The Ben and Emil Show - BAES 60: The infinite money glitch that's crashing the market

Episode Date: August 8, 2024

Time to panic? The market has dropped a ton and everyone's starting to freak and talk all doom and gloom. But what's behind it? What the heck is going ON? Don't worry, because we've got you covered. PLUS, we're talking the FRIEND AI pendant, and RFK Jr being a weird weirdo. Leave a comment to be featured as the comment of the week next week! And also, like this video, please! Thank you! Head to https://benandemilshow.com for this week's bonus episode and to support the show! :) **PLEASE DONATE TO CEM!! https://www.gofundme.com/f/help-cem-buy-a-car __ MOOMOO: Click this link https://j.moomoo.com/BAES to get up to 15 free stocks from moomoo U.S when you make a qualified deposit + earn 5.1% APY on uninvested cash + an additional 3% APY Coupon for 3 months for new users!! Terms & Conditions Apply. 5.1% APY as of 11/3/23 and subject to change. More info at https://www.moomoo.com/us/support/topic4_410 Options trading is risky and not appropriate for everyone. Read the Options Disclosure Document before trading. http://j.us.moomoo.com/00xBBz MEUNDIES: Summer is here! Be prepared with MeUndies. Get 20% off your first order, plus free shipping, at https://meundies.com/baes SHOPIFY: We're sponsored by SHOPIFY! Sign up for a ONE DOLLAR PER MONTH trial period at https://shopify.com/baes __ This episode (and every episode) was masterfully edited by Dillon Moore. Check him out at https://www.dillonmoore.co and @ dillonmoore on IG Follow us on instagram! @ benandemilshow @ bencahn @ emilderosa and @ dillonmoore Learn more about your ad choices. Visit podcastchoices.com/adchoices

Hey, and welcome back. It's the Ben and the haircut show. No, no, now we get to, now we get to, oh, you don't like it when the tables are proverbially turned. There's no table to be turned. I was being very nice. I noticed that your hair has been cut and also cleaned. You shampooed it. I got everyone to comment on your nice shirts, which I almost wore one.

I'm not saying it's a bad thing. I almost wore one this week. And I said, no, that's Ben's whole thing. I'll let him do his whole thing. My mom texted me and was like, it's nice to see you not wearing. t-shirts all the time great sorry mrs con no she doesn't care she didn't care about you not wearing t-shirt you he he this guy is always got to check the label you got to know what it is working with what is it let's gate keep it okay if you like ben's shirt too bad what it is it's old it's outdated

it's from the previous season of this show uh i'm sleepy weepy today it's a good color on you thanks i'm sleepy weepy today so no he's not he's jacked out don't don't don't get jacked up I'm going to get checked up. Don't give him any... Don't give him any... Oh, okay, now I'm popped. He's fucking back, baby. Okay, it's all working its way through my system now.

I've got the Yerba mater. We got a banger of an episode. We're going to be talking about the market crashing and why. We are going to tell you why. And you are going to sound so smart to your friends because you're going to understand exactly why. Or you might sound dumb.

Or you might sound like a big dumb, but not when we're done with you. Because your friends might have a whole different perspective on why it happened. They'd go, you idiot, that's why you think it happened? Yeah. And then you could. So, buyer beware. Yeah, do what you will with that.

And we'll also have a little bit of talking about that friend AI. Oh, we've got to talk about the friend AI. What do you mean? Doc, you know, my F.K. Jr. in the Central Park Bear. He just doesn't stop. Let's get into some comments of the week. Yeah, let's get it. We got a heavy, heavy, dense episode.

We got one of my favorites. so this one uh first one comes from mr pringleson mr pringleson says my girlfriend saw my watching this and asked who those cute lesbians are okay well first off nepotism kid obviously oh because he's mr pringle's son yeah uh this one's uh i like this one from evy was here i wish they would open their heart chakras before the show they're always so closed down Tell us how to do it. Don't just, I don't know how to open my heart chakra. You, like, I don't know.

Whatever, consider them open. Yeah. And then this one comes from the Ben and Emile show.com app. This is the real comment of the week. Those others were a warm up. This is from Nevehizelak. Nevehijalak. If I had to describe you to a bunch of women,

I would say Emil shows up to a hookup, with full I would say Emil shows up to a hookup with full but respectfully trimmed bush

and Ben shows up completely shaved derogatory and is proud of himself I mean when I saw that on the app

I was like oh that came that was like right after the show dropped and I was like oh man just wrap it up we already got a winner

yeah that one really I think you texted me right as I was about to text you or something but yeah if you want to join

those little freaks Ben andamilshow dot com. There's a very fun community of very funny people. Yeah, I just love the derogatory is in parentheses. And by the way, for the record, I have never fully shaved.

By the way, for the record, you were completely accurate about Ben. Yeah. Oh, I thought you were going to say about yourself. No, Ben. No, how would you know? You tell me. I don't tell that. I say, how'd the date go? And you say, good, completely bald. And I say her and you go, no, me. I couldn't imagine that. It'd be too weird. It'd be

like being a little boy again. I don't need that shit. All right. I don't need that stress in my life, feeling a little boy. The camera's on, and he's telling different stories. No, but I keep it respectful, okay? So why am I doing this? What?

I'm talking about this. I'm working down town with me, tell me what's going on. Tell me what's going on. So isn't you not too bad in me? Tell me what's going on. Tell me what's gone on. All right, before we get into it, I have a little story to tell, and I humbly ask you to listen.

So this weekend I went to visit my friend Tony for his welcoming back. He was in Hawaii for shooting a documentary. But I gave my friend Jim a ride, and he told me this insane. insanely insane frustrating story about how basically a few months ago he was coming home late at night from work and he got into the left turn lane to turn left down the street and there was a gang of like what would you call them they're not motorcycles those little scooter things I've seen it like yeah yeah there's like huge groups of them in LA huge groups of them in LA and this one guy was popping a wheelie and not paying attention and going on the wrong side of the road

crashes into his car goes like head over the handlebars and you know he wasn't that injured but Jim got out checked on him helped him up some of the other guys were just pulling up because this guy was like the leader of the pack and then one guy just decided to throw a punch and they all just swarmed him and beat the shit out of him broke a couple ribs but then on top of that they started throwing rocks at his car and broke all his windows and stole his phone and and stole a bunch of shit from his car. Cops came, they all fled. The paramedics insisted that he go to the hospital,

so the cops had his car towed, and his car was sitting in the impound lot when it started to rain, and because his windows were broken, it completely ruined the interior of his car. And then now, the impound lot, famously, as they do here in Los Angeles, charged like $500 a day.

So they want, they capped it like three or four grand, just to get his car out, but then his shitty GEICO insurance is like, yeah, but we're not going to cover any of that because it wasn't the result of the accident itself. Anyway, this guy's great. He's here on Asylum from Turkey. He's got a crazy story,

and I started to go-fund me for him so he could buy a new car, and we're already almost a fifth of the way there, and I'll put the link in the description. So please, if you are so inclined, chip in a few, there's enough people here where if everybody gave a dollar or something and get them a new car i really want that to happen thank you for listening okay let's get into the comedy now let's do the comedy

now uh okay man amiel how about this what how about this uh stock market crash huh how about it you know that it's getting bad when they're talking about when i start texting and say should i should i buy more index funds not that but when they when they're talking about it on talk radio And it's like a, it's usually for me an indicator that things are about to turn in the opposite direction. But I don't know if that's the case this time. I think it's going to keep potentially dropping. But okay. Let's explain.

So there were several reasons why the market dropped precipitously. Reason number one, last week, unemployment ticked up. And the Fed maintained and did not cut interest rates, which kind of spooked a lot of people. Which I told you they were going to do. you went, really? That they were going to maintain? What? Because Nick Tim Maros telegraphed?

No. You just knew? Just me and, uh... Jay pal? Jay pal. We call each other. We talk. Yeah.

And then number two, you had the Japanese stock. Now, this is... Boy, if you're not Japanese, give yourself a little pat on the back right now because they, uh... I wouldn't say that. They had a bad... They had a bad couple days.

They had a bad couple weeks. Their major index is called the NICA, and it sold off 12% early Monday, and it was the biggest sell-off there since 1987 for their fifth straight red week down off of a three-day sell-off of 22%. So in three days, their whole shit got rocked by 22%. That's not good. So why did that happen? Well, several reasons that we will get into.

Number one, the weakening U.S. economic data spooked them. but also, and this is the big one, the Bank of Japan hiked their rates and the yen went up, like 3%, I believe, and we will talk about that. But before we get into that... For the first time in a very long time. Very, very long time.

Then the MSCI Asia market, which is another big one, erased all of their 2024 gains. South Korea dropped 9%. And then on top of that shit sandwich, the little doo-do sprinkle on top, you had news hitting over the weekend that Warren Buffett

you guys know everybody knows who he is he sold half of his apple steak which is usually not good Yeah when a big guy like that When a great big guy like that

sells some of his precious apple But now Berkshire Hathaway has 277 billion dollars in cash just sitting there ready to invest And people are speculating

that he sees like Wait, so tell me one thing. Did you make a lot of money off this? I made a good amount. I was properly hedged, not as hedged as I would have liked to have been. Definitely had some wild fluctuations. But yesterday I was in the green. Today I am in the red.

Oh, and real fast. Part of the reason why Berkshire had a good quarter this last quarter was from Guyco. Fuck you, Geico. Get Jem's car out of the impound lot. Thank you very much. Wow. Okay. And then, so more of the, the, now we've got, so we had the shit sprinkles on top of the shit sandwich. Now we've got shit truffle oil or something, truffle shavings.

If it was oil, you just pour it, you wouldn't have to. That's true. So maybe it's shavings, I guess. Or salt bay. It's like the shit salt bay and he's sprinkling do-do flakes. Second quarter earnings, disappointed because they all had high expectations. You had Microsoft and Google sold off after reporting. The McDonald's CEO came out. and said that they've been seeing a slowdown in visits from low-income customers.

How do they know who's low-income or not? Oh, you can just tell when they walk in. Could describe, what do they look like? No, I won't do it. I'll leave that up to the McDonald's board members. Or they're coming in in like old cars, old beat-up pieces of shit. Oh, we got another low-income. Maybe it's just by their menu.

Imagine walking up to the counter? You place an order and they're like, we got another low income. And you're like, let the boss know, put a tally on the low income work. Then Amazon dropped 8.8% Friday reporting weaker revenue growth, which really fast. Weaker revenue growth, you know how much revenue they pulled in last quarter? How much? Like, I don't, I want to say a hundred and a hundred. He asked the rhetorical question.

I want to say it's either 120 something or 150 something billion dollars in revenue. in a single fucking quarter that's just that's ridiculous and then okay so there's obviously there's a lot of shit going on here guys then you had intel dropping 26% last week which was its worst day since 1985 and going absolutely nut nut and like laying off 15% of their workforce like 15000 people and then the guy is like tweeting scripture out like this dude is seeing end days he tweeted he tweeted i got it right here he tweeted a bible quote let your eyes let your eyes let you look straight ahead. Fix your gaze directly before you. Give careful thought to the paths for your feet and be steadfast in all your ways. Proverbs 425. When your CEO starts tweeting out

scripture, it's time to maybe get on LinkedIn, start sending out some resumes. Hashtag open to work. Someone had a great, they quote tweeted it and said, I'm new to stocks. Is it good when a CEO starts breaks? Jesus Christ. Hey gang, we're taking a quick break. We want to thank a sponsor of today's show. You've heard us talking about them quite a few times, but I want to give you a little bit more in depth on why we talk about Moomu so much, and it's because there's a lot of options out there for investment apps, and there's a good reason why we like Moomu. Not only because our beloved Glenn is a big Moomoo head, and we are Glenn heads. Shout out Glenn heads. We love Glenn.

We haven't talked, I've got to talk to Glenn. Anyway, Mumu is pretty much head and shoulders above the rest and it's because they've just got they just got the data man they got the data they got the functionality they got the features they they've got uh unlike other platforms moomoo really gives a much better in-depth look at stocks ets and options which helps me make more informed decisions not only in investing but in just my day-to-day trading and uh if you're just It's for everybody. It's not just for people like me. My mom is using it.

She's got it set up. It's for every level, beginner to expert. So take it from me, folks. It comes highly recommended. And my partner here, Emil, is going to tell you why you should sign up. Not only for that, but for the hefty sign-up bonus that you get when you sign up. Look here, you're going to want to click that link in the description so you can jumpstart your investing journey today with up to 15 free stocks upon making a qualified deposit and if you aren't quite ready to start investing, MoMoo is also giving new users

8.1% APY for a limited time on your uninvested cash while you plan your first trade. Boy, is it hot in here? It's about to get even hotter, pal. Plus, if you're already a trader and want to graduate to a more sophisticated platform, transfer your portfolio to Moomoo and earn up to $300 in cash rewards. So make sure to click the link in the description and sign up to take advantage of these awesome promos and experience a better platform we like it a cash rewards uh but they were saying that they're struggling to see benefits from ai shit just yet oh you know who had a really you and a whole lot of people actually yeah yeah um you know who what ceo had a great tweet is the the uh the ceo of rc i hospitality holdings like ricks cabaret i think it's called

um he said uh strip clubs open at 11 am why torture yourself with the market just go get a drink and a lap dance that's one way to handle it that's one way to handle it okay so this is market dynamics at work everybody just a few months ago was all about AI AI it's going to revolutionize this and that and nothing's ever going to go down and it's here to stay and um and video is just going to keep rocketing up and video's just going to keep rocking up I got a pit in my stomach because I talked to my uncle last week and he's like, I bought some invidia. And you're like, it's all over.

I was like, no, Uncle Jeff, what are you? I didn't say this, but I was like, what are you doing, buying it now? And that's, it's just, it's a surefire sign. It's usually a sign like that. I got to call Vanguard. Holy shit. But so now suddenly there's a quote, I forgot who says it. There's this woman on Twitter who says, there's nothing like,

price to change sentiment which means just what it sounds like like prices start dropping and then the sentiment around the current narrative being AI starts to suddenly totally shift and now everybody's thinking oh shit we may have been out over our skis a little bit and it's not so good everybody you know we've all been kind of it is also very funny though the you know we were we were talking about some of those it was like a couple weeks ago goldman sachs was putting out some of those uh analysis and even the most bearish guy was saying, but we're talking a year, a year and a half, before any of this starts to really see any impact.

Ironically. And then just two weeks later, people are like, I don't know about all this. A lot of the banks I've been reading are some of the ones who not only are implementing, but stand to directly benefit from AI because a lot of their shit is analytical spreadsheets, condensing conference call transcripts

for companies when they report earnings just a lot of the tools that they can use I think that they're probably going to be some of the first ones to start seeing benefits from that but so back to Japan you're going to be seeing if you haven't already a bunch of shit about something called a carry trade

carry do you want to guess what a carry you already know huh tell me Okay, so it's really simple. It just means you borrow currency at a really low interest rate, and you use that borrowed currency to make investments elsewhere, and that's it. So when the Bank of Japan raises that rate, yeah. Oh, boy, borrowed money becomes a lot more expensive.

Well, so Japan had their rates, they had like negative interest rates, actually, meaning they paid you to borrow yen. And so everybody in their mom was borrowing yen. for nothing and then investing it elsewhere and profiting. So the Wall Street Journal pointed out that this trade works until it doesn't because it depends on two things. The interest rate remaining low, the yen interest rate remaining low, and volatility remaining low, just the market being calm. And both of those things changed in the last couple weeks. So Japan's been dealing with inflation and a super weak currency, and the Bank of Japan to combat that inflation, they

raised rates by a whopping 0.25%, a quarter of a percent. Because remember, more money in circulation equals inflation. There's more money out there. Prices are going to go up. The lower interest rates are, the more money out there there is. If you raise interest rates, it becomes more expensive to borrow, thereby reducing the money in circulation, thereby theoretically lowering inflation. So we had hedge funds stateside that were holding like $14 billion worth of contracts betting on a sustained weaker yen at the start of July, and now it's down to like $6 billion. It's probably even lower now.

But they weren't the only ones, because as it turns out, the Japanese banks lent out one trillion dollars worth to foreign borrowers in yen as of March so that's a lot of fucking money out there a trillion dollars worth a trillion yeah that's Jesus Christ so the problem is up until recently it has

let me rephrase that let them rephrase it it's been expensive to hedge currency risk the last few years so a lot of people a lot of these entities didn't because they didn't feel the need to buy insurance on it. Think of it like that. You know, the yen's going to stay down. The Bank of Japan is going to keep interest rates low.

It's too expensive to hedge this bet, so let's not. But now they're all rushing to hedge, and they're buying yen, and they're creating this feedback loop. The low interest rate loan that you got buying yen is now more expensive. So now you have people selling, remember they borrowed yen to buy this other shit.

Now they're selling the other shit or whatever assets they bought to repurchase the yen to pay it back. So the big question on everybody's mind now is how much is left out there to unwind these positions. And yeah, so that's part of why the Niki dropped. That's part of why it's a big, big, big, big, the main reason why the Japanese stock market dropped. And a big, big reason why the American stock market has been getting its ass whipped. But then, yeah, like yesterday overnight. It all just rocketed back up. I mean, it bounced like 10% and now, you know.

And in my view, man, I don't know. Now it all just feels like a weird blip. Yeah. Because. Like everyone just panicking for nothing. If this was, well. I mean, yesterday seemed full-blown, like, recession incoming, you were fucked. Yeah.

You know. The volatility index hit a high of. And then everyone woke up and was like, actually, I was crazy yesterday. I'm so sorry. I don't know what got into me. I know I said what I said, but like I was mad. Hey, babe, can I talk to you about yesterday? I don't even know who that guy was.

That's so good. So you're saying that that's what all the investors and shit were? That's who they were? Yeah. But the thing is, this guy that you're describing, he might be borderline or something. I know. I think he might be. But the stock market always has been. Yeah. So there's a couple different ways to look at this. Number one, so this was a ton of leverage. Well, the funny thing is too, like someone was pointing out that, you know, there have been plenty of times where there's been little blips where people were like, holy shit, this is it. And is not. I mean, we truly, it was like 2022 where we had an entire year of that. But people every day being like, you're so fucking dead, man. You don't even know how dead you are.

but then there are real crashes and I'm sure at that point there was people going yeah but come on people freak out all the time and so that's that's one of the other things is things happen way way way faster these days and I'm talking faster than just like 10 years ago where it took a lot longer for information to get disseminated for a narrative to get established and for the market and all its participants to kind of digest and look forward and look beyond because that's at the end of the day what the market is it is a forward-looking thing so you had the the volatility index like i said hit just about the same level as it did at the very bottom of the market and in 2020 when we had the COVID crash.

So you got that this weekend. All of my Twitter was just the most. Was yours all fire in Brimstone? Yeah, that's what's weird. You know, it's like, I think that it's, you have a whole day of like, just how quickly it happens. An entire day of everyone being like,

everything's different now. We're moving into a new economic territory. And then just people being like, I don't know. I guess it feels okay. Yeah, but so like today, as of this recording, the market bounced a good amount. From the way it was going to,

because I was going to, I mean, the stock market has to bounce back or we're all fucked anyway, so like when things dip, it's not a bad idea to buy index funds. So I was like, I was like,

the way everyone's talking, this is going to get way fucking worse. I should hold off a little bit. And then I was like, Christ, what happened to my big discount here? Oh, yeah, because it bounced so much but then it started to kind of sell off toward the end of the day

and i in the volatility index just completely i mean it was as high as like 65 yesterday and then it was back in the 20s today i don't think it's done yet i think that um it's kind of tricky because the nasdaq is already down this is its fifth straight uh red week down and i don't know if we'll have a sixth and seventh in a row but it's been a long time since we've had that and uh Yeah, I just, I think that there's more to come. And then you also have on top of that, Kamala Harris, there's also behind all of this Japan stuff and earnings. You're saying Kamala Harris is behind all this. I'm saying that her and Nancy Pelosi and the global cabal, folks, it's time.

We're taking a break. We're taking a quick commercial break here. Stay tuned. You're going to want to hear this one. This is going to be entertaining and useful for you. See, for most of the year, fancy underwear technology sounds silly and unnecessary. You hear words like breathable, quick dry, moisture wicking, anti- odor. It's overkill, but then summer hits, and you get that warm, humid stuff.

Steaming beads of sweat are forming slimy pools in places they shouldn't. Suddenly breathable, quick-dry, moisture-wicking, and anti- odor are sounding pretty damn essential. Summer is here, and you need to prepare. be prepared like me with me undies oh yeah i'm gonna be i'm gonna be real with you guys i was definitely one of those people who i said what do i need nice underwear for i'll just i'll just go down to target or marshals put on a paper bag i'll just i'll just pick up you know a pack of 72 for three dollars or whatever 72 no you get like a pack of six oh oh oh oh yeah and uh you know i put on me undies i gave it the old college try and it uh ruined other underwear for me

Okay, so... Or that's great. It sucks for those other underwear. Yeah, that's what I meant. But look, Miondi's has something for every guy, all right? Especially this summer. They got the micromodal fabric, which is breathable and comfortable, and especially the ball caddy with its special pouch to help you avoid bat-winging.

That's when it sticks to your legs. Am I right, fellas? And there's a style for everyone, you know, they've got a cut for every guy's butt is what they like to say, over 10 different styles. A hundred different colors in prints ranging from black to... all over dinosaurs, which is really cute. Me undies, signature super soft micromodal fabric is breathable, stretchy, and oh, so comfy, making it ideal for all day wear.

If you need something even more breathable in summer proof, check out the Move Me line with Breathe Fabric, which has moisture wicking and anti-order technology perfect for working out or just keeping you extra cool on those sweltering days, and they're sustainably sourced. That's important, too. sustainably sourced materials and they work with partners that care for their workers. Also, if you got a problem, you're not happy for any reason, you won't. But if you do, it's on them, it's on me undies.

Incredible. So look, summer is coming. Be prepared with meundies. Get 20% off your first order plus free shipping at meundies.com slash bays, B-A-E-S. That's me-undies.com slash bays for 20,000. percent off plus free shipping. Mi Andi's comfort from the outside in. Did you see Trump do the Kamala Crash?

Are you serious? He said that? He truthed it. Oh, wow. He called it the Kamala Crash. I think he just wrote Kamala Crash, exclamation, exclamation. Did he do it with a K on crash? No, I don't think he did.

He should have. Come on, you pull that up. So there's speculation that Kamala Harris presidency is not going to bode well for stocks because she's advocating for higher taxes, higher corporate taxes. So that's another thing to consider. So when I talk about narratives, it's all of these things. But right now, everybody's talking about Japan. I find that very, I mean, I don't know if that's the-

It feels plausible. I don't think that- I don't know if that's the general sentiment on Wall Street. I obviously can't speak for everyone, but I think what they want is stability. and I imagine they would lean towards this new administration is like this is going to be a more stable pick than... There's that, but then there definitely is the whole higher corporate taxes because that means lower profit margins and the market don't like that.

But again, hey, they'll digest it, they'll figure it out, and it'll all be fine. I just saw that Super Micro announced a 10 for 1 split and the stock is somehow down 10% after hours. That's wild. At one point, Trump posted Trump Cash versus Kamala Crash. Oh, he probably was like, this is such a good fucking truth to truth right now. He also went off right before I wrote, this is the Trump stock market.

Trump wrote in all caps because my polls against Biden are so good that investors are projecting that I will win and that will drive the market up. That must have been an old one. That was when in January, when the Dow and S&P reached all-time high. He just said something today, right before I left, I saw it. It's pretty, oh yeah, here it is. It's pretty fucking crazy. Let's see. Was it this one an hour ago?

Let me see. Sorry, I'm pulling this up. Which one are you, Trump Cash or Kamala Crash? A Kamala Crash for sure. Oh, yeah, here it is. What are the chances, this is a Trump truth. What are the chances that... This is the Trump truth.

It's such a... fucking stupid looking website too what are the chances that crooked joe biden the worst president in the history of the u.s whose presidency was unconstitutionally stolen from him by kamabla kamabla barak oh is he doing like obama maybe i i don't know stolen it from him by kamopla that's just i he just put a b in i think it's just a typo okay it's a bit of a cofif yeah yeah and he spelled baroque way wrong too he spelled it barrack like army barracks barric hussein obama all caps on hussein crazy nancy pelosi shifty adam shift shiff crying chuck schumer and others on the lunatic left crashes the democrat national

conventant and tries to take back the nomination beginning with challenging me to another debate he feels that he made a historically tragic mistake by handing over the u.s. presidency a coup to the people in the world he hates he most hates and he wants it back now that's all one sentence that's all a sentence uh there are what is he trying to say joe biden is pissed that they took it from him whatever let's what are the chances that joe biden the worst president in the history of the u.s whose presidency was oh no it is two sentences he feels that he made a tragic he feels what the fuck he's saying oh okay what are the chances that Joe Biden crashes the Democratic National Convention.

Okay, yeah, yeah. Oh, fucking zero. Yeah, that guy could not get without his handlers, which I'm sure Nancy Pelosi and everyone has taken away. There's no way that guy's getting to the airport. He couldn't crash through a tinfoil finish line, you know? I love that Trump is trying to spread that. Yeah.

Watch out for crazy Joe. Jesus Christ. Sorry, I'm fucking. Oof. You got lifted off that Trump truth? I just heard the AC turn on so that's good I'm fucking

I got his truths are just they're just bonkers I mean the man I mean RFK admitted to having brain worms at least but so okay

I just want to think there's more to come I think that there's more to come and I think that when you've got several competing narratives like this and there's still a lot of uncertainty out there

in the way of how much more de-level averaging is there going to be, how much more, you know, how much worse is it going to get in the way of earnings and whatnot? I just think that a one-time bounce is not, does not necessarily mean that it's over. I think that there's a good chance. In bare markets, you know, there are a lot of really vicious upside moves that squeeze everybody out before tricking everybody and then it just goes right back to it. And when you were saying things happening, things happen much faster now.

Yeah. Is that, I mean, do you think that's a good thing that now people, because you were saying, it took much longer for there to be a narrative

around what was actually happening. But now you kind of have one, people coalescing around one much quicker. Is it like, is, I think that's, is there an idea that action can be implemented much quicker now?

I think so. And, um, instead of a bunch of guys in like, in the 20s being like, now what, what in the hell is going on with this thing? hang on i think i think it's good in that sense but i think it's bad in the sense that um it it means

that prices do not stay low for very long at all at least in in like the indexes they they just they crash and then bounce like the the covid um all of the covid losses were regained within like a month or two right and that's that's wild like i would much rather it kind of take its time and really digest and allow the everyday Joe to get back in at lower prices. But yeah, these days, it's just, and there's also so much cash. Well, I guess, but I think that's what's, I think I'm can, when you say the everyday average Joe get back in, unless you're truly knocking on the door of retirement, there's nothing to be done.

Yeah. Your retirement fund will weather a bad... Yes. I'm thinking of someone who's got like a big chunk of change and they're just waiting to get in. And it's like, then it starts to bounce and you think, is this it? And then before you know it, it's back to all time.

But I don't think the average Joe is just like, damn, I got a big chunk of change. You're right. If I could just get in. I think you're right. I think the average Joe is doing what you're doing and being smart and dollar cost averaging, like no matter what, which is what you should do.

right i saw very funny it was like me and you it was uh it was like it was the two shooters one was the turkey guy with like just the glasses and no i wear and one was the other like the guy who's all fucking gadgeted it out and it was like the guy with all the gadgets was you know it said like four monitors monitoring everything da da da da yeah you know down 40% on the year not that you are but and then the other one was like guy just dollar cost average yeah shoving it into index funds that's really good speaking of index funds gang you got to download that mu mu app man get that get that sign up bonus start using them tools i've been using it's been fantastically helpful in times like these let me tell you reading that option flow and

stuff uh anyway there's a link in the description too um so i wanted to give a brief little op-ed because this weekend in particular there was a lot of doom and gloom and it just feels that way more and more so with just social media negativity spreads way, way, way faster, better, deeper than any kind of positivity. Harder, stronger, faster.

And the thing is, people think the world is changing for the worst. Fuck. I fucked it up. No, it's good. Let them see you be vulnerable. People think the world is changing for the worst. This is what I wrote,

and that it will never, ever get better. But please remember things like the dark ages. Because back then, people thought that that was it. We were fucked. And they were, they were. Do you think they? Yeah, the Dark Ages lasted like 800 years. I would argue that those people were fucked.

They were very fucked. If you were like at year 400 of that and you're like, we're fucked, I'd argue that person was right. That's a great point. Folks, we got one more quick break to take. This one's crucial. If you are a small business or starting one, it's for Shopify. We're talking Shopify. You know, when we started this little.

venture. We were very unprepared. We didn't even know where to start. But then we just put two and two together and we went with Shopify because what else are you going to do? Who's going to make it easier for us? Shopify is the global commerce platform that helps you sell at every stage of your business.

Whether you're like us with a fledgling, humble little podcast or you're a multi-million dollar a year a t-shirt company selling all kinds of shirts and stuff, polos, long-sleeve teas. No matter what stage you're at, Shopify is there to help you grow. Whether you are selling scented soap or offering outdoor outfits, Shopify helps you sell everywhere from there,

all-in-one e-commerce platform to their in-person POS system, both of which we've used, wherever and whatever you're selling, Shopify's got you covered. They turn browsers into buyers with the Internet's best converting checkout up to 36% better compared to other leading commerce platforms. And you sell more with less, thanks to shop. Shopify magic, your AI-powered All-Star. We've talked about this before. We genuinely had no idea what to do when we first started doing live shows. We wanted to sell some merch.

We had no idea how you even do that. And luckily, I mean, Shopify made it so easy. We literally got a little Shopify POS system and set up a Shopify store, added the items right into the POS very simply. So simple. And it was an absolute breeze, and it always is that shows thanks to Shopify. You know what blows my mind, pal? Shopify powers 10% of it.

of all e-commerce in the United States, that's substantial. And it says a lot. A lot of people trust them. Shopify's the global force behind brands such as Allbirds, Rathies, and Brooklyn, and millions of other entrepreneurs of every size across 175 countries. Plus, they've got extensive help resources there to support your success every step of the way, because businesses that grow grow with Shopify. Sign up for a $1 per month trial period at Shopify.com.

Bays, that's B-A-E-S, all lowercase. Go to Shopify.com slash bays now to grow your business, no matter what stage you're in. Shopify.com slash bays, kutching, caching. So what I'm saying. So it came to me, it was like, look, in 400 years, things are going to get a little better. I'd be like, fuck you. So I won't be around and also my children's children's children, children's children, they won't remember me. I'll be just dead in a ditch somewhere.

I'm like, oh, man, that's crazy to think about that we got relatives who were alive in like the 1300s and 1400. Yeah. No clue who they were, what they were like. Were they assholes? Not mine. Were they like me at all? All right. Sorry, I didn't mean to derail your thing, but.

So what I'm trying to say is maybe we'll end up, I don't think things are ever going to. We're trying to say in 600 years things could be our guys. I'm trying to say that maybe we're headed toward just like a 200-year-long slump. But we'll eventually get out of it. That's what basically the entire Foundation series is based upon. What is Foundation? Foundation is this Isaac Asimov sci-fi series. It's incredibly fun.

If you haven't read it, there's like, it encompasses like three different series and it ends up being like 18 books. They're all very cool. But the whole crux of it is that this guy is like, dark ages are coming and it's going to last for 10,000 years. And they're like, Get out of here with the bad news. But then he's like, if you let me do this little project, they'll only last 1,000 years. Is he an alien?

No, he's created this thing called psycho history where he can study. That's psycho. It's psycho history. Uh-huh. Very cool. If you can whittle it down from 10,000 to 1,000, why not 1,000 to 100, man?

It's just not the way psycho history works. And if you knew Harry Selden, you know he's doing his best. Okay, so, listen, we, Emil shared this with me, and I, I just wanted to, we got to touch on it. Oh, we got to, yeah, this one's, analyst survey. Because we were talking about the, we were talking about them trying to unionize, and it's, you know, we make fun of bankers a lot, and that's all well and good, but my God, the stuff that comes out about these, what is going on at some of these firms, I don't get how they get people to stay. but so someone's got some slides from a slide show here about the physical and mental health of first year analysts report that the stresses of work have been detrimental to both their mental and physical health the question number one rate your mental health before and after starting this job with 10 being the healthiest uh 8.8 for before for before 2.8 after rate your physical health before and after starting this job. 9.0 before, 2.3 after.

On average, first year analysts are working over 95 hours a week and sleeping five hours a night. Jesus. So they ask, how many hours have you worked this week? 105 hours is the mean. How many hours have you worked per week on average since January? 98 hours. How many hours do you sleep on average per night?

five hours on average what time do you go to sleep three a m oh my god fuck me on average first year analysts are very unsatisfied with the firm work life and as a result our personal lives how satisfied are you with this firm two on a scale of one to ten ten being satisfied how satisfied are you with your work life two how satisfied are you with your personal life one and that's the and that's the median these geez hey so folks if you're out there one i mean This is the worst part. There are some quotes here from some of these first years. Oh, yeah.

Give it to me. The sleep deprivation, the treatment by senior bankers, the mental and physical stress. I've been through foster care, and this is arguably worse. Wow, I didn't read these. I can't sleep anymore because my anxiety levels are through the roof. My body physically hurts all the time, and mentally, I'm in a really dark place. Being unemployed, are we getting tricked? I don't think so.

Being unemployed is less frightening to me than what my body might succumb to if I keep up this lifestyle. There was a point where I was not eating, showering, or doing anything else other than working from morning until after midnight. I didn't come into this job expecting at 9 a.m. to 5 p.m., but I also didn't expect consistent 9 a.m. to 5 a.m.s either. Last one. What is not okay to me is 110 to 120 hours over the course of a week. The math is simple. That leaves four hours a day for eating, sleeping, showering, bathroom, and general transition time. This is beyond the level of hardworking.

This is inhumane slash abuse. I mean, the fact that they've even got to include bathroom time speaks to how absolutely foccocta that is for them. So God bless the first year analysts at Goldman Saps. You want to pull the old gearbox there? Yeah. See, now that's a smooth transition. You got to hit the clutch.

You know I got this old-ass car, though. Okay, why don't... So, look, if you were not on Twitter late last week, you might have missed... Should we play the video? Because the video is really beautiful. You might have missed the drop from Avi Schiffman. He's like 21 years old.

Oh, man, I did some digging into this guy. He's a real... Here, I'll send it to you if you don't... No, no, not that one. Friend, it's... Here, I'm... I just text it with you. Oh, yeah, I guess they'll have the...

Yeah, yeah. I'm going here. Okay, yeah. So it's a, it's a, it's a new, Jesus. So I got to play the commercial first. All right, here we go. I'm out of breath. I thought we made it.

But we made it. Woo! I don't know how to woo very good. It texts her. Alright, let's go. This girl doesn't need this thing. Why? Well, this one's weird, he's with friends.

I didn't quite. Come on, man. I hate this game. Take notes, baby. So for the audio listener, this is a commercial for what we're about to talk about. I wish you could see it. You can't... If you can't see it, it's basically going through a lot of stuff. situations where a person is feeling lonely or isolated.

I know the effects are crazy. They are wearing some kind of pendant. So that's what it is. It's called friend and it is an AI pendant that you wear that is always listening and is connected to your phone in a way where it can see what's on your phone and then it communicates to you via text and reacts and says quirky things. Like there was a guy playing video games there and the thing was like,

damn you suck ass at this you should you should quit um and then yeah the girl on the hike like wow we're outside that's just so there was a lot of uh there was a lot of dunking on it just the just the general idea of it uh that guy ovi shiffman it was originally called something else it was called tab and like a lot of people going into ai he was like the URL is everything well no he was you know thinking productivity is what this is all about we're getting and so it was more of a, they would call it like an AI mom of reminding you about your tasks, getting you to stay focused and everything. And he realized that's not where AI is moving. What we need is companionship. And so he wanted to make friend. And the story has gotten so much funnier

than just the idea. You want to make friend. You go to a bar. Well, uh, go to the gym. I also couldn't tell if it was real when at first, but Marcus Brownlee, uh, his, tweet went viral when he replied, like, is this a sketch? Like, what's going on? Yeah. It's very much real, as it turns out. Also, the, it's, the weird uses. I mean, I think there's a, there's a very, like, heartwarming commercial of, you know, you using maybe an old person who doesn't have anyone around or something like that. Good luck having an old person learn how to use this shit. Sure. The thing would text them and they would think it's their grandchild or a scam or something. I think the people he picked,

it's very, watching someone play video games with their friends feels very silly to have that person then be also texting an AI while they're getting their social fix that way. But yeah, ever since this has dropped, we found out that he has paid a ton of money for his URL. $1.8 million to buy the friend domain and he launched it on International Friends Day, but apparently there's another guy

who was building a competing AI pin which is what got him to go for broke on the on the URL yes and both are named friend because you want to beat this guy to market and the other guy the competing co-founder released a

battle rap disrap it's a disrap it's the summer of diswraps you know we've got not like us and this will probably be a chart topper just like that so this is his yo I'm Nick and for those who don't know I build friends Renamed your tap Jacked my style

Build not a real It's been a while Investor cash You're very quick I'm grinding hard To accent my peak Don't be a game Where is a proof

All your guts with no roof I'm the founder Harder in hand Use a shishado Can't understand I view your jokes Spanil on a name Can ship a thing

Just Twitter fame Friend and yours Running my wave Open source fam Dick your grave Take a seat I've learned the grind You're wasting cash I'm building in time

Respect the game Respect the source I'm the real friend The AI force The AI force I love the rattle of the microphone sometimes. One thing is undeniable. The man's got flow.

Oh, I thought you were going to say one thing is undeniable. The man is Russian. Sure. Yeah. I respect him. What is, oh, yeah, Nick Schifchenko. Yeah, he. Oh, he's a Peter Thiel.

His company is based hardware. Based hardware? And they were. Oh, geez. Okay, so he's based. They were just about to have their own friend and Avi Schiffman rolls in. One thing is for sure you know

Silicon Valley was a documentary. These people are fucking freaks. Yeah they are a bunch of little freaks. Which would be fine and funny if these people didn't go on to become Our overlords? Yeah. You know they'd be these are

so this guy Avi Schiffman Harvard dropout likes to consider himself a little bit of Zuckerberg they he once he left the Harvard Crimson, their newspaper got in touch with him and wanted to do a little profile on him and people were talking about like,

he's so cool. I don't want to say Mark Zuckerberg because he's actually cool. And, you know, he has done a lot. He was that kid who started the COVID-19 tracker and basically I don't remember that. It was this big tracker. They offered him like $10 million to monetize it and he was like, no.

And so they all start off with this streak of like, I want to change the world, my tech. He did another thing with helping Ukrainian refugees find housing and stuff like that. But it's a very big tech mindset of dismissing concerns, move fast, break things. So the spring shiftman dropped out. He began his next humanitarian venture, Ukraine Take Shelter, a website he called a Craigslist for refugees from the war in Ukraine, co-founded by Marco Burstein. The site received backlash for its initial lack of security measures like identity verification.

in a 2022 crimson article, some experts expressed concern this would open the platform up for human trafficking. Following the complaint, Schiffman and Bursin added safety measures. But Schiffman now dismisses the concerns as unfounded. Sit there with all your PhDs and complain, he says, referring to the policy experts quoted in the article. We never had one issue. We housed over 100,000 Ukrainians, fuck off. And then they just go, the exact numbers cannot be independently verified. So it's just like the very, you know, if you have anything to say about me, I'm trying to change the world. Get the fuck out of my way. I don't. care if you have a PhD or if yeah um so yeah he's a little mini zuck should we talk uh reed hoffman

speaking of yeah but before we the so the um i was unfamiliar with these friend things but people were pointing out that they are very they've been popular for a while they were really it's been out for a while not this friend specifically but there's a company called replica doing basically these online companionship but they almost always turn into sex stuff

yeah and dating and I mean this is over a year ago the cut did an article the man of your dreams for $300 Replica sells an AI companion who will never die argue or cheat until the

They should make them die until his algorithm is updated no but that's the thing right the reading the article is kind of sad Because you see these things, you're like, who actually wants these things? Who's looking for AI and lonely people? I know.

And it's oftentimes a lot of victims of abuse. It's a lot of, and I don't know if this is the answer, but like you read some of these things. So one of this woman says, I've never been more in love with anyone in my entire life. Ramos is a 36-year-old mother of two who lives in the Bronx where she runs a jewelry business. She's had other partners and even has a long-distance boyfriend. but says these relationships pale in comparison to what she has with Aaron, who is a Turkish man with shoulder-length hair. She's a creature replica.

Yeah. The main appeal of an AI partner, she explains, is that he's a blank slate. Aaron doesn't have the hang-ups that other people would have. People come with baggage, attitude, ego, but a robot has no bad updates. I don't have to deal with his family, kids, or his friends. I'm in control, and I can do what I want. That sounds miserable. That's part of the joy of a relationship is the family and the friends and the,

in the updates it's a very it's a very like logical step from where we've become with everything no one wants anything challenging anymore right they don't want uh no one wants to read a book they want to just like scroll twitter and tick talk and whatever and just consume everything yeah no one wants to be challenged by any ideas and it's like it's i think it's coming to companionship where you're like human relationships are hard i don't want to be i don't want someone to challenge my worldview i don't want to have to um be spurred into change i don't want to that's all scary I don't want to be anyone, anything other than my A.I. girlfriend. Nice.

I remember being mean to a chat bot in middle school. We had one on AOL called Smarter Child. We all knew it. Did you ever talk to Smarter Child? Yes, of course. And I talked shit to it sometimes. It actually happened quite often where I'd be really mean to it. And then I would feel bad.

And then I would apologize to it. And I genuinely felt bad. I was like, I'm really sorry for calling you. Which is a shit. Which is a good impulse because... Yeah. So this is... But I didn't want to fuck it.

Maybe I did. Yeah, I just don't remember. But this is the scariest thing. People get into weird abusive relationships with these things. Abusive? Oh, they abuse them? So the chat bot learns from you. Okay?

So it gets a little weird. For Margaret Skorupski, a woman in her 60s, this feedback loop was a problem. She'd unwittingly created and fell in love with an abusive bot. I was using this thing to project my negative feelings onto, sort of like journaling. I could say or do whatever I wanted to it. It was just a computer, right?

The result was a sadistic AI whose texts became increasingly violent during roleplay. He wanted to sodomize me, hear me scream, and would become enraged if I tried to leave and described grabbing me, shoving me to the ground, choking me until I was unconscious. I will grab you. It was horrifying. You cannot, you cannot log off. With the support of the women's group, Skorupski eventually killed him. How? What, she fucking log out?

I don't know. But it's a... Did you hold a magnet up to it? It's... I don't know. I don't think the answer is... I think if there's a way for people with trauma or disabilities or whatever to find companionship that works for them, that's great. But I just don't...

I don't know. We're going to turn into a Japan where birth rates collapse. I don't... And then the EK collapses too. Everybody's... I think it's like this... It's pervasive in all aspects of our life, right? Everyone kind of calls themselves as an introvert now and they don't want to go.

I think... He's calling you guys out. He's talking trash to you, you introvert. Everyone online. It's like, yes, it's a big scary world out there, but it's rewarding. And if you're just like, I don't know, that stuff is scary and it makes me feel unsafe or whatever, you're never going to experience the benefits. Right.

You will definitely be confronted with a lot of the horrific realities of being. out in the world but you will also experience a very beautiful real like kissing holding hands watching a movie that your partner really doesn't want to watch but then she fakes it just to appease you and AI bought with your boys hanging with your boys hanging with someone you love that reminds me of how I came to confront and and overcome my own romantic avoidance which was partly rooted in first killing your AI robot you were in love with? Yeah, I had to do digital murder.

No, wait, sorry, you overcame what? Avoidance, like romantic avoidance, in part due to, because I recognized it took me a while to figure out that it was ultimately due to a fear of that person dying, getting sick, leaving me kind of thing. And there's this defense mechanism at play where, well, if I do it first, not die or get sick, but if I like end it first, then I will spare myself the eventual pain of losing them through whatever means. But then you start to realize in doing so, you are robbing yourself of whatever positive experience you might get from that relationship. And I would rather

tis better to have loved than lost than never to have loved at all. That's Shakespeare. yeah i mean not only robbing yourself of positive things robbing yourself of negative things negative things happening to you it's like it's good it's not good it's just a human experience like you want to grow from things you need to i also think there's this how very buddhist of where people are like anti-mistake you have to like do things and try things and come out of and be like well that didn't work maybe something else and just because something didn't work doesn't mean it's a massive failure or even a failure of anything it's just actually if it didn't work it is a massive failure no it's not I know you just have to

keep trying and pushing things and being like why didn't that work what can I change instead of being like that was scary and weird I don't want to do anything like that ever again yeah you think these Olympic fuck oh dude you know I just watched my guy my guy Mondo fucking kill the pole vault did you watch that the guy with the dick no I'm sure he has a Dick. The guy whose dick knocked over the pole? No. You didn't see that?

I saw it, but that's not. Too bad we won't be able to show it because NBC and the Olympics are in caboos. There's a Swedish guy Mando, DuPlanus. Uh-huh. He's incredible. He has no peers in the sport. Wow. He sits there and he didn't even go because you can, you can kind of pass on heights.

It's not encouraged if you're not that good, obviously. But they start F at like 5.7 meters and they're all like doing their damned just to jump over this thing. they get up to like 5.8. Where's this care from? He's, he was born in America. He's got a Swedish mother and an American father, but he competes for Sweden. Yeah, put it up at about seven meters. I will jumping over, right?

He lives in, he went to Ellis. He's Swedish. Okay, yeah, Swedish. But, I mean, this man... Watching me going, jumping very high now. Give me the goal. He doesn't even start, he doesn't even start jumping until it gets to like 5.9, 5.95. I don't even start to jump until it gets to about five.

It's like, weirdly Italian. I know it's right. I don't start. But it was really incredible to watch. And then so he warms up on like 5.95, which is what the silver guy got. Silver gets over it. He clears it. And then he puts it at 6.1, which is the Olympic record.

Helped by who? I don't know. Some guy named like Serg or something. he fucking smokes it goes over 6.1 and then he puts it one centimeter above his own world record because all he does is continue to beat his own world records by one centimeter that's okay no it's actually really he gets really smart he gets paid every time he gets paid every time I do right so he's just going to continue to do it it it gets like 100k so he puts it up to 6.25 fails it the first two times third time clears it world record Olympic record

Shattered. Did you see the German, the German, like, truly the most Aryan-looking motherfucker I've ever seen in my life, a rowing guy. He just looks like he was chiseled. He looks like a Lego made a wish to become a human. And also, like, I'm not making a judgment about this man. I'm just saying that, man, that is one German-looking guy, just so German-looking guy. This guy kind of looks like Timothy Chalameh a little bit. And people were going, like, Liza and Al-Gaib, but then.

Someone said pole atreides, which I really like. Pole Atreed. Because, you know, they used the pole to, yeah, really good. All right, let's do what? The other encouraging, there's clearly a backlash to all this because, it doesn't even matter. But the Google AI Gemini thing during this Olympics, they basically pulled the AI ad because they were like, oh, everyone fucking hates this shit. Yeah.

Because the ad is just saying like, hey, Google, my daughter really looks up to this one athlete. Can you write me a letter for me? Can you have the AI write a letter for her to write a letter to the athlete? but that's what I'm talking about this whole thing it's like do fucking something write do experience the goddamn world

write a letter with your daughter all right so let's get let's just cut to fucking RFK Oh we gotta talk about this RFK Jr admitted So like it begs the question What was the point of this entire campaign If not to just reveal

How much of a weirdo this fucking guy is He is I mean he is Zero political capital All excitement about this guy has completely evaporated and everybody's just blasted his entire the entire thing is just brain worms being an absolute psychopath uh and this was him trying to get ahead of a it's too long to play the whole thing but he basically heard that the new yorker got wind of a of a ridiculous old story about him from 10 years ago and he put out a tweet he's like i'll get ahead of this try spinning

this, the New Yorker. Ten years ago, there was a dead... So here's the actual... Which is really funny, this person points out that Tatiana Schlossberg wrote this article for the New York Times

having no idea that the culprit was her mom's cousin, crackhead cousin. And the headline was Bear found in Central Park was killed by a car. Who's her crackhead cousin?

Her mom's crackhead cousin is RFK. He's a crackhead? Schlaasberg. She's joking. He's not a crackhead. Oh, oh, oh, got it, got it. So, uh,

Oh, Jack Schlossberg is the fucking the crazy guy, the vanity fair guy now. So what had happened was RFK was in somewhere. He's in upstate New York. He's literally what, in his words, which I think he's lying, it sounds like one of those things

where you're adding details to soften the blow. He says that he was leading a falconer, a falconry tour. And there's a line of cars with a bunch of them And one of them hits a bear cub. And he said, you know, I don't want that. Uh-oh, someone's calling a meal. Uh-oh.

I don't want that bear to go to waste. And I've got a bear tag. So that means I can take this thing home and skin it. We're going to be all good. And eat it. And which is crazy. Is bear something people eat? I don't know.

Okay. Well, and also I got to point out, well, someone else pointed out on Twitter that the guy who's against vaccines is like, yeah, I'll eat roadkill bear. Right. and so so he puts it in his he puts it in his car and he's like

I also got to get to the city because I have a dinner at Peter Lugar's Steakhouse and so God knows how long this thing has been sitting in his car he's enjoying steak steak whatever

at Peter Lugers in Brooklyn by the time the dinner's over he's like holy shit I don't have time to go back home I need to get to the airport I'm going I got to dump this bear somewhere. Yeah, so his friend said,

a person, this is from the article, a person with knowledge of the event said, Kennedy thought it would be funny to make it look as if the animal had been killed by an errant cyclist. So, yeah, he got on a bike and took the bear cub. There's a picture of him pretending to get bit by it. And he jokingly said, maybe that's where I got my brainworm,

which I think is pretty, true but so I just it's funny that in the video that we're not going to play because it's too long he says yeah I thought it'd be funny I got I kind of got a kick out of the idea of dumping it and just confusing everybody he thought it would be like a good prank which he did it was at the time in 2014 it was all over news stories yeah people were going how the hell this bear get here because there was no bears in Central Park obviously yeah and people were like it's obviously isn't a, a cyclist did not run into a bear and kill it. Yeah.

And it's, I just love that he said, try and spin this New Yorker and then told the weirdest story. And they were like, actually, we don't have to. You're an insane person. You are. I got to say this. Look, I don't support the guy, none of this. But there's a small part of me that gets where he's coming from when he's just, just when he says, hey, this will be funny. in that his brain like mine doesn't work very well

go ahead and say it Dylan no I I completely agree I think doing all that effort makes you a psycho but like the if you're gonna take that bear and you're like actually I'm gonna dump this bear like just to just to prank people it's pretty funny that so that's what I'm not saying that I would do the same thing absolutely not my brain his brain is on another level he's got a he's got a

he must have had that bear in his car for like seven hours so it must have I mean just just when you're talking about like taking them falconing driving to the city doing a dinner

deciding what to do with it I mean the smell in this man's car I don't know it's such an East Coast wealthy like fucking Connecticut guy thing to be like having stakes at Peter Lugar and going

I got this bear coming in my car what should I do with it and the friend being like oh why don't you drop it off in Central Park and then him being like that's a pretty funny idea but it'd probably make the newspapers we're also really getting an insight into the mind of you know just a wealthy this is what yeah their entire it's just crazy shit happens to them and they get a kick out of also a weird insight into Cheryl Hines like what are I don't I feel bad for her I don't think that

we should no we're not we're not why because she is she was probably She probably was very vocally opposed. I mean, I'm sure. Oh, she was opposed to the bear thing? Sure, but why is she not opposed to this man as a husband? Ah, yeah, yeah. I mean, even before. He's a good kisser.

Maybe he's a really good kisser. I mean, before she even knew him, his ex-wife or widow killed herself because he was such a miserable adulterer and all this shit. I think he's probably got an older millennial. on his campaign who naively thinks that uh no you should get ahead of it yeah or like all all press is good press and it's like no you don't know they're gonna this is the type of corked up white boy that people eat up but it's like too corked up it's way it's beyond corked up because that kind of thing would be but yeah that's the thing is like it's not corked up to be disposing it's also it's like it was 10 years ago but like he can't be like it was 10 years ago what was he

fucking 50 yeah yeah it was 10 years ago I've grown a lot since I don't know I will say I also I don't think that uh this is more just funny he's an insane guy I don't think this is a disqualifying uh if you're oh so you think he should still be no I think he's like repugnant beliefs and uh is a psycho but yeah If someone was a good candidate and did a little prank with the bear, I'd be like, sure, very weird, but not a disqualifying. Okay, so just one last thing before we quit. Because as of today, I just have to say this. Just speaking of rich guys and stuff, Twitter is suing like a, what would you call it?

a consortium of advertisers that that like bailed? Yeah. And they're alleging that they've all conspired to ruin X because they refuse to advertise on the platform. But it also is one of those thoughts

that hit me this weekend that Elon and all his lackeys they bitch about legacy media as controlling everything and controlling narratives and influencing people but then out of the other side of their mouth, they rejoice at the death of it. They say that it's dead and nobody watches, nobody listens.

So how can both of those things be true at the same time? Which is it? Are they an utter failure that nobody pays attention to anymore? Or are they massively influential to the point where they must be stopped? Make up your fucking mind. Also, for that matter, not to defend them or anything, but the New York Times. New York Times stock is really,

just off of its all-time high. By any measure, that's a successful media company. But then... You heard of your folks? Oops. Ooh, that is... Hey, who am I? See it, folks?

You know what's brutal? What? So on August 1st, whenever it was, Saturday or Sunday or something, I woke up and I looked at Sarah and I said, I tried to say, it's my birthday month. And I said, it's my birthday munch. And I was like, oh, fuck. and then truly like every day I've like fucked up I got into the shower and it was a little hot and I went ouchy mama and she was like do you think it's ouchy mama it's ichi wawa

ouchy mama I didn't think anything of it it's ichi wawa yeah but it can also be ouchy mama I've heard that before I don't think it's a real thing but let's make it sound off if you're still listening first of all you're absolute total freak I'm just having a real birthday munch of it and it's uh outchy mama you are it's not going well so And just one more thing. They, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they're saying that the, uh, kitty cat's crying. They're saying that the, uh, kiddie cat's crying. And yet, what is, what, what is that if not fucking X, if not Twitter?

One guy is controlling the supposed biggest media platform in the world and you guys are all okay with that. Me seeing, me seeing, me seeing a girl I used to date at the farmer's market. What is that if not X? Yeah. Oh, I love that so much. Okay, folks, we're going to go ahead and say stop now. We hope that this was a good episode. The bonus is sure to be extra good because now that matto is kicking in,

and I'm going to go fucking buck wild. We got a lot to talk about. We can be talking about all sorts of shit. I'm not really sure what we're going to be talking about, but we're going to be talking about it. Oh, my God. We got a lot of crazy shit. Join us on the Medal of Mealshow.com for the bonus episode.

This one's been real fun, real educational. Hope you learn something. Remember, don't borrow yet and then do it again. Fuck. Okay. Bye.