The Ben and Emil Show - BAES 73: The $70 BILLION fraud that just rocked wall street
Episode Date: November 7, 2024Lina Kahn is doing the best work in all of US government. She takes action that makes people's lives better, easier, smoother. And yet, she's persona non grata on the left and the right. No shocker th...ere. Our second big story is all about the MAJOR fraud allegations against SUPERMICRO, once the darling of wall street, it's gained and lost over 60 billion in value in just two years. So what the hell happened?? 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! :) __ ROCKETMONEY: Stop wasting money on things you don't use! Cancel your unwanted subscriptions by going to https://rocketmoney.com/baes MOOMOO: Important: The creator is a paid influencer and not affiliated with Moomoo Financial Inc. ("MFI") or its affiliates. Content outside of the moomoo ad has not been reviewed by MFI and reflects the influencer's own views. MFI does not endorse any strategies mentioned and is not responsible for the influencer's services. Click this link https://j.moomoo.com/CREATORNAME to get up to 15 free stocks from moomoo U.S when you make a qualified deposit + earn 8.1% on uninvested cash for a limited time for new users!! Terms & Conditions Apply __ Latest MEATBALL SPECIAL HERE: https://youtu.be/Euyfzwmq8WY Last week's episode HERE: https://youtu.be/Gtc8pbuxiLQ Watch the latest Ben & Emil On HERE: https://youtu.be/ZgLZQZ8oeQI This episode was shot and edited by Connor Rousseau / @ conrad_roussrad Follow us on instagram! @ benandemilshow @ bencahn @ emilderosa Learn more about your ad choices. Visit podcastchoices.com/adchoices
Transcript
Discussion (0)
Like a kid in a movie whose parents get murdered.
She's just waiting for her revenge.
Just plotting her revenge.
Like young Michael Corleone in The Godfather, he's just waiting.
I'm going to come back.
Bruce Wayne outside of a movie theater, but Jeff Bezos shanked her dad.
She's not afraid of bats.
She's afraid of junk fees.
Yeah, she's junk fees.
I'm looking down tired with bed in on me.
Tell me what's going on.
Tell me what's going on.
So listen to a minute.
Tell me what's going on.
Tell me what's going on.
Wow.
Welcome back, everybody.
What a difference a shirt can make, huh?
Can we all take a minute to look at Ben?
I mean, he went from father whose son died and didn't own a suit
to maybe the hottest substitute teacher I've ever had in this class.
I'm your substitute.
He sure is up, but God, he's dumb.
Mr. Con, what are we going to be learning today?
A little bit of history.
We're going to talk about...
This is English class.
Oh, yeah. Well, history of English, you know, things like that.
Oh, history of English. That could be interesting.
Speaking of history of English, folks, we got a great episode for you today.
Hopefully by the time you see this,
we will have
I don't think you
I think by the time you
if you're watching the day
this drops I don't think
yeah probably yeah
but we've got some
but it is a election day
yeah I threw out my sticker
yeah
whoa
oh sorry for a minute there
I thought we were having an earthquake
but we're not
my chair was bumping into my desk
I'm gonna talk to the superintendent
I do not want
substitute teachers
go ahead talk to the superintendent
see what I care.
But so,
also,
hey,
I got some exciting news
that I'll share
in the bonus,
today's bonus,
but,
um,
that was,
you don't even know.
You don't even know.
I'm just trying to get the promo out,
which I believe you can find
at Ben and Amel Show.com.
Gotcha, gotcha.
Uh,
but today we're talking about Lena Kahn,
no relation to me.
It's a different spelling.
It's the wrong spelling.
And how she,
she do be making waves.
And we are here for it,
queen.
And also,
man, there is some big, big, big, big potential fraud.
I think it's safe to call it actual fraud.
SMCI stuff.
Yeah, super micro computer company.
I will be guiding you through that fascinating story that's been going on.
And, man, talk about destruction of a company's stock and value.
And they're reporting earnings like right now as we do this.
So I'll check as we're doing this.
If we have time, we might talk about locking a CEO's ass in jail.
Oh, yeah.
There's also some guy.
Oh, man, this one's hilarious.
Yeah, he got spanked and his shiny red butt is going to jail for 10 months.
And he's got to pay money for really.
Don't spoil it.
Oh, yeah, really, but it's the whole story.
We'll get to it.
But, yeah, folks, we also got stay tuned for the coming of the week.
We're going to be talking about that.
Oh, you got to stay tuned.
the really good ones. It's really nasty and disgusting. Yeah, that one's pretty nasty and
disgusting. There's a couple though. So, but before we do that, I didn't do any research
on this one. I thought I would just kind of react to live. This is a perfect day to talk about it.
You know why? Because it's election day, it's already over. We can't be accused of
hurting Kamala's chances at all. We are legally allowed to complain about Kamala Harris again.
She stinks. Man, I can smell that. I've wanted to talk about this.
a while, because it's been going on since late July when Kamala got, got the nod to be the nominee
when Joe Biden stepped his old ass down. But yeah, you're familiar with who Lena Con is,
correct? Yeah, she's the, would you call her the chairperson or the head of the FTC?
I think both are completely fine. Chairwoman of the Federal Trade Commission.
Of the FTC. She's a, she's a lawyer. She was, she went to.
Yale Law School, then was a professor at Columbia Law School and worked for a bit in the Consumer
Financial Protection's Bureau before Joe Biden nominated her to the head of the FTC.
It is important to note that when she was at Yale Law School, she wrote a very influential
article in the Law Journal called Amazon's Antitrust Paradox, which is a nod to
sorry, this is going to be very, but Robert Bork's
1970s book, Antitrust Paradox,
which has basically defined antitrust law in this country
for decades, where it's just this laissez-faire
applying the consumer welfare principle, which is basically like,
hey, look, as long as prices aren't going up for consumers in the short
term, just let them fly. Let companies fucking merge, let them buy each other
up. And that's why for, you know, now when you do anything,
you rent a car, you're going, God damn. It looks like there's a lot of companies, but they're all
just owned by two different companies. Uh, anything. Uber, it's like, damn, they own postmates and
DoorDash owns caviar. It's all just the same fucking thing. Um, so what was the paradox that he spoke
of? Uh, the paradox. Mm-hmm. You said the antitrust paradox. Yeah, that's what he calls it.
It's that you don't need to look at the actual corporate power. You just need to look at how it affects
consumers. Um, and if it's not making prices go up,
in the short term. And it's completely fine. She argues that that's a completely backwards way of
doing it. Oh, so she was critical of this man. Big time. Gotcha. Gotcha. So at this point,
it's almost become common knowledge that this is the goal of companies, but places like Amazon,
most tech companies, the goal is to offer up cheaper prices to capture market power, right?
Everyone knows that like Uber, it was sick when Uber came out. You're like, I can take a $5,
a ride. And of course, get everyone on the app. Shut down. Competitors. Shut down taxis.
Shut down every competitor. And then you own the market and you can control it in whatever
way you want. And then you jack up the prices. Right. So she's saying this is a completely
backwards way of looking at it. She had, she had to be, you know, there was obviously people
attacking her for those views and then some support from conservatives, some support from
liberals. But when she got nominated, she was passed.
through pretty popularly. The Senate voted her through, I think it was 69 to 29.
All right. Putting her in. Okay. So people, they, they seem to trust her.
I think there was a lot of, yeah, there was excitement around it. And she gets in and she starts
immediately enforcing the law. And if you don't know, the FTC, you know, they have jurisdiction
over antitrust and basically consumer protections in general.
And you know what, your friend, Crang T. Nelson on Twitter, had a very good way of putting it.
I think it's because he quote tweets one of their, one of her tweets.
And what she was talking about, as of today, FTC's final rule banning fake online reviews and testimonials has come into effect.
If you encounter any of these prohibited practices, you can report them to the FTC.
And he retweets it and says, one of the reasons I like what Lena Kahn is doing at the FTC is that as a very dumb guy, I can still clearly understand the
value of all, of it all. Like, hey, here's a thing you encounter a lot in real life that sucks.
We made it illegal. That's cool, in my opinion. That is cool. It is very much, we're going to
run through some of these things. It feels like she's dedicated her life to, uh, every time you
see in the news, like a thing, a company's doing, you go, what? That's fucking legal. It's usually
not. And they're trying to enforce rules to make these things go away. She sounds like she was once
given the short end of the stick by a company and just swore just like a like a
kid in a movie whose parents get murdered she's just waiting for her revenge just plotting
her revenge like young michael corleone in in the godfather he's just waiting i'm gonna come back
bruce wayne outside of a movie theater uh but jeff bezos uh shanked her dad and she's she's not
afraid of bats she's afraid of junk fees yeah she's junk fees so she's
Junk fee woman.
But yeah,
so immediately she starts
doing shit,
you know,
she's pursuing lawsuits
against companies
to lower drug prices,
including insulin
and inhalers.
Man,
if I'm a CEO,
I'm pissed.
Blocking,
blocking mergers,
like NVIDIA,
purchasing arm holdings,
the British semiconductor
company in 2022.
And then it's crackdowns
on deceptive junk fees,
restoring the right to repair,
all things,
just like widely popular.
People are,
the new click-to-cancel rules.
We love that.
Yeah,
where you can get out,
of you have to be able to get out of your contract as easy as it was to get in.
Filing suit against, which we talked about on the show, filing suit against Amazon
for their enrolling customers in Amazon Prime subscriptions and making it exceedingly
difficult to cancel through its Project Iliad.
It just goes on and on.
Ordering credit card, credit karma to pay $3 million to users after the company used dark
patterns to misrepresent the consumers were pre-approved for credit cards off, credit card
offers and harm their credit scores.
Oh, man, I always recommended credit karma, too.
I mean, sued retail giant Walmart for facilitating money transfer fraud that cost consumers
at least $197 million, possibly as much as $1.3 billion.
Did she go after Wells Fargo, too, for their deceptive, or was she not in office appointed
by that time?
That's a good question.
I don't know exactly.
I don't think she was.
I was just pulling some highlights where I'm like, God, these are all just like, no-brainers.
There was a series of mergers they deemed illegal.
Lockheed Martin trying to take over independent American rocket manufacturer firm,
Nvidia and Arm, Berkshire Hathaway, trying to purchase Questar Pipeline,
Sportsman Warehouse, trying to take over Great Outdoors Group.
On and on and on.
Hey, gang, we got to take a quick break to thank a sponsor of today's show.
We are both users of this product.
It's called Rocket Money.
And let me tell you a little bit of why I enjoy some rocket money.
You know, a little while back, I'm going through my credit card statement, and I'm looking
at all these dang subscriptions that I've got, and I'm thinking, what the heck are all these
things?
I don't remember signing up for this and that and the other thing.
And turns out I had forgotten.
And that's a very normal experience that a lot of you, I'm sure, can identify with.
So you know what I did?
I just went over to my rocket money, because I'm wondering, what else is out there that I don't
know about?
Because I got, you know, multiple credit cards.
I got things, subscriptions every which way.
Sometimes you forget.
Sometimes you don't know.
Who can keep track?
Who can keep track?
You know who can keep track?
Rocket money.
That's right.
Rocket money kept track.
So I logged on there.
It found all my subscriptions.
I kept the ones that I wanted and I nixed the ones that I didn't.
And now I'm saving all kinds of cash.
It's a really incredible service.
Rocket Money is the personal finance app that helps find and cancel your unwanted
subscriptions.
monitors your spending, helps lower your bills so you can grow your savings.
It's got, I mean, over 5 million users have saved a total of, get this?
How much?
$500 million in canceled subscriptions, saving members up to $740 a year when using all the
apps features.
It's great.
You can see all your subscriptions in one place, you know exactly where your money is going.
And for any that you don't want, you don't have to go do it yourself.
Rocket money can even help you cancel.
your unwanted subscriptions with a few taps.
So stop wasting money on things you don't use.
Cancel those unwanted subscriptions by going to rocketmoney.com
slash B-A-E-S.
That's rocketmoney.com slash bays.
Rocketmoney.com slash bays.
Love it.
Like it.
Once more of it.
Yeah.
So she immediately starts doing all these very popular things.
And honestly,
as someone who's very critical of Joe Biden from the beginning,
he did, you know, it was...
Between Lena Conn, Jonathan Cantor at the Department of Justice heading their antitrust division,
Rohit Chopra, I believe it is.
Wow, dude, you fucked that up.
Is that not how you said it?
I have no idea, but it sounds fucked up.
Rojit Chopra?
How did you say it?
R-O-H-I-T-H-I-T-R-A.
Go for it.
Rohi-C-C-O-H-Pra.
Oh, she's Italian.
Rohi-C-C-Pra.
Go on.
I didn't know she was Italian.
Chopra.
And to a certain thing.
extent, Gary Gensler at the SEC, who's, you know, drawn the ire of every crypto person.
Oh, yeah, they all hate him. They hate his ass. Yeah, they hate a lot of these people.
But Lena Con in particular has, obviously from these things I'm listening off, has not made
a lot of friends in the business world. Which means to me, she's doing something right.
Honestly, when you have this many billionaires talking about you, so when Harris gets the
nod, immediately everyone starts going on CNN, CNBC, tweeting about it, about how they need to get
rid of Lena Con.
Lena Con.
And the most disturbing part about this is these are Democratic donors, huge Democratic donors.
The first and most vocal one in July was Reid Hoffman, co-founder of LinkedIn, billionaire.
He said that Lena Con has been waging war on American business, which is, you know,
American business is waging war on the American people.
Yeah, no kidding.
And that Harris should replace her.
Just outright saying it, other people were not as brave as, as Reed Hoffman was and doing a lot of anonymous, leaking stuff to the New York Times saying that they need to get rid of her.
Barry Diller, the Expedia founder, came right out and told Bloomberg that they need to get rid of Khan.
And then ever since then, it's just anytime someone goes on CNBC, they ask them, you know, what do you think should happen with Lena Kahn? It's, you know, Mark Cuban said who's everyone's favorite benevolent billionaire? They think he's going to save us from Trump or something, which is unfortunate that we've gotten to a point where my billionaire versus yours?
Yeah. Everyone's like, please, we just, that's the best we can do. We just need a nice billionaire. Also, the CEO of Expedia is probably pissed off because I believe Uber.
was poking around, considering acquiring them.
There were headlines recently that rumors, the rumor mills, swirling.
That's the thing.
This has been for decades, Democrat or Republican, no matter what the administration is,
it's very laissez-faire when it comes to antitrust law and the way it's applied.
And things have been very different.
and there's been a childish response from the business community.
I mean, Elon Musk even tweeted, she will be fired soon.
Yeah, that was just a few days ago.
No surprise there.
Yeah, Jim Messina, who was a former Obama staffer, now a director of a crypto firm.
Obama.
Talking about how they need to get rid of her.
Everyone wants this woman gone.
But the most, the scariest part about all this is that,
is the is the way that it's just such a naked example of a quid pro quo where you were talking
about people wanting to withhold donations and stuff like that um let's just hoffman read hoffman
has given eight and a half million dollars to super packs that are now supporting harris one of those
super packs is already on the air with a harris biographical ad he helped convince netflix co-founder
Reid Hastings to give $7 million to the main Harris Superpack just this week,
and he's going on a fundraising swing with Harris that's part of an effort to raise
$100 million from tech interests.
Boy, if you really want to have a successful dorky kid, you name him Reed, huh?
Yeah, Reed is...
Hastings, Hoffman?
Reed, come on.
But this is...
It's just been insane to watch these people just freak out at...
just the, just law being applied in any way, just upholding any kind of rule structure that
is it because they're pissed off at her interpretation? Do they say that she's interpreting
the law in a way that is hostile to business interests and that she's just getting in the way
of, like the House Oversight Committee, we were talking last night about how the House
Oversight Committee was saying, oh, she's being partisan. And it's like only,
Go ahead.
Well, you didn't.
But I was going to say only...
I think they would say a number of things.
I think they would say, yes, she's partisan.
I think they would say that, yes, she has a wrong interpretation of the law.
I think they would say, if prices are not going up for consumers, just get out of the way.
Don't stifle American business.
I think Mark Cuban has talked about how if we want to be...
Um, if we want to be the leader of AI, she needs to make sure she's not getting in the way of any of these deals and all that. Um, it's the same way, you know, they're going after Gary Gensler. It's, uh, you know, get out of our way. The getting is good. What are you doing? Why do you want to, why do you want to label these securities? Which as a reminder, I mean, this is kind of a, in a, in a different vein, but it still speaks to the same overall sentiment that these people have where, hey, let business do what business is going to do.
That exact attitude and that exact kind of policy has led us to what we're dealing with now,
and I've said it before, with the microplastics kind of situation, where these same people
are harping on, oh, man, look what they've done, they've poisoned us.
Yeah, due to your lackluster amount of rules and regulations that allowed companies to just
poison water supplies and not have to uphold any kind of stringent rules around manufacturing
processes and all this shit.
It just, it really hurts my brain
to think about. Probably did all those damn
microplastic. I welcome them
though. They're swimming around in there. They're having
a good time. They make me happy.
You feel good about them. I feel good.
You want less government intervention.
Give me more microplastics.
Let the businesses pollute the entire
food supply with microplastics.
My balls feel full. Yeah. Like RFK
wants to get rid of the fluoride
in the water. And at first blush on,
I'm like, yeah, okay, fine, sure.
I don't need harder enamel.
Because that's the whole thing is like, yeah, we've got...
I genuinely have no idea what the fluoride in the waters...
Me either.
My dentist, I asked my dentist one time before he retired.
He said, yeah, it's mostly harmless.
They put some fluoride in the water to help the population's teeth.
And I'm also like, why do we...
Who cares?
Why do we need stronger teeth for?
What do we need a nation of...
People fucking give me a break.
Fluoride can be harmful if consumed in excess as it can cause a number of health issues, including dental fluorosis.
Skeletal fluorosis? That sounds spooky.
Neurotoxicity, genetic damage.
Anyway, yeah, I don't need it. I'll go get it when I go to the dentist.
Fuck it.
Hey, gang, we got to take one more quick break to thank our sponsor of today's show.
It's Moomoo.
we love moo-moo i use mu-moo you should use it too
whether you're a beginner whether you're a novice and amateur
all the way up to a professional
you really should be using moo-moo it's got everything that you could need
and more my favorite things you got great charting
you've got great news i mean news is everything
you got to be up to speed up to snuff on news
and you're not why are you going to go out and pay
subscription monthly subscriptions on some of these things
They're so expensive.
And you know what?
Something, Moo's got it right there in the app for you anyway.
For free.
They got so many major news feeds funneled right through the app just for you.
They've got Options Flow screeners so you can identify unusual options flow.
There were some that I saw just the other day in Super Micro that we're going to be talking about this episode.
There were some put options getting funneled into Super Micro, and then lo and behold, news comes out.
You could have capitalized on that.
I personally didn't because I was busy.
But they got that. And if you're if you're curious about learning how to trade, they've got paper trading. They've got low trading fees with zero commission on US stocks, ETFs and options. No minimum deposit requirement. Plus if you sign up, you get a hefty bonus. Yeah. If you're if you've been watching for a while, you probably know about these. But if you're new, you're going to be stoked on these, these welcome bonuses. The first one is the 8.1% APY cash sweep. You enroll and activate. You're going to get an 8.1%
APY for three months on invested cash.
The second one, this is my favorite one, up to 15 free stocks.
All right, you deposit $100 and you get five free stocks, deposit $1,000 and you're getting
10 additional free stocks.
And lastly, the transfer and bonus.
You can get a one and a half percent cash reward on your initial transfer amount,
up to $300.
Juicy, juicy, juicy.
Sign up for Mumu, go to the link in the description to see how.
Thank you so much.
Bye.
Well, all that is to say, it's just been very, it's been very sad for me.
It's, it's unclear what's going to happen.
Obviously, if Trump wins, she's gone.
Lena Cohen's gone.
The FTC is probably gone.
True.
As soon as Elon Musk steps in with Doge, the Department of Government efficiency, all those things are gone.
What do we need, what do we need people doing that for?
What do we need people trying to step in and make sure you can cancel your subscription,
your subscription you don't want anymore?
And also, the FTC has been very unfair to Trump.
They've been very unfair.
Yeah.
They've been very unfair.
But it's unclear what Kamala will do.
She'll be...
The only thing...
The one thing going for Lena Khan is the fact that even if Kamala wins, she's very fucked in that it seems almost certain that she'll lose the Senate.
So if she wants to...
She's going to have a very hard time, I think, bringing in her own personnel.
anyway, because it never used to be like this, but now with the way politics has become,
whoever the opposing party is, is just going to want to obstruct anyway. So if she's trying
to nominate new people, she's going to have a really difficult time. That's what's fun.
I mean, we can all agree that that's probably the best part about American politics is that
we don't have an ideology. We're just like, you know, I'd like to make you look bad.
Yeah. Oh, you won? That would be fun to me. You won? I'm just going to be a bitch to you.
you the whole time. I'm gonna be a bitch. But if Kamala steps on her own dick and makes a stupid
decision of trying to oust Lena Kahn, don't let people fool you. They're going to say, well,
she, you know, she had to because she would, she can't get Lena Kahn reconfirmed anyway.
Lena Kahn doesn't have to be reconfirmed in the Senate. So don't fall for any of this bullshit.
There's one pretty cool thing that Lena Kahn is responsible for recently that everybody will
appreciate, which is, you know how McDonald's
ice cream machines are always broke?
Broken? Did she?
Well, so the U.S. Copyright Office
had...
That was it, the right to repair?
Yeah, the right to repair thing.
The U.S. Copyright Office had just announced
this new exemption that grants small businesses
and franchisees the right to repair
certain machinery in their own shops.
And that would include the ice cream machines
that are in all 13,000-plus McDonald's...
Yeah.
Excuse me, locations.
And so, yeah, back in March, Lena Kahn's FTC submitted a comment to the Copyright
Office asking to extend the right to repair certain equipment, including commercial soft-served
machines.
I mean, this is the most frustrating thing.
Business will act like the government is getting in the way of progress and all these
things.
Yeah, no.
But they, if they had their druthers, they would set up the economy in a way where they're like,
you can't even fix your fucking machine.
Yeah.
There's this company, the ice cream machines are, I learned this the other day.
They're made by this company called the Taylor Company.
Great name for an ice cream company, by the way.
It's not appealing at all.
Taylor Company.
I kind of like it.
It's classic.
No, man.
Give me something like the ice cream company.
The machine's broken again?
The ice cream.
Call up Taylor.
Taylor Company.
And since 1950 fucking six, only they could legally repair.
Taylor Company could be the only ones that could legally repair Taylor Company machines
because they had licensed technicians
and if anybody without that license
tried to repair one of their machines
it would void the warranty
just like how it used to be the case
before you had Apple like third party
repair shops
if you try to do it yourself voids the warranty
and so the FTC said
hey this ice cream machine rule
kills competition
for replacement parts and for technicians
and yeah
it seems like just like you were saying earlier
she paid attention to the complaints she's paying attention she's got her her ear to the ground
and her nose to the grindstone i would say so both of those things yeah definitely man i would not
want my nose i think that's the the most frustrating thing like it are they are these extremely
simple things where you just go why does our why does our country work like that yeah and the minute
someone's like well it doesn't have to yeah billionaires are like we'll fucking kill you yeah we'll
kill you, bitch. Don't...
I think it's
unsuccessful at the moment
because they passed
the rule about non-competes. You might have heard about
how they were trying to get rid of non-competes. Yes.
I think they
crunched the numbers and it was
the amount it costs
American workers every year is like
in the billions of dollars.
They made a rule against non-competes,
huge win. I think a court in
Pennsylvania upheld it but then it got overturned
in Texas or something like that. So it's still in limbo.
But all of these, I mean, people should, it would take forever to read out all of the things they've gone after.
But you really should take a look at the way she, all these things she's fighting for.
Yeah, I wish she would next go after the terrible user interface on the iPhone voicemail.
Whenever you get a voicemail and you go to listen to it.
Lena, if you're out there, I'm sending you vibes telepathically to fix that.
but also fix the whole
enough.
The green text bubble thing
with Androids and iPhones
extremely anti-competitive.
Yeah, not cool.
Extremely anti-competitive.
She might be going after them.
I was just in a fucking group chat the other day.
One person out of like 20
had an Android.
So it fucked up the whole experience.
One person sent a GIF
and then I get so many texts saying,
so-and-so liked that thing.
Didn't they fix it with the RCH thing?
I have no idea.
I thought, I think with the new update,
they might have fixed it.
It's still going to be green,
but I think it'll interface like a iMessage maybe I don't know but yeah it's it's a bunch of cry babies
they Amazon and meta who were named in her in her law journal article have been every time they've
tried to every time the FTC tries to go after them they they say that she needs to recuse herself
from any of these things because she's biased it's like in what way that's the thing it's not
they're they're making it seem like she has a personal vendetta against them like she's a personal
bias against them. Like, she's like, as if she ordered something on Amazon and was like
complaining online, like, this company sucks. She just has an analysis of the law that is
unfavorable to them because they are clearly operating in monopolistic and, um,
and like, illegal ways. Anti-competitive ways. That's extremely frustrating and funny.
They've made a big stink about her even being allowed to be on some of these, uh, actions.
I don't understand. I mean, I do, I guess, but some of these companies,
it would probably benefit them
to be broken up
and sold off for parts
and like if Amazon
what's their cloud service
AWS if Amazon Web Services
was spun off into its own
entity oh dude hard agree
it would be it would be
I mean it's already a cash cow
it prints money
they're the big I think they're the second
I think Microsoft has the most servers
then it's Amazon
then it's Google
then it's
Apple hardly has any
I saw
like hardly fucking any
Ben's been looking at the data
not good
it's also crazy to think
I was I was looking at that
there was a chart
yeah Amazon has
one and a half million servers
Google has 900,000 servers
oh fate meta that's the other one
yeah meta is also one of the ones
with a huge amount of servers
but like what did we
what was the internet like
before Amazon Web Services.
Like,
because that's where
most of the internet
lives now.
It was just crazy frog
all the time.
What was that?
Is that what it's called?
Crazy Frog?
It's just mini clip games and...
Man.
The internet really was a different place.
It was a...
It was such a magical.
I don't recognize this place.
I want to go home.
I want to go back.
Yeah.
Well,
we do wish our gods...
Are we...
Was there anything else?
No, I just wanted to talk
about it now that it's a...
we're in a safe place to talk about.
And I hope if Kamala wins, she does the right thing.
Calm of La Harris.
Calm of La Harris.
Yeah, that's what I'd be calling her.
Well, so let's shift gears, shall we, folks?
He's clicking a firearm.
I actually didn't cock it.
Finger firearm.
I thought better, because I saw what they did to Mickey Rourke.
And I don't want the Secret Service shot up to that.
Oh, yeah, yeah.
Oh, we're going to, we got such a fucking great bonus.
you guys, you have no idea.
So this is one of my favorite stories
of the last several
weeks because it involves
a little bit
of classic
Chinese accounting.
A lot of people are wondering.
I'll let that simmer for a second.
Has been racist? No. Because here's
the thing. This is a well-known
truth.
If you say something about driving,
I'm going to be pissed.
What would I say about driving?
That has to do with China.
I don't know.
This is a well-known truth.
For Chinese companies that are listed in the United States, there has long been a trust issue.
Chinese companies have not been known to be trustworthy in their bookkeeping and in their accounting and their reporting and their reporting of.
their balance sheets and whatnot.
Is that not a bit of synophobia or is that...
No, it's a, it is a cultural...
I don't know if American business has been the most...
No, but it's the fact that America...
Because, I mean, a company still do it in America, absolutely.
But it is...
If you look at some of the numbers on some of these companies,
like, can you just Google BQ key statistics?
So this is a company that's like,
the Chinese version of Chewy, right? And it is currently valued at four and a half million dollars,
but if we scroll down just a little bit, let's see what they're... What a boring name for a pet
company. They're claiming over $700 million in revenues and $100 million in cash and only
debt of $67 million. So either the market is totally, totally wrong or there's something
fishy going on
this is probably a bad example
because there's others that
try IQ instead
he picks his own example
IQ well because it's been a while
since I've looked at
and then there you go
okay so here's a better example
IQ is like the Chinese Netflix
it's valued at $2.3 billion
dollars more fun names
it's valued at $2.3 billion
they're claiming revenue
of $31 billion
$7 billion in cash, $16 billion in debt.
It's just, I encourage you guys to go out and do some Googling on the phenomenon of American-listed China-based, Taiwan-based companies.
It's nothing new.
You want you to join the B&E accounting team.
Do your own homework.
Go start researching Chinese companies and let us know what you find.
And Super Micro is just the most recent very, very public iteration of this. So Super Micro is a company that has just, they've been around for like 30 years, 20, 30 years, something like that. The CEO is the founder. They are currently based out of San Jose, but he's, it's Taiwanese in origin. They've got a lot of, they've got a big footprint in Taiwan. But they've got a big footprint in Taiwan. But they make.
servers. They make server racks. And in particular, they make liquid cooled ones. Because,
you know, these things got to stay cool. Yeah. And Nvidia is their third largest customer.
They build out these invidia-based server clusters for AI and large language models and shit.
And Nvidia is their biggest client. They were valued at $700 or $70 billion, excuse me.
The stock went up 2,000% in the last two years.
And it was...
Yes.
And it was extremely fucking gruesome for me to watch because, you know,
before it split 10 for one, it was trading it like 45 bucks.
And it was at 52 week highs at the time.
And I thought, oh, man, I missed the boat.
And then it just kept fucking going.
It went from 45 bucks to 450 bucks to like 700.
And then they did a split.
And it was just insane.
and in March of this year
they were added to the S&P 500
which incidentally
marked the top for the stock
Whirlpool
The which is right when he got in
No no way
World pool
The appliance company was
Taken out of the S&P
and RIP
SMP. That's pretty good man
Wow that's very good
And Super Micro was added in its stead
And now they're valued at about
$13 billion
And so it's a little bit sketchy because it calls into question a bunch of things surrounding the hype with AI and Nvidia in particular because, as you'll see, as I'll roll this out for you, it is possible that there might be, this might just be a canarian in the coal mine, so to speak.
I don't because, man, that would be fucking bad for everything and everyone.
But I also kind of don't think that that's the case.
So.
You don't think that there's an AI bubble at all.
I think that there is, but I think the fact that Meta, Google, Microsoft, all these other
hyperscalers, as they're called.
Have bet their entire.
No.
It's that they're openly talking about, hey, we are buying as many Nvidia chips as possible.
So it speaks to the fact that Nvidia's numbers are actually legitimate.
Because if they weren't, it would be like, okay, then what the fuck is NVIDIA getting at here?
What are they, who are they selling to?
But all these other big, big companies are corroborating what they're telling us.
But Super Micro is kind of a...
But that doesn't necessarily...
I mean, whatever we can talk about.
Yeah, I mean, I agree with you that...
They might still be making a bet that doesn't pay off.
Exactly.
Overspending for sure.
But whether or not those numbers are legitimate, I think it's safe to say it's majority.
legitimate, except for when it comes to super micro.
Because of the Chinese accountant.
Well, allow me to explain.
So Hindenberg, who we know and love, sort of, they published a report in August alleging
all sorts of things.
They're alleging accounting fraud, corporate governance issues, and they had a three-month-long
investigation.
They said that they interviewed former senior employees, industry experts, salespeople,
who worked there, they were looking at records, customs records, and they found all sorts of glaring
accounting red flags, export control failures, customer issues. And they rightfully remind you
right off the top that Super Micro was delisted from the NASDAQ in 2018. Keep in mind, folks,
to be listed on something like the NASDAQ, you have to adhere to rules. You have to. You
You've got to have a certain stock price.
You've got to file regular quarterly and annual reports with the SEC.
You've got to be compliant.
You've got to follow these steps because otherwise, you know,
anybody in their mom can list a company on the NASDAQ.
Which I think should be allowed.
People in their mom should.
If you and your mom go down and you're like,
can we get listed, they should let you.
You can on the pink sheets, man.
You can do it over the counter.
Be on the NASDAQ.
Yeah.
So in 2018, they were delisted for failing to file financial.
statements and they were charged by the SEC in August of 2020 for widespread accounting
violations related to a whopping $200 million in improperly recognized revenue.
They understated expenses. So they did all of this stuff just to juice their numbers,
make their margins look better than perhaps they actually were. So that's fishy.
And what's especially funny to me is less than three months after,
that, they also had to pay a $17.5 million fine. Less than three months after that,
they started to rehire pretty much all the executives associated with and in charge of
overseeing all of that exact fraud. So they did not learn a single lesson. This just sounds
like an American company to me, to be honest. They are very much not. I understand that,
but... True. Yeah, yeah. But an American company, I feel like,
like would take their lashing and be like okay yeah we done fucked up let's um let's try especially
because they are so in demand they didn't need to be doing all this shit you had jensen wong
being like super micro does the best out of everybody that's why we're partnered with them
it's like why do you need to juice the numbers just a little bit extra dude so according
that's the whole game yeah i guess so part of the allegation
that Hindenberg is putting forth is that their sales team is doing channel stuffing.
So basically leading up to and into the end of every quarter, they're just pushing out as much
shit as they can to their distributors, partial orders, orders that contain faulty parts and
shit so that when customers actually receive them, it's like, it doesn't matter because
we've already recognized that revenue for these faulty things.
They've got three of their senior employees that were rehired were a member of the board of directors,
a consultant close to the CEO, and of vice president of business development.
Also, one of the board of directors is the CEO's wife, which is not kosher for having an independent board.
That's not cool.
At the B&E show, we are pro-wife.
We are very much pro-wife, but not-
For me, kosher.
Yeah.
You should be able to give your wife a job if you want to.
Yeah, on the board of directors.
Sure.
Where else am I going to put her?
The NASDAQ is very anti-wife in that regard then.
Which is fucked up.
Yeah.
Let me and my mom come in and get my wife a job.
So, very good.
They also had questionable related party suppliers, right?
Abelcom and Compuware are two such examples because they're controlled by the CEO's brothers,
which on the face of it, okay, so what?
This able-com and Compu-Ware are controlled by the CEO's brothers?
What's the big problem?
Well, the problem is that Super Micro provides Abelcom and Compu-Ware with components.
Abel-com and Compu-Ware take those components.
They put them together and they sell them back to Super Micro.
That's a problem.
What the fuck's going on there?
99% of those, according to Hindenburg, also, 99% of the export,
to the United States, done by Abelcom and Compuware, were to Super Micro.
So 99% of their business is just Super Micro.
Then you got to CEO's youngest brother, who owns two companies that make server components.
They operate out of the Super Micro Technology Park in Taiwan.
And they didn't disclose that.
Like, that's a huge thing.
They haven't disclosed any kind of transactions with them.
So it's just very fishy.
Like, if I own, if I'm the CEO of fucking Super Micro and I, we have our,
technology park and my youngest
brother runs a company based
out of that very technology park
that makes components and I don't disclose that
that's a red flag.
We're now anti-mom, anti-wife, anti-brother.
I'm keeping track. This is fucked.
So my brother can't even work in the technology park
with me. Ridiculous.
You can if you disclose it because you got to make
sure that... We're not the closing
disclosing shit, all right?
Well, it's thicker than water, brother.
Here's a big one also. They skirted
United States government regulations
and we're providing
vital computer parts
to Russia after Russia's invasion of Ukraine
and they did so via
all sorts of fucking back channel ways
including like Turkish shell
companies and stuff
and one of the biggest things
Tesla was using them,
Elon's XAI thing,
DigitalOcean and a bunch of other companies
have now since distanced themselves.
Tesla probably got them straight from Putin.
Never know, man.
But they've all switched
from Super Micro to competitors
Nvidia just the other day
announce that they're going to be relying on some competitors just to step away and mitigate
their own risk of supply chain issues. But so, right after this Hindenberg report drops,
Super Micro delays the filing of their annual report, which is a huge red flag. Right after that
report, they go, yeah, actually, we've got to delay our annual filing. That's not good.
We're going to have to go over some of these numbers again, actually. When a fucking multi-
billion dollar company that's been added to the S&P 500 has to delay a crucial annual filing like
that? Huge red flag. The market reacted accordingly in the stock dropped 28%. Then, as if things
weren't bad enough, the NASDAQ warned them that if they fail to provide an audited compliance
plan by November 16th, they will be delisted from the NASDAQ once again. And then to add insult to
injury, the Department of Justice is in the early stages of investigating them for some
shit.
Oh, oh, and the biggest thing, it's my favorite big, fat, fucking red flag.
Last week, the stock dropped another 33% because their auditor resigned.
Ernst & Young, one of the big four.
Yeah.
That's as big a red, that's, folks, I cannot emphasize that.
enough how big a red flag that is and how wildly interesting the fall from grace the rise to
prominence the darling of wall street for for the last two years has now given it all back and then some
that's why i'm getting in now because of some fucking accounting for let's see let's see if they
let's see if they i don't think that they reported just yet uh yep the stock is down 10% after hours
you know why because their trust is eroded nobody can trust these they need to get the CEO fired
they need an entirely new board of directors.
They need...
Full of wives.
They need...
Just their wives.
The all-wife board of director.
They need a new...
It's going to be hard for them just to find a new auditor.
Because clearly, the...
Ernst & Young said it was, quote,
unwilling to be associated with the financial statements prepared by management.
That's pretty sick.
That's their second auditor in 18 months.
Also, highly unusual.
I would say get in now.
Into Super Micro?
How much lower could it possibly go, right?
Plus, remember in 2018 when they had to leave the NASDAQ?
They're coming back, baby.
They did come back.
They did come back.
There was a guy whose name I can't remember who I was following on Twitter
and I really wish that I had listened.
He was pounding the table on it back then.
When they regained compliance, he was like, no,
this company is crucial to the whole supply chain, yada, yada, yada.
Dude made millions of dollars.
That's why I got my whole shit locked up in it right now.
Do you?
Yeah.
Once we start this...
I'm pretty big in the channel stuff in community, if you know what I'm saying.
Yeah?
I don't know what you're saying.
What are you saying?
I'm just like on the message boards and in the...
Stuff in channels.
But, yeah, I do remember one of the Chinese companies...
My first experience with the Chinese company was a solar company called LDK Solar.
And I remember looking at their numbers...
I'm with one cool name. I dare you, China.
Alibaba.
Fuck.
Yeah.
Baidu
I got got
Is Timu Chinese?
Timu is Chinese
Timu is owned by Pinduo Duo Duo
Well, I like that
PDD is their
is their stock ticker symbol
Butso
What's my take
Butso
Butso
Hey maybe that
I can name the dog
Butso
Butso
Butso
Butso
You know what's the worst
Dog name I've ever heard
What
Chonzo
no that's a real name and that's just a good one yeah go on uh i was living in brooklyn at the dog park
and a lady is calling for her dog named brooklyn brooklyn yeah that's the thing with naming a dog
is you you every single name is going to remind you of something or someone it's not it does for me
the name Jared
Subway
Yeah
Jared from Subway
Jeffrey
My uncle
Tommy
He's got nothing
Yeah no Tommy
I'm thinking
Well
Multiple things
Tommy Pickles
Which is not bad
But then I have an ex
whose husband
is now named
Greg
Greg
Just a bad dog name
All right
I want
I wanted to, I wanted to, Susie. That's a female dog name. My dog is a boy. It doesn't matter.
Oh, Susie's fine. I don't think of anything. Name your boy dog, Susie.
No, that's, that's misgendering the dog. One of a, I'm kidding. I was thinking butter, actually. We'll go over that and that bonus.
I, fostered a dog. Uh-huh. Nancy.
And you don't get to pick the names. Yeah. Her name was honey. And that's a good name.
It's, it wasn't. I would take her on hikes and she would start getting, and I just looked
like a man looking for my wife. Honey. Oh, yeah, yeah, honey. Yeah, look, Google says that
Susie is a feminine name and not typically used for boys. That's fine. That's true.
All right, let's get back on track. Sorry. The fact that the, I think that the revenues are
probably real in the case of Super Micro. Maybe there's some that are accounted for in
sketchy ways. Again, they need to fix that. And the fact that they've done this more than once
means they're coming back, baby.
No, it means that they...
Fool me once, shame on me.
Fool me twice. Shame on...
Ful me twice. I missed out on the bottom again.
But, so, like I said here,
the fact that they're Nvidia's third largest customer
makes it really, really, really questionable all around
regarding the true scale of the demand
for AI components and chips and all that stuff.
Because also, I learned,
Jensen Wong and the CEO,
of Super Micro have been friends and have
known each other for 30 years. If you
tell me they were working in the same technology
park, I'm going to throw my fucking computer
across the room. I don't think that they did.
And part of what's sketchy about
Nvidia, just as a side note, because
you know, the wives on the board. The wives
on the board and the brothers? Well,
yeah, I mean, the NASDAQ, they're
fighting an uphill battle because the NASDAQ
is famously anti-wife, anti-brother.
Anti-mother. Anti-mother.
You can't have these things. Anti-woman
and anti-brother.
But
Nvidia is invested
in a lot of private companies
that are also their customers.
That's sketchy.
Now you've got my attention.
Because as I was watching a thing the other night,
there was a company in the early 2000s
called Sun Microsystems,
and I remember it well
because it was one of the first stocks
that I learned about
because my dad owned shares in it.
Sun Micro had a similar hue.
They were one of the biggest winners of the dot-com bubble,
and they owned pieces similarly of some of their own customers.
But then when those customers aren't, you know,
as the ebb and flow of business cycles takes its toll,
those customers aren't doing as well.
Well, Sun Microsystems stake in that company doesn't do well.
then the whole thing just the whole symbiotic house of cards starts to kind of collapse and
have holes poked in it so uh yeah i was watching i believe his name is danny moses he's one of the
um big short guys was talking about this exact thing pointing out how invidia has these uh similar
type of investments and that you know there's been a lot of skeptics um that seems to in my mind
that makes me think that that lends more evidence towards it being a bubble yes exactly yeah
Yes, as soon as, because people we've even talked about on the show who seem very knowledgeable and smart who are, it seems like best case scenario that a few companies are going to actually make it through this and have some kind of real, useful, profitable AI product.
but all of these other people vying for a seat at the table are just going to fall away
because there's just too many people trying to get in.
And so when all these companies start to go away and it all just, you know, the foundation falters.
I think it seems like there's going to be reverberating effects.
Speaking of companies finding success, I just read about just under a for like, I want to say,
$650 million.
something like that there was a large language model that just got um bought up a legal
a legal text one a legal or illegal a legal like a legal documents legal text oh it'd be
cool it's just illegal texts like it's just the chat bot that is texting people stuff like
illegally you do you do the fentanyl yeah just trying to oh just trying to lure people
And that's my idea.
Don't take that.
I think...
Here's how you make a bomb.
Yeah.
Yeah, how to make a bomb, LLM.
And then, let's see.
So let's get to the last...
Speaking of also the marking the top,
Intel was just kicked out of the Dow Jones
and replaced by NVIDIA.
Well, come on, Dad.
Bring your mom.
Let's see if we can...
The S&P marked the top for old Super Micro.
I wonder if the same thing is going to happen with...
in video i doubt it uh this one's fun so don't don't be like scott murray right this guy
this is fun and funny be fun it actually is pretty funny so this guy was the ceo he was once
the ceo of a couple publicly traded companies and then in like 2007 he starts this uh he starts
this uh capital management company called trillium capital my name is scott murray i'm the
CEO and founder of Trillium Capital.
And this dingus...
Do you think it's a reference to the Hitchhiker's Guide to the Galaxy?
Ooh, maybe.
Are you Googling it without looking?
Yep.
Wow.
You can type without even looking.
Was it Trillium or Trillion?
Trillium.
Oh, then no.
Yeah.
Well, okay.
What was Hitchhiker's Guide?
He just typed in absolute garbage.
No, I didn't.
I didn't even...
Look, I didn't even spell anything wrong.
Oh, he did.
Hitchhiker's Guide to the Galaxy...
No, you wrote triulium.
No, I didn't actually.
Yeah, you did.
Well, you guys will never know.
Who cares?
Well, so it was in April of last year,
he decides to go out and buy
300,000 shares of Getty Images.
Because Getty Images was,
and I believe still is publicly traded.
And he starts issuing press releases
through his investment company,
and he starts sending emails
to Getty executives,
pushing them to sell the company
and also to add him to the board of directors.
He's going, please, please.
Seligetti, I think it'd be a good idea to sell a company.
Also, can I come be on board of directors, please?
And what about my wife?
And my wife, too, maybe, please.
She's really sweet.
And they say, no, don't you know we're on the NASDAQ?
It's a very strong anti-wife.
And don't even get us started on your mother.
And if your brother works in the same technology park, I swear to five.
I swear to God.
the Trilium Capital Technology Park.
So they reject him.
He starts losing money on his Getty shares.
And then he's panicking.
And so what does he do instead of just selling the shares and taking his loss?
No, he puts out another press release announcing that he is taking over a Getty for $4 billion.
He puts out this press release.
You can't buy me.
I buy the company.
Yeah.
Oh, so you're not going to allow me.
on the Board of Directors? Fine. I'll just
buy the whole company for $4 billion.
Whenever I get fired.
Turns out I just bought the company.
Yeah, actually, I just bought it.
I'm your boss.
Yeah. But what's funniest to me is that
Trillium Capital had a whopping
$20
on hand.
$20.
He's on his way there. He's getting
there. And that
press release did work.
His fake-ass release saying,
Trillium Capital is making an offer to Getty images.
I think I remember even when this happened because it caused Getty stock to spike.
And then he sold within two hours of that spike and made about one and a half million dollars.
And then so the story didn't go away like he had hoped.
News media outlets and stuff reach out to him.
They're interviewing him, asking him how he's going to fund the takeover.
And he just says, oh yeah, no.
This bid was real, for sure.
I'm really serious about it.
He starts checking his pockets.
He's like, oh, I mean, I thought I had a five and he were so.
I thought I had something.
He says he's got deep relationships in the private equity space to make it possible.
But then when it all came down to it, his lawyers said that he, quote, he offers no excuses for that conduct beyond the fact that he simply panicked and compounded his initial poor choices.
I love that.
I love it.
Yeah.
Your Honor,
he just panicked.
You know,
he made a bad choice.
And then it just compounded.
That should be a defense.
It isn't if that's his defense.
Well,
it didn't work.
Well,
it did to the extent that he only got 10 months and had to pay like $250,000.
Sure.
But it should get you off.
If I panic and then I'm playing ketchup and trying to fix that panic.
Sir, to be honest.
Sorry.
Like the I'm sorry defense should be
It should be legally recognized
I fucked up
It's just so funny to me that like I can't imagine doing that
Where I bought you know
A hundred thousand shares of fucking
Reddit and it starts going against me
So I'm like oh shit
The Ben and Emile's show is
We're buying Reddit
We're making an offer to buy Reddit
At $180 a share
And then that causes it to go up and I'm like
whew that worked
How can you not exist
This guy if you're smart
enough to have a capital investment company. Surely you've got to realize that there's going to be
consequences to putting out a fake takeover bid offer for a publicly traded fucking company.
Some of these guys, man, I just... But that's the thing. We talk about this so much on the show.
There's some kind of sickness. It's a, it's pathological. It's like, it's, you know, you're watching
Elon do it right now with so he was getting in trouble with those million dollar donations we were
talking about. He's getting in trouble for, you know, running an illegal lottery, doing all these
fucking things. And then, so he's just, now he's just bullshitting around it and saying,
oh, it's not a lottery system. And basically just saying he's committing fraud. He's like,
I don't know, then we'll delay him on the fraud charges. That's a whole new charge. And then by
that time, who knows? Maybe the election will be over Trump. We'll want to get a pardon.
There'll be a whole new DOJ. It's just, you can't fucking stop. I mean, if there's,
if there's one argument against billionaires, it's the fact that at a certain.
There's only one, and this is it. If there's going to be one, this is the one that I might choose.
And this is just, don't get mad at me because I haven't thought this through, okay?
Much like the Getty and the Getty guy.
I'm just talking.
He's panicking right now.
I'm panicking right now.
And doubling down and tripling down.
If there's one argument to be made against billionaires, it's the fact that if you can
accumulate so much wealth so as to become untouchable by fines and all sorts of, like Elon Musk,
he can do whatever the fuck he wants.
because what's going to happen?
Oh, they're going to fine them $500 million or a billion?
That's a piss in the bucket.
Kamala's going to get elected and then he's going to go to jail or worse killed.
He's not going to, that ain't going to happen.
That ain't going to happen.
Oh, oh.
Just speaking of the brain, the brain, the brain, something's wrong with these guys fundamentally.
The brain, brain, something's wrong with these guys.
Something's wrong with these guys fundamentally.
We all remember the guy who sailed the 20 footer, the 180 footer.
Oh, yes.
Well, we all might not.
It was on a different iteration of this show.
Yeah, that was one of our very first episodes.
James Cordier.
Because there's nothing we love more than a fuck-up.
Than a crying billionaire.
Oh, dude.
Well, this guy's not a billionaire.
That's the thing.
That's true.
Even worse.
You're going to cry with not a billion dollars.
Yeah.
This was a real special one, folks.
And for those of you who don't remember or maybe weren't around for one of our earliest episodes,
there was a guy named James Cordier,
and his entire business model,
he ran a successful fund wherein he...
Not to be confused with other notable sicko, James Corden.
Oh yeah, that guy's a sick freak.
James Cordier had a fund.
I won't go into the specifics,
but he was constantly shorting natural gas.
And he was doing it unchecked, unhedged,
basically with no safety net in place.
To the extent that if and when natural gas had a sudden spike, he would be not only wiped out, but like end up owing more money on top of that. And that's exactly what happened, folks. He lost all of his client's money. And to add insult to injury, they then owed more on top of it because that's how irresponsible he was being. So he lost everybody's money that he was managing. And he put out this famous apology.
video wherein he's just looking to the camera and he cries about how sorry he is.
He's the captain of the ship.
I'm sorry.
I didn't get to take you out on the boat.
It's really something to behold.
Should we watch a little bit of a little bit of it?
It's just so long.
It is long, but we'll watch a little bit of it.
We're at the end of the episode.
C-O-R-D-I-E-R.
Maybe we can maybe Google.
or YouTube has that little part
where it's most watched
and it's just him crying.
Yeah.
You'll see.
I want to thank you all
for becoming part of our family.
I wish you all the best
because every morning
when I woke up
and I checked the markets
and my wonderful wife
made his dinner.
I took my laptop
and sat at next to me.
Why is it next to you?
I was sipping a glass of wine.
Why are you drinking wine?
Because I want to check on the markets and make sure that they were okay.
It's like checking on a baby.
I am so sorry for not managing our ship and keeping her afloat.
I bid you great luck and good health.
And please feel free to call her office if you'd ever want to speak to any one of us.
I mean, that's just one excerpt from a very long apology.
video detailing. He doesn't even detail how he fucked up. He's just like, I fucked up and I'm so
sorry. And he calls out specific clients by name. Anyway, he wrote a book. It's called like
Confessions of an Options Seller or some shit. And yeah, I'm curious what is what the Amazon
page looks like on this thing. Let's see. Yeah, there it is. Reflections of an option seller,
that third one. Oh my God. Click on that. Oh.
on the cover? That's crazy.
Yeah.
He's like, remember my crying ass?
Turns out I'm not crying anymore.
Yeah.
Wow, they erbrussed the hell on his face.
Can he say it on him again?
In his memoir, Cordier takes readers behind the scenes of his life and career,
sharing invaluable insights and hard-won wisdom gained from nearly four decades of experience.
He delves into the challenges and triumphs of building Optionsellers.com,
one of the most innovative and respected firms in the industry
and candidly reveals the untold story of its downfall in 2018.
I kind of want to read it, to be honest,
to hear talking about, oh, shit, oh, fuck.
What are some of the rating?
224 pages, you know that, you know that.
Dude, that's a short-ass read.
You know that text is big as hell, too.
Oh, yeah.
Man, what a dingus.
My beautiful wife.
Go to the one-star.
Yeah, go to the 4% of the 2-star reviews.
This book.
Good information.
All right.
just do the comments of the week.
Yeah, let's do it.
Why not?
Shall we?
We shall.
First comments of the week, a bit disturbing.
If you remember, I had a little bit of makeup on last week, and Tigris here says,
can't help but imagine Emil just got done chowing on my hole and didn't have time to clean himself up.
That's one of those ones you see on there that usually has no likes.
For some reason, that one has 19 likes.
Yeah, that's tough.
Here's one from Jules and the vibe.
Emil is just a camp counselor
Desperately trying to wrangle the kid
Who refuses to take his ADD meds
I assume that I'm the one
Who is the kid who refuses
To take his ADD meds
This one, we're gonna need some clarity
I want to kiss the cute one
And kill the ugly one
That's by Pilgrim. Pilgrim, who's who?
You know you're the cute one, dude
You think so?
Everybody calls you the hot one
But you might be the cute one
And maybe she really dislikes the way I look
We don't know what Pilgrim's gender is
It's true
Cancel hands
cancel him
all right folks
well
listen I just want to say
I hope that no matter what the outcome of the election
you're doing okay
and you find solace in this week's episode
I really really thank you for watching
or listening if you're out there
and
and for those of you who are in the know
I will see you at Tesla headquarters
in Austin on
Friday
This motherfucker
I call it Tesla
Anyway, we'll see you there
Oh, you're coming
Yeah
I just cocked my invisible
firearm
No, I didn't
I didn't do that
I didn't do that
He didn't
He was playing with his hand
I was playing with my hand
Anyway, we'll see you next week folks
Thank you so much
Bye
God bless and good night