Right About Now with Ryan Alford - Chase Bank TikTok Trend Exposes Alarming Rise in Check Fraud – What You Need to Know!

Starting point is 00:00:00 This is Right About Now with Ryan Alford, a Radcast Network production. We are the number one business show on the planet with over 1 million downloads a month. Taking the BS out of business for over 6 years and over 400 episodes. You ready to start snapping necks and cashing checks? Well, it starts Right About Now. What's up guys? Welcome to Right About Now. It's our weekly business news of the week here on September the 6th, 2024. Joined, as always, Brianna Hall. What's up?

Starting point is 00:00:37 Hey, guys. Chris Hansen. What's up, brother? What up, Ryan? What's up, Brianna? Hey, we are right about now. Ready to get into it. It's been a good week so far. Short week. I've been, I don't know about you guys, but I've been in that what day is it mode? Because when Monday's the holiday, I'm all thrown off, like telling my kids what day it is,

Starting point is 00:01:02 or they got to do something based on our normal schedule. And then I'm like, no. And I will say this random. Bear with me. I they have at Harris Teeter, the local grocery store here in Greenville, they have five dollar pizzas on on Monday. And so last night, Nash and I were getting pumped. Nicole went out with some friends for like some kind of birthday party or something. So it was just me and Nash. It was a two-dude night. The other boys were away.

Starting point is 00:01:30 And pumped. $5 pizza night. I call up there. No, it's Tuesday, sir. I'm like, son of a bitch. Anyway. Do they still do pizzas and they're just full price yeah they're 13.99 so like hey that's i mean that's five dollars that you know that's weighted the decision because it's like

Starting point is 00:01:53 for 14 bucks we might choose something else but for five dollars these are big pizzas this is a good deal it's like let me tell you the deal of the century, if you're listening, and there's a Harris Teeter near you, $5 Monday pizzas is a bargain. So, yeah, we went with plan B and had steak. Hey, that's a pretty good plan B if you ask me. Well, we actually had that at home. So, you know, we made do with steak instead of pizza. But anyway, there you go. Monday's thrown off.

Starting point is 00:02:26 Hope everybody had a great Labor Day weekend. Definitely did not work. So it's the irony of Labor Day and not working, I guess, is the point, right? Yeah. Anyone do anything that they want to mention for Labor Day weekend here? Chris, do you have anything? I relaxed, man. I took it easy.

Starting point is 00:02:47 It was kind of rainy, and I took that time to just chill and hang out. I loved it. It was great. Let's see. I took my family to Ikea. Ah, Ikea. In Charlotte?

Starting point is 00:03:00 In Charlotte. Yeah, nice. The Ikea. Did you get anything that took like seven years to put together? You know what? We didn't. We were there and we were like ready to buy like 10 things. And we looked at each other and I was like, oh, we're going to have to put these together.

Starting point is 00:03:14 And my husband was like, yeah. And I was like, let's just come back. Nicole's really good. I've become way more handy having a boat now. But like Nicole's the putter together of the two. So she loves putting like little things together. So I just sort of like, you know, play with the kids or watch TV. That's Matt.

Starting point is 00:03:37 Well, she puts those things together. Ryan's just leaning back on the lazy boy as Nicole's sitting on the ground in the living room building the fucking cabinet. Good job, honey. Good job, honey. No, Phillip said, not the flathead. Hey, don't over-tighten the, whatever those things,

Starting point is 00:03:53 the hex wrench, the Allen wrench. It's worse than backseat driving in your backseat construction. She doesn't want me because I get to drill out no matter what, and they don't want you using the drill on those things. I'm putting this thing together that says two hours, oh, 30 minutes, guaranteed.

Starting point is 00:04:09 And I don't read instructions. No, I'm the same way. When Matt and I first got married, we were like moving stuff out of my apartment. And he was like, this bookshelf is put together with nails. He was like, it's not supposed to be. I was like, I didn't read the instructions. Yeah.

Starting point is 00:04:27 I usually end up with extra pieces or, you know, I definitely end up over-screwing things or stripping the screw. I'm known for that. Nicole will see something. She just gives me that look. She knows. She's like, if there's a stripped screw in the house, she knows where it's at because Because I over tightened every time.

Starting point is 00:04:48 It's like, oh, come on. Push anything. I'm like pushing all my might into it. It's like, all right, unnecessary. But anyway, Ikea, that's all I think of is the having to put shit together. Yes. So we ended up with a bunch of kids toys and like little baskets and not anything to put together. And some like new dish towels.

Starting point is 00:05:07 I've done that. I've went like at the end, I'm like, I don't want to do this. I like leave with like, you know, a fucking fake bamboo plant. And two dish towels.

Starting point is 00:05:17 And I'm like, well, got a good deal on those. Yeah. If you went there, you had to get something. So I've tried. I've just ate over one in G Vegas here.

Starting point is 00:05:25 And you got to get some of the meatballs, the Swedish meatballs. If anything, you got to get some lunch while you're there you had to get something so i've tried obviously one in g vegas here green and you got to get some of the meatballs the swedish meatballs if anything you got to get some lunch while you're there yeah i had some meatballs this weekend my sister and brother-in-law came down to the boat and she made some nice meatballs they were good love a good meatball yeah hard to miss you know i'm not gonna touch that one yeah So we appreciate you wherever you are, whenever you are, however you're listening. Appreciate you for staying tuned. Don't forget to watch us over there on the YouTubes. Hey, you want to see this? You got to see these glasses Chris has on today.

Starting point is 00:05:57 You know, he is rocking and stylish. I don't know. I'm going full Miami today. Full Miami. What do we call those? They just trendy, trendy glasses. Blue blockers. I don't know. I'm going full Miami today. Full Miami. What do we call those? They're just trendy glasses. Blue blockers? I don't know.

Starting point is 00:06:07 Yeah, they look kind of like the blue blockers back in the day. They were like the gold-tinted, red-tinted blue blockers. It's bright here in the VK Lounge. It's bright in here. I got to keep my eyes healthy. Yes. And appreciate Sawyer, our producer. He's got the Radcast Network logo up behind me.

Starting point is 00:06:27 We are growing the network. If you're a podcast that wants to grow, wants to monetize, wants to get on the train, we're helping shows grow. Monetize the Radcast Network dot com. Check that out. Fill out that form. We'd love to help you talk about joining the network. And, hey, you want to be rubbing shoulders with Chris in those glasses. Maybe get a free pair. Come on over. Exactly. And, yeah, and, you know, before we get into the true business news, I am going to share this, and I'm going to take it down the business aisle.

Starting point is 00:07:03 It's NFL season starts this week. College football started last week. We're not going to talk much about that because Clemson got destroyed by Georgia. It wasn't a good weekend for the Tigers. But NFL starts this week. Baltimore and Kansas City. Probably a preview of playoffs. You've got two of the best quarterbacks in the league playing and squaring off, but I thought this was interesting.

Starting point is 00:07:26 This is about the business landscape report of the NFL and knowing how much business this generates, specifically with sponsorships. I thought there were some really interesting stats here. The NFL is expected to generate over $11 billion

Starting point is 00:07:41 from American broadcasters this season alone. These numbers get thrown out around a lot. I think because news and information with social media and all that is so readily available and everybody posts the big numbers, I don't know that we stop to pause to think about how much freaking money that is. It's crazy. It's a lot of hot dogs and coca-colas and budweiser's 11 billion dollars just this season we're not about

Starting point is 00:08:12 like you know 20 years 10 years just this season that's how much broadcasters will pay and that's just broadcast that's not like tickets just rights. So for them to air the games. So here's how this works, people. Let me explain the business of like media and commercials and all this stuff. So when you create a media project, something that people want to watch and has interest, kind of like this show, we want to make it interesting so that people listen and watch it so that then advertising can be sold because people are willing to listen and watch with the ads also integrated. So for the NFL, they're putting out a product, the game. They've got two elite teams. There's 32 teams in the NFL playing every week, multiple games.

Starting point is 00:09:05 And so these broadcasters are paying for the right to show that game, those games, multiple games on television with when they turn around as the network and sell ads while that's airing to recoup what they've spent. So, you know, one network might spend 200 million for, you know, to put it, Fox might, and I'm sure it's more than that for them, but some amount, and then they're selling ads across all the games that they're airing, TV commercials, audio commercials on their radio products, depending on what the engagement is. They pay for the rights to show it, and then they can fill up the airwaves in between with the commercial breaks, selling that to sponsors, Coca-Cola, Budweiser, insurance companies, all the mainstays. So that's sort of how that business works. You pay for the right to show it, then you get the rights to run commercials during it.

Starting point is 00:10:14 So $11 billion is what they spent. Peacock, which is NBC, is the newest edition. And their deal alone just for streaming is $110 million over one season. They're streaming like, I think like half a season's games or something, like one game a week or something. It's 110 million. And so like a streaming service like that is also selling ads, but they're also doing it to get more subscribers. So the game's changing a little bit with the streaming aspect because the monetization for the network that's buying the rights is changing. They're either selling ads or trying to get more people to buy the subscription. Like Amazon's been doing this last couple of years with Thursday Night Football.

Starting point is 00:10:55 And they do that because they want more people signing up for Amazon Prime Video, the premium version, and selling more Amazon, the deal that, you know, premium version and selling more Amazon, the deal that, you know, overall attribution across the brand of Amazon with the association with the NFL. And so the streaming aspect is definitely adding to different ways with which the networks can monetize by getting more subscriptions. A couple other numbers that are pretty staggering. A couple other numbers that are pretty staggering. The average price of an annual NFL sponsorship deal for this season is $39 million.

Starting point is 00:11:34 That's like if I want to sponsor one team? Yes. So I'm sponsoring or so sponsor a team. I think this combining data, sponsoring a team, the official ex of the Baltimore Ravens, or more specifically, the official beer of the NFL. So the NFL as a whole. So I'm pretty sure this is across the NFL as a whole property, the $39 million, if you want to be an official NFL insurance provider.

Starting point is 00:12:06 They have a wine now. It's one of the ones, it's like the screw off that everyone's heard of. Anyway, I forget the name. That's the official wine of the NFL, the official plumber of the, I don't know if they have that, but they have a list of categories. It's more than you'd think. The average price to get that is 39 mil. And so what does that pay for? Well, then you get to put it across all your properties. It gives you a bigger brand play. It gets you mentions on their website,

Starting point is 00:12:35 mention on their properties and things like that. So the average deal is 39 million. So if you're out there listening and some of these numbers, you're either going, wow, I had no idea it was that much money. Well, there's it's big fucking business. Number one, like huge business. And number two, if you thought you were going to sign that sponsorship deal with the NFL probably isn't happening. Sorry. Unless you want to cough up

Starting point is 00:13:00 40 mil real fast. Uh, it says the league has five deals in place that the publisher estimates to be worth over 90 million annually ea sports that's madden madden football every year has all the rights they could put all the games all the players all the teams they're spending 90 around 90 mil for the right to do that, 90 mil a year. EA Sports, Anheuser-Busch, InBev, which is essentially Budweiser, Nike, Verizon, and Microsoft, 90 million annually. That's what they're spending for their deals with the NFL. Yeah. So, yeah. The annual value of sponsorship deals that have been agreed by NFL teams is $2.4 billion. That's the individual deals that the teams are getting. Said the report estimates that the Los Angeles Rams will receive the most from sponsors across the season.

Starting point is 00:14:04 Roughly $150 million is what just the Rams are getting with their sponsor deals, like the one team. There you have it. Their title sponsorship deal is with SoFi, and it's $30 million annually. That's just for one team. So, like, if you want to be the title sponsor, like naming rights sometimes at the stadium, things like that,

Starting point is 00:14:32 for one team, let's say we're here in South Carolina. So we can talk about the Dolphins. We can talk about the Falcons. We can talk about the Panthers. So let's say you want to be the title sponsor of the Panthers, Carolina Panthers, one of the smaller market NFL teams, you're going to spend 20, 25 mil to be that title sponsor of just the one team.

Starting point is 00:14:55 A lot of money. Chris, I don't think we're going to do that vacay deal we've talked about. Not yet. Not yet. Not yet. One day. Yes. We need it. Hey, right about now, the official podcast of the NFL.

Starting point is 00:15:15 You know, that'd be awesome. But I don't know if we're going to write that check yet. Those numbers surprise you guys? I'm surprised that the Rams have that high of a deal. They're ranked like 25th. Yeah. Yeah. They're,

Starting point is 00:15:30 they haven't had the best team in a while. It's just LA, just a bigger market, more people. So exposure's higher with the media properties because it's a larger market. Yeah. You know, New York,

Starting point is 00:15:42 same way. Jets, Giants, large markets, large people. Dallas, big. So, big money happening. NFL season kicks off. Hope your fantasy teams are set.

Starting point is 00:15:58 Get your bets placed. I saw that there's going to be like $90 billion spent or gambled this year on the NFL. Something like atrocious. 90 billion spent or gambled this year on the NFL. Something like atrocious, like literally the NFL alone with all the war widespread legalization of gambling. And these are like becoming the largest businesses in the US. Like between the gambling around it and then the sponsorship and everything of it. Insane.

Starting point is 00:16:28 So NFL season starts. Hopefully your team is ready. Got Baltimore and Kansas city kicking off my homes and Lamar Jackson, two exciting quarterbacks Thursday night. Oh, in the not-so-great news, U.S. job openings declined to the lowest level since January

Starting point is 00:16:51 of 2021. Vacancies fell to 7.67 million in July, way below all estimates, and layoffs rose to nearly 1.8 mil, highest level since March of 2023. So you got layoffs rising, job openings declining.

Starting point is 00:17:13 It'll be interesting to see how many jobs are added when that report comes out. But we have a softening of the job market and fears of recession kind of still kind of bubbling out there. You know, my personal feelings, I think we'll avoid a recession, but it definitely feels like we're teetering on the, on the line pretty heavily. And a lot of these data points and a lot of the other news from this, you know, with some of the stock market stuff, I feel like I'll say this, you know, and I think we talked about this, like the job market. Like we've had a few openings and I feel like the candidates that we've talked to have been at a higher quality than the last few years.

Starting point is 00:17:57 It's felt that way. That's just anecdotal feedback. It's like maybe the, you know, the best, the most obvious, best candidates are just getting swept up like they were. I don't know. Just an observation. I think pendulum is swinging to people like post-COVID. People were kind of, you know, not really ready to go back to the workforce or, you know, kind of still doing their own thing. And then now inflation is so high that people can't afford to do their own thing anymore.

Starting point is 00:18:24 They need to come back to work. Yeah. A little bit of that. What do you think, Chris? Yeah, man. I mean, I see it down here because I think Miami is a big entrepreneurial city. You know, a lot of people trying to do their own thing. And I feel like two years ago, there was a lot of people I knew that were like doing their own thing.

Starting point is 00:18:42 And now I know people drive an Uber. So, you know, and I'm not hating on that at all. You know, I just think all the PPP money, I think there was a lot of money people were throwing around and things are tight. So even with this, I question, okay, have we lost jobs too, to maybe AI and technology? Yep. Some, maybe, but we've talked about this. I mean, when businesses aren't making money, they can't pay in police. When the cost of goods and everything else goes up, it's hard to grow your business. It's a really tight spot to be in.

Starting point is 00:19:18 Yeah. It just feels, I don't know. I always say I hate the focus focus group of one and then I go ahead and give it to you but hey it's our opinion it's our show we're giving it to you I didn't buzz the feel the sentiment you know being a an entrepreneur and owning multiple businesses you sort of get a pulse of how things yeah the vibe is not good right now. The vibe's a little off. There's segments of our business that are doing great, but then there's just enough sentiment, though, as an overall vibe that it feels a little off.

Starting point is 00:20:01 And the jobs thing, again, I do feel like putting some, the job listings and things out there, I think the volume of candidates, things like that signals, there's more people out there looking at that weren't in the market a couple of years ago. I think some of the more like cushy jobs are facing layoffs, you know, and people are being laid off. I've seen quite a few posts recently, you know, just on Facebook of people being laid off from their jobs and definitely just seeing kind of like a slow down pre-election in the economy. Um, you know, there's stuff going on

Starting point is 00:20:36 with different businesses, people being laid off, uh, buying slowing way down, real estate is slowed way down. So it's definitely a really interesting time ahead of this election. Yeah, real estate's definitely slowed down. I don't know that we have an article on today, but everything I've read with it slowing down. House prices actually coming down a little bit, which is not a terrible thing, depending on the market. Not here in downtown Greenville, I can tell you that.

Starting point is 00:21:01 But everywhere else, maybe. Not here. Condos and apartments are going down i mean the big developments i mean you have stuff being left half built right now like 100 million dollar projects even multi-million dollar homes on the beach that people are trying to sell mid-construction so there's you can see it even in a city like miami where there's a lot of money you know you can see even the big money people pulling back right now. Yeah.

Starting point is 00:21:27 I think what they might need is a stimulus, a brand stimulus. That is branded bills. You need stimulus for your brand? You go to brandedbills.com. I'm telling you, I'm rocking my social house hat today. I pulled this one out of the old archives. You know, we run social house here in G Vegas. You do come see us best event and coworking space in Greenville, but I've got our

Starting point is 00:21:50 social house logo on this leather patch. I'm telling you the dimension everybody sees it. Hey, that's pretty cool, man. I'm like, I know I got the stimulus package for the brand at brain of bills.com. You go there, hit that custom button. You get that design team working on your logo. They're going to give you some patches, some new designs, new ways to think about how to bring your logo to life on hoodies. Look, it was a little chilly in G Vegas this morning. I kind of like, oh, where's my hoodie? Oh, there it is. My right about now hoodie. Got the brand on there. Hoodies, T-shirts, hats, beanies. Telling you, this is what gets your brand kicking.

Starting point is 00:22:29 You send that to a prospect, your business. Hey, they're going to go, number one, this company knows quality. And number two, it'll be something they actually wear. Because that's part of the problem. You give out all this merch, people are like, this crappy $2 hat or this sweatshirt that's falling apart after the first wash and dry or shrinks down to a Smedium. That XL going to a Smedium ain't no good, Chris.

Starting point is 00:22:54 We cannot have any Smediums. You can't be sending that to your prospects, get people wearing that. You got that employee behind the counter, he's got that Smedium on. Let's be honest, he didn't need to wear that Smedium. You got that employee behind the counter. He's got that medium on. And, you know, let's be honest. He didn't need to wear that medium. We need that brand kicking.

Starting point is 00:23:11 Brandofbills.com, their official merchandise sponsor and the brand stimulus package that you need. Go there, check them out. Hit that custom button. You'll thank us for it. We love them, the official merchandise sponsor of Right About Now. So, other things. Lawmakers approved legislations to ban deep fakes and protect workers to regulate AI.

Starting point is 00:23:34 This is coming to us from our good friends at ABC News. California legislation approved a series of bills aimed at regulating the AI industry, combating deep fakes, and protecting workers from AI-related exploitation. I mean, that kind of sounds like not a bad thing. I wouldn't mind a little AI-related exploiting. Just kidding. These bills now await the signature of Governor Gavin.

Starting point is 00:24:03 That's what I just want to call him. He's the GOV Gavin, who has until September 30th to act or not act. Lawmakers pass legislation banning deepfakes related to elections requiring large social media platforms to remove deceptive content before and after election day. There's a lot of words in this article. Deceptive content. I don't know. They kind of ring off. Look, here's the deal.

Starting point is 00:24:36 The defects are getting pretty scary, how real they look. Like, almost the only way you kind of know that they're fake is like, sometimes you're like, okay, there's no way that really happened. But like, but these have, people are starting to do such outrageous things. When did we cross this line where we don't know,

Starting point is 00:24:53 you know what it is? You can't tell like some of them. The only way I could tell is like the eyes, the eyes look dead. If it's AI. Yeah. Have you seen some of these newest ones, Chris?

Starting point is 00:25:04 Yeah, man, they're all over. I mean, I saw a really funny one. If it's AI. Yeah. Have you seen some of these newest ones, Chris? Yeah, man. They're all over. I mean, I saw a really funny one. It was Elon Musk and Trump going to the jungle to do ayahuasca together. And I was like, this is wild. Who ever wrote this storyline? Did it look real or was it obviously hokey?

Starting point is 00:25:20 No, dude. It was so hokey. It was so funny. I mean, but it was shocking. You know what I mean? I mean, I mostly have been seeing all these AI pictures of like Kamala and Trump where like Kamala's pregnant and Trump's like standing next to her like hugging her, which very clearly is fake.

Starting point is 00:25:38 But no, I think some of this bill of what it talks about, you know, like you can't clone deceased people without their consent that makes sense to me and then even the call centers like stop firing real humans and replacing with ai i can get behind that you know yeah i mean it's interesting i will say yeah fighting at some point like with these voice actors you know i have friends in hollywood we made a movie out there even two weeks ago they were telling me about all this stuff going on. And it's like, okay, you're a voice actor and you're striking because you don't want them to use AI. I'm sorry, it's a business.

Starting point is 00:26:12 They're going to use AI because it's cheaper. Yeah. Like, I don't know what to tell you. I don't know how you're going to avoid this. I mean, it says state and local agencies will be banned from using AI to replace workers at call centers under one of the proposals. It will also create penalties for digitally cloning dead people without consent of their estates. I mean, I could sort of get behind that one. Yeah, yeah, yeah.

Starting point is 00:26:37 I mean, I'll joke aside, but it's like digital cloning legislation. I mean, it's just... What a time to be alive. What a time just what a time to be alive what a time what a time to be alive i don't know how you're gonna fight the using ai to do work that is more efficient eventually it's like fighting the internet like good luck but it is cal California, so they will try. Yes. It said the legislation set by lawmakers to the governor's desk requires developers to start disclosing what data they use to train their models. I mean, this goes back to, you know, I've talked about this before. It's like you got it. If they're going to do this this again you can't fight the technology

Starting point is 00:27:25 but they at least got to pay for where the source of the data comes from and you're seeing that more with like the data deals and like that's the problem too is we all opt in and agree to give our data every time all these apps and stuff we're not reading the terms and service agreements yeah well exactly we might be like giving them a green light. Signing your life away. Yeah, exactly. To clone me when I'm dead. Digitally cloning. I loved that old Arnold Schwarzenegger movie.

Starting point is 00:27:56 Did you guys ever see that one about the cloning? Like the Terminator? No, it was like the sixth. It was called The Sixth Day. I've heard. I remember it. Maybe. I've it, yeah. Maybe.

Starting point is 00:28:07 I've seen a lot of things. I had an older brother, and we only had a couple VHS tapes growing up. So it was on repeat. Yeah. What's the show that was on HBO? I mean, that's the biggest thing. West World. West World.

Starting point is 00:28:23 That show was wild. It was a good show, but it's like, we're not far from that. You know, like with these, the robots, like Elon's got the robots being made to look and act more and more normal and other providers. And then when you can put in the,

Starting point is 00:28:39 the engine slash the brain of these things being AI, it, it used to just know like that felt really far away. That feels like any moment away, right? Yeah, yeah. I feel like you're going to get, you know, you're going to see the videos of them having one in a room and you not knowing it or something. Yeah.

Starting point is 00:29:04 And then telling you, you know, who's the robot in the room. you not knowing it or something. Yeah. And then, then telling you that, or, you know, who's the robot in the room. I don't like it. We're going to have scanners on our phones to tell us like, who's the,

Starting point is 00:29:15 who's robot and who's not like, who's got blood pumping through their brain. And I didn't even think they had that in like Westworld to a degree. It's like, do, do, do, do, do, do, do, do. Look out. It's coming.

Starting point is 00:29:33 Again, you know, you have to know my humor and my cynicism just so in case you're a first-time listener or a watcher. I laugh at things that made it up because it's just sort of the irony of it in today's, and, like, it doesn't mean I don't take it seriously, but this Chase thing, you know, it makes me laugh, because on one hand, one, I don't, I don't want any bank or company getting

Starting point is 00:29:57 defrauded, so it's not that that's funny. It's more like the naivety of, like, the kids or people that are doing this, like, that somehow're not going to get in trouble for it. Anyway, jumping to the article, Chase warns against using system glitch to filch cash. It's fraud. Plain and simple, they say. No shit. So there's a viral trend on TikTok, which one of millions, right? So there's a viral trend on TikTok, which one of millions, right? On Monday, Chase Bank issued a warning regarding a viral TikTok trend where users purportedly attempted to exploit a system glitch

Starting point is 00:30:34 to withdraw more money than they had in their accounts. The trend involved depositing fraudulent checks and quickly withdrawing the funds before the checks could bounce. It's called check hiding. Go watch Catch Me If You Can. Great movie. Great movie. But it's somehow like these things,

Starting point is 00:30:55 videos on TikTok showed users celebrating their withdrawals often throwing cash in the air. Some videos also depicted the aftermath with participants upset after seeing large negative balances in the air. Some videos also depicted the aftermath with participants upset for seeing large negative balances in their accounts. Once the fraudulent checks were returned, like what did you think was going to happen? I just love that.

Starting point is 00:31:13 Like, like how to commit fraud is a trend on TikTok. Like, and you can't tell me that, and you can't tell me that the TikTok algorithm wasn't alerted about this, right? Like, why was this not, why did this go viral? Yeah. You know?

Starting point is 00:31:32 What a time to be alive to commit crime and fraud and then celebrate it. And then also videotape yourself aftermath, right? Yeah. It all comes crumbling down. I mean, again, the naivety of like the digital crime, not be like, there's some like form of digital here that they think they're getting away with. But like, this is the equivalent of like me

Starting point is 00:31:50 filming myself going and shoplifting, you know, at the grocery store. And, you know, like walking out with groceries underneath my shirt and then going, look at this new trick. Yeah, I just robbed the store with a pack of steaks, baked potatoes and a salad. And then filming yourself crying.

Starting point is 00:32:06 You can do this too. It's a new trend. And then updating it by filming yourself crying while you're being arrested and being like, what? This is wrong? Like, right? Follow my trend.

Starting point is 00:32:20 Exactly. Free dinner trend. Yeah. I went into Best Buy and I walked out with this big screen TV underneath my dress, you know, like what? Anyway, I don't mean, you don't want to be the, I don't be the old guy going, are kids this stupid? You know what it's like? I was just about to say that. Like as technology advances, brain capacity shrinking. This was from, you know brain capacity shrinking this was from uh you

Starting point is 00:32:47 know chase this is their response regardless of what you see online depositing a fraudulent check and withdrawing the funds from your account is fraud plain and simple. Did we have to really tell them that? Dave just thought it was a glitch, bro. Just a glitch, man. It wasn't fraud. Yeah. NVIDIA's $279 billion wipeout, the biggest in US history, drags

Starting point is 00:33:20 down global chip stocks. So, on Wednesday, the largest drop. We seem to break a lot of records, one way or the other. For good, bad, or indifferent, the example I gave of the house I sold

Starting point is 00:33:36 that's like 300% up, these swings, both in the good and the bad, we just seem to break records at a pace that seems faster than it used to be. It's like, you know, 279 bill just wiped out one day. Okay. And we're just kind of numb to it, you know?

Starting point is 00:33:59 Like, yeah, the average, I don't know, whether they're 30-year-olds or 50-year-olds, I don't know if that're 30-year-olds or 50-year-olds, I don't know if that has anything to do with it, but your average newsreader just sees that and is like, man, bad day for them, flips the page. Yeah. Like, they'll get it back tomorrow, right? I mean, and you might not be wrong.

Starting point is 00:34:25 Like, that's just the insanity of some of these swings that are hard to sort of, when you really want to think about what it takes for that to happen, the amount of money, how long it would take to make that amount of money. It's... $79 million. It reminds me back to

Starting point is 00:34:40 Dumb and Dumber. He's like, that's 139 mil. That the ferrari you might want to hold on to that one the ious yeah like they've got the case of money with like a billion dollars in it and uh they they spin it all but they put ious papers in it like that's 179 thou you only want to hold on to that one that That's for the Ferrari. Like, yeah. $279,000 bill. Wiped out.

Starting point is 00:35:08 That's what's going to hurt a little bit. There's a Band-Aid. Hope you put some Neosport on. It'll make it feel better. Anyway, Nvidia shares plunged over 9% during trading, regular trading. It continued to slide. Economic data released on Tuesday sparked renewed concerns about the U.S. economy, contributing to the broader market sell-off. They were also subpoenaed by the U.S.

Starting point is 00:35:32 The video was subpoenaed by the U.S. Department of Justice as part of the antitrust investigation, further weighing on the stock. Yeah. I mean, the previous record was held by Meta, which lost $232 billion in value on a single day in February of 2022. You have any Nvidia stock there, Chris? No, I pulled everything out of the market. I'm crypto. That took a hit too. Has it taken a hit this week? Yeah, I went down with this, but everything everything out of the market. I'm crypto. That took a hit, too. Had it taken a hit this week?

Starting point is 00:36:06 Yeah, it went down with this, but everything's kind of, it's only down 1% for the week today. So it kind of bounced back up just like it appears the market did. I have some NVIDIA, I won't lie. It's a good stock. It is a good stock. It's still up from where it was. It's like up 10x from like the last few years.

Starting point is 00:36:26 But still a lot of damn money. Well, and even when I see this news, I'm like, all right. But we know like microchips aren't going anywhere. No, that's exactly. Like if there's one stock that, you know, that's kind of the point is like they wiped this off, but it's like they're still up, number one. And number two, every single thing that's like growing now, AI, technology, computing, is fueled by things that this company makes.

Starting point is 00:36:54 Yes. So, it's like, what does this data, and that's where it's for me, like, what does this data point really encapsulate then? That's where it's for me. Like, what does this data point really encapsulate then? Because their core business, this is sort of the emotional swings that are driving like the economy now. That really have nothing to do with core fundamentals of business. It's kind of back to the meme stocks or the meme coins, you know, like they have no real value. But because they got popular for a minute, they went up to values that had no real justification other than the insanity of the popularity that they get

Starting point is 00:37:34 because it just takes on a life of itself. And so this is kind of the same thing. It's just a sentiment. You get this really fast sell-off. So it causes this cap valuation to go down. But the business fundamentals, if you go look at their revenue in, you get this really fast sell-off. So it causes this cap valuation to go down. But the business fundamentals, if you go look at like their revenue in, cash flow, everything,

Starting point is 00:37:52 there is nothing in their business that really, you know, yeah, I get that going in front of Congress and all that and having to answer for some things, that these matters, I'm not going to say it doesn't, but the core fundamentals of their business are still sound and i would say okay going from the congress just like meta did right where it's almost too big of a beast to tame we we need nvidia we want yeah we want to be their preferred partner over china or yes whatever major superpower so it's kind of like like you said people are reacting to the news they're buying the news they're selling selling the news. It's all emotional.

Starting point is 00:38:26 Yeah. And I think it's more the economy as a whole, but not this. Because I can tell you, even if the economy as a whole went into the tank and all dropped, NVIDIA, their sales are only going to slump by so much and probably none at all because of the technologies and the advancements that all of the companies are doing that leverage exactly what they create. So sentiment, mood drives a lot of behavior that then creates these swings. And I'll say this, we say we take the BS out of business. So just think about that. When you feel like you're being swayed or done to think a certain way, it creates these mood swings and this sentiment that has real monetary impact

Starting point is 00:39:22 for someone or something. So just remember that. The moment you don't think you're on the string being played, that's the moment you're in trouble because we're all being played a little bit. Just saying. Chris, I'm back there behind you holding your string up, you know? I know, I know. I'm going to get you dancing. I'm going to behind you holding your string up, you know? I know. I know. I'm going to get you dancing.

Starting point is 00:39:46 Like, I'm going to put one in. Here we get Chris dancing on the show. Yeah. No. But that's what it is, right? It's like we're being, and the scary thing is when you don't know what's happening. Mm. Hmm.

Starting point is 00:40:03 Hmm. I think that kind of ties into you know our next article on censorship it's really interesting ahead of this election like how many ways we are getting pulled you know as Americans as a worldwide

Starting point is 00:40:17 you know organization of people how many ways that we're being swayed through the media and we don't even know it why don't you talk to us about this media and we don't even know it. Why don't you talk to us about this article then? Why don't you go there, Brianna? All right.

Starting point is 00:40:30 You teed it up. Let's go. So I teed it up on our next article. The first day without X. Many Brazilians say that they feel disconnected from the world. So this article is coming to us from usnews.com. So this article is coming to us from usnews.com. And in this article, Brazil blocked access to Elon Musk's social media platform X after Musk refused to appoint a legal representative in the country. the action stemmed from a prolonged dispute between Musk and the Supreme Court justice over issues like free speech, misinformation and far right accounts,

Starting point is 00:41:10 which is quite interesting. You know, whatever's going on in Brazil is like, like scary. Like if you're going to be like, we have 85% US.S. audience. And so most people are listening are in the U.S. But damn, thankful you're born in here in the U.S.

Starting point is 00:41:32 It ain't perfect, but what all is going on in Brazil is scary. And blocking an entire social platform, you know, is in having the power to do so. platform, you know, is in having the power to do so, then that the, the, the exact opposite of democracy, I think. I feel like they're going through what we went through in like 2020, where we had Twitter still, but it was so overly censored, very biased. You know, we've got meta now, Mark Zuckerberg publicly admitting to censoring stuff on meta, but even here where it's saying they want to go after people using VPNs, you know, where you can kind of cloak what country you're searching internet from.

Starting point is 00:42:14 And I've traveled the world. I've been in countries that have certain, you know, restrictions. Dubai being one of them, you know, had a censored internet. And it's honestly insane for me to think that depending where i am in the world what i'm seeing is completely different based on that country's political ideologies motivations as far as i'm concerned anywhere in the world that you're getting restricted from access to free information it's just tyranny yeah i mean it feels like total, like, not to make Stalin, Hitler, like, total, like, takeover. Authoritarian.

Starting point is 00:42:50 It's authoritarian, absolutely. Yeah. You control information, you control people's mind, and it's game over. I just don't think that that genie could go back in the bottle. Like, this ain't going to last, right? It's just people just aren't gonna stand for it you know i don't know if we were just that naive 100 100 years ago whenever you know a lot of these things existed i think it the people just aren't gonna stand for

Starting point is 00:43:15 it i wouldn't think eventually it's good this is gonna i mean it's already coming to a head but like and when they did it here people moved to other platforms you know i saw a huge insurgence in telegram for example when Twitter was being censored. And, you know, like this article says, they got people migrating to other platforms. Yeah. I don't know. I feel like Musk can beat this. Yeah, I feel like it will eventually work itself out.

Starting point is 00:43:42 But how could you feel comfortable doing any kind of business in Brazil? No, and it's very interesting timing, you know, because we're pretty close to the election. eventually work itself out, but how could you feel comfortable doing any kind of business in Brazil? No, and it's very interesting timing, you know, because we're pretty close to the election. And it was interesting in this article, the way that it was written to specifically the issues are free speech, misinformation, and far right accounts. It's just interesting to me. They're not getting riled up and blocking twitter or x over far left accounts no exactly it only it typically seems only work one direction yeah let's call a spade a spade oh what's what's left today brianna what's this what's's last on our list? I think we've got time for one more. What do you think?

Starting point is 00:44:27 Well, we did talk about Disney last week and some of the stuff that was going on with Disney. And let's finish it out with some football. There we go. We need to talk DirecTV blackouts. Yeah. The U.S. Open and college football coverage pulled for millions of DirecTV customers

Starting point is 00:44:43 over carriage disputes with Disney. Millions of DirecTV subscribers were unable to watch major sporting events, including the U.S. Open. Due to this dispute, Disney Entertainment, including ESPN, went dark during the U.S. Open after two companies failed to reach a new agreement, leaving fans unable to watch key matches, including the fourth round matchup between two prominent players, blackout occurred just 30 minutes before a couple of the other matches. Blackout also affected college football fans with the LSU-USC season opener. Dizzy executives criticized DirecTV for denying subscribers access

Starting point is 00:45:23 during major sporting events and emphasized their refusal to undervalue their content. DirecTV accused Disney of pursuing maximum profits at the expense of consumers and claimed Disney demanded the waiver of future legal claims in exchange for an extension. The second consecutive year, SPN has gone off the air due to major carrier dispute. Similar issue with Spectrum happened last year. They had it resolved before the NFL season started. So, I mean, you have these disputes where you come down to the end

Starting point is 00:45:56 of the contract, you know, trying to get signed. Both parties want. You got the lawyers just standing holding firm, like saying, screw all these, screw everyone that wants to watch these games. Yep. Deal's not done, boys. No. Like, God, bro.

Starting point is 00:46:10 Talk about pride and ego and money. Money. Business of football and sports. And it's hard to know who's right and wrong here. They're both like lobbying. They couldn't figure this out prior to 10 minutes before kickoff. Well, that's the thing. Here's what happens.

Starting point is 00:46:29 It's just kind of like the equivalent, you know, when the government shutdown's coming, it gets down to the last. Yeah. None of them want the repercussions of the people that have to experience and what they end up like, you know, coming after their heads. Like, you can't do this. Government can't be shut down. Then all these departments don't work

Starting point is 00:46:47 and banks aren't running or things aren't transacting. The same thing here. They get down to it to where it actually takes it off the air and then both sides get inundated, all their customer service, all their people, like, why is this off? You know, like, off with their heads. I'm canceling everything.

Starting point is 00:47:06 Wait, wait, wait. Okay. We're going to get the deal. You get there on the phone with a lawyer going, all right, we'll get, we'll concede there. We won't compete here. All right. Well, we got to do to make this happen. I mean, you can see it behind happening behind closed doors. And it's like, can we not just make, you know, but nobody wanted to give an inch until that moment until their, their customer service departments were so overloaded that they feared what they thought they were preventing or the profit that they thought they were gaining ends up going out the other end of the door. Exactly. Exactly. I mean, they're going to lose, lose either way. They should have just signed it. Yeah. So there you have it.

Starting point is 00:47:43 Yeah, so there you have it. That's your business news of the week, my friends. Stay safe out there and get some football on. It's a good, at least for me, a good release from work and all the bullshit. You kind of just melt into the game a little bit and the couch. I like melting into the couch. Watching a little bit and, and the couch. I like melting into the couch, watching a little football. Any final thoughts,

Starting point is 00:48:10 Chris? Everybody have a great weekend. September's here. We're going fast. Yes. Yes. Brianna. Don't believe everything you see on Tik TOK.

Starting point is 00:48:23 Yes. Or the news. Or do it. Yeah. Don't believe it all. Or you could believe it, but just believe that it might not be legal. It might get you in trouble. Maybe Google it before you try it. Don't commit any check fraud this week, guys.

Starting point is 00:48:36 Yeah. No Rob talk. It is illegal. Yeah. Fraud talk. Whatever it is. The glitch is also a felony. Okay. So don't do that. Yes. Fraud talk, whatever it is. The glitch is also a felony, okay?

Starting point is 00:48:45 So don't do that. Yes. Go give her some love over there on YouTube. Subscribe. Check out the videos, all the shorts, the highlight reels. We got all long form and short form content over there. And always at RyanIsRight.com. Tell someone, tell somebody you love about the show.

Starting point is 00:49:03 Tell them to subscribe. We appreciate you. Thanks to all our sponsors. We'll see you next time on Right About Now. This has been Right About Now with Ryan Alford, a Radcast Network production.

Starting point is 00:49:15 Visit ryanisright.com for full audio and video versions of the show or to inquire about sponsorship opportunities. Thanks for listening.

Right About Now with Ryan Alford - Chase Bank TikTok Trend Exposes Alarming Rise in Check Fraud – What You Need to Know!

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