All Episodes
Previous Next
May 23, 2012 - Rush Limbaugh Program
37:36
May 23, 2012, Wednesday, Hour #2
| Copy link to current segment

Time Text
The views expressed by the host on this show still documented to be almost always right 99.7% of the time.
And we're probably going to be there for a while, folks.
It takes being right a long time to move up to 99.8.
It's just it may not even be possible.
But we're going to keep at it.
You never know.
Opinions continue to be audited.
The Sullivan Group in Sacramento, California.
I am the only client.
You cannot have your opinions audited.
Telephone number 800 28282 if you want to be on the program, email address Lrushbo at EIBNet.com.
I can't think.
Well, maybe one exception.
I can't think of another presidential candidate in history who has ever tried to win the presidency by running against capitalism.
Maybe Gus Hall, who was the perennial communist party candidate.
But in the major parties, I don't recall this.
Now I think Obama was running against capitalism in 2008.
Nobody knew it.
I knew it because I know liberals and I know liberalism.
And my fervent wish is that everybody knows them as well as I do.
Every problem we have would be solved, pretty much.
We could relegate these people to permanent minority status as the electoral status, as they are in in real numbers, terms of our population.
But it's now it's it's wide out in the open for everybody to see now.
He's running against profit.
Profit is evil.
There's not a CEO in the country qualified to be president.
I wonder how Warren Buffett feels about that.
And Biden's out saying the same thing, by the way.
Yeah, Biden and Obama, they're reading from the same script.
Got CEO, my job's much different.
Being president, much different.
CEO, all they have to do is worry about profit.
I have to worry about the community.
I have to worry about everybody gets a fair shake.
That's not the job of the president.
The president is supposed to enforce the Constitution.
Limited government.
The president is supposed to promote liberty.
The president is supposed to guarantee our freedom.
Make sure but he gets a fair shot?
What's that?
Somebody define fairness for me.
Anybody out there got the courage to try to call here and define fairness for me as you interpret it the way Obama uses it.
My job is president to make sure everybody has a fair shot.
What does that mean?
And what kind of power must the government have?
What kind of power must the president Obama have to do that?
If he sees his job as guaranteeing everybody a fair shot, do you realize the penalties and the punishment he can meet out?
On a whim?
Simply because he wants to.
That's that's one of the reasons I'm convinced that Petha Cucas, Jim Pathacoukas AEI, finds this statement of Obama's pure dangerous.
It really is.
All right, since we started Rush Babes for America on Facebook, Facebook.com slash rush babes for America.
This folks are wildly successful Facebook group of conservative women, and not incidentally, conservative men that appreciate conservative women.
My email has been deluged with one question, and I mean deluged.
Everybody wants to know how they can display their status as a rush babe to the world.
Everybody, okay, they sign up, but then what do they do?
What do they do?
How do they show everybody that they are a proud rush babe and drive liberals crazy?
And I'm not kidding on the number of these emails.
And I told you there have been thousands of them.
And they've been split between that they have been asking for bumper stickers and t shirts.
So we are reacting to a popular demand.
I made an executive decision.
I drove the merchandise guys crazy by telling them that we are gonna give away bumper stickers free with the purchase of t shirts.
I like giving stuff away.
The merchandise guys don't like giving anything away.
But I am the grand poo-bah.
I'm the head honcho.
And so if they want to sell t-shirts, I said, fine, you're going to give away bumper stickers at the same time.
That's what we're going to do.
We have four designs that are now up and available at the EIB store at Rushlimbaud.com.
We have, by the way, we already have something that you can get.
It's our conic rush babe on board warning sign.
You like baby on board.
Those things always offended me.
I first saw a baby on board sign when I was California working in Sacramento.
I pulled up behind somebody at a stoplight and a baby on board.
And I said, Well, what am I supposed to be extra careful here?
If there was no baby in there, I could be less careful and maybe get involved in an accident.
But since there's a baby on board, I'm supposed to be extra careful.
What's that?
That was my first reaction to it.
But I eventually got with the flow, and we have Rush Babe on board warning signs already in the EIB store.
Now we have it on a t-shirt.
And for those of you who like poking fun at the nags as much as I do, we have a brilliantly executed t-shirt that now says on the t-shirt says, not now I have a headache, now being national organization for women.
So all of you rush babes who've signed up and you want something to irritate the liberals, or you want something to display your status, we've got it.
A t-shirt that says, not now, I have a headache.
And each one comes with a free matching bumper sticker.
So whether you are out walking around or in your car, you can drive the libs absolutely crazy and remind them that their false values are not yours.
It's all in the store.
The EIB store.
We don't talk about the EIB store much on this program, and you know why I'm not comfortable with it, but it's there.
And there's always stuff.
There's always merchandise in the EIB store.
Club Gitmo line is still there.
Thriving merchandise.
That's why we're interested in the place staying open.
Because of our thriving licensed merchandise business involved at Club Gitmo.
So just go to Rush Limbaugh.com and click on the EIB store.
And it's if you see it up there on the homepage, and it's on Facebook and everywhere else later today.
Tweet it and make it widely available.
So not now, I have a headache and a bumper sticker that says the same thing.
Gallup, 41% of Americans now identify themselves as pro-choice.
down from 47% last July.
It's one percentage point below the previous record low in Gallup trends.
That was in May of 2009.
50% of Americans now call themselves pro-life That's one point shy of the record high also from May of 2009.
Gallup began asking Americans to define themselves as pro-choice or pro-life on abortion back in 1995.
And since then, the identification with the labels has shifted from a wide lead for the pro-choice position in the mid-90s to a narrower lead for pro-choice from 98 through 2000.
Now it's pro-life leads.
50 to 47%.
Kentucky, 2012 primary.
President Obama rejected by state Democrats in 67 counties.
If you missed the top of the program, so it's Kentucky, it's Arkansas, West Virginia, in the last two weeks.
Obama has lost 40% of the primary vote in these three states, the Washington Post out with a story today saying it has to be racism.
Has to be.
We're talking Democrat voters.
We're talking Democrat primary voters.
And the Washington Post is concluding it has to be racism.
Can't be the destruction of the economy.
Can't be the absence of jobs.
Can't be the fact that home prices and values are low.
Oh, speaking, grab audio soundbite number 26.
We have a guy here, Gary Schilling.
This is last night on Bloomberg TV Street Smart program.
The co-host Trish Regan spoke with Gary Schilling, who's a Bloomberg View columnist.
And they were talking about the housing market.
And she said, what's your big concern about housing?
You don't buy in these numbers that we saw today.
Is that because of excess inventories?
We estimate that there are two million inventories, both visible and shadow inventories, over and above normal working levels.
And that's a lot.
Back in the normal times, we build about a million and a half houses a year, so two and a half million is a tremendous overhang.
And excess inventories are the mortal enemy of prices.
What may happen here is that now that the robo signing flap is settled and the servicers, the big banks settled for $25 billion with the various state attorneys general and the federal government, they've been holding off on foreclosures because they had enough bad PR.
Now they've settled that.
I think they're going to go back to foreclosures.
I'm looking for another 20% decline.
In the housing market.
This is an expert at Bloomberg.
Another 20% decline in the housing market.
See, the big banks were foreclosing.
Obama didn't like that, so he called them on and he fined them $25 billion.
They had to pay $25 billion.
And because they've done that, that takes care of their PR problem, they think, and this guy expects them to start foreclosing it.
So it can't be that.
It it it can't be the fact that nobody can find work.
It can't be the fact that Obama's out touting gay marriage.
Oh, no, can't be any of that.
These white Democrats in Arkansas and Kentucky, West Virginia, who voted for Obama, you know, wait, have all of a sudden become racists.
That's it.
The Washington Post has made that determination.
Last night on Charlie Rose on PBS, Audio Soundbite number five, Mark Halpern, Time Magazine, having a discussion about the presidential contest.
And Charlie Rose looks at Mark Halpern and says, Mark, I want to know.
I get the sense it's not good out there.
How do you see it, Mark?
The economic fundamentals are really against the President.
The Washington Post poll that was mentioned shows that something like I think it's 14% of the people think they're better off than they were before the President took office.
That's a startling number.
I think the Governor Romney is surviving this pain attack.
He may not in the long run, but I think the facts of it and the way they're burning it out, it was an issue earlier.
I think that that a lot of the attacks they're going to make on Governor Romney may burn themselves out before the general election.
And I think their Obama people may be overestimating the extent to which people are paying attention now.
So for the press and for some people, I think they're burning them out too quickly.
And I think again, when the time comes when people start to pay attention if Governor Romney rises to the occasion, I think he's got a chance to win this much better than I thought before.
Everybody's now starting to think this.
This is not news.
It's this has been the reality for as long as I've been telling you it's the reality.
That Romney could win.
Daffy Doug could win.
Daffy Duck could have gotten the nomination and still beat Obama.
And I'm not overly confident.
I'm not just saying this, this is not my hopes and dreams finding a voice.
I really believe this.
It's common sense to me.
Surviving this Bain attack, he may not in the long run.
How how would that work out?
If he survives the initial assault on the attack on Bain, and he wasn't even there at the time Bain is being criticized.
How does he not how does the long run catch up with him on this?
I don't understand that.
And then Halpern says, we in the press are getting bored with the story.
That's what he means here.
When he says people paying attention, not paying attention, we're getting bored with this.
Burning it out too quickly.
And when uh time comes people start to pay attention, if Romney rises the occasion, I could be all over.
And then Charlie Rose, well, he essentially survived the bitter primary process, Romney did.
If they don't disqualify him the way President Bush disqualified John Kerry, I think they'll be he'll be able to win.
If Governor Romney looks strong month to month, a lot of conservative millionaires and billionaires are going to give to these super packs in a way that may give Governor Romney a huge advantage, a huge advantage in money in the nine to twelve states that will decide this.
And again, that can help him survive.
As long as the Democrats don't knock him out, I think he'll win.
There you have it.
And millionaires, people who have skin in the game and they're listening to the president of the United States say something they'd never heard a president say before.
Never in my, I can't recall, in my lifetime certainly, that's what matters here.
Your lifetime, too.
Maybe go back Woodrow Wilson, but in in our lifetimes, we've not had to listen to a president run against capitalism for re-election or election.
And that's what Obama's doing.
And what Halpern's saying is these guys with skin in the game, to whom profits everything, they're not going to just sit idly by.
The rich never do.
When their taxes go up, they find a way around.
The rich do not just sit around and let this stuff happen to them.
So they're going to give to these packs these Romney super PACs.
And you just if if if Obama can't take Romney out the way Bush did, Kerry, that's a swift vote reference, by the way.
And that's not why Kerry lost.
Kerry lost because he deserved to lose.
At any rate, Halpern is unwittingly admitting the only chance Obama has is to find some piece of dirt on Romney and make it stick.
They can't win this election on issues.
They can't win the election on promises.
They can't win on any of their own ideas.
And Obama's number one idea now is to run against capitalism.
Now, country may be in trouble and we may be far gone, but we're not that far gone.
Where a campaign of anti-capitalism wins the White House.
Isn't going to happen.
Be right back.
How are you?
Welcome back.
How about this headline?
Man arrested for drunk driving while his pet zebra and parrot were in the passenger seat.
You saw this?
It's in the Daily Mail, UK Daily Mail story is out of Iowa.
A drunk driving arrest turned into an animal affair when two of the passengers that a drunk motorist was putting in harm's way were his pet zebra and McCaw.
Parrot for those of you in uh in Rio Linda.
Police made the unusual arrest when a passerby reported seeing a zebra and a parrot sitting in a pickup truck parked outside the doghouse bar and lounge in Ankeny, Iowa, just outside Des Moines.
In all of my years, I have never had a story where I can tell you that a guy was drunk driving and was stopped because he had a zebra and a parrot in the front seat of his pickup truck outside the doghouse bar and lounge near Des Moines, Iowa.
And there's a picture of the guy.
And believe me, looks exactly like you think this guy would look.
Long hair maggot infested, dope smoking FM type.
And there's a picture of the zebra sitting in the front seat of the pickup truck.
And the parrot.
There's no indication which way this guy votes, but we could probably make a guess.
Here's Jerry Pensacola, Florida.
I'm glad you called, sir.
Welcome to the EIB network.
Thanks, Rush.
I appreciate you taking my call.
You bet, sir.
Um, it's no secret.
You've you've mentioned this time and time again, and most people who pay any attention realize or rem if they remember that uh Bain C uh the GM and the way they were treated is the same thing that Bain Capitol does all the time.
Uh that that fact is no secret.
You've mentioned it before, but what puzzles me is why the Well, wait a minute.
Wait, explain what you mean.
That the Well, they uh they had to shut down all the dealers.
They had to make GM smaller to save jobs, supposedly to save the company.
So a lot of people were out for it.
And what did they have?
They were trying to become profitable.
That's exactly right.
But what puzzles me, I mean, that's common sense to you and uh most folks, but what puzzles me is why the PR people for Romney's campaign aren't banging away at that every day.
They ought to have some of those car dealers doing some of their political ads.
They ought to have some of the stockholders who had to take a bath on the stock to counteract some of this other stuff.
I thought these people were smart, but I began to scratch my head.
Well, I think look, I I I have no contact with the the Romney campaign people or earning it.
I my guess is they're sitting around letting the Democrats handle this for them.
I mean, when you've got all these Democrats coming out and attacking Obama for the ad and defending Bain and private equity, it's kind of those situations where okay, just back off and let them have had it.
Um I thought I think Romney's rapid response team actually been pretty good on on some things.
Well, they're pretty good at hauling out uh props for the the Democrats for their uh own purposes, and I would think it would be people would set up and take notice if you had some of these car dealers that lost their j uh their businesses and some of the people who own stock that had to take a bath for the same forget the stockholders, but the bondholders, they're the ones that were forced to take a bath at General Motors.
They're the ones Obama called greedy because all they wanted was the first return on their investment.
Absolutely.
It just puzzles me that they're not banging away at that.
If I may one more thing.
Uh I got my first order of your tea the other day.
Yeah.
And I don't have a big enough head to think you did it because of me, because I did send you an email earlier when you first started selling tea.
But I have looked for ages in every convenience store and every grocery store I can find for plain tea.
And you like ours.
That's everybody does.
What can I say?
Talent on loan from God.
Rush Limbaugh meeting and surpassing all audience expectations every day here behind the golden EIB microphone.
Great to have you with us.
Telephone number 800 282-2882 if you wish to be on the program.
You know this oops, the g the guy called.
I just knocked the bottle of plain tea on the floor, trying to reach for it.
A guy called, and he I I was hoping that he would get to it quicker because time was winding down, but he was he wanted to talk about how much he loved the plain tea.
It's kind of a crime to call it plain tea because it's so good.
It's just unsweetened.
And I I have to tell you, we started two if my tea with uh regular sweetened tea and diet and uh uh uh raspberry.
And then we had other flavors, and the moment that we introduced the product, we started hearing requests requests from people for plain unsweetened tea.
And I poo-pooed it.
People want unsweetened tea, they can make it themselves.
I mean, it takes no art.
But people can't do their own raspberry tea.
They can't do their own peach, blueberry, or what have you.
And yet the request kept pouring in for just plain unsweet tea.
So we finally actually Catherine had finally said, Look, we're gonna have to do this.
I mean, it the demand is overwhelming, and it was.
So we introduced the plain unsweetened tea a month or two ago, and it is it uh going like gangbusters.
And I must I admit to being totally surprised.
It's like we don't offer lemon.
I mean, if you want lemon in your tea, go grab a lemon, slice it, squeeze it in there.
You don't need me for that.
But you do need me if you want great blueberry tea.
You don't need me for unsweet, but the it's going gangbusters.
And I have to admit, you know, I'm a marketing pro, a marketing expert, but I missed this one.
Uh if if it hadn't been for Catherine insisting, and I would have nah, no, no, because these are I viewed it as all anecdotal, not scientific.
We weren't doing um professional research to show what kind of demand there might be for unsweet tea.
We're just going by instinct and my instinct was yeah, we're hearing from some people, but it's by no means a majority of our buying public.
It turns out that I was wrong, and this stuff is is loved and adored by people.
So I I wanted to thank the guy for his um for his uh nice words.
Um we had uh one thing, he wanted to know why there is not a rapid response by Romney to the Bain ad using General Motors.
The same thing Obama took over General Motors, General Motors was in trouble, had to bail it out, had to save them, and what did he want to do?
Wanted a profit.
General Motors needed to make a profit stay in business.
Then Obama gums up the profit motive by making them produce this electric car that sadly nobody wants.
We all want General Motors to do well.
We especially before Obama bought it and gave it to the unions.
Bain never gave a company to the unions.
If Bain Capital had bought a company given it to the union, Obama would love them.
But his point was that there's all kinds of great potential political ads waiting to be made because Obama closed a bunch of dealerships.
And it turns out that a majority of the dealerships that Obama, the government shut down were Republican-owned GM dealerships.
Not all, but many of them, most of them were.
And so his thought was the callers thought were go out and get some of these dealers, do a bunch of political ads about how Obama runs a company.
And how Obama is seeking profit for his own company, General Motors.
Well, the Romney team does have a response to the Bain attack.
The Romney rapid response team has made an ad out of the Corey Booker remark, and we have the audio of it.
Have you had enough of President Obama's attacks on free enterprise?
His own key supporters have.
Democrat Mayor Corey Booker of New Jersey.
I have to just say from a very personal level, I'm not about to sit here and indict private equity.
Former Congressman Harold Ford Jr., Democrat from Tennessee.
Private equity is not a bad thing.
Matter of fact, private equity is a good thing in many, many instances.
Former Obama economic advisor and auto czar, Stephen Ratner, a leading Democrat.
And I don't think there's anything Bain Capital did that they need to be embarrassed about.
They've done a lot to support businesses who grow businesses.
Even Obama's own supporters have had enough.
It's nauseating to the American public.
Enough is enough.
That's Corey Booker.
So they did put an ad together.
They did uh rapidly get the ad up, capitalizing on this stuff.
And I said the re the Romney rapid response team's been pretty good.
Whether it uh Hillary Rosen uh attacking Ann Romney for never having worked a day in her life, or they're I think they're they're pretty quick to the draw.
I mean, it's much better than what the McCain team was doing.
It's not even a comparison.
Now you want to hear something funny.
CNN.
By the way, two weeks ago, they hit some sort of record low in the ratings.
Their highest-rated show was this guy, Piers Morgan, the import from the UK.
I read a story.
If you go to the UK, you mentioned Piers Morgan, everybody starts laughing.
Apparently he's discredited for whatever his antics were there.
So it makes total sense.
I mean, CNN hires Elliott Spitzer, they hire Piers Morgan, they hire goofballs.
Now it turns out last week, CNN's ratings practically hit an all-time low, a 20-year low.
CNN goes back to the 80s when they started.
And you have to wonder, the executive team at CNN never changes.
Now their news directors come and go.
Those are the people that get fired every three to five years when nothing changes.
But the people hiring the directors of news never get fired, never get moved as the same executive team.
Well, for the last ten years during this plummet.
This may be one of the reasons why.
This is yesterday morning on CNN's starting point, and their business correspondent Was trying to explain to the remainder of CNN's viewers what private equity firms are.
And she said basically it's rich people investing with other rich people to make evil money.
And she agrees with Obama that this is what the election is all about.
It's Christine Romans, and this is this is CNN telling what's left of their audience, what private equity is.
Translation, it's rich investors, wealthy people who pull their money together to invest in companies.
Anything that can make them money.
It's about making money.
Often they zero in on failing companies.
The private money comes in, it restructures, sells divisions, closes failing parts, and reaps the benefits from the good parts.
That in its essence is what Mitt Romney and President Obama are fighting about.
Whether Mitt Romney just tried to make money, Romney says making money makes jobs.
It's impossible to know how many jobs were created or lost because private equity is private.
But Mitt Romney's entire career is built on the private equity business.
And that's what this election is going to be about.
Who is better at creating jobs?
The capitalism of Barack Obama or the capitalism of Mitt Romney.
Well, if that's the question, Christine, it's over because Obama isn't creating job.
And Obama is not a capitalist.
The capitalism of Barack Obama or the capital.
By her own definition, private equity swoops in and tries to save failing companies.
One of the reasons why is you can get them cheap.
You move in and you get rid of why they are fake.
Christine, by your they're failing.
If Bain or some other private equity firm didn't move in to try to save them, they'd go belly up, and everybody there would be out of work.
So Romney or Bain, and again, I must stress that the ad Obama ran criticizing what Bain was doing.
Romney wasn't there.
He'd been gone two years.
Christine Amantify keeps up, CNN's gonna need private equity firm to come in and bail it out and save it.
Your job, Christine, may depend on a private equity firm down the road.
You never know.
But by definition, private equity comes in and buys failing companies.
Why?
Not to hammer the final nail in the coffin.
They want to save them.
Now they're already failing.
There are reasons they are failing.
I'm sorry for sounding like I'm teaching six year olds.
I'm uh see it CNN audience here.
I'm talking the failing company.
It's failing for specific reasons.
If you want to save the failing company, you you change what's failing.
You close it down, get rid of it or whatever, and you focus on whatever strengths there are, and then you build it back up.
And in the process, some people and some divisions might be shut down and people lose their jobs.
But if not for the the private equity firm moving in, everybody would lose their job.
And you know what else happens, Christine?
Recycling.
Yes, the private equity comes in and they have to obey federal rules and they recycle.
And they and and they they pay special attention to how they take care of their trash and junk, and they have to obey environmental laws and rules.
And the reason they do this is to turn a profit on the company, which is how a company's success is determined.
If there are profits, it succeeds.
If there are no profits, as in the case with Obama's bailouts like Cylindra and General Motors, I mean, all this green energy, Christine, every industry or business Obama's tried to bail out has gone bankrupt after they've sent their donations to him.
The capitalism of Barack Obama, the capital, and Romney's not even at Bain when all these attacks are going.
I don't know.
I just find it hilarious.
Snerdley, a story here will fascinate you, be very interesting to you.
ABC News.
Headline Olympic athlete says she is a virgin.
Her name is Laurie Lolo Jones.
Says here the schedule of an Olympic contender doesn't exactly allow for a lot of dating.
That's why 29-year-old track and field star Lori Jones has yet to find a boyfriend and is still a virgin.
You believe this is a story.
It's a story.
ABC found a virgin.
What was this?
Last night, I guess.
In an interview airing last night on HBO's Real Sports with Bryant Gumble.
She said she has yet to have sex because it's a gift I want to give my husband.
And despite her hardest effort, she hadn't been able to find any contenders.
She first announced that she was a virgin on Twitter.
I've been tempted, she tells Brent Gumble.
I've had guys tell me, hey, you know, if you have sex, I'll uh it'll help you run faster.
Guys have tried everything.
She says.
Her response is, okay, if having sex will make me run faster, then marry me.
And she says they all turn around the other way.
This journey has been hard, she said.
It's the hardest thing I've ever done in my life is stay a virgin.
Harder than training for the Olympics, harder than studying for college has been staying a virgin before marriage.
You know, I once got in trouble.
My very first radio job, what was I?
It had to be 18.
Might have been 17.
I might have still been in high school.
I might get in trouble for repeating today what I did then.
In my hometown, there is a university, Southeast Missouri State University, and they have the big administration building, the big building on campus called Academic Hall.
And on top of Academic Hall is a dome.
And on top of the dome is a light.
And I noticed once that the light was off.
And I asked somebody, well, what does that mean?
They said there's no more virgins left on campus when the light goes off.
So I happened to mention that.
And it's a 25,000 people.
That was the first time I got in trouble on the radio.
And it was all because of making a joke about virgins on campus.
But I I it's amazing.
They found a virgin in America.
And she's one on the Olympic team.
Okay, brief time out, folks.
Sit tight, back with much more after this.
Okay, I just got a story in the UK Daily Mail, and I've got to set something straight here.
Headline, how Zuckerberg cashed in 1.13 billion dollars worth of shares before the stock cratered.
He did.
Zuckerberg, as soon as he could, sold a bunch of his shares after the IPO before the stock cratered at 1.13 billion dollars.
So did some other Peter Thiel, who started PayPal, who had given Zuckerberg 500 grand early on to help get started.
Here's what I didn't read this whole story.
It prints out a long way, but I and I'd be surprised if this story doesn't mention it at the end.
But this was all in the prospectus.
Zuckerberg did not do anything that was not known.
The prospectus said that Zuckerberg and a number of others were going to sell their stock a portion of it.
He was worth $19 billion after the IPO.
At $38 a share, he was worth 19, but it's not that now.
But he's still worth multiple billions, even with the share price where it is.
But the prospectus was very clear that Zuckerberg and some of the others were going to sell.
He didn't do anything in a secretive manner.
It didn't run any kind of a scam.
It didn't do something that people weren't aware he was going to do.
This is what happens.
This is one of the reasons why there are IPOs.
He's the founder.
Up till now, all he's had is paper money.
The company had not been monetized.
It was always a company on the cum.
Now they're I think Goldman Sachs put $500 million into it.
Remember when that happened, everybody was trying to value the company.
What is this company actually worth?
Everybody remembers the dot-com bubble when there was no there to all these dot-com companies.
And for the longest time, people thought that of Google.
When the Google stock price was $500, $600, or still is, what is what are they?
Well, they're an advertising company.
And that's what Facebook was going to be, but they've got big problems.
But Zuckerberg selling some of his stock, $1 billion worth, was part of the original perspective, part of the deal.
There was nothing chicanerous about this.
I'm just telling you, everybody missed this.
When General Motors pulled out, so we're no longer advertising.
That to me, that was the biggest red flag about this that anybody could have told me.
If a prominent government-owned company, a buddy of Zuckerberg, Obama, claims that Zuckerberg's advertising doesn't work, whoa.
Head for the hills.
Gotta take a brief time out.
Once again, folks, don't go away.
Well, I knew this was going to be a fast three hours, but I didn't know it was going to be well, it's not three yet, but it's two down.
▲
Export Selection