1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:55,240 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 15 00:00:55,400 --> 00:00:57,840 Speaker 1: border and families will be protected. 16 00:00:57,920 --> 00:01:00,000 Speaker 2: Sponsored by the United States Department of Homeland Security. 17 00:01:00,200 --> 00:01:07,600 Speaker 3: Let's talk about Charlemagne the God HM shout out Charlomagne 18 00:01:07,680 --> 00:01:11,440 Speaker 3: the God Show. So it's what do you think of 19 00:01:11,600 --> 00:01:17,280 Speaker 3: Charlemagne's prediction that media companies are dying in this era 20 00:01:18,120 --> 00:01:24,160 Speaker 3: and there will eventually only be two main streaming companies 21 00:01:24,200 --> 00:01:26,399 Speaker 3: that will remain after the collapse. 22 00:01:27,720 --> 00:01:28,759 Speaker 4: Yeah, this is something him. 23 00:01:28,600 --> 00:01:31,399 Speaker 5: And show has talked about on Brilliant Idiots, and I 24 00:01:31,560 --> 00:01:35,680 Speaker 5: posted it this past weekend. Going back to the actors strike, 25 00:01:35,800 --> 00:01:38,800 Speaker 5: I think one of the things that is not talked 26 00:01:38,800 --> 00:01:43,080 Speaker 5: about enough and that they brought up is that the 27 00:01:43,120 --> 00:01:46,400 Speaker 5: profitability is not there how everyone thinks. I know Joe, 28 00:01:46,480 --> 00:01:49,800 Speaker 5: when he was in the spotiations, he asked a brilliant 29 00:01:49,880 --> 00:01:52,040 Speaker 5: question that never got answered, which was what is the 30 00:01:52,120 --> 00:01:57,240 Speaker 5: value of a stream? And Spotify never gave that answer 31 00:01:57,800 --> 00:01:59,680 Speaker 5: for a multitude of reasons. I think a lot of 32 00:01:59,680 --> 00:02:03,960 Speaker 5: these companies are in a bad position because they are 33 00:02:03,960 --> 00:02:06,880 Speaker 5: not as profitable and they just spend too much money 34 00:02:06,880 --> 00:02:09,000 Speaker 5: on content, Like it's a horrible model to make a 35 00:02:09,040 --> 00:02:12,079 Speaker 5: show for one hundred million dollars and expected to make 36 00:02:12,120 --> 00:02:14,440 Speaker 5: the money back fourteen dollars or nine dollars at a time. 37 00:02:15,280 --> 00:02:16,679 Speaker 4: I don't know if there will be two. 38 00:02:18,320 --> 00:02:20,480 Speaker 5: Players only, but I think there will be a big four, 39 00:02:20,600 --> 00:02:23,799 Speaker 5: as there is in most businesses. I think it'll eventually 40 00:02:23,880 --> 00:02:28,519 Speaker 5: just be Apple, Netflix, Hulu and maybe one player. 41 00:02:28,560 --> 00:02:31,440 Speaker 4: But like this proliferation of a whole bunch of streaming apps. 42 00:02:32,080 --> 00:02:34,000 Speaker 5: The margins are not there, and we see it as 43 00:02:34,040 --> 00:02:38,679 Speaker 5: reflective in Disney wanting to get rid of ESPN that're 44 00:02:38,720 --> 00:02:41,440 Speaker 5: making Leus Star Wars content. They want to get rid 45 00:02:41,480 --> 00:02:45,160 Speaker 5: of Marvel. So if you're telling me that the best 46 00:02:45,160 --> 00:02:49,919 Speaker 5: media brand in American history is selling off arguably one 47 00:02:49,919 --> 00:02:53,640 Speaker 5: of the best sports brands, the best cartoon brand, and 48 00:02:53,639 --> 00:02:56,079 Speaker 5: the best sci fi brand, you can't tell me the 49 00:02:56,120 --> 00:02:58,600 Speaker 5: Spotify is fucking crushing it. 50 00:02:58,600 --> 00:02:59,640 Speaker 4: It's impossible. 51 00:03:00,040 --> 00:03:04,320 Speaker 5: And it's a conversation that, like we've had before, and 52 00:03:04,560 --> 00:03:06,720 Speaker 5: I always ask the question if I was given one 53 00:03:06,720 --> 00:03:10,120 Speaker 5: point two billion dollars to build a podcast division and 54 00:03:10,160 --> 00:03:12,040 Speaker 5: the only hit I got out of it was Joe 55 00:03:12,080 --> 00:03:16,800 Speaker 5: Rogan and Will Smith did twelve episodes and Megan and 56 00:03:16,840 --> 00:03:20,720 Speaker 5: Harry did fifteen episodes and then they just walked off. 57 00:03:20,720 --> 00:03:23,720 Speaker 5: How Rick Ross did on eighty five South, what would 58 00:03:23,760 --> 00:03:27,000 Speaker 5: I be called? And it was just some kind of 59 00:03:27,000 --> 00:03:29,079 Speaker 5: blunder for Daniel at Spotify. And I don't have any 60 00:03:29,120 --> 00:03:32,200 Speaker 5: issue with day. I think he's an amazing CEO. But 61 00:03:32,320 --> 00:03:34,480 Speaker 5: I think the truth is going to be told and 62 00:03:34,560 --> 00:03:36,760 Speaker 5: maybe a year or two about the majority of these 63 00:03:36,800 --> 00:03:39,760 Speaker 5: media companies, and I keep saying that. I ask you guys, 64 00:03:39,880 --> 00:03:43,560 Speaker 5: as Charlotte Maine, that's Joe shows how many people may 65 00:03:43,680 --> 00:03:44,840 Speaker 5: are making a million. 66 00:03:44,640 --> 00:03:48,200 Speaker 4: Dollars more from podcasting or media. Not many. 67 00:03:48,680 --> 00:03:53,120 Speaker 5: If the numbers were so insane that a talent was 68 00:03:53,200 --> 00:03:55,800 Speaker 5: drawn in forty and fifty million dollars a year from 69 00:03:55,800 --> 00:03:58,560 Speaker 5: that show, it'll be easy to pay him a million dollars. 70 00:03:58,720 --> 00:04:00,360 Speaker 5: The reason why there aren't a lot of making a 71 00:04:00,400 --> 00:04:02,040 Speaker 5: million dollars plus in the space. 72 00:04:01,840 --> 00:04:03,440 Speaker 4: Is because they don't draw that much value. 73 00:04:03,960 --> 00:04:06,120 Speaker 5: And I think we're seeing it as scale as we 74 00:04:06,160 --> 00:04:09,280 Speaker 5: are in a recession that they will not announce the 75 00:04:09,320 --> 00:04:12,040 Speaker 5: most media properties are not doing as well as we think. 76 00:04:13,920 --> 00:04:17,000 Speaker 2: Uh Man, that was well said. That was well said. 77 00:04:17,680 --> 00:04:20,880 Speaker 6: He's onto something and he's pretty accurate when when I 78 00:04:20,880 --> 00:04:23,560 Speaker 6: looked at it from in terms of it's like the 79 00:04:23,640 --> 00:04:26,760 Speaker 6: jay Z line, less is more right. So when we 80 00:04:26,800 --> 00:04:30,240 Speaker 6: watched Bob Iger speak, if you read it between the lines, 81 00:04:30,240 --> 00:04:32,120 Speaker 6: he's telling you the same thing. Less is morse when 82 00:04:32,120 --> 00:04:36,440 Speaker 6: he's saying like, yes, Pixar, we've missed. If we're gonna 83 00:04:36,440 --> 00:04:38,720 Speaker 6: be honest, we've missed on a bunch of movies. We're 84 00:04:38,720 --> 00:04:42,400 Speaker 6: gonna cut back on making those movies. Right, we had 85 00:04:42,560 --> 00:04:44,960 Speaker 6: Star Wars and you know, Lucas Films put out the 86 00:04:45,000 --> 00:04:46,279 Speaker 6: Knee Jones movie. 87 00:04:47,080 --> 00:04:48,080 Speaker 2: It didn't hit like we thought. 88 00:04:48,200 --> 00:04:49,560 Speaker 4: I didn't even know it came out. 89 00:04:51,440 --> 00:04:53,279 Speaker 2: It didn't hit like they thought it would. All right, 90 00:04:53,320 --> 00:04:54,440 Speaker 2: well we've got to scale back. 91 00:04:54,440 --> 00:04:56,920 Speaker 6: But I think the Marvel thing is the biggest one 92 00:04:56,960 --> 00:04:59,360 Speaker 6: because it was like, Okay, the movies did so well, 93 00:04:59,400 --> 00:05:02,200 Speaker 6: and that was leading up to the pandemic. But then 94 00:05:02,640 --> 00:05:05,719 Speaker 6: they started putting out shows that nobody watched. So we 95 00:05:05,839 --> 00:05:09,120 Speaker 6: have to cut back. The problem is that Disney's won. 96 00:05:09,200 --> 00:05:12,200 Speaker 6: But I mean all these streaming services Netflix, even to 97 00:05:12,200 --> 00:05:16,920 Speaker 6: a certain extent, they're they're accumulating debt with no real 98 00:05:17,480 --> 00:05:20,560 Speaker 6: concrete strategy of how to accumulate more revenue. 99 00:05:21,360 --> 00:05:22,920 Speaker 2: And that's that's the real issue, right. 100 00:05:22,920 --> 00:05:25,640 Speaker 6: So like when when Ires talking about, hey, yeah we 101 00:05:25,680 --> 00:05:28,400 Speaker 6: have ESPN, but you know these contracts that we have 102 00:05:28,480 --> 00:05:31,279 Speaker 6: with these leagues, they cost billions. How are we going 103 00:05:31,320 --> 00:05:33,160 Speaker 6: to pay for it? How do we keep them and 104 00:05:33,200 --> 00:05:36,320 Speaker 6: paid for it? And so reading between that is like, now, 105 00:05:36,440 --> 00:05:39,039 Speaker 6: who is the company that is going to partner to 106 00:05:39,160 --> 00:05:42,320 Speaker 6: purchase ESPN to have those rights, because I'm sure they'll 107 00:05:42,320 --> 00:05:45,640 Speaker 6: I'm sure Disney will want to stay involved in it somehow, 108 00:05:45,880 --> 00:05:49,039 Speaker 6: right because they own ABC and they caick and broadcast nationally. 109 00:05:49,760 --> 00:05:52,920 Speaker 6: So who becomes that Does it become an apple to say, okay, 110 00:05:53,040 --> 00:05:55,320 Speaker 6: we'll partner, we'll we'll take the sports division, we'll take 111 00:05:55,480 --> 00:05:58,840 Speaker 6: ESPN and we'll figure this out. Or and this was 112 00:05:58,880 --> 00:06:00,880 Speaker 6: an interesting one and I didn't even think of it. 113 00:06:01,760 --> 00:06:06,400 Speaker 6: What if a company like Fanatics decides that we are 114 00:06:06,440 --> 00:06:10,560 Speaker 6: now your sports partner. They already have the merchandising, yes, 115 00:06:10,920 --> 00:06:13,359 Speaker 6: but they don't have the network to do TV. 116 00:06:13,800 --> 00:06:16,039 Speaker 2: But what if you can bomb both of them? 117 00:06:16,360 --> 00:06:18,279 Speaker 6: Now it becomes interesting. And so we talked about Michael 118 00:06:18,279 --> 00:06:20,760 Speaker 6: Woman all the time. We've watched the networth of his 119 00:06:20,839 --> 00:06:22,920 Speaker 6: company grow. We watched a girl from two billion to 120 00:06:23,000 --> 00:06:26,080 Speaker 6: six billion. Now I think it's evaluated like twenty eight billion. 121 00:06:26,880 --> 00:06:29,200 Speaker 6: What if they now decide to partner because they already 122 00:06:29,200 --> 00:06:33,000 Speaker 6: have licensing deals with all the leagues for the merchandising. Now, 123 00:06:33,120 --> 00:06:36,039 Speaker 6: what if we package the lyrigandizing with the TV rights? 124 00:06:36,480 --> 00:06:38,160 Speaker 2: That becomes super interesting. 125 00:06:38,520 --> 00:06:40,560 Speaker 5: Great, you got a crystal ball. Great minds thinking like 126 00:06:40,640 --> 00:06:42,880 Speaker 5: you know, when they had that party. The first thing 127 00:06:42,920 --> 00:06:45,640 Speaker 5: I thought, this looks like the title rollout from ten 128 00:06:45,760 --> 00:06:49,440 Speaker 5: years ago. How do you get jay z lebron meek, 129 00:06:49,600 --> 00:06:53,680 Speaker 5: little baby getting hug from behind Paul's right to get 130 00:06:53,720 --> 00:06:56,599 Speaker 5: all those people in the same room at the same time. 131 00:06:56,720 --> 00:06:58,600 Speaker 5: You think they was there just to drink do s. 132 00:07:00,080 --> 00:07:02,599 Speaker 5: I'm like, damn, this looks like the title rollout but better. 133 00:07:03,880 --> 00:07:08,479 Speaker 5: And Jay's already infiltrated and took over sports. Robinson could 134 00:07:08,560 --> 00:07:10,080 Speaker 5: know you come up with me, he told y'all ten 135 00:07:10,160 --> 00:07:14,119 Speaker 5: years ago. Good put out the book A hole and say, Okay, 136 00:07:14,280 --> 00:07:16,960 Speaker 5: what would be best? Find a way for your talent 137 00:07:17,000 --> 00:07:19,400 Speaker 5: to be on TV that you own or network that 138 00:07:19,440 --> 00:07:20,200 Speaker 5: you own all the time. 139 00:07:20,200 --> 00:07:21,560 Speaker 4: I think it would be the next evolution. 140 00:07:22,080 --> 00:07:25,400 Speaker 5: So I definitely agree while everything is in recession, and 141 00:07:25,440 --> 00:07:28,600 Speaker 5: the other issue we don't have enough people that want 142 00:07:28,600 --> 00:07:30,800 Speaker 5: to be consumers when everybody wants to be a star. 143 00:07:33,000 --> 00:07:36,000 Speaker 3: Well, I think that also, it's a new age of media. 144 00:07:36,240 --> 00:07:39,800 Speaker 3: I think, like, who's really watching movies at a fast 145 00:07:39,840 --> 00:07:42,080 Speaker 3: paced these days? Like people? I know some people are 146 00:07:42,120 --> 00:07:44,520 Speaker 3: still to watch movies, but the vast majority I'm I'm 147 00:07:44,560 --> 00:07:47,920 Speaker 3: on my phone, I'm not really watching movies. So many 148 00:07:47,960 --> 00:07:50,600 Speaker 3: movies come out on Netflix that I've never seen, or 149 00:07:50,880 --> 00:07:54,559 Speaker 3: they come out on these weird streaming services to tube 150 00:07:55,880 --> 00:07:57,400 Speaker 3: not ain't even to be But I mean, let's just 151 00:07:57,400 --> 00:07:59,760 Speaker 3: be honest. Have you ever watched anything on Apple Plus? 152 00:08:00,040 --> 00:08:02,560 Speaker 3: Shot to Steph Curry's documentary just came up? But I 153 00:08:02,680 --> 00:08:05,080 Speaker 3: have to know it just is what it is. 154 00:08:05,280 --> 00:08:07,440 Speaker 4: I watched one interview with Oprah on there. 155 00:08:07,680 --> 00:08:10,600 Speaker 3: I've never watched one thing on Apple Plus. I probably 156 00:08:10,600 --> 00:08:12,000 Speaker 3: watched two things on Hulu. 157 00:08:12,480 --> 00:08:13,880 Speaker 4: Is on Apple Plus or No? 158 00:08:14,440 --> 00:08:15,920 Speaker 2: You know you said you don't consume TV. 159 00:08:15,800 --> 00:08:17,920 Speaker 3: Though, but I'm just saying I don't know anybody. I'm 160 00:08:17,920 --> 00:08:20,600 Speaker 3: still I'm in the loop. Nobody's watching Apple Plus. 161 00:08:20,600 --> 00:08:23,320 Speaker 2: People are watching Apple Plus. You don't consume it. 162 00:08:23,400 --> 00:08:25,480 Speaker 3: But we're gonna be honest. So we're just gonna be people. 163 00:08:25,560 --> 00:08:30,360 Speaker 6: I'm gonna tell you no, honest, honestly our people is 164 00:08:30,400 --> 00:08:31,000 Speaker 6: it Netflix? 165 00:08:31,160 --> 00:08:31,320 Speaker 4: No? 166 00:08:31,720 --> 00:08:34,079 Speaker 3: But people are consuming the contest. Do you know anybody 167 00:08:34,120 --> 00:08:35,960 Speaker 3: that watches Apple Plus on a regular you know me? 168 00:08:37,440 --> 00:08:39,800 Speaker 6: No, that's not that's not a fair assessment. I know you, 169 00:08:39,800 --> 00:08:41,880 Speaker 6: you know me, I've watched content on that. 170 00:08:42,240 --> 00:08:44,400 Speaker 4: Everybody is fudging the numbers and streaming. 171 00:08:45,240 --> 00:08:45,920 Speaker 2: That's true too. 172 00:08:47,040 --> 00:08:48,320 Speaker 3: It's not passing the eye text. 173 00:08:48,520 --> 00:08:50,640 Speaker 2: Both things are not passing it. Both things are true. 174 00:08:50,760 --> 00:08:53,360 Speaker 3: It's not passing, Like you said, just get cost money 175 00:08:53,400 --> 00:08:56,480 Speaker 3: to produce these things. There's movies, these documentaries. He shows 176 00:08:56,480 --> 00:08:59,280 Speaker 3: it costs money to produce. It's going on on these 177 00:08:59,440 --> 00:09:02,080 Speaker 3: these streamings services that's behind a paywall. At least on 178 00:09:02,120 --> 00:09:04,319 Speaker 3: YouTube you can see numbers. They might be inflated, but 179 00:09:04,360 --> 00:09:06,800 Speaker 3: at least you can see the numbers. Like Revolt. I'm 180 00:09:06,800 --> 00:09:08,920 Speaker 3: not sure how many people actually watch Revault on TV, 181 00:09:09,080 --> 00:09:11,640 Speaker 3: but you can see the numbers on YouTube. Drink Champs, 182 00:09:11,720 --> 00:09:14,160 Speaker 3: Tony Yayo's just three million views in three days, like 183 00:09:14,360 --> 00:09:16,880 Speaker 3: shout out to Revolt. As so Reliability Season three comes 184 00:09:16,920 --> 00:09:21,720 Speaker 3: out shameless pluck. But all I'm saying is that I 185 00:09:21,720 --> 00:09:26,440 Speaker 3: think it's just a new age of media and I 186 00:09:26,480 --> 00:09:32,040 Speaker 3: think low costing content. This is why you know, high quality, 187 00:09:32,040 --> 00:09:33,880 Speaker 3: this is why, this is why the podcast scene has 188 00:09:33,920 --> 00:09:38,160 Speaker 3: really taken off. It's low costing content. It's easy to produce, 189 00:09:38,240 --> 00:09:40,199 Speaker 3: it's easy to put out. And I think that you know, 190 00:09:40,679 --> 00:09:43,640 Speaker 3: content has become like music. Before music meant a lot, 191 00:09:44,040 --> 00:09:46,320 Speaker 3: and you had an album and you would sit with 192 00:09:46,360 --> 00:09:49,960 Speaker 3: that album for six months. Now Gunna comes out with 193 00:09:50,000 --> 00:09:52,719 Speaker 3: a song and then Takashi six nine comes out with 194 00:09:52,760 --> 00:09:55,160 Speaker 3: a song with Kodak Black three days later. It's just 195 00:09:55,320 --> 00:09:58,800 Speaker 3: this is so disposable. It's so disposable. That's how content is. 196 00:09:58,840 --> 00:10:00,959 Speaker 3: Content is like Drake doesn't interview in bed with the 197 00:10:01,000 --> 00:10:04,000 Speaker 3: TikTok girl, and then Elliott Wilson he's going back and 198 00:10:04,040 --> 00:10:06,920 Speaker 3: forth with Drake the next week. It's just like it's 199 00:10:07,040 --> 00:10:09,440 Speaker 3: just like you got it. It's so disposable, like the 200 00:10:09,440 --> 00:10:13,360 Speaker 3: content and Dames Dame dash warned does shout the Dane 201 00:10:13,600 --> 00:10:16,880 Speaker 3: when Dame on the Breakfast Club ten years ago, and 202 00:10:16,920 --> 00:10:20,520 Speaker 3: he was very insightful conversation that he had and that's 203 00:10:20,559 --> 00:10:22,560 Speaker 3: when he was he was telling Mvy then like yo, 204 00:10:22,640 --> 00:10:24,400 Speaker 3: you don't own this, and then MVY was like, I 205 00:10:24,480 --> 00:10:26,959 Speaker 3: own I own a stock in the company. I don't 206 00:10:26,960 --> 00:10:28,600 Speaker 3: even think the company's publicly trade. I'm not sure he 207 00:10:28,640 --> 00:10:33,280 Speaker 3: owned stocks. Yeah, it was that was difficult. That's difficult 208 00:10:33,280 --> 00:10:38,520 Speaker 3: for him to do. But it was just a difficult thing. 209 00:10:39,480 --> 00:10:42,760 Speaker 3: But the thing about it is that the thing about 210 00:10:42,800 --> 00:10:48,960 Speaker 3: it is that you have to you have to read 211 00:10:49,000 --> 00:10:49,800 Speaker 3: the tea leaves. 212 00:10:50,320 --> 00:10:50,880 Speaker 2: This is true. 213 00:10:50,920 --> 00:10:53,800 Speaker 3: You have to read the tea leaves. And Charlemagne was 214 00:10:53,800 --> 00:10:56,480 Speaker 3: smart enough to read the tea leaves. He started not 215 00:10:56,520 --> 00:10:59,560 Speaker 3: only his podcast, that he's done, but he starts to black. 216 00:11:00,960 --> 00:11:03,199 Speaker 6: This episode is brought to you by P and C Bank. 217 00:11:03,559 --> 00:11:06,360 Speaker 6: A lot of people think podcasts about work are boring, 218 00:11:06,559 --> 00:11:10,400 Speaker 6: and sure they definitely can be, but understanding a professionals 219 00:11:10,480 --> 00:11:13,720 Speaker 6: routine shows us how they achieve their success little by little, 220 00:11:14,120 --> 00:11:17,760 Speaker 6: day after day. It's like banking with P and C Bank. 221 00:11:18,240 --> 00:11:21,040 Speaker 6: It might seem boring to save, plan and make calculated 222 00:11:21,080 --> 00:11:24,160 Speaker 6: decisions with your bank, but keeping your money boring is 223 00:11:24,200 --> 00:11:27,520 Speaker 6: what helps you live or more happily fulfilled life. 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It's not just about payments, it's about 242 00:12:27,760 --> 00:12:30,200 Speaker 6: giving you time back so you can focus on what 243 00:12:30,360 --> 00:12:34,040 Speaker 6: matters most Ready. To see how Square can transform your business, 244 00:12:34,280 --> 00:12:38,920 Speaker 6: visit Square dot com backslash, go backslash eyl to learn 245 00:12:38,960 --> 00:12:44,160 Speaker 6: more that Square dot com backslash, go backslash eyl, don't wait, 246 00:12:44,480 --> 00:12:47,280 Speaker 6: don't hesitate. Let's Square handle the back end so you 247 00:12:47,320 --> 00:12:48,960 Speaker 6: can keep pushing your vision forward. 248 00:12:51,200 --> 00:12:54,880 Speaker 1: An illegal alien from Guatemala charged with raping a child 249 00:12:54,880 --> 00:12:58,719 Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador 250 00:12:58,960 --> 00:13:03,080 Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with 251 00:13:03,160 --> 00:13:07,040 Speaker 1: filming and selling child pornography in Michigan. These are just 252 00:13:07,120 --> 00:13:10,920 Speaker 1: some of the heinous migrant criminals caught because of President 253 00:13:10,920 --> 00:13:14,520 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 254 00:13:14,520 --> 00:13:19,320 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 255 00:13:19,360 --> 00:13:22,920 Speaker 1: crossings are at the lowest levels ever recorded, and over 256 00:13:22,960 --> 00:13:26,200 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 257 00:13:26,280 --> 00:13:30,120 Speaker 1: are here illegally, your next you will be fine nearly 258 00:13:30,200 --> 00:13:34,240 Speaker 1: one thousand dollars a day, imprisoned and deported, you will 259 00:13:34,240 --> 00:13:37,880 Speaker 1: never return. But if you register using our CBP home 260 00:13:37,960 --> 00:13:41,319 Speaker 1: app and leave now, you could be allowed to return legally. 261 00:13:41,679 --> 00:13:46,439 Speaker 1: Do what's right, leave now. Under President Trump America's laws, 262 00:13:46,600 --> 00:13:49,040 Speaker 1: border and families will be protected. 263 00:13:49,160 --> 00:13:51,240 Speaker 2: Sponsored by the United States Department of Homeland Security. 264 00:13:51,360 --> 00:13:55,000 Speaker 3: So that podcast network, right, this makes sense because now 265 00:13:55,040 --> 00:13:57,840 Speaker 3: you go into the lane of where media is headed. 266 00:13:58,520 --> 00:14:00,880 Speaker 3: So it'll be interesting to see where where media plays 267 00:14:00,920 --> 00:14:02,560 Speaker 3: over the next ten years. But I just feel like 268 00:14:03,160 --> 00:14:05,240 Speaker 3: a lot of peoples wasting a lot of money these 269 00:14:05,280 --> 00:14:09,200 Speaker 3: streaming services. Nobody's watching them. And yeah, it's just it's 270 00:14:09,200 --> 00:14:10,280 Speaker 3: not a good business model. 271 00:14:10,480 --> 00:14:13,200 Speaker 6: So you agreeing with what all you're saying, He's saying 272 00:14:13,200 --> 00:14:16,120 Speaker 6: the same exact thing. Less, it's more like, we messed 273 00:14:16,120 --> 00:14:18,680 Speaker 6: this up. How are we going to fix this? Here's 274 00:14:18,679 --> 00:14:20,520 Speaker 6: how we've got to stop doing this. 275 00:14:20,520 --> 00:14:23,440 Speaker 2: This isn't making any money. We overshot this. 276 00:14:23,600 --> 00:14:27,920 Speaker 6: There's nobody's watching she hok, no disrespect, but nobody's watching it. Right, 277 00:14:28,040 --> 00:14:29,800 Speaker 6: You can put out there, nobody's watching it. 278 00:14:29,920 --> 00:14:30,080 Speaker 3: Right. 279 00:14:30,080 --> 00:14:32,600 Speaker 2: It used to be like, hey, if we create these characters. 280 00:14:32,400 --> 00:14:34,920 Speaker 6: Then they do well in the endgame and then we 281 00:14:34,920 --> 00:14:36,840 Speaker 6: can give them their own individual series. 282 00:14:37,640 --> 00:14:38,400 Speaker 2: And that might have. 283 00:14:38,440 --> 00:14:41,000 Speaker 6: Worked for one or two, but some of these characters 284 00:14:41,760 --> 00:14:43,120 Speaker 6: there's no investment in them. 285 00:14:43,240 --> 00:14:44,440 Speaker 2: Right then they put it It. 286 00:14:44,400 --> 00:14:46,160 Speaker 6: Didn't work on the streaming, so they put it on 287 00:14:46,240 --> 00:14:50,040 Speaker 6: ABC and start you started seeing Agent Shield on. 288 00:14:50,400 --> 00:14:51,720 Speaker 2: What is that it's going? 289 00:14:51,840 --> 00:14:55,560 Speaker 6: Because nobody there's no investment there, so they overdid it 290 00:14:55,560 --> 00:14:56,240 Speaker 6: so less it's more. 291 00:14:56,920 --> 00:15:00,640 Speaker 4: And of course when you didn't watch the Agent Child, No, 292 00:15:00,760 --> 00:15:04,040 Speaker 4: absolutely no, this show is terrible, shout who's on the show. 293 00:15:04,280 --> 00:15:07,280 Speaker 5: But but like when you are not having it's too 294 00:15:07,320 --> 00:15:11,280 Speaker 5: many suits in the creative business that is not looking 295 00:15:11,360 --> 00:15:14,040 Speaker 5: to make great creative and of course, like you have 296 00:15:14,080 --> 00:15:17,400 Speaker 5: to judge a business like how can it thrive? And 297 00:15:17,400 --> 00:15:20,120 Speaker 5: and an economy when people don't have a surplus of money. 298 00:15:20,120 --> 00:15:23,480 Speaker 5: In twenty eighteen, twenty nineteen, twenty twenty, up until March, 299 00:15:23,560 --> 00:15:27,760 Speaker 5: everyone thought everything was fine. Always calibrate to see, okay, great, 300 00:15:27,800 --> 00:15:31,080 Speaker 5: how well will things do if the market drives up 301 00:15:31,120 --> 00:15:32,440 Speaker 5: and people don't have as much money? 302 00:15:32,640 --> 00:15:33,160 Speaker 4: Number two? 303 00:15:33,960 --> 00:15:35,960 Speaker 5: Once again, like Rashata said, the costs for these shows 304 00:15:35,960 --> 00:15:39,200 Speaker 5: with you damn high, so like you have to find 305 00:15:39,280 --> 00:15:41,760 Speaker 5: everything is a hedge fund business. Like as soon as 306 00:15:41,960 --> 00:15:45,920 Speaker 5: I saw Pat McAfee get brought over the ESPN, I'm like, 307 00:15:46,480 --> 00:15:49,200 Speaker 5: I wonder how much the betting will go up because 308 00:15:49,200 --> 00:15:52,280 Speaker 5: he's a player that can call things on the fly 309 00:15:52,520 --> 00:15:54,960 Speaker 5: in real time, that can make people money. As soon 310 00:15:55,000 --> 00:15:57,440 Speaker 5: as I saw Romo say hey, this is the play 311 00:15:57,480 --> 00:15:59,360 Speaker 5: they're going to run and people start betting on it, 312 00:15:59,520 --> 00:16:00,680 Speaker 5: that's the head truck business. 313 00:16:01,800 --> 00:16:03,240 Speaker 4: It's all about risk to reward. 314 00:16:03,400 --> 00:16:06,120 Speaker 5: Like if I paid ten dollars for content, can I 315 00:16:06,120 --> 00:16:08,240 Speaker 5: get one hundred dollars out of it? It's really hard 316 00:16:08,240 --> 00:16:11,960 Speaker 5: to make up a three hundred million dollar movie fifteen 317 00:16:12,040 --> 00:16:13,680 Speaker 5: dollars or seven dollars at a time. 318 00:16:13,720 --> 00:16:15,960 Speaker 4: It's stamn near impossible to do. So. 319 00:16:16,440 --> 00:16:20,280 Speaker 3: Hollywood is a place where there is a tremendous amount 320 00:16:20,280 --> 00:16:22,800 Speaker 3: of waste. It's a bad business model. They waste money. 321 00:16:23,960 --> 00:16:26,040 Speaker 3: There's too many people with their hands in the pot, 322 00:16:26,360 --> 00:16:31,920 Speaker 3: they take too long, there's too many gatekeepers, and that's 323 00:16:31,920 --> 00:16:34,120 Speaker 3: what they don't strike now. Like technology is going to 324 00:16:34,160 --> 00:16:36,080 Speaker 3: replace job no matter how, no matter what they try 325 00:16:36,080 --> 00:16:37,200 Speaker 3: to do with the strike and try to put the 326 00:16:37,280 --> 00:16:40,280 Speaker 3: language in. You can't. You can't erase AI. It's here 327 00:16:40,320 --> 00:16:46,240 Speaker 3: to stay. So the whole idea of Hollywood is fading away. 328 00:16:46,280 --> 00:16:49,320 Speaker 3: It's actually it's a bad business model that's dying. And 329 00:16:51,560 --> 00:16:54,040 Speaker 3: the student they realize that the better off they'll be, 330 00:16:54,360 --> 00:16:56,880 Speaker 3: they're trying to save. They're trying to save the golden 331 00:16:56,920 --> 00:17:00,240 Speaker 3: age of Hollywood. It's over Lea through a weapon. 332 00:17:02,200 --> 00:17:02,440 Speaker 2: Movie. 333 00:17:02,600 --> 00:17:05,359 Speaker 3: It's no, I'm saying that that's never gonna happen like 334 00:17:05,400 --> 00:17:06,480 Speaker 3: those are. 335 00:17:07,920 --> 00:17:10,439 Speaker 2: It's over like they're trying to do it. 336 00:17:10,640 --> 00:17:13,560 Speaker 3: They trying to do. How much money they spent like something, 337 00:17:13,600 --> 00:17:16,439 Speaker 3: how much money they spend on Barbie? Huge that budget 338 00:17:16,520 --> 00:17:19,280 Speaker 3: is it's not passing the eye test? Did one fifty five? 339 00:17:19,720 --> 00:17:25,320 Speaker 3: They spent a billion. They spent a lot, a lot, 340 00:17:25,760 --> 00:17:26,720 Speaker 3: they spent a lot. 341 00:17:26,920 --> 00:17:30,240 Speaker 6: And if anybody's looking at Mattel, which owns Barbie, and 342 00:17:30,520 --> 00:17:34,000 Speaker 6: twenty percent of the revenue from Motel comes from Barbie's merchandising, 343 00:17:34,440 --> 00:17:36,320 Speaker 6: and may tease the stock just for you watch. 344 00:17:36,560 --> 00:17:38,120 Speaker 2: They spent a lot, they spend a lot. 345 00:17:38,240 --> 00:17:38,800 Speaker 3: I don't, I'm not. 346 00:17:40,160 --> 00:17:40,479 Speaker 4: I'm not. 347 00:17:40,920 --> 00:17:45,240 Speaker 3: I'm just a common sense person. I think they will. 348 00:17:45,080 --> 00:17:48,280 Speaker 5: Spend one fifty on marketing and they made one fifty 349 00:17:48,320 --> 00:17:50,359 Speaker 5: five first at least one fifty on marketing. 350 00:17:50,840 --> 00:17:52,639 Speaker 3: I think they spent more, but that's not that's not 351 00:17:52,680 --> 00:17:55,639 Speaker 3: even the actor. That's just domestic. That's just domestic. I 352 00:17:55,640 --> 00:17:57,320 Speaker 3: think they're losing money on it. That's my whole point. 353 00:17:57,320 --> 00:17:59,359 Speaker 3: We'll see, well, I don't know, I'm not one hundred. 354 00:17:59,359 --> 00:18:01,000 Speaker 6: But even if it as well, right, let's say it 355 00:18:01,040 --> 00:18:03,720 Speaker 6: does well, there's only been one billion dollar movie and 356 00:18:03,800 --> 00:18:05,720 Speaker 6: we can't even count that well, we can't count there's 357 00:18:05,720 --> 00:18:07,280 Speaker 6: only been one billion dollar movie. 358 00:18:07,040 --> 00:18:08,760 Speaker 2: This year for all the markets and all the movies. 359 00:18:09,119 --> 00:18:09,760 Speaker 2: You know what it is? 360 00:18:10,280 --> 00:18:10,600 Speaker 4: What's that? 361 00:18:11,800 --> 00:18:11,920 Speaker 2: You know? 362 00:18:12,160 --> 00:18:12,480 Speaker 3: Back the. 363 00:18:15,880 --> 00:18:16,560 Speaker 2: Mario Brothers. 364 00:18:16,600 --> 00:18:19,200 Speaker 6: Bro Mario Brothers is the only movie this year, but 365 00:18:19,400 --> 00:18:21,520 Speaker 6: they can count Avatar because it came out in December, 366 00:18:21,560 --> 00:18:23,080 Speaker 6: So Mary Brothers is the only one that's done a 367 00:18:23,080 --> 00:18:23,840 Speaker 6: billion dollars. 368 00:18:24,080 --> 00:18:28,639 Speaker 2: Even if this does, it doesn't. It's not a fair assessment. 369 00:18:28,160 --> 00:18:31,200 Speaker 6: Of what the movie situation looks like because it's one. 370 00:18:31,840 --> 00:18:34,720 Speaker 6: It's one out of how four or five movies comes 371 00:18:35,119 --> 00:18:35,760 Speaker 6: come out a week. 372 00:18:36,720 --> 00:18:38,879 Speaker 2: We don't go to see any of them. The model 373 00:18:38,960 --> 00:18:39,320 Speaker 2: is different. 374 00:18:39,359 --> 00:18:43,080 Speaker 6: Now they got thirty days to put it on, but 375 00:18:43,160 --> 00:18:46,600 Speaker 6: you brought up something with the Pat McAfee thing, because 376 00:18:46,600 --> 00:18:50,440 Speaker 6: Disney is losing money, right, and it's cost. 377 00:18:50,320 --> 00:18:51,040 Speaker 2: Him a lot of money. 378 00:18:51,640 --> 00:18:53,359 Speaker 6: There's a free agent out there that they keep saying 379 00:18:53,440 --> 00:18:56,439 Speaker 6: is coming to the network. Oh baby, what do you 380 00:18:56,440 --> 00:18:57,720 Speaker 6: think Shannon Sharper is worth. 381 00:18:59,240 --> 00:18:59,920 Speaker 4: The real number? 382 00:19:00,560 --> 00:19:01,840 Speaker 2: What's the what do you think the real number? 383 00:19:01,880 --> 00:19:01,960 Speaker 4: Right? 384 00:19:01,960 --> 00:19:04,320 Speaker 6: Because this toss Even Steve Mana says that, like, you know, 385 00:19:04,359 --> 00:19:05,640 Speaker 6: he wants to bring him to the show. If Pat 386 00:19:05,720 --> 00:19:08,960 Speaker 6: McAfee is five years eighty five million. 387 00:19:09,080 --> 00:19:13,040 Speaker 3: But Steven A. Smith got like twelve million, so under pay. 388 00:19:13,359 --> 00:19:13,960 Speaker 4: He's under paid. 389 00:19:14,000 --> 00:19:15,200 Speaker 2: Even he's under paid. 390 00:19:15,160 --> 00:19:19,200 Speaker 3: To work, like to work seven days a week, going 391 00:19:19,240 --> 00:19:20,600 Speaker 3: to Utah, going. 392 00:19:20,480 --> 00:19:22,960 Speaker 5: To for real, they got him do a little cross 393 00:19:23,000 --> 00:19:26,440 Speaker 5: games and shit, he's running around the running around the 394 00:19:26,440 --> 00:19:33,240 Speaker 5: globe for I am good Ya Jesus, somebody go Stephen A. 395 00:19:33,320 --> 00:19:34,000 Speaker 5: Smith on the show. 396 00:19:34,359 --> 00:19:37,199 Speaker 6: We ain't going back to so Lake now man So, 397 00:19:38,320 --> 00:19:40,680 Speaker 6: uh no, it's gonna be interested to see I'm interested 398 00:19:40,680 --> 00:19:42,879 Speaker 6: in seeing that, especially when you hear the CEO of 399 00:19:42,880 --> 00:19:46,120 Speaker 6: the company saying that, Yo, we're losing money. In fact, 400 00:19:46,160 --> 00:19:48,240 Speaker 6: we got to figure out how we're gonna get this 401 00:19:48,480 --> 00:19:51,040 Speaker 6: twenty seven billion to get Hulu because that's on the 402 00:19:51,080 --> 00:19:53,080 Speaker 6: ticket before the end of the year. Then we got 403 00:19:53,119 --> 00:19:54,440 Speaker 6: to figure out how we're going to pay flats to 404 00:19:54,520 --> 00:19:56,360 Speaker 6: seventy one million for the search flight deal. 405 00:19:57,000 --> 00:20:00,960 Speaker 3: I mean, like, where are we getting the money? Disney 406 00:20:00,960 --> 00:20:03,000 Speaker 3: plus too much, they got too much going on. 407 00:20:04,200 --> 00:20:06,080 Speaker 2: I think they're gonna combine Hulo and that was one 408 00:20:06,119 --> 00:20:06,880 Speaker 2: of the plans, he said. 409 00:20:07,359 --> 00:20:09,680 Speaker 4: And I don't know when what happened, and that's cut 410 00:20:09,760 --> 00:20:10,960 Speaker 4: you off. But I think one billion. 411 00:20:10,960 --> 00:20:12,639 Speaker 2: I'm sorry, seventy one billion, that million. 412 00:20:14,680 --> 00:20:16,400 Speaker 4: Jesus. And guess what. 413 00:20:16,480 --> 00:20:19,080 Speaker 5: Here's a model that I think would be really amazing. 414 00:20:20,040 --> 00:20:23,600 Speaker 5: Shoot a fifteen million dollar movie. Bring it to me. 415 00:20:24,119 --> 00:20:27,280 Speaker 5: I'll give you forty sixty percent of the revenue and 416 00:20:27,359 --> 00:20:31,199 Speaker 5: we keep forty. And if they incentivize mister Beast to 417 00:20:31,200 --> 00:20:33,000 Speaker 5: do it because he's doing these big ass productions, I 418 00:20:33,000 --> 00:20:35,640 Speaker 5: think YouTube can end up being one of the biggest 419 00:20:36,200 --> 00:20:37,960 Speaker 5: movie producers in the next ten years. 420 00:20:38,280 --> 00:20:40,119 Speaker 4: They have a batter. Here's their model. 421 00:20:40,320 --> 00:20:44,640 Speaker 5: I'll pay you after this shit works. 422 00:20:44,680 --> 00:20:46,119 Speaker 4: Not bad, good idea. 423 00:20:46,359 --> 00:20:48,920 Speaker 5: It's only a one percent chance of failure. The way 424 00:20:48,960 --> 00:20:51,760 Speaker 5: the Hollywood has been doing it. Any accountant will tell 425 00:20:51,800 --> 00:20:53,879 Speaker 5: you that that is an upside down business. Mind you're 426 00:20:53,960 --> 00:20:57,800 Speaker 5: running negative, like even if you had a string of 427 00:20:57,960 --> 00:21:00,560 Speaker 5: like now Marvel and the Rocket isn't working. I knew 428 00:21:00,560 --> 00:21:03,399 Speaker 5: the movie industry was in trouble when they started talking 429 00:21:03,440 --> 00:21:05,040 Speaker 5: bad about the Black Adam. 430 00:21:04,720 --> 00:21:06,520 Speaker 4: Flop and wanted to get the Rock out of DC. 431 00:21:07,520 --> 00:21:10,159 Speaker 5: I said, if he can't make their franchise work and 432 00:21:10,240 --> 00:21:12,760 Speaker 5: him a superman, are not getting it, not getting along. 433 00:21:13,320 --> 00:21:14,160 Speaker 4: It's over with. 434 00:21:14,640 --> 00:21:19,960 Speaker 5: Here's a novel, idea, build something that people want, monetize 435 00:21:20,000 --> 00:21:23,240 Speaker 5: it after or the creators. Put your own money up 436 00:21:23,320 --> 00:21:24,040 Speaker 5: and bring it up. 437 00:21:24,560 --> 00:21:27,400 Speaker 2: Actually, there's only a few franchises that work. 438 00:21:28,640 --> 00:21:32,680 Speaker 6: DC's it's a struggle that fast and furious that I 439 00:21:32,720 --> 00:21:34,200 Speaker 6: but it's just one franchise that. 440 00:21:34,119 --> 00:21:36,240 Speaker 2: They just keep doing over and over and over again. 441 00:21:36,280 --> 00:21:39,360 Speaker 2: People love it. But that's yeah, just make the product 442 00:21:39,760 --> 00:21:40,440 Speaker 2: and we'll pay you. 443 00:21:40,640 --> 00:21:43,199 Speaker 3: It's like success. Like the same thing will corporate is 444 00:21:43,200 --> 00:21:45,720 Speaker 3: the same thing with government. They're all stupid and they're 445 00:21:45,720 --> 00:21:48,480 Speaker 3: added touch, and they're all the only the only white men, 446 00:21:49,240 --> 00:21:51,720 Speaker 3: and it's a it's a small demographic of the society 447 00:21:51,760 --> 00:21:54,080 Speaker 3: that's making rules for everything and they're completely out of touch. 448 00:21:54,320 --> 00:21:57,760 Speaker 3: Rite the check for investmentest that's a perfect example. If 449 00:21:57,880 --> 00:22:01,560 Speaker 3: you I don't know why Investvest doesn't have ten million 450 00:22:01,600 --> 00:22:04,919 Speaker 3: dollars in corporate sponsorships because they're out of touch of 451 00:22:04,960 --> 00:22:07,400 Speaker 3: what's going on. You get twenty thousand people to come 452 00:22:07,440 --> 00:22:09,400 Speaker 3: to learn about financial literacy, what else in the world 453 00:22:09,480 --> 00:22:11,800 Speaker 3: has that actually ever happened? And we got to kind 454 00:22:11,800 --> 00:22:14,919 Speaker 3: of golden back and forth with pitch decks and because 455 00:22:14,960 --> 00:22:17,280 Speaker 3: they are out of touch when real mean and it's 456 00:22:17,359 --> 00:22:21,200 Speaker 3: controlled by a small minority of white men who don't 457 00:22:21,200 --> 00:22:23,679 Speaker 3: even know what earning leisure is. This is this is 458 00:22:23,800 --> 00:22:26,600 Speaker 3: what music. This is why the music sounds like it sounds, 459 00:22:26,880 --> 00:22:29,240 Speaker 3: this is why the content has produced how it is. 460 00:22:29,680 --> 00:22:32,040 Speaker 3: And it's the same thing over and over again. They're 461 00:22:32,040 --> 00:22:35,639 Speaker 3: wasting money and they don't know what's what's happening with 462 00:22:35,960 --> 00:22:39,880 Speaker 3: culture society, and they keep just striking out, and they 463 00:22:39,920 --> 00:22:43,679 Speaker 3: get afforded luxuries to keep striking out, and they get rehired. 464 00:22:43,720 --> 00:22:45,520 Speaker 3: They get fired from one company, and then they get 465 00:22:45,600 --> 00:22:47,760 Speaker 3: hired at another company. And it's a whole network of 466 00:22:47,800 --> 00:22:51,360 Speaker 3: nonsense and it's been happening forever. 467 00:22:52,080 --> 00:22:59,320 Speaker 6: Yeah, that was powered and he's accurate. 468 00:23:00,000 --> 00:23:02,160 Speaker 5: Anyone who thinks this is just as right when I say, hey, 469 00:23:02,160 --> 00:23:06,480 Speaker 5: we don't have twenty five productive companies, or like why 470 00:23:06,480 --> 00:23:10,200 Speaker 5: do you guys always talk about Apple and Microsoft because 471 00:23:10,400 --> 00:23:15,800 Speaker 5: Dura sell is not a great company, so sorry, Like 472 00:23:16,720 --> 00:23:20,200 Speaker 5: most of the companies that we love are not even here. 473 00:23:20,880 --> 00:23:24,160 Speaker 5: Samsung is not an American property, Like there's a real 474 00:23:24,320 --> 00:23:26,719 Speaker 5: we have so much inefficiency and like you said in 475 00:23:26,920 --> 00:23:33,000 Speaker 5: schooling bureaucracy, government corporate like like the bloat is too 476 00:23:33,040 --> 00:23:36,119 Speaker 5: much and then it's a slow erosion of our economy 477 00:23:36,119 --> 00:23:38,960 Speaker 5: as a result. But then the biggest companies could go 478 00:23:39,000 --> 00:23:41,480 Speaker 5: to other countries that they help build but won't help 479 00:23:41,520 --> 00:23:42,680 Speaker 5: build us here. 480 00:23:43,840 --> 00:23:45,320 Speaker 4: But what do I know if I made you money? 481 00:23:45,320 --> 00:23:48,560 Speaker 5: Please put yes and chat media businesses are in trouble. 482 00:23:49,640 --> 00:23:50,480 Speaker 2: Thank you, Charlie Man.