The Ben and Emil Show - PP 19: Elon is in Trouble

Episode Date: October 26, 2023

Did widdle Ewon Musk almost cwy on da confwerence caw fo Teswuh? Looks like Elon also shot up a cybertruck with a tommy gun (so cool!). Also MEETKEVIN, one of Elon's biggest fanboys, has turned on him......along with many others. Cathie Woods still loves him though. We've also got BLACK MONDAY to talk about, BITCOIN rallied on news about a BTC ETF, Pfizer's insane pricing for Paxlovid, and finally, Americans are increasingly falling behind on their car payments. Is this something to worry about? This episode (and every episode) was masterfully edited by Dillon Moore. Check him out at https://www.dillonmoore.co Get bonus content on Patreon Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Starting point is 00:00:00 This week on Pepeg's pod, we're talking about Elon Musk and why he's being a big cry baby. Who almost cried like a baby on the Tesla investor call last week. Plus, he shot one of the new cyber trucks with a Tommy gun because he's a big dork. Turns out Black Monday didn't happen, but will it soon? Yeah, who knows? Will it? It's probably when you least expect it to come. That's the way these Black Monday things are.
Starting point is 00:00:23 That's what they say about Black Monday. Yeah, it's when you least expect it. You're hoping for a Green Monday, and then it's just black, and you're wishing that stocks weren't going down. And we've got our first crypto corner in a long time. Bitcoin shot up. We're going to find out why. Yeah, it's pretty exciting. That thing just went sky high. 10% that thing shot up because of some reasons that we'll get into. Plus, bad news. Americans are missing their car payments. Are you American? Yeah. This next thing could affect you. Are you one of the over six percent of Americans who has missed their car payment recently? Are you an American car owner? And also, some of you people are
Starting point is 00:00:57 paying like over a thousand dollars a month for your car payment do you do what are you doing i i do you want the the repo man to could do you look forward to that confrontation of the repo man coming and knocking on your door at 2 a m and you come outside and your boxes and a t-shirt going hey what that's my car and then the repo guys like you should have paid your bills she paid your $1,600 a month bill yeah for your giant ram charger defender f-150 lightning truck cue the intro I'd like to try to sell something to you. There are all missions, there are no questions. It is the rest.
Starting point is 00:01:45 T-tribles, un-tallones, lots of dollars, like marks, waves, rules, pounds, and sex, sex, sex, sex. The number of the same. College, Incorporated. Hey, everybody. Welcome to episode 19 of the Pay Pigs Podcast. I am Ben.
Starting point is 00:02:07 I'm Billy Baldwin. That's Billy Baldwin over there. We got, before we get into it, we've got some administrative stuff to cover up top. We have a very special bonus episode today coming to you. We're doing our very first call-in Q&A. So if you want to partake in next months, be sure to check out our Patreon. where you can submit your phone number. We're going to be calling you.
Starting point is 00:02:31 And where do you find that? That's at patreon.com slash paypigs pod. That's right. We also have, speaking of Patreon, since we added a whole bunch of stuff to our tiers, we have my TikTok roundup coming soon. We're going to be recording it this week to post for the month of October,
Starting point is 00:02:50 wherein I show Emil all my favorite TikToks for the month. I'm so stuck to see what you come up with, you crazy coo. Because usually we would do it just in the bonus episode, but this time we're not going to do that. We're just going to dedicate an entire thing. It's going to be its own separate thing. And also, there's a whole bunch of fun videos on there already. You want to catch up.
Starting point is 00:03:06 Yeah. Last week, one of my favorite bonus episodes. Yeah, it was actually, yeah, it was probably one of the best ever. We also just did our monthly movie night, which is another new thing that we've added to the Patreon. And that was really fun. We actually haven't recorded it yet. We're going to record it tomorrow. Are we watching Chapie?
Starting point is 00:03:22 I don't know. Maybe. Tapie would be fun. Tappy might be the. the movie that we watch, but you'll find out Thursday if you, or Wednesday night. So yesterday for you guys tomorrow for us, which is always confusing. And this is your reminder for the audio listener to remember to check out our new weekly show on YouTube, Ben and Emile On. Oh yeah, if you're just like a Spotify king or queen, you got to take your ass to YouTube and see
Starting point is 00:03:47 what we're cooking up over there. Yeah, it's a great, it's groundbreaking, it's revolutionary, people are saying lots of good things about it. The last I heard was, someone said this changes everything. Yeah. So we'll let you decide for yourselves, but it's on YouTube.com slash paypigspod. It is a certified hit. So let's get right.
Starting point is 00:04:09 It went gold in Australia. It went gold in Australia, which is like going bronze here. Who can be sure? Do you hear about that Australian woman who opened a sushi restaurant to the chagrin of so many people? Yeah.
Starting point is 00:04:23 And then it backfired on those people who like called her out and now it's popping. Well, it was one guy who is a different chef, I think. I did not look into this, really, but I just saw people getting pissed about it. But, yeah, apparently he was doing the same thing, too. He was, like, doing, like, Peruvian-Japanese Fusion or something like that in, like, Asheville, North Carolina or something. My head almost exploded.
Starting point is 00:04:44 I mean, it almost explodes on a daily basis, but I'm excited to check it out. Where do you guys find the time? Every day, you guys log in, and you're like, today I just want to be the cops. I just want to be an internet cop and make sure no one's doing anything that makes me mad. That's what makes life beautiful. You've got to mix it up. I want to try the Australian girls sushi. It looks good.
Starting point is 00:05:09 I think, you know, that woman can do whatever she wants. But when her defense, the whole thing of like Australian sushi or whatever. That's a thing, apparently. It's true. What is it? It's, they make like chicken schnitzel wraps and all sorts of shit. Yeah. Because it reminds me, do you remember why?
Starting point is 00:05:24 there was a, this was probably like 2015 to like 2018 sushi Ritos. Margarito sushi? No, no. Sushi Ritos? Like Doritos? Like burrito sushi.
Starting point is 00:05:38 Oh yeah, yeah, yeah. Which is just the grossest thing. Yeah. Yeah, it sounds like shit. Just a huge thing of rice and fish wrapped in seaweed. I'm actually all set. Thank you.
Starting point is 00:05:48 No, thanks. No, thank you. So when she said Australian sushi, I was like, I don't know what you're doing, but. babe keep it to yourself well the other news up top Vladimir Putin done had himself a heart attack a lot of people are pointing fingers at this podcast and yeah we didn't do anything but we are going to send him some mail we've got a little get well package we've put together that we hope
Starting point is 00:06:13 that only he opens that's the thing is it's all it's for his eyes only he's got to open it first On the package, make sure Putin opens this. Yes. In Russian, we wrote it. And in Russia, you have to follow those instructions when it's on your mail. Yeah. Man, that Russian language, when it's written out, it just looks like someone was drunk trying to write English. Like a Cyrillic alphabet?
Starting point is 00:06:36 Yeah. It just looks like someone, you know, you got the backward weird A and B's and stuff and the P's. Do you think that's what happened? Too much vodka. Too much vodka. Too much vodka. but we do wish him a speedy recovery and a speedy opening that package yeah open up that package you're going to love what's inside it should be there in looking at my watch soon soon i i got to
Starting point is 00:06:59 send the tracking number but speaking of guys we love speaking of guys we love this might be our number one yeah Elon must true true crush my true love a lot of news this week we just we couldn't avoid him, and we know that some people love when we talk about Elon. We know that some people hate it. But we're going to try to actually remain as objective as possible here, which is something I'd like to strive to do. And this isn't a Dumer episode. We're not taking the black pill. I'm taking the Diet Coke pill. I'm taking the white pill. If they made, what's the white pill? It's for my heart. Oh. There's statins. So that you don't. Do you take statins? No, no. My cardiologist recommended it, but I'm not going to do it yet because I don't want to be on no drugs.
Starting point is 00:07:44 Yeah, well, so Elon first, he, as we know, once a year, Wikipedia does their fundraiser. How do you say Wikipedia? Wikipedia? Wikipedia. Wikipedia. Am I saying it wrong? What do you say, Wikipedia? Kind of.
Starting point is 00:08:02 Wikipedia. That's fine. I think both are accepted. Yeah, yeah, sure. We can search on Wikipedia to see how it's... I just never heard such a long eye on it before. Wikipedia. Well, so Jimmy...
Starting point is 00:08:14 Wales, who's the founder, every year they do, because it's a non-profit. They rely solely on donations from people. And Elon, for some reason, since he's the main character of just the world now, I don't know what is, what is his beef with Wikipedia? Oh, I didn't know he had any. I thought he was just being fun. Oh, I thought that he was talking shit. Because he said that he would give Wikipedia a billion dollars to change their name to
Starting point is 00:08:43 Dickapedia. This is just on brand for his childish humor, I think. I think he likes. He just, yeah, we got the tweet pulled up here. I will give them a billion dollars if they change, if they change their name to Dickipedia. Dickiepedia. Dickipedia. Please add that to the bullshit on my wiki page.
Starting point is 00:09:03 Ah, oh, in the interest of accuracy, he goes on to say. So I think he's probably against it, against Wikipedia because anything can go on there and say anything about him. Right. Which is kind of a giant community notes, which is a feature on Twitter that he stands by and advocates for. Which it's kind of been a mess lately. I don't know how, how do you even, I don't even know how to submit to community notes.
Starting point is 00:09:27 You're probably banned. Fuck. Again. Talking shit. Dylan, didn't you get banned from Twitter once? No. No? Okay.
Starting point is 00:09:36 Food God blocked me once. Food God? Oh, that's right. Oh, God. I remember that guy. That was fucking disgusting. So that's probably what you're thinking about. Yeah, I think that that's what it was.
Starting point is 00:09:46 Shit. But it's just kind of, how dystopian is it that the guy with more money in the world than anybody by far, head and shoulders above the rest, is mocking like this totally open source community, humanitarian,
Starting point is 00:10:06 everybody's sharing knowledge, and he's out there just. Because he's the one with all the answers. Don't go to, That's true. Don't go to Dicapedia when you got me. Well, and he wants his site to be the, like, he keeps touting that, right? Like, we strive to be the journalistic source for everything.
Starting point is 00:10:23 We strive to be like where you can get all your information. Meanwhile, it just fucking sucks. Like any tweet worth while you click on it, there's just a bunch of guys with blue check marks going like, suck dick, loser. You're like, cool. They used to be like, there used to be like a rebuttal to stuff. And now it's just like. The algorithm.
Starting point is 00:10:41 them is broken for sure but I guess part of his thing was I don't think it's broken I think it's working exactly how he wanted it which was to if you pay your eight dollars a month will boost your right moronic use um he said that he doesn't understand why they need money because him being so simplistic he said you can fit the entirety of Wikipedia on your phone which is true if you did just text only and you did English only but then It's like, my man, don't you understand that there are such things as server costs and upkeep and all sorts of shit like that? It's not like it's... I don't know if he does understand that.
Starting point is 00:11:20 Someone who just, uh, he's getting like, he's getting like eviction notices because he didn't realize he had to pay the rent at, at Twitter headquarters or now X. He doesn't seem to understand. Remember he put up the big X thing? Yeah. It was just completely in violation of all these codes, building codes and everything. And they're like, you got to take that down. But that's what Rock. about being worth $200 billion
Starting point is 00:11:43 is you can do shit and they find you an amount that would otherwise bankrupt companies or individuals but he can just you can just piss on it. That's why he mockingly referred to the SEC as suck Elon's cock.
Starting point is 00:11:59 Because they'll find him it is pretty cool actually because they find him $20 million and he's like I don't give a shit. But anyway, Tesla reported earnings last week. Yeah, this is the real news.
Starting point is 00:12:12 Yeah, and... He wasn't very happy. He wasn't. He did not sound good. They have an interim CFO who is just probably one of the most boring motherfuckers to exist in this world, and it didn't elicit a lot of hope for the Tesla perma bulls who believe in the company no matter what. And I just got to say, I mean, obviously Tesla made a lot of people into multimillionaires.
Starting point is 00:12:41 from being a shareholder, you could have bought, you could have $1,000 X to your money. And I can't not say that if I were in that same position, I would drink. Yeah, but some of them are now pissed. Yes, very pissed. So this inspired one of the funnier headlines I've seen about him. Elon, this is from Yahoo Finance. Elon Musk acted like a little baby and was almost in tears on Tesla's terrible earnings call analyst. says that you know who it is that analyst meet kevin how did this guy become an animal because i think
Starting point is 00:13:15 he got in early on tesla he did he made millions of dollars and then and then um but and that's all you need right you all you just need that one good call yeah and then all of a sudden you're an analyst um but he is someone who is now going like what the fuck is he doing yeah all my wealth is wrapped up in this i made one good call so before before we get into that real fast didn't need to jump ahead well no no Actually, we, I mean, we can. Well, let's talk about what actually, you know, happened with his earnings call here. There's probably the biggest thing is the big dip in profits. Yeah, their profit margins have gone down.
Starting point is 00:13:50 It was last year was $3.3 billion at the same time. Now we're at $1.85 billion. Total gross profit declined 22% year every year. However, they made $500 million in extra profit from their energy business, which is just starting to show signs of strength. A huge thing. They've got $26 billion in cash in, like, no debt, which is huge. I mean, hey, who wouldn't love that?
Starting point is 00:14:16 With all of their projects going on at the same time, particularly what they're doing with AI and full self-driving, you can run through $26 billion in just a couple of years. Couldn't be me. With all that R&D. What would you do with that? I wouldn't know what to do with it. Yeah. No way I could run through it.
Starting point is 00:14:32 If you were Elon, I'd just do stock buybacks or something like our dividend. Jesus Christ. Another big thing for them is the cyber truck. that they, you know, it has been like four years in the making now. I mean, it feels like, remember when he smashed the window? Yes. It feels like, that feels like a lifetime ago. So yeah, I've been hyping that since 2019.
Starting point is 00:14:53 Yes. They now are saying they have an initial delivery date for this fucking truck. They've got November 30th. But, I mean, we'll see. And even if he said once we start delivering these trucks, they're looking at about 18 months before it's even a, you know, significant cash flow computer. Yeah. So that's the thing is, it feels like he's finally, part of the mythos of Tesla and Elon was he had the luxury of being able to make all sorts of outlandish claims over the years
Starting point is 00:15:29 because everybody was giving him the benefit of the doubt, right? Right. But now that they've become a lot more established, people are now kind of catching on. Like, you can, just see a lot more people talking about it. You can see the likes of this meet Kevin just starting to kind of see through, see past the bullshit. And so one thing that he told investors on this conference call was to not expect high production volumes, low prices, or profits anytime soon on the cyber truck, which is just, you know, it's something that in 2019 he announced it and was like, we're going to be able to do this, this, and we're going to be able to manufacture a ton of he's just going to make a ton of money but now he's got to kind of rein that in and i'm pretty sure
Starting point is 00:16:10 he said the price was going to be thirty nine thousand nine hundred dollars which is there's no fucking way yeah and we were just before we started recording we were just seeing that uh the cyber truck according to internal tesla documents weighs between eight and ten thousand pounds a fully loaded four to f one fifty i think max is out at a little over five thousand pounds well and that's the other point i mean he's been getting his lunch eating a little bit too well all this is going on, right? The Rivian R1T came out. Ford came out with their F-150 lightning. And so, I mean, there's just, he says they still have a million of those pre-orders. Yes. Where you pay a refundable $100 fee. Right. But their Texas plant has the capacity to only make
Starting point is 00:16:57 $125,000 of them a year. So Jesus Christ, if you're one of the last people on the list, I'm not going to hold on let tesla hold on to that cash deposit i'm going to fucking take my money back right go get yourself a ford lightning go get yourself r1t in 10 years wouldn't the newest wouldn't you like i don't understand how this works where if you keep the uh you get if i make a deposit today for the for the for the 2020 cyber truck i can't imagine all those people are serious yeah no because i think the deposit was really low too it's a hundred bucks yeah and it's refundable see now that's a way that that that's another one of the ways that they game it. Oh, fully. You, you tell people, you tell investors, we have a million people waiting. Yes. There's no fucking way. That's what's so
Starting point is 00:17:45 frustrating is like they promise these pie in the sky things. So he goes on to say that they made this prototype. He said that making prototypes, which is what Tesla's been doing with the truck for years, is easy. But making the production version for sale to customers is 10,000 percent harder because the truck is so, quote, radical and special. I think he meant, radical in like a ground-based breaking. You've never seen anything like this before. And honestly, it's, there are some things, maybe we haven't, but like, I think he's missing, uh, part of his brain. I think he's missing what drives the man for a car and a truck a little bit. Like, I think there's probably a small, like small portion of the, the Elon fan base who is going crazy
Starting point is 00:18:34 about some of these things, but, you know, we couldn't stop laughing about the bulletproof. People are talking about how it's bulletproof and he's claiming that he unloaded a full clip
Starting point is 00:18:43 from a Tommy gun into the side of it. And, you know, you can pull up the, you can pull up the video. There's video of it driving with like, um,
Starting point is 00:18:51 dents from bullets, but apparently it didn't puncture thing. And everyone's like, oh my God, so epic. Yeah, here, look at this. Look, cyber trucks seen on the highway, potentially gone through bulletproof testing. And then Elon replied,
Starting point is 00:19:04 We emptied the entire drum, we emptied the entire drum magazine of a Tommy gun into the driver's door, Al Capone style. No bullets penetrated into the passenger compartment. And it's just like, I don't know how many people are out there going like, but can I empty a Tommy gun into this fucking thing? Yeah, I think that's one of the things is you can brag to your boys about, yo, this thing's bulletproof also. I can't wait till people buy this fucking thing and they tell their friend to shoot at it. they're sitting in it and people fucking start dying. I can't wait till... There's no way that...
Starting point is 00:19:39 I can't wait till people have serious problems with stopping in time, like killing people accidentally and their brakes and road... Like, the stopping power you need... You need to know how to stop a 10,000-pound vehicle. It's not the same as stopping a fucking Yaris or something. I don't think Yaris drivers are getting behind the wheel of... Well, they're also getting fucking penetrating. traded by bullets, too.
Starting point is 00:20:06 They got bigger issues. Also, we're being generous here. We haven't even mentioned how ugly this fucking thing is. Oh, yeah, God. Have you ever had a stainless steel appliance? You rub that thing the wrong. They urge to drive a whirlpool dishwasher. They scratch so easily.
Starting point is 00:20:24 You got to like wipe it with the grain. I don't know. It's just, I think that it's, uh, it was one of his fucking drug-induced ideas that turned into this nightmare shit show. Oh, truly. I think, like, he probably wakes up in, in a sweat sometimes thinking about when he first announced it in 2019, just going, fuck, I can't believe we have to release this goddamn car. The people have chimed in multiple times about, oh, sorry, go ahead.
Starting point is 00:20:50 No, you go ahead. Bitch. He said they've dug their own grade. Yes, yes, yes. Because it's, yeah, it's like, it goes back to what he said about, it's one thing to make the concept, but to make the. prototype but then to ramp it up like well so that's my man that's like car making one-on-one right we dug our own grave with the cyber truck he says it himself right yeah so that's one of the things
Starting point is 00:21:15 let's play let's play this fucking meet kevin guy oh well that's the thing like the headline is so funny and when you first see it you go god that's so beautiful but this guy's you know just as i don't i hate this guy just as much as so for the audio listener i'm just going to try to paint a picture for you um you know how people describe Dorks as being a tool or a tool bag This guy's like The whole damn shit He's Home Depot
Starting point is 00:21:41 He's that big of a tool He started out I don't even remember at this point How he started out Doing real estate shit with that's He calls himself I believe the first landlord influencer And he's made
Starting point is 00:22:02 I mean you got to hand it to him he's made a full-on career he's rich as hell yeah and um he's wearing uh he's wearing a a shirt and tie with a new york stock exchange puffer vest over it and um he's really just become a spokesperson of a person yeah that that's his whole thing is just he is tv ready he's got plenty of media training he knows exactly how to talk on camera And it's just so funny and plastic. So let's just play the clip from this interview he did on Yahoo Finance. And Kevin Paffrath, financial analyst and YouTuber, meet Kevin.
Starting point is 00:22:46 Good to see you, Kevin. So, I'm so good to see you, Kevin. You're so welcome. She's probably giggly because she knows he's a fucking dork. And she's like, okay, cool, I've got a match. Look at his cheesy smile. I mean, again, good for him. Yeah, yeah.
Starting point is 00:23:03 Yeah, we're very happy for me, Kevin. We're very happy for him. This was not the earnings call that people were expecting. I mean, we're used to the kind of must that we see on X who sort of dips into everything. But this was an earnings call. What were your big takeaways from this? Oh, my gosh. This was terrible.
Starting point is 00:23:19 I feel bad for him. Look, he's got a lot of things going on, legal battles, custody battles for his kids now. But it doesn't justify acting like Trump on Twitter, stonewalling the SEC or the European Union. and quite frankly, turning into a little baby on the earning skull. I mean, do you think this guy talks this way, like, out with his voice? Guys, you know, I'm thinking that we got to get shots and beers, and then we're going to go talk to those girls, okay?
Starting point is 00:23:48 So the thing is with girls, the way you have to talk to them is you've got to go up and say, what's up? You've just got to say something to get the conversation going. I've already seen the clip, and honestly, as soon as he started talking, I was like, oh my God, I forgot it's like that. Yeah. So you call them a baby.
Starting point is 00:24:06 Almost in tears, it showed a complete lack of leadership. Tesla's a leadershipless company right now. And it's terrible. That's why there's CFO just left, I believe, as well. And this is a slap in the face to everyone. It's not just the shareholders, but it's a slap in the face to the other managers who are still there and the over 100,000 employees at Tesla. I like his take down because this guy has been the most.
Starting point is 00:24:31 Elon Musk can't do any wrong guy. Yeah, because he was making him a lot of money. Yes, making him a ton of money. Now he's never, he's not going to make him as much money. It's just interesting to me that because he made so much money on one, essentially one company over the last few years, he's now marketing himself as this Wall Street guru type, like with just the way that he's dressed, the way that he speaks. I just, I got to hand it to it.
Starting point is 00:24:57 He's really, he's really good at what he does. But so then there's this other. let me fast forward to this clip but I guess the question to use does that long-term play for EV demand does that remain intact still because one of the things that he was talking about
Starting point is 00:25:14 is Elon expressed a major concern for the macro environment right with the higher interest rates it's going to be more expensive for people to buy cars not only that it's going to be more expensive for them to do all these things they want to do so he's like
Starting point is 00:25:27 yeah I don't know if you're if it's going to get to that but oh yeah he he he He answers her right here. I thought it was a great answer. Absolutely. 100%. Long term,
Starting point is 00:25:37 five, ten years down the road, everybody's going to want an electric vehicle. The range won't be an issue. There'll be charging stations everywhere. You'll be able to charge faster than you can fill up your tank of gas. These cars are much safer. They're much less likely to catch fire.
Starting point is 00:25:48 They're much less likely... Much less likely to catch fire? I don't know about that. I mean, maybe he's right... You don't have fuel in the back of your car. You don't have fuel in the back of the car. gasting. These vehicles are phenomenal. The acceleration's better. The handling's better. Everything about electric vehicles is better. The problem is you have, you know, Elon acting like Trump on
Starting point is 00:26:11 Twitter and he's really frankly upsetting a lot of people. There are a lot of especially women, which is another demographic. Elon should be playing towards upset and who would never touch a Tesla vehicle. So I'm very frustrated with Elon, but long term, EVs will be dominant. I feel like he's right. Long term, they're probably the way to go. company is shifting their production to that. I mean, you know what I'm going to say, right? Long term, the way to go is public transportation, trains, build the trains,
Starting point is 00:26:41 as we say. But yeah, he's got quite a bit of, I don't know if we mentioned, he's, so another one of their problems is they slowed down production so they could update facilities. And he's, Tesla's in the process of building a Mexican facility that's costing them $10 billion and he goes half of their cash he's basically deciding whether or not you know to delay this if interest rates keep getting hiked which they might Jerome Powell just said you know not off the table but they're like this is just going to get it's going to be untenable it's going to be too expensive to do um he talked about robo taxi because that's a big big thing um this is from
Starting point is 00:27:25 the conference call wet dream Kathy Woods oh man she just fucking She's another one whose brain is broken. He made so much money from this guy one time or a couple times that she's like, oh, he's the second coming of Christ. But he was saying that he's very excited on the progress with autonomy, end to end, nothing but nets. Self-driving is amazing. He apparently gets driven all around Austin with zero interventions, so he says.
Starting point is 00:27:54 And he says it's clearly the right move. The same software approach will enable, Optimus and do useful things. It'll learn simply by looking. This is Optimus, the humanoid robot. He said that robot can break the economy and that they are the most ahead, even though they just started working on it. He says that Boston Dynamics is impressive, but it lacks a brain.
Starting point is 00:28:17 Jesus Christ. At some point, the robots will manufacture the robots. Need to make sure there's a good place for humans. I mean, sure, down the line. I think this is the AI thing and the robots, are his next grift that he can promise as being a few years away. Yeah, he said they have a supercomputer that's going to blow everyone away. Yeah, that's his next thing to promise everybody the world.
Starting point is 00:28:39 And then in a few years, be like, well, we're still working on it, but we're making great progress. And you should see this shit. They ask, will Optimus be working on factory lines in 24? And he says, at this point, they're not ready to discuss details. It could barely walk. Now it can do yoga. A few years from now, it can probably do ballet. Who the fuck gives a shit?
Starting point is 00:29:00 I actually want to see it do ballet. Also, if you've seen the Boston dynamics, those motherfuckers have been doing gymnastics. A pack of those dogs killed my whole family. They put a gun on one of them. Put a gun on top of it. Someone did that. Yeah.
Starting point is 00:29:14 Oh, wait, was that the guy who put a gun on a drone? The same guy? I don't know. But I definitely remember seeing one of those dogs just like taking shit out. Yeah, that's kind of cool. I mean, I'd rather get shot by one of them. I hope one of the dogs kills me. I wonder what futuristic way we're going to die in.
Starting point is 00:29:33 Are we going to die by robot dog? Probably. Like if you believe in causal determination. When the robot dog comes knocking. I'll open the door. I'll pet it on the head. If it's my time to go, I'll go down swinging. The robo-taxies is one of the things that he helped sell Kathy Wood on.
Starting point is 00:29:56 and he was asked about that and he said the economics of an autonomous vehicle are wild because current vehicles you only get about 10 to 12 hours a week out of usage out of the total 168 hours of a week you got parking insurance etc but if you're able to increase the utility of the car
Starting point is 00:30:14 by a factor of five but costs the same at that point Tesla is just a hardware company with software margins but would you just let your car go out and take people for a ride if it meant making
Starting point is 00:30:28 I wouldn't do that I don't want some fucking randoms in my car jerking off and eating peanut butter and jelly or whatever that's what you think people do in a car
Starting point is 00:30:37 if you don't have to drive except jerk off if you give a person a chance to jerk off somewhere they're gonna do it I guess that's a good point I always picture of people being busy in a car
Starting point is 00:30:47 now I've got a bunch of hands for you guys in my car eating peanut butter jellies and jelly yeah just getting sticky door handles you know back of a taxi it's the same shit. You don't know if it's the jelly or the come. Yeah. Oh, Jesus Christ. Well, I wanted to show, another big thing is they were pressuring him, well, not pressuring, but just asking, because Tesla famously doesn't do ads. And that's a big thing that people like meet Kevin are starting to push him on is, hey, you need to start doing ads because, in part to like battle against, to work against your, because right now you are the face of the company. And you need to do ads. But so Kevin made and.
Starting point is 00:31:25 an ad he made his own Tesla ad oh I'd miss this they're stealing the they're stealing the the old I hate him I know you know what he is he's a penis he's just such a penis not a weenie he's a penis
Starting point is 00:31:41 they steal the old Mac versus PC ads where it was like I'm a Mac fucking yeah so they intentionally cast this poor guy next to him who's like they got a guy who's a foot shorter than him who kind of looks like him
Starting point is 00:32:00 it looks like his shitty brother yeah they just they did it just in a neighborhood like my man if you're going to record truly you got the money don't go anywhere at the studio bitch okay here we go hi I'm a Tesla Model Y and I'm a Toyota Raff 4 the much
Starting point is 00:32:13 Hi I'm a Tesla Model Y and I'm a Toyota Raff 4 the much more affordable alternative to a plug-in vehicle. Wait, how much are you starting for these days? Only about 43 or 44,000. Oh, so about the same. Really? Yeah, and you guys do get the $7,500 tax
Starting point is 00:32:35 credit, right? Um, wait, you don't get the $7,500 tax credit? I'm not really made in America, so... That way, that's the whole... That's the whole thing. Yeah. It's only about price.
Starting point is 00:32:50 It's about price and the tax credit. But, I mean... But, I mean, fucking... Tesla just slash their prices multiple times. That's the only reason it's close. And it's killing Tesla. That's why their fucking profits are so low. I don't know if this is true,
Starting point is 00:33:06 but some guy responded and said, you spend $2,500 on a home charger. Tesla insurance is almost double that of an ice internal combustion engine, RAV-4. Maintenance cost of a RAV-4 and Tesla will be about the same. A RAV-4 has higher resale value
Starting point is 00:33:22 and higher property tax amount in Tesla, you have to pay property tax? What the fuck? I don't know if that's correct. That sounds stupid. I'm pretty sure that, yeah, I don't know. But there you go. I responded, but just what?
Starting point is 00:33:35 Laugh aloud? Yeah. Interesting. But I mean, that's such a shitty. I can't, you're going to, you go through all the trouble. You set up the cameras. Why not fucking hit more points?
Starting point is 00:33:47 I mean, surely there's performance things that it's better on. That was wild. Yeah. It's, uh, I mean. Again, good for Kevin. He's out there making things happen. There's a question, well, I don't know if we care anymore.
Starting point is 00:34:04 I was going to play a clip of him from the actual conference call where he answers a question on price elasticity. All right, let's see. So this is an analyst asking him a question on the earnings call. really frank if our car cost the same as a rap four nobody would buy a rap four if our car costs the same as a rap for nobody would buy a rap for i would buy a rap four too yeah i don't think tesas are that nice looking number one no i think the insides suck it's like it looks and feels cheap i hate that fucking big screen
Starting point is 00:34:41 uh yeah i just i i don't find tessas as appealing as everyone thinks they're I drove one once and I loved it, but I couldn't turn it on. I didn't, let's hear what else. And the Rev 4 doesn't have a fart function? It's worth noting that a lot of these incentives, like the, you know, tax credit and whatnot, but they're actually very difficult for the average person to access because most people do not have 10 grand, you know, or even $75,000 burning a hole in their bank account. large number of people are living paycheck to paycheck and with a lot of debt they've got credit
Starting point is 00:35:26 caught debt mortgage debt um so that's one thing that he went on to talk about with the macro environment that he's worried about because they're lowering their prices to try to appeal to these lower income demographics who they want to sell cheap electric cars to but there's so much that goes into owning an all electric car like where are you going to like where i live where the fuck would i i don't want to have to go truly it's not an option for me no i mean it is if i want to go instead of going to the gas station i go to the charging station and make like a a whole 30 minute trek out of it but i don't know anyway so that's that and kathy wood still loves him she had a great quote she said that uh despite all of his increasing troubles and things going on
Starting point is 00:36:15 And that's actually when he shines the most. She said the intensity of his brain cells takes him to new levels when facing hardship. When he's backed into a corner. Yeah. Let's see what he's going to do. His intense, his brain cells start to vibrate and it makes him think harder. Yeah. But that is not the end of his troubles.
Starting point is 00:36:35 He's also got some legal troubles, which I think Meet Kevin was alluding to. Yeah. Not just his custody battles of his kids. But there's a United States Equal Employment Opportunity Commission suit about his, which has been going on for a while. I'm sure a lot of people have heard about the rampant racism at their at their Fremont plant, which is. We covered it in previous episodes. Where there's just like frequent use of horrible racial slurs, racist graffiti, including swastikas. Sounds like an absolute nightmare.
Starting point is 00:37:09 Hey, it's a free speech work zone though. Yeah. And then one of their big things is the. there are multiple subpoenas from the DOJ. They're looking into... The big thing is the range fraud. They're saying that he basically... Tesla basically lies about how far you can drive on a full charge for their cars.
Starting point is 00:37:32 They also goes into... They describe... They're looking into the personal benefits of executives. Like how much they're being compensated in terms of... They don't really go into it, but one of the things that they... They know there was a investigation looking into this weird glass house project that Elon wanted to build using Tesla funds. Out in Texas?
Starting point is 00:37:53 Yeah. Yeah. Right near the. Yeah. And then, you know, some of the full self-drive claims. Yep, that's a big one. Because they're also getting sued by a bunch of people who have had accidents or had family members killed due to, they alleged directly due to Elon and Tesla's claims about their full self-stop. full self-driving driving capabilities.
Starting point is 00:38:17 Right. Because, you know, he says that they can do all sorts of shit that they just can't do. And then there was that guy a few years ago who got killed, some engineer dude in the Bay Area. And then some weird Tesla guys were saying, well, when you think about it, he died for a good cause. Because he, now nobody will ever get killed in that particular part of the highway again in a self-driving vehicle because now it's learned. And that's just that's just. Someone's got to teach these robots. Someone's got to teach the robot.
Starting point is 00:38:48 But the Verge had some kind of wild information about the range fraud. Earlier this year, Reuters reported that Tesla had received so many customer complaints about range that it created a special diversion team to cancel their service appointments. Customers were incensed that their Tesla vehicles were falling well short of the advertised range, sometimes by as much as half the number of miles that they were purported to get on a full charge. According to Reuters, there was nothing actually wrong with the vehicle's battery. Rather, Tesla had allegedly created software to rig its driving range estimates to show a rosier picture. This led to thousands of customers seeking service appointments to figure out what was wrong with their vehicles.
Starting point is 00:39:26 But because the vehicle was working as intended, Tesla's diversion team simply canceled all the appointments. Yeah, that was a big thing. And then on top of that, there's just the quality concerns where there's like they fucking leak when you take him through a car wash or when it rains and just panel gaps. just piss poor quality control that's the most frustrating i mean can you pull up that one that's why he cried on the thing the one tweet we were laughing about which one i think you linked it in here where it was uh it's got him as like oh his fans yeah his insane fans because the so yeah well that's the thing you're saying you know they don't do ads and uh meet kevin's why would you need ads when you've got fan boys who can make cool shit like this so this is a
Starting point is 00:40:12 For the audio listener, Tesla Conomics. Tesla Conomics fanboy account. One of the best commercials for Tesla would be for Elon to fire bullets at a cyber truck with people in it showing how high of a priority safety truly is at Tesla because no company is anywhere close to doing the things that Tesla is building. I got a different idea. Stick Elon inside and let us shoot it. Let me fire a freaking bazooka at the damn thing.
Starting point is 00:40:37 And it's accompanied by a picture of Elon Musk looking. It's probably AI. Oh, of course it's AI. put in the style of like a John Wick poster and that's the most upsetting part about all this is that they've created this mythology around this guy who's just the biggest alpha male yeah but he's in reality just a fucking dork a grifter like truly the biggest dork on the planet and like the fucking dick riding for just a guy who is trying to rip you off is so insane it's wild. Yeah, I'd like to, again, maybe put him in the car and, I don't know, to try a crash test.
Starting point is 00:41:18 Put it, put it at 100 miles an hour straight to a wall and see how, while shooting bullets. I fully get it for meet Kevin or anyone who's been like, you know, financially invested in this and either made a lot of money or stands to make a lot of money. But if you're just like a regular guy with no Tesla stock, Who is just feeding this shit into Dolly. Yeah, I wonder what the prompt was. Get help. Handsome Elon Musk pointing, using. They also are obsessed with the trigger discipline finger.
Starting point is 00:41:57 They love to see when someone's doing it. Because, you know, if you're trained with firearms, you know not to put your finger on the trigger. You've got it, like, laid out flat like he's got it. Oh, boy. Anyway. So let's see, what else have we got? This week was pretty, this week, listen, shit's going crazy in the world.
Starting point is 00:42:21 And there's been a lot of talk, and there was a lot of speculation over this last weekend that there would be another Black Monday. Black Monday being one of the biggest stock market crashes ever in the 80s. And a lot of Bin-Twit, financial Twitter was on about there being another Black Monday, which is usually when you know, that there's not going to be one. Right, I feel like you hear these calls a fairly decent amount. Yeah, and that's the thing about people who are permanently bearish
Starting point is 00:42:51 is they always sound a lot smarter because there are so many reasons to be betting. You would think, man, you hear these people talk and it's like, wow, yeah, the world truly is teetering on the edge of fucking total destruction. But like Visa just reported their earnings and they beat people are still spending money people are still doing their shit but yeah things are
Starting point is 00:43:18 the vibe is that are they pointing solely to geopolitical factors i think they're pointing to that they're pointing to um as we'll talk about there's a lot of uh americans that are increasingly falling behind on their car payments like that people living paycheck to paycheck the rising interest rates staying higher for longer potentially going higher too yes um and on that note there's actually some really big news that happened over the past couple days is the bitcoin ETF is making progress once again yeah so it's looking like Bitcoin jumping Bitcoin jumped huge it jumped like over 10% it's at like 34 now yeah which is crazy because I was thinking about it today and it makes sense it's like it's one of those simple math things where an
Starting point is 00:44:09 ETF for those of you who don't know still it's it represents the the underlying thing so like the spy is the ETF for the S&P 500 it's the thing it's the thing that represents the thing and if you buy an ETF for right an exchange traded fund right yes if you buy that for Bitcoin, the exchange traded fund, the, the ETF for Bitcoin is going to have to own some Bitcoin, like a lot of Bitcoin, to track the price of it. Well, as we all know famously, Bitcoin has a very limited supply. So if this, the idea behind this rally is it legitimizes Bitcoin in such a way, number one, that, oh, it's here to stay, it is actually a store of value or whatever, however you want to
Starting point is 00:44:57 phrase it, but the fact that it gets its own, potentially will get its own ETF on its face, that's a big thing. But then secondary to that is this ETF is going to be tracking Bitcoin. Well, it's going to have to own a fuck ton of Bitcoin. And that could take a good chunk of the existing supply off the market. And what does that do when you've got less supply? Higher demand, higher price. It's always interesting, you know. But it is also really funny because it was started as this anti-establishment thing right and now that it's it's become not reliance on but it's been gaining a lot of momentum from the very establishment that it uh right it poses to to rail against it feels like now
Starting point is 00:45:43 its value is wrapped up in in its ability to be legitimized yeah yeah yeah it's now it now stands to gain from more legitimization from the establishment that it was created to like help tear down or be less reliant upon so that's pretty poetic kind of beautiful fucking satoshi's turning in his grave god man every time i think about that satoshi nakamoto account that has literally like what 30 billion dollars worth of bitcoin in it just sitting there just untouched whether did the person die are they refusing to touch any of it it's just sitting there just billions of dollars nobody can no one knows what no one knows it i that's fun for me to think about it's like modern day pirates booty that we'll never be able to access it yeah
Starting point is 00:46:37 we'll never be able to look at it wouldn't be nearly as fun to try to find it you know you can't have a city slickers style movie or or the the search for bitcoin ready player one kind of thing where it's some autistic nerd who like has his treasure i wish that was satoshi who's who He was just like, well, I made a big treasure hunt for everybody to find it. That'd be cool. One day he just comes out and says, it was me. You guys are going to have to race in the metaverse. It'd be cool if he made a worldwide saw competition.
Starting point is 00:47:13 Oh, that sounds way worse. Like, I put the code inside of someone's mom. Please don't be worse. He's killing their moms. written on the femur bone of someone's mom as long as it wasn't mine I'd be sawn that femur off saw on someone else's mom's femur off yeah well you're gonna have to protect your mom
Starting point is 00:47:36 because what's to stop someone from checking on your mom's mom everyone's mom is a potential target I'm just saying I don't know he could do that or what else what else could he do blow up blow up a federal building and I'll give you the code now we're talking Shter she that would be fun we're not advocating for that obviously and hopefully the youtube algorithm didn't just pick that up and flagged this video as it is want to do jesus it's always something we can't talk about
Starting point is 00:48:08 b-l-o-w-ing an f-d building huh you can't talk about mailing someone a n-t-h-r-a-x huh can't joke about that don't joke about mailing someone a p-n-h-h-r-h-h-h-h-h-h-h-h-h-h-h-h-h-h-h-h- can't joke about mailing someone a P-I-P-E space B-O-M-B? Huh? Can't do that? Don't teach the algorithm I'm not going to teach the algorithm.
Starting point is 00:48:31 You know, if the algorithm can't spell, that's your fucking problem. Read a book, huh? Sounded out, little baby. You're going to learn how to drive a car, you've got to learn how to spell. Now that's fact.
Starting point is 00:48:44 Now that's not cap. Might not have to. What, learn how to read to drive a car? You've got to learn how to read a stop sign, man. What are you talking? You just program it to C-Stop. Right, but what if it's in Mexico and it says Alto instead? Or what if it's a sign that's got like, you know, no turn left on Sunday for the church crowd?
Starting point is 00:49:05 Programming. Can't turn left on Sundays. Everyone knows. You believe in God. Is that what happens? Well, sure, there's all sorts of rules that get in it. Like, here in Los Angeles, you drive west on Beverly Boulevard. You can't turn left between 4 and 7 p.m.
Starting point is 00:49:20 Yeah, yeah, yeah. Certain lanes are closed, three to seven. Yeah, I hate that shit. I've gotten tickets. I've gotten towed because of that dog's shit. Good. I honestly, I get furious. I'll be on, what is it, Los Felas Boulevard?
Starting point is 00:49:34 Yeah, that's different. Get those cars. If it's 301, 2, baby. Yeah, tell them. Get the fuck out of here. I was towed from a spot where it wasn't a lane where you could drive. It was legitimately like off, off street, and it was just parking, that they are maturely make it you can't park here between six and eight no street cleaning no nothing and if you
Starting point is 00:49:56 park there you get immediately towed it's not even a ticket just five hundred dollars move your card down the street for you put it in the yard you got to pay together i will k i l someone where to god uh wait should we talk about these uh paxelvid what do you want the missing car because this goes along with the whole elon thing The car payments? Yeah. Yeah, sure. So basically record number of subprime borrowers are behind on their auto loan payments.
Starting point is 00:50:29 AKA poor people. Subprime. That's what that means. Sure. It means they have lower credits, which. Yeah. You can be... I mean, I'm talking on the behalf of...
Starting point is 00:50:41 I'm pretending to be a callous banker here because that's how they view it. Sure. Brokeys. They're just deemed less likely to be able to repay... money repay loans right um so they're falling behind but yeah not what whatever they're uh yes it's the highest it's ever been since they started keeping the records in 1994 okay so the rate hit 6.11% at september was up from 5.93 percent which doesn't seem like a big difference but i'm shocked they said analysts predict that auto loan delinquencies will continue to rise into 2024 and peak
Starting point is 00:51:20 at about 10% before they start to fall. It's a huge, it's destroying the record. Right. I'm also shocked at how much people fucking spend on their cars. No kidding. This was, I was... What's the average payment? I don't have the average, but a record number of new car buyers
Starting point is 00:51:40 took out loans with monthly payments of $1,000 or more in the three months to June. That's a... I just can't even fathom that. I got a brand new car. My payment is $250. Jesus. See, this is why I buy used.
Starting point is 00:51:57 I don't have to, I just plop it down all in one fell swoop. One giant turd. One giant flush. Yeah, but a lot of people can't do that. Yeah. They poop and then they just keep wiping. Cars are very expensive and I didn't have a lump sum of,
Starting point is 00:52:12 however much a 2021 or two Subaru Cross Track cost. It probably costs $40,000, $32,000. $25,000. I think it was closer to $30. Well, I would have lost there. Did you see this car dealership guy on Twitter? No. At car dealership guy.
Starting point is 00:52:30 He's at guy dealership. What the fuck? He's got a podcast about all about the car market. What a snooze that would be. Every week. Well, let's listen. Let's talk about the car market. Fuck, man.
Starting point is 00:52:46 Tell me the fucking day. We dedicate. You'll get to it. We dedicate five minutes to this, and I'm already falling asleep. But he was talking about the percentage of subprime auto borrowers, 60 plus days past due, like you said, hit a record 6.1 in September. It's the highest delinquency rate since of all time, actually. And he says, truthfully, it's taken me a couple of days to digest. I'm concerned, but my concerns go way beyond the car market.
Starting point is 00:53:13 I'm concerned about people that are struggling to keep up with their bills. I'm concerned about families that will lose their means of transportation. I'm concerned about our economy, which is all stuff that, yeah, if you're not, if you're delinquent on your car payment, it indicates you're probably falling behind on other things like credit card payments, rent.
Starting point is 00:53:31 Right. You're spending less on food, whatever. Sure. Or my hope is that it's just people they're able to make ends meet elsewhere. They're just not. Yeah. Because at the end of the day, maybe they just realize what, so worst case scenario, they come take the car, come fucking get it. Also, important to point out that it's very punitive. Like, when you are a subprime borrower, you're going to be paying more for that fact.
Starting point is 00:53:55 Right. So for subprime borrowers, rates for new cars average 11.5%, between 11.5% and 18.5% for use autos. Yeah. Prime borrowers are charged far less, between 6.4% and 8.75%. Is there like a super prime? Like, you're better than prime? I think it's just prime and subprime, but I do. Oh, man. I'm not well-versed. Do you hope that you're super prime?
Starting point is 00:54:21 I just wonder why I would rank. I just want to show up and be like, yo, I just want to know where I stand with you. Well, I imagine that's the discrepancy between the, you know, 6.4 and 8.75, you know? Yeah. So. And there's a way to do that.
Starting point is 00:54:35 You guys, you could go on credit karma and you could show your boys. You're probably 800 plus credit. Yeah. I got to get a, I got to get. my average age up that's the one part of my credit score where I'm lacking by the way go to the credit card list.com get you get you a card but make sure you can make the minimum spend to get the bonus but yes this is a big it's something that I'm worried about because that tends to kind of I mean much like the housing crisis that was a big thing that led to it was people no longer
Starting point is 00:55:12 being able to pay their mortgages but mortgage is a much higher payment that I'm But this is, so they're saying that car payments have become the highest expense for a lot of Gen Ziers and millennials, even exceeding their rent, which I cannot bathe them for some reason. I don't, I mean, I know, but I bought my car probably 18 months ago. And I know that cars have only gotten more and more expensive, but I just don't understand. When people say $1,000 a month, I'm like, what are you talking about? Yeah, I don't understand that. I would just not have a car. I wouldn't be able to spend $1,000 on it.
Starting point is 00:55:44 I couldn't. Yeah. No, good point. And I wonder if it's a generational thing. Like if it's younger people who just don't have, I don't know, as much of a, maybe it's because money isn't as real to them because they've grown up where everything is so digital and you can easily just buy shit with double clicking the payment button or something or dealing less with cash. I have no idea. I'm just, I don't know. You've seen that TikTok where the guy, it's going through, it's going through the office. and they're all bragging about what cars they have in the car payments. No. It's awful. But yeah, it was that because it blew my mind.
Starting point is 00:56:23 People were going like, Oh, yeah, yeah. Dodd's Charger 1350 a month. And I'm like, why are you bragging about this? That's such a horrible financial decision. That kind of thing, yeah,
Starting point is 00:56:35 that makes me nervous about the economy is people spending this much money on their fucking car payment. It's like, how are you not? I'd be up at night every night going, why do I drive a Dodge Charger that I'm paying $1,300 and that's just the car payment What are you paying in insurance?
Starting point is 00:56:52 I also think it's fairly easy to get approved I mean I remember yeah They're giving houses to people back then They're gonna be giving away these cars They gotta move these cars When I did it, it was like They were like we just have to run a crash He came back like two seconds
Starting point is 00:57:04 They were just being like, you got a car Did he really say you got a car? No, but it was like oh I thought there would be more to it than that Yeah You just let me know how? Crazy. to go test drive like a Ferrari or something.
Starting point is 00:57:17 They got to let you. I don't think they got to let you. Oh, I just got to go. I don't think you test drive them. Yeah, probably not. You can do it at the Porsche thing. I have a friend's dad who retired and bought a Ferrari. Lamborghini?
Starting point is 00:57:34 No. Maserati. Yes. The Maserati, literally you have to be on the wait. You can't just go in and be like, let me drive one. He was on a wait list for years. and like he was stoked because it was uh it was finally going to get delivered and i looked he showed it to me and i looked at the name and i remembered it and then i was like as soon as we're
Starting point is 00:57:56 done talking i'm going to google this because i was like i need to know how much money this guy was like a hundred and twenty thousand dollar way more 160 way more really about a quarter of a million dollars for a fucking mazorati it's like it's one you it's yeah huh it's one that costs a quarter a million dollars apparently i think it was a mazorati speaking of insane prices one more thing i wanted to cover this uh this week we got uh saw this this um headline about how fiser priced their covid drug paxelvid at fourteen hundred dollars for a five-day course hey that's a car payment for most people yeah brother yeah and uh so then the this tweet the the The other slide in this tweet is from, from Pfizer themselves,
Starting point is 00:58:46 and it shows the cost of production for this same drug. It's about $13. Costs them $13 to produce. That sounds fair. That's a 10,000% markup. Look. We need to get that dork. What was that guy's name?
Starting point is 00:59:04 Who went to jail? Martin Schmarievo. No, I said it, right. What'd you say? Martin Screlly. Schrelly, Screlly. Yeah, we need to get him on here because his whole thing was he joined that cancer research drug, cancer drug company, and he did the same thing.
Starting point is 00:59:23 He jacked up the price like 700% or something. But that's not what he went to jail for. Right. He went for insider trading. And defrauding investors. Yes. I remember when that happened. I remember watching that stock that he was in just fucking skyrocket.
Starting point is 00:59:35 And then they halted it. And the next day it opened up like down 90% or something. It's just good to point out that perfectly fine to take life-saving drugs and jack and jack up the prices. Well, so that's the thing is he was asked on, I think it was on Shane Gillis. Yeah, Scurley was on like Shane Gillis's podcast or something like that. It was in front of a live audience and he asked him, would you do the same thing today? And he said, yes, absolutely. And because if you go and...
Starting point is 01:00:05 Wait, when he says the same thing, jack up the price? Yes, okay. deck up the price. But I'm assuming he might, he would, excuse me. Whoa, folks. Emil just burped right into the microphone for the first time ever. I'm deleting the whole file. I'm deleting the show.
Starting point is 01:00:20 My mouth was fully closed. It snuck up off. That was a cute, polite burp. Nobody cares. But I imagine he wouldn't do the stuff that sent him to jail. No, he wouldn't do the insider trading again. But he would still jack up the price for it. Yeah, and he likened it to, if I'm butchering this, but he said,
Starting point is 01:00:38 I don't know If you had something that you knew was worth a lot of money You wouldn't just fucking give it away You'd sell it for what it's worth But I think I... That's actually not true This isn't me defending it by the way But he said
Starting point is 01:00:51 Pricing certain things that high Is what enables companies like that To then fund research for other drugs And other shit which is like Come on, I mean, sure Depends on the company If they've got other drugs in the pipeline That are worth pursuing
Starting point is 01:01:07 and putting R&D into do they have other drugs already on the market that are pulling in enough money they have enough cash on hand whatever but I love to deny someone life-saving drugs and be like look we're trying to find other life-saving drugs yeah yeah truly that's man biotech I used to be into following biotech companies and it's just it's fucking exhausting and maddening why I can't imagine working at one because one day your stock will be down 60% oh yeah and it's like okay why oh well because this one trial had this one end point that didn't get met or something or the FDA you're you're you face so many hurdles between regulations and um regulations and
Starting point is 01:01:52 go ahead regulations and i'm sleepy no i'm not sleeping i'm fine i know you feel you're at the end of the episode so nothing matters we hit you with you the packs loved it right before the episode. Did you see my tweet about Diet Coke and cigarettes, by the way? That you are propping them up? Is it just me or in the last year? Cigarettes have had a huge resurgence. And then Diet Coke is being.
Starting point is 01:02:20 That was not you. I know it's not. I'm not saying it was me, but it's just funny the timing. No, it's not because you fell victim to the same thing everyone else fell victim to, and then you think that you did it. I'm not saying that I did it. I'm saying it wasn't your tweet? Yeah, but that was a joke.
Starting point is 01:02:36 That's a joke. But it's funny to be like, oh, wow, I got wrapped up in the trend and started smoking cigarettes and drinking Diet Coke. What I meant was like it felt almost akin to I'm wearing crocs before they're cool kind of thing. I know, but what I'm saying is they're wearing crocs because you're uncool and just being subject to a trend. It's just that now I'm paying attention to it. Diet Coke and cigarettes have always been cool. It's that now that I'm participating in both of these.
Starting point is 01:03:04 microeconomies, much more cognizant of it. Cigarettes have always been cool, although there's nothing worse than when, like, some, there's nothing worse than seeing a hot girl smoking a cigarette and thinking, she's got a shit so bad. That's what they make you do. Especially a hot girl in the morning smoking a cigarette, you're like, girl, you've got to go potty.
Starting point is 01:03:31 No. Go on, sorry. The amount, though, the shit and piss consumes your brain. It's my greatest shame, man. It's all you think about. You see a woman smoking a cigarette, you're like, God, she's got a shit. I don't think that. I think, would she give me one?
Starting point is 01:03:51 And then I think, I wonder if she's already pooped her. I wonder if she's got a shit. Yeah. What were you going to say? Sorry. Oh, no. The worst is when you see someone who makes smoking look uncool. there's a movie with Emily Blunt
Starting point is 01:04:06 and Chris Evans Captain America guy coming out Oh yeah They released the clip of it And they're like in a strip club And Chris Evans is smoking one I'm like dude you look so bad doing this Yeah I look bad too
Starting point is 01:04:19 I'm sure I don't look good Why can it's like when Every time Ron DeSantis is at one of those events Trying to be in every man And he's drinking a beard It's like oh just Can I hang out with them for like
Starting point is 01:04:33 three hours and show him how to drink a beer because he's doing it so badly. Yeah, he sucks at being a guy. Oh. He totally, did you see this the Santa's shoe theory, by the way? Oh, don't you want to show me in the bonus? Nah, because we'll just take calls
Starting point is 01:04:47 in the bonus, fuck it. Okay. Because we got enough. There's this, it was from a few weeks ago. The reason that his shoes look so weird. Audio listener, if you're still out there, God, I wish you could see this. I do wish they could see.
Starting point is 01:05:01 He's wearing these, like, Cartoon character boots. Yeah. And there's a theory that his feet end well before the tip of the shoe. And this is incredible. This is incredible. They've got like a... Kind of makes me horny for Ron.
Starting point is 01:05:23 Yeah. They've got like an x-ray of what it probably looks like inside that he's wearing a full-on high heel. Keep honking. I was staring at Ron DeSantis's... It is true. It's kind of, it does look like he's wearing full-on, and they show him in this one. Which not for bad reason.
Starting point is 01:05:43 I'm pretty sure. Isn't there like a thing like that every president is like six foot or over? Hmm. How tall is he? I don't know. Not six foot or over? How tall is Meatball Ron? Meatball Ron.
Starting point is 01:05:57 Meatball wrong? That's what Trump called him. Really? Why? Does he like meatballs? He's so funny. I don't know, because he's the funniest guy in the world. Oh, because Trump's the funniest guy in the world?
Starting point is 01:06:07 Yeah. Man, if you are still... Oh, he's 5'11. That's a respectable... Yeah, that's a respectable height. Leave it alone. Leave him alone. Wait, I just missed a call.
Starting point is 01:06:17 Oh, that was from... Okay. Yeah. I see. Well, that about does it for this episode, folks. So, please do join us in the bonus. Patreon.com slash... Pay Pig's pod.
Starting point is 01:06:30 Right. You spell it for him? P-A-Y, P-I-G-S, P-O-D. We're going to be taking some calls. We're going to be chopping it up. We're going to be... Insulting. We're going to be hanging up on people.
Starting point is 01:06:46 It's okay. We're going to be doing crank yanker style stuff. Yeah.

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