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Speaker 1: Hey, guys, Saga and Crystal here.

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Speaker 2: Independent media just played a truly massive role in this election,

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Speaker 2: and we are so excited about what that means for

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Speaker 2: So if that is something that's important to you, please

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Speaker 2: go to Breakingpoints dot com. Become a member today and

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Speaker 1: We need your help to build the future of independent

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Speaker 1: news media and we hope to see you at Breakingpoints

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Speaker 1: dot com. All right, let's get to the jib, shall we.

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Speaker 2: Yeah, So, Emily and I covered yesterday this ADP report

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Speaker 2: that came out that said that there were, you know,

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Speaker 2: roughly ten thousand jobs being lost every single week in October,

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Speaker 2: and that report has taken on a lot more significance

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Speaker 2: because due to the government shutdown, we aren't getting government data,

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Speaker 2: so we have to rely on people like ADP who

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Speaker 2: are compiling data. So yesterday Caroline Lovett was getting asked about, Hey,

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Speaker 2: you know, when might we see some actual official government

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Speaker 2: jobs numbers? And she revealed we may just never actually

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Speaker 2: release the October jobs report.

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Speaker 3: So let's take a listen to that.

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Speaker 4: The Democrats shutdown made it extraordinarily difficult for economics, economists, investors,

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Speaker 4: in policy makers at the Federal Reserve to receive critical

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Speaker 4: government data. The Democrats may have permanently damaged the federal

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Speaker 4: statistical system with October CPI in jobs reports likely never

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Speaker 4: being released, and all of that economic data released will

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Speaker 4: be permanently impaired, leaving our policy makers at the Fed

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Speaker 4: flying blind at a critical period.

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Speaker 2: So she's saying, not only are they not releasing those

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Speaker 2: past numbers, but they may have permanently damaged the systems.

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Speaker 2: Pretty wild, Sager, at a time when I think people

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Speaker 2: are very interested in what direction the economy has added.

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Speaker 1: Yeah, they're like, oh, well, we just can't release the data,

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Speaker 1: especially after they've helped fire the BLS commissioner and now

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Speaker 1: their new commissioner isn't going to get the votes. So

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Speaker 1: it's just yeah, interesting, isn't it. Look? In general, even

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Speaker 1: with some of these it's almost not even necessary when

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Speaker 1: the only stat that matters is the consumer sentiment. Consumers

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Speaker 1: are saying that this is the worst economy in twenty years. Okay,

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Speaker 1: I believe them. Like, at the end of the day,

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Speaker 1: I don't think that people are delusional whenever it comes

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Speaker 1: to consumer sentiment, which is based on expectations and based

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Speaker 1: on reality as well as the lack of change over

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Speaker 1: the last five years, and every structural level life is shit.

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Speaker 1: I just think that that's basic, and it doesn't take

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Speaker 1: a genius or its a bls you know, month by

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Speaker 1: month data to look at it. And just look at

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Speaker 1: the basics of healthcare of home and daycare or childcare,

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Speaker 1: any of those three things, groceries as well, and be like, okay,

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Speaker 1: obviously things are not trending in the right direction. Also

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Speaker 1: at the same time, you know, the AI stuff just

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Speaker 1: hovers above all of us entirely, billions of dollars moving

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Speaker 1: and changing hands with no expectation of real profit and

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Speaker 1: the real expectation of a genuine crash put us up

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Speaker 1: around the screen, like, for example, just show you how

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Speaker 1: crazy shit is getting. So SoftBank Maso, she's SoftBank has

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Speaker 1: sold some five point eight billion in their stake in

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Speaker 1: Nvidia to pay for OpenAI deals. Okay, so he sold

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Speaker 1: his steak in n Video. According to their more recent

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Speaker 1: quarterly report in order to help fund their thirty billion

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Speaker 1: dollars spending plans alone just on open Ai. So they

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Speaker 1: sold at ai basic stock in order to fund other aideals.

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Speaker 5: So this is billions and billions and billions and billions

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Speaker 5: of dollars. They were talking about one hundred billion alone

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Speaker 5: that's pledged just to spend on projects here in the US.

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Speaker 5: And the thing is is, remember with stocks, this is

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Speaker 5: what we talked about with palent here, with Nvidia and everything.

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Speaker 5: Everything is built on future value, on expectations. So I mean,

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Speaker 5: one of the things I just can't get away from

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Speaker 5: is this is not dot com and that some of

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Speaker 5: these companies, it's not that they're making no money.

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Speaker 1: Open Ai is making good amount of money. They're making

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Speaker 1: twenty billion dollars a year roughly on. But the thing

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Speaker 1: is is they have a trillion dollars that they have

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Speaker 1: to spend in the next ten years, and so for

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Speaker 1: their expectations to meet reality, they're making it so that

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Speaker 1: you have like a you know, a pretty successful company,

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Speaker 1: but the value, the inflated value that's propping the whole

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Speaker 1: market up and everything is about exponential growth for the

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Speaker 1: next ten years with an expectation of value of six

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Speaker 1: seven hundred billion in the future. That would be more

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Speaker 1: than any other company in human industry. So you're like, uh, okay,

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Speaker 1: I mean that's that's literally the delusion that you have

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Speaker 1: to believe. So I'm not saying it's dot com as in,

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Speaker 1: it's not diapers dot com or pest dot com or

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Speaker 1: any of these places where you know it's totally out

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Speaker 1: of whack. They do make a lot of money, but

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Speaker 1: the problem is that the valuation is made, so it's

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Speaker 1: not you can't just be successful, Like why can't you

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Speaker 1: just take the win. Yeah, we make twenty billion and

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Speaker 1: be valued normally. They have to be valued as if

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Speaker 1: they're a trillion dollar company. And so when you crash

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Speaker 1: even back to reality, all of us will still suffer

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Speaker 1: because of the because of the way that market ripples

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Speaker 1: interest rates. You know how many other oh my god,

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Speaker 1: I was reading today life insurance companies. A quarter or

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Speaker 1: something of life insurance is parked in some AI or

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Speaker 1: data center bets. Right, so yeah, people will die. Right,

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Speaker 1: we don't even and you have to pay that out

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Speaker 1: remember aig all of that, like, it's all nothing has changed,

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Speaker 1: It's all deeply interconnected.

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Speaker 2: I honestly, I think it's vastly worse than dot Com.

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Speaker 2: I do because of the amount of money that we're

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Speaker 2: talking about here, and because of how much shitty our

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Speaker 2: economy is now. Like you know, back in two thousand,

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Speaker 2: we still there was more stuff that we still we

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Speaker 2: still had more of a real economy. Of course, right,

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Speaker 2: we were only partially in those neoliberal destruction of any

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Speaker 2: real actual economic activity. Now we're in this you know,

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Speaker 2: La la land of just complete financialization and fantasy, where

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Speaker 2: our entire economy is a bet on AI and so

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Speaker 2: and the center of the whole thing is in Nvidia. Right,

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Speaker 2: You've all seen the chart of like here's Nvidia, and

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Speaker 2: here's all the arrows going circular to this one and

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Speaker 2: back to that one and whatever. In Vidia is the

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Speaker 2: center of all of that. And so that's why when SoftBank,

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Speaker 2: who was a major player, major investor.

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Speaker 3: In the space, like major investor in the space.

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Speaker 2: When they're like, we're selling all of our stake in Nvidia,

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Speaker 2: people were like hmm. Now, as Sager said, what they're

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Speaker 2: saying is basically like, look, we need the cash because we're.

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Speaker 3: Still all in on AI.

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Speaker 2: This is we need the cash because we committed to

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Speaker 2: open AI that we're going to make this investment.

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Speaker 3: So this is how we're doing.

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Speaker 2: It has nothing to do with our insessment of in Vidia,

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Speaker 2: but it still was very head scratching for people at

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Speaker 2: a moment when a lot of analysts are looking at

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Speaker 2: what's going on in AI and saying, this looks like

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Speaker 2: a giant bubble, and just.

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Speaker 3: Ask yourself this question.

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Speaker 2: So I was talking about how much how wild evaluations

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Speaker 2: are and how much exponential growth in revenue they would

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Speaker 2: need to be able to actually like fund the build

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Speaker 2: out that they've committed to. We talked about this before,

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Speaker 2: would take like every single iPhone user on the planet

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Speaker 2: thirty four dollars of revenue for them for them to

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Speaker 2: meet revenue projections, et cetera. And then ask yourself the question,

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Speaker 2: ask yourself the different chat GPT models that are coming out,

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Speaker 2: are they exponentially better? They're like modest improvements one over

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Speaker 2: or another. And the story of AI is that as

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Speaker 2: it gets better, the improvement goes exponential because as the

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Speaker 2: AI improves and the AI can start to train itself. Now,

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Speaker 2: what you could say is, okay, well that only that

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Speaker 2: exponential curve that really happens when you hit AGI, and

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Speaker 2: then you've got the AIS training the other AIS, and

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Speaker 2: that's when you get to this exponential growth curve. But

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Speaker 2: you know, if you're looking for indications that the promise

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Speaker 2: here may not match the reality of where we are,

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Speaker 2: I think one very important indication is that after the

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Speaker 2: chatbots came online and the initial shock of like these

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Speaker 2: lms and how much improved they are over ordinary search

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Speaker 2: and like all the things they can do and all

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Speaker 2: the research that they're capable of processing and all of that, like,

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Speaker 2: they have not really improved that much. There's still tons

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Speaker 2: of hallucinations.

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Speaker 1: You know.

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Speaker 2: I was asking Grog yesterday for Hey, what's out there

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Speaker 2: that in the Epstein files that were just released that

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Speaker 2: connects that's like about Trump, Like just every reference that

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Speaker 2: has been flagged. Can you pull it for me? The

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Speaker 2: only things that pulled were the three initial emails that

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Speaker 2: the Democrats had released, and then when I pushed it, it

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Speaker 2: was like, no, this is it.

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Speaker 3: So I mean, and.

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Speaker 2: I'm sure you guys experience if you use any of

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Speaker 2: these chat gupt or Grog or whatever you use, they

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Speaker 2: hallucinate and make shit up all the time.

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Speaker 3: So again, if this is going to be.

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Speaker 2: If this is going to justify the spend and the

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Speaker 2: valuations and all of the hype in the hysteria and

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Speaker 2: the incredible mass bet that our society, that thanks to

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Speaker 2: our political leadership, our society is placed on these things.

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Speaker 2: You would think that they would be improving pretty dramatically

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Speaker 2: over this time period, and we just aren't really seeing that.

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Speaker 1: I said yesterday, cure cancer or get out. You know,

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Speaker 1: it's one of the that's what you said was gonna happen.

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Speaker 1: But in the interim, if you're just doing pornography and

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Speaker 1: data se and like a glorified Google search, look, I mean,

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Speaker 1: let's not dismand let's not discounted too much. It's cool.

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Speaker 1: I like, especially for math, like I use chat GPT

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Speaker 1: for math a lot, but all of it is stuff

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Speaker 1: I could do an Excel. It's just that I don't

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Speaker 1: have to do the actual like formulas there, right, and

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Speaker 1: I specifically use it for like personal finance. But but

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Speaker 1: to say that you should totally trust it, I'm telling

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Speaker 1: you as you just said, oh absolutely, I'm talking about

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Speaker 1: basic shit like absolutely. I remember once I was like, hey,

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Speaker 1: when I was looking at Super Bowl statistics like some

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Speaker 1: NFL stuff, and I was like, well, who won the

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Speaker 1: Super Bowl in this year? They just said the wrong team.

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Speaker 1: I was like, that's not true, and you're like, oh, yeah,

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Speaker 1: you're right. You're like, what's possible. It's one of those

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Speaker 1: where like you'll say that's not true, recheck it, and

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Speaker 1: they're like, Yep, you're right. I've done that with math

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Speaker 1: all the time. It's should We're using like complex stuff

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Speaker 1: if you ever want to go and calculate. You know,

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Speaker 1: we talk about mortgages here all the time. So I'm

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Speaker 1: constantly in Chatchuby team like, oh if I have a

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Speaker 1: six percent mortgage and this, this and this, just to

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Speaker 1: be able to talk about it on the show. Their

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Speaker 1: math is wrong like twenty five percent of the time,

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Speaker 1: Like yeah, all the time, it's just totally wrong.

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Speaker 2: Well, and it was these AI agents were supposed to

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Speaker 2: be like this huge game changer in terms of oh,

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Speaker 2: that's what's going to like, you know, really revolutionize and

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Speaker 2: you know in the corporate space and whatever, and we're

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Speaker 2: going to talk about it. I mean, I do think that

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Speaker 2: there is AI job loss, and I think they're in particular,

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Speaker 2: companies are assuming they're going to be able to use

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Speaker 2: AI to replace entry level workers. Even though they haven't

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Speaker 2: really figured out how to do that yet, So they're

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Speaker 2: just hiring fewer people based on their assumption they're going

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Speaker 2: to be able to figure that out. But in any case,

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Speaker 2: like the AI agents have not been, that's not been

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Speaker 2: a game changer either. So I mean, to me, the

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Speaker 2: best possible case is that it's you know, it doesn't

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Speaker 2: ever reach AGI, that it's sort of like self driving

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Speaker 2: vehicles where it gets up to a point and then

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Speaker 2: the growth and the traject really stalls out. It's very

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Speaker 2: difficult to solve that like last mile of the problem.

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Speaker 2: That's actually my hope because I think AGI is such

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Speaker 2: an incredible, like looming disaster for humanity.

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Speaker 3: And Matt Wallas she apparently agrees with us on that.

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Speaker 1: I thot him posting, well, my buddy John Coogan has

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Speaker 1: described it as He's like, Okay, maybe it won't be AGI,

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Speaker 1: but it could be like the credit card where you know,

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Speaker 1: like frictionless payments. Yeah, that was good, you know, and

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Speaker 1: then it creates more revenue and you know, the frictionless

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Speaker 1: payment means that some companies can accept. I was like, yeah,

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Speaker 1: that's all great, but that's not cure and cancer. You

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Speaker 1: know what I'm saying, well, and I'm fine with that. Actually,

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Speaker 1: I have no issue, like with a better math machine. Cool,

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Speaker 1: I like that better Google not worth where currently is,

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Speaker 1: and that's right.

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Speaker 2: I mean my fear is that, I mean, my my

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Speaker 2: biggest fear is that they do achieve their goals and

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Speaker 2: try to replace all workers, because you know what what

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Speaker 2: is better than like a union busted, low wage workforce

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Speaker 2: that you can exploit and abuse is.

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Speaker 3: No workforce whatsoever.

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Speaker 2: That's the ultimate capitalist dream, and that's you know, that's

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Speaker 2: what they're aiming for. That's what they're driving for, is

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Speaker 2: to make all of us absolutely irrelevant. So I hope

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Speaker 2: that progress stalls out and that it never reaches that capacity.

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Speaker 3: Puts C four up on the screen.

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Speaker 2: This speaks to that, so Deep Seek leadership here, warning

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Speaker 2: that AI could eliminate most jobs in the next ten

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Speaker 2: to twenty years. Deep Seek, of course, being that Chinese

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Speaker 2: based LM, which really sort of shocked the world with

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Speaker 2: its prowess and operates much more efficiently requiring much lower

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Speaker 2: levels of compute, doesn't require all of this like mass

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Speaker 2: data center build out that we've seen here. In any case,

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Speaker 2: he says, during this period, societal structures will also be

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Speaker 2: greatly challenged. Tech companies should play the role of guardians

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Speaker 2: of humanity, at the very least protecting human safety then

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Speaker 2: helping to reshape societal order.

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Speaker 3: I don't know.

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Speaker 2: I'm not feeling too good about letting like Mark Zuckerberg,

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Speaker 2: Sam Altman and Elon Musk be in Peter Thiel be

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Speaker 2: the guardians of humanity. I'm not feeling great about that

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Speaker 2: direction me personally and.

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Speaker 1: Everything to get CCP if they win the AI right right,

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Speaker 1: So like neither, I don't really want.

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Speaker 2: Any any human being, even the best person I could,

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Speaker 2: most intelligent person I could think of, I don't really want,

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Speaker 2: you know, that kind of power consolidated in any one person.

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Speaker 2: So when you see, you know, someone making these sorts

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Speaker 2: of pronouncements, and he's far from the only one. You

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Speaker 2: can see this from any number of these tech barons

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Speaker 2: who are leading the charge here, this is this is

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Speaker 2: their expectation, and it's their goal, and they're talking openly

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Speaker 2: about how they are working to upend society completely. And

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Speaker 2: I think, you know, people are just starting to gain

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Speaker 2: awareness of what their long gain really is. And it's

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Speaker 2: hard to wrap your head around because it seems preposterous right,

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Speaker 2: especially when you're just like messing around with chat, GPT

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Speaker 2: and GROCK and it's given you bullshit wrong answers. You're like,

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Speaker 2: this stuff is never going to be that transformationial. I

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Speaker 2: hope that's true. But you know, the people who are

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Speaker 2: involved closely and working on this think think very differently.

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Speaker 2: We have to take that series, of.

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Speaker 1: Course, you take it seriously on and I think just

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Speaker 1: the reason why AI is having so much backlash right

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Speaker 1: now is because, like people are just not happy with

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Speaker 1: the economy. Go put B eight up here on the screen.

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Speaker 1: They don't like the idea that tech titans they're going

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Speaker 1: to control their entire destiny. B eight please, just to

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Speaker 1: show everybody, So, how's the economy doing? Corporations say better

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Speaker 1: than ever, workers and consumers are saying, I'm in hell.

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Speaker 1: Corporate confidence in the economy is running close to a

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Speaker 1: twenty year high, while unemployment expectations are closing in on

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Speaker 1: a forty year high. You just can't get away from

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Speaker 1: this stuff, and in general people are correct, you know.

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Speaker 1: Just to back up your point what you were saying earlier,

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Speaker 1: can we put B six on the screen just to

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Speaker 1: show you if you read this JP Morgan Report to

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Speaker 1: drive a ten percent return on our modeled AI investments

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Speaker 1: through the twenty thirty would require six hundred and fifty

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Speaker 1: billion of annual revenue in perpetuity, which equates to thirty

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Speaker 1: four dollars and seventy two dollars a month from every

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Speaker 1: current iPhone user. Just let that think that's what they're

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Speaker 1: building their current pe ratios, and you know, investments on

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Speaker 1: it's just not going to happen. B seven then just

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Speaker 1: to bake up backup as well. The AI boom quote

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Speaker 1: is looking more fragile than ever where they look at

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Speaker 1: the currents versus the three month high, and they also

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Speaker 1: talk specifically about losses. Open ai is currently projecting that

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Speaker 1: losses will swell to seventy four billion in twenty twenty eight.

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Speaker 1: This is what I said earlier. You guys are making

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Speaker 1: twenty billion dollars a year, twenty billion. That's cool, right,

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Speaker 1: that's a big ass business. But your capex is seventy

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Speaker 1: four billion losses in twenty twenty eight, even with modeled

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Speaker 1: increase in your overall profit. And the journal you know

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Speaker 1: they're actually doing a great job just by highlighting all

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Speaker 1: of this is that you know, right now investors are

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Speaker 1: currently expected to stomach one hundred and fifty billion dollars

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Speaker 1: alone in open AI losses. One hundred and fifty billion

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Speaker 1: dollars alone in open AI losses. And that is where

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Speaker 1: the Chatchipts of the world and others are basically just saying, yeah,

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Speaker 1: we know it's not that great right now, but it's

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Speaker 1: going to get better. You have to bank on exponential

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Speaker 1: growth and all of this, and I'm just sorry, like

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Speaker 1: I don't buy it. I don't think a lot of

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Speaker 1: other people should buy it. And in the interim, what

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Speaker 1: will happen is a crash, like an epic crash. It

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Speaker 1: could be just like dot Com, or it could be

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Speaker 1: two thousand and seven. The ripple effects will be devastating

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Speaker 1: for everybody else. Remember the bankers were all mostly fine

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Speaker 1: after two thousand and eight. Nobody it's not even just

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Speaker 1: about jail. They're all actually rich, like if they just

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Speaker 1: if they held out, like, those are some of the

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Speaker 1: richest people in America right now. And so even people

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Speaker 1: who were like, well, I didn't have anything to do

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Speaker 1: with mortgage backed securities, or even if you never took

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Speaker 1: out a subprime loan, well, if your commercial paper got

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Speaker 1: screwed and you got laid off, you still got affected

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Speaker 1: by it. That's what's going to happen. That's actually what's

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Speaker 1: going to happen. And I talked about the life insurance stuff,

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Speaker 1: the people who are tied up in this pension funds.

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Speaker 1: If you think Dodd Frank fixed anything, I have a

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Speaker 1: bridge to sell it, or I have a car to

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Speaker 1: sell you a twenty five percent interest.

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Speaker 2: Something I really was thinking about yesterday, and that the

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Speaker 2: Derek Thompson piece we had about how corporations are, like,

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Speaker 2: you know, they're feeling great. Their sentiment is an all

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Speaker 2: time high z sumer sentiment as an all time low.

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Speaker 3: Is you know, used to be that.

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Speaker 2: I think there was a good case that you could,

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Speaker 2: like good free market case you could make that like

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Speaker 2: if you give the corporations what they want, they're going

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Speaker 2: to grow. There's going to be more jobs. That's going

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Speaker 2: to benefit America more broadly. What it was like, what's

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Speaker 2: good for GM is good for America? Like that that sentiment.

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Speaker 2: It wasn't total leidu, but it had some true.

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Speaker 1: It was a lot more true than AI is now.

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Speaker 3: Now.

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Speaker 2: The best thing you can do as a corporation is

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Speaker 2: to lay off your workers, right I mean, it's always

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Speaker 2: been the case that those sort of cost cutting is rewarded.

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Speaker 2: But I think the relationship between how your average American

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Speaker 2: is doing and how corporations are doing it's not only

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Speaker 2: not correlated anymore, they're actually directly at odds with one another.

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Speaker 2: So the better that corporations are doing in the stock market,

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Speaker 2: the worse that your average person is doing. And AI

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Speaker 2: makes it so that that is like dramatically obviously true.

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Speaker 2: We can put C five up on the screens talking

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Speaker 2: about these like gen Z workers who are coming into

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Speaker 2: the job market right now, and they talked to you know,

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Speaker 2: one of the bosses gave the New Yorker this quote,

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Speaker 2: there's just no reason to deal with young employees.

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Speaker 3: AI is taking entry level jobs.

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Speaker 2: What happens when gen Z ers can't start their careers

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Speaker 2: starts off with this truly like heartbreaking story about this

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Speaker 2: guy who you know, did the whole thing, went to

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Speaker 2: good college, gets the job at the consulting firm.

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Speaker 3: And what is his job.

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Speaker 2: His job is to go in and help different companies

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Speaker 2: like Automate use implement AI to automate certain processes so

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Speaker 2: that they don't need as many workers. And then lo

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Speaker 2: and behold, he automates himself out of existence. You know,

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Speaker 2: it's the modern day version of It reminded me of

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Speaker 2: that ad that Obama did famously against Mitt Romney, where

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Speaker 2: the guys like build built the stage on which their

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Speaker 2: own layoffs were announced.

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Speaker 3: It's sort of like the AI version of that.

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Speaker 2: He built out the automated process that allowed his own

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Speaker 2: firm where he was a high performer because he was

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Speaker 2: really great at using a you know, building out these

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Speaker 2: AI price processes for different companies. He built out the

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Speaker 2: process that replaced himself. And so, like I was saying before,

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Speaker 2: even if companies haven't totally figured out how to replace

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Speaker 2: entry level workers.

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Speaker 3: With AI, they assume they're going to.

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Speaker 2: And they're very uncertain about the state of the economy

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Speaker 2: right now anyway, the tariffs and Trump and you know,

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Speaker 2: things feel a little wobbly and not sure that we

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Speaker 2: want to like bring on a bunch of people right

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Speaker 2: now anyway, So, you know, the the zoomers are coming

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Speaker 2: out of college increasingly, there just isn't that entry level work.

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Speaker 2: And so if you never go through that process of

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Speaker 2: doing the you know, the shit work of the I'm

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Speaker 2: going to compile the spreadsheets and do the analysis and

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Speaker 2: crunch the numbers for the higher ups. How does that work? Like,

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Speaker 2: what does that even? What does that even look like

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Speaker 2: in terms of a workforce. So you know, these are

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Speaker 2: dynamics that are already taking taken hold at a time

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Speaker 2: when the I promise has not reached it's full fruition

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Speaker 2: or anything close to what is being ultimately.

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Speaker 1: Yeah, exactly with the Scott work. Yeah. No, like the

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Speaker 1: whole no, all entry level work is Scott and the

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Speaker 1: whole reason is not to gain skill. It's to acclimatize

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Speaker 1: to the workplace. Is to like learn basic norms about

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Speaker 1: how to send emails and what it's like to be

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Speaker 1: an adult. Like that's ninety five percent of it, you know,

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Speaker 1: And what you do is through osmosis. You see other

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Speaker 1: people do a little bit more complicated work, and you're like, oh,

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Speaker 1: that's how you approach that, and then slowly you get

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Speaker 1: handed a little bit of responsibility. But I mean, what

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Speaker 1: does everybody whoever wants to join the workforce say, I

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Speaker 1: just need an opportunity to learn a little bit of something. Yeah,

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Speaker 1: that's what you're ultimately hiring for, especially when you're looking

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Speaker 1: at a twenty two year old straight out of college

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Speaker 1: or an eighteen nineteen year old who's coming out of

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Speaker 1: trade school. When no one's hiring you for your skill,

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Speaker 1: it's for your ability to learn, that's it. And so

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Speaker 1: if you take that out, it's devastating, you know, I

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Speaker 1: think for a lot of younger people. Okay, let's move

433
00:20:56,119 --> 00:20:58,560
Speaker 1: the landlord shall We been wanting to cover the story,

434
00:20:58,880 --> 00:21:02,280
Speaker 1: I just think I mean again classic just nobody wants

435
00:21:02,359 --> 00:21:06,840
Speaker 1: to touch it because of spooky labels around anti semitism, etc.

436
00:21:07,200 --> 00:21:09,320
Speaker 1: Let's just say from the top, this is not in

437
00:21:09,400 --> 00:21:12,720
Speaker 1: any way anti Semitic. What we're trying to do is

438
00:21:12,800 --> 00:21:17,000
Speaker 1: just cover the story of housing, which the Nation highlighted

439
00:21:17,080 --> 00:21:20,080
Speaker 1: in a way that I have seen very rarely reported

440
00:21:20,080 --> 00:21:22,400
Speaker 1: on from the New York Times or from anybody else.

441
00:21:22,400 --> 00:21:23,840
Speaker 1: So they're the people who did the work, and so

442
00:21:23,880 --> 00:21:25,399
Speaker 1: they're going to get the credit for it. And of

443
00:21:25,400 --> 00:21:27,199
Speaker 1: course the only reason that it's not being able to

444
00:21:27,200 --> 00:21:29,879
Speaker 1: be published anywhere else is because people are afraid of

445
00:21:29,920 --> 00:21:32,359
Speaker 1: being criticized. So let's put this up here on the screen.

446
00:21:32,520 --> 00:21:36,000
Speaker 1: What the Nation did is highlighted quote the eviction Kings,

447
00:21:36,119 --> 00:21:39,120
Speaker 1: one of Israel's biggest companies, how is taking over huge

448
00:21:39,119 --> 00:21:41,760
Speaker 1: swats of us real estate and how tenants are paying

449
00:21:41,920 --> 00:21:45,560
Speaker 1: the price. So they specifically highlight these stories about how

450
00:21:46,280 --> 00:21:49,080
Speaker 1: a company, for example, they highlight this one person who

451
00:21:49,320 --> 00:21:51,800
Speaker 1: went down and during an eviction hearing and they say,

452
00:21:51,840 --> 00:21:53,600
Speaker 1: how did you get to court? Quote. He could have

453
00:21:53,600 --> 00:21:56,080
Speaker 1: told her about the company that brought Conrad at Concord

454
00:21:56,119 --> 00:21:58,600
Speaker 1: Mills in Charlotte, North Carolina in March of twenty twenty two,

455
00:21:58,800 --> 00:22:00,399
Speaker 1: the one that they had installed a new slew of

456
00:22:00,400 --> 00:22:02,480
Speaker 1: gadgets that he said he didn't need before raising rent

457
00:22:02,480 --> 00:22:04,280
Speaker 1: by nearly four hundred a month. He could have told

458
00:22:04,280 --> 00:22:07,040
Speaker 1: her about eviction notices that the company kept filing against him,

459
00:22:07,160 --> 00:22:09,240
Speaker 1: the ones that came, he says, with an onslaught of

460
00:22:09,280 --> 00:22:11,960
Speaker 1: fees that virtually guaranteed he'd never be able to fully

461
00:22:12,000 --> 00:22:13,480
Speaker 1: back into his feet. He could have told her about

462
00:22:13,520 --> 00:22:15,400
Speaker 1: the accident that ended up tearing up his leg two

463
00:22:15,400 --> 00:22:17,600
Speaker 1: weeks prior, causing him to need help just to get

464
00:22:17,600 --> 00:22:20,280
Speaker 1: from his park truck into the courtroom. Talked about going

465
00:22:20,320 --> 00:22:21,800
Speaker 1: through it because he had nowhere else to go. In

466
00:22:21,840 --> 00:22:23,760
Speaker 1: the eyes of the court, it didn't matter he owed

467
00:22:23,760 --> 00:22:25,480
Speaker 1: money that he didn't have, so he was thrown out

468
00:22:25,560 --> 00:22:28,280
Speaker 1: May of twenty twenty four and spent the following months homeless,

469
00:22:28,280 --> 00:22:30,679
Speaker 1: showering at rest stops, sleeping in his truck. And what

470
00:22:30,760 --> 00:22:34,159
Speaker 1: he specifically talks about is this company, referred to as

471
00:22:34,200 --> 00:22:37,880
Speaker 1: American Landmark, a major corporate landlord with some thirty four

472
00:22:37,880 --> 00:22:41,560
Speaker 1: thousand units concentrated in one hundred and eleven mega complexes

473
00:22:41,640 --> 00:22:45,640
Speaker 1: like Conrad across eight southern states North Carolina, Florida, and Texas,

474
00:22:45,760 --> 00:22:49,200
Speaker 1: nearly two thirds of properties purchased after the COVID pandemic began,

475
00:22:49,440 --> 00:22:51,960
Speaker 1: and the company with private equity structure that allows investors

476
00:22:51,960 --> 00:22:53,960
Speaker 1: from all over the world to bet on the growth

477
00:22:53,960 --> 00:22:56,720
Speaker 1: of real estate portfolio. It is now America's thirty fourth

478
00:22:56,800 --> 00:22:59,680
Speaker 1: largest landlord. They say based on a review by the Nation,

479
00:22:59,800 --> 00:23:03,280
Speaker 1: entire investigations of thousands of records from dozens of properties,

480
00:23:03,320 --> 00:23:05,640
Speaker 1: as well as an interview with its CEO, it's clear

481
00:23:05,720 --> 00:23:09,560
Speaker 1: that the company model inevitably leads to frequent displacements of tenants,

482
00:23:09,600 --> 00:23:12,199
Speaker 1: and specifically, what they all do is they look at

483
00:23:12,240 --> 00:23:15,920
Speaker 1: some forty three different tenants who faced eviction notices from

484
00:23:15,960 --> 00:23:18,880
Speaker 1: across the American South and the Sun Belt. They report

485
00:23:18,960 --> 00:23:21,479
Speaker 1: a wide array of issues that they say led to

486
00:23:21,640 --> 00:23:24,680
Speaker 1: their case and specifically to get to the Israel connection.

487
00:23:25,040 --> 00:23:28,240
Speaker 1: What they say is that because American Landmark is owned

488
00:23:28,440 --> 00:23:33,800
Speaker 1: entirely almost by Elco, one of Israel's largest corporations. For years, Elco,

489
00:23:34,640 --> 00:23:38,240
Speaker 1: via its electric superbrand, has done extensive business quote in

490
00:23:38,320 --> 00:23:41,119
Speaker 1: Israeli settlements in West Bank and East Jerusalem, and they

491
00:23:41,200 --> 00:23:44,120
Speaker 1: drive many thousands of Palestinians obviously from there. Elgo has

492
00:23:44,119 --> 00:23:47,080
Speaker 1: maintained deep ties to the Israeli military and of course

493
00:23:47,119 --> 00:23:49,959
Speaker 1: has been long part of like the Israeli establishment. You

494
00:23:49,960 --> 00:23:52,640
Speaker 1: can say all of that objectively. This is an objective

495
00:23:52,680 --> 00:23:55,280
Speaker 1: fact that you have a landlord here which is operating

496
00:23:55,280 --> 00:23:57,000
Speaker 1: in the US. And one of the reasons I think

497
00:23:57,040 --> 00:23:59,680
Speaker 1: that this is worth highlighting is the problem of corporatized

498
00:23:59,720 --> 00:24:02,800
Speaker 1: landl organization. In the first place, no one is saying

499
00:24:02,920 --> 00:24:05,919
Speaker 1: Israel controls everything. I want to be very clear about that.

500
00:24:06,000 --> 00:24:09,280
Speaker 1: It's the thirty fourth largest landlord, but it's emblematic to

501
00:24:09,359 --> 00:24:11,480
Speaker 1: me and I thought of this nation story in the

502
00:24:11,520 --> 00:24:14,679
Speaker 1: same way that we can worry about Chinese purchases of

503
00:24:14,800 --> 00:24:18,919
Speaker 1: large swats of farmland or any foreigners. By the way,

504
00:24:19,160 --> 00:24:21,000
Speaker 1: anybody ever go down to Miami. Do you know what

505
00:24:21,080 --> 00:24:23,800
Speaker 1: percent of Miami is owned by people with foreign addresses.

506
00:24:23,960 --> 00:24:28,000
Speaker 1: It's crazy New York City, San Diego, Los Angeles, Chicago.

507
00:24:28,240 --> 00:24:32,240
Speaker 1: Here in DC. Foreign ownership of land is a huge problem,

508
00:24:32,520 --> 00:24:36,240
Speaker 1: and especially when it turns into a financialized instrument, like

509
00:24:36,280 --> 00:24:39,920
Speaker 1: in these big mega towers across the Sun Belt. One

510
00:24:39,920 --> 00:24:42,120
Speaker 1: of the promises of the Sun Belt is it's cheaper

511
00:24:42,160 --> 00:24:43,440
Speaker 1: to live there as well. A lot of people move

512
00:24:43,480 --> 00:24:45,639
Speaker 1: down there. Well, you know what's happening is they're all

513
00:24:45,680 --> 00:24:49,160
Speaker 1: getting rolled up into these giant you know, equity investments

514
00:24:49,320 --> 00:24:52,920
Speaker 1: for private equity that's yielding money now to who knows who,

515
00:24:53,000 --> 00:24:58,760
Speaker 1: from Israeli companies to Chinese companies, Russian companies, sketchy Brazilian companies,

516
00:24:58,880 --> 00:25:01,720
Speaker 1: money laundering from all across the world. And the people

517
00:25:01,720 --> 00:25:03,840
Speaker 1: paying the price are us who have to pay a

518
00:25:03,840 --> 00:25:06,080
Speaker 1: couple of thousand dollars a month to run and who

519
00:25:06,119 --> 00:25:08,199
Speaker 1: are having gadgets and all these other things put in there.

520
00:25:08,200 --> 00:25:09,760
Speaker 1: So I thought, I thought it was just a good

521
00:25:09,760 --> 00:25:14,000
Speaker 1: piece to demonstrate how when you have this financialization plus

522
00:25:14,080 --> 00:25:19,000
Speaker 1: internationalization of America's housing market, this is the end result ultimately.

523
00:25:18,800 --> 00:25:21,439
Speaker 2: And the other connection here, I mean the fact that

524
00:25:21,480 --> 00:25:25,960
Speaker 2: this company is so deeply involved in what are illegal

525
00:25:26,160 --> 00:25:30,760
Speaker 2: settlements in the occupied West Bank and Jerusalem. Think of

526
00:25:30,760 --> 00:25:34,800
Speaker 2: what they're doing there, They're actively pushing Palestinians off of

527
00:25:34,880 --> 00:25:37,520
Speaker 2: their land. And then think of what they're doing here,

528
00:25:37,920 --> 00:25:40,960
Speaker 2: which is what the Nation documents is they're using all

529
00:25:41,040 --> 00:25:45,560
Speaker 2: these additional fees and tricks to push Americans now out

530
00:25:45,600 --> 00:25:50,160
Speaker 2: of their homes and at nine times the rate of

531
00:25:50,160 --> 00:25:53,600
Speaker 2: your average landlord. And you know, this is what a

532
00:25:53,640 --> 00:25:58,320
Speaker 2: lot of big management companies want to do. They like

533
00:25:58,400 --> 00:26:01,960
Speaker 2: to push people out of their houses. Why because in

534
00:26:02,000 --> 00:26:04,240
Speaker 2: a lot of places you have restrictions on how much

535
00:26:04,240 --> 00:26:06,600
Speaker 2: you can hike the rent. So long as someone is

536
00:26:06,680 --> 00:26:10,720
Speaker 2: occupying that apartment, when they leave, you can jack up

537
00:26:10,720 --> 00:26:13,479
Speaker 2: the rent much further. We've actually seen this with some

538
00:26:13,520 --> 00:26:17,000
Speaker 2: of these ice raids, like the apartment building in Chicago.

539
00:26:17,119 --> 00:26:20,640
Speaker 2: There's some indications that what happened there is you had

540
00:26:20,760 --> 00:26:24,439
Speaker 2: a sleazy slumlord from out of state, not out of country,

541
00:26:24,440 --> 00:26:27,320
Speaker 2: but from out of state who wanted to kick a

542
00:26:27,320 --> 00:26:30,639
Speaker 2: bunch of tenants out of the building to make it

543
00:26:30,680 --> 00:26:33,800
Speaker 2: easier on them so they could, you know, reset the rates.

544
00:26:34,200 --> 00:26:37,119
Speaker 2: And so what they did was effectively like call in

545
00:26:37,280 --> 00:26:42,000
Speaker 2: ice to clear everybody out of that building. And you know,

546
00:26:42,080 --> 00:26:44,639
Speaker 2: that appears to be part of what it looks like

547
00:26:44,680 --> 00:26:46,400
Speaker 2: that may have been the story too with the whole

548
00:26:46,400 --> 00:26:50,399
Speaker 2: trender Ragua apartment building in Colorado as well. So there

549
00:26:50,400 --> 00:26:53,679
Speaker 2: are lots of tricks that landlords use to try to

550
00:26:54,119 --> 00:26:56,680
Speaker 2: kick people out of their apartments so that they can

551
00:26:56,800 --> 00:26:59,480
Speaker 2: hike up the rent even further than they would.

552
00:26:59,320 --> 00:27:00,920
Speaker 3: Otherwise be allowed to do.

553
00:27:01,359 --> 00:27:05,919
Speaker 2: And what this documents is this Israeli company is apparently

554
00:27:06,200 --> 00:27:09,760
Speaker 2: like they have really innovated in terms of the tactics

555
00:27:09,800 --> 00:27:12,960
Speaker 2: that they use, the predatory, exploitative tactics that they use

556
00:27:13,400 --> 00:27:17,920
Speaker 2: to make it so people cannot stay, cannot possibly afford

557
00:27:18,240 --> 00:27:21,080
Speaker 2: the fees and the add on additions in order to

558
00:27:21,119 --> 00:27:23,640
Speaker 2: stay in their apartment, and so they end up out

559
00:27:23,640 --> 00:27:24,199
Speaker 2: on the street.

560
00:27:24,440 --> 00:27:25,880
Speaker 3: I mean, this is why.

561
00:27:25,960 --> 00:27:28,680
Speaker 2: When we talk about the first of all, I think

562
00:27:28,720 --> 00:27:30,800
Speaker 2: it's a moral to work with a company that is,

563
00:27:31,240 --> 00:27:34,879
Speaker 2: you know, participating in the illegal settlements in the West Bank.

564
00:27:35,200 --> 00:27:36,640
Speaker 3: That's number one.

565
00:27:37,000 --> 00:27:38,879
Speaker 2: But number two, you know, when we talk about the

566
00:27:38,920 --> 00:27:41,280
Speaker 2: housing market and we think about like the abundance style

567
00:27:41,400 --> 00:27:44,120
Speaker 2: solutions where you're just you know, trying to relieve permitting

568
00:27:44,119 --> 00:27:46,560
Speaker 2: issues and build out more, it's like, yes, that is

569
00:27:46,640 --> 00:27:49,160
Speaker 2: part of the problem. But if you're not confronting these

570
00:27:49,160 --> 00:27:53,159
Speaker 2: issues with you know, entrenched capital interests, then you're only

571
00:27:53,200 --> 00:27:55,920
Speaker 2: dealing with one sliver of what the issue is here.

572
00:27:56,040 --> 00:27:58,880
Speaker 2: You have to tackle all of these problems, and this

573
00:27:58,920 --> 00:28:01,439
Speaker 2: is certainly one of them. The other one, you know,

574
00:28:01,440 --> 00:28:04,119
Speaker 2: that we've talked about before is like the algorithmic price

575
00:28:04,200 --> 00:28:08,399
Speaker 2: fixing in the rental market as well. And you know,

576
00:28:08,440 --> 00:28:12,480
Speaker 2: the rental market and the home ownership markets can be

577
00:28:12,920 --> 00:28:15,600
Speaker 2: deeply connected in terms of what people are able to afford.

578
00:28:16,000 --> 00:28:18,840
Speaker 2: So in any case, you know, there you go, this

579
00:28:19,960 --> 00:28:23,000
Speaker 2: Israeli company that works in the settlements kicking Palestinians off

580
00:28:23,000 --> 00:28:25,320
Speaker 2: of their land, also working here at home to kick

581
00:28:25,560 --> 00:28:27,200
Speaker 2: you and other Americans out of your head.

582
00:28:27,280 --> 00:28:30,000
Speaker 1: Yeah, and I think what it highlights is just how

583
00:28:30,400 --> 00:28:34,040
Speaker 1: you know, structural it is, how difficult it is, you know,

584
00:28:34,200 --> 00:28:36,359
Speaker 1: to even get your foot in the door here. You

585
00:28:36,440 --> 00:28:38,440
Speaker 1: just have to be extraordinarily lucky. Like if you want

586
00:28:38,440 --> 00:28:40,520
Speaker 1: to make it in a high cost of living today,

587
00:28:40,680 --> 00:28:44,120
Speaker 1: good luck man, seriously. And I hate to say that,

588
00:28:44,240 --> 00:28:47,800
Speaker 1: I really do, because the promise of cities was that

589
00:28:47,840 --> 00:28:51,040
Speaker 1: people could come here if they wanted to. Unlike Ben

590
00:28:51,080 --> 00:28:53,800
Speaker 1: Shapiro not saying you have to leave, you know, if

591
00:28:53,800 --> 00:28:56,840
Speaker 1: you're but the promise always is it's like this is

592
00:28:56,840 --> 00:28:59,640
Speaker 1: where the action happens and the network effects and you

593
00:28:59,720 --> 00:29:02,040
Speaker 1: get to meet people. But you can't do that and

594
00:29:02,080 --> 00:29:04,000
Speaker 1: then stay for a while. If you make it so

595
00:29:04,040 --> 00:29:06,840
Speaker 1: that only the top point one percent are the people

596
00:29:06,920 --> 00:29:10,160
Speaker 1: can afford to live there, that's sick. Actually, it's right.

597
00:29:10,320 --> 00:29:12,160
Speaker 2: You have to move when you have kids because there's

598
00:29:12,240 --> 00:29:14,720
Speaker 2: just no way that you could afford to raise a family. Yeah,

599
00:29:14,720 --> 00:29:16,720
Speaker 2: I mean, I mean that really hollows out the heart

600
00:29:16,720 --> 00:29:18,520
Speaker 2: and soul of place. One of my buddies is just

601
00:29:18,600 --> 00:29:19,520
Speaker 2: completely childless.

602
00:29:19,560 --> 00:29:21,120
Speaker 1: I was just talking to one of my buddies. All right.

603
00:29:21,960 --> 00:29:25,880
Speaker 1: Here in northern Virginia, we have the most expensive county

604
00:29:26,000 --> 00:29:29,560
Speaker 1: for the first five years of daycare. Daycare cost right

605
00:29:29,560 --> 00:29:32,400
Speaker 1: now Arlington, Virginia is one hundred and forty six thousand

606
00:29:32,480 --> 00:29:35,320
Speaker 1: dollars over five years, one hundred and.

607
00:29:35,520 --> 00:29:38,840
Speaker 6: Fifty grand for five years.

608
00:29:38,880 --> 00:29:41,040
Speaker 1: All right, what's the point of even fucking working at

609
00:29:41,040 --> 00:29:43,520
Speaker 1: that point? What's your after tax income? Whenever you look

610
00:29:43,520 --> 00:29:46,000
Speaker 1: at daycare and then oh but if your wife doesn't

611
00:29:46,000 --> 00:29:48,720
Speaker 1: work that twenty or your husband, I don't judge, you know,

612
00:29:48,720 --> 00:29:50,720
Speaker 1: whoever doesn't want to work. Whoever doesn't want to work,

613
00:29:50,760 --> 00:29:53,120
Speaker 1: Oh well, then good luck saving up for your down payment.

614
00:29:53,240 --> 00:29:54,880
Speaker 1: And if you do happen to have a down payment,

615
00:29:54,920 --> 00:29:57,160
Speaker 1: guess what. The boomer down the street, he's got cash

616
00:29:57,200 --> 00:29:58,800
Speaker 1: in this portfolio and he's going to buy you out,

617
00:29:58,800 --> 00:30:00,440
Speaker 1: and he's going to make sure they we don't even

618
00:30:00,480 --> 00:30:02,320
Speaker 1: have a chance. And then you're gonna end up living

619
00:30:02,400 --> 00:30:05,160
Speaker 1: ninety five minutes outside of town in a three bedroom

620
00:30:05,240 --> 00:30:08,760
Speaker 1: rancher built in nineteen sixty with the luck of living

621
00:30:08,760 --> 00:30:11,320
Speaker 1: on a quarter acred lot if you can afford it,

622
00:30:11,400 --> 00:30:14,080
Speaker 1: and if you overcome everything I just discussed. Put D

623
00:30:14,160 --> 00:30:17,240
Speaker 1: two up here on the screen. For example, the median

624
00:30:17,320 --> 00:30:20,720
Speaker 1: age of a US home buyer is now sixty one

625
00:30:20,800 --> 00:30:25,160
Speaker 1: years old. Okay, sixty one, all right? The share of

626
00:30:25,160 --> 00:30:27,160
Speaker 1: first time buyers has now fallen to a record low

627
00:30:27,240 --> 00:30:30,040
Speaker 1: twenty one percent. Does anyone want to riddle that one

628
00:30:30,040 --> 00:30:31,760
Speaker 1: for me? And you know, everybody gets mad at me

629
00:30:31,800 --> 00:30:35,920
Speaker 1: about my war on boomers and talking about property tax

630
00:30:36,000 --> 00:30:39,880
Speaker 1: on this is why sixty one that's the median? Does

631
00:30:39,920 --> 00:30:42,760
Speaker 1: everyone remember median from elementary school? So what does that

632
00:30:42,760 --> 00:30:44,600
Speaker 1: tell you about the number of people over the median

633
00:30:44,760 --> 00:30:46,640
Speaker 1: who are over the age of sixty one who are

634
00:30:46,640 --> 00:30:49,680
Speaker 1: purchasing houses and how skewed the market is. This is

635
00:30:49,760 --> 00:30:52,480
Speaker 1: like call this is literally the grounds for like violent revolution.

636
00:30:52,640 --> 00:30:57,360
Speaker 1: Whenever we talk about landlords property ownership, and you people like,

637
00:30:57,400 --> 00:30:59,400
Speaker 1: I'm the nice version of what's coming, just so you

638
00:30:59,440 --> 00:31:02,400
Speaker 1: all understand, Like, and they're trying to pass this stuff

639
00:31:02,600 --> 00:31:05,400
Speaker 1: exempting themselves from property tax and from school tax to

640
00:31:05,480 --> 00:31:07,600
Speaker 1: make so that not only do you not afford a house,

641
00:31:07,640 --> 00:31:09,600
Speaker 1: but they don't have to pay for your children's school.

642
00:31:09,680 --> 00:31:13,120
Speaker 1: Like they don't get it. Sixty one is insane. That

643
00:31:13,200 --> 00:31:16,600
Speaker 1: is the sign of the sickest society on earth that

644
00:31:16,720 --> 00:31:20,280
Speaker 1: prioritizes people who are on their way out making instead

645
00:31:20,320 --> 00:31:22,479
Speaker 1: of the people who are you know, on their way in.

646
00:31:22,720 --> 00:31:25,120
Speaker 1: And it's not just for me, okay, I'm okay, but

647
00:31:25,400 --> 00:31:28,600
Speaker 1: I know too many people who are not okay, who

648
00:31:28,640 --> 00:31:31,560
Speaker 1: have to make really difficult choices, and very often they

649
00:31:31,560 --> 00:31:33,560
Speaker 1: either have to leave their job or leave the place

650
00:31:33,600 --> 00:31:36,320
Speaker 1: where they actually want to live because it's way too

651
00:31:36,360 --> 00:31:40,600
Speaker 1: expensive and structurally things are not designed for your flourishing

652
00:31:40,640 --> 00:31:43,920
Speaker 1: whenever you have children versus when you're older in the country.

653
00:31:43,920 --> 00:31:46,840
Speaker 1: You cannot look at that chart and tell me otherwise. Yeah,

654
00:31:46,840 --> 00:31:49,360
Speaker 1: And this landlord story is definitely part of it. I

655
00:31:49,360 --> 00:31:52,520
Speaker 1: mean here in Washington people I literally know people paying

656
00:31:52,560 --> 00:31:56,040
Speaker 1: three four thousand dollars a month in rent forty eight

657
00:31:56,080 --> 00:31:59,360
Speaker 1: thousand dollars a year after tax income. I'm talking not

658
00:31:59,520 --> 00:32:02,880
Speaker 1: that like two three bedrooms all right, not big And

659
00:32:03,120 --> 00:32:06,240
Speaker 1: these corporatized places, it's the same thing. They slap it

660
00:32:06,280 --> 00:32:09,960
Speaker 1: with all these fees and you know they're console gym

661
00:32:10,000 --> 00:32:11,440
Speaker 1: in a pool and all this other stuff. And the

662
00:32:11,520 --> 00:32:13,200
Speaker 1: next thing you look, know, if you look at the

663
00:32:13,240 --> 00:32:15,960
Speaker 1: itemization of all this stuff, if your increase in rent,

664
00:32:15,960 --> 00:32:18,600
Speaker 1: that's where it all goes. It's and then apparently it's

665
00:32:18,600 --> 00:32:20,880
Speaker 1: being pushed by all of this. How are you supposed

666
00:32:20,880 --> 00:32:23,080
Speaker 1: to work your way out of it? I genuinely don't

667
00:32:23,120 --> 00:32:24,840
Speaker 1: see a way that you can. And these are people

668
00:32:24,880 --> 00:32:26,640
Speaker 1: that are all making good money, that's the craziest part.

669
00:32:26,640 --> 00:32:28,440
Speaker 1: So what if you're not making good money? Then what

670
00:32:28,480 --> 00:32:28,800
Speaker 1: do you do?

671
00:32:28,960 --> 00:32:29,160
Speaker 7: Yeah?

672
00:32:29,200 --> 00:32:30,280
Speaker 1: You just will do what leave?

673
00:32:30,440 --> 00:32:32,600
Speaker 2: And then they're like, I can't believe these young people

674
00:32:32,760 --> 00:32:36,160
Speaker 2: voted for Zoron. He's such a radical, Like you're lucky

675
00:32:36,240 --> 00:32:39,800
Speaker 2: that that's what they're You're lucky is a nice version,

676
00:32:39,880 --> 00:32:44,360
Speaker 2: the mean version, Yeah, hopefully we're not going to find out,

677
00:32:44,800 --> 00:32:46,560
Speaker 2: but at least Trump is solving it with the fifty

678
00:32:46,640 --> 00:32:49,440
Speaker 2: year mortgage, So then that's going to make everything better.

679
00:32:50,000 --> 00:32:50,280
Speaker 6: Yeah.

680
00:32:50,720 --> 00:32:53,360
Speaker 2: Yeah, Well, apparently the idea was so terrible we put

681
00:32:53,360 --> 00:32:55,000
Speaker 2: C three up on or D three up on the screen.

682
00:32:55,000 --> 00:32:57,959
Speaker 2: Apparently the idea was so terrible that even like you know,

683
00:32:58,040 --> 00:33:00,640
Speaker 2: within the White House, they were like, what the hell

684
00:33:00,680 --> 00:33:04,240
Speaker 2: are we talking about here? Proposal wasn't fully vetted by

685
00:33:04,280 --> 00:33:09,479
Speaker 2: top Trump administration officials. Apparently this guy what's his name, Polty,

686
00:33:09,640 --> 00:33:13,520
Speaker 2: the same guy, yeah, Bill Poulti, who's like scouring records

687
00:33:13,520 --> 00:33:16,640
Speaker 2: to find how Letitia James like checked the wrong box

688
00:33:16,800 --> 00:33:20,479
Speaker 2: one time on some mortgage application, and he's using that

689
00:33:20,520 --> 00:33:23,280
Speaker 2: to jump charges against Trump's enemies. That same guy as

690
00:33:23,360 --> 00:33:26,560
Speaker 2: the one who came to Trump with this meme about

691
00:33:26,880 --> 00:33:29,240
Speaker 2: FDR did the thirty year mortgage, and so you're going

692
00:33:29,320 --> 00:33:31,920
Speaker 2: to do the fifty year mortgage and you're both great presidents.

693
00:33:32,120 --> 00:33:34,120
Speaker 2: And Trump just saw that and was like, oh, yeah, great,

694
00:33:34,320 --> 00:33:36,960
Speaker 2: love that love that idea. And I don't know if

695
00:33:37,000 --> 00:33:42,120
Speaker 2: I've ever seen such immediate sort of horror, visceral horror

696
00:33:42,480 --> 00:33:46,280
Speaker 2: at a wonky policy proposal from across the ideological spectrum

697
00:33:46,280 --> 00:33:46,960
Speaker 2: as I've seen at this.

698
00:33:47,240 --> 00:33:49,720
Speaker 1: Yeah, well, I mean, first of all, we're coming off

699
00:33:49,760 --> 00:33:52,640
Speaker 1: of the cost of living twenty twenty five backlash, who

700
00:33:52,720 --> 00:33:56,200
Speaker 1: is Zaura Mumdani election in New York City? And what

701
00:33:56,240 --> 00:33:59,719
Speaker 1: we're also looking at here is this is the question

702
00:33:59,840 --> 00:34:03,040
Speaker 1: of our time. Like, I really am coming back to this.

703
00:34:03,080 --> 00:34:04,680
Speaker 1: Can we pull over an element I didn't get to

704
00:34:04,720 --> 00:34:07,560
Speaker 1: it in our last block C three, Please just pull

705
00:34:07,560 --> 00:34:09,640
Speaker 1: it over here. I've referenced it a couple of times

706
00:34:09,680 --> 00:34:12,040
Speaker 1: here on the show. But this is that study which

707
00:34:12,040 --> 00:34:14,440
Speaker 1: says that rising housing costs have cost some fifty one

708
00:34:14,480 --> 00:34:17,000
Speaker 1: percent of the total fertility rate decline between the two

709
00:34:17,040 --> 00:34:19,879
Speaker 1: thousands and the twenty tens, and some seven percentage points

710
00:34:19,920 --> 00:34:22,600
Speaker 1: fewer young families in the twenty tens. That will only

711
00:34:22,640 --> 00:34:25,960
Speaker 1: be compounded by a factor of like five, considering the

712
00:34:25,960 --> 00:34:28,600
Speaker 1: fifty percent increase in housing that has come since twenty

713
00:34:28,640 --> 00:34:31,880
Speaker 1: twenty one alone, and from gen Z and younger millennials

714
00:34:31,920 --> 00:34:34,880
Speaker 1: people like myself. So if you put that together and

715
00:34:34,920 --> 00:34:37,799
Speaker 1: you can just see the existential nature through which lack

716
00:34:37,840 --> 00:34:40,640
Speaker 1: of property ownership, lack of stake, and lack of hope

717
00:34:40,640 --> 00:34:43,080
Speaker 1: for people have for a foundation of the future. It

718
00:34:43,160 --> 00:34:46,480
Speaker 1: is not a surprise of not only politics, but of

719
00:34:46,600 --> 00:34:48,960
Speaker 1: like everything. And you know, I have all these boomers

720
00:34:48,960 --> 00:34:51,040
Speaker 1: in my replies. We're always like, well, you have no

721
00:34:51,160 --> 00:34:54,360
Speaker 1: idea if you look at you know, housing and costs

722
00:34:54,400 --> 00:34:57,279
Speaker 1: and all that. Guys, Look, facts are real. You can

723
00:34:57,320 --> 00:35:00,360
Speaker 1: go and look. The average home home buyer in nineteen

724
00:35:00,360 --> 00:35:04,800
Speaker 1: eighty five was twenty nine years old. I've remember that

725
00:35:04,840 --> 00:35:06,759
Speaker 1: graphic I used to put up all the time about

726
00:35:06,840 --> 00:35:10,400
Speaker 1: nineteen seventy one, where if you look at the median wage,

727
00:35:10,440 --> 00:35:13,839
Speaker 1: medium home price, medium cost of car, and everything, it

728
00:35:13,880 --> 00:35:16,880
Speaker 1: was just dramatically more affordable. Like, I won't be lectured

729
00:35:17,040 --> 00:35:19,400
Speaker 1: by people who were literally able to buy a home

730
00:35:19,480 --> 00:35:22,160
Speaker 1: in the nineteen eighties and then experience the bowl markets

731
00:35:22,400 --> 00:35:25,239
Speaker 1: of the nineteen nineties and made an absolute shit pot

732
00:35:25,239 --> 00:35:27,480
Speaker 1: of money, and then are using the political system to

733
00:35:27,560 --> 00:35:30,279
Speaker 1: their own benefit into lobby for property tax deduction, free

734
00:35:30,280 --> 00:35:32,839
Speaker 1: social security, free health care, and every other free thing

735
00:35:32,880 --> 00:35:36,040
Speaker 1: that they can possibly think of. So I don't know,

736
00:35:36,760 --> 00:35:39,920
Speaker 1: I look at that study, I look at the you know,

737
00:35:39,960 --> 00:35:42,399
Speaker 1: the modern election. Like you said with Zora on their

738
00:35:42,400 --> 00:35:44,600
Speaker 1: calling of radical, I mean, in my opinion, like it's

739
00:35:44,719 --> 00:35:46,319
Speaker 1: nothing compared to what is.

740
00:35:46,280 --> 00:35:49,080
Speaker 2: Coming I mean his policy platform actually is quite moder

741
00:35:49,160 --> 00:35:52,840
Speaker 2: or like if you pull the entire population, every single

742
00:35:52,880 --> 00:35:55,560
Speaker 2: one of the things that his core promises that he

743
00:35:55,640 --> 00:35:57,799
Speaker 2: ran on and gets the majority support, So he is

744
00:35:57,840 --> 00:36:01,439
Speaker 2: actually the median, like the moderate in terms of where

745
00:36:01,440 --> 00:36:04,279
Speaker 2: the population is. I think you have another update for

746
00:36:04,360 --> 00:36:07,320
Speaker 2: us those dager Oh yes, Israelly influence on ourselves.

747
00:36:07,320 --> 00:36:09,239
Speaker 1: I've been wanting to I've been wanting to cover this

748
00:36:09,360 --> 00:36:12,160
Speaker 1: for a while since we broke that story about Alexandrovitch.

749
00:36:12,280 --> 00:36:14,239
Speaker 1: Just an update for everybody. Let's put it up here

750
00:36:14,280 --> 00:36:17,040
Speaker 1: on the screen in case anybody I have not forgotten. Please,

751
00:36:17,960 --> 00:36:19,839
Speaker 1: I've not forgotten about the story. I do still track

752
00:36:19,880 --> 00:36:22,080
Speaker 1: it and I have people in Vegas who send me tips.

753
00:36:22,320 --> 00:36:24,000
Speaker 1: A little bit about this. Put D four up there

754
00:36:24,040 --> 00:36:25,480
Speaker 1: on the screen just so I can break it down.

755
00:36:25,680 --> 00:36:29,840
Speaker 1: You'll remember Tom Alexandrovitch, the Israeli cybersecurity official who was

756
00:36:30,000 --> 00:36:33,799
Speaker 1: ensnared in a bust where for Las Vegas PD and

757
00:36:34,120 --> 00:36:38,000
Speaker 1: HSI at the Homeland Security at the Homeland Security Agency

758
00:36:38,280 --> 00:36:41,719
Speaker 1: teamed up where they were chatting with men on these

759
00:36:41,840 --> 00:36:47,680
Speaker 1: apps proposing as underage as underage teenagers in this case

760
00:36:47,719 --> 00:36:51,440
Speaker 1: a fifteen year old girl and basically luring these individuals

761
00:36:51,440 --> 00:36:54,239
Speaker 1: in for an operation to try and get you know,

762
00:36:54,320 --> 00:36:57,400
Speaker 1: people would be pedophiles off the streets, and so this

763
00:36:57,520 --> 00:37:02,200
Speaker 1: is really official. Tom Alexandrovitch was taken into custody. He admits,

764
00:37:02,480 --> 00:37:06,400
Speaker 1: under waves his miranda rights, he admits in the interrogation,

765
00:37:06,680 --> 00:37:09,840
Speaker 1: starts dropping all these hints about meeting with the FBI,

766
00:37:10,040 --> 00:37:14,080
Speaker 1: meeting with the NSA, immediately flies back to Israel after

767
00:37:14,120 --> 00:37:19,320
Speaker 1: posting bail. He appears via zoom in court from Israel,

768
00:37:19,640 --> 00:37:24,160
Speaker 1: and his most recent defense all hinges on APP verification. Okay,

769
00:37:24,320 --> 00:37:26,600
Speaker 1: so the lawyers, by the way, very pros were lawyers

770
00:37:26,680 --> 00:37:29,960
Speaker 1: who are representing this man in Vegas are challenging the

771
00:37:30,080 --> 00:37:35,080
Speaker 1: undercover officer because they're saying that because the APPS terms

772
00:37:35,080 --> 00:37:38,080
Speaker 1: of service say that you have to be eighteen to

773
00:37:38,160 --> 00:37:41,319
Speaker 1: use it, that he had reason to believe that the

774
00:37:41,320 --> 00:37:44,520
Speaker 1: person he was chatting with was eighteen years old. Belies

775
00:37:44,600 --> 00:37:47,480
Speaker 1: the fact that in the transcript they're like I'm fifteen.

776
00:37:48,280 --> 00:37:52,399
Speaker 1: Like say like, I am fifteen years old, and he

777
00:37:53,000 --> 00:37:55,160
Speaker 1: under again, you can go and read the docs that

778
00:37:55,280 --> 00:37:58,239
Speaker 1: I released. He waves his miranda and basically admits to

779
00:37:58,280 --> 00:38:01,480
Speaker 1: it while he's testifying or not testified but he's been questioned,

780
00:38:01,640 --> 00:38:05,960
Speaker 1: presumably not under THEE in the interview with FBI officials.

781
00:38:06,000 --> 00:38:08,440
Speaker 1: It's all out there, you know, directly. A second officer

782
00:38:08,520 --> 00:38:11,520
Speaker 1: testified that a source shown to Alexandrovitch in the video

783
00:38:11,560 --> 00:38:14,960
Speaker 1: call said they said, quote of age just over eighteen.

784
00:38:15,600 --> 00:38:19,800
Speaker 1: The decoy literally said, quote, I'm only fifteen. I'm only fifteen.

785
00:38:19,880 --> 00:38:22,839
Speaker 1: I'm not allowed in over since I'm only fifteen. Said

786
00:38:22,880 --> 00:38:25,480
Speaker 1: it twice in the transcript, according to the grand jury

787
00:38:25,800 --> 00:38:29,480
Speaker 1: documents that have been released. So during the interview, Alexandrovitch

788
00:38:29,520 --> 00:38:32,400
Speaker 1: is saying, oh, well, she pushed me to show up

789
00:38:32,400 --> 00:38:35,360
Speaker 1: in an uber with a condom in my pocket. Okay,

790
00:38:35,680 --> 00:38:38,480
Speaker 1: let's take her to circ to Sole. So good luck

791
00:38:38,520 --> 00:38:41,240
Speaker 1: with that in court. I don't know, I mean could work.

792
00:38:41,640 --> 00:38:43,480
Speaker 1: He has remained out of custody and out of the country.

793
00:38:43,480 --> 00:38:45,800
Speaker 1: He's on a ten thousand dollars bail and the Clark

794
00:38:45,840 --> 00:38:50,400
Speaker 1: County District Judge will be hearing petitions on November twenty fourth.

795
00:38:50,600 --> 00:38:53,480
Speaker 1: Trial is scheduled for March, so we'll see, we'll see

796
00:38:53,520 --> 00:38:56,320
Speaker 1: how it goes. And remember, all of this is happening

797
00:38:56,360 --> 00:38:59,239
Speaker 1: to all of this is happening in absentia. He's not here.

798
00:38:59,239 --> 00:39:02,000
Speaker 1: He's not committed to coming back. It's all coming by zoom.

799
00:39:02,280 --> 00:39:06,480
Speaker 1: The judge actually admonished the lawyer earlier for not for

800
00:39:06,560 --> 00:39:09,520
Speaker 1: not appearing even via zoom and saying that the lawyer

801
00:39:09,840 --> 00:39:14,080
Speaker 1: needed his her needed permission for all of this. So

802
00:39:14,320 --> 00:39:16,799
Speaker 1: we're still following the case and these Raelis and other

803
00:39:16,840 --> 00:39:18,920
Speaker 1: people are just hoping this stuff will go away. But

804
00:39:18,960 --> 00:39:20,960
Speaker 1: we will continue to keep you guys updated.

805
00:39:23,520 --> 00:39:25,359
Speaker 2: All right, Well, we were talking about zoron before. Let's

806
00:39:25,360 --> 00:39:27,880
Speaker 2: go ahead and check in on how the Wall Street

807
00:39:27,920 --> 00:39:31,120
Speaker 2: types are handling his victory in New York City.

808
00:39:31,239 --> 00:39:31,879
Speaker 3: Here is the.

809
00:39:31,920 --> 00:39:35,560
Speaker 8: NBC wealthy who might be looking for a therapist after

810
00:39:35,760 --> 00:39:39,839
Speaker 8: yesterday's election, and more importantly, we're looking for therapy when

811
00:39:39,840 --> 00:39:43,680
Speaker 8: they heard that Lena Kham was joining the transition.

812
00:39:43,280 --> 00:39:47,400
Speaker 7: Team, which just goes to show you looking back at

813
00:39:47,400 --> 00:39:51,880
Speaker 7: the Biden administration. I mean, she had a very important

814
00:39:52,000 --> 00:39:54,080
Speaker 7: job in the and we had her on all the time,

815
00:39:54,120 --> 00:39:55,520
Speaker 7: and her I think we should have her back and

816
00:39:55,560 --> 00:39:59,319
Speaker 7: talk about let's just let's just know, okay, so as

817
00:39:59,320 --> 00:40:04,400
Speaker 7: long as we know, I mean, she is a sure no,

818
00:40:04,440 --> 00:40:08,040
Speaker 7: but that's why she was running a very important yes.

819
00:40:09,719 --> 00:40:12,440
Speaker 8: Well no, I wonder what I wonder what it pretends

820
00:40:12,440 --> 00:40:14,560
Speaker 8: for business in New York. It was funny, it's a

821
00:40:14,600 --> 00:40:18,719
Speaker 8: great business. A number of business leaders in New York

822
00:40:19,560 --> 00:40:21,760
Speaker 8: reached out to me yesterday. I was traveling back from London,

823
00:40:22,360 --> 00:40:27,000
Speaker 8: and it wasn't even the election result itself, it was

824
00:40:27,040 --> 00:40:29,879
Speaker 8: when it was when this Lena Khan announcement was made.

825
00:40:30,560 --> 00:40:33,360
Speaker 8: It was like they were sort of like frozen in

826
00:40:33,440 --> 00:40:36,719
Speaker 8: place and talked. I mean, some of the texting and

827
00:40:36,840 --> 00:40:39,840
Speaker 8: back and forth was more about sort of what it

828
00:40:39,960 --> 00:40:43,200
Speaker 8: happened to the merger business, and obviously there's a lot

829
00:40:43,239 --> 00:40:45,680
Speaker 8: of bankers in this city, financiers in this city, and

830
00:40:45,719 --> 00:40:47,160
Speaker 8: sort of what the approach is. I don't know if

831
00:40:47,160 --> 00:40:51,640
Speaker 8: she's gonna have a role in the future, Can she

832
00:40:51,840 --> 00:40:53,719
Speaker 8: do though future group or not?

833
00:40:53,880 --> 00:40:58,640
Speaker 6: What my question was, this appears to nationalize a city

834
00:40:59,440 --> 00:41:02,800
Speaker 6: mayoral staff, right, instead of saying we're going to operate

835
00:41:02,840 --> 00:41:05,400
Speaker 6: the city as good managers, which is what the mayor's

836
00:41:05,480 --> 00:41:08,239
Speaker 6: job is. It somehow makes it seem like we're going

837
00:41:08,280 --> 00:41:12,799
Speaker 6: to be a platform for some national ideological I don't know.

838
00:41:13,160 --> 00:41:16,800
Speaker 2: The way Lena Khan freaks these people out is absolutely amazing.

839
00:41:16,880 --> 00:41:18,400
Speaker 2: And of course they're referring there to the fact that

840
00:41:18,440 --> 00:41:21,879
Speaker 2: she's been named to be part of the Zoran transition team.

841
00:41:22,480 --> 00:41:24,640
Speaker 3: And I mean it's just wild soccer because like.

842
00:41:24,600 --> 00:41:27,480
Speaker 1: Yeah, you would think she was some swashbuckling corporate destroyer.

843
00:41:27,600 --> 00:41:29,799
Speaker 1: Like look, no offense, Lena. I'm a fan. You know,

844
00:41:29,880 --> 00:41:32,600
Speaker 1: you definitely did some good work, but let's be honest

845
00:41:32,640 --> 00:41:35,560
Speaker 1: about what really went out undid administration.

846
00:41:35,800 --> 00:41:38,319
Speaker 2: Like I think by any reasonable metric, she was the

847
00:41:38,320 --> 00:41:42,680
Speaker 2: most effective Biden administration official. Yeah, like genuinely like trying

848
00:41:42,719 --> 00:41:46,920
Speaker 2: to deliver even if they're small victories for consumers. Also,

849
00:41:47,120 --> 00:41:50,000
Speaker 2: you know, involved in these big you know, pushback on

850
00:41:50,040 --> 00:41:53,080
Speaker 2: these giant mergers. And that's why they absolutely hate her.

851
00:41:53,160 --> 00:41:54,879
Speaker 2: I mean the war on her for the Wall Street

852
00:41:54,920 --> 00:42:00,200
Speaker 2: Journal that Matt Stoler tracked was unhinged. And so now

853
00:42:00,320 --> 00:42:02,799
Speaker 2: not only they have Zoran, but they have Lena Khan

854
00:42:03,360 --> 00:42:05,880
Speaker 2: in New York City and they are just losing their minds.

855
00:42:05,920 --> 00:42:07,719
Speaker 2: And I mean they ask a good question like, Okay, well,

856
00:42:07,719 --> 00:42:09,680
Speaker 2: what is she actually going to be doing, because when

857
00:42:09,680 --> 00:42:11,719
Speaker 2: she's at the FTC, like that makes sense, you're dealing

858
00:42:11,760 --> 00:42:13,919
Speaker 2: with all of these giant mergers and pushing.

859
00:42:13,600 --> 00:42:14,200
Speaker 3: Back on them.

860
00:42:14,239 --> 00:42:16,279
Speaker 2: But what are you going to do at the new

861
00:42:16,360 --> 00:42:20,760
Speaker 2: York City level, and there's reporting from Somemophore this morning

862
00:42:20,760 --> 00:42:23,800
Speaker 2: from Ben Smith that says, I'll just read you what

863
00:42:24,120 --> 00:42:25,880
Speaker 2: they write here about how she's seeing.

864
00:42:25,640 --> 00:42:26,520
Speaker 3: Her role in New York City.

865
00:42:26,600 --> 00:42:29,360
Speaker 2: Lenacon thinks beers at Yankee Stadium are too expensive and

866
00:42:29,360 --> 00:42:31,160
Speaker 2: that she has a law on her side. Since the

867
00:42:31,160 --> 00:42:34,040
Speaker 2: progressive antitrust crusader was added to Mayor Alexor on mum

868
00:42:34,040 --> 00:42:37,239
Speaker 2: Donnie's transition team, the business community she harangued as Chara

869
00:42:37,440 --> 00:42:41,040
Speaker 2: during Joe Biden's Federal Trade Commission has been puzzling over

870
00:42:41,080 --> 00:42:43,160
Speaker 2: what she might be up to local politics. After all,

871
00:42:43,160 --> 00:42:45,879
Speaker 2: it is a strange soapbox for trustbusting or federal law

872
00:42:46,000 --> 00:42:50,040
Speaker 2: reigns well, people familiar with the transition have an answer.

873
00:42:50,160 --> 00:42:53,799
Speaker 2: Khan has been scouring city and state laws, some overlooked

874
00:42:54,040 --> 00:42:56,560
Speaker 2: by past mayors and some too new to have been

875
00:42:56,600 --> 00:42:59,560
Speaker 2: tested yet for legal footing for Mom Donnie's priorities. It's

876
00:42:59,600 --> 00:43:02,239
Speaker 2: a skill set the Yale trained lawyer wielded while running

877
00:43:02,239 --> 00:43:04,279
Speaker 2: the FTC, where she dusted off laws some dating from

878
00:43:04,320 --> 00:43:07,520
Speaker 2: the early twentieth century and food companies under novel theories

879
00:43:07,560 --> 00:43:10,280
Speaker 2: of harm. Excavating and enforcing the law is how one

880
00:43:10,400 --> 00:43:14,520
Speaker 2: transition advisor put it. Leaner herself spoke some to this recently.

881
00:43:14,600 --> 00:43:15,440
Speaker 2: Let's take a look at that.

882
00:43:15,880 --> 00:43:19,000
Speaker 9: Coming from the FTC, I'm going to be especially focused

883
00:43:19,040 --> 00:43:21,640
Speaker 9: on things like how do we make sure that we

884
00:43:21,800 --> 00:43:25,279
Speaker 9: have a full accounting of all of the laws and

885
00:43:25,360 --> 00:43:29,359
Speaker 9: authorities that the mayor can unilaterally deploy. I think one

886
00:43:29,360 --> 00:43:31,480
Speaker 9: thing that was really shocking to me at the FTC

887
00:43:31,680 --> 00:43:35,280
Speaker 9: was just how much dormant and unused and under used

888
00:43:35,360 --> 00:43:38,880
Speaker 9: authorities had just been on the books, Like literally, Congress

889
00:43:38,880 --> 00:43:43,400
Speaker 9: had passed laws sometimes saying things as uncontroversial as it

890
00:43:43,400 --> 00:43:45,840
Speaker 9: should be illegal to say your products are made in

891
00:43:45,880 --> 00:43:48,879
Speaker 9: America when they aren't, and sometimes they had just been

892
00:43:49,000 --> 00:43:52,719
Speaker 9: ignored by the FTC and not really enforced. So, you know,

893
00:43:52,760 --> 00:43:54,759
Speaker 9: I want to make sure that to the extent that

894
00:43:54,840 --> 00:43:57,600
Speaker 9: the city has a robust set of laws that the

895
00:43:57,600 --> 00:44:00,520
Speaker 9: mayer can enforce, that we're going and understanding what is

896
00:44:00,560 --> 00:44:02,200
Speaker 9: the full authority.

897
00:44:02,320 --> 00:44:04,560
Speaker 2: And I think it's I think putting her on the

898
00:44:04,560 --> 00:44:09,040
Speaker 2: transition team is very important, both substantively and as a signal,

899
00:44:09,320 --> 00:44:11,959
Speaker 2: because what she is good at is, like she said,

900
00:44:11,960 --> 00:44:14,960
Speaker 2: they're like scouring the laws to figure out where Zoron

901
00:44:15,120 --> 00:44:17,960
Speaker 2: actually has power and what he can do to deal with,

902
00:44:18,040 --> 00:44:19,680
Speaker 2: you know, even things like he talked about, like the

903
00:44:19,719 --> 00:44:23,719
Speaker 2: hlal cart issues and the soccer tickets being too expensive

904
00:44:23,880 --> 00:44:26,560
Speaker 2: you know for New York residents, and those sorts of

905
00:44:26,560 --> 00:44:29,319
Speaker 2: things that can improve quality of life and push back

906
00:44:29,600 --> 00:44:31,600
Speaker 2: on some of the power of some of the local

907
00:44:31,680 --> 00:44:33,879
Speaker 2: interest holders. So in a sense, I think they're they're

908
00:44:33,920 --> 00:44:35,319
Speaker 2: kind of right to be freaked down about her.

909
00:44:35,680 --> 00:44:37,960
Speaker 1: Yes, and no. I mean it's one of those where

910
00:44:38,200 --> 00:44:40,160
Speaker 1: look for them. I don't know, I don't understand these

911
00:44:40,200 --> 00:44:42,359
Speaker 1: Wall Street guys. Did you guys not get filthy rich

912
00:44:42,440 --> 00:44:44,360
Speaker 1: under the Biden administration? Like what do we all do

913
00:44:44,680 --> 00:44:47,680
Speaker 1: if they literally act as if like she decapitated them.

914
00:44:47,680 --> 00:44:50,160
Speaker 1: THEES and P was up like eighty percent under the

915
00:44:50,160 --> 00:44:51,000
Speaker 1: Biden administration.

916
00:44:51,080 --> 00:44:55,120
Speaker 2: Yeah, but you're all very wealthy merger bonuses, Okay, I mean,

917
00:44:55,280 --> 00:44:56,920
Speaker 2: and that's what I mean, that's a big part of

918
00:44:56,960 --> 00:44:57,759
Speaker 2: why they hated her.

919
00:44:57,800 --> 00:45:00,000
Speaker 3: And I mean she was like, on the one hand,

920
00:45:00,000 --> 00:45:00,359
Speaker 3: and you.

921
00:45:00,280 --> 00:45:02,520
Speaker 2: Know, we still live in a shitty like system with

922
00:45:02,640 --> 00:45:06,719
Speaker 2: terrible rigged rules. Her view, though, was somewhat revolutionary. I mean,

923
00:45:06,719 --> 00:45:09,600
Speaker 2: we had had this counter revolution in terms of anti

924
00:45:09,640 --> 00:45:12,880
Speaker 2: trust law basically being dormant, where as long as you

925
00:45:12,920 --> 00:45:15,799
Speaker 2: could show that like you were lowering prices for consumers,

926
00:45:15,840 --> 00:45:17,759
Speaker 2: then it didn't matter how big you were, It didn't

927
00:45:17,760 --> 00:45:20,080
Speaker 2: matter how exploitative, it didn't matter if you were Amazon

928
00:45:20,080 --> 00:45:22,760
Speaker 2: and screwing over all these third party sellers. The only

929
00:45:22,800 --> 00:45:27,480
Speaker 2: relevant thing was price. And her view was no that

930
00:45:27,640 --> 00:45:30,880
Speaker 2: you have to look at the broader picture here and

931
00:45:31,000 --> 00:45:34,600
Speaker 2: see the way that these consolidations of power have important

932
00:45:34,680 --> 00:45:39,759
Speaker 2: impacts not just on price, but on labor, by on markets,

933
00:45:40,040 --> 00:45:43,160
Speaker 2: on the ability for small businesses to compete. And so

934
00:45:43,480 --> 00:45:45,759
Speaker 2: that was a dramatic change. I don't think they're wrong

935
00:45:45,960 --> 00:45:48,480
Speaker 2: to feel like, you know, this was someone who was

936
00:45:48,520 --> 00:45:51,320
Speaker 2: a real enemy, especially since she did not any longer

937
00:45:51,360 --> 00:45:54,200
Speaker 2: but did have some purchase both with the Democrats and

938
00:45:54,280 --> 00:45:55,000
Speaker 2: with the Republicans.

939
00:45:55,000 --> 00:45:57,000
Speaker 3: So I'm interested to see what she has to do.

940
00:45:57,080 --> 00:45:59,160
Speaker 2: We can also check in on the Upper East Side

941
00:45:59,160 --> 00:46:02,839
Speaker 2: moms who are equal freaking out in a totally hysterical way,

942
00:46:03,000 --> 00:46:07,520
Speaker 2: apparently on Facebook group chats about Zoron's election. Put E

943
00:46:07,640 --> 00:46:10,200
Speaker 2: three up on the screen. This was part of an

944
00:46:10,360 --> 00:46:13,120
Speaker 2: entire article. E three guys up on the screen. This

945
00:46:13,160 --> 00:46:15,120
Speaker 2: is part of an entire article, I think from New

946
00:46:15,200 --> 00:46:20,400
Speaker 2: York magazine digging into these these Facebook groups and their reaction.

947
00:46:20,640 --> 00:46:25,240
Speaker 2: Upper east Side famously, very very well where Jeffrey Epstein

948
00:46:25,280 --> 00:46:30,080
Speaker 2: had his mansion and went for Cuomo pretty solidly, and

949
00:46:30,120 --> 00:46:31,160
Speaker 2: so this they write here.

950
00:46:31,160 --> 00:46:32,760
Speaker 3: After New York City mayor race.

951
00:46:32,680 --> 00:46:34,759
Speaker 2: Was called for Zoran the night of November fourth, the

952
00:46:34,800 --> 00:46:37,880
Speaker 2: mothers of the Upper east Side began to panic shocked

953
00:46:37,960 --> 00:46:41,000
Speaker 2: when Facebook user wrote anonymously in the Moms of the

954
00:46:41,080 --> 00:46:43,480
Speaker 2: Upper east Side group, which has thirty five thousand members,

955
00:46:43,520 --> 00:46:45,440
Speaker 2: with all my love for New York City, I can't

956
00:46:45,440 --> 00:46:48,480
Speaker 2: believe fifty percent plus of the city voted for this joker,

957
00:46:48,880 --> 00:46:52,520
Speaker 2: wondering who's actually leaving to wear Florida. Residents of the

958
00:46:52,520 --> 00:46:56,280
Speaker 2: neighborhoods synonymous with Gilded Age mansions and tony private schools,

959
00:46:56,360 --> 00:46:58,680
Speaker 2: had voted for Cuomo, a staunch support of Israel, who

960
00:46:58,680 --> 00:47:00,400
Speaker 2: campaigned on a tough on crime jot to buy a

961
00:47:00,440 --> 00:47:03,320
Speaker 2: twenty four point margin. The more than three hundred comments

962
00:47:03,320 --> 00:47:06,160
Speaker 2: responding to that anonymous post are full of mothers looking

963
00:47:06,200 --> 00:47:09,879
Speaker 2: for property in New Jersey or Florida, predicting that Mamdani's

964
00:47:09,880 --> 00:47:12,520
Speaker 2: promise to make buses free will lead criminals to rape

965
00:47:12,560 --> 00:47:14,480
Speaker 2: and kill innocent passengers.

966
00:47:13,960 --> 00:47:17,279
Speaker 3: And airing their worries that New York City.

967
00:47:17,120 --> 00:47:22,560
Speaker 2: Is on its way to becoming nineteen thirties Germany. I mean,

968
00:47:22,880 --> 00:47:26,200
Speaker 2: the level of hysteria, like you can never point to

969
00:47:26,320 --> 00:47:28,840
Speaker 2: a single thing this man has done or comment that

970
00:47:28,920 --> 00:47:32,360
Speaker 2: he's made that would make you think he's some Sharia

971
00:47:32,640 --> 00:47:37,960
Speaker 2: law implement implementing is longest gie hottist who just like

972
00:47:38,080 --> 00:47:40,160
Speaker 2: hates Jews and is going to massacre that. I mean,

973
00:47:40,160 --> 00:47:45,040
Speaker 2: it's just completely hysterical, insane thinking. And yet like I

974
00:47:45,080 --> 00:47:47,560
Speaker 2: think they actually believe some of this crime, Like I

975
00:47:47,600 --> 00:47:50,800
Speaker 2: think they have bought into the green Blatt Adl line

976
00:47:50,880 --> 00:47:52,200
Speaker 2: about who zoron Mamdania.

977
00:47:52,320 --> 00:47:53,919
Speaker 1: So I'm gonna say, let me well, first of all, okay,

978
00:47:53,960 --> 00:47:55,560
Speaker 1: let me split the difference, because the free bus thing

979
00:47:55,640 --> 00:47:58,160
Speaker 1: is actually fair in terms of talking about criminals all

980
00:47:58,200 --> 00:48:00,880
Speaker 1: over the New York City subway system. It's exactly peachy

981
00:48:01,200 --> 00:48:03,720
Speaker 1: in terms of homelessness on the New York City subway

982
00:48:03,800 --> 00:48:05,560
Speaker 1: right now, So let's put that one to the side.

983
00:48:05,680 --> 00:48:08,239
Speaker 1: Although even then again, saying raping and killing is like,

984
00:48:08,280 --> 00:48:10,720
Speaker 1: I mean, it's we can calm down.

985
00:48:11,000 --> 00:48:12,840
Speaker 2: We could say that they're still aren't riding the freaking

986
00:48:12,960 --> 00:48:16,359
Speaker 2: bus anyway, These wealthy ladies on the Upper East Side.

987
00:48:16,480 --> 00:48:18,400
Speaker 2: I guarantee you they haven't seen the inside of a

988
00:48:18,400 --> 00:48:19,320
Speaker 2: public bus.

989
00:48:19,080 --> 00:48:19,440
Speaker 1: In New York.

990
00:48:19,600 --> 00:48:21,919
Speaker 3: They're on the top ofly in their entire fair point.

991
00:48:21,960 --> 00:48:24,640
Speaker 1: So let's just say, let's protect poorer residents who rely

992
00:48:24,719 --> 00:48:27,239
Speaker 1: on the bus from criminal homeless people. Okay, let's say that.

993
00:48:27,280 --> 00:48:29,600
Speaker 1: And by the way, that will be a genuine problem

994
00:48:29,640 --> 00:48:32,160
Speaker 1: for Zoron if the whole place gets overrun with a

995
00:48:32,200 --> 00:48:35,279
Speaker 1: bunch of fentanyl addicts, that will actually be something that

996
00:48:35,320 --> 00:48:38,480
Speaker 1: people should focus on now on the nineteen thirties subway

997
00:48:38,680 --> 00:48:42,840
Speaker 1: or the nineteen thirties point. This is, in my opinion,

998
00:48:43,280 --> 00:48:47,440
Speaker 1: a massive indictment of the ad L and of the

999
00:48:47,480 --> 00:48:51,200
Speaker 1: liberal Zionist media project in general, the free press, the

1000
00:48:51,239 --> 00:48:53,080
Speaker 1: ADL and all this because by the way, all these

1001
00:48:53,160 --> 00:48:55,840
Speaker 1: ladies they're probably Democrats, okay, or at least voted Democrat

1002
00:48:55,880 --> 00:48:58,400
Speaker 1: like I voted for Cuomo. They probably voted for Obama

1003
00:48:58,719 --> 00:49:01,719
Speaker 1: in two thousand and eight, and Eric Adams right exactly, So, like,

1004
00:49:01,800 --> 00:49:04,640
Speaker 1: let's let's be very clear about like who these people are.

1005
00:49:04,920 --> 00:49:09,920
Speaker 1: They are consuming a large like media apparatus which is

1006
00:49:10,000 --> 00:49:15,840
Speaker 1: built on exploiting as much fear of their past as possible.

1007
00:49:16,080 --> 00:49:20,680
Speaker 1: And I think that that's really irresponsible and drained, and

1008
00:49:20,719 --> 00:49:23,040
Speaker 1: that's what's led to a lot of this, Like they're

1009
00:49:23,640 --> 00:49:27,080
Speaker 1: they're actually spreading stuff saying like that. And by the way,

1010
00:49:27,120 --> 00:49:29,160
Speaker 1: it's not just about Zoran these are it's also about

1011
00:49:29,160 --> 00:49:31,239
Speaker 1: people like me or you know, like any others who

1012
00:49:31,239 --> 00:49:33,560
Speaker 1: speak out against the State of Israel. They're like they

1013
00:49:33,560 --> 00:49:37,560
Speaker 1: are straight up anti Jewish, Okay, that's that's what they, like,

1014
00:49:37,600 --> 00:49:42,320
Speaker 1: they really believe, like the pogrum stuff, and like they're

1015
00:49:42,680 --> 00:49:45,319
Speaker 1: buying guns or like afraid for their lives, and like,

1016
00:49:45,600 --> 00:49:48,800
Speaker 1: I think that's really dangerous because the point that everyone's

1017
00:49:48,800 --> 00:49:50,360
Speaker 1: been trying to make from the beginning is like Christmas

1018
00:49:50,400 --> 00:49:52,720
Speaker 1: of the State of Israel is not Christman Jews like period,

1019
00:49:52,840 --> 00:49:54,400
Speaker 1: And no matter how many times you say it, you

1020
00:49:54,480 --> 00:49:57,080
Speaker 1: still get branded as a literal Jew hater. And like

1021
00:49:57,160 --> 00:49:59,799
Speaker 1: I have experienced this, like actually lost like people in

1022
00:49:59,800 --> 00:50:02,320
Speaker 1: my life and others who are like, dude, you hate Jews,

1023
00:50:02,360 --> 00:50:04,239
Speaker 1: And it's like I don't, like, what do I have

1024
00:50:04,320 --> 00:50:08,120
Speaker 1: to say to convince you otherwise? Nothing? Actually, it turns

1025
00:50:08,120 --> 00:50:11,200
Speaker 1: out like no matter what I say, criticizing the Strait

1026
00:50:11,200 --> 00:50:13,839
Speaker 1: of Israel actually just whips them up into like such

1027
00:50:13,840 --> 00:50:17,000
Speaker 1: a state level of hysteria. I guess because of the

1028
00:50:17,040 --> 00:50:18,719
Speaker 1: way they were raised about you know, Israel is the

1029
00:50:18,760 --> 00:50:20,839
Speaker 1: only place that we're safe and all, which I get,

1030
00:50:20,960 --> 00:50:22,719
Speaker 1: but you know, like that doesn't mean that I have

1031
00:50:22,760 --> 00:50:25,759
Speaker 1: to buy into it. Yeah, I know, it's like but

1032
00:50:25,760 --> 00:50:28,560
Speaker 1: then yeah, that's the whole problem. It starts to break down.

1033
00:50:28,600 --> 00:50:30,560
Speaker 1: It's like, guys, you all live here, like, you know,

1034
00:50:30,680 --> 00:50:32,359
Speaker 1: it's a bit so safe, and why don't you leave.

1035
00:50:32,440 --> 00:50:35,200
Speaker 1: Nobody's saying you have to stay. You know, it's like, yeah,

1036
00:50:35,239 --> 00:50:38,600
Speaker 1: if that's your homeland, then go. You know, we don't care. Actually,

1037
00:50:39,120 --> 00:50:42,400
Speaker 1: but the whole point is just that they have whipped

1038
00:50:42,440 --> 00:50:45,560
Speaker 1: themselves into a level of hysteria where they actually believe this.

1039
00:50:45,760 --> 00:50:49,160
Speaker 1: It's so deeply irresponsible. And the ADL and those all

1040
00:50:49,200 --> 00:50:52,280
Speaker 1: those other people they absolutely are to blame also because

1041
00:50:53,080 --> 00:50:55,480
Speaker 1: they're whipping them up, you know, the ADL and others

1042
00:50:55,680 --> 00:50:58,320
Speaker 1: for their own like they have a self interested reason,

1043
00:50:58,840 --> 00:51:02,399
Speaker 1: like because they're I think a bunch of donations they want,

1044
00:51:02,480 --> 00:51:05,760
Speaker 1: Like do you guys see how they actually prosper whenever

1045
00:51:05,800 --> 00:51:08,799
Speaker 1: people are afraid. That's the issue that I have with

1046
00:51:08,880 --> 00:51:11,920
Speaker 1: all of these like groups is that they've created the

1047
00:51:11,960 --> 00:51:15,040
Speaker 1: situation where some rich lady in the upper west Side

1048
00:51:15,239 --> 00:51:18,480
Speaker 1: or East Side is like actually worried about the Jewish children.

1049
00:51:18,640 --> 00:51:20,840
Speaker 1: I'm sorry, I don't think that that's a major concern

1050
00:51:21,200 --> 00:51:24,200
Speaker 1: with soorma mini or frankly, in any major American city.

1051
00:51:24,280 --> 00:51:26,160
Speaker 1: I'll say it. I'll say it, Okay, I don't think

1052
00:51:26,160 --> 00:51:28,359
Speaker 1: it's a big problem. If it's about an Israel thing,

1053
00:51:28,360 --> 00:51:30,200
Speaker 1: that's a little bit different, but it's not. You know,

1054
00:51:30,360 --> 00:51:33,400
Speaker 1: most people, nobody really cares that much whether you're Jewish

1055
00:51:33,480 --> 00:51:35,880
Speaker 1: or Hindu or whatever. You can mostly walk down the street.

1056
00:51:36,040 --> 00:51:38,560
Speaker 1: I've traveled the whole country and that mostly never had

1057
00:51:38,560 --> 00:51:40,759
Speaker 1: an issue. I don't know, like it's like, is that

1058
00:51:40,800 --> 00:51:45,839
Speaker 1: really why? Why does that feel so that feels transgressive

1059
00:51:45,880 --> 00:51:47,840
Speaker 1: to say at this point, like they want you to

1060
00:51:47,880 --> 00:51:49,960
Speaker 1: believe that. It's like being whipped up to a crazy.

1061
00:51:49,719 --> 00:51:52,560
Speaker 2: At this point. I think there's genuine rise of anti Semitism.

1062
00:51:52,680 --> 00:51:54,520
Speaker 2: I think it has everything to do with the practices

1063
00:51:54,560 --> 00:51:56,960
Speaker 2: of the ADL and the insistence that every Jewish person

1064
00:51:57,160 --> 00:51:59,880
Speaker 2: be conflated with this genocidal state of Israel, and the

1065
00:52:00,080 --> 00:52:04,520
Speaker 2: insane censoriousness around any legitimate criticism of Israel whatsoever. Yeah,

1066
00:52:04,560 --> 00:52:06,640
Speaker 2: I do actually think that that is fueling a significant

1067
00:52:06,719 --> 00:52:08,560
Speaker 2: rise in anti see the rise of Nick fuent Does

1068
00:52:08,760 --> 00:52:12,440
Speaker 2: on the right and how many young conservatives buy into

1069
00:52:12,480 --> 00:52:17,080
Speaker 2: his genuinely neo Nazi views, Like you know, these ladies

1070
00:52:17,120 --> 00:52:20,240
Speaker 2: and their hysteria are a small subset of what helps

1071
00:52:20,239 --> 00:52:25,200
Speaker 2: to fuel that genuine anti Semitic rise and sentiment. And

1072
00:52:25,239 --> 00:52:29,319
Speaker 2: like I said that the insistence that every Jewish person is,

1073
00:52:29,960 --> 00:52:31,800
Speaker 2: you know, that Israel's are number one issue and that

1074
00:52:31,840 --> 00:52:34,880
Speaker 2: they're absolutely committed to these genocide that is being committed

1075
00:52:34,880 --> 00:52:35,399
Speaker 2: against Pallace.

1076
00:52:35,440 --> 00:52:37,239
Speaker 1: But that's why that way of fuel actual reasons. That's

1077
00:52:37,239 --> 00:52:39,360
Speaker 1: my point about the ADL is that there they like

1078
00:52:39,440 --> 00:52:42,080
Speaker 1: it that way. They want people to be charismatic because

1079
00:52:42,120 --> 00:52:42,800
Speaker 1: that's their business.

1080
00:52:42,840 --> 00:52:44,640
Speaker 3: That's the only way they can make money their business model.

1081
00:52:44,680 --> 00:52:47,160
Speaker 2: I mean, that's Israel's entire business model, Like the only

1082
00:52:47,239 --> 00:52:50,640
Speaker 2: way that like, the more anti Semitism there is, the

1083
00:52:50,640 --> 00:52:52,680
Speaker 2: more they can make their argument about. That's why we

1084
00:52:52,719 --> 00:52:54,760
Speaker 2: have to say they have the Jewish state, et cetera.

1085
00:52:54,920 --> 00:52:57,600
Speaker 1: So Thephesi incentives, by the way run and everything. How

1086
00:52:57,600 --> 00:53:00,359
Speaker 1: many years have I been talking about BLM, ac LU

1087
00:53:00,400 --> 00:53:03,200
Speaker 1: and all these other places who profit off of like

1088
00:53:03,480 --> 00:53:05,759
Speaker 1: you know, It's like the Human Rights Campaign. They were

1089
00:53:05,800 --> 00:53:07,960
Speaker 1: dead after the gay marriage happened. Oh and then the

1090
00:53:08,000 --> 00:53:10,719
Speaker 1: trans thing became their billion dollar new call. This is

1091
00:53:10,760 --> 00:53:13,239
Speaker 1: the case for all of these bullshit nonprofits just by

1092
00:53:13,280 --> 00:53:15,200
Speaker 1: the way, and so like that's my issue is that

1093
00:53:15,400 --> 00:53:18,160
Speaker 1: they're basically doing the exact same woke playbook that they

1094
00:53:18,200 --> 00:53:20,960
Speaker 1: allegedly criticize people for all over the years. In a

1095
00:53:20,960 --> 00:53:23,240
Speaker 1: lot of ways, these people are the biggest snowflakes that exists.

1096
00:53:23,280 --> 00:53:26,719
Speaker 1: Look at read this shit. This is snowflake behavior. And

1097
00:53:26,719 --> 00:53:28,080
Speaker 1: by the way, if you if you don't want to

1098
00:53:28,080 --> 00:53:30,160
Speaker 1: worry about public buses, nobody forces you to live in

1099
00:53:30,160 --> 00:53:33,000
Speaker 1: New York City. Okay, nobody forced you to live in

1100
00:53:33,040 --> 00:53:36,000
Speaker 1: New York. You chose to actually live in an urban

1101
00:53:36,239 --> 00:53:40,319
Speaker 1: area you don't want to, right, if you don't want

1102
00:53:40,320 --> 00:53:40,680
Speaker 1: to worry.

1103
00:53:40,560 --> 00:53:42,239
Speaker 2: About to do it, I just promise you the rest

1104
00:53:42,239 --> 00:53:43,359
Speaker 2: of the city will not work.

1105
00:53:43,640 --> 00:53:46,120
Speaker 1: You can live in a suburb and nobody would carry

1106
00:53:46,800 --> 00:53:48,759
Speaker 1: And I'm not saying, look, everybody has a right to

1107
00:53:48,760 --> 00:53:51,440
Speaker 1: feel safe and all that. And like I said, I

1108
00:53:51,480 --> 00:53:53,439
Speaker 1: think that the free bust thing, you know, the left

1109
00:53:53,480 --> 00:53:55,000
Speaker 1: is going to have to contend with what it's like

1110
00:53:55,040 --> 00:53:57,160
Speaker 1: to actually have to live in a society and to

1111
00:53:57,320 --> 00:54:01,640
Speaker 1: police like violent thug behavior for people who are repeat criminals.

1112
00:54:01,719 --> 00:54:03,840
Speaker 1: Good luck with that, Zorn. We'll see if the BLM

1113
00:54:03,880 --> 00:54:07,160
Speaker 1: activists actually let you govern the city properly. But that

1114
00:54:07,320 --> 00:54:10,760
Speaker 1: is actually a very separate question than then whether Jews

1115
00:54:10,840 --> 00:54:13,440
Speaker 1: are safe in New York City or not. The question,

1116
00:54:13,600 --> 00:54:16,560
Speaker 1: by the way, again, it should be, is everyone safe

1117
00:54:16,560 --> 00:54:18,560
Speaker 1: in New York City? Why can't we just say that? Like,

1118
00:54:18,600 --> 00:54:20,959
Speaker 1: why can't everybody just be safe in New York City?

1119
00:54:21,000 --> 00:54:23,640
Speaker 1: And of course it's like this, it's like this victim

1120
00:54:23,680 --> 00:54:28,160
Speaker 1: mentality that has been totally totally propped up by this

1121
00:54:28,400 --> 00:54:32,040
Speaker 1: entire like NGO industrial complex, which by the way, again

1122
00:54:32,120 --> 00:54:35,719
Speaker 1: feeds this victimhood. It's sick actually because you know what

1123
00:54:35,880 --> 00:54:38,160
Speaker 1: why it's bad is you know, I almost feel bad

1124
00:54:38,160 --> 00:54:40,000
Speaker 1: for them, like they're they're living in a state of

1125
00:54:40,040 --> 00:54:44,200
Speaker 1: hysteria like online. That's horrible. That's a bad state of

1126
00:54:44,239 --> 00:54:46,480
Speaker 1: mind to be in. Anybody who's living that way, like

1127
00:54:46,520 --> 00:54:49,160
Speaker 1: you need help for real. I don't know I blame

1128
00:54:49,200 --> 00:54:53,520
Speaker 1: anybody about it. I mean, yes, you're also right, by

1129
00:54:53,520 --> 00:54:56,440
Speaker 1: the way, can I just say Tony's private school? What

1130
00:54:56,560 --> 00:54:59,160
Speaker 1: a great word? I forgot the use of that word,

1131
00:54:59,200 --> 00:55:03,359
Speaker 1: the word tony tony as describing aristocratic. That is a

1132
00:55:03,400 --> 00:55:06,480
Speaker 1: real throw bus. That's some good lexica writing there, vocab.

1133
00:55:06,719 --> 00:55:10,279
Speaker 2: All right, well, speaking of class dynamics, I guess we'll

1134
00:55:10,320 --> 00:55:14,319
Speaker 2: say we've got joining us now a spokesperson for the

1135
00:55:14,360 --> 00:55:17,920
Speaker 2: Starbucks Workers United union to make a big announcement.

1136
00:55:18,000 --> 00:55:19,319
Speaker 3: Let's get to that, all right, guys.

1137
00:55:19,360 --> 00:55:23,200
Speaker 2: We've got some big breaking labor news this morning, and

1138
00:55:23,320 --> 00:55:26,960
Speaker 2: so joining us to make a significant announcement is Michelle Eisen.

1139
00:55:27,000 --> 00:55:30,000
Speaker 2: She's the national spokesperson for Starbucks Workers United.

1140
00:55:30,200 --> 00:55:33,640
Speaker 3: She's also a more than fifteen year plus barista at

1141
00:55:33,719 --> 00:55:34,760
Speaker 3: the Buffalo store.

1142
00:55:34,760 --> 00:55:38,120
Speaker 10: Correct, Michelle, Yes, I was at the Buffalo location, the

1143
00:55:38,120 --> 00:55:40,360
Speaker 10: first one to organize in the US back in twenty

1144
00:55:40,360 --> 00:55:40,799
Speaker 10: twenty one.

1145
00:55:41,000 --> 00:55:41,440
Speaker 3: Amazing.

1146
00:55:41,480 --> 00:55:43,719
Speaker 2: Well, welcome to the show, and why don't you just

1147
00:55:43,840 --> 00:55:45,400
Speaker 2: let people know what you guys are up to?

1148
00:55:46,840 --> 00:55:50,520
Speaker 10: So this morning, Starbucks baristas went out on our largest

1149
00:55:50,600 --> 00:55:54,319
Speaker 10: unfair labor practice strike on the campaign to date. There

1150
00:55:54,320 --> 00:55:56,920
Speaker 10: are over one thousand baristas right now in front of

1151
00:55:56,960 --> 00:56:01,759
Speaker 10: their stores picketing, protesting the company's refusal to return to

1152
00:56:01,800 --> 00:56:05,000
Speaker 10: the bargaining table with new proposals that meet our remaining

1153
00:56:05,000 --> 00:56:09,520
Speaker 10: demands and they're vicious union busting, and we are in

1154
00:56:09,719 --> 00:56:13,920
Speaker 10: over forty cities currently and prepared to escalate accordingly if

1155
00:56:13,920 --> 00:56:17,680
Speaker 10: the Starbucks, if Starbucks does not respond to our demands, and.

1156
00:56:17,680 --> 00:56:19,160
Speaker 1: So tell us a little bit about you know, it's

1157
00:56:19,160 --> 00:56:21,840
Speaker 1: been several years. We covered the origins of the Starbucks

1158
00:56:21,920 --> 00:56:25,880
Speaker 1: unionization movement here. What's the life like been with the company,

1159
00:56:26,040 --> 00:56:29,560
Speaker 1: you know, acquiescing to certain demands that they're been union busting.

1160
00:56:29,600 --> 00:56:31,760
Speaker 1: What's the relationship for like right now with management?

1161
00:56:32,400 --> 00:56:34,680
Speaker 10: Okay, well, it's been a wild ride. It's been four years.

1162
00:56:34,680 --> 00:56:36,680
Speaker 10: You're right, it has been a significant amount of time.

1163
00:56:38,480 --> 00:56:40,760
Speaker 10: It's unfortunate that I have to report that the company

1164
00:56:40,840 --> 00:56:45,600
Speaker 10: spent most of that time union busting, violating US labor

1165
00:56:45,680 --> 00:56:49,279
Speaker 10: law left and right. They are the most egregious violators

1166
00:56:49,320 --> 00:56:52,080
Speaker 10: of US labor law and modern history. That's not debatable.

1167
00:56:52,800 --> 00:56:57,520
Speaker 10: They have found liable guilty over four hundred times. ALJA

1168
00:56:57,800 --> 00:57:01,120
Speaker 10: judges across the country have found themty of violating workers

1169
00:57:01,160 --> 00:57:03,640
Speaker 10: rights over four hundred times. There are over seven hundred

1170
00:57:03,760 --> 00:57:07,560
Speaker 10: pending unfair labor practice charges that have yet to be litigated,

1171
00:57:08,160 --> 00:57:10,040
Speaker 10: and just this year alone, they committed one hundred and

1172
00:57:10,080 --> 00:57:13,440
Speaker 10: twenty five more so back in twenty twenty four, the

1173
00:57:13,480 --> 00:57:16,760
Speaker 10: company approached the union and said, hey, we're done fighting.

1174
00:57:17,200 --> 00:57:19,560
Speaker 10: We want to reach an agreement. We are promising by

1175
00:57:19,600 --> 00:57:21,919
Speaker 10: the end of twenty twenty four to reach a fair

1176
00:57:21,960 --> 00:57:25,280
Speaker 10: contract deal with our unionized workforce, as well as resolved

1177
00:57:25,320 --> 00:57:27,959
Speaker 10: the outstanding legal issues. They have failed to do both

1178
00:57:27,960 --> 00:57:31,960
Speaker 10: of those things and instead continued to fight workers every

1179
00:57:32,000 --> 00:57:34,400
Speaker 10: step of the way and violate us labor lot and

1180
00:57:34,480 --> 00:57:37,640
Speaker 10: workers are absolutely tired of it. There are a few

1181
00:57:37,680 --> 00:57:40,720
Speaker 10: remaining demands after nine solid months of bargaining back in

1182
00:57:40,760 --> 00:57:44,200
Speaker 10: twenty twenty four, that the company has just refused to

1183
00:57:44,680 --> 00:57:48,040
Speaker 10: give us any real proposals or solutions on, and those

1184
00:57:48,080 --> 00:57:51,840
Speaker 10: are more take home pay, like making sure their workers

1185
00:57:51,840 --> 00:57:56,080
Speaker 10: can pay their bills, fixing the staffing issues in our stores,

1186
00:57:56,120 --> 00:57:58,920
Speaker 10: which are just atrocious. If you've gone into a Starbucks

1187
00:57:58,960 --> 00:58:02,000
Speaker 10: anytime recently, you'll see very under staff stores. And at

1188
00:58:02,000 --> 00:58:04,360
Speaker 10: the meantime, at the same time, barisas are not being

1189
00:58:04,400 --> 00:58:07,080
Speaker 10: given the hours they need to pay their bills, and

1190
00:58:07,120 --> 00:58:10,360
Speaker 10: then continuing to violate the law and refusing to resolve

1191
00:58:10,480 --> 00:58:13,560
Speaker 10: any of these unfair labor practices that are just hanging

1192
00:58:13,640 --> 00:58:17,280
Speaker 10: over their heads and really hurting the brand reputation hurting

1193
00:58:17,320 --> 00:58:21,440
Speaker 10: their workers, and workers are ready to escalate. Accordingly, we

1194
00:58:22,520 --> 00:58:26,000
Speaker 10: set a time for the company. We launched the strike

1195
00:58:26,040 --> 00:58:29,000
Speaker 10: authorization vote a couple of weeks ago. We said you

1196
00:58:29,080 --> 00:58:33,880
Speaker 10: need to return to us with some resolutions by November thirteenth,

1197
00:58:33,920 --> 00:58:36,120
Speaker 10: which is Red Cup Day. It's an iconic day for

1198
00:58:36,160 --> 00:58:39,360
Speaker 10: the company. Here are our demands which have been very

1199
00:58:39,400 --> 00:58:42,400
Speaker 10: clear to you for the last six months, and they

1200
00:58:42,440 --> 00:58:45,400
Speaker 10: failed to return. So workers are in action right now

1201
00:58:45,440 --> 00:58:47,000
Speaker 10: and they're going to stay out there and they're going

1202
00:58:47,040 --> 00:58:50,120
Speaker 10: to get bigger and stronger until the company does return.

1203
00:58:50,720 --> 00:58:53,520
Speaker 3: How many stores do you have unionized at this point, Michelle.

1204
00:58:53,680 --> 00:58:56,120
Speaker 10: We have won over six hundred and fifty locations in

1205
00:58:56,200 --> 00:59:00,160
Speaker 10: forty five states and DC. But unfortunately the company he

1206
00:59:00,200 --> 00:59:03,080
Speaker 10: did announce that large round of store closures about a

1207
00:59:03,120 --> 00:59:07,360
Speaker 10: month ago. So there are currently five hundred and fifty

1208
00:59:07,600 --> 00:59:11,960
Speaker 10: open union locations, and that's over eleven thousand Starbucks baristas

1209
00:59:12,040 --> 00:59:12,760
Speaker 10: that are unionized.

1210
00:59:12,840 --> 00:59:15,760
Speaker 2: And how is the treatment of the unionized stores in

1211
00:59:15,800 --> 00:59:18,680
Speaker 2: barist as compared to the non unionized.

1212
00:59:19,120 --> 00:59:22,320
Speaker 10: Quite honestly, every Starbucks barista is suffering right now. Yeah,

1213
00:59:22,800 --> 00:59:25,200
Speaker 10: all of the policies that have rolled out under Brian

1214
00:59:25,320 --> 00:59:27,800
Speaker 10: Nickel have only made workers jobs harder, and they have

1215
00:59:27,960 --> 00:59:31,400
Speaker 10: not improved the environments in these stores. They have not

1216
00:59:31,560 --> 00:59:34,640
Speaker 10: improved the customer experience at all, which is why we've

1217
00:59:34,640 --> 00:59:38,040
Speaker 10: actually only seen our organizing increase under the reign of

1218
00:59:38,080 --> 00:59:41,600
Speaker 10: Brian Nickel. We've organized over one hundred and sixty stores,

1219
00:59:41,640 --> 00:59:43,959
Speaker 10: I think just so since he stepped into that role.

1220
00:59:44,280 --> 00:59:47,720
Speaker 10: So non union or union workers are recognizing that this

1221
00:59:47,800 --> 00:59:49,800
Speaker 10: company is not willing to step up and take care

1222
00:59:49,800 --> 00:59:52,200
Speaker 10: of them. They are willing to invest millions upon millions

1223
00:59:52,240 --> 00:59:56,439
Speaker 10: of dollars in other places, like ninety six million dollar

1224
00:59:57,440 --> 01:00:01,000
Speaker 10: pay package that Brian Nickel got just the first four

1225
01:00:01,040 --> 01:00:03,720
Speaker 10: months of his employment with the company. They spend eighty

1226
01:00:03,760 --> 01:00:06,360
Speaker 10: one million dollars on a four day manager's conference in

1227
01:00:06,440 --> 01:00:09,400
Speaker 10: Vegas this past June. So we know the company has money.

1228
01:00:09,440 --> 01:00:12,919
Speaker 10: They are obviously not hurting for money, but unfortunately they're

1229
01:00:12,960 --> 01:00:16,560
Speaker 10: not investing in their hourly workforce, the people who bring

1230
01:00:16,600 --> 01:00:20,320
Speaker 10: in that revenue, the people who create those relationships with

1231
01:00:20,360 --> 01:00:23,360
Speaker 10: the customers that get them to come back into these

1232
01:00:23,360 --> 01:00:26,960
Speaker 10: stores and spend money every single day. They're just they're

1233
01:00:27,000 --> 01:00:30,040
Speaker 10: not putting the money in the right place, and the

1234
01:00:30,200 --> 01:00:34,320
Speaker 10: unionized workers are fighting very hard to improve this business,

1235
01:00:34,520 --> 01:00:37,120
Speaker 10: like we want the company to be successful. We want

1236
01:00:37,120 --> 01:00:40,280
Speaker 10: the company to succeed. It would be counter productive for

1237
01:00:40,400 --> 01:00:43,200
Speaker 10: us to not want that, and we've presented a lot

1238
01:00:43,240 --> 01:00:46,000
Speaker 10: of options to the company to help fix these issues.

1239
01:00:46,040 --> 01:00:48,000
Speaker 10: Wouldn't it be nice to walk into a Starbucks for

1240
01:00:48,040 --> 01:00:52,240
Speaker 10: your peppermintmocha this holiday season and not have to wait

1241
01:00:52,280 --> 01:00:55,280
Speaker 10: forty minutes, not have to see two or three baristas

1242
01:00:55,360 --> 01:00:57,920
Speaker 10: running around doing the job of five or six people

1243
01:00:58,360 --> 01:01:02,080
Speaker 10: because they simply have not allotted enough labor to cover

1244
01:01:02,120 --> 01:01:06,360
Speaker 10: the business that that store is doing. It's wild to

1245
01:01:06,400 --> 01:01:09,000
Speaker 10: me when we see or I hear a store manager

1246
01:01:09,040 --> 01:01:11,760
Speaker 10: say something like, oh, well, you know, people just don't

1247
01:01:11,800 --> 01:01:15,280
Speaker 10: want to work. There are baristas who are dying for hours,

1248
01:01:15,280 --> 01:01:17,680
Speaker 10: who are begging to be scheduled so that they can

1249
01:01:17,680 --> 01:01:19,919
Speaker 10: pay their bills, so that they can qualify for these

1250
01:01:19,960 --> 01:01:24,280
Speaker 10: amazing benefits the company so says they offer, and they're

1251
01:01:24,320 --> 01:01:26,520
Speaker 10: just simply not being scheduled. So this is not a

1252
01:01:26,520 --> 01:01:30,000
Speaker 10: matter of not having enough workers. It's a matter of

1253
01:01:30,040 --> 01:01:33,200
Speaker 10: not scheduling these workers enough to cover the needs of

1254
01:01:33,240 --> 01:01:35,480
Speaker 10: the business and to make sure that they have the

1255
01:01:35,520 --> 01:01:40,200
Speaker 10: ability to qualify for benefits and pay their bills. So

1256
01:01:40,320 --> 01:01:43,760
Speaker 10: many Starbucks baristas depend on Snap and Medicaid. Why is

1257
01:01:43,800 --> 01:01:47,880
Speaker 10: a multi billion dollar corporation have employees that are subsidized

1258
01:01:47,920 --> 01:01:51,200
Speaker 10: by the government that doesn't. That just doesn't compute. Yeah, great,

1259
01:01:52,880 --> 01:01:56,760
Speaker 10: and so we're just we're done waiting around. Baristas are tired.

1260
01:01:57,200 --> 01:01:59,720
Speaker 10: This will get bigger. It will be the biggest in

1261
01:01:59,800 --> 01:02:02,880
Speaker 10: law lounguest strike in company history if the company doesn't

1262
01:02:03,360 --> 01:02:07,200
Speaker 10: return to meet the demands. And we're asking our allies

1263
01:02:07,240 --> 01:02:10,400
Speaker 10: to stand with us. For every single barista who's out

1264
01:02:10,400 --> 01:02:14,120
Speaker 10: there on the strike line, a dozen allies have committed

1265
01:02:14,160 --> 01:02:16,440
Speaker 10: to not cross the picket line and not shop at

1266
01:02:16,440 --> 01:02:20,520
Speaker 10: Starbucks while workers are on strike. That equates to tens

1267
01:02:20,560 --> 01:02:23,360
Speaker 10: of thousands of people who are not going to spend

1268
01:02:23,400 --> 01:02:27,880
Speaker 10: their money at Starbucks this holiday season. So this, this

1269
01:02:27,920 --> 01:02:31,080
Speaker 10: is a very clear message, and we are We're ready.

1270
01:02:31,120 --> 01:02:33,760
Speaker 10: We're ready, We've been ready for months, We've been ready

1271
01:02:33,760 --> 01:02:37,320
Speaker 10: for years. Really to settle this contract. We know it

1272
01:02:37,320 --> 01:02:40,200
Speaker 10: can be done for less than a single day sales.

1273
01:02:40,800 --> 01:02:43,440
Speaker 10: It will cost less to settle a multi year contract

1274
01:02:43,440 --> 01:02:46,040
Speaker 10: with the union than less than one single day salves

1275
01:02:46,120 --> 01:02:48,920
Speaker 10: for this company, less than they paid Brian Nickel by

1276
01:02:48,960 --> 01:02:51,480
Speaker 10: millions of dollars for the first four months of his employment,

1277
01:02:51,880 --> 01:02:54,560
Speaker 10: less than they spent on this four day manager's conference

1278
01:02:54,560 --> 01:02:57,040
Speaker 10: in Vegas, which was over eighty million dollars.

1279
01:02:57,960 --> 01:03:00,200
Speaker 2: Michelle tell us a little bit more about the those

1280
01:03:00,560 --> 01:03:04,200
Speaker 2: those allies who have committed to standing in solidarity with you,

1281
01:03:04,240 --> 01:03:07,280
Speaker 2: and then also, finally, what are you asking of the public.

1282
01:03:08,800 --> 01:03:11,720
Speaker 10: So we had a sign on letter that went out

1283
01:03:11,800 --> 01:03:15,920
Speaker 10: from a bunch of different organizations. I believe the total

1284
01:03:16,000 --> 01:03:19,320
Speaker 10: number was in the tens of millions of of They

1285
01:03:19,360 --> 01:03:22,000
Speaker 10: represented tens of millions of people, and they all said,

1286
01:03:22,520 --> 01:03:25,480
Speaker 10: you know, the folks we represent are committing to not

1287
01:03:25,600 --> 01:03:27,680
Speaker 10: cross the picket line should workers have to go on

1288
01:03:27,720 --> 01:03:31,120
Speaker 10: an unfair labor practice strike. And here we are, and

1289
01:03:31,200 --> 01:03:32,960
Speaker 10: we're not going to spend our money at Starbucks. We're

1290
01:03:32,960 --> 01:03:35,320
Speaker 10: not gonna buy gift cards for our kids teachers, We're

1291
01:03:35,320 --> 01:03:37,240
Speaker 10: not going to go get our peppermint moca, you know,

1292
01:03:37,360 --> 01:03:39,440
Speaker 10: while we're doing our holiday shopping. We're just going to

1293
01:03:39,480 --> 01:03:42,520
Speaker 10: stay away from Starbucks will workers or on strike. And

1294
01:03:42,600 --> 01:03:46,040
Speaker 10: so we've got student activists at their colleges doing the

1295
01:03:46,040 --> 01:03:50,160
Speaker 10: same thing, talking to their fellow peers, talking to their

1296
01:03:50,200 --> 01:03:56,320
Speaker 10: administrations about not having Starbucks products on their campuses and work.

1297
01:03:56,440 --> 01:03:59,560
Speaker 10: And we've got labor allies. We've got, you know, the

1298
01:03:59,720 --> 01:04:03,240
Speaker 10: entire US labor movement, we've got the global labor movement

1299
01:04:03,280 --> 01:04:07,400
Speaker 10: standing behind these workers because you know, we're all the

1300
01:04:07,440 --> 01:04:10,800
Speaker 10: working class. Unless you're in the top one percent, you

1301
01:04:10,880 --> 01:04:18,360
Speaker 10: are a worker and you rely on your employer to

1302
01:04:18,360 --> 01:04:22,280
Speaker 10: to compensate you fairly for your labor, you know. And

1303
01:04:22,360 --> 01:04:25,439
Speaker 10: so they have just pledged to not cross the picket

1304
01:04:25,480 --> 01:04:27,960
Speaker 10: line and to not spend their money at Starbucks. And

1305
01:04:28,000 --> 01:04:31,520
Speaker 10: so what we're asking is that people uphold that we

1306
01:04:31,640 --> 01:04:35,040
Speaker 10: have a site, no Contract, no Cooffee dot org. You

1307
01:04:35,080 --> 01:04:37,560
Speaker 10: can go there, you can get up to date information

1308
01:04:37,880 --> 01:04:42,360
Speaker 10: on striking locations. You can sign our pledge to not

1309
01:04:42,520 --> 01:04:44,360
Speaker 10: cross the picket line and to not spend your money

1310
01:04:44,400 --> 01:04:48,760
Speaker 10: at Starbucks while workers are striking, and you can join

1311
01:04:48,880 --> 01:04:52,960
Speaker 10: us on the picket line. Workers are making a sacrifice.

1312
01:04:53,000 --> 01:04:56,640
Speaker 10: This is the holiday season we are you know, workers

1313
01:04:56,640 --> 01:05:00,960
Speaker 10: are sacrificing their time with their families, They're sacrificing wages,

1314
01:05:01,000 --> 01:05:05,120
Speaker 10: they're sacrificing potentially, you know, losing benefits over not going

1315
01:05:05,160 --> 01:05:09,080
Speaker 10: into into work being on strike to protest this company's

1316
01:05:09,120 --> 01:05:12,400
Speaker 10: failure to return with new proposals that solve these issues,

1317
01:05:12,720 --> 01:05:17,640
Speaker 10: and failure to resolve these legal issues. And so say hello, honk,

1318
01:05:17,680 --> 01:05:20,200
Speaker 10: if you see them on strike, join for a little bit,

1319
01:05:20,320 --> 01:05:24,280
Speaker 10: drop off donuts. Just there are There will always be

1320
01:05:24,360 --> 01:05:27,800
Speaker 10: more workers in this country. Then there will be CEOs

1321
01:05:28,280 --> 01:05:31,200
Speaker 10: and we have to stand together. So this is this

1322
01:05:31,280 --> 01:05:35,120
Speaker 10: is that moment, and this isn't This is an easy win,

1323
01:05:35,320 --> 01:05:38,520
Speaker 10: and I think the company ultimately will see that this

1324
01:05:38,560 --> 01:05:40,920
Speaker 10: can be settled. This can be settled so quickly. We

1325
01:05:40,920 --> 01:05:42,960
Speaker 10: could get back to the table tomorrow. We could solve

1326
01:05:43,000 --> 01:05:46,080
Speaker 10: the issues, We could improve workers' lives, we could improve

1327
01:05:46,120 --> 01:05:48,720
Speaker 10: the experience for the customers, and overall it will improve

1328
01:05:48,760 --> 01:05:49,680
Speaker 10: the company as a whole.

1329
01:05:50,000 --> 01:05:53,640
Speaker 2: All right, Michelle, no contract nocoffee dot org is the website.

1330
01:05:53,920 --> 01:05:54,800
Speaker 3: Couldn't agree with you.

1331
01:05:54,800 --> 01:05:58,120
Speaker 2: More about the importance of working people being organized. The

1332
01:05:58,240 --> 01:05:59,960
Speaker 2: lack of that organization, I think is one of the

1333
01:06:00,040 --> 01:06:02,680
Speaker 2: big things this country is suffering from right now. So

1334
01:06:03,040 --> 01:06:05,440
Speaker 2: thank you so much for your commitment and the work

1335
01:06:05,480 --> 01:06:06,760
Speaker 2: that you've done on this front.

1336
01:06:07,200 --> 01:06:10,320
Speaker 1: Thank you, pleasure, Thanks for watching, guys, We appreciate it.

1337
01:06:10,320 --> 01:06:11,640
Speaker 1: Friday Show tomorrow, See you then,