Speaker 4: I know you've written about this, but what has it 170 00:09:07,200 --> 00:09:10,760 Speaker 4: been like experiencing the Trump presidency through that lens. 171 00:09:11,040 --> 00:09:13,400 Speaker 11: My first exposure to Donald Trump was in nineteen ninety 172 00:09:13,440 --> 00:09:17,920 Speaker 11: I was the research assistant on Wayne Barrett's original Trump biography, 173 00:09:17,960 --> 00:09:20,200 Speaker 11: and that's how I first got exposed to Trump. Wayne 174 00:09:20,240 --> 00:09:23,880 Speaker 11: was like a legendary New York investigative reporter, and I 175 00:09:23,920 --> 00:09:25,600 Speaker 11: worked with him for a couple of years on that book. 176 00:09:25,640 --> 00:09:27,760 Speaker 11: I then wrote a book about gambling in the mid nineties. 177 00:09:27,800 --> 00:09:30,040 Speaker 11: I interviewed Trump for that, and then in the early 178 00:09:30,080 --> 00:09:32,360 Speaker 11: two thousands of The New York Times. I covered him 179 00:09:32,640 --> 00:09:34,800 Speaker 11: at the Times and then he cooperated with this book. 180 00:09:35,040 --> 00:09:36,880 Speaker 3: I wrote, why did he sue you? 181 00:09:37,520 --> 00:09:40,679 Speaker 11: He said that I intentionally misrepresented how much money he 182 00:09:40,800 --> 00:09:43,000 Speaker 11: was worth at the time. He was saying he was 183 00:09:43,000 --> 00:09:46,040 Speaker 11: worth six billion dollars. My sources said he was worth 184 00:09:46,120 --> 00:09:47,120 Speaker 11: well less than a billion. 185 00:09:47,200 --> 00:09:48,920 Speaker 3: Well, he sued you because you said he. 186 00:09:48,920 --> 00:09:50,920 Speaker 11: May not be as worth as much money as he says, 187 00:09:51,000 --> 00:09:54,440 Speaker 11: and so he sued me for the difference between five 188 00:09:54,440 --> 00:09:57,720 Speaker 11: billion dollars. I think it's the largest libel loss in 189 00:09:57,880 --> 00:10:00,800 Speaker 11: US history. Deposition I be getting this wrong. 190 00:10:00,840 --> 00:10:03,840 Speaker 4: But the deposition produced some amazing quotes, and including one 191 00:10:03,880 --> 00:10:07,240 Speaker 4: from Trump that was something like, my net worth fluctuates 192 00:10:07,640 --> 00:10:10,439 Speaker 4: every day, sometimes based on how I filmize, based on 193 00:10:10,480 --> 00:10:12,680 Speaker 4: what's going on, sometimes based on what I feel. 194 00:10:12,920 --> 00:10:15,400 Speaker 11: Yes, also said the same thing about the profits from 195 00:10:15,400 --> 00:10:18,000 Speaker 11: his business as his goalf business. He said, he said, 196 00:10:18,240 --> 00:10:21,440 Speaker 11: my profits are basically mental projections, quote unquote. We just 197 00:10:21,600 --> 00:10:24,760 Speaker 11: closed him that litigation for two days. My lawyer was 198 00:10:24,800 --> 00:10:27,280 Speaker 11: Mary Joe White, former US Attorney for the Southern District. 199 00:10:27,360 --> 00:10:29,320 Speaker 11: I had the backing of the New York Times. They 200 00:10:29,559 --> 00:10:31,360 Speaker 11: stripped the bark off of him like an old tree 201 00:10:31,440 --> 00:10:33,880 Speaker 11: during that deposition, and it became kind of a Rosetta 202 00:10:33,960 --> 00:10:37,760 Speaker 11: stone for when Trump first ran in twenty fifteen, his 203 00:10:37,840 --> 00:10:40,840 Speaker 11: suit with me got wrapped up. It got tossed out 204 00:10:40,880 --> 00:10:44,160 Speaker 11: after an appeal in twenty eleven. I really never thought 205 00:10:44,200 --> 00:10:46,480 Speaker 11: I would intersect with him again, and then in twenty fifteen, 206 00:10:46,520 --> 00:10:49,120 Speaker 11: he rolls down the escalator. I did not think he'd 207 00:10:49,120 --> 00:10:51,319 Speaker 11: become president. I was wildly wrong about that. 208 00:10:51,880 --> 00:10:52,080 Speaker 9: You know. 209 00:10:52,200 --> 00:10:55,079 Speaker 11: I think the first stage of US as a country 210 00:10:55,200 --> 00:10:59,760 Speaker 11: getting used to Trump is thinking beyond Trump is a 211 00:10:59,760 --> 00:11:03,000 Speaker 11: bad guy, or Trump does these things that are obscene 212 00:11:03,040 --> 00:11:05,280 Speaker 11: or Trump violate, all of which is important to focus on. 213 00:11:05,559 --> 00:11:09,600 Speaker 11: But the larger thing here is he's an outcome. And 214 00:11:09,679 --> 00:11:12,280 Speaker 11: I think there's a lot of myths Americans tell themselves 215 00:11:12,360 --> 00:11:16,400 Speaker 11: about what we've accomplished as a country, and Trump sort of, 216 00:11:16,440 --> 00:11:18,280 Speaker 11: you know, stripped the band aid off this idea that 217 00:11:18,280 --> 00:11:23,520 Speaker 11: we'd made enough progress around economic equity, civil rights, and 218 00:11:23,600 --> 00:11:26,240 Speaker 11: on and on. And the challenge we are seeing now 219 00:11:26,360 --> 00:11:31,319 Speaker 11: is can our institutions rise to the occasion and both 220 00:11:31,400 --> 00:11:33,920 Speaker 11: monitor and check someone like this? And I think when 221 00:11:33,960 --> 00:11:37,240 Speaker 11: we come to something like grifting and the way he's 222 00:11:37,240 --> 00:11:40,000 Speaker 11: been able to monetize the president, the answer is absolutely not. 223 00:11:40,600 --> 00:11:43,640 Speaker 2: So there are a lot of things that presidents do 224 00:11:43,760 --> 00:11:46,400 Speaker 2: that cause harm in various degrees. 225 00:11:46,520 --> 00:11:50,640 Speaker 3: It's I guess, comes with the job. What's so bad 226 00:11:51,040 --> 00:11:51,640 Speaker 3: about this? 227 00:11:52,440 --> 00:11:56,320 Speaker 2: I mean, he's making some extra money, maybe there's a 228 00:11:56,360 --> 00:12:00,240 Speaker 2: little corruption profiteering, Like why is this why is this 229 00:12:00,480 --> 00:12:00,920 Speaker 2: so bad? 230 00:12:00,960 --> 00:12:03,880 Speaker 3: I mean, it's not a war. Nobody's dying. Like, what's 231 00:12:03,920 --> 00:12:06,000 Speaker 3: so bad about grift Stacy? 232 00:12:06,040 --> 00:12:12,040 Speaker 11: You sound just like Todd blanche or the Attorney general 233 00:12:12,360 --> 00:12:15,880 Speaker 11: nominee or I think that is the White House's response 234 00:12:15,920 --> 00:12:18,760 Speaker 11: to this is there's no conflict of interest. Clearly there is, 235 00:12:18,800 --> 00:12:21,240 Speaker 11: and they say that time and again. I think what 236 00:12:21,360 --> 00:12:23,800 Speaker 11: it would be useful when we question this, and it's 237 00:12:23,920 --> 00:12:27,120 Speaker 11: healthy that you are and saying is it really that bad? 238 00:12:27,720 --> 00:12:30,360 Speaker 11: Is to talk about the impacts, not just the act, 239 00:12:31,200 --> 00:12:34,200 Speaker 11: and so people can disagree about whether the conflict of interests. 240 00:12:34,200 --> 00:12:37,360 Speaker 11: I happen to think it's very clear and troubling, but 241 00:12:37,440 --> 00:12:40,559 Speaker 11: the impacts are really bad when it comes to crypto. 242 00:12:40,640 --> 00:12:44,120 Speaker 11: For example, shortly after Donald Trump was inaugurated, the chief 243 00:12:44,160 --> 00:12:48,120 Speaker 11: spymaster of the UAE invested five hundred million dollars in 244 00:12:48,360 --> 00:12:51,960 Speaker 11: the Trump family's crypto company. A short time after that, 245 00:12:52,000 --> 00:12:55,480 Speaker 11: about two months later, the federal government lifted a ban 246 00:12:55,880 --> 00:13:00,240 Speaker 11: on the export of very high end computer chips to 247 00:13:00,320 --> 00:13:03,959 Speaker 11: the UAE that the Biden administration had put an export 248 00:13:04,040 --> 00:13:07,320 Speaker 11: ban on for national security reasons because they can be 249 00:13:07,440 --> 00:13:11,400 Speaker 11: used obviously in weapons of war. It is not good 250 00:13:11,800 --> 00:13:17,640 Speaker 11: for the United States to have our most innovative and 251 00:13:17,720 --> 00:13:22,480 Speaker 11: coveted products that also contribute to military efficiency go out 252 00:13:22,480 --> 00:13:25,840 Speaker 11: on the open market. It makes America less safe. It 253 00:13:25,840 --> 00:13:29,000 Speaker 11: makes Americans less safe. And the calculus in this particular 254 00:13:29,040 --> 00:13:32,400 Speaker 11: example is that the president sold out the well being 255 00:13:32,400 --> 00:13:35,400 Speaker 11: of average Americans and national security so the family could 256 00:13:35,400 --> 00:13:36,600 Speaker 11: get five hundred million dollars. 257 00:13:36,920 --> 00:13:39,480 Speaker 3: What are the implications for the US. 258 00:13:40,000 --> 00:13:43,880 Speaker 2: How does this affect the country and the government aside 259 00:13:43,920 --> 00:13:46,000 Speaker 2: from Trump and his presidency. 260 00:13:46,520 --> 00:13:49,520 Speaker 11: You know, the United States is an experiment, and it's 261 00:13:49,559 --> 00:13:52,480 Speaker 11: an experiment in the idea that the rule of law 262 00:13:52,720 --> 00:13:59,040 Speaker 11: and voting and free markets can affect a fairer, more productive, 263 00:13:59,080 --> 00:14:01,600 Speaker 11: and more equitable so society. And part of that is 264 00:14:01,600 --> 00:14:04,160 Speaker 11: that people here are acting in good faith and that 265 00:14:04,520 --> 00:14:07,360 Speaker 11: people aren't stealing willy nilly, whether than the private sector 266 00:14:07,440 --> 00:14:10,920 Speaker 11: or the public sector, and that you can create a vibrant, 267 00:14:11,120 --> 00:14:14,840 Speaker 11: fair society from that. And once that is undermined or 268 00:14:14,880 --> 00:14:19,680 Speaker 11: sabotaged by people at the top bending it all towards 269 00:14:19,760 --> 00:14:25,080 Speaker 11: their own uses and towards their own financial gain, then 270 00:14:25,280 --> 00:14:28,120 Speaker 11: you lose trust and the experiment is in danger. So 271 00:14:28,160 --> 00:14:30,560 Speaker 11: I think the American experiment is in danger, right. 272 00:14:30,440 --> 00:14:34,480 Speaker 4: Now, Tim, really quick. All time favorite Trump. 273 00:14:34,320 --> 00:14:39,080 Speaker 11: Scheme definitely crypto in the present because it's so humongous 274 00:14:39,200 --> 00:14:42,080 Speaker 11: and untoward and gross. In the past, Trump. 275 00:14:41,880 --> 00:14:43,000 Speaker 5: Vodka, I didn't even know there was. 276 00:14:43,040 --> 00:14:44,080 Speaker 3: Trump was also. 277 00:14:43,880 --> 00:14:47,640 Speaker 11: Trump ties, Trump underwear, Trump trum, Trump coloonne a magazine. 278 00:14:48,000 --> 00:14:50,800 Speaker 11: There's nothing slanet Earth that hasn't got the Trump name 279 00:14:50,840 --> 00:14:51,000 Speaker 11: on it. 280 00:14:51,120 --> 00:14:53,960 Speaker 2: Got a Trump logo, including a tower. 281 00:14:56,360 --> 00:15:05,800 Speaker 11: Tim O'Brien, thank you so much, Thank you, Thanks Maxim, Stacy. 282 00:15:06,480 --> 00:15:11,240 Speaker 4: Stacy speaking of grift, speaking of allegations. 283 00:15:11,560 --> 00:15:16,160 Speaker 3: Excited to see you think it's a grift. 284 00:15:16,320 --> 00:15:19,000 Speaker 4: No, you know, and to be to be honest, I 285 00:15:19,080 --> 00:15:21,160 Speaker 4: hinted at this the last time we talked about this, 286 00:15:21,560 --> 00:15:24,400 Speaker 4: but I am like fully World Cup, I know, I know, 287 00:15:25,640 --> 00:15:27,640 Speaker 4: and I think there's a lot to We talked to 288 00:15:27,720 --> 00:15:30,120 Speaker 4: Randall Williams what was it four weeks ago at the 289 00:15:30,120 --> 00:15:33,760 Speaker 4: beginning of the World Cup. He is back, Randall Williams, 290 00:15:33,800 --> 00:15:35,040 Speaker 4: Bloomberg Sports reporter. 291 00:15:35,160 --> 00:15:37,360 Speaker 8: How you doing, I'm doing all right. I'm excited. 292 00:15:37,560 --> 00:15:41,280 Speaker 4: So Randall, when we saw you last, the big question was, 293 00:15:41,760 --> 00:15:44,200 Speaker 4: you know, there was a swirl of concern around the 294 00:15:44,200 --> 00:15:47,560 Speaker 4: World Cup. You had very high ticket prices and maybe 295 00:15:47,600 --> 00:15:49,960 Speaker 4: and and they seem to be falling. There were questions 296 00:15:50,000 --> 00:15:52,920 Speaker 4: about whether this larger format, whether they be able to 297 00:15:52,920 --> 00:15:56,000 Speaker 4: fill the stadiums. We had all this, all this concern 298 00:15:56,200 --> 00:15:58,760 Speaker 4: and and the verdict is in now. 299 00:15:58,720 --> 00:16:01,880 Speaker 5: And it is we shouldn't have worried about anything. The 300 00:16:01,880 --> 00:16:02,800 Speaker 5: World Cup rocks. 301 00:16:03,240 --> 00:16:06,640 Speaker 4: TV ratings are huge, Attendance is huge, ticket prices are huge. 302 00:16:06,680 --> 00:16:09,480 Speaker 4: It's going great from a business perspective at least. 303 00:16:09,560 --> 00:16:12,720 Speaker 12: Yeah, my managing editor had that prediction. Giles Turner was 304 00:16:12,720 --> 00:16:14,760 Speaker 12: saying that the World Cup will be just fine. And 305 00:16:14,840 --> 00:16:17,480 Speaker 12: as you said, all of the biggest concerns came from 306 00:16:17,520 --> 00:16:20,800 Speaker 12: on the field, which generally is what how sports you 307 00:16:20,840 --> 00:16:23,560 Speaker 12: would you would ask for, Like all of the controversies, 308 00:16:23,560 --> 00:16:25,280 Speaker 12: so long as they're on the field and it doesn't 309 00:16:25,280 --> 00:16:28,480 Speaker 12: impact business, most sporting organizations will take it. It's when 310 00:16:28,520 --> 00:16:31,800 Speaker 12: things are happening off the field that you can't live with. 311 00:16:31,920 --> 00:16:34,160 Speaker 12: And you have two Titans facing off on Sunday. 312 00:16:34,000 --> 00:16:36,840 Speaker 4: Well, and the ratings, I mean, you know, one of 313 00:16:36,880 --> 00:16:39,840 Speaker 4: the things in terms of TV that going into this 314 00:16:40,000 --> 00:16:44,200 Speaker 4: was the US team had been playing poorly. TV ratings 315 00:16:44,800 --> 00:16:46,560 Speaker 4: are very tied to the performance of the US for 316 00:16:46,800 --> 00:16:49,760 Speaker 4: the World Cup. Also, the Mexican team and we had 317 00:16:49,960 --> 00:16:52,400 Speaker 4: a bunch of things break in the right direction. You know, 318 00:16:52,400 --> 00:16:55,360 Speaker 4: we had the US, Mexico and Canada play really well. 319 00:16:55,360 --> 00:16:59,200 Speaker 4: And the ratings randle. They're huge, something like forty million 320 00:16:59,320 --> 00:17:03,040 Speaker 4: viewers at the peak on Fox for the US Belgian 321 00:17:03,080 --> 00:17:05,600 Speaker 4: game that was the game where they got eliminated. Another 322 00:17:05,640 --> 00:17:09,159 Speaker 4: ten million on Telemundo. You kind of have to torture 323 00:17:09,200 --> 00:17:10,959 Speaker 4: the data on this, but there are people saying, oh, 324 00:17:11,000 --> 00:17:15,920 Speaker 4: this is the biggest non NFL audience for a sporting event, 325 00:17:15,960 --> 00:17:18,440 Speaker 4: for anything since the nineteen ninety four Olympics. 326 00:17:18,680 --> 00:17:20,959 Speaker 5: I mean, I think it's it's a huge number. 327 00:17:21,320 --> 00:17:22,240 Speaker 8: I think you're right. 328 00:17:22,280 --> 00:17:25,160 Speaker 12: As I think about all of the most watched sporting events, 329 00:17:25,160 --> 00:17:28,600 Speaker 12: you think of Caitlyn Clark and her reign at Iowa, 330 00:17:28,720 --> 00:17:32,320 Speaker 12: You think of the twenty twenty four Olympic gold medal 331 00:17:32,359 --> 00:17:35,160 Speaker 12: game between France and the US, and you go back 332 00:17:35,200 --> 00:17:38,359 Speaker 12: to twenty sixteen and the NBA Finals, which was Lebron 333 00:17:38,400 --> 00:17:40,280 Speaker 12: three to one on the Warriors, and you go back 334 00:17:40,320 --> 00:17:43,399 Speaker 12: farther to Michael Jordan, and I believe Michael Jordan's the 335 00:17:43,480 --> 00:17:46,440 Speaker 12: average viewership was around thirty five million. But it doesn't 336 00:17:46,480 --> 00:17:50,520 Speaker 12: surprise me that global tournaments draw these type of numbers 337 00:17:50,560 --> 00:17:53,160 Speaker 12: because there are so many people that are interested, especially 338 00:17:53,200 --> 00:17:55,760 Speaker 12: when the countries are Cinderella stories, Like first of all, 339 00:17:55,760 --> 00:17:57,919 Speaker 12: it's no coincidence that all of them made it to 340 00:17:57,920 --> 00:17:59,960 Speaker 12: the round to sixteen and then they got belted out 341 00:18:00,280 --> 00:18:03,840 Speaker 12: of the tournament, because there are levels to this in soccer, 342 00:18:03,880 --> 00:18:06,320 Speaker 12: and I think that all of them would consider this 343 00:18:06,400 --> 00:18:09,560 Speaker 12: a tremendous success. But if you ask them, would they 344 00:18:09,680 --> 00:18:12,399 Speaker 12: have rather gone farther? Of course, but they played against 345 00:18:12,480 --> 00:18:15,640 Speaker 12: titans like Belgium, I would say is a B tier team, 346 00:18:15,680 --> 00:18:19,880 Speaker 12: whereas the US has always tietered around Seatier and Mexico 347 00:18:19,920 --> 00:18:22,480 Speaker 12: played England, and despite England not being able to capture 348 00:18:22,520 --> 00:18:25,959 Speaker 12: a World Cup championship in over fifty years, if not sixty, 349 00:18:26,000 --> 00:18:29,800 Speaker 12: I believe England is still a titan in the sport. 350 00:18:30,000 --> 00:18:31,880 Speaker 12: And then of course you have Canada, which I think 351 00:18:31,920 --> 00:18:34,240 Speaker 12: Canada to some people just were like, Okay, they're happy 352 00:18:34,280 --> 00:18:36,359 Speaker 12: to be here. But they competed well and I believe 353 00:18:36,359 --> 00:18:39,919 Speaker 12: they were eliminated by Morocco, and Morocco is probably the 354 00:18:39,960 --> 00:18:43,600 Speaker 12: best African country competing in this and so there's levels 355 00:18:43,640 --> 00:18:46,320 Speaker 12: to this, and I think we played the three countries 356 00:18:46,359 --> 00:18:48,199 Speaker 12: played a great host there was not a lot of 357 00:18:48,560 --> 00:18:52,920 Speaker 12: controversy outside of again football on the field, and that's 358 00:18:52,960 --> 00:18:53,879 Speaker 12: good for FIFA. 359 00:18:54,080 --> 00:18:56,520 Speaker 2: This has been like a huge win, as we were 360 00:18:56,520 --> 00:18:59,160 Speaker 2: talking about, but it didn't seem like it was necessarily 361 00:18:59,200 --> 00:19:01,280 Speaker 2: going to be because because the US is not a 362 00:19:01,320 --> 00:19:04,639 Speaker 2: big soccer country or it hasn't traditionally been. There were 363 00:19:04,640 --> 00:19:07,480 Speaker 2: a lot of issues around immigration. People were worried about 364 00:19:07,560 --> 00:19:12,160 Speaker 2: visiting from other countries, and the ticket pricing seems strange 365 00:19:12,200 --> 00:19:15,680 Speaker 2: and very high. But it seems like everything went well, 366 00:19:15,720 --> 00:19:17,440 Speaker 2: Like where did everything go right? 367 00:19:18,240 --> 00:19:21,720 Speaker 12: I really think that there was no meddaling outside of 368 00:19:21,760 --> 00:19:24,960 Speaker 12: flow Balligan's red card that Trump, yeah asked, asked FIFA 369 00:19:25,000 --> 00:19:28,040 Speaker 12: to review. There All of the things that could have 370 00:19:28,080 --> 00:19:30,679 Speaker 12: gone wrong didn't like you think about, and which is 371 00:19:30,880 --> 00:19:32,919 Speaker 12: kind of crazy that we're talking about this now, but 372 00:19:33,560 --> 00:19:36,679 Speaker 12: the shootings that have happened with Ice recently are happening 373 00:19:36,760 --> 00:19:39,280 Speaker 12: on the tail end of the tournament in cities that 374 00:19:39,359 --> 00:19:41,560 Speaker 12: are not host cities. If this had happened in the 375 00:19:41,600 --> 00:19:43,520 Speaker 12: host cities, it would be a completely different issue and 376 00:19:43,560 --> 00:19:46,720 Speaker 12: it would be highly politicized. The most political thing of 377 00:19:46,720 --> 00:19:50,520 Speaker 12: this World Cup has been President Trump in the red card. 378 00:19:50,720 --> 00:19:53,480 Speaker 4: Let's talk about that and I let's also talk about 379 00:19:53,640 --> 00:19:55,000 Speaker 4: VAR because you said you. 380 00:19:54,960 --> 00:19:56,439 Speaker 5: Said there's been no medal. 381 00:19:56,520 --> 00:19:57,520 Speaker 3: Let me explain what that is. 382 00:19:57,640 --> 00:20:01,880 Speaker 4: Yeah, that's the video assisted referee, basically the use of. 383 00:20:02,440 --> 00:20:07,040 Speaker 13: Robot referee technology, both instant replay and and some sort 384 00:20:07,080 --> 00:20:11,840 Speaker 13: of very interesting uses of technology to double check uh 385 00:20:12,119 --> 00:20:15,040 Speaker 13: or and in some cases overturn decisions that are made 386 00:20:15,080 --> 00:20:15,480 Speaker 13: on the field. 387 00:20:16,320 --> 00:20:17,440 Speaker 5: I've been watching this with. 388 00:20:17,400 --> 00:20:20,040 Speaker 4: A lot of interest, but one way where I do 389 00:20:20,080 --> 00:20:23,120 Speaker 4: feel like FIFA has sort of come up a little 390 00:20:23,119 --> 00:20:25,760 Speaker 4: bit short is on the use of VAR and its 391 00:20:25,800 --> 00:20:29,119 Speaker 4: ability to explain this stuff. They put a chip in 392 00:20:29,160 --> 00:20:31,160 Speaker 4: the ball, They've got all this tech. This is I'm 393 00:20:31,200 --> 00:20:35,320 Speaker 4: just gonna play a quick clip from the Belgium US game. 394 00:20:35,640 --> 00:20:39,000 Speaker 4: This was a disputed foul involving Fuller and Balligan. Who's 395 00:20:39,000 --> 00:20:40,040 Speaker 4: the US striker? 396 00:20:40,560 --> 00:20:43,240 Speaker 5: This is what the final decision is, potential game changing moment, 397 00:20:45,960 --> 00:20:51,960 Speaker 5: the number threat in United the States. Yes, it's gonna 398 00:20:51,960 --> 00:20:53,000 Speaker 5: be a red card. 399 00:20:53,160 --> 00:20:55,200 Speaker 6: This is red card. 400 00:20:55,600 --> 00:20:55,840 Speaker 9: Wow. 401 00:20:58,840 --> 00:20:59,800 Speaker 3: Kind card means you're. 402 00:20:59,640 --> 00:21:02,040 Speaker 4: Out of the right Yeah, red car means you're out 403 00:21:02,040 --> 00:21:03,879 Speaker 4: of there for those who don't know. And a huge, 404 00:21:04,119 --> 00:21:06,560 Speaker 4: huge swing in the game, because not only did they 405 00:21:06,640 --> 00:21:09,400 Speaker 4: throw Ballagan out of the game, but the US then 406 00:21:09,440 --> 00:21:13,199 Speaker 4: had to play with one man fewer, so a potential 407 00:21:13,359 --> 00:21:17,880 Speaker 4: game changing decision. Luckily for the United States, A very 408 00:21:17,920 --> 00:21:24,600 Speaker 4: important US soccer fan was watching this game, and yeah, 409 00:21:24,640 --> 00:21:27,200 Speaker 4: and he decided to do something about it. 410 00:21:27,560 --> 00:21:30,840 Speaker 9: So I saw the play, and I'm a person that 411 00:21:30,960 --> 00:21:34,719 Speaker 9: loves sports and who was a good athlete, and I 412 00:21:34,800 --> 00:21:39,760 Speaker 9: understand sports really well, really well. And that wasn't a foul. 413 00:21:40,720 --> 00:21:43,719 Speaker 9: That wasn't even an infraction. There was two guys running 414 00:21:43,760 --> 00:21:47,000 Speaker 9: full speed that happened to crash into each other. You 415 00:21:47,040 --> 00:21:49,719 Speaker 9: can't take your foot and properly place it on somebody 416 00:21:49,720 --> 00:21:53,600 Speaker 9: else's foot when you're going. No, these were two great 417 00:21:53,640 --> 00:22:00,520 Speaker 9: athletes that got tangled up. And this referee, who. 418 00:22:01,960 --> 00:22:03,159 Speaker 5: There's a little bit suspect. 419 00:22:03,440 --> 00:22:06,880 Speaker 2: I feel like this is like every sports fan throughout history, 420 00:22:07,240 --> 00:22:10,159 Speaker 2: but actually with power, like everyone's like, that wasn't a foul. 421 00:22:10,200 --> 00:22:13,520 Speaker 5: What is this referee? The thing is Okay, first of all, 422 00:22:14,000 --> 00:22:15,080 Speaker 5: Trump's kind of right. 423 00:22:15,320 --> 00:22:19,119 Speaker 4: I mean, so the video assistant referee reviews this clip, 424 00:22:19,240 --> 00:22:22,960 Speaker 4: slows it down, makes a judgment about baligan, and you 425 00:22:22,960 --> 00:22:25,199 Speaker 4: would think, okay, that's the end of it. But no, 426 00:22:25,720 --> 00:22:28,480 Speaker 4: because Donald Trump calls by his own as we just 427 00:22:28,520 --> 00:22:33,320 Speaker 4: heard calls Gihannny Infantino, the head of FIFA complains and 428 00:22:33,359 --> 00:22:37,359 Speaker 4: then what Randle a couple of hours later, a day later, in. 429 00:22:37,520 --> 00:22:40,600 Speaker 8: A policy within FIFA's rule book, is. 430 00:22:40,760 --> 00:22:42,840 Speaker 5: That no one ever knew about Article twenty seven. 431 00:22:43,040 --> 00:22:46,000 Speaker 12: Right, and now Balagan is able to play. And I 432 00:22:46,040 --> 00:22:50,600 Speaker 12: think the overall conversation about VAR is multi layered, because 433 00:22:50,640 --> 00:22:53,959 Speaker 12: you are right, technology is it is good to use 434 00:22:54,000 --> 00:22:56,760 Speaker 12: it in sports. We've seen the NBA implement reviews. We've 435 00:22:56,760 --> 00:23:00,000 Speaker 12: seen the MLB their usage of technology has been brilliant. 436 00:23:00,280 --> 00:23:02,359 Speaker 12: We've seen the NFL do a bunch of these things. 437 00:23:02,560 --> 00:23:06,600 Speaker 12: A good portion of these things have enhanced the game, however, 438 00:23:07,359 --> 00:23:09,120 Speaker 12: and this isn't the only one with flow ball. Again, 439 00:23:09,200 --> 00:23:14,000 Speaker 12: there's also the match between Argentina and Egypt where Egypt 440 00:23:14,040 --> 00:23:16,760 Speaker 12: scores on a counter attack and the goal is reversed 441 00:23:16,840 --> 00:23:19,840 Speaker 12: one hundred yards back. Now, granted, Egypt scored the exact 442 00:23:19,880 --> 00:23:22,000 Speaker 12: same way a couple of minutes later and they went 443 00:23:22,080 --> 00:23:24,320 Speaker 12: up to ultimately losing the Argentina. 444 00:23:24,080 --> 00:23:28,520 Speaker 4: But Croatia, Ghana, also Switzerland Argentina. There have been a 445 00:23:28,560 --> 00:23:31,720 Speaker 4: few of these where like the VAR is sort of right, 446 00:23:32,200 --> 00:23:34,880 Speaker 4: but it feels like the implementation is. 447 00:23:34,800 --> 00:23:36,040 Speaker 8: Off right exactly. 448 00:23:36,080 --> 00:23:39,920 Speaker 12: And so in Flow's case, it's very clearly an accident. 449 00:23:40,119 --> 00:23:43,520 Speaker 12: And I think that there is a difference between accidental 450 00:23:43,640 --> 00:23:47,320 Speaker 12: contact between carelessness and putting someone in danger, but the 451 00:23:47,400 --> 00:23:50,959 Speaker 12: rules don't state that, and so the problem really is 452 00:23:50,960 --> 00:23:52,760 Speaker 12: the fact that it's not written in the rules. 453 00:23:53,920 --> 00:23:54,120 Speaker 5: Right. 454 00:23:54,320 --> 00:23:57,600 Speaker 12: As an organization who creates the laws, you are supposed 455 00:23:57,600 --> 00:23:58,560 Speaker 12: to abide by them. 456 00:23:58,880 --> 00:23:59,879 Speaker 5: Why doesn't it matter? 457 00:24:00,359 --> 00:24:02,480 Speaker 4: I mean, the thing that I find so crazy about 458 00:24:02,480 --> 00:24:06,639 Speaker 4: this is you had this, like this obvious sort of 459 00:24:06,760 --> 00:24:09,720 Speaker 4: rule change or finding a rule that had never been 460 00:24:09,760 --> 00:24:13,320 Speaker 4: implemented before to give the US, the tournament host, you know, 461 00:24:13,359 --> 00:24:16,160 Speaker 4: an advantage in the game. And as you said, Belgium 462 00:24:16,160 --> 00:24:18,840 Speaker 4: one and one handily, and in the end it didn't 463 00:24:18,880 --> 00:24:21,800 Speaker 4: really matter. But it's kind of surprising to me that 464 00:24:21,920 --> 00:24:25,600 Speaker 4: fans are not turned off. It's almost like the corruption 465 00:24:25,720 --> 00:24:28,040 Speaker 4: is part of the sport. It's I think controversy is 466 00:24:28,080 --> 00:24:31,560 Speaker 4: a part of sports. Yeah, and var is controversial. 467 00:24:32,119 --> 00:24:36,840 Speaker 12: I would also say that fans in Belgium in the US, 468 00:24:36,880 --> 00:24:41,080 Speaker 12: it was just corrected very quickly in the worst way possible, 469 00:24:41,480 --> 00:24:43,160 Speaker 12: because Trump was like, oh, you know, if we lose, 470 00:24:43,200 --> 00:24:45,399 Speaker 12: it's going it's corrupt, and it was rigged and all 471 00:24:45,400 --> 00:24:46,080 Speaker 12: these different things. 472 00:24:46,080 --> 00:24:49,080 Speaker 5: He he was going full January sixth on the world But. 473 00:24:49,480 --> 00:24:53,119 Speaker 8: We lost so handedly that there was no dispute. 474 00:24:53,200 --> 00:24:56,800 Speaker 12: Like you think about the array of events that took place. 475 00:24:56,840 --> 00:24:59,680 Speaker 12: Belgium scores first, the US scores on a tremendous free kick. 476 00:25:00,080 --> 00:25:02,240 Speaker 12: Belgium scores a minute after that, and then there's a 477 00:25:02,280 --> 00:25:04,119 Speaker 12: mistake by the goalkeeper. Now it's three to one, and 478 00:25:04,160 --> 00:25:06,720 Speaker 12: then to top it all off, you have an exclamation 479 00:25:06,800 --> 00:25:09,359 Speaker 12: point that is put on this when another Belgium player 480 00:25:09,359 --> 00:25:11,520 Speaker 12: scores and makes it for one. They left no doubt 481 00:25:11,520 --> 00:25:13,639 Speaker 12: in the mind, in their minds, and I would argue 482 00:25:13,680 --> 00:25:16,760 Speaker 12: that Trump ignited them, that they brought them together and like, 483 00:25:16,760 --> 00:25:18,920 Speaker 12: you know what, we're going to embarrass them, and they did, 484 00:25:19,040 --> 00:25:21,800 Speaker 12: like after they scored that last goal, they were doing. 485 00:25:21,640 --> 00:25:23,159 Speaker 8: The Trump dance, And that's crazy. 486 00:25:23,240 --> 00:25:25,280 Speaker 4: If we have the Women's World Cup next year in Brazil, 487 00:25:25,760 --> 00:25:28,600 Speaker 4: Men's World Cup four years from now, my question for you, 488 00:25:28,720 --> 00:25:32,800 Speaker 4: Randall is how is FIFA gonna squeeze even more juice 489 00:25:33,280 --> 00:25:35,600 Speaker 4: out of this? Like they went up from thirty two 490 00:25:35,640 --> 00:25:38,800 Speaker 4: teams to forty eight teams. They made all these changes 491 00:25:38,880 --> 00:25:42,040 Speaker 4: this World Cup to like basically get as much money 492 00:25:42,080 --> 00:25:43,040 Speaker 4: out of this thing as possible. 493 00:25:43,080 --> 00:25:46,639 Speaker 5: They added a freaking commercial break in the middle of soccer, 494 00:25:46,640 --> 00:25:48,920 Speaker 5: which is something that doesn't happen. How is FIFA gonna 495 00:25:48,920 --> 00:25:49,640 Speaker 5: make even more money? 496 00:25:49,680 --> 00:25:52,560 Speaker 12: So I would anticipate that the water breaks will stay, 497 00:25:53,440 --> 00:25:54,359 Speaker 12: and I think that. 498 00:25:58,880 --> 00:25:59,880 Speaker 8: They are commercial breaks. 499 00:26:01,000 --> 00:26:03,040 Speaker 12: I think that they will stay and the broadcasters will 500 00:26:03,040 --> 00:26:05,320 Speaker 12: be very happy about it. And Gianni's also talked about 501 00:26:05,320 --> 00:26:07,000 Speaker 12: expanding this tournament to sixty fourteen. 502 00:26:07,119 --> 00:26:07,800 Speaker 5: I love it now. 503 00:26:07,920 --> 00:26:11,040 Speaker 12: The question there is like how many group stage matches 504 00:26:11,080 --> 00:26:13,960 Speaker 12: become pointless to a certain degree, because there were a 505 00:26:13,960 --> 00:26:16,639 Speaker 12: lot of fun matches and I enjoy being able to 506 00:26:16,680 --> 00:26:21,120 Speaker 12: watch every single match. However, when the Cinderella stories are 507 00:26:21,560 --> 00:26:24,480 Speaker 12: essentially reached ashore in the round of thirty two and 508 00:26:24,520 --> 00:26:26,840 Speaker 12: they don't make it to the further rounds, the bigger 509 00:26:26,920 --> 00:26:30,240 Speaker 12: nations are probably like, this is exhausting, but FIFA doesn't care. 510 00:26:30,560 --> 00:26:32,960 Speaker 12: The question is going to be who can host, Like 511 00:26:33,080 --> 00:26:36,639 Speaker 12: we're talking about Spain, Portugal and Morocco in twenty thirty 512 00:26:36,680 --> 00:26:39,160 Speaker 12: After that it'll be Saudi Arabia. There's an open slot 513 00:26:39,200 --> 00:26:40,160 Speaker 12: in twenty thirty eight that. 514 00:26:40,200 --> 00:26:41,480 Speaker 5: I would it's going to be. 515 00:26:42,200 --> 00:26:43,800 Speaker 12: I would guess that the US is going to host 516 00:26:43,800 --> 00:26:46,639 Speaker 12: it because of our facilities here in the stadiums. But 517 00:26:47,240 --> 00:26:49,720 Speaker 12: after that, there are just not a lot of nations 518 00:26:49,760 --> 00:26:52,240 Speaker 12: that have that many stadiums. 519 00:26:52,280 --> 00:26:55,680 Speaker 2: Is it bigger than the Olympics, the World Cup? Yeah? 520 00:26:55,840 --> 00:26:57,320 Speaker 2: Like facilities wise. 521 00:26:58,000 --> 00:27:00,159 Speaker 12: Yeah, I mean I would say so because of the 522 00:27:00,240 --> 00:27:02,840 Speaker 12: fact that it's all stadiums. They have a minimum requirement 523 00:27:02,920 --> 00:27:05,960 Speaker 12: for the number of people. With the number of people 524 00:27:06,000 --> 00:27:07,480 Speaker 12: that can be hosted in the stadium, I believe it 525 00:27:07,520 --> 00:27:10,720 Speaker 12: was forty thousand. So you expand that, that opens up 526 00:27:10,760 --> 00:27:13,320 Speaker 12: more cities. There's going to be a lot of people interested. 527 00:27:13,320 --> 00:27:15,440 Speaker 12: There will be brand new stadiums. You think of Nashville, 528 00:27:15,480 --> 00:27:17,760 Speaker 12: you think of Vegas, you think of Washington, d C. 529 00:27:18,160 --> 00:27:20,760 Speaker 12: For example. Now I think the security concerns there would 530 00:27:20,760 --> 00:27:24,920 Speaker 12: be heightened, But it's a money generator for these teams. 531 00:27:24,960 --> 00:27:28,560 Speaker 12: These billionaires and billionaires love to make money, including Jianni, 532 00:27:28,640 --> 00:27:31,520 Speaker 12: who I imagine will someday be a billionaire. 533 00:27:31,880 --> 00:27:33,359 Speaker 8: And FIFA is not going to stop. 534 00:27:33,400 --> 00:27:35,560 Speaker 12: They're going to continue to try to figure out ways 535 00:27:35,600 --> 00:27:38,120 Speaker 12: to make money and we're going to keep putting money 536 00:27:38,160 --> 00:27:39,600 Speaker 12: in their pockets because we're going to keep watching. 537 00:27:39,920 --> 00:27:41,560 Speaker 5: Randall Williams, thank you so much. 538 00:27:41,760 --> 00:27:42,879 Speaker 8: Appreciate you all forever me. 539 00:27:50,000 --> 00:27:53,320 Speaker 2: All right, Dina Shanker, you've come to us with an answer. 540 00:27:53,400 --> 00:27:57,199 Speaker 2: I don't know what it is. I'm very excited to 541 00:27:57,200 --> 00:27:59,439 Speaker 2: hear from you, and thank you for joining us on 542 00:27:59,480 --> 00:28:03,480 Speaker 2: our cloud roborative journey about trisc its. 543 00:28:03,560 --> 00:28:06,600 Speaker 1: So I should start by since I mentioned Aldi in 544 00:28:06,640 --> 00:28:10,000 Speaker 1: the in the call, I should say Aldi did not 545 00:28:10,240 --> 00:28:13,920 Speaker 1: have information that they shared with me, so okay. And 546 00:28:13,960 --> 00:28:19,840 Speaker 1: in fact, the companies that sell these private label products, 547 00:28:20,240 --> 00:28:22,400 Speaker 1: they either didn't get back to me or they told 548 00:28:22,400 --> 00:28:24,399 Speaker 1: me we don't comment on supply or. 549 00:28:24,320 --> 00:28:26,360 Speaker 5: The woven wheat wall of silence. 550 00:28:26,400 --> 00:28:28,120 Speaker 1: You're saying, that's exactly right. 551 00:28:28,240 --> 00:28:32,639 Speaker 3: This sounds like it's going deeper. But I have other sources. 552 00:28:33,440 --> 00:28:38,360 Speaker 1: So what I heard from a source who I trust? 553 00:28:38,720 --> 00:28:41,080 Speaker 2: Is this an anonymous source? You had to go to 554 00:28:41,160 --> 00:28:42,240 Speaker 2: an anonymous source? 555 00:28:42,520 --> 00:28:46,360 Speaker 1: Well, he's this person is not anonymous to me. I 556 00:28:46,400 --> 00:28:47,440 Speaker 1: know who this first is. 557 00:28:47,720 --> 00:28:49,560 Speaker 3: We went deep throat with triskts. 558 00:28:49,640 --> 00:28:53,280 Speaker 4: But you know what, private label brands are very in 559 00:28:53,320 --> 00:28:55,720 Speaker 4: grocery stores can be very secretive about this stuff, as 560 00:28:55,760 --> 00:28:56,640 Speaker 4: Dina knows. 561 00:28:57,160 --> 00:29:00,080 Speaker 1: Yeah, oh yeah, I mean, actually it's pretty crazy how 562 00:29:00,160 --> 00:29:04,200 Speaker 1: much sometimes like the private label version is actually made 563 00:29:04,320 --> 00:29:07,680 Speaker 1: by the uh, the actual. 564 00:29:07,480 --> 00:29:08,960 Speaker 3: Like branded manufacturer. 565 00:29:09,160 --> 00:29:11,240 Speaker 1: That does not seem to be the case with trisckets, 566 00:29:11,280 --> 00:29:14,120 Speaker 1: but like that can very well be the case that like. 567 00:29:14,040 --> 00:29:17,040 Speaker 3: Okay, what did Deep Throat say? So here's what we got. 568 00:29:17,320 --> 00:29:22,120 Speaker 1: Basically, there was one manufacturer of all of the private 569 00:29:22,200 --> 00:29:26,560 Speaker 1: label triskets. One company was doing it and they're not 570 00:29:26,680 --> 00:29:27,560 Speaker 1: doing it anymore? 571 00:29:28,760 --> 00:29:29,120 Speaker 3: Why not? 572 00:29:30,400 --> 00:29:35,640 Speaker 1: So what I was told was that it basically like 573 00:29:35,920 --> 00:29:38,480 Speaker 1: essentially like this wasn't a line of business that made 574 00:29:38,480 --> 00:29:40,520 Speaker 1: sense for them, is where I'll leave it. 575 00:29:40,600 --> 00:29:42,880 Speaker 3: Did wheat prices go up too much or something? 576 00:29:43,200 --> 00:29:43,360 Speaker 6: You know? 577 00:29:43,360 --> 00:29:46,720 Speaker 1: It's funny because I looked at wheat prices, and wheat 578 00:29:46,720 --> 00:29:49,560 Speaker 1: prices have the wheat futures looked like they were all 579 00:29:49,560 --> 00:29:51,520 Speaker 1: over the place. They're a little high now, but they're 580 00:29:51,560 --> 00:29:54,960 Speaker 1: not at their highest, so I don't think it's wheat prices. 581 00:29:55,120 --> 00:30:00,880 Speaker 1: I'm not really sure exactly why this no longer worked 582 00:30:00,920 --> 00:30:04,560 Speaker 1: from a business perspective for this private label manufacturer, but 583 00:30:06,040 --> 00:30:09,480 Speaker 1: now nobody's got them. And I will say, I also 584 00:30:09,920 --> 00:30:13,080 Speaker 1: like trisc its and I also like the private label. 585 00:30:14,160 --> 00:30:17,240 Speaker 1: So I'm pretty bummed because I actually used to buy 586 00:30:17,280 --> 00:30:17,800 Speaker 1: a lot of. 587 00:30:17,720 --> 00:30:20,080 Speaker 3: These when I went to all these for my ald story. 588 00:30:20,280 --> 00:30:22,360 Speaker 1: This was like a regular purchase for me, was I 589 00:30:22,400 --> 00:30:25,600 Speaker 1: would get the private because they really do taste the same. 590 00:30:25,960 --> 00:30:29,280 Speaker 4: Now, Dina, is it possible that intellectual property plays a 591 00:30:29,360 --> 00:30:29,840 Speaker 4: role here? 592 00:30:30,040 --> 00:30:30,959 Speaker 5: I mean, I don't know. 593 00:30:31,160 --> 00:30:33,800 Speaker 4: I don't know if you can copyright a triscuit or whatever, 594 00:30:33,840 --> 00:30:37,680 Speaker 4: but there have been lawsuits around private label or disputes 595 00:30:37,720 --> 00:30:39,920 Speaker 4: around private label products in the past. 596 00:30:41,320 --> 00:30:43,000 Speaker 5: Any sign of that going on here. 597 00:30:43,440 --> 00:30:46,160 Speaker 1: So I believe that you cannot that there is no 598 00:30:46,280 --> 00:30:50,520 Speaker 1: IP in a recipe, got it? And so I don't think. 599 00:30:50,440 --> 00:30:52,840 Speaker 3: That that is what it's about. 600 00:30:52,840 --> 00:30:57,720 Speaker 1: Especially because Mandali is the original maker of triscuts, which 601 00:30:58,040 --> 00:31:02,960 Speaker 1: sued Aldy for cos being some of their products, most 602 00:31:03,200 --> 00:31:08,640 Speaker 1: notably the Oreo product. Like, those products are still very 603 00:31:08,760 --> 00:31:13,720 Speaker 1: much available, so it's not like all the Mandalese copycatted 604 00:31:13,920 --> 00:31:17,360 Speaker 1: versions are gone. As far as I could tell, it 605 00:31:17,400 --> 00:31:19,520 Speaker 1: seems like this is very trisk Its. 606 00:31:19,320 --> 00:31:23,479 Speaker 2: Specific, Okay, just not money in trist gits anymore in 607 00:31:23,560 --> 00:31:25,040 Speaker 2: off brand trist Its. 608 00:31:25,360 --> 00:31:25,600 Speaker 6: Yeah. 609 00:31:25,600 --> 00:31:27,720 Speaker 1: I mean you either have to decide to like just 610 00:31:27,800 --> 00:31:30,880 Speaker 1: like spend the extra money on the Mandalize version, or like, 611 00:31:31,000 --> 00:31:33,760 Speaker 1: try more crackers. There's lots of crackers out there, lots 612 00:31:33,880 --> 00:31:35,000 Speaker 1: of crackers out there. 613 00:31:35,280 --> 00:31:37,360 Speaker 3: Well, that is a word of comfort. 614 00:31:37,560 --> 00:31:38,239 Speaker 5: They have it. 615 00:31:39,640 --> 00:31:41,680 Speaker 3: Yeah, try different crackers. 616 00:31:43,800 --> 00:31:44,040 Speaker 9: I know. 617 00:31:44,360 --> 00:31:44,920 Speaker 3: I hate that. 618 00:31:44,920 --> 00:31:47,320 Speaker 2: That's I hate that that that we don't have better 619 00:31:47,400 --> 00:31:48,120 Speaker 2: news for Julio. 620 00:31:48,320 --> 00:31:52,440 Speaker 4: We gotta thank Julio for writing in with this question. 621 00:31:52,720 --> 00:31:54,160 Speaker 5: Everybody's at Bloomberg Dynat. 622 00:31:54,240 --> 00:31:56,680 Speaker 4: That's everybody's with an ass at Blueberg dynam She will 623 00:31:56,720 --> 00:31:58,960 Speaker 4: be happy she drop what she's doing. 624 00:31:59,360 --> 00:32:02,800 Speaker 2: Yeah, and Granular, the better you don't. 625 00:32:03,000 --> 00:32:05,040 Speaker 5: And it doesn't just have to be related to food. 626 00:32:05,560 --> 00:32:09,600 Speaker 4: We are interested in in any potential conspiracies or mysteries 627 00:32:09,600 --> 00:32:11,360 Speaker 4: that you might you may want us to run down. 628 00:32:11,960 --> 00:32:14,800 Speaker 5: We will do our best to be a little careful man. 629 00:32:15,000 --> 00:32:17,600 Speaker 1: I mean, if people are like, what is the best 630 00:32:17,680 --> 00:32:20,520 Speaker 1: chocolate bar out there, Dina, we need you to go 631 00:32:20,680 --> 00:32:21,960 Speaker 1: like try them all. 632 00:32:23,560 --> 00:32:25,200 Speaker 2: I feel like that would need to be a team 633 00:32:25,240 --> 00:32:33,120 Speaker 2: effort because it's so comp so complic objective. Yeah uh, Dina, 634 00:32:33,160 --> 00:32:36,160 Speaker 2: we can thank you enough, and please thank your anonymous 635 00:32:36,200 --> 00:32:38,960 Speaker 2: source for talking triskets. 636 00:32:39,600 --> 00:32:41,000 Speaker 1: Thank you guys so much. 637 00:32:41,680 --> 00:32:44,800 Speaker 2: This is the kind of deep, intrepid reporting that we 638 00:32:44,960 --> 00:32:51,440 Speaker 2: like to think of as our signature here at Everybody's Business. 639 00:32:50,120 --> 00:33:00,400 Speaker 3: Thanks, thanks Dina. This show is produced by jazz and JT. 640 00:33:00,560 --> 00:33:01,680 Speaker 3: Green and Stacy Wong. 641 00:33:01,880 --> 00:33:05,760 Speaker 2: Magnus Hendrickson is our supervising producer, Sam Roga, Chandel's engineering 642 00:33:05,800 --> 00:33:09,520 Speaker 2: and Dave Purcell factchecks. Special thanks to Jeff Muscus, Julia 643 00:33:09,560 --> 00:33:12,040 Speaker 2: Rubin and Maria Lynk. If you have a minute, please 644 00:33:12,120 --> 00:33:14,440 Speaker 2: rate and review the show. It means a lot to us. 645 00:33:14,880 --> 00:33:16,800 Speaker 2: And if you have a story that should be our business, 646 00:33:16,840 --> 00:33:20,600 Speaker 2: email us. Everybody's at Bloomberg dot net. That's everybody's with 647 00:33:20,640 --> 00:33:22,000 Speaker 2: an US at Bloomberg dot net. 648 00:33:22,040 --> 00:33:23,040 Speaker 5: We'll solve your mystery. 649 00:33:23,120 --> 00:33:26,320 Speaker 2: We'll get Dina Shanker on the case. Thank you so 650 00:33:26,400 --> 00:33:28,520 Speaker 2: much for listening, and we will see you next week.