Pfizer Sued, Newsom Bans Smartphones, Death of Cable & Boeing Senate Hearing | PBD Podcast | Ep 427
Patrick Bet-David, Vincent Oshana, Tom Ellsworth, and Adam Sosnick cover the biggest stories in business, politics, current events, and more!
00:00 - Show intro
04:39 - PBD announces the new VT 4th of July Merch - https://bit.ly/3z6VaLM
07:24 - Kansas sues Pfizer over ‘misrepresentations’ and ‘adverse events’ of COVID-19 vaccine.
28:31 - Kevin O’Leary explains why restaurants are shuttering across America — and why more will follow.
42:21 - More retirees consider returning to work as high inflation squeezes
53:52 - The importance of fathers in their children's lives.
1:02:01 - Gavin Newsom wants to take smartphones out of schools.
1:10:26 - Luxury real estate world rocked by rape allegations against star broker.
1:28:53 - Money can’t buy happiness—it’s actually the other way around: Happy people ‘are more successful in life,’ expert says
1:40:05 - Pay TV is in so much trouble that even its one bright spot is dimming.
1:48:45 - Boeing CEO apologizes to families of crash victims at Senate hearing.
2:02:38 - MSNBC analyst suggests black voters shifting to Trump because of ‘Disinformation.’
2:14:29 - Trump encourages voters to write ‘no tax on tips’ on restaurant receipts.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
Why would you pat on Goliath when we got bet dated?
Value payment, giving values contagious.
This world of entrepreneurs, we can't know value to hated.
Howdy, running, homie, look what I become.
I'm the one.
Rob, what episode?
This is 427.
This is 427.
You just heard Rob say it, episode 427.
Cobra.
By the way, I saw a video that you guys got to see.
Rob, I'm going to text you this story.
It's NBC saying the fact that YouTube has now become a right-wing Christian commentary channel.
Have you seen this article?
I'll send it to you guys.
We'll comment on that.
But a lot of weird things going on.
Stephen Baldwin said something that has to do with November, and he got biblical.
You guys got to see this video.
This is the brother of the, what do you call it? Alec Baldwin.
Pistol Alec Baldwin.
Hey, Mr. B, how you doing?
Alec Baldwin.
MSNBC analysts suggest black voters shifting to Trump because of disinformation.
Okay, so that's another story we got to cover.
Bannon predicts Trump will be sentenced to years in prison.
And at the same time, Mediate story comes out saying not at all what Bannon was hoping for.
Ex-Trump advisor will reportedly serve prison sentence alongside violent criminals and may end up at Rikers, which is ridiculous.
But anyways, we'll talk about that.
NetNyow slams Joe Biden for withholding large bombs from Israel.
You'll see the video.
He was pretty passionate.
Average American, if you're watching this, do you agree with this analysis?
Average American feels at least 10 years older than they actually are and all blame the same day today annoyance.
We'll talk about that.
Kansas, the state Kansas, sues Pfizer over misrepresentations and adverse events of COVID-19 vaccine.
Wait to see what the lawyer has to say about this.
I mean, it's a very interesting angle they're taking.
We'll talk about that here in a moment.
Gavin Newsom, he wants to win you over, folks.
This is actually pretty good policy.
You ready for this?
Gavin Newsom wants to take smartphones out of schools.
Yes, Gavin Newsom from California wants to take smartphones out of schools.
J-Lo, article came out, Wall Street Journal.
This was supposed to be J-Lo's year.
What happened?
NVIDIA is officially the world's most valuable company, passing Microsoft.
Luxury real estate world rocked by rape allegations.
We didn't cover last time.
We're going to get into it right off the bat.
Money can't buy happiness, says CNBC.
It's actually the other way around.
Happy people are more successful in life, experts say.
Kevin O'Leary explains why restaurants are shuttering across America and why more will follow.
More retirees consider returning to work as high inflation squeezes.
Boeing CEO apologizes in his own way after revealing how much money he made.
Maybe he didn't want to reveal it.
Maybe somebody else got him to reveal his income.
But he apologized to families of crash victims at Senate hearing.
Pay TV is in so much trouble that even its one bright spot is dimming.
There's a bunch of Newsmax lost $42 million.
Do they need to go IPO?
We'll talk about that.
Streaming top and broadcast, cable viewership by double digits in May.
We'll talk about that.
Fauci's on a legacy tour.
I don't understand why they're not grateful for such a fantastic job we did.
Terribly frustrating.
Americans don't appreciate how I manage COVID-19, says Mr. Fauci.
And anyway, so that's that part.
New York Times bestseller list, Tom's got some thoughts on it because he used to have a publisher.
For a matter of fact, he published my first book, I think, if I'm not mistaken, doing the impossible.
Yes.
People are delaying buying new cars, creating a deflationary spiral.
That's bad news for the auto industry.
Now, again, and then I got a clip from Rosie O'Donnell where one of his girls' daughters comes.
One of, well, they, we have to get these.
I'm trying to improve anything.
Be pronounced specifically.
See, they, she, her, us, daughter came out and said that what, you know, gender and its infant.
You just have to watch this.
ClaVinny just showed it to me.
It's very, very entertaining to see this clip.
People are being so confused.
Parents are not confused.
A lot of weird things going on.
However, here's what's happening.
One of my favorite holidays of the year is around the corner, 4th of July.
And we've been working on this merch drop for a while.
A lot of you have been asking about Pat.
I want a USA flag.
I want an American flag.
I want something with Value Taint.
That's the American flag to represent for 4th of July.
And at the same time, I want there to say Future Looks Bright.
I want it to be VT gear.
Can we get some?
So today, we're giving it to you to purchase.
So you can wear this gear during 4th of July, which is what, a week and a half away.
So if you order, these are limited supplies.
So let me tell you what we got here.
We got this Valutainment hat with the American flag and Future Looks Bright on the side, which is here for you to order.
We got this other one, the Navy Blue with the red Valutain logo, Future Looks Bright, and American flag on the side.
And this is so far right now, Vinny's favorite.
This is Chris's favorite.
And this is Tom's favorite for golfers.
Tom likes this one.
But this one right here says USA.
This is, I think it's a USA for those who love America flag on the side.
Future looks bright.
Future looks bright here.
And then we got these shirts here as well.
Okay, if you look at the screen there with the material, you got to feel the material, incredible material.
Valutainment with the U.S. flag.
If you're somebody that loves America and you love Valutaine, you love the representation that we have on what we talk about and you want to walk around because nowadays people are stopping each other.
People are stopping each other.
I say, you're a value tainter.
I'm also a value tainter.
I watch this.
I watch that.
And you're kind of finding, it's almost like a, you know what it's like?
You know how back in the days, there were certain tattoos people had to be able to know you're also part of that community.
I am as well.
There's certain gangs and communities that had this for a long time.
This is one way where you see somebody with a value tame hat.
You don't have to say anything to the other person.
You know what they stand for and they know what you stand for.
And it's a very unique connection that takes place.
And I get these DMs all the time and Manex all the time and messages all the time.
So limited supply.
The last time we did the green hat, people are like, oh, it's not going to sell out.
Sold out within 90 minutes.
This is limited supply.
So go place your order.
That's the QR code.
Vtmerch.com.
Again, go to vtmerch.com, place your order for 4th of July gear.
Now, anybody places an order over 300, I think we have 10 more seats left to be with us to watch the debate on June 27th.
So place an order over 300.
You'll be invited to be with us and a friend at our club, 5990 Life Cigars, Conversations, all that stuff.
We'll watch a debate June 27th.
I think it's going to be from 8.30 to like 11 o'clock at night.
We'll be together.
All right.
Having said that, let's get right into it.
First story I want to get into is Kansas sues Pfizer over misrepresentations and adverse events of COVID-19 vaccine.
Now, this is not a regular lawyer suing somebody.
This is not an independent lawyer suing somebody.
This is a state suing Pfizer.
Kansas has sued Pfizer for allegedly misleading the public by marketing its COVID-19 vaccine as safe and effective while concealing serious adverse events, including myocarditis, failed pregnancies, and deaths.
And a 69-page lawsuit claims Pfizer misled the public and concealed critical safety information.
The lawsuit filed by Attorney General Chris Kolbach asserts Pfizer earned record company revenue of $75 billion over two years through these misrepresentations.
It alleges that administered in Kansas or let me see it alleges that millions of Kansas heard Pfizer's misrepresentations with over 3.3 million doses administered in Kansas and that Pfizer used these methods confidentially agreements and altering control groups to conceal critical data.
Pfizer responded stating it is proud to have developed the COVID-19 vaccine in record time and that its representations have been accurate and science-based.
Rob, do you have a clip of what the lawyer says?
If you have that clip prepared, I want to kind of go to that first and then we'll go to commentary.
So again, the reason why this is a big deal, this is a state, folks, a state.
Go ahead, Rob.
Pfizer marketed its vaccine as safe for pregnant women.
Rob, can you do February of 2020?
Pause attorney so I can read it.
This is Kansas Attorney General.
Go ahead.
Pfizer possessed reports for 458 pregnant women who received Pfizer's COVID-19 vaccine during pregnancy.
More than half of the pregnant women reported an adverse event, and more than 10% reported a miscarriage, many within days of the vaccination.
Pfizer also possessed information from its own October 2020 study on pregnancy in rats, indicating that its COVID-19 vaccine was likely linked to infertility, loss of litters, and stillborn offspring.
Number two, safety relating to heart conditions like myocarditis.
Pfizer consistently denied any evidence of a connection or safety signal between its COVID-19 vaccine and myocarditis or pericarditis.
Indeed, on January 18, 2023, when asked whether its vaccine caused strokes or myocarditis, Pfizer chairman and CEO Alan Burla stated, quote, we've not seen a single signal, although we have distributed billions of doses, end quote.
A signal that he was referring to as a safety signal, which refers to a negative consequence.
However, as Pfizer knew, the United States government, the United States military, foreign governments, and others had found that Pfizer's COVID-19 vaccine caused myocarditis and pericarditis.
Number three, effectiveness regarding variants.
Pfizer also claimed that its COVID-19 vaccine protected against COVID-19 variants, even though data available at the time showed Pfizer's vaccine was effective less than half the time against variants.
Finally, transmission.
Pfizer urged Americans to get vaccinated in order to protect their loved ones, clearly indicating a claim that Pfizer's COVID-19 vaccination stopped transmission of COVID-19.
Pfizer later admitted that it had never even studied transmission of it after its recipients received the vaccine and whether they could say it stopped transmission.
After making these misleading statements, Pfizer also engaged in some censorship attempts.
Emails revealed that Pfizer officials coordinated with social media platforms to censor any speech critical of Pfizer's COVID-19 vaccine safety and effectiveness.
It should also be noted that Pfizer elected not to join the federal government's vaccine development program known as Operation Warp Speed and declined that development funding.
When asked about that, Pfizer's CEO, Albert Burla, said Pfizer did not participate in the program in order to, quote, liberate, end quote, Pfizer's scientists and to avoid government oversight of its vaccine development.
He also said, quote, they want reports.
I don't want to have any of that, end quote.
Referring to they, when he said they, he's referring to the federal government.
Pfizer's misleading statements contributed to success in marketing its vaccine in Kansas.
By February of 2024, Pfizer had delivered over 3.3 million dollars.
Pause it right here.
You can pause it up.
And by the way, there's a clip I just sent you on the Pfizer CEO saying a couple thoughts.
I don't think this was a response.
This is something that he did say at an event, but thoughts on this issue?
Well, I got mixed emotions because obviously for all the people that are the Pure Bloods, I know you're one of them.
Pat, it feels great knowing that I didn't give in.
I didn't.
I wasn't, you know, they tried to force me to do it to get into comedy clubs and stuff.
I feel good that I'm the Pure Blood, but I actually feel so bad for the people that I do know that are dealing with all this stuff that he's talking about.
The vaccine injured, Kelly's, you know, going through it.
You know that, right?
Kelly has all these problems and stuff like that for all the people.
But it's like, oh, yeah, 100%.
And it's like, it infuriates me that they're, by the way, I don't know if they're not going to be held liable because the literature and their thing says they're not going to get in trouble.
And you brought up Albert Burla, and it's always weird.
Anybody that has to do with any of this pushing COVID, anything, all these like Carl Schwab's pal, these people, they always have an accent.
Albert Burla, I sent Rob a video as well.
He admitted in a video that COVID was used as a test.
Think about this, a test while also saying that he believes that the days of Pfizer are ahead.
He says, I truly think that the best days of Pfizer are ahead of us because COVID was for me like a rehearsal.
Yeah, that's the video I have.
I sent you a different one, Rob.
The rehearsal one?
I sent you a separate one.
But anyway, remember.
Is this the one you're talking about, Rob?
Go back to the one I go back to the other video.
This is it.
Yeah.
Okay, yeah.
Just play this.
This is a different one.
Yeah.
I truly think the best days of Pfizer are ahead of us.
Because COVID was, for me, like a rehearsal.
Prova generale.
How you can mobilize an organization and do the impossible, possible, against a main disease.
We are after cancer and many other things in the years to come.
And by the way, I don't know if you guys remember this.
He was interviewed.
I forgot who it was, Pat, but they asked him, they're like, hey, did you, because remember, he said at the beginning the vaccine was 95.6% effective.
And then he was asked if he took the vaccine.
And he said something along the lines.
And Rob could have it, but I can say he goes, well, I'm 59 years old.
I'm in good health.
And this type doesn't need to take the vaccine.
But he was pushing it on everybody else.
The CEO Pfizer.
And then months later, they have a photo of him.
Pat, you know, they have the needle next to your arm, like all these guys.
Probably nothing in the needle.
But I think it's ridiculous.
And I'm just hoping when he says something like that, that rhetoric of now it's a practice run, they've been saying pandemic two is coming.
Bill Gates, Mr. Fauci, this guy right here, they're warning of something that's coming.
And if you guys are paying attention in Australia, bird flu is hitting them right now.
It just hit the seventh poultry farm in Melbourne.
It's affecting six farms, a duck farm, one million chickens.
5% of Australia's egg-laying flock is affected.
And now they're warning everybody of it jumping to human beings.
Okay?
I think it's ridiculous.
And the fact that there's no shame in this guy, but in their literature, they're not going to be held accountable.
Is that right, Tom?
Yeah, well, yes and no.
First of all, I applaud the Kansas AG here.
That was a very structured, clear case where he is allowing people in plain language to hear what they're saying.
And what they're saying is so clear.
He says, they did this, then they did this, then they did this, and this.
What usually happens in this, as it happened with cigarettes, as it happened with asbestos, as it happened with lead paint and opioid painkillers, what'll happen is enough states get through and these mega settlements is what's going to come down.
Because at the very, very end of it, I think there's a thing of there's not scientific freedom here.
So I think individual scientists and people can be criminally liable if you push past certain tests.
But pharmaceutical industry will never let that happen.
They will make a multi-billion dollar settlement.
So I think that's where this is going.
But I applaud the Kansas AG.
This is what Americans need to hear.
And if you haven't heard it, listen through it again, step by step.
Rob, this is the clip of the CEO.
Go ahead and play it.
59 years old, in good health.
I'm not working in the front line.
So my type is not recommended to get vaccinated.
So the CEO of the company that got a bunch of people that are not necessarily needed to take the vaccine, but he wanted them to take it and he didn't take it.
It's kind of hippocampus.
It's like working at Ford selling expeditions while in the parking lot for employees.
You have a suburban park there, you know, or you got a motorcycle park there.
You're like, yeah, I don't need a Ford car.
I drive other types of cars.
Adam.
Well, I remember hearing this guy's name, Albert Burla, during COVID.
Like, how many big pharma, how many CEOs' names do you know of any companies out there in the Fortune 500?
I mean, whether it's Warren Buffett or Tim Cook, like Elon Musk, then it stops.
But why do I know Albert Burla's name, the CEO of Pfizer?
Why do I know Stéphane Bonsel, who is the CEO of Moderna?
I know you're a big fan of the guys with the accents.
Joaquin Duato, who is the CEO of Johnson Johnson.
We all know Fauci's name, but I think that, you know, we talk about accountability.
There's enough blame to go around.
You know, I always say follow the money.
How much money did Big Pharma make?
Yeah, him alone.
I mean, tens of billions, 100 billion, whatever the number is.
Yeah.
It's believable.
They made so much money.
But here's what I'll say.
You know how the whole iron triangle, pick two of these three things.
Things could be done good.
They could be done fast or they could be done cheap, right?
They could be done with high quality, good.
They could be done quickly, fast, or they could be done cost-effectively cheap.
Those three.
You can only pick two.
You know, when COVID came down, we had no clue what was going on.
You know, the NBA shut down, League shut down.
Rudy Gobert's touching on the mic.
We had no clue what's going on.
People are getting toilet paper as if this is like the number one essential.
Operation Warp speed came down.
And what happened is, whether it's Trump, whether it's Biden, whether it's Fauci, whoever you want, there's enough blame to go around.
They did it quickly.
They did it cheaply, but they didn't necessarily do it with quality.
Pat, how long does it take to get accuracy in testing?
Sometimes it takes 10 years.
10 years, something like that.
He said it.
He was taking it.
They've taken it in less than a year.
I thought so.
The fastest one prior to that.
And Rob, you can look this up was mumps.
And it was, what, three and a half years?
Okay.
It's the fastest one that had ever been done on a national pandemic level, not pandemic, but a national bad problem, months.
Mumps, I think the fast, that was the fastest one today.
Measles, mumps, or bellow.
We've all gotten those vaccines when we're kids.
However, my point is this.
They did it quick, yes?
Obviously.
Did they do it cheap?
I mean, how much was it to get a vaccine?
I don't know.
Co-payment, 25 bucks cheap.
They were given out to free.
They were rewarding people to get vaccines.
It's 50 bucks.
Go get some McDonald's.
But it was not necessarily done with high quality or efficacy or effectiveness.
So when you do it fast and you do it cheap.
Yeah, but you're going to have some ramifications for low quality.
The challenge, you're right on the fact that they did it fast, cheap, all that stuff.
Great.
And that's why I didn't take it.
The number one reason I didn't take it is because you have nine months of testing or whatever it was to put it together.
That was my number one reason.
You know what's a number two reason I didn't take it?
It's because they try to force it down your throat.
Yeah, the mandates, right?
If they would have done it in a way that was do it, don't do it.
It's totally fine.
If they wouldn't have gone the route of forcing you, I wouldn't have taken it.
And now here's a different story.
What would the 18-year-old PBD have done?
What would the 20-year-old pat have done?
I'm in the army, let's just say, okay, and I'm oblivious.
I'm not well-read.
I haven't done my own research.
I haven't been around.
I haven't even started reading yet, right?
Hey, you got to take this vaccine or else you got to get out the army.
All right, guys, hey, 50 other guys, you're at the bar.
Oh, F it.
You know, let's just kind of take it.
You take it, right?
How many people had to take it because they didn't have another choice and they didn't want to lose their jobs?
Yep.
See, that's the problem with this and the fact that what is the 75-year rap that they put a 50-year or 75-year, the timeline they put that you can't sue them till 2075.
They went to the government and asked for the immunity clause.
That's exactly what they got.
There it is.
You just pull it up.
You got to get immunity when you got the jab, but you're going to get immunity.
So judge.
75 years later, sometimes to release vaccine, Steve?
75 years.
No, no, there is one that they ask for immunity.
Did they get immunity?
Because that's what's most important.
Did Pfizer get immunity for the vaccine?
That's the most important thing.
So the Moderna Pfizer biotech vaccine offer immunity against COVID-19 for up to six months to increase protection.
No, I'm talking about where lawsuit immunity.
Yeah, I'm talking about lawsuit immunity where nothing could happen to them.
Blanket immunity.
There it is.
Under the PrEP Act, people injured in a vaccine develop their response to the emergency must-bring claims under the Countermeasures Injury Compensation Program, CICP, provides blanket immunity to drug makers manufacturing the COVID-19 vaccine unless there's a showing of willful misconduct by the manufacturer.
Okay, folks, let me read this one more time, okay?
So countermeasures injury compensation program, CICP, provides blanket immunity.
What's the definition of blanket immunity?
Nothing can happen to drug makers manufacturing COVID-19 vaccines unless there is a showing of keyword willful misconduct by the manufacturers.
So now what do you have to prove as a lawyer?
What do you have to prove is what, based on that statement, Tom, that there was willful misconduct.
Correct.
You're going to have to prove that a scientist sat back there and said, you know what I'm going to do?
I'm going to, you know what?
We're going to rig this.
How do you prove that?
How do you prove that?
They're going to say, oh, no, no, no.
The scientists were acting in good faith trying to save humanity.
And that's what they're going to be saying.
But so they're protected.
So you mean to tell me you come out with a drug that you spend less than a year researching to put together nine months.
Then you want me to take it.
Then you want me to tell you that the U.S. government, you want to tell me that the U.S. government, you gave them blanket immunity and still trust them?
Yeah, I'm out.
I'm out.
I'm going to hurt immunity is what you're doing.
And I'll tell you why you have credibility here.
Just because I'm remembering all this stuff right now, because you would constantly tell the story about when you, you said, what would the PBD, 18-year-old PBD do?
Because you were in the army.
You told the story about when you went in and you enlisted and how many shots it was.
Anthrax shot.
They were doing.
Yeah, we had to take all these shots with air guns.
So it's not like you're anti-vax.
Taken more vaccines than probably anybody I know.
The only person here that's probably taking more vaccines than me is probably Vinny.
Yeah.
And the only reason it's probably the same is because when you go in the army or the military, there is a day you literally walk through Vinny.
Do you remember that when you're going through and one shot, And it's an air gun.
Have you seen these air gun shots?
No.
Yeah, it's an air gun.
Well, yeah, it's an air gun shot.
So it's fast.
How many do you think you got?
And you're probably 11.
Probably 10 or 11.
I mean, I had to get anti.
So I was about to go to Iraq.
So I was like, you know, I had to go.
Did you go to Iraq or no?
No, I was right about the job.
Thank God.
By the way, the anthrax shot in the army was a very big discussion, and a lot of people were freaking out.
I remember as an 18-year-old kid, guys getting out and going and trying to get leave to avoid it.
And there was a big dispute.
What's wrong with you?
Why are you so worried?
You're a part of the U.S. government.
You got to do it.
Take it for the country.
It was like a lot of things going on at the full state.
But I want to highlight that because, you know, people say a lot of crazy things right there.
One thing you are not is anti-vax.
You've been very open.
Your father was part of this.
One thing that I know that you stood for, and I've learned this, is the government control and the mandates.
You said, hey, listen, they rushed this in less than a year.
But number two, listen, my body, my choice.
Which party sort of owns that moniker?
We know on the left, my body, my choice.
So on the right, when they do it, how does that work?
I'll tell you one quick story.
Talked about the mandates.
You know, my other company?
I have a girl that works for me there.
She also works for Disney.
She would tell me this story.
She goes, you know, I never get sick.
I never get sick.
She would tell me that.
And she got the jab.
And since she got the jab, this girl is always sick.
I said, what happened?
You said you never get sick.
She goes, I don't know, but I never got the flu stuff.
I never got this.
I'm just letting you know this is anecdotal.
This is her story.
She gets sick here.
And, you know, ultimately, I mean, I'm going to make light of it.
You know, George Bush fooled me once.
And you can't get fooled again.
Yeah.
I think a lot of people got fooled one time and they're not going to get it.
Well, I wouldn't, I wouldn't give them that much credit because it's their choice.
Take a second.
Take a step back, Tom.
Think about what they did.
Think about this operation that they did.
Okay.
They created the problem.
Fauci, the lab, Wuhan.
They have this shit come out, right?
Oh my God.
They scared the shape of them.
They allegedly created the problem.
I think that they're not stupid.
They get it.
Okay.
Then all of a sudden, you're like, hey, listen, guys, scare them.
It's the end of the world.
CNN, put the death tracker.
Think about this mission.
Then you scare the shit out of my mind.
The media did do that.
Yeah, they did.
And then you go, hey, we have the cure.
And these billions of people were duped.
Now they're dying.
And guess what?
They're saying, what?
Read the contract.
I said, so it's create the problem, scare the shit out of body and give them the cure.
Is that term called when you create the boogeyman and then you're the solution to the boogeyman?
That's exactly guys.
Rob, how much did Pfizer's ad spending year over year?
Can you go to Statista?
I'm not going to.
Go to ad year over year if you could, how much money they spend.
It's interesting, Tom, when you look at this.
Because the number is going to surprise you, by the way.
And I go to stock price.
I go to.
Oh, no, no, but check this out.
Zoom in.
Look at Pfizer ad spending year over year.
Okay.
So their highest, what does that sound?
Their highest is 2010, 3.8.
Okay.
And then 2011, 3.6, and it goes down.
COVID happens 2020.
That's their lowest ad spend.
2021, 2 billion.
Then it goes to 2.8.
Then 2023 is 3.7.
So I process this in a couple different ways.
One, their biggest ad spend was the government was doing it for them.
Everybody was doing it.
You didn't need to get the money to get the ad spend, right?
Because it was free marketing.
Can you go to Moderna's ad spend, Rob?
I'm curious to know what Moderna's ad spend was year over year.
Just do the same exact thing and just type in Moderna.
Yeah.
And then who's the other company, by the way?
Is it Johnston Johnson?
Johnson and Johnson.
Well, their information is in public.
You don't have their ads.
Pfizer is public.
The other ones are not.
Interesting.
Go back and type in Johnston ⁇ Johnson's ad spend.
I'm actually curious now with Johnston ⁇ Johnson.
Johnson ⁇ Johnson ad dollars is what I typed, and I have it only till 2022. I don't have it till 2023. Same exact thing you're looking at, the drop-off teams. Yeah. So anyways, I mean, you know, this is, this is, I'm so, the main reason why we talk about this story is because the Attorney General of Kansas is going after Pfizer. Guess what? We support you. We're excited that you're doing it. A lot of people want to find out what happened. And I can tell you one thing. If Kansas makes any progress,
be ready for 10 other states to follow Kansas, if Kansas makes any progress. So imagine then Florida joins. Then imagine if, you know, a couple other states, I think Florida's already gone through some kind of a lawsuit, but there's going to be other states joining as well if Kansas makes any progress. Let's go to the next story here. Kevin O'Leary explains why restaurants are shuttering across America and why more will follow. He highlights the U.S. restaurant industry dire situation,
noting the U.S. restaurant industry finds itself on a menu with frequent headlines about bankruptcies, layoffs, and closures impacting beloved brands like Red Lobster, Applebee's, due to inflation and declining foot traffic post-pandemic. He adds, seemingly every day there's a headline announcing a bankruptcy layoff or store closure impacting one of the country's most beloved brands. O'Leary explains that rising food prices and the shift to remote work has significantly hurt restaurants,
especially in urban areas where expensive locations are no longer seeing enough foot traffic. He notes eateries and urban locations have been hit especially hard as they're expensive. Locations are no longer receiving the foot fall they need to meet rent. It's almost like the days where you used to go to a dealership to buy a car and nowadays you don't necessarily need to go to a dealership because you do what? You can order a car and it'll come to you. I think Uber Eats has probably played a big role in hurting these guys as well,
Tom. But what are your thoughts about the story here? What I thought was with this, the restaurant industry is suffering and he's right. And I'll paint the picture a little bit more broad. He's talking about like the Applebee's location, downtown Dallas, and you don't have as many people in the high rises. It doesn't take much. If your EBITDA is like 15%, let's say you make 15% profit and you suffer like a 20% drop in people coming to the restaurant,
you're probably pinched on the edge of that not being a profitable location in trouble. So yes, you know, remote work and the urban areas are causing some of it. But now put yourself in this position. How many problems can you manage at once and stay in business? One,
sir, some of our key locations in downtown areas, they're pinched because the foot traffic is down. So we're really in trouble with those. We may have to think about closing some of them because now they're consuming cash, not generating it. Oh, no. But sir, in general, our overall profitability is down because food prices. And by the way, TransUnion says that the food price inflation over the last four years actually is 30%. So that's TrendUnion, one of the big credit agencies doing deep research. It's 30%. Okay,
okay, food prices are up. And sir, by the way, in four states, we're going to have to pay $20 minimum wage. Ah, crap. How many problems can a restaurant manage at the same time as having locations that are not profitable because of foot traffic, getting pinched by $20 minimum wage, and then the food price? So Kevin Leary is right, and he's only hitting on one of the two things. And it's really unfortunate because a lot of people have favorite restaurants and things that they still patronize, but they're just, they're not survivable. But I'm going to tell you something, Rob,
Tom. Can you go a little lower on those? That was a very good breakdown. So go up to the top of the article, Rob, if you could. No, the one I just texted you, the one I just texted you, not this one. I texted you your article right now with numbers on Uber Eats, and these numbers will reveal a lot, especially a certain trend. I just texted it to you while Tom was speaking. So here's the look at. So Uber Eats revenue and usage statistics. This is from two months ago, April 10th. Okay, go lower. And just one by one by one, let's look at each chart. Keep going, keep. Okay,
let me look at that. What it says, the statistic at the top right there in the middle. It had, okay, Uber Eats generated $12.1 billion in 2023, 11-year increase. Uber Eats gross booking. Okay, so that's the numbers. Go lower, Rob. Check this out. Keep going, keep going, keep going, keep going. There it is. Okay, zoom out. All right. So that's revenues from Uber Eats from 2018 to now. Look at Q1 2020. Do you see what's Q1? When did COVID happen? Second week of March. The dip right there. So they got,
they felt it. But COVID launched Uber Eats business to the stratosphere. Go lower, go lower, go lower. Okay, so right there, right there, with the revenues for, go up a little bit, Rob. Go up, go up, go up,
go up. You just had it right there. So this is a revenue for them. This is two Uber Eats. 2017, 600 million. 18, 1.5 billion. 19, 1.9 billion. Look at the increase from 2018 to 2019. Not a big increase. It's only 20%. But look at the increase from 2019 to 2020,
nearly 3x. Okay. Then 2021, they double again. Then 2022, coming a couple of the restrictions are gone, 10.9, 12.1. But that business of going from 1.9, if you look at it, 1.9 to 12.1 billion, that's all money taken away from somebody. But go lower, because that's not the real number. Keep going. That's what Uber Eats made, revenue to them. But go down to how much revenue was the food? Go lower,
Rob. This is the actual bookings. Okay. Look at that. 3.1 billion to 7.9 billion to 14.5 billion to 30.2 billion to 51.6, 55.7,
$67.8 billion. That's money going away from somebody. So COVID, it's the weirdest way of visual I'll try to give you. So COVID did this. It took money from restaurants,
200,000 restaurants shut down, and that money lost from restaurants. Rob, how much money was lost in restaurants during COVID? Okay, total, I remember it was, you know, directly and indirectly,
50 million jobs were affected. That's not the right number. That is not the right number. It was a number in the billions. But just visualize this. This is the business of restaurants. This is how much money restaurants had. What COVID shutdown did is it took this money from here,
gave it to Uber Eats, drivers bringing food to them, and that money from here gave it to Pfizer, Johnson Johnson, Moderna. Okay. Meaning this revenue of $100 billion or whatever the number is came at the cost of destroying the restaurant business. So look at the National Association of Restaurant, National National Restaurant Association said restaurant and food service sales were $240 billion below. Wow. Below. 220,
2020 pre-pandemic forecast. More than 110,000 eating and drinking establishment closed last year. The association hopes that 2021, this is that time, right? Now, Rob, do me a favor, keep this article. Can you go and search how much money did, What do you call Pfizer?
How much money did Big Pharma make during COVID?
How much money did Big Pharma make during COVID?
If you can somehow 90 billion, okay, right there.
Big Pharma raked in $90 billion in profits, Vinny, with COVID vaccines.
That's it.
Just the COVID-19 vaccines.
Pfizer, BioNTech, Moderna, and Sinovac made an extraordinary U.S. dollars, $90 billion in profits.
So that $90 billion of profits is like a 401k rollover.
It rolled over from restaurants into Big Pharma.
So you know what it makes me think about, Tom?
Here's what it makes me think about.
Every industry has lobbyists.
Every industry has lobbyists, right?
This just tells you the lobbyists of Big Pharma are more powerful than the lobbyists of restaurant business.
Why didn't the restaurant business lobby harder to protect them?
What kind of access to resources do they have?
What is the biggest restaurant chain that can go out there and be vocal about it?
Why were they so quiet about it?
They got destroyed.
And if you think about restaurants, Tom, Tom, the fast food chains, fast food chains would be considered low income, middle income, right? If you're going to McDonald's, Burger King,
places like that. Who is the biggest restaurant chain that's not fast food? Cheesecake, Cheesecake, TGI Friday. Cheesecake is up. You might be right. I don't know. I'd probably take girls on a first date to Cheesecake. Grand Lux. Grand Lux and Cheesecake are in the same family. How do you Google that? How do you search that? Biggest non-fast food. But they're probably owned by one big company. I know that's what I want to know. I want to know who that is. Who is that? Like,
remember we found out that one thing in California with the one guy owned a different company. So who is Cheesecake? Who owns Applebee's. Who owns Applebee's? Who owns Chili's? So Applebee's, go ahead. What's Applebee's market cap? Do they have that kind of weight? Applebee's market cap. They're eating good in the neighborhood. I know that. No, that's not a lot. That's $570 million. That is insane. That's nothing,
guys. That's part of Dot's brand global. Find out that. Can you go type in Big Pharma lobbying spending, Big Pharma lobbying budget? Okay, whatever it is. Let's just see what numbers comes up. All right, let's see what this is. Can you zoom in, Rob? What does it say? Pharmaceuticals right there. It's what? 300 and so what number they're up? So check this out. 378. What Applebee's does in revenue, go back, what Applebee's does in revenue, okay,
which is what? $570 million, okay? Today, that's their market cap. They only spend $200 million less than what their revenue is just in lobbying. You're not going to beat them. So guess what,
folks? Here's what we learned. Big pharma's lobbyist, lobbyists are more powerful than the restaurant industry's lobbyists. And that's how they got destroyed. The greatest 401k rollover money rolled from 200,000 restaurant owners shutting down into the hands of big pharma. There you go. That's one way of looking at it. I'm not telling,
I'm just purely doing the math, and I'm looking at how this thing took place. But Uber eats capitalized. Uber took a big share from a lot of these restaurants on the backs of a lot of bad policies. I have some commentary here, but more from a macro perspective, not necessarily just the food industry, because I like how you kind of broke it down, whether it's Uber, whether it's these restaurants, whatever it is. But from a macro perspective, and then to kind of filter it down to a personal perspective, this is just Darwinism. This is just survival of the fittest. Can you adapt? What do I mean? You know,
what percentage of the companies that were in the Fortune 500 in 1950 or even in 1990 are still in the Fortune 500? We hear the stories that it's like the attrition rate is insane. 50% of the companies go out of Fortune 500. I think 10% of the companies that were the biggest companies in the world in 1980 are still in the Fortune 500. How many companies have gone out of business? Whether it's WAMU,
you tell that story, whether it's Lehman Brothers, whether it's Bear Stearns, you tell the story about Kmart, JCPenney, Bed Bath and Beyond, Radio Sheck, Blockbuster. These were the biggest companies in the world. We work, you know, two years ago, what was it? Silicon Valley Bank and Signature Bank. If you can't adapt and change with the times and you make poor decisions and you go on offense and you don't play defense, i.e., paying for lobbying, you could potentially go out of business. And I'll bring it to what PBD always says: outwork, out-improve,
out-strategize. And then what's the last thing, PBD? Outlast. Outlast. If you don't do all those four things, you're not going to outlast the market. I'm telling you, very good point. Go ahead, Tom. I don't disagree with your concept, but I think in this case, it wasn't survival of the fitness. There is a meteor that hit Earth and killed all the dinosaurs, depending on which scientist you want to believe. A meteor hit the industry and killed these restaurants. And is what happened? COVID happened. They were forced to close. And all of a sudden,
they're only making food delivered by Uber Eats and they don't get beverage. They don't get beverage. They don't get a bar tab. They don't get all those other things. And all those other people that worked at the restaurant that were delivering the food, the only people that were working was the three chefs in the back making stuff that people were picking up with Uber Eats. So this was a meteor called COVID that hit the restaurant industry. But words talk numbers scream. And Pat, you just broke down,
you broke down all the numbers of where all the numbers flowed after the meteor hit. By the way, by the way, I'm going to move on because we got the next story I want to get into. Here's what I'll wrap up with this. I hope the folks in the restaurant business pay very close attention. When I was first coming up and I'm like,
you know, I don't want to worry about politics because politics is a dirty business. That line, right? Politics is a dirty business. And guess what, folks? If you pay taxes, taxes is a form of politics. So you must pay attention to politics. And here's the other thing I learned as well. A quote back in the days,
Rob, can you verify who this is? It's either Plato or Socrates. Those who don't study politics will be governed by fools who do. Wow. Let me say one more time. Those who don't study politics will be governed by fools who do. To those of you in the restaurant business,
watch the way you vote. One political party locked your ass down and you went out of business. Just remember that. You can sit there and tell me I'm a John F. Kennedy liberal, whatever you want to say. This is a very different climate today with shutting things down where other states left it open. Bob Iger was helping out Newsome in California with Disney. And then when Newsome said, no, we're going to shut it down,
Bob Iger got off the board and said, I'm not helping you out. He had two parks. One park was where? California? Shut down. Lost a bunch of jobs. The other place was Florida, ran by a guy named DeSantis that they ended up getting to the biggest fight. And Disney actually played games with DeSantis, calling it the gable and all these weird things that you guys started doing. Guess what? Florida proved policies were better for restaurant, fast food,
parks in California. Absolutely was. The next story. More retirees considering to work as high inflation squeezes. A motley full survey shows 44% of retired Americans are considering returning to work due to chronic inflation and inadequate Social Security benefits,
which despite a 3.2% cost of living adjustment in 2024, have not kept pace with rising costs. The average monthly Social Security payment of 1907 and 2024 is significantly less than the 4818 monthly expense reported by Americans ages 65 and older. Let me say this one more time. Rob,
can you highlight that part and let's show it on the screen? The average monthly Social Security payment in 2024 is 1907. Okay. And that is a fraction of what the average American age 65 and older reported spending in 2022, which is 4,818. Okay. So with 27% relying on their sole income, inflation and high interest rates have drastically increased costs for necessities,
causing severe financial pressure. Financial struggle has led 61% of respondents to report daily hardships, and many are considering retirement plans. About 25% of non-retired investors expect to return to work due to insufficient savings, while 19% doubt they will ever save enough to retire with another 19% planning to retire later than expected due to inflation, Tom. Well, words talk number screen. We got a bunch of numbers here. And it was very interesting,
side by side with this, side by side, Motley Fool's doing this. Harris had a poll and the Harris poll has been tracking. And boy, it's so surprising that mainstream media, Vinny, doesn't ever talk about this particular Harris tracking poll. In Q4, people said 79% of people said the number one issue,
economic issue for them was inflation. After saying that, after 60% of them saying that economy was number one, and they said, what issue in the economy? 79% said inflation. In Q1, that was Q4 of last year. Q1, 82% it's inflation. In middle of Q2, May 10th, just passed by, 84% said it was inflation. And by the way,
75% of people over 50 in a Harris poll done at the same time the trans union poll said inflation is continuing to increase. Meanwhile, the federal government is saying, inflation's under control. No, people are saying inflation, It's affordability.
And what's happening is these poor retirees, and the numbers we just saw, are saying, I can't do it.
I got to go back.
I want to be a Walmart greeter or I got to do something because I've got a gap and it's the affordability crisis.
And I previously mentioned TransUnion's food inflation survey, done at the end of Q1, said it was a 30% cumulative increase since the end of Q4 2020.
There you have it.
There's the numbers.
The affordability crisis in America is worse than ever.
And now the people who can least afford it are thinking about, man, I got to go back to work, I got to get a side hustle, Grandma has to get a side hustle.
Where are we?
Adam?
Well, I love Tom's commentary here. I'll flip it. Tom always says the following. You know, there's the upstream problems and the downstream problems, right? The downstream problem, or this would probably be the upstream problem, is a 70-year-old who has to go back to work. Sucks. Nobody wants to do that. But the reason that they're doing that is the downstream problem is they just never paid attention to saving enough money and investing. And that's the biggest problem. So what's the message that you guys can take if you're 30,
40 years old, whatever? It's nobody cares about your problems 30 years from now. When it's time for you to retire, you know, what's the average age of our listeners? 30, 40, whatever? I'd say 40. Okay. Well, respect to you guys. From a fellow 40-year-old, Wink Wink. 30 years from now, when you go to retire and you're like, well, inflation in 2024, no one's going to care in 2054. They're going to say, what did you do over the last 40,
50 years of your life to get out of debt, stop being paychecked at paycheck, start saving and investing? Because I know one thing for sure. You cannot save your way to becoming a millionaire. You have to figure out a way to become an investor. And you're going to need a million, $2 million when you retire at 70 years old, whatever it is, so you don't end up on the government plan. So you guys at home right now, flip a coin, heads and tails. Heads, you're going to have money in retirement. Tails,
you're not going to have money in retirement. Because the reality is this, 50% of you are straight up going to be on the government plan. And the other 50% are like, oh, shit, I don't want to have to rely on Social Security. And I don't have a pension and I haven't saved enough money. I should probably start that 401k thing that they talk about. That Roth IRA thing. I should probably stop living for today and plan for tomorrow. Because if you're 30,
you're going to be 40. If you're 40, you're going to be 60. And the reality is if you don't save that money, you're going to end up one of these old people that in 30 years has to go work. So a couple things. One, you know, we can talk what you should have done, which we have to do that because we have to learn from our parents' mistakes and what they did right, what they didn't do right. This Sunday at church, this pastor gave a message, which I thought was absolutely powerful. How did they want? Yeah,
yeah. I thought it was powerful. And Rob, I'm going to give you the timeline for you to go to to show this clip. It was unbelievable. Okay. However, so one of the messages that you said that I agree with is the fact that this is what happens when you don't pay attention to money, period. You're going to go through this. Okay. And you're paying a price for it today that you weren't taking finances seriously. You were being sloppy, not working on another job. You were coming home,
making sure you didn't miss a single Miami Heat game or didn't miss a single Laker game because you're a true Laker fan or a Dodger fan or I'm a Chicago White Sox. I want to come home and I want to watch every single game. Yeah. Chicago White Sox or the Lakers or the Miami Heat. These guys barely pay retirement plan to their athletes. They used to play for them. Let alone you. They're not going to be paying your bills. Okay. It's kind of like goes back to that one movie,
Bronx Tale, where, you know, the guy's got a Mickey Mantle card and says, does Mickey Mano pay your bills? Mickey Mano pay your bills? Mickey Mano. No. Robert De Niro. Number two is the following. And by the way, that reminds me of a concert I went to with Ciamac years ago when I had lost my voice. I couldn't speak for six months. I did a surgery. CiaMak took me to a concert in Newport Beach or somewhere like that,
Irvine. And it was by a man named, I believe it was Daryush. And Daryush was one of the best singers. I can listen to his music all freaking day long. I love Dariush. But Dariush doesn't sing happy songs. Dariush sings a sad song. We all know Dariush. Come on. You know how everyone's a big fan of Darius. Come on,
Pat. Stop it, Pat. No, I got to explain who Darius is, DVD. We all funny. He's been in his concert. By the way, him and Michael Jackson. And one of the things Darius said, by the way, just so you know, he had some issues back in the days, drugs, stuff like that. He opened up. He is beloved. People love this guy, right? And he gets up and he says, I want to apologize to all of you. He wanted to give two advice to everybody. He says, I want to apologize to all of you. He says,
I want to apologize for not being invited to your weddings. And they're like, what are you talking about? He says, because I never sang songs happy enough to be invited to your wedding. Why would you invite somebody like me to your weddings that makes sense? Your divorce party, I will be there. Darius, you can count on him, baby. But you know what he said right afterwards? He said, I want to say something to the young people in the room here, to those in their 20s, the young wolves, the 30s. He says,
make sure the young wolf in you takes care of the old wolf one day you'll be. Oh, yeah. Because the old wolf will not have the same fire that you have today. But very soon, you're going to be my age. Let me tell you, it leveled me to come back and give that message to other people. So, now, we all have parents that maybe financially didn't make the right decision or something. We cannot go to them and say,
how come you don't work for it? We're not in that business. You just want them to live a happier life and realize a part of that responsibility now lies on you. Because the government can't do it all by themselves. You have to do it partially. Government's going to do it partially. The reason why government gets 1907 and not the whole 4881 is because it's not the government's job. I'm not supposed to take care of your parents. I'm going to do my part with my parents,
right? But taxpayers are willing to pay 1907 portion to Social Security. And the last thing I'll say, which is kind of weird, is the following way. Tom, a part of me likes people working in their 70s. And you can call me out and be upset and say whatever you want. My dad has had 13 heart attacks,
three stents in his heart, bypass surgery, God knows how many angiograms, angioplastics, you name it. He takes 50 pills a day. I'm being sarcastic, but it's a lot of pills he takes every day. He's 82 years old. You know why he's 82 years old? Because he just retired two years ago and he's finally moving into my house. Till two years ago,
he was working. Not because he needed to. He could have retired a long time ago. He kept working because he wanted to stay active. So part of me, if you're listening to this, and let's just say you're 72 years old or 68 years old and you're like, I don't need the money, dude,
go find a job two days a week doing something. Find a way to contribute. There's a part of it that for me is not feeling like it's actually bad for you. You're meeting other younger people. There's something that happens. I'm around Brooklyn. Brooklyn makes me younger. Okay. And I'm 45. I'm not old. But even Brooklyn makes me younger and she's only two or three years old,
right? Now, imagine if we're 75 and we're only hanging around 75 year olds. Dude, you got to go around 30 year olds and 20 year olds and 40 year olds and let them kind of fire you up a little bit. But anyways. Can I give a quick little feedback? Number one, I love your dad and the fact that he's still putting things together, knitting. He's staying active. He's chasing Brooklyn around. Love him. But you're absolutely right. Like my mom is 74 years old. She's about to be 74. I said, Mom, when are you going to retire? She's like,
why would I retire? I love working. She works at a nursing, a nurse. She works as a nurse. She works. She loves interacting with people. She said, What am I going to do all day? I don't golf. I don't do any of this. So there's nothing wrong with working when you actually enjoy what you do. The flip side of it, I remember, you know, you know, me and my Ubers, one time I get in an Uber, and it was the oldest Uber driver I've ever been in his car. This guy must have been 80 years old. And he usually Uber drivers will be very subtly like, hey, thank you for a tip. This guy, as the ride started, hey,
don't forget to tip the driver. He had a sign. Remember to tip the driver. He's like, hey, remember at the end, tip your driver. I go, okay, why? You know, like, you haven't even driven me right. And he goes, this is essentially what you said with the young wolf and old wolf. He goes, let me tell you a little something. And he was talking. He goes,
I used to be the biggest fashion designer. I used to go to Italy and travel. And I'm from New York. And I got to tell you honestly, I didn't save any of my money. So now I have to drive Uber. So he's not blaming it on the information. He's saying, basically, I lived for today, not for tomorrow. He's 80 years old, sharp, like in a suit. And he goes, Yeah, I don't want to be driving Uber. So I do. I gave him a $20 tip on a $20 ride,
but I felt this guy's paying. A lot of old people are going to feel. And a lot of people are there, but I want to show you this. So this Sunday, this pastor, Ruben Ramsaron, I've never heard him speak. And he gave this one message. I'm sitting there with the kids. And I think every father needs to hear this message. Every father. Go ahead and play this clip. Your ceiling as a dad. No,
no, back up, back up, back up, positive, positive, positive, positive. I've been thinking and ruminating about that's it right there. Go ahead. About this idea or this concept. And the idea is this: is that your ceiling as a dad will one day become the very floor for your kids. Your ceiling as a dad will one day become the floor that your kids stand on. What does that mean? All of the things that you accomplish,
all of the things that you become really good at, all of the things that you still struggle with will be the very foundation that your kids stand on. So, of course, we're going to give good things to our kids one day, but they will also inherit some of our bad habits. They'll also inherit some of our bad thinking. Because I remember this. Brother, you know, he prayed for me once. There was a part of the mass where if anybody needs prayers,
come up there and he put his hand on my shoulder and he prayed for me. This guy's awesome. Ceiling floor. Ceiling floor. Father's listening. The example we set today, one day is going to be their standard floor to live on. Good, bad, ugly, lazy, passive, the way we treat our spouse, our kids, people we work with, friends,
everybody. They're going to watch to see how you and I are. And one day that'll be the standard they'll raise up. I'm a byproduct of this. My dad set the ceiling the most annoying thing my dad ever did with me. That was the best thing he ever did with me. You ready for this? I've never met a man in my life who's done this. Never. When I tell you,
I've never met a man. Vinny, I've never met a man in my life that's done this. Last year, first week of this year, we were having this meeting and I'm telling everybody about the values and principles, our BHAs, everything at the Valettainment Group. And if you remember,
one of the 12 principles we talked about was the what? Do your best to be part of the one club. And what's the one club? You only need to be told once. And you do it. The job gets done. We have a lot of sevens. We have a lot of fives. We have a lot of threes. We have a lot of twos. Every great organization is ran by a very,
very, very, very small percentage of people that are part of the one club. What is the most annoying thing about my dad? My dad's never said anything that he was going to do that I had to remind him of. Gee, what I just said? Never. Vinny,
marakatu chagalavia. Well, not one time. Not one time. He has never, ever said he's going to do something for me that I had to remind him of. How the hell do you do that? First of all,
that's the ceiling. He went and he became my floor. So guess what was our culture in the insurance company we ran? If we made a promise, we're doing it. If we said we're doing this, we're doing it. Now, if we said we made a promise and a guy does criminal activity, you changed it. We didn't do that. Then we have to change it. If you did fraudulent stuff or compliance stuff and you're kind of making, that's a different story. But that was what? That was the example he set. And then here you are, a kid,
that you're him. And he says, you said you're going to do it. How come you haven't done it yet? It was the most annoying thing he would tell you. How many times do I have to ask you? That's a common phrase. Because he was teaching to be part of the one club, right? I can tell you 50 different things, but I saw this message on Sunday. And all I thought about the guy sitting next to me with the grandkids and everybody is my dad. The fact that he set that example for others. Fathers, you are so important. I can't even describe it to you. The other day, Tom and I were having lunch with a couple of people, not even the other day,
yesterday we're having lunch at the house. I think yesterday or two days ago. I think two days ago, we're having lunch at the house. It's me, you, R.J., and another fella. And I said, you know, Tom's one of the best dads I've met in my life as well. We can be anywhere in the world. He's calling his girls to pray with him before he goes to sleep. He calls and has a conversation with them individually. Vinny,
he's never missed the mark. It doesn't matter where we are. He's never forgot to make that call, ever. I have. He never. Tom has never forgotten to make the call to call his girls. Say, how was your day? What happens? Let's pray. Go to sleep. That is an example he's setting for his girls to follow that maybe one day when you're looking for a man, I would like you to aspire to want to have a man that treats your kids the way I'm treating you one day. His girls,
for the rest of their lives, are going to look for a man that has a standard like that, right? Tom, what are your thoughts about this whole message the pastor gave about ceiling and floor? He's absolutely correct. And it doesn't matter where you are. You can reset tomorrow's floor with today's ceiling. You can reset it. There are tremendous stories out there and biographies that I've read of historical people,
but I think the current ones are really inspiring to me. Warcunn's story is inspiring to me, you know, about his grandmother and the things that were there and how he rebuilt what was going to be the ceiling of his life from a really tough floor from where he came from. And this is true,
but it takes two things, intention and discipline. You have to be intentional about what you do every day. It doesn't just happen. It's not luck. You have to be very intentional what you're going to do. And you have to have the discipline to keep doing it. It's the same things that go with diet,
that goes with exercise, it goes with personal habits. You know, you got to be intentional about it and then have discipline about it. But this guy's right. And I encourage everybody to, can we put the link in the comments and people can go watch the whole message from this guy? I think it is one of the most apropos Father's Day messages that you could hit. But I would say this way,
it's a great father's vision message for every day. Yeah, you know, sometimes when you give this message, people will say, well, you know, that's why I'm who I am. I didn't have a good example. Okay. And that's also the flip side of the coin. That's the excuse to keep standing on a broken foot. That's right. You're like,
well, you know, that's why, you know, I'm doing because, you know, I didn't have the father you had or I didn't have the mother you had. There's a lot of other things I can say about our family that I'm not going to get into. You know, I'm giving you the good of my dad is what I'm talking because I want to applaud this man because he's changed my life. We all have different issues, but I think at the end of the day, it also eventually at one point, if you're saying, well, I didn't have that, well, you become that. You become the new standard to set for many, many years to come. Years ago,
I read a book called 10 Generational Curses. And I don't even like that phrase, generational curses. But I read this book and it talked about how, you know, adultery gets taught. Okay. What was the other ones? Gambling taught. Then it was alcohol. Being an alcoholic is a curse that passes down. Everybody's an alcoholic. And,
you know, small thinking, financial issues. That's the other one right there. That was the bottom right one. The 10 curses that block the blessing. That was the book I read a long time ago. When did that be? 06. So 20 years ago, 18 years ago, that book came out. So it was interesting to see it. But for a lot of people who go through this challenge, you don't also want to be the person. Like, I grew up from a very poor family. And it's like, so, well, you know, I grew up poor. That's why I'm poor. No,
you need to also make a decision for yourself to want to be a leader one day if you consider yourself to be a leader. All right. So anyways, I saw that this Sunday. I've never short anything from our church service on Sunday. I was in school. So that was your church. Yeah, we go to that church. That's one of the churches. Wow. So anyways, okay, so let's go to let's go to the next thing here, story-wise. Gavin Newsom, what a transition. Wants to take smartphones out of schools. Okay. Gavin,
you're getting a shout out today, buddy. So don't say we only say bad things about you. The other day, I'm in California. Okay. I said, man, listen, I love your stuff, man. But why do you come after us so hard? It's like, it's constant. You know, it's like,
we don't get enough of it, man. It's always California, California, California. I said, listen, bad policies have consequences, and that's what your governor is doing. However, today, we're going to read this article from Politico. Governor Gavin Newsom plans to restrict smartphones used during the school day,
citing social media's harm to children's mental health. Newsom stated when children and teens are in school, they should be focused on their studies, not their screens. Newsom's initiative aligns with recent warnings from Surgeon General Vivek Murthy,
who advocated for warning labels on social media due to its severe impact on youth. Newsom, a supporter of Biden's re-election, aims to work with California's Democratic legislature to implement these restrictions by August. The move follows ongoing concerns and previous legislation aimed at protecting children from social media dangers. Newsom's wife,
Jennifer, great name, Siebel Newsome, highlighted the failure of the tech firms to address these issues and shared personal experiences of their child being bullied online. Tom. Yeah, well, this is Gavin Newsom. It's Groundhog Day. So Gavin Newsom is going to pop up and say something that sounds moderate, right? There's a lull in the news cycle. Tom was relaxed. All of a sudden, he said, Newsom, he flips. Tomorrow,
Tom turned red. He kicked me. Shoot. You give me say Newsome or give me a double black coffee. So it's one of the two. And here I go. Okay. So this is what's going on. Newsome, every so many months,
he's being politically very strategic here, popping up with things that sound like they're kind of moderate here. So, you know, banning the phones in schools. It's harmless. It's harmless. It doesn't cost him any political capital. And then what, six months ago, he came up and there was a parental rights thing. And he was like, I'm going against the state assembly because parental rights are important. Remember when he did that? And it didn't mean anything to it. And two weeks ago, he supported the, you know,
don't tell the parents transgender policy in the schools two weeks ago. So six months ago, he pops out Grand Holiday sounds kind of moderate. And that's what's going on here. This is a MAMBY-PAMBY little thing that he's popping up,
trying to get parents to lean from the middle over toward him a little bit. And look at the perfect timing, Tom. You nailed it. Perfect timing. All this stuff is coming up out of Joe Biden. He's falling apart. He's restarting every two seconds. And then all of a sudden. He's leading for the Supreme Court on Trump. Exactly. It's kind of a quiet news week. Yeah,
he's a snake in the grass, like you nailed it, just coming up now. Because you know what? That's those little things. Once he announces, or if he announces, he's going to be like, well, look at the stuff, the good stuff that I was doing. Guys, the phones in the schools, which you're right, doesn't spend it. How much money does that cost? Nothing. It's just a rule. He's a snake in the grass. And if he was the Antichrist at the end, I wouldn't be surprised. He's the most skilled politician that I've ever seen. I respect, I really respect, you know,
you can respect an enemy for their capabilities. You can respect it. I respect Newsom, and he is so clever. Tom, I'm not even joking. If he announces and he becomes a president, I wouldn't be surprised if he's on the podium and he just rips off his mask and he is the devil. And I'd be like, oh, yeah, that's, we knew that. Adam, where you at? Talk about the least surprising mask ever. Guys,
can we just take a second and give a little credit when someone makes a smart decision. Adam, come on. Vinny, I know that the second you hear his name, you're like, oh, hey, Biden's jumping out of the race and Gavin's declaring. Dude, Adam, never done that. Adam, you're getting more excited than ever back. For those of you listening at home, you're witnessing a relapse. Go ahead, Adam. This is good. Comedy hour. Tom Hillsworth, get your tickets out for free. Go ahead. Starring you, dude. Starring you. These guys,
you guys lived in California. I know when we left. And we left. Holy princess and the relapse. Here we go. Episode six. Make your point, Adam. Say it. Spit it out. I mean, guys, you know what? I'm going to interrupt you guys every single time you talk now. Let's go. The rest of the episode, promise. I know that you guys get literally do that. This is Tom's comedy. I know that you guys get emotionally triggered when you hear Gavin Newsom's name. Yeah. And rightfully so sometimes. But like without speculating,
this is because he's running for president. How about the fact that he's actually the governor? He's going to be the governor of California until what, 2027? After the recall, the re-election in 2021. This is something that Ron DeSantis has basically been advocating, keeping the kids out of school,
keeping the phones out of school, banning social media from these phones. By the way, this is a bold move. Silicon Valley, all the big tech companies are in his state. You think they're happy about this? No. But he's actually taking care of what needs to be done to take care of the kids. So let's give a little credit where credit's due. I know that there's some Democrat people in the audience that are like,
yeah, okay, give the guy a little credit. But here's the deal. He's focusing on studies over kids being on their screens. He's focusing on kids actually being able to socialize rather than being on social media. And he's enabling kids to actually live in real life than on their phones. So let's give the guy a little bit of credit for a good quality. Let me give my response and we'll go to the next story. I don't want to put a lot of time on this because California fires Tom up and Tom's getting angry right now. When Tom starts saying princess,
he's pissed off. All right. So here's what I'll say. Okay, let me read a part of what he said. So he's doing this for what? What's the part of it that he's doing? He said he's doing this because children's mental health. When children and teens are in school,
they should be focused on their studies, not their screens. Okay, let me change one word. Ready? When children and teens, Governor Gavin Newsom, are in school, they should be focused on their studies, not their genders. Yes,
that's true. How about that? Okay. So now, if you're taking smartphones out of schools, fantastic. Let's take pride flags out of schools. Why should they be worried about their sexes and genders and any of that stuff? Why should you confuse them? If you're so worried about social media's consequences on kids with smartphones,
how worried are you about the agenda of LGBTQ on kids at a young age? Not adults. I didn't say adults. It is what it is. Quite frankly, it's a little too much anyway. It's 143 days to recognize, you know, LGBTQ. We have a gay uncle day in America. What is a gay uncle day? We have one Father's Day. You mean to tell me fathers get one day and they're just as important as a gay uncle? You want me to celebrate my gay uncle? That's what you want me to do? And then you got the Mother's Day gets one day,
but a gay uncle gets a day. So the equivalent of a gay uncle is the same as a mother and a father. Is that what we're doing right now in California or other places? So all I'm saying to you is this. Let's add one other thing to this, Newsome. Great policy. I'm with you. When children and teens are in school,
they should be focused on their studies, not their screens. When children and teens are in school, they should be focused on their studies, not their genders. How about you do that next? I dare you, brother, to do that next to keep that out of schools. You do that. I will be singing praises to you on the podcast right here. I will applaud you. I'll say,
great job. He did a phenomenal thing for California. I'll even come to California and say there's some progress being made in this specific area if that happens. Now, you know what are the chances of you doing that? Do you know what are the chances? Do you know what are the chances of that doing that? It's the same chances as Vinny one day coming out of the closet saying he's gay, because Vinny's straight, and it ain't happening.
What?
Vinny is?
Yeah, he is.
He actually is.
I thought so.
The other, you guys posted a clip about when I was in Hollywood.
If I would have stayed there any longer, I'd say he would have been gay.
Dude, I was going to celebrate gay uncle.
That's what I'm saying.
I was going to say Jesus.
There you go.
Listen, I gave him credit.
I'm just trying to challenge him a little bit more and see what he does with that.
Put that phone down while we're trying to indoctrinate you.
Yeah, let's go to the next one here.
Let's go to the next one here.
This luxury real estate world rocked by rape allegations against Star Broker.
Now, this story isn't written by Daily Mail.
This story is not written by some Hocus Pocus website.
This is written by Wall Street Journal.
Five women have accused Oren Alexander.
co-founder of luxury real estate brokerage official of sexual assault or rape with incidents spanning from high school 20 years ago to as recently as 2020. One woman, an aspiring model, described an incident in 2017 where Alexander allegedly ripped her dress off and threw her on the bed, pinning her down and raped her despite her begging him to stop. Oren has taken a leave from his firm,
calling the allegations baseless civil accusations and stating he is confident that the truth will be brought to light. Two lawsuits filed in March accuse Oren and his twin brother, Alan, of sexual assaults dating back to 2010 and 2012. In one case, Rebecca Mandel alleges that after being invited to a non-existent party, Oren and Alan assaulted her with Alan holding her down while Oren penetrated her. Another woman,
Kate Whiteman, alleges she was raped by the twins at Sir Ivan Castle's in the Hamptons after being forced into a black SUV and driven to the location. Adam, These guys are from Miami.
What do you know about this story?
Because I'm going to give my version of it away in a minute, my story.
But what do you know about these guys?
So, full disclosure: I know these guys.
I know their whole family.
They grew up in Miami.
I'm not friends with them.
I don't have their phone numbers.
Have I been in the same room as them tons of times?
This is the biggest story in real estate by far.
And this story has sort of been trickling out over the last week or so, right, PBD?
First, I saw it in THE REAL DEAL, which is a specific real estate publication.
I saw it on Instagram.
And then, all of a sudden, people, all right, bro, like, what's going on? Like, we run in similar circles, you know, started messaging me. Oh, shit, oh, this is not good. Three women, five women. Oh, man. Then it went to 10 women. Then it went to the latest count, 30 different allegations. And I'm using that word specifically,
allegations, because we don't know what is true and what is not true. And if we learned from other friends that we've spoken to, interview people that we've spoken to, we don't ever know what's true and what's not true in these allegations. But then it was in the New York Post. And then as of yesterday,
I believe it was in the New York Times and the Wall Street Journal. And then I was like, uh-oh, this is now officially a massive story. So here's what I can tell you: there's a few different things here. Most of the stories that you're hearing go back to 2010 to 2012. And a lot of them are in New York,
specifically in the Hamptons. Why New York and the Hamptons, even though they're from Miami? They left Miami. They started working in real estate in New York. By the way, in the past 10 years, I think five out of the last 10 years, the number one real estate team in the country. They were part of Douglas Elleman. I think they've sold $7 billion of real estate over the last 10 years, I said. Correct me on these numbers. You know, real estate,
you talk about commissions. We have that conversation. If you take 1%, which is a low commission for $7 billion, that is $70 million in commissions. Imagine if they got 2%, whatever. They've made tens of millions of dollars in commissions, no doubt. New York, specifically New York, Kathy Hochul, the governor, in 2022, she came out with something called the Adult Survivors Act, where basically it has to do with the Statue of Limitations because this, again, this is 10,
15 plus years ago that they allegedly did some of these stories. So here's what I can tell you for sure. They have marketed themselves as the most high-end, luxury, top realtors, high-end in the country. By the way, they have the record for the most expensive home ever sold. They sold it to Ken Griffin, the hedge fund guy we've talked about in New York,
I think for $225 million. Check those numbers. Ken Griffin in New York. This is insane. But then during COVID, there it was, 238. There it was right there. It was the most expensive home ever sold in the United States. Four-floor mega condo. So to talk about these guys are with the who's who and the elite and the billionaires would be entirely accurate. So this isn't some just,
you know, random allegation. This is even like a Tate situation that's in Romania. This is the high-end people in New York, the Hamptons, and Aspen. So what's my point? On one end, is this a hit job? Is this a money grab? You know, after a handful of names, okay, maybe 30? How serious is all this? And then it makes me think of, you know, choose your enemies wisely. Who are their enemies? Look,
there's a lot of people out there in the real estate world that want to see these guys go down. It's a doggy dog world. It's a competitive world out there. There's a lot of happy, jealous, spiteful, competitive realtors out there that are saying, all right, my turn now. Because one thing for sure, depending on what these allegations turn out to be, who's ever going to work with these guys again? They're now fighting for their lives. Forget about their career. Forget about their reputation, like their lives. Last point. I've never been to the Hamptons. I've actually never spent time in the Hamptons,
despite going to New York a ton of times. There's this guy called Sir Ivan. Remember that name? He's known as the Hugh Hefner of the Hamptons. There it is right there. Now, he would throw these wild, wild sex parties and orgies and romps and be very open about it. There's the Hamptons Castle. You've heard about it, Tom? Have you ever been? No, I've never been, but I've heard about Sir Sir Ivan's Castle. So he's a member. Apparently,
the guy had Tom. You've been to the castle. Tom, you saw how he got happy? He was like, all the head of gold keys. It's like this Game of Thrones-esque Playboy mansion in the Hamptons. And allegedly, the boys had their own room here. So when you talk about partying, we talk about sex, drugs, rock and roll. This is what's going down in the Hamptons. So this guy, Ivan, you know, retroactively has now come out and said,
the Alexander brothers are no longer invited to the parties. Yeah, no shit, guy. Just cover your own ass. What I'll say is this. Let the facts play out. Let's see what happens here. These are serious allegations. And the number one guys in real estate are really in some hot water here. And we'll see what happens. Go ahead,
PBD. This is just the latest chapter of People in Power with Influence Behaving Terribly Badly. And now it all shows up that through the 80s and 90s and the aughts, you know, it was drug sex and rock and roll and there was very little consequence. And yeah, you know, Governor Hochul passes this bill that caused some people to run to the microphone with salacious fake stories, claiming suits, looking for money, chasing money. And other people that said, wow, you know, I'm going to come forward here because I was injured. I was injured by all this. Les Moonveaves,
All those people came forward.
You look at Harvey Weinstein.
You know, he wasn't found innocent.
There was a they have to retry the case.
There's plenty of evidence there and still guilty in L.A.
But this is people of power behaving badly.
And now it's coming home to roost.
Yeah.
I mean, listen, you get one rape allegation.
You know, you take it seriously.
The state and whoever's my audio is super low right now, for whatever reason, just lowered in the last 10 minutes.
You have to take it seriously if it's one.
But at the same time, you know, you can jump to conclusion and then you realize this one person says rape is not what you think it is.
It's not physical.
It's it's a fantasy.
That sounds good.
And E. Jean Carroll or whatever her name is.
right? Something like that. Then you get two rape allegations. All right, man. Come on, man. Somebody comes and tells me, Vinny, you know, Vinny hit me, one of your exes, okay, and you've had 10 exes, let's just say, okay? And I'm like, listen, stop it. Then second ex and third ex and fourth ex. If all of a sudden seven exes tell me you're you're hitting them, Vinny,
you're probably hitting them. Okay. There's some kind of credibility there. If you had 10 businesses you start, If half of them filed bankruptcy, you know, there's a problem there. You got 30 allegations and people coming out. We didn't say anything. I read the story when it was one. We kind of read it when it was five. When it was 30,
we're like, listen, this is out of control. Three years ago, this was three and a half years, three years, three years ago. Tom, I think you even remember this. I was looking at this house. Rob, if you can pull up the one I sent you. This is a house I was looking at in Boca. Adam, did I even take you there or no? I didn't go with you, but I remember. So I looked at this house. This is on Robert Corps. It's a mall with the grass on the road. Yeah, we went to look. It was a $25 million house in Boca. And pull up a little bit, Rob, so we can show. That's the house. No, no,
like the picture. So that's the house. We probably looked at this house six times, five, six times. Okay. Real nice place, corner, you know, inner coastal, boca, the whole nine. Beautiful,
nicely built. Guess who was the realtor? Oren Alexander. So he comes in and he has it on the market for, you know, 25. I make an offer for 17 million bucks. Okay. He rebuttals with whatever number that he rebuttals with, you know, $24.5 million. Okay. Here's what I'm going to, I'll give you $24.5 million. Great. I come back and I said, I'm out. They call and they say, no, no, no. Why is he out? I said, no,
I'm out. I'm not playing this game. $500,000. This is not a $25 million house sitting on a third of a lot or whatever the size was. Fast forward, I meet another person who's a realtor in Florida. Her name is Sonata. Sonata's actually been on the podcast. They're part of the same company. These guys were number one. I think Sonata's number three or number five in the country. Phenomenal what she does. She used to work for Trump for five years. VP of marketing or VP of something. She was. I love her. If you see her,
she's been on NBC. She's been all over the place. So anyways, so she said, hey, you know, maybe we work together to try to sell you this house. I said, I'm not going to go that high. The number I'm going to make, I'm not going to sell this house for that much. I said, maybe I'll go to a number. We're having lunch at Luff's. You're with me at Luff's. And it's me, you, Mario, and one other person. I don't remember who the other person was. I walk out, I come out, and I said, look, if they go to this number, I'll do it. Anyways,
eventually they play a little bit more games. I'm out again, but this time I'm permanently out. We go to a event in Florida for cards. Don't want to say the name. I'm just saying, I invited you. We went together, you and I. Beautiful home. Everybody's there. It's a small invitation. 10 people are in the room. They're selling $5 million comic books, stuff like that. It's not a low-income. I'm a co-card. Yeah, very, very high end. It's high-end. You can get. Yeah. And he shows up. Okay. Now, this is when I realized he's got a little bit of douche stuff in him. And he comes in. He says, oh, hey, you know,
you could have bought that house. We sold it. You could have bought the house. I said, yeah, you could have gotten a couple million dollars more than what you sold it for. But my initial offer is what you sold it for because real deal announced, you sold it for $17 million. Wow. And then he walked away. Oh, weird. So I don't know who this guy is. I've been around the block when you're around different guys that have certain energy that they give that's just annoying. Maybe he's just annoying is what he is. I'm super arrogant. I don't know. I've been around guys like that that,
you know, they're competitive. They're good at what they do. And in the real estate world, real estate attracts people like this who do very well. In regards to the 30 rape allegations and all that stuff, this is how much I know about it. Nothing. Okay, I've never been around these guys outside of those two experiences that I had. And even when I walk around and I'm trying to buy a house or a property, I'll typically probe the individual to get to know who they are, what they're all about. Tell me about your family, tell me what you're doing, tell me where you're at,
tell me where you're from, what's your story, how did you guys do it? And I'm probing, right, to kind of get to know who they are. That is the only experience I've had with this guy. But the market's going to decide. Lawyers are going to decide what's going on. But 30 is a valid number. Yeah. And I remember all those conversations. I remember the negotiation and Boca. I remember,
you know, sending some text messages, kind of being a part of it. I'm actually grateful where you ended up buying the house. I think you're very happy with the decision. I think that's all that. But this is, I think, a story of your past mistakes can haunt you. What do I mean? I had a conversation yesterday with a very credible source who is very close with these guys,
and I would consider myself very close with as well. He said, I can tell you in the last 10 years, I've seen none of this behavior. What's the reality? These days, all three, there's three brothers that are involved in this. Two are twins, and one, two are in real estate, one is actually in security. They're all married. One of them has kids. They've all been married since COVID. They made a ton of money since COVID. They're living, I think, I believe,
all in Miami at this point. But a lot of their reputation is big ego, narcissists, sort of being douchey. I get that. But just because people don't like you, you don't get along with them doesn't mean that these allegations remain true. And that's not what you said at all, PBD. I'm just saying distinguishing with the two. What I've understood is that a lot of these stories stem from this sex party situation at this guy, Sir Ivan's house, mansion,
castle in the Hamptons. So he's going to have some explaining to do. I think they've already subpoenaed him. Well, we don't know what happened, but these allegations are I showed you, and Pat already saw this story. Since we're on famous people and rape, the Alki David, the heir to Coca-Cola, Greek billionaire, guess how much he has to pay this Jane Dole, the jury just said, $900 million for allegedly harassing and raping a girl over a three-year period. $900 million. I mean,
dude, rape, horrible. He'll pay for it if he doesn't atone to God, but that is the biggest assault verdict in the not to basically just say a billion dollars for raping someone. I don't even think he's worth a billion dollars. I know. Yeah, yeah,
he's got money. Don't get me wrong. But is that not like I thought that was, I thought I was reading it wrong. But a $900 million, apparently, yeah, the Greek billionaire have to pay the woman identified as Jane Doe in a law suit of WAPI. 90 million for allegedly harassing and raping her over a three-year period. It's so despicable. The facts in this case,
he raped my client while on trial in another case, Gary Dordic told the Los Angeles Times. That is, that's all he's worth right there. What was it, Rob? 2.3? I just saw one that's at 50 million, one that's at 1.9, 1.1. When they say he's the heir and hologram,
like what is his when they say he had the Tupac, he had the Tupac hologram, I believe. Oh, that was him. This is the guy that had the Tupac hologram, if I'm not mistaken. Gotcha. And he was married to a girl named Jennifer Stanos, Jennifer Stanos, Stanos, Jennifer something. Yeah, you're right. He's Hologram USA is the company, and she was a model for several of his companies. I think one last thing I'll add is: you know, there's allegations,
then there's court decisions, and there's what turns out to be true. You know, even there's another story right here. Matt Gates, they're coming after him for sex and drug allegations. And I don't know what happened there, and I'm not insinuating anything that has nothing to do with these stories. But these stories, if you do stupid shit, things can be awful. By the way, by the way, here's a part, though. Here's a part that matters. Okay. One night, me and my friends in LA,
I had just gotten out of the army. I'm 21 years old. We go to this one party, and a lot of the guys that I, you know, we used to spend time with, a lot of gangsters and people like that were over there. And I'm like, listen, guys, moving forward, I can't come to these parties. You can't invite me to these types of parties. I'm not coming to these types of parties anymore. And it was me and three other guys outside. I can tell you all their names. If they see this, they'll remember. One of them is dead. The other two are still here with us. And one of them says, whom I love,
I just had a conversation with this guy three weeks ago. And I was like, Pat, what are you talking about, man? We're just regular guys. We're just hanging out. I'm like, no, I can't do this. So the point is, sometimes you have to be careful how deep you go into, you know,
with certain friends that you're hanging out with. If I'm friends with Tom and Tom's friends with another guy who has a rep for doing stuff that's super, super problematic, and I'm hanging out with him and so he's there as well. You just have to be careful. You have to truly pick your friends in a very intentional way,
especially as you age. I'm at a page right now that I'm picking friends based on who I want to be around my kids and how they speak and what language they freely use and all this other stuff. Later on, when you're in your 20s, you have to pick friends for a complete different reason that you're comfortable with them being around you because how they could directly or indirectly impact you. Remember what Suge Knight said about Diddy. Now,
I'll never forget what Suge Knight said about Diddy. He said, Diddy wasn't born wanting to do this stuff to boys. Exactly. Someone taught him. Yep. And who's the name he gave? Hold on, Clive Davis? Clive Davis. Oh, get out of here. Yeah, he says, Clive 12. Wait, wait,
I don't want to mess up the name. What was his name? You can go pull up who he is. What was the name? I think I messed this up one. I don't think you did. I'm going to make sure it's Clive. No, he said Clive Davis. Yeah, you're right. It was Clive Davis. He said Clive Davis. I said the actor once. People got brilliant. Clive Davis. He says,
you're taught. So these guys doing what they're doing, if they did, they were taught. Who did they learn it from? Is it hanging out with that guy? Maybe. And, you know, there are certain things that are cool and all this stuff while you're going through it. Try to get this kind of cool stuff out of your system as quickly as possible because, you know, it can totally destroy your life. Anyways, I want to transition. I want to transition. Next. Money can't buy happiness. It's actually the other way around. Happy people are more successful in life,
expert says to CNBC. A moneyzign.com survey found the average salary Americans believe would make them happy is $94,696. But happiness expert Tammy Mueller asserts happy people make more money,
have better relationships, and are more successful in life, not vice versa. Social scientist Arthur C. Brooks emphasizes that money doesn't, is this the same Arthur C. Brooks that wrote a book about capitalism? Can you type up Arthur C. Brooks? I think he is the guy that wrote a very good book on capitalism. Maybe it's not the same guy. So Arthur C. Brooks emphasizes that money doesn't buy happiness unless it's used for experiences,
getting extra time, or donating to others. Instead, happiness comes from building strong social connections and finding purposeful engagements. Research including a 2005 survey of 225 papers indicates that happiness leads to success in areas like income and health. Mueller concludes,
happiness is the thing that actually causes us to succeed, urging a focus on happiness first, which then leads to success. Yeah, right there. The road to freedom is all about capitalism. This guy's a very good author, by the way. Tom, thoughts on this story. It's absolutely correct because,
you know, it says that results follow attitude. You have, you bring into anything you do, whether it's a relationship, whether it's a job, you have an attitude and you have your skills. And when it's a great positive attitude and you've got good skills,
guess what? Money will follow. How? Not billions of dollars, but you're probably going to need a better bonus. You're probably going to focus. You're probably going to be a better guy and better woman and better it to work with. And I think this is absolutely true. You know, what were we talking about just on the other podcast? That poor people take 100 grand and buy a bunch of things that they think will increase their standard of living or their perception about other people. And, you know,
then the next level people take $100,000 and they invest it. And there you go. Yeah. That's why lottery winners, we've talked about this, actually, I think we haven't talked about this in probably two years, where California studied the first several mega lottery winners had all that money. Four years later,
they had addictions and there were suicides. So the money didn't buy happiness. It actually isolated them from friends. They quit jobs, lost relationships. It made things worse. This is absolutely correct. The most valuable thing you can do is go back to the principles. And you find them in faith traditions. I find them in the Judeo-Christian Bible. And you find them in great writings,
you know, how to win friends and influence people. Who was actually a Christian pastor that wrote that, Norman Vincent Peel? Happiness coming first. How to win friends and influence people is Dale Carnegie. Dale Carnegie. Linking into power, positive. Positive, positive. Thank you. I'm sorry. Sorry. Sorry. Becker. Yep. And Trump used to go to his church. But go ahead. Keep going. No,
but those two. So I would say you get your attitude first. You add skills to it. Success will follow. Yep. Adam. Yeah. Well, I love this article. You remember the scene in the boiler room when Ben Affleck comes in and he starts talking to all the guys and he throws his keys to his Ferrari on the floor and he goes, they say that money can't buy happiness. Look at the smile on my face. Ear to ear, baby. Anyone that says that money can't buy happiness is poor, right? He's used a different line,
but he doesn't effing have any. Doesn't have any. Exactly. So the reality is he's mostly right. The problem that he had is that he attributed money to happiness to materialism. And there's actually scientific evidence that shows that materialism is fleeting,
that it's a sugar high. When you get a new car, when you get a new wash, when you get a new clothes, you feel cool for a minute, but then it's fleeting. And then you want to get something else. You want to get something. When you get a new Casio Gold watch, when you get a new Casio Gold watch, it's a big deal. Go ahead, keep going. It's a big deal. But the reality is money is a tool. It's energy and it's a medium of exchange that enables you to do what you want to do in your life. It's an enabler,
a good kind of enabler. What I love about this article, he talks about money and happiness being used for experiences, gaining extra time and donating to others. I always talk about, you know, the big three things in life, health, wealth, and happiness. We know what health looks like. We know what wealth looks like. But what does happiness look like? I often say that happiness is having meaning and purpose to your life and not just talking about it, being about it, not just saying things,
actually doing things. And as you're doing those things and you're accomplishing these things, you know, and you're becoming competent, you develop confidence and you start to say, oh shit, like I'm actually good. I'm happy. I'm working on what I want to do and I'm accomplishing something. That to me is happiness. So does more money enable you to be happier? Yes,
because it enables you to have more time on your hands, do what you want to do and spend with the people you love and help the people you love. If it's just about materialism, happiness won't be there for you. Benny. No, I agree. I think, you know, there's a flip side to it. The people that never had anything that get the money, then that's a completely different story. Don't you agree? Yeah. Like they never had nothing, Pat. Then they get all this money. They're freaking happy. When you have absolutely nothing and then you get it all,
I think it's a whole different story. You worked for it or you were happy? You worked your ass for it. And then you get it, Pat. Then it's a different story. No, no, no. If it's a lot of work and the experience of, when a group of people sets their minds on a vision and a prize to go after and it's so much hard work and it takes years to get it, it's an unbelievable feeling when you experience it, right? To me,
it's not about happiness. And, you know, back in 2008, when a market crash happened, you know what was the most common word used in book titles? The word happy. Because everybody wanted to be happy. It was a top title of books. Everything was about delivering happiness. Happy this,
happy that. Happy happiness. Happy days. Everything was about the word happy in movies. Now, man, I'm not trying to be happy. I want to be fulfilled is what I want to be. I want to be in a position where I'm in pursuit of something special to sit there and be proud of the work that I'm doing. Now,
personality, there's an attractive personality component where when somebody has an attractive personality, last night we were having a conversation with the kids and the conversation was about obnoxious, being obnoxious. And he says, you know, we're talking, all the kids are in front of me, Senna, Tico, and Dylan. I said, I said, you can love somebody and not want to be around them because they're purely obnoxious. You don't want to be obnoxious because if you're obnoxious,
you miss out on a lot of opportunities. And a lot of opportunities are simply because people don't want to be around other obnoxious people. Now, you may say, well, that's just the way I am. Great. Stay obnoxious. And you're going to be having other obnoxious people around you. If you have somebody that's super grateful,
happy, pleasant, personality, fun to be around, everybody, there's a lot of opportunities that come that person's way. I used to, in a way you work with when you give leads, like let's just say, you know,
I have a client that wants to roll over $100,000 and I give it to one of my agents. And he's like, yeah, hey, when's the next time you're going to give me a lead? I closed it for you, by the way. I closed it for you. Like he did me a favor. You just made $4,000. Then you give another guy another lead and he says the following. Hey,
man, just want to let you know, I never expect any referrals from you because you've done so much for me. And I thank you so much for this referral. Okay. Because of that, we were able to help them out. They're very happy. I appreciate the commission. Guess who I want to give more referrals for? The second guy. He's not even close. So one is entitled Arrogant, I closed it for you. Oh my God. I would have never made it in life without you, buddy. Like that whole concept, like people want to do that. No, it's the attractive personality. So to me,
I don't know if it's really happy people make money. It's a little bit of an attractive personality that, you know, grateful, I would actually replace happy with grateful. I would say grateful people attract opportunities. There's something very, you want to do stuff for grateful people. You want to go above and beyond for grateful people. You give a gift to three people. One guy says, that's it. By the way, you know how you go, you go to weddings,
you give gifts and nobody says thank you to you. At least say thank you. You don't send a thank you card? You don't say, hey, thank you for one of the first things Jennifer does, you know why kids can't open gifts when they get gifts on their birthdays? Watch Jennifer's system. Do you know Jennifer doesn't allow the kids for their birthdays to open their gifts without her being in front of them? Do you know why? Why? Because she has to write a note what the gift was to say in the card,
thank you so much for the Barbie set that you gave to Senna. And some people are like, yeah, I mean, I was expecting like a $500 gift. I thought you were going to give like this kind of a gift. No. So I would replace happiness, seek gratitude,
not happiness. Grateful people, I think, live more fulfilling lives and are more attractive than just people that are seeking happiness because it's happiness could be a high. It's like cocaine. Let me get my next high of happiness. Let me get my next quick, you know, happy. Let me get my next. Oh, Mash, I'm happy. Oh, I'm not happy. Oh, I'm happy. I'm not. No, it's not healthy for you. Take dopamine though. No, no, no. Grateful, grateful. Gratitude. Yes. Real quick,
I remember I used to always have to write thank you notes for a gift these days. Didn't we tell a story about the guy that sent a text message to his grandpa? Like, hey, thanks, grandpa. Did you call your grandpa? It's like you're just texting grandpa. It's like kids are, you know, not as grateful these days. But I'll tell you the one thing that I remember from the Tate interview the second time when we flew to Bucharest and we spoke with Andrew and Tristan. And I think you can appreciate this. He said, you know, the best part about having money? It's remembering when you didn't have any and being like, dang,
you remember when we used to be like the story you tell about how you used to make your own ghetto ass lemonade? I remember that. I remember like, I would do anything for five bucks when I was 20, like anything. You know, 20 bucks, 20 bucks, right, Vinny? Yeah. But remembering when you were broke is the best reminder of where you are. You know, they say that money exposes or reveals who you really are. If you get money and you're a piece of shit,
you're still going to be a piece of shit with money. If you get money and you're actually a good person, you're going to be a good person with money. What and when? Gratitude. Friends, friends from high school. Those who were always negative, they're still broke and miserable. So the friends that I had who were always grateful, optimistic, they're very successful today. Gratitude is key. Happiness is fake. If you seek happiness, you may be fooled and waste a lot of years of your life. All right. Tom,
I'm coming to you with this one here. Pay TV is in so much trouble that even its one bright spot is dimming. So what are they talking about? Let's take a look because this, I got three articles back to back to back. Streaming top broadcast cable viewership by double digits in May. Newsmax lost $42 million last year. Can an IPO save the company? You know, what they're going through. There's even one about YouTube, you know, talking about the fact that YouTube is destroying,
you know, Netflix. But let's go to this specific story here on what it's talking about. So here we go. Pay TV subscriptions continue to decline rapidly with a record loss of 2.3 million subscribers in the first quarter of 2024,
marking a 6.9% drop. Analysts at Moffitt Nathanson described this period as the worst the pay TV business has ever seen as younger people avoid signing up and existing customers cut the cord. Digital pay TV services like YouTube TV,
Hulu, Live TV, FUBU, Sling, initially thought to offset the decline of conventional providers, are also losing subscribers. They estimated that YouTube TV lost 150,000 subscribers last quarter, its first ever decline, indicating that even newer platforms are struggling the flexibility of digital TV services, which allow easy addition and cancellation contributes to subscription. Chern, this trend has led the TV industry to push for long-term contacts,
similar to traditional cable TV models, to stabilize their subscribers base, as evidenced by the fluctuation linked to seasonal content like the NFL. Tom. Well, guess what? Cable and satellite are not dead, but they are dying ugly deaths. DirecTV lost the NFL, and that used to be the anchor. If you wanted all those NFL games, you got DirecTV and you get every single one of them. And then the NFL said, but we're going to take these off Direct TV. We're going to take those off Trek TV. We're going to do Sunday night football,
Thursday night football. And so it all gets spread out. So what has happened is cable and satellite, you know, for people over 45 was automatic. You automatically had a $50 to $75 subscription for cable and satellite. We all remember it. It was a totally. Thank you very much. It was like a second. Thank you for making a great point here,
Tom. Perfect. Yeah, I do have great points. Thank you very much, Adam. The first thing you did when you got into a house, you got the power on, but then you had to have cable on. Remember that? You had to have cable, have a phone. Now it's a mobile phone and you don't need that. So the new generation,
they do not wish to spend $60 a month, $70 a month of their entertainment budget on a box of programming. They want on-demand. That's why they go with Netflix. And they are moving some of their watching from cable to scanning TikTok and music subscriptions. So the new generation that's under 50 years old,
45 to 50 is the line I was reading. They consume entertainment so much differently. And that's what's happening here. And now everybody thought, this is great. We got Hulu. We got YouTube TV. This is the voice from the industry. Yes. Now we don't need to put out those set-top boxes. Everyone doesn't have to get a set-top box. They're just going to pay us $70 through YouTube and we're going to put ESPN Discovery. Yes. You know,
the cooking channel all the time. And guess what? Now it's changed. And now, guess what? Hulu and YouTube TV are actually losing subscribers. Losers. As the new generation says, I want Netflix.
Here's the big three they go after.
They go Netflix.
Yes.
Go.
A music subscription, which is increasingly Spotify or Apple, where they pay 15 bucks or so.
And then they want scan on demand.
And that's the article I read.
It was called Scan on Demand.
And guess what?
They're scanning on demand.
What?
Shorts on YouTube and on TikTok.
Those hours that would have been spent.
What's my favorite?
People would watch three or four series.
People used to watch the other thing I read.
Interesting.
People used to be into three or four series on network TV. You would watch Friends, then you would watch ER, right? You were into it. Now people say, Hey, did you see Game of Thrones? I'm really into that. Did you see Ted Lasso on Apple? I'm really into that. And they're not into three or four. They're into on-demand and they're spreading it around. And it's a generational cliff. And it's leading to,
uh-oh, the alarm bills are now going on in pay TV. And they thought streaming over the top was going to save them, but it's not. Tom, I'm fully with you. I'm not into 304s. Question: How often, legit, do you just Netflix and chill? You're just chilling, doing your thing. That's a private question. First of all, the guy's married. I think what he's asking is, Kim, forgive Adam. How often do you guys watch Netflix is what he's asking? Chilling is private. Chilling is just one of your damn Netflixes. Well,
we have a Netflix subscription, and we also had Disney Plus. We'll see it's PM Plus. But for us, it's appointment television. We don't sit and vegetate. If we say, hey, let's watch a movie tonight. What are we all going to watch? Or, hey, tonight, hey, Dodgers are on Sunday night baseball. Let's sit down and watch it. It's appointment television that's very intentional. We don't just sit down like America did in the 70s and 80s and 90s and just kind of couch potato and scan back and forth. We schedule TV time. Well, yeah, we're intentional,
but it's not like we schedule it like it's written on a board somewhere. But it's very intentional. In other words, we don't flop down after dinner and just vegetate, popping back and forth on channels the way grandma and grandpa and aunts and uncles did when they had cable. What did you see growing up, Vinny? Oh,
with my parents or just using it. Was it called like that? No, no, no. What do you mean? Yeah, no, it was my dad. No, well, my mom and dad, my dad, I mean, my dad would come, he just drank and smoked. So he'd just come home and we'd sit. Either we watch the Yankees or we watch football or anything like that. Definitely never watched any CNN. Thank God they were not political. But we would just watch like George Carlin specials and stuff like that. And my dad would just sit in front of the TV. It was work all day, Come home, sit in front of the TV, and we would watch whatever the hell he was watching.
Nobody dared to touch the room.
And we're in the late 70s, they coined a term, the couch potato.
Potato.
That's what my dad was.
You just sat on the couch and got big and stretchy.
With alcoholism and smoking cigarettes.
That's why people used to consume TV.
The new generation does not do that.
They consume it on their mobile phone, They consume it on their laptop.
They're away from it.
And they don't just sit down and just watch all night.
And now the industry is seeing cracks in the floor.
And that's what's happening.
So, Adam, I think what Adam asks the question because he wants to tell us what he watched.
What did you watch?
Tell us, did you watch Friends?
Did you watch Melrose Plays?
Beverly Hills, 90210.
Are you a 902?
When you wake up in the morning and you're like, no, what about Three's Company?
Zach Morris was the coolest kid in school.
I wanted that later.
I wanted Howskie for him.
I like AC.
But go ahead.
Yeah, I liked, we're talking about this. I liked Beverly Hills 90210. I liked Melrose Plays, dude, In Living Color in the 90s. Forget about it. Oh, for sure. Comedy Jam. Oh, that's where I first saw Vinny for the first time. Seinfeld. Yeah. Table of four. I think Rob's a huge fan of Three's. Three's Company. These days,
I have literally no Netflix, no nothing, zero. I just watch YouTube. Did you watch Three's Company? What's that? Well, John Ritter and the very old show. Oh, my God. But he moved in with these two girls. He fell asleep at a party. He wakes up. They need a roommate. He has to pretend that he's gay for the entire series. Oh,
that's a great show. I remember this. He had the blonde girl, Susan. The girl. Susan Sir. No, not Susan Summers. Susan Summers, she passed away. By the way, these were my. I thought she passed away. She did. But the blonde girl for the older generation, that blonde girl was like every guy, because she would wear tight clothes on purpose. We would all drool over her. He had to pretend that he was gay, and his friend, the neighbor, Larry, was the biggest pervert. He would just come over and try to have sex with everybody. Yeah, it's like, Larry,
get the hell out of here. And by the way, the landlord hated him because they thought he was gay. Dude, this show really fixated on this. This is one of the best because this show wouldn't last. This show would not be airing today. He'll actually be gay. By the way, did you ever watch Family Matters, Steve Urkel? I'll watch all of those. Remember when he would get cool and then he'd be like, Stefan Urkel? I could see Tom doing a thing like he's Steve Urkel one day and then he's cool. Tom, he's the biz doc now. It's like, yes. Steve Urkell. All right,
let's go to the next story. Just give some story French. Rob, I want you to pull up the Boeing CEO with, I think it's Josh Hawley, if I'm not mistaken. Oh, it's one of my favorite exchange. How much money did you make? 33 million. You got to see this, folks. So Boeing CEO apologized to families of crash victims at Senate hearing. And it was an interesting one. You have to see this one here. Let me read it and I will watch the clip. So Boeing CEO, David Callahan,
apologized to the families of the crash victims during Senate testimony, especially specifically addressing those who lost loved ones in the 2018 Lion Air Flight 610 and 2019 Ethiopian Airlines Flight 302 crashes. He stated, I want to personally apologize. And on behalf of everyone at Boeing,
we are deeply sorry for your losses. Nothing is more important than the safety of the people who step on board. Our airplanes, Callahan, Calhoun testimony followed a recent incident, an ongoing investigation. The hearing comes after a Boeing 737 MAX9's door plug blew off during an Alaskan Airlines flight in January,
which Senator Richard Blumenthal described as a symptom of Boeing's broken safety culture. Several whistleblowers have reported retaliation for raising manufacturing and quality concerns, but new allegations presented to the subcommittee. Go ahead, Rob. What is it that you get paid currently? This guy's such a beast. Senator, that's well disclosed in our proxy documents in each of the years that I've been employed. Yeah, but what is it? It's a big number,
sir. Well, let me help you out. It's 32.8 million this year. Does that sound right? Yes, it does. That's a 45% increase over last year. Does that sound right? Yes, It does.
What is it you get paid to do exactly?
What would you say I could pay for?
The Boeing company?
Yeah.
Yeah.
So just help me understand that.
I mean, do you get paid for transparency?
Is that part of the metrics for your income?
I think the board counts on me for transparency.
Really?
Because you're under investigation for falsifying 787 inspection records.
Boeing's under criminal investigation for the Alaska Airlines flight.
You were investigated by DOJ for a criminal conspiracy to defraud the FAA.
This is all on your tenure.
This doesn't sound like a lot of transparency to me.
What about safety?
Is that a component of your salary?
It sure is, Senator. You know, have you seen the reports that the subcontractor that you use to make that door piece that fell out of the sky, that when the FAA went and toured the facility,
they found one door seal being lubricated with Dawn liquid dish soap and cleaned with a wet cheesecloth. Cheese. And another was being checked with a hotel room key card. Does that sound like safety to you? This guy's such a beast. Who's that girl on the left? Wait one second. Whoever that girl's on. I don't even know what her eyes look like,
but beautiful lower half. Anyway, Pep, what's going on? She's beautiful. And then PBD, you know, he apologized, right? So he apologizes to the families of people who died in crashes. Lion Air Flight 610 off Indonesia in 2018 and Ethiopian flights 302 near Addis Ababa in 2019 and the manufacturers of the planes while members of both parties were grilling them. This is,
does he turn around? The one that I sent you, he gets up and turns on. Good. And they all have pictures and photos and stuff. Check this out. Before I begin my opening remarks, I would like to speak directly to those who lost loved ones on Lion Air Flight 610 in the Ethiopian Airlines. Flight 302. Oh,
he actually, yeah, this is it. He gets up and turns around. Well, he has to do it, Rob. I would like to apologize on behalf of all of our Boeing associates spread throughout the world, past and present,
for your losses. They're dumb. And I apologize for the grief that we have caused. And I want you to know we are totally committed to their memory. John Barnett whistleblowers. Work and focus on safety for as long, as long as we're employed by Boeing. So again, I'm sorry. So, and just FYI, you guys see that? That's the whistleblower, John Barnett. Which one is that? John Barnett is the guy on the left, PBD, that committed suicide. Which shirt is he wearing? No, not the shirt. He's on the photo. Oh, God. Yeah,
that's his mother and his brother. Mother and brother. So, this is what else was said in the testimony. He said that whistleblowers, the ones that are still alive, said that Boeing is cutting every possible corner on quality and safety. They eliminated safety inspections with fewer inspectors doing quality inspections. The whistleblowers raised quality issues and concerns. They were reassigned. They were retaliated against. And they were physically threatened. So if they were physically threatened,
threatening whistleblowers, who's to say that those three, is it two or three whistleblowers so far that have been that died, one randomly with some random disease, and the other guy that shot himself in his car after he had to tell the truth? It's kind of weird. If that's a type of company that threatens people publicly, all these people alleged it, all these whistleblowers, and it was said in Congress, if they threaten physical violence, who's to say, Pat? I know we had the lawyer here. Who's to say that they didn't do what they did to this guy,
allegedly? You know what I'm saying? I don't trust them. Tom. There's two things here that were very striking to me. On one side, you have Josh Hawley, who's absolutely grilling this guy. By the way, his 17-year-old daughter, there's been 12 guys that have tried to take her out in a date. They never get past the front door. I wonder why that is. No, we are. I'd like to meet my dad, Josh Hawley. Can you come in here? I have a few questions. Yeah, no, I'm good. I'm good. And you have two sides to Boeing here. The first side is you've got the commercial aviation side,
which is airplanes that we fly in. The second side is they are one of the five large defense contractors, which has rolled up almost a thousand small defense contractors in the last 20 years. And I believe those two numbers are correct. And so, on one hand, Josh Hawley is grilling him over the commercial airlines. On the other hand, the United States government is giving Boeing billions and billions and billions of dollars a year for military aircraft, for missiles, for bombs,
for all this other stuff. And so, it's shocking to me that for the sake of the public stock, because they didn't set out to cut safety, you won't find any emails anywhere in Boeing that says we're cutting safety. They said, Hey, we need to make more money. We only need two inspectors here, not four. But wait a minute, we can't complete the safety inspection. No, no, no, just make it two inspectors, not four. They were cutting costs and cutting corners, and in the end, that's what cut safety. So, that's what happened here. And so,
I've always been of the opinion that there's too much of a moral hazard, and there should be certain organizations that are not public on the stock market because of the moral hazard. And this is one of them. And this is one of the things Airbus, and I'm not praising Airbus because it's the center of international bribes, European Airbus, and all the consortium of companies that have actually competed, you know, unfairly against Boeing,
which has led Boeing to cut crew owners and do all this other stuff, which they shouldn't have been doing. But this is shocking to me that it took it because this is not the first hearing Boeing has had. There have been other hearings, and these people sat in the audience behind them with the pictures of all these precious people that died in those two crashes of the 737 MAX. So,
hats off to Josh Hawley for bringing it forward. But we got to remember who we got there. You know, Boeing is a hydra, it's a multi-headed hydra. And by the way, this was two days ago, Rob? Yeah, the 17th. But the 17th time. I want to say something here. Okay. So, what did Josh Hawley say? He says your salary is $32.8 million. And then he asked him what? Did it not increase by 50% over last year? And he said, What? Yes. Rob,
can you pull up Boeing market cap this year and then go Boeing market cap a year ago? Okay, right now it's what? 107? All right, what was it a year ago? $157 billion. They're down for the year 32%. Okay. So now, obviously, if you look at 2023, they spiked back up. Why did they spike back up? COVID, People are back to flying.
I remember on TSA used to report on the daily flights how low it was and how it got back up.
But here's the thing: on one end, this is where capitalism gets confusing, when these large corporations are ran by guys like this.
You have a Delaware judge that almost prevented Elon Musk from getting a check that he earned for raising the company's market cap from $59 billion to $650 billion in six years, And they didn't want to pay him the money.
Where he grew the market cap of the company.
He increased the value of the business.
Yeah, this guy gets a raise 50% and the company dropped 33.
As a shareholder, you have the right to ask the question, to say, why something like this happened and you're not doing a good job? These are the types of questions that I think about for a guy that's income's going to 32.8 after everything that's going on. It's a little bit frustrating for anybody that's a shareholder that actually uses Boeing to travel. Big difference between him and Elon Musk. Adam,
did you have any thoughts before we go to the next story? So he's interviewing Josh Hawley. Shout out to this guy. He's grilling the CEO of Boeing, right? He asks him, how much money do you make? $32 million. And then from the scene in office space, remember that? He's like, so what would you say you do around here? Wouldn't it say it's fair to say that your job is to basically make sure that these planes are safe? Yes, that's my primary job. He's like, so you're rather than using nuts and bolts,
you're using dish soap and credit cards. Oh, yeah, that's accurate. The reality is this guy became the CEO in 2020. Was there a worse time for airlines? They're looking at their stock price plummet. We're looking at their market cap plummet. And he's like, all right, we got to save money. We got to cut corners. And just look at the reality. There was more concern with the stock price going up than keeping the planes up in the sky. And Boeing is now tumbling and falling to pieces. And this guy deserves every single grilling that he gets from Josh Hall. How long do you think do you think they fire him,
Pat? How long till they fire him, this guy? These types of size of companies, they don't fire that quickly. They have contracts. Typically, they'll hire somebody on it. It's three-year contracts,
five-year Tom. You can correct me here. They'll typically sign guys like this through contracts that you'll have. And if they fire him, they have to pay the rest of the 18 months of whoever it is you're firing. So it's not like it's a cost immediately if you fire the guy. And the board of directors is ultimately responsible. And usually the CEO is on the board of directors,
is often the chairman. So if it's becomes like, and this phrase is used, it becomes what's called the Mexican standoff, right? We both have a gun on each other. And, you know, you shoot me, my reflex is going to fire and we both die. So you have, oh,
you're going to toss me for this? You're going to throw me under the bus for this? You guys on the board knew this. You approved this. You were all together here. I'm going to bring something up here. And then all of the tort lawyers come out and all of the corporate malfeasance experts come out. And so you have a little bit of a Mexican standoff. Pat's right. You come to the exhibit and you go,
hey, Calhoun, look, we got to make a change here. You've got your contract. We're going to pay it out. They just paid him $6 million in bonuses after the two planes went down to stay through the crisis at Boeing. So if you think the guy's going to get fired, the two planes go down and then they give him a bonus to stay on. So he gets rewarded for planes going on. Let's think about it. Who the hell wants that job? He turns around and has to apologize to the families of dead passengers and whistleblowers. Well,
by the way, remember, they now have a new chairman of the board, and that's David Calhoun. Okay. That's him. That's this guy. No, no, no, no. Stephen Mollenkamp. My apologies. Stephen Malenkoff. David Calhoun is a CEO. Stephen Mollenkampf is the chairman of the board. So they're making some changes on the type in who Stephen Malenkampf is. Yeah. So Boeing's new chairman,
Stephen Mollenkov, told shareholders at the company's annual meeting Friday that he has consulted with investors and customers on Calhoun's successor. Okay. So they're kind of going through the process. Can you click on it real quick? Can you click on that article, Rob? So zoom in a little bit. I think you were reading the shareholders. Re-elected CEO David Calhoun to the board of directors. A preliminary tally on Friday showing as he sought to reshare manufacturers path of stability. I mean at this Calhoun and Mart said he will step down by year's end months after a door plug panel blew out mid-flight from a Boeing 737. So Boeing's new chairman,
Stephen Malenkoff, told shareholders at the company's annual meeting Friday that he has consulted with investors and customers on Calhoun's successor. Proxy advisor Glass Lewis has recommended that shareholders vote against Calhoun and two other board members. Interesting. So similar thing that's going on with Disney, Boeing is going through right now. And sometimes you bring a chairman like this and his main job is to lower the temperature and find a replacement. So, I guarantee you,
Malenkam's number one job right now that the board expects him to do is to find a new CEO. That's what they're doing right now. They're looking for somebody. So, Vinny, if you're looking, maybe you should mitigate. I don't want to say anything, Pepper, but I'm not going to be here. I'm just saying, if you think about it. I mean, you can do better than he is for. So, you go out there and help him with both. Guys, get it tight. Let's get it. Get it tight. Get the dissolution. Rob, can you get that clip ready? MSNBC analysts suggest black voters shifting to Trump because of this information. You know,
that's an insult. I'll give you my view on how I read that. Mara Gray of New York Times suggested on MSNBC's Morning Joe that's noting that black men may be attracted to Trumpism more than black women,
and that this mirrors trends seen in white voters. Gay highlighted, not that she's gay, it's just the last name is gay. Gay highlighted that black voters might feel left behind and taken for granted by the Biden campaign as their daily economic struggles or not addressing despite the campaign's positive economic messaging stating black Americans in their daily lives aren't always feeling. That political commentator,
Bukhari Sellers, dismissed polls indicating Trump's rising support among black voters, asserting Donald Trump is not going to get 20% of the black vote. He's simply not countering the notion of a significant shift. Go ahead and watch this. I actually think that this is a phenomenon that needs to be better understood. I think that the behavior of black voters,
even in just polls right now, is quite interesting. It's something I'm trying to get at in my reporting. I think the answer is that we don't know everything yet, and we'll certainly find out more in November. You know, my instinct is, first of all, that people forget. I mean, Black voters are just like all voters.
They too can be susceptible to disinformation campaigns, Black men, especially, because there is a divide, by the way, in this polling in behavior between black men and women and their interest in Donald Trump.
Black men may be attracted to Trumpism more than black women.
That would be consistent with white voters as well.
So that's another parallel to look at.
I do think that this idea that there's going to be a wave of black voters voting for Donald Trump is highly unlikely, because black Americans know that Donald Trump is a racist.
And so I think that's something they understand implicitly.
At the same time, I also wonder if the Biden campaign's consistent messaging overall about the strength of the economy, especially and how good things are. While that may be true on Wall Street and the indicators,
the economy looks strong, black Americans in their daily lives aren't always feeling that. So when they don't hear their concerns and their lives and their interests represented in that campaign, it does, I believe,
just talking to voters, it really does trigger this sense that they are being left behind, that they are being taken for granted. And I think the Biden campaign and Democrats in general are going to have to work harder this time to get that base to turn out. Yeah, Can I go first on this one, Please.
This lovely lady is completely out of touch with the reality of what's happening right now.
She's on MSNBC.
You know, we can make the joke.
Trump loves the blacks.
I love the blacks.
I also love the whites.
I love the poorly educated.
He loves them all.
Love everybody.
Love the blacks.
But I'm going to make a prediction, Trump is going to get more percentage of the black vote than any president has done in the last 20 to possibly 50 years.
Mark that right now.
We're starting to see the chipping away of support for Biden, whether it's blacks, whether it's Hispanics, whether it's the working class, whether it's young people, And all it takes is, you know, 10,000 people here, a couple thousand people here in six swing states.
We all know that.
Where she is somewhat right is on black women.
Black women are not going in Trump's favor.
But the black homies, the dudes, the fellas, the men overwhelmingly are starting to support Trump. Now, is he going to get the majority of the vote? No. But all he needs to take it is from 10 to 15 to 20. That's it. Do you think that's possible? I do. I actually think Trump will get more votes than any Republican in 2024. And then what will happen is in 2028,
Trump is likely no longer the nominee. It will go back to reality when a different Republican comes in there. But I think Trump is going to get a large percentage of the black vote, especially men. And just really fast, why would you say that he's not definitely not going to get any of the black female votes? Like, what do you say is that the large percentage was. You know what I'm saying? Well, I'm just curious to why. I think men identify with Trump more than women. I think, you know, the biggest issue with the Democrats, Biden, is abortion,
women's rights. I mean, look at all the data out there. But, you know, no group is a monolith. The blacks vote this way. The whites vote this way. The Jews do this. The Catholics do that. We're all individuals here. So she's lumping the blacks. This is what black people do. No, that's identity politics. It's actually bullshit. That's exactly exactly what MLK talked about against being. So people are going to vote for their best self-interest, and that's totally okay. Yeah, and I just think, I mean, I don't know what, because obviously,
look at the channel she's on. She's a talking head for MSNBC. She obviously hasn't been seeing what's happening all over the country. I don't know. Remember the rally this guy had in New York? How many minorities were going absolutely berserk for Donald Trump? I mean, bro, everything from economic policies to opportunities to criminal justice reform to cultural social issues, everything that's happening, bro, she's completely delusional. And I still, I can believe it because it's the channel that we're on,
but they're still playing the Donald Trump is racist, Hitler, all that shit. And I think people are just tired of it because the truth has been exposed, bro. We've had four years of the actual racist, dude, because look at Joe Biden's history. Look at all the shit that's coming out of his mouth. He's the guy. That's the racist guy, but you're never going to hear any of that shit from them. You know, it's funny is words talk number scream. And the first thing is this,
this chick should change her name to Cleopatra because she is the queen of denial. She's not the queen of denial. She is up here. She is showing you the more domesticated strain of Trump derangement system. She is living in denial of real stats. It's not disinformation. It's disinflation. This is the problem. It's disdamination. This damage is the problem. Because if you look at the numbers,
and let's just split it up. You know, let's go black women, Trump is up. Black men, Trump is up significantly. Black people over 40, he's up significantly. Black younger people, not as much, just a tick. So you, but you look at it overall, and he's moved. And you've seen people that look at the aggregate charting when all of those people were polled. And we've seen polls on here that even two weeks ago we had where you had, you know,
all the CNN person did was manage to hold their voice from saying, holy crap, when they were talking about the change from one election to the other. Oh, he was like 6% over here, and now it's like 12% over here. Let me tell you, in a razor-thin election,
you can't lose 1% of anything you had last time. This was it here. We won't look through it again, but this lady was on flipout. Are you kidding me? She couldn't believe it. So forget about it. Let's say it's not 22. Let's say it's only 15. That still is 50% more. Is this the older one? No,
this is the one that was just. But Rob, do me a favor while he's talking. Look at what happened in 2015. 2016, 2012, and 2008. I mean, Obama took 95% of the black vote. Of course. So we get that. So look at the history of the Republican percentage of black vote. I think Trump,
again, is going to get so much higher than it's maybe since maybe Bush in 2000. I don't know. Check the numbers on that. Tom, you're super tight with the black community. Continue. Go ahead, Tom. It's the, well, I'm super tight with the numbers. And the numbers are saying,
if let's say you don't believe the 22, let's hair kit it back all the way to 15%. That would mean from 9% to 15% is 50% more African-American votes coming to Trump than they were before. And I think it can probably be double because the numbers are there. But like I say,
you said one thing that was correct, Adam. It's the adult black males have moved significantly. Adult black females, not as much. Look at that number right there. The adults, black adults have moved a lot. Got it. Black females. Let's look at that. Look at that. 1932,
black support for Republican presidential candidates, 77%. 77%. What happened from 32 to 36? That's the Great Depression. That would have been so. So black voters used to be full-on Republicans,
drops to 28, hovers between 23 to 39 and 56. Then you got Barry Goldwater, 1960. Goldwater ruined it. Destroys it. Goes from 32% to 6%. 15, 13, 17, 14, 9, 11, 10, 12, 9, 11, 46, 8. 4%. 12. If he gets 18, it'll be the highest ever since Goldwater. What's the highest number since Goldwater that we've seen? 17, 76. That's what, in 76,
who was in 76? That's Jimmy Carter? No. It was Gerald Ford. Gerald Ford. No, Jimmy Carter was 76. No. Carter won in 72. Yeah, Carter. That's what I'm saying. Carter won. That's Gerald Ford. So, yeah, but what he's saying is Carter is the similar case study of Joe Biden, which is helping the other side to get a lot of the African-American people. Look at Trump's numbers specifically. 2016, he got what percentage? Is that 8%? Eight or nine? Eight. Eight percent. Yeah. 2020,
he got 12%. 50% more. Okay, 50% more. So if he just does 50% more now and he's at 15% to 18%, that's double than what he did in 2016. That's all that matters here is that Trump is increasing double from what 2016. By the way, can you pull up the Assyrian support for Republican presidential candidates? It's a huge vote. You got to get that vote. You got to get the Assyrian vote. Can we see that chart, Rob? Can you free families through people? It's very Pat,
we're almost out of here while we're on politics. Can we give one more thing? Yeah. Okay. Over the past couple of weeks, did some moving. Found something in a garage. It was a box of stuff that my grandmother had and had a ticket for the Gibson game,
Gibson Home Run Network. And she had operated because there were only a few schools and a few fire stations way back when, Woodland Hills, California, she actually operated as a polling place out of her garage because she had a floral shop in her garage and she had a polling place. And so there's a few things that were kept there. And I found this box of stuff and I found some political memorabilia. Used to be campaign buttons that people would wear,
you know, I'm with Ike and things like this. And this is one from 1972, Dick Nixon versus George McGovern. And this is the one. Lick Dick in 1972. And it is, can we have it? Can we have close? Can you give me a close one here? It says lick dick in 72. This is what you want to serve. This is from the Democrats. This is the Democrats. They're disgusting. Because they called them Dick Nixon. And back in 72, well,
they're really going to lick them. Used to be a phrase for your team's going to win. And it was not negative. But now when you look back, I am disgusted. Tom, pull that closer to your face. Put over here on the screen. I'm disgusting. It's kind of crazy. So,
you know what? Politics has always been crazy. Never thought the phrase lick dick would have been used by you on this podcast. His grandmother had this. His nana. You're Nana. God rest. I don't understand. This is 15 years old. I don't want to hear what you were doing 50 years ago. Well,
at least you did it at the end where parents, this is the earmuffs last 30 months. Anyways, let's go to the last part before we wrap up. If you are a waiter or a waitress or in the restaurant business, this has been a bad podcast for you. Kevin O'Leary, we blame you. You started it and we went into it. We talked about a bunch of different things with restaurants. However, here's some encouraging news for you. There's this man who used to live in New York, now he lives in Florida,
who is running to be the president in 2024, who wants you to pay no taxes on your tips as a waiter or a waitress. And it's very important for you to pay attention to this. Go ahead, Rob. Play this clip. No tax on tips, okay? It's done. Done. And we need to spread the word so that every time you leave a tip for the next five months,
you put on the receipt. Vote for Trump because there's no tax on tips. Look at him. Yeah, that's what's up. You see that? That was done. See the screen? That was done by somebody. They voted. This is a person paying. And they said, vote for Trump. There'll be no tax on tips. That's a person that was not,
that was a tipster as opposed to a tippy. What are they talking about? Listen, I want him to win so bad. I miss him so much. And you have Joe Biden just passing out. Let me ask you a question. Let me ask you a question. Rob,
can you do me a favor? Pull up the following number. Total numbers of waiters and waitresses in America. Total number of waiters and waitresses in America. Okay. Total number of waiters and waitresses in America. What is the number? I'm actually curious. Wow. Okay. So 1.965 million voters. Not voters. Who million? Really voters. Waiters and waitresses. Now,
70%. 70% women. Here's a question for you. Of the waiters and waitresses. The question I got for you is, what percentage of waiters and waitresses do you think vote Democrat? Oh, man. 80%? I think it's probably 80%. Why would you say that? I would say 70%, 80%. Well, it's 70% women. Women overwhelmingly vote for Democrats. 80%. Maybe. What do you think? Let's say 70% of the votes. I don't know what they are. I think that's a later vote. Guys. There's not a big difference between 7,
80%. Let's say 70% to just make you Democrats happy here. Okay, so 70%. All right. If it's 70%, how many people really vote because of what their parents vote for or what their peers vote for? They don't really give a shit about politics. They're like,
man, I think this party is going to be better for me. Who are going to be sitting there saying, bro, how much money you make this month on tips? $4,000. What did you pay tips on it? But what is taxes on tips right now, Rob? Is there a specific tax on tips or you just pay whatever your ordinary income is? What is taxes on tips right now? I think there's a, hey, this is a good question. I think it's applied. Each month are $20 or more. They're taxable income. They're also subject to Social Security and Medicare tax withholding. If you receive $20 or more in cash tips,
report that income to your employee. Your employer will report your tips to W-2 on box seven. Okay, so go a little lower to see if there's any, how much of your tips are taxed. Click on that one right there where it says how much of your tips are taxed. All cash and non-cash tips are received by an employee and they're subject to federal. Okay,
so it's ordinary income, let's say, give or take. Yep. And the cash is down. I read about this. Tips mostly are in credit cards, so it's 100% trackable if it's all in credit cards. Got it. And it ends up. I see what you're saying. I think that makes sense. I would say even 20% is cash. The rest is probably on card. Okay. Out of that 1.965 million,
what percentage of the 70% you think flips? Where does 70 go to? What does 70 go to? Does it have that big of an edge? If they're hearing that message, because nobody's like, CNN's not playing that. MSM is of course. They're definitely not playing. What do you think it goes to? This is a part of America suffering in the affordability crisis. I think the 70 goes to at least 50. Okay. Maybe more. So let's just say it's 50. Okay. Go up a little bit. 50,
20% on 2 million. It's what? 400,000. Let's say only 70% of them vote. 280,000 votes. It's really around 280,000 votes. That's 280,000 votes that you didn't have before. But it's such an interesting angle to take. By the way, if you're somebody that knows somebody who knows somebody who's a waiter or waitress, send this clip to them. Maybe they don't know. Share it with them. Say, did you? It's very open, easy text with this clip. All you have to say is,
did you hear about this? Question mark. Thoughts? Question mark. Did you know about this? Question mark. What do you think about this? Question mark. Will this change to influence the way you vote? Question mark. Send it in a text and just see how people react to it. Because there's a part of it where a person's going to sit there and say,
Man, I made $28,000 on taxes last on tip last year. And I paid, say, 20% taxes on the $28,000. $5,600? You mean to tell me I get that money back? Yeah. $5,600. That's my car insurance and my cell phone payment. You mean my cell phone's going to be free and my car insurance? Yes. Dude,
listen, I won't tell anybody, but I just may vote for this guy. And by the way, let me do some math for people. A restaurant owner has to pay the FICA and Social Security,
which is roughly 8% total on the tip. Where if Adam or someone tips $20, I'm the restaurant owner. I got to pay 7% on that tip to the federal government on behalf of the employee. So no tips is also helping PBD restaurant owners at a time where they desperately need to be. That is such a good point,
Tom. That is such a good point. Adam, last thoughts? We'll wrap it up. Come on. This thought is inspired by Tom's lick dick situation just a second ago. No pun intended. The whole Trump speech right there, one of the top 10 funniest speeches I think Tom's. Kids are talking about the tips and the tippies. It's like I can see him being Vince Vaughan in old school right now. And he's just like, listen, let's just, you know, get back to my place, make a couple bad decisions, play a game of, you know, just a tip,
just for a little bit. Just see how it feels. No big deal. Okay. That's kind of where I think Trump was going with this. But here's the reality. If you make tips, aka cash, you know, all these people are not reporting how much cash they make. Of course, but that's the reality with the cash. So like, I don't think, I don't think this is going to make that big of a difference. Just a tip. We'll see how it goes. I think it is. I think it is. I think because 80% of tips are paid by credit card. Listen, if you want to know, every time I go to Angelo's, Adam,
you've been around me. How often do I have cash to tip people? Honestly. No, I always give the cash. But what I'm saying is, wait, I pay the $500 bill. You pay $10. That's bad. That's our agreement. But the way he's been here,
he's a high roller. I always take the burden of this tip. I will carry it. The word of the day is busted. I will carry that responsibility with me. It's a scarlet letter. Very noble. Listen. You could take care of the tips. I applaud you. You can take care of the tip. I applaud you. I applaud you. That's all I'm saying. I applaud you. No,
but what I'm saying to you is, I don't have cash. Yeah, I understand. So I never, I don't, I don't. By the way, this was when you said one minute. I actually put a timer for you to do one minute. All right. Dang. By the way, for those of you that are going to be out there on 4th of July,
this one's about to sell out and this one's about to sell out. Go to vtmerch.com. Represent the flag. Represent the value taming gear. Run into other people who say, man, I'm a value tainer too. Because if they see this sign,
the logo of value tame. Future looks bright. You're part of a good community. Again, go place the order. I think we got four more spots left on the $300 order because I think six more orders were placed. Having said that, Rob, tomorrow is Stephen Greer. I watched the documentary,
The Lost Century. I told everybody to watch it. Stephen Greer and I, two and a half-hour podcast. Tomorrow, Stephen Greer. This week was Billy Carson. Tomorrow, Stephen Greer. You can only imagine the conversations I'm having with kids right now. We're talking about aliens. We're talking about Trump's uncle. We're talking about Nicola Tesla. We're talking about teleporting. We're having very interesting conversations with the kids. Have a great weekend. We'll see you tomorrow,
