1
00:00:00,480 --> 00:00:03,400
Speaker 1: Ridiculous crime. It's a production of iHeartRadio.

2
00:00:03,480 --> 00:00:06,319
Speaker 2: Zion, Elizabeth Dutton zelling.

3
00:00:07,720 --> 00:00:08,319
Speaker 3: Good to see you.

4
00:00:08,360 --> 00:00:11,160
Speaker 2: How are you? Oh, I'm doing okay. How about you?

5
00:00:11,280 --> 00:00:13,120
Speaker 3: I'm feeling good, nice, doing.

6
00:00:12,920 --> 00:00:14,400
Speaker 2: Well, getting ready for the holidays.

7
00:00:14,640 --> 00:00:16,480
Speaker 3: I am dam How about you?

8
00:00:16,680 --> 00:00:18,000
Speaker 2: Oh I'm super excited.

9
00:00:18,120 --> 00:00:19,840
Speaker 3: Are do you celebrate Toyota thun?

10
00:00:20,079 --> 00:00:22,080
Speaker 2: Oh? My god, Happy Hondred days to you?

11
00:00:22,440 --> 00:00:23,480
Speaker 3: Thank you, thank you so much.

12
00:00:23,640 --> 00:00:25,639
Speaker 2: I mean, do you remember when it was, you know,

13
00:00:26,000 --> 00:00:28,680
Speaker 2: before it was woke to say these things or anti woke.

14
00:00:28,720 --> 00:00:29,800
Speaker 2: I don't even know which way that goes.

15
00:00:29,960 --> 00:00:31,880
Speaker 3: Look, all I want is for everyone to have a

16
00:00:31,880 --> 00:00:32,839
Speaker 3: December to remember.

17
00:00:33,000 --> 00:00:36,640
Speaker 2: Yeah, you can't even celebrate a wintertime sales event without

18
00:00:36,680 --> 00:00:38,879
Speaker 2: some people trying to like poopoo it well and.

19
00:00:38,880 --> 00:00:42,479
Speaker 3: You say something like doorbusters and everyone gets upset with

20
00:00:42,520 --> 00:00:43,680
Speaker 3: you like it's bad word.

21
00:00:43,800 --> 00:00:46,160
Speaker 2: Have a Lexus December to remember, right?

22
00:00:46,320 --> 00:00:52,240
Speaker 3: You know, Bogo, you know it's ridiculous.

23
00:00:51,760 --> 00:00:54,840
Speaker 2: I do, Elizabeth. In fact, you know, as I mentioned

24
00:00:54,840 --> 00:00:57,639
Speaker 2: the holidays, I've been trying to do something that's very

25
00:00:57,640 --> 00:01:01,320
Speaker 2: difficult and ridiculously difficult in fact, which is Christmas shop.

26
00:01:01,160 --> 00:01:02,240
Speaker 3: For you for me?

27
00:01:02,680 --> 00:01:04,640
Speaker 2: Yeah, so I just sent you what I was looking

28
00:01:04,680 --> 00:01:07,320
Speaker 2: at online to get and.

29
00:01:06,800 --> 00:01:08,760
Speaker 3: It text mess you know.

30
00:01:08,800 --> 00:01:12,520
Speaker 2: It's also ridiculous. There is a distinct lack of law

31
00:01:12,520 --> 00:01:14,160
Speaker 2: and order fan art on Betsy.

32
00:01:14,400 --> 00:01:15,560
Speaker 3: How much do I need it?

33
00:01:16,080 --> 00:01:17,640
Speaker 2: So that's the best I came up with.

34
00:01:17,800 --> 00:01:19,400
Speaker 3: Can I have that for Christmas? Santa?

35
00:01:20,120 --> 00:01:23,400
Speaker 2: You are interested in that? Okay? So that is a

36
00:01:23,560 --> 00:01:25,760
Speaker 2: fan art watercolor of Jerry Orbach.

37
00:01:25,959 --> 00:01:27,360
Speaker 3: I mean, are you kidding?

38
00:01:27,440 --> 00:01:29,680
Speaker 2: But I didn't have any options like that. One's really good.

39
00:01:29,720 --> 00:01:32,520
Speaker 2: Like I'm really I'm a fan of the artist and

40
00:01:32,560 --> 00:01:35,520
Speaker 2: what they did with that. But I was looking. I

41
00:01:35,520 --> 00:01:37,360
Speaker 2: was expecting to be a bunch like all kinds of

42
00:01:37,360 --> 00:01:40,200
Speaker 2: watercolors and a crylics to choose from. But no, I'm like,

43
00:01:40,280 --> 00:01:42,880
Speaker 2: war is my fan art.

44
00:01:42,680 --> 00:01:44,560
Speaker 3: That I'm obsessed with? Bad fan art?

45
00:01:44,640 --> 00:01:44,920
Speaker 2: Yes?

46
00:01:45,240 --> 00:01:47,320
Speaker 3: And like I think you get the most quality ones

47
00:01:47,360 --> 00:01:50,559
Speaker 3: with either Brad Pitt or Leonardo DiCaprio.

48
00:01:50,720 --> 00:01:51,240
Speaker 2: Why is that?

49
00:01:51,360 --> 00:01:52,800
Speaker 3: I don't know, But there's are the ones.

50
00:01:52,600 --> 00:01:53,400
Speaker 2: That just noticed.

51
00:01:53,520 --> 00:01:56,120
Speaker 3: A lot of people want to drawm and nobody can.

52
00:01:56,320 --> 00:01:57,440
Speaker 2: A lot of drawing for memory.

53
00:01:57,560 --> 00:02:02,720
Speaker 3: Yeah, it's incredible the fan art I love that. I'm

54
00:02:02,720 --> 00:02:03,800
Speaker 3: the worst to buy gifts.

55
00:02:03,600 --> 00:02:05,760
Speaker 2: For ridiculously, hard ridiculously because if I.

56
00:02:05,720 --> 00:02:07,800
Speaker 3: Want something, I just go get it. Yeah, I don't,

57
00:02:07,920 --> 00:02:12,360
Speaker 3: and I don't like asking people for things, and I

58
00:02:12,400 --> 00:02:15,120
Speaker 3: don't like people giving me things out of obligation, Like

59
00:02:15,480 --> 00:02:17,360
Speaker 3: so just we'll get you something, and then it's just

60
00:02:17,400 --> 00:02:20,000
Speaker 3: something where I'm like, what do I do with this?

61
00:02:20,120 --> 00:02:21,600
Speaker 3: I have too much stuff already, so.

62
00:02:21,560 --> 00:02:23,880
Speaker 2: There'll be no surprise this year. That's what you're kidding.

63
00:02:24,040 --> 00:02:26,359
Speaker 3: I love it. I love not. I got to get

64
00:02:26,400 --> 00:02:27,440
Speaker 3: you something, don't.

65
00:02:28,240 --> 00:02:30,119
Speaker 2: I've got way too much stuff and I sell most

66
00:02:30,120 --> 00:02:30,280
Speaker 2: of it.

67
00:02:30,400 --> 00:02:32,400
Speaker 3: Oh see now, and then you accuse me.

68
00:02:32,560 --> 00:02:35,079
Speaker 2: No, I'm kidding entirely. Please get me something. If you don't,

69
00:02:35,080 --> 00:02:36,720
Speaker 2: I don't know what's going to be have of our

70
00:02:36,800 --> 00:02:38,200
Speaker 2: friendship on my.

71
00:02:38,200 --> 00:02:41,040
Speaker 3: List, I've got you Dave Admiral iHeart.

72
00:02:41,160 --> 00:02:42,200
Speaker 2: Oh yeah, he.

73
00:02:42,280 --> 00:02:44,680
Speaker 3: Is horrible to buy for, very difficult because you have

74
00:02:44,760 --> 00:02:47,080
Speaker 3: to spend like a minimum of fifteen thousand dollars.

75
00:02:47,160 --> 00:02:48,480
Speaker 2: It's got one of everything, so I.

76
00:02:48,400 --> 00:02:50,320
Speaker 3: Just steal stuff. I don't have that.

77
00:02:50,320 --> 00:02:52,120
Speaker 2: Kind of send him an AI gift.

78
00:02:52,440 --> 00:02:54,399
Speaker 3: Oh you know what, I think? I've or a cameo.

79
00:02:56,440 --> 00:02:56,800
Speaker 2: Cameo?

80
00:02:56,880 --> 00:03:00,000
Speaker 3: Do you think are the boy we love to hate?

81
00:03:00,480 --> 00:03:02,960
Speaker 3: George Santos is still doing cameos?

82
00:03:03,000 --> 00:03:05,240
Speaker 2: I sincerely dot it, but then again he may needed

83
00:03:05,320 --> 00:03:07,200
Speaker 2: still to pay for back as legal costs. I have

84
00:03:07,200 --> 00:03:09,200
Speaker 2: no idea how his finances are life or just like

85
00:03:09,240 --> 00:03:10,240
Speaker 2: get on his feet money.

86
00:03:10,240 --> 00:03:13,440
Speaker 3: Maybe everybody gets a cameo of some sort this Christmas.

87
00:03:13,600 --> 00:03:14,880
Speaker 2: Please pick somebody else from me?

88
00:03:17,760 --> 00:03:19,280
Speaker 3: Do you want to know what else is ridiculous?

89
00:03:19,360 --> 00:03:20,000
Speaker 2: Oh? Please?

90
00:03:20,520 --> 00:03:23,079
Speaker 3: All I can tell you is it's a good thing.

91
00:03:24,240 --> 00:03:48,720
Speaker 3: M This is Ridiculous Crime A podcast about absurd and

92
00:03:48,800 --> 00:03:53,840
Speaker 3: outrageous capers. His cons. It's always ninety nine percent murder

93
00:03:53,880 --> 00:03:55,960
Speaker 3: free and one ridiculous.

94
00:03:56,400 --> 00:03:57,280
Speaker 2: Damn right.

95
00:03:59,120 --> 00:04:01,400
Speaker 3: You know how I have that list of celebrities that

96
00:04:01,440 --> 00:04:02,520
Speaker 3: I'd like to be friends with.

97
00:04:03,240 --> 00:04:05,960
Speaker 2: I was unaware of that, but I like knowing that

98
00:04:06,040 --> 00:04:06,640
Speaker 2: about you.

99
00:04:06,640 --> 00:04:09,040
Speaker 3: Think about how I think I've mentioned you.

100
00:04:09,080 --> 00:04:11,000
Speaker 2: Do you have an even unofficial and I like to

101
00:04:11,000 --> 00:04:13,080
Speaker 2: think scroll No.

102
00:04:13,040 --> 00:04:18,000
Speaker 3: I don't have it written down wall. You know Courtney Love,

103
00:04:18,080 --> 00:04:19,719
Speaker 3: she made a list of what she wanted in life

104
00:04:19,720 --> 00:04:22,000
Speaker 3: when she was like pre fame, and one of the

105
00:04:22,000 --> 00:04:24,400
Speaker 3: things on the list was to be friends with Michael Stipe.

106
00:04:25,200 --> 00:04:26,799
Speaker 3: And then she made that come true.

107
00:04:27,000 --> 00:04:27,920
Speaker 2: You can see what you can be.

108
00:04:28,040 --> 00:04:31,320
Speaker 3: They're good buddies. I love that. So if you could

109
00:04:31,320 --> 00:04:34,000
Speaker 3: be pals with four celebrities. Who would you pick?

110
00:04:34,160 --> 00:04:39,760
Speaker 2: Living or dead? Sar, I don't mind being friends with

111
00:04:39,839 --> 00:04:42,599
Speaker 2: dead people. Yeah, living, Okay, so I'm not adding to

112
00:04:42,600 --> 00:04:47,640
Speaker 2: my ghost friend ghost friendship. Okay, four people, four that's

113
00:04:47,680 --> 00:04:53,479
Speaker 2: that's difficult, all right. So I'm gonna go with uh

114
00:04:53,920 --> 00:04:56,640
Speaker 2: Jack White from the White Stripes. I think I pick him.

115
00:04:57,360 --> 00:04:59,760
Speaker 2: Willie Nelson. I already interviewed him, so that was fine.

116
00:04:59,760 --> 00:05:01,440
Speaker 2: I think we would hit it off. We had a

117
00:05:01,120 --> 00:05:04,640
Speaker 2: good time, good chat on the bus. I'm probably gonna

118
00:05:04,680 --> 00:05:09,840
Speaker 2: go with I mean, this is difficult because like some

119
00:05:09,880 --> 00:05:16,000
Speaker 2: of my favorites have passed, so hmmm, Eric Abadoo, because

120
00:05:16,080 --> 00:05:17,800
Speaker 2: I think just because I want to add a little

121
00:05:17,800 --> 00:05:19,640
Speaker 2: spice to my life, and she would be like she

122
00:05:19,800 --> 00:05:22,640
Speaker 2: had she has like new theories for me to consider

123
00:05:23,279 --> 00:05:25,440
Speaker 2: things I never ever thought of. I like that and

124
00:05:25,600 --> 00:05:27,880
Speaker 2: like novelty of like especially well thought out stuff.

125
00:05:28,000 --> 00:05:28,240
Speaker 3: Yeah.

126
00:05:28,279 --> 00:05:32,040
Speaker 2: And then probably Fiona Apple. I really like her and

127
00:05:32,120 --> 00:05:34,200
Speaker 2: the court watching. She and I could court watch and

128
00:05:34,240 --> 00:05:36,880
Speaker 2: talk about it. That's a good one. She's legit, you know.

129
00:05:37,040 --> 00:05:38,960
Speaker 2: So there you go off off the top of the dome.

130
00:05:39,000 --> 00:05:40,400
Speaker 2: That's my list all musicians.

131
00:05:40,440 --> 00:05:41,120
Speaker 3: That's interesting.

132
00:05:41,320 --> 00:05:43,040
Speaker 2: It is interesting because like you asked me and I

133
00:05:43,200 --> 00:05:45,520
Speaker 2: just started thinking of people who were like make me happy,

134
00:05:45,560 --> 00:05:50,040
Speaker 2: whereas some challenge obviously Erica Bete would challenge my belief systems.

135
00:05:50,240 --> 00:05:52,520
Speaker 2: But they're like, you know, I there are some living

136
00:05:52,520 --> 00:05:54,719
Speaker 2: scientists who I would like to hang out with. There

137
00:05:54,760 --> 00:05:57,760
Speaker 2: are some great noble states women and men who'd like

138
00:05:57,800 --> 00:05:59,840
Speaker 2: to hang out with. But you asked me like who

139
00:05:59,839 --> 00:06:01,960
Speaker 2: I want his friends? I don't know if I want them,

140
00:06:02,040 --> 00:06:04,520
Speaker 2: like having to call me for the holidays, and I'm like, no,

141
00:06:04,720 --> 00:06:05,640
Speaker 2: I can't come over.

142
00:06:06,040 --> 00:06:09,159
Speaker 3: Meet for lunch type thing, exactly. I My list is

143
00:06:09,200 --> 00:06:10,440
Speaker 3: like ever shifting, and I.

144
00:06:10,440 --> 00:06:13,000
Speaker 2: Think Terrence Taule, the mathematician, it would be really just

145
00:06:13,240 --> 00:06:14,720
Speaker 2: he's a cool guy. But I don't know what kind

146
00:06:14,720 --> 00:06:16,200
Speaker 2: of friend he'd be. I mean, like, is he gonna

147
00:06:16,200 --> 00:06:18,320
Speaker 2: want to like chat, you'd be like sending me one

148
00:06:18,320 --> 00:06:20,159
Speaker 2: word answers in text I don't need exactly.

149
00:06:20,279 --> 00:06:23,120
Speaker 3: He's a little busy. So my likes my list, You're

150
00:06:23,480 --> 00:06:27,080
Speaker 3: mine shifts all the time. And Eric Abodu is on

151
00:06:27,120 --> 00:06:29,480
Speaker 3: my list because I think she'd be so interesting but

152
00:06:29,560 --> 00:06:30,919
Speaker 3: also really funny.

153
00:06:31,040 --> 00:06:34,800
Speaker 2: Yeah, it's totally funny and smart and you have similar

154
00:06:34,839 --> 00:06:35,520
Speaker 2: senses of humor.

155
00:06:36,160 --> 00:06:38,919
Speaker 3: Right now, Seth Rogan I think would be cool.

156
00:06:39,160 --> 00:06:39,840
Speaker 2: That's a good one.

157
00:06:40,040 --> 00:06:44,719
Speaker 3: He's got like an interesting aesthetic and and it'd be

158
00:06:44,720 --> 00:06:48,720
Speaker 3: fun just to hang out with art historian Ben door Grosner.

159
00:06:48,960 --> 00:06:50,360
Speaker 2: Oh my god, you love him.

160
00:06:50,960 --> 00:06:52,160
Speaker 3: He's one of my favorites.

161
00:06:52,240 --> 00:06:54,359
Speaker 2: You mentioned him the other day and he entered my dream.

162
00:06:54,440 --> 00:06:56,080
Speaker 2: I was like, Bendor, what are you doing here?

163
00:06:56,720 --> 00:07:00,120
Speaker 3: Here's the thing, like the world is too much for me,

164
00:07:00,360 --> 00:07:02,240
Speaker 3: and when I need to escape it and go to

165
00:07:02,279 --> 00:07:07,080
Speaker 3: a really calm place that is not centered in where

166
00:07:07,080 --> 00:07:11,120
Speaker 3: we are right now. Bendor has these art shows like

167
00:07:11,240 --> 00:07:13,239
Speaker 3: on you know, British television.

168
00:07:14,880 --> 00:07:15,120
Speaker 2: Style.

169
00:07:15,360 --> 00:07:18,600
Speaker 3: Yeah, and so you know, and he investigates old paintings

170
00:07:18,600 --> 00:07:20,960
Speaker 3: and restores them and then like does like you know,

171
00:07:21,040 --> 00:07:24,040
Speaker 3: figures out the mysteries of them and who's actually painted.

172
00:07:25,080 --> 00:07:30,520
Speaker 3: And he's really he's smart and interesting. And then Ina Garten.

173
00:07:30,520 --> 00:07:33,200
Speaker 2: Of course, yeah, I love Flower Sister.

174
00:07:33,400 --> 00:07:35,880
Speaker 3: She read her own audiobook and you can kind of

175
00:07:35,920 --> 00:07:38,560
Speaker 3: hear when she's getting tired at the end of chapters

176
00:07:38,560 --> 00:07:41,600
Speaker 3: and she begins to elide more and more words like

177
00:07:41,720 --> 00:07:41,960
Speaker 3: I do.

178
00:07:42,360 --> 00:07:42,600
Speaker 2: Just like.

179
00:07:43,920 --> 00:07:47,560
Speaker 3: She lives the greatest life. Her husband adores her and

180
00:07:47,600 --> 00:07:50,960
Speaker 3: she him. They have a partnership. She has a Paris apartment.

181
00:07:51,760 --> 00:07:56,240
Speaker 3: She's had a successful business hit cooking and entertainment shows.

182
00:07:56,280 --> 00:07:59,560
Speaker 3: I love her cookbooks. But I learned something in her memoir.

183
00:08:00,280 --> 00:08:03,360
Speaker 3: She had a brush with the Big Dog, which one.

184
00:08:04,160 --> 00:08:07,880
Speaker 3: They operate in the same sphere, but in very different ways,

185
00:08:08,240 --> 00:08:10,800
Speaker 3: she and Tyler Perry. And I'm going to talk about

186
00:08:10,840 --> 00:08:12,040
Speaker 3: that big dog today.

187
00:08:12,200 --> 00:08:14,720
Speaker 2: Oh big dog, the big dog going to walk us all.

188
00:08:14,920 --> 00:08:18,720
Speaker 3: Sometimes we're sympathetic to the crimeers on here, sure, other

189
00:08:18,840 --> 00:08:24,920
Speaker 3: times were not. I believe in punching up, not down. Yeah,

190
00:08:24,920 --> 00:08:27,200
Speaker 3: And so when criminals go after everyday people, it really

191
00:08:27,280 --> 00:08:32,040
Speaker 3: chaps my cheeks, Saren. But when criminals go after fat cats,

192
00:08:32,760 --> 00:08:35,280
Speaker 3: I love it. And what about rich on rich crime?

193
00:08:37,120 --> 00:08:39,199
Speaker 3: And what of rich people who are being made an

194
00:08:39,240 --> 00:08:43,000
Speaker 3: example when their compatriots do even more brazen crime?

195
00:08:43,240 --> 00:08:44,720
Speaker 2: Oh yeah, the fairness scales.

196
00:08:44,840 --> 00:08:46,840
Speaker 3: Yeah, I got one for you today, The Big Dog.

197
00:08:47,520 --> 00:08:48,280
Speaker 3: Martha Stewart.

198
00:08:48,559 --> 00:08:53,800
Speaker 2: Oh why we never come? Would you consider.

199
00:08:55,600 --> 00:08:56,720
Speaker 3: I get down with Martha?

200
00:08:56,880 --> 00:09:00,240
Speaker 2: Yeah, girl, Martha, finally get pay or we back.

201
00:09:00,840 --> 00:09:04,480
Speaker 3: My mom is kind of like foul mouthed Martha Stewart.

202
00:09:04,840 --> 00:09:06,880
Speaker 3: But we used to have this running joke is that

203
00:09:07,200 --> 00:09:09,320
Speaker 3: she would come up with some sort of project or

204
00:09:09,960 --> 00:09:14,120
Speaker 3: make something you know, food wise or decorative things, and

205
00:09:14,160 --> 00:09:18,040
Speaker 3: then guaranteed like the next issue of Martha Stewart Living

206
00:09:18,040 --> 00:09:20,720
Speaker 3: would have it like on the cover. She was you know,

207
00:09:21,200 --> 00:09:25,520
Speaker 3: Martha was Yeah, Martha was tapping the phones finger on

208
00:09:25,559 --> 00:09:30,080
Speaker 3: the pulse together exactly exactly. There was a time in

209
00:09:30,080 --> 00:09:32,680
Speaker 3: her early days when her whole thing was like making

210
00:09:32,760 --> 00:09:35,880
Speaker 3: things look elegant and gracious without spending a lot of money.

211
00:09:35,960 --> 00:09:37,040
Speaker 2: Yes, I kind of remember this.

212
00:09:37,160 --> 00:09:40,240
Speaker 3: Yeah, and a lot of like entertaining hacks. Of course

213
00:09:40,280 --> 00:09:42,959
Speaker 3: that morphed over the years, but she started out more

214
00:09:42,960 --> 00:09:46,920
Speaker 3: attached to her humble roots. She was born Martha Helen

215
00:09:47,160 --> 00:09:51,000
Speaker 3: Costira in nineteen forty one in Jersey City, New Jersey.

216
00:09:51,800 --> 00:09:54,959
Speaker 3: She was the second of six kids. Her parents, Edward

217
00:09:55,000 --> 00:09:57,040
Speaker 3: and Martha, were school teachers.

218
00:09:57,120 --> 00:09:58,679
Speaker 2: Because she's a bridge and tunnel girl.

219
00:09:58,640 --> 00:10:01,880
Speaker 3: She is. Her dad later became a pharmaceutical salesman. It

220
00:10:01,920 --> 00:10:04,720
Speaker 3: was a good Polish American family, I was wondering, Yeah, yeah,

221
00:10:05,720 --> 00:10:08,880
Speaker 3: So the family they moved when Martha was young to Nutley,

222
00:10:08,920 --> 00:10:11,760
Speaker 3: New Jersey, and that's where she was raised and from

223
00:10:11,800 --> 00:10:15,920
Speaker 3: a young age she learned domestic skills, cooking, sewing like

224
00:10:16,080 --> 00:10:20,000
Speaker 3: canning and preserving under the tutelage of her mother and

225
00:10:20,200 --> 00:10:22,360
Speaker 3: also when they would go to a buffalo to visit

226
00:10:22,360 --> 00:10:26,280
Speaker 3: her grandparents and so and like her dad loved gardening,

227
00:10:27,080 --> 00:10:30,560
Speaker 3: and so his passion and his vision guided her in

228
00:10:30,600 --> 00:10:33,840
Speaker 3: that through her life and her career in high school,

229
00:10:34,040 --> 00:10:37,960
Speaker 3: strong student, smart, smart gal, she got a partial scholarship

230
00:10:38,000 --> 00:10:41,360
Speaker 3: to Barnard College, and to help pay tuition, she did

231
00:10:41,400 --> 00:10:44,800
Speaker 3: commercial modeling work. So she like print and commercials and

232
00:10:44,840 --> 00:10:48,719
Speaker 3: she even did one for like Chanel. Yeah, so at

233
00:10:48,760 --> 00:10:53,640
Speaker 3: Barnard she wanted to study chemistry, but eventually she switched

234
00:10:53,640 --> 00:10:58,720
Speaker 3: majors to art, European history and architectural history, and those

235
00:10:58,760 --> 00:11:02,520
Speaker 3: are super fascinating, that are like tempting, but unless you're

236
00:11:02,520 --> 00:11:05,080
Speaker 3: from a rich family that has all sorts of connections

237
00:11:05,120 --> 00:11:07,920
Speaker 3: these days, they'll be super tough to get a career in.

238
00:11:08,240 --> 00:11:10,959
Speaker 2: But honestly, you know, she's a little bit older than

239
00:11:10,960 --> 00:11:13,920
Speaker 2: this question would really apply. But it seems like most

240
00:11:13,960 --> 00:11:16,440
Speaker 2: people do not have a job in their major like this.

241
00:11:16,640 --> 00:11:18,720
Speaker 2: It's kind of like no longer the case. So people

242
00:11:18,720 --> 00:11:22,440
Speaker 2: don't have specialized things, right obviously, saving the sciences, I guess,

243
00:11:22,440 --> 00:11:24,680
Speaker 2: and some things are you know, mathematician, but a lot

244
00:11:24,720 --> 00:11:26,120
Speaker 2: of people that get a degree and they end up

245
00:11:26,160 --> 00:11:27,280
Speaker 2: doing a lot of doing a lot.

246
00:11:27,200 --> 00:11:28,600
Speaker 3: Of other things. Yeah, and so I mean you could

247
00:11:28,600 --> 00:11:31,280
Speaker 3: see where that could you know, would apply or as

248
00:11:31,280 --> 00:11:34,160
Speaker 3: they used to say in the old insulting days, she

249
00:11:34,240 --> 00:11:35,920
Speaker 3: was getting an mrs degree.

250
00:11:36,360 --> 00:11:38,480
Speaker 2: Oh busy. She was looking for her.

251
00:11:38,440 --> 00:11:41,600
Speaker 3: Husband, and she found one. While she was in college.

252
00:11:41,640 --> 00:11:45,520
Speaker 3: She met Andrew Stewart, a Yale law student. They married

253
00:11:45,559 --> 00:11:48,480
Speaker 3: in nineteen sixty one, and she paused her studies, but

254
00:11:48,520 --> 00:11:50,880
Speaker 3: then she later went back and finished and got her degree,

255
00:11:51,520 --> 00:11:54,200
Speaker 3: and they had one child, Alexis Stuart, and she was

256
00:11:54,200 --> 00:11:58,480
Speaker 3: born in nineteen sixty five. But she wasn't at Barnard

257
00:11:58,520 --> 00:12:01,040
Speaker 3: for an mrs. I mean it's women's college, but they

258
00:12:01,040 --> 00:12:05,160
Speaker 3: aren't sequestered anyway. After college, she worked as a stockbroker,

259
00:12:05,400 --> 00:12:08,800
Speaker 3: beginning in nineteen sixty seven. That's pretty big impressive. So yeah,

260
00:12:08,800 --> 00:12:12,400
Speaker 3: she's not getting a job within her major. The stock

261
00:12:12,440 --> 00:12:17,600
Speaker 3: market downturn in nineteen seventy three, though, influenced her decision

262
00:12:17,720 --> 00:12:18,880
Speaker 3: to pivot away.

263
00:12:20,559 --> 00:12:21,280
Speaker 2: Stagflation.

264
00:12:22,240 --> 00:12:24,760
Speaker 3: This isn't working for me, So she and her husband

265
00:12:24,760 --> 00:12:28,040
Speaker 3: they moved to Westport, Connecticut, and they bought and started

266
00:12:28,080 --> 00:12:32,680
Speaker 3: to restore this historic farmhouse called Turkey Hill, and they'd

267
00:12:32,679 --> 00:12:34,400
Speaker 3: heard about it that it was on sale. It had

268
00:12:34,440 --> 00:12:38,040
Speaker 3: around two acres. It was advertised as having quote deep

269
00:12:38,280 --> 00:12:42,640
Speaker 3: loamy soil, huge, huge trees, but like not a whole

270
00:12:42,640 --> 00:12:45,600
Speaker 3: lot else, like no, not really out buildings, no driveway,

271
00:12:45,640 --> 00:12:49,760
Speaker 3: no barn, no vistas. So they closed on the property

272
00:12:49,800 --> 00:12:52,920
Speaker 3: in nineteen seventy one for forty six thousand, seven hundred

273
00:12:52,920 --> 00:12:56,400
Speaker 3: and fifty dollars. Now that's almost three hundred and seventy

274
00:12:56,400 --> 00:13:00,400
Speaker 3: four thousand dollars today, But real estate inflation is different

275
00:13:00,440 --> 00:13:01,640
Speaker 3: from standard.

276
00:13:01,280 --> 00:13:03,400
Speaker 2: In calculation, I imagine.

277
00:13:04,440 --> 00:13:07,520
Speaker 3: So anyway, the housing market everywhere is basically obscene, That's

278
00:13:07,559 --> 00:13:12,440
Speaker 3: what I'm trying to say. So Turkey Hill, Turkey Hill

279
00:13:12,880 --> 00:13:15,880
Speaker 3: was originally built in eighteen oh five, and it had

280
00:13:15,920 --> 00:13:21,000
Speaker 3: served as an onion farm and area. Yeah, and then

281
00:13:21,040 --> 00:13:23,439
Speaker 3: it was rented out for for years and years, and

282
00:13:23,520 --> 00:13:25,760
Speaker 3: then they bought it. And she described the house as

283
00:13:25,800 --> 00:13:29,200
Speaker 3: having quote good bones, like really nice windows and wide

284
00:13:29,200 --> 00:13:34,160
Speaker 3: plank floors, seven fireplaces, but it was totally neglected.

285
00:13:34,760 --> 00:13:38,240
Speaker 2: That sounds like it's pretty big, yeah, less like one

286
00:13:38,280 --> 00:13:39,280
Speaker 2: in every single room.

287
00:13:39,440 --> 00:13:43,040
Speaker 3: Yeah, when they bought it, there were no usable bathrooms.

288
00:13:43,080 --> 00:13:48,320
Speaker 3: The kitchen did and work basement was all damp. Oh yeah,

289
00:13:48,360 --> 00:13:50,280
Speaker 3: So she and her husband, they did most of the

290
00:13:50,480 --> 00:13:53,920
Speaker 3: work themselves. In the early years, they got a lot

291
00:13:53,920 --> 00:13:58,600
Speaker 3: of antiques and you know, tried to keep it period appropriate.

292
00:13:58,040 --> 00:13:58,920
Speaker 2: And that sort of stuff.

293
00:13:59,080 --> 00:14:02,520
Speaker 3: So we're talking colonial, yeah and so, and don't forget

294
00:14:02,640 --> 00:14:06,920
Speaker 3: she studied like architectural history. So she wrote that the

295
00:14:07,000 --> 00:14:11,360
Speaker 3: experience quote gave her an appreciation of the old and antique.

296
00:14:11,640 --> 00:14:14,959
Speaker 3: The materials and methods used in our house's construction had

297
00:14:14,960 --> 00:14:17,600
Speaker 3: withstood the ravages of time better than any new house

298
00:14:17,640 --> 00:14:21,320
Speaker 3: ever would point good point. So the property and the

299
00:14:21,360 --> 00:14:25,280
Speaker 3: restoration process that became kind of like this show piece

300
00:14:25,840 --> 00:14:29,600
Speaker 3: for her tastes and her style. In nineteen seventy five,

301
00:14:30,040 --> 00:14:33,200
Speaker 3: they bought the two acre parcel next door. So now

302
00:14:33,200 --> 00:14:35,480
Speaker 3: they've got four acres, they've got this house. They're just

303
00:14:35,520 --> 00:14:38,240
Speaker 3: like fixing up, fixing up. They did all this like

304
00:14:38,400 --> 00:14:41,720
Speaker 3: excavation and kind of sculpted the land so they had

305
00:14:41,800 --> 00:14:44,280
Speaker 3: vistas now, like beautiful vistas.

306
00:14:43,960 --> 00:14:44,840
Speaker 2: Of the car.

307
00:14:45,840 --> 00:14:49,400
Speaker 3: Yeah, basically, and they built a barn, a chicken coop,

308
00:14:49,440 --> 00:14:52,720
Speaker 3: a garden shed like a garage, a free standing garage,

309
00:14:53,160 --> 00:14:55,880
Speaker 3: and then they put in an orchard, a vegetable garden,

310
00:14:55,920 --> 00:14:59,680
Speaker 3: a cutting garden, a greenhouse. The chicken coop, by the way,

311
00:14:59,680 --> 00:15:03,360
Speaker 3: she ca called La Pelais des poule the Palace of Chicken.

312
00:15:04,520 --> 00:15:07,320
Speaker 3: So they put in like stone walls out on the

313
00:15:07,440 --> 00:15:12,520
Speaker 3: property and Trellis's yeah, yeah, and so it was just

314
00:15:12,600 --> 00:15:15,960
Speaker 3: it was really really beautiful. And so by the mid

315
00:15:16,040 --> 00:15:19,880
Speaker 3: seventies she starts really leaning into like domestic and entertaining work.

316
00:15:20,240 --> 00:15:24,320
Speaker 3: In nineteen seventy six, she launched a catering business and

317
00:15:24,440 --> 00:15:27,480
Speaker 3: she ran it out of the newly refurbished basement at

318
00:15:27,560 --> 00:15:32,480
Speaker 3: Turkey Hill. Yeah. So Martha described Turkey Hill as, quote

319
00:15:32,680 --> 00:15:36,640
Speaker 3: my original farmhouse and my first laboratory. The home and

320
00:15:36,680 --> 00:15:39,840
Speaker 3: gardens look amazing. It taught us, it nurtured us, it

321
00:15:39,880 --> 00:15:42,160
Speaker 3: fed us. I would not be who I am today

322
00:15:42,160 --> 00:15:45,960
Speaker 3: without the vast knowledge I gained there. So that basement

323
00:15:46,240 --> 00:15:49,960
Speaker 3: catering company took off. Quote, in only ten years, her

324
00:15:50,040 --> 00:15:53,640
Speaker 3: basement business had become a million dollar enterprise. She's raking

325
00:15:53,720 --> 00:15:56,520
Speaker 3: it in. So she's got all these corporate clients, all

326
00:15:56,560 --> 00:16:00,720
Speaker 3: these socialites. She had this real like flare for presentation

327
00:16:00,880 --> 00:16:05,040
Speaker 3: and focus on seasonal menus, attention to detail. She's just

328
00:16:05,080 --> 00:16:09,880
Speaker 3: like growing, growing, growing the business yeah, and that catering

329
00:16:09,920 --> 00:16:13,040
Speaker 3: business took her into contact with all these affluent people

330
00:16:13,480 --> 00:16:17,120
Speaker 3: and the publishing world. So she catered a book release

331
00:16:17,160 --> 00:16:21,360
Speaker 3: party for her husband's business, and the head of Crown

332
00:16:21,400 --> 00:16:24,760
Speaker 3: Publishing noticed her and the catering, and that led to

333
00:16:24,800 --> 00:16:26,080
Speaker 3: her first cookbook deal.

334
00:16:26,160 --> 00:16:27,480
Speaker 2: He's like, do you want to do a cookbook?

335
00:16:27,560 --> 00:16:30,440
Speaker 3: This is incredible, This is incredible. So she writes this

336
00:16:30,480 --> 00:16:33,320
Speaker 3: book Entertaining that came out in nineteen eighty two, and

337
00:16:33,320 --> 00:16:36,000
Speaker 3: that took directly from like all of her catering experience.

338
00:16:36,040 --> 00:16:39,480
Speaker 3: So she had menus, recipes, party designs, and then it

339
00:16:39,520 --> 00:16:44,320
Speaker 3: also launched like her whole media lifestyle empire because it

340
00:16:44,400 --> 00:16:46,120
Speaker 3: was more than just a cookbook. There were like three

341
00:16:46,200 --> 00:16:49,960
Speaker 3: hundred recipes, hundreds of full color photographs and then it

342
00:16:50,000 --> 00:16:53,280
Speaker 3: but she kind of revolutionized the way that people entertain.

343
00:16:53,280 --> 00:16:55,800
Speaker 2: Okay, so it became like an aspirational touchdown.

344
00:16:55,480 --> 00:16:57,560
Speaker 3: Yeah, and showing like how this is how you make

345
00:16:57,600 --> 00:17:00,640
Speaker 3: a beautiful table scape with not so much. So she

346
00:17:00,760 --> 00:17:04,760
Speaker 3: got this business chugging along. She's focusing on high end

347
00:17:04,880 --> 00:17:07,600
Speaker 3: entertaining catering for rich people in like the New York

348
00:17:07,640 --> 00:17:11,520
Speaker 3: Connecticut corridor. Now she's got a book, develops her esthetic,

349
00:17:12,000 --> 00:17:15,920
Speaker 3: and so she then is basically creating a brand. That

350
00:17:16,000 --> 00:17:21,479
Speaker 3: book Entertaining was immediately seen as iconic. Bonapetite notes it

351
00:17:21,520 --> 00:17:24,959
Speaker 3: was a quote catalog of her catering feats and it

352
00:17:25,040 --> 00:17:29,760
Speaker 3: remains influential. So throughout the eighties she released additional lifestyle

353
00:17:29,800 --> 00:17:32,960
Speaker 3: and cookbooks. She worked as food and entertaining editor and

354
00:17:33,000 --> 00:17:36,880
Speaker 3: columnist for House Beautiful other magazines, and then so everyone's

355
00:17:36,960 --> 00:17:39,159
Speaker 3: just kind of seeing her as like this authority in

356
00:17:39,200 --> 00:17:40,359
Speaker 3: the domestic arts.

357
00:17:40,440 --> 00:17:40,840
Speaker 2: I Got you.

358
00:17:41,760 --> 00:17:45,320
Speaker 3: In July of nineteen eighty six, Martha signed a contract

359
00:17:45,320 --> 00:17:45,920
Speaker 3: with Kmart.

360
00:17:45,960 --> 00:17:47,760
Speaker 2: Did not see that coming, No, it was a real

361
00:17:47,800 --> 00:17:48,240
Speaker 2: coup though.

362
00:17:48,640 --> 00:17:52,200
Speaker 3: Kmart introduced a Martha Stewart line of entertainment and lifestyle

363
00:17:52,240 --> 00:17:55,080
Speaker 3: products and they put her name on stuff sold at

364
00:17:55,119 --> 00:17:58,920
Speaker 3: a discount chain, and so that is like it went

365
00:17:59,119 --> 00:18:02,040
Speaker 3: counter to what people thought was be aspirational, but it

366
00:18:02,080 --> 00:18:05,159
Speaker 3: really is bringing it to the masses, and it was

367
00:18:05,240 --> 00:18:07,280
Speaker 3: like they people say that was probably one of her

368
00:18:07,320 --> 00:18:08,520
Speaker 3: smartest decisions.

369
00:18:08,560 --> 00:18:08,919
Speaker 2: Really.

370
00:18:09,040 --> 00:18:13,600
Speaker 3: Yeah, So they have this massive advertising and catalog distribution.

371
00:18:14,600 --> 00:18:18,080
Speaker 3: They put her picture and her name in like millions

372
00:18:18,119 --> 00:18:21,679
Speaker 3: of households overnight. So suddenly she's accessible and she's not

373
00:18:21,800 --> 00:18:24,200
Speaker 3: just for the fancy set. In fact, she wants everyone

374
00:18:24,280 --> 00:18:26,080
Speaker 3: to be able to be part of the fancy set.

375
00:18:26,160 --> 00:18:29,679
Speaker 2: So she's like becoming the Jordan of entertaining, where she

376
00:18:29,760 --> 00:18:31,760
Speaker 2: does one thing nobody else has done the same, and

377
00:18:31,760 --> 00:18:33,000
Speaker 2: all of a sudden, everyone's.

378
00:18:32,680 --> 00:18:36,119
Speaker 3: Like, oh, think of this exactly exactly she goes to

379
00:18:36,200 --> 00:18:39,040
Speaker 3: the masses. Right, So, at first Camart was just selling

380
00:18:39,119 --> 00:18:42,239
Speaker 3: soft home goods that means like towels and bedding, but

381
00:18:42,280 --> 00:18:47,400
Speaker 3: then they expand into like bath fixtures, paint, window treatments,

382
00:18:47,480 --> 00:18:52,160
Speaker 3: garden stuff, and so this licensing endorsement model that she's

383
00:18:52,240 --> 00:18:55,959
Speaker 3: this like taste maker for affordable home products becomes the

384
00:18:56,000 --> 00:18:59,919
Speaker 3: core pillar of what is called her omnimedia strategy.

385
00:19:00,160 --> 00:19:00,760
Speaker 2: Ah.

386
00:19:00,800 --> 00:19:04,840
Speaker 3: So, meanwhile, her marriage falls apart. She gets divorced in

387
00:19:04,880 --> 00:19:09,399
Speaker 3: nineteen ninety. But that same year, Time incorporateds new unit.

388
00:19:09,520 --> 00:19:14,200
Speaker 3: Time Publishing Ventures tested Martha's idea for a magazine centered

389
00:19:14,240 --> 00:19:18,679
Speaker 3: on her homemaking and entertaining philosophy. So the first test

390
00:19:18,880 --> 00:19:22,719
Speaker 3: slash preview issue of Martha Stewart Living came out in

391
00:19:23,000 --> 00:19:27,480
Speaker 3: late nineteen ninety so a winter holiday issue. So the

392
00:19:27,840 --> 00:19:31,879
Speaker 3: strong public response. Time Incorporated sees it and they're like,

393
00:19:31,880 --> 00:19:33,280
Speaker 3: you know what, we're going to do a bunch of

394
00:19:33,320 --> 00:19:35,800
Speaker 3: easy year like this. This isn't just going to be

395
00:19:35,800 --> 00:19:38,399
Speaker 3: a one off, and people are eating it up. So

396
00:19:38,440 --> 00:19:41,400
Speaker 3: then they went quarterly, then they shifted to monthly by

397
00:19:41,440 --> 00:19:43,800
Speaker 3: the mid nineties. That's Martha Stewart living.

398
00:19:43,640 --> 00:19:45,280
Speaker 2: Okay, So now you're catching up to where I know

399
00:19:45,320 --> 00:19:46,760
Speaker 2: her as an experience.

400
00:19:46,560 --> 00:19:48,919
Speaker 3: Right, and she's the editor in chief. She's like the

401
00:19:49,080 --> 00:19:52,560
Speaker 3: on page personality model. Yeah, always the cover model.

402
00:19:52,600 --> 00:19:55,480
Speaker 2: She she taught to do that right percent.

403
00:19:55,800 --> 00:19:58,239
Speaker 3: And she'd like blend her image and her voice with

404
00:19:58,320 --> 00:20:03,439
Speaker 3: like service journalism about cooking and decorating gardening crafts. And

405
00:20:03,480 --> 00:20:07,640
Speaker 3: it's about that time that she developed her catchphrase, it's

406
00:20:07,640 --> 00:20:09,480
Speaker 3: a good thing, all right.

407
00:20:10,040 --> 00:20:10,680
Speaker 2: I remember that.

408
00:20:10,840 --> 00:20:16,959
Speaker 3: I like Ina Garten's catchphrase. How easy is that? Anyway?

409
00:20:17,040 --> 00:20:17,560
Speaker 2: Martha.

410
00:20:17,640 --> 00:20:21,200
Speaker 3: So nineteen ninety four, the company launched Martha Stewart Weddings

411
00:20:22,000 --> 00:20:25,080
Speaker 3: as an annual special issue, and they made that quarterly

412
00:20:25,200 --> 00:20:28,119
Speaker 3: in nineteen ninety nine. She knew the money was in

413
00:20:28,160 --> 00:20:33,200
Speaker 3: the wedding industrial complex. In nineteen ninety three, dock Broker

414
00:20:33,320 --> 00:20:37,200
Speaker 3: Mind Yeah Group w Production signed with Martha to produce

415
00:20:37,240 --> 00:20:41,879
Speaker 3: a weekly, half hour syndicated television show called Martha Stewart Living,

416
00:20:42,200 --> 00:20:44,320
Speaker 3: and it was going to cross promote the magazine and

417
00:20:44,359 --> 00:20:47,879
Speaker 3: all her other stuff. So it expanded to week days

418
00:20:47,960 --> 00:20:51,240
Speaker 3: in ninety seven and then became an hour long daily

419
00:20:51,280 --> 00:20:54,639
Speaker 3: format in nineteen ninety nine with a shorter weekend version.

420
00:20:55,000 --> 00:20:56,600
Speaker 3: She's just all over the airways.

421
00:20:56,600 --> 00:20:58,199
Speaker 2: That's what I really remember it coming out here.

422
00:20:58,280 --> 00:21:01,359
Speaker 3: Yeah, yeah, And it was like it was a relatively

423
00:21:01,480 --> 00:21:05,920
Speaker 3: novel thing, this kind of magazine TV synergy model. They

424
00:21:06,040 --> 00:21:11,120
Speaker 3: promoted the magazine kmart products ad buyers could reach audiences

425
00:21:11,160 --> 00:21:15,000
Speaker 3: across TV in print in like one Martha brand. She

426
00:21:15,160 --> 00:21:19,600
Speaker 3: wanted more control and she wanted the upside from this

427
00:21:19,720 --> 00:21:21,639
Speaker 3: growing portfolio of media.

428
00:21:22,920 --> 00:21:23,200
Speaker 2: Yeah.

429
00:21:23,600 --> 00:21:26,760
Speaker 3: So her contract with Time gave her national exposure, but

430
00:21:26,800 --> 00:21:29,960
Speaker 3: it wasn't really lucrative for her personally. So in nineteen

431
00:21:30,040 --> 00:21:33,359
Speaker 3: ninety seven, she bought back the rights to Martha Stewart

432
00:21:33,440 --> 00:21:39,000
Speaker 3: Living magazine from Time. Warner consolidated her ventures so books, magazines,

433
00:21:39,080 --> 00:21:45,520
Speaker 3: TV merchandising into one company, Martha Stewart Living Omnimedia MSLO.

434
00:21:46,200 --> 00:21:48,200
Speaker 3: Let's take a break here. When we come back, we're

435
00:21:48,240 --> 00:21:51,639
Speaker 3: going to dive into Martha Stewart Living Omnimedia. It's a

436
00:21:51,680 --> 00:22:14,840
Speaker 3: good thing. Ad breaks, How easy is that.

437
00:22:15,080 --> 00:22:17,480
Speaker 2: Dude. I'm loving this Martha Stewart thing because it's making me.

438
00:22:17,560 --> 00:22:19,960
Speaker 2: I have a friend, Chelsea Fagan. She's got a new

439
00:22:19,960 --> 00:22:22,800
Speaker 2: book out called Happing People Over and it's basically a

440
00:22:22,920 --> 00:22:27,480
Speaker 2: very Martha Stewart inspired thing, and she's doing basically it's

441
00:22:27,480 --> 00:22:29,720
Speaker 2: like a you know, elder millennial take on the Martha

442
00:22:29,720 --> 00:22:32,280
Speaker 2: Stewart brand if you will. Yeah, and this is reminding him.

443
00:22:32,320 --> 00:22:35,160
Speaker 2: I'm like, dude, I didn't even realize that she's been

444
00:22:35,160 --> 00:22:37,399
Speaker 2: following this pattern for a while. But Martha Stewart is

445
00:22:37,440 --> 00:22:39,640
Speaker 2: a hell of a trailblazer. I mean, if you got

446
00:22:39,680 --> 00:22:42,080
Speaker 2: Oprah and my friend Chelsea Fagan both following you, you

447
00:22:42,200 --> 00:22:45,960
Speaker 2: got something strong going on. It's multi generational, it's multicultural.

448
00:22:45,960 --> 00:22:48,639
Speaker 2: But she's just like everyone's like that is like, you know,

449
00:22:48,680 --> 00:22:51,040
Speaker 2: it's like not like oh, Moses on the mountaintop, but

450
00:22:51,400 --> 00:22:53,440
Speaker 2: like she's getting people a path.

451
00:22:53,240 --> 00:22:56,440
Speaker 3: To follow, oh completely completely, And you'll see how that

452
00:22:56,680 --> 00:23:02,200
Speaker 3: rings out. So Martha Stewart Living Omnimedia was structured around

453
00:23:02,280 --> 00:23:05,359
Speaker 3: all of these various business segments. So you got publishing

454
00:23:05,800 --> 00:23:09,359
Speaker 3: and that's Martha Stewart Living, Martha Stewart Weddings, all of

455
00:23:09,400 --> 00:23:12,439
Speaker 3: her various books, special issues that would come out, like

456
00:23:13,160 --> 00:23:19,120
Speaker 3: her Halloween edition was always a big deal. Decorations, yeah,

457
00:23:19,359 --> 00:23:21,880
Speaker 3: newspaper columns so yeah, and there'd be like a holiday

458
00:23:21,920 --> 00:23:26,000
Speaker 3: cooking one. Then there was broadcasting, and that's so we

459
00:23:26,040 --> 00:23:28,800
Speaker 3: have the syndicated Martha Stewart Living TV show plus all

460
00:23:28,840 --> 00:23:33,479
Speaker 3: these radio segments. Then we get internet direct commerce, so

461
00:23:33,520 --> 00:23:37,480
Speaker 3: that's Marthastewart dot Com, the Martha by Mail catalog. Those

462
00:23:37,480 --> 00:23:39,679
Speaker 3: both came out in the late nineties as like direct

463
00:23:39,680 --> 00:23:43,240
Speaker 3: to consumers. Yeah. And then lastly we have the merchandising,

464
00:23:43,280 --> 00:23:45,520
Speaker 3: so you have the Kmart Martha Stewart.

465
00:23:45,119 --> 00:23:48,280
Speaker 2: Every Day line, like Martha Stewart branded cookie roller.

466
00:23:48,400 --> 00:23:50,520
Speaker 3: Yeah. And then she just continues to get all these

467
00:23:50,600 --> 00:23:55,320
Speaker 3: retail partnerships with all these groups. So this integrated model,

468
00:23:55,400 --> 00:23:58,639
Speaker 3: so it was content driving product sales and vice versa

469
00:23:59,320 --> 00:24:04,040
Speaker 3: was central to this business proposition. And Harvard Business School

470
00:24:04,160 --> 00:24:05,520
Speaker 3: did case studies on this.

471
00:24:05,680 --> 00:24:06,880
Speaker 2: I bet they did just.

472
00:24:06,840 --> 00:24:10,119
Speaker 3: That it's like this sweet spot perfect method.

473
00:24:10,160 --> 00:24:12,080
Speaker 2: She's really kind of brilliant. The more you're reminding me,

474
00:24:12,080 --> 00:24:14,600
Speaker 2: I didn't realize like one, just the steps, but also

475
00:24:14,640 --> 00:24:17,760
Speaker 2: the spread the scope.

476
00:24:17,800 --> 00:24:19,679
Speaker 3: Well, and you think too that she comes from like

477
00:24:19,720 --> 00:24:23,760
Speaker 3: this humble beginning. She is savvy. She is savvy, and so.

478
00:24:23,680 --> 00:24:26,600
Speaker 2: She she also knows both the upside of like oh,

479
00:24:26,760 --> 00:24:29,240
Speaker 2: quaint colonial living, but also Jersey City.

480
00:24:29,480 --> 00:24:34,520
Speaker 3: She knows both inherently exactly. So MSLO was a beast,

481
00:24:34,640 --> 00:24:37,000
Speaker 3: and that beast went public on the New York Stock

482
00:24:37,040 --> 00:24:41,200
Speaker 3: Exchange on October nineteenth, nineteen ninety nine. So the IPO

483
00:24:41,359 --> 00:24:43,720
Speaker 3: was priced at eighteen dollars a share, but the stock

484
00:24:43,800 --> 00:24:48,359
Speaker 3: quickly traded up to around thirty eight dollars, tripling basically

485
00:24:48,400 --> 00:24:52,919
Speaker 3: the issue price. In today, the company's post IPO valuation

486
00:24:53,359 --> 00:24:56,800
Speaker 3: was reported at approximately one point eight to two billion,

487
00:24:58,000 --> 00:25:01,320
Speaker 3: and because Martha retained like six sixty percent of the shares,

488
00:25:01,960 --> 00:25:05,879
Speaker 3: she became, on paper, the first self made female billionaire

489
00:25:05,920 --> 00:25:06,840
Speaker 3: in the United States.

490
00:25:07,119 --> 00:25:09,440
Speaker 2: Wow. And you don't normally hear me say anything wow

491
00:25:09,440 --> 00:25:12,480
Speaker 2: about a billionaire, but yeah, wow, wow. I bet you

492
00:25:12,520 --> 00:25:14,280
Speaker 2: made a lot or bought a lot of boats for

493
00:25:14,280 --> 00:25:14,560
Speaker 2: a lot of.

494
00:25:14,560 --> 00:25:18,399
Speaker 3: Stockbrokers, And yes, you will find out. You'd think that

495
00:25:18,440 --> 00:25:22,520
Speaker 3: the merchandising would be the driving force beneath her wealth,

496
00:25:23,359 --> 00:25:26,919
Speaker 3: but no. According to the company's nineteen ninety nine annual report,

497
00:25:27,400 --> 00:25:29,120
Speaker 3: publishing was the largest segment.

498
00:25:29,280 --> 00:25:30,320
Speaker 2: That is surprising yet.

499
00:25:30,240 --> 00:25:32,840
Speaker 3: Generated around one hundred and forty five million dollars and

500
00:25:32,880 --> 00:25:35,640
Speaker 3: accounted for sixty three percent of total revenue.

501
00:25:35,640 --> 00:25:39,000
Speaker 2: That's very surprising. Back in publishing made money apparently.

502
00:25:39,160 --> 00:25:40,520
Speaker 3: Yeah, do you remember magazines?

503
00:25:40,800 --> 00:25:44,639
Speaker 2: I loved them, Elizabeth, Oh my, I'm sad that they're gone. Largely.

504
00:25:44,800 --> 00:25:48,280
Speaker 3: I worked at one Jones I subscribed. I used to

505
00:25:48,280 --> 00:25:48,960
Speaker 3: subscribe to.

506
00:25:49,080 --> 00:25:51,560
Speaker 2: So many two subscriptions.

507
00:25:51,600 --> 00:25:53,800
Speaker 3: I think I would pore over them. I went to

508
00:25:53,920 --> 00:25:55,840
Speaker 3: newsstands to check out new ones.

509
00:25:55,880 --> 00:25:58,200
Speaker 2: I love buying them from newstands. Then you see international

510
00:25:58,240 --> 00:25:59,840
Speaker 2: ones you don't even know. You just buy. Could you

511
00:25:59,840 --> 00:26:00,560
Speaker 2: like to Pictures?

512
00:26:00,680 --> 00:26:00,880
Speaker 4: Yes?

513
00:26:00,960 --> 00:26:03,680
Speaker 3: And I never flew without buying a couple of magazines

514
00:26:03,720 --> 00:26:07,080
Speaker 3: at the airport. So like, I still get some magazines

515
00:26:07,119 --> 00:26:10,560
Speaker 3: I get like Sunset and Bone Appetite and like Cooks Illustrated.

516
00:26:10,640 --> 00:26:12,520
Speaker 2: Yeah, I get like New Scientists, Rolling Stone.

517
00:26:12,840 --> 00:26:16,000
Speaker 3: Yeah. Yeah, I missed like Spin used to be so good.

518
00:26:17,119 --> 00:26:21,000
Speaker 3: I'm mourn. I mourn magazines back to Martha.

519
00:26:21,080 --> 00:26:21,199
Speaker 2: So.

520
00:26:21,320 --> 00:26:24,439
Speaker 3: By the early two thousands, mslo's revenues were in the

521
00:26:24,520 --> 00:26:28,919
Speaker 3: hundreds of millions of dollars annually, with external analyzes sighting

522
00:26:28,920 --> 00:26:32,280
Speaker 3: around three hundred million in revenue. By two thousand and one.

523
00:26:32,840 --> 00:26:35,960
Speaker 3: What's that today? Today, Elizabeth nearly five hundred and fifty

524
00:26:35,960 --> 00:26:36,639
Speaker 3: million dollars.

525
00:26:36,720 --> 00:26:37,320
Speaker 2: I'll take it.

526
00:26:37,440 --> 00:26:41,560
Speaker 3: Big dog. Martha is the big dog. And you know

527
00:26:41,640 --> 00:26:44,720
Speaker 3: she had all these these TV shows. And that's where

528
00:26:44,760 --> 00:26:48,760
Speaker 3: Aina intersected. Okay, she originally was going to bring Aina

529
00:26:48,840 --> 00:26:52,239
Speaker 3: into the fold, but Aina liked it a little bit

530
00:26:52,240 --> 00:26:52,920
Speaker 3: more casual.

531
00:26:53,200 --> 00:26:55,160
Speaker 2: Was just about to say, was it a fashion conflict

532
00:26:55,200 --> 00:26:57,600
Speaker 2: where she's like, could you get dressed up? I'm not

533
00:26:57,640 --> 00:26:58,560
Speaker 2: giving up my linens.

534
00:26:58,680 --> 00:27:00,360
Speaker 3: No, no, no, it wasn't a fashion thing at all.

535
00:27:00,440 --> 00:27:03,960
Speaker 3: It was like Martha had a very strict kind of juggernaut,

536
00:27:04,160 --> 00:27:07,880
Speaker 3: like there's a reason why she has built this success.

537
00:27:07,920 --> 00:27:08,840
Speaker 3: It's very structure.

538
00:27:08,960 --> 00:27:10,919
Speaker 2: You have to subsume your thing to her thing in

539
00:27:10,920 --> 00:27:13,199
Speaker 2: a sense, like do it her way, even though and

540
00:27:13,240 --> 00:27:14,320
Speaker 2: if you still do your thing.

541
00:27:14,560 --> 00:27:18,360
Speaker 3: I watched AA like it's a little message. Well, think

542
00:27:18,359 --> 00:27:23,520
Speaker 3: about Julia Child used to drop stuff is more like that,

543
00:27:23,600 --> 00:27:27,000
Speaker 3: and she also likes to jug up store bought stuff.

544
00:27:26,760 --> 00:27:29,840
Speaker 2: And Martha is very like but not delivery in terms

545
00:27:29,840 --> 00:27:30,879
Speaker 2: of like how it looks.

546
00:27:31,040 --> 00:27:33,879
Speaker 3: Yeah, yeah, exactly. So it just wasn't a good match.

547
00:27:33,880 --> 00:27:35,800
Speaker 2: I could see that a good match too. Many like

548
00:27:36,000 --> 00:27:37,879
Speaker 2: tomato stands exactly.

549
00:27:38,720 --> 00:27:42,840
Speaker 3: So soon though the MSLO stocks struggled, you know, the

550
00:27:43,240 --> 00:27:46,600
Speaker 3: the revenues weren't two thousand and one revenues weren't going

551
00:27:46,640 --> 00:27:48,199
Speaker 3: to bleed into two thousand and two. There was that

552
00:27:48,320 --> 00:27:51,639
Speaker 3: nine to eleven slump that the economy face, and that

553
00:27:51,840 --> 00:27:55,359
Speaker 3: early dot com crash exactly. You have all those So

554
00:27:55,400 --> 00:28:00,399
Speaker 3: these market conditions, these external pressures are all mounting. Martha

555
00:28:00,560 --> 00:28:05,200
Speaker 3: kept majority voting control ninety six percent through a dual

556
00:28:05,280 --> 00:28:09,760
Speaker 3: class share structure, and so she had like dominant influence

557
00:28:09,840 --> 00:28:13,320
Speaker 3: over direction of the whole thing. She expanded into new

558
00:28:13,359 --> 00:28:16,320
Speaker 3: product categories, so like not just home decor, but at

559
00:28:16,480 --> 00:28:22,600
Speaker 3: home furnishings, furniture, wallpaper, flooring. She had a wine brand,

560
00:28:22,760 --> 00:28:26,000
Speaker 3: Martha Stewart Vintage, which was a partnership with Gallo.

561
00:28:26,880 --> 00:28:33,640
Speaker 2: Did not see that she always surprises her brand gave

562
00:28:33,680 --> 00:28:36,240
Speaker 2: you if you spotted me seventeen guests. I would no.

563
00:28:36,240 --> 00:28:40,680
Speaker 3: No. Her brand licensing model licensed the Martha Stewart name

564
00:28:40,760 --> 00:28:43,600
Speaker 3: to third parties for product lines, so it would like

565
00:28:43,680 --> 00:28:47,400
Speaker 3: scale revenue, but they didn't always own manufacturing. That's a

566
00:28:47,440 --> 00:28:47,960
Speaker 3: little dicey.

567
00:28:48,600 --> 00:28:50,760
Speaker 2: Yeah, that's a risk. Yeah, so your name on something,

568
00:28:50,800 --> 00:28:52,600
Speaker 2: the quality suffers right right.

569
00:28:52,960 --> 00:28:56,120
Speaker 3: So here we have Martha top of the world raking

570
00:28:56,200 --> 00:28:58,840
Speaker 3: it in. Enter Sam Waxaw.

571
00:28:59,320 --> 00:29:00,840
Speaker 2: Okay, should I know that name?

572
00:29:01,120 --> 00:29:04,360
Speaker 3: Uh? No, not necessarily. He was born in nineteen forty

573
00:29:04,360 --> 00:29:07,600
Speaker 3: seven in Paris to a Jewish couple who were Holocaust survivors,

574
00:29:08,160 --> 00:29:10,680
Speaker 3: and the family later immigrated to the United States. He

575
00:29:10,720 --> 00:29:13,640
Speaker 3: got his bachelor's in nineteen sixty nine and then a

576
00:29:13,680 --> 00:29:18,560
Speaker 3: PhD in immunobiology in nineteen seventy four from Ohio State.

577
00:29:19,680 --> 00:29:22,080
Speaker 3: He did his doctoral studies and then he worked in

578
00:29:22,120 --> 00:29:26,640
Speaker 3: these research positions like National Cancer Institute, Stanford Mount Sinai

579
00:29:27,040 --> 00:29:31,960
Speaker 3: in immunology and molecular biology. Okay, great who cares? In

580
00:29:32,040 --> 00:29:37,600
Speaker 3: nineteen eighty four, Waxaw founded m Clone Systems. Originally it

581
00:29:37,680 --> 00:29:42,959
Speaker 3: was like this startup focused on immunology, DNA cloning, medical

582
00:29:42,960 --> 00:29:47,960
Speaker 3: information systems, but they had this aim of developing biologic medicines,

583
00:29:48,000 --> 00:29:53,280
Speaker 3: particularly for oncology, and so under Waxall's leadership, m Clone

584
00:29:53,720 --> 00:29:58,920
Speaker 3: partnered with major pharmaceutical firms and developed the monoclonal antibody

585
00:29:59,000 --> 00:30:06,680
Speaker 3: drug candidate erbitux for cancer treatment. At its peak, m

586
00:30:06,720 --> 00:30:10,800
Speaker 3: Clone looked like this rising star in biotech, and Waxaw

587
00:30:10,960 --> 00:30:14,800
Speaker 3: he cultivated this lavish personal lifestyle. So we had art

588
00:30:14,880 --> 00:30:18,160
Speaker 3: collections and he was traveling in all these social circles,

589
00:30:18,640 --> 00:30:22,000
Speaker 3: well known figure in the industry. Okay, great, who cares.

590
00:30:22,880 --> 00:30:24,920
Speaker 3: What's this got to do with Martha? Bring back to

591
00:30:25,600 --> 00:30:31,800
Speaker 3: m Clone's future. Hinged on FDA approval of erbitux, and

592
00:30:31,840 --> 00:30:35,000
Speaker 3: in late two thousand and one, m Clone submitted a

593
00:30:35,040 --> 00:30:39,720
Speaker 3: biologics license Application BLA to the Food and Drug Administration.

594
00:30:40,520 --> 00:30:43,560
Speaker 3: The market knew that an FDA decision was coming an

595
00:30:43,600 --> 00:30:47,440
Speaker 3: in Clone stock, like the price reflected all these high

596
00:30:47,480 --> 00:30:48,920
Speaker 3: expectations that people had.

597
00:30:48,960 --> 00:30:51,560
Speaker 2: Of course, it is just going to be it's swelling ony. Yeah.

598
00:30:51,760 --> 00:30:55,120
Speaker 3: On the evening of December twenty sixth, two thousand and one,

599
00:30:55,680 --> 00:30:58,640
Speaker 3: the FDA told m Clone that it would issue a

600
00:30:58,960 --> 00:31:03,760
Speaker 3: refusal to RTF letter, meaning it would not even accept

601
00:31:03,760 --> 00:31:05,240
Speaker 3: their application for review.

602
00:31:05,520 --> 00:31:07,600
Speaker 2: WHOA, why wow, I don't know.

603
00:31:07,600 --> 00:31:11,000
Speaker 3: It's devastating news that had not been made public yet.

604
00:31:11,800 --> 00:31:16,320
Speaker 3: So waxall he hears about this impending RTF, he tells

605
00:31:16,360 --> 00:31:18,880
Speaker 3: his family members, and then he tries to sell his

606
00:31:18,920 --> 00:31:23,080
Speaker 3: own in Clone stock before the bad news hits the market.

607
00:31:23,200 --> 00:31:24,920
Speaker 3: That's what we call insider trader.

608
00:31:25,000 --> 00:31:27,840
Speaker 2: That's deep insider trading. You're trying to sell your own shares,

609
00:31:28,000 --> 00:31:29,880
Speaker 2: that is your family.

610
00:31:28,840 --> 00:31:32,840
Speaker 3: Really, So his family dumped over ten million dollars in

611
00:31:32,840 --> 00:31:36,920
Speaker 3: in Clone stock between December twenty seventh and twenty eighth,

612
00:31:37,160 --> 00:31:37,880
Speaker 3: two thousand and one.

613
00:31:38,160 --> 00:31:38,760
Speaker 2: What's fast.

614
00:31:38,880 --> 00:31:42,880
Speaker 3: Yeah, Waxall himself tried to sell about five million, but

615
00:31:43,040 --> 00:31:44,480
Speaker 3: it got blocked by brokers.

616
00:31:44,560 --> 00:31:45,800
Speaker 2: I was gonna say, I mean, you're going to start

617
00:31:46,000 --> 00:31:48,320
Speaker 2: the market's going to notice this, even if it's the holidays,

618
00:31:48,320 --> 00:31:49,720
Speaker 2: the market's going to notice that much.

619
00:31:49,760 --> 00:31:54,240
Speaker 3: Movie totally. Martha Stewart owned three nine hundred and twenty

620
00:31:54,240 --> 00:31:57,600
Speaker 3: eight shares of m Clone through her personal account at

621
00:31:57,600 --> 00:32:01,600
Speaker 3: Mery Lynch and Waxaw was a quote close friend of Stuart,

622
00:32:02,240 --> 00:32:05,120
Speaker 3: and Martha had invested in it as like this gesture

623
00:32:05,240 --> 00:32:08,120
Speaker 3: of support for her friend. So like she, she and

624
00:32:08,160 --> 00:32:11,120
Speaker 3: Waxall they moved in the same elite social circles in

625
00:32:11,120 --> 00:32:15,920
Speaker 3: New York appreciate the thing. And creepily enough, Waxall dated

626
00:32:16,080 --> 00:32:19,040
Speaker 3: Martha's daughter Alexis for several years prior to all this.

627
00:32:19,520 --> 00:32:22,000
Speaker 3: Oh yeah, okay.

628
00:32:21,760 --> 00:32:25,120
Speaker 2: So Marylynd she would have been his step his mother

629
00:32:25,160 --> 00:32:25,520
Speaker 2: in law.

630
00:32:25,640 --> 00:32:31,880
Speaker 3: Yeah okay, yeah, So Martha's broker was this guy Peter Bakanovich,

631
00:32:32,520 --> 00:32:36,640
Speaker 3: and his assistant was Douglas Fanuel. They knew all this,

632
00:32:36,800 --> 00:32:40,280
Speaker 3: They know everything that's going down. So early on December

633
00:32:40,320 --> 00:32:43,320
Speaker 3: twenty seventh, two thousand and one, the morning after he

634
00:32:43,360 --> 00:32:44,600
Speaker 3: gets that FDA.

635
00:32:44,360 --> 00:32:46,640
Speaker 2: Tip, Yeah, well, his family selling off stock as fast

636
00:32:46,680 --> 00:32:47,240
Speaker 2: as you can.

637
00:32:47,360 --> 00:32:50,680
Speaker 3: Waxall and his daughter are telling Mary Lynch sell everything

638
00:32:50,720 --> 00:32:55,240
Speaker 3: we have. Fanoel dealing with multiple urgent cell orders from

639
00:32:55,280 --> 00:33:00,280
Speaker 3: the whole Waxaw family. He calls his boss back in Novich,

640
00:33:00,520 --> 00:33:04,240
Speaker 3: who's on vacation in Florida, to report, like all these

641
00:33:04,680 --> 00:33:06,720
Speaker 3: like everyone's trying to sell Mclone. Why do you think

642
00:33:06,760 --> 00:33:10,360
Speaker 3: that is? And so, according to the SEC's complaint. In

643
00:33:10,440 --> 00:33:15,720
Speaker 3: later testimony, Bakanovich told Finul to call Martha and tell

644
00:33:15,760 --> 00:33:18,480
Speaker 3: her that the wax Saws were selling or trying to

645
00:33:18,520 --> 00:33:20,880
Speaker 3: sell all their in Clone shares at Merrill Lynch.

646
00:33:21,560 --> 00:33:21,680
Speaker 2: Like.

647
00:33:21,840 --> 00:33:24,400
Speaker 3: So he's like, give Martha heads up, this is happening, Okay.

648
00:33:24,600 --> 00:33:28,280
Speaker 3: Fanul does that, tells Martha that Sam Waxaw and his

649
00:33:28,400 --> 00:33:32,480
Speaker 3: daughter dumping their in Clone stock. Martha hears this, she says,

650
00:33:32,680 --> 00:33:36,320
Speaker 3: sell all my stuff. If they're selling it, I want

651
00:33:36,360 --> 00:33:40,240
Speaker 3: all three nine hundred twenty eight shares December twenty seventh,

652
00:33:40,280 --> 00:33:44,280
Speaker 3: two thousand and one. December twenty eighth, after the market closed,

653
00:33:44,800 --> 00:33:49,280
Speaker 3: m Clone publicly announced that refusal to file decision for herbitux.

654
00:33:49,680 --> 00:33:52,440
Speaker 3: By the closing of trading on December thirty.

655
00:33:52,200 --> 00:33:54,640
Speaker 2: First, okay, the first date is open. Yeah.

656
00:33:55,280 --> 00:33:58,200
Speaker 3: M clone stock price had dropped about sixteen percent, down

657
00:33:58,280 --> 00:34:01,640
Speaker 3: to around forty six dollars a shit. So Martha sold

658
00:34:01,720 --> 00:34:05,640
Speaker 3: at fifty eight dollars a share with proceeds of about

659
00:34:05,920 --> 00:34:08,560
Speaker 3: two hundred and twenty seven thousand dollars, and so she

660
00:34:08,640 --> 00:34:11,520
Speaker 3: got to avoid losses of about forty five thousand when

661
00:34:11,520 --> 00:34:14,480
Speaker 3: the stock later fell. In the grand scheme of things,

662
00:34:14,520 --> 00:34:16,120
Speaker 3: for Martha, that's not a whole lot.

663
00:34:16,239 --> 00:34:17,399
Speaker 2: That's not even a drop.

664
00:34:17,520 --> 00:34:19,839
Speaker 3: No, for most of us, that would be huge, But

665
00:34:19,920 --> 00:34:21,000
Speaker 3: Martha is a billionaire.

666
00:34:21,120 --> 00:34:22,640
Speaker 2: Yeah, what does she care? So I said, it's not

667
00:34:22,680 --> 00:34:24,320
Speaker 2: even a drop. You'd have to put a few of

668
00:34:24,360 --> 00:34:25,359
Speaker 2: those together, drup.

669
00:34:25,480 --> 00:34:29,160
Speaker 3: Yes. So the initial focus of regulators in early two

670
00:34:29,200 --> 00:34:32,120
Speaker 3: thousand and two was Sam Waxall and his family and

671
00:34:32,160 --> 00:34:34,759
Speaker 3: the SEC and the US Attorney's office. They opened this

672
00:34:34,840 --> 00:34:39,000
Speaker 3: investigation into the heavy insider selling an m Clone Just

673
00:34:39,040 --> 00:34:42,960
Speaker 3: before the announcement the investigation into wax Saw's tips and

674
00:34:43,000 --> 00:34:47,360
Speaker 3: trades led regulators to examine all unusual M Clone sales,

675
00:34:47,880 --> 00:34:51,480
Speaker 3: including those of other Merrill Lynch clients like Martha Stewart.

676
00:34:51,920 --> 00:34:56,320
Speaker 3: So Merrill Lynch's compliance department reviewed all the in Clone

677
00:34:56,360 --> 00:34:59,600
Speaker 3: trades and they noticed that Martha, this high profile client,

678
00:34:59,640 --> 00:35:02,719
Speaker 3: had done all her shares the same day that Waxall's

679
00:35:02,840 --> 00:35:07,760
Speaker 3: family did. Compliance staff questioned the broker about these trades,

680
00:35:08,280 --> 00:35:11,160
Speaker 3: and his initial explanation was that, well, you know, Martha

681
00:35:11,239 --> 00:35:14,720
Speaker 3: has a standing order to sell if M Clone falls

682
00:35:14,719 --> 00:35:18,879
Speaker 3: below sixty. So Fanil he went along.

683
00:35:18,920 --> 00:35:21,360
Speaker 2: There was a verbal order. We have no paper records

684
00:35:21,360 --> 00:35:21,719
Speaker 2: of it.

685
00:35:22,600 --> 00:35:25,520
Speaker 3: Fanila goes along with the whole sixty stop loss story

686
00:35:25,840 --> 00:35:28,799
Speaker 3: when he's first questioned by Merrill Lynch and the regulators,

687
00:35:29,040 --> 00:35:32,200
Speaker 3: but then he later pleaded guilty tolling to investigators and

688
00:35:32,239 --> 00:35:35,759
Speaker 3: agreed to cooperate with the government. And once he was cooperating,

689
00:35:35,800 --> 00:35:39,160
Speaker 3: he gave a totally different account. He said Bakanovich had

690
00:35:39,160 --> 00:35:42,040
Speaker 3: told him to tip Martha that Waxal and his family

691
00:35:42,480 --> 00:35:46,280
Speaker 3: selling the shares. He testified there was no pre existing

692
00:35:46,320 --> 00:35:49,880
Speaker 3: sixty dollars sell order and that that was concocted after

693
00:35:49,920 --> 00:35:54,680
Speaker 3: the facts cover, so investigators they gathered all this documentary evidence.

694
00:35:55,400 --> 00:35:58,960
Speaker 3: They subpoenaed Martha's phone and email records as well as

695
00:35:59,000 --> 00:36:03,640
Speaker 3: Merrill Lynch records to reconstruct all of her communications around

696
00:36:03,640 --> 00:36:06,960
Speaker 3: this trade. And then there was the quote worksheet. So

697
00:36:07,680 --> 00:36:13,080
Speaker 3: Bakanovich had a printed worksheet that listed Martha's holdings dated

698
00:36:13,480 --> 00:36:15,800
Speaker 3: December twenty first, two thousand and one.

699
00:36:15,719 --> 00:36:18,200
Speaker 2: Okay, almost week prior.

700
00:36:18,400 --> 00:36:20,719
Speaker 3: So at the time there was no handwritten note about

701
00:36:20,760 --> 00:36:24,080
Speaker 3: the decision to sell in Clone at sixty and according

702
00:36:24,080 --> 00:36:27,920
Speaker 3: to the superseding indictment, a note about sixty dollars was

703
00:36:27,960 --> 00:36:31,760
Speaker 3: allegedly added after the trade, and so suspicion is raised

704
00:36:31,800 --> 00:36:36,520
Speaker 3: that it's fabricated. Correct news accounts said that Finul left

705
00:36:36,560 --> 00:36:40,680
Speaker 3: Martha a message saying, Peter Bakanovich thinks in Clone is

706
00:36:40,719 --> 00:36:43,960
Speaker 3: going to start trading downward. And then prosecutors said that

707
00:36:44,040 --> 00:36:48,000
Speaker 3: Martha later tried to alter or erase evidence of the call,

708
00:36:48,560 --> 00:36:51,160
Speaker 3: and so they're like, that's obstruction. She knew what she

709
00:36:51,239 --> 00:36:54,839
Speaker 3: was doing. So all of this, the testimony, the worksheet,

710
00:36:54,880 --> 00:36:58,840
Speaker 3: the phone records, they the federal government has this narrative

711
00:36:58,840 --> 00:37:01,440
Speaker 3: that Martha and are broke her lied to cover up

712
00:37:01,480 --> 00:37:04,759
Speaker 3: an improper tip. June fourth, two thousand and three, a

713
00:37:04,840 --> 00:37:08,600
Speaker 3: federal grand jury in Manhattan indicted Martha Stewart and Peter

714
00:37:08,760 --> 00:37:11,400
Speaker 3: Bakanovich on nine criminal counts.

715
00:37:11,840 --> 00:37:13,319
Speaker 2: Nine they squeezed nine out of.

716
00:37:13,239 --> 00:37:18,160
Speaker 3: This conspiracy, obstruction of justice, security frauds, making false statements,

717
00:37:18,200 --> 00:37:21,320
Speaker 3: bunch of others. The government said Martha sold her in

718
00:37:21,480 --> 00:37:24,840
Speaker 3: clone stock based on the tip and then lied to

719
00:37:24,880 --> 00:37:31,040
Speaker 3: the FBI and the SEC. And we know the same

720
00:37:31,120 --> 00:37:34,279
Speaker 3: day the SEC filed a civil complaint and said that

721
00:37:34,320 --> 00:37:38,520
Speaker 3: Martha and Bakanovich committed securities fraud by engaging in illegal

722
00:37:38,520 --> 00:37:42,319
Speaker 3: insider trading and then lying to regulators. Criminal trial that

723
00:37:42,520 --> 00:37:44,920
Speaker 3: began January of two thousand and four in the Southern

724
00:37:44,960 --> 00:37:48,880
Speaker 3: District of New York, there was this judge, Miriam Goldman

725
00:37:49,040 --> 00:37:55,080
Speaker 3: Cedar Bamby. That's right. The prosecution's core story was about

726
00:37:55,080 --> 00:37:59,960
Speaker 3: this conspiracy between Martha and her broker, Douglas Finul star witness.

727
00:38:00,480 --> 00:38:04,799
Speaker 3: He testifies that you know everything that had been laid out.

728
00:38:05,520 --> 00:38:09,399
Speaker 3: He said that he told Martha exactly what was going down,

729
00:38:09,520 --> 00:38:12,920
Speaker 3: and she was like, sell it. And we know that

730
00:38:12,960 --> 00:38:16,760
Speaker 3: Martha and Bakanovich both told investigators that they had previously

731
00:38:16,800 --> 00:38:21,359
Speaker 3: agreed to sell if it fell below sixty. Government, you know,

732
00:38:21,640 --> 00:38:24,960
Speaker 3: shows that that's totally false. February twenty seventh, two thousand

733
00:38:24,960 --> 00:38:28,800
Speaker 3: and four, Judge Cedarbaum dismissed the main securities fraud count

734
00:38:29,480 --> 00:38:32,560
Speaker 3: saying that no reasonable jury could find beyond a reasonable

735
00:38:32,600 --> 00:38:35,920
Speaker 3: doubt that Martha lied for the purpose of manipulating the

736
00:38:35,960 --> 00:38:38,520
Speaker 3: stock price of Martha Stewart Living Omnimedia.

737
00:38:38,760 --> 00:38:41,439
Speaker 2: Oh, I can see that, Yeah, reasonable right.

738
00:38:42,080 --> 00:38:45,040
Speaker 3: March fifth, two thousand and four, after three days of deliberations,

739
00:38:45,080 --> 00:38:49,160
Speaker 3: the jury found Martha Stewart guilty on four counts conspiracy,

740
00:38:49,600 --> 00:38:52,320
Speaker 3: obstruction of justice, and then two counts of making false

741
00:38:52,320 --> 00:38:55,840
Speaker 3: statements to federal investigators. Line to the FBI is something

742
00:38:55,880 --> 00:39:00,080
Speaker 3: you never ever do. Importantly, she was not convicted of

743
00:39:00,120 --> 00:39:04,000
Speaker 3: insider trading itself, so her you know that that.

744
00:39:03,960 --> 00:39:06,440
Speaker 2: She was clear on basically busted for the cover up.

745
00:39:06,520 --> 00:39:08,320
Speaker 3: Yeah, completely busted for the cover.

746
00:39:08,239 --> 00:39:12,799
Speaker 2: Up every time. Evidence all abounds.

747
00:39:13,239 --> 00:39:17,319
Speaker 3: Yeah. In July sixteenth, two thousand and four, Martha and

748
00:39:17,360 --> 00:39:21,200
Speaker 3: Bakanovich were each sentenced to five months in prison, five

749
00:39:21,239 --> 00:39:25,000
Speaker 3: months of home confinement, two years probation, and then Martha

750
00:39:25,000 --> 00:39:29,280
Speaker 3: got a thirty thousand dollars fine and Bakanovic got four thousand,

751
00:39:29,920 --> 00:39:31,799
Speaker 3: So I have a bone to pick about that. If

752
00:39:31,800 --> 00:39:34,400
Speaker 3: the broker kicked it all off, Yeah, how is he

753
00:39:34,560 --> 00:39:35,800
Speaker 3: paying a larger fund?

754
00:39:35,800 --> 00:39:38,160
Speaker 2: It does seem disproportionate in terms of justice anyway.

755
00:39:38,600 --> 00:39:42,640
Speaker 3: So in connection with that scandal, Martha resigned as CEO

756
00:39:42,760 --> 00:39:46,120
Speaker 3: and chair of MSLO on the day that she was indicted,

757
00:39:46,760 --> 00:39:49,200
Speaker 3: and then she later resigned from its board as well

758
00:39:49,200 --> 00:39:52,239
Speaker 3: as from outside boards like the New York Stock Exchange.

759
00:39:52,520 --> 00:39:55,640
Speaker 3: Her TV show, Martha Stewart Living was pulled from a

760
00:39:55,680 --> 00:40:00,319
Speaker 3: bunch of Cbsupan affiliates and then went on hiatus. Let's

761
00:40:00,360 --> 00:40:03,080
Speaker 3: take a break. We know she's going inside. She's going

762
00:40:03,120 --> 00:40:06,040
Speaker 3: to do some time. Let's have one last ad break

763
00:40:06,080 --> 00:40:31,239
Speaker 3: before we go inside with her. Zeron Elizabeth, it's a

764
00:40:31,280 --> 00:40:31,719
Speaker 3: good thing.

765
00:40:32,239 --> 00:40:34,600
Speaker 2: Have you ever thought about having your own media empire

766
00:40:34,680 --> 00:40:36,360
Speaker 2: based on your lifestyle brand?

767
00:40:36,360 --> 00:40:37,239
Speaker 3: Oh? Yeah, it'd be great.

768
00:40:39,560 --> 00:40:41,480
Speaker 2: I think you could do pretty well. But you're honestly

769
00:40:41,480 --> 00:40:42,000
Speaker 2: you ever thought of that?

770
00:40:43,560 --> 00:40:44,240
Speaker 3: Eron lifestime?

771
00:40:44,320 --> 00:40:46,480
Speaker 2: My lifestyle brand is already covered by a number of

772
00:40:46,480 --> 00:40:50,000
Speaker 2: motorcycles and surfboard companies. They have it done on Instagram

773
00:40:50,040 --> 00:40:53,360
Speaker 2: to like a whole thing, an aesthetic that's easily replicated.

774
00:40:53,680 --> 00:40:56,839
Speaker 3: You could be, you could be I lost my.

775
00:40:56,840 --> 00:40:59,480
Speaker 2: Moment unless we added like black cowboys to make it unique.

776
00:40:59,480 --> 00:41:01,640
Speaker 2: It's something they they don't have. They're like, well, we

777
00:41:01,680 --> 00:41:03,960
Speaker 2: had never thought about making it black and western. That's

778
00:41:03,960 --> 00:41:06,000
Speaker 2: about the only thing I got at this point. And

779
00:41:06,040 --> 00:41:09,000
Speaker 2: that's just a tough cell. You know. Putting surfing, motorcycling,

780
00:41:09,000 --> 00:41:11,200
Speaker 2: and black cowboys together as an esthetic.

781
00:41:10,880 --> 00:41:13,080
Speaker 3: I think that's it. I think that's what the people

782
00:41:13,120 --> 00:41:13,880
Speaker 3: want anyway.

783
00:41:13,960 --> 00:41:16,440
Speaker 2: But what about you. You actually could do this, but

784
00:41:16,560 --> 00:41:18,760
Speaker 2: the gardening, the cooking, and the entertaining.

785
00:41:18,360 --> 00:41:20,360
Speaker 3: Getting like easily frazzled.

786
00:41:20,520 --> 00:41:23,480
Speaker 2: Getting easily frazzled coming it, I think, so.

787
00:41:23,880 --> 00:41:26,160
Speaker 3: Yelling at dogs while you're trying to do stuff.

788
00:41:26,000 --> 00:41:28,240
Speaker 2: Yes, like how to entertain when dogs were at your feet?

789
00:41:29,360 --> 00:41:33,719
Speaker 3: Maybe maybe we'll think about that. So Martha, she went

790
00:41:33,800 --> 00:41:37,040
Speaker 3: to trial. She got convicted, so we know that, we

791
00:41:37,120 --> 00:41:39,000
Speaker 3: know that happened. She had to walk away from the

792
00:41:39,080 --> 00:41:42,680
Speaker 3: leadership at MSLO and she had to do time. And

793
00:41:42,719 --> 00:41:45,359
Speaker 3: this was such a huge story at the time. I

794
00:41:45,400 --> 00:41:48,719
Speaker 3: remember this, it was like it was unbelievable. You have

795
00:41:48,760 --> 00:41:53,360
Speaker 3: this iconic domestic powerhouse media personality is going to prison.

796
00:41:54,000 --> 00:41:56,440
Speaker 3: So outside the courthouse following her senses the.

797
00:41:56,440 --> 00:42:00,440
Speaker 2: Nights like the nighttime talk show out on Oh.

798
00:42:00,480 --> 00:42:04,560
Speaker 3: Yeah, yeah, they went nuts. Martha told the press quote,

799
00:42:04,920 --> 00:42:07,759
Speaker 3: I'll be back, I'll be back. I'm used to all

800
00:42:07,840 --> 00:42:10,200
Speaker 3: kinds of hard work, as you know, and I'm not afraid.

801
00:42:10,480 --> 00:42:11,759
Speaker 3: I'm not afraid whatsoever.

802
00:42:12,160 --> 00:42:12,799
Speaker 2: Good for her.

803
00:42:12,880 --> 00:42:15,160
Speaker 3: Yeah, So a lot of people noted at the time

804
00:42:15,200 --> 00:42:17,680
Speaker 3: that there were plenty of examples of folks who did

805
00:42:17,719 --> 00:42:20,959
Speaker 3: exactly what she did and didn't get busted. Oh yeah,

806
00:42:21,000 --> 00:42:23,560
Speaker 3: And there seemed to be a public split on Martha.

807
00:42:23,680 --> 00:42:25,960
Speaker 3: So either people were glad to see her taken down

808
00:42:26,000 --> 00:42:28,600
Speaker 3: a notch or they felt that she was being targeted

809
00:42:28,600 --> 00:42:30,040
Speaker 3: for being a successful woman.

810
00:42:30,680 --> 00:42:32,400
Speaker 2: Do you remember at the time you felt.

811
00:42:32,160 --> 00:42:33,719
Speaker 3: Yeah, I thought she was being targeted for.

812
00:42:35,800 --> 00:42:36,000
Speaker 2: Yeah.

813
00:42:36,040 --> 00:42:39,160
Speaker 3: I mean I think like it you see, like when

814
00:42:39,200 --> 00:42:44,440
Speaker 3: you have like an absolute like business tycoon. You know,

815
00:42:44,520 --> 00:42:50,600
Speaker 3: Martha was portrayed as being very cold and harsh, and

816
00:42:50,640 --> 00:42:54,040
Speaker 3: that's seen as a negative, whereas like you know, male

817
00:42:54,160 --> 00:42:58,160
Speaker 3: business tycoons, when you have that kind of cutthroat, driven, harsh,

818
00:42:58,160 --> 00:43:00,840
Speaker 3: they're driven. Yeah, and so it's like like, you know,

819
00:43:00,920 --> 00:43:04,840
Speaker 3: those same kind of qualities don't translate and she, you know,

820
00:43:04,880 --> 00:43:07,200
Speaker 3: it was kind of diminished all the time of being

821
00:43:07,440 --> 00:43:09,760
Speaker 3: just she you know, she makes pretty things on TV,

822
00:43:09,880 --> 00:43:12,200
Speaker 3: but she was this incredible business person.

823
00:43:12,440 --> 00:43:14,239
Speaker 2: Yeah, Like I didn't know she was a stockbroker. I

824
00:43:14,320 --> 00:43:16,560
Speaker 2: knew about the model part which they pushed, they did

825
00:43:16,640 --> 00:43:18,480
Speaker 2: not really plus the stockbroker part.

826
00:43:18,880 --> 00:43:20,960
Speaker 3: I learned that from you and so she. You know.

827
00:43:21,040 --> 00:43:23,600
Speaker 3: I just remember thinking at the time, like I just

828
00:43:23,600 --> 00:43:25,719
Speaker 3: felt it was kind of unfair. But at the same time,

829
00:43:25,760 --> 00:43:27,560
Speaker 3: it also is like rich people problems.

830
00:43:27,600 --> 00:43:30,480
Speaker 2: That's what I was curiously, would your punk rock show up?

831
00:43:31,160 --> 00:43:32,880
Speaker 2: It seems like rich people problem, most.

832
00:43:32,719 --> 00:43:35,600
Speaker 3: People problems, and especially like we keep saying that for

833
00:43:35,719 --> 00:43:40,359
Speaker 3: her avoiding a forty five thousand dollars loss, like come on, anyway.

834
00:43:40,040 --> 00:43:42,239
Speaker 2: Does almost look cheap like she's trying to do what

835
00:43:42,239 --> 00:43:45,120
Speaker 2: I mean, Like that also doesn't add exactly exactly.

836
00:43:46,160 --> 00:43:50,560
Speaker 3: So October eighth, two thousand and four, Martha reported to

837
00:43:50,600 --> 00:43:54,440
Speaker 3: the federal prison Camp Alderson in West Virginia. And this

838
00:43:54,520 --> 00:43:57,680
Speaker 3: place had the nickname Camp Cupcake because it was a

839
00:43:57,719 --> 00:43:59,320
Speaker 3: minimum security women's prison.

840
00:43:59,400 --> 00:44:01,359
Speaker 2: Yeah, that's been low that is like when you hear

841
00:44:01,360 --> 00:44:04,960
Speaker 2: a camp that's I guess the softest the lowest security prisons.

842
00:44:05,000 --> 00:44:07,920
Speaker 3: Still prison is still so on her first day, she

843
00:44:08,000 --> 00:44:11,080
Speaker 3: had the customary strip search and they made her squat

844
00:44:11,239 --> 00:44:12,760
Speaker 3: with her arms out and cough.

845
00:44:13,000 --> 00:44:15,400
Speaker 2: There you go, still like this.

846
00:44:15,360 --> 00:44:19,000
Speaker 3: Is humiliating completely, yeah, and so she missed her life out.

847
00:44:19,040 --> 00:44:21,920
Speaker 2: So that's what they do in a women's facility is

848
00:44:22,520 --> 00:44:25,200
Speaker 2: squat and cough to turn your head and coughs.

849
00:44:25,880 --> 00:44:30,240
Speaker 3: Squat and cough. She's missing everything obviously of her life,

850
00:44:30,360 --> 00:44:33,520
Speaker 3: you know, particularly her animals, because she had a bunch

851
00:44:33,520 --> 00:44:37,400
Speaker 3: of dogs. The quality of the food was something that

852
00:44:37,440 --> 00:44:40,480
Speaker 3: she found upsetting, of course, but it wasn't just for her,

853
00:44:40,520 --> 00:44:42,600
Speaker 3: but it was just like the poor nutrition that it

854
00:44:42,640 --> 00:44:46,160
Speaker 3: provided everyone. She's just like, this is this is like

855
00:44:46,239 --> 00:44:49,520
Speaker 3: pure carbohydrates and like it's not anyway.

856
00:44:49,480 --> 00:44:50,680
Speaker 2: This is stick to your ribs food.

857
00:44:50,680 --> 00:44:56,480
Speaker 3: This is not going to give you digestive issues and just.

858
00:44:56,400 --> 00:44:59,040
Speaker 2: Like simple carbs and fibers exactly.

859
00:45:00,160 --> 00:45:02,560
Speaker 3: And so she, like the other inmates, slept on a

860
00:45:02,560 --> 00:45:05,080
Speaker 3: crappy old mattress in an old metal bunk bed in

861
00:45:05,120 --> 00:45:06,280
Speaker 3: her cell. It was dismal.

862
00:45:06,400 --> 00:45:08,560
Speaker 2: Can you imagine just for a second, Martha trying to

863
00:45:08,600 --> 00:45:12,840
Speaker 2: like cheer up her place, like making some ruffling like

864
00:45:12,960 --> 00:45:17,520
Speaker 2: very pristine taking hard to get into a picture frames.

865
00:45:17,160 --> 00:45:20,600
Speaker 3: Exactly, but you know she's Martha. Yeah, and that's a

866
00:45:20,640 --> 00:45:23,640
Speaker 3: good thing. A few weeks after she went inside, she

867
00:45:23,760 --> 00:45:26,080
Speaker 3: released a statement via her website. She put on a

868
00:45:26,080 --> 00:45:29,719
Speaker 3: brave face quote, The camp is fine. It's pretty much

869
00:45:29,760 --> 00:45:33,399
Speaker 3: what I anticipated the best news. Everyone is nice, both

870
00:45:33,440 --> 00:45:36,399
Speaker 3: the officials and my fellow inmates. I've adjusted, and I'm

871
00:45:36,480 --> 00:45:39,280
Speaker 3: very busy. The camp is like an old fashioned college

872
00:45:39,320 --> 00:45:43,280
Speaker 3: campus without the freedom, of course. But see, Zaren, people

873
00:45:43,320 --> 00:45:48,960
Speaker 3: weren't always nice. Oh close your eye, Oh, I want

874
00:45:48,960 --> 00:45:57,120
Speaker 3: you to picture. You are an inmate at Federal Prison

875
00:45:57,160 --> 00:46:01,759
Speaker 3: Camp Alderson, aka Camp Cupcake. You are in prison for

876
00:46:01,880 --> 00:46:04,799
Speaker 3: mail fraud. You got caught up in an MLM and

877
00:46:04,840 --> 00:46:07,600
Speaker 3: there were checks involved, and it got very confusing, and

878
00:46:07,640 --> 00:46:10,719
Speaker 3: you knew you were doing something not right, but you

879
00:46:10,800 --> 00:46:14,640
Speaker 3: never imagined it would land you behind bars. It's a beautiful,

880
00:46:14,960 --> 00:46:19,400
Speaker 3: unseasonably warm, early spring day. You're a trustee, meaning you

881
00:46:19,480 --> 00:46:21,839
Speaker 3: do jobs around the prison that allow you all sorts

882
00:46:21,880 --> 00:46:25,400
Speaker 3: of access. You take paper files from one office to another,

883
00:46:25,520 --> 00:46:28,160
Speaker 3: You help do light maintenance, and sometimes you work in

884
00:46:28,200 --> 00:46:31,400
Speaker 3: the laundry. That's where you were able to meet Martha Stewart.

885
00:46:31,880 --> 00:46:34,719
Speaker 3: You were shocked by how kind and serene she was

886
00:46:34,880 --> 00:46:38,480
Speaker 3: very personable and chatty. Pretty soon you didn't even think

887
00:46:38,480 --> 00:46:42,000
Speaker 3: of her as famous. She was as Martha. Today, you're

888
00:46:42,040 --> 00:46:46,880
Speaker 3: mopping a wide hallway. Heavy doors buzz open, some guards

889
00:46:46,920 --> 00:46:49,759
Speaker 3: stride pasted. You head into wherever they seem to be

890
00:46:49,800 --> 00:46:54,280
Speaker 3: constantly going. You are at the intersection of another wide hallway.

891
00:46:54,880 --> 00:46:56,799
Speaker 3: You hear a door buzz open, and you see two

892
00:46:56,920 --> 00:47:00,520
Speaker 3: sharply dressed administrators come towards you on your right. Their

893
00:47:00,560 --> 00:47:04,320
Speaker 3: shoes squeak on the polished cement floors. You know these women.

894
00:47:04,760 --> 00:47:07,440
Speaker 3: They aren't very nice. You look to your left when

895
00:47:07,480 --> 00:47:09,600
Speaker 3: you catch a figure out of the corner of your eye.

896
00:47:10,000 --> 00:47:12,759
Speaker 3: It's Martha. She looks to be headed to her job

897
00:47:12,800 --> 00:47:16,680
Speaker 3: at the laundry. As she approaches the administrators, Martha greets

898
00:47:16,719 --> 00:47:18,960
Speaker 3: them and mentions what a lovely, warm morning it is.

899
00:47:19,440 --> 00:47:22,480
Speaker 3: They don't respond. You slash them up in the bucket.

900
00:47:22,960 --> 00:47:25,759
Speaker 3: Martha then tells them they look very nice today. They

901
00:47:25,760 --> 00:47:28,719
Speaker 3: don't respond. As they pass each other in the hall,

902
00:47:28,840 --> 00:47:32,040
Speaker 3: you see Martha notice the big silver keychain attached to

903
00:47:32,080 --> 00:47:34,799
Speaker 3: the hip of the woman closest to her. You don't

904
00:47:34,840 --> 00:47:38,279
Speaker 3: know if it's accidental or if Martha was feeling particularly

905
00:47:38,320 --> 00:47:42,040
Speaker 3: devilish that day. You've heard her tell some very cutting jokes.

906
00:47:42,440 --> 00:47:44,920
Speaker 3: But as she comes even with the woman with the keys,

907
00:47:44,960 --> 00:47:48,040
Speaker 3: Martha swings her hand out and slightly brushes it against

908
00:47:48,080 --> 00:47:51,800
Speaker 3: the key ring. The women stop in their tracks. Martha

909
00:47:51,880 --> 00:47:56,200
Speaker 3: keeps strolling, now gently whistling a tune inmate, Stuart. The

910
00:47:56,239 --> 00:48:00,480
Speaker 3: woman with the keys barks, get back here. Martha stops

911
00:48:00,520 --> 00:48:04,880
Speaker 3: walking and stops whistling. She turns to look at the women. Yes,

912
00:48:05,520 --> 00:48:08,040
Speaker 3: she says to them, you slash the mop in the

913
00:48:08,080 --> 00:48:11,960
Speaker 3: bucket again, punctuating the silence. Get over here, she shouts

914
00:48:12,000 --> 00:48:16,040
Speaker 3: at Martha. Martha raises an eyebrow and heads back. Yes,

915
00:48:16,200 --> 00:48:18,960
Speaker 3: can I help you? She asks, her chin up and

916
00:48:19,000 --> 00:48:21,640
Speaker 3: a rye smirk on her face. The woman with the

917
00:48:21,680 --> 00:48:24,160
Speaker 3: keys grabs Martha by the upper arm and yanks her

918
00:48:24,239 --> 00:48:28,040
Speaker 3: towards her. You touched an officer. You cannot touch an officer,

919
00:48:28,120 --> 00:48:32,319
Speaker 3: she says sternly. The other administrator pipes up that solitary

920
00:48:32,360 --> 00:48:35,840
Speaker 3: confinement for you. No food, no water, twenty four hours.

921
00:48:36,680 --> 00:48:39,560
Speaker 3: I thought this was camp cupcake, Martha mutters, as the

922
00:48:39,640 --> 00:48:43,160
Speaker 3: administrators drag her away and buzz themselves through another of

923
00:48:43,200 --> 00:48:47,400
Speaker 3: the heavy metal doors. Oh my god, they are putting

924
00:48:47,440 --> 00:48:51,400
Speaker 3: Martha in solitary, you think the shoe. No one is

925
00:48:51,440 --> 00:48:54,239
Speaker 3: going to believe this, And she didn't really touch the

926
00:48:54,280 --> 00:48:57,799
Speaker 3: woman or the keys. You think, man, Martha can't catch

927
00:48:57,840 --> 00:49:00,919
Speaker 3: a break. You resume mopping and make a mental note

928
00:49:00,920 --> 00:49:03,839
Speaker 3: to give administrators a wide berth when you pass them

929
00:49:03,880 --> 00:49:04,600
Speaker 3: in the hall.

930
00:49:05,880 --> 00:49:08,200
Speaker 2: Wow, Martha to the shoe, Martha.

931
00:49:08,760 --> 00:49:12,800
Speaker 3: Martha's time in solitary really showed her all the facets

932
00:49:12,800 --> 00:49:16,520
Speaker 3: of prison life. Like she it was. It was tough,

933
00:49:17,040 --> 00:49:18,719
Speaker 3: but like so she had had like these kind of

934
00:49:18,760 --> 00:49:21,759
Speaker 3: pleasant experiences of it's a college campus. But then she

935
00:49:21,840 --> 00:49:23,799
Speaker 3: realizes the slightest.

936
00:49:23,280 --> 00:49:26,279
Speaker 2: Thing, well, the domination and control.

937
00:49:26,520 --> 00:49:29,040
Speaker 3: Exactly so now she sees it in its totality.

938
00:49:29,160 --> 00:49:31,719
Speaker 2: I'm picturing her like in the solitary, like throwing the

939
00:49:31,719 --> 00:49:38,759
Speaker 2: ball against the wall like Steve McQueen in The Great Escape.

940
00:49:36,800 --> 00:49:39,520
Speaker 3: And like her time wasn't all bad. Obviously, she kept

941
00:49:39,560 --> 00:49:41,800
Speaker 3: a journal while she was there and has written pretty

942
00:49:41,800 --> 00:49:44,520
Speaker 3: extensively about it in some of her books. She has

943
00:49:44,560 --> 00:49:48,240
Speaker 3: this one book, the Martha Rules. Ten Essentials for Achieving

944
00:49:48,320 --> 00:49:51,000
Speaker 3: Success as you start, grow or manage a business.

945
00:49:51,120 --> 00:49:54,160
Speaker 2: Oh, I read the original one, Martha's forty eight Rules

946
00:49:54,160 --> 00:49:59,719
Speaker 2: of Power. Yes, welcome to the shoe. Sorry God.

947
00:50:00,120 --> 00:50:03,600
Speaker 3: So and there she made this observation quote, it is

948
00:50:03,680 --> 00:50:06,600
Speaker 3: no secret that I am accustomed to being in control

949
00:50:07,200 --> 00:50:10,399
Speaker 3: of my life and of my company. What became all

950
00:50:10,440 --> 00:50:13,800
Speaker 3: to a parent during my confinement was how many many

951
00:50:13,880 --> 00:50:16,799
Speaker 3: women are not in control of their lives or what

952
00:50:16,960 --> 00:50:21,960
Speaker 3: happens to them. They endure extraordinarily difficult situations, yet remain

953
00:50:22,160 --> 00:50:26,239
Speaker 3: very strong, nonetheless, both physically and emotionally. I made it

954
00:50:26,280 --> 00:50:29,320
Speaker 3: a priority to really try to understand my fellow inmates,

955
00:50:29,360 --> 00:50:32,120
Speaker 3: and they did the same for me. So she goes

956
00:50:32,160 --> 00:50:35,160
Speaker 3: in with this open mind. A lot of her fellow

957
00:50:35,200 --> 00:50:38,560
Speaker 3: inmates wanted to pick her brain about how she started

958
00:50:38,760 --> 00:50:43,080
Speaker 3: MSLO and how do she exploded it into this cash cow.

959
00:50:43,920 --> 00:50:45,919
Speaker 3: They wanted to know, how did you accomplish so much.

960
00:50:45,960 --> 00:50:49,719
Speaker 3: There was this group of Muslim inmates that approached her

961
00:50:49,800 --> 00:50:51,600
Speaker 3: and asked if she would speak at a form on

962
00:50:51,719 --> 00:50:53,360
Speaker 3: business practices that they were holding.

963
00:50:53,520 --> 00:50:59,120
Speaker 2: We've got a bakery, we want to know how can

964
00:50:59,200 --> 00:50:59,759
Speaker 2: we get this?

965
00:51:00,719 --> 00:51:06,680
Speaker 3: So she she gets permission from the warden to speak

966
00:51:06,719 --> 00:51:09,319
Speaker 3: to the you know, to the Muslim group, and she

967
00:51:09,360 --> 00:51:13,200
Speaker 3: starts prepping her presentation. And I think step one is

968
00:51:13,280 --> 00:51:14,120
Speaker 3: don't trust.

969
00:51:13,840 --> 00:51:16,319
Speaker 2: Your stockbroker is definitely good rule.

970
00:51:17,040 --> 00:51:20,600
Speaker 3: So Martha outlined how to develop what she called quote

971
00:51:20,640 --> 00:51:23,359
Speaker 3: a big idea, and then how you market it, right

972
00:51:23,440 --> 00:51:26,480
Speaker 3: down to all the fine details like internet advertising, all

973
00:51:26,480 --> 00:51:30,120
Speaker 3: this stuff. Presentation was a hit, and she stayed way

974
00:51:30,160 --> 00:51:33,719
Speaker 3: long afterwards to answer everyone's questions. And it was the

975
00:51:33,800 --> 00:51:37,800
Speaker 3: notes for the presentation that later became the Martha Rules

976
00:51:37,840 --> 00:51:41,759
Speaker 3: the Book. So while she was inside, Martha got back

977
00:51:41,760 --> 00:51:45,000
Speaker 3: into pottery. She learned a crochet. On the day that

978
00:51:45,080 --> 00:51:48,279
Speaker 3: she was released from prison March fourth, two thousand and five,

979
00:51:48,360 --> 00:51:52,560
Speaker 3: she did her full five months a full bid. She

980
00:51:52,640 --> 00:51:56,160
Speaker 3: wore this really intricately crocheted poncho that was made for

981
00:51:56,200 --> 00:52:00,520
Speaker 3: her by her new friend and fellow inmate, Shomara her Nandez.

982
00:52:00,600 --> 00:52:03,799
Speaker 2: I think I remember this picture, yeah, picture, yeah, yeah.

983
00:52:03,840 --> 00:52:06,160
Speaker 3: So she comes out wearing the poncho and she's just like,

984
00:52:06,239 --> 00:52:10,520
Speaker 3: uh uh like undeterred of this time. She later wrote quote,

985
00:52:10,760 --> 00:52:13,040
Speaker 3: I knew it was time to assess my life again.

986
00:52:13,400 --> 00:52:15,880
Speaker 3: During my stay, I had been so fortunate to have

987
00:52:15,920 --> 00:52:18,640
Speaker 3: a steady stream of family and friends who visited me.

988
00:52:19,200 --> 00:52:21,920
Speaker 3: Believe me, many women in prison are visited by no

989
00:52:22,000 --> 00:52:24,960
Speaker 3: one for years. There are many things that I missed

990
00:52:25,040 --> 00:52:28,600
Speaker 3: my animals, my homes, fresh food, travel, and the daily

991
00:52:28,719 --> 00:52:32,879
Speaker 3: challenges of managing an endlessly interesting business. But there were

992
00:52:33,000 --> 00:52:35,560
Speaker 3: just as many wonderful things that I had gathered during

993
00:52:35,600 --> 00:52:39,520
Speaker 3: those five months. New friendships, so many ideas, and so

994
00:52:39,640 --> 00:52:43,160
Speaker 3: much information and knowledge from fascinating books that I actually

995
00:52:43,280 --> 00:52:45,880
Speaker 3: had the time to read. I also gained a new

996
00:52:45,920 --> 00:52:49,600
Speaker 3: appreciation for the complexity of every single person's situation.

997
00:52:50,160 --> 00:52:53,920
Speaker 2: I was jumped into the best prison gang. I'm met

998
00:52:53,960 --> 00:52:56,200
Speaker 2: somebody who ran the yard, and that was great for

999
00:52:56,280 --> 00:52:58,040
Speaker 2: me because I learned how they run a yard as

1000
00:52:58,080 --> 00:52:59,600
Speaker 2: opposed to how I run my yard.

1001
00:53:00,080 --> 00:53:00,680
Speaker 3: Tattoos.

1002
00:53:01,560 --> 00:53:04,040
Speaker 2: I got some skin art done, mostly stick and poke,

1003
00:53:04,120 --> 00:53:05,760
Speaker 2: but it was really beautiful stuff.

1004
00:53:06,120 --> 00:53:09,400
Speaker 3: So Martha got out. She's a new woman, but also

1005
00:53:09,440 --> 00:53:10,800
Speaker 3: the same old tough Martha.

1006
00:53:10,880 --> 00:53:11,360
Speaker 2: Yes.

1007
00:53:11,640 --> 00:53:14,360
Speaker 3: August seventh, two thousand and six, the SEC announced a

1008
00:53:14,440 --> 00:53:18,640
Speaker 3: settlement of its civil case. Under the settlement, Martha paid

1009
00:53:18,680 --> 00:53:23,440
Speaker 3: back forty five thousand in avoided losses plus twelve thousand

1010
00:53:23,520 --> 00:53:26,680
Speaker 3: something in interest. She had to pay a civil penalty

1011
00:53:26,719 --> 00:53:29,080
Speaker 3: of one hundred and thirty seven thousand dollars that's three

1012
00:53:29,120 --> 00:53:32,320
Speaker 3: times the avoided losses. She had to accept a five

1013
00:53:32,400 --> 00:53:35,480
Speaker 3: year ban on serving as a director of a public company,

1014
00:53:36,320 --> 00:53:38,640
Speaker 3: and she had to accept a five year limitation on

1015
00:53:38,680 --> 00:53:41,840
Speaker 3: her role as an officer or employee of a public company,

1016
00:53:42,360 --> 00:53:47,360
Speaker 3: excluding her from involvement in financial reporting, SEC filings, internal controls,

1017
00:53:47,360 --> 00:53:52,880
Speaker 3: and related functions. Sure so this is also she settled

1018
00:53:52,920 --> 00:53:56,120
Speaker 3: without admitting or denying the allegations, which is like typical

1019
00:53:56,200 --> 00:54:01,600
Speaker 3: for SEC civil settlements. After her prison and home confinement period,

1020
00:54:01,960 --> 00:54:05,239
Speaker 3: she focused on rebuilding the business, like the credibility of it,

1021
00:54:05,600 --> 00:54:09,480
Speaker 3: and expanding her brand into new channels. And people welcomed

1022
00:54:09,520 --> 00:54:12,480
Speaker 3: her back yea, because she wasn't ashamed.

1023
00:54:12,520 --> 00:54:14,480
Speaker 2: I think she was broken.

1024
00:54:14,680 --> 00:54:16,759
Speaker 3: Yeah. Yeah, And so she's just like, this is who

1025
00:54:16,760 --> 00:54:18,440
Speaker 3: I am, this is what I did. Let's let's keep

1026
00:54:18,480 --> 00:54:19,160
Speaker 3: going interesting.

1027
00:54:19,160 --> 00:54:21,000
Speaker 2: People rallied around her. Yeah.

1028
00:54:21,400 --> 00:54:25,600
Speaker 3: So in two thousand and six, MSLO launched new lifestyle

1029
00:54:25,640 --> 00:54:29,239
Speaker 3: lines and partnerships. They had this multi year agreement with

1030
00:54:29,280 --> 00:54:32,760
Speaker 3: a company to manufacture and market a line of carpet tiles.

1031
00:54:33,719 --> 00:54:36,160
Speaker 3: They had a new line of interior paint at Low's,

1032
00:54:36,239 --> 00:54:40,440
Speaker 3: which replaced a previous paint partner. Around two thousand and seven,

1033
00:54:41,160 --> 00:54:44,680
Speaker 3: she launched a homewares line at Macy's. So she goes

1034
00:54:44,800 --> 00:54:48,719
Speaker 3: a step up featuring more than two thousand items. That

1035
00:54:48,840 --> 00:54:52,040
Speaker 3: was described as the largest brand launch in Macy's history

1036
00:54:52,160 --> 00:54:52,720
Speaker 3: of the time.

1037
00:54:52,840 --> 00:54:53,400
Speaker 2: Good for her.

1038
00:54:53,560 --> 00:54:57,320
Speaker 3: On the media side, her network extended into satellite radio.

1039
00:54:57,520 --> 00:55:02,880
Speaker 3: There's a serious XM channel Martha Stewart Living Radio, publishing

1040
00:55:02,920 --> 00:55:06,240
Speaker 3: and content still played a role. They tested and launched

1041
00:55:06,280 --> 00:55:09,839
Speaker 3: various magazine titles aimed at younger demographics. So they had

1042
00:55:09,880 --> 00:55:14,160
Speaker 3: one like Blueprint Design Your Life. In the push into

1043
00:55:14,200 --> 00:55:18,360
Speaker 3: mass licensing, home goods, paint, blah blah blah. She's leveraging

1044
00:55:18,400 --> 00:55:21,759
Speaker 3: the Martha name, like beyond everything that has had and

1045
00:55:21,800 --> 00:55:25,400
Speaker 3: it's trust building for the public. So the new product

1046
00:55:25,480 --> 00:55:29,759
Speaker 3: lines media ventures. They reframe her as this resilient entrepreneur

1047
00:55:30,400 --> 00:55:34,719
Speaker 3: rather than like making her purely scandal anker. And we

1048
00:55:34,760 --> 00:55:38,440
Speaker 3: see that MSLO goes from being a high growth IPO

1049
00:55:38,600 --> 00:55:43,759
Speaker 3: company into like a more diversified licensing and brand managements.

1050
00:55:43,040 --> 00:55:45,040
Speaker 2: And just for the people. It makes her far more real.

1051
00:55:45,160 --> 00:55:47,680
Speaker 2: She was previously a perfectionist, and now she's gone to

1052
00:55:47,719 --> 00:55:50,160
Speaker 2: prison and come out and redeemed herself. She can't be

1053
00:55:50,320 --> 00:55:52,680
Speaker 2: whether she was the ice cream before exactly.

1054
00:55:52,719 --> 00:55:57,040
Speaker 3: She's sort of humbled by it, but yet not brought low.

1055
00:55:57,160 --> 00:56:01,280
Speaker 2: She's like broad she's been she knows of the people

1056
00:56:01,320 --> 00:56:04,919
Speaker 2: now right exactly thought ent her farmhouse over there wherever.

1057
00:56:04,800 --> 00:56:08,319
Speaker 3: When the van was lifted. September of twenty eleven, she

1058
00:56:08,440 --> 00:56:12,240
Speaker 3: rejoined the board of MSLO and then May of twenty

1059
00:56:12,239 --> 00:56:15,399
Speaker 3: twelve she became non executive chair of the company. Again,

1060
00:56:16,600 --> 00:56:20,560
Speaker 3: their retail like licensing relationships got a little bit of tension.

1061
00:56:20,600 --> 00:56:25,000
Speaker 3: There was a legal dispute between Macy's and Martha Stewart

1062
00:56:25,000 --> 00:56:29,200
Speaker 3: Living Omnimedia J C. Penny over who had the exclusive

1063
00:56:29,280 --> 00:56:33,239
Speaker 3: rights to her home care or her home products. On

1064
00:56:33,280 --> 00:56:37,960
Speaker 3: the media side, that flagship Martha Stewart Living Magazine and

1065
00:56:38,000 --> 00:56:41,239
Speaker 3: all the other print publications, you know, they were going

1066
00:56:41,360 --> 00:56:45,400
Speaker 3: up against the deaths of the magazine industry, you know,

1067
00:56:45,480 --> 00:56:49,560
Speaker 3: declining subscriptions and ad revenues. Digital media is gaining strengths,

1068
00:56:49,560 --> 00:56:52,560
Speaker 3: so they have to kind of pivot around there. In

1069
00:56:52,640 --> 00:56:55,600
Speaker 3: twenty eleven, New York Magazine reported that Martha Stewart Living

1070
00:56:55,640 --> 00:56:59,520
Speaker 3: Magazine had been profitable only once in the previous eight years.

1071
00:57:00,840 --> 00:57:02,880
Speaker 2: A so you know, it was more of like an

1072
00:57:02,920 --> 00:57:05,000
Speaker 2: advertising arm for the rest of Ust totally.

1073
00:57:05,040 --> 00:57:07,800
Speaker 3: And then so they you know, they then lost later, yes,

1074
00:57:07,960 --> 00:57:10,960
Speaker 3: they'd start leaning more into like the collaborations on stuff

1075
00:57:12,120 --> 00:57:16,480
Speaker 3: they adapted to online catalog commerce, that kind of stuff.

1076
00:57:16,720 --> 00:57:21,040
Speaker 3: June twenty second, twenty fifteen, MSLO agreed to be acquired

1077
00:57:21,080 --> 00:57:24,240
Speaker 3: by Sequential Brands Group for roughly three hundred and fifty

1078
00:57:24,240 --> 00:57:28,000
Speaker 3: three million dollars. And then on April sixteenth, twenty nineteen,

1079
00:57:28,160 --> 00:57:33,040
Speaker 3: Sequential Brands agreed to sell MSLO and the Emerald brand,

1080
00:57:33,040 --> 00:57:35,560
Speaker 3: which I guess they had already picked up to Marquee

1081
00:57:35,600 --> 00:57:38,800
Speaker 3: Brands for one hundred and seventy five million with additional

1082
00:57:38,840 --> 00:57:44,320
Speaker 3: contingent payments. So with that acquisition, Martha Stewart Living Omnimedia

1083
00:57:44,480 --> 00:57:48,280
Speaker 3: stopped being a publicly traded company. The ticker was delisted.

1084
00:57:48,720 --> 00:57:54,280
Speaker 3: It became a privately held brand portfolio. Martha retained involvement

1085
00:57:54,480 --> 00:57:58,600
Speaker 3: basically as brand ambassador. She was not the operating CEO. Okay,

1086
00:57:59,040 --> 00:58:02,440
Speaker 3: and so from twenty nineteen onward she has focused on

1087
00:58:02,560 --> 00:58:07,720
Speaker 3: expansion into new product categories like digital stuff all these partnerships.

1088
00:58:08,400 --> 00:58:11,680
Speaker 3: In twenty twenty five, she went into skincare. Apparently she

1089
00:58:11,720 --> 00:58:16,280
Speaker 3: has a skincare line now Elm Biosciences targeted for women

1090
00:58:16,360 --> 00:58:20,280
Speaker 3: of a certain age. She also got amazing plastic surgery

1091
00:58:20,320 --> 00:58:23,160
Speaker 3: that looks natural. Kids call a glow up.

1092
00:58:23,360 --> 00:58:25,760
Speaker 2: Yeah. I never am able to track that stuff. I

1093
00:58:25,800 --> 00:58:27,959
Speaker 2: just think if they suddenly just too much their face,

1094
00:58:28,000 --> 00:58:28,640
Speaker 2: I'm like, they must have.

1095
00:58:29,400 --> 00:58:31,520
Speaker 3: No, she just looks amazing, Like she's.

1096
00:58:31,360 --> 00:58:33,160
Speaker 2: Like got brad Pitt's people where they're like, oh, you

1097
00:58:33,200 --> 00:58:36,360
Speaker 2: can't really tell. Bradley Cooper's people are like, oh, it's like,

1098
00:58:36,440 --> 00:58:37,919
Speaker 2: is that very man you pulled too tight?

1099
00:58:38,120 --> 00:58:41,280
Speaker 3: Yeah, there's like clips on the back of their head.

1100
00:58:41,880 --> 00:58:45,160
Speaker 3: So she's still all over television and online media. And

1101
00:58:45,200 --> 00:58:46,760
Speaker 3: then there's her friendship with Snoop.

1102
00:58:47,000 --> 00:58:48,760
Speaker 2: I was like holding my tongue on that. Yeah, I

1103
00:58:48,800 --> 00:58:50,160
Speaker 2: figure you hadn't mentioned it yet.

1104
00:58:51,040 --> 00:58:53,200
Speaker 3: It starts off In November of two thousand and eight,

1105
00:58:53,680 --> 00:58:57,040
Speaker 3: Snoop appeared on The Martha Stewart Show and he and

1106
00:58:57,080 --> 00:59:00,720
Speaker 3: Martha made mashed potatoes together, and then she learned his

1107
00:59:00,880 --> 00:59:05,760
Speaker 3: vocabulary like phoushizzle. The next year, they reunited on the

1108
00:59:05,800 --> 00:59:08,720
Speaker 3: show for a holiday episode, making green Brownie.

1109
00:59:08,800 --> 00:59:09,600
Speaker 2: That's what I remember.

1110
00:59:09,840 --> 00:59:13,960
Speaker 3: Yeah. November seventh, twenty sixteen, Martha and Snoop's pot luck

1111
00:59:14,000 --> 00:59:16,320
Speaker 3: dinner party premiered on VH one.

1112
00:59:16,840 --> 00:59:18,800
Speaker 2: She's really leaning into the whole pot thing, right.

1113
00:59:18,720 --> 00:59:22,480
Speaker 3: Yes, exactly, and so they had like celebrity guests themed

1114
00:59:22,480 --> 00:59:27,720
Speaker 3: dinner parties, and they like fun banter. April third, twenty nineteen,

1115
00:59:27,760 --> 00:59:32,120
Speaker 3: they launched a spinoff, Martha and Snoop's pot Luck Party Challenge,

1116
00:59:32,360 --> 00:59:36,080
Speaker 3: where Snoop and Martha competed with celebrity friends and cooking challenges.

1117
00:59:37,480 --> 00:59:39,680
Speaker 2: I don't remember that, yeah.

1118
00:59:39,760 --> 00:59:42,640
Speaker 3: In October of twenty eighteen, Martha wrote the foreword for

1119
00:59:42,720 --> 00:59:46,959
Speaker 3: Snoop Dogg's cookbook, From Crook to Cook Platinum Recipes from

1120
00:59:47,240 --> 00:59:49,120
Speaker 3: the Boss Dog's Kitchen.

1121
00:59:49,640 --> 00:59:52,400
Speaker 2: Snoop the Cookbook, I had no idea. From Crook to

1122
00:59:52,520 --> 00:59:55,720
Speaker 2: Cook Platinum Recipes.

1123
00:59:55,240 --> 01:00:00,840
Speaker 3: Platinum Recipes from the Thha Boston Kitchen twy seconds. Twenty

1124
01:00:00,880 --> 01:00:04,360
Speaker 3: twenty two, Martha launched the Martha Stewart Podcast, and Snoop

1125
01:00:04,440 --> 01:00:05,240
Speaker 3: was her first guest.

1126
01:00:05,360 --> 01:00:08,000
Speaker 2: Of course. I mean now they're branded, yeah this point.

1127
01:00:08,040 --> 01:00:11,520
Speaker 3: November twenty twenty three, Martha and Snoop teamed up with

1128
01:00:11,600 --> 01:00:13,720
Speaker 3: the brand Bick, the lighter company.

1129
01:00:13,800 --> 01:00:16,880
Speaker 2: Yeah about ask Click Click launched.

1130
01:00:16,480 --> 01:00:20,200
Speaker 3: Its easy reach utility lighters and tapped Martha and Snoop

1131
01:00:20,440 --> 01:00:24,120
Speaker 3: as like co faces of the campaign, positioning them as

1132
01:00:24,240 --> 01:00:30,120
Speaker 3: quote best buds who needed safer, longer neck lighters for candles, grills,

1133
01:00:30,160 --> 01:00:32,840
Speaker 3: and then weed was heavily implied.

1134
01:00:32,600 --> 01:00:35,280
Speaker 2: Oh, they have so many uses for a long necked bit.

1135
01:00:35,920 --> 01:00:39,320
Speaker 3: And then there was Best Buds Bags, which were cross

1136
01:00:39,400 --> 01:00:42,720
Speaker 3: body bags designed to hold a big, easy reach lighter

1137
01:00:42,800 --> 01:00:45,440
Speaker 3: and they were promoted as like weed friendly and stylish,

1138
01:00:46,080 --> 01:00:48,160
Speaker 3: and each one of them designed their own bags.

1139
01:00:48,160 --> 01:00:49,440
Speaker 2: Are you a Dope Dealer on the go?

1140
01:00:49,840 --> 01:00:53,520
Speaker 3: They've also co hosted and appeared together at a bunch

1141
01:00:53,560 --> 01:00:57,240
Speaker 3: of different events, the twenty twenty one and twenty twenty

1142
01:00:57,280 --> 01:00:58,240
Speaker 3: two Puppy.

1143
01:00:57,880 --> 01:01:00,400
Speaker 2: Bowl Oh Okay.

1144
01:01:00,160 --> 01:01:04,000
Speaker 3: Rival coaches of Team Rough and Team Fluff, and they

1145
01:01:04,120 --> 01:01:08,640
Speaker 3: appeared throughout the three hour special. They were Halloween themed specials.

1146
01:01:08,960 --> 01:01:11,400
Speaker 3: There was the Olympics where Martha got snooped to ride

1147
01:01:11,440 --> 01:01:14,240
Speaker 3: a horse and get super into dressauce that was actually

1148
01:01:14,240 --> 01:01:17,080
Speaker 3: really that was really funny, and other TV like live

1149
01:01:17,680 --> 01:01:20,320
Speaker 3: event tie ins. What's Martha doing these days?

1150
01:01:20,400 --> 01:01:21,800
Speaker 2: What is she doing these days? Elizabeth?

1151
01:01:21,840 --> 01:01:24,960
Speaker 3: She's currently co host and executive producer of Yes Chef

1152
01:01:25,120 --> 01:01:28,760
Speaker 3: on NBC. Never heard of it. It's twelve talented but

1153
01:01:28,920 --> 01:01:31,640
Speaker 3: hot tempered chefs face off against each other.

1154
01:01:31,720 --> 01:01:34,240
Speaker 2: Yeah. Wait, before before we leave, Snoop, did Snoop ever

1155
01:01:34,280 --> 01:01:36,520
Speaker 2: get to take Martha to like the hood or like

1156
01:01:36,520 --> 01:01:37,439
Speaker 2: the cookout or anything.

1157
01:01:37,520 --> 01:01:38,440
Speaker 3: Seems like he's always doing.

1158
01:01:38,800 --> 01:01:42,840
Speaker 2: Yeah, she's doing the plotlucks with her. Does she ever

1159
01:01:42,960 --> 01:01:45,920
Speaker 2: like go like Martha at the cookout in Long Beach?

1160
01:01:47,280 --> 01:01:47,640
Speaker 3: Maybe?

1161
01:01:47,880 --> 01:01:48,960
Speaker 2: Check I wrote my check in.

1162
01:01:52,160 --> 01:01:54,240
Speaker 3: I don't know. I don't know. Did she has she

1163
01:01:54,280 --> 01:01:55,400
Speaker 3: appeared in any videos?

1164
01:01:55,840 --> 01:01:58,000
Speaker 2: I tried my hand at the Magic City recipe for

1165
01:01:58,040 --> 01:01:58,560
Speaker 2: the wings.

1166
01:01:58,880 --> 01:02:04,080
Speaker 3: Oh that Magic City Love and Pepper so chef Jose Andres.

1167
01:02:03,680 --> 01:02:04,800
Speaker 2: Is her guy.

1168
01:02:04,880 --> 01:02:08,040
Speaker 3: He's a really good dude. The Martha Stewart Channel is

1169
01:02:08,080 --> 01:02:11,440
Speaker 3: a free streaming service on Pluto TV. Has over a

1170
01:02:11,520 --> 01:02:15,520
Speaker 3: thousand episodes just on on a loop. Sure there's you know.

1171
01:02:15,600 --> 01:02:18,840
Speaker 3: She's also doing the print publication again. Martha Stewart Holidays

1172
01:02:18,880 --> 01:02:22,920
Speaker 3: is out for twenty twenty five covers Thanksgiving through New Year's.

1173
01:02:22,840 --> 01:02:25,080
Speaker 2: Kind of boiled her peak seasons.

1174
01:02:25,320 --> 01:02:29,080
Speaker 3: Yes, exactly so. The Martha Stewart aesthetic, as they call it,

1175
01:02:29,120 --> 01:02:31,640
Speaker 3: is supposed to be like, according to trend watchers, like

1176
01:02:31,800 --> 01:02:34,040
Speaker 3: booming this year and into next.

1177
01:02:34,080 --> 01:02:35,439
Speaker 2: I could see that because it's like.

1178
01:02:35,360 --> 01:02:38,320
Speaker 3: The boho nature based decor slow living.

1179
01:02:38,560 --> 01:02:41,360
Speaker 2: Yeah, slow living, but also has an error traditionalism without

1180
01:02:41,400 --> 01:02:42,200
Speaker 2: being conc.

1181
01:02:42,520 --> 01:02:44,919
Speaker 3: The gtalgia that the millennials call.

1182
01:02:44,880 --> 01:02:47,040
Speaker 2: That is true nostalgia for the early two thousands.

1183
01:02:47,520 --> 01:02:51,600
Speaker 3: So Martha, she's involved in real estate design production collaborations.

1184
01:02:51,600 --> 01:02:55,280
Speaker 3: She's got a housing kit line that uses four home

1185
01:02:55,280 --> 01:03:00,160
Speaker 3: style models inspired by her own estates in med for at,

1186
01:03:00,200 --> 01:03:03,520
Speaker 3: East Hampton, New York and Maine. You can buy like

1187
01:03:03,600 --> 01:03:07,919
Speaker 3: you can buy one of her riffing off of them. Sure,

1188
01:03:08,280 --> 01:03:11,240
Speaker 3: basically Martha's out there living her best life, looking amazing

1189
01:03:11,360 --> 01:03:14,320
Speaker 3: for her breaking in money. However, I doubt she's as

1190
01:03:14,320 --> 01:03:17,360
Speaker 3: happy is Ina Garten, and happiness is what really matters.

1191
01:03:18,600 --> 01:03:22,800
Speaker 3: Is there? What's your ridiculous takeaway?

1192
01:03:23,240 --> 01:03:25,920
Speaker 2: I mean, I hate to limit it to her friendship

1193
01:03:25,960 --> 01:03:29,320
Speaker 2: with Snoop. You know I know the most about that,

1194
01:03:29,400 --> 01:03:31,960
Speaker 2: and but I'm okay, you know what, forget that, I'm

1195
01:03:32,000 --> 01:03:34,480
Speaker 2: skipping that. I'm going to say the ridiculous part is

1196
01:03:35,040 --> 01:03:39,080
Speaker 2: that her time in prison really made her. It was

1197
01:03:39,120 --> 01:03:41,840
Speaker 2: one of the few instances of like, oh, it reformed her,

1198
01:03:42,160 --> 01:03:45,440
Speaker 2: maybe not her personally, but her brand. So at least

1199
01:03:45,480 --> 01:03:47,720
Speaker 2: prison for once worked out and did the thing it's

1200
01:03:47,720 --> 01:03:49,760
Speaker 2: supposed to do, which is make a person better when

1201
01:03:49,760 --> 01:03:52,720
Speaker 2: they come out. So that's ridiculous. You didn't think that

1202
01:03:52,760 --> 01:03:54,720
Speaker 2: prison would make Martha Steward a better person.

1203
01:03:54,880 --> 01:03:55,360
Speaker 3: Exactly?

1204
01:03:55,440 --> 01:03:55,960
Speaker 2: How about that?

1205
01:03:56,080 --> 01:04:01,080
Speaker 3: Exactly? I don't mess with Martha.

1206
01:04:01,320 --> 01:04:02,080
Speaker 2: You came in with that.

1207
01:04:02,320 --> 01:04:04,680
Speaker 3: You just don't mess with the Big Dome with it too.

1208
01:04:04,800 --> 01:04:09,080
Speaker 3: I'm living with it too. I would love a talkback, actually, Dave.

1209
01:04:13,160 --> 01:04:18,720
Speaker 2: Oh my god, Suber Hello, Jee.

1210
01:04:22,240 --> 01:04:22,520
Speaker 3: Hello.

1211
01:04:23,120 --> 01:04:25,520
Speaker 4: I was listening to an episode a couple of months ago.

1212
01:04:26,800 --> 01:04:28,640
Speaker 4: I don't remember which one it wasn't it doesn't matter,

1213
01:04:28,800 --> 01:04:31,920
Speaker 4: but Zaron was saying that he thinks the Fahrenheit's system

1214
01:04:32,600 --> 01:04:37,360
Speaker 4: is a better system of temperature than Celsius, and I thought, wow,

1215
01:04:37,760 --> 01:04:39,800
Speaker 4: Zaron seems like a smart man. I'd love to hear

1216
01:04:39,880 --> 01:04:43,440
Speaker 4: his reasoning for that. Something that makes more sense than

1217
01:04:44,080 --> 01:04:48,120
Speaker 4: zero degrees water freezers, one hundred degrees water boils and

1218
01:04:48,120 --> 01:04:50,320
Speaker 4: his reason bigger number sound hotter?

1219
01:04:52,080 --> 01:04:52,360
Speaker 3: It is?

1220
01:04:52,440 --> 01:04:55,520
Speaker 2: It is, It is true. It seems more tied to

1221
01:04:55,560 --> 01:04:58,840
Speaker 2: the human body as opposed to tied to the dimensions

1222
01:04:58,840 --> 01:05:01,440
Speaker 2: of water, and then what it as different states. So

1223
01:05:01,480 --> 01:05:03,440
Speaker 2: I'm like, you know, if you tell me that the

1224
01:05:04,120 --> 01:05:06,560
Speaker 2: like the weather I'm going to be dealing with, Fahrenheit

1225
01:05:06,640 --> 01:05:08,840
Speaker 2: helps me as a human being, And there's more of

1226
01:05:08,920 --> 01:05:10,640
Speaker 2: us than than I think sentient water.

1227
01:05:10,800 --> 01:05:14,480
Speaker 3: So I just like anything that's not scientific.

1228
01:05:14,720 --> 01:05:17,760
Speaker 2: Yeah I know that, but trust I'm so you're a

1229
01:05:17,760 --> 01:05:20,560
Speaker 2: man of science. But theoretically, yeah, i'm a I think

1230
01:05:20,560 --> 01:05:23,120
Speaker 2: it's great for science. I love the metric system. I

1231
01:05:23,160 --> 01:05:25,680
Speaker 2: wish I wish we would have taught Americans this so

1232
01:05:25,760 --> 01:05:28,840
Speaker 2: we weren't these like holdouts with our stupid system. I

1233
01:05:28,840 --> 01:05:31,440
Speaker 2: think our whole like you continuing use of like whatever,

1234
01:05:31,480 --> 01:05:34,360
Speaker 2: the royal system, like the foots and pounds and all

1235
01:05:34,360 --> 01:05:36,400
Speaker 2: this stuff we do. It's silly. I would love to

1236
01:05:36,400 --> 01:05:39,520
Speaker 2: go to the metric system, except for Celsius for whatever reason,

1237
01:05:39,680 --> 01:05:42,240
Speaker 2: just doesn't work for weather, and that's really when we

1238
01:05:42,280 --> 01:05:44,560
Speaker 2: talk about temperature for the most part. And for cooking.

1239
01:05:44,920 --> 01:05:46,560
Speaker 2: I don't know how it would go because I don't cook,

1240
01:05:46,600 --> 01:05:48,840
Speaker 2: so I really can't tell you, like if three hundred

1241
01:05:48,840 --> 01:05:52,600
Speaker 2: and fifty degrees it's gonna be better. People use celsius

1242
01:05:52,640 --> 01:05:58,000
Speaker 2: when you're cooking, or do they do it like British? See,

1243
01:05:58,040 --> 01:06:00,479
Speaker 2: I don't even know. That's how little cooking or reading

1244
01:06:00,520 --> 01:06:01,400
Speaker 2: of cookbooks I do.

1245
01:06:01,880 --> 01:06:05,400
Speaker 3: I just like I like more ballpark measurements, like yay, big.

1246
01:06:05,560 --> 01:06:09,520
Speaker 2: Yeah, you're all about that at just pinch of this sprinkle.

1247
01:06:10,080 --> 01:06:13,720
Speaker 3: If I want to say it's hot, What's what's the temperature? Jubble,

1248
01:06:14,840 --> 01:06:18,200
Speaker 3: It's really hot and muggy. Okay, I'm that's it for today.

1249
01:06:18,920 --> 01:06:21,480
Speaker 3: You can find us online at ridiculous Crime dot com.

1250
01:06:21,520 --> 01:06:25,160
Speaker 3: We're also at Ridiculous Crime on both Blue Sky and Instagram.

1251
01:06:25,480 --> 01:06:29,760
Speaker 3: We're on YouTube at Ridiculous Crime. Podda email Ridiculous Crime

1252
01:06:29,760 --> 01:06:32,480
Speaker 3: at gmail dot com, leave a talkback on the iHeart

1253
01:06:32,480 --> 01:06:40,800
Speaker 3: Apple reach out. Ridiculous Crime is hosted by Elizabeth Dunnan

1254
01:06:40,960 --> 01:06:44,920
Speaker 3: Zaren Burnette, produced and edited by Domestic Warlock Dave Cousten

1255
01:06:45,240 --> 01:06:49,080
Speaker 3: starring and Least Rutgers Judith. Research is by Robin Zig,

1256
01:06:49,080 --> 01:06:53,360
Speaker 3: Blue Craft Paint enthusiast Marissa Brown and Hot Blue Gunslinger

1257
01:06:53,440 --> 01:06:56,840
Speaker 3: Jabari Davis. The theme song is by Martha's Potato Harvester

1258
01:06:56,960 --> 01:07:00,720
Speaker 3: Thomas Lee and Turkey Hill in House Quesadilla Cooked Travis Dutton.

1259
01:07:00,840 --> 01:07:03,960
Speaker 3: Post wardrobe is provided by Botany five hundred Guest hair

1260
01:07:04,040 --> 01:07:07,880
Speaker 3: and makeup by Sparkleshot and Mister Andre. Executive producers are

1261
01:07:07,920 --> 01:07:10,919
Speaker 3: two guys out of Martha Stewart Wath Building Seminar, Ben

1262
01:07:10,960 --> 01:07:12,480
Speaker 3: Boleen and Noel Brown.

1263
01:07:17,600 --> 01:07:23,400
Speaker 2: Redicus Crime Say It One More Time Crime.

1264
01:07:24,400 --> 01:07:27,760
Speaker 1: Ridiculous Crime is a production of iHeartRadio. Four more podcasts

1265
01:07:27,880 --> 01:07:31,040
Speaker 1: My heart Radio, visit the iHeartRadio app, Apple Podcasts, or

1266
01:07:31,080 --> 01:07:32,880
Speaker 1: wherever you listen to your favorite shows.